liberty all star usa sets initial payout
we are being accused of not implementing this agreement
entregrowth closed at 135 dlrs and options at 55 cents
usda forecast south african 1986 87 corn exports at 210 mln tonnes vs 300 mln tonnes last month and 1985 86 exports at 275 mln tonnes vs 275 mln tonnes last month
norgolds issued capital will be 2405 mln shares of which 63 pct will be held by nbh after 89 mln are issued to shareholders to raise 196 mln dlrs it said
the april 6 sale to be evenly divided between the three and six month issues will result in a paydown of 165 billion dlrs as maturing bills total 1485 billion dlrs
waste managements tender offer announced before the opening today expires march 25
he earlier estimated the damage from the us raid at about 500 mln dlrs
brougher bigi to sell 40 pct of subsidiary
that was not the case two years ago
cutrale and citrosuco officials were not immediately available for comment
the exchange market is apparently reacting too much and anyone who sold the dollar on the baker comment will regret it later on the bank of japan official told 
it said intensifying competition in an environment of slow economic growth moodys predicts 25 pct worldwide growth in 1987 will lower returns and margins for many multinational firms
the payment date is april 8 and there will be a long first coupon period
shr 57 cts vs not given net 6889000 vs 107 mln nine mths shr 167 dlrs vs not given net 201 mln vs 230 mln note company went public in november 1986
baker had said that west germany was apparently breaching the louvre accord
miniscribe corp said it filed with the securities and exchange commission a registration statement covering a 65 mln dlr issue of convertible subordinated debentures due 2012
the us charges that the europeans are violating rules laid down in the 1979 agreement on trade in civil aircraft
the company did not name an underwriter for the sale
phelps dodge corp said it is calling for redemption on may one all of its five dlr convertible exchangeable preference shares at 5350 dlrs per share
this is not an attempt by squibb to become a major majority holder in cetus fildes told in an interview
the company said its board intendsd to schedule a meeting in the near future to review the proposal and it has asked oppenheimer and co inc to assist it in evaluating the offer and advise calny on its alternatives
however he said i dont believe there is anything basically wrong with this institution and i dont believe it has to have any redefinition of its purpose he said however that it was apparent that the debt initiative proposed by baker has given the bank a central role in dealing with the debt crisis
on a three month basis total advances in november to january were 30 pct lower than in the previous three months
the data which has provided not clear cut view of the economy coupled with dampened activity in the foreign exchange markets after the paris initiative has made for less than ebullient market action mains said
in a breakdown of costs exxon said that operating expenses slipped to 92 billion dlrs in 1986 from 97 billion dlrs the previous year and exploration expenses including dry holes slipped back to 12 billion dlrs from 15 billion dlrs over the same period as the number of wells drilled was lower
trinity industries leasing co offering of 100 mln dlrs of convertible debentures due april 1 2012 through merrill lynch capital markets
firms and individuals may only invest in foreign government bonds treasury bills and certificates of deposit
parent shr 3712 yen vs 3497 div 950 yen vs 750 net 3334 billion vs 3105 billion current 7930 billion vs 7332 billion operating 7213 billion vs 6553 billion sales 1222 billion vs 1211 billion outstanding shrs 89796 mln vs 88776 mln note 1986 87 dividend included two yen bonus dividend to mark 80th anniversary
dionics inc dion year net
sales of the predecessor company were 268 billion dlrs compared to 256 billion dlrs in 1985 including the sales by the operations which are divestiture candidates
on a post split basis the increased dividend will be 58 cts a share payable may one to holders of record april 10
polydex pharmaceuticals ltd polxfo 1st qtr
north sea oil and gas revenues rose 34 pct to 326 billion crowns in the january to july period compared with 315 billion in the first seven months of 1986
i am for credits to invest for that purpose he said
the soo canal is currently only open for daylight vessel movement with 24 hour movement allowed beginning march 29 she added
tenders jordan will tender monday april 6 for 225000 tonnes of us hard and soft wheats for various april nov shipments under the eep
benihana bnhn to build restaurant in florida
cfcf inc six mths feb 28 net
because of the increased exposure to pod rot damage estimates of the final outcome of the temporao are extremely vulnerable and production could easily drop to below the 20 mln bag mark if the disease hits
burmah oil 1986 pre tax profit 1059 mln stg vs 796 mln
holiday inns inc a unit of holiday corp is raising 14 billion dlrs through offerings of notes and debentures said bookrunner drexel burnham lambert inc
bundesbank reported to have no plan for rate cut
he said the commission which has powers to continue most aspects of the scheme without consulting ministers further will be considering soon whether it should be made permanent
qtly div 82 cts vs 76 cts prior pay may 1 record april 16
salomon brothers inc co managed the deal
houston industries hou unit to buy back bonds
qtrly div 30 cts vs 30 cts prior pay may one record march 31
in 1985 it was 52 pct
uk intervention wheat sold to home market
lf rothschild co managed the deal
liemandt who said he will leave the company after the merger is completed also turned to acquisitions for growth
the first was made last october 23
german retailers expect good 1987
prior qtr and nine mth results were previously restated to reflect a change in depreciation methods that reduced net income by 175 mln dlrs or 16 cts per share
japanese banks plan joint firm to avoid debt risk
countertrade is helping african countries short of foreign currency to import goods
in fourth quarter 1986 company also adjusted carrying value of non chemicals discontinued operations assets leading to charge of 156 mln dlrs
white house spokesman marlin fitzwater said the administration had some disagreements with the trade bill that cleared a house subcommittee yesterday but generally felt good about the bill
in a filing with the securities and exchange commission parsow said it sold 42800 erc common shares between jan 9 and march 2 at prices ranging from 12125 to 1450 dlrs each
south korean trade minister rha woong bae said his nation would maintain a trading surplus for three to five years as a way to cut its foreign debt
but cato chairman william niskanen added the two nations generally harmonious trade relations are probably not sustainable without a new agreement the united states and canada whose cross border trade totaled about 125 billion dlrs last year have been holding talks since last june on a pact to end the few trade barriers remaining between their two countries
bonn and other european nations worry that once the weak dollar blunts tokyos export drive to the united states the japanese monolith will concentrate on european markets
funaro accompanied by central bank president francisco gros is on the first leg of a tour of european capitals in an attempt to explain to governments brazils indefinite suspension of interest payments earlier this month
william reynolds chairman and chief executive officer of gencorp the company stated that if gencorp could prove the company was worth more general partners would be willing to consider an even higher price
calculations based on istat figures showed industrial production rose 24 pct in january on a month on month basis after falling 120 pct in december over november
it will be listed in luxembourg while the payment date is may 5
only two weeks ago world coffee prices slumped when international coffee organization members failed to agree on how coffee export quotas should be calculated
vereins und westbank to reorganize network
exporters now need financing in riskier markets and on deals which are smaller take longer to put together and close bohn said in his testimony
rexham corp said it has repurchased 381050 of its shares or 91 pct from nortek inc for 42 dlrs each and nortek has withdrawn its proposal to acquire rexham for 43 dlrs per share
the business is a manufacturer of high energy friction materials for heavy duty transmissions and clutches
american tax dollars are being used to subsidize foreign agriculture and mineral production that is often in direct competition with our producers senator don nickles an oklahoma republican said in a letter to fellow senators seeking support for his legislation to limit these loans
exports in october 1986 were 20064 down from 38853 a year earlier while november exports were up from 32796 to 50855 tonnes
shr loss 26 cts vs profit eight cts net loss 28 mln vs profit 897000 revs 270 mln vs 300 mln nine months shr loss 51 cts vs profit 46 cts net loss 54 mln vs profit 49 mln revs 884 mln vs 998 mln
aristech said the polypropylene expansion involves a major modernization of its neal w
hecla hl buys stake in greens creek venture
with a historically high yen and historically low interest rates theres an increasing disincentive to invest in japan competition in fund management has grown along with greater japanese savings
the call money rate peaked at just above nine pct ahead of the meeting of finance ministers from the group of five industrial countries and canada on february 22 which restored considerable stability to foreign exchanges after several weeks of turbulence
in recent days traders have suggested holmes a court was buying additional shares
share analysts said that for this reason they did not think etls intervention would flush out a full redland bid although moniers ultimate fate rests in its hands
the backlog at harris is up 30 pct from the beginning of the fiscal year am said
our optimism is based on our incoming order rates and the strength of our product lines the company said
nitto boseki co ltd of tokyo is launching a 60 mln swiss franc 4 7 8 pct bond due april 27 1995 at 100 1 4 pct lead manager union bank of switzerland said
he said the us increase is due partly to the competitiveness of american cotton and partly to efforts by seoul to reduce its trade surplus with washington
healthvest hvt buys tennessee medical complex
they formed a self contained part of the overall group she said
the senate voted to condemn the proposed european common market tax on vegetable and fish fats and oils and said it would result in retaliation
since the balance date woodside has accepted a santos ltd stoss takeover offer for vamgas
japans overall wholesale price index base 1980 fell 01 pct in february from a month earlier to 864 for the second consecutive month on month fall the bank of japan said
but few economists believe the government will be able to go through with its tax measures without increasing net borrowing
a farm bureau proposal suggests that producers should be eligible for supplemental payments in the form of pik certificates for the difference between 502 dlrs a bushel and the new loan rate
safety kleen an industrial automotive parts cleaning service said mckesson envirosystems has solvent recycling plants in illinois kentucky and puerto rico
west german government sources said bonn remained committed to the louvre accord to stabilise currencies which was struck by leading western democracies in paris last february
however market sources and analysts said uncertainty surrounds any transaction because of the legal challenges to gencorp broadcasting licenses
oper shr 13 cts vs six cts oper net 2124013 vs 909158 revs 1686 mln vs 1576 mln note 1986 and 1985 years exclude loss discontinued operations 6974554 dlrs and 268000 dlrs respectively
they will be underwriting six mln dlrs each instead of 10 mln dlrs
at last fridays session ahmed farouk speaking for producers said producing nations considered that the 1979 pact had served the purpose for which it had been created
mdu mdu preferred stock upgraded to a by s p
mthly div 16 1 2 cts vs 16 1 2 cts prior pay may 15 record march 31
although moodys cited standard chartered banks long standing position in a number of regional markets and improved risk control procedures it pointed out that the bank still lacks the stabilizing effect of a more significant presence in the uk market
the issue is guaranteed by schallplattentruhe a
chase will also be a dealer for the program along with swiss bank corporation international ltd
mathematical applications said the business working capital is estimated to be about 600000 dlrs
the pepsico notes for example are sold on a continuously offered basis
some officials argue that the simplest solution to the problem would be for the state to raise city grain prices
alexander ivanov head of the gulf desk at the soviet foreign ministry told al rai al aam newspaper moscow will answer back with force and violence if iran attempts to attack any soviet ship or tanker in the gulf a soviet tanker hit a mine in the gulf last month
but some cocoa market watchers said the buffer stock may benefit from recent forecasts for a poor brazilian bahia temporao crop at 15 mln to two mln 60 kilo bags against initial expectations of up to three mln
6100 workers all of general motors truck and bus plants will be operating next week a spokesman for the truck and bus group said
the plan involves nzfp increasing its current holding in amcor to about 20 pct from four pct
orange said the purchase price will consist of 19 mln dlrs in cash and 10 pct redeemable preferred 10 pct of hcs common equity and the right for it to prospectively receive 20 pct of certain royalties under a proposed licensing program
midwestern weather has been so mild that barges probably could have kept loading at mid mississippi river terminals through the winter if lock and dam 20 had not been scheduled for repairs he said
the diplomats also said however that they did not expect the kind of social unrest that followed sharp price rises in other east bloc states notably poland
base lending indicator rates of the other three trading banks range between 210 pct and 215 pct
but despite the sharp downturn on german bourses profits from trading on own account had increased in the first two 1987 months compared with the same year ago period
he said the governments policy is to sell its minority holdings in companies as and when circumstances permit
the bond is available in denominations of 1000 and 5000 dlrs and will be listed in luxembourg
corrected banponce bdep places notes
the transaction is expected to be completed in may and subject to both boards approvals
berisford plc brfdl which has attracted takeover bids is making every possible effort to remain independent deputy chairman henry lewis said after the company announced interim results
a spokesman said the suspension was just a reaction to yields on national savings bonds being way out of line with the rest of the market
the growth curve has therefore come closer to the three to six pct 1987 target corridor for central bank money stock growth pointing to the success of the current policy he said
oper shr loss 12 cts vs profit four cts oper loss 1069000 vs profit 339000 revs 128 mln vs 109 mln note 1986 shr and net exclude extraordinary gain of 382000 dlrs or four cts share
herrhausen said he was confident private consumption would support economic growth in west germany this year with net income increases turning into purchasing power as long as inflation did not revive
also included was also a 1128 mln dlr decline from a net redemption of canada bills
so far we havent seen any decline in marketings
china is selling more gold abroad to offset large trade deficits in recent years western diplomats said
fees comprise 1 4 pct selling and 1 4 pct management and underwriting combined
he told a heritage foundation forum id be very happy to see that in his formal remarks heller said he supported the idea of using commodity prices as an indicator for monetary policy
shoneys inc shon 1st qtr feb 15 net
the issue is lead managed by morgan grenfell and co ltd with daiwa singapore co ltd and morgan grenfell asia ltd and is syndicated among leading domestic and international banks and securities houses
it said united jersey bank fidelity bank based in pennsauken will be merged into united jersey bank south in order to improve customer service and maximize efficiency throughout the southern new jersey markets
the ruling removed a regulation which prohibited trading futures of designated foreign government debt securities not located in the issuing country
business and banking sources said another reason for suspending the auction was that the central bank was low on foreign exchange and was 10 weeks behind in paying successful bidders
new zealand cancels weekly t bill tender
smaller firms have criticized ipmas efforts to restrict membership to the larger firms saying it is anti competitive and that it reinforces the big firms already large market share
regal international rgl ups bell bpsiq bid
japanese chocolate imports rose to 8285 tonnes in calendar 1986 from 5908 in 1985 official statistics show
cms advertising said the next split will result in a proportionate reduction in the exercise price of its stock purchase warrants to 167 dlrs a share from 250 dlrs
the sources said romero urged that other ec countries should take some of the imports to prevent disturbance of the spanish market
coupon and conversion price for the par priced bond maturing on september 30 1996 will be set before payment on may 2
denmark had total foreign debt of over 260 mln crowns at the end of 1986
churchs fried chicken inc chu 1st qtr net
southern home savings bank shsb year net
there is a good chance that a majority government could result from early elections confederation of portuguese industry cip president pedro ferraz da costa said
richard lugar r ind read a letter from us trade representative clayton yeutter who said the proposal blatantly discriminates against imports would be impossible to defend under international trade law and would harm relations with the philippines malaysia and indonesia
us lends sudan 57 mln dlrs for wheat purchases
the movement of the market to the upside will be enhanced by the shift to coke but he said shearsons aerospace analyst today removed boeing from the firms recommended list taking it from a buy to a hold
imf approves 48 mln dlr loan to assist ecuador
ordinary shareholders in avana who accept the increased offer will have the opportunity to elect for cash for all or part of their holdings on the basis of 800p cash for each avana share
mobex says about 87 pct of grant gtx tendered
kawasaki steel corp kawst said its parent companys capital spending in the year from april 1 will fall to 75 billion yen from 110 billion in the current year and sumitomo metal industries ltd smitt said its capital spending will drop to 70 billion yen from 85 billion
lindes authorised share capital currently stands at a nominal 496 mln marks
csar csar in term loan agreement
the united states taiwans main trading partner has said the islands import tariffs still ranging from a high of almost 60 pct were unacceptable
federal reserve weekly report 1 feb 26 two weeks ended feb 25 daily avgs mlns net free reserves 644 vs 1337 bank borrowings 680 vs 425 including seasonal loans 81 vs 56 including extended loans 299 vs 265 excess reserves 1025 vs 1497 required reserves adj 55250 vs 55366 required reserves 55513 vs 56208 total reserves 56538 vs 57705 non borrowed reserves 55859 vs 57281 monetary base 244199 vs 244925
navistar international corps stock rose after brokerage house sanford c
lau also denied any contact with the kadoorie family which analysts estimate has more than 20 pct of hk hotels
kapok corp kpk 1st qtr dec 31 loss
the company said the proposal will be considered at a regularly scheduled board meeting on march 17
roberts makes and distributes accessories adhesives and tools used in carpet installation
the merger would create the nations second longest railroad
geodome said a new ore zone discovered last summer is not included in reserve calculations
den danskes 5 3 4 1992 bond was quoted at midday on friday at 9735 65 compared with its par price and icelands 6 1 2 pct 1997 bond traded at 9725 75 against a 100 1 4 issue price
but in late 1986 control of the company changed and it expanded by acquisition into metal trading in australia and asia
the payroll rose by 164000 in march against analysts expectations of a 225000 gain while the labour department revised the february increase down to 236000 from 337000
he told the annual news conference that possible credit risks especially those associated with foreign nations had largely been covered
sri lanka imports all its annual needs of 17 mln tonnes
the company got through the oil crisis alright said one portfolio manager
the stock split elcor said will paid in the form of a 100 pct stock dividend on may 28 to shareholders of record may 14
bahrain is introducing a new domestic money market regime to provide dinar liquidity aid centred on the islands newly launched treasury bill programme
certificated cotton stocks deliverable on the new york cotton exchange no 2 cotton futures contract as of march 31 were reported at 36659 bales unchanged from the previous days figure
tanzania is expecting a record maize harvest of 23 mln tonnes in the 1987 88 financial year ending june up from a bumper crop of 21 mln in 1986 87
the central bank also put selective controls on bank advances to the oilseeds vegetable oils and foodgrains trades
biffex looking to join new futures exchange
he said the tariffs would remain in force until japan abided by the agreement
such a purchase would bring cumulative buffer stock purchases to 26000 tonnes
the company said the panoche facility remains closed but is expected to reopen for liquid and sludge receipts in the near future
lindberg corp lind 1st qtr net
dillard department stores agrees to buy two allied stores units for 255 mln dlrs cash
all claims to be settled under a uk soviet pact agreed last year in connection with pre revolutionary russian bonds and seized assets will be treated equally price waterhouse and co pw said
its fourth quarter net loss was 1653386 dlrs compared with 2646876 dlrs
moodys said the review was prompted by the recent bid by investor martin sosnoff to acquire control of the company
gpu gpu sees tmi 2 fuel problems resolved
the notes will be supported by an irrevocable letter of credit by the federal home loan bank of boston
reserves of european currency units fell to 7325 billion francs from 7527 billion at end december
the requirement for the rest of the year is now down to 950 mln nz dlrs from a predicted 175 billion
uk unit wage labour costs rose 33 pct in three months ending jan official
despite the lower cost to borrowers the dutch market for commercial paper and certificates of deposits is growing only slowly in the face of the well developed kasgeld market and institutional investors have hardly discovered this instrument meys said
im not sure miti can do much more than it has said jardine fleming securities ltd analyst nick edwards
after bass strait the onshore cooper and eromanga basin is australias largest oil and gas producing area with current gross oil production of 45000 barrels per day bdp gas liquids output of 30000 bpd and gas sales of 480 mln cubic feet a day the csr esso statement said
ecuadors oil minister javier espinosa was quoted today as saying venezuela will export the oil on ecuadors account and remit the revenues to quito
taiwan is expected to boost agricultural imports from the us and europe in calendar 1987 to help balance trade the council of agriculture said
first interstate the fourth largest california bank and the nineth largest nationwide owns 24 banks in 12 western states and has franchise operations in four additional states
it said the offering will be made only by prospectus
inflation is expected to be 40 pct at the end of 1987 he said adding it may exceed 45 pct by the summer before falling back to 40 pct by the end of the year
bally manufacturing corps proposed public offering of 24 pct of its health and tennis corp unit is seen as the first step towards the sale of the entire unit analysts said
belgium cuts treasury certificate rates
lutterbach said it is possible second quarter results will be restated though final net income for the year will remain in the estimated range
details of the latest initiative including an invitation for offers from exporters will be issued in the near future the department said
from april through december 1986 the commodity credit corporation ccc issued 385 billion dlrs worth of generic certificates and about 18 billion had not been exchanged by january 1 1987 the us agriculture department said
1986 results include accounts of 89 pct owned precambrian shield resources ltd acquired november 5 1986
the west german federal state of schleswig holstein is issuing a 400 mln mark domestic bond carrying a coupon of six pct and priced at 10040 lead manager landesbank schleswig holstein girozentrale said
api said distillate stocks dropped four mln barrels for the week ended march 20
over the past year taiwanese businessmen have delayed imports of machinery and production equipment because of exchange rate uncertainty he said
row crop activity was very slow amid wet conditions
cancapital corp said it sold four mln common shares and one mln common share purchase warrants of poco petroleums ltd to merrill lynch canada inc and first marathon securities ltd for resale to public investors
i know of no other country which is implementing such a free floating policy he added
total offtake in the first four months of the current year was 271 mln tonnes including 241000 tonnes imported for domestic use and 4000 tonnes for export against 281 mln tonnes including 993000 imported for domestic use and 3000 tonnes for export in the corresponding period of 1985 86
allis chalmers corp said it expects cash proceeds from the proposed sale of its solids processing equipment and minerals systems businesses to exceed 90 mln dlrs with no material gain or loss anticipated from the planned sale
norsk hydro is issuing a 100 mln dlr bond due april 9 1997 carrying a coupon of 8 1 4 pct and priced at 101 5 8 said swiss bank corp international as lead manager
citibank cited the higher cost of money especially in the euromarket as the reason for raising its prime rate
mindscsape inc said it agreed to buy the educational software unit of holt rinehart and winston inc a subsidiary of harcourt brace jovanovich inc for undisclosed terms
gould incs systems protection division said it selected merrill lynch interfunding inc to provide financing for the purchase of the division from the parent company
he warned the bank may run the risk of missing the interest rate boat
hutchison said earlier it will sell its entire 235 pct interest in hongkong electric holdings ltd hkehhk to cavendish international holdings ltd itself a spin off from hongkong electric
gelco gel to sell canadian courier unit
us senate group urges subsidies for ussr
bank statistics show the overall 1986 rise in m 1 money supply was 1091 pct with a year end position of 38959 billion dinars
toyota shojis business group collected an estimated 200 billion yen from about 30000 clients many of them pensioners and housewives before the firm went bankrupt in july 1985 according to lawyers
a foster spokesman said he did not know the names of the president and controller and could not immediately comment on the release
since the last ministerial meeting there have been some advances such as mexicos growth oriented 77 billion dlr loan and refinancing package agreed last september
we are looking for profits from the estate agencies themselves as well as the insurance products associated with them corby said
us said unfairly protecting defense industry
hughes board had previously found unacceptable a us justice department consent decree that would have required broader divestitures
bci was set up last year by baring brothers to advise buy out and development capital investors
brazil declared last month a moratorium on payment of interest on its medium and long term debts
veba share placement still expected this month
citicorp switzerland pioneered warrants with a series of equity linked covered issues based on japanese company shares over the past two years and last autumn swiss banks launched covered warrants in swiss registered shares in a bid to give foreign investors a chance to play in a market otherwise closed to all but swiss citizens and to play it with higher leverage
dubin clark said its group includes roberts management and london investment company j
thatcher defends uk oil policy in saudi interview
angus said the prospectus for the sale of parts of chesebrough was due to be published shortly
the meeting had been postponed from its original date of may 14 in order to let management review recapitalization options it said
investor has technology development tdcx stake
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
shell caltex bp revise singapore petrol prices
miguel alfaro president of the agricultural league of the sugar cane industry said the sale follows a recent 50 pct cut in costa ricas quota for sugar exports to the us alfaro said up to 45000 tonnes of sugar could be exported to the soviet union this year under the deal which is similar to one the soviets made recently with the dominican republic
us february trade to be reported on new basis
it was down over three points wednesday morning before closing down 7 8
the pioneer sugar investment would give csr by far the largest stake in australias 850 mln dlr a year sugar industry and access to some of the best sugar properties and mills in the country they said
bank deposits of five years or more carrying 11 pct interest have been abolished
chicago mercantile exchange floor traders and commission house representatives are guesstimating todays hog slaughter at about 280000 to 300000 head versus 294000 week ago and 303000 a year ago
staley referred to justice department recommendations to greene last month that restrictions on manufacturing information services and out of region long distance service be eliminated
lawson reiterated the governments aim of reducing basic taxation to 25 pence in the pound but added given my decision to use the greater part of the fiscal scope i now have to reduce the psbr that goal cannot be achieved in this budget small companies corporation tax is also being reduced to 27 pct he said
they said the issue is led by union bank of switzerland
friday the stock closed 1 5 8 points higher
officials said darman felt the passage of tax reform late last year marked an appropriate moment to bow out
dividend payable may 25 books close april 28 to may 6
the nine closed stores which had pretax operating losses of 17 mln dlrs in 1986 are being sold to provide cash for operations
fitchburg gas and electric light co said its board of directors authorized a filing with the massachusetts department of public utilities seeking authority to issue up to 27 mln dlrs of long term notes
barreto said my objective is put epac into the tenders because it has a right to take part he added the government would be studying the court order to see whether or not the ruling could stop epac from participating in future tenders
grease monkey holding corp said it has received and rejected an unsolicited merger offer from jiffy lube international inc lube the company said the proposal involved an exchange of grease monkey common stock for a combination of jiffy lube securities with an estimated current value substantially below grease monkeys current market price
japan february interim trade surplus jumps
bank of montreal had 198 billion dlrs in loans to brazil as of last september 30 the most of any canadian bank
oil markets show respect for new opec accord
us makes conciliatory move at rubber pact talks
they said they heard of the closure from ibc officials but no officials could be reached immediately for confirmation
food handling which also produces equipment for the commercial baking industry was privately owned by richard shumway of mesa ariz and vic ferrara of dallas both of whom will remain with the company
healthmate inc hmte 4th qtr loss
the payment was in connection with dixons previously announced agreement to increase its tender price for cyclops to 9500 dlrs per share cycacqs ending of its competing bid and the ending of litigation between the parties
the second biggest loss of life in peacetime was in 1914 when 1014 people drowned when the liner empress of ireland collided with a freighter on the st lawrence river in canada
with french unit productivity costs now among the lowest in the oecd area the inflation differential between france and its main trading rival west germany could fall to just one pct this year it said
the cyprus based newsletter also said authoritative libyan oil sources said libya was producing 850000 bpd compared with its 948000 bpd quota and that actual liftings are much lower than that
group balance sheet volume rose by 80 pct to 14815 billion
proceeds of the sale will be used to reduce debt incurred in the purchase of the arnold foods and old london specialty baking businesses and the stock repurchase program that was part of the restructuring
fees are 1 1 4 pct for selling and 5 8 pct for management and underwriting
the other offering will be 75 mln dlrs of convertible subordinated debentures due 2012
at current market levels it would suffer a 70 mln dlr aftertax loss on its holding a spokesman said
standard and poors corp said it raised to bbb plus from bbb hechinger cos 86 mln dlrs of convertible subordinated debentures of 2009
institutes see no west german recession
under the current system investors must also pay 06 pct of face value as brokerage fee to securities houses for transactions involving principal over 30 mln yen
the soviet union was argentinas main customer and japan was also becoming a bigger importer of the countrys maize he said
rosario wheat 50400 maize 157040 subproducts 50100 sunflowerseed 1000 and millet 3100
japan is now the second largest shareholder in the banks concessionary lending affiliate the international development association ida it has also agreed recently to expand its contribution to another affiliate the international bank for reconstruction and development ibrd conable noted
the transaction is subject to fcc approval
qtly div 45 cts vs 45 cts previously pay may 1 record march 31
the vote was 1229 or 545 pct against and 1028 or 455 pct for the contract
in january producer prices rose 02 pct from december the first monthly rise since october 1985 but they were down 44 pct from a year earlier
the dot said the merger was unlikely to substantially reduce competition on the four routes on which both carriers provide either nonstop or single plane service
others argue the merger was more cost effective than creating a comparable branch network from scratch
italys average interbank rate rose to a provisional 1218 pct in february from 1205 pct in january figures from the bank of italy show
the issue is an important one because congressional budget committees are known to be considering limiting the use of certificates as a means of cutting spending
soviet charterers reappeared in the timecharter sector and secured a 30000 tonner from savona for a trans atlantic round trip at 4450 dlrs daily and a 31000 tonner from antwerp hamburg for a similar voyage at 4250 dlrs daily
some industry analysts speculated earlier this week that tenneco might follow transcos lead and close its pipelines to open access because of the take or pay issue
usda estimates farm subsidies will reach 253 billion dlrs in 1987
housing starts in september were down 12 pct from a seasonally adjusted 1689000 units in september 1986
atlantic american corp aameo 3rd qtr net
cheyenne chyno buys interests in properties
company went public in august 1986
the company also said it raised the dividend on its common stock by two cts to 33 cts a share on a pre split basis
philippines to lobby us for higher sugar quota
shr profit 26 cts vs loss 86 cts oper net profit 780000 vs loss 2609000 revs 122 mln vs 171 mln year oper shr profit 528 dlrs vs loss 111 dlrs oper net profit 161 mln vs loss 3311000 revs 649 mln vs 698 mln note 1986 year net excludes 598000 dlr tax credit
vernitron vrn sets new record date
last night hughes said the planned merger with baker was off
shr 87 cts vs 77 cts fin div 90 cts vs 90 cts group net 235 mln dlrs vs 208 mln turnover 2127 mln dlrs vs 5954 mln note fin div pay may 27 record may 23
lawson said he was still worried about the risk of a simultaneous recession in the united states japan and west germany though less so than when he gave his march 17 budget speech to the british parliament
the banks rejected the original pins proposal last friday but ongpin presented a revised proposal on monday which sought to satisfy the banks objections by guaranteeing that the notes would yield 7 8 pct over libor in cash
those who believe the fed tightened policy in the latest statement period have to explain why it acted before the dollar tumbled said mccarthy of merrill lynch
american express has said the total employees of shearson will expand by 20 pct in 1987 internationally
the move appears to be an effort to dampen us opposition to the planned merger of two rival firms seeking to compete with the current monopoly kokusai denwa denshin co ltd and to reduce the share held in any kdd rival by uk s cable and wireless plc cawll industry analysts and diplomats said
nato ambassadors met in emergency session today to discuss tension between members greece and turkey over a disputed area of the aegean sea on the western alliances southern flank greek diplomatic sources said
shr 12 cts vs 13 cts net 414968 vs 449533 revs 5726722 vs 5276627 six mths shr 23 cts vs 33 cts net 779981 vs 1116857 revs 113 mln vs 113 mln
yonhap said the january september surplus in the current account which covers trade in goods and services totalled 703 billion dlrs
the merged markets will remain at the baltic exchange
oper shr 17 cts vs not available oper net 1619000 vs 6354000 nine mths oper shr 80 cts vs not available oper net 7675000 vs 22669000 assets 606 billion vs 574 billion loans 311 billion vs 333 billion deposits 457 billion vs 483 billion note 1987 operating net excludes tax credits of 39 mln dlrs or 40 cts a share in the quarter and 81 mln dlrs or 85 cts in the nine months period
redland already holds about 49 pct of moniers 15628 mln issued shares he said in a brief notice to the australian stock exchange
stephens inc co managed the deal
the maximum export rebate for barley was set at 13725 ecus and for maize at 12975 ecus per tonne
vernitron corp vrn 4th qtr and year loss
it said accumulated inflation for the first five months of this year was 338 pct against 241 pct for the same period in 1986
zenchiku issues 40 mln dlr equity warrant bond
neither brazil the largest producer nor the us the largest consumer are ready to be flexible delegates said
cargill uk strike talks break off without result
agency rent a car inc agnc 4th qtr jan 31 net
he noted that the number of motion picture admissions in the us has shown no growth in 15 years
he said peruvian producers were hoping for an increase this year in the 13 pct export quota about 913000 quintales assigned to them by the international coffee organisation ico
earlier american express and shearson said they were subpoenaed by the securities and exchange commission
expenditure based gdp rose 12 pct in the fourth quarter of 1986 from the third quarter and was up 29 pct from the same 1985 quarter
h robins co the drug company in bankruptcy proceedings due to litigation over its dalkon shield contraceptive device reported consolidated net earnings for the month ended january 31 of 173 mln dlrs
they said their overseas borrowings and forward dollar transactions showed a drastic decline with some banks registering a fall of up to 30 pct
the borrowers want to take advantage of low japanese interest rates but have no need for yen
he said if the americans drop their interest rates then the bundesbank would also drop them
reserve governor bob johnston last week acknowledged an element of targeting the rate against the yen in currency policy when he said authorities could not take their eyes off the yen because of the crucial role of japanese investors
kuroda said on leaving tokyo today he had no new proposals but did have an explanation of the semiconductor situation
argentine grain growers reduced their estimates for maize and soybean production in the current harvest in the week to yesterday trade sources said
a group led by halcyon investments a new york securities and risk arbitrage partnership said it has acquired 486400 shares of atlantic research corp or 64 pct of the total outstanding common stock
shr 23 cts vs 46 cts net 987000 vs 1990000 revs 146 mln vs 150 mln year shr 89 cts vs 132 dlrs net 3846000 vs 5690000 revs 581 mln vs 566 mln
the company said earnings per share for the period should be between 23 cts to 26 cts
german sugar offers put at about 100000 tonnes
the us insists the ec complies with what it regards as an unambiguous ruling from the world trade body gatt and dismantles an export subsidy system which has led to italy taking an increasing share of the us pasta market
commonwealth bank cuts australian split prime
february imports were 600 billion francs against exports of 537 billion
saito said the most effective government action would be income tax cuts and the postponement beyond next january of a proposed controversial sales tax
total estimated paddy output for 1987 would be between 90 and 110 mln bushels or 135 to 165 mln tonnes of rice
terms of the acquisition were not disclosed
the minister said he wants to tell us political leaders of the sacrifices japan is making to cut its trade surplus
businessland inc is raising 50 mln dlrs via an offering of convertible subordinated debentures due 2007 with a 5 1 2 pct coupon and par pricing said lead manager shearson lehman brothers inc
the management plan would result in a balance sheet with about 25 billion dlrs in debt and nearly 500 mln dlrs in preferred stock convertible into 45 pct of the common stock
australian crude oil and condensate output fell 76 pct to 23480 megalitres or about 147 mln barrels in the first nine months of fiscal 1986 87 ending june 30 the department of resources and energy said
the government officially estimates 1986 rice production at 267 mln tonnes with a forecast 273 mln tonnes output in 1987
the results were broadly in line with analysts forecasts and the companys shares firmed in morning trading to 421p from 413p at fridays close
cea investors partnership ii has planned the partnership to be operated by michaels who is chairman and president of communications equity associates inc a media brokerage firm video said
first chicago later said that lead managers participating in the syndicated loan would receive a flat fee of 35 basis points
alza also said it expects the debentures will be listed on the luxembourg stock exchange
but he did not elaborate or name any countries
moodys may downgrade caesars caw and unit
bayer said that the decline in world group turnover to 4075 billion marks from 4593 billion in 1985 reflected mainly the sharp fall in the dollar against the mark
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
industrial production in the european community ec in january showed no growth compared with january 1986 the ec statistics office eurostat said in a report
purolators stock slipped 3 8 today to close at 34 3 4
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
us 2 year note average yield 643 pct stop 644 pct awarded at high yield 85 pct
the united states and india have not yet agreed on a food aid package to help the drought stricken asian country agriculture secretary richard lyng said
a finance ministry statement said the increase should boost the price of petrol by 013 crowns to an average of 421 crowns per litre while light grade heating oil would go up by 30 crowns per cubic metre to an average of 1665 crowns
washington is pressing taiwan to open its markets wider as a way of cutting its trade deficit with the island which rose to 235 billion us dlrs in the first two months of 1987 from 187 billion in the year earlier period
union valley corp uvc 4th qtr net
japan has far too much at stake in this relationship with the united states to seriously entertain thoughts of retaliation yeutter said
the daily price was 157761 sdr per tonne yesterday
current season cumulative movement was 79516753 gallons versus 76919119 last year
west germany sharply boosts aid to bolivia
taft said friday it would negotiate with its vice chairman dudley taft on his groups 150 dlr per share or 138 billion dlr offer for the company
glickman which instructs the us agriculture department to value eep bonus commodities at market value not acquisition value
corrects headline and dividend figure in item appearing march 17 to show dividend was raised
the interministerial committee on credit and savings headed by treasury minister giovanni goria said its decision reflected the need to safeguard the principle of separation between banks and non financial concerns it did not quantify what might constitute a dominant holding
and the us company doe run has kept its 140000 tonnes per year boss montana smelter closed
only about 10 vessels are being delayed but the bans will affect container terminal movements and will disrupt liner schedules they said
each share of orbancos 100 dlr par value preferred stock will be exchanged for 100 dlrs cash plus accrued dividends
american pork congress to be overhauled in 1988
cpc said it had not received a reply from inoc since december
frances growth rate is expected to strengthen in the second half of this year after a poor first half but unemployment will worsen the organisation for economic cooperation and development oecd said
he didnt say how much stock he had
partly offsetting these outflows exchequer transactions will add some 120 mln stg to the system today
noranda inc said it will sell 150 mln dlrs of adjustable convertible subordinated debentures to a group of investment dealers led by gordon capital corp
this monetary tightening reflected a switch from the pragmatic line pursued by bundesbank president karl otto poehl since early this year to stabilise the mark externally to the more cautious approach of vice president helmut schlesinger
but it left open that it might make other changes in gencorps operations after it completes the merger
he also said coopervisions stock fell in 1986 due to its second quarter loss rumors of a liquidation at 30 dlrs and 35 dlrs a share and ivan boeskys subsequent sale of his position
shr four cts vs nine cts net 125465 dlrs vs 245718 dlrs revs 84 mln dlrs vs 78 mln dlrs notethe fiscal year ended march 31
economic spotlight japan pushes its chipmakers
shr 18 cts vs 13 cts net 1706601 vs 1226609 rev 427 mln vs 363 mln avg shares 9695444 vs 9537043 note companys full name is international dairy queen inc
previously it had held 841887 shares or 85 pct
the government will also repay some of its external debt which stood at 51 billion ringgit at the end of 1986
yet the ecu is now around 1734 yen
brazil which would have had its quota reduced under the group of eight scheme blocked the proposal
the march consumer price index same base rose 05 pct to 1460 after a 01 pct gain in february for a year on year rise of 17 pct
world shipowners hope japanese yards can manage to ride out the recession as their technology is the best in the world said an official at a major japanese shipping company
it said the decision may be appealed
dominion textile inc considers a published report that it has bought a stake in burlington industries inc and is considering making a joint bid for the company to be a rumor a company spokesman said
these cutbacks were due in part to buyer resistance to fixed prices introduced from february 1 particularly for fixed volumes over an extended period
there was some 44 billion dinars about 157 billion dlrs in outstanding bank credit at the end of 1986 of which one quarter to one third was estimated by bankers to rank as bad or doubtful debt
in effect international firms would be paying part of manilas interest bill allowing the government to conserve much needed hard currency
one finance ministry economist said it isnt more
under terms of the agreement chemlawn said it rescinded its previously announced rights dividend plan
allied signal inc said it agreed to sell its amphenol products unit to a subsidiary of lpl investments group lpli a wallingford conn investment company for 430 mln dlrs cash
barco directors approve buyout offer from senior management
lear siegler eventually went private for about 166 billion dlrs
total health tlhto to make acquisition
the holiday bonds will be bought back at 1016 pct of the bonds principal amount plus accrued interest or 103869 dlrs per 1000 dlr face amount
the new bearer shares would be priced at 1500 francs compared with a closing price last friday of 3325 on the zurich stock exchange while the registered shares would be issued at 300 francs against a market price of 900
cpi corp cpic to post higher 1986 results
bank of spain suspends assistance drains funds
csr ltd csras has made a bold move in selling its oil and gas interests for almost a billion dlrs and ploughing 150 mln into its traditional sugar business share analysts said
venezuela is one of the few latin american debtors which has not drawn standby or extended fund facilty loans from the imf since the regions financial crisis began in 1982
allwaste inc said it entered into an agreement in principle to buy tank cleaning co a privately held company that cleans tank trailers in exchange for about 13 mln shares or allwaste common
the following proposed securities offerings were filed recently with the securities and exchange commission columbus and southern ohio electric co subsidiary of american electric power co inc aep offering of 100 mln dlrs of first mortgage bonds due 2017
great northern nekoosa gnn 1st qtr net
at midday the central bank lowered its money market dealing rates by the same amount
the company reported second quarter net income of 126 mln dlrs or 41 cts per share compared with income of 75 mln dlrs or 25 cts per share a year earlier
the commodity credit corporation ccc has authorized an additional 80 mln dlrs in credit guarantees for sales of vegetable protein meals to hungary for fiscal year 1987 the us agriculture department said
in addition to the increase in first quarter shipments we have announced new offerings in our large processor and personal computing product lines it said
national heritage nher buys management firm
suddenly theyre standing at the centre of the world community and in that sense theyre at a loss as to how to face the situation most recently the ministry has been embroiled in a row with london over efforts by britains cable and wireless plc to keep a major stake in one of two consortia trying to compete in japans lucrative overseas telephone business
the previous tokyo low was 14055 yen set on april 15
the company said hanson trust is purchasing the stock for investment purposes adding the agreement includes restrictions on purchase or sale of the company by hanson for the next five years
it said fees totalled 1 3 4 pct of which 1 3 8 pct for selling and 3 8 pct for managment and underwriting combined including a 1 8 pct praecipuum
this type of issue gives the holder the opportunity in times of falling interest rates to ensure himself of a fixed maturity loan while with unchanged or rising rates he has the option not to exercise his warrant amro said
taiwan will relax import controls on more foreign goods a government spokesman said today
frank b
such fees could total about 30 mln dlrs
tribune swab fox cos inc tsfc 4th qtr loss
xidex corp xidxo 1st qtr sept 30 net
the margin for the loan remains unchanged and no penalty interest is being imposed the sources added
both shipments are c and f taiwan and are set before march 16 the spokesman said
we dont think agreements are the best instrument to help developing countries
turkey sent the survey ship sismik 1 into the aegean yesterday flanked by warships to press its case but having earlier said it would go into disputed waters declared the vessel would stay in turkish areas
meridian an oil and gas company whose operations are primarily in oklahoma said the acquisition will increase its its consolidated assets to 30 mln dlrs and its contractually committed gas reserves to more than 40 mln dlrs at discounted present value
although most industry experts expect just a reaffirmation of the december agreement oil prices continue to climb due to a desire to hedge positions in case of any surprises
massachusetts investors growth stock fund payout
while the measure does not bind reagan to any action senate leaders said its adoption would warn japan stiffer legislation would be considered if the violations continue
the next move is either icahn starts a tender offer or piedmont and usair announce a deal speculated one arbitrager
1986 results were restated to reflect the change
its not unusual for a stripper well to cost 18 dlrs malmgreen said
ec official says fate of veg oil tax uncertain
westcoast transmission co ltd said it agreed to acquire the western canada oil and gas reserves and properties of agip canada ltd a subsidiary of agip spa part of italys eni group for 54 mln canadian dlrs
the cds will be issued at par in denominations of 100000 dlrs each
under the commissions system for stabilising consumer prices in the oils and fats sector a reference price of 700 ecus per tonne for refined soy oil would be introduced tanghe said
citibank the chairman of argentinas bank advisory committee said yesterday that subscriptions totalled about 91 pct
qtly distribution 7 1 2 cts vs 7 1 2 cts prior excluding 2 1 2 cts special pay april 30 record april 22 note full name is universal medical buildings lp
fed data indicate no policy change likely
bally reportedly already has been approached about six flags by several prospective buyers
the plan would initially apply to cereals beef veal and wine they added
new currency problem seen among us europe japan
paloma petroleum ltd year net
sama offers a total of 19 billion riyals each week in 30 91 and 180 day paper to banks in the kingdom
in a briefing ahead of this weeks semiannual imf and world bank meetings he also said the us was looking to west germany and japan to bolster their economic growth
at midday here the dollar stood at 18340 45 marks
the issue which matures on may 7 1990 has a 14 1 2 pct coupon and is priced at 101 3 8 pct
eagle clothes inc egl 2nd qtr jan 31
the us austin co and japans kawasaki heavy industries inc said they have joined to compete for contacts for a new japanese airport at kansai near osaka
the company estimates a production system combining both graven and east flank blocks in the terra nova field could produce about 45000 bpd average daily production he said
it said both the split and the dividend are payable may 23 to holders of record april 20 adding the company will have about 13860000 shares outstanding after the split
qtly div 20 cts vs 20 cts prior qtr pay 6 may record 21 april
syngold has earned a 20 pct interest in the deka property from the operator corp falconbridge copper
cyacq also said the citicorp unit had received no indications of interest in an alternative offer it had made from dixons cyclops or alleghany corp y which has agreed to acquire cyclops industrial group from dixons
it is available in denominations of 1000 and 10000 australian dlrs and the payment date is april 6
mitsui and co ltd said it plans to issue 300 mln eurodollar warrant bonds in two tranches with payment on march 30 through a syndicate led by nomura international ltd
the rash of advertising to solicit new business has helped homebuyers to become even choosier about loans and lenders concede they are being forced to undercut each other still more
intel overseas corp a unit of intel corp is raising 110 mln dlrs through an offering of notes due 1997 yielding 818 pct said lead manager shearson lehman brothers inc
hanover insurance hins get split approval
the us department of justice doj is reviewing whether trans world airlines inc twa and chairman carl icahn violated federal antitrust law by failing to seek advance clearance from the doj or the federal trade commission for his extensive open market purchases of usair group inc u stock a doj official told a senate panel
the cso said that at current prices gdp rose 127 pct to 82 billion zimbabwe dlrs but inflation measured by the gdp deflator was estimated at 122 pct so there was virtually no growth in real output during 1986
weiss said sales for 1987 have been strong following a net loss of 1548000 dlrs or 53 cts a share for the fourth quarter of fiscal 1986
he said consumers would soon return to the market in search of crude
chuan hup holdings ltd said it has signed a 28 mln us dlr guaranteed floating rate note due 1990 with a group of banks to refinance the companys existing borrowings and to provide medium term funds
the payment date is may 6
none of the new missiles had been fired yet it added
sri lanka offers 250 mln rupees in t bills
and pb myers packaging business to union camp corp to focus on its consumer products and automated distribution system businesses
emery said purolator would operate as a wholly owned unit of the company after the merger
the debt service ratio has risen to a projected 33 pct for fiscal 1987 88 from 25 pct in 1986 87 ending march 31
ich corps stock continued under pressure because of lower earnings expectations wall street analysts said
the british aerospace pension fund holds 215 mln ordinary shares in systems representing a stake of 19 pct
however all business sectors contributed to the positive results achieved in 1986 krupp added without giving details
pratt which owns the sands hotel and casino in atlantic city nj where caesars operates the boardwalk regency hotel and casino recently waged an apparently unsuccessful campaign to acquire control of resorts international inc rta against new york developer donald trump
thomson takes over thorn emi audiovisual
they said a cargo of the mideast benchmark crude dubai traded yesterday at 1650 dlrs a barrel compared to its official price of 1742 dlrs
oper shr loss 16 cts vs loss 44 cts oper net loss 8926000 vs loss 144 mln revs 9920000 vs 212 mln year oper shr loss 430 dlrs vs loss 224 dlrs oper net loss 2218 mln vs loss 537 mln revs 514 mln vs 944 mln note oper net excludes losses from discontinued operations of 228000 dlrs vs 4253000 dlrs for qtr and 104 mln dlrs vs 142 mln dlrs for year
national patent development corp npd in payout
the results were largely in line with analysts expectations and bat shares firmed by two pence to 537p at 0955 gmt
all bauxite mining at moengo ceased four months ago and suralcos paranam alumina smelter is using imported bauxite
it now appears likely that the companys throttle body business with general motors corp gm will peak in the first six months of 1987 continue at reduced levels to july 1988 and suffer an interruption for the period from july 1988 to july 1989 walbro added
essex chemical esx to sell convertible debt
pinnacle west capital pnw buys mineral rights
the company said in a statement that cash flow had improved strongly although it remained negative at 182 mln francs against 134 billion in 1985 due largely to improved performances by its main profit centres
this compares with a 33 mln dlr deficit revised from 17 mln in january and a 361 mln dlr deficit in february 1986
the meeting has been requested in order to amend the negative pledge and financial covenants which have proved to be too restrictive in light of the companys activities it said
oper shr loss 11 cts vs profit two cts oper net loss 1058585 vs profit 282998 revs 244 mln vs 237 mln note 1986 oper includes accrued interest of 686914 from financing of capital goods transaction with prudential bache trade corp
it said the strike was called to defend the nationalised mining industry
shr 14 cts vs nine cts net 217572 vs 153454 revs 2530273 vs 2558924 1st half shr 19 cts vs 11 cts net 299838 vs 174739 revs 4865249 vs 4495021
the consideration for mortons fixed assets stocks debtors and goodwill is payable on completion of the sale
it said it is prepared to negotiate its offer
a gaf spokesman said the company asked for the information in order to enable gaf to fully evaluate its alternatives
1987 amounts include operations of burgdoff realtors acquired during december 1986 and other operations
but he declined to specify what share the firms would take and told they would not participate in its management
shr 36 cts vs 66 cts net 4775000 vs 9342000 revs 1055 mln vs 1300 mln
allis chalmers corp said it has sold its elex ag unit in zurich switzerland to private investors for an undisclosed amount
silver state mining ssmc corrects net
each bond is accompanied by a warrant giving the right to subscribe from september 1 to 30 1987 to a new cne 870 pct bond due october 1997 with a par issue price
the union bank subsidiary of standard chartered plc said today it was raising its prime lending rate to 775 pct from 750 pct effective immediately
richard gephardt a missouri democrat to force countries such as japan south korea and taiwan to cut their trade surpluses with the united states
the company said stuart karl president and chief executive officer court shannon executive vice president and gary hunt vice president sales resigned effective immediately
but baker said at the weekend that the west german rate rise was not in keeping with the spirit of what we agreed to what im really saying is that they should not expect us to simply sit back here and accept increased tightening on their part on the assumption that somehow we are going to follow them he added
subscriptions close april 24
it will file an amended domestic registration statement for the eurodollar offering and reduce the size of the domestic offering to 300 mln dlrs
the bank of england said it forecast a shortage of around 350 mln stg in the money market today
telex corp said its board has directed management and financial advisor drexel burnham lambert inc to investigate possible alternatives to the tender offer of asher edelmans tlx partners for all telex shares that may include seeking other purchasers for telex
four months ago the department allowed the private sector to import sugar without government clearance
the feasibility study anticipated gold production of 49600 ounces a year at a cost of 129 canadian dlrs a short ton they said
but moodys noted that after the major asset writedown and divestiture progress achieved by standard oil in 1985 fewer non petroleum assets are available for sale
it appears ever more likely that new discoveries elsewhere will not change this fact he said
some 7000 south african miners return to work
analysts estimated that computerland whose 800 stores generated 14 billion dlrs in sales last year would fetch 150 mln dlrs to 250 mln dlrs
bache securities japan ltd hoare govett far east ltd and j
we dont want that
crossland savings fsb said it has acquired western savings and loand co with the assistance of the federal savings and loan insurance corp
first federal savings and loan association of charleston said executive vice president al hutchinson jr
he said usx also did not plan to sell any of its 49 pct interest in the giant yates field in west texas
the cmos were assigned a 765 pct coupon and par pricing
he said he did not think japan would retaliate
it said 600000 dlrs of the loan will cover the foreign exchange costs of consultancy services equipment and training abroad for technical and financial personnel
especially sought were spot east african and ethiopian and some brazils they said adding that some high grade robustas also met some demand
uk oil revenue forecast to fall in 1987 88
asea babcock pfbc is a joint venture between its babcock and wilcox unit and asea pfbc of sweden
the spokesman said the transaction was accounted for as an acquisition but the securities and exchange commission took issue with the accounting method and said it should be accounted for as a reorganization of entities under common control
azpurua told reporters after a cabinet meeting the new budget projects ordinary income of 149925 billion bolivars and extraordinary income of 34186 billion
usda offers eep barley malt to colombia
that is utterly ridiculous the texas democrat told reporters
of the 02 point contribution of foreign trade to gnp last quarter falling exports knocked off 02 while falling imports contributed 04 point
but an overlifting by texaco inc in the first quarter allowed other companies like exxon corp to underlift its obligations under the contract piw said that that one alternative under consideration is to revert to four individual contracts rather than a collective agrement
skyline skxv expects to begin mine in july
the action was taken at the request of iraqs state trade organization for grains and foodstuffs and reduces the line for hatching eggs to zero and the line for breeder livestock from 150 mln dlrs to 80 mln dlrs the department said
commercial paper outstanding nationally dropped 375 mln dlrs to 33663 billion
fed adds reserves via customer repurchases
dealers said a large proportion of the sales to the soviet union in the past few days involved japanese operators selling thai origin sugar
the bank said sterling bank lending grew by a seasonally adjusted 291 billion stg in february after a 170 billion stg adjusted rise in january
exports of the following commodities between start of current seasons and april 2 with comparisons as reported to usda by exporters in thousand tonnes unless noted 4 2 87 prev wk 4 3 86 wheat 210446 203983 197258 soybeans 143342 140635 146984 corn 202960 191946 251826 x sorghum 32225 31497 31689 x soybean oil 1384 1358 1799 soybean meal 40980 38806 31413 cotton 43331 42047 15104 x 2059300 tonnes of corn and 763800 tonnes of sorghum added to reflect change in marketing year to sept aug
us gold eagle sales projected at 31 mln ounces
but bankers said more and more saudi and bahrain based banks are boosting their treasury operations in london
i think its a good measure a senior foreign banker said
funaro who is in rome today will fly to tokyo on sunday after having completed a week long trip to the united states france england italy west germany and switzerland
we are not clear at all on his tactics
terms of the transaction were not disclosed
these include flows to and from the government relating to the privatisation of seven government departments on april 1
this does not reflect banking liquidity but the liquidity of industry and households which cannot be directly reached with the bundesbanks instruments mueller said
makumbi said when he returned from london on friday
note div pay aug 6
monumental corp a us insurer which merged with aegon in may 1986 saw its profits almost completely eroded by these costs and made only a small contribution to the groups profits
some firms laid off workers and cut bloated inventories
those who defend the continuously offered method such as wendy dietze a salomon brothers inc vice president point to the flexibility they offer in interest rate and maturity
the more pressing problem facing santa fe is overcoming difficulties in merging its two railroads the atchison topeka and santa fe railway co and southern pacific transportation co
davies cos to buy all of the special preferred stock
the apparently illegal trading activity took place away from merrill lynch through another broker dealer and involved the employees use of information which was properly available to him but improperly used the statement said
industrial equity pacific reported it bought 250000 shares of triton common stock on october 8 at 2250 dlrs a share
on pro forma basis as if all acquisitions had been in place from the start of the period company earned 5704000 dlrs or four cts per share on 1400 mln shares outstanding with revenues of 8262 mln dlrs for quarter and earned 141 mln dlrs or 10 cts per share on same number of shares and revenues of 241 billion dlrs for nine mths
they said idbs share in the portfolio which will only finance exports and imports of the private sector was limited to up to 25 mln dlrs
africa ban
earnings from the flick transaction were booked through a subsidiary and therefore showed up as part of the interest surplus in a section current earnings from securities and participations
the minister said the ec commissions new farm trade paper will recognise the heavy financial burdens imposed by its common agricultural policy and its future expansion
shr 84 rupees vs seven pretax profit 6507 mln vs 5556 mln net profit 3907 mln vs 3256 mln sales 824 billion vs 707 billion div 34 pct vs 30 pct tax 260 mln vs 230 mln dividend payable on june 3 the company is 51 pct subsidiary of unilever plcthe full name of the company is hindustan lever ltd hinubo
underwriters said floaters denominated in a foreign currency are a new wrinkle on wall street
david murdock chairman and chief executive officer said both our food business and our real estate operations increased their earnings during the year 1986 but he added that flexi vans 1986 results were hit by depressed daily rental rates for leased equipment caused by oversupplies
awb calls for tighter wheat quality controls
the unit had 1986 sales of 65 mln dlrs
3 1987 excludes 423 mln dlrs of interest expenses 416 mln dlrs of acquisition adjusments and 17 mln dlrs of income taxes
world bank president barber conable linked increased borrowing by indonesia the third worlds sixth largest debtor to fresh measures to deregulate trade and dismantle protectionist barriers
more us and european firms will be falling prey to japanese corporations bulging with cash and eager to extend their reach further overseas according to merger and acquisitions specialists polled by 
india is a country that has come a long way in its ability to produce food and they have a great pride in that lyng said
bermuda seeks 40 mln dlr revolving credit
in the last three months period manufacturing productivity was up 67 pct having increased 65 pct in the first quarter
around 140 grain handlers stopped work 125 of them at the two europoort locations of graan elevator mij gem which handles about 95 pct of grain oilseeds and derivatives passing through rotterdam
on that basis the trade surplus declined slightly in february to 916 billion dlrs from a record 958 billion in january
the march 30 sale to be evenly divided between the three and six month issues will result in a paydown of 12 billion dlrs as maturing bills total 1399 billion dlrs
south africas total gold and foreign assets rose by 700 mln rand in february to 62 billion rand after rising by almost one billion rand in january reserve bank governor gerhard de kock said
ply gem industries inc pgi 3rd qtr net
westinghouse electric wx optimistic for year
using soybean specific certificates to further buydown the loan rate or implementation of a marketing loan have been pointed to as the most effective ways to get soybean prices competitive
at the moment commercial paper is a cheaper form of credit than the traditional kasgeldleningen said amsterdams financial alderman walter etty after signing the contract
the finance ministry has accepted a decision by the securities industry to expand the share of foreign brokers in the 10 year bond underwriting syndicate to 573 pct from 119 pct now a ministry spokesman said
combined sales were 42 billion dlrs up from 40 billion dlrs in 1985 the company said
mobils strategy in the exploration and production sector will be to give most attention to exploration possibilities with the greatest long term potential the company said
merrill lynch capital markets and shearson lehman brothers inc are lead underwriters unocal said
santa fe southern pacific corp will later today formally ask the us interstate commerce commission icc to reconsider its earlier rejection of the merger of the holding companys railroad assets a company spokesman said
dealers here were loath to quantify the scale of bank of japan action this morning
diagnostic drs makes a bid for rospatch rpch 
itt canada ltd year net
fruit of the loom inc said it is offering 60 mln dlrs of 6 3 4 pct convertible subordinated debentures due march 2002 and 250 mln dlrs of 10 3 4 pct senior subordinated notes due july 1995
the tankoku mature on september 21 1987
call money rates fell to 385 95 pct from five pct yesterday in moderate trading as month end tightness disappeared and operators took positions for april
degussas contribution would provide a major portion of international platinums exploration budget especially during the first and second year of the proposed joint venture the company said
the country also bought around 30000 tonnes of ec soft wheat 12 days ago at 80 to 81 dlrs a tonne fob they said
lme warehouse stocks are now near a two year low at 28065 tonnes having fallen steadily from a record high of 72485 tonnes reached in february 1986
lawson says uk election not only ems bar
earlier markets were bracing for a one point cut in rates after yesterdays budget set a sharp three billion stg reduction in 1987 government borrowing targets to four billion stg
indian reserve bank tightens credit policy
the announcement of the meeting also attended by bundesbank president karl otto poehl was made simultaneously in bonn and washington timed for after the closure of new york markets
lyng said the us has been trying to reduce farm product output with expensive programs maki said
financial performance corp said it continued its rapid expansion with a signing of a partnership agreement with gold sierra financial advisors founded by former bank of america officers in capital markets
the 0 92 program which would allow farmers to forego planting and still receive 92 pct of their deficiency payment would be most used by producers in high production high risk areas where cost of production is high said keith collins director of usdas economics analysis staff
us treasury secretary james baker met west german finance minister gerhard stoltenberg and bundesbank president karl otto poehl in frankfurt on monday a bonn finance ministry spokesman said
icco buffer stock manager to buy 5000 tonnes cocoa tuesday june 2 official
it said the new agreement will at its option convert to a four year term loan in september 1988
they said the relaxation of controls was now under review by the petroleum council an advisory panel to the ministry of international trade and industry miti a spokesman for a major firm said deregulation would bring about a reorganization
dealers quoted one week at eight seven against an early 9 1 2 7 1 2
along with western nations japan has witheld new official credits to poland since february 1982 following the 1981 declaration of martial law in poland
however he said that there was no target date for completing the process
in a statement the company said it defeated a hostile takeover attempt by gaf corp gaf and recapitalized the company adding while all this was going on our continuing businesses performed very soundly with substantial operating profit improvement over 1985 carbon products posted operating profit of eight mln dlrs in the quarter down from 29 mln dlrs and 49 mln dlrs in the year against a loss of 146 mln dlrs
the measure of private sector liquidity psl2 rose an unadjusted 09 pct in february making a year on year unadjusted 131 pct rise
iraq said its warplanes hit two ships off the iranian coast in attacks last night and early today
lifetime lft to buy shares of nippon lace
piedmont also received an offer from norfolk southern corp nsc of 65 dlrs cash per share
david wood official spokesman of the general agreement on tariffs and trade gatt told a news briefing the decision was taken after bilateral consultations failed to resolve the row
cattle slaughter is guesstimated at about 125000 to 131000 head versus 129000 week ago and 119000 a year ago
shr two cts vs three cts net 21080 vs 35393 revs 2026017 vs 2476068 nine mths shr five cts vs six cts net 48567 vs 59527 revs 6231242 vs 6519473
it said outstanding loans as well as amounts which could be drawns under issued letters of credit will be securited by accounts receivable and inventories of certain ltv subsidiaries
us said to view g 7 meeting as major success
the central bank spokesman said operations over 15 billion pesetas were technically subject to authorisation but would be given clearance if the government failed to act in 15 days
the yen could rise to 140 yen to the dollar a leading japanese businessman said
pda said it anticipates resuming shipments in the fourth quarter
fed says us discount window borrowings 361 mln dlrs in april 8 week
abes visit is to prepare for prime minister yasuhiro nakasones talks with president ronald reagan later this month
the statement was issued during the last of a two day meeting here between the two sides
co steel inc 4th qtr net
bankamerica originally acquired schwab in 1983 for 57 mln dlrs worth of bankamerica common stock
qtly div 30 cts vs 30 cts prior pay april 27 record april 13 note companys full name is republic savings and loan association of wisconsin
if we got one per cent of it it would be a big improvement he said
the cut will encourage local importers to increase 1987 soybean imports to 19 mln tonnes from 174 mln last year he said
qtr ends jan 31 shr three cts vs one cent qtrly div seven cts vs seven cts prior net 106185 vs 28871 revs 469 mln vs 303 mln 12 mths shr 33 cts vs 23 cts net 1306595 vs 878484 revs 1872 mln vs 1408 mln note effective july one 1986 the company acquired the outstanding stock of western american forest product inc for cash and convertible debentures
sharp is a time sharing network and database company specialising in finance economics energy and aviation
norways parliament has approved an extensive trade ban against south africa but left shipowners a key loophole through which controversial oil shipments on norwegian tankers may continue government officials said
unidentified planes hit the field 100 miles off abu dhabi last november 25
world bank team arrives in uganda
building materials group boral ltd boals said it will raise 100 mln aus dlrs by placing 20 mln 75 pct convertible notes with institutions at 500 dlrs each
new york based upland is traded over the counter
fujitsu ltd itsut group year ended march 31
atlantic southeast asai traffic increases
brown and sons inc subsidiary is lead underwriter
alcan aluminium ltd said it has cut the expected cost of its planned laterriere quebec smelter by using enhanced grande baie reduction technology
hong kong cd market shuts down after new issue
at home commerzbank would probably bring the automotive supply group boge and clothing manufacturer ahlers to a stock exchange flotation in the first half of this year
the bonds which are non callable are rated a 2 by moodys investors service and a minus by standard and poors
kasgeldleningen or short term advances are a widely used instrument in the dutch market which has faced competition from cps since the finance ministry approved them in january 1986
this loan is for 15 years with nine years grace
the government feels that the pact through its buffer stock mechanism can help stabilise prices in a market which is labouring under surpluses officials said
so the december report was more bearish than initially indicated
growth was 114 pct in 1986
based on current interest rates it estimated in a filing that the move will reduce net income by about 800000 dlrs in the first quarter and 32 mln dlrs for all of 1987
health insurance revenues in the netherlands also rose despite a notable shift to insurances with lower premiums and higher personal risks
petromin also suggested that a sellers option of supplying up to 20 pct more than the contractural volume be subject to seller buyer agreement
japans trade surplus is likely to continue to grow in 1987 as sales of japanese goods abroad increase while domestic demand remains sluggish the organization for economic cooperation and development oecd said
spains state refiner empresa nacional de petroleo sa emp plans to build its second unit for production of methyl tertiary butyl ether mtbe a gasoline additive replacing lead company sources said
yesterday panteras stock closed at 950 dlrs on nasdaq while pizza inns stock was quoted at 12 dlrs when the amex halted trading pending the announcement of the proposed merger
listing will be in luxembourg and the bonds will be issued in denominations of one mln yen
at the meeting stockholders approved an increase in the authorized number of common shares to 200 mln from 15 mln
while finance minister dilson funaro is unlikely to succeed in his attempt at seeking an outright political solution to the debt problem brazils suspension of interest payments on 68 billion dlrs of commercial bank debt has convinced at least some bankers that new ideas are needed
eduardo de los angeles a government nominee in the smc board filed a formal complaint before the securities and exchange commission last week accusing soriano and eight other directors of violating fiduciary duty de los angeles was said to have opposed a decision by smcs board last december to assume the 500 mln peso neptunia loan
employment in manufacturing during fiscal 1987 88 was predicted to fall 550000 from the current year due to higher job losses in the steel shipbuilding and heavy electrical machinery sectors nomura said
the manila standard newspaper quoted rolando arrivillaga world bank representative in the philippines as saying the loan would be in three 100 mln dlr tranches
in order to receive the distribution beneficiaries must surrender the certificates representing their beneficial interests
weightings match the respective countrys share in finlands foreign trade
for the year ended june 30 charter reported net income of 79 mln dlrs
morgan said the notes will be reoffered to investors at variable prices
falcon cable systems fal 4th qtr loss
ranks hovis said the cash required for the cash alternative would be met by one of several methods
the company alleged that beginning in mid 1986 coastal and its chairman took various steps to acquire its gas and other assets
develcon electronics ltd dlcff 2nd qtr loss
freddie mac adjusts short term discount rates
trade with the us in 1986 rose 23 pct for exports and 12 pct for imports in dollar terms but fell 13 pct for exports and 21 pct for imports in yen terms
the united states and 12 other industrial nations granted argentina a 500 mln dlr bridge which was received this week
yeutter also said the canadian and israeli pacts should serve as important precedents for progress in gatt
those banks wishing to extend would receive another 25 basis point fee
michigan general in march had said that the exchange offer would be conditioned on 90 pct acceptance and on its lender waiving or providing relief from loan agreement defaults
rainfall totalled from five to 50 mm in corrientes five to 31 mm in san luis five to 30 mm in entre rios three to 20 mm in misiones 11 to 17 mm in formosa and one to eight mm in chaco
national westminster bank cuts base rate
over the next few weeks i think youll see a concerted effort by the saudis to get production down wellemeyer said
amstutz says farm trade accord possible in 1988
spain has five years to complete bank deregulation a process that began in 1978 when the government allowed foreign banks to open branches
central bank money stock was growing at an annualized 75 pct in february unchanged from the 75 pct in january
but he added as painful as the correction may be to our trading partners it is less painful than leaving the problem uncorrected because that would lead us into an inevitable lengthy and steep world recession roderick said between february 1985 and december 1986 the dollar fell by more than 40 pct in real terms against major industrial currencies and by 30 to 35 pct against a broader group of currencies of nearly all developing nations
rising imports of japanese made cars and electronic goods may upset west european officials but they generally seem prepared to stay on the sidelines in the latest trade row between the united states and japan
the change will also result in lower depreciation and amortization charges against income of about 52 us dlrs an ounce of gold produced in future periods based on total estimated reserves of 617000 ounces
terms were not disclosed
the supply problems are not new but are beginning to be felt by a market in which as peak winter demand tails off stocks usually build fast and availability increases traders said
the company also said the write off includes expenses associated with the acquisition of us medical enterprises inc and with the restructuring of certain partnerships
irving bank corp said it bought the factoring division of associates commercial corp a unit of gulf and western co incs associates corp of north america
snyder oil partners lp told the securities and exchange commission it made an exchange offer to cenergy corp that would allow snyder to acquire up to 499 pct of the companys common stock
saudi arabia allowed its output to sink as low as two mln bpd in august 1985 to compensate for slack demand and over production by some opec states
thailand exported 1120 tonnes of tin metal in february down from 1816 tonnes the previous month and 2140 tonnes a year ago the mineral resources department said
fcl originally launched a takeover bid for nzfp late last year with a scrip and or cash offer at 390 dlrs a share valuing the company at 13 billion dlrs
the european investment bank is planning a 300 mln guilder 625 pct bullet bond due 1995 lead manager amsterdam rotterdam bank nv said
charles bundrant president of trident before the merger was named president of the new company conagra said
mexico denies british banks balking at debt deal
seipp said that because about half the groups exposure to problem nations was in dollars the bank had swapped into dollars individual provisions hitherto held primarily in marks
bank of new england corp reported that pro forma first quarter earnings which reflect its combined operations under a pending merger with the conifer group rose to 60 mln dlrs or 89 cts a share from 49 mln dlrs or 75 cts a share in 1986
to a large extent these writeoffs of the carrying value of assets is really just the bookkeepers catching up to what the stock market has been telling us for a long time reflecting the collapse in oil prices peters and co ltd analyst wilf gobert said
this is the lowest rate of growth since the mid 1960s the report notes
sosnoff
conable said the bank must step in to help relieve the debt crisis which has prompted a number of us commercial banks to write off a portion of their third world loans
no official tender has been announced yet by tunisia they said
hepworth sells us unit to globe machine
a total of 14685 tonnes of british intervention feed wheat were sold at todays tender for the home market the home grown cereals authority said
peabody said the purchase includes seven underground mines and seven coal preparation plants currently operated by eastern as well as coal properties being mined by several contractors in west virginia
cross whose investor group includes his wife mary said they already hold 261650 harper and row common shares or 60 pct of the total outstanding common stock
allis chalmers restructuring plan would include the sale of its fluids handling and solid materials processing businesses s and p noted
jacor said the two stations are koa am and koaq fm
total world zinc production excluding eastern bloc countries fell to 390800 tonnes in february from 419900 revised from 419600 in january
wed rather place our bets with newmont
the consumer price index base 1981 was 1427 in february 1422 in january and 1378 in february 1986
sales of us stores in existence more than one year increased 10 pct
a us embassy assessment puts 1987 output at 145 mln tonnes against 135 mln in 1986 and 1208 mln in 1985
proceeds from the offering will be used for general corporate purposes including repayments of outstanding debt business acquisitions or investments american can said
we the banks wanted more money and they the south africans didnt want to pay the new agreement will extend for three years the standstill arrangement that has been in place since august 1985 and which was due to expire on june 30
the bank of canada will buy 100 mln dlrs of the new issue including a minimum of 10 mln dlrs of the 2011 maturity
the boards cash crisis has serious implications for the economy as a whole since coffee accounts for 95 pct of ugandas total exports
caribou energy reverse split approved
the worlds cocoa price at present is just not interesting commented one delegate representing a major cpa producer
in the heart of the corn belt you would not get that much participation collins said
comdata cdn gets merger financing
nj nicholas president and chief operating officer said soctt foresman will have over 200 mln dlrs in revenue in 1987
the sunflower harvest advanced to between 20 and 23 pct of total planted area versus 15 to 18 pct a week ago
d and k with assets of more than one billion dlrs is one of the leading us companies involved in the leasing of fleets of cars according to ge credit
the study showed that total grain use under the adequate certificate scenario would exceed the zero certificate scenario by 112 pct
nsa said the investment note will carry a face value of one dlr and will pay five annual principal installments as well as quarterly interest payments on the outstanding principal amount at an eight pct annual rate
officials from the meat export federation told that they do not expect a complete lifting of the quota but that they hope for at least a gradual increase in the quota
morgan guaranty ltd is the arranger for the program and the revolving credit and will act as one of the dealers for the commercial paper along with credit suisse first boston ltd
west german sugar statistician fo licht estimates european beet plantings this year at 722 mln hectares compared with a revised 1986 figure of 721 mln traders said
yeutters letter also said americans derive most of their saturated fats from meat and dairy products and relatively little from tropical oils
the current wheat reserve is 25 mln tonnes aziz said
there are difficulties among the banks to reach an agreement and find a unanimous decision marx told a local radio station in a telephone interview from new york
it said seven oaks direct management will own the remaining 20 pct
allied supermarkets asu files proposed merger
taiwans export orders fall in february
montedison concludes talks with antibioticos
petrobras sees raising export of fuel in 1987
say said proceeds from the sale would be used to increase the companys market share in automotive products packaging and diversify its packaging capabilities
full name is peter miller apparel group inc
belgium placing 100 mln swiss franc notes
taken together these changes should yield 60 mln stg in 1988 89 lawson said
kuwait increases stake in sime darby
coradian corp said a group led by privately held sage equities group agreed to buy a 76 pct interest in coradian
chrysler corp said electrospace systems inc agreed to be acquired under a merger agreement in which chrysler will tender 27 dlrs a share for 100 pct of the richardson texas based defense electronics contractor
danforth reaffirmed that westinghouse is interested in acquisitions saying the company is leaning toward acquisitions in the 300 mln to 500 mln dlr range
the workers affected produce the oldsmobile ciera and pontiac 6000 models a spokesman said
the us attack on irans oil platforms jeopardises our national sovereignty and we will retaliate properly for this perfidious american aggression mousavi told a news conference in damascus
it said the rights are exercisable if a group acquires 20 pct or more of its common stock or announces a tender offer for 30 pct or more of its shares
mulford gave no further details
the northeast of the country was also hit by heavy rains
asked how he would respond to the idea if it were brought up at any group of five meeting in washington later this week the paper quoted him as saying i will back it up but sumita said the market still has confidence in the dollar and one must be careful in associating the current dollar decline with anything like a free fall the paper said
the company said it has an option to acquire growers cold storage facility and related assets in tulare county calif
miti also urged makers to boost chip imports
us may drop tariffs if japan opens yeutter
the company said the agreement covers both theatrical and video distribution
fees comprise 1 1 4 pct selling concession and 5 8 pct management and underwriting combined
if analysts unofficial estimates prove correct then the drop in us corn acreage will be the largest since 1983 when farmers idled 22 mln acres in the payment in kind program
walsh at first marathon suggested however that the brazilian debt situation was so complex that it could drag on beyond one full fiscal year he said he foresaw having to lower his 1987 fiscal earnings forecasts for the banks
caseys general stores inc casy 3rd qtr jan 31
payment date is april 23 1987
egypt is expected to tender april 22 for 500000 tonnes of corn for may through september shipments private export sources said
that is 110 basis points more than the yield of comparable treasury securities
ocean transport and trading plc ottll year 1986
it based these forecasts due to the addition of schrader automotive inc and maremont corp both acquired last year
lazo said the stock split would reduce the par value of the companys common stock from 10 to five pesos
this is because the overall foreign exchange market is a triangle of dollar yen european currencies yen and dollar european currencies
recoton corp rcot 4th qtr loss
the weakness of the whole debt refinancing proposal is that even with approval of creditors there is no assurance that dome will in fact be able to repay all of its debt obligations said wilf gobert an oil analyst for peters and co ltd in calgary
mthly div 65 cts vs 65 cts prior pay april 30 reord april 15 note franklin california insured tax free income fund
this he said would further bolster national security in case of an oil supply disruption
the average effective rate for fixed mortgages was was 951 pct down 30 basis points from the early january level
correction macandrews and forbes holdings in new york story headlined macandrews and forbes holdings bids for revlon pls read in headline and first paragraph macandrews and forbes considers bid for revlon and in first paragraph macandrews and forbes holdings inc said it is considering making a proposal corrects from bids for revlon in headline and will offerin first paragraph
a leading us banker said the dollar was likely to fall another five to 10 pct this year and an improvement in the huge american trade deficit would be only temporary at current world exchange rate levels
an international monetary fund imf team is due here over the same period a world bank offical said
hence the depreciation of the dollar may well be going further than would be necessary to adjust the current account over the medium term koehler said
the loan is to help finance completion of yugoslavias north south motorway railway modernisation and export oriented industrial projects
he said he supported an early election only because it would clear the air
enel issues 15 billion yen eurobond
hilton hotels corp expects earnings per share for first quarter fiscal 1987 to march 31 to be about 90 cts compared with 70 cts a year earlier hilton hotels division president carl mottek said
dataproducts corp said it signed a letter of intent to acquire the imaging solutions inc unit of reliance electric co under undisclosed terms
but he added that texaco expected to meet with the venezuelans later today in an attempt to reestablish that key supply line
it also increases the dominance of the public sector at a time when the government is publicly urging private enterprise to take over the lead role in the economy
polaroid is working overtime on production of cameras and film so we expect first quarter earnings to be up about 40 pct ryan said estimating earnings of 70 cts a share in the first quarter compared to 52 cts a share earned a year earlier
however it decided to leave consideration of the release of further wheat until later
deutsche babcock to increase dividend in 1986 87
sahlen a private invetigation company said the gleason companies provide security guard services to corporations in the tri state area
grain trade representatives continued to speculate that the reagan administration will offer subsidized wheat to the soviet union while us agriculture department officials said there was no substance to the reports
full name of company is society for savings bancorp inc
maryland national mdnt sees new name
a total of 706470 tonnes of french sugar and 79000 tonnes of west german sugar has been accepted into intervention trade sources said here
the 4699 pct owned elders ixl ltd elxas offshoot announced the issue at 250 dlrs each with its first half results statement
treasury secretary james baker said that some of the trade bills proposed by congress conflict significantly with certain basic principles the reagan administration considers critical
in the meantime the company said it plans today to adjourn further its meeting of stockholders to june 30
murray said in the annual report issued today that the companys total 1987 capital expenditures would be lower than the three billion dlrs spent in 1986
cityquest has a fully paid share capital of one mln stg
tomorrow de zeeuw is to meet the house ways and means trade subcommittee and the senate finance committee before visiting agriculture secretary richard lyng
jawa held the post since his predecessor abdul hadi taher left in a major oil industry shake up last december
exports of goods and services rose 13 pct in the fourth quarter while imports rose only 29 pct statistics bureau figures show
glenn and warner said the us britain and france should explore the possibility of a unified gulf force
such a move would tend to flatten the yield curve between short and long term rates which has become more pronounced since the bundesbank lowered its discount rate
ich officials were unavailable for comment
azpurua said financing has also been obtained for expansion of alcasa another state aluminum company and for projects in the state steel and petrochemical industries
excel bancorp xcel sets initial dividend
british petroleum plc bp left propane unchanged at 110 dlrs and raised butane prices 550 dlrs to 123 dlrs shell a unit of royal dutch shell group rd st raised propane three dlrs to 113 and butane 550 dlrs to 123 dlrs they said
the seaway has said it expects little increase in freight levels this year from last year when it moved 376 mln tonnes of freight between montreal and lake ontario and 416 mln tonnes on the welland canal which links lake erie and lake ontario
seng pointed to japans beef quota system which limits total japanese beef imports to 177000 tonnes per year and us imports to 58400 tonnes as the major constraint in expanding us beef shipments to japan
the 10 year bonds issued at par will carry a four pct annual interest and will be convertible at 312 singapore dlrs per one dlr share in keppel
the spokesman would not comment on recurring speculation that the board might receive a higher offer from chrysler
the institute said inflation will see a rising trend in the course of 1987 but will average only 05 pct for the year as a whole because year on year rates will remain negative in the first part of 1987
moreover argentina is requesting only 195 billion dlrs in new loans compared with mexicos 77 billion and is paying 7 8 pct for most of the money instead of the 13 16 pct charged to mexico
china closes second round of offshore oil bids
italys net official reserves rose to 66172 billion lire in february 1987 from a previously reported 62174 billion in january the bank of italy said
analysts said they expected the bank to recommend a bonus issue this year probably one for three or one for five
an argentine mission is now in the us for talks with 11 banks seeking to win an easing of repayment terms and secure the loan
first wisconsin corp said it plans to acquire shelard bancshares inc for about 25 mln dlrs in cash its first acquisition of a minnesota based bank
lasmo exploration canada ltd a subsidiary of london amp scottish marine oil plc lsmll is merging with onyx petroleum exploration co ltd lasmo said
eagle entertainment inc said its subsidiary performance guarantees inc issued completion bonds for two films with a production value of five mln dlrs
oppenheimer and co analyst robert mcadoo raised his 1987 earnings estimate for nwa inc parent of northwest airlines following a strong quarterly report by the company yesterday according to oppenheimer market strategist michael metz
period end jan 31 shr loss 17 cts vs loss 26 cts net loss 765808 vs loss 1216501 revs 158 mln vs 187 mln six mths shr nil vs profit 54 cts net loss 125 mln vs profit 2538030 revs 325 mln vs 426 mln avg shrs 4310068 vs 4712315 note prior yr results restated to reflect change in value of aircraft resulting in increase of 232000 or five cts shr for six mths
an early renewal of inflationary pressures linked to monetary expansion exchange rate devaluation and an easing of price controls appears not improbable it added
frolov said the soviet union exported 500 mln dlrs worth of goods to the united states in 1986 and imported 15 billion dlrs worth
apart from the commercial branch in duesseldorf sumitomo has a rep office in frankfurt but both are primarily engaged in commercial banking
when the news came out they made session highs of 97 17 32 before slipping to 97 12 32
british land issues 30 mln stg convertible bond
the loan reference rate is based on longer term trends
the weekly tenders should respond to fluctuating demand by increasing or reducing the tonnage awarded czarnikow says suggesting that the commission might also take steps to cut down the amount of unnecessary bureaucracy surrounding the export tender system
qtly div 30 cts vs 30 cts prior pay april 20 record march 31
macneal schwendler corp mns 4th qtr jan 31 net
if their tests are positiive they are likely to buy more hofmeister said he could reduce the offer price of buffer stock rubber to stimulate interest but inro did not want to depress prices artificially
the liras fluctuation margin is currently significantly higher than that allowed for other ems currencies
we have never written off a loan he added
shr loss 34 cts vs loss 14 cts net loss 798000 vs loss 213000 revs 15 mln vs 15 mln year shr loss 61 cts vs loss 208 dlrs net loss 14 mln vs 10 mln revs 68 mln vs 60 mln note1986 net loss includes non recurring charges of 132000 dlrs and 270000 dlrs
the limited partnership will be offered outside the us allegis said
shr 74 cts vs 92 cts net 1300450 vs 1600258 note share adjusted for 10 pct stock dividend in july 1986
otter tail power co ottro sets dividend
mason hawkins and william reid who work for southeastern asset management inc said they bought their killearn stock with personal funds as an investment
zimbabwean coffee output will reach 13000 tonnes this year up on just over 11000 tonnes produced in 1986 the commercial coffee growers association said
bpcc is currently locked in legal battles resulting from its attempt to take over us publisher harcourt brace jovanovich inc hbj earlier this week bpcc launched a two for three rights issue to raise 640 mln stg and said the money raised would enable it to renew its assault on harcourt
to meet the daily average dealers said banks must raise holdings by two billion marks to 463 billion today and tomorrow
the borrower is a unit of lucas industries plc lucsl
of the three mark eurobonds launched on tuesday alone bonds for den danske bank and iceland were trading outside fees on friday although prices had recovered from initial lows
analysts said the national distillers spirits company which makes gilbeys gin and vodka old grandad and old crow whiskey is not quite the type of acquisition they envisioned
renouf extends benequity holdings bh offer
petro canada canadas state owned oil company said it will drill two delineation wells this summer at the terra nova oil field offshore newfoundland
talks show new canadian confidence group says
there are unquestionably other buyers out there added kidder peabody analyst adam f
investment bankers say the market currently stands at roughly 119 billion dlrs
longer term he added producer pressure will mount on brazil to agree to consumers export quota terms and a new international agreement could come into force next fall
the agency cited two recent tender offers in which waivers of a minimum share conditios were tried on the last day of each offer denying shareholders the chance to react to the new information
the bank earlier reported profit for the first quarter ended january 31 fell to 114 mln dlrs from 140 mln dlrs a year ago
general partners controlled by privately held wagner and brown and by afg industries inc said it has started a tender offer for all common shares of gencorp inc and associated defensive preferred share purchase rights for 100 dlrs a share
the sec is also considering expanding futures trading of additional countries government securities to be marketed and traded in the united states the officials said
indonesia is unlikely to import copra from the philippines in 1987 after importing 30000 tonnes in 1986 the us embassys annual agriculture report said
he added he would not rule out central banks of leading industrial countries intervening on exchange markets to defend the dollars value
olson industries olsn to sell egg operations
subroto said indonesia needed the companies to maintain exploration efforts even if their contract was due to expire within 10 years
repap enterprises corp inc 4th qtr net
the exchange will now submit the contract to the commodity futures trading commission according to the spokeswoman
the chemical partnership will also give texas commerce an edge in developing new consumer products he said
the following proposed securities offerings were filed recently with the securities and exchange commission allied supermarkets inc asu offering of 140 mln dlrs of senior subordinated discount debentures due 1999 and 100 mln dlrs of subordinated debentures due 2001 through drexel burnham lambert inc and donaldson lufkin and jenrette securities corp
he estimated the amount of bags registered by the national coffee growers federation at about the same meaning a total of about 900000 bags registered and sold per month by colombia
when repayment finally occurs it is not in cash like an ordinary zero coupon bond
in february m 2 was 182 billion dlrs below its upper limit and m 3 was 208 billion beneath
avnet inc said it filed with the securities and exchange commission a registration statement covering a 150 mln dlr issue of convertible subordinated debentures due 2012
level vi covers wheat entered after january 19 1984
payment date is march 30
also the higher live cattle prices have been encouraging early movement of cattle from wheat pasture onto feedlots ginn said
programmes had to be developed which would strengthen the economic position of these countries to ensure world economic growth so they are able to sell their products at adequate prices
any change in the basic voting structure would require a change in the iadbs charter and in turn a lengthy process of prior approval by the congresses of each country petricioli said
but officials at bank of tokyo said the spread is intended to compensate for the lack of liquidity and for the uncertainty currently associated with owning dollar securities
individual segments in many countries may lose in the process but it should result in a more rational system of world wide production within 10 or 15 years he said
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
but there are doubts about how well the baker initiative has worked and about the world banks success at bringing about increased growth in the third world under the us prescription which indicated that countries might grow their way out of their difficulty
precipitation during the present campaign has been lowest in northern savannah regions where the cotton crop has especially benefitted from the dry weather fraternite matin said
the scrip offer values cheetham at about 110 mln dlrs based on acmexs current price of 720 dlrs and the cash offer at about 104 mln
sarney temporarily legalises dlr parallel market
ball began supplying blanks to the san francisco and west point mints in 1981 when the pennys content was changed to zinc from copper
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
very strong demand from all markets including recently japan has resulted in perus bismuth exports showing an impressive increase in january may 1987 perus state owned mining industrys marketing arm minpeco sa said
thailands major tin exporter and producer thailand smelting and refining co thaisarco said it may be unable to meet all its overseas orders because of insufficient supplies of tin concentrates from thai mines
on line software international inc is raising 40 mln dlrs through an offering of convertible subordinated debentures due 2002 with a 6 1 4 pct coupon and par pricing said lead manager drexel burnham lambert inc
as with the proceeds from the earlier limited partnership the money will be used for general corporate needs the spokesman said
shr 28 cts vs nil net 4568000 vs 7000 revs 375 mln vs 7835000 year shr 13 cts vs nil net 5011000 vs 30000 revs 1455 mln vs 510 mln note current year results includes revs of 872 mln dlrs from chocolate co inc which was acquired in march 1986
but the head of the socialist cfdt union federation edmond maire meeting with chirac today renewed union demands already rejected by the government for indexation clauses to be built into future pay contracts to safeguard workers against higher prices
gros denies court action against brazil
union bank raises its prime rate to 75 pct
general systems research inc said it concluded a 15 mln dlr private placement with the government of alberta
genetics geni wellcome name site for venture
the company is making an announcement at this time in response to analysts fourth quarter revenues and earnings per share estimates of 29 mln to 32 mln and 24 cts to 30 cts respecivtely said raymond meyo president and chief executive officer
prior year net both periods includes pretax gain 1095000 dlrs on pension plan termination
the bond would be priced at 9975 to yield 4736 pct compared with 9950 and 5075 pct in march and proposed issue volume is 1400 billion yen against 475 billion it said
equatorial said the fourth quarter operating results will also include restructuring costs of about 5500000 dlrs in addition to the 45 mln dlr charge
general acquisition requested it be given a chance to bid on a competitive and fair basis before any final decision was made on any other buyout proposal
griggs said that m 2 and m 3 in coming months should return to the five to seven pct annualized growth region and so continue to present no problem for the fed
albani will continue as chief operating officer said an allegheny spokesman
french maize producers will ask the ec commission to grant permanent maize export rebates following the recent ec us accord guaranteeing the us an annual export quota of two mln tonnes of maize for spain over four years the french maize producers association agpm said
were short and were buying he said
scott instruments corp scti year loss
oecd consumer prices rise in february
fuso finance co ltd in osaka is owned 50 pct by sumitomo with the rest equally shared by two small sumitomo metal subsidiaries
in a filing with the securities and exchange commission sosnoff a new york investor and money manager said the offers to buy back his stock occurred on several occasions during the past year the offers were made by several caesars world representatives including its chairman henry gluck he said
key wheat growing areas of the southern ukraine and north caucasus received on 25 35 pct of autumn precipitation she said
paul e
the new auction system is designed to be more restrictive than the previous one suspended in january after the central bank fell 10 weeks in arrears to successful bidders
shr 43 cts vs 63 cts net 16362000 vs 24325000 revs 5893 mln vs 5491 mln nine mths shr 140 dlrs vs 173 dlrs net 54011000 66591000 revs 168 158 billion
turkeys standoff with greece over aegean oil rights appeared at an end after the government said it had been assured athens would not start prospecting in disputed waters
the selling concession is 1 1 4 pct while management and pays 1 4 pct and underwriting 3 8 pct
oil prices the debt crisis the world recession all call for major policy adjustments and external support conable said in his arrival statement
the official said ivory coast continued to support the new pact which was agreed in principle last year by most of the worlds cocoa exporters and consumers
skylark co ltd sklkt 1986 year
a group of canadian lawmakers from ontario today asked their us counterparts to exempt canada from the mandatory trade retaliation provisions in a major trade bill being considered by the us congress
borden inc said it is acquiring prince co inc and three companies producing grocery products for 180 mln dlrs
total capital acquires dunhill compact
goldman last year sold a 125 pct stake to sumitomo bank in exchange for a 500 mln dlr capital infusion
s p rates nomura international plc bonds aaa
avana shares traded at 800p after the announcement 32p up from last nights close of 768p
it added that it extended its offer to may 11 at a fixed price of 16536 dlrs a share
union pacific says will sign pact in caracas on march 17 for sale of half its corpus christi refinery
it also said it has delayed its annual meeting until may due to the restatement of annual earnings
ultimately the brazilians are going to have to pay up on all the interest they owe cohn said
blue gass breeders blgr completes acquisition
they have informed me that they like our company and purchased the stock last year for investment purposes santa fe chairman john schmidt said in a statement
houston oil trust ho omits march distribution
mercantile stores mst march sales up 05 pct
qtly div 75 cts vs 75 cts prior pay may 19 record april 24
representatives of the major government agencies agreed at a trade policy review group meeting which includes officials of the deputy secretary rank to continue diplomatic pressure on ec member states
reagan says us committed to louvre accord
soybean harvesting is due to start in mid april in southern cordoba and santa fe and northern buenos aires
shr a 1389 hk cents vs 974 adjusted shr b 278 cents vs 195 final div a 44 cents vs 323 making 62 vs 47 adjusted final div b 88 cents vs 65 making 124 vs 94 net 178 billion dlrs vs 123 billion turnover 166 billion vs 137 billion note net profits excluded extraordinary gains of 138 billion dlrs vs 591 mln
the borrower also will have the option to issue certificates in other available currencies including sterling
treasurys baker says throwing money at debtor nations wont work
the terms represent an improvement over those obtained last year when barbados tapped the market for a 25 mln dlr transferable loan facility which carried the same maturity but had interest at 1 1 4 pct over libor
comdata network inc said it has entered into a letter of intent with a limited partnership managed by welsh carson anderson and stowe wcas to merge comdata into a corproration to be formed by wcas
major tin centers paralysed bolivia union says
the officials and scientists were meeting in tokyo ahead of an international conference on the problem later this month in either vienna or geneva long said
shr loss 192 dlrs vs profit five cts net loss 56 mln vs profit 136598 revs 14 mln vs
texas international tei completes reserve sale
japans ailing shipyards have won approval from the fair trade commission to form a cartel to slash production to about half of total capacity for one year effective april 1 industry sources said
cyacq corp said it extended its 80 dlr a share tender offer for cyclops corp to march 20 from today
i dont think it fits the philosophy of an internationalising market he added
phoenix did not disclose the indentity of the investors
supreme equipment systems corp seqp 2nd qtr
robinson
the buffer stock will begin operations immediately he said
the closure of the haitian american sugar company hasco will idle 3500 employees and affect as many as 30000 to 40000 small sugar cane planters in regions around the capital the company said
dome does not consider transcanadas proposal a formal offer because the pipeline utilitys announcement breached a confidential agreement between the two companies he said
payment of 310 dlrs and delivery of two warrants will entitle the shareholder to one additional share of the merged company the companies said
tokyo is also eager to avoid any suggestion that a further yen rise might be needed to cut its trade surplus which last year amounted to a record 93 billion dlrs
santa fe southern pacific corp may have more difficulty combining its two railroads than fending off a possible takeover by henley group heng which has accumulated almost a five pct stake in the real estate and railroad conglomerate analysts said
in these circumstances the buffer stock may only need to buy between 20000 and 30000 tonnes to lift prices above the must buy level
shearson contributed 316 mln dlrs of american express 125 billion dlr net in 1986
societe generale reports higher 1986 profits
shr loss 10 cts vs loss 50 cts net loss 1830000 vs loss 3584000 revs 407 mln vs 268 mln avg shrs 192 mln vs 7115847 12 mths shr profit 10 cts vs loss 91 cts net profit 1422000 vs loss 6195000 revs 1857 mln vs 1269 mln avg shrs 148 mln vs 6811280 notes in may 1986 prospect raised 1018100000 dlrs from an initial public offering of common stock
the china international trust and investment corp citic will issue a 30 billion yen 10 year bond on april 23 daiwa securities said as lead manager
the bank said in a statement it will offer 30 mln dlrs of 56 day treasury bills and 50 mln dlrs of 77 day bills
prior year net includes tax credits of 2132000 dlrs in quarter and 3039000 dlres in half
vieille montagne which is actively pursuing a restructuring program reported a 198 mln franc net loss after 187 mln francs in provisions for the closure of an electrolysis plant compared with a 250 mln franc net profit in 1985
it also said it may buy additional shares or sell some or all of its current stake
there is no way out but to raise the subsidy levels of meal
businessland busl completes offering
mhi group inc said it is affiliated with several investors who have entered into a letter of intent providing for the purchase of star of david memorial gardens and cemetery
komatsu is also willing to be patient about possible routes into the securities business at home
when asked to comment on a recent study by the general accounting office that concluded certificates result in a net cost to the government amstutz said gao underestimated the benefits and overstated the costs of the certificate program
shr 23 cts vs 23 cts net 319 mln vs 157 mln revs 8769 mln vs 4012 mln avg shrs 1401 mln vs 686 mln nine mths shr 53 cts vs 42 cts net 740 mln vs 289 mln revs 255 billion vs 117 billion avg shrs 1401 mln vs 686 mln note results include acquired bottling companies from dates of acquisition
he said bass pushed for sale of the independent television stations because the company paid too much
it said about 50 mln pounds of poy production will be shut down as a result of its exit from the business
tokyo already faces a deadline of april 17 from washington for the imposition of 300 mln dlrs worth of tariffs on chips it imports into the us the ec executive commission said today the european electrical component manufacturers association complained that japanese firms were selling high capacity eprom type erasable programmable read only memory chips at unfairly low prices
these two cases have raised hopes that other companies will also reach agreement soon
first financial said it would not pursue the offer if comdatas board rejected it
continental health cthl purchases marketech
imports of gas from canada are limited by pipeline capacity and importing liquefied natural gas on ships will not be feasible in the next 10 years because of the cost only about 6 trillion cubic feet of additional gas reserves were discovered last year while us consumption approached 16 trillion cubic feet according to industry estimates
rubber producer and consumer countries meet for 12 days in geneva from tomorrow to try to hammer out a rubber pact after they failed to reach agreement last november to replace the current accord which expires next october
jim walter jwc busy owens corning ocf plant
the central bank also announced the auctions would be fortnightly not weekly beginning on april 2
the dollar hovered around 14470 just before midday
tender loving care said it will have the power to vote about 158 pct of staff builders shares at the adjourned meeting with a spokesman explaining that this represents the proxies held by norrell which started buying the stock after the record date for the meeting
combined with overall good prospects for the uk economy this was likely to fuel a foreign rush on sterling denominated assets pushing the pounds value well above unofficial targets
one three and six month deposits were quoted unchanged at 6 5 8 3 8 7 1 8 6 7 8 and 7 3 8 1 8 pct respectively
gencorp said these proposals could distract energy and attention from the real task at hand to respond to the tender offer in a manner which is in the best interests of the company its shareholders and its other constituencies gencorp said the proposal to increase its outstanding shares was made with the aim of declaring a stock split and a dividend increase
pechiney pukgpa signs soviet packaging accords
mulford stessed that greater flexibility in devising new money packages may be essential for future bank syndications
cavaco silvas minority social democratic party psd was toppled in a parliamentary censure vote by left wing parties
they added that the move which sparked a record single day plunge of the local stock market would limit their ability to lend foreign exchange to importers and exporters
first the national treasury should be in sound shape when dealing with the public and other countries so that its credibility is preserved he said in a television interview saturday
sci med life systems inc said its directors approved a previously proposed agreement of merger with bristol myers co
schilling lending had grown last year and interest rate margins had also improved but remained unsatisfactory when compared with those in other countries he said
the left wing parties favour a parliamentary solution but the psd said it wants an early election in which opinion polls say they could win an overall majority
in terms of the economy 37 38 billion dlrs is infinitesimal so cuts of this magnitude will have little impact on the economy and the trade deficit said stanley collander a touche ross federal budget policy analyst
the auction will comprise 35 billion francs of 13 week bills 35 billion francs of 26 week bills and 35 billion francs of 52 week bills all fixed rate
michael seibel bank of america vice president and regional manager said the negotiations were proceeding well
terms were not disclosed
husky hyo sets meeting to approve merger
while exports have been delayed by the strike exporters say the problems have been manageable
yesterday tamuras ministry of international trade and industry miti launched a last ditch attempt to salvage the pact by writing letters to us policy makers setting out japans case and telling japanese chip makers to cut output
according to its more recent amendment to its schedule 13d industrial equity owned about 1917 pct of calmats stock at october 14 calmat said
venezuela moves closer to champlin purchase
leader said the stock is convertible into a petrosurance common
our equity managers have taken a slightly heavier cash position in equity portfolios lately collins said
united asset uam completes acquisition
its exports are expected to total 50 billion and imports 30 billion against exports of 3979 billion and imports of 2417 billion last year
one lobbyist with close connections to the reagan administration said a soviet trade team told private grain trade officials in new york last week that moscow would buy as much as four mln tonnes of us wheat much of it before mid year if it was competitively priced alexander ivlev an official with amtorg a soviet trading organization told he had no information to substantiate the rumors of an imminent wheat subsidy offer but said that moscow would consider buying us wheat if it was competitively priced
chiles gross domestic product rose 57 pct last year to 188 billion dollars compared to a 24 pct rise in the previous year the central bank said
pending government approval of the scheme the field could come on stream in 1992 making it norways northermost field development and the first such project on the haltenbanken tract off central norway
amsouth corp said the federal reserve board approved the affiliation of first tuskaloosa corp with amsouth
the ico executive board will meet march 31 but the full council is not due to meet again until september delegates said
the issue carries a call option from 1993 at 102 pct declining thereafter by 1 2 percentage point per year
yeutter stresses importance of trade talks
murphy raises crude oil postings 50 cts a bbl yesterday wti to 19 dlrs
the commodity futures trading commission approved the rule change in february according to a cftc spokeswoman
national self a developer of storage space for business records said the purchase includes nine storage facilties
in his annual state of the nation speech lusinchi also said venezuela supports other latin american debtors despite having reached a rescheduling accord on its own
entertainment marketing a houston based firm involved in electronics wholesaling and televised home shopping sales proposed an eight dlr a share merger acquisition of crazy eddie on may 29 and modified the proposal on june 9 to include the possible participation of crazy eddie management
it would be naive to suggest that any agreement would not have some share of connivance but i think the voluntary system seemed to suffice and coupled with the fact that we have so much coffee i dont think that it poses that much of a threat one trader said
the proceeds will be used for investment purposes the company said
swedens rate of inflation during january has been revised downwards after a fault was made in calculating the figures the central bureau of statistics said
the conversion price has been set at 1004 yen a 393 pct premium over todays 966 yen close
the letter said the government had to step in to avert serious economic hardship and because the social services ministry had already used up its entire 1987 budget provision of 23 mln rupees by distributing help to the worst hit areas
there is already evidence that the water level is dropping and it appears the rain has stopped in the area affecting the pipeline stevens said
us sprint the 50 50 telephone venture of gte corp gte and united telecommunications inc ut set up last june is optimistic despite expecting to report a net loss of about 500 mln dlrs this year
they declined to disclose details of the talks
merrill lynch capital markets co managed the deal
preparatory work for construction of a 450 mln dlr alumina plant near the village of aghia efthymia in the greek province of fokida will begin at the end of next month and the plant will be operational by 1992 industry undersecretary george petsos said
the merger involves the formation of a new company astral pacific corp ltd which will acquire all shares in both companies on a one for one share exchange basis
the european monetary system is not only a relationship between the guilder and the mark
however as showers fell intermittently after last weekend producers feared another spell of prolonged and intense rain could cause more damage to crops already badly hit this season
the new york firm will be known as deak international trading ltd the company said
storage problems with brazils record grain crop are likely to result in losses of about five mln tonnes an agriculture ministry spokesman said
brown boveri omits dividend plans warrant bond
it did not disclose financial terms but szynkarsky said the two acquisitions totalled about 90 mln canadian dlrs and the two business have combined yearly revenues of 170 mln dlrs
copper cobalt and other mineral exports account for 95 to 98 pct of zambias foreign exchange earnings and president kenneth kaunda told in a recent interview it was vital for his country to assure new outlets for them avoiding the traditional route through south africa
french cereal exports through the port of rouen fell 64 pct to 725023 tonnes during the period february 1 to 25 from 774704 for the period february 1 to 26 last year trade sources said
new industry orders fell 19 pct after they had been unchanged in december
in the year to end september rogers operating income was more than 10 mln dlrs
the company said it charged that former jwt group unit executive john peters has breached his fiduciary duty by disclosing confidential information about the company and its clients
saudi arabian oil minister hisham nazer said opecs december agreement to stabilise oil prices at 18 dlrs a barrel was being implemented satisfactorily and there was no immediate need to change it
yesterday spot may sugar closed at 718 cents a pound
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
at that time the board will evaluate all the then existing offers for becor it added
pacific resources pri installs oil mooring
allegheny international inc said it has sold its chemetron railway products inc true temper railway appliances inc and allegheny axle co units to newly formed chemetron railway products inc for undisclosed terms
but net is before net extraordinary loss 1405 mln vs nil
the figures cover around 95 pct of rotterdam traffic in the products concerned
but both data are likely to be worse than those recorded in 1986 it added
producers meanwhile say non member cocoa should make up at most a very small percentage of the buffer
fed data suggest stable us monetary policy
but we are also frustrated the official said the 40 pct rise of the yen over the last 18 months has hit japan hard forcing exporters to slash spending and lay off workers to make up for lost sales abroad
we pointed out to them that in the last two years brazil paid 24 billion dlrs just in interest rates while only receiving two billion dlrs in new loans over a similar period gros reiterated that brazil will not accept interference from the international monetary fund imf as creditors suggested
takahashi said the economy might contract in the current quarter given the lack of additional significant government spending and sluggish consumer spending
negotiators at a united nations conference on a new international natural rubber agreement inra have agreed on basic elements in a new pact conference chairman manaspas xuto said
the company said in a statement that immediately following the acquisition of the motor group its car and commercial vehicle contract hire fleet of some 3000 vehicles was sold to lex vehicle leasing ltd for 143 mln stg in cash a sum equal to the net book value of the vehicles transferred
sico sicto to buy reichold rci unit assets
sharon steel extend exchange offers
in the event an acquisition goes through solar systems interest in europharmaceutical would be diluted below its current 45 pct
revs for qtr include capital gains of 3049564 vs 2010972 and for year of 9841204 vs 5798995
listing will be in frankfurt
dayton hudson dh not interested in acquisition
some observors said the demise of illinois cooperative futures co
the company also said it intersected another vein 90 feet west of zone two which assayed 0531 ounces of gold a ton across a width of 387 feet
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
investment advisors have 10 pct of killearn kpi 
gateway medical systems inc said it has withdrawn its may 27 offer to acquire westworld community healthcare inc the company said it remains interested in acquiring the westworlds hospitals and will attempt to continue negotiations with westworld
rafsanjani in an interview reported by the iranian news agency irna also commented on earlier us disclosures that iran had erected sites for new chinese made silkworm anti shipping missiles at the strait of hormuz
speaking at the same news conference de kock said the three year length of the agreement was of enormous significance to south africa
in volume terms gold holdings rose to 551 mln ounces in march from 526 mln ounces in february valued at 75724 rand an ounce for march versus 75459 rand an ounce for february
industrial countries do not agree on ways to provide debt relief for the worlds poorest nations a senior us treasury official said
we must encourage research now in order to make synfuels competitive later hall said
campeau cmpt unit to sell garfinckels
the canam manac group inc said its canam steel works unit received a contract valued at 85 mln dlrs to supply steel trusses to canron inc for a new car plant in ingersoll ontario
cereal crops in the southwest were 90 pct germinated with some fields already in the subsequent tillering stage it said
previously march and may were unlimited
japan has withdrawn its objection and decided to accept the release of the study the agriculture ministry officials said
under terms of the transaction which would result in a 13 billion dlr thrift institution stockholders of jefferson will get 3050 dlrs per share half in cash and half in shares of charter
ual inc offering 55 mln shares of common stock at 5650 dlrs per share
it said it ultimately will collect most of those accounts
m 1 money supply fell 87 pct to 77678 billion won in march against a revised rise of 43 pct in february
current management of the division will remain
shr 38 cts vs not given net 8616000 vs not given revs 2091 mln vs 1698 mln nine mths shr 176 dlrs vs not given net 345 mln vs not given revs 6320 mln vs 5515 mln note year ago per share and net income not available as company recapitalized on december 28 1986 after it became a new reporting entity for financial reporting purposes
luckey said the banks total operating profits rose nearly 29 pct in 1986
1986 4th qtr and year excludes a gain of 995000 dlrs and 2928000 dlrs respectively for tax credits
the uk oil marketing and refining industry will need to invest larger sums probably around 500 mln stg a year for a good many years he said in a statement
shr 72 cts vs 57 cts net 45 mln vs 36 mln revs 251 mln vs 219 mln year shr 247 dlrs vs 187 dlr net 156 mln vs 118 mln revs 891 mln vs 733 mln
moodys said it believes the acquisition will be carried out substantially as currently structured
premier industrial corp pre regular dividend
but he added i do not think it will be a big issue because there will be a big debate inside europe adding so there will be a compromise us trade representative clayton yeutter said yesterday that if the community went ahead with the tax the united states would respond vigorously to protect its trade rights and access to community markets
somehow it has been the perception of developing countries that gatt is a club of rich countries he added in an interview with 
although prices have risen to around eight from five us cents per lb in the past six months they are still below the regions nine to ten cents per lb average production cost
at the other end of the scale captains earn 7993 cruzados a month basic pay which is brought up to 15229 cruzados with allowances
exports in february were 638 billion markka and imports 574 billion compared with exports of 672 billion and imports of 664 billion in january and exports of 692 billion and imports of 631 billion in february last year
those changes would achieve a portion of the 125 billion but not enough they said
this was one of the strengths of west german exports compared with japan which depended in large part on the us opec and developing country markets it added
the loans have to be treated as non performing after 90 days without a payment
a year earlier it earned 7300000 dlrs after a 120000 dlr loss from discontinued operations on sales of 854 mln dlrs
mtech corp said it filed with the securities and exchange commission a registration statement covering a 75 mln dlr issue of convertible subordinated debentures due 2012
other analysts including michelle galanter applebaum of salomon brothers inc recommend usx
cpc officials also said the company agreed with the egyptian government for the supply of 240000 tonnes of gulf of suez crude for delivery in two shipments this year at the government selling price
the industrial bank of japan ltd ibj london branch said it is establishing a sterling certificate of deposit cd issuance programme for up to 200 mln stg
growth this year should be at least one pct he said describing the downturn in production in the first months as a false start unrepresentative of the rest of the year
all counties in iowa will be affected as will counties which use the gulf to price corn in illinois indiana tennessee kentucky missouri mississippi arkansas alabama and louisiana said ron burgess deputy director of commodity operations division for the usda
the sources said arrivals from may through july might only reach around 600000 bags whereas in normal years a figure of 10 mln to 15 mln bags might be expected
anz banking group says it will cut prime rate to 1600 pct from 1650 on june 22
the monthly rise in the all items index base 1980 was 109 pct to 2510 in february after a 14 pct increase to 2483 in january
the administration has proposed cutting the fill rate from 75000 barrels of oil per day to 35000 bpd in fiscal year 1988 to save money
ford which outstripped gm in earnings last year said its 1986 incentive bonuses totaled 167 mln dlrs slightly behind general motors 1691 mln
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
us monetary sources also said washington wanted it understood by markets the sevens commitments were genuine
inspectorate requires funding to finance its purchase of a 51 pct stake in harpener ag a diversified west german group and other recent acquisitions
the borrower is an affiliate of west germanys hessische landesbank girozentral
shr profit three cts vs profit nine cts net profit 102136 vs profit 307516 revs 8549182 vs 8469476 nine mths shr loss 13 cts vs profit 28 cts net loss 458823 vs profit 1014969 revs 255 mln vs 246 mln
book value at the time will determine the moves pricing honeywell said
at the same time the decline in exports to oil producing countries looks set to slow this year
zimbabwean officials were not immediately available for comment
as to whether it will be done in the future it will be done according to the evolution of the situation he said many people including foreign businessmen had raised objections to the plan to abolish the certificates and added it is rather complicated the fecs were introduced in 1980 for use by foreigners in china
dealers said the communique early in the european morning from the g 7 meeting contained no significant new factors and although the dollar dipped it generally resisted further attempts to push it lower through the day
gm gm dealers order 125000 new chevrolets
forest oil corp foil 4th qtr
the plant can slaughter and process about 13000 to 14000 hogs a day he estimated
iron output is planned to grow at eight pct a year reaching 45 mln tonnes at the end of the decade
the banks share in the syndicate will be cut to 738 pct from 74 pct from april
uk clearing bank lending rises 16 billion stg
computer memories inc cmin 3rd qtr loss
fidelity international ltd a bermuda based investment advisory firm and an affiliated investment firm american values iii nv said they have acquired 208000 share of blasius industries inc
nordic investment bank is issuing a 300 mln danish crown bond due april 15 1994 priced at par with an 11 1 4 pct coupon lead manager enskilda securities said
it also has interests in a number of gas or oil pipelines
mario gabelli head of new york investment firm mario gabelli and co said he sold some shares of gencorp inc gy as part of a portfolio rebalancing process to meet the needs of his more than 600 clients
foreign investors took the lions share of trade last week but dealers noted considerable switching by domestic investors as the yield differential between mark and guilder issues enticed arbitrage activity
lawson said he would seek to consolidate political backing for the plan at the venice summit and hoped the programme would be finalised at the autumn meetings of the imf and world bank
iran has test fired its newly acquired silkworm anti shipping missile in the strait of hormuz and has set up at least two land based launching sites in the area a british naval source in the gulf said
ec farm minsters are due to resume negotiations on the package which should have been agreed by an april 1 deadline tomorrow
liffe february volumes down but eurodollars up
similar campaigns are needed in egypt yemen iraq and iran
the justice department told the transportation department it supported a request by usair group that the dot dismiss an application by trans world airlines inc for approval to take control of usair
year ago results restated to reflect reclassification of coal mining and marketing segment as ongoing operation rather than discontinued operation
although data during the week was mildly positive for bond prices the small rise in february producer prices and downward revisions in january retail sales and industrial production were not real exciting said prudential bache analyst fred leiner
european community finance ministers and central bankers meet in belgium this weekend to discuss strengthening europes joint currency float amid continuing worries about turbulence on foreign exchanges
energy secretary john herrington told congress that a federally chartered corporation would be the best way to manage and operate the governments uranium enrichment program
a general improvement in air traffic last year contributed to cathays revenue increase but the companys load factor declined because of increased competition and an expansion of its fleet and services
dutch bank f
twa last week said it owned 15 pct of usairs shares
it has been a number of years since m 1 has given good signs of whats going on in the economy one said
the record 49 billion dlrs rise in uk reserves in may to a total 347 billion has lifted hopes for a further cut in bank base lending rates after the june 11 general election market analysts said
fruehauf posts 203 mln dlr 1986 loss
some water is also in the no5 hold
teck hocks nine creditor banks have agreed to extend the companys loan repayment period for 10 years although a percentage of the new capital injection will be used to pay off part of the debt
qintex said it is extending the offer to allow princeville to comply with federal law restricting the ownership of us airlines by non us citizens and to finalize the terms and conditions of the letter of credit or bank guarantee required under the previously announced acquisition agreement
shr profit 27 cts vs profit 51 cts net profit 6600000 vs profit 122 mln revs 2117 mln vs 1934 mln qtly div 245 cts vs 245 cts avg shrs 242 mln vs 238 mln year shr loss 17 cts vs profit 127 dlrs net loss 4077000 vs profit 301 mln revs 7535 mln vs 6734 mln avg shrs 244 mln vs 237 mln note qtly div payable april six to holders of record march 16
unusually low prices prevailing since early 1986 had stimulated demand for both food and non food purposes it said
renewed optimism this year stems largely from the accord reached by opec last december to curb oil output and boost prices to a benchmark level of 18 dlrs per barrel
trading would resume again on monday
the department noted the latest figures were similar to the average in the fourth quarter last year but well above the january index which was depressed by the effects of severe weather
an ankara radio report monitored in london said foreign minister vahit halefolu had called on greece to engage in dialogue over the dispute
the redemption rate will be calculated according to a complex formula tied to the spot yen dlr currency rate yamaichi said
without spot supplies the high cost of system gas will threaten to drive away large customers capable of shifting to alternative fuels he said
the report concluded that there is a strong possibility official opec prices will rise to 20 dlrs a barrel by end 1987 and 22 dlrs a barrel by end 1988
nippon columbia co ltd ncolt will make a one for 20 bonus stock issue on july 14 to pay back remaining premiums accumulated by 45 mln shares issued at market price through public placement in september 1980 a spokesman said
traders said that as a whole the trade side was against re introduction of ico quotas while roasters were generally in favour with the single proviso that there had to be some formula basis for re allocating quota shares among producing countries
american debtors still talking
usda proposes name changes in beef grade
jardine matheson said it sets two for five bonus issue replacing b shares
citibank said its reduction reflected the decline
a bank may decline to issue a bond on the requested day in the calendar but then has to wait for the next calendar period to schedule the bond again
toshibas timing is most extraordinary one official at the department of trade and industry dti said
hechinger hecha sells convertible debentures
ec inflation starts to rise again in february
noranda raises primary aluminum prices
following completion oil term holdings ltd a new company controlled by nova will hold a 43 pct stake in husky
hitachi ltds hitt april output of 256k drams will fall by 2593 pct to four mln compared to 54 mln in march
angus said the recent purchase of chesebrough ponds inc cbmn for 7250 dlrs a share was unlikely to bring any earnings dilution
basf said that work this year had begun in geismar louisiana on plants for production of special amines and polytetrahydrofuran as well as for expansion of capacity for producing tetrahydrofuran
brazils coffee exports could amount to 19 mln bags this year because of the excellent crop estimate of 352 mln bags an ibc spokesman said
his disclosure of two of the key targets for sterling was highly unusual foreign exchange market analysts said
trotter treadmills makes motorized treadmills for the exercise enthusiast and fitness club market
in conjunction with the sale of assets mki has ceased brokering treasury bills notes and bonds fundamental said
two months ago the mark and the dutch guilder were revalued by three pct and the belgian and luxembourg francs by two pct against other currencies in the system the french franc italian lira the irish punt and danish crown
the limit governs total borrowing by the fund from the governments general revenue account and various funds as well as borrowing by the fund arising from money market operations
it also has tax credits worth about 25 billion dlrs
8 proposed a series of guidelines for calculating the risk of other off balance sheet activities that banks would be required to take into account in calculating the minimum financial cushion they would need to maintain
german feb sugar stocks up in year down in month
commercial banks quoted the spot riyal at 37500 04 to the dollar after 37507 09 yesterday
the group also said in a filing with the securities and exchange commission that its members would not without morse approval buy or offer to buy any company securities giving the group a 10 pct or more stake in the company
first american bank and trust co said its 88 pct owned associated mortgage investors amims subsidiary has sold its new england operations for about 2100000 dlrs in cash and 1300000 dlrs in stock resulting in a first quarter gain for first american of about 1200000 dlrs after tax
a last minute attempt by colombia the second largest exporter to rescue the talks with a compromise interim proposal could not bring the two sides together
dutch sugar trade deny involvement in offer
telecommunications network tniio year net
thai trade deficit widens in first quarter
he gave no other details
swedish unemployment was steady at 22 pct of the workforce in march compared with the previous month the central bureau of statistics said
until recently federal issues sold very strongly abroad with up to 90 pct of some being placed with foreign investors
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
weatherford said this will be the sixth non payment of the dividend on the stock
bell resources ltd said it has executed an underwriting agreement with equiticorp tasman ltd to acquire 576 mln ordinary shares in the broken hill pty co ltd brkns for 540 mln dlrs
natural gas stands a good chance to recapture the share of oil supplied to electric utilities that it lost to the residual fuel industry last year michael smolinski an energy economist with data resources inc told 
texstyrene corp said it has suspended quarterly cash dividend payments on its 95 pct convertible exchangeable preferred stock
oper shr loss 48 cts vs profit 50 cts oper net loss 113 mln vs profit 181 mln revs 2628 mln vs 3997 mln note 1986 net excludes tax gain of 11 mln dlrs or three cts shr vs yr ago gain of 56 mln dlrs or 17 cts shr
funaro is currently on a european trip seeking to involve governments in negotiations with commercial banks on rescheduling part of brazils foreign debt which totals some 109 billion dlrs
he said that the japanese were resisting allowing us companies into the giant computer business while at the same time attempting to acquire control of a us company that does major computer business in the us market
pre tax profit 1059 mln stg vs 796 mln
we hope we can present the compromise proposal and that not only the consumer side but the producer side will accept it one official said
yugoslav trade falls sharply statistics show
he said the measures will help strengthen japans domestic demand significantly quite possibly exceeding one pct of gnp
the bank will transfer the remaining 460 mln dlrs that it is entitled to transfer to fdic by september 26 1987 swearingen said
the company said its fourth quarter and year losses resulted from additions to loss reserves
the bonds will be listed on stock exchanges in basle berne geneva lausanne and zurich
to increase its competitiveness oreilly said heinz implemented a lowest cost imaginable program targeted at manufacturing sales and marketing and procurement
queensland press board recommends murdoch offer
the meeting is set for saturday but could also continue on sunday he said
but it said improvement at lummus crest is expected to be approximately offset by a number of factors including a somewhat lower level of earnings in the power generation segment than in 1986 financing costs of the accuray acquisition costs associated with integrating accuray technology and operations and delays in waste to energy projects
he said it would it would open us markets to canadian goods and enable them to benefit from the economies of mass production
moodys investors service inc said it may downgrade 120 mln dlrs of debt of piedmont aviation inc because of the airlines agreement to be acquired by usair group inc u the rating agency said its review would focus on the effect of the acquisition on piedmonts financial leverage and its debt service requirements
glaverbels net consolidated profit rose to 542 mln francs last year from 137 mln in 1985 and the group is to pay a 29 franc gross dividend its first for over 10 years
spectra physics said the agreement prevents ciba geigy from raising its stake beyond 20 pct through jan 1 1992 unless another person get more than 10 pct of its voting power
tampico north spain 15000 mt ore two days shinc 3000 shex 5 25 4
mannesmann which yesterday announced it had agreed to take a majority stake in the fichtel und sachs ag car parts group for an undisclosed sum saw third party group turnover fall nine pct in 1986 to 1660 billion marks
domco industries ltd 1st qtr jan 31 net
the company said it retained first boston corp to assist it with the possible sale of the division assuming a fair price and reasonable terms can be obtained diamond crystal said sale of the unit was in the best long term interests of its shareholders
huttons stock also was affected by a newspaper report that first boston corp fbc accumulated almost five pct of huttons stock on behalf of an outside client traders said
american national corp fnb 1st qtr net
since 1983 84 he said world oilseed stocks have increased 131 mln tonnes
among the key components of the report transportation prices rose 05 pct in february after a 15 pct january gain reflecting smaller price appreciation for motor fuels and declines in new car prices and finance charges
treasury assistant secretary david mulford reaffirmed us backing for the paris agreement among six industrial nations to cooperate closely to foster exchange rate stability around current levels
the house armed services committee has voted for a transfer in the management of stockpiled materials for national defense to the us defense secretary
french agricultural minister francois guillaume warned that france would flatly reject proposed reforms of the european community ec cereals sugar and oilseeds sectors which he said would disrupt these markets
charter crellin inc crtr year net
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
argentina expects to reach agreement with its commercial bank creditors in the near future on a new financing package including 215 billion dlrs in new loans treasury secretary mario brodersohn said
last year south koreas current account surplus was 465 billion dlrs
in the past two days dome management has been pressured by the federal government to select the offer from transcanada the only canadian company in the bidding
in an attempt to help opec stabilize the world market egypt cut its 1987 production target of 940000 bpd to its current output of 870000 bpd
brazil suspended interest payments on its 68 billion dlr foreign debt to commercial banks on february 20 and shortly after announced it was freezing some 16 billion dlrs in short term credit lines
the reserve bank of australia said it would offer 500 mln dlrs of 13 week treasury notes and 200 mln dlrs of 26 week notes for tender next week the bank said it would take up 300 mln dlrs of the 13 week notes at the average yield
it said about 500 individual claims against it and certain of its units remain pending as disputed claims in bankruptcy court
a certain optimism has appeared in the economy to the effect that things are no longer impossible and morocco can get out of its problems we are aiming for 100 mln special drawing rights and if we can get more it will be put to good use he told a news conference
indias first ever rail bond issue oversubscribed
were happy about our long term future malaysian growers said they would try to expand sales in asia and the united states if malaysian cocoa was not suitable for european tastes
each 10000 mark bond carries two warrants which can be converted into 5000 dlrs each on the same terms as the warrants for the 1000 mark bonds deutsche said
the price of new crop cotton on the new york cotton futures market rallied today on weather related fears
fees total 1 7 8 pct with 1 1 4 pct for selling and 5 8 for management and underwriting including a praecipuum of 1 8 pct
he said he believes the stock is worth only about 50 dlrs on a takeover basis and about 46 dlrs on an earnings basis
the slow herd build up and the forecast lower production is expected to bring about a slight drop in both export and domestic consumption this year it said
zimbabwe coffee output set to rise
marketing systems masy seeks acquisitions
officials have said the 100 pct tariffs on 300 mln dlrs of japanese exports could be modified if japan was found to be honoring a portion of its semiconductor pact
qtly div 66 cts vs 66 cts pay may one record april 15
british silver goods assayed totalled 698132 an increase of 62 pct but only 78457 foreign items were marked a fall of 111 pct
an agricultural official of the shanghai government put maximum imports at about 10 mln tonnes this year against 773 mln in 1986 and 597 mln in 1985
the four weekly flights to washington will be increased to five at the end of the month a statement said
lockheed lk gets 1657 mln dlrs in contracts
american brands inc said it expects first quarter net earnings to exceed the record 1187 mln dlrs or 105 dlrs a share it earned for the year ago quarter
another 5000 salaried employees in akron work for goodrich
dupont unit raises crude oil postings
the company said lower corporate tax rates and the restructuring are expected to substantially improve brown formans earnings and cash flow in fiscal 1988
varlen corp vrln declares qtly dividend
in february the cost of living increased 73 pct from january and stood 936 pct higher than in february 1986
it said the rights are redeemable by its board at one half ct per right
telxon corp reported it expects revenues for the quarter ending march 31 to be between 26 to 28 mln dlrs
it said gnp growth for 1986 was a real 25 pct down from 47 pct in 1985
washington post co wpo 3rd qtr net
the letter said the food department would be able to release wheat and rice from the buffer stock to meet the immediate cereal requirements provided such stocks are replaced subsequently the meteorological department said the country was experiencing its worst drought since 1951 and the four month dry spell prevailing in most of the areas would only break when the monsoon rains fell in late may
the company also said that its share repurchase plan contributed to the per share gains over 1985
sosnoff also informed the sec that caesars had offered to buyout his holdings several times during the past year
homestake mining co is considering acquiring more gold ore reserves in addition to the companys exploration efforts chief executive harry conger told in an interview
net excludes gains from discontinued pipelines and terminals operations of 216000 dlrs vs 99000 dlrs in quarter and 527000 dlrs vs 296000 dlrs in year
royex said the purchase price for each corona share consists of one royex convertible retractable zero coupon series b first preference share at 20 dlrs nominal value one royex convertible 6 1 2 pct series c first preference share at 20 dlrs nominal value one five year 750 dlr royex share purchase warrant and four dlrs in cash
tanjug said in the interview mikulic warned the army could be called in if yugoslavias political system was threatened
at a rally in this city about 100 km northwest of sao paulo about 5000 bank workers voted to strike on march 24 unless their demand for 100 pct pay rises is met
banks in jordan have generally complied with the higher capital requirement except chase manhattan which decided instead to close its operation banking sources said
parent company pre tax profit 197 billion vs 191 billion
the suit alleges harcourts special dividend exceeds by more than one billion dlrs harcouts surplus available for dividends under new york law and contstitutes a fraudulent conveyance
morgan headed a syndicate that won the certificates in competitive bidding
coastal corp said its board will be asked to approve the companys plan to reorganize transamerican natural gas corp at its april 14 meeting
gte gte unit to sell infortext products
tech data tecd sets three for two split
chinas heilongjiang province boosts gold output
on april 1 macandrews and forbes owned by ronald perelman offered 1850 dlrs a share for the 63 pct of revlon shares he did not already own
oil minister arne oeien told the government had today discused the heidrun matter but that no final decision had been taken and several questions remained unresolved
reagan proposed 22 billion dlrs in revenue as part of his 1988 budget proposal but it did not include general tax increases
the report said the regions improved economic growth last year was based on a rise in internal demand and fuller utilization previously underused production capacity
qtr ends jan 31 shr nil vs nil net 2213 vs 16288 revs 1418019 vs 795522 avg shrs 6650000 vs 4150000 nine mths shr two cts vs three cts net 118984 vs 103384 revs 4066605 vs 2741241 avg shrs 6650000 vs 3969444
2 the ministers and governors reaffirmed the commitment to the cooperative approach agreed at the recent paris meeting and noted the progress achieved in implementing the undertakings embodied in the louvre agreement
the acquisitions include a total of 5100 acres of titanium zirconium and rare earth resources the company said
using as a reference the key three month sterling interbank rate as quoted in london lawson said britain now had a real interest rate level of 575 pct the same as japan did and only a 075 percentaage point above the group of five average
re exports fell by 66 pct resulting in a surge in net imports from 175901 to 251708 tonnes an increase of 43 pct
dollar drop seen as test of paris agreement
if the acquisition is consummated ambassador said it agreed to contribute 250000 dlrs to the existing capital of heritage
feds johnson says louvre accord alive but cites us german differences
proceeds will be used to finance a business expansion over the next one or two years by opening or acquiring additional stores rent a center said
the spokesman said mondays float included 500 mln dlrs in holdover float at one fed branch due to mechanical problems
the coupon rate is 962 pct and the loan life is eight years
gold rose by about 50 us cents an ounce following a statement by president ronald reagan that the arms for hostages deal with iran was a mistake dealers said
it can transfer bad loans under the terms of the 1984 restructuring agreement with the government
the official said the interagency meeting was called to discuss the general debt situation and compare notes on brazilian finance minister dilson funaro funaro who told reporters here that he wanted a political discussion with industrialized nations on brazils debt problems in an effort to obtain more and faster lending from official sources held discussions here on friday with volcker treasury secretary james baker and other officials
moodys lowered union bancorps senior debt and preferred stock to a 1 from aa 3 subordinated debt to a 2 from a 1 and long term deposits to a 1 from aa 3
they expect it to supply the reserves indirectly by arranging a fairly large round two billion dlrs or more of customer repurchase agreements
nusource said shareholders elected a new board consisting of richard a
the minimum denomination of mmcs will be lowered to 10 mln yen from 30 mln
the inland revenue statement also included other technical measures that lawson did not comment on in his budget speech
if qintexs us subsidiary has not achieved this ownership within one year after the completion of the merger the subsidiary will have the right two years thereafter to request that hri commence a rights offering to hri stockholders the company said
they were priced to yield 686 pct drexel said
last years output is estimated at between 133000 and 135000 tonnes
but the markets reaction testing exchange rate levels indicated by lawson was probably overdone and the longer term outlook for sterling remained bullish they agreed
the bulk of iraqs commercial debt excluding loans by its allies in the gulf war is in the form of trade financing
macmillan bloedel mmb stock split approved
fnma delays debenture offering announcement
the united states wants taiwans currency to appreciate faster to reduce taiwans trade surplus with the us a senior trade official said
caisse nationale des autoroutes is issuing a 120 mln ecu 7 3 8 pct bond due may 15 1995 at 101 3 4 pct lead manager credit lyonnais cl said
the companies said the agreement would allow computers unsecured creditors and debenture holders to receive new stock in exchange for exsiting debt and for shareholders to receive one new share of computers stock for each four shares previously held
india is reported to have bought two white sugar cargoes for april may shipment at its tender today near 227 dlrs a tonne cost and freight and could be seeking a third cargo traders said
us home sales fell 68 pct in january
the company said its composite prices for alloy plates will also be increased 25 dlrs per ton on the same date adding it does not publish its prices for this product
repayment starts in 1989 and is in 20 semi annual instalments
the country may have oversold and be unable to honor export commitments and this plus higher domestic demand caused by consumer price subsidies on ethanol and refined sugar will give it little room to stretch exports they said
bundesbank sets 28 day securities repurchase tender at fixed 380 pct
ibm said the new group is responsible for direct sales installation and service of the rolm product line as well as other ibm telecommunications products
the bank of england said it provided the market with a further 68 mln stg assistance this afternoon bringing its total assistance on the day to 143 mln stg
by the end of the year we will have the capacity to carry 50 pct of all us long distance phone calls holland said
giles keating economist with credit suisse first boston ltd in london said the cautious bundesbank has beaten a retreat and baker has won a battle but he hasnt won the war as the security repurchase rate is still 20 points higher than it was before the imf meeting last month in washington before the imf meeting when the louvre accord was reaffirmed the bundesbank was offering money market liquidity at 360 pct keating noted
loan loss provision 138 mln vs 130 mln investment securities gains 2003000 dlrs vs 169000 dlrs
shr 16 cts vs 22 cts net 1574000 vs 1725000 sales 1042 mln vs 1160 mln avg shrs 101 mln vs eight mln 1st half shr 37 cts vs 37 cts net 3675000 vs 2925000 sales 2445 mln vs 2306 mln avg shrs 100 mln vs eight mln
foreign minister raif dizdarevic said in caracas radical changes in interest rates and repayment times were needed
seton sel directors approve merger agreement
bp capital bv plans dual currency bond issue
sandra kaul a coffee analyst in new york with shearson lehman brothers said supplies currently are at their high point for the year because most producing nations have just completed their harvests
but he said in an interview that financial markets also understood that all six countries concluded that the measures to be taken over a period of time in the future should foster stability of exchange rates around current levels
shr 51 cts vs 36 cts net 2543285 vs 1686559 sales 1532 mln vs 1207 mln
shr loss 40 cts vs loss 130 dlrs net loss 3619000 vs loss 113 mln revs 241 mln vs 341 mln year shr loss 436 dlrs vs loss 209 dlrs net loss 387 mln vs loss 168 mln revs 1046 mln vs 1339 mln
the department previously said they fell 01 pct
time tl says it will refinance debt new york march 19 time inc said it intends to make a cash tender offer for its 150 mln dlr outstanding 10 5 8 pct notes due october 15 1992
enskilda securities said saab scania hopes to activate the program soon
they expect only marginal gains if not small declines for these indicators compared with a february increases of 05 pct in industrial production and 09 pct in personal income
the retail price index showed a year on year rise of 34 pct against three pct in january
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
major realty corp majr 4th qtr loss
shr 51 cts vs 40 cts net 14 mln vs 851000 revs 98 mln vs 65 mln six months shr 74 cts vs 50 cts net 20 mln vs 11 mln revs 177 mln vs 113 mln avg shrs 27 mln vs 21 mln notequarter ended march 31
sen
harley davidson hdi unit to sell 10 year notes
the philosophy of the new policy is not to close registrations
shr profit one ct vs nil net profit 163016 vs loss 23527 revs 250469 vs 48473 note full name consolidated professor mines ltd
it is conceivable that under a couple of these plans we might use the midamerica exchange temporarily for some cbt markets sladoje said
i expect to see enough improvement in real net exports to keep a recession from happening but it is a close call gramley said
tmoc has exploration interests in a number of areas in the amadeus surat eromanga and canning basins
the talks in which the philippines is seeking to reschedule about 94 billion dlrs of debt are now dominated by a discussion of the innovative proposal made by finance minister jaime ongpin to pay part of the countrys interest bill in philippine investment notes pins instead of cash
were just waiting a while for prices to improve an unidentified mexican trader told the agency
eight calabrian bank officials released from jail
the bonds will be callable at 106 after five months and until april 28 1988 and thereafter at prices declining by one pct per annum until 1993 but only if the share price is 130 pct of the conversion price
tran charged that the trade measures contravened a political commitment to halt and reverse trade barriers pledged by ministers in punta del este last september
the current mission is not involved in that area but there are plans to buy substantial amounts of cotton from the us he noted his country is clearly not as open as the american market
the company said it lowered its revenue plan for the balance of 1987 and also expects to record a loss for the entire 1987 year
a subsidiary of state energy concern ente nazionali idrocarburi entnmi eni said it has acquired a 50 pct stake in steuart petroleum co an independent us oil products company
claims on the international monetary fund imf rose by 298 mln francs to 1961 billion francs due to net withdrawals in francs by member nations and an increase in reserves of special drawing rights sdrs due mainly to the repayment of french debts
because of the change in perceptions about the health of the german economy the funds from those unwinding operations are ending up in yen a dealer at one uk bank said
allegheny ai sells three industrial units
phlcorp phx has breakeven results
guinness peat group plc gnspl has arranged to receive a 125 mln dlr five year cash advance facility said barclays de zoete wedd ltd and guinness mahon and co ltd as joint arrangers
oper shr 17 cts vs 19 cts oper net 636000 vs 358000 revs 106 mln vs 7024000 avg shrs 3808000 vs 1924000 year oper shr 73 cts vs 65 cts oper net 2467000 vs 1199000 revs 315 mln vs 229 mln avg shrs 3372000 vs 1785000 note net excludes investment gains 20000 dlrs vs 86000 dlrs in quarter and 586000 dlrs vs 195000 dlrs in year
japan firm develops ultra heat resisting rubber
there is a flight to quality hamley said
fcs laboratories said its merger talks with another unidentified company in the health care field ended without agreement
cominco seeks meeting with striking union locals
ccl unit acquires nestle canada can operations
detailed consideration of the issue has been shelved during thatchers official visit to the soviet union which ends today
the price will be used in determining first handler cotton certificate payment rates
evans was referring to a nearly completed government review of oil taxation
noranda said the cause and full extent of the damage is still unknown but the fire destroyed 6000 feet of conveyor belt
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
ma hanna said the purchase which is subject to certain conditions is scheduled to close around the end of october
shr loss 18 cts vs profit 11 cts net loss 15 mln vs profit 868000 revs 293 mln vs 411 mln year shr loss 41 cts vs profit five cts net loss 31 mln vs profit 409000 revs 992 mln vs 2317 mln
panchos mexican buffet inc pamxo 4th qtr net
but a bank using dollars to obtain liquidity would foresake interest on the us currency while the underlying treasury bill investment is unaffected in a repurchase accord
peru coffee crop unaffected by rains
3rd qtr 1986 includes pre tax gain of 65 mln dlrs from sale of mci airsignal subsidiary and after tax extraordinary loss of 17 mln dlrs from early redemption of 9 1 2 pct subordinated notes
nissen said he believed that if when issued trading were not allowed market makers would be extremely unhappy about the whole auction gilt dealers noted that it was a basic provision of stock exchange rules that dealing could not take place in a stock until it was listed by the quotations department
he added however first interstate at the moment has the advantages of having owned and managed regional banks longer and has the recognition advantage of having given its regional banks a common name
everything else is nothing but speculation he said
the division includes 60 operating supermarkets in five states most of which are in utah idaho and wyoming together with distribution and manufacturing facilities safeway said
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
assets of us money funds rose in week
but the buffer stock manager would have to wait for the higher daily price to feed through into the 10 day average the indicator which governs his activities traders said
dynamics corp dya in settlement with cts cts 
energy analyst edward krapels said the united states should consider an oil tariff to keep us dependence on imports below 50 pct
liquidity also came in through the maturing of short term treasury bills bought from the bundesbank in the prior week
seismic enterprises inc seis 4th qtr loss
fleet financial group hopes its proposed merger with norstar bancorp nor ranked as the largest us banking merger can be completed by the beginning of 1988 according to an executive of fleet
it said it has started implementing a plan to progressively reduce manufacturing costs at alloytek over the next several quarters
general electric credit corp delivered a commitment letter arranged by the gecc capital markets group inc for the financing
the bank said its bad debt losses should begin to decline this year although it may take some time before they return to accepted industry norms the annual report showed that the banks charge for bad and doubtful debts rose in 1986 to 1876 mln rand from 1621 mln rand in the prior year
in a letter to shareholders in its 1986 annual report the regional bell company did not indicate the degree of earnings dilution it expects from the acquisitions which total some 138 billion dlrs
according to the document the committees counsel said it needed one to two months to evaluate the offering price
orley acquired the vessel from banstead shipping ltd
note totals may not add due to rounding
miyazawa added that it was difficult to say why there has been such speculative dollar selling in the market
the bank has said its business last year suffered from the turbulence around the troubled trade union owned housing concern neue heimat
mcdonalds launches 75 mln aus dlr eurobond
us m 1 money supply rises 500 mln dlrs
mortner said he expects profits in the first quarter to be better than he had originally expected in the beginning of the year
a panel of four leading economists told a congressional hearing today that foreign economies will need to expand to avoid recession as the us trade deficit declines
these activities elevate the risk content of merrills balance sheet at the same time as low profitability inhibits the strong internal capital generation which may be necessary to support business expansion efforts moodys said
minister luis diego escalante who serves as president of the costa rican coffee institute said he was hopeful because of the support offered costa rica and other smaller producing nations by such major consumers as the united states britain and the netherlands at last weeks ico meeting in london
it means they have to be convinced that the government prioritises the program he said the world bank had financed developmental costs under an earlier land reform program launched by former president ferdinand marcos in 1972 and such aid had been channelled through the land bank of the philippines lbp the lbp is the main implementing agency under aquinos program
indonesia rejected world bank recommendations for sweeping reforms to its farm economy as the countrys foreign aid donors met to consider giving it 25 billion dlrs in grants and soft loans
shr loss 10 cts vs profit 17 cts net loss 1546000 vs profit 4078000 revs 226 mln vs 389 mln
garo armen an analyst with dean witter reynolds said chemical makers have also benefitted by increasing demand for plastics as prices become more competitive with aluminum wood and steel products
he told security analysts middle south was close to recommending resumption of the common stock dividend when the mississippi court ordered the rate rollback
senior industry and research officials met yesterday at padukka east of here to discuss ways of controlling the fungus which is affecting estates mostly belonging to the state plantations corp and janatha estates development board
us soybean lobbyists and congressional aides criticized a proposal from a senior agriculture department official that congress allow the us soybean loan level to be officially lowered to 456 dlrs per bushel next year
adm export co of minnesota received a 54000 tonne cargo at 9375 dlrs per tonne for november 1 15 delivery
also an earthquake in ecuador yesterday led it to suspend oil exports indefintiely and force majeure its shipments
enserch issues 100 mln dlr convertible bond
there have been certain advances on cutting production costs reducing fiscal costs and awarding drought aid but there are still areas where more could be done such as on farmers indebtedness he said
as a result he said us produced soybeans have a price problem in competing with other soybean producing countries
north side savings bank nsbko 4th sept 30
accordingly the vote of an additional 371 pct of the outstanding shares will be required to approve the merger tender loving care said
town and country jewelry manufacturing tcjc 
he added the caracas based andean development corp had granted a loan of 117 mln dlrs towards repairing the pipeline 50 km of which had been damaged in the quake
exports accounted for 653 pct of turnover in the quarter against 664 pct in the same quarter of 1985
shr loss 931 dlrs vs loss 162 dlrs net loss 162 mln vs loss 2770243 revs 994 mln vs 962 mln
moodys said that while british petroleum has greatly strengthened its capital structure over the past few years this acquisition would seriously affect the companys liquidity leverage and interest coverage
more
utah power and light co utp 1st qtr net
belden and blake energy co bbe 4th qtr
thailands foreign reserves fall in february
national distillers and chemical corp expects to realize a second quarter after tax gain of four dlrs per share from the 545 mln dlr sale of its spirits business to american brands inc amb national distillers stock rose 1 1 8 to 65 1 2 after an opening delay on the new york stock exchange for an imbalance of orders
under terms of the agreement tendering shareholders will receive 2460 dlrs per common share 20 dlrs per preference share and 8750 dlrs per preferred share
under the terms of portugals accession to the european community a grain import monopoly held by epac is being reduced by 20 pct annually until all imports are liberalised in 1990
but this freedom from regulatory restraints also has meant other banks that were better managed have gotten stronger seidman said
the japanese electronics industry is too powerful to be stopped altogether but recovery for the industry will be delayed for another year he said
after 1984 all banks started to be more careful in giving credits so the non performing loans is a problem of the period between 1980 to 1984 erk said
a spokesman said this means telecom will decide before the 16th whether or not to accept the proposed change
the company said its board is now composed of three cyclops executives chairman wh knoell president james f
1986 year excludes extraordinary gain of two cts a share
skyline said it is optimistic the approval in principal will be received in late june by which time it expects to have confirmed threshold tonnage and grade targets so construction can begin in july
soybeans were boosted by expectations that the agriculture department would report a healthy signup for the conservation reserve program which pays farmers to leave highly erodible land idle instead of planting a crop traders said
danish foreign minister uffe ellemann jensen said in an interview with the daily berlingske tidende denmark will not accept a ban on danish meat exports and i am sure we can reach an understanding with the canadians with the help of the ec danish pigmeat exports to canada were worth 106 mln crowns in 1986 while canadian exports to the european community totalled about 65 billion us dlrs
co leads are anz merchant bank banque nationale de paris hambros bank ltd and sg warburg and co ltd
guyana hopes to overcome its financial problems within three to five years and is now seeking help from donor governments finance minister carl greenidge said
in addition margoshes said he recommended atlantic richfield arc on a short term basis though he said he is still suspect about its debt situation
pickens predicts the us rig count will soon drop below 600 and will not increase significantly until oil prices do
general partners a texas partnership that recently ended its bid to take over gencorp inc told the securities and exchange commission it sold nearly all of its remaining 86 pct stake in the company
tcw convertible securities fund inc said its board declared an initial quarterly dividend of three cents per share payable april 30 to shareholders of record april 17
home federal said notice of the meeting and related proxy materials which has been filed previously with the securities and exchange commission and the federal home loan bank board were mailed on june 26 to holders of record on june 15
crazy eddie said it will hold its annual shareholders meeting on november 6
chi chis said it believes the disposition of the restaurants has the potential of increasing its pretax earnings by about two mln dlrs next fiscal year
herrington asked his reaction to the white house reaction said if i were the white house i would be cool too
borg warner ex chairman jf bere who serves on the hughes board is believed to favor the merger with baker
these tradeable dollar denominated notes would have a six year life and if banks swapped them for cash before maturity the country would guarantee a payment of 7 8 point over libor
rubber producing and consuming countries which agreed on the bases of a new international natural rubber agreement inra last weekend are now putting the final touches to the future accord delegates said
the first banks to issue the variable money market cds were sanwa bank ltd sumitomo trust and banking co ltd dai ichi kangyo bank ltd fuji bank ltd and sumitomo bank ltd each with tranches of 100 mln dlrs shearson detailed
at present the standard or bottom price of castrated wagyu beef known as marbled beef is 1400 yen per kilo while its ceiling is 1820 they said
the source said if approved the authority would allow a transaction to be carried out
proceeds will be used to finance acquisitions and for general corporate purposes the company said
martin said the coming rebound reflects new product introductions in the mid range area rather than any drastic improvement in economic growth or us capital spending
arbed sees need to maintain pressure on costs
however maki quoted kato as replying that japan was already the worlds largest grain importer
the investor group seeking to acquire gencorp inc said it agreed to cancel a court hearing after gencorp withdrew three proposals that if approved would have made it more costly and difficult to acquire the akron ohio based company
the committee also granted export certificates of 35000 tonnes of barley at 13735 ecus per tonne but rejected all bids for the export of soft feed wheat they said
the company said pricing competition and lower traffic levels in the motor carrier industry hurt its first quarter results
this was our second best year pushed by a good supply and demand balance for products low feedstocks and energy costs for our operations silas said in 1987 we think the markets supply and demand balance will be just as good but feedstock and energy costs will rise due to price recovery
an interim cut in electric rates in delaware and maryland to reflect a lower allowed return on equity was made in the second half of 1986
ferc issues take or pay gas policy plan
the banks were agonizing how to reconcile this package with venezuelas
henkel to increase stake in clorox clx 
he said there is a possibility the company will sell the smelter which currently employs 320 people before its scheduled closing
the agency said the rating recognizes risks in chicago pacifics highly leveraged balance sheet uncertainty arising from its consideration of another sizable acquisition and exposure to the european appliance industry
as of friday dixons group plc had acquired 2455000 cyclops shares giving it 83 pct of the total
cordovez said ecuador would seek new loans from multilateral organisations
shell canada said it raised crude prices by 47 canadian cts a barrel today
fairchild president seeking management buyout
swearingen who came out of retirement in 1984 to head the struggling banking firm after a career as an oil industry executive said he will retire when the three year period he agreed to be continental chairman ends in august
british authorities are also understood to have intervened to curb sterlings strength
valhi inc formed by the march 10 merger of amalgamated sugar co into llc corp said it had unaudited pro forma earnings of 72 mln dlrs or 61 cts a share for the six months ended december 31
the april japanese government 10 year bond coupon has been set at 47 pct against five pct on the march bond
piedmont aviation inc pie sets quarterly
shr loss 11 cts vs profit 12 cts net loss 286817 vs profit 292014 revs 9972379 vs 9413304 year shr profit 63 cts vs profit 57 cts net profit 1547893 vs profit 1481703 revs 439 mln vs 410 mln avg shrs 2474820 vs 2617768
the performance of the dollar in the exchange market might become a factor bearing on our provision of reserves volcker said in testimony to the senate banking committee
it estimated 1985 86 output at 1613 mln tonnes vs 1613 mln last month
senior japanese us and european officials in tokyo say they are at a loss to fully explain the data for if currencies are the key they ask why then are are us exports to japan shrinking what if manipulating currencies and driving the dollar down made world trade problems worse rather than solving them fulfilling federal reserve chairman paul volckers forecast of world trade recession us japan trade has declined even after a 40 pct dollar fall against the yen since the september 1985 group of five pact in new york
bilzerian last week said he was considering raising his stake in the company seeking a board seat or control
if sumitomo were to set up a securities operation it would have to set up a full subsidiary he said
combined refinery and comex stocks eased to 212200 tons in january from 238700 tons in december
hadson corp said it has signed a definitive agreement to acquire 85 pct of the outstanding common stock of seaxe energy corp
officials told last week that commerce secretary malcolm baldrige and defence secretary caspar weinberger fought the planned sale of fairchild by french controlled schlumberger ltd slb to japans largest computer maker because it could have left the us military dependent on foreign sources for vital technology
the company said the property is estimated to contain over 500000 troy ounces of gold and the initial mining project covers only seven of 192 claims with drill indicated reserves of 293000 short tons grading 088 troy ounce of gold per ton
the proposal also would require acreage reductions of 20 pct eliminate generic certificates and prohibit persons not actively engaged in farming from receiving program benefits
treasury balances at the federal reserve rose on feb 27 to 3482 billion dlrs from 1538 billion dlrs the previous business day the treasury said in its latest budget statement
national australia bank lowers benchmark prime
the sinking fund for the debentures will retire five pct of them a year
international american homes inc said it has contracted to acquire diversified shelter group ltd for about 11850000 dlrs to be paid 73 pct in cash and 27 pct in international american common stock to be valued on a 30 day trading average prior to closing
shr 10 cts vs two cts net 163832 vs 31063 sales 5434430 vs 3167735 avg shrs 1712231 vs 1533277 year shr 59 cts vs 41 cts net 1016375 vs 550625 sales 197 mln vs 9755018 avg shrs 1710256 vs 1327172
gillette is buying a total 180000 shares valuing the deal at 126 mln francs
div 47p making 87 an increase of 139 pct shr 163p vs 179p adjusted pretax profit 3709 mln stg vs 3455 mln net 2212 mln vs 2413 mln interest payable 810 mln vs 535 mln share of associated cos 688 mln vs 542 mln turnover 122 billion stg vs 110 billion
university patents inc upt 2nd qtr jan 31 net
the commission has also approved transcapital acquiring up to 45 pct of astral pacific rainbow said
yankee cos ynk unit to sell asssets
edward markey d mass the chairman of the telecommunications and finance said at the start of a hearing on sec activities
the survey included 15 soybean estimates and 13 corn estimates and was released in the march 16 soybean update newsletter sent to members
it gave no details of ice conditions at the other major soviet baltic export harbour of klaipeda
a 25 pct share in sabena would be sold in mid 1989 for 15 billion francs while 50 pct of the postal and telecommunications authority would be sold off in two stages in mid 1990 and early 1992 raising at least seven billion francs
sceptre resources ltd srl year net
asked if he thought loan losses in those areas had peaked he said i dont think it has bottomed out because i think most of the problems are real estate related and the real estate problems are going to be with us for several years pinola said another failing economic sector agriculture in the midwest has slowed expansion of first interstates franchise operation
by 2000 maybe we will overtake shanghai he added
ec foreign ministers issued a statement deploring japans continued trade imbalance and appealed for the country to make a greater effort to open up its markets
a foreign ministry statement last night hinted turkey was claiming victory
his petition said ucpbs plans to sell the shares to smc were a serious breach of fiduciary duties the smc sources said the proposed share sale could also be held up by a second derivative suit filed before the securities and exchange commission sec by eduardo de los angeles a government nominee on the companys board
we saw continued demand for our personal computers across the quarter with march 1987 being a particularly strong month
arrears to the imf and the world bank are projected to rise to 100 mln dlrs by the end of 1987
healthmate inc says auditors intend to qualify its financial statements
key us house trade subcommittee approves bill to toughen us trade laws
dome petroleum reaffirms dome mines stake for sale at right price spokesman says
metro mobile mmct declares stcok dividend
he expressed confidence that the new inra would continue to keep prices stable by selling or buying rubber as prices rose or fell through its buffer stock system
the second proposal would link continuation of a quota system with progress toward plant closures although less than a month ago the ec steelmakers lobby group eurofer said they had abandoned efforts to close plants voluntarily
du pont which opened with a two point gain stood at 109 1 8 up 1 1 8
the bank of spain which only yesterday raised its key overnight call money rate to 135 pct left it unchanged at todays auction
kaltenbacher to acquire seton for 1575 dlrs per share in cash
first interstate seeks acquisition
a year ago it had a loss of 1553592 dlrs or 20 cts a share on revenues of 515225 dlrs
under the other proposal received from paul bilzerian pnp shareholders would receive on a blended basis 1667 dlrs in cash and 333 dlrs in liquidation value of cumulative redeemable preferred stock for each common share the company said
previously it was expected the business would peak and decline at some point in the next five years
uk money market given further 284 mln stg help
the number of active oil drilling rigs in the us was 766 last week compared with 1212 rigs one year ago huges tool co ht figures show
swedish sources said major paper mill projects and an aviation agreement would be discussed during carlssons one week visit
prior year results restated
sun electric corp se 1st qtr jan 31 oper net
sorghum use rose marginally to 480 mln tonnes in 1986 87 from 479 mln but the compounding ratio fell to 185 pct from 189 pct because of greater corn use
other strains have intensified between us and non us banks partly because us regulations and accounting rules discourage writedowns
australias seasonally adjusted real gross domestic product gdp rose 11 pct in the fourth quarter of 1986 after rising 02 pct in the third quarter the statistics bureau said
canada march foreign reserves rise 123 billion us dlrs official
the investor has to scrutinize participation shares carefully before making an investment decision schneider gaedicke said
webb said it had a one half interest in the venture
money market rates rates showed a harder edge after news uk chancellor of the exchequer nigel lawson has set a target for the pound against the mark and dollar to be maintained by a mixture of interest rates and intervention in the foreign exchange markets
merrill lynch capital partners a unit of merrill lynch and co is tendering for 89 pct of borg warner and offering a package of cash and securities for the balance of the shares
italian treasury bill offer has mixed response
shr 365 dlrs vs 33 cts net 825 mln vs 7300000 sales 944 mln vs 854 mln avg shrs 226 mln vs 217 mln note current year net includes pretax gain 1752 mln dlrs on sale of ophthalmic business and loss 179 mln dlrs posttax from repurchase of debt
the other items in the total extraordinary loss of 1405 mln dlrs were a 1029 mln write off of unrealised exchange losses and 103 mln for an increase in future tax provision
a nasty row is also looming over 16 billion dlrs of trade and money market lines which brazil froze last month
commerce minister suleiman abdulaziz al salim told saudi businessmen this week the government had carefully considered the need to stimulate the economy when drawing up its budget plans late last year
she said market forces have a major influence on exchange rates and said she did not know the right value for the dollar against the yen or the mark
figures include extraordinary credit from tax benefit of 42 mln dlrs in quarter vs 23 mln a year earlier and 42 mln for year vs 56 mln year earlier
the value of the other components could command a higher multiple because they constitute a higher percentage of the total operating earnings of the company he said
production of indonesias staple food rice is forecast to fall to around 263 mln tonnes from an embassy estimate of 2658 mln tonnes in 1986 according to the annual report on indonesias agricultural performance
us senate panel could consider trade measure
the group which includes hlm associates hlm associates ii and their three general partners said it sold the stock between april 22 and june 9 at 900 to 9125 dlrs a share as the result of an investment decision
bank economists said the rise in the february trade surplus reflected an improvement in the terms of trade as well as seasonal factors
irvam said yields are expected higher than last years low levels if favourable weather continues in the next few weeks
the four dealers for the program are anz securities asia barclays bank plc bt asia ltd and morgan guaranty ltd
it did not disclose the topic of the talks
combined international corp said its board voted to increase the quarterly dividend 71 pct to 60 cts a share from 56 cts payable may 26 record may 12
closing is expected around march 31
small scale spot business was reported by west german operators at 1260 and 1263 marks per kilo although the market was still being undercut by chinese material which traded at one stage down to 1254 marks per kilo traders said
the index base 1980 fell to 1545 in february from 1546 in january against 1474 in february 1986 giving a year on year increase of 48 pct
but now japanese are going for blue chip organisations he said
cons gold said last month that its arc america corp unit had agreed to buy the ohio based company for 30625 dlrs a share cash or 242 mln dlrs in a deal recommended by the aggregates board
bank of new england bkneo post pro forma net
a bank of japan official said the central bank approved of the survey as long it was not used too forcefully
the finance ministry said tariffs would be cut later this month on a further 53 items including acrylic yarn and ethylene by an average 77 percentage points in order to check inflation
deposits by the private sector rose an unadjusted 11 billion stg in february and by a seasonally adjusted 175 billion stg
the december current account had a 100 mln crowns deficit against a yearago 200 mln deficitdecember trade balance was 23 billion surplus against yearago two billion
qtrly div five cts vs five cts pay apirl 10 record march 30
analysts have said sgl management may be considering a leveraged buyout
venezuela would lend 50000 barrels per day of crude for a total of up to to 75 mln barrels to help ecuador meet export commitments espinosa said
ecuador was pumping about 260000 bpd before the earthquake
egypt will tender thursday for 200000 tonnes of optional origin corn us number two or equivalent 145 pct moisture for late april shipment private export sources said
third qtr 1986 includes extraodinary tax gain of 270000 from early extinquishment of certain drafts payable
the report said that although the government had succeeded in cutting inflation 50 pct a year in the first half of 1985 to under 70 pct its stabilisation and reactivation programme was encountering increasing difficulties
laidlaw financed the acquisition of gsx by its us subsidiary laidlaw transportation inc with the proceeds of a 200 mln canadian dlr preferred stock issue and borrowing
magma copper co a subsidiary of newmont mining corp said it is lowering its copper cathode price by 025 cent to 6550 cents a lb effective immediately
the countrys oil import bill however fell 23 pct in the first quarter due to lower oil prices
the ministry spokesman said he had no other details on the maize transaction
it said it will add 4400 subsribers to its 568000 subscriber base
the test developed by cetus corp ctus researchers requires only a small amount of genetic material from a fetus and produces a diagnosis within a day unlike other tests that require several days and can only be done in a few specialized centers they said
south koreas wholesale price index base 1980 rose 04 pct to 1270 in may after a 11 pct rise in april and was 15 pct higher than in may 1986 the bank of korea said
the federation of oils seeds and fats associations fosfa in london said it had previously advised traders to adopt the metric system for coconut oil transactions to bring the commodity into line with other vegetable oils
in a filing with the securities and exchange commission the warburg pincus group said it bought the stake for investment purposes
in response to a question from mitchell energy and development corp mnd chairman george mitchell herrington said the report did not definitively rule out an oil import tarrif
no comment was immediately available from the employers organization
wheat and rapeseed crops in east china suffered considerable damage because of frost during a spell of unusually cold weather in late march the china daily said
the french governments privatisation program which began late last year has earned the french state about 52 billion francs to date the finance ministry said
money market sources said institutions in need of funds were likely to have to return to the bank tomorrow for further assistance
february non durable goods sales gained 13 pct after declining 02 pct in january
dutch brewer heineken nv said it hoped to maintain for a number of years a similar earnings growth to the 75 pct increase in net profit achieved in 1986 despite continuing investments in a reorganization program and efforts to extend world penetration
reynolds said work on the restart will begin in the near future and it is expected that actual metal production will begin september 1
they normally try to do things before the iggi inter governmental group on indonesia meeting in june to prove they are doing something about the economy to show they deserve a couple of billion dollars the iggi which groups 14 industrialised donor countries and four agencies gave indonesia 25 billion dlrs in soft loans and grants last year
chryslers c credit canada placed on creditwatch
under the bill adopted by the committee countries friendly to the united states would be eligible to host the trade missions
scott scot declares first payout
he said hollinger was currently talking to about 10 such newspapers in the us where the company currently owns 23 dailies
walter thompson co jwt groups main subsidiary and its president and chief operating officer
share results after deducting preferred share dividends of one mln pounds sterling in 1986
smithkline also said its allergan inc eye and skin care products division can be a one billion dlr organization in the next five years that can grow at more than seven to 10 pct annually
spain raises call money rate to 145 pct
he said this coupon pass which adds permanent reserves to the banking system was for regular delivery tomorrow
the warrants have an exercise price of 1507 yen per share compared with the last traded price of 1470 yen it said
the iwc said the area harvested for wheat in 1987 88 is likely to be down from last year as low world prices and restrictive national policies measures begin to take effect
mln dlr 20 year loan to assist pakistan in a project designed to improve power plant efficiency
he added in 1987 88 some 2766 billion riyals had been allocated for major projects including housing and public buildings social services health education transport and communications electricity and water industry and agriculture
immucor inc said its board of directors has declared a five for four stock split in the form of a 25 pct stock dividend payable april 15 to shareholders of record march 27
she said short term bank lending rates fell to an annualised 1388 pct at the end of december from 1458 pct a month earlier and 1982 pct at the end of december 1985
shr 36 cts vs 28 cts net 2002000 vs 1518000 sales 1660 mln vs 1595 mln
the spokesman said the ministers reviewed their economies and public spending domestic and european community wide
as a result the current account surplus in 1987 will rise to 95 billion dlrs from 86 billion in 1986 although in 1988 it should fall back to 87 billion dlrs
us grain trade calls shultz remark significant
us sells 3 mo bills at 563 pct stop 564 pct 6 mo 559 pct stop 560 pct
but the latin borrowing nations control 54 pct of the vote and frequently approve loans to which economic reform conditions are not tied
the issue is callable at 106 pct declining by one pct per annum to par thereafter but is not callable until 1994 unless the share price reaches 130 pct of the conversion price
consolidated pipe lines co year net
an additional 150000 tonnes of wheat flour is still available to iraq under the export enhancement program initiative announced january 7 1987 the department said
but margins improved in the second half and in particular refining and marketing in eastern canada showed a good recovery
admac inc jpac 3rd qt jan 31 loss
general partners controlled by privately held wagner and brown and by afg industries inc said plans to sell gencorp incs aerospace and soft drink bottling divisions if it succeeds in acquiring the company
union texas said for the full year it restated its loss to 575 mln dlrs from 495 mln dlrs and revenues to 126 billion dlrs from 127 billion dlrs
temperatures average one to four degrees c above normal throughout all grain areas stressing grain filling corn in areas receiving lightest rainfall it said
icn mark eurobond issue now uncertain
permian basin royalty pbt hikes distribution
telxon corp said it expects per share earnings for its fourth quarter ending march 31 to be about 23 cts to 26 cts on revenues of 26 mln dlrs to 28 mln dlrs
robert durham said
arus arscc gets 52 mln dlr order
six flags might sell for as much as 300 mln dlrs analysts said
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 gcc groups bahrain kuwait oman qatar saudi arabia and the united arab emirates uae the bank said the improvement would result from higher oil prices made possible by last decembers opec accord to restrain overall group production
funds will be used to refinance the cost of the recent forstmann leff associates acquisition as well as for general corporate purposes
indonesian export commitments and domestic requirements are both running at high levels oil world said and it expects the countrys imports to reach a record 110000 tonnes during jan sept
the bank said in a statement the loan will be for 10 years with a five year grace period
today he was returning to jakarta from a visit to world bank funded projects in eastern java and was scheduled to meet leading economic ministers in the afternoon
american farmers would continue as working tenants and part of the profits from harvests of rice corn soybean and oranges would go to the japanese investors as rental
norcros shares eased 26p to 410p on the announcement while williams fell to 767p from 785p
sumitas statement was issued after the dollar slipped below 150 yen to hit a record low of 14840
norandas new brunswick mine smelter also has a contract expiry in july which may cause some nervousness in view of strikes by its zinc and copper workers over recent months
the commodity credit corporation ccc has authorized 250 mln dlrs in credit guarantees to north yemen to cover purchases of us wheat under the intermediate export credit guarantee program gsm 103 the us agriculture department said
the fhlbb said victor federal savings was insolvent and its assets were transferred to a newly chartered federal mutual association with directors named by the fhlbb
siaf a subsidiary of swedish match since 1946 had a turnover last year of 62 mln crowns the swedish group said in a statement
louis hub
we expect the ministry to give us permission by the end of april he said
indonesias agriculture sector will grow by just 10 pct in calendar 1987 against an estimated 24 pct in 1986 as the production of some commodities stagnates or declines the us embassy said in a report
the company said it acquired two mln enzon shares for 15 mln dlrs with loans to enzon of two mln dlrs and interest of 30000 dlrs credited against the purchase price
although germany cannot entirely shield itself from the negative effects of the global synchronization of monetary policy it should do all it can to strengthen the forces of growth at home
experts said it could take months to refloat the ship and free the 80 bodies estimated to be trapped amid debris
shr loss 44 cts vs loss 20 cts net loss 24 mln vs loss 880000 revs 24 mln vs 26 mln year shr loss 87 cts vs loss 11 cts net loss 43 mln vs loss 494000 revs 90 mln vs 120 mln note1986 includes restructuring charges of 21 mln dlrs and loss of foreign affiliates of 20 mln dlrs
house speaker jim wright said a gasoline tax is one option to finding a way to reduce the deficit but told reporters in response to a question he will not try to dictate a solution to the debt problem
us senators propose ban on toshiba imports
novell inc novl 1st qtr jan 31 net
rapeseed consumption in 1986 87 was 563889 tonnes against 528152 a year earlier
net includes loan loss provisions of 75000 dlrs vs 30000 dlrs and gains on sale of securities of 756000 dlrs vs 2468000 dlrs pretax
the spin off and the sale of hongkong electric shares will give hutchison a 53 pct stake in cavendish
fed funds opened at 6 3 16 pct and remained there in early trading
the government adopted a tough austerity program last friday intended to grapple with the tremors economic costs
the bond pays yearly interest on that day and expires on that day in 1992
however certain exporters fear china may renounce part of its contract with france after being offered one mln tonnes of us soft wheat under the export enhancement program in january and making some purchases under the initiative
congressional observers said that at present there was little sentiment in congress to open the wildlife area for commercial exploitation dispite increasing concern that the united states is becoming overly dependent on foreign oil
billion dlr debt burden this year are slim with coffee prices plunging oil prices up but still well below 1985 levels and interest rates beginning to rise
bank of japan to sell 500 billion in bills
meston lake resources inc 653 pct owned by campbell resources inc said it will begin commercial output at its joe mann mine in the chibougamu area of quebec at an initial daily rate of 500 short tons of ore grading 015 ounce of gold per ton
one japanese refiner said at the moment theres a lot of pressure on opec particularly on qatar
shr 125 dlrs vs 114 dlrs net 472254 vs 446805 revs 214 mln vs 194 mln
he said the ministers discussed a report on imported goods containing radiation caused by last years chernobyl nuclear disaster in the soviet union and agreed all products with excessive levels should be returned to the country of origin
the well tested gas at a rate of 62 mln cubic feet a day through a 26 64 inch choke with 1548 pounds flowing tubing pressure
in the previous auction for 1000 billion yen four major japanese securities houses took 92 pct of the issue amount in an attempt to meet strong demand from large institutional investors securities managers said
volcker also said he would prefer to further tighten the governments purse strings than have the fed tighten the credit supply if action was needed to fight inflationary pressures or to assure the continued flow of foreign capital into the united states
wallace computer services inc wcs dividend
a trader at a major international trade house who asked not to be named said he expects a 10 cent drop near term but believes if brazil opens may registrations at a relatively high export price and requires a high contribution quota from exporters the market could steady at the lower levels
fed officials do not comment on such intervention but dealers said it appeared that the fed had intervened when the dollar reached 14750 yen in new york
okc limited partnership said it will make a five ct per share distribution to unitholders down from 15 cts in december and payable march 30 to holders of record march 18
finlands business group amer yhtyma oy yhtyhe said it has signed a 50 mln dlr six year syndicated multicurrency loan with a group of 15 international and four finnish banks led by citicorp investment bank ltd
solar systems said it was buying the 45 pct stake in a us based europharmaceutical co inkey and an affiliate own the remaining shares of the company which was set up to distribute condoms and vaginal products that are made or are being developed by inkey
other significant purchasers for the current year were mexico and honduras it said
it said it aims to double its marketshare in five years from the about 35 pct of the employee benefits industry it controls
in a statement the finance ministry said the process for formalizing the package was going as planned
including acceptances loans fell 390 mln dlrs to 6474 billion
the agreement followed a year of turmoil on oil markets which saw prices slump briefly to under 10 dlrs a barrel in mid 1986 from about 30 dlrs in late 1985
wells fargo and co wfc 3rd qtr net
united telecommunications inc said its lower first quarter earnings included a loss of 63055000 dlrs from its equity in us sprint
in the past he has preferred to be less definite about the governments exchange rate policy lest it give foreign exchange markets set limits to test
mcdowell enterprises inc said it has signed a definitive agreement to acquire an 80 pct interest in privately held interpharm inc for a 199 pct interest in mcdowell
there is no call for three years subsequently at par plus the coupon declining by equal amounts per annum until 1997
dealers cited some borrowing interest in two three and six month deposits but said activity focused on short dates and one month deposits as banks tried to lend surplus funds
figures in dollars
sour crudes which would be most affected by the pipeline shutdown however were slow to react to the news with west texas sour and alaska north slope holding 50 cts to one dlr a barrel below wti respectively
israel has drawn up a five year plan for 1987 1991 to raise agricultural production by 500 mln dlrs to 27 billion dlrs an annual rise of 34 pct the israeli ministry of agriculture said
dart group corp said it has raised its offer to acquire supermarkets general corp to 4200 dlrs in cash and three dlrs in exchangeable preferred stock per supermarkets general share from 4175 dlrs per share in cash
sen
communications satellite corp cq 1st qtr net
delegates and traders said they expected the manager juergen plambeck to intervene in the market within three weeks of the pact coming into force
in austria it was warm with some rainfall which was favourable for beet growth licht said
purolator today declined comment on the emery offer and its chairman nicholas brady did not return a phone call
to solve these problems and to reduce farm product prices to more reasonable levels japan should try to restructure the the agricultural sector to improve productivity and make it self supporting it said
the surprise escalation of attacks on oil installations broke more than a month long lull in iraqi air force action
but analyst michael lucky of shearson lehman brothers inc said us car sales will weaken and gms new products if successful will only slow but not halt the erosion of its market share
brazil wants to resume interest payments on its medium and long term foreign debt as soon as possible and is willing to discuss ways of softening the impact of the payments suspension on bank earnings central bank governor francisco gros said
but the banks rejected the pins proposal in its original form fearing regulatory and accounting problems
southern texas grain differentials adjusted
chesapeake csk seeks to sell unit
mark iv industries inc iv 4th qtr feb 28 net
spot prices have fallen in recent weeks to more than one dlr below opec levels
president jose sarneys government despatched troops to brazils ports and oil installations on tuesday
two years ago i began to seek my own farmland in japan said isao nakamura president of higashi nippon
some 350000 dlrs is payable immediately 12 mln dlrs payable on completion with the balance due by june 30 1987
nbc news says us has retaliated against iran
year net includes pretax lifo inventory charge 600000 dlrs vs credit 900000 dlrs tax rate 406 pct vs 320 pct due to impact of tax reform act of 1986
pcr makes high performance materials for a variety of industries
worldwide the associations monthly survey showed that seismic exploration for oil and gas increased to 395 in february up three from the month before
official estimates put chinas 1986 export losses from the drop in world oil prices at three billion dlrs
there had been misunderstandings between the government and the oil industry in certain areas such as when a field is designated commercial and a thorough evaluation was being made
the paris accord also brought a pause to the continued slide of the dollar engineered by a meeting in new york in september 1985 when industrial nations agreed to depress the value of the currency to help redress global trade imbalances
funds averaged six pct on friday
egypt and the soviet union are expected to sign an agreement in moscow next week settling cairos three billion dlr military debt egyptian officials said
jm said all of its directors except jack e
soviet tankers set to carry kuwaiti oil
smaller gaf in 1986 earned on an operating basis 807 mln dlrs or 222 dlrs per share on sales of 7538 mln dlrs
shearson said the nickel market will be virtually in balance during 1987 with total non socialist world demand at 556000 tonnes compared with an estimated 544000 tonnes in 1986 production at 505000 tonnes 504000 and imports from socialist countries at 47000 tonnes 50000 it forecast prices will edge higher during the year from a first quarter average of 167 dlrs a lb up to 177 dlrs in the last quarter
according to terms hmos shareholders would receive a combination of cash and debt securities to be issued by the buyer in exchange for their outstanding shares of common and preferred stock it said
safecard services inc said its board declared a three for two stock split and is maintaining the quarterly dividend on post split shares at the same six cts it now pays for an effective 50 pct increase
the company said shareholders of michigan sealy will receive a total of 486 mln dlrs subject to adjustment from the acquisition and the settlement both of which are subject to regulatory approvals
shr four cts vs 21 cts net 29862 vs 152826 note full name is united financial banking cos inc
brazils state oil company petrobras has cancelled a 40 mln dlr crude oil purchase from saudi arabia after the saudis refused to accept credit guarantees from the bank of brazil and did not disclose reasons a petrobras official said
although the intervention was widespread dealers perceive that the six major industrial nations have differing levels of commitment to their recent accord to stabilize currencies
the company said the airport is expected to be the largest construction project in the country for the rest of the century
commerzbank sees lower operating profit this year
oper shr loss 11 cts vs loss 14 cts oper net loss 1963000 vs loss 2199000 revs 175 mln vs 409 mln year oper shr profit nine cts vs profit two cts oper net profit 1555000 vs 456000 revs 863 mln vs 1437 mln note net excludes extraordinary tax charges of 115000 dlrs vs 995000 dlrs in quarter and credits 8096000 dlrs vs 1173000 dlrs in year
held said that in conversations with portfolio managers last week there appeared to be increasing belief that the rate rise had just begun and that yields could approach nine pct by midyear
brazil treasury to release coffee buying funds
the arranger is lloyds merchant bank ltd and dealers are lloyds samuel montagu and co ltd morgan grenfell and co ltd and sg warburg and co ltd
mts said marine midland banks inc mm has committed to lend it 100 mln dlrs for the acquisition and use its best efforts to syndicate another 400 mln dlrs in senior financing for the transaction
weak us economic growth could hurt the dollar which has become more important to the direction of debt futures than the beneficial impact on interest rates of a sluggish economy
kenneth morrison staff associate at the government accountability project said inspectors consistently disclose violations of federal law demonstrating a serious breakdown in the entire inspection system morrison told of chicken fat for flavoring being contaminated by intestines dragging in a water trough used to flush away the condemned product fecal material human spit chewing gum and paper towels used by plant employees to blow their noses donald houston administrator of the us agriculture departments food safety and inspection service fsis defended the governments program calling it one of the most respected public health programs in the world fsis inspects an estimated 127 mln head of cattle and 45 billion chicken and turkeys every year
next week mississippi river st louis 120 pct bid 127 1 2 offered up five points
commenting on the two week statement period that ended on april 8 the fed said banks had average net free reserves of 447 mln dlrs
norways 222 pct share of the murchison field which like statfjord extends into the british sector yielded 15388 bpd in september a slight 920 bpd decrease from the previous month norwegian partners on the british operated field said
he told by telephone from brasilia that the meeting involving brazil colombia and central american coffee producers will be strictly to review the coffee market situation
licht sees stagnant european beet area
the aid program will inject about 350 mln dlrs a year into the oil and gas industry and could lead to more than one billion dlrs in new investment masse told a news conference
the company named allen and co inc as lead manager and merrill lynch capital markets and salomon brothers inc as co managers of the offerings
ccc accepts bonus bid on cattle for egypt usda
democratic senator barbara mikulski of maryland told baker at the senate appropriations subcommittee hearing many say the banks are financing competition for american jobs she recommended that the united states use its participation in debt forgiveness for developing country loans as a wedge to open markets to us goods
in a speech at the state opening of parliament moi said high coffee prices and cheap oil in 1986 led to economic growth of five pct compared with 41 pct in 1985
the 1986 effective loan rate is 456 dlrs because of the 43 pct gramm rudman budget cut
skorea says japan complains to gatt on trade plan
in the mediterranean netback values were up 17 cts to 22 cts a barrel with arab light up 17 cts a barrel to 1862 dlrs a 09 pct increase from the previous friday and urals were up 22 cts a barrel to 1916 dlrs a 12 pct increase
leading domestic semiconductor makers will boost imports and cut production of key memory microchips next month in an attempt to help ward off us trade sanctions company spokesmen said
the rise in oil prices in late 1986 had little impact on the companys fuel oil bill last year as aviation fuel prices usually lag behind crude price movements by several months analysts said
taiwan is scheduled to tender tonight for 450000 to 475000 tonnes us corn export sources said
the new china news agency quoted the bureau as saying foreign trade totalled 93 billion dlrs in the period of which exports were worth 43 billion dlrs
the credits would go to the installation of a fifth production line in venalum one of three state aluminum companies which produces primarily for the export market
the purpose they said is to review the breakdown of international coffee organization quota talks last month and try to formulate a unified position ahead of possible future negotiations
partial indicators released since the last meeting of epac in december indicate that the 1986 87 budget strategy is broadly on track keating said
schlesinger was responding to questions following remarks yesterday by bundesbank board member claus koehler and west berlin state central bank president dieter hiss which dealers said revived some speculation that german interest rate cuts may once again be under discussion
hoechst attributed the 12 pct rise in parent company pretax profits to 182 billion marks above all to a rise in earnings from interest and holdings in other companies and a fall in extraordinary costs
brazilian newspapers highlighted his absence and reported that several of the 24 businessmen present seized the opportunity to tell sarney they would like to see funaro leave his job
south koreas trade surplus with the us rose to 71 billion dlrs last year from 43 billion in 1985
the unilateral boycott proposed by norways minority labour government gives domestic companies until late september to cut remaining trade ties with south africa and namibia
s
he rejected suggestions the korean won is undervalued and denied any plans for a drastic and sudden revaluation
japan economy may start bottoming out soon agency
the decision by the cement makers federation to end the pricing agreement reflected pressure from higher competition due to growing imports and the possibility that the system would be taken to the restrictive practices court by the uk government
an orders decline in the steel and in particular the trading and services sectors affected the groups total order figures
british printing also charged harcourt is unlawfully coercing debenture holders to convert denbentures before the record date because harcourt may not have enough authorized common shares to honor conversion after the date
trans world airlines inc sold four mln shares it held in usair group inc wall street sources said
growth in domestic demand will fuel imports expected to increase by 86 pct against an originally estimated 71 pct
treasury secretary james baker said he stood by the paris agreement among leading industrial nations to foster exchange rate stability around current levels
the banks net capital exports climbed to 54 billion francs from 51 billion in 1985 while capital exports by domestic non banks fell to 50 billion from 91 billion
it said investor response to the offer has been favorable but a higher exchange level is needed if the company is to meet its 90 pct acceptance level
the highest number of working rigs was 4500 in december 1981
freeport mcmoran resource lp frp qtly payout
he said government measures to deal with the problem dealt with trifles rather than the essentials
however fulwider said the company would have nothing to say at this time about soros disclosure that he may buy up enough additional fairchild shares to hold as much as 499 pct of the companys outstanding stock
moodys investors service inc said it is reviewing the long term debt ratings of ford motor co and ford motor credit co for possible upgrade
heldor industries hldr 1st qtr loss
last years imports were 253 billion dlrs against 181 billion dlrs in 1985
the agreement was announced in february and gould expects the transaction to be completed by the end of april
opec crude oil output in the first few days of march was running at about 147 mln bpd down from a 16 mln bpd average for february and well below the 158 mln bpd ceiling the group adopted in december a survey shows
general acquisition repeated its request that gencorp remove its poison pill or shareholders rights plan
shr loss 39 cts vs loss 483 dlrs net 163 mln vs loss 2230 mln revs 474 mln vs 307 mln nine mths shr loss 337 dlrs vs loss 730 dlrs net loss 1516 mln vs loss 3403 mln revs 1189 mln vs 1618 ml note 1987 qtr includes loss 1500000 dlrs for mobilization costs associated with two offshore drilling rigs
other grants will be announced shortly the government said
she said canada us bilateral trade negotiations which must be concluded at least in draft form by october are progressing well
a central bank spokesman said emanuel was referring to payments owed private foreign banks already suspended since january
shr 10 cts vs five cts net 512000 vs 230000 revs 168 mln vs 9025000 year shr 55 cts vs 34 cts net 2662000 vs 1541000 revs 575 mln vs 323 mln
extra tax allowances for people whose children are being educated would cut 300 mln marks from the tax bill
the two for one stock split will increase fleets currently 257 mln outstanding shares to 515 shares
osaka based sumitomo with desposits of around 239 trillion yen merged with heiwa sogo a small struggling bank with an estimated 129 billion dlrs in unrecoverable loans in october
a capel cure official told reporters the elimination of commissions has made the market more competitive
japanese securities houses also may allow foreign brokers to underwrite more 10 year bonds from april
marathon petroleum co said it reduced the contract price it will pay for all grades of crude oil one dlr a barrel effective today
intl rectifier irf debt downgraded by s p
louvem said the option to buy the 31 mln shares would be valid until december 15 at a purchase price of 315 dlrs a share
north bh sets one for five offer for norgold float
california energy co inc said drexel burnham lambert inc is highly confident it can provide the company with 160 mln dlrs of private financing subject to certain conditions
the company said the stock split is subject to approval by its shareholders at its upcoming annual meeting
the 1987 budget deficit is some 29 billion guilders and early repayments on state loans are estimated at 13 billion
baker said the new terms that hughes proposed for the merger as an alternative to the consent decree were more burdensome than those of the consent decree themselves
transamericans bankruptcy proceedings began in 1983
trizec said it will file a preliminary short form prospectus on the issue with securities commissions across canada
last weeks high export levels appeared to show continued support for official opec prices from saudi arabias main crude customers the four ex partners of aramco the sources said
viceroy resource corp said recent drilling on the lesley ann deposit extended the high grade mineralization over a width of 600 feet
money seems to be chasing yields william byers of bear stearns said of the 10 1 2 pct uk base lending rate
rowland
kurz kasch ups stake in component tech ctec 
the other two have been in business for two years
it seems to me that this is the bundesbank beating quite a significant retreat from its position added giles keating economist at credit suisse first boston ltd in london
s p may downgrade 66 billion dlrs of chrysler debt due to planned amc purchase
the company paid a quarterly dividend of one dlr a share earlier this month
the bills are meant to soak up a projected money market surplus due largely to coupon and principle payments of a previously issued japanese national railways bond
since only banks can buy another bank the only other possible acquirors would be a foreign bank alpert said
the companys aviation division consists of its majority stake in cathay pacific airways ltd and its 25 pct interest in hongkong aircraft engineering co ltd which is also 25 pct owned by cathay
welbilt welb completes acquisitions
share earnings for both periods reflect preferred stock dividends
woodside said the rise in revenue largely reflected full year sales of gas and condensate from the domestic phase of the shelf project against six month sales in 1985
an epa official told the dollar could fall to slightly below 100 yen by 1993 if japan and the us failed to restructure their economies
spectramed inc spmdo 3rd qtr net
thats going to prove very very instrumental in increasing volume over time he said predicting the increase would come within a year
he said talks with cable amp wireless will continue this week
ivory coast minister delayed for cocoa talks
shr 16 cts vs 35 cts net 476000 vs 929000 revs 3000000 vs 3600000
we are interested in more periodic ministerial involvement whether in formal or informal meetings he said
ames add names new chief financial officer
cml group inc cmli 2nd qtr jan 31 net
shr loss five cts vs profit 36 cts net loss 784000 vs profit 4793000 revs 90 mln vs 79 mln year shr profit 27 cts vs profit 65 cts net profit 4010000 vs profit 8539000 revs 273 mln vs 214 mln
the companys outstanding securities are rated aa minus by standard and poors corp
blasius industries inc blas 3rd qtr loss
cb and t bancshares inc said it has completed the acquisition of first community bancshares inc of tifton ga which as assets of 62 mln dlrs
gebrueder sulzer 1986 profit up almost 60 pct
rules governing buffer stock operations were agreed last month by the icco council
revising the definition of sample grade for wheat by adding a limit of 32 insect damaged kernels per 100 grams of wheat
the panel this week winnowed through the list of the some 20 products and sent their recommendations yesterday to santa barbara where reagan is vacationing
azzam said capital market instruments should be made available to all citizens and institutions of gulf cooperation council gcc states bahrain kuwait qatar oman saudi arabia and the united arab emirates uae some moves had been taken in this direction with bahrain allowing gcc nationals to own up to 25 pct of locally incorporated companies
shareholders of datron will be asked to approve the plan at their annual meeting to be held in june or july and the merger is expected to be completed by july 31 it said
it said sorghum acreage in 1987 is six pct lower than in 1986
us retailers posted stronger than expected sales in february but not enough to prompt analysts to change their expectations of sluggish sales growth for the first half of 1987
the accord does not solve all our problems he added
but real growth in consumption will ease next year
the new prices are 72 cents a lb for ingot and 80 cents for extrusion billet the company said
he also said a price freeze would be imposed on 20 basic consumer items mainly food staples while the price of gasoline would rise by between 69 and 80 pct and bus fares would rise by 20 pct
the bank of england said it had not operated in the money market during the morning session
the press reports said this could be raised to 50 pct equal to the largest share of any japanese firm
french finance minister edouard balladur said the group of seven g 7 industrial countries should respect pledges on monetary policy made in the february louvre accord on currency stability
swiss february trade deficit 6297 mln francs
chevron corp said its chevron usa inc unit and tokyo based nippon oil co ltd agreed to conduct a joint venture oil exploration and development program on selected chevron leaseholds in the united states
certificates are an integral part of usdas long range market oriented farm policy he said
the adjustment process in the us trade balance is definitely underway he said noting that this was not so noticeable in absolute figures
quaker oats oat sells vernells fine candies
rising water levels on the rhine caused by heavy rain are delaying an operation near karlsruhe to raise two sunken boats which have blocked the rivers main navigation channel since early last week a karlsruhe water authority spokesman said
in todays statement societe generale gave no figures for extraordinary gains
ecuador had also publicly stated it was over its quota but an earthquake early this month stopped that
uk interest rates look set to move lower even after mondays half point cut in bank base rates to 10 1 2 pct analysts said citing as evidence the suspension of a british national savings issue yesterday
costa rica has agreed to sell more than 32000 tonnes of sugar this year to the soviet union a spokesman for local producers said
of the total 400 billion yen will yield 38502 pct on sales from money houses to banks and securities houses in a 41 day repurchase accord maturing on may 19
bolt beranek and newman inc said it filed with the securities and exchange commission a registration statement covering a 75 mln dlr issue of convertible subordinated debentures due 2012
pechiney said in a statement one accord was to set up joint ventures manufacturing aluminium packaging for food and cosmetics while another was to produce machinery to manufacture packaging
the company today reported a profit for the first half ended january 31 of 105013 dlrs compared with a year earlier loss of 745641 dlrs on sales of 3661565 dlrs up from 2810132 dlrs
net shr 76 cents vs 30 int div 30 cents vs nil net 1693 mln vs 547 mln sales 16014 mln vs 235 mln
travelers realty income triiso 3rd qtr net
the marketing year for corn began september 1 it said
the normal daily limits will be reinstated once the first two limited deliveries close by less than the normal limit for two successive trading days
nova an alberta corp chief executive robert blair expressed hope that dome petroleum ltd dmp remains under canadian ownership but added that his company plans no bid of its own for debt troubled dome
the final purchase price expected to be between seven mln and 75 mln dlrs will be based on an exchange of common stock valued at 15 times the book value of first federal as of the march 31 closing date the company said
but the second half year should be better he added
developing countries exports declined significantly while their imports increased moderately although full statistics are not available yet gatt said
exercise period for the warrants will run from april 22 1987 until march 17 1989
the rest is owned by german and swiss shareholders
exploration is currently pretty flat
the oil worth about 10 mln us dlrs will be shipped by december this year they added but did not say what bangladesh would sell in return to the soviet union
detroit edison also said because of a decision to modify fermis reheating apparatus the company has set back the schedule for the plants commercial operation run to early june from may one
fn provides loan collection accounting data processing and administrative services to the real estate industry
louisiana pacific corp said it plans to sell its sawmill in lakeview oregon and 18000 acres of timberland to ostrander construction co
however other economists disagreed saying the service sector would be able to hire workers no longer needed by the manufacturing sector over the next five years
they would then stock it up at the next tender when the need is clearer he added
the bond is available in denominations of two mln lire and will be listed in london
oper shr 45 cts vs 26 cts oper net 2258000 vs 1166000 note 1986 net excludes 842000 dlr tax credit
his holdings are also under sequestration
he said an increased depletion allowance to 275 pct on new and enhanced production of oil and natural gas would be a cheap way to spur domestic production
dan glickman d kan chairman of the house grains subcommittee has introduced a bill which would freeze wheat and corn loan rates for the 1988 crop at the current 228 dlrs and 192 dlrs respectively saying it would save 500 mln dlrs
the company named drexel burnham lambert inc as sole underwriter of the offering
ronald tappmeyer president of the international association of drilling contractors said the members of our trade asssociation are convinced that only a variable oil import fee that sets a minimum price trigger can protect our nation the association represents some 1300 drilling and oil service companies
they said the continental grain co of the united states won the contract to supply the wheat from the ec and other parts of europe
we are resuming what we did best for years an offensive position he said
dome petroleum ltd earlier reporting a 220 billion dlr 1986 loss compared to year earlier profit of 70 mln dlrs said the loss was mainly due to write downs totalling 2084 billion dlrs before a reduction in deferred income taxes of 571 mln dlrs
metallgesellschaft ag metgf 
speaking to the presidents export council an industry advisory group baldrige said the trade deficit issue was under discussion with those countries
jorge luis leao franco a senior official of the national merchant marine union told he was optimistic the talks would lead to an end of the stoppage which began last friday
it had 165 mln outstanding prior to the offering
soviet minister says trade boost up to french
a parliamentary motion signed by 98 mps today urged the uk government to coordinate action with the president of the united states and through the department of trade and industry to suspend all further applications from japanese communications companies for equipment approval by the british approvals board for telecommunications and all further applications from japanese financial institutions for licences until authorities in japan stopped imposing what the mps called restrictive conditions on the bid by cable and wireless plc cawll and its us and japanese partners for a stake in japans international telecommunications market
quaker oats co said keystone partners inc has purchased vernells fine candies inc previously an indirect subsidiary of quaker
the unfiltered index however fell 01 pct in january after rising 10 pct in december
he also called the case strange but he stopped short of endorsing japanese newspaper accusations that oki had been trapped into making the sales
1985 net includes gain 4800009 dlrs from reversl of recapture taxes
swedish industrial production rises sharply
the new link will connect lago agrio to puerto colon in colombia the starting point of columbias pipeline to the pacific ocean port of temuco
it compares with 19 pct growth in 1985 and 67 pct in 1984
italys overall balance of payments showed a 919 billion lire surplus in september against a deficit of 1026 billion in august provisional bank of italy figures showed
compared with the year earlier quarter gdp also rose 11 pct the bureau figures show
the company said that its 1986 performance was best reflected by earnings after writeoffs which rose to 310 mln from 221 mln in 1985
the company said a newly incorporated merchant banking subsidiary of greyvest financial corp has agreed to purchase the debenture issue and closing is expected in april
it holds reserves of about 176 mln barrels of crude oil and 39 billion cubic feet of natural gas
local and foreign bankers said the june 2 measures had drastically limited their ability to lend foreign exchange to importers and exporters
the company said the opinion is the result of ongoing litigation over its discontinued operations
seton said the acquisition bid is subject to kaltenbacher arranging the necessary financing
the current soybean loan rate effectively is 456 dlrs per bushel with no income protection or marketing loan
mandatory production controls debated at apc
he said australias concerns centred on coal and beef australias two largest exports to japan and also significant us exports to that country
the company said elex produces electrostatic precipitators used in air pollution control
bankers trust issuing stg dlr currency warrants
the issue is guaranteed by france and will have a 50 mln ecu tap exercisable for six months
period ended january 31 shr 61 cts vs 64 cts shr diluted 60 cts vs 60 cts net 965 mln vs 870 mln loans 4487 billion vs 4807 billion deposits 6986 billion vs 6845 billion assets 8392 billion vs 7893 billion note shr after preferred dividends
in addition bankers balances above target will add some 20 mln stg to the system today
short term lending rates now average 25 pct a year with no prospect they will be lowered soon the bankers said
they have to buy the securities in the secondary market bond traders said many corporates rose well above par in the secondary market this year
american federal savings and loan association of colorado said its board cut the quarterly dividend to 7 1 2 cts per share from 15 cts
combined with a net psbr repayment of about 300 mln stg the public sector contribution to the growth in sterling m3 was therefore about flat the bank said
pesch last week sweetened his bid for the company to 22 dlrs a share in cash and securties or 191 billion dlrs based on amis total outstanding from an all cash 20 dlr a share bid which the company rejected
london freight market features ussr timecharters
the tanker disposals include japan orchid 231722 dwt japan lupinus 233641 dwt sovereign 233313 dwt rosebay 274531 dwt saffron 268038 dwt and cattleya 267807 dwt all of which have been reported on the london sale and purchase market they said but refused to give further details
centel cnt sees lower first qtr profits
gross farm product rose 43 pct compared with rises of 26 pct in the third quarter and 28 pct a year earlier making annual growth of 66 pct
the buffer stock manager will accept offers for different origin cocoas according to a sliding scale of price differentials under which ghana cocoa will be pegged at a 137 stg premium to malaysian
but not all bankers are convinced
forum four ends beverly bev purchase deal
most economists said the fed will add 15 to two billion dlrs of temporary reserves via customer repurchase agreements but some said there is a slim chance the fed will inject permanent reserves via three day system repurchase agreements
the company said part of the agreement includes payment of up to an additional 65 mln dlrs based on the performance of the unit in the year following the closing
the notes have an 11 5 8 pct coupon and were priced at 9950 salomon said
comalco said the aluminium industry continues to suffer from low prices and excess capacity though the weak australian dollar had helped earnings
live cattle futures posted a robust rally today after a major beef packing company said it would end a lockout at its slaughtering plant in dakota city neb
underwriters said 22 firms bid for them far more than the number of managers who typically bid for corporate debt as wall street houses are trying to boost their share of the young taxable municipal debt market
purchases from non members will be limited to 15 pct of the total and buying or selling operations in any one day will be restricted to a maximum of 40 pct each for nearby intermediate and forward positions he said
telco telc delays defensive rights offering
under terms of the transaction the present directors of mountain view have resigned and have elected directors of maratech as new directors of mountain view
pork delegates vote on farm bill farm credit
india will get 10465 mln stg as grants from britain to develop its coal zinc and lead industries the british information services said in a statement
cri insured mortgage investments inc said its advisor will recommend a special distribution of 50 cts per share due to the sale of a federally insured first mortgage on park meadows i in madison wis for 4267871 dlrs
expiration dates on upland cotton certificates issued under the 1986 upland cotton program are being extended the agriculture department announced
the issue for five ounces at 425 dlrs was priced at 955 swiss francs making a premium over the spot gold price of nearly 36 pct
jacobs sells stake in gillette gs 
he predicted that prices would recover again in the third and fourth quarters of 1987
debt among african countries will continue to grow and their economies will remain stifled unless developed countries lower their interest rates nigerian trade minister samaila mamman said today
that doesnt do a thing for us lyng said
japan minister says about 170 yen appropriate
based on the estimate the trust said there may be no money available for cash distributions to unitholders for the remainder of the year
earlier the bank estimated a surplus of around 250 mln stg in the system today
us agriculture undersecretary dan amstutz indicated the united states is willing talk with the soviet union about the competitiveness of us wheat prices but would not discuss making us wheat prices cheap there sometimes is a difference between being competitive and being cheap amstutz told a senate agriculture appropriations hearing
federal funds were trading at 6 3 16 pct when the fed announced the operation
the latest gold price in zurich was 2045 2070 francs per 100 grammes
the government has confirmed that growth was negative in the first 1987 quarter
the combined export earnings of 16 major indebted nations were sharply lower and only five of them chile colombia philippines south korea and thailand had higher exports
brown and sons inc
the issue is guaranteed by hokuriku bank ltd
china has options not easily available in western countries
the strong yen appreciation has cost china dearly and is likely to make it reduce new yen borrowings the banker said
however other analysts speculated the managements of piedmont and usair would not tolerate icahn as head of a new company
the south african central bank said in its quarterly bulletin that confidence in the economy improved from january to may 31 because of the higher gold price a rise in the nations gold and foreign currency reserves and an improvement in the rands exchange rate to just under 50 us cents
the stance taken by the experts backs up the official position of the west german government ahead of next weeks seven nation summit in venice where bonn is expected to be pressed by the us and other partners to boost its economy
the bp official also said the 70 dlr bid is a 40 pct premium over standards stock price over the past year
prices had been unchanged in january giving an annual drop of 46 pct
about 20000 miners or two thirds of the working force have been laid off through the governments decision to streamline the deficit ridden state corporation following a collapse in the international tin price
us officials in washington and malaysian officials in kuala lumpur expressed a policy of looking at each commodity pact case by case
us at un claims self defense for gulf attack
alc communications corp said that because of strong traffic growth and cost reductions it anticipates reporting a profit for the first quarter of 1987 versus a loss of 14 mln dlrs or 15 cts a share for the first quarter of 1986
the parachute creek oil shale plant produces about 4000 to 5000 barrels per day of crude shale oil unocal said
mischer corp mshr 4th qtr loss
sawmill equipment and skidder operations were affected by a strike in british columbia and the extended debate on us imports of canadian lumber but there were encouraging signs at yearend the company said
banks must make their bids by 1000 gmt tomorrow and funds allocated will be credited to accounts on wednesday
the maximum rebate at yesterdays tender was 46864 ecus per 100 kilos up from 45678 ecus the previous week
some consumers said the mood of the meeting seemed slightly more optimistic
china seen unlikely to raise sugar imports
some investors who have inco may suddenly say well because its not now a dow stock we should eliminate that investment said martens although he added the move was unlikely to have a serious long term impact on inco stock
piedmonts largest shareholder and other suitor norfolk southern corp nsc has offered 65 dlrs per share for the company
the six month 40 pct ceiling expires april 6 but the banks want it extended for six more months
community bank cbsi to make acquisition
14 the day after a contract between ibp and local 222 of the united food and commercial workers union expired
greycoat group seeks two financings
ibrahim buhindi of the saudi national commercial bank in bahrain and imad bata of finance and credit corp of jordan were elected secretary and treasurer respectively
the additional guarantees increase the vegetable protein meal credit line to 160 mln dlrs and increases the cumulative fiscal year 1987 program for agricultural products to 230 mln dlrs from 150 mln it said
british airports authority plc which will be privatised later this year is seeking a 200 mln stg multiple option facility banking sources said
kim told reporters the excessively fast rise in exports could make south korea too reliant on exports increase 27nflation and produce trade friction
oak industries inc oak 4th qtr loss
the current practice of filing tax redemption claims is time consuming they said
market sentiment has reflected optimism i wouldt put it any stronger than that ward said
fiat spa fiatmi is considering issuing a eurobond of up to 384 mln dlrs convertible or with warrants attached for exercise into its shares still with banks after the placement of the libyan stake last autumn the financial daily handelsblatt reported quoting bourse sources
the statement also said mozambiques limited debt service capacity made borrowing from the international monetary fund in the upper credit tranches inappropriate no details were available from the countries embassies nor from the club on the amounts involved but last week the ugandan finance minister chrispus kiyonga said he was hoping for a rescheduling of 120 mln dlrs
shr loss 14 cts vs loss 35 cts net loss 3718908 vs loss 6714372 revs 228 mln vs 144 mln avg shrs 257 mln vs 192 mln nine mths shr loss 102 dlrs vs loss 146 dlrs net loss 244 mln vs loss 281 mln revs 617 mln vs 289 mln avg shrs 238 mln vs 192 mln
the prepayments were on a 925 mln dlr nine year loan signed in 1985 which carried a four year grace period
utilicorp ucu seeks to split stock
gaf said a revised offer by the group is still possible
lower volume translates into higher costs according to the companys 1986 annual report growmark owns 90 pct of the preferred shares and four pct of the common shares of illinois cooperative futures co
uk feb trade deficit 224 mln stg vs deficit 527 mln in jan official
nakasone wants to go armed with two separate packages one designed to pep up japans sagging economy and imports in the short term the other to redirect the country in the medium term away from its over dependence on exports for growth
only 13 hours after the statements were released the bundesbank reduced short term interest rates by offering banks liquidity at a fixed bid rate of 380 pct down from a 385 pct facility rate offered last week
the federal government took up nearly 10 billion marks of the fourth quarter 1986 figures and also drew on two billion marks of bundesbank advances at the end of the year when it had not required such a credit in the 1985 quarter
another senior morgan grenfell executive geoffrey collier resigned late last year on allegations of trading on insider information
union carbide uk says long term debt rises
vms mortgage investors lp ii said it raised its first quarter 1987 cash dividend to 21 cts from 20 cts the prior quarter payable may 14 1987 to shareholders of record april one 1987
canadas current account deficit widened to a seasonally adjusted 227 billion dlrs in the fourth quarter from a deficit of 194 billion dlrs in the third statistics canada said
capital food provides food services to several ottawa institutions the company said
the customs bureau last week started to levy a bond on the japanese goods that reagan ordered penalized
south africa this year is targeting inflation adjusted growth in gdp of three pct against an increase last year of less than one pct
x 1986 rates
the selling concession is 1 1 8 pct while management and underwriting combined pays 5 8 pct
the other arranger dealer is svenska handelsbanken plc
cereals mcas to be unchanged next week
the wheat flour purchases complete the export enhancement program initiative announced in april 1986 it said
no details of the discussions here were immediately available
factory and warehouse stocks continued 02 28 87 01 31 87 02 28 86 corn oils crude 325 323 r 442 refined 658 544 r 399 total 983 867 r 841 lard 314 315 r 364 r revised
the midam also offers smaller sized futures and options on currencies precious metals grains and livestock
the transfer was arranged because there were no bids to buy beaver creek the fdic said
trans world airlines said it told the securities and exchange commission it does not intend to seek control of usair group or to acquire more of its stock at this time
the dollar opened lower against virtually all currencies and traded in a narrow range after the communique which reaffirmed support for the paris accord on currency stabilisation but contained no moves to strengthen it
presidential realty corp pdo annual net
copa president hans kjeldsen told a news conference on tuesday he had also urged ministers to seek a similar mechanism for cereal substitutes
1986 qtr and nine mths includes gain 105000 dlrs or one cent per share and 342000 dlrs or three cts per share respectively from realized gains on investments
exports are forecast to rise to 720000 tonnes against 695000 tonnes in 1986 the report added
metromail mtma predicts flat earnings
they also said swire will have an extraordinary gain of about 138 billion dlrs from the flotation of its cathay pacific airways ltd caphhkg unit last may
belgium plans to issue swiss franc warrants to buy gold with credit suisse as lead manager market sources said
dai ichi hotel swiss franc notes coupon cut
the alcoa of australia ltd is planning a 100 mln australian dlr note issuance facility lead manager westpac finance asia ltd said
that fear has no basis in fact byrd said
trade sources said it was certain crops were damaged by the heavy rains but it was too early to tell the exact extent of the damage
there will be no layoffs associated with the refinery maintenance she added
moodys said it is evaluating the ability of graces less diversified business portfolio to generate funds sufficient for reinvestment and growth along with debt service and repayment in the next three to five years
the bank said in a statement that from april 2 banks bidding for foreign exchange would have to pay at the rate they offered and not as presently at the rate of the lowest successful bid made at the auction
the 50 mln dlrs approved for a southern africa initiative is part of a larger programme promised by the reagan administration last year when it tried unsuccessfully to block sanctions approved by congress against south africas white minority government
bankers said the bundesbank was angered by the way the finance ministry announced the plan without consulting the bundesbank adequately and allowing apparently conflicting details to dribble out into an unprepared and uncertain market
major holdings are likely to be held by the two largest creditor banks standard chartered bank stchl and oversea chinese banking corp ltd ocbmsi they added
the department previously said the index rose 21 pct in december
trade surplus will pose added pressures for japan
entertaiment said it has requested an early meeting with crazy eddie incs board and that it has committed 50 mln dlrs toward the purchase of the shares including those already purchased
the bank gave no details of the interest rates and other terms for the loans
amax amx in gold silver find
european markets react quietly to g 7 communique
diamond shamrock said it raised its posted prices for all grades of crude oil one dlr a barrel effective yesterday
uk reserves show underlying rise in february
chrysler c unit buys beneficial bnl unit
perus debt obligations hit 63 billion dlrs in 1987
credit foncier de france said it will issue on wednesday around 500 mln francs worth of specialised financial institution bonds bifs this second issue of eight pct bifs maturing on december 23 1993 are identical to the 535 mln franc issue of bonds issued last month
he made clear that he was not making a forecast on interest rates however
minas gerais state guaxupe 330 millimetres tres pontas 50 mm
icco group looks at cocoa buffer stock rule plan
we do plan to cover the costs by selling philippine investment notes pins worth about 150 mln dlrs a year pins are negotiable foreign currency denominated instruments that will be offered to creditor banks and are designed for conversion into pesos to fund government approved equity investments within the philippines
growth rates will pick up later however producing a 22 pct increase on average for the five year period
the wheat flour is for delivery may 15 june 15 1987 the department said
shr 22 cts vs 20 cts net 4033000 vs 3398000 sales 1253 mln vs 991 mln avg shrs 184 mln vs 175 mln nine mths shr 89 cts vs 78 cts net 159 mln vs 136 mln sales 4137 mln vs 3450 mln avg shrs 178 mln vs 175 mln note1987 3rd qtr per share reflects issuance of two mln shares in initial public offering
it advised the saudis the company would negotiate oil purchases elsewhere unless they changed their mind by monday
the southerners goal of including agricultural and tropical products also was met
malrite guaranteed broadcast partners lp said it bought wtrk inc from cox enterprises inc for 138 mln dlrs in cash
spethmann also categorically denied a magazine article published this week which spoke of a dispute between him and heinz kriwet management board chairman of thyssen stahl ag over planned job cuts in steel plants in the ruhr area
irving estimates full year net would be reduced by 153 mln dlrs after tax if no cash interest payments are received on these loans during the remainder of 1987
allis chalmers carries b minus senior debt and c rated preferred stock
capital repayments totalled two mln dlrs
bryson has request detailed shareholder information from cenergy in case it decided to communicate with shareholders
proposed dividend four crowns vs 338
furthermore we still have the april 1986 highs to contend with which in the nearby contract is 105 15 32
fed adds reserves via customer repurchases
it added this will considerably reduce future income taxes in canada and add to wainocos net income and cash flow for a number of years
he said treasury bill maturities interest rate levels and the volume of government securities sold to the private sector have improved significantly
the economic costs of a preventive stability policy are less than fighting inflation once it has taken hold they said
the company was set up last year by three major danish livestock cooperative federations to expand markets for their dairy products a mitsubishi official said
advanced said it had suspended merger talks with other parties as a result of the exclusivity agreement
the gain was made possible in part by the refinancing of 1619 mln dollars of foreign debt
usacafes lp usf 3rd qtr net
reduce the budget deficit volcker responded when asked by a member of the senate banking committee about trade legislation priorities
also under the plan the us would seek a world market sharing cartel with the european community and other exporting nations to share out export markets harkin said during the first of several senate agriculture subcommittee hearings examining farm programs
natural gas will have the opportunity to become an increasingly important part of the worlkds energy supply mcivor said
kawasaki steel international finance plc is issuing a stepped coupon 30 mln dlr eurobond due march 26 1994 priced at 101 7 8 pct lead manager wako international europe ltd said
the number of seismic crews searching for oil and gas in the united states dropped by nine to a total of 151 crews a decrease of six pct from january the society of exploration geophysicists said
this was a remarkable change in attitude especially on the part of our american colleagues he said
engineering measurements co said it formed a general partnership with several external investment groups in which the company will have a 585 pct interest and be managing partner
the paris accord has pretty much fixed where major european currencies will trade horner said
the fed said that business loans including acceptances fell 971 mln dlrs to 28022 billion dlrs
defence secretary caspar weinberger has ordered the us navy to increase its presence near the gulf in an effort to fulfil president reagans pledge to keep oil flowing to europe and japan the new york times reported
it said the new common stock will begin trading april 8 under the symbol sptnd separately spartech said its board appointed bradley buechler as president filling a vacancy
bhp sees strong fourth quarter but lower year net
petro canada which will act as operator of the two wells has a 75 pct interest in the western portion of graven block of the terra nova field and a 26 pct interest in the fields east flank block a company spokesman said later
the scientists appeared to support an asa charge denied by malaysian palm growers that imported coconut palm and palm kernel oils contain high levels of saturated fat and thus raise blood cholesterol and the risk of heart disease
moodys said it is not adjusting gelcos b 2 subordinated debt rating because it remains an appropriate assessment of risk
wormald said its stake will represent 999 pct of holmes existing issued shares and 909 pct of the enlarged capital
he was speaking after three weeks discussions with the imf centred on the revision of the exchange system
unifast industries inc ufst year net
bethlehem steel says it is raising steel sheet prices by up to 30 dlrs short ton
public comments by fed officials suggest the central bank is keeping credit conditions broadly unchanged but if the major economies continue to show sluggish growth and the us trade deficit remains stubbornly high further coordinated action could be on the april agenda
it will be submitted again for approval by developing nations belonging to the so called group of 77 scheduled to meet next month in havana cuba
oper shr profit 32 cts vs loss 66 cts oper net profit 2454000 vs loss 3558000 sales 961 mln vs 914 mln year oper shr profit 72 cts vs loss 63 cts oper net profit 6495000 vs loss 1833000 sales 3681 mln vs 3221 mln note earnings exclude losses from discontinued consolidated operations of 460000 dlrs or eight cts a share vs 5364000 dlrs or 86 cts a share in the quarter and 11334000 dlrs or 182 dlrs a share vs 11637000 dlrs or 188 dlrs a share for the year earnings exclude a loss on the sale of discontinued consolidated operations of 200000 dlrs or three cts a share in the 1986 quarter and a loss of 4960000 dlrs or 80 cts a share vs a gain of 4404000 dlrs or 71 cts a share for the year note 1985 earnings exclude losses from discontinued unconsolidated operations of 5488000 dlrs or 89 cts a share in each period 1985 earnings exclude gain from termination of defined benefit pension plan of 490000 dlrs or eight cts a share in the quarter and 1438000 dlrs or 23 cts a share for the year
first boston inc fbc 3rd qtr net
usda comments on export sales report
they said it was believed coniston partners and the pritzker family of chicago were buying the stock
fridays employment statistics in particular will be closely watched sloane said adding that a forecast rise of 250000 in non farm payroll jobs should underpin the dollar
the world bank last year criticised ugandas policies on deficit financing and exchange and interest rates issues likely to dominate talks on the governments proposed recovery program
gros said he will also formally ask the banks for a 90 day rollover of some 96 billion dlrs of debt which originally matured in 1986 and is now due to be repaid on april 15
congress financial group supplied 28 mln dlrs in senior financing and the seller took back a note for 121 mln dlrs
clothestime inc ctme 4th qtr net
standard oil says british petroleum share tender extended until may 4
voicemail international inc 4th qtr loss
canadian imports rose 32 per cent to 26 million gallons japan 99 per cent to 12 million gallons and britain 202 per cent to 962360 gallons
gaviria submitted to the world bank and the inter american bank last week in new york a borrowing plan for a total of 3054 billion dlrs to be disbursed over the next four years which he said was approved
shr 14 cts vs 15 cts net 733000 vs 788000 revs 319 mln vs 289 mln nine mths shr 108 dlrs vs 120 dlrs net 5560000 vs 6162000 revs 1045 mln vs 972 mln note 1987 net includes tax credits of 25000 dlrs in the third quarter and 100000 dlrs in the nine months compared with 370000 dlrs and 910000 dlrs in the 1986 periods
the lawmakers agreed that for the first time a us industry could charge foreign producers with unfair competition if they deny basic worker rights such as collective bargaining safety rules and payment of a minimum wage appropriate to the countrys economic development
reference new york grain freights 2 of march 6 brokers say the charterer of the saturn from us gulf to japan is reported to be nordstrom and thulin while the antigone is reported to have been arranged from tilbury to the black sea by soviet charterers
qtly div 27 cts vs 27 cts prior qtr pay 1 april record 16 march
he told an improvement in the economic climate and less competition from the european community should lead in the gulf area to higher beef sales which dropped from 33000 tonnes in 1980 to just 2300 tonnes last year
hunt group has comdata stake seeks influence
greece plans to reduce 1987 foreign borrowing
indias 1986 87 castor oil exports fall traders
aldershot resources ltd said it signed an interim agreement to acquire 100 pct of the outstanding shares of intracoastal refining inc of conroe texas
colonial clbga to acquire pensacola bank
secretary for finance and economic planning kwesi botchwey made the announcement last night while accepting 7891 tonnes of rice worth about four mln dlrs under a japanese food aid programme
newscope resources ltd year loss
the account was previously handled by grey advertising inc of new york
fleet flt shareholders approve share increase
roses stores inc rsto 4th qtr jan 28
there is an issuance fee of 25 basis points and an utilisation fee of 75 basis points if the underwriters are required to pick up 51 pct or more of the notes issued
waste wmx ends offer for chemlawn chem 
the bundesbank steered money market rates lower last month by cutting the rate on its security repurchase pacts and is unlikely to cap this move with a cut in leading interest rates in the near future they said
qtly div 30 cts vs 30 cts prior pay march 31 record march five
talyzin said national income the nearest soviet equivalent to gross national product should rise by 43 pct against a planned 41 pct this year
the seasonally adjusted male unemployment rate in may rose to a record 32 pct surpassing the previous record 30 pct set in july 1986
james capel estimates average fuel prices for the airline industry in 1986 at 63 us cents per gallon 27 pct below the 1985 level
patient technology inc pti year loss
febres cordero quoted in an information ministry communique said we have to ratify this suspension on debt service to the private international banks
modern techniques of cost control have been introduced markets expanded and outsized labour forces and inventories cut back
royal bank canada brazil unit sees growth
period ended may 31 oper shr 31 cts vs 29 cts oper net 552035 vs 525729 sales 367 mln vs 291 mln nine mths oper shr 108 dlrs vs 104 dlrs oper net 1931488 vs 1864075 sales 1049 mln vs 876 mln note 1986 period ended june one note earnings exclude gain on disposal of discontinued operations of 162000 dlrs or nine cts a share vs loss of 585175 dlrs or 33 cts a share in the quarter and a gain of 432000 dlrs or 24 cts a share vs a loss of 585175 dlrs or 33 cts a share for the nine months 1986 earnings exclude losses from discontinued operations of 111024 dlrs or six cts a share in the quarter and 237773 dlrs or 13 cts a share for the nine months
the resolution said the european community commission has proposed establishing a consumption tax on vegetable and fish oils and fats in conjunction with the setting of farm prices for the 1987 1988 ec marketing year
uk money market given further 68 mln stg help
nippon steel corp nstct denied local newspaper reports that china has been seeking to buy steel plants from japanese firms which plan to suspend output under the recently announced rationalisation program
but there have also been setbacks like brazils payments moratorium
comalco ltd cmacs 1986 net
qtly div 15 cts vs 15 cts prior qtr pay 6 may record 8 april
security services plc a unit of securicor group plc is seeking a 50 mln stg multi option facility county natwest capital markets said as arranger
investors mainly institutions were attracted to the early issues because of the high interest rates
italy expresses willingness to support brazil
the securities will be listed on the luxembourg stock exchange and will available in denominations of 1000 and 10000 dlrs
a minimum of 65 pct of the revolving credit will be immediately available with a facility fee of six basis points
they are integrated management data systems inc which sells accounting software systems to the oil and gas industry and integrated management systems micro distribution division inc which distributes micro computer products
she said klm had started talks with vendex international nv vennas on their jointly owned courier service xp express parcel systems but declined to confirm an nrc handelsblad report saying it wanted to buy the vendex stake in xp
late last year shearsons takeover offer to the ef hutton group inc was rejected by hutton and analysts said there had been speculation that shearson also was rebuffed when it approached another major wall street brokerage
asked by if he was confident the plan eventually would be defeated amstutz said yes i am but i also know that things like this take constant vigilance the usda official said the ec council of ministers held an ad hoc meeting yesterday
comalco ltd said its return to profit reflected reduced costs improved primary aluminium prices and its withdrawal from a japanese smelter venture
but it said investment banking firms should be allowed to continue to engage in both arbitrage and merger and acquisition activities so long as those functions were kept separate
iraq is estimated to have foreign debt of about 50 billion dlrs although about half is thought to be in the form of loans from its gulf arab allies particularly saudi arabia and kuwait
dividend pay march 27 record march 5
but the dollar quickly backed off
when the government announced the sale it said it would inject permanent capital equivalent to net debt around 250 mln stg at end 1986 into the company
both hale and macomson make fire pumps and related equipment
merchants national corp mchno 3rd qtr net
hofer described lyng as sympathetic but noncommittal and said he thought he detected a sense of frustration on lyngs part at not being able to respond more positively to the groups urging
it is the maekawa report which has attracted the most attention in europe and europeans and americans want quick action
europeans are confused about this underlined by von moltkes reference to the leadership of the maekawa report
it said the view now held is that the strategic petroleum reserve to be tapped in times of shortages should be increased by 100000 barrels a day rather than 35000 as called for in the 1988 budget
total erickson tlet buys mining property
dresdner to propose 1986 dividend 10 marks vs same one for 18 bonus share issue
the bills replace maturing paper worth 23442 billion lire of which 20322 was held by operators
world bank issues australian dlr zero coupon bond
it expects the deal to close in about 60 days
the shares will be offered in units of 1000 and each unit will have a liquidation preference of 100000 dlrs
total trade with mid east gulf states fell some 40 pct due to lower oil prices with imports at 155 billion dlrs compared with 274 billion and exports at 165 billion after 272 billion
morgan said other operating income mainly fees and commissions rose to 1022 mln dlrs from 884 mln but net investment securities gains dropped to 431 mln from 581 mln
for the time being the fed is following a neutral path with fed funds at about six to 6 1 8 pct said darwin beck of first boston corp
cra ltd craas said it expected to pay a final 1986 dividend of not less than 10 cents a share after july 1 making 13 cents for27the year against 15 in 1985
last year general tire had operating profits of 79 mln dlrs on sales of 11 billion dlrs and gencorp had operating profits of 130 mln dlrs on sales of 31 billion dlrs
s african consumer inflation falls in september
but asarco inc ar with about 45 pct of total sales from copper and newmont mining corp nem are also potential winners they said
sufficient funds should be available to pay full amount of the march 31 1987 dividend to exchangeable preferred shareholders with payment expected in early april to shareholders of record march 31 the company said
imf assures kenya of maximum help
mizuno corp of osaka is issuing 30 mln swiss francs of five year notes with a 4 5 8 pct coupon and 100 1 8 issue price lead manager swiss bank corp said
consumers power sees one time 1st qtr loss of seven cts shr from suit
genfinance luxembourg is issuing a 50 mln stg eurobond due may 7 1994 paying 9 1 4 pct and priced at 101 1 4 pct lead manager kleinwort benson ltd said
the stock closed at 2925 dlrs a share on friday
nakasone to visit washington in late april
aluminium is sold in dollars
king fahd was asked whether saudi arabia would be prepared to reduce its oil output below its opec quota of 4133 mln barrels per day bpd to defend the 18 dlr benchmark price agreed to by opec last december
this afternoons session was used by delegates to seek further clarification on some of the issues involved and to discuss internal matters
the companys foreign debt mainly from the japanese and us banks was cut nearly by half to 662 billion taiwan dlrs equivalent in calendar 1986 from 1246 billion in 1985 he said
purchases of durable goods were up 248 billion dlrs last month after decreasing by 697 billion dlrs in january with sales of motor vehicles accounting for most of the february increase and the january decline the department said
the government will provide new guarantees for up to three billion hk dlrs in financing instruments to be issued by the government owned mass transport railway corp bringing the total to 91 billion dlrs financial secretary piers jacobs said
senates proxmire urges curbs on takeovers
napco international npco 4th qtr oper net
he told reporters after his speech that he had no information on the banks response to the philippines revised proposal based on partial payment of interest with investment notes instead of cash
shr four cts vs four cts net 1180000 vs 902000 revs 1469 mln vs 370 mln avg shrs 33 mln vs 239 mln note company changed its fiscal year from december 31 to the last day of february thus results of operations for the year ago period have been restated to reflect this change
proposed offerings recently filed with the sec
analysts said the markets euphoria was simply a reflection of supply and demand
for the disinflationary process to continue and price competitiveness to become lastingly compatible with exchange rate stability it is essential that wage restraint continue it said
the rating agency cited recent redemptions that reduced the layer of preferred in the companys capital structure
it said the mine would be operated by a contract miner but the associated mill by geodome
danforth said the corportation was focused in several key areas including defense electronics financial services broadcasting electrical products and services for construction and industrial and utility markets
the banks should be encouraged to look at the so called menu approach he said
the tariff cuts of between five and 30 percentage points take effect on july 1
asked about severance contracts for key executives in the event of a shift in control of the company reynolds asserted were developing alternatives that would not result in a change in control asked whether the companys plan would be superior to any proposal of afg and wagner and brown reynolds commented we know the company we know the values and we know the opportunities better than any outside group in response to a question about whether any units are up for sale he said only that gencorp is evaluating alternatives
but the other two central banks seem to be making more token gestures than anything else said chris bourdain of bankamerica corp
net is equity accounted pre equity accounted net 3990 mln dlrs vs loss 4911 mln pre equity shr profit 71 cents vs loss 87 final div to be announced after july 1 vs first and final 10 cent
coastal cgp says transamerican suit frivolous
factors depressing economic activity include the 6 1 2 year old iran iraq war on kuwaits doorstep which threatens the emirates vital oil export lifeline through the gulf and has sapped business confidence
the european communitys annual inflation rate fell marginally to 32 pct in may from 33 pct in april the ecs statistics office eurostat said
if we can get more well take it
justices opposition to quick federal approval of a bid by greyhound lines inc to take immediate control trailways corp prompted greyhound to threaten in a brief filed with the interstate commerce commission icc to drop the merger plan
twa twa to refile with us agency
they probably will close the toledo plant and move jeep production to canada ronald glantz of montgomery securities said that at the very least the new owner of the toledo plant would be able to wring concessions from the united automobile workers union local representing jeep workers
the company said the office of public counsel could find no evidence that the acquisition would substantially lessen competition in any market
in a filing with the securities and exchange commission warner communications investors said it paid about one mln dlrs to berkey on september 23 to acquire 104167 shares of berkey series b convertible preferred stock
foreign traders will be able to hedge trades against nymex prices before the exchange opens and negotiate prices at a differential to nymex prices mckiernan explained
cattle slaughter is guesstimated at about 124000 to 128000 head versus 129000 week ago and 134000 a year ago
distillate fuel stocks held in primary storage fell by 88 mln barrels in the week ended march six to 1196 mln barrels the energy information administration eia said
a further rally in dutch bonds is likely this week due to a lower dollar and a slightly firmer guilder against the mark attracting investors back to guilders from marks bond analysts said
when trading restarted they dropped sharply to 393p
yesterday federal reserve chairman paul volcker said that a possibility of renewed inflation remains a concern in both the financial markets and the federal reserve
the cut off date is completely artificial
shr loss 127 dlrs vs profit 43 cts net loss 170 mln vs profit 5667000 sales 678 mln vs 701 mln year shr loss 69 cts vs profit 218 dlrs net loss 9174000 vs profit 291 mln sales 2725 mln vs 2694 mln avg shrs 133 mln vs 134 mln note 1986 net includes tax credits of 145 mln dlrs in quarter and 8408000 dlrs in year
i expect the meeting in vienna to be short and calm lukman who is also nigerian oil minister told reporters here ahead of his departure on sunday for the conference which starts june 25
fao said in its monthly food outlook bulletin total world grain output was expected to fall 38 mln tonnes to 1353 mln in 1987 due mainly to unusually high winter losses in the soviet union drought in china and reduced plantings in north america
revenues rose to 2918 mln dlrs from 1511 mln dlrs
the a exercise period runs from may 7 1987 to august 6 1987
the bank of japan intervened in the market in the early afternoon buying dollars around 14730 yen and continuing to buy them as high as 14750 yen dealers said
a senior official of drexel burnham lambert inc and his father told the securities and exchange commission they have acquired 258591 shares of epsilon data management inc or 94 pct of the total outstanding
lindner the cincinnati ohio investor who controls american financial corp said his talks with some of tafts managers and directors have been aimed at achieving an increased ownership position in the company
but intervention is at least an option they said
they are making major moves to becoming a full scale member of the world economy he told the house appropriations subcommittee which oversees his agencys budget
tapioca usage fell 91 pct to 14 mln tonnes from 16 mln in the first half of the 1985 86 season
proceeds will be used for general purposes
1986 operating net loss also excludes extraordinary charges of 14 cts in the quarter and 54 cts in the year
the us house ways and means trade subcommittee unanimously approved a toned down version of legislation designed to toughen us trade laws and wedge open foreign markets to more us goods
the greek statement said athens was ready to put the continental shelf issue before international courts
shr loss one ct vs profit five cts net loss 34496 vs profit 207165 rev 102691 vs 297813 nine months shr profit one ct vs profit five cts net profit 69018 vs profit 230188 rev 641823 vs 666319 note the company was delisted from the nasdaq in november 1985
1985 4th qtr and year oper net excludes a loss of 77000 dlrs and about 54000 dlrs respectively for discontinued operations and a loss of 285000 dlrs and a gain of 2757000 dlrs respectively for extraordinary item
the united states is prepared to pull out all the stops to defend its agricultural trade rights under the general agreement on tariffs and trade gatt us ambassador to gatt michael samuels said
foster a diversified international concern with 27 subsidiaries operating worldwide is based in livingston new jersey
usda 1986 87 us orange crop 190050000 boxes florida crop 122900000 boxes
sudan has a foreign debt totalling 106 billion dlrs
it closed at its best level since september 12 at 714 pct of its 1975 value on the index as foreign investors continued to buy into a currency which offers high relative returns and the possibility of short term capital gains dealers said
the credit terms extended for exports under the program must be in excess of three years but no more than seven years to eligible for credit coverage
but other banks said they had seen no sign of intervention which they said appeared to be on a very limited scale
results for the third quarter should be about the same as the second he added
the bank of spain provided 1145 billion pesetas in assistance funds which bankers said reflected fears of fresh increases in overnight rates
the aid package called the canadian exploration and development incentive program will restrict the total payments that any individual company can claim to 10 mln dlrs a year
het comite as a member of fefac the association of european animal feed manufacturers is also a party to actions protesting the whole levy in the luxembourg appeal court
the united states and major latin american nations agreed to set aside sharp differences over control of the inter american development bank iadb and reconsider the issue this summer
american aircraft corp buys private firm
subscriptions close march 20
but there is a precedent for other centralled planned economies in gatt the diplomat said
the bill also would require more disclose when several investors form an alliance in a hostile takeover
raymond was quoted as saying in a published interview that exxon was reviewing its worldwide refinery operations and might decide to close one of its french refineries
the huckaby proposal is also supported by the ranking republican on the house agriculture committee rep
stoltenberg said that despite progress in some areas the debt problems of a whole range of countries had recently become more difficult
mcfarland said it would exchange one common share for each 54 petrominerals shares
the report was released before the commerce department reported today that personal income rose just 02 pct in may after increasing 04 pct in april and that personal consumption expenditures had risen just 01 pct compared with a 06 pct increase the month before
if the bill is narrowed to just winter wheat then supporters of a 0 92 feedgrains amendment will probably not offer their proposals next week sources said
the purchase valued at 148 mln dlrs follows the recent acquisition of londons johnson matthey commodities limited deak said
continuous rebel raids against oil pipelines and foreign exploration camps endanger colombias present oil bonanza franciso chona manager of the state run oil company ecopetrol said
the bank of england said the broad measure of uk money supply sterling m3 rose a seasonally adjusted 11 pct in january after a 02 pct rise in december
yulo said economists forecast a bullish sugar market by 1990 with world consumption outstripping production
first federal fark buys back capital notes
they had hoped that new vitality in the industrial countries brought on by a sharp decline in oil prices would assist their economic recovery and help them cope with growing mounds of debt
calny inc said its board rejected as inadequate the unsolicited offer by pepsico inc pep subsidiary taco bell corp for all calnys outstanding common stock at 1150 dlrs cash per share
soviet soymeal demand rose by 310000 tonnes in july and 330000 tonnes in august over the respective year ago months following a huge increase in soymeal imports
mulroney who offered few new details of the talks said that while the negotiations were risky and difficult a profile of a major trade deal is now emerging in a 50 minute address mulroney made an often passionate defense of the initiative that he said would give poorer areas of the country a major economic boost
iranian tanker attacked over weekend lloyds
sutliff said improved results should come from four factors higher prices improved market share reduced costs and improved demand
canada gdp up 01 pct in january
brazil owes it to its customers to make its intentions know
chase manhattan bank na london branch will be issuing and paying agent
nord est issues 3929 mln french franc bond
1986 3rd qtr nine months includes tax loss carryforward gains of 260000 dlrs and 14 mln dlrs respectively
it forecast a rise in consumer prices of two pct in 1988 compared with 13 pct in 1987
chinas wheat crop this year is seriously threatened by plant pests and diseases the new china news agency said
that policy goal still remains a prime objective of the reagan administration and will not change with darmans departure
in announcing the transaction computerland said the acquisition will provide it with resources and support to maintain and expand its leadership position in the computer retail industry
the dollars fall was also prompted by a record one day drop in the dow jones industrial average on friday and weakness in us bond prices dealers said
tobacco prices up 09 pct after a 20 pct january increase accounted for 30 pct of the index rise the department said
the soviet union produced 210 mln tonnes of grain in 1986 and the soviet press has said heavy rain has affected the harvest this year
for west texas sour the new price is 1810 dlrs a barrel
cityquest makes 120 mln stg bid for wickes
shares of warner communications inc wci rose 7 8 to 31 1 8
they also said the ec would be in breach of an undertaking not to bring in new protectionist measures during the current punta del este round of world trade negotiations being held under gatt general agreement on tariffs and trade auspices
ultramar plc umarl 1986 year
for investment purposes the group said
the following proposed securities offerings were filed recently with the securities and exchange commission norwest corp shelf offering of up to 100 mln dlrs of debt securities supplementing another 275 mln dlrs of debt securities which remain unsold from a previous shelf registration
taft broadcasting co said the sale of its independent television stations to tvx broadcast group which had been set for yesterday did not occur
unocal corp said it intends to increase its spending for capital projects to 929 mln dlrs in 1987 eight pct more than the 862 mln spent in 1986
the indicated coupon on friday was 5 3 4 to six pct
they will be replaced with coca cola co ko and boeing co ba the paper which is published by dow jones and co inc dj said the change in components will require revision of the divisors used to calculate the industrial average and the related 65 stock composite index to maintain the statistical continuity of the indices
the company had cited a dispute over payment by yamaha inc one of its japanese distributors over payment of a promissory note for 3686000 dlrs in overdue accounts
hde president wolfgang hinrichs said retailers would be satisfied with a real turnover increase of between 25 pct to three pct in 1987 after last years steep 37 pct rise
denominations will be in one mln guilders
the following rainfall was recorded in the 24 hours up to 1200 gmt today parana state cascavel nil ponta grossa nilcampo mourao nil londrina nil maringa nil
foreign bankers in nairobi have said a new loan agreement with the imf would be kenyas first option for dealing with the expected deficit
full name is international power machines corp
reserve money the total available to monetary authorities was a provisional 5258 billion pesos at the end of 1986
meanwhile in london a statement from beecham said the business was sold to revlon for 25 mln dlrs in cash and a royalty payment
ecuador estimates that it will cost between 145 to 150 mln dlrs to repair oil installations damaged by the earthquake energy ministry javier espinosa said
period ended january 31 shr loss 28 cts vs profit seven cts net loss 931000 vs profit 7000 sales 2303000 vs 2006000 nine mths shr loss 55 cts vs profit seven cts net loss 1619000 vs profit 185000 sales 7684000 vs 7059000 note per share reflects issue of 600000 shares in october 1986
the farmers daily said a peasant in the ortheast province of heilongjiang could gross 108 yuan from one mu 00667 hectares of soybeans and 112 yuan from one mu of corn but only 70 from one mu of sugarbeet
the docks can handle ships of up to 150000 tonnes and oil tankers of up to 200000 tonnes can load and unload in the harbour
the two elections will probably have a more decisive effect on the way business reacts he said
government officials said japan would make a formal request next week for emergency talks and that the two sides would probably meet the week after just days before the april 17 deadline set by washington for the tariffs to take effect
the cornerstone of the trade legislation passed the house ways and means committee by a vote of 34 to 2
dart group corp dartao said it has no comment on reports the company has been accumulating shares of dayton hudson corp
us threats to scrap the agreement signed last september have pushed miti to try harder to get recalcitrant japanese chipmakers to abide by the pact the analysts said
australian wheat area to fall forecaster says
it has also said it has no intention of seeking control of the company
bhp said it should not be expected that the present rate of dividend will be maintained on the increased capital
last year shipments were in three parcels of 120000 tonnes each and four of 30000 tonnes each
its far more comprehensive and broad than that and the solution of it requires a comprehensive approach baker said in the interview
if foreign exchange rates were constant foreign sales would have decreased 10 pct and total sales 04 pct the company said
rainbow has said the merger is soundly based
harris said its dealings in builders transport were on behalf of its advisory clients
net profit was 220 mln guilders in 1985
miyazawa says yen still inside paris range
dole said he was encouraged by the selection of republican david karnes to replace the late sen
qtr ends september 30 shr 25 cts vs 13 cts net 759000 vs 383000 revs 9052000 vs 6829000
merrill lynch uk executive charged by sec
contl materials cuo ends consideration of bid
it will only be useful if they also make efforts to restructure industry and improve the quality of their export goods fekete said he hoped to raise credits on good terms this year to invest in restructuring industry
the loan will be the fourth state issue for payment this year and also the fourth with a 625 pct coupon since dutch interest rates have changed little this year
ab astra astsst said it was proposing a two for one share split and the issue in june of a new series of foreign targeted shares with lower voting rights as part of a strategy to internationalise the company
intercontinental had year end assets of about 487 mln dlrs
the market is getting mixed signals and it doesnt know which way to go one analyst said
although the physical industry is aware of the market and follows its prices keenly this has not been reflected in market volume elmer said
bahrain treasury bills yield average 600 pct
national pizza co said it reached an agreement in principle to buy seven straw hat pizza restaurants and certain related real estate for approximately three mln dlrs in cash
walbro walb sees strong 1st qtr results
triangle microwave inc said it is involved in talks on its possible purchase by a substantial us company it did not identify
call rates have traded as high as 65 pct this week because of business year end march 31 balance date book squaring
1985 4th qtr and yr net includes extraordinary credit of 4974000 dlrs or 89 cts per share
shr 25 cts vs 20 cts net 801000 vs 703000 revs 6318000 vs 3926000
the ecs executive commission says the emission level of nitrogen oxide was expected to drop to 24 mln tonnes a year from three mln tonnes within the 12 nation community if all heavy vehicles applied to the new standards
csrs statement follows industrial equity ltds ineas disclosure yesterday that it had built up a 98 pct stake in pioneer at 254 dlrs a share topping csrs cash bid of 250
charles grassley r iowa said yesterday that lyng had indicated he would consider giving those farmers the same two dlr bonus offered corn farmers who are signing up for the 1987 program this month
telemedia said it will also acquire a 10 pct interest in the company which recently launched the us edition of harrowsmith
revenue would provide 4884 billion shillings leaving a deficit of 2849 billion to be financed through domestic and foreign loans
the bank of england was strongly rumored to have intervened on behalf of the dollar against the yen yesterday but it gave no confirmation
bellsouth corp said it completed its previously announced agreement to acquire dataserv inc for an exchange of shares
hokanson said conrac has conservative finances and has developed a reputation for quality products that serve niche markets
sanchez told that rentas chairman juan antonio robles was currently in the us to negotiate the deal but declined to give other details
cyprus lowers copper price 125 cts to 67 cts
you probably wouldnt see as much of a price decline said gartner group analyst fritz ringling
intervention rate was last raised to eight pct from 7 1 4 on january 2
1986 results include 51 mln dlr gain from termination of defined benefit pension plan
current profits of manufacturing industries in the fourth quarter dropped 137 pct to 2394 billion yen against a 221 pct fall in the preceding quarter the ministry said
lear petroleum partners lp lpp 4th qtr loss
growth was 24 pct in 1986
prices have since steadied to around 18 dlrs a barrel
rochester community savings bank rcsbo 2nd
the companys ordinary shares closed in milan today at 12540 lire in milan today up from a closing 12195 friday
lear siegler debt ratings withdrawn by s p
however the release this month of almost 600 mln dlrs of deficiency payments was equally divided in cash and certs doing nothing to bring up the percentage of certs
indonesia is the largest recipient of adb lending
revenues increased to 181 billion dlrs from 136 billion dlrs
the bank of canada will buy a minimum of 100 mln dlrs of the new issue including five mln dlrs of the 2011 maturity
geo
the peso lost 222 pct in value to slump to 18002 to the dollar when it was floated in 1984
the package which was agreed in principle with the committee last october 16 is built on a core loan of six billion dlrs of which five billion dlrs will be lent for 12 years with five years grace
as reported earlier crime control is in default on approximately 33 mln dlrs of bank debt and in default under the indenture governing its convertible subordinated debentures
3 if the buffer stock reaches 400000 tonnes the price at which the additional contingency stock of 150000 tonnes is brought into operation will be two malaysian singapore cents above the floor price or 152 cents
in fiscal 1987 usda said consumers are paying nearly two billion dlrs more than necessary for sugar
enex resources corp enex 4th qtr loss
spar aerospace ltd year net
taiwans exports to china through hong kong fell to 633 billion dlrs last year from 769 billion in 1985 while chinas exports rose to 112 billion dlrs from 904 mln dlrs
some cross channel ferry services from ostend were cancelled the local news agency belga said
safety kleen sk to buy stake in oil refiner
the banks policy making board on saturday postponed a decision on the reforms until june in view of strong latin american opposition to us proposals to strengthen its control over lending to the region
paradoxically it is the pick up in the economy that is partly to blame for the stock market collapse as companies have shifted funds away from financial investments to increase inventories and step up capital spending one government economist said
60000 tonnes corn smuggled into philippines paper
the balance of payments would see a sharp decline in the surplus to six billion guilders in 1987 compared with 121 billion last year the cpb forecast
the following proposed securities offerings were filed recently with the securities and exchange commission uno restaurant corp initial public offering of one mln shares of common stock including 250000 by current holders at an estimated eight to nine dlrs each through ag edwards and sons inc
this would have been the case in may 1984 when soya oil prices cif rotterdam stood at 914 dlrs a tonne they noted
a british parliamentary report said that up to march british firms had been awarded just 34 mln dlrs worth of contracts for the strategic defence initiative compared with the 15 billion dlrs britain had hoped to secure
the dividend payments on the shares amounted to 1045000 dlrs per year the spokesman said
household mortgage co had planned to offer a 25 year fixed rate mortgage after the june 11 elections on the assumption that a conservative party victory would help money market rates fall further according to duncan young managing director
a drexel spokesman acknowledged that his firm had underwritten the debt offering for sugarman but added we had nothing to do with tre as a matter of policy the sec routinely declines to comment on its enforcement activities
he told by telephone that importers liptons and brooke bond had been asked to supply data to the authority and a hearing would be held
analysts said the merger is virtually certain to go ahead
from may 15 this year up to and including july 15 1990 each warrant will entitle the holder to the bullet by surrender of the other bond and a warrant
japan economy may be near bottom economists say
the immediate outlook for crude oil prices was uncertain although it was unlikely there would be any sizeable increase in the near term
mulford said his menu of options could include more trade credits direct portfolio investments debt equity swaps project loans co financings and the invesmtent note concept which has been proposed by the philippines
us and german companies are the leading contenders to take control of cgct
senate finance committee chairman lloyd bentsen d tex called on major industrial countries to make a pledge at the coming economic summit in venice to cut interest rates
singapores gross domestic product will grow six pct in the first quarter and five pct in the second quarter this year with further growth expected in the second half trade and industry minister lee hsien loong told parliament
the dollar quotation for the high grade contract will be in multiples of one us dollar but carries may be made at 50 cents for even tonnages only
on february 25 1985 the dollar peaked against the yen at 26315 yen
plm plma unit ends merger talks
opec must hold to its pact for the next six to eight weeks since buyers will come back into the market then said dillard spriggs of petroleum analysis ltd in new york
gilberto arango president of colombias exporters association speaking to earlier this week ruled out a fresh colombian initiative on export quotas saying producers had now to show a common resolve which could emerge from continuous contacts
it added that in case of a competing offer of more than 23 dlrs it had the right to match it
it will be available in denominations of 1000 and 10000 stg and will be listed in london
the french state railway company the ste nationale des chemins de fer francaise sncf is issuing a three billion french franc domestic bond in two tranches the bond issuing committee said
hog and cattle slaughter guesstimates
smoothed but non seasonally adjusted imports were 810 mln dlrs against 843 mln in january and 890 mln in february 1986
he told the house appropriations committee that there is every prospect that the current expansion will continue unabated through 1987 and the years beyond baker said interest rates over the period have continued to decline and that policies of the federal reserve assure that ample credit was available
share adjusted for one for five reverse split in october 1986
he said doumengs interagra company was preparing proposals for further examination by the soviet union
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
harman international hiiio 1st qtr sept 30
turner and newall seeks 717 mln stg in rights
this should discourage banks from bidding high to ensure that they were successful while paying the lower marginal rate analysts said
but bankers who attended the meeting with gros said it was inconclusive
canada vows to fight us potash action
in a broad sense this would decimate the union he said with temporary workers jeopardizing the jobs of staff employees
banking sources quoted federation chairman yoshiro araki as saying he hoped the market would be created as soon as possible because it would help promote the liberalisation of japans financial markets
wang said computer associates would continue to support and enhance both companies product lines but noted that the company will eventually weed out duplicate offerings
economists had predicted an outright purchase of securities this week to counteract a seasonal drain of reserves but many had expected the fed to buy bills instead of coupon issues
it said one offer its directed to its class a common stock holders and another to holders of its 8 1 4 pct debentures due march 1 1989
taiwan sees sharp decline in shipbreaking
moodys said it assigned a aa2 rating to toyota motor credit cos 23 billion yen of 4 1 2 pct euroyen bonds due 1992
qtly div 47 1 2 cts vs 47 1 2 cts prior qtr pay 20 april record 6 april
jc penney co inc jcp and dayton hudson corp dh were among the weaker performers with comparable stores sales declining 15 pct and 49 pct respectively
but he indicated that it is already too late in the year to alter the 1987 crop program
some 427054 shares already have been issued
the europeans feared japanese personal computers would flood ec markets after washington imposed 100 pct tariffs last april
vernitron corp said it has set a new record date of july 10 for shareholders entitled to vote on the proposed merger of vernitron with sb holding corp the original record date was may 26
cash settlement on the new cattle and pig contracts was introduced last june in the expectation that the appeal of the futures market to farmers abattoirs and users of meat would increase because of the absence of a delivery requirement
the amended suit filed by eduardo de los angeles is part of a continuing attempt by certain elements in complete disregard of the facts and with questionable motives to delay an early disposition of the sequestered shares san miguel corp said in a statement
but they claimed it was a once off phenomenon that should have no knock on impact on the rest of the year
richmond hill savings bank and riverhead savings bank fsb said they terminated their previously announced merger negotiations
precision target marketing ptmi 3rd qtr net
the gunma bank ltd is issuing a 50 mln dlr convertible eurobond due march 31 2002 paying an indicated 2 1 4 pct and priced at par lead manager nomura international ltd said
primage prim introduces new printer
redstones newest plan raised the amount of interest he would pay on the cash portion of his offer for every day beyond april 30 that a merger with arsenal is not consummated
december also was revised to a 24 pct rise from an earlier 23 pct rise due to a change in outstanding credit
quantech electronics corp qant 3rd qtr dec 31
any company that doesnt like a surprise attack would arbitrageurs pointed out it is difficult to resist tender offers for any and all shares for cash
qtly div three cts vs 2 1 2 cts prior pay april 15 record april six
this time the procedure will be less structured and will be up to the individual banks as to how they wish to handle it
a sinking fund starts in 1997 to retire 60 pct of the debentures by maturity
company profits and the stock market are rising
writing in the march issue of the cargill bulletin david rogers of cargills commodity marketing division cited a gradual rise in world wheat trade in recent months with a slow rise in wheat prices after recent historic lows
usda estimates soviet wheat coarse grains
a five dlr per barrel oil import fee will provide the stimulus to create jobs and investment and raise revenues he said
the company said subject to contigencies including future sales and profit levels mcdowell could over a four year period acquire 100 pct of interpharm in exchange for up to 51 pct of mcdowells voting stock
we are trying make sure that public bodies stick to the investment programme and do not exceed their appropriations he said
nz s chase corp makes offer for entregrowth
legal advisers have been instructed to implement the amalgamation of the london potato futures association lpfa the london meat futures exchange lmfe and the grain and feed trade associations gafta soya bean meal futures association somfa
government figures show that total loans and advances rose by 138 pct in 1986 compared with a 45 pct increase in 1985
bancroft convertible fund inc said it filed a lawsuit in federal court in newark nj seeking to block a hostile 30 dlr a share takeover offer by zico investment holdings inc
tanzania seeks to export a surplus of 200000 tonnes of maize from last years bumper harvest agriculture minister paul bomani said yesterday
all elements of this proposal were open to negotiation but consumers insisted they did not want a return to the ad hoc way of settling export quotas by virtual horse trading amongst producers whilst consumers waited in the corridors of the ico
he said that with the move called a standstill arrangement brazil was only trying to avoid difficulties in paying its 109 billion dlrs of debt in the future
fekete told in an interview hungary must achieve at least equilibrium on its hard currency trade
results will be released by march 31 1987
i dont think we shall be looking at the brewery scene which is highly concentrated already he added
the reduction is effective immediately
franklin electric co inc feleo 3rd qtr net
a one cent a pound rise in copper prices yields 10 mln dlrs in annual earnings for phelps dodge the company said
its profit figures were stated before interest charges
the british banks are planning to fight the proposals as their implementation could prove extremely costly not just in terms of compliance but in limiting future business
he said that even though herringtons recommendation did not agree with existing policy well take a look at it the review will be undertaken by the presidents domestic policy council
moodys investors service inc said the 21275 mln dlrs of debt of usair group inc and its usair inc unit remain under review for possible downgrade
entertainment publications sees 31 cts shr 3rd qtr loss on units disposal
the long term capital account surplus was 198 mln dlrs in february against 211 mln in january and 55 mln in february last year
in its second quarter ended dec
based on data for the week ended february 26 the adjusted world price for upland cotton is determined as follows in cts per lb northern european price 6632 adjustments average us spot mkt location 1042 slm 1 1 16 inch cotton 180 average us location 053 sum of adjustments 1275 adjusted world price 5357
they will continue to stand pat for at least the next couple of months
shr 135 dlrs vs two dlrs net 6195000 vs 9202000 sales 1575 mln vs 1516 mln year shr 602 dlrs vs 678 dlrs net 27608000 vs 31117000 sales 5857 mln vs 5413 mln
panteras said pizza inns largest shareholder fj spillman previously granted panteras an option to buy more than one mln shares of pizza inn common stock owned by him
but sindt denied usda is planning any such changes
bra kanon is expected to meet with about eight delegations individually in attempt to iron out remaining problems
greyhound said it would pay 80 mln dlrs for many of trailways terminals buses and garages
the united states has tried to convince japanese car companies of the quality of american made parts and to draw them away from their traditional japanese suppliers
the us merchandise trade deficit on a balance of payments basis was a record 3837 billion dlrs in the october to december fourth quarter the commerce department said
cpc said it could not accept 120000 tonne parcels and proposed to lift 30000 tonnes in eight shipments
that was not my impression of the meeting funaro said but if the british answer is more or less like this then that means nothing is helping to find a solution funaro stressed that his talks in washington last week and in europe this week were aimed at gaining official support to unblock lending from official credit agencies rather than to deal with brazils ties with commercial banks
output in the energy sector rose four pct and mining output 10 pct
standard elektrik issues australian dlr eurobond
s and p cited continued lower operating earnings and rising nonperforming assets and charge offs for mellon
but denman disagreed with other provisions which would require president reagan to take retaliatory trade action against nations with large trade surpluses with the us and would set new standards for judging unfair foreign trade practices
takefman said the company is actively looking for acquisitions in the consumer products industry likely in canada
the preferred stock is redeemable starting at 52875 dlrs per share on march 15 1987 and declining on each march 15 to 50 dlrs on and after march 15 1997
great lakes federal glfs hikes dividend
many are watching the results of the first acquisitions
danforth who earlier today said he expects earnings growth in the double digit range through 1989 said he is comfortable with analysts predictions of 480 dlrs to 530 dlrs a share this year
in other words the monetary policy measures required are different from and sometimes diametrically opposed to those needed when the money stock is increasing as a result of mounting economic activity koehler said
shr 48 cts vs four cts net 882000 vs 82000 sales 968000 vs 784000 six mths shr 53 cts vs 11 cts net 970000 vs 202000 sales 2001000 vs 1521000 note 1986 net includes a gain of 26 cts a share from the sale of a funeral home and tax credits of 20 cts
the bank holding company said the action affects 401 mln dlrs of loans to brazil and 73 mln of loans to ecuador
production normally tails off sharply after march but in recent years production from march to the end of the crop has been over 500000 tonnes analysts said
he also refused to speculate on when an overall agreement might be reached
the company said a definitive merger agreement is expected to be negotiated within six weeks and shareholders are expected to vote on the deal at a meeting expected to be held in june or july
swiss banker wants bond ratings share disclosure
the us credit market ended under extreme pressure as the dollars continued slide on the currency markets triggered an avalanche of us securities sales pushing prices to 1987 lows dealers and analysts said
the dollar rebounded to about 14520 yen
the group lifted net earnings to 1693 mln dlrs in the half ended december 31 from 547 mln a year earlier when it was still in its formative stages
she said a parliamentary committee would investigate ways of closing some of the bigger loopholes including indirect trade with south africa via swedish subsidiaries in third countries
1986 operating net excludes a charge from discontinued operations of 102 mln dlrs or 22 cts a share
talking point oil services turnaround seen
the first paid will be the trading community and those connected with texaco in the shipping industry one new york trader said
the officials told reporters baldrige had serious concerns on national security grounds about the sale of schlumberger ltd slb unit fairchild semiconductor inc to fujitsu ltd itsut the officials said the sale could leave the united states overly dependent on a foreign company for equipment used in advanced missiles aircraft electronics and intelligence gathering
comtrex systems corp comxo year loss
brown and sons inc absb and donaldson lufkin and jenrette securities corp the offering is expected to be made in early april with company proceeds used to repay all short term debt for working capital and for possible acquisitions
the spokesman said the chancellor had emphasised in talks this morning with funaro the need for the brazilian authorities to be able to present a convincing economic program to the countrys creditors
the stock split is payable april 30 to stockholders of record april 10 hanover said
in 1986 the company purchased scott and foresman its biggest acquisition ever
over the year business volume rose by 99 pct to 932 billion marks compared with 1985 seipp added
the institute said accumulated overall inflation for the first two months of this year was 40 pct compared to 50 pct for the same period last year
reserve bank governor gerhard de kock said the agreement was a good deal both for south africa and the banks and added that the three year length of the agreement was of enormous significance to south africa
merrill said it was disappointed by moodys conclusion
hk m3 money supply rises 14 pct in february
mobil mob adds natural gas reserves in 1986
in december 1986 catena sold its share in the stockbroking firm jacobson och ponsbach fondkommission ab
qtr ended dec 31 shr profit nil vs loss nil net profit 858 vs loss 3957 revs 7372 vs 1500
asked at the start of the meeting how he felt about the attack the prince who is here on an official visit replied i believe what the united states has done is their responsibility as a superpower the senior us official said his remark was an endorsement of the us attack
it faced international pressure to reduce its trade surplus but west germans were worried about the effect of the marks strength on the countrys exporters
the issue was increased from an initial offering of 250 mln dlrs
capital cities abc ccb sets payout
hawkins said the merger has been assessed by independent consultants and declared fair in all respects with benefits to all shareholders
it issued no further details
manufacturers hanover corp said its ofp inc unit acquired a dallas office building through foreclosure
the survey covering a broad section of institutional investors also showed that investors were uneasy about the impartiality of market makers advice
shr 32 cts vs not given net 1041000 vs 43000 nine mths shr 109 dlrs vs not given net 3586000 vs 764000 note company went public in october 1986
in connection with the offering apache said preliminary results for the first two months of 1987 reflected a loss of about 600000 dlrs or three cts a share on consolidated revenues of 33 mln dlrs
wisconsin power and light co wpl votes payout
both dividends are payable april 27 to shareholders of record march 31 the company said
japanese aluminium output fell to 5298 tonnes in february from 7472 in january and 14280 a year earlier preliminary international trade and industry ministry figures show
thai coffee exports rose to 22068 tonnes in 1986 from 20430 a year earlier the customs department said
we do believe they will be a better competitor than sears said james stutz executive vice president of home federal savings and loan association hfd based in san diego
kaufel group ltd kflto 4th qtr aug 31 net
it has some 200 mln dlrs in funds under management
the european community ec farmers and farm cooperatives lobbies copa and cogeca have backed the ec commission plan for an oils and fats price stabilisation mechanism claiming it would not harm consumers
landes and schwartz had reached an agreement in principle with the new york video tape service company on a 1250 dlr a share takeover proposal last september but subsequent merger talks broke down in october
the planned task of bringing in no less than 232 mln tonnes of grain is not simple izvestia said
he said he would like to increase us production by one mln barrels a day
february consumer instalment credit numbers are due on wednesday with march producer price data out friday
enro acquisition is a newly formed corporation and owns ramar intercapital corp and wilsons chief operating officer v
higher import prices due to poor harvests last year in major producing nations such as argentina made feed makers reluctant to use sorghum
four us meat processors have asked the federal government to relax a labelling requirement which they said discourages the use of mechanically separated meat the us agriculture department said
platinum 562 567 palladium 130 130 iridium 400 400 rhodium 1230 1230 ruthenium 80 80
victory markets inc said it filed a registration statement with the securities and exchange commission relating to the proposed public offering of 60 mln dlrs principal amounbt of subordinated debentures due 1999
bank analyst michael walsh at first marathon securities ltd said at least one canadian bank which he declined to identify wants to put the brazilian loans on a non performing basis and is trying to encourage the others to take that position canadian banks are owed about seven billion canadian dlrs by brazil which late last month suspended interest payments on its 68 billion us dlr foreign bank debt
high beef prices in japan caused by the protected market has also kept beef consumption at modest levels meat industry officials said
iranian oil minister in uae talks
the biffex board is expected to reach a decision on the merger at its meeting at the end of this month after members are consulted at a meeting on march 16
us agriculture secretary richard lyng said a marketing loan for soybeans would serve no present purpose because the us price is not above the world price
slough estates views 1987 prospects confidently
the two 150 mln dlr equity warrant eurobonds for mitsui and co ltd reported earlier today from tokyo have now been formally launched lead manager nomura international ltd said
the blocked account is part of a debt accord recently reached with south africas foreign creditor banks
shr 38 cts net 13 mln vs 668000 nine mths shr 84 cts net 2892000 vs 2200000 note company converted to stock ownership in july
manila originally offered to pay interest in cash at 5 8 over libor or in a mixture of cash and pins tradeable dollar denominated zero coupon notes that could potentially yield up to one point over libor
bear stearns would not comment on buyers or sellers
this compares with a 11 pct fall in the fourth quarter of 1985
wet weather covered rio grande do sul brazil in the week ended march 14 benefitting soybeans which are mostly setting to filling pods the joint agricultural weather facility of the us agriculture and commerce departments said
video display vide to sell cable tv unit
morris owns 798 mln b ordinary shares or 324 pct
usg corp is raising 100 mln dlrs through an offering of notes due 1997 with an eight pct coupon and par pricing said lead manager salomon brothers inc
gte corp gte 1st qtr mar 31
gulf bond stock markets lag behind gib says
the company said an unexpectedly large volume of customer inquiries at its spitz inc simulation products subsidiary has caused higher than expected business development outlays
willis already owns 205 mln shares or 462 pct and has received acceptances from stewarts directors for a further 247469 shares
they are convertible into carbides common stock at 3550 dlrs per share representing a premium of 2347 pct over the stock price when terms on the debt were set
an additional 175000 tonnes of wheat flour are still available to iraq under the export enhancement program initative announced january 7 1987 the department said
coupon and conversion price for the par priced bond maturing on september 30 1996 will be set before payment on may 2
among other things krupp said it will provide know how for all production phases and train the korean workforce
funds averaged 629 pct yesterday
the banks reacted on the level of politics to argentina and try to justify it in terms of economics and now theyre going to have problems with both the philippines and venezuela said the source close to the manila government
some people argue that cutting the spread is debt forgiveness what it really is is narrowing the spread on new money he added
he listed environmental questions particularly acid rain and defense as the second and third most important bilateral issues facing ottawa and washington
the remainder will be available for the companys insurance units or for other business purposes it said
vice chairman gerard van schaik said the decision by the european court of justice in luxembourg to allow foreign beer into the closed west german market europes biggest beer market offered interesting possibilities for heineken
delegates from 23 countries are attending the talks of the world trade body in the new zealand resort of taupo
actual resales of homes during february totaled 241000 up 116 pct from the january total of 216000 the association said
assets under management rose to 1775 billion dlrs in 1986 from 1501 billion dlrs in 1985 while consolidated assets jumped to 1345 billion dlrs from 1157 billion dlrs
not only did bonds close above recent highs but they were also above the sideways pattern weve been in for the last three months also positive on a technical basis was the fact that the june bond contract held chart support early near 100 4 32 and that the rally occurred on heavy volume keefe said
the chairman of the federal reserve board paul volcker has written to the chairman of the house banking committee to raise concerns about legislative proposals scheduled for consideration wednesday
at exxons direction morgan guaranty trust co stands ready to validate any notes in order to establish their authenticity exxon said
apart from payments for the nuclear power station the communications and telecommunications sectors in particular should contribute to growth this year kaske said
commercial clients were also selling dollars against the yen as the end of the japanese fiscal year on march 31 drew closer
a lack of aircraft imports in february should also contribute on the trade account although it is still likely to remain in deficit the economists said
when simex and the sydney futures exchange sfe introduced us treasury bond futures last autumn the sources expected to see fierce rivalry between the two exchanges ending with only one winner in asia
ed faber who took over as chairman and chief executive officer revamped the companys royalty plan which help quell much of the franchisee dissent
each have a 20 pct stake in the idc consortium while pacific telesis and merrill lynch and co
the chances for exchange rate stability are good he told reporters
narusawa said the us is unlikely to push the yen up further because this might spark off inflation and depress the us economy before the 1988 presidential election
since lerner heads a bank holding company with assets greater than one billion dlrs he said he is barred by law from serving as a director or officer of ameritrust or of having his representatives on its board
jerry huckaby d la which would set a six dlrs per bu loan rate and apply a marketing loan
swap dealers unveil standard contract
a commission headed by venezuelan investment fund minister hector hurtado and including representatives from the interior and defence ministries and the state oil company petroleos de venezuela will travel to ecuador tuesday to evaluate and co ordinate an emergency relief program he said
west germany is the netherlands largest single trading partner taking 28 pct of dutch exports and providing 26 pct of imports in the last quarter of 1986 central bureau of statistics figures show
ec increases special feed wheat tenders trade
the argentine grain board adjusted minimum export prices of grain and oilseed products in dlrs per tonne fob previous in brackets as follows sunflowerseed cake and expellers 99 97 pellets 97 95 and meal 95 93 sunflowerseed oil for shipments through may 308 300 and june onwards 314 307 linseed cake and expellers 137 136 pellets 115 114 and meal 105 104 all for shipments through june
if the banks didnt receive anything for the rest of the fiscal year the impact could range from 16 cts to 70 cts a share
westlb international will pay a 125 mln mark dividend to westlb down from 477 mln a year earlier
upland minerals acquires brazil mining firm
major cocoa producing and consuming nations agreed operation rules for the buffer stock at a meeting in london last month and the stock manager is expected to enter the market soon
venezuelas opec output quota is currently 1495 million barrels a day and ecuadors has been set at 210000 bpd
the wall street sources said the dart group is expected soon to file a statement with the securities and exchange commission on its accumulation of dayton hudson stock
money held by the public authorities fell to 568 billion francs from 686 billion at the end of the previous quarter but was above the 555 billion at the end of 1985 the bank said
cambrian and general notes relisted in london
bnp plans 100 mln hk dlr cd issue
a key factor behind the advance was anticipation that inflation will be the only way for the major industrial nations to halt the slide in the value of the us dollar said steve chronowitz director of commodity research with smith barney harris upham and co in new york
trinidad and tobago is finalizing arrangements with union carbide uk of the united states and snamprogetti of italy for the construction of a 1500 tonnes per day methanol plant energy minister kelvin ramnath said
subsequent repayments will be determined under a complex structure which will be based on the maturity structure of individual banks loans the bankers said
jamaican ambassador leslie wilson said acp countries are convinced this would lead to ec industry substituting products made within the bloc for oil and fat imports
s and p cited continued poor operating performance of chi chis 200 mexican food restaurants and the companys planned repurchase of up to three mln of its common shares
our customers in this country are living off the tailgates of our trucks he said referring to tightness of supply and strong demand
indonesia denies giving palm oil import licences
bow valley industries ltd said it filed a preliminary short form prospectus in canada and the united states for a secondary offering of 228 pct of outstanding common stock or 9362197 common shares being sold by certain shareholders
i am afraid there are no more survivors he said
dresdner bank unit says not worried on brazil debt
pragma bio tech inc a clinical testing company said it has started performing comparative studies on differnet varieties of nitroglycerin for use in the treatment of angina pectoris episodes
hyperinfltion has been curbed and public spending trimmed but the countrys debt still trades as low as 10 cts on the dollar on the secondary market and many banks have written off most if not all of their loans to the country
shr 23 cts vs 15 cts net 2641000 vs 1295000 revs 156 mln vs 7925000 avg shrs 116 mln vs 8900000 nine mths shr 65 cts vs 37 cts net 6805000 vs 3308000 revs 427 mln vs 206 mln avg shrs 105 mln vs 8900000
net borrowings in the prior week averaged 451 mln dlrs
panhandle eastern corps trunkline gas co pipeline subsidiary said it is reducing the commodity component of its wholesale natural gas rate four pct effective immediately
the european community ec cereals trade lobby organisation coceral said it has written to ec farm commissioner frans andriessen to propose a new system for sales into intervention which it claims could save the ec budget money
minnetonka corp minlo 3rd qtr net
although an exchange of views on bilateral relations is expected the talks are not directly related to us japanese trade relations she insisted
they also agreed in principle on a recommendation for citizens to buy and own shares of gcc shareholding firms
daniel mckinley oil analyst with smith barney upham harris and co said both physical and futures markets have been oversold and it only took a small spark to bring on a short covering rally he believes an iranian trade mission to tokyo which refused discounts to japanese buyers brought japanese refiners into the market to cover their short positions
the overall area devoted to sugar beet in europe is forecast to remain stagnant this year at 722 mln hectares compared with 721 mln ha in 1986 west german statistician fo licht said
cheap oil feedstocks the weakened us dollar and a plant utilization rate approaching 90 pct will propel the streamlined us petrochemical industry to record profits this year with growth expected through at least 1990 major company executives predicted
1 the finance ministers and central bank governors of seven major industrial countries met today
it said falling oil prices caused the downturn
for the full year 1986 the current account a broad measure of trade performance was in deficit a record 14057 billion dlrs after a 11768 billion dlr deficit in 1985
columbia first federal savings and loan association said it has acquired the insured deposits of first federal of maryland based in hagerstown from the federal savings and loan insurance corp and reopend first federals six former offices as columbia first branches
tag group to cut valero energy vlo stake
arbitragers said past comments from dominion however added credence to the speculation
economists speculated that g 7 countries may try to bolster the pact by uncoupling us and west german interest rates further when they meet for the imf interim committee in april
intl broadcasting ibca sets reverse split
united cities ucit makes acquisition
philips electrical sells stake in unidare
an apparent parallel vein structure at the 2600 ft level returned similar values the company said
the officials also sought to discredit suggestions in the market that recent us action to prevent the dollar from rising above 187 marks pointed to a 153 to 155 yen ceiling for the us currency
the group added the preferred stock also can be exchanged on any dividend payment date beginning june 15 1989 for the companys 5 1 2 pct convertible subordinated debentures due june 15 2017
the united states africa and latin american are brazils main fuel buyers the spokesman said
it said cap shareholders will receive 140700 first preferred groupe cantrex shares entitling the holders to receive 605 dlrs per share or the equivilant in class a subordinate voting cantrex shares
i am deeply concerned that the ec has moved to take a harsher line toward japan despite this tangible improvement he said in a speech prepared for delivery at the opening of a new centre designed to improve understanding between the two sides
icco to examine buffer stock proposal tomorrrow
monsanto co said it is acquiring certain commerical assets of rhone poulenc chimies polyphenyl business
jax fashions inc year feb 28 net
cftc will consider public comments on the proposal until june 3
citicorp investment bank ltd is lead manager and arranger for the program and will act as a dealer along with shearson lehman brothers international swiss bank corp international ltd and sg warburg and co ltd
the telex could be sent to creditors as early as today bankers said
the remainder of alcan new zealands totalled issued 2184 mln shares are broadly held while alcan australias are primarily held by institutions
japan to sell 200 billion yen in bills traders
mwape said in a speech to businessmen in the southern town of livingstone yesterday that the imfs approach had caused social and political unrest across the continent
oilseeds on the other hand remain at depressed prices because of burdensome supplies he said
coloroll group plc said it has entered into a conditional agreement to acquire the business and assets of wallco inc and related companies for 145 mln dlrs
the following proposed securities offerings were filed recently with the securities and exchange commission ramada inc ram offering of 100 mln dlrs of subordinated notes due 1999 through salomon brothers inc
vr business brokers inc said it closed the sale of a controlling interest in its comon and preferred stock to vr acquisition corp a delaware corporation controlled by an investment group led by c
reliance industrial will buy back the 7 1 4s at 101 plus accrued interest and the 9 5 8s at 102344 plus accrued interest
the company said london and scottish marine oil plc owns a 50 pct interest in the well and its spacing unit canadian worldwide 25 pct saskatchewan oil and gas corp 10 pct interprovincial pipeline ltds home oil co ltd 75 pct and scurry rainbow oil ltd srb 75 pct
hofmeister said inro rubber was stored in 28 different locations in producing and consuming nations adding all warehouses used were suitable for long term storage
the company will register a proposed offering with the securities and exchange commission for 20 to 30 pct of the health clubs soon spokesman william peltier told 
morgan guaranty offers australian dollar issues
weightings would range from a zero rating for no risk assets to 100 pct of total asset value for what authorities consider the highest risk
jardine matheson announced earlier a 205 pct jump in 1986 net profits to 479 mln dlrs from 157 mln in 1985
dollar considerations will prevent them from easing anytime soon but they cant tighten with the economy weak and the banks having to deal with brazil doubts on the economys strength were underscored not only by a smaller than expected 164000 gain in march non farm payrolls but also by a downward revision in februarys gain to 236000 from a previously reported 337000
during a presentation in february icn had said it would issue its first mark eurobond sometime this spring icn planned to issue a bond to provide funds to acquire pharmaceuticals firms and expand its marketing base daus said in a statement
special high grade prime western and continuous galvanizing grade with controlled lead now costs 37 1 2 us cents and 50 canadian cents a pound
businessmen have identified political instability over the last 13 years as one of the biggest obstacles to lasting economic progress
italy worried at rising tension after gulf attack
the trustee said the company outbid wtd industries inc for the lumber mill harvested logs and contracts to harvest timber in the national forest
dealers said it was more likely that the alteration in this item on the weekly return indicated normal commercial foreign exchange business rather than intervention by the central bank
in january he said edf may not issue more than 300 to 500 mln dlrs of paper this year
sec investigations into those kinds of possible securities law violations have been spawned by the agencys widening probe into the wall street insider trading scandal according to published reports
brougham said we british banks have always played along for mexico and will do so as long as others share equally the decision to send the telexes was agreed on by the six clearers jointly but each sent its own telex
within the oecd preliminary norwegian data show record 106 mln bpd output in january with lower production expected in february in accordance with government curtailments of approximately 80000 bpd announced in support of opec
certificates were also granted for the export of 15000 tonnes of maize at a maximum rebate of 13290 ecus per tonne the traders said
shr 350p vs 348p div final div 92p vs 82p pretax profit 840 mln stg vs 793 mln net after tax 662 mln vs 607 mln turnover 12904 mln vs 12052 mln trading profit 1057 mln stg vs 1013 mln consisting uk 479 mln vs 453 europe 78 mln vs 34 mln north america 347 mln vs 372 mln australasia 40 mln vs 23 mln rest of world 113 mln vs 131 mln
the regional carrier reported it flew 175 mln passenger revenue miles during the month up from 157 mln miles in february 1986
valhall operated by amoco norway a s flowed 74694 bpd last month compared with 69748 bpd in august the company said
they said that while the fed has only a moderate add need over the next few days it will probably intervene in an attempt to counteract an elevated federal funds rate
asked about the current state of plans to abolish the fecs tian said we have decided to postpone the question
stage ii apparel corp initial public offering of one mln shares of common stock at an estimated 10 to 12 dlrs a share
he was responding to rumours in the international market that brazil had raised its fcoj prices in range of 1075 to 1150 dlrs per tonne
1986 qtr and nine mths includes gain 178000 dlrs or one cent per share and gain 810000 dlrs or six cts per share respectively from utilization of tax loss carryforward
the company said the acquisition is subject to regulatory approvals
upper peninsula power co upen sets payout
officials said the size of the buffer stock has been reduced because the private sector will hold its own stocks
ec commission sources said yesterday french traders planned to sell 775000 tonnes into intervention stocks west german traders 75000 tonnes and dutch traders 2500
he said the cutbacks were already drying up the supply of chips available for export through unregulated distributors in the so called grey market
fees comprise 1 1 4 pct selling concession and 5 8 pct for management and underwriting combined
pending approval currently is the purchase of rainier bancorporation rban with assets of 92 billion dlrs
prime minister yasuhiro nakasone will make an official week long visit to the united states from april 29 and hold talks in washington with president reagan chief cabinet secretary masaharu gotoda told reporters
south africa will repay 13 pct of its frozen 13 billion dollar debt to foreign creditors over the next three years under an agreement reached today in london finance minister barend du plessis said
swedish match sells portuguese unit
telemedia inc said its telemedia publishing inc subsidiary agreed to buy privately owned harrowsmith and equinox magazines for an undisclosed amount of cash
mexico gets 205 mln dlrs in world bank loans
it said the book value of the unit is about 22 mln dlrs
last year the company earned 528 dlrs a share
japanese firms and officials in turn argue the flow of cheap chips to third countries is due to grey market sales by third party brokers who seek to profit from the gap between low prices in japan and higher prices based on production costs and set for japanese makers under the agreement
shr loss 50 cts vs profit one ct net loss 4419000 vs profit 276000 sales 1268 mln vs 1513 mln nine mths shr loss 42 cts vs profit 127 dlrs net loss 3160000 vs profit 112 mln sales 4299 mln vs 4775 mln note current year net includes tax credits of 2164000 dlrs in quarter and 328000 dlrs in nine mths
bank building also said its board set july 30 as the date of the companys annual meeting with a record date of july six
but the firm said silver may lag behind gold in any reactions to movements on foreign exchanges
these include the success of ibms new personal computer line introduced two weeks ago and its 9370 minicomputers which will begin volume shipments in july
shr 28 cts vs nil net 3614000 vs 7000 revs 375 mln vs 7835000 year shr 13 cts vs nil net 1601000 vs 30000 revs 1455 mln vs 51 mln note per share amounts are after payment of preferred stock dividends
the securities are non callable for three years
oppenheimer has six pct of cyclops cyl 
french cereal exports through rouen fall
the figure compared with a surpluses of 117 billion dlrs in 1985 101 billion in 1984 and 293 mln in 1983
medar inc said it acquired automatic inspection devices inc a subsidiary of owens illinois inc toledo ohio through an exchange of stock for 80 pct of the company
for the full year ended december 31 fleet a rhode island based bank holding company reported net income of 1367 mln dlrs and assets of 117 billion dlrs
tight far east freight space hits sugar market
the merger is to be made by onyx buying lasmo exploration in a share swap
the bundesbank set a new tender for a 28 day securities repurchase agreement offering banks liquidity aid at a minimum bid rate of 350 pct a central bank spokesman said
hughes contended it was better to formally combine the companies with the status of reed already settled
campeau said it and the debartolo association will each hold a 50 pct ownership interest in the shopping centers
general acquisition co comprising investors wagner and brown and glass maker afg industries also reiterated its willingness to negotiate with gencorp
wall street stocks ual inc ual 
asked about persistent speculation that the administration would offer moscow a wheat subsidy lyng said some people think theyre doing it to see if they can get a little spurt in the market agriculture undersecretary daniel amstutz last week asked the commodity futures trading commission to investigate reports that wheat prices were being manipulated by reports that a us wheat subsidy offer was imminent
tcw convertible securities cvt sets dividend
first womens bank investor group offer expires
the total inflation rate so far this year is therefore 13 pct allowing for januarys revised figures it added
it is one of the largest distributors of films and other programs for television
one was shipped last month and two others will be shipped in june it said
the oecd study calculates the level of farm subsidies for the years 1979 81 using a new measure called the producer subsidy equivalent pse
sprinkel repeated his call for further cuts in us government spending and for resistance to tax increases
helm resources inc h 4th qtr loss
numerex corp nmrx 2nd qtr jan 31 loss
several companies say they are willing to start trading yates told in an interview
it plans to buy back up to 300 mln dlrs of 16 pct first mortgage bonds due 2000 and up to 100 mln dlrs of 15 3 8 pct mortgage bonds of 2000
the official speaking from strike headquarters in rio de janeiro said up to 30000 of brazils 40000 seamen were still on strike
the international monetary fund imf said it approved 1259 mln sdrs to assist development in jamaica
that does not preclude acquisitions and divestitures along the way he said
weatherford intl wii gets debt agreement
society for savings bancorp inc said it has completed its previously announced plan of acquisition making a new delaware chartered bank holding company the parent of conneticut chartered society for savings
colombia opens april may coffee registrations
but there may be interest rate consequences from changes in the level of government borrowing he added
the bills will be issued march 26
the new package includes an eight mln dlr advance to rgc at the long term bond rate power concessions and deferred royalties and payroll taxes
the central banks surprise signal followed its strenuous efforts last week to prevent market forces from bringing down base rates before the uk budget on march 17
an additional 10000 tonnes of wheat are still available to sri lanka under the export enhancement program sims said
pittston agrees to acquire wtc international in exchange of stock
pinola called his decision last month to withdraw his 325 billion dlr bid at the nations second largest bank a very very difficult decision with that decision made however he acknowledged first interstate may now have a difficult time keeping its number four position in the california banking community
movement of canned fruit has improved and remaining suppies for some canned fruit items are tight and as a consequence prices have strengthened the department said
shr loss 20 cts vs profit 24 cts net loss 173578 vs profit 211324 revs 4558244 vs 5595644 note earnings per share restated retroactively for all periods to reflect 20 pct stock dividend in april 1984 and 25 pct stock split september 1985
under the plan the board declared a dividend of one share purchase right for each of the northeast common shares held of record as of november two the company said
bhp co ltd net profit 6030 mln dlrs first three qtrs vs 8130 mln
they say it is not feasible for america to withdraw its 30 ship force from the gulf area where the navy began escorting us flagged kuwaiti tankers in july
the measures are a part of the defense authorization bill which will be voted on in the house next month
gatts ruling council is due to hear a complaint from the 12 nation ec on april 15 about the us japanese accord on semiconductors
the fed is keeping policy at dead center and it is not about to change policy unless something fairly dramatic occurs on the economy said john williams of bankers trust co
the letter did not mention gencorps rko general broadcasting subsidiary which has been involved in disputes over license renewals at several of its television stations
a ministry spokesman said the wholesale price index base 1953 and excluding value added tax stood at 2509 in january
income and refunds in the past five years have been declining
alberta seeding virtually complete
the soviet union was prominent in third country destinations taking 167700 tonnes while poland was credited with 54500 and south korea 50000 tonnes
a grain dealer at one member co op said the futures arm was a convenience something that saved us a little bit of money
at the same time ibm said its communications products division will continue to direct the worldwide development and us manufacture of ibms non rolm telecommunications products
at the prior meeting in mid december the fomc set a seven pct target for m 2 and m 3 for november through march
it said as a result of the liquidation of its canadian subsidiary into the parent company it will be able to offset all of its corporate overhead expenses and some of its debenture interests against canadian income for tax purposes
brand companies bran sees first quarter loss
fried
he told business executives the most important issues for the world economy are the correction of international trade imbalances and a solution to the world debt problem
in the capital account not seasonally adjusted there was a total net inflow of 476 billion dlrs in the fourth quarter up from a net inflow of 322 billion dlrs in the third quarter quarter
cornglutenfeed pellets were indicated between unchanged and one dlr lower while citruspulp pellets were offered at slightly firmer levels compared with yesterday midday
it added that nelson based in irvine calif will be operated as a wholly owned subsidiary of ethyl
caesars world caw says it mulls restructuring
knoll already owns 796413 shares or 99 pct of american savings
chemical chl marine midland mm cut prime
said it had been given options by a number of sharp shareholders covering 67 pct of the common stock pending completion of a review of the company
n
ncr corp is very optimistic that it will post record revenues and profits for 1987 charles e
the bankers noted that if the financing had been arranged in italy the cost to mexico and the italian banks would have been higher since the italian banks would use a different source of funding
india buys palm olein at tender traders
i as a shareholder wish to solicit initiate or encourage such an offer or indication of interest and believe therefore that i should resign as a director of the corporation gardner said in the letter
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
patient pti considering debt restructuring
1987 results include a first quarter non recurring charge of 7 mln dlrs with an after tax impact of 11 cts per share attributable to the write off of the remaining assets acquried from computer pictures corp in november 1982
leading industrial nations are expected to consider new forms of debt relief for the very poorest nations like those in the sub sahara during next weeks meetings
as part of the paris accord surplus countries such as japan agreed to stimulate their economies while america said it would reduce its federal budget deficit
it said international operations reported a net after tax loss of nine mln dlrs compared with a 52 mln dlr profit last year
he added that the fund can be very flexible in its dealings with developing countries adjusting its approach to the political realities
we cant force them to come back the official said
more
martens did not say how much the government expected gnp to grow in volume terms
another question is whether or not the international monetary fund can help brazil with a new austerity program
calprop corp cpp 4th qtr net
according to the prospectus offer shareholders may tender for all cash or all shares on a first come first serve basis
ec denies maize exports reserved for us 
it ended that day at 17820 30 marks
terms were not disclosed
shr 61 cts vs 55 cts net 726000 vs 669000 nine mths shr 178 dlrs vs 163 dlrs net 2133000 vs 1960000 note full name is first oak brook bancshares inc
net includes securities and loan sales loss 90000 dlrs pretax vs gain 46000 dlrs in quarter and gains 1213000 dlrs vs 2605000 dlrs in nine mths and loan losxs provisions 125000 dlrs vs 30000 dlrs in quarter and 275000 dlrs vs 90000 dlrs in nine mths
for the 1987 crop he said prices are likely to hover in a range tied to the us loan program
the real rate of return will be the sum of 060 pct plus the gross real rate of return on the 2 1 2 pct index linked treasury stock due 2020
the excess allocation compensates for public funds leaving the system which the bundesbank added last week via government owned banks
qtr ended jan 31 shr loss seven cts vs loss 64 cts net loss 367000 vs loss 3009000 revs 2516000 vs 8787000 nine mths shr loss 73 cts vs loss 117 dlrs net loss 3545000 vs loss 4573000 revs 6768000 vs 133 mln
brown disc to buy rhone poulenc rhonpa unit
pciac is a canadian government corporation providing assistance to countries like jordan to reduce their dependence on oil imports towe said
frank b
south korea has banned beef imports but there are indications seoul may bow to us pressure and allow some imports soon industry officials said
fluorocarbon corp fcbn qtly dividend
house of fabrics inc hf 1st qtr net april 30
yu chien ming head of the government statistics department told parliament yesterday he expected the losses to increase as the taiwan dollar continues to strengthen
zayre corp zy raises quarterly
tcf banking and savings hikes prime rate
bankamerica said its outstanding loans to mexico currently total about 25 billion dlrs of which about 215 mln dlrs of loans have been reported as either nonaccrual or past due 90 days or more
the unit makes a device that prints data directly from a computer onto microfilm
matushita electric trading co ltd is issuing a 100 mln dlr equity warrant eurobond due march 30 1992 paying an indicated coupon of 2 3 4 pct and priced at par lead manager nomura international ltd said
because that write off had no effect on graces cash s and p affirmed the current ratings noting that grace intends to sell its agricultural business
trace products inc said its stock swap merger agreement with privately held central point software has been suspended indefinitely because of uncertainty in the stock market
shr 113 dlrs vs 87 cts net 1064489 ca 780712 assets 1068 mln vs 1025 mln note 4th qtr data not given
glynwed sees further progress in 1987
preussag says payment of a 1986 dividend not certain
one dollar straight dealer at a us securities house commented there was in fact the odd retail buyer today but only in small sizes he added that ironically the prime rate rises may help the market to stabilise since the dollar rose on the back of the news
national gypsum said that the new credit agreement will convert in 1990 to a term loan that will be amortized over four years
branitzki put porsches hedging costs in 1985 86 at 28 mln marks
it bases this on a fall in exports as a result of the probable re introduction of quotas by the international coffee organisation
european currency markets reacted quietly to the g 7 communique with comments from bankers and dealers ranging from disappointment that it was not more concrete to surprise that the markets should have expected so much
i cant visualize where they wouldnt want it to be done said donaldson lufkin jenrette analyst richard henderson
standard and poors corp said it downgraded 225 mln dlrs of debt of beverly enterprises
dry weather covered winter grain areas in western and central algeria but soil moisture was likely adequate to meet crop demands it said
kramer said domestic demand alone would fuel growth this year
ic gas makes no recommendation on tractebel offer
the philippines will offer commercial bank creditors an innovative pricing plan that will make debt payments through certificates of indebtedness instead of cash the authoritative business day newspaper said
one major wall street firm issued a sell recommendation
it said the certificates will be classified as zero coupon bonds or promissory notes with no interest but priced at a considerable discount from their redemption price
the 900 mln dlrs of seven year notes were priced late yesterday by sole manager drexel burnham lambert inc
shr 69 cts vs six cts net 421306 vs 44132 revs 3721178 vs 3125935 note current qtr net includes a gain of 281000 dlrs mostly from the sale of securities and property
the international community will not like this appointment as it suggests the possibility that the us budget deficit is too much of a burden on monetary policy and that volcker was unable to get the commitment he sought to reduce the deficit added merrill lynch economics analyst david horner
the strikes were called off by the main port union fnv on march 13 following an amsterdam courts interim injunction against the redundancies on procedural grounds
cineplex odeon corp year oper shr basic 104 dlrs vs 77 cts
qtly div 15 cts vs 15 cts previously pay may 29 record may eight
the upper reaches of the yangtze are at their lowest levels in a century causing many ships to run aground wen wei po said
it operates more than 1300 stores in 20 states
but the united states wants to cut its trade deficit running at a record 1698 billion dlrs and is pressing others to import more from developing countries
amax zinc co raises dyecast alloy prices
management fee is 25 basis points
pizza inn has retained dean witter reynolds inc to act as its financial advisor panteras said
filtertek inc ftk sets quarterly
treasury secretary james baker said massive new lending to debtor nations could actually increase their difficulties in the period ahead without protections
the defense department said the 12th such convoy of us flagged kuwaiti tankers through the gulf began at 0230 edt under the escort by the us guided missile frigate ford
wti to 1700 dlrs today
merrill lynch and co inc fired the head of the mergers department in its london office today saying he had been unable to provide a satisfactory explanation in response to insider trading charges filed yesterday by the securities and exchange commission
conagra cag to acquire monfort mmft 
19
it said seasonally adjusted bank lending at about 29 billion stg in february compared with an average of about 26 billion stg a month over the preceding six months
he added that ecuadorean crude was now selling for 15 to 17 dlrs a barrel after having been sold for many months at 12 dlrs a barrel and as low as seven dlrs before that
polish farm prices and costs to rise from july
mathematical applications sets operations sale
john danforth r mo urges the administration to take strong retaliatory measures if the tax is approved by the ec council of ministers
those fears are unfounded he said
he also reaffirmed that amoco would reinvest in amoco canada dome properties all available cash flow for five years after the acquisition
while the company has no current plans for a major acquisition we are ready to move quickly in the acquisition field if the need arises clements said
he declined to name the delegations
he said kuwait which is turning 11 oil tankers over to us firms to fly the american flag and be protected by the us warships is not considered a belligerent despite iranian charges that kuwait is supporting iraq in the gulf war
the surprise conciliatory move by the us meets one of the producers main concerns that the floor price or lower indicative price remain unchanged they said
a french finance ministry statement issued the same time as the paris club statement said france had formally agreed with gabon to reschedule bilateral unpaid debt amounting to about 440 mln francs
it also said it intends to seek additional interim rates
but rostenkowski set the tone of the trade debate in a statement im not trying to write legislation to please lane kirkland
the european community commission awarded export licences for 20000 tonnes free market french maize at a maximum export rebate of 12940 european currency units ecus per tonne trade sources said here
the agency said this flat trend is explained by the projected seasonal consumption decline in the second quarter of the year which offset a reduction in stocks
if all the shares of purolator are tendered shareholders would receive for each share 29 dlrs cash six dlrs in debentures and a warrant to buy shares in a subsidiary of pc acquisition containing the us courier operations
henley said that depending on prevailing conditions including price and availability of sante fe stock substantial developments affecting sante fe other investment and business opportunities available to henley henley may additional sante fe shares or sell all or part of its investment in sante fe
china bought two distress cargoes last week for about 152 153 dlrs a tonne he added
uspci said its second quarter earnings would exceed analysts expectations of 24 to 30 cts a share
contl illinois says brazil moratorium could cut 1st qtr net by 10 mln dlrs
the spot riyal was steady at 37500 03 to the dollar after quotes of 37498 7503 yesterday
china india and south korea have increased output while the middle east and africa have doubled imports since the mid 1970s the report said
it expects gnp growth for the whole of 1987 of just under two pct after a 24 pct rise in 1986
rain during the week caused some delay in picking
yeutter repeats retaliation threat on ec oil tax
standard and poors said the companys asset sales and subsequent use of the proceeds for debt reduction exceeded the corporate plan of a year ago
use 32141 32187 31758 31746 exports 1211 1222 1249 1239 end stocks 2119 2178 2471 2475
todays dealings in spot currencies are booked for march 31
talking point copper stocks
there are countries such as our own whose sales possibilities are close to or above 100 pct of their current quotas escalante said
any farm trade concessions would be unveiled later this month they said
turkey thailand south korea and canada were the major buyers for the current season while thailand britain and japan were the major purchasers from the upcoming season the department said
allied bancshares inc albn lost 176 mln dlrs mcorp m lost 821 mln dlrs interfirst lost 3265 mln dlrs and first city bancorporation fbt which is actively seeking a merger or other form of new capital lost 4020 mln dlrs
washingtons deficit with taipei rose to a record 136 billion us dlrs last year from 102 billion in 1985
honduras will tender april 13 under public law 480 for approximately 52500 tonnes of various wheats in bulk an agent for the country said
the bank said a 34 mln dlr loan is to help jamaicas sugar industry become self sufficient and meet both domestic demand and the export demand of the united states and european community
neither have the government regulators indicated that there will be a problem
tire plant and its s and a truck tire sales and services corp
groupe macyro inc said it agreed to buy two quebec construction wholesalers nap dumont 1982 ltd and nap transport cie ltd for 35 mln dlrs
the us energy information administration in its latest report for the four weeks ending may 22 said that gasoline demand was up 44 pct to 73 mln bpd from the previous year
british sugar plc the monopoly beet processor has signed up uk farmers to grow 81 mln tonnes of beet
an additional 246000 tonnes of durum wheat are still available to algeria under the export enhancement program
actual reserves rose by 189 billion dlrs after rising 305 mln in february to 2226 billion
it may buy the wheat flour valued at 230 mln dlrs between april 8 and august 31 1987 and ship it by september 30 the department said
rockwell international corp is raising 200 mln dlrs through an offering of notes due 1997 yielding 7682 pct said lead underwriter daiwa securities america inc
deutsche group partial operating profits rose to 378 billion marks in 1986 from 292 billion in 1985 on a balance sheet of 25722 billion marks after 23723 billion
however the company believes it will be able to do so hawkeye said
it is inevitable that exchange rates fluctuate under the system of floating rates sumita said
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
victor was a stock association with 564 mln dlrs in assets
bean shippers were reluctant to offer nearby shipment and only limited sales were booked for march shipment at 1750 to 1780 dlrs per tonne to ports to be named
the minister said some of the existing 30 sayam bank branches will be merged with their krung thai counterparts while others will continue operating but under krung thais name
nipsco said it has not paid a qtly dividend since december 1985 following an adverse decision by the indiana supreme court denying amortization of about 191 mln dlrs nipsco invested in its bailly n 1 project
hot rolled and cold finished bar wil be increase 25 dlrs per net ton while semi finished products will be increased 15 dlrs per net ton the company said
prices in new york last week dropped to their lowest levels this year and almost three dollars below a three month high of 19 dollars a barrel
uk government bonds plummet with us issues
he told the national newspaper association youre going to see a reduction in the japanese trade surplus some of it this year but he said the reduction would be due principally to the exchange rate shifts since the plaza agreement and these shifts would take a long time to work their way through the system
some european bankers however argue that capitalization of interest is already happening in practice and that the banks ought to face up to the fact and work with the debtors on longer term solutions that recognize that not all the interest can be paid back right away
salomon sells 200 mln stg mortgages backed notes
it said the government and private exporters shipped 41607 and 15045 tonnes respectively
canadian bond rating service said it placed chrysler credit canada ltd a subsidiary of chrysler corp c on creditwatch until all financial details concerning the proposed acquisition of american motors corp amo are finalized
but the shares are probably worth about 108 dlrs each dean witters morrison and fathi of prescott ball like asarco because of cost cutting and restructuring
the ruling was an important victory for the oil companies and the reagan administrations controversial off shore leasing program and a setback for two small alaskan villages that challenged the leases by claiming damage to the environment
one official today described funaros argument as nonsense and said there had been a considerable flow of funds to brazil for which that country was in arrears
larner said claims from passengers could be expected to total at least five mln stg given the number of deaths and the normal level of liability set by the athens convention of 1974 of between 30000 stg and 50000 in case of death
yields varied widely from area to area and growers feared that heavy rains in recent weeks may have taken their toll on crops and consequently on total production volume
the company said in a brief statement that it acquired the stock in late 1986
the statement said a meeting between petrobras and oil industry leaders was set for next wednesday in rio with the presence of labour minister almir pazzionotto as a mediator
treasurys baker says system needs stability
opening stocks at the beginning of last month totalled 320057 tonnes against 288406 tonnes at the start of february last year
itt corp itt declares dividend
tseng laboratories inc tsng 4th qtr net
shr two cts vs two cts net 407396 vs 376243 revs 5341353 vs 4292819
allied lyons sees substantial second half growth
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
it stressed the need to segregate wheat categories at every stage from receival to shipping
bank of england says issuing further one billion stg 8 3 4 pct bonds due 1997
gmac to launch euro note program april 7
unemployment in the uk fell a provisional seasonally adjusted 44100 in february to total 307 mln or 111 pct of the workforce the employment department said
the us wants to be satisfied
it said the debentures would pay interest semi annually and be callable after five years at par plus accrued interest
the finance ministry said it proposed to the underwriting syndicate a record low 47 pct coupon on the 10 year government bond to be issued in april down from the previous record low five pct march issue
but brazils unwillingness to concede any of its traditional 3055 pct of its export market share looks likely to preclude any accord other delegates said
the coupon on dai ichi hotel ltds 50 mln swiss franc issue of five year notes with equity warrants has been cut to 1 5 8 pct from the indicated 1 7 8 pct lead manager swiss volksbank said
1985 4th qtr oper net also excludes a loss of 42820 dlrs for carryforward
copper industry delegates told the lme a decision to change the planned clearing system would indicate a fundamental change in the function of the lme and in its service to the industry the release said
taiwan to reopen tender for us soybeans
their merger would not alter americans third place ranking according to data compiled by aviation daily a leading industry trade magazine
oper shr loss 79 cts vs loss 232 dlrs oper net loss 2536896 vs loss 6562472 revs 138 mln vs 145 mln year oper shr loss 59 cts vs loss 235 dlrs oper net loss 1712896 vs loss 5747472 revs 436 mln vs 442 mln note 1986 excludes charge of 12 cts per share in the fourth quarter and gain of 11 cts per share in the year
amro bank argues that the dutch real interest rate will even rise further because of expectations of deflation here in 1987 contrasting with slight inflation in west germany
marcano said a telex sent to venezuelas 450 creditors seeks support for the governments foreign borrowing plans which are aimed at aluminium steel and iron ore projects
baker stoltenberg and poehl agreed to pursue the policies accepted under the february louvre accord a finance ministry spokesman in bonn said
revenues from the trail smelter totalled 356 mln canadian dlrs in 1986
there were some enquiries on the britannia from coin dealers today but value added tax would prove a major factor in the success of the coin with the 15 pct tax likely to put off many investors traders said
itoh and 35 pct by an indonesian company
shr 72 cts vs 56 cts qtly div 18 cts vs 18 cts prior net 187 mln vs 144 mln revs 2397 mln vs 1871 mln nine mths shr 187 dlrs vs 126 dlrs net 483 mln vs 325 mln revs 6769 mln vs 5748 mln note dividend payable december 1 to shareholders of record october 30
he said the ec wanted to stick to the four year schedule agreed by members of the general agreement on tariffs and trade gatt in punta del este uruguay last year
pharmacia ab said it was launching a 200 mln dlr eurocommercial paper programme as part of a move to internationalise the companys financing
bull will have four members honeywell two and nec one the new company which began worldwide operations today said
federal realty convertible increased priced
don nickles an oklahoma republican said in a letter to fellow senators seeking support for his legislation to limit these loans
oak industries oak sets debt exchange offer
applied data communications said it agreed to acquire privately held dateline technology inc of redmond wash for an undisclosed amount of cash and stock
the company said frick makes refrigeration equipment and compressors and frigid coil also makes refrigeration equipment
the dot threw out the application late friday on grounds it lacked the necessary data for the government to review the proposed usair takeover bid
the grain futures market also intends to consult its members soon gafta director general james mackie said
us one year bill yields rate of 592 pct
earnings per share are reported after payment of preferred stock dividends of subsidiaries
dinner bell foods inc said the talks concerning a proposed leveraged buy out of the company have been terminated
discounted debt can be bought by foreign investors through debt equity schemes that generate new resources for debtor economies
national guardians revenues for the first six months of 1987 were approximately 72 mln dlrs compared to about 42 mln dlrs the year ago period
nationale nederlanden profits sales steady
watanabe has acted as mediator between two rival groups one of which included c and w seeking to compete against kokusai denshin denwa co ltd which now monopolizes japans overseas telephone business
nigerias central bank has changed the rules governing its foreign exchange auctions in what analysts see as a means of defending the naira currency which has depreciated steadily
he told reporters his department is still considering whether to allow partnerships and other entities to qualify for the subsidy
they will be underwriting three mln dlrs each instead of five mln dlrs
boschwitz was one of the original supporters of a marketing loan for cotton and rice but has since focused support on decoupling legislation the boren boschwitiz bill
based on the spread between banks cost of funds and the prime rate it probably makes sense for others to follow but no rush is likely said paul mcculley of ef hutton and co
treasurys baker not concerned by bond declines
the funds were previously used to finance mining operations
that companys owner john daly would then become chief executive officer of the combined company which would be renamed hemdale film corp
a british source who declined to be identified further said the proposals could open the door to further talks between c and w cawll and the other firms involved
the divisions provided 384 pct of allied net sales and 118 pct of store profit in fiscal 1985
elders resources ltd said its two for seven convertible unsecured notes issue will raise 16132 mln dlrs for group expansion and development
the company went public during 1986
february us retail sales not sign of upturn
american century act restates earnings
salomon brothers inc acting as sole underwriter said it is publicly offering 50000 units of van dusen airport services co lp the offering consists of 50 mln dlrs of 12 pct senior subordinated notes due 1997 and 50000 contingent payment obligations
finance minister funaro told reporters last week new measures to correct the economy would be announced within a month although he gave no further details
ford motor co said it is developing an aluminum space frame for its probe v concept car using extruded stretch formed aluminum that could lead to new techniques for building production cars in the future
it was put at a record 75 to 77 mln tonnes against the previous 75 to 78 mln tonnes
the finance ministry approved the banking industrys plan to cut its share in the government bond underwriting syndicate to 738 pct from 74 pct from april 1 to allow six foreign securities firms to participate a ministry spokesman said
a market survey by showed some active accounts in us treasuries are currently dealing on tokyos stock market
british manufacturers expect output to grow rapidly in the four coming months a confederation of british industry cbi survey shows
china has signed a 130 mln dlr loan agreement with the world bank to partly finance 12 new berths with an annual capacity of 628 mln tonnes at the 20 mln tonne a year capacity tianjin port the new china news agency said
addressing analysts stonecipher declined to give specific figures but attributed his optimism to a recent loan agreement with ich corp ich under which pre paid is slated to receive 10 mln dlrs
if were off the mark now because were too high wouldnt we be as much off the mark if were too low he said
because much of the crude oil in california fields is thick heavy and expensive to extract oil prices would have to increase to near 1985s levels before any significant recovery is seen in drilling they said
the agency said the wet weather in these areas provided ample moisture for rice planting and lessened the need for irrigation
amc common shares opened at four dlrs this morning after the renault chrysler announcement up 3 8 while chrysler shares lost 1 4 to 52 1 4
the problem is likely to recur in april adding to that countrys surplus
transamerica income tai monthly dividend
schlumberger never announced a price for the sale but industry analysts have estimated the value of the deal at about 200 mln dlrs
bangladeshs sugar production increased by nearly 60000 tonnes over last years season to total 140000 tonnes at the end of this years season the sugar and food industries corp said
in 1986 it earned 148 mln dlrs on revenues of 1111 mln dlrs
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
the buffer stock manager is expected to begin buying cocoa within the next three weeks after organizing communications with cocoa producing countries and assessing the market since prices are below the must buy level of 1600 special drawing rights per tonne specified in the agreement the sources said
securities dealer has leaseway ltc stake
the earlier move by purolator to sell its canadian unit formed an important part of a company restructuring program adopted after another canadian company unicorp canada corp acquired a 126 pct stake in purolator and said it would consider acquiring the whole company
the phase in period has ended and several major banks and offshore financial institutions are investigating taking larger stakes in australian broking houses industry sources said
in the first three months of the year inflation was a negative 05 06 and 07 pct respectively rising to 10 25 and 46 pct in april may and june the national statistics office said
the fund is for local investors seeking capital growth through a diversified international portfolio
parent company net banking earnings last year were also up at 139 billion francs compared with 1357 billion in 1985 while operating costs totalled 744 billion francs against 667 billion the previous year
the company expects prices to remain at around current levels despite the likelihood of agreement on buffer stock rules at the forthcoming london cocoa talks and believes market intervention by the buffer stock manager would stabilise prices
the company said the transaction is valued at more than 99 mln dlrs based on its 4963620 shares of stock outstanding
but the new products will lead to 58 pct growth in mid range computers this year and 307 pct growth in 1988
the finance ministry later approved the arrangement
though deregulation was all but forced on brokers most now acknowledge that the influx of capital and contacts from non member shareholders has benefited the industry they said
the bouygues led consortium was widely regarded as the less likely of the two candidates in contention to be awarded the three billion franc stake by the national commission for communications and liberties nccl the french television watchdog authority
shr five cts vs 29 cts net 92641 vs 466668 sales 4448011 vs 4122301 year shr 34 cts vs 116 dlrs net 553310 vs 1864417 sales 163 mln vs 167 mln
us export inspections in thous bushels soybeans 8392 wheat 33641 corn 33728
hong kong february trade swings into deficit
hernandez declined to say whether the three or four countries he said were overproducing bordered the mideast gulf
private coffee exporters say colombias more pragmatic coffee marketing policy will ensure that the country does not suffer excessively from current depressed prices and erratic market conditions
one trade source said india has targetted countries that depend on an indian domestic market recently opened to foreign imports
bsi says expects another good year in 1987
a policy of cutting wheat production could lead to unemployment with job prospects outside agriculture limited
slater electric inc slat 1st qtr feb 28 net
tandy corp tan 1st qtr sept 30 net
us dlrs 598 billion vs 447 billion other foreign currencies 371 mln vs 3199 mln gold 8740 mln vs 8641 mln special drawing rights 1918 mln vs 1886 mln imf reserves 6897 mln vs 7057 mln
however he cautioned that care must be taken to keep growth restrained because if it accelerated too fast imports would increase and worsen the balance of payments
the netherlands largest insurer nationale nederlanden nv nttnas natned said it expected at least unchanged results in 1987 after reporting 1986 net profits up 53 pct to 6355 mln guilders from 6034 mln in 1985 revenues increased by 05 pct to 1735 billion guilders after 1727 billion the previous year and the dividend was raised to 250 guilders per share from 238 guilders in 1985 corrected on a capital increase
the minister said he presented an outline of the program during a cabinet meeting in which president jose sarney declared a total war on inflation
whitehead said however the prefential treatment that comes with most favored nation status is out for the moment
ameribanc ainvo cardinal end acquisition
finns and canadians to study mtbe production plant
similarily the west has no interest to see zaires strategic minerals fall into communist hands the diplomat said
rhodes rhds sees sharply lower 4th qtr net
oper shr loss 97 cts vs loss 73 cts oper net loss 883000 vs loss 659000 revs 194 mln vs 167 mln 12 mths oper shr loss 237 dlrs vs loss 197 dlrs oper net loss 2228000 vs loss 2145000 revs 724 mln vs 638 mln note excludes gain 341 dlrs a share versus gain 41 cts in the quarter and gain 568 dlrs a share versus gain 199 dlrs in the year from discontinued and disposed operations
oper shr profit 20 cts vs loss 22 cts oper net profit 2111000 vs loss 1605000 revs 896 mln vs 272 mln nine mths oper shr profit 47 cts vs loss 15 cts oper net profit 4116000 vs loss 1029000 revs 2521 mln vs 879 mln note 1986 net excludes losses from discontinued operations of 791000 dlrs in quarter and 1168000 dlrs in nine mths
in his oral evidence to parliaments select treasury committee lawson repeated that he was happy with the pounds current level adding that it is an objective to try to keep it around that level he said the perception of sterling on foreign exchanges had changed since the steep drop in oil prices largely because the pound had weathered that period so successfully
the malaysian government said it has re imposed export duties on rubber at 3 8 cent per kilo after the gazetted price moved above the threshold price of 210 cents per kilo
green tree acceptance inc gnt 1st qtr net
cigna corp ci sets date for debt redemption
the january rise was largely seasonal reflecting an increase in currency in active circulation prior to the lunar new year
soviet 1986 87 coarse grain production is estimated at 10330 mln tonnes vs 10330 mln tonnes last month
he said 700000 shares were purchased in the first quarter of 1987 at an average price of 81 dlrs per share
us personal income rose 09 pct or 324 billion dlrs in february to a seasonally adjusted annual rate of 35813 billion dlrs the commerce department said
weve seen the grey market begin to dry up for d rams and it has virtually dried up for eproms said merrill lynch analyst thomas kurlack of the two key memory chips used in computers
some arbitragers however believe the depressed price of piedmont offers a buying opportunity since the airline is destined to be acquired by someone
a key house panel voted to greatly ease government controls on exports as several house committees moved rapidly toward approval of major changes in trade laws they hope will help solve us trade woes
moodys may downgrade chrysler c and units
the sale of the units is part of the banks worldwide restructuring plan
the bundesbank declined to comment but a spokesman said yesterday although the funds now due may be allowed to roll over the possibility that other central banks may choose to redeem them meant a net infusion was needed
eurobonds for texaco inc subsidiaries were unquoted this morning as traders assessed the implications of the companys shock weekend decision to file for bankruptcy under chapter 11 of us bankruptcy laws eurobond dealers said
canada february unemployment 96 pct
the increase reversed a decline in january of 05 pct
canada seeks five year farm reform plan
terms of the agreements were not disclosed
the field seems to be shallow and widespread which will require a multi platform development in recovery pushing costs up christopher osborne of stockbroker hoare govett said
cotton planting began in california and was expected to proceed rapidly in the week ended march 28 the joint agriculture weather facility of the us agriculture and commerce departments said
the non callable bonds guaranteed by den norske creditbank will be issued in denominations of one mln yen and will be listed in luxembourg
an avalon spokeswoman declined to indentify the buyer of deltecs stake or give terms of the sale
independence bancorp inbc completes merger
but pentagon officials said that additional ships and air cover are under consideration
japan has agreed to drop barriers to american caught herring and pollock opening the way for shipments that could reach 300 mln dlrs annually us trade representative clayton yeutter announced
the committee also voted for legally binding quantity and quality requirements on the materials mostly metals
shr 30 cts vs 17 cts net 2526000 vs 1452000 revs 719 mln vs 252 mln year shr 120 dlrs vs 68 cts net 102 mln vs 4738000 revs 2915 mln vs 830 mln avg shrs 8511000 vs 6983000 note current periods include gain of 299000 dlrs in qtr and 12 mln dlrs in year from changes in pension accounting
the company reported first quarter earnings of 1328000 dlrs up from 344000 dlrs a year before on sales of 230 mln dlrs up from 123 mln dlrs
the cartel comprising 33 yards capable of constructing ships of more than 10000 gross tonnes will limit newbuilding output to a maximum of three mln compensated gross registered tonnes in 1987 88 the shipbuilders association of japan said
the sources added that madagascars plan to export roasted coffee has failed to take off due to packaging problems
it is our expectation that economic development will allow brazil to meet its debt a spokesman said
the committee believed the shared involvement in stockpile management was counter productive he said
the reagan administration is planning to put kuwait tankers under the protection of the us flag with naval escorts
century business credit corp said it will make an announcement concerning its delay on the american stock exchange this morning
nigeria opens talks with uk to reschedule debt
the feds failure to add reserves in the market on tuesday and wednesday surprised some but economists said the data released today suggest it had no real need to add reserves
continental general insurance co said its board of directors declared a 10 pct stock dividend on common shares payable april one to shareholders of record march 16
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
shr loss six cts vs profit two cts net loss 196000 vs profit 71000 revs 2512000 vs 5776000 year shr loss 109 dlrs vs loss 18 cts net loss 3509000 vs loss 587000 revs 120 mln vs 210 mln note 1986 year includes special charge of 1600000 dlrs or 50 cts per shr on write down of rental equipment
i dont think sumitomo has 100 pct concrete plans at this moment unless there is a new development a banker at the west german commercial branch of sumito bank ltd in duesseldorf said
first republicbank frbn corp 3rd qtr loss
icahn has acknowledged that he has been subpoenaed in connection with sec probes but this is the first time he has disclosed that he is among those being investigated
moodys said norstars ratings have been under review for possible downgrade since february 23
level iv reflects grain entered after oct 6 1981 for feedgrain and after july 23 1981 for wheat
great american mgmt gami has atcor atco stake
in an earlier incident two people were killed in an explosion and fire at the refinery on march 13
there is broad agreement among economists that the fomc at last tuesdays meeting also left fed policy unchanged
the project aims to facilitate mexican oil exports to japan and the far east and is expected to be completed in three years
if we move out of one floor entirely then the construction period will be about a year he said adding that the issue was likely to go to a membership vote first and then be on the drawing board for eight months to a year
but they will probably do it only half heartedly so i dont think it will matter too much on rates one dealer said
fritz leutwiler chairman of bbc ag brown boveri und cie and a former swiss national bank president urged the national bank to declare its intent of achieving a rising rate for the mark against the swiss franc
the rate was the lowest since the auctions resumed two weeks ago under a new two tier exchange rate system worked out with the world bank and international monetary fund
he told a news conference yesterdays meeting agreed on the need for closer coordination among ems member governments of interest rate policies and of interest rate differentials between different countries
clifford g
champion home chb sells two properties
the other three saw a current account surplus in 1987 of at least 60 billion marks and predicted that the trade surplus would fall to only around 100 billion marks from 112 billion in 1986
dixons group plc said the securities and exchange commission has authorized but not commenced the filing of an action against it concerning its waiver of a condition in its tender offer for cyclops corp
a total of 72 drums of various toxic materials which were loaded on trucks in the ships hold have been recovered but belgian authorities warned it was essential to recover a further 61 containers of a cyanide based solution
levon previously reported the zone averaged 0226 ounces of gold a ton
the critical variable remaining in the market is the value of the dollar kahan said
the company also said it will make its first cash dividend of 37 cents per unit on or about august 15 to holders of record june 30
the bank of america offering followed a january 16 issue of 200 mln dlrs of similar debt by republicbank corps rpt republicbank delaware unit
but he said for sugar growers as a whole expansion would not be good policy
it ensures firm demand at tomorrows tender one dealer said
much of the debt has been watered down but big sums are still owed by individuals and companies
georgia gulf secondary offering underway
telecast tcst completes acquisition financing
she said in moving more heavily into industrial fabrics burlington bought ch masland which supplies carpets and other fabric to the auto industry
residents of central oklahoma returned to their homes over the weekend after a week of heavy rains and severe flooding that left two dead and caused more than 20 mln dlrs in damage officials said
the government has said its fiscal policies will balance the budget by 1989
vanguard index trust quarterly dividend
the oslo government said it will review the effects of the ban on norwegian industry after two years and may propose amendments if industry can show it is hurt by the law
they said 05 pct fuel oil is up by 50 cts to 2195 dlrs a barrel
the central bank now has to clear remittances exceeding one mln us dlrs earned from exports shipping and insurance and bank lending plus remittances of more than 10000 dlrs from any other source
brazils gross domestic product gdp rose by 82 pct in real terms last year following an 83 pct increase in 1985 the geography and statistics institute said
us citrus crop estimate usda
gerber products co said it has given management of its cwt inc trucking subsidiary 60 days to pursue a leveraged buyout of the subsidiary
the new pipeline will enable japan to load mexicos maya crude oil at salina cruz rather than in the gulf of mexico
swedish gnp rose less than expected figures show
new rates previous in brackets average cd rates all banks 413 pct 433 money market certificate mmc ceiling rates for week starting from april 13 338 pct 358 average cd rates of city trust and long term banks less than 60 days 415 pct 441 60 90 days 414 pct 429 average cd rates of city trust and long term banks 90 120 days 412 pct 425 120 150 days 412 pct 423 150 180 days unquoted 403 180 270 days 405 pct 405 over 270 days 405 pct unqtd average yen bankers acceptance rates of city trust and long term banks 30 to less than 60 days 398 pct 420 60 90 days 403 pct 397 90 120 days unquoted unqtd
iowa grain elevator explodes burns
shr loss primary 82 cts vs profit 15 cts shr loss diluted 82 cts vs 13 cts net loss 4134000 vs profit 649000 avg shrs 5030000 vs 3927000 nine mths shr loss primary 80 cts vs profit 37 cts shr loss diluted 80 cts vs 32 cts net loss 3615000 vs profit 1652000 avg shrs 4557000 vs 3927000 loans 2312 mln vs 2215 mln deposits 3233 mln vs 2819 mln assets 3683 mln vs 3465 mln note prior qtr and nine mth figures include operating loss carryforward gains of 105000 dlrs or two cts per share and 195000 dlrs or four cts per share respectively
thai traders plan maize futures market
shr 16 cts vs 23 cts net 385747 vs 549928 revs 105 mln vs 9037596 year shr 40 cts vs 58 cts net 946024 vs 1352709 revs 362 mln vs 306 mln
the bank must hold out until it sees the reaction to the budget said temperton
the company said the sale was part of a previously announced restructuring program to allow it to focus on certain core businesses and generate cash to cut debt
the department also estimated the 1985 86 soviet cotton crop at 1210 mln bales vs 1210 mln bales last month
king world kwp has financing for offer
also downgraded were beneficials shelf registrations of senior debt to provisional baa 2 from provisional baa 1 and of subordinated debt to provisional ba 1 from provisional baa 3
new grades of petrol with lower lead content are sold in singapore from today in line with the ministry of environments regulations
ministers failed yesterday to overcome the problem and resumed negotiations in a bid to finalise the details before starting the price review which is confidently predicted to last many months
investor martin sosnoff said in a statement that he was disappointed in caesars world incs response to his 28 dlrs a share offer to buy the company
irvings senior debt was reduced to a plus from aa minus with subordinated debt and preferred stock lowered to a from a plus
the group which holds 2291210 taft common shares said its members may buy more shares of taft common stock or may decide to sell some or all of its stake
canadian money supply falls in week
argentina does not discard the use of a moratorium if the negotiations do not produce a result that guarantees the growth of the country he added
the utility said fuel loading has been completed at unit one and the unit is being put through a series of low power tests before the nuclear regulatory commission is asked for a full power license
some also forecast that the high of the week at 101 19 32 may signal a bearish double top formation portending steep losses
westlb issues 50 mln australian dlr eurobond
gtx corp said nippon steel co of japan in a move to diversify into high technology invested eight mln dlrs in gtx
ec approves 25000 tonnes of barley exports
lear redeemed all of its and bangor puntas outstanding debt after undergoing a leveraged buyout which closed in january and was led by forstmann little
ef hutton lbo inc says unit terminates merger agreement with purolator courier
national australia bank ltd is issuing a 40 mln australian dlr eurobond due april 24 1990 paying 15 pct and priced at 101 3 8 pct lead manager orion royal bank ltd said
us m 1 money supply fell two billion dlrs to a seasonally adjusted 7389 billion dlrs in the march 30 week the federal reserve said
over 750000 head of cattle are suffering the effects of a severe shortage of feed as a result of a prolonged drought in the normally rich sugar and cattle producing province of camaguey the newspaper granma reported
it said it requested the confidential information to better understand sgl but was denied this because it refused to sign an agreement prohibiting it from making a bid for sgl without sgls approval
contract specifications will resemble those of heating oil and gasoline futures
the french federation of non ferrous metals groups various metal associations including the association of white metals
the increase in mature palm tree areas in malaysia will slow down from this year on but that will be offset by area expansion in indonesia he said
diesel grades are up two cts caltex said bringing both diesel gas oil one pct sulfur and 52 57 di 55 cetane to 52 cts a gallon and diesel gas oil 05 pct to 52 cts
telecom australia offers 40 mln dlr bonds
western digital corp said its 47 mln dlrs of 6 3 4 pct convertible debentures due 2011 which had been called for redemption were converted into 2685142 common shares
united medical corp said it will sell its trotter treadmills inc unit
the arrangement protects amr in the case of an unexpected development such as a severe downturn in the economy
the countrys production capacity at year end 1986 was 2562 mln bpd of which 1420 mln are light and medium crudes hernandez said
analysts estimate the tax relief will save larger oil companies about 150 billion dlrs by the end of 1988
shr 22 cts vs 22 cts net 915911 vs 970141 revs 80 mln vs 80 mln nine months shr 69 cts vs 56 cts net 30 mln vs 24 mln revs 235 mln vs 221 mln note1987 3rd qtr and nine months include extraordainry gain of 341145 dlrs and 480412 dlrs respectively on sale of land
siemens reported world group turnover in 1985 86 of 4702 billion marks
prior year figures exclude loss from discontinued operations of 39 mln dlrs
butler said costs associated with the sale were included in its restructuring charge taken in last years fourth quarter and will have no effect on its 1987 earnings
pre paid provides insurance for legal services primarily in the private sector
production for the current campaign in spain was higher than reported last month at 103 mln tonnes compared with 997000 tonnes
ameron inc said its board adopted a rights plan designed to protect shareholders from potentially unfair takeover tactics
edward moore and robert derose all of new york each own one third interests in brookehill partners
the union had requested a three pct wage increase in each year of a two year contract
last month the central bank lowered its special advances rate to 51 pct from 525 pct after the bundesbank dropped its repurchase tender rate to 355 pct from 38 pct
jorge cardenas manager of the national coffee growers federation last week estimated the recent drop of 30 cents a lb in coffee prices would mean a net loss revenue of 457 mln dlrs for colombia
some tokyo traders were cautious about whether thu spot market has further upward potential in the short term having risen strongly on the opec news on friday
aweke aynalem head of the governments agriculture development department told reporters prospects were good for attaining the target of 250000 tonnes of grain in the present growing season one of two each year in ethiopia
morgan stanely ms unit sells floater cmos
yesterday they averaged 645 pct after rising as high as seven pct at the close
dart group inc said it is preparted to negotiate all terms of its proposed acquisition of supermarkets general corp
altus bank altso 3rd qtr net
fourth national corp said an investor group led by management has acquired a 73 pct stake in the company from interfirst corp ifc a dallas bank holding firm
toys r us inc toy 4th qtr feb one net
galileo electro optics corp gaeo 2nd qtr 
baxter travenol labs bax 3rd qtr shr net
the parent company contributed 50 mln dlrs in cash to the resulting 17 billion dlr asset subsidiary which will operate under the name crossland savings fsb with headquarters in salt lake city
prices have been rising at about 15 pct a month
the issue is guaranteed by brierley investments ltd
last week a spokesman said mannesmann had a letter of intent on the 375 pct stake but completion was being delayed by legal questions surrounding the inheritance
talks are due to begin in moscow on wednesday
it will be payable on april 26 every year from 1988 and onwards
it also said it will pay a six cts per share dividend on the pre split shares a regular quarterly dividend on april two to shareholders of record march 13
clevite industries inc which earlier received a 96 mln dlr takeover offer from jp industries inc jpi said it amended its shareholder rights plan so that certain provisions of the plan cannot occur until the board determines that it is in the best interests of the company and stockholders
in the parent bank the interest surplus rose nine pct in the year while the interest margin held roughly at 1985s 256 pct despite pressure on credit rates
chinese bank to make first foreign borrowing
harper international inc said it intends to buy the major asset patents and trade name of demarkus corp a designer and installer of process gas systems for the soft drink and brewing industries
yesterday hellmuth klauhs head of the genossenschaftliche zentralbank ag said rates could fall at least a quarter of a point or even half a point if german rates dropped further
correction simmons airlines inc simm loss in chicago item headlined simmons airlines inc simm 2nd qtr loss please reverse qtrs for which figures are reported
textron txt plans sale of avco division
wholesalers also expected stronger sales in march while both retailers and wholesalers reported slower growth in import penetration it said
service resources src unit sets purchase
babcock international plc babkl year 1986
the banks last announced an adjustment on february 28 when they raised the prime rate by one point to six pct
earlier carson reported yearly per share earnings of 183 dlrs down from 186 dlrs a year ago
volcker had the status of a financial demigod and you cant attain that status overnight he said
the annual rate rose to 347 pct in march compared with 317 pct in february and 342 pct in march 1986
qintex america ltd said it is again extending its offer of 13 dlrs a share for 33 mln princeville development corp shares until today from yesterday
the monetary situation is clearly very bad but as long as sterling is firm the authorities are unlikely to put rates up said kevin boakes chief uk economist at greenwell montagu gilt edged
this weeks estimated arrivals total 487000 tonnes of which 107000 are grains oilseeds and 380000 derivatives
the highest depreciation was against the swiss franc 853 pct and the lowest against the us dollar 462 pct
due to the transaction horn and hardart is projecting a positive cash flow for the unit for the remainder of fiscal 1987
immingham or foynes red sea 25000 mt bulk barley 4000 3000 10 15 4 alternatively try t c
the bank said major increases in foreign reserves were recorded in january february and the first half of march 1987
commerce secretary malcolm baldrige said a 07 pct rise in februarys index of leading indicators pointed to stronger economic growth in the first half of 1987
it is the companys first dividend since it became a public entity last october
general motors corps hughes aircraft co said it named albert wheelon as chairman and chief executive officer succeeding allen puckett who retired after more than 38 years with the company
the government also announced an end to the floating exchange rate for the zaire currency and a return to a fixed parity against special drawing rights sdrs with periodic adjustments
other achievements include a major reduction in the states foreign debts and a cut in the state budget deficit to 1411 billion francs last year 25 billion francs below target and down from 1533 billion in 1985
in my view this will happen more rapidly than many observers now predict the universal strategy of aggressive export led growth is becoming less effective shultz said
looking to the longer term spar is confident that its continuing concentration on advanced robotics satellite based communications and electro optical defense systems will lead to significant growth in revenues and earnings over the next five years the company said
reichart noted that results of its two newly acquired boat manufacturing companies will be included in the companys first quarter report
krelitz industries inc krlz 3rd qtr net
parent company reserves stood at around three billion marks at end 1985
commonwealth edison co cwe 12 months net
edelman details burlington bur options sale
he said sterling would lose out as markets turned their attention to capital movements whereas previously they had been restricted to looking only at the interest yield on currencies
shr loss 131 dlrs vs loss 180 dlrs net loss 312 mln vs loss 426 mln revs 1685 mln vs 1473 mln nine mths shr loss 15 cts vs loss 432 dlrs net profit 32 mln vs loss 101 mln revs 4461 mln vs 4907 mln note all periods toher than 1987 3rd qtr are pro forma
for the first 10 mln avana shares received opting for the cash alternative ranks hovis would make a cash payment from its own resources
pacificare health systems inc said it is in negotiations to acquire capital health care a 40000 member health maintenance organization servicing salem and corvallis ore
it has projected its current account deficit will widen to over four billion dlrs in the current financial year ending march 31 from 18 billion in 1985 86
fidelity federal savings and loan ffedo 3rd
however trading in most agricultural futures contracts increased last month led by oats and corn futures
dei anang said the abidjan based adb will hold its annual general meeting in cairo from june 9 to june 11 and over 1000 delegates were expected to attend
we are determined to follow our plan to restore this company to profitability he said
a
it lifted its 1988 projection to 190 dlrs a share from 170 dlrs
mexico has no plans to leave ico
amstutz stressed that a major factor in any decision on soybean program changes will be the budget costs
medco now has 169 mln shares outstanding
the company said it learned clandosan controls nematodes deadly plant pathogens formerly controlled by now banned synthetic chemicals
general cinema corp said it expects flat net income for fiscal 1987 ending oct
the company said it plans to operate 57 of the stores as mccrory five and 10 variety stores and close the others by the end of july
producers could receive deficiency payments on up to 80 pct of normal yield but not more than on 30000 bu of corn and 20000 bu of wheat
holders would also retain stock in the recapitalized firm
group turnover fell slightly to 38 billion marks from 4272 billion in 1985 and parent company turnover fell to around 14 billion marks from 1535 billion the company said in a statement
haiti allows importation of banned black pigs
levon resources lvnvf gold assays improved
a high level us trade official said it would be foolish for japan to strike back against the united states for its sanctions on japanese semiconductor electronics products
questioned by reporters as he left a house committee hearing baker said no when asked about the bond decline adding that it was a reflection of concern about the possibility of a trade war
but uncertainty about an acquisition coupled with eastman kodak cos ekn announcement it plans to sell its 23 pct stake in icn had made a launch date uncertain
prime minister yasuhiro nakasone said that japan and other industrialized nations committed themselves in paris last month to stabilize the dollar above 150 yen
indonesian farmers are trimming production costs and the aice is improving its marketing system dharyono said
the foreign banking market in xiamen is thin and almost saturated he added
the statement said a new private company transcapital corp ltd fully owned by rainbow directors craig heatley gary lane and ken wikeley will purchase this stake for an undisclosed cash sum
ec meat directive deadline seen flexible
the officials said a banking consortium led by credit suisse first boston would at the same time arrange for the private placing of an unspecified number of bnl savings shares with foreign institutional investors
it has been the biggest contractor for the japan defence agencys f 15 and f 14 jet fighters and missiles although all of these have been built under licence from us firms
the monetary authorities of the major industrialised countries lost their credibility this week as the dollar was sold off despite pleas from ministers and widespread central bank intervention dealers said
objections to such loans have most often been raised by conservative republicans who have traditionally opposed us funding for these international development banks
agency to review johnson and johnson sweetener
washington however was not satisfied with the cuts and pressed for more reductions as a way of cutting its huge trade deficit with taipei
chase amp bank ltd said it will lower its prime lending rate to 1775 pct from 1825 effective tomorrow
i dont think march will be as strong because easter falls in april this year said morgan stanley analyst walter loeb
the company said it also approved a two for one stock split in the form of a 100 pct stock dividend
the rating agency said international rectifiers ability to reduce high debt levels and interest expense through cash from operations is very limited
pubco pubo declares dividend right
analysts polled by said the forecast budget surplus was even more positive than the most bullish analysts forecasts and that this was good news for financial markets
the 18 dlr a share offer is being extended for elders to obtain canadian federal government approval for the acquisition of control of carling
bond defers rights issue mulls project partners
to continue actively searching for potential acquirers inherently forces us to postpone the implementation of critical decisions which are part of the plan the company which has 4475930 common shares outstanding reaffirmed it expects to be profitable in the second half of the fiscal year ending september 30 1987
but amr said it was using rent a plane leases that allow it to operate the aircraft without adding to its debt structure
not all the bids will be accepted hertz said but enrollment is expected to be high
shr 371 dlrs vs 95 cts net 2338 mln vs 628 mln revs 9978 mln vs 9380 mln nine mths shr 506 dlrs vs 224 dlrs net 3272 mln vs 1480 mln revs 300 billion vs 270 billion note realized investment gains net of taxes for 1987 3rd qtr and nine mths were 1470 mln dlrs and 2710 mln dlrs respectively
shr 22 cts vs 18 cts net 803708 vs 642534 sales 210 ln vs 188 mln note per share figures adjusted for ten pct stock dividend paid august 1986
a basic condition will be that it does not go back to the market in one go but is sold over a minimum of six months
montedison said it named ettore dellisola to the newly created position of president of agrimont
corning glass works is raising 75 mln dlrs through an issue of 8 1 4 pct 15 year non callable debentures priced at par underwriters goldman sachs and co and lazard freres and co said
payment is due april 30 1987 and final maturity april 30 1994
graphic media inc gmed year net
shr 32 cts vs 26 cts net 722000 vs 597000 nine mths shr 92 cts vs 69 cts net 2100000 vs 1500000 note full name of company is florida employers insurance co
shr four cts vs five cts net 85292 vs 109285 revs 2916128 vs 474819
servo corp of america sca 1st qtr jan 31 net
combined reserves for graven block and the fields east flank block are estimated between 70 mln and 130 mln barrels he added
the two delegations appear to be near an agreement on the figures dumas a close aide to president francois mitterrand earlier this week met iranian charge daffaires in paris haddadi gholam reza
but some bankers are speculating that the brazilian deal when it comes will be radically different
it would be blatantly inconsistent with obligations of the ec under the general agreement on tariffs and trade gatt the resolution said and constitute another egregious attempt to impose ec agricultural costs on trading partners
fed expected to add reserves in market
it said the facility which is half underwritten and half non underwritten has been over subscribed and underwriters allocations are reduced from the original commitments
he said the dollar may return to around 152 yen next month when corporations reduce their dollar sales after they close their books for the 1986 87 business year ending on march 31
subscriptions close march 25
the increase reflects active use of the facility from the first month after signing and growing international interest from institutional investors at sub libor london interbank offered rates levels
western analysts say that in particular the government is unsure how far to go with dismantling indonesias high cost monopolies which control core areas of the economy
it is our last hope and best opportunity this century
it is quite clear that the fed is not firming policy at this time said larry leuzzi of sg warburg and co inc
us defense secretary caspar weinberger said the us sought no further gulf hostitilies but was ready to deal with any iranian response to mondays attack on an iranian oil rig
the group which includes audio video affiliates inc and a unit of citicorp cci said it also obtained additional financing commitments including an increased commitment from citicorp capital investors ltd
two iranian boats wer destroyed and sunk with their occupants and the others fled it said
hal weiss chairman president and chief executive officer of rocky mount undergarment co inc said he expects the company to show a profit for the first quarter fiscal 1987
net profit before minorities 56 mln vs 521 mln
penwest inc penwo 3rd qtr may 31 net
the grey market exports from japan are shrinking now but in contrast us and south korean companies are expanding market share because of their cheaper prices honda said
sugar prices closed slightly higher on the coffee sugar and cocoa exchange despite a large export sale by the european commission on wednesday
shr 17 cts vs 16 cts net 1019000 vs 985000 revs 7997000 vs 7492000 year shr 118 dlrs vs 64 cts net 6959000 vs 3778000 revs 365 mln vs 298 mln
but steve chang professor of food science at rutgers university said palm oil is definitely not good for human health because it has a high content of saturated fatty acid he added that the higher the fatty acid the greater the blood cholesterol level
france sold around 250000 tonnes of soft wheat to china in 1985 86 according to customs figures
commission sources said any new system would cover only heavy products representing about 45 pct of the market instead of 65 pct under the present system
the bank is widely believed to be concerned about preventing a single market maker from cornering a stock to drive the price up
he expects other japanese companies to do likewise
listing will be in luxembourg
he said it was signed by an official indian trade delegation and japanese businessmen in tokyo last week
it said the number of unemployed fell to 78711 from 81558 in january and compared with 57103 in february 1986
wedgestone realty wdg issues warrants
under a 0 92 plan farmers could forego planting and still receive 92 pct of deficiency payments
the newspaper quoted linda geraldez an nfa statistician as saying despite the drought and the shortage the total inventory at the end of the january june crop season is expected to be at least 201000 tonnes
s and p said it reduced 79 debt ratings affecting 63 billion dlrs of debt securities and raised 28 ratings affecting 12 billion dlrs of debt
robert heller a member of the federal reserve board said he expects more modest levels of growth in the money supply this year
tanzania raises fuel prices taxes in budget
illinois power co said it filed a shelf registration to issue up to 50 mln dlrs principal amount of debt securities
us cargo preference squabble continues
he is still evaluating first quarter gnp prospects
dart group raises supermarkets general sgl bid
saudi arabia is not playing that role
an additional 162500 tonnes of wheat flour are still available to iraq under the export enhancement program initiative announced january 7 1987 usda said
year on year total deposits rose 289 pct compared with a 306 pct rise in january and 344 pct rise in february a year ago period the bank said in its weekly statistical release
by comparison a year ago the psbr was set at 70 billion stg
the issue will absorb about 230 mln dlrs of the 2609 mln standing in the asset revaluation reserve it said
french producers failed more than most to take advantage of last years oil price falls and growth hopes now rest on the shaky prospects of expansion in other industrial countries like west germany and japan they say
nogales said that over the next few months bolivia would make a one time offer to buy back all its commercial debt at the price it trades on the international secondary market 10 15 cents on the dlr
peru to sell 40 state firms to cut budget deficit
wtc has granted pittston an option to buy wtc shares equal to 185 poct of its outstanding stock
moodys pointed out the purchase of amc would undercut some of the recent progress chrysler has made in improving its financial condition and cost structure
he reiterated washingtons firm intention to retaliate if the ec goes ahead and bans imports of hormone fed beef without the issue being investigated by a gatt special committee
williams to continue as president and chief executive officer for five years from the effective date of the reorganization plan and has substantially concluded talks for a new 15 mln dlr unsecured credit effective the same date
poehl emphasised in his comments the very close talks between central banks before and after the g 6 meeting saying that financial markets had not fully realised the significance of the paris session and the us agreement to stem further falls in the value of the dollar the sources said
terms were not disclosed
the agreement was reached through negotiations with the british government and the european community ec after they threatened to impose duties on imports
some 79 pct of respondents said they expect the number of agency brokers for which there was no estimate to fall over the next three years
the department is required by law to wait 48 hours after the initial trade report to issue a second report on a customs value basis which eliminates the freight and insurance charges from the cost of imports
the bank earlier said first quarter net income rose to 965 mln dlrs from 870 mln dlrs in the prior year
no action has been taken yet on the reagan adminstrations offer to escort kuwaiti oil tankers through the gulf but the issue is being discussed us secretary of defence caspar weinberger said
net includes loan loss provisions of 127 mln dlrs vs 2400000 dlrs
the remainder of the refinery including the 19000 catalytic cracker was undamaged
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
federal reserve board vice chairman manuel johnson said inflationary pressures are under control and noted wage and price pressures are very moderate johnson told a womens group that the us was not seeing the kind of cost pressures of the past
it said the shares held in trust will be eventually sold
the notes and swap agreement are secured by a charge on 97 mln dlrs of the denmark bond
he said that would correspond to a federal funds rate of around 610 pct
the grain and oilseed importers association acico opened legal proceedings to stop epac participating in the public tenders
a new rabobank mortgage bond whose terms dealers considered extremely generous was in heavy demand on the amsterdam bourse today bond dealers said
we are no longer concerned so much with the world market he said adding producers in the negros region had learned from their mistakes and diversified into corn and prawn farming and cloth production
i believe their new cars will be successful but that will only curtail losses in market share which will fall to around 35 pct by 1990 lucky said
earlier this year monetary sources said the us treasury unsuccessfully sounded out allies on a target zone system
but he said work in the coordinating committees had already run into difficulties before brazils interest moratorium
moodys may downgrade afg afg gencorp gy 
cpc said not included in the 340 mln dlr consideration are proceeds from the sale of some smaller asian investments including a 51 pct equity interest in an oat based food venture to an australian partner
the stock split requires shareholder approval of an increase in authorized shares of common stock to 100 mln from 25 mln and an increase of authorized shares of preferred stock to five mln from one mln the company said
the february total included 19102 tonnes from the us against 16577 in january and 9933 a year ago 24391 from australia against 19585 and 21208 and 12611 from indonesia against 5891 and 16601
greece has agreed to buy between 27000 and 33000 tonnes of spanish corn a spokesman for cargills spanish unit compania industrial y de abastecimiento sa cindasa said
a study group said the united states should increase its strategic petroleum reserve to one mln barrels as one way to deal with the present and future impact of low oil prices on the domestic oil industry
soviets outline 1988 economic targets
ameron inc amn qtly dividend
it said demand for the companys products are continuing at high levels and sales are expected to show further growth
we will not continue to hurt ourselves economically and subsidize foreign wheat production by unilaterally stocking grain and changing programs which protect our growers jim miller president of nawg said
global petroleum corp said it had raised the contract prices for heavy fuel oil from 25 cts to one dlr per barrel effective today
the program involves setting a realistic exchange rate for the naira which was over valued for many years liberalising imports boosting agriculture removing subsidies and reducing inefficient government participation in the economy
goodyear said it is selling its 50 pct interest in toyobo petcord ltd of japan to its partner in the venture toyobo co
final terms set on atari corp convertible eurobond
all results restated to exclude five businesses divested as part of the companys restructuring program
a one billion stg issue of nine pct exchequer stock due 2002 which became available for trading only this morning was exhausted in mid afternoon trading on the uk government bond market dealers said
the agency added that it would continue to consider a separate twa request for federal clearance to purchase usair stock through a voting trust
norcros said any such benefits could be achieved through normal trading and did not warrant a closer formal association
shr 183 dlrs vs 77 cts net 2966 mln vs 1201 mln year shr 490 dlrs vs 276 dlrs net 7958 mln vs 4205 mln note includes gains of 1392 mln vs 468 mln in year and 940 mln vs 116 mln from capital gains from investments
w woolworth co said sales for the five weeks ended april 4 rose 02 pct to 591 mln dlrs from 590 mln dlrs
on a comparable store basis the increase was 32 pct
in anticipation of this liquidity drain banks have stocked up reserves at the bundesbank
the reserve bank said it is cancelling its regular weekly treasury bill tender scheduled for tomorrow
ec to boost spending on job creation this year
finance minister dilson funaro currently on an international tour to seek governmental support for his efforts to solve brazils 108 billion dlr foreign debt crisis said creditors have expressed willingness to help
international monetary sources say finance ministers and central bankers who will review market performance and their own economic prospects will reassemble again in washington just before the april 9 policymaking meeting of the international monetary fund
only parent holding company texaco inc and operating subsidiaries texaco capital inc and texaco capital nv are affected it said
the plan envisages giving incentives to importers not to import japanese goods and to exporters to sell more to japan
williams also said it expected a substantial decline in its debt to equity ratio this year because of more than 250 mln dlrs received in cash from the sale of agrico chemical co and proceeds from the sale and leaseback of williams telecommunications co
fees are 1 1 4 pct for selling 1 4 pct for management and 3 8 pct for underwriting
dealers said federal funds were trading at 6 1 16 pct when the fed began its temporary and indirect supply of reserves to the banking system
jem record inc jemr 2nd qtr jan 31
no exports are planned for the next 12 months or so and plans last year to sell one mln tonnes to iran came to nothing because they could not agree a price he said
bank of japan to sell 300 billion yen in bills
6 at the same time group members said they held short positions in the stock totaling 830000 shares
pergamon holdings reduces bpcc and hollis stakes
the suits are related to the companys purchase of its shares from salomon brothers inc after salomon bought a block of the stock from ronald perelman who had acquired nearly 37 mln cpc shares or 76 pct of the company last year
some steps have already been taken interest payments for chile have been stretched out and banks are debating whether to accept partial interest payments from the philippines in paper instead of cash
att t offers document software product
suspicion at present is focused on the ferrys main vehicle loading doors set close to water level
while not committing himself for or against such action he said lawmakers have to examine recent government findings which indicate certificates cost more than cash payments
a surge of acitivity is expected during this final week of signup the official said
referring to information services staley said that certainly is one area we would quickly move into electronic mail voice mail and videotext are some of the services nynex could offer he added
irwin jacobs says he holds less than five pct of gillette
that is about 117 pct of the outstanding stock on a fully diluted basis the proxy said
britains gold and currency reserves showed an underlying rise of 287 mln dlrs in february after a 72 mln dlrs rise in january the treasury said
simpson industries inc smpso 3rd qtr net
the warrants are publicly traded on the new york stock exchange
world bank to loan jamaica 104 mln dlrs
he added that meads pulp and paperboard businesses are operating well as prices have improved and strong demand has placed most products in a sold out position through the middle of the year
the company said closing is expected shortly after the filing of a registration statement with the securities and exchange commission which is expected to be made this month
ortiz mena also said that brazilian authorities have opened negotiations already with commercial banks
sales and end month stocks in tonnes were feb 87 jan 87 feb 86 sales 36557 38678 75687 stocks 53248 56620 127083
it has to depend on public sector investment for faster growth if the private sector is not moving gross domestic product grew one pct in 1986 after shrinking one pct in 1985
law enforcement sources say two bronx congressmen mario biaggi and robert garcia are under investigation
exco international plc a subsidiary of british and commonwealth shipping co plc bcoml said it had agreed in principle to buy an 80 pct stake in rmj holdings corp for about 79 mln dlrs
fed approves chase manhattan commercial dealing
k mart corp said it was opening branch offices of first nationwide bank in 21 of its stores in florida
danforths concerns that the special committee did not have sufficient time were expressed to walters in a telephone conversation and reiterated in a letter from counsel on monday of this week
should the skepticism about our ability to resist inflation be reinforced by bad policy the consequences for interest rates for exchange rates and for the economy generally would clearly be undesirable recognition of that danger neccesarily must weigh heavily in the formation of monetary policy the fed chairman said
realistically there is in fact no persuasive reason why the german currency is quoted almost 20 pct lower than the swiss a national bank spokesman said the relation of the mark and swiss franc was an example of stable currency parities over a long period of time
viner eavkf viable after hecks hex move
firmer crude oil prices government aid packages and corporate spending cuts will help canadas oil industry recover from last year sharp downturn industry analysts said
the october 1986 import figure consisted entirely of whites from cuba while the november total was made up of 84037 tonnes cuban whites and 51992 tonnes whites from thailand
the company said the offer will be subject ot securing satisfactory financing
claremont added that it asked champion to put two representatives on its nine member board of directors
corrects headline and dividend figure to show payout was raised
ge will be able to record revenue as a sale at the time of delivery heymann noted
the billes control 60 pct of canadian tire common
the rise in west germany short term interest rates was not in the spirit of an agreement by these nations in washington which reaffirmed the louvre pact he said
akzo will integrate the firms to be partially joined with its own french activities in its consumer products division
celeron consists of oil and gas reserves and an almost complete pipeline linking drilling operations in santa barbara calif to texas refineries
the foreign ministry official refused to rule out japanese retaliation if america went ahead with its threatened tariffs in the middle of this month
oper shr 50 cts vs 52 cts oper net 192 mln vs 188 mln sales 143 billion vs 130 billion avg shrs 386 mln vs 360 mln year oper shr 165 dlrs vs 173 dlrs oper net 627 mln vs 618 mln sales 551 billion vs 496 billion avg shrs 381 mln vs 358 mln notes sales are from continuing operations operating net excludes results from discontinued operations of nil vs profit 2815000 dlrs or eight cts a share in quarter and loss 308000 dlrs or one cent a share vs profit 1880000 dlrs or five cts a share in year latest year operating net also excludes loss of 1536000 dlrs or four cts a share on disposal of discontinued department store segment share data adjusted to reflect two for one stock split paid to holders of record august 1 1986 operating net includes pre tax lifo credit 700000 dlrs vs credit 20 mln dlrs in quarter and charge 28 mln dlrs vs charge 49 mln dlrs in year
first data management co inc said it has completed a merger into firsst data management holding co following sharehoplder approval
fish said the pact that was rejected contained a cost of living increase tied to the canadian consumer price index but no wage increase
reynolds metals rlm to restart idle potline
api reports sharp fall in drillings
the committee said the bp refinery which lacks a de sulphurisation plant was likely to be closed or sold unless costly investments were made to enhance the facilitys capacity to refine a broader range of products
the us civilian unemployment rate was unchanged in february at 67 pct
shr 24 cts vs 13 cts net 704803 vs 385081 revs 5669682 vs 4142095
other prime rates range from 1825 to 185 pct with the majority on 1825
chrysler c overseas unit redeeming debentures
it will remain very edgy money
yield falls on 91 day sama deposits
all local staff and management will remain the same it said
in a filing with the securities and exchange commission chevron said it sold the shares for 1188 dlrs each or a total of 546 mln dlrs under an agreement it had with unc
joe gold corp said it plans to proceed with development of its golden patricia gold property in northwestern ontario
it will be listed in luxembourg
artistic greetings inc said it expects a rebound in profits and an increase in sales in 1987 as costs connected with computerization staffing traning and catalog sales start to taper off
silver state mining corp said it expects gold production this year to be more than double 1986s 17458 ounces
tisch brothers lower tosco tos stake
redstones newest proposal offers holders 42 dlrs in cash a fraction of a share of exchangeable preferred stock with a value of 750 dlrs and one fifth of a share of common stock stock of arsenal holdings representing 20 pct of the equity interest in the restructured viacom
he said att currently controls about 80 pct of the us long distance market with mci communications corp mcic about 10 to 12 pct and sprint five to seven pct
despite the planned use of proceeds from asset sales for a portion of the buy backs costs decapitalization would raise adjusted debt leverage above the 75 pct level of recent years
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
the official target for 1987 gnp growth is eight pct
they said the size of the intervention was relatively modest so far but it was a clear indication that the us remained committed to the late february paris currency stabilization accord which was reaffirmed in washington last night
the new gus shares will not receive the eight pence per share interim dividend in respect of the year ending march 1987 the statement said
rj reynolds to redeem 12 billion dlrs of 1120 pct notes
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
shr profit three cts vs loss two cts net profit 107000 vs 87000 loss revs 6769000 vs 4992000 nine mths shr profit 21 cts vs loss nine cts net profit 778000 vs loss 314000 revs 219 mln vs 139 mln
the debentures are convertible into the companys common stock at 2125 dlrs per share representing a premium of 2319 pct over the stock price when terms on the debt were set
varity corp vat 4th qtr jan 31 loss
no details were available and bankers were not available to comment because meetings with the philippine negotiators were still in progress
cyacq extends tender for cyclops cyl 
the company said had very few exploration wells committed for 1987 and therefore retains maximum flexibility in its exploration program
lac minerals lac to close lake shore mine
speaking to a house agriculture appropriations subcommittee amstutz cited three factors which have improved the wheat outlook
after g 6 round one goes to central banks
ortner said he would like to see the law changed to eliminate the 48 hour delay in reporting the two figures
defense secretary caspar weinberger said on saturday the attack on a us flagged ship in kuwaiti waters on friday was almost certainly by an iran silkworm missile
the index fell 03 pct year on year the third consecutive yearly drop reflecting lower food and utility costs
zayre corp zy 4th qtr jan 31 net
amro said the bonds the second dual currency issue in the dutch market in two weeks is aimed at investors who expect the dollar to rise in the medium term
wolverine exploration co said substantially all the material aspects of the agreement to sell its 895 pct working interest in the luckey ditch unit in unita county wyo to sun co inc have been satisfied
saudi riyal deposits surge on us rate rise
he said he was unable to see what the us had achieved as arab states such as kuwait and saudi arabia whose interests the us is supposedly defending will feel less secure as a result of the us attack and fear some sort of iranian retaliation
steinberg group has five pct of pizza inn pza 
mauritius lifts duty on textile related goods
coastal corp said that effective october 16 it had raised posted prices for crude oil by 50 cts a barrel
us business inventories rose 56 billion dlrs or 09 pct to a seasonally adjusted 59219 billion dlrs in january the commerce department said
periods end sept 26 shr 31 cts vs 24 cts net 5449000 vs 4083000 sales 603 mln vs 519 mln 39 weeks shr 47 cts vs 30 cts net 8249000 vs 5147000 sales 1450 mln vs 1083 mln
the option is subject to negotiation of a definitive agreement and the receipt of certified financial statements from americom
brown transport co inc btci 4th qtr net
the change in yield estimates is due to very high temperatures and inadequate rainfall since early in the year in the soybean producing belt of southern cordoba and santa fe and northern buenos aires province
there were 287700 tonnes of us corn shipped to the soviet union in the week ended april 2 according to the us agriculture departments latest export sales report
current qtr and year figures include extraordinary loss of 69 mn dlrs and gain of 99 mln dlrs respectively
foreign investors sold a net 427 mln dlrs of japanese bonds excluding bills after buying 227 mln dlrs in january
it is only reasonable to ask the nations that have denied us access to open up in return for continued freedom in the american market he added
sales of silver also rose to 165968 ounces from 109516
the new york stock exchange said loral corp told the exchange its policy is not to comment on unusual market activity in its stock
4th qtr shr 14 cts vs 14 cts net 210000 vs 211000 revs 230000 vs 229000 year shr 56 cts vs 56 cts net 838000 vs 841000 revs 919000 vs 919000
burlington sold its domestic operations which made sheets and other linens to jp stevens and co inc for 110 mln dlrs last year
schutz made no specific profit or sales forecasts
brazilian labour unrest spreads many banks shut
colt industries inc said it signed a conditional agreement to sell its woodville polymer engineering ltd subsidiary in great britain to the dowty group plc of gloucestershire england for 359 mln stg
italian insurer la fondiaria spa lfdimi said it expects to report consolidated group profit in 1986 significantly higher than the 60 billion lire reported in 1985
combustion engineering said c e environmental which provides environmental sciences and management services had 1986 sales of about 24 mln dlrs
many factions within the ldp are distancing themselves from nakasone uchida said
usda is drafting regulations required by a 1986 law that would offer amnesty to illegal aliens if they worked in the cultivation of fruits vegetables and other perishable commodities
but in contrast to january the dampening effect of the inflow on domestic credit demand outweighed the expansionary effect on money growth the bundesbank said
the previous agreement reached a year before but never implemented was for 12 1 2 years with a 1 1 8 pct spread
indonesias non oil exports decline in 1986
under the present agreement if the daily market indicator price has been above the upper intervention may sell price currently 231 malaysian singapore cents or below the lower intervention price may buy price 171 cents at present for six months the reference price is then revised by five pct or whatever amount the international natural rubber council decides
wheat condition was rated 15 pct fair 84 pct good and one pct excellent
portugals gdp forecast to grow four pct this year
the government has carried out eight flotations as well as the private sale of telephone group cie generale de constructions telephoniques cgct since its denationalisation scheme began last december with the sell off of glass makers saint gobain sgeppa it added
martin said that an additional 50 mln dlrs in contracts to small and disadvantaged businesses will be announced later
western agricultural attaches in moscow said they had no evidence to substantiate rumours that last aprils chernobyl nuclear disaster had a worse effect on soviet grain than first reported
securities company sources believe the ministry will permit non residents to issue euroyen commercial paper within the next few months
the talks are now in a make or break phase the sources said
he noted that even though opec production may be within quotas oil stocks are at tremendously high levels although the ecuador situation could cause a delay oil prices will eventually decline to the lows of late february he said and that will be a supportive influence for bond prices
european community sowings are likely to be down compared with last year
weyerhaeuser will use proceeds from the offering to reduce outstanding commercial paper
australia expects rise in meat exports to mideast
it might be worth contemplating a marketing loan if there were a world market that was lower than our market
it called on washington to modify its legislation
our position is that we are not willing to discuss the problems of market prices at a time when traders are making threats one source said
the decision to cut basic tax by only two pence in 1987 88 was the right balance economically and politically he said
banks built up minimum reserves today ahead of the expected outflow
penner questioned the methods by which the 1987 budget deficit was cut
at the end of 1985 the bank with 138 billion baht of assets was ranked 12th among thailands 16 local commercial banks
we have seen that the failure of the world trading system has caused great depression and conflict in the past
foreign creditors may get permission to convert loan balances and short term claims into equity investments in south africa
the company said the offering is being made at 3050 dlrs a share
the rise compares with a revised 148 billion mark increase in january and a 22 billion rise in february 1986
economists said the fourth quarter figures were also distorted by the governments sale of gold coins in the second half of 1986
the closing was delayed because that decision was appealed by four parties to the us court of appeals gencorp explained
chinas application to join the general agreement on tariffs and trade gatt is seen as a test case by the soviet union which will probably demand to follow china a top european community official said
trustcorp inc ttco 1st qtr net 
the spokesman said jefferies had cooperated with the agency and had heard nothing more since that time
trimac ltd year net
z seven fund inc said it expects to earn six dlrs a share in 1987 up from 420 dlrs a share in 1986
these holdings had a rate of return of 135 pct in the year which was below the caisses average return of 16 pct in the past four years and 142 pct in the past eight years
brougher insurance group inc bigi 4th qtr loss
the debentures have an 8 3 4 pct coupon and were priced at 99375 to yield 125 basis points over the off the run 9 1 4 pct treasury bonds of 2016
non official capital and balancing item showed a 36 mln dlr deficit against a 133 billion deficit in january and a 392 mln surplus in february 1986 the bureau said
fleet financial group said that its board and the board of norstar bancorp have agreed to merge the two bank holding companies in a transaction which would create a 23 billion dlr asset bank holding company
japan foreign shipbuilding orders rise in february
operators are now waiting to see if the g 7 nations coordinate dollar buying intervention said soichi hirabayashi deputy general manager of fuju bank ltds foreign exchange department
taiwan had a trade trade surplus of 156 billion dlrs last year 95 pct of it with the us the surplus helped swell taiwans foreign exchange reserves to 53 billion dlrs among the worlds largest
the central bank made outright purchases of bank bills comprising 100 mln stg in band one at 9 7 8 pct 56 mln stg in band two at 9 13 16 pct 112 mln stg in band three at 9 3 4 pct and 16 mln stg in band four at 9 11 16 pct
qtly div five cts vs five cts pay april 30 record april 15
report due on oil imports and national security
the six basis point rise of the past month in us debt futures may be extended next week by a series of us economic reports analysts said as long as the dollar holds firm
florida progress corp fpc 1st qtr net
japan understands us attack on iran oil platform
el salvador will tender october 26 for approximately 26000 tonnes soybean meal valued at up to 56 mln dlrs and about 24500 tonnes bulk corn with a value of 20 mln dlrs under pl 480 financing an agent for the country said
he noted hungary had been given an aa rating enabling it to raise money on the japanese samurai bond market
shr 43 cts vs 52 cts shr diluted 41 cts vs 49 cts net 1916000 vs 2281000 revs 326 mln vs 226 mln
the february index was down one pct from a year earlier for the third consecutive year on year drop
physicians insurance co pico 4th qtr net
assets 200 billion vs 186 billion loans 1293 billion vs 1223 billion deposits 1181 billion vs 1110 billion 3rd qtr 1987 reflects previously announced aftertax gain of 163 mln from recognition of pension plan over funding and 139 mln of tax benefits from the three billion provision
the netherlands is at present the biggest importer of indonesian cocoa beans
the products are gynex 1 35e and gynex 05 35e
countrywide credit industries inc said its board declared an eight ct per share quarterly dividend up from seven cts last quarter and a two pct stock dividend
asked if the committee did not need to meet soon to narrow the gaps in the prices of the various opec crudes fixed in relation to the 18 dlr benchmark lukman replied we consider the defence of our prices much more crucial than differentials lukman said opec was aware that consumers had heavily drawn on stocks of both crude oil and refined products to levels well below this time last year and soon they would return to the market in search of crude
the increases in beet plantings have especially caused concern among cane growers who have not expanded plantings particularly in hawaii industry officials said
profits of many thai banks fell sharply last year partly because of a mismatch of loan demand and bank deposit growth
the united states does not expect the executive board meeting of the international coffee organization ico to call for a new round of negotiations on reinstating coffee quotas a us government official said
wheat hrw hrs srw sww durum chicago 304 298 ill
the company last week had stated that a number of domestic and international oil suppliers were demanding cash for oil shipments and in some cases had cut supplies altogether
s k i which owns killlington and mount snow ski resorts in vt said the california ski area is located in the san bernardino mountains
flowers industries inc flo hikes payout
the debt has an average life of 179 years and matures in 1992
valhi said effective december 31 it changed its fiscal year end from june 30 to december 31
japans gross national product gnp rose a real 08 pct in the october december quarter after an upwardly revised 07 pct increase the previous three months the economic planning agency epa said
payment was due april 16 and a quotation on the luxembourg bourse was planned
the agency will have to review its policies on insuring export credits to lesser credits on a country by country basis he said
the department said the acquisition is not likely to substantially lessen competition and would not harm the public interest
ford motor co neared general motors corp last year in executive bonuses while it topped the larger automaker in profit sharing payments to workers
uk may adjusted m3 rises provisional 21 pct m0 up 05 pct bank of england
speaking to journalists one day after the group of seven countries reaffirmed goals set in paris six weeks ago he said central banks would continue to intervene as and when necessary he said the g 7 countries were concerned that japan do more to stimulate domestic demand and welcomed measures outlined by japanese finance minister kiichi miyazawa yesterday
the staffer said under the measures passed by the committee the secretary of defense would have more influence over decisions to keep or sell strategic stockpile materials
the program is guaranteed by the government of queensland
asked whether the us could reasonably ask its allies to take action to stimulate the world economy without a bold american initiative to reduce the size of the federal budget deficit shultz said moves were already underway to tackle the problem
he said only that the company was reviewing a number of possible alternatives for the fairchild unit
gaf has raised its offer to 48 dlrs a share cash
consolidated natural cng forms trading unit
deputy state department spokeswoman phyllis oakley said the trip is set for april 6 to 8
in addition the returns in the fitness club industry are just not as high as they are in the gaming industry said one analyst
the americans will just reply that the poles acted immorally in crushing solidarity nevertheless polish national bank head wladyslaw baka in talks in washington last week with the international monetary fund imf and world bank made it clear that poland was looking for a lead from the united states
shr 15 cts vs 16 cts net 239034 vs 264485 sales 2932782 vs 2664853 year shr 57 cts vs 45 cts net 929524 vs 741121 sales 109 mln vs 9708792
co lead is pru bache securities
qtly div five cts vs five cts prior pay may 13 record april 14 note company said up to 20 pct of dividend payment may be withheld in accordance with puerto rico tax law
analysts said such a merger would be costly and complicated
all other terms of the issue remain the same salomon said
other bank stocks also rose strongly and dealers cited speculation already in the market that deutsche bank ag dbkgf would make a similar move
salomon brothers inc is exclusive agent for purchase of the notes time said
turnover in the first five months rose particularly strongly in the installations and automotive technology communications and telecommunications sectors but components and energy and automation showed a sharp decline
atco ltd sees gain from sale
japans trade surplus in nominal terms is likely to remain high in the near future the central bank said
grains usuaually break dormancy in march
but amcs future to be discussed at a board meeting today would be radically different as a chrysler subsidiary than if it had continued with the state run french car group as its controlling shareholder
the harvest this year should be around 30 mln bags he added
official statistics show a reduction in consumption of vodka but this is a deceptive statistic it does not count home brew pravda said
afgs healthy cash flow and pro forma cash balances of 169 mln dlrs at september 30 1986 should be adequate to fund internal expansion and moderate acquisitions
we may have an increase in gnp starting in the second quarter he said in an interview
the notes have a 7 1 2 pct coupon and were priced at 9975 to yield 756 pct or 74 basis points more than comparable treasury securities
the news did come as a very very substantial relief he said
opec believes world oil prices should be set around a fixed average price of 18 dlrs a barrel oapec assistant general secretary abdelaziz al wattari said
it added that proposals are due back by august three
moduline international mdln 3rd qtr oper loss
dreyers said the restatement reduces net income for the full year to 5914000 dlrs or 80 cts per share
however fixed charge coverages will remain very thin until the companys markets improve d and p said
last year laidlaw had operating earnings of 662 mln dlrs or 63 cts per share on revenues of 7178 mln dlrs
edouard kouame ivorian delegate to the international cocoa organization icco was chosen executive director of the icco effective october 1 icco officials said
shr 72 cts vs 52 cts net 386 mln vs 25 mln revs 2818 mln vs 1745 mln avg shrs 535 mln vs 482 mln note 1987 1st quarter amounts do not includes sales of avia group international inc acquired at the end of the first quarter
he said about 1000 employees of anglo american corps new vaal colliery also downed tools but the reason for the stoppage was not immediately clear
synthetic industries is offering 110 mln dlrs of senior subordinated debentures due 1999 yielding 11 5 8 pct said sole manager merrill lynch capital markets
i regret not being able to attend an invitation by president weizsaecker to a dinner tonight because i am on a hunger strike lechin told reporters
equitable life leasing corp is a subsidiary of equitable investment corp which is owned by the equitable life assurance co of us lomas said the acquistion price will consist of one mln in cash 15 mln shares of the companys common stock 71000 shares of a new series c preferred stock and 8944 mln dlrs principal amount of nine pct senior notes due 1994
they say the countrys consumers who have been spending at a torrid pace in recent years will sharply curtail outlays this year and this should help curtail the flow of imports into the country
ended jan 31 shr nine cts vs eight cts net 246000 vs 369000 revs 204 mln vs 112 mln avg shrs 2123000 vs 1882000 note 1985 restated
the call money declines surprised some dealers who speculated it was because the bundesbank disbursed further government funds today
lets wait and see how the offer runs another official declined to speculate under what circumstances bp might raise its bid
but ortiz said the bank cannot divert too much of its resources to so called sectoral lending whereby loans to specific sectors are tied to economic reforms because this could affect the banks triple a rating as a borrower in world markets
any acquisition must have a different economic cycle to copper he said
the largest industrial countries have been attempting to coordinate economic policy in the hope of controlling the decline of the dollar us trade and budget deficits and other problems
the fiercely contested tax would be a levy on consumers and steeply increase the costs of industries such as potato processing and cake and biscuit manufacturing de bruyn said
diaz said australian brewer alan bonds bond corp holdings ltd had offered 150 pesos per share for the b shares
they have been negotiated under the rules of gatt general agreement on tariffs and trade but officials said ministers had been unable to resolve canadian claims that its sales of certain fish to spain had been affected by the countrys ec membership
but in response to a question the executive said a volume falloff in the overall product category is a concern to us oreilly said weight watchers continues to perform well and will generate revenue in fiscal 1987 of approximately 940 mln dlrs
american airlines inc is expected to announce purchases from airbus industrie boeing co ba and general electric co ge amounting to 25 billion dlrs the new york times said
iberica del cobre makes tubes rods rolled and drawn copper and alloy products and its sales of 87000 tonnes of output in 1986 amounted to 22 billion pesetas
people who follow santa fe have given me values of 45 dlrs to 50 dlrs a share said dlj securities hassenberg
irving bank corp 1st qtr shr 151 dlrs vs 162 dlrs
in addition a rise in note circulation and bankers balances below target will each drain around 110 mln stg
hata speaking at the first session of the two day meeting said agriculture is no exception to the goal of restructuring the economy but did not elaborate
given the system of floating exchange rates it was necessary for central banks to agree to intervene
first quarter results will be dramatically better he said following a presentation to analysts
it gave no details of the repayment terms of the loans
vieille montagne says 1986 conditions unfavourable
lichtblau said that the renegotiations would most likely concentrate on volume rather than price
sterling drug inc said it sold the assets of its subsidiary greene dental products inc to rinn corp of elgin ill
ongpin said that by funding current interest payments in the secondary market through the pins scheme the philippines could conserve at least one to 15 billion dlrs of foreign exchange reserves during its planned seven year restructuring period
the energy department said it had approved in final form an agreement that resolves all remaining issues with shell oil co over oil pricing and allocation controls that ended in 1981
fees include a one pct combined management and underwriting and a one pct selling concession
salomon brothers international inc said it has raised the size of its collateralised mortgage obligation trust 23 to 350 mln dlrs from the 228 mln dlrs announced yesterday
analysts said that the drop in bank stock prices is likely to depress the level of mergers and acquisition in the banking industry
coopervision eye delays annual meeting
the increase of 319000 in non farm payroll employment during february was above market expectations for a rise of 170000 to 200000 jobs and sparked selling in treasury bond futures that drove the june contract through key technical support at 101 2 32 at the opening friday they noted
iwc lifts world grain output estimate to record
the original target date to resume limited crude output was may eight the scheduled date for the inauguration of the lago agrio to puerto colon pipeline an energy ministry spokesman said
safety kleen corp said it has tentatively agreed to buy an 80 pct stake in breslube enterprises of toronto for 14 mln dlrs in stock cash and equipment
shr 40 cts vs 31 cts net 5151000 vs 4078000
the minimum issue unit will be 100 mln yen and maturities will be from 30 days and six months they said
a detailed report will appear in the march 9 s p creditweek
venezuelan central bank president hernan anzola has submitted his resignation and asked president jaime lusinchi to transfer him to a post in the oil industry two leading venezuelan newspapers reported
enrollment will be in the range of seven to 12 mln acres usda conservation specialists said
each has rated some 20000 to 30000 us and about 100 japanese issues
the biggest output rises in the 12 months to end january were 2368 pct in pharmaceuticals and 2212 pct in machinery
shr loss 487 dlrs vs profit 16 cts net loss 50422000 vs profit 1788000 revs 1134 mln vs 1737 mln note current year figures include 333 mln dlr after tax writedown of land and improvements a 56 mln dlr increase in allowance for doubtful accounts and after tax gain of three mln dlrs on debt retirement
southland has been advised that the commission has issued a private order of investigation concerning the trading of southland stock during various times in 1987 and the issuance of various public statements by southland southland said in a proxy statement to shareholders
fabrique nationale herstal sa fnhbbr said it suffered a net loss of 299 billion francs last year after being hit by strikes the falling dollar and declining oil prices
douglas computer international year end 1986
hk hotels soars on takeover speculation
i dont have any doubt that the current transaction can be worked out and completed provided we get to the point where ami management will sit down and talk in a friendly environment pesch said
the allowance for loan losses was 2248 mln dlrs up from 1852 mln a year earlier
traders even disagreed about last weeks closing levels for the convertible bonds but a median appeared to be around 97 to 99 pct
it said in a report that the future of the swedish refining business was bleak due to the steady drop in domestic oil consumption since the mid 1970s a possible tightening of rules on sulphur content and competition from norways mongstad facility of den norske stats olieselskab statoil statol when its expansion is completed in the 1990s
eldorado bancorp eldb sets 10 pct dividend
the two year notes and the four year notes will be issued march 31 and the seven year notes april 1
prior year 2nd qtr and six mths excludes a loss of 54686 dlrs and 112565 dlrs for discontinued operations
ccc accepts wheat bid for w africa countries
the reports earlier this week said that cable would be offered a five pct stake up from an originally proposed three pct
andriessen said the commission plans to present revised proposals along these lines in an effort to get a scheme agreed
it added the council believed an intensification of the already expansionary stimulation of monetary and financial policy is not called for osts statement said experts believed further pressure on west germany to adapt to external economic factors would not increase
oper net loss 411000 vs profit 875000 sales 697 mln vs 705 mln year oper net profit 6258000 vs profit 4785000 sales 2995 mln vs 2972 mln note company made initial public offering in june 1986
joseph light saj 3rd qtr net
opinions among delegates over the potential for reaching a quota agreement varied widely
malaysian miners criticised the us for violating an agreement with southeast asian producers by selling more stockpiled tin in 1986 than agreed
the administration feels that the current course of monetary policy is appropriate white house spokesman marlin fitwater said
implementation of a one year 0 92 pilot program for wheat and feedgrains was strongly promoted today by the chairman of a key house agriculture subcommittee as a way to cut farm costs and simultaneously give farmers another option when making their planting decisions
penney said it will establish an independent merchandising and marketing organization to manage and support the shops which will be staffed by personnel both from within and outside the company
boakes pointed to a rise in the narrow money measure m0 to 52 pct year on year from augusts 45 pct growth which he said must cause some concern at the treasury
producers intend to present a single candidate for the post and this is most likely to be edouard kouame from ivory coast they said
shr loss 30 cts vs loss 43 cts net loss 891000 vs loss 969000 revs 1930000 vs 1815000 avg shrs 29 mln vs 22 mln nine mths shr loss one dlr vs loss 136 dlrs net loss 2622000 vs loss 3037000 revs 4638000 vs 4105000 avg shrs 26 mln vs 22 mln
in a filing with the securities and exchange commission the group said it sold 19500 material sciences common shares between feb 11 and 19 at prices ranging from 2400 to 27648 dlrs a share leaving it with 239500 shares or 47 pct
cis cisifo agrees to second extension
microsemi said the purchase includes the fixed assets software inventories technology intellectual properties and other business operations of hci
other eurofranc bonds this month are likely to include issues by a bank and a company both unidentified but no other details were available
any further privatisation revenue this year above the 30 billion would be distributed between repayment of national internal debt and public companies in similar proportions they added
and rochester minn
the company anticipates that the price of the offering will range between 13 dlrs and 15 dlrs a share
meanwhile the systems last realignment the 11th since it was set up prompted european finance ministers to ask the ecs highly secretive monetary committee and committee of central bank governors to come up with suggestions for reinforcing it
the government last week revised its forecast up to between 24 and 25 pct from two pct against last years 21 pct
uk unemployment falls in february
the certs program is not in any way a windfall to the trade he said
bolivia to offer to buy back bank debt
the ministers were also due to discuss proposals in the us congress for a range of protecionist legislation such as a bill that would curb ec textile exports
qtly div 15 cts vs 15 cts prior payable may one record april 10
icahn drops bid for twa twa 
large initial costs for these products have depressed net profits somewhat
kohlberg kravis roberts and co also owns 497 pct of union texas and the remainder is owned by management
parent company net profit last year rose to 995 mln francs against 711 mln in 1985
in new delhi an indian spokesman said the plan to send a flotilla of 20 small unarmed boats with red cross supplies to jaffna tomorrow would go ahead despite colombos objections
panin holdings reported a loss of 199 mln hong kong dlrs in 1986 after a net profit of 268000 dlrs in 1985
at least 26 people died when a car ferry struck a pier as it left belgium for britain a nurse who took part in the rescue operation said
oper shr profit two cts vs loss 19 cts oper net profit 523000 vs loss 2191000 revs 1025 mln vs 399 mln avg shrs 200 mln vs 111 mln year oper shr profit 11 cts vs loss 29 cts oper net profit 2240000 vs loss 2884000 revs 3044 mln vs 503 mln avg shrs 194 mln vs 9759000 note 1986 4th qtr and year oper net excludes a gain of 492000 dlrs and 1241000 dlrs respectively for carryforwards and a loss of 135000 dlrs and 533000 dlrs respectively for early extinguishment of debt
cale as president and chief executive officer when he retires on april 1 1988
coffee futures at six year low under 1 dlr lb
dalton communications inc dalt 3rd qtr jan 31
rooter said the agreements were rescinded din light of this additional information without providing details
nogales said bolivia would offer to buy back the debt at a market price
the yens rise against the dollar is expected to boost japans unemployment rate to an average 33 pct in the 1987 88 fiscal year beginning april 1 from januarys record three pct the private nomura research institute said
purolators stock price closed at 35125 dlrs on friday
shr loss 14 cts vs profit 26 cts net loss 384000 vs profit 714000 revs 8367000 vs 9909000 year shr profit 19 cts vs profit 57 cts net profit 518000 vs profit 1547000 revs 287 mln vs 267 mln note includes income tax credits of 302000 dlrs and 13 mln dlrs in 1986 and 1985 respectively and 602000 dlrs in 1985 qtr
with countries like indonesia and malaysia stepping up production of palm oil a coconut oil substitute palm oil output had risen nearly 70 pct since 1971 romero said
some analysts see crude stocks falling by as much as six mln barrels while others think they could go up as much as 35 mln barrels
the b free shares closed at 1650 crowns on the bourses unofficial list down from a peak of 300 in january 1986
chinas summer grain harvest may be good despite a serious drought because the state council cabinet has spent one billion yuan on irrigation and other anti drought work a hong kong newspaper said
since the acquisition lilly has repurchased 20 mln warrants so there are currently 151 mln outstanding
as a result it said the former burdett publications owners have a claim for damages against dale burdett as successor to nolex for one yuear starting january 21 1987 with the damages measured by the difference in values of shares exchanged plus interest from february 20 1986
brent to buy lonrho division proposes rights
but they are believed to have not yet sold most of the corn to end users in anticipation of further corn price rises in the world market
byers agreed there was potential for the june canadian dollar to rally above the 7700 cent level from the most recent close at 7480 cents to the us dollar
dynascan corp said it completed the sale of its industrial electronic products group and expects to recognize about a 30 mln dlr pretax gain on the transaction in the fourth quarter
total us domestic usage of the nine major oilmeals rose to a record 19 mln tonnes in october 1986 august 1987 up 42 pct on the same year ago period with the increase in soymeal at seven pct it said
the company said the transaction involved assets valued at more than 83 mln dlrs
amoskeag bank said it signed an agreement to acquire entrepo financial resources inc a philadelphia based company which leases and remarkets high technology equipment
lincoln national corp lnc sets quarterly
the student loan marketing association said its rates on short term discount notes were as follows maturity new rate old rate maturity 5 14 days 565 pct 560 pct 5 14 days 15 78 days 500 pct 500 pct 15 81 days 79 85 days 583 pct 575 pct 82 88 days 89 360 days 500 pct 500 pct 89 174 days 585 pct 175 180 days 500 pct 181 360 days
equity investment company battery group ltd said it had agreed to buy occidental life insurance co of australia ltd from transamerica corp ta of the us for 105 mln australian dlrs
bank of japan governor satoshi sumita said he does not expect the dollar to remain unstable and fall further
de clercq told journalists there is a certain nervousness a growing impatience within the community on trade relations with japan but diplomats said the community is keen to continue talking with tokyo to try and solve the problem rather than embark on a costly and damaging trade war
record date of the split will be april 21 kiena said
the ministers have said they want to maintain the momentum towards fresh negotiations or avert serious trade conflicts
alden earned 1357000 dlrs last year
some gilt traders are forecasting a half point cut in the base rate from the current 11 pct as early as tomorrow
the takeover battle for the toulouse based company which controls eight pct of the french industrial gas distribution market began on april 2 with an offer of 2100 francs per share from union carbide france uk agas offer which puts a price of 587 mln francs on the company closes on june 24 and the results will be announced on july 21
the department said in a statement seasonally adjusted but non smoothed figures showed a deficit of 99 mln dlrs against 76 mln dlrs in march and 230 mln dlrs in april 1986
baker urges banks to mull new loan plans
he said that a sizable increase in first quarter gnp stemming from an increase in inventories will be a drag on second quarter growth
benefits to the united states would be fewer than those to canada proportionately he said because of the already large us gross national product
michigan general corp said it has extended its exchange offer for its 10 3 4 pct senior subordinated debentures due december 1 1988 until april 23
shr loss six cts vs loss 18 cts net loss 89478 vs loss 178507 revs 3894844 vs 1964141 avg shrs 1582790 vs one mln year shr loss 43 cts vs loss 81 cts net loss 534099 vs loss 811836 revs 122 mln vs 5167573 avg shrs 1251337 vs one mln
to fitness inc tfit year dec 31 loss
canada february consumer prices up 04 pct
he did not say whether the talks with taft officials led to any agreements or understandings
stoltenberg said in bonn today that he had already told funaro that the unilateral moratorium was a mistake
humana inc hum regular dividend
the previous weeks m 1 level was revised to 7382 billion dlrs from 7380 billion while the four week moving average of m 1 rose to 7382 billion dlrs from 7372 billion
the cbt spokesman stressed that discussions were very preliminary at this stage and nothing was likely to begin until this summer at the earliest
we dont see any substantial reason to change our policy stance one senior official said
dealers said federal funds were trading at 6 1 2 pct when the fed began its temporary and indirect supply of reserves to the banking system
non durable goods sales rose by 13 pct to 7558 billion dlrs in february after falling by 02 pct in january the department said
citgo raises crude postings 50 cts today wti to 1750 dlrs bbl
it offered one month funds at seven pct through swap facilities dealers said
tbg formerly known as thyssen bornemisza group reports in dlrs since december 1 1984 the start of the 1985 financial year
at the beginning of the conference the fourth such meeting in nearly two years xuto said it was imperative to settle those issues this week so that technical drafting work can be done next week
amcast said newmans kendallville indiana plant is one of the countrys largest producers of gray iron castings for the automotive and commercial air conditioning and refrigeration industries
qtly div three cts vs three cts prior pay april 30 record april 16
fleet financial flt may be upgraded by moodys
m 2a similar to m 2 but excluding certificates of deposit and including proceeds from bank repurchase operations rose a provisional 20 pct seasonally adjusted over the three months to end january 1987
he said he expected amendments to the bill also would cover defensive mechanisms such as green mail and poison pills
under athe agreement ltv said it will convert about 435 mln dlrs of outstanding secured debt of certain subsidiaries into a new revolving credit facility
cross said he proposed in a letter to harper and row that the company be merged into a company cross is forming
gencorp has agreed to sell its new york area television station wor to mca inc mca for 387 mln dlrs and its los angeles station khj to walt disney co dis for 217 mln dlrs
more
other members are algeria kuwait saudi arabia libya nigeria and qatar
traders and analysts said the unexpectedly large yield increase outweighed the anticipated drop in box count
lone star said three of the terminals are located in alaska one in seattle and the other in portland ore
sheet prices fell by a rupee in the same period
net consolidated profit after deduction for minorities 652 billion francs vs 540 billion
morrison projects phelps will earn 325 dlrs in 1987 and four dlrs in 1988 while roling sees earnings at 275 dlrs this year and around 350 dlrs next year
agip carbone will invest 24 pct or 120 mln dlrs in the project it said
venezuelas biggest private company la electricidad de caracas will meet with bank creditors in new york on monday to discuss the danger of a default on its 622 mln dlr foreign debt a company spokesman said
the income payments would be based on the amount of commercially recoverable sugar produced by a farmer in the 1985 or 1986 crop years whichever is less usda said
shr 19 cts vs 17 cts net 767000 vs 676000 revs 9476000 vs 9091000 six mths shr 47 cts vs 44 cts net 1897000 vs 1719000 revs 195 mln vs 19 mln note full name paco pharmaceutical services inc
but is too early to say what they will be and more rain is needed to restore sub soil moisture
shr 26 cts vs 18 cts net 5281000 vs 3496000 revs 488 mln vs 321 mln nine mths shr 64 cts vs 51 cts net 129 mln vs 9822000 revs 1290 mln vs 892 mln
us monetary officials may refrain from making any comments this month to avoid influencing rates they said
gulf states said the banks had requested the utility to begin making prepayments by the end of april of 45 mln dlrs more than the estimated 1987 lease payments of 40 mln dlrs
iranian premier mir hossein mousavi reiterated his country would retaliate for us navy attacks on gulf oil platforms
anz banking group cuts prime rate to 1600 pct
volcker urges quick aid to debtor nations
the adelaide steamship co ltd adsas adsteam said its one for five rights issue at 1150 dlrs a share will raise 2285 mln dlrs for general working capital and investment both in australia and overseas
co operative bancorp cobk raises quarterly
total capital including shares attached to warrants is 6788 mln shares
listing is in luxembourg
theres something for everybody he said
those expecting a draw of as much as four mln barrels said they are looking for fairly high consumption rates as the spring and summer driving season gets underway this year because retail prices are still low compared to recent years
he said his government would oppose such a move because we do not think it is correct that a shortage of funds to support ec farmers should be alleviated by raising money at the consumers expense
according to the 230 mln stg contract lombard north central an affiliate of national westminster bank plc nwbll will build and lease plants for engine assembly body panel pressing and resin moulding by 1988
saturdays cattle slaughter is guesstimated at about 20000 to 40000 head
period ended feb 28 shr 466 dlrs vs 440 dlrs net 1048884000 vs 959626000 revs 543 billion vs 504 billion avg shrs 200242000 vs 191840000 note per share earnings reflect payment of preferred dividend requirements
roses stores inc reported february sales of 927 mln dlrs an increase of 181 mln dlrs or 242 pct from sales of 746 mln dlrs in the comparable period the year prior
and theyve gone all over the world and at every stop theyve been told the same thing the official said brazil would have to enact a credible economic program either in consultation with the world bank or the international monetary fund to cool its overheated economy before commercial banks would begin negotiations
coffee fall not seen affecting colombias debt
dai nippons share price rose 20 to 1800 yen on the tokyo stock exchange today
santa fe in its petition outlines an array of pro competitive agreements with other railroads which would preserve the economic benefits of the merger for the merged railroad and the public
german feb current account surplus 66 billion marks jan surplus 48 billion official
brown and sons inc absb to explore a possbile sale of the company
it said this trend will continue because of latin american debt problems
the measure however does not require reagan to comply with the 1973 war powers act which could lead to a pullout of us forces from the gulf
but guillaumes warning that he would reject reorganisation of the ec cereal and sugar markets france being a major producer of both crops won him warm applause from the fnseas farmers
pests and disease which destroyed 11 mln tonnes of wheat in china in 1986 are threatening crops on 1164 mln hectares this year the china daily said
reagan said he ordered the strike on the first platform by four us destroyers which fired about 1000 five inch shells at the rostam oil rig 120 miles east of bahrain in the central gulf
japan has frequently been the target of congressional discouragement over last years record 169 billion dlr trade deficit
west german bundesbank president karl otto poehl encouraged the us not to cut interest rates in january when the bundesbank cut its own rates by half a point to avoid weakening the dollar
as previously announced lanes shareholders will receive 15 shares of interco common stock for each share of lane stock held
cycare cycro buys control data cad unit
non refundable for 10 years the debentures will be subject to a sinking fund beginning in 1998
shipments of the 3090 mainframes were very strong in march after a weak january and february said ulric weil of washington based weil and associates
each class b share has 100 times the voting power of a class a share giving the class b stock about 93 pct of resorts voting power
prospects for growth in petrochemical sales is good as long as economic growth continues but future large grain surpluses could dampen fertilizer demand and maintain pressure on prices
the denominator chosen by central bank governors has not been disclosed but some bankers expect the currencies to be linked to the sdr or a trade weighted basket
marcos was toppled by a military civilian revolt in february 1986
shr 23 cts vs not reported net 282000 vs 1000 sales 186 mln vs 187 mln six mths shr 48 cts vs 17 cts net 583000 vs 213000 sales 378 mln vs 375 mln note 1987 six months net includes a loss from discontinued operations equal to two cts a share
cuban sugar output seen at 75 mln tonnes
franklin massachusetts insured cuts payout
home savings bank said its board declared an initial quarterly dividend of nine cts per share payable april 30 record april six
london based trader cargill uk ltd confirmed it sold one cargo of white sugar to india for shipment april 15 may 15 at yesterdays tender
the amount of a convertible eurobond launched on friday for metal box plc mbxll has been increased to 65 mln stg from the original 60 mln and the coupon has been fixed at 5 3 4 pct swiss bank corp international ltd said as lead manager
however the call will not be before 1992
amcast industrial corp acsto 4th qtr loss
elders ixl ltd of australia said wholly owned ixl holdings canada inc extended its previously announced offer to acquire all outstanding shares of carling okeefe ltd to midnight april 23 1987 from march 25
kokusan kinzoku kogyo co ltd kkk a japanese autoparts maker owned 25 pct by nissan motor co ltd nsant has exchanged a memorandum to acquire over 50 pct of us autoparts firm master cast co to avoid losses on us sales caused by the yens rise against the dollar a kkk spokesman said
the margin will be 1 2 point over libor in years one to four 5 8 point over libor in years five and six and 3 4 point over libor thereafter
the drug division far and away brings in the highest rate of return said aw clements finance director of ici who was also at the meeting
shr 99 cts vs not given net 1943000 vs not given nine mths shr 235 dlrs vs not given net 4602000 vs not given note full name is gateway federal savings and loan association
hillards shares were last quoted at 324p compared with last nights close of 313p
asked if opec would increase production if prices went above 18 dlrs a barrel he said this would be decided at the next opec meeting in june
the bank said m 2a totalled a provisional 583806 billion lire at end january against a downwards revised and still provisional 593827 billion in december 1986
shr 74 cts vs 67 cts net 8067000 vs 7317000
industry commissioner karl heinz narjes has proposed the ending of the quota system by december 1988
the loan was signed here today in the offices of the caracas based caf by the corporations president galo montano perez and ecuadorean ambassador antonio parra gil
qintex said the letter of credit is to insure payment of princevilles contingent subordinated notes that would be distributed to shareholders of record on the date immediately following completion of the tender offer
asked if opec would increase production if prices went above 18 dlrs a barrel he said this would be decided at the next opec meeting in june
although sympathetic to ecuadors plight many banks in the paribas facility feel that emergency financial relief is a job for international financial organizations and not for commercial banks bankers said
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
however olivetti had made no decision on any such investment and did not have at its disposal information to evaluate such a move
on march 10 tesco launched a 1514 mln stg bid for hillards
allegheny said the offer is conditioned upon the valid tender of stock representing a majority of the voting power and at least two thirds of outstanding shares of preference stock and preferred stock
french treasury details planned tap issue
these agreements together with others for argentina and we hope brazil should assure substantial new loans this year mulford said
the cargo priced at 24910 us dlrs per tonne c and f taiwan is set for delivery before july 7 he said
theyve been on a rampage against foreigners the broker noted that two months ago venezuelas central bank quietly announced that banks doing foreign exchange business outside venezuela would have to respect a new 200 pct reserve requirement
the government of prime minister anr robinson is hoping to lue new investors to the twin island states petrochemical industry in order to make use of new findings of natural gas
michael krupp a golden colo businessman and major shareholder of kappa networks inc said he and kappas management are considering seeking a merger between kappa and radiation systems inc
the european commission confirmed it authorised the export of 60500 tonnes of current series white sugar at a maximum rebate of 43147 european currency units ecus per 100 kilos
britain has often lined up against west germany on the farm reform issue in the past but is keen to avoid measures that could spark a damaging trade war with the us foreign ministers were unlikely to take a decision on either the oils and fats tax or the mca proposals today diplomats said
the new association is to be known as victor savings and loan association and its assets continue to be insured by the federal savings and loan insurance corp the fhlbb said
the us agriculture department said its summary report on the feed situation and outlook scheduled for release april 24 has been delayed until may 15
the figure for the unprofitable firms was up from 21 billion dlrs in the third quarter of 1986 it said
the national pork producers council nppc announced at this years american pork congress apc that the congress and trade show will be divided into two parts in 1988
the worlds deadliest single peacetime incident at sea was the sinking in 1912 of the titanic with a loss of 1500 lives
we regard this as a test case she told parliament
gordon would have the same posts with safco and independence president ronald g
the irish agriculture department issued a colorado beetle alert today after three of the beetles were found in a box of parsley imported from france
italian prime minister giovanni goria told the cabinet on monday he was worried about the increased tension in the gulf but said americas retaliation against iran had been limited
mitsubishi finance is also dealer of the facility which is the first of its kind for a japanese bank in hong kong
rowan cos inc rdc 1st qtr loss
shr profit six cents vs loss 10 net profit 81 mln dlrs vs loss 71 mln sales 5119 mln vs 3978 mln avg shrs 970 mln vs 905 mln year shr loss 38 cents vs loss 110 dlrs net loss 246 mln dlrs vs loss 915 mln sales 187 billion vs 148 billion avg shrs 917 mln vs 898 mln note current year figure includes previously announced 15 mln dlr restructuring charge
all requests for export licences for free market feed wheat and barley were rejected they said
among the assets being acquired are its polyphenyl business worldwide including biphenyl and the heat transfer fluid gilotherm th together with associated manufacturing and application technology monsanto said
technodyne inc tnd 2nd qtr net
kg saur the german based publisher of databases and legal and bilbiographic reference material said it has sold all of its assets to the butterworth group a division of reed international plc reedl for under 15 mln dlrs
the bank cannot maintain an adequate lending level unless it is given increased resources iadb president antonio ortiz mena told a press conference
by contrast rudolph penner director of the congressional budget office said the budget process has broken down and the deficit will remain close to 200 billion dlrs for fiscal 1987
as of march 30 there were 556 mln dlrs of debentures outstanding
another 56 miners were trapped underground for as long as 24 hours before they were brought to safety
barnes noted that mellon has a bigger involvement in energy based lending than many other banks
the us action will have a significant impact on the growing anti us feeling here another miti official said
shr 122 dlrs net 278 mln vs 286 mln nine mths shr 388 dlrs net 874 mln vs 987 mln assets 103 billion vs 84 billion deposits 74 billion vs 67 billion loans 79 billion vs 60 billion note full name is dime savings bank of new york
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
new bank rules tougher than needed dealers say
the us civilian unemployment rate fell to 66 pct in march from 67 pct in february the labor department said
the last series of three month paper issued in march raised 1473 mln francs at an issue price of 99142 pct giving an average annual yield of 3501 pct
dorsey corp said it completed the sale of substantially all its dorsey trailers inc subsidiary assets to trailer acquisition corp whose stockholders include a former dorsey vice president and several executives of the dorsey trailers management team
the international share in turnover was 50 pct in 1986 compared with 52 pct in 1985
the economy will bounce back more strongly than many expect brusca said
boston five has assetsof 19 billion dlrs and 35 officers
but monthly inflation throughout the oecd was an average 04 pct in january a rise compared to the 02 pct in the last quarter
coffee export quotas were suspended a year ago when prices soared in response to a drought which cut brazils crop by nearly two thirds
an analyst of soviet agriculture at usda noted that a recent article in izvestia said soviet grain production in 1988 is planned to be 25 to 30 mln tonnes more than expected this year this indicates that their own estimate is for a 205 to 213 mln tonne grain crop the analyst said
neither party would reveal financial details of the deal initially announced in october
pennzoil pzl sees lower first qtr
both sides gave evidence to the all party standing committee on social affairs today but committee members said they saw little chance of parliamentary intervention
canada to monitor steel imports exports
the bills will be issued april 2
1986 and 1985 net include loss of 3512000 dlrs and 5944000 dlrs respectively for equity in welltech and predecessor operations
the trade missions would seek to generate interest in the us governments food donation and commercial programs pl480 section 416 export credit and export enhancement and upon return be required to advocate extension of concessional or commercial benefits to interested countries
shr 24 cts vs 13 cts net 380325 vs 211183 sales 5046578 vs 3941764 note current year net includes gain from sale of sterling heights mich plant of 174000 dlrs
japan carefully considering money policy sumita
the current contract expires at the end of march
it said assays from zone one averaged 0809 ounces of gold a ton
american express board approved nippon life purchase of shearson interest
net profit 890 mln luxembourg francs vs 112 billion
cyacq said it hopes cyclops shareholders will withdraw previously tendered shares from dixons tender offer to take advantage of cyacqs higher offer the secs order came after cyacq filed suit to block dixons from taking control of cyclops and to force an extension of dixons tender offer
horowitz and mike warren it said
on existing loans at that date the measures would apply to interest arising from april 1 1988
this brings its total assistance on the day to 346 mln stg compared with a liquidity shortfall it estimated at a revised 250 mln stg
the readers digest association inc said it sold its subsidiary source telecomputing corp to the venture capital firm of welsh carson anderson and stowe the purchase price was not disclosed readers digest said
current nine month figures include gain of 205 mln dlrs on property sales vs gain of 19 mln dlrs
analysts argue recent rises in civil service salaries and budgeted spending increases for the state owned post office and south african transport services suggest that major tax concessions to individuals or corporations are unlikely
this should yield about 125 mln tonnes of whites
the trail smelter about 400 miles east of vancouver produced 240000 long tons of zinc and 110000 long tons of lead last year
application for nasdaq listing is expected as soon as requirements are met
indonesian palm oil output expected to rise
he said peru exported 1381009 quintales to ico members last year with a value of around 230 mln dlrs and another 235092 quintales valued at around 35 mln dlrs to non ico members
levon previously reported the zone averaged 0226 ounces of gold a ton over a 40 foot section with average width of 516 feet
the group led by committee chairman patrick leahy a vermont democrat urged reagan to step up negotiations with the soviet union by providing export subsidies to help us farmers
its a volatile stock that has to be caught on weakness polaroids stock which gained more than a point early this morning was trading at 76 1 8 up 5 8
the fourth quarter decline followed a 11 pct fall in export prices and a 24 pct rise in import prices it said
financial markets welcomed public spending cuts announced by irelands new minority government in its budget saying the move would lead to lower interest rates
the company has 10855 of the 5 7 8 pct preferred shares outstanding it said
the premiums range from 22 pct to 36 pct and maturities from 18 months to four years and three months in all cases longer than gold futures and options on us markets
the ec commission granted 25000 tonnes of free market barley export licences at todays tender and 80000 tonnes of french maize grain traders said
bond corp international ltd nine mos to dec 31
it said 1986 plantings fell due to removal of crop incentives because farmers could earn more from other crops and because technical and seed improvements had not been widely disseminated
mcguinness markets liquers brandy and other liquors and has entered the fast expanding wine cooler market corby said
the company said it will have a 44 pct stake in reserves outstanding shares as a result of the exchange
about 11 bilion dlrs in allied assets had been targeted for sale by dec
the governments 14 major corporations rely heavily on budgetary support to supplement external borrowing to meet their yearly revenue shortfalls
shr profit six cts vs loss 18 cts net profit 156000 vs loss 212000 revs 5094000 vs 5669000
accurate assessments of roaster demand are hard to come by though analysts note the peak winter consumption period is passed and demand usually slows this time of year
first boston corp and lazard freres and co co managed the deal
s and p cited an increase in debt leverage to 86 pct of capitalization from 56 pct
gencorp founded in 1915 became an unfocused conglomerate over the years and analysts believe reynolds has helped it to improve
for the year it reported a net loss of 65 mln dlrs or 70 cts per share as a result of writedowns in the book value of its oil and gas properties in the first two quarters
martins has been sold to panfida ltd an australian investment company and drummonds to macarthy plc
in the cbis february survey 37 pct of companies expected a rise in output while 54 pct forecast production would remain at present levels and eight pct expected production to drop
new currency problem seen among us europe japan
brazil insists its debt service obligations should in no way interfere with growth priorities a position putting the issue of debt relief squarely into focus for the first time officials and delegates said
the bank gave no reason for the fall but local bankers said big import bills had affected the reserves
christian said there was a sharp rise in may in sales of existing homes which are generally less expensive than new homes
the company said the agreement also gives cnn the right to sell advertising spots on china central tv
the company cited irreconcilable differences in the financial structure of the deal
ussr exchange rates soviet state bank effective april 8 1987 roubles per hundred unless stated us 6385 6360 stg 10347 10256 bfr 1000 1690 1701 dmk 3506 3543 dfl 3100 3120 lit 10000 491 494 can 4885 4879 dkr 928 932 nkr 938 934 ffr 1052 1059 skr 1006 unch fin mrk 1420 unch sfr 4203 4233 yen 1000 437 434 aus sch 498 501 aus dlr 4477 unch pak rup 374 unch ind rup 510 unch irn ryl 088 unch lib din one 209 unch mrc drhm 778 unch
the basic balance of payments deficit in february fell to 402 billion dlrs from 417 billion in february 1986 and 737 billion in january
smaller firms have criticized ipmas efforts to restrict membership to the larger firms saying it is anti competitive and that it reinforces the big firms already large market share
the company also said it currently has a total of 4650 centers in operation and expects to increase the total to 6000 by june 30
shr loss 20 cts vs loss 14 cts net loss 352000 vs loss 248000 revs 285000 vs 681000 year shr loss 92 cts vs loss 49 cts net loss 1613000 vs loss 842000 revs 1523000 vs 2557000 note full name is north atlantic technologies inc
qtly div four cts vs four cts prior pay march 27 record march 13
qtr ended jan 31 shr 10 cts vs three cts net 194842 vs 54200 revs 222 mln vs 112 mln six mths shr 50 cts vs 28 cts net 965924 vs 502008 revs 438 mln vs 216 mln note current six mths revs include 168 mln dlrs in revs from john f
brazils 40000 seamen are seeking a pay rise of 275 pct
the commodity credit corporation has approved an additional 450 mln dlrs under its interemdiate export credit guarantee program gsm 103 for sales of us wheat to morocco the us agriculture department said
now that west germany no longer ran large external deficits other concepts were needed for monetary policy
the finance ministry has proposed informally to its bond underwriting syndicate that the coupon on the january 10 year government bond remain unchanged from february at five pct underwriting sources said
figures do not tally exactly because of rounding
although the yens rise will have a greater deflationary impact on the economy the economy is not likely to slow down much further sumita said
american airlines and citibank scheduled a press conference at 1030 est in new york tomorrow to announce a major new credit card alliance marketing program spokesmen for citibank declined additional comment
asked about participation by other us and european firms watanabe said they will not be core companies but if they wish they could participate under the japanese law total foreign participation would be limited to one third
contractors is headquartered in garden city ny and has branch offices in philadelphia boston and cheshire conn
output at both sites has been shut down since the production and maintenance workers along with about 600 office and technical workers went on strike may nine
the mines capacity is 2000 tonnes a month
reagan has come under heavy pressure to take tougher action especially against japan to end global unfair trade practices and reverse the growing us trade deficit
the kansas city board of trade kcbt has asked federal futures regulators to modify a proposal to raise the chicago board of trades cbt speculative position limits on wheat futures contracts saying the plan would put the the kansas exchange at a serious competitive disadvantage the commodity futures trading commission cftc last month proposed raising cbt wheat speculative limits to 1200 contracts all months net from 600 contracts and to 900 contracts for any single month from 600 contracts
director sixten korkman at the bank of finlands monetary department said he expected the bank to pursue an active policy on the interbank market as an issuer of own cds
its ridiculous to think the federal reserve will raise interest rates when the dollar is weak against just one currency
us trade representative clayton yeutter has threatened retaliation if the tax is approved as it would limit us soybean exports to the ec
rising service payments on kenyas three billion dlr external debt will absorb nearly all the 11 billion dlrs of foreign aid likely over the next four years president daniel arap moi said
australian oil industry to continue tax campaign
oe inc 4th qtr net
this amendment has been submited to the cftc the cme said
the us treasury said it will sell 975 billion dlrs of one year bills at auction
sources close to the italian state credit institution istituto mobiliare italiano imi said a convertible bond issue was one of the possibilities being studied to facilitate market absorption of fiat shares sold last year by libya and still in the hands of banks
as previously reported borg warner corp which owns 65 pct of bwas ordinary shares and 100 pct of the preferences advised a month ago that it would not accept the offer
that debt will set the company off at a 60 pct debt to capital ratio which hemminghaus said is too much
the entire seaway is already free of ice due to the mild winter and could be open for navigation today but there doesnt seem to be enough demand from shipping companies to warrant an early opening the canadian official said
business loans on the books of major us banks excluding acceptances fell 660 mln dlrs to 27793 billion dlrs in the week ended march 11 the federal reserve board said
lsi logic issues 100 mln dlr convertible bond
white house discounts threat of trade war
us tin disposals should have little effect on an agreement reached last weekend by tin producing countries to limit group exports to 96000 tonnes in the year started march 1 a government official said
cuban sugar output this season 1986 87 is put at around 75 mln tonnes raw value by broker cczarnikow in its monthly sugar market review
proceeds of the sale will be used to reduce debt
the company said both the split and the dividend are payable april 15 to holders of record march 31
he said tokyo had not shown willingness to open its markets to us exports
eep should be used tactically yeutter says
the current crude oil price of between 18 and 20 dlrs a barrel will remain stable over the next couple of years rising only one to two dlrs a barrel per annum to keep up with inflation opec president rilwanu lukman said
this was attributable to heavy redemptions of government bonds and unclear prospects for the dollar which has sent many foreign bond market participants to the domestic market the sources were quoted as saying
salomon sa the french maker of ski bindings and boots said it is seeking a 75 mln dlr euro commercial paper program that will be supported by a 75 mln dlr committed syndicated revolving credit
results include extraordinary gains of 952000 dlrs or 11 cts per share in 1986 and 2569000 dlrs or 29 cts in 1985 from income tax reduction
amstutz could not be reached for comment and an aide to lyng said lyng would not comment on shultzs statements
nippon signal co ltd is issuing 50 mln swiss franc of five year notes with warrants paying an indicated 1 3 8 pct lead manager morgan stanley said
taiwans 1986 trade surplus with washington was the third largest after japan and canada
saudis drop condition for oil sale to brazil
non callable for five years todays issue is rated a 1 by moodys and aa minus by s and p
with the split chrysler said 132 mln shares remain to be purchased in its stock repurchase program that began in late 1984
wtd industries inc wtdi 3rd qtr jan 31 net
some diplomats believe iran could also consider carrying out reprisals against the united states outside the gulf
commercial bank aggregate deposits rose to 16410 billion in the same period against 12066 billion in the corresponding months of fiscal 1986 87 he said
more american brands amb acquisitions seen
taiwan cabinet approves increase in bond issues
net includes gain from sale of mortgage backed securities and loans of 124 mln vs 934 mln and 1397 mln vs 2640 mln in nine mths 1987 vs 1986
trilogy also said its board approved a private placement of 35 mln common shares at a price of 90 cts per share to a group of investors
farmers enrolled over 65 mln acres of program crops in the latest conservation reserve program signup and around four mln acres of non program crops agriculture department conservation specialists said
backlog 10 billion dlrs vs 942 mln dlrs
japan bought 5000 tonnes of canadian rapeseed overnight at an undisclosed price for april shipment trade sources said
franklin insured sets monthly payout
balances in tax and loan note accounts fell to 14350 billion dlrs from 14391 billion dlrs on the same respective days
hungary is expanding its beet area to 105000 ha from some 95000 in 1986 the official mti news agency said but diplomats said policy is to balance supply with domestic demand
kaines sells jordan two cargoes of white sugar
iran says us naval forces attacked two platforms
the bank of france said it will offer 95 billion francs worth of negotiable treasury bills at its next weekly tender on april 13
manhattan natl mlc holders vote stock sale
the dollar fell to a record low against the yen this morning piercing the 150 yen barrier
gaviria said lower coffee prices this year could mean a loss of 15 billion dlrs in revenues for 1987
indonesian debt servicing of 6760 billion rupiah takes up almost one third of the 1987 88 budget
im telling retail clients to sell and leave the rest for those who can take the risk said rudolph hokanson analyst at milwaukee co
burma which diplomats here say now has foreign debts of up to 34 billion dlrs has applied to the united nations to be reclassified as one of the worlds least developed countries in order to qualify for softer loan and grant aid
the swingline will be available for a maximum of seven days
the us and brazil the largest coffee importer and exporter respectively each laid the blame on the other for the breakdown of the talks
arab heavy dropped 10 cts to 1663 dlrs a barrel and dubai was off 12 cts to 1809 dlrs
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
he added that oil prices will eventually rise to 35 dlrs then to 50 dlrs after 1990
the us grain planting intentions and stocks reports bear optimistic news for us agriculture a grain analyst on a chicago board of trade panel said
general electric cos ge credit corp said it agreed to buy all of the capital stock of kraft incs wholly owned subsidiary d and k financial corp
barnes group b expects sales to grow modestly
bank of japan intervened buying small amount of dollars at 14285 yen dealers
the central bank has not operated in the market today
the report said that by the end of the century the united states may be relying on foreign sources for 50 pct of its oil consumption posing a serious economic and national security threat
they did not say whether the contacts had led to concerted action on the markets or merely an exchange of views
in making the annoucement reagan said i am committed to the full enforcement of our trade agreements designed to provide american industry with free and fair trade trade analysts said his move was aimed as much at japans semiconductor trade practices which are said to have injured the us semiconductor industry as congress which has complained about presidential timidity on trade issues
everybody loves an under 10 pct mortgage she said noting that within five days the bank loaned the equivalent of 25 pct of its 1986 volume
i would refer you to the paris agreement which was a recognition the currencies were within ranges broadly consistent with economic fundamentals baker told the cable news network in an interview
1986 net both periods includes charge 264000 dlrs from settlement of overtime wage dispute and addition to provision for uncollectible accounts
he attributed the decline in the value of us imports to falling agricultural products prices last year
but moodys said the negative effect on chryslers profitability and cash flow would be temporary
we believe that a solid case continues to exist for soviet eep eligibility and the recently announced and reported soviet purchases of us corn indicate a soviet willingness to purchase us grain if it is competitively priced nawg said
each bond will carry two warrants each giving the right to subscribe between january 1 1988 and march 31 1992 to one financiere robur share at a price of 210 francs
first sarasota bancorp said its shareholders approved the acquisition of its city commercial bank subsidiary by first union corps func first union national bank of florida
iowa beef processors a division of occidental petroleum said it planned to reopen the plant one of the largest in the nation on march 16
the us dollar convertible eurobond for keppel corp has been increased to 75 mln dlrs from the initial 60 mln bookrunner morgan grenfell and co ltd said
shr 30 cts vs 21 cts net 3358000 vs 2276000 sales 433 mln vs 335 mln 1st half shr 60 cts vs 42 cts net 6654000 vs 4638000 sales 866 mln vs 664 mln note share adjusted for three for two stock split in may 1986
shr 34 cts vs 29 cts net 3188000 vs 2731000 revs 372 mln vs 254 mln avg shrs 9474000 vs 9425000 year shr 92 cts vs 80 cts net 8671000 vs 7492000 revs 1194 mln vs 736 mln avg shrs 9450000 vs 9410000
brasil last month suspended payments on a large part of its 109 billion dlr debt the highest in the developing world
it said the agreement is also subject to the waiver by march 13 of certain conditions under the companys existing bank credit agreement
kodak said the division will discontinue production of polyester partially oriented filament yarn or poy at its carolina eastman co plant in columbia sc and will idle 100 mln pounds of older polyester staple fiber production capacity mostly in columbia
the average soybean planted acreage quesstimate was 5949 mln ranging from 580 to 630 mln and compared with the 6148 mln planted in 1986 with substantial grain stocks less interest was expressed among analysts in the usda stocks report also scheduled today
us treasurys baker meets west german minister
japan central bank actively buys dollars in tokyo
at the same time traders who are holding stocks and bonds saw the value of their investments falling and many are turning to commodities such as precious metals as a hedge said marty mcneill a metals analyst in new york with the trading house of dominick and dominick
the loan which the imf provides countries under special circumstances is equal to 25 pct of ecuadors quota or economic standing in the fund
swedish mining and metals group boliden ab blds st said it would buy the mining equipment operations of the us allis chalmers corp aho amounting to more than 50 pct of group sales for 600 mln crowns
guardian national insurance co ltd garj j year
belgium is to issue a 150 billion franc eight year state loan carrying a coupon of eight pct a finance ministry spokesman said
the two top officials of the chicago board of trade cbt are planning to visit three countries in the far east next month to drum up support for the exchanges proposed night trading session cbt president thomas donovan told 
the aggressive use of the treasury bill program has meant that the government is now able to maintain lower cash balances and lower financing costs said bouey who was replaced by deputy governor john crow last month
banks also face a heavy but temporary drain this month from a major tax deadline for customers
opec sticking firm on official prices subroto
the average price of the one year bills was 94014 and the range was 94055 to 94004
austria is issuing a 50 mln australian dlr eurobond due april 22 1992 with a 14 1 4 pct coupon and priced at 101 3 4 pct lead manager credit suisse first boston ltd said
rexcom systems corp said it agreed to buy all the assets of postech inc from comtech group international ltd a canadian computer service company for 70 pct of rexcoms voting shares
jefferson reported a 15 mln dlrs loss and assets of 360 mln dlrs for the year ended september 30 1986
great american said its revised net loss for the fourth quarter is 141 mln dlrs or 636 dlrs per share compared to a net loss of 24 mln dlrs or 106 dlrs per share the year earlier
further talks will be held this morning at cargill uk ltds oilseed processing plant at seaforth after yesterdays meeting between management and unions failed to produce a solution to end the three month old strike a company spokesman said
out of this traders in france received 31000 tonnes in west germany 21000 in belgium 19050 in the uk 15800 in denmark 8500 in the netherlands 6000 and in spain 1000 tonnes it added
genex corp gnex gets financing
ferruzzi is one of several groups bidding to buy all of corn products installations in europe
oecd agrees export credit reforms
this is a complex issue but i am very optimistic on an agreement he told reporters during the iadbs annual meeting here
japan auctions 280 billion yen of four year notes
geneva negotiators at un conference agree basic elements in new rubber pact chairman
the investment company said after the merger the combined company will have 15 mln shares outstanding
bankers and businessmen said the conference was also likely to discuss the apparent reluctance of us and british firms to step up investment in the kingdom
bundesbank has not intervened today dealers
the bank of france said it has invited offers of first category paper today for a money market intervention tender
the company said it ended the deal in which fujitsu would have bought 80 pct of fairchild for an estimated 200 mln dlrs because rising opposition to the deal by the reagan administration made it unlikely that the sale could be completed within a reasonable period of time
shr 30 cts vs 592 dlrs net 1142000 vs 160 mln revs 106 mln vs 242 mln year shr 90 cts vs 620 dlrs net 3320000 vs 169 mln revs 4500 mln vs 262 mln note 1986 4th qtr and yr amounts include acquisition of 988 pct of common of atico formerly peninsula federal savings and loan association on january 24 1986
it posted pre tax profits of 213 mln stg on turnover of 96 mln stg in the six months to december 31 1986
closing is expected in the second quarter following approval of definitive agreements
one western commercial attache here said devaluation of itself will not change anything
these numbers and other things suggest the fomc will not change policy said robert brusca of nikko securities co
edf plans to oversee the program itself with goldman sachs international corp morgan guaranty ltd and salomon brothers international ltd acting as dealers for the general program which will be aimed at institutional and retail investors
trump is believed to have close to five pct of uals stock market sources said
liquidity is expected to remain tight over the next month and this will put upward pressure on interest rates
electromedics inc said it expects to take a 150000 dlr charge against first quarter results due to the conversion of debentures
shr loss 203 dlrs vs loss 85 cts net loss 10742113 vs loss 3700712 revs 8027065 vs 8689008 avg shrs 53 mln vs 44 mln year shr loss 245 dlrs vs loss 173 dlrs net loss 11607104 vs loss 7442825 revs 326 mln vs 332 mln avg shrs 47 mln vs 43 mln note 1986 net loss includes a fourth quarter charge of 105 mln dlrs from writeoffs of certain assets
the unexpected order raises significant doubts about the quality of duquesnes regulatory support and financial prospects
lle royalty lrt sets monthly payout
oper shr 164 dlrs vs 84 cts oper net 4583000 vs 2869000 revs 201 mln vs 190 mln avg shrs 2791639 vs 3432746 year oper shr 446 dlrs vs 320 dlrs oper net 141 mln vs 109 mln revs 746 mln vs 680 mln avg shrs 3154665 vs 3425187 note operating net excludes gains of nothing vs 2444000 dlrs or 72 cts a share in quarter and 1890000 dlrs or 60 cts a share vs 93267000 dlrs or 272 dlrs a share in year from tax loss carryforwards
it also will be able to issue on an uncommitted basis euronotes with maturities of up to six months which will be priced under the issuer set margin system
tmoc tells shareholders not to accept santos bid
weatherford international inc wii 4th qtr loss
mobex corp said 2088461 grant industries inc common shares about 87 pct of the 24 mln outstanding have been tendered in response to mobexs offer
recent strong monetary expansion was not a threat in itself to price stability
premier yu kuo hua ordered financial officials to quicken the pace of relaxing foreign exchange controls and study the possibility of suspending the controls a cabinet statement said
audio video ava sues over cyclops cyl bid
the issues are aimed at helping curb the growth of m 1b money supply which is the result of large foreign exchange reserves
warrington said it decided to rationalize the balance of its ski businesses which is expected to result in a divestment loss which could outweigh the net gains on the sales of its shoe and ski boot divisions
kyushu electric power issues yen bonds london march 24 kyushu electric power co inc is issuing a 20 billion yen bond due april 22 1994 carrying a coupon of 4 3 4 pct and priced at 101 5 8 pct said nomura securities co ltd as lead manager
qtly div 50 cts vs 50 cts prior pay may one record april 10
in total cpc has bought back about 16 mln shares of common stock adjusted for the split it said today
siew returned from washington on friday after the us responded to taiwans request to increase its textile export quotas by promising further talks in may
he said other negotiations were under way with biotechnology companies in the health care and diagnostics sectors through montedisons health care subsidiary erbamont nv but gave no details
pillsbury said it expects the interests to be sold to public investors and listed for trading on the new york stock exchange
there is a 1 3 8 pct selling concession and a 5 8 pct combined management and underwriting fee
shr profit five cts vs loss four cts net profit 378000 vs loss 140000 revs 4226000 vs 1240000 nine mths shr loss 38 cts vs loss 16 cts net loss 1088000 vs 538000 revs 101 mln vs 2963000 note 1987 nine mths includes charge 1827000 dlrs for exchange by an officer and director of 554000 shares of junior subordinated stock for 443000 shares of common stock and a 10 year warrant to purchase 250000 shares of common stock at 450 dlrs per share
kleinwort said the kingdom will face an increasingly uphill task in trying to maintain prices around 18 dlrs beyond 1987
this brings recent options india has given traders to some 200000 tonnes at fixed prices and makes future indian purchases very dependent on price fluctuations traders said
un press secretary francois giuliani said the secretary general had no comment on the attack which followed his appeal last friday for restraint in the crisis while he pursued efforts to obtain a ceasefire between iran and iraq
some traders said companies that deal with texaco are concerned about whether they will receive payment or supplies under the bankruptcy filing
moodys said it would assess future prospects for the company as well as for the whole catalogue showroom industry
in the administrative proceeding against allied and kern the sec is asking for an administrative order that they comply with reporting provisions of securities laws in the future
the aggregate showed annualized growth of a provisional 75 pct in february against the fourth quarter of last year unchanged from january
a foreign ministry official in tokyo said japan urges price realism in commodity pacts adding high prices inflate supply
the total of all crude refined product and spr stocks fell 103 mln barrels to 15648 it said
the company collects flammable solvents from its industrial customers for a fee after which it analyzes and processes the solvents before they are burned
crs sirrine inc said it plans a major restructuring of its balance sheet that will include a write off of between 39 mln and 43 mln dlrs most of which would be intangible goodwill from the companys past acquisitions
merrill had suspended the official nahum vaskevitch yesterday saying at the time it was disappointed and angry if the sec charges are true
soybean production estimates were revised downward to 78 to 82 mln tonnes compared to estimates of eight to 84 mln tonnes a week ago
shr 26 cts vs 36 cts shr diluted 25 cts vs 36 cts net 1389000 vs 1412000 revs 569 mln vs 351 mln avg shrs 5412000 vs 3962000 year shr 90 cts vs 75 cts shr diluted 86 cts vs 75 cts net 4692000 vs 2961000 revs 2014 mln vs 1400 mln avg shrs 5234000 vs 3954000 note results for 14 and 53 week periods ended january 3 1987 vs 13 and 52 week periods ended december 28 1985 1985 net in both periods includes gain of 99000 dlrs from tax loss carryforward spokeswoman said average shares outstanding on a diluted basis were not available
he noted high level meetings on the trade dispute are underway here but said i dont think theres anything i can report and i dont believe theres been any official movement
us law prohibits most favored nation status for countries that restrict emigration and other rights
the company also said that new capacity brought onstream last year replaced 120 pct of mobils production which declined by about four pct in 1986 from the previous year
our net income and cash flow will benefit from lower interest expense lower canadian taxes and the considerable savings achieved over the past few years from cost reductions he said
the bank of france said it left its intervention rate unchanged at 7 3 4 pct when it injected funds in the market against first category paper in todays money market intervention tender
net tangible assets at end september were 363000 dlrs
the figures continue to indicate a switch away from these traditional major producing countries to the more advanced developing countries
metex corp mtx 4th qtr dec 28
gencorp said its rko general inc subsidiary completed the sale of wor tv to mca inc mca for 387 mln dlrs
yeutter told figuerras that all agencies of the us government supported the us complaint and unless argentina took steps to eliminate the taxes the united states would consider taking further action in the case us and argentine officials said
the non callable issue is available in denominations of 10000 and 1000 stg and will be listed in luxembourg
shr loss 132 dlrs vs profit two cts net loss 5666000 vs profit 84000 revs 120 mln vs 217 mln nine mths shr loss 187 dlrs vs loss 71 cts net loss 8030000 vs loss 3062000 revs 409 mln vs 530 mln note includes losses from discontinued operations of 190000 dlrs vs loss 185000 dlrs in 3rd qtr and 731000 dlrs loss vs 815000 dlrs loss in nine mths
the state procurement price for rape will rise 134 pct to 5500 zloties per quintal while wheat and rye will go up an average 182 pct to 3100 and 2400 zloties per quintal
qintex extends princeville pvdc offer
echo bay said it encountered gold in 39 of 42 drill holes at cove
the company said europe craft designs imports and distributes menswear and sportswear under the members only brand name
the governments six and eight peso wage increases would displace up to 20000 workers monsod said bringing the number of unemployed to 42 mln or 192 pct of the population
the officals said hoechst celeneses 1987 capital spending of over 200 mln dlrs will be funded from internally generated cash
they all have different opinions
datagraphix which had 1986 sales of 2407 mln dlrs manufactures a line of computer output to microfilm hardware and supplie
sales did not recover in february as much as retailers had expected and they are now looking for better business in march todays survey said
german bank sees good soviet trade prospects
each of the five locals have separate contracts all of which expired april 30 but the main issues are similar
most cited narrower spreads between the prime and funding costs as justification
primages inc said it introduced a new daisywheel printer that can print 90 characters per second and features graphics capabilities
leutwiler said the swiss national bank could not support the value of the dollar even in conjunction with other central banks without putting monetary stability in jeopardy
the company said it will file a response to the suit with federal court in detroit by april 7
philip braverman of irving trust securities inc believes banks will snap up the two and four year issues at this weeks sales
japan study urges foreign access to farm markets
the strike by 40000 seamen now in its 13th day represents a stern challenge to the government
the first domino is you have an investor with a considerable stake
the company said it received financing for the transaction from first national bank of minneapolis and salomon inc sb
countertrade accounted for just five pct of indias 2565 billion dlrs in trade during fiscal 1985 86 ended march against almost nothing in 1984 85 official figures show
ford motor cos stock rose 1 1 4 to 82 1 4 after analyst maryann keller of furman selz mager dietz and birney raised earnings estimates on the company traders said
he would have preferred an increase in the 10 pct value added goods and services tax introduced in october 1986 but that would have had a short term inflationary impact
cra said the main item in its 25028 mln dlr extraordinary loss was a 1729 mln writeoff of unrealised foreign exchange losses on borrowings as required by a new accounting standard
api said refinery runs in the week rose to 1254 mln barrels per day from 1221 mln and refinery use of operating capacity was 804 pct up from 783 pct
if the regulatory commissions approve the companys proposed rate moderation plan and grant the increases provided for in such plan during the initial three year phase in period the company believes it could achieve financial stability gulf states said
placements are not that negative especially since the technical correction in june and august live cattle futures since last week gh miller analyst jerry gidel said
charles stenholm d tex which would limit 0 92 only to producers of 1987 crop winter and spring wheat
jordan today bid 74 dlrs per tonne for soft wheat and 75 dlrs per tonne for hard red winter wheat in its tender for 225000 tonnes of hard and soft wheat for april through november shipment
the itc has immunity except for the enforcement of an arbitration award and thus it is important for amt that the court accepts that the winding up petition represents a move to enforce an arbitration ruling
german net currency reserves rise 500 mln marks to 870 billion in week
malaysias net external borrowings for 1987 are expected to be maintained at around last years levels of about 145 billion ringgit zain azraai secretary general to the finance ministry told an investment seminar here
its now basically the usda who has to make their decisions as to what they want to do the official said
us march retail sales cut by late easter
cpi corp cpic 4th qtr feb 7 net
clark copy said its majority owned norwegian subsidiary interactive computer aids co of norway purchased kongsberg drafting systems a division of norwegian state owned kongsberg vappenfabrikk
proposed offerings recently filed with the sec
melamed said capital flows which he estimated can approach 200 billion dlrs a day would overwhelm efforts by governments to control currency fluctuations
canada retail sales fall 01 pct in january
ne electric sees higher construction outlays
allied lyons got 51 pct control of hiram walker gooderham last year for about 600 mln us dlrs while the reichmanns gulf canada corp acquired 49 pct in an out of court pact after a hostile battle for the wine and spirits division of hiram walker resources ltd we are getting along very well as partners i hope there wont be any change but there could be holden brown told reporters after a speech in toronto
analysts have mixed opinions about the extent of the current rally
the paper quoted us intelligence sources as saying the missiles appeared to be of a chinese design known as hy 2 which is based on the soviet ssn2 or styx missile
qtly div 65 cts vs 65 cts prior pay may seven record april seven
media reports said some banks rated as small among brazils 700 creditors had filed lawsuits against the decision to suspend interest payments
it said the sale involved assets and operations of the general line of steel service centers in toronto and edmonton alberta and steel from inventories of closed amca branches
pennsylvania power said the 7 3 8 pct series preferred stock will have a mandatory sinking fund of 25000 shares in each year commencing april 1 1993 calculated to retire the issue no later than april 1 2012
in a report diw disputed arguments by other economists that the economy was showing mixed development with domestic demand healthy but foreign demand weak
robert white canadas deputy chief of delegation replied the law was in line with gatt rules and was for conservations reasons
finance minister edouard balladur was quoted today as saying that french 1987 growth will probably be about two pct
it said it has now received an operating permit for a new 250000 cubic yard landfill cell at its imperial county calif from the health services department
waste recovery inc wrii 4th qtr net
a wardley spokesman said the loan was well received by international banks which have a keen appetite for increasingly scarce korean assets
canadian liquid plus short term assets rose 72 mln dlrs to 3647 billion dlrs and total canadian dollar major assets of the chartered banks rose 507 mln dlrs to 22422 billion dlrs
we are trying to rebuild the culture of productivity and manufacturing keating said the foundation for a transition of the economy had been laid with the floating of the australian dollar and continued with wage restraint and deregulation
were comfortable with adjustment lending we expect however that it will never reach a majority of our portfolio conable said
the ministry said the debt rationalisation exercise similar to one carried out in 1958 and 1959 would take out of circulation old issues which were expensive to manage and difficult to trade because of their highly complex structure
treasury balances at the federal reserve fell on march 5 to 3467 billion dlrs from 3939 billion dlrs the previous business day the treasury said in its latest budget statement
in a joint statement chirac and reagan said the pasteur institute in paris and the national cancer institute of bethesda maryland agreed to give part of the royalties from the test to a new foundation dedicated to the wordwide fight against aids acquired immune deficiency syndrome this agreement opens a new era in franco american cooperation allowing france and the united states to join their efforts to control this terrible disease in the hopes of speeding the development of an aids vaccine and cure reagan said at the signing ceremony
mercantile bank na mtrc raises prime rate
we have had one agreement
kuwait sees opec output over ceiling to end year
a manila court yesterday issued an injunction barring ucpb from selling the shares which represent 31 pct of smcs outstanding capital stock of 121 mln shares until hearings on april 21 on a petition filed by eduardo cojuangco a former chairman of both smc and ucpb
sterling opened 03 points lower in trade weighted terms at 713 dealers noted the chancellor said he would achieve his goals on sterling by a combination of intervention in currency markets and interest rates
standard and poors corp said it cut to bb minus from bb plus trinity industries incs 275 mln dlrs of liquid yield option notes
corporate efforts to cope with the yens appreciation such as cutting production costs are expected to bear fruit next fiscal year the institute said
last years output was 124 mln bushels down from 127 mln in 1985
implementation of a 0 92 program a tightening up of the use of commodity certificates and reconstitution of farms are possibilities that will be studied to reduce farm spending said dan glickman d kans chairman of the house agriculture subcommittee on wheat soybeans and feedgrains
all the action of the past week has been in the far east raws market whereas the whites market saw little fresh prospect of nearby offtake whitehouse added
chrysler c sells bonds from its portfolio
hashimoto also said parent current profit in the five month period is estimated at around 17 billion yen down 33 pct from a year earlier on sales of 400 billion down 12 pct
another said management seemed to have the edge on the timing issue
mobil corps mob mobil oil francaise unit said it will take a stake of about 10 pct in the french butane and propane gas distribution company primagaz in exchange for the transfer to primagaz of mobils small and medium bulk propane activity
the white house has said it would consider the option although it was generally opposed to any revisions in the new tax code
ongpin said the country should not have a financing gap before the end of next year at the earliest depending on the success of the philippine investment note issues which are planned but some bankers say they are already braced for new loan requests for 1988 and 1989
stop and shop cos inc said its bradlees discount department stores divisions sales for the five weeks ended april four were up six pct to 156 mln dlrs from 147 mln dlrs a year before with same store sales up one pct
california microwave said the write downs should have a nominal cash impact as the company already has paid for the assets being written down
denominations are 50000 francs
us real gnp rose 11 pct in fourth quarter
the rate will be reset monthly or quarterly and will be subject to a maximum of libor and a minimum of the new york feds commercial paper composite rate
loans and leases increased 34 pct to 195 billion dlrs and deposits grew 14 pct to 196 billion dlrs
zdzislaw kuroski deputy director of comecon who heads the east bloc delegation told ahead of todays session we have narrowed our differences on a range of questions but not on all questions asked whether comecon would accept ec insistence that any joint declaration stipulate west berlin as part of the community he replied this question is not contained in the draft which our side presented west german diplomats said they would insist on including the clause on west berlin in any ec comecon agreement
new dutch special advances total 42 billion
scientific micro systems inc said it has acquired supermac technology a rapidly growing supplier of enhancement products and disc drive subsystems for the apple personal computer market
1986 revs also include unrealized loss on equity securities of 59000 dlrs for qtr and 1155000 dlrs for 12 mths
the ftc said it ended the prior approval requirement because allied no longer has businesses covered by the order
turkish central bank sets lira dollar dm rates
scientific systems services inc sssv 4th qtr
a coca cola co spokesman said rumors the company is interested in acquiring wendys international wen are not true
london sugar trades at session highs by midmorning
shr loss 33 cts vs loss one ct net loss 320000 vs loss 8000 revs 822000 vs 405000
analysts expect gencorp to resist the tender offer but they declined to predict what steps the company might take
of the placements 569 mln shares will go to a number of investors and 72 mln to investment group westfield capital corp ltd which arranged northern stars purchase of news corps television assets three newspapers and three radio stations for 842 mln dlrs
market sources said the corn exports the absence of imports from the rest of the ec and the delay in shipments of corn from the us had pushed domestic corn prices up by around 025 pesetas a kilo today compared with yesterday
canadian investment including the buying of foreign companies stocks and bonds rose to 1253 billion dlrs from 619 billion dlrs in 1985
the selling concession is 1 1 2 pct while management and underwriting each pay 1 2 pct
hecla said initial production from a trackless underground mine is scheduled for late 1988 at a rate of about 1000 tons or ore per day
usair gets approval to buy 9309394 piedmont shares in tender
jaguar plc jagrl is about to sell its new xj 6 model on the us and japanese markets and expects a strong reception based on its success in the uk chairman sir john egan told a news conference
franklin minnesota insured sets payout
but wrightson economics a us based research firm which drew its data from us treasury reports estimated that gross transactions in us government securities in london rose to 341 billion dlrs in the first nine months of 1986 alone against 188 billion in all of 1985
pepco pom two mths feb 28 net
zambian copper industry hopes for steady output
hostetler is resigning as a director as is chief financial officer gary b
the british petroleum co plc bpl oil refinery at grangemouth closed after an explosion and fire eight days ago is expected to partially reopen next week a refinery spokesman said
he said brazils decision to stop payments on its debt had captured the attention of the international community but the country should now produce a plan to reform its overheated economy
shr profit four cts vs profit three cts net profit 64197 vs profit 56437 revs 49 mln vs 16 mln six months shr profit four vs loss seven cts net profit 67133 vs loss 114427 revs 91 mln vs 28 mln note1987 first half includes revnues of new racetrack operation
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 rate compares with 120 pct at the end of march 1986
shr 16 cts vs 16 cts net 566000 vs 563000 sales 142 mln vs 9831000
the issue which will take the form of deposit notes will be co lead by dominion securities and wood gundy inc
in 1996 they would assess the impact of the tariff reductions and work out a new timetable for the complete elimination of all barriers to trade by the year 2000
for the two month period ended february 28 1987 it said the amount of the reduction would amount to 19 cts per share
charter co qchr 4th qtr oper loss
endotronics sees heavy losses in qtr from withdrawal of japan distributor
quotes included this week mississippi river granite city mla if p o traded at 175 pct of tariff five percentage points above yesterdays bid
the increase in base rates was instead limited then to one point
british petroleum co plc said based on a feasibility report from ridgeway mining co its joint venture ridgeway project in south carolina could start commercial gold production by mid 1988
rhm said it regards the stake build up as a hostile move which is unwelcome and not in the long term interest of shareholders
american sources say he is ready to state that the best way to reverse protectionist sentiment in the united states is to implement four key uruguay proposals an end to agricultural subsidies inclusion of trade in services and investments in gatt regulations tightening of restrictions on pirating of so called intellectual property such as trademarks patents and copyrights new rules to resolve trade disputes among gatts 92 member states
the uk government said it would dispose of the holding sometime in the year beginning april one
malaysias external debts total 48 to 49 billion ringgit and its debt service ratio exceeds 20 pct the development bank of singapore ltd one of singapores four major local banks said in a report released this week
seasonally adjusted employment in february was 11777000 compared with 11747000 in january while unemployment slipped to 1252000 from 1255000
jones said that while the fomc probably voted no policy change today it may have decided to apply slight upward rate pressure later if the dollar weakens inflation pressures heat up or the economy shows sign of strong recovery
maoist guerrillas using dynamite interrupted train traffic two days ago when they blew up railway tracks and derailed a train laden with minerals 225 km 135 miles east of lima at chacapalca between the coast and cobriza
the issue will be listed in luxembourg
the agriculture ministry estimates japans edible oil demand will rise 15 pct in calendar 1987 to 168 mln tonnes from 165 mln in 1986
chrysler corp today sold 405 mln dlrs of corporate bonds from its nearly 35 billion dlr pension fund to wall street investment bankers vice president and treasurer fred zuckerman said
investment group ups stake in scandinavia scf 
fleet flt could face connecticut divestiture
neyra did not specify the source of the trade credit lines
the reductions cover only a common list of 300 or so widely traded commodities and goods but pta sources said the organisation planned to expand the list to include 425 items
liquor sales were limited with march april selling at 2325 and 2380 dlrs june july at 2375 dlrs and at 125 times new york july aug sept at 2400 dlrs and at 125 times new york sept and oct dec at 125 times new york dec comissaria smith said
the company said annual capacity for production of kodel polyester staple fiber will be reduced to 400 mln pounds from 500 mln due to lesser demand
potomac electric power co pom jan net
but reid added we shouldnt forget that it has taken one of the biggest stock market crashes in decades to get the west germans to cut their security repurchase rate by a 005 percentage point over the weekend criticism by baker of earlier tightening of west german monetary policy led to a sharp dollar fall and fuelled speculation that the louvre accord was no longer valid
she denied that any unpublished clause of the agreement guaranteed the bulk of the maize export business would go to the us as one ec official told yesterday
the 18 dlr figure is based on a basket of six opec and one non opec crudes
coleco industries clc sees profit in 1987
shr loss four cts vs loss five cts net loss 527065 vs loss 1204080 revs 622470 vs 613205 year shr profit four cts vs loss 13 cts net profit 1099778 vs loss 3282478 revs 7579547 vs 6068254 note 1985 excludes loss from discontinued operations of four cts per share in the quarter and loss 10 cts in the year
the question is now do they acquiesce to gaf
brazils debt would increase in dollar terms but remain constant in real terms
floating rate note market still in turmoil
it said instead that such moves as increasing oil reserves and more exploration and development research would help to guard against or mitigate the risks of increased imports
henley said it began talks with sante fe after it announced its restructuring program in august 1987
he also said he still believes a dollar exchange rate level plus or minus 10 yen from 170 yen would be within levels agreed upon last month in paris by six major industrial nations
italian treasury cuts interest on certificates
at the same time the deal benefits the banks which will still get a reasonable return on the note facility which is pure italian risk
the wholesale unit is a major distributor of tobacco confectionary and other products through 34 wholesale and 28 vending branches in canada
mobil chairman allen e
the coupon is valid for one year and will then be re fixed annually at the one year australian treasury rate
the shaws board and the davis family has agreed to accept the offer thus assuring sainsburys a total holding of 740 pct
but the company said it was likely to suspend its 75 cents per share quarterly common stock dividend and halt repayments on debts of some 68 billion dlrs
union pacific unp to sell part of refinery
in france the largest producer of ec quota and non quota sugar the sugar market intervention board firs said first planting intentions indicate an area about the same as last years 421000 hectares nine pct below the previous year
bei beih acquires ivey rowton and associates
exports were down 63 pct at 745 billion dlrs compared with 795 billion in 1985 while imports were down 21 pct at 1110 billion dlrs from 1134 billion
several had good brand development potential including gleneagles champneys cranks hediard and and guinness publications
coupon reduced on best denki warrant bond
orion oc has 52 pct twin disc tdi stake
canadas gross domestic product rose 01 pct seasonally adjusted in january after gaining 10 pct in december but falling 01 pct and 03 pct in november and october statistics canada said
pbs building systems of america inc an anaheim calif company told the securities and exchange commission it has acquired 150000 shares of modulaire industries or 50 pct of the total outstanding common stock
it said the underwriters could repurchase up to 125 mln dlrs of the issue from great lakes group
other factors commonly blamed for the deficit such as foreign trade practices deteriorating us industrial competitiveness high labour costs and government restrictions on mergers added little to the problem it said
gardner said he believes shareholders could get a better deal than the buyout offer if the company would agree to be sold to some other entity or if it could sell off all or part of its us courier division
fed approves chemical bank acquisition of texas commerce bancshares
dealers said life insurance firms were not major sellers of dollars in recent trading sessions because they had already sold them to hedge risks
the stock of philip morris cos rose today following recommendations by first boston corp and morgan stanley and co traders said
tanjug said sources close to the yugoslav delegation said the initial reaction of commercial banks was favourable despite their continued insistence on technical and legal elements it said it was believed that a commercial debt rescheduling would be formally agreed in the next few weeks
bids would be due on march 10 and payment on march 12
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
shamrock capital completes central soya sale
agriculture department officials have declined to take any official position on the issue
sources said wilbur believes hercules will be successful in its diversification but he told clients the stock market is more receptive now to chemical companies than aerospace companies
dri forecast that inflation which was an average 63 pct in 1986 will be under five pct this year and that interest rates should drop two pct
peoples ban corp peop sees 1st quarter net up
eliminating this practice called pik and roll would save the government 14 billion dlrs between 1988 92 according to the congressional budget office cbo
texaco inc tx 841 mln dlr defense contract
even before he started operations traders estimated the manager would need to buy at least up to his 75000 tonnes maximum before prices moved up to or above the 1600 sdr level and yet he appears reluctant to do so one manufacturer said
perus consuemr price index rose 53 pct last month to 139144 base 100 following a 53 pct increase in february and 53 pct rise in march 1986 the national statistics institute said
squibb is also investming 75 mln dlrs in cetus research over the next five years
he said there also would be benefits from integrating new zealand investment activities
uk australia offer wheat to bangladesh
sickle cell anemia is a painful inherited blood disease that causes the normally flexible red blood cells to stiffen into a sickle like shape
however others were less worried
he said he does not foresee a major pick up in economic activity but does not believe the economy will slip into recession either
roeller said action on the debt situation had to be taken now
the chain of stores was acquired when hanson took over imperial group plc last year
barring any market manipulations a good us harvest in 1987 could lead to attractive prices active trading and the reappearance of the usa as the worlds leading producer of peanuts it said
laser precision corp lasr 4th qtr net
the rating agency said its action mainly reflected debt redemptions
if history repeats itself the hafts could raise their bid to 46 dlrs if they are rebuffed by supermarkets general the arbitrageur said
cotton mln bales 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 4587 4814 4270 4311 production 6953 6966 7894 7892 imports 2307 2307 2149 2145 mill use 8072 7708 7684 7479 exports 2337 2350 2025 2028 end stocks 3416 3999 4587 4814 note imports and exports may not balance due to cotton in transit and reporting discrepancies in some countries
earlier the company reported fourth quarter 1986 net of 15 mln dlrs or 26 cts a share up from 11 mln dlrs or 19 cts a share in 1985s fourth quarter
hanson industries completed the purchase of kaiser cement on march 3 for about 250 mln dlrs
ameritrust amtr sets two for one stock split
bankamerica corp following moves by other major banks said it has raised its prime rate to 775 pct from 750 pct effective today
mexico sees compromise on iadb reforms
final quarterly results will be reported toward the end of the month or the beginning of may a company spokesman said
the unit manufactures structural materials including advanced composites adhesives and aluminum honeycomb for the european space industry
the 23 dlrs a share cash only offer is nearly double the market price before news announced its now completed bid for the herald and weekly times ltd hwtas in early december and no other offer is likely it said in a statement
the initial rate for the notes will be set on april 15 at 200 basis points below the 90 day new zealand bank bill rate
mthly div 61 cts vs 61 cts prior pay march 31 record march 16 note franklin ohio insured tax free income fund
indian and australian businessmen signed a memorandum of understanding to boost two way trade and joint industrial ventures in both countries spokesmen of the indo australia business council told reporters
shr 33 cts vs 24 cts net 62 mln vs 49 mln loans not given deposits not given assets 38 billion vs not given note full name montreal city and district savings bank period ended january 31
china has no track record in the us bond market
chrysler c seeks to raise share limit
congress passed a textile bill two years ago but it was vetoed by president reagan on grounds that curbing imports to protect the domestic textile industry would trigger retaliation us trading partners
he added ecuador also wanted to make up for 50000 bpd it shipped to caribbean destinations
loans to non bank customers increased in december to 3874 billion dlrs from 3864 billion in november and 3744 billion in december 1985
gaf gaf group reconsiders buyout bid
this makes a june election very likely bell said some politically popular provisions omitted from the budget such as lifting the ceiling on the amount of mortgage eligible for tax benefit and some provisions on pensions could not have been implemented until autumn anyway
raised were the companys senior debentures raised to ba 3 from b 3 and convertible subordinated debentures to b 2 from b 3
the dollar remained close to post world war ii lows today against the japanese yen despite buying by several central banks including the federal reserve dealers said
the sale will complete the planned disposition by american barrick of all its non gold assets it said
but he said it was not aimed at moderating dollar selling
the bill authorizes 2875 billion dlrs as the us contribution to the eighth replenishment of the international development association 5843 mln dlrs to the asian development fund and 7195 mln dlrs to buy 59648 shares of the capital stock of the african development bank
money market analysts cited the debt renegotiation as the main impetus behind increases today in both the commercial and financial rand
shr 86 cts vs 74 cts net 111 mln vs 86 mln revs 877 mln vs 805 mln avg shrs 12857904 vs 11578259 nine mths shr 261 dlrs vs 215 dlrs net 326 mln vs vs 248 mln revs 2698 mln vs 2578 mln avg shrs 12482780 vs 11502035 12 mths shr 328 dlrs vs 280 dlrs net 403 mln vs 321 mln revs 3554 mln vs 3421 mln avg shrs 12271220 vs 11457028
copper production by the government controlled zambia consolidated copper mines zccm for the 1987 financial year ended march 31 improved slightly to about 471000 tonnes from a record 1986 low of 463354 tonnes
american nutrition operates a chain of stores sellings vitamins and health products
healthvest hvt sells shares
it said it signed a letter of intent to buy liberty bank of pensacola in april
investment firm boosts amerford amrf stake
top discount rate at uk bill tender 95261 pct
proceeds will be used to increase the banks regulatory capital and for general corporate purposes tcf said
they feedlot operators are marketing more cattle than they had intended for the first quarter which is a bullish development levitt said
petrol station owners in four states also continued their shutdown and there were fears that the combination of the two stoppages could lead to a serious fuel shortage
proceeds will be used for general corporate purposes and possible acquisitions micropolis said
sugar mills are suffering because refined sugar prices have not changed for 20 years despite rising costs it said
sesostris the spanish subsidiary of the international grain trader dreyfus sold 18000 tonnes of barley to greece for delivery from mediterranean ports from april 14 to 30 a company spokesman said
the 93 nation world trade body began the uruguay trade round last september
net 31 mln vs not given note results not comparable with last year due to november 1986 acquisition of bank of british columbia
earlier vw had said that its 1986 results would match 1985 profits
barbados seeking 25 mln stg revolving credit
intercare care says acquisition terminated
the company said fa had sales of 431 mln dlrs for 1986 and expects to report a loss for the year
we think were at the end now in terms of bidding said the firms arbitrageur who spoke on condition he not be identified
koehler said that transactions on foreign exchange markets had parted company with transactions in goods services and investments
australian weekly wheat shipments week to 23 29 in tonnes for crop year beginning oct 1 current week prev week 316024 297045 crop year to date prev crop to date 7217394 8422811
daewoo unit raises 45 mln dlr loan
the independent institute said in its quarterly march issue that it was also revising its fiscal 1987 real gross domestic product gdp forecast to a fall of 05 pct against the one pct drop forecast in december
the cattle are for delivery may 1987 october 1988 it said
coastal corp cgp and units upgraded by s p
imports were 263 billion against 225 billion and 232 billion
shr six cts vs five cts net 459131 vs 289433 revs 1808832 vs 1680240
the accelerated program could provide additional unbudgeted revenue to boost industrial and research investment and spending on infrastructure such as the national motorway network
fed sets two day system repurchases
but the employers federation vno noted the dutch economy had become more competitive since 1980 and the fall of the dollar was affecting this gain more than the ems realignment
banner bnr completes rexnord share purchase
banque francaise du commerce exterieur bfce is issuing a 17 billion yen eurobond due may 11 1992 with a 4 3 8 pct coupon and priced at 102 3 8 pct lead manager nippon credit international ltd said
spain unveils a 105 billion peseta plan this month aimed at boosting exports to reach european community levels director general of the infe export institute apolonio ruiz ligero said
the company said it launched a 700000 dlr exploration program at the mines to increase production and ensure the operations continued long life
they said that while the fed faces no great urgency to add reserves at the start of the two week maintenance period today it would probably do so in order to offset a relatively high federal funds rate
further us demand could be sluggish because winter the period of greatest consumption is ending
the conversion price was set at 1052 yen while the foreign exchange rate was fixed at 14620 yen per dollar
the company also announced the formation of rare tech minerals inc a wholly owned subsidiary
proceeds may be used for debt refinancings capital expenditures and other general corporate purposes the company said
the syndication of the deal was designed to enhance the foreign trade banks relationship with japanese financial institutions bank of tokyo said
noranda inc said production will remain shut down at its fire damaged copper mine here until it can completely examine the mine
the case involving the toyota shoji company was highlighted when its 32 year old chairman kazuo nagano was stabbed to death here in public view in june 1985
net loan charge offs were six mln dlrs down from 11 mln dlrs a year ago
taft also said the new proposal would be submitted to the board but no decision had been made with respect to the sale of the company
it said spending is expected to advance to 215 mln dlrs in 1988 and 220 mln dlrs in 1989
meanwhile moodys investors service inc said its initial rating of b 1 for the notes remained appropriate
when delivery months and coupon payments do not match a 20 pct withholding tax is imposed on interest earned by non resident bond holders a deterrent to liffe securities managers said
brazilian seamen say 14000 now back at work
standard and poors corp said it cut the ratings of atlantic city electric co
teva pharmaceutical industries ltd based in israel said it sold its wholly owned promedico subsidiary to foreign investors for four mln dlrs
the report said that since much of the early growth in february was from late seeding rather than from normal development his view was that the damage may be more extensive than some local observers say
with cotton more attractive price wise i think there is going to be a switch in acreage from soybeans to cotton
most of its companies performed well despite a slowdown in the us uk and australian economies in the first half
also analysts noted the budget does not go overboard with measures that are seen as generous to the wealthy
reagan to announce decision on japan sanctions
they have demanded a larger allowance for non member cocoa in the buffer stock than producers have wanted
twa files application seeking right to raise usair stake to 25 pct
year ago earnings not comparable because of acquisition by aancor holdings inc on april 29 1986
dealers said federal funds were trading at 6 1 4 pct when the fed began its temporary and indirect supply of reserves to the banking system
gamco investors inc an affiliate of gabelli and co plans to propose an anti greenmail provision at the gencorp inc annual meeting march 31 according to gamco chairman mario gabelli
average prices fell to around 110 cents a lb following the news of the breakdown but we expect them to move back again to around 120 cents within a few weeks the roaster added
nestle reported net profits of 179 billion francs for 1986 up 22 pct from 1985 while turnover fell 99 pct to 3805 billion as the swiss franc strengthened against other currencies
the banks stake has since been cut to 164 pct in return for 157 billion dlrs
gaf gaf to purchase up to 21 pct of stock
york said it will use the 11 mln dlrs as a construction pool to initially fund a series of cogeneration projects which it willk design build partially own and operate with six projects already committed
a group led by members of the wealthy bass family of fort worth texas which holds a 249 pct stake in taft broadcasting co said it has had talks about taking part in a move to take control of the company
his nakasone remarks should have been made and should have had a bigger influence when the dollar was still above 150 yen said ps tam of morgan guaranty trust
information ministry officials said the price freeze was aimed at protecting poor ecuadoreans from a wave of specualtion
conable who flew to indonesia yesterday from tokyo will meet with president suharto and senior economic ministers
usda accepts offers for 550000 tonnes of bonus wheat for china
goldome fsb year net
lynch corp lgl unit buys television station
unlike coffee which is controlled through export registrations cocoa exporters in brazil operate at their own free will a trade source said
myers industries inc mye 3rd qtr net
shv holdings nv said it is withdrawing its take over bid for imperial continental gas association icgsl after failing to gain the minimum number of pledges sought from ic gas shareholders
north yemen has called a buying tender for saturday for the purchase of 30000 tonnes of white sugar for arrival in june traders said
with the abundance of grain and cotton in the past few years some people got carried away relaxing their attention to grain and cotton production he said
tesco extends hillards offer
but the aide to lyng said it was doubtful that the department would offer a retroactive bonus to farmers who enrolled land in the 10 year conservation reserve last year
the rating agency cited alleghenys high leverage and poor operating performance as well as reduced cash flow
the loan will also support development of technical capabilities for energy audit work and strengthen the financial and institutional capability of lbl the bank said
mpt thrust into the spotlight by trade rows with the us and britain is in a position of strength due to its control of a lucrative industry and its ties with important politicians they said
amoskeag bank shares inc amkg 1st qtr net
general electric credit corp a unit of general electric co said it has called for redemption on april 13 1987 its 150 mln dlrs 7 5 8 pct notes due 1988
such targets threatened to cause policy conflicts both within countries and between them for instance the us reliance on foreign capital to fund its deficits requires interest rates there be set at high levels but domestic considerations call for low ones
japanese seen lightening us bond holdings
its an option not an obligation a spokesman said
the bank said the public sector contribution to the growth in sterling m3 was contractionary by about 23 billion stg
permits for single family units fell 32 pct last month to a seasonally adjusted 990000 units after a 30 pct august rise
csr said it had dropped plans to float its oil and gas interests held in the delhi australia fund and would instead sell them to exxon corp unit esso exploration and production australia inc for 985 mln dlrs
the warrants give the right to subscribe to a second series of bonds a 200 mln guilder 65 pct six year bullet loan
a follow up half point cut is anticipated next week
canadian imperial bank of commerce has committed up to 340 mln dlrs in senior debt financing it said
rank organisation says it launching 100 mln stg commercial paper program
chancellor of the exchequer nigel lawson told reporters earlier today that some countries those with strong currencies might have to cut interest rates
mci communications corp president bert roberts said he expects mcis financial performance to improve in the current quarter compared to the previous quarter
finance minister jaime ongpin did not refer to the prepayments at a news conference he held in new york on friday to announce the rescheduling agreement
thailands main paddy crop is expected to fall to 154 mln tonnes in the 1986 87 nov oct season from a previous 1568 mln estimate in november and an actual 1735 mln a year ago the thai rice mills association said
to maintain year on year growth of around 25 pct the economy would have had to rise about 12 pct in the fourth quarter as the final quarter of 1985 was strong
compaq cpq expects higher first quarter net
trade body sets new rules for eurodlr managers
most american aggregates amag stock acquired
imperial oil raises crude oil postings 32 canadian cts bbl light sweet now 2560
the peso dollar rate has to be undercut to make our exports more competitive monsod said an interview
the currency was hovering around 7678 cts in early afternoon trading
fidelcor said it would acquire most of lazeres loan portfolio and other assets including its miami office
they told the housing program loan request is for 100 mln to 150 mln dlrs
traders said cattle prices advanced at midsession as rumors circulated that the lockout was ending and gains were further fueled by a noticeable increase in demand for live animals on cash markets in nebraska and the texas panhandle
deputy secretary peter myers said the action was being taken to help alleviate the short supply of oats
the non callable bond is available in denominations of 5000 dlrs and will be listed in luxembourg
the company said universal adhesives with five us plants has annual sales of 12 mln us dlrs which will double timmincos presence in the north american adhesives market
musicland group inc tmg 3rd qtr net
representatives from brazil colombia mexico and nicaragua will meet here friday to discuss the economic impact of falling coffee prices a nicaraguan official announced
de mel said clones in the nurseries which are susceptible to corynespora identified as ric 103 ric 52 ric 104 ric 106 ric 107 and ric 118 will be uprooted and burned
the analysts also said hughes may be worried that its troubles could make it a takeover candidate
herrington did not specifically confirm a report in todays washington post that he had written to president reagan urging an increase in the oil depletion allowance
the sources said only 80 personnel can be housed in remaining accomodations the sources said
we want to be in every country that att serves he said
money supply control is the governments chief weapon against inflation he said
the companies will consummate the transactions as soon as the required approvals are obtained mclean said
australias seasonally adjusted unemployment rate eased to 82 pct of the estimated workforce in february from 83 pct in january compared with 79 pct a year earlier the statistics bureau said
a broader 0 92 might be resurrected later because both the congressional budget office and the reagan administration estimate it would result in significant budget savings
citgo last changed its postings on march four
shr profit five cts vs loss nine cts net profit 21045 vs loss 34238 revs 1156775 vs 963890 six mths shr profit 12 cts vs loss five cts net profit 48711 vs loss 18300 revs 2124157 vs 2009956
mgm ua communications mgm 2nd qtr feb 28 loss
london cocoa trades at lows by midmorning
asked if anyone has offered to buy the unit which is the nations largest health club chain peltier said no one has the money to offer to buy it the fitness industry is a fragmented industry with no leader and there is a great opportunity for growth through acquisition and then standardization said wayne lachapelle chief financial officer of livingwell inc well the nations second largest fitness chain operator whih lachapelle said livingwell is always interested in acquisition opportunities but could not afford an acquisition the size of bally at this time
the reporting of the february trade data was delayed several weeks to permit gathering latest figures on imports and exports to give a clearer picture of the monthly trade balance
we have nothing to lose
alcad is one of the worlds largest producers of pocket plate nickel cadmium storeage batteries used in industrial and railroad applications to start engines and as light sources saft said
the failure of seasonal rains has already seriously affected drinking water supplies farming and fishing in parts of the central and volta regions of ghana where rivers have dried up
indonesia hopes to boost its non oil exports to make up for oil revenue lost because of lower prices
reagan says us needs to lessen oil imports
average interest rates on yen certificates of deposit cd fell to 413 pct in the week ended april 8 from 433 pct the previous week the bank of japan said
dharyono kertosastro said in an interview that indonesia the worlds third largest producer is trimming costs and improving its marketing while seeking a compromise on quotas
it said a finding on any possible increase should be completed by april 15
a five year production and investment plan launched in 1984 by zccm is being funded by the european community the african development bank and the world bank
hudsons bay writeoff mainly due to dome stake
the bundesbank set a new tender for a 28 day securities repurchase agreement offering banks liquidity aid at a fixed rate of 380 pct a central bank spokesman said
in the fifth year the coupon rises to 7 1 2 pct but the bond is callable after four years
the merger of uccel and computer associates combines the two biggest systems utilities suppliers other than ibm
traders said that barring any surprises in tonights report they expect the report to be neutral to bearish for oil prices
de clercq told the official china daily that more joint ventures should be set up in china as a way of reducing chinas trade deficit with the ec
korea petrochemical industries corp a producer of high density polyethylene hdpe and polypropylene will more than double its ethylene requirements to 9000 tonnes a month from 4000 when it completes a plant expansion at the end of this month the sources said
trade surplus cut would benefit japan sumita
new england savings bank nesb 1st qtr net
year on year the deflator rose 37 pct
the proposal involved three key principles
somphol kiatpaiboon director general of the commercial economics department said an absence of ico quotas would encourage producers to rapidly release coffee on to the market further depressing prices
us to sell 132 billion dlrs in bills
american express fell 3 1 8 to 77 3 8
another 698000 dlrs of gain from sale sale has been treated as deferred income
key centurion bancshares inc said it reached an agreement in principle to acquire central national bank of buckhannon in w
shares of crazy eddie which have jumped from the high 4 dlr range to above 7 dlrs since the antar belzberg bid was announced may 20 rose another 50 cents monday to 8375 a share in over the counter trading
net excludes tax loss carryforward 1423000 dlrs vs reversal of tax credit 625000 dlrs in quarter and credits 5437000 dlrs vs 7261000 dlrs in year
someone should establish it a us sprint spokesman said
harcourt is asking the court to rule the company is not required to issue common to debenture holders who did not convert prior to june eight
the government plans to concentrate efforts on western europe and the us the problem is convincing businessmen that exports are vital to survival in the context of ec competition he said
ual said it made the move principally to broaden its equity base thereby making additional borrowing for ongoing capital requirements easier
dealers saw the dollar staying at current levels but possibly rising above 183 marks on any supporting remarks emerging from the meetings
china scrapped vessels of some 11 mln ldt last year while south korea demolished ships of 910000 ldt he said
the central bank has said the controls will be dropped by the end of july or early august
in particular we urge increased publicity for imf appraisals developed in article iv consultations the use of follow up reports on country actions to implement imf recommendations and greater use of special consultation procedures he said
wang said the trade surplus and the reserves weakened taiwans position in talks with washington over export quotas particularly for shoes textiles and machine tools which are among the islands main export earners
excluding exchange rate movements world group turnover rose 89 pct and incoming orders increased 10 pct
the interest rate spread agreed was 7 8 of a percentage point over libor
the governments own proposal for an across the board daily pay rise of six pesos for non agricultural workers and eight pesos for agriculture workers would push the full year average higher to 54 pct she told the senate last week
finance minister chrispus kiyonga said last month that most of the one billion dlrs would go towards rehabilitating industries repairing and maintaining roads and buying tractors and other agricultural needs
japan september m 2 plus cd money supply rises 111 pct year on year aug 110
in its offer twa said as an alternative to a merger with usair it would be interested in discussing a three way combination among usair piedmont and twa
morrison sees 1987 earnings at 125 dlrs and 1988 at 175 against losses in 1986
production of fish meal by the three south american producers chile peru and equador last year reached 25 mln tonnes equalling the record output of 1970 the international association of fish meal manufacturers iafmm said
in addition to the miners strike about 1000 railway factory workers of the bolivian labour organization cob began a second day of a hunger strike in the countrys main cities to press for substantial wage increases a union leader said
each granted the other an option to purchase authorized but unissued shares amounting to 2499 pct of the fully diluted shares outstanding
morrison inc morro 4th qtr may 30 net
i give you my word that france while it will not reject technical adjustments or serious discussion will simply reply in the negative to these bad reforms guillaume told the annual conference of the countrys major farm union fnsea federation nationale des syndicats dexploitants agricoles community agricultural ministers are due to meet again monday to try and agree a package of reforms to curb spiralling ec output and fix farm prices for 1987 88
but public authorities received some one billion marks from abroad the bundesbank said in a statement
tandem computers tndm sees higher net
thirdly saudi arabia may be forced to raise prices earlier than it intended to ward off growing calls for higher prices from the us to stimulate domestic drilling and exploration
despite this buying the price of cocoa is well under the 1600 special drawing rights sdrs a tonne level below which the bsm is obliged to buy cocoa off the market
williams holdings says it bidding 5422 mln stg for norcros ordinary shares
dutch shipping and transport group phs van ommeren nv ommnas said it has taken over a small dutch gas container firm as a first step in establishing a world wide gas container organisation
they were not simply pledges to maintain currency stability but also to conduct a certain type of economic and monetary policy he added
he told an informal general agreement on tariffs and trade gatt meeting the widening gap between developed and developing countries and an inequitable international economic system were major impediments to growth in developing countries
but they are not so sure if that would be a brief corrective dip or whether this weeks falling share prices mark the start of a bear market
chinas trade deficit in january fell to 310 mln dlrs from 460 mln in january 1986 the china daily business weekly said
the senate voted 67 28 to stop a filibuster and limit debate to 30 hours on a bipartisan measure that requires reagan to report to congress on gulf policy within 60 days and calls for a resolution to be passed in the house and senate on the situation in the volatile waterway 30 days later
under the plan the four companies will set floor prices for exports as prices have fallen sharply due to the yens appreciation against the dollar reduced world demand caused by lower oil prices and excess domestic capacity which resulted in price cutting competition the officials said
the world bank said it approved loans to jamaica totalling 104 mln dlrs to assist it with an economic structural adjustment program a sugar industry rehabilitation scheme and a population and health project
texas air corps eastern airlines said it completed its previously announced plan to sell its travel agency automation system systemone direct access inc and its computer and communications support unit eal automation systems inc to systemone corp a wholly owned subsidiary of texas air corp
the companies said they have five extracting plants and about 525 miles of transmission lines in five adjoining oklahoma counties
general computer corp gccc 3rd qtr feb 28 net
rainbow chief executive craig heatley said in our opinion bils actions over the last few days have been undertaken for their own strategic purposes which conflict with the desire of both companies to merge their interests bil has said it is against the merger because it sees progressive shares as being worth twice as as much as rainbows
west german banks have taken a more relaxed attitude to the brazilian suspension of interest payments than institutions in the united states because of their lower exposure
the debentures are convertible into the companys common stock at 4425 dlrs per share representing a premium of 2508 pct over the stock price when terms on the debt were set
it said it bought the shares as part of an agreement to raise its minority stake in first boston to 40 pct the same stake level first boston holds in financiere credit suisse
peru decrees firms should buy treasury bonds 
it said the two companies also agreed to share the results of their research and development activities in optical disc technology
he said domestic demand has fallen reducing the need for imports while greek exports are becoming more competitive
in 1986 it reported revenue of 55 mln canadian dlrs with a pretax loss of 16 mln compared with a 19 mln profit in 1985
philippine sugar crop set at 16 mln tonnes
this is a relatively new problem for us citroen lost close to two billion francs in 1984 but cut the deficit to 400 mln in 1985 helped by moves to modernise its range and improve productivity
merx has since withdrawn from the oil market
us house speaker wright concerned of interest rate rise under greenspan
chile china to establish peking copper plant
it said the debentures were issued in three parts consisting of a 20 mln dlr issue at 104 pct maturing march 31 1997 22 mln dlrs at 106 pct maturing march 31 2002 and 58 mln dlrs at 107 pct maturing march 31 2007
varian var in talks with philips electronics
european community agriculture ministers will meet tomorrow evening after the end of a two day summit meeting of heads of government to again attempt to agree a 1987 88 farm price package an ec commission spokesman said
p and o will concentrate on expanding in its established market sectors
gulf and western gw ups interest in network
where the rains were less heavy they were considered beneficial although too late to improve yield estimates
another frustration has been britains failure to lend the ems political support by keeping the pound still a major world currency outside the system
kenyan farmers are anxiously awaiting the arrival of the long rainy season which is due to start about now
french caisse nationale des autoroutes issues bond
southmark corp sm which owns 80 pct of national heritage recently agreed to acquire the 28 facilities
the deal will close after obtaining italian government approvals expected in late april
the unadjusted consumer price index for the tokyo area base 1985 in mid march rose 04 pct from a month earlier to 1006 reflecting higher vegetable prices
since president jean claude duvalier fled haiti fourteen months ago widescale smuggling of basic goods such as cooking oil flour rice sugar and canned milk has lowered consumer prices but bankrupted several local manufacturers throwing hundreds of thousands of haitians out of work
materials output increased by 02 pct last month the fourth consecutive monthly increase after declining throughout much of 1986
smaller price rises for motor fuels and declines in new car prices and finance charges were responsible for the moderation
venezuelan officials said this amounted to an effective grace period something the banks had refused to grant
earlier the company reported net income declined to 2650 mln dlrs from 2830 mln dlrs in the first quarter a year ago
the us initiative was introduced last december at a meeting held here under the auspices of the united nations conference on trade and development unctad the us the worlds largest copper consumer and second biggest producer after chile has proposed setting up a body to improve statistics and market transparency of the copper economy and provide a forum for discussion
he told a lower house budget committee in parliament that the six nations have taken measures including market intervention to support the dollar above that level
company operating in chapter 11 bankruptcy
we believe an overweighting in stocks is warranted because of the positive momentum of corporate earnings said christine lisec tinto merrill senior investment strategist
cross and trecker ctco buys automation unit
but the sources said it would be geared to generate agricultural exports and would need a substantial injection of fresh loans that sudan hoped to receive from gulf arab states
api said the decline in domestic production and the rise in demand brought petroleum imports to about six mln barrels a day in february a 303 pct increase from last years level
bolt beranek and newman inc bbn 1st qtr net
the new privately held company named honeywell bull is 425 pct owned by honeywell inc 425 pct by bull and 15 pct by nec the new company said
4th qtr shr nine cts vs four cts net 658159 vs 299930 revs 3770341 vs 2614224 avg shrs 7382802 vs 6747442 year oper shr 33 cts vs 18 cts oper net 2287179 vs 1045799 revs 131 mln vs 8577853 avg shrs 6874505 vs 5951612 note 1985 year net excludes 13000 dlr tax credit
two brazilian shipping firms settle with strikers
mercury entertainment corp mcry year nov 30
rapeseed planting of an estimated 324 mln is expected five pct up on 1986
meanwhile there were strong rumors in new york that the fed also bought a modest amount of dollars around 14850 yen today
asked if the bank of japan will consider a further cut in its discount rate he said he now thinks the bank will have to carefully consider its future money policy
they also said the government should reduce tax preferences which would simplify the fiscal system urged a restriction of state spending and called for no increase in value added tax
share analysts said swire will set a 36 cent final dividend for its a shares making a total of 54 cents after 47 cents adjusted for a two for one bonus issue in 1985
bundesbank credit policy changes unlikely
but tehran denied last sunday it intended to threaten gulf shipping and warned the us any interference in the region would meet a strong response
futures traders said tight cash supplies should help july soybeans and soymeal gain on deferreds
profits increased in bicc technologies and in bicc international in local currency terms while associated british cables had another excellent year the company said
japanese crushers buy canadian rapeseeed
the way we are now collecting data is far more accurate and we are asking many more questions to find out whether the jobless want work whether they are able to work and whether they have actually looked for work he told 
shr 95 cts vs 30 cts net 9139000 vs 2894000 revs 1356 mln vs 1185 mln nine mths shr 281 dlrs vs 195 dlrs net 270 mln vs 188 mln revs 4065 mln vs 3728 mln
eg and g inc egg sets quarterly
6 pct stake in american medical and the company has previously said the investors support managements internal plan to improve the companys performance
it operated the field until dredging ceased in 1967
ross stores inc rost 4th qtr jan 31 loss
k l
the bank of japan said it forecast japans broadly defined m 2 money supply average plus certificates of deposit cds will rise by about nine pct in the current april june quarter against 85 pct a year earlier
the issue is available in bearer and registered form in denominations of 5000 dlrs
although there was inflation at least the economy worked a leading bank economist said
the company said it views its near term prospects with improved optimism
africa may have to follow brazil in halting foreign debt payments unless industrialised nations are prepared to be more flexible in trade and economic policy ethiopian trade minister tesfay dinka said
herrhausen said he did not expect any major narrowing of the us trade and budget deficits in the next few months
qtly div 1 1 2 cts vs 1 1 2 cts prior pay april 15 record march 30
these sales are a continuation of an asset redeployment program at kaiser cement and will allow kaiser to concentrate its efforts in the california marketplace where it is the largest cement producer and holds a premiere market position hanson industries chairman gordon white said
chrysler c and units affirmed by s p
gros said the decision which he called a standstill arrangement will be communicated to brazils 700 bank creditors by telex tomorrow
hong kong raises exchange fund borrowing limit
bundesbank allocates 65 billion marks in 28 day repurchase pact at 380 pct
the corn crop is expected to be a record and will create serious storage problems the report said
ag edwards inc age 1st qtr may 31 net
treasury secretary james baker said he expected the us trade deficit to fall by 15 billion to 20 billion dlrs in 1987
we support the freedom of navigation in the arabian gulf and the strait of hormuz the agency quoted zverev as saying
while the energy trade balance surplus rose by 54 billion guilders 47 billion of this gain was caused by temporary improvements of terms of exchange and was aided by the delay between the fall in oil and gas prices
us crude oil stocks were reported down by 44 mln barrels for the week ended march 13
australian prime rates have now retreated from a recent peak of 19 pct in october in line with declining money market levels
moodys investors service inc said it upgraded 475 mln dlrs of debt of continental airlines inc a unit of texas air corp
he said the ecs executive commission had accepted the governments view that epac should be eligible
national business loan data are scheduled to be released on friday
shr loss 94 cts vs loss 125 dlrs net loss 121 mln vs loss 159 mln revs 3307000 vs 162 mln note current year includes writedown of 85 mln dlrs
the notes will be listed on the new york stock exchange
first federal savings bank ffsdo 2nd qtr net
the senate team next heads for the united arab emirates their last stop on a fact finding mission prompted by reagan administration plans to let half of kuwaits 22 tanker fleet fly the us flag
ec external trade commissioner willy de clercq has written to his us counterpart trade representative clayton yeutter outlining the ecs concerns
we have yet to fully benefit from our recent product announcements retirement incentives and other resource balancing measures and we expect these actions will have a more significant impact as 1987 progresses the company added
canrad cnrd acquires measurement systems
exchange losses had per share impact on royal dutch of 14 cts vs 31 cts in quarter and 96 cts vs 126 dlrs in year and on shell transport of eight cts vs 17 cts in quarter and 51 cts vs 71 cts in year
in december it allowed non residents holding at least an a rating from one of the agencies to issue samurai shogun and euroyen bonds without first meeting the normal stringent financial criteria
output in services producing industries declined 01 pct from decembers level
drought has resulted in a reduction in chinas estimated wheat crop this year to 870 mln tonnes 20 mln below last years harvest the us agriculture departments officer in peking said in a field report
these do not have any economic clauses but provide a forum for discussions on possible future economic agreements collect statistics and draw up market analyses
bank officials have said the bank regards the overdraft reference rate based on short term rate trends as its key prime lending rate to corporate customers
shr 75 cts vs 64 cts net 110 mln vs 9379000 nine mths shr 44 cts vs 178 dlrs net 6411000 vs 254 mln note 1987 nine mths net reflects 30 mln dlr addition to latin american loan loss provision
earlier today afg and wagner and brown said that without the benefit of additional information available to gencorps management it cannot compete economically with gencorps proposal
mcgraw hill inc said it has sold its mcgraw hill book co south africa pty ltd subsidiary to a local management group for an undisclosed amount of cash and halted the sale of all products and services to south africa
asarco ups us lead price 050 ct to 2650 cts
year includes writedown of 36 mln dlrs
reagan last year blocked senate consideration of a tough house trade bill he branded as protectionist and this year he only reluctantly agreed to support a trade bill when he saw democratic leaders were determined to pass such legislation
the us index of leading indicators rose a seasonally adjusted 07 pct in february after a revised 05 pct january fall the commerce department said
shr eight cts vs 16 cts net 188000 vs 354000 revs 538000 vs 594000 year shr 31 cts vs 28 cts net 692000 vs 617000 revs 2640000 vs 906000 del e
federal funds which averaged 620 pct yesterday opened at 6 1 8 pct and remained there in early trading
a schulman inc shlmo 4th qtr aug 31 net
moodys said the review was prompted by the recent bid by donald trump to acquire control of the company
secretary of state for trade miguel angel fernandez ordonez said this week that the annualised inflation rate for february not yet officially announced fell to 55 pct from six pct in january compared with inflation of 83 pct during 1986 and a government target of five pct for this year
chinas trade deficit in the first quarter fell to 105 billion dlrs from 304 billion in the same 1986 period customs figures show
a relatively steady interest rate climate reduced volume in the most active contract treasury bond futures by 175 pct from a year ago to 4307645 contracts
japan has the means to make a major contribution to development in the third world he told about 500 japanese businessmen and academics
an expected german mark appreciation against the dollar means that the lira should lose about six pct of its value relative to the german currency he said
the pipeline was shipping roughly 225000 barrels of crude oil per day or about 55 pct of its capacity during the 30 days preceding its shutdown on saturday stevens said
the issue was increased from an initial offering of 20 mln dlrs because of investor demand
diesel would rise by 75 pct
primary metals orders were up 139 pct to 84 billion dlrs after a 20 pct decline in january the department said
occidental petroleum corp said the shiviyacu 23 development well on block 1 ab in the peruvian amazon jungle is producing 6593 barrels of 22 degree gravity oil per day from depths of 9543 to 9547 and 9556 to 9599 feet
id be delighted to deliver the message kay replied
goodman fielder ltd goows of australia said in a statement that it had acquired 31 mln ordinary shares in ranks hovis mcdougall plc rhmll rhm bringing its stake in the company to 299 pct or 101 mln ordinary shares
stritch also said the companys annual revenues should exceed 60 mln dlrs up from 41 mln dlrs in the previous fiscal year
usage in the 1985 86 season at 5255 vs 5255 last month
increasing reliance on the middle east will also boost the incentive to use natural gas and synthetic sources of petroleum he added
ortiz mena told reporters that the banks member countries will discuss a plan by the united states to reduce the loan veto power from the current majority to 35 pct
the companys implied senior debt rating is ccc minus
the shares last traded at 579 yen
ec commission authorised to buy maize in june
the investors told the sec they are continuing to review their positions company and may acquire more shares or sell some or all of their current stake
duro test corp dur 2nd qtr jan 31 net
youre going to have a hard time convincing congress now this is an urgent issue the coffee analyst said
after tax these gains added 68 mln dlrs or six cts per shr to net income
the newspaper gave no other details
glamis gold ltd said it will ask shareholders at an april 1 extraordinary general meeting to approve a one and one half for one common share split
cattle prices continued to draw support from the winter storm that swept the plains states leaving animals stranded in snowbound fields and feed lots in miserable condition
three japanese credit rating agencies are entering into fierce competition with moodys japan kk and standard and poors asia inc the local branches of the two us giants as the japanese credit market opens up to foreigners japanese rating agency managers said
december loading rose to 1965 dlrs up 45 cents before falling to around 1905 15 later unchanged from last friday
there is a possibility that the dollar may decline to around 14000 yen by the end of this year said chemical bank tokyo branch vice president yukuo takahashi
producers say they have been losing 25 to 30 ecus on every 100 kilos exported due to the failure of rebates to fully bridge the gap between ec and world prices
wang was the most actively traded stock on the american stock exchange rising 3 4 to 16 5 8
the partners in the study are neste oy celanese canada inc hoechst celanese corporation and trade mountain pipe line company ltd of vancouver bc the edmonton site was suitable because of the raw materials availability the proximity to pipeline transportation and the important capital and operating advantages gained by locating on an existing celanese canada site the statement said
however the unit cit group holdings incs aa minus senior debt and a 1 plus commercial paper were affirmed
but its not as big as taikoo shing he said
if the connecticut law is not amended in time lougee said an option would be to spin off that unit with repurchase provisions
however chevron officials declined to comment on the analysts reserve estimates
under the terms of the provisional agreement venezuela would supply up to 160000 barrels a day to the plant through a new company which would be jointly owned by the pdvsa and champlin a subsidiary of the union pacific corp unp the deal would also allow pdvsa a joint share in champlins refinery and distribution network
the asian development bank adb will open an office in jakarta later this year to speed up work on indonesian projects bank vice president s
in the last two years acreage under sugar cane and beet has fallen sugar mills are underutilised output has dropped and cannot meet demand that is rising every day it said
but the analysts said the heavy buying in futures occurred after the june bond broke above stiff resistance at 101 2 32
oesterreichische laenderbank ag olbvvi 1986
japanese yards topped world order books at end december followed by south korea and taiwan according to lloyds register of shipping
consumer delegates said bra kanon had not formally presented the compromise plan to producers and consumers and it was unlikely he would do so before friday they said
glenn english d okla sparked sharp controversy with its proposals to implement a 0 92 program for 1987 wheat and 1988 winter wheat
grain certificate redemptions put at 240 mln bu
the rationalisation program includes a cut of 20000 to 30000 of the estimated 100000 workers in the industry between 1986 and 1989
no price was disclosed for the acquisition
in that kind of situation further sizeable depreciation of the dollar could well be counterproductive he said
centel corp said it completed the sale of its water properties serving 8000 customers in four southwestern kansas communities to central kansas utility co of columbia mo
james murren of cj lawrence said wendys could be worth 14 to 15 dlrs on a break up basis
the fitness club industry over the last 10 years has grown tremendously but the question is whether its a fad or a permanent part of our lifestyle said eisenberg of bear stearns
trans world airlines inc said it filed suit in delaware chancery court against usair group inc and its board of directors seeking to invalidate its poison pill anti takeover plan
woolworth eased to 813p from 830p
a group of companies controlled by brookehill partners inc told government authorities it may support a buyout of cardis corp as a way to maximize the value of the companys stock
conable said additional commercial bank investment would also be to japans advantage
ual ual units eight year notes yield 806 pct
the two new container cranes join one danish container crane already installed in the port which is an important trade outlet for tanzania zambia malawi and eastern zaire
but growmark became affiliated last year with archer daniels midland of decatur ill and markets its grain through a joint subsidiary of the two companies adm growmark
memory protection devices inc said it completed its acquisition of the assets and liabilities of bogen a division of lear siegler for 9200000 dlrs in cash
northern indiana public service co is full name of company
affirmed were the companys bbb minus senior debt bb plus subordinated debt and a 3 commercial paper
i believe the entire chemical industry is headed for a record year or close to it oreffice said
avery avy sets two for one stock split
there was a wave of panic buying early in the morning as people tried to cover gaps and build long riyal positions said one dealer
megavest to acquire computer trade development
depending on how the negotiations go on the terms of chinas gatt membership yeutter said he could put the final touches on the us part of the agreement during his trip
brazilian bank workers voted to launch a nationwide strike this month compounding labour unrest arising from the failure of the governments anti inflation plan
moodys investors service inc said it downgraded 700 mln dlrs of debt of dana corp and its unit dana credit corp
universal foods corp ufc votes dividend
both nicho and resler left their end june prime rate forecast at 7 1 2 pct
dealers said federal funds were trading at 6 3 8 pct when the fed announced the operation
the ban will affect products such as uncanned meat milk ham butter and bacon bopa reported
groupe bruxelles lambert profit up
the bank last cut one to three month certificate rates on june 5 also by 010 points
haiti czechoslovakia join cocoa organization
subscriptions close april 16 and pay date is may 14
it will be business as usual for texaco said martin klein a bankruptcy attorney at the new york law firm dreyer and traub
the cia dia report predicted two to three pct growth in the soviet economy over the next several years
chemlawn corp echolab inc sign definitive merger agreement
baker international has proposed a merger with hughes tool which could create a 12 billion dlr oilfield services company
but the fever continues and the number of offerings could double again in 1987 said naoki yokoyama manager of nikko securities co ltds international capital markets operation
for the nine months davis said earnings per share would convert to 77 cts and 44 cts for fiscal 1987 and 1986 respectively from 58 cts and 33 cts respectively
until 1983 the policy of the irish government was to was to adopt a neutral stance in any realignments within the ems
in its weekly statistical bulletin the oil industry trade group said gasoline stocks rose 229 mln barrels to 24791 mln barrels from a revised 24562 mln and crude oil stocks were up 852 mln barrels to 33773 mln from a revised 32921 mln
wickes came to the uk unlisted securities market in january 1986 with a capitalisation of about 96 mln stg
us treasurys mulford reaffirms g 6 agreement
cri insured mortgage investments ii inc said it expects to distribute about 155 to 165 dlrs per share from operations for all of 1987 and about 168 to 175 dlrs including the proceeds of the gain from the sale of the brighton meadows mortgage through january 31
frances cna issues 120 mln ecu eurobond
marine midland mmb raises prime rate
dharyono said if new quotas are not agreed he believed indonesia was well placed to survive low prices
shr profit 226 dlrs vs loss 81 cts net profit 9785000 vs loss 3422000 revs 260 mln vs 189 mln avg shrs 4316000 vs 4207000 1st half shr profit 275 dlrs vs loss 107 dlrs net profit 119 mln vs loss 4486000 revs 390 mln vs 372 mln avg shrs 4318000 vs 4181000 note current year net both periods includes gain 9500000 dlrs from sale of orange co of florida subsidiary to american agrnomics corp agr net includes pretax real estate disposition loss 920000 dlrs vs gain 52000 dlrs in quarter and loss 863000 dlrs vs gain 117000 dlrs in half
the bills will be issued april 16
proceeds will be used to reduce borrowings and other general purposes
shr 112 dlrs vs 127 dlrs net 15000000 vs 11900000 avg shrs 9642403 vs 8322245 loans 457 billion vs 329 billion deposits 680 billion vs 475 billion assets 775 billion vs 537 billion
stoltenberg and bundesbank president karl otto poehl said the importance of the paris agreement also known as the louvre accord had been underestimated
the accords were reaffirmed by the group of seven finance ministers in washington last month
the official gave no figure for february output
they would give no details noting that the white house had not commented on the decision
the meeting was originally convened on june four when shareholders approved the sale of becors western gear corp subsidiary before adjourning
we dont have any particular changes in mind earlier today gaf announced that a 316 billion dlr offer was presented to the board of directors of the chicago based company
eyskens said the ministers and central bankers also discussed the need to dedramatise realignments of ems parities by letting high ranking monetary officials carry them out by telephone rather than calling a meeting of finance ministers
shr profit three cts vs loss 10 cts net profit 765000 vs loss 2600000 revs 9259000 vs 14479000 six mths shr profit three cts vs loss 11 cts net profit 875000 vs loss 2303000 revs 177 mln vs 292 mln note campbell changing its yr end to dec 31 from june 30
but new outflows of funds to the us will be decreasing however this was already evident three months ago he said
there are hints that gnp is picking up
it slid to 2917 marks from 2950 yesterday and from a peak of about 298 recently
balances in tax and loan note accounts fell to 21334 billion dlrs from 25164 billion dlrs on the same respective days
allegis has said that it plans to sell westin buyt has not announced that a deal has been set
bookings recovered in the latter part of the third quarter the company said
more greenidge also said a world bank mission would visit georgetown this week to assess prospects for a rescue plan that would enable guyana to revive its economy
in view of the strong demand and seasonally reduced supplies apple prices are projected to stay firm
the retail price index rpi britains measure of inflation rose 04 pct in february on a revised basis to give a year on year rise of 39 pct the employment department said
raytheon co rtn 1st qtr net
its just a question of managements willingness to let the process continue said one arbitrager
production costs are considerably higher in the united states than in such areas as the middle east and as prices fell many domestic producers were forced to shut down their operations
the sharp rise in turnover reflected the groups acquisition of the loss making screg construction group last year
the balance of the cash in the trust will be held by the trust until april 29 and will be used to satisfy all ouststanding liabilities and obligations of the trust
the main measure of uk broad money sterling m3 grew a provisional seasonally adjusted 2 1 4 pct in february after a rise of 11 pct in january the bank of england said
m 3 which is non personal fixed term deposits and foreign currency deposits of residents booked at chartered banks in canada fell 696 mln dlrs to 21574 billion dlrs
but he has not put together a consortium nor has he been buying shares he was quoted by the irish magazine business and finance as saying he would be interested if it came on the market and that he had the support of two international banks if he decided such a purchase might be worthwhile
the only guarantees recognised are those given by us and uk governments or in the us by domestic national government agencies the proposals showed
but the deficit is improving in volume terms and will soon begin showing improvement
the us data due out this afternoon is expected to be weak placing the us unit under renewed pressure and robbing the market in dollar denominated eurobonds of fresh trading impetus one dollar straight trader said
british sugar processes all sugar beet grown in the uk the sugar beet processing campaign which began last month is expected to run until the end of january
general motors acceptance corp canada is issuing a 100 mln canadian dlr eurobond due october 15 1992 paying 8 1 2 pct and priced at 101 1 2 pct lead manager union bank of switzerland securities ltd said
lenders however want less risk higher profit transaction oriented and less labor intensive activities
brown transport co said it expects to report record 1987 results with revenues increasing to 214 mln dlrs and earnings per share between 125 dlrs and 130 dlrs
a 30 pct tariff increase introduced in january will only bring in an extra 600 mln bolivars per year as against additional debt costs of 900 mln
the strength of the economy and broad money growth are making it more difficult to see one in the near term said chase manhattan securities economist robin marshall
paice did not give a crop estimate but the awbs february wheat australia publication put the crop at 167 mln tonnes
illinois power co ipc two months february net
uk money market rates in a similarly calm response resumed the slightly easier trend of earlier in the morning after little more than a token blip as the figures came out
time tl to sell part of unit
it said issuance of the letter of credit is still subject to conditions including appropriate documentation but the letter is expected to be issued around april three
the company said results of balloting on a new collective bargaining agreement proposal in its seattle division are expected to be tabulated at the close of business tomorrow
a mas spokesman said a steering committee has yet to determine details but most of the new government securities will have a maturity of up to five years and 10 year paper may be issued if demand emerges
manufacturers hanover raises prime rate to 7 3 4 pct from 7 1 2 effective today
the us and most other consumers are still determined to make reimposition of quotas conditional on a redistribution of quota shares based on objective criteria ico observers remained sceptical that brazil would be prepared to accept a quota reduction when the ico council meets in september
the state treasury issues government paper with a maturity of up to one year
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
call money rates declined to 375 80 pct from 390 95 yesterday with the market well stocked with liquidity
ussr seen likely to honor corn commitment
the european operations had sales of 186 mln dlrs in 1985 the last year for which results have been released the company said
cyacqs sweetened offer totaling about 398 mln dlrs tops dixons offer of 9225 dlrs a share or about 388 mln dlrs
us feb durable goods rose 60 pct
french government sets terms of bimp sale
in these matters theres many a slip between the cup and the lip as other governments have learned to their cost de mel said
greek prime minister andreas papandreou expressed restricted optimism about a crisis with turkey over disputed oil rights in the aegean sea
the worst may be just about over for japans battered economy but economists said they do not expect a vigorous recovery anytime soon
west germanys siemens ag siegf has teamed up with the french group jeumont schneider in opposition to a bid from the us group att tn and the dutch philips telecommunications bv pgloas in association with the french telecommunications firm sat societe anonyme de telecommunications a third bid has been lodged by swedens ab lm ericsson ericst allied with french defence electronics group matra matrpa and bouygues sa bouypa
lilly said it retained morgan stanley and co to help evaluate offers
the new system aims for an average of around 915000 tonnes of white sugar and to cut output of c sugar
the board first apprised the proposal on the 11th of march i suspect there will be several more meetings after this the spokesman said
this compares with the banks present band one dealing rate of 10 3 8 pct
sun co was the first to raise crude oil postings yesterday afternoon and today many other companies are following
crude oil prices rallied today moving over 1700 dlrs a barrel because of saudi arabias determined effort to support prices analysts said
however staple foods such as bread sugar and maize meal were not affected by the cuts and many people said this could provoke trouble from disgruntled elements who had expected more sweeping reductions
tender loving care said the extended merger agreement continues to provide for the exchange of 16 of its shares for each staff builders share outstanding
in last years third quarter national convenience earned 1788000 dlrs or eight cts per share including a gain of 2883000 dlrs from the sale of 186 stores to another operator
the central bank for the first time has an instrument with which it really can influence the price of money in this country one banker said
us bill auctions seen at 563 65 559 61 pct
gull inc said it sold 20 mln dlrs of senior notes due march 31 1999 to two institutional investors through oppenheimer and co
shr 11 cts vs 21 cts net 563000 vs 86300 revs 288 mln vs 325 mln avg shrs 50 mln vs 33 mln
wagner told a news conference that last years 343 pct rise in net profit from 1351 mln in 1985 was largely due to greater domestic business and wider margins on schilling interest rates
sarrazin told the business daily handelsblatt that brazils interest payments moratorium had cost it the goodwill of many banks
qintex again extends princeville pvdc offer
it granted 25 of the officials a severance payment of just under three times their annual compensation if they are fired after a takeover
some believe it signals a poll this june noting that the benefits such as income tax cuts and the decision not to raise duties on alcohol and tobacco become available immediately
but operators got their fingers burned as one by one the central banks signalled their displeasure
taft said the purchase price was 240 mln dlrs as previously announced
exxon said that its net share of crude oil and natural gas liquids produced from offshore fields in the north sea reached a new high of 422000 bpd
the fed said that business loans including acceptances fell 11 billion dlrs to 27867 billion dlrs
dart group corp was not immediately available for comment
terms of the contract were not disclosed but kellogg said the total cost of the plant will be 300 mln dlrs
first union corp said it is raising 100 mln dlrs through an offering of par priced 8 1 8 pct subordinated notes due december 15 1996
he said all of the companys major operations showed improved results in 1986
the issue is whether the 14 bank steering committee will endorse brazils request to the 700 creditor banks worldwide or simply relay it without comment
cattlemen often give their animals a constant supply of antibiotics in feed to help them grow faster
usg usg sells 10 year notes at eight pct
they included equity shares and rights issue worth one billion rupees planned to be issued this month by tata fertilisers ltd he said adding the issue has been postponed indefinitely
queensland government development has cp program
fed data suggest us credit policy is on hold
brazil has coffee to sell and wants to show that it does not need an ico agreement as a crutch dauster said
certainly it would be more difficult to maintain exchange rate stability if countries are seen not to implement their commitments in paris in this respect he said the us budget deficit was very important noting the 6000 billion yen economic package announced by japanese prime minister yasuhiro nakasone last week lawson said what is really needed in japan is an increase in merchandise imports
the balance of the second payment will be made six weeks after the end of crushing another demand of fijis 22000 small farmers was that an estimated 14 mln dlr loan from the fiji development bank fdb for the 1983 cane crop rehabilitation programme be written off
the proposal which expires july 1 values stifel at about 54 mln dlrs
guinness plc guinl will seek an injunction in the uk high court today to freeze the assets of former chairman ernest saunders in its attempts to recover 52 mln stg paid to a jersey company as part of the companys takeover battle for distillers co plc a spokesman said
girardin said the lira is expected to appreciate 14 pct against the dollar this year following last years 22 pct appreciation
us 87 winter wheat plantings 48195000 acres durum 3137000 other spring 13515000
the fundamental policy objectives of the united states can best be implemented in a more flexible framework such as through the recent meeting in paris of finance ministers and central bank governors volcker said
this imf loan would be triggered if the price of oil falls below nine dlrs a barrel for three months
proceeds will be used to increase working capital complete renovations at leased facilities and repay certain debts to southmark
each 1000 ecu bond carries one gold warrant exercisable from may 6 1987 until may 6 1990 entitling the holder to purchase one ounce at an exercise price of 490 dlrs
hartmarx corp hmx 2nd qtr may 31 net
the proposed system would not alter the ec nations requirements as far as imports are concerned since the overall effect would stabilise community production levels without affecting demand he said
healthy consumer credit growth record fee based income highly profitable securities and foreign exchange trading and a solid capital position combined with the restraint of non interest expenses should lead to improved results in the periods ahead chairman allan taylor said in a statement
roasters are said to be well covered and are not expected to enter the market for larger purchases in the near term
senator says energy report assumptions flawed
hongkong bank says close to deal on property sale
monetary authorities said to lose credibility
a group led by new york investor michael steinhardt told the securities and exchange commission it bought a 66 pct stake in holiday corp common stock as an investment
the aim of the merger is to seek recognised investment exchange status as required by the 1986 financial services act
standard oil raises alaska north slope by 150 dlrs effective april one
the bank of england said it provided the money market with a further 168 mln stg of assistance to help offset a shortage it now estimated at 105 billion stg revised down from 110 billion
gateway gmsio recinds offer for westworld
the staffer said that under the measures passed by the committee the secretary of defense would have more influence over decisions to keep or sell strategic stockpile materials
the restructuring must be approved by creditors common and preferred holdersand present and former employees
the company will continually review its position and may nelect to increase or decrease the number of shares owned it added
eschborn west germany based linotype had 1986 sales of more than 200 mln dlrs the company said
distributed logic corp dlog 1st qtr loss
renouf managing director mike cashin said in a statement it had been renoufs intention to build up a long term strategic position in nzi
otsuki said economic growth is unlikely to pick up beyond levels experienced in 1986
sosnoff bid 28 dlrs per share or 7252 mln dlrs for the 864 pct of caesars world stock he does not already own standard and poors noted
first world cheese inc fwch 4th qtr loss
rowntree mackintosh plc rwntl year to end january
space has recently been cleared for them at the cbt by moving its major market index pit into the area once reserved for lightly traded cbt gold and silver futures which now share their trading area
the company said it was able to declare the dividend due to progress in the cleanup of three mile island unit two
the commission said it would ask geneva based gatt to rule on whether the section in question which officials said had proved a barrier to many ec exporters conformed to its rules
metropolitan federal mftn to make acquisition
thirty years ago in 1956 the situation was different
it would take 20 days from the day we mail said the source
the company said holders of triangle microwave options and warrants will be entitled to receive the difference between 650 dlrs and their exercise price plus contingent payments
william verity as secretary of the commerce department
domestic crude oil production was estimated at 838 mln bpd down 87 pct from 918 mln a year ago and gross daily crude imports excluding those for the spr averaged 411 mln bpd up 369 pct from three mln the eia said
trading in alusuisse shares was suspended on the zurich stock exchange after todays announcement by the company that it would cut its share capital by 50 pct the bourse said
rlc corp rlc 2nd qtr march 31 net
du plessis said 34 banks holding more than 70 pct of the frozen debt agreed to the new arrangement worked out with south african negotiators in london
the diplomats said it was unlikely that the issue would be discussed in detail at the next meeting of ec foreign ministers on april 27 and 28 in luxembourg as time was needed to prepare proposals for possible retaliatory action
feed compounds balancers and concentrates produced in britain in the five weeks ended january 31 totalled 973400 tonnes against 966200 tonnes produced in the same 1986 period ministry of agriculture figures show
christiania bank issues euroyen bond
the decision followed yesterdays ruling by an amsterdam court preventing the sectors employers continuing with current plans for 350 redundancies this year until the court sits again on may 7 rosenmuller told a meeting of the general cargo sectors 4000 workers today
kobeya baking co ltd is planning a private placement of 10 mln swiss franc notes paying 4 5 8 pct and priced at 100 1 8 pct lead manager the long term credit bank of japan schweiz ag said
shr loss four cts vs loss one ct net loss 413021 vs loss 163932 revs 600971 vs 665800
since making the big mistake in 1981 of cutting taxes enormously without any plan to decrease spending by the administration or congress indeed with increases in defence spending now all the options for reducing the budget deficit are unpleasant he said
union texas petroleum said its worldwide proved reserves fell to 511 mln barrels of oil equivalent at the end of 1986 from 555 mln barrels reported in 1985
american brands sees record first quarter results
it is our last hope and best opportunity this century
the coupon will then be re fixed annually at the one year australian treasury rate
the bank of england said it forecast a shortage of around 450 mln stg in the money market today
australia faces a major medium term adjustment to reduce debt and improve its economic performance the organisation for economic cooperation and development said in its latest annual review of the australian economy
balletto told a conference of canadian farmers at alberta agricultures annual farm outlook conference that the world vegetable oil situation is one of potentially tight supplies
venezuela will limit new loans to 50 pct of the interest and principal it repays on its 31 billion dlr foreign debt president jaime lusinchi told political leaders
mr ryzhkov handed me a list of import and export opportunities which i hope you will all jump at she told the meeting to mark the opening of new offices of the british soviet chamber of commerce
the state department a major player in setting us coffee policy may then face conflicting pressures particularly from politically sensitive us allies in central america us officials said
the generally strong outlook bodes well for significantly improved earnings this year burnell roberts chairman and chief executive officer said
austec ails complete purchase of private firm
the perception of japan in the us congress is very bad one official told 
esselte business systems inc esb ups payout
an ico spokesman said the session for the first time under the chairmanship of bruno caron of france will review the market situation and the operation of quotas
he repeated the central bank will intervene if necessary adding he did not think a dollar free fall was likely
the company said there had been 35 mln dlrs total principal amount of debentures outstanding
nearly 80 pct of canadas exports are shipped to the us each year
dai ichi kangyo bank ltd was the other lead manager and nine japanese banks joined the financing
in january last year the index stood at 106 and in december 1985 at 101
the company said president paul tregurtha has succeeded barker as chairman and chief executive officer of moore mccormack
the department said stocks of fresh apples in cold storage at the beginning of february were moderately larger than a year earlier but strong demand has kept apple prices firm
however technicians are not involved in the walkout at cbs and abc
1986 shares give effect to issuance of 15 mln shares in exchange for outstanding series 1 preferred shares
mitsui through its subsidiaries mitsui and co usa inc and mitsui steel development co inc and steel technologies each will own 50 pct of the new company the company said
unfavorable weather conditions during the second week of march caused damage to oranges in the calabria region in southern italy the us agriculture departments officer in rome said in a field report
conable made his remarks before a group of commercial bankers at a meeting sponsored by the export import bank and later informally to reporters
but mizrahi said that opec is unlikely to do anything more than reiterate its agreement to keep output at 158 mln bpd analysts said that the next two months will be critical for opecs ability to hold together prices and output
dutch port and transport union fnv agreed to an employers request to reconvene abandoned peace talks tonight to try to end strikes that have disrupted rotterdams general cargo sector for the past six weeks a union spokesman said
some 80000 hectares of agricultural land and gardens had been inundated damaging tea plantations and orange groves the newspaper said
oper shr two cts vs 10 cts oper net 162300 vs 773400 revs 166 mln vs 165 mln avg shrs 8282480 vs 8045493 note excludes gains of 138000 dlrs or two cts shr vs 733000 dlrs or nine cts from benefit of tax loss carryforwards
in its monthly ussr grain situation and outlook usda said the increase reflected the return of the soviet union to the us corn market and continued purchases of both wheat and coarse grain from other major suppliers
shr 121 dlrs vs 180 dlrs net 169 mln vs 246 mln revs 2309 mln vs 2896 mln 12 mths shr 197 dlrs vs 237 dlrs net 276 mln vs 324 mln revs 6486 mln vs 8757 mln note company reports earnings qtrly and includes the previous 12 mths figures
in a filing with the securities and exchange commission gary associates said it made net purchases of 70900 gull common shares at 15 dlrs to 1862 dlrs a share
general partners said the offer is conditioned on receipt of sufficient financing to buy all shares on a fully diluted basis and receipt of enough shares to give general partners at least 51 pct voting power again fully diluted
he said baker had indicated receptivity to latin americas position during talks yesterday with the so called a countries brazil argentina and mexico who stand to suffer a net deficit of iadb funding unless the bank votes a substantial capital increase
however given the significant current interest in the company we also feel that we should carefully review all the options available
gotaas larsen shipping corp gotlfo 3rd qtr
in 1985 the invisibles surplus was 51 billion stg
the right is exchangeable into warrants upon transfer to a security pacific non affiliate schwab said
deloitte haskins sells gets stake in company
the policy of the world bank was to maintain liquidity at a level that gave the bank flexibility to decide when where and how much to borrow rotberg said
the transaction is expected to close at the end of april
franz josef feiter agricultural adviser to west german chancellor helmut kohl agreed the european community must take greater heed of market constraints in fixing farm prices
analysts expect gasoline stocks to rise 500000 to two mln barrels above the 234 mln reported for may 22
following sale of becors aerospace subsidiary in february the management group led by president william winter announced plans for a 2381 mln dlr leveraged buyout
zambia stops sending copper through south africa
total demand at todays auction was 287 billion francs including 51 billion for the 850 pct 2002 tranche 1395 billion for the 850 pct 1997 tranche and 965 billion for the 1999 floating rate tranche
harland co jh 1st qtr net
nestle to acquire nabisco canada businesses
it said the remaining nine pct will be held by milex shareholder norman monson who will become chief executive officer of the combined companies
petro canada crude up 32 cts canadian bbl
us treasurys baker says rate shifts orderly
utilicorp recommends three for two split dividend increase and additional class of stock
harcourt said it does not plan to increase its bid
roland international corp a coconut grove fla real estate development company said it cut its stake in intermagnetics general corp to 308400 shares or 48 pct of the total outstanding from 358400 shares or 56 pct
taking advantage of scarcity private roasters were selling ground coffee mixtures which were 75 pct non coffee it said
us officials want the banks not only to consider swapping their debts for equity in local corporations a development that has already met with success in chile and mexico but to pin loans on specific projects finance trade and invest directly in debtor country private sectors
houston metals said it has a 60 pct interest in the silver queen mines
a study group said the united states should increase its strategic petroleum reserve to one mln barrels as one way to deal with the present and future impact of low oil prices on the domestic oil industry
oper shr 14 cts vs 10 cts oper net 711000 vs 517000 sales 112 mln vs 111 mln note 1986 net excludes 84000 dlr gain from discontinued machinery division
year 1986 shr 642p vs 14p div 16p making 235p vs 175p pretax profit 1804 mln stg vs 377 mln net after tax 1371 mln vs 349 mln minorities 105 mln vs 72 mln general premium income 199 billion stg vs 178 billion long term premium income 7045 mln vs 5766 mln general insurance underwritng loss 783 mln vs 1834 mln long term insurance profits 273 mln vs 209 mln investment and other income 2314 mln vs 2002 mln
biosearch medical products inc bpmi 4th qtr
the sale by gallaher reflects a decision to dispose of more peripheral businesses
parent bank total participations rose to 645 billion marks in 1986 from a comparable 457 billion in 1985 including a rise to 379 billion from 234 billion in bank participations
cms energy corp cms 3rd qtr net
the exporters had delayed in expectation of a further yen depreciation dealers said
gencorp said its rko general subsidiary agreed to sell khj tv in los angeles to walt disney co dis for 217 mln dlrs cash plus working capital and other adjustments at closing
a rio port spokesman said the halt would cause daily losses of about 100000 us dlrs
rio tinto zinc corp plc 1986 pretax profit 6017 mln stg vs 6144 mln
mdi mobile data international inc year net
citicorp cci seeks cyclops cyl steel unit
each of the five locals have separate contracts all of which expired april 30 but the main issues are similar
other details were not disclosed
the offer values each share at 100 pesos the price at which the philippine social security system suggested it might buy eight mln class a shares last week
other possible strikes looming include stoppages by oil industry workers and social security workers
in addition 583225 dlrs of aid will be made available to malawi to feed 96700 people displaced from mozambique and a further 340200 dlrs for cyclone victims in vanuatu in the south pacific
outstanding loans to venezuela currently total about 13 billion dlrs of which 241 mln dlrs of loans have been reported as either nonaccrual or past due 90 days or more it said
earlier the bank had estimated the shortage in the system today at 950 mln stg
irna said that under the agreement iran will also provide technical and scientific assistance in manpower training and oil exploitation production and refining
state department spokesman charles redman told reporters we have urged both sides to exercise restraint and avoid any actions which might exacerbate the situation in the light of the most recent developments we are consulting with the parties and with other interested allies on means to reduce tensions he added
shr 162 dlrs vs 133 dlrs net 103 mln vs 8459000 revs 1275 mln vs 957 mln year shr 152 dlrs vs 120 dlrs net 9669000 vs 7481000 revs 2781 mln vs 23200 mln
royal bank said it set its provisions given the continued debt servicing problems in the north american energy industry and the uncertain outlook for energy prices and also continued to add to its general provisions for loans to troubled borrower countries
pace membership warehouse inc said it made a series of recent purchases of its 13 pct subordinated notes totaling about 136 mln dlrs
the bank of finland called a news conference at 1200 gmt to announce new measures for the development of the system of monetary control a spokesman for the bank declined to give further details
san miguel deal hit by more lawsuits
they said member states are split on whether to reduce the scope of a quota production system which at present protects ec steelmakers from the full force of competition for 65 pct of their products while talks on the closure plan proceed
armor all products corp armro 2nd qtr sept 30
underwriters were not named in the draft prospectus
south africas new foreign debt agreement sparked a rally in local financial markets but bankers and economists said the pact only removes one source of anxiety from a still depressed economy
i am confident that we can sterilise on this scale
the bank also cut its seven day repossession rate to 8 1 2 pct from 8 3 4 pct
they said the funaro and stoltenberg discussed third world debt in general and brazils debt position in particular but declined to give further details
last week rumors circulated on wall street that the financial services giant was considering a spinoff of part of shearson and there was speculation it may be considering selling a stake to a japanese firm
initially the us wanted 65 pct of votes to proceed with a loan a position that would have given the us a virtual veto since it holds almost 35 pct of the votes
the company had sales last year of 256000 dlrs
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
harcourt made clear in its offer that it will step aside if harpers directors and shareholders reject the bid harper said
the brokerage firm earlier reported six month profit rose to 35 mln dlrs from 19 mln dlrs last year
toronto sun publishing corp said it planned a two for one split of its common shares subject to regulatory approval and approval by shareholders at the april 21 annual meeting
german wage round said to limit monetary options
earlier the bank had estimated the shortage in the system today at around 115 billion stg
perus total foreign debt on december 31 1986 was 1446 billion dollars the central bank said
however a senior commerce ministry official said the thai government supports coffee producers lobbying for reimposed ico quotas which he said would help lift world prices
they are supported by west germany and the netherlands and to a lesser extent spain
the brazil financing for example involved the use of a floating rate note
the redstone equity contribution to the takeover would consist of all of his groups 6881800 viacom common shares and at least 118 mln dlrs cash he said
bicc shares were last quoted at 357p up from 344p at yesterdays close in buoyant response to results which were ahead of market expectations dealers said
in addition sluggish us economic data and little sign that the economy will pick up its pace in the near future may be enough to send bond futures to all time highs the analysts said
four us banks are expected to receive finance ministry approval in late april to operate securities subsidiaries in japan as long as they hold no more than 50 pct of the capital bankers said
shr 18 cts vs 19 cts net 400413 vs 421451 revs 9343228 vs 8213449 nine mths shr 39 cts vs 46 cts net 853891 vs 1011999 revs 246 mln vs 223 mln
fruehauf said its board rescheduled the annual meeting to june 18 from may 7 to allow for completion and distribution of the 1986 results to shareholders
the dollar has eased this week but remains stable at around 15150 yen
nippon is expected to report parent company results in late may
hodel urged congress to approve oil exploration in section 1002 of the arctic national wildlife refuge in alaska
the commission had said there was insufficient economic integration between the pork production industry and the pork packing industry to justify extending the duty on live hogs to fresh chilled or frozen pork
west german chancellor helmut kohl said last week increased borrowing to finance the tax reform is acceptable
pct senior subordinated note due 1997 together with warrants to buy 11 mln shares of common stock
ual ual may respond to pilots today
beef producers are becoming more confident that higher returns in the market both domestically and overseas will continue the amlc said
an investor group that includes t
santos said tmoc holds several important domestic oil and gas production exploration and pipeline interests
treasury balances at fed rose on april 6
thailand has a rainy season that normally starts in may and lasts to october
national computer said it plans to issue 45 mln dlrs in five year subordinated convertible debentures to purchase the 3749401 shares of data card from deluxe
the corn is for delivery during the 1986 87 marketing year and under the fourth year of the us ussr long term grain supply agreement the usda said
moodys said it calculated end of month index values back to december 1979
kaske told the annual shareholders meeting turnover rose to 212 billion marks in the first five months of 1986 87 about 19 pct above the same year ago period
the company said the significant financial improvements from applying the net proceeds of the offering principally to the reduction of debt along with its 1986 restructuring of oil and gas operations and the acquisition of midcon corp have positioned occidental to benefit from an improving oil and gas industry environment
borg warner also agreed to redeem all outstanding series a preferred shares and to pay off on all options at a 4850 dlr a share exercise price before the merger is effective it said
unilever plc and nv unas has issued a prospectus through investment bankers goldman sachs and co seeking a buyer for stauffer chemical co of the us which it acquired with the recent takeover of chesebrough ponds inc a unilever spokesman said
qtr ended march 31 shr 88 cts net 973000 vs 713000 six mths shr 135 dlrs net 1497000 vs 1464000 note bank went public on dec 29 1986
in the last ten years israeli exports to the us rose fivefold from 417 mln dlrs to 23 billion in 1986 while imports rose from 888 mln dlrs to 18 billion last year
such reforms would include among other things more concern for natural resource management
london based sugar operator kaines ltd confirmed it sold two cargoes of white sugar to india out of an estimated overall sales total of four or five cargoes in which other brokers participated
it said the two companies had entered into exclusive negotiations last october
stocks should gain on strong foreign demand and a modest second half economic rise
managers underwriting 10 to 15 mln dlrs will receive three basis points
mobil said gains were in indonesia where a sixth production facility began operation in october with a capacity to manufacture 17 mln tonnes of liquified natural gas
gross proceeds of 708 mln dlrs will be added to the working capital cancapital corp
the offshore and onshore drilling company today reported a first quarter loss of 186 mln dlrs after a 122 mln dlr tax credit compared with a year earlier loss of 5855000 dlrs after a tax credit of 8510000 dlrs
great western financial corp said it agreed to sell its john alden life insurance co and its affiliated operations for 280 mln dlrs to a newly formed company onwed by the john alden management group
galaxy oil co said its common stock and nine pct convertible subordinated debentures due 1994 are being delisted from the american stock exchange because the company no longer meets listing criteria
bancroft bcv shareholders rebuke zico offer
arab banker says too soon for single currency
the issue is available in denominations of one mln yen and will be listed in luxembourg
but most experts agree that a major overhaul of price differentials is unlikely so as to avoid giving the market signals of a dent in opecs new unity
it said it also told triton it may depending on market conditions acquire 50 pct or more and possibly 100 pct of the voting securities of triton it said it received clearance to buy up to 50 pct of the stock on september 11
fisher shareholder indecisive over stock buy
shr seven cts vs 10 cts net 127000 vs 168100 revs 2807400 vs 3042900
it said a final proration factor should be announced and payment for shares start october 26
but the small independent oil companies who do much of the drilling in the us are looking for the more immediate relief which could be brought on by an oil import fee
but government officials said political infighting could rob both packages of much of their punch and might even prevent one from seeing the light of day
non opec production may still go up competing with opec for the expected additional increase in world demand subroto a member of opecs three man quota committee which has been touring cartel members said speculation may play havoc with spot prices but opec was trying to stabilize the situation by urging cooperation by non opec producers
personnel expenditure was up 119 pct last year at more than 15 billion marks
the february invisible trade surplus rose to 109 mln dlrs from 24 mln in january and compared with a deficit of 74 mln a year ago
northview corp said it reached an agreement in principal covering the acquisition of the company by privately held calmark financial corp
for the stock dividend ivey said it will pay for fractional shares at 25 dlrs per share
canadian wheat exports in 1986 87 are forecast at 1900 mln tonnes vs 1800 mln tonnes last month
bankers prefer to view the stance taken by the british banks and other national groups as a matter of principal and burden sharing rather than as a pressure tactic to force the us banks to make up their share
the 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
ifr systems inc ifrso 1st qtr sept 30 net
belgium current holder of the european community presidency appears ready to drop a controversial oils and fats tax from this years hotly contested farm price package diplomats said
another said the bank still has buying orders in the market
imatron is capitalised at 3276 mln dlrs the spokesman said
shr 30 cts vs 24 cts net 147 mln vs 113 mln sales 7389 mln vs 6051 mln avg shrs 490 mln vs 479 mln nine mths shr 111 dlrs vs 93 ctsd net 542 mln vs 429 mln sales 245 billion vs 195 billion avg shrs 489 mln vs 464 mln note twelve and 40 week periods
final closing is expected in the third fiscal quarter ending june 30
it said as sorgs largest single shareholder it will evaluate all its options including making a further offer to sorg or disposing of some or all of its sorg shares
sigma mines quebec ltd 65 pct owned by dome mines ltd said its sigma mine had proven and probable reserves at the end of 1986 of 4902940 tons with an average grade of 0139 ounces of gold a ton
shr 36 cts vs 37 cts net 2751000 vs 2179000 qtly div 40 cts vs 40 cts prior avg shrs 7699241 vs 5943341 note dividend payable april 10 to shareholders of record march 30
oper shr loss 30 cts vs loss 127 dlrs oper net loss 8648000 vs loss 256 mln revs 274 mln vs 333 mln avg shrs 291 mln vs 201 mln note oper excludes loss on provision for discontinued operations of 971000 vs 122 mln and loss from conversion of debt 587000 vs gain of 1734000
the trustees had indicated that it intended to sell enough of the convertibles nil paid to enable it to take up the remainder
in the year to march 21 it reported a rise in pretax profit to 2469 mln stg from 1927 mln on sales that increased to 404 billion from 358 billion
oper shr 12 cts vs nine cts oper net 4027852 vs 3200837 revs 1002 mln vs 460 mln note oper net excludes tax credits of 517916 vs 198000 current year results include proceeds from termination of a pension plan
renison goldfields consolidated ltd rgfjs rgc and explorer city resources ltd have agreed in principle on a joint venture to re examine the bulolo alluvial gold field in papua new guinea city resources said
oper shr 122 dlrs vs 88 cts oper net 135 mln vs 117 mln revs 1391 mln vs 1605 mln nine mths oper shr 200 dlrs vs 115 dlrs oper net 228 mln vs 154 mln revs 3488 mln vs 3859 mln note 1987 3rd qtr and nine mths oper net excludes gains from tax loss carryforwards of 3067000 dlrs and 8548000 dlrs respectively
escom said it plans to meet the bulk of its funding requirements this year by raising 22 billion rand in the south african financial markets against a total of 175 billion rand raised last year
the shares are also convertible until the redemption date into common stock at the rate of 35 common shares for each preferred share
the total number of registered unemployed in the first quarter of this year was 437500
many bond traders in tokyo are doubtful that sterling will further appreciate steeply
nppc appeal on canadian pork dismissed
nynex corp said it is raising its quarterly dividend to 95 cts from 87 cts payable may 1 1987 to shareholders of record march 31
ual jumped five to 70 3 4 on volume of more than 32 mln shares
chrysler c renault delay am motors amo pact
trillium telephone tlmto 2nd qtr net
increased funds were also allocated for provisions
combustion csp completes accuray acra buy
the company said it has also agreed to let purolator pay all of pc acquisitions documented expenses in connection with the merger agreement up to three mln dlrs and emery has agreed to pay the amounts itself should purolator fail to do so
it took the bond market a long while to see that inflation was not returning to double digits and now that it has learned that lesson it may be a little slow to see that a four to five pct inflation is a real possibility ahead boltz said in a report
wendys declined comment on takeover rumors of all kinds
the form of the transaction has not yet been determined it said
s p said the acquisition enhances lorals competitive position in the defense electronics industry by broadening its technology and program base
suggesting that the total cost of completing the merger would be 190 mln dlrs cross said he would use 20 mln dlrs of his own money for the deal and up to 170 mln dlrs which would be borrowed from the first national bank of boston under a revolving credit facility the bank has agreed to provide
the spokesman told that brazils suggestion will be communicated by telex to brazils 700 bank creditors
the company said the boards approval included the dismissal of a protest by the baltimore based maryland alliance for responsible investing against ncnbs performance under the community reinvestment act
ceradyne inc crdn 4th qtr loss
the central bank said cumulative assets at end february fell to 2002 billion ringgit from 2068 billion at end january but were up from 1707 billion at end february last year
bankers contacted by said they did not envisage that the new requirement would present them with problems or push up fees
it hoped to launch the facility soon afterwards he said
the commonwealth of australia is offering in the yankee bond market 400 mln dlrs of bonds in two tranches said lead manager morgan stanley and co inc
other terms of the accord call for chrysler to give renault a 200 mln dlr eight pct note due in 10 years and 35 mln dlrs in cash for its american motors interest
carteret savings cbc completes sale of branches
corn eight pct planted vs 64 pct a year ago and 51 pct average
savoy industries inc savo year
no bundesbank policy changes expected thursday
boral to raise 100 mln dlrs by notes issue
canadas leading composite indicator advanced 04 pct in december after gaining 04 pct in the two previous months statistics canada said
cardinal industries said revenues for the year were 307 mln dlrs up from 230 mln dlrs in 1985
oper shr loss 128 dlrs vs loss 59 cts oper net loss 460 mln vs loss 211 mln revs 639 mln vs 778 mln 12 mths oper shr loss 165 dlrs vs loss 209 dlrs oper net loss 593 mln vs 750 mln revs 2982 mln vs 3213 mln note for the qtr and yr 1986 loss reflects pretax loss of 450 mln and 555 mln which included a writedown of inventory and restructuring charges amounting to 371 mln and 379 mln and a tax gain of 940000 and 3094000
there is no special worry about the stock market in tokyo he added
it said the proceedings would be used to discharge or refund outstanding obligations
industry demand for farm machinery continued to erode during the latest fiscal year with worldwide industry retail sales of tractors sliding more than 10 pct below last years depressed levels the company said
the sources said the world bank is expected to approve the loan by august after a review of the governments non financial institutions
sumitomo bank has 500 mln stg cd program
animed vets expects to turn profitable
it becomes the fourth us bank to raise the rate following citibank chase manhattan and manufacturers hanover trust
no one would benefit if after years of over valuation the us dollar fell into the other extreme that is strong under valuation he said
sama offers a total 19 billion riyals in 30 91 and 180 day agreements to banks in the kingdom each week
as a result oil industry sources suggest that the situation may ease by mid april
most of it will be through import reduction but at least one third will be due to a rise in product exports as the prices of us goods become more attractive overseas
oper shr 78 cts vs 51 cts oper net 7030000 vs 4944000 revs 1266 mln vs 1209 mln year oper shr 159 dlrs vs 89 cts oper net 147 mln vs 9864000 revs 4251 mln vs 4169 mln note net excludes realized gains on investment of 73000 dlrs vs 4224000 dlrs in quarter and 6253000 vs 145 mln dlrs in year
swedish industrial production rose 26 pct in february after a 18 pct fall in january showing a 44 pct rise over february 1986 and reaching its highest level ever the central bureau of statistics said
paychex inc payx 3rd qtr feb 28 net
the experts prediction for economic growth this year of between 1 1 2 and two pct is a slight downward revision from a forecast made last november when two pct growth was forecast
shr 133 dlrs vs 90 cts net 120 mln vs 8180000 nine mths shr 363 dlrs vs 288 dlrs net 329 mln vs 262 mln
presidency minister patricio quevedo said in a televised address that the budget would be cut by five to 10 pct government hiring would be frozen and salaries of top officials including the president and cabinet would be reduced
further moves included introduction of mark denominated certificates of deposit last year
taro vit industries ltd tarof year loss
us factory usage of lard in the production of both edible and inedible products during february totaled 220 mln lbs vs a revised 202 mln lbs in january according to census bureau figures
taft and narragansett capital inc narr offered to acquire taft for 145 dlrs per share
corona icrto favors royex rgmto offer
laurentian group sees higher share net
the sources noted however that the cocoa industry in brazil the worlds number two producer is in private hands
results for the qtr and the six mths in current year include loral systems group formerly goodyear aerospace acquired in march 1987
the paris agreement between the major industrialized countries provided only for a pause in its decline he said
dart group declines comment on dayton hudson dh 
brad ragan inc brd sets quarterly
weve been fiddling around with these problems for five years and the hour is growing late he said up to now the banks have reduced their spreads cut interest rates internally and extended maturities and none of these measures has been enough
total arrears were 542 billion dollars
the office and technical workers last negotiated may 21
in tokyo one oil analyst said theres no reason to expect a weak market from now on a japanese oil trader also based in tokyo said we thought opec would have difficulty agreeing on fourth quarter production so the market will react very bullishly traders in singapore said that while there has been only a slight increase so far in spot quotes for dubai a benchmark crude they expect price increases over the next few days
in the corn belt states of illinois and indiana 217000 acres and 116000 acres respectively were enrolled
that program now has a target of 563 mln shares with the latest stock split
it was the scale of speculative transactions that determined market trends
i dont think theres much room for compromise he said
domestic turnover fell 26 pct to 283 mln marks from 380 mln
australian trade unions said they have launched week long strikes and other industrial action in new south wales nsw to protest against new laws that would reduce injury compensation payments
it simply demonstrated the united states will take military action when they iran take military action norman polmar a defense analyst and author said
petrobras has been saudi arabias traditional client since 1955
the company which produces lawn mowers and bicycles said earnings are ahead of last year due to increased lawn and garden shipments in january and february and a record setting pace in march
but he added the consequences would not only mean slower economic growth in the coming years but also further exhaustion of the economy and lasting damage to the economys capacity for development he said
some us officials complained japan has no intention of boosting domestic demand and imports as washington wants
initially it centred on bunzl plc which once held a 26 pct stake then switched to williams when it began accumulating shares
the issue is guaranteed as to interest and the put premium by lucas industries plc
the company said it has agreed as well to make compliance and public safety capital expenditures of about 600000 dlrs
shr loss 58 cts vs loss nil net loss 29 mln vs loss 17818 revs 50 mln vs 74 mln year shr loss 45 cts vs profit four cts net loss 20 mln vs profit 174562 revs 285 mln vs 252 mln note1986 4th qtr loss includes loss of 22 mln dlrs from discontinuance of operations
zaire under the government of president mobutu sese seko has recently been taking many reform measures designed to heal its ailing economy
the trust last paid a stock distribution of general development corp gdb shares in july
first bank systems fbs units hike rate
combining the latest data with a 06 pct drop in november and a 46 pct gain in december the average retail sales gain over the four months was 02 pct he said compared to to a 04 pct rise for year over year sales through february
the operation was to further its aim of obtaining a listing on foreign stock exchanges with a view to future capital increases through ordinary share issues they said
credit business declined in the first few weeks of the year and the interest margin was squeezed further
profit from its second largest geographical area north america slipped to 347 mln stg from 372 mln
mannesmann buys indirect majority stake in sachs
months traded would correspond with the chicago corn futures months of march may july september and december
spanish unemployment rises in february
the market was assigned all of the 3500 billion lire of three month bills on offer after requesting a total of 4695 billion
however realistic exchange rates were needed if the debtor countries were to compete in the world market mittendorf said
in fiscal 1986 allegheny reported earnings from continuing operations of 82 mln dlrs or 109 dlrs a fully diluted share excluding income of 597 mln dlrs from discontinued operations and an extraordinary loss of 81 mln dlrs
new bedford institution for savings nbbs year
the department said the customs service has reported that weekly and cumulative imports are reported on an actual weight basis and when final polarizations are received cumulative import data are adjusted accordingly
unions said ghent and other major belgian ports were also hit
recent estimates put these costs at 40 billion european currency units and by 1990 they would rise by another 20 billion ecus he said
some one billion marks will be issued for immediate sale and the remaining 200 mln marks will be set aside for market regulation
shr 46 cts vs 33 cts net 2731000 vs 1928000 sales 662 mln vs 588 mln nine mths shr seven cts vs 61 cts net 6310000 vs 3579000 sales 1718 mln vs 1419 mln
the stated maturity date of the issue is may 1 2017 but the deal has an expected life of 36 years which will vary with the rate at which homebuyers prepay their mortgages the pool itself consists of federal national mortgage association fannie mae securities paying 1050 pct
the two state owned groups account for 30 pct of rubber land with the balance belonging to small private producers with a total of 145600 hectares
the armacost discussions with deputy foreign minister ryohei murata and other senior japanese officials will focus on us japanese foreign aid programs and political security issues of mutual concern she added
land securities issues 100 mln stg eurobond
a subsidiary of the china commercial and industrial bank is arranger for the issue
dealers said the dollar will remain weak despite the intervention and it is only a matter of time before some operators try to push it below 148 yen
british chancellor of the exchequer nigel lawson said he saw no immediate implications for british monetary policy arising from the group of seven meeting yesterday
analysts said that m 1 last month grew at a negative 13 pct annual rate compared with minus 07 pct for m 2 and actual positive growth of 10 pct annualized for m 3
japan corporate profits in last 1986 quarter up
enro acquisition also assumed most of the units liabilities including a 62 mln dlrs term loan
but some things are clear and they apply on both sides of the atlantic
zero corp zro 2nd quarter net
f and m distributors operates 42 discount drug stores in michigan ohio illinois indiana and wisconsin
the offering will be underwritten by morgan stanley and co inc
uk data depress rate cut outlook analysts
he has already announced his intention of cutting the deficit to 100 billion francs in 1989
the ec commission met in brussels on friday to see whether the 12 ec cocoa consuming nations could narrow their differences at this months meeting
the breakthrough in the venezuelan talks which have been going on intermittently for several months follows the announcement earlier today of a 106 billion dlr debt rescheduling pact between chile and its bank advisory panel
hanson trust plc hnsnl said its us subsidiary hanson industries inc is to sell pcr inc a speciality chemicals unit for 625 mln dlrs cash to chemical partners inc pcr had sales of 132 mln dlrs in fiscal 1986 and an operating loss of 381000 dlrs
talks due today between management and unions to try to end the strike at cargill uk ltds seaforth oilseed crushing plant have been rescheduled for thursday a company spokesman said
us roastings of green coffee in the week ended april 4 were about 275000 60 kilo bags including that used for soluble production compared with 215000 bags in the corresponding week of last year and about 320000 bags in the week ended march 28 george gordon paton and co inc reported
us scientists say tropical oils health risk
banks which declined the offer would be repaid over 20 to 30 years at interest rates below those fixed in the international markets he added
wainco oil corp said it has completed a wildcat well on its grandmarais prspect in jefferson davis parish la which is currently producing at a rate of 11 mln cubic feet of gas and 40 barrels of condensate daily
he also said research and development spending in this business segment will be increased to 14 pct of total sales income in 1987 from 13 pct or 130 mln sterling in 1986
olson said it expects to receive about nine mln dlrs from a combination of a sale of tangible assets to sunny fresh and realization of intangible and other assets by olson
firemans fund corp ffc 3rd qtr net
the company said the agreement is subject to canadian government approval
the reserve for loan losses was 781 mln dlrs or two pct of outstanding loans higher than the 56 mln dlrs of 165 pct of loans outstanding at march 31 1986
parent company net profit 385 mln francs vs 2269 mln dividend five francs vs no comparison note the financial and banking group was privatised by the government in january this year
the diplomatic sources said the citrus issue could be reopened if the pasta dispute was not solved quickly
shr 18 cts vs 24 cts net 1175000 vs 1528000 sales 34 mln vs 346 mln nine mths shr 56 cts vs 112 dlrs net 3578000 vs 7040000 sales 1093 mln vs 1166 mln note 1986 figures include 508000 dlr gain or eight cts a share from discontinued operations
asked by to clarify his statement on monday in which he said the pact should be allowed to lapse subroto said indonesia was ready to back extension of the ita
lucky stores inc lks reinstates quarterly div
overseas osg sees opec quotas key to rates
shr seven cts vs six cts net 1612000 vs 1406000 revs 382 mln vs 343 mln avg shrs 23742000 vs 22945000
other us banks have also warned of earnings setbacks
at the same time yeutter said washington was temporarily suspending a complaint with the general agreement on tariffs and trade gatt that japan was unfairly curbing imports of the two fish
nec has been the most aggressive in resisting mitis demands said david keller analyst at james capel and co
greece says it has right on aegean oil drilling
if there are riches under the sea they are for mankind despite the end of the crisis turkish officials acknowledged that the underlying dispute over delimiting the continental shelf in the aegean remained unsolved
shr 43 cts vs 25 cts net 76 mln vs 44 mln revs 720 mln vs 669 mln year shr 84 cts vs 72 cts net 148 mln vs 127 mln revs 2231 mln vs 2152 mln note 1986 4th qtr inludes gain of 26 mln dlrs on sale of real estate
if we go on using up farmland as we have done since 1980 there will be none left in 20 years to grow grain on xu jinfeng a middle aged official in fengbang village on the edge of shanghai sums up the dilemma china faces as it tries to feed its more than one billion people and at the same time let them get richer by building factories and new homes
fed not expected to add reserves
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
its pacific southwest takeover which has received federal approval and is due to come up for shareholder approval later this month is for 17 dlrs a share or 400 mln dlrs total
the sources quoted poehl as saying that the current overshooting of the german monetary target would not directly respark inflation
gkn 1986 pretax profit 1324 mln stg vs 1327 mln
the world bank said it has approved a 140 mln dlr loan for india to help lessen that countrys dependence on imported oil and spur development of its own petroleum resources
all london daily prices rose two dlrs a tonne on tone
april registrations opened and closed on february 16 when a daily record 168 mln bags were declared
hernandez grisanti together with the oil ministers of nigeria and indonesia met the heads of state of six mideast gulf countries earlier this month to urge opec members to comply with assigned production quotas
rockwell reported net earnings in its first quarter ended december 31 of 1494 mln dlrs or 105 dlrs per share compared to 1258 mln dlrs or 84 cts per share a year ago
overall analysts said first half sales are coming in according to expectations
the us said iranians used the platforms for military pruposes and had fired on an american helicopter from the rigs earlier this month
the new investment coin to be sold worldwide will fluctuate in price according to the international price of gold
note company has said profit will match 1985 level despite provisions of 480 mln marks connected with alleged currency fraud
banner industries inc said it completed the previously announced purchase of rexnord inc rex it said it owns 96 pct of rexnords outstanding following the purchase of all rexnords common validly tendered pursuant to its 2625 dlr per share cash tender offer ended february 27
discount window borrowings net free reserves the fed funds rate average and the pattern of reserve additions are all consistent with a modest tightening said dana johnson of first chicago corp
but the new rules suggest that some constraints may be placed on competition as regulators attempt to ensure that no bank takes on more risk than it can handle
producers of industrial materials operated at 789 pct of capacity the same as in january and december but down from the february 1986 rate of 796 pct
central americans were sought for spot and afloat
trade figures show that the new currency alignments are already changing the japan us trade axis into a japan european community ec axis to the discomfort of europe
us lawmakers are gearing up for a showdown between protectionists and free traders as a major trade bill winds its way through committees to a vote by the full house of representatives in late april
subsequent auctions to be held in the 1987 88 financial year would first be of up to one billion stg of long dated stock having a maturity of 15 years or longer and then of up to one billion stg of medium dated stock of seven to 15 years in maturity
finance minister roger douglas predicted a budget surplus for the year ending march 1988 of 379 mln new zealand dlrs against a 195 billion deficit last year
the reserve bank said it would offer 400 mln dlrs of 13 week treasury notes and 100 mln of 26 week notes for tender next week the bank said it would not take up any stock at next weeks auction
american tax dollars are being used to subsidize foreign agriculture and mineral production that is often in direct competition with our producers sen
officials said the surplus was expected to widen further in 1987 but seoul would try to hold it below eight billion dlrs
bundesbank central bank council member lothar mueller said the bundesbank had not given up its focus on money supply
this would certainly be the case if the ibc was considering obliging exporters to pay the contribution quota within two or three days of registering a sale
after last years 28 pct rise in real incomes private consumption was likely to rise 225 pct in 1987 after 19 pct in 1986 despite a present trend towards higher savings
he denied that opec was exceeding its agreed production ceiling
irelands industrial production index stood at 1328 in december a year on year rise of 62 pct the central statistics bureau reported
there also will be an uncommitted tender panel for the issue of sterling and multi currency advances and sterling acceptances
but at the end of the day the attitude is going to be leave well alone and little or nothing is likely to be altered iran libya and saudi arabia are among those who also saw sales problems earlier this year traders say
souffle at 8049 dlrs per tonne fob for august shipment
certain difficulties have arisen this year in the machine building industry
it said it wanted this authorisation in view of future certificate issues
video said the shares are to be purchased by louis wolfson iii senior vice president of venture w inc national brands inc j
the iea estimated total non communist world oil supply in february at 450 mln bpd down from 454 mln in january and 470 mln in the fourth quarter
the company said it planned to concentrate its resources on the manufacture and sale of cigarettes
citibanks surprise base rate increase quickly followed by chase sent us bond prices lower and the dollar higher
drilling of this years british sugar beet crop got off to a slow start due to poor weather conditions with only around one pct sown so far a spokesman for british sugar plc said
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
finance minister kiichi miyazawa said he regards a us dollar below 150 yen as counter to the agreement struck by major nations in paris last month
net proceeds will be used to reduce debt at the companys main subsidiary new jersey natural gas co
the baltic international freight futures exchange biffex said it agreed to pursue negotiations with other futures markets on the baltic exchange with a view to merging into a new futures exchange
the association grouping private shipowners syndarma has also offered 120 pct but talks have so far been deadlocked over payment for overtime
their light sour grade is posted at 1988 canadian dlrs bbl
stad rotterdam takes stake in swiss owned insurer
petrol supplies would also be limited
qtly div 17 1 2 cts vs 17 1 2 cts prior pay april 20 record april 2
proceeds will be used for general corporate purposes which could include refinancing outstanding debt business acquisitions or investments
canada is the united states largest trading partner with two way trade more than 113 billion dlrs in 1985 according to the coalition
the penalties would be retroactive to march 31
heinz said margin requirements for index futures now six pct should be the same as for common stock and equities
noble affiliates nbl finds natural gas
ec representatives met in closed session in brussels on friday in an attempt to reach a common ground and a diplomatic source said narrowed the range of positions among the 12 nations
fed not expected to act in money markets
clabir clg ambrit abi call off merger
ibm said rolm will retain responsibility for the worldwide manufacture and development of rolm products
that compares with 146 gallons per box previously and 138 gallons per box from the 1985 86 crop
european coffee traders and roasters may propose a new formula for calculating international coffee organization ico coffee quotas at the end of their meeting here this week traders and officials told 
the companys proved developed and undeveloped reserves of crude oil rose slightly in 1986 unocal said
at this point we are lining up what we know we need to get the job done stevens said adding that the timing for repairs will depend on the damage to the pipeline which is difficult to assess because of flooding on the red river
coffee quota talks at the international coffee organization council meeting here continued this afternoon but producers and consumers still had not reached common ground on the key issue of how to estimate export quotas delegates said
coastal raises crude oil postings 50 cts bbl yesterday wti to 19 dlrs
group of 24 countries calls for debt relief
philadelphia electric co said it filed with the securities and exchange commission a shelf registration statement covering up to 250 mln dlrs of first and refunding mortgage bonds
johnson said initial progress has been made on a variety of fronts
terms were not disclosed
the company also said the other partner is lombardo communications inc a wholly owned corporation of phillip lombardo
a far better answer than protectionism would be structural change within the japanese economy the kind suggested by the maekawa report
terms were not disclosed
the bank of japan bought a modest amount of dollars at around 14510 yen just after the market here opened dealers said
oecd officials said the january data and a rise in oil prices above the 15 dlrs a barrel average assumed in the report indicated an upward revision in the inflation forecast to around 25 or three pct
japanese officials refused to allow a new issue of venezuelan bonds until the country regains its triple a credit rating
woodhead faulkner founded in 1972 publishes international banking finance and investment books
electricite de france edf will make its first offering of euro commercial paper in the international market on monday edf chief financial officer daniel lallier said in a telephone call from paris
honeywell said that if it had acquired the sperry unit at the beginning of 1986 its loss for the full year would have been 988 dlrs a share
the federal funds rate opened at 6 3 8 pct and remained at that level up from yesterdays 617 pct average
it said burger king usa and bennigans reported higher operating profit but profits fell sharply at steak and ale which introduced a new menu
given the economys fragility in many sectors the analysts agreed that there is almost no chance that the fed will choose to raise rather than lower interest rates when it next changes policy
galveston resources ltd said it agreed in principle for an option to earn up to a 50 pct interest from hemlo gold mines inc in certain mining properties known as the interlake property subject to regulatory approvals
the most serious us outbreak of the disease occurred in 1971 73 in southern california where the disease spread from infected pet birds to a dense poultry population and nearly 12 mln birds mostly laying hens were destroyed at a cost of 56 mln dlrs the department said
shr 12 cts vs 10 cts net 196 mln vs 176 mln revs 276 mln vs 1704 mln avg shrs 853 mln vs 848 mln note company owns 65 pct of bramalea ltd
previously the 13 16 pct margin granted to mexico was seen by debtors as the margin to strive for
creditor banks may buy into singapore coffee firm
the government national mortgage association has decided not to raise its guarantee fee on mortgage securities louis gasper ginnie mae executive vice president said
washington is insisting that the ec comply with what it regards as an unambiguous ruling from the world trade body gatt and cut export subsidies which have allowed italy to take an increasing share of the us pasta market
first interstate reported to the securities and exchange commission last week that it has about 339 mln dlrs in medium to long term loans to brazil
in december industrial production fell by 28 pct from november while rising 29 pct compared with december 1985
gencorp has ba 2 subordinated debt
gonzalez also disclosed that banks will have the choice of lending up to one mln dlrs in the form of a bearer bond
he said the budget would be the first in a four year economic recovery plan to be announced by the end of december
franklin federal tax free income fund payout
reports the soviet union has lately extended its recent buying programme by taking five to eight raws cargoes from the free market at around 30 40 points under new york may futures highlight recent worldwide demand for sugar for a variety of destinations traders said
samuel montagu and co ltd is lead manager and agent
prices could rise 15 per cent in the first three months of 1987 and two per cent in the first half year fractionally more than forecast this week by the national statistics institute insee marais said
towle also said that it is likely that general unsecured claims including claims of subordinated debenture holders will be paid at less than 100 pct of their face value and without interest
the elimination of price limits on precious metals contracts trading at the commodity exchange in new york appears to be having little effect on the market analysts said
expenses associated with restructuring are expected to be offset by significant gains from the sale of some of gelcos business units it said
their proposals would give brazil a smaller quota share and colombia and indonesia a larger share and bring a new quota distribution scheme into effect now rather than later
appalachian power co a unit of american electric power co said it will redeem on may one an additional 138 mln dlrs of its 12 7 8 pct first mortgage bonds due 2013
under the new agreement venezula was also able to extend the term from 12 to 14 years and to lower debt payments in the 1987 89 period by 64 pct
he told a press conference in jakarta at the end of a two day meeting of south east asian energy ministers that he saw prices stabilizing around 18 dlrs a barrel
turnover 393 billion francs no direct comparison own funds 20 billion francs vs 92 billion after transfer of 128 billion francs from profits and 85 billion from sale of securities
about 27 billion is long term and will cover land transfer costs borne mainly by landowners they said
bass group says it has had talks on seeking control of taft broadcasting
securicor unit seeks 50 mln stg credit facility
revenue would provide 4884 billion shillings leaving a deficit of 2849 billion to be financed through domestic and foreign loans
he said the saudis reported they would no longer accept letters of credit from the bank of brazil or even from saudi banks and that brazil would have to obtain credit guarantees from leading international banks
defense secretary caspar weinbergers position was not immediately known but in the past he has opposed the transfer of high technology to foreign governments and companies
if the refining sector can discipline itself to refine about 12 mln barrels of crude oil a day we have a chance to pull down inventories to acceptable levels by the second quarter said archie dunham executive vice president of petroluem products at conoco inc if not the industry will have a tough 1987 he added
considering what the philippine negotiating team is going to press for there is absolutely no reason why they should not be able to come back from new york in a day she said
argentine port workers take industrial action
dollar seen falling unless japan spurs economy
in addition the company said it is projecting a 17 pct gain in customer telephone lines and a three to four pct increase in long distance calling volumes
the total of all crude refined product and spr stocks rose 94 mln barrels to 15611 it said
indias total oil output is around 30 mln tonnes
what we have now is pins iv he said
diamond shamrock dia sees better 1987 earnings
only if there is a major disaster will we become a major importer a japanese trader in peking said chinese grain imports would rise and exports fall this year because of the drought low world prices and rising domestic demand for human and animal consumption
trade reports circulating the london metal exchange said the vessel en route to new orleans from newcastle new south wales had been carrying 10000 tonnes of lead concentrates
national computer systems inc nlcs 4th qtr net
this gave japan a 16 billion dlr trade surplus
ic industries icx may sell aerospace unit
results for year ago nine mths and current first half restated to reflect acquisition of ej miller enterprises for 1040000 shares in january 1987
horn hardart hor unit disposes 33 restaurants
at present only about one third of the countrys 26 mln jobless corresponding to 109 pct of the workforce receive unemployment benefit
but im certain that in dingmans mind the company is worth more than that in breakup value
shr 61 cts vs 50 cts net 8273000 vs 6913000 sales 2260 mln vs 2159 mln nine mths shr 160 dlrs vs 125 dlrs net 21771000 vs 17369000 sales 6883 mln vs 6358 mln
bundesbank figures showed banks held an average daily 507 billion marks in minimum reserves at the central bank over the first 30 days of march the exact requirement needed just one day before the end of the month
robert campeau chairman of allied said this is a terrific start to our disposition program which is proceeding well ahead of schedule
passenger car prices fell 34 pct and light truck prices dropped 13 pct
the company also said its board is evaluating a proposal to acquire closely held snyder exploration co for one mln geodyne shares
shr 28 cts vs 31 cts net 8117095 vs 8954904 sales 1467 mln vs 1330 mln avg shares 290 mln vs 289 mln first half shr 48 cts vs 53 cts net 138 mln vs 152 mln sales 2730 mln vs 2421 mln avg shrs 290 mln vs 289 mln
in a filing with the securities and exchange commission the group led by mutual shares corp said it sold 110000 cyclops common shares on feb 17 and 19 for 100 mln dlrs
it said the government had launched a national programme to reduce waste calling for improved technology in storage and preservation and greater production of additives
last weeks statement from the seven reaffirmed a february 22 agreement in paris in which the reagan administration agreed to reach a budget deficit compromise with congress and to fight protectionism
it also said anchor hocking corp arh has converted the entire principal balance of its anchor glass convertible subordinated note to 576694 anchor glass common shares
montreal trustco inc year net
the banks parent company gross operating profits were up 54 pct at 2134 billion francs against 2024 billion in 1985
ultramar said it had also included the estimated cost of a further reorganisation programme which was partly offset by a withdrawal of surplus funds from us pension schemes and a 135 mln stg provision for the estimated cost of selling its us flag shipping operation
the bank which raised its rate for ordinary overnight assistance to 13 3 4 from 13 1 2 pct on wednesday opened its special borrowing facility for overnight funds at 14 1 2 pct
the company said that if all the 1985 preferred shares are tendered it will issue 500000 1987 preferred shares disburse 250000 dlrs and cancel all 1985 preferred shares that are tendered
shr profit one cent vs loss 26 cts net profit 59198 vs loss 132702 revs 634616 vs 485730 six mths shr profit one cent vs loss four cts net profit 49669 vs loss 208278 revs 1056452 vs 944330
mge corn syrup futures contract clears hurdle
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
pengo said its kuykenball slickline operation in moore and surplus wireline equipment operations in fort worth and cleburne texas will be sold separately
lanesboroughs subordinated notes lowered by s p
more normal would be about six pct he said
french treasury to repay 680 mln francs of debt
cash flow improved substantially to 323 mln francs from 111 mln and represented 57 pct of turnover against a mere 14 pct in 1985
cgct which controls 16 pct of the french public telephone switching market is to be sold by the government for 500 mln francs by private tender
the government also reported that consumer spending a key element of the five year economic recovery jumped 17 pct in february after falling two pct in january
asked about the iranian rhetoric white house spokesman marlin fitzwater said we wont have any comment or response to the iranian statements
because of their high yields junk bonds have lately outperformed investment grade corporates he and others said
but he would not indicate what the chief considerations for this were for the government
brazil would not repeat the measures it took in response to its debt crisis of 1982 which he said had provoked the biggest recession in his countrys history he added
dole who last year pledged to offer legislation to require a marketing loan for major crops but never did so again called for the marketing loan for wheat and feedgrains
first nine months ended feb 28 shr 474 cents vs 652 net 6030 mln dlrs vs 8130 mln sales 652 billion vs 653 billion other income 4549 mln vs 1602 mln shrs 127 billion vs 103 billion
proved reserves of liquids remained about the same at 251 mln barrels the company said in the 1986 annual just released by transco energy co e the majority owner of the transco exploration partnership
it was really an enormous drop a reduction in rates and that to me is the critical element he told 
what you will see probably in the future is american express selling an additional 17 pct in the public market and have a public vehicle for shearson long said
a depreciation of the dollar means the depreciation of the ringgit which is closely pegged to it making the price of tin cheaper in sterling terms it added
lawyers working in the legal tangle left from the october 1985 collapse of the tin market said this hearing is likely to last a few days
us video vending corp said it completed acquiring first national telecommunications inc from first national entertainment corp for about 10 mln or a controlling interest of us video vending shares
it said the us current account deficit looked likely to fall even more slowly than forecast to 125 billion dlrs in 1987 and 115 billion in 1988 from 130 billion in 1986
chuan hup issues 28 mln dlr frn
the international development association said it approved a 114 mln dlr credit for india to support several water irrigation projects
us analysts expect the american petroleum institutes weekly report on oil inventories to show a slight build in us stocks of gasoline for the week ended may 29 oil traders and analysts said
if the situation persists into winter heating season high cost gas could cut in the companys profits he said
bowl america inc bwla ups payout
he told a press briefing wednesday that manila has dropped a two tier interest payment offer which would have given banks a higher return if they took partial payment in new philippine investment notes pins instead of in cash
the meeting took place on the eve of the annual meeting here of the inter american development bank
growth in 1987 is expected to come from the anticipated rise in export earnings if the industrialised countries sustain their average gnp growth at 25 to three pct it added
dealers will be morgan grenfell lloyds merchant bank ltd samuel montagu and co ltd salomon brothers international ltd sumitomo finance international and sg warburg and co ltd
year ago six mths includes gain of 95988 dlrs from refund of prior years real estate taxes
its businesses include standard and custom engineered centrifugal pumps and mechanical seals for the petroleum industry and advanced controls for the aerospace and defense industries
this will ensure the buffer stock operation is carried out without any financial encumbrance lim said
the meeting at this north island tourist resort is described by participants as informal and no declaration is expected
after holding prices for nearly nine months the plan was unable to withstand the inflationary pressures of booming consumer demand and widespread shortages
dealers described 30 cents as a psychological barrier that was expected to be broken soon after a brief consolidation phase from recent gains
news international nwsll plc is issuing 100 mln dlrs of senior unsubordinated notes due april 10 1990 carrying a coupon of 7 1 2 pct and priced at par said credit suisse first boston as lead manager
lexs existing automotive interests include volvo concessionaires the sole importer of volvo cars and parts into the uk lex said the turnover for sears motor group in the year to 31 december 1986 was 242 mln stg and that at the date of the acquisition the group had about 50 mln stg in external borrowings
china will not increase sugar imports substantially this year because of foreign exchange constraints and large stocks despite falling production and rising domestic demand traders and the official press said
the prime minister said he hoped the next arab summit would tackle the question of continuing financial aid to jordan
south korea has been under pressure from washington to revalue the won
moodys investors services inc said it upgraded upgraded to b 1 from b 3 national gypsum cos 887 mln dlrs of industrial revenue and pollution control bonds
the company earned 635 dlrs a share in 1986
shops in nadi and lautoka center of the countrys sugar industry closed again today in support of bavadra
the bank of italy said the cumulative balance for the first two months of 1987 does not match the total calculated on the individual monthly figures because of the provisional nature of certain data
indonesian tea cocoa exports seen up coffee down
bangladesh cost of living index falls in january
the june 25 buyout proposal remains open until july 17
in addition it said holders of american video convertible debentures agreed to exchange their holdings for about 380000 dlrs worth of paralax stock
monfort of colorado inc soared 21 1 2 to 75 in over the counter trading responding to an announcement late yesterday that the firm will be acquired by conagra inc cag according to a letter of intent signed by both companies conagra will offer 25 of its own shares for each of monforts 43 mln outstanding shares
in a twin announcement csr already australias largest sugar refiner made a 220 dlr a share bid for the 70 pct it does not already hold in pioneer sugar mills ltd
morgan said the certificates will be reoffered at various prices and have an average life of 96 years
the company said the san diego based defense systems and software development company had sales of about 23 mln dlrs in 1986 and will operate as part of balls technical products group
maize harvesting also advanced reaching between 13 and 15 pct of total planted area compared to seven to nine pct a week ago
french ski and tennis equipment maker skis rossignol said its 977 pct owned subsidiary skis dynastar sa agreed to buy canadian ski stick and boot manufacturer cfas from warrington inc a rossignol spokesman declined to give financial details but said turnover of cfas was about 100 mln french francs doubling the rossignol groups activities in the boot and stick sectors
they may get a little more bang for their buck he said
this tranche does not have a catch up provision the kidder officer said
the company said it was taking the actions to restore sheet transaction prices to more equitable levels
bowater 1986 pretax profits rise 156 mln stg
purchasers of the shares are entitled to get one additional share for each share purchased to give effect to the two for one stock split approved by the board february 26
soviet paper details georgian flood damage
we are in registration
shr 12 cts vs 30 cts net 4255000 vs 115 mln revs 1994 mln vs 2587 mln nine mths shr 64 cts vs 119 dlrs net 244 mln vs 455 mln revs 6397 mln vs 8243 mln
amoco corp is apparently the successful bidder for debt laden dome petroleum ltd according to a published report
in a filing with the securities and exchange commission wilshire which holds 417100 jacobs common shares said wilzig was appointed to the jacobs board of directors on march 3 after the companys annual shareholder meeting
the bundesbank accepted bids for 65 billion marks at todays tender for a 28 day securities repurchase pact at a rate of 380 pct a central bank spokesman said
in 1985 group net profit fell to 141 mln marks from 226 mln in 1984 and the dividend lost one mark to nine marks
and after a steady retreat mortgage rates seem to be near bottom
our plans include initiatives on the debt front as well as greater emphasis on debt equity swaps and the promotion of private investment in third world countries through our affiliate the international financial corporation conable told newsweek international
accepting avana shareholders will also be entitled to receive ranks hoviss forecast net interim dividend of 265p for the financial year ending 5 september 1987
the balance is payable over three years
gross domestic product grew by nearly nine pct last year against an initial government projection of 45 pct
noting this point thomas said market fears at the end of last year of an m0 overshoot had now disappeared
qtr ended march 14
city resources is controlled by city resources ltd of australia
boise cascade bcc completes sale of unit
nov 30 end shr four cts vs 11 cts net 62986 vs 174158 sales 720906 vs 907542 year shr 18 cts vs six cts net 277852 vs 94263 sales 2247374 vs 2030390
there is a 1 8 pct praecipuum
this reflected the success of stable and relatively tight fiscal and monetary policies followed by the government it said
qtly div 20 cts vs 20 cts prior pay june one record may 15
ec produced oilseeds would not benefit more than they do under present aid arrangements he said
raven industries inc said it purchased the utility truck body business of astoria fibra steel inc for cash
however several arbitragers said they would shy away from the stock at its current price levels since it is unclear how high bidding for the company would go and whether the company would agree to a takeover
international agreements exist for sugar and wheat
the state oil company said pdvsa will pay on the order of 30 mln dlrs for the half interest in champlin
included in the programs goals are strengthening private sector incentives aiding macroeconomic management and unspecified changes in transportion and agricultural policies the bank said
the company said it would also be willing to negotiate a plan with the supermarkets general board under which supermarkets general shareholders would have a common stock interest in the combined company
the company said the offering will only be made by means of a perspectus to be filed as part of the registration statement
it said the institution is 50 pct owned by arab interests and has set up a wholly owned commercial banking branch in hong kong but gave no more details
however retaliation is an unlikely step at least initially that official said
verity said the us should make certain that militarily sensitive high technology does not wind up in communist nations
shr profit 22 cts vs loss 215 dlrs net profit 271000 vs loss 2530000 revs 163 mln vs 152 mln avg shr 1238000 and 1177000 12 mths shr profit 82 cts vs loss 214 dlrs net profit 982000 vs loss 2517000 revs 665 mln vs 645 mln avg shrs 1193000 vs 1177000 note net loss 1985 yr and qtr includes a charge of 1042000 or 89 cts per share for expenses related to restructuring of companys domestic alloy business
investors pay the us dollar equivalent of the foreign currency denominated notes underwriters said
usda estimates that it costs the government about 75 cents to store handle and transport each bushel of commodity put in government storage
money supply rose at an annualised rate of 167 pct last month against 81 pct in january
the cess for rubber research and replanting remained unchanged at 385 and 992 cents per kg respectively
swedish exports to pakistan will include medical and laboratory equipment electrical telecommunication equipment diesel engine spares mining and security equipment road building and construction machinery fertilisers and palm oil
the agency said 2072 billion dlrs of the reserves was held by the state treasury down from 226 billion at end september while 8442 billion was held by the bank of china up from 811 billion
they said that the export of cut price japanese chips through unregulated distributors has all but dried up after miti instructed domestic makers to cut output
chrysler said its tender offer is expected to begin by june 25 and will be managed by first boston corp
about 100 private companies have postponed plans to issue equity shares and debentures in the first quarter of fiscal 1987 88 partly on account of fierce competition from public sector bonds a merchant banker said
pegasus gold inc pgulf 4th qtr net
the ecs executive commission said in a statement spending on its so called social fund would rise to 31 billion european currency units from 25 billion ecus in 1986
moscow bought 68 mln tonnes of corn and 153000 tonnes of wheat during the third agreement year which ended last september and this year has bought one mln tonnes of corn
matsushitas shares closed on the tokyo stock exchange at 1640 yen down 50 from yesterday
the union represents about 2300 workers on the great lakes and canadas east and west coasts
the central bank early this week also announced that it had bought 494 pct stake in another troubled commercial bank perwira habib bank malaysia bhd after the latter raised its capital to 405 mln ringgit from 105 in mid january this year
goodyear tire and rubber co said its 1986 results include a tax refund of 757 mln dlrs from the costs of restructuring the company in a successful defense against a takeover attempt by james goldsmith
it did not identify the buyers
new zealand launches 100 mln stg eurobond
oats acreage of 195 mln is unchanged on last year and barley area of 59 mln is also similar to last year
shr losses not given net loss 7800000 vs loss 5400000 sales 1812 mln vs 1820 mln year shr losses not given net loss 178 mln vs loss 4900000 sales 5663 mln vs 5233 mln note company operating in chapter 11 bankruptcy
money market sources were divided as to whether they thought the bank of france would use the occasion to cut its intervention rate which has stood at 7 3 4 pct since it was cut from eight pct on march 9
nogales said inflation which soared to over 20000 pct a year in the governments first month in office was now down to 10 pct on an annualised basis from the last six months and the plan was that it should continue at this level
conolog corp cnlg 2nd qtr jan 31 net
chilean consumer prices rise 17 pct in february
this move which we believe is the first transaction of its kind helps us further and we were able to make it without suffering a loss
that plan includes integrating five boat companies that outboard marine has bought since the middle of december
statistics canada said final domestic demand rose 06 pct in the final three months of the year after a 10 pct gain in the third quarter
the officials told reporters industrial production down 05 pct in january from december is likely to turn positive in february and to rise thereafter raising hopes for a brighter economic outlook
denominations are 1000 and 10000 australian dlrs
the agreed cut in farm programs is a compromise between 14 billion sought by the senate and one billion by the house
american security asec buyout completed
but the proposals will scrap the pricing formula that has constrained the companys profits in the long distance business leading to higher profit margins analysts said
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
pancanadian to sell british interests
detroit edison co said it has nearly completed the 50 pct power level testing of its fermi 2 nuclear power plant near monroe mich
data voice is a three year old designer and manufacturer of a multiprocessor multiuser ms dos computing system that gandalf plans to integrate with its private automatic computer exchange information system gandalf said
henry schroder bank said
the transportation departments antitrust enforcement has been disastrous permitting rampant merger mania ohio democrat howard metzenbaum said in a statement
american has 78 mln dlrs of a rated senior debt and 256 mln dlrs of bbb preferred stock as well as a 1 paper
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
in some areas there are waiting lists of farmers seeking a contract with processors to plant beets markwart said
canadian narrowly defined money supply m 1 fell 430 mln dlrs to 3565 billion dlrs in week ended june 10 bank of canada said
passengers crew and cargo were insured by the standard steamship protection and indemnity association one of several shipowners mutual insurance funds worldwide
i would concede that since the louvre accord we are acting as if we are in something leigh pemberton said
the market had opened 1 4 to 3 8 point stronger on news of unexpectedly weak us employment data for march but the advance sparked profit taking which forced prices down about 1 4 point on the day
it said the investment package is subject to shareholder approval and will be presented to its adjourned shareholder meeting on march 26
those released include former carical president francesco del monte who was vice president of one of italys largest state banks bnl banca nazionale del lavoro at the time of his arrest
the wood products company also said it expects to release first quarter results later this month
canadian worldwide said it is optimistic the triton petroleum ltd acquisition will strengthen its financial and production base and permit acceleration of its conventional oil exploration program
analysts today would not venture to say whether another offer could be made but some arbitragers still held to the belief that the bidding could go higher
video display corfp said it has reached a tentiative agreement to sell its existing cable television business for undisclosed terms and expects to report a gain on the transaction
sharp deviations from these guidelines would result in consultations between the countries on whether corrective action should be required
shr loss 78 cts vs loss 18 cts net loss 1671000 vs loss 382000 revs 3261000 vs 4427000 year shr loss 135 dlr vs loss 15 cts net loss 2902000 vs loss 331000 revs 135 mln vs 161 mln note 1986 and 1985 4th qtr net includes charges of 867000 dlrs or 40 cts a share and 222000 or 10 cts a share respectively
the letter pointed out the company has not heard from supermarkets general since making the offer other than on this past monday when we were informed that our offer would be seriously considered and that you would get back to us on a timely basis to arrange a meeting dart said it has acted openly and amicably in an effort to facilitate its proposed acquisition adding it has not purchased additional supermarkets general stock since prior to submission of its offer
talking point caesars world caw 
androsch welcomed government plans to abolish legal controls on foreigners buying voting shares and drawing dividends
uk banks should follow bank of england recommendations strengthening their balance sheets and making more provisions
as a result it carried terms that bankers considered relatively favourable when compared with those on most other recent credits
the astoria product line which has annual sales of about 25 mln dlrs will be manufactured and sold by ravens newly formed subsidiary astoria industries inc raven said
the company has instituted an immediate investigation and both the british and belgian governments are conducting inquiries
i think the offer is too low by at least five points said roffman who described caesars world as the operator of one of the finest casinos in the world sosnoff a new york investor already owns 133 pct of caesars worlds 303 mln shares
a full council meeting was set for 1900 hours for a progress report delegates said
uk money market forecast revised to deficit
shr 10 cts vs 14 cts net 913000 vs 1273000 revs 377 mln vs 247 mln 12 mths shr 61 cts vs 60 cts net 5529000 vs 5448000 revs 1236 mln vs 968 mln note net for qtr and yr 1986 and 1985 adjusted to reflect retroactive effect of three for two stock splits distributed to shareholders in july 1986 and august 1985
shr 31 cts vs 28 cts net 119 mln vs 109 mln revs 1672 mln vs 1540 mln
on january 19 1987 crime control which installs services and monitors electronic surveillance systems said it retained rothschild inc to arrange for the sale of the company
imf officials discussing their outlook said they believed the industrial country economies would move up to an annual growth rate of three pct by the end of the decade
expecting us to pay arrears is like asking a dying man to give a pint of blood greenidge said
following the london collapse we have immediately embarked on a concertation course to avoid breaking an already fragile market he said
if such a range does emerge from the meetings we will have one more rally in the yen horner said
he announced after his meeting that chirac had told him the government would spend two billion francs on a series of measures to boost employment and training andre bergeron a widely respected leader of the moderate force ouvriere labour group put similar demands to chirac earlier in the week while the communist led cgt the largest of frances unions declared the defence of its members earnings its top priority
a mannesmann ag mmwgf spokesman said the company has lodged an application with the federal cartel office for approval of a possible majority stake in car parts company fichtel und sachs ag he described the application as a precautionary move and said no agreement on buying a majority stake had yet been reached
karasmasoglu world bank vice president for east asia and the pacific
as previously announced the board of governors of the exchange approved the contract last month
they agreed to make it easier for a company to get temporary relief from import competition but agreed the industry should provide a plan to become competitive
the official said the moves were intended to balance trade between taiwan and the united states and other trading partners
includes gains of 76000 dlrs and 378000 dlrs in 1985 qtr and year respectively
corrected ivory coast confirms presence at talks
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
the company said under the agreement in principle rkos application to renew the stations broadcast license would be dismissed and the competing application of fidelity television would be granted
the federal reserve will probably intervene in the government securities market to add reserves today economists said
we all hoped the manager would move into the market to buy up to 75000 tonnes in a fairly short period and then simply step back he added
ibm australia credit ltd is issuing a 75 mln australian dlr eurobond due april 24 1990 with a 14 1 8 pct coupon and priced at 101 1 4 salomon brothers international ltd said as lead manager
national distillers and chemical corp said its board approved a modernization and expansion program from its petrochemical division usi chemical co its polyethylene producer
may department stores co may and k mart corp km were among the strong performers posting comparable store sales gains of 94 pct and 82 pct respectively
each right entitles the holder to buy one share of beneficial interest of american realty trust at a price of 375 dlrs per share southmark said
nevertheless it expects the semiconductor business will continue to improve this year
personal consumption expenditures rose 01 pct or 15 billion dlrs to 28933 billion dlrs in may after rising 06 pct or 186 billion dlrs in april the department said
the china daily said the factory has produced high quality general brand cigarettes using advanced machinery and technical assistance worth 25 mln dlrs donated by rothmans under a co operation agreement signed in 1985
chiron corp chiro 4th qtr april 30 loss
the japan india pakistan gulf japan shipping conference said it would cut the extra risk insurance surcharges on shipments to iranian and iraqi ports to a minimum three pct from 45 pct on october 25
chemlawn said if waste management were to sign such an agreement chemlawn would supply it with the same information being supplied to other potential purchasers
the bank of japan stepped up its dollar buying as it re entered the market after the midday tokyo lunch break dealers said
the restoration of coffee export quotas before the end of the current 1986 87 coffee year oct 1 sept 30 now seems unlikely given reluctance by international coffee organization ico producers and consumers to resume negotiations on an interim quota accord producer delegates told reporters
he described criticism of the quality of indonesian beans as trade politics and said jakartas traditional links with dutch buyers meant it did not have any difficulty with exports
bankamerica corp chairman aw clausen said the bank holding company is turning around and is back on the road to profitability
international cocoa organization icco council chairman denis bra kanon will present a compromise proposal on buffer stock rules to producer and consumer delegates either later today or tomorrow morning delegates said
that was down from the previously reported 337000 rise in february
crazy eddie said adoption of the plan is not in response to any known effort to acquire control of it
us treasury secretary james baker said any attempt to declare blanket debt forgiveness for major latin american debtor nations might damage the world economy
the lead manager noted that the issue already has been pre placed in europe and the far east
shr loss 1523 dlrs vs profit 12 cts net loss 124634000 vs profit 882000 revs 384 mln vs 410 mln year shr loss 1546 dlrs vs profit 48 cts net loss 126434000 vs profit 3555000 revs 1870 mln vs 1332 mln avg shrs 8177000 vs 7450000 note current year results include charges related to closing or divestitures of facilities and other assets
if the recent offer had gone through the zico would have owned slightly more than 50 pct of bancrofts outstanding shares
swedish export credit sek has launched a novel 220 mln australian dlr bond which will give the investor the option of receiving interest and principal in australian dollars or marks warburg securities said as lead manager
south koreas gross national product gnp will exceed 10 pct real growth this year and the won will rise further as long as the current account surplus continues to widen deputy prime minister chun in yong told reporters
silas told that the asset sales which amount to about two billion dlrs for 1986 were completed and that none were planned
dixons group plc buys 2455000 cyclops shares now owns 83 pct
japans economic policies face fierce international attack as hopes fade of a substantial drop in its trade surplus international monetary sources said
the cumulative net 1985 earnings of the kingdoms banks had sunk to 8279 mln riyals from 266 billion in 1982 before world oil prices tumbled
we studied the question and asked the banks in which field and what area they can help in the project valentchits said
earlier santa fes stock was up 4 7 8 to 41 before slipping to be up 1 7 8 at 38
heinekens spanish activities should start yielding profit next year heineken said adding that its french operations had already turned to profit after vast rationalization last year
the analysts attribute product stockdraws to seasonal factors but they said crude direction is harder to call
final terms set on atari corp convertible eurobond
each note will bear interest at a fixed rate or variable rate formula established at the time of issuance it said
driver harris co drh 4th qtr net
joskes is the largest unit allied has slated for sale in its restructuring
chemical fabrics cmfb agreement terminated
i wouldnt be surprised to see a fall off in march especially since sales probably wont be boosted by auto sales as they were in february despite the weak underlying trend economists were impressed by a robust 15 pct gain in total sales excluding autos in february
keycorp said the amount of its stock to be exchanged will be based on the daily average closing price of the shares for an unspecified period prior to the closing of the acquisition
fiscal 1985 ended september 30 while fiscal 1986 ended november 30
lufthansa launches flights to washington riyadh
moodys noted that british petroleum would use more than two billion dlrs of excess cash and marketables and about five billion dlrs of new acquisition debt to fund the transaction
the facility is being syndicated by the arranger mitsubishi finance hong kong ltd
bank economists said that the two together showed the economy would either stagnate or contract in the first quarter of 1987
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
lord catto said the second half of 1986 had been one of the most traumatic in our history but that clients and staff had been supportive
royal bank canada ups us base rate 1 4 pct to 8 1 4 pct
the ouptut gdp measure rose 28 pct year on year down from 38 pct in 1985
american express said 75 mln shearson shares would be held by certain employees of shearson and one mln by a shearson stock ownership plan to be formed
year on year retail price inflation was confirmed at 34 pct for february compared with a three pct rise year on year in january
national fuel gas co nfg sets mail date
koehler said the bundesbank was changing money market rates by operating on the open market rather than adjusting leading interest rates because of the signal this gives to the market and its substantial impact on exchange rates
siew said the taiwan dollar had risen by about 15 pct against the us dollar since september 1985
if that is the case gnp in the second quarter could ease back to a one to two pct growth rate kahan said
lifestyle restaurants inc said revenues for the first quarter ended january 24 1985 were 175 mln dlrs and not the 178 mln dlrs it had reported earlier
analytichem based in harbor city calif is a supplier of bonded phase preparation products used to prepare chemical samples for analysis varian said
production at trail and kimberley has been shut down since the strike began may 9 and cominco has had to declare force majeure which means the company may be unable to honor contracts for products from the smelter and mine
with the drop in domestic prices resulting from the marketing loan domestic rice use is expected to grow at a faster rate usda said
joint ventures are the principal instrument for allowing the resources of the industrialized countries to be channeled to the developing world so as to lead future growth for both reviglio said
the united states wants taiwans currency to appreciate faster to reduce taiwans trade surplus with the us a senior trade official said
ranks hovis mcdougall plc rhmll said it was making an increased and final offer for the avana group plc avnal the company already holds about 229 pct or 71 mln avana ordinary shares
no one from the sosnoff organization was immediately available for comment
oper shr 51 cts vs 43 cts oper shr diluted 47 cts vs 43 cts oper net 3182000 vs 2462000 revs 1017 mln vs 870 mln avg shrs 6246664 vs 5671607 avg shrs diluted 7501209 vs 5671607 year oper shr 184 dlrs vs 148 dlrs oper shr diluted 176 dlrs vs 148 dlrs oper net 115 mln vs 8312000 revs 3492 mln vs 3070 mln avg shrs 6238720 vs 5616019 avg shrs diluted 6969389 vs 5616019 note 1986 net both periods excludes charge 1205000 dlrs from distribution system restructuring costs
per share amounts are calculated after preferred stock dividends
tektronix tek begins dutch auction tender
the country is beset by a falling trade surplus and dwindling reserves endangering its ability to service its foreeign debt at 109 billion dlrs the third worlds largest
however the use of certificates preclude the need for 450 to 500 mln dlrs in storage and handling costs resulting in net savings for the government of 50 100 mln dlrs he said
production is surging ahead of what was originally planned while demand is growing more slowly than envisaged a few months ago he said
sumita says further yen rise would adversely affect japanese economy
the warrants when exercised would be repaid in current dollars based on the value of gold on the exercise date
net 177 mln vs 153 mln note national westminster bank plc subsidiary
ten companies plan to offer the unleaded gasoline this summer starting with idemitsu kosan co ltd on june 20
canadas airline industry shaken up by a recent merger that creates a powerful new competitor for government owned air canada has begun its first serious drive for profitability in 50 years industry analysts said
at the very least it is high time that we require all risk arbitrageurs to register seperately and specifically with the securities and exchange commission and that we consider precluding brokerage firms and their employers from investing in or owning any securities issued by third party risk arbitrage operations proxmire said at the start of a hearing on corporate takeovers
at a press conference yesterday a ministry spokesman reported the deposit contained an estimated 44 mln tons of ore with each ton capable of containing 7666 grams of gold
the bank report was especially critical of indonesias drive to plant sugar saying domestic sugar prices are double the world average because of inefficiencies and the country would save money by importing the commodity
it has bought back 337 mln shares as of february 1 when it had 1547 mln shares outstanding a spokesman said
but goodyears independence was preserved at a high price mercer said
a top us official said japan has little chance of persuading the us to drop threatened trade sanctions despite the efforts of a japanese team that left for washington today
clevite clev amends rights plan
nor quest resources inc said it will make a takeover offer to acquire all shares of northair mines ltd on the basis of one nor quest share plus one dlr for two shares of northair
the central banks monetary policy has already done its part in stimulating the economy the senior bank official said
speaking at the annual meeting of the national grain and feed association glickman said he learned this week from the house budget committee that the agriculture committee will have to reduce the fiscal year 1988 farm budget by up to two billion dlrs from the 30 billion dlrs level already approved
by contrast slifer said imported goods prices rose 118 pct from first quarter 1985 to first quarter 1986 reflecting to a large degree a 22 pct drop in the trade weighted real value of the dollar from february 1985 to february 1987
national fuel gas co said its board has approved a two for one stock split and will consider an increased cash dividend at its june meeting
1987 net includes 2400000 dlr gain from tax credit resulting in reduction of goodwill
denominations are 1000 and 10000 dlrs with a 7 8 pct selling concession and a combined management and underwriting fee of 1 2 pct
arkansas best corp abz 3rd qtr net
american greetings corp agreao 1st qtr net
hutton said as of 2400 edt yesterday about 181000 shares of purolator common stock or about 24 pct of the outstanding shares had been validly tendered and not withdrawn
todays peak at 720 pct was its highest since august 19
the united states japan west germany france italy and britain are the major consumers
n d resources nudyo agrees to acquire atoka
a 400000 dlrs loan made by the investors was repaid out of the proceeds it said
home federal bank of florida fsb hfbfo said it has scheduled a special shareholders meetng for july 26 to approve proposed changes to the banks charter and merge with barnett bank incs barnett bank of pinellas county na home federal said the meeting is to approve a definitive agreement signed may 26 calling for each share of home federals common stock to be exchanged for about 40 dlrs in market value of barnett common stock
japanese compound feed output fell to 206 mln tonnes in january from 257 mln in december against 204 mln a year earlier agriculture ministry statistics show
she forecast profit of 299 billion dlrs
latest year net includes pretax charge 350 mln dlrs from sale of wine operations and reorganization of spirits operations in us and related reduction in tax expense of 277 mln dlrs
rayrock yellowknife resources inc said it plans to sell 24 mln dlrs of convertible subordinated notes by way of a private placement through first marathon securities ltd
october shipments were back to contractual volumes as saudi was able to boost exports from other ports
at the end of february broad money stood at 1771 billion dlrs up from januarys 17584 billion and compared with the previous february level of 16060 billion
us real gross national product which grew at a two pct annual rate in the 1986 second half should expand at respective rates of about 23 pct and 25 pct in the 1987 first and second halves
shr net basis 214p vs 175p div 61p making 9p vs 65p pretax profit 372 mln stg vs 319 mln net after tax 257 mln vs 203 mln minority interest 700000 vs 11 mln extraordinary debit 19 mln vs 35 mln turnover 827 mln vs 7669 mln note the company said the sale of the minority holding in ocl in 1986 has transformed the balance sheet and enables it to accelerate development
uk says has no role in brazil moratorium talks
other bankers who declined to be identified said other groups of banks particularly those in switzerland france and canada were equally reluctant to sign although they had not sent any telex to citibank which chairs mexicos 13 bank advisory group
according to one western envoy an expert on polish economic affairs it extrapolated 1979 information on growth trends in trade with the united states as well as increases in credits from western commercial and government lenders
for the barley rebates of between 138 and 14125 european currency units ecus per tonne were sought for maize they were between 12965 and 139 ecus for bread making wheat around 145 ecus and for feed wheat around 14245 ecus
he said to the extent that fewer than 29100000 sdhares are purchased in the offer the stockholders would receive a combination of cash and series a preferred stock having a value of 32 dlrs per share of caesars sosnoff said he believes terms of his offer are superior to caesars recapitalization
but others say the upturn based on strong orders and firm prices this spring has been strictly seasonal and will end soon
and the agency is being pushed by us and foreign exchanges intent on expansion to lay the regulatory groundwork for an international securities marketplace in which trading occurs across borders throughout the world around the clock
home savings bank hmsb sets initial quarterly
some 840000 hectares of farmland have been planted with cash crops including sugar cane peanuts and soybeans 67000 ha more than in 1986
lead managers are credit suisse first boston ltd and cazenove and co
xyvision issues convertible eurobond
in its latest review of the foreign exchange market through the end of january the federal reserve revealed that it intervened to protect the dollar against the yen on january 28
reynolds said he considers it a repugnant device shareholders elected managements slate of 11 directors
we have seen some strengthening of those currencies but not as much as we would like he said
wr grace gra berisford plan cocoa venture
worldwide deliveries in the first two months increased eight pct to 57000
to enroll in the 1987 feedgrains program farmers have to set aside 20 pct of the program acreage base and have the option to idle an additional 15 pct under a paid land diversion program
the company also said its natural gas revenues so far this year have been reduced by lower contract customer purchases due to mild weather and soft economic conditions
earlier the bank revised its money market liquidity forecast from a flat position to a deficit of around 350 mln stg
lorimar said it had been reviewing possible conflicts of interest involving the departing executives with an unnamed outside service organization
procter and gamble co said it appointed the new york ad agency of wells rich greene inc to handle its duncan hines ready to serve cookies effective immediately
the paris agreement was aimed at stopping a further rapid fluctuation of exchange rates he said
maxicare maxio ends plans to sell unit
the companys 65 dlr a share cash offer for piedmont stands he said
fixed rate cmo yields are 7153 to 897 pct for maturities of 2004 to 2017 and average lives of 25 to 2399 years
one veteran debt rescheduler said volcker together with the bank of england deserves credit for keeping the banking system intact after mexicos default
rep
critics say this prompts us banks to focus too much on ensuring steady interest payments from debtors in the short term possibly to the detriment of longer term solutions
at the close of the business today the total amount of debt certificates issued by the exchange fund in return for money transferred from the general revenue account and the various funds in other words the total borrowing by the exchange fund from these sources will be 269 billion dlrs jacobs said
nine us bondholders sued china for repayment of the loan in 1979 less than a year after the normalization of relations between washington and peking
a drop in the ecgds business volume and a rise in its debt to the exchequer have led to criticism in parliament in recent years
seipp added the federal government should make further courageous steps to decrease the states proportion of the german economy and to increase its flexibility
danuta zielonka of wertheim schroder co inc said that recent slowing in the growth of the monetary aggregates is a another factor arguing against firmer fed policy
they can also employ these funds to invest in foreign issues while before they had to be converted into deposits
shipping weight terms will be accepted at a 15 stg discount to this rate
but kuroda said he is taking no new proposals
thus far they have been willing the eic said adding that if japan was deterred from buying us bonds the dollar would collapse
shr loss 162 dlrs vs profit 83 cts net loss 172 mln vs profit 83 mln revs 2640 mln vs 3380 mln noteyear ago figures based on 12 months ended february 28 1986 because company changed reporting period to end december 31
ameritrust also said it will submit for shareholder approval an amendment to the companys charter regarding liability and indemnification of directors and a recommendation to create a classified board
imf approves 1259 mln sdrs for jamaica
oper shr five cts vs 36 cts oper net 508000 vs 3450000 revs 2967 mln vs 2980 mln note former name marshall drummond mccall inc
inspiration cuts copper price 050 ct to 74 cts
world bank report criticises peru economic plan
nz weekly t bill tender set at 80 mln dlrs
industrial equity to make proposal to calmat czm 
the judge said he would not rule on the request today
it said it would place major emphasis on managing service america to improve operations and increase earnings at the unit
the company said a contract has been let for a 200 to 400 tons per day mill and the company is receiving cooperation from provincial and federal agencies on its stage one report approval in principal which is required before actual construction can begin
imperial bancorp said it declared a five pct stock dividend payable may 29 to shareholders of record april 17
foreign policy decisions of the us state department have in the past severely hampered our efforts to move our product to overseas markets he said
economists say the systems fortunes now will depend largely on the success of an agreement last month among major industrial nations to stabilise exchange rates
he said peru exported 1616101 quintales in the year to september 1986
icn said it bought the stake for 39 mln dlrs as an investment and has no plans to seek control of the company or to participate in the management of it
nord resources corp nrd 4th qtr net
nerco ner to acquire interest in gas filed
the senate yesterday unanimously passed a resolution calling for action against japan for violations of the pact since september
pri said all shell brand products sold under this agreement will be manufactured to shell specifications
the philippines offers a textbook case of the economic dangers
its other big activity aircraft component manufacture has performed so well that mhi now accounts for half of the money tokyo spends on defence procurement each year
it has an average life of 35 years and matures 2016
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
yields on the remaining fixed rate cmos the balance of the 500 mln dlr issue range from 7 1 4 to 927 pct or 90 to 160 basis points over comparable treasuries
senior officials in the west german coalition government said tax cuts planned for next year would be increased by 52 billion marks in line with a pledge made by finance minister gerhard stoltenberg at last months international monetary conference in paris
record male unemployement of 31 pct was set in july 1986
ghana lifts rice maize import ban due to drought
the yield for tankoku issued on a discount basis is one point below the 426 12 pct interest rates for six month certificates of deposit today
us officials said baldrige will meet philippines president corazon aquino on april 28 to show continued us support for her government and to discuss steps it could take to improve the atmosphere for american investment
chairman gerald f cox said the improved performance was mainly due to product prices falling more slowly than crude prices during the year
the pmb had sought an immediate suspension in futures trading and asked the lpfa to take action to restore the relationship between futures and physicals
in czechoslovakia and poland it was mostly warm favouring beet development
federal paper board fbo to sell preferred
the agriculture department will have to release an estimated 16 billion dlrs worth of in kind certificates or certs to corn farmers this fall if usda decides to maintain an equal split of total 1986 feedgrain deficiency payments in cash and certs usda officials said
although todays negotiations did not produce a final agreement the decision to meet at the weekend appears to be a signal that the two sides are making progress
in a letter to sgl dated march 20 dart also said it was denied confidential information on sgl that would be given to other potential bidders
soybean cake and meal sales of 289400 tonnes were two thirds above the previous week and the largest of the marketing year with venezuela the dominant purchaser
security pacific spc downgraded by moodys
fees are 3 4 pct for selling and 1 2 pct for management and underwriting
the agriculture departments widening of louisiana gulf differentials will affect county posted prices for number two yellow corn in ten states a usda official said
vogel said bangemann had pledged that everything possible would be done to minimize the effects of reduced coal and steel production on the workforces and regions concerned
man said
since then zambia has operated a fixed exchange rate of about nine kwacha per dollar
despite the presence of marines there were no reports of incidents
they said major japanese investors in the past two years are estimated to have held 50 to 80 pct of their foreign portfolios in us bonds but many have lightened their us bond inventory to as low as 40 pct
montedison other refineries to shut for work
soybean meal supply demand by country usda
ec farm ministers will have a first discussion of the proposals at a meeting beginning next monday
diamond shamrock corp said it will accept about 27 pct of the 73653000 shares of its common stock tendered in response to the companys offer to pay 17 dlrs a share for 20 mln shares
taiwans exports in the april june quarter are expected to rise to 1203 billion us dlrs from 963 billion a year earlier and 1128 billion in the first quarter
gillette gs gets offer from revlon rev 
standard and poors inc said it withdrew the ratings on lear siegler incs a rated senior debt and preferred stock a minus subordinated debt and a 1 commercial paper
the non callable bond is available in denominations of one mln yen and will be listed in luxembourg
san miguel brewery ltd a locally listed firm 6965 pct held by san miguels neptunia corp affiliate was last traded at 1630 hk dlrs against 1550 dlrs on friday
direct investment abroad led to a capital outflow of 160 billion marks in february after 283 billion in january
entourage international inc said it had a first quarter loss of 104357 dlrs after incurring 70000 dlrs in costs for an internal audit a report for shareholders and proxy soliciation and 24000 dlrs in startup expenses for opening london offices
uk money market deficit forecast revised upwards
moet hennessy shares closed on the paris bourse today at 2678 francs up 38 from yesterdays close
cooper lasersonics inc zaps 1st qtr loss
profits from paper and pulp grew 29 pct to 217 mln stg nearly three times the 1982 level with wiggins teapes sales rising 36 pct to pass one billion stg
the anticipated loss reflects lower than expected operating margins start up costs for new product manufacturing and higher than planned expenses
in the 1986 first quarter the company reported net income of 675 mln dlrs including one time gains from sale of assets or 230 dlrs per share before the stock adjustment
the cash portion would include the amount previously paid for the rexham stake and the terms of the convertible preferred stock would be negotiated the company said
contl illinois cil says moratorium may cut net
he gave no detailed figures
first of america bank corp said it completed its affiliation with lewiston state bank of lewiston mich
us february consumer prices rose 04 pct after 07 pct rise in january
avx corp avx 3rd qtr oct three net
an big expansion in bilateral trade is expected as a result of swedish prime minister ingvar carlssons visit to china a official of chinas foreign economic relations and trade ministry official said
the issue was lead managed by ibj international ltd and was quoted on the grey market at less 1 7 8 less 1 3 4 pct compared with the total fees of 1 7 8 pct
london march 26 the bank of england said it provided 15 mln stg in assistance to the money market this morning buying bank bills in band two at 9 13 16 pct
gotaas larsen shipping corp said it had exercised an option to build a fifth in a series of crude oil carriers to be constructed by daewoo shipbuilding and heavy machinery ltd in south korea
posted prices for 03 pct and one pct low sulphur fuels were unchanged at 22 and 20 dlrs it said
but despite this upward push on real dutch rates money dealers do not expect the central bank to cut official rates independently without prior moves by the bundesbank
ccc seed credit gurantees for algeria usda
the capital increase will bring the group around 12 billion francs in new funds to finance its expansion plans
moodys downgrades bankers trust affects 17 billion dlrs of debt
us officials disagree on reducing budget deficit
foote mineral fte to merge into rio tinto
the aidc last week said it issued under the same facility the first of several five mln australian dlr denominated euro commercial paper tranches in asia
the joint committee of taiwans maize importers awarded contracts to five us companies for seven shipments totalling 340000 tonnes of maize for delivery between september 1 and december 20 a committee official said
richmond said she earns 1635 dlrs a month by chatting 40 hours a week in english to japanese who hope to learn the language
12 mths 1986 excludes discontinued operations loss 129000 dlrs or three cts per share
thera care inc to acquire cushing
a takeover battle began today for debt burdened dome petroleum ltd dmpmo as transcanada pipelines ltd trpto announced a 43 billion dlr offer and dome said it is continuing talks with other possible buyers
malaysias central bank said it acquired a 592 pct stake in ailing united asian bank bhd uab the sixth largest commercial bank in the country to rebuild public confidence in it
trelleborg then said it had no plans for consolidating boliden
earlier new zealand sources had said french foreign trade minister michel noir had pulled out of the informal gatt talks for domestic political reasons
chris craft industries ccn which owns a stake in warner rose 1 1 4 to 22 3 4
egypt will be seeking 20000 tonnes of may arrival white sugar next week while greece has called an internal ec tender for 40000 tonnes of whites to be held in early april for arrival in four equal parts in may june july and august
japan bought 4000 tonnes of canadian rapeseed overnight at an undisclosed price for last half may first half june shipment trade sources said
security pacific said the federal reserve board approved on wednesday its purchase of the portland ore based bank holding company and financial services concern
this might be a determining factor in todays result they added
jacobs suchard ag said it acquired a comfortable majority interest in its takeover bid for cote dor sa belgiums leading producer of chocolate
a group of creditor banks hopes to work out a rescue package for japan line ltd jlitt one of the worlds largest tanker operators by the end of japans business year on march 31 a spokesman for the industrial bank of japan ltd ibjtt ibj said
japan is taking the matter seriously he added
randall hubbard chairman of afg and joel reed chief financial officer of wagner and brown attended the meeting which was shifted from a tire plant to a downtown hotel
american motors corp said its auditors qualified the companys 1986 financial report
piedmont has received opposing bids from norfolk southern corp and us air corp
on a comparable store basis sales rose one tenth of one pct
the transaction subject to regulatory approval is expected to be completed during the second quarter of 1987
chee said corenes pora is an old disease which only affects certain rubber clones in sri lanka and indonesia and that further use of such clones must be discontinued
qtly div 10 cts vs 10 cts prior pay april 30 record april three
japan isolated yen rises world feels cheated
the group which is led by the wealthy bass brothers of fort worth texas did not identify any of the other people with whom it had talks
eastman kodak co is raising 25 mln dlrs through an offering of notes due 1997 said sole underwriter morgan stanley and co inc
campbell in its bid that expired march 23 offered 80 cts cash and 125 legended campbell shares for each meston share
market makers will be credit suisse first boston morgan stanley international and svenska handelsbanken plc
in the first stage poclain reduced its capital to 91 mln from 455 mln by reducing the nominal value of its shares to 10 francs from 50
bethlehem steel bs says liquidity adequate
british aerospace 1986 pretax profit 1822 mln stg vs 1505 mln
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
adjusted bank borrowings from the feds discount window averaged only 228 mln dlrs a day in the first week of the bank statement period ending next wednesday compared with 233 mln and 451 mln in the first weeks of the previous two periods
i would not be surprised if the bundesbank cuts the amount a little to say 14 or 15 billion marks one dealer said
shr loss 48 cts vs loss 19 cts net loss 746000 vs loss 342000 revs 3213000 vs 2925000
japan and thailand to jointly extract rare metals
the key arguments being faced by the icco working group on buffer stock rules which is meeting today and tomorrow will be over non member cocoa and differentials the buffer stock should pay when trading different types of cocoa
charming shoppes inc chrs 4th qtr jan 31 net
extraordinary debit 365 mln vs 204 mln
harris teeter properties htp reports earnings
weve heard news every now and then of violations but they were not at all verified he said
full name of company is marcom telecommunications inc
speaking here after a meeting of the 11 nation cartagena group marcano said he was aware of political pressure at home to reduce debt payments but did not think such a move would benefit venezuela
it said a state is recognized as tuberculosis free if no case of the disease is diagnosed for at least five years and if the state complies with the uniform methods and rules of the state federal cooperative eradication program
oper shr 36 cts vs 25 cts oper net 710000 vs 5700000 avg shrs 200 mln vs 228 mln nine mths oper shr 103 dlrs vs 73 cts oper net 213 mln vs 152 mln avg shrs 207 mln vs 209 mln note 1986 net excludes realized capital gains of 2300000 dlrs in quarter and 226 mln dlrs in nine mths
dome dmp benefits from takeover speculation
french 13 week t bill average rate rises to 746 pct from 737 pct official
sandvik diamant boart finalise drills merger
venezuelan energy minister arturo hernandez grisanti said he foresaw market stability in the price of crude despite growing tension in the gulf augmented by the us military attack on an iranian oil platform
us exporters report 125000 tonnes of corn sold to ussr for 1987 88
india has called a fresh buying tender for up to four 13000 tonne cargoes of white sugar on march 11 traders here said
domestic expansion in foreign industrial countries has not been enough to offset the effects of slower exports volcker said
many times widening of the margin between the two would implicate we have to buy or sell large amounts of a third currency central bank vice director jan hendrik du marchie sarvaas said
a 3 1 2 year labor contract at the plant expired december 13
the waterway is expected to lose 9 10 mln canadian dlrs this year about the same as the estimated deficit for fiscal 1986 87 ending march 31 said william blair an executive member of canadas st lawrence seaway authority
denominations are 5000 and 50000 marks
since the government was unlikely to cut expenditure as a percentage of gross domestic product a major tax increase was probably unavoidable bayliss said
harper international inc hnt 3rd qtr jan 31
this is after accounting for the loss of some 15000 to 20000 tonnes due to the transport problems in the countryside they said
under the new accord the standstill will be extended for three years to june 30 1990
in a filing with the securities and exchange commission the group said it purchased 511500 bell and howell common shares between april 29 and june 26 at 4425 dlrs to 5602 dlrs a share
initial proposals would have given cable a three pct stake
kmw systems corp kmwso 1st qtr sept 30
french official reserves fell 4506 billion francs to 37595 billion at the end of january from 42100 billion at the end of december the finance ministry said in a statement
about 40000 tonnes sold for ocean shipment at prices ranging from 19967 to 21017 dlrs per tonne c and f and about 11000 tonnes sold for rail shipment at prices from 20550 to 21788 dlrs per tonne they said
tvi corp tvieo year 1986 loss
recent us oil demand up 19 pct from year ago
1986 per share figures not available as bank converted to stock form in august 1986
todd said the reduction in the net worth requirement allowed for the payment of the preferred dividend and prevented it from violating covenants of its credit agreement
shr 28 cts vs 41 cts net 205000 vs 229000 nine mths shr 86 cts vs 101 dlrs net 622000 vs 566000 note share reflects issuance of 166750 common shares in december 1986
goldner the owner of pagex systems inc which is also engaged in the direct marketing computer service business
joule inc said its board declared a three for two stock split payable april 30 record march 31
until last year the federal government had subsidized synfuels development through the us synthetic fuels corp a research program created during the carter administration with the goal of developing replacements for up to two mln barrels of oil
dixons paid an average price of 695p per share which compares with 819p today
kim who is also economic planning minister said the current account surplus previously expected to exceed eight billion dlrs this year would be held at about five billion dlrs by increasing imports accelerating market liberalisation and rationalising exports
this bings the total amount that must be charged against earnings to 2326 mln dlrs after taxes southern said
feasibility studies are still being done on the carbozulia project with a definitive accord slated for august he added
although in the short run it is difficult to see a direct link between arab anger and threats to oil supplies in the current environment it will be increasingly difficult for moderate arab leaders to be seen as friendly to us interests ebinger said
the bank of thailand is seeking finance ministry approval to issue its first bond central bank sources said
commenting on the years performance the company said it suspended operations at the 60 pct owned agnew nickel mine because of losses sustained from declining nickel prices
another 250 mln dlrs will be needed to repay certain debt of borg warner merrill lynch said
in january the import price index base 1980 was unchanged compared with december but 178 pct lower against january 1986
the purchase terms were not disclosed the company said
the canadian import tribunal ruled today subsidized us corn imports were injurious to canadian growers and upheld a countervailing duty of 849 us cts a bushel set earlier this year
oil traders said one japanese refiner came into the market to but 10 cargoes of may dubai which sent prices up on mideast sours with dubai trading up to 1650 dlrs after trading yeterray as low as 1563 dlrs and then spilled over into the north sea crude oil market
to stay competitive fund managers must invest overseas and gain experience with financial instruments which are likely to spread to japan with further deregulation
coastal to file proposed plan for transamerican liquidation on april 15
cattani jr
bastian industries inc 2nd qtr jan 31 loss
western mining corp holdings ltd wmngs wmc said it will establish a new joint venture gold mine in the northern territory at a cost of about 21 mln dlrs
construction of the plants which are a major item in the current five year plan will begin soon
economists and bankers estimate that the rising value of the local dollar has attracted about ten billion us dlrs of speculative money into taiwan since early last year
shr profit one ct vs loss two cts net profit 52405 vs loss 67967 sales 289572 vs 188713 year shr loss one cts vs loss five cts net loss 51019 vs loss 201680 sales 11 mln vs 490935
price for 03 pct sulphur was unchanged at 2225 dlrs it said
cummins said the company should make progress this year and next toward its goal of five pct profitability
the new increase in interest rates has come precisely when we thought they had still not come down enough iglesias said
at end january 1987 the total amount outstanding was 2407 billion stg up from decembers 2377 billion stg and 30 pct above the total three months earlier the department said
shell invested 500 mln dlrs over the past five years to upgrade its oil refining and marketing business but further investment required an appropriate rate of return he said
tektronix inc tek 3rd qtr net
about eight billion marks were coming into the market tomorrow from salary payments by the federal government
twa was off 3 8 to 31 1 2
one member of the soybean delegation said that the meeting was a listening session for usda and that the proposals will now be studied further by the department
bond analysts said that in view of the states practice of weighting the bulk of its capital market borrowing in the first half of the year it would be likely to raise at least four billion guilders
the company further stated that it has a 17 mln dlr working capital deficit and it will therefore reduce operating expenses by decreasing operating hours workforce reductions and the sale of certain assets
west german commercial banks are cautiously cutting key savings and lending rates banking sources said
interdyne co idyn 1st qtr feb 1 loss
the company noted its petition covering the product and its safety evaluation were submitted to the fda last month
however an accident to the rail ferry which plies between the ugandan lake port of jinja and kisumu in kenya put it out of action between february 21 and march 15 causing fresh delays in cargo movements
some of them are producing less some oil industry sources had said the united arab emirates which had been generally been producing over its quota since opec returned to quotas last september was still pumping more than its allotted amount in the first months of this year
the nymex meanwhile has a counterclaim pending against apex oil seeking an unspecified amount of attorneys fees and 15 mln dlrs in punitive damages according to a nymex spokeswoman
trading will be computerised and scripless
canadian lead limits are currently 11 times as high as the us limit but lead is scheduled for virtual elimination in canada by 1993 which should create a canadian demand for mtbe it said
philippine government revenue is expected to rise 26 pct to 999 billion pesos this year from 791 billion in 1986 finance secretary jaime ongpin said
a bill also was introduced by rep
shr 40 cts vs 11 cts net 8265000 vs 2255000 sales 2483 mln vs 2454 mln six mths shr 94 cts vs 51 cts net 194 mln vs 106 mln sales 531 mln vs 5358 mln
shr profit seven cts vs n a net profit 587000 vs profit 3231000 sales 185 mln vs 187 mln nine mths shr loss 39 ct s vs n a net loss 2368000 vs protit 7165000 sales 554 mln vs 542 mln note current nine month figures include extraordinary loss of 12 mln dlrs or 17 cts per share resulting from costs associated with restructuring
qtly dividend payable december seven to shareholders or record november nine
exports increased by only 73 billion dlrs or three pct to 2218 billion dlrs
shr 22 cts vs 16 cts net 2460000 vs 1730000 sales 370 mln vs 273 mln per share figures adjusted for two for one stock split of february 1987
in active trading this week the market pushed the dollar sterling the canadian dollar and australian dollar higher
asked after his testimony if this meant the united states would close its markets to japan if they did not open theirs baldrige said im not prepared to say that but it certainly would be one of the alternatives studied baldrige said in his testimony japan had a closed supercomputer market and a restricted telecommunications market
although the company said it would meet commitments this will put further pressure on stocks
the 360000 tonnes in the inra buffer stock must be liquidated and a free market returned a malaysian trader said
gulf and western incs publishing unit simon and schuster said it agreed in principle to acquire woodhead faulkner publishers ltd a british based publisher of professional and consumer books for undisclosed terms
other eurofranc bonds this month are likely to include issues by a bank and a company both unidentified but no other details were available
indian state firm signs 1691 mln mark loan pact
the index now stands at around 664 a marked improvement in the balance of payments is forecast the nzier said
however the figure for january alone showed a fall in output of 01 pct from a year earlier
the remaining 05 billion francs will be raised through treasury operations
washington imposed the tariffs because of japans alleged failure to uphold a 1986 agreement on semiconductor trade
former herstatt dealer can be sued court rules
chitambala also said that the state run zambia consolidated copper mines zccm had closed its liaison office in johannesburg since it was now redundant
it will be paid in the form of commodities from the inventory of ccc stocks
he said the offer and withdrawal rights will expire at 1630 est 2130 gmt march 30 1987
the unions sugar beet committee met yesterday to consider the implications of a government monopolies and merger commission mmc report issued last week
be careful he warned theres not as much coffee in the world as they say
qtly div 11 3 4 cts vs 11 3 4 cts prior pay march 27 record march 13
bank debt accounts for about 70 pct of yugoslavias overall debt which stood at 197 billion dlrs at end 1986
strathfield oil and gas ltd year net
the mine started in 1896 by a us company is one of six or seven virtually untapped mines in the unzan area 94 miles north of pyongyang li said
great western financial corps subsidiary great western bank said it will purchase three retail banking branches in south florida with total deposits of 90 mln dlrs
stone said the final portion of the 11 billion dlr credit facility will be a 100 mln dlr letter of credit which will replace an existing letter of credit relating to the operating lease of its co generation energy facility nearing completion at its linerboard and kraft paper mill in florence sc
mountain states resources corp said it acquired two properties to its strategic minerals holdings
such a liffe contract is expected later this year
lawson said he did not think that the uk s relatively high level of real interest rates had hurt investment in britain
bank of france sells 16 billion francs of caisse de refinancement hypothecaire tap stock official
the range of the value of the reserves is attributed to the wide range of grade estimates of the ore the company said
techamerica group inc tch 4th qtr loss
pay date is april 7
japan has launched a last ditch effort to salvage its computer micro chip pact with the united states sending a letter to top american policy makers setting out its case and instructing its producers to cut output further
the total capacity of the burning tanks was over 10000 cubic metres but some had been empty when an explosion started todays fire he added
revenues for the full year ended december 31 1986 were 55 mln dlrs and net assets at year end were 3175 mln dlrs
another provision of the act could result in limiting the use of tax credits if a change in ownership of continental takes place the report said
island telephone co ltd said the previously announced two for one common share split was approved by shareholders at the annual meeting
a number of details have still to be finalized but the broad details of the new amortization schedules and interest rates are in place one senior banker said
in its annual report and in a briefing for reporters the bank made it clear however that the latin countries needed vast amounts of new investment if they are to strengthen their ailing economies in the period ahead
non callable for two years the issue is rated b minus by standard and poors
alltel corp is raising 50 mln dlrs through an offering of debentures due 2022 yielding 890 pct said lead manager merrill lynch capital markets
also includes writedowns of oil and gas assets and tubular goods inventory of 822 mln dlrs and 4246000 dlrs respectively for 12 mths
shr 42 cts vs 153 dlrs net 33085000 vs 123450000 revs 5350 mln vs 4967 mln avg shrs 78755000 vs 80666000 nine mths shr 124 dlrs vs 335 dlrs net 98322000 vs 271512000 revs 158 billion vs 149 billion avg shrs 78999000 vs 81022000 note 1987 per share earnings include daily news severance charges of 11 cts a share in the quarter and 13 cts a share for the nine months 1986 net income includes non recurring gains of 111 dlrs a share in the quarter and 223 dlrs a share in the nine months and five cts a share daily news severance charges
one analyst said another factor in the latest hughes turnabout was borg warner corp bor which owns 185 pct of hughes
it said lead underwriters are goldman sachs and co and alex
a bank of japan survey released last week showed that the decline in japanese corporate earnings may be nearing its end
canadas decision to raise the issue of a free trade pact with the us was a sign of what many see as a new spirit of canadian self confidence a public policy study group said it suggests the canada of the immediate post war period when it was a major player in the process of building a postwar world the washington based atlantic council said
it said a january survey put the total area under sugarcane at 545528 hectares down from 556860 hectares the previous year
completion of the proposed transaction is subject to hurons ability to hire an experienced work force at competitive rates and receive government approval of the purchase and operation of the plant swift said
all in all the bundesbank in no way abandoned its money supply policy with the january discount rate cut despite suppositions to the contrary mueller said
they said the financial rand in particular was being driven by a tentative provision in the new debt agreement that could favorably affect the currency
it also said the commission is now awaiting its public staff divisions report which will recommend how much of the 58 billion dlr investment pacific gas should be allowed to recover in rates
sao paulo state presidente prudente nil votuporanga nil franca nil catanduva nil sao carlos nil sao simao nil
no one would benefit if after years of over valuation the us dollar fell into the other extreme that is strong under valuation he said
both of these nations have moved rapidly into large bilateral surplus with the us and major overrall trade and current account surpluses the morgan study says
midwest cash grain slow country movement
ford f credit unit sells notes at 813 pct
mexico currently produces around five mln 60 kilo bags of coffee per year
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
baldrige warns of world trade war danger
usda estimated soviet 1986 87 coarse grain imports at 1000 mln tonnes vs 800 mln tonnes last month and 1985 86 imports at 1370 mln tonnes vs 1370 mln tonnes last month
the unit had assets of 182 mln dlrs as of september 30
shr 13 cts vs 13 cts net 617000 vs 604000 revs 1889000 vs 1920000
the us energy department issued a request for proposals to buy the snettisham hydroelectric project a major part of the alaska power administration
the development banks after tax profits rose 392 pct in 1986 mainly due to a dividend of 204 mln dlrs paid by national discount company ltd before it became a subsidiary of the bank they said
in 1986 profits from continuing operations slumped to 1395 mln dlrs or 154 dlrs a share
first interstate has 42 franchise banks that offer first interstate financial services in ten states
soybean acreage in the eastern corn belt will not budge he said
imperial chemical industries plc icil is issuing a 100 mln stg eurobond due april 15 2005 paying 9 3 4 pct and priced at 101 1 4 pct lead manager warburg securities said
britain will from next autumn mint and market a new bullion coin called the britannia containing one ounce of 24 carat gold together with bullion coins of smaller denominations a treasury official said
viacom said mcv holdings a group which includes the companys senior management and the equitable life assurance society of the united states raised the value of its offer by increasing the value of the preferred being offered to 850 dlrs from 800 dlrs a share and raising the ownership in the new company to be held by present viacom shareholders to 45 pct from 25 pct
gulf applied technologies inc gats 4th qtr
said it has increased its primary aluminum prices by two cents a lb effective with new orders as of march 25 and all shipments beginning may 1
amer signs 50 mln dollar multicurrency loan
peru will put into effect today a foreign exchange rationing system for imports designed to stop a slide in the countrys international reserves a government decree in the official gazette said
societe marseillaise de credit is co lead
it added that revenues would have risen by about seven pct had those changes not occurred
raytheon co rtn sets quarterly
they said 25000 tonnes to be shipped from bordeaux were sold at 1603 francs per tonne fob 15000 tonnes from rouen at 1596 francs fob and 15000 tonnes from sete at 1607 francs fob
however the status of twas bid for usair group is currently uncertain
a free trade agreement currently being negotiated with canada would be exceedingly helpful in allowing american producers to compete more effectively in that country heller said
the financing for the offer includes the 250 mln dlrs in equity from general partners the 125 billion dlr loan from shearson lehman brothers a senior subordinated bridge loan for which a binding agreement can be delivered within 24 hours after a request from the partnership and the one billion dlr credit line from wells fargo
alternatively support could be limited to wheat which could be easily sold without needing to be stored for a long period
carling okeefe sells star oil unit to united coal canada for 57 mln dlrs
at the same time it wants to avoid an expansionary monetary impact from on lending schemes whereby debt repayments are recycled by banks into new loans
if were an example than other resource industries had better watch out he added
he said the board has authorized management to explore alternatives aimed at providing shareholders with a financially superior alternative to the general acquisition offer
brazils other major crop cocoa is in its third year of surplus
sudanese officials said prime minister sadeq al mahdis government would shortly announce a four year economic plan aimed at starting the countrys recovery
proceeds will be used for general corporate purposes including the reduction of short term borrowings acquisitions stock repurchases and capital expenditures
additional influences next week will be possible developments ahead of an opec members meeting and the impact and size of the us budget deficit although these will not be in the forefront of the market early next week kahan said
in its newly released annual report union texas said it replaced about 71 pct of its production of 56 mln barrels of oil equivalent last year after taking into account the sale of 27 mln barrels of us reserves
cut were danas senior debentures industrial revenue bonds and medium term notes to a minus from a and commercial paper of dana and its unit dana credit corp to a 2 from a 1
golden north has encouraging drill results
the dividend includes five cts attributable to the period between dec 23 and 31 1986 and 50 cts attributable to the first quarter of 1987 ending march 31 1987
india is likely to press for international export quotas at a meeting of coffee producers in london this week because of depressed prices he added
lb rheinland pfalz issues australia dlr bond
eugene sherman chief economist of the federal home loan bank of new york said the lower sales level will be maintained for awhile until there is another change in rates
however he said banks may be reluctant to lift the prime because that would dampen already fairly weak business loan demand and because some are not sure the fed will maintain recent upward pressure on money market interest rates
manila said to offer debt bonds to banks
the offer will be of 345p cash for every wickes share
no specific figure has been put for soviet bookings but they have been sufficient to drain panamax tonnage about 50000 to 65000 tonnes dw from the us gulf which would normally operate on the trip to japan dealers said
allied ald affiliate restates loss larger
taiwan proposes further tariff cuts
microtel inc makes acquisition
a county natwest official said the facility launched earlier this week seemed to be progressing well in syndication
mobil said it was confident 1987 would see a return to profit as it built further on its 1985 company restructuring
also washington and its allies are reviewing remaining export controls in hopes of simplifying the list of prohibited items and speeding up the licensing process he said
analysts said they foresaw uk base rates falling as early as today by as much as one full percentage point after lawsons announcement yesterday that the public sector borrowing requirement in fiscal 1987 88 and 1988 89 was to fall to 10 pct of gdp or some four billion stg
rand mines properties ltd one of south africas big six mining companies said in a statement that the accident occurred on saturday morning at the east rand proprietary mines ltd mine at boksburg 25 km east of johannesburg
china signs world bank loan for tianjin port
open interest in the nikkei contract introduced last year reached a record 2697 on february 26
the commonwealth bank of australia is issuing a novel 100 mln australian dlr eurobond due april 6 1992 paying an initial coupon of 16 pct and priced at 101 pct lead manager swiss bank corporation international said
the construction industry was likely to engage new workers for the first time since 1980 but they predicted either no rise in employment in the manufactured goods industry or only a slight expansion
banks had been pressing brazil to make at least a token interest payment but gros said the government was unable to comply for the moment
during a debate on the 1987 88 british budget which lawson unveiled last week he said that during the period of foreign exchange market turbulence which followed the somewhat inconclusive group of five and group of seven meetings at the end of september i authorised the bank of england to intervene unusually heavily in order to buy breathing space that would enable me to confine the interest rate rise to one pct rather than the two pct the market was then pressing for he said that that one percentage point increase effected in october 1986 had been reversed by this months two half point cuts in banks base lending rates
baldrige opposes japanese purchase of firm
bank of finland will announce new measures
wilson gomes de moura president of the national confederation which groups the bank employees 152 unions representing 700000 workers told the indefinite stoppage would affect all banks
the bank of tokyo ltd is issuing a 100 mln dlr convertible eurobond due march 31 2002 paying an indicated coupon of two pct and priced at par lead manager bank of tokyo international ltd said
athlone industries inc ath sets qtly dividend
black and decker bdk sells 10 year notes
stocks of slab zinc totalled 14780 tonnes down from decembers 15008
new cooper basin gas pool discovery reported
under the accord reached following us complaints about the impact on its agricultural exports of spanish ec membership the ec will import two mln tonnes of maize and 300000 tonnes of sorghum a year up to end of 1990
sosnoff said his mts acquisition corp to date has received only a negligible number of caesars world inc shares in response to its 28 dlr per share tender offer for all shares
interest rates have declined by approximately 50 basis points over the last month largely over indications that inflation is not as high as people had feared and the narrowing us trade balance in nominal terms samuel kahan chief financial economist with kleinwort benson government securities said
shr 325 hk dlrs vs 140 final div 52 cents vs 38 making 75 cents vs 57 net 128 billion dlrs vs 5517 mln note earnings excluded extraordinary gains of 9836 mln dlrs vs 813 mln
damage was most severe on plants above the ground where little or no snow cover was present he added
it said it recorded income from continuing operations of 164 mln dlrs or 227 dlrs per share in the previous year
iel itself is 51 pct owned by brierley investments ltd of new zealand merrill lynch said
the additional output would be related to plans now under discussion for venezuela and mexico to lend ecuador crude while it repairs a pipeline damaged by the quake
advanced computer techniques actp year net
of the total 2059400 shares are held by gamco investors inc and gabelli funds inc
norton nrt to sell south african operations
amro bank nv announced a 150 mln guilder seven year dual currency bond issue with a 65 pct coupon on behalf of bp capital bv guaranteed by british petroleum co plc bpl subsidiary bp maatschappij nederland bv
brisk increases in personal income and consumption are to appear in february data released today but the bond markets recent sluggishness suggests there will be no major price reaction unless the rises are much larger than expected economists said
pauls place inc said chairman president and treasurer paul d
it said mckesson envirosystems current annual gross revenues are about 14 mln dlrs
encor earlier reported a 1986 net loss of 4066 mln dlrs
call money pressure from large german banks
international research irdvo 3rd qtr payout
anheuser busch companies inc budn has joined several other foreign bidders for sequestered shares of the philippines largest food and beverage maker san miguel corp sanmmn the head of a government panel which controls the shares told 
although the growth looks robust on the surface the figures in reality are not that good he said
a us banker said there is no evidence that chinas foreign exchange reserves have fallen below the officially stated figure of 10 billion dlrs
americans merger with aircal announced last november received final approval from the department of transportation yesterday
brazilian fcoj official welcomes us duty cut
robert halmi rhi gets five mln dlr credit line
brown forman inc bfd 4th qtr net
shr 69 cts vs 39 cts net 1767000 vs 1007000 sales 323 mln vs 292 mln six mths shr 53 cts vs 12 cts net 1348000 vs 319000 sales 622 mln vs 552 mln note full name is diamond crystal salt co
south koreas finance minister chung in yong will visit us treasury secretary james baker next week to discuss us requests for an appreciation of south koreas won against the dollar finance ministry officials said
get a green card if you have to but dont come home without a deal we can all be proud of he said
cooperation between arab states and europe was advantageous for both sides al chalabi said adding he hoped cooperation would ultimately lead to full fledged euro arab dialogue
arvin industries inc said higher interest costs from borrowings to make acquisitions will produce earnings flat with last years 59 cts a share results
predicted revenue in the budget looked sustainable and there appeared to be no holding back on expenditure another economist said
under the terms of the merger sovereign stockholders wil receive in a tax free exchange 01365 of a share of chubb common stock for each share of sovereign held the company said
statoil will head exploration on blocks 7224 7 and 7224 8 sharing the licence with exxon corps xonn norwegian subsidiary esso norge a s the british petroleum co plcs bpl bp petroleum development norway ltd shell norsk hydro and saga petroleum a s sagpol blocks 7219 9 and 7220 7 were awarded to norsk hydro the operator statoil mobil corps mobn mobil exploration norway petrofina sas petbbr norske fina a s and bp
britain angry over what it feels are moves to restrict cable and wireless role in the sector views the issue as a test case
general instrument grl unit gets navy award
the offer it said is also conditioned on the tender of at least two thirds of the outstanding preferred shares
the itc ruled provisionally last june 18 that the domestic industry was being injured by brazilian orange juice imports
last week tvx said the sale which was scheduled to close then had been delayed
allied signal inc said it completed the sale seven businesses in its electronics and instrumentation sector for 18 billion dlrs in cash and in debt assumed by the purchasers
in its annual report to be mailed to stockholders tomorrow the company will announce its first quarter loss will be in excess of 10 mln dlrs primarily as a result of lower than anticipated revenues
it holds 199 pct of borg warners stock
in a second stage of the operation the company will issue 363 mln new 100 franc nominal shares at a price of 120 francs in the ratio of three new shares for 20 existing 10 franc nominal shares
it said each right entitles shareholders to buy one one thousandth of a share of newly authorized preferred at a purchase price of 75 dlrs
bush industries inc bsh 1st qtr net
shr nine cts vs seven cts net 676000 vs 509000 revs 485 mln vs 399 mln 1st half shr 12 cts vs 17 cts net 923000 vs 1248000 revs 941 mln vs 795 mln notecurrent half net includes charge 500000 dlrs from reversal of investment tax credits
the spokesman speaking from strike headquarters in rio de janeiro estimated that 80 ships were strike bound
the hong kong dollar fixed rate market was shut down this afternoon after a 200 mln hk dlr certificate of deposit issue for the chinese state owned bank of communications ltd hong kong branch suddenly surfaced bankers said
bnl officials said the group had also decided to increase its activities in the soviet union by opening a representative office in moscow this month through its subsidiary sogecred which specialises in italian soviet trade
he told a general assembly had passed a proposal splitting 1033 mln shares of 100 francs nominal into around 4132 mln shares of 25 francs nominal
tm communications inc said it has completed the acquisition of radio station knss fm of reno nev for about 2500000 dlrs in cash
the plan outlined by us treasury secretary james baker 18 months ago stalled because commercial banks balked at the idea of lending additional money ongpin said
the upcoming five month deficiency payments to corn and sorghum farmers will be made half in cash and half in generic commodity certificates a senior agriculture department official told 
k mart km march sales show increase
last years calculations of industrial output included all goods irrespective of quality
bankamerica corps bac bank of america unit last week issued 400 mln dlrs of securities backed by credit card receivables via sole manager first boston
monetary sources said alfonsin and camdessus who had not met before mostly discussed argentinas political and economic situation
oil prices would skyrocket for a time if conflict in the gulf closed the strait of hormuz but oil supplies could be adjusted to take care of world demand indonesian energy minister subroto said
the institute forecast that japans exports will gradually rise in the year in volume terms as the dollars fall in the past 18 months is likely to help prop up the us economy
shr loss 12 cts vs loss five cts net loss 347849 vs loss 103489 sales 222697 vs 150534
norwegian central bank reserves fall in may
the issue matures on may 1 2001 and is priced at 30 pct
after completion of the transaction tradevest would own 90 pct of the issued outstanding stock of madeira
ouko said the production of kenyas main cash crops increased during the second half of last year
a source close to the transaction said the purchase prices is being set at more than 55 mln dlrs
imports also fell by 29 pct
the australian government has given support in principle to the production of platinum and silver bullion coins at the perth mint treasurer paul keating said
he added that no one should expect any dramatic developments before march 31 brazil last month suspended interest payments on its 68 billion dlrs debt to commercial banks and froze short term trade and money market lines
six workers were killed and four injured in an undeground rock fall at south africas second largest gold mine today the mine owners said
sampl acquisition raises us 1987 toll to 12
harcourt brace jovanovich inc said it has called a special meeting for july 23 for a vote on an increase in authorized common shares to 100 mln from 50 mln an increase in preferred shares to 150 mln from 2500000 and a provision allowing the payment of preferred dividends in stock or property as well as cash
diamond shamrock dia to redeem debentures
northern states power co nsp votes quarterly
opec wants 18 dlr oil price oapec official
but the repackaging allows them to target a new class of investor for the notes and take the old issues off their books without registering a loss the traders said
its net earnings fell to 200000 us dlrs in 1986 from 522 mln dlrs the previous year
investors will pay for the bond on april 9 and the bond pays annual interest on the same day
one month interbank riyal deposits were quoted today at 6 1 4 six pct
his plea in an interview with and the television news agency visnews came ahead of a state visit he will make to britain later this month
the european community ec has increased the size of two special export tenders for british and west german feed wheat held in intervention stores and included south korea as an acceptable destination traders said
we had a businesslike meeting and made good progress a banker said
union pacific unp in partnership with pdvsa
brown noted the 1986 first quarter net included a 17 cts gain from loan restructurings which will not appear this year
tmoc also holds 25 pct of the jackson to moonie oil pipeline 20 pct owned by santos
moodys said the action recognizes the airlines reorganization under chapter 11 of the bankruptcy code risks associated with its substantial financial leverage and unpredictable cash flow
the traders said they expect very low deliveries of temporao beans in the first three months of the harvest and the bulk will not appear until the last month september
all alterations must be approved by the bundesbank west germanys four major banking associations and the federal banking supervisory office
allwaste alws to acquire service firm
uk bankers consider new ecgd financing plan
but being interested can sometimes be different from making a bid blair said
american meat packers see japan as a promising market
let us wait and see it is mainly the strength of the dollar fall in a very short period which was a little bit of a shock than the level of rates as such schlesinger said
chinas foreign debt is very low given its export capability the size of its economy and its growth potential and the country is politically stable jean maxime leveque chairman of credit lyonnais told reporters
proceeds from the sale will be used to finance capital investment and the promotion of productive investments and exports designed to strengthen the countrys balance of payments the government said
this rumour is baseless
yochum said the company spent 306 mln dlrs of that reserve in 1986 and will spend 344 mln dlrs of the reserves in 1987
an investor group led by members of the bass family of fort worth texas said it lowered its stake in national distillers and chemical corp to 1159400 shares or 36 pct of the total common from 1727200 or 53 pct
ny traders say turkey made large sugar purchase
bruce wilkinson president of the company said the charges to the companys third quarter earnings for the period ending march 31 would significantly impact third quarter results but would not affect the companys cash position
us agriculture undersecretary daniel amstutz said it is possible to reach a global agreement to scale back agricultural supports in calendar 1988
the company said the prospective purchaser forfieted a 500000 dlr deposit it said it is in talks on a new contract
on feb 24 it said it was told the company had decided against a buyout
the country now has foreign debt totalling 278 billion dlrs and faces debt repayments of 36 billion dlrs due between january 1987 and december 1992
economic spotlight chinas foreign debt up
it also agreed the president may waive any retaliation if it would hurt the us economy
the main sources of losses in 1986 were book losses and not cash losses haerri said
esso malaysia reports higher profit in 1986
exports to the us rose 23 pct to 640 mln dlrs and imports fell 267 pct to 840 mln
uk revises retail price index from february
treasury secretary james baker said the united states and other nations were willing to cooperate to stabilize foreign exchange rates at the levels that existed at the time of an international agreement last month
the fully state owned dutch chemical firm nv dsm dsmnas said its 1986 net profit rose to 412 mln guilders from 402 mln in 1985 while turnover fell to 177 billion guilders in 1986 from 241 billion in 1985
bundesbank council member lothar mueller said the bank has not given up its money supply policy and that restraining money supply growth does not always mean pushing up interest rates
plantings were virtually complete across the province and germination was well advanced
att t phone proposal to help profits
owens corning said it sold its interest in sentuc porxpan sa for an undisclosed price
the takeover is contingent on approval from the federal cartel office in west berlin a spokesman said adding that mannesmann was confident the authorities would not block the purchase
the company was commenting in a statement on its 1986 results which on a restated basis showed net attributable profits lower at 245 mln stg after 257 mln the previous year
the japanese will continue to shop for bargains but it will be harder to find ones that are politically acceptable japanese firms are likely to favour joint ventures or smaller equity stakes in firms to avoid the political backlash that blocked the fairchild sale analysts said
instead of liberalising outflows the government has restricted inflows said kate newman an economist with vickers da costa
this compares with a 3607 billion yen profit a year earlier
iraq has an official first half quota of 1466 mln bpd rising to 154 mln in the second half but has refused to adhere to it and has recently been producing around two mln barrels per day exporting it through pipelines to saudi arabia and turkey
the issue will have a mid term bond a bond due in about 10 years and a long term bond
negotiators for the two countries have been meeting for more than a year in an effort to work out an agreement
last time we had a gentlemans agreement the trade did not act as a gentleman said another analyst adding without the need to submit documents the ball will be in the producers hands some feel that importers will take advantage of the voluntary compliance due to development of a two tier market in which non member countries buy coffee at a big discount
a motion is scheduled to be heard on march 16
we are not yet ready to commit the hundreds of millions of dollars it would take for such a project slenniken said
agriculture minister he kang said last month state prices for grain purchase from growers were to be adjusted to increase the incentive for grain production
hungarys net hard currency debt soared to 779 billion dlrs last year from 501 billion in 1985 partly because of a current account deficit of 142 billion dlrs and partly because the fall in the dollar increased the dollar value of debt denominated in marks or yen
the bank earlier reported first quarter profit fell to 1141 mln dlrs from 1404 mln dlrs a year ago
the company said sales for the first six months of the year were 2420 mln dlrs more than 15 pct above the 2101 mln dlrs reported in the same period last year
as speculators detected the presence of the us and british central banks they acclerated their shift into canadian and australian dollars
shr 45 cts vs 61 cts net 504000 vs 683000 nine mths shr 183 dlrs vs 242 dlrs net 2043000 vs 2183000
last years results include a 69 cent charge for the buyback of debt
toyota motor credit issues 23 billion yen bond
despite the improvement in order rates and operating results year to year pricing continues to be aggressive for many products it said
german february central bank money grows annual 75 pct january same prov
but plans to link the six currencies in a european monetary system style with a common peg have been discussed at high level and could be a topic on the gccs annual summit expected to be held in saudi arabia late in the year
the new forecast is still higher than last seasons record total production
gruntal financial gru 2nd qtr feb 27 net
horizon said its board and financial advisers consider the offer to be fair and reasonable and the board will unanimously recommend acceptance to its shareholders
i think theres a strong sentiment here that some industries are not totally up for grabs the paper quoted the official as saying
bankers see good reception of bp credit facility
in other action jacobsons directors approved an increase in its quarterly dividend to 11 cts on a post split basis payable april 14 record march 30
the diw and ifo said rises in employment would occur only in the tertiary sector while the number employed in the manufacturing industry will decline the diw and ifo said unemployment would only decline to 220 mln in 1987 from 223 mln in 1986
bank of england to monitor when issued trading
the loan which has a may 1 coupon and paydate will go towards the governments financing of an estimated 1987 borrowing requirement of about 42 billion guilders
bear stearns handled the trade
the shearson official said that virtually all buyers of the first tranche received less than they wanted
on dec
they the ec commission will be keeping a low profile one trader said
the other dealer is swiss bank corp international ltd and morgan guaranty trust co of new york is issuing and paying agent
all the information that has been given out publicly is that yes dominion textile is interested in making an acquisition that big probably based on that people are starting all sorts of rumors he said
thai zinc ingot exports fell to 882 tonnes in march from 1764 in february and 3008 in march 1986 the mineral resources department said
allegheny ludlum corp initial public offering of 5165000 shares of common stock including 765000 by current holders at an estimated 21 to 24 dlrs a share through goldman sachs and co
after brazil imposed a moratorium on interest payments on 68 billion dlrs worth of debt in february brazilian finance minister dilson funaro sought to involve foreign governments in rescheduling talks with banks
a survey found opec production in early march was 147 mln bpd
cochran a staunch supporter of a soybean marketing loan would support a soybean loan of 502 or 477 dlrs with a certificate buydown graves said
phelps dodge continues to lower its cost of producing copper the executives said
dealers said a rise in call money gives the mark a firmer undertone contributing to downward pressure on the dollar
there appears to be no way to project the course of el nino only time will tell the report said
pete domenici a new mexico republican said
thai banks weigh new interest rate cut
jopling also criticized a recent proposal still under consideration by the ec for a tax on vegetable and fish oils
however hawkeye with assets of 109 billion dlrs at 1986 year end said it expects to have sufficient cash to meet its obligations for the next 12 month period last july the bank holding company reached a debt restructuring agreement which identifed 17 bank subsidiaries and five non bank operations for disposition
qtr ended jan 31 shr 116 dlrs vs 115 dlrs net 324 mln vs 335 mln revs 6290 mln vs 5386 mln avg shrs 321 mln vs 292 mln 12 mths shr 235 dlrs vs 229 dlrs net 745 mln vs 669 mln revs 185 billion vs 160 billion avg shrs 317 mln vs 292 mln note shr avg shrs data show 2 for 1 split in nov
both redstones proposal and the management proposal would create a restructured company heavily leveraged with debt
the gazetted price for ppo rose to 8196600 ringgit per tonne from 7968604 a month earlier and that on cpo to 7110037 ringgit from 6178238
they said this index continued to show the current recession is shallow and is more likely to involve a slowing in real growth than an absolute fall in economic activity
international proteins said its agreement with hanson trust is subject to stockholder approval at the annual meeting which is expected to be held in june
shr 51 cts vs 44 cts net 4710000 vs 4086000 sales 1092 mln vs 982 mln nine mths shr 162 dlrs vs 139 dlrs net 150 mln vs 136 mln sales 3146 mln vs 2797 mln
shr 66 cts vs 67 cts net 48700000 vs 49300000 sales 9610 mln vs 8706 mln avg shrs 74123837 vs 73374398
shr 23 cts vs 34 cts net 2091000 vs 3053000 revs 2035 mln vs 2157 mln avg shrs 8967719 vs 8863945 1st half shr 40 cts vs 69 cts net 3616000 vs 6111000 revs 4118 mln vs 4181 mln avg shrs 8958100 vs 8850656
societe generale is issuing a 15 billion yen bond due april 21 1992 carrying a coupon of 4 1 2 pct for the first four years and priced at 102 mitsui trust international ltd said as joint book runner
moto photo moto sees better 1st quarter 1987
tultex corp ttx 1st qtr feb 28
vms mortgage investors vmtgz raises payout
we cannot remain indifferent to the pressure of creditor banks since there is correlation between political stability and the economic situation weizsaecker told reporters
krenzler said early planted stands in the north central and southwestern parts of the state are probably most vulnerable
us chipmakers urge sanctions against japan
the non callable bonds will be issued in denominations of one mln yen and will be listed in luxembourg
average reserve replacement costs were 828 dlrs per barrel of oil equivalent during the past three year period representing a little more than half of the industry average the company said
in the second week they ran a deficit on thursday friday and monday but held excess reserves on the final two days
both loans will be used for development the spokesman told 
saint gobain us subsidiary seeks 150 mln dlr five year facility arranger chemical
the department said exporters also reported corn sales of 143000 tonnes for delivery to taiwan with 56000 tonnes for shipment in the 1986 87 season and the balance for shipment in the 1987 88 year
fidelity national financial inc fnf 1st qtr
donald trump and interstate properties said they were holding preliminary discussions regarding a possible joint acquisition of alexanders inc at 47 dlrs per share
last month theodore cross offered to acquire harper and row for 34 dlrs per share but was soon outbid by harcourt brace jovanovich inc which offered 50 dlrs per share
he said three port workers had died over the last month in accidents
programs and procedures need to be simplified streamlined and internally consistent he said
dealers said funds tied up in foreign assets had flowed into local bond and stock markets as well
china and the european community ec signed an agreement on the establishment of an ec office here
it estimated the shortage at around 155 billion stg one adverse factor being the unwinding of a sale and repurchase agreement with the market having to buy back bills worth 542 mln stg from the bank
is that it i was expecting something more than that said one trader at a major wall street securities company
the estimate for 1986 sugar production was unchanged from last month at 748472 tonnes raw value the chamber said
renouf has 934 pct of benequity bh units
morgan guaranty the trustee under the indenture said metromedias liquidation constituted an event of default
the following proposed securities offerings were filed recently with the securities and exchange commission first interstate bancorp i shelf offering of up to 112 mln dlrs of debt securities including notes and debentures on terms to be determined at the time of the sale
the purpose of the measures passed by the committee yesterday is to improve stockpile management and discourage sell offs of materials that could jeopardize strategic needs a staff member of the committee told 
gencorp also said its board is carefully studying the offer and will make a decision on whether or not shareholders should accept or reject it by march 31
the gold has to be extracted and first someone has to come up with the money to finance the operation the official who asked not to be named told
in december inventories fell a revised 34 billion dlrs or 06 pct to 58665 billion dlrs
the company said it obtained financing from a syndicate of major banks for 150 mln dlrs
the fed has been standing pat for the last seven months ramirez said
goodman fielder ltd an australian food products and supermarket firm is planning a 100 mln us dlr multi option note issuance facility lead manager bt asia ltd said
the bills replace maturing paper worth 23442 billion lire of which 20321 billion lire is in the hands of market operators and the remainder with the bank of italy
high producing corn belt states are expected to show the greatest acreage reductions based upon historical participation in government programs analysts said
the company said the property is estimated to contain over 500000 troy ounces of gold and the initial mining project covers only seven of 192 claims with drill indicated reserves of 293000 short tons grading 088 troy ounce of gold per ton
seasonally adjusted figures issued by the central statistical office cso show the current account was in deficit by 760 mln stg against an upwardly revised third quarter shortfall of 930 mln
bp chairman sir peter walters will be chairman of bp america while robert horton is to be vice chairman and chief executive officer with frank mosier as president
he said 1986 profits surged mainly after acquisitions and reorganisations aimed at reducing costs and solving operational problems such as unsatisfactory management in the firms stationary office equipment and leisure articles division
nippon signal co ltd is planning to issue 50 mln swiss franc notes with warrants lead manager morgan stanley and co inc said
they also pointed to yesterdays treasury note tender where the 400 mln dlrs of 13 week notes went at an average yield of 15473 pct down from 15870 last week
they continued the process of multilateral surveillance of their economies pursuant to the arrangements for strengthened economic policy coordination agreed at the 1986 tokyo summit of their heads of state or government
the salvage measures which include a government sponsored rationalisation program are aimed at clawing back some of the market which japan the world leader has lost to south korea through currency and labour cost disadvantages they said
one analyst said he believes it has a breakup value of 160 to 165 dlrs per share
but fuller as well as other analysts expected the report to be less negative on deferred futures contracts
the economists comments were echoed by treasurer paul keating in a statement issued in canberra
no other market can handle all that stock said lf rothschild analyst rosario ilacqua
shr 50 cts net 2751000 vs 2094000 nine mths net 6993000 vs 5577000 assets 6031 mln vs 5043 mln loans 4485 mln vs 3581 mln deposits 4679 mln vs 4477 mln note per share figures for 1986 and 1987 nine mths not available as bank converted to stock form of company in april 1987
inspiration said the project has proven reserves of 538000 tons assayed at 0212 ounce of gold per ton probable reserves of 686000 tons at 0166 ounce and possible reserves of 355000 tons at 0183 ounce
allied legal advisor and director george kern who heads the merger and acquisitions group at the new york law firm of sullivan and cromwell decided against amending allieds sec filing to disclose the talks even though they had resulted in sales price of 405 mln dlrs for the shopping centers it said
international trade and industry minister hajime tamura told a parliamentary session japans small and medium sized enterprises are seriously suffering from the yens rise and can only stand levels around 170 yen
the indian council said it hoped indias exports to australia would improve in the next few months and reduce the trade balance which is heavily in australias favour
another regular poll is due tomorrow and eonomists warn that todays improved sentiment could be dented if support for prime minister margaret thatcher slips again
midland mla sets stock split
leucadia national corp luk 4th qtr net
allisons place inc alls 4th qtr net
nynex nyn urges justice dept
he told a news conference the market continues to be stable despite all the military action in the gulf
managers are irving trust co toyo trust and banking co ltd and standard chartered bank
a 75 mln stg revolving credit contained in a 100 mln stg multiple facility for argyll group plc has been oversubscribed in syndication and the borrower is considering an increase banking sources said
the company said it also expects to spend 60 mln dlrs on its oil and gas activities this year adding internally generated funds are expected to provide 85 pct of this total
brown forman said the split of its class a and class b common shares would be effective march 13
the lenders are mitsubishi bank ltd and one other japanese financial institution which the spokesman declined to name
southeast banking corp stb declares qtly div
the program will add 600 mln pounds per year to usis existing capacity of 32 billion pounds the company said
royal dutch rd unit to raise heavy fuel prices
robin kline a dietitian and director of consumer affairs for the nppc said he was not surprised at the wide discrepancy between the study and the usda handbook
the london metal exchanges lme decision to introduce a dollar denominated aluminium contract with the port of singapore listed as a delivery point is a positive move physical traders and lme dealers said
the market feels it can take on the central banks and win said michael snow head of treasury operations at union bank of switzerland in new york
however diplomats said it was clear from todays discussions that such meetings will be difficult
stock market analysts said todays generally weak stock market plus unwinding of positions after heavy buying of bat shares in the run up to the results caused the fall in the share price
qtrly div 96 cts vs 90 cts pay may one 1987 record march 31 1987
the iranian news agency irna quoted him as saying before leaving tripoli that opec should do everything possible to make oil prices permanently stable
he was unable to confirm the tonnages involved
he estimated that by 1990 icis pharmaceutical division would account for about 30 pct of total company profits
us tariffs are due to take effect on april 17
adebayo adedeji the executive secretary of the un economic commission for africa told the meeting that there was an increasing net outflow of resources from africa
the us agriculture department forecast australias 1986 87 wheat crop at 1670 mln tonnes vs 1730 mln tonnes last month
orange co inc oj 2nd qtr feb 28 net
flyer force intends to expand distribution of the newspapers to begin improved service to the winnipeg market southam said
peviously lynch would have held about 25 pct with becor holders receiving 25 pct and becor management about half
us health inc ushi 2nd qtr jan 31 net
in a move which the market interpreted as a possible gesture of reconciliation the bundesbank added short term liquidity to the west german money market at 380 pct on monday down from the 385 pct level at which it injected medium term liquidity last week
earlier today general partners owned by wagner and brown and afg industries inc launched a 100 dlr per share tender offer for gencorp
for export it rose eight to 108 per tonne from bahia blanca increased 050 to 104 at necochea and was unchanged at rosario at 10830
growth in goods exports will slow to 175 pct in 1987 from 21 pct in 1986 but pick up slightly to 25 pct in 1988
showers improved irrigation supplies in southern india reversing februarys below normal trend
machinea said brasil did not suspend payments because it wanted to but because it lacked reserves
kuwait has asked at least four countries including the united states soviet union britain and china for temporary use of their flags or tankers to protect kuwaiti oil shipments in the troubled persian gulf reagan administration officials said
the indexs first quarter average also was 539 pct translating into real gnp growth of about three pct if continued through 1987
under the agreement dated april 28 vr business agreed to sell 5008120 shares of common stock and 11846 shares of 10 pct cumulative stock
the report sees ec imports falling to 917 mln tonnes in 2000 from 1236 mln in 1985 with japanese imports falling to 89 mln from 1246 mln tonnes
fees comprise 1 1 4 pct selling concession and 5 8 pct for management and underwriting combined
a leading us banker said the dollar was likely to fall another five to 10 pct this year and an improvement in the huge american trade deficit would be only temporary at current world exchange rate levels
its an investment and were very happy with it
there is no reason to believe the paris pact has broken down a senior dealer said
the resulting association will operate under the name of charter and will be based in bristol
but trade union leaders served immediate notice they would push to protect the purchasing power of their members raising the spectre of a vicious spiral of wage and price rises
also a windfall tax credit and lower than expected currency losses had added about 100 mln stg onto fourth quarter results which was the main reason for the figures exceeding forecasts industry analyst chris rowland of barclays de zoete wedd noted
with the addition of welbac customers centel cable television co of michigan serves more than 83000 customers
shr 14 cts vs seven cts net 348000 vs 135000 revs 6328000 vs 4117000 avg shrs 2558400 vs 1884200 nine mths shr 29 cts vs 20 cts net 640000 vs 313000 revs 120 mln vs 8719000 avg shrs 2226600 vs 15896000
multi family starts rose 29 pct in september to a seasonally adjusted 501000 units after a 70 pct increase in august the department said
use of physical gold should rise this year due to increased industrial demand and higher expected coin production the bank said
the company responded that the proposal would be submitted to the board of directors but that no decisions have yet been made on a sale of the company
but exporting grain requires heavy investments and the multi million dollar loss posted six years ago by farmers export co a co op set up to export grains served to make folks gun shy hanes said
the suspension of ecuadors crude oil shipments after an earthquake cut an oil pipeline will last at least four months a senior energy ministry official said
shr profit five cts vs loss 16 cts net profit 689000 vs loss 1910000 revs 123 mln vs 9432000 note 1987 net includes 276000 dlr tax credit
bank of japan intervenes just after tokyo opening
it said the transcanada bid seems to require favourable and substantial taxation concessions from the federal and provincial governments but dome added that its management and financial advisers will evaluate all proposals
the united states is really the odd man out abegglen said
qtly div six cts vs six cts prior pay april 23 record april nine
in a filing with the securities and exchange commission robertson and his tiger jaguar puma and tiger management co entities said they bought 51600 capital wire common shares between feb 3 and 17 at 1325 dlrs a share
brazils economic plan may permit new debt talks
savings from lower oil and commodity prices were eaten up by price competition and increased costs
output at both sites has been shut down since the production and maintenance workers along with about 600 office and technical workers went on strike may 9
he told reporters yesterday the deposits located at four sites near the town of san ignasio contained the equivalent of 100 tonnes of gold
arrivillaga said the government could solve most of its financing problems by devising effective instruments to compensate landowners
brierley bids 435 dollars share for progressive
describing this as a major departure in the companys approach to commercial development he told the annual new business forum of the commercial development association we are looking to acquisitions and joint ventures when they look like the fastest and most promising routes to the growth markets weve identified not very long ago union carbide had the attitude that if we couldnt do it ourselves it wasnt worth doing
hong kong firm ups calmat czm stake to 12 pct
cpt corp cptco 1st qtr sept 30 loss
burlington industries inc is raising 75 mln dlrs through an offering of convertible subordinated debentures due 2012 with a 6 1 4 pct coupon and par pricing said lead manager kidder peabody and co inc
fundamental brokers institutional associates a leading inter dealer broker in us government securities said it has agreed to acquire certain assets of mki government brokers inc for undisclosed terms
dh holmes co ltd hlme 4th qtr net
the issues will be dated and delivered on april 1
the fed order said chase manhattans application was consistent with sound banking practices and existing laws
companys full name is groupe bruxelles lambert sa lambbr proposed net final dividend on ordinary shares 70 francs vs 65 to take total net payment for year to 120 francs vs 110
were pleased and they are pleased that we are pleased one said
us bank discount borrowings average 233 mln dlrs a day in march 4 week fed says
the facility will be made up of two components
london metal exchange lme prices are unusually buoyant at a time of year when seasonal demand is normally slackening and prices tending to drift lower
a senior british official said that protectionist bills being considered by congress could trigger retaliation by the european community eec and threaten the global trading system
home federal savings bank of georgia hfgao 
the production probably is about their quota level and largely because saudi arabia will not discount and canot sell its oil as a result margoshes said
in keeping with the spirit of the september agreement he said all countries from the organization of economic cooperation and development have continued to provide export credit facilities for mexico despite the debt restructuring
pioneer recommended in a statement that shareholders retain their stock pending the boards response once it receives full details of the csr offer
world supply demand estimates issued by usda
the finance minister made the remark at a news conference which followed a morning cabinet meeting
international central banks have been at pains to prevent a dollar fall against major currencies including the mark
the french sales mark the beginning of commercial ec corn exports which could reach 750000 tonnes to north africa and the middle east areas which have traditionally purchased their corn needs from the united states the department said
taiwans central bank is considering proposals to ease currency restrictions to reduce foreign exchange reserves of 51 billion us dlrs a local newspaper reported today
they said even if gaf raises its offer and does not succeed a higher bid from another company would give gaf millions of dollars in profits on its stock
after the venezuelan deal was clinched leading new york bankers hurried to argue that 7 8 pct was the new benchmark spread for a debtor nation that was current on interest was not seeking new money and was amortizing loan principal
the loan will pay 1 8 point over london interbank offered rates libor throughout the whole of its life
in the first two months of the year imports excluding oil and wheat totalled 18 billion dlrs against 147 billion in the same 1986 period
standard oil co said the friendswood development number one well in the fostoria or deep wilcox field of montgomery county texas flowed 4500000 cubic feet of natural gas per day from depths of 14252 to 14486 feet through a 14 64 inch choke
the administration officials said commerce department monitors showed that japan was ending its dumping of the semiconductors in third countries where they had been taking sales away from american made semiconductors
oct 3 end shr 40 cts vs 35 cts net 3149000 vs 2433000 revs 2254 mln vs 2259 mln avg shrs 7800000 vs 7157143 nine months shr 91 cts vs 63 cts net 7114000 vs 4540000 revs 747 mln vs 7282 mln avg shrs 7800000 vs 6767143
from 1981 to 1985 its losses totaled 87 mln canadian dlrs
that change was made after s and ps initial rating release on february 20 it noted
it said europharmaceutical plans to soon file with the fda to market the condom but expects the approval process to be a lengthy one
the prime rates were raised to 7 3 4 from 7 1 2 pct and the timing of the moves puzzled many dealers
financial corp of santa barbara said it has signed a definitive agreement to purchase stanwell financial the lending operations unit of mortgage banking company stanwell mortgage for undisclosed terms
shr loss nine cts loss 12 cts net loss 585866 vs loss 455866 avg shrs 6841638 vs 3651505 year shr loss 34 cts vs loss 54 cts net loss 2158709 vs loss 1931397 avg shrs 6296701 vs 3586914 note company has no revs as it is in product development stage
he said britain west germany the netherlands and denmark continue to oppose the tax after the commission proposed making it temporary and promising compensation to any third countries whose exports suffered
the inflation rate will probably stabilise at around five pct during the projection period as a result of a turnaround in import prices particularly oil an acceleration in labour costs and the effects of domestic demand pressure the report said
but others believe the company could very well of considered the option of spinning out part of shearson and one rumor suggests selling about 20 pct of it in the market
they pointed out that 52 pct of madagascars coffee bushes were planted before 1930
api noted the drop in crude oil output coupled with a drop in natural gas liquids production which was off 11 pct from february 1986 levels represented a decline in us production of more than one mln barrels a day
year ended march 31 1987 fin div 925p making 12p vs 1074p shr 283p vs 275p pretax profit 5563 mln stg vs 4936 mln net 3880 mln vs 3364 mln turnover 44410 mln vs 30985 mln net interest payable 350 mln vs 379 mln profit share of related companies 762 mln vs 964 mln note the de la rue co
bonus wheat flour for north yemen usda
shr three cts vs three cts net 421000 vs 333000 revs 2103000 vs 2287000 avg shrs 16068000 vs 12041000
petroleum and resources corp peo dividend
the rights will be exercisable 10 days after a person or group buys 20 pct of the companys common or announces or commences a tender offer that would result in acquisition of 30 pct or more of its common
chinas grain exports in january totaled 386157 tonnes down 221 pct from january 1986 customs figures show
however volcker said there are encouraging signs particularly the rising volume of exports over the past year achieved despite relatively slow growth abroad
shr 11 cts vs 22 cts qtly div 10 cts vs 10 cts prior net 548254 vs 1138978 revs 28 mln vs 311 mln year shr 50 cts vs 134 dlrs net 2527846 vs 6822293 revs 1117 mln vs 1189 mln note qtly div payable december 4 to shareholders of record november 13
under the agreement rhone poulenc will supply magnetic tape and media products to brown disc products
the officials said the commission is not negotiating with producers who have offered a total of 854000 tonnes of sugar for sale into intervention in an apparent attempt to persuade it to offer higher rebates
utilicorp said the proposal to create a new class of stock if approved will authorize 20 mln shares of class a common stock with a par value of one dlr
japanese agencies were shocked by the earlier aaa ratings on the claims paying ability of sumitomo life insurance co and dai ichi mutual life insurance co by standard and poors the first ratings given to japanese life insurers
in the financial year to end february 1987 capital recorded pre tax profits of 37 mln dlrs on a turnover of 58 mln dlrs from the sale of 421 homes
sierra pacific resources inc srp dividend
the world bank african development bank european community canada belgium west germany britain sweden italy and denmark had contributed to the package he said
dieter said mannesmanns pipe activities would suffer a set back although measures to cut costs which were started last year were now having an effect
sendi also told reporters he had negotiated a 697 mln french franc loan from the banque industrielle dafrique oriental in paris
a further special session of the international tin council itc held here tomorrow march 24 will give member countries an update on the latest debate over the hundreds of millions of sterling lost when its buffer stock price support scheme failed in october 1985 delegates said
the consolidation is expected to be complete by june one and the company said it is now focusing on restructuring its balance sheet
ayala told an oil seminar the project due for completion in 1988 is aimed at improving distribution of oil products in the domestic market mainly along the pacific coast
its 1987 consumption forecast of 1301 mln tonnes is 04 pct down on 1986 while production is forecast six pct higher in 1987 at 1267 mln tonnes
scicom data scieo 1st qtr sept 30 net
corrects name to subsidiary from parent
murphy oil mur to acquire canadian subsidiary
portugal may have purchased us corn
primary shr 68 cts vs 65 cts diluted shr 62 cts vs 60 cts net 6053000 vs 5803000 revs 1014 mln vs 948 mln primary avg shrs 8955000 vs 8963000 diluted avg shrs 11031000 vs 11010000 nine months primary shr 174 dlrs vs 183 dlrs diluted shr 164 dlrs vs 169 dlrs net 156 mln vs 163 mln revs 2914 mln vs 2667 mln primary avg shrs 8974000 vs 8936000 diluted avg shrs 11053000 vs 10994000 note 1986 third qtr results exclude extraordinary 811000 dlr gain from termination of a pension plan
if the regulation is not extended beyond its april 3 expiry date many commercial banks will have to reduce foreign exchange holdings to a maximum 20 pct
the bond will be available in denominations of 1000 and 10000 ecu and will be listed in luxembourg
group shr 1356 yen vs 2706 net 2161 billion vs 3893 billion current 3766 billion vs 4670 billion operating 5737 billion vs 7991 billion sales 1789 billion vs 1692 billion
colonial bancgroup clbga buys destin bank
it has about 1200 employees
bilzerian may seek control of pay n pak pnp 
it seems the subversion wants to end with our oil bonanza he told reporters
subsequently it sold almost all its domestic oil and natural gas properties and retired all us bank debt in march 1987 with part of the proceeds
unocal ucl plans increase in capital spending
servicemaster lp approved a second quarter cash distribution of 58 cts payable april 10 record march 23
interconnect said it made the offer to the board of directors of gates learjet on march 9
based particularly on the feds reserve management actions on friday and today nathan of wells fargo said it has become clear that the fed is not fully resisting upward rate pressure in the market
in particular uncertainty about greenspans attitude to the dollar could undermine sentiment toward the us currency analysts said
first quarter exports rose to 1125 billion us dlrs from 838 billion in the same period in 1986
from this point of view the tax reform planned for 1990 should be brought forward the government plans gross tax reductions of 44 billion marks as part of the major tax reform
the package should save jamaica about 33 mln dlrs a year
the exporters said the key factor in the eventual opening of may and june export registrations will be the amount at which the contribution quota is set
shr profit six cts vs profit 17 cts net profit 269000 vs profit 833000 revs 280 mln vs 308 mln nine mths shr loss 416 dlrs vs profit 74 cts net loss 200 mln vs profit 3543000 revs 931 mln vs 1177 mln note current qtr net includes writedown of 204 mln dlrs of net investment in companys oil and gas properties
nabisco is 80 pct owned by rjr nabisco inc rjr
the airlines argued that westerns promise could not be enforced in a takeover by a larger company
qtly div 5 1 2 cts vs 5 1 2 cts prior pay april 16 record april six
major local banks ventured into stockbroking after being granted seats on the stock exchange
energy factors inc said it has signed an agreement to acquire gwf power systems co and combustion power co inc from allied signal inc for undisclosed terms
while agreeing with the banks commitment to defend the guilder strongly some bankers want the bank to make more use of the range within which the guilder and the mark can fluctuate against each other in the european monetary system ems roelof nelissen chairman of amsterdam rotterdam bank nv amro said the central banks policy was overcautious
japans huge trade surplus is a sore point in west europe as it is in the united states
in 1986 diamond shamrock reported a loss of 1156 mln dlrs on total revenues of 2543 billion dlrs
no changes have been made or are being planned in the agriculture departments calculation of price differentials between interior grain locations and the texas gulf a senior usda official said
bumper harvests had reduced rural inflation and urban prices had already reflected the nairas black market value before the currency was allowed to find its true level last september
commenting on an 11 pct growth in 1986 group turnover to 8304 mln stg and pre tax profits at 1208 mln stg slightly below 1985s 1213 mln egan said jaguar aimed at an average profit growth of 15 pct per year
of course it will take the dollar into account in future policy decisions but if the economy is weak it wont pull back from easing
dixons won control of cyclops with a 95 dlr a share tender offer
two people were killed in an explosion and fire in a flare line at the grangemouth refinery on march 13 but the spokesman said this incident was some 100 yards from the latest accident
the report covering transactions in the week june 11 the additional corn resulted from changes in destinations
m 3 is the main money supply aggregate used by the french monetary authorities
this is when traditionally there is more demand for gasoline rich crudes such as nigerias
the epidemic first engulfed the villages and has now also firmly settled into cities where the availability of natural gas running water and privacy has made it much easier kremlin leader mikhail gorbachev launched the anti alcohol campaign shortly after taking office in march 1985 as a first step to improving soviet economic performance which had been seriously hurt by drunkenness among the working population
in a filing with the securities and exchange commission shearson said it bought the stake for 188 mln dlrs for investment purposes and has no intention of seeking control of the company
inland vacuum inc said is board proposed a two for one stock split payable to shareholders of record april 30
the bond equivalent yield on three month bills was 617 pct
iowa beef mailed a letter to members of ufcw local 222 informing them a lockout imposed by the company december 14 would be lifted and meatpackers could return to work under iowa beefs revised last and best final offer zack said
another 400 billion yen will yield 37991 pct in a 20 day repurchase pact maturing on april 28 they said
the proposal will go to parliament for final approval
the accord stipulated that current rates reflect fundamentals of the six nations britain canada france japan the us and west germany
male unemployment in february remained at 29 pct equal to the second highest level set in january and december
the dollar was also aided by japans moves to dampen speculative selling in tokyo and by reports of active central bank intervention to support the dollar
duties on chocolate were cut to 20 pct from 319 pct in april 1983
as part of the agreement blue arrow said the four principal shareholders who manage richards will enter into long term service contracts with it
the requirement is not expected to affect the number of mexican steers imported into the united states and the brand will be applied before the animals arrive at us ports of entry
amoco an in natural gas find off trinidad
he said hitting the platforms had spared iran the embarrassment of casualties on its own soil possibly avoiding an escalating spiral of attack and counterattack
the us will pursue its complaint that european governments unfairly subsidise the airbus industrie aircraft consortium in proceedings at the gatt civil aircraft committee a gatt spokesman said today
the united states controls 345 pct of the vote and wants a loan veto to exist at the 35 pct level
white house unit decides on semiconductors
the snyder owners other than painwebber are geodynes president michael w
peschs first offer for american medical was made without an investment banking firm another cause for concern to wall street
nowak said that based on an average oil price of 17 dlrs a barrel in 1987 the company should earn about 450 dlrs a share
liberty shareholders will receive about 48 dlrs per share uopn the merger the company said
1986 net both periods excludes charge 9400000 dlrs for estimated settlement and expenses connected with chapter 11 bankruptcy
results restated for discontinued operations
officials said that wording represented a compromise
the 140 mln franc issue comprised 70000 bonds of 2000 franc nominal value each
indonesia the only asian member of opec and a leading primary commodity producer has been severely hit by last years fall in world oil prices which forced it to devalue its currency by 31 pct in september
while the disruptive effects of the production line changes had occurred in line with expectations anchor glass said first quarter operating results were helped by lower than anticipated operating costs and improved margins on sales as a result of a more favorable product mix
the white house economic policy council would consider the sale in the coming weeks they said
calny clny rejects pepsico acquisition offer
he also expressed concern that the combined companies might be required by the governments conditions to license some of its technology to any purchaser of the assets
group boosts gelco gel stake to 82 pct
it further stated that the tender offer expires on july eight unless extended
the report said the regions improved economic growth last year was based on a rise in internal demand and fuller utilization of previously underused production capacity
it said the feasibility study calls for gold production averaging 41000 ounces a year for the life of the mine and 50000 ounces a year over the first three years with 99000 ounces of silver per year being produced over the mine life
shr 12 cts vs six cts net 398318 vs 211801 sales 7385107 vs 7275162 six mths shr 22 cts vs 13 cts net 736219 vs 446288 sales 143 mln vs 142 mln note per share earnings adjusted for ten pct stock dividend paid february 1987
treasurys baker says he stands by paris pact
turkish bank seeks 20 mln dlr loan
if they decide to exercise their right to buy it would mean really squeezing the market one new york trader said noting that aluminum stocks on the london metal exchange were 90500 tonnes at the end of last week
in mid february piedmont said its board would meet to discuss all proposals to acquire the company
japanese corporations have been actively setting up their financing companies in london suggesting they increasingly are engaging in not only fund raising but management there dezuka said
rjr nabisco said the expenses covered on after tax basis include 50 mln dlrs for the write down of redundant equipment and facilities resulting from modernization of its us tobacco operations 79 mln dlrs for continuing restruction of its food subsidiaries and 80 mln dlrs in connection with the early retirement of high coupon debt
main destinations were saudi arabia with 158109 tonnes of barley the soviet union 147214 of wheat italy 104704 of wheat spain 91381 of wheat and maize china 52500 of wheat and algeria 41000 of wheat
sg warburg and co ltd is arranger for the financing the bankers said
the bond is available in denominations of 1000 and 10000 dlrs and be listed in luxembourg
endata inc datao 1st qtr net
japan february reserves record 5173 billion dlrs
plum holding inc starts hoilly sugar hly bid
the fire destroyed five giant tanks and threatened four others the shell spokesman said
saudi arabia reiterates commitment to opec pact
microbio mrc plans acquisition financing
mexico signs 77 billion dlr loan agreement
shr 20 ct vs 27 cts net 1048000 vs 1368000 revs 9457000 vs 5386000 note dollar amounts converted from irish pounds at noon buying rate of the federal reserve bank of new york at dec 31 1986 of 14105 dlr per one irish pound
it was not a wonderful sales quarter but it only represents 14 pct of the years total results stanley said
there was no specific requirement on shipping period
glynwed international plc glynl 1986 year
philadelphia electric pe sells mortgage bonds
painewebber group inc pwg 3rd qtr net
uk producer prices seen moved by technicalities
net 123 mln vs 6438000 note company went public in march
the company said if the merger agreement is terminated under certain circumstasnces it will be entitled to receive 20 mln dlrs in damages from chemlawn
china welcomes us court bond decision
three london markets which trade potato soymeal and meat futures said they will merge to form a new agricultural futures exchange
japan should increase foreign access to its farm products market while encouraging further development of domestic agriculture a government report said
the ministry said updated forecasts would be prepared before the autumn to serve as the basis for the 1988 budget which the government is now preparing for presentation in september
the acquisition will be satisfied by an initial payment of some 253 mln dlrs in cash with further payments of 500000 dlrs up to a maximum 263 mln dlrs
the bundesbank has also ruled out a quick cut in official interest rates although it sees market rates continuing low
the white house welcomed the february retail sales figures showing a 41 pct rise following a slow performance in january
dnc international finance as is issuing a 10 billion yen eurobond due april 7 1994 with a five pct coupon and priced at 102 3 8 pct yamaichi international europe ltd said as joint book runner with tokai international ltd
in the interview eyskens made clear he was hoping for a wide ranging discussion on the future of the eight year old ems on the basis of proposals for bolstering it drawn up by the ecs monetary committee and the committee of central bank governors
wor tv is based in secaucus nj gencorp said
valero vlo preferred stock upgraded by s p
cole who has been chairman of sears roebuck and co incs s coldwell banker residential affiliates inc unit
us officials said this weeks talks are unlikely to delay imposition of tariffs
drexel official has stake in epsilon data epsi 
shr loss 30 cts vs profit 12 cts net loss 2374000 vs profit 970000 revs 157 mln vs 134 mln year shr loss 13 cts vs profit 46 cts net loss 1054000 vs profit 3425000 revs 618 mln vs 499 mln note full name safeguard health enterprises inc
last summer the administration took the controversial step of offering the soviets subsidized wheat but were embarrassed when moscow spurned the proposal on the grounds that the 15 dlr per tonne subsidy still left us wheat prices far above world market prices
bank of montreal said it will reduce the interest rate it charges on outstanding mastercard balances to 183 pct from 21 pct beginning in july
the bond can be called at par on april 15 1995 or 1996
the real issue is the rescheduling of debt terms
migrant workers from surrounding countries make up more than half of the labour force in the mines
theyre the real winners from the agreement
he told a news conference the company expected costs for its first 10 all suite hotels announced today to be about 150 mln dlrs
dividend eight pct or 160 guilders per ordinary share vs same and five pct vs same for priority and preferential shares
toronto dominion bank nassau branch has increased its eurobond offering to 50 mln australian dlrs from 40 mln lead manager hambros bank ltd said
bank of spain suspends assistance drains funds
the note is accompanied by 90000 warrants priced at 220 francs exercisable for five years into an 825 pct 10 year non callable bond
at september 30 the provision for loan losses jumped to 130 billion dlrs from 455 mln at the same time last year
french 13 week t bill average rate falls to 737 pct from 746 pct official
moscow produced 210 mln tonnes in 1986
parent payment to disclosed reserves 20 mln vs 15 mln
gulf said it sold its remaining stake in imperial of 6631222 shares and 100000 units of loan stock for 748 mln dlrs based on an exchange rate of one pound sterling at 158 dlr
a shift of savings into long term assets would dampen monetary expansion and foster a stable rise of the money supply he said
it is now seen as essential that any pacts involving direct market participation through a buffer stock have a high degree of transparency and do not contain the risk of open ended borrowing that occurred in the tin pact they said
shr 53 cts vs 48 cts net 873000 vs 773000 sales 195 mln vs 200 mln
at the gatt negotiators meeting next week canada is expected to offer a proposal as well as the ec
turkey eligible for us bonus rice
the company which last paid a quarterly common dividend of 22 cts a share in december said it will consider future dividend payments on the basis of improved profitability and cash flow
the spokesman could not say when this might be but trade sources said an announcement could come at the end of the week opening registraions from monday
opposition parties were questioning wilson about a possible loss of tax revenue if the takeover was completed because of the large tax credits held by dome
general partners said it intends to keep the companys plastics and industrial products businesses and its tires and related products segment
uk treasury confirms bp sale to go ahead
oper shr profit 13 cts vs nil oper net profit 612806 vs profit 2363 sales 8317933 vs 2823243 nine mths oper shr profit 32 cts vs loss four cts oper net profit 1464338 vs loss 161315 sales 203 mln vs 8241463 note 1987 earnings exclude gains from utilization of tax loss carryforwards of 321980 dlrs or seven cts a share in the quarter and 772285 dlrs or 17 cts a share for the nine months
dividend payable after general meeting on june 4 books close april 22 to may 5
in response to more specific market rumors that it had taken action on its exposure to brazil citicorp said it made an 8 k filing on the subject with the securities and exchange commission on tuesday in relation to a registration statement for a preferred stock issue
they said the french and german producers involved are now unable to withdraw this offer before april 1 when the sugar will officially enter intervention stores
the company said the two units combined are expected to have net revenues of about 25 mln dlrs in 1987
low yields from the countrys ageing coffee plantations and prevalence of the fungal disease hemileia vastatrix also contributed to the poor performance the sources said
the new plan will define the terms on which brazil will seek rescheduling of its 109 billion dlr foreign debt
the international primary market makers association a trade organisation said its board last week adopted new rules recommending lead managers of eurodollar bond issues make a market in that security for 12 months
a major shift of real resources to the external sector about 4 1 2 pct of gdp by 1990 91 was required for the economy to expand in line with potential for employment to grow and for the debt gdp ratio to stabilize it said
centronics corp cen year loss
british agriculture minister michael jopling during a visit to washington this week endorsed the oecd work as a starting point for the uruguay round negotiations on agriculture
full name is international biotechnologies inc
but there were skeptics who said they wondered how long opec can retain its unity if buyer resistance continues
cut were the firms senior debt to bb from bbb and the parents commercial paper to b from a 2
spi holding inc a group consisting of hicks and haas and acadia partners lp said it has received commitments for the senior bank financing needed to complete its proposed acquisition of spectradyne inc for 46 dlrs a share in cash or securities or a total of about 452 mln dlrs
salomon inc sb said to cut us banks ratings
the company said it filed in the federal court in the central district of california charging the tender offer which its board rejected violated federal securities laws and federal margin regulations
it said malrite communications group inc malr is the general partner
firstcorp inc fcr raises qtly dividends
yesterday funds averaged 601 pct
commercial credit ccc unit sells division
iniziativa meta inzimi the financial services unit of montedison spa monimi controls the largest single stake in florence based fondiaria with 499 pct
it said directors also approved a two for one stock split subject to approval by shareholders of a proposed capital stock amendment at the annual meeting in april
thai exports in december and january were down however
hartmarx corp hmx 1st qtr feb 28 net
coupon cut on bank of tokyo swiss franc issue
in 1987 we must reduce the rate of growth in public sector investments we must reduce the public sector deficit as a percentage of gnp and we must achieve a very visible improvement in the current account deficit he said
it will not be easy to cut domestic demand even in a state controlled economy
german march cost of living 02 pct below year ago feb 05 pct below official
emery air freight said hutton group ends offer for purolator courier
dumez said it will proceed to acquire the remaining common shares to give it 100 pct ownership of westburne
the may increase represents the seventh monthly rise with reserves up 9947 billion dlrs in that period and up 9816 billion since the start of 1987
the company said even if the purchase of the 9309394 piedmont shares caused it to exceed the 51 pct limit usair would waive the condition to the offer that the transportation department approve a voting trust agreement permitting usair to buy and hold shares under the offer pending review of usairs application to gain control of piedmont subject to the order not being rescinded or modified in an adverse way
sibson said he expects the tighter entrance requirements to pare 3he current list of 67 members down by six to 10 members
1st qtr to march 31 working profit 48750 mln rand vs 55959 mln tax 27428 mln vs 30215 mln net 26432 mln vs 30099 mln tonnes milled 374 mln vs 372 mln gold production 30865 kgs vs 30236 kgs gold revenue 84605 mln rand vs 90736 mln working costs 35856 mln vs 34777 mln avg price per kg 27371 rand vs 29964 note full name of company is gold fields of south africa ltd gldfj
foote mineral co said it signed a letter of intent to merge into rio tinto zinc corp plc for cash
taiwan to boost farm imports from us europe
photronics corp photo 1st half aug 31 net
us lawmakers are gearing up for a showdown between protectionists and free traders as a major trade bill winds its way through committees to a vote by the full house of representatives in late april
southland corps subsidiary citgo petroleum said it raised its posted prices for crude oil across the board by 50 cts a barrel effective june 17
it said indonesia did not achieve its goal of self sufficiency in soybean output in calendar 1986 because it did not meet a planned increase in area planted and because yields have remained below target
but unlike many analysts he doubted the uk will go in
the breakout is pretty important said chartist leslie keefe of technical data corp of boston
shr 32 cts vs 21 cts net 4717000 vs 2587000 revs 729 mln vs 379 mln avg shrs 147 mln vs 126 mln year oper shr 75 cts vs 41 cts oper net 107 mln vs 4642000 revs 1889 mln vs 1066 mln avg shrs 142 mln vs 14 mln note 1985 year net excludes 495000 dlr tax credit
the area sown to soybeans this season was a record 37 to 38 mln hectares 108 to 138 pct higher than the 1985 86 record of 334 mln hectares
the subsidies were needed to support the fertilizer industry including importers exporters producers and distributors he said as well as assisting in small part the majority of indonesian farmers
he declined comment on local press reports that us lines planned to suspend operations because of failure to restructure its 127 billion us dlr debt but said the firm would make an announcement later today
asked if the resolution was designed to give moore protection from a possible hostile takeover sinclair said only i know of no threat to the corporation at this time
it said it will seek to increase the present reserves of eight mln short tons grading 0045 ounce of gold per ton that had been found by usx corp x on a small portion of the 13 000 acre property determine the location of possible high grade ore zones at depth and test other targets
caterpillar inc in remarks delivered at its annual meeting in san francisco reiterated its expectation of a loss in the first quarter
apart from investing 100 mln francs for the modernisation of cgct a new research centre with was also being planned
the bond equivalent yield on three month bills was 590 pct
the banks latin american exposure mainly through its 51 pct owned marine midland banks inc mm appears to have improved substantially analysts said
finance minister kiichi miyazawa said the paris currency accord has contributed to the stability of exchange rates
the most likely explanation was that exchange rate changes were not backed by changes in macroeconomic policies it added
the company said its ladder making unit has been losing 300000 dlrs quarterly
kenya has signed an agreement with british and german interests to establish a shipping line that will handle 40 pct of the countrys external trade sources close to the deal said
bankers expect that the maturities will be concentrated in the one to five year area
the proposed stock split will be paid may 29 in shares of class a shares the company said
food costs rose in january from december but prices fell for clothing footwear and utilities causing the overall decline for the month
dixons sells 83 mln woolworth shares
mobil did not name any underwriters for the offering
lindner chairman of american financial corp holds 162 pct of taft
baldwin piano bpao files for secondary
a government decree allowed a longer period of time
sudan has an annual debt liability of 900 mln dlrs khartoum based western experts say
but quarter end pressures helped push up funds
in a statement the association said the parties had disagreed over economic sanctions
the indonesian state owned oil company pertamina has found new offshore oil and gas resources in east aceh on the western tip of northern sumatra a company spokesman said
youre talking about a 50 pct increase in crude oil prices but i think that time is coming and weve got to be prepared mcmillan said
also excludes gain of 83100 dlrs from in current qtr and gain 90400 dlrs in six mths from benefit of tax loss carryforwards
uk one billion stg bond issue exhausted
kuwait which has consistently denied quota violations was estimated to be pumping 14 mln bpd in february and 115 in early march both figures including 200000 bpd as its share of neutral zone output against its 948000 bpd quota
ivory coast today predicted that the present coffee price crash recorded after the collapse of the recent international coffee organisation ico meeting in london would not last long
dome has massive oil and gas landholdings in canada totalling 361 mln acres of which 74 mln have been developed
blackburn said that his new company would spend 75 mln dlrs in north america and 90 mln dlrs overseas mainly indonesia in the search for oil and gas reserves
the increase came after a revised 74 pct drop in january sales to a level of 11752 billion dlrs
it saw a decline of two to three pct in this sector after a 52 pct rise in 1986
the industry through the apea has been calling for the elimination of secondary taxation on oil in order to boost incentives for prospecting against a background of weak prices and australias relatively low exploration levels
the company said underwriters led by goldman sachs and co will be granted an option to purchase up to an additional 30 mln dlrs of debentures to cover over allotments
us to protect only american ships
producers who are in favour of the buffer stock buying a variety of grades of cocoa and oppose non member cocoa being accepted reviewed their position ahead of the working group meeting this afternoon
summer rice is usually in or nearing reproduction in most southern areas it said
the company which is 704 pct owned by fried krupp gmbh said the job losses were part of immediate and longer term restructuring plans
canada sets new standby credit facility
but there were also limits to the impact west germany could accept on exports from a rising mark he said
but most japanese investors in us bonds are still wiating to see if the dollar really is stable he said
he also noted that this test of the g 7 nations resolve had concentrated on the yen while other currencies especially the mark had remained stable
it said the two firms will use the money to construct the olympic hotel with 14 storeys and 380 rooms near pekings largest indoor stadium to cater for participants at international competitions and tourists
oil prices in the second quarter are likely to continue trading roughly between 16 and 19 dlrs a barrel and could well test the lower end of that range
northwest pipeline corp issues also were upgraded
taiwan banks asked to take part in indonesia loan
net includes reversal of tax loss carryforwards of 259000 dlrs vs 264000 dlrs in quarter and tax loss carryforwards of 8635000 dlrs vs 579000 dlrs in year
the company said it would retain automatic toll assets worth about nine mln dlrs to dispose of over time
japanese securities houses also may allow foreign brokers to underwrite more 10 year bonds from april
burlington lawyers said painewebber and ammeen met with edelman and dominion in november and continued to meet with them until a couple of days before edelman and dominion went public april 24 with their intention to take over the company
the days other borrower in this sector was the new south wales treasury corporation guaranteed by the crown in right of new south wales
we have terminated our discussions roderick told after a speech to the petroleum equipment suppliers association here
asked whether the government felt badly treated with its 7 8 pct spread when mexico and argentina have won a 13 16 pct margin marcano said he still felt venezuela had a good deal
ducommun said the sale coupled with its sale last month of metermaster were steps taken to improve the companys balance sheet and that no further sales are being contemplated
anheuser busch joins bid for san miguel
the federal reserve entered the government securities market to arrange three day system repurchase agreements a spokesman for the new york fed said
banner industries inc said 198 mln of the outstanding 20 mln shares in rexnord inc were tendered pursuant to its 2625 dlr a share offer that closed at midnight est feb 27
gartner said its wholly owned subsidiary purchased the interests of its former partners for an aggregate price of 1125000 plus a percentage of net sales proceeds on future sales of certain products
in addition we are setting up grain production bases raising the level of science and technology on the farms and improving the supply of raw materials roads and other infrastructure he said
parent turnover 1872 billion vs 2046 billion
he said japanese firms would gain from the lower cost of shipbuilding in taiwan while csbc would benefit from japanese technology and marketing
allegheny ag officers to run company
the non callable bonds will be issued in denominations of 1000 australian dlrs and will be listed in luxembourg
lig shares were one penny firmer at 277p
jones said a us discount rate increase to six pct might well be accompanied by west german and japanese rate cuts to further aid the dollar
iran lost most of its refining capacity early in the gulf war and now imports several hundred thousand bpd of refined products
the central bank was concerned about growing market expectations of higher interest rates which were in part responsible for the recent plunge in stock and yen bond prices the officials said
garcia says peru not trying to export debt stance
increased federal government borrowing needs and a growing unwillingness by foreign investors to buy mark assets could push yields in german public authority bonds higher this year bond market sources say
gains were most pronounced on the commodity exchange in new york where gold jumped 1240 dlrs and closed at 43650 dlrs a troy ounce and silver 225 cents to 686 dlrs a troy ounce
hes a heavy hitter and he does not like to get pushed around said henderson
earlier today us treasury assistant secretary told a senate banking subcommittee that he did not believe that west germany and japan have yet carried out their international responsibilities
commerce said petroleum imports during 1986 fell 166 billion dlrs or 33 pct to 339 billion dlrs because of lower prices
many major nations yesterday intervened heavily to aid dlr miyazawa
the result is in line with the declining trend in the growth rate since october the institute said
sierra health services inc sie 4th qtr loss
january inventories were up 82 billion dlrs or 14 pct from the year ago level of 58399 billion dlrs
mitchell energy and development corp mnd payout
the ministry also has power in the financial sector due to the more than 100000 billion yen worth of deposits in the postal savings system analysts said
but they doubt the usefulness of the latest move
he named them as us protectionist behaviour curbs on technology transfer and out of date trade legislation
a year ago the index stood at 2158 and year on year consumer price inflation at 1805 pct
after nakasones statement the dollar rose to 14640 50 yen from an initial low of 14420 40 and new yorks friday finish of 14715 25
political leverage may get the total foreign share up to a certain amount but you wont find any one company with an extraordinarily large holding whitten said
the saudis eventually lifted the condition and brazil decided to reconfirm the purchase
the companys backlog is currently more than 180 mln dlrs they said
one seven year tranche will be priced at 9994 pct
oper shr loss two cts vs profit three cts oper net profit 273000 dlrs vs profit 1710000 year period ended october 31 1986 oper shr loss 23 cts vs profit 14 cts oper net loss 4397000 vs profit 7527000 assets 267 billion vs 325 billion note 1987 1st qtr net excludes extraordinary loss of 22 mln dlrs or six cts shr
the estimates were based on a tentative leading indicator incorporating new business orders company inventories and share prices used by his ministry lee said without giving further details of the new indicator
but even at the low range of estimates treasuries trading volume is at least equal to that in the uk s own government bonds known as gilts
abn says profit rise encouraging in view dollar
goodyear tire and rubber co said it expects to report earnings from continuing operations of over one dlr per share on 713 mln average shares outstanding
gold production to start at ketza river
venezuela approves plans to issue new bonds
the issue is guaranteed by fuji bank
edward zorinsky d neb said his bill would restore equity under federal sodbuster rules which currently deny farm program benefits to farmers who between 1981 and 1985 planted alfalfa and other multiyear grasses and legumes without interrupting the plantings with a row crop
the spokesman said that natural float ranged from under 500 mln dlrs on friday for which he could give no reason to nearly one billion dlrs on both thursday and wednesday
in the five year plan which starts this year south korea aims to reduce its dependency on japan as a source of imported goods and to increase imports from the us and europe
the ccc accepted three bonus offers from one exporter which averaged 4088 dlrs per tonne it said
officers at small banks that have sold swapped or or written down their mexican loans say they see no reason why they should throw good money after bad
but if both sides drew back from the brink that time he said it does not mean that they would do so on another occasion channon added that there is increasing reesentment in europe over the us tactic of negotiating under the pressure of unilaterally imposed deadlines he said other potential conflicts are already in sight alleged european government subsidies of airbus aircraft and taxes on fats and oils and the commuity and the united states must therefore learn to manage their relations better he said another bill to let the united states retaliate against a nation if that nations market was not open to us goods would bypass the trade pact gatt general agreeeement on tariffs and trade as an arbiter of trade practices
twa said the agreement does not prevent it from commenting to regulatory agencies on the usair piedmont merger
american electric aep unit to buy back bonds
on the supply side the argument in favor of a contingent variable import tariff is most persuasive krapels president of energy security analysis inc said in a statement at a house energy and power subcommittee hearing
the notes have a 7 1 4 pct coupon and were priced at 99875 to yield 61 basis points more than comparable treasury securities
treasury says only reagan baker speak on dlr
talk also circulated that the bank of england purchased a small amount of dollars for yen
united tote inc tote 1st qtr jan 31 net
first union fur leaves dividend unchanged
reagan urges fulfillment of exchange accords
sept 30 end primary 76 cts vs 51 cts diluted shr 70 cts vs 49 cts net 2802000 vs 2030000 revs 1249 mln vs 1172 mln primary avg shrs 3687000 vs 4016000 diluted avg shrs 4786000 vs 5101000
oper shr loss five cts vs loss 50 cts oper net loss 3862000 vs loss 15900000 sales 426 mln vs 388 mln avg shr 721 mln vs 317 mln year oper shr loss 51 cts vs loss 210 dlrs oper net loss 303 mln vs 513 mln sales 1517 mln vs 1531 mln avg shrs 594 mln vs 244 mln backlog 571 mln vs 529 mln notes operating losses exclude profits from discontinued operationgs of 1000000 dlrs or one cent a share vs 2493000 dlrs or eight cts a share in quarter and 650 mln dlrs or 109 dlrs a share vs 137 mln dlrs or 56 cts a share in year 1986 year operating loss also excludes extraordinary gain of of 256 mln dlrs or 43 cts a share backlog which includes only orders to be shipped within 12 mths was 630 mln dlrs on january 31
shr primary one dlr vs 85 cts shr diluted 97 cts vs 81 cts net 1086 mln vs 868 mln rev 270 billion vs 217 billion
the associations said they would continue to do business using their present names and management
standard oil co expects the sale of assets and federal tax refunds resulting from last years loss to add about one billion dlrs to its normal cash flows from operations in 1987 its annual report said
medar earlier said it lost 558800 dlrs in its final 1986 quarter compared to a loss of 469200 dlrs in the same 1985 quarter
the national weather service said a powerful winter storm centered over north central oklahoma was spreading snow from western and central kansas across much of nebraska to southern and eastern south dakota
if during the three months the trader found a market elsewhere he could buy back the certificate on payment of a one pct premium
schweizerhalle fire hit sandoz 1986 profits
texas air tex unit completes system sale
he also refused to speculate on when an overall agreement might be reached
canadian wheat exports in 1986 87 are forecast at 1900 mln tonnes vs 1900 mln tonnes last month
it said 13 billion pesos of 91 day bills averaged 11249 pct down from 11743 pct the previous week 16 billion of 182 day bills averaged 12473 pct against 12847 pct and 21 billion of 364 day bills averaged 14029 pct against 14233
pioneer standard electronics inc pioso 2nd qtr
these will be due on the first and third wednesday of the month whereas at present most fall on the 20th and 25th
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 suit filed by polaroid in april 1976 charges that kodak infringed upon polaroids instant camera patent
the turn in the fortunes of the once sickly chemical industry has been brought about by a combination of luck and planning said paces john dosher
canada zero a sole purpose company incorporated in the cayman islands is issuing a zero coupon eurobond with a total redemption amount of 150 mln canadian dlrs lead manager cibc ltd said
non callable for two years the issue is rated ba 3 by moodys investors and b minus by standard and poors
a senior brazilian debt negotiator antonio de padua seixas has offered to resign from his post as director for external debt management at the central bank a bank spokesman said
gasoline supplies would also be limited
dow said that effective april 15 the selling prices for most grades of magnum abs resins for the injection molding custom sheet and automotive markets will rise six cts a pound instead of the three cts a pound announced previously
the purpose of the measures passed by the committee yesterday is to improve stockpile management and discourage sell offs of materials that could jeopardize strategic needs a staff member of the committee told 
pennsylvania power and light co said it will offer 500000 shares of 6 7 8 pct series preferred stock at 100 dlrs per share and 500000 shares of 7 3 8 pct series preferred stock at the same price plus accumulated dividends from the date of original issuance
shr after preferred divs
of the total 300 billion yen will yield 39989 pct on the sales from money houses to banks and securities houses in 27 day repurchase agreement due april 2
adsteam shares eased to 1420 dlrs from an opening 1460 and yesterdays close of 1450 on the issue announcement
bank of england offers early help to money market
grain ships waiting at new orleans
cbots start of an evening session planned for the end of april will also multiply yen bond futures trading a nomura securities co ltd bond manager said
but us trade representative clayton yeutter said yesterday on us television that the us is willing to drop the tariffs if japan shows a clear indication that it will open its markets to us goods
yugoslavias hard currency debt stands between 19 and 20 billion dlrs
in a warehousing scheme a group of investors acting in concert would each amass stock in the company without disclosing that they have an agreement among them
qtly div five cts vs five cts prior pay march 31 record march 16
under the agreement psa crew controllers received assurances they will be provided with labor protective provisions and a seniority integration process
the coupon will then be re fixed annually at the one year australian treasury rate
resorts has asked bear sterns to obtain complete data he said
us treasury selling 975 billion dlrs of one year bills april 9 to pay down 25 mln dlrs
phelps dodge corp chairman g
asked if brazil would have continued making payments of monthly interest to its foreign commercial bank lenders if official lending agencies had provided more funds he replied yes because our country did not receive financing from these agencies asked how long the payment suspension would last funaro said it all depends on what kind of financing we are going to receive from the other side brazil with foreign debt totaling 108 billion dlrs stunned the banking community last week by suspending payments on some 68 billion dlrs owed to private banks
bradley is prominent among congressmen urging that provisions for debt relief be attached to tough new trade legislation now being considered on capitol hill
farouk urged consuming countries to promote early accession to the new pact to avoid an undue gap between the old and the new
qtly div 19 cts vs 19 cts prior pay march 31 record march 12
of utilicorps total revenues expected for the 1987 first quarter about 43 mln dlrs will be derived from electric operations and about 147 mln dlrs will come from gas operations he said
under the option bonus program which is also scheduled to expire april 30 buyers receive cash bonuses on the purchase of pontiacs equipped with option group packages with the amount depending on the option level on each vehicle
taiwans trade surplus with the us hit 136 billion us dlrs last year against 102 billion in 1985
mcrae industries inc mrib 2nd qtr jan 31 net
funaro and gros spent two days at the end of last week in washington talking to government officials and international agencies and will this week visit britain france west germany switzerland and italy for discussions with governments
shr 39 cts vs 31 cts net 232991 vs 198185 revs 29 mln vs 23 mln year shr 220 dlrs vs 112 dlrs net 13 mln vs 715113 revs 113 mln vs 101 mln note1986 revs includes 260000 dlr finders fee net includes 112000 gain from sale of securities 115000 dividends 78000 dlrs from lease recalculations
it said it has asked symbion to provide its shareholder list to help in disseminating the offer
the government has forecast an unchanged 25 pct rise in gross national product
the bundesbank did not intervene as the dollar was fixed lower at 18218 marks after 18243 yesterday dealers said
there have been sporadic but frequent demonstrations by farmers protesting over sharp falls in meat and pork prices and further cutbacks in community milk output
the united states may lift an additional 84 mln dlrs in trade sanctions against japan later this month reagan administration officials said
champion parts creb asks declaratory judgment
international banks have radically changed their attitudes towards debt and lending and debtor nations will have to explore new methods of ensuring inflows philippine central bank governor jose fernandez said
the company said it experienced revenue growth across all product lines during the quarter
regency cruists ship corrects earnings
martin ny said the awarding of the contract is subject to congressional review
the officials said discussion of a us agriculture department wheat export subsidy to the soviet union was not on the agenda
rolls royce seeks 250 mln stg credit facility
based on the current price of etl shares of 105 dlrs the alternative is worth 397 dlrs per share but etl said the value placed on its shares for the offer aproximates to the diluted asset backing of etl as at march 31
rogers said it reached an agreement for the sale of its molded switch circuit product line to a major supplier
nippon shokubai issues 80 mln dlr warrant bond
but finance officials had earlier said the length of the suspension would depend on negotiations with private foreign banks
an investor group controlled by new york investor david rocker told the securities and exchange commission it has acquired 291400 shares of circle express inc or 61 pct of the total outstanding common stock
it said the increased sales reflect initial shipments of its fluoroscan imaging systems low radiation x ray imaging devices that recently were classified by underwriters laboratories inc
gencorp inc said it withdrew from consideration at its annual meeting on march 31 proposals aimed at providing for a stock split and an increased dividend so that it could focus its energies on responding to the takeover offer made last week by a partnership of afg industries inc afg and wagner and brown
i am more impressed with whats happening at ibm than i have been in a long time said painewebber analyst stephen smith
japan may increase its brazilian soybean purchases
a spokesman at the port authority of nearby vlissingen said attempts were being made to pull the vessel into shallow waters
texas air corp tex unit files for debt offer
for example pork would be listed on the ingredients statement instead of mechanically separated pork under the petition the calcium content of the meat product would have to be stated on the label and the mechanically separated meat could constitute no more than 10 pct of the meat and poultry portion of the product
the company said on february 20 1986 its predecessor nolex development inc acquired burdett publications inc in an exchange of 17 mln common shares for all burdett publications shares but the transaction was not qualified with the california department of corporations
grade mar 27 mar 20 feb 27 attaka 1923 1924 1672 arab light 1800 1810 1555 oman 1821 1825 1631 dubai 1809 1821 1586 arab heavy 1663 1673 1424
first wisconsin fwb to buy minnesota bank
west german economic growth will slow to 15 pct this year from 24 pct in 1986 due to weak domestic demand and tougher competition from abroad the organisation for economic cooperation and development oecd said in its semi annual review of the world economy
reid ashman inc said it has decided to divest its test products division located in santa clara
these consist of 79 mln dlrs of adjustable rate class j 1 bonds to be fully paid by november 20 2013 priced at 9980 pct to yield 749 pct
with a knowledge of their own needs until the end of the month the banks bought excessive amounts of treasury bills draining liquidity for three days
a preliminary injunction would hold up samjens 247 billion dlr offer until the case is decided
net commission income rose 66 mln to 1567 mln luckey said
zambia to retain currency auction says kaunda
the company has paid no dividend since the year ended october 31 1983 when it paid five yen
in the first quarter of 1986 mellon earned 604 mln dlrs or 213 dlrs a share
brazil loans total 300 mln dlrs of which about two thirds are affected by its suspension of interest payments on its medium and long term foreign debt
if youre the fed theres no reason to do anything said steve slifer of lehman government securities inc
one day after the texas commerce acquisition was announced in december interfirst corp ifc and republicbank corp rpt both headquartered in dallas agreed to merge in a deal valued at 570 mln dlrs
it provides ann entry to mcdonalds corp mcd weve been after for years douglas told analysts
the agriculture ministry expects a record maize crop of 277 mln tonnes a 36 pct increase on last years crop of 203 mln tonnes
unilever seeks buyer for stauffer chemical
a meeting of finance ministers and central bankers of the group of five ended after nearly three and a half hours
the tests had been successful and the missiles could be used against shipping in the strait the source added
divi hotels nv of aruba said the exercise price of its warrants has been cut to 11 dlrs per share from 12 dlrs until september 17 and to 13 dlrs from 14 dlrs thereafter due to the impact of a recent 1500000 share offering
when asked if there is a rising danger of a worldwide trade war baldrige said yes i dont think theres any question about that
arvins 1986 revenues were 9956 mln net reached 412 mln and earnings per share 246 dlrs
thomas and betts said the court upheld the may 26 1986 award plus interest to be paid by winchester electronics a division of litton systems inc which is a subsidiary of litton industries
the stock exchange of singapore has decided to discontinue a 150 mln dlr standby credit facility for broking firms facing financial problems because of the failure of pan electric industries ltd an exchange statement said
the companies kistler said have also decided to voluntarily sell a reed plant in singapore
this will mean a net negative cash flow as we pretty much spend our cash flow to find more oil and gas blackburn said the company will search for both oil and gas almost exclusively in estasblished basins roger hemminghaus who will be chairman of the new diamond shamrock refining and marketing co which last year had sales of approximately 16 billion dlrs told his company was taking on some debt
cash crisis hits ugandan coffee board
the bond is available in denominations of 1000 and 5000 dlrs and will be listed in luxembourg
further upward pressure on the federal funds rate may come from window dressing demand as the japanese fiscal year ends on march 31
us supreme court allows delta western merger
the bank cut its rate to 7 3 4 pct from eight pct on march 9 the first change since january 2
the soviet communist party has criticised the countrys grain products ministry for failing to ensure proper grain storage turning out poor quality bread and for unsatisfactory book keeping pravda said
glickman offered a list of possibilities that his committee will study in order to cut farm spending
snc group expects higher 1987 earnings sales
the company said the suit involves a patent for a vascular guiding catheter assembly and a vascular dilating catheter assembly
the firm said its financial position enables it to achieve its goals and it has confidence for 1987
by contrast west germany with the ecs most successful economy has never threatened tokyo with sanctions preferring to rely on firm diplomacy and encouragement of its own industries to surmount obstacles to export to japan
hartmarx corp hmx boosts dividend chicago april 8 qtly div 25 cts vs 23 cts prior qtr pay 15 may record 1 may
the payment date is may 29 and the issue will be listed in luxembourg
s p downgrades baker international corp upgrades hughes tool co affects 840 mln dlrs of debt
the departnment said exports to the us may be benefiting from fluctuations in the mark and yen exchange rates
love said texas commerce had turned the corner on its energy loan portfolio problems but added that the banks nonperforming real estate loans may increase during 1987
the company said these systems are self contained electrical generating facilities using alternate power sources such as photovoltaic cells to replace public utility power sources
in early 1986 gencorp and rko agreed to sell wor tv in secaucus nj to mca inc mca for 387 mln dlrs
this years crop is doubly susceptible because poor prices mean farmers were not encouraged to invest in fertilisers and insecticides and are also unlikely to treat against pod rot
normally i eat teishoku for 400 yen but sometimes ill splurge at shakeys where for 550 yen you can eat unlimited pizza for at least two hours still there are the extras that dent the budget
durham said production costs at the new mexico located chino mine will be in line with conventional copper production at the companys other mines by the fourth quarter
the company said shulansky remains senior vice president administration and investor relations
the price is quoted fob herculaneum mo and fob boss mo with freight allowed for carload quantities
morgan guaranty trust co said it filed suit against metromedia inc seeking a redemption at par of metromedia subordinated discount debentures
total debt declined during the year by 251 mln dlrs to 228 billion dlrs and debt to equity ratio improved to 18 to one from 21 to one
the house agriculture committee voted to make approximately 28 billion dlrs of feedgrains deficiency payments immediately instead of in the late fall
the sources said it is also understood that the change in the coding of these stocks should definitely not be taken as a sell recommendation because salomon is said to believe that its downgrading will only prove temporary
dunn had sales last year of about 65 mln dlrs
intercare inc said it has agreed to terminate the proposed acquisition of universal care because first jersey securities has withdrawn as underwriter for a proposed offering of intercare securities
finance minister michael wilson said it was too early to comment on the tax implications of transcanada pipelines ltds 43 billion dlr offer for dome petroleum ltd
the petitioners also noted that no similar regulation exists for poultry products
taft tfb to continue to review alternatives
in addition institutional sources told on friday that salomon brothers inc lowered its investment ratings on the stocks of all us money centers
ec foreign ministers issued a statement deploring japans continued trade imbalance and appealed for the country to make a greater effort to open up its markets
metal box issues 60 mln stg convertible bonds
construction group spie batignolles is negotiating to increase its holding in us engineering and electrical installations firm comstock spie batignolles a subsidiary of schneider sa schnpa said in a statement it was negotiating to invest 20 mln dlrs in comstock in the form of bonds convertible into shares
bank of japan sources said the bank has no plans to cut its discount rate
deregulation of japans oil industry could mean hardship for smaller firms and lead to their merging into bigger refining and marketing groups industry sources said
investor group cuts rospatch rpch stake
as well as financial and marketing pressures some states depended on associated gas output for domestic use and oil cutbacks had left insufficient gas supplies he added
subscriptions to the offer close march 24
petricioli reported that mexico has so far concluded eight bilateral accords with government creditors within the paris club
feretti conservatively estimated tennecos breakup value at 58 dlrs a share and said the company generated a cash flow of about 10 dlrs a share which is probably very attractive to pickens other analysts however estimate a breakup value well into the 60 dlr a share range
the exchange would be based on conversion of home federal shares of not less than 1935 or more than 1200 shares of barnett stocks
west german gross fishmeal imports rose 60260 tonnes or 146 pct last year to 471891 tonnes the highest level since 1972 trade sources said
it also warned that what it called the worldwide synchronization of monetary policy heightened the risk of a new global recession
customs figures show imports fell to 1182 mln tonnes in 1986 from 1909 mln in 1985 and fell to 25165 tonnes in january 1987 from 54000 in january 1986
all the shares are being offered by national heritage which will trade under symbol nher on nasdaq through lead underwriter drexel burnham lambert inc
end of quarter demand pressures are pushing up the funds rate
ny business loans rise 523 mln dlrs in feb 25 week fed says
they the stockpiles stand to gain the most by being managed properly said the staffer
us housing starts rose 26 pct in february to a seasonally adjusted annual rate of 1851000 units the commerce department said
pieter van der vorm managing director of graan elevator mij gem which handles 95 pct of grain passing through the port said their main europoort terminal was out of action because of a strike by technical staff
qtly div 15 cts vs 15 cts prior pay april 30 record april 14
the national bank said banks repaid around 58 billion francs of traditional central bank credit taken out to meet their end of quarter liquidity requirements
the unadjusted april index figure fell 14 pct from march to 104 compared with a 10 pct rise in march over february
baker said developing countries must adopt free market economic policies such as that of the united states
us senator uncommitted on offering 0 92 bill
the soviet union took 263051 tonnes of wheat and barley saudi arabia 90944 tonnes barley china 87259 wheat algeria 64896 wheat bangladesh 30000 wheat morocco 27500 maize greece 26700 wheat and barley spain 25124 wheat poland 24683 wheat brazil 24082 wheat italy 21659 wheat cyprus 20700 wheat and maize israel 16500 maize and the uk 8797 tonnes wheat
perus short term foreign trade credit lines have more than doubled to 430 mln dlrs under president alan garcias 20 month administration
system software ssaxo completes acquisition
the high court said texas courts must consider texacos plea to cut its 103 billion dlr bond while appealing the case
however some dealers said london based operators would be unlikely to open major positions next week ahead of the long easter weekend
for example the usda study found the united states subsidies to corn producers were higher in 1982 84 at 25 to 49 pct than in the ec at zero to nine pct
rubber stock manager says quality acceptable
under the agreement nippon will receive 13 mln cumulative preferred shares with a five pct dividend rate
dealers said federal funds were trading at 6 3 8 pct when the fed began its temporary and indirect supply of reserves to the banking system
but the group also said in a letter last week to the company that the group had no financing
avinda debentures converted to common shares
however some producer and consumer members emerged from the final icco council meeting with reservations about the pact
the restrictions are a bureaucratic imposition and skirt around the real issue he said
the national oilseeds development program will invest 300 mln rupees in 1986 87 on supplying improved high yielding seeds and other support services to help boost production it added
soybeans 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 acreage mln acres planted 615 615 631 611 harvested 594 594 616 616 yield bu 338 338 341 341 supply mln bu start stocks 536 536 316 316 production 2007 2007 2099 2099 total 2543 2543 2415 2415 soybeans cont 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 usage crushings 1130 1115 1053 1053 exports 700 700 740 740 seed feed and residual 103 93 86 86 total use 1933 1908 1879 1879 end stocks 610 635 536 536 avg price 460 480 460 480 505 505 note average price in dlrs per bushel
but diplomats said the ec is keen to negotiate with tokyo to solve the problem rather than embark on a costly and damaging trade war and the ministers called for more cooperation with japan in industry and research
argentinas creditors said divided over debt issue
a 75 mln dlr issue of notes due 1994 was given a 7 3 4 pct coupon and was priced at 99825 to yield 7782 pct or 80 basis points over comparable treasury paper
they said 79250 tonnes of wheat promised by britain would be shipped next week and used for the governments food for work program in the villages
this sale in and of itself wont make the company look better to a potential buyer said ray archibold a banking analyst with mccarthy crisanti and maffei inc
chia said that citicorp would focus its credit card marketing efforts on acceptance noting that visa and mastercard currently enjoy a two to one advantage over american express in terms of worldwide acceptance
to contain such a currency crisis dollar interest rates would have to soar bringing recession and a third world debt crisis it said
it bid them at 98403 and set a 7 1 2 pct coupon and reoffering price of 98875 to yield 55 basis points more than comparable treasury paper
according to the feds trade weighted index it had declined nine pct since the beginning of the period
sperry marine has annual revenues of about 100 mln dlrs
the european community ec agreed a trade deal with argentina designed to compensate the country following the entry of spain and portugal into the group ec officials said
shr 41 cts vs 17 cts net 8824000 vs 4555000 revs 3019 mln vs 1964 mln note housing backlog 135 mln dlrs up over 33 pct from a year earlier
marshall industries mi 3rd qtr feb 28 net
xie was quoted as saying the present cash shortage means some state firms do not run at full capacity and are inefficient
the company named kidder peabody and co inc as lead manager and robertson colman and stephens as co manager of the offering
the banks 615 pct subsidiary hang seng bank ltd hsghhk is to report its 1986 results on friday
the company has changed its fiscal year to end sept 30
orange julius announced the proposed sale of the units when a letter of intent was signed february 17
seven up cos a unit of philip morris cos inc is raising 15578 mln dlrs via an offering of senior subordinated notes due 1997 yielding 12 1 8 pct said lead underwriter donaldson lufkin and jenrette securities corp
the us currency steadied well above 14300 yen after bank of japan intervention and scattered short covering they said
analysts and market sources view the twa bid as an attempt to either trigger a counter offer from usair or to attract a suitor who might want both airlines once they merged
the countries efforts to further economic growth and to consolidate budgets were not unsuccessful but the slump in oil prices and the decline in commodity prices hampered these efforts he said
the senators including senate finance committee chairman lloyd bentsen d tex max baucus d mont david pryor d ark john melcher d mont and thad cochran r miss also may fold into the trade bill a measure to shield pork producers and processors from canadian imports
although enskilda said astra had not made any breakthrough in developing a specific drug to treat the acquired immune deficiency syndrome it noted that investors were only now discovering that the firms approach in the area was promising
rene rivkin head of sydney brokerage house rivkin james capel ltd said many brokers will resist anything that restricts their individuality and entrepreneurial spirit and this could leave new entrants into the business short staffed
the bond with a yield at issue of 643 pct will pay annual interest on april 29
we have seen the kind of expectational forces develop i think that weve been satisfied with since our last discount rate move johnson said
bull is on the governments list of companies scheduled to be privatised over the next five years but no date has been set
he noted as an example that new stock in fmc corp fmc which adopted a highly leveraged structure last year inititally traded at 1250 dlrs per share dipped to nine dlrs and is now just over 30 dlrs
he said the us debt strategy which envisaged stepped up lending by commercial and multilateral banks to major debtor nations of 29 billion dlrs over three years was insufficient to achieve the necessary rates of growth
the us government said the attack was a measured response to an iranian missile attack on the american flagged kuwaiti tanker sea isle city in kuwaiti waters last friday
tiger international inc said it will pay the interest due april 1 on its 11 1 2 pct sinking fund debentures by distributing common stock
the report was filed today with the securities and exchange commission along with a copy of chrysler corps c proposal to take over american motors
shr loss four cts vs loss 34 cts net loss 2922000 vs loss 199 mln revs 4071000 vs 8012000 year shr loss 23 cts vs loss 79 cts net loss 173 mln vs loss 462 mln revs 224 mln vs 286 mln
a sharp deterioration in brazils foreign trade surplus caused president sarney to announce last month the suspension of interest rate payments on 68 billion dollars of commercial debt
stoltenberg does not rule out intervention
total lard usage in the 1986 87 marketing season which began october 1 amounted to 1252 mln lbs vs 1856 mln lbs in the year ago period
viacom international inc via sets quarterly
us sugar program cut sent to congress by usda
on march 13 colombia opened registrations for april and may for an unlimited amount
tourists came to canada in record numbers last year attracted by the relatively weak canadian dollar and expo 86 in vancouver which alone had more than 22 mln visitors
funds will come from savings and fixed deposit accounts but just how much will depend on the bond yields loh told 
peru sugar harvest seen lower usda
a new world bank loan of 300 mln dlrs last month in balance of payments support was given partly to help the government maintain the momentum of reform the bank said
at the seamens national strike headquarters in rio de janeiro spokesmen say a total of about 190 ships are strike bound in brazil and in foreign ports
heavy rains damage argentine coarse grains crop
the won was fixed at 80490 against the dollar on monday representing a 701 pct gain so far this year
french february inflation between 01 and 02 pct vs 09 pct in january official
the community has offered yugoslavia only 380 mln ecus he said
warner communications inc said its warner communications investors inc unit acquired stock and warrants representing 416668 shares of berkey inc common stock or the equivalent of 82 pct of the companys common stock outstanding
computer memories cmin sets film firm merger
the parent company had total assets of 210 billion dlrs as of september 30 1986
more state companies have sought the ministrys permission to issue them in coming months
japans ntt forecasts profits fall in 1987 88
pre tax profit 101 mln stg vs 92 mln
he believed that prompt restraints might avert the need for more substantial tightening later
for a small currency it was miraculous he said the bolivar which averaged 2029 to the us dollar in 1986 would continue to slip from its current range of 2835 to 2850 because the central bank was rapidly running out of foreign reserves to support the currency on the free market
the average effective rate for adjustable rate mortgages declined 22 basis points to 861 pct the bank board said
calmar said a special meeting of its board will be held march nine to form a special committee of directors not affiliated with kebo to evaluate the transaction
volcker said attempts to drive the dollar much lower would undermine the hard won gains against inflation and would risk dissipating the flow of foreign capital
southmark sm to purchase national self 
the failure of international coffee organization talks on the reintroduction of quotas has paralysed business on the hamburg green coffee market in the past week trade sources said
brazil rejected all offers at tonights wheat tender a brazilian wheat board spokesman said
proceeds will be invested in the companys unconsolidated finance subsidiary oakwood acceptance corp oakwood said
thad cochran r miss said
recent published reports in canada quoting senior trade sources said the countries were close to reaching a trade deal and it will involve eliminating border trariffs and many non tariff barriers over the next 10 to 12 years
his ministry was formerly known as the industry and mineral resources ministry
he told a national press club luncheon there would be a number of tax proposals that could be debated if reagan sought a tax increase to help balance the budget
a us navy battle group led by the aircraft carrier kitty hawk is currently in the northern arabian sea
he said no estimate has yet been made of the cost of canceling the plant but the company does not expect to take a charge against earnings
atcors consumer segment represents about 25 pct of its sales
but when the dust settles they will reevaluate the situation and will likely extend credit to the chapter 11 company but other officials at texaco were not immediately available to say whether discussions were being held with its banks or whether credit lines had been reestablished
the company believes the downgrade is unwarranted
the department said the change from february included a decrease of 2581 mln dlrs from the repayment at maturity of a 1982 swiss franc 400 mln issue
the launch spread is 53 basis points over equivalent five year treasuries
combined international corp said it will ask shareholders at the april 23 annual meeting to approve the doubling of authorized common shares to 120 mln
standard and poors corp said it upgraded the ratings on four billion dlrs of debt of coastal corp and its subsidiaries
world consumption could increase by a record 28 mln tonnes to 718 mln tonnes this season and would be even higher if the indian government did not artificially curb domestic demand
last year we asked for moderation in exports and this year we may have to do so again he said
analysts speculated there will be more such matches
gold reserves were 1657 mln dlrs at the end of may compared with 1243 mln at the end of april
finance and economy ministers of the six nation gulf cooperation council gcc have ended talks after adopting resolutions and recommendations aimed at boosting economic integration
american barrick resources corp said wholly owned barrick resources usa inc completed the previously announced 50 mln us dlr issue of two pct gold indexed notes which are guaranteed by american barrick
although the central bank does not see any imminent risk of inflation there could be some problems in the future he said
earlier today shell canada shc said it raised its crude postings about 47 canadian cts bbl bringing edmonton light sweet to 2195 canadian dlrs bbl and the light sour crude to 1995 canadian dlrs bbl
the acquisition was made through clark copys majority owned subsidiary interactive computer aids of norway
yeutter said if japan takes action to honor its agreement with the us on semiconductor trade then the retaliatory response will last a relatively short period yeutter said japan must stop dumping chips in third countries and buy more american computer chips
the us can say no to the ec proposal if the ec ignores the us plan when it tables its own proposal he added
washington has been demanding a cut to seven pct equivalent to its own duties ministry sources said
norsk hydro a s nhyol will operate nearby block 6407 10 with partners statoil norsk agip a s royal dutch shell groups rdas a s norske shell and deminex unit deminex norge a s
the drought has not stopped the disease but probably helped in some way because trees have not been affected in areas that are dry he said
this action relates both to loans to companies directly involved in energy as well as loans to real estate developers home builders and financial institutions in the southwestern united states barnes said
iran warns us against raising tension in gulf
rather the key to detecting a change will be found in seasonal and adjustment borrowing at the discount window he said
bank of france leaves intervention rate unchanged
net in nine mths included non operating costs of 12 mln in nine mths 1987 vs income of 84 mln in nine mths 1986
otsuki said economic growth is unlikely to pick up beyond levels experienced in 1986
an alternative focus for commodity discussions are international study groups made up of governments with advice from industry such as those for lead and zinc and rubber
shultz says us products must be competitive
close links would continue with these producers particularly colombia mexico and francophone african countries but dauster said no joint marketing action was envisaged at present
the draft proposal included three principles a limit to non member cocoa comprising the buffer stock an offer system for buying buffer stock cocoa and price differentials to be paid for various cocoas making up the buffer stock delegates said
utilization for the week of march 28 was 787 pct and for the week of march 21 was was 778 pct
pegasus said it completed the first phase of its 1987 super pad ahead of schedule as well allowing the mining company to load up to 75 mln tons of new ore on the pad
the issue was heavily over subscribed
wheat sowing normally begins in may
eib issues 400 mln mark eurobond
wysoglad said a recovery from the oversold condition could drive june bonds to a high near 99 before falling back to test chart support near the recent low of 97 13 32
the estimated amount of oil at the alba field is around 320 mln barrels paul spedding of stockbroker kleinwort grieveson and co told 
owens illinois inc said its subsidiarys 60 dlr a share cash tender offer for all the outstanding common shares of brockway inc has been extended to midnight october 30
the following proposed securities offerings were filed recently with the securities and exchange commission bio technology general corp btgc offering of 25 mln dlrs of convertible senior subordinated notes due march 1997 through drexel burnham lambert inc
it was really an enormous drop a reduction in rates and that to me is the critical element he told 
payment date is april 8
the bonds guaranteed by the french government will be issued in denominations of 5000 dlrs and will be listed in luxembourg
economic policy decisions made last year in tokyo and at this years meetings of group of seven finance ministers in paris and in washington cannot be ignored or forgotten he said
the company said it will also grant seizer an option to buy an additional 26 mln shares during the next four years at 125 dlrs a share during the first year and 150 dlrs a share thereafter
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
it might also facilitate a further cut in leading rates as the shift out of savings accounts into securities would slow growth of the bundesbanks central bank money stock aggregate
interfirst corp 1st qtr loss 28 cts vs profit three cts
dyr said the pay date for the dividend will be april 28
asa president elect wayne bennett said yesterday in the hague american soybean producers were confident the proposed tax would be rejected
the palm oil registration and licensing authority porla reports trade in crude palm oil cpo on april 2 as follows in ringgit per tonne delivered unless stated
scotts said capital food had 1986 sales of more than 20 mln dlrs and will continue to operate under its present name with existing management
payment date is expected to be around april 1
he added i do not think there will be a trade war at all on friday washington announced plans to put as much as 300 mln dlrs in tariffs on japanese electronic goods from april 17 because of tokyos failure to observe the agreement
periods end february 28 1987 and 1986 respectively
previewing the summit which he expected would not produce any major new economic initiatives lawson told reporters work remained to be done on improving the conditions for lasting world economic growth 0side measures to boost growth he said
the ministry has favoured the merger of the two rival groups arguing the market cannot support more than one competitor to kokusai denshin denwa co ltd which now monopolizes the business
square d corp sqd 1st qtr net
an indication of the us position came last december when under secretary of agriculture daniel amstutz said japan has the potential to provide one of the largest boosts to us agricultural exports with the beef market alone representing some one billion dlrs in new business
the government regularly uses the term changed external economic factors when referring to the fall of the dollar which has severely damaged west german exports
management group has restaurant ra majority
accordingly i hereby resign as a director of purolator courier corp effective immediately he said
terms werent disclosed
prudential insurance co and manufacturers hanover corp mhc the companys principle lenders will receive as collateral a pledge of stock in tidewater subsidiaries that own interests in oil and gas ventures offshore indonesia
acreage for harvest 95700 acres vs 95800 acres estimated previously
the idea of the exit bond is that a creditor bank may exchange up to five mln dlrs of existing debt for a new tradeable bond that bears below market interest rates
qtrly div 415 cts vs 415 cts prior pay july 29 record june 15
but opec appears committed to a short meeting and realises something must be done about the iraq issue the report said
eight banking officials arrested on embezzlement charges nine days ago have been released from jail on provisional liberty pending a hearing of charges in court judicial sources said
shr loss 22 cts vs loss 20 cts net loss 2127334 vs loss 1629432 revs 1306658 vs 1091023 avg shrs 97 mln vs 8 mln year shr loss 36 cts vs loss 35 cts net loss 3519251 vs loss 2805569 revs 5081953 vs 4410954 avg shrs 98 mln vs 81 mln
forest city feca completes sale
at the same time the us soybean loan rate is too low to provide any income support for soybean farmers haggard said
the bond which is a private placement matures on march 17 1992
as previously reported dome is seeking approval in principle for the debt restructuring plan
there is not likely to be a problem of availability as the us has a huge scrap reservoir and this is also true of several european countries albeit on a smaller scale
computrac llb sees lower first quarter net
nevertheless there is likely to be a marked slowing in inflation over coming quarters as depreciation and budgetary effects wane he said
the events we sustained yesterday and the day before are a very serious setback for gaspe mines operations lefebvre said
we consider the matter closed he said a signal the us administration did not want the gulf crisis to escalate
2 or better northern spring dns with 14 pct protein minimum and 13 pct moisture maximum and us no
the new international natural rubber agreement inra like the 1979 pact will use a buffer stock as the sole instrument for market intervention excluding export quotas or production controls
olin oln unit acquires image technology
oecd farm subsidies study results detailed
the rights will be exercisable only if a person or group acquires 20 pct or more of pubcos common stock or announces a tender which would result in ownership by a person or group of 20 pct or more of the common stock the company said
weve got none of it now
evergreen has placed newbuilding orders for three 3428 teu twenty foot equivalent unit fully cellular container ships with the state owned china shipbuilding corp for delivery in late 1988
chicago rivet and machine co cvr 4th qtr net
it should also result in significantly more financial flexibility to citizens fidelity moodys said
there might be an opportunity to pick up a premium on that because it would be virtually a control block in dome mines he said
seoul announces more tariff cuts for us 
the warrant exercise period is from april 15 1987 until march 17 1992
1986 both periods includes operations of sargent welch scientific co acquired on nov 30 1986 and interest in rosecraft inc since june 4 and lawrence jewelry corp since oct 22
foreign governments and central banks are therefore expected to be allowed to hold their accounts at the bank of japan the securities sources said
exports of fat and oil bearing raw materials rose to 28700 tonnes from 19800 on a fat oil basis and to 137200 from 89900 tonnes actual weight
under the pact japan pledged to stop dumping microchips in the us and asia and open its domestic market to us semiconductors
he said there was a debate in australia as to whether the middle east market for livestock which accounts for two thirds of meat export value to the area would be maintained
us soviet grain meeting unlikely this summer
the underwriters also said the paine webber group will use the offerings proceeds to redeem about 60 mln dlrs of debentures due 2008 and for general corporate purposes
a white house ordered report said that growing us reliance on foreign oil into the year 2000 could have potentially damaging implications for national security
mauritius has lifted import duties on textiles and other goods connected with the textile industry as part of its economic liberalisation programme finance minister vishnu lutchmeenaraido said
piedmont which slipped 1 2 to close at 69 5 8 also remained silent on the twa action
tesco buys 54 pct of hillards
us to end netherlands antilles tax treaty
if they want to lay off the workers fine but we are determined to carry on with our protest until the end a union leader said
the treasury department said it would temporarily permit imports of south african uranium ore and oxide pending clarification of anti apartheid sanctions laws passed by congress last fall
it said its most recent purchases included 191400 shares bought march 18 april 6
but no decision has been made on whether or how to proceed with a merger attempt he added
shr 87 cts vs 73 cts net 147 mln vs 117 mln assets 838 billion vs 743 billion loans 391 billion vs 340 billion deposits 560 billion vs 508 billion
the company also altered its employee retirement and stock incentive plans to assure continued protection and benefits for employees in the event of a hostile takeover
noranda said that when it resumes production it plans to operate the mine at about one third of the normal 72000 metric tons annual finished capacity
speculation even surfaced of a discount rate cut to calm the markets dealers said
the government also enacted a decree cutting to one pct from 13 pct the proportion of total assets which banks must lend at favourable rates to industries classified of public interest some bankers expect the deregulation of rates to result in a 20 pct drop in profits this year
us west usw hikes dividend
fiat has no comment on reported bond issue plan
the coarse grain crop harvest was interrupted last week by rains which also reached over 100 mm in parts of cordoba la pampa and santa fe and almost 90 mm in parts of entre rios
international business machines corp ibm net
baker denies change in us policy on dollar
the agency noted that texas air has adequate liquidity to service its obligations but cautioned there is no guarantee that its liquidity will remain stable
it said amtex inc sidney ohio was selected to supply trunk floor carpets and bluewater plastics inc marysville mich duct assemblies and column covers
moodys said the rate decision last month by the public service commission would significantly pressure niagara mohawks coverage of fixed charges
fieldcrest cannon inc fld sets quarterly
shr 193 dlrs vs 221 dlrs net 8371000 vs 9576000 revs 183 mln vs 157 mln
i find domes statement very bothersome
citibank ltd said it would lower its australian prime rate to 16 pct from 165 effective tomorrow
the wheat for jordan includes 165000 tonnes of hard red winter and 35000 tonnes of soft red winter and is for delivery during the 1987 88 marketing year
the dutch central bank said it has accepted bids totalling 400 billion guilders at tender this morning for new five day special advances at 53 pct for the period march 20 to 25
on the surface baker may look responsible for this but if you go back to see what caused it unsettling of financial markets it was west german policy said robert brusca of nikko securities international in new york
keystone said its agreement with le clip sa of switzerland is effective through march 31 1990
us pharmacologist norman farnsworth has calculated that 25 pct of all us prescriptions owe their active ingredients to higher plants growing in the forests
the companys dividend was an unchanged five marks
the move has been under study since early may in response to requests by non broker members of the exchange
delegates would not speculate on prospects for agreement on a quota package
india australia agree to improve two way trade
independence said its combined assets are now 25 billion dlrs
brokers also noted market speculation that evergo industrial enterprise ltd will make a similar move after the firm requested to suspend share trading this morning
a management group is currently being formed
chitambala declined to say what volume of copper and other minerals were being shipped through these two ports but he said there had not been any problem with the new arrangements
lyphomed lmed to sell 100 mln dlrs debentures
he said there is a 40 pct chance that crude oil prices could move higher in the second half of the year following an opec meeting scheduled for late june
specialty businesses do not stay special long houston based cain chemical created this month by the sterling investment banking group believes it can generate 700 mln dlrs in annual sales by bucking the industry trend
clausen said he doubts bankamerica would be in a position this year to make any acquisitions or experience any growth
this followed a decline in the cattle slaughter to 472900 head from 509500 in december and 478800 in january 1986 the bureau said
but the world economy with sluggish growth at best in the industrial nations a massive load of third world debt and huge trade imbalances is not in good shape said obrien
woolworth was unchanged at 758p
kawasaki steel issues novel 30 mln dlr eurobond
the debentures have an 8 3 4 pct coupon and were priced at 99055 to yield 115 basis points over the off the run 9 1 4 pct treasury bonds of 2016
that i think was partly due to statements that have been made by senior figures on the other side of the atlantic it was a dispute that should never have happened he added
the company earlier reported a two mln stg rise in pretax profit to 40 mln in the six months to end january
henderson said the 6000 billion yen package announced recently by the japanese government to encourage public works and cut taxes would make a significant contribution to this process though it was too early to estimate its precise impact
general systems research in private placement
two of those victims died and half the victims in their study of 45 patients had to be hospitalized for their illness
some usda analysts said the payments reflected hesitation from the office of managament and budget to allow another huge release of certs onto the market
merrill lynch pierce fenner and smith is a subsidiary of merrill lynch and co inc mer according to the court documents sofer is a principal in both plenmeer and meda establishment and vaskevitch has an interest in plenmeer
landes and another unitel video investor albert schwatz have formed a shareholder group and together hold 329225 common shares or 152 pct of the total outstanding common stock
1985 4th qtr and yr oper net excludes realized investment gains of 449920 dlrs or 15 cts per share and 897949 dlrs or 30 cts per share respectively
placer plc to increase stake in equity silver
it said it may buy additional shares but had not decided whether to offer its shares in response to a tender offer by sunter acquisition corp a unit of first boston inc
the issue is available in denominations of 1000 and 10000 stg and will be listed in luxembourg
group 77 officials set agenda for dhaka meeting
the reserve bank last week reported a february m3 growth rate of 112 pct from januarys 107 pct rise and a previous annual february increase of 140 pct
mesa royalty trust mrt said unit holders of record march 31 will receive a distribution amounting to 55192 dlrs or 296 cts per unit payable april 30
prior year net excludes losses from discontinued operations of 143000 dlrs in quarter and 102156 dlrs in year
unidentified jets attacked three iranian oil rigs in the southern gulf early on monday setting at least one of them ablaze regional shipping sources said
i think theyll figure out what theyre going to do with the money they have he said
carter hawley hale stores inc said it has set june 29 as the record date for shareholders voting on the companys proposed restructuring at its annual meeting
continental will reduce expenses through job cuts and reducing office rental costs
hillsdown holdings plc hldnl said its christie tyler ltd unit would buy the european bedding making interests of simmons co usa owned by gulf and western industries inc usa gw for 23 mln dlrs
mobile home credit was up by 130 mln dlrs after falling by 21 mln dlrs in december
publishers equipment corp said it reached an agreement to incorporate flexo printing technology into the tentonian an ingersoll newspaper in trenton nj it said that mid 1988 will be the target date for start up for the new equipment which will double the size of its present press
fhlbb changes short term discount note rates
at meetings here this week both countries were accorded terms that were more generous than usually granted by the club
dotronix inc said it completed the acquisition of video monitors inc for 392 mln dlrs
however some analysts said recent sharp losses in bond futures have left the bond market somewhat oversold and the contracts on long term debt could stage a recovery before resuming their decline
in march galaxy completed a public offering of 22 mln units for 43 mln dlrs and acquired the assets of 132 cable television systems for about 34 mln dlrs
qtly div 30 cts vs 30 cts prior pay june one record may eight note current dividend is equivalent to previous quarterly dividend of 45 cts per share after giving effect to 3 for 2 stock split effective march 3 1987
lyng will visit tokyo from april 16 to 27
yeutter in new zealand for informal gatt ministerial talks told bilateral trade disputes are increasing because the multilateral system is inefficient
five more cranes from finland are due to arrive soon increasing the container terminals handling capacity to 120000 units per year from 30000 at present the officials said
mclean industries incs united states lines inc subsidiary said it has agreed in principle to transfer its south american service by arranging for the transfer of certain charters and assets to crowley mariotime corp s american transport lines inc subsidiary
terms of domes proposed debt restructuring plan preclude the company from making an accurate estimate of future financing costs which are used in the new accounting calculations it said
federal industries ltds earlier announced commercial paper issue of up to 440 mln dlrs will be made only in canada a company spokesman said
the conversion period is from may 20 1987 until september 18 1992
and on the other side of the balance of harms was the fact that the oil companies had committed approximately 70 mln dlrs to exploration to be conducted during the summer of 1985 which they would have lost without chance of recovery had exploration been enjoined he said
the dollars tumble to a record low of 14470 yen in tokyo today motivated some major japanese investors to lighten their us bond inventory further and is expected to spur diversification into investment assets including foreign and domestic shares dealers said
us approves buyout of coastal bancorp csbk 
were moving toward a direction where we could self destruct the us sugar program rep
shr loss 942 dlrs vs loss 385 dlrs net loss 555 mln vs loss 214 mln revs 1149 mln vs 1200 mln avg shrs 6460000 vs 5719000 year shr loss 680 dlrs vs loss 477 dlrs net loss 360 mln vs loss 262 mln revs 4789 mln vs 4379 mln avg shrs 6016000 vs 5713000 note net includes realized capital gains of 2610000 vs 2442000 for qtr and 181 mln vs 136 mln for year
conrac which said its board discussed the alternatives at special meetings on march 26 and 30 said that its decision on whether to adopt any of the alternatives would hinge on the future actions of mark iv and its unsolicitied tender offer
tesco is making an opposed 151 mln stg bid for hillards
madagascars vital rice crop is estimated at 2286000 tonnes of paddy this year up from 2138000 in 1986 the ministry of agriculture said
he noted that morgan has already set up a brokerage subsidiary to deal in loans to less developed countries
banca nazionale del lavoro launches bond warrants
the french primary bond market is showing signs of renewed effervescence after several weeks of lethargy and the trend is expected to continue if hopes of imminent interest rate cuts are fulfilled market operators said
dividend is payable november 23 record november 9
the company also said the restaurants are profitable with profit margins increasing over last year
amoskeag bank shares inc said the new hampshire supreme court overturned its proposed acquisition of portsmouth savings bank in a three two vote
patrick petroluem has definitive accord to buy bayou resources
last years us offer of subsidized wheat to the soviets was rejected because of an insufficient subsidy melnikov said
memory protection mpdi completes acquisition
sales were lower than expected due mainly to delayed defence orders and cancellations
jacobs suchard expects another excellent year
the won was set at 84550 yesterday
reserves of european currency units rose by 25 mln francs to 7327 billion francs due to interest adjustments while gold reserves rose by two mln francs to 21846 billion francs
november and december production figures also exceeded last years totals with the result that output in the first three months of the season showed a 231 pct increase over 1985 86
basic american medical inc said a proposed 82 mln dlr note issue will not take place at this time the company announced on jan 5 1987 that it received a proposal from irving trust co under which irving would issue its direct pay letter of credit for up to 835 mln dlrs to secure the proposed note
italys buitoni acquires vismara food group
borden bn calls 4 3 8 pct debentures
french january payments surplus 03 billion francs 38 billion december surplus official
the plan to sell part of shearson to nippon life must be approved by the american express board and japans ministry of finance
more recently the rule was extended to cover farm and energy loans and senator bill bradley a new jersey democrat has suggested it should be extended to third world loans
csr ltd csras said it will offer 220 dlrs cash each for the shares it does not already hold in pioneer sugar mills ltd csr already holds 3174 pct of pioneers 9980 mln issued shares it said in a statement
formula shell has achieved strong sales in japan despite a higher price than regular octane gasoline which has prompted other oil firms to offer a rival product the sources said
according to the boersen zeitung newspaper schmidt said vw would invest 42 billion pesetas in seat this year and in the years to 1995 would spend 462 billion on its new spanish unit
iadb meeting ends with us isolated on reform
fees are 1 1 4 pct for selling and 5 8 pct for management and underwriting combined
gerber geb sets deadline for units buyout
penner said the tax cut resulted from the ideological turmoil in the us caused by the biggest sustained inflation in our nations history which helped foster widespread distrust of government
usda general sales manager melvin sims said the commodity credit corp accepted one bid from cam usa inc on a sale of 18000 tonnes of durum wheat
nevertheless new york analyst william raferty of smith barney harris upham said were still in a bull market adding that corrections are a normal part of a rising market and the bear usually strikes slowly economist evelyn brody at morgan grenfell and co in london said the huge sums of money going through the world financial system will keep a floor under share and bond prices
shr 96 cts vs 87 cts net 108 mln vs 9671000 revs 1039 mln vs 975 mln nine mths shr 273 dlrs vs 262 dlrs net 307 mln vs 293 mln revs 3257 mln vs 3028 mln
an official representing a large grain trade company said deliberations within usda might be nudged along by members of congress a number of whom urged usda this week to make a wheat subsidy offer to the soviets
unicorp american corp uac 4th qtr net
it said the sale is also subject to renegotiation of a real estate lease and approval of a definitive agreement by the companys board stock holders and debenture holders
ottawa announced previously it was seeking parliamentary approval for the additional authority to cover the financing of an increase in the governments foreign reserves
ali said the problem of price differentials between the prices of various opec crudes had not been dealt with properly at the meeting
comb said the transaction is subject to the parties entering into an agreement which would be subject to approval by its shareholders and regulatory agencies
the cash purchase price was not disclosed
the dutch central bank said it has accepted bids totalling 48 billion guilders at tender for new seven day special advances at 53 pct covering the period march 2 to 9 aimed at relieving money market tightness
the yens tendency to rise will prevent japan from expanding domestic demand and undertaking necessary economic restructuring he said
he said carolina power intends to include the cancellation costs in rate filings it will make late this year or early next year
there is some hope among investors that there will some progress in the status hearing tomorrow on the patent infringement suit with kodak analyst michael ellmann of wertheim and co said
talking point general motors gm 
northwest aluminum reopened it last december
gaf has only said it was reviewing the situation
william martin deputy energy secretary said the costs of an import fee outweigh its benefits and suggested as energy secretary john herrington has depletion tax credits to encourage domestic production and limit oil imports
areas may be slightly lower but analysts and agricultural experts said the steady rise in yields resulting from improved seed varieties and better farming techniques could offset this
qtly div 40 cts vs 40 cts pay march 31 record march 16
american cyanamid co said subject to approval by its board it has changed the record date for the quarterly dividend it will pay on june 26 to may 8 from may 29 to coincide with the record date for a two for one stock split that was declared at the same time
a final decision is expected in april
also warnings have been posted for large waves and beach erosion along the shores of the lakes
the new grand bois mine represents large amounts of money said a former official of sedren mine
he added that the adoption of the new agreement attests to the importance of rubber and confidence in the rubber industry
a 57 mln dlr loan is for urban development 80 mln dlrs for industrial programs 96 mln dlrs for highway rehabilitation and 46 mln for farm research
in february and in march of this year japanese investors reduced their purchases of us treasury bonds the sources said
id say its 99 plus pct sure that it the tariffs will not provoke a retaliation on american products yeutter told cable news network
world bank to loan jamaica 104 mln dlrs
however the final outcome of the negotiations cannot be predicted at this time it said
southernnet inc sout 4th qtr net
gros is also expected to brief the banks on the results of a 10 day tour of europe and japan that he and finance minister dilson funaro have just completed to seek official support for brazils debt stance
zuckerman said chrysler sold the corporate bonds at about 16 pct above yesterdays closing prices for these issues
shr loss 36 cts vs loss 11 cts net loss 186 mln vs loss 5855000 revs 239 mln vs 539 mln note net includes tax credits of 122 mln dlrs vs 8510000 dlrs
ccc preparing wheat catalogue
about 800 mln dlrs of the purchases are in goods of the type south korea normally bought from japan
shr 124 dlrs vs 66 dlrs net 382 mln vs 201 mln revs 4191 mln vs 3338 mln nine mths shr 350 dlrs vs 174 dlrs net 1077 mln vs 53 mln revs 12 billion vs 940 mln
the expatriate workforce has fallen sharply
hungary raises prices in effort to curb deficit
drought cut the 1986 harvest to 358 mln tonnes from 407 mln in 1985
lawson said the low outturn of the psbr in 1986 87 is chiefly attributable to the remarkable buoyancy of non oil tax revenues in general and the corporation tax paid by an increasingly profitable business sector in particular on oil prices lawson said he was sticking to his earlier assumption that north sea crude prices will average 15 dlrs per barrel in calendar 1987
ccc reallocates credit guarantees to el salvador
soybeans account for the bulk of the surplus and us stocks make up most of those balletto said
dollar eurobonds end easier on prime rate rises
caisse nationale des telecommunications is issuing a 20 billion yen eurobond due may 29 1992 paying 4 3 8 pct and priced at 101 1 2 pct lead manager ibj international ltd said
the lisbon court ruling stated that epacs participation in the public tenders was unfair competition and violated the clauses of portugals ec accession treaty dealing with the gradual dismantling of the state agencys import monopoly
soybean oil cont 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 usage mln lbs domestic 10500 10500 10053 10053 exports 1350 1350 1257 1257 total 11850 11850 11310 11310 end stcks 1360 1200 947 947 avgprice 145 160 150 170 1800 1800 note average price in cents per lb
japan has come to symbolize what we fear most in trade the challenge to our high technology industries the threat of government nutured competition and the multitude of barriers to our exports senate democratic leader robert byrd said
other timecharter fixing included a 14000 tonner from indonesia to the us gulf at 2800 dlrs daily and a combined carrier of 75000 tonnes dw from the us gulf to italy at 9000 dlrs daily
he said quality potatoes are in short supply and prepackers have been paying between 145 and 165 stg per tonne for best samples
shr 83 cts vs 67 cts net 10052000 vs 7929000 avg shrs 12161000 vs 11824000 nine mths shr 233 dlrs vs 191 dlrs net 28110000 vs 22386000 avg shrs 12078000 vs 11729000 assets 59 billion vs 57 billion deposits 53 billion vs 48 billion loans and leases 42 billion vs 40 billion
terms were not disclosed
he called for a faithful and firm adherence by all the major industrial countries to the louvre accords in both their letter and spirit neither the west german finance ministry nor the british treasury commented on the row
wilson brothers 4th qtr
the shares are the entire block seized by the government from the united coconut planters bank ucpb on suspicion that the real owner was eduardo cojuangco the former chairman of san miguel and ucpb and a close associate of deposed president ferdinand marcos
nspa said the figures include only nspa member firms
national bank issues mortgage backed securities
north american group ltds north american acquisition corp said it has a definitive agreement to buy 100 pct of pioneer business group inc of atlanta
nordbanken to auction its fermenta shares
the improvement will result from production increases lower taxes and royalties reduced financing costs and from operating efficiencies and downsizing put into place during 1986 the company said in the annual report
shr 80 cts vs 72 cts net 18900000 vs 17100000 sales 2674 mln vs 2886 mln nine mths shr 226 dlrs vs 204 dlrs net 53600000 vs 48200000 sales 8393 mln vs 8363 mln
us refuses parts of two australia beef cargoes
reserves of the donalda number two deposit located 1000 feet below the number one deposit were recalculated at 300000 tons with an average grade of 033 ounces of gold per ton
american water works co inc awk sets payout
by comparison in 1985 about 37 mln tons of cargo traveled through the montreal lake ontario section and 42 mln through the eight lock canal
money market sources said institutions in need of funds were likely to have to return to the bank tomorrow for further assistance
cominco and lornex share equally in control and management of the highland valley operations while cominco has a 55 pct share of production and lornex receives 45 pct
the west german government had come under pressure from the united states to stimulate its economy with tax cuts
in contrast ford motor cos f ford motor credit co unit last month sold 300 mln dlrs of same maturity notes priced to yield 762 pct or 625 basis points over treasuries
actual reserves rose by 305 mln dlrs in february to 2226 billion dlrs after rising 29 mln in january to 2195 billion
the ministry was a minor ministry and its people were not so internationalized said waseda university professor mitsuru uchida
it may face at least one strong opponent us sprint the long distance joint venture between gte corp gte and united telecommunications inc ut we think the congress of the fcc should establish a reasonable rate of return
virgil rosendale a pork producer from illinois and chairman of the national pork board said over 22 mln dlrs was collected in january and refunds are running almost nine pct considerably less than expected
the government which published the january unemployment figures today did not make any predictions
m 1 a which is m 1 plus daily interest chequable and non personal deposits fell 874 mln dlrs to 7997 billion dlrs and m 2 which is m 1 a plus other notice and personal fixed term deposits fell 952 mln dlrs to 18445 billion dlrs
apart from unemployment these include relief to farmers hit by european community cost cutting measures
the stripped securities consist of two classes
tokheim corp manufacturer of electronic petroleum marketing systems said it expects shipments of tokheim convenience systems tcs its new family of dispensers to improve its sales trend throughout 1987
it said agreements are being concluded to give it a beneficial 724 pct interest
belgian february industry output down on year ago
however arango like colombian finance minister cesar gaviria last week was more explicit and said the united states would undoubtedly be under great political pressure in coming weeks to revise its policy
federal reserve money supply report feb 26 one week ended feb 16 m 1 7367 up 21 previous week revised to 7346 from 7342 avge 4 weeks vs week ago 7350 vs 7335 avge 13 weeks vs week ago 7318 vs 7298 monthly aggregates adjusted avgs in billions m 1 jan vs dec 7376 vs 7305 m 2 jan vs dec 28201 vs 27984 m 3 jan vs dec 35136 vs 34881 l dec vs nov 41415 vs 41105 domestic debtdec vs nov 76044 vs 75198
the federation groups all of taiwans major industrial associations
interconnect offers to buy gates learjet glj 
the dealers have got historically small positions in outright terms one trader said
the government has estimated the economic cost of the earthquake last thursday night at nearly one billion dlrs including oil revenues lost because an oil pipeline was damaged
shr 86 cts vs 96 cts net 297 mln vs 325 mln revs 295 billion vs 286 billion nine mths shr 230 dlrs vs 274 dlrs net 785 mln vs 916 mln revs 113 billion vs 111 billion note 1986 share results restated for 3 for 2 stock split in january 1987 1987 net in both periods includes business repositioning gains of 16 mln dlrs or five cts a share and gains from early retirement programs of 65 mln dlrs or 20 cts a share 1987 nine months net also includes pre tax charge of 175 mln dlrs for gtes share of a special write off at us sprint which reduced after tax net by 104 mln dlrs or 31 cts a share 1986 net in both periods includes business repositioning gains of 32 mln dlrs or 10 cts per share
that was up from 2997800 the previous week
microtel inc said it has completed the acquisition of american teledata corp and its us dial subsidiary which provide long distance telephone service in northeast florida
apea has said it is not a true profit based tax because exploration deductibility is limited to successful projects
consumer prices in february rose 03 pct compared with 01 pct in february last year the bureau said
lee r
moodys launches us corporate bond index
mexico might supply ecuadors south korean market
but when demand is sluggish in summer they will phase down term purchases of saudi lpg and secure lower priced cargoes on the spot market they said
itel corp said it has completed the previously announced acquisition of the container fleet and related assets of castle and cooke incs flexi van leasing inc subsidiary for about 130 mln dlrs in cash and marketable securities 30 mln dlrs in notes three mln common shares and the assumption of liabilities
tdk group net up 05 pct in three months to august
there was speculation today that harold simmons the dallas investor might try to acquire hughes but simmons told he is not interested
the figures were given by usda officials at a senate agriculture appropriations hearing yesterday
the change also improves receptivity in the market for other borrowers including provincial governments the big utilities and corporations
mccarthy noted that the housing report together with larger than expected gains in us employment industrial output and retail sales in february may cause some observers to start waving four pct gnp banners for the first quarter
the minister of communications and transport abdel jabbar abdel rahim al asadi was also relieved of his post and replaced by a member of the ruling baath party regional command mohammed hamza al zubeidi
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
miller noted secretary schultz is scheduled to meet next month with representatives of the soviet union and the nawg wanted to be certain the secretary was aware of our concerns regarding the reopening of wheat trade with the soviet union the annual spring nawg board of directors meeting is held in washington to allow grower leaders from around the country to meet with their state congressional delegations and members of the executive branch
bethlehem steel bs debt downgraded by s p
in february total volume on the exchange reached a record 122819 contracts surpassing the previous monthly record of 116767 set in september
about 200 people were rescued some badly hurt from a sinking cross channel ferry carrying approximately 540 people off the belgian port of zeebrugge a port control spokesman said
the company said it bought the wyona water flood oil and gas unit in 1984 for 650000 dlrs
astrocom corp acom 4th qtr net
the company added that it expects first quarter 1987 earnings to be down moderately from year earlier levels
phillips last changed it crude oil postings on sept 9
he said that while the merger will initially reduce sumitomos profitability and efficiency it will vastly expand sumitomos branch network in the tokyo metropolitan area where it has been relatively weak
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
qtly div 325 cts vs 325 cts in prior qtr payable mary 15 record april 15
ec producers have threatened to sell over 800000 tonnes of sugar to intervention stocks as a protest against ec export licensing policies
but there was no hint what the announcement might be
selas sls loses ruling in contract dispute
the transaction is expected to be completed during the summer 1987
the faster growth of imports compared with exports this year and last reflecting buoyant private consumption meant that the contribution of the foreign payments balance to gdp would shrink in both years
the company named kidder peabody and co inc as lead underwriter of the offering
shr 23 cts vs 12 cts net 1535000 vs 783000 rev 400 mln vs 287 mln
spot next and one week rates were put at 6 1 4 5 3 4 pct after quotes ranging between seven six yesterday
approval would pave the way for us commercial banks to underwrite and trade equities in japan under their own names
as prices and demand improve we are poised to accelerate capital spending on our inventory of attractive opportunities amoco previously announced a 1987 capital spending budget of 32 billion dlrs
ever since then the advisory group of which lloyds is a member has been attempting to round up the needed signatories
convenient food mart inc cfmi 4th qtr net
the soviet union whose exports have declined since the 1970s might increase sales to the west by about 50000 ounces clark said
paul mlotok oil analyst with salomon brothers inc said that with the closures exxon made in 1986 in europe and the improvement in the european refining situation its future profits there should be good
india buys rbd palm olein at tender
jewelmasters said it expects to report audited results for the fourth quarter and year in about three weeks
in answer to a reporters question holden brown said it would be possible for gulf canada to sell off part of its 49 pct in a public offering with allied lyons consent
as larry speakes said on january 14 this year only two people in this administration are authorized to speak on the dollar and that is the president and the secretary of the treasury the spokesman told
the announcement was made jointly by frank bennack jr president and chief executive officer of hearst and richard johnson president of the chronicle
trade and commission house forecasts ranged from 102 to 109 mln acres
qtr ended jan 31 shr 12 cts vs 19 cts net 369000 vs 358000 revs 7076000 vs 6712000 avg shrs 3050000 vs 1850000 nine mths shr 53 cts vs 63 cts net 1523000 vs 1158000 revs 226 mln vs 207 mln avg shrs 2852198 vs 1850000
alden electronics adnea sets lower dividend
his program has to be discussed and approved by parliament by early november
the state owned philippine national bank pnb will fund toyota motor corps toyot planned purchase of its bankrupt former local partners manufacturing facilities for at least 193 mln pesos a bank official told reporters
among the ratings under review is chryslers bbb grading for senior debt
initial reports spoke of water flooding the car decks through the bow doors
hu said the current government securities market is rudimentary with the cpf holding three quarters of the outstanding debt and banks discount houses and insurance companies holding the rest
silver prices in march gained some 15 pct in dlr terms due to a weak dollar and silver is felt to be fairly cheap relative to gold montagu said in its monthly silver newsletter
towle also said that as a result of its restructuring its sales for 1987 will not exceed 100 mln dlrs
shr 30 cts vs 12 cts net 727000 vs 266000 revs 278 mln vs 211 mln nine mths shr 59 cts vs 48 cts net 1355000 vs 1098000 revs 694 mln vs 591 mln
on the contrary a slight rise in exports can be expected the institute said past experience has shown west german exporters will move to counterbalance currency factors by cutting costs trying to penetrate new markets and adjusting their product ranges
us asks japan end agriculture import controls
us current account deficit 3684 billion dlrs
the acquisition is being evaluated by geodyne board members not employed by the company painewebber or any company affiliated with painewebber
oil stocks in western europe were 1474 mln tonnes on april 1 down from the 154 mln on january 1 but still equivalent to 94 days of consumption
both facilities are at expected to be in full operation in the early 1990s with annual production of one to two mln lbs of uranium concentrates the company said
that information burlington said was provided by james ammeen a former burlington executive through painewebber group inc pwj ammeen who had worked for burlington for 23 years had as many as 12 divisions with 50 pct of burlingtons sales reporting to him
warrington inc said it sold its shoe divisions to montreal based taurus footwear inc for undisclosed terms
excluding unusual items it said restaurants operating profit was down in the quarter 12 pct from a year ago as sales rose four pct
shr 44 cts vs 123 dlrs net 2889010 vs 8105462 sales 1058 mln vs 1196 mln
if they dont quicken the pace washington could retaliate and really damage taiwan
nvhomes lp said april 30 will be the distribution date for new units as a result of its previously announced two for one split to unitholders of record april 20
the survey supported the general view in the gilt market that a shake out of the 27 market makers is likely
tenera lp said it plans to periodically repurchase up to 200000 limited partnership units in the open market
the 27 gilt edged primary dealers regard the introduction of grey market trading as an essential feature of an auction system covering part of the governments funding needs
analyst sanford margoshes of shearson lehman brothers said he recommended a number of oil stocks today now that it is apparent that opec has succeeded in holding to its prescribed production quotas
the bank of england said it had invited those discount houses wishing to use borrowing facilities to do so at 1430 gmt today at a rate of 10 pct for 14 days
he said capital flows will be required to support the needed reforms in those countries economic systems
tehran radio monitored by the british broadcasting corp quoted mousavi as saying that tehran officially announced after its forces overran southern iraqs faw peninsula in february last year that it had shore to sea missiles
the issue is being lead managed by saitama bank europe sa
the federal reserve entered the us government securities market to arrange 15 billion dlrs of customer repurchase agreements a fed spokesman said
finance minister chrispus kiyonga said last month that most of the one billion dlrs would go towards rehabilitating industries repairing and maintaining roads and buying tractors and other agricultural needs
ended jan 31 shr loss one ct vs loss eight cts net loss 25800 vs loss 157100 revs 2323500 vs 1930400 year shr profit 19 cts vs profit four cts net profit 401100 vs profit 93100 revs 103 mln vs 8807000
there will be a commitment fee of 1 4 pct per annum on available amounts and of 1 8 pct on unavailable amounts the sources said
we must alleviate the current account substantially to sustain the creditworthiness that we have managed to secure over the last five years he added
our representatives have gone to washington to the international monetary fund the world bank the fed federal reserve board and the us treasury to brief them in advance on this alternative and it has generally been positively received we dont believe that there is going to be a problem on the accounting side ongpin said
late season rains damaged soviet crops slowed harvest progress and lowered soviet production analysts said
the ecuadorean minister at the presidency patricio quevedo told reporters that venezuela will lend ecuador five mln barrels of crude which would repaid in kind after a 180 day period
ongpin said the first tranche of 100 mln dlrs was expected within a month
noranda inc said a copper mine fire that killed one miner and trapped 44 others for nearly a day caused an estimated 10 mln canadian dlrs in damage
qtly div six cts vs six cts prior pay april 10 record march 27
dauster rejected reports which said brazils inflexibility had been the cause for the breakdown of talks noting that its stance had the backing of 85 pct of producing countries
poland is still continuing a dialogue with the international monetary fund but this is progressing slowly the source said
kuwait may re register part of its tanker fleet with foreign flag jurisdictions including the us and ussr in an attempt to protect them from iranian missile attacks in the gulf war zone us officials were quoted by the new york times as saying
it also controlled 23250 convertible preference shares or 02 pct
periods ended september 30 oper shr 24 cts vs six cts oper net 1297881 vs 312295 sales 605 mln vs 522 mln first half oper shr 39 cts vs 13 cts oper net 2099679 vs 711530 sales 1181 mln vs 1037 mln note 1986 operating net excludes losses from discontinued operations of 154661 dlrs or three cts a share in quarter and 409476 dlrs or seven cts a share in half
he expects a slowdown in the second quarter with smaller increases in personal consumption and government spending
union uco to sell union flonetics unit
this should result in substantial new lending for the major debtors in 1987 he said in prepared testimony for the subcommittee on international development institutions of the us house of representatives
the merger is expected to close on april 22
unocal corp said it raised its posted prices for most us grades of crude oil by 50 cts a barrel effective october 16
they said nigeria would probably request about 320 mln dlrs in fresh private bank money and rescheduling of some 14 to 15 billion dlrs in existing loans due in 1986 and 1987
chicago physician leroy pesch said he has had discussions with several american medical international inc shareholders and sees support for a restructuring of the company
dimis inc said it has extended the expiration of its 1424500 common stock purchase warrants to september 30 from march 31
the remaining 10 billion consists of seven billion owed by government agencies and three billion by the private sector
international corona icrto 2nd qtr net
so even though interest rates had dropped the ratio hardly changed
euroyen bonds must now carry a five year maturity though some recent issues which are callable in three years work as if they had shorter maturities traders said
around 200 corporations satisfy financial standards set by securities houses for non collateral straight bond issues including electric power companies nippon telegraph and telephone corp and kokusai denshin denwa co ltd securities managers said
average shares increased to 102 mln from 99 mln a year earlier
currency traders said it remains unclear what form a final currency union would take for the six states saudi arabia kuwait bahrain oman qatar and the united arab emirates
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
papandreou has maintained in the past that he will not negotiate with ankara until turkey recognises greek rights in the aegean and withdraws its troops from cyprus
the world bank said it approved a 140 mln dlr loan for india to help lessen that countrys dependence on imported oil and spur development of its own petroleum resources
stoltenberg said initial contacts with several european counterparts showed that they shared this view
the kiel hamburg and essen institutes said the jobless total would average 217 mln in 1987 compared with 223 mln in 1986 and predicted a rise in the number of people in work of about 200000
the company said the system being purchased serves about 12000 subscribers in the towns of compton south el monte hawaiian gardens and the communities of willowbrook athens firestone florence and east compton
us trust co the only other bank to publicize its broker rate was already posting 7 1 2 pct
consolidated owns 42 mining concessions in three regions of eastern and northern brazil gammara santo antonio and diamazon the company said
no decision has yet been taken on the face value of the coins
supradur cos inc supd year net
the federal reserve will purchase approximately one billion dlrs of us treasury bills for a customer after the treasurys auction of four year notes a fed spokesman said
a hormel and co said its directors voted a two for one split payable june one record april 18
over the past year foreign exchange and consumer price controls have been largely abolished labour regulations have been pruned to ease the sacking of redundant workers and a hugely popular programme has been launched to sell state owned banks and industries to private investors
the arab monetary fund is to lend iraq 717 mln dlrs to help to finance its trade with other arab countries the united arab emirates news agency wam said
current profits are projected to fall 44 pct in 1987 88 on sales seen increasing by 42 pct it said
the size of french 1986 87 carryover barley stocks estimated at 172 mln tonnes compared with 700000 tonnes in 1985 86 is worrying french cereals intervention office onic director bernard vieux said
they will be underwriting three mln dlrs each instead of five mln dlrs
belgian transport minister herman de croo told reporters i fear the dead could be in hundreds perhaps 200
commenting on the increase in funds pledged to indonesia which has been hard hit in export revenue due to the oil price collapse wardhana said i am happily surprised but in view of the seriousness of the balance of payments situation the amount is what we needed to cope he noted donors pledged to increase local cost financing as part of the aid package
including acceptances loans declined 114 mln dlrs to 6589 billion
the previous weeks m 1 level was revised to 7346 billion dlrs from 7342 billion dlrs while the four week moving average of m 1 rose to 7350 billion dlrs from 7335 billion
lyng said he had no plans to meet with indian officials during gandhis visit here adding i just dont know of anything that might be announced specifically asked if the ball was in the indians court he said yes gandhi is to leave washington tuesday evening
this compares with the banks forecast of a shortage in the system today of around 100 mln stg
the central bank bought 108 mln stg of bills for resale to the market in equal amounts on april 1 2 and 3 at 10 7 16 pct
shr 35 cts vs 40 cts net 2642000 vs 3017000 sales 191 mln vs 189 mln six mths shr 69 cts vs 70 cts net 5178000 vs 5299000 sales 356 mln vs 338 mln
semicon tools inc said it has signed a letter of intent to acquire a majority interest in privately held east coast sales a distributor and fabricator of technical ceramic products and disposable clean room materials and supplies
taiwans surplus with the us hit a record 136 billion us dlrs in 1986
but there was no sign that the prospect of more tit for tat assaults had reduced the level of shipping activity in the area
more
robert halmi inc said it has received a commitment for a five mln dlr revolving credit line from wells fargo and co wfc it said it will use funds for the development and production of television programming
taiwans foreign exchange reserves hit a new high of more than 51 billion us dlrs on march 4 compared with 50 billion in mid february and 251 billion a year earlier the central bank said
the backlog of orders at end may was 122 ships of 370 mln gt against 125 ships of 373 mln at end april and 233 ships of 599 mln a year ago an association official said
bigelow said that times home box office added subscribers last year and the trend is continuing in the first quarter of 1987
xtra corp said it agreed to acquire all the stock of rentco trailer corp a wholly owned subsidiary of fruehauf corp for about 70 mln dlrs
keycorp is offering 75 mln dlrs of subordinated capital notes due 1999 with an 840 pct coupon and par pricing said sole manager first boston corp
balladur urges g 7 to respect louvre accord
baker denies dollar target exists
bids up to 30 mln guilders were met in full amounts above at 40 pct
monsod said ongpin was looking at the exchange rate from the point of view of finance
meanwhile the oilseed plant breeding association amsol said sunflower plantings in france this year are indicated at between 900000 and 950000 ha against 829000 harvested last year while soya plantings are indicated at 80000 ha against last years harvested 48000
very stormy weather is likely in the north sea through saturday disrupting shipping in the region private forecaster accu weather inc said
japanese companies requested a ratio of 80 pct arab heavy to 20 pct arab light under a term contract agreement with aramco for 100000 barrels per day the sources said
fw woolworth co z hikes dividend
qtly div 35 cts vs 35 cts in prior qtr payable april one record march 14
brenda mines ltd said it sold 2830390 kerr addison mines ltd shares to a group of underwriters led by wood gundy inc and brown baldwin nisker ltd for redistribution
the provisional january trade surplus narrowed to 72 billion marks from a record 116 billion marks the month before
but it said job creation should continue to absorb a modest increase in the workforce leaving the unemployment rate unchanged at around one pct the lowest in the 24 industrial nation oecd area
net loss industrial vehicles 990 mln vs loss 154 billion
each unit will comprise an interest in cdc flow through limited partnership and common shares of canterra which will be exchanged for cdc common shares
it said alfred and david billes two of canadian tires controlling shareholders backed the appeal and would seek leave to appeal while third controlling shareholder martha billes supported the appeal but would not join an appeal motion
the surplus is estimated at 350 billion yen due mainly to excess bank holdings of yen funds after heavy dollar purchases in the foreign exchange market yesterday money traders said
the us securities and exchange commission said it charged a managing director of merrill lynch pierce fenner and smith ltd in london with masterminding a massive insider trading scheme nahum vaskevitch managing director of the mergers and acquisitions department of the brokers london office was charged in a civil complaint by the sec filed in manhattan federal court
the group said it had held discussions with third parties to gauge their interest in joining the shareholder group but no agreements were reached
the governments position is to honour the debt commitments but without sacrificing the country because first we have to survive and later we can comply lara said
investment firms raise orient express oeh stake
it said the venture is the first economic cooperation project between china and chile but gave no more details
simon indicted in wedtech wdt case
hospital and laboratory product sales in the first quarter rose 141 pct to 456 mln dlrs it said
nzi is an insurance company in new zealand
moodys said downgrades led upgrades last quarter by two to one
john melcher d mont would establish trade teams of between six and nine persons drawn from federal agencies and private voluntary organizations staff said
we believe that significant increases in taxes would not reduce deficits and could have adverse effects on growth sprinkel told the house rules committee
the radio said halefoglu had briefed the leaders of a number of the countrys political parties on the latest developments
qtr ended feb 28 shr 24 cts vs 24 cts net 100 mln vs 101 mln revs 2028 mln vs 1846 mln nine mths shr 66 cts vs 67 cts net 273 mln vs 276 mln revs 5882 mln vs 5392 mln note 1986 shr data adjusted for 3 for 2 stock split paid october 1986
goria told reporters after meeting funaro who is in rome on the fifth leg of a tour to seek governmental support for his efforts to solve brazils debt crisis that italys expression of support was based on reason as much as sympathy
shr 32 cts vs 20 cts net 1982000 vs 1022000 year shr 122 dlrs vs 59 cts net 7005000 vs 3030000 assets 1913 mln vs 1165 mln
there are presently 800000 warrants outstanding
however affandi said volatile world sugar prices the need to save foreign exchange and an already up and running sugar industry were good arguments for continuing the sugar drive
it hit 1382 billion dlrs in 1985 86 to end june
canadian imperial bank of commerce cuts prime rate to 875 pct from 925 tomorrow
the criminal settlement includes the lifting of the governments suspension the dismissal of the federal civil false claims suit and all charges against the individuals
small scale exporters who export mainly to pakistan would be worst hit by the pakistani move as it would take them longer to find new outlets they said
uk money market given further 31 mln stg help
shr loss 12 cts vs loss three cts net loss 646000 vs loss 96000 revs 9414000 vs 9899000 avg shrs 5382833 vs 3722833 note converted using dec 31 exchange rate of 4005 belgian francs to the us dlr
in addition some low income wage earners will be taken off the tax rolls he said
andover had expressed an interest to acquire the company in september 1986 but hbo has never received an offer from them it said
diamond shamrock raised crude by 50 cts bbl today
the minister said the affected areas include eight provinces in the northeast two in eastern thailand and three rubber growing provinces in the south near the malaysian border
period ended december 31 1986 oper shr loss 108 dlrs vs loss 84 cts oper loss 7700000 vs loss 1700000 revs 11800000 vs 9800000 note current shr and net exclude extraordinary gain of 300000 dlrs or five cts shr versus extraordinary gain of 200000 dlrs or four cts shr
in january us bancorp and old national reached a definitive agreement covering the acquisition of all the stock of old national which it does not already own for 171 mln dlrs
winnebago industries inc wgo 2nd qtr net
permian basin pbt proven reserves fall
tenders were accepted for 220 billion dlrs of 91 day bills at an average price of 97963 dlrs against 97965 dlrs last week
saudi arabia has an opec quota of 4133 mln bpd under a production restraint scheme approved by the 13 nation group last december to back new official oil prices averaging 18 dlrs a barrel
the company also owns or has an interest in 142 mln acres of oil and gas exploration land in the province of alberta the heart of canadas oil industry
essentially what it domes loss does is put more focus on the importance of the restructuring and puts more pressure on creditors to agree to the debt rescheduling said an oil analyst who asked that he not be identified
the aspen institute for humanistic studies a private group also called for new research for oil exploration and development techniques
he declined to officially confirm or deny that the petroleum council had recommended deregulatory measures but said that in principal miti would encourage a move towards deregulation
world group turnover comprised domestic sales 1083 billion vs 1080 billion foreign sales 2718 billion vs 3192 billion
but while the terms are in line with the market they are somewhat tight bankers said
they said this meant the ex im bank would grant the credit as part of a package with money from the international monetary fund and private banks
but the dollar then fell on speculative selling by trading houses they said
waxman industries inc is raising 25 mln dlrs through an offering of convertible subordinated debentures due 2007 with a 6 1 4 pct coupon and par pricing said sole underwriter drexel burnham lambert inc
new immigration rules relating to alien farm workers and reportedly being drafted by the us agriculture department are meeting with objections in congress sources on capitol hill said
ec links agricultural trade talks to other reform
american travellers corp said it has entered into an agreement to purchase isl life insurance co of dallas a corporate shell with active licenses to operate in 12 states for about 400000 dlrs
turkey bought an estimated 100000 tonnes of white sugar from three trade houses today for april to june shipment according to trade sources
el paso electric co said it plans to redeem its 40 mln dlrs of 1635 pct first mortgage bonds of 1991 and 60 mln dlrs of 1620 pct first mortgage bonds of 2012
the result is in line with the declining trend in the growth rate since october the institute said
sept nov lower mississippi river memphis cairo 137 1 2 pct bid 145 offered with sept dec same section 125 pct bid 135 offered no comparison
the bank said the cut was due to an inflow of foreign currency in march following stabler currency relations after januarys ems realignment
he said the charge results from pre operating expenses of its recently opened atlantic city nj showboat hotel casino and bowling center and will cause a loss for the third quarter and probably for all of fiscal 1987 as well
this budget was incredibly bullish for the gilts market morgan grenfell and co ltd economist stephen bell said
baker seeks more bank loans to developing nations
a greek based international consortium north aegean petroleum co had given up plans to start searching for oil in international waters east of thasos island it said
according to customs figures cotton exports rose to 558089 tonnes in calendar 1986 from 347026 in 1985
ugandas total foreign debt is estimated at some 15 billion dlrs
in japan the government maintains a price stabilisation zone system for beef and pork to support domestic producers
company also gained 24 mln dlrs or four cts a share in fourth quarter 1986 and 159 mln dlrs or 26 cts a share in full year 1986 from adoption of accounting rule sfas 87
creditanstalt bankverein cabvvi the largest commercial bank in austria has arranged a 100 mln stg certificate of deposit program banking sources said
the company said it continues to hedge the balance and seek opportunities to repurchase below par an increasing percentage of the bond issue
the us had pressed for virtual veto power over iadb loans which were made on terms washington considers far too lax
it was boosted by a three billion mark rise in mortgage business and a 11 billion mark increase in banking business
zehntel inc said it filed a registration statement with the securities and exchange commission covering a proposed public offering of 135 mln dlrs principal amount of convertible subordinated debentures
pork production in 1986 was up 42 pct to 1725 mln tonnes slightly below earlier estimates it said
applied circuit technology acrt 1st qtr loss
us exporters report 900000 tonnes corn sold to the ussr for 1986 87
it said operating results will fluctuate quarter to quarter depending on the timing of significant payments from commercial partners
bear stearns and co inc signed a similar standstill agreement with bally for three years bally said
pillsbury psy files for second burger king mlp
in late march sosnoff said he had received a negligible number of shares in response to the offer which had been rejected by caesars as inadequate
pakistan to retender for rbd palm oil tomorrow
in a letter calling for the special committee meeting washington charged france west germany the uk spain and the ec commission with unfair practices on behalf of airbus
but i am looking at it in terms of the economy she said she was not trying to oppose official policy
for the third quarter ended sept 30 1986 zenith reported a loss of 3451000 dlrs or 16 cts per share adjusted for a may 1986 2 for 1 stock split
china has warned that this years harvest will be affected by drought in many areas
a university of massachusetts finance professor said he raised his stake in banc texas group inc to 45340 shares of 14625 dlr cumulative preferred stock or 74 pct of the total from 30300 shares or 50 pct
hokkaido takushoku bank ltd is issuing a 100 mln dlr convertible eurobond due march 31 2002 paying an indicated coupon of two pct lead managed by takugin international bookrunner yamaichi international ltd said
the company said the swap will be tax free
morgan stanley international is the other joint lead bookrunner and appears on the left in documentation
talks fail to end brazilian seamens strike
first control of credit in britain rested on interest rates alone due to the freedom of its financial markets
fluorocarbon co fcbn 4th qtr jan 31 net
the banks plan also emphasises retail and medium and small sized business operations he told 
the new inra is to replace the current one which expires in october
interest surplus 8979 mln marks vs 9811 mln
japan will invest 24 billion yen in pt indonesia asahan aluminium in addition to the 683 billion yen already invested in the company
egypt has cancelled its export bonus tender for 200000 tonnes of soft red winter wheat for may june shipment after failing to bid a price acceptable to usda private export sources said
his comments were not discouraging but they didnt in our judgment promise any immediate action on eep an official with the wheat group said
the seasonally adjusted rise in starts included a 51 pct increase in september single family unit starts to 1168000 from 1111000 in august
we are concerned about the backlog of other financial packages and would like to see these move ahead soon he said there is some evidence that this is already happening
4th qtr ended march 31
standard bred pacers stbd yr loss
the payment date is may 11 and there will be a long first coupon period
vice economic minister wang chien hsien said the surplus will rise to about 20 billion dlrs by the end of the year
according to the terms of the deal ranco holders will receive 40 dlrs a share in cash
under the agreement each outstanding share of unicoa common stock will be converted into one share of united common stock
totaling 533 mln dlrs this floating rate class contains a so called catchup provision that allows investors to recapture possible lost interest according to kidder peabody
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
novamin inc said it received a proposed takeover offer from breakwater resources ltd involving a swap of one breakwater share for two novamin common shares
brunswick bc sees higher 1987 first quarter
the organisations executive and marketing committees reviewed the current market situation during a series of meetings here late last week but took no major decisions
refineries should operate near 75 pct of capacity given the current level of demand but the operating level should increase as gasoline demand picks up in the next quarter buckler said
the question is how far and how fast yeutter said
nippon life staff will also acquire expertise in business sectors which have not yet opened up in japan they added
foreign debtors accounted for 24 pct of this credit volume and latin american debtors accounted for 147 pct of total lending to foreigners
mim will also take another 10 pct now held by degussa ag reducing degussas share to 30 pct from 40
mining output rose 01 pct after a 16 pct increase in january but was still six pct lower than a year ago
us trade representative clayton yeutter said he plans a july trip to china to discuss trade issues including chinas admission to the general agreements on tariffs and trade
jacobson jcbs votes split increases payout
the price of quicksilver on the london metal exchange hovered around 200 dlrs this week
but dealers said shares of deutsche bank ag dbkgf had been strong in recent days partly on hopes that the issue would allow the bank to place its fiat quota with investors at a reasonable price
non callable for seven years this issue was doubled from an initial offering of 150 mln dlrs merrill said
preliminary estimates put net public sector injections for 1987 88 year at 21 billion dlrs
the acquisition which is subject to board approval and a definitive agreement is expected to be concluded during may
marks work wearhouse mwwto 1st qtr loss
a winter storm warning was issued this morning over central and northeast nebraska
this extension of the expiration date is conditioned on no person acquiring beneficial ownership of 20 pct or more of gencorps common stock prior to april 3 it said
shr 12 cts vs eight cts net 1440000 vs 830000 revs 159 mln vs 112 mln avg shrs 12342000 vs 10826000
crown resources corp said it plans to sell its oklahoma based oil and gas unit as part of its strategy to focus on developing precious metals properties
two brazilian shipping firms settle with strikers
cpc international inc cpc regular dividend
revenues fell to 532807 dlrs from 769465 dlrs a year ago
shr 17 cts vs 16 cts net 1315000 vs 1161000 revs 432 mln vs 365 mln avg shrs 7916000 vs 7490000 nine mths shr 50 cts vs 51 cts net 3899000 vs 3821000 revs 1237 mln 1046 mln avg shrs 7808000 vs 7491000
indonesia finds new offshore oil and gas resources
once exercisable each right would entitle a holder to buy 1 500th of a share of datacard series a junior participation preferred stock for 35 dlrs
far west financial fwf to buy progressive
african states agree to regional tariff cuts
twa has said the stake amounts to about 15 pct
therefore it is crucial that a vehicle for selling the paper be found
oper shr loss 20 cts vs profit 66 cts oper net loss 1995000 vs profit 5820000 revs 652 mln vs 530 mln avg shrs 9891000 vs 8811000 note 1986 loss excludes extraordinary loss of 2413000 dlrs or 25 cts shr including corporate reorganization discontinuing of us operations and inventory writedown of us subsidiaries vs yr ago loss of 3140000 dlrs or 36 cts shr
the bond issued at 9830 pct will have interest based on the annualised money market rate tam with the first coupon paid on april 6
imports of soybeans would be unaffected because they are imported primarily to satisfy the ecs cakes and meals requirements which are not covered by the stabilising system
canada southern petroleum ltd csw 2nd qtr loss
the company said it has completed mining the crown pillar which has produced 71000 ounces of gold since 1983
the number of new non farm jobs rose by 337000 in february after a 319000 gain in january and a 225000 december increase the government said
rice and wheat farmers in china wheat and sugarcane growers in australia and tea planters in sri lanka all face serious losses to their respective harvests unless rains arrive in time to break the droughts offical reports government officials and meteorologists said
1987 nine mths results restated for pooled acquisition of bidtek inc
merrill was the arranger for that program and will act as one of the dealers along with salomon brothers international ltd and swiss bank corporation international ltd
at an opening address to the annual meeting of the inter american development bank here baker is likely once again to bluntly reject alternative approaches like wholesale debt relief
it described the purchaser as a subsidiary of a company in the communications field which is one of the 100 largest us corporations
the three year loan carries interest at 1 2 point over three or six month singapore interbank offered rate sibor the lc facility costs 10 basis points over sibor and the bonding facility 50 basis points
algeria is tendering tonight for 225000 tonnes of hard red winter wheat at 9400 dlrs per tonne c and f the balance of its original tender under the export bonus program us exporters said
hre properties hre cuts quarterly
hutchison sees higher payout satisfactory profits
in canada economic growth is expected to pick up slightly to around 275 pct in 1988 from 25 pct this year but will still be below levels seen in recent years
prices recovered to keep pace with higher cash prices
the sale of the tranche of 8 3 4 pct treasury bonds due 1997 occurred in an active bullish gilts market as downward pressure on money market rates remained intact with the bellwether three month interbank rate down 1 8 point at 10 9 7 8 pct
the office said final figures for march will be released in about 10 days
malta is tendering to buy 3000 tonnes white sugar today for arrival in two equal parts in may and june traders said
according to the information of state monitoring organs the padding of figures makes up one and a half to three per cent of the volume of production alexei sergeyev told the official newspaper sovetskaya rossiya
asked what factors might destabilize the markets the official cited a lessening of market fear about intervention a completely unexpected change in the economy of japan the us or west germany or resumption of comments by government officials seeking to talk the dollar up or down
ccc credit guarantees to el salvador reallocated
the committee also dropped a provision identifying which countries would be the focus of the trade missions activities
usda asks tight insect rules for grain shipments
iran soviet union to swap crude refined products
but seng said the cut will not benefit consumers or us meat exporters because of japans rigid and complicated distribution system and strict supply control by the lipc
among individual states texas and oklahoma reported the biggest gains in drilling last week with increases of 21 and 11 respectively
it said there is significant potential for the discovery of additional ore
us commerce dept opposes foreign takeover ban
y dlrs per cwt 100 lbs na not available
canadian golds have been the top performing index this year he noted
the weight of opinion is that in a year from now there is a higher probability there will be one pct higher than one pct lower interest rates he said
revolving credit in february rose 104 billion dlrs after falling by 23 mln dlrs in january
part of its stake is in options
the fda responded to the asa in a letter saying it would consider the petition as a comment to a proposed rule dealing with cholesterol and fatty acid labelling of foods
the group had joined with the moran group which last year assembled a combined 44 pct stake in zondervan during its unsuccessful takeover try
the company said the contract calls for continued production of general instruments family of electronics warfare systems for application in naval aircraft
shr profit two cts vs loss 12 cts net profit 156726 vs loss 776000 revs 1157883 vs 890138
uk money market given 40 mln stg late assistance
the united states may soon ease its 1987 sugar import quota of one mln short tons by bringing forward to the third quarter some shipments scheduled for the fourth quarter of 1987 jerry huckaby a leading congressman representing sugar growers told in an interview
brand companies inc said it expects to report a 1987 first quarter loss of 15 to 17 cts a share on revenues of 20 to 22 mln dlrs
the new international natural rubber agreement inra is expected to be formally adopted on friday
but speaking of the pact tender rate next week schlesinger said since the central bank council gives its opinion on this theme only every 14 days this is hardly probable euromark rates scarcely responded to the central bankers comments with six months funds ending unaltered at around 3 7 8 pct
edward madigan of illinois
the eurobonds are convertible into the companys common stock at 6675 dlrs per share representing a premium of 275 pct over todays closing stock price american can said
after a disastrous first quarter sand hopes to break even in the current fiscal year shattner said
the offer which will begin on monday and ends june 30 requires that the shares tendered will bring its stake to at least 15 pct
japanese semiconductor manufacturers have complied with the us japan agreement said shoichi saba chairman of the electronic industries association of japan
it also said that based on current trends its largest division should report vastly improved second quarter traffic compared to last year which resulted in a load factor of 457 pct for the second quarter of 1986
no deadline was established for the renewal of the payment
parent company net profit 75445 mln francs vs 6741 mln
reporting members of the national soybean processors association nspa crushed 19416000 bushels of soybeans in the week ended april 8 compared with 20115000 bushels in the previous week and 17160000 in the year ago week the association said
john labatt to issue 125 mln dlrs of debentures
diplomat said it will cut costs by several means including dismissal of 100 workers at its corporate headquarters consolidation of its warehousing and shipping operations and reduction of management salaries
roling of merrill lynch is recommending cyprus minerals co cypm in addition to phelps dodge
medtronic inc mdt sets quarterly
wall street analysts said any of the hollywood film studios which might be interested
the us has said it will not allow iran to use the missiles to choke off oil shipments and has offered its warships to escort kuwaiti tankers past the missile batteries
bank of japan officials said they hope japanese commercial banks will help nigeria overcome its debt problems
shr 16 cts vs 55 cts net 232000 vs 814000 revs 224 mln vs 22 mln year shr 207 dlrs vs 243 dlrs net 3108000 vs 3670000 revs 1067 mln vs 1011 mln note per share figures adjusted to reflect four for three stock split paid march 26 1986
total loans and advances extended by banks in singapore rose in january to 3601 billion singapore dlrs from 3579 billion in december but fell from 3693 billion a year ago the monetary authority of singapore said
talman home federal savings and loan association chicago is full name of company
but processors will start halting production in the next few weeks it they continue to face unprofitable margins they added
shr loss 386 dlrs vs profit 37 cts net loss 24973000 vs profit 2389000 sales 625 mln vs 653 mln year shr loss 322 dlrs vs profit 132 dlrs net loss 20861000 vs profit 8515000 sales 2680 mln vs 2727 mln note 1986 earnings include a provision for restructuring costs of 23675000 dlrs or 366 dlrs a share pre tax and the effect of adoption of fasb 87 which reduced pension expense by 617000 dlrs for the quarter and 1817000 dlrs for the year before taxes earnings include nonoperating income from the effect of nonrecurring gains of 1811000 dlrs in the 1st qtr of 1986 from the sale of its minority interest in plexus corp and 1480000 dlrs in the 3rd qtr of 1985 related to the sale of excess property
shr loss 24 cts vs profit 23 cts net loss 5106000 vs profit 5120000 sales 114 mln vs 204 mln year shr loss 19 cts vs profit 73 cts net loss 4062000 vs profit 157 mln sales 504 mln vs 805 mln avg shrs 217 mln vs 216 mln note 1986 net includes tax credits of 2742000 dlrs in quarter and 5903000 dlrs in year
yang said investment in agriculture fell in 1985 to 99 pct of the provinces total investment from 26 pct in 1978
the motion for retaliatory steps came from a cross section of mps reflecting the strength of feeling inside parliament
consensus builds for world agricultural reform
each bond will carry a warrant permitting subscription on december 14 1987 to a fixed rate bond which will be integrated with the previous issue at an issue price of 9818 pct and with a nominal coupon of 850 pct
dividend on ordinary shares 45 francs vs 42 francs
us commerce depts ortner says yen is 10 or 15 pct undervalued
northern trust ntrs net hurt by brazil loans
the construction bank which is one of four specialist banks in china focuses on infrastructure and heavy industrial projects
the us agriculture department reported the farmer owned reserve national five day average price through april 8 as follows dlrs bu sorghum cwt natl loan release call avge rate x level price price wheat 262 240 iv 465 v 465 vi 445 corn 138 192 iv 315 315 v 325 x 1986 rates
they will be sold both in belgium and abroad
weizsaecker said argentina has had difficulties with the european community over trade barriers and subsidies for grain exports
john hanson savings jhslo 1st qtr net
onic said the drop in french exports to other community countries was due to british competition
it said southwest photo proposed a significant change in terms outlined in the letter of intent signed last month
in other cases exchanges seem to be limiting the distribution of data in order to provide competitive advantage to their own commercial information businesses
it did not give the original bid
dixons then extended the offer until yesterday and earlier today indicated that a substantial number of tendered cyclops shares had been withdrawn leaving it with only 852000 shares or just over 20 pct of the roughly 426 mln cyclops shares outstanding
soybean futures posted sharp gains on the chicago board of trade while corn and wheat were lower
german chemical industry sees lower profits
ecuador may be unable to export oil for up to five months due to extensive damage to a 25 mile stretch of pipeline linking jungle oilfields to the pacific port of balao
arab national bank s net profit fell 178 pct to 1521 mln riyals and provisions were more than doubled to 866 mln riyals
its dissolution will force us to change our way of doing business were sorry to see the co op go by the wayside he said
the bundesbank came into the domestic money market to add temporary liquidity through federal government funds as call money rates rose above 40 pct dealers said
the us has already banned use of use cfcs in aerosols and japan has asked for voluntary restraint but both still use cfcs in industrial processes
the retaliation could be triggered by a requirement that the administration investigate whether us companies were treated unfairly and whether they have been barred from bids on lucrative public works projects such as the eight billion dlr kansai airport construction
the ems has been taking a battering over the last year as the falling dollar has sent funds surging into the dominant ems currency the west german mark forcing ministers to undertake two major realignments of parities within nine months
chatwal told members of the dallas financial community at a lunchtime briefing we go for prime locations everywhere and make sure our leases are very favorable as previously announced the company expects to report 1986 earnings of about 700000 dlrs or 31 to 33 cts a share on revenues of 85 mln dlrs
thai traders plan to establish a company to regulate maize forward trading in what could be a first step towards a commodities futures exchange maize dealers said
jaap klootwijk managing director of downstream unit shell uk oil said refining margins in the first quarter of 1987 were a bit better than the very bad fourth quarter 1986 in november and december in particular refining operations had shown negative margins following the fall in crude and oil product prices he said
trade credits were 210 mln dlrs when garcia took office in 1985 announcing a tough stance limiting foreign debt repayments to 10 pct of export earnings
in that case quotas could come into force during the summer
occidental oxy unit sells division
randol said us crude oil imports will increase 35 to four mln barrels per day by 1990 as consumption rises 15 to two mln bpd and supplies decline two mln bpd
it would be his role to persuade international banks to cooperate in this process
that meant around 290 marks which is the single most important rate to concentrate on and 160 dlrs lawson said
societe generale one of the three largest state owned banking groups said in a statement that its parent company profit for 1986 totalled 800 mln francs up 212 pct on 1985s 660 mln profit
bankers trust international ltd said it is issuing 200000 stg call dlr put currency warrants at an initial offer price of 3125 dlrs per warrant
redman declined to elaborate on what washington was doing but he said an emergency meeting of nato ambassadors in brussels on the subject was only one path it was pursuing
moodys may lower wr grace gra ratings
pay n pak pnp gets two offers for company
since then nearly all the families in the county have built new homes and many factories have gone up last year we lost land to a new railway line xu said
the sterling grace capital management lp group said it is confident financing can be arranged if the japan funds board recommends the groups acquisition proposal
the shift from commodity chemicals may be ill advised
bank of japan calls for long term efforts on trade
that is a far cry from late september when s and p downgraded a 215 mln dlr issue of subordinated sinking fund debentures due 1998 of new world pictures ltd nwp just hours after the pricing
henry ansbacher has 51 pct of adams and porter inc
some traders said the buffer stock manager may delay buffer stock buying until mid or end april when changes in months used to calculate the icco indicator may lift the 10 day average above the 1600 sdr must buy level
the new york mercantile exchange set april one for the debut of a new procedure in the energy complex that will increase the use of energy futures worldwide
imports dropped to an estimated 8794 mln dlrs from 8925 revised from 8912 in january and 9393 in february 1986
but the company said it has not held negotiations with charter crellin and does not intend to initiate further discussions
the dividend is payable april 15 to holders of record on april 3
under the plan coastal would buy the natural gas reserves and pipeline system owned by transamerican in texas for an undisclosed amount
the federal reserve bank of new york will act as the central processing site for reconstituting securities the treasury said
general acquisition co said it was disappointed by gencorps response to its tender offer and questioned how the company might give better value to shareholders
lieberman distributes prerecorded music video movies and other products
he said the us economy should expand by nearly three pct during 1987 aided by higher exports to europe and canada
the first is likely to be for cie generale des etablissements michelin possibly led by credit lyonnais
shr loss 52 cts vs profit 107 dlr net loss 2917000 vs profit 5963000 revs 341 mln vs 403 mln year shr loss 139 dlr vs profit 124 dlr net loss 7749000 vs profit 6946000 revs 1386 mln vs 1862 mln note 1986 net includes certain non recurring charges of about 5506000 dlrs for a number of items
an investor group led by members of the hunt family of dallas texas told the securities and exchange commission it has acquired a 62 pct stake in comdata network inc cdn and may try to influence company policy
amex says bear stearns bought specialist unit
lim who will sign and ratify the agreement on malaysias behalf when he visits new york during his current tour said it was important there should not be a long interregnum between the old agreement lapsing in october and the new one coming into force
fellow opec member venezuela has already agreed to lend ecuador five mln barrels of crude to be repaid in kind after 180 days to help meet its domestic consumption needs
taking the midpoint of 180 mln tonnes as the target and the 1986 87 estimated production of around 151 mln tonnes the gap of 29 mln tonnes has to be made up during the remaining three years of the plan by increasing grain output annually by more than nine mln tonnes
turnover rose by 44 pct to 325 billon guilders
the china daily said all cotton growing areas in south china should be maintained and growing in the north should be concentrated in hebei shandong henan and xinjiang
he said a resurgence of demand from the middle east following the recent recovery in oil prices coupled with persistent demand for power plants in developing countries will help mhi restore its exports to sales ratio to the past decades average of 30 pct
mcdonnell douglas md gets 600 mln dlr contract
but some exporters said that while the conflict would hurt them in the long run in the short term tokyos loss might be their gain
subroto says indonesia supports tin pact extension
there is a 1 4 pct praecipuum
the bonuses were made to gress foods inc 5000 tonnes and serva international ltd 5000 tonnes the subsidies will be paid to the exporters in the form of commodities from ccc stocks
the trade balance showed a 1986 surplus of 332 billion crowns compared with a 158 billion surplus in 1985 the bank said
we are not trying to sell the company
the following proposed securities offerings were filed recently with the securities and exchange commission on line software international inc osii offering of 30 mln dlrs of convertible subordinated debentures due march 15 2002 through drexel burnham lambert inc and donaldson lufkin and jenrette securities corp
the securities are convertible into shares of cbs at a price of 200 dlrs per share which represents a premium of 262 pct over the companys closing stock price yesterday of 15850 dlrs on the new york stock exchange
senate staff members said the bill still in the drafting stages had broad support and was expected to be approved by the committee tomorrow
the bank has a resident office in dhaka and a south pacific regional office in vanuatu
the company said its more efficient operations would be necessary to offset more adverse oil market conditions ahead
compagnie francaise de raffinage cfr will close the visbreaker at its la mede refinery in early april but would not affect crude throughput at the refinery a company spokesman said
after some deterioration the situation and prospects for jamaica improved substantially in 1986 and early 1987 mainly as a result of a decline in energy prices and interest rates and a strong recovery in the tourist sector the imf said
comb co said it acquired for 87 mln dlrs the principal assets of national tech industries inc and telkon corp
the company said shareholders will receive one additional share for each share held at the close of business on march 23 1987 and additional shares will be distributed on april 13 1987
the bank of japan bought a modest amount of dollars this morning possibly around 200 to 300 mln dealers said
shr loss six cts vs loss 18 cts net loss 31896 vs loss 753518 revs 840075 vs 716361 avg shrs 545 mln vs 417 mln nine mths shr loss 25 cts vs loss 55 cts net loss 1271972 vs loss 2115662 revs 2071676 vs 1933562 avg shrs 502 mln vs 385 mln
after an initial dip in reaction to the bank lending data which compared won stg august rise uk government bonds gilts soared as investors continued to flee from plummetting equities into the relative security of government securities
already they said japanese trading houses long term credit and commercial banks brokerages and foreign merchant banks have set up research sections to act as go betweens in deals or find good buys for themselves
the market is still small
transnational industries inc said due to continuing manufacturing difficulties at its alloytek inc jet engine component subsidiary it expects to report a net loss of about 300000 dlrs or 12 cts per share for the fourth quarter ended january 31
it said initial mine output is expected to be about 150 tons of ore daily
central bancshares cbss 1st qtr net
banks are being invited to underwrite the facility at a flat fee of 0325 pct for five mln dlrs 0275 pct for three to four mln and 025 pct for one to two mln
primary eurosterling market booms despite rate cut
the department also revised up the march personal income rise to 03 pct from a previously reported 02 pct
pennwalt corp psm qtly dividend
further she noted that the 27 dlrs tender offer price is 50 pct above the price of electrospaces shares before april 30 when it put itself up for sale
crude energy materials were up 26 pct much less than the 10 pct rise in january
the canadians postponed the original july 1 deadline at the request of the european commission which denmark approached for support
the major challenge to bank profits in turkey came in 1980 when the government faced with its worst financial crisis in 50 years raised domestic interest rates sharply to fight an inflation rate of over 100 pct and launched an export drive
the council meeting which is expected to conclude two weeks of sessions involving various working groups and the council itself was continuing the delegates said
the international cocoa organisation is due to discuss the scheme at a meeting in june and exporters could use the yaounde talks to work out a common position on the issue the sources said
the great lakes could have been open for traffic earlier this month due to the mild winter but scheduled repairs to the welland canal joining lake erie with lake ontario will keep that section closed until the april 1 opening she said
the company said winter is traditionally its slowest season
liberian ship grounded in suez canal refloated
the sources said the revision is still being discussed and required approval by the federal banking supervisory office in west berlin the bundesbank and west germanys four banking associations
the minister was not referring to the us trade data to be released in washington later today
virginia federal and montrose capital said the agreement provides for the conversion of virginia federal from a mutual to a stock association and the purchase of 100 pct of its stock for 20 mln dlrs by montrose
dense pac microsystems inc dpaco 2nd qtr
net includes tax credits of 860000 dlrs vs 285000 dlrs
the sankei shimbun quoted sumita as saying in an interview it reagan bond is a very feasible idea speaking in the context of the effectiveness of such bonds in halting the dollars decline
lord abbett bond debenture fund qtly div 28 cts vs 29 cts prior pay may 5 record april 9 lord abbett us government securities fund daily div 29 cts vs 29 cts prior pay may 15 record may 15 lord abbett tax free income fund national series daily div 67 cts vs 67 cts prior pay may 15 record may 15 lord abbett tax free income new york series daily div 67 cts vs 67 cts prior pay may 15 record may 15 lord abbett tax free income texas series daily div 59 cts vs 59 cts prior pay may 15 record may 15 lord abbett california tax free income daily div of 62 cts vs 62 cts prior pay may 15 record may 15
pakistan is reported to have bought 100000 tonnes of white sugar at its weekend tender from a north korean operator traders said
since the foreign government securities underlying the futures cannot be traded in the united states unless they are registered with the sec settlement and delivery of the futures would often take place in the foreign country the sec officials said
stoltenberg said that everything had been carefully considered
telco systems inc telco 3rd qtr may 31 loss
finance minister roger douglas said eight bond tenders of 250 mln dlrs each are planned for the year ending march 1988
the provisional year on year rise in january was 102 pct compared with a downward revised and provisional 94 pct in december
several latin american countries have initiated schemes to cancel foreign debt by equity swaps or third party buy backs but bolivia would be the first country in the region to make a formal offer to buy back all its commercial bank debt at discounted rates
the key three months interbank money market rates eased about 1 8 point reflecting cautious hopes that the downtrend in uk interest rates will be revived following the reserves news analysts said
the agency said a decline in sales and profits were little offset from the companys retail business
in play is a term used on wall street to describe what happens when a company becomes an unwiling takeover target
the refueling outage is expected to last about 12 weeks and will include a variety of maintenance as well as the replacement of about one third of unit 2s fuel the company said
the company said also before the merger san bar would barry k
about 220 men in rotterdam ports grain sector stopped work this afternoon in an unofficial protest at the slow progress of negotiations over a new work practice agreement a spokesman for the port and transport union fnv said
ownes illinois holdings corp filed with the securities and exchange commission for debt offerings with principal amounts totalling 205 billion dlrs
calgary based domes restructuring plan would allow creditors to convert debt to common shares under a formula yet to be negotiated
richard grassgreen president of the company said earnings per share are expected to be between 97 cts and one dlr in comparison to 75 cts earnings per share for the fiscal year ended august 29 1986 and 80 cts for the trailing 12 months ended november 1986
foreign firms hope to join japan telecom company
revlon group inc told the securities and exchange commission it had net profits of 16465000 on sales of 161 billion dlrs for the year ended dec
norway issues 60 billion yen eurobond
gowland said transcanadas offer is probably a fair price for the companys 361 mln acres of oil and gas land holdings
the cattle are for delivery during march 9 september 30 1987
concepcion said at the start of the taupo meeting that the uruguay round was meant to be a shining act of faith in the world trade system
the current account deficit is expected to fall from 75 pct of gdp in 1985 86 to 45 pct in 1986 87 and 25 pct in 1987 88 the current account deficit is forecast to shrink to 132 billion nz dlrs in 1987 88 from 240 billion in 1986 87 and 333 billion in 1985 86
of all corporate ratings changes during the quarter 66 pct were downgrades compared with 55 pct during all of 1986
other income 629 mln vs 1005 mln shrs 22316 mln vs 18368 mln
frawley is on a gulf tour which will also take him to saudi arabia the united arab emirates and kuwait to assess market potential
shr 164 dlrs vs 156 dlrs net 4583000 vs 5313000 revs 201 mln vs 19 mln avg shrs 28 mln vs 34 mln year shr 506 dlrs vs 592 dlrs net 16 mln vs 203 mln revs 746 mln vs 68 mln avg shrs 32 mln vs 34 mln
this is very much a safety first budget in order to get interest rates down he said
it was unlikely the government would announce its decision on heidrun operatorship until after thursdays cabinet meeting and after discussing a proposed solution with both companies the sources added
funds raised in excess of the governments budgetary needs will not be channelled into increased spending but will be recycled back to the financial system largely through the mas hu said
but quotas must be negotiated sometime he said
krieger said the committee is empowered to call a strike if it sees fit but he added were not gun shy and were not strike happy we dont take it lightly he said the union needed time to draft a formal response to the nbc proposal which the network billed as its best and final offer a spokeswoman for nbc said management personnel were prepared to take assume technical duties if its radio and television facilities are struck
canadas state run export development corp said it arranged a 15 billion yen offering of 4 1 2 pct notes due aug 28 1992 its first euro yen offering
if it decides to keep the mine open it would take four or five months before it could resume full production
the oecd said that the dollar fall had led to rising inflation expectations and higher interest rates in the us combining with world trade imbalances and the huge third world debt problem to increase the risks of a world economic downturn
theres a whole lot more rich guys who sell cars than that make cars he says
the group also said paul koether met on june 8 with management representatives for talks that included the companys business potential acquisitions for the company possible opportunities to expand the company and the possibility of koether being named to its board
we have to introduce some common sense into the discussion machinea said this week in cambridge mass
us says canadian israeli pacts should spur trade
shr profit one cts vs profit four cts net profit 27490 vs 89687 sales 2899189 vs 2785931 nine mths shr loss four cts vs profit nine cts net loss 78038 vs profit 184062 sales 8785918 vs 8273913
both had interest in stabilising prices and supplies xuto added
the level of investment for the proposed lowering of sulfur level of diesel to 005 pct by weight for example is unacceptable dunham said
mason benson former president and chief operating officer of empire of carolina inc a toy maker today was sentenced in manhattan federal court to a year and one day in jail for his involvement in a kickback scheme
it also said it has undergone a restructuring of its management and is instituting further staff reductions
the issue will be sold in denominations of 1000 and 10000 marks and listed in frankfurt
recent us oil demand up 21 pct from year ago
malaysia is a member of the association of tin producing countries atpc which produce 65 pct of world tin
several of the regional banks that will meet with volcker tomorrow declined to comment because the talks will be held at the feds suggestion
sharon said that as of march six 316 pct of the 135 pct notes and 209 pct of the 1425 pct notes were tendered
we hope the weak price will be overcome and predict the price will be better in the third and fourth quarters refiners he said appeared to have used up old stock deliberately to cause slack demand in the market and the price to fall
the reagan administration facing an uproar in congress over the apparent lack of progress in cutting the 1698 billion dlr trade deficit is learning now that to extract results from japan dramatic action is required
moodys said this reflected the strengthening of terms in a revised net worth agreement between gemico and its immediate parent general electric credit corp whose long term unsecured debt is also a top flight aaa
economists said that they doubt the federal reserve is firming policy to aid the dollar despite higher discount window borrowings in the latest two week statement period and very heavy borrowings wednesday
azpurua said a credit agreement for 100 mln marks will be signed this week with the german state bank kreditanstalt fur wiederaufbau kfw to finance an expansion of the state aluminum company venalum
the issue is available in denominations of 1000 and 1000 ecus and will be listed in luxembourg
national distillers earned excluding the liquor businesses 221 dlrs per share for 1986
banca della svizzera italiana biszz said it planned a one for 12 rights issue at 300 pct of nominal value to raise about 50 mln francs new capital
the department forecast argentinas 1986 87 soybean crop at 770 mln tonnes vs 770 mln last month
myers industries inc mye 1st qtr net
holders of sobeys class a non voting shares and class b common shares may elect to receive either 16 non voting class a empire shares or one non voting class a empire share and one half of an eight pct redeemable retractable preferred share
corporate mergers and acquisitions in and around san francisco over the past seven years have had only a modest effect on the metropolitan areas economy a leading business backed organization said
anitec image technology corp is raising 75 mln dlrs via an issue of convertible subordinated debentures due 2012 with a 5 7 8 pct coupon and par pricing said lead manager smith barney harris upham and co inc
us treasury official sees latin debt progress
lead manager is swiss bank corp international ltd heading a syndicate with co lead managers nmb hambros bank limited morgan guaranty limited and sg warburg securities
the issue has denominations of one mln guilders and maturities ranging from two weeks to one year
french foreign minister jean bernard raimond predicted in a published interview a successful end to negotiations to admit gulf petrochemical exports into the european community ec negotiations have been under way between the community and the six nation gulf cooperation council gcc for three years
he said rumors of the spin off had been around for a couple of days baker said the unit was very profitable but it wasnt getting the type of exposure atlantic richfield sought and its value was not reflected in the companys stock price
irna said he gave no explicit reply when asked if the attack would prompt iran to block the hormuz strait at the entrance to the gulf
investors may demand disclosure of information chinese institutions are unwilling to give he said
taiwan will tender thursday march 26 for a total of 356000 tonnes of us number two yellow corn 145 pct moisture for various sept dec shipments via gulf or pacific northwest ports us exporters said
the surplus on commission business which had soared by a quarter in 1985 rose by 116 pct last year thanks almost exclusively to growth in securities commissions seipp said
standard products co std raises quarterly
shultz told the foreign ministers of brunei indonesia malaysia the philippines singapore and thailand the us would cut its huge foreign trade deficit more rapidly than many now believed
security spc users end merger talks
1986 year net includes pretax gain 172 mln dlrs from sale of foreign subsidiary
fees comprise 1 1 2 pct selling concession and 1 2 pct each for management and underwriting
but bakers statement that he had made progress in negotiating reforms came after a weekend meeting of the banks policy making board of governors at which the reform issue was put off until next june because of deep differences between washington and latin borrowing countries
council of economic advisers chairman beryl sprinkel said the reagan administration remains strongly opposed to a tax increase including 18 billion dlrs of new revenues in the budget plan by congressional democrats
consumer members were not unified in their views on how the buffer stock should operate with several countries backing different aspects of the producer stance delegates said
fees comprise 1 1 4 pct selling concession and 5 8 pct management and underwtriting combined
the order backlog fell eight pct the third straight quarterly decline and ended three pct under the year earlier level
major purchasers for the current season were south korea japan taiwan and thailand while south korea and indonesia were the major buyers for the 1987 88 season which begins august 1
shr 157 dlrs vs 160 dlrs net 557 mln vs 565 mln revs 37 billion vs 36 billion year shr 379 dlrs vs 411 dlrs net 1445 vs 1545 mln revs 140 billion vs 139 billion note 1986 4th qtr and yr per shr amts includes reduction of 15 cts per shr for establishment of reorganization reserves
dealers expect volume of the tender to be lower than the 152 billion marks flowing out to offset other incoming funds
national computer systems inc said it agreed to acquire deluxe check printers incs dlx 38 pct stake in data card corp
strathcona resource srhto 3rd qtr aug 31 net
there is likely to be a shift to short term bank deposits by long term depositors bankers predicted
spains broad based m 4 money supply rose at an annualised rate of 167 pct in february against 81 pct in january and 224 pct in february last year bank of spain figures show
under the agreement vertex also said it would supply computer with 250000 dlrs of operating funds and arrange renegotiation of its secured bank debt among other things
international technology itx makes acquisition
shr 28 cts vs 21 cts net 4653815 vs 3564451 revs 340 mln vs 128 mln nine mths shr 61 cts vs 53 cts net 104 mln vs 8881825 revs 618 mln vs 384 mln note per shr amounts are after giving retroactive effect for a 2 for 1 split effected as a 100 pct stock dividend which was paid june 1 1987net includes net realized investment gains of 1213471 vs 937801 in nine mths 1987 vs 1986 and 604172 vs 474556 in qtr 1987 vs 1986
texas international tei retires some notes
we have to keep wages as low as possible he said
federal reserve monetary policy the gramm rudman hollings legislation the g 6 agreement and the baker debt initiative for example all have moved us in the right direction he said
fed adds reserves via three day repurchases
an additional 8500 tonnes of frozen poultry remain available to egypt under the export enhancement program initiative announced dec 19 1986 and feb 27 1987 the department said
shr profit primary 91 cts vs loss 86 cts shr profit diluted 90 cts vs loss 86 cts net profit 787000 vs loss 751000 sales 20 mln vs 125 mln year shr profit profit 263 dlrs vs profit five cts shr profit diluted 259 dlrs vs profit five cts net profit 2273000 vs profit 43000 sales 701 mln vs 471 mln note prior qtr and year figures include gains on disposal of discontinued operations of 76000 dlrs and 79000 dlrs respectively
shr loss 40 cts vs loss 472 dlrs net loss 3321000 vs loss 420 mln revs 4002000 vs 7788000 avg shrs 9168522 vs 8974355 year shr loss 420 dlrs vs loss 471 dlrs net loss 372 mln vs loss 411 mln revs 184 mln vs 341 mln avg shrs 9168522 vs 8991184
general public utilities corp said the water clarity problem delaying the removal of fuel from the damaged unit two of the three mile island nuclear power plant appears to have been resolved
southwest swf stone sto comply for merger
but growth prospects in 1987 remained weak and 1986 results are unlikely to be repeated in the current financial year
the bank of england said it had revised its estimate of the shortage in the money market up to 13 billion stg from 12 billion before taking account of its early operations
teeco properties lp oper income down
gatt to debate us charges of airbus subsidies
the student loan marketing association announced an offering of australian 100 mln dlrs approx
period ended april 30 shr 71 cts vs 42 cts shr diluted 62 cts vs 38 cts net 2629704 vs 1721384 revs 395 mln vs 320 mln
cxr telcom corp and torotel inc agreed in principle to settle pending litigation regarding the sale of torotels former halcyon communications inc unit to cxr in march 1986 the two companies said in a joint statement
as a result of the transaction the company said it now owns 100 pct of the system in cincinnati
it wasnt until last wednesday that it turned into an avalanche he said
baker said that the other signatories recognized that they must carry their share of the load of correcting external imbalances that have hindered the worlds economy
the pentagon said the 12th us protected convoy began moving through the gulf early tuesday
australian beef output is forecast to decline to 134 mln tonnes carcass weight in 1987 and 136 mln in 1988 from 144 mln in 1986 the australian meat and live stock corp amlc said
testifying at a house subcommittee hearing on livestock issues rep
top discount rate at uk bill tender rises to 95261 pct
symtron had 1986 sales of about 20 mln dlrs
its a sad affair he told the cambridge meeting
commerce minister mohammad abdul munim said the changes were aimed at encouraging export oriented industries to boost foreign exchange earnings and imports of essential machinery and raw materials to increase industrial production
selling six flags is definitely under consideration peltier said in response to an inquiry
canadian imperial bank of commerce 1st qtr share basic 61 cts vs 64 cts
technical factors making for a slight shortage of liquidity in the market included the settlement yesterday of the latest monthly treasury tap stock tender on march 5 market sources said
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
shr eight cts vs one half ct net 508000 vs 21000 revs 72 mln vs 74 mln nine mths shr 28 cts vs 11 cts net 1523000 vs 567000 revs 262 mln vs 226 mln note period ended february 28
dart said another issue was to agree to future severance obligations and future salary guarantees for top management estimated at more than 15 mln dlrs in excess of obligations under the companys present policy
european coffee roasters and traders have agreed to propose a new formula for calculating international coffee organization ico quotas dutch coffee trade association chairman chairman frits van horick said
twa said it made the statement today on its stock position in usair in response to inquiries
however he said that when the household mortgage co does make fixed rate mortgages it is likely to securitise them
although each industrys competitiveness affects the level of imports and exports in that industry in general we find that there have been no significant industry specific changes affecting competitiveness that would explain the increase in the overall trade deficit the study said
the japanese government has sent a long questionnaire to public institutions like universities which buy the sophisticated machines in hopes of eventually setting up informal bidding procedures easily understood by all potential sellers officials said
sun alliance reports sharp profit rise
the selling concession is one pct while management and underwriting combined pays 5 8 pct
the price of gold bullion is likely to rise in the second half of the year on increased private investor demand west german analysts said
the united states remains committed to the louvre agreement reagan said in a statement following a meeting with his top economic advisers
the commerce department reported today that new orders for durable goods in february jumped by 57 billion dlrs a six pct rise to 1012 billion dlrs
exports of goods and services rose 153 billion dlrs after a decline of 94 billion dlrs in the third quarter
weve had two very strong employment reports he also said federal reserve policy is appropriate adding it looks like theyre on track while further reductions are needed in the trade deficit sprinkel said the lower dollar is having an impact
earlier today mts said it held talks with pratt hotel corp prat and southmark corp sm on forming a venture to acquire caesars
roadway motor plazas inc 3rd qtr jan 31
of this total 73 billion was raised on the public capital market
the group which includes reliance financial serivces corp a subsidiary of reliance group holdings inc rel said it bought the stock as an investment
moodys may lower atlantic city electric ate 
qtrly div 26 cts vs 27 cts prior payable april 27 record april 10 note full name of company is cpl real estate trust investment
some analysts also question the central banks decision not to copy the latest bundesbank discount rate cut and instead lower money market rates and abolish a credit quota surcharge
he said the latter would be based on more optimistic expectations for the broadcast industry
within one year after passage of the measure another eight countries would have to be visited peru kenya the dominican republic costa rica malaysia venezuela tunisia and morocco
the amount by which the rebate fell short of what producers claim is needed to obtain an equivalent price to that for sales into intervention remained at 087 ecus per 100 kilos they said
analysts continue to view the bass family as a factor in the outcome of the bid for control of american medical
philippine secretary of trade and industry jose concepcion who two days ago expressed doubts about agreements produced at international conferences said he was pleased with the latest gathering here
chairman john hall who also spoke at the meeting advocated some form of federal tax incentives to help spur development of synthetic fuels
their concerns include the countrys high rates of interest and tough restrictions on imports
compuscan inc cscn 3rd qtr feb 28 net
lead underwriters are american express cos axp shearson lehman brothers inc and donaldson lufin and jenrette securities corp will be lead underwriters
first union corp said it completed the acquisition of two florida based banks north port bank based in north port and city commerical bank based in sarasota
the finance ministry is trying to eliminate technical obstacles so as to encourage purchases of japanese treasury bills by foreign governments and central banks in order to increase overseas holdings of yen assets a senior finance ministry official said
other results released so far show saudi american bank samba reporting a 538 pct fall in 1986 net profit to 807 mln riyals while al bank al saudi al fransi known as saudi french slid 14 pct to 949 mln riyals
the treasury department is due to release funds for the brazilian coffee institute ibc to pay for the coffee purchased from local producers the ibc said in a statement
it said the lifting of the restrictions reinforces the international status of the lira and meets the requirements expressed several times by foreign exchange dealers
south korean finance minister chung in yong will resist pressure for a currency revaluation to cut south koreas trade surplus with the united states when he meets treasury secretary james baker next week finance ministry officials said
waste management said it refused to agree to the requested preconditions
brazil is increasingly isolated on the producer side
funaro said that during his recent trip to the us europe and japan to explain brazils decision last month to suspend interest payments on 68 billion dlrs of commercial debt he stressed the countrys commitment to growth
freeport mcmoran oil and gas fmr payout rises
in its economic forecasts anz said it expected moderate overall economic growth with gross domestic product gdp rising 27 pct this year and 24 pct in 1988
general electric is the successor obligator to rca
he called the present situation more difficult and in a draft proposal included in the task forces report suggested setting up an institution possibly within the world bank with a fund that could deal with a future debt crisis
the amount of these credit lines totals 15 billion dollars and deadline for payment is set for march 31
government officials in malaysia a major cocoa producer have declined to say whether it will join the international cocoa agreement icca for which buffer stock rules were agreed in london last week
and while banks in more liberal financial markets can attempt to diversify away from traditional lending conservatism in saudi banking has made it difficult to generate fee income from new investment banking products
del rosario said the 14 mln b shares in the block which are open to foreign ownership would probably be sold to unidentified foreign purchasers
linear films inc said it sees lower earnings in the fourth quarter ending march 31 compared with a year ago due to lower profit margins on stretch film from price increases of polyethelene resin a key raw material
wage increases are being offset by productivity growth
ec sugar tender seen as concession to producers
freedom savings and loan assn frdm year end
wessanen foresees strong profit growth
the market is mindful of approaching summer holidays in industrial countries and there is an air of uncertainty beyond july it said
over the past three years the banks disbursement pipeline to the philippines almost completely dried up in 1986 alone the two banks paid out 16 billion pesos in loan repayments about 59 pct of the governments budget deficit of 27 billion pesos for the year they said
this was achieved despite a 25 pct drop in the dollars guilder value van driel said
reed international plc reedl said it had no comment to make on uk stock market rumors that harcourt brace jovanovich inc hbj may make a bid for the company in order to escape unwelcome offers from robert maxwells british printing and communication corp bpcll a spokeswoman for reed said earlier analysts forecasts that a bid for reed will have to be about 700 mln stg were totally unrealistic adding that its current market is about 27 billion stg
this is in accordance with its normal policy
lending by the saudi industrial development fund a major source of industry backing has fallen steadily since 1983
standard and poors corp said it affirmed mack trucks incs 40 mln dlrs of bb plus senior debt
sudan also has an incentive rate of four pounds to the dollar for foreign visitors and remittances by expatriate workers
daily telegraph in deal with news international
italys state owned ente nazionale idrocarburi eni will invest 197 mln dlrs in two joint ventures in coal and petrochemicals with petroleos de venezuela sa eni president franco reviglio said
in a washington address to an export import bank sponsored meeting ortner said he believed the dollar at current levels was fairly priced against most european currencies but that the yen is 10 or 15 pct undervalued
weve been sitting back and waiting on two federal administrations to develop a coherent energy policy for the nation to follow
private exporters concluded advance weekly sales for 22086 tonnes against 44483 tonnes the previous week
he said stocks at 90000 tonnes were about average for the time of year
amatil in which bat industries plc btil holds a 41 pct stake said it does not expect to maintain its latest annual dividend rate of 29 cents a share on the enlarged capital
husky previously announced shareholders will have the option to receive 1180 canadian dlrs cash for each common or 6726 dlrs cash and one common share of oil term investment ltd which will be controlled by nova through oil term holdings and own an insterest in husky
everything else is nothing but speculation he said
the company said the acquisition is still subject to 30 day review by the us justice department and is expected to be completed in the second quarter
chinas fifth securities market will open on april 1 in the industrial port city of tianjin the peoples daily overseas edition said
the imf study also examines the course of the dollar and the curious lack of impact it has had on the us trade deficit
bionomic sciences international inc bsii loss
this compares with a year earlier surplus of 9589 mln rand
danish based insulin and enzymes producer novo industri a s nvoco said pre tax earnings fell almost 10 pct in 1986 though sales rose by two pct
its going to be a long and tedious process but thats whats happening he said
bankers said that while these rates would reduce a banks return they would still be more than those proposed about a year ago when the government attempted unsuccessfully to initiate another cost reduction plan
lawson wants sterling around 160 dlrs 290 mks
the market seems to have established a new dollar trading range between 147 and 149 yen one dealer said
on february 25 1985 the dollar peaked against the yen at 26315 yen
thai and foreign bankers said the liquidity problem will grow if the bank of thailand does not extend permission for local banks to hold foreign exchange positions up to 40 pct of bank capital
the protesters blamed finance minister lesly delatour for the closure saying his policies have hurt haitian businesses
shr loss 26 cts net loss 1277737 revs 37 mln note full name canadian home shopping network ltd
cash grain dealers reported slow country movement of corn and soybeans across the midwest with even corn sales from pik and roll activity seen earlier this week drying up
a two year extension is possible
the sia is a trade association representing the interests of more than 500 us investment banks and securities firms
all figures are subject to rounding
standard and poors corp said it affirmed the bb plus rating on afg industries incs 185 mln dlrs of subordinated debt
texaco filing adds uncertainty in oil market
there is no controversy over continuation of mfn for hungary and china
stepan co scl 3rd qtr net
an rtz spokesman said the ruling was not worrying as the subsidiary had assumed that the provisions were not deductible from corporation tax payable
us producer prices rose 01 pct in feb after 06 pct jan rise
there will not be a share reserved for foreign investors
japan has said that if reagan imposed the tariffs it would file a complaint with the general agreement on tariff and trade gatt it said hoped gatt would find the us retaliation had violated the regulations of the global trading group and would approve compensation or japanese retaliation
prospect group said it will review its investment objectives regarding brinkmann as warranted by market conditions the companys performance and other factors including discussions with brinkmann management
if el nino picks up momentum perus fishing industry could receive a setback
commenting on 1986 seipp said we were able to raise the full operating profit slightly above the record result of 1985 because own account profits increased slightly he gave no concrete details but added that in january and february good own account trading profits meant that the drop in full operating earnings was more modest than that in the partial operating figure
southmark said it will compute the cash price paid based on the average closing market price of the rights on the american stock exchange for the first ten days the rights are traded beginning april 6
in a lecture at the university of surrey pre released here koehler said that the only alternative to cooperation was protectionism and control on capital movements
pacific said team expects to earn over 80 mln canadian dlrs per year when the acquisition is completed
greater new york savings bank grtro 3rd qtr
healthvest said its board declared a dividend for the final three weeks of the march quarter of 14 cts payable april 28 to holders of recrod april 15
the merger is subject to approval by the companies boards and shareholders and agreement of certain strata creditors among other things said the companies
yulo told a survey during the current milling season which ends next month showed the 1986 87 estimate would almost certainly be met
baker expected to defend debt strategy
south africa problems remain despite debt pact
howard berman d calif would like to see the definition extended to include sugar cane cultivation of which is a breeding ground for one of the scandals of the nation gene smith a spokesman for berman said
showa denko ltd said it is exporting aluminium billet casting equipment and technology to countries that have recently begun aluminium smelting
to achieve brucellosis free status a states cattle population must remain uninfected for the previous 12 months
the somc a group of basically monetarist private economists said that economic growth will accelerate in 1987 in response to powerful stimulative actions by the federal reserve the group said the feds actions have been excessive
the dividend would have been payable may one
delegates from the national pork producers council nppc yesterday approved programs for control and eradication of pseudorabies and establishment of a national safe drug use program
the company also said management will recommend at the june board meeting an increase of 12 cts per share in the current annual dividend rate of 228 dlrs a share raising it to 240 dlrs per share or 120 dlrs a share after the split
bp bp may have to raise bid analysts
he said contacts among members of opec showed they all wanted to stick to the accord
the revolving credit will be for five years and drawings will be at 10 basis points over the london interbank offered rate libor there also will be a 150 mln dlr swingline option available under which drawings will be at 10 basis points over the us prime rate
the company said it plans to open a retail banking office in downtown washington this summer plus several more offices in baltimore county and others in fairfax county va
shr 73 cts vs 55 cts net 1691878 vs 1117747 revs 71 mln vs 49 mln avg shrs 23 mln vs 20 mln note share results reflect two for one stock split in june 1986
dealers said the intervention underlined the determination of central banks to keep currencies within recent ranges following last months agreement in paris by six leading countries to foster currency stability
maryland national said american security shareholders will be entitled to receive the 32 1 2 ct per share maryland national regular quarterly dividend that is payable march 31 to holders of record today
capacity use was high at the parent company in 1986 resulting in a decline in marginal unit costs
dart said it requested the information before its meeting with sgl representatives but held the meetings in the hope representatives would reach an agreement
caisse centrale desjardins du quebec is issuing a 10 billion yen step up eurobond maturing on march 25 1992 and priced at 101 3 4 pct joint bookrunner warburg securities said
it is definitely a control in the sense that theres no longer complete freedom to operate one broker here said
uk money market given further help at new rates
sheldahl inc shel 3rd qtr may 30 net
zambia imf talks hit problems over food subsidies
second round bidding began at the end of 1984 and only one well has so far produced results lufeng 13 1 1 250 km south east of shenzhen with an output of 6770 barrels a day
long term unemployment defined as being out of work for more than one year affects about 830000 people or one third of french unemployed government figures show
the government is currently negotiating a package of economic reforms with the world bank and international monetary fund aimed at underpinning a renewed inflow of foreign aid to help ugandas economic recovery after 15 years of political strife
wells fargo and co 1st qtr shr 136 dlrs vs 113 dlrs
both bass and linder have acquired taft shares in recent months
quantities offered at the auction also fell to an average of 300 tonnes per auction last month from 800 tonnes in december because of wintering in early february in producing areas
they said the five year issue which matures march 23 1992 carries a 705 pct coupon payable quarterly
the dollars recent decline despite massive central bank purchases is a forceful reminder that official intervention in the foreign exchanges can work only if it is well timed to coincide with shifts in market fundamentals or sentiment dealers and analysts said
uk money market deficit forecast at 400 mln stg
intermark said it already holds 6839827 pier 1 common shares or 3566 pct and its pier 1 holdings inc holds 1484516 shares or 774 pct
violent fluctuations in the pesos exchange rate and the end of a 17 month bull run in local stock markets have triggered dollar hoarding
the bank of england said it revised up its estimate of the deficit in the system today to 13 billion stg from 11 billion
the belgian government has lowered its forecast for the nominal increase in gross national product in 1987 to 35 pct from an originally forecast 39 pct prime minister wilfried martens said in a statement to parliament
industrial equity pacific does not intend to remain a passive investor in calmat the firm told the sec
british petroleum co plc may have to raise its planned 70 dlrs a share tender offer for the publicly traded shares of standard oil co srd analysts said
rabbit software corp said it agreed in principle to merge with cti data inc a privately owned communications company
heavier than normal monthly shipping rates for yugoslav corn exports are due to the increased use of river barges for exporting corn to the soviet union the counselor said
ventra was organized in september 1986 and completed a public offering of 30 mln shares in january 1987
1986 amounts restated to exclude sales and expenses of discontinued operations
he described the situation as extremely tense but said gulf military activity would not significantly affect prices because supply and demand were roughly equal
kenneth blaylock president of the american federation of government employees said a poultry industry recommendation to move away from the current bird by bird inspection could prove disastrous he said a strengthened bird by bird inspection with slower line speeds was the foundation upon which new inspection techniques should be overlaid
retail stores in these two countries will be providing additional funding for the program
s p downgrades dana corps 900 mln dlrs of debt
this will be used to defend a regularly adjusted price range and will be financed equally by importing and exporting members of the agreement
the french cereals intervention board onic will tender wednesday for 20000 tonnes soft wheat for pakistan under the french food aid programme an onic official said
many speculators down here bought march soymeal and sold may looking for no deliveries on first notice day tomorrow which would cause march to gain on deferreds one cbt crush trader said
several hundred vessels have been confirmed hit in the gulf by iran and iraq since early 1984 in the so called tanker war an offshoot of their 6 1 2 year old ground conflict
when you hear code words like structural adjustment and tightening your belt
the company is a defendant in a consolidated class action law suit which seeks damages in an unspecified amount and is also a defendant in a related shareholder action
the miners were willing to negotiate with the government of president victor paz estenssoro but only if it showed an intention to meet the strikers demands
traders said he raised his recommendation of temple inland to a buy to support his earnings outlook of 585 dlrs a share in 1987 and nine dlrs a share in 1988
if the effect of this crash is to produce slower economic growth not recession it contains good news and provides a more realistic assessment of the us economy said capels dennis
the all items index base 1980 rose a monthly 08 pct in january to 2339 after also rising 08 pct in december to 2321 a year ago the index stood at 2036 and year on year producer price inflation at 222 pct
under the guideline the minimum denomination of regulation free large deposits will be lowered to 100 mln yen from 300 mln
p and f industries inc pfina 4th qtr net
taiwan foreign exchange reserves hit new high
lawson also announced that he would henceforth allow certain expenditure on oil related research which does not at present qualify for prt relief to be offset against prt liability
the sugar is being sought for early arrival and will probably be met with april may shipment sugar they added
first boston corp co managed the deal
paper will be issued in discounted note form only and will have maturities between seven and 365 days
dudley taft raises bid for taft broadcasting tfb 
keycorp said richard k
timminco said universal adhesives will complement the companys canadian based industrial adhesives division and is a key step in its long term goal for expansion in the specialty chemical field
don stacy told an oilsands conference that amoco canada has presented the solution to the dome problem and were investing our confidence dollars and determination to make that solution work the amoco buyout of debt burdened dome has angered canadian nationalists who want a canadian buyer for dome
national business loan data are scheduled to be released on friday
qtrly 42 cts vs 42 cts prior pay april 7 record march 20
however west german sources said bonn finance minister gerhard stoltenberg was unenthusiastic about the idea
dealers say fed intervened buying dollars in us 
there are heightened fears that el nino may be returning to peru with an intensity approaching the 1983 disaster which affected the weather on several continents and caused widespread damage through floods and drought the us agriculture departments officer in lima said in a field report
brokers and market analysts said thai stocks will register more gains as long as liquidity remains in the money market
two new eurosterling bonds were launched today making a total of 10 new deals in the sector so far this month as borrowers rush to cash in on a bull sterling market fueled by the strength of the pound and pre budget euphoria
the company said it paid about 70 mln dlrs in cash for the division which will be renamed samuel moore group
the product was introduced in new york new jersey delaware connecticut rhode island massachusetts new hampshire and the philadelphia area late last year
shr 12 cts vs 10 cts net 1683000 vs 1407000 revs 422 mln vs 288 mln 12 mths shr 83 cts vs 70 cts net 119 mln vs 100 mln revs 1603 mln vs 1265 mln note prior qtr and yr ended jan 26
the middle east foreign exchange conference brings together more than 200 traders and bank treasury chiefs from the arab world and arab banks in european and us financial centres
west malaysian net exports are therefore expected to drop 500000 tonnes to 254 mln during jan sept while those of east malaysia are likely to decline by 10 pct to 280000 tonnes
the lay offs represent about two thirds of the original workforce
i hope opec will follow a very conservative attitude in terms of volume decisions lajous said
however approval this year is in doubt because passage of a major trade bill without specific protections for textiles showed a weakening of support for the legislation
the issue of unsecured unsubordinated debt is guaranteed by france
indonesia the only asian member of opec has been severely hit by last years crash in oil prices which cut its oil and gas revenues in half
treasury sources said that baker already unhappy about bonns refusal to stimulate its economy in order to keep the global recovery moving was angered by a bundesbank interest rate boost that seemed destined to do just the opposite
a group led by new york investor asher edelman said he lowered its stake in lucky stores inc lks to 1827734 shares or 48 pct of the total outstanding common stock from 1930734 shares or 51 pct
elsewhere in the far north and the far south of the state and in northern new south wales the cane crop is looking very good after heavy falls this month he said
the countrys palm oil stocks now total some 500000 tonnes against about 800000 last march the growers said
a majority of the senate agriculture committee urged president reagan to reverse his opposition to export subsidies to the soviet union as a way to get its negotiators to purchase some 500 mln dlrs in american wheat
reagan administration officials said later that washington did not seek military confrontation with tehran but would not let iran use chinese made silkworm anti ship missiles capable of covering the narrow entrance to the gulf to choke oil shipments to the west
in real estate first city said its nonperforming assets nearly doubled last year to 347 mln dlrs at year end
gross fees of 1 1 2 pct comprise 1 2 pct for management and underwriting combined and one pct for selling
it will use the proceeds to repay debt finance recent acquisitions and for other corporate purposes
the buffer stock rules agreement reached on friday by the international cocoa organization icco is an improvement on previous arrangements but the price support mechanism is unlikely to do more than stem the decline in cocoa prices many icco delegates and trade sources said
aydin ayd gets air force contract
company repurchased 12 mln shares of its stock during the 1987 3rd qtr
levitt lvt files for debenture offering
japanese term buyers of saudi lpg are expected to lift slightly lower volumes from january 1987 when imports from indonesia are slated to increase the sources said
the official said in the statement that no such emergency session was scheduled because of member countries firm determination to defend the price system agreed in december
it said mining could start in 1988 subject to a satisfactory prefeasibility study
the employers spokesman said they were likely to restart the redundancy procedure afresh next week in an attempt to pre empt the may 7 final court ruling
syndication for elders ixl ltds elxas 100 mln australian dlr note issuance facility has been completed arranger westpac finance asia ltd said
the exchange said delivery will be fob from the sellers pipeline storage or fractionation facility in mont belvieu texas which has a direct pipeline access to the texas eastern transmission pipeline tet in mont beliview
imports rose to 2412 billion dlrs up 26 pct from januarys 2352 billion dlrs and 42 pct above the 1698 billion dlrs recorded in february 1986
ussr to cut coal price for japanese steelmills
national banc of commerce co nbcco 3rd qtr
dollar opens at tokyo record low of 14375 yen
a special meeting between importing and exporting countries ended in a deadlock late yesterday after eight days of talks over how to set the quotas
paper money rose to 4041 billion francs from 3941 billion and 3835 billion respectively other forms of privately held money to 6795 billion from 6527 billion and 6160 billion
nbc is owned by the general electric co ge were instructing all our members to continue working without a contract said john krieger a union official
the switch reduces the total value of gsm 102 guarantees for the current fiscal year to 300 mln dlrs
about 8000 black miners returned to work after a week long industrial action at south africas largest gold mine mine owner anglo american corp of south africa ltd anglj said
bernstein and cos institutional strategy committee raised his earnings estimates to 80 cts a share for the current fiscal year ending in october
the london metal exchange lme has issued a note clarifying details on its new high grade aluminium contract in response to questions from members following the announcement of the contract due to start june 1
rains aid manitoba crops during week
mcdowell me to merger with interpharm inc 
japan the traders said
carson pirie scott and co said the tax reform act of 1986 which repealed investment tax credits had a negative impact of 22 cts a share on earnings for the year ended january 31
diagnostic products corp president and chief executive officer sigi ziering said he expects to maintain the same compound average annal net income growth in 1987 as the company has for the past five years
it added hertz rental cars westin and hilton international hotels in a strategy to become a travel service company
south korea corn imports may increase usda
net assets being acquired come to around nine mln stg
the june interim surplus compares with a 176 billion dlr surplus in the same may period
but over the years the distinction between notes and the publicly quoted and traded bonds gradually broke down
caesars said sosnoffs offer to by all its outstanding shares of common stock was inadequate and not in the best interests of its shareholders
assets of money market mutual funds increased 7204 mln dlrs in the week ended yesterday to 23690 billion dlrs the investment company institute said
bank of tokyo curacao issues canadian dollar bond
industrial businesses contributed 202 mln stg to net profit a 40 pct increase from 144 mln in 1985 and 60 pct of the total
mobex completes grant industries gtx tender
he said france was continuing negotiations with iran
what i do know is that community exporters are making a hell of an effort in this market
the securities exchange of thailand set index on monday recorded its biggest daily advance in recent years shooting up 457 points to a new seven year high of 22302
brazil supplied 1263 tonnes in january down from 7411 in december and 27088 in january 1986
the philippines which met the first two venezuelan criteria but not the third was adamant that it could not accept a spread higher than 7 8 pct
shr 87 cts vs 84 cts net 4186 mln vs 3992 mln revs 312 billion vs 289 billion nine mths shr 261 dlrs vs 262 dlrs net 125 billion vs 123 billion revs 910 billion vs 862 billion avg shrs 4814 mln vs 4736 mln note share adjusted for three for two stock split in february 1987
the alternative to driving down the dollar any further as a way to deal with the trade deficit volcker said recently is to reduce us consumption particularly federal spending
fees comprise 1 1 4 pct selling concession and 5 8 pct management and underwriting combined and listing will be in london
the last issue for one billion marks carried a 6 1 4 pct coupon for 10 years with a price of 9965 for an issue yield of 630 pct
the issue of 46 mln shares in adr form had now been successfully completed he added
manufacturing hours also fell back to their january level totalling 409 hours in march compared with 412 hours in february
modulaire has scheduled a special shareholders meeting for july 15 to vote on the merger
shr loss 144 dlrs vs loss 150 dlrs net loss 101 mln vs loss 8866000 revs 1223 mln vs 1125 mln avg shrs 7671855 vs 6520928
us company earnings highlights
the following offers were in the market at the end of last week first or second hand sellers ideas for spot afloat or prompt shipment in dlrs per 50 kilos fob equivalent unless stated previous weeks prices in brackets brazil unwashed german quals 100 102 colombia excelso 105 110 salvador shg 110 108 nicaragua shg 109 same guatemala hb 111 same costa rica shb 113 112 kenya ab faq 142 134 tanzania ab faq 120 same zaire k 5 105 unq sumatra robusta ek 1 91 cif same
the two groups have also begun exploratory talks on a possible merger of the holmes business with the compatible businesses of wormald comprising some or all of its fire protection and security businesses in the americas and europe wormald said in a statement
cheung kongs earnings rose to 128 billion hk dlrs in 1986 well above market expectations of 920 mln to one billion dlrs
central sprinkler corp cnsp 1st qtr jan 31 net
damages was estimated at 800000 dlrs in the dynamite blast yesterday at chacapalca where the explosion wrecked the train laden with minerals and 45 metres of the railway line
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
piedmont management co inc pman 4th qtr
the federal reserve was detected buying dollars for yen in the open market as the dollar fell to a 40 year low of 14460 yen in nervous late morning trading currency dealers said
laclede steel co lcldo 3rd qtr net
asked whether the us was proposing a new initiative regarding the indicators the official said the issue would be reported to the venice summit in june
the seven year shibosai issue in the tokyo domestic market carries interest at 69 pct
waterwhite resins are widely used in adhesive applications for baby nappies medical tapes and other bonding agents
a volkswagen ag vowgf spokesman said the group had no immediate comment on reports of greater than expected losses at its spanish subsidiary sociedad espanola de automoviles de turismo seat german newspapers reported that werner schmidt seat supervisory board chairman had told journalists that seat losses for 1986 were around 27 billion pesetas or about 386 mln marks almost double original expectations
union carbides subordinated debt was upgraded to bb minus from b
pacific gas said accounting change will reduce 1987 net by 470 mln dlrs
between february and october 1986 californias crude oil production slipped from an all time high of 1185 mln barrels per day to 1066 mln bpd guerard said
newly nominated federal reserve board chairman alan greenspan said there was evidence the dollar finally had bottomed out
noting fed vice chairman johnsons encouraging remarks on inflation today and recent interest rate cuts overseas some economists suggested this slowing in monetary growth could lend support to calls for further accommodation here
each warrant will be exercisable after april 30 at 750 dlrs a share the company added
this weeks 100 mln stg offer of 91 day bills met applications of 327 mln stg the bank said
others noted that exchange rates are stable after last months group of six agreement in paris and central bank money stock growth is still well above the three to six pct target zone so a change in credit policies could be ruled out
azpurua recently visited tokyo hoping to acquire new credits for industrial expansions but clinched no agreements
this will gradually reduce the ratio of the surplus to gnp gross national product from the current five pct level to three pct by 1991 he added
the government lowered its gnp forecast for 1986 87 from four pct last december
taiwan purchased 296300 tonnes for the 1986 87 season and 170000 tonnes for the 1987 88 season it said
the company gave no net profit figures or any indication of the likely 1986 dividend
net charge offs were 347 mln compared to 411 mln dlrs a year earlier
a spokesman for the chinese national federation of industries told the mission was part of a broader plan to switch large purchases to the us from japan
union faith is equally owned by hutchison whampoa ltd and hong kong electric holdings ltd under the agreement with union faith husky will become a private company with union faith and nova each holding 43 pct of its stock
he believes it is merely shading policy toward restraint now but to have a major impact on the dollar the fed will have to tighten policy overtly at some point jones expects the fed to foster higher market rates by becoming more restrictive in supplying reserves and within four to six weeks to raise its discount rate from 5 1 2 pct
kendall formerly served as executive vice president and chief operating officer
southland corps citgo petrleum corp said it raised the contract price it will pay for all grades of crude oil by one dlr a barrel effective today
he did not mention this weeks intervention by central banks to support the dollar after markets decided to test the accord
he said in a television interview that there is nothing in the events of the past few days to increase the upward pressure on uk interest rates sterling has so far stayed solid during the crisis backed by strong economic fundamentals and by 10 pct bank base lending rates analysts said
wilbur was not immediately available for comment
manila will pay foreign banks 37 mln dlrs a year in 1987 1988 and 1989 representing four pct of a 925 mln dlr loan signed in 1985
the sources said shares in the porfolio could be traded or redeemed by the idb adding that this was a major step in establishing an islamic financial market
the gcc an economic and military alliance which has generally supported iraq over iran comprises bahrain kuwait oman qatar saudi arabia and the united arab emirates
rexnords 50 mln dlrs of 12 3 4 pct debentures of 1994 were cut to b from a minus to reflect the merger with banner
qtly div 43 cts vs 38 cts prior pay may 15 record april 30
federal paper said the preferred will be convertible into common stock
suburban bancorp subba unit wins judgment
a presidential decree said that banking financial and insurance firms as well as bottling and tobacco industries with 1986 sales of more than 16 mln intis would have to earmark 30 pct of their net profits from last year to buy the bonds
she added that while some trade guesses were as low as 61 mln acres she was looking for corn plantings to be in the high 60s
the company said james j
qtr ended jan 31 shr 67 cts vs 69 cts net 1525000 vs 1570000 revs 412 mln vs 402 mln year shr 175 dlrs vs 154 dlrs net 4001000 vs 3522000 revs 1723 mln vs 1687 mln note figures include losses from discontinued operations in qtr of 309000 dlrs vs 253000 dlrs a year earlier and for the year of 309000 dlrs vs 1559000 dlrs a year ago
bundesbank will not hold press conference tomorrow
official capital transactions in february showed a surplus of 786 mln dlrs against a 256 billion surplus in january and a 505 mln surplus a year earlier
lawson says uk interest rate prospects unchanged
danaher corp dhr 4th qtr net
1986 qtr and nine mths includes tax gain 78000 dlrs and 107000 dlrs respectively
light louisiana sweet was raised to 1935 dlrs
first florida banks ffbk 3rd qtr net
im not convinced the intervention was concerted said earl johnson of harris trust and savings bank in chicago
fed buying dollars for yen in open market new york dealers say
it said the increase will be declared at the may 1987 board meeting and reflected in regular payments beginning in july 1987
the tin pact failed when its buffer stock manager ran out of funds to support prices
gordon jewelry corp said it has completed the previously announced sale of the assets of its catalog showroom stores to privately held carlisle capital corp for an undisclosed amount of cash and notes in excess of book value
qtr ends feb 28 shr 53 cts vs n a net 1165000 vs 575000 nine mths shr 154 dlrs vs n a net 3363000 vs 1535000 assets 3752 mln vs 3207 mln deposits 3138 mln vs 2642 mln loans 2863 mln vs 2359 mln note earnings per share data not presented for 1986 as great country bank converted from a mutual to a capital stock savings bank on jan 14 1986
the report also said imbalances in the current accounts of japan west germany and the us had increased in 1986
china january wheat sugar imports below year ago
the indian state trading corporation stc bought a 20000 tonne cargo of optional origin rapeseed oil at its vegetable oil import tender yesterday traders said
china will provide 370 mln yuan for the project and a chinese company won a bid against 12 other firms from seven countries to do the foundation work it said
allied signal inc and schlumberger ltd jointly announced that schlumberger had acquired allied signals neptune international unit
monolithic memories inc mmico 3rd qtr net
gateway sporting goods co said it acquired all of the shares of stock of innovative dental services inc for an undisclosed amount of cash
1986 qtr and nine mths include loss 126000 dlrs or one cent per share and gain 304000 dlrs or three cts per share respectively from discontinued operations
a total of 225 mln dlrs is payable on completion 15 mln will be injected into the business through an interest free loan and the expenses of the acquisition amount to 660000 stg
ammar head of the agricultural research group of the tdri suggested tapioca farmers diversify to other crops
federal reserve board chairman paul volcker said current data does not give a clear sign that the deterioration in the us trade balance has yet been reversed
international cocoa organization icco council chairman denis bra kanon said he will attempt to reach a compromise on buffer stock rules for the international cocoa agreement
roderick proposed that tender offers must be made for all cash to all stockholders on equal terms and that raiders be required to have financing in place before a tender is made
citicorp said only that the situation will be reviewed at the end of the current quarter
production estimates for maize were down from last week at 95 mln to 98 mln tonnes against 96 mln to 99 mln estimated previously
some believe prices can continue to rise if saudi arabia and opec hold steady in a refusal to discount
fleet financial group flt 1st qtr net
texacos stevens said that aerial surveillance has not found any crude on the water in the river or in lake texoma which is nearby
soviet grain for feed use was estimated at a record 129 mln tonnes
after restatement net income was 398 mln dlrs
the mineworkers were killed last september at kinross when a fire set off toxic fumes which suffocated miners underground
the government will decide later what form the trade boycott will take and when it will come into force
the company said pretax net should rise to nine to 10 mln dlrs from six mln dlrs in 1986 and rental operation revenues to 19 to 22 mln dlrs from 125 mln dlrs
but most consumers and a maverick group of eight producers proposed carving up the export market on the basis of exportable production and stocks which would reduce brazils share to 288 pct
house speaker jim wright of texas one of the most influential proponents of aid for specific industries beset by low priced foreign competition last week renewed his call for import relief for the domestic oil industry and announced his support for a senate plan to trigger a temporary oil import tariff when imports reach half of domestic consumption
a proposal by two us house democrats to target government farm benefits to small and medium sized farms was warmly received by democrats on a house subcommittee today
fluorocarbon co said it signed a definitive agreement to acquire eaton corps industrial polymer division for an undisclosed price
the central bank intervened as a medium sized trading house sold dollars putting pressure on the us currency they said
the package guaranteed by the parent firm ssangyong cement industrial co ltd includes a 25 mln dlr medium term loan a five mln dlr revolving letter of credit facility and an 183 mln dlr bonding facility
italys state owned banca nazionale del lavoro bnl said it would issue 120 mln dlrs of five year convertible eurobonds an operation to be lead managed by credit suisse first boston ltd bnl president nerio nesi told a news conference that the issue to be placed on the main international markets and listed in luxembourg would be the first equity linked issue by an italian bank on the euromarket
following the companys fiscal year ended march 31 1985 it changed to a calender year end
the dutch cost of living index base 1980 fell 12 pct to 1215 in the year to mid february after a 13 pct fall in the year to mid january 1987 the economics ministry said
the us remains open to a negotiating meeting but only if some new flexibility is apparent from major countries the official said
enetertainment marketing inc and its president elias zinn have demanded a list of crazy eddie inc shareholders from the company and said they may pursue a merger of the edison nj electronics retailer
finance minister kiichi miyazawa said major nations are taking action to stabilise exchange rates in line with their agreement in paris last month government sources said
however on the interest rate front economists caution that lawson might be wary of leaving sterling vulnerable by encouraging another base rate fall
the share crash result of a speculative spree in forward trading left 95 billion dlrs of post dated cheques in default
orange ojay in definitive pact to sell units
it said the major part of the turnaround reflected an injection of funds estimated at around 700 mln dlrs associated with the previously reported restructuring of the australian operations of general motors corp gm gm used the funds to pay out or take over certain australian liabilities of its local unit general motors holdens ltd it said
the delay was partly due to commercial banks desire to gauge customer reaction to a similar move by regional savings banks
wickes also said it will call the debentures on dec 1 1987 assuming market conditions remain essentially the same
the charges made in the shareholder suits are widely believed to have led to last summers resignation of chairman and chief executive officer robert buckley
roeller said the debt crisis could only be solved in coordination with governments international organisations such as the world bank and the international monetary fund and creditor banks
analysts said six individual swiss noteholders who initiated legal action against dome to recover debt of 408500 dlrs will also be pressed to adopt a more lenient stand by the 1986 results
the automaker will shut three plants each in its two groups the buick oldsmobile cadillac group and the chevrolet pontiac gm of canada group
wendys retreated from an earlier high of 13 3 8 and lost a point when coca cola ko said the rumors were untrue
the gmac financing seemed tailor made for those retail investors commented one underwriter away from the syndicate
diamond shamrock sets 27 pct proration factor for tendered shares
kmw systems corp kmw 1st qtr net
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
three previous attempts to negotiate a new five year pact had failed the last round breaking down in october over consumer demands for tighter controls of the buffer stock
yesterday washington announced plans to slap as much as 300 mln dlrs in tariffs on japanese imports in retaliation for what is sees as japans failure to comply with the terms of the pact
chase a property investment firm said it holds 48 pct of entregrowth its vehicle for expansion in north america
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
south atlantic said said its chairman and chief executive officer sheldon s
the company said it will apply the proceeds of the sale to support its line of credit and as part of a proposed debt restructuring with colorado national bancshares colc and greenwood shareholders
first union real estate investments said its board left the quarterly dividend unchanged at 37 1 2 cts per share payable april 30 record march 31
the bond matures on april 20 1995
the company did not say what percentage of hydrocarbons was crude oil but has previouly said it was about 48 pct
it is due to be opened in late 1989
c itoh finance europe issues eurobond
the council broke for lunch and reconvenes at 1500 hrs
qtly div 25 cts vs 25 cts prior pay april 30 record april 16
marietta environmental had 1986 revenues of about nine mln dlrs
in remarks prepared for delivery before the national press club rostenkowski d ill predicted major trade legislation will be sent to president reagan by the end of this year
this compares with the banks forecast of a shortage in the system today of around 850 mln stg which it earlier revised up from 800 mln
feedlots are not falling behind and are holding that 100 pct marketing pace
they are progressing as far as i have heard dumas told reporters
shr 20 cts vs 32 cts net 1358000 vs 2476000 revs 271 mln vs 262 mln nine mths shr 68 cts vs 105 dlrs net 4957000 vs 8129000 revs 826 mln vs 788 mln
the ministry is accepting applications for phase two blocks until early april and the awards will likely be announced this summer officials said
brazil suspended interest payments on its 68 billion dlrs of medium and long term debt on february 22
hong kongs broadly defined m3 money supply rose 22 pct to 60717 billion hk dlrs in january after a 31 pct rise in december for a year on year rise of 233 pct the government said in a statement
kleinwort benson international investment ltds subsidiary kleinwort benson australian income fund a closed end management investment company declared its first quarterly dividend of 365 cts payable april 16 to shareholders of record april 1
bank of england offers early help in money market
a hutton spokesman said the firm is reviewing its options on stant
under terms of the cap on costs it will not attempt to recover the portion of the budget increase that applies to the buybacks
consolidated bathurst which reported operating profit of 104 mln dlrs last year on sales of 202 billion dlrs said its joint venture acquisition of a market pulp mill at castlegar bc last year broadens its product range and will contribute to equity earnings
qtly div 45 cts vs 45 cts prior pay may 20 record april 24
sudan has an annual debt liability of nearly 900 mln dlrs but set aside only some 200 mln dlrs to service debts in the fiscal year ending next june 30
consolidated attributable net profit of ste lyonnaise des eaux lyoepa is likely to rise by at least 10 pct this year from the 360 mln francs reported for 1986 chairman jerome monod told a news conference
energy secretary john herrington said he believes the reagan administration will review its decision to cut the fill rate of the strategic petroleum reserve because of a department report issued yesterday warning of growing us dependence on oil imports
reute
it compared with a 195 billion dlr deficit in fiscal 1987
newfoundland capital corp ltd said it will issue 25 mln dlrs principal amount of eight pct convertible subordinated debentures
the kwacha slid to around 15 per dollar under the auction system losing 85 pct of its value in 16 months
currently good west african cocoa is tendered at par onto the london market
cominco ltd said its cominco metals division lowered the price for lead metal sold in canada by 1 2 canadian cts per pound to 34 canadian cts per pound
turkish retail prices rise 27 pct in february
a higher psbr target could be preferable in the long term he said although lower mortgage interest rates on the back of falling base rates would have an offsetting impact on inflation
the year on year rise in march was 42 pct unchanged on february and compared with 72 pct in march 1986
it raised the companys first mortgage bonds to aa from aa minus and sinking fund debentures to aa minus from a plus
these limits are set at 15 billion lire or two pct of the total assets of the parent company of the shareholding bank
additional untested but possibly productive zones exist behind the pipe it added
diplomat electronics corp said it will reduce expenses by four mln dlrs a year in an effort to stem losses and return to a positive net worth
the january announcement said the rights issue would finance bond corps 14 billion dlr acquisition of a 2377 pct stake in hk tvb ltd tvbhhk from film magnate run run shaw
if irving wouldnt go with the offer at 80 dlrs a share then they wont go at a lower price another analyst said
weyerhaeuser wy offers preferred shares
a ministry of foreign economic relations and trade official said this years outlook for exports which account for more than 75 pct of foreign exchange earnings is much healthier than a year ago
it will also review implications of any defensive actions by gencorp
triton oil says paris basin reserves up 39 pct
after the companys annual meeting rober mercer goodyears chairman and chief executive officer also said goodyear expects to report a profit of more than one dlr a share from continuing operations in the first quarter
trading was fairly quiet this morning partly owed to the slow us dollar activities they added
successful bidders the amount of crude oil and the price per bbl according to the doe continue as follows orkin inc 2679 bpd at 1524 dlrs lunday thagard co 2511 bpd at 1527 dlrs golden eagle refining 2500 bpd at 1537 dlrs macmillan ring free oil co 1000 bpd at 1581 dlrs 1000 bpd at 1571 dlrs and 230 bpd at 1602 dlrs mock resources 2000 bpd at 1576 dlrs petro diamond 2000 bpd at 1546 dlrs
for all of last year it earned 2506000 dlrs on sales of 654 mln dlrs
harkin acknowledged that higher commodity price supports would be passed onto consumers but he said high food prices stem more from gouging by food processing companies than from high farm product prices
texaco tx to cease posting texas oil price
the measures are a part of the defense authorization bill which will be voted on in the house next month
they said the bank seemed more determined to support the dollar than it did this morning
glickman said a 0 92 program which allows a farmer to forego planting and still receive 92 pct of his deficiency payment would not be a major revision of the 1985 farm bill only an extension of the 50 92 option already provided under the current bill
britain has grown increasingly impatient with japanese trade practices
however there is no way of telling how many current crop beans will be declared after the may 1 start of the temporao and thus the true size of the 1986 87 harvest may never be officially registered
a newly formed credit rating agency based in london euroratings ltd said it will begin providing evaluations of the quality of eurobond offerings including the first ever ratings of some of the uk and irish clearing banks
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
labour negotiations in north america will play an important part in determining the direction of prices with contracts expiring end april at comincos trail and kimberley bc mine smelter and at doe runs herculaneum mo smelter
the combined entity would also have twas pars reservation system
amoco corp said it raised the contract price it will pay for most grades of crude oil by 50 cts a barrel effective today
c itoh has just begun a trade mission in canada to investigate trading opportunities in the aerospace autoparts electronics and other sectors and will visit some 30 leading companies across canada
interest in gold mine stocks may also wane if stock exchange rallies under way in many countries start to waver
counsel corp said it plans a three for two stock split pending shareholder approval at the april 28 annual meeting
japan telecom merger could involve uk us firms
these swaps arent a panacea but they do demonstrate how a creative free market can make progress in reducing the debt burden he said
funaro who is accompanied by central bank governor francisco gros met only with government officials of the countries visited over the week
terms were not disclosed
goodman fielder has 299 pct of ranks hovis
habibie did not say when the terminal was expected to be operational
analysts said the slowdown was likely to be temporary and the reappraisal of sterling assets by international investors was set to resume as early as tomorrow leading to higher gilt prices exchange rate advances and lower money market rates
maybe they find it is better not to have the meeting because everyone is sticking to official prices he said
the new schedule will feature three daily flights from san antonio to las vegas including one nonstop one direct and one connecting flight via los angeles
i think brazil will pay its debts in the long run
group boosts scandinavia fund scf stake
cane in excess of internal demand for alcohol and sugar is refined into sugar for sale abroad to earn much needed foreign currency
the bond is available in denominations of one mln yen and will be listed in luxembourg
the notification does not represent anything resembling a formal complaint nor is it intended to pressure south korea
currently farmers enrolling in the program are required to set aside 20 pct of their base acreage and then are eligible for payments of two dlrs per bushel by idling an additional 15 pct of their acreage
among semi finished products output rose sharply helped by a strong growth in construction materials
cleveland cliffs inc clf 3rd qtr net
a lot will depend on spring weather not only for the outcome of the troubled winter grain crop but also for spring planting martell said the dry weather conditions last fall probably prevented optimal seed germination for winter grains
the ec executive commission has backed a plan to allow member countries to ban regular leaded gasoline in a move designed to encourage use of unleaded fuel
combined intl pma raises payout votes split
bank rate is set 1 4 percentage point above the average yield on the weekly issue of 91 day treasury bills
qtly div 41 cts vs 41 cts prior pay may 1 record april 8
exports fell 64 pct to 72 billion marks in 1986 and competition from us and british firms increased
shr 11 cts vs three cts net 313000 vs 80000 revs 125 mln vs 113 mln
gerard guillonneau of france who spoke for consumers agreed that the current agreement had worked relatively well asked about the chances of success of the new inra delegates noted that for nearly its whole life the 1979 accord had maintained the average price above the must buy level
cnw cnw makes private bond placement
however they noted that it was not a major move
fed adds reserves via customer repurchases
the only buyers are bean exporters or local processors covering previously contracted commitments they added
competition for market share has been a boon to issuers as banks compete to offer the best terms
the council said that in the talks canada is chiefly interested in minimizing the imposing of us duties against allegedly subsidized exports
shr profit 10 cts vs loss seven cts net profit 286870 vs loss 156124 revs 100 mln vs 7577207 year shr profit five cts vs profit 42 cts net profit 160109 vs profit 906034 revs 381 mln vs 312 mln avg shrs 29 mln vs 22 mln note 1986 year includes 53 weeks
last year sugar exports totalled 149755 tonnes
this compares with the banks revised estimate of a 350 mln stg money market shortfall
echlin could receive a one time payment at its option in cash or stock ranging from up to one dlrs a share in 1989 to four dlrs a share in 1992 to 1994 to the extent the market price of champion shares is less than nine dlrs a share at those times
in addition dca said it agreed to limit its ownership in cts for the year following the 1987 annual meeting to not more than 35 pct of the outstanding stock
the substantial correction of the exchange rate that has occurred since early 1985 is enormously welcome and should produce a sizeable reduction in the us trade deficit this year and next but the imbalance will not fall much below 100 billion dlrs on present policies so much more is needed he said
southern railway co a unit of norfolk southern corp is raising 206 mln dlrs through an offering of equipment trust certificates due 1988 to 2002 said lead manager morgan stanley and co inc
by 1995 non socialist world primary capacity will need to be around 18 mln tonnes whereas on current plans only 15 mln tonnes are scheduled bird said
management said it would give consideration to this matter at a later time
yeutter said the us will examine the canadian decision closely and if the us believes the decision was not based on facts will carefully evaluate appropriate responses yeutter did not say what steps the us may take in response
period ended march 31 shr loss nil vs profit one ct net loss 36000 vs profit 310000 revs 1172000 vs 1686000 note full name atlas yellowknife resources ltd
us treasurys baker says currencies within ranges that better reflect fundamentals
proceeds will be used primarily to retire bank debt
the bank of england said it provided the money market with unspecified late assistance of around 240 mln stg
intl totalizator itsi sees better 1st qtr
stoltenberg said studies by international organisations had made it clear that especially in the us and in japan major efforts remained necessary to support adjustments in foreign trade balances via necessary corrections to economic policy
equicor sees year revenues to top two billion
they said that the dollar yen rate was broadly in line with fundamentals when it was 154
he added that losses incurred through loans to tin producers in the wake of the tin council crisis at end 1985 had been written off
the report said february imports stood at 201 billion crowns while exports were 237 billion
nissan motor issues 35 billion yen eurobond
approval would pave the way for us commercial banks to underwrite and trade equities in japan under their own names
the measure confirmed by a brokerage firm here has effectively cut off all foreign participation in venezuelas volatile currency market
he said interest rates are not coming down and i would not bet a lot that they will come down sharply chryslers 35 billion pension fund last week sold 405 mln dlrs of corporate bonds in the first of two planned sales of slightly less than one billion dlrs of corporates
shadowfax shfxf sets normal course issuer bid
samuels cited the animal hormones complaint the ec oilseeds regime and an ec regulation concerning meat imports to third countries as three crucial barriers to trade which the us wants to see resolved under the auspices of gatt
year on year inflation rose to 34 pct in february against a revised 32 pct in january and a year on year rate of 53 pct in february 1986 the bureau said
they said banks are under pressure because of low returns on commercial lending and investments in government securities
last paid 114 dlrs february 27 including capital gains of 50 cts
market talk and comment the usda said turkey has been made eligible for the sale of up to 70000 tonnes of medium grain milled rice under the eep market talk and comment continued the usda announced colombia has been made eligible for sale of up to 15000 tonnes of us barley malt under the eep the canadian grain commission reported canadian wheat exports in the week ended march 29 totalled 447200 tonnes compared with 277700 the previous week with 1986 87 season exports so far up to 10228600 tonnes versus 10637500 for the 1985 86 season with barley exports 38800 tonnes 106700 tonnes 4804500 and 1892600 respectively rapeseed 43900 tonnes 50700 tonnes 1292600 and 920000 respectively and flaxseed 20700 tonnes 13600 tonens 450900 and 392600 respectively market talk and comment continued pakistan is not emerging as a major wheat exporter as world market prospects are not good enough a government official said active timecharter fixing by soviet operators to cover ussr grain imprts featured the ocean freight market this morning ship brokers said dry cargo futures on the biffex extended yesterdays strong advance with sharp gains of 22 to 17 points in response to rumors of higher rates for grain business from the us gulf to japan dealers said
alberta premier don getty agreed things are running pretty quickly now the talks launched by mulroneys progressive conservative government after concerns about protectionist sentiment in the us are aimed reducing the remaining barriers between the worlds largest trading partnership
africa paid 13 billion dlrs to service its total foreign debt last year and by 1990 annual service payments are expected to rise to between 16 and 24 billion adedeji said
louisiana land said blocks q4a e12c and e15b were offered to the group in which conoco has a 675 pct interest louisiana land 20 pct and orange nassau 125 pct while this group along with a consortium headed by pennzoil co pzl were offered block q5c
such companies would not immediately benefit from tax benefits he said
for the year 1986 the provisions for mergers and restructuring expenses brought non recurring expenses to 40292000 before tax gains of which 8863000 represented merger costs and 31429000 related to restructuring of the combine operations
tescos offer made on march 10 values each hillards ordinary share at 3055p a 376 pct premium over the previous days closing price
diplomatic sources in lusaka had earlier expressed doubts over zambias ability to ship all its copper through beira and dar es salaam without causing massive bottlenecks at the ports
such plans allow foreign bank creditors to sell third world debt at a discount to investors who then become stockholders in firms in these countries
the 2011 maturity will be issued to a maximum of 374 mln dlrs
value added tax will be levied on all purchases by members of the uk public as is currently the case with foreign coins although transactions between members of the london gold market and all exports of the coins will be zero rated
texaco said its natural gas reserves totaled 816 trillion cubic feet at year end down from 887 trillion cubic feet at the end of 1985
uk gilt market turnover eases in february
prudential borrows from minority banks
the royal trust president said the company was stressing growth within its overseas units adding he did not foresee any acquisitions in the immediate future although we have our eyes wide open for the right opportunities asked about royal trusts plans for the us which the company abandoned with the 1983 sale of its florida bank units cornelissen said the company faced a trust services market well covered by hundreds of small regional banks
the chinese state owned bank of communications ltd hong kong branch is planning a 200 mln hk dlr certificate of deposit issue banking sources said
the talks were of a casual nature he said
other months will remain unchanged at 70000 yen except new distant august which will be set at 70000 from march 2
the plessey co plc announced it had won a 100 mln dlr digital telephone exchange order in the united states which it said was the first major us telephone exchange order not to go to established us suppliers
qtly div 32 cts vs 30 cts prior pay april 29 record april 10
rules can and will be ignored if the institution is weak or perceived as unable to adapt to the changing world economy he also also urged that member states be accountable to each other for their trade policies
for poehl the significance of the february louvre accord was that the united states agreed to join efforts to stabilise currencies
allegheny said it and the sunter concerns intend to vigorously defend the complaints charges
in 1986 the company reported operating income of 551 dlrs a share up from 484 dlrs a share a year earlier
he said the pledge by major industrial nations in paris last month to cooperate to hold exchange rates around current ranges applied in both directions a dollar fall or a dollar rise
industry sources said that among the options are for venezuela to produce ecuadors entire quota or for venezuela and non opec mexico to share it and for the latter to supply ecuadors far eastern clients
us 1987 sugarbeet acreage estimated by usda at 1249000 acres vs 1232500 in 1986
some of the slowness experienced in the october december period had been expected to spill over into the first quarter this year as the tax law changes that went into effect in january slowed business and consumer spending
pharmacontrol said the purchase price was financed along with one mln dlrs in working capital through secured institutional financing
next industrial transaction in may is syndication of a 35 mln us dlr loan to the shanghai ta chun tyre project
in a statement outlining the budget for the fiscal year 1987 88 beginning today finance and petroleum minister sheikh abdul aziz bin khalifa al thani said the government expected to spend 12217 billion riyals in the period
s and p said it will review the timing and extent of asset sales debt reduction and strategic benefits of the purchase
the library was purchased in may 1986 as part of cannons acquisition of screen entertainment ltd from bond corp holdings ltd
dollar falls below 143 yen in tokyo
for the full year these liabilities grew 774 billion dlrs after rising by 404 billion dlrs in 1985
bangladesh passes on tender for soft wheat
first federal bank fsb said it has entered into a letter of intent to merge into bankeast corp for 60 dlrs per first federal share in bankeast common stock
louisiana pacific corp said it reached a non binding agreement in principle to buy a gypsum wallboard plant in seattle from norwest gypsum
managers are arab banking corp bank of nova scotia gulf international bank istituto bancario san paolo di torino national bank of kuwait standard chartered asia ltd and sumitomo finance asia ltd
the debt is covered by a standstill agreement that expires june 30
wardair preferring strong medicine now instead of later already has embarked on a one billion canadian dlr purchase of a dozen aircraft from europes airbus industrie
energas co said it has agreed in principle to purchase western kentucky gas co from texas american energy corp for 615 mln dlrs in cash plus assumptrion of certain liabilities
np owns a 61 pct working interest
quest also said its signed a merger agreement with hunt research corp and its affiliate icas corp quest said it expects to complete the merger within the next several weeks
after a 90 day waiting period the bonds flow back to japan where investor appetite is strong he added
according to the report domestic liquids reserves fell slightly to 6285 mln barrels from 6289 mln and foreign reserves fell to 1743 mln from 4864 mln barrels
china should also earn more foreign exchange from tourists and contracted labour abroad he added
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
as previously reported bond media will be publicly floated with a rights issue to bond corp shareholders
the ec scheme involves emergency measures to reduce tensions in troubled surplus sectors of cereals and cereals substitutes dairy and sugar
three months was quoted at 313 stg at midsession
these arrangements confirm south africas continued willingness to maintain good relations with its foreign creditors and to meet its foreign commitments in a orderly way du plessis told a news conference
the company also may expand this year in continental europe in conjunction with la victoire a french insurance company he said
firstly opec hardliners led by iran are bound to oppose such a move
shr 32 cts vs 22 cts net 2022000 vs 1355000 revs 160 mln vs 132 mln avg shrs 6237000 vs 6052000 six mths shr 58 cts vs 42 cts net 3561000 vs 2525000 revs 300 mln vs 261 mln avg shrs 6180000 vs 6017000
soviet firm says talks on for philippine mine
it makes no sense to abandon this policy now when exploration is at its lowest level for many years and when australias oil self sufficency is expected to decline rapidly massy green said
trade sources said the ruling though effective immediately was subject to appeal and would have to be confirmed in further proceedings
weve had no conversations with them usa today reported that archer daniels midland might be seeking a hostile takeover of international minerals
payment date is may 6
paperboard industries corp said it agreed to sell 93 mln dlrs of convertible notes with half to be purchased by brokers wood gundy inc and mcleod young weir ltd and the other half by controlling shareholder kinburn industrial corp
i am of the opinion that efforts to stabilise the dollar mark rate have reached a high priority also for the bundesbank because a further massive revaluation of the mark would endanger the economy in west germany he told business journalists in frankfurt recently
details of the transaction were not disclosed
machakos embu meru and kirinyaga in eastern kenya and nyeri and thika in central have been dry in the past week
alcan said it and bertone have built several bertone x1 9 sports cars with structures of adhesively bonded sheet aluminum
asa said its load factor however was down to 388 pct from 427 pct a year ago
they reported offshore offers of overnight at 10 tomorrow next at eight and one year at 6 1 2 pct towards the close
among finished goods the index for energy products rose four pct in february after a 98 pct increase in january
but i think they will eventually kill the margins on the profitable chemicals in the niche market some top chemical executives share the concern
vr vrbbo closes stock sale to vr acquisition
end 1986 net assets totalled 1185 mln dlrs
the system will first be used for glass and then expanded to other products
japan seems particularly peeved at being singled in a draft trade bill before the senate as a nation following adverserial trade practices
further us demand could be sluggish because winter the period of greatest consumption is ending
waste management wmx to raise chemlawn chem bid
saturday will also be very windy and cooler with frequent showers
at least a half dozen such debt equity swaps have already taken place in venezuela
fed funds were trading at 6 1 8 pct at the time of the coupon pass which adds permanent reserves to the banking system
us treasury proposes safrican uranium imports
government securities outstanding rose 109 billion dlrs to 22642 billion dlrs in week ended april 1 treasury bills rose 135 billion dlrs to 7695 billion dlrs and canada savings bonds fell 47 mln dlrs to 4387 billion dlrs
net amounts reported are before taxes profit sharing and contribution to employee stock ownership trust
aqazadeh who will be accompanied by a large delegation will have talks on bilateral relations in the field of energy and exchange views with algerian officials on the current world energy situation it said
lsb bancshares inc lxbk raises payout
cablevision systems corp said it bought cable television systems in six dutchess county ny communities from dutchess county cablevision associates ltd
gas carrier escaped gulf attack last week lloyds
analyst pulcine said she might lower full year earnings estimates for the banks by between two cts and 10 cts a share assuming a possible settlement reduced brazils interest costs
a and w brands files initial public offering
many dealers were sidelined coming into the negotiations and have remained so traders said
the toronto stock exchanges oil and gas index of 41 companies is up to 40654 so far in trading today from 305315 at the end of 1986
arango said there would be no imminent catastrophe but predicted that over the short term prices would undoubtedly plummet
istituto mobiliare italiano said it was not in a position at present to formulate proposals on an imi bond issue convertible into fiat spa fiatmi shares or carrying warrants for exercise into these shares
rl crain inc 4th qtr net
reichhold chemicals inc said it is raising the prices of its emulsion polymers divisions styrene based latexes for nowovens textiles adhesives and other specialty end uses effective april nine
burlington lawyers said edelman and dominion held discussions with painewebber and ammeen about acting as financial advisers to samjens
the move is in part an attempt to force japan to open its domestic market to more us supercomputer sales they said
mthly div 71 cts vs 71 cts prior pay march 31 record march 16 note franklin puerto rico tax free income fund
about 14000 of brazils 40000 seamen are now back at work after pay accords with 21 shipping companies but the rest are still on strike a spokesman at strike headquarters said today
ultramar plc umarl said it had reached agreement in principle to sell its wholly owned uk marketing companies to kuwait petroleum corp for around 50 mln stg
alaska air group alk to offer stock
it said the rights expire july three 1987 or 60 days after they become exercisable if later than that date
irwin magnetic systems inc irwn 1st qtr net
he said it was profoundly unjust to blame it on recent increases in west germany
pricing will probably be april 7 the statement said
national data ndac in pact with signature
de laurentiis entertainment deg 2nd qtr loss
southern europe has strong domestic demand growth
merrill lynch and co inc mer subsidiary seeking to take over of borg warner corp said it could realize a 30 mln dlr fee for its efforts whether or not the deal which it values at 47 billion dlrs succeeds
the international cocoa organization icco moved closer to an agreement on buffer stock rules with many delegates saying they expect to reach an accord by friday
prime minister poul schlueter said the downgrading of denmarks credit rating by the us standard and poors corp was regrettable but of little practical importance
renault chrysler in accord for chrysler to buy amc
a government spokesman said in a statement that if ankara believed greece was contravening international law it could bring the issue before the courts
haughey told a news conference he is confident of being asked to form a government when the irish parliament meets next tuesday
resorts said that prior to the merger ri acquisition would be capitalized with about 100 mln dlrs of debt and about 220 mln dlrs of equity
cooper canada said it received takeover offers
iran said to attack cypriot tanker
savin said about 1767000 shares of its common stock will be issued as a result of the conversion
claremont said it made net purchases of 7800 champion products shares between jan
terms of trade are the difference between import and export price indexes
the plan calls for payment of about 15 mln dlrs in cash and the issuance of a new class of preferred stock by ormand industries
union miniere takes stake in pancontinental
morocco tenders thursday for pl 480 wheat
edf issues swiss franc notes with gold warrants
nrm energy nrm securities raised by moodys
gross sales were 593 billion francs after 851 billion and net turnover 565 billion after 800 billion
both companies will form a joint venture to take over the whole of cgct
southern hospitality corp shos 3rd qtr feb 28
temco service industries inc merger ended
ted hall a council director and local managing director of mckinsey and co
exxons policy of repurchasing shares on the market for its treasury also contributed to earnings results by a reduction of shares to 7226 mln shares from 7541 mln shares the previous year
ec officials say these tactics yield some benefits but often the japanese announce modifications of their non tariff barriers which open the door to imports by only a token amount
a source close to general partners however said general partners would apply to the federal communications commission for special temporary authority to hold the broadcast stations
in australia areas of queenslands coastal strip have received less than half the normal rainfall during the current wet season but prospects for increased rains are diminishing as the rainy season draws to an end
the london metal exchange lme has listed the aluminium brand cba produced by cia brasileira de aluminio at its mairinque sao paulo plant
cyclops cyl will not give data to group
the bank also revised its estimate of the market shortage up to 300 mln stg from 250 mln this morning
japan to introduce yen commercial paper in october
the international monetary fund said it approved a 48 mln dlr loan to assist ecuador in meeting its foreign exchange needs following the earthquakes that struck in march
france sets four billion franc t bill tender
more firms have applied and the final tranche will be admitted on april one and trading is planned to start in early june on the new trading floor on commodity quay
crane cr to redeem convertible debentures
utilicorp united inc said its management is recommending to the board of directors a three for two stock split and an increase in the quarterly cash dividend rate currently at 37 cts per common share
brazilian marines were today working on the unloading of ships at the local port as a national strike by 40000 seamen entered its 10th day without signs of an agreement
the remaining 500 billion yen will yield 38990 pct in a 31 day repurchase pact maturing on may 2 they said
sanwa bank acquires small stake in portuguese bank
terms of the agreement were not disclosed
a finance ministry statement said the year on year differential between french and lower west german inflation rates calculated on the last three months had narrowed in february to two to 23 pct compared to 27 pct in january
algeria sets tender for rape sunflowerseed oil
golden poultry co inc said it has signed a letter of intent to purchase privately held food distributor don lowe foods inc of pompano beach fla for undisclosed terms subject to approval by both boards
other terms of the bond launched on march 19 remain the same the bank said
on september 8 the group offered 6400 dlrs in cash and 250 dlrs principal amount of 15 pct junior subordinated debentures due 2007 for each gaf share
glamis gold ltd glgvf six mths dec 31 net
the above target growth of money supply over the past 16 months had prompted some discussion of the usefulness of targets themselves a matter which might be taken up at the mid year meeting of the bundesbanks council schlesigner said
house 0 92 farm plan markup delayed till tuesday
end january stocks included 128 mln tonnes of butter 520000 tonnes of beef and over 10 mln tonnes of cereals
the export price index in february fell 07 pct from a month earlier reflecting price cuts in export products like cars and precision instruments due to severe foreign competition
first bank system inc fbs 1st qtr net
if you include interest the total amount of external assistance needed annually should not exceed 200 mln dlrs the sources said
abbey national said it cutting uk mortgage rate by 1125 pct to 1125 pct
the record trade shortfall came after a revised 3715 billion dlr third quarter deficit
us farm loan secondary market gains support
enserch corp said that it has called for redemption on may four all its outstanding 16 3 8 pct sinking fund debentures due 2007 pursuant to the optional redemption provision of the indenture at 111981 pct of par
traders said many investors anticipated an announcement this weekend that it would spin off shearson lehman
mexican finance minister gustavo petriccioli said mexico will sign its 77 billion dlr commercial bank loan on friday
dow chemical dow to sell south african unit
but iranian parliamentary speaker hojatoleslam akbar hashemi rafsanjani said iran did not need missiles to close the strait because we can close it with artillery only the us has said it will not allow iran to use missiles to choke off oil shipments and offered its warships to escort kuwaiti tankers past the missile batteries in the strait
the government plans to help the industry shed 20 pct of current capacity within two years through mergers and regrouping under legislation put before parliament this month and likely to be approved by may or june the sources said
the eight major new york city banks did not borrow from the federal reserve in the week ended wednesday march 25 a fed spokesman said
one west german newspaper today quoted foreign currency dealers in frankfurt as speculating that the total losses from the currency affair could be as high as 15 billion marks but the vw spokesman described 480 mln marks as an upper limit vw said in a statement following todays supervisory board meeting that it had discussed the foreign currency scandal in detail and was setting up a new probe into its foreign currency activities to be carried out by an unnamed auditing company
as previously reported bank commitments to the new money package will also be reduced by 250 mln dlrs representing the interest payments that mexico will save this year thanks to the reduced spread on the rescheduling
unlike world market raw sugar prices in dollars white sugar french franc prices are not particularly high and are not encouraging higher planting levels he said
icc voted four to one last summer to reject the merger as inherently anticompetitive
melamed also chairman of dellsher investment co inc said the cme last week withdrew a proposal to put a 12 point limit on the s and p 500 indexs daily price movement when the commodity futures trading commission told the exchange it could not be a temporary program
the transaction is expected to be completed in april and is subject to regulatory approval
swedish mining and metals group boliden ab said it would buy the mining equipment operations of the us allis chalmers corp amounting to more than 50 pct of group sales for 600 mln crowns
talking point steel companies
cbc which is the holding company which owns cookevilles citizens bank said it has signed an agreement which would merge cbc with union which has 22 billion dlrs in assets
sandox buys stauffer seeds
weinberger opposes fujitsu buying us firm
it is far too early yet to say what kind of output we can expect when it comes to harvest in september but at least the crop is off to a very good start he said
it was called to review developments since the last ministerial meeting in february 1986 and to think up new ideas
1600 workers and oshawa ont
franco nevada says stock rise due to drilling
usually issuers and underwriters alert the rating agencies to any changes in debt offerings he said
excludes loss 256000 for 1986 net for extraordinary item
the result is that the ec is often divided over policy on third currencies accentuating what the economists say is the systems greatest weakness its vulnerability to a weak dollar
liffe is preparing for an early listing of yen bond futures after receiving approval from japans finance ministry last december
csr not only gets the 985 mln dlrs but also has the right to share equally with esso any higher returns resulting from an oil price over 20 us dlrs a barrel in the next two years
he said there is caution in the foreign exchange market against a further rise of the yen and mark and this explains the recent stability in the currency markets
the company now has about 55 mln shares outstanding
it did not however place any restrictions on the administration as it proceeds to reflag the kuwaiti ships and thus has no immediate effect on us policy
its latest estimates also suggested a 667 pct rise in soybean sowings to 80000 ha from 48000 last year
varian associates inc said it acquired all the outstanding stock of closely held analytichem international inc for an undisclosed amount of cash
norstar is based in albany ny first connecticut has assets of about two billion dlrs
upon such an agreement waste management said it would amend its 27 dlrs a share cash tender offer
natural gas exports fell 163 pct in the month 251 billion cubic meters and canadian sales eased 102 pct to 525 billion cubic meters
guinn also told analysts that the company faced some regulatory uncertainties in ongoing rate cases at its pacific bell operating company
vms mortgage investors lp ii said it declared a first quarter 1987 cash distribution of 21 cts a depositary unit up five pct from the prior quarter
it said it had also made significant progress in repaying debts and at year end the ratio of debt to shareholders funds had fallen to 101 from 154
todd shipyards corp omits qtly common div sets preferred payout
it said it expects to add 150 minit lube fast lubrication service centers in 1987 at a cost of 75 mln dlrs
cycare systems inc an information processing systems company said it purchased the assets of control data corps medtec unit for undisclosed terms
the company said its tender offer for all common and preference shares expired last night
natioonal medical enterprises inc 3rd qtr oper shr 46 cts vs 51 cts
however it proposes issuing new equity in a subsidiary that would operate dome assets
after satisfaction of its liabilities and obligations the trust would make a second distribution to its beneficiaries of any remaining cash on or about april 29
though many sources agreed they added that the trend would probably not continue next year as the further tax cuts come into effect
it also said the sale will be offered through an underwriting group managed by johnson lane space smith and co inc and interstate securities corp is proceeds will be used to reduce short term debt the company said
the us is to lend sudan 57 mln dlrs to buy 309000 tonnes of wheat and 73000 tonnes of wheat flour according to an agreement signed here
brazilian science and technology minister renato archer said brazil will keep its computer market closed to foreign goods in order to give its own infant industry time to develop
universal medical umbiz distribution set
economic spotlight japan buying overseas firms
manufacturers hanover corp said it placed 14 billion dlrs of medium and long term loans to brazilian borrowers on non accrual as of yesterday meaning that income will be recorded only when actual cash payments are received
ivaco inc year net
under the new law the government will insure japanese companies who pre pay for imports against loss arising from everything from war to bankruptcy of the foreign firm they are dealing with
pig feed was 170800 tonnes versus 171600 and poultry feed 287600 compared with 256600
ibc acquisition corp said it received about 8857807 interstate bakeries corp shares in response to its tender offer for up to 8053181 shares that expired october 16 and it will purchase about 909 pct of the shares tendered
testifying before the senate banking committee volcker said that europe and japan were slowing exports and that growth in those countries was also decreasing
three sets of measures have been announced since last may which broadened areas for foreign investment reduced trade restrictions and liberalised imports
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
snyder soi makes cenergy crg exchange offer
january 31 end oper shr profit 16 cts vs loss six cts oper net profit 2879000 vs loss 958000 revs 419 mln vs 241 mln avg shrs 182 mln vs 158 mln year oper shr profit 49 cts vs profit 18 cts oper net profit 8660000 vs profit 2832000 revs 1418 mln vs 875 mln avg shrs 178 mln vs 158 mln note net excludes extraordinary tax charge 156000 dlrs vs credit 2257000 dlrs in quarter and credits 1041000 dlrs vs 3589000 dlrs in year
since the start of the coffee year last october private exporters were on average allowed 350000 bags of 60 kilos per month
chirac is expected to canvass support for the idea first proposed by french agriculture minister francois guillaume during his two day visit to washington
the cash alternative would offer the equivalent of 4002p a share
the total western europe area is put at 249 mln ha against 250 mln in 1986
mcfarland said former holders of petrominerals will have a 25 pct interest in the combined company
japan is one of indonesias key trading partners taking half its oil exports
in that case it said if more than that minimum number of shares were tendered it would buy shares on a pro rata basis
standard and poors corp said it downgraded six us money center bank holding companies affecting about 133 billion dlrs of debt securities
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
subsidized wheat to the soviet union is still not a foregone conclusion the state department official said
at least two mln silver coins and several hundreds of thousands of the gold coins will be minted he said
tandy tan 3rd quarter revenues up 12 pct
jwp inc said it sold 30 mln dlrs principal amount of its 925 pct senior notes due 1996 to certain institutional lenders
shr 15 cts vs 15 cts net 2407000 vs 2393000 revs 1172 mln vs 671 mln note aggregate judgments in antitrust and other suits of 77 mln dlrs not included in year ago or 1987 1st qtr results
boliden already owns 50 pct of a gold ore deposit in saudi arabia but the new venture will be the first saudi mine to open in modern times
house of fabrics hf quarterly dividend
agriculture minister achmad affandi in written remarks distributed today as indonesias 14 foreign donor nations met at the hague said the general argument presented by the bank for this free trade open economy view is weak the bank called for overhauls in how indonesia manages the largest farm area in south east asia and said agricultural growth was stagnating under subsisides for rice farming
citibank a s ccin the norwegian subsidiary of the us based bank said it made a net loss of just over six mln crowns in 1986 although foreign bankers said they expect it to show 1987 profits after two lean years
baker confident banks will make big new loans to major debtors in 87
the spokesman said het comite will provide financial and legal backing to the test case in the business administration court in the hague
at the time the company said it would buy back 30 mln shares or 16 pct of the outstanding stock
texas american energy corp tae 1st qtr
gencorp gy stays on s p creditwatch negative
investment advisor said it sold the entire 604000 share stake between march 13 and 16 at prices ranging from 2425 to 24625 dlrs each
the company also announced the formation of rare tech minerals inc a wholly owned subsidiary
central bank general manager hector neyra told reporters many of the credits were 90 day
armcos steelmaking operations are profitable the balance sheet has been improved and its oilfield equipment business has been slimmed and put in a joint venture with usx bradford noted
volkswagen dividend unchanged on 1986
oil stocks in western europe were 1474 mln tonnes down from the 154 mln tonnes on january one but still equivalent to 94 days of consumption
the ida credit is for 50 years including 10 years of grace and carries no interest the bank said
the company said the capacitor business is part of emharts electrical and electronic group marketed under the mallory brand name
the buffer stock working group of consumers and producers was set to meet later today to debate the proposal jointly for the first time they said
oil industry analysts have forecast oil prices to average about 18 dlrs a barrel for the year and many believe that a move above that level will be unlikey for the near term
concerning saudi arabia oakley said we are moving forward in our talks on how we can tailor our efforts and security cooperation to facilitate our gulf operations
he said there were difficulties in negotiating with the previous renault management on the acquisition because they were committed to the groups business plan of which amc was an integral part
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
whether the european communitys council of ministers will approve a proposed tax on vegetable oils that has sparked threats of us retaliation is uncertain an ec official said
calls to davis were referred to lee solters who handles public relations for davis
a spokeswoman for the ec commission in brussels told there has been no change in the communitys position since a march 16 meeting of foreign ministers which sent a strong warning to tokyo on trade imbalances
ab catena in which ab volvo volvst has a 48 pct stake said it was proposing a two for five stock issue that will raise the companys equity capital to 420 mln crowns from 300 mln
brazils 14 bank advisory committee expressed grave concern to chief debt negotiator antonio padua de seixas over the countrys suspension of interest payments according to a telex from committee chairman citibank to creditor banks worldwide
richard jeffrey economist at stockbrokers hoare govett said in a comment it is unlikely that lawson will respond to signals from m0 alone reinforcement from exchange rate trends is necessary before action is taken with the chancellor making clear that policy manoeuvres are made in response to signals from this narrow money variable the city has been forced to take it seriously he added
shareholders wondering whether to tender either to the tractebel consortium or to the rival 700p per share partial offer from shv holdings nv should consult professional advisers
german veba placement said likely early next week
exports dropped to 1066 billion crowns last month compared with 1111 billion in january and 1085 billion in february 1986 it added
he said detailed arrangements for their issue would be finalised after talks between the federal authorities and the western australian government owner of the perth mint
total fees of 1 7 8 pct comprise 5 8 pct for management and underwriting and 1 1 4 pct for selling
industry sources said that the oil companies were likely to feel greater pressure on their operations in southern europe where competition from the opec countries is increasing as these producers move further into downstream operations
it said a 20 mln dlr loan is being made to help finance a project designed to test strategies to improve the quality and cost effectiveness of agricultural extension services
final 1986 crop deficiency payments will be available to feed grain producers in october
rowley scher did not disclose details of the sale of mid south repro
he attributed this growth to declining electricity prices and a strong new england economy
technically most currency futures are poised for another rise said smith barney harris upham analyst craig sloane
it said it plans a dramatic reduction in overhead costs that should improve results
intercare care to post 4th qtr loss
argentinas alfonsin meets imf chief camdessus
in 1984 the company was renamed uccel corp
the bank now controlled by brunei is seeking repayment of about 900 mln singapore dlrs in loans guaranteed by khoo
nafco financial group incs naples federal savings and loan association said it revised a loan agreement with punta gorda isles
national pork board allocates 24 mln dlrs
imperial oil imoa to focus on higher profit
french exporters estimated that around 600000 tonnes of french soft wheat has been sold to china for delivery in the 1986 87 july june year
until the close of business on april six the debentures are convertible into the companys common stock at 1750 dlrs per share or 5714 shares per each 1000 dlr debenture
negotiations to delay shipments to next year have been indecisive so far the main sticking point being how brazil should compensate buyers for non delivery of sugar it had sold at around five cents per lb and which would cost eight cents to replace
if they japan were to retaliate it would probably be on something like american agricultural products he said
ford f credit unit sells notes at 695 pct
the company said the unit accounts for less than two pct of norton revenues and is being sold because growing societal pressures in the united states and the unsettled situation in south africa had required a disproportionate amount of management tiome to oversee norton said the unit is profitable
darman said such negotiations with newly industrialized countries were underway privately
he said that one of the governments negative actions is the maintenance of the windfall profits tax which acts as a disincentive to developing existing fields and reduces cash flow for oil exploration
a close above the contract high of 07665 would signal a breakout sloane said and would likely mean the nearby canadian dollar contract would extend its advance to near the 07800 level
in order for bonds to break above the top of the range which is just below 102 in the june contract the crude oil rally needs to run its course and pull back a little bit singer said
agreement reached in greek alumina deal with moscow
taiwan bought 25000 tonnes us soybeans today at 20340 dlrs a tonne c and f gulf for may 15 30 shipment private export sources said
it said the increase will affect the floor covering markets paper paperboard and specialty markets
the company said it expects earnings for fiscal 1987 ending june 30 to rise more than 75 pct over a year ago
lomak lomk strata strata in merger pact
the purchase valued at 148 mln dlrs follows the recent acquisition of londons johnson matthey commodities limited deak said
non callable for five years the debt is rated b 2 by moodys investors service inc
uk trade figures buoy hopes of interest rate cut
theyre well run theyre a good investment theyre doing well in a growing market and thats the way we want to keep it szynkarsky said
she said the fed bought bills maturing from may through september 24 for regular delivery tomorrow
the proposed offering includes 150 mln dlrs of 30 year debentures and 150 mln dlrs of 10 year notes the company said
pentron corp pen unit to buy ice creations
the exploratory well spudded at a depth of 2140 metres yielded 2000 barrels of oil and 180000 cubic metres of gas per day he said
fees involve 1 1 4 pct for selling and 5 8 pct for management and underwriting combined minus 1 8 pct for the co leads
the striking leader began his fast as leaders of 9000 miners employed by the state corporation comibol were due to star negotiations on ways to solve their conflict over pay
diamond shamrock last changed its postings on march 4
mitsui buys five pct stake in us chip maker
the company said it extended the offers to allow more time to complete the previously announced sale of its mueller brass co unit to conclude a definitive agreement with the united steel workers union and to meet the conditions of the mueller sale and exchange offers
rr donnelly and sons co said it reached an agreement with adams russell co inc aar to sell adams its rockford ill cable system for an undisclosed price
it used to be a chevrolet dealer was a chevrolet dealer
bank of japan calls for long term efforts on trade
manufacturers mhc puts brazil on non accrual
conger said he anticipates 1987 exploration budget will be about the same as 1986 spending of 273 mln dlrs
the official said ivory coast continued to support the new pact which was agreed in principle last year by most of the worlds cocoa exporters and consumers
french oil group total cie francaise des petroles tpnpa is still expecting a 15 billion franc consolidated net loss including minority interests for 1986 after taking account of stock losses of 75 billion francs the company said in a communique after a board meeting here
the bonds were issued at a price of 96 16 32 stg pct partly paid as to 40 stg pct on application although the government broker this morning sold them at a premium of one stg pct over the partly paid issue price
mexico on the other hand dropped to 13 16 from 14 16
waste management inc said it sent a letter to the chemlawn corp board saying it is prepared to increase its bid for chemlawn to 33 dlrs a share from 27 dlrs if chemlawn promptly negotiates and executes a simple two step merger agreement containing only essential covenants and conditions
actual output was estimated at 151 mln tonnes in 1986 87 due to failure of monsoon rains in 15 out of 35 meterological sub divisions of the country
daniel ryan will become president of leader
however haughey said ireland had in the past used its position within the ems to make borrowings in europe at favorable interest rates notably for onlending to its farming sector
corn sales gained 2494900 tonnes in the week ended february 26 the highest weekly total since august 1984 and two and three quarter times the prior weeks level the us agriculture department said
taken in conjunction with m 2 and m 3 aggregates which kahan said have slowed to a crawl below federal reserve board annual targets the consequences could be a hint of economic weakness down the road he said
imports are forecast to fall in the current year but to rise in 1987 88 because of a new soybean crushing plant due to come on stream in early 1988
national beverage to acquire faygo beverages
for 1986 newmont reported net income of 742 mln dlrs
us treasury market ends sharply higher
inros five day moving average was quoted at 2373 cents on october 16
cyclops cyl board restructured to include dixon
kapok corp said it has cured technical defaults on laons from southeast banking corp stb and murray steinfeld and has negotiated extensions of both loans
armtek spokesman john sievers said s and a is a 50 mln dlr business
if congress approved 0 92 later in the year sign up either would have to be extended or reopened sources said
this lack of real yen demand through the freer euroyen market is undermining the 1984 us and japanese accord to internationalise the yen they said
the increase brings suns posted price for the west texas intermediate and west texas sour grades to 1750 dlrs bbl
sloane said the consensus estimate for the non auto sector of retail sales is for a rise of 06 to 07 pct
note company said the dividend would apply to shares issued under capital increases during 1986
no fresh proposals other than the colombian initiative had been tabled formally today delegates said
some arbitragers however said takeover values have been placed on the company of 60 to 65 dlrs per share
commerce bank also said it will continue to adopt an agressive posture in adding to its general provisions against loan exposure to 34 countries designated by the federal governments inspector general of banks
the bank of france which was reported buying dollars against the yen in paris had made inquiries with swiss banks as well and the bundesbank had also intervened
japans trade surplus is expected to narrow slightly to 902 billion dlrs in 1987 88 ending march 31 from an estimated 98 billion in the current fiscal year it said
a proposed 300 mln dlr debt offering will increase leverage though proceeds will be used to redeem high interest cost debt
it needs something but its not going to be news about the economy he said
under french privatisation law foreign companies are restricted to a 20 pct stake in privatised companies
cityfed financial corp said its city federal savings bank has a preliminary agreement to sell 14 consumer lending offices to goldome fsb for undisclosed terms
but analysts said the budget speech did not give any clear cut indication about the timing of the general election which has to be held before june 1988
without these the net loss would have been 145 billion francs it said
first financial management corp said it acquired confidata corp a unit of north ridge bank paying 500000 dlrs in cash and pledging a guarantee on a 500000 dlr confidata note held by north ridge
merrill lynch capital markets backed by a group of investors it organized has launched a 4850 dlr a share tender offer for borg warner for 90 pct of its stock
a spokesman for the institute said the declining value of the dollar and strong promotional efforts on the part of the california wine industry contributed significantly to the increased shipments
a storehouse official confirmed that the issue was aimed at swiss and german investors who were showing good interest
west european nations have so far shown little enthusiasm for backing a us plan to give military protection to merchant ships in the gulf which could help insure the safety of oil supplies
other countries are already cutting into the us market share here
outsiders like the world bank are reluctant to suggest possible solutions to brazils economic problems because of the delicate political situation there he added
american said assets included nine leases totalling 2600 acres various working interests in 15 oil and gas wells on that property all equipment and machinery necessary for operation and a 50 pct interest in a nine mile gas pipeline
the government move is aimed at protecting goodwoods minority shareholders and securing goodwood deposits at the nbb the banking sources said
we are looking again at the undertakings that we have demanded of existing bidders and which we would seek of any future bidders the spokesman said
nippon life insurance co is pursing a possible link with an american securities house to expand its overseas investment portfolio a company spokesman said
torrential rains halt argentine grain harvest
fnma announces 10 and 20 year mortgage products
but that confidence is now cracking as the financial markets suddenly believe fed chairman paul volckers often repeated warnings about the risks of a dollar collapse
the louvre accord was greeted with scepticism by currency dealers who said they would soon put it to the test
gasoline prices rose 42 pct last month after increasing 66 pct in january but were still 18 pct below levels of a year ago the department said
shulansky
shr not given oper net profit 405914 vs loss 145380 revs 2446901 vs 1295187 year shr not given oper net profit 1211465 vs loss 178101 revs 9085222 vs 4995735 note earnings from 1983 on benefit preferred shareholders until preferred shareholders equity equals or exceeds liquidating and mandatory redemption values
fourth quarter and full year 1986 reflect non recurring charges from change in control at company
ford f selects firm to automate plant
analyst lawrence cohn of merrill lynch and co said it is unlikely the situation will be resolved until the second half of this year
the backlog of orders at end february was 157 ships of 441 mln gross tons against 161 ships of 439 mln a month earlier and 265 vessels of 681 mln a year earlier an association official said
shell has not released projected output levels for the field where water depth is 240 270 meters
in 1986 mitek reported sales of five mln dlrs and a net profit of 14000 dlrs
piedmont aviation recesses meeting without taking action on merger proposals
mexican first qtr crude exports seen at 1525 dlrs
us could complain to gatt on canada corn duty
funaro was in britain on the first leg of a tour of european capitals to explain the motives of the brazilian debt moratorium and to seek support for intiatives to improve capital flows between developed countries and third world debtor nations
merrill corp mrll 4th qtr jan 31 net
to avoid souring relations with german banks they now cooperate with japanese houses may prefer finding borrowers so far not seen in the mark sector
some other economists foresee a gain as large as five pct
the life of the issue will be 12 years
the bank said a two billion dlr increase in total assets to 987 billion dlrs was due mainly to continued growth in consumer lending particularly residential mortgages
ibm said the new organization will oversee the technical and marketing support of rolm and ibm telecommunications products but will not be responsible for sales and marketing of ibm gear
the transfers would allow the country of registration to escort kuwaiti owned ships in the gulf
a commerce bank spokesman also declined comment when asked whether it is pressing dome to sell its encor stake
in a prepared statement piedmont said there would be no further announcements concerning this situation today
manufacturers hanover files for 82225 mln dlr debt offering
neti technologies netfco sells subsidiary
shr loss 26 cts vs loss one cts net loss 699000 vs loss 20617 revs 883000 vs 11 mln year shr loss 62 cts vs loss eight cts net loss 17 mln vs loss 185003 revs 36 mln vs 45 mln
she clearly had japan in mind government sources said
it said that indonesias move into sugar self sufficiency in 1984 may have been short lived
us japanese tension over the semiconductor trade has failed to subside despite recent efforts by japans ministry of international trade and industry miti to get japanese firms to abide by a bilateral pact aimed at halting predatory pricing and opening japans market
prime minister margaret thatcher said on thursday that britain would not hesitate to use new powers contained in the financial services act 1986 and the banking bill to retaliate against countries that do not offer reciprocal market access
in addition to the sale price the government will receive teleglobes accumulated cash of 102 mln dlrs and a special 18 mln dlr dividend making total proceeds 6083 mln dlrs
national gypsum cos austin co said it signed a joint agreement with kawasaki heavy industries inc to join forces to win contracts in connection with the construction of kansai airport
february exports seasonally adjusted were 1044 billion dlrs against 985 billion in january and 1005 billion in february 1986
franklin resources is a financial services company
asked by reporters if japan was expected to retaliate against us exports deputy under secretary of commerce bruce smart replied that would be the height of foolishness in addition he doubted japan could show enough progress in meeting the conditions of the agreement to avoid the actual imposition of the 300 mln dlrs in tariffs on april 17
in a speech to the institute of contempory german affairs here poehl said it would be an extremely risky policy to aim for a further substantial decline in the value of the dollar to correct the trade deficit he said the united states could face a vicious circle of depreciation inflation and more depreciation if it took that route
however it would not add much to profits with much of the companys operating profits paying for the acquisition costs
finlands mining and metals group outokumpu oy outohe which last week reported a 1986 loss of 83 mln markka after three successive years of profits said it restructured its key copper processing division in an attempt to rationalize production and improve profitability
the non binding measure asked for a probe by the us trade representative to determine within 30 days whether the tariff violates the general agreement on tariffs and trade and if so recommend within 60 days to president reagan retaliatory action against canada
nmc acting general manager john rubibira said tanzania has only 56000 tonnes of silo storage capacity concentrated in dar es salaam arusha in the north and iringa in central tanzania
stricter definitions here also mean the use of a version of the us uk proposals could far exceed the intent of the us and british authorities the sources said
ministers also called on the ec commission to prepare a report on us japanese trade for july this year to enable them to take appropriate action where necessary
the company said the split is subject to approval of the securities and exchange commission under the public utility holding act
a private placement recently brought the number of outstanding shares to 106 mln up from 971 mln shares on july 31 1986 the fiscal yearend
french operators have requested licences to export 675500 tonnes of maize 245000 tonnes of barley 22000 tonnes of soft bread wheat and 20000 tonnes of feed wheat at todays european community tender traders said
it looks like a reasonably harmonious visit in prospect more harmonious than usual since taking office a year ago chirac has been obliged to deal with a series of potentially serious disputes with the united states
fed funds were trading at 6 11 16 pct compared with fridays average of 663 pct
plc dlarl proposes to offer ordinary shareholders the opportunity to receive their dividends in the form of new shares as an alternative to cash
in addition the united states must reduce its budget deficit and foreign nations need to provide stimulus to their domestic economies volcker said
japans external reserves rose to a record 5173 billion dlrs at the end of february from the previous record of 5146 billion at end january the finance ministry said
shr loss 14 cts vs loss one ct net loss 836327 vs loss 34926 revs 8939390 vs 8136160 year shr loss 34 cts vs loss nil net loss 2008103 vs loss 14078 revs 301 mln vs 280 mln note year ago results restated to reflect acquisition of spartacus inc in febaruary 1986
july soymeal has already moved to a premium over the august through october months and old crop july new crop november soybeans may also move to a july premium later this month they added
qtly div class a 275 cts vs 264 cts prior qtly div class b 25 cts vs 24 cts prior pay june one record may one
addressing a gathering of analysts and institutional investors marshall also said that analysts estimates of its first qtr earnings 50 cts to 55 cts per share were in the ballpark marshall said the full year estimates represent more than a 32 pct increase over 1986s fiscal year net of 170 dlrs per share
international business machines corp hit by a two year earnings slump should begin a come back by the end of 1987 and post strong growth in 1988 analyst rick martin of sanford c
the kenyan shilling has lost 56 pct of its value against the sdr this year in a series of devaluations designed to keep the value of the dollar above 16 shillings
skanska to take stake in canadian firm
the company bought back the financiers stock and carried out a wider share repurchase
envirosure management corp envs 1st qtr loss
puerto rican cement co prn sets payout
the changes follow similar cuts yesterday by citicorp and chase manhattan
genetics institute inc genio 1st qtr loss
monsanto chemical company a unit of monsanto co mtcn is to acquire the polyphenyls business of rhone poulenc chimie a unit of rhone poulenc rhonpa monsanto said in a statement issued from its european headquarters
grolier has also reduced its exposure to developing countries moodys noted
it merely reflects the realistic carrying value of the companys assets in todays economic environment and the absolute need for reaching a timely agreement with our lenders on a debt restructuring plan to assure the companys continued existence he added
asked if he would proceed with production controls without the support of corn refiners huckaby said you build a fragile house if you do it that way huckaby said he understands why us cane and beet farmers have expanded production because high sugar price support means returns from sugar are higher than competing crops such as soybeans and grain
it said the new intermediate term mortgage purchase programs are designed to offer home buyers more home financing flexibility
brennan said brazil is currently exporting products like paper machinery and ships to canada
the japan fund jpn gets buyout offer
the obvious question is whether these numbers indicate that the consumer activity is slowing but it does not appear to be because liquidity and employment are rising said analyst jeff edelman analyst of drexel lambert and burnham
when completed aristech said the project would increase the plants annual production to 264 mln pounds from 165 mln pounds now
the adjusted producers shipment index base 1980 for january was revised upward to 1177 from a preliminary 1174 the index was down 07 pct from december when it rose three pct from a month earlier
collins foods cf to redeem debentures
mcandrews and forbes are offering 1850 dlrs per share for revlon stock
taiwan 1986 balance of payments surplus is record
securities houses banks insurance companies and consumer credit companies are barred from cp issues they said
ussr wheat imports are forecast at 1500 mln tonnes in 1986 87 vs 1400 mln tonnes last month
analysts applaud csrs bold move to sell delhi
the house today approved a bill requiring the reagan administration to report to congress on its mideast gulf policy but not restricting its actions
from ges point of view the package looks like a good deal for several reasons heymann said
this should discourage banks from bidding high to ensure that they were successful while paying the lower marginal rate analysts said
the present scheme was approved as an emergency measure to help poor people affected by this years unusually cold winter and will end on march 31
the assests to be acquired by the partnership are valued at 190 mln dlrs union pacific said
it said he intends to ask other members of senior management to participate
jacoby was not immediately available for comment on the report
he said in an interview with that after a few years it was likely south korea would drop barriers to foreign goods and move toward a more balanced trade position
leigh pemberton said that the effectiveness of this cooperation is actually larger than many of us had thought in the pre plaza days before september 1985
cadillac fairview says it has received some acquisition proposals
john o
kaufman says greenspan nomination bad for bonds
first bank system inc said it has found a potential buyer for first bank luverne and its office in pipestone minnesota
it also said the agreement includes an initial purchase of 173 engines by the us marines under a program that will result in a fleet of 560 m1 tanks
talks have been slowed by the fact that fundamental changes would require a revision of germanys credit law which has been in effect since 1934
century ccco to buy to puerto rican co
r steven lutterbach chairman said net income for 1986 was adversely affected primarily due to lower operating margins at the companys western environmental subsidiary and to an increase in bad debt reserves
fresh talks are expected to be held early next week but the actual date has not yet been fixed he added
brascan ltd brsa 4th qtr net
todays announcement brings to 157 the number of goods for which similar measures were taken this year a ministry official said
bangladeshs trade gap is expected to widen in fiscal 1987 88 beginning on july 1 after the government relaxed restrictions on some imports including luxury cars
the investors include ingemar rydin industritillbehor ab of sweden and vbi corp of the west indies
bankers said this could foreshadow a revival of the 1986 war of words between the us and west germany in which us officials talked down the dollar to force west germany to stimulate its economy and thus suck in more us exports
sumita told nakasone he did not feel a rate cut was appropriate and nakasone expressed his understanding the sources said
asea capital issues 10 billion yen bond
brown group inc bg 1st qtr may 2 net
the company said it is in the final stages of talks with oxford over the terms of the proposed acquisition
manufacturers earnings hit hard by the yens steady rise against the dollar will rise 77 pct in first half fiscal 1987 after falling 107 pct in the second half of fiscal 1986 it said
duff scott told the toronto star
santos hodeidah 10000 mt bagged sugar about 30 dlrs 750 750 20 30 4 a c dutch charterer
beazer will grant underwriters an option to purchase another 937500 adss to cover overallotments
but a us court of appeals last july vacated the award ruling that the chinese government was entitled to sovereign immunity and dismissed the lawsuit
bouygues closed on the paris stock market at 1451 francs on friday up from 1405 the previous day but well below its years high of 1475
ecuador will resume limited crude output next week to fill up storage tanks as a first step to pump oil to a colombian pipeline on may one the state ecuadorean petroleum corp cepe said
the government has said its budget deficit financing requirements will fall to 24 billion dlrs in the fiscal year ending march 31 1987 from 30 billion dlrs the prior year
light sour crudes were raised to 1995 dlrs a barrel the company said
an increase in revenue from other sources was not planned
corrects company name gghf in first paragraph
pennzoil co chairman j
the company also said british petroleum co plc bp last week refused to accept an order for fuel oil
gpu said its operating subsidiaries will seek to recover the costs of decommissioning tmi 2 in future rate proceedings
the offering which expires on april 27 unless extended is for up to 2250000 shares with the company reserving the right to accept three mln shares republic also said
security is has been and continues to be a highly profitable and obviously well managed company he said
aristech chemical corp chairman and chief executive officer thomas marshall said analysts estimates of its 1987 fiscal year earnings of 225 dlrs to 250 dlrs per share are about right
a successful new gatt general agreement on tariffs and trade round is needed to halt growing bilateral trade problems between major trading partners us trade representative clayton yeutter said
underwriters may include salomon bros inc and merrill lynch it said
mcgraw hill inc said it bought medecines et sciences internationales sa a french healthcare publisher from harper and row publishers inc
bomani called on the ico to convene another meeting within two months saying once tempers have cooled and delegations have had time to report back to their headquarters common sense will prevail
oper shr loss 44 cts vs profit 58 cts oper net loss 27 mln vs profit four mln revs 133 mln vs 284 mln avg shrs 61 mln vs seven mln note prior year excludes extraordinary gain of 21 cts per share
the committee backed by committee chariman fernand st germain d ri and house speaker jim wright d tex voted 25 24 to change the amount of borrowing authority
thirteen provinces mainly in northeast and eastern thailand have been suffering a worse than average drought since mid february and the dry spell is expected to last until early may deputy interior minister santi chaiviratana said
the trading gains and lower acquisition costs gave exxon more of a spread in its refinery operations and added to earnings gains from refining and marketing
young explained that the company had planned to protect itself against the chance of rising interest rates by buying a complicated hedging instrument
the company also declared a regular cash dividend of four cts a share and reported 1986 net income rose to 171 mln dlrs from 115 mln dlrs
the securities are available in denominations of one mln yen each and will be listed on the luxembourg stock exchange
nz trading bank deposit growth rises slightly
all mr
usda puts march 1 us corn stocks at 8246849000 bu soybeans 1384208000
qtly div six cts vs six cts prior pay april 10 record march 31
its record losses have been caused by its past status as one of the nations top lenders to oil and gas producers and suppliers during the boom days of the late 1970s and early 1980s
in contrast producers wanted stop gap quotas to plug the seemingly bottomless market and were prepared to allow these to lapse should lasting agreement not be found
cpl real estate cntrs sees lower dividends
franklin california tax free income fund payout
this takes the banks total assistance so far today to 928 mln stg and compares with its forecast shortage which it earlier revised up to 850 mln stg from 750 mln
k mart km selling kresge to mccrory
soil moisture supplies rated 41 pct adequate and 59 pct surplus
fleet and norstar in a joint statement billed the proposed merger as a partnership of two companies both will continue to operate existing headquarters after the merger
cotton and rice are pakistans main exports which have been handled exclusively by state corporations since early 1970s
shr 14 cts net 510917 sales 123 mln note share adjusted for five for four stock split in january 1987
us bank discount window borrowings less extended credits averaged 361 mln dlrs a day in the week to wednesday april 8 the federal reserve said
herold inc of greenwich conn said that the appraised value of the company based on available data is 3425 dlrs
the partners would look into the feasibility of a plant producing 500000 tonnes per annum of mtbe an octane enhancer that can replace tetra ethyl lead
schwab completes purchase of schwab and co
charter crellin a molded plastic product maker said sebro is a precision molder of engineered specialty plastic products for the automotive industry
goldman sachs and co told the securities and exchange commission it sold nearly its entire stake in first pennsylvania corp of 2450598 shares or 52 pct of the total outstanding common stock
the spokesman confirmed that volcker who spoke to a group of financial analysts said in answer to a question about the dollars recent slide that enough is enough volcker has often expressed concern about the dollar falling too rapidly in currency markets
the official media was initially slow in reporting the accident but under kremlin leader mikhail gorbachevs campaign for openness gradually gave more and more details
the department said the action increases the feed grains line by 23 mln dlrs to 63 mln the oilseed line by seven mln dlrs to 52 mln and the wheat guarantee line by 20 mln to 165 mln dlrs
harsco corp hsc sets regular payout
the companys overseas ambitions were whetted by heightened domestic competition and impressive growth at its london bank operations which attained full british banking powers in 1980 cornelissen said
the conditions were that cyclops provide cyacq with non public data given to dixons and that cyacq be satisfied with financial projections made by dixons in its offer
japans livestock industry promotion corp lipc said that on april 28 it will import 7515 tonnes of beef for the first half of the 1987 fiscal year started on april 1 under the simultaneous buy and sell tender system against 6813 a year ago
a delegate from one of the eight said more producers now supported their cause
it is designed to work with most personal computers including those made by international business machines co ibm brilliant said there will be a one time set up charge of 1000 dlrs for the software which will cost 40 dlrs per hour to use
the typical salaried employee has 733 mln yen in savings reflecting an annual average savings rate of 17 to 18 pct he said
more brusca believes the fed will have to add 35 to four billion dlrs a day in reserves in this statement period
other bankers however said mexicos motives were not so sinister and that the suspension was mainly due to the absence of top ministry officials in new york for the debt talks
employment in manufacturing industries fell 430000 from a year earlier to 1422 mln people in february due to the yens continued appreciation while employment in non manufacturing industries rose 380000 to 1211 mln
record or near record livestock inventories along with a dry fall which likely reduced late season pasturage and a cold winter have increased feed demand usda said
monsanto mtc invests in biotechnology biod 
us gulf of mexico rig count climbs to 389 pct
brierley investments overseas nv is issuing a 100 mln dlr eurobond due april 30 1992 paying 8 1 4 pct and priced at par lead manager banque paribas capital markets said
de croo was also in washington for trade talks
he said his offer has been extended based on the likely duration of the regulatory process
under the previous agreement between chrysler and renault their letter of intent would be terminated on april nine or when an agreement was reached
the central banks are sending strong signals that they wont tolerate any kind of momentum building behind currencies added a senior corporate trader at one uk bank
it also said the participation of epac which still controls the national grain storage and distribution network was unfair competition to the private traders
this week therefore us officials signaled their backing for a novel proposal by the philippines that called for partial payment of interest in tradeable investment notes
ecuador said on friday that last weeks earthquake was forcing it to reaffirm an earlier decision based on the slide in world oil prices to suspend debt payments to private foreign banks which hold two thirds of its 816 billion dlr foreign debt
the acquisition gives hearst its biggest newspaper holding in texas where the california based publisher already owns papers in san antonio beaumont and laredo
bangladesh will receive a grant equivalent to 47 mln us dlrs from the netherlands during 1987 under an agreement signed here saturday officials said
industrial action ends at south african mine
the issue is guaranteed by american express co
cuban sugar export figures for january suggest that this years crop may be at least as large as last years 735 mln tonnes according to sugar analysts
senate agriculture committee chairman patrick leahy d vt slammed the proposed eligibility changes telling fmha administrator vance clark at a hearing that they would mark a dramatic shift in the agencys purpose away from being farmers lender of last resort toward becoming a big city bank but clark defended the new regulations saying the agency had a responsibility to administer its 70 billion dlr loan portfolio in a compassionate yet judicious manner crowley of gao congress investigative arm said the proposed credit scoring system attempted to ensure that fmha would make loans only to borrowers who had a reasonable change of repaying their debt
the agency is moving to seize all us assets of both men which they could forfeit if they do not contest the case the sec official said
the soviet union also produces 9950 pct but has declined as an exporter recently they said
gross fees of 1 1 4 pct comprise 1 2 pct for management and underwriting combined and 3 4 pct for selling
economic spotlight dutch exchange rate policy
there is great expectation in the world for the policies that brazil and colombia will adopt
they said maritime unions imposed bans on late wednesday for reasons that are obscure but seem to be linked with claims for a pay rise above the 10 dlrs a week awarded by the arbitration commission nationally to all workers recently
the interpretation makes clear that waiving a minimum share condition is a material change of the tender offer under us securities law sec officials said
the january index base 1980 was set at a provisional seasonally adjusted 1904 down from 1934 in december
the benefits of such approaches may be substantial and may in the right circumstances be easier to achieve than new money packages he said
japan rebuffs britain in telecoms row
the closer to that stage the more vulnerable the head of the wheat is to cold weather he said
for the year ended may 31 1986 the company reported a net loss of 112 dlr per share or 53 mln dlrs on revenues of 776 mln dlrs
joe gold said the golden patricia vein has not been tested at depth or along strike to the east and west and exploration is continuing on the golden patricia property and the adjacent wholly owned muskeg lake property
western federal savings bank wfpr ups payout
the meeting which finished over the weekend also decided to allow a radio determination satellite system which would enable fleet owners to trace to within about 15 metres the movements of their lorries or cars or ships around the world
bancroft bcf sues zico
officials of several countries have been asked to contribute data to oecd so that the study can be updated to 1985 subsidy levels a much more relevant measure of the current world farm situation
first marathon fmsato plans stock split
hudson foods inc said it has agreed in principle to acquire thies cos inc a poultry beef and pork products provider to midwest supermarkets and food distributors with sales of about 69 mln dlrs for the year ended november one
japan beef price support cut will not raise demand
gardini commenting on callebauts remarks said the 630 mln dlrs agreed for the cpc acquisition would be paid at the date foreseen in the preliminary contract gardini could not reveal the date in question nor give any indication of the likely timing of an offering of shares in european sugar but it was announced last week that ferruzzis purchase of the cpc business was expected to be completed by september 30
uk money market given late help of 210 mln stg
in the past year tough trade action had been taken against the european community over corn and sorghum taiwan over beer and wine south korea over counterfeiting of copyrights patents and trademarkets and japan on tobacco
it said an earlier ballot of refinery workers showed that most favoured striking over the move but added that no final decision had been taken on strike action
feds seger says foreign exchange markets showing signs of stability
he made no mention of japanese interest rates
simon is also accused of perjury and forcing one of his employees to pay him 14000 dlrs in salary kickbacks
although talks had been held in recent weeks between the south africans and the banks the completion of the agreement on the repayments took many in the financial community by surprise
it concerns a barclays bank managed loan to fertilizer company planter products inc said teofisto paterno chairman of the foreign debt committee
the office said output of the investment goods industries rose 01 pct while consumer goods output increased 06 pct
a spokesman for usair declined comment and said usair had not changed its offer for piedmont
the bank said two loans will support jamaicas structural adjustment program a 40 mln dlr loan for trade and financial sector adjustment and a 20 mln dlr loan for the public enterprise sector
kistler said hughes would be willing to consider a compromise counter proposal but declined to be more specific
a multiple of ten times earnings would be the top whack for the brewing division in the current guinness situation he said
he estimated the profit potential for his company on the sale at five to six pct
by contrast however the federal government was able to reduce its credit drawdown at the central bank by 900 mln marks to 900 mln
banks which found this level unacceptably low would be offered an alternative of libor payments in cash and a margin above that of one pct in the form of philippine investment notes
845 billion cash flow 956 mln francs vs
opec president says output well below ceiling
the company said it is also selling 543237 shares to healthcare international inc hii giving the company a 98 pct stake in healthvest
this summer could be a good season for selling gasoline hemminghaus said adding that the new company will be primarily a gasoline producer
prices have fallen so far that only about five firms still make markets in them
the injection of capital in phb and in uab including the recamp of management in these banks are some of the measures taken by the bank to strengthen public confidence in the stability of the these banks it added
icn pharmaceuticals inc told the securities and exchange commission it has acquired 556500 shares of syncor international corp or 50 pct of the total outstanding common stock
that presupposes however that our industrial environment does not worsen he said alusuisse would no longer face the burden of past losses
finance minister beshir omer quoted by suna said his government also rejected an imf demand to lift state subsidies on basic consumer goods
we sweep a lot under the carpet he said
the itc was informally told of the appeal made yesterday by amalgamated metal trading ltd amt against the january court ruling against it in the legal bid it led on behalf of itc creditor brokers to have the itc wound up
they also said iran was working to reopen its sassan field part of the same reservoir as abu al bukhoosh and located only a few miles away
bil chief executive paul collins said all rainbow has done is to outlay a substantial amount of cash to purchase shares from parties who presumably were supportive of the merger rainbow has proposed a merger with progressive to form a new company astral pacific corp ltd under the merger shareholders in both progressive and rainbow will be issued shares in the new company on a one for one basis
in calendar 1986 seamless pipe exports fell to 234 mln tonnes from 299 mln in 1985 and 312 mln in 1981
takemoto also dismissed us fears that the proposed takeover would violate us antitrust law saying the purchase would not result in fujitsu monopolising the us semiconductor market two separate issues appear to have come together to boost pressure to block the purchase industry analysts said
it said certificates will be distributed about two weeks after the record date
finland february trade surplus at 641 mln markka
ors corp said dominion securities alberta inc has been appointed to offer common shares in a new canadaina company being organized to exploit heavy oil production opportunities in canada and western europe
the gmac seven year notes were given a coupon of 745 pct
turbo resources ltd year net
atlantic fuels marketing corp said today it will raise the posted cargo prices for high sulphur fuels in new york harbor 50 to 75 cts per barrel effective april two
in recent statements poehl has sounded more like schlesinger
the bank in its latest quarterly review said the nominal growth rate for the year did not quite reach one pct after a 15 pct contraction in 1985
for the five year period examined government expenditures under the adequate certificate case were 70 billion dlrs or 75 pct less than under the zero certificate case
ida the world bank arm that makes interest free loans to the poorest nations said the credit will support changes designed to raise farm income by boosting production developing better crop varieties and improving farm systems
noting that such a huge rise in credit extended by banks would under other circumstances have prompted market fears of a rise in clearing bank base rates from the current 10 pct with the financial markets doing what theyre doing thats the last thing the bank of england would want to do spencer said
the company said the split was necessary in preparation for an offering of 25 mln dlrs in convertible subordinated debentures expected to be made soon through kidder peabody and co
the central bank did not post the rate of the pound to the dollar and other currencies on monday
in athens greek prime minister papandreou said that if the turkish vessel sismik 1 began research operations we will hinder it of course not with words as it cannot be stopped with words greek newspapers said the armed forces were on alert and navy ships had gone to the aegean
the administration said that the court ordered halt in drilling had created uncertainty over the 42 billion dlrs paid for 621 leases off the shores of alaska since december 1980
keihanshin real estate co ltd is issuing a 25 mln dlr equity warrant eurobond due april 27 1992 paying an indicated coupon of 2 1 4 pct and priced at par lead manager daiwa europe ltd said
in a summary of its fruit situation report the department said floridas imports of fcoj mostly from brazil have shown sharp gains to date
the issuer in both cases was citibank na
the crowns index is currently around 10960 in the basket close to its upper limit of 10950 which the central bank is committed to defending
six major industrial countries agreed at a meeting in paris in february to foster currency stability
south central bell telephone co a unit of bellsouth corp blsn placed the order with plesseys us subsidiary stromberg carlson most of the equipment for the 100 exchanges will be built in stromberg carlsons florida plant over the next three years
lefevre said the divisor will probably go up a bit but will probably be lower than its current level of 0889 later in the year due to forthcoming splits in components such as international paper co ip the divisor which is adjusted whenver stocks are split dropped below one for the first time in may of last year
the transaction is subject to fulfilment of certain unspecified conditions and regulatory and board approvals
devon din reports increase in reserves
as dealers get bigger industry officials are talking about the possibility that some of them might become publicly owned or open international operations
bnp said that if all the warrants were utilised the total of the january 1987 issue would rise to 85 billion francs
costa rica optimistic about reforming ico
mclean industries inc said its two shipping subsidiaries united states lines inc and united states lines sa inc have agreed in principle to dispose of substantially all their remaining operating shipping assets
a spokesman said the ministry had not yet decided whether to convert the issues into new bonds but it had outlined plans for two new bonds each of 250 mln francs
national data corp ndta 3rd qtr feb 28 net
braniff inc bair 4th qtr loss jan 31
the ship set off this morning from the dardanelles port of canakkale with flags flying and watched by sightseers the agency said
he told the national economic development council that the recent paris meeting of major industrialised nations had agreed on the need for exchange rate stability
soybean oil mln lbs stocks on sept 30 1987 at 1360 vs 1200 last month
he cited news reports that germany would increase a proposed tax cut for 1988 by about five billion marks to stimulate domestic growth
murakhovsky who is also chairman of the state agro industrial committee gosagroprom told a news conference he had discussed a variety of possible deals with french companies rhone poulenc pechiney and imec
dana dcn debt may be downgraded by moodys
more intermediate us wheat credits for morocco
were dead and its the government thats causing us to die declared lucien felix 34 who has five dependents
prior to tomorrows market opening the wall street journal will publish a new divisor to be used in calculating the index
shr loss 265 dlrs vs loss 231 dlrs net loss 143 mln vs loss 125 mln revs 2887000 vs 5321000 year shr loss 438 dlrs vs loss 250 dlrs net loss 237 mln vs loss 135 mln revs 132 mln vs 224 mln note 1986 net includes oil and natural gas writedowns of 121 mln dlrs in quarter and 190 mln dlrs in year
lennar recorded net earnings for the first quarter 1987 of 4403000 or 51 cts per share compared to 1775000 or 20 cts per share the prior first quarter
straits trading co ltd stcmsi year
proposed dividend 080 crowns vs 040 crowns
we might be able to see some additional value if we could meet and get more financial data said joel reed speaking for the investor group
icns principal product is ribavirin also known as virazole
house farm leader sees billion dlr budget cuts
under terms of the february 10 agreement oii paid 6050 dlrs per common share and 363 dlrs per 475 dlrs convertible preferred share
us housing completions fell 02 pct in january
we are confident we can service our debt and bring it down in the very near term based on strong cash flow from brunswicks expanded boat operations florjancic said
medar inc mdxr 4th qtr dec 31 loss
pope said that in volume terms nearly half of all gold eagle sales were within north america roughly 40 pct were in europe and about eight pct in asia
austrian gross domestic product growth for this year is likely to be between 05 and 15 pct helmut kramer head of the semi official institute for economic research wifo said
traders said that there have been persistent rumors today that japanese buyers are looking to pick up cargoes of brent for japan and european trade sources indidate rumors of vessels being fixed to make such shipments
the program will be aimed at end investor placement
and there is yet no evidence available to the bank to suggest that the fall in share prices has affected the stability of the financial sector the barclays share index fell a record 50475 points to 292526 on tuesday a decline of 147 pct
said it had been given options by a number of sharp shareholders covering 67 pct of the common stock pending completion of a review of the company
the purchase was made for an undisclosed amount of cast
note the company said the consolidated net loss was after costs and provisions for restructuring of 390 billion francs which includes exceptional items arising from the planned sale of its stake in american motors corp amo to chrysler corp c full company name is regie nationale des usines renault
its a win win situation said one analyst
treasurys mulford backs debt conversions
under reforms introduced in the late 1970s farmers sign contracts with the state requiring them to grow certain crops but they have considerable freedom in how to use their land
a senior official at one of four prospective banks said the ministry told his bank it would give approval as long as the parent firm holds no more than 50 pct of the capital
the most significant factor for the lack of a distribution this month is the establishment of additional special cost escrow accounts the company said adding that there may be no cash distribution in other months or during the remainder of the year
the pact will enter into force definitively when governments accounting for 80 pct of world exports and 80 pct of world imports have ratified it
rockwell international corp continues to expect significant improvement in 1987 results despite the somewhate disappointing performance of one of its business segments president donald beall told 
consolidated natural gas co said it has received securities and exchange commission approval to establish a wholly owned natural gas marketing subsidiary called cng trading co
in addition broken hill associated smelters port pirie south australia smelter is halting production for five weeks for maintenance
a shareholder group consisting of foreign investment firms and investors said it raised its stake in scandinavia fund inc to 2607900 shares or 400 pct of the total outstanding from 2309700 shares or 354 pct
irts shares closed last night on the new york stock exchange at 19 7 8
the refinery started up in 1967 and has an annual capacity of 47 mln tonnes
several firms were expected to cut back drastically on the list of frns traded with most volatile paper first to go
he added the meeting could be postponed
salomon issues 228 mln dlr floating rate cmo
however one or two traders expressed surprise that the authorities had issued further bonds of any kind in the light of the nervous conditions prevailing in the market
madagascar cocoa production estimated higher
soviet winter crops did not get off to a good start because of a dry autumn last year and because of the severe winter they probably have had more damage due to winter weather than normal mcminimy said
morse shoe inc mrs 4th qtr net
the gillette board of directors has a regularly scheduled meeting this afternoon and gillette said it anticipates making a statement after that meeting
the bundesbank sees no current reason to change monetary course vice president helmut schlesinger told in a telephone interview
the austrian national bank did not intervene on the foreign exchange markets today to support the dollar deputy banking department chief herbert danzinger told 
fitchburg gas fge raises quarterly
force majeure lifted at cajamarquilla
french 13 week t bill average rate falls to 737 pct from 769 pct official
boosting the amount of us grain which must be shipped each year under a food aid program called section 416 to 800000 tonnes from 500000 tonnes now
elders chairman john elliott said in a statement when the offer for the ordinary shares closed on april 23 that acceptances representing over 93 pct of outstanding shares had been received
api president sees options to avert oil crisis
sheikh ali denied that kuwait was over producing
it said the new notes will rank senior to the companys existing 14 1 2 pct senior subordinated debentures of 2001 and 15 1 2 pct discount debentures due 2004
shr 87 cts vs 62 cts net 2604000 vs 1856000 sales 727 mln vs 646 mln nine mths shr 271 dlrs vs 197 dlrs net 8121000 vs 5834000 sales 2157 mln vs 1930 mln
other financing for the project will come from sri lanka 71 mln dlrs and west germany 800000 dlrs the ida credit is interest free and for 50 years
equitable of iowa cos eqica 4th qtr net
etl is the third group to become involved in a possible acquisition of monier this year
prudential corporation plc which earlier announced a 62 pct rise in 1986 pre tax profits said it had recorded its best general insurance result for six years but had not reached satisfactory levels of profit in other areas
the offer had been scheduled to expire at midnight october 21
nivison said irts debt to equity ratio currently is less than one to one
he said there are no law enforcement officials involved at this time
in all a 1842 mln stg charge was made against profits for 1986 compared with a 1007 mln stg charge in 1985
coffee export revenue for 1986 was 233 billion dlrs according to the bank
visible stocks of 17 oils and fats are probably peaking now and are likely to fall sharply by october 1 this year the oil world newsletter said
the group told the sec it may continue to purchase additional cardis stock but also reserved the right to sell its shares in the company
we believe that with a just political solution acceptable to all sides confidence will return and this will benefit the lebanese pound and lebanon in the meantime he said the central bank had four main goals 1 to use surplus liquidity to finance the budget deficit 2 to increase the role of commercial banks and non bank financing institutions in financing the deficit 3 to limit the transfer of lebanese pounds into foreign currency deposits 4 to protect the financial health of commercial banks
the company said the balance of cash in the trust will be used to satisfy all liabilities and obligations of the trust
congressional sources believe a secondary market available to both private lenders and the farm credit system with the system as agent could be included in a major federal government rescue package for the system to be drafted by congress later this year
ef hutton group efh rose 1 1 4 to 41 1 8 and painewebber group pwj climbed 7 8 to 37 3 4
foreign firms hope to join japan telecom company
shr 445 dlrs vs 344 dlrs shr diluted 430 dlrs vs 334 dlrs net 4235 mln vs 3191 mln sales 334 billion vs 297 billion avg shrs 951 mln vs 926 mln note us funds
under the canadian proposal all countries would have to ensure that domestic policies and programs to address the specific needs of their farm sectors do not distort trade a government background paper said
david ericksen director of asas technical services said us soybean producers could regain about one half of the 273 mln dlrs in sales lost to imported tropical oils if consumers were aware the vegetable oils were high in saturated fat
the fed said dealing in commercial paper was related to chase manhattans regular banking activities because this kind of instrument has many of the characteristics of a traditional commercial loan because of its short term nature commercial paper is customarily held to maturity like a commercial loan the fed order said
bhps earnings in the first half ended november 30 amounted to 3970 mln dlrs sharply down from 5893 mln a year earlier
the bank of england said it had provided the money market with early assistance of 689 mln stg in response to an early round of bill offers from the discount houses
it raised the preferred stock to aa minus from a plus and preference stock to a plus from a and affirmed iowa illinois aa senior debt aa minus subordinated debt and a 1 plus commercial paper
it said the downward revisions in both proved reserves and estimated future net revenues resulted from decreased prices for oil and gas
sapporo breweries plans 100 mln swiss franc notes
unicorp american uac acquisition advances
china province becomes grain importer
one or two large west german banks effectively drained the domestic money market of liquidity at the end of the month in order to achieve higher rates from their overnight deposits money dealers said
heyman two years ago attempted an unsuccessful takeover of union carbide corp but gaf benefited from that companys restructuring
the february trade surplus was well up on the 684 billion mark surplus posted in the same month of 1986
the philippines and the world bank have signed a 300 mln dlr loan and 10 mln dlr worth of technical assistance to help manila in its economic recovery efforts bank officials said the loan to be disbursed in three equal tranches is repayable over 20 years including a five year grace period with a variable interest rate currently at 792 pct
valley resources vr sets stock split ups payout
malaysia raised output this month to current levels from 420000 bpd after reviewing the world oil market
fiji makes sugar payment to get harvest started
mexico signs 100 mln dlr iadb tourism loan
he said the rest of the 178500 bpd refinery including the 19000 bpd catalytic cracker was undamaged
uk one billion stg bond tranche exhausted
slow growth of exports and a tight rein on state spending has lowered estimated gdp growth to three pct in 1987 from an earlier forecast 35 pct
easco offers initial sale of securities
in queensland tmoc has extensive interests in the surat basin including the 100 pct owned and operated moonie oil field and 33 pct of the boxleigh gas field
keidanren chairman eishiro saito said the dollars fall below 150 yen would create huge unemployment and bankruptcies that could shake the foundation of the japanese economy
i think they wanted a way out
effective march 19 the new prices are 03 pct sulphur 2250 dlrs up one dlr 05 pct sulphur 2175 dlrs up 175 dlrs 07 pct sulphur 21 dlrs up 125 dlrs
nfs financial corp said its board declared an initial dividend of five cts per share payable april 21 to holders of record march 31
however loans for financing hong kongs visible trade fell 13 pct to 3623 billion dlrs after a 34 pct rise in the previous month
amour inc said it has entered into a letter of intent to acquire bard international associates inc for 70 mln common shares in a transaction that would give former bard shareholders control of the combined company
the us imposed 100 pct import duties on personal computers colour televisions and power tools alleging that japan had violated last septembers bilateral agreement by selling computer chips at below fair market value
american express axp to discuss shearson deal
banks in the consortium are bank of tokyo international ltd industrial bank of japan ltd the long term credit bank of japan dai ichi mutual life insurance co sumitomo bank ltd mitsubishi bank ltd sanwa bank and yashouda bank and trust corp the bank of greece said
the state bank of south australia is issuing a novel 50 mln australian dlr eurobond due april 8 1992 paying an initial coupon of 16 1 4 pct and priced at 101 pct lead manager swiss bank corp international said
said
uk sugar factory closes due to shortage of beet
there will be a 125 basis point commitment fee on the revolving credit
specifically the probe is examining the acquisition and subsequent sale of more than five pct of the stock of certain unspecified companies he said
we dont look at this as indication that the economy is barrelling along the number is not really that problematic for those of us who are constructive on the bond market agreed elliot platt of donaldsen lufkin and jenrette securities corp
madagascars available coffee output is estimated at 80725 tonnes this year down from 82210 in 1986 due to a rundown of government agricultural services and the poor state of feeder roads in rural areas agriculture ministry sources said
growers had also called for the full 1987 forecast price of 2350 dlrs per tonne of cane to be paid in cash on delivery to the mill but this has been rejected by the state controlled fiji sugar corp ganilau said
ford motor credit cos 200 mln marks of 5 3 4 pct eurobonds due 1992 were assigned an a1 rating
there will be a facility fee of 75 basis points on the available part of the facility and a fee of five basis points on the reserved part
the sec investigation began just months before allegheny became the target of a series of shareholder lawsuits claiming that the company had violated the federal securities laws by failing to disclose material matters in recent annual proxy statements
stoltenberg said the louvre agreement was working despite a slight firming of the yen against the dollar
the bank of england said it has operated in the money market this morning purchasing 170 mln stg bank bills
a group of firms led by hong kong based industrial equity pacific ltd said it increased its stake in smith international inc common stock to 3997100 shares or 175 pct of the total outstanding from about 149 pct
he said he had been in almost daily telephone contact with president corazon aquino particularly when the banks began to take a very tough stance on pricing
concurrent with the move from its current site a few blocks away the trading hours of the midams treasury bond futures contract will expand to between 0720 and 1515 local time from 0800 to 1415 currently
dutch planning agency forecasts lower growth
hearst buys houston chronicle for 400 mln dlrs
quaker state ksf arranges 100 mln dlr credit
in the same year ago period goodyear reported a loss of 59 cents a share from continuing operations
he expects the sale to raise three billion francs they added
nomura international finance issues eurobond
shr eight cts vs six cts net 22 mln vs 18 mln revs 994 mln vs 910 mln nine mths shr 19 cts vs 20 cts net 55 mln vs 54 mln revs 29 billion vs 27 billion note 1987 3rd qtr and nine mths include pre tax gains of from antitrust settlement of 2000000 dlrs and 6000000 dlrs respectively
taylor said loans to the energy sector continue to substantially hurt earnings while profitability of the banks international operations remains weak reflecting resource related difficulties of private and public sector borrowers and unsatisfactory results from capital market activities
we are considering selling the group nelson said
first eastern corp said it has completed the acquisition of peoples bank of nanticoke pa in an exchange of 11 first eastern shares for each peoples share
he urged heads of government departments and public institutions to help the government rationalise expenditure
the country has declared an interest payments moratorium on 68 billion dlrs of its 108 billion dlr foreign debt and frozen some 15 billion dlrs in trade and interbank deposits by commercial bank creditors at brazilian institutions
uspci inc upc 3rd qtr net
that included agricultural trade liberalisation for the first time in the lengthy program to re negotiate the gatt
continental cthl repurchases notes
hollinger hlgto completes unimedia takeover
the gao last week reached the tentative conclusion that the estimated three billion dlrs of certificates redeemed to date have cost the federal government between 150 mln and 600 mln dlrs or between five and 20 pct more than cash outlays one administration official said
the company could not say what percentage the increase reflects from current prices nor could it say how much per ton the products sell for currently
rospatch corp rejects offer from diagnostic retrieval systems inc
the bonus awards were made to louis dreyfus corporation and will be paid in the form of commodities from ccc stocks
tunisia is expected to tender shortly for 100000 tonnes of soft wheat for shipment between april and june covered by coface export credits trade sources said
first city bancorporations sale of 54 mln dlrs in oil loans to prudential bache should significantly reduce its energy problems but the banks losses are still virtually guaranteed to continue analysts said
the repurchase agreement yields compare with the 40625 pct one month commercial bill discount rate today and the 450 43 pct rate on one month certificates of deposit
of course they are less profitable than other variable rate mortgages said a spokesman for midland bank plc which earlier this year said it earmarked 500 mln dlrs for fixed rate new mortgage loans
the kittiwake field originally part of the 25 billion stg gannet project abandoned last year when the oil price fell is now estimated to cost around 350 mln stg
reagan said in announcing the sanctions today that i regret that these actions are necessary but that the health and vitality of the us semiconductor industry was essential to american competitiveness in world markets
potential future increases in the replacement cost would be calculated using credit conversion factors based on statistical analyses by the staffs of the bank of england and us banking regulators
it said the soviet union trailed the us by seven to 12 years in advanced manufacturing technologies such as computers and microprocessors
exxon xon cuts heating oil barge price
he also said monier will not now proceed with the one for two bonus issue announced with its interim results on march 19 in view of the proposed takeover bids
the products include fruit juices purees and pulp some tomato products peanuts prepared beef products and beans
knox said in an interview with the local daily la nacion yesterday that argentinas current economic policies contained key elements to stimulate growth and the world bank was very interested in financing its growth
payment date is april 23
shr two cts vs six cts net 43295 vs 147724 revs 3787507 vs 4000019
shr 57 cts vs 54 cts net 393 mln vs 373 mln sales 5409 mln vs 4885 mln nine mths shr 230 dlrs vs 158 dlrs net 1588 mln vs 1087 mln sales 167 billion vs 160 billion
analysts said the merger would dilute the holdings of current computer associates shareholders by about 10 pct
feldstein one of four members of a task force on third world debt said that brazils request would mean an additional credit of three billion to four billion dlrs from banks and international agencies
there will be no calls before march 31 1992 unless the share price reaches at least 150 pct of the conversion price
the closed end investment company approved payment of 45 cts on april 10 record march 31 of five cts payable may 11 record april 30 and of 55 cts payable june 10 record may 29
the european community ec accused the united states of violating a political commitment to free trade through practices including a tax on imported gasoline and a customs user fee
minorities 800000 stg vs same
northern has annual revenues of about 60 mln dlrs and is based in seattle
kidder peabody analyst herbert buchbinder expects blocks fiscal 1987 year to end april 30 to show good gains over fiscal 1986 earnings of 601 mln dlrs or 241 dlrs a share on revenues of 6067 mln dlrs
the new ruling will make it easier for calls to be made from remote regions
sumita welcomes us japan agreement on louvre
cpc said although the extent cannot yet be determined the company expects that 1987 earnings per share will increase by substantially more than the previously estimated 20 pct increase over 1986 in 1986 cpc earned 230 dlrs per share
icahn controlled trans world airlines inc twa made a conditional offer to acquire usair for 52 dlrs per share a bid that was rejected by the usair board
the debentures were priced at 9954 pct to yield 917 pct
central bankers satisfied with paris accord
federal reserve board chairman paul volcker said a restrictive monetary policy would be damaging to investment and that a better course would be to restrain spending
in the current round the countrys most powerful union the ig metall representing metalworkers and engineers is demanding a shortening of the working week to 35 hours from the present 38 1 2 and an accompanying five pct increase in wages
some 10 pct of that area which gives low yields could be switched to more profitable crops such as oilseeds
the company appears to have positioned its steel segment for a return to profit by late 1987 moodys added
a new international natural rubber agreement inra was formally adopted by a united nations conference today
first union func files 100 mln dlr notes issue
the group said it has held talks with the hutton lbo group before and may do so again
we have the impression it may be difficult to get even two per cent growth this year the big question is whether the governments policy of wage moderation will be maintained he added
the commonwealths move reverses an increase from 175 pct in early february
the proposed offer would be condition upon ainimum number of shares being tendered gordon said
last year one of our biggest problems was we were buying products in japanese yen
sales of todays issue were slowed by the decline in american credit markets and rising oil prices which stirred concerns about inflation the traders said
indonesias debt totals 37 billion dlrs
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
spot market prices slipped some two dlrs in february but have firmed in the past two weeks to near opec levels as traders gained confidence in opec price and output discipline
the bank earlier reported second quarter profit fell to 1162 mln dlrs from 1251 mln dlrs a year ago
the depressed economy forms the main backdrop to general elections next month in indonesia a major producer of rubber palm oil tin timber and coffee
cargill official defends certificate programs
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
the federal trade commission said its staff has urged the governor of georgia to veto a bill that would prohibit petroleum refiners from owning and operating retail gasoline stations
duff phelps changes baker bko hughes ht debt
nova nvaato not planning dome dmp bid
the accord reached there means stability in the oil market and we shall continue making our contribution the cuts originally brought in from february 1 would probably be officially approved on july 10 by parliament helle said
according to figures from swiss bank corp total note issues by foreign borrowers reached 186 billion swiss francs last year compared with 236 billion francs borrowed in the form of public bonds
the 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
but it said the proximity of the discovery to existing production facilities at the gidgealpa south field would allow mawson one to be brought into production rapidly
harvest of late type valencia oranges is increasing rapidly with the near completion of the early and midseason varieties
danish reserves rise in february
china formally applied to join gatt in july 1986 and in february presented a memorandum backing its application which de clercq said was now being studied
the accord came after months of transatlantic argument with tokyo and bonn claiming washingtons policy of talking the dollar lower had made life impossible for west german and japanese exporters
the bank of england said it provided the market with a further 442 mln stg assistance during the morning to offset a liquidity shortage it estimated at 160 billion stg revised up from 155 billion the bank bought outright eight mln stg of band one treasury bills and five mln stg of band one bank bills at 10 3 8 pct
allwaste which preforms air moving and related services said it will swap shares of its common valued at 26 mln dlrs with the company it is acquiring
in a letter to shareholders chairman a
bt asia ltd is junior co manager with a two mln dlr commitment
each bond of 1000 francs nominal and six pct interest will carry three a warrants and three b warrants giving the right to subscribe to bull shares
adams express co adx sets regular payout
dealers said that demand had been seen for the tap from both domestic and overseas sources including from japan and the us although the issue had not been designated as free of tax to residents abroad fotra widespread bullish sentiment for the market in general had generated foreign buying
italian economic outlook less bright oecd says
suffields ssbk coastal csbk buy cleared
topping 1563 1610 1430 cracking 1842 1910 1686 the mediterranean region also showed netback values rising last friday over the previous week with the largest gains shown by es sider and the heavier urals crude oil which were each up 22 cts a barrel last friday to 1940 dlrs and 1916 dlrs a barrel respectively
the company has slashed its workforce to 47000 from 86000 in 1976
auditors lift qualification on ps indiana pin 
indonesia has increased its share in a 434 billion yen aluminium smelter joint venture with japan from 25 to 37 pct asahan project authority director ar suhud said
krupp who has a 244 pct stake in kappa said he and kappa management believe a kappa radiation systems combination would be good for both companies
in january and february the airline said total systemwide revenue passenger miles were up five pct and 11 pct respectively over the same months last year
a brazilian delegation led by central bank president francisco gros will meet brazils bank advisory committee here on april 10 said citibanks william rhodes as chairman of the 14 bank committee
biogen bgenf may sell european operations
discussions with nbc on the merger of the two companies radio units were suspended in december
the financial rand widely viewed as a direct reflection of foreign investor confidence in south africa appears headed above 30 us cents dealers and bank economists said
its an incentive to use the card and it potentially builds traffic for the carrier said one analyst who asked not to be named
it had profits in 1984 and 1983 but a loss 1712 mln in 1982
genzyme corp genz 4th qtr net
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
it predicts that ec steel production will fall to 109 mln tonnes in 2000 from 1357 mln in 1985 with japanese production falling to 92 mln from 1053 mln
it had required the first two limited sugar deliveries to make such moves for three consecutive sessions
robertson said his group has spent a total of 59 mln dlrs on its investment in the company so far
total maize area planted for the 1986 87 harvest was estimated at between 358 and 378 mln hectares or two to seven pct less than the 385 mln hectares planted in the 1985 86 harvest
faced with growing congressional protectionist pressure the us administration is pressing japan for speedy action to reduce its still huge trade surplus us officials said
following announcement of the merger agreement the company was informed by the enforcement division of the sec that it intends to seek authority from the commission to institute a proceeding against the company allegheny said
there is no question in the mind of the department of agriculture that these certificates have been very useful amstutz said
the m 1 increase was surprisingly modest and i suspect we are on our way to another moderate set of m 2 and m 3 figures for march said salomons di clemente
gordex said the expansion of the cape spencer facilities is intended to enable operation 24 hours a day throughout the year
the non callable bond is available in denominations of one mln yen and is guaranteed by france
for the full year hartford said it earned 329 mln dlrs up from 1514 mln dlrs in 1985
hazelhoff said abn was unlikely to continue reducing risk provisions in the future but he noted the bank was not overly concerned about default by latin american debtors a factor which brokers say has distanced dutch insititutions from bank stocks recently
sumita also said he did not see the recent dollar drop as anything like a free fall
shr 45 cts vs 58 cts net 11 mln vs 829000 sales 79 mln vs 94 mln avg shrs 2332397 vs 1428000 year shr 122 dlrs vs 106 dlrs net 29 mln vs 15 mln sales 257 mln vs 222 mln avg shrs 2332397 vs 1428000
petroleum futures posted a modest rally on the new york mercantile exchange
but they also pointed out that money supply is broadly back on target giving scope for a small fall in rates
nova subsidiary raises us polyethylene prices
wilhelm christians joint chief executive of west germanys largest bank deutsche bank said that following recent meetings with baker he believed that the us was still committed to the accord
henze which is engaged in performing nuclear plant repair work had revenues of 127 mln dlrs for the year ended december 31 1986
our foreign debt is high but we can pay and i hope the foreign banking community will maintain its position toward us he said
thermo electron corp said it filed with the securities and exchange commission a registration statement covering a 75 mln dlr issue of convertible subordinated debentures due 2012
the next tender for aug sept oct shipment was set for june 24 the spokesman said
the bremen green coffee market attracted good buying interest for colombian coffee last week while brazils were almost neglected trade sources said
this business changes with the construction cycle and so increases gypsums cash flow vulnerability moodys said
production originally estimated at 15 mln tonnes a year will be 12 mln initially and is expected to begin in early 1990
the murray ohio manufacturing co said it expects first quarter earnings to be higher than the 4800840 dlrs or 125 dlrs per share it recorded for the first quarter of last year
conable who has just completed his first year as head of the world bank said the banks mission remains the development of third world nations
it is believed to be the largest ever issue denominated in australian dlrs
us forces destroyed oil rig raided another
raven industries inc rav 4th qtr jan 31 net
the company said the sale which will be explained in greater detail after the definitive agreement has been signed is part of footes previously announced plan to sell the entire company
the search continued for a cargo of poisonous chemical substances loaded on the herald of free enterprise ferry which capsized in zeebrugge harbour friday
lisle ill based amphenol had 1986 sales of about 500 mln dlrs
note company paid total 37 cents in previously declared quarterly divs vs 15
vbi corp a british west indies investment firm told the securities and exchange commission it raised its stake in france fund inc to 1075700 shares or 143 pct of the total from 896500 shares or 119 pct
masao suzaki senior economist at the bank of tokyo said weakened consumer confidence was the most worrying factor
mdc asset investors mir in initial payout
sumita says little room for bank of japan to further ease credit policy
in a pact last summer japan summer agreed to stop dumping its semiconductors at less than cost in the united states and other nations and to open its own market to the us products
it was really an enormous drop a reduction in rates and that to me is the critical element he told 
other delegates said there was more open talking at the ico and at least differences were not hidden by a bad compromise
lower money market rates achieved by widening short and long term interest rate differentials also encouraged investors to re invest funds parked in liquid accounts mueller said
west germany and sierra leone signed an agreement to reschedule 26 mln marks of principal and interest payments on loans the west german foreign ministry said
qtly div 36 cts vs 33 cts prior pay may one record april 14
prebble said air new zealand was successful but its ability to prosper in future was hampered by its wholly government owned status
vms strategic land trust declared an initial dividend of 30 cts a share payable may 15 to shareholders of record april 20
ec ministers bid to save dairy accord
amoskeag co amos sets quarterly
thailand exported 18367 tonnes in 1986 up from 17359 in 1985 pramual said
net 1909 mln swiss francs vs 1504 mln turnover 524 billion vs 538 billion dividend 160 per bearer vs 155 francs 32 francs per registered vs 31 francs 16 francs per participation certificate vs 1550 francs cash flow 2943 mln vs 2426 mln note confirms forecast of results issued in january
berger also said that a further devalued dollar may cause economic depressions in some us trading partners and that would not be in americas interest because it would close those markets to us goods
jaguar hedges a majority of its dollar receipts on a 12 month rolling basis and plans to do so for a larger part of its receipts for longer periods john egan said
charles haughey leader of the irish party fianna fail said if he becomes prime minister following last months irish general election he will seek the advice of the ec commission on management of the countrys 24 billion punt foreign debt
us urges restraint in aegean
the customs department said thailand exported 21404 tonnes of coffee last year up from 20602 in 1985
about 300 people were present despite an overnight snowstorm
under terms of the affiliation each first tuskaloosa shareholder will receive 66 dlrs value of amsouth stock for each share held
farmers who had expected a near record wheat crop now say this year will see one of the largest losses in decades
venezuela gets 300 mln dlrs credit for aluminum
the yugoslav power industry yesterday floated its second issue of domestic bonds in three months after an experimental issue in january official sources said
kiena two for one share split approved
bradley brly announces long term lease
rowe price associates said its first quarter earnings rose about 50 pct from the year ago 2634000 dlrs and revenues about 30 pct from the year ago 242 mln dlrs
western diplomats said iran which washington has accused of being behind state sponsored terrorism had no demonstrable capacity to carry out attacks in the us itself
towle manufacturing co qtow 4th qtr oper loss
uk money market given help offered facilities
the dollar will fall more but the current account deficit will stop being reduced when it reaches its structural core he said
qtly div five cts vs five cts prior pay june two record april 27
indonesia both individually and together with other members of the association of south east asian nations asean has protested against the ec plan to increase duties on vegetable oil imports he told indonesian reporters
it said positive gdp growth of three pct might be restored the current external deficit could fall to some 4 1 2 pct of gdp by the first half of next year while inflation was projected to decelerate to around five to 5 1 2 pct by mid 1988
morgan grenfell group plc offers fund
the action increases moroccos cumulative fiscal year 1987 program for wheat under gsm 103 to 750 mln dlrs
the average price for the six months bills was 97068
frank guarini d nj however the failure of the ico talks in london to reach agreement on export quotas means the us legislation is not immediately needed one analyst said
j bildner and sons inc jbilo 1st qtr
fed may supply reserves in the money markets
these purchasers would also be given access to sgls books and records and the opportunity to talk with key employees
two affiliated investment firms and the investment funds they control said they raised their combined stake in ldbrinkman corp to 653600 shares or 109 pct of the total outstanding from 585600 shares or 97 pct
the companys shares are traded in the us as american depository receipts which were issued through an offering by morgan stanley group inc ms earlier this month
official sources said the bank frances sixth largest in terms of its deposits and seventh in terms of its assets planned a share split to increase the number of shares on offer ahead of the sale of 40 pct of its ordinary share capital to the public of 10 pct to staff and 20 pct abroad
shr 416 cents vs 2880 final div nil vs 105 cents making six for year vs 165 pre tax profit 268 mln dlrs vs 10771 mln net 927 mln vs 6320 mln turnover 547 billion vs 483 billion other income 6533 mln vs 5168 mln shrs 22294 mln vs 21954 mln
belgian inflation could stabilise at 15 to 20 pct while the current account surplus will probably remain large at about three pct of gdp
the nuclear power plant located near waynesboro ga is co owned by oglethorpe power corp the municipal electric authority of georgia and the city of dalton
huges tool company says baker international merger plan not terminated
colombia which held stockpiles of 105 mln bags at the start of the current coffee year exported a record 115 mln bags in the 1985 86 coffee year ending last september 30
volcker understands what motivates people outside the us that was in his gut
share adjusted for 10 pct stock dividend in february 1987
baker also told the policy making group that it was time for the imf to adopt earlier recommendations making imf surveillance more relevant to national policymakers and the public
shr loss 52 cts vs profit six cts net loss 2943000 vs profit 334000 revs 335 mln vs 185 mln year shr loss 157 dlrs vs profit 16 cts net loss 8781000 vs profit 792000 revs 1160 mln vs 565 mln
the diplomat said domestic demand was rising by about five pct a year but a communist government is in a much better position to regulate demand than a capitalist one if the foreign exchange situation demands it
kenner parker toys inc kpt 3rd qtr oper
tw services inc tw 3rd qtr net
the world bank approved a 100 mln dlr 20 year loan to help modernise the machine tool industry in shanghai the new china news agency said
the statement said holders of commerzbank participation certificates in a total nominal value of 425 mln marks would receive the remaining 414 mln marks of the distributable profit
qtly div 72 cts vs 70 cts prior payable june 10 record may 15
frank b
the uk offshore oil industry has suffered from last years collapse in oil prices but should not sustain any permament damage minister of state for energy alick buchanan smith said
yulo said three major philippine distilleries were ready to start manufacturing ethanol if the project was approved
dresser industries inc said it expects the joint ventures it has entered into and a gradual improvement in the energy market to allow it to regain profitability before the end of the current year
the labour leader who now heads the inter union national workers command cnt was among 500 workers sacked by codelco following a strike in 1983
the bank of japan has cut its discount rate five times over the last year and a half
cyclops corp said the three members of its board appointed last week by dixons group plc had resigned and that it named three cyclops executives to replace them
conti shares open higher on good new tyre reviews
ef hutton group inc said it has started its previously announced offer to purchase up to 6332471 common shares of purolator courier corp at 35 dlrs each
servicemaster svm sets quarter distribution
the south african governments maize production estimate of 78 mln tonnes for the current year is rather too conservative leading grain and produce merchants kahn and kahn pty ltd said
as a result of the tender now owns about 49 pct of instinet shares
although industrial sales were up the companys yearend report said total sales were 8409 billion crowns against 1985s 8619 billion
shr 1835p vs 1495p div 375p vs 29p making 475p vs 375p pretax profit 665 mln stg vs 469 mln tax 146 mln stg vs 45 mln net profit 519 mln stg vs 424 mln turnover 144 billion stg vs 158 billion note full name of company is george wimpey plc wmpyl operating profit before exceptional items 889 mln stg vs 805 mln exceptional debits 30 mln stg vs 116 mln operating profit 859 mln stg vs 689 mln share of profits less losses of associated companies 14 mln stg vs 24 mln loss interest net payable 208 mln stg vs 196 mln attributable minority profits debits 02 mln stg vs 03 mln extraordinary items debit 34 mln stg vs 43 mln credit net borrowings 1951 mln stg vs 1935 mln
the slowdown in orders has been caused by the strong yen and a protracted worldwide shipbuilding slump
us house panel approves aid for fslic
the previous weeks m 1 level was revised to 7390 billion dlrs from 7387 billion while the four week moving average of m 1 rose to 7391 billion dlrs from 7383 billion
if the union walks out it would mean simultaneous strikes against all three major us television networks
april heating oil ended 124 cts higher to 5165 cts a gallon while april crude settled 28 cts higher at 1864 dlrs
facilities being installed to protect the field include aircraft detection equipment anti aircraft missiles housing for military personnel and helicopter landing pads the sources said
interest will be payable over the next five years in half yearly instalments on february 28 and august 31
the decline in february compared with january reflected seasonal factors it added
analysts say uk budget points to base rate cuts
sugar market sees good recent offtake
circle express inc said negotiations on its proposed acquisitions of overland express inc and privately held continental training services inc have been terminated by mutual agreement
just after royal dutch rd they are seen as one of the highest grade refiners in europe he added
canada zero issues canadian dlr zero coupon bond
the agency said this flat trend is explained by the projected seasonal consumption decline in the second quarter of the year which offset a reduction in stocks
us export inspections in thous bushels soybeans 18616 wheat 16760 corn 25193
following the west german interest rate cuts on january 22 the dutch central bank did not lower its rates but set a 05 pct lower tariff for special advances and abandoned its credit surcharge
the company said the device will be sold under the name companion heart monitor
the close relationship between nakasone and president reagan was an important element of nakasones power base waseda university political science professor mitsuru uchida told 
sumitomo trust and banking co ltd is offering 100 mln dlrs of certificate of deposit notes due 1992 yielding 728 pct said sole manager shearson lehman brothers inc
peruvian president alan garcia said his government was not trying to convince other nations to follow its decision to limit foreign debt repayments
regular trading hours for the contract will be from 0900 to 1305 central time
an unspecified number of people had fallen into the water it said quoting the pilot organisation in this south western dutch port city near the belgian border
robin marshall chief economist at chase manhattan securities said there is another half point to come in the near term this week or next week at the latest we see a whole point off base rates in the next two or three weeks analysts stressed that apart from prestige britain had very little to gain from a sharp rise in sterlings exchange rate
latest year net includes gain 418000 dlrs for first nine months from change in pension accounting for which results of first three periods restated
dotronix said video monitors sales for the fiscal year ended april 30 1986 were 76 mln dlrs
but we dont know when they might do it an ohio dealer said which has created uncertainty in the market
one month rates were at the same level after trade at eight then 8 1 2
norcros ncrol plc said it has no intention of proceeding any further with talks on williams holdings plcs suggestion that there would be benefits arising from a merger between the two groups
a spokesman for privately held interconnect said it made the new proposal to gates learjets board but would not say if it had held talks with the parent companys board
westpac banking corp in new zealand said it will increase its indicator lending rate by 15 percentage points to 225 pct from april 7
processors are competing vigorously with river dealers for the few soybeans being offered by country elevators with a decatur illinois processor raising its spot soybean basis bid another two cents today to 10 over july futures
this gave a year on year march inflation rate of 98 pct against 95 pct in february and 122 pct in march 1986
mhi is now heading up five japanese companies seeking to develop the countrys own fighter plane to replace the currently used f 1 support fighters in the late 1990s
company said it believes any refunds it may have to make would not materially affect its financial position
bp said it is asking standard oil for the use of its shareholder list in disseminating the offer on which the standard board has not yet taken a position
keiaisha issuing 12 mln swiss franc notes
a full bond tender program for the year has not yet been announced
the survey also showed that 23 pct of the polled companies consider current order books to be above normal while 58 pct view them as normal and only 19 pct regard them as below normal
out of this traders in west germany received 34750 tonnes in the uk 13000 in denmark 7250 and in france 4000 tonnes it added
lead managers are being recruited at the 200 mln dlr level co lead managers at 125 mln and managers at 75 mln
many dealers are experimenting with owning several franchises some of which might compete against each other
it said its representatives will be attending pennsylvania enterprises annual meeting tomorrow in wilkes barre pa
the bonds guaranteed by bank of tokyo ltd will be issued in denominations of 5000 dlrs and will be listed in luxembourg
the total area planted with soybeans for this harvest was a record 37 to 38 mln hectares and increased 108 to 138 pct compared to the 33 mln hectares planted last year
distillate fuel stocks held in primary storage fell by 44 mln barrels in the week ended feb 27 to 12710 mln barrels from 13150 mln the previous week the american petroleum institute api said
proposed dividend per share 550 guilders vs 500 note full company name is koninklijke nederlandse papierfabrieken nv
if the reports are confirmed chinas major export destinations such as ussr japan and south korea could increase purchases of us corn it said
the liberalisation in both imports and foreign exchange controls will not only help our trading partners but also help our own economic problems he said
some analysts and industry leaders have questioned central bank policy of pegging the guilder firmly to the mark and if necessary keeping interest rates up to support the guilder
in 1987 foreign economic growth is expected to remain close to 26 pct the same as in 1986 but above the 24 pct average of 1980 86 it said
japans trade surplus 927 billion dlrs last year has poured into share and bond markets around the world and funded a good chunk of the huge us budget deficit
private exporters concluded advance weekly sales for 106640 tonnes against 98152 the previous week
india oilseed output forecast to rise
several tentative signing dates had to be scrapped and even now five months after the loan was agreed with a 13 bank advisory committee on october 16 dozens of mexicos some 400 creditor banks worldwide are still refusing to participate
burdensome supplies have pressed the market down from 130 dlr a pound in february when the organizations discussions aimed at re establishing export quotas broke down
brazil to buy 30000 bpd of kuwaiti oil
cayuga savings bank cayb 1st qtr net
commonwealth mortgage co said it purchased westfiar funding corp of armonk ny for an undisclosed amount of cash
in addition the company said georgia powers contracts with the joint owners require the utility to buy back significant amounts of vogtle capacity during the plants initial years of operation
spreads against the mark remained around 10 basis points with some banks quoting only five point spreads
the company also said the two q blocks immediately offset other offshore blocks on which hydrocarbons have been found in commercial quantities
baker hughes bhi us rig count falls to 758
cook also said it began preliminary talks with private investors looking to buy a stock position in order to provide cook with additional cash and assist its posture in its negotation with its banks
the four who make up the economic policy council are expected to consider evidence presented by us chip maker micron technology inc dramo of cut price japanese sales in hong kong
by departing last sunday from the language of the paris accord that nations agreed to foster currency stability around current levels baker triggered a run on the dollar
widdrington said labatts strategy for us expansion stemmed partly from its strong market position in the canadian food and beverage industry
he said aseans looming trade problems would not necessarily stem from protectionist legislation now being contemplated by congress but simply because of the adjustments the us economy will have to make in order to service our large and growing external debt shultz said the us deficit had resulted not from falling exports but from higher imports that had fuelled world growth
there the producers expressed their political will to negotiate basic quotas particularly in the face of the damaging drop in coffee prices after the council failed to agree quotas montes said
westworld community healthcare inc said it is extending by ten days to march 27 its exchange offers for subordinated notes and debentures
the gelch group said it bought the stake for about 935000 dlrs for investment purposes only
for the first half of fiscal 1987 it reported a profit of 42000 dlrs or two cts a share compared to a year earlier loss of 294000 dlrs or 17 cts a share
in a filing with the securities and exchange commission industrial equity which is principally owned by brierley investments ltd a publicly held new zealand company said it bought 362700 wrather common shares between feb 13 and 24 for 66 mln dlrs
pdvsa had available liquid assets of 20 billion bolivars at the start of this year of which nine billion were in a trust fund in the central bank of venezuela bcv and placed in government bonds
currently import licences are required only for carbon or raw steel which makes up less than half the steel market
wall street stocks ich corp ich 
the new bonds bear interest rates ranging from five to 525 pct and will be sold to the public he said
japan will lend 2717 billion yen to indonesia and will share equally with the world bank a 725 billion yen loan to bolivia as part of its efforts to help third world countries a foreign ministry spokesman said
trade in agricultural goods expanded by just one pct continuing a stagnant pattern in that sector this decade gatt said
17 1987
rent a center inc said its directors approved a three for two stock split payable april 20 record april 3
interest rate differentials too small banker says
he could have added that any proposal that might be construed as a bail out of us banks would be a non starter in congress
the bonus was made to first interstate trading co and will be paid to the exporter in the form of commodities from ccc stocks the department said
ual said it will add the offerings net proceeds to general corporate funds adding that it expects to invest the money in short term cash instruments initially
qtly div 21 cts payable april 15 record march 31
uk may adjusted unemployment falls record 64300 to 295 mln or 106 pct official
phillips petroleum co will emphasize improving its short term cash flow this year to pare its debt cj pete silas chairman told in an interview
philippines liquidity rises loan demand falls
the bank said net income of its standard bank of south africa subsidiary declined 82 pct in 1986 to 1123 mln rand in a difficult banking environment caused mainly by low credit demand
us m 1 money supply rises 500 mln dlrs in march 9 week fed says
the number of spanish registered unemployed rose by 15608 to 298 mln or 215 pct of the workforce in january in the sixth consecutive monthly increase the labour ministry said
in addition takemoto said tension over the supercomputer trade should not affect the sale as fairchild does not make supercomputers
geodyne resources inc geodo 4th qtr feb 28
in a filing with the securities and exchange commission ben shirley branch also said he bought 52025 shares of class a cumulative convertible preferred stock or 59 pct of the total for 160000 dlrs bringing his total investment in both preferred series to about 330000 dlrs
genentech convertible bond upped to 150 mln dlrs
some dealers said rates on new liquidity injections added via bundesbank securities repurchase agreements may be cut next week
the 1985 dividend was 10 pct unchanged from the previous year and schmidt chiari noted that the parent banks share capital had risen to 31 billion schillings at the end of 1986 from 27 billion a year earlier
the company said that the contingency has been fulfilled
most economists said the fed would execute three day system repurchases to meet a substantial need to add reserves in the current maintenance period although some said a more aggressive add via overnight system repos was possible
anacomps sales for the year ended sept 30 1986 were 1088 mln dlrs
the volume of zero coupon bonds and floating rate notes the most widely used financial innovations in germany stands at four billion and 16 billion marks respectively a tiny proportion of the 1000 billion marks of bonds in circulation
rainier which last month agreed to merge with security pacific corp spc said the united acquisition will increase its assets to 98 billion dlrs from the 92 billion reported at the end of 1986
the senior official said the bank of japan is hoping federal reserve chairman paul volcker will be re appointed when his current term expires later this year
in addition they anticipated that considerable progress would be made in reducing the federal budget deficit
the gao is expected to point out that use of payment in kind pik certificates has helped relieve tight storage by moving grain that otherwise might not have been sold
copa urges tax on vegetable proteins
grain ships loading at portland
it said it expects more than 12000 us employees to take advantage of the retirement incentives announced last year
ariadne group unit barwon farmlands ltd confirmed it offered 38 billion pesos in cash for the 38 mln shares of philippine brewing company san miguel corp the australia based barwon 30 pct owned by new zealander bruce judges ariadne group said in a statement released in hong kong that a formal offer had been made to the philippines government which holds the shares
he said in a speech to an export import group that he was sure the united states and japan could work out their dispute over unfair japanese trade practices in semiconductor trade but i am sure the sanctions will go in before we work it out sanctions are to be imposed on april 17
kapok corp kpk cures technical defaults
the sale would be subject to compliance with the hart scott rodino antitrust improvements act and other regulatory approvals the company said
japan tankoku yields hit record low at auction
they may well succeed in securing action by governments which would be highly injurious to trading nations like japan and the uk channon said there had been substantial growth in the volume of trade between japan and britain amounting to 62 billion sterling 98 billion dlrs last year
the admission of china to gatt which is the multinational group of nations which negotiates international rules on trade would offer both potential export markets and potential competition for us industries he said
the lower production levels indicated saudi arabia the worlds largest oil exporter was insisting on getting opec official prices even at the cost of lower production the sources said
cherokee group chke 1st qtr feb 28 net
with other components of m 2 such as money market deposit accounts and small time deposits also falling the stage is set for falls in the broader aggregates too economists say
the swiss canton of st gallen is launching a 50 to 60 mln swiss franc 4 1 4 pct maximum 12 year bond at 100 1 4 pct lead manager st gallen kantonalbank said
restructuring of the downstream oil sector contributed to a profit rise to 187 mln stg in 1986 from 91 mln stg in 1985
separately west berlin state central bank president dieter hiss told journalists that the discount rate could fall below its lowest ever point of 275 pct
ecuador may be unable to export oil for up to five months due to extensive damage to a 25 mile stretch of pipeline linking jungle oilfields to the pacific port of balao
but the ministry source said that no decision has yet been reached on the matter and that an announcement would be made in due course
bank of japan buys dollars around 14630 yen dealers say
investors will pay for the bond on may 6 and the bond pays annual interest on the same day
i am confident that further improvements in our trade performance will contribute significantly to growth in 1987 he said
german yields have also risen over this period but less markedly and since late september the bundesbank has nudged up short term rates by changing the terms on its security repurchase pacts its principal instrument for steering the money market
mts also reported that it received a negligible number of caesars world shares in response to its 28 dlr per share tender offer
last year allis chalmers sold the lift truck business to ac material handling co of columbus ohio
the system calls on the agency to buy beef from trading houses and simultaneously sell it to users in one tender
june bonds closed at 100 4 32 today
sdc sydney cost review may eliminate products
the banking association said the possibility of using monetary policy to stimulate the economy should not be overestimated
i cant put another name on it said kidder peabody analyst jay freedman as vaguer rumors continued to hold up wendys stock
the survey said the trade deficit was expected to fall to 24 billion dlrs from three billion dlrs in 1985 86 because of the boost in exports
in its report on export markets for us grains the department said the sharp fall in world wheat prices has reduced the export sales revenue of the awb to levels insufficient to cover its breakeven export price estimated at around 98 dlrs per tonne
the multilaterals have been performing well the debtors have been performing well said the official
bank of spain governor mariano rubio said the central bank was worried that money supply was growing too fast reflecting excessive internal demand in the spanish economy but added that he was confident recent measures would succeed in restricting money growth
indian sugar output rises in first four months
shr 18 cts vs 39 cts net 507000 vs 762000 sales 113 mln vs 117 mln avg shrs 2789000 vs 1961000 nine mths shr 39 cts vs 90 cts net 1076000 vs 1752000 sales 329 mln vs 333 mln avg shrs 2771000 vs 1955000
klm to take 15 pct stake in air uk
without this reduction second quarter earnings would have been about 138 mln dlrs a 10 pct increase over last years profit taylor said
according to an agreement in principle between the two companies cgee alsthom could take a majority stake in the future but no time scale has been set he added
shr loss 19 cts vs profit 11 cts net loss 1140270 vs profit 590463 revs 1259164 vs 3225512 year shr loss 67 cts vs profit 10 cts net loss 4004840 vs profit 580488 revs 3184480 vs 9123041
nuclear data inc said its bank lenders agreed to extend its secured loan agreement through june 30 1987
it recorded extraordinary gains of 138 billion dlrs which mainly derived from the sale in april of a 1575 pct stake in cathay pacific airways ltd caphhkg in line with the floatation of the airline
the department said the action reduces the guarantee line authorized for sales of oilseeds to 50 mln dlrs from 200 mln dlrs and creates the new line for protein meals
gordon jewelry gor completes sale of unit
that was partly offset by a 04 pct rise in the consumer price index which measures inflation the department said
firstier financial inc frsto 3rd qtr net
corrected pegasus gold inc pgulf 4th qtr net
president kenneth kaunda said at the time that he was suspending the auction system in view of the rapid devaluation and violent fluctations of the exchange rate which had resulted
investors asked what this all meant to dec whose earnings and stock have been propelled by a strong slew of product introductions in the mid range area
coastal corp said a federal bankruptcy court will hear its request today for a restraining order to stop a two billion dlr lawsuit against it by transamerican natural gas corp transamerican which entered chapter 11 bankruptcy proceedings in 1983 to reorganise its debts filed the lawsuit to block coastal from taking control
evans said the decision not to change rrt was based more than anything on the governments desire to ensure the certainty and stability of the new regime adding that major investments have already been planned on the existing ground rules
chatwal
penney jcp sets stock split raises quarterly
shr 57 cts vs 27 cts net 1002000 vs 470000 sales 159 mln vs 120 mln note 4th qtr figures not given
based on conagras closing price of 34 dlrs today the transaction is worth about 3565 mln dlrs
he said the company acquired competitive businesses as a matter of routine and might add others in 1987 but declined to say how much the company planned to spend on them
edward madigan r ill nor sen
proven oil and gas deposits in saudi arabia increased in 1986 despite higher oil output according to the kingdoms main producing company aramco
the european communitys cereal management committee rejected all bids to export free market soft wheat at todays weekly tender traders said
moderate product stockdraws would strengthen the market slightly analysts said
an issue of about 125 mln in convertible bonds to be quoted on the luxembourg stock exchange would be offered in europe through a syndicate led by banque paribas capital markets ltd swiss bank corp international ltd and sg warburg securities bell group said in a statement
sama offers a total 19 billion riyals in 30 91 and 180 day paper to banks in bahrain each week
alan powers chief of the minerals maanagement service for the department said the delay is to have more time to study the effects of drilling noise on whale migrations
amoco said there were upward revisions in the size of its worldwide gas reserves totalling 404 billion cubic feet last year while it discovered 568 billion cubic feet and purchased 298 billion cubic feet of reserves
last week also saw widespread protests by hundreds of thousands of farmers over what they see as unfairly high interest rates charged by banks
business investment is forecast to rise four pct a year this year and next after 37 pct last year with private sector productive investment rising 49 pct in 1988 after a six pct rise this year and 55 pct in 1986
first bank minneaplois and first bank saint paul both units of first bank systems inc said they raised their reference rates to 7 3 4 pct from 7 1 2 pct
hata said protectionist pressures in the international economy are as strong as ever reflecting financial deficits payment imbalances and serious unemployment in many countries
they are guaranteed by banco di sicilia
a presidential commission that has been studying oil imports including their effect on national security is to to make its report soon the white house said
it said his appointment is effective july 2
pretax net profits 3052000 dlrs vs 4498000 dlrs in quarter and loss 572000 dlrs vs profit 2922000 dlrs in year
bangemann said the government agreeing with the majority sees no reason for the extraordinarily pessimistic estimate for exports expressed by the minority he said there was reason to believe that export demand would start to rise in the course of the year partly because of a further increase in world trade
sanivan is the largest hazardous waste management company in canada
thus the prediction that these imbalances would be reduced as a result of the major realignment of exchange rates was not borne out last year the report said
ryan said you always have to look at polaroid at its weakness
allied signal ald sells to schlumberger slb 
other singapore oil companies announced yesterday that they would revise their pump prices effective today
the trusts exposure to oil dependent regions is limited to 22 mln dlrs it said
dirigisme direction is a basic fact of the french system from school onwards
in the year ago second quarter buffton reported net income of 10 cts a share or 330000 dlrs on sales of 103 mln dlrs
government projections of output from as yet undiscovered fields range from 40000 to 130000 bpd he said
qtly div 30 cts vs 30 cts prior pay april 30 record april three
thailand expects increased overall coffee export revenue if there are no restrictions on sales to current ico members who offer higher prices than non members he said
at the start of october 1986 stocks of these oils were unusually high and represented 68 weeks of the current seasons prospective demand compared with six weeks a year ago and with 54 weeks in 1984 he said
proven probable and possible reserves at end 1986 totalled about 700 mln barrels net on an oil equivalent basis
shr loss 77 cts vs loss 149 dlrs qtly div two cts vs two cts prior net loss 3860000 vs loss 7541000 sales 2538000 vs 3648000 year shr loss 78 cts vs loss 158 dlrs net loss 3935000 vs loss 7999000 sales 105 mln vs 163 mln note dividend pay april 24 record april 10
the association of tin producing countries atpc has made efforts since the collapse of the ita to achieve higher world prices by attempting to bring all major producers under an export control umbrella but to date brazil and china two major producers remain unaffected by the atpc argument and apparently are continuing to offer material at discounts to consumers in main european trading centres dealers said
the company said over the next six months it will use its best efforts to increase its authorized capital and make a six to eight mln dlr rights offering to holders of its convertible preferred stock at 60 cts per equivalent common share with proceeds to be used to repay sums drawn from the interim line of credit and for working capital
net natural gas output averaged 976 mln cubic feet per day in 1986 down 10 pct from 1985s 1084 mln the company said
video jukeo to buy presidents shares
funaro said yesterday that us banks holding 35 pct of brazilian debt were over represented on the 14 bank advisory committee with 50 pct of the committee seats
the company which owns and operates 47 cable television systems in minnesota and wisconsin said it retained communications equity associates as its financial adviser to explore alternatives
amstutz said it is the us judgment that the long term grain agreement between the two countries calls for moscow to buy at least four mln tonnes each of wheat and corn annually at prices in effect in this country amstutz made the comments in response to a question from sen
indonesia plans to diversify its tea products by producing more ctc tea the main component of tea bags
jorge cardenas manager of the national federation and head of his nations delegation in london has blamed the intransigence of some big countries without naming them
cominco ltd said it sold its 50 pct stake in canada metal co ltd to canada metal senior management for an undisclosed sum
ropak corp said it has formed a new tokyo based subsidiary called ropak nippon ltd to market its north american products in japan
while one scenario mentioned in the tender offer document did note that the ef hutton group subsidiary may not have to keep cash in the transaction the sources said there is some risk to the firm
qtly div five cts vs na payable april two record march 20 note1986 dividend includes special two cts per share for the period beginning with the funds commencement of operations on novebmer three through december 31 1986
this condition has not been met by some of the innovations hennicke said
standard and poors said that some finance subsidiaries have formal support agreements with the parent company which obligate the parent to maintain the units net worth
us trade representative clayton yeutter said trade ministers meeting here have reached a general consensus on agricultural trade reform under the latest uruguay round of the general agreement on tariffs and trade gatt yeutter gave no precise details of the understanding but told journalists the consensus covers the principles involved in agricultural trade reform and what needs to be done to improve the global situation in agriculture
currently at least one trader in this transaction called an exchange for physical or efp must hold a futures position before entering into the transaction
it includes a 10 year grace period but has annual charges of 05 pct on the undisbursed balance and 075 pct on the disbursed balance the bank statement said
swissair reports lower profit and dividend
hawker siddeley said it set aside a provision of 77 mln dlrs for the proposed sale
a further 14 billion lire loan will be made to the internal italian airline alisarda for the purchase of one md82 and the improvement of an airport on the island of sardinia
before the rule change today the csce required two days of limit moves in the first three restricted contracts before expanding the daily trading limit
sterling drug inc sty 3rd qtr net
the years average will be around 172 dlrs a lb compared with 176 dlrs in 1986 using london metal exchange cash metal prices in dollar terms and assuming an average 1987 sterling exchange rate of 155 dlrs
john psarouthakis chairman and president of jp industries said that the company hopes to promptly negotiate an agreement with the special committee of clevites board
washington bancorporation 1st qtr net
usda details free grain stocks under loan
michael seibel bank of america vice president and regional manager said the negotiations were proceeding well
prior year net both periods includes pretax asset writedowns of 1146 mln dlrs and additions to reserves of 600 mln dlrs
he did not specify for how long the suspension of payments would last
pirelli uk international finance bv is issuing a 50 mln stg eurobond due april 9 1992 paying 10 pct and priced at 101 1 2 pct lead manager barclays de zoete wedd ltd
supplies were cut to the point where we could not run the system at anywhere near capacity he said less than half of texacos oil supplies had been in jeapordy but the cut off would have produced severe shortages by mid may
chase manhattan now will be able to underwrite commercial paper buying it for resale to institutions like banks
japans seasonally adjusted unemployment rate fell to 29 pct in february from the record 30 pct in january the governments management and coordination agency said
shr 16 cts vs 13 cts net 1538000 vs 1288000 sales 353 mln vs 295 mln nine mths shr 27 cts vs 37 cts net 2601000 vs 3586000 sales 1020 mln vs 842 mln
nationwide cellular ncel has buy option
non refundable for 10 years the issue is rated a 2 by moodys and aa by standard and poors
the debentures ratings of b 2 by moodys and b minus by s and p were left unchanged on friday
mees said the price adjustments arrived at through negotiations between the omani oil ministry and companies concerned are designed to compensate for the difference between market related prices and the official price of 1763 dlrs per barrel adopted by non opec oman since february
one port german north sea usg 10500 mt bulk ore 2500 4000 7 13 4
pan am pn sets pacific satellite stake sale
this preferred resorts said would pay a dividend based on the net cash flows from the new companys paradise island operations
ivan obolensky an analyst with the investment banking for of sterling grace and co said harper and row is one of the few remaining independent publishers with a back list of authors stretching back 200 years
the department said the bonus awarded was 10000 dlrs per tonne and was made to rahr malting co and will be paid in the form of commodities from the inventory stocks of the ccc
in the first half of the statement period ended wednesday banks held excess reserves on the first four days of the week but ran a deficit on wednesday
dorchester hugoton ltd dhulz raises payout
the accumulated trade surplus over the first two months of 1987 stands at 1204 mln dlrs against 1328 mln dlrs the previous year
last week the broadcasting supervisory board asked hachette to remove bnp from the consortium because the bank had acted as adviser to the government for the imminent privatisation of tf1
delta had maintained that the three unions having contracts with western the association of flight attendants and the teamsters as well as the air transport employees would be extinguished after today
most western economists have for years allowed for a certain padding of figures when analysing soviet statistics for industrial production
clark equipment co said it has purchased 1339000 shares of its common stock from an investor group led by arthur m
at a news conference last week he warned that latin defaults were a distinct possibility in the long run
the stock was sold to an underwriting syndicate managed by dillon read and co inc and donaldson lufkin and jenrette securities corp with the underwriters paying 383 mln dlrs and unc paying 164 mln it said
gzb said in a statement that the amount being issued between today and march 6 had been raised due to heavy demand
for sugar japans pse was 484 pct versus 279 pct in the ec and 131 pct for the us the study shows
citicorp is saying you cant scare us with threats well make your loans non performing right now berger said
however the ultimate return to satisfactory operating conditions is dependent on the successful resolution of the related problems of credit quality funding and the eventual need for substantial additional capital first city said it anticipated that certain covenants of a credit agreement with unaffiliated banks requiring most of first citys excess cash to be applied to debt repayments would be modified by the end of the first quarter in order to avoid default
co operative cobko completes acquisition
but us officials have said that while japan has stopped dumping in the us market it has not ended third country dumping nor has it opened its market to us semiconductors
audio video ava to get expenses from dixons
that rate has remained in force just holding above the five pct official secured loans rate which governs commercial bank borrowings
on october 7 1986 the credit unit sold 200 mln dlrs of same maturity notes rated a 1 a that were priced to yield 7172 pct or 77 basis points over treasuries
banks are being invited to join at four mln stg for 50 basis points and at 25 mln stg for 40 basis points
in february 1986 the output index had stood at 1037 producing a year on year rise for february 1987 of 04 pct
darts holdings amounted to just under five pct of dayton hudson
german analysts see gold rising in 2nd half 1987
penwest ltd penw 2nd qtr ends feb 28 net
he also said economic growth has kept pace with or surpassed the growth in debt for nine of the 15 major debtors since 1983
foreign exchange dealers said the yen funds would be used to buy dollars to prevent a further dollar fall
shr 257p vs 215p div 6p vs 4p pretax profit 2413 mln stg vs 1640 mln net after tax 1508 mln vs 1052 extraordinary credit 871 mln stg vs nil turnover 1408 mln vs 9655 note the extraordinary item comprises profit less losses on the sale of certain subsidiaries less related tax and minority interests
they all have different opinions
ln short jr president of the company said it sold the unit because of slumping profits due to south africas economic decline
until recently commercial banks were slow to conclude new financing packages pending completion of a mexican package mulford said
turning to 1986 results seipp said by year end there had been a strong growth in business volume
in a filing with the securities and exchange commission dixons said it has determined to explore the possibility of the sale following its preliminary review of the business and activities of cyclops
shawmut corp shas sets regulary dividend
it said lower interest rates which are expected to reduce corporate borrowing costs are also behind the improved performance outlook
the commodity credit corporation ccc has accepted a bonus offer from an exporter on the sale of 13 head of dairy cattle to morocco the us agriculture department said
this is yen strength not dollar weakness he said
refinery crude runs in the four weeks were 1221 mln bpd up 22 pct from 12 mln a year earlier it said
in april reserves rose a hefty 29 billion stg
the officials could neither confirm nor deny reports that venezuela will temporarily produce ecuadors entire opec quota set at 210000 barrels per day for first half 1987
wang chang ming vice chairman of the council for economic planning and development told the government is planning another round of deep tariff cuts in the second half of this year
the securities may be offered from time to time through underwriters or by the company directly or through agents it said
oper shr profit 62 cts vs profit seven cts oper net profit 3492000 vs profit 401000 revs 628 mln vs 620 mln nine mths oper shr profit 126 dlrs vs loss 42 cts oper net profit 7131000 vs loss 2344000 revs 1903 mln vs 1800 mln note 1986 period ended september 28
belgian central bank buys currency to repay debt
pioneer sugar was expected to recommend acceptance of the bid through which csr would benefit from the bottoming out of a cyclical downturn in sugar prices
theres no evidence of that he said
hadson hads to acquire 85 pct of seaxe seax 
the plant employs 2800 workers and can slaughter several thousand animals a day a company spokesman said
clevite industries inc said it received a written proposal from jp industries inc jpi seeking to buy all of its outstanding shares for 1350 dlrs a share
lifetime lft exchange offer accepted
the seven contracts currently traded on the nzfe are five year government bonds the share price index 90 day bank bills 90 day prime commercial paper the us dollar crossbred wool and wheat
1987 net both periods includes 3700000 dlr addition to loan loss reserves due mostly to one out of state real estate transaction
this would in turn help the market position for certain crops of which the ec is a net importer such as oilseeds peas and beans but for which the commission is now proposing severe output restrictions
papers say venezuelan central bank chief to resign
all we have seen today is some squaring up of positions she added
cb and t bancshares inc cbtb 1st qtr net
central bank president francisco gros denied rumours that foreign creditors had filed court actions against brazil to seek payment of its 109 billion dlr debt
it said accrued interest to march 31 will be paid on that date to holders of record as of march 15
pakistan and sweden have signed a commodity exchange agreement for 88 mln dlrs each way the pakistan government announced
maize increased one to 90 per tonne at buenos aires was unchanged at 82 in bahia blanca increased 050 to 85 at necochea and fell one to 88 at parana river ports
some 80000 tonnes were held by banks and brokers after the international tin councils itc buffer stock manager halted support operations on the lme on behalf of the 22 members nations of the international tin agreement
rio grand rgdc unit in partnership agreement
in fiscal 1986 tandem earned 144 dlrs a share
the cost of living index fell 014 pct to 43449 in january 1986
but it will continue to purchase quantities of us and foreign crude oil for use in its refinery system he added
how new regulations will affect foreign banks here was uncertain
great western financial corp gwf 3rd qtr net
the darman announcement came on the eve of the semi annual meetings of the international monetary fund and the world bank where many policies darman helped shape will be debated
the banks new rate will be the lowest of australias current prime rates
international lease finance corp filed with the securities and exchange commission for a shelf offering of up to 500 mln dlrs of debt securities in addition to 1575 mln dlrs of debt securities already registered with the sec but unsold
commerce chief spokesman bj cooper said the department had had no contact with schlumberger about the deal
fairchild industries inc fen 4th qtr loss
this was an aspect which was discussed at length during the negotiations but we can say our contract covers all eventualities in this regard he told during the signing ceremony here
the notes have an eight pct coupon and were priced at 99125 to yield 88 basis points over comparable treasuries
of the total set aside for debt servicing omar said 5746 mln dlrs would go to principal and 207 mln to interest payments
new york investor george soros and an investment fund he controls said they raised their stake in king world productions inc to 2485510 shares or 81 pct of the total outstanding from 1986710 shares or 65 pct
but there are more positives than negatives she said citing reduced capacity in the domestic industry better prices and a weaker dollar which should cause steel imports to drop off slightly from last year
scott did not disclose which investment dealers merrill lynch canada was considering acquiring but the toronto star quoted unidentified industry sources as saying serious discussions have already been held with burns fry ltd
caisse centrale des banques populaires will lead a 300 mln issue for the groupement des industries pour le batiment et travaux publics
the infrequency of bond issues exacerbated the lack of liquidity necessary for the development of a market hu said
gemini technology inc gmtif year loss
santa fe southern pacific appeals merger ruling
treasury secretary james baker said that the agreement in paris to cooperate in exchange rate changes showed that the process of coordination agreed to at the tokyo summit was working
even so japanese officials point to last septembers government programme of new economic measures
ecuadorean finance officials have been in telephone contact every day this week with some of the banks who sit on its 14 bank advisory committee the senior government finance official said
the financing will be for 14 months but the borrower will have the option after 10 months to request an extension for another six months
two brazilian shipping firms settle with strikers
plans to retire or refinance high cost debt should improve the companys credit quality s and p added
shr 40 cts vs 23 cts net 1173859 vs 672824 revs 110 mln vs 9857707 nine mths shr 103 dlrs vs 56 cts net 2986823 vs 1637559 revs 315 mln vs 272 mln
soybean imports are forecast to rise to 425000 tonnes in 1987 88 october september from an estimated 300000 in 1986 87 and 375000 in 1985 86 the us embassy said in its annual report on indonesias agriculture
baker said the six nations participating in the paris meeting in february had acknowledged that the currencies are within ranges that are broadly consistent with the economic fundamentals and we and the others as well remain prepared to cooperate closely to foster stability in exchange rates around those levels
president samuel huntington told analysts the utility will have to take a write down of about 235 mln dlrs if federal regulators do not allow the company to pass on the losses cited by the accountants to its rate payers
borealis in gold exploration pact with faraway
the improved export performance was led by electrical and electronic products textiles footwear clothing processed food timber chemical and rubber products he told a news conference
travers will continue as chairman president and chief executive officer and thomas j
the unadjusted figure stood at 708700 at the end of last month a decline of 3800 from the january total of 712500 and comparing with 750000 at the end of february last year
the deal is subject to approval by both companies directors
tenneco was up 1 7 8 dlrs to 48 5 8
delegates from 22 countries are meeting informally to discuss progress made since the latest gatt round was launched in punta del este uruguay last september
it said the proposed settlements would resolve disputes over possible violations by the five parties
the approval follows an act of parliament passed last week designed to help the industry regroup and shed 20 pct of capacity by march 31 1988 transport ministry officials said
distillate fuel stocks held in primary storage fell by 34 mln barrels in the week ended feb 27 to 1284 mln barrels the energy information administration eia said
a blizzard warning continued this morning across most of western kansas
what we want now is to kill it once and for all bennett added
earlier this month lawyers for ward told a jersey court that ward saw the payment as his reward for services in last years takeover battle for distillers co plc guinness has said that both men breached their fiduciary duty in authorising the payment
braun and co
the world bank said it approved a 100 mln dlr loan to help brazil finance the rehabilitation of the railway in sao paulo state and establish an institutional reform program as a base for future commercial operation
society for savings bancorp socso 3rd qtr
indonesia seen at crossroads over economic change
qtr ends feb 28 shr class a 61 cts vs 48 cts shr class b 59 cts vs 46 cts net 2358000 vs 1876000 revs 122508000 vs 105871000 six mths shr class a 115 dlrs vs 86 cts shr class b 113 dlrs vs 84 cts net 4485000 vs 3378000 revs 242453000 vs 210117000 note qtr and six mths prior figures reflect two for one stock split in august 1986
period ended feb 28 shr profit five cts vs profit four cts net profit 191000 vs profit 108000 sales 6561000 vs 5896000 nine mths shr loss 28 cts vs loss 40 cts net loss 871000 vs loss 990000 sales 9310000 vs 8894000 avg shrs 3086386 vs 2465996 note full name is american nursery products inc
sales of 8 mm video camera recorders totalled 300000 units in the three months unchanged from a year earlier while beta format video tape recorders vtrs sales fell to 300000 from 350000
in spain buoyant domestic demand led by fixed investment had been the driving force behind rapid growth in gross domestic product
under the first financial proposal comdata holders would receive no more than four dlrs per share in cash and could receive all stock
transworld liquidating twt to distribute
they would not disclose the councils recommendation but the officials said earlier it was likely the council would call for retaliation and urge that curbs be imposed on japanese exports to the united states
victory markets inc files to offer debentures
in the long term we cannot repeatedly bludgeon other nations into opening their markets with threats of us restrictions
discussing the possibility of an acquisition panic said the such a purchase is necessary because icns current marketing capability would not be sufficient to support distribution of the companys products given icns expectations for market growth worldwide
in addition ansett would gain one board seat he said
the us case brought by the us national soybean processors association alleged argentina through differential export taxes implicitly subsidized domestic soybean crushers
it said the purchase will be financed with a combination of a new bank credit agreement and through private placement of senior subordinated notes and convertible preferred stock
federated department stores inc said it raised its quarterly common stock dividend to 74 cts a share from 67 cts an increase of 105 pct
in a statement janos said core earnings are expected to average 15 mln dlrs per quarter or six mln dlrs for the year while sales of real estate joint ventures will add another five mln during the year
the financial services company said it also completed the previously reported 296 mln dlr private placement of 15 mln non voting preferred shares convertible one for one into non voting class a shares
co leads are midland bank sa and samuel montagu
the euro commercial paper program allows for the issuance of notes with maturities of up to 183 days
it said the education project aims to increase literacy and school enrollment rates through curriculum reform teacher training parental participation and school construction
an optimal tariff would be one implemented only if the international price of crude oil falls below say 15 dlrs a barrel
chevron corp said it sold 46 mln shares of unc inc common stock on june 15 leaving it with 14 mln unc common shares or 84 pct of the total
indonesia holds general elections on april 23 the first in five years and most businessmen expect no new government economic packages or incentives before then
holden brown said allied lyons move to acquire hiram walker gooderham and worts ltd in march 1986 during elders take over bid for the company was 100 pct a growth action we knew when we did it that it could be misconstrued and that people almost inevitably would say the acquisition was defensive but it never was holden brown told reporters
condon did not say who had made the predictions but an awb spokesman said there was a general industry feeling that farmers hard hit by low prices and rising costs could cut back plantings sharply
iran and algeria have already called for a higher benchmark
the conversion period is from may 20 1987 until september 20 1992
the bug caused a rebellion among dealers who demanded greater freedom from restrictions placed on them by the major american automakers says jauppi
the bill also would require the foreign agricultural service fas to have at least 850 full time employees during fiscal years 1987 89
federal paper boards outstanding 125 mln dlrs of subordinated debt will be redeemed with the proceeds from the convertible preferred issue the agency noted
the bills will be issued april 16 in minimum amounts of 10000 dlrs and mature april 14 1988
plenum publishing corp plen said it filed with the securities and exchange commission a registration covering the planned offering of 50 mln dlrs principal amount of convertible subordinated debentures due april 15 2007
another area where glickman and other have said budget savings might be made is to increase acreage reduction program arp levels for wheat and corn
the company said the proceeds will be used to reduce debt continue the companys share buyback program and increase strategic investments in its core businesses and other corporate purposes
sunflowerseed imports fell to 308200 from 342900 tonnes while rapeseed imports rose to 292000 from 201400 tonnes
southern new england telecom sng declares div
petrobras said in a statement today it had requested the withdrawal of the troops
lower tax offsets lower shell uk upstream profit
he said the measures would include removal of trade barriers on insurance and inland services for us companies
clearly those countries need to develop their export endeavours and they need open markets for that to happen and thats the basic objective of the new gatt round but he said the gatt round is a long term endeavour
under the structural adjustment program supporting the debt reschedulings nigeria is due to receive 900 mln dlrs in fresh export credits this year from official export credit agencies
the numbers shipped to the united arab emirates and bahrain fell however
attributable profit 45 mln vs 39 mln
the target for the narrow measure of money supply m0 was kept unchangd at two to six pct while the target for the broad sterling m3 aggregate was dropped
the average price for the three month bills was 98554 and prices ranged from 98559 to 98549
the dollar is expected to decline further in coming days as scepticism mounts about the effectiveness of last months paris accord to stabilise currency exchange rates senior foreign exchange dealers said
we have very large projects in indonesia and we would like to accelerate their implementation katz told 
mead corp said it filed a shelf registration with the securities and exchange commission covering potential debt securities offerings of up to 150 mln dlrs
yeutter in new zealand for informal gatt ministerial talks told bilateral trade disputes are increasing because the multilateral system is inefficient
board member leonhard gleske also told a forex association conference current exchange rates of major currencies can be viewed as equilibrium levels in a medium term perspective he said the recent paris agreement on currency stabilisation and policy coordination between the group of five and canada may herald an era of greater exchange rate stability the paris agreement was not however an attempt to set up permanent target zones for exchange rates gleske stressed adding such targets would be extremely difficult to agree and enforce on an international level
canon usa issues 10 mln dlr frn private placement
he said that recently there appeared to have been some speculative buying of the bonds from the us but that european investors had been overall sellers
net profit 34 mln dlrs vs 43 mln dlrs
mcdonnell douglas corp md said it awarded a contract valued at 28 mln dlrs to a unit of grumman corp to develop flight control surfaces for the new us air force c 17 transport
ours is beginning to emerge and no agreement among producers is foreseeable in the immediate future he told journalists
he kang minister of agriculture animal husbandry and fisheries said this week that china has adjusted the purchasing price for sugar cane and beet to check a drop in production last year but he gave no price details
the company said sales commitments on hand are about 50 pct above those of a year ago but system sales revenues are recognized at shipment and only 30 to 40 pct of sales commitments in hand will ship during the period
the company said the impact on its results for 1987 was not likely to be significant but the amount to be charged to prior periods had not been determined
kistler estimated that the merger which should be completed in about two weeks will result in annual cost savings of about 50 mln dlrs
denominations are 10000 100000 and one mln markka and listing is in helsinki it said
under the plan 33 yards capable of building ships of more than 10000 gross tons will curtail operations to three mln compensated gross registered tonnes cgrt a year against capacity of about six mln cgrt
shr 19 cts vs 16 cts net 502000 vs 401000 revs 8791000 vs 6650000 six mths shr 38 cts vs 29 cts net 989000 vs 745000 revs 163 mln vs 125 mln
pointing to the reserves data lawson said we have been playing a very full part ourselves in meeting our commitments toward exchange rate stability as agreed in paris
york international corp said it has agreed to acquire frick co and frigid coil frick inc for undisclosed terms
french treasury to repay 680 million francs of debt official
former gold firm executives arrested in japan
the selling concession is 1 1 8 pct while management and underwriting combined pays 1 2 pct
thomas nationwide leases and re markets new and used international business machines corp equipment pacificorp said
baldrige expressed concern that the sale would leave the us military dependent on a foreign company for vital high technology equipment
computer associates international inc and uccel corp uce said they have signed a definitive merger agreement under which computer associates will pay about 800 mln dlrs in stock for all outstanding uccel shares
poehl said the bundesbank had tolerated rapid money supply growth last year because the country enjoyed low inflation and because external factors including low oil prices and favourable terms of trade had given some extra leeway
the 500 mln dlr asset bank holding company said that in view of recent investor interest in suburban chicago banks it retained merrill lynch capital markets to advise it on its alternatives
qtly div four cts vs four cts prior pay april 15 record march 20
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
the payment date is april 2 1987
brazils 1986 87 cotton crop estimate has been reduced to 710000 from 735000 tonnes lint basis the us agriculture departments officer in sao paulo said in a field report
fees total two pct with 1 1 4 points for selling and 3 8 each for management and underwriting
twa offered to buy usair for 52 dlrs cash per share
the bond pays interest annually on march 25 and matures on the same date in 1992
the deficit for calendar 1985 was 261 billion
australias woolworths looks to improved profits
butler btlr to buy skylight manufacturer
lloyds bank plc lloyl said it is cutting its base lending rate to 105 pct from 11 pct effective tomorrow
it might also cause private lenders to become reluctant to extend more credit to the borrowing countries he said
key inc subsidiary to a new concern formed by keys management and a private investor for about 155 mln dlrs
pca figures show about one third of the countrys population is dependent on the coconut industry
iraq which said it would not honour its 1466 mln bpd quota under the december pact had produced less than had been anticipated he said
united presidential corp upco 4th qtr net
us first time jobless claims rose in week
his office said lawson had welcomed the outcome of a meeting between us treasury secretary james baker bundesbank president karl otto poehl and west german finance minister gerhard stoltenberg in frankfurt
waree said sayam bank was trying to recall about six to seven billion baht of loans extended by its previous private management and was taking legal action to collect another four to five billion baht of doubtful debts
the bulolo field in morobe province was the first successful gold mining operation of placer development ltd after it was floated in canada in 1926
shr 27 cts vs 34 cts net 174390 vs 222720 revs 4948622 vs 4516042 note current net includes non recurring loss on investments of 82034
because of the seamen strike exports are being delayed and the country is losing badly needed foreign exchange
while mergers and acquisitions among us firms number in the thousands japanese buyouts of overseas companies have totalled just a few dozen one merchant banker said
south koreas gaining market share said one analyst
this is an increase of 500000 shares from the previously announced registration the company said
champion products inc said its board of directors approved a two for one stock split of its common shares for shareholders of record as of april 1 1987
in the 1st quarter of last year when the companys quarter ended feb 28 1986 it earned 957000 dlrs or 10 cts a share on revenues of 45 mln dlrs
oper shr 38 cts vs 184 dlrs oper net 973000 vs 4497000 nine mths oper shr 122 dlrs vs 131 dlrs oper net 3133000 vs 3410000 note results exclude extraordinary gain from net loss carryforward of 672000 dlrs or 27 cts in 1987 3rd qtr 918000 dlrs 38 cts in 1986 3rd qtr and 1071000 dlrs or 44 cts in 1987 nine months
chemlawn had said last week that it was negotiating with other possible suitors which it did not identify
he told in an interview that csbcs first joint production venture to build two hulls for onomichi dockyard co ltd was a success
cocoa buffer differentials detailed
non callable for two years the debentures are rated ba 3 by moodys and bb minus by s and p
thai officials told they were optimistic the new pact was viable because it strictly limited the extent of debt the inra buffer stock manager might commit to his market operations
there is a front end fee of 1 32 and a utilisation fee of five basis points if more than 50 pct of the revolving credit is drawn
baker has an agreement to sell the pump business to trico industries inc tro the financial terms of the merger are unchanged a hughes spokesman said
amoco an may buy dome dmp report says
iraq defers payments on 500 mln dlr euroloan
he also suggested a line item veto which allows the president to veto parts of bill without rejecting all of it to limit wasteful spending
the well is two km south south east of kerna 3 15 km south east of the dullingari field and 75 km east of moomba
the monthly average in january was 7371 billion dlrs
reagan said his administration has already proposed deregulating natural gas and eliminating the windfall profits tax on crude oil production
a number of producer governments in particular have not decided their final position on whether the ita should be extended for up to two years or wound down after it expires on june 30 according to delegate sources
fed sets two billion dlr customer repurchase fed says
since then prices have risen from 15 dlrs in december to just above the official opec levels with oil industry analysts firmly convinced the organisation will maintain the agreement to keep the market stable
i think one of the things that has to be recognized in that merger is that it appears at least that a good portion of the ownership of american motors which has been in overseas hands will be put back in american hands meese told the subcommittee
contract prices have risen in response to higher spot market prices oil traders said
shr 67 cts vs six cts net 16 mln vs 131630 revs 65 mln vs 45 mln year shr 85 cts vs 19 cts net 20 mln vs 427749 revs 251 mln vs 174 mln note 1986 net includes 14 mln dlrs in tax loss carryback
woolworths is unrelated to the us group fw woolworth zn it has been the subject of takeover speculation since industrial equity ltd acquired a 20 pct stake last year
they said the abu dhabi government and compagnie francaise des petroles total tpnpa whose total abu al bukhoosh subsidiary owns 51 pct of the field have agreed on the reopening but that a date has not been definitely fixed
more a spokesman for the federal statistics office later said the anti cartel authorities would probably rule on the takeover in the new few weeks
the bank said first quarter total assets increased to 8392 billion dlrs from 7893 mln dlrs in the prior year due mainly to continued expansion in consumer loan and mortgage fields
1985 results restated to reflect june 1986 two for one stock split
net sales of 117700 tonnes of soybean cake and meal fell 31 pct from the previous week and 38 pct below the four week average
the finance department announced the new 12 billion dlr four part bond issue to be dated march 15 and delivered march 16 will be priced as follows
in february jp industries said it purchased clevites engine parts division
the move is the first change in the banks us dollar base lending rate since last august when it lowered the rate 1 2 point
the state oil company petrobras requested the intervention because of a threatened strike by 55000 oil industry employees
yergin said he saw mounting support within congress for tax incentives rather than an oil tariff or import fee
german january industrial output fell 30 pct after a decline of 09 pct in december
net earnings from iron ore operations were 1118 mln dlrs against 1492 mln in 1985 it said
it said the bank last year started foreign exchange services for the first time on an experimental basis in shenzhen zhuhai and xiamen but it gave no more details
transco partnership txp gas reserves rise
baker also said he still sees ominous signs of pressure for protectionist trade legislation and this pressure for protectionism is coming from new areas of society but he also said he believed a coalition was forming that supported free trade
semiconductors on the american market they have continued to dump them in third countries and that the japanese market has remained all but closed to the us semiconductors
total supply of frozen concentrated orange juice fcoj in 1986 87 is expected to be significantly above year earlier levels even with carry in stocks well below the previous season the us agriculture department said
dutch seasonally adjusted unemployment rose in the month to end march to a total 693000 from 690600 at end february but was well down from 730100 at end march 1986 social affairs ministry figures show
we selected the korean firm because its bid was the lowest he added
current world prices range from 49 to 55 dlrs per tonne unit but china suffered heavy losses when the price slumped to 39 dlrs earlier this year it said
morgan guaranty ltd will co lead manage the issue which will be sole in denominations of 10000 francs and be listed in luxembourg
petroleos de venezuela sa the venezuelan state oil company that supplies a large portion of texacos oil also halted shipments two weeks ago yates said
grossmans inc gros 4th qtr loss
the direct effect of the lower rating on our borrowing capability is unlikely to be very great
the degree of success or failure of a takeover has not in my experience depended on whether or not the takeover was contested he said
thermo process systems inc said it completed its purchase of thermo process services inc a subsidiary of thermo electron corp tmo thermo process systems said it issued 2590000 shares of its common stock to thermo electron in connection with the sale
the actions affect 55 billion dlrs of debt
allowing flow through shares under the program will make it easier for companies to attract investors in exploration and development masse said
the conversion eliminates its obligation to pay principal amount due 1993 on the debentures and will increase cash flow through an interest saving of more than 800000 dlrs a year the company said
the imf however which essentially forged the debt stategy following the disclosure by mexico in 1982 that it was near default is considered a stern taskmaster that has little sympathy or even understanding of poverty
yen usurps godzilla as japans favourite horror
but the volume of savings funds may not be substantially undercut by lower savings rates because many customers are parking funds in savings accounts in the hope they can reinvest them at higher yields in the future he said
1986 net excludes charges from debt restructuring of 1976000 dlrs in quarter and 3800000 dlrs in year
fees comprise 7 8 pct selling concession and 3 8 pct management and underwriting
eishiro saito head of top japanese business group keidanren spotted the dangers inherent in such contradictory views last november when he visited the european community
the company was not immediately available to say who had acquired the 54 pct block of stock
the hong kong economic journal quoted a spokesman of australian stock broker jacksons ltd as saying that barwon farmlands ltd a listed australian firm of which ariadne owns a 30 pct stake is planning a branch in the philippines
distribution from april 1 would be on an unchanged basis as in an earlier producer proposal which includes shortfall redistributions totalling 122 mln bags they said
goodyear gt to receive 588 mln dlrs for unit
the company paid an extraordinary dividend of 10 cts in may 1986
holders other than an acquirer would be entitled to purchase for six months after the right becomes exercisable a number of shares of the new preferred stock with a market value equal to twice the exercise price of the rights
shr loss 21 cts vs loss seven cts net loss 971000 vs loss 318000 revs 83 mln vs 92 mln year shr loss 43 cts vs profit 14 cts net loss 19 mln vs profit 606000 revs 325 mln vs 319 mln note1986 loss includes reserves of 329000 1985 includes tax benefit of 352000 96000 and 570000 dlrs1986 4th qtr includes 850000 dlrs writedowns 499000 dlr gain from sale
unocal ucl unit cuts crude oil posted prices
british foreign secretary sir geoffrey howe backed the united states attack on an iranian oil platform on monday and said it should not worsen the gulf crisis
the government has so far rejected suggestions that it let the imf play a role in rescheduling its 109 billion dlr debt the biggest in the third world
the sources said a south african delegation led by chief debt negotiator chris stals director general of finance was completing meetings in london today with foreign creditor banks
they said last weeks cereals management committee agreed to release 70000 tonnes of feed wheat through weekly tenders between april 14 and may 26
hughes will work with baker and the justice department towards negotiating the final form of the consent decree and filing it as soon as possible the company said in a statement
sri lanka is the worlds second largest exporter of dessicated coconut after the philippines
the average lead time for development of a shale oil or liquified coal project is between five and ten years
alcan bertone make aluminum structure car
cyclops received a sweetened offer of 9250 dlrs per share from cyacq acquisition corp led by audio video affiliates inc ava
mikulic was speaking to west german journalists in an interview published yesterday by the tanjug news agency
the system will be effective until the end of 1988
the following proposed securities offerings were filed recently with the securities and exchange commission weyerhaeuser co wy offering of four mln shares of convertible exchangeable preference shares through morgan stanley and co inc
goldman sachs and co privately placed the debt with a group of institutional lenders the company said
there is clearly a danger that adequate financing arrangements are not being negotiated and put in place in a timely way volcker told the senate banking committee
he said last night sudan was 26 billion dlrs in arrears on debt repayments in the first half of this year
in addition to steinhardt himself the group includes steinhardt partners and institutional partners two investment firms of which steinhardt is one of the general partners
the loss included a one time restructuring charge of 17 billion dlrs
the dollars recent signs of stability have raised hopes that its 27 month decline may be nearly over but most currency analysts refuse to commit themselves until after the june 12 release of us trade data for april
avia said it had not seen the court papers and said it had no comment on the suit
companies like dupont dd and monsanto co mtc spent the past two or three years trying to get out of the commodity chemical business in reaction to how badly the market had deteriorated dosher said
the cray x mp 24 will replace a cray x mp 12 supercomputer in operation since 1985 it added
following are highlights of the us agriculture department supply demand projections for the 1986 87 seasons in mln bushels with comparisons unless noted corn stocks aug 31 1987 at 5240 vs 5595 last month
i think the worst is over and we can look forward to stability and upward movement ahead however the usx chairman warned that european trading partners may resist the turn in the us trade deficit
bank of japan intervenes in early tokyo afternoon
eligible producers of 1986 crop us corn and sorghum will receive an estimated 600 mln dlrs in deficiency payments 50 pct in generic commodity certificates and 50 pct in cash the us agriculture department said
duff and phelps said the utilitys debt ratings were lowered because of the recent negative rate order for its hope creel nuclear plants
possible reserves of 75000 tonnes grading 038 ounce gold per ton at the break zone would extend mine life by a year with considerable potential for development of further oxide ore reserves at the deposit they said
on may 5 comex did away with price limits on the two contracts following spot after a volatile market in silver futures at the end of april caused severe disruptions
delegates from the national pork producers council nppc attending the american pork congress in indianapolis voted overwhelmingly to recommend the us congress not to change the farm bill
united fire and casualty 4th qtr net
stifel financial corp said it received an unsolicited merger proposal from privately held laidlaw adams and peck inc for 15 dlrs a share in cash for all its outstanding shares
i am against credits for consumption he forecast gross domestic product growth of two pct this year from one pct in 1986
its not a taboo peter pietsch spokesman for commerzbank ag said
bond prices last week were slightly firmer on balance with the bundesbanks public authority bond yield calculation falling to 564 pct on friday from 566 a week earlier
he declined to give further details
the spokesman talking by telephone from rio de janeiro said 126 ships were strike bound
japanese keen to enter german primary bond market
the overall balance showed a surplus of 48 billion after 26 billion in 1985
the export of the sugar or products must occur before octoer 1 1991
the sources today said the governments policy remained one of recovery or sound finances and greater efficiency
worldwide rig utilization rose by 12 pct to 577 pct reflecting a net increase of eight working rigs
att has long pushed for deregulation of its long distance business the profits of which have been limited by a regulated rate of return on the companys investments
some analysts argued that to solve the semiconductor problem japan may have to take action beyond that pledged in the semiconductor pact
dow chemical co said it will issue 100 mln new zealand dollar denominated bonds worth approximately 56 mln us dlrs at current exchange rates
cato said the offering to be made in late april or early may is expected to raise 35 to 45 mln dlrs
a finance ministry economist said the government did not expect to have any trouble keeping to its plan to borrow only a net 223 billion marks this year
brennan said he expects his banks growth to come from increased exports to canada
ferro said although the airframe and aerospace industries are the prime users of composite materials today it plans to develop applications for the ground transportation and industrial markets in the near future
european community ec industry ministers today declared there is a need for a massive round of closures of steel plants to bring capacity in the 12 country bloc into reasonable balance with demand
one banker said banks were wary of repeating a mexico type accord which some 70 small creditor banks are still refusing to endorse five months after it was signed
summit petroleum corp said it sold 113 mln shares or 294 pct of its common stock to halbert and associates inc the company said the shares were previously held by consolidated energy corp and harken oil and gas inc hogi in addition david d
taiwan passes on us corn will retender
national data on discount window borrowings are due to be released at 1630 est 2130 gmt
the planned offer for common stock holders calls for the company to exchange either 30 dlrs in cash or 35 dlrs principal amount of 13 pct subordinated debentures due september 1 1997 or one share of a new class b common stock for each class a share held arden group said
coca cola enterprises inc said it filed with the securities and exchange commission a registration statement covering 500 mln dlrs of debt
in announcing the sanctions last friday president reagan said japan had not fulfilled its promise to halt predatory pricing and open japans market to foreign products
gould inc said it registered to offer two mln shares of convertible exchangeable preferred stock
shr loss five cts net loss 90066 sales 328127 note company began opeations in april 1986
dekalb corp dklbb 2nd qtr feb 28 net
assays ranged from about 035 ounces of gold per short ton over a 150 foot interval at a depth of 350 to 500 feet to about 11 ounces of gold per ton over a 65 foot interval at a depth of 200 to 410 feet
oper shr 59 cts vs 49 cts oper net 547 mln vs 448 mln sales 104 billion vs 9214 mln nine mths oper shr 222 dlrs vs 162 dlrs oper net 2038 mln vs 1504 mln sales 314 billion vs 287 billion avg shrs 916 mln vs 931 mln note 1986 share data restated to reflect 100 pct stock dividend distributed june 12 1987 operating net in both periods excludes additional gain of 116 mln dlrs or 13 cts a share associated with 1985 sale of formica brand products group business 1987 nine month operating net includes pre tax gain of 120 mln dlrs equal to about 13 cts a share from sale of jacqueline cochran businesses
icn has been the focus of consirable investor attention in recent months because of virazole which has undergone clinical trials as a possible treatment of some aids related diseases
japanese crushers bought 4000 to 5000 tonnes of canadian rapeseed in export business overnight for may shipment trade sources said
the idb was established by the 46 member islamic conference organisation and opened in october 1975
soft red 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stocks 79 79 64 64 production 290 290 368 368 ttl supply x 369 369 432 432 domestic use 181 193 204 204 exports 120 120 149 149 total use 301 313 353 353 end stocks 68 56 79 79 note season begins june 1
the group of consumers has been seeking an adjustment of the lower indicative price set at 150 malaysian singapore cents a kilo in the present pact if the buffer stock currently 360000 tonnes rises to 450000 tonnes
the surviving company will be known as owen illinois inc it said
us agriculture department animal health officials are conducting a national survey of live bird markets and auctions to check for signs of avian influenza an infectious viral disease of poultry the department said
cocoa council agrees new buffer stock rules delegates
brazil and its bank creditors failed to achieve any breakthrough in debt talks here last night after brazil refused to say when it would resume interest payments
hovnanian enterprises inc said its board of directors has declared a two for one split of its outstanding common stock
earlier the central bank had estimated the deficit in the system today at some 450 mln stg
the federal home loan bank board adjusted the rates on its short term discount notes as follows maturity new rate old rate maturity 30 69 days 500 pct 500 pct 30 124 days 70 88 days 592 pct 590 pct 125 150 days 89 123 days 500 pct 500 pct 151 173 days 124 150 days 593 pct 592 pct 174 182 days 151 349 days 500 pct 500 pct 183 349 days 350 360 days 598 pct 594 pct 350 360 days
cji industires inc cjiia 4th qtr net
sorghum 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 yield bu 677 677 668 668 supply mln bu start stcks 551 551 300 300 production 942 942 1120 1120 total 1493 1493 1420 1420 usage mln bu feed 550 575 662 662 other 30 30 29 29 ttl domest 580 605 691 691 sorghum cont 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 exports 225 225 178 178 total use 805 830 869 869 end stocks 688 663 551 551 avge price 130 50 130 50 193 193 note price in dlrs per bushel
a final decision on development of the kittiwake and osprey north sea oil fields will be made in the next 12 to 18 months reid said
in a communique issued after a four hour meeting at the us treasury that ended last night the ministers said the value of the dollar and other currencies was basically correct now and they welcomed new measures planned by the japanese to boost their economy
a cut in the seven day repurchase rate could come as early as tomorrow morning banking sources said
dynamics said the cts board will recommend cts shareholders vote at the 1987 annual meeting in favor of the company paying dynamics 2178000 dlrs as a reimbursement for its cts releated costs and granting dynamics an option to buy enough cts common at 29625 dlrs a share to give it ownership of 35 pct of the outstanding stock
depending on its evaluation of the company including actions by crazy eddies board and any possible third party bids for the company entertainment marketing and its president said they may hold their present stake in the company sell some of their shares or purchase more shares on the open market through private purchases or in connection with a merger or tender offer
kuroda also laid part of the blame for low us chip sales in japan on a lack of effort by american firms here
german trade current account data due today
mexico received the first 250 mln dlrs of a 500 mln dlr credit from japans eximbank to finance a mexican oil pipeline the finance ministry announced
foxboro co fox 4th qtr loss
note period year to december 31 1986
in the us 1986 petroleum production responded to lower prices increasing about 25 pct or 400000 barrels per day bpd said js simon general manager of the supply department at exxon corp xon the nations largest oil company
mco holdings inc mco 4th qtr loss
but he believes the firm will digest the nippon investment first
foreign banking sources in manila said on tuesday that the philippines had raised its basic interest rate offer to 7 8 over the london interbank offered rate libor but ongpin would not discuss details of the pricing negotiations
we should make this classification obligatory and publish it in places that are easily accessible to lay people he said
in shipping mhi is fighting back against low priced south korean competition by building more technologically advanced carriers to carry liquefied natural gas and other products difficult to transport
but there was no sense of urgency they said and brazil had made no appeal for bridging loans from the bis or central banks
out of this traders in the uk received 37800 tonnes in france 34500 in west germany 20000 in belgium 18500 in spain 5800 and in denmark 1750 tonnes it added
the plan adopted in december 1986 permits clevite to issue shares at half price to existing stockholders and allows stockholders to buy shares of an unfriendly bidder at half price
its pure market speculation that boone pickens and his group may be interested feretti said
elsewhere in far north queensland the bundaberg region and southern queensland the cane is in excellent condition and some mills are forecasting record crops he said
the sharp rise of the mark coupled with weak prices of such key commodities as oil had a favourable impact on west german inflation down year
the redemption is pursuant to the optional redemption provisions of the indenture at a price of 111981 pct of part
the government meanwhile declared the port jobs an essential service and said the strikers could be dismissed unless they end the strike soon
finance minister edouard balladur said half the january rise was due to higher oil prices and forecast a february slowing
ajinomoto to buy out joint food venture partner
richardson electronics ltd said it agreed to buy for undisclosed terms geb giant electronics brand a florence italy based distributor of electron tubes and semiconductors
maverick restaurant corp mavr 4th qtr loss
the poultry is for shipment november 1987 through august 1988 and the bonus was 47399 dlrs per tonne for the frozen fryer legs
they are non callable for life
the payment date is april 30 and there will be a short first coupon period
the six agreed to cooperate to stabilise exchange rates at around current levels
the value of exports totalled 802 billion marks a decline of 74 pct against the same months of 1986
rotterdam signs cooperation agreement with tokyo
sosnoff said painewebber group inc pwj has now delivered to him commitments to purchase up to 475 mln dlrs of increasing dividend cumulative exchangeable preferred stock of mts holding corp an indirect parent corporation of mts acquisition
uk property company mepc plc is issuing a 75 mln stg eurobond due april 15 2004 paying 9 7 8 pct and priced at 99 5 8 pct lead manager county natwest capital markets said
toyota severed ties with its philippine partner of 20 years delta motor corp in 1984 because the local company was suffering financial difficulties
allied signal inc ald 3rd qtr oper net
in addition simon said first central financial is actively looking for and has several acquisition brokers looking for a small life insurance company to acquire he said the acquisition should be in the 10 mln dlr range and will be part of a strategy of expanding the company into a wide spectrum of insurance services no specific company has been targeted as yet but i would like to make my first acquisition in 1987 he said
it said tmoc is already a partner with agl in the alice springs to darwin gas pipeline and has a number of businesses complementary with those of agl
this is the so called market to market value
noma industries ltd year net
tm communications tmci completes purchase
woolworths shares closed on australian stock exchanges today at 350 dlrs down five cents from friday
in a bid to integrate the bank into the us debt strategy washington has suggested it would be ready to subscribe nine billion dlrs to a new four year capital replenishment of the bank
us sugar consumption has declined which has resulted in a progressive contraction of the sugar import quota to only one mln short tons this year he said
work on the vessel which crosbie said would be the most powerful icebreaker in the world would begin next year and completed in 1992
the issue is being co led by credit lyonnais
bank of japan to sell 800 billion yen in bills
sarney last month suspended interest payments on brazils 68 billion dlr commercial debt a move which has found little favour among the countrys business community
earlier the company reported 1986 earnings ended january 31 of 890 mln dlrs or 149 dlrs per share versus 946 mln dlrs or 161 dlrs per share in fiscal 1985
afg afg wagner brown bid for gencorp gy 
southmark said the acquisition makes it the nations largest apartment management firm with over 100000 units under its wing
coconuts are planted on about 32 mln hectares or one fourth of total agricultural land
periods end march 31 1987 and 1986 respectively
later today the higher labour tribunal in brasilia is due to rule on whether the seamens strike is legal
total sales for the same period are expected to rise to 5506 billion yen from a projected 5328 billion this year ntt said in a business operations plan submitted to the post and telecommunications ministry
the company said it will buy the 85 pct interest in seaxe from shareholders owning restricted or controlled shares for less than 200000 hadson common shares
the philippine government seized the shares which represent a 31 pct stake in the brewery firm from the united coconut planters bank alleged by the government to be linked with the countrys deposed president ferdinand marcos
in just two days we had as many issues
the float follows the signing by finnish president mauno koivisto last friday of legislation entitling aliens with effect from next june 1 to own up to two fifths of the shares in finnish companies with consent of the council of state as against one fifth although voting rights will be restricted
speaking at the 14th annual congress of the interarab cambist association viermetz said an agreement reached last month among major industrial nations to steady the dollar around current levels left many questions unanswered
conable had what he termed a frank meeting this morning with suharto
she said evergreen will use the funds raised from the stock market to buy new ships and step up its global services
however if these phrases mean the government of canada means to take important economic issues off the table in these negotiations i am deeply concerned he added
todays liberalised financial markets are making it extremely difficult for japans monetary authorities to prevent the yens rise against the dollar but they have several options other than normal intervention bank of japan sources said
indonesian energy minister subroto said he sees the oil market continuing bullish with underlying demand expected to rise later in the year
qtrly div 17 cts vs 17 cts prior pay april 13 record march 25
privately held pantry inc which operates 477 convenience stores in five southeastern states said it has engaged alex
diceon electronics dicno to buy symtron corp
the declines were offset by a 55 pct increase in grocery store sales and a 99 pct gain in hardware sales
the partnership said however that it will pay a regular quarterly distribution of 60 cts a unit on april 15 to holders of record march 31
it was an entry point a port for semiconductors and a marketing channel for other things said barclays de zoete wedd analyst rick may
irish industrial production index up 62 pct
official figures show that forward us dollar sales in may reached a record of almost six billion us dlrs against 59 billion in april
f indicated total for season
the company said that in early april its oak brook hills hotel and conference center in suburban chicago will open under its management
the special meeting called to stop the prolonged slide in coffee prices was likely to adjourn sometime tonight without agreement delegates said
the dollars tumble to a record low of 14470 yen in tokyo today motivated some major japanese investors to lighten their us bond inventory further and is expected to spur diversification into investment assets including foreign and domestic shares dealers said
the latest aid package is the third since 1977 for rgc a major employer in queenstown on the thinly populated west coast of tasmania
the firm will redeem the debentures with funds generated from operations
florida citrus processors association said frozen concentrated orange juice movement into trade channels in the week ended april 4 totalled 4496533 gallons versus 5058976 gallons in the week ended march 28 and 4141578 gallons in the corresponding year ago period
michaels stores mke march sales rise
he defended flexible exchange rates saying wide swings in rates were not a fault of the system but of the undesirable policies that produced them
the money will help to enlarge a factory which produces data processing equipment in the piedmont region
a government spokesman in paris said france is favourable to commodity pacts
glenfed inc gln 3rd qtr march 31 net
uk one billion stg bond tranche exhausted
there is strength in the february data but thats because they were compared to low sales levels in january said said beth reiners of dean witter reynolds inc
tektronix inc said it began its previously announced dutch auction cash tender offer for up to 10 mln of its own common shares
1985 4th qtr and yr net include net gain of 159 mln dlrs or 586 dlrs per share on exchange of common of pan america banks inc for common of ncnb corp purusant to a merger of the companies
teikoku kako co ltd is launching 40 mln swiss francs of five year notes with warrants with a 1 1 2 pct indicated coupon lead manager credit suisse said
iadb bank says it will match 1986 lending
she told a conference here on medium term notes that gmac is looking to obtain as fine pricing on the paper as it does with its program in the us the notes will be sold on a continuously offered basis the most popular structure so far in the us
shr loss 72 cts vs loss 148 dlrs net loss 4466006 vs loss 9091688 revs 608181 vs 1280727 avg shrs 6194000 vs 6155461 first half shr loss 77 cts vs loss 151 dlrs net loss 4752455 vs loss 9265457 revs 1444149 vs 2791188 avg shrs 6174731 vs 6155461 note losses include charges of 40 mln dlrs in both 1986 periods vs 144 mln dlrs in both 1985 periods for write down of oil and gas properties
coffee price drop not affecting colombias debt
they also expected the federal funds rate to edge lower
french aerospatiale to make euro cp issue
washington will have to take into account that for many countries and some of its allies for instance in central america a sharp fall in coffee export revenue would have far reaching political and economic consequences arango ruled out a fresh colombian initiative on export quotas saying producers had now to show a common resolve which could emerge from continuous contacts
year to dec 31 shr profit 636p vs loss 87p final div 24p making 34p vs total 2875p pretax profit 1438 mln stg vs 35 mln general underwriting loss on short term business 798 vs 1543 note companys full name is guardian royal assuance plc grexl underwriting profit on long term insurance business 216 mln stg vs 191 mln loss on discontinued international professional indemnity business nil vs 406 mln stg investment income 2138 mln stg vs 1936 mln less interest payable 118 mln stg vs 143 mln tax 388 mln stg vs 150 mln minorities 33 mln stg vs 23 mln extraordinary item contingency claims provisions on discontinued international business nil vs 550 mln stg
sales gains in home appliances and home fashions reflect a continuing strength in the housing market said edward brennan chairman of sears roebuck and co s which reported an overall sales gain of 42 pct
the hong kong branch of mitsubishi bank ltd is planning a 300 mln hk dlr revolving certificate of deposit cd issuance facility banking sources said
dollar straight bonds end lower texaco untraded
but if it had hit in july or august when fruiting would be underway it would have been worse mohler said
he called for more investment in grain production an immediate ban on illegal use of or damage to farmland and a reversal of what he called the tendency to rely on grain imports
no trades were reported so far
alliant computer systems corp alnt said that it has signed an agreement with macneal schwendler corp mns where macneal will develop a new version of its msc nastran software for alliants fx series computers
colombia opened export registrations and good business developed with both the fnc and private shippers
the suit seeks compensatory and punitive damages in an amount to be determined
amstutz sees more bullish wheat outlook in 1987
ecuador cannot service its debt owed to private foreign banks due to the earthquake that forced a suspension of crude oil exports central bank officials said
dealers said that federal funds were trading at 6 7 16 pct when the fed announced the operation
gm to idle six car plants next week temporarily lay off 21600 workers
the figure for male jobless rose by 2000 in the month to 436500 compared with 470700 a year earlier
it said the effect of trade disputes between the united states and the european economic community on the west german economy and the higher value of the mark may lead to increased costs which could not be offset by price increases
it is just as important for australia to maintain a financially healthy technically advanced refining and marketing industry as it is to sustain oil exploration and production he said
gross fees of 1 7 8 pct comprise 5 8 pct for management and underwriting combined and 1 1 4 pct for selling
uniforce temporary personnel inc unfr 4th qtr
henderson said us food and drug administration approval to market statil and zoladex both under joint licensing agreements with merck and co inc mrk is not expected until about 1989
stanley fishman analyst at fahnestock and co said it is better for a suitor to bid for outboard before the two mln shares are sold
texas eastern pipelines tet the other competing pipeline to deliver spot gas from producing areas in the south closed its gate station for summer and brooklyn union has relied entirely on transco for spot supplies
the new company will have proven reserves of 95 mln barrels of oil and 209 billion cubic feet of gas lasmo said
transactions of paper gold also fell up to 75 pct of the volume prior to imposition of the tax he said
he and others said the huge loss including writedowns totalling 208 billion dlrs before a 571 mln dlr reduction in deferred income taxes dramatically enforces the companys claim that a 50 pct drop in world oil prices has crippled its financial position
the agreement is subject to shareholders approval and other conditions
residential rmi issues 543 mln mortgage
he repeated the central bank will intervene if necessary adding he did not think a dollar free fall was likely
phh group inc phh 4th qtr april 30 net
the doe said it then had 120 days to select a proposal that it would recommend to congress which then would vote the recommendation up or down
we have the worst behind us and have swept nothing under the carpet profits for the year up 194 pct from 1985 pre tax profits of 688 mln stg were mainly due to a high contribution from corporate finance activities and progress in asset management
the company said identical stores sales increased 15 pct for the month of february
france to request permanent maize rebates
stifel financial sf receives merger proposal
analysts agreed that investors liked the repurchase program but they differed sharply over the carmakers long term prospects
at best it will have a small positive effect collander said in an interview
if a definitive agreement or transaction results from any of the offers now pending for the companys stock becor said a date for a new shareholders meeting will be established
the agreement is subject to approval of both boards and wtc shareholders
ncnb corp said the board of governors of the federal reserve system approved its application to merge with centrabank inc of baltimore expected to be completed july 1
moret was referring to the strong demand for dutch bonds up to and following last years election of prime minister ruud lubbers whose centre right coalition government was pledged to a tight economic programme which bolstered the guilder
but pertamina president abdul rachman ramly has said priority will be given to extending contracts for companies whose exploration and production contracts expire within the next seven to 10 years
bank of china takes stake in baii holdings
cattle slaughter is guesstimated at about 128000 to 132000 head versus 130000 week ago and 126000 a year ago
jude medical stjm votes dividend rights
ual ual completes buy of hilton intl
in addition david clarke the president of another hanson trust subsidiary hanson industries will be named chairman of international proteinss executive committee upon his election to the board at the annual meeting
gasoline service station sales rose two pct in february following a 19 pct gain in january but economists said higher oil prices rather than an increased volume of gas sales probably accounted for these gains
the bank of england said it provided the money market with help of 97 mln stg in the morning session
illinois tool works inc said it completed the sale of its drill and end mill division pine bluff arkansas and eclipse counterbore division detroit to newly formed eclipse industrial pruducts inc based in st
the countrys current account deficit narrowed to 1069 mln dlrs in october from 79 mln in september and 1175 mln in october 1985
analysts contacted on sunday said the statement does little to clarify last weeks market speculation
it comprised the repayment of 1125 billion francs worth of european currency units ecus 972 billion francs worth of foreign currency and 172 billion francs worth of special drawing rights sdrs the bank said
there has been growing concern that rising internal prices triggered by heavy exports were creating areas of shortage in interior markets
qtly div 1 3 4 cts vs 1 3 4 cts prior pay april 15 record april one
on march 18 the company said it engaged tucker anthony to seek purchasers of its operating units greenville tube corp and md pneumatics inc
the marginal rise reflected slight growth in demand for poultry raising and a moderate increase in demand for beef cattle raising ministry officials said
pennzoil pzl willing to settle texaco tx lawsuit
the iadb has tended to make loans for projects rather than sectoral loans aimed at reforming latin economies and hence has never fully participated in bakers third world debt plan
farm leader raymond lacombe said the union planned to go ahead with a series of major protests both in france and abroad against the ec commissions proposals to overhaul the farm sector
loewy believes the foreign debt problem a good crop plus difficulties with storage would help motivate selling of the brazil soybean crop
dart said under their present agreements none of these officers have any right to such accelerated payments
landmark said it realized a gain of about 11 mln dlrs on the sale
the defendants in the suit are wpp group and its units and peters who until january 29 was a director of j
gold bullion continued to move higher supported by good general buying and was fixed this morning at 43650 dlrs 268368 stg an ounce up from fridays close of 43200 50 dealers said
a company spokesman said the company will take some writeoff in connection with the action in the first quarter and there will probably be a further carryover writeoff in the second quarter
affirmed were the bbb senior debt of chrysler and its unit chrysler financial chrysler financials a 2 domestic and eurocommercial paper chrysler capital realty incs a 2 commercial paper and chrysler financials bbb minus subordinated debt
at a recent meeting in managua of latin american producers costa rica and honduras said they were willing to put their objections as members of the group of eight ico dissident producers aside in order to stem the damaging decline in prices nicaraguan external trade minister alejandro martinez cuenca told reporters saturday
the international sugar agreement isa will be renegotiated international sugar organization iso officer in charge constantin politoff told after a special session of the pacts council
banks total deposits are estimated at around 1000 billion rupees
m corp inc year dec 28 net
the germans clearly do not want to budge an aide to chirac told reporters
japan under attack over trade surplus
federal paper board fbp upgraded by moodys
money supply growth was 114 pct last year
cold and wet weather in northern western and central parts of europe continued to slow beet growth but plant density is reported to be good in most countries sugar statistician fo licht said
the 6000 billion yen economic stimulation package the government unveiled late last month would help slash japans current account surplus by five to six billion dlrs he said
council president george keller who also is chairman and chief executive officer of chevron corp told a news conference that the region had difficulties in persuading companies to locate there because of a fragmented local political system
cargill inc of minnesota also took two shipments totalling 110000 tonnes priced between 9345 and 9465 dlrs per tonne for october 1 15 and december 5 20 delivery
indonesia sees cpo price rising sharply
brokers said several other fixtures were also thought to be connected with soviet grain including a 69000 tonner from taranto for five to seven months at 6500 dlrs daily
i think that more does have to be done there in negotiations with the countries involved the so called nics newly industrialized countries he said
zimbabwe was granted an export quota of 8100 tonnes of high grade beef to ec markets in 1985 after the country had spent millions of dollars erecting disease control fences and upgrading abattoirs to meet stringent ec rules
exports in february also in value terms totalled 4256 billion marks 05 pct less than in february 1986 but up 13 pct compared with january
ford will invest 12 billion dollars in europe in 1987 and a total of seven billion over the next seven years he added
this is the first dividend payment since 1981 the company said
pesch through its alpha health systems corp unit offered to acquire the 36 pct of republic health stock that it does not already own
its commercial paper was affirmed at a 111 1plus
a 322 billion dlr offer for dome petroleum ltd dmpmo by transcanada pipelines ltd trpto may short circuit domes restructuring plan and open the door for more takeover bids oil analysts said
but poehl said west germany now faced a difficult dilemma over monetary policy
zambia will retain its foreign exchange auction system despite the suspension of weekly auctions since january 24 president kenneth kaunda said
however it added in a statement that the company made major capital gains on sales during the year in particular from the sale of genstar shares
denpac corp dnpc year loss
second the usda announcement said 60 mln dlrs of a previously announced 60 mln dlr line for tallow under gsm 102 was available for both public and private sector importers
the sources said sudan hit by a slump in export earnings and remittances from expatriate workers had an annual debt liability of nearly 900 mln dlrs but set aside only some 200 mln dlrs to service debts in the fiscal year ending next june 30
bancroft said its board continues to recommend that stockholders not tender their shares to zico a british virgin islands company which it said had ties to south africa
in its report on export markets for us grains the department said with the deregulation of the new zealand wheat board which normally imports wheat from australia there is the possibility of wheat purchases from the united states since the shipping cost between new zealand and the eastern coast of australia and the west coast of the united states are about equal
mcfarland energy inc said its board and that of petrominerals corp have approved a definitive agreement for mcfarland to acquire petrominerals in an exchange of stock
he added that federal reserve board chairman paul volcker has also been very outspoken in suggesting main trading partners grow as fast as they can
it earlier forecast that its current account surplus could reach eight billion dlrs this year
defence officials said kuwait had asked if protection for up to a dozen vessels most of them tankers could be provided by three us navy destroyers and two frigates now in the southern gulf and the gulf of oman
the us official who asked not to be identified said brazil and colombia may flood the coffee market in the next few months in an effort to drive down prices and pressure other countries particularly the splinter group of small producers who differed with the major producers in london
us farm programs help canadian corn producers
it also calls for reduction of farm subsidies
the elevator operated by archer daniels midland co
in a press release rep
world seaborne iron ore imports will fall sharply by the year 2000 with declining imports to the ec and japan only partially offset by increased demand from south east asia a report by ocean shipping consultants said
all the shares being repurchased amount to about 25 pct of king worlds stock
consumer groups are politically weak and tend to accept the traditional view that higher prices are a small fee to pay for national food security they said
santa anita realty sar quarterly dividend
exports in 1985 86 at 1241 vs 1241 last month
iraq informed the 37 banks in the loan syndicate last september it could not meet the remaining four principal repayments totalling 285 mln dlrs and missed the first of these for 7125 mln due on september 29
qtrly div 26 cts class a vs 12 cts qtrly div one cent class b vs nil pay may 15 record march 31 note prior qtr pro rated on 45 day basis for abbreviated qtr
benigno said the first two phases would complete the transfer of rice and corn lands and abandoned farmland as well as the transfer of land sequestered expropriated or foreclosed by the government and would cover 115 mln hectares
the european community ec yesterday warned japan and the united states its main trading partners that friction over trade issues is affecting the ecs relations with both countries
the developer indicated in those talks that he took the position as an investment but he revealed no other plans
koo said the loans would be repayable in foreign currency
a total of 15 billion dlrs in government guaranteed export credit debt obligations are due to mature in two years
the philippines meets the first two criteria but not the third
new zealands official foreign reserves fell to 715 billion nz dlrs in january from 720 billion dlrs in december and compared with 303 billion a year ago period the reserve bank said in its weekly statistical bulletin
group raises scandinavia fund scf stake
chinas industrial output rose 141 pct in the first quarter of 1987 against the same 1986 period the peoples daily said
data med clinical support dmcso 1st qtr loss
banks in hong kong are likely to raise prime rates by half a percentage point to 6 1 2 pct following a one quarter point prime rate increase by two major us banks yesterday dealers said
frost and sullivan inc frsl 2nd qtr jan 31
this is entirely a private sector matter and not a matter for governments comment tamura said
it said the offer was made by members of the beerman family holding about 70 pct of the companys stock chairman max gutmann and certain members of the board
we already have an agreement which may need only a slight review lukman said
sallie mae prices short term floating rate notes
it also noted that aircraft engine operating profit was much higher than a year ago caused by a increase in shipments than the 1986 quarter which was impacted by a strike
copra meal exports were 817641 tonnes or 35 pct of total coconut exports in 1986
most analysts said that although the low gravity of the oil found would require additional costs in recovery the test well showed that it flows well
bank of france sells tap stock
interest is based on average state bond yields tme with a margin of less 024 pct on the basis of tme at 845 pct
the issue is callable at 106 pct declining by one pct per annum to par thereafter but is not callable until may 7 1993 unless the share price exceeds the conversion price by 130 pct or the issue is more than 95 pct converted
holly sugar corp hly sets regular dividend
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
in addition she said many of those nations are faced with serious debt and need to sell coffee to raise capital
uae government paper yields unchanged
it cited a continued emphasis on new product development advances in cheese and edible oil technologies further adaptation of tamper evident packaging and continued development of consumer battery technologies
the spokesman said it was too early to predict whether the move would herald a reduction in discount rate which currently stands at eight pct when the bank holds its regular weekly meeting at which the rate is discussed next wednesday
the advances however were offset by a deceleration in household demand
sterling dipped to end at 2952 956 marks after 2960 965 last night
in a separate letter sent to senior us officials miti vice minister for international affairs makoto kuroda suggested the two countries could conduct a joint investigation into allegations of japanese chip dumping in such markets
williams wmb has 4th qtr charge
the market will determine the dollars proper value in the end yeutter said
officials at salomon first boston and merrill lynch were unavailable for immediate comment
chilis inc said it filed with the securities and exchange commission a registration statement covering a 35 mln dlr issue of convertible subordinated debentures
salomon brothers inc said it raised its opinion on caterpillar incs stock to an aggressive buy from a hold because of a brighter earnings outlook for 1988
digigraphic systems corp 4th qtr oper loss
the diversified chemical and industrial company said the sale completes its program to divest retail operations
floods and avalanches killed 110 people and caused around 350 mln roubles worth of damage in the southern soviet republic of georgia earlier this year the government daily izvestia said
the sources said the measures were a further attempt to rein in money supply and were likely to force some institutions to scramble for funds before the 10 day accounting period for reserve requirements closes on monday
gros said the decision which he called a standstill arrangement will be communicated to brazils 700 bank creditors by telex tomorrow
a sharp fall in the dollar price of zinc and the depreciation of the us currency created unfavourable economic conditions for vieille montagne sa vmnbbr in 1986
venezuela to lend ecuador 50000 bpd of crude
rickels a home center business has faced problems due to the state of that industry and has reported lower returns as an operating unit according to analysts
this compared with an 897 mln dlr shortfall a year earlier
the split shares will be distributed on june 29 to shareholders of record may 13
it also asked for a reduction in the repayments it was due to make in 1987 1988 and 1989 after an earlier request that it make no amortizations at all in those years was rebuffed and sought a commitment from the banks to finance new investment in venezuela
harper had no response to harcourts announcement
1985 4th qtr and year net includes 51 mln dlr and 134 mln dlr provision respectively for possible losses
uk feb retail sales rise provisional 22 pct jan fall 22 pct official
the japanese delegation to the gatt talks said in a statement yesterday they are making major efforts to dismantle trade barriers in their country
they said that if it stabilizes near there banks may not quickly boost their prime rates
the central bank began signing contracts by which it will provide dollars at a preferential rate for the payment of 78 billion dlrs of foreign debt under a new plan announced last december
the dollar ended in new york yesterday at 14715 25 yen its lowest level against the japanese currency in roughly 40 years
loblaw cos ltd said it agreed to sell 75 mln dlrs of 10 pct debentures series 8 due april 15 2007 to investment dealers burns fry ltd and mcleod young weir ltd
in the previous auction for 1000 billion yen the four majors took 92 pct of the issue to increase their tankoku inventory the managers said
the probe began in february 1986 allegheny said
the company said its magna car dominated its market segment with sales of 30500 units against 26900 in 1985
despite intensive exploration in the early 1980s the addition to reserves has been inadequate he said
investments will be aimed mainly at developing the groups leisure industry health and communications activities monod said
about 371 mln dlrs was distributed to 160253 emplyees
vipont laboratories inc said the canadian bureau of non prescription drugs approved its viadent toothpaste and oral rinse for marketing
chrysler further said it is offering special 500 dlr checks only to patrons of the 1987 new york auto show good toward the purchase of chrysler lebaron coupes plymouth sundances dodge shadows and dodge daytonas
everything we are doing is to manage our cash flow and we are using that to manage our debt
interim div 26p vs same
japan consumer prices fall 04 pct in january
panteras also said it retained drexel burnham lambert inc to act as its financial advisor in connection with the merger
nine month pre tax was 151 billion stg against 135 billion
as one banker put it many banks took the view it was better to get some money back rather than none at all
federal funds which averaged 597 pct yesterday opened at six pct and remained there in early trading
total general government receipts for 1986 87 are now estimated to be 1592 billion stg 275 billion more than the 1986 budget forecasts and above the autumn statement forecasts despite a shortfall of 125 billlion in oil receipts
fringe soybean acres in the southeast and some bean acreage in the midwest are also expected to be taken out of production but the usda source said this would be a relatively small percent of the total
the pgrt cut helped brake the steep profit and cash flow decline in 1986 for many oil companies and prevented further exploration spending cuts analysts said
but if there are too many constraints placed on a subsidy offer the ussr will take less than an anticipated four mln tonnes he said
advocates of a 0 92 plan for feedgrains will likely delay offering their proposals if a disaster aid bill before the house agriculture committee is scaled back to include only 1987 winter wheat congressional sources said
holiday corp hia comsat cq close sale
the dividend of 20 cts a share an increase of five cts over the prior 15 cts a share on pre split shares is payable june 12 to holders of record may 22
agriculture minister achmad affandi in written remarks distributed today as indonesias 14 foreign donor nations met at the hague said the general argument presented by the bank for this free trade open economy view is weak the bank called for overhauls in how indonesia manages the largest farm area in south east asia and said agricultural growth was stagnating under subsidies for rice farming
slough estates plc sloul said it views the prospects during 1987 with confidence
of this total 85 mln sdrs can be drawn over the next 15 months under a standby arrangement in support of the governments economic and financial program
todays foreign ministry statement carried by the kuwait news agency kuna said the recent detention of kuwaiti fishing vessels by iran was not the first
the purchase price includes 125 mln dlrs in cash and company stock it said
the investment banking firm said another series of variable money market cds is planned for april
merrill is offering 4850 dlrs per share cash for 89 pct of borg warner and a package of cash and securities for the balance
there will be a facility fee of 10 basis points and utilisation fees of five basis points for up to 33 pct 75 basis points for between 34 and 66 pct and 10 basis points for the remainder
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
gus has received irrevocable undertakings to accept the offer in respect of 391 pct of pantherella shares from the companys directors and their families
stanley works swk sets quarterly
last year taiwanese breakers demolished a record 344 vessels totalling 369 million light displacement tons ldt up on 165 of 297 million ldt in 1985 lin chung jung a taiwan shipbreaking industry association tsia spokesman told 
advo system inc advo sees break even 2nd qtr
the company said a drop in 1986 full year operating profit to 1501 mln dlrs from a restated 2527 mln dlrs in 1985 was due mainly to lower world oil prices
seasonally adjusted the february current account surplus narrowed against january
this is certainly a reason for heightened watchfulness but not for stimulative steps he said
it said tampa operations of lowe are not involved in the sale
toronto dominion bank nassau branch has increased its eurobond offering to 50 mln australian ltdlrs from 40 mln lead manager hambros bank ltd said
its not a high quality investment situation yet but theyve come a long way he said
no price was given for the deal
foote mineral co in letter of intent to merge into rio tinto zinc
us sales now account for 65 pct of total turnover finance director john edwards said
edelman and his group said his terms held until the earlier of 90 days from march 3 or the date on which morse announces a definite agreement for its sale
woolworth underwoods fail to agree on bid
this compares with 1229 mln stg pretax profits and a net 81 mln on property sales the previous year
richton international corp rihl 3rd qtr jan 31
cohn said the bank stocks may be risky until numbers on non performing loans are reported for each bank
we are making efforts to eliminate them with the help of balanced interest from all parties he said
south africa must drive down its inflation rate to much lower levels to prevent a further decline in the rand said volkskas bank in its monthly economic review
the new tariffs to go into effect on april 17 are in retaliation for japans failure to adhere to an agreement to end dumping semiconductors in world markets at below cost and to open its home market to us semiconductor shipments
company stocks on land in the oecd rose to 326 mln tonnes on april one this year compared with 316 mln tonnes in calender 1986 while governments also built up their strategic stocks to 102 mln tonnes against 97 mln in 1986
the american consumer has little reason to feel confident about the safety of meat and poultry being offered to him today said rodney leonard executive director of the community nutrition institute
saudi arabia is now keeping production down to defend opecs newly established 18 dlr a barrel benchmark price
the central bank has also lifted the restriction on the amount of foreign exchange loans which previously were limited to three times a banks capital equity
we have talked to a number of our major suppliers and weve discussed the upcoming change with them but nothing has been finalized imperials manager of western crude supply gary strong said
in addition new world pictures ltd nwp holder of 45 pct of harper and row had offered to discuss a merger with harper and row
federal paper board co inc said it has filed for an offering of 140 mln dlrs of cumulative convertible preferred stock or 2800000 shares with a liquidation preference of 50 dlrs each through underwriters first boston inc fbc morgan stanley group inc ms and painewebber group inc pwj the company said it will use proceeds to redeem on june 15 all 125 mln dlrs of its 13 pct subordinated debentures due 2000
demand for some products such as styrene could push profit margins up by as much as 300 pct he said
pacific gas said yesterday that a change in the method for accounting for its diablo canyon nuclear power plant revenues will result in a 470 mln dlr reduction in 1987 earnings
fed may add reserves economists say
its deficit with the european monetary cooperation fund fecom remained unchanged in february at 3390 billion francs
although banks acquired large amounts of public authority paper public authorities drew down book credits at commercial banks and the bundesbank
the planned issue will be of two fixed rate tranches of the 850 pct 1997 and the 850 pct 2002 stock and one tranche of the 1999 variable rate stock
as of 1 april the valuation used under the formula had still to be agreed so oldham had yet to give a firm recommendation to its shareholders regarding the value of the the offer
they brazilian exporters are very interested in the canadian market because its an untapped market brennan told reporters after a speech to the brazil canada chamber of commerce
home savings bank of brooklyn hmsbo 3rd qtr
japan buys 4000 tonnes canadian rapeseed
the net position of federal states worsened in the first march week cutting public authority net holdings at the bundesbank by 500 mln marks the central bank said
year ended september 30 1986
morgan grenfell group plcs morgan grenfell capital management unit said it plans to offer in late april 7500000 shares of closed end fund morgan grenfell smallcap fund at 10 dlrs each
the promising japanese beef market could be one of the bright spots for us agricultural exports said philip seng asian director for the federation
jp morgan and co inc said that brazils recent suspension of interest payments on part of its commercial bank debt may lift its nonaccrual loans this year
if target zones were established this would put pressure on other countries to reduce their interest rates even more even though this may be in conflict with their own domestic situation and priorities he said
holders of convertible subordinated debentures of harcourt brace jovanovich inc threatened to sue the company if they do not get more information about how their investment will be affected by the companys proposed recapitalization plan
s p upgrades union carbide corps 12 billion dlrs of debt
in its final report released earlier the company said the groups 1986 profits before allocations and taxes was 753 billion crowns compared with 1985s 760 billion
tensions in the gulf however usually had a relatively short term impact on prices he added
by including these companies for the single month of december 1986 4th qtr earnings were raised by seven cts per shr and for the year by eight cts per shr
the west german discount rate remains at 30 pct and the lombard emergency financing rate at 50 pct
james voytko at paine webber believes santa fe could fight off the henley group with its cash and credit
shortly after the communique was issued and just as foreign exchange trading opened in tokyo the bank of japan intervened again to prevent the yen rising too quickly
hog and cattle slaughter guesstimates
but the ministers from bahrain kuwait oman qatar saudi arabia and the united arab emirates uae did not endorse a resolution on a common currency exchange rate system
miyazawa says major nations acting on paris accord
one western diplomat said the two institutions had promised big support to help zambia keep its head above water
the quake struck northern ecaudor and southern colombia according to ecuadorean officials
the year on year trend of government stock building is continuing with company stocks rising more or less in line with consumption after declining for five years iea said
mepc issues partly paid eurosterling bond
upon completion of the transaction infinity will own nine fm and four am stations in 10 major markets
shr 29 cts vs nine cts net 651000 vs 214000 note 1986 net includes loss of 500000 dlrs for extraordinary item
more gold detected at doyon mine
he said the treasury did not expect the action to have an adverse effect on us issuers of the bonds because the general decline in interest rates means they will be able to refinance at lower interest rates
also the recipient countries would have to prove that the production marketing and export of the commodities could be handled without government subsidy
he said the latter two tranches were less strongly oversubscribed
shr diluted loss 31 cts vs profit 17 cts net loss 2806005 vs profit 1513395 revs 150 mln vs 104 mln avg shrs diluted 8982754 vs 8804899 note current year includes loss of 34 mln dlrs from takeover defense expenses
us commerce secretary sees higher gnp growth
a fed spokesman told a press briefing that there were no large single day net misses in the feds reserve projections in the first week of the latest bank statement period
bankers trust bt 3rd qtr net
aflatoxin comes from moulds which develop in copra when it is not properly dried or ground
ipco corp ihs sets regular payout
ultimately congressional sources said the agriculture committees may be forced to apply an across the board cut on all commodity credit corp
a spokesman for morgan declined to comment and referred inquiries to chrysler
the reagan administration is debating whether to provide government credit guarantees for the export of plywood a us agriculture department official said
the company said mdc has an option to convert winley preferred stock into 20 pct winley common in a year
he repeated an earlier projection that third quarter earnings will probably be off slightly from last years 40 cts a share falling in the range of 34 cts to 36 cts a share
the sale was announced earlier today in australia
as of march 27 dixons group plc had acquired more than 80 pct the stock under an increased tender offer
active soymeal export loadings at the gulf had pushed soybean futures and premiums higher prompting a pick up in the weekly crush number
the inflation rate of one pct also gave no occasion for higher nominal interest rates
rjr nabisco inc is raising 500 mln dlrs via an issue of sinking fund debentures due 2017 yielding 8 3 4 pct said lead manager shearson lehman brothers inc
shr 111 dlrs vs 110 dlrs shr diluted 103 dlrs vs 102 dlrs net 8186000 vs 8114000
speaking briefly to reporters following an address before the export import bank conable said that the bank had been urging the brazilian government to come up with a specific plan designed to work the country out of its present economic difficulty
theres no question that there will be a sharp decrease in corn acreage one said
it also wants outside partners to take up to 50 pct in the project the company said
kampuchea harvested more than two mln tonnes of rice paddy in 1986 up on the crops of the previous two years the official spk news agency said yesterday
fidelcor ficr completes sale of unit
us district court judge eugene a
ganapin said three billion dlrs would be needed in the next two years alone to save five mln hectares of critically denuded land in the philippines
walters added that it also felt that due to management changes in 1986 standard could now operate successfully even in a lower oil price environment
there is no m 1 target
david haggard american soybean association asa president said usda must make changes in the soybean program
subscription is from march 24 to 30
us first time jobless claims rose in week
the bank of spain raised overnight call money rates by 1 4 to 14 pct on demand for 746 billion pesetas in todays auction which a bank spokesman termed heavy rates stood at 121 pct at the start of the year and have been increased to drain liquidity on rising demands for funds the spokesman said
far west industries inc year net
texaco canada raises crude oil postings 24 canadian cts bbl light sweet now 2560 dlrs bbl
harcourt brace sets march 30 deadline in harper and row bid
i think it is friendly for the market at least in the long run she said
next years apc held in atlanta will be a business session only and will continue to be the first week of march
terms were not disclosed and the galaxy did not identify the buyer
we have informed washington of our intentions and weve already been an integral part of ownership of us oil reserves he pointed out
montreal trustco issues canadian dollar eurobond
wagner said the exact timing of the move depended on the state
the shorter leading indicator signalling trends six months ahead was put at 971 for january the latest month for which data were available after decembers 965 this compared with 984 in january 1986
shipment will be from the gulf or great lakes if us origin they said
as i said at a time of louvre agreement the expression of current level is rather vague idea he said
about 1900 notes with a total face value of 19 mln dlrs and a market value of about four mln dlrs have been identified so far the company said
in particular they discussed brazils debt moratorium
the government does not wish to increase output much above this because of low world prices and the land would be better used for other crops
dominion textile last year made an unsuccesful 104 mln us dlr bid for avondale mills and has maintained a 120 mln us dlr line of credit to be used for an american acquisition
ccc credit guarantees for rice to algeria usda
quotas should end for crude throughput and gasoline output and oil tariffs should be abolished
if these succeed activity could build the specialists said
snow reached from south central montana across wyoming western nebraska and western kansas
the partnership requested that if any other proposal is under consideration that it be given the same information available to gencorps managers and advisers in constructing a proposal
further purchases of usair stock would require the approval of the department of transportation twa said
icco buys 5000 tonnes cocoa for buffer stock
bank of ireland seeks 300 mln stg cd facility
burdensome supplies have pressed the market down from 130 dlrs a pound in february when the organizations discussions aimed at re establishing export quotas broke down
two to 22 mln hectares have been planted with sunflowers for this harvest down 299 to 363 pct from last years figure of 314 mln hectares
a steep drop in goods producing jobs detracted from us march non farm payroll employment and makes it unlikely that the federal reserve will tighten monetary policy to defend the dollar economists said
lanston and co
the insurance holding company had net earnings of 4496 mln dlrs or or 742 per share in 1986
quantech also said bernard weinblatt has rsigned as president and a director and until a replacement is found ginsberg will act as chief executive and leonard n
urging the administration oppose the canadian decision to apply a duty on us corn imports and a proposal by the european community to apply a vegetable oils tax
oper shr 26 cts vs 16 cts oper net 948000 vs 480000 revs 254 mln vs 199 mln note excludes loss of 67 mln dlrs or 182 dlrs shr vs gain of 453000 dlrs or 15 cts from discontinued operations
it said the group was sold october 15 for 135 mln dlrs to maxtec international corp a privately held company created by the companys management team
grace said the transaction involves the combination of its cocoa products division and two berisford cocoa processing units which would be operated under grace management
management offered 3850 dlrs in cash exchangeable preferred stock worth 850 dlrs and a fractional share of convertible preferred
sight deposits are a major indicator of money market liquidity in switzerland
but high monetary stocks can be a warning sign and there should be no change in priorities
current year figures include 51 mln dlr incrase to reserves for estimated real estate and loan losses
shr 30 cts vs 17 cts shr diluted 30 cts vs 17 cts net 3454000 vs 1546000 sales 840 mln vs 592 mln avg shrs 116 mln vs 8917000 avg shrs diluted 117 mln vs 112 mln nine mths shr 91 cts vs 72 cts shr diluted 90 cts vs 65 cts net 105 mln vs 5959000 sales 2367 mln vs 1689 mln avg shrs 115 mln vs 8227000 avg shrs diluted 116 mln vs 112 mln
separately the company said that a cray x mp 24 system valued at 85 mln dlrs was installed at lockheed missiles and space co
the oecd predicts a similar combination of modest economic growth and rising unemployment for new zealand which is struggling to recover from a major economic crisis
the senior government official said the fourth quarter performance of the domestic sector was probably worse than generally expected while that of the external sector was better
hertz realty issues 75 mln canadian dlr eurobond
the partnership said the dividend is greater than it had expectd to pay and was warranted by fourth quarter results and anticipated results for this years first quarter
swiss 1988 inflation seen at two pct institute
us refiners will have to reduce operations if they want to be profitable this year said industry officials attending the national petroleum refiners association meeting here
the international cocoa organization icco buffer stock manager bought 5000 tonnes of cocoa today for the buffer stock traders said
they ferris and trump talked last week
the company created last october with initial equity of 400 mln dlrs is owned equally by the equitable life assurance society of the us and hospital corp of america hca financial results for the first six months of the companys operations were not disclosed
jacobs told he sold the gillette stake which he called substantial but under five pct a few weeks ago over a period of several days
affiliated publications inc afp sets payout
usda said the bill would discourage farmers from buying crop insurance and fall short of the administrations proposed broad scale revision of farm programs
in addition quarto will pay a dividend to north american coal of about 10 mln dlrs from retained earnings before closing
the smelter near frankfurt had annual capacity of about 44000 tonnes but was operating at about half that in january spokesman fernand leclerc said
last year it lost 1079000 dlrs on revenues of 720000 dlrs
each warrant priced at 955 swiss francs entitled holders to acquire five ounce bars of 999 gold in the period from april 30 1987 to july 31 1991 exercisable on wednesdays
net new deposit withdrawals were up to 22 billion dlrs from 19 billion dlrs in december
le soir daily quoted cger vice president paul henrion as expressing strong opposition to the privatisation of his bank
colonial had assets at year end of about 150 mln dlrs
indonesia a country of 168 mln people has responded to the oil slump by cutting spending devaluing its currency by 31 pct and trying to boost exports while using foreign loans to bridge its deficit
our company is shopping around because we feel its substantially less risky than pure exploration
in looking ahead to the us treasury mini refunding auctions of 2425 billion in t notes on tuesday wednesday and thursday singer said the market will likely greet the results with little excitement
it was concern about credit growth which prompted the bank of england to engineer a one point rise in uk bank base rates to 10 pct in early august caution endorsed subsequently by news of a massive 49 billion stg july rise in bank lending
black added that hollinger would also continue seeking acquisitions of daily newspapers with circulation under 25000 readers
withdrawal would give the appearance of being chased away by iran which president reagan could never accept
if that happens natural gas will also regain some of the market share it lost to heavy fuel in 1986 and there may be slightly less growth in transport fuels
caecl issues 12 billion yen eurobond
this brings the banks total assistance so far today to 243 mln stg
note companys full name is the burmah oil co plc burml m
the issue is guaranteed by parent company landesbank rheinland pfalz girozentrale which is jointly owned by the west german state of rheinland pfalz and local savings banks
now the correction of that 1981 mistake demands that the system change a lot penner sees little hope the gramm rudman hollings budget deficit reduction targets will be met and said the deficit will remain at roughly 200 billion dlrs this year
at the same time rules prohibiting corporations and non stock exchange members from holding more than 50 pct of australias 101 brokerage firms were abolished leaving brokers exposed to greater deregulation
there are signs the brazilian situation and a reluctance by commercial banks to join in new cash loans even for debtors following substantial reforms has concerned us officials
march prices fell in german state on year ago
for the 12 months ended 31 march 1986 cleveland had 479000 dlrs in pretax profits and forecasts one mln for 1987
the debentures have an 8 1 2 pct coupon and were priced at 99 to yield 97 basis points over the off the run 9 1 4 pct treasury bonds of 2016
the bank has repeatedly signalled its intention to prevent dealers from cornering the market in a stock issuing additional stock on occasion to end a market shortage
other countries could be added to the list
in a novel type of financing texas instruments inc marketed a three part 225 mln dlr issue of convertible money market preferred stock through shearson lehman brothers inc as sole manager
prior to the split the company had paid 31 cts quarterly
nova owns 43 pct of husky oil ltd hyoto blair also said that nova has made no decision as to whether it would want to be lead partner in a joint purchase of dome
that meeting was called to act on a merger agreement calling for a buyout by bcw acquisitions inc
kdi corp kdi 1st qtr march 31
the rate was up from 568 pct at the last auction of one year bills on march 12
cargo handling in the ports has been disrupted with container movements most affected but has not stopped altogether they said
bundesbank leaves credit policies unchanged
it said gas reserves rose to 88 mln cubic feet from 83 mln on dec 31 1985 as discoveries of nearly 13 mln cubic feet were partialy offset by production of 287391 cubic feet and downward revisions of previous estimates totaling 491694 cubic feet
perus state minerals marketing arm minero peru comercial sa minpeco lifted a force majeure on zinc ingot shipments from the countrys biggest zinc refinery at cajamarquilla a spokesman said
but price increases slowed sharply for gasoline and home heating oil the department said
lord abbett and co declares mutual fund divs
also the company faces a higher tax rate
shr nil vs loss two cts net profit 2900 vs loss 43500 revs 1660300 vs 950000 12 mths shr loss 30 cts vs loss 37 cts net loss 578900 vs loss 713300 revs 5112100 vs 3659600
tigrel said a surge in public sector spending last year was also to blame for the high deficits
it also said it would seek 125 billion dlrs from the sale to shearson lehman brothers holdings inc or its affiliates of senior subordinated promissory notes
campbell red lake crk sets quarterly dividend
the operation will raise the outstanding supply of the bills to a record 4800 billion yen
ici the worlds fifth largest chemicals firm in terms of sales recently reported 1986 profits of about 888 mln dlrs on 15 billion dlrs in sales compared with income of 817 mln dlrs on 1587 billion dlrs in sales a year earlier
fed says it sets 15 billion dlrs of customer repurchase agreements
to be eligible under the new seed credit guarantees all sales must be registered by september 30 1987 and shipped by december 31 1987 usda said
the us department of transportation said it gave final approval to usair groups proposed 400 mln dlr acquisition of pacific southwest airlines
oper shr 28 cts vs 116 dlrs oper net 194000 vs 1255000 sales 275 mln vs 305 mln year oper shr 268 dlrs vs 63 cts oper net 1880000 vs 684000 sales 1005 mln vs 1156 mln avg shrs 700086 vs 1079165 note 1986 net excludes tax credits of 1042000 dlrs in quarter and 1603000 dlrs in year
last years temporao also hit by a dry spell was 277 mln bags
california energy co inc said it negotiated a 160 mln dlr private financing with drexel burnham lambert inc
japanese official takes data to microchip talks
gros said that during their 12 day globe trotting tour of several countries he and finance minister dilson funaro warned creditors that brazil could no longer continue representing the role of merely an exporter of capital
last year its members purchased about 45 billion us dlrs worth of industrial products from japan and about 18 billion from the us the spokesman said federation members were now discussing the volume of business they could transfer to america
but the banks saw in warrants the vehicle for a more highly leveraged play where the downside risk was limited
increasingly traders say firms maintain separate profit and loss sheets for their london operations so that trading decisions can be made independently from the us headquarters
the nairobi sources said the pakistani decision did not come as a surprise as pakistan had been complaining of the trade imbalance for some time
barry cameron smail commercial unions treasurer said the new financing will not increase its debt outstanding but rather act as an umbrella for all its financing needs
members of geodynes senior management also serve as senior management at snyder and painewebber group inc pwj which owns 40 pct of geodynes 126 mln outstanding shares has a substantial equity interest in snyder
singapore traders said sellers might now aim for gsps at least
under current law the 1987 soybean loan rate cannot be less than 477 dlrs per bu
ended march 1 shr 34 cts vs 27 cts net 2405000 vs 1908000 revs 335 mln vs 326 mln avg shrs 7114000 vs 7075000
kentucky central to declare stock dividend
oklahoma cleaning up after week of floods rains
australian metal trader links to asturiana de zinc
the company said it is drilling a new exploration well on the block southeast shiviyacu 1 25 miles away
struthers added that it has filed with the securities and exchange commission for an extension to file its annual report on form 10 k as a result of delays caused by the restructuring
itts itt hartford unit posts 4th qtr gain
there is nothing apparent from the change said william oneill director of futures research at elders futures inc
telecom tele says sale closing delayed
beazer said it will use proceeds initially to reduce debt and then for acquisitions and capital spending
national australia bank ltd nabas said it lowered its benchmark prime lending rate to 1825 pct from 185 effective today but left its base rate at 185 the benchmark reduction brings the rate into line with the prime rates of most of australias trading banks including those of two of the other three major trading banks
the company did not disclose the details of the revised offers but said a special committee of its board would review them later today
the company said it does not plan to offer common shares this year or in the foreseeable future but expects to raise about 40 mln dlrs in equity through the sale of stock under its dividend reinvestment plan and employee share plans
they said the ministry had telephoned city and long term banks earlier this week to make the request
at this level of the stock market there is more of an advantage to being in long term bonds than in equities given our interest rate scenario corchard said
talking will not stop the dollars slide for long and the february meeting of finance ministers of the group of five and canada produced scant promise of either a decisive shift to more expansive policies in west germany and japan or a tighter us fiscal policy it said
my criteria for a good amendment sets a standard for getting the trade deficit down he told reporters
penteco east is a gas gathering and transmission system in southern kansas and northern oklahoma
the suit grew out a meeting of several dozen dissatisfied minority stockholders of avia following the announcement of reeboks proposed acquisition of avia and the sudden drop in the price of avia stock
the trade deficit for 1986 was 2012 billion dlrs 257 pct higher than in 1985
harcourt brace jovanovich inc said it has told harper and row publishers inc representatives that it intends to withdraw its proposal to acquire harper and row for 50 dlrs per share in cash if the parties have not made satisfactory progress in discussions by the close of business on march 30
philippine senate acts to speed debt pact
he said if the congress makes retaliatory action mandatory then the united states would be in violation of its international legal obligations and on a collision course with its major trading partners denman added that a president should have flexibility in enforcing trade laws saying in the last resort any administration must take its decision in light of the overall national interest otherwise he said the risk would be counter reaction by trading partners of the united states ie retaliation or enactment of mirror image legislation to be employed against imports from the united states denman also said congress could prompt retaliation if it reduced the threshhold of unfair trade by making it easier for firms to file unfair trade practice claims
under the agreement modulaire stockholders would receive 16 dlrs in waste management stock for each modulaire share
british prime minister margaret thatcher said she and soviet premier nikolai ryzhkov had set targets for increased trade between the two countries during talks earlier today
pitney bowes pbi unit sells five year notes
in finland and sweden up to 50 vessels were reported to be stuck in the ice and even the largest of the assisting icebreakers were having difficulties in breaking through to the stranded ships coastguard officials said
dow dow raises styrene butadiene latex prices
last fall afg and wagner and brown offered to acquire lear siegler inc for about 144 billion dlrs but withdrew the offer when higher bids emerged and due to complications of the tax reform act of 1986
andrew shoup chairman of dallas based sabine predicted that world oil prices would increase from a range of 15 to 20 dlrs a barrel in 1987 to a range of 17 to 22 dlrs a barrel in 1988
delhi said the remaining objective of the well is the patchawarra formation
right now we are trying to solidify the group and bring it together under one group ghirardi said
in the meantime bankers expect further pressure will be exercised on the regional banks and the major us banks to find a solution to the problem
nondurable manufacturing eased to 852 pct of capacity use from 854 pct in january
he welcomed frances recent proposals to the paris club of western government creditors to extend repayment periods for third world debts and give better rescheduling terms
indias state owned oil india ltd oil said it received a 35 billion yen credit under an agreement signed with dai ichi kangyo bank of tokyo last week
qtly div 25 cts vs 25 cts prior pay may 15 record april 15
all of the gas reserve purchases as well as all of the 14 mln barrels of oil reserves bought in 1986 were in the united states amoco said noting it has spent 11 billion dlrs to acquire us producing properties over the past three years
domes debt troubles have often obscured the fact that it is a major player in the canadian oil and gas field
stanley interiors sthf says results reduced
the company said prepayment provisions will make the average life about seven years
that price increase which president kenneth kaunda later revoked followed pressure by the international monetary fund imf to reduce the governments subsidy bill
panhandle eastern chairman rl oshields said settlement payments of 247 mln dlrs plus releases and waivers of gas purchase obligations since 1982 had reduced the companys take or pay exposure
newhall investment properties nip payout
smith international inc sii 4th qtr loss newport beach calif
syndication deadline has been extended to march 20 from today to allow banks more time to consider the facility
finance minister kiichi miyazawa told a parliamentary committee he expects major nations to reafffirm the currency pact they struck in paris when they meet this week in washington political sources said
shr 595p vs 441p div 225p vs 20p pre tax profit 116 mln vs 91 mln tax 42 mln vs 36 mln turnover 2563 mln vs 1853 mln note company said it was unlikely second half profits will show same rate of increase as first
tofutti brands inc said it is changing its fiscal year to a calendar year from a year ending july 31 and it expects to be profitable on higher sales in 1987
minister of state for finance tom hockin said he has asked the canadian bankers association an industry lobby group for an explanation of the level of credit card interest rates
louvem plans option to buy back own shares
it was schmidt who as chancellor appointed poehl to his present job in 1980
saudi arabian oil minister hisham nazer said opecs december agreement to stabilize oil prices at 18 dlrs a barrel was being implemented satisfactorily and there was no immediate need to change it
ny business loans fall 222 mln dlrs in march 18 week fed says
delegates to the american pork congress will decide whether or not they want mandatory production controls when they vote on the official pork producer policy wednesday the national pork producers council said
woolwich building society issuing 50 mln stg bond
last week rj reynolds announced the sale of four smoking tobacco brands
glickman noted that the agriculture committee must cut one to 15 billion dlrs from its fiscal 1988 budget and therefore must fit any soybean program changes into the overall budget
the company said the agreement provides an additional 100 mln dlrs of credit that may be borrowed by the company or used to cover the issuance of new letters of credit
we have committed ourselves to reestablishing the normal functioning of the system eyskens said
gros speaking to reporters yesterday after his first meeting with brazils bank advisory committee since he was appointed last month also promised a clear statement of brazils economic policy would be made in the next few days
the 35 billion dlrs maximum which may be raised under the development loan bill 1987 against a ceiling of 15 billion under current laws is expected to satisfy demand for government securities over the next four years hu said
kuwaiti tankers have come under repeated iranian attack
he recommended congress not lock the administration into formal procedures for international exchange rate negotiations to achieve specific exchange rate goals
shr profit three cts vs profit one ct net profit 129082 vs profit 36099 revs 3864187 vs 1875919 nine mths shr loss six cts vs profit two cts net loss 303581 vs profit 110311 revs 9517242 vs 5248105 note prior qtr and nine mth figures include extraordinarycredits of 15000 dlrs and 48000 dlrs respectively
alleghney international inc said the plaintiffs in the existing lawsuits opposing its sale requested an amendment to their complaint to include a class action count
we have been considering the move for quite some time now and the current strength of the eurosterling sector provided the perfect opportunity and spur for us to finally tap the market lance moir corporate treasurer at storehouse plc told
qtrly div 415 cts vs 415 cts prior pay may one record april 6
he added preliminary indications for first quarter 1987 revenues were favorable
chi chis posted a third quarter loss of 10 mln dlrs including a 20 mln dlr pretax loss from the disposal of 21 company owned restaurants as part of a restructuring plan the rating agency noted
the algerian authorities have regulated the addition of chickpeas and barley used to make imported coffee go further the official aps news agency reported
varity vat expects 4th qtr full year loss
key to this growth was the successful introduction of new products which were greatly enhanced by a number of consumer oriented us acquisitions van driel said
it seems to me it is not in the interests of either country to get in an escalating conflict
british aerospace plc baell 1986 year
suralco offers cash for workers to leave
shr 57 cts vs n a net 7222000 vs 6959000 nine mths shr n a vs n a net 176 mln vs 248 mln assets 27 billion vs 23 billion note year ago per shr amts not available as bank converted to stock ownership june 24 1987
his amendment called for the government to sell gold coins and gold backed bonds with maturities of 30 to 50 years to investors to reduce the federal debt
managers are dresdner south east asia ltd mitsui trust and banking co ltd and the uco bank
symbol said it issued 550000 of the warrants to reliance in 1985 exercisable at 950 dlrs per share and 60000 in mid 1986 at 14 dlrs per share
if japan for example does not reduce its barriers by mid 1988 the united states would set import quotas or tariffs to cut japanese surplus by ten per cent a year for three years
cyacq offers to raise cyclops buyout to 9250 dlrs shr from 80 dlrs
geneen and donaldson lufkin and jenrette securities corp
if this pressure keeps up there is a possibility that rates could drop before the budget said jeremy hale economist at finance house goldman sachs international corp
the junk bond market experienced a short lived downturn last summer when ltvs bankruptcy filing sparked worries that credit conditions of other steel companies would also worsen
american telephone and telegraph co said it has a new version of docuforum a software product used to review revise and transfer documents electronically
the delegations to the conference are headed by hernandez of venezuela energy minister javier espinosa of ecuador energy minister kelvin ramnath of trinidad tobago jose luis alcudiai assistant energy secretary of mexico and energy minister guilermno perry rubio of colombia
the issuer has an option to increase the sinker by 200 pct giving the debentures an estimated average life of 215 years salomon said
citicorp cci savings extends california reach
widespread domestic price rises in response to rising import prices would generalize the inflationary forces emanating from the foreign trade sector and might not gain more market share for us producers
its a very large company and its being sold for 50 or 60 mln dlrs said gardner in a telephone interview with 
the non callable bond is available in denominations of 1000 and 10000 australian dlrs and will be listed in luxembourg
the suit also charges the offer is illusory and designed to manipulate the market in caesars world stock to enable sosnoff to sell the caesars world stock he already owns for a substantial profit
house lawmakers noted that in 1985 the united states took steps to reduce loan rates committee staff said
first marathon securities ltd analyst rick hallisey said the size of the loss was slightly larger than industry estimates of domes negative net worth ranging between 150 billion and two billion dlrs
gencorp rejects unsolicited takeover bid from afg industries wagner and brown
saudi arabia buys 5000 tonnes rbd palm olein
new orleans guanta 9387 mt bulk hss 3000 13 days 25 4 5 5
malaysian miners say us selling too much tin
gosper said the results reflected heavy reliance on downstream oil and chemicals poor coal and metal returns and the financial burden of the north west shelf gas project
sept 30 end shr 27 cts net 313000 vs 323000 six months shr 53 cts net 607000 vs 636000 assets 1078 mln vs 771 mln note company became public dec 31 1986
gaf closed at 49 5 8 off 3 4
american locker group inc algi 4th qtr net
so long as public sector wages are held down higher value added tax receipts resulting from rising prices should offset a loss in revenues that otherwise would result from slower than expected growth they said
funaro and gros spent two days at the end of last week in washington talking to government officials and international agencies and will this week visit britain france west germany switzerland and italy for discussions with governments
everest and jennings eja qtly dividend
the amnesty provision specially designed for farm workers was crucial to passage of the overall immigration bill
shr loss five cts vs loss 15 cts net loss 619000 vs loss 1730000 sales 3138000 vs 5667000 avg shrs 125 mln vs 115 mln year shr loss four cts vs loss 40 cts net loss 343000 vs loss 3963000 sales 134 mln vs 353 mln avg shrs 125 mln vs 103 mln note 1986 year net includes gain 1678000 dlrs from settlement of litigation with belcher oil co 375000 dlr provision connected with resignation of former president legal settlements and costs of 1074000 dlrs and 552000 dlrs in expenses from closing of contract packaging division
kaiser aluminum klu raises product prices
weve told analysts that iaes decision not to launch a full development program of the iae superfan for certification in 1991 will have no short term impact on earnings a united technologies spokesman told 
with brazils frost season approaching who wants to negotiate quotas one leading producer delegate said
finance minister kiichi miyazawa said the time has come for major industrialised nations to take action on exchange rates in line with their agreement last month in paris
the basic balance of payments deficit in february fell to 402 billion dlrs from 417 billion in february 1986 and 737 billion in january
this means more jobs could be created as the fields in the central and northern sectors of the north sea are deeper than in the south and thus have greater capital and labour requirements as the waters are deeper than in the south
there was also a loss on other investments of 46 mln dlrs and a loss on operations of 361 mln dlrs after interest depletion depreciation and income tax recoveries
in april seasonally adjusted unemployment fell by an upwardly revised 21600 to 302 mln or 109 pct it said
national savings has been competing too effectively with the building societies of late
people however cannot afford to wait for drilling to go up to start buying said sandi haber sweeney senior research analyst at sanford c
bankamerica bac completes mortgage unit sale
treasury secretary baker declines comment on g 6
the founding of commerz securities japan co
grain ships loading at portland
moodys said it took the action which affects approximately 117 mln dlrs of debt after examining lorals acquisition of goodyear aerospace corp
rise technology inc rteko 1st qtr loss
as ive said before we sort of see ourselves as engaged here in a real struggle to preserve the worlds free trading system because if the largest market in the world the us goes protectionist we run the risk of moving down the same path that the world did in the late 1930s he said
shr loss six cts vs loss 88 cts net loss 128141 vs loss 1298377 sales 1332218 vs 385146 year shr profit six cts vs loss 147 dlrs net profit 120571 vs loss 2171011 sales 4617034 vs 2959141
ing predicts gold will peak at 510 dlrs this year from its current level of about 416 dlrs per ounce
he noted however that oil companies were still spending six mln stg a day to maintain north sea production
it will be higher a morgan stanley spokesman said the offering has been approved by the securities and exchange commission but a kick off date and price have not been set
raised were valero backed tax exempt economic development revenue bonds of vincennes ind to baa 3 from b 1 valeros subordinated debt to ba 1 from b 2 and depository preferred stock to ba 1 from b 2
the dilution of 17 cts per share for 1987 includes the effects of financing the acquisition
the new price for high grade zinc is 37 us cents and 49 1 2 canadian cents a pound the company said
mannesmanns profit fell by an undisclosed amount in 1986
brown and sons inc absb found the proposal to be fair from a financial point of view
liptons and brooke bond two units of britains unilever plc control 95 pct of pakistans hard pack tea market traders said
the department said inflows were boosted in the fourth quarter by international activities of japanese banks and strong demand within the united states to finance acquisitions
the balance of purolators stock will be bought for securities and warrants in a new company holding the us courier operations
bluefield supply bfld in liquidating payout
now theres a growing number of new products in an environment of increasing competition for performance on fund management smithson said
some of the disputes dating back about 20 years were brought by groups that alleged improper foreign payments and political contributions
colombia plans to maintain foreign borrowing at levels similar to the 1982 86 period during which it received a net 13 billion dlrs net of repayments finance minister cesar gaviria said
he declined comment on a reporters query whether he favored a stronger move against iran than that ordered by the president
the company earned 338 dlrs a share in 1986
the returns on typical farms still favor participation in the usual acreage reduction programs and seeding the permitted acreage the usda report said
the offer would enable wickes to become fully independent and once the bid succeeded all the wickes directors would become members of the cityquest board
employers federation ncw chairman fred lempers criticised the guilders revaluation in line with the west german mark in last januarys european monetary system ems realignment and expressed concern over its effect on competitiveness
the stc soyoil purchase was for may 20 jun 20 shipment at 319 dlrs per tonne cif and the palm olein for apr 25 may 25 shipment at 355 dlrs per tonne
campbell soup co cpb sets quarterly dividend
swift energy co sfy 4th qtr net
oecd agrees export credit reforms
dow chemical co said it will issue 200 mln swiss franc denominated bonds worth about 130 mln dlrs us at current exchange rates
transamerica ta unit buys reinsurance unit
hamilton oil corp said reserves at the end of 1986 were 598 mln barrels of oil and 9055 billion cubic feet of natural gas or 211 mln barrels equivalent up 10 mln equivalent barrels from a year before
the bank of japan has cut its discount rate five times over the last year and a half
home savings bank hmsb sets initial dividend
thai rice exports rose to 72987 tonnes in the week ended october 13 from 54075 the previous week the commerce ministry said
pennzoil had asked texaco to post a 56 billion dlr cash bond and to reduce its dividend to not more than 50 pct of earnings
the most significant help came last september when the federal government lifted the 10 pct petroleum gas revenue tax pgrt 28 months earlier then planned
equity said it arranged to acquire 4985000 ounces of silver at 740 dlrs an ounces subject to selling the shares to placer
production of lead decreased to 33619 short tons in february from 38759 short tons in january
tractors malaysia holdings bhd 
the bill now goes to the full house banking committee for further action
1986 net both periods includes 191 mln dlr provision for future losses from several major projects in defense contractor subsidiary
australian prime rates have now retreated from a recent peak of 19 pct in october in line with declining money market levels
ccc accepts export bonus bid on barley to israel
us farm credit bank to sell bonds
phh phh buys two design firms
at least 800 mln dlrs of current excess liquidity in the system is convertible pesetas from west germany and other countries with much lower rates he said
the company did not elaborate
up to 30 billion yen has been allocated for purchasing redundant land and equipment from shipbuilders
an appeal by the canadian pork council that the current countervailing duty on canadian hogs entering the us be lifted is pending before the court
foreign interest in guilder cps and cds is almost non existent due to the strong position of the guilder but amros london based subsidiary ebc amro bank ltd joined the syndicate in case such interest emerges meys said
conseco said the acquisition would raise its assets to 27 billion dlrs and annual revenues to about 800 mln dlrs
gartner group inc said it acquired sole ownership of the comtec market research program
affirmed were chryslers baa 1 senior debt and chrysler financials baa 1 senior debt baa 2 senior subordinated debt and baa 3 junior subordinated debt
walbro cited strong demand for its fuel systems products especially automotive electronic fuel injection components and carburetors for lawn and garden applications
construction of the hotel is under way and due to be completed by june 1988 the agency added but gave no more details
hadson corp hads 4th qtr net
us banks have 50 pct representation on the committee while holding only 35 pct of brazils debt to banks he said adding this is not fair with the european and japanese banks the committee had played a useful role in 1982 and 1983 however
s p affirms ratings on att t debt
home shopping network inc filed with the securities and exchange commission for an offering of 400 mln dlrs of convertible subordinated debentures due april 1 2002
x broken kernels not included supply minus use does not equal ending stocks in breakdowns
but washington has previously said it would not agree to a nine billion dlr increase in its subscription unless reforms were agreed a position described today by nicaraguas central bank governor joaquin cuadra chamorro as undemocratic
many bankers have been angered by the resistance of the regional us banks noting that even if they dont contribute to the new loan they still will be receiving interest on the existing loans
growers have harvested between 15 and 18 pct of total planted area up from seven to nine pct a week ago
he said the goal for official development assistance oda this year is two billion dlrs adding that aid donors have committed oda inflows of 17 billion dlrs in 1987 up 30 pct from 13 billion in 1986
some merchants fear that a large tonnage will be delivered against the april futures contract between now and the end of the month and possibly disrupt the physical market
wyse wyseo to get link technologies
the full ways and means committee is to consider the bill next week and congressional sources said they expect it will be approved
poehl has had to switch to the hard line promoted by his deputy helmut schlesinger jacking up interest rates to fight inflationary fears and abandoning the pragmatic policies he had pursued so far this year to promote currency stability
indonesia imports palm oil to counter possible may shortage trade minister says
he named several areas of particular concern to washington computer microchips supercomputers kansai airport agricultural products and car telephones
wells fargo has agreed to lend up to 250 mln dlrs of the line itself and form a syndicate of banks to provide the rest the partnership said
many people are worried about inflation again said mats joensson of goldman sachs
william crowe chairman of the us joint chiefs of staff predicted iran will retaliate for the us strike against its oil platform though he said iranian options were limited
houston said the requirement would be phased in over several years to avoid disruptions and economic hardship
astrocom corp acomo 3rd qtr net
unless quickly reversed such a trend will ensure that june m 1 growth will be negative kahan said
hanson trust plc said kaiser cement shareholders today approved the previously announced merger agreement making kaiser cement an indirect wholly owned unit of hanson trust
commenting on mondays failure by producer and consumer nations to agree on new export quotas needed to tighten an oversupplied coffee market ivorian agriculture minister denis bra kanon told reporters that traders would eventually be obliged to restore their positions
if the banks thought that that was a suitable way to go fine
the agenda will include the approval of the banks annual report and accounts but there will be no debate on the capital increase which is currently being voted on by the adb governors
house ways and means committee chairman dan rostenkowski said congress must avoid a temptation to pass a protectionist trade bill this year
kidder peabody and co inc told dart that kidders affiliate will be prepared to advance up to 750 mln dlrs on a subordinated basis
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
if you are not exploring you are not going to find anything he noted
east rand mines expect higher gold production
the costs of meeting the potential liability for insurance losses to facilitate the sale of the companys insurance unit and of revaluing other discontinued business segments have substantially exceeded original indications moodys said in a release
financing terms of the proposed acquisition are unknown including afgs equity contribution to the partnership
purolator pcc in buyout with hutton efh 
but clark said in his interview that the issues of visible trade and access to financial markets should be kept separate
gaf corp said it is exploring its options in response to merrill lynch capital partners 423 billion dlr offer for borg warner corp and it has asked for all information that was supplied to merrill lynch
an overwhelming majority of the approximately 2500 members attending the meeting then voted to go on strike ufcw union spokesman allen zack said
weather closes alexandria port sumed oil terminal
upon exercising the a warrants investors also get two warrants for the b series
the company said the unsolicited bid by the carl c
a rough draft of the accord is expected to be presented to the premiers at the june meeting while the finished document is hoped to be presented to congress in october
singapores major banks are diversifying and gradually shifting their asset holdings from loans to debt instruments banking sources said
elsinore els makes deposit for interest payment
court to appoint trustee for np energy npeeq 
simon said there is a good chance that current world oil prices of about 18 dlrs a barrel could be maintained and that the more stable market is due mostly to changes in policy in saudi arabia and other opec members to control oil production
the bank of japan will sell tomorrow 500 billion yen of financing bills it holds to help absorb a projected money market surplus money market traders said
mcivor exxons senior vice president responsible for oil and gas exploration and production said that dependence would result from the mideasts large spare capacity at a time when the rest of the world consumes more oil than it was finding
klm expands talks with british and commonwealth
the post office enjoys a monopoly in west germany especially as far as deciding who is able to provide telecommunications equipment
the trade missions purchases here included three boeing passenger planes for 400 mln dlrs four mcdonnell douglas planes for 300 mln dlrs and machinery worth 725 mln dlrs
national distillers and chemical corp said it signed a definitive agreement to sell its spirits division for 545 mln dlrs to james beam distilling co a unit of american brands inc amb the sale of the spirits division was made under the companys previously announced plan to sell its spirits and wines businesses it said
banking center tbcxo 3rd qtr net
long island lighting co said it revised its preliminary 1986 net income to include a 16 mln dlrs after tax provision for its investment in the jamesport nuclear units
alpha health systems corp a wholly owned subsidiary of pesch and co said it submitted a merger proposal to the board of reph acquisition co the parent company of republic health corp which is 64 pct owned by pesch interests
gencorp has made no comment on the offer
this should keep substantial pressure on exporters to undertake sales despite the drop in prices she said
the taft family which founded the company almost 50 years ago has about 12 pct
the market assumes the dollar reference range to be between 140 150 yen and between 170 and 190 marks
beneficial corp said the sale of its american centennial insurance co subsidiary to first delaware holdings inc was approved by the delaware insurance department
dayton hudson thursday night met with minnesota governor rudy perpich appealing for legislative help
singapore land ltd lndhsi first half feb 28
net 13820 mln dlrs vs 8780 mln
mr
french finance minister edouard balladur said the group of seven g 7 industrial countries should respect pledges on monetary policy made in the february louvre accord on currency stability
department spokesmen said the major cause for the revision downward in january sales was a weaker january auto dealer sales figure than originally estimated
strong winds and high seas today closed alexandria egypts biggest port and an oil pipeline terminal nearby officials said
the interest surplus fell 28 pct compared with 2 12ths of 1986 results while the commission surplus because of the quiet stock exchange business fell back still more strongly
banca nazionale del lavoro london branch is issuing a 120 mln dlr five year straight bond with equity warrants lead manager credit suisse first boston ltd said
he told a press conference that in confirming the commissions earlier announcement of unchanged tolls for 1988 he was not necessarily implying there would be a rise in 1989
a year ago westlb had forecast average growth of just under three pct for 1986 1990
total area planted with maize for this harvest stood at 358 to 378 mln hectares down two to seven pct from the 385 mln hectares planted in the previous harvest
chemlawn gave no details on the talks
it said so called lockup devices in which securities are issued to a friendly investor to seal a takeover deal or fend off an unfriendly predator should be limited to 185 pct of the target companys total common stock
the commodity credit corp will depend heavily on certificates to relieve storage problems this year ralph klopfenstein deputy administrator for commodity operations usda told participants at the national grain and feed associations annual convention
one senior currency trader in riyadh said inevitably the volume of business in london has gained pace with the two new licences for ncb and samba but there is no question that most of the liquidity still rests in saudi arabia currency traders said the shift to london in the saudi riyal market is difficult to quantify
the company said it is also entering the commercial finance business through the formation of triumph financial corp
ratings lowered include the senior debt to a plus from aa minus and preferred stock to a from aa minus
union said macluan failed to make an offer for unions 72 pct interest in canbra before the june 22 deadline
it said there were good opportunities for growth in both existing and recently acquired businesses as well as for growth by acquisition in related areas
texas air said the settlement has other terms relating to employee shareholdrs of continental who will receive options from texas air
the company said it received 44 mln dlrs and cancellation of the remaining balance due on the acquisition of the interest adding this represents 25 mln dlrs more than it paid for the interest
national westminster bank plc led the way this morning after the bank of england lowered its dealing rates in a signal that it would tolerate a half percentage point reduction
twa said it would not buy more usair group stock at least for the moment
first bank lewiston has assets of 1014 mln dlrs at the end of the first quarter
nerco is 90 pct owned by pacificorp ppw
congressional leaders complain they were not consulted about plans to put the us flag on kuwaiti ships and some charged the policy could lead the us into the iran iraq war
no comparable bills have been offered recently
the decrease brings marathons posted price for both west texas intermediate and west texas sour to 1650 dlrs a bbl
however warm temperatures over the past three weeks have promoted some early growth and will help the crop catch up on last falls late seeding it said
fees consist of 5 8 pct for management and underwriting including a 20 basis point praecipuum and 1 1 4 pct for selling
under the proposal icahn would have paid for each twa share 20 dlrs in cash and 25 dlrs face amount of 12 pct subordinated debentures due 2007
in addition to proposing an increase in the number of its outstanding common shares gencorp had suggested the adoption of a classified or staggered board and the elimination of cumulative voting
that will at least take a couple of days if not weeks he said
we dont seen this as any progressive bidding game he told reporters at a news conference
revlon buys germaine monteil cosmetics from beecham group for undisclosed terms
terms of the securities will be based on market conditions the company said
but so is unemployment
neda said exports totalled 12 billion dlrs in the first quarter while imports were 14 billion dlrs
he told in a telephone interview that trading in palm oil sawn timber pepper or tobacco was being considered
shr 43 cts vs 37 cts net 2276000 vs 1674000 revs 326 mln vs 244 mln year shr 90 cts vs 69 cts net 4508000 vs 3096000 revs 1010 mln vs 769 mln avg shrs 5029000 vs 4464000 note 1986 fiscal year ended feb 1 1986
a second surface hole 500 feet farther east intersected 1068 ounce per ton over 53 feet
negotiations on a new international natural rubber agreement inra are approaching the make or break point and prospects for a future pact appear to be in the balance delegates said
a pldt spokesman said the companys profits are likely to be substantial since the government raised its franchise tax to three pct from two and to impose a 35 pct corporate income tax from which it was previously exempt
many fear that dealers will buy coffee destined for non member countries at discounts and then bring it into the us falsely labelled
shr 54 cts vs 44 cts net 706111 vs 579576 revs 217 mln vs 232 mln nine mths shr 126 dlrs vs 44 cts net 1657634 vs 582001 revs 631 mln vs 686 mln note full name of company is frozen food express industries inc
also traders point out the number of us firms operating in london has increased sharply over the past year as has the number of european and asian banks which trade us government securities
australian annual broad money supply growth 103 pct in january
suffield financial corp said the federal reserve board approved its application to acquire coastal bancorp csbk portland me
carolin mines has new gold assay results
hutton sources have said the firm was in fact facing risk n its investment since it did not know when it could reclaim its 279 mln dlr loan
mexico signed a rescheduling accord covering 120 mln dlrs in official debts to britain as part of a 18 billion dlr restructuring agreed with the paris club of creditors last year the finance ministry said
in yesterdays report the energy department said imports could make up 50 pct of us demand by 1995 adding that persian gulf producers will provide as much as 65 pct of the free worlds total oil consumption by that date
period ended feb 28 shr loss 34 cts vs loss 58 cts net loss 1252000 vs 2145000 revs 4539000 vs 3504000 six mths shr loss 66 cts vs loss 86 cts net loss 2428000 vs loss 3163000 revs 9033000 vs 8192000
recent west german data have shown falling industry orders lower industrial output and slowing employment gains
aspen ribbons inc aribo 1st qtr net
s and p cut to aa minus from aa the senior debt and to a plus from aa minus the subordinated debt of the parent and units ut financial services corp ut credit corp ut finance nv and carrier corp
the ministry said tf 1s forthcoming sell off meant that a third of the governments programme would have been completed in less than nine months
humana inc said it has agreed in principle to sell 68 medfirst primary medical care facilities to primedical corp for undisclosed terms with transfers taking place over the next four months
sosnoff said later in a statement that the 291 mln shares he is now seeking together with the 4217675 shares he owns would give him a 924 pct interest on a fully diluted basis
share adjusted for one for two reverse split in november 1985
qtrly div three cts vs three cts prior pay may 15 record april 24
shr loss 89 cts vs loss 21 cts net loss 3030548 vs loss 548442 revs 1519360 vs 1081915 avg shrs 3399993 vs 2725425
moodys investors service inc said it lowered minnesota power and light cos 490 mln dlrs of debt
indications are that in return for going along with the saudi desire to maintain official prices in vienna iran is seeking concessions from the kingdom on the iraq issue it said
but they have not given any sign of planned withdrawals unless the commission reviews its export policy they said
he said opec had expected to see some fluctuations in the spot price
coupon date is july 15
salomon raises caterpillar cat opinion
in 1986 cpc earned 2192 mln dlrs or 230 dlrs a share on revenues of 455 billion dlrs compared with income of 142 mln dlrs or 146 dlrs on sales of 421 billion dlrs in 1985
speaking before an american israel chamber of commerce seminar yaacobi said that in 1986 israeli exports to the us were over 23 billion dlrs or about one third of israels total exports while imports from the us were around 18 billion dlrs or roughly one sixth of the total
algeria regulates use of coffee additives
for the moment the sentiment is of wait and see on rate cuts but there are now more optimists than pessimists among market operators a dealer for a major french bank said
several analysts were skeptical of the rumors yet they said they could not conclude a takeover of the fast food restaurant chain was impossible
in addition if the property is pre sold while amounts are still outstanding the basic margin will be reduced to 1 2 point over libor the banking sources said
wojnilower said the us probably enjoyed above average economic growth in the first quarter
gordon said he will decide in the next few days whether to grant burlington industries incs request to stop a takeover by samjens acquisition corp
reagan said on march 27 when ordering the tariffs that he hoped the japanese would soon end their unfair practices in semiconductor trade and that sanctions could be lifted
basix corp bas 4th qtr loss
this rise reflected industrys need for equipment to raise production and is perfectly compatible with the governments program for economic growth fendt added
shr profit 27 cts vs profit 51 cts net profit 6600000 vs profit 12231000 revs 2117 mln vs 1934 mln 12 mths shr loss 17 cts vs profit 127 dlrs net loss 4077000 vs profit 30142000 revs 7535 mln vs 6734 mln note in qtr ended 1986 the company recognized expenses of 5948000 for restructing the combined operations of bbdo doyle dane bernbach and needham harper worldwide in august 1986 before tax gains
company officials at a press conference said the money would be raised through the sale of debentures adding these securities are expected to be registered with the securities and exchange commission following standard and poors corps rating of the companys debt next week
these factors and south africas unstable political situation which may lead to a temporary reduction in gold supplies from that country underscore the firmer sentiment it said
kloeckner werke ag klkgf should have turnover this year around 1985 86s 24 billion marks though more growth is likely in engineering in coming years management board chairman herbert gienow said
coupon and conversion price for the par priced bonds will be set at dai nippons next board meeting
even though the prime rate cut was good for the dollar foreign exchange traders are not convinced the dollar decline is over gibbs said
iraq said today its troops were pushing iranian forces out of positions they had initially occupied when they launched a new offensive near the southern port of basra early yesterday
its part of a trend towards growing capital participation by japanese insurance firms in foreign financial institutions said simon smithson an analyst with kleinwort benson international inc in tokyo
japan february external reserves record 5173 billion dlrs january 5146 billion
his interest rate and economic forecasts were among the lowest
most expect an increase in inventories of as much as five pct to offset a steep four to five pct drop in final sales in the first quarter gnp accounts
the chairman of the senate antitrust subcommittee said the transportation department was allowing too many airline mergers and proposed its authority be transfered to the justice department
holiday operates harrahs marina hotel and casino in atlantic city nj
meanwhile ltsociete shell chimie said it also returned to profit in 1986 for the first time since 1976 posting net profit of 160 mln francs against a 1985 loss of 57 mln
the aim of the tax was to prevent the maize imported into spain from the other ec states with the help of subsidies from being reexported back to them
february price rises were mostly in housing health education entertainment and transport
the federal reserve board also reported that the manufacturing sector which had been one of the weaker elements of the us economy was showing signs of recovery
campeau and edward debartolo complete purchase
the suit contends that this fee hampers alleghenys ability to attract other offers or take other actions that would benefit holders of preferred stock
hanson industries the us arm of hanson trust plc said contracts have been exchanged in london for the sale of bonds delivery service to rockwood holdings plc for about 60 mln dlrs in cash
the debentures are convertible through april 28 into ryan common stock at 3050 dlrs per share
they said they saw bhps full year earnings at around 900 mln to 920 mln dlrs
lme details march 1987 turnover
no names were given
earlier this week two us experts on the soviet union said gorbachev was likely to be ousted in three to four years if he continues his reform policies
the new york firm will be known as deak international trading ltd the company said
a swiss official said the brazilian delegation had made no demands
others said they could include those issued earlier this year and applications not yet granted
the seamen have settled in general for pay rises of 120 pct with the 21 companies
unilever plc and nv combined 1986 pre tax profit 114 billion stg vs 953 mln
shr loss 326 dlrs vs loss 275 dlrs net loss 3479744 vs 2939619 year shr loss 558 dlrs vs loss 220 dlrs net loss 5964454 vs loss 2341818 note net includes tax credits of 108798 dlrs vs 1445275 dlrs in quarter and 838690 dlrs vs 1124805 dlrs in year
venezuela to lend oil to ecuador for export
they were very frustrated with their inability to get chesebrough
the yield on 30 day bankers security deposit accounts issued this week by the saudi arabian monetary agency sama fell to 584073 pct from 621950 last saturday bankers said
cornerstone finanical corp cstn sets payout
waste management wmx seeks suits dismissal
bankers and diplomats said it would amount to fiscal recklessness in the longer term
the growth in imports appears to be flattening even if januarys bad weather had curbed consumer spending on overseas goods and import intensive stock building among manufacturers harwood said
s african trade surplus rises sharply in february
san miguel corp reported sales revenue of 122 billion pesos in 1986 11 pct above its 109 billion peso sales in 1985
but i have not received too many inquiries by prospective buyers lately either traders said debt securities of us banks that are perceived by investors to be heavily exposed to latin american debtor nations declined moderately in price last week
in a filing with the securities and exchange commission roland said it sold 50000 shares on feb 4 at 513 dlrs each
gulf and western inc gw 2nd qtr april 30 net
keycorp key 3rd qtr net
idec izumi issues 35 mln dlr equity warrant bond
atlantic richfield co said it sold its plan cell research institute unit and its arco seed co operations in two transactions for undisclosed prices
huttons offer was topped by a 40 dlr per share offer from emery air freight corp eaf earlier this week
the bond for royal insurance finance nv is guaranteed by the parent
southeast banking corp stb sets quarterly
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 initial demand for the recently introduced compaq portable iii and the new models of the compaq deskpro 286 exceeds that of any other compaq personal computers canion said
its properties produce about 1100 barrels of oil a day
the sources said that in spite of over production by opec members such as iraq the united arab emirates kuwait and qatar demand should exceed supply by the fourth quarter
noranda inc said production will remain shut down at its fire damaged copper mine here until it can completely examine the mine
qtly div six cts vs six cts prior pay april three record march 23
hemingway and certain members of the hemingway family who own about 30 pct of commercial securitys outstanding shares have agreed to vote in favor of the transaction and not dispose of their stock
estimates for total crop ranged from 23 to 26 mln tonnes down from 24 to 27 mln tonnes estimated last week and down 341 to 415 pct from last years record harvest of 41 mln tonnes
southam unit acquires winnipeg community papers
evans southerland escc sells convertible debt
china welcomed a us supreme court decision dismissing claims by holders of 41 mln dlrs of pre 1949 chinese bonds but us officials said peking has a long way to go before it can issue bonds in the us a foreign ministry spokesman told a news briefing that china welcomed a monday court ruling which rejected a petition by holders of railway bonds issued in 1911 by the ruling qing dynasty which the communist government does not acknowledge
however braverman said that from a longer term perspective current bond prices provide a buying opportunity despite a nearly one point bond price rebound friday on unexpectedly weak march employment data key 30 year treasury bonds lost 2 1 4 points in price for the week as a whole and thursdays 793 pct closing yield was a 1987 high
saudi arabia is not playing that role
it may not even happen the spokeswoman said
the new price for continuous galvanizing grade alloyed with controlled lead and aluminum additions is 37 3 4 us cts and 50 1 4 canadian cts a pound
that the lead manager has required the borrower to provide information during the lifetime of the notes on the progress of his business
investors believe these banks are also exposed to latin and other debtor countries
japan business leaders say g 7 accord is worrying
for six months the yield was 638 pct and the bids ranged from 598 pct to 610 pct with 48 pct of the bids accepted
usair said the request was hastily pasted together in order to take advantage of a regulatory anamoly that would allow twa to accomplish in a regulated environment actions that would be impermissable in the non regulated economy at large usair called on the transportation department to reject twas request
bregman partners include the interests of the belzberg families of canada
but one senior banker said he too was guardedly optimistic a deal could be struck possibly by the end of the week
daniel lee an analyst at drexel burnham lambert inc said that although sosnoffs relatively low bid may attract other suitors willing to pay a higher price for caesars there is little likelihood that a competing bid would start a battle for the company
both were proposed last month
the report also favoured retention of the liras six pct oscillation band with the european monetary system ems during the liberalization process in order to lessen short term domestic interest rate fluctuations which could result from portfolio adjustments
commerzbank ags management board chairman walter seipp called on the bundesbank to reduce interest rates to protect the mark through bringing the allocation rate for securities repurchase agreements down
moodys rates the bonds aa 1 and s and p rates them aa plus
our main difficulty will be to persuade the us on the consumer side and brazil on the producer side to agree to quota re introduction he said
whether this meeting will prompt any us action on the issue of whether moscow will be offered export bonus wheat is uncertain the aide said
bank of england does not intervene in money market
chinas first joint venture bank reports profit
domestic business was also declining and orders for west german engineering goods have been falling since july 1986 dieter said
the ratings reflect continuing erosion of a major segment of its sales base as the outlook for the taconite industry continues to be depressed d p said
the deal would give shareholders 35 dlrs a share in cash if just 83 pct of purolators 76 mln shares are tendered
oil tax break ridiculed by us house taxwriter
this brings the banks total help today to some 412 mln stg and compares with its forecast of a shortage in the sytem of around 400 mln stg
weizsaecker in a speech on the first day of an official visit to argentina said debtor and creditor countries have created this situation jointly
indian plant signs first alumina export contract
citizens growth citgs omits quarterly dividend
a fed spokesman told a press press conference today that the fed had no large net one day miss of two billion dlrs or more in its reserve projections in the week ended wednesday
bankers are thus working hard to isolate brazil
the financial services act gives trade and industry secretary paul channon power to stop firms from engaging in investment banking and insurance one official said
drought may reduce zimbabwe coffee output growers
trade sources said that 10000 tonnes of lead concentrates could convert to around 5000 tonnes of metal although this depended on the quality of the concentrates
shr 20 cts vs 16 cts net 1507000 vs 1147000 sales 138 mln vs 9608000 backlog 521 mln vs 378 mln
anacomp aac acquires datagraphix
the british government may revoke the licences of selected japanese banks and securities companies operating in londons financial city when they come up for renewal next summer if progress is not made towards opening up japans markets to foreign competition government sources said
the last tankoku auction on february 12 produced a record low yield of 3383 pct reflecting expectation of a half point cut in japans discount rate he said
japan appears to be relying less on corn from china argentina and south africa and more on supplies from the united states the us agriculture department said
but that would still be an exceptional achievement considering that for the first time since the second world war all french prices have been freed he commented
china resumes ussr ship repairs after 23 year gap
the purchase consisted of a total of 340000 tonnes of hard red winter wheat for various may aug shipments with 210000 tonnes of soft red winter for aug sept the exporters said
dreyers grand ice cream said it has restated its previously reported fourth quarter loss to 904000 dlrs or 13 cts per share because it has now decided to take a charge of about 700000 dlrs to provide for losses of midwest distributing co which was acquired december 30
sales of all industries are predicted to rise 19 pct in the year which starts april 1 the research arm of nomura securities co said in a statement
they also have some attractive leaseholds on their restaurants murren said
the dollar is expected to try its psychological barrier of 15000 yen and to fall even below that level a senior dealer at one leading bank said
president corazon aquino said the philippines was closely monitoring interest rates in the wake of mondays record drop on wall street and steep declines in manila and other asian stock markets
smoothed but non seasonally adjusted figures show a merchandise trade surplus of 114 mln dlrs against 81 mln in january and a 47 mln dlr deficit in february 1986
volcker said the challenge was greatest in the education of low income minority groups such as blacks and hispanics
he said more than 75 pct of the imports come from the us and the rest from south africa
july shipment thai raws traded to china early in the week at fob levels equivalent to 20 25 points discount to july new york futures it said
idec izumi corp is issuing a 35 mln dlr eurobond with equity warrants due april 23 1992 with an indicated coupon of 2 3 8 pct and priced at par lead manager daiwa europe ltd said
resumption of an ico contact group meeting with consumers scheduled for this evening has been postponed until tomorrow delegates said
dynamics which now owns 275 pct of cts outstanding stock said it agreed to limit its shareholdings to not more than 35 pct of the outstanding shares for a year following the companys 1987 annual meeting
nippon signal issues 50 mln swiss franc notes
that estimate would represent a drop in revenues of 1400 mln dlrs from 1986
in open access gas pipelines serve purely as a transport company moving gas from suppliers to customers
simon told in an interview that he expects earnings of 33 cts a share in 1987 compared with 25 cts a year ago
shr 35 cts vs 32 cts net 3033000 vs 2189000 revs 562 mln vs 319 mln avg shrs 8649000 vs 6914000 six mths shr 63 cts vs 72 cts net 5450000 vs 4966000 revs 1086 mln vs 663 mln avg shrs 8655000 vs 6912000
south african foreign reserves up sharply
shr 70 cts vs 56 cts net 6197000 vs 4880000 revs 241 mln vs 171 mln nine mths shr 138 dlrs vs 120 dlrs net 121 mln vs 104 mln revs 525 mln vs 418 mln
south jersey industries inc sji 1st qtr net
us officials say its rules now meet health standards and the ec should require equivalent but not identical standards
chairman sir philip shelbourne said the collapse in the oil price in 1986 had made the period extremely difficult but the company had come through remarkably well
resorts said the offer will expire at 1700 est on march 27
in selling to retail investors or smaller institutions you have to make a lot more telephone calls an investment banker pointed out
riyal trading in the gulf on saturdays and sundays has become very quiet with london closed while some saudi and bahrain banks now staff offices on friday the gulf weekend
canada has threatened to stop imports of danish pigmeat from july 14 after canadian veterinary inspectors approved only two of 33 slaughterhouses a danish agriculture ministry official told 
iowa beef had closed the plant indefinitely in mid december because it said it had no alternative to threats by meatpackers to disrupt operations
swiss corp for microelectronics and watchmaking industries said it has acquired international time corp from privately held timex corp for undisclosed terms
james capel far east ltd estimates jardine mathesons 1986 profits at 450 mln dlrs and attributes most of the income to retail sales
mannesmann ag mmwgf expects a difficult year for the capital goods industry in 1987 chief executive werner dieter told a news conference
meanwhile high water at cologne has forced vessels to travel at reduced speed a water authority spokesman in cologne said
japans unemployment rate is expected to continue to climb to about 35 pct within the next year from januarys three pct record senior economists including susumu taketomi of industrial bank of japan said
us trust co said it raised its broker loan rate to 7 3 4 pct from 7 1 2 pct effective immediately
one of the most visible changes in retail car sales has been in the size of dealerships auto analysts say
heart federal hfed sets two for one split
in the future according to an agreement to be signed with the treasury the institute will no longer need to seek approval by the treasury to seek the release of additional funds to buy coffee the statement said
turnover despite losses in guilder terms due to weaker foreign currencies rose by 44 pct to 67 billion guilders
shr loss 29 cts vs loss two cts net loss 5168000 vs loss 410000 revs 465 mln vs 294 mln avg shrs 176 mln vs 171 mln note net includes tax credits of 3938000 dlrs vs 394000 dlrs
it sold 36 billion francs worth of the treasurys 850 pct june 1997 tap at an average price of 9686 pct giving an average yield of 878 pct up from 872 pct at its last tender of the same tap a month ago
the us did not join the international cocoa agreement because it considered its proposed price ranges unrealistic and not designed to protect the interests of consuming countries the state department said
kuwaiti daily says opec credibility at stake
offers must be received by 1300 cdt april 7 and successful offerors will be notified april 10
qtly div 22 cts vs 22 cts prior pay april 10 record march 30
the iea said that assuming crude oil and product prices stay close to current levels some destocking by end users can be expected
period ended january 31
if you dont deal with the budget deficit everything else you do is going to be counterproductive he said
the bank of england said it provided the money market with a further 284 mln stg assistance in the afternoon session
during the same period us soybean stocks increased 121 mln tonnes becoming the dumping ground of the entire world surplus courtesy of the ccc and highlighting the artificially high prices caused by the us loan program soybean prices and to a great extent world oilseeds prices are likely to be dominated by the loan program as long as the us soybean surplus continues
the m 2 aggregate centred on a three month moving average rose year on year by four pct within a 1987 target range of four to six pct
hertz said offering proceeds would be used for general corporate purposes and to reduce short term borrowings
normally syria calls white sugar buying tenders for forward delivery and last months spot requirement resulted in the sale of several cargoes
norways parliament has approved an extensive trade ban against south africa but left shipowners a key loophole through which controversial oil shipments on norwegian tankers may continue government officials said
but with the current mineral export tax level being levied a net loss is likely to be registered
usf and g corp fg raises quarterly dividend
the complex task of wielding control over monetary policy in an increasingly fast moving global economy could be aided by tying policy to commodity prices the newest member of the federal reserve board says
bridgestone corp britt year to december 31
alleghany corp said its board declared a stock dividend of one share of its common for every 50 shares outstanding as the companys dividend on its company for 1987
susquehanna corp sqn 3rd qtr net
the company has sought a declaratory judgment on convertibility of debentures due 2011 in light of the recapitalization
at this weeks tender on monday the bank sold a total of 298 billion francs worth of 13 week bills 319 billion francs worth of five year bills and 269 billion francs worth of two year bills
cumulative purchases so far this season stand at 216095 tonnes still up on the 201966 tonnes purchased by the 21st week of last season the board said
the rosy outlook for ges jet engine business coincides with an upbeat performance in other segments
us commerce secretary malcolm baldrige predicted congress will pass a reasonable trade bill this year and said tough protectionist legislation could prompt a trade war
for the year ended june 28 flowers earned 295 mln dlrs
shr 35 cts vs 29 cts qtly div 12 cts vs 12 cts prior qtr net 5036000 vs 4165000 revs 1476 mln vs 1324 mln nine mths shr 112 dlrs vs one dlr net 161 mln vs 144 mln revs 4334 mln vs 385 mln note per share data reflect march 1986 five pct stock distribution
she said the sums involved are considerable but gave no details
ongpin declined to disclose details of the banks new offer and bankers also declined to be specific ahead of their next meeting with ongpin on monday
conger said the move to consider acquisitions represents a change in the companys acquistions policy conger said all of homestakes current cash position of 120 mln dlrs would be available to acquire reserves
it expects to write down some previously acquired assets but the company did not say by how much
at the height of the stoppage seamen said about 200 ships were strike bound
saudi arabia bought 5000 tonnes of refined bleached deodorised palm olein at its import tender yesterday for april 16 25 shipment at 353 dlrs per tonne cost and freight jeddah traders said
he said the latest employment report will not concern the fed because it does points to gnp growth in the first half of 25 30 pct but it does suggest they cant afford to tighten to quickly either the statistical factors used to smooth out seasonal fluctuations in the jobs data may have understated march labor force gains just as seasonal factors probably overstated them in january and february slifer said but are consistent with his forecast of 18 pct first quarter gnp growth
the yield on the bills for sales to banks and securities houses from money houses will be 39495 pct against the 39375 pct discount rate for one month commercial bills and the 458 42 pct yield on one month certificates of deposit today
gotoh said the government could cope with the present critical economic condition even if it put off its plan to stop the issue of deficit covering bonds by fiscal 1990
even if japan and west germany do expand this year it wont be enough to help the trade situation much said bourdain of bankamerica who also expects the dollar to drop to 148 yen in the next couple of days
caution was also evident in the philippine camp
the coupon will be paid 75 pct in australian dlrs with the investor having the option to receive the balance in australian dlrs or marks
lone star industries inc said it has arranged 150 mln dlrs of financing through the issuance of promisary notes to a consortium of 22 lenders
qtly div 20 cts vs 20 cts in prior qtr payable june 10 record may 22
to fujitsu ltd another major electronics firm
no mention was made however of the us commitment to cut the budget deficit even though it is implied in the reafffirmation of paris
the philippines first quarter growth figures released yesterday indicated the government was likely to achieve its 1987 targets central bank governor jose fernandez said in an interview
weis markets inc wmk 1st qtr march 28 net
viceroy resource corp said recent drilling on the lesley ann deposit extended the high grade mineralization over a width of 600 feet
the loan guaranteed by the government is for 15 years including three years of grace at a variable interest rate currently 792 pct the bank said
the pentagon will appeal commerces approval of the sales because the technology could be turned against us national security commander bob prucha a pentagon spokesman said
att t cost cutting efforts on target
zaire has been authorized to purchase about 30000 tonnes of us rice under an existing pl 480 agreement the us agriculture department said
terms were not disclosed
earlier venezuelan energy and mines minister aturo hernandez grisanti said his country would supply an unspecified part of ecuadors export commitments
earlier traders in london said the outcome of the tender was very hard to predict after last weeks substantial award and the placing of 785000 tonnes of sugar into intervention
twa today revealed that it has increased its holdings to more than four mln usair shares 15 pct of the outstanding
we dont tinker
qtrly div 125 cts vs 125 cts prior pay april 1 record march 13
the newly acquired company will operate as part of standexs perkins division the company said
however the intervention failed to boost the us currency significantly from the 14220 yen level they added
shell to declare norways draugen field commercial
while the two ministers were meeting with bundesbank president karl otto poehl the central bank had also added money market liquidity repeatedly signalling it did not want a strong rise in the tender allocation rate on tuesday
toronto dominion australia dollar bond increased
pertamina has initialled a 20 year contract with chinese petroleum corp cpc for the supply of 15 mln tonnes of lng for taiwan starting october 1989 a cpc official said
the stock today hit 36 1 4 up one
henley late friday filed a 10 k report with the securities and exchange commission concerning the santa fe stake
yugoslavia failed to make a principal repayment due last month which had already been postponed by 90 days
postech the canadian firms us marketing arm sells computerized restaurant management systems and security systems in the us the deal is subject to approval by the boards of postech and rexcom
the trade legislation to be considered by the full house in late april would require president reagan to retaliate against foreign unfair trade practices unless the trade actions would harm the us economy
as ever one of the crucial sticking points in a wheat deal would appear to be price
yeutter said the proposed vegetable oils tax would violate ec obligations under the gatt
if anything im a little bit less concerned but there is still a risk he said
the federal national mortgage association said it wanted to clarify the status of yesterdays offering of one billion dlrs of debentures due march 10 1992
amendments involved the banks proposed treatment of exposures by financial institutions acting as banker to other units of their own group of companies the paper showed
oper shr four cts vs one ct oper net 108000 vs 30000 revs 128 mln vs 148 mln note current qtr figures exclude operating loss carryforward gain of 57000 dlrs or two cts per share vs gain of 21000 dlrs or one ct per share
we are taking on some 400 mln dlrs new debt with three tier financing emphasizing a revolving loan some term loans and some unsecured private placement and are now in the latter stages of signing an agreement chemical new york corp chl is the companys lead banker on the loan hemminghaus said
it widened to 361 billion in the first quarter of 1987 from 278 billion a year earlier taiwans official figures show
ferruzzi deal with cpc worth 630 mln dlrs
chinese vice premier tian jiyun said plans to scrap the countrys parallel currency foreign exchange certificates fecs had been postponed due to objections from foreign businessmen and others
oper shr two cts vs eight cts oper net 41000 vs 153000 sales 7456000 vs 7965000 year oper shr 22 cts vs 50 cts oper net 434000 vs 1103000 sales 31 mln vs 336 mln note current qtr and year figures exclude loss from discontinued operations of 384000 dlrs or 20 cts per share
and we hope to see changes occur in the near future visiting chairman of general motors roger smith said in march
the foreign firms amoco occidental petroleum corp oxy mobil corp mob and a unit of ente nazionale idrocarburi are working in partnership with the national military office for strategic industries omnis roland ratsimandresy the director general of omnis said at a ceremenony to sign the extension of the amoco agreement that his department would intensify oil exploration with its existing partners and would soon offer a new round of exploration licences
commercial and industrial loans on the books of the 10 major new york banks excluding acceptances fell 572 mln dlrs to 64297 billion in the week ended march 11 the federal reserve bank of new york said
nakasone says major nations committed in paris to stable dlr above 150 yen
the bundesbank would therefore be reluctant to make a move on interest rates when this would be better held in reserve
he is chairman of the europe south and south east african conference lines and joint managing director of p and o containers ltd
the revised estimate for fourth quarter gnp partly reflected a downward revision in inventories to a total decrease of 285 billion dlrs in the fourth quarter the department said
page petroleum ltd year loss
central banks are likely to play a role in halting the advance in currencies through intervention the analysts said even though the dollar fell to a 40 year low against the japanese yen on monday despite bank of japan intervention
federal mogul corp fmo 3rd qtr net
the growing debt burden of latin american and african nations will also provide impetus for the gatt round to succeed he said
the office said telephone confirmation of allotments must be received by 1500 hrs est today and that secondary trading will begin at 0930 hrs est tomorrow
saudi arabian oil minister hisham nazer reiterated the kingdoms commitment to last decembers opec accord to boost world oil prices and stabilise the market the official saudi press agency spa said
twas proposal is nothing more than an attempt by carl icahn to disrupt at the eleventh hour usair groups acquisition of piedmont a transaction which the usair group board views as most beneficial to usair group shareholders employees and passengers and which mr
it said consumer prices rose 989 pct over the last 12 months against 819 pct inflation in the calendar year 1986
hallamore san bars director of corporate development 1312500 dlrs and 1087500 dlrs respectviely under agreements entered into in october 1983
financially strapped ivory coast long regarded as one of africas showpiece economies is going through difficult times following the sharp slump in the world price of cocoa and coffee
yeutter did say that us farm products would be targeted if tokyo decided to hit back
american network inc anwi dec 31 year net
us ambassador michael samuels charged during the council debate that canada was trying to preserve domestic jobs by insisting that herring and salmon be processed at home
coca cola bottling group inc said it filed with the securities and exchange commission to offer 125 mln dlrs of subordinated notes due 1997 through salomon brothers inc
dieppe one two ports italian adriatic 9500 11000 mt bulk wheat 3000 2000 6 12 4
dean foods co df 3rd qtr net
heidrun is often cited by the government and industry as the most likely candidate for the first field development project on the haltenbanken exploration tract off central norway
hannes androsch general director of creditanstalt bankverein cabvvi today put 1987 gdp growth at between one and 15 pct
if that means waiting for a while then so be it prebble said
processors and chocolate manufacturers said consumer prices for cocoa products were unlikely to be affected by buffer stock buying for some time to come
todays cd buying operation was designed to seek an announcement effect in which we would reassure the market of the fact that we have not changed our policy stance a senior central bank official told 
summit petroleum corp sells shares
french wheat exports to ec fall
the bank stepped into the market amid selling pressure from interbank dealers dealers said
soviet grain products ministry criticised
westinghouse electric corp chairman douglas danforth said he was encouraged by first quarter results for fiscal 1987 and said the company was positioned to capitalize on the economys modest growth for the rest of the year
fleet said the deal is expected to be completed by july one 1988 the date on which the nationalization of rhode islands interstate banking law takes effect
assistant general manager wang hongshan said the groups outstanding loans at end 1986 totalled 620 mln hong kong dlrs up from 530 mln at end 1985
this economist who declined to be named said the february rise was also partly explained by special factors in january when there had been a number of public holidays as well as extremely cold weather both of which hindered trade
yesterday on the grey market it was quoted at around 102 1 2 103 1 2 pct
federal home mortage buys funds from lender
disbursements of loans including previously approved loans fell to 5572 mln dinars from 7839 mln
the proposals involve introducing a set of interest margins on ecgd backed debt of 5 16 to 7 8 pct depending on the size and maturity of the credit and the currency
but some analysts said that refiners may have held refinery runs
the higher rate forecasts reflected a belief that japanese investors will be less eager to buy us bonds because of fear about further dollar erosion and perhaps in response to us trade sanctions
nv nederlandse gasunie is issuing a 100 mln dlr eurobond due april 15 1992 paying 7 1 4 pct and priced at 101 1 8 pct lead manager citicorp investment bank ltd said
1985 4th qtr excludes a loss of 4570000 dlrs and 6330000 dlrs respectively for discontinued operations
s and p noted that 60 pct of 1986s downgrades were concentrated in the industrial sector where the most negative factor was takeover fever that led to debt financed mergers and acquisitions and costly defenses to fend off takeovers
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
also the recipient countries would have to prove that the production marketing and export of the commodities could be handled without government subsidy
mobil plans to open office in peking
dansk naturgas a s is issuing a 10 billion yen eurobond due may 13 1993 paying 4 5 8 pct and priced at 101 5 8 pct lead manager ibj international ltd said
assuming an average exchange rate of 171 swiss francs to the dollar this year against 169 in the second half of 1986 the report forecast a 275 pct rise in exports and a 35 pct rise in imports this year after rises of 325 pct and 65 pct respectively in 1986
tuesday morning inc tues 4th qtr net
terms were not disclosed
the call money rate dropped to around 8 3 8 pct on february 23 the day after the paris accord and then edged steadily down to eight pct on february 27 and 7 3 4 pct on march 3 where it has now stabilised
chemfix technologies cfix 2nd qtr feb 28 net
shares could also be sold in a copper mine empresa nacional tintaya sa in the southern state of arequipa
this compares with the banks upward revised shortage forecast of around 500 mln stg
ryan homes ryn calls debentures
it said the missiles had been deployed at two sites and quoted a naval analyst as saying they could be used to sink a supertanker and block the strait of hormuz
dixie yarns dxyn to acquire ti caro inc
major us banks move to higher 7 3 4 pct prime
asca administrator milton hertz said in a statement that the extension was necessary because of heavy workloads at county ascs offices
acmex said it was presently entitled to 51 mln cheetham shares or 1685 pct of its 3027 mln issued shares
prospects for another near record grain harvest in the soviet union appear dim at this point but it is premature to forecast any major crop problems analysts said
computer assoc
the business which has 145 employees and supplies computers and software for hospital information systems will be integrated into 3ms hospital software business
takashi ishihara chairman of the japan committee for economic development said the accord will not prevent the yen from rising further
the figure is virtually the same as the 477 mln mark 1985 parent company net profit
its been pro forma intervention said francoise soares kemp chief corporate trader at credit lyonnais
neil springer currently president and chief operating officer of navistar international was named chairman of the new subsidiary
the spokesman announced that from march 29 alitalia would be starting a new weekly service to shanghai
the bilateral accord followed a multilateral rescheduling agreement reached last september of mexicos official debt to the paris club of western creditor governments
if morgan tried to find a home for the actual westpac notes as is they would be paid no more than 85 cents on the dollar at most traders said
saitama bank ltd is issuing 100 mln swiss francs of convertible notes due september 30 1992 paying an indicated 1 1 4 pct lead manager credit suisse said
graham mccormick gop sells oil and gas stake
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
since the bank of england and market makers themselves are known to be in favour of the idea the sources said there was now a presumption that there would be scope for when issued trading to take place
packer who made the sale in january will be a director of bond media
norsk hydro saga seek drilling rights in gabon
the competitiveness of offers will be assessed by taking into account the standard differentials the cost of taking cocoa into store currently 2300 pounds sterling from cif landed and 3800 pounds sterling from cif shipping weights to in store and the cost of carry which currently is 1200 pounds sterling per month the icco said
he said the development bank of the philippines dbp and the philippine national bank pnb which own nmic had approached the soviet state owned firm in august last year
ethanol is produced primarily by a few large agribusiness firms including archer daniels midland adm and ae staley
however net borrowings remained the major part of total inflow accounting for 616 billion dlrs in the fourth quarter against 388 billion in the third quarter and 403 billion a year earlier the bureau said
dunkin donuts inc dunk 1st qtr jan 24 net
i would be extremely cautious to go either long or short at this point said jack ward president of the cocoa trading firm barretto peat
the senior bank official said a majority of japanese bank creditors are unwilling to provide any new credits to nigeria although about 80 pct have reluctantly agreed to accept rescheduling of part of their existing loans
dealers in the straight bonds noted that the market in them had been basis only for some time prior to the weekends news
the petrobras statement said the shipment of 22 mln barrels will be made by the saudis on march 24 as scheduled
lower ratings prevailed in steel and health care it said
marcor maar expects fiscal year profit
shares restated to give effect to 14 to one stock split in the form a 40 pct class a dividend in august 1985
walt disney issues 60 mln aus dlr eurobond
abeles said ansett would become the largest single shareholder in what he said was the fastest growing airline in the united states
united has assets of 90 mln dlrs
most japan firms not renewing iran term contracts
us department of energy secretary john herrington said he was optimistic about the chances of providing a more generous depletion allowance for oil and gas producers but added that the plan faces strong opposition from some members of the reagan administration
that spread has narrowed again
press reports that deutsche was planning a takeover of lloyds bank plc lloyl were without foundation he said
spot prices have since revived due partly to seasonal demand for gasoline and its output has risen
however grain trade analysts said the proposal has not been ruled out and that an offer might be made though not in the very near future
he told that billiton a fully owned royal dutch shell rdas subsidiary presented the demands to henk heidweiler a top aide to surinam military leader desi bouterse who visited the netherlands last week for official talks
one analyst said ruding wanted to bring interest rates down to reduce the government debt burden
roderick said changes were necessary to curb abuses but that he did not want laws that would hurt the financial markets or discourage fair price to all takeovers
the study was released earlier today
lawsons attitude was interpreted by banking sources as a clear rebuff to brazilian hopes of obtaining official cooperation in resolving its external debt crisis
they said this is the first capped frcd issue in hong kong
besides many participants had already shied away from bank issues following brazils suspension of interest payments last month traders added
it said each south atlantic share would be exchanged for one safco share and each independence share for 2822 safco shares
bowater industries plc bwtrl 1986 pretax profits of 480 mln stg exceeded market expectations of around 40 mln and pushed the companys shares up sharply to a high of 491p from 468p last night dealers said
nuclear metals nucm gets army contract
payments for the federal railways bond are also likely to burden the market
trigon exploration co inc operated the well from june 1979 to january 1981 for d
non callable for three years the issue is rated b 2 by moodys investors and b by standard and poors
bramalea ltd year net
they are scheduled to be delivered later this year
champion cha to expand alberta mill
standard and poors corp said it raised to a plus from a weyerhauser cos 150 mln dlrs of market auction preferred stock series a and b
municipal assistance said it will buy back at 102 the series 50 bonds in july 1994 and the series 53 and 54 bonds in july 1995
it is not always easy to meet the basic requirement that the trade should always be balanced one trade source said
north west telecommunications inc said it acquired the assets and customer base of com tel systems inc a telephone interconnect firm that operates in la crosse and stevens point wis
in band one the central bank bought 37 mln stg treasury bills and 72 mln stg bank bills at 9 7 8 pct together with 117 mln stg band two bank bills at 9 13 16 pct
roffman said caesars world has considerable growth potential and he is forecasting fiscal 1988 earnings of two dlrs per share
senate banking committee chairman william proxmire d wis said he planned to introduce legislation shortly to require greater public disclosure of corporate takeovers and fairer treatment for all shareholders
nonfarm payrolls expanded by 337000 jobs in february the average workweek lengthened by 06 pct and hourly wages rose by four cts he noted in a report
hoechst celanese said it has the option of divesting either the south carolina facilities of the former american hoechst or a package of polyester textile fiber facilities of the former celanese
it has highlighted the growing dependency on the middle east and the need to increase us production mcivor also said that he expected natural gas to play a greater role in the future in meeting energy needs
in its complaint bancroft said the tender offer materials and letters to shareholders are false and misleading and that the tender offer violates the investment company act of 1940
all sales under the line must be registered and exports completed by september 30 1987 the department said
culp inc culpo 4th qtr may two net
in the buyout a group led by first boston tendered march 13 for all outstanding allegheny shares at 2460 dlrs a share
royal dutch shells scallop petroleum co subsidiary said it will reduce the price it charges contract barge customers in new york harbor for heating oil by 25 cts a gallon effective tomorrow
home shopping hsn to purchase tv station
but it also does not want them to fall
also includes charges of 18 mln dlrs covering costs of workforce reductions relocation and chapter 11
nevertheless sales and turnover would finish the july 11 year at a high level porsche said
michigan general is offering to exchange 500 dlrs of increasing rate senior subordinated notes due march 1 1992 200 dlrs of non interest bearing delayed convertible senior subordinated notes due march 1 1997 and 2 shares of two dlr delayed convertible preferred stock with a liquidation value of 25 dlrs a share for each 1000 dlrs of the debentures
cuts were still insufficient in one production area that of hot rolled coils and further talks were needed
on may 18 data general said it will redeem 150 mln dlrs of outstanding 12 3 8 pct sinking fund debentures due 2015
bankers trust co will act as fiscal and paying agent
sharp rises in the pounds value could be checked initially through bank of england intervention but eventually the gains would force the bank to cut interest rates rates again
continental said it decided to deal with this change in its entirety in 1987
in 1985 the surplus was 1748 billion dlrs
other dealers also reported small scale intervention to stabilise the dollar after aggressive selling overnight in tokyo where the bank of japan also intervened again
each warrant will give the right to subscribe for one stg nominal of deferred stock at 750p during a specified period in the five years starting in 1988
if i were a bank im not sure i would have gone into broking whats going to happen when a lot of these golden handcuffs come to an end rivkin said
if approved by the canadian cabinet the officials said a monitoring system will be established in the next three or four months
originally the margin was set at 625 basis points for up to 50 mln dlrs and at 25 basis points for the remainder
shr profit 10 cts vs profit eight cts net profit 477853 vs profit 348384 sales 177 mln vs 173 mln nine mths shr loss 35 cts vs profit 45 cts net loss 1639216 vs profit 2305700 sales 562 mln vs 571 mln avg shrs 4698501 vs 5075717 note earnings in the 2nd qtr of 1987 were reduced by 3262000 dlrs or 69 cts a share from a charge reflecting elimination or transfer of certain product lines and operations at the companys racine wis
budget chief miller warns fed on interest rates
william reynolds said the offer is a highly conditional contingently financed bust up offer that seeks to deny shareholders the true value of their investment in gencorp
it has since been reaffirmed by the group of seven the us japan west germany britain france italy and canada
first city bancorp of texas which lost a record 402 mln dlrs in 1986 said in its annual report it expected operating losses to continue for the foreseeable future as it continues to search for additional capital or a merger partner
fees for the issue comprise 1 1 4 pct selling concession and 5 8 pct for management and underwriting combined
mine safety appliances mnes to sell unit
mize had bought about 9400000 shares or about 33 pct of dnas outstanding stock for 100000 dlrs cash
cox estimates that the bank of england has been active selling sterling over the past few days despite the lack of general market talk of such intervention and this has helped keep it below 160 dlrs
the export duty and gazetted price of palm kernel were left unchanged at 19115 and 95575 ringgit per tonne respectively
the issue is available in denominations of 1000 and 10000 dlrs
computer associates to acquire uccel corp for about 800 mln dlrs
cheltenham and gloucester building society is issuing a 50 mln stg eurobond due april 22 1992 paying 9 1 4 pct and priced at 101 1 4 pct lead manager union bank of switzerland securities ltd said
the company said its reliance segment sustained a significant operating loss for the full year 1986 due to the accounting problems and increased promotional and advertising expenses
poland renews paris club debt talks
the company said that no optional redemption may be made prior to april 1 1992 with or in anticipation of borrowed funds or senior or parity stock having an effective cost of less than 738 pct per annum
southwest currently has 123 mln shares outstanding
greece and turkey have long standing disputes over areas of the aegean and the presence of turkish troops in cyprus
american powdered makes metal parts for various industries
he made clear however that adjustment lending would continue to increase as a proportion of overall bank lending for some time
parent company turnover was unchanged at 256 mln marks
the transaction is subject to the approval of both companys shareholders the receipt of certain tax approvals and the continued employement of robert halmi sr and robert halmi jr the company said
iranian oil minister gholamreza aqazadeh is in the united arab emirates uae to discuss oil prices and the general market situation iranian officials accompanying him said
ausimont compo nv said it has sold the assets of its equipment and machinery division for about six mln dlrs to an investment group including the units management resulting in a modest pretax gain that will be included in first quarter results
in 1986 pre paid earned 25 mln dlrs on sales of 424 mln dlrs compared to net of 15 mln dlrs on sales of 198 mln dlrs in 1985
dbs which paues said began operations today brings together sandviks wholly owned us subsidiary strata bit corp of houston and diamant boarts petroleum activities in europe north america the middle and far east and africa
zimmer corp said it reached an agreement with its banks to boost its credit line by 43 mln dlrs
the stauffer sale prospectus has been sent in recent weeks to a number of companies expressing interest
he said more savings were required to maintain or possibly step up the present growth rate and to finance the countrys seventh five year development plan to be launched in july 1988
it invited bids by april 6 and payment date for the loan is april 10
unilever nv final div 1067 guilders making 1533 guilders vs 1482 guilders
gao will not likely suggest whether the certificates program should be slowed or expanded the gao official said
the europeesche which specialises in travel and recreation insurance had a premium income of 150 mln guilders in 1986
pickens sees continued slump in working rigs
us bank discount window borrowings less extended credits averaged 310 mln dlrs in the week to wednesday february 25 the federal reserve said
consumer energy costs rose 19 pct in february following a sharp rise last month the labor department said
any such restriction of reserves will not be a highly visible form of monetary tightening karnosky said
swedish mining and metals group boliden ab blds st forecast a return to profitability during 1987 after recording a 108 billion crown 1986 loss burdened by a massive write off
japan given little hope of avoiding us sanctions
institutional investors are expected to sell the dollar aggressively if it rises to around 14350 yen dealers said
the company said shareholders at the annual meeting approved an increase in authorized common shares to 19 mln from 10 mln and a name change to alfa corp
the study concluded that by 1995 the us will be relying on foreign countries for 50 pct of its oil more than the peak of 48 pct reached in 1977 and far above the 33 pct rate during the 1973 74 arab oil embargo
crude grades from 34 degrees api to above 40 degrees are unaffected
she predicts usx will earn 18 cts a share this year and 273 dlrs next year against large losses in 1986
instinet said the meeting date is subject to adjustment based on the length of time needed for the us securities and exchange commission to complete its review of the filing of merger proxy materials which instinet expects to make before the end of march
jayark corp jaya 3rd qtr ends jan 31 loss
merrills prime 1 commercial paper was not under review
first medical devices corp fmdc year loss
north american communications weighs possible sale or merger
an unstable lower dollar would also affect japanese investment in us bonds
scientific micro systems inc said it expects first quarter revenues to rise by about 60 pct to 24 mln dlrs compared with the 15 mln reported for the first quarter last year
the reserves comprise 1640779 tons proven reserves grading an average of 0163 ounces of gold a ton and 3262161 tons probable reserves grading an average of 0127 ounces of gold a ton
we are seeing from singapore and from japan clients keen to use up their quotas for purchase of particular instruments before the end of the fiscal year the senior trader added
australian wheat plantings are forecast to fall to 1040 mln hectares in 1987 88 from 1172 mln sown in 1986 87 australian wheat forecasters pty ltd awf said in its first preliminary crop forecast
ina earned more than 154 mln dlrs from exports of goods and services to 39 countries last year and ranks among yugoslavias leading export enterprises
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
earlier today general partners said it was prepared to raise its bid to 110 dlrs per share or even more in its bid for gencorp
the 13 member cartel is scheduled to meet on june 25 in vienna to review its december accord on prices and output
monsanto corps gd searle and co unit said it will report an operating loss for 1987 mainly due to expenses for research and development
the dollars fall without structural adjustments would cut japans current account surplus to two pct of gross national product gnp in 1993 the report said
the two sides in the rotterdam port general cargo dispute have agreed to appoint an independent chairman han lammers to preside over future meetings employers spokesman gerard zeebregts said
general acquisition also said it believes that gencorps board has an obligation to present any alternative transaction it may propose to shareholders in a manner that would allow for competing offers
petitioners have to show their remittances relate to genuine commercial transactions
westfield will increase its stake in northern star to about 45 pct from 20 as a result
its a reflection of what has happened in manufacturing industries said brian waterhouse at james capel and co
a government spokesman said the greek position was made clear to turkeys ambassador nazmi akiman when he met greek foreign affairs undersecretary yannis kapsis last week
pc quote inc pcqt year loss
on line software osi 3rd qtr feb 28 net
mts said the offer is conditioned on receipt of at least enough shares to give sosnoff a majority interest on a fully diluted basis the arrangement of sufficient financing to buy all caesars shares not already owned and pay related costs and approval by the new jersey casino control commission and the nevada gaming commission and state gaming control board
the world bank said it has loaned uganda 13 mln dlrs through the international development association ida the banks concessionary lending affiliate
they think they find good value real estate here which with long term and fixed capital investment is the kind of investment australia needs buttrose added
dunhill makes compact discs
several other banks queried by said much the same thing
coastal cgp hit with two billion dlr lawsuit
why not put the money in australia where entry is cheap and the currency looks stable but turning that capital into more permanent productive investment depends on government economic policy he said
the dollar opened at a record tokyo low of 14000 yen against 14070 80 in new york and 14115 at the close here yesterday
this weeks sudden fall in temperatures has affected large parts of the country and has caused fieldwork to stop in the ukraine it said adding that temperatures fell to as low as minus 30 centigrade in byelorussia
levitt designs builds and sells single family homes and has recently begun a number of new construction projectsthe company added
almost certainly we can look forward to slower growth in consumer borrowing if the equity shakeout continues he added
in a filing with the securities and exchange commission merrill lynch capital partners inc said it would receive a 30 mln dlr fee from the surviving company for acting as dealer manager of the merger after the borg warner deal is completed
central bancorp inc cban 1st qtr net
a company spokesman said tofutti will be reporting earnings for the last five months of calendar 1986 by the end of march and will then report calendar first quarter results
usair was halted on the new york stock excahnge for dissemination of the news
theodor stadelmann dealer with bank julius baer and co ltd in zurich said he expects the dollar to hold steady against the mark and swiss franc but to weaken further against the yen possibly to 140 yen
egypt has cancelled its april 2 tender for 200000 tonnes of any origin wheat for april 15 30 shipment trade and egyptian official sources said
phase two the second sale will be in a month or so the chrysler executive said adding that proceeds will be invested exclusively in the equities market
assuming an 18 mln acre drop in plantings us corn production will also decrease significantly
rank shares firmed in morning trading to be quoted at 712p at 1320 gmt after 697p at last nights close
shv said in a statement it had sought to gain 750000 ic gas shares under a 700p offer for ic gas ordinary stock but was informed that level was not reached when the deadline expired
wtc international inc waf 4th qtr feb 28 net
us bank discount borrowings 310 mln dlrs
hutton efh still interested in purolator pcc 
talks between unions and employers yesterday and today produced no result but fnv spokesman bert duim said the union was prepared to put their key demand for a 36 hour working week at the bottom of the agenda
st
rochester telephone rtc to buy canton phone
consolidate capital trust ciots 4th qtr net
without relief the company will incur losses of 287 mln bolivars this year 556 mln in 1988 733 mln in 1989 and 147 billion in 1990
the world bank has released in the last two months half of a previously agreed 80 mln dlrs industrial sector loan and lent 276 mln dlrs to modernise the countrys vital river transport system
it gave no year earlier figure
group bank net profit rose to 27552 mln marks in 1986 from 22273 mln the previous year and parent bank net profit increased to 18763 mln marks from 16158 mln
white house says trade bill generally good
baker told a house appropriations subcommittee the 15 billion dlr recapitalization plan approved by the house panel was sufficient while the 75 billion dlr plan in the senate passed bill was inadequate he also urged the house to reject loophole closing provisions in the senate bill that would restrict banking activities
operating costs are expected to average 201 dlrs per ounce of gold for the mine life and 171 dlrs per ounce in the first three years
citytrust bancorp inc citr 1st qtr net
many dutch banks have reacted favourably to the decision not to copy the last german discount rate cut but pierson warned it could actually add to uncertainty over the guilder
us treasury sets 10 billion dlr march 24 2 yr note sale 9275 billion new
it said it used about 20 mln dlrs of the proceeds to prepay principal on its senior secured notes
usacafes usf sets higher dividend
the us agriculture department currently forecasts this years ussr crop at 2101 mln tonnes and if realized this would be the third year since 1975 that the soviet unions grain harvest has exceeded 2000 mln tonnes
it added that one of the materials cited barite is a naturally occurring mineral routinely discharged into the sea during drilling operations
normally investors do not make a major capital commitment into an illiquid situation he said of nippon
minntech corp mntxo 4th qtr mar 31 net
brazil the major producer insists on quotas based on a traditional formula
dealers said main reason for the sell off was not technical
non callable for two years the issue is rated a 3 by moodys and a minus by standard and poors
it added however that gcc states would experience higher budget deficits this year because of needs arising from past recession and the difficulty of making fresh spending cuts
proposed offerings recently filed with the sec
bankers said such that could add another five billion baht of surplus funds to the local money market
ctc dealer to appeal canadian tire decision
total operating profits were 3497 mln dlrs and net earnings were 2063 mln dlrs for 1986
the adjustment to second quarter income for earnings per share was 1175000 dlrs
sunshine mining co 4th qtr shr loss 64 cts vs loss 57 cts
in fact many of the issues that have been tabled for discussion in the uruguay round of trade negotiations will be of more benefit to the developed countries he said
this brings the total help so far today to 517 mln stg and compares with the banks revised estimate of an 800 mln stg shortfall
it said the credit agreement and sale of black fin is expected to relieve its liquidity problems
maurice myers
channon said there was a greater protectionism sentiment in congress since his visit here last year as congress and the administration tried to find ways to reduce the us trade deficit which last year hit a record 1698 billion dlrs
the court overturned a claim by danny dattel that a case for damages should not be allowed after such a long interval
allied signal inc said it completed the previously announced sale of its linotype group to commerzbank ag of west germany
ecuador would repay that loan with crude once the oil pipeline is repaired
most expect fed policy to be neutral for bonds near term
india trade deficit falls
the party daily said that losses in the industry owing to waste and theft amounted to 73 mln roubles over the last two and a half years
the gilt market reaction was correct said bill martin chief uk economist at brokers phillips and drew
however the quick pace of foreign investment has heated up competition among european firms well heeled us institutional investors and major oil companies to snare choice domestic oil properties
chu jinfeng an official of fengbing county outside shanghai said factory workers get 60 yuan a month and three years unpaid leave to grow grain and can keep the profits
the company earlier reported 1986 profit rose to 1249000 dlrs or 83 cts a shares from year earlier 620000 dlrs or 41 cts a share
adobe systems inc adbe 1st qtr feb 28 net
rep
it sounds like baker wants it and if people are convinced a deal is going to go through the stock goes up said analyst phil pace of kidder peabody and co
japan must now be especially careful about a flare up in inflation with money supply growth accelerating he said
the earthquake which hit northern chile today registering 70 on the open ended richter scale caused no damage to the copper mine at chuquicamata a mine spokesman said
jerome sitter director of ascss cotton grain and rice price support division said the decision meant farmers have until april 17 to file a farm operating plan indicating how many persons would be involved in their farming operations
ecuador would repay venezuela in crude once it resumed its exports after repairing its pipeline to balao a task that would take an estimated five months
the securities will be listed in luxembourg
india details rain flood damage to grain in 1986
shr nine cts vs 22 cts net 700000 vs 2200000 revs 5400000 vs 5700000 avg shrs 7589344 vs 101 mln 12 mths shr 43 cts net 3500000 revs 216 mln note 12 mth figures not available for 1985 since company started operations march 31 1985
one power project will be supported by a 485 mln dlr loan the bank said
payments in 1988 were cut to 400 mln from 120 billion and in 1989 to 700 mln from 111 billion
boschwitz told the senate agriculture committee that applying the so called 0 92 provision to 1987 crops was supported by the reagan administration and would save approximately 500 mln dlrs including 266 mln dlrs in corn payments 90 mln dlrs in wheat and 30 mln dlrs in cotton
some trust bank pension fund acccounts and investment trusts were seen selling several hundred million dollars on the foreign exchange market here today accentuating the units tumble securities house dealers said
but a senior central bank official told that as far as he knew the idea was not being seriously considered now either in the us or in japan
the bank of englands announcement was quickly followed by barclays bank and national westminster bank which announced a half point cut in their base rates to 10 pct from 10 1 2 pct
the united states emphasis on its foreign trade deficit is misplaced and the countrys real problem lies in its large federal budget deficit the general agreeement on tariffs and trade gatt said
but others said that despite the rally today there were still several fundamental factors including demand which could cut the rally short
although baker appeared to patch over the rift at a hastily called meeting with west german officials monday he still faced a storm of criticism on his return to the united states on tuesday
it has been a fairly hectic trading week in raw sugar with china paying market levels for nearby shipments london trader woodhouse drake and carey said in its weekly report
shr loss 85 cts vs loss 88 cts net loss 2410000 vs loss 24660000 revs 240 mln vs 239 mln year shr loss 118 dlrs vs loss 81 cts net loss 3338000 vs loss 2275000 revs 1014 mln vs 1123 mln
fed adds reserves via customer repurchases
a dale mayo clearviews president and chief executive officer will retain a 50 pct interest in the company almi group said
we helped defeat the wine equity act two years ago but we will not stand by and watch our own farmers suffer from such protectionist ec measures bennett said
gambro ab gamb st 1986 year
southwest bancorp said it will commence an exchange offer for all of its 108710 issued and outstanding shares of 250 dlr cumulative convertible preferred stock on march 12
combined sales activity in cotton of 75200 running bales 44700 bales for the current year and 30500 bales for the 1987 88 bales were 56 pct below the prior weeks good showing the department said
now they are
i dont know whose going to buy them but at least this way it becomes a much more viable package said kim
construction will start in december and the factory should be ready by next october
japanese microchip makers are being strong armed into compliance with a us japan pact on semiconductors halting predatory pricing and opening japans market to foreign chips industry analysts said
the enlarged retailing operations of the lex automotive group now have a turnover of 530 mln stg
the industrial production index base 1980 stood at 109 in january compared with a downward revised 104 in december which was initially put at 105
president kjell nilsson announcing the 600 mln crown deal told a news conference boliden would now become a truly international concern with operations in brazil chile and other big minerals producing nations
humana hum declares shareholders rights plan
although many of the specific policies gorbachev has adopted are not new the intensity gorbachev has brought to his efforts and his apparent commitment to finding long term solutions are attributes that his immediate predecessors lacked
the bank of england said it forecast a shortage of around 250 mln stg in the money market today
the government has invited the imf to come to study the plan next monday
economists agreed that the employment data were negative for the credit markets in that they signal a healthier economy and no easing in the federal reserves monetary policy
data general reported a loss of 18 mln dlrs or six cts a share for the second quarter ended march 29 1986
oak said it will not make any cash payments to the tendering holders
this sale announcement follows the public float in march of around 13 pct of the bank of new zealand ltd the government has said it will also float part of the capital of other state owned operations including dfc new zealand ltd formerly development finance corp of new zealand ltd and petroleum corp of new zealand ltd
output of intermediate goods fell 16 pct between the two latest three month periods
west german retail turnover rose a real one pct in january compared with the same month a year earlier according to provisional data from the federal statistics office
ec ambassador tran van thinh made the formal charge to the surveillance body of the general agreement on tariffs and trade gatt gatt spokesman david woods told reporters
french official reserves 38868 billion francs at end feb vs 37595 billion end jan
the japanese ambassador to the us suggested that prime minister yasuhiro nakasone make efforts to present advanced proposals on trade issues when he visits washington next month
itoh to sell triguna stakes
shr 30 cts vs 28 cts net 5000000 vs 4600000 revs 1252 mln vs 1239 mln note 52 pct owned by dana corp dcn
j bildner jbilo sees improved results
heller said using a broad based commodity price index as an indicator for monetary policy would also contribute to stabilized currency exchange rates
a hearing on the settlement proposal is scheduled for march 27 the merger is subject to court approval of the settlement as well as to other conditions
we want to make clear that the guilder is just as strong as the mark he said
japan the biggest buyer imported 384622 tonnes of thai rubber in 1986 up from 348855 the previous year it said
it also helped the dollar rally sharply to a high of 18200 marks from a european low of 17880
the budget gave civil servants a 20 pct pay rise with effect from july 1 to compensate for inflation of more than 30 pct
this tax cut merely rolled back the inflation induced tax increases that occurred between 1978 and 1981 he added
evans and southerland computer corp is raising 50 mln dlrs through an offering of convertible subordinated debentures due 2012 with a 6 1 2 pct coupon and par pricing said sole manager hambrecht and quist inc
two other investigations into the disaster have also begun one belgian and one by the ferrys owners
in february the central bank also prohibited trading in bolivar futures the broker said
hutton added that pc acquisition also terminated its merger agreement with purolator
the length of the extension which is aimed at giving shareholders an adequate chance to assess revisions of a tender offer was not specified in cases where the minimum share conditions were waived
during the same period imports of agricultural products dropped 131 pct to 312 billion guilders from 358 billion
although banks are anxious to develop a market for medium term notes only a few companies such as electrolux ab and pepsico inc have gone so far as to arrange one
gmac saved some basis points with this technique said an officer on korths syndicate desk
reserve bank governor gerhard de kock said the agreement was a good deal both for south africa and the banks
should the present drought continue however production is estimated at around 20 mln bushels the letter added
ici today announced the formation of a new us drug company ici pharma which with its stuart pharmaceuticals unit it said will double its current pharmaceutical sales to 11 billion dlrs by 1990
but it has often turned out in the past that the price climate can quickly deteriorate forcing the central bank into a restrictive policy they said
prices were lower at this weeks coffee auction for all grades and qualities except better quality ab grades which held steady the coffee board of kenya said
although earnings will be poor for the next two quarters we believe that profits could begin to improve in the second half perhaps significantly and should surge sharply through 1988 and 1989 he said
oil refinery workers picketed the state owned empresa nacional de petroleo sa emp to prevent fuel lorries leaving the companys largest plant in puertollano central spain
one other small pipeline that total also closed has a capacity of 3000 to 4000 bpd and crosses the red river in fargo texas zollinger said
he said the rising value of the yen against the dollar has virtually erased the wage differential between the two countries and fujitsu would like to make the medium size multi functional business computers in the united states
thai agricultural ministry officials have previously forecast a decline in 1986 87 raws output to around 23 mln tonnes from 248 mln in 1985 86
the commission estimates that up to march 13 the temporary scheme cost between 63 and 68 mln european currency units 72 78 mln dlrs this is above the 50 mln ecu 57 mln dlr ceiling originally envisaged by the ministers
baker said the argentine loan was really the only one you can point to and criticize last year the republican controlled senate voted three times over the objections of the administration to cut us funding of development banks by the amount of these loans
i have spoken to every other opec minister and they are committed to making the accord work he said
because of the texaco filing some investors bid down its paper to the mid 60 area around 650 dlrs per 1000 dlr face value from around 95 friday said a dealer in high yield low rated bonds
as part of this policy i am now able to announce that subject to market conditions the government will sell its remaining shares in bp during the 1987 88 financial year the last sale of british government shares in bp was in september 1983
all of the economists agreed that the feds major concern now is recent weakness in the dollar which early this week was heavily supported by central banks
the contract to be signed by pdvsa and champlin petroleums parent company the union pacific corp unp will create a new joint venture called champlin refining
aluminum co of america aa regular dividend
output is projected to rise to 50000 tonnes in 1988 from 38000 tonnes this year as young trees mature
the national weather service said warnings of gale force winds remained in effect over lakes erie huron and michigan
pse to start option trade on baker hughes bhi 
a copper industry spokesman suggested that some assurance of permanence in the new clearing system would remove industry fears of uncertainty resulting from an endless process of review and change the press release said
ccc accepts export bonus for wheat to sri lanka
he said that sweet crudes such as those produced by his country were coming under price pressure because they were currently officially priced above sweet north sea grades and the united states west texas intermediate wti crude
we are still awaiting their decision he added asking not to be identified
sims said the bonus was 4244 dlrs per tonne and shipment was scheduled for june 20 30 1987
on february 20 brazil suspended servicing of 70 billion dlrs of debt to private foreign banks
morrison knudsen said the contract represents the largest army construction in this country since world war ii
buitoni did not disclose financial details about the acquisition
the company last month reported a 16 pct increase in 1986 net profits to 727 mln guilders after 623 mln in 1985
the company said burke is president and chief executive of allied comprehensive health inc abilene while bruce is a partner in the washington law firm of butler and binion
cooper said cross channel ferries were normally perfectly stable but had huge wide deck areas above the water level
chase manhattan corp said chase trans info a subsidiary of its chase manhattan bank na unit has bought borg warner corps traffic services business including an illinois processing center for an undisclosed sum
this agreement terminates litigation between the companies concerning previous attempts at a plan of reorganization bell is also free to continue talks with any third parties interested in an acquisition it said
shareholders at the meeting approved a change in the companys structure to a holding company format to be effective april 1
frazier said the stocks reports in particular were friendly for the market and soybean prices would jump three to five cents a bushel if the bell rang right now were getting our disappearance up
the project hopes to increase agricultural productivity exports and real farm income by providing credit to private farmers ranchers and agro industries the bank said
although bankers are eager to foster foreign investment in the philippines the pins idea is likely to run into stiff resistance by at least some members of the bank advisory committee because it would establish the precedent of some interest payments being made with paper rather than cash
the bankers who declined to be identified said the agreement also will give banks the option to convert their existing debt into term loans for 10 years with five years grace
zehntel zntl files for debt offering
the selling concession is 85 basis points while management pays 70 basis points
the san juan basin royalty trust said proved reserves as of december 31 were estimated at 2831 thousand cubic feet of gas and 1087000 barrels of oil
we expect understanding and support because it is in their interest as well mikulic said
the non callable issue is available in denominations of 5000 stg and will be listed in london
he said he believes gold prices will hold above the 400 us dlr an ounce level for the rest of 1987
hughes supply hug to make acquisition
providence energy corp said it completed the purchase of north attleboro gas co
although this may be due to extraordinary factors such as a sharp rise in car exports to rebuild depleted european stocks several economists said it could mark the beginning of a recovery
they said a closure of the strait of hormuz through which around eight mln bpd passes isnlikely because it is not in the interests of the us or iran they said
issue of contingent obligations such as performance letters of credit letters of guarantee or the receipt of quotations for interest rate swaps interest rate caps and collars from a panel of selected banks
oil revenue last year when prices briefly dipped below 10 dlrs per barrel probably totalled no more than 175 billion dlrs compared to a peak 1018 billion in 1981
reichhold rci exploring sale of european unit
it has increased taxes reduced public expenditure and refinanced its internal debt
moodys cited the effects of a weak operating environment on allieds asset quality and profitability
dominion has said that it was looking for a takeover in the us last year dominion unsuccessfully bid for avondale mills and has maintained a 120 mln dlr line of credit to be used for a us acquisition
it closed at 3440 to the us dollar today and is expected to rise to about 32 to the dollar by the end of this year foreign bankers and economists said
it will be necessary to maintain strict discipline on expenditure and members of this house will have to take the lead in encouraging wananchi ordinary people to be more frugal in satisfying immediate needs the president added
spc earlier announced its pump prices of 968 cents and 906 cents for 97 and 92 octane respectively for 015 gm lead petrol which is being sold in singapore from today in line with the ministry of environments regulations
but they joined wang in forecasting that the deal will not dilute computer associates earnings for the current fiscal year
he added that private investment in the textile and clothing industry in 1983 of 05 pct was less than one seventh the average manufacturing investment of 39 pct
the notes are guaranteed by dai ichi kangyo bank ltd
qtr ended jan 31 shr 92 cts vs 128 dlrs net 5415000 vs 7730000 revs 1142 mln vs 1129 mln avg shrs 5864000 vs 6030000 year shr 45 cts vs 140 dlrs net 2664000 vs 8536000 revs 3229 mln vs 3123 mln avg shrs 5885000 vs 6105000 note net includes lifo gains of 48000 dlrs vs 118000 dlrs for qtr and charges of 257000 dlrs vs 225000 dlrs for year
the report said zambian copper production fell to 463000 tonnes last year from 526000 in 1985
if we cannot get that then no amount of money can compensate us greenfield also said samjens could sell its holdings in burlington for 95 mln dlrs
the bundesbank is unlikely to change its credit policies at its central bank council meeting on thursday as exchange rates and short term interest rates have stabilized over the past few weeks money market dealers said
nordic investment bank has zero coupon bond
poehl expressed surprise that financial markets had so far ignored improvements in the us deficits
the department said producers of wheat other than winter wheat may use the 0 92 option if they were preventedf from planting their intended acreage with wheat for harvest in 1987 because of any natural disasters which occured in 1986 or if the farm is located in a county approved by farmers home administration for emergency loans for such disasters that occurred in 1986
contrary to the conventional wisdom therefore the 1981 tax cut is not the root cause of the extraordinary budget deficits of the past few years sprinkel said
of the plants 800000 tonnes annual capacity 425000 will be smelted into 218000 tonnes of aluminium and the remaining 375000 will be exported the official said
four sugar cargoes sold to china yesterday trade
the soviets will try to out capitalize the capitalists and buy corn before prices get too high the official said
they said they face problems because of the freeze requirement that any payment due to be made by a brazilian bank under the trade facility must be deposited instead with the central bank
this was partly due to west germanys inability to uncouple itself from us interest rate trends but also reflected concern among monetary conservatives in the bundesbank central bank council about excessive monetary growth which raised fears of domestically produced inflation bank economists said
the treasury secretary warned that if the issue is left unresolved we cant look towards a greater capital replenishment here that would mean the us would use another multilateral development bank like the world bank as its principal vehicle for lending tied to fundamental economic reforms in debtor nations
wtd industries wtdi to sell debentures
a military source in the gulf has said iran also set up a launching site for the silkworms on captured iraqi soil in the faw peninsula within range of kuwait
dealers said that the form of the reporting has not yet been spelled out
the company is also marketing an extended line of laser tag kits which shoot rays of light and tell you when youve hit someone
shr 54 cts vs 40 cts net 11105000 vs 8310000 sales 2827 mln vs 2903 mln avg shrs 20599000 vs 20760000 note per share results restated for may 1986 three for two stock split
the number out of work fell to 28439 down 1142 compared with the previous month
oper shr 22 cts vs 22 cts oper net 2058000 vs 2129000 revs 445 mln vs 357 mln avg shrs 9589000 vs 9348000 year oper shr 94 cts vs 94 cts oper net 8889000 vs 8570000 revs 1550 mln vs 1234 mln avg shrs 9450000 vs 9174000 note net excludes discontinued operations gain 1637000 dlrs vs loss 720000 dlrs in quarter and gain 4679000 dlrs vs loss 720000 dlrs in year
japan has reiterated it has no plans to bow to pressure to give foreign telecommunications companies a major role in a planned new firm
the company said it has also demanded repayment of a 150000 dlr loan made to united western
corrected elder beerman stores corp eldr 4th qtr
us gnp price deflator rose 07 pct in 4th qtr unchanged
if we have failed at the ico at least we have tried dauster said adding now it is time to go and sell coffee but brazil is keeping its marketing options open
that incident is still being investigated the spokesman said
in the 12 months to end january industrial production was 1048 pct above the 12 months to end january last year while in calendar 1986 output was 1089 pct above 1985
italy has over recent months announced a series of deregulation moves in response to a european community directive aimed at creating a genuine common market in goods services and finance by 1992
it also said it was raising its quarterly cash dividend 16 pct to 32 cts per share from 275 cts per share prior
citicorp says placing brazil loans on cash basis could cut 1st qtr net by 50 mln dlrs
alusuisse shares suspended on capital cut news
the report said that latin america continued to emerge slowly from the deep recession that began in the early 1980s with gross domestic product gdp edging up to nearly four pct from 35 pct in 1985
what we do know is that a substantial exchange rate adjustment has already been made he said
first boston salomon brothers and shearson lehman co managed the deal
we have had one year of reasonably good results
link technologies develops and markets computer terminals wyse also said
federal reserve board vice chairman manuel johnson said that some us banks have been too rigid in talks with lesser developed countries on debt refinancings and warned that a breakdown of the renegotiation process could be harmful
a taft spokeswoman referred all questions to tvx and salomon
drexel burnham lambert inc and donaldson lufkin and jenrette securities inc are co underwriters of both issues which allied expects to offer in early june allied said
2 it had purchased no additional fairchild shares and had sold 6700 shares on the new york stock exchange jan
i am sure we will see a lower current account deficit for next year and a fall as proportion of gdp australia posted a 1382 billion dlr current account deficit in 1985 86 and keating said the latest monthly figures showed an encouraging trend
he added an accord with the international monetary fund imf could be a very helpful support
trail smelter revenue was 356 mln canadian dlrs in 1986
nationals spirits brands include gilbeys gin and vodka dekuyper liqueurs and windsor supreme canadian whisky
loans for financing hong kongs visible trade rose 34 pct to 3672 billion dlrs after a 18 pct rise in december
japan trade ministry asks trade houses exporters to reduce dlr sales sources
the rate will be reset quarterly according to the formula of 2244027 minus the product of 18097 times three month libor
the gain will come largely through increased imports to the united states he said
shr loss 15 cts vs profit nil net loss 392428 vs profit 1255 revs 6371092 vs 3031091 avg shrs 2544000 vs 1440000 year shr loss 13 cts vs profit seven cts net loss 274951 vs profit 100534 revs 181 mln vs 108 mln avg shrs 2072153 vs 1440000
zimmer of merrill lynch said she would be making a slight reduction of about one mln acres in her planting estimate to around 64 mln acres
mellon bank corp is raising 150 mln dlrs via an offering of deposit notes due 1992 with a 745 pct coupon and par pricing said sole manager first boston corp
the deficit in transfer payments widened to 370 billion marks from 269 billion largely due to a sharp jump to 23 billion marks from 200 mln in payments to the european community budget
it said rothschild in 1986 originated 500 mln dlrs of mortgage loans and its loan servicing portfolio stands at 14 billion dlrs
the non callable bond is available in denominations of 1000 and 10000 australian dlrs and will be listed in luxembourg
the treasury said it received 309 billion dlrs of bids for the three month bills including 10 billion dlrs in non competitive bids from the public
philippines to repay some principal in 1987 89
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 company said shareholders of record on march 17 have 30 days to exercise rights for the notes
if this pattern continues then oil companies will bid up the price of oil as they purchase for their refineries trading managers at several companies told 
elsewhere in the eurobond market business was extremely quiet with virtually no activity seen in the dollar straight sector which has been becalmed of late traders said
all of the movement occurs at the opening afterwhich volume dwindles and momentum fades connery said
the company did not name an underwriter for the sale
total financing approved by the bank for projects trade and technical and special assistance fell to 7569 mln islamic dinars in the year ended september 4 1986 from 10014 mln the previous year
diamond shamrock offshore said it has a 4615 pct interest in the block phillips petroleum co 2885 pct and santa fe energy partners lp sfp 2500 pct
in response to the growing anger and pressure by the us semiconductor industry president reagan friday announced he intended to raise tariffs as much as 300 mln dlrs on japanese electronic goods in retaliation for japans failure to abide by a 1986 us japanese semiconductor agreement
cra said it was deferring consideration of a dividend until later this year to provide the benefit of dividend imputation to its shareholders
hungary devalued the forint by a similar amount last september 23
the money must come either through equity or debt and baker said that developing nations investment regimes do not support enough equity investment so youve got to have some debt there commenting on the us trade deficit baker said i think youre going to see a 15 to 20 billion dlr reduction this year
walter grossmman s
they the ministry dont want to see cable and wireless with a reasonable share and they think of all sorts of strategies to reduce that share one said
terra mines ltd tmexf year loss
saudi arabia bought 500000 tonnes of spanish barley last year
the conversion of debt into equity was regarded as an important additional step towards debt consolidation
syeduzzaman said the export target has been set at 900 mln dlrs this year against 626 mln in 1981 82
texaco tx reserves down despite lower output
the agency received in london quoted him as saying that iran did not need missiles to close the strait 24 miles wide at its narrowest because we can close it with artillery only he added we have the longest coasts and the highest interest here and the small southern gulf states have a lesser interest compared with us and therefore it is natural for us to protect the security of the strait of hormuz more than others
the opec president said producers such as kuwait venezuela and indonesia were having less problems with output than producers like his own country because they exported oil products
period ending jan
iowa beef a subsidiary of occidental petroleum corp said it is beginning to take applications for permanent positions at the plant
if more are tendered they would receive 29 dlrs in cash and six dlrs in debentures and a warrant to buy stock in the new company in exchange for each share
us dlrs
corrected lilly industrial coatings inc licia 
terms were not disclosed
ah robbins which is in chapter 11 said it filed the report with the us trustee overseeing its case
the february order increase was led by transportation equipment up 111 pct after an 180 pct decline in january
brazil the third worlds largest debtor last month declared a moratorium on interest repayments
ec commission defends farm program
the company said maryland alliance wanted the merger blocked on the grounds that ncnb inadequately served the credit and financial needs of low income and minority communities in its markets
fed approves amsouth aso affiliation
susan segal senior vice president of manufacturers hanover said the swaps not only reduce mexicos debt burden but help to recapitalize local industries that may have been squeezed out of the local capital markets
terms of the acquisition were not disclosed
he notes that commodity prices are traded daily in auction markets and a commodity price index can be calculated on a virtually continuous basis
aim telephones aimt sells debt to shareholder
team a former signetics corp unit assembles integrated circuits in southeast asia and is itself buying an assembler
theyre well supplied here said richard may senior analyst at barclays de zoete wedd ltd in tokyo
data architects inc drch 1st qtr feb 28 net
the bank said in a statement that it forecasts a small net cash injection into the system over the settlement week
indonesia and turkey already have purchased 7500 and 5000 head of dairy cattle respectively under the program
shr 22 cts vs 13 cts net 7121000 vs 4481000 revs 374 mln vs 228 mln avg shrs primary 30067000 vs 29735000
ims international inc imsi sets quarterly
he said bankamerica will continue to reduce staff and operations noting that expense growth in 1986 increased only one pct over 1985 expenses
amc was in need of a financial savior because of its losses of more than 800 mln dlrs since 1980 and pressures in france for renault to cut its backing
de laurentiis entertainment group inc said embassy communications a californai general partnership affiliated with coca cola co ko plans to sell its 101 pct stake in the company
avg shrs not given
the company said the offer represents a major step in restructuring the company
unfavorable late winter weather conditions in the main wheat growing areas of yugoslavia indicate dimmed prospects for the emerging winter wheat crop the us embassys agricultural officer in belgrade said
at a meeting this week in paris senior government officials from major nations are considering an organisation for economic cooperation and development oecd staff report that forecasts a continuing large japanese trade surplus they said
nominal gdp is expected to grow by roughly five pct this year from 5000 billion francs last year broadly in line with earlier forecasts
the company said it will pay second quarter accrued dividends to the redemption date of 53 cts per share on the 640 pct stock 56 cts on 684 pct and 70 cts on 848 pct
baker also urged the fund to develop alternative medium term economic scenarios for countries that can help us focus even more clearly on the most important imbalances by identifying options for addressing them and analyzing the implications of these options he said also that further work should be done on finding paths that lead toward possible medium term objectives
the pivot was the 18th ship hit this year in the maritime extension of the 6 1 2 year old iran iraq war
uk grain exports continue to rise sharply
combustion engineering inc said it expects first quarter earnings to be 20 to 25 pct below the year ago 136 mln dlrs mainly due to financing costs resulting from the january 1987 acquisition of accuray corp
a total 59000 tonnes of current series white sugar received export rebates of a maximum 45678 european currency units ecus per 100 kilos at todays european community ec tender the uk intervention board said
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 soybean meal sales to iraq includes 180000 tonnes for delivery during the 1986 87 season and 120000 tonnes during the 1987 88 season the department said
still the fact there is no physical delivery possible presents certain credit risks as well
cotton for december delivery was 135 cents higher at 7095 cents a lb at midsession after peaking this morning at 7125 cents
obviously a lot of prospective buyers believe nabisco should pay a higher yield because of that traders also asserted that the higher yield in fridays pricing reflected the total debt issuance of one billion dlrs so far this year by nabisco
precambrian earlier reported a 1986 loss of 534 mln dlrs compared to profit of 45 mln dlrs in the prior year
general electric corp said its first quarter results were significantly higher due to the strong results of rca which was acquired last year
the company said the wireline services operations being sold are in lafayette houma and harvey la alvin odessa and longview texas and moore okla
fed adds reserves via customer repurchases
it was chinas largest joint venture so far they said
a cibc spokesmn said the issue yields 49 basis points over equivalent canadian treasury bonds
among the conditions are that santa fe enter into an agreement to indemnify kansas city for any contigent liabilites of southern pacific existing as of the closing date and that the financial condition of southern remain largely unchanged from today onward
the drastic cutbacks in us drilling last year are rapidly deflating the united states natural gas bubble which could bring spot shortages in gas supplies next winter and a modest recovery in the oilpatch industry analysts said
terms will be fixed on march 19 and payment date is march 30
madagascar coffee production seen lower in 1987
oper shr 102 dlrs vs 82 cts oper net 174 mln vs 149 mln revs 27 billion vs 24 billion nine mths oper shr 254 dlrs vs 264 dlrs oper net 438 mln vs 492 mln revs 82 billion vs 74 billion note 1987 3rd qtr and nine mths includes after tax 82 mln dlr or 49 cts a share gain for increase in equity of union texas petroleum holdings inc for initial public offering
investment firm boosts purolator pcc stake
it might be more difficult to find more oil and more oil internationally at these levels he added
merrill mer sells new zealand dlr notes
the put option after seven years was priced at 120 pct to give the investor a yield to the put of 753 pct
we are anxious to develop our life assurance business group managing director peter dugdale told a news conference
japan ministry says open farm trade would hit us 
it also followed celebrations yesterday of what baghdad hailed as irans failure to achieve victory during the iranian year which ended on saturday
bumpei otsuki president of the influential japan federation of employers associations nikkeiren told reporters the yen might rise as far as 140 to the dollar the us economy is not good and as long as the us economy is not good the us will put various pressures on japan the yens level depends on the condition of the us economy rather than japans economy and as long as the american situation is bad the yen will continue to rise he said
the company said hambrecht and quist president william r
west germany reschedules sierra leone debt
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
trading volume in london new york and tokyo alone last year averaged nearly 188 billion dlrs a day according to a joint central bank study about double the previous estimate made just two years earlier by the group of thirty private research group
carolco pictures inc said it signed a letter of intent to exchange 22 mln of its shares for all orbis communications inc stock within the next 60 days
the intervention rate has stood at eight pct since it was raised from 7 1 4 pct on january 2 as the french franc came under pressure ahead of the ems realignment on january 11
naturally that would mean a sharp bond price fall
in nominal terms gnp rose 05 pct in the october december quarter reflecting stable prices after a one pct increase in the previous three months the agency said
alleghany said cash will be paid in lieu of any fractional shares of its stock
however there is no formal link and the discount rate was not adjusted following the march 23 changes
the acquisition has been made possible by the efforts of its major shareholder pratt and co financial services pty ltd battery group said in a statement
shr loss 10 cts vs loss 13 cts net loss 197779 vs loss 245190 revs 40 mln vs 31 mln
ic industries inc called for redemption 1136 mln dlrs worth of securities
the february total represented a 49 pct decrease from february 1986
but they would be given a much greater role under an idea being floated by governor robert heller who joined the board last august
an extraordinary loss of 504000 dlrs in 1986 resulted from the write off of assets
if future dividends are not declared after the april exchangeable preferred quarterly payout future payment will depend on the amount of dividends received from westcoast transmission co wtc bc resources said
todd shipyards corp said it omitted payment of the quarterly dividend on its common stock and lowered the dividend on its series a preferred stock to 75 cts from 77 cts a share
he said the united states must also do its share pressing for reductions in the federal budget deficit through spending cuts
analysts noted that a general collapse in exploration and production volumes was partially offset by earnings from chemicals rising to 462 mln stg from 205 mln in 1985
shr 24 cts vs 15 cts net 24057000 vs 14508000 revs 1561 mln vs 1112 mln nine mths shr 63 cts vs 40 cts net 63183000 vs 36464000 revs 4050 mln vs 2958 mln
entertainment em may seek crazy eddie crzy 
hutton had been in talks with purolators adviser dillon read and co since late december a hutton spokesman said
the alternatives are between an autumn london conference for another pact without economic clauses but a different voting and budgetary structure or a geneva based conference next year for a new pact with economic clauses he said
participants in the new well along with sterling are trafalgar house ltd of the uk and texstar north america inc
but how rates move in the long end will depend strongly on foreigners one portfolio manager for a large securities investment house in frankfurt said
last sunday when transcanada announced its offer dome said it was also in talks with two other companies but refused to identify them
but it said japan would continue its good performance on inflation with a zero figure expected in 1987 compared to a 06 pct rise in consumer prices last year
also issued today was a 40 mln dlr five year offering from toshiba international finance netherlands carrying a 7 3 8 pct coupon and priced at 101 1 2
mees said the soviet firm technoexport which is developing oilfileds for south yemen has substantially increased its initial reserve estimates and recommended a pipeline with an eventual 500000 bpd capacity
theyre obviously having operational difficulties
shr 11 cts vs nine cts net 677498 vs 461485 revs 6271010 vs 5135729 year shr 81 cts vs 20 cts net 4406065 vs 973967 revs 265 mln vs 141 mln avg shrs 5457339 vs 4978965
this follows a 319000 gain in january revised down from a previously reported 448000 increase
us current account deficit record 3684 billion dlrs in 4th qtr 1986
national city corp 1st qtr shr primary 87 cts vs 83 cts
investors may be showing some signs of indigestion remarked one trader
bailey said his attendance at the two day meeting which ends tomorrow demonstrated the us recognises the need to adjust its policies to the changing market environment
glickman said the change would make the program 30 pct less expensive to operate
the department revised downward decembers sales to a 121 pct rise to 768000 units from the previously reported 127 pct increase
french commercial bank credit commercial de france has split each of its shares into four to increase the number of shares on offer when it is privatised at the end of this month a company official said
there is considerable divergence with the banks
i dont think trade friction will be solved all of a sudden by the visit he said
the oil tax and customs user fee have already been the subject of formal gatt dispute panels set up outside the uruguay round to rule on the legality of the practices
park communications inc parc 1st qtr net
in 1987 also commerzbank planned to open a representative office in istanbul
house 0 92 farm proposal seen sparking debate
woolworth holdings plc wlukl said it would make a 244 mln stg agreed bid for superdrug stores plc valuing the companys shares at about 696p each
oper shr loss one ct vs loss 11 cts oper net profit 89000 vs loss 323000 revs 9603000 vs 6116000 year oper shr loss six cts vs loss 21 cts oper net profit 158000 vs loss 629000 revs 346 mln vs 228 mln note 1986 net excludes tax credits of 170000 dlrs in quarter and 321000 dlrs in year and gains on termination of pension plan of 82000 dlrs in quarter and 190000 dlrs in year
before seasonal adjustment weekly earnings last month averaged 30759 dlrs up from 30513 dlrs in january and up from 30066 dlrs in february 1986
but previous discussion of the reporting requirement considered firms listing the closing price of a given security as well as the high and low for the day
he said the price royal dutch shell group rd sc paid for publicly held shell oil co shares in 1985 was 51 times cash flow
the aggregate value of the distribution is 9758 mln dlrs
the maximum size of the buffer stock in the new pact is the same as under the present one 400000 tonnes with provision for an additional contingency buffer stock of 150000 tonnes
funaro has said brazil acted to protect its reserves but wanted to avoid a confrontation
the bank of england said it has revised its estimate of todays shortfall to 800 mln stg from 750 mln before taking account of 170 mln stg morning assistance
noranda to sell 150 mln dlrs in debentures
gencorp officials had no comment on general acquisitions statement but a spokesman reiterated an earlier request to shareholders to wait until its board renders an opinion before making a decision on the general acquisition tender
venezuela has obtained more than 300 mln dlrs in financing for industrial projects and increased its lines of credit for import financing finance minister manuel azpurua said
world bank report criticises peru economic plan
mediq med in american medical ami unit buy
ain leasing corp 3rd qtr jan 31 loss
canadian money supply m 1 falls 291 mln dlrs in week bank of canada said
the comibol miners strike entered its fifth day to press for higher wages and more funds for the mining nationalised industry
in an attempt to generate more foreign business representative offices would be opened this year in tokyo hong kong moscow and prague
mulford in his congressional testsimony urged the banks to explore different options
the union said talks with management over the proposed move had broken down
pessimism over the effects of a prolonged dry spell on the coming bahian temporao cocoa crop is rising with trade forecasts generally in the 20 mln to 25 mln bag range against 25 mln to 30 mln a fortnight ago
the commodity credit corporation has accepted a bid for an export bonus to cover a sale of 12500 tonnes of wheat flour to iraq the us agriculture department said
that provision was later broadened by the subcommittee to include 1988 crop winter wheat
shr 35 cts vs 25 cts net 1590000 vs 1140000 revs 322 mln vs 230 mln year shr 116 dlrs vs 68 cts net 5300000 vs 3100000 revs 1100 mln vs 854 mln
american petroleum institute president charles dibona said no options should be rejected to combat growing us dependence on foreign oil
we expect a much larger oil search in papua new guinea and discovery of much larger volumes of oil similar in quality to light bass strait crude fesharaki said
it would raise oil and gas production the equivalent of 325000 barrels a day at a cost of 740 mln dlrs a year
the gross national product gnp of the 24 nation bloc of western industrialised countries is forecast to grow by only 225 pct both this year and next even slower than last years 25 pct growth rate
peter valli vice president of borg warner corp and president of its industrial products division will become president and chief executive officer of the new company according to clayton
the speculation pushed borg warners stock up 1 3 8 to 48 1 2 in heavy trading
fire protection and security group wormald international ltd woias said british listed holmes protection group inc has agreed to issue it with 615 mln common shares of one us cent par value at 172 stg each
the two firms will later set up a joint venture to produce the polyphenylene resins and compounds which will be marketed independently under their respective trademarks
leigh pemberton opposes takeover protection rules
carolin also said it expects to receive results of further tests and assays of the tailings within two to three weeks
a bank official attributed the increase mainly to taiwans growing trade surplus which increased to a record 168 billion us dlrs in 1986 from 112 billion in 1985
the severe conditions with suppliers and creditors arose from an unfavorable ruling last monday by the us supreme court in texacos ongoing dispute with pennzoil co pzl over the acquisition of getty oil co in 1984
henley said it held discussions with sante fe concerning the acquisition by henley of bankers leasing and financial corp and certain sante fe transportation and real estate assets
steel technologies inc said it agreed to form a 50 50 joint venture with mitsui and co ltd to make steel products
six other people associated with the bank were jailed in 1983
a failure to do so could have grave consequences for the industrys continued ability to provide its customers with reliable natural gas said tennessee gas transmission co president rc thomas
the spokesman declined to identify the other party or parties involved in talks or whether a complete takeover was under discussion but said an italian newspaper report that ferruzzi was studying the possibility of advancing an offer for 13 european cereal processing plants owned by the us group cpc international inc cpcn was incorrect
yields on these securities to be fully paid by dates from 2011 to 2017 range from 721 to 870 pct
if we can take care of investment confidence the potential to recover strongly is great a banker said
owens corning fiberglas corp said it has completed the previously announced sale of its three foam products plants to atlas roofing corp for undisclosed terms
for harvesting to resume as normal the rains would have to stop long enough for the soil to dry and allow farm machinery to operate
texas weekly crop report
he said the south korean won would be revalued against the dollar gradually but added we do not believe in rapid one shot changes in the value of the won the won fixed at 83970 to the dollar today has risen six pct against the dollar since the beginning of 1986
zambia has just completed a new round of imf talks on its foreign exchange system and has obtained enough commercial loans to pay off its imf arrears for 1985 and 1986 paving the way for a new stand by credit
for the year ago first quarter wilson reported net income of 28000 dlrs including a 103000 dlrs credit on sales of 158 mln dlrs
last year the company made 40 acquisitions the largest being glidden
flowers industries inc flo 3rd qtr march 7
california first bank cfbko 3rd qtr net
however the pick up seems to reflect an unsustainable pace of inventory building and the prospect for the full year is still for real gross national product growth of about 2 1 2 pct he said
for the full year he said he expects the computer maker to earn about 240 dlrs a share
general host corp said it will report a loss from continuing operations and a sharp decline in net income for the year ended january 25 1987 due to substantial operating losses in its franks nursery and crafts unit
turkish inflation increases in march
cal fed income partners lp said it has acquired two shopping centers for a total price of 184 mln dlrs
fn results hit by strikes dollar in 1986
but critics have been warning for years that the constant exposure to the drugs is helping bacteria learn to resist the drugs
gencorp is involved in tire and plasticmaking and aerospace as well as broadcasting
however because of a pledge the made last year to georgias public service commission the increased cost will not be included in the utilitys retail electric rates
signtech inc nine mths jan 31 net
supermarkets general corp 4th qtr 50 cts vs 52 cts
tiverton petroleums ltd nine mths dec 31 net
even today it pressured the market
official reports show yugoslavia ended 1986 with hard currency debt of 197 billion dlrs
the adjusted world price is at average us producing locations near lubbock texas and will be further adjusted for other qualities and locations
for the developing countries the gross domestic product another measure of economic growth was expected to fall to 30 pct from 35 pct last year
but two top german officials state secretaries otto schlecht and hans tietmeyer told reporters bonn saw no need at the moment for action to bolster the ecs biggest economy
so far today the bank has provided the market with assistance worth 646 mln stg
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
senate wants japan semiconducter pact enforced
kleer vu industries to sell cosmetics unit
industry grew 121 pct including capital goods by 216 pct and consumer goods by 203 pct while services were up 83 pct
the official international business newspaper today published chinas demands in a editorial to coincide with the visit of us secretary of state george shultz
moodys downgrades gelco gel and units debt
the foreign currency purchased was used by the treasury to repay foreign debt and did not affect the banks foreign exchange reserves
president suharto in an opening speech to the indonesian petroleum association said indonesia was ready to extend contracts held by foreign oil companies on producing areas
but analysts were not so certain saying that the evergo group which has a reputation as a corporate raider may team up with lai sun garment for a takeover
domestic orders decreased by five pct to 96 billion marks from the previous year and foreign orders fell 14 pct to 59 billion it said
the company said it intends to issue one share of fisher scientific for each 16 henley shares held to shareholders of record march 26
the gain is slightly higher than the expected gain the company predicted in february because additional shares of the unit were sold
sight deposits of commercial banks at the swiss national bank fell 464 billion swiss francs to 788 billion in the first 10 days of april the national bank said
shr 36 cts vs 36 cts shr diluted 34 cts vs 31 cts net 1679000 vs 1418000 sales 1472 mln vs 1215 mln avg shrs 4608000 vs 3963000 avg shrs diluted 5585000 vs 5463000 nine mths shr 104 dlrs vs 86 cts shr diluted 93 cts vs 77 cts net 4387000 vs 3393000 sales 4203 mln vs 3387 mln avg shrs 4233000 vs 3948000 avg shrs diluted 5564000 vs 5468000
however gold stocks in the us and canada have risen far faster in recent months than the price of the metal itself causing concern among analysts that a correction lies somewhere in the future
we simply did not expect prices to rise so much a rabobank spokesman said since the pricing the bond price index has risen 09 to 1173 and the average state loan yield has fallen accordingly to 604 pct
britain today called on japan to increase foreign imports or risk the rise of protectionism and the harm it would bring to it and other trading nations
transcanada would not detail the profit level
graphic industries inc grph 4th qtr jan 31 net
mosts analysts expect a modest draw for the week ended march 27
illinois co ops other members include such regional cooperatives as indiana grain based in indianapolis goldkist of atlanta ga midstates in toledo ohio farmland industries in kansas city mo farmers commodities des moines and harvest states in minneapolis
but the calculations were based on a time when trade was booming and credits still flowed freely he said dismissing the estimate as a theoretical projection based on a high point which has no real scientific evaluation a foreign trade ministry official said polish exports to the us in the late 1970s averaged around 400 mln dlrs annually and had fallen by half since the sanctions were imposed
japan given little hope of avoiding us sanctions
tbg said the decline in profits was mainly caused by losses in container rental activities
the suspension effects the march 15 payment and it said it does not expect to pay preferred dividends in the forseeable future
an irri statement said lampe 56 is currently senior adviser to the german agency for technical cooperation at eschborn and was a former head of the agriculture section of the federal ministry for economic cooperation
the new offer values the diversified auto parts manufacturers 2722 mln ordinary shares and 1322 mln first participating preference shares at 2022 mln dlrs
the conversion price has been fixed at 30 5 8 dlrs compared with last nights close in the us of 25 1 2 dlrs
this lowered the companys debt to capitalization ratio from 45 pct at the end of 1985 to 35 pct it said
we consider this matter is now closed weinberger said four us destroyers attacked the platform about 120 miles east of bahrain in the central gulf with fire at 0700 edt weinberger said
he said the most attractive new power supplies are those with short lead times which can be built in modules
triangle said no agreement has yet been reached and there can be no assurance that one will be reached
ionic a maker of circuit boards had revenues of 84 mln dlrs and pretax profits of 232000 dlrs in 1986 up from revenues of 59 mln and pretax profits of 204000 dlrs in 1985 circuit systems said
usda forecasts brazil argentine soybean crops
customs figures show it imported 171118 tonnes of copper and alloy in calendar 1986 down from 355652 tonnes in 1985
us agriculture secretary richard lyng said he is pleased the european community plans to offer a global farm reform plan at gatt later this month although the united states opposes key parts of the proposal
usda estimates canadian crops
czarnikow says in its latest sugar review
for the fourth quarter the company reported profits rose 10 pct to 117 mln dlrs or 178 dlrs per share compared with 1985 fourth quarter results of 106 mln or 164 dlrs per share
the us deficit which we all decry has been in a sense the place into which everyones export led strategy for growth has gone the huge surpluses of japan and west germany have fed on this deficit so something will have to give and it will be possibly a traumatic experience he added
the spokesman said the move would help raise company values required to pay dividends under canadian law
in addition the spokesman said the company had put into production an oil well in the altamont bluebell field utah
senator richard lugar of indiana ranking republican on the us senate agriculture committee has not decided whether to introduce an administration backed bill to apply the so called 0 92 provision to 1988 through 1990 grain crops an aide to the senator said
rainfall was lighter in other provinces
acc corp 3rd qtr net
the company said it plans to sell 250 mln dlrs of notes due 1997 and an equal amount of debentures due 2017
he declined to be more specific
the company said the dividend on the pre split shares was increased to four cts from three cts
as we all have heard this morning the president is fully aware of this situation subroto said
canadian published reports quoting government sources say the two countries are close to reaching a trade deal and it will involve eliminating border tariffs and many non tariff barriers over the next 10 to 12 years
us wheat growers want eep to soviet union
qtrly div 175 cts vs 175 cts prior pay april 20 record april 2
caterpillar inc cat 3rd qtr net
a further 550 mln rand will be borrowed from a blocked account administered by the south african government for the eventual repayment of about 13 billion rand in short term loans
treasury balances at the federal reserve fell on april 10 to 3373 billion dlrs from 3523 billion dlrs on the previous business day the treasury said in its latest budget statement
call money could come under upwards pressure later this month because of a major round of tax payments by banks on behalf of customers starting in the week beginning june 15
1986 results include gains from retroactive adoption of new accounting rules for pension on jan 1 1986 of 26 mln and 77 mln dlrs for third quarter and nine month periods respectively
products registering high export growth were jewellery up 64 pct clothing 57 pct and rubber 35 pct
im not saying that is going to happen but gillette is an undervalued stock with a breakup value of 45 dlrs per share shore of shearson lehman said there are a couple of reasons why perelman may not be really interested in acquiring gillette
pay date is april 24
presidential spokesman teodoro benigno said the land reform program estimated to cost about 44 billion pesos would be implemented in four phases and benefit 264 mln farmers
it said the issues include an immediate payment of 57 mln dlrs to sgl chairman leonard lieberman executive vice president james dougherty and financial officer murray levine
we are not pushing this place into a recession
she declined to give any turnover or profit figures for the packaging and labelling operations beyond saying that they were very profitable
the consumer proposal to base quotas on a six year moving average of exportable production surpluses would lead to overproduction as countries boosted output to win higher quotas he said
shr loss 120 dlrs vs loss 197 dlrs net loss 6248000 vs loss 102 mln revs 331 mln vs not given year shr loss 125 dlrs vs loss 1344 dlrs net loss 6508000 vs loss 696 mln revs 1234 mln vs not given note results include charges of five mln dlrs or 96 cts shr for 1986 qtr and year compared with charge of 722 mln dlrs or 1394 dlrs shr in prior year from discontinued operations and disposal of discontinued operations
period ended september 30 shr profit one ct vs loss three cts net profit 65000 vs 292000 sales 181 mln vs 167 mln
the unit will use part of the proceeds from the recent sale of units of petrolane partners lp to finance the early redemptions
jc penney jcp to buy equity in beebas
the rule change which has already taken effect for platinum futures on nymex is expected to increase the open interest and liquidity in us energy futures according to traders and analysts
the deal is expected to close in the second quarter the bank holding company said
chicago milwaukee corp said it welcomed an investment by shearson lehman brothers inc in its company
world bank loans portugal 50 mln dlrs
so far this year distillate demand fell 23 pct to 320 mln bpd from 328 mln in 1986 gasoline demand was 663 mln bpd off 03 pct from 665 mln and residual fuel demand fell 49 pct to 135 mln bpd from 142 mln the eia said
all per share data reflects a two for one stock split paid june 25 1986
conable did not spell out what further changes he would like to see
wgerman cocoa grind up 29 pct in first quarter
holdings of average daily reserves over the first seven days of april stood at 596 billion marks still above the estimated 51 billion required for all of april
their ideas are due to be unveiled when finance ministers hold an informal meeting in belgium early next month
atlantis group inc said it bought 100000 shares of charter crellin inc common stock or 63 pct of the total outstanding and may seek control in a negotiated transaction
another referring to the philippine debt negotiators said the only reason theyd have to come back to new york is political not economic ongpin has said as much himself estimating that an extra 1 16 percentage point would cost just 51 mln dlrs a year
qtly div 37 1 2 cts vs 37 1 2 cts prior pay may 15 record april 15
high hog corn ratios the number of bushels of corn that could be bought for 100 lbs of hog and the resulting increased profits encouraged farmers and confinement operations to increase production starting late last year
shr 42 cts vs 32 cts net 1076572 vs 826939 sales 205 mln vs 125 mln note company released results in connection with filing for class a common stock offering
the fund is designed to help boost job creation and improve worker mobility and supplement national schemes in the ecs 12 member states
the paper said that last month us intelligence sources said they had spotted land based anti ship missiles of a chinese design known in the west as the hy 2 near the strait of hormuz
we want to insure that countries receive export quotas based on their ability to supply the market instead of their political influence in the ico brazilian coffee institute ibc president jorio dauster countered negotiations failed because consumers tried to dictate quotas not negotiate them previously quotas were determined by historical amounts exported which gave brazil a 30 pct share of a global market of about 58 mln 60 kilo bags
cambio la guiara operated in part on the parallel market in which traders buy and sell dollars among themselves
aristech plans to spend approximately 200 mln dlrs over in capital investments over the next three years marshall added
taunton savings bank said its board declared an initial cash dividend of six cts per share
lawson doubted that tokyos partners would indulge in japan bashing at the summit especially after the economic stimulation package and the announcement of nakasones plans to increase japanese development aid over the next three years
commercial banks and primary and registered government securities dealers will each have two securities accounts with the mas one for their own holdings and the other for holdings on behalf of all their customers hu said
the company said it holds a net 6500 acres in the vicinity of the discovery and a seismic program is underway to evaluate further drilling opportunities
but the agency is also wrestling with a vexing new phenomenon of huge and rapid swings in stock prices spurred by computer driven trading strategies that span markets in securities options and futures
international broadcasting corp said shareholders at its annual meeting approved a one for 25 reverse stock split
sprinkel said the administration still looks for 27 pct growth in us real gross national product gnp in 1987 and 35 pct in 1988
this accounts for the wide variety of borrowers who have tapped the sector recently ranging from sovereigns such as the kingdom of sweden today continental banks including commerzbank and deutsche bank and british corporations
jp morgan and co bankers trust new york corp btn manufacturers hanover corp mhcn and chemical new york corp fnbfn have asked for securities business licenses
ec could decide on japan trade moves in late may
the buffer stock manager is obviously looking at the implications of delaying until forward prices lift the indicator since it might mean he has to buy less cocoa an analyst from a leading cocoa trade house said
the uaw is negotiating with amc over the carmakers demand for economic concessions covering workers at its wisconsin operations without which amc has said it would cease vehicle production at its kenosha wisconsin assembly plant by 1989
iran reports important victories on southern front
india in countertrade deal for malaysian palm oil
ministers were this afternoon trying to agree a joint statement on the eurofer plan and the situation in the industry
in rejecting the takeover proposal by the us subsidiary of swiss based ciba geigy ag the company said it was unfair
they said the move is effective immediately
under limited cross compliance the plantings of other program crops on the farm may not exceed the crop acreage bases of those crops
the japanese think ec firms are now more competitive than us firms a factor which is aggravating the exchange rate imbalance and which will cause problems
he said the company has improved its debt to equity ratio and wendys owns a high percent of its own restaurants 38 pct of 3500
he said that the majority of texas oil wells fall within the stripper well category and a price swing of two to three dlrs a barrel can be crucial in determining if the well remains in production
japan concerned at ec trade threats minister
american express would not comment on the rumors or its stock activity
possible reserves of 75000 tonnes grading 038 ounce gold ton at the break zone would extend mine life by a year with considerable potential for development of further oxide ore reserves at the deposit they said
banking sources said some 80 pct of international creditor banks involved have responded positively to the nigerian debt proposal
to prevent a resurgence of inflation the bank will take a very cautious stance regarding developments stemming from easy credit conditions he said
march ohio river bid at yesterdays traded level of 125 pct offered at 132 1 2
hughes ht approves merger with baker bko 
japan warned the united states it may take retaliatory measures if the united states imposes its planned trade sanctions on april 17 a senior government official said
the total us market was estimated to be worth 840 mln dlrs in 1986 having grown by 47 pct in the previous five years coloroll said
malaysias foreign borrowing held at 1986 level
maxicare health plans inc said it ended negotiations to sell maxicare alabama lp to complete health inc the companies said last week they had reached agreement in principle for complete health to purchase the health maintenance organization the largest in alabama
partnership buys ipco ihs stake of 68 pct
bank of japan intervenes to buy dollars around 14370 yen dealers
weekly foreign exchange auctions began in october 1985
a friday rumor had put the number far higher
the company said it went public earlier this year and its current ask price was 1 7 8
it requires brokers dealers and investment banks to register with it and comply with investor protection rules and it polices exchanges and regulates trading practices
he did not elaborate
the block is split between class a and class b stock
he said the bank was also proposing a one for 10 share split which should facilitate trade in the banks stock
gte corp said the decline in its first quarter net income reflects a 121 mln dlr loss from its 50 pct share ownership of us sprints operations
south korea is studying a plan to buy more coal from the united states and to start importing alaskan crude oil to help reduce its huge trade surplus with the united states energy ministry officials said today
the rating agency cited a 22 billion dlr tender offer for gencorp by general acquisitions inc a unit of a partnership affiliate of afg and wagner and brown
brazil announced on february 20 that it was suspending interest repayments on about 68 billion dlrs of private sector debt owed to commercial banks
ltv corp said pakistan ordered 180 military trucks and spare parts worth 185 mln dlrs from am general a unit of ltvs missles and electronics group
a third tranche of 15 billion francs will be issued at a variable interest rate and the whole issue will be quoted on the paris bourse
the rating agency said the action reflected a substantial increase in saskatchewans budget deficit for fiscal 1987 and prospects for greater tax supported debt in the medium term
officials of the foreign ministry said japan had maintained good relations with both iran and iraq which have been at war since september 1980
anheuser busch last year made a 150 mln dlr bid to buy san miguel brewery ltd a hong kong listed company which is 6965 pct owned by neptunia corp ltd a san miguel corp subsidiary
uk average earnings rose a seasonally adjusted 65 pct in the year to end april after increasing by 67 pct annually in march the employment department said
in 1985 however woolworth changed its strategy and announced that it would operate specialty stores
step saver data systems inc said bergen richards corp has exercised a warrant to buy 450000 step saver shares at two dlrs each
ec industry output growth slows in 1986
shr profit 80 cts vs loss 160 dlrs net profit 1673960 vs loss 3292663 note 1986 net includes gain on bond portfolio of 1160000 dlrs and 5600000 dlr provision for losses on discontinued liability and multi peril lines of reinsurance
he said this also widens abbeys investor base
nigeria is due to receive 900 mln dlrs in fresh export credits this year from official agencies under a structrual adjustment program drawn up by nigeria and the world bank to support a rescheduling of part of the countrys 19 billion dlr foreign debt
lac said it does not expect the decision to affect earnings but 44 employees will be affected
the report said that indonesias overall economic performance in calendar 1986 was about zero or even a slight negative growth rate the lowest rate of growth since the mid 1960s
burlington industries bur sells convertibles
he said this will enable the requirement to be held to 4197 billion francs against the previous government target of 4178 billion or eight pct of gross national product
in the netherlands the inflation outlook for 1987 is nil or even negative while the latest official economic forecasts point to a falling rate of economic growth
it said gold production will average 41000 ounces per year for the mine life and 99000 ounces of silver per year
on an annual basis this put m0 growth at four to 4 1 2 pct in the middle of the 1987 target of two to six pct
called measurement auditors co the partnership provides flowmeter certification and testing services to the oil and gas industry engineering measurements said
in washington president reagan said the united nations was being informed of the attack under the provision of the un charter regarding notification of actions taken under the right of self defense
testifying before the house agriculture subcommittee on wheat soybeans and feedgrains robbin johnson vice president of cargill inc disputed claims that us grain companies have made huge profits from certificate trading
india 1986 87 cotton export quota up 190000 bales
he said a negative opinion by another brokerage house hurt the stock wednesday and it can be bought at a relatively bargain price today
co managers are daiwa dillon read drexel burnham and wertheim schroder
year ago excludes loss of 54808 dlrs or three cts in qtr and 126749 dlrs or seven cts in six mths from discontinued operations
premier says yugoslavia will pay its debts
court declines to block viacom via merger
shr loss 11 cts vs profit four cts net loss 199000 vs profit 81000 rev 19 mln vs 25 mln nine months shr loss 14 cts vs profit 15 cts net loss 261000 vs profit 273000 rev 64 mln vs 76 mln note per share information adjusted for three for two stock split on january 31 1986
each debenture holder will receive the number of whole shares of tiger common stock obtained by dividing the interest payable by 90 pct of the average closing price of the stock from february 18 through march 17
redemption will be in three tranches on february 2 1997 1998 and 1999
siemens said it will therefore need to continue its review beyond march 16 to determine whether certain representations and warranties are true
the estate itself owns 340783 of the 752297 class b shares
the proposed acquisition price is approximately 175 mln dlrs in cash the company said
malaysia expects rubber shortage in april may
the companys uk based gallaher ltd unit had a strong performance in 1986 and became the second largest contributor to operating earnings american brands said
cyclops has about 41 mln shares outstanding
bank of france sees pickup in industrial activity
gencorp also received 257 dlrs after tax from the sale of rkos wor tv
crazy eddie crzyo amends shareholder rights
related to this matter of trade imbalance the point that i found to be of great cause for alarm during this trip to europe was the excessive degree of hope placed by the europeans in the results of the maekawa report he said
he said that of the banks estimated 25 financially troubled sovereign debtors about one quarter were latin american countries
moodys cited an improved leverage position that will result from valeros sale of its valero natural gas subsidiary to valero natural gas partners lp the partial sale of units of that partnership to the public and the simultaneous sale of first mortgage bonds to institutional investors
uniforce temporary unfr sets split
philip crosby pcroo makes acquisition
the high regulatory environment has delayed life insurance firms diversification
toshiba said the introduction of the products indicated its commitment to the uk although the market was competitive the facsimile segement was showing excellent growth
german february import prices fall
qtly div 25 cts vs 25 cts prior pay april one record march 15
however he said he wanted to see a gradual approach to declines in domestic uk interest rates although optimism in financial markets might push for big moves quickly
usda florida orange report considered bearish
real gdp rose 11 pct in the fourth quarter of 1986 after rising 02 pct in the third quarter and falling 11 pct a year earlier
brazilian inflation lower in february
attacks on gulf shipping by iran and iraq centered on crude rather than products carriers which has lulled fears of lpg supply disruptions traders said
combustion said the restructuring at lummus crest is expected to substantially reduce but not eliminate this year losses in the engineering and construction segment
they said pioneer sugar was expected to recommend acceptance of the bid through which csr would benefit from the bottom out of a cyclical downturn in sugar prices
benequity has 57 mln units outstanding
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
circuit systems inc said it has bought all of the stock of ionic industries inc in exchange for 3677272 shares of its common
but a hot spell was sorely needed after far heavier than normal rainfall for several weeks he said
drill sites have been established and a diamond drilling program consisting of an initial 5000 feet of drilling began october 13 the company said
hilton hlt sees improved first quarter profits
altex industries inc said it has agreed in principle to buy 82 pct of two privately held affiliated computer retail companies for an undisclosed amount
erc international inc erc 3rd qtr net
libya is reported to have recently bought two cargoes of white sugar from operators at around 229 230 dlrs a tonne cost and freight traders said
italian sources said italian acting finance minister giovanni goria met treasury secretary james baker last night
china sugar output seen lower usda
chemie linz expects sharply higher 1986 loss
he had no comment on whether cyacq plans to withdraw its current offer which is scheduled to expire midnight on march six
it said it plans to enter the health care business in japan
microdyne corp mcdy sets payout
tesco plc tscol said that county ltd had yesterday bought on its behalf 206 mln shares or around 42 pct in hillards plc for between 302p and 310p a share
saft said it expects to add 400 jobs at the uk operations
he called for speedier geolog prospecting across the country to spur the oil industry
if us intervention occurs the entire world will become insecure for the americans and the events of lebanon could be repeated for the americans everywhere he said
morgan stanley and co will act as financial advsiors for the groups divestitures
the agency said air north america provided no support for its claim that the transaction would give the two carriers monopoly power in some markets
advanced tobacco products inc said it has ended talks on being acquired by sterling drug inc sty but has resumed acquisition talks with other parties
qtly div 25 cts vs 25 cts prior pay april 13 record april six
defense secretary caspar weinberger said on monday the united states did not seek further confrontation with iran but we will be prepared to meet any escalation of military action by iran with stronger countermeasures
it is a real snake pit at best and a powder keg that will blow sky high at worst said wisconsin rep
lafalce a member of the house banking committee said the facility was needed because most american banks were refusing to fund more foreign debt and debtor countries were having trouble paying the loans on schedule
fiat unit issues 100 mln dlr bond and warrants
the revised unadjusted january index rose 05 pct from a year earlier after a one pct year on year december rise
usair group requests transportation department order twa to divest stake
customs figures show china imported 266241 tonnes of aluminium and alloy in 1986 down from 487862 in 1985
in march 1986 640400 persons or 85 pct of the workforce were out of work
dealers said they were somewhat relieved to see that bank regulators recognized the concept of netting that is offsetting the amounts receiveable from and payable to a single counterparty against each other
sugarcane and beet growers would be compensated by the government for the price support cut with targeted income payments over the four years 1988 to 1991
turkish central bank sets lira dollar dm rates
a centromin spokesman said the managers of the mine at cobriza could always ship the the mineral by road to the coast for export if the train line continued interrupted
cominco ltd said its cominco metals division lowered the price for lead metal sold in canada by 1 2 canadian cts per pound to 34 canadian cts per pound
the issue to be made at par carries a placing fee of 20 basis points and will be listed in vienna a laenderbank official told 
he described the present accord as a model for commodity agreements due to its being signed by nearly all producing and consuming countries and by virtue of its review systems and control over buffer stock management
the treasury said it would expand on may 1 its computerized program for separate trading of registered interest and principal securities called strips to permit reconstituting of securities
shearson was subpoenaed for documents related to transactions with jefferies and co and others
the officials said the meeting here where the six will be joined by italy will be a status report
the one page statement noted the international monetary fund expressed confidence in argentinas economic policies and prospects by approving a new stand by financing arrangement for it on february 18
in the fourth quarter of 1986 morgan posted other trading losses of 55 mln dlrs because of setbacks in the trading and underwriting of euromarket securities
werner enterprises inc wern 4th qtr yr net
abc said the facility has a maturity of three years from signature with bullet repayment
favored trade status for moscow still opposed
payment for it is due five weeks later and it will be open to them to withdraw their offers at any time between april 1 and the official payment date when the commission officially takes ownership of the sugar the officials said
under the new rules the buffer stock manager would seek offers of different origin cocoas using price differentials to reflect different qualities
allied lyons will also have a full year extraordinary cost of slightly more than seven mln stg for defence costs associated with elders ixl ltds failed take over bid for the company holden brown also said
the committee narrowly rejected a version of the legislation that would have permitted 15 billion dlrs in borrowing authority over a longer time and was the version favored by the administration
shr 47 cts vs 40 cts net 4258000 vs 5942000 revs 926 mln vs 771 mln avg shrs 8977000 vs 150 mln year shr 122 dlrs vs 134 dlrs net 164 mln vs 200 mln revs 3291 mln vs 2721 mln avg shrs 135 mln vs 150 mln note interest expense 4384000 dlrs vs 545000 dlrs in quarter and 6979000 dlrs vs 2425000 dlrs in year
it said the delay is due to administrative considerations including conducting appraisals in connection with the acquisitions
the new credit agreement signed in january was originally to last 15 months but the government now says it will go for one year beginning this month
the company said shareholders approved the move at the annual meeting in providence today when the company reported that its first quarter earnings rose to 385 mln dlrs or 73 cts a share from 317 mln dlrs or 60 cts a share in the first quarter 1986
congressional sources said the program cut is so drastic it is unlikely to be adopted in either the house or senate because politically influential sugar and corn growers and high fructose corn syrup producers will strongly resist
the finance ministry is expected to grant licences to securities subsidiaries of us commercial banks soon following a similar decision for subsidiaries of european universal banks in which the parent holds a less than 50 pct
the full names of the companies purchased from gallaher are formatura iniezione polimeri spa genoa and fip uk ltd weybridge
takashi ishihara chairman of the japan committee for economic development said the accord will not prevent the yen from rising further
immediately before the historic 1985 new york agreement or plaza accord the dollar had been trading at 284 marks and 240 yen
qtly div 7 1 2 cts vs 7 1 2 cts prior pay april 10 record march 27
the belcher co of new york a subsidiary of coastal corp cgp said it will raise the posted prices for number six fuel in new york 25 cts to 175 dlrs a barrel depending on grades
kenyas late coffee crop is flowering well but the main coffee areas were generally dry and hot in the week ended wednesday trade sources said
centuri inc cent year net
a ferruzzi spokesman later confirmed that the group was studying the transfer of the cpc business to european sugar along with a possible share offering in the paris unit but gave no details
the offering is expected to be made before the record date of the split the company said
ppg industries inc said a group of investors led by sterling group of houston said it has agreed to acquire ppgs ethylene products business including its inteest in an ethylene glycols joint venture with du pont co dd in beaumont texas for undisclosed terms
it said that morgan stanley and co inc and salomon brothers inc hired in 1983 to advise southern and santa fe in their merger appraised southern as worth between 500 mln dlrs and 800 mln dlrs less than southerns own internal valuations
bigelow said the company is continuing its previously announced 10 mln share repurchase program and has bought back 41 mln of its own shares
avon products inc the diversifed conglomerate that had a strong turn around in 1986 said it expects sales and earnings to climb higher this year
only if brazil has access to new loans can it grow export and pay its debts over the longer term
banks alone exported some 86 billion marks in funds while domestic companies increased their short term financial assets abroad by 700 mln
output in the energy sector rose four pct and mining output 10 pct
the overall balance of payments deficit rose to 265 billion dlrs from 130 billion a year earlier but was down from 704 billion in january
the discussion document aimed at preventing a cash row at the summit and breaking the deadlock at this years farm price talks contained the first formal reference to dropping the measure
the two countries earlier signed two technical and financial cooperation treaties
brown transport btcu declares first payout
tesfay accused the west of intransigence in the negotiation of recent commodity agreements
galactic resources ltd earlier reporting a 1986 loss of 256 mln us dlrs said it adopted a more conservative accounting policy similar to other gold producers accounting for exploration costs
soviet industrial output up in first quarter
that strategy which called for some 20 billion dlrs in new funding from the commerical banks and nine billion dlrs in spending from the development banks mostly the world bank came under profound doubt with the decision by citibank and chase manhattan to set aside new reserves
yesterday they reported sales of 150000 tonnes to unknown
final crop estimates for 1986 87 and planting intentions for 1987 88 are not yet available
the strike today closed the stock exchanges of sao paulo and rio de janeiro
the department said exceptionally cold weather in january reduced exports that month and that there had been an element of catching up in the february figures
academy insurance group inc acig 4th qtr net
the shares will outperform the market over the next 18 months he said
the bank which primarily assists countries in the building of roads sewerage systems education and other so called infrastructure is viewed in the third world as benefactor
but there was a danger some of them would be persuaded to change sides and if that happened opposition could crumble
one senior bank credit officer said the work is largely done in terms of identifying bad loans and making provisions but banks are still going to face difficulties earning money the sudden decline of saudi arabias corporate sector in 1983 culminating in a number of debt reschedulings has taken a heavy toll of bank profits with first results now appearing for 1986 showing a fourth successive year of broad decline
canadian money supply m 1 rises 217 mln dlrs in week bank of canada said
met pro corp mpr 4th qtr ends jan 31 net
the oecd forecast that spanish imports would rise sharply next year reflecting strong demand entry to the european community and declining competitiveness
royal gold rgldo agrees to make acquisition
interfinco sa of luxembourg is launching a 50 mln swiss franc five year convertible bond with an indicated coupon of 2 1 2 pct lead manager sg warburg soditic sa said
wings west airlines wing 3rd qtr net
the company raised its dividend to 435 cts a presplit share up from the previous 37 cts a share
avnet said it will use the net proceeds for general working capital purposes and the anticipated domestic and foreign expansion of its distribution assembly and manufacturing businesses
but it seemed clear from bakers remarks he was at one point ready to concede an increased voting power such as 625 pct or 60 pct as the majority for approving loans that would amount to a compromise between the original us and latin american positions
mitsui and co to issue eurodollar warrant bonds
union miniere is a wholly owned subsidiary of societe generale de belgique belbbr
marcade group inc mar buys europe craft
the ccc will offering additional 1986 peanuts for sale at a later date the department said
we feel we will continue to see higher growth in the quarter james treybig president and and chief executive officer told a meeting of securities analysts
prices have already begun to fall with the introduction of the new system
sun already owns a 44 pct working interest in the unit
uk money market shortage forecast revised down
non north sea corporation tax is forecast to bring in 135 billion stg in 1987 88 after the revised 112 billion in 1986 87 and vat revenue should amount to 233 billion compared with upwardly revised estimated 215 billion this fiscal year
commercial unions dutch insurance unit delta lloyd verzekeringsgroep nv has a 54 pct stake in van lanschot which lowered risk provisions to 225 mln guilders
the finance ministry commissioned banks and securities houses agreed in january to lower the eligibility ceiling for companies wanting to issue non collateral straight bonds
coke affiliate to sell delaurentiis deg stake
tie telecommunications canada ltd 4th qtr net
but stoltenberg said in a speech last night in hamburg that while the economy would continue to expand this year the rate of growth was uncertain
the failure of the deal will doubtless encourage japanese firms to take a lower profile in attempts to acquire us high tech firms but they are unlikely to stop analysts said
newmont mining corp held 5250376 du pont co shares or about 22 pct of those outstanding at the end of 1986 down from the 5970141 shares or 25 pct of those outstanding it held a year earlier newmonts annual report said
to protect the buyers of the newly auctioned stock the bank has agreed to establish a so called fallow period a 28 day period during which it agrees not to issue any new stock of the same type and it will not necessarily resume selling the stock once the fallow period expires
twa said however that if the negotiated deal is not acceptable it may make an offer directly to usairs shareholders for up to 51 pct of usairs outstanding stock to be purchased in a voting trust at a price lower than todays offer
traders say usda may lower orange crop estimate
piedmont aviation pie board to meet today
initials plus said it expects sales in the year ending january 31 1988 to exceed 10 mln dlrs
sico inc said it agreed in principle to buy the us assets of reichold chemicals incs sterling group which manufactures electrical insulation compounds and industrial resins and develops coatings for the electronics industry
however he said not enough financial details are known about domes debt restructuring to compare the value of transcanadas proposed offer
moodys may downgrade british petroleum and standard oil
patrick petroleum co ppc year loss
but such a policy cannot be pursued indefinitely
speculation has been in the market for some time that the united states is considering offering wheat to the soviet union at subsidized prices
ecuador needs 120 mln dlrs to repair the damage to its oil export pipeline caused by last weeks earthquake which will stop crude exports for five months energy and mines minister javier espinosa teran said
these were a five year 150 mln dlr deal launched by morgan guaranty ltd for saab scania at 7 3 4 pct priced at 101 3 4 pct
in my view this would not only be a logical but also a most desireable development he said in a speech prepared for delivery to an economic forum at chapman college in orange calif
delegates said it could be friday before all the member countries declare their positions on the possible extension
arnox arnxo still in merger talks with txl
official reserves totalled 7205 billion dlrs at end december compared with 4723 billion at end september and 3255 billion one year earlier
tabuchi electric co is launching 30 mln swiss francs of five year straight notes with a 4 3 4 pct coupon and par issue price lead mananger swiss bank corp said
the company also said it plans to offer convertible subordinated debentures publicly
permian basin royalty trust said that as of december 31 1986 its estimated proved reserves totaled 185 mln barrels of oil and 529 mln mcf or thousand cubic feet of gas
canadas leading composite indicator rose 04 pct in january with eight of the 10 major components posting gains the most widespread monthly advance in the past year statistics canada said
white house welcomes retail sales figures
the chrysler corp unit said the move is prompted by the parent companys three for two stock split which requires a recalculation of the debentures conversion prices that will adversely affect those prices by at least five pct
analysts said jardine will book revenues from its dairy farm stake for the final months of the year as part of its retail business which will increase its overall retail income figures
bank of japan governor satoshi sumita said in a statement the central bank will intervene in foreign exchange markets to stabilise exchange rates if necessary in close cooperation with other major industrial nations
the whole trend of inspection for the last 10 years has been to corrupt and to degrade the system where today the public is at constant risk to contaminated and adulterated meat kenneth blaylock president of the american federation of government employees told a house agriculture subcommittee
qintex said it is extending the offer to allow princeville to comply with federal law restricting the ownership of us airlines by non us citizens and to finalize the terms and conditions of the letter of credit or bank guarantee required under the previously announced acquisition agreement
burr brown said the possible write down is being precipitated by a shift in market demand toward higher performance products
smith and wesson is among a number of companies being sold by forstman and little after its recent acquisition of lear siegler
money market sources said the market had begun to doubt that a widely expected drop in bank base lending rates to 95 pct from the present 100 pct was really on the cards
the overall majority of non opec producers have not responded sufficiently to opecs calls for supply regulation he said
first toronto completes issue
paradyne also said it named jerry kendall as president and chief executive officer succeeding robert wiggins who resigned as chairman and chief executive officer as part of the settlement of the indictment
it repeated a statement made in its initial sec filing last month that it is considering several alternatives including seeking control of cenergy
one tranche is of five year 150 mln dlr bonds while the rest is of seven year 150 mln dlr bonds but other issue terms have not yet been decided
japan has said it may be forced to reduce ore imports from india next year if new delhi fails to reduce the price one source said but declined to give further details
vietnam has ordered its army to grow more food to ease shortages and meet economic recovery goals set for 1990
the rank organisation plc said it has appointed county natwest capital markets ltd samuel montagu and co ltd and swiss bank corporation international as dealers in a 100 mln stg commercial paper program
the remaining one mln shares is being offered overseas through underwriters morgan stanley international and merrill lynch capital markets ual said
the foodservice division which includes burger king arbys and tony romas had a pre tax operating loss of 296 mln dlrs in 1986 including the 340 mln dlr charge to restructure bojangles
international seaway trading corp ins year
us defends stockpiled tin sales in 1986
the transaction is valued at about 163 mln dlrs a jefferson spokesman said
qtly div 445 cts vs 445 cts in prior qtr payable may one record april 10
video jukebox network inc said it signed a letter of intent to purchase up to 35 mln shares of the four mln shares of the companys common stock from its founder and president steven peters
the british source said the decision not to specify the exact shareholdings of the core companies could leave the door open for further discussion
but it said the talks did not produce any agreements or understandings
he said it wasnt until the bonds were cleared through euro clear a major clearing house for the eurobond market that it was discovered they were forgeries
the australia and new zealand banking group ltd anzas rate remains at 23 pct
hall fbh offers new service
newmont nem stake in du pont dd declines
telecrafter corp swhi 2nd qtr feb 28 net
shr 20 cts vs 15 cts net 345970 vs 257252 revs 140 mln vs 134 mln note share adjusted for five pct stock dividend in december 1986
the key three months interbank sterling rate gained 1 16 point at 10 9 7 8 pct
using acquisition value usda officials said the value is higher
but bullish expectations are already partially reflected in todays gains they added
the kenaf plant is a member of the hibiscus family and was artificially developed several years ago
the notes have a 7 1 2 pct coupon and were priced at 8987
us officials had hoped a ruling against the quotas would be issued earlier this year but the gatt panel decision has been delayed by the illness of the tribunals chairman
the february figure is likely to be revised upwards by just under one percentage point next month when the march figure is released a ministry statement said
he hopes to get approval for a structural adjustment facility and compensatory financing facility starting in june
the us agriculture department said it had accepted a bid for an export bonus to cover a sale of durum wheat to algeria
under us accounting practises dome mines would have reported 1986 loss of 1929 mln dlrs or 217 dlrs shr vs yr ago loss of 249 mln dlrs or 32 cts shr reflecting different principles in accounting for 22 pct stake in dome petroleum ltd dmp and 1986 oil and gas writedown
m 1 growth for calendar 1986 was 118 pct compared with 40 pct growth over the year ending in november
us processors are now finding domestic livestock feed demand is very light for this time of year due to the milder than normal winter so they steadily dropped offering prices in an attempt to find buying interest soyproduct dealers said
hopefully they will now start to cut back production to get supplies in line with demand he added
but lyng said usda already plans to change to market value accounting rather than acquisition value in order to avoid hitting a funding ceiling for eep of 15 billion dlrs
total daily borrowings in the week fell 99 mln dlrs to 591 mln dlrs with extended credits down 35 mln dlrs at 230 mln dlrs
reichhold chemie ag headquartered in rausen switzerland had sales in excess of 75 mln dlrs last year
young said the acquisition which is expected to close in april is subject to due dilligence review
despite current bullish sentiment in the med however traders noted that crude netbacks are beginning to look more attractive and most maintenance shutdowns should be finished in two to three weeks
but he agreed to setting up the dispute panel
the lifting of the cross compliance on oats permits the planting of oats in excess of the oat acreage base without sacrificing eligibility for other crop program benefits
the soviet union is rumored this morning to have bought up to 15 mln tonnes of us corn export trade sources said
an esso saf spokesman said a closure was a hypothesis that depended on the evolution of the market and refineries ability to make money
coleman cln sees 1st qtr charge
secretary of state george shultz said today that a boost in allied forces in the mideast gulf was not vital to protect shipping against attack but that possible allied contributions should be examined
texon said completion of the acquisition is subject to the consent of banks and third parties and the acquisition would be made for promissory notes and common stock
no brazil solution without imf german banker says
dana corp dcn debt lowered by s p
gordon to make bid to acquire pagecorp pgoato 
the four exxon corp xon mobil corp mob texaco inc tx and chevron corp chv signed a long term agreement last month to buy saudi crude for 1752 dlrs a barrel
the cpb forecasting a rise in the budget deficit to 72 pct of net national income in 1987 from 63 pct last year urged the government to cut expenditure further to bring down the deficit and reduce tax and social security payments in future
poehl said that the recent rise in interest rates was not due to central bank policy but to markets expectations and currency developments
the official noted the agreement signed in january provided for the supply of about 55000 tonnes of vegetable oil 55000 tonnes of corn and 126000 tonnes of wheat all for delivery during the current fiscal year ending this september 30
commerce secretary malcolm baldrige predicted 1987 will be the fifth successive year for growth in housing starts after a 26 pct rise overall in february starts to a seasonally adjusted annual rate of 1851 mln units
he said some banks might want to hold out for a higher price but others would see the repurchase offer as an opportunity to cut their losses
but the annual rate stayed below that of the us for the second month in succession following the release of figures showing us inflation of 38 pct in both april and may
sorghum was harvested on 23 to 25 pct of the area sown in cordoba santa fe and chaco
uk reserves lift hopes of further base rate cut
these figures reflect two three for two stock splits in march and august 1986
at the same time however the official expressed reservations that such a scheme would ever get off the ground
net is after tax 704 mln dlrs vs 382 mln interest 252 mln vs 114 mln depreciation 243 mln vs 123000 and minorities 341 mln vs 291 mln but before net extraordinary loss 821000 vs nil
rowntree reports pretax profit at 84 mln stg
the striking price was a partly paid 41 stg pct at which price bids were allotted 538 pct
january crude oil movements fall seven mln tons
according to officical pay lists available in the unions office the basic pay for ordinary seamen is 1977 cruzados a month while various allowances can bring their total pay up to 4000 cruzados a month
fuerzas electricas de catalunya fecsa suspended repayments of principal on its debts in order to start renegotiating its obligations with banks next month a company spokesman said
the 18 month oil financing facility which was signed last october 28 is one of the few purely voluntary credits for a latin american nation since the regions debt crisis erupted in august 1982
new england electric said it plans to issue 30 mln dlrs worth of pollution control bonds in 1987 and retire additional higher cost preferred stock
lucky stores inc said it and investor asher edelman agreed on a settlement that prohibits edelman and his group from taking specified actions to obtain control of the company and that limits the edelman groups ownership of luckys stock to less than five pct of any voting securities
the dollars steep fall stems from the markets belief that the trade imbalance will continue to expand he said
lyng would not comment on what farm issues were discussed
foreign minister tadashi kuranari will accompany nakasone ministry officials said
will and senior vice president william d
tomorrows surplus in the money market is estimated at 420 billion yen mainly due to payment of national annuities money traders said
the us agriculture department detailed world supply demand data for major importers and exporters of soybean oil by country in mln tonnes argentina 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 010 010 010 010 production 077 077 073 073 imports nil nil nil nil domes use 010 010 011 011 exports 066 066 063 063 end stocks 010 010 010 010 brazil soybean oil in mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 032 028 024 024 production 252 251 235 235 imports 015 015 012 012 domes use 200 200 194 198 exports 065 065 045 045 end stocks 034 028 032 028 ec 12 soybean oil in mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 022 022 023 022 production 232 233 226 226 imports 044 044 050 050 domes use 146 145 138 138 exports 129 130 139 139 end stocks 023 023 022 022 india soybean oil 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 012 007 021 021 production 017 017 015 015 imports 035 035 025 025 domes use 052 052 049 054 exports nil nil nil nil end stocks 012 007 012 007
world bank chief pledges support to indonesia
martin of phillips and drew said the dampening effect of a sterling rise on consumer price inflation would not materialise for at least nine months while its hampering impact on manufactured exports would show almost immediately
the committee will draft a budget which its chairman sen lawton chiles a florida democrat said he hopes would raise at least 18 billion dlrs in revenues or about half the minimum 36 billion dlr deficit reduction he has in mind
the joint committee of taiwans maize importers has awarded contracts to two us companies to supply two shipments of maize totalling 60000 tonnes a committee spokesman told 
greece scraps us base closure request
group shr 53 yen vs 22 net profit 358 billion vs profit 147 billion pretax profit 494 billion vs loss 248 mln operating profit 536 billion vs profit 789 mln sales 12734 billion vs 13022 billion nine months ended january 15 group shr 134 yen vs 119 net 910 billion vs 803 billion pretax 1978 billion vs 1477 billion operating 1735 billion vs 1600 billion sales 43006 billion vs 44626 billion
it also said the offering was aimed at raising 75 mln dlrs for working capital and 17 mln to repay debt incurred in connection with its recent acquisition of us medical enterprises inc
kuna also said the envoy had discussed the deployment of iranian missiles near the strait of hormuz with kuwaiti foreign undersecretary suliman majed al shaheen
theres no real market today
wtc international nv said it has sold its affiliates in south africa to an independent trust created to continue the operations in that country
corporate bond prices closed on friday at 27401 up from the indexs initial value of 10000 on december 31 1979 the agency said
we plan to underwrite more of these deals said a korth official
new canada issue almost sold out at close
earlier it reported a loss from operations of 22 mln dlrs or 471 dlrs a share on revenues of 1146 mln dlrs for 1986
under the terms of the deal capitive venture capital will issue 16 mln shares of restricted convertible preferred stock convertible into 16 mln shares of common stock in exchange for all outstanding stock of scan graphics
qtr ends april 30 shr loss 10 cts vs profit nine cts net loss 163465 vs profit 131815 revs 3672731 vs 3763829 nine mths shr profit four cts vs profit one ct net profit 57911 vs profit 11380 revs 11753950 vs 10794822
uk issues one billion stg bond tranche
the company said extreme heat from the fire caused severe rock degradation along several ramps and drifts in the mine
company chairman robert g
still leiner noted that the recent rise in oil prices remains a concern for the inflation outlook
he put the uk intervention in the context of the louvre accord between leading industrial nations to stabilise the dollar partly through direct intervention on foreign exchanges
stone said that those electing to convert their holdings to common shares becoming holders of record by may 22 will be entitled to the 20 cts per share quarterly cash dividend payable june 12 as well as the additional shares from the previously announced two for one stock split to be issued on june 12
they would probably touch a high of 20 cents pound from the current level of 1859 cents and a sharp rise from year ago levels of 1050 cents
nec corp is establishing a 150 mln dlr euro commercial paper program with a sterling option morgan guaranty ltd said as arranger
he said sprints progress in such areas as revenues number of customers and construction was on track even ahead in many areas looking beyond the united states holland said sprint currently had direct access to 34 countries and aimed to be in 90 pct of the free world nations by 1988
rumors of a damaging storm in west texas helped the new york cotton futures market rally sharply this morning
it noted that ec output of isoglucose is subject to maximum quotas of which cpc currently holds a 25 pct share and said it foresaw an increase in other industrial uses of starch in the future notably in the production of ethanol for fuel
this is just typical said george thompson of prudential bache securities
brazilian bank workers decide on national strike
while such approaches may have some political appeal they are impractical and ultimately counterproductive mulford told a house subcommittee this week
st
the institute said this could be done by ensuring that fiscal policy fosters a willingness to work and invest
oper shr profit four cts vs profit 13 cts oper net profit 456000 vs profit 1633000 revs 378 mln vs 340 mln avg shrs 130 mln vs 130 mln nine mths oper shr profit 12 cts vs loss 39 cts oper net profit 1614000 vs loss 4877000 revs 1092 mln vs 883 mln avg shrs 131 mln vs 125 mln note 1987 net excludes tax credits of 156000 dlrs in quarter and 716000 dlrs in nine mths
exports to the united states for edible and non edible use account for about half of that total pcas romero said
the issue was increased from an initial offering of 50 mln dlrs because of investor demand
the offer will expire april nine
for all of march banks would be required to hold net daily average reserves of 507 billion marks dealers said
cyprus minerals co said it was awarded a five year contract to supply 360000 tons of steam coal to niagara mohawk power co nmk the company is currently shipping 240000 tons of steam coal a year to niagara mohawk under a contract signed in 1985
kraft also said its advertising expenditures for 1987 are expected to match the five year compounded 15 pct rate of increase recorded in 1986 when such expenditures totaled 433 mln dlrs
macandrews forbes unit begins offer to buy all revlon group not already owned
last month miti told chipmakers to cut production for the january to march period by 10 pct to help dry up inexpensive chips that have escaped from japan to grey markets not subject to the pacts price controls
company began operating january 27 1986
the issue was lead managed by deutsche bank capital markets dbcm and guaranteed by deutsche bank itself
they said the discussions led on the polish side by deputy finance minister andrzej doroscz were to renew contacts agreed after an inconclusive meeting in january and the talks were described as a technical meeting the january talks focussed on the rescheduling of about 500 mln dlrs of interest and principal due by end 1986 and also touched upon delays in debt repayments recheduled previously
the new bhp utah minerals international group will be headed by jim curry as executive general manager and chief executive officer
in 1986 the company earned 442 dlrs a share
investment in us stocks and bonds is difficult considering the dangers said katsuhiko okiyama deputy general manager and chief adviser of yamaichi securities co ltds fixed income securities marketing group
and they mexico are a long way from seeing any money cross the table even as of today ongpin said adding he expected much quicker approval from all the philippines 483 creditor banks worldwide
us sells 3 mo bills at 558 pct stop 559 pct 6 mo 558 pct stop 559 pct
citizens fidelity cfdy paper upgraded by s p
turnover net of duties 132 billion stg vs 146 billion
first national holders approve holding company
corrected bankamerica negotiating units sale
central maine power co ctp sets quarterly
the government has said it expects 1987 growth to be under two pct but some analysts believe it will be nearer three pct because prices for commodity exports have risen sharply
on oil prices lawson said he was sticking to his earlier assumption that north sea crude prices will average 15 dlrs per barrel in calendar 1987
india feels it will be useful to have quotas now because the slide in prices is unlikely to be halted immediately he said
oper shr three cts vs one ct oper net 210000 vs 67000 revs 10252000 vs 8929000 avg shrs 7933000 vs 8553000 six mths oper shr five cts vs two cts oper net 420000 vs 133000 revs 203 mln vs 171 mln avg shrs 7952000 vs 8551000 note 1987 earnings exclude gain from utilization of tax loss carryforwards of 125000 dlrs or one ct a share in the quarter and 150000 dlrs or two cts a share for the six months
indonesian coffee exporters are preparing for a period of depressed prices while urging their government to lobby for a resolution of the deadlocked issue of export quotas the chairman of the association of indonesian coffee exporters aice told 
we have resolved major differences of opinion he told 
the dollar fell to 14430 yen and recovered only slightly after foreign exchange traders in new york said the federal reserve intervened to buy dollars for yen
correcting units output to barrels day from barrels year
prior qtr and nine mths include pretax gain of 73 mln dlrs from damages paid by republic of iran and pretax gain of 40 mln dlrs from change in companys ownership in ing c
carter hawley chh sets record date for vote
but barrett said the black sholes variant citicorp used pointed to a higher volatily for the morgan issue and emphasized that the models were at best an inexact science
one valley bancorp ovwv raises quarterly
co manager is db asia finance hk ltd
also does not include 4th qtr 1985 extraordinary loss of 1028000 dlrs or ten cts per shr
the measure was adopted as part of a wide ranging trade bill that will be considered by the full house in april before it moves onto the senate
if dollar follows wall street japanese will divest
nomura international finance plc is issuing a 150 mln dlr eurobond due april 28 1992 with a 7 1 4 pct coupon and priced at 101 1 8 pct nomura international ltd said as lead manager
its the billion dollar question said richard obrien economist at american express international bank in london
the way the manager is only nibbling at the edge of the market at the moment is actually depressing sentiment and the market because everyone is holding back from both buying and selling waiting to see what the manager will do next one processor said
genzyme genz gets testing patent
however gilts may benefit from further declines in uk interest rates they said
it said it will continue to review the dividend on a quarterly basis
zambia expects sharply reduced maize crop
vietnams army ordered to grow more food
oper shr six cts vs one ct oper net 194109 vs 28751 revs 2731688 vs 347134 avg shrs 3360527 vs 2295359 nine mths oper shr 11 cts vs five cts oper net 356571 vs 111545 revs 5923907 vs 1491852 avg shrs 3296982 vs 2289762 note share adjusted for 10 pct stock dividend in december 1986
the uk government is in no hurry to issue more bonds suggesting further market improvement and continuing demand from brokers here said laurie milbank and co assistant manager machiko suzuki
they transferred to us trade representative clayton yeutter the powers now held by reagan to decide whether to retaliate against foreign violations of fair trade rules and whether an injured industry deserves import relief
he said tanker requirements decreased in september 1986 as opec production quotas dropped and levels of oil stocks rose
argentinas debt is latin americas third largest at 51 billion dlrs
new homes available on the market in january totaled a seasonally adjusted 362000 units unchanged from december and equal to a 63 months supply
alpha industries aha sells division
it would be suicidal for any government in the context of what happened in the last couple of days to jack up their interest rates he added
libra is a consortium bank national westminster bank plc nwbll chase manhattan bank na cmb royal bank of canada ryto swiss bank corp sbvzz westdeutsche landesbank girozentrale welgf mitsubishi bank ltd bancomer snc banco itau sa credito italiano spa and banco espirito santo e comercial de lisboa all have shareholdings
the actions in support of union demands in negotiations over a new labour agreement began on wednesday when grain handlers stopped work
sanford margoshes of shearson lehman brothers inc told clients this morning that a sweetened offer was possible
feb 28 end shr five cts vs one ct net 161019 vs 50745 revs 1048543 vs 478700 avg shrs 3217500 vs 4350000 nine mths shr 12 cts vs four cts net 390179 vs 169275 revs 2658692 vs 1478066 avg shrs 3217500 vs 4350000 note corrects reversed figures in march 11 item
general electric cited the strong results in tv network and station operations of the national broadcasting co which was not part of ge in the first quarter of 1986 as one reason for its strong earnings
the leaf disease corenes pora which has affected some rubber trees in sri lanka and indonesia is likely to force a cut in supply and push up depressed prices a malaysian rubber disease researcher said
marcano told reporters at the finance ministry yesterday that the 24 billion is part of a total package of 32 billion dlrs in new credits which venezuela will try to obtain
van horick who is a council member of the european coffee federation was speaking at the end of the ecf annual meeting
as part of the deal medco will split its stock five for two
the sharp drop of the dollar had led to an immediate steep rise in the cost of us imports and a sharp fall in the cost of european imports
this compares with the santos stake of 31 pct when it announced its bid in march 23
baldwin piano and organ co said it has filed for a secondary offering of 630000 common shares including 490000 to be sold by general electric co ge and 140000 by other shareholders
he said he would go to wellington for talks with new zealand which had a surplus in trade with the philippines to encourage it to switch imports from other countries
it accepted 64 billion dlrs of bids including 20 billion dlrs from the federal reserve and 161 mln dlrs from foreign and international monetary authorities
the bundesbank entered the open market in the late morning to buy dollars against yen in concert with the bank of france dealers said
we are thinking about making an offer to dome or amoco canada petroleum co ltd or the creditors blair told reporters before the annual meeting
a consumer delegate said producers and consumers should be able to compromise on the non member cocoa question
the bank of japan will tomorrow sell 1200 billion yen in bills from its holdings to help absorb a projected money market surplus of 2100 billion money market traders said
under current rules the good grade of meat has less marbling and fat than the prime or choice grades it said
but pentagon spokesman fred hoffmann said that reports the naval strike force was in the region did not mean the united states was sending a new warning to iran against escalating attacks on shipping in the persian gulf
the company said it will consolidate life products into the companys headquarters and manufacturing operations in minneapolis
in an unusual move standard and poors corp downgraded a us corporate debt issue soon after it was priced for offering late last week
in jamaica opec president rilwanu lukman who is also nigerian oil minister said the group planned to stick with the pricing agreement
but it called on the goverment to continue fostering domestic producers through the import parity price scheme
shr 16 cts vs 14 cts net 954000 vs 777000 revs 247 mln vs 215 mln avg shrs 6000000 vs 6000000 nine mths shr 39 cts vs 34 cts net 2314000 vs 1805000 revs 692 mln vs 593 mln avg shrs 6000000 vs 5363000
the company is providing small to mid siezed key telephone systems to gte and key systems hybrids and data star pabx systems to the others
union miniere sa said in a statement that it has acquired an eight pct interest in pancontinental mining ltd panas for a sum equivalent to 12 billion belgian francs
a company spokesman said he had no idea of the cause of the fighting
it was quoted at less 1 7 8 less 1 3 4 pct inside the two pct total fees
a frequent gap between international market prices and the reintegro was unlikely to recur he said
american international petroleum corp aipn said it agreed to acquire for one mln dlrs the assets of a western louisiana oil and gas company
he said some of sudans western backers were witholding aid until an agreement with the imf was reached
despite the furore fujitsu will proceed with talks on the acquisition in line with the basic agreement reached with schlumberger last year a fujitsu spokeswoman told
mellon mel sees large first quarter loss
whittaker today reported first quarter earnings from continuing operations fell to 1522000 dlrs from 3501000 dlrs a year before
metal traders australasia ltd said a newly formed subsidiary the austmet ltd group has negotiated an exclusive long term contract with spains asturiana de zinc to market its zinc metal exports
oper shr loss six cts vs profit four cts oper net loss 58388 vs profit 34101 revs 2419203 vs 2145967 1st half oper shr profit six cts vs profit 18 cts oper net profit 61763 vs profit 172166 revs 5731582 vs 4458040 note prior year net excludes extraordinary credits of 4500 dlrs in quarter and 46000 dlrs in half
februarys paris meeting of six major industrial powers exorted nics to lower trade barriers and revalue currencies
s and p noted that manufacturers has about 67 billion dlrs of loans to the major latin debtor nations and has experienced weak earnings
the current exposure would be measured by the mark to market value of the asset which would reflect the replacement cost
the supreme court left intact a ruling that vacated a judgment ordering china to pay 413 mln dlrs for allegedly defaulting on a 1911 loan to finance construction of a railroad from peking to canton
shr basic 42 cts vs 141 dlrs shr diluted 42 cts vs 133 dlrs net 4394000 vs 13070000 revs 1910 mln vs 2233 mln
mitsui and co eurobonds formally launched
freedom federal frfe sets initial payout
i dont know if we will go this route but if we do theres a question in my mind at this point in time can you do that legally he said
in its latest annual report it said the us had promised to limit sales of tin in a memorandum of understanding signed with the six member association of southeast asian nations asean in december 1983
commitments for foreign loans and grants total more than five billion dlrs in 1986 87 against 354 billion five years previously he said
west german jan coffee imports down on year ago
exxon corps domestic subsidiary is already marketing the 89 octane unleaded gasoline along much of the east coast
the collapse of the deal will not be a critical blow to fujitsu but it will boost the cost of future us expansion by the japanese firm said analysts polled by 
american express axp viewing shearson options
transco energy co e sets quarterly
shr profit 20 cts vs loss two cts net profit 2665000 vs loss 202000 revs 12141000 vs 5993000 nine mths shr profit 35 cts vs loss 11 cts net profit 4653000 vs loss 1167000 revs 351 mln vs 180 mln
the world bank sources said the bank cancelled 450 mln dlrs in loan commitments to the philippines during the last three years of president ferdinand marcoss rule
four sessions start 15 minutes later than kobe exchange sessions but both exchanges final sessions start at the same time
calculated on a three month moving average basis m 3 rose 44 pct year on year in the quarter based on december after rising 54 pct in the quarter centred on september
shr loss not given net loss 1300000 sales 3300000 note company incorporated in june 1985
overnight interbank money for tomorrow was indicated at around 11 pct almost a point below the levels ruling at the end of last week
peru has first trade deficit in four years
details will be released later the committee said
the industry is deeply divided between those who support an oil tariff and those who believe tax incentives are better said daniel yergin director of cambridge energy research associates which recently completed a survey of the us congress on energy issues
the public sector borrowing requirement psbr contracted by 300 mln stg after a contraction of 37 billion stg in january
the company said the active ingredient in the spermicide is currently used in the us in antiseptic applications unrelated to condoms
kleinerts inc klrt 1st qtr ends feb 28 net
theres another pool of cash at the table now he said
brazil seamens strike ends
in a statement to the informal gatt trade ministers conference here he said agriculture is a problem which involves all countries and seriously affects the debt servicing abilities of a number of developing countries
a year before it lost 217852 dlrs on sales of 469274 dlrs
shr 34 cts vs not given net 510192 vs 328428 nine mths shr one dlr vs not given net 1489831 vs 741136 note company went public in september 1986
in june 1986 cxr filed the suit in san francisco federal court charging that the 103 mln dlr price it paid for halycon was excessive torotel said
however the treasury was believed to have baulked at the request by the 27 market makers for an allotment commission which would discourage the largest institutional investors from placing orders for new stock directly through the bank of england thus denying primary dealers some of their best customers
brazils hard line debt stance though meeting creditor resistance is boosting political initiatives in latin america aimed at broadening the global strategy regional debt officials and economic analysts say
ec extends parts of free food for poor scheme
analysts said the market is still trapped in a narrow range desperately seeking direction
rhnb corp rhnb 1st qtr net
bat said the us brown and williamson unit held most of its 1985 gains and increased profit 18 pct in dollar terms
greyhound corp said it has signed a definitive agreement to buy general motors corps us transit bus and parts business for an undisclosed sum
thats a nice marriage he said
viermetz also said he did not see the us federal funds rate falling below six pct for fear of provoking an uncontrolled fall in the dollar
murakhovsky said the soviet union was prepared to talk with anybody with interesting proposals offering latest technology and assuring a mutual advantage he said the soviet union had many tasks ahead of it and would deal rapidly with proposals it considered interesting
he added that telecom plus communications was the largest independent supplier of telephone exchange systems in the us and had achieved a turnover of 234 mln dlrs in 1986
its just the size of each bond which has increased he added conditions in the capital market currently remained fairly favourable for raising new debt
one of our basic strategies is to target securities to specific investors and hopefully attain a broader distribution officers of korth and painewebber said the gmac notes were selling quickly last week although the issue had not sold out by friday afternoon
president aquino has shown her ability to pull the nation out of one crisis after another roeher said foreign investment would probably be held back until after the congressional polls in may and the local elections in august
china has raised the state purchase prices of corn rice cottonseed and shelled peanuts from april 1 to encourage farmers to grow them the official china commercial daily said
standard and poors pointed out that general motors corp gm chrysler corp c and nissan motor co ltd nsan realized funding advantages by issuing car loan backed debt
oshmans sporting goods inc oshm 4th qtr net
fbx corp fbxc year nov 30 net
its substantial reserves of crude oil and natural gas put it in a good position to benefit from any price recovery
at the same time that we are pumping up inventories in the first quarter we could foresee production slowing in the second cautioned joe plocek of mccarthy crisanti and maffei inc who expects first quarter growth of about three pct
the year ago first quarter earnings however have been restated from 101000 dlrs or four cts per share
but a negative report on certificates will fuel the fire against certificates and weigh heavily on at least an increase in the certificate program an agricultural consultant said
the improved outlook results from amr corps amr decision to order 40 new planes powered by cf6 80c2 ge engines
national gypsum co 4th qtr net
the realty investment trust company started operations in august and had no comparable figures it said
ina said the decree signed by president saddam hussein relieved the minister of heavy industries subhi yassin khadeir of his post and appointed him a presidential adviser
it therefore took the bold step of withdrawing more than 50 billion riyals from its reserves and pumping it into the economy he said
at the moment we do not expect any extraordinary influences such as there were last year it said
he expects consumer prices to rise about 4 1 2 pct this year
wyle labs wyl to issue debentures in europe
the company said eight of nine holes drilled on the new ore zone have an average grade of 0046 ounces of gold per ton and 21 ounces of silver per ton
gulf resources gre to have gain on stock sale
mitsubishi banks ny branch sets one billion dlr us medium term note program
the company said the hog marketing unit did not fit with its strategy of investing in its core businesses
in january the unit wage rise in manufacturing industries was 36 pct unchanged from the december rise
indonesia sees limited choices on economy
five of the plants are located in the united states
turkeys ambassador in athens nazmi akiman was due to meet prime minister andreas papandreou today for the greek reply to a message sent last week by turkish prime minister turgut ozal
it said hecht will serve as a consultant for an interim period
the fact that brazilian coffee institute president jorio dauster assistant us trade representative jon rosenbaum and chief colombian delegate jorge cardenas are not attending the meeting has signalled to most market watchers that it will be a non event as far as negotiating quotas is concerned
revenues in the quarter rose 14 pct to 175 billion dlrs it said
even excluding volatile defense goods durable goods orders rose a healthy 38 pct the agency said
lower global interest rates in 1986 had nipped earnings margins via traditional lending activities he said
bankers see the suspension of central bank aid as a deliberate move to drive up kuwaiti dinar interest rates and stem a flow of funds out of the country where market nervousness is increasing over the growing tension in the gulf
towle qtow stock may be diluted canceled
jwt group inc said it filed a suit against wpp group plc to enjoin the company from continuing its tender offer
the bank of france is likely to cut its money market intervention rate by up to a quarter point at the start of next week
the issue will be priced april 7 and subscriptions close april 9
the annual growth target for both is 5 1 2 to 8 1 2 pct
rj nabiscos rjr unit sells cigar business
xuto said the new pact maintains the same objectives that were set in the present accord
payment is due april 30 1987 and final maturity april 30 1994
they referred specifically to a doubling of special writedowns for small and medium sized companies announced in a package of tax adjustments planned for 1988 and described this as an increase in subsidies
monsanto mtc unit sees operating loss in 1987
ppg industries inc will continue to show earnings growth in 1987 despite a difficult economic climate the company said in its annual report mailed to shareholders today
if approved by various creditors and shareholders the company expects the plan to be completed by may 29
caesars in a brief statement did not say whether it would seek to buy back its shares held by sosnoff
he said 61 billion dlrs of the 15 billion has so far been raised as development loans
wheat sales of 317200 tonnes for the current season and 125000 tonnes for the 1987 88 season were down about one third from the preceding week and the four week average
spartech corp said it plans a one for five reverse stock split and has filed a registration statement with the securities and exchange commission covering a planned 25 mln dlr offering of convertible subordinated debentures due 1999
the expanded program will serve the industry because the oil market does not close when nymex does said frank capozza secretary of century resources inc
minntech mntx sees first quarter loss
the oil and natural gas commission of india has signed for a 265 mln us dlr italian buyers credit co lead manager bankers trust co said
hoogovens expects clear loss in 1987
many other markets maintain restrictions he added
after the market had closed yesterday gm said it would buy back 20 pct of its common stock by the end of 1990
shr loss 15 cts vs loss 109 dlrs net loss 193 mln vs loss 1396 mln revs 6117 mln vs 8686 mln year shr profit 12 cts vs loss 131 dlrs net profit 161 mln vs loss 1679 mln revs 268 billion vs 335 billion avg shrs 1347 mln vs 1281 mln
the following rainfall was recorddd in the areas over the past 24 hours parana state umuarama 106 millimetres paranavai 122 mm londrina 60 mm maringa 80 mm
imports from the ec in 1986 totalled 8302 billion escudos while exports to the community were 7321 billion compared with 6095 billion and 6071 billion the previous year
last week the banks came under pressure to accept this when senior us officials endorsed it as fully consistent with treasury secretary james bakers debt strategy
rocky mount recorded net income of 248000 dlrs or eight cts per share for the first quarter of fiscal 1986
the sources noted that the backwardation premium of nearby supply over forward delivery dates back several weeks and is the longest on record
there is a 1 1 4 pct selling concession and combined management and underwriting fees total 5 8 pct
the federal reserve is expected to enter the us government securities market to add temporary reserves directly by arranging three day system repurchase agreements economists said
he said the bills provision barring gnma from increasing its current fee of 06 pct charged to issuers of single family mortgage backed securities is an unnecessary and risky congressional intrusion into gnmas ability to respond quickly and flexibly to changes in financial markets reagan said his reservations must be addressed promptly through remedial amendments reagan said the provision hampered gnmas ability to maintain reserves necessary to meet its obligations particularly in light of a disturbing increase in claims and in gnmas contingent liabilities reagan said the legislative cap on fees could well call into question the adequacy of gnmas current reserve of 14 billion dlrs given the 250 billion in gnma guaranteed securities presently outstanding and gnmas monthly contingent liability of three billion dlrs reagan said he had instructed housing secretary samuel pierce to work with congress to draft revisions to the legislation
terms were withheld
general motors corp said its pontiac division has established an interest rate support incentive program effective immediately as an alternative to its current option bonus program
since the offer was made over a dozen shareholder lawsuits were brought against revlon alleging the original offer was too low
the stock holding banks will draw up a list of such loans
brazilian red meat production in 1986 fell more than 20 pct to 19 mln tonnes due to drought which reduced slaughter weight and to herd rebuilding which started because of high cattle prices the us agriculture department said
after the spinoff which closes next month newmont will have gold operations including 95 pct of newmont gold co ngc a 15 pct stake in its copper unit and energy operations toufexis noted
jutland telephone sets 75 mln swiss franc bond
its ridiculous to say that somebody is going to buy your product if they can get the same thing at a lower price somewhere else
group sales in the same period are estimated at about 550 billion yen down five pct from a year earlier he said
university of missouri agronomist glen grimes said the report shows that hog producers have responded to a very desirable feeding ratio that they enjoyed for the past 10 months shearson lehman analyst chuck levitt said hog futures prices are above producers break even points
the sec action deals with a waiver by dixons of a condition in the tender offer which was made without an appropriate extension of the offer dixons said
it makes about 10 forklift trucks and a similar number of excavators each month in technological cooperation with mhi
equity markets dropped sharply on the news touching a days low of 17667 on the ftse 100 index after the data before staging a recovery
it was agreed to conduct reviews of the reference price every 15 months instead of the current 18 month intervals
it said the rights will also not become exercisable if the company is acquired by a group under an agreement made with its board
from 38 pct in february only 31 pct of firms now expect prices to rise before july
the package presented to the cabinet of prime minister jacques chirac by social affairs and labour minister philippe seguin today is to be financed out of a 75 billion franc contingency fund announced on february 25
offers are due no later than 1200 hrs est april 2 and will remain valid through the close of business the following day the agent said
the lay offs represent about two thirds of the original workforce
in the 1985 86 season the awb received 1508 mln tonnes of the 1613 mln tonne crop
as a result banks including a few foreign operations have started moving into capital market operations to broaden their earnings base and take advantage of the relaunch just over a year ago of the istanbul stock exchange
with wti at 20 21 or 22 dlrs us refiners will import mideast and far east crudes and this will strengthen those grades further said a japanese oil trader
taylor said profitability of the banks international operations remains weak reflecting resource related difficulties of private and public sector borrowers and unsatisfactory results from capital market activities
since then there has been no new issues for nearly two weeks until china development finance co hk ltd cdfc a unit of the bank of china launched the five year deal at 705 pct with quarterly interest payment in mid afternoon today
they were suspected of having collaborated with the late nagano in swindling about 15 billion yen from about 450 people in osaka and n27earby kobe during a six month period just before the firms bankruptcy they said
anitec image technology inc said it filed a registration statement with the securities and exchange commission for a proposed offering of 60 mln dlrs in convertible subordinated debentures
williams earlier informed norcros that it holds some 2890000 of its ordinary shares or 22 pct of those issued
exercise involving the purchase of about three mln new america west shares for 1050 us dlrs each was scheduled to be finalised in july or august he said in a statement
kenneth thomas senior vice president investments at drexels los angeles office and his father retired university professor ca thomas said they bought the stake for 21 mln dlrs primarily for investment purposes
webcor electronics wer in technical default
business equipment production rose 10 pct in february reflecting more output of autos and trucks for business use and a recovery from strikes in farm equipment industries the fed said
order growth was broad based across ncrs product lines with the greatest growth coming from us it said
the main suppliers in 1986 were australia 44 pct the us 29 pct canada 12 pct argentina 8 pct and saudi arabia 5 pct
the forecast compares with the one pct gdp growth forecast made by the treasury last october
each 5000 franc note carries nine warrannts each of which entitles the holder to buy one share in the company at 10800 belgian francs each
schlang said chemlawns customer base could be valuable to another company that wants to capitalize on a strong residential and commercial distribution system
the federal home loan bank board said home mortgage rates fell from early february to early march to their lowest point in nine years but the rate of decline was slower than it had been in recent months
paper discounted with the bank also rose by 477 mln guilders to 916 mln
plaid pantries owns and operates 161 convenience stores in the portland and seattle areas
the sources said the tone of poehls comments boosted growing sentiment that the dollar would be stabilised around current levels by international central bank cooperation
i think its a credible offer said timothy pettee a bear stearns analyst
but the chrysler source said that in assuming amcs liabilities his company will refinance at a lower rate any amc debt that is being carried at non market rates
the question is who would take it he added
comb said the proposal calls for its cable partners to receive about eight mln five year warrants in exchange for their 50 pct interest in cvn and commit to a long term affiliation agreement to carry cvn programming
shr profit 25 cts vs loss 15 cts net profit 998000 vs loss 612000 revs 8086000 vs 365000
it said the units sold were ampex corp amphenol prodcuts linotype group neptune international mpb corp revere corp and sigma instruments inc
baker pointed out the banks have rescheduld nearly 70 billion dlrs of debt reaching agreements recently with chile venezuela and mexico
it will depend on the outcome of collective wage agreement negotiations here whether there could be cost push inflation the abn economist said
the company had 165 mln shares outstanding prior to the offering
us business loans fall 618 mln dlrs
pioneer systems inc pae year nov 29 loss
holmess operations are concentrated in and around new york amd miami
c and w wants to start right away on the project such as application and other procedures said watanabe who is also chairman of tokio marine and fire insurance inc the japanese side is saying that the decision on such a plan should be left with the new firm after the merger
each bond of 5000 francs carries a detachable warrant entitling the bearer to 2486 nzi shares
gynex gynxu recalling oral contraceptives
this accounted for 178 mln barrels of a worldwide downward revision of 188 mln barrels with 158 mln barrels of the total revision occurring in the united states the report said
arvin said it might earn 57 cts to 60 cts a share in the quarter
carnival will close banks in duesseldorf all day on monday
gander mountain inc said it acquired the privately held western ranchman outfitters a catalog and point of purchase retailer of western apparel based in cheyenne wyo
bankamerica finance provides residential mortgages in south east england
it said wholesale prices of cement textiles and jute fell in 1986 87 compared with the previous year but milk cereals mainly wheat and rice fruits and vegetables edible oils tobacco and fertilisers were costlier in 1986 87
a spokeswoman for the chamber of mines said philippine copper production amounted to 222644 tonnes in 1986 down slightly from 226157 tonnes in 1985
he said he shared some of the us concern about japans trade surpluses which affected european countries as well as the united states
block expects some expansion this tax season of its electronic filing system which directly feeds into the irs and can speed up the refund process
the parents downgrade recognized risks associated with texas airs investment in operating companies that will require substantial external financing to buy aircraft
the amendments provide a total of seven billion dlrs us in standby credit
the blaze broke out with an explosion around 1330 local time 1130 gmt shell is a subsidiary of the royal dutch shell group rd some 200 firemen fought the flames at the gasoline storage unit at edouard herriot riverside port complex and appeared to have the blaze under control as night fell
ipco corp ihs regular dividend
ormand industries inc said its general can co inc unit has finalized all transactions needed to repay about 33 mln dlrs of past due accounts to its unsecured lenders
the company said its stock will begin trading on a split basis on april 3 subject to regulatory approvals
profit on sale of fixed assets 23 mln guilders vs 62 mln
news of the split sparked a 14 guilder rise in abns share price on the amsterdam bourse to a close of 517 guilders
this could involve moving cbt markets in us treasury bond futures treasury notes muni bonds and options on t bonds and t notes through an adjoining corridor while utilizing the midamerica floor for such cbt futures contracts as corn wheat soybeans soybean products and agricultural options
1985 4th qtr and year oper net excludes a gain of 256 mln dlrs or 156 dlr per share and 294 mln dlrs or 179 dlrs per share for settlement of claims and utilization of tax loss carryforward
iran has test fired its newly acquired silkworm anti shipping missile in the strait of hormuz and has set up at least two land based launching sites in the area a british naval source in the gulf said
it is based on output data for production industry and partial information for the rest of the economy
he said he believed the new restrictions are a temporary measure designed to buy time as the central bank grapples with the exchange rate problem
new zealands inflation rate could fall to eight pct in the coming year prime minister david lange said
the company said the debenture holders intend to waive the non compliance but reserve the right to withdraw the waiver at the end of any 30 day period
associates corp issues 15 billion yen bond
the bond is available in denominations of 100000 dlrs and will be listed in luxembourg
although japanese unemployment rates appear lower than those of other industrialised nations methods for calculating statistics make them difficult to compare economists warned
chinese pork output seen lower usda
denmark was also expected to see a slump in domestic demand
last year it earned 372 dlrs a share
ivory coasts real gross domestic product is expected to grow only one pct this year compared to five pct in 1986 according to a recent finance ministry estimate
quaker oats co said its stokely van camp inc subsidiary will retire on may 15 its 10 1 4 pct sinking fund debentures due may 15 2000
the us cannot intervene on its own account because of the strength of protectionism here said albert soria of swiss bank corp
yugoslavias top oil and natural gas producer ina naftaplin has started to implement a cooperation contract signed last year with the french petrochemical concern petro chemie the official tanjug news agency said
early this year the commerce ministry quietly told foreign companies interested in selling aircraft ships drilling rigs and railway equipment to india that they stood a better chance if they bought indian goods or services in return the trade sources said
city of quebec issues 40 mln canadian dlr eurobond
i will take part in the miners negotiations because that does not force me to suspend my fast lechin told reporters
mulligan said he believes the dissolution if it is approved is a result of change in the futures industry rather than a change in us agricultural economics
bank of france cuts intervention rate to 7 1 2 pct from 7 3 4 pct official
hostile takeovers are considered unethical and frowned upon by the japanese the trading company official says
the dividend is payable may 30 record april 20
another critic was citicorp chairman john reed who said the 13 16 pct interest margin would deter some bank lenders and thus delay mexicos return to the voluntary markets
its cash is strong relative to 1987 requirements but was accumulated through such means as asset sales
the republicbank issue was secured by credit card receivables
official sources said toyotas application was likely to be approved
the second blizzard to hit istanbul in a week stopped yesterday afternoon and the international airport reopened today after a two day closure
venezuela hit by a 40 pct drop in oil income last year had sought a direct link between repayments and the level of oil income but banks resisted on the grounds this could create a dangerous precedent for other latin american debtors
manufacturing productivity in april was 61 pct higher than a year ago after a downward revised 68 pct increase in march
pharmacia ab phab st forecast earnings after financial items of one billion crowns in 1987 vs 8212 mln last year on condition that exchange rates remained at their present parities
they continued the process of multilateral surveillance of their economies pursuant to the arrangements for strengthened economic policy coordination agreed at the 1986 tokyo summit of their heads of state or government
icco delegates accept principles of buffer stock compromise as negotiation base
meanwhile britain will re examine a letter from japanese prime minister yasuhiro nakasone promising personal help in solving the row over a uk firms bid to win a significant role in japans telecommunications market government sources said
qtly div 125 cts vs 125 cts in prior qtr payable march 13 record february 27
export import bank of japan president takashi tanaka told brazil the bank will continue to cooperate with it but he refrained from making any commitment to a new credit ex im officials said
funaro denied rumours that he had offered his resignation to president jose sarney
royal dutch shell group rdas earnings for 1986 from the us fell sharply because of difficult market conditions lower crude and gas prices and also due to different accounting methods shell chairman peter holmes said
deutsche bank ag will be lead managing the issue the sources added
monsod the governments chief economic planner stressed manilas policy was growth before debt
new zealand press group buys more texas newspapers
im not so sure that the fed is engineering a tighter policy to help the dollar as some suspect said sullivan of dean witter
royal trustco ltd in a move unique among canadian trust companies is pursuing a bold global expansion that could someday lift the foreign share of its yearly earnings to 50 pct president michael cornelissen said
dome spokesman annesley earlier declined to specify at what price the company would consider selling its dome mines shares but said current prices of more than 15 dlrs a share are very attractive
david rockefeller chairman of the international advisory committee of chase manhattan bank na said an accommodation would be found between brazil and its commercial bank creditors to solve the problem of the nations recent interest payment halt
john labatt ltd anticipates a good fourth quarter and a new peak in sales and earnings for the fiscal year ending april 30 president peter widdrington told financial analysts
bombay high accounted for 2061 mln tonnes marginally up from 2010 the year before
minorco mnrcy sees improved second half
some 45 pct of world tungsten exports come from china but the country imports high grade tungsten products
the offer is based on eight new a non voting ordinary shares in gus plus 9516 stg for every 100 ordinary pantherella
suralco alumina exports dropped 75 pct in feb
the weekly return showed total dutch gold and currency reserves rose 113 mln guilders to 560 billion guilders
the banking bill authorizes us participation in a multilateral investment guarantee agency miga as requested by the administration
ford motor co of canada ltd 4th qtr shr 817 dlrs vs 55 cts
the grant comes as part of package announced on march 13 for indian mineral development
more worrisome for administration strategists is the possibility that congressional debt proposals essentially granting debt relief will be attached to a trade bill
it looks like daiwa submitted a kamikaze bid just to get the business said one competitor
us said promised bulk of maize export to spain
pursuant to the transaction harvey seslowsky and william hodes resigned from us videos board and were replaced by four members of first national
in absence of any guidelines on inventory charges from the federal energy regulatory commission the matter is being negotiated between pipelines and customers richards said
hamburgische l b issues australian dlr eurobond
this would result in a french soft wheat harvest of around 31 mln tonnes against 255 mln in 1986 87 given a ministry of agriculture estimate of area planted of 466 mln hectares against 461 mln in 1986 87
atlantic richfield co said it sold its plan cell research institute unit and its arco seed co operations in two transactions for undisclosed prices
yet a wendys spokesman said the company was aware of a business week article which named coke as a potential suitor and which market sources said helped ignite the rumor mill
sroka said stagnating consumption and slight overproduction will continue to weigh on coffee prices and he forecast a continued build up in stocks
royal bank of canada 1st qtr shr 88 cts vs 122 dlrs
the results of a controversial study of farm subsidies conducted by the paris based organisation for economic cooperation and development oecd show japan has the highest agriculture subsidies in the world and that dairy farmers benefit more than any other commodity producers from subsidies
claiborne pell introduced legislation to permit eight states along the northeast corridor to sell tax exempt transportation bonds to improve high speed rail service
it also said the current account surplus of the swiss balance of payments reached a provisional 135 billion francs last year from 128 billion in 1985
kodak said depressed prices and poor financial performance have led to the decision
dutch chemicals group akzo nv akzoas said it hoped to consolidate its core activities this year by making small acquisitions in the us
duffy here on a three day visit after talks in the united states the european community ec and latin america said considerable progress has been made by the group towards fighting costly protectionist policies pursued by developed countries
two new uk tax relief measures for oil producers announced today are aimed at encouraging developments in the north sea to go ahead and boost opportunities for the offshore supplies industry the inland revenue said in a post budget statement
previous industry pump prices for 04 gm lead were 94 cents for 97 octane and 876 cents for 92 octane
australian wheat farmers normally receive an advance payment known as the guaranteed minimum price gmp calculated at 90 pct of the average of estimated returns in the current year and the two lowest of the previous three years the department said
note company was created in may 1986 by the merger of royale belge vie accidents and royale belge incendie reassurance vie accidents shareholders received eight new shares and incendie reassurance shareholders six for every share held in the old companies
cash distribution 39737 cts vs 30577 cts pay april 14 record march 31 note trusts full name is permian basin royalty trust
lac said it will continue surface drilling in 1987 to determine if further underground exploration work is warranted
seal inc sinc 1st qtr jan 31 net
new exports will be considered only in about a years time when the 1987 88 crop can be gauged as well he said
standard oils stock was up 6 1 4 in heavy trading to 71 1 8
ecuadors deputy energy minister fernando santos alvite arrived here last night for talks on further venezuelan assistance to his countrys oil industry following last weeks earthquake officials said
the bank of england said it has forecast a flat position in the money market today
herringtons proposed tax incentives for the oil industry were issued last week after the department of energy released a comprehensive report finding us national security could be jeopardized by rising oil imports
pittston said described wtc as a fast growing air freight forwarding company with operations throughout the world
sphinx mining inc said leased mining claims in alaska could produce revenues between 322 mln dlrs and 966 mln dlrs from gold reserves
ecuadors consumer prices rise 25 pct in february
in addition attilio petrocelli president of metropolitan was named to fill a vacancy on the metex board of directors the company said
everybodys stuck in the spot next one trader said
encor plans 125 mln dlr debenture offering
kraft inc said it completed the acquisition of holleb and co a foodservice distributor based in bensenville ill
market response to the italian treasurys 3000 billion lire offer of short term bills bots was mixed with six month paper oversubscribed but 12 month bills little in demand bank of italy figures show
by mid year however the company said a reduced corporate tax rate should have a positive impact on its net income and cash flow
shr 132 dlrs vs 126 dlrs net 212 mln vs 174 mln avg shrs 161 mln vs 138 mln assets 100 billion vs 84 billion deposits 72 billion vs 61 billion loans 67 billion up 26 pct note results restated for pooled acquisitions of shawmut home bank and fidelity trust co and include first gibraltar mortgage corp from december 30 1986 purchase
us cotton certificate expiration date extended
mars graphic services inc wmd 1st qtr may 31
north hills electronics inc said its north hills israel ltd unit received a commitment for 1500000 dlrs in financing from the overseas private placement corp the company said the money will be used to construct and equip a 14000 square foot manufacturing plant in israel
proposed offerings recently filed with the sec
told of a survey published today which estimated that opec output so far this week was below 15 mln bpd he said that could well be correct opecs news agency opecna today issued a statement saying group output was well below its ceiling in february
bank of england does not operate in money market
eldorado bancorp said its board declared a 10 pct stock dividend payable april 17 to shareholders of record april three
earlier kay had repeated agriculture secretary richard lyngs statement last week that the door is not yet closed on an eep to the soviet union
the rise brought year on year inflation to 1977 pct compared with 2372 pct at end february 1986 and 2166 pct for the year ending january 1987
saab scania launches 100 mln dlr euro cp program
japanese securities houses are thinking of allowing foreign brokerages to underwrite more japanese government bonds from april securities managers said
oppenheimer said it sold the 243400 share stake on march 27 at 9500 dlrs a share
it matures in june 1993 but will be extendible by up to two years to june 1995 at the option of the borrower
first financial ffmc in stock split
a spokesman said the group led by joseph f
honeywell inc said its total debt rose by more than 85 pct in 1986 mainly due to its 102 billion dlr acquisition of the sperry aerospace group
to stabilize supply demand relations which have been disrupted by excess inventories since 1985 will take some time he also said that us firms had not been aggressive enough in trying to sell in the japanese market
swiss bank corp said that the facility pays a commitment fee of 10 basis points per annum on undrawn amounts
the syndicate members agreed in april 1982 that 26 pct of 10 year government bonds should be underwritten by 93 securities firms 17 of them foreign and 74 pct by banks
union national corp said it signed a definitive agreement under which its first national bank and trust co of washington unit will merge with second national bank of masontown under a previously announced merger agreement each share of second nationals common stock will be converted into 25 shares of union national common
average price in cents per lb
japanese 150 billion yen loan for indonesia
carolina power and light co cpl qtly div
the agriculture department must make a decision soon on how to change the current us soybean loan or more soybeans will continue to be forfeited to the government and foreign soybean production will increase the president of the american soybean association asa said
if brazil had not been placed on non accrual which means that interest can be recorded as income only when payments are actually received net interest earnings would have been 5259 mln dlrs and net yield 299 pct
about 24 pct of total sales came from usxs uss steel unit and 16 pct from diversified businesses which include oilfield services raw materials minerals chemicals and real estate
payment date will be april 8
but at those markets steers averaged 708 lbs in february compared with 718 lbs last year grimes said
they are after all paying on time all the debt service and principal on their official debts having just rescheduled with the paris club baker said in the newspaper interview
on sept 25 a day after allied disclosed that its board had urged rejection of campeaus sept 12 tender offer for 58 dlrs a share allied began negotiating the sale of six shopping centers to debartolo the sec said
japans finance ministry will start issuing bonds with coupon payment of either march and september or june and december from april 1 matching futures delivery months
they said issues to be discussed by the ministers from bahrain kuwait oman qatar saudi arabia and the united arab emirates uae would include a recommendation by central bank governors on a common currency exchange rate
pinola said first interstate like other banks has not yet decided to put the loans which brazil stopped paying interest on last month on non accrual status
yesterday the company said that it will restructure its mobil exploration and producing services inc mepsi to enhance the development and transfer of technology supporting critical areas of exploration drilling resevoir management and computer systems
shr 98 cts vs 63 cts net 2602000 vs 1571000 assets 115 billion vs 102 billion deposits 104 billion vs 9421 mln loans 8348 mln vs 7290 mln return on avg assets 092 pct vs 063 pct
federal industries paper issue just in canada
if they dont then in the long run there will be a default ortiz mena warned that latin america needed to reverse the capital outflows from the region and beyond that needed more resources
cathay pacific floated its shares in april 1986 and is now 5023 pct owned by swire pacific ltd swpchk 1643 pct by hongkong and shanghai banking corp hkbhhk and 125 pct by china international trust and investment corp
a total of 11500 billion lire of 12 month paper will be offered at a base price of 9115 pct for an effective annualized net yield of 902 pct
helen of troy corp hele 4th qtr feb 28 net
the company said it submitted its latest offer to the union at the same time announcing that on tuesday it would end a lockout that started december 14
brazilian imports account for about 40 pct of total us supply vastagh said
shr 1463 dlrs net 218 mln revs 2529 mln note company changed its reporting period to dec 31 from may 31
lister is a manufacturer dyer and finisher of cotton silk wool and man made fibres
they said it would take about two months and at least 15 mln dlrs to build the pipeline from lago agrio in ecuador to puerto colon colombia for connection to the colombian pipeline which goes to the port of tumaco on colombias pacific ocean coast
with no propects for quotas in sight heavy producer selling initially and a price war among commercial coffee roasting companies will ensue the trade sources predicted
but the issuers actually realize savings on borrowing costs
g 7 issues statement after meeting
houston oil royalty trust rth distribution
a stockbroker said investors may be less enthusiastic now to buy convertible and non convertible debentures because the finance ministry has reduced the annual interest rate to 125 pct and 14 pct respectively from 135 and 15 pct respectively
tel a data serves about 50 bank and thrift institutions through a processing center in lombard illinois
brazilian finance minister dilson funaro flatly rejected a uk suggestion that his country seek international monetary fund help in order to facilitate debt negotiations with commercial creditor banks
egypt is able to produce up to one mln bpd
datron datr agrees to buyout by officers
katy industries inc kt 4th qtr net
cuevas said employers were also worried about the trend in spains foreign trade balance
shr 26 cts vs 36 cts net 6400000 vs 8700000 revs 253 mln vs 282 mln nine mths shr 104 dlrs vs 120 dlrs net 253 mln vs 291 mln revs 846 mln vs 918 mln note companys full name is american capital management and research inc
as previously reported dividends will become tax free in shareholders hands provided they are paid out of profits that have borne the full 49 pct company tax rate
eurofima is issuing a 125 mln ecu 7 3 8 pct bond due march 3 1997 at 101 1 2 pct lead manager societe generale said
murakhovsky said the agreement was one of intent and designed primarily to renew and increase the soviet unions food production capacity
demand for their opec oil is clearly above 158 mln bpd and is probably closer to 17 mln bpd or higher now so what we are seeing characterized as cheating is opec meeting this demand through current production he told in a telephone interview
present loan rates are 228 dlrs for wheat 192 for corn and effectively 456 for soybeans
the source who declined to be identified said iran had fired the chinese made missile at a hulk off its southern gulf naval port of bandar abbas and scored a hit
the company also said it plans to open within the next 90 days a 114000 square foot plant in macon ga that will allow it to expand production of transfer trailers and other products
he said the long term answer is to switch some of the financial resources now committed to agriculture to other more productive areas
iraqs export capacity will be further boosted when a 500000 bpd oil pipeline via turkey comes on stream in about september
the loan was signed by finance minister jaime ongpin and a
he said bolivia was continuing to service loans from international agencies and it expected to receive up to 400 mln dlrs in disbursements this year
brazil temporarily legalises dlr parallel market
pay date is april 28
philadelphia electric pe to sell bonds
the bill also extends us authority to negotiate multilateral trade agreements
co managers are banque bruxelles lambert ka wah bank kyowa bank saitama bank sanwa bank and yasuda trust and banking co ltd
female unemployment in january remained at 30 pct equal to the record level marked in april august september and december last year
irving bank v cites loans in earning decline
schering plough corp sdg 3rd qtr net
but most private economists disagreed and said consumers were likely to remain pessimistic in coming months as they saw their real income level off
sun chemical refused to sell its entire business after learning that dainippon planned to liquidate all but its graphic arts related businesses
correction federal paper fbt raises payout in item appearing march 17 please read headline federal paper board co fbt raises payout also please read qtly div 17 1 2 cts vs 17 1 4 cts
fed may add reserves to banking system
it quoted a world bank press release in shanghai as saying that the loan would help modernise 18 plants and research institutes owned by the shanghai machine tool works and the shanghai machine tool corp to import manufacturing technology and to develop training programmes for managers and engineers
bank of france added money market liquidity at 7 3 4 pct dealers
earlier this morning it bought 17 mln stg of bills at the same rate and for resale on the same date
compared with last year the outlook for the soviet winter grain crop is far more pessimistic she said
cold storage report for bellies neutral negative
he said he hoped the visit which is to have trade as a major issue would be productive but i dont see any practical way to resolve this particular dispute before or during his visit
rjr nabisco first quarter net to include 208 mln dlr gain 209 mln dlr charge
the sources said the banco do brasils foreign trade department cacex never interferes in the cocoa market by rejecting sales that do not meet certain price or shipment criteria
ecuador says it will pay debt when it can
it will also put 310 mln dlrs in brazilian loans on a cash basis resulting in interest reversals of 10 mln dlrs
iraq has rejected its new opec production quota set in vienna for the second half of this year the official iraqi news agency ina reported
robin relph of london
the key to both forecasts is a marked improvement in the us trade balance which is expected because of the decline in the dollars value over the last year and half
an ec negotiator taking part in the three day talks said we wanted the territorial clause in but comecon said no a joint statement issued after the talks said progress was made towards clarifying positions but another meeting would be necessary to complete the work
alcan new zealand shareholders who accept the offer would also receive the final dividend of 10 cents a share normally payable on may 27
fhlbb changes short term discount note rates
global raises heavy fuels prices
the poll delayed presentation of the national budget
unocal said its new light louisiana sweet posted price is 1935 dlrs a barrel
the decline largely reflects the impact of brazils suspended interest payments which resulted in about a 40 mln dlr reduction in net interest income royal bank said
despite their different approaches to debt garcia and mexican president miguel de la madrid issued a joint declaration yesterday calling the foreign debt problem an expression of the present unjust international economic order but the declaration said that no latin american debtors club was about to appear
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
hydro quebec is issuing a 125 mln canadian dlr bond due april 21 1997 paying nine pct and priced at 100 3 4 pct lead manager merrill lynch international said
since last november kio has been aggressively in the open market buying shares in sime darby a major corporation with interests in insurance property development plantations and manufacturing
tradestar corp said it acquired image video inc for an undisclosed sum
shr 22 cts vs 20 cts net 2963000 vs 2696000 sales 265 mln vs 194 mln
the center south crop is now estimated at 550000 tonnes 25000 tonnes below the previous estimate
standard oil says bp extends tender
the united states has accused japan of reneging on the semiconductor pact by failing to stop the flow of cut price japanese chips to asian markets
trc runs a rail network linking dar es salaam and the northern port of tanga with the coffee growing area around mount kilimanjaro and ports on lake victoria and lake tanganyika
joule inc joul sets stock split
fibronics international inc fbrx 4th qtr loss
spokesman for armco inc and bethlehem steel corp said the proposed price hike was under study
quest medical inc qmed 4th qtr loss
it has been under review since the exchange submitted the proposal in december 1985
the non callable bond is available in denominations of 1000 and 10000 canadian dlrs and will be listed in luxembourg
the talks have dragged on because of the banks reluctance to accept interest payments partly in philippine investment notes pins instead of cash and because of manilas insistence on an interest rate margin close to the 5 8 pct spread over eurocurrency rates that it initially demanded
shr 20 cts vs 20 cts prior qtr pay may 14 record april 30 note full name zenith national insurance corp
coca cola enterprises inc is raising 600 mln dlrs through offerings of 10 year notes and debentures due 2017 said lead manager salomon brothers inc
biotherapeutics inc said its common stock will be included in the nasdaq national market system starting april seven
dixons group audio video ava end litigation
we cannot contemplate giving up our control he said
shr five cts vs one ct net 299869 vs 54775 revs 57 mln vs 52 mln note period ended april 30
yankee said the sale will result in a loss of 15 mln dlrs
the special dividend is payable may 28 1987 to stockholders of record april 24 1987
the present pact which expires in october required that governments accounting for 80 pct of world exports and 80 pct of world imports approved or ratified the pact before it became operational
gabelli rosenthal and partners lp and g and r partners which hold the remaining 370700 digiorgio common shares told the sec their purpose is to ultimately obtain control of digiorgio contingent upon approval of digiorgio according to the sec filing
the western europe north america and far east regions developed well in local currency but here too the translation of local currency sales into marks distorted the picture especially in the case of north america it said
standard and poors corp said it cut to c from ccc minus michigan general corps 110 mln dlrs of 10 3 4 pct senior subordinated debentures due 1998
japan the biggest buyer of indian iron ore with imports of around 23 mln tonnes a year has asked india to reduce prices from the current average of 18 dlrs a tonne the sources said
indonesias economic changes have been welcomed by the world bank and international bankers as steps in the right direction though they say crucial areas of the economy like plastics and steel remain highly protected and virtual monopolies
gordon investment corp said it plans to make an offer to acquire all of pagecorp incs class a and class b shares for 925 dlrs cash per share
but it still failed to regain mondays us closing level of 15000 05 yen
toronto sun plans two for one stock split
the governments austerity measures ban the sale of aviation fuel to foreign airliners on international routes and no fuel will be available for ships owned by foreign lines
westamerica bancorporation wsam 1st qtr net
westworld community wchi extends exchange
an underwriting group will be led by goldman sachs and co
it said reebok filed a registration statement with the securities and exchange commission for the offering of six mln shares of reebok common
the official said ecuador could resume exports after repairing a 40 km section of the 510 km pipeline which links jungle oil fields at lago agrio to balao on the pacific coast
the statement said its results in 1986 were affected by unsatisfactory selling prices for metals and oil as well as by poor use of capacity in the supply ship sector
group sells most of stake in ccx inc ccx 
cook united inc said it expects to report a loss a loss of 16 mln dlrs before an extraordinary credit of 44 mln dlrs resulting from its chapter 11 reorganization on sales of 217 mln dlrs for the year ended january 31 1987
the company also said the securities division of the minnesota department of commerce is conducting an inquiry into the companys japanese sales for fiscal 1986 and trading by insiders and brokers in the companys common shares
the treasury said the 1987 88 oil revenue shortfall will reflect the oil price fall of 1986 as north sea corporation tax is paid after a time lag
triangle microwave makes microwave system components and had earnings for the first half ended january 31 of 1055000 dlrs on sales of 7292000 dlrs up from earnings of 763000 dlrs on sales of 6034000 dlrs a year before
he said if the government approved a long standing sra recommendation to manufacture ethanol the project would take up another 150000 tonnes slightly raising the target
funds controlled by fmr corp a boston based investment firm affiliated with fidelity hold 251100 shares bringing the combined total to 653600 shares fidelity said
more than 1000 fires in southern china had destroyed 13340 hectares of forest by mid february it said
american barrick abx sells ohio assets
earlier it said it lost 21 mln dlrs in the fourth quarter against a loss of 23 mln dlrs a year ago before discontinued operations
oper shr 69 cts vs 83 cts oper net 359 mln vs 424 mln revs 7989 mln vs 6592 mln avg shrs 520 mln vs 509 mln nine mths oper shr 238 dlrs vs 275 dlrs oper net 1233 mln vs 1356 mln revs 231 billion vs 186 billion avg shrs 518 mln vs 493 mln note net excludes losses from discontinued operations of nil vs 161 mln dlrs in quarter and 2275 mln dlrs vs 427 mln dlrs in nine mths
it said it was tendering for both ordinary stock and loan stock which when fully converted gave a total of 33 mln ic gas ordinary
dauphin deposit dapn to make acquisition
the commodity credit corporation ccc has accepted a bonus offer from an exporter on the sale of 75 head of dairy cattle to the canary islands the us agriculture department said
wheat sales of 362400 tonnes for the current season and 151000 for the 1987 88 season were down by more than half from the previous weeks combined sales it said
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
newport electronics inc newe 4th qtr net
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
but at the bank of nova scotia deputy chief economist warren jestin was less optimistic about the us outlook and said it could be a mistake to read too much into februarys trade upturn
for the first nine months of its fiscal 1987 year ended november 30 1986 nuclear data reported a loss of almost nine mln dlrs or 498 dlrs a share on revenues of 326 mln dlrs
boschwitz plans to introduce a 0 92 plan in the senate
uk money market given 25 mln stg late assistance
coal activities resulted in a net profit of 367 mln dlrs against 341 mln while salt raised its contribution to 47 mln from 28 mln
experts carrying out tank and computer tests to determine how the accident occurred will focus attention on the ships doors its ballast system and crew procedures he added
rexnord said the sale is part of a major program to divest several of its businesses representing about 200 mln dlrs in net assets
trans lux corp said its board declared a five pct stock dividend payable april nine to holders of record march 20
the icc had rejected in july on grounds it would reduce competition the merger of the santa fe and southern pacific railroads
economy ministry figures show exports rose to 49 billion dlrs in the first 11 months of 1986 from 41 billion in the same
in the weeks that followed the dollar continued to fall against the japanese yen despite massive dollar purchases by the bank of japan and other central banks and is now trading at around postwar lows
navistar nav up on higher earnings opinion
however the official said the final figure would be much less than that cited in earlier comments he gave no further details
shandwick buys los angeles pr company
bank debt had been cut by about one third to 256 billion francs against the end 1985 level of 385 billion
but the test came this week with the dollar falling below 181 marks and 150 yen
arizona and georgia planted 35 pct and two pct respectively it said
gencorp gy says rko unit sale terminated
shr 25 cts vs 32 cts net 2414500 vs 3027500 rev 262 mln vs 235 mln nine months shr 76 cts vs 82 cts net 7214900 vs 7752800 rev 692 mln vs 649 mln
as the offer for ae was not declared unconditional until december 5 it made a negligible contribution to turners 1986 results
that plan put forward by a senior member of the powerful business organization keidanren with the tacit backing of the post and telecommunications ministry has caused a storm of protest from abroad that japan is seeking to exclude foreign firms from a meaningful position in the market
marcade said this latest deal is part of an ongoing acquisition phase
four months later the usda estimated that 967 mln acres had been planted as of june 1
jacor communications inc said it agreed to buy two denver radio stations from ah belo corp blc for 24 mln dlrs in cash and notes
the bank of france said in its latest monthly report on the french economy it expected a pickup in industrial production registered in march to gather steam over the next few months
the move by foreign exchange markets to test the strength of the paris currency accord has thrown into question the near term outlook for sterling until recently one of the main beneficiaries of the agreement analysts said
dealers said institutional investors were reluctant to sell dollars aggressively today partly because of the ministry monitoring
april 30 end shr loss one ct vs loss two cts net loss 83116 vs loss 266037 sales 1393455 vs 1035500
ef hutton efh units purolator offer expires
speaking at a house agriculture subcommittee hearing on the use of the certificates amstutz said that the issuance of 85 billion dlrs of certificates during fiscal years 1986 88 could result in government outlays of up to 400 mln dlrs
he was among those advocating mining as a means of bringing iran to the neogtiating table
kobe rubber exchange to extend trading hours
us money growth slows sharply economists say
when it first disclosed its stake in wrather earlier this month it said it bought the stock for investment purposes
conoco which has completed geological prospecting for the tunisian government has transferred one third of its option rights in the region to ina it said
net charge offs were 109 mln dlrs down from 128 mln dlrs in 1986
the soybean crop is showing excessive moisture in some areas and producers fear they may discover more damage
pan alberta said the approved deal authorized terms of a two year interim contract amendment cash payments and transportation credits for pan albertas customers minimum yearly natural gas takes by united and a two year commodity price
comdata said wcas and its affiliate investors would commit 50 mln dlrs to buy the securities comprising the new entities units of securities resulting from the merger in the same proportions and at the same price as the company shareholders
national distillers dr sees second qtr gain
fed sets overnight system repurchases fed says
industry sources expect china to import at least 10 mln tonnes of grain this year because of the harvest shortfall
und frankfurter bank bhf is raising 30 mln australian dollars through a five year bullet eurobond with a 14 1 4 pct coupon and priced at 101 1 4 sole manager bhf said
but hans haumer head of the erste oesterreichische spar casse bank told that no cut should be made unless west german rates came down first
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
levon resources said the revised zone two assays compared to previously reported averages of 0545 ounces of gold a ton over a 103 foot section with average width of 4302 feet
banks provision for losses from bad loans in the fourth quarter increased to 217 billion dlrs a 23 pct rise from a year ago
brooklyn union said the long term contract will cover about 15 pct of its total supplies
four ships are currently loading 32000 tonnes including 24000 for egypt 6000 for tanzania and 2000 for mauritania
uk money market given 106 mln stg assistance
ec warns us and japan on trade tensions
media general says giant group affiliates have 98 pct of class a common stock
lsb industries inc said it entered into an agreement to acquire northwest federal savings and loan association of woodward oklahoma
applications for bills dated monday to friday at the top accepted rate of discount of 95261 pct were allotted about 81 pct
brazils trade surplus doubled in february to 261 mln dlrs from januarys 129 mln but was well below the 628 mln dlrs of february last year official figures show
the vote came as a stoppage by seamen entered its third week and as 55000 oil workers threatened action against the state owned petroleum company petrobras
a federal reserve spokesman told a press briefing that there were no large single day net misses in the feds reserve projections in the week to wednesday
they the kuwaitis have also asked britain china and possibly some other european countries to lease tankers to carry their oil one of the administration officials who asked not to be identified told 
the debentures will not be redeemable before april 1 1992 and are convertible any time to labatt common shares at 27 dlrs each said labatt canadas biggest brewery
today has been irrational irresponsible possibly the worst day in what has been a dire six months for the floater market commented a senior frn trader at a uk bank
the bank said the 17 year loan will support policy reforms designed to help increase the efficiency of the countrys manufacturing sector develop export enterprises and encourage efficient use of resources
he cited the default of 15 container leasees and ship charterers costing the company approximately 25 mln dlrs
new zealand will repay a portion of its 4248 billion nz dlr public debt for the first time since 1952 as a result of a 379 mln nz dlr budget surplus for fiscal march 1988 finance minister roger douglas said
high point sells debt and stock contracts
but you wouldnt see a rise grubman said the proposals will allow att to selectively raise or lower prices depending on the market
however cattle calf feed output the largest single component was 72 pct down at 435900 tonnes against 469900 tonnes
analysts said the market is anticipating a downward revision and much of the bullish impact has been discounted
arrivillaga said any instruments used to compensate landowners had to be freely tradable at near face value and added the challenge is to devise a system of deferred payments that is as good as cash he said the international financing community was watching the philippine experiment with great interest
the selling concession is 1 1 2 pct while management and underwriting combined pays 3 4 pct
intercare care drops offering buyout plans
disney family makes bid for holly sugar hly 
shr 41 cts vs 33 cts net 102 mln vs 8309000 revs 1933 mln vs 1577 mln nine months shr 129 dlrs vs 102 dlrs net 321 mln vs 254 mln revs 582 mln vs 4865 mln
in the six months to end september norcros reported a rise in pretax profits to 2014 mln stg from 1855 mln on turnover that lifted to 31182 mln from 30391 mln williams holdings began expanding from 1982 when it had a market capitalisation of around one mln stg
the adoption of such measures would not fail to have a negative effect on the process of multilateral negotiations just started as well as on bilateral relations it said
the decline in production in the nine months to end march reflected mainly a sharp dip early in the fiscal year when low oil prices and high marginal excise rates led to a reduction of output from bass strait department figures in its major energy statistics publication show
taiwan said its foreign reserves suffered about 34 billion us dlrs in exchange rate losses from july 1986 to february 1987 as a result of the rise of the taiwan dollar against the us currency
i want a fair crack of the whip for cable and wireless as i want a fair crack of the whip for britain generally in trading relations howard said
the six nations agreed in paris exchange rates prevailing then were broadly consistent with underlying economic fundamentals and further substantial rate shifts could damage growth and adjustment prospects in their countries the paris statement said
the companies said caremark shareholders of record as of june 26 will be entitled to vote at the meeting to be held in newport beach calif at 1000 pdt
biflyx 2nd qtr dec 31 net
for a government to take the view that it wants to keep order in utilities markets is not an unusual and or unreasonable view he said
they agreed however that further actions will be essential to resist rising protectionist pressures sustain global economic expansion and reduce trade imbalances
westpac banking corp wstps said it is cutting its indicator lending rate to 22 pct from 23 pct effective from june 15
the ministry estimates west germanys sugar self sufficiency during the current agricultural year july june unchanged at 137 pct
american oil and gas corp aog 4th qtr loss
american amr sets schedule for aircal merger
he said the 10 pct cross field allowance relief would favour chances that development of smaller north sea fields such osprey don and arbroath would be brought forward
den danske launches 200 mln dlr euro cd programme
a decline in us transatlantic traffic following terrorist attacks in europe the us bombing of the libya the chernobyl disaster and a slump in the oil industry which affected middle east traffic were the main causes of the loss thomson said
polly peck international plc said it has agreed to place 10 mln new ordinary shares at 203p each with a group of institutional investors
the company in the proxy statement mailed to 135000 stockholders for its may 21 annual meeting in savannah ga said the added shares will be needed to complete its proposed buyout of american motors corp amo chrysler also said the additional shares could be used for future acquisitions financing transactions stock dividends or splits and employee benefit plans
the trade subcommittee backed away from mandating specific retaliation against foreign countries for unfair foreign trade practices as the house had approved in a trade bill last year
gulf resources and chemical corp said the sale of its stake in imperial continental gas association will result in a pre tax profit of about 441 mln dlrs or 469 dlrs per share fully duliuted in the first quarter of 1987
the environmental protection agencys five to 10 mln dlr suit against a browning ferris industries inc bfi unit cecos international inc caused the stock to drop today analysts said
the planned three billion baht issue would carry a term of six months to one year as a short term move to mop up surplus funds held by commercial banks
note full name of company is aegon nv aegnas
the companys shares were trading off 1 1 2 at 15 1 4
pins are tradable foreign currency denominated financial instruments with a six year maturity designed for conversion into pesos to fund government approved equity investments within the philippines
assets per share equalled 6568 guilders against 6553
the united states closed their borders at a certain stage to some foreign goods and therefore protected its industrial development
twa vice president and general counsel mark buckstein said twa also sought a declaratory judgement from the court that its 52 dlr per share takeover offer for usair would in no way interfer with usairs possible buyout of peidmont aviation inc pie buckstein said twa asked the court to enjoin the enforcement of usairs shareholder rights plan or poison pill such provisions which typically allow for the issue of securities to shareholders in the event of a hostile takeover bid are aimed at deterring takeovers by making them more expensive
conracs president vice president and treasurer were given severance agreements or golden parachutes it said
because of the key role the us plays in the debt crisis foreign banks in particular wanted time to analyze the significance of the policymakers comments bankers said
on the fiscal side yeutter said the budget deficit is still our biggest problem and there has not been enough progress toward reducing that deficit
at the end of 1986 audis workforce stood at a record 39800 a rise of 3400 over 1985
denominations are of 1000 and 10000 canadian dlrs and listing is in luxembourg
great american issues 15 billion yen eurobond
and daiwa ran the books for an offering in the us earlier this month
holdings plc rtrsl said it had agreed in principle to buy i p sharp associates ltd of toronto for 304 mln stg
hanover insurance co said its stockholders approved a two for one stock split
the meetings featured a gathering of the 10 directors of cipecs regional copper development and promotion centres which are based in europe japan india and brazil
texas eastern corp tet 3rd qtr net
a spokesman for the governor said the company proposed several amendments to perpich designed to make any takeover attempt in the state more difficult
an additional 7199 head of dairy cattle are still available to egypt under the export enhancement program initiative announced september 12 1986 the department said
if the dollar resumes its slide the ems could be in for more turbulence they predict
he helped baker devise the september 1985 plaza agreement when the united states japan west germany france and britain curbed the dollars strength
also on verhofstadts list are the maritime transport authority leading gas distributor distrigaz cger savings bank cger and several other credit institutions
bankers generally said ncb riyad bank and the joint ventures samba saudi french and arab national bank rank as the strongest earners
recent acquisitions in north america had strengthened lucas aerospace and lucas industrial systems
de clercq talking to journalists during the meeting said there is a certain nervousness a growing impatience within the community concerning trade relations with japan but diplomats said the ec is keen to negotiate with tokyo to solve the problem rather than embark on a costly and damaging trade war and the ministers called for more cooperation with japan in industry and research
the notes were assigned a 20 pct coupon and priced at par to yield 150 basis points below comparable new zealand rates
ramada inc said it filed a registration statement with the securities and exchange commission covering a proposed offering of 100 mln dlrs of 12 year subordinated notes through underwriter salomon brothers inc
the notes have an 8 1 8 pct and were priced at 9963 to yield 93 basis points more than comparable treasury securities
in the year ago period it said proved reserves were estimated at 3464 thousand cubic feet of gas and 1974000 barrels of oil
mcgraw hill mhp divests south african unit
ecuador official seeks oil aid in venezuela
the central bank purchased bills in band one at 9 7 8 pct comprising 267 mln stg bank bills four mln stg local authority bills and one mln stg treasury bills
the new contract to start trading on june 1 is lmes first dollar contract
the education project will be supported by a 145 mln dlr loan through the international development association the banks concessionary lending affiliate the bank said
india to get uk coal steel industry grants
asea group aseay sees flat 1987 earnings
the report said us oil imports rapidly rising could hit 50 pct by the mid 1990s and have potentially damaging implications for national security
the private sector still feels inhibited he said
terms of the agreement were not disclosed
unocal ucl unit offers 450 mln dlrs of notes
it did not elaborate on financial terms of the issue
the ugandan government depends on coffee export duties for about 60 pct of its sales tax revenue and the industry employs over half of salaried manpower
as part of the financing it received a commitment letter subject to standard conditions for 133 mln dlrs of project financing from credit suisse
some analysts said tariffs would also harm us industry by stepping up offshore production and by reducing demand in japan for semiconductors us firms are trying to sell here
federal funds which averaged 614 pct yesterday opened at 5 15 16 pct and remained there in early trading
soyabean oil imports were 32000 48200 sunflower oil 61600 92800 rape oil 82900 94900 and groundnut oil 9300 12200 exports of soybean oil were 325900 338800 sun oil 172100 189800 rape oil 114300 103400 and groundnut oil 7000 10400 animal fat imports rose to 371700 from 345800 tonnes and exports to 124100 tonnes from 113000
fiji today welcomed the ending of a trade ban imposed by australian labor unions as supporters of the countrys ousted prime minister timoci bavadra renewed pressure for his reinstatement with strikes and shop closures
uncertainty however remained the flavour of the day in tokyo currency markets
leaseway transportation corp said it has completed the previously announced sale of its leaseway of puerto rico inc subsidiary to caguas central federal savings bank for undisclosed terms
sasco products inc year loss
nationwide had 1986 property casualty loss
however countertrade deals still make up only a small part of indias total trading and are likely to account for less than eight pct of the estimated 1853 billion dlrs in trade during the nine months ended december the sources said
shr 30 cts vs 10 cts net 560000 vs 177000 revs 9700000 vs 7700000 avg shrs 1877203 vs 1839752 nine mths shr 80 cts vs 28 cts net 1480000 vs 524000 revs 283 mln vs 228 mln avg shrs 1854478 vs 1899769
there is an 11 pct cap
brusca of nikko agreed that the fed probably is aiming for two week average discount window borrowings of around 300 mln dlrs
american realty arb sets record date for offer
profit on ordinary activities after tax was 662 mln stg up from the previous years 607 mln
first national corp ftnc 4th qtr
charan is the exclusive distributor in canada for worlds of wonder toys which include the teddy ruxpin voice activated talking plush bear
canada plans new bond issue april 14
delegates said many differences of opinion still have to be ironed out
jc penney co inc said it signed a letter of intent to acquire one mln shares or a 20 pct equity interest of beebas creations inc beba for 1875 dlrs a share
remsperger said continued strong money supply growth also precluded a further cut in official interest rates
scallop petroleum corp a subsidiary of royal dutch shell group said it will raise contract prices for heavy fuel 50 cts to one dlr a barrel effective tomorrow
piedmont has an outstanding 65 dlr cash per share offer from norfolk southern corp
northgate which produced 23400 ounces of gold in first quarter said that while the strike slowed production we are still looking forward to a very satisfactory performance the chibougamau mines produced 81500 ounces of gold last year
oper shr 39 cts vs 47 cts oper net 2104462 vs 2452420 revs 4675904 vs 4744248 avg shrs 5427561 vs 5139415 1st half oper shr 82 cts vs 93 cts oper net 4418718 vs 4609613 revs 9346483 vs 9338590 avg shrs 5427486 vs 4943966 note current year net excludes gains on sale of real estate of 470778 dlrs in quarter and 1533273 dlrs in half
moodys investors service inc rates the notes at a 2 compared with a plus from standard and poors corp
roderick said carl ichan who terminated an eight billion dlr hostile takeover plan for usx in january continued to hold a sizable interest in the company
first city said the article was not confirmed by the company and it cautioned that there is absotluely nothing to say or report beyond its statement
varity corp year shr loss 21 cts vs loss 16 cts
proceeds will be used principally for acquisitions of companies that complement or expand thermos existing line of business and for general corporate purposes it said
chrysler corps chrysler motors corp said its chrysler training corp non profit organization sold the name and assets of its motech auto mechanic and body shop schools to o e corp of troy mich
further marked dollar fall would burden us trade deficit stoltenberg
chemclear inc said it terminated merger talks with environmental systems co esc chemclear said it was unable to reach agreement with environmental which was considering buying chemclear
private traders protested last year that epac was being permitted to take part in tenders open to them for the first liberalised 20 pct share of the countrys annual import needs
cotton sales of 57900 running bales 43800 bales for the current year and 14200 bales for the 1987 88 season were off 25 pct from the previous week and 50 pct from the four week average
the debentures will be sold through a syndicate of underwriters managed by salomon brothers inc and first boston corp
for instance if three month libor rises to 15 pct during the life of the floating rate tranche and falls back below the 11 pct cap investors would be paid back dollar for dollar the amount of interest they would have received if the cmos did not carry a maximum interest rate a kidder officer said
revenues last year fell to 191 mln dlrs from 2233 mln while profit fell to 44 mln dlrs from 131 mln
no talks set on proposed japan telecom merger
it can permit us to return to a growth rate which is much better than we could achieve in isolation
yield rises on 30 day sama deposits
the company said it would recommend a quarterly rate of 23 cts a share on the split stock
trading in either crude palm oil cpo or refined palm oil may also be introduced
fendt said that imports were running at levels well above the traditional average for brazil
western digital corp said it plans to call for redemption on april 6 all of its approximately 47 mln dlrs principal amount of 6 3 4 pct convertible subordinated debentures due 2011
about 60 of mexicos 430 or so creditor banks worldwide have still to join the loan but four more acceptances were received today according to senior citibank executive william rhodes who is co chairman of mexicos advisory committee
heller said that would mean the steady decline of americas banks in the world financial league tables would be arrested by permitting them to become more competitive
i am astonished that the ec commission would propose such a provocative measure so soon after we successfully resolved the agricultural dispute over the enlargement of the ec to include spain and portugal yeutter said
it said apollo partners was recently organized by three former senior viacom inc via executives terrence a
insituform of north america inc insua 4th qtr
raab karcher ag a trading subsidiary of veba ag vebgf said it increased operating profit in 1986 despite a sharp decline in turnover and added there were good chances this profit level could be held in 1987
he also said improvements in the trade deficit should come from other sources besides the exchange rate and pointed out the administrations package to improve us competitiveness was now before congress
a reagan administration official said this would show there had been some change in approach on the part of the central bank in germany
it projected the weeks truck output at 80168 up from 72026 a year earlier
this offer disproves the constant derogation of the sourthern pacific by sfsp management best exemplified by sfsp chief executive john schmidts comment in icc hearings that the southern pacific was bankrupt said rowland
qtly div 35 cts vs 35 cts prior pay april 30 record april 10
first mortgage bonds and collateralized pollution control revenue bonds have been raised to dampp 6 middle a from dampp 7 low a debentures raised to dampp 7 from dampp 8 high bbb and preferred stock raised to dampp 8 from dampp 9 middle bbb about 766 mln dlrs of debt is affected
the planned linkup will satisfy tokyos request that only one private company should enter the market
emery air freight corp said it has entered into an agreement with ef hutton group inc efh under which hutton will terminate its merger agreement with purolator courier corp and its pending 35 dlr per share tender offer effective april 13
it had help in that effort from jefferies group inc a los angeles investment banking firm which sold it an option on a portion of the shares sugarman eventually acquired
boschwitz told that neither he nor the us agriculture department had decided whether or how deficiency payments should be guaranteed to farmers who might choose not to plant under the decoupling scheme
the securities to be redeemed would be the three pct perpetual rente five pct perpetual rente four pct 1941 1960 redeemable rentes 35 pct 1942 1952 redeemable rentes three pct 1942 1955 redeemable rentes three pct 1945 1954 redeemable rentes and 45 pct 1933 1960 redeemable treasury bonds
in addition deductions for taxes freight handling and storage are deducted from the gmp the farmer receives
a house banking subcommittee approved legislation which would require the treasury secretary to begin negotiations on the establishment of an international debt adjustment facility
there is still a lot of work to be done on a number of clauses of the international coffee agreement and we would not welcome quota reintroduction until we have a complete renegotiation de vries added
there is a lot of gmac paper out there the executive added referring to the units past offerings
there were rumours on the london coffee market earlier today that dauster would not attend the meeting
in addition she said that the federal home loan bank board in a letter dated january 26 1987 stated that through march 31 1988 it will continue to support the companys efforts to restructure its balance sheet maintain profitable operations and augment net worth
congressional sources said there has not been enough time to study the implications of a broad 0 92
chase econometrics chairman lawrence chimerine said the pick up in the us manufacturing sector is largely due to the drop in the dollars value
shultz ussr trip fuels talk of eep wheat offer
china crop weather summary usda noaa
a 300 mln dlr offering of notes due 1997 was assigned an 8 3 4 pct coupon and priced at 99447 to yield 8834 pct or 160 basis points over treasuries
the company gave no further details but said a further statement would be made shortly
synalloy corp said it has ended talks on the sale of its blackman uhler chemical division to intex products inc because agreement could not be reached
the important thing is that this rate of 7 8 pct is a marker for new negotiations and will save us 50 mln dlrs this year lusinchi said
baldrige will be in peking from april 21 to 24
in common with venezuela he expressed reservations on the conditions that might be placed as a result of washingtons proposals for increased iadb sectoral lending but welcomed a bigger role for the bank in us debt strategy
political deadlock is reflected in the pounds position
commonwealth bought the plant in january 1985 and closed it feb 15 1987 leaving about 400 workers jobless
mexico hit by a catastrophic earthquake and declines in world oil prices also boosted its non oil exports by one third in 1986 the highest growth rate in its post war history
this point has been made to the japanese at official level a number times the official added
henley group inc said it declared a special dividend distribution of one fisher scientific group inc share for every 16 henley shares
chemlawn chem rejects wastes wmx offer
prudential bache analyst mark rogers was not available for comment
a company spokesman said the board expects to make a recommendation shortly but could not specify a time period
the spokesman declined to elaborate
a world recession is unlikely this year as fiscal and monetary policy in most industrialized countries is supporting the economy deutsche bank ag dbkgf management board joint spokesman alfred herrhausen said
alaska housing finance gets credit euro cp pact
crane co said it will redeem on march 31 all 75 mln dlrs of its outstanding 8 3 4 pct convertible senior debentures due october 1 2005 at 107875 pct
the brandon sun has daily circulation of 19100
in effect large banks say they are making new loans that fund the interest payments on the old debt
westcorps western financial auto loans 2 inc said it has commenced an offering of 125 mln dlrs of aaa rated automobile receivable collateralized bonds
rotterdam grain handler says port balance rose
keeping money supply developments in check is not always synonymous with raising interest rates especially when excessive liquidity due to inflows from abroad rather than growth in bank credits is the cause of rising monetary holdings of non banks mueller said
commercial national corp cncl cuts quarterly
commenting on the article he said the details of the package have not yet been settled
trinova corp tnv 3rd qtr net
metropolis of tokyo sells 10 year bonds
asked to comment on remarks by some us officials calling for a further decline of the dollar miyazawa said only the us president and the us treasury secretary can make official statements about exchange rates
south korea signs for 446 billion yen credit
guardian royal sees expansion in life assurance
shares validly tendered represented about 9875 pct of the outstanding shares of supermarkets general the announcement said
the media company said it currently has 40950000 common shares issued and outstanding and upon completion of the reverse split will have 1638000 shares outstanding
ball bll ends talks with monsanto mtc 
treasury balances at fed fell on march 5
the following proposed securities offerings were filed recently with the securities and exchange commission wells fargo and co wfc shelf offering of up to 250 mln dlrs of subordinated capital notes
he did not say where the money would come from
m 3 which is non personal fixed term deposits and foreign currency deposits of residents booked at chartered banks in canada fell 129 billion dlrs to 21633 billion dlrs
calmar clmi seeks to be acquired by kebo ab 
fmd inc in merger agreement
bankamerica says 1st qtr net to be cut by 40 mln dlrs due to brazilian loans
galveston can earn a 50 pct interest by spending six mln dlrs in exploration and development work on the property by december 31 1989
the next meeting is scheduled for april 16
several indepndent oil companies such as permian corp and coastal corp cgp said they had moved prices up effective last friday the day sun co sun announced a 50 cts a barrel increase to 1900 dlrs a barrel
cardenas said these countries apparently fail to understand the true impact of such a failure for coffee producing nations as well as for industrialized countries
japan intervening to keep dollar up brokers
japan has complained to the secretariat of the general agreement on tariffs and trade gatt that south koreas five year plan to cut its trade deficit with japan breaks gatt rules trade ministry officials here said
the federal reserve entered the government securities market to arrange two day repurchase agreements for system account a spokeswoman for the new york fed said
previously exchange rules required the first three limited months to move the limit in coffee and cocoa
the dollar had tumbled nearly three pfennigs as the market reacted to bakers criticism of rising west german interest rates and stock markets crashed worldwide
we will be glad to have him here but thats not going to affect a decision thats already been made yeutter said
high short term interest rates a bullish stock market and an increasingly stable currency reflect a massive inflow of fresh funds in the last two months largely from japanese and us investors analysts polled by said
the fed has to determine if this represents a fundamental change for the dollar
meanwhile the systems last realignment the 11th since it was set up prompted european finance ministers to ask the ecs highly secretive monetary committee and committee of central bank governors to come up with suggestions for reinforcing it
the company reported a profit of 365883 dlrs 23 cts a share for the first quarter last year with one cent a share coming from non operating factors a spokesman said
the operation has an evergreen facility and can be extended up to eight years bnp said
shr loss 30 cts vs profit 11 cts net loss 1247000 vs profit 454000 revs 123 mln vs 175 mln year shr loss 24 cts vs profit 32 cts net loss 979000 vs profit 1303000 revs 606 mln vs 617 mln
gencorp earlier urged shareholders to reject a 100 dlr per share tender offer from the partnership which includes wagner and brown and afg industries inc
june july lower mississippi river memphis cairo offered at 120 pct no bids
senior delegates pessimistic on ico talks
the securities of the xerox corp unit are not callable for seven years
there will be an immediate repayment of three pct to all the banks to be followed by various payments at six month intervals over the life of the agreement totalling some 15 billion dlrs
the less dependent non banks are on bank credits the harder it is to steer money supply
while nynex would have prefered the unqualified lifting of all of the modified final judgement restrictions we intend to urge judge harold greene to act as quickly as possible to approve the recommendations staley told a news conference
third quarter net fell to 2060 mln dlrs from 2386 mln a year earlier and 2203 mln in the second quarter ended november 31 bhp said in a statement
the commission is trying to identify ways of saving costs and boosting efficiency of the grain handling system
lme clarifies new aluminium contract details
nippon steel corp nstct plans to reduce its dividend to three yen in the year ending march 31 1987 from the five yen of 1985 86 a company spokesman said
some early selling pressure softened the dollars undertone
county savings bank said its board declared a five pct stock dividend payable april 10 to shareholders of record today
a spokesman at strike headquarters for the seamen in rio de janeiro said unions were studying an offer by private shipowners for a 120 pct pay rise
the change affects 515 mln dlrs in debt and assumes a merger of the two companies will be completed
business day newspaper said the latest credits extended to nmic include a 127 mln dlr loan with chemical bank as the lead agent
we can double our earnings over the next five to seven years he told a banking analysts meeting adding that this forecast may be on the conservative side
avalon corp said that deltec panamerica sa has arranged to sell its 23 pct stake in avalon and that deltecs three representatives on avalons board had resigned
the company in a detailed report estimated the harvest as high as 83 mln tonnes and said if this forecast is met the ostensible surplus for export will be approximately 225 mln tonnes
the inflow of long term capital into west germany slumped to 606 mln marks in february from januarys record 1191 billion with foreign purchases of german bonds and shares declining sharply the bundesbank said
yeutter says us budget deficit reduction key to trade deficit solution
the un program approved last year calls for 128 billion dlrs of economic investment in africa over five years
us trade official says japan action foolish
commerce clearing house inc cclr hikes div
1985 yr figures excludes 537950 dlrs or 42 cts per share representing insurance proceeds from a fire that occurrred in 1983
dart said it remains interested in acquiring sgl on a friendly basis and reiterated its willingness to negotiate all the terms of its offer
she sees the stock going to the mid 30s or higher
de tomaso industries inc dtom year net
if the icc ultimately decides not to reopen the case it is expected to reinstate the divestiture order
colombia denies selling coffee below market
after a failed first attempt earlier this year rorers latest merger plan calls for a share swap worth about 720 mln dlrs
company is 815 pct owned by electro audio dynamics ead
ecuador posted a trade surplus of 106 mln dlrs in the first four months of 1987 compared with a surplus of 2717 mln in the same period in 1986 the central bank of ecuador said in its latest monthly report
he said the reshadat rigs 120 miles 200 km east of bahrain in international waters were in the final stages of reconstruction after an attack by iraqi jets last year
and if us west texas intermediate crude continues to trade above 20 dlrs a barrel there is a greater chance that opec will raise its official 18 dlrs price said nauman barakat analyst at smith barney harris upham and co
p young co subsidiary said it agreed to acquire atwell fleming printing ltd a canadian financial printer for about 32 mln dlrs
last january japanese exports to the ec totalled half of of sales to the us against about a third in recent years
the bank of england said the issue announced on monday and available for official dealings from this morning was no longer operating as a tap
ecolab inc said it has started its previously announced tender offer for all shares of chemlawn corp at 3650 dlrs each
geonex corp geox said bellsouth corp bls unit southern bell telephone and telegraph cos decision to postpone the start up of new conversion assignments at geonexs chicago aerial survey unit could negatively affect its fiscal 1987 revenues
perceptive systems a venture capital firm based in houston makes digital imaging equipment
the company said if it reinvested proceeds in a similar property within 24 months the gain on the sale would be deferred for tax purposes
amoco raises most crude postings 50 cts today wti to 1900 dlrs
indonesias coffee output in 1986 87 ending september 30 is expected to stagnate or fall slightly from last years level of 360000 tonnes he said
bauer said siemens and french telecommunications firm jeumont schneider sa submitted a joint offer at the start of march because of the 20 pct limitation
domestic consumption increased 73 pct to 192069 tonnes for the three month period but this was not sufficient to prevent a significant rise in stocks which climbed to 162 mln tonnes by the end of january compared with 152 mln a year earlier
kayaba industry issues 50 mln swiss franc notes
soviet union features in uk grain exports
the agreement reached today differs very little from the one reached a little over a year ago
the other power project supported by a 375 mln dlr loan plans to aid in the first phase of a power generation complex in eastern india the bank said
the group includes soros and quantum fund an offshore investment firm headquartered in curacao netherlands antilles that is advised by soros
in its weekly petroleum status report the department of energy agency said gasoline stocks were off 500000 barrels in the week to 2510 mln barrels and refinery crude oil stocks fell 12 mln barrels to 3318 mln
deutsche bank sees slow start to 1987
production of capital goods fell 2 1 2 pct while output of consumer goods was unchanged
the official who asked that his name not be used said the national security council the treasury and state departments and other agencies held a meeting yesterday to discuss the situation
the bank of england said it had given the money market a further 152 mln stg assistance in the afternoon session
orbit oil and gas ltd said the value of its oil and gas reserves increased by 19 pct to 526 mln dlrs from 442 mln dlrs reported at year end 1985 according to an independent appraisal
saga spokesman roy halvorsen told he expected gabonese officials would reply to the application by easter
frances regie nationale des usines renault agreed to forgive 150 mln to 200 mln dlrs of american motors corp debt as part of chrysler corps c 15 billion dlr acquisition of american motors a chrysler official said
city resources will act as operator
josef koerner chief economist of the west german ifo institut said in a newspaper interview he expected 1987 tax revenue to be some 11 billion marks below estimates by the west german government in november
central capital plans three for two stock split
pope and talbot inc said it expects first quarter earnings to total about one dlr per share compared with a year earlier loss of nine cts per share
jacobs suchard increased its market share in west germany to 449 pct from 399 pct in 1985 largely as a result of acquisitions
purolators deal with hutton was also called into question by a shareholder suit filed earlier this week which attempted to stop the tender offer to allow another bidder to come forth
biotech capital bitc to buy magazine
a caesars world spokesman said the company was declining comment on the sosnoff move for the moment but caesars may issue a public statement after it has studied the offer
the outstanding balance also included deposits at banks and post offices up 74 pct to 337867 billion yen savings in the form of insurance up 186 pct to 111431 billion corporate bond investments up 78 pct to 46867 billion and investments in trust banks up 41 pct to 27220 billion
victoria state body issues canadian dlr eurobond
southwest said if the attempts to restructure debt do not succeed it could lose one or more of the properties
the spokesman declined to say from whom it may buy the other shares to create a majority stake in the firm
the law would allow eligible farm workers who worked for 90 days during the year ending may 1 1986 to apply for temporary then permanent resident status
the new 1987 tax laws will not hurt the economy and the tax reform act of 1986 significantly lowers tax rates and will greatly increase private production incentives he said
amr corps american airlines and citibank are expected to announce a joint marketing program at a press conference tomorrow analysts said
oper shr 23 cts vs 77 cts oper net 5255179 vs 176 mln revs 378 mln vs 737 mln note cash flow 195 mln dlrs or 86 cts shr vs 367 mln dlrs or 162 dlrs shr
a typical 20 year mortgage bond had risen to 81 by noon from 79 1 4 at the close last night
it was guranteed by general motors acceptance corp and was quoted on the 1 3 4 pct fees at less 1 3 4 pct bid
the pins provide a mechanism to finance the growth needed by these debtor nations provided they are willing to welcome foreign equity investment into their economies ongpin told a businessmens meeting
asked if the us federal reserve board agreed in paris last month to intervene to stabilise exchange rates miyazawa said yes the sources said
stone container added that the series c preferreds redemption price is 5315 dlrs plus accrued and unpaid dividends of 12 cts for a total of 5327 dlrs a share
it said proceeds will be used to pre pay a portion of its existing floating rate bank debt thereby extending the maturity of the companys overall debt structure
they said citicorp is likely to convert the branches to banks at that time
1986 net both periods includes charge of about 458000 dlrs from severance obligations
commenting on that meeting he said so far so good yesterday british farm minister michael jopling said enough ec states appeared to be opposed to the proposals by the commission for a 330 european currency unit a tonne tax on vegetable oils fats and marine oils for the moves to be defeated
cavaco silva has accused the left wing opposition parties of blocking key economic reforms
the company last declared a stock dividend also 10 pct in march 1986
all sales under the credit lines must be registered and exports completed by september 30 1987 it said
the loss included a charge of 38 mln dlrs from redemption of debentures
may department stores co reporting record results for the fourth quarter ended january 31 said it is encouraged about the new fiscal year by a strong start in february and march
analysts said differences between sugar exporting countries have held up any progress towards an accord with economic teeth while sheer competition between major exporters amid a world grain glut militate against any pact with economic provisions for wheat
security pacific corp said it completed its previously announced acquisition of orbanco financial services corp after receiving federal approval of the deal
brazils seamen are the second worst paid in the world after ghanas dos santos said
mohler said the cold front now over the eastern belt is expected to move over the central midwest then move north later in the week
the rric 103 is a new clone propagated by the research institute as high yielding and recommended two years ago for planting
the term of the loc is five years with an evergreen feature which provides for annual reinstatement of the five year term at the support banks option iel said
the bank of japan will sell tomorrow a total of 800 billion yen worth of financing bills from its holdings to help absorb a projected money market surplus of 1700 billion yen money traders said
sale tilney buys stake in us insurance broker
lone star lce to add five cement terminals
the basic deposit on cocoa futures contracts will be reduced by 25 pct as from friday april 10 taking the required deposit for one 10 tonne lot to 300 stg from 400 previously a spokesman for the international commodity clearing house icch said
shr 450 dlrs vs 430 dlrs net 6374 mln vs 5885 mln revs 395 billion vs 410 billion avg shrs 1417 mln vs 1369 mln
bahrain based arabian investment banking corp investcorp ec is raising 60 mln dlrs through a medium term revolving multi purpose facility arranger and co lead manager arab banking corp abc said
general acquisition made its statement in a letter sent to the gencorp board on friday
non callable to maturity the issue pays quarterly and is rated a 1 by moodys and aa minus by s and p
hikmat nashashibi president of the arab bankers association said arab banks have to shake off their old mentality of commercial banking and concentrate more on investment banking
ny business loans fall 195 mln dlrs in feb 18 week fed says
the company said it paid a total of 8700000 dlrs including the assumption of liabilities
in the six months to february m2 which excludes time deposits with statutory withdrawal notice rose at a seasonally adjusted annual rate of 88 pct and m1 which consists of cash and sight deposits rose seven pct
moodys investors service said it is reviewing 648 mln dlrs of securities issued by atlantic city electric co for a possible downgrade because of an unresponsive rate order from the new jersey board of public utilities
the sources said brazilian beans were cheaper than us origin which may account for the heavy purchases but added there were concerns about deliveries from brazil in the near term due to labour problems there
pacificare phsy in talks to acquire hmo
the debt is rated a 2 by moodys and a by s and p
visual graphics corp vgca vgcb said its board declared a quarterly dividend of 7 1 2 cts per share on its class b common stock and 8 1 4 cts per share on class a common stock payable april three to shareholders of record as of march 23
fabricated metals increased to 814 pct in february from 812 pct in january while motor vehicles and parts jumped to 836 pct from 800 in january
veslefrikks oil will be landed via the nearby oseberg field pipeline at the sture crude terminal near bergen
its competitors are dow chemical co dow and monsanto corp mtc he said
the commercial paper programs of mellon bank canada and mellon australia ltd guaranteed by the parent company were lowered to a 1 from a 1 plus
owned by john r
japans consumer price index base 1985 was unchanged at 997 in february from a month earlier the governments management and coodination agency said
the march 9 sale to be evenly divided between the three and six month issues will result in a paydown of 245 billion dlrs as maturing bills total 1565 billion dlrs
total sales for the same period are expected to rise to 5506 billion yen from a projected 5328 billion this year ntt said in a business operations plan submitted to the post and telecommunications ministry
but edward e
caisse nationale des autoroutes is issuing a three billion french franc bond the french bond issuing committee said
after five months of arduous work syndicating the loan debt fatigue was apparent and the talk was of ways to make the financing process less cumbersome
gms gm pontiac has interest rate incentives
terms were not disclosed
the level of the dividend however ought not to be affected he added discussing the 1987 outlook
north american group namg 4th qtr oper loss
the governor said the six major industrial nations are expected to review last months pact on currency stability when they meet next in april
in the three business days through monday the federal funds rate at which banks lend to one another averaged nearly 6 1 4 pct
garcia said the government would soon install a two mln dlr treatment plant at tomaque
j pete silas said his companys stock ranked fourth on the most active list of stocks traded today rose partly because of steps it took to pare its debt
credit national issues billion franc convertible
the company said the new posted price for wti and wts is 19 dlrs a barrel
the cocoa will be priced according to a fixed set of differentials ranging from 137 stg for most expensive ghana cocoa to zero for malaysian cocoa
waste management says it is prepared to raise its bid for chemlawn to 33 dlrs a share
american electric aep unit sells bonds
at 130 dlrs a share ibms first quarter net income easily topped most estimates on wall street which had ranged from an even dollar to 120 dlrs
the implementation of our plans moreover will enable us to maintain a majority interest in shearson while enhancing the strength of our balance sheet by tapping additional capital resources for shearson outside american express
sri lanka tendering overnight for wheat
the subcommittee had not yet completed the preparatory work to start writing the legislation the aide said
he said it will allow foreign creditors to convert unpaid private sector debts into bolivar denominated shares of stock in the debtor companies
bank of tokyo issues 100 mln sfr convertible
dixons which is offering 9025 dlrs a share for cyclops said last week it had about 54 pct of cyclops common shares
at the annual drexel burnham lambert construction conference here hovnanian executive vice presidnt ara hovnanian said the company expects an earnings range of between 235 dlrs and 255 dlrs per share for fiscal 1988
treasury secretary james baker said in a newspaper interview that he supports the current course of federal reserve board monetary policy
the heavy volume also meant most borrowers except the very best addresses were having to accept higher coupons
the company named alex brown and sons inc as lead manager with first boston corp and shearson lehman brothers inc as co managers of the offering
statoil has been offered the operatorship on a new block in the relatively unexplored moere south exploration area south of haltenbanken with a s norske shell texas eastern and petroleo brasileiro sa petrobras also offered stakes in the block
he said the company was on course for independent recovery and was expected to reduce its losses further in 1987
dealing services remain excluded from such countries
the forecast does not assume a turnaround in production levels until late next year
more heavy rains in argentine grain areas
any acquisition candidate would have to have a different economic cycle than copper substantial earnings and good management he said
hj heinz hnz poised for record year
uk retail sales rise 22 pct in february
washington federal savings wfsl quarterly div
the selling concession is 1 1 2 pct while management and underwriting combined pays 3 4 pct
family steak houses of florida inc ryflo 3rd
the most important thing now is ensuring that the accord is working not dealing with a differential of cents between grades but if any opec member raised concerns or objections over the differential system a meeting would be called he said
in addition the country has 450000 tonnes of flat storage capacity he added
traders in the region meanwhile said prices might be pressured by the new pact in the long term as its potential to stabilise prices and buffer stock capacity would spur producers to produce more
in a bid to hasten japans promise to speed up its economic growth and open markets to foreign trade top us officials appear once again to have signaled their tolerance of a lower dollar
firstcorp inc said it weill report an after tax gain of 1827000 dlrs or 56 cts per share primary and 42 cts fully diluted from the proposed condemnation and acquisition of a parking deck it operates by wake county
locally heavy rains accompanied the storm over portions of the central plains
hokkaido takushoku bank issues convertible bond
they reaffirmed our agreement to coordinate economic policies to provide for non inflationary growth and stable exchange rates reagan said
three previous rounds of talks between rubber producers and consumers for a new five year pact ended without agreement
japans jobless seen rising to 33 pct in 1987 88
german net currency reserves rise
the treasury said non competitive bids will be accepted for all three issues
the current south american oilseed harvest mainly soybean is likely to be around 257 mln tonnes against the previous 217 mln tonne crop they said
imports from the united states are estimated at 15 mln tonnes compared to only 150000 tonnes estimated for the 1986 87 year it said
shell eastern petroleum pte ltd mobil oil singapore pte ltd caltex asia ltd singapore petroleum co pte ltd and bp singapore pte ltd are pricing 97 octane at 968 cents
oper shr four cts vs three cts oper net 340036 vs 223297 revs 111 mln vs 9514115 avg shrs 8926909 vs 7672146 note net excludes tax credits of 252160 dlrs vs 152717 dlrs
the company said the sale a previously announced agreement for coca cola to buy 1600000 coke consolidated common shares and operating cash flow should allow it to reduce its long term debvt to about 200 nmln dlrs from 325 mln dlrs at the end of the first quarter
it said the dividend was payable april 20 1987 to shareholders of record april 6
applied circuit acrt sells electronics business
cut were its senior debt to ccc plus from b minus and subordinated debt to ccc minus from ccc
there have been far fewer signs of the kuwaiti dinar market shifting from its natural base of kuwait and trading in bahrain and london is still limited
morgan stanley issues warrants into japanese firm
the interest surplus which fell to 8979 mln marks from 9811 mln was also depressed by the 01 point fall in the interest margin to 19 pct
shr 15 cts vs 15 cts net 689561 vs 784088 sales 192 mln vs 198 mln avg shrs 47 mln vs 53 mln note 1986 net includes a gain of 108000 dlrs or two cts a share from proceeds from the sale of property
aweke said peasants in wello tigre and hararghe regions which suffered severely from drought were now able to sow their crops because of the favourable rains
in annual average terms inflation would fall to two pct in 1988 from 25 pct this year and 27 pct last year it said
kenyan farmers are anxiously awaiting the arrival of the long rainy season which is due to start about now
the state offers cheap fertiliser and diesel oil and payment in advance to farmers who contract to supply grain at a low state fixed price
energy california oil production
the commonwealth bank of australia said it will lower its reference rate for loans to 1575 pct from 1625 pct and its overdraft reference rate to 1625 pct from 1675 effective june 24
bank of japan buys dollars around 14900 yen tokyo dealers
s and p said valeros financial flexibility would improve as the company plans to use proceeds of roughly 760 mln dlrs from a proposed sale of natural gas operations to reduce debt
diablo has a bank offices in danville san ramon and alamo calif security pacific also said
prime minister margaret thatcher widely believed to be the strongest government opponent of full ems membership has made clear she does not expect to consider joining until after the next uk election due by mid 1988 at the latest
university of missouri agricultural economist glenn grimes said the probabilities are high that in order to place that many cattle on feed they feedlot operators had to go to lighter weight cattle
standard and poors corp said it expects the asset backed securities market to grow dramatically over the next few years spurred by what it termed the compelling benefits of secured financing
he also said that in a paper not yet published the drug was shown to prevent a flare up of ulcers for a longer period of time than tagamet made by smithkline beckman corp skb other drugs in searles pipeline include tissue plasminogen activator tpa made by a different process than genentechs gene tpa expected to be approved for marketing this year
net includes pretax gains on sale of businesses of nil vs 4656000 dlrs in quarter and 260 mln dlrs vs 4656000 dlrs in year
in a filing with the securities and exchange commission redstone who controls dedham mass based national amusements inc a theater chain operator offered to raise the cash portion of its viacom offer to 42 dlrs a share from 4050 dlrs
the conditions relating to tendering will have to be associated with conditions for receiving soft loans he said
european community ec finance ministers and central bankers agreed on the need for greater cooperation to strengthen the european monetary system ems against international market turbulence officials said
qtly div 18 cts vs 18 cts in prior qtr payable may one record april 15
a source close to the kadoorie family said the family has not considered any countermoves so far
control resource crix sees lower earnings
the world bank is launching a 300 mln markka seven year straight issue due march 11 1994 with a coupon of 10 pct payable semi annually and an issue price of 101 1 8 lead manager postipankki said
local m2 rose 47 pct to 24903 billion dlrs in january from december when it climbed 42 pct
latest qtr includes a tax credit of 909000 dlrs or 46 cents a share
and sen
they said the companies which approached the commission recently and which they did not name appeared to envisage a loss of productive capacity similar to that proposed in 1983
at least one analyst friday speculated the company might fetch 38 to 42 dlrs per share
livestock feed needs have probably increased because of the fall and winter analysts said
japans ldp urges more imports of 12 farm items
i have mixed feelings said analyst dennis telzrow of eppler geurin and turner a dallas brokerage
proceeds will be used for general corporate purposes including the financing of new construction and refunding of cumulative preferred stock
balladur responding to weekend remarks by us treasury secretary james baker that the us would take another look at the accords said i firmly desire a faithfull and firm adherence by all the major industrial countries to the louvre accords in both their letter and spirit on sunday baker said last weeks rise in short term west german interest rates was not in keeping with the accords
gross fees of 2 1 4 pct comprise 3 4 pct for management and underwriting and 1 1 2 pct for selling
the white house has completed a new review of japanese semiconductor trading practices but has not yet decided whether trade sanctions levied against japan last april should be lifted us officials said
ma hanna co hnm to acqure pms consolidated 
indeed regulators are apparently also concerned about the exclusion of other countries from the new requirements
the large drop in foreign reserves was in the middle east and africa where they fell to about 93 mln barrels from 3167 mln reflecting the exclusion of libya
the committed part of the transaction will carry a facility fee of 75 basis points and drawings will be at a margin of 15 basis points
newhall investment nip sets special payout
dow dow amends resins price increase
new world pictures nwp sells taft tfb stake
rank xerox xrx to sell south african unit
fernandez said he saw no merit in arguments by some economists that the peso currently pegged at 2050 to the dollar ought to be devalued to make the countrys exports more competitive
highland superstores inc high 4th qtr net
leavitt sees 140 dlrs for the current quarter in part crediting significant benefits from the rca acquisition
portugal grain agency barred from import tenders
salomon said in a filing with the securities and exchange commission today that it has 21978 of the debentures
cityfed ctyf to sell consumer lending offices
there were no extraordinary gains in 1985
effective march 10 amalgamated merged into llc which changed its name to valhi
the bank is primarily a development institution not a debt management agency
it said the stations are wtaf philadelphia wdca washington wcix miami ktxa dallas and ktxh houston
scherer said one of its directors richard manoogian said he will buy 200000 shares of the preferred stock at the same 25 dlrs a share
1986 net both periods includes charge 768000 dlrs from reversal of investment tax credits
comex raising margins for gold and copper futures effective at todays opening official
the following proposed securities offerings were filed recently with the securities and exchange commission mississippi power co subsidiary of southern co so shelf offering of up to 200000 shares of 100 dlr preferred stock
prior year net includes gain 1549000 dlrs on sale of property
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
lowrance electronics inc said results from operations in the third and fourth quarter may not be comparable to the first and second quarters which were strong because of orders for new sonar equipment
emery said it would operate purolator as a subsidiary if it succeeded in the takever but would integrate its air hub
swedens boliden ab takes over us allis chalmers corp for 600 mln crowns official
johnson matthey raise pretax profits by 678 pct
zuckerman told the proceeds will be used to buy stock to bring equities to 50 pct or more of the portfolio
bomb threats strikes as fiji sees end trade ban
these cmos were given an initial coupon of 11 1 2 pct and priced at 10440
westcoast wtc to acquire agip properties
i think it is round about right he said
he said the groups stake of about 35 pct in hong kong land which will be lowered to 26 pct after the completion of a reorganisation is a long term investment and now stands at a level which causes us no financial strain or problems of asset imbalance keswick said the issue of new b shares will give the group the flexibility in the future to issue ordinary shares for expansion without jeopardising the shareholding stability which has been brought about through the groups recent restructuring he said the new issue is pending approval from both the firms shareholders and warrant holders adding an appropriate adjustment will be made to the warrant exercise price
rains fell heaviest early in the week and in particularly high volume in buenos aires province cordoba la pampa and santa fe provinces
keystone camera kyc to distribute watches
spadine said the mild winter in many parts of the north american continent has led to a build up of gas inventories and less would be necessary to replenish underground storage this spring freeing gas for spot sales
you just dont send it abroad
morrison knudsen corp mrn 3rd qtr loss
although the reed operation is relatively small in view of the total size of a combined baker hughes pace said 30 to 40 pct of the cost savings are tied up in that they hughes are obviously concerned about the lawsuit said james crandell analyst at salomon brothers inc
the minneapolis based company which it said is the nations largest franchisee of chi chis family style mexican restaurants said it had the planned to expand to 80 units but had to abandon the effort leaving 38 units in operation
this means foreign bankers cannot easily switch their credit lines from one borrower to another
switzerlands economy combining low unemployment financial stability and a large external payments surplus is in excellent condition and faces a satisfactory future the organisation for economic cooperation and development oecd said
conrac urged shareholders to take no action while its board studies the offer and confers with advisers
japan january industrial production revised up
he said farmers now must participate in farm programs in order to receive credit for planting and to protect farm income
debartolo and campeau later engaged in a bitter battle for control of allied with campeau winning out later in october when it bought a block of 258 mln shares of allied stock or 48 pct of the total in a controversial move made only minutes after it dropped its hostile tender offer
air canada the state owned airline said it signed a letter of intent to acquire 65 pct of ems corp a calgary based messenger service which operates in western canada and the us gelco corp gel earlier said air canada agreed to buy its canadian gelco express ltd unit for 54 mln us dlrs
the data showed that the stock grew at an annualized 86 pct over the six months to february slower than the 94 pct rise in the same period to january
but no one is sure what the impact will be
the notes have an 8 1 2 pct coupon and were priced at 9950 to yield 96 basis points over comparable treasury securities
group of 10 welcomes latest g 7 agreement
asahi is selling 500000 shares in glaverbel while the company itself is issuing 340000 new shares
the saudi figures include a 200000 bpd share of neutral zone production
gatt round may stop growing trade problems us 
nissan to boost local content in uk cars
romo leroux resigned last week for personal and family reasons the spokesman said
the company said it now owns 56 pct of viratek as a result of these transactions
eastern europe production could be 129 mln tonnes against 133 mln in 1986 87
but he did stress the us plan was important and the right approach
qtly dividend 73 cts vs 73 cts pay june 10 record may 15
iraq has secured agreement to defer outstanding payments on a 500 mln dlr syndicated euroloan following five months of negotiations with creditor banks
saudi output said at year low to help opec
international lpg prices mixed
ford motor credit co a unit of ford motor co is raising 250 mln dlrs via an offering of notes due 1990 yielding 695 pct said lead underwriter goldman sachs
but the foreign banker who asked not to be named said it faced internal competition from the industrial and commercial bank
but the effect of the deal on 1987 earnings can be evaluated in full only when the definitive pacts are completed it said
corrects the date of the plant closings
laenderbank expects modest profit rise in 87
it also will require the repayment over the life of the standstill of another 10 pct of the overdue debt spread over six month invervals and depending on the maturity of the various debts for a total of slightly more than 14 billion dlrs
biotech electronics inc ionto 3rd qtr net
16 at chicago illinois 5 at new york new york
shr loss 48 cts vs loss 35 cts net loss 1587000 vs loss 1063000 revs 453 mln vs 509 mln avg shrs 3322032 vs 3054457 year shr profit three cts vs loss 19 cts net profit 112000 vs loss 587000 revs 2112 mln vs 1993 mln avg shrs 3220163 vs 3038361 note net includes tax credits 1411000 dlrs vs 929000 dlrs in quarter and tax provision 689000 dlrs vs credit 1288000 dlrs in year
reynolds metals rlm sells convertible debt
computer horizons chrz in acquisition
he said it was too early to revise official forecasts for west germanys economic growth this year
it makes sense the analyst said for sun chemical to strike before the offering is underway
us feb consumer credit rose 177 billion dlrs
caribou energy inc said shareholders have approved a one for 100 reverse split that will take effect by tomorrow and the company has changed its name to texas petroleum corp
that is 140 basis points more than the yield of comparable treasury securities
this will be a difficult budget for the opposition labour party to attack shepherd said
the sanctions were approved by the cabinet soon after colonel sitivene rabuka staged his second coup on september 25
the spokesman reiterated statements made earlier in the week that the regularly scheduled meeting was being held
peps boys manny moe and jack pby set payout
gold futures which previously had a limit of 25 dlrs per ounce in most back months were about 700 dlrs weaker in the nearby contracts amid thin volume conditions traders said
dow will spending about 650 mln dlrs on research and development in 1987 with an emphasis on new specialty chemicals oreffice said
he said the production fall was due to typhoon damage to more than 6000 hectares of canefields last year
lasmo shares were down 2p at 251 after the announcement
saudi output excluding movements into stocks fell to 31 mln bpd in early march from 35 mln bpd in february against a 4133 mln bpd quota
the loss of factory jobs brought the march total to 1919 mln jobs and was concentrated in automobile electrical and electronic manufacturing
cheung kong holdings ltd ckghhk is expecting strong results this year after reporting better than expected profits in 1986 chairman li ka shing said
jm said dei provides specialty insulation installation and asbestos removal services
last year the average dealership had 112 mln dlrs in sales a 15 fold increase from 1956 and employed 34 workers
year to date load factor fell to 535 pct from 547 pct the carrier said
mobile communications corp mccaa yr net
the spokesman declined to detail these special measures but said they would not be the sort of dynamic moves which ec farm commissioner frans andriessen has said he would take in the case of complete deadlock among farm ministers
whatever the calculation the issues have received a warm welcome from investors
the sec said it had planned to file a court brief joining with allied in charging that campeau had engaged in an illegal tender offer
groupe cantrex inc said it plans to merge a new wholly owned subsidiary a merger agreement with cap appliance purchasers inc of woodstock ontario a group of about 400 appliance and electronics retailers
the reagan administration wants to make the bank part of its controversial strategy to resolve the debt crisis
italys net official reserves fell to 67110 billion lire in may from a previously reported 68455 billion in april the bank of italy said
british prime minister margaret thatcher has personally taken up the companys cause charging that japan is discriminating against foreigners
feds johnson sees easing of inflationary fears
mulroney told the house of commons assets of the huge oil company would be examined before a decision was made just as other state run companies were studied before being sold under ottawas privatization program
the rebates granted at yesterdays ec sugar tender represent a further concession to producers complaints that they are losing money on exports outside the bloc trade sources said
butterwick told reporters that despite the drop and low freight rates the shipping conference he heads will increase the frequency of sailings to south africa as a very strong act of faith and confidence in the countrys future
shv also offered 252 pence for every one stg nominal of ic gas loan stock under the bid made by shv united kingdom holding co ltd
its board has approved the deal it said
canadian money supply m 1 falls 116 billion dlrs in week bank of canada said
while several foreign groups have said they want to gain a foothold in the french market their potential stake in cgct is limited to 20 pct under privatisation laws passed last year with 80 pct to be left in french hands
finnish unemployment was 67 pct in december last year compared with 68 pct in november and 61 pct in december 1985 the central statistical office said
under the new arrangement neither party has to hold a futures position before entering into an efp and one or both parties can offset their cash transaction with a futures contract the next day according to exchange officials
us consumer instalment credit rose a seasonally adjusted 177 billion dlrs in february after a revised rise of 789 mln dlrs in january the federal reserve board said
central to royal trusts strategy is asia boasting rapid economic growth and huge pools of japanese capital said cornelissen whose company administers assets of 7185 billion dlrs more than any other canadian trust
technical and seasonal considerations aside there is nothing for the credit market to get excited about added robert di clemente of salomon brothers inc
but debt must be managed effectively or it hampers development he told newsweek
company also set dividend of 11 marks for new preference shares which were issued last year
uk money market deficit revised to 550 mln stg
bps partner is galactic resources ltd of toronto
this week has seen whites buying by india and egypt
it said computer trade had revenues of about 61 mln dlrs last year
the talks foundered on sunday afternoon when it became apparent consumers and producers could not compromise on the formula for calculating any future quota system delegates said
he suggested that some independents may instead turn to exploration in shallow federal offshore leases
the previous record was 1751 billion dlrs last august
residential mortgage rmi sells cmos
dauster said stocks and exports to ico members and non members all need to be considered when setting quotas and that brazil would like to apply the coffee pact with a set ratio of overall quota reflecting stock holdings
which conducted the survey said the study grew out of concern that mergers and acquisitions had seriously hurt the economic climate of northern california
us commerce secretary malcolm baldrige predicted congress will pass a reasonable trade bill this year and said tough protectionist legislation could prompt a trade war
president reagan has pledged to keep the gulf sealanes open and to protect kuwaiti tankers from possible iranian attack
terms of the transaction were not disclosed
that pact in turn followed the international monetary fund imf s approval on march 5 of a 85 mln special drawing rights standby arrangement and a 409 mln sdr drawing under the compensatory financing facility
the intervention backed by remarks by fed chairman paul volcker and japanese central bank governor satoshi sumita which a few months ago would have brought the dollar fall to a halt has done little but slow the rate of its decline they noted
shut in crude is the surplus between the total amount of oil being produced and the amount being purchased by refiners
a merger at the tender price that has been approved by the argosystems board is to follow the offer
it is extremely important that the us market reduce its restrictions on chinese imports provide the needed facilities for them and businessmen from both sides help to expand chinese exports the editorial said
year ago net includes pretax charges related to judgment against company in litigation with hughes tool co of 1891 mln for qtr and 2169 mln dlrs for 12 mths
shr profit five cts vs profit seven cts net profit 59000 vs profit 39000 nine mths shr profit 12 cts vs loss four cts net profit 92000 vs loss 20000 avg shrs 775000 vs 548000
japan while diversifying its supply sources of propane and butane for stable supplies will continue to bank on saudi arabian lpg the sources said
precambrian shield resources ltd year loss
guinness plc guinl the brewing group has challenged a 52 mln stg payment to a us lawyer who says he organised its controversial takeover of scotch whisky maker the distillers co plc but attorneys for lawyer thomas ward a member of the guinness board told a court yesterday in the channel island of jersey that ward saw the payment as his reward for services in last years 27 billion stg takeover
wall street sources have identified the buyer as dart which earlier this year was thwarted in a takeover attempt for the now privately held supermarkets general corp
last year the netherlands produced a record 12 mln tonnes of white sugar against a combined a and b quota of only 872000 tonnes
shearson has 54 pct of chicago milwaukee chg 
shr 28 cts vs 29 cts net 10978000 vs 11916000 revs 1535 mln vs 1634 mln note full name is central illinois public service co per share results reflect payment of preferred dividends
all sales covered by the credit guarantees must be registered and shipped by september 30 1987 usda said
tidewater tdw completes debt restructure
icahn i think had wanted to sell his airline and there were no takers
new safrica accord with banks brought compromise
partnership ups hbo hboco stake to 87 pct
jaguar sees strong growth in new model sales
american motors corp gets qualified audit on 1986 financial statements
national mutual royal bank ltd said it would cut its prime rate to 1775 pct from 1825 effective april 27
shr 42 cts vs 34 cts net 2945000 vs 2400000 sales 1468 mln vs 1172 mln nine mths shr 245 dlrs vs 235 dlrs net 17280000 vs 16366000 sales 4656 mln vs 3878 mln avg shrs 7046000 vs 6961000 note 1986 data restated for changes in method of accounting for pensions
william reynolds stated at the meeting that he found the concept of greenmail to be repugnant greenmail refers to a corporation buying out a shareholder at a premium not available to others
nz official foreign reserves fall in january
robert brusca of nikko securities co international inc argued that an easier fed policy is unlikely to do much to solve americas most urgent economic problem its massive trade deficit
subroto sees oil market continuing bullish
haughey said an offer of commission help on debt management was made to him today by commission president jacques delors
last year the japanese began a slow opening by granting west german banks investment licences
earnings restated for two for one stock split effective nov 30 1986
acton auto rental initial offering starts
others said stocks could be down one to five mln barrels
vanderbilt gold corp said shareholders at a special meeting approved its reincorporation in delaware an increase in authorized common to 25 mln shares from 12 mln shares and a non qualified stock option plan
inter tel inc intlao 2nd qtr may 31 oper net
the shareholders meeting take place on may 22 in hamburg
note oper includes writedown of offshore drilling equipment of 5070000 dlrs for qtr and 279 mln dlrs for 12 mths
we dont want to take retaliatory action here if we dont have to yeutter said
the lme board in response to representation from the trade agreed to annul from lme contracts the minimum weight requirements of 450 kilos for t bars and 250 kilos for sows effective for high grade on june 1 and for standard on july 24
uk and germany lead attack on ec farm reforms
non accruing loans at the end of march were 239 billion dlrs 135 billion excluding brazil compared with 135 billion at the end of 1986 and 122 billion at the end of march 1986
even if we reach the 1987 target of 405 mln tonnes it cannot be considered adequate tian said
duff and phelps said it lowered its rating on delmarva power and light co first mortgage bonds to dp 3 middle aa from dp 2 high aa and on preferred stock to dp 4 low aa from dp 3 affecting approximately 646 mln dlrs in debt securities
yr ends nov 29 1986 shr loss 61 cts vs loss 119 dlrs net loss 1017000 vs loss 1987000 revs 104 mln vs 103 mln note prior yr ended nov
consumer buyers were attracted by the cheaper offers traders said and by early afternoon the market had recovered to one stg down to unchanged
parsow partnership ltd an elkhorn neb investment partnership said it bought a 51 pct stake in orange co inc common stock as an investment
five by three cents a lb effective immediately
to that end we are prepared to negotiate all terms of an acquisition agreement dart said
despite the anticipated reduction to quarterly earnings security pacific said it still expects to report first quarter earnings higher than the 88 mln dlrs or 111 dlrs per share reported for the first quarter of 1986
but economists warned that may not be soon enough for japans trading partners
the outflow will be partly offset by 340 mln stg exchequer transactions
qtly div 12 1 2 cts vs 12 1 2 cts prior pay april 30 record april 15
there is no need for action hermann remsperger chief economist of berliner handels and frankfurter bank bhf said
therefore while the danger of an oil import fee has been a consideration in the negotiations and it remains to be seen what such a fee would represent we do not foresee any impact on todays agreement adams said
national pizza co piza to acquire restaurants
aides said timing will depend on budget discussions
ncrs us dollar value of 1987 first quarter worldwide incoming orders posted a very substantial gain over the prior year first quarter ncr also said without giving specific figures
shr 42 cts vs 35 cts net 854000 vs 839000 revs 232 mln vs 219 mln
it will buy back at par 33 mln dlrs of its outstanding 10 pct bonds of 2016 and 14 mln dlrs of its outstanding 12 7 8 pct bonds due 2013
requests for barley were for export to switzerland austria and lichtenstein ceuta and melilla at an unchanged pre fixed restitution of 125 ecus a tonne while requests for soft wheat flour were for export to various non ec countries at an unchanged 178 ecus a tonne
miller acknowleged the estimated sale proceeds at 33 billion dlrs would actually bring down the deficit by about 22 billion dlrs because of the loss of revenues from the sale of oil from the reserves
a senior government economist suggested that both the us and japan needed to ease monetary policy now to prevent a further drop in new york and tokyo stock prices
the european investment bank eib issued a 40 mln euroyen issue paying 4 5 8 pct over seven years
s and p said the action reflected prospects for continued healthy markets over the next few years
european commission president jacques delors quoted by le monde newspaper said he favoured a franco german candidate to take over cie generale de constructions telephoniques which has a 16 pct stake in the french public telephone switching market
hawker siddeley canada inc year net
home federal of the rockies hrok 4th qtr loss
usda raises soviet grain import estimate
talking point wendys international wen 
arnott said the waiver had continually been used as a justification for dubious protective measures by the us he listed a recent dairy export incentive program and steps to close the us sugar market to imports
canada 750 mln dlr t bill issue yield average 860 pct official
china has a large population and its land resources are badly deficient an official of the shanghai city government said county authorities could approve conversion of only 03 hectares of arable land to other uses while anything more than that must be approved by the city government
tandy brands said the notes are convertible at 10 dlrs a share noting a previous announcement the price was negotiated when the companys common was trading at 775 dlrs a share
acquisitions were the high performance connecting materials operations of celanese corp inmont corp bought from united technologies and american enka bought from akzo nv akzoas basf said it expected a us investment of 240 mln dlrs in 1987 part of a five year programme totalling one billion
the treasury received 267 billion dlrs of bids including 554 mln dlrs in non competitive bids from the public
japanese banks cool on nigerian debt talks
calmat czm sues industrial equity
sumitomo trust and banking co ltd has agreed to provide the letter of credit
the key question will be not whether there is a large increase in first quarter gnp but whether any increase is sustainable or a one shot deal kahan said
in a letter to house banking committee chairman fernand st
central capital corp said it planned a three for two split of its common and class a subordinate voting shares subject to shareholder approval at the april 23 annual meeting
wed need some assurances from them the soviets that they would buy if offered the wheat under the subsidy plan he said
prior year results restated for change in method of recognizing revenue on distributor shipments
us senate cuts off stall tactics on gulf bill
they said the fed does not have a much of an adding need this week and may wait until tomorrow or monday before supplying reserves
alusuisse made a net loss of 688 mln francs after a restated 756 mln loss in 1985 and set a 50 pct capital cut
spectra physics inc said it is considering the possibility of recapitalizing restructuring or seeking a buyer for the company following its rejection of an unsolicitied 32 dlr a share bid from ciba geigy corp
dome dmp repeats dome mines dm stake for sale
morgan guaranty joins dealers for bsaf program
the us trade deficit with taiwan and korea is expected to widen this year despite some economic and currency adjustments by the two newly industrialized countries economists said
some 100000 of this shipment has already been purchased the sources added
these further payments will only be made if profits achieved by gelco for the year ending july 31 1987 reach a certain level
the us agriculture department is not actively considering offering subsidized wheat to the soviet union under the export enhancement program eep senior usda officials said
entertainment marketing inc em said it has made an offer to the board of crazy eddie inc to acquire all outstanding shares of crazy eddie inc for eight dlrs a share in cash
the put price after five years is 1268 to yield 8 3 4 pct
a 625 pct 10 year loan for the world bank originally 300 mln guilders has been raised by 150 mln guilders at an issue price of 9950 pct lead manager algemene bank nederland nv said
sandra kaul a coffee analyst in new york with shearson lehman brothers said supplies currently are at their high point for the year because most producing nations have just completed their harvests
endotronics endo halted pending news release
although bought by french citizens they are managed by foreign banks morgan guaranty trust co of new york and banque de neuflize schlumberger mallet sa controlled by algemene bank nederland nv abnnas an sat spokesman said
weizsaecker on a four day official visit to argentina said argentinas problems require joint action from creditor and debtors countries and not prepared recipes from creditor banks
on a year over year basis the index was down 08 pct little change from the 09 pct decline posted in january
she forecast 190 dlrs for national bank of canada against 330 dlrs before a two for one stock split
internationalisation of the yen through expansion of overseas portfolios in yen assets is the key to the success of global trading of yen bond futures said katsuyuki okayasu general manager of yamaichi securities co ltds bond division
the banking sources said the committee has been prepared to lower amortizations to around 400 mln dlrs this year but that no direct commitment was likely on new loans
shr loss 48 cts vs loss 10 cts net loss 1234000 vs loss 259000 revs 715000 vs 1941000 year shr loss 126 dlrs vs loss 34 cts net loss 3229000 vs loss 870000 revs 3001000 vs 9767000 note 1986 net both periods includes 672300 dlr writedown of value of seismic laboratory and 165000 dlr increase in reserve for doubtful accounts
nutmeg industries inc nutm year jan 31 net
polycast technology corp told the securities and exchange commission it sold off 119800 of its spartech corp common shares reducing its stake in spartech to 30000 shares or 12 pct of the total outstanding
the oklahoma weekly usda crop report said cold weather slowed crop development and caused some cattle deaths
justice dept
all of these things would fit within the definition of our initiative as we have asked it and we think any novel and unique approach such as those should be considered said the official who asked not to be named
analysts said it might be difficult for hutton to raise the offer since emery an overnight courier might have an easier time justifying a lofty price since it would realize cost savings by combining its business with those of purolator
some 110000 head have been transferred to the sugar cane conditioning centers where newly harvested cane is cleaned before being sent to the mills
he said no asset sales are planned this year as long as oil prices dont fall sharply lower and stay at lower levels for several months
the maximum daily price limit will be two cts a gallon on all contracts except spot
dow said it altered the increase to reflect changes in the industry over the past month
the selling concession is 1 1 2 pct while management and underwriting each pay 1 2 pct
cdc said the unit offering will consist of a maximum of 18750 units priced at 1600 dlrs each
he also called on bonn to push ahead with the privatisation of german national industries
the bank of england said it had revised its estimate of the shortage in the money market back to its initial forecast of 550 mln stg
outboard marine last june adopted a shareholder rights plan that will be triggered when a person or group acquires beneficial ownership of 20 pct or more of its common or begins a tender offer that would result in 30 pct ownership
money market sources said the surprise announcement might herald a quarter percentage point cut in the central bank intervention rate from the 7 3 4 pct level set march 10 but they added such a cut was relatively unlikely
the proposed legislation would abolish distinctions between recognised banks and licensed deposit takers and tighten legal controls making it a criminal offence to mislead supervisors
the company said in 1983 it recorded a profit of 8600000 dlrs for its first quarter
in a statement issued by the trade representatives office following a speech to the american soybean associations board of directors yeutter said the proposed tax would have a severe impact on american soybean farmers who export some 24 billion dlrs in soybeans and products annually to the ec
brazil adjust cruzado down against dollar new rate 22840 22945 previous 22690 22803 effective wednesday april 8
last year south africa repaid about 500 mln dlrs out of the 14 billion dlrs covered by the standstill
he predicted us oil demand would rise by about one pct annually in the next few years while the nation fails to replace its oil reserves through exploration
the payment date is april 30
however the bank said it reserves the right to limit any money market maker from buying more than 25 pct of a single auction
azzam said gulf money markets had received greater depth from the introduction of treasury bill offerings in bahrain and the expansion of securities repurchase regulations in saudi arabia
icco members accept buffer stock principles
ec farm liberalisation seen hurting thai tapioca
wall street professionals said they were not convinced of the story or that edelman and dominion would be the victors if burlington actually came into play
longer term yields fell with 10 year bonds at 1366 68 pct from 1374 before the release and highs of 1387 yesterday
china and bolivia important producers of tin are not members
samudio said new plans had been designed and hoped they would be effective
qtly div 27 cts vs 27 cts prior pay april 15 record march 25
he said a trade deal must bring benefits to both sides
the company declined to issue a statement the nyse said
the company said the move will reduce asian overhead and a substantial part of the proceeds will be used to reduce debt
the islands trade surplus reached a record 156 billion us dlrs last year up from 1062 billion in 1985
kidston gold mines ltd 1986 year
he said the current decline on world coffee markets was not totally unexpected and would have no immediate bearing on colombias financial state which he described as sound
he said greece was able to cut borrowing because a two year austerity program it adopted in october 1985 cut its current account deficit to 175 billion dlrs last year from a record 33 billion in 1985
the company said it expects to report strong earnings per share growth and a record return on equity in fiscal 1987 it said this should be achieved despite expected non operating charges in the final quarter
american cyanamid co said it bought the 50 pct interest of cyanamid fothergill ltd held by fothergill and harvey plc making the unit a wholly owned subsidiary
shr 46 cts vs 48 cts net 1196331 vs 1341314 revs 5153109 vs 7680350
a broad cross section of members of parliament voiced their opposition to the tax during a debate in the lower house yesterday on the basis of possible retaliation from the us and on the potentially damaging effect on third world countries
they sold a net 153 mln dlrs of stocks down from 681 mln in the previous month
bank of france buys dollars at paris fixing dealers
aquino says growth has priority over debt payments
furthermore in assessing the trade impact of programs credit could be given to countries which effectively control the output of farm products the papers said
but anything that went as far as a direct attack on kuwaiti territory would be a very serious escalation likely moving world opinion against iran remarked one
now a chevrolet dealer might handle several lines jauppi says
last weeks issue was sold out on its first day of dealings but with nothing resembling the determined demand seen this morning for the new tranche of bonds dealers said
sun sun raises heating oil barge price
miyazawa says exchange rates will stay stable
imports have suffered slumping from around 800 mln dlrs to 200 mln as credits ran out
denominations are 20000 crowns the bond is registered in luxembourg and total fees are 1 7 8 pct
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
opec produced an average 161 mln barrels per day bpd of crude oil in february down from 165 mln the previous month and an overall 173 mln bpd in fourth quarter 1986 the international energy agency said
the department said major buyers included china japan the philippines south korea singapore and taiwan
the australian stock exchange ltd asx today took up the responsibility for administering a new coordinated market made up of australias six former exchanges now operating as subsidiary trading floors
qtly div 19 cts vs 19 cts prior pay april 15 record april one
under the atpc plan malaysia has been allocated an export quota of 28526 tonnes indonesia 24516 thailand 19000 bolivia 13761 zaire 1736 and nigeria 1461
once the agreement is approved the utility would still have to prove cost of service increases to support at least the maximum increase each year a spokesman explained
the letter of credit has a five year term with an evergreen feature allowing for extension at the support banks option
in addition the company said rising product prices and demand for pulp and paper are reflected in all the major world markets except in the case of some light weighted paper grades where overcapacity remains a problem
hanson trust shows sharply higher half year profit
circus circus enterprises cir 4th qtr net
shr 10 cts vs four cts net 419000 dlrs vs 196000 dlrs revs 273 mln dlrs vs 259 mln dlrs notethe first quarter ended may 29
shr 90 cts vs 30 cts net 229 mln vs 7567000 sales 3230 mln vs 2721 mln note per share figures reflect april 25 1986 five to three stock split
domestic demand contributed 05 percentage point to real gnp growth in october december while foreign trade added 02 the figures do not tally exactly due to rounding
the day after campeau increased its tender offer to 80 pct of allieds stock from 55 pct and raised its bid to 66 dlrs a share from 58 dlrs on sept 29 allied and a partnership headed by debartolo began negotiating a takeover deal aimed at thwarting campeau the sec said
on may 29 the bidder offered to acquire the carling preferred for 36 dlrs for each series a and 4050 dlrs for each series b share
at the recent talks among the six major industrialised nations in paris japan promised to work out a comprehensive economic package to boost domestic demand which in turn would help increase its imports and reduce its trade surplus
central banks may succeed in slowing a trend but without accompanying policy changes they stand little chance of reversing the direction of an ever growing global market in which more than 200 billion dlrs is traded every day the sources said
cotton 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 area mln acres planted 1006 1006 1068 1068 harvested 849 849 1023 1023 yield lbs 549 553 630 630 supply mln 480 lb bales start stks x 935 935 410 410 production 970 979 1343 1343 ttl supply y 1906 1914 1757 1757 x based on census bureau data
century business credit cty gets offer
the company said marine midland has agreed to advance it an additional working capital loan that will be personally guaranteed by chairman henry ginsburg
he said the board accepted offers for 25000 tonnes of wheat from grain firm j
us feedgrain sales will also drop if japan opens up its beef imports since japan depends almost entirely on feedgrain imports mainly from the us japanese officials said
shr 40 cts vs 36 cts net 2309000 vs 2076000 revs 282 mln vs 304 mln
the mexicans basically said were not going to subsidize foreigners until we have a deal one banker said
but he also said that this structure may not be the right option for all borrowers
we have been somewhat disappointed in the results so far but we intend to continue these discussions he said
ec may offer intervention sugar to local market
the increase brings the prices for two pct sulphur to 1925 dlrs up 50 cts 22 pct sulphur to 1875 dlrs up 50 cts 25 pct sulphur to 1850 dlrs up 50 cts 28 pct sulphur to 1825 dlrs up 75 cts the company said
commercial union gets medium term note program
public service nc psnc raises payout
the sources said the bonds mature in eight months with 55 pct interest but no further details were available
an additional pretax gain of 19 mln dlrs will be deferred until realization is more fully assured it said
cyclops cyl says dixons appointees resign
shr loss 18 cts vs loss 361 dlrs net loss 5600000 vs loss 1002 mln revs 335 mln vs 223 mln avg units 309 mln vs 275 mln nine mths shr loss 22 cts vs loss 420 dlrs net loss 6800000 vs loss 1136 mln revs 973 mln vs 834 mln avg units 300 mln vs 268 mln note full name is sante fe energy partners lp
the sources said they expect no break in the harvesting of beans between the end of the temporao and the beginning of the main crop which officially starts on october 1
adobe resources corp and high plains oil corp said they reached an agreement in principle under which high plains will be merged into a unit of adobe
but he declined to say what measures would be discussed ahead of a communique of the group of seven ministers later today
if we become convinced that we need to make a change then appropriate adjustments will be made sindt acknowledged that concern has been voiced that usdas price differentials between the new orleans gulf and interior markets are not accurate because of higher than normal barge freight rates
this board will be presented as the slate for cts 1987 annual shareholders meeting it added
the producer price index for finished energy goods fell by 209 pct in the past 12 months
allied signal ald completes sale of mpb corp
continental airlines inc a unit of texas air corp is offering 350 mln dlrs of equipment backed debt securities in three tranches and another 150 mln dlrs of senior notes due 1997 said lead manager drexel burnham
the new prices in the book are effective after oct one 1987 the company said
ericsson said the contract covers 2000 terminals which will be used by west german post offices
servotronics svt sets 10 pct stock dividend
brazils trade surplus its main source of foreign exchange has dwindled in recent months making it difficult to service its debt
garrones refinery at san quirico capacity 130000 bpd is due to shutdown on march 14th for three weeks and the jointly owned isab garrone refinery at mellili capacity 220000 bpd is due to start up around march 20 25th following its closure for maintenance a month ago a company spokesman said
qtly div 20 cts vs 20 cts previously pay april 15 record march 23
gartner group gart acquires comtec program
the turnover figure was unchanged at 1562 billion guilders
shr 13 cts vs 12 cts net 1612000 vs 1571000 revs 288 mln vs 250 mln avg shrs 128 mln vs 133 mln
proven reserves as of december 31 1985 were 978000 tons grading an average of 0194 ounces of gold a ton equivalent to about two years future production
gandalf did not specify the size of the interest
the purchases of us wheat completes the export enhancement program initiative announced on december 31 1986
september bond futures climbed from the low of 87 a month ago to over 93 in mid june duggan said
republican members of the house agriculture committee said they will propose amendments tomorrow to a pending trade bill increasing funding for the export enhancement program eep and significantly expanding the scope of the program
connery said the four pct drop in january us factory orders reinforced sentiment that first quarter economic growth will be slow
ninety two nations are taking part in the four year uruguay round of talks launched in punta del este last september
but the ministers added that the go ahead for west germany did not mean there would automatically follow a community wide ban on the sale of regular leaded petrol
the chemicals are chiefly chlorofluorocarbons cfcs which are used in refrigeration and making foam plastics solvents and aerosols
great atlantic gap withdraws dechamps bid
dayton hudson corp in a letter to employees said it told an aggressive buyer of the companys stock that it does not want to be acquired
those shareholders who elect to convert their shares into class b stock will be entitled to 10 votes per share while other shareholders will retain one vote per share lennar said
colombias marketing policy is to sell without haste but consistently
the merged company will issue to each golden rule shareholder 1 1 2 shares and one warrant
traders said further reductions by malaysia would add to the tight spot availabilities of asian grades caused by reduced indonesian and chinese crude output
it is generally estimated that every employed haitian supports at least six people
south korea is the second largest importer of us cotton after japan
baker also urged the international monetary funds executive board to review possible modifications to the funds compensatory financing facility before the annual meeting this fall
chrysler will pay for renaults amc interests held in bonds by a 200 mln dlr bond and will pay up to 350 mln dlrs for renault share interests depending on amc sales and future profits the renault statement said
first bank fbs agrees to sell another bank
naarden said earnings were hit by the fall in the value of both the dollar and sterling noting the figure was in line with prior expectations
the company said energy assets agreed to share the costs of increasing production at the oak hill field
scholastic inc schl 3rd qtr feb 28 net
payment is due march 31
gencorp was originally placed on creditwatch for a possible downgrade after a partnership affiliated with afg industries inc afg and wagner and brown made a tender offer of 110 dlrs per share or 22 billion dlrs
revlon in a filing with the sec compared the results to the five months ending dec
jim ahtes a spokesman for ge credits outside public relations firm manning selvage and lee inc emphasized that the terms of the acquisition had not yet been approved
the company markets activitrax the first single chamber pacemaker that varies heartrate in response to physical activity
the company cited intensely competitive market conditions in its polyethelyne trash liner business and startup costs related to its acquisition of artisan plastic for the reduced earnings outlook
paralax video vido to buy american video
the reduced contribution reflects the spin off from hong kong land of dairy farm international ltd last september
but the parent bank would have to give a formal undertaking to take over the exposure if problems were to occur and state in writing that the exposure was retained in the subsidiarys balance sheet to meet precise group objectives the paper said
franco nevada mining corp ltd said the gain in its stock price today is related to deep drilling being conducted by american barrick resources corp at the goldstrike claims in the carlin camp in northern nevada
experts say the government must also make it easier for banks gradually to write down their third world loan books
goodyear gt to sell celeron
the refinery had been closed due to a change of ownership the company said
medtronic inc said it sees 15 pct growth in sales and earnings for the year ending april 30 1988
franklin pennsylvania us sets initial payout
lanesborough sells senior subordinated notes
maize harvesting continued moving forward in central santa fe though slowly
many delegations feel the commissions report is rather too pessimistic said belgian finance minister mark eyskens who chaired the meeting
the company said the bid was rjected in favor of a higher offer
terms were not disclosed
pdvsa vice president pablo reimpell said last week the first shipment of coal from the carbozulia project should be made during the final quarter of 1987 and would measure between 100 150000 metric tons
it had 1986 sales of 21 mln dlrs
but analysts say the pound has been sidelined by the first tentative test of the paris accord seen yesterday
chavin raises stake in myers myr 
frawley said the slackening in demand in the gulf had been offset by other arab countries around the mediterranean
banks have pledged 97 pct of the 195 billion dlr loan but the imf has not yet defined what amount constitutes the critical mass which is needed for release of the imf funds and the funds from creditor banks
the bank of england said it operated in the money market this afternoon buying 226 mln stg in bills
henry schroder wagg ltd which has already formed a group of 19 co managers
it also urges net repayments of foreign currency debt and an overhaul of domestic capital markets to facilitate the subscriptions by non residents of government bond issues in belgian francs
the one month yield was set at last weeks 6 3 4 pct while two and three month cds also remained unchanged at 6 13 16 pct
the sources would not reveal the amount of the fee which will be noted in documents on the transaction to be made public later this week
grolier glr debt upgraded by moodys
clothing shoe and vegetable prices rose in february while prices of coffee heating oil and most car fuels fell the ministry added
chinas largest sulphur iron mine has started trial production at yunfu in the southern province of guangdong the china daily said
yesterday prices on the new york world sugar market plummeted by 058 to 050 cent on heavy liquidation by speculators disenchanted over the markets lack of rallying power
general partners told the securities and exchange commission it has reduced its stake in gencorp inc to 86 pct from 98 pct by selling 250000 shares at a price equal to 1185 dlrs per share
ico talks last month in london failed to break a deadlock over re introduction of export quotas suspended in february 1986
the uk exported 612000 tonnes of wheat and 498800 tonnes of barley in february the home grown cereals authority hgca said
citruspulp usage dropped 628 pct to 149000 tonnes from 400000 tonnes while rapeseed and meal usage rose 96 pct to 217000 tonnes from 198000 and sunmeal rose 256 pct to 216000 tonnes from 172000 tonnes
following redemption 274 mln dlrs of the debentures will be outstanding
they noted that the latest plan marked a compromise between the two sides demands but fell short of ongpins assertion that the philippines would insist on a deal better than the 13 16 percentage points offered to mexico last year by its creditor banks
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
european operators offered 854000 tonnes of sugar into intervention to protest about export rebates which they say are too low
heymann expects ge to earn 139 dlrs per share in the first quarter of 1987
the filing is holding up wet barrel trading today said one trader
treasury secretary james baker said the agreement among industrial nations in paris last month is only a start in washingtons drive to intensify economic cooperation among leading countries
an investor group said it might be willing to raise its 100 dlr per share offer for gencorp but so far the company has turned down requests for a meeting
retirement will operate autonomously as a separate subsidiary
shr 40 cts vs 54 cts net 4442000 vs 6375000 sales 1028 mln vs 1025 mln avg shrs 111 mln vs 116 mln note share adjusted for august 1987 five for four split
volcker leaves void on ldc debt bankers say
if they see they are losing money they move back into gold a dollar decline also has inflationary implications ing said adding that maison placements sees inflation rising to a four pct annual rate from the current level of about three pct
in addition it said koba electronics co ltd an affiliate of lifetime will buy four mln unissued shares or a 12 pct stake of nippon for 20 mln dlrs or five dlrs a share
continued real wage moderation was essential to maintain the competitive edge created by the australian dollars depreciation and to maintain if not boost profit shares in order to encourage business investment
it said more than half of the quarters downgrades were in the industrial sector affecting 25 billion dlrs of debt
the treasury announcecement did not name the other countries nor the amount of financing the united states was willing to supply
the company makes artificial hearts
louisiana pacific refused to indicate whether it would repoen the lumber mill which was closed after the sawmill owned by the seventh day adventist church filed a bankruptcy petition in portland federal court in december
api says distillate stocks off 44 mln bbls gasoline off 30000 crude up 700000
venezuela reveals debt payment schedule details
in the meantime even the prospect of new supply is not likely to move futures
houssels said showboat since the opening of the atlantic city hotel casino showboat has had to start charging interest expenses connected with debt it sold to finance the facility directly against income rather than capitalizing the interest as it had been able to do previously
shr 33 cts vs 31 cts net 9219017 vs 8515539 revs 1120 mln vs 954 mln
a cargo of duri loading in july was reportedly traded yesterday at 70 cents over its osp of 1560 dlrs per barrel and minas is trading about 20 cents higher they said
midway airlines mdwy sets holder rights plan
representatives of major uk based banks are meeting here today to consider a new plan for reducing the cost of financing british exports guaranteed by the export credits guarantee department ecgd senior banking sources said
as it introduces the third unleaded grade exxon noted it no longer offers a leaded gasoline in the market except in some rural areas where leaded gaosline will be made available to distributors who have a substantial need for the product to serve customers whose equipment was designed for leaded fuel
the british bulk carrier envoy which ran aground in the orinoco river on october 16 was refloated without lightening on october 19 lloyds shipping intelligence service said
oklahoma weekly crop report
assays ranged from 035 ounces of gold per ton over a 150 foot interval at a depth of 350 to 500 feet to 11 ounces of gold per ton over a 65 foot interval at a depth of 200 to 410 feet
ah robins co said its board has concluded that the merger proposal submitted by rorer group inc ror merits further consideration
the adelaide steamship co ltd adsas first half
manila originally offered to pay interest in cash at 5 8 over libor or in a mixture of cash and pins tradeable dollar denominated zero coupon notes that could potentially yield up to one point over libor
and economic fundamentals will always come to the fore said a dealer at one major us bank
1986 figures exclude miles bayvet animal health business sold jan
azpurua said venalum is negotiating credits of 149 mln dlrs from the swiss bank corporation 14 mln dlrs from mitsubishi of japan and 40 mln dlrs from eksportfinans of norway
midland bank said it cutting its base rate to 105 pct from 11 pct
we very much regret the communitys plan he added
the multi family area which typically represents rental units remained weak due to high vacancy rates and increased capital costs of such units following tax law changes effective january 1
both jeffrey and fellner said the budget clears the way for a half point fall in uk base rates tomorrow but the authorities are unlikely to sanction a larger cut immediately
uk money market given further 663 mln stg help
petsos said the soviet union which had initially agreed to buy 380000 tonnes would now purchase the plants entire output of 600000 tonnes a year
shr loss 30 cts vs loss 31 cts net loss 10 mln vs loss 10 mln revs 23 mln vs 17 mln year shr profit 0 10 cts vs loss 45 cts net profit 508000 vs loss 15 mln revs 58 mln vs 67 mln note1986 year and qtr net includes loss of 37000 dlrs and 538000 dlrs respectively from from discontinued operations
kuwait minister says no emergency opec talks set
the number of permits for multi family houses fell in february by 117 pct to 529000 units after falling in january by 193 pct the department said
johnson products jpc sells two subsidiaries
it has about 37 mln shares outstanding
spain appeals for ec help on maize imports
the breakdown of the ico negotiations reflected a split between producers and consumers on how to set the yardstick for future quotas
prices generally lower at nairobi coffee auction
harper and row hpr to mull options after bids
the broad based money supply is measured as liquid assets in public hands plus quasi monetary assets
louvem said it could exercise the option for itself or for a third party
michigans principal business lumber and housebuilding products sales operates in a cyclical and highly competitve environment so that even debt restructuring would probably not improve earnings moodys pointed out
the link will be inaugurated on may 8
the philippines seeks to restructure 94 billion dlr of its 272 billion dlr foreign debt
business sources say that in practice importing even this amount is difficult and they have to haggle with cacex on a case by case basis
the two disputes are not related
payment date is may 5
today the focus shifted to the yen which has held to a very tight range against the dollar for several months
tensions have risen following britains decision to arm itself early with new statutory powers which it says could be used against certain japanese financial institutions
it said iranian charge daffaires mohammad baqeri was summoned by the ministry yesterday to confer with foreign undersecretary suleiman majed al shaheen
she also said that all of exxons opertations were under constant review
qtly div 20 cts vs 20 cts prior pay april 10 record march 20
behind the latest dollar fall lies the belief that last months accord was no longer enough to stop operators pushing the dollar down the dealers said
we are in a position to re confirm that despite misleading news in foreign media to the contrary opec member countries as a whole produced below their agreed quota in the month of february lukman who is nigerian oil minister said
it will also ask for authorisation to issue a maximum of ten billion francs nominal of bonds with share warrants with a one billion franc nominal ceiling on shares that could be obtained through the exercise of the warrants
objections to such loans have most often been raised by conservative republicans who have traditionally opposed us funding for these international development banks
the non automotive operations including ford motor credit are also expected to post improved earnings this year
this takes the banks total help so far today to 508 mln stg and compares with its revised estimate of a 900 mln stg shortage in the system which it earlier revised up from 850 mln
justice opposes quick greyhound trailways merger
output was 483000 in 1985
analysts also said the company has strong defenses that would easily deter any suitor one of those being its problems combining its two railroad properties which hang in regulatory limbo
the lower levels had been introduced last year as a temporary move to aid the tin industry after prices collapsed in late 1985
changes in usdas reserve rotation program are also under consideration vongarlem said
pakistan will hold an import tender tomorrow for 6000 tonnes of refined bleached deodorised palm oil for second half march shipments traders said
the report said all wheat farmers contacted during the field trip were optimistic about the crop and the way it emerged from winter
shr 461 dlrs vs 428 dlrs net 6633 mln vs 5908 mln rev 403 billion vs 406 billion avg shares 1439 mln vs 1382 mln
president reagan ordered the study last september citing a determination that the country never again become captive to a foreign oil cartel referring to the opec led oil shortages and sharp prices increases of the 1970s
six months to march 31 shr 1625p vs 1561p div 40p vs 35p turnover 612 billion vs 489 billion interest 252 mln vs 376 mln pretax profit 427 mln vs 403 mln tax 103 mln vs 99 mln minorities 13 mln vs 439000 extraordinary items 26 mln credit vs 12 mln debit note company name is s and w berisford plc brfdl
a japanese real estate company said it will launch a campaign to sell land in us farming areas to rich japanese
the sri lankan cabinet approved recommendations to upgrade the quality of coconut fibre products the government said
sonex research inc said its modified 1986 british ford escort passed the european emissions test but reported the engine consumed 35 pct more fuel than the stock engine
eighty pct of all the raw boneless rib chops evaluated in the study contained less than six pct fat the nppc said
as the dollar dropped to post world war ii lows against the yen today foreign exchange traders said the bank of japan federal reserve board and bank of england intervened in the markets on behalf of the us currency
electronic technologies manufactures quartz crystal components oak said
sdc sydney development corp earlier reporting an increased nine month operating loss said a cost control review now underway may result in cost reduction and elimination of unprofitable and non strategic products and services
but dattel was freed from prosecution after he produced medical evidence of paranoia caused by nazi persecution during his childhood which might have led him to take his own life
company redeemed its outstanding preference stock 235 dlrs convertible series on sept 14 1987
if the buffer stock operation is successful i doubt it will do anything more than stop the price from falling further and it will have no relevance at all to retail chocolate prices a european dealer said
vernes said operators hope to get a rebate which equates to the full intervention price and said wednesdays tender was a step in the right direction
as a result there were a series of baking seminars as well as the trial batch in an effort to satisfy local flour millers and convince key officials of the qualities of us wheat
raimond due here tomorrow from oman for his first official visit to the united arab emirates uae told the semi official daily al ittihad he was confident a solution would soon be reached
rain and floods in india last year damaged about 69000 tonnes of grain intended for human consumption during storage and transportation food and civil supplies minister h
meritor savings bank a us savings and loan is issuing 200 mln dlrs of collateralised eurobonds due april 14 1992 priced at 101 3 8 with a 7 1 2 pct coupon lead manager goldman sachs international corp said
the saudis are being very cooperative
eleven contracts were terminated after no oil was discovered
investors then can maintain their holdings sell them or offer to hold on to the securities if the auction dividend is at least at a level they specify in advance
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
jose melicias from the research department of drexel burnham lambert said brazil would be trying to export as much as it can this year because of its economic situation
a major reason for the inflows was the markets conviction that the mark was headed higher
he would not make any specific forecast but said he was optimistic for further growth in fiscal 1988 in the companys brewing and food products operations
in its world production and trade report the usda said sales of french corn for nearby delivery have been confirmed with an export subsidy of about 145 dlrs per tonne bringing the french price to about 72 dlrs per tonne fob
juno lighting inc juno 1st qtr feb 28 net
measures were being taken to encourage exports and production incentives were being considered
the board did not consider it an official offer a continental materials spokeswoman said
in addition to purchase a majority of the brescia italy based company stanadyne said it acquired a minority interest in ambacs us operation headquartered in columbia sc
the merger is expected to be completed in june they said
shr loss 130 dlrs vs profit 29 cts net loss 334 mln vs profit 7386000 sales 1682 mln vs 1284 mln year shr loss 161 dlrs vs profit 30 cts net loss 414 mln vs profit 7055000 sales 5275 mln vs 3667 mln note latest year net both periods includes 394 mln dlr provision for closing 25 underperforming stores
you cant expect people to move from new york or sydney and trade down
hoechst celanese corp a recently formed subsidiary of hoechst ag of frankfurt west germany filed with the securities and exchange commission for a 500 mln dlr debt offering to repay part of its merger debt
he mentioned car exports which accounted alone with sales of 617 mln dlrs in the jan sept period against 194 mln dlrs in a similar 1986 period
abu al bukhoosh was producing 57000 barrels per day bpd at the time of the attack but the sources said it would resume at a maximum of half that level because of reduced staff and the fact only four of five wellheads were now operable
keycorp said the transaction is designed to be tax free to commercial security shareholders
strata corp stata year dec 31 loss
this should keep substantial pressure on exporters to undertake sales despite the drop in prices she said
crownamerica inc crna 2nd qtr ended feb 28
japan still wants speculative dlr deals limited
fees total 1 1 2 pct comprising one pct selling concession and 1 2 pct management and underwriting combined
however underwriters away from the bear stearns syndicate said the issue may have sold even faster if prudential bache did not offer the general electric credit notes on friday
a joint venture controlled by dallas investor bradbury dyer said it had acquired 377000 shares or 99 pct of the common stock of munford inc
us tallow production and stocks
it also had 106 mln extraordinary income in 1986 remaining after provisions from the sale of its maremont corp subsidiary in the united states
united security unse to buy robert brown unit
us house panel eases soviet export controls
intense speculation the us might make a fresh eep wheat offer to the soviets has boosted grain prices significantly in recent trading sessions
in such relatively small amounts the new issues were unlikely to have a significantly harmful effect on government bond prices in general dealers said
the increasing presence of ec wheat in brazil comes at a time when the brazilian wheat board bwb expects the wheat import market will expand to 34 mln tonnes from the current forecast of 30 mln in the 1986 87 year
jucker said the losses plus those carried forward from 1985 had wiped out the companys remaining reserves and exceeded legally allowed levels forcing alusuisse to adopt a 50 pct capital cut to be approved by shareholders on april 22
neither perelman nor his spokesmen returned telephone calls seeking comment
rosenbaum said because of the stance of brazil the outlook for an agreement to reintroduce coffee quotas at the september international coffee organization meeting is hard to predict
ibm calls 250 mln dlrs of 9 7 8 pct notes for redemption
central bank governor chang chi cheng told reporters the increase in reserves was the result of heavy intervention by the bank on the local interbank market
the pumping station was about 20 km from the reventador volcano near the epicentre of the quake which ecuadorean seismologists said registered six on the 12 point international mercalli scale
before seasonal adjustment consumer credit outstanding totaled 58037 billion dlrs at the end of january compared with 53129 billion dlrs at the end of january 1986
now a third of imported coffee will be sold as pure beans and two thirds as a ground mixture with a choice of 30 pct chickpeas or 30 pct barley
any trades would be negotiated
of the imports in the january november period those from cuba were up to 381 mln tonnes from 365 mln and from thailand to 292808 tonnes from 22800
the thyssen group did over 50 pct of its business outside west germany
in addition fleet and norstar have each granted the other an option to purchase such number of authorized buy unissued shares of common stock that will constitute 2499 pct of the fully diluted shares outstanding
crude oil netback values in complex refineries rose slightly in the us and the mediterranean last friday from the previous week but were lower elsewhere according to calculations by pipeline
it said management expects to recommend to the board that the dividend rate be maintained in 1987
short term interest rates are forecast to remain between 20 and 25 pct until the june quarter but will decline over the second half of 1987 88 to between 16 and 18 pct
speaking to reporters after nearly five hours of meetings with the 10 premiers mulroney said further discussions would be held in june and september to discuss the role of the provinces in approving any new trade deal
honeywell inc hon 1st qtr oper net
bond said merlin has a 625 pct working interest plus a 25 pct reversionary interest in the papua new guinea permit ppl 17 the site of the iagifu oil discovery
baker says us wants to stabilize exchange rates
however inclusion of texacos equity in the eastern hemisphere reserves of a nonsubsidiary company limited the decline to 291 billion barrels from 300 billion at the end of 1985
cyacq said it estimates that it needs 4075 mln dlrs to buy all cyclops shares that may be tendered and pay related fees and expenses
the acquisition was pursuant of a chapter 11 reorganization plan of american adventure
henry schroder wagg and co ltd said
canadian worldwide energy ltd said it acquired triton energy corps wholly owned canadian subsidiary triton petroleum ltd for the issue of 375 mln common shares of canadian worldwide subject to regulatory approvals
but japan has said gatt is not the right forum
a unit of banca nazionale del lavoro is issuing a 15 billion yen eurobond due may 12 1992 paying 4 1 2 pct and priced at 101 1 2 pct market sources said
ec external trade commissioner willy de clercq told journalists we maintain our position that the japanese concessions were not enough we hope that there will be an improvement he said
the credit line was agreed by a joint economic industrial commission
hogan systems hogn in acquisition
kevin boakes of greenwell montagu gilt edged cautioned against over optimistic forecasts but agreed a half point cut looked likely
oper net 466 mln revs 392 mln 12 mths oper net 65 mln vs 471 mln revs 590 mln vs 591 mln note eight months represents earnings following acquisition in may 1986 when company went private
the reason for the higher losses reflect lower prices as well as higher operating costs related in part to the fraudalent use of the network
hundreds of marines were on alert at 11 key brazilian ports after 40000 seamen decided to remain on indefinite strike even after the higher labour court yesterday ruled it illegal union leaders said
sugar exports between october 1 and february 28 rose to 449253 tonnes from 435727 in the same period of 1985 86
magma lowers copper price 025 ct to 6550 cts
he thinks the confrontation with brazil could end in a replay of a situation that occurred with argentina in 1984 and 1985
i believe that takeovers have become so abusive and so tilted in favor of the financial buccaneers that remedial action is required usx corp chairman david roderick said
it may be a shame but we are locked into this said dan glickman d kans chairman of the subcommittee on wheat soybeans and feed grains
a dozen of turkeys 55 banks have announced higher 1986 profits so far a trend bankers in the financial capital of istanbul expect to be reflected through most of the industry
the increase in consumer prices excluding food and energy at 04 pct in january for the whole oecd area was unchanged on the four previous months but over the year to january oecd consumer prices rose by 35 pct against 33 pct in december
the increase in us banks prime rates prompted concern about renewed inflation but the strength of the us dollar discouraged new buying
west german net currency reserves rose by 200 mln marks in the fourth week of march to 822 billion following a rise of 300 mln marks in the previous week the bundesbank said
towle has not yet submitted a reorganization plan under chapter 11
volcker said that given a choice between squeezing the budget deficit or squeezing investment he would favor squeezing the budget deficit
malaysias manufacturing exports rose by 245 pct to 151 billion ringgit in 1986 chairman of the export promotion council ahmad sarji abdul hamind said
will and senior vice president william d
bsd bancorp bsd 1st qtr net
gros speaking to reporters yesterday after his first meeting with brazils bank advisory committee since he was appointed last month also promised a clear statement of brazils economic policy would be made in the next few days
privately held rapid american corp said it has completed the previously announced acquisition of 66 kresge and jupiter stores from k mart corp
diamond star motors names additional suppliers
the outlook for french maize is better with 1986 87 exports to non ec countries now put at 700000 tonnes against 200000 tonnes at the end of january and against 155000 tonnes in 1985 86
he did not give figures
investors in industry international bv is issuing a 500 mln franc bond with warrants guaranteed by investors in industry plc lead manager credit commercial de france said
universal resources uvr to vote on merger
transport difficulties meant that by early february the cmb was holding unsold coffee stocks of around 750000 bags
they added that if member countries were unable to fulfil their quotas their extra tonnage would be reallocated to other members at the atpcs discretion
the dollar is near appropriate levels against european currencies and the yen and a further fall could damage confidence in the currency while endangering world economic growth a top bundesbank official said
theodor stadelmann dealer with bank julius baer and co ltd in zurich said he expects the dollar to hold steady against the mark and swiss franc but to weaken further against the yen possibly to 140 yen
reduction of trade distorting world agricultural subsidies an aim of most key participants in gatt multilateral trade negotiations is meaningless if import barriers continue to be erected samuels said
opec members denials that they are producing over their quotas sparked moves to cover short postitions
icahn has withdrawn his proposal to acquire the twa shares he does not already own due to the deterioration in market conditions
icn pharmaceutical inc icn 1st qtr feb 28 net
when other banks sought funds rates rose and large banks were able to place excess funds on deposit at a considerably higher average return
the potential for greater interest rate rises gives us concern
the undesignated line is reduced to zero
that was the date of the first mexican debt crisis
the debentures are convertible into the companys common stock at 20 50 dlrs a share representing a 2519 pct premium over the stock price when terms on the debt were set
colonial bancgroup said it acquired farmers and merchants bank a baldwin county bank with assets of 103 mln dlrs through an exchange of stock valued at about 12 mln dlrs
shr loss two cts vs profit 14 cts net loss 2515000 vs profit 28569000 sales 141 billion vs 8852 mln avg shrs 2392 mln vs 1044 mln year shr profit 33 cts vs profit 47 cts net profit 83750000 vs profit 76130000 sales 477 billion vs 281 billion avg shrs 1988 mln vs 983 mln note current qtr and year figures include gains on securities sales of 39 mln dlrs and 38 mln dlrs respectively
fed arranges three day system repos
ministers believed the paris pact was bolstered by japans promise of a 35 billion dlr supplementary budget
john glenn and john warner in kuwait as part of a gulf arab tour said at a news conference that top officials in the area appeared ready to discuss extra facilities needed if the us upgraded its defense role
hinkley president and chief executive officer of union central is expected to be named chairman president and chief executive of manhattan national the company said
industry sources said texas pacific has submitted lower reserve estimates for the field than statoil and shown little interest in its development
speaking at a house grains subcommittee hearing chairman dan glickman d kan proposed that congressmen and representatives of soybean growers meet with usda on the subject in the next two weeks
gowland said transcanadas offer is probably a fair price for the companys 361 mln acres of oil and gas land holdings
prices of oil stocks rose sharply today in response to higher oil prices and optimism about opec quotas
he said the company anticipates approval in japan the us italy spain and the uk for its ulcer treatment drug cytotech
however dome said its management and financial advisers would evaluate all proposals including transcanadas
loading and unloading of 14 ships stranded by the strike started this morning and will be completed as quickly as possible they said
base rate is currently nine pct
you have to look at the dollars peak compared with now and that was well before plaza he said
gatt council defers decision on semiconductors
paddy output in 1984 1985 was 6991 mln baskets it said
the rights will entitle holders of northeasts common shares to purchase additional shares at an exercise price of 60 dlrs a share the company said
it said consumption by industrialised countries should stay at 160000 tonnes and that international tin council creditors and brokers are not likely to dump their stocks excessively unless there is a large and abrupt price jump
i think we got a better deal
elxsi elxsf wins mcdonnell douglas md order
emery air freight corp said it plans to begin tomorrow a 40 dlr a share tender offer for 83 pct of the outstanding common stock of purolator courier corp
at january 31 wickes had 239 mln shares outstanding the company also said
the company said it believes many of the claims are overstated or without merit
bruce ginn cattle analyst for the helming group formerly lbas said the lighter cattle are being placed on feed mainly because of two factors low grain prices and higher live cattle prices
it said it lifted capital spending on fixed assets to 2696 mln dlrs from 1783 mln mostly on the shelf project
it will be paid in the form of commodities from ccc inventories
there are conditions which may indicate that the company will be unable to continue as a going concern auditors deloitte haskins and sells said in hawkeyes annual report to shareholders
terms of the deal were not disclosed
there is still a clamour for the sharing of benefits different sectors claiming their rights and duties
the reorganization also created four new positions for chairmen of shearsons operating divisions a move analysts speculated would allow shearson to be a stand alone company
it would take about 100 mln us dlrs to repair the pipeline the official who did not want to be named told 
charter power systems inc chp 4th qtr jan 31
brooklyn union gas co a new york gas utility will see its gas costs up sharply as a result of transco energy cos e decision to close its pipelines to transport spot gas sales energy industry analysts said
the west german discount rate remains at 30 pct and the lombard emergency financing rate at 50 pct
taiwans foreign exchange reserves bouyed by rising exports have hit a record high and are likely to soar to 72 billion us dlrs by the year end central bank officials said tuesday
shr 36 cts vs 68 cts net 100 mln vs 161 mln revs 4416 mln vs 4708 mln year shr 86 cts vs 177 dlrs net 291 mln vs 441 mln revs 143 billion vs 154 billion note 1986 fl yr net includes 93 mln dlr writedown of us oil and gas properties partly offset by 11 mln dlr extraordinary gain from tax gains and proceeds from sale of minnesota utility operations
resers fine foods inc to go private
on thursday the company said it was prepared to bid 33 dlrs a share up from its original 27 dlrs a share offer
regency cruises which operates both ships received a five year extension to november 1995 to the regent seas original charter agreement it said
brazil has to do business through the banks at this point said another official following an assessment of that countrys latest debt crisis
hertz said ascs county officials have had to make a large number of eligibility determinations for individuals and other entities such as corporations and partnerships in preparation for imposing the 50000 dlr per entity cap these offices already had a very heavy workload due to the large number of applications for both the 1987 farm programs and the conservation reserve program hertz said
while the world bank has a role to play in helping brazil it can27ot replace the imf as an overseer of the economy conable said
the new cds with maturities of six months one year and two years carry interest rates ranging from 407 pct to 512 pct he said
moore medical corp said it plans to acquire privately held penta products a wholesale distributor of generic durgs for undisclosed terms
no immediate plans for capital increase
however analysts noted that the amount of bellies put in storage has been light since the beginning of march and this is a potentially bullish situation
1986 net includes reversal of 597000 dlrs of reserves no longer deemed necessary and tax credit 340000 dlrs
uk money market shortage forecast at 300 mln stg
he said capel cure has deliberately set low commisstions because of this
opecs first half 1987 output ceiling was 158 mln bpd and its december pact had provisionally set a third quarter ceiling of 166 mln bpd rising to 183 mln in the fourth quarter
west german m3 money supply rose a seasonally adjusted 26 billion marks in february to 10351 billion the bundesbank said
american president aps to lease more ships
we can ban firms from certain countries from carrying out certain kinds of business while allowing them to carry out other kinds i hope we dont have to use these powers but i made it clear in japan that if our timetable isnt met we shall use them he said it would be unfortunate if britain and japan became involved in a tit for tat exchange adding that japan gained more than anyone else from an open trading relationship
the annual rate of growth in january was 11 pct up from 03 pct in december
in washington us defence secretary caspar weinberger said four us destroyers attacked and destroyed an iranian oil platform about 120 miles east of bahrain
cost of pik certificates to be eyed by congress
the outlook for future production in california is clouded by a lack of exploratory drilling now analysts said
convertible currencies totalled 18467 billion lire up from 14899 billion in january while european currency unit ecu holdings were 10156 billion lire against 10133 billion
rebates of up to 130 ecus per tonne were requested for a total of 55000 tonnes maize and up to 131 ecus for 105000 tonnes the sources said
he told reporters three or four countries out of opecs 13 members were mainly responsible for the overproduction but declined to identify them
dauster said there are no plans yet to renew negotiations at a later date
harris associates lp a chicago investment advisor said it raised its stake in builders transport inc to the equivalent of 466754 shares or 91 pct of the total outstanding from 335800 shares or 67 pct
meinhardt said domestic group turnover rose 67 pct to 3941 mln marks in the first two 1987 months against the same period last year but incoming orders fell 52 pct to 4566 mln
attributable profit 185 mln stg vs 165 mln making 664 mln vs 516 mln
a lot of questions have been raised by volckers departure
the monetary and credit growth figures for the december quarter were probably artifically inflated by unusually high growth in inter institutional lending activity on the short term money market russell said in a statement
fairfax said its flagship dailies the sydney morning herald and the melbourne age boosted advertising volume as did the australian financial review and posted extremely satisfactory performances
inflation in the 24 western industrialised nations in january was a revised 19 pct year on year
in the 1985 86 wheat year ended september 30 the awb exported a record 1596 mln tonnes
the government would follow with spending cuts in its economic statement on may 14 he said
japan which edged out britain as the leading importer of american wines in 1985 continued in second place
williams cos said it completed the sale of its agrico chemical co unit to freeport mcmoran resource partners lp frp for an initial 250 mln dlrs cash
shr basic 88 cts vs 122 dlrs shr diluted 83 cts vs 110 dlrs net 114108000 vs 140389000 avg shrs 1075 mln vs 1005 mln loans 664 billion vs 659 billion deposits 828 billion vs 844 billion assets 987 billion vs 967 billion
instrumentarium acquires nokia subsidiary
the issue is callable from march 31 1990 at 104 pct declining by 1 2 pct per annum to par thereafter but is not callable until 1992 unless the share price exceeds 150 pct of the conversion price
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
torchmark tmk sells sinking fund debentures
the philippines social security system sss is planning to buy eight mln shares in diversified brewer san miguel corp smc smc chief financial officer ramon del rosario said
standard chartered boosted bad debt provisions
he agreed with a questioner who asked if over two thirds of such problem country debt had been written off
usair said a manufacturers hanover affiliate is currently agent for its 400 mln dlrs revelving credit facility which would be replaced by the proposed two billion dlr financing
the new head of the bank barber conable has said this issue is being reviewed and will be part of a reorganization plan for the bank now being prepared
computer terminal said sedio also has the right to buy additional shares and increase its total holdings up to 40 pct of the computer terminals outstanding common stock under certain circumstances involving change of control at the company
imports of palm oil totaled 440 mln lbs compared with 513 mln lbs in december and 852 mln a year earlier
moodys may cut ecolab ecl up chemlawn chem 
the secs action which was approved by a 4 0 vote specifically removes a regulation against trading futures on designated foreign government debt securities on contract markets that are not located in the country that issued those securities
belgian money supply rises in fourth quarter 1986
malaysia is unlikely to meet its targeted output of five mln tonnes of oil palm in calendar 1987 oil palm growers told 
it had earlier reported 1986 income of 3327 mln dlrs or 228 dlrs per share
us sugarbeet plantings seen rising in 1987
apart from that the government will keep improving the investment climate in order to accelerate the development of the petroleum industry he said
dixons group plc dxnsl the british concern that recently acquired operational control of cyclops corp said it is exploring the possibility of selling the cyclops subsidiary busy beaver building centers inc
but he added that the suspension of payments to private foreign banks who hold the rest of the foreign debt would be prolonged though the government hoped to negotiate an agreement with these creditors
westerbeke corp wtkb 1st qtr jan 31 loss
shr loss six cts vs loss seven cts net loss 125000 vs loss 140000 rev 24 mln vs 22 mln year shr loss 13 cts vs loss 14 cts net loss 271000 vs loss 211000 rev 101 mln vs 82 mln
a 250 dlr spot charge will be added to the new york cocoa futures july delivery contract starting wednesday march 18 the coffee sugar and cocoa exchange said
the company said its board recommended that shareholders approve the merger of the oilfield service companies
west german gross green coffee imports in january fell sharply to 38616 tonnes from 54576 in january last year figures from the federal statistics office show
total shipments in the third year of the us ussr grains agreement which ended september 30 amounted to 152600 tonnes of wheat 6808100 tonnes of corn and 1518700 tonnes of soybeans
on march 30 andover group a two man general partnership which owns about seven pct of hbos stock filed preliminary proxy materials with the securities and exchange commission seeking to nominate an alternative slate of directors at the companys april 30 annual meeting
west german retail group kaufhof ag kfhgf is considering taking a stake in shipping and transport group hapag lloyd ag hplgf but has yet to reach a final decision a spokesman said in response to queries
energy minister masse said the federal government decided to provide cash incentives so a large number of non tax paying companies mainly small canadian firms will receive the full value of the incentive
allied bankshares inc abga 1st qtr net
shr seven cts vs five cts net 240000 vs 136000 loans 2645 mln vs 2517 mln deposits 3197 mln vs 3068 mln assets 3486 mln vs 3346 mln
on business employment lawson said employers will receive tax relief for retraining workers
treasurys baker says he stands by paris pact to foster stable currencies
shr loss 12 cts vs loss 16 cts net loss 214000 vs 309000 revs 3056000 vs 2545000 year shr loss 43 cts vs loss nine cts net loss 754000 vs loss 159000 revs 114 mln vs 114 mln
an expansion of 0 92 to feedgrains was opposed in last weeks subcommittee hearing on the bill with subcommittee chairman dan glickman d kan saying that more study of the consequences of decoupling on feedgrains plantings was necessary
his idea which many conservative economists find appealing has some backing among board members appointed in recent years by president reagan
a study by one of the swiss banks showed that in early 1980 the first year of the tax the volume for all swiss banks fell by up to 25 pct compared with 1978 and 1979 hofer said
producers claim the rebate was short of the level needed to obtain a price equivalent to the intervention price by over one ecu per 100 kilos and was 087 ecu short the previous week the sources said
he also said increasing acreage set aside requirements by five pct for wheat and feedgrains at program sign up was a move that could save about one billion dlrs but added that he would not be in favor of such a change
pitt des moines inc said it will acquire chicago steel corp in exchange for a portion of its stock
bp says no plans to close swedish refinery
trade analysts say tokyo is likely to outline industry plans to step up purchases of us chips and to propose a joint investigation into us allegations of chip dumping
under the plan chapman will exchange securities and cash for all outstanding 12 pct senior subordinated debentures due 2000 and will sell a controlling interest to troon partners ltd
both m2 and m3 are will be at the low end of their target ranges in march the fomc minutes are neutral for the bond market zielonka said
far east traders expect 20 dlr oil in january
g usda projected exports for season
the reorganization is considered a major initiative by conable and is being closely watched by the agencys 151 member countries as an indication of his management style and priorities
thomson mckinnon income fund dividend
currency sectors continue to feature eurobond trade
erbamont nv said its major shareholder montedison spa which owns 85 pct of its common and farmitalia carlo erba its 75 pct owned subsidiary have acquired antibioticos sa and related subsidiaries
the trade law changes are to become part of a major congressional and administration effort to turn around the record us trade deficit of 169 billion dlrs last year by opening up foreign markets and making us products more competitive
we fit better with monier he said
it said it hoped purolators management would continue with the company
florida commercial banks inc flbk qtly div
oil firms cut 1987 indonesian exploration spending
it said the venture will rename the hotel the four seasons biltmore at santa barbara and invest over 13 mln dlrs in improvements on the 228 room property
shr 54 cts vs 49 cts net 702 mln vs 640 mln note share adjusted for two for one split in july 1986
gold trading in tokyo is dominated mainly by japanese trading companies while credit suisse is the major foreign participant
outstandings now exceed 56 billion dlrs the company said
they said that after initial jumps they expect prices to stabilise and hover around gsps for the next few months
the us leads in production of medium and high end ics but japanese makers are keen to develop their own high end production skills the analysts said
britain had a visible trade deficit of 26 billion stg in the fourth quarter of 1986 against a revised deficit of 29 billion in the third quarter official statistics show
italy has sent eight ships including three frigates and three minesweepers to the gulf to protect italian merchant shipping there
im not so sure we would be interested in getting back into that business however guinn generally applauded the us recommendations saying they would give more latitude for the bell operating companies to expand into non regulated businesses and provide more flexibility to form strategic alliances with other companies
1st source bank said it completed its merger with community state bank of north liberty ind
the most seriously affected fields were late seeded fields on normal maize soils
gunnar gold inc said it and mill city gold inc signed an option and joint venture agreement with tyranex gold inc on the tyranite gold property in ontario
the bond is available in denominations of 1000 and 10000 stg and will be listed in luxembourg
this rise in inflation will reduce real disposable income growth to only 13 pct in 1987 from 29 pct in 1986
commission members would be appointed by the sec
he said several agencies currently helped fema to manage the stockpile and decide how much to sell to help the deficit
banks and merchant banks accounted for 32 pct of the total building societies 30 pct life assurance companies 20 pct insurance companies 11 pct and pension funds seven pct
goldman sachs sells signet sbk unit notes
santos alvite last night met venezuelan energy and mines minister arturo hernandez grisanti and will today hold talks at technical level officials said
it also publishes and distributes speciality books under four imprints and operates two book clubs
ecuadors deputy energy minister fernando santos alvite arrived here last night for talks on further venezuelan assistance to his countrys oil industry following last weeks earthquake officials said
conagra cag completes merger with trident
the us economy provided them with a giant market for their goods giving them a way to earn income badly needed to service their foreign debt
but members have jealously guarded their sovereignty in economic and monetary matters
both dividends are payable may 8 to shareholders of record april 3
crude oil prices rose 44 pct in february after a 197 pct january rise and were off 213 pct from the year ago level
united has got to consider this proposal
west point pepperell inc wpm rose 1 7 8 to 67 1 8
berry a privately owned company which already owns 806 pct of norris oils stock said the agreement calls for norris public shareholders to receive 00333 berry common shares for each norris share held
net financial and operating profit 111 billion vs 8251 mln
banque francaise du commerce exterieur bfce is issuing a 150 mln dlr seven pct bond due april 1 1992 at par lead manager societe generale said
taiwans imports of us farm produce last year amounted to 141 billion dlrs against 152 billion in 1985
zimbabwes beef exports to the european community ec potentially worth 70 mln zimbabwean dlrs this year may be jeopardised by an outbreak of foot and mouth disease in southwestern matabeleland industry sources said
soy cake meal cont 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 usage thous short tons domestic 20000 19750 19090 19118 exports 6500 6350 6036 6008 total 26500 26100 25126 25126 end stcks 270 315 212 212 avgprice 145 150 145 150 15490 15490 note price in dlrs per short ton
loctite corp said it expects third quarter earnings to be higher than security analysts forecasts of 75 to 80 cts a share
the banks are in need of investments that provide earnings
both brazil and its creditors have a strong incentive to work together volcker said
kansas also said it argued in the icc filing that santa fe had not met the legal requirements justifying the commissions reconsideration of the proposed merger of santa fe and southern pacific two railroads that it said basically parallel each other throughout their routes
international proteins recently acquired clarkes family business great south beach sales co for 900000 restricted common shares of which 350000 have been issued to date
shr profit one ct vs nil net profit 74000 vs profit 10000 revs 925000 vs 112000 avg shrs 10 mln vs nine mln six mths shr loss nil vs loss one ct net loss 16000 vs loss 90000 revs 1855000 vs 333000
yesterday chrysler presented four investment bankers with a list of bonds and asked them to submit bids by this morning
the american motors spokesman said he had not seen any indication that a higher offer would be received from chrysler although he added i dont know what the conversation is in the meeting he repeated statements made earlier in the week by the automaker that todays meeting will probably not result in a final decision on the chrysler bid
franklin high yield sets higher payout
the company added that any holder choosing not to convert the bonds during either of the two special conversion periods will receive no interest on bonds still held after may one
alex
however negotiations for the block repurchase were unsuccessful and have been terminated
but they said its is not redeemable before march 15 1989 unless paine webber groups common stock price equal or exceeding 140 pct of the conversion price at the time
noting that it typically reports first quarter results in late march said the report is likely to be issued in early april this year
as saudi arabia attempts to shift the weight of economic development from the public to the private sector one of the biggest tasks will be to convince businessmen to channel personal savings into industrial projects within the kingdom and refrain from the temptation to invest abroad
however the gao has decided to reassess those estimates based in part on usda criticism department officials said
qtly div 10 cts vs 10 cts prior pay march 31 record march 16
iraq is currently producing around two mln barrels per day compared to its second half quota of 154 mln they said
the agency said average weekly temperatures were below normal in the southeast near normal in the southwest and northeast and above normal in the northwest
agreement on the new five year pact which uses a buffer stock to keep prices stable by selling or buying rubber as rates rise or fall was reached at a two week session here under the auspices of the united nations conference on trade and development unctad
the united states said last week it would support a 500 mln dlr bridging loan for argentina
in addition one australian dollar bond was issued totaling 220 mln dlrs with a portion of interest and principal payments to be met in marks
aluminium scrap recovery and usage and output of secondary metal will continue to rise said shearson lehman brothers in a review of the secondary aluminium market which details cost and demand factors
zambian late 1986 copper output up sales down
manila is seeking a spread of 5 8 percentage points over the london interbank offered rates libor monsod said right now we are saying to the banks lets share the financing burden ongpin said last month the countrys consultative group of multilateral and bilateral aid donors had endorsed a growth facility to bridge the funding gap
the vessel ss liberte will be renamed the canadian star and will be used for cruises to montreal from new york beginning in june
he said also at a news conference that he would recommend to the white house that the fill rate of the strategic petroleum reserve be increased from its planned 35000 barrels per day
the trade surplus in february widened to a provisional 104 billion marks from 72 billion in january she added
sandoz today reported without comment a rise in net profits to 541 mln francs from the previous 529 mln and a five pct increase in dividend to 105 francs per 250 franc nominal share
the ministrys analysis said the reduction in debt servicing during 1987 1989 amounts to an effective grace period something the venezuelan negotiators sought from creditor banks but were not granted
he declined comment on whether the ibc will adopt a policy of opening registrations for up to six months in advance as some exporters had suggested
entre computer centers inc etreo 2nd qtr loss
international technology corp said it has purchased privately held western emergency service inc in a stock transaction
sole manager kidder peabody said the first floating rate class has an initial rate of 6755 pct that will be reset quarterly at 40 basis points over three month libor with an 11 pct cap
surely what would have been sauce for the goose would have been sauce for the gander said sidney rosdeitcher a samjens lawyer
moreover volckers successor alan greenspan has little experience of international affairs and third world debt
i cant take the burden only to the banks he was not sure how long it would take to reach a solution
at the tenders depending on market conditions the bank injects liquidity into the market by buying up first category paper
however she said the us remains a supplier of last resort for the soviet union noting that the soviets have only just recently begun their first us grain purchases of the 1986 87 season by buying 225 mln tonnes of corn
economists generally dont expect such large gains over the next months but are looking for an upward trend throughout the year
the results were slightly better than analysts forecast and the share firmed to 231p from 222p at last nights close
further argentine coarse grain losses feared
shr 17 cts vs 37 cts net 1783000 vs 4028000 nine mths shr 52 cts vs 103 dlrs net 5587000 vs 111 mln
fitzwater said the president was forced to act in the japanese microchip case because tokyo had failed to fulfill an agreement to make some corrections noting that there are enormous pressures in the congress and the land for the united states to take a tough stand he said this was a case where we felt we simply had to act fitzwater said the decision to impose sanctions was well considered by this administration and not taken lightly while the white house official held open the possibility that washington and tokyo will settle their trade dispute he indicated a settlement probably would not come in time to head off the sanctions
bentsen said canada restricts trade 15 different ways while the united states uses only six trade restriction methods
the kwacha slid to around 15 per dollar under the auction losing 85 pct of its value in 16 months but since the end of january has been revalued to a fixed rate of nine per dollar
the export companies were not identified but the sales included computers made by digital equipment co dec of maynard mass
the company said railway maintenance had 1986 revenues of 16 mln dlrs
after citing the reasons why the fed probably has not tightened credit to the degree suggested by the data economists said the fact that the fed delayed arranging overnight injections of reserves until the last day of the statement period was a good sign of a more restrictive policy
a detailed package on how the buffer stock manager will buy and sell cocoa was presented to a buffer stock working group this afternoon a big step toward a very interesting stage of negotiations delegates said
the naira has depreciated against the dollar by 62 pct since the auctions known as the second tier foreign exchange market sfem began last september 26
in addition simon the companys biggest shareholder holds about 960000 of the 62 mln ouitstanding shares
ecuador gets loan to help repair oil pipeline
bay state has 75 mln dlrs of long term debt and preferred outstanding
environmental power corp powr year net
shr 217 dlrs vs 142 dlrs net 24907000 vs 16117000 nine mths shr 405 dlrs vs 375 dlrs net 47105000 vs 42874000 assets 966 billion vs 925 billion deposits 806 billion vs 780 billion loans 8425 mln vs 7111 mln
the qualification related to certain tax liabilities amounting to 65 mln dlrs associated with a medical division sold by brunswick in 1982 he said
louvre accord still in effect japan official says
may had planned to make the acquisition an expansion of its sibleys department store co which operates in syracuse rochester and buffalo ny
while such approaches may have some political appeal they are impractical and ultimately counterproductive he said
i think thats the one thing weve got to avoid right now regan also called on the government to impose restrictions on program trading
more than one official has warned opec would find its solidarity under scrutiny by the end of april or start of may it said noting demand usually fell with the onset of summer
they are increasingly resigned to there being little legal recourse in saudi arabia and that rescheduling with payments geared to a companys cash flow often very low is the only way to recover at least a portion of outstanding loans
shr 38 cts vs 52 cts net 3980000 vs 5524000 revs 374 mln vs 448 mln nine mths shr 76 cts vs 99 cts net 7983000 vs 105 mln revs 1004 mln vs 1236 mln note 1987 qtr and nine mths includes loss 9000 dlrs and 432000 dlrs or four cts per share from repurchase and retirment of debt
mtly div 104 cts vs 108 cts prior paid april 1 record march 31
it said its first estimate of planting intentions indicated cuts of 15 to 20 pct in plantings in the northern region of picardy and the paris basin which harvested 192000 ha last year
metal bulletin zinc producer price
under nibs 200 mln dlr program 100 mln has been sold in the us and 25 mln in europe
i wouldnt be surprised if other multilateral institutions are faced with similar constraints he said
however with protectionist attitudes on the rise in this country this source of growth is at risk he added
the banks have apparently yet to pass final judgment on the new proposal
chemlawn also said it adopted a shareholder rights plan or poison pill during a 120 intermin safeguard period its board adopted to deter attempts to acquire the company through any means other than an all cash tender offer while it seeks other purchasers
they are matters of a different category he said
the currency jumped to 06858 63 us dlrs and traded as high as 06875 before retreating to around 06864 69
and it is possible that final data will show a larger draw particulary for march it said
it said the mine has an annual output capacity of three mln tonnes of sulphur iron ore which can be used without processing because of its high quality
volcker warned a further dollar fall might force the politically independent fed to drive up interest rates
computer network technology corp cnt said that quantum venture partners lp a private investment limited partnership has acquired an additional 600000 shares of cnt common stock raising its stake in cnt to 153 pct from 96 pct of the currently outstanding shares
a survey estimates opec output to be 147 mln bpd this week
unocal corp said its union oil co of california unit is making a public offering of 450 mln dlrs of long term notes
wedgestone realty wdg acquisition approved
the cumulative preferred stock will become convertible with voting powers to an equal number of common shares following the us government approvals
to be eligible for coverage under the cccs intermediate export credit program credit terms must be in excess of three years but not more than seven years
the payment date is may 6
but mark swap opportunities are limited
prudential to form real estate brokerage unit
miyazawa says time has come for major nations to act on exchange rates
bull and bear group inc bnbga year end dec 31
it has been well established that high cholesterol levels will have a higher level of heart disease he said
it will help us in getting the negotiations underway lyng told in an interview tuesday
centel corp said it sees 1987 first quarter results below those of 1986 due to regulatory limits on telephone earnings and 15 cts to 20 cts a share dilution from 1986 acquisitions
the issue settles on april 27 with no accrued interest
northern star holdings ltd said britains associated newspapers holdings plc will hold 999 pct of its enlarged issued capital after applying to acquire 159 mln shares in its recently announced placement
defense department spokesman fred hoffman told reporters that the second platform had been abandoned by iranian personnel during the shelling and destruction of the first rig
producers and consumers representing most of world trade in natural rubber adopted a new international natural rubber agreement inra aimed at stabilizing world prices over the next five years
henley group said it ended talks on buying southern pacific from santa fe southern
bramall to acquire gelco for up to 263 mln dlrs
japanese business groups are calling for staged farm reform to shift some of the burden of trade friction and economic restructuring away from the manufacturing sector and onto the farm sector
nikko securities co ltd one of the big four japanese securities houses is responsible for corresponding with liffe on these matters
to fitness tfit in distribution deal
the money could be spent on products which would have a more direct impact in boosting domestic growth it added
it estimated the 1985 86 crop at 808 mln vs 808 mln last month
he said a half point cut would ensure continued support for sterling at least in the near term
the leveraged buyout is being financed by a syndicate of seven banks led by the security pacific national bank unit of security pacific corp spc the announcement said
asked why only japan was committed to fresh measures in the statement he said japan was exceptional among the seven because the yen appreciated against the dollar while other major currencies largely have been stable
it features a swap agreement but a mitsubishi bank spokesman declined to give further details
yeutter says us should stress trade negotiations as long term us trade policy
share market analysts said speculators were buying the stock on belief that harcourt would bid for reed in an effort to escape the unwelcome two billion dlr bid from robert maxwells british printing and communication corp bpcll such a move would have made harcourt too big for bpcc to take it over analysts added
sosnoff has small number of caesars caw shares
cubas november 1986 exports totalled 158000 tonnes compared with 190000 tonnes in 1985 and decembers total was 237000 tonnes down from 518000 tonnes the year before
first kansas city analyst jonathan braatz said that block will benefit greatly from lower tax rates in fiscal 1988
the sale has been opposed by the us commerce department and the us defense department in part on national security grounds
the paper said rainfall during the last 10 days of march in areas south of the yangtze had been much higher than normal
issue volume is likely to be 1200 to 1400 billion yen against 475 billion in march they said
proceeds will be used to redeem the companys outstanding 8 3 4 pct convertible subordinated debentures of 2008 burlington said
the us embassy said in its annual agriculture report on indonesia there were growing signs that actual output was lower than official figures
asked how he would respond to farm groups and congressmen urging the us to offer a wheat bonus to the soviet union lyng said he would be listen but be non committal
non callable to maturity the issue is rated a top flight aaa by moodys investors service inc but aa by standard and poors corp
the spokesman also said texaco trading and transport inc would continue to acquire and market texaco lease production as well as other lease production
philippine coconut product exports fall in january
utilities which were a positive influence in the overall 1986 trend should be a pocket of strength again this year
the seasonally adjusted march average of m 2 plus cds rose 08 pct from february when it rose an identical 08 pct from a month earlier it said
coloroll agrees to buy us wallcoverings company
political leaders have said the budget will not hurt ordinary people as taxes on basic food and other essential goods are unlikely to change
it said approval would require 66 2 3 pct of votes cast
during the us bombing of alleged terrorist targets in libya last april france refused to allow british based us planes to overfly its territory forcing them to take a circuitous route
european coffee trade proposes new quota formula
noting that georgia powers share of the vogtle increase is 313 mln dlrs southern said this will result in a charge against earnings of 177 mln dlrs after taxes
taiwan introduced a sweeping tariff cut on some 1700 foreign products last january aimed at helping reduce its growing trade surplus with the united states the islands largest trading partner
after falling to a record low of 14470 yen this morning the dollar edged back up in late trading to end at 14620
dealers in all centres agreed that markets would be wary in pushing the dollar too far too quickly in the coming months while central banks appear resolved to use their muscle to support the paris accord
we can process fresh coconut without drying the meat in the sun
the company said the transaciton shoould be finalized in early april
unemployment was up from 28 pct a year earlier
ohio edison oec sells 30 pct of nuclear interest
the rise in total operating profits enabled bfg to step up risk provisions with country risks particularly emphasised because of the continuing difficulties of some countries
they obviously will look for ways that are probably more in line with the silent hand than what they have tried thus far crowe told an american stock exchange conference
a bundesbank spokesman said in answer to enquiries that the withdrawal of funds did not reflect a tightening of credit policy but was to be seen in the context of plentiful liquidity in the banking system
a drop in argentine corn crop prospects could also affect soviet corn buying an agriculture department source said
crude oil imports in the week fell to 340 mln bpd from a revised 360 mln api added
this takes the banks total help so far today to 372 mln stg and compares with its upwards revised estimate of the shortage in the system of around 400 mln stg
meanwhile the federal funds rate average edged up to 614 pct from 608 pct
the federal reserve is expected to enter the us government securities market to add reserves during its usual intervention period today economists said
bsn bsn has purchased macgregor mgs stock
ps indiana pin to redeem double digit debt
phillips petroleum co chairman c
a major tax reform including the introduction of a western style valued added tax is planned for january 1988 in an effort to cure problems in state spending
czarnikow expects lower european sugar output
santos said the move had been explained to fellow opec members during last weeks meeting in vienna when an increase in ecuadors quota to 221000 bpd from 210000 was approved
marathon national bank year net
allied stores als sells dillard dds two units
union pacific resources formerly champlin petroleum said it raised posted prices for crude oil by 50 cts a barrel effective yesterday
hall and co inc fbh 4th qtr loss
1985 results restated for three for two stock split
yesterday the government sent thousands of troops supported in some instances by tanks to occupy nine oil refineries and six areas of oil production
s p may downgrade chi chis chic convertibles
tmoc shares jumped to 460 dlrs on the announcement from its friday closing price of 415
the parent bank balance sheet rose 89 mln marks to 132 billion while business volume was almost unchanged at 148 billion
saudi arabia will not agree mad oil price rise
the new york times also said gwinnett county a northeast suburb of atlanta is the fastest growing county in the country
senate finance committee chairman lloyd bentsen said the resolution may jeopardize the viability of the proposed free trade agreement between the two countries which are each others largest trading partners
in regards to safe drug use the delegates approved a plan asking that nppc be active in establishing a national safe drug use program
the bank said domestic earnings rose to a record 125 mln dlrs in the second quarter a 52 mln dlr increase from the year before due to higher business volumes and securities gains as well as a better yield from its domestic non accrual loan portfolio
itel itel gets financing for anixter buy
bank of new england corp bkne qtly dividend
shr 81 cts vs 66 cts net 5011000 vs 2314000 revs 573 mln vs 176 mln note results include extraordinary gains of 1593000 dlrs or 26 cts a share in 1986 and 451000 dlrs or 13 cts a share in 1985
since then the trend has been down
brooklyn union gas cos brooklyn union exploration co inc unit said it entered a 200 mln dlr three year gas and oil exploration and development venture with smith offshore exploration co
the statement said a positive cash flow of 381 mln stg for the first nine months will diminish in the final quarter due to corporation tax and dividend payments
they estimated development costs for the mine and mill would total 211 mln dlrs including three mln dlrs of working capital
manly molpus also said the industry would file a petition challenging koreas ban of us meat products
qtr ended feb 28 shr 17 cts vs 22 cts net 2041000 vs 3329000 revs 466 mln vs 489 mln nine mths shr 65 cts vs 82 cts net 9290000 vs 127 mln revs 1427 mln vs 1398 mln
shr profit eight cts vs loss 23 cts net profit 251000 vs loss 731000 revs 291 mln vs 259 mln backlog 189 mln vs 125 mln
the vein is continuous averaging four feet thick plus an altered mineralized hanging wall
the us agriculture department announced the prevailing world market price adjusted to us quality and location for strict low middling 1 1 16 inch upland cotton at 5269 cts per lb to be in effect through midnight march 5
baldrige predicts end of us japan trade dispute
those who took their land completely out of farm production rather than passing it on to their heirs would have received more generous payments
baker told the committee that such an approach could worsen their difficulties unless the new financing can be productively absorbed and is consistent with their ability to grow and service debt he said that the debt initiative that bears his name is a long term approach and that further progress will be gradual and will vary among nations depending upon their own determination to implement growth oriented reforms and the continued active support of the international community
other plants or parts of plants in pennsylvania indiana alabama ohio and chicago had been previously idled
floating rate notes denominated in a foreign currency a relatively new wrinkle on wall street will probably be issued infrequently because the so called window of opportunity opens and closes quickly traders say
the company said cook and anderson will form a new company with the sale called amtech holdings inc
the february 22 louvre accord called for efforts to stabilize currencies at then current exchange rates
the repurchase agreement yields compare with the 38125 pct one month and 37500 pct three week commercial bill discount rates today
it recently disclosed that it expects to report a profit in excess of 35 mln to 40 mln dlrs for 1986
linear films lner sees lower fourth qtr net
an embassy official declined to identify which issues remained to be resolved and when the talks would resume
uk money rates fall as bank approves base rate cut
merchant and investment banking 8147 mln vs 6322 mln bullion broking 475 mln vs 302 mln us government security dealing 294 mln vs loss 329000 investment management and unit trusts 1062 mln vs 788 mln other activities loss 312 mln vs profit 142 mln interest on loan capital 1782 mln vs 1490 mln
topsoil moisture was rated 30 pct adequate and 70 pct surplus and subsoil moisture was rated 100 pct adequate
avinda video inc said its debenture holders agreed to convert 33 mln dlrs of 13 pct subordinated debentures to common stock at a conversion price of 40 cts a share subject to shareholder and regulatory approval
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
a meeting of leading politicians bankers and economists has forecast austrian real gross domestic product growth for this year at between 05 and 15 pct a government spokesman said
the federal bureau of statistics has not yet released last months import and export figures
the payout represented 276 pct of group net profit against 282 pct last year
the united states recently has been taking the position that countries that take needed economic reform measures relying more on market forces and private enterprise should be encouraged by assistance from the imf and development banks
midland co said its board declared a two for one stock split subject to approval of a doubling of authorized common shares at the annual meeting on april 9 and an increase in the quarterly dividend to 12 cts pre split from 10 cts
the half yearly report said exports increased about 30 pct in july december 1986 while imports rose by only six pct during the period
royal dutch shell offered 55 dlrs a share for the 305 pct of shell oil it did not already own in january of 1984
last month the company said it expected net profit to fall below 70 mln marks this year from 753 mln marks in 1985 86
bank of japan intervenes buys dollars around 14590 95 yen tokyo dealers
they are chase manhattan corp cmb chemical new york corp chl irving bank corp v manufacturers hanover corp mhc mellon financial corp mel and security pacific corp spc s and p said the action on chase chemical irving and manufacturers primarily reflected continued vulnerability to lesser developed countries and median financial performance
greenmail is the payment at a premium for shares held by an unwanted suitor and a poison pill is typically the issue of securities to shareholders which make a takeover more expensive
the new issue could raise the banks share capital by 200 mln finnish marks from the present 226 billion it said
producers met this afternoon to review the market situation but had only a general discussion about how further negotiations should proceed a producer delegate said
it said in a statement that the loan will help finance the contruction of a 279 km track for high speed tgv trains between paris and le mans in western france and tours in the south west
mitsubishi corp mittt said it will issue a 50 billion yen unsecured seven year convertible bond and a 30 billion yen unsecured nine year convertible bond on the domestic capital market through public placement with nikko securities co ltd as lead manager
crude output increased to 98600 tons in january from 93300 tons revised lower in december
last year japan imported about 600 tonnes of gold but the government had bought about 300 tonnes for minting coins to commemorate the 60th year of emperor hirohitos reign dealers said
obsolete refineries poor transport and badly maintained plantations were barriers to any short term recovery in output he added
oper shr loss 30 cts vs loss 25 cts oper net loss 2138000 vs loss 2312000 revs 993 mln vs 894 mln year oper shr loss 40 cts vs profit 47 cts oper net profit 4294000 vs profit 8793000 revs 3909 mln vs 3605 mln note excludes discontinued operations loss of 133 dlrs a share vs 535 dlrs a share in the quarter and loss 152 dlrs a share vs loss 1364 dlrs in the full year
members of the seven member kuala lumpur based atpc account for some 65 pct of the worlds tin output
the tax had been introduced last september at the same time as a subsidy of eight ecus per tonne was brought in for exports of maize to spain from other ec member countries
we expect sulphurs pricing structure to strengthen during the current year probably in the third and fourth quarters
the ministers were meeting to discuss a plan for voluntary plant closures drawn up by the industry lobby group eurofer which it calculates would cost around 22000 jobs
french say wheat stocks forecast no surprise
in addition farah said it received shareholder approval to change its name to farah inc from farah manufacturing co
regarding sterlings relationship with oil leigh pemberton said that the pound could be seen being undervalued overall
smolinski of data resources agreed that the surplus would persist until 1990
under the government plan for repaying the 78 billion dlr private debt the central bank will guarantee debtors their dollars at 75 with a premium of 450 per dollar
some analysts today recommended clients not buy burlington at its current levels
the deal is subject to formal approval from the swedish central bank the statement added
but the speculation faded in early february and interest rates climbed as the government remained adamant in maintaining the peg thus triggering an adjustment on the fixed rate capital market
s p upgrades williams cos wmb debt securities
ef hutton lbo inc said the tender offer by its wholly owned unit pc acquisition inc for purolator courier corp pcc expired at 2400 edt yesterday without the purchase of any purolator common stock
qtr ended april four shr profit eight cts vs loss 22 cts net profit 341000 vs loss 903000 revs 584 mln vs 463 mln six mths shr profit 35 cts vs loss 19 cts net profit 1466000 vs loss 767000 revs 1214 ln vs 959 mln
the icos executive board session here this week has so far barely touched on the quota debate demonstrating general unwillingness to revive talks while chances of success are still remote producer delegates said
bonus reg may 6
but for the first time since the formation of the six nation gulf cooperation council gcc in 1981 there are signs that a much mooted currency union could come into force soon
dutch money market debt eases in week
he told a radio interviewer he saw no reason to revise his target for 1987 after the february monthly result of between 01 to o2 pct following a 09 pct rise in january three pct year on year that forced the government to revise an earlier target of two pct to a current 25 pct
total m2 and local m2 rose 320 pct and 249 pct respectively from february 1984
but reagan was expected to assure chirac that he will not agree to a deal at the geneva superpower talks that would give the russians superiority in shorter range systems diplomats said
starrex mining shares rose 40 cts to 475 dlrs in trading on the toronto stock exchange
the rights dividend distribution is payable july 9 to shareholders of record july 9
argentine corn sales to ussr lower usda report
japanese feed and starch makers actively bought us corn last week c and f basis for july september shipment in view of bullish freight rates following active inquiries by the soviet union trade sources said
shr loss 27 cts vs loss 227 dlrs net profit 2150000 vs loss 14700000 revs 1213 mln vs 698 mln note shr after payment of preferred stock dividends
the total represents 96 pct of the workforce compared with 100 pct in february
reduced production of natural gas and lower utilization of domes offshore drilling fleet in the beaufort sea also contributed to the decline it said
conable said the bank must step in to help relieve the debt crisis which has prompted a number of us commercial banks to write off a portion of their third world loans
babcock expects further progress in 1987
us officials have repeatedly charged that the japanese public sector is closed to us supercomputer sales despite us firms technological lead in the field
takashi ishihara chairman of the japan committee for economic development said the accord will not prevent the yen from rising further
benequity has 57 mln units outstanding
notes in circulation totalled 1616 billion dlrs up 50 mln dlrs from the week before
belgian december industrial output falls
although pricing on many credit facilities has become extremely fine in recent years because of the keen competition to win mandates morgan guaranty said banks would be compensated fairly since this is a special purpose facility which must be completed quickly with signing expected in about 10 days
ico observers doubted brazil or key consuming countries are ready to give sufficient ground to convince the other side that reopening negotiations again would be worthwhile they said
usair to buy 55 pct of 170 mln piedmont shares tendered
the company said the discussions have led to a general understanding by which nippon life would purchase a 13 pct equity investment in shearson lehman for approximately 530 mln dlrs and american express shearson lehman and nippon life would explore mutually advantageous nonexclusive business and investment opportunities the company said a definitive agreement on the matter is subject to a number of conditions including approval of the american express board and the japanese ministry of finance
in other news us home said its shareholders approved an amendment to its companys certificate of incorporation relating to the liability of the companys directors
the new zealand government borrowed 100 mln stg on the eurosterling market to refinance a loan of the same amount maturing in june finance minister roger douglas said in a statement
though some liquidity from bills bought on thursday flowed back into the market today the bulk would not return until tomorrow the start of the new month dealers said
he said the latest discount rate cut to 25 pct should stabilize exchange rates and expand domestic demand
moodys said it affirmed easterns debt ratings amid expectations that recent improvements in the units operating measures would be maintained
the five year bond for inspectorate international finance nv gives investors options on two separate warrant series a and b exercisable into participation certificates in parent and guarantor inspectorate international ag
in its report on export markets for us grains the department said south africas corn exports in the 1986 87 oct sept season are estimated at 25 mln tonnes up 40 pct from the previous year
the one dlr increase brings west texas intermediate wti the us benchmark crude to 1700 dlrs a bbl the company said
vbi corp an offshore based investment firm told the securities and exchange commission it raised its stake in the france fund inc frn to 681800 shares or 91 pct of the total from 551000 or 74 pct
national bank of hungary first vice president janos fekete said he hoped a planned eight pct devaluation of the forint will spur exports and redress last years severe trade deficit with the west
seipp said there were no grounds to paint too black a picture of the german economy since company profitability had improved over recent years and domestic oriented firms were profiting from cheaper imports because of the rise in the mark
boston bancorp said its board declared a two for one stock split payable march 31 record march 17
lincoln savings bank said its board declared an initial dividend of 10 cts per share payable april 17 to shareholders of record april 10
this follows sales of two other purolator units
the company also said along with local landowners and investors it will acquire 33 acre tract northtowne meadows in the toledo ohio area for development into 160 home sites and three acres of commercial land
citadel said it is continuing to pursue its claims against salomon inc sb which represented it in connection with the disputed proposed merger with great western that was the subject of the litigation
we have just avoided a trade conflict with the us and the commission used the tax threat to calm national farm lobbies american soybean association asa president elect wayne bennett said yesterday in the hague that us soybean producers were confident the tax would be rejected
however the new report went largely unnoticed by financial markets since such a downward revision in the deficit is a monthly occurrence the washington post said by law the department must first publish what a top commerce official agreed are misleading trade figures and then wait 48 hours before putting out the more accurate ones no one was immediately available at the commerce department for comment on the washington post report
atlantic said it originally announced its intention to acquire centurion located in los angeles on feb 23 1987
tennant bryant said his family would not sell its controlling share block so it would be impossible for an investor group led by giant group ltd to gain control of the company
but despite a healthy balance of payments surplus and a gradual improvement in industrial productivity the french franc was forced by speculators in january into a humiliating three pct devaluation against the west german mark its second since chirac took power
ldbrinkman ldbc chief cuts cenergy crg stake
west german planting intentions this year are put at 381000 hectares down from 390500 ha last year he said adding that the 1980 1985 average was 405000 ha
qtly div nine cts vs eight cts prior qtr pay 20 april record 3 april
charter federal chfd jefferson to merge
usda estimates australia wheat crop
farmers enrolled 1894764 acres of corn base acreage in the conservation program to take advantage of a corn bonus rental payment that was offered by the usda which may underpin new crop futures they said
london eurodollar bonds close lower
the group had said in a march 10 filing announcing acquisition of 54 pct of the firms stock that it might consider seeking control of the company
ceasars world files suit against martin sosnoff and mts acquisition on tender offer
total revenue was eight pct lower in 1986 at 797 billion guilders vs 87 billion guilders in 1985
retail prices rose an average of 881 pct in 1986 while industrial producer prices rose by 706 pct the banks data showed
production in the machine building sector a priority in moscows plans for economic renewal recovered slightly in february but was still 36 pct lower in the first two months of the year compared with the same period of 1986
american variety international inc nine mths
yesterday statistics canada reported gross domestic product expanded a slight 02 pct in the quarter
the selling concession is 1 1 2 pct while management and underwriting each pay 1 2 pct
western mining corp holdings ltd wmngs wmc said it sold its entire holding of 2213 mln shares in the gold mining company australian consolidated minerals ltd acm wmc gave no details but stockbrokers said the sale was made at eight dlrs a share on friday to a number of us european and australian investors through wmcs usual brokers
however major tax payments by banks on behalf of customers drew to a close this week lessening the need for liquidity
production has also been seriously affected in recent years by equipment breakdowns deteriorating ore and shortages of spare parts fuel and lubricants
results include after tax gains of 567000 for both 1986 periods vs loss of 45000 for prior periods on disposal of discontinued operations
rossignol unit buys canadian ski boot maker
mfs managed muncipal bond trust sets payout
computer microfilm comi sees higher 1987 net
it is searching for the mechanisms to exercise indirect controls he said
of this central government debt sales to the public sector were expansionary by 400 mln stg after a 13 billion expansion in january the bank said
willis fabers stake in morgan grenfell has been a very successful investment it said
several dealers said the central bank intervened this afternoon when the dollar stood around 149 yen
sulpetro ltd 1st qtr jan 31 loss
gold was fixed this morning in london at 41130 dlrs
the issue is guaranteed by the kyowa bank ltd
the loan was approved by the korean finance ministry because it is for use outside korea and will not raise the countrys indebtedness he said
cnt also said sand technology systems inc of canada bought two of its channelink networking units for a data processing service for major health care facilities in canada
x includes imports
miyazawa would not say what specific measures major nations would take but told reporters the measures had been discussed in paris
the bulk list prices for diphenyl oxide in both technical and refined grades will be raised five pct to 126 dlrs per pound for technical and 136 dlrs per for refined dow said
many consumers are holding off waiting for the best time to buy
he estimated that 33 pct of the companys shares were in foreign hands
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
aerospace revenues were sharply higher in this years first quarter from a year ago mainly because of the inclusion of rcas aerospace and defense business the company said
walt disney increases eurobond to 75 mln aust dlrs
central bank governor chang chi cheng said last week washingtons pressure plus rising foreign exchange reserves meant a further strengthening in the currency is inevitable
the bundesbank shortened the reporting period to two weeks from four weeks last july
corn acreage will probably level at around 65 mln acres as long as government program provisions remain the same analysts said
the central bank has issued 12 billion taiwan dlrs worth of one and two year savings bonds to help curb the growth of m 1b money supply a bank spokesman said
powell who said he has already spent 609831 dlrs on his qed stock said he plans to buy more shares as long as he considers them to be undervalued
european community commission president jacques delors called for a swift convening of a meeting of the g 7 countries following the instability in todays trading on world money and stock markets
lets face it
automation and incentives tied to profit sharing have been used with success he said
wti up to 1750 dlrs
it said these reserves did not disappear but are available to produce as prices recover
analysts have said they are baffled by the strength of tafts stock price compared to what they see as breakup values for the company
the soviets want a new sugar pact to have only a single category of members who would all share the costs pro rata to their share of world sugar trade
but it said it still believes a twa usair combination would create certain synergies that would be mutually beneficial to both carriers twa stressed that it reserved the right to revive its takeover attempt and said it may continue to explore the feasibility and strategies of gaining control of usair
the january surplus last year was 119 billion dlrs
henry said the company recovered from the sales the cost of buying enron chemicals in the fourth quarter last year
brooklyn union said the gas from shell oil will replace about 25 pct of the gas previously supplied by transco energy incs e transcontinental gas pipe line corp subsidiary
many independent forecasters have revised down 1987 predictions in light of the downturn in exports
this could especially affect trees in west malaysia during april june while in east malaysia the impact will be in february april and july dec and in indonesia july sept
foreign investment in australia jumps in last qtr
baker said yesterday the concept of debt relief was misguided
the new method was first used for the january figures which showed unemployment dropping to 21 pct of the workforce from 27 pct old style in december but wessberg said the change had apparently not been noticed by the press
dow chemical co dow regular dividend
we took a bet that the freeing of prices would not provoke runaway rises and it is not absolutely certain that bet has been lost one oecd official commented
bank of ireland also said it has appointed bzw as sole dealer on a separate 100 mln stg certificate of deposit program
the company said however it substantially restructured its business reducing borrowings on an outstanding credit line to 165 mln dlrs in 1986 from 57 mln dlrs a year ago
knox said the world bank supported the economic stabilisation programme adopted by president victor paz estenssoro
the transaction was approved by the us bankruptcy judge in denver who is hearing kaiser steels chapter 11 reorganization case
in a filing with the securities and exchange commission the group which includes ingemar rydin industritillbehor ab the firm and investor erik martin vik said it bought the additional shares between feb 24 and march 9
us commercial banks are expected to receive finance ministry approval in late april to operate securities subsidiaries in japan us bank officials said
wesbanco wsbco acquiring bank of sissonville
corn export guesses ranged from 270 mln to 320 mln bushels compared with the 276 mln inspected last week and 205 mln a year ago
western emergency an environmental services firm has annual sales of between one and two mln dlrs compared to international technologys roughly 240 mln dlr annual sales a spokesman for international technology said
sas unit skanska in china hotel joint venture
belgian finance minister mark eyskens who will host the informal talks told the ministers and central bank chiefs would discuss the situation on currency markets in the light of the february agreement among leading industrialised countries to stabilise exchange rates around present levels
exports totalled 24 billion taka in october as against 258 billion in september and 229 billion in october 1985
kentucky central kencao unit sells stations
last year japan racked up a 515 billion dlr surplus with the united states and economists said they do not see it falling significantly any time soon
that compares with 106200 tonnes shipped in the prior week
fed seen buying dollars for yen in open market
the acquisitions will be converted to pizza hut restaurants said national pizza and are expected to generate annual sales of approximately eight mln dlrs
kuwait said seeking foreign protection for oil
he also said an investment banker repesenting him met with myers officers telling them of his plans for a takeover and that he may solicit proxies for a seat on myers board
the rate on the key three month cds in the primary market was 408 00 pct while the banks bid was 375 pct they said
the issues are 12 billion dlrs maturing april 25 1989 635 mln dlrs maturing april 27 1992 and 300 mln dlrs maturing april 25 1994
several preliminary contacts with representatives of caesars have not resulted in any indication that it wishes to enter into such negotiations sosnoff said
qtr ended jan 31 shr loss nine cts vs profit 13 cts net loss 231256 vs profit 341730 revs 2793677 vs 3676296
avery said its board authorizerd a two for one stock split an increased in the quarterly dividend and plans to offer four mln shares of common stock
nbi inc nbi 1st qtr loss
ghiringhelli also said the bank planned to convert its representation in london into a subsidiary at the end of this year and further expand activities at its new york subsidiary particularly in private banking
wholesale prices rose 20 pct in the first five months of 1986 while consumer prices rose by 32 pct
contract talks broke off in january and a conciliator has been appointed to try to help settle the dispute
it did not detail second quarter profit
shr 46 cts vs 49 cts net 1101551 vs 831398 note share adjusted for two for one stock split in may 1986
the company said it expects to increase its semiannual dividend 125 pct to six cts per share post split from eight cts pre split
a survey of 17 money market economists produced a forecast of a 600 mln dlr m 1 decline for the week ended june 8 with estimates ranging from a gain of one billion dlrs to a decline of four billion
waste management inc said its wholly owned subsidiary wmx acquisition corp ended its tender offer to buy shares of chemlawn corp at 35 dlrs a share
some consumers claimed producer support for the consumer argument was gaining momentum towards the end of the ico session but said it is uncertain whether this will now collapse and how much producers will sink their differences should prices fall further and remain depressed
south africa declared a moratorium on repayments of about 14 billion dlrs of its original 24 billion dlr total foreign debt in september 1985 after foreign bankers abruptly cut off credit lines to the country because of concern over its deteriorating political and economic climate
some dealers said not too much should be read into bakers and yeutters comments
park ohio industries inc pkoh 4th qtr net
in my judgement were not even close to a trade war yeutter told a house agriculture committee hearing
parent company net profit 382 mln francs vs 264 mln
he said the government and the consultative group would meet annually to gauge financing needs for each year
although i can sympathise its occurred for only a few weeks or months in japan the tarriffs announced on friday by president reagan will affect about 300 million dlrs worth of products only a tiny fraction of japans total exports to the us even so reagans decision doesnt give us any joy
the us agriculture department projected an average yield of 150 gallons of frozen concentrated orange juice per box 420 degree brix equivalent from floridas 1986 87 crop
peru guerrillas interrupt train route to mines
faced with a belligerent domestic chip industry and an angry american congress the japanese government has been forced to walk an increasingly fine line in the semiconductor dispute trade analysts said
texaco canada inc txc 78 pct owned by texaco inc tx is at 34 7 8 up from a low of 24 1 2
transform logic toog revises results downward
it closed at 18160 70 marks
argentine meat exports during jan feb 1987 totalled 39714 tonnes against 36594 tonnes shipped in the same 1986 period national meat board said
m
the subscription expected to take place in may will give adsteam 49 pct of markheath adsteam said in a statement
in 1986 smithkline earned 5211 mln dlrs or 678 dlrs per share on revenues of 36 billion dlrs
p and c foods inc foodo 3rd qtr net
oil traders in new york said exxon corps exxon usa unit reduced the price it charges contract barge customers for heating oil in new york harbor 075 cent a gallon effective today
i do not see that the accord has been terminated christians said
empi inc empi 4th qtr loss
bank fuer gemeinwirtschaft ag bkfgf cut rates 05 pct generally
ual stock today was up three at 63 in active trading
lead manager is nomura international inc
financing turnover rose by 42 billion marks to 244 billion in 1986
based on fed data out today economists calculated that the two day system repurchase agreements the fed arrranged on tuesday totaled around 59 billion dlrs
the us agriculture department announced the following prevailing world market prices of rice on a loan rate basis with previous prices long grain whole kernels 587 cts per lb vs 570 medium grain whole kernels 528 cts per lb vs 512 short grain whole kernels 522 cts per lb vs 506 broken kernels 294 cts per lb vs 285 the repayment rate for 1986 crop warehouse or farm stored rice loans are the higher of the world price or 50 pct of the loan rate of 720 dlrs per cwt
atlantis agh may bid for charter crellin crtro 
the air force navy and army are in a state of alert general guven ergenc secretary general of the turkish general staff told a news conference
boone pickens in january diamond shamrock said it would spinoff its refining and marketing operation into diamond shamrock refining and marketing co before its april 30 annual meeting
mw ward holds 62 pct voting interest
france will fight ec farm proposals minister
municipal assistance corp of new york said its planned offering later this week of 670 mln dlrs of series 62 bonds would probably be the last time it taps the market until the third quarter
if everything continues on schedule work on the ft
boston five said the planned merger with newworld bank for savings will create the largest savings bank in massachusetts and the third largest in new england with combined assets of 31 billion dlrs
fluor said its applied engineering co unit will construct 28 modular sections and deliver them to ges waterford ny silicone products division plant
he said sprint currently does not have access to mexico but was working on it
brazil on february 20 suspended indefinitely interest payments on 68 billion dlrs owed to commercial banks followed last week by a freeze on bank and trade credit lines deposited by foreign banks and institutions worth some 15 billion dlrs
madagascar negotiating 180 mln franc french loan
great american said regulatory authorities are not requiring an adjustment of the previously reported financial results for great american for 1986
the electrolytic refining and smelting co of australia pty ltd said it lowered its ex works port kembla refinery copper price by 20 dlrs to 2160 dlrs a tonne effective today
the ratings include aa3 rated first and refunding mortgage bonds secured pollution control revenue bonds and eurobonds
he said the ec needed a set of indicators of economic convergence betwen community countries and it was important that interest rates fulfilled this role together with exchange rates and inflation rates
if they want to expand us exports the last thing they want to do is hit the makers of the final products because that hurts the final market edwards said
sumita said the currency market has been reacting to overseas statements and to trade tension between japan and the us over semiconductors
shr one ct vs three cts net 66922 vs 194531 rev 42 mln vs 57 mln nine months shr two cts vs four cts net 93802 vs 260702 rev 101 mln vs 132 mln note nine months 1987 period includes gain of 196043 dlrs from sale of meston lake resources shares and a credit of 127000 dlrs from a favroable settlement of s state income tax assessment
the initiative will have to rest with the indonesian government
total dutch imports of cocoa beans rose to 17978 tonnes in january from 13961 in january 1986 while exports fell to 1852 tonnes from 3111 the central bureau of statistics said
the united states which until recently has been reluctant to criticize japans fiscal stance joined in the attack he said
stuarts department stores stus 4th qtr net
however even a 21 dlr per bag rise in the contribution quota would make brazil coffees uncompetitive on world markets and an increase to around 15 dlrs a bag is more likely the exporters said
gkn plc gknll 1986 year
oper shr 49 cts vs 47 cts oper net 1475000 vs 1474000 revs 858 mln vs 906 mln note current shr and net exclude extraordinary loss of 3413000 dlrs or 113 dlrs shares versus extraordinary loss of 63000 dlrs or two cts share in prior year
however the banks are now prepared to consider taking the stake if they find an investor willing to inject six to seven mln dlrs in the company but not take control the banking sources said
they were commenting on a weekend jakarta report quoting a ministry of trade spokesman as saying indonesia had not issued licences to import the commodity
the split is subject to approval of the increase in authorized common shares it said
xuto said there is nothing concrete yet but the atmosphere is good the discussions are expected to continue late into the night and xuto said he may hold weekend meetings
machinea leaves for new york tomorrow with treasury secretary mario brodersohn to complete argentinas team at negotiations with the steering committee for a 215 biilion dlr loan to see the country through 1987
by separating the execution of wholesale trades from the heavy volume of smaller lots large scale transactions will be facilitated the company said
he added that the rrim was aware of the disease outbreak in sri lanka and was monitoring the situation
lupberger told the analysts that the companys primary objective is to create financial strength enough strength so that what happened to us and our stockholders over the past couple of years never happens again the company has faced regulatory challenges to rates proposed to cover the cost of its grand gulf nuclear plant
ccc wheat credit guarantees for north yemen
in a filing with the securities and exchange commission soros said his group bought a net 498800 king world common shares between jan 8 and march 6 at prices ranging fropm 18924 to 21203 dlrs a share
fewer shrs outstanding
payment date is april 14
the december unadjusted surplus was revised down from a provisional 82 billion
but despite promising indications of large reserves no commercial production plans have yet been announced
reserve bank governor gerhard de kock said the agreement was a good deal both for south africa and the banks
industrial equity pacific ltd told the securities and exchange commission it has acquired 72600 shares of mcgill manufacturing co inc or 51 pct of the total outstanding common stock
cocoa delegates optimistic on buffer stock rules
he predicted that prices would recover again in the third and fourth quarters of 1987
the coupon rate was 775 pct on the issue
in pesticides and in animal health care products agrimont maintained its previous level of revenues and market share in 1986 montedison said
producers also wanted a free rubber market without the overhang of a 360000 tonne inra buffer stock which had psychologically prevented price rises he said
aydin corp said it has received a five year 54 mln dlr contract from the us air force for production of nine an mst t1a multiple threat emitter system ground based emitter simulators
dune resources ltd said its oil reserves increased 225 pct during 1986 while its natural gas reserves were up six pct
rohm and haas co roh 3rd qtr net
bamberger has sold a total of 600000 shares and received net proceeds of about 48 mln dlrs since the february 1987 offering
north hills nohl gets construction funding
diplomats noted however iran was also seeking to avoid ostracism by arab states due to meet at a summit in amman on november 8 and discuss the iran iraq war
it also announced a number of measures to ease hardship including higher pensions and family allowances
atcor atco cuts dividend
some 30 billion marks is likely to leave the market this month with the bulk being paid out next week
shearson lehman brothers inc said it has sold a new type of certificate of deposit designed to provide top rated japanese banks with broader access to the us money markets
two house republicans representatives larry craig of idaho and beau bolter of texas have introduced the bill
guinness shares were trading at 323p after the announcement after closing yesterday at 317p
the company also said the system will tracks each piece of warranty glass distributed by chrysler
more pressure urged for asia to take us beef
japan has stopped dumping chips in the us but it has failed to open its domestic markets to us made chips and has failed to end predatory pricing in third world countries undercutting us products he said
first data management fdmco completes merger
it will be open for signature from may 1 to december 31 this year
the private research body also said in a statement that 437 of the 1084 firms listed on the first section of the tokyo stock exchange foresee an 116 pct fall in sales in the year against an 114 pct fall estimated last november
us sugar policy may self destruct congressman
central bank governor francisco gros said after a meeting with a 14 bank advisory committee that brazil cannot make any interest payments at this time though it would do so as soon as we can the talks came as the annual meeting of the 44 nation inter american development bank iadb in which both gros and the bankers had been taking part moved toward a close here
the loss also includes 214 mln dlrs in accumulated foreign exchange losses the company said
the pact also allows a three month extension if warranted and limits the obligation of the new company to give financial support to the businesses to be divested pending their sale
bulgaria romania grain crop seen less favorable
it would complement the present system of opening or closing the monetary screws based on the pattern of inflation key indicators such as unemployment and the rise or fall of the money supply
uk delegates talk of stabilisation and the need for prices to reflect changes in market structure and price trends rather than dictate what prices should be
president leon febres cordero on friday estimated total damage caused by the quake at one billion dlrs and said that as a result ecuador would maintain januarys suspension of interest payments on its foreign commercial bank debt
philip morris mo oscar mayer sets redemption
reid ashman reas to divest test product unit
hutchison whampoa ltd hwhhh announced a bonus issue of one new b share of 25 hk cents each for every two existing ordinary shares of 25 cents a share par value
brent walker shares firmed sharply on the announcement to 385p from 353p at fridays close while lonrho also firmed to 275p from 2655p
our estimates at the council of economic advisers suggest national net output of goods and services will permanently increase by approximately two pct because of the long run consequences of tax reform sprinkel said
mcgrath rentcorp said as a result of its december acquisition of space co it expects earnings per share in 1987 of 115 to 130 dlrs per share up from 70 cts in 1986
the poll was taken after the budget which was greeted enthusiastically by financial markets but seems to have left the voters indifferent political observers said
the sanctions will end all military cooperation and cut economic aid
the international tin council itc intervened in a high court hearing in an attempt to prevent the presentation of internal council documents as evidence
gaf had offered 46 dlrs per share previously
the selling concession is 1 1 2 pct while management and underwriting combined pays 3 4 pct
overall prices fell as much as a point with the benchmark canada 9 1 2 pct of 2001 at 106 3 8 5 8 the 8 1 4 pct of 1997 at 99 99 1 4 and the 8 1 2 pct of 2011 at 98 1 8 3 8
hyman delivering a speech at the annual shareholders meeting said international tanker markets were generally weak throughout the first quarter but since the end of march opec oil production has picked up
there has been a lot of talking and loud thinking business leaders said the 17 year rescheduling of commercial bank debt would give president corazon aquino some badly needed breathing space but warned her government was still in the midst of political consolidation
whale securities recommends buying the stock harlow said
an agency spokesman said this is a device that airlines use to get majority control of a company it is trying to acquire while their application before the government is pending approval
it did not say what oth us warships were in the area
at the end of two months he added i can say we are off to a good start for 1987
the 1987 loan rate is too high relative to corn and is encouraging an expansion of soybean production in south america he said
robert m
robert bruce bruc downgraded by s p
it said completion is expected by july 31
if we have a thrust for the coming years it is probably best to spend more time on life in the uk and abroad he said
sundor group buys dwg dwg units assets
he told the sale price was around 2895 pesetas per kilo but that the final quantity and delivery date has not yet been set
gold reserves were unchanged at 21845 billion francs
lusinchi said the 203 billion dlr debt rescheduling signed feb
the pay dispute went before a hearing of the arbitration commission today
the student loan marketing association sallie mae announced an offering of 100 mln dlrs of three year fixed rate notes redeemable at maturity in the us dollar equivalent of 1452 mln australian dlrs
it was unclear whether the gao congress investigative arm would stick by its original analysis that it costs the government more to use certificates instead of cash in farm price and income support programs reagan administration sources said
new world pictures ltd said it sold 456900 shares or about five pct of taft broadcasting co common stock for a gain of 178 mln dlrs
m 1 has hit an air pocket of weakness said bill sullivan of dean witter reynolds inc
manufacture of the 911 and 928 models rose six pct to 11122 from 10533 units but production of 924 and 944 models was cut by 12 pct to 14754 units from 16848 and would be cut further the report said
long term deposits of several of the parents banks were reduced to aa minus from aa but short term deposit ratings were left at a 1 plus
under terms of the deal comsat paid holiday 25 mln dlrs in cash and assumed half of the ventures 50 mln dlrs of outstanding debt the companys said
us march non farm payroll employment rose 164000 less than the gain of 220000 to 290000 the financial markets expected
there is normally no third quarter production in cuba but a hurricane meant that last years crop was extended
sales of the division which had been purchased by holt rinehart from cbs peaked at about 10 mln dlrs in 1985 mindscape said
hackmann said the stocks report was positive for the long term but we still have a long way to go to bring stocks down to where we could start rebuilding prices frazier also cautioned that the soybean acreage report could prompt farmers to change their plans and plant more soybeans
shr 30 cts vs 53 cts net 868000 vs 728000 revs 7300000 vs 6500000 avg shrs 3000000 vs 750000
the pacific coast council has recommended acceptance of that proposal by membership todd said
the declines were a result of the tax reform act of 1986
the atmosphere is excellent other delegates said the buffer stock might not be operational by monday but could be in place by around april 1 if the rules are agreed by friday
teck to increase stake in trilogy resource
international clinical laboratories inc iclb 
a special meeting of the international coffee organization ico council failed to agree on how to set coffee export quotas ico delegates said
this situation will be difficult to duplicate in 1987 and beyond because no significant new investments are being made the report said
as long as the groups stake remains below five pct it is not required to disclose further dealings in material sciences common stock
japanese crushers bought 2000 tonnes of canadian rapeseed in export business overnight for may shipment trade sources said
the seamens leaders say their strike has halted 48 of the 72 ships belonging to the state oil company petrobras
canbra foods ltd earlier reporting a 1986 net profit against a year ago loss said it declared a special one time dividend of five dlrs per common share pay march 31 record march 26
general partners in gencorp gy proxy fight
in 1987 private consumption was expected to slow somewhat to a 225 pct growth rate but should still outstrip overall gdp it added
japan business leaders say g 7 accord worrying
in the circumstances the government had only a slim chance of producing a meaningful economic package in the near future dai ichi kangyos tanaka said
they said ali ibrahim rubaishi head of organisation planning in petromin would take over as acting governor
she emphasized however that if some charter arrangement could be worked out it would not supplant the reflagging arrangement that we worked out with the kuwaitis in both cases the ships would be eligible for us navy escort in the gulf she said
divestitures had been expected since lear siegler a diversified conglomerate was acquired last december in a 21 billion dlr leveraged buyout by the wall street firm of forstmann little
shultz not opposed to wheat subsidy to soviets
the governments incentive policies towards the mining and petroleum sectors among its main traditional exports suggested that it did not accord high priority to their economic viability it added
todays one billion stg tap issue was viewed by the market as a move by the bank to eradicate hopes for a further early rate cut which might arise as a result of strong sterling
aluminium consumption growth is not expected to accelerate by as much as general growth but non socialist world consumption is nevertheless forecast to increase sharply from 1377 mln tonnes in 1990 to 1725 mln tonnes in 1995 bird said
under the plan holders of existing common would hold about 15 pct of the restructured common stock
xuto told delegates this session of the conference presented a promising opportunity to conclude a new pact but it had to be the last before the current accord expires in october
prospects for 1987 hung on three uncertainties namely the future trend of the dollar the level of interest rates and abns share of equities trade hazelhoff said
the us agriculture department gave the 1986 87 breakdown of supply and distribution for wheats by classes in mln bushels with comparisons as follows
banks are required to submit proof that their bids are based on valid commercial transactions and the central bank has complained in the past that many are failing to produce the right paperwork within the specified time
republicbank rpt to reclassify brazil loans
shr 18 cts vs 17 cts net 584493 vs 540977 revs 4685930 vs 4524315
the payment date was given as april 24 1987 with denominations at 10000 crowns and listing in luxembourg
however this profit recovery was due less to management skill than the fact that all canadian airlines had a good year in 1986 analysts said
alcoa raising prices of aluminum beverage can stock eight pct
anything above 20 pct is considered high by bankers
if the united states is interested in selling its wheat then they must offer competitive prices and its up to the united states to decide how these competitive prices will be offered he said
he declined to describe what sort of help the saudis were providing saying that saudi officials are reluctant to acknowledge their role in the gulf where the united states has stationed forces to protect shipping lanes
among the main factors maturing assistance and take up of treasury bills will drain 545 mln stg and a rise in note circulation 35 mln stg but the outflow will be offset by 490 mln stg exchequer transactions and bankers balances above target 70 mln
the spokesman replying to queries about press reports said he could not rule out the possibility that the final loss figure may be slightly above this range
followin the acquisition a piosec spokesman said the company has 65 mln shares outstanding
great universal stores plc gusl said it has made an agreed offer for pantherella plc valuing the company at 82 mln stg and each pantherella ordinary share at 205 pence
issues for all of february rose to nearly five billion marks from 36 billion in january
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
damm m
if money growth does not accelerate fed officials concerned that this indicates economic growth is flagging could turn toward easier monetary policy economists said
chanthong pattamapong a commodities trader asked to to draw up the study said if the maize futures market succeeds it may be extended to other commodities perhaps sugar and rubber
shr six cts vs three cts net 152360 vs 94141 revs 4073911 vs 4116333 note full name is international research and development corp
norways boycott although forbidding crude oil shipments to south africa on norwegian owned tankers makes an important exception for ships whose final destination is decided while they are at sea
the non callable bond is available in denominations of 1000 and 10000 canadaian dlrs and will be listed in luxembourg
it was also a sharp 168 pct below the november level it said
sumner redstone president of national amusements inc predicted he can win regulatory approvals to wrap up the 34 billion dlr acquisition of viacom international inc in 60 to 90 days
the record date for the meeting will be april 16 with proxy materials to be sent to shareholders on or before april 20
johnson said the fed supports this pattern of exchange rates and well see if it leads to a convergence in trade
idaho power co ida sets quarterly
the coupon on the 100 mln dlr 15 year convertible eurobond for hokkaido takushoku bank ltd has been set at 1 3 4 pct compared with the indicated two pct joint lead bookrunner yamaichi international europe ltd said
the storm which lashed the huai and yangtze rivers and eastern anhui province left two people dead and 800 others injured
he did not elaborate on the nature of the action nor when it was taken but said that it was in the spirit of the agreement reached by six industrial nations in paris recently
for the year ended december 31 1985 healthcare reported net income of 35 mln dlrs on sales of 544 mln dlrs
mtech said it granted the underwriters an option to buy an additional 1125 mln dlrs in principal amount of the debentures to cover over allotments
canadian seafarers are almost certain to go on strike this spring in a refusal to meet rollbacks in wages and benefits asked for by their employers seafarers international union official roman gralewicz said
tranzonic cos tnz sets quarterly
m
sosnoff said he will be meeting this week with gaming officials in nevada in an effort to expedite the investigatory process required for regulatory approval a process that it already underway in new jersey
by striking accrued but unpaid interest from their accounts earlier than necessary the banks are signalling to brazil their readiness to dig in for a long fight over the terms of the rescheduling agreement regardless of the short term earnings impact banking analysts said
under existing law congress must agree to oil and gas exploration and if it does not act the land will remain a wildlife refuge protected from commercial development
first commercial fcobo to acquire citizens bank
as a member of the general agreement on tariffs and trade gatt india cannot officially support bartering
oper shr profit 180 dlrs vs loss 228 dlrs oper net profit 20480000 vs loss 1318000 revs 254 mln vs 123 mln avg shrs 1135000 vs 576000 note net excludes realized investment gains of 40000 dlrs vs 13000 dlrs
kampuchea says rice crop in 1986 increased
these economies can only be achieved through csr control and management of pioneer sugar it added
beaver creeks two offices will re open as branches of citizens on monday
if our creditors considered retaliation brazil would lose its capacity to export thus would never be able to pay its debt gros said in a news conference
held said that since late 1986 smith barney analysts have spoken about the risk that interest rates could move higher and they continue to believe that an upward bias is likely to persist over the next few months
tunisia buys 150000 tonnes french wheat
ccl industries purchases stake in monobloc
s k i ltd skii 2nd qtr jan 25 net
atlantic richfield co said it has acquired exclusive worldwide rights to the methyl methacrylate technology of texas eastern corps halcon sd group affiliate for undisclosed terms
natural gas prices rose 18 pct after a 42 pct rise in january
rowntree issues convertible eurosterling bond
the coins will be legal tender in belgium but most demand is expected to come from coin collectors
it said its board has instructed management to explore and develop with financial and legal advisors alternative courses of action to maximize shareholder values
the dollars swift fall had raised questions about whether the fed would let short term rates ease
wpp group plc extends its offer for jwt jwt 
south koreas 1987 gnp seen growing nine pct
the possibility that alcoa may be long call options is one factor indicating that supply tightness may worsen in the second quarter traders said
taiwan buys 32000 tonnes of us soybeans
the bank of england said it had invited the discount houses to make an early round of bill offers to help offset a large liquidity shortage in the money market
rigaud said hascos closing at a minimum would affect 280000 to 300000 people
it said total cost to chrysler to buy all of the outstanding stock would be about 367 mln dlrs
willcox said it plans further expansion in the atlanta area
the subcommittee is considering a toned down version of democratic sponsored trade legislation that aims to open foreign markets but which drops last years effort to force president reagan to retaliate with quotas or tariffs
abington savings bank abbko 1st qtr net
the magazine publishes information about emerging technologies and their impact on business
eqk realty investors ekr 4th qtr net
a resumption of full harvesting and assessment of damage is impossible until rains stop and a spell of a week to 10 days of sunshine dries the fields
the steep fall is due to japanese investors cool attitude towards us bonds which had amounted to more than 80 pct of total foreign securities purchased securities houses managers said
these spreads will have to be widened if the dollar is to be stabilized
in sweden beet growth has been delayed although plant population is reported to be regular and good
this could turn into a serious political problem west german trade sources said they believed the one mln tonne offer by the ec sugar industry into intervention would have a neutral market impact overall
new zealand will also not renew an agreement which supports the price of fijian sugar when it expires in march
deputy energy minister fernando santos alvite told a television interviewer that it could possibly take more than a month to repair ecuadors main pipeline linking amazon basin oil fields to the pacific ocean coast
however the tax would lower the rate on jewellery and coins to only five pct from the current 15 pct they said
soybean futures posted strong gains on the chicago board of trade while corn and wheat were mostly higher
the us dollar has declined in value against the yen and european currencies but has changed very little against the currencies of some developing countries such as south korea and taiwan because they are linked to the value of the dollar
the rating agency also upgraded long term debt supported by letters of credit of lead bank citizens fidelity bank to aa plus from a
brazils unilateral moratorium on debt service payments underscored the potential for polarization between bankers and debtor countries s and p said
the repurchase agreement yield compares with the 39375 pct one month commercial bill discount rate today and the 440 pct rate on one month certificates of deposit
oper shr one ct vs three cts oper net 99000 vs 327000 revs 121 mln vs 8800000 avg shrs 155 mln vs 113 mln year oper shr six cts vs 11 cts oper net 841000 vs 956000 revs 441 mln vs 344 mln avg shrs 153 mln vs 8519677 note net excludes tax credits of 299000 dlrs vs 2900000 dlrs in quarter and 809000 dlrs vs 71000 dlrs in year
a recent drillhole east of the current shaft and 600 feet from the reserve boundary intersected three zones grading respectively 0708 ounce per ton over 54 feet at depth of 650 feet 0706 ounce over seven feet at depth of 765 feet and 0418 ounce over one foot at depth of 1000 feet
a collapse in sales to the eastern european and oil producing states combined with the effects of the dollars fall mean exports overall are unlikely to rise this year
non callable for two years the debt is rated b 3 by moodys and ccc plus by standard and poors
s p sees dramatic growth for asset backed debt
a higher fed funds rate and firm oil prices precluded the market from breaking out of the trading range the last time the market approached the top of the range singer said
first toronto capital corp said it completed an issue of a five mln dlrs convertible debenture to arcalex bv a dutch corporation that owns 543 pct of first torontos outstanding common shares
last year the west african nation announced that the coffee producer price would stay at 200 cfa francs 65 cents per kilo
this is too small an operation and anyway they will be able to buy shares in france he said
leeds permanent building society is issuing a 50 mln stg offering of notes due april 23 1992 carrying a coupon of 9 1 4 pct and priced at 100 7 8 said barings securities co as lead manager
the mining and smelting group earlier reported 1986 net earnings rose to 1382 mln dlrs from 878 mln in 1985 against analysts forecasts yesterday of 125 mln to27160 mln
the investors involved with merrill include pension funds insurance companies and other institutional investors sources said
scan graphics inc said it has completed a merger with captive venture capital inc in which former shareholders of scan graphics have beome majority shareholders of the merged company and the scan graphics board has been named the board of the merged company
the provision for possible credit losses was 144 mln dlrs in the first quarter compared with 197 mln dlrs last year
the initiative while widely heralded as a good first step toward improving the the growing debt crisis was viewed by some at the imf as a rebuke of previous austerity measures insisted upon by the fund in return for loans
italy is to modify restrictions limiting the amount of lira cash that can be brought in and out of the country the foreign trade ministry said
trade issues straining ecs patience with japan
the issue will be sold in denominations of 5000 dlrs and listed in luxembourg
what we have to offer is our cooperation
the federal home loan mortgage corp adjusted the rates on its short term discount notes as follows maturity rate old rate maturity 33 days 600 pct 600 pct 33 days
period ended may 31 shr 181 dlrs vs 145 dlrs net 113752000 vs 90902000 revs 112 billion vs 120 billion note full name is general public utilities corp
metromail mtml sees flat year net
smithkline beckman corp skb 3rd qtr net
world bank says s
a customer may choose only one program it said
new dutch advances total 65 billion guilders
it would also be a further step in commerzbanks full entry into global investment banking around the clock
one of the strike leaders elmano barbosa said it is a psychological war
datrons officers hold about 73 pct of the total 896000 datron common shares outstanding it said
money market dealers said the rate for the new advances was in line with expectations
a caesars spokesman said the company would not comment further on its decision
shr 817 dlrs vs 55 cts net 677 mln vs 45 mln revs 367 billion vs 354 billion year shr 1219 dlrs vs 2400 dlrs net 1011 mln vs 1990 mln revs 1433 billion vs 1335 billion note 90 pct owned by ford motor co f
the newspaper said the inter agency government study found a serious oil dependency problem due to steadily falling domestic production and rising demand for imported oil
it said the three way merger would serve the best interests of the shareholders of all three companies employees and consumers
as a result dome adopted current prices and costs and a 10 pct discount factor in the calculations which substantially conform with accounting rules prescribed by the us securities and exchange commission the company said
cathays six month turnover rose 198 pct from year earlier levels but profits rose 69 pct
congressmen urge us soybean program changes
thomas melzer st louis federal reserve bank president favored some tightening of reserve conditions
rep
manny moe and jack inc said its board declared a three for one stock split and raised the quarterly dividend to six cts presplit from 5 1 2 cts
sprinkel said the recent recovery of domestic demand in japan and europe has been one of the weakest in the post war period
feds heller says monetary growth to be slower
arklas pipeline division arkla energy resources currently delivers all of the natural gas consumed at the two mills
gelco corp of minnesota decided to sell gelco express ltd as part of its previously announced program to sell off four operating units to buy back shares and pay down debt gelco express marketing vice president james oneil told 
the 19 mln acres on corn is certainly disappointing he added
commercial credit co said its american health and life insurance co sold its ordinary life insurance business to american national insurance co anat american national will assume the business no later than august 31 1987 commercial credit said
stoltenberg said west germany had a keen interest in a swift agreement between the us and japan concerning the current trade dispute over semi conductors
the new rules take effect immediately
rocky mount undergarment rmuc 4th qtr loss
the planned spending for exploration and production in 1987 remains well below the 11 billion dlrs spent in 1985 unocal said
finance for danish industry is issuing a 300 mln danish crown eurobond due april 23 1992 paying 11 3 8 pct and priced at 100 1 4 pct lead manager privatbanken ltd said
the company recorded net income of 732000 dlrs or 22 cts per share on revenues of 102 mln dlrs
a bid by san miguel corp smc sanmmn to buy back 381 mln sequestered shares from united coconut planters bank ucpb has been hit by two new lawsuits sources in the philippine food and brewery company said
it was one of the four swedish banks which last month agreed to advance the group 110 mln crowns to solve its immediate liquidity problems
deutsche agrees full takeover of former eurasbank
the bank of zambia has paid out foreign exchange arrears from three auctions conducted last year a bank spokesman said
final div 7p making 12p vs 10p
in a summary of its weather and crop bulletin the agency said scattered showers continued throughout transvaal but dry pockets persisted in the northeast and south
it was fixed higher at 2924 marks after yesterdays 2910
plunging tokyo stock prices will prevent the bank of japan from raising its discount rate and could even force it to ease monetary policy if the collapse continues government and private economists said
the federal statistics office said earlier this week that february import prices fell 07 pct against january while export prices were unchanged
oesterreichische kontrollbank ags 100 mln canadian dlrs of nine pct guaranteed eurobonds due 1997
tseng posted first quarter 1986 sales of 549950 and net income of 19163 the company said
analysts said fitness clubs will likely flourish if the public stays at its peak of health consciousness but that overcapacity is likely to occur as consumer enthusiasm wanes
in the netherlands real gdp growth will also slip to 15 pct this year and one pct in 1988 with dutch exports becoming less competitive and imports rising
shr figures after preferred dividend requirements
goodyear said the previously announced acquisition by loral is expected to be completed march 13
warburg already owns about 26 pct of symbion
that showed the pact involved multilateral cooperation by central banks to foster currency stability they said
indonesias current account deficit is projected by the government to fall to 264 billion dlrs in the coming financial year which starts on april 1 from an estimated 41 billion in 1986 87
non callable for life the issue is rated aaa by moodys investors service inc and aa by standard and poors corp
waste management inc said it amended its offer to buy the outstanding shares of chemlawn corp to 35 dlrs a share
lilco also said its board authorized contracts for its corporate officers calling for payment of one years salary and continuation of insurance and retirement benefits if the company changes hands and these officers lose their jobs
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
oper shr profit two cts vs loss 19 cts oper net profit 523000 vs loss 22 mln revs 1025 mln vs 399 mln 12 mths oper shr profit 11 cts vs loss 29 cts oper net profit 22 mln vs loss 29 mln revs 3044 mln vs 503 mln note all 1986 and last two months of 1985 include results of nico inc acquired oct 1985
they said the countrys total import bill both commercial and other imports was expected to reach 27 billion dlrs in the new year compared with 24 billion dlrs in 1986 87
if the united states uses this as proof of dumping we will present our rebuttal he said
electro sensors inc said its board voted an extraordinary cash dividend on its common stock of 10 cts a share payable may 15 record april 30
shr 13 cts vs 50 cts net 651397 vs 2602120 revs 264 mln vs 216 mln note 1986 net includes gain 291027 dlr gain from quantity discount rebates on purchases of materials in prior years
they said they believed the tonnage would be around 60000 but declined to give a rebate figure
the united states said it was doing what it could to ease tension in the aegean as greek and turkish warships headed for a possible clash over oil drilling rights on the seas continental shelf
deutsche bank chief says louvre pact still intact
lamson and sessions co lms 4th qtr loss
the deal is subject to approval by allis chalmers annual meeting company officials said
g 7 issues statement after meeting
retailers advanced 30 pct less in the latest three months than in the previous three months it said
federal co fff sets regular payout
the us unit of nomura securities co ltd of japan acting as sole underwriter won in competitive bidding 250 mln dlrs of extendible notes of general electric credit corp a subsidiary of general electric co ge the rockwell deal is daiwas second as lead underwriter
shr 62 cts vs 26 cts net 2312000 vs 944000 note 1987 includes five ct shr charge from loan loss provision
the strike caused cominco to declare force majeire which means the company may not be able to honor contracts for products from the smelter and mine
mining is monopolised by zccm and accounts for about 90 pct of the countrys foreign exchange earnings
qtly div 45 cts vs 45 cts prior pay may 15 record april 24
the un common fund for commodities with a planned directly contributed capital of 470 mln dlrs has failed to become operational because neither the us nor the soviet union has ratified it
without the merger hughes tools current ratings of b plus for senior debt b minus for subordinated debt and c for commercial paper would be affirmed s and p said
the discussions from april six to 10 will be wide ranging touching everything from interest rates to the impact of development loans on the environment according to monetary sources
magellan petroleum corp mpet 3rd qtr jan 31
this brings the banks total help today to 571 mln stg and compares with its estimate of the deficit in the system which was earlier revised down to 110 billion stg from 115 billion
despite official denials some traders still feel the us would countenance a lower dollar to help trim the nations trade deficit
northwest teleproductions nwtlo 4th qtr net
mac said in defence documents that ward was the main negotiator in the battle for distillers against rival bidder argyll aylll group plc
related to this matter of trade imbalance the point that i found to be of great cause for alarm during this trip to europe was the excessive degree of hope placed by the europeans in the results of the maekawa report he said
a ec committee of national experts in the so called oil supply group would discuss gulf oil supplies at their bi annual meeting on june 19 he said
citibanks oslo treasury head bjoern sejerstad told citibank one of seven foreign bank subsidiaries operating in norway lost money because of restructuring for investment banking away from commercial banking and an economic slump in norway following last years plunge in oil prices
on the lloyds insurance market lawson said he planned to change the tax treatment of lloyds syndicates bringing it into line with that of provisions for outstanding liabilities made by ordinary insurance companies and of comparable provisions made by financial traders
the bank of england will be loathe to take any action which it will have to reverse later jeffrey said though he added a further half point cut was quite possible in the near future
he noted that the tap system allows a more clearly defined lock up period as each tranche has a specific maturity
the board received opinions on the offer from its advisors first boston corp and goldman sachs and co
with japanese insurers eager to issue more bonds through overseas financing companies chiyodas rating will stimulate their interest in using the us agencies the analysts said
the market doesnt see this as a real crisis yet economist jorge braga de macedo told 
but takeover speculation has escalated and wall street has been busy calculating break up values well in excess of 100 dlrs per share
after the offering reebok will have 561 mln shares shares outstanding
the debenture will bear an increasing rate of interest over its term with a 73 pct weighted average rate and will be convertible into national computer common stock at 20 dlrs a share it said
the sun pat british grocery concern increased profit and rowntrees small health food business holgates raised earnings 10 fold the statement said
feds johnson warns against lower dollar
investor mulls kappa kpa radiation rads merger
reichhold chemicals inc said it is exploring the sale of its stake in its european subsidiary reichhold chemie ag
general mills gis sees strong 4th qtr results
owens corning ocf completes sale of plants
bryan herrmann who will retain his title of president of the parent group and assume the title of vice chairman of the parent the company said
gte gte files auction preferred share offer
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
between that date and the end of last year some 430 mln dlrs flowed into the country on new foreign currency loans
central bank president jose luis machinea said argentina may not receive the 215 billion dlrs in bank loans it is seeking until september which would be a year after negotiations began with the international monetary fund
opec output in may seen over ceiling at 17 mln bpd london june 1 opecs may output appears to have risen well above its 158 mln bpd ceiling to 17 mln bpd and the increase is likely to put a short term lid on spot oil prices kleinwort grieveson securities says
the amount of these credit lines totals 15 billion dlrs and deadline for payment is set for march 31
the mood in the us is turning increasingly protectionist and the ecs actions are fueling the chances of a trade war he added
unadjusted january unemployment totalled 182 mln people up from 161 mln in december and 165 mln a year earlier
the crude materials index rose 18 pct in february after a 29 pct rise in january
nsa added that for shareholders with less than 600 shares it is offering to purchase their shares for cash at one dlr per share
but it warned that the key to an improvement in the economy was higher domestic demand which is only forecast to rise by 25 pct this year and 275 pct in 1988 below 1986s 37 pct
the bank has revised its estimate of the liquidity shortage in the market down to 250 mln stg from 300 mln initially
agency rent a car inc said its board declared a five pct stock dividend payable may 22 to holders of record on may 8
magellan said it will be the surviving corporation following the merger
quarter is companys first full quarter of earnings
bank of france foreign assets rise latest week
it has said it bought its france fund stake for investment purposes only
the 140 yen level is key for the dollar because it is considered to be the lower end of the reference range
the package was expected in april but debate on the budget has been delayed by an opposition boycott of parliamentary business over the proposed introduction of a sales tax
businessmen said they hope the government also will cut the corporate tax now between 45 and 48 pct to enable malaysia to compete for investors with neighbouring states
interest will be paid annually on april 7 and the bond matures on the same day in 1997
retail clients just dont want to know about the floaters any more so it has degenerated to a wily pass the parcel among the professionals all scheming to sweep the paper under the carpet another senior frn trader said
us lawmakers support gulf action
conseco had 1986 operating earnings of 4968000 dlrs on revenues of 849 mln dlrs
us energy secretary sees higher oil prices
however warburg securities economist ian harwood said his firm was sharply revising its 1987 current account deficit forecast in the light of the latest data cutting one billion stg off the expected full year total to about 175 billion stg
biotechnology development biod 4th qtr loss
usda releases its official plantings report on march 31
quarto produced about 36 mln short tons of the 243 mln tons produced by north american coal in 1986 nacco said
moodys confirms public service electric peg 
union votes to strike dakota city ibp plant
for the full year it said it earned 284000 dlrs or 10 cts a share up from 271000 dlrs or 10 cts in 1985
shr 61 cts vs 42 cts net 6247000 vs 5587000 rev 654 mln vs 536 mln note 1986 net includes investment gains of 25 cts a share versus six cts a share for 1985 and extraordinary gain of seven cts a share
the bill sets out us trade negotiating objectives for the uruguay round of talks under the general agreement on tariffs and trade
malaysia cut its 510000 bpd target output by 10 pct last september to support opec moves to boost prices and the latest cut would reduce output by 175 pct from 1986s target level
the bonds which yield an effective 766 pct per annum will be listed in luxembourg and will be issued in denominations of 10000 dlrs
the deficit on invisibles was 241 mln dlrs against 242 mln in january and 250 mln in february 1986
chargeoffs of real estate loans rose to 32 mln dlrs or nine pct of total loan chargeoffs and the bank said the amount could go higher
us conservation figures seen neutral bearish
insee which from january changed its base year to 1980 from 1970 originally had december output down 22 pct on november using the old base year
venezuela will lend ecuador 50000 barrels per day of crude oil over the next few months to help it meet its export commitments energy and mines minister arturo hernandez grisanti said today
tass denounces us attack on iran as adventurism
the acquisition was contingent on its ability to obtain financing to fund the 19 mln dlr cash portion of the purchase price intercare said
there is a 1 1 4 pct selling concession and 5 8 pct combined management and underwriting fee
if you really want to expand domestic demand the way to do it is not to raise wages recklessly but to reduce commodity prices bumpei otsuki president of the japan federation of employers associations told a recent press conference
iran said to test fire silkworm missile in hormuz
dbs securities singapore pte ltd a subsidiary of the development bank of singapore has applied to the hong kong stock exchange to set up a hong kong stockbroking firm
its 999 pct certain i guarantee you a strike roman gralewicz head of the seafarers canadian branch has said
he said the marketing ministry has authorised the coffee marketing board to supply his company unipack with 24000 tonnes of beans a year for processing and export
international american home to acquire cos
shr 66 cts vs 33 cts net 2955000 vs 1563000 revs 261 mln vs 239 mln 12 mths shr 74 cts vs 101 dlrs net 3321000 vs 4739000 revs 1084 mln vs 1049 mln note year 1987 includes charge of 818000 dlrs or 18 cts per share for sale of elisra electronic systems ltd
huh sun yong who will attend the talks with three other seoul government officials told that seoul was positively considering buying a certain amount of alaskan oil beginning this year as part of our governments overall plan to reduce a widening trade gap between the two countries huh said however that south korean refineries considered the alaskan oil economically uncompetitive
british printing alleges the effect will be an enormous increase effective on the june eight record date for the dividend in the number of harcourt common shares issuable upon conversion of the debentures
gordex mineral ltd said geologists located more than one mln short tons of gold bearing deposits 0057 ounces per ton at cape spencer
bankers see sharp rise in thai foreign reserves
western business sources in shanghai said the project involving the construction of 14 km of tunnelled track had been discussed for over 20 years adding it was expected to cost at least 750 mln dlrs
but if interest rates rise it is the homebuyer who has won the benefit of cheap money
du pont co said it agreed to sell its cleveland chemical plant the oldest site currently operated by the company to two employees
such loans currently account for slightly over 20 pct
the index for manufacturing base 1980 fell to 1039 from 1063 and compared with 1023 a year earlier
after the firms recapitalization substantially all of its assets will be pledged to secure bank and other debt totaling 14 billion dlrs
on june 8 research cottrell said it had entered into a definitive agreement to be acquired by r c acquisitions inc for 43 dlrs per share
shr 110 dlrs vs 133 dlrs net 3065000 vs 3730000 sales 2739 mln vs 2410 mln year shr 327 dlrs vs 262 dlrs net 9168000 vs 7338000 sales 107 billion vs 9872 mln note fiscal 1987 net includes tax credits of 10 cts for the fourth quarter and 104 dlrs for the year compared with 43 cts and 85 cts in the respective periods of fiscal 1986
the api reported crude runs 154000 b d higher for the week ended march 13
but stocks are unevenly distributed with about 50 pct held by the us thus the food security prospects in 1987 88 for many developing countries particularly in africa depend crucially on the outcome of this years harvests fao said
it is what the markets think would be the adverse consequences of a trade war he said the administration was concerned that protectionism would lead to international trade problems adding that he thought the action against the japanese was still consistent with this policy
dealers said the strength of the canadian dollar which has firmed especially over the last two days has renewed end investors confidence in the currency
the un centre on transnational corporations has issued a report containing guidelines and recommendations for negotiating natural gas clauses in agreements between transnational petroleum corporations and host countries
but traders said the rumors today did not name buyers
without the usda program it would not have been possible
retail energy prices rose by 03 pct less than januarys 11 pct increase
the refinery has a capacity to process up to 110000 bpd of venezuelan high sulphur content heavy crude with an 80 85 pct yield of white products
proceeds of the continuous offering of the medium term cd notes will be used for general funding purposes of the new york bank
closing is subject to completion of legal formalities derlan 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
he gave no details but bankers say these are expected to be spelled out in the 1987 88 budget possibly in june
it does reduce the banks exposure in energy loans and 54 mln dlrs is a substantial amount archibold said but the deal represents only about four pct of their energy loans of first citys total loan portfolio of 99 mln dlrs about 14 pct or 14 billion dlrs were made to energy producers or suppliers analysts said
tamura corp issues 70 mln swiss franc notes
thai rice exports fall in week to april 7
the paper said abnormal weather conditions had encouraged the spread of wheat midges in 247 mln hectares in shanxi henan sichuan anhui hebei and jiangsu
more as the mark soared against the dollar it also rose against ems currencies less favoured by international investors
baker said that brazilian repreentatives had explained they intented to pay their commercial bank debts in full but needed time
a record fall in unemployment and good manufacturing production data showed that the economy is still strong and does not need a fillip from lower rates
this gave japan a 16 billion dlr trade surplus
italy shows interest in uk new crop wheat
international orders increased with the greatest strength in europe honeywell said
the yield reflected a premium of 91 basis points over that of comparable us treasury issues
taiwan imports more than 90 pct of its soybeans from the us and the rest from south america
it explained it transferred 1100000 dlrs from its undivided profits account to its capital account in order to raise the new par value from two dlrs under the five for one split to 250 dlrs
the hwwa said its forecast assumed the dollar would remain around 180 marks and oil prices would range between 15 and 17 dlrs per barrel
gdp grew in line with the average growth rate since 1980 and the inflation rate was the lowest since 1969 70 according to a government economic survey
however utilicorps missouri public service division is experiencing the effect of a 59 pct rate reduction authorized in september 1986 he noted
qtly 29 1 2 cts vs 29 1 2 cts prior payable june 1 record may 1
japan conducts currency survey of big investors
the indian state trading corporation stc bought three cargoes of rbd palm olein at its vegetable oil import tender yesterday traders said
banking sources said the measure would drain about 200 billion pesetas from the system
the companies are engaged in servicing sales and telemarketing of consumer electronic merchandise
cash grain dealers reported slow country movement of corn and soybeans across the midwest with even corn sales from pik and roll activity seen earlier this week drying up
us brass mill copper stocks fell to 185400 short tons copper content at the end of january from 191200 short tons at the end of december according to the american bureau of metal statistics
mti said consumer goods will also become more expensive with the price of refrigerators rising some five pct
the farm bureau also urged agriculture secretary richard lyng to adjust the loan rate for 1987 crop soybeans as much as he deems possible under the farm bill to keep soybeans competitive in the world market
jardine matheson shares rose 20 cents to 2490 dlrs at midday on the hong kong stock market
yes theres been some bargain hunting but no one dares to be first to come seriously back in said one dealer
he also said that when debtor countries came up with good confidence inspiring policies commercial banks should react with more flexibility in interest structures maturities and rescheduling
the company said the results were in line with its targets for the second year of its three year recovery programme
rha said i hope the leaders can get together to find a solution by making some mutually satisfactory concessions but he added the leaders seem hesitant to make concessions because of domestic political reasons speaking of his own country he said we have made a lot of concessions already he cited regulations permitting foreign investment in industrial firms allowing increased foreign banking activity and cracking down on piracy of intellectual property by strengthening protection of copyrights and patents
norwegian unemployment falls in march
the collection of such a large amount within just one working week is a record for the indian capital market one broker said
bank of new york said the sale is expected to be completed during the second quarter
an investor group headed by members of the wealthy bass family of fort worth texas also holds about 249 pct of tafts common stock
coffee talks failure seen pressuring us 
capital expenditure of about 18 mln dlrs will be required over the life of the new plan rgc said
the current adjusted conversion price is 1149 dlrs a share
thre wallenbergs paid nobel industrier nobl st in which penser group has a 72 pct stake about 20 pct over the market price for the swedish match option the statement said
a joint sat apt statement added that buyers were committed to investing 240 mln francs in cgct research and production plants
lvi group lvi to make acquisition
performance in the first year of the national plan was close to target the minister said
buying by companies that deal in petroleum helped prices recover from early weakness traders said
asamera inc said wholly owned asamera oil us inc concluded the 2525 mln us dlr sale of its denver refinery to total petroleum north america ltd
he added nine other ec states backed an extension
that meeting ended without agreement on new buffer stock rules
at least weve put a floor under the price of the notes
the yen dollar exchange rate has been moving in a narrow range since finance ministers of britain canada france japan the us and west germany reached the accord
marcus corp mrcs 3rd qtr feb five net
shr loss 11 cts loss 739146 revs 11754251 note initial public listing december 1986
officials in east china have repeatedly said stable grain production is a key state policy and outlined the measures being taken in their areas to encourage output
however the sources said ec corn subsidies are probably higher than the us now because of increases since 1984
the world bank has played a prominent part in designing this dramatic blue print and in selling it to an often sceptical public which fears inflation and lower living standards
shr 25 cts vs 19 cts net 687000 vs 514000 sales 207 mln vs 132 mln
excludes fourth quarter and full year 1986 extraordinary gains of 29 cts and 71 cts per share respectively
kiena gold mines ltd said it planned a two for one common stock split pending shareholder approval on april 7
between purolator and interlink in view of a takeover or participation
we thought the trade balance would improve over the year and it certainly looks as if this mornings figure is indicative of that commented economist james donegan at the toronto securities firm of midland doherty ltd
interstate markets will become part of the subsidiarys operations the company said
beall said the recent trend toward cost sharing in the research and development phase of government contracts should not have a major impact on rockwells near term performance
the united states is considering the request to temporarily transfer kuwaiti ships to american registration but such a move could create insurance and other problems the officials said
and we hope to see changes occur in the near future visiting chairman of general motors roger smith said in march
shamrock holdings unit aquires software company
president corazon aquino earlier this month established an arbitration panel to settle a row over the disposal of the shares
baldrige sees us trade deficit starting to decline in feb or march data
the institute assumed an average exchange rate in the year starting april 1 of 150 yen to the dollar
this compared with a net outflow of 351 billion marks in february 1986 the bundesbank said
world bank president barber conable expressed concern that trade protectionism at the heart of a new showdown between the united states and japan might spread throughout the industrial world
analysts said the 530 mln dlrs for 13 pct represents a price of 27 times book value
commodities are also standardized to avoid measurement problems and occur at the beginning of production so as to give early warning signs of wholesale and retail changes
the statement said only that the reduction in total supplies namely actual exports of crude oil and products plus local deliveries in member countries is even more pronounced as those supplies fell very noticeably during that month no matter what the pressure on member countries by lifters to align the official selling price to the ongoing market price member countries are without exception strictly adhering to the official selling price in spite of the financial hardship this may entail the statement said
that decision since followed by chase manhattan and security pacific corp may profoundly alter the strategy of creditors and debtors alike for tackling the debt crisis
brusca said a quarter point prime rate rise to eight pct is justified because the spread between banks cost of funds and the prime rate has narrowed to less than three quarters of a percentage point
medchem products inc mdch 2nd qtr feb 28 net
they said discussions are focusing on conditions for entry into force of the new inra
but it has been far from panicky said another trader
augenthaler said the 43 dlr a share offer or 375 mln dlrs total would be a bargain for union pacific
the un spokesman francois giuliani said perez de cuellar had no comment on the attack taken in response to iranian action against an american owned tanker last week but was trying to find out what actually happened calls to irans un commission elicited no response
holzstoff ag ghozbs 1986 year
strong said figures on the amount of crude production imperial purchases from outside suppliers were not immediately available
plenty of properties are available on the market thanks to the need of many companies to raise cash for debt payments and general restructuring throughout the oilpatch
china bought 6000 tonnes of malaysian refined bleached deodorised palm stearine today for may shipment at prices equivalent to around 270 to 275 dlrs per tonne fob traders said
partnership became public on march 19 1987
mcintyre said it also remains contingently liable for certain obligations now totalling about seven mln dlrs which will reduce over time as smoky river continues to operate
only five of the 37 have been discovered in the past 20 years and only two of these lie outside the middle east cantarell in mexico and alaskas north slope mcivor said
the year on year rise was 1964 pct up from 3583 billion at the end of december 1985
the indians are capable of purchasing a lot of taking care of themselves
this issue of national share was defused on the mexican committee but bankers say it will probably recur in talks with argentina and brazil whose finance minister dilson funaro has already suggested separate negotiations with regional committees of creditors
paydate is april 24 and fees comprise one pct selling concession and 1 2 pct management and underwriting combined
fresh heavy rains caused further damage to the argentine 1986 87 coarse grains crop in the week to yesterday particularly in buenos aires province trade sources said
american motors amo weighs takeover proposal
all of the increase in estimated imports will be in corn usda said
talks between france and iran on the repayment of a one billion dlr loan by the late shah have made progress roland dumas head of a parliamentary foreign affairs committee said
the company said the warrants are exercisable for five years at a purchase price of 125 dlrs per share
pakistan says good economic growth continues
the helicopters will be manufactured in american aircrafts uvalde texas plant it added
mcclellan of merrill lynch research said most software companies are currently valued at about 20 times per share earnings
community savings bank csbn qtly dividend
novamin board to recommend breakwater bwrlf bid
a large trade show in conjunction with the congress will feature the latest in technology in all areas of the industry the nppc added
prior year excludes discontinued operations loss of 14 cts per share in the quarter and loss 18 cts a share in the year
newell co nwl 3rd qtr net
the travelers corps travelers mortgage services said it signed a letter of intent to buy two subsidiaries of the privately held equitable life assurance society of the us the company said it plans to acquire the equitable relocation management corp and the equitable realty network inc
analysts do not expect regulatory hurdles because of the royal dutch shell group precedent
the move follows a similar cut to 92 from 108 dlrs a tonne announced by shell uk ltd friday also fob north sea terminals and effective june 1 until further notice
it said the deal involved news internationals acquisition of a 50 pct stake in the telegraphs trafford park printing ltd subsidiary
the exercise should make our stock more marketable lazo said
millet from buenos aires and rosario rose five per tonne to 140 and birdseed rose 15 to 205 at buenos aires
quaker said the credit line will be used to finance expansion plans
some 257 billion dlrs in bids for six month bills were received including 785 mln dlrs in non competitives
zaires medium and long term public debt in the past few years reached an equivalent of about 100 pct of its gross national product gnp one of the highest such ratios in the world banking sources said
french industrial production fell a seasonally adjusted 198 pct in january after revised unchanged output in december the national statistics institute insee said
dart group corp said it told supermarkets general corp sgl it was flexible on the price it would pay to acquire the company
the company said two holders of 299 mln dlrs of debentures who have already exchanged their holdings for 208 mln common shares and 235 mln dlrs principle amount of notes will resubmit the securities to meet the terms of the current exchange offer
it has said it was talking with other parties about selling its business
oil accounts for up to two thirds of its total exports and up to 60 pct of total revenues
argentine cattle market report
honeywell bull was recently created by cie des machines bull bulppa honeywell inc and nec corp of japan
it said it sees applications in airport security screening devices medical diagnostic imaging systems and quality control devices
final terms will be fixed on march 12
capels skeoch said it gives the foreign exchange markets something to shoot at it is obvious that the government as a member of the group of six has agreed exchange rate bands
clabir corp clg 4th qtr jan 31 net
and they have become highly selective over enterprises eligible for new credit after a run of failures that forced heavy loan loss provisions and ate relentlessly into profits
it has criticised the cuts as too selective
personal income is forecast to rise by 06 to 08 pct compared with no change in january while consumption expenditures are projected to increase 14 to 16 pct reversing most of the two pct drop recorded in january
buoyed by low fuel prices and favourable currency factors cathay pacific airways ltds caphhk 1986 profits are expected to surpass the airlines forecast of one billion hk dlrs stock analysts said
encor energy corp inc year loss
the preferred stock was issued on february 23
wheat was rated 16 pct fair 56 pct good and 28 pct excellent
year to date demand for all petroleum products averaged 1632 mln bpd up 18 pct from 1604 mln in 1986 it said
treasurys baker met west germanys stoltenberg today agreed to support louvre pact
shr loss 30 cts vs loss 44 cts net loss 1135805 vs loss 1461792 sales 3398893 vs 2075260
it said that following a final feasibility study the plant should open in the early 1990s when oil prices are expected to exceed 20 us dlrs per barrel
american soybean producers are confident the proposed european community ec tax on vegetable oils and fats will be rejected but are leaving nothing to chance american soybean association asa president elect wayne bennett said
the insurance broker issued a statement in reply to recent press speculation which it said was in part inaccurate and undesirable willis faber has not received any offers for its stake in morgan grenfell it said adding that an offer would have to be considered on its merits
the rise took the year on year inflation rate to 34 pct in may from 35 pct in april and brought cumulative inflation over the first five months of this year to 20 pct compared with 07 pct for the same period of 1986
imports fell to 768 billion rupees provisional in february from 819 billion final in january and compared with 684 billion in february 1986
the treasury accepted 66 billion dlrs including 19 billion dlrs from the fed and 942 mln dlrs from foreign and international authorities
the federal reserve is expected to refrain from reserve management intervention in the us government securities market economists said
elders ixl ltd elxas says it is happy to leave preferences shares of brewer carling okeefe ltd outstanding after an undisclosed bidder made an offer to acquire all of carlings outstanding preferred stock
american farm bureau opposes farm bill changes
the amount of coffee stored in new york and new orleans warehouses and certified for delivery against the new york coffee c futures totalled 585555 bags as of april 3 compared with 585794 bags the previous week a net decrease of 239 bags the new york coffee sugar and cocoa exchange said
rising demand for us rice may gradually reduce surpluses while a marketing loan should help increase the us share of the world rice market despite sluggish trade this year the us agriculture department said
the company earlier reported 46 pct higher 1986 net profits at 178 billion hk dlrs from a year ago
the company also said a note attached to its earnings concerning a gain in 1986 on certain sales was incorrect and should be disregarded
moodys said it would study the degree of financial risk the acquisition offer represents for gaf
among the main factors affecting liquidity exchequer transactions will add some 985 mln stg to the system today while a fall in note circulation and bankers balances above target will add around 360 mln stg and 110 mln stg respectively
indonesia the worlds second largest producer of palm oil has not issued licences to import the commodity a spokesman for the ministry of trade said
published risk provisions 7363 mln marks vs 2240 mln
president reagan announced the planned tariffs on march 27 after he said that close monitoring of the july 1986 us japanese semiconductor pact convinced us officials that japan was not honoring the agreement
sen
last year the airline was forced to axe 1000 jobs sell some of its assets and cut the number of its flights across the atlantic and to the middle east following the fall in business
shr loss 46 cts vs loss 117 dlrs net loss 4990000 vs loss 128 mln revs 470 mln vs 423 mln year shr loss 308 dlrs vs loss 128 dlrs net loss 337 mln vs loss 133 mln revs 1328 mln vs 1325 mln avg shrs 109 mln vs 104 mln note includes losses of 501000 vs 83000 in qtr and 22 mln vs 83000 in year from equity of 50 pct owned companies
but bank of japan officials said they saw no need to change policy for the moment although one admitted that the central bank may have to rethink its strategy if tokyo stock prices continue to plunge during the rest of the week
the question was a key aspect of the commissions farm price proposals he added
but dealers said the longer term outlook for the dollar remained bearish
first federal delaware agreement extended
a 100 mln dlr euro commercial paper program has been arranged for svenska finans international bv manufacturers hanover ltd said as one of two arranger dealers
he did not say when this would be but added the contracts would not be bound by restrictions imposed during the second round
the house ways and means trade subcommittee unanimously approved a toned down version of legislation designed to toughen us trade laws and wedge open foreign markets to more us goods
henley group said has close to five pct or 79 mln shares of santa fe southern pacific as investment
the agreement will have an eight and one half year term and a fixed interest rate of 613 pct
cocoa buffer stock compromise gaining acceptance
the airline reported provisional net profit rose to 55 billion lire from 48 billion in 1985
dealers said that at this stage it seemed unlikely that the issue announced today would be absorbed by the market as rapidly as last weeks
brazils refusal to accept an imf program a condition set by many banks for new lending meanwhile reflects the view of most latin american governments that equate the fund with recession
pico products inc ppi 2nd qtr jan 31
mexican officials led by finance minister gustavo petricioli signed a 100 mln dlr loan with the inter american development bank to help finance the promotion of foreign tourism
ford motor credit co f is raising 200 mln marks through a five year eurobond with currency warrants attached carrying a coupon of 5 3 4 pct and priced at 116 3 4 lead manager deutsche bank ag said
this was accepted by spains carburos metalicos sa which sold aga six pct of duffour et igons stock and the right of first refusal on the remaining nine pct of stock it holds
iranian oil minister due in algeria on friday
mining output fell one pct in 1986 but manufacturing production increased 14 pct
net 177 mln vs 153 mln note national westminster bank plc subsidiary
what counts is the abandonment rate the difference between acreage planted and acreage harvested
chinas wheat imports in january were 218000 tonnes down from 393000 in january 1986 the china daily business weekly said quoting customs figures
usdas foreign agricultural service administrator thomas kay told dot could owe usda as much as 20 mln dlrs
the eiu said it saw oil prices dropping to around 1650 dlrs a barrel by end 1987 and 1550 dlrs in 1988 from about 18 dlrs last year as adherence to opec output policy becomes increasingly ragged
the bank of england said the issue announced on monday and available for official dealings from this morning was no longer operating as a tap
kansas city southern industries inc said an attempt by santa fe southern pacific co sfx to reopen the proposed merger of the atchison topeka and santa fe railway co and the southern pacific transportation co offers nothing truly new in a letter to shippers kansas city chairman landon rowland stated this proposed merger is plainly anti competitive as found by the icc and urged by the department of justice
shr 16 cts vs 17 cts net 988000 vs 1005000 revs 197 mln vs 164 mln avg shrs 6206487 vs 5959028 six mths shr 31 cts vs 28 cts net 1884000 vs 1662000 revs 375 mln vs 308 mln avg shrs 6168105 vs 5950842
if we can consummate the deal earlier that would be better for all concerned lougee said
shr 31 cts vs 18 cts net 90 mln vs 51 mln sales 158 billion vs 142 billion avg shrs 274 mln vs 269 mln nine mths shr 79 cts vs 42 cts net 233 mln vs 129 mln sales 458 billion vs 422 billion avg shrs 238 mln vs 267 mln note 1987 results include caremark inc from august 3
it said closing is expected by may one subject to regulatory approvals
maki said the us and japan will hold detailed discussions on each trade item as well as a new round of gatt trade talks at a meeting on april 20 in which us trade representative clayton yeutter will join
the federal reserve board said it would release april consumer instalment credit figures on friday
the average exchange rate was 1623 shillings per us dlr last year a fall of only 12 pct from 16432 in 1985
the missouri with its four escort flotilla is likely to make iran think twice about using the missiles diplomats said
snamprogetti built the first methanol refinery on trinidad five years ago
its record low was 14840 in tokyo last tuesday
uk intervention bd says ec sold 60500 tonnes white sugar at rebate 43147 ecus
moodys investors service inc said it downgraded 37 billion dlrs of debt of security pacific corp lead bank security pacific national bank and other units
tenera tlpzv plans to buy back lp units
the spokesman said resorts is not familiar with ksz but that it believes the company is controlled by marvin davis the denver oilman
stone container sto forms credit facility
it said the rate would be in line with the 1986 trends but significantly higher than in the first half of this year
terms were not disclosed
following legal proceedings by private importers lisbons civil court decided in a preliminary ruling earlier this month that epac should not be allowed to take part as it had done in tenders for the liberalised share of annual grain imports
the growth was attributed to the strength of non oil trade especially computers and computer parts electronic components and garments it said
last years crop equalled the second highest ever at 132 mln tonnes
midam sets trading at new cbt location march 30
one quarter or 178 mln dlrs will be paid on signature of the accord expected in late march with the remainder in three more instalments to be made every six months
however the impact from venice will be nothing if nothing changes horner said
independent newspapers ltd inl said it bought two more community newspapers in houston texas through a subsidiary there for an undisclosed sum
earlier unilever reported combined fourth quarter pre tax profit of 276 mln stg level with the year earlier period making 114 billion stg compared with 953 mln for the 1986 full year
sterivet laboratories ltd said the board authorized a three for one split of its outstanding common shares subject shareholder approval at the annual meeting
moodys investors service inc said it may upgrade the ratings on upjohn cos 400 mln dlrs of debt
we will be giving close attention to the processes in the oecd organisation of economic cooperation and development and elsewhere leading to the venice economic summit where we will be looking to the participants to adopt a strong commitment to agricultural trade reform dawkins said
yamamoto said that japan will slash output of 256 kilobit dynamic random access and erasable programmable read only memory chips by 11 pct in the second quarter
its necessary to clarify policy for internal and external reasons he said but declined to say what economic measures might be introduced
i am confident that further improvements in our trade performance will contribute significantly to us growth in 1987 he said
port officials said at least six large vessels in the black sea and 13 in the sea of marmara were waiting for conditions to improve
the tough trade sanctions president reagan imposed on japanese exports are not only a shot across japans bow but also a sign reagan will attack unfair trade practices worldwide us officials said
the tax exemption has helped bolster ethanol production despite a sharp drop in the prices of competing crude oil
weatherford wii suspends preferred payouts
harvesting figures for the week to october 18 are not yet available
earlier the company reported first quarter earnings of 342 mln dlrs or 109 dlrs a share versus 203 mln dlrs or 65 cts a share in last years first quarter
booker plc bokll 1986 year
peru announces large new gold find
the light louisiana sweet grade was also increased 50 cts to 1935 dlrs a barrel
easco hand tools inc of hunt valley md filed with the securities and exchange commission for the sale of 67275000 dlrs in common stock its first public stock offering
semi div 13 cts vs 18 cts prior pay march 13 record march two
s k i ltd skii 2nd qtr jan 25 net
as much as the fed would like to take a tough line against inflation it cannot act to slow the growth of credit without subverting national us economic policy
aero services aeroe sees better 1987
the american soybean association asa denounced european community ec oilseed policies as illegal under the general agreement on tariffs and trade and threatened to make an unfair trade complaint if the ec does not remedy the situation
he said in a statement the facility would purchase debt of a debtor nation at a discount and then sell the loans to private investors
cpc had previously said it wanted to sell the european corn wet milling business and use the proceeds to help reduce debt including that incurred under the share buyback
while textile producers are making significant investments they could do more ota analyst henry kelly said
certificated cotton stocks
price to be offered for the guardian morton special shares under the takeover bid will be 90 pct of the net asset value of the special shares at the time of the bid and two dlrs for each series ii warrant the company said
in a filing with the securities and exchange commission harris said it bought 36700 builders transport common shares on feb 10 at 17 dlrs a share
in october 1985 washington outlined a debt crisis strategy under which commercial banks and multilateral institutions such as the world bank and the international monetary fund imf were urged to step up lending to major debtors nations
it said cumulative roastings for calendar 1987 now total 4440000 bags compared with 4540000 bags by this time last year
moran himself withdrew from the takeover effort and last reported his personal stake at 48 pct
around 200 billion dlrs in commercial bank debt have been rescheduled since 1983 with interest rate margins now below one pct multi year accords a norm and no financial crash in sight but a lasting solution seems no nearer
us treasury secretary james baker said the japanese trade surplus would begin to decline this year
proceeds from the note sale and a 300 mln dlr issue of convertible subordinated debentures will be used to repay indebtedness incurred by carbides recapitalization plan
to complement the short term measures nakasone is also likely to present reagan with details of japans longer term economic plans
retailers are not planning for much inventories are being kept lean markdowns are lower than last year but sales are coming through anyway said cj analyst harry mortner
chivuno told a press conference at the end of three weeks of negotiations with the international monetary fund imf that there would be a fixed exchange rate for official transactions and a fluctuating rate decided by the auction for other types of business
the meeting will be a non event with no change in the official prices because opec and in particular the saudis are committed to stabilizing the market said rosario ilacqua analyst with lf rothschild
the bangladesh trade deficit narrowed to 191 billion taka in october from 564 billion in september and 243 billion in october 1985 the central bank said
childrens discovery cdcra 4th qtr loss
if predictions of a 30 pct decrease in plantings prove true australia may not be able to supply wheat to some of its valuable markets he said in a statement
many of the officials had met earlier today and yesterday within the framework of the organisation for economic cooperation and development oecd to review the slow progress being made in cutting the record 170 billion dlr us trade deficit and persuading west germany and japan to open their economies to more foreign imports
excludes loss 293000 or 16 cts per share for 1986 and gain 651000 or 18 cts per share for 1985 for discontinued operations
s and p said the upgrade reflected the firms overall strong profile high quality earnings and cash flow and prospects for modest preferred and preference stock usage
commissioned banks are responsible for protecting bondholders and conducting principal and coupon payments
in a filing with the securities and exchange commission compagnie generale said it bought its 139200 california water shares for a total of 70 mln dlrs for investment purposes
norcros profits advance in 1986 87
the report indicates the realization of the companys assets is dependent on it obtaining enough working capital to finance operations and additional funds to meet other liabilities among other things
group cuts zondervan zondo stake to 38 pct
us trust co ustc raises broker loan rate
banks excess reserves averaged 103 billion dlrs a day in the latest statement period down from 150 billion in the previous one
first boston affiliate to acquire allegheny intl for 2460 dlrs shr
castonguay said laurentian group corp the parent firm plans to fill out its national financial services distribution system and make further acquisitions if the right opportunity occurs
non callable for life the issue is rated baa 2 by moodys and bbb plus by standard and poors
it is a key to seeing whether there are any teeth in the quota agreement said one major us roaster
the supply in december was 59 months
shr 10 cts vs 14 cts net 531896 vs 727781 revs 160 mln 168 mln six mths shr 30 cts vs 39 cts net 1532431 vs 2000732 revs 327 mln vs 345 mln
nine mths include 17 billion dlr addition to loan loss reserves in 2nd qtr mostly for shaky ldc debts
the company said alan marvoce has been named to replace lambert as chairman and chief executive officer and michael t
the bonus was made to cargill inc and will be paid in the form of commodities from ccc stocks
1986 net also excludes a gain of 664 mln dlrs or 450 dlrs a share for credit on debt restructuring
empire of carolina inc emp 4th qtr net
rotterdam karachi 20000 21000 mt shredded scrap 7000 1100 15 30 4
the bank of england said it provided the money market with late assistance of around 25 mln stg
but lyngs aide said that during a day long visit to capitol hill yesterday house members did not press the secretary on the subsidy question a single time
morgan stanley made its 244 billion dlr bid after samjens bid 72 dlrs per share for burlington
federal reserve board vice chairman manuel johnson said the inflationary expectations in the financial markets have eased since the feds last half point increase in its discount rate to 60 pct
in the three months to end april such costs were 09 pct higher year on year compared with a rise of 12 pct in the three months to march
payment is due march 27
it said closing is dependent on receipt of necessary regulatory approvals and other matters and after closing trump will tender for remaining class b shares at the same price
cambridge said it would use proceeds to significantly reduce short term debt
there is no question of stimulating consumption or relying on a systematic budget deficit or other reflationary policies to boost the french economy sources close to finance minister edouard balladur said
rio de janeiro dockers strike
and above all europe and the united states have too many common interests to make it worthwhile to engage in trade wars and competitive export subsidies which end by benefitting no one he added it is crucial that the united states and the european community remain friends jopling who is a member of the ec agriculture committee was in indiana to visit several farms prior to talks with us officials in washington later this week
uae oil minister mana said al oteiba arrived in alexandria last night for a visit to egypt the national middle east news agency mena said
attractive interest rates offered by domestic banks to compete for time deposits of more than 600 mln yen has underpinned short term rates they said
white engine said the purchase is led by donald stewart a private investment banker along with white senior executives
he said the ec standard of 002 parts of aflatoxin per million parts of meal which ec countries had been asked to apply by october 1988 was too rigid
the release of uk february trade data showing that the current account surplus was a provisional 376 mln stg up from a 73 mln surplus in january has boosted hopes of an early cut in interest rates analysts said
aetna life and casualty co said it reached an agreement to acquire a 49 pct interest in universal life and general insurance sdn bhd ulg a malaysian composite insurance company
it said the plant will be built on a geothermal site at china lake calif on property leased from the federal government
kresge is the forerunner of what is now the k mart chain
the federal home loan banks would borrow the five billion dlrs in financial markets to assist the fslic which government auditors have said is approaching bankruptcy
the holders none of whom was willing to be identified said although harcourt has urged that they convert their shares to common stock by the june eight record date for a special dividend they were unable to determine if it might be better for them to continue holding the debentures
the commission withdrew from the package agreed last night proposals to pay early retirement pensions to farmers aged 55 or over who gave up production
lead values on the lme today were unchanged around 299 stg per tonne for three months delivery after thin business in a one stg range
i would hope retail stores and other financial institutions will look to their rates as well hockin said during the daily question period
british caledonian group announces big losses
very good progress was made last year while the recent acquisition of chesebrough ponds inc cbmn was a significant addition which will greatly benefit the group in the years to come
the amex said the initial expiration months for hbj options are april may july and october
heyman intends to reconsider its proposal to acquire gaf
foreign orders grew one pct to 116 billion marks
no immediate explanation was given for the changes
lm ericsson of sweden said it agreed in principle to buy the 49 pct of intelsa its spanish unit that it does not already own from telefonica spains telecommunications administration
charles c
usdas intention to propose scrapping price floors for cotton rice and soybeans had not been disclosed previously
it has followed wall street and other markets but is also setting its own trend in response to the weight of both domestic and offshore funds pouring into equities particularly in the gold sector
in the mideast gulf propane appeared easing slightly after a major us oil company bought propane on formula which netted back about 123 dlrs cif mideast gulf which was two dlrs below saudi arabias government selling price gsp industry sources said
mark iv industries inc iv started tendering for all conrac shares at 25 dlrs each on march 24 and owned 99 pct of conrac before starting the bid
fees consist of a 7 8 pct selling concession and 1 2 pct combined management and underwriting
it put out the statement by 5 0 vote for a 30 day comment period
dunlop malaysian industries bhd 
he told a news conference that china also has considerable reserves of gold
family health system inc said the federal bankruptcy court in fort worth texas has approved its offer to purchase sheppard dental centers incs assets from a chapter 7 bankruptcy proceeding for about 300000 dlrs
lex service plc lexll said it had acquired sears motor group ltd the retail motor distribution arm of sears plc sehll and an 119 mln stg loan note payable by sears motor for 334 mln stg
banks which bid for a total 122 billion marks liquidity will be credited with the funds allocated today and must buy back securities pledged on may 6
annual ore capacity will be about 750000 tonnes
but he forecast its biggest industrial subsidiary steyr daimler puch ag sdpvvi would return a 1987 result similar to the expected 1986 operating loss of 700 mln schillings
union texas oil reserves dropped in 1986
group chief executive brian corby told a news conference that despite returning to trading profits the international division and the mercantile and general division had not reached satisfactory levels
american filtrona corp afilo 3rd qtr
spain to launch export drive
he said jakartas willingness to move quickly after last years collapse in oil price saved indonesia from some of the difficulties now faced by other countries
ecuadors consumer price index rose 25 pct in february to 5624 base 1978 the national statistics and census institute said
shr loss 15 cts vs nil net loss 877000 vs profit 22000 sales 135 mln vs 180 mln nine mths shr loss 35 cts vs profit 20 cts net loss 2098000 vs profit 1184000 sales 435 mln vs 559 mln electro scientific industries
ussr wheat imports were projected at 15 mln tonnes up one mln from last months estimate and 700000 tonnes below the preliminary 1985 86 figure
kato said japan will maintain its current level of self sufficiency and will try not to produce surplus rice because potential production is higher than domestic demand
for the fourth quarter ended march 30 1986 the company reported net income of 631720 dlrs on sales of 52 mln dlrs
court rejects buitoni appeal over iri food unit
it said in a statement the stabilisation of crude oil prices and the organisation of petroleum exporting countries efforts to achieve further firming of the price has led to growing inflationary pressures in the us money supplies in the us japan and west germany exceed central bank limits and real growth of their gross national products it added
farah fra again omits quarterly dividend
cut were the parents senior debt and industrial revenue bonds to a 3 from a 2
the sia charged that the feds ruling violates the 1933 glass steagall act barring banks from underwriting most types of securities
wesbanco inc said its board executed a merger agreement with the bank of sissonville when the merger is completed each of the 50000 shares of the bank of sissonville common stock outstanding will be converted into 275 shares of wesbanco common stock the company said
the margin on previously restructured debt also will be cut to 1 1 4 point from 2 1 2
sudan has rejected a demand by the international monetary fund for a currency devaluation because such a move would have a negative impact on its economy the official sudan news agency suna reported
it is being played by opec membership as a whole because the reduction in the 158 mln bpd share of opec in the market is being shared by other members of opec nazer said
it was hoped to bring the public sector borrowing requirement down to five pct of gnp in 1987 from an estimated 56 pct in 1986
the 30000 member mainly black chemical workers industrial union said it fears the planned move to the bophuthatswana homeland where south african unions are not recognised could lead to job losses and affect wages
last year barbados boosted its capital market borrowings with a small private yen placement in the japanese market
but added time is now ripe and all circumstances are appropriate for making crucial progress referring to the iran iraq war he said efforts should continue to find a solution despite prevailing difficulties
the pilots earlier this week offered to buy the airline for 23 billion dlrs and assume 22 billion dlrs of existing debt
unemployment was up from 28 pct a year earlier
commerce bank said improved other income which rose to 2136 mln dlrs from year earlier 1701 mln dlrs and net income was partially offset by the increased loan loss provisions non interest expenses and income taxes
in other areas silas looks for improved earnings from phillips chemical operations which provided 299 mln dlrs in earnings for 1986 up from 219 mln dlrs in 1985
viner said its brokerage subsidiary edward a
shr profit 13 cts vs loss one ct net profit 853000 vs loss 22000 revs 411 mln vs 203 mln avg shrs 6349753 vs 4403852 nine mths shr profit 57 cts vs profit 28 cts net profit 2869000 vs profit 1252000 revs 1190 mln vs 676 mln avg shrs 5054844 vs 4403000 note company went public in october 1986
but the company stressed in a filing with the securities and exchange commission that it believes it is too soon to reclassify the debt despite brazils feb 20 suspension of direct interest payments on medium and long term loans
rowan cos inc said it expects to incur substantial losses in 1987 despite expected improvement in drilling levels in the gulf of mexico and the north sea
the company blamed the expected loss on regulatory and permitting issues that limited the full utilization of hazardous waste treatment cites in califoirnia continued startup delays for major remediation projects the writeoff of an investment in a subsidiary and a settlement with the california attorney generals office and department of health services
noranda inc said it began salvage operations at its murdochville quebec mine where a fire last week killed one miner and caused 10 mln dlrs in damage
sen
shearson in the market place would probably be worth three to 35 bilion dlrs in terms of market capitalization said eckenfelder
federal reserve business loan data april 3 one week ended march 25 daily avgs mlns us business loans 280220 down 971 excluding acceptances 277940 down 822 govt agency securities 112852 down 95 cds major time deposits 158226 down 175 trading accounts 17156 down 1058 us commercial paper 338816 down 210 includes financial cos 261819 down 880 new york business loans 64615 down 122 excluding acceptances 64005 down 41 cds major time deposits 35633 down 540
because of the lack of a substantial recovery in energy prices this year especially in natural gas prices it was felt prudent to increase reserves and take losses on loans in this sector
the primary cause of the plan to sell 775000 tonnes of sugar into intervention in france is dissatisfaction with the ec export program as the restitution has increasingly failed to bridge the gap between the ec price and the world market price czarnikow notes
us supply demand highlights
directors of the chicago board of trade cbt decided at their regular board meeting late yesterday to submit a long term japanese government bond futures conrtact to the commodity futures trading commission cftc for approval
us supply demand detailed by usda
the 50 european currency unit gold coins which go on sale tomorrow in belgium will be priced at a premium of seven pct to the value of the gold they contain a finance ministry spokesman said
public credit director mauricio cabrera said colombia plans to launch a foreign bond issue in the second half of 1987 possibly for 60 mln dlrs
the notes can be converted into common stock at a price of 4235 dlrs per share
it said the debentures will continue to be converted into yankee preferred
the flavours and fragrances firm naarden international nv acquired by anglo dutch food and detergents group unilever plc nv unas last year said net profits for 1986 fell 114 pct to 195 mln guilders
nova wins government okay for husky hyo deal
otherwise they fear the gradual re establishment of normal market conditions for latin borrowers will be set back
while the court has not issued a final judgment selas said it indicated that milgard will be awarded about one mln dlrs in damages
first boston officials were not immediatley available for comment
but cumulative beef output for the first seven months of fiscal 1986 87 ending june 30 rose to 838416 tonnes from 746837 a year earlier following a rise in cattle slaughter to 384 mln head from 340 mln
boliden takes over allis chalmers division
service control bids for american service
south africas new foreign debt agreement sparked a rally in local financial markets but bankers and economists said the pact removes only one source of anxiety from a still depressed economy
the central bank purchased bank bills outright comprising 119 mln stg in band one at 9 7 8 pct 144 mln stg in band two at 9 13 16 pct and two mln stg in band three at 9 3 4 pct
elevator loading waiting continental grain westwego 1 3 mississippi river myrtle grove 2 0 adm growmark 1 4 bunge grain destrehan 1 0 elevator loading waiting st charles destrehan 1 3 reserve elevator corp 0 1 peavey co st elmo 1 2 cargill grain terre haute 1 4 cargill grain port allen 1 0 zen noh 1 1
furthermore more than half the oil produced from imported beans is re exported to third countries tanghe added
the sec charged nahum vaskevitch a managing director of merrill lynch pierce fenner and smith ltd with profiting from inside information about 12 companies involved in mergers
kado 42 will be responsible for finance and purchasing
northgate exploration ltd said hourly paid workers at its two chibougamau quebec mines voted on the weekend to accept a new three year contract offer and returned to work today after a one month strike
year to date figures will not become available until march 26 when eias petroleum supply monthly data for january 1987 becomes available the agency said
in addition ibm has said the full benefits of its early retirement program and other cost cutting moves will emerge as the year progresses
japanese creditor banks are close to a decision to jointly establish an offshore firm to which they will transfer part of their title to possibly unrecoverable debts owed by developing nations international financial sources told 
tempo enterprises inc said it signed a letter of intent to sell seven cable television systems representing about 5000 subscribers to eagle cable terms of the acquisition were not disclosed
it will be difficult to pull together the people for the meeting during july an aide to usda undersecretary daniel amstutz said
contl illinois cil sees impact from tax reform
sen
because it was a voluntary deal many bankers feel strongly that the orginal terms must be adhered to
katharina zimmer analyst for merrill lynch futures said the conservation sign up was slightly higher than she had expected although she noted that some trade expectations were considerably higher than the actual figures
id be stunned if we were not going to derive some benefits from the lower dollar soon said one
italian sowings are not yet complete but surveys suggest a drop from last years 270000 ha especially in the north where some farmers have switched to soya
the officials declined to give any idea of floor prices saying it depends partly on volume but industry sources estimate average export prices would rise by around 20 pct to some 800 dlrs a tonne
year to march 31 1987 share 106 rupees vs 130 pre tax profit 9952 mln rupees vs 157 billion net profit 8752 mln vs 107 billion sales 1416 billion vs 1285 billion dividend 25 pct vs same tax 120 mln vs 500 mln note full company name is tata iron and steel co ltd tatabo dividend is payable to shareholders on aug 12
saudi riyal interbank deposits were steady at yesterdays higher levels in a quiet market
herrhausen said the grouping of holdings in the balance sheet in this was was not a first step to floating them off in a separate holding company
royal dutch shell group rdams unit shell australia ltd said its net profit fell to 4579 mln dlrs in 1986 from 6676 mln in 1985
in 1986 the banks loans to the midwests middle market rose 20 pct at a time of overall weak loan demand in the us concerning banking acquisitions swearingen said the bank would like to buy additional suburban chicago banks
the notes are available in denominations of 1000 and 10000 dlrs with payment set for may 6
that might harm the fragile us economic expansion
vak told a news conference that last januarys cut in lending rates for commercial customers and for all depositors by a quarter point had been insufficient
one major french bank said it bought 10 mln dlrs for the central bank selling yen within a trading range of 14820 30 yen to the dollar compared with yesterdays 14928 rate at which intervention was carried out here
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
japan development bank is not allowed to raise euroyen
energy secretary john herrington said he may recommend to the white house that the domestic oil industry be given tax benefits to help it produce more oil and head off increasing us dependence on foreign oil
the official briefing reporters on this weeks semiannual imf meetings said the issue would be discussed this week and the us had an open mind on the proposal but it did object to concessional interest rate relief
japans ministry of finance does not permit the issuance of euroyen bonds with maturities shorter than five years
us capacity use rate 798 pct in february
if interest rates fall after the mortgage is made the lender is earning an above average return on assets
he said the company intends to reinvest its earnings in its businesses and not in its dividends
according to a contract between pdvsa and the central bank the bcv must provide cash as the oil industry requries by repurchasing the bonds
platinum was fixed this morning at 58350 dlrs an ounce up from fridays close of 57850 58050 and also the highest setting since october
payment date is april 1 denominations are of 1000 and 10000 dlrs and listing is in luxembourg
computer products inc said it signed a letter of intent for an underwritten public offering of 30 mln dlrs of convertible subordinated debentures
in his speech focusing on current free trade talks between the us and canada reuber said failure to reach a deal would not represent a calamity for canada but could lower canadas standard of living raise unemployment and reduce the countrys world trading influence
1987 net both perioods includes charge one mln dlrs from restructuring of computer products division
melcher originally had proposed sending missions to mexico the philippines indonesia bangladesh senegal nigeria peru kenya the dominican republic costa rica malaysia venezuela tunisia and morocco
shr loss 3109 dlrs vs loss 186 dlrs net loss 1127 mln vs loss 55 mln note 1986 loss includes operating loss of 1094 mln dlrs or 3021 dlrs a share including an additional loan loss provision of 68 mln dlrs write downs in the value of real estate of 13 mln dlrs and an extraordinary loss of 33 mln dlrs for early retirement of long term debt
vice minister of foreign trade bernardo chamorro said that participating in the meeting will be the heads of the coffee associations from the four countries
it said it is already the principal ec producer of sugar and of soya oil and cake and the major cereal trader
as a result post tax profit from the exploration and production sector fell by only 126 mln stg to 539 mln
operators said the sharp rise reflected higher output at several of norways biggest fields and resumed production at fields shut down for 27 days in august for the ekofisk field rescue project
mcandrews and forbes holdings inc said it will offer 1850 dlrs per share for all of revlon group incs rev outstanding common stock
shr 43 cts vs 36 cts net 7209000 vs 5574000 sales 777 mln vs 587 mln avg shrs 16676000 vs 15478000 year shr 112 dlrs vs 110 dlrs net 18371000 vs 17032000 sales 2575 mln vs 1983 mln avg shrs 16411000 vs 15433000 note year ago period ended feb 1 1986 full year earnings include gains from discontinued operations of 184000 dlrs or one ct a share vs 3143000 dlrs or 20 cts a share
shr three cts vs two cts net 109000 vs 67000 sales 113 mln vs 113 mln nine mths shr seven cts vs 99 cts net 221000 vs 3213000 sales 306 mln vs 359 mln order backlog 227 mln vs 135 mln note 1986 figures include life insurance proceeds of 25 mln dlr or 78 cts a share
diplomats said west germany again repeated its criticism at the talks here but andriessen told journalists that germany had been alone in its opposition
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
borg warner said it advised jacobs that before its board would give minstar access to company records minstar would have to provide satisfactory evidence that sufficient financing was committed to carry out whatever transaction was proposed
paper will have maturities between seven and 183 days and will be issued in global and definitive form
diplomats said ec environment ministers meeting here agreed member states would have to reduce by 20 pct over the next few years the emission of nitrogen oxide widely seen as the main source of acid rain endangering forests and lakes
china comes third with 58000 bpd
well if thats what it is fine
henry gluck chairman and chief executive officer of the hotel casino and resorts company said in a statement the board believes the recapitalization plan is financially superior to a 28 dlr a share tender offer by martin sosnoff
japans move came after several unsuccessful bilateral negotiations on the plan the spokesman said
mines power and steel minister bunu sheriff musa said in lagos that nigeria would have no difficulty keeping within its atpc quota of 1461 tonnes because its metals output had declined due to poor demand and high production costs
oper shr loss one cts vs loss five cts oper net loss 15000 vs loss 79000 revs 6244000 vs 8148000 avg shrs 1912000 vs 1537000 nine mths oper shr profit 19 cts vs profit 22 cts oper net profit 347000 vs profit 341000 revs 226 mln vs 285 mln avg shrs 1840000 vs 1537000 note oper excludes tax losses of 13000 vs 85000 for qtr and tax credits of 258000 vs 235000 for nine mths
he said the allocations were in line with indonesias production ceiling under its current opec quota so they might be increased if opec ratifies a production rise next week
but there was a widespread recognition at the conference that the baker plan has fallen well short of expectations
kelley said it currently owns working interests in some of the properties
in tokyo however he is due to meet private bankers to whom brazil owes some 68 billion dlrs the sources said
due to concern about the farm trade row with the us top level government officials may press the ministry to cut the duties one said
isuzu motors ltd isumt six months to april 30
thai exports rose 194 pct in 1986 and are expected to expand another 15 pct this year bankers said
dow chemical cos thermoplastic resin department said it is amending a recent price increase for magnum abs a resins announced march 3 for an effective date of april 1
the company made 419 billion yen group net profit in the year ended november 31 1986 down 426 pct from a year earlier on sales of 1325 billion down 67 pct
that adjustment should be large enough in a context of a growing world economy and fiscal restraint in the united states to support the widespread expectations of a narrowing in the real trade deficit in the period ahead he said
oneill said the elimination of price limits on all comex metals futures would add caution to trading since all contracts could move any distance
it the debt problem is not a happy development but i think it can be overplayed in terms of its impact crow told reporters
oak industries oak to buy rexnord rex unit
last week the average rate of discount was 93157 pct
canadian finance minister michael wilson said on entering the meeting the ministers would review the paris agreement
hundreds of ugandan coffee farmers and processors have been waiting several months for payment from the cmb which has had trouble finding enough railway wagons to move the coffee to the kenyan port of mombasa
for opec to stabilize the world oil price at what is now considered the optimal level of 18 dlrs a barrel its member countries have had to undergo severe hardship in curtailing production al wattari said
speaking to reporters after talks with president suharto he said he expected jakarta to do more to liberalise the economy and deregulate trade policy
cenergy crg reports 4th qtr net profit
fed funds which averaged 609 pct on friday opened at 6 3 16 pct and remained at that level in early trading
i know we cannot obtain complete decoupling in 1987 but we can at least move in that direction boschwitz said
the investor group bought 50 pct of the common equity and supplied five mln dlrs in mezzanine financing
the borrower will be able to issue paper with maturities of seven to 365 days in other avialable currencies such as european currency units
pettee estimated 58 dlrs would be in a more reasonable range based on other airline mergers
he gave no further details
the firm has said it bought the stake as an investment on behalf of its clients but said it has had discussions with shaer management
de kock speaking at the same news conference said the three year length of the agreement was of enormous significance to south africa
belgelectric finance bv is raising 300 mln luxembourg francs through a five year non callable bullet bond carrying a 7 1 4 pct coupon at par lead manager banque internationale a luxembourg sa bil said
treasury secretary james bakers assurances that us policy is to oppose these loans did not satisfy concerns raised at two senate committee hearings last week
was closed on february 27
ctc a group of canadian tire dealers added that it also extended its tender offer to march 31 and was seeking approval to extend its bid while the appeal court heard the case
european zinc production including estimates for yugoslavia fell to 152900 tonnes in february from 164200 in january compared with 156400 in february 1986
nis has assigned rates on a us firm for the first time in japan which was the first step into the us rating market kazuya kumura general manager of nis said
the international monetary fund imf has assured kenyan president daniel arap moi it will continue to give his country maximum support the official kenya news agency kna said
the copper mine and smelter produced 72000 tons of copper anodes in 1986 and employs 680 people
the company also said it does not intend to spend more than 380 mln dlrs for the shares tendered
the swedish match deal will cost the wallenbergs about 400 mln crowns share analysts said making it one of the most expensise moves the group has undertaken in the last four years to defend its far flung interests from outside predators
the spokesman said the case would probably be heard in witbank regional court near kinross in mid may
dura a supplier of automotive equipment had annual sales of over 100 mln dlrs
the dollar opened at 14765 yen against 14720 30 in new york and 14690 at the close here yesterday
merrill lynch and salomon brothers co managed the deal
weather officials in neighbouring sweden said the icy conditions in the baltic were the worst for 30 years with ships fighting a losing battle to keep moving
store sales activity varied throughout the country ranging from good in the east to weak in the depressed southwest
it said the sale has eliminated an unprofitable operation
but in an interview with during the flight to tokyo yesterday lyng said the goal of his trip was to throw an international spotlight on japans agricultural import protection in the hope pressure would build on tokyo to open its markets
it said it does not expect more than 400000 warrants to be converted over the next 12 months
nothing like that has happened he said
the commerce commission has approved a proposed merger between progressive enterprises ltd and rainbow corp ltd rainbow said in a statement
the agency requires public companies and investment vehicles such as mutual funds to issue periodic reports on their financial condition and to disclose changes in their condition any time they issue new securities
the ultimate question is not the price per share or the profit but rather the permissable standards of conduct for those who would takeover an american company said burlington lawyer humphrey
he told a pakistan central cotton committee meeting here the present was the third consecutive poroduction record setting year and said the momentum would be accelerated in the future the official app news agency reported
brazil has the potential for becoming a leading world economic power but it is in a difficult position today volcker said
cxr telcom corp cxrl 3rd qtr march 31 net
the philippines exported 43540 tonnes of coconut oil worth 117 mln dlrs to europe in january against total exports of 86959 tonnes worth 238 mln
british prime minister margaretthatcher said in parliament last week that she regarded cable and wirelesss participation in the japanese venture as a test case of how open the japanese telecommunications market really was
the rights will be exercisable only if some one acquires 30 pct or more of centronics common or announces an offer which would result in ownership of 30 pct or more of the stock
he said in a television interview the dispute had fanned fears of a breakdown in the cooperation which is so important between finance ministers of the major nations
cheung kongs subsidiary international city holdings ltd will complete work on the hotel by the end of 1988 when it will be handed over to citic
and if for some reason amr decides not to take the planes ges financial arm general electric financial services inc would have little trouble rounding up another airline that wanted the fuel efficient planes
imperial corp of america said it declared a 10 cts dividend and four pct stock dividend on april 25 to holders of record april 10
oneill added that the elimination of daily limits would add caution to trading
imports of us corn have fallen due to increased sales from china and south america while japanese soybean imports from brazil are expected to rise sharply this year although the us will remain the largest supplier
german money market split on lower rate prospects
bank of thailand statistics show foreign reserves rose to 395 billion at end january from 303 billion a year earlier
it would ask for authorised capital of a nominal 200 mln marks for the issue of new shares and for 300 mln for the issue of warrant bonds both for the period until april 30 1992
under an agreement with mize dna said he will also become chairman and may at his option expand the board to provide him equal representation with the current board
dresser earned 9600000 dlrs for the year ended october 31 after a 950 mln dlr gain from a change in accounting and pension plan curtailment and a 253 mln dlr writedown of oilfield assets
ic said it will redeem 69 mln dlrs in 14 pct guaranteed notes seven pct swiss franc notes of abex international worth 40 mln swiss francs 262 mln dlrs and 184 mln dlrs of 11 5 8 pct pneumo subordinated sinking fund debentures
no fees were stated
the bundesbank provided banks with liquidity in the fourth march week by disbursing funds in the money market via government owned banks
to date only 13 euro mtn programs have been announced but only a few have been activated such as those for a unit of pepsico inc and another for ab electrolux
nbc said its proposal contains assurances that there is no intention to replace regular employees with daily hires nbc said regular employees who may be on layoff would be offered employment first
neti technologies inc said it has sold for over four mln dlrs us in cash notes and the assumption of liabilities its huron leasing inc subsidiary to a group of investors headed by a former huron executive
setting issue terms using financial criteria prepared by securities houses and in reference to coupon rates on latest public bonds is now almost automatic they said
brent walker group plc said it had agreed to buy the group of companies comprising lonrho plcs lrhol metropole casino division together with a freehold in central london for 12155 mln stg
vak noted that inflation had fallen below one pct
that speculation drove borg warner stock up 1 3 8 to 49 5 8 in heavy trading
the american service board has approved the offer which is to be followed by a merger at the same price
debt servicing cost burma 162 billion kyats in 1985 1986 while foreign exchange earnings export revenues plus loans and aid totalled 323 billion kyats in the same period the council said
currency intervention timing crucial analysts
youd certainly be more inclined to ease than you would in the past there was certainly nothing in the feds latest balance sheet however to suggest a change of policy is already under way economists said
wisconsin public service wps raises budget
allis chalmers said its only alternative to the plan is bankruptcy
up until now there have been no restrictions on lead managing eurobond issues
the bank of spain today did not provide assistance funds to banks in a move to drain excess liquidity from the money market
the estimate which the usda has left unchanged since october should be affected this time by recent evidence of a shortfall in the early and midseason crop now that those harvests are complete
in addition to the funds raised in capital markets the fslic would receive another five billion dlrs in assessments on financial institutions belonging the fund
the banks raised the prime to the current six pct from five pct on february 28 after cutting it 1 1 2 points from 6 1 2 on january 15 in response to upside pressure on the hong kong dollar he said
groundwater technology inc gwti 3rd qtr jan 31
the company said the portfolio accessed by checks is similar to chases advantage credit product
japan is seeking to prevent its computer chips dispute with the us from erupting into a full scale trade war government officials said
the sources also said the government had already stepped up its borrowing programme in anticipation on increased needs
sallie mae said previously interest on the notes which are for settlement march 12 and are due sept 10 1987 will be reset the day following each weekly t bill auction
what will be the standard octane level in various grades of unleaded gasoline asked dunham
funaro and gros are today meeting british chancellor of the exchequer nigel lawson foreign secretary geoffrey howe and governor of the bank of england robin leigh pemberton
he said the total will be delivered in three shipments
the proposed merger that would create a 12 billion dlr oilfield services company was thrown into limbo yesterday when hughes management balking at the terms of a government consent decree offered a counter proposal to baker
it said oteiba who had just attended the opec ministerial meeting in vienna would stay for several days but gave no details
s and p affirmed the c rated preferred since preferred dividends were discontinued last year
the agriculture ministry said it set japans beef import quota for the six months from april 1 at 93000 tonnes up from 83000 in the second half of 1986 87 and 85000 a year earlier
proceeds will be used to repay certain indebtedness and increase working capital as well as for general corporate purposes
partly offseting these outflows a fall in note circulation will add some 355 mln stg to the system today
rural factories also subsidise grain output paying farmers bonuses to grow it
morgan stanleys david hill said he just assumed coverage of philip morris and placed it on his recommended list becasue of its attractive earnings growth and because the stock is selling at a discount to the market based on morgans figures
qtr ended feb 28 oper shr loss one ct vs profit 12 cts oper net profit 3000 vs profit 218000 revs 120 mln vs 106 mln avg shrs 2421000 vs 1602000 nine mths oper shr profit 28 cts vs profit 24 cts oper net profit 639000 vs profit 500000 revs 346 mln vs 312 mln avg shrs 1928000 vs 1620000 note oper excludes tax credits of 180000 and 415000 for year ago qtr and nine mths
but bundesbank president karl otto poehl has often made it clear in the past he opposes such gestures as mere eyewash economists said it was really up to the bonn government to cut taxes rather than for the bundesbank to ease monetary policy to meet pressure on west germany at the venice summit
japan wanted the paris communique to imply a higher value for the dollar perhaps by substituting the word recent for current while the united states wanted it to more clearly point to the dollars weaker levels now perhaps by use of the word present they said
the suspension comes after the bank yesterday gave 1145 billion pesetas assistance a record high for this year
ual said morgan stanley and co inc and merrill lynch capital markets have underwritten the issue in the us where four mln shares are being offered
brazilian officials are trying to increase brazils export share of non flat products to the us market
spain to relax exchange controls
exports of the same commodities fell to 135 mln tonnes from 138 mln on a fat oil basis
we have to discuss the foreign debt like mexico does if necessary going to the imf mario amato president of the sao paulo state industries federation was quoted as saying
refco inc senior vice president michael connery also noted that the market is showing very little momentum and lacks retail interest
finance minister dilson funaro said in a television interview it was absolutely important for brazil and its creditors to renew the short term credit lines as brazil must finance its exports
shipowners have offered a 100 per cent raise which the seamen rejected
it was up 94 pct on its level a year before
smc also proposed to sell a further five mln shares to an soriano corp the family company of san miguel president andres soriano del rosario said
zimbabwe gdp rises 02 pct in 1986
seixas director of the brazilian central banks foreign debt department met the full panel on tuesday and wednesday
the cause and extent of the damage had yet to be determined
he said unseasonably warm weather in late february that brought the wheat crop out of winter dormancy early was followed by three weeks of unusually cold weather
three killed in south africa zinc refinery clash
in a statement the company said the sec action involves events that occurred prior to campeaus acquisition of allied relating to the alleged failure of allied to make certain disclosures
it also said it may raise its stake in cadbury schweppes to 25 pct but has not made any additional stock purchases so far
protective life corp said it has signed a letter of intent to assume liberty life insurance cos group insurance on july 1 subject to regulatory approvals
cpc international inc said said it has agreed in principle to sell interests in its grocery products operations in hong kong malaysia the philippines singapore taiwan and thailand to ajinomoto co inc of japan for 340 mln dlrs
the fca and financially troubled farm credit system have in the past been ambivalent about the idea mainly because any farm secondary market established in the private sector which excluded the farm credit system would put the system at a competitive disadvantage and could be another financial blow to the system which has lost 46 billion dlrs in two years naylor and farm credit system officials have said
monier is the largest concrete roof tile manufacturer in australia the us and new zealand and the worlds largest marketer of fly ash according to its annual report for 1985 86 ended june 30
these discoveries will help australias self sufficiency in oil reserves thereby offsetting in part the decline in bass strait production now under way mcgill said
such bids often depend for their success on creating a highly charged and artificial situation in the share market and give rise to temptations on both sides of the battle to engage in aggressive even manipulative tactics that are immensely damaging to the interest of the shareholders he said
enterra corp said its bank group has reduced its revolving credit agreement to 40 mln dlrs from 60 mln dlrs
no intervention dollar fixed at 18218 marks
former nz premier calls for cheaper currency
shr loss 164 dlrs vs loss 208 dlrs net loss 9761000 vs loss 10977000 revs 4409000 vs 2697000
dominion resources inc d 1st qtr net
us sectors consumer goods 25 mln stg vs 20 mln building products 29 mln vs 25 mln food seven mln vs two mln businesses owned in 1986 and sold during 1987 nil vs nine mln
bank of new england bkne sells capital notes
the loan is still only 99 pct subscribed and the loan books will be kept open for several more weeks to round up the final 100 mln dlrs and the approximately 60 banks that have so far refused to join the deal
as a result it said it has eliminated the scheduled may 1987 conversions of 1300000 dlrs of series a notes and 1400000 dlrs of series b notes
dai nippon printing co ltd dprit said it will issue three convertible yen bonds on domestic markets
bank regulators have become concerned about the use of swaps because the middleman usually a bank takes on some portion of the risk but is not required to show it on the balance sheet as a liability and may not have sufficient capital to cushion it
lundberg a zurich based swedish property tycoon also managed to acquire a 25 pct stake in another wallenberg company the diary equipment firm alfa laval ab alfs st during 1986 the wallenbergs have been concentrating on building up their stake in investor and providentia to prevent any raid on the heart of their business empire
the administration has been under pressure to retaliate
south africa corn in mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 120 120 187 187 production 850 950 808 808 imports nil nil 001 001 domes use 610 620 600 600 exports 210 300 275 275 end stocks 150 150 120 120 ec 12 corn in mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 517 528 289 289 production 2500 2503 2570 2578 imports 1069 1061 1282 1282 domes use 2820 2900 2946 2960 exports 791 794 678 661 end stocks 475 398 517 528 argentina corn in mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 052 039 039 039 production 1000 1100 1210 1210 imports nil nil nil nil domes use 460 460 460 460 exports 570 650 737 750 end stocks 022 029 052 039 thailand corn in mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stocks 043 033 011 011 production 410 410 535 515 imports nil nil nil nil domestic use 155 135 135 125 exports 280 300 367 367 end stocks 018 008 043 033 japan corn in mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 124 124 106 106 production nil nil nil nil imports 1550 1544 1455 1455 domes use 1551 1545 1437 1437 exports nil nil nil nil end stocks 124 124 124 124
i have another debt one toward my people and my peoples efforts must not backfire he told diplomats
the federal reserve entered the us government securities market to arrange two billion dlrs of customer repurchase agreements a fed spokesman said
hernandez grisanti said also a first 300000 barrels shipment of venezuelan crude oil will leave for ecuador this weekend to help meet domestic consumption needs
of the 9500 billion lire of six month paper offered operators requested and were assigned 7098 billion lire at a net annualised compound rate of 924 pct down from 930 pct previously
the bond are payable april 23 1987 and are available in denominations of one mln yen
we want to correct business practices ramon diaz chairman of the presidential commission on good government pcgg told 
us rep
but as economic conditions had changed he said consumers had been led to make proposals for improving its functioning
chrysler c in deal to buy amc amo 
maryland national mdnt files to offer notes
headquartered in somerset nj pms reported over 70 mln dlrs in revenues in its last fiscal year which ended may 1987
as a result van dyke calculated that the purchasing power of an average family of four will increase by a modest 540 dlrs this year compared to a surge of 1210 dlrs during 1986
they investors are saying heres another one another family dispute said dennis mcalpine of oppenheimer
it said the conversion price might be adjusted or the offering discontinued based on fluctuations in the market price of irt common before distribution of the debentures
kjeldsen said taxes on the products concerned would help the ecs budget problems and would provide some price stability for producers
but the new study reported in thursdays new england journal of medicine shows the diseases can spread to humans
the bundesbank said in its february report that it was wrong to believe that the first stage of the tax reform in 1986 could be managed without increasing deficits
gordex mineral ltd said geologists located more than one mln tons of gold bearing deposits 0057 ounces per ton at cape spencer
president reagans authority to negotiate a new gatt agreement would be extended through january 1993 and authority to negotiate a free trade zone with canada would be extended through january 3 1991
the japanese delegation to the gatt talks said in a statement yesterday they are making major efforts to dismantle trade barriers in their country
a shareholder group led by a swedish investment firm and a norwegian investor said it raised its stake in the scandinavia fund inc to 2165300 shares or 333 pct of the total from 1978900 shares or 305 pct
president reagan and most congressmen have previously ruled out a tax on foreign oil as a way to curb imports and to help the depressed domestic oil industry
the accord restructured 58 billion dlrs of previously rescheduled debt 35 billion dlrs of debt falling due between january 1987 and december 1992 and 925 mln dlrs of new money lent by the banks in 1985 at a spread of 7 8 percentage points over london interbank offered rates libor it also rolled over trade credits worth 29 billion dlrs
reynolds and reynolds reyna to fight suit
since purolator agreed in late february to a buyout by some of its management and the ef hutton group efh subsidiary speculation has arisen that more bidding was to come
adolfo hegewisch mexicos undersecretary for commerce confirmed that the swap program had been halted but he told a euromoney conference on debt equity swaps that mexico had been forced to act because it had been inundated with applications
the payments to growers would cost an estimated 11 billion dlrs
rabobank finally gave in to bourse demands to honour all subscriptions
in order to stimulate domestic demand and boost the economy tax reforms aimed at bringing down the cost of land and reforming the nations housing stock are needed along with steps to bring down the high cost of commodities he said
vlsi technology inc vlsi 1st qtr net
donaldson lufkin salomon brothers and mabon nugent co managed the issue which was increased from an initial offering of 60 mln dlrs
geiger told finance ministers should meet soon to take confidence building measures to limit the damage caused by the dollars fall separately geiger told bild newspaper in an interview released ahead of publication on tuesday that the lower dollar which had been artificially talked down by us officials would damage west german exports and cost jobs
sugar imports subject to the us sugar import quota during the week ended january 9 the initial week of the 1987 sugar quota year totaled 5988 short tons versus 46254 tons the previous week the agriculture department said
bacob finance issues 50 mln australian dlr bond
asturiana has a three year option to purchase 25 pct of the austmet group to be priced on an independent valuation at the time of exercise metal traders said
computer asscess makes bluefish full text search and retrieval software for international business machines corp ibm and compatible personal computers
in paris britain canada france japan the us and west germany agreed to coooperate to hold currency rates around their then current levels
latest quarter net includes 24000 dlr tax credit
analysts said air canadas immediate concern ahead of a public stock offering will be unloading unprofitable air routes without setting off a political storm
southtrust corp a 51 billion dlr multibank holding company said it entered into agreements to acquire four florida banks with assets totalling more than 2332 mln dlrs
gold output for the year declined five pct to 638 tons compared with the previous years 671 tons
however the members will also discuss ways to combat proposals for a tax on imported oil currently before the us congress
asamera asm to form new mining unit
the marplan poll published in today showed conservative support had fallen to 36 pct from 38 pct last month while the alliance of liberals and social democrats had rallied to 31 pct from 21 pct to run neck and neck with the labour party whose own support fell from 38 pct
as previously reported the csr offer involves a complex put and call option deal with moniers major shareholder redland plc rdldl which gives redland the choice of accepting the csr offer for its 498 pct stake or moving to 501 pct within six months of the bid closing
licences for 100000 tonnes of the barley were awarded to french trade houses they added
shamrock also said nawara has been elected president of dbms and one of its directors
trans world music corp twmc 4th qtr jan 31 net
brown forman bfdb sets stock split ups payout
ici spent just under one billion dlrs for acquisitions during 1986 the largest of which was the 580 mln dlr purchase of cleveland ohio based glidden inc a paints resins and coatings company from hanson trust plc ici financial director alan clements said the companys borrowing limits are at a level of about 63 billion sterling 15 billion of which have already been used
in 1984 severe drought cut the crop to 179 mln bags
stora announced last september it would acquire papyrus at a price of 58 billion crowns thus forming europes second largest forest group after london based reed international plc reed l
sweden had a 1986 current balance of payments surplus of 76 billion crowns compared with a deficit of 101 billion the preceding year according to preliminary figures from the central bank
hemotec inc hemo 4th qtr net
the debt is rated baa 2 by moodys and bbb plus by s p
the telegraph lost 132 mln canadian dlrs last year
a tender offer of asher edelman and dominion textile ltd dtxto for burlington idustries inc is not affected by the investors sale of options to buy burlington stock according to an associate of edelman
payment date will be may 28 with the first coupon payment in 1988
at yearend 1986 aseas order backlog stood at 327 billion crowns or 48 billion dlrs up from 309 billion or 45 billion dlrs at the end of 1985
york financial corp yfed declares qtly div
normal work resumes at new zealand ports
but prawiro was quoted by indonesian newspapers as telling president suharto that inflation was kept to around nine pct in the financial year ending tomorrow against around 43 pct the previous year
at a news conference he said japan and west germany could try to stimulate their economies further by expanding money supply but he added im not so sure it would be desirable if monetary policy became more expansive
eleven contracts were terminated after no oil was discovered
he said it would take four or five months to bring operations up to full capacity if the company decides to do so adding that he believes there is a good chance noranda will fully reopen the mine
investors in industry issues french franc bond
the buyers were based in centers ranging from europe to north america and japan he added
but keating said domestic demand could fall slightly this financial year and net export growth will provide the total source of gdp growth
redstones company owns 196 pct ov viacoms 35 mln shares
it estimated 1986 production at 18 mln tonnes and forecast little change for 1987
chancellor of the exchequer nigel lawsons budget contained virtually everything the government bond gilts market had hoped for and is likely to help prices race ahead in coming months analysts and traders said
canada prime minister says a major trade deal emerging with us
british telecom sees satisfactory 1986 87 results
the bank has also agreed to publish information about the auction results as soon as possible after the sale is complete which is widely expected to be on the same day
reagan vetoed a similar measure last year
diplomatic sources said the talks had gone well and a zambian delegation would leave for washington in about three weeks to complete negotiations with the imf and world bank on a revised economic adjustment programme
trading on the london potato futures market will not be suspended richard harris chairman of the london potato futures association lpfa said in a statement to floor members
sumitomo bank aims at quick recovery from merger
michigan sealy has been in litigation against sealy alleging violations of antitrust laws and sealy was recently found liable for 45 mln dlrs in damages to michigan sealy
official inquiry set for australian wheat industry
us steel firms study usx unit price hike
mmtcs recent global tenders now include a clause that preference will be given to parties who accept payment in kind for goods and services sold to india a trade official said adding that the policy remains flexible
manning jr
and international energy agency iea estimates put opec september production at 185 mln bpd
full name is education systems and publications corp
frances economic and social council ces an advisory body comprising industrialists trade unionists and representatives of other sectors of the french economy said the countrys annual growth may not reach two pct in 1987
diamond shamrock dia raises crude oil postings
gros himself said pushing the problem away for 90 days at a time is not very useful
development of alternate energy sources such as synthetic fuels as well as increased development in alaska could lessen us dependency on foreign oil lichtblau said
the iac has been asked to report on the need for assistance to the industry and the nature duration and extent of any aid he said in a statement
representatives of the international wrought copper council iwcc and major copper producers have told the london metal exchange lme a clear statement of its forward strategy would lead to a better understanding between industry and the lme
as usual the bank did not detail total operating profits
he said sumitomo is cautiously optimistic about entering the securities business here through its swiss universal bank subsidiary banca del gottardo
ta chung hua rubber factory of shanghai will raise a 30 to 35 mln us dlr loan to expand and modernise its plant arranger ccic finance ltd said
it said crude oil production for the first two months of 1987 was off 86 pct from the comparable year ago period while crude imports were up 306 pct
hungarian economy continues unfavourable trend
this operation enables us to take up a solid position in west germany ahead of spains full integration into the ecs financial system in five years time the deal included the license for visa credit cards
okb issues 100 mln canadian dlr bond
cetec corp cec quarterly dividend
canadian pacific ltd said it retained wood gundy inc to seek a buyer for maple leaf mills ltd of toronto
international lpg prices were little changed in the past week barely affected by the excitement on the advent of opecs mid year meeting traders and industry sources said
may department stores co raises dividend to 28 1 2 cts from 26 cts a share
uk visible trade deficit narrows in february
gevirtz also declined to predict full year results but said we expect an excellent year in 1986 foothill earned 3239000 dlrs or 41 cts per share
health and rehabilitation hrp initial payout
gencorp has said a statement would be made on or before the companys annual meeting on tuesday
a company statement said hutchison forecast 1987 dividends for existing shares of not less than 325 cents a share and not less than 325 cents for each b share
s and p lowered the provinces long term debt to aa minus from aa
moodys investors service inc said it may downgrade the debt of afg industries inc and gencorp inc
s and p cut chemicals and the unit chemical new york nv s senior debt to aa minus from aa and subordinated debt to a plus from aa minus
the bill forces the administration to act rapidly on complaints of unfair trade practices such as dumping products in the united states at prices below the cost of production
the exchange they said will be made on the effective date of the merger which must be approved by both companies boards and high plains shareholders
malrite buys coxs radio station unit
no further details were available
quick and reilly group bqr 4th qtr feb 28
icn icn buys stake from eastman kodak ek 
stoltenberg said west germany had a keen interest in a swift agreement between the us and japan concerning the current trade dispute over semi conductors
despite the recent announcement of the suspension of interest payments by brazil virtually all of the banks loans to this country were income producing up to january 31 1987 and there was little adverse impact on the banks earnings prior to the announcement commerce bank said
she said evergreen had doubled its capital to eight billion taiwan dlrs since last august
texaco said the proven crude oil reserves of the company and its consolidated subsidiaries totaled 254 billion barrels at the end of 1986 down from 269 billion a year earlier
staley said the simsa transaction will not have a material effect on its balance sheet
the gas marketing unit earned 260 mln dlrs on sales of 2856 mln dlrs last year
indonesia was badly hit by last years steep plunge in crude prices which cut revenue from oil exports by half
farm fresh inc ffsho 3rd qtr net
belgian says ec would react to textile bill
the cpi came within the range of economists expectations and had little direct impact on us financial markets
japanese finance minister kiichi miyazawa expects the dollar to rebound soon a ministry spokesman said
de los angeles told the sec the companys retained earnings of 133 billion pesos would be wiped out by the purchase of the shares and would prevent the declaration of dividends
woolworth said it expects to consummate the deal later this year
the us trade deficit has become one of the governments most vexing and persistent problems
correction heineken 1986 year in item headlined heineken nv heinas 1986 year please read in first line pre tax profit 5132 mln guilders vs 4545 mln
ltd which would begin business in the first half of 1987 widened the banks activity in tokyo
the missions would promote us programs including pl480 section 416 donations export enhancement program the dairy export incentive program and export credit guarantee programs gsm 102 gsm 103 the panel agreed to drop a provision in the original bill offered by sen
reed outlined a plan to reshape gencorp in the event his group wins control
lucas industries issuing convertible eurobond
the bank had initially been reluctant to countenance a rate cut because dealers said the authorities had wished to delay a reduction until around the time of the uk budget on march 17 thereby preserving the full impact of chancellor of the exchequer nigel lawsons package of measures
shr 34 cts vs 20 cts net 2253000 vs 1332000 sales 897 mln vs 859 mln year shr 94 cts vs 64 cts net 6191000 vs 4257000 sales 3164 mln vs 2867 mln note prior year net both periods includes 2100000 dlr charge from sale of craft showcase stores
wheat by class breakdown
the wells flowing oil from the keg river formation will be constrained to combined production of about 450 barrels a day to optimize reserve recovery the company said
manufacturers national mntl raises prime
as long as his buying tactics remain the same the market is likely to stay in the doldrums and i see no indication he is about to alter his methods he added
delta announced last september that it was purchasing western
the weakness of the whole debt refinancing proposal is that even with approval of creditors there is no assurance that dome will in fact be able to repay all of its debt obligations said wilf gobert an oil analyst for peters and co ltd in calgary
traders said prices were supported by anticipation that the american petroleum institute would report a decline in domestic inventories of petroleum products in a weekly report
japanese finance minister kiichi miyazawa said the strengthening of the yen against the dollar that has occurred since the paris agreement was within the range agreed on in the louvre discussions
the securities were long term high quality bonds mostly rated aa minus or a plus he said
standard and poors corp said it downgraded baker international corp and upgraded hughes tool co to reflect the companies merger into baker hughes inc
last month the thai agriculture ministry said 1986 87 production was expected to fall to 23 mln tonnes from 248 mln in 1985 86
finnish export credit issues yen bonds
three and no
as well as cuts of over two pct in common prices for most cereals the commission proposes a limitation of intervention to the february to march period and reduced monthly increments in intervention prices
the facility will be used to fund bank of irelands new uk home mortgage subsidiary bankamerica finance ltd which will be renamed shortly
olson industries inc said it is in final negotiations on the sale of its remaining egg operations and expects the sale to generate a charge of about two mln dlrs against 1987 net income
western acreage should be up at least 20 pct said one commission house analyst whose estimate was based in part on forecasts made by the national cotton council during its annual meeting in late january
bsi was also seeking shareholder authorization for 200000 new participation certificates of a nominal value of 100 francs without rights for shareholders to back future convertible or warrant bonds or for other purposes
today it reported a loss for 1986 of 420 dlrs per share compared with a year earlier loss of 471 dlrs
ccic finance ltd year to dec 31
paribas to seek share bond issues
the pact also calls for repayment of the debt over 12 months and the application of cash proceeds from the sale of its black fin yacht corp unit
lawson foresaw london becoming the worlds pre eminent financial centre because it was more international in character and more favourably placed in time zones than new york or tokyo
banking sources in london had been quoted earlier as saying the british banks were balking at signing the package in an effort to get all participants to contribute equally to a new 77 billion dlr loan contained in the deal
at present pre market trading is almost exclusively dollar based but currency conversions have to be done during the sterling rings they added
ces president philippe neeser said one of the major fears for the french economy this year was a resurge in inflation
the increase in non auto sales was broadbased with gains in durable goods as well as non durables noted ward mccarthy of merrill lynch capital markets inc
quotas the major device used to stabilize prices under the international coffee agreement were suspended a year ago after prices soared following a damaging drought in brazil
interco inc 4th qtr shr 99 cts vs 97 cts
initially the bank forecast a liqudity shortage of some 300 mln stg for the market today
these measures include freezing management salaries abolishing vacant positions and reducing overtime
dow dow sees record annual profits in 1987
non callable for life the deal was rated aaa by both moodys and standard and poors
feldstein said he believed current third world debt problems were less serious than those faced by the international monetary system in 1983 and 1985
soviet officials have previously criticized the united states for sending naval forces into the gulf saying their presence serves to increase tension
after the close of trading the agriculture department raised its estimate for grain imports by the soviet union by two mln tonnes from the month earlier report
the interim payment to be made on or about june 30 is the full amount of the growers share of 1986 sugar proceeds received to date
us senate leaders see no trade war brewing
speaking at a press conference maxwell denied market rumors that british printing had approached british institutions to arrange a rights issue with a view to relaunching its bid for the us publishing concern
a paribas official said euratom had timed the issue to coincide with the 30th anniversary of the treaty of rome
ico producers to present new coffee proposal
it floated its currency slashed spending and privatised industry gaining praise from western creditors and obtaining debt rescheduling
stryker corp said it acquired hexcel medical corp a wholly owned subsidiary of hexcel corp
the basic problem of the ems is that governments are not prepared to make the quantum leap to a situation where certain decisions are taken in common said one economist who has closely watched the systems development
under a verbal understanding between the two ministers argentina will soon abolish export taxes on soybeans and products us and argentine officials said
sales rose to 131 billion dlrs from 113 billion dlrs
the recent rise in prices has placed producers on the alert manuel rico a consultant with the group of latin american and caribbean sugar exporting countries geplacea told 
qtr ends may 31 shr 20 cts vs eight cts net 509043 dlrs vs 202473 dlrs revs 2106462 dlrs vs 1158621 dlrs nine mths shr 58 cts vs 50 cts net 1465271 dlrs vs 1240773 dlrs revs 5854819 dlrs vs 4640687 dlrs
smit tak which with its west german subsidiary harms bergung gmbh was commissioned by the local water authorities to raise the vessels said its lifting fleet was in position and divers had made the first inspection
he noted most estimates are that corn sweeteners will capture at most only another 10 pct of the sweetener market in the us but he said if there were an economic breakthrough in the production of a new crystalline corn sweetener which further expanded the corn sweetener share then us sugar imports might be eliminated and us sugar output severely reduced
the sources said the government would fall far short of covering all of its 40 billion marks in lost revenue from the tax reform by making expenditure cuts and would be forced to fall back on debt markets in one form or the other
the fully underwritten program which expires this month has been extended to december 1990 and increased to 540 mln hk dlrs from the original 500 mln dlrs it said
if we write it all off and declare defeat these countries will decay and wither on the vine the treasury secretary said of an end to capital inflows that would follow debt relief
the company previously said it expects to detail the plan to lenders early next week
republic american rawc plans exchange offer
corn mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 12308 12311 6109 6175 production 47726 48029 48186 48192 imports 6103 5859 6212 6208 feed use 29549 28947 28653 28742 ttl domes 44478 43980 41988 42055 exports 6280 6210 6253 6215 end stocks 15556 16361 12308 12311 note world imports exports may not balance due to differing marketing years grain in transit and reporting discrepancies
stals the countrys chief foreign debt negotiator said we are busy finding out how they banks feel
it said the 80 cf6 80c2 engines are worth more than five mln dlrs each
the company further said that the second quarter will be transitional period and that earnings growth will resume in the second half of 1987
if it stabilises firms will grow more confident and raise investment in plant and equipment although there are no signs of that yet economists said
fauber said the sales growth came from greater consumer acceptance of k marts apparel merchandise a marked increase in hardline merchandise sales and a growing contribution from specialty retailing operations k mart said its fourth quarter pre tax income from continuing operations was 493 mln dlrs a 323 pct gain from 3726 mln dlrs last year
the strong response to the package was partly the result of the inducement of a 3 8 pct early participation fee for those banks that agreed to sign up by june 17 bankers said
canadian pacific cp unit studies pulp mill
bolivia halted all payments on its commercial bank debt in march 1984
jardine matheson holdings ltd jardhkg said it planned a bonus issue of four new b shares of 20 hk cents each for every ordinary share of par value two dlrs
colombia opens coffee registrations ldn trade
the company said under the agreement prex holders would receive new medco shares representing a pro rata share of the 9159552 medco shares now owned by porex plus a pro rata shares of the cash value of other porex assets which is estimated at 60 mln dlrs subject to adjustment
duff and phelps said it lowered the ratings on beneficial corps senior debt to dp 7 low a from dp 6 middle a and preferred stock to dp 8 high bbb from dp 7 affecting approximately four billion dlrs in debt
pinola said while its coastal state banks are in good financial condition first interstate continues to sustain serious loan losses in its rocky mountain states where energy real estate and agriculture dominate the economy
after her talks with ryzhkov thatcher and the soviet premier were joined for the signing of agreements covering new scientific and cultural exchanges by kremlin leader mikhail gorbachev who had nine hours of talks with her yesterday
a hearing on the counterclaim is scheduled for march 19 and 20
inflation meanwhile is expected to stabilize at around the current four pct level over the next two years
it closed at 15000 05 on monday
taiwan power firm plans more foreign debt cuts
baker says he stands by paris currency agreement
a number of presentations have been made with regard to renovating the financial futures room sladoje said
anadarko petroleum corp is raising 100 mln dlrs via an offering of convertible subordinated debentures due 2012 with a 5 3 4 pct coupon and par pricing said sole manager kidder peabody and co inc
electrolytic refining lowers copper price
armtek arm completes sale of assets
graphic media inc gmed year
issue cost including fees will be 48 pct or 09 percentage point below the march issue rates for japanese electric power company bonds
it is too early to comment because i havent seen the whole document yet but it would seem we are more pessimistic in some of our estimates a pierson economist said
irans discounted sales have not however managed to reverse the bullish tone in the crude oil and products spot markets oil traders said
iran said us naval forces attacked two of its oil platforms in the southern gulf on monday afternoon the iranian news agency irna reported
prices could easily drop to as low as 100 dlr or even 80 cents a lb this year from around 125 dlrs now they said
union pacific corp said it will sign a pact in caracas on march 17 with petroleos de venezuela pdvsa to sell the state owned company half of its corpus christi texas refinery owned by its union pacifics champlin petroleum co subsidiary
the fed said that business loans including acceptances declined 492 mln dlrs to 28056 billion dlrs
subroto attending a pacific energy cooperation conference blamed recent rapid spot price changes on unbalanced supply and demand
foreign turnover dipped to 143 billion marks from 145 billion in the first half of last year although the export quota rose to 83 pct from 79 pct
circuit city stores inc cc sets quarterly
japan cannot bear further yen rise minister says
cpc international inc said it has completed previously announced transactions involving its grocery products businesses in four asian countries with ajinomoto co inc ajint raising about 300 mln dlrs
the company said both agreements in principle have been approved by directors of the companies involved but still need court regulatory and lender approval
for its part the united states is apparently content to let the dollar fall gradually further and is paying little more than lip service to the february paris agreement of the group of five plus canada to foster stability dealers say
first wisconsin corp said it has agreed to acquire north shore bancorp inc of northbrook ill for 6160000 dlrs in cash or slightly more than twice book value subject to approval by north shore shareholders and regulatory authorities
carolin also said it expects to receive results of further tests and assays of the tailings within two to three weeks
two small shipping companies reached a pay deal with striking seamen late yesterday but union leaders said most of brazils 40000 seamen were still on strike
malaysia was also happy that in the new inra financing of purchases for the normal buffer stock of 400000 tonnes and a contingency buffer stock of 150000 tonnes would be done through direct cash contributions from members he said
it will redeem 184 billion yen at 10300 and the rest at par this august 18 under an annual redemption obligation probably because of declining yen interest rates daiwa said
but endaka like many japanese products is for foreign consumption locals and long time foreign residents said
national gypsum ng unit joins japanese firm
the issue will raise 106 mln stg which will be used for further development of the holmes business
speaking at a meeting for securities analysts douglas danforth westinghouses chairman said the companys sales growth target is about 85 pct a year for 1988 and 1989 given an economic environment that remains on a moderate growth course he also said the company will make acquisitions but he did not specify particular targets
the approval was the final regulatory step in the affiliation process which began in august amsouth said
class a qtly div 2 1 2 cts vs 2 1 2 cts prior class b qtly div 1 1 2 cts vs 1 1 2 cts prior pay may 8 record april 24
this treatment requires that the costs associated with the transaction be expanded rather than capitalized as an intangible asset the company said
analysts say new dow components aid average
uk agricultural futures markets to merge
financial corp would need over one billion dlrs to bring its regulatory net worth up to federal savings and loan insurance corp requirements the spokeswoman said
it gave no details on the size of the offering
energy and mines minister arturo hernandez grisanti said the conference has no set agenda but one entire session friday will be devoted to proposals for a tax on imported oil
french 13 week t bill average rate falls to 735 pct from 737 pct official
agriculture ministry sources said the producer rice price paid to rice farmers would be cut after discussions by the rice price council an advisory body to the ministry on july 1 and 2
the regions 1986 trade surplus was halved to an estimated 15 billion dlrs he said
the bank of england will step up reporting requirements for primary dealers in uk government gilts during the when issued trading period in between the date an auction is announced and the date the sale is actually held
mitsui mitsy security pacific spc set pact
it should not spill over to the overall market like ltv corps ltv bankruptcy filing did last summer said one analyst
eurodollar turnover during february was 140417 lots against januarys 100941 and the year ago figure of 81648
the itc found that brazilian orange juice imports have injured us producers
dart group said it offers to buy supermarkets general at 4175 dlrs shr
he added that the meetings will also provide an opportunity to discuss economic policy coordination efforts
the plan also contemplates the recapitalization of preferred stock whereby each share will be converted into three shares of common stock
new applications for unemployment insurance benefits fell to a seasonally adjusted 332900 in the week ended feb 21 from 368400 in the prior week the labor department said
french finance minister edouard balladur issued a firm call for the continued faithful application of the louvre accords on currency stability by all major industrial countries
the polymer division based in aurora ohio had 1986 sales of 86 mln dlrs fluorocarbon also said
the last thing they want to do is reduce them rates and have to jack them back up again said richard jeffrey economist at brokerage house hoare govett ltd
semi annual dividend 4 cts pay may 29 record april 14 note full name is us facilities corp
individual segments in many countries may lose in the process but it should result in a more rational system of world wide production within 10 or 15 years he said
hughes supply inc hug 1st qtr april 30 net
other firms might not be so lucky he said and they could find it difficult to preserve their independence when the bull market ends
payment is set for may 7 and the securities will be listed on the luxembourg stock exchange
cheyenne said the purchase price would be paid in common stock and it would provide additional finances for the operation of fa
operating revenues 54 billion guilders vs 59 billion
the plan involving concessional rescheduling of sovereign debt in the paris club was first proposed at the imf and world bank meetings in washington earlier this year
the debentures are convertible into the companys common stock at 2784 dlrs per share representing a premium of 28 pct over the stock price when terms on the debt were set
oshap technologies ltd oshuf year loss
the stocks in tonnes with february and year earlier comparisons were march 87 feb 87 march 86 crude rubber 41536 42094 49551 synthetic 3334 3978 4044 latex 110 126 189
the union said that darts safeway bid forced a major restructuring at safeway to pay the hafts and their lawyers and caused a loss of thousands of jobs
the company reported earnings for the year ended january 25 of 617000 dlrsl up from 112000 dlrs a year before on sales of 313 mln dlrs up from 114 mln dlrs
michigan general corp said it agreed to sell substantially all of the assets and certain liabilities of its krestmark subsidiaries to lcb holdings inc for 65 mln dlrs cash
cyclops said the moves followed the announcement earlier today by dixons that it received only 20 pct of cyclops outstanding common stock under an extended tender offer that expired yesterday
dixons group plc dxnsl has sold 83 mln shares in woolworth holdings plc wlthl through salomon brothers uk equity ltd a statement from salomon said
gencorp said its statement would be made on or before the companys annual meeting scheduled for tuesday
no fees were disclosed
raw sugar futures had a quiet opening call of 38 lots with prices holding steady from last night with gains of 20 to 80 cents a tonne dealers said
ten pct of the capital to be floated will be reserved for employees with the rest offered to the public
ecuador was forced to suspend exports after the pipeline connecting its jungle oil fields with the pacific port of balao was put out of action
us subcommitee approves international debt bill
energy and mines minister arturo hernandez grisanti today told a meeting of regional oil exporters the next few months will be critical to efforts to achieve price recovery and stabilize the market
we hope that in time markheath will become a significant property and industrial company in the same style as adsteam spalvins said in the statement
canada approves us gas exports by progas
levon said re checked assays from zone two averaged 0693 ounces of gold a ton
citing the view shared by the other two economists leuzzi said the fed cannot really afford to seriously lift interest rates to help the dollar because that would harm already weak economies in the united states and abroad and add to the financial stress of developing countries and their lenders
city national corp ctyn 1st qtr net
he said that merging southern with kansas city will achieve the benefits of an end to end merger while preseving the independece of the southern pacific versus its existing prime competitor santa fe
but a consistently higher funds rates would suggest to many that the fed was fostering somewhat higher interest rates to help the dollar
cpc said the defendants which include the company its directors salomon and perelman deny all the allegations of improper conduct and are defending the suits
it said any fractional shares will be redeemed for cash reducing its free trading stock in public hands to 1300000 shares from 20 mln and its total shares outstanding to 1993000 from 299 mln
banks which found this rate unacceptably low would be offered an alternative of libor payments in cash plus a margin of one pct in the form of philippine investment notes pins bankers explained
in the fiscal year ended october 31 1985 sulpetro had a net loss of 456 mln dlrs or 390 dlrs per share
net profit rose to 185 billion lire from 448 mln lire in 1985
mead corp said the outlook for its major paper markets looks strong for the second quarter and augurs well for its earnings in 1987
omer said it will be difficult if not impossible for sudan to pay a scheduled 417 billion dlrs in principal and interest payments over the next five years
he said the seamen had not received a pay increase since february 1986 and prices have doubled since then with the collapse of the governments cruzado plan price freeze
mobil mob has north sea natural gas find
kansas said santa fe in petitioning for reconsideration now argues that the trackage agreements with the union pacific the denver and rio grande western and other railroads adds to the value of the merger
pda engineering pdas halts software shipments
brazilian delegate lindenberg sette said that if quota negotiations were to resume the 10 mln bag shortfall brazil was willing to give up in early march if the producer proposal was accepted would no longer be on the table
it said samsung will take care of the korean part of the engineering and electrical work the water treatment and other mechanical equipment according to krupp basic engineering
handbook 8 10 is based to a certain extent on information that has been accumulated over the past 30 years
kansas exchange hits cftc position limit plan
ford f launches mark eurobond with warrants
tom harkin d iowa sponsor of the bill told he did not intend to offer his measure as a floor amendment but to bring it through the committee
comstock group inc cstk 4th qtr loss
douglas said in a statement the june quarter borrowing program will not include a may tender but a 250 mln dlr tender will be held on june 11
they are worried that it might take a long time to persuade the other banks to join the deal
the union said the total severance payment will be about five mln dlrs
if the fed approves lerner whose equitable bancorp is also in cleveland said he intends to buy more ameritrust stock subject to market conditions and other factors
the subsidies were immediately restored as part of moves to quell the disturbances but they are estimated to cost the government about 500 mln kwacha per year
first granite which has 675000 shares outstanding as of dec 31 1986 had assets of 1865 mln dlrs
corby said it expects to benefit from mcguinnesss succesfull introduction of schnapps and coolers and its strength in traditional market sectors
we dont want to make waves
questioned by journalists the minister said president felix houphouet boigny estimated for the moment that his government would not be forced to reduce the price guaranteed by the state to ivorian coffee growers for the current season
revolving credit in january fell by 366 mln dlrs after rising by 552 mln dlrs in december
hillards shares at 0900 gmt were quoted one penny firmer at 317p while tesco was one penny easier at 479p
istats industrial production index base 1980 not seasonally adjusted registered 933 compared with 966 in january 1986
it said the discovery was made in sands previously untested in the area
asked what the imf has stipulated as a critical mass sourrouille said that has not been defined but anywhere over 90 pct we are doing fine although most of the money has been subscribed officials noted that about a third of argentinas 350 creditor banks hold 93 pct of its debt
computerland also said its network retail sales in 1986 totalled 145 billion dlrs
the firm is sustaining a trend that first emerged in early 1986 investment bankers said
kelman said the sale of delhi would enable csr to focus efforts on expanding business areas such as sugar and building materials in which csr has had long and successful management experience and strong market leadership
the debentures are convertible into the companys common stock at 6250 dlrs per share representing a premium of 2563 pct over the stock price when terms on the debt were set
it was a very very prudent fiscal budget richard jeffrey of brokers hoare govett said it was a well balanced budget within the confines of the governments philosophy of keeping expenditure levels flat
the european communitys ec executive commission defended attacks on major elements of its ambitious program to rid the ec of its controversial farm surpluses after strong attacks from northern states
qtly div 30 cts vs 30 cts prior pay april 30 record april 15
the move accelerated the dollars decline as financial markets grew alarmed that trade war was in the offing
intl game technology igam to sell debt
it hasnt been critical by any means said a coffee trader in santos who noted that coffee was still moving on foreign ships
the finance ministry official said the government must constantly consider ways to improve markets for the benefit of borrowers and investors
zambian politicians have frequently criticised the fund however and diplomats say president kenneth kaunda faces consistent opposition inside the ruling partys central committee over dealings with the imf
assets totaled about 8440 mln dlrs as of december 31
colombian tax authorities are investigating occidental a us owned firm for alleged tax evasion
cardenas said the market situation was getting clearer because the trade knew the projected output and stockpile levels of producers
shr loss 331 dlrs vs profit 94 cts net loss 6073000 vs profit 1823000 revs 589 mln vs 692 mln
it gave no reason for the sales
with a five year grace period its interest rate is currently estimated at 792 pct but would be variable it said without indicating with what it would vary
allen sinai chief economist at shearson lehman brothers inc told congress this week that inflation would rise to 45 to five pct this year and stay at that level through 1989 after a 11 pct increase in 1986
an alcoa aluminum company of america source involved in terminal trading for the company said we use all means available to manage our business so its a possibility were trading options we wont go into specifics about what were doing
1986 4th qtr and yr oper net excludes 8308000 dlrs or 152 dlrs per share and 7774000 dlrs or 154 dlrs per share respectively for equity in net income of spun off unit
finance minister kiichi miyazawa told parliaments lower house finance committee that the us is expected to intervene in the foreign exchange market to stabilise exchange rates political sources said
in the primary market activity again centred on currencies other than the us dollar dealers noted
australias ansett to take 20 pct of america west
the pentagon will ask the national security council in the white house to prohibit the sales
municipality of toronto issues canadian dlr bond
underwriters for the offering were not named in the draft prospectus
campeau announced its first agreement to sell an allied unit in april the company said
it said other operating groups have been established through acquisitions
both schlumberger and fujitsu are foreigned owned companies
they compared with profits of 5517 mln dlrs in 1985
the officials confirmed a new york times report that kuwait wants to transfer some of its oil tankers to us or soviet registration in hopes iran would be reluctant to launch new silkworm missiles at superpower flags
the periodic reviews are to continue and the remaining sanctions to stay in force the officials said until japan is in full compliance with the semiconductor agreement
shr 12 cts vs 19 cts net 369000 vs 358000 revs 7076000 vs 6712000 avg shrs 3050000 vs 1850000 nine mths shr 53 cts vs 63 cts net 1523000 vs 1158000 revs 226 mln vs 207 mln avg shrs 2852198 vs 1850000
accepted bids ranges from 561 pct to 564 pct and 29 pct of the bids at the high or stopout rate were taken
central pennsylvania financial corp cpsa payout
the three units lost 900000 dlrs or 19 cts a share in the six months ended december 31
argentine officials said they might halt debt payments last month if creditor banks did not agree to a new 215 billion dlr loan
puritan bennedtt corp said it has acquired a majority interest in medicom inc which makes a heart monitor for use in diagnosing heart disorders for undisclosed terms
however the figures exclude exchanges with the eastern bloc paid in non convertible indian rupees the sources said
the volume of exports in the first two months of the year rose slightly on a year on year basis after declining toward the end of last year
taft tfb rejects 145 dlr shr offer
yesterday minneapolis based nwa reported fourth quarter net of about 98 mln dlrs or 45 cts a share against a loss of two mln dlrs or nine cts in the 1985 quarter
honeywells actual loss in 1986 was 833 dlrs a share
geraldton tampico 13500 mt bulk mineral sands fio 10000 2000 1 10 5
the bank of england said it had provided the money market with 75 mln stg help in the morning session
philippine coffee exports are expected to fall sharply due to a combination of the international coffee organisations ico decision not to revive export quotas and higher local prices ico certifying agency official dante de guzman told 
its the momentum beyond this year thats important
hard red winter wheat should comprise the bulk of the stocks followed by spring wheat he said
net earnings for first three months of 1986 restated to reflect reduction of 148000 dlrs resulting from increase in effvective income tax rate
grain mill product loadings in the week totalled 10920 cars up 01 pct from the previous week and 127 pct above the same week a year earlier the association said
the fire destroyed a large sector of the main conveyor from the raw sugar jetty to the weighhouse
the investment in one of wall streets top brokerage houses is likely to pay off in dollars and international market position they said
the us agriculture department forecast south africas 1986 87 corn crop at 850 mln tonnes vs 950 mln tonnes last month
it also said revenue growth should continue during the year and the company should experience improved profitability in the second half when acquisition and new product introduction costs will not have a significant impact on earnings
the philippines last month won an agreement to reschedule 103 billion dlrs of debt over 17 years at an interest rate of 7 8 pct whereas some 30 billion dlrs in old argentine debt will be stretched out over 19 years with a spread of 13 16 pct
amsouths assets are about six billion dlrs
after an already steep fall in the past week us interest rate futures may be in for further declines in the near term financial analysts said
brierley offer for progressive still valid
west german first quarter cocoa grindings which rose 29 pct from the same 1986 quarter were within expectations trade sources said
the bonds yield 610 pct at issue and will be sold from april 2 to 7
the bank of france in conjunction with the bundesbank and other central banks intervened heavily in foreign exchange markets between late december and the january 11 ems accord in an attempt to hold down the mark which was attracting a flight of funds from the dollar and simultaneously shore up the franc
the rise was due to higher commercial banking and retail deposit service fees and higher foreign exchange revenue but lower securities commissions from international investment bank operations partly offset the gains royal bank said
a cut in bank base lending rates is now widely expected tomorrow with most forecasts predicting a half point fall
schroeder hohenwarth told a news conference the further fall of the dollar since the start of this year and the revaluation of the mark against european currencies meant west german exporters were facing a rough wind however domestic demand was continuing to rise and private consumption in particular would support the economy he said
us senators say sanctions likely on microchips
general partners also said it would maintain gencorps plastics and industrial products division as well as tires and related products
other export dependent industries such as cars and textiles have laid off part time employees and ceased hiring economists said
for 1986 the companys earnings rose five pct to 316 mln dlrs on revenues that increased eight pct to 47 billion dlrs
within the current account the services account had 300 mln marks deficit supplementary trade items a 200 mln mark surplus while transfer payments posted a 37 billion mark deficit
lewis horowitz president of the new york futures exchange said the new york stock exchange board yesterday approved in principle an agreement to relocate the futures exchange at the new york cotton exchange
vw has no comment on seat loss reports
domestic group 1986 net profit rose to 10579 mln marks from 8071 mln
jordan obtains 988 mln dlrs in loans
british bank base lending rates are likely to fall by as much as one full point to 9 1 2 pct this week following the sharp three billion stg cut in the uk central government borrowing target to four billion stg set in todays 1987 budget bank analysts said
excluding these basf corp turnover rose four pct from 1985
yugoslavia this year started quoting trade figures in dinars based on current exchange rates instead of dollars based on a fixed exchange rate of 26453 dinars per dollar
the exercise period runs from april 8 1987 until march 6 1989
yugoslavian bank gets 90 mln dlr world bank loan
march april sold at 4340 4345 and 4350 dlrs
sumita said the bank of japan will continue to pursue adequate and flexible monetary policies while watching economic and financial developments in and outside japan
gateway bancorp inc gban 1st qtr net
analysts said that while the use of undisclosed inner reserves by banks here makes forecasting very imprecise hongkong bank benefited from the unexpected strength of the hong kong economy in 1986 when gross domestic product grew by nearly nine pct against an initial forecast of 45 pct
greenspan just does not have the intuitive feeling one banker said
shr 45 cts vs 43 cts net 1503000 vs 938000 avg shrs 3358664 vs 2158664 note company had its initial public offering of 1200000 shares in october 1986
datacopy corp dcpyo 3rd qtr net
the overhaul is expected to end by late april
however dub said the bank of america securities were more closely related to the so called cars deals that raced to market last year than were the republicbank securities
baker also noted the nations agreed in the accord to co operate to foster greater exchange rate stability around those levels he refused to comment directly on the current yen dollar rate but said flatly that foreign exchange markets recently tended to draw unwarranted inferences from what i say baker was quoted on british television over the weekend as saying he has no target for the us currency a statement that triggered this weeks renewed decline of the dollar
the company also said that due to the sluggish marketplace it does not expect to be profitable in the first quarter but is optimistic about the outlook for the year
it said its proposals would permit limited access to news materials from affiliates and subscription services and allow cable news network to join network pool facilities
producers fear estimates may yet have to be adjusted down further
instead the community is trying to target problem areas in european trade with japan including wines and spirits cosmetics and financial services and will continue talking to try to improve the situation the diplomats said
the companies said the agreement is subject to federal home loan bank board approval expected later this year
the airline also announced it acquired a 65 pct stake in ems corp of calgary an in city messenger service
peter beutel analyst at elders futures inc said crude oil futures contracts on new york mercantile exchange rose to new highs this afternoon following news of the pipeline break
hackmann said record corn yields also are possible and the crop could reach 71 billion bushels which would be down from last years 825 billion bushels
outboard marine om officials hawking stock
it is commonplace to have trades of 100 mln dlrs or more in 10 years seven years or five years all related to an interest rate swap or hedging of a eurobond deal jones said at a recent conference on the us treasuries market
rank xerox said that of the 800 man workforce of rank xerox south africa 40 pct are black colored or asian
houston metals said gold silver and the base metals have recoveries of 90 pct to 95 pct with 95 pct of gold recovered from better gold ores while gallium germanium and indium have recoveries of between 66 pct to 82 pct and are included in the zinc concentrate
drilling for oil in california is likely to continue at last years sharply reduced levels despite recent gains in crude oil prices industry analysts said
saba said that japanese chip companies have pledged three mln dlrs over the next five years to the new organisation and expressed regret that no american company has seen fit to join
the reduction will hold through may 15 it said
yankee cos inc said its eskey inc esk subsidiary has decided not to sell its yale e
tietmeyer remarked that the dollar had hardly moved against the mark since the meeting
period end jan 31 shr loss one cts vs profit eight cts net loss 52198 vs profit 602766 revs 186 mln vs 7833424 nine mths shr profit 10 cts vs profit six cts net profit 809243 vs profit 393372 revs 363 mln vs 187 mln
but like everything else theres a catch
if pubco is acquired in a merger or other transaction each right will entitle its holder to purchase at the rights then current exercise price a number of the acquiring companys common shares having a market value at that time of twice the rights exercise price the company said
proxmire said he favored the approach used in britain towards two tiered tender offers that insures that all shareholders recieve equal treatment
the warrant exercise period is from may 1 1987 until may 20 1991
us lard consumption in february
afbf president dean kleckner made the comments in response to the ruling earlier today by the canadian import tribunal that subsidized us corn imports were injurious to canadian growers
china comes third with 58000 bpd
bangladesh port workers end strike
seizer is experienced in turnaround situations and is expected to take direct involvement in river oaks management said charles f
datatrak inc dtrk 3rd qtr feb 28 net
sec probes 1986 tre tre takeover attempt
a study published in the new england journal of medicine yesterday stated that the spread of an unusual strain of salmonella that is resistant to the drug chloramphenicol had been shown to be linked to farms that used the drug to promote the growth of cattle
at the end of february total bank credits to the private sector were 4 1 2 pct above the february 1986 level
these missiles pack a fairly big punch he told 
boliden spokesman goran paulson told the swedish group would be responsible for the technical side of the operation and would have no control over the product itself
asian revaluations
pre interest profit 1321 mln vs 1246 mln
other analysts also noted that cattle are coming off wheat pasture sooner than normal because of poor pasture conditions
if they imports move above that level a fee may not be legislated but there will certainly be pressure for some form of action but lichtblau in a telephone interview said a 50 pct rate of import dependency is not likely to happen before 1990
speaking to reporters during weekend trials for the new ax sports model he said all the budgetary forecasts that we have been able to make show a relatively significant improvement in 1987 compared with 1986 he added
it also froze some 16 billion dlrs of short term credit lines which banks were committed to provide until march 31
british printing filed suit in us district court in manhattan to block what maxwell called a fraudulent recapitalization announced by harcourt last week
the issue is available in denominations of 1000 and 10000 australian dlrs and is guaranteed canadian imperial bank of commerce
the turkish central bank set a lira dollar rate for march 10 of 77305 77692 to the dollar down from the previous 76960 77345
overseas production will account for 35 pct of its total production in 1990 from the present 20 pct
exercise price for the warrants has been fixed at yen 2817 representing a 253 pct premium over the latest tokyo close adjusted for a free share issue this month
the french ship capitaine wallis 13847 dwt berthed at the port of geelong in victoria today to load 8000 tonnes of urgently needed wheat for fiji after australian port unions partly lifted a trade embargo shipping sources said
it depends on oil prices one said
eqk green acres lp ega raises quarterly
there is quite a list of industries that utilize fructose
fabri centers fca 4th qtr ends jan 31 net
santos says it has significant oil find
were under no illusions about the legal binding force of these recommendations he said
there is a 7 8 pct selling concession and 1 2 pct combined management and underwriting fee
wyatt jr unlawfully interfered with agreements it previously reached with its creditors causing the company significant damage
toll tol in stock split public offering
the cash dividend is payable april 14 to holders of record march 30 and the stock dividend is payable april 17 to holders of record march 31
it applies until july 1 to uranium ore and oxide imported into the us for processing and re export to third countries
the figures for the same month last year were 314 mln and 2086 mln dlrs respectively
endotronics said the notice from its accountants stated we cannot satisfy ourselves as to the true facts of the situation to a degree necessary to continue to be associated with such consolidated financial statements endotronics recently reported that it was reviewing the need to establish a reserve for all or a portion of approximately 3686000 dlrs in overdue accounts receivable and to assess the impact if any on prior period financial statements in light of a dispute with one of its japanese distributors over payment of the overdue accounts
there are also reports from australia canada and argentina that plantings have been reduced he said
it said the redemption price is 10372 dlrs a share plus accrued and unpaid dividends from april one to may one of 68 cts per share for a total of 19440 dlrs a share paid to shareholders
shr 31 cts vs 20 cts net 3541000 vs 2071000 sales 299 mln vs 145 mln avg shrs 116 mln vs 104 mln note fourteen vs 13 week periods
irving trust v raises prime rate
frawley said there had been a tremendous growth in demand for chilled lamb in the last four to five years and he predicted this would continue
willcox and gibbs inc wg 4th qtr net
they said the fed is reluctant to lower short term rates for fear this would spur expectations of a weaker dollar and higher inflation which would push up long term yields and choke off econmomic growth
in addition accruals are being made for costs associated with the companys reduction in its sunnyvale work force
the planned issue will be of two fixed rate tranches of the 850 pct june 1997 and the 850 pct december 2012 stock and one tranche of the variable rate january 1999 stock
we are looking at financial services and other manfacturing companies however she said the company was not targeting the us for its planned expansion but was looking at a number of different countries
instead it appointed a committee of independent directors to study strategic alternatives for the 170 year old firm
kenya has for a long time relied on britain pakistan egypt and to a lesser extent the united states as major markets for its tea the sources added
it bid them at 98859 and set a 9 3 8 pct coupon and reoffering price of 9975 to yield 170 basis points over the off the run 9 1 4 pct treasury bonds of 2016
a uk treasury official said that it was important to look at all the monetary information not just the bank lending adding that monetary aggregates were growing much more slowly than bank lending
foreign exchange fix is yen 15465 dlr and payment date on the deal is march 20
latin americans are unwilling to go below 40 pct which would oblige the us to line up two other voters or voting blocs on its side
firs slightly raises ec beet sugar output estimate
as a result hundreds of institutions collapsed or were forced to merge
tunisia is expected to tender april 14 for 100000 tonnes of french soft wheat for delivery between may and august and which would be covered by the french export credit agency coface export credits traders said here
he holds a 33 pct stake
in the north sea market small cargoes of propane were sold as high as 126 dlrs per tonne on the fob basis early in the week but prices eased after the majors posted their april contract prices traders said
sprinkel also called the reference to stabilizing exchange rates at about current levels made at the paris meeting on february 22 a vague statement casting doubt on operators assumptions that a secret target level had been set
the placement of the german federal governments 256 pct stake in utility veba ag vebgf would probably take place early next week banking sources said
it matures on april 8 1992
the company said it sold dublin calif based plant cell research to montedision spa of milan italy and arco seed co to uf genetics of hollister calif
in the senate a leading republican senator former senate appropriations committee chairman mark hatfield of oregon said he would try to prevent consideration of the bill
west german sugar production last year rose 38000 tonnes to an estimated 317 mln tonnes the agricultural ministry said
general public utilities corp gpu two mths net
as long as the groups stake is below five pct it is not required to disclose its further dealings in national distillers common stock
state and private agencies contracted to export 134 mln bales in 1985 86 he told journalists
the securities and exchange commission sec staff is seeking authority to take enforcement action against allegheny international inc the pittsburgh based industrial and consumer products firm said
meyer who had been executive vice president of honeywell information systems said honeywell bull would work closely with nec and bull in both developing new products and marketing computers to multi national companies
houston oil trust said there will be no royalty funds available for distribution to unit holders in april
xp system is based in the southern dutch airport of maastricht and has an annual turnover of 100 mln guilders
loans to brazil at 1986 year end totaled 474 mln dlrs according to the annual report released at the briefing
india will hold a buying tender on wednesday march 4 for two to three cargoes of white sugar for march april shipment traders said
non refundable for 10 years the issue is rated aa 3 by moodys and aa minus by s and p
manufacturers national corps manufacturers bank wilmington said it increased the interest rate on its no fee variable rate mastercard to 136 pct from 133 pct
the employees remaining after that will operate the new plant it said
the ontario government has urged ottawa to require foreign companies to obtain permits to import steel into the country
shr profit 32 cts vs profit eight cts net profit 936000 vs profit 249000 revs 348000 vs 1150000 year shr loss 215 dlrs vs loss 19 cts net loss 6095000 vs loss 469000 revs 1554000 vs 4254000 note results include credits of 556000 and 1141000 for the latest qtr and yr vs 112000 and 656000 for prior periods from tax loss carryforwards
cyclops cyl names dixons officials to board
us court upholds apex decision favoring nymex
glenn english d okla and dan glickman d kan agreed to support an amendment to be offered next week by rep
payment date is april 28
standard and poors corp said it downgraded first interstate bancorps 13 billion dlrs of debt because of higher levels of non performing assets
jamaica buys us pl 480 corn wheat and rice
one for five bonus issue third qtr net 2060 mln dlrs vs 2386 mln third qtr sales 211 billion vs 210 billion
qtrly div 10 cts vs 10 cts prior pay april 30 record april 21
it said sales fell about 10 pct from the year earlier 1049 mln dlrs
commercial national corp said it cut its quarterly dividend to 15 cts per share from 25 cts due to current expectations for 1987 earnings
the company also has a refinery south of san antonio where it will be headquartered with a capacity of 35000 bpd
baker was scheduled to visit scandinavia and belgium this week and the department earlier refused to release details of his travel itinerary citing security considerations
the un security council was called to a private meeting on monday for consultations following the united states attack on an iranian oil platform
arranger for the facility is county natwest capital markets ltd while national westminster bank plc will act as issuing and paying agent rank added
shr 73 cts vs 60 cts net 43792000 vs 36480000 rev 178 billion vs 134 billion year shr 149 dlrs vs 161 dlrs net 88974000 vs 94647000 rev 535 billion vs 404 billion note 4th qtr net includes pre tax gain of 97 mln dlrs from sale of real estate and real estate development company
donegal group inc dgic year net
normally when an outbreak occurs there is an automatic suspension of beef exports one industry source said yesterday
oper shr loss two cts vs profit eight cts oper net loss 77000 vs profit 285000 revs 3781000 vs 4721000 year oper shr profit 23 cts vs profit 26 cts oper net profit 90400 vs profit 952000 revs 190 mln vs 151 mln note current qtr and year figures exclude losses from discontinued operations of 303000 dlrs or seven cts per share and 354000 dlrs or nine cts per share respectively
quantech qant needs additional funds
figueroa said gdp grew by almost nine pct in 1986 while inflation dropped to 63 pct from an annual rate of 280 pct in the first half of 1985
it gave this breakdown for opec crude output in mln bpd fourth qtr 1986 january 1987 february 1987 saudi arabia 49 37 38 iran 16 22 19 iraq 16 16 17 uae 13 12 12 kuwait 10 10 10 neutral zone 05 04 04 qatar 03 03 02 nigeria 13 12 12 libya 10 10 10 fourth qtr 1986 january 1987 february 1987 algeria 06 06 06 gabon 01 02 02 venezuela 16 16 16 ecuador 02 02 02 indonesia 13 12 12 total 173 165 161 the iea said while saudi production stayed below its quota of 4133 mln bpd actual sales might exceed output due to norbec stock disposals
f
microbilt corp bilt 4th qtr jan 31 net
the wall street journal which selects the index said inco was dropped to make the index more representative of the market
du pont dd unit to redeem notes
economic activity continues to suffer due to the sharp fall in export earnings from the petroleum industry growth in the non oil sector is low because of weak domestic demand coupled with excessive plant capacity real declines in construction and trade and a reduced level of growth in agriculture the report states
centel corp cnt regular payout set
the companys outstanding issues are rated aa minus by standard and poors corp
the unit will be headquarted in southern california it said
a lot of the big deals there have already been done but medium size and small concerns are potential targets of japanese companies the specialists said
shr not given oper loss 5900000 vs profit 9300000 revs 1053 mln vs 1312 mln year shr not given oper loss 217 mln vs profit 347 mln revs 3707 mln vs 5151 mln note 67 pct owned by british columbia resources investment corp note continued 1986 qtr excludes extraordinary loss of 36 mln dlrs versus loss of 2940 mln dlrs in prior year 1986 year excludes extraordinary loss of 791 mln dlrs versus loss 2215 mln dlrs in prior year
operating profit 259 mln stg vs 265 mln making 112 billion stg vs 949 mln
miguel guerrero director of the dominican republics national sugar institute said it would be difficult to boost production even if prices recovered sharply
imperial chemical industries plc icil said it had today placed its 194 pct stake in lister and co plc with l messel and co and that it had now been placed widely among institutions
baker said it believes the vote was overwhelmingly in favor of the merger
super valu stores inc svu 4th qtr feb 28 net
nacco industries inc said it will report a gain in the second quarter of about 115 mln dlrs or 125 dlrs a share from the sale of stock of a subsidiary
venezuela has restructured its debt so that most of it is being repaid at 7 8 pct which i think is better than the other countries he said
soviet winter grains could be off to a faulty start this spring after enduring an usually dry fall and cold winter weather and crop analysts said
shell expects a fall in output of around 10 pct in the current year to around 340000 bpd due mainly to the decline in output from the major brent field he said
the bank said that without a major drop in the inflation rate the rand was bound to eventually decrease even more regardless of a sharp rise in the gold price
shr 124 dlrs vs 19 cts shr diluted 111 dlrs vs 19 cts net 119 mln vs 1830000 revs 793 mln vs 461 mln note 1986 net includes pretax charge 8300000 dlrs from increases and reserves and writeoffs of low yielding assets and pretax gain 208 mln dlrs from sale of multi family subsidiary
sorghum harvesting moved slowly forward reaching between four and six pct of total planted area compared to two to four pct a week ago
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
computer memories principal asset is about 294 mln dlrs in cash and cash equivalents
soviets rumored to have bought more us corn
the use of generic commodity certificates or certs for fiscal years 1986 88 will save the government 50 to 100 mln dlrs department of agriculture undersecretary daniel amstutz said
the extraordinary loss conformed with new canadian institute of chartered accountants guidelines that require dome to use average 1986 oil prices to value its holdings instead of an escalating price method used in prior years
the dollar had closed here at 15377 yen on february 20
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
european sugar beet plantings are expected to show little change from last year despite recent firmness in world prices analysts and industry sources said
brazil is living through a crisis at the moment and it is not conceivable that exports be hit he told the gazeta mercantil newspaper
ambrose for undisclosed terms
but korea is raising its profile in the area of big ticket manufactured goods notably cars
i am afraid this time we have to give more than take from our talks with the us he said without elaborating
general guven ergenc secretary general of the turkish general staff said today the turkish research ship sismik 1 escorted by an unspecified number of warships would sail into disputed waters in the aegean sea tomorrow morning
shr 32 cts vs 35 cts net 3446000 vs 3789000 revs 2209 mln vs 1869 mln nine mths oper shr 77 cts vs 71 cts oper net 8301000 vs 7298000 revs 6343 mln vs 5351 mln note 1987 nine mths net excludes 3510000 dlr charge from antitrust litigation
japan cuts chip supply may produce shortage
things are proceeding as planned and we fully expect that at the time we have to pay for the shares the financing will be in place good said
outboard which has 17 mln shares outstanding is in registration for a two mln common share offering with morgan stanley inc
cumulative truck sales were pegged at 1096732 up from 1011029 a year ago
the notes will be redeemed at 1015 pct of their principal amount plus accrued interest through the redemption date
but consuming countries and the dissident producer group have tabled separate proposals requiring quotas be determined by availability using a formula incorporating exportable production and stocks statistics
american variety said it is reevaluating its record and tape library for possible conversion to compact discs
investment firm raises tvx tvxgo stake
with german investors purchases of foreign securities steady around 13 billion marks only 22 billion marks were imported through securities transactions after 112 billion
truck tire sales and service corp which operates 51 sears truck tire sales and service centers through a licensed agreement with sears roebuck and co s the plant will supply tires to armteks armstrong tire co as well as to several sears centers
colombia has sold an average of 900000 bags per month since the beginning of the calendar year
the non callable bond is available in denominations of 1000 and 10000 stg and will be listed in london
under the plan steel output would remain subject to restrictive quotas and imports would be firmly controlled for years to come while steel firms undertook a massive slimming down operation to adjust capacity to lower demand
thailands exports in february were 32800 tonnes and consumption 57800
both plants are far from state of the art for car manufacturing sites and amc has a history of poor labor relations at each
it said the 1986 profit was made possible through a 40 mln mark write back of reserves that had been created to cover possible price rises
the company blamed the loss on the continuing depression in agriculture the discontinuance of several programs due to the passage if the 1986 tax bill and the failure to close the sale of four ranches in the california carrizo plains during the year as expected
under a three year agreement signed last year south africa will export 600000 tonnes of maize a year to taiwan
a drop from the present 150 dlrs per acre for the typical 5760 acre tract to 25 dlrs per acre would lower the cost of the standard tract lease to 144000 dlrs
tandler said three billion marks of the extra tax relief would be accounted for by reducing the rate of marginal increase in income tax
belgian current account surplus widens in 1986
national has about 153 mln shares outstanding
dlr falls on fear tokyo wont hike demand miyazawa
brazils trade surplus doubled in february
the figures showed that five republics produced less than in the first two months of 1986
group shr 1768 yen vs 2649 net 1470 billion vs 2192 billion pretax 3576 billion vs 4885 billion operating 3288 billion vs 5190 billion sales 78873 billion vs 79624 billion note company forecast for current year is group net 1550 billion on sales of 800 billion
traders and analysts in international oil markets estimate opec is producing up to one mln bpd above a ceiling of 158 mln bpd agreed in geneva last december
he said the ibc agreed with a request by producers for the institute to ask the government for a monthly indexation of the guarantee minimum price
his amendment called for the government to sell gold coins and gold backed bonds with maturities of 30 to 50 years to investors to reduce the federal debt
uk money rates firm on lawson sterling targets
duffour et igon shares were quoted yesterday at 4410 francs with no buyers after a series of suspensions during the takeover tussle
tribune co said it completed the sale of the danville va cable television system to cablevision industries ltd partnership affiliated with cablevision industries inc of liberty ny it said the danville system was one of two systems acquired by tribune on september 30 1986 as part of its purchase of the daily press inc publisher of the newport news daily press and the times herald
we will discuss the market situation then he added
unocal ucl raised crude oil postings by 50 cts bbl
the yen closed here today at 15153 to the dollar
venezuela has no plans to try to renegotiate the debt rescheduling agreement it worked out with creditor banks in february public finance director jorge marcano told 
it is owned by matthey rustenburg ltd a joint subsidiary of johnson matthey and rustenburg which in turn is owned by mining group johannesburg consolidated investment co ltd
analysts noted that the budget contains provision for a two pence in the pound cut in the basic rate of income tax in line with most market expectations although some operators had expected a cut of up to four pence in the pound
this in turn would bring a swing back to extremely high prices he added
subsequent yields on the certificates will be calculated by adding 075 point to average rates on short term treasury bills
the company was commenting on results that showed a net loss for the year of 621 mln stg after a 716 mln profit in 1985
shr profit nil vs loss two cts net profit 39617 vs loss 200740 revs 619076 vs 491085 nine mths shr loss nil vs loss five cts net loss 68293 vs loss 434087 revs 1614960 vs 1791148
indonesia devalued its currency by 31 pct against the dollar in september to avoid a balance of payments crisis and has announced a series of measures since may intended to stimulate exports encourage foreign investment and revitalise the economy
the other dealers will be samuel montagu and co ltd and morgan guaranty ltd
hutton said the company has valued the warrants at two to three dlrs per share
brazil wanted to maintain the previous export quota shares under which it was allocated 30 pct of world coffee exports but consumers and a small group of producers pressed for shares to be redistributed using objective criteria which would have threatened brazils share
net foreign sales of us treasury securities by foreigners were 27 billion dlrs in the quarter after purchases of 500 mln dlrs in the third quarter
burlington requested the injunction to stop a takeover effort by samjens claiming the partnership used illegally obtained confidential information about the company to make its offer
it will also constrain the ability of the exchange fund in its money market operations he added
the usda secretary would not say how big a share of the japanese rice market the us would request
french regional financing group societes de developpement regional is issuing a 141 billion franc domestic bond banque nationale de paris and banque indosuez said
it cant go on like this he added
deutsche babcock ag dbcgf will increase its dividend on results in the year ending september 30 1987 chief executive helmut wiehn said
bundesbank figures showed that banks held an average daily 51 billion marks in interest free minimum reserve assets at the central bank over the first 29 days of the month
uk money market given 75 mln stg assistance
the talks broke down and although an ico executive board meeting starts in london today delegates and trade sources see chances of any near term negotiations on export quota distribution as remote
reynolds said its proceeds will be used to refinance certain long term debt
the trilateral commission was set up in 1973 by david rockefeller former head of chase manhattan bank and others to promote closer cooperation among the three regions
robbins and myers inc robn 2nd qtr feb 28 net
providence energy pvy finalizes acquisition
gencorp has about 223 mln shares outstanding making the value of the offer about 223 billion dlrs
euratom issues 50 mln ecu bond
kuwait has exploited all available opportunities to continue exporting its oil without any reduction the al anbaa newspaper quoted him as saying
dca currently holds 275 pct of the outstanding shares of cts
the company believes that the negotiation and implementation of the proposed debt restructuring plan is realistic and achievable dome said
hill international said in january that it holds 59 pct of united states videos outstanding stock the company said
but the jardine statement quoted chairman simon keswick as saying we continue to believe that the issuing of b shares would benefit shareholders and regret that they will not be given the opportunity to vote on the matter at this stage keswick said the b share issue will benefit jardine mathesons shareholders by giving the firm flexibility to issue ordinary shares for expansion in future without diluting existing shareholders voting rights
bastian technologies believes that with the appropriate management policies and business strategies the company can once again become profitable and maximize for all shareholders the underlying value of their company bastian said in a filing with the securities and exchange commission
nakasone to visit washington in late april
tokai bank doubles sterling cd facility
gemina has no comment on ambrosiano report
antonovich furs initial offering under way
petrolite corp plit sets payout
the allocation was in line with market expectations the bundesbank would provide more than the 34 billion marks draining from this week as an earlier facility expires
symms intends to offer the bill as an amendment to any related legislation this year an aide said
fcoj movement 3915370 gallons last week
kapok corp kpk in technical default
the february fomc kept the four to eight pct federal funds rate reference range for policy as in other recent meetings
the foreign exchange rate was fixed at 16030 us dlrs to one stg
because there are no interest coupons attached to the bond certificates they are easier to forge than coupon issues market sources said
general mills inc gis 3rd qtr feb 22 net
atlantic richfield oil co said it expects first quarter net income to cover its dividend requirements in the quarter
it said it has also executed multi year employment and non competition agreements with five spectrayne senior managers
such expectations could mean that a shift in policy toward restriction of bank reserves is likely to get very serious consideration at the fomc meeting he said
the paper said indonesia must boost the scope for private business initiative as well as stepping up its use of aid money already committed
first of america bank corp said it acquired keystone bancshares inc for 25 mln dlrs
federal resources fdrco acquires retailer
bulcan corp bul 3rd qtr net
taiwan buys 54000 tonnes of us soybeans
the bankers said that 12 billion dlrs had been disbursed by the end of 1986 and chinas disbursement record compares very favourably with that of other countries
cellular inc celso to sell unit take gain
1986 4th qtr and year net includes a charge of 59 mln dlrs and 314 mln dlrs respectively for corporate restructuring
the toronto globe and mail quoting sources close to the negotiations today said dome broke off talks last night with transcanada pipelines ltd which last week announced a 43 billion canadian dlr offer for all of domes assets
rockefeller center properties rcp ups payout
cie bancaire a subsidiary of recently privatised banking group cie financiere de paribas paripa said it is issuing 235 mln new 100 francs nominal shares on the basis of one for five already held
the repayment of capital and interest on this loan taken out during the strong pressure on the franc which preceded the european monetary system ems realignment and the subsequent group of five meeting in paris took place on march 13
the euro commercial paper program allows for the issuance of notes with maturities of up to 183 days
standard and poors corp said it placed the subordinated debt of guarantee savings and loan association the principle unit of guarantee financial corp on creditwatch with positive implications
bellsouth bls completes purchase for shares
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 
it owns code a phone corp a producer of telephone answering machines
aim telephones inc said it has sold three mln dlrs of nine pct seven year subordinated notes to principal shareholder quince associates the company said it has also issued quince seven year warrants to buy 500000 common shares at six dlrs each
chicken not main salmonella cause official says
the company also said it believes that brazil will reach an agreement with its banks and that interest payments will resume later in 1987
as a result of the merger the former shareholders of scan graphics will become the majority shareholders of captive venture capital
maciej said he sees crude oil supply outweighing demand and doesnt believe a recent opec production accord will continue to support prices
japan imported 128089 tonnes of brazilian beans in calendar 1986 finance ministry customs cleared statistics show
ionic holders will own about 74 pct of the outstanding stock of circuit systems it said
it said in a statement we are confident that substantial development funds will be available to tricentrol and that we will be able to minimise further disposal of our interests tricentrol wrote off 575 mln stg on the reorganisation of its north american operations last year when oil prices plunged
saudi riyal interbank deposit rates eased across the board in a dull market which was long in day to day funds dealers said
santana said despite a strike threat by oil industry workers and a two week stoppage by brazilian seamen petrobras oil stocks are reasonably balanced saudi arabia is brazils second biggest oil supplier with an average 115000 bpd
coastal has used transamericas bankruptcy proceedings to engineer a hostile takeover attempt the company charged
clark said his forecast allowed for only a modest further increase in investment buying and may well be cautious
the growth in hong kongs exports is expected to stimulate the demand for industrial buildings cheung kong is cash rich and is looking for new projects in the british colony li said noting the firm is interested in a land reclamation project along the hong kong harbour and is exchanging views with the government on a proposal to build a second airport
a group of investment firms led by far hills nj investor natalie koether said it is seeking information about the shareholders of prime medical services inc over which it has said it is seeking control
new zealand cpi rises 23 pct in march quarter
the measure however does not require president reagan to comply with the 1973 war powers act as does a related senate bill
sri lanka has appealed to 24 countries for emergency aid to help 24 mln villagers affected by the countrys worst drought in 36 years government officials said
however the analysts said more is at stake than supercomputer sales as the us fears it is losing its vital semiconductor industry to japanese competitors
the stock will be offered for sale between march 17 and 19 and will be listed on all german stock exchanges from march 20 to 24
on the trade deficit johnson warned against quick fix solutions which he identified as excessive dollar depreciation or protectionist trade legislation
we would from august on produce our own quota and sell the additional amounts that ecuador would be repaying us he said
because of numerous insolvencies at home by far the largest part of the provisions were set aside for individual write downs from domestic business
the domestic uranium conversion industry and the federal governments enrichment industry could be seriously injured in a manner not intended by congress if the import ban on uranium ore and oxide were implemented to bar imports for processing and export through a mistaken interpretation of the act the treasury brief said
tandy said march sales and oprating revenues totaled 1644 mln dlrs up 11 pct from march 1986s 2388 mln dlrs
the company said the board also authorized a special committee of outside directors to take whatever steps it deems necessary to protect the interests of spectra physics and its stockholders and to investigate all alternatives to maximize the value of the stock including talks with third parties
dlr falls on fears miyazawa says
the central bank purchased 129 mln stg bank bills in band one at 9 7 8 pct
security pacifics 17 billion dlrs of debt was downgraded
bond corp international ltd a subsidiary of the australian based bond corp holdings ltd bonas said it would defer its planned rights issue but still wants the issue to be made before july 31
the company said the unit is to be sold sometime this year so was included as discontinued operations in its 1986 results announced earlier today
ricoh co ltd rictt year ended march 31
m 1 a which is m 1 plus daily interest chequable and non personal deposits fell 7 mln dlrs to 7514 billion dlrs and m 2 which is m 1 a plus other notice and personal fixed term deposits fell 56 mln dlrs to 17754 billion dlrs
the 1985 operating results include a host of unusual writeoffs and depreciation charges totaling 134 mln dlrs in the quarter and 906 mln dlrs in the year
the arbitragers said tender offer documents show that hutton does not need to use its cash in the transaction and will emerge with a giant majority equity interest in purolator
it reported net recoveries of six mln dlrs after charge offs of eight mln compared with net charge offs of 49 mln dlrs after recoveries of three mln a year earlier
jp industries said it is not aware of any other reason for activity in its stock
he said the proposals might raise gasoline prices
mark salvino said the expected loss is primarily due to depressed product prices not recovering the increasing cost of crude oil
she urged usda to require that birds be washed thoroughly before they are defeathered and that defeathering machines be cleaned several times a day that birds be condemned if their intestines are punctured or there is visible fecal contamination and that chiller water be changed more often
the january level was the worst since the goverment started compiling unemployment statistics under the current system in 1953
the company also said actions initiated during 1986 to restructure and improve efficiency should continue to show benefits in 1987
latin caribbean nations oppose trade bills
oreilly told analysts heinz is in active negotiations to build a second plant in china where it entered a joint venture with the government in 1984 forming heinz ufe ltd which produces dry baby food cereal
the european investment bank eib said it has lent 200 mln french francs to french railways societe nationale des chemins de fer sncf to extend its high speed train system
the original bid was worth about 162 billion dlrs
the issue matures on may 12 1992 and is priced at 53 1 2 pct
emerys bid expires april 28
in announcing the us sanctions yesterday president ronald reagan said he was prepared to lift them once he had evidence that japan was no longer dumping chips in world markets and had opened up its own market to imports
on a positive note banks increased capital to a record 208 billion dlrs last year and there has been a slowing in the number of new problem banks in all regions except the southwest seidman said
the withholding scheme can only be used if prices fall below the 1600 sdr lower intervention price for more than five days and if 80 pct of the maximum buffer stock capacity has been filled or if the buffer stock runs low on funds it says
that may be one of the factors that would be weighed in the judgment he added
toshiba has supplied equipment to uk manufacturers for sale under their brand names since last year
cobriza produced the equivalent of around 40600 fine tonnes of copper last year
this is the start of a new era in colombia because world market conditions are also new he said
guardian morton shulman precious metals inc said morton shulman and guardman investment management services inc agreed in principle for andrew sarlos to make a takeover bid for all special shares and series ii warrants of guardian morton subject to regulatory approval and completion of definitive documentation
revenues from telephone operations rose eight pct to 29 billion dlrs
nova corp says it is considering a takeover bid for dome petroleum
lb nelson corp 4th qtr net
deputy agriculture secretary peter myers and under secretary daniel amstutz also attended the 30 minute meeting
balladur sees only two pct french growth in 1987
coceral argues that this would restore the original function of intervention as a safety net and would end the present situation in which produce is often sold into intervention as a precaution
that helped boost us chemical exports
it said the offering is expected in mid may through a group of underwriters managed by first boston corp and montgomery securities
on balance sterling would be a net sufferer if g 6 collapses phillips and drew analyst stephen lewis said
service corp srv dumps capital southwest stake
murgold resources inc said assays received from 320 feet of drifting on the number three vein at the chester township property south of timmins ontario indicate an average of 0528 ounce of gold per ton across an average width of five feet for the 320 foot length
if this bid fails beghin say would consider acquiring and developing two other french plants either in the maize or wheat starch sector
a drop in may us housing starts and continued weakness in auto sales show key sectors of the us economy are lagging while a recent modest 03 pct gain in may producer prices has helped dispel inflation fears slifer said
montreal trustco issues canadian dollar eurobond
month on month m1 b fell 519 pct from january
venezuela says opec oil output 0ver 18 mln bpd caracas oct 19 the current opec oil production is above 18 mln barrels per day bpd and this level threatens the precarious equilibrium of the of oil market venezuelan energy and mines minister arturo hernandez grisanti said on monday
mechanically separated meat is made by placing carcass parts which usually have been hand trimmed but still have some remaining meat into specialized processing equipment
however they said a tentative plan for egypt that is currently being reviewed by the management of the fund prior to going to the executive board for full approval has raised a number of questions about the countrys ability to repay
digimed corp 2nd qtr dec 31 loss
usair said the tender is conditioned on receipt of enough shares to give usair at least a 501 pct interest in piedmont on a fully diluted basis and approval by the us department of transportation of a voting trust agreement permitting usair to buy and hold shares pending review of its application to gain control of piedmont
the company was wound up last year
dome dmp plan may force sale of encor stake
but he admitted that the largest third world debtor brazil was clearly an exception
continental said it operates and has under development 1943 nursing home beds and 404 residential health care beds
colombia business asked to diversify from coffee
current regulations allowed the city to acquire only half of its short term borrowing requirement with cps he added
the hughes board last week indicated that it might cancel the merger because of the department of justice requirement
computer microfilm corp said it expects revenues of over 125 mln dlrs and higher earnings in 1987
brazils central cank president francisco gros said he sent a telex to creditor banks friday to clarify confusion over brazils request that banks expedite procedures for renewal of short term interbank credit and trade credit lines
it said it has asked the american stock exchange to suspend trading in its common stock at the close on april 6 to ensure settlement of all traded by april 14
we believe that the equity market has much more upside potential than the bond market the executive said
transport has often been hit by shortages of wagons spares and fuel
they have not done the right things at the right time he said and as a result earnings per share have steadily declined since 1984
avery international corp avy offering of two mln shares of common stock through kidder peabody and co inc and goldman sachs and co
shultz feels like he fought the battle against a subsidy last summer and hes not going to the mat again
the soviets have not indicated an urgent need for a us wheat subsidy offer and it is unlikely that such an offer will be ma during the us soviet summit expected to be held next month agriculture secretary richard lyng told 
latin america is grappling with adverse terms of trade for instance as underlined by the recent slide in coffee prices
moodys may upgrade public service indianas 11 billion dlrs of debt
gte gte cites loss of sprint
the high water was expected to recede within two days to below levels at which the restrictions come into force
co lead is hambros bank ltd
cineplex odeon corp year net
opec member ecuador adopted austerity measures to conserve fuel after oil production was paralyzed by a strong earthquake
three consecutive days of talks between management and unions aimed at ending the three month old strike at cargill uk ltds oilseed processing plant at seaforth ended yesterday without resolving the situation although some progress was made a company spokesman said
in a filing with the securities and exchange commission the bass group said it sold 567800 national distillers common shares between may 15 and 29 at prices ranging from 5994 to 6344 dlrs a share
details of the 1988 budget in which spending will match revenue have yet to be worked out the officials said
great country bank gcbk 3rd qtr net
gencorp today received a surprise tender offer from a group that holds 98 pct of its stock
oper shr loss 26 cts vs profit 22 cts oper net loss 672879 vs profit 596760 revs 2188678 vs 2364280 nine mths oper shr loss 160 dlrs vs profit 92 cts oper net loss 4278055 vs profit 2472532 revs 5896322 vs 7497782 note oper net excludes tax gains of 596000 dlrs for year ago qtr and 2173000 dlrs for year ago nine mths
geoffrion leclerc inc six mths net
the national association of wheat growers nawg board of directors is scheduled to meet secretary of state george schultz and undersecretary of state allen wallis to discuss the departments current role in farm trade policy the association said
le matin the french language tabloid launched here in february said it is shutting down its operations because it can no longer get financing
the company did not elaborate further
keating told a financiers dinner that februarys 750 mln dlr deficit against januarys 123 billion was in the groove of the governments expectations
amoco an raises crude prices
chemical also placed 52 mln dlrs of loans to ecuador on non accrual because the quito government also suspended interest payments on its foreign debt
most japanese companies have decided not to renew term contracts to lift iranian crude oil because spot prices remain considerably lower than opecs official levels industry sources said
silver mining production in the 12 month period jan dec 1986 totaled 31720769 ounces vs 39357197 ounces produced over the same period in 1985
american international group inc said it sold its south african subsidiary american international insurance co ltd to johannesburg insurance holdings ltd a holding company owned by a consortium of shareholders led by rand merchant bank
the plant will use the proceeds to finance its expansion
the refinery has an optimum annual production capacity of 100000 tonnes but its highest production was 96000 tonnes of refined zinc ingots in 1985 the spokesman said
the libyan bombing is a thing of the past the trade war didnt happen and we have reached reasonably good cooperation on terrorism one us official told 
she noted that chrysler corps c announcement of a merger proposal for american motors corp amo should have no short term effect on ford but could cut into fords share of the truck market in the long term
canadas federal government will provide a 350 mln dlr oil industry aid package that includes cash incentives designed to cover one third of a companys oil and gas exploration and development costs energy minister marcel masse announced
united savings and loan unsao 2nd qtr net
lukman said heavy destocking by consumers early this year when opecs fixed price regime came into effect and a restocking now for the winter was responsible for current market strength
shl said it was advised that kinburn intends to exercise this option to maintain its ownership and effective control of systemhouse
a proposal to require imported tropical oils be labeled on us food products failed by a 10 8 vote
the group has been acquiring oil properties in both the us and britain which will begin to make a significant impact on profits in the 1990s
basin pipeline texas okla border washed out by floods some 300000 bpd crude affected
aaron rents inc arono year net
1986 qtr and yr oper net also excludes 102300 dlrs and 257300 dlrs respectively for tax loss carryforwards
we see no reason to change that policy he said
pork production in 1986 rose 83 pct to 11 mln tonnes due to the sharp rise in beef prices and is expected to remain at that level this year usda said
the dividend is payable may 29 to holders of record april 24
no cominco strike talks scheduled
another possible solution would be to stop supporting farm prices allowing them to be fixed by supply and demand and instead help farmers through income support and adjustment aids proposed james howard executive vice president of cargill usa one of the worlds largest cereal houses
president reagans sanctions decision won praise today from the two democratic leaders of congress
the january 1987 figure represents a fall over january 1986 of 17 pct after a year on year decrease in december 1986 of 25 pct
glynwed international plc glynl said it had bought all the issued shares of two companies belonging to gallaher ltd a subsidiary of american brands inc amb in a deal worth around 14 mln stg
under the audited amounts 1986 fourth quarter income was 1098978 mln dlrs or 55 cts a share
its an absolutely ideal situation february us industrial production rose 05 pct slightly less than the 07 pct gain the financial markets had expected
bank economists said us pressure on west germany to further ease credit policies had receded since the paris pact
last year japan racked up a 515 billion dlr surplus with the united states and economists said they do not see it falling significantly any time soon
david fleischer head of the political science department in brasilia university told the national association of higher education teachers wanted a full congressional inquiry into what had happened to government education funds
the company said the it would receive 250000 dlrs in fees for providing the completion bonds
one grain vessel was awaiting berth at bahia blanca four at buenos aires and five at rosario on march 31 national grain board figures show
the spanish ministry of agriculture said beet sowings are estimated unchanged at 180000 ha this year
bangemann denies newspaper interview on subsidies
no flow tests have been conducted it said
weekly temperatures in the north china plain were near normal the agency noted
first chicago corp said its first national bank of chicago raised its prime rate to 7 3 4 pct from 7 1 2 pct effective immediately
national heritage inc said it acquired the assets of chartham management corp of salem ore
commodity prices are generally uniform worldwide and prices for them are more consistent than for other types of goods he said
continental grain 8250 tonnes of number two northern spring dark northern spring ns dns wheat 145 pct protein for april 15 may 10 at 12397 dlrs fob gulf excluding brownsville
partially offsetting these exchequer transactions would add around 355 mln stg the bank added
yugoslavia western creditors in debt accord
no reason was given
frances bfce issues 150 mln dlr eurobond
us based speciality food retailer mrs fields inc which earlier announced pre tax profits of 171 mln dlrs in 1986 against 68 mln in 1985 said it plans further growth this year with the opening of 125 new stores in the us the company which is quoted on londons unlisted securities market usm said it also planned to expand its outlets internationally
since then it has resisted pressure from main creditors for more currency adjustments arguing that past devaluations had failed to boost exports but raised local consumer prices
tokai international ltd is other joint book runner
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
there was not the same ease then for the holder of another currency to buy other countries securities he added but there is no difficulty now for them to purchase dollars and buy us securities the united states needs dollars not japanese yen to pay its debts and reduce the deficit and so has no plans to issue yen denominated bonds he emphasized
london coffee prices slid 300 stg per tonne in march to 1279 stg from 1580 stg at end february
new york investor martin sosnoff said he reduced his stake in caesars world inc common stock to 3878700 shares or 16 pct of the companys common stock outstanding from about 174 pct
the government is determined to ride out the latest sharp rise of the yen without taking panic measures because it expects the currencys appreciation to prove temporary senior officials said
shr 85 cts vs 120 dlrs net 5130000 vs 7236000 revs 936 mln vs 919 mln
usg usg debentures yield 877 pct
i dont pay attention to the cost of living said cheryl richmond a 25 year old canadian teacher of english in tokyo
the napm said the economic improvement was evident in all of the indicators in the index except inventories which declined slightly
dealers in frankfurt and zurich saw the dollar remaining broadly entrenched in its current trading range
it said it is offering to exchange 660 shares of common stock for each 1000 dlr principal amount of its 4139000 dlrs of outstanding 11 5 8 pct notes due september 15 1990
periods ended feb 28 oper shr 46 cts vs 51 cts oper shr diluted 43 cts vs 50 cts oper net 342 mln vs 398 mln revs 8233 mln vs 7943 mln avg shrs 749 mln vs 787 mln nine mths oper shr 129 dlrs vs 146 dlrs oper shr diluted 120 dlrs vs 143 dlrs oper net 994 mln vs 1145 mln revs 250 billion vs 222 billion avg shrs 770 mln vs 783 mln note year ago nine months operating net excludes loss of 20 mln dlrs or two cts a share from discontinued operations
cojuangco lives in self imposed exile in the us the shares grew to 381 mln after a 15 pct stock dividend announced last june
voplex corp vot 3rd qtr loss
opec deliberately under 158 mln barrel ceiling to defend price subroto
lomas and nettleton lnf to make acquisition
the company said the new posting for edmonton swann hills will be 2560 dlrs a barrel
de groote said the company will gain about 138 mln dlrs in cash by august 31 from the exercise of warrants
the new airline canadas second largest will have 81 planes flying to 89 destinations in 13 countries
cyacq corp an investor group bidding for cyclops corp said it would raise its outstanding tender offer price for cyclops common to 9250 dlrs a share from 80 dlrs if certain conditions were met
by january its estimate of 1986 planted acreage nationwide was 1006 mln
the speculative selling did not reflect economic fundamentals and since the fundamentals had not changed only a reaffirmation of the goals of the paris accord was needed he said
callon petroleum co said its auditors will qualify their opinion on 1986 financial statements due to questions about callons ability to continue as a going concern
the company said the settlement is subject to approval by the delaware chancery court which is expected to take about 60 days
the request will be considered at the committees next meeting the commission sources said
japanese corporate investors were active buyers as the end of their accounting year march 31 approached
american express said it is continuing to evaluate various courses of action of strategic importance to shearson lehman in addition to the possible investment by nippon life
us markets offer glimpse of volcker nightmare
if the company is unsuccessful in obtaining the approvals needed for the sale and liquidation it said the company may be required to initiate reorganization proceedings under federal bankruptcy law to facilitie the distribution of its assets
us agriculture department inspectors have refused entry to parts of two lots of australian beef because of pesticide residues a spokeswoman for the department said
its an encouraging sign that the manufacturing sector is beginning to revive but stephen roach of morgan stanley and co inc was not convinced that the february reports portend economic gains
a total of four of nine indicators available for february contributed to the increase in the index
but machinea said the talks were difficult and argentina wanted to conclude them as soon as possible
but the owners of the smelters national southwire aluminum co and alcan aluminium ltd al said further viability of the operations would depend in part upon how the rate case is eventually settled
cocoa council chairman seeks buffer compromise
reagan says trade bill faces veto in present form
bethlehem steel bs sets plate price increases
bank figures showed the increase was almost exclusively in the specific bad risk provision which qualifies for uk tax breaks
standard and poors corp said that the credit quality of most us cable television companies is unlikely to improve in the near term
wallin said the 15 pct earnings growth for fiscal 1988 does not include dilutions from acquisitions
un conference formally adopts new rubber pact
dutch merchant bank pierson heldring en pierson said the state has raised about 153 billion of its 1987 capital market requirement of an estimated 32 billion guilders
the bill which now goes to the full banking committee includes an amendment opposing us approval of development bank loans for commodities in surplus in the world and which are intended for export
hartmarx corp following a year of restructuring continues to target record earnings for fiscal 1987 chairman john meinert told the annual meeting
opecs agreement to limit output to 166 mln barrels per day bpd for the rest of the year should boost spot prices and enable the group to raise its official reference price to 20 dlrs a barrel in january from the current 18 dlrs far east oil industry sources said
lawson would officially state his position when the two meet again next month for the imf and world bank spring meetings in washington funaro said
without intervention the collaspe of trailways is imminent said fred currey chairman and president of greyhound
twa said it would refile today providing the information needed
membership in the company which mulligan termed a cooperative of cooperatives has declined from 99 in 1982
it could not spend its way out of trouble because this would increase the balance of payments deficit and domestic inflation
citizens will pay a premium of 30000 dlrs to the fdic and purchase beaver creeks assets for 53 mln dlrs
in the interim fairchild would continue its ongoing business within schlumberger the oilfield services concern said
the ban had threatened food shortages of imported wheat fresh vegetables and medicines
31 it had interest receivable of about five mln dlrs on its medium and long term brazil outstandings
a company spokesman said prior results were not comparable due to its august 15 issue of 30 mln common shares
endotronics endo target of investigation
he said it would be a policy which shows brazil has coffee to sell and that it could do so without an ico agreement
carter hawley hale stores inc 4th qtr shr loss 158 dlrs vs profit 58 cts
shr three cts vs three cts net 9820000 vs 91898 revs 2843520 vs 2372457 year shr 13 cts vs 21 cts net 401179 vs 681374 revs 105 mln vs 9699535
wang wan signs marketing agreement
in 1986 shell sold 1474 mln tonnes of oil products against 1452 mln tonnes in 1985
a year earlier oldhams net asset value was put at 5314 mln stg
burns pauli and co inc co managed the deal
the steelmakers had asked moscow to agree to a cutback to 37 mln tonnes in 1987 88 but the soviet union urged japan to increase the amount to 65 mln they said
justin silverton equity economist at credit suisse buckmaster and moore said a full point reduction might be possible
it also offered to buy the company for 52 dlrs a share cash or 14 billion dlrs
their interest is not in preserving and strengthening americas industrial and providing jobs he said
to buy i p sharp of canada
the bank of nova scotia nassau branch is issuing a 50 mln new zealand dlr eurobond due april 14 1989 carrying a 18 1 4 pct coupon and priced at 101 pct lead manager morgan stanley international said
digital dcaio to acquire fox foxto unit
the repurchase of the additional five mln shares will depend on market conditions the telecommunications and microwave components company said
fox research develops makes and markets local area networks for personal computers
the new company will be directed by a six member board with three representatives each from pdvsa and union pacific
money market dealers said period rates remained little changed indicating no change in credit policy was expected
bankers said that mexico suspended the swap program on february 25
bank of japan to sell 800 billion yen in bills
henry bellmon who on thursday declared a flooding emergency for central oklahoma was expected to ask president reagan for federal disaster relief for the area
noranda begins salvage operations at murdochville
reynolds said the sale is expected to be completed on april 24
shr 26 cts vs 18 ctsd net 2102000 vs 1415000 revs 441 mln vs 422 mln year shr 21 cts vs 91 cts net 1678000 vs 7105000 revs 1551 mln vs 1492 mln avg shrs 7960000 vs 7808000 note latest year net includes writeoff of investment in dawn enterprises ethanol refinery of 79 cts shr
on balance gm cars are not selling as well as their competitors he said
these offer a return at the three month libor rate plus 45 basis points
standex international corp said it acquired alan duffy engineering ltd of blackburn lancashire england for an undisclosed amount of cash
the package of proposed farm policy changes that the reagan administration sent to congress today includes a provision that would eliminate minimum price support levels for upland cotton rice and soybeans
us soybean and cottonseed producers had argued that saturated fats cause heart disease and that the labels would discourage consumption by health conscious consumers in favour of domestic unsaturated alternatives
a statement said the acquisition would fit perfectly into its package for the banking and securities industries
because of the theoretical size of the dilution resulting from the outstanding warrants warrants convertible notes stock plan and acquisition earnout agreements the company said it will be required to report earnings per share on a fully diluted basis beginnng with the first quarter of 1987
the bank of england also apparently sold sterling in london when it neared 160 dlrs on wednesday they said
the bonds will be listed on the amsterdam stock exchange
lasmo said its advantage comes from its reserves of oil and gas which at the end of 1986 stood at 210 mln barrels of oil equivalent a group record
rexnord nc said it signed a definitive agreement to sell its railway maintenance equipment co subsidiary to banner industries inc
more than 50 pct of the banks must approve and nogales said he is confident this threshold will be reached
they dont have the money
humana said the rights expire march 4 1997 unless redeemed earlier
one senior banker closely involved in brazilian debt negotiation offered qualified support for a call from funaro for a change in the structure of the advisory committee of banks which has coordinated brazilian debt since 1982
under terms of the offer morgan said it has set up a special purpose financing company pacific securities co ltd which will issue two separate securities
a common currency system or ems style grid would in theory foster regional trade by providing a basis for stable exchange rates but nashashibi said inter arab trade is at a very low ebb and capital flows between gulf states remain small
shr 118 dlrs vs 87 cts net 1496 mln vs 1340 mln revs 110 billion vs 9564 mln nine mths shr 336 dlrs vs 242 dlrs net 4281 mln vs 3737 mln revs 313 billion vs 270 billion avg shrs 1273 mln vs 1545 mln note 1986 results include 25 mln dlr reduction of operating income for the relaunch of contac
the us has offered warships to escort kuwaiti tankers in the gulf past iranian anti ship missile batteries defence department officials said
berliner bank ag has suffered losses of between 25 mln and 30 mln marks on credits extended by its stuttgart branch by bank officials who exceeded their powers a bank spokesman said
lilly issued 171 mln warrants with an expiration of march 31 1991
the credit is the first foreign commercial loan raised by oil
pulitzer publishing co pltzc 4th qtr net
carroon and black corp said it completed the acquisition of poggi harrison agency inc and risk control inc terms of the acquisitions were not disclosed
genetic laboratories inc genl 2nd qtr loss
a midland spokesman said his bank calculated that at the current level of 27 billion stg its existing mortgage book accounts for about 5 pct of the total british home loan market
what it did was distort the quarterly earnings pattern he said
saudi arabia doesnt decide prices by itself but certainly desires price stability he said
pye tvt designs and manufactures broadcast transmission equimpment specializing in television frequencies
the agency is one of the few in the government that actually has taken in more money than it has spent in the past few years because of fees it charges public companies investment banks and other securities firms it regulates
in 1986 standard oil had net losses of 345 mln dlrs on revenues of 1002 billion dlrs compared to a profit the year earlier of 308 mln dlrs on revenues of 1382 billion dlrs
monetary sources also said they understood that secretary baker considered the meeting to be extremely successful in the light of the japanese announcement
but he said in an interview that financial markets also understood that all six countries concluded that the measures to be taken over a period of time in the future should foster stability of exchange rates around current levels
uk money market given further two mln stg help
epsilon data epsi gets new credit agreement
he was reacting to comments by local economists who said manilas debt accord was no better than mexicos which was a 20 year repayment including a seven year grace last year at 13 16 points over london interbank offered rates libor the philippines clinched a repayment of 17 years including a grace period of 7 1 2 years on 103 billion dlrs of its total debt of 278 billion
diplomatic sources said the dispute could provoke new trade friction unless it was settled soon
although alaska housing finance will set the interest rates relative to libor for the euronotes merrill lynch noted that it would not seek to issue the notes with a margin in excess of 02125 pct per annum
all opec members can make a good case for changing differentials said one analyst with a major oil company
demand came mainly from west germany and switzerland
fountain said that even a large well established firm such as chrysler had found it difficult to arrange long term peso financing on reasonable terms in mexico
the dexter corp dex 3rd qtr net
net includes provision for losses and discounts of 704 mln vs 762 mln in qtr 1987 vs 1986 and 3157 mln vs 1617 mln in nine mths 1987 vs 1986
twa would have to be the surviving company for the deal to work said one analyst
hot on the heels of yesterdays two canadian dollar issues was a 75 mln dlr six year bond for chrysler credit canada guaranteed by chrysler finance paying 9 1 4 pct and priced at 101 1 2 pct
p and o deferred shares were last quoted at 629p down 1p since yesterday after the company reported 1986 pre tax profit of 1741 mln stg against 1256 mln for 1985
national intergroup nii unit raises crude prices
average shares 215 mln vs 133 mln in quarter and 189 mln vs 133 mln in half
the trust bank apparently changed its earlier view that the dollar would rise and started selling relatively large amounts of dollars pushing the unit down to 14880 at one point brokers said
the loan may be drawn to fund high priority investment projects if mexican economic growth fails to reach certain growth targets for the first quarter of 1987
the issue of land loss is a matter of major concern to the peking leadership which announced earlier this month that china will issue nationwide quotas for conversion of grain land for the first time this year
cable shares firm on japan speculation
sales in the united states totaled about three billion dlrs ici executives said
laser lser sees impact from suit on earnings
fees comprise 1 1 4 pct selling concession and 3 8 pct each for management and underwriting
national weighted average market prices for the first five months of the season were 146 dlrs per bushel for corn and 133 dlrs per bushel for sorghum
the bank of england said it forecast a shortage of around 800 mln stg in the money market today
eurostat said for the last three months for which figures are known industrial output rose by only 09 pct compared with the year earlier period
his 72 pct stake makes up a total of 722000 shares
the inventory to sales ratio rose to 138 up 07 from december the department said
but when youre dealing in un alloyed ingot its a commodity business where there are a lot of tools available for hedging and alcoa is using all of those tools said al posti alcoas manager of corporate news
the commodity credit corporation ccc has reallocated 500 mln dlrs in credit guarantees from the previously announced undesignated line to provide additional guarantees for sales of feedgrains oilseeds and wheat to south korea the us agriculture department said
cyclops corp said its board has been restructured under the terms of the companys merger agreement with dixons group plc following the british companys acquisition of 54 pct of cyclops stock
hk bank expected to post 10 to 13 pct profit rise
it paid special attention to reassessing the effect of exposures to lesser developed countries on the holding companies earnings and capital
fixed investments were 23438 billion lire in the fourth quarter down 07 pct from the preceding quarter and up 11 pct from the comparable 1985 quarter
it said a four pct decline in rural exports despite an 11 pct rise in wheat exports was more than offset by a seven pct rise in non rural exports notably minerals and fuels
before seasonal adjustment the index for finished goods stood at 2923 over its 1967 base of 100
lear apparently will retain its piper aircraft unit
lvi group inc lvi files preferred offering
dean witter analyst karen gibbs said a retail sales figure below market forecasts would give a boost to debt futures and she put the range for the non auto sector of retail sales at up 08 to 12 pct
berry petroleum co said its board and the norris oil co board approved a merger agreement that calls for norris to become a wholly owned berry subsidiary
the bulgarian foreign trade bank has signed with a group of japanese banks a 40 billion euroyen equivalent loan which is the largest syndicated loan denominated in euroyen for a european borrower bank of tokyo ltd said as one of the lead managers
the private sectors downturn began in earnest in 1983 as oil prices slid and some companies were slow to react businessmen said
exports in the first four months of 1987 were around 639 mln dlrs and imports 6283 mln compared with 771 mln and 500 mln respectively in the same period last year
the companies said they expect to complete the merger which will create a bank with 80 billion dlrs of assets by the end of the second quarter
among the alternatives the special committee will consider are a sale of the company to a third party for more than 32 dlrs a share a recapitalization or restructuring including self tender offers and or asset dispositions through the use of dividends spectra physics said
shr 10 cts vs 10 cts prior qtr pay june one record april 24
haitis agriculture minister yesterday announced his department will permit the importation of 730 black creole pigs which had been banned from the island nation since 1983
gale warnings were issued for today along the central california coast
sorghum production is expected to total between 32 mln and 35 mln tonnes or 167 to 22 pct less than the 41 to 42 million tonnes harvested in 1985 86
the second domino is the union
north korea to resurrect gold mine to repay debt
the officials who asked not to be named said yesterday that baldrige has serious concerns about the sale of fairchild semiconductor corp
supermarkets general corp sgl 4th qtr jan 31
it said the acquisition is subject to negotiation of a final agreement
concept inc ccpt 2nd qtr feb 28 net
but the april 3 ousting of prime minister anibal cavaco silvas government could slow economic reforms and investment as portugal continues to adapt to membership in the european community which it joined in january last year they said
however the bass family has not indicated support one way or the other for his offer he said
these results also reflect the seasonally low sales pattern of automotive replacement parts in that period
the association which comprises 106 commercial banks in east and west beirut halted trading on friday in a chaotic market after the pound crashed to four record lows in the week
spains money supply growth doubles in february
the business was for april shipments and comprised 20000 tonnes of european rapeseed oil at 318 dlrs 20000 tonnes of soyoil believed south american origin at 314 and 6000 tonnes of malaysian rbd palm olein at 347 dlrs all per tonne cif
trump plaza 4th qtr net
on fields likely to pay prt in the future the benefit is of timing
the worlds dependency on the mideast as the source for its petroleum is growing and nothing is going to stop it donald k
us british proposals include a complicated series of formulae for assessing the stream of payments involved in swaps whose ultimate risk is borne by the financial intermediary especially when counterparties remain anonymous
the banks felt that this was new information and that further consultation was called for one banker said
trus joist corp said it agreed to purchase dashwood industries ltd a canadian wood window and patio door manufacturer for an undisclosed amount of cash
purchase authorizations will be announced as issued
nacco said its north american coal corp unit has received notice that consolidation coal co a unit of du pont co dd will exercise an option to buy all of the stock of quarto mining co a subsidiary of north american coal
japanese government officials said they are confident they can make the pact work
hollinger chairman black predicted hollinger would post 1987 net income of about 55 mln dlrs or one dlr a share including extraordinary gains from previous sales of discontinued operations
the fed said that business loans including acceptances increased 484 mln dlrs to 281546 billion dlrs
the company said the sale to a subsidiary of senior engineering group plc a british company will take place this month
the ministry had previously put the january and december indices at 1016 and 1047 respectively
the partnership said it anticipates making a cash distribution of an as yet undetermined amount to unitholders at or before the liquidation trusts funding date
synergen sygn to make drug for ciba geigy
the company further stated that it is confident it will receive an objective review of the facts
shr profit three cts vs profit 36 cts net profit 1800000 vs profit 192 mln nine mths shr profit 122 dlrs vs loss 44 cts net 647 mln vs loss 235 mln note 1986 3rd qtr and nine months includes a profit of 28 mln dlrs and a loss of 667 mln dlrs from discontinued operations
last week the management group submitted what it called its last offer for the company valued at 31 mln dlrs and consisting of 3850 dlrs a share cash preferred stock valued at eight dlrs a share and equity in the new company
were looking a more favoured market than perhaps the us where some people would be concerned about the value of the us dollar lloyds bank nza ltd chief economist will buttrose said
mikulic said foreign debt should be retained at about the same level as now until 1990 and the country should then be able to keep currency reserves equal to three months payments
others who one month ago claimed a deal was not possible are saying they would not rule one out
he pointed to a fall in the year on year growth rate of the m3 broad money aggregate to 195 pct in september from augusts 22 pct
the market sought to buy 340000 tonnes more than double the remaining 150000 tonnes available under the current tender
the lynch officer said he was invited by other becor shareholders to make an offer
the main topic will be reform of what many producing countries perceive as the icos unfair distribution of export quotas fernandez said
the rescheduling covers public sector trade debts coming due between september 1986 and march 1988
with a historically high yen and historically low interest rates theres an increasing disincentive to invest in japan competition in fund management has grown along with greater japanese savings
olivetti does not exclude stake in sgs thomson
the federal reserve is expected to intervene in the government securities market to add temporary reserves via customer or system repurchase agreements economists said
the lead manager is first boston corp and the co leaders are goldman sachs and co and merrill lynch capital markets she said
allisons place inc alls 4th qtr net
pan am also said it is encouraged by passenger traffic results so far this year as well as booking trends
anything smaller than 50000 francs will be governed by the unchanged more demanding rules that apply to public issues
pohl said the groups average tax rate rose to 325 pct from 288 pct because of the higher profits and despite write offs on the losses of new acquisitions
the debentures are redeemable at any time but non refundable before march 1 1997
the credit guarantees were previously earmarked for sales of us dry edible beans and rice it said
he has forecast a drop to about 125 yen
paperboard said balaclava enterprises ltd owned by morris belkin agreed to tender 982 pct of belkins common shares
this compares with the banks revised shortage forecast of around 400 mln stg
manufacturing industry output fell one pct with output of basic products down three pct capital goods down one pct and food tobacco and alcohol production 1 1 2 pct lower
fees comprised 1 1 4 pct selling concession with 3 4 pct for management and underwriting combined
qtrly div 301 cts vs 341 cts prior pay april 14 record march 31 note company said prior qtr includes end of year additional four cts dividend
he said the pledge by major industrial nations in paris last month to cooperate to hold exchange rates around current ranges applied in both directions a dollar fall or a dollar rise
a cash alternative would offer 646p for each share in superdrug
total supply includes imports but not broken kernels
but countertrade deals still make up only a small part of indias total trading and are likely to account for less than eight pct of the estimated 1853 billion dlrs in trade during the nine months ended december the sources said
dekalb corp said it sold its heinold hog market inc to the units employees through an employee stock ownership plan esop terms were not disclosed but president bruce bickner said the sale will have a positive but not substantial impact on dekalb as a whole
this kind of acreage reduction will mean a significant reduction in production an analyst said
a reagan administration official said this would show there had been some change in approach on the part of the central bank in germany
rice long grain and medium short grain rice average price for 1985 86 estimates and 1986 87 projections are market prices and exclude cash retained under the marketing loan since april 1986
he said the entertainment group which includes the hanna barbara animation studios is currently hampered by a glut of animated product
fuel switching could help us as much as five pct in increased demand shoup said referring to the gas industrys outlook for 1987
aqazadeh also visted opec members gabon algeria and libya
us officials have complained to japan that american firms are being squeezed out of work on kansai and threatened to restrict japanese construction firms in the united states if kansai is not opened to us companies
ameribanc investors group and cardinal savings and loan association jointly announced that the proposed acquisition of cardinal by ameribanc has been terminated by mutual agreement
but general partners said it plans to keep gencorps headquarter in akron ohio
in the case of gencorps rko general broadcasting stations reed said the plan of the partners is to step into gencorps shoes and proceed with plans to sell the stations
he said that recently there appeared to have been some speculative buying of the bonds from the us but that european investors had been overall sellers
todays dollar convertible eurobond for federal realty investment trust has been increased to 100 mln dlrs from the initial 75 mln lead manager salomon brothers international said
society for savings socso forms parent
billitons mine at onverdacht between paranam and the capital paramaribo is still working but moengo remains closed and the refinery is continuing to import some bauxite the billiton spokesman said
tajon ranch co trc 4th qtr net
fees comprised 1 1 4 pct selling concession with 3 4 pct for management and underwriting combined
if it is however he said that fed probably has just nudged up its funds rate goal to around 625 to 635 pct from six to 610 pct previously
nordson ndsn sets 3 for 2 split
shr 31 cts vs 41 cts net 436981 vs 583715 six months shr 63 cts vs 82 cts net 901648 vs 1160178
the state department said on friday that iran has been told about us concern over the threat to oil shipments in the gulf
us crude oil prices are at their highest level in more than a year ahead of next weeks opec meeting even though most industry analysts do not expect any policy changes from the session
southeast banking corp said it filed with the securities and exchange commission a registration statement covering a 50 mln dlr issue of convertible subordinated capital notes due 1999
cpl reit cntrs 4th qtr net
peripheral systems inc said it agreed in principle to acquire the outstanding shares of nucell inc the agreement calls for an exchange of one share of peripheral for each share of nucell subject to approval by both companies boards it said
barnes group said it expects sales and net income for 1987 will be up slightly over 1986
newmont will retain 15 pct of the stock
shr loss three cts vs loss 39 cts net loss 115000 vs loss 1544000 rev 69 mln vs 73 mln six months shr profit four cts vs loss 44 cts net profit 141000 vs loss 1772000 rev 139 mln vs 145 mln note net includes loss from discontinued operations of 78000 dlrs or two cts a share versus 597000 or 15 cts a share in the prior 2nd qtr
the analysts also said they expect jardine matheson to pay a total dividend of 15 to 20 cents a share against 10 cents a share in 1985
pius haffner of the catholic charity justitia et pax told it is at least a small step forward when the banks say publicly they will not jump in when other banks pull out
the first of the aircraft will be delivered in october 1990 and the second in may 1991
la electricidad president francisco aguerrevere will meet his bank advisory committee led by morgan guaranty to explain that unless government assistance is forthcoming the company cannot meet its obligations
raymond silverstein currently chairman of the board of united jersey bank fidelity will be chairman of the merged bank the company said
the central bank purchased bank bills outright comprising 41 mln stg in band one at 10 7 8 pct 361 mln stg in band two at 10 13 16 pct and 54 mln stg in band three at 10 3 4 pct
the dutch central bank said it allocated 4183 billion guilders at tender for the new 53 pct nine day special advances
sosnoff a new york investor already owns about four mln of caesars 303 mln shares outstanding or about 133 pct and is caesars largest shareholder
the best way to lower cost is to produce more said salomon brothers asia ltd analyst carole ryavec
shr 13 cts vs eight cts net 1364712 vs 881082 rev 116 mln vs 115 mln note qtr includes extraordinary gain of 586826 dlrs or six cts a share versus 183850 dlrs or two cts a share in fiscal 1986s first qtr
qtly div five cts vs five cts prior pay april 30 record april 10 note bf saul real estate investment trust
it also looks for 1987 full year fully diluted earnings to be about 20 pct higher than the record 431 dlrs a share reported for 1986
the february world supply figure is made up of 161 mln bpd opec crude production 14 mln bpd opec natural gas liquids ngls 166 mln bpd oecd crude and ngls 83 mln bpd other developing countries crude and ngls net trade of 11 mln bpd with centrally planned economies 05 mln bpd of non conventional crudes such as tar sands and oil from coal and 10 mln bpd from processiing gains
mcgrath rentcorp mgrc sees net rising
the five will be joined later by italy and canada for further debate on economic policy coordination
it operates a global packet switching network and global limits systems for foreign exchange trading
qtly div 30 cts vs 30 cts previously pay may 11 record april nine
t cell sciences inc tcel 3rd qtr jan 31 loss
results exclude business forms division which is to be sold
caterpillars stock was down 1 2 points at 46 1 4
dealing demand for gilts with coupons around 10 pct has been getting stronger the general manager of the local office of a british securities firm said
the rally wednesday in us interest rate futures left the treasury bond contract above the top of a three month trading range which signals a bullish chart breakout financial analysts said
it said holders of 534819 shares have agreed to tender their shares under the offer and have granted service control an option to buy them at 37 dlrs each
ekn bank of nidwalden is launching a 25 mln swiss franc 2 1 2 pct 10 year bond with warrants at par lead manager bank leu ag said
a reduction to 70 pct from 80 pct would enable bass strait output to be maintained at the current rate of 420000 barrels per day bpd for the next year rather than falling to 380000 bpd in 1987 88 he told the australian petroleum exploration association annual conference
loophole for tankers in norways s
after an economic contraction in the first quarter the economy should show an uptrend in the last three
the yield on 46000 hectares ha of rapeseed in central china will be cut by up to 70 pct by hailstorms and tornadoes that swept across nearly 100000 ha of crops on march 6 the new china news agency said today
the central bank sources also said japan may arrange other currency swap agreements with britain and france if they find it necessary but added they are not actually talking with each other towards that end
we were considering the sale at the right price at a time when the shares were priced around nine to 10 dlrs he added
new zealand trade minister mike moore told his colleagues great progress had been made in preparing for the current round of gatt negotiations which must not be sidetracked
the development bank of singapore ltd dbs said malaysias real gross domestic product growth gdp in 1987 could be 15 to two pct above a budget target of one pct
algoma central railway 4th qtr net
the newspaper said harrington may propose restoring the depletion allowance to major producers
about 50 pct of our foreign debt obligations fall due within the next three to five years and will steadily increase the debt servicing burden the paper said
salomon brothers and lf rothschild co managed the deal
greyhound g buys general motors gm bus unit
new zealands unemployment rate was 39 pct of the workforce in the quarter ended december 31 unchanged from a revised 39 pct preliminary 38 pct in the previous quarter but slightly above 38 pct in the year earlier quarter the statistics department said
the government would make foreign currency loans worth 25 billion dlrs to firms willing to import capital goods raw materials and equipment preferably from the us he said
about half the proceeds 40 mln dlrs will be used to reduce parent bally manufacturings debt which has swelled to 16 billion dlrs due to recent hotel acquisitions and the purchase of shares from donald trump who had threatened a hostile takeover according to bally treasurer paul johnson
loh said oub investment management ltd a subsidiary of the overseas union bank ltd has teamed up with a uk firm to launch the union global fund
argentine grain board figures show crop registrations of grains oilseeds and their products to february 11 in thousands of tonnes showing those for future shipments month 1986 87 total and 1985 86 total to february 12 1986 in brackets bread wheat prev 16558 feb 8720 march 1646 total 26924 41610 maize mar 480 total 480 nil sorghum nil nil oilseed export registrations were sunflowerseed total 150 79 soybean may 200 total 200 nil the board also detailed export registrations for subproducts as follows subproducts wheat prev 399 feb 487 march 132 apr 100 total 1118 827 linseed prev 348 feb 329 mar 68 apr 63 total 808 874 soybean prev 1009 feb 451 mar nil apr nil may 200 total 1661 2185 sunflowerseed prev 486 feb 615 mar 251 apr 145 total 1498 1453 vegetable oil registrations were sunoil prev 374 feb 1073 mar 245 apr 32 may nil jun 100 total 1824 1176 linoil prev 159 feb 236 mar 204 apr 20 total 618 761 soybean oil prev 37 feb 211 mar nil apr 20 may 90 jun 130 jul 70 total 558 337
thera care inc said it agreed to acquire cushing and associates of glendale calif in exchange for 1480000 thera care shares
final dividend is payable june 16 to holders of record may 26 shell transport dividend and per share results based on new york shares which are equal to four ordinary shares
weisfields inc weis 4th qtr net
the tie up is widely looked on as a lame duck because the fed was stricter than sumitomo expected said one analyst
the deal is effective march one 1987 expires july one 1997 and is renewable yearly thereafter he said
the payment date is june 1 1987
the interest has not been paid for january and february and will be paid april 9 to bondholders of record on april 8 the parent company said
the move followed comments yesterday by central bank governor mariano rubio who said money supply growth was too fast
halikias said he was fairly optimistic greece would reach a current account deficit target of 125 billion dlrs this year
american express co climbed 2 1 2 to 80 1 8 on rumors the company was about to announce an agreement to sell 10 pct of its shearson lehman brothers unit to nippon blife insurance of japan traders said
eligible corn and sorghum producers will receive another 1986 crop deficiency payment in october if the national average market prices received by farmers during the entire marketing year for both commodities are below the basic loan rates the department said
the policy shift followed a dramatic deterioration in the political situation and the onset of an economic crisis triggered by the refusal of major foreign banks to roll over loans to the country in september 1985
investment partnership ups facet fct stake
production in the november 1986 to january 1987 period totalled 129 mln tonnes
terms were not disclosed
berisford aims to produced balanced earnings growth from a combination of commodities property financial services and food
in an earlier statement faber said that if an offer were to be received for its stake in the merchant banking group it would be considered on its merits
the agreement struck late last year after months of heated negotiations called on japan to stop selling cut price chips on world markets and to buy more american made semiconductors
other companies to be sold to the private sector in the near future are television network tf 1 later this month and banking group cie financiere de suez fspppa in the autumn
as long as rolands stake in intermagnetics general is below five pct it is not required to report any further dealings in the companys stock
shr profit four cts vs loss 16 cts net profit 155383 vs loss 577336 note net includes tax credit of 51226 dlrs or one ct per share
but when asked if his association were forced to choose between a ten pct cut in target prices or a 0 92 program larry johnson of the corn growers said they would agree to 0 92 rather than take sharp cuts in target levels
major us banks may lift prime lending rates again within days due to recent increases in their borrowing costs and speculation the federal reserve is nudging up interest rates to help the dollar economists said
oper shr loss 44 cts vs oper loss eight cts oper net loss 3158000 vs profit 2035000 rev 1660 mln vs 1623 mln year oper shr loss 34 cts vs loss 93 cts oper net profit 7599000 vs loss 283000 rev 6433 mln vs 5763 mln note per share results after provision for pfd dividends
but lindner said he intends to review his investment in taft and may be involved in further talks or take other steps regarding the future control and direction of taft
it said it will proceed with a previous decision to phase in a new 100 mln pound staple fiber plant at carolina eastman
aristech said the expansion will increase the companys total polypropylene a thermoplastic resin capacity to 600 mln pounds annually from 515 mln pounds now
results restated for pooled acquisitions and share adjusted for stock dividends
mirroring the dollars fall to a 40 year low against the yen the key 7 1 2 pct 30 year treasury bond price fell nearly two points to close at 96 7 32 compared with 98 5 32 on friday
moreover some question whether concerted intervention can make much of an inpact if the overall market does not agree with the fundamental judgement
conable also said that he expected the result of a major study of the banks organization to be completed in the next several weeks
a notice of redemption will be mailed to noteholders march 27 it said
in a filing with the securities and exchange commission the group said it has had discussions with other taft stockholders and some company managers and directors concerning participation in a group to acquire control of the company
nippon steel inland discussing us joint venture
the institute had made the revision due to poor prospects for austrian exports he added
bayou byou in definitie merger agreement
the company said berisford would contribute its dutch and west german cocoa subsidiaries and issue new ordinary shares to grace in connection with the transaction
cut were the parents senior and guaranteed debt to aa 3 from aa 2 and subordinated debt to a 1 from aa 3 and the lead banks senior debt and long term deposits to aa 2 from aaa
attempts to refloat the vessel with the help of six tugs have been unsuccessful
japan security pacific finance is a wholly owned subsidiary of security pacific international finance inc which is owned by security pacific corp
ivorian agriculture minister denis bra kanon chairman of the international cocoa organization icco council will not be able to open the council session here tomorrow an ivorian icco delegate told 
moodys investors service inc said it may downgrade service merchandise cos 300 mln dlrs of ba 2 senior subordinated notes
first national bank corp the newly formed parent of first national bank in mount clemens mich and bankers fund life insurance co said it reached an agreement to buy a branch in clinton township from a nonrelated financial institution
the east asiatic company ltd a s is raising 150 mln marks through a 5 1 2 pct bullet eurobond priced at 100 1 4 lead manager commerzbank ag said
qtly div 20 cts vs 20 cts prior pay may 20 record may four
regarding inflation recent figures have suggested that prices were under control
asked if the latest economic reports signal this rate of economic growth is attainable sprinkel said it looks pretty good to me
shr 52 cts vs 45 cts net 109 mln vs 9498000 assets 360 billion vs 325 billion deposits 245 billion vs 223 billion loans 216 billion vs 167 billion note full name of company is central bancshares of the south inc
shr 18 cts vs 14 cts net 1852000 vs 1488000 revs 447 mln vs 359 mln nine mths shr 41 cts vs 34 cts net 4233000 vs 3512000 revs 1238 mln vs 984 mln note full name is american management systems inc
but it wont make out as well as they think
kingdom of sweden issues 100 mln stg bond
the agreement would be calculated on the basis of perelmans previous holding of 184 mln shares adjusted for a split
a spokesman for the bundesbank in frankfurt said the central bank would also not be represented
ubs has become the second foreign firm to manage an issue in the domestic debt market this year following daiwa securities america inc
bolivian foreign minister guillermo bedregal told reporters west germany would provide 300 mln marks to help fight bolivias cocaine trade
in february 1987 the brazilian government citing a declining level of foreign currency reserves declared a moratorium on the payment of interest on the countrys medium and long term debt obligations
the company said that under the definitive agreement qintexs us division will have the right to purchase up to 51 pct of the new company in the open market in private transactions or by tender offer but will not be purchasing warrants to bring its ownership to 51 pct of the new company
the european community ec delivered warnings to both japan and the united states over trade frictions which have hit relations between the community and its main trading partners
kenneth mccormick a co chairman of the isda and president of kleinwort benson cross financing inc said the bank of england and the us federal reserve board were expected later today to announce joint proposals for setting minimum capital standards for counterparties in swaps
gordex said the expansion of the cape spencer facilities is intented to enable it to operate 24 hours a day throughout the year
the turnaround in official transactions to a 152 billion inflow from a 555 mln outflow in the third quarter against a 520 mln inflow a year earlier was largely on account of government foreign currency borrowings it said
under new provisions weightings would be attached to securities similar to those used for lending
the maximum 80 pct levy on old oil that discovered before september 1975 is now forcing the broken hill pty co ltd brkns exxon corp xon partnership to shut in production accelerating the decline in output and reducing government revenue he said
if they come out as aggressive sellers the market would collapse and they cant afford to do that she added
while sosnoffs bid depends on several factors including licensing by both the nevada and new jersey gaming commissions the deal could result in a significant increase in caesars worlds leverage the rating agency said
he said the us debt strategy is sufficiently broad as an initiative to include plans like the philippines
the company declined to say when the board would meet again
the shares rose 11 cts to 88 cts on the toronto stock exchange yesterday
the debt filing was registered under the secs shelf procedure which gives the utility up to two years to sell its debt
uk chancellor lawson says there may be need to cut interest rates in some countries
goody products inc good year end oper net
he said it would raise production and return 120000 oil workers to their jobs but at the same time it lifted oil prices the higher prices would cost 400000 jobs nationwide and cut the gross national product by 32 billion dlrs
chemed corp che 3rd qtr net
the statement repeated the request gencorp remove a poison pill preferred share purchase rights to shareholders making any takeover more expensive
but tian told a news conference the chinese government still considered fecs unsatisfactory
he said cathays growth last year was the result of a marginal increase in the revenue load factor coupled with savings in fuel costs at present fuel prices are stable and will remain stable for the rest of this year he said though there might be a bit of increase later this year miles said swire is not abandoning its offshore oil service operations even though the marine sector is generally depressed
babcock international plc babkl said in a statement accompanying final results for 1986 showing pretax profits up to 3709 mln stg from 3455 mln in 1985 that overall further progress is expected in 1987
piedmonts board was meeting today and wall street speculated the board was discussing opposing bids from norfolk southern corp and usair
group net profit in 1985 was 596 mln marks parent company net was 477 mln marks
dauphin deposit corp said it signed a definitive agreement to acquire colonial bancorp inc the agreement calls for colonial to be merged into dauphin deposit corp and colonials subsidiary new holland farmers national bank to be merged into dauphin deposit bank and trust co the lead bank of dauphin deposit corp the company said
theyre really making the discount houses suffer said stephen lewis economist at brokerage house phillips and drew
it said another 400 mln dlrs of seven year 3 month bonds will be auctioned april 1
canadas wilson seeks temporary borrowing
the state gold mining corp of ghana granted the venture an additional 145 square kilometers in teberebie ghana contiguous to 115 square kilometers granted earlier the company said
geico corp gec raises qtrly dividend
pickens is 58
the rumor also was accompanied by talk the financial services firm would split its stock and boost its dividend
return on permanent capital is estimated at between 15 and 16 pct versus an average of 184 pct
the sources said it was absurd to talk of reflation when the countrys internal debt expected to grow by 10 pct this year from 1300 billion francs in 1986 was growing twice as fast as gross domestic product
dow did not release the percentage increase
the unadjusted year on year rise was 176 pct after 181 pct in the year to december
fitzwater said reagans strong feelings against a tax hike included opposition to an oil import fee
there were no surprises in our package one participant said
goldsil and golden rule agree to merge
they added that such a decline from 1985 86 would be no surprise noting bhp has said that it would be difficult to equal its record 1985 86 net profit
pre equity pre tax earnings 5952 mln dlrs vs 6413 mln
at a drexel burnham lambert investor conference coopervision chairman parker montgomery said as previously announced he will listen to any bid that makes sense for shareholders
we think we can try to get a little part of their roost he said
recent international coffee organization ico negotiations in london exemplified the degree to which consumers insist that agreements reflect market reality commodity analysts said
csr ltd has made a bold move in selling its oil and gas interests for almost a billion dlrs and ploughing 150 mln into its traditional sugar business share analysts said
the exposure will be determined to exist for a maximum of 28 days following a binding commitment to underwrite
doe reaches proposed oil settlements
the company plans to drastically reduce debt with proceeds from asset sales
chrysler c values amc amo at 757 mln dlrs
gaf gaf seeks information on borg warner bor 
india cut the export duty on coffee to 330 rupees per 100 kg from 600 rupees effective march 23 a coffee board official said
turnover was 18 pct lower than in 1985
japan rejects us objections to fairchild sale
i think instinctively they want to remain independent said dudley heer of duff and phelps
for the longer term while confusion will continue to bring clients into blocks 8866 tax preparation offices worldwide there are some changes in the act that will have a negative effect bloch conceded
we feel it is a profitable business with good growth potential and we now want to stay in it if we can get the right management de groote said
corrected network video inc nvid 3rd qtr
shearson being as profitable as it is would have fetched a big premium in the market place
canada rules us corn injuring canadian farmers upholds duty
the latest argentine action marked the second time in less than two years its government has used a wage and price freeze to restrain inflation
the acquisition is subject to the approval of its shareholders
fuel oil products were steady to firm on light demand and tight prompt supplies dealers said
kuwait has backed iraq in the seven year war against iran and its ships have increasingly been the target of iranian attacks
walker added that britoil would feel confident if the price stayed within a band of 15 dlrs to 20 dlrs a barrel
ecuador is considering measures for dealing with its foreign debt following the earthquake that killed 300 people left 4000 homeless and cost the country close to a billion dollars information minister marco lara told 
shr loss 567 dlrs vs loss 517 dlrs net loss 17 mln vs loss 154 mln year shr loss 1242 dlrs vs loss 960 dlrs net loss 370 mln vs loss 285 mln note 1986 4th qtr and year net includes 119 mln dlr and 438 mln dlr provision respectively for possible land and real estate losses
protocomdevices prcm sees more profit erosion
cineplex odeon buying coke ko cinema unit
qtly div 40 cts vs 40 cts prior pay may 15 record may one
but everything is on hold now the smc spokesman said he did not know if the controversy would be resolved before the companys annual stockholders meeting scheduled for may 14
andriessen hints fats oil tax could go to summit
the narragansett taft group will provide the equity portion of the offer by contributing at least 125 mln dlrs in cash and taft broadcasting common narragansett said
santos alvite said earlier in quito that ecuador would have to import six to seven mln barrels of crude oil to meet its needs until the line was repaired
a report from washington yesterday said the study has found that japan has the highest agriculture subsidies in the world and that dairy farmers benefit more than any other commodity producers from subsidies
us completions of new homes fell 02 pct in january to a seasonally adjusted rate of 1884 mln units from 1888 mln in december the commerce department said
vishay vsh sets two pct stock dividend
in its latest report on current economic conditions the fed said that economic activity in the various regions of the country ranged from uneven or steady to improving
gross fees of 1 1 2 pct comprise one pct for selling and 1 2 pct for management and underwriting combined
year net includes lifo inventory charges six cts shr vs two cts shr
oper shr loss 160 dlrs vs loss 117 dlrs oper net loss 4261000 vs loss 2816000 revs 289 mln vs 117 mln avg shrs 2817616 vs 2685592 year oper shr profit 23 cts vs loss 110 dlrs oper net profit 863000 vs loss 2390000 revs 859 mln vs 604 mln avg shrs 2754258 vs 2541967 note excludes loss of 19 mln dlrs vs loss 35 mln dlrs in qtr and gain 46000 dlrs vs loss 39 mln dlrs in year from discontinued operations
bank of america nt and sas bacn west german branch said it is negotiating the sale of bankhaus centrale credit ag a small local west german bank it acquired in 1965 and of its west german visa credit card operation
yield per harvested acre 219 cwt per acre vs 218 cwt per acre previously estimated the department said
this will change the way oil is transacted in the real world said said thomas mckiernan mckiernan and co chairman
from today the price of meat will rise by an average 18 pct and that of beer and spirits by 10 pct mti said
the committee said us technology export restrictions and selectiveness towards foreign contractors had denied british competitors more lucrative orders and largely excluded them from technological research for sdi
dixons group said it accepts 54 pct of cyclops shares in tender
this they said could provide sudan with a clean bill of health from the imf that it could take to western government creditors grouped informally in the so called paris club to reschedule debt payments
furthermore the committee passed an amendment offered by rep
oper shr 154 dlrs vs 82 cts oper net 337 mln vs 1766 mln revs 4731 mln vs 4190 mln nine mths oper shr 460 dlrs vs 239 dlrs oper net 1004 mln vs 510 mln revs 138 billion vs 121 billion assets 185 billion vs 155 billion deposits 1300 billion vs 1129 billion loans 1504 billion vs 1256 billion note oper net excludes extraordinary loss 6636000 and 119 mln for 1987 qtr and nine mths on prepayment of borrowings from the federal home loan bank board
a deutsche bank ag dbkgf spokesman said it is cutting leading savings rate for private customers on a regional basis by 05 percentage points to two pct
area sown to sunflowers was two to 22 mln hectares 299 to 363 pct below the record 314 mln hectares last season
cons banking gp balance sheet total 2397 billion vs 2273 billion
essos price for 95 octane remains unchanged at 908 cents
shr 10 cts vs two cts net 262000 vs 38000 revs 112 mln vs 5858000 avg shrs 2589045 vs 2588364 nine mths shr 46 cts vs 26 cts net 1179000 vs 601000 revs 327 mln vs 187 mln note all per shr data adjusted to reflect 10 pct stock dividend distributed in 2nd qtr 1987
antara quoted him as saying indonesia is relying on its export drive to help narrow its trade deficit
international thomson organization ltd said it planned an issue in all of canada except quebec of two mln 185 dlr cumulative redeemable retractable series one preferred shares
teva teviy sells promedico subsidiary
an additional 3925 head of dairy cattle are still available to the canary islands under the export enahcnement program initiative announced july 28 1986 it said
akers was relatively more upbeat in assessing the companys outlook than he has been for nearly a year
hawkins chemical inc hwkno 2nd qtr mar 31 net
foothill group fgi completes debt placement
australia stock exchanges enter new era
this compares with the banks revised estimate of a 750 mln stg shortfall
a low index figure indicates a high value for the crown
oecfs chief representative takashi matsuya told reporters the japanese government is appraising the loan
the rediscount debt of the banking system fell 800 mln marks to 552 billion marks the bundesbank said
hudson bay mining and smelting co ltd said it cut prices for all grades of zinc sold in north america by one us cent a pound and by one canadian cent a pound effective immediately
other more technical issues still outstanding include whether the buffer stock should buy at a single announced posted price as in the previous pact or by announcing it is buying then accepting offers
in its quarterly rice outlook and situation summary the department said us rice use may surpass production during the 1986 87 marketing year causing stocks to fall about 10 mln hundredweight from a year earlier to an estimated 67 mln cwt on july 31
the european community ec sold 75000 tonnes of soft wheat at a subsidized price of between 85 and 89 dlrs per tonne fob for march delivery in a continuing bid to establish itself in the brazilian wheat market the us agriculture department said
a major loophole in the general agreement on tariffs and trade has been closed today a senior us official here commented
ptt wants to develop the field and has asked statoil to consider co development if the fields licence is renewed
1987 us soybean loan should stay same amstutz
chrysler working through manufacturters hanover trust co bought mexican public sector debt with a face value of 110 mln dlrs mainly from european banks
ec ministers extend beef milk marketing years
the commission sequestered the stock on suspicion that the real owner of the block was eduardo cojuanco the former chairman of san miguel and the ucpb and a close associate of deposed former president ferdinand marcos
the bank said nervousness in the wholesale deposit market is creating uncertainty about the immediate outlook for interest rates
qtly div 16 cts vs 16 cts prior pay april one rcord march 20
brokers said many investors are transferring funds into government company bonds because of their tax free status and easy transferability
at the time of the louvre agreement european countries did not want the yen to weaken against their currencies so they did not object to the yen strengthening they said
a us offer last fall to sell the soviets lower priced wheat through the export enhancement program eep was also rebuffed due to the price
a sinking fund starting in 1998 to retire five pct of the debentures a year can be upped by 200 pct at the companys option giving them an estimated minimum life of 139 years and maximum of 205 years
if prices rise by too much too quickly everyone is more than well aware of the danger the selling could set in again commented another frn market source at a large japanese house
she also denied reports that the company was considering an issue of convertible bonds with warrants in the us were not thinking of issuing bonds she said
great american bancorp grtb 4th qtr net
the senate voted to condemn the proposed european common market tax on vegetable and marine fats and oils and said it would result in retaliation
shr loss 198 dlrs vs loss 524 dlrs net loss 233 mln vs loss 448 mln revs 136 mln vs 296 mln note 1986 net includes nine mln dlr extraordinary loss for oil and gas writedowns and unrealized foreign exchange losses vs yr ago loss of 325 mln dlrs
with troops in place in brazils ports and oil installations the government of prersident jose sarney today sought to end a wave of labour unrest by a show of force
conrac corp sait has started negotiations with several interested parties on its possible acquisition
theyre clearly committed to enhancing shareholder value however some analysts worry about how gm will pay for the buyback and whether new models will enable the carmaker to recapture lost market share
about 500 mln dlrs of tuesdays float reflected non weather related transportation float in one eastern reserve bank
in other action nuclear data said it set up a 125 mln dlrs reserve to cover the revaluation of certain domestic medical inventory and the redirection of its us medical sales efforts
over one third of australias indirect tax income is derived from oil at a time of falling domestic output and weak crude prices he told the apea annual conference here
the company said it bought best plaza shopping center in pleasanton calif for 12 mln dlrs and bristol place shopping center in santa ana calif for 164 mln dlrs
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
concord fabrics inc said it has restructered its long term debt with an institutional lender
i do anticipate a significant increase by 2000 thirty three dlrs a barrel is not unreasonable hodel told the senate energy committee
central bank governor arifin siregar said earlier this week that indonesia could look forward to better economic prospects in 1987 88 but added the speculators who led a run on the rupiah late last year could again pose problems
zack said the companys offer for a cut in wages was unacceptable and said ibp was refusing to bargain in good faith
the company said first boston has committed to provide all financing necessary to acquire such securities in the tender offer which is estimated to be about 500 mln dlrs
shr profit 10 cts vs loss 17 cts net profit 206000 vs loss 281000 revs 102200 vs 344000
prudential bache analyst larry eckenfelder said he doubted the speculation about american express
of the 203 billion dlrs advanced by the world bank inter american african and asian development banks in 1980 84 only 100 mln dlrs went to forestry projects it said
financial services saw profits double to 282 mln with both eagle star and allied dunbar achieving further growth
they particularly welcomed the goal of an immediate increase in public works spending but lawson said the package also involved a second stage to increase expenditures during the second half of this year
shr 172 dlrs vs 87 cts net 330000000 vs 167000000 sales 336 billion vs 274 billion avg shrs 192200000 vs 191700000 nine mths shr 462 dlrs vs 295 dlrs net 888000000 vs 564000000 sales 978 billion vs 831 billion avg shrs 191100000 vs 191500000 note earnings include a loss of 30 mln dlrs or one ct a share in the 1986 quarter from early extinguishment of debt earnings include losses in the nine months of 30 mln dlrs or two cts a share vs 80 mln dlrs or four cts a share from early extinguishment of debt
safeguard health sfgd 4th qtr loss
the growth rate of brazilian industrial output slowed in january to 609 pct above the same 1986 month after rising 671 pct in december brazilian geography and statistics institute figures show
shr 50 cts vs 40 cts net 9421000 vs 9312000 rev 377 mln vs 363 mln avg shrs 17049920 vs 21173570 note per share results adjusted for two for one common stock split in june 1986
producers still seem divided on how to overhaul the quota distribution system with some producer delegates reporting growing support for a radical reallocation based on the principle of objective criteria favoured by consumers
the united states should take urgent action to cut its crippling budget deficit including possible reductions in non defense spending higher taxes and curbs on growth of the defense budget the organization for economic cooperation and development said
rocky mount rmuc expects profit in first qtr
if the price holds steady for a while at 760 cents i expect the level to rise to about 11 cents a pound by the end of this year he said
a second bid has come from the west german electronics group siemens ag siegf which hopes to take a 20 pct stake in cgct with the french telecommunications jeumont schneider taking the remaining 80 pct
in the meantime however the market looks a bit oversold said jim wysoglad analyst at golden gate futures
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
it added markets should therefore be aware that 180 marks is not the lower limit for the dollar a rate of 170 marks or even less is expected this year and london broker hoare govett said in its march 1987 economic report we are looking for a further more gradual fall possibly to 160 marks by the end of the year but opinion about whether the paris accord was still in force was not universal
black told shareholders that first quarter operating earnings on continuing operations amounted to 499000 dlrs against a year ago loss of 165000 dlrs
countrywide credit ccr sets higher dividend
the bond is on sale until march 19 with payment due april 10
highveld steel and vanadium corp ltd said it expects 1987 earnings will be lower than last years previously reported 85 cts a share
these factors helped italy cut inflation to an average 63 pct in 1986 down from 93 pct in 1985
quebec caisse desjardins brings euroyen bond
corrected banco di roma unit arranges
african development bank loans rose 42 pct in 1986
investors can sell the notes back to the company in 1992
saudi arabia is the architect of the current pricing and production pact which is backed by kuwait and the uae
the midam specializes in mini contracts in grains livestock metals financials and foreign currencies as well as some options contracts
nashashibi said lack of experience among arab banks a paucity of financial instruments and a legal framework that often does not recognise the western banking concept of interest have hampered the growth of arab markets
intercare inc said it terminated plans to acquire universal care a california health mainenance organization following first jersey securities decision to withdraw as underwriter for intercares proposed public debt and equity securities offering
by 99 to 0 the senate went on record against the 849 cents per bushel tariff approved by the canadian import tribunal
qtly div 10 cts vs 10 cts prior pay may 1 record april 10
we are still concerned about s and w berisford being long term owners of british sugar a spokesman said
snc canadas second biggest engineering and construction group became the countrys largest ammunition manufacturer last year with its 90 mln dlr acquisition of canadian arsenals ltd from the canadian government
reagan announced last march 27 he would impose the tariffs on certain goods taken from a list that ranged from computors and television sets to power tools and photographic film
a spokesman for the indonesian importers association also denied knowledge of the import plan
full name of company is first federal savings and loan association of chattanooga
worldwide production by the consolidated subsidiaries declined to 341 mln barrels last year from 362 mln in 1985 and upward revisions in previous reserve estimates rose to 143 mln barrels from 117 mln respectively
santos ltd stoss year end dec 31 net profit 8867 dlrs vs 14404 mln
gencorp gy proposals withdrawn from meeting
shr 15 cts vs 12 cts net 1240939 dlrs vs 989714 dlrs revs 329 mln dlrs vs 211 mln dlrs note first quarter ended may 31
the stock will be redeemed april 30 at the scheduled redemption price of 10150 dlrs a share plus accrued and unpaid dividends
it said us regulatory authorities and the bank of england were keen to encourage banks to net contracts consolidate multiple contracts with the same counterparty into one single agreement to create one single payments stream
they want to deal in securities they want to go into investment banking they want to go into the turnover business rather than the carry business fernandez said
as previously reported gabelli and co inc acting as investment advisor to a group including gabelli rosenthal proposed on june 25 to acquire all digiorgio common shares for a per share price of 20 dlrs in cash a subordinated note with a face value of eight dlrs 14 pct redeemable preferred stock and one common share of the post buyout company
metal traders said asturiana has the largest zinc smelting capacity in europe nearly 200000 tonnes a year of 99995 pct high grade zinc at aviles in northern spain
wall street sources also said today that a rival bidder might be discouraged by a breakup fee purolator would have to pay if it ends its agreement with hutton
y rough equivalent
there will initially be no tax on re exports of maize and sorghum from spain to other ec countries although such a tax could be imposed later the sources added
it will continue through march and april but he expected the situation would later improve
the measure was the latest hard line debt stance adopted by the government of president alan garcia one of latin americas most delinquent debtors
but any major decisions would have to be reserved for ec foreign ministers diplomats said
robert halmi sr who is currently chairman and chief executive officer of robert halmi inc will be chairman of the new company and david evans current president and chief operating officer of hal roach will become chief executive the company said
turkish ship in oil row heads for aegean
ef hutton lbo inc said its wholly owned pc acquisition inc subsidiary which is the entity making the offer extended both expiration date and the withdrawal rights period for its pending tender for 63 mln shares or 83 pct of purolator common
the yens tendency to rise will prevent japan from expanding domestic demand and undertaking necessary economic restructuring he said
united biscuits ubisl 53 weeks to january 3
canadas ruling in favor of a duty on us corn was a keen disappointment to the national corn growers association and has set a dangerous precedent for other nations to follow said mike hall lobbyist for the association
the senior banker said that the remaining issues include interest rates and the exact form of the investment notes plan
at those talks baker apparently convinced goria who declined to attend the february meeting of the group of seven in paris that italy would participate fully in any meaningful decisions
between 1981 and 1983 a team of canadian veterinarians funded by the united states canada mexico and costa rica supervised the slaughter of all haitis 1200000 pigs under a program to eradicate african swine flu
sahlen and associates inc said it has completed the purchase of gleason securities service inc of new york and gleason plant security inc of connecticut
the commission is expected to approve the application at a meeting tomorrow
the sugar import quota for the 1987 quota year january december has been set at 1001430 short tons compared with 1850000 tons in the 1986 quota year which was extended three months to december 31
hard winter 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stocks 1009 1009 717 717 production 1018 1018 1230 1230 ttl supply x 2027 2027 1947 1947 domestic use 599 579 543 543 exports 450 475 395 395 total use 1049 1054 938 938 end stocks 978 973 1009 1009 note season begins june 1
the crop accounts for over 90 pct of ugandas export earnings and the recent slide in prices to four year lows is likely to more than offset an expected increase in production
brazil wants to resume interest payments on its medium and long term foreign debt as soon as possible and is willing to discuss ways of softening the impact of the payments suspension on bank earnings central bank governor francisco gros said
mti said consumer goods will also become more expensive with the price of refrigerators rising some five pct
coal costs were down 03 pct last month after rising 04 pct in january and were down 08 pct from a year ago
continental materials corp said its directors decided not to give further consideration to business combination proposed by a stockholder group that holds 52 pct of continental materials stock
the merged banks would have assets in excess of 25 billion dlrs and be one of the 25 largest banks in the us norstar operates in most of new york state but not in new york city
hallmark stores inc is raising 13713 mln dlrs through a three tranche offering of secured bonds said lead underwriter salomon brothers inc
willcox and gibbs inc said it has agreed to acquire atlantia electric parts distributor b and w electric supply co for an undisclosed amount of cash
weve had encouraging results from the eastern portion of the field and we hope this summers drilling will prove up additional reserves there the company said
the sale will raise the bill supply to 1500 billion yen
ascs also bought 111 mln pounds of bakers flour for 11 mln dlrs 19 mln pounds of pasta for 408258 dlrs 14 mln pounds of processed cereal products for 304043 dlrs 48 mln pounds of corn products for 474944 dlrs and 163 mln pounds of milled rice for 20 mln dlrs
bolivian tin miners start hunger strike
indications of a heavy sign up in the conservation program recently lowered most trade estimates of corn planted acreage to 630 to 670 mln acres from 670 to 690 mln
after the merger breast centers shareholders would become the majority shareholders of the combined company
us defense officials told yesterday that kuwait had decided for at least the time being not to accept a us offer to use american warships to escort its tankers in the gulf where both iran and iraq have been attacking shipping
ussr heavy buyers of yugoslav corn us report
the issue will be listed in luxembourg
lead underwriter first boston corp said friday it has tentatively scheduled the securities for pricing today
rykoff sexton inc ryk 3rd qtr jan 31 net
shr 27 cts vs not given net 617000 vs 550000 loans 928 mln vs 847 mln deposits 1219 mln vs 1194 mln assets 1554 mln vs 1524 mln note prior share not given due to june 18 1986 conversion to stock ownserhip
in a previous sec filing the group has said it has decided to try to seek control of prime medical through a tender offer exchange offer proxy contest or other ways
the peoria and la grange locks on the illinois river are still scheduled to close july 13 for two months of repairs
soybean oil 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk named a 88 104 nil nil unnamed b 70 105 nil nil eoa c nil nil nil nil oop d nil nil nil nil gr total 158 209 nil nil ay expd e 1384 1358 ind ttl f 1542 1567 usdaprj g 6100 6100 soybean cake and meal 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk named a 7880 8697 507 484 unnamed b 760 940 nil nil eoa c 27 61 nil nil oop d nil nil nil nil gr total 8667 9698 507 484 ay expd e 40980 38806 ind ttl f 49647 48504 usdaprj g 57600 57600 cottonseed oil 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk named a 74 72 nil nil unnamed b 03 03 nil nil eoa c nil nil nil nil oop d 78 78 nil nil gr total 154 152 nil nil all upland domestic raw cotton y 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk named a 20079 20761 4682 4572 unnamed b 203 202 nil nil eoa c nil nil nil nil oop c nil nil nil nil gr total 20282 20963 4682 4572 ay expd e 43331 42047 ind ttl f 63613 63010 usdaprj g 63350 63350 y in thousand running bales
kemper corp kemc regular payout set
yield at issue is 1389 pct
although public service recently received a disappointing rate order from the new jersey board of public utilities the agency believes the companys strong financial management should help maintain debt protection measurements within current levels over the next few years
the problem goes deep and centres on misunderstandings by both sides over the key maekawa report of april last year
canada slapped a 105 dlrs per bushel duty on us corn imports in november 1986 but reduced the duty to 85 cts last month because the canadian government said us subsidies to corn producers were less than canada earlier estimated
board will decide on april 24 whether to pay a dividend
bnl announces net 1986 profits in bank sector
wheat sales to china of 60000 tonnes were switched from 1986 87 to the 1987 88 season it noted
taco villa tvla in debt talks may sell assets
due may 26 1992 paying 10 pct and priced at 100 1 2 pct
the united food and commercial workers union said unlisted safeway inc has agreed to provide severance pay to about 5000 workers in the dallas area resulting from the closure of a division last april
at least one however estimated the company could be taken over in a range of 38 to 42 dlrs per share
yugoslavian bank gets 90 mln dlr world bank loan
the semi official anatolian agency recently quoted turkish minister of industry and trade cahit aral as saying turkey will export 100000 tonnes of sugar this year and import the same amount
the bank of japan will sell tomorrow 200 billion yen of financing bills under a 50 day repurchase agreement maturing on may 2 to help absorb a projected money market surplus due largely to distribution of local allocation tax ahead of the march 31 fiscal year end money traders said
we are sitting on a barrel of powder but fortunately it may still be wet he added
mexico was the dominant buyer for the current year followed by zaire italy and spain the department said
this compared with deliveries of 2438 mln tonnes in 1985 86 august july estimated 1986 87 maize deliveries were also left unchanged from onics previous forecast at the beginning of february at 991 mln tonnes against 1077 mln the previous season
shr loss 39 cts vs profit 19 cts net loss 433424 vs profit 216117 revs 6469001 vs 8221549
he is also a keen sportsman who likes to watch football and play golf
lawson told a london television interviewer tuesday i think the scale of the stock fall was very great
us energy futures called unchanged to lower
the company said it is not yet known how long the jetty will be out of use but it hoped that by tomorrow unloading of the bulk carrier mykon wave will be able to continue using temporary arrangements tate and lyle said
the soviet union has agreed to supply iran with refined oil products in exchange for 100000 barrels per day of crude irans national news agency irna said
the newly issued shares raises champions outstanding shares to 3113074
analysts said bond international is heavily geared as it has relied on bank borrowings to purchase both the hongkong land properties and the hk tvb shares
then however central banks had an easy time of it because the markets and the treasuries of the major industrial powers were agreed that the dollar needed to head lower to redress massive worldwide trade imbalances
a senior foreign ministry official who declined to be identified told the us threats have undercut those in the government who argue for conciliation
the company said the lower rate results from a reduction in the average price the pipeline is paying for gas adding this reflects contract reformation agreemats with producers
for one thing there is justifiable concern that countries might be relunctant to intervene if they felt it might be detrimental to their own domestic economy
first of america bank inc fabko 1st qtr net
analysts noted the significance of the governments apparent success in preventing fujitsu from taking control of fairchild
fed funds were trading at 6 3 16 pct at the time of the purchase which came several hours before the fed normally transacts business for its customers
other than that the firm said there was no specific purpose in its purchases
freeing of stocks through certificates is making us grain more competitive on world markets it said
stoltenberg said the wide range of predictions showed how many imponderables had to be taken into account and said no drastic changes in official forecasts were needed
its been one of the dullest corporate battles ive seen said one analyst
earlier today london traders had expected the subsidy for the current season whites campaign for licences to end aug to be between 4410 and 4450 ecus per 100 kilos
the raise brought its posted prices for west texas intermediate up by 50 cts to 1700 dlrs a barrel
first boston won the bonds in competitive bidding
burke parsons bowlby corp sets regular payout
the january november export total of 289232 compares with 165859 tonnes in the first 11 months of 1985
statoil said aker verdal a unit of aker norcem a s amvool won a 300 mln crown contract to design and build the well head platforms 10000 tonne steel substructure to stand in 150 metres of water next to the converted rig
bradley will also be entitled to a one time additional rental payment of 30 cts a share upon bced entering into a space lease with a prime national tenant and a share in a portion of net cash flow from operations on the property
distillate fuel stocks held in primary storage rose by 628000 barrels in the week ended april three to 10696 mln barrels from a revised 10633 mln the previous week the american petroleum institute said
bay state gas bgc preferred upgraded by s p
the new long term note for 19 mln dlrs was primarily the balloon portion of a 41 mln dlrs loan agreement signed in february 1985 as part of a chapter 11 reorganization plan
oper shr loss six cts vs profit four cts oper net loss 165000 vs profit 83000 sales 2413000 vs 921000 avg shrs 2908770 vs 2203462 year ope shr profit five cts vs profit five cts oper net profit 124000 vs profit 106000 sales 5652000 vs 1623000 avg shrs 2369949 vs 2061102 note net excludes losses from discontinued operations of 548000 dlrs vs 14000 dlrs in quarter and 696000 dlrs vs 21000 dlrs in year
the company earned 394 mln dlrs in 1986 including pretax gains of 115 mln dlrs from pension income and 7400000 dlrs from the settlement of vested pension obligations down from 415 mln dlrs in 1985
south korean trade minister rha woong bae said his nation would maintain a trading surplus for three to five years as a way to cut its foreign debt
before they had burlington northern on their side now burlington is opposed to the way trackage rights are set up if the hearings are reopened analysts predicted it will take six to nine months for everyone to have their say and up to another year for the icc to decide
inspiration lowers copper price to 6650 cts lb
each nation must negotiate its debt independently according to its own needs brazilian foreign minister ramiro de abreu sodre said in caracas at the weekend
shr 17 cts vs 13 cts net 598000 vs 392000 sales 102 mln vs 7474000 avg shrs 3432000 vs 3045000 year oper shr profit 105 dlrs vs loss 47 cts oper net profit 3498000 vs loss 1427000 sales 522 mln vs 408 mln avg shrs 3320000 vs 3060000 note latest year net excludes 782000 dlr tax credit
willis faber plc said its 208 pct holding in stockbrokers morgan grenfell group plc mgfll was not up for sale
bank of france cuts intervention rate
as long as that continues were okay he added
in addition to these firm agreements mannesmann is also talking with the state owned steel group salzgitter ag salgh on buying its 2498 pct stake in fichtel und sachs
renouf corp ltd said it sold its 1083 pct stake in nzi corp ltd to brierley investments ltd bil for 2077 mln nz dlrs
japan said it understood why the us attacked an iranian oil platform on monday
opec defending 18 dlr price subroto says
previous prices in parentheses
the book value of its assets is 44 mln stg
shr 51 cts vs 75 cts net 5524000 vs 8094000 revs 1424 mln vs 1372 mln note 1986 and 1985 year net includes loss 785000 dlrs or eight cts a share and 59000 dlrs or one ct a share respectively for discontinued operations
earlier alpha health systems corp a unit of pesch and co said it submitted a merger proposal to the board of reph acquisition co the parent of republic health
they said the fed is expected to execute anywhere from 15 20 billion dlrs of customer repos to offset seasonal pressures on bank reserves
exports of french soft wheat for the period july 1 1986 to march 1 1987 fell 276 pct to 821 mln tonnes from 1134 mln tonnes in the same 1985 86 period the national cereals office onic said quoting customs figures
texas industries inc txi 3rd qtr feb 28 net
stora announced last september it would acquire papyrus at a price of 58 billion crowns thus forming europes second largest forest group after london based reed international plc reed l
at the saatchi and saatchi annual meeting today the company reported a particularly strong start to the current year with profits sharply higher than the same period last year
diversified building materials group monier ltd mnras said talks are taking place which may lead to britains redland plc rdldl making an offer for the monier shares it does not already hold chairman bill locke said
emery said its offer is scheduled to expire at 2400 est on april 28 unless extended
he added it was possible first city would sell more of the banks remaining 14 billion dlrs in oil related loans to raise cash
another source also requesting anonymity said colombia probably will not attend
a finance ministry spokesman asked for an official ministry reaction to bakers remarks said he could make no comment
merrill lynch in no way benefited from the trades merrill lynch said vaskevitch was suspended when we were informed of the specific allegations and evidence the company did not say precisely when the suspension took place
last weeks american petroleum institute report said that us refining capacity rose three pct to 787 pct of capacity with crude oil runs at 122 mln barrels per day for the week ended march 20
finnish wholesale prices rise 02 pct in february
caltex petroleum corp a joint venture between chevron corp chv and texaco inc tx said it raised posted prices for several petroleum products in singapore effective today
santos said the outlook for 1987 depended on prices and production volumes but with extra oil exploration and encouraging gas finds there were grounds for optimism
the february surplus last year was 189 mln dlrs
the joint report said that the estimates of economic development made by the diw and ifo were markedly less favourable than those of the other three
income tax provisions 2200000 dlrs vs 3450000 dlrs in quarter and 6200000 dlrs vs 7225000 dlrs in half
federal reserve board chairman paul volcker said both the fed and the financial markets remain concerned about the possibility of renewed inflation
teck hock owes more than 100 mln singapore dlrs and since last december the banks have been allowing the company to postpone loan repayments while they try to find an investor
brazil made several adjustments in its economy in the past which affected the goodwill of its people
sarneys decision means brazilian importers of machinery and industrial equipment can buy dollar currency in the parallel market without having to wait for an official order from the banco do brasils foreign trade department cacex sarney also announced measures to boost exports in an effort to strengthen the countrys trade balance and alleviate the risk of a reduction of foreign loans for this sector of the economy
the entire 52 pct stake was purchased at a cost of 32 mln dlrs orion capital told the sec
although this will be the lowest level of maize deliveries since 1980 the sources said there is no danger of a food shortage in zimbabwe
marine corp mcoro 3rd qtr net
it said a 31 mln stg grant would be disbursed over three to four years under an agreement signed here yesterday between the indian finance ministry and the british overseas development administration
reichhold chemicals inc said its emulsion polymers division increased by nine cts per dry pound the prices of all styrene butadiene and polystyrene latexes effective may 1
i am not optimistic about an agreement soon hesse said
washington gas light co wgl hikes payout
president jose sarney rejected calls from foreign creditors and from some brazilian businessmen that the government talk to the international monetary fund
certain delegations wanted further discussion on the amount of non member cocoa the buffer stock will be permitted to buy differentials for different origin cocoas and limits on buffer stock purchases of nearby and forward material the delegates said
equity shares the 14 pct non convertible debentures and 125 to 14 pct convertible debentures issued by private companies are not exempted from either the wealth tax or from the tax on income earned from them
imperial chemical industries plc the largest chemical company in the united kingdom will expand its specialty chemicals and drug businesses this year and better its 1986 results said chairman elect denys henderson
this is going to take time they said the government would consider its options at a cabinet meeting on thursday but added that no final decisions were expected
the two ministers were speaking at a news conference after signing an agreement for joint oil exploration and exploitation of the jungle border zone between the two nations
us house panel sets international debt bill
oper shr profit 41 cts vs loss 113 dlrs oper net profit 3093000 vs loss 7000000 revs 359 mln vs 311 mln avg shrs 7508096 vs 6207723 note current year excludes gain of about 25 mln dlrs or 33 cts shr from benefit of tax loss carryforward and includes pretax gain of about 12 mln dlrs from sale of export quota rights
the state statistics bureau spokesman also said chinas 1987 cotton output was expected to rise 10 pct over 1986 to 390 mln tonnes
the failure of farm ministers this week to come to an agreement resulted in no bids at this weeks tender for export subsidies and traders said bids are unlikely as long as the uncertainty remains
uk money market given 224 mln stg assistance
pittston said it agreed to exchange 0523 common share for each of the about 8612000 wtc common shares outstanding
he said there were encouraging signs that some foreign investors were again taking a more realistic view of south africa
commerce bank set loan loss provisions of 6360 mln dlrs in fiscal 1986 ended october 31
unconverted notes will be repaid at par on february 28 1992
romero said he expected coconut product export prices to stay up for the rest of the year
the warrants are attached to a 150 mln swiss franc note issue
the company said the sale is subject to review by local authorities
capital costs to bring the mine into production are estimated at 76 mln dlrs
graan elevator mij gem said its balance in port of grains oilseeds and derivatives rose to 146000 tonnes on april 11 from 111000 a week earlier after arrivals of 404000 tonnes and discharges of 369000 tonnes last week
standard trustco said it expects earnings in 1987 to increase at least 15 to 20 pct from the 9140000 dlrs or 252 dlrs per share recorded in 1986
chicago based amoco had 1986 revenues of 2023 billion us dlrs
commonwealth bank issues dual currency bond
elder beerman eldr gets offer of 30 dlrs share
but a spokesman for manufacturers hanover trust co which chairs the 12 bank philippine advisory committee said a press conference with finance minister jaime ongpin will begin at the banks headquarters at 1430 est 1930 gmt
the bank intervened just after the dollar started rising on buying by securities houses at around 14705 yen and hoped to accelerate the dollars advance they said
the withholding tax was intended to plug one gap by raising 43 billion marks
durables excluding defense were reported originally as having fallen 99 pct in january
other countries including australia have benefitted from the higher world prices that have resulted from past us acreage and crop reduction programs the organizations said
ual parent of united airlines closed up 6 1 4 at 72 on volume of 39 mln shares
he appears convinced that officials from west germany france britain japan italy and canada talking quietly behind closed doors can reached reasoned decisions away from public posturing
investors receive interest only payments for the first 18 months and then interest and principal payments for the remaining five to seven months dub detailed
in the months leading up the february 22 agreement the dollar dropped some 10 yen
gencorp said it is seeking an injunction against the offer because it is violates federal securities laws and margin regulations
in the past he has preferred to be less definite about the governments exchange rate policy lest it give foreign exchange markets set limits to test
brazil last month suspended interest payments on its 68 billion us dlr foreign bank debt
communications corp of america 2nd qtr dec 31
austria issues 50 mln australian dlr bond
glickman also said that the export enhancement programs eep spending authority of 15 billion dlrs is quickly being used up and congress will have to decide whether to expand this program while making cuts in other areas
capel cure a unit of australia and new zealand banking group ltd conducted the survey during january among 70 institutions which are not clients of that firm
airsensors inc arsn 3rd qtr jan 31 loss
martin marietta ml 3rd qtr net
emery said it had tried unsuccessfully to open merger discussions with purolator before the company accepted the management led buyout offer
under its merger agreement hutton has the right to unilaterally terminate the merger agreement under certain circumstances including its receipt of less than 66 2 3 pct of purolator shares or the start of a higher competing tender offer such as emerys competing 40 dlr per share offer for purolator stock
the specialty retailing area continues to pay off for fw woolworth co once known only as a five and dime store chain which said its 1986 income rose 21 pct
businessland busl sells convertible debentures
from march 26 to april 8 subscription for 163 mln of the 164 mln bonds of 240 francs nominal each will be reserved for shareholders holding 1309 mln shares of 50 francs nominal representing the companys capital of 65485 mln francs on the basis of one bond for eight shares held
atico said in connection with the acquisition it will apply to become a registered bank holding company and convert its 99 npct owned atico savings bank subsidiary to a state chartered commercial bank
the 6 1 2 year old war could not be resolved on the battlefield he said
miyazawa told the japanese reporters the us unit fell because japanese investors sold dollars to hedge currency risks before the close of the 1986 87 fiscal year on march 31
bank economists in paris noted yesterdays meeting was only the first in a series and said the market would watch carefully in the next few weeks for any changes in positions
ida grants sri lanka 186 mln dlr credit
sumitomo corporation is launching 200 mln swiss francs of convertible notes due september 30 1992 with a coupon indication of 5 8 pct lead manager swiss bank corp said
pennzoil said its goals for 1987 included development of its point arguello oilfield off the california coast to maintain current production levels in its bluebell altamont field in utah and to drill for prospects in the gulf of mexicos mobile bay area
like non convertible money market preferred stock the new version allows investors to redeem their holdings every seven weeks
for the year the audited amounts showed earnings of 2505978 or 125 dlrs per share
in addition the company said it authorized the repurchase of up to an additional one mln shares of its common stock
some cotton specialists said their expectations for increased acreage might not be verified in tuesdays planting intentions report
the bank does this by lending to the discount houses at rates of interest higher than its prevailing money market dealing rates
although flowering was good following the start of the rains pod setting was not up to expectations possibly because the drought had caused a drop in the insect population which pollinates flowers the sources said
we can say that at least we are saving some money he said
japan to revise long term energy demand downwards
to2727days arre27st came a2727fter narly two years of joint27 investigation by the public prosecutors and police who 27had questioned about 3000 of2727 the firms former employees27 police sou27rces 2727said
japans major commercial banks plan to set up a joint company to which they will transfer assets acquired by lending to developing countries to build up a reserve against possible bad loans a senior official of a major bank told 
based on average yields ec beet sugar production could fall nearly 10 pct this year to 135 mln tonnes from 149 mln in 1986 87 while total western europe production could be 169 mln tonnes against 181 mln
the wholesale brokering service will begin on or around april 20
japanese crushers bought 3000 to 4000 tonnes of canadian rapeseed in export business overnight for last half may first half june shipment trade sources said
year ended december 31
this view is less favourable than the west german governments forecast of a growth rate of under two pct this year but is in line with forecasts by independent economic institutes of growth ranging from 15 to two pct
there doesnt seem to any lack of bonds in the longer end now that also may be the result that any percieved shortage has probably been taken up by provincial funding activities commented berry
a spokesman said alitalia was hoping for an increase in traffic with the us in 1987
but elders oneill said the roasters are not overstocked by any means analysts said picking a bottom to the market is difficult given the fact prices have fallen into uncharted territory below the long term support at 100 dlr per lb and several traders said the sidelines might be preferable for the short term
south korea has two projects in hand which will increase its ethylene production capacity by 500000 tonnes a year by the end of 1989 so the strong demand surge for imports is only a medium term trend they said
repeated bombings of a vital pipeline from the cano limon oilfield to the caribbean then led to a loss of 51000 barrels of crude
he said however that among countries to which france could increase its wheat exports were egypt and the maghreb countries morocco algeria and tunisia he said
an exxon spokeswoman confirmed that raymond had specifically mentioned refineries in france but said that no specific refinery had been named
also pending is a bill extend the life of the national commission on dairy policy
the rating agency noted however that merrills franchise retains significant value and gives the firm strong proprietary securities placement power
criticism is not a one way street he did not elaborate but bonn has often called on the us to reduce its federal budget deficit
shr profit seven cts vs loss 24 cts net profit 151000 vs loss 523000 12 mths shrs loss 170 dlrs vs loss 44 cts net loss 3670000 vs loss 947000 assets 997 mln vs 1026 mln deposits 911 mln vs 906 mln loans 443 mln vs 517 mln
novell novl sets payment date for stock split
up until the time of the announcment congressional and industry leaders were led to believe the white house had decided to expand the export enhancement program to include not only the soviets but also a much broader list of countries
coconut product exports fell to 163924 copra tonnes in january from 196610 tonnes in december and 167747 tonnes in january last year government figures show
the government forecasts annual inflation of about eight pct this year
it was not stated how the union would seize control the miners leaders also demanded an end to the system of single sex hostels for migrant workers to be replaced by housing schemes so that workers could live with their families
uk profitted from autumn intervention lawson
bank of england governor robin leigh pemberton said the paris pact agreed between six leading industrialised nations set no nominal exchange rate targets
carmel container systems ltd kml year oper net
the latter was proposed in a letter this week from cartagena to g 7 leaders who are due to attend a summit in venice this month
moodys investors service inc rates the debentures b 2
funds have been provided by onpraise to increase the satellite companys working capita
hartford steam boiler inspection and insurance co said its board declared a two for one stock split and raised the quarterly dividend to 25 cts postsplit from 20 cts both payable april 30 to holders of record april 10
the number of people actually receiving benefits under regular state programs totaled 2436000 in the week ended march 21 the latest period for which that figure was available
wichita wro to buy fountain oil fgas 
the bundesbank last intervened on january 27 when the dollar threatened to fall below 181 marks
this would buy time for japan and west germany to speed up their economic growth and help bring down the us trade deficit
periods ended january 31 shr profit 22 cts vs loss 26 cts net profit 439000 vs loss 522000 revs 5600000 vs 3859000 nine mths shr profit 46 cts vs loss three cts net profit 912000 vs loss 59000 revs 146 mln vs 183 mln note year ago revenues include 400000 dlrs in quarter and 2227000 dlrs in nine months from operations of subsidiary sold in april 1986
centel cnt completes acquisition
the balance of payments would show a five billion markka deficit in 1987 against a 42 billion deficit in 1986
the settlement date is march 23 1987
the markets initial reaction to the data was restrained by fears the employment news would undermine the dollar but when the dollar maintained a firm tone the bond market extended its gains
campeau acquired allied stores corp earlier this year the company said
in january taiwan cut import tariffs on some 1700 foreign products and allowed imports of us wine beer and cigarettes
the rating agency noted that commodity exchange inc comex filed with the commodity futures trading commission in october 1986 a proposal to list a futures contract based on the index
the dispute is being treated by the uk government as a test case of the openness of the japanese telecommunications market
pentland said proceeds from the offering will be used by reebok to retire bank debt incurred in its acquisition of avia group for about 180 mln dlrs
chinas citic buys hk hotel from cheung kong
a midlevel grade of unleaded gasoline with an octane level of 89 means an investment has to be made dunham said
for 1986 the trust reported net income of 13 mln dlrs or 38 cts a share on a post split basis
pancanadian petroleum ltd said it agreed to sell its working interest in its north sea properties and its british unit canadian pacific oil and gas of canada ltd to whitehall petroleum ltd a private british company
vontobel also noted that recent years had seen companies worried about takeovers increasingly issuing registered shares and participation certificates rather than bearer shares
this takes the total liquidity injected into the system by the bank today to 1026 billion stg compared with a shortage it estimated at around one billion stg
pacificorp ppw buys buys computer firm
circle express terminates planned acquisition of overland express
its draught was 36 feet
bank of england proposes limits on underwriters
ia so minn direct hogs estimated rcpts 95000 vs actual week ago 93000 and actual year ago 93000
the unions havent forgotten that and they will put this squarely onto the account in the negotiations he said
a spokesman for gardner today said the former director had no contact with emery nor did he have any other buyers lined up for purolator
us bank discount borrowings average 228 mln dlrs a day in march 18 week fed says
taipei has said it is losing markets to south korea and hong kong which were given more generous terms
tender for allegheny intl ag underway
feds heller says dollars level is appropriate
he said japan must eliminate import quotas on certain minor food products or face possible us reprisals
local interest in the sydney treasury bond contract may also flare if the sydney exchange establishes a three way link with chicago and london traders in sydney said
exceptions to these conditions include credits to concerns in which the bank itself has a stake and to branches of foreign banks
the notes will be convertible into six mln common shares at 1550 dlrs a share by september 30
usair group inc said it has amended its 69 dlr per share tender offer for shares of piedmont aviation inc to reduce the maximum number it will accept to 9309394
the unadjusted deficit on invisibles was 234 mln dlrs against 158 mln dlrs revised from 168 mln dlrs in march and 231 mln dlrs in april 1986
it opened slightly firmer at 43350 43400 and moved up steadily during the morning supported by commission house and trade buying dealers said
it will buy back the debentures at par plus accrued interest of 1823 dlrs for each 1000 dlr debenture
shr loss 10 cts vs loss 38 cts net loss 393241 vs loss 1384334 revs 436 mln vs 403 mln
philip crosby associates inc said it expects its audited results for 1986s fourth quarter to be lower than its previously estimated 10 to 15 cts per share
the banker said officials have stressed repeatedly over the past six weeks that chinas foreign borrowing will not be affected by a drive against bourgeois liberalism a phrase meaning western political ideas following the dismissal of communist party chief hu yaobang on january 16
the argentine grain board issued the following figures covering shipments of major export grains in the week to april 1 in tonnes with comparisons for the previous week and the same week in 1986
group may support cardis corp cds buyout
shr 52 cts vs 51 cts net 165 mln vs 162 mln revs 8702 mln vs 8007 mln year shr 148 dlrs vs 129 dlrs net 473 mln vs 410 mln revs 353 billion vs 310 billion avg shrs 31867658 vs 31831050
sharp is a time sharing network and database company specialising in finance economics energy and aviation
williams cos said a fourth quarter charge of 250 mln dlrs from discontinued operations and writedowns contributed to a 1986 net loss of 240 mln dlrs or 697 dlrs a share against earnings of 316 mln dlrs or 92 cts in 1985
malaysia to research tin wary on veg oils tax
the imf limit is obviously going to be abandoned predicted one analyst noting that south africa has moved steadily away from austerity measures recommended by the imf over the past two years
he said hiram walker gooderhams profit improvement in the current year will come from a previously announced reorganization put into effect march 1 1987 and a close partnership with allied lyons existing allied vintners division
but market analysts see the recent upward pressure on sterling and consequent need for official sales to damp down its rise more in the light of local factors
goldberg for 26375 dlrs a share
chrysler corp said it agreed in principle with french state owned renault to acquire american motors corp in which renault is controlling shareholder under a deal in which amc stockholders other than renault would receive chrysler common stock with a market value of four dlrs for each amc common share they hold
president reagan said he was pleased with the actions of some banks to reduce their prime lending rates today and said he sees room for a further decline in interest rates
solmecs develops technology relating to energy conversion
these would lead to higher productivity schlueter said
may ajusted sterling bank lending up 27 billion stg after 15 billion in april official
this is equivalent to 780p per avana ordinary
no force majeure on lead from capper pass
the issue was undersubscribed at a tender on february 18 but the government broker has supplied amounts of the stock on a number of occasions since then
overall the weakness of the hong kong dollar against cathays major trading currencies helped push passenger yields in the first half up 72 pct said james capel
dutch adjusted unemployment unchanged in february
sears roebuck s march retail sales up
hoogovens concludes takeover of philips cirex unit
mikulics proposed economic program which also includes higher personal taxes as well as wage and price restraint is intended to serve as a basis for the debt talks to demonstrate yugoslavias ability to eventually repay the credits
our plans include initiatives on the debt front as well as greater emphasis on debt equity swaps and the promotion of private investment in third world countries through our affiliate the international finance corporation conable said
bp oil ltd the uk marketing and refining arm of british petroleum co plc bpl raised its pretax operating profit on a replacement cost basis to 182 mln stg in calendar 1986 compared with 66 mln stg in 1985
1987 net both periods includes pretax charge 692000 dlrs from amortization of goodwill
investor boosts first western fwes stake
we are going ahead because the whole issue has been underwritten we had it underwritten because there is always a risk of this sort of thing happening lawson said in a bbc radio interview
it made the request by telephone
sumitomo mining smitt raises nickel output
ducommun inc said it sold its airdrome parts co division to a group of investors headed by airdromes management for a cash price of 12 mln dlrs
king world productions inc kwp 2nd qtr feb 28
s and p also upgraded to a and a 1 from bbb plus and a 2 respectively the certificates of deposit of american securitys lead bank american security bank na the rating agency said the actions reflected the firms merger with what it termed a stronger maryland national corp as well as americans improving performance
dwi corp dwico 3rd qtr march 31 net
operating profit rose to just under 120 mln marks in 1986 from around 100 mln in 1985
royal dutch shell group of cos 4th qtr net
zico said the suit is totally without merit and vigorously intends to contest it
the phlx now offered options in eight currencies including a new australian dollar option and traded an average 42000 contracts daily with underlying open interest of more than 30 billion us dlrs
the agent said ns dns laydays include july 1 10 for 7500 9500 tonnes aug 1 10 for 8000 10000 tonnes and sept 15 25 for 12500 14500 tonnes
rayrock said it expects to complete the note sale on april nine
initially the january position was reported as flat
since debtor nations problems were normally treated on a case by case basis perhaps the same principle should apply to creditors central bank president francisco gros said
it said closing is expected within 45 days after receipt of regulatory approvals
dow jones and co inc dj 1st qtr net
analysts said gencorp chairman a
a western banker said chinas portfolio contains too much short term debt and too much of it is denominated in yen as a result of aggressive lending by japanese banks and attractive low interest rates in the japanese market
allegheny international inc said it sold three overseas subsidiaries to reil corp ltd a north sydney australia investment group
an estimated 12 mln metro users in madrid were stranded today as striking railway workers halted the underground transport system industry sources said
earlier this month deputy prime minister janos milosavljevic said yugoslavia needed new credits
channon also called for greater ec us cooperation to force japan to open its markets to foreign goods
qtly div 8 1 2 cts vs 8 1 2 cts prior pay may one record april 20
taiwan sets 1987 canadian wheat import target
i think we are beginning to see more calm in those markets seger told reporters after a speech to the us league of savings institutions
still he has succeeded in holding up a merger of two airlines both of which analysts said would fit well with twa
traders say it is difficult to foresee the riyal market moving completely out of the region partly because of local demand and partly because of what is seen as the saudi arabian monetary agencys sama desire to moderate internationalisation of the riyal and protect it from undue speculation
crd made a net profit before stock depreciation and currency factors of 195 billion francs last year after a 116 billion loss in 1985
peru short term trade lines rise to 430 mln dlrs
in many ways not least in terms of rare international cooperation the september 1985 new york plaza pact between the us japan west germany britain and france to cut down the value of the dollar was a historic one
yugoslavia has reached an agreement with western creditors on refinancing a portion of its 197 billion dollar hard currency debt
columbia gas said the impact of the ferc decision may be offset by a one time accounting change rleated to future tax liabilities under the new federal tax laws
us durum wheat bonus bid to algeria accepted
the change resulted from a denial by the pennsylvania public utility commission for a rate increase and an order by the commission to reduce rates by 186 mln dlrs annually
shr 15 cts vs 55 cts net 557000 vs 2020000 revs 8872000 vs 13908000 year shr 60 cts vs 252 dlrs net 2198000 vs 9313000 revs 369 mln vs 557 mln
guatemala will host a meeting of other milds coffee producers probably in may to discuss basic export quotas the guatemalan delegate to the international coffee organization ico said
the banks can on lend these to generate profit but generally banks are awash with liquidity since they are unwilling to risk incurring fresh non performing loans
sun sun raises heating oil barge price
i was very reassured by the determination of mr
the facility will incorporate an underwriting fee of 010 pct in addition to a fee of 005 to 010 pct depending on the participation amount
with futures down processors are finding they must bid premiums for cash soybeans further reducing crush margins
weve had counsel working for some time in every region where viacom has cable televison systems redstone told in a telephone interview
between them these five countries had more than enough votes in the weighted voting system used in ec ministers meetings to block a decision jopling said
last week beghin say president jean marc vernes said a possible settlement of a row with the ec would lead producers to withdraw their offer which was made as a protest against ec export licensing policies
this is because the markets know or perhaps because they dont know what the central banks can do poehl says of intervention in currency markets which can quickly turn rates round making a speculators position worthless
west german finance minister gerhard stoltenberg said the louvre accord was vital to west germany
another topic for debate is expected to be the continued slide of the lebanese pound against the dollar and the undermining of the effective capital base of lebanese banks
general acquisition co said it was disappointed by gencorps response to its tender offer and asked how the company might give better value to shareholders
carolin mines ltd said recent assays of tailings at its hope british columbia mine indicated that ounces of gold per ton ranged from 064 to 050
the company today reported earnings for the year ended january 31 of 6191000 dlrs on sales of 3164 mln dlrs up from prior year earnings of 4257000 dlrs on sales of 2867 mln dlrs
the spokesman had no further comment
porex porxo to merge with medco mccso 
bryson oil and gas plc said it paid a cash consideration of around 54 mln dlrs for about 86 pct of cenergy corp a us oil and gas exploration and production company
cattle slaughter is guesstimated at about 128000 to 130000 head versus 129000 week ago and 119000 a year ago
swires trading and manufacturing operations are expected to earn 300 mln dlrs up 22 pct from 1985 but its shipping and offshore services are likely to post a small loss of about 10 mln dlrs because of depressed market conditions
the waterside workers federation which struck for most of last week and held more than one mln tonnes of shipping in ports meets on monday and tuesday in conciliation with the waterfront employers association
we need to look at ways to cut costs and not hurt the farmer
baldrige said he was making his prediction without having seen the february trade figures but he said that the volume of imports has dropped beginning with the fourth quarter of 1986 and will continue to drop in this quarter
if there is no frost damage to its coffee crop over the next two months and most other producers favour our proposal we might just get an agreement van horick added
however the remittances have begun to fall after the drop in oil prices in recent years leading to the spectre of a balance of payments crisis for pakistan
states cash deposits at the central bank fell to 800 mln and they also drew down 12 billion marks in book credit 900 mln marks more than in the prior week
shr 42 cts vs 35 cts net 570000 vs 476000 sales 1224 mln vs 1231 mln notel prior year net includes pretax charge 453000 dlrs for reopening of eight stores
for the year earnings rose to 769 mln dlrs or 326 dlrs from 731 mln or 318 dlrs
the dollar traded around 14520 30 yen when trading began in the afternoon here and weakened only slightly the dealers said
military experts say the united states faces a dilemma in the gulf following us destruction of an iranian oil platform in retaliation for an attack on a us flagged tanker
in its statement the financial services giant said it is continuing to study various plans for shearson in addition to the investment by nippon
the ecs so called third country meat directive will require foreign meat processing plants to comply fully with ec inspection standards beginning april 30
the accord called for stability in foreign exchange rates
the rights become exercisable if any person or group acquires 15 pct or more of the companys common stock other than through an all cash tender offer for all outstanding shares at 65 dlrs per share
recent government moves to curb capital inflow have temporarily helped to slow the rise of taiwans foreign exchange reserves and to stabilise the local dollar against the us currency officials and bankers said
texas commerce chairman ben love in an interview with did not elaborate on how much the bank expected earnings to increase
columbia gas system inc said a federal energy regulatory commission decision today on natural gas cost recovery could reduce its 1987 earnings by about 125 dlrs a share
the offering is being managed by shearson lehman bros inc goldman sachs and co ef hutton and co inc and dean witter reynolds inc
between 1984 and 1986 reorganizations added almost 9000 new persons to us agriculture department payment rolls crowley told the house agriculture subcommittee on wheat soybeans and feedgrains
he said the inflow of foreign money into sterling assets earlier this year attracted by growth prospects and hopes that the ruling conservatives would win last weeks election now looks likely to prevent a base rate cut as the authorities try to prevent these funds swelling the domestic money system
dutch current account surplus falls in 1986
uk money market given 550 mln stg late help
a local banker who declined to be named said its basically ridiculous
nsw state premier barrie unsworth has said workers compensation has risen steeply in recent years and the proposed cuts would save hundreds of mlns of dollars a year
moodys will also assess the effects that growth and a broader diversification of pharmaceutical cash flow will have on operating performance
safeguard said it bought the business unit from comsat telesystems inc a subsidiary of communications satellite corp cq
shr 616 cts vs 481 final div 150 cts vs 140 making 230 vs 195 pre tax 7054 mln rand vs 4852 mln net 5917 mln vs 4580 mln tax 792 mln vs 822 mln attrib to outside shareholders 1237 mln vs 523 mln
this will provide a stable long term supply to the refinery at competitive costs thereby assuring the economic viability of the plant a statement issued by union pacific said
once the negotiators reach agreement the bill will be sent to president reagan for his signature
this need for additional reassurance was made all the more acute by the feds decision yesterday to drain reserves from the banking system by arranging overnight matched sale purchase agreements for the first time since april of last year economists added
ici ici seeks gains in specialty businesses
shr loss 137 dlrs vs 159 dlrs net loss 386 mln vs 425 mln revs 314 mln vs 594 mln note 1986 net includes pretax writedown of 23 mln on oil and gas properties and a 303 mln non cash provision for impairment of geothermal property
wright told reporters the plan by sen
this is reflected in their interim results which showed that profit margin has increased said frederick tsang of mansion house securities fe ltd
extension of the contracts on the blocks has involved detailed negotiations but so far no extension has been granted
canadian money supply rises in week
the shortfall for the full year rose to 881 billion dlrs from 1985s 584 mln dlr deficit the federal agency said
recent slackness on dutch capital markets has led some bankers to question the central banks policy of pegging the guilder firmly to the west german mark and to ask for more flexiblility in exchange rate policy
stock exchange traders said the rumour helped gecs share price to rise 5p to a final 206p from yesterdays closing price of 201p
grade 92 octane will be 906 cents against 876 previously
federal industries launches eurobond issue
qtly dividend 65 cts vs 65 cts pay april 15 record march 31
oil companies such as ashland oil inc ash the kentucky based oil refiner and marketer are also shopping for money making petrochemical businesses to buy
the federal government said calmos systems inc will be given 3075000 canadian dlrs to join the european consortium eureka in a research project involving integrated circuit boards
others are more blunt
shr 140 dlrs vs 138 dlrs net 1928800 vs 1485600 sales 352 mln vs 335 mln avg shrs 1350800 vs one mln
he said several ems member countries believed the ems would work better if central banks held each others currencies an issue of particular importance regarding west germany since the bundesbank holds only dollars in its foreign exchange reserves
hutton lbo a wholly owned subsidiary of ef hutton group inc will be majority owner of the company
pepsico pep upgraded by kidder peabody
tenera lp tlpzv sets initial quarterly
eximbank loans will carry the minimum interest rate allowed by the oecd rate schedule for the market and the term he said
goenka said that government bonds are making it increasingly difficult for private companies to launch new equity or debenture issues
nvhomes nvh sets split payment date
results of an economic evaluation of the find in which placer has an option with australian consolidated minerals ltd acm to earn a 50 pct interest were encouraging enough to warrant a full study placer said in a statement
annual inflation measured by the consumer price index is forecast to fall to nine pct by next march from 182 pct in calendar 1986 it said
resource exploration rexi in drilling pact
illinois sweet and indiana sweet are both being raised 50 cts a barrel to 1675 dlrs bbl and the southern michigan grade is being raised 25 cts bbl also to 1675 dlrs a bbl
i say we have waited long enough nugent said
the esso proposal to purchase all the delhi interest will be more beneficial to our shareholders than proceeding with the float csr chief executive bryan kelman said in the statement
we estimate that should the trend in farm reorganizations continue reorganizations since 1984 could be adding almost 900 mln dlrs annually to program costs by 1989 gao senior associate director brian crowley said
the export sales will be subsidized with commodities from the inventory of the commodity credit corporation ccc the department said
the system has come under severe strain as funds have flowed out of the slumping dollar and into the dominant ems currency the west german mark sending it soaring against weaker currencies in the system
with the legal framework eased they became the de facto legal framework said bache securities japan analyst darrell whitten
one port a h range dubai 6800 mt bagged sugar 750 750 10 15 4 a c unnamed charterer
meanwhile economists warned that the federal funds rate will be subject to volatility in the weeks ahead due to the approach of quarter end and the mid april tax date
they debentures will be offered at 990 pct of the face amount to yield 859 pct to maturity
affandi told reporters stocks fe27l to as low as 159000 tonnes at the beginning of 1987
kjeldsen said copa had urged the ministers to pursue international negotiations on farm trade with the aim of bridging the gap between ec and world prices
they said stock levels could drop 13 to four mln barrels
he said he expected profits would recover last years lost ground and reach 1985 results
four of japans six major heavy machinery and shipbuilding companies reported current deficits in the first half of the year to march 31 and five of them are expected to report current deficits for the whole of 1986 7 they said
the us is the biggest buyer of ugandan coffee most of which is used to produce instant coffee
shr 159 dlrs vs 54 cts net 433 mln vs 139 mln revs 5667 mln vs 4878 mln avg shrs 272 mln vs 259 mln note 1986 figures restated for adoption of financial accounting standards board statement 87 employers accounting for pensions net 1986 and 1987 includes 900000 dlrs of investment tax credits in 1987 and 31 mln dlrs in 1986
us credit markets end under extreme pressure
the banking committees bill directs the administration to to start negotiations to reach a competitive exchange rate for the us dollar runs the risk of build up potentially destabilizing market expectations volcker said
the bank austrias third largest raised its 1986 dividend to 12 pct of its 15 billion schilling nominal share capital from 10 pct on capital of 135 billion in 1985
southern natural gas co a unit of sonat inc said it filed with the securities and exchange commission a registration statement covering a 100 mln dlr issue of debentures due 1999
s and p cited expectations of continued profit pressure for this maker of minicomputer products
baker international corp said it has signed a definitive agreement to sell the assets and business of the electric submersible oilwell pump product line in the continental us of its baker oil tools inc subsidiary to trico industries inc tro for an undisclosed amount of cash and other consideration
a majority of the note issues were for japanese borrowers
the price of hongkong and shanghai hotels ltd shlhhk s stock soared on speculation of a takeover battle between major shareholders the kadoorie family and the evergo industrial enterprise ltd evghhk group stock brokers said
imports were about 249 billion dlrs in 1986 against 187 billion in 1985 according to preliminary estimates
stora close to completing papyrus takeover
the report said inflation should slow and domestic demand pick up in the second half of this year
a commission headed by venezuelan investment fund minister hector hurtado and including representatives from the interior and defence ministries and the state oil company petroleos de venezuela will travel to ecuador tuesday to evaluate and co ordinate an emergency relief program he said
augar noted that a government imposed formula linking charges to inflation meant that the companys scope for raising prices was limited as long as inflation remains low
the two rivals also signed confidentiality agreements which give them access to viacoms financial records provided they keep the information secret
malaysia said it cut the gazetted price of rubber to 202 7 8 cents per kg from 213 1 2 cents in march effective immediately
shr 72 cts vs 58 cts net 208 mln vs 149 mln revs 3287 mln vs 2398 mln avg shrs 289 mln vs 257 mln note prior year shr restated for june 1986 two for one stock split
china trying to increase cotton output paper says
1986 nine mths net includes a charge of 289 mln dlrs or 19 cts a share for early retirement program and withdrawal of contac cold remedy from the market due to tampering
spot propane was unchanged while butane rose about 25 dlrs from last week traders said
qtly div 64 cts vs 64 cts prior pay may 15 record april 16
the losses in 1986 and those carried over from 1985 made it necessary to reduce capital by 50 pct he said
michigan general corp said it began an exchange offer for its 110 mln dlrs outstanding principal amount of 10 3 4 pct senior subordinated debentures due december 1 1998
shr primary 73 cts vs 60 cts shr diluted 70 cts vs 58 cts net 38528000 vs 31680000 avg shares 52087634 vs 51294652 note qtr net interest income is 1307 mln dlrs vs 1148 mln dlrs
shr 35 cts vs 13 cts net 531840 vs 188362 revs not given year shr 83 cts vs 41 cts net 1249000 vs 620000 revs 10800000 vs 5600000
the chairman of the conference on a new international natural rubber agreement inra manaspas xuto of thailand said it was imperative to try to settle the main outstanding issues this week
banque national de paris bnppa senior dealer peter nicolls cautioned that in the long term the currency and interest rates were too high for import substitution and export industries
these developments were increasing the bundesbanks scope for a rate cut in the medium term economists said
ec ministers consider cutbacks in steel support
the initial upward market move this morning reflected a strong speculative reaction to rumours of a us attack which was thought at one stage to have been against iranian missile launchers on the faw peninsula close to kuwait analysts said
the bank also said time deposit rates will be lowered by 037 point effective march 16 in line with the half point cut in the official discount rate on february 23
shr 27 cts vs 23 cts net 1713000 vs 1447000 revs 469 mln vs 393 mln year shr 97 cts vs 78 cts net 6154000 vs 4855000 revs 1679 ln vs 1304 mln
analyst alan gottesman of lf rothschild unterberg towbin inc said the bass group has been increasing its stake in the belief the company would be worth more with a change in its strategy
producer split heats up coffee quota talks
shr 89 cts vs 68 cts net 1160 mln vs 881 mln revs 117 billion vs 9240 mln 12 mths shr 117 dlrs vs 93 cts net 1522 mln vs 1198 mln revs 244 billion vs 197 billion note net 1986 were restated to reflect three for two stock split on june 27 1986
the recent remark by us treasury secretary james baker that the paris accord did not set any target ranges for major currencies has cast a shadow on the agreement said koji kidokoro general manager of mitsui bank ltds treasury division
some is now being used to grow industrial crops instead of grain
but for flexibility purposes merrill lynch said it is considering redistributing borg warners assets to a number of subsdiaries of an entity it created to carry out the merger
merrimac industries inc mmac 4th qtr net
the singapore high court has adjourned summary judgement for the second time on a national bank of brunei bhd case for loan repayments from khoo teck puat and 15 associated companies court sources said
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
emery said the offer is also subject to completion of the previously announced sale of purolators canadian operations
but some industry officials predicted any government measures were likely to have limited effect as long as the world semiconductor market remained weak
each has a circulation of about 160000 copies
the report says that imports of wheat soybeans soybean meal and cotton are not likely to decline as a result of last septembers 31 pct devaluation of the rupiah because of a rise in domestic demand
in the united states revenue in guilders from health and life insurance was lower
the strike has cut exports and imports and made an estimated 160 ships idle
after record world durum wheat production of 2188 mln tonnes last season the iwc said there are already signs of another large crop this coming season with higher output expected in the ec canada the us and north africa
bangor hydro electric bang gets approval
period ended january 31
horizon bancorp hzb 3rd qtr net
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 reality of the problem and the injury is caused worldwide he said
quantum diagnostics ltd said it has been granted a patent for a new imaging technology it has developed that uses electrmagnetic radiation
it will also help develop the mine complex it added
hog and cattle slaughter guesstimates
but it is likely to miss contracts to power the proposed airbus industrie a340 aircraft
ongc produced 2785 mln tonnes of crude in 1986 87 ending march up from 2751 the previous year
payment of the stock dividend increases cistrons outstanding common stock to 21390190 shares from 16185354 shares
plans for the creation of such an institution foreseen by the emss founding fathers have been thwarted by the reluctance of some countries notably west germany to gove up their sovereignty in the monetary field
but doubts remain over whether the ministry of international trade and industry miti which is pressuring the firms can successfully battle market forces and whether the us industry is geared up to take advantage of any breathing space they said
news of the meeting which took place in frankfurt in great secrecy came after the dollar fell sharply on criticism by baker of west german monetary policy which had provoked fears that the louvre pact on currency stability was in jeopardy
pldt is the largest of 58 telephone companies in the philippines
natl loan release call avge rate x level price price oats 124 099 v 165 barley na 156 iv 255 255 v 265 sorghum 234 325 y iv 536 536 v 554 reserves i ii and iii have matured
most analysts said the budget was very sound on the fiscal side but offered nothing new on monetary policy
nippon life staff will also acquire expertise in business sectors which have not yet opened up in japan they added
reynolds metals rlm registers debentures
bii enterprises biito nine mths aug 31 net
output of crude for the previous 1984 85 harvest was 82 mln tonnes
the esso proposal to purchase all the delhi interest will be more beneficial to our shareholders than proceeding with the float csr chief executive bryan kelman said in the statement
over the 1983 85 period turkey each year has exported between 240000 and 350000 tonnes of whites to iran and between 62000 and 230000 tonnes to iraq
they wind up with 7 8 over eurodollar rates and who wants 7 8 really its nothing
shr 43 cts vs 32 cts net 1991000 vs 1485000 sales 117 mln vs 9479000
pengo industries inc said it has agreed to sell its wireline products manufacturing division in fort worth texas wireline services division operations in several locations and pengo international inc subsidiary to john wood group plc for undisclosed terms
bangladesh money supply rises in december
the dividends are payable on april 20 to shareholders of record april six
he said that with the move called a standstill arrangement brazil was only trying to avoid difficulties to pay its 109 billion dlrs debt in the future
the only real production restraint in opec is saudi arabia said sanford margoshes analyst at shearson lehman brothers
that rule is go into effect on january 1 1988
discus corp disc 4th qtr loss
the government has set public sector wage rises at aboout 17 per cent this year with a three per cent ceiling for rises justified by increased productivity
mellon bank expects to report a first quarter loss of 55 mln to 65 mln dlrs
the key all ordinaries index rose to a record 17583 today nearly 20 pct above its level at the end of 1986 while the gold index has nearly doubled to a record 30810 in the same period
fiduciary trust co in five for one stock split
the tax would create such a spread that japanese would be unable to compete in the international market he added
anz bank to cut australian prime rate to 18 pct
there were six grain ships loading and six ships were waiting to load at portland according to the portland merchants exchange
because of the difficulty of sustaining zero expenditure growth and of likely growing impatience for tax reductions we feel that your position would be stronger if you could decide on rather sharp expenditure reductions in 1988 the report adds
but the at the same time home remittances by pakistanis abroad dropped to 23 billion dlrs from the 1985 86 level of 2595 billion
continental health affiliates inc said that it has acquired marketech inc an 80 pct partner in diatronics nutrition services continental said diantronics nutrition services is a joint venture with physicians providing patient ready home infusion therapy products and services to outpatients of five northern new jersery hospitals representing over 1900 inpatient beds
the flats were among the properties it bought last year from hongkong land co ltd hkldhk for 14 billion dlrs
the spokesman told by telephone from brasilia that seixas had offered to resign last week but the government had not yet responded
adb approves 75 mln dlr loans for two projects
helen of troy corp said it filed with the securities and exchange commission a registration statement covering a 20 mln dlr issue of covertible subordinated debentures due 2007
sales for all of 1987 are expected to rise about 55 pct to six pct up a bit from 1986s rise
finance minister kiichi miyazawa said the time has come for major industrialised nations to take action on exchange rates in line with their agreement last month in paris
rexnord inc rex 1st qtr jan 31 loss
foreign exchange reserves totalled 703 billion crowns compared with 684 billion in april and 880 billion a year ago
millard nor em warburg a money management and venture capital firm would disclose the value of the transaction
further details would be announced march 25 on the bonds that will be dated and delivered april 16 1987
application has been made to list the debentures on the new york stock exchange
entre computer etreo closing overseas units
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
in announcing the rights plan datacard said it is not designed to deter takeovers that would be consistent with the objective of maximizing stockholders value to all of datacards stockholders the rights will not become exercisable until 10 days after an announcement that a person or group has acquired beneficial ownership of 44 pct or more of datacards common stock
btr nylex raises offer for borg warner australia
in the centre west region of poitou charentes plantings were estimated four to seven pct up on last years harvested 244000 ha
1986 qtr and nine mths includes loss 4850000 dlrs or 23 cts per share and 146 mln dlrs or 70 cts per share respectively from payment of preferred dividends
the leucadia subsidiaries had held an 110 pct stake in minstar but cut to 18 pct or 313200 shares last july
he said that while the figures were not good they showed the problem did not lie with the banking system as a whole but with regional differences in economic performance
fed funds were trading at 6 3 4 pct when the fed began its action
theres a lot of slack a us government official in tokyo said
ten grain ships were loading and 14 were waiting to load at new orleans elevators trade sources said
some thought a rate cut unlikely given foreign exchange turbulence and the us prime rate rise to 7 3 4 pct while others still counted on a 1 4 point cut by the bank of france
the reagan administration has objected to brazil protecting its computer industry from imports
oper shr loss 124 dlrs vs profit 19 cts oper net loss 1965000 vs profit 646000 revs 105 mln vs 116 mln avg shrs 1741000 vs 3581000 12 mths oper shr loss 155 dlrs vs profit 42 cts oper net loss vs profit 2051000 vs 1492000 revs 429 mln vs 455 mln avg shrs 1816000 vs 3581000 note prior qtr excludes loss 229000 or seven cts per share for discontinued operations
on the other hand ortner said that he thought that the yen is still a little bit undervalued and could go up another 10 or 15 pct in addition ortner who said he was speaking personally said he thought that the dollar against most european currencies was fairly priced ortner said his analysis of the various exchange rate values was based on such economic particulars as wage rate differentiations
yeutter said the proposed tax is a flagrant violation of the spirit of gatt because it would imperil the zero binding duty on us exports of soybeans to europe
csx csx unit sets improved shipping service
cytrx cytr unit buys swedish company
us authorities intervened in the foreign exchange market to support the dollar on one occasion during the period between the start of november 1986 and the end of january the federal reserve bank of new york said in a report
domestically funaro said economies had led to a reduction in the public sector deficit to 27 pct of gross domestic product in 1986 the lowest for many years and that this should fall to 15 pct this year
they are public documents and there is nothing secret about it he told 
cyclops cited its agreement to be acquired by britains dixons group plc for 9025 dlrs a share under a tender offer that expires midnight march 17
canadas major banks will likely face stiff pressure to declare their brazilian loans non performing if as expected major us banks take similar action after the end of their first quarter tomorrow analysts said
it was approved by the house international finance subcommittee and sent to the full house banking committee which will consider the measure next week
court enjoins zico investments tender for bancroft convertible fund
harper and row publishers inc said its special committee of independent directors has received expressions of interest from a considerable number of domestic and foreign firms with respect to restructuring or acquisition transactions with the company
pay date is april 15
the company said it is reviewing other offers to buy the units and if it decides to accept another offer it will pay hc an agreed upon amount and reimburse hc for its expenses
he attributed the fall to the rising taiwan dollar
the firmer tone to refining margins in europe and the us relected higher prices for petroleum products particularly gasoline and support from crude oil prices
japan actively bought us corn last week trade
that is 53 basis points more than the yield of comparable treasury securities
payment date is april 15
standard oil srd sees boost in 1987 cash flow
bp managing director says company does not plan to hike 70 dlrs standard offer
payment is april 10
singapore banks say diversification key to growth
the mines contract expires july 1 and the smelters on july 21
all these rates are the same as for todays earlier help
the report urged australia to broaden its export base by developing viable and competitive service and manufacturing industries and not count on a recovery of commodity markets to correct its external imbalances
beasley construction co a wholly owned unit
dutch retailer ahold sees unchanged 1987 profit
avaq said gates corp and gates learjet approved its offer feb 26
shr 11 cts vs 12 cts net 301820 vs 248419 revs 121 mln vs 102 mln avg shrs 2855966 vs 2033881
general electric credit corp is issuing a 75 mln australian dlr eurobond due april 16 1990 paying 15 pct and priced at 101 3 8 pct lead manager hambros bank ltd said
debt to capital will be slightly more than 60 pct pro forma but since chicago pacifics plant is modern capital spending is considered largely discretionary it said
lyng defends us export subsidy program
reagan said the accord is designed to stabilize rubber prices without disturbing long term market trends and to foster expanded natural rubber supplies at reasonable prices
kerin said the broad ranging reference would allow a full examination of all aspects of the wheat marketing system
dillon read and co inc co managed the deal
upon clearance of the revised proxy statement by the commission and its distribution to staff builders shareholders that companys management will continue to solicit proxies for approval of the merger
the government is trucking water into parched farms in parts of northeastern eastern and southern provinces but not enough to satisfy farmers according to press reports
the company said it has also entered into a 155 mln dlr bank credit agreement that will allow it to complete the prepayment of all its obligations to members of its present bank syndicate
french finance minister edouard balladur issued a firm call for the continued faithful application of the louvre accords on currency stability by all major industrial countries
kroger co said it agreed to buy nine retail food stores from the dallas division of safeway stores inc which announced it was closing the 141 store division as part of a restructuring
he did not elaborate
the sources said they believe the committed four year revolving credit the largest of its kind in the euromarkets carries a facility fee of 1 8 pct and that drawings will be at 1 8 pct over the london interbank offered rate libor morgan guaranty trust co of new york which is arranging the financing in conjunction with its london operation was not available to commment on the terms
west germanys money supply growth slowed in february after januarys sharp rise but the trend is still definitely upward the bundesbank said in a statement
ameribanc abnk sells convertible capital notes
the price will be fixed on or before march 24 at a premium of between 25 and 28 pct over the share price
the fob market for wheat started easier but here again selling pressure lifted around midday
us shoe inc 4th qtr shr 31 cts vs 56 cts
shr 52 cts vs 42 cts net 411 mln vs 332 mln sales 127 billion vs 9603 mln avg shrs 79800000 vs 78200000
before seasonal adjustment consumer credit outstanding totaled 57605 billion dlrs at the end of february compared with 53041 billion dlrs at the end of february 1986
analysts said there is concern about challenges to gencorps broadcast licenses for two television and 12 radio stations
gelco corp gel 2nd qtr jan 31 net
1985 year net includes charge 6900000 dlrs related to foodservice unit and gain 2400000 dlrs from sale of marketable securities
this purchase represents 30 pct of the outstanding shares
commercial credit ccc sells 10 year notes
after months of wrangling over the worth of shell oil royal dutch shell agreed to another two dlrs increase
decision expected on uk royal ordnance sale
he said kotc made profits of more than two mln dinars seven mln dlrs in the fiscal year ending last june but predicted lower profits this year due to higher costs for chartering and operating vessels
but imports do not seem to be picking up much because the japanese economy remains sluggish he said
domestic crude oil production was estimated at 835 mln bpd down 78 pct from 906 mln a year ago and gross daily crude imports excluding those for the spr averaged 344 mln bpd up 163 pct from 295 mln the eia said
critics say the bank keeps the reins unnecessarily short
the bills replace maturing paper worth 3196 billion lire and subscriptions to the offer close march 10
ohio power co a unit of american electric power co said it will redeem 344 mln dlrs of its first mortgage bonds on june one
allis chalmers corp said it asked lenders and other groups to approve a restructuring plan that would cause a dilution of the companys existing common stock
the federal reserve entered the government securities market to supply temporary reserves indirectly via two billion dlrs of customer repurchase agreements a spokesman for the new york fed said
the sale is an important part of a restructuring announced in november cpc said
shr 30 cts vs 51 cts net 966000 vs 1470000 revs 398 mln vs 413 mln
charan sees at least 50 pct rise in 1987 profit
earlier data will not be revised as there are no equivalent figures including the new components a spokesman said
year to end march shr 209p a 223 pct rise div 51p making 845p vs vs 75p turnover 942 billion a 124 pct increase operating profit 235 billion a 109 pct increase pretax profit 207 billion a 117 pct rise fourth quarter 1987 turnover 242 billion a 84 pct rise operating profit 6290 mln a 121 pct increase pretax profit 5550 mln a 117 pct rise
nerco inc said its oil and gas unit closed the acquisition of a 47 pct working interest in the broussard oil and gas field from davis oil co for about 225 mln dlrs in cash
he said in the case of brazil write offs of loans is a worst case outcome which is highly unlikely
it said foods operating profit excluding unusual items rose 10 pct with international operations and domestic breads and baking products major contributors to improvement in the quarter
it gave no details
western digital wdc to redeem convertible debt
because april 1 1987 is an interest payment date on the debentures no accrued interest will be payable on the redemption date as part of the redemption proceeds
high point financial corp sets offering
funaro said brazil had the worlds third largest trade surplus and estimated the 1987 surplus would be at least eight billion dlrs
leigh pemberton said in oral evidence to a select committee that we did not swap numbers we reached an understanding on how to cooperate towards stabilizing currencies at around their current levels
barnett banks inc and home federal bank of florida said they filed a suit against the federal home loan bank board and the federal savings and loan insurance corp
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
dawkins said he sees the round as providing a timely opportunity to secure further meaningful trade liberalisation in all sectors and to restore confidence in the multilateral system
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
the ec commission charged that ec producers did not have the same possibilities for defending themselves before the itc as they would have in a normal us court
having a market at our disposal which is as homogeneous and accessible as that of europe is an incredible piece of luck he told le figaro in an interview
brazil has no set target for its coffee exports following this weeks breakdown of international coffee organization talks on export quotas president of the brazilian coffee institute ibc jorio dauster said
petrobras said in its statement that the company would meet union leaders for pay talks in rio de janeiro next wednesday
varity corp earlier reporting a full year loss against a prior year profit said improvement is expected in the balance of fiscal 1987 as new products fill the inventory pipeline cutbacks in operating costs are realized and its newly acquired dayton walther business is fully integrated
if the deal had not made sense obviously we would not have done it mangan noted
the provision for loan losses was 218 mln versus 195 mln in the first quarter of 1986
on the export side it said it saw weak demand in west germany affecting export prospects elsewhere in europe while japans exports in 1987 would remain flat and sales by us exporters would respond only marginally to a lower more competitively priced dollar
the bonus of 146500 dlrs per head was made to american marketing services inc and will be paid in the form of commodities from the ccc inventory it said
male unemployment in january remained at 29 pct equal to the second worst level set last december
shr loss 27 cts vs profit one ct net loss 532376 vs profit 15584 revs 1899719 vs 2432256 six mths shr loss 78 cts vs profit two cts net loss 1521002 vs profit 30145 revs 3235907 vs 5276119 note year ago net includes gain from tax carryforwards of 5000 dlrs in quarter and 9000 dlrs in year
prime minister turgut ozal said last night the ship would not go into international waters unless greece did the same
it said it would receive written comments on the settlements before making it final
usda to update winter wheat acreage tomorrow
chinese wheat crop threatened by pests disease
its export capability will rise to 25 mln bpd when a new pipeline through turkey comes onstream in or around september
the bank of japan bought 100 billion yen in certificates of deposit cds via repurchase agreements today to show its determination to maintain an easy money policy central bank officials said
standard and poors corp said it placed on creditwatch with developing implications allis chalmers corp because of the companys recapitalization plans and intention to sell most of its businesses
communications and cable ccabo buys stake
abms says us zinc stocks higher in february
sept 25 end primary shr 31 cts vs 22 cts diluted shr 30 cts vs 21 cts net 5019000 vs 3165000 revs 801 mln vs 572 mln primary avg shrs 16306000 vs 14495000 diluted avg shrs 17266000 vs 15827000 nine months primary shr 127 dlrs vs 107 dlrs diluted shr 123 dlrs vs 103 dlrs net 202 mln vs 155 mln revs 2445 mln vs 1815 mln primary avg shrs 15875000 vs 14495000 diluted avg shrs 16853000 vs 15280000 note results are pro forma assuming that company was public throughout 1986
austrian banks divided over interest rate cut
moodys said the affirmation reflected its assessment of a less diversified risk profile in the companys receivables
moore mccormack resources inc said it agreed in principle to sell its globe metallurgical inc unit to cyprus minerals co cypm for undisclosed terms
note official results for alitalia italys national airline which is controlled by the state industrial holding company istituto per la ricostruzione industriale iri are expected to be announced at an annual shareholders meeting in april
enka will supply know how on the production of non woven fibres and basf will also purchase the right for production and sale of the colback products
the talks at the belgian resort of knokke are being held to coordinate the ecs positions on monetary issues and third world debt ahead of the spring meetings of the international monetary fund and world bank in washington next week
earlier this week new york developer donald trump made a competing bid for the class b shares
united grain corp of oregon won two contracts for the supply of 110000 tonnes priced between 9244 and 9600 dlrs per tonne for september 1 15 and november 5 20 delivery
the response of argentinas 350 foreign bank creditors had been eagerly awaited because the package is the first to be marketed since us banks led by citibank decided to take large second quarter losses in order to boost their reserves against existing loans to developing countries
shr 19 cts vs 19 cts prior period pay april 15 record march 31 note full name transamerica income shares inc
non callable for two years the issue is rated b 1 by moodys investors service inc and b by standard and poors corp
irwin jacobs has gillette gs stake
shv says it making tender offer for ic gas
avana defence document forecasts profits rise
the investment was mainly in electronics trading food and service industries
2nd qtr shr profit 32 cts vs loss 95 cts net profit 280 mln vs loss 822 mln revs 9502 mln vs 8620 mln 1st half shr profit 65 cts vs loss 62 cts net profit 566 mln vs loss 535 mln revs 188 billion vs 167 billion avg shrs 922 mln vs 867 mln note period ended february 28
soo line soo to sell lake states division
us petrochemical plants are currently operating at about 90 pct capacity reflecting tighter supply that could hike product prices by 30 to 40 pct this year said john dosher managing director of pace consultants inc of houston
peru short term trade credit up to 430 mln dlrs
in return the us agreed to hold up imposing anti dumping duties on japanese semiconductor shipments
he said however that the fdic still has control over who will eventually own the firm because it still holds the equivalent of 148 mln common shares out of a total 215 mln
the bill which must still be approved by parliament would take effect in april 1988
s and p cited the acquisition of amc as strongly negative
replacing inco and owens illinois inc will be coca cola co and boeing co effective tomorrow
the debentures will be convertible into common stock through the life of the bonds
first commerce corp fcom 1st qtr net
concerned by the first quarter downturn the us has been pressing west germany to pump up its economy and boost its imports either through fiscal or monetary policy
dimis dmisc extends warrant expiration
there can be no assurance that there will be further discussions with jacobs or that any agreement will be reached the company added
the government last week said the us economy grew at a modest 11 pct annual rate during the fourth quarter
hinrichs said the 1986 turnover increase had brought the first hesitant signs of improvement in earnings in the west german retail sector
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
three month bills worth 3500 billion lire will be offered for competitive tender at a base price of 9750 pct giving an effective annualised compound yield after tax of 987 pct
bethlehem steel said its composite prices for strip mill plates will be increased 15 dlrs a ton
board member herbert mittendorf told a news conference that brazils example was unlikely to be followed by other latin american countries
henley hengo has venezuelan refinery project
the rating service cited continued difficulties among royal bank customers particularly in the energy industry a continued high level of loan losses expected this year and relatively high sovereign debt exposure in relation to common equity
the lvi group inc said it will file with the securities and exchange commission a registration statement covering 30 mln dlrs of a new issue of a convertible exchangeable preferred stock of the company
he said geologic condtions in the area were favorable for the discovery of oil fields equal to those in nearby prudhoe bay
shr 52 cts vs 40 cts qtly div 18 cts vs 15 cts prior net 793740 vs 603661 note share adjusted for 10 pct stock dividend in november 1986
in particular s and p expects that the industrial and banking sectors would have a less turbulent year than in 1986
french oilseeds experts added the principle of a single tax regardless of varying quality was clumsy and capable of unneccessarily alienating exporters such as the us
in its world production and trade report the department said total south korea corn imports for the 1986 87 season oct sept are estimated at 43 mln tonnes with about 34 mln tonnes from the united states
centurion has assets of 105 mln dlrs atlantic said
the deal is expected to close march 31 the day trading ceases in the liquidating trust shares
seagram co ltd vo year jan 31 net
the company said it may offer the securites in one or more issues from time to time over the next two years
ne electric nes auditors qualify annual report
rent a center inc is raising 35 mln dlrs via an offering of convertible subordinated debentures due 2012 with a 5 3 4 pct coupon and par pricing said sole manager morgan stanley and co inc
continental airlines files for note offering
analysts said that if dart buys supermarkets general it would probably divest the companys operations
builders are looking at current mortgage rates and saying lets do it now said mark obrinsky of the us league of savings institutions in washington whose members supply much of the financing for home building
the quebec government said it joined with bf goodrich canada inc to study the feasability of building a vinyl chloride monomer plant in montreal
china was still believed to be in the market for more sugar traders said
with little expectation of other sales incentive mechanisms such as discounts bonuses and price fall guarantees being introduced the level of the quota will be decisive in determining the competitiveness of brazilian coffee on world markets they said
newmont realized 1168 mln dlrs in the transaction
moreover hard economic realities hold greater sway over the currency market than central bank intervention and these argue for a further dollar decline dealers said
pump prices of the lower lead petrol grades are expected to be announced soon by the oil companies which have said wholesale prices are between 13 cents litre to 32 cents higher than previous grades
representatives from nigeria are meeting today and tomorrow with officials of britains export credits guarantee department ecgd in the first of what could be a series of bilateral talks to reschedule nigerias official debts banking sources said
consumption by brass mills increased to 60700 short tons in january from 48900 short tons in december
caremark inc and baxter travenol laboratories inc jointly announced that caremark shareholders will vote on july 31 to approve the previously announced merger with baxter
philippine argentine debt talks continue
argentine debt talks difficult central bank
holders of existing preferred would hold about 35 pct of the new common
butler national corp butl 3rd qtr jan 31
funaro called brazils program very responsible and very strong adding that it is very different from other years there has been a tremendous change based on brazils current economic situation suspension of interest payments on 67 billion dlrs owed to banks 200 pct inflation and the need of four billion dlrs in new loans every year until 1991 he said he was faced with two options
north rhine westphalia to issue bond today
us and uk bank regulators are asking banks to set aside more reserves than is necessary to cushion them against the risks posed by the interest rate and currency swap transactions they carry swap dealers said
the new financial services and banking acts offer britain an alternative for retaliation which would be otherwise denied under legally binding international trade agreements
the spokesman said agency action on the proposed merger application could take as long as six months
linotypes group turnover in 1986 rose 15 pct to more than 500 mln marks the bank said
the accepted bids for annual rental payments ranged up to 90 dlrs per acre with an average of 5117 dlrs per acre
marine midlands 1986 fourth quarter loan loss provisions fell to 441 mln us dlrs from 892 mln a year before
rabobank nederland ba said it is launching under its own management a 250 mln guilder eight year bullet bond with a 6 3 4 pct coupon and priced at par
bank of france again buying dollars sources say
morgan guaranty australia ltd said it is expanding its 200 mln us dlr euro commercial paper program to include australian dollar issues
harper and row hpr to mull options after bids
sanwa bank acquires small stake in portuguese bank
southmark sm to offer special dividend
a chrysler spokesman told that the letter of intent signed with renault amcs controlling shareholder with a 462 pct direct stake includes a provision for renault to be paid 35 mln dlrs in cash for amcs finance subsidiary and 200 mln dlrs in the form of an eight pct note
they told the two discussed the subject at a routine meeting
south korea will further open its market to help cut its trade surplus with the us and to fight off pressure to revalue the won against the dollar a government spokesman said
while s and p noted that the energy markets have stabilized after last years collapse it stressed that 1987 would not mark a turnaround for this industry
the foreign currency based loans which carry interest at 15 points above libor london interbank offered rate are considerable incentives given to increase imports koo said
colombia with a total foreign debt of around 13 billion dlrs has a foreign borrowing programme of around three billion dlrs this year of which about one billion is new credits
fees comprise 85 basis points selling concession and 70 basis points for management and underwriting
bancroft said its complaint alleges that zicos tender offer materials include false and misleading information and that the offer violates the investment company act of 1940
wall street feared that collapse of the agreement might be a prelude to hyper inflation and economic malaise similar to the late 1970s
under the cooperative system income from operations is returned as patronage refunds to the members
nzi corp unit sells guaranteed notes at 836 pct
in the 1985 86 financial year pre tax profit rose to 181 billion stg from 148 billion in the previous period
central bankers said they were generally satisfied with the response to the paris accord two weeks ago to stabilize currencies at around current levels
however the bank had been singled out for a much greater role under the us debt initiative proposed by treasury secretary james baker
glickman told the measure would allow 1987 winter wheat producers and 1988 feedgrains producers the possibility of receiving no less than 92 pct of their income support payments regardless of how much acreage they planted
boston five chairman robert j
waste management wmx votes split ups payout
analysts were divided on the crude stocks
german february trade surplus 104 billion marks jan surplus 72 billion official
rochester telephone corp rtc sets dividend
moore financial group inc mfgi sets payout
i think we are progressing very well the first battle will take place next week when the full house ways and means committee considers an amendment by rep
the failure could be a blessing in disguise for fujitsu as it might have had to spend several hundred million dollars to modernise fairchilds production lines capels murtha said
the six nations of the gulf cooperation council saudi arabia kuwait bahrain oman qatar and the united arab emirates have held a series of meetings this year to examine linking their currencies to a single peg in a system which bankers say could be modelled on the european monetary system ems at present five currencies are linked either officially or in practice to the us dollar while the kuwaiti dinar is pegged to a trade weighted basket of currencies
charges taken last year as a result of reserve inadequacies in the property and casualty subsidiary sharply reduced the equity base and increased the financial leverage of the company duff and phelps said
shanghai plans soft loans to finance main projects
the meeting was delayed so a draft compromise proposal on buffer stock rules could be completed they said
euro medium term notes poised for growth
internal consumption is some 03 mln bpd
the new agreement replaces a rescheduling accord signed in february 1986 which venezuela asked to revise to reflect a 45 pct drop in oil revenues
fmc corp said it has entered into an equally owned joint venture with indo thai synthetics called thai peroxide co ltd to build a hydrogen peroxide plant with an initial capacity of 5000 metric tonnes of 100 pct peroxide north of bangkok
the payment date is april 30 and the issue will be listed in luxembourg
the crucial point here is that these are two friends and allies
livestock analysts expect renewed bull spreading in live cattle futures following yesterdays usda 7 state cattle on feed report
french cereal exports through rouen up in march
the strike the only copper industry stoppage staged in the past 13 years marked the start of a wave of protests against the military rule of president augusto pinochet
he will see suharto on tuesday after a day of detailed discussions with ministers tomorrow
the number of maxtor shares to be issued will be determined by the average closing price of maxtor stock over the 10 trading day period prior to the day the acquisition becomes effective the companies also said
basix corp bas to sell unit to cubic cub 
the indonesia spokesman an agriculture ministry official who wished not to be identified said indonesia had no problem with quality and would continue to expand sales
no other major us bank had followed the lead of chemical and marine midland preferring to keep their prime rates at 9 1 4 pct while they waited to see what course money market rates would take
the world bank will support sri lankas development program provided the country reduces its budget and current account deficits the ministry of finance said
the acquisition of the shares is part of a plan of exchange approved by united presidential shareholders at a special meeting march 6
industry sources say japanese buyers are resisting qatars prices and gulf arab oil states have pledged to make up for any shortfall in sales which a fellow gulf state suffers
one senior corporate finance manager in riyadh said banks are still reluctant to lend there is certainly more optimism in the air but i am not sure if it is firmly based some businessmen and bankers point out that government spending is still under tight control and the non oil economy may still be contracting
ceasars world chairman henry gluck in a statement urged shareholders not to take any action with respect to the offer prior to the boards recommendation
world bank said it has loaned portugal 50 mln dlrs to help improve its highway system
extraordinary debit of 50 mln stg related to the decision to seek a buyer for the companys us assets
uganda was given 15 years to repay its debts with a six year grace period while mozambique was accorded an exceptionally long 20 year period with 10 years grace
mexico has no intention of leaving the international coffee organization ico in the event of brazil withdrawing from the group the mexican coffee institute imc said
it has 73 employees at its lexington facility four branch offices in the midwest and one in new york
theodore brophy chairman of gte said we expect us sprints losses to diminish later this year as customer traffic migrates to the new fiber optic network for long distance telecommunications
they will be near the existing nissan plant in sunderland in north east england nissan said
the present situation of abusing occupying unlawfully wasting and destroying land and land resources is serious said an article in the official press explaining the new measures
first chicago fnb unit buys banks
the committee voted largely along party lines with three democrats joining seven republicans to oppose the measure
the company said it expected profit from operations for the full year to improve over 1986
feb 28 end shr 44 cts vs 16 cts shr diluted 37 cts vs 16 cts net 5378000 vs 1987000 revs 268 mln vs 146 mln avg shrs 124 mln vs 121 mln shr 126 dlrs vs 45 cts shr diluted 110 dlrs vs 45 cts net 155 mln vs 5401000 revs 803 mln vs 464 mln note share adjusted for stock dividends declared through today
the bill now goes to the full house
i think that the objective of greater exchange rate stability ought to loom larger among our various policy priorities
the dollar had plumbed a post world war ii low of 14998 yen on january 19 and reached a seven year low of 17675 marks on january 28
saudi arabia has a floating oil stockpile of 40 to 50 mln barrels
the proceeds from yesterdays 100 mln dlr equity warrant for kansallis osake pankki k o p will probably be swapped into floating rate dollars once the final terms have been set for the deal executive vice president erkki karmila told a press conference
us dollar losses propel broad commodity gains
general cinema said the financing costs associated with its purchase of 35 mln carter hawley hale stores inc chh shares for 1779 mln dlrs and its 897 mln sterling investment in cadbury schweppes plc lowered first quarter net
he accused industrialised countries of failing to provide more resources to implement the un program for africas economic recovery and development despite africas willingness to raise two thirds of the capital from domestic sources
the rating agency said its review is focusing on the effects the acquisition is likely to have on resorts internationals leverage and ability to service its debt
the statement said the offer was due to a decision by wickes international corp a member of the us wickes companies wixa inc group which holds an 805 pct stake to realise much of its investment
seacoast banking corp of florida sbcfo 3rd
final terms will be fixed on april 13 and the non callable issue is available in denominations of 5000 dlrs
south korea plans to increase the size of its budget in 1988 by 11 to 12 pct from this years 15596 billion won economic planning board officials said
they are only after attractive money one bond trader said
chirac reagan discuss arms control trade
coffee for delivery in may ended at 9928 cents a pound on the new york coffee sugar and cocoa exchange down 076 cent and the lowest price since august 1981
at present we do not have a forecast for the unemployment rate this year but it is difficult to foresee the situation improving a labour ministry official said
spot volume in the australian foreign exchange market jumped to a record 2263 billion dlrs a day in january from 1618 billion in december and 827 billion a year earlier the reserve bank said in its monthly bulletin
commonwealth edison co filed with the securities and exchange commission for the sale of 375 mln dlrs in first mortgage bonds
in addition export of components to japan increased with 15 mln dlrs invested in 1986 to expand output of aluminium cylinder heads to 26000 per month from 6000 mmal said
the agreement on the moratorium with some 330 creditor banks expires on june 30
but its jumping to conclusions to extrapolate this report into the future a 07 pct increase in disposable personal income in january which may be linked to the new tax laws probably helped boost spending in february he said
sudan reached a framework rescheduling agreement in 1984 with western government creditors of the paris club
last year the company had sales of 26 billion dlrs with 19 billion dlrs generated by its tire operations
february closing stocks of primary zinc at european smelters excluding yugoslavia fell 4500 tonnes to 160000 from 164500 revised from 164300 in january compared with 126700 in february 1986
but bell said the authorities would like to see another 10 or 15 billion dlrs in the reserves before joining if they did so
we must do it quickly or face retaliation from washington he said
fluor flr wins general electric ge contract
it revised its december 1986 forecast that exports would total 205000 tonnes citing low demand the loss of us market share in the two main importing countries britain and the netherlands and the sale of nuts intended for export at a premium in the us domestic market
the sources said japanese companies had been lifting a total of about 185000 barrels per day bpd of iranian crude under term contracts but only one firm has agreed to lift in the second quarter
the company said a final agreement has not yet been reached on the first transaction but negotiations are expected to be concluded in early june
our rationale is that we reviewed the application for control filed by twa with the dot and ascertained that it did not contain sufficient information upon which to base a competitive review james weiss an official in justices antitrust division told
i think what we need is to debate this within the administration he said
the row in the aegean erupted after turkey said it would search for oil round three greek islands off its coast following an announcement from greece that it planned to drill east of thassos island after taking control of a canadian led oil consortium operating in the northern aegean
it said cumulative roastings for calendar 1987 now total 3845000 bags compared with 4070000 bags by this time last year
us trust co which also quotes its broker loan rate publicly is posting a 7 1 2 pct rate
since the february talks broke down the market has fallen from about 13000 cents a lb to a low of 9810 cents a lb today as buyers and sellers sought to reassess supply and demand
his plan is an outgrowth of a study by a coalition of northeast governors
imports of soybean oil are estimated at 200000 tonnes also unchanged from last year
wheat season begins june 1
it is aiming for an average 128 pct share throughout the year after 117 pct in 1986
brazilian business leaders attending a weekend meeting with president jose sarney called on the government to seek help from the international monetary fund imf in resolving its debt problems
harcourts bid was preceded by an earlier 34 dlrs a share bid by theodore cross
bank spokesman arne lund said we could not do it earlier because it was not possible for the tax authorities to say if the certificates were liable to stamp duty or not he said the issue should be assisted by high short term interest rates
re exports the territorys traditional entrepot trade outpaced domestically produced exports for the first time since march 1985
a wall street analyst said it was hard to determine what the equity in the newly leveraged company would be worth
cyclops cyl holder withdraws takeover motion
the us agriculture department is proposing tighter federal standards setting allowable limits on insect infestations in grain shipments
the estimated 1986 results are based on 3207000 shares outstanding compared to 2566000 shares outstanding for 1985
the union representative said that the pact offered cost of living increases designed to keep pace with inflation but contained no wage increase
bangladesh petroleum corp said it floated an international tender for imports of two mln barrels of jet kero superior kero and high speed diesel for shipment during january june 1988
the issue will be priced to have a conversion premium of 22 to 25 pct with final terms to be set on monday april 6
tom harkin d iowa defended his controversial mandatory supply control farm bill and said us farmers should be allowed to vote in a referendum whether they approve of the proposal
shr 22 cts vs 19 cts net 11 mln vs 994000 year shr 83 cts vs 60 cts net 43 mln vs 31 mln note1985 net includes tax loss carryforward gain of 8000 dlrs
unless we get the budget deficit down we will not get the trade deficit down he did not elaborate on his views of the linkages between the two deficits
wendys another operator of fast food restaurants rose one to 12 3 4 in active trading
she gave no dates or prices for the transaction but said the units would be sold by negotiation
asamera asm completes refinery sale
however the bank said it will maintain the high level of provisioning for loan losses established last year because of many market uncertainties
enviropact inc said it has signed a letter of intent to acquire willms trucking co inc for about 125 mln dlrs with completion expected in 45 days
japan rubber stocks fall in march
pre paid legal services inc chairman harland stonecipher said the companys sales growth rate for each of the next five years would substantially exceed the average 100 pct recorded over each of the last few years
the new accounting policy is not expected to adversely affect working capital position future cash flows or the companys ability to conduct ongoing business operations it said
american continental corp amcc shelf offering of up to 250000 shares of 100 dlr cumulative convertible preferred stock through offerman and co inc
farmers planted only around 60 mln acres of corn in 1983
cavendish will buy the 3482 mln hongkong electric shares from hutchison by issuing 975 mln new shares
uk money market given further 30 mln stg help
knight ridder inc krn sets quarterly
noel industries inc said its board approved in principle a private placement of 900 units each unit consisting of 1000 dlrs of nine pct senior subordinated convertible debentures due marcxh 31 1991 and 95 warrants to purchase noel common
the result is squeezed margins
hre properties hre 1st qtr jan 31 net
foreign exchange dealers said todays announcement caused jitters in the market with foreign and local banks making heavy purchases of us dollars
they got a 1 16 reduction
they said the shipment was for april 8 to 20 delivery
they said the ministry wants a 050 yen raise in issue price from february to 9950 to yield a record low 5075 pct
at todays sale the bond equivalent yield was 630 pct
visual graphics sets dividends
it suspended interest payments in january on 54 billion dlrs owed to about 400 private foreign banks
the company said it expects to repay the two year loan through equity preferred and debt offerings and possibly internal funds and the sale and or leaseback of aircraft
oil prices rise on saudi effort
baldrige warns of world trade war danger
tandy brands tab places convertible notes
we might enjoy a short term boost to activity but at the risk of a damaging return to the uncertainty and acrimony of high inflation he added
el paso electrics january rate case will remain before the commission pending approval of the settlement
a miti official said the ministry has conducted a survey of foreign exchange trading by trade houses and exporters
per share information not available
canadian trade minister pat carney said that agricultural policies should not hurt world international trade and should therefore become more price responsive over time
after the lifting of us sanctions against the polish economy we considered all political obstacles had been removed but that has not been the case urban said
i would be pleased with additional support with 25 pct of the worlds total banking assets japan could do more to help assist indebted third world countries develop roads bridges and other infrastructure he said
snap on tools corp sna 3rd qtr net
miguel urrutia a senior official of the inter american development bank for instance said iadb lending had actually declined in 1986 and had started slowly in 1987
the steinberg group said it bought the stock for 175 mln dlrs in open market purchases between april 13 and may 19 at prices ranging from 13625 to 142661 dlrs a share
the energy department study discusses several options to curb reliance on foreign oil but makes no recommendations
first boston inc said it has started its previously announced tender offer for all common shares 219 dlr cumulative preference shares and 1125 dlr convertible preferred shares of allegheny international inc at 2460 dlrs 2000 dlrs and 8750 dlrs respectively
the hafts lost but walked away with at least 100 mln dlrs in profits analysts estimate
i think theres a chance well see that legislation 0 92 passed but not for 1987 crops
bank of japan steps up dollar buying
the spokesman said the commission would only have to reimburse the member state for the cost of buying in the sugar after the product was sold out of intervention stores at a later date
fees consist of a 1 1 2 pct selling concession and a one pct combined management and underwriting fee
the officials said corn imports rose because the world surplus and the yens strength against the dollar reduced chicago prices
we will respond to this news as soon as we have had an opportunity to analyze the decision and any and all options available to us chairman william bushnell said in a statement
qtly div eight cts vs eight cts prior pay may 11 record april 24
it said the business which had sales of 67 mln dlrs when it was acquired in 1971 had sales last year of 398 mln dlrs up 12 pct from 1985
reebok international limited rbk 1st qtr
speculative inflows could cause monetary aggregates to grow
pretax earnings fell 27 pct to 134 billion dlrs from 183 billion ibm said
it is more than was talked about when prime minister yasuhiro nakasone was here
exercise requiring one days notice must be for a minimum of 100 warrants through one currency only
currently the tax credit is calculated against a banks profits as a whole
refined palm oil traded in bulk us dlrs per tonne fob
monetary sources have said that the united states had brought pressure on the imf to approve a loan package for mexico using economic conditions that have not been broadly used before but finch according to the sources made no reference to this
ti caro was taken private in 1984 in a management led leveraged buy out
output of defense and space equipment was up 04 pct the same as in january and 62 pct higher than a year ago
the investigation which is still active mushroomed in recent months as a growing number of well known traders and prominent investment banking firms have been charged with wrongdoing
the commission claims last years accord between the us and japan on microchip pricing gives us firms privileged access to the japanese market
fw woolworth co z 4th qtr jan 31 net
the group said it has had a number of meetings over the past few days with domestic and overseas financial institutions
shr 22 cts vs 16 cts net 2460000 vs 1730000 sales 370 mln vs 273 mln note share adjusted for two for one stock split in february 1987
he said concrete deals had not yet been finalised as a result of a one billion dollar accord signed in moscow last month with french businessman jean baptiste doumeng
careplus said its board has tentatively determined that its stock would be exchanged for common stock of the new corporation at the rate of seven for one
marcano said venezuela which has reduced its debt by six billion dlrs since 1983 should have no problems in repaying restructured debt this year or next
separately galveston said it agreed in principle with noranda inc unit noranda explorations ltd for an option to earn up to a 50 pct interest in a major mineral property located at the baie verte peninsula newfoundland
southam inc stmto 1st qtr net
the market at first interpreted this as indicating the us would be ready to scrap the louvre accord and let the dollar decline further unless surplus countries notably west germany try harder to stimulate their economies as pledged in the accord foreign exchange dealers said
algonquin said the filing would allow its customers to move available spot gas supplies to price competitive markets
at the same time much will depend on brazils attitude
standard and poors said it upgraded 31 mln dlrs of preferred and preference stock of iowa illinois gas and electric co
final terms will be fixed on april 9
renewal of the khj tv license has been challenged in regulatory proceedings for more than 20 years
on march one purolator agreed to a 35 dlr a share leveraged buyout by eight purolator executives and ef hutton lbo inc a unit of ef hutton group inc
four cargoes should reach port bin qasim or karachi port buyers option by may 31 and the balance by june 30 1987 it added
1986 net both periods includes writedowns of 290000 dlrs of oil related seismic data
the company is a joint venture merchant bank between the bank of china first national bank of chicago and the industrial bank of japan ibjtt
equion corp equi 2nd qtr jan 31 net
no early redemption is permitted on the bond which will be paid back in full on april 15 1995
uk government bonds or gilts surged by more than 1 2 point on the better than expected news as earlier worries about the figures evaporated
prices of natural gas at the wellhead rose 18 pct in february after rising 42 pct a month earlier and were 148 pct lower than they were 12 months earlier the department said
june 30 end shr 03 ct vs four cts net 18463 vs 174486 revs 5074686 vs 4181978 avg shrs 5624041 vs 4860000
but traders noted that the poor yielding acres being set aside will result in only a modest decrease in final production figures since farmers will concentrate on high yielding land
in anacomps fiscal 1986 it earned 4073000 dlrs or 13 cts a share
europes 12 mln farmers are furious over plans by the european commission to cut subsidised prices and severely limit farmers automatic right to sell unwanted food into public stores at high guaranteed ec prices
youcef yousfi director general of sonatrach the algerian state petroleum agency indicated in a television interview in algiers that such imports would be made this year
asked by the agency about the recent fall in free market oil prices nazer said saudi arabia is fully adhering by the accord and it will never sell its oil at prices below the pronounced prices under any circumstance saudi arabia was a main architect of december pact under which opec agreed to cut its total oil output ceiling by 725 pct and return to fixed prices of around 18 dollars a barrel
canadas finding will strain the us canadian trading relationship could damage the future of us feedgrains support for the free trade negotiations and also negatively impact farm trade reform with other nations the council said
international technology a hazardous materials management company said it purchased western emergency an environmental services firm to offer a broader range of environmental services to the gulf coast area
a vessel carrying 13500 long tons of bagged wheat flour from the gulf to aqaba received a lump sum of 472500 dlrs
japanese agriculture ministry officials said a study of agriculture subsidies by the organisation for economic cooperation and development oecd is still under way and will be completed sometime next month
the final ruling will be based on more detailed information the officials said
canadian airlines which has 81 aircraft last week ordered six commuter planes from british aerospace and said it would soon buy as many as six wide bodied aircraft from airbus or the boeing co
new singapore financial market set to open
moodys may downgrade piedmont aviation pie 
the issue carrying interest of 1 8th of a point over the three month vienna interbank offered rate is the second of its kind
qtly div six cts vs six cts prior pay april one record march 20
american express said it was subpoenaed for documents pertaining to securities transactions of american express and firemans fund
unadjusted sales were 69 pct higher than in january 1986
the company also said it expects its snet systems business which is composed of some of its non regulated businesses to be profitable by the end of the year
the latest rumors originated in tokyo traders said
the kingdoms main buyers the four us oil firms with past stakes in the national oil company aramco mobil exxon texaco and chevron enjoy considerable flexibility in the timing and volume of their liftings but are bound to pay official prices the sources said
it said that in addition to common stock sage equities will receive 667667 warrants exercisable at 150 dlrs a share
norsk hydro eurodollar bond increased to 125 mln
brazil suspends import of 500000 tonnes maize
franklin resources inc said it believes earnings could double this year as compared to a year ago when the company reported income of 32 mln dlrs on 143 mln dlrs in revenues
the fonds special de grands travaux fsgt is issuing a 17 billion franc 910 pct 12 year domestic bond at 9930 pct lead manager societe generale said
trizec corp ltd 1st qtr jan 31 net
norcens 1986 cash flow fell 10 pct to 2049 mln dlrs from 2289 mln dlrs in the prior year
state run oil company ecopetrol said colombias main oil pipeline was bombed again and pumping of 170000 barrels per day was suspended
finance secretary jaime ongpin has said landowners are likely to be paid 10 pct in cash and the rest in 10 year bonds with 10 pct of their face value redeemable each year
a boti official said weve had worldwide interest in the deal she noted the tokyo stock market had experienced a mild correction at the beginning of the week but that bank stocks were hardly affected
the 1987 target is 617 million
although the projected increases in demand for opec oil should strengthen world prices wellemeyer said he believed the organization would hold its official price below 20 dlrs a barrel for some time to prevent residual fuel users from switching to natural gas supplies
group lifts stake in suave shoe swv to 115 pct
on wednesday the court of appeal will link the outstanding itc cases that have so far reached it and a single set of hearings could begin in early january they added
britain has threatened to use its new financial services act to revoke or deny licences to japanese brokerage houses if it does not get satisfaction
ichan still apparently has 114 pct
by raising the minimum amount of aid required in mixed credits the agreement aims to make such hidden subsidies too costly for frequent use
but these credits cannot be approved until the export credit agencies agree to resume insuring the debts
it cited as reasons the uncertain regulatory climate in new york state and the depresed price of new york state electric stock which has been caused by the delay in the nine mile point unit two nuclear plant
petroleos de venezuela sa said it will sign a contract march 17 to buy a half interest in a corpus christi texas refinery and related operations
del val financial corp dvl sets payout
mco holdings inc said its shareholders and those of maxxam group inc have approved the proposed merger of the two companies
indonesian rupiah slips against mark and yen
excludes extraordinary charge of 2503000 for current qtr and 4744000 for year
peoples heritage bank said it has agreed to purchase northeast leasing co inc a portland maine lessor of office equipment for about 43000 common shares
return on assets increased by two cts to 46 cts per 100 dlrs of average assets from the first quarter in fiscal 1986 but declined two cts from fiscal 1986 fourth quarter
pirelli uk international finance bv is issuing a 50 mln stg eurobond due april 9 1992 paying 10 pct and priced at 101 1 2 pct lead manager barclays de zoete wedd ltd
dixons group plc said that pursuant to an agreement with audio video affiliates inc part of an investor group that made a rival bid for cyclops corp cyl all litigation between them has been dismissed
rumor has it that the cbt grains are coming over here because the bonds are too crowded one midam trader said
multi step had a 739146 dlr loss for the six months ended december 31
he said auctions of treasury bills whose outstanding level touched 9544 billion pesos on may 20 were going well
moodys downgrades standard chartered plc affects 16 billion dlrs of debt
ph glatfelter said its board increased its quarterly dividend on its common stock to 14 cts per share from 125 cts per share the prior quarter
suburban bancorp said a cook county circuit court ruled in favor of one of its companies suburban bancorp of bartlett formerly bartlett state bank on claims against six former directors
schering plough sgp mulls dr
dunhill holdings plc a subsidiary of rothmans international plc rotl has appointed chemical bank international ltd as sole dealer for a 50 mln us dlr and sterling commercial paper program chemical said
some governments including austria had linked their final approval to other trade credit issues which would be discussed at a meeting here in mid april they added
funaro says brazil needs more faster finance
mobil corp mobn of the us plans to open an office in peking to develop oil exploration opportunities in china the china daily said
nca corp ncac 4th qtr loss
under the new eight year repayment plan private sector debtors may obtain dollars at the preferential 750 bolivar rate by paying a premium of of 3 bolivars on principal and up to 150 bolivars on interest
the agency predicted industrial production will grow 25 pct in the current january march quarter after falling 07 pct in the previous quarter
any calls will be at 100 plus the coupon in year one declining in equal amounts to 100 in 1997
southwestern bell sbc sees earnings dilution
that code should be completed within the next few weeks he said
shr loss 1529 dlrs vs loss 280 dlrs net loss 2213 mln vs loss 404 mln revs 1463 mln vs 2607 mln note 1986 loss includes extraordinary loss of 1716 mln dlrs or 1185 dlrs shr related to writedown of certain petrochemical assets and reduced by tax gain of 42 mln dlrs or 28 cts shr
wall street stocks purolator courier pcc 
bp cuts north sea propane price butane unchanged
the ratings downgraded to caa from ba 1 included texacos senior unsecured debt texaco capital incs and texaco capital nv s senior unsecured debt and industrial revenue and pollution control bonds
business computer bcsi had 4th quarter profit
however gilts may benefit from further declines in uk interest rates they said
it also bid for all corona warrants expiring aug 31 1987
in addition cash flow from operations should benefit from planned working capital reductions
it was the third major mine accident in the country in less than a week
external pressures are rising as the us and europe seek removal of tariffs and quotas to help reduce their trade deficits with japan
it said exports in the eight month period rose to 358 billion dlrs from 318 billion in 1986 while imports rose to 412 billion dlrs from 334 billion a year earlier
if the settlement agreement is approved the trading prices of the bonds will decline substantially because they will no longer reflect the speculative premiums at which the bonds currently trade burlington northern also said
conference chairman manaspas xuto of thailand said the formal adoption represented a historic moment the latest round of talks which began march 9 represented the fourth attempt to negotiate a new inra in nearly two years
although japanese investors sold huge amounts of stocks in new york yesterday most are still looking for chances to lighten their us stock inventories hiromitsu sunada manager of meiji mutual life insurance cos international investment department said
central pennsylvania savings association said it made a 30 pct investment in pinnacle mortgage investment co terms were not disclosed
if the deal goes ahead the statement said amc shareholders other than renault will receive chrysler shares for each of their shares valued at four dlrs
avx avx files to offer convertible debentures
allegis corp said it has created a limited partnership to sell selected hotels in canada to the public
the bundesbank had managed successfully to keep interest rates down on the short term money market although its policies had exerted little effect on the long term capital market which was so important for investment financing and thus for the course of the economy it said
mexico signs 77 billion dlr loan agreement with commercial banks
the rebate granted at yesterdays ec sugar tender represents some concession to producers complaints that they are losing money on exports outside the bloc ec commission officials said
ems development has also been held up by britains refusal so far to join the systems core exchange rate mechanism
japans livestock industry promotion corp lipc said that on april 28 it will import 7515 tonnes of beef for the first half of the 1987 fiscal year started on april 1 under the simultaneous buy and sell tender system against 6813 a year ago
japan says oecd study on subsidies still ongoing
however dome said its management and financial advisers would evaluate all proposals including transcanadas
but china will probably find that such funds will not increase except for those from japan and the world bank given other claims particularly from sub saharan african countries which cannot raise commercial credits they added
1986 net both periods includes pretax gain 218 mln dlrs from sale of remaining interest in paradise hills nm development
taiwan foreign exchange reserves hit record high
economic spotlight australian markets booming
the funds will be used in the 700 mln dlr pacific petroleum project which includes the construction of a 267 klm 1602 mile pipeline connecting nuevo teapa in the oil rich state of veracruz and salina cruz oaxaca on the pacific coast
freddie mac said that first union mortgage corp already swapped 70 mln dlrs of new residential mortgages to freddie mac in the first phase of the contract
the action affected about 840 mln dlrs of debt securities
they expected low early march output to pick up towards the end of the month as buyers sought to fulfill their contractual obligations
baker said the us seeks a greater say in bank decisions for itself and other creditor countries
although prices have long since come down to a point where export controls could be reintroduced producers and consumers at the 75 member ico have not been able to agree on new guidelines
washington mutual savings bank wamuo 3rd qtr net
the surge in reserves is the result of our trade surplus and recent purchases of us dollars on the local interbank market chang said
the currency was hovering around 7678 cts in early afternoon trading
emerson emr to issue new zealand notes
among the main factors affecting liquidity bills maturing in official hands and the take up of treasury bills will drain some 161 billion stg
but netbacks for crude oil refined in northern europe was generally lower with brent valued at 1889 dlrs off 30 cts from the previous friday and bonny light was off 17 cts to 1958 dlrs a barrel
international telecharge inc itilo 3rd qtr
it said wheat stocks at the end of 1986 were 390000 tonnes up from 223000 at end 1985
sao paulo state presidenze prudente 10 mm votuporanga 260 mm franca nil catanduva 01 mm sao carlos nil sao simao nil
nissen said discussions on the technical details of a rule change to allow when issued trading were still taking place between the government broker at the bank of england and the quotations department of the stock exchange
the bank of england said it had provided the money market with 115 mln stg assistance in the morning session
turnover 978 mln stg vs 180 billion
no pressing need for soviet wheat subsidy lyng
1985 shr and net exclude extraordinary gain of 294859 dlrs or 10 cts share
the canadian consumer price index rose 04 pct in february to 1358 base 1981 compared with a 02 pct rise in january and a 04 pct rise in february last year statistics canada said
because of the banks sensitivity to south africas apartheid regime the previous negotiations were conducted with fritz leutwiler the former head of the swiss national bank acting as mediator
the bundesbank had no comment
there is ample liquidity the fed is not going to shift gears at the present time or for at least another month said maria ramirez of drexel burnham lambert inc
indonesian energy minister subroto said opec is deliberately under its production ceiling of 158 mln barrels to defend its 18 dlr a barrel price target
he told a lower house budget committee in parliament that the six nations have taken measures including market intervention to support the dollar above that level
the controls would be used during emergency
boston bancorp sbos sets two for one split
argyll group credit facility oversubscribed
johnston koppers co kop and j
earlier today reagan imposed 100 pct tariffs on a range of japanese goods in retaliation for japans alleged violation of a bilateral pact governing semiconductor trade
the american stock exchange said it would provide further details later
temple inland inc tin 3rd qtr net
republicbank also said its net income for the first quarter is expected to be about 104 mln dlrs or 30 cts a share on a fully diluted basis
earlier today carl icahn dropped his bid to take trans world airlines inc twa private and dart group corp dartao said it abandoned plans to acquire dayton hudson corp dh both cited market conditions
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
last week gaf increased its ownership of borg warner shares to 199 pct of those outstanding minstar inc mnst sold its 124 pct holding
lasmo set to benefit from future oil price rises
inco has struggled in recent years against sharply lower nickel prices
german banks see low interest rates continuing
holly corp hoc 2nd qtr jan 31 loss
year to date chrysler made 315635 us cars and 63795 us trucks compared to 373481 and 134 in the 1986 period respectively
sun state savings ssslo 3rd qtr net
it will be available in denominations of 1000 dlrs and will listed in luxembourg
rodney de mel said affected trees less than two years old would undergo base budding attaching a clone as close as possible to the trunks base and cutting off the top of the tree once the bud has taken
the basket comprises principally the us dollar yen mark swiss franc french franc sterling guilder canadian and singapore dollars it added
the official also said that he expected trade issues like the dispute between the us and japan over microchips to be included in the discussions
shr loss 11 cts vs loss 48 cts net loss 254000 vs loss 784000 revs 941 mln vs 473 mln avg shrs 2317000 vs 1642000 note share adjusted for stock dividend and reverse split
drexel burnham and tucker anthony co managed the deal
the borg warner spokesperson said the company has not been able to reach an agreement with minstar and borg warner has not granted minstar access to any records
that could send prices 50 cts to a dollar higher he added
but traders and growers said they were against the new pact because its buffer stock mechanism was likely to interefere with free market forces and prevent sharp rubber price rises
the bankers also expressed disappointment gros could not give assurances as to when interest payments on the 68 billion dlrs of medium and long term debt would restart
the bonus was awarded to the pillsbury company
shell canada ltd said its shell canada products ltd unit will sell three tankers effective april one 1987 to socanav inc terms were not disclosed
on the other hand the report noted consumer prices for industrial goods and private services have been rising steeply as companies built up their profits
dealers said there were widespread rumours that the us federal reserve telephoned some banks in new york to ask for quotes last wednesday and even intervened to sell the dollar when it rose to 187 marks
however bankers are hopeful that an accord will be struck by may 31
shr loss 113 dlr vs loss 204 dlrs net loss 3674000 vs loss 3016000 revs 2894000 vs 1464000
rotterdam port subsidy to end july 1 minister
the payment date is march 25
supermarkets general sgl gets unsolicited bid
scimed life systems inc smls said bristol myers co is analyzing the pending lawsuit brought against scimed by advanced cardiovascular systems inc to determine whether to consummate its previously announced plans to merge with scimed
the company did not disclose any prices
moodys investors service inc said it lowered the debt and preferred stock ratings of usx corp and its units
vigorous spending on durable goods last month especially cars foreshadow a rise of at least 15 pct in consumption he added
west german 1986 sugar output rises
shr primary 64 cts vs 45 cts shr diluted 60 cts vs 44 cts net 4524000 vs 3212000 revs 2025 mln vs 1719 mln avg shrs primary 7112480 vs 7052964 avg shrs diluted 8034223 vs 8008763 year shr primary 170 dlrs vs 131 dlrs shr diluted 165 dlrs vs 130 dlrs net 121 mln vs 9252000 year revs 6124 mln vs 5234 mln avg shrs primary 7112480 vs 7052964 avg shrs diluted 8034223 vs 7732544 note includes after tax lifo charges of 441000 dlrs vs 359000 dlrs for qtr and 539000 dlrs vs 407000 dlrs for year
cp national corp cpn 3rd qtr net
but january sales dropped by 277 pct from december levels to 2352 billion dlrs more than the 224 pct fall originally reported
the department said about 2600 american citizens live in iran the overwhelming majority dual nationalities
we expect the successful cooperation between us and onomichi will pave the way for further cooperation with other japanese shipbuilders in the future lo said
the reserve bank said the m 3 data for march was affected by the start of the operations of national mutual royal savings bank ltd which has resulted in the transfer of deposits equivalent to around 15 pct of m 3 from the united permanent building society to national mutual royal savings bank ltd
currency futures are likely to move higher following the sharp rally today after president reagan announced that paul volcker would not accept a third term as federal reserve chairman and that alan greenspan was nominated as his replacement currency analysts said
nevertheless mason thinks the money center bank stocks could be poised for a short term rally
he said in an interview with that after a few years it was likely south korea would drop barriers to foreign goods and move toward a more balanced trade position
but the seven seem to accept their commitment to stable currencies applied to todays exchange rates and not those at the time of the paris agreement when the dollar stood higher
any move by japan and west germany to boost their economic growth could lead to a quick change in the us position
soybean cake meal in thousand short tons 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 212 212 387 387 production 26558 26203 24951 24951 total 26770 26415 25338 25338 note 1985 86 production estimates based on october year crush of 1060 mln bushels
the partnership whose sole general partner is elkhorn investor alan parsow said it has no present intention of effecting any change in the control of orange co inc
us officials say brazil should deal with banks
ibm is still the ruling force in mainframe systems software said scott smith an analyst with donaldson lufkin and jenrette
tax 104 mln vs 71 mln
by the year 2000 only 10 developing nations will still be exporting timber from 33 currently and their export earnings will drop from a 1980 peak of 68 billion dlrs to less than two billion a world bank and un sponsored survey said
4 the floor price will not be breached
while substantial we believe the unresolved take or pay exposure will remain manageable he said in a letter to shareholders that appeared in the companys new annual report
one must be held before june 1988
dutch chemical group launches dual currency bond
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
president kaunda had ordered the price reductions to take account of lower import costs following the revaluation of the kwacha to a fixed rate of eight per dlr from 21 on may 1
kenneth may president of holly farms poultry industries and a director of the national broiler council told a house agriculture subcommittee the incidence of salmonella in chicken has not increased in recent years and that chicken is neither the major source of the bacterial poisoning nor the cause of an increase in outbreaks of the disease
venezuela has obtained more than 300 mln dlrs in financing for industrial projects and has also increased its lines of credit for import financing finance minister manuel azpurua said
large lump political risk insurance is the sort of thing we want to take a look at you have to try to look forward to see if you are simply in a peak and trough situation or it is a more long term thing stephens said in response to a qustion about whether ecgd will strike more countries from its list of political risk insurance recipients
but mcclure said senators told him there is no doubt dumping is going on based on evidence such as invoices of purchases of the japanese products
ah robins says rorer group merger proposal merits further consideration
duff phelps lowers public service electric peg 
canada dlr driven by foreign buyers wilson
much is going better than the impression gained by the public from the january figures which have been in the meantime superseded he said
brae corp brae 3rd qtr dec 31 loss
analysts have speculated that gencorp on a break up basis could fetch more than 110 to 120 dlrs per share
it notes that other favorable strategies include foreign investment debt equity swaps already successfully experimented with in some countries
it would not look good for opec unity if nigeria which holds the presidency raised the issue he said
the yen later firmed to around 14790 14800
the transaction with nippon life remains subject to approval by the japanese ministry of finance which is expected in april
usda to propose foreign meat inspection rule
last year mayer cut the initial prices between 19 and 27 pct but last fall the government announced a one billion canadian dlr aid program to compensate for the price cuts
however the european representative on the task force herve de carmoy chief executive international for midland bank plc disagreed
boliden ab blds st 1986 results
neither side optimistic on rotterdam port issues
alfonsin who is beginning a four day private visit to the us was in philadelphia to speak to the private world affairs council a non partisan body dedicated to increasing public awareness of international affairs
alden electronics inc said its board declared an annual dividend of 15 cts per share on class a and b common stock down from 25 cts last year due to an expected drop in earnings for the year ended march 28
a rise in the surplus on commission to 2088 mln marks from 1881 mln was not enough to compensate for this
other deals have been fixed with prices linked to oman and dubai spot prices less a discount they said
the terra nova field lying 350 kilometers east of st
sassan was heavily damaged by an iraqi air raid only 10 days before abu al bukhoosh was attacked
following is the text of a statement by the group of seven the us japan west germany france britain italy and canada issued after a washington meeting yesterday
an additional 228000 tonnes of durum wheat are available to algeria under the departments export enhancement program sims said
shr 49 cts vs 50 cts net 3922533 vs 3979580 note full name montgomery street income securities inc
a and p said the acquisition of shopwell in august 1986 and waldbaum in december helped us achieve better than expected results in the fourth quarter ended february 28
upon completion of the proposed transaction jostens will own 20 pct of careercoms stock which it intends to hold for investment purposes it said
shr primary 78 cts vs 68 cts shr diluted 75 cts vs 68 cts qtrly div six cts vs five cts net 7929000 vs 6569000 revs 787 mln vs 619 mln note pay date for the qtrly div is april 28 for shareholders of record april 20
the pace of the probe picked up markedly in november after ivan boesky one of wall streets most successful stock speculators agreed to cooperate with government investigators and to pay a record 100 mln dlrs in penalties and illegal profits after being charged with insider trading
co managers are australian european finance corp ltd and cho heung bank
buckhorn inc bkn sees higher profits in 1987
dekalb dklbbo sells heinold hog market
but analysts said output cuts could help by making it easier to increase prices as planned on april 1 and forcing firms to stop extending market share by selling at a loss
however the introduction of the new model had kept this years pre tax profit down
the fees comprise 1 1 4 pct selling concession with 5 8 pct management and underwriting combined
the smelter also produced cadmium bismuth and indium
the issue is non callable for two years
united food and commercial workers union local 222 rejected a new contract proposal from iowa beef processors inc and remain out of work union spokesman allen zack said
south korea to hold current account surplus down
purolator announced earlier it was mulling a takeover bid but analysts wrongly predicted the offer was from another courier company
the group has said it is accumulating intermedics stock for investment purposes
fed allows citicorp cci sears s thrift deal
this brings the total assistance by the bank so far today to 219 mln stg against a liquidity shortage it has estimated at around 300 mln stg
the transaction was valued at 500 mln dlrs
the communique did not identify the supertanker but said columns of smoke were seen billowing from it
stals the countrys chief foreign debt negotiator said we are busy finding out how they banks feel
a 47 pct coupon and volume of 1400 billion yen for the april 10 year bond proposed by the finance ministry this afternoon were taken favourably by the market
the new banking bill updating the 1979 banking act is the third leg of the conservative governments legislation for the supervision of financial institutions
negotiations between the union and employers which are due to resume early next week are currently stalemated with the union refusing to accept sweeping changes in working hours and practices in return for a 15 pct pay increase
mark iv iv unit to begin conrac cax tender
dune resources dnlaf reserves rose in 1986
more generic grain certificates should be released onto the market in order for the us certificate program to have its full effect on commodities according to a study by sparks commodities inc
bobbie brooks inc bbks year net
bank of japan satisfied with yen at current range
but eyskens said februarys agreement between leading western industrialised nations to stabilise exchange rates at around current levels was working and this would allow the ec to speed up its efforts to boost the internal stability of the ems
current law requires usda to donate at least 750000 tonnes of surplus grains and dairy products under the section 416 food donation program
s p downgrades four texas banks affects combined 800 mln dlrs debt preferred
on tuesday it added reserves directly through two day system repurchases
export director carlos santana told a press conference the saudis were the first suppliers of oil to impose such conditions after brazils decision to halt interest payment of its commercial debts last month
the february surplus compared with a deficit of 1578 billion lire in the same month for 1986
but analysts said the price rises have been slight so far and some questioned whether japan would be successful in forcing japanese companies to cut production in the long run
funaro was reactnng to a british statement following his talks with chancellor of the exchequer nigel lawson saying the uk government had no part to play in what it viewed as a problem between brazil and its commercial creditor banks
during the prior year the company operated as f and m importing a publicly held wholesale food distributor
he said the target could still be achieved but much will depend on the direction of long term capital flows
mitchell energy and development corp mnd net
i think at the summit meeting in venice what we ought to be trying to do is to get the other major industrial nations that are involved to bring interest rates down say one pct bentsen told nbc televisions meet the press bentsen said coordinated rate cuts could take billions off the debt service of the latin countries and help ease protectionist pressures in the industrial countries
that would be little changed from the performance expected this year
he said a new development strategy fuller use of oil deposits and better housing and pay for oilmen had allowed an upsurge in the oil industry after three years of stagnation which began in late 1983
under the new budget georgia power said its share amounts to 387 billion dlrs
the new sec move would also allow those foreign government debt securities to be marketed in the united states by countries other than those that issued the securities the officials said
the contract period runs from april one through july one the doe said
indonesia expects the recent years rise in its debt service ratio to peak at the current level of 41 pct development supervision minister ali wardhana told journalists
it said it was obliged to produce the feasibility study no later than december 31 this year by which time it would have spent three mln dlrs on big bell
uae trade current account surpluses narrow
shr profit four cts vs loss two cts net profit 247970 vs loss 57341 revs 2393622 vs 2627612 avg shrs 5958432 vs 2440100 year shr profit 71 cts vs loss 35 cts net profit 3213310 vs loss 849180 revs 146 mln vs 9099767 avg shrs 6177666 vs 2440083 note 1986 4th qtr and yr net includes a loss of 85000 dlrs and a gain of 250000 dlrs respecitvely for extraordinary item
members finance the stock through a 45 dlrs a tonne levy on all cocoa they trade
he said this may conflict with bundesbank aims to move more funds from relatively short term deposits to longer dated securities to reduce strong growth in its central bank money supply aggregate
ariadne unit confirms bid for san miguel
i think that there has been a falling off in the market so i think there is a moderate slow down in the price now zimmerman said at a media briefing
the queensland press ltd qpl board said it unanimously recommended the one billion dlr takeover bid by cruden investments pty ltd a family company of news corp ltd ncpas chief executive rupert murdoch
48 pct owned by dome petroleum ltd dmp
altex said it expects to close the transaction which is subject to financing in july
if the rights become exercisable the company said those held by shareholders other than the owner of 30 pct or more of the stock will entitle the holder to purchase a number of common shares having a market value twice the rights exercise price
he said japanese negotiators last week told us officials they were honoring the pact but yeutter said it would take time to monitor any compliance
one person was killed
mepc plc mepcl said that its offer for oldham estates ltd would remain open until further notice
in remarks before the afternoon session of the international monetary funds interim committee baker said he was not suggesting that the system should be abandoned
eurodollar volume reached a record 78546 contracts last month against 70306 in september
the notes offered in us capital markets by salomon brothers inc are due april 14 1989 and are for settlement april 14 with the first interest payment being made oct 14
us factories mines and utilities operated at 798 pct of capacity in february compared with a revised 796 pct in january and december the federal reserve board said
a company spokesman would not comment on the total order value but said the new vessel would replace the 33333 dwt sydney express in 1989 and would carry 2700 container units
dow dow to offer 130 mln dlrs in swiss notes
further escalation of the war threatening the gulf arab states could work against tehran at the amman gathering they said
giorgio will be operated as a separate subsidiary avon said and would not compete with avons direct selling beauty products business
so far only 21000 tonnes of second hand cocoa have been taken up for buffer stock purposes and this traders noted only on an intermittent basis
stable interest rates and a growing economy are expected to provide favorable conditions for further growth in 1987 president brian omalley told shareholders at the annual meeting
of those paying higher prices now the average increase was put at 25 pct
anacomp inc said it finalized the financing of its 128 mln dlrs purchase of datagraphix inc from general dynamics corp gd the financing arranged by drexel burnham lambert consists of 90 mln dlrs of bank financing the private placement of 71 mln dlrs of senior subordinated notes and 25 mln dlrs of convertible preferred stock it said
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
gillette gs seen object of global bidding war
but t
shattner said sands affiliate in detroit st systems inc is developing software that lets large maniframe computers handle large databases and share them between applications
chancellor of the exchequer nigel lawson presenting his budget for fiscal 1987 88 to parliament said uk economic growth was forecast at three pct in calendar 1987
iowa beef lifts lockout at dakota city
bank of zambia general manager michael mwape has accused the international monetary fund of ignoring social conditions when drawing up its economic reform programmes for african countries
cheyenne software chey in acquisition talks
it also has interests in non residential construction
atlantic richfield co considering a spin off of a 20 pct interest in its chemical operations could gain about 500 mln dlrs from the deal industry analysts estimated
the remaining 500 billion yen will yield 38990 pct in a 31 day repurchase pact maturing on may 2 they said
however seidman attending the american bankers association convention said he did not expect rates to rise much higher and said the outlook for the us economy and for banking was sound
first marathon inc said it planned a two for one stock split to be effective on shareholders approval at the june 4 annual meeting
of the 1500 billion lire of 12 month paper offered operators requested and were assigned 911975 billion lire at a net annualized compound rate of 902 pct
atico financial corp said it has executed a definitive agreement to acquire 935 pct of intercontinental bank of dade county fla from intercontinental bank holding co for an undisclosed amount of cash and common stock
coupon cut on keihanshin real estate warrant bond
the government has already said it will announce further deregulation measures but has given no timetable
japan march bond coupon seen unchanged at five pct
today it reported nine month earnings of 149 mln dlrs down from 159 mln dlrs a year before
baker told a senate appropriations subcommittee on foreign operations as a policy matter we oppose loans for production of commodities in oversupply the senators cited a 350 mln dlr world bank loan made to argentina last year to help it increase its agricultural exports by one billion dlrs a year by 1989
atari corp said it has canceled a planned 75 mln dlr domestic offering of convertible subordinated debentures in favor of an overseas offering
the finance minister said the oil revenue projection is based on an average price of 1635 dlrs per barrel in 1988
the companies entered into a merger agreement on january 27 and made their initial findings with the department of justice and the federal trade commission on february three
the official forecasting agency centraal planbureau cpb publishes its 1987 outlook at the start of a week which will also see a key parliamentary debate on government finances and the economy
soviet imports of soymeal may reach or exceed one mln tonnes between january and september this year the oil world newsletter said
officials say the infant exchange has made a good start although trading in coffee has been disappointing
ntpcs second bond issue at the end of 1986 raised 451 billion rupees against 12 billion originally permitted by the finance ministry
it said the transaction is subject to a definitive agreement shareholder and regulatory approval
little movement on hamburg fishmeal market
accruals of borrowings under the exchange cover scheme were 36 mln dlrs last month after 163 mln in january while repayments were 16 mln dlrs after the previous 151 mln a treasury spokesman said
australian unions and nsw government reach deal
wheat growth was halted by cold weather and rain early in the week prevented fertilizer application and weed spraying
we do not view berisford as providing the long term stability we want the trade and industry secretary accepted a recommendation last week by the mmc that it block a bid by tate and lyle for s and w berisford plc and stop gruppo ferruzzi buying a majority of british sugar owned by berisford
volckers expertise will be all the more sorely missed because international monetary fund managing director michel camdessus is new to his job and barber conable is finding it hard to make a mark as world bank president bankers said
bankers said the diplomatic phrase belied the deep anger and frustration on the committee over brazils unilateral move last friday and its subsequent freeze on some 15 billion dlrs of short term trade and interbank lines
in the end the compromise saved face for the banks
we dont see that there is going to be any difficulty in maintaining the 18 dlr price throughout the rest of the year lukman said
british sugar sowings off to slow start
this could happen if the federal deposit insurance corp sells enough shares of continentals common stock over the next two years to cause a change in ownership it noted
last years consumption was around 700000 tonnes
it was followed by a similar move by chase manhattan some days later
us 70 mln in two year fixed rate notes priced at par and bearing interest at 14 pct per annum
royal gold and silver corp 1st qtr net
lawsons comments followed another frantic day in londons financial center where british shares closed 122 pct down on the day
current year net both periods excludes 15000 dlr tax loss carryforward
pentland industries plc said it report a substantial capital gain from the sale of part of its holdings in reebok international limited which will cut its stake in reebok to 322 pct from 367 pct
the first 23 members have been elected to the joint traded options facility of the london commodity exchange lce and the international petroleum exchange ipe the exchanges said in a statement
corrected miami brazil bank committee will transmit request for 60 day credit extension
the rescheduling accord covers some 90 pct of venezuelas commercial bank debt which accounts for more than 90 pct of the total public sector external debt
canada rules us corn injuring canadian farmers upholds duty
the cushion of reserves allowed peru to take a hard line debt stance last year and suspend most payments due on its 143 billion dlr foreign debt
landes has requested the company to implement a program to maximize shareholder values which might include a sale of all or part of the company or a liquidation he said in a filing with the securities and exchange commission
wolverine world wide inc www 4th qtr loss
uk average gdp rises preliminary 26 pct in 1986 up 07 pct in 4th qtr official
ctc dealer holdings ltd said it extended its previously announced offer for 49 pct of canadian tire corp ltd to midnight on march 26
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
were under no illusions about the legal binding force of these recommendations he said
both loans are for 15 years including three years of grace with a variable interest rate currently 792 per cent which is linked to the banks cost of borrowing funds
analysts said the offer was between 10 and 20 dlrs per share too low
new process co said it declared a quarterly dividend of 12 1 2 cts the regular dividend it pays during the first three quarters of the year
sun state savings sssl sees higher earings
national self also said it and southmark plan a two year 100 facility expansion program in south florida and across the country
funaro and gros last week visited washington as part of their trip to enlist support from governments for its attempts to change the means by which developing countries finance growth
st
in what was the first prime rate boost since mid 1984 most banks in early april lifted their rates a quarter point to 7 3 4 pct citing a reduced gap between the prime and their own cost of money
british officials stress the need for commodity pacts to be a two way partnership in trade rather than a disguise for aid
signet banking corp regular dividend
market sources said attention would now switch to monitoring the fortunes of the ruling conservative party in opinion polls ahead of a widely anticipated general election
the ec in 1962 ruled all ec oilseed imports duty free in an effort to fill its oilseed needs
jefferies and co said it is making a market in the stock of cyclops corp at 92 1 2 to 95
basic american bami note issue canceled
jerry ballan analyst with conner ballan division of edward viner and co said they dart has been rumored to be buying some other supermarkets as well such as stop and shop my guess is that supermarkets general does not want to be bought out said ballan
oper shr profit eight cts vs loss eight cts oper net profit 604996 vs loss 615345 sales 184 mln vs 178 mln note net excludes losses from discontinued operations of 156098 dlrs vs 732924 dlrs
he was commenting on a report which said corenes pora had hit seven pct of sri lankas plantations and may cause output to drop below its 1987 target of 143000 tonnes
this weeks quebec government auction of 85 mln dlrs worth of 91 day treasury bills yielded an average 703 pct up from 685 pct last week a finance department spokesman said
the stock has fallen 2 1 4 to 56 1 8 so far today after the news about the suit was released this morning
qtrly div five cts vs five cts prior pay april 27 record april 20
reserves were reported to have dropped below four billion dlrs
partly offsetting these outflows a fall in note circulation and exchequer transactions will add some 45 mln stg and 25 mln stg to the system respectively
they stress however that any action must be taken by the ec as a whole to stop beggar my neighbour action
this scenario put japans gnp growth at 35 pct a year
income from continuing operations was not immediately availalbe for the prior years second quarter in which it reported a net loss of 149 mln dlrs
traders said the buffer stock purchases could reach 75000 tonnes fairly quickly once buying starts
but interest rates are still much higher than in our competitor countries and british manufacturers will still have to work hard to win new business both in overseas markets and in the substitution of british made goods for imports here at home he said
the company named donaldson lufkin and jenrette securities corp as lead manager of the offering
in contrast the bank of america deal was the first public offering of credit card receivables because we used a grantor trust vehicle he said
the farmers home administration the us agriculture departments farm lending arm could lose about seven billion dlrs in outstanding principal on its severely delinquent borrowers or about one fourth of its farm loan portfolio the general accounting office gao said
darman who has worked alongside baker for six years was widely credited with helping him mastermind initiatives on currency management and international economic cooperation
ecuador crude oil exports stopped for five months
iif executive sees interest rates declining
two hundred people rescued from sinking ferry
one icco delegate describing the producer consumer split said consumer proposals mean buying more cocoa for less and backs the concept of the pact which is meant to support the market where trade buying is not in contrast he said producers seem to want to sell their cocoa to the buffer stock rather than consumers
allegis reported a pretax gain of 806 mln dlrs as a result of that partnership
a country like brazil cannot afford to be permanently closed down one exporter said
however some gst charges not measured in the december 1986 quarter influenced the latest march quarterly figure it said
two of the 10 economists revised rate forecasts up mildly after the dollars fall to 40 year lows versus the yen in past days and news of pending us trade sanctions against japan
paul channon secretary for trade and industry said if congress passed legislation to curb textile imports which would hit ec shipments as well as shipments from major asian textile producers the community would have to retaliate his comments echoed those made yesterday by belgian trade minister herman de croo who said if the bill passed the community would retaliate by imposing taxes on us exports
some people are nervous about what the government will do after the election one banker said
the eia said residual fuel stocks fell 100000 barrels to 381 mln barrels and crude oil stocks in the strategic petroleum reserve spr rose 11 mln barrels to 5200 mln
last year the united states released about 4900 tonnes of tin to two ferroalloy firms
the conservative party and the countrys largest trade union called this week for the debt to be rescheduled following the price drop
california micro camd grumman gq set pact
that offer was rejected by the company
the swiss finance ministry is inviting tenders for a new series of three month money market certificates to raise about 150 mln swiss francs the swiss national bank said
the gabelli group said it sold 216049 gencorp common shares between march 20 and 30 at prices ranging from 10875 to 11475 dlrs a share
it said the price to be paid in the tender and merger could be reduced by any fees and expenses the court may award to counsel for the plaintiffs in the class action suit brought against it in delaware chancery court by ronda inc
hongkong and shanghai banking corp hkbhhk is close to a deal on the sale of a commercial building in hong kongs mongkok business district a bank spokesman said
penn central pc sells uk unit
shr six cts vs 17 cts net 1064000 vs 2676000 revs 1446 mln vs 1294 mln avg shrs 171 mln 161 mln six mths shr 13 cts vs 25 cts net 2167000 vs 4029000 revs 2480 mln vs 2492 mln avg shrs 171 mln vs 161 mln
middle south msu to form new dividend policy
nichols institute lab 1st qtr feb 28 net
a reagan administration official said the paris agreement last month was the main reason markets were calm
an appeal court rejected buitonis claim that the 497 billion lire accord with the state industrial company iri istituto per la ricostruzione industriale was a binding contract
it has been joined as a second main money supply aggregate for 1987 by m 2 which rose a provisional 12 pct in january after falling a confirmed 09 pct in december
the chinese partners are industrial and commercial bank of china fujian branch whose share rose to 235 pct from 15 fujian investment and enterprise corporation 175 pct 15 and xiamen construction and development corporation 10 pct 10 one foreign banker said xiamen international bank faced the same problems as foreign bank branches in trying to compete on unequal terms with state owned banks
the edelman dominion group last week sweetened its hostile tender offer to 77 dlrs a share after burlington agreed to a leveraged buyout by a morgan stanley and co backed group for 76 dlrs a share
nz trading bank deposit growth eases slightly
the arrangement will significantly cut telegraph costs hollinger said
he noted that the chancellor of the exchequer nigel lawson stressed this after the recent paris currencies meeting
ivorian officials have only described this years coffee crop as normal
her favorite is baker international which is involved in a possible merger with hughes tool co
bank economists have forecast the economy will either stagnate or contract slightly in the first quarter
met coil systems corp mets 3rd qtr feb 28 net
another oecf official told japan is likely to approve the loan because it is technically and economically viable if approved the loan would carry a coupon rate of four pct a grace period of seven years matsuya said
saudi output in 1985 had been the lowest since the 1960s
the taiwan dollar which opened at 3424 to the us dollar today has risen about 16 pct against the us unit since september 1985
production of indonesian cocoa beans tripled to 31600 tonnes in calendar 1986 from 10284 tonnes in 1980
we are proposing legislation that would provide for more disclosure would be fairer to all shareholders and would insure that takeovers are properly financed he said
one way trade focused mainly on the fixed periods but short dates also rose dealers said
france had not sold wheat to colombia for several years
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
rowntree mackintosh plc rwntl announced it made a pretax profit of 84 mln stg in the 53 weeks ending january 3 1987 compared with 793 mln stg in the previous year
shr 50 cts vs 47 cts net 2646000 vs 2611000 sale 414 mln vs 387 mln nine mths shr 113 dlrs vs 104 dlrs net 6038000 vs 5545000 sales 1172 mln vs 1084 mln
the agency said february precipitation was above normal over most soybean areas of brazil
and merrills attempts to improve profitability will be constrained by accelerating competition moodys said
qtly div six cts vs six cts prior pay april one record march 23
shr 116 dlrs vs 119 dlrs net 1514 mln vs 1524 mln revs 131 billion vs 117 billion avg shrs 1300 mln vs 1276 mln 12 mths shr 303 dlrs vs 285 dlrs net 3927 mln vs 3530 mln revs 432 billion vs 414 billion avg shrs 1298 mln vs 1239 mln
a company spokesman said the data were provided by economic consultants to usx
galactic said the charge includes 99 mln us dlrs of costs concerning its summitville mine leach pad and 89 mln us dlrs in waste removal costs dyke construction and other mine developments
in a filing with the securities and exchange commission halcyon whose managing partner is alan b
healthvest said it acquired the eastwood hospital medical complex in memphis from healthcare international inc for 50 mln dlrs cash
freddie mac adjusts short term discount rates
aaa rated auto paper was trading about 75 basis points over treasuries when first boston priced the deal one said
ec commission details sugar tender
the bank said later that it was leaving its rate for special assistance funds from its second window unchanged at 16 pct surprising operators who had expected an increase there too
the assaults the most recent launched two months ago have caused an estimated total of 50 mln dlrs in damage
parent company turnover in the fourth quarter fell 71 pct to 369 billion marks with domestic turnover 41 pct lower and foreign turnover 86 pct lower
for the first five months of 1987 the overall balance of payments showed a surplus of 299 billion lire against a deficit of 2854 billion in the corresponding 1986 period
the index also showed that natural gas and electricity were unchanged last month but down 35 pct from the february 1986 figure the department said
he also declined to say whether the investment would be made by time inc or american television and communications corp a public company in which time owns a majority stake
channon made his remarks at a news conference after two days of talks with reagan administration officials and members of congress
bankamerica bac to sell german banking unit
restrictions on buffer stock purchases of non member cocoa might lead to a supply overhang in malaysian cocoa which would depress prices they added
datagraphix a manufacturer of microgrpahics equipment has been merged into anacomp and will be operated as a separate division anacomp said
maxtor corp mxtro buys private firm
finlands kansallis osake pankki said in a statement it is issuing 100 mln dlrs subordinated bonds due 1994 with equity warrants in international markets with maximum interest rate of 4 5 8 pct
but they acknowledged that caracas which was also told that the mexico spread was inviolate is quite likely to demand a lower spread
net 128 mln vs 122 mln loans 28 billion vs 25 billion deposits 32 billion vs 29 billion assets 45 billion vs 38 billion note american national corp is a wholly owned subsidiary of first chicago corp
he made no explicit reference to the latest us military action in the gulf
novar electronics corp said it expects improved earnings this year due to a rapid expansion of its logic one computerized buolding management system customer base and expectations of good crime deterrent business
solters said to be travelling was not immediately available for comment
houston oil ho reserves study completed
the company said the lighter weight would allow smaller powertrains and suspensions further reducing weight and improving fuel economy
if the loan is approved over us objections the united states would not increase or replenish funds for that institution until it agrees to stop making such loans
the gte deal is ubss first this year and the fourth since it won a competitive bidding in june 1986
but proponents of an expanded 0 92 argue that the bill currently is not equitable for all grains producers so it should be extended to other crops
during ramadan moslems fast during the day and have large meals after sunset
the bank has also agreed with banco portugues do atlantico a state owned merchant bank in oporto to exchange information on customers and help accelerate japanese investment and technological transfers to portugal he said
the company also faces some opposition to a 225 mln dlr rate hike requested for 1986
the second party anticipates executing a letter of intent when it delivers its financing commitment to the pay n pak board that would incorporate an expense reinbursement and option arrangement the company said
international lpg prices steady in quiet market
knowing that its next crop is fairly large brazil will kind of want to test the resolve of other producers and consumers said one us official
our government projections of eight pct gnp growth five billion dlrs of current account surplus and 12 pct growth in exports all seemed to be reasonable early this year
they said saudi arabia was allowing production to fluctuate with lifting nominations and was not trying to maintain artificially high levels by putting oil into storage
payment date is april 15
a bank statement said agriculture set as the main growth area in a five year economic recovery program adopted in 1985 by african states received 607 mln dlrs 37 pct of the total
he gave no trade forecast for 1987
shr loss 28 cts vs profit seven cts net loss 931000 vs profit 7000 revs 23 mln vs 20 mln nine mths shr loss 55 cts vs profit seven cts net loss 1619000 vs profit 185000 revs 77 mln vs 71 mln note shr figures adjusted for issue of 600000 shares in october 1986
unit loss one ct net loss 186000 revs 107 mln 11 mths unit loss 726 dlrs net loss 1214 mln revs 469 mln note partnership formed in february 1986
wed sell it to the highest bidder miller said
usx corp said its uss division has available a comprehensive sheet steel selection and pricing system detailing the companys full line of products
shr 138 dlrs vs 124 dlrs net 213000000 vs 195000000 revs 337 billion vs 312 billion avg shrs 153000000 vs 156000000 year shr 244 dlrs vs 220 dlrs net 381000000 vs 347000000 revs 1038 billion vs 954 billion avg shrs 154800000 vs 156000000 note 1985 period ended feb 1 1986 share data restated for common stock split of july 21 1986 1986 and 1985 earnings reflect a charge of one ct a share resulting from use of the lfio method of inventory valuation 4th qtr 1986 earnings include pretax capital gain of 712 mln dlrs or 30 cts a share from sale of joseph horne co division in pittsburgh note 4th qtr 1986 earnings include a 62 mln dlr or 20 cts a share pretax charge for costs associated with combining may d and f and the denver operating divisions 4th qtr 1986 earnings include a pretax charge of 26 mln dlrs or nine cts a share for costs associated with several debt repurchase transactions including retirement of 10 mln dlrs of 11 7 8 pct debentures
kinder care kndr sees higher earnings in 1987
ramada inc ram files for note offering
most economists had expected a less aggressive injection of reserves via customer repurchase agreements
the commonwealth bank of australias 16 pct australian dlr 101 pct bond issue of yesterday has been raised to a total of 125 mln australian dlrs from 100 mln lead manager swiss bank corp international said
unidentified jets raided three iranian oil rigs in the southern gulf on monday setting at least one of them ablaze regional shipping sources said
pope and talbot inc is raising 40 mln dlrs via an offering of convertible subordinated debentures due 2012 with a six pct coupon and par pricing said sole manager bear stearns and co
united cities gas co said it placed privately on march 18 20 mln dlrs of 869 pct first mortgage bonds
we will discuss the market situation then he added
karmila said that in the short term k o p did not need additional capital funds but the issue gives us access to attractive funds
on march 16 it had 109244315 shares oustanding
commerce then will process the anti dumping order and transmit it to us customs which will liquidate bond entries dating from commerces preliminary ruling and begin assessing duties vastagh said
we want to maintain our production in the yates field during these difficult times roderick added
turnover and net profit in 1986 were hit by the dollar which fell to an average 246 guilders from 335 in 1985
under current law the basic support prices for upland cotton rice and soybeans between 1987 and 1990 cannot be cut below 50 cents per lb 650 dlrs per hundredweight and 450 dlrs per bushel respectively
diagnostic products dpcz sees earnings growth
ltv corp said a credit agreement between the company and its 22 member bank group has been approved by the us bankruptcy court for the southern district of new york
several steel firms have announced plans to reduce their workforces citing weak prices and lower exports due to the strength of the mark and tough foreign competition
unicoa to merge into its united insurance unit
in a filing with the securities and exchange commission the kaufman and board group which includes sun life group said it sold 325000 quaker state common shares between feb 27 and march 23 at prices ranging from 2800 to 3100 dlrs each
in 1986 the three businesses made pre tax profit of around 25 mln stg on sales of 39 mln stg
the company said this could bring earnings for 1987 below columbias stated goal of earning no less than its 318 dlrs per share dividend it earned 212 dlrs a share in 1986
the loan to be signed by the end of the month will be provided by a number of banks on a club basis
the difficult market for sections and flats of quality steel depressed order tonnages by around seven pct krupp said
the sale of the profitable discount brokerage firm back to charles schwab was aimed at raising capital and was seen by banking analysts as a means of heading off a hostile takeover attempt by first interstate bancorp i
the rigid plastics are used in such things as telephones computer terminals and appliances
qtly cash distribution 60 cts vs 60 cts prior pay may 15 record april 30 note full name is freeport mcmoran resources partners lp
intel corp intc offering of 75 mln dlrs of senior subordinated notes due 1994 and offering of 15 mln shares of convertible cumulative exchangeable class b preferred stock series c both through merrill lynch capital markets
there is no consensus so far among industrial countries on an agreement providing debt relief for the worlds poorest nations a senior us treasury official said
shr profit one ct vs loss 27 cts net profit 22000 vs loss 763000 revs 161000 vs 316000 note prior year net includes 1209000 dlr writedown of oil properites and 314000 dlr tax credit
the recent attempt by jacobs suchard ag jaczz to take over hero conserven lenzburg herzz had shown the limits of a 1961 pledge by the banks not to sell registered shares to someone who was not eligible according to the companys statutes
amcor will acquire radas nzfp stake to add to its existing 11 pct and will seek statutory approval to increase its holding to 50 pct
outokumpu will acquire 21 pct of the shares in the spanish company and a company will be set up as an agent for outokumpu spain
the february figure represents a decline of 02 pct compared with february 1986 after a year on year decline in january 1987 of 17 pct
shr 18 cts vs 15 cts net 33 mln vs 25 mln revs 452 mln vs 268 mln note1986 net includes seven cts or 12 mln dlrs tax loss carryforward
no barges traded today on the st louis merchants exchange call session versus 29 yesterday
no date has yet been set for the auction
the actual increase reflected teacher pay settlements and industrial action in the transport and communications sectors in january 1987
tracomin estimated export availability from the 1986 crop at 215000 tonnes compared with 264000 the previous year
the plan is expected to purchase from rexham a new convertible preferred stock with 115 pct of rexhams voting power with proceeds of a pension plan overfunding and borrowings
davis water dwws releases pre split earnings
waste management said it has received proxies from holders of 496 pct of modulaires common stock that could be voted in favor of the merger
la roche said he may buy more and possible all neco shares
in addition to the amendments on eep the committee approved several proposals which could restrict imports of lamb casein sugar containing products and tobacco
of this total exports to non ec countries totalled 376 mln tonnes 34 pct down on 570 mln and exports to ec nations 445 mln tonnes 211 pct down on a previous 564 mln
shr 105 dlrs vs 27 cts net 4193000 vs 1070000 revs 9377000 vs 9444000 note 1986 net includes gain two mln dlrs from reduction of loss allowance on undeveloped land
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
german banks seek greater brazil link with imf
the reagan administration wants to encourage expanded trade with the soviet union but does not believe moscow yet warrants most favored nation treatment deputy secretary of state john whitehead said
the company said about 15 mln dlrs of the proceeds will be used to pay debt and the balance for general corporate purposes
harkin made the following claims in testimony on his family farm act the mandatory control bill would increase farm income and reduce government spending on agriculture
yugoslav retail prices up 70 pct in march
swett who was finance minister of ecuador between august 1984 to june 1986 added with the private foreign banks there has been a ceasing of payments by ecuador
4th qtr jan 31 shr five cts vs 28 cts net 2448000 vs 133 mln revs 1561 mln vs 2255 mln avg shrs 473 mln vs 478 mln year shr 18 cts vs 101 dlrs net 8430000 vs 482 mln revs 5879 mln vs 8439 mln avg shrs 474 mln vs 479 mln
the us jobless rate in february and january was 67 pct the lowest rate since march 1980
the adss will be valued at the average of their closing prices in the 10 trading days before the effective date of the merger
offered on wednesday the 100 mln dlr issue had three price levels to attract a wide range of retail investors and small regional institutions said officers of pw korth and co inc and painewebber inc which shared bookrunning duties
the federal reserve is expected to enter the government securities market to supply reserves to the banking system via system repurchase agreements economists said
trade and industry department officials also declined immediate comment
100 21 francs per 50 franc nominal participation certificate vs 20 group turnover 836 billion francs vs
henry sweetbaum is chairman and chief executive of both cityquest and wickes and it was intended that cityquests name would be changed to wickes in due course
reports of the us japanese intervention operation and talk of an upcoming meeting of the major industrial countries encouraged expectations for broader cooperation on exchange rate and economic policy matters the fed said
first bank system said it has agreeed to sell its first bank lewiston subsidiary of lewiston mont to two local bankers for undisclosed terms
comalco said the aluminium industry continued to suffer from low prices and excess capacity though the weak australian dollar had helped earnings
president reagan imposed 300 mln dlrs in sanctions on japanese goods last april for its failure to honor a 1986 agreement to end dumping semiconductors in the us and third country markets and to open its home market to us goods
the 1390 per barrel price for 1986 was 101 dlrs higher than the figure originally announced by the central bank
the bundesbank could therefore act on these if it wanted a diplomatic gesture before next weeks venice summit
news corp ltd to acquire harper and row publishers inc for 65 dlrs share
production prices the basis for setting intervention prices have been falling because of declining compound feed prices due to low coarse grain import prices they said
paemen a belgian official who had previously been chief aide to former external affairs commissioner etienne davignon has been in his post since january 1985
supply from non opec countries totalled 28 mln bpd against 285 mln bpd in the fourth quarter 1986
usda lifts cross compliance for 1987 crop oats repeat from late friday washington feb 27 the usda said it is lifting the limited cross compliance requirement for 1987 crop oats
manor care inc mnr 3rd qtr feb 28 net
shr loss eight cts vs loss 24 cts net loss 1150000 vs loss 3450000 revs 557 mln vs 781 mln
dairy farm international holdings ltd said in a statement it is making a tender offer for 22 pct of kwik save discount group plc kwikl of britain for a total 1466 mln stg
denominations are 1000 and 5000 dlrs
westinghouse electric corp wx said it is still open to a merger of its radio operations with general electrics cos ge nbc radio operations
oakwood homes corp said it filed with the securities and exchange commission a registration statement covering a 25 mln dlr issue of convertible subordinated debentures due 2012
the campaign of lightning strikes in the ports general cargo sector began on january 19 in protest at employers plans for 800 redundancies from the sectors 4000 strong workforce by 1990 starting with 350 this year
the average dealer had 17 employees and sold 738000 dlrs worth of vehicles according to the national automobile dealers association
terms of the acquisition were mot disclosed
industrial production will grow by 16 pct in 1987 and 12 pct in 1988 compared with 42 pct in 1986
establishing lower levels of infestations
economies of scale from the expansion should pay back net expansion cost in less than one year westmin said
canada january trade surplus 533 mln dlrs after december 965 mln dlrs surplus
it said warrants issued to the underwriter in its initial public offering were exercised in march for an aggregate of 169200 dlrs
american international petroleum to buy assets
however he added a scandal at volkswagen ag vowgf vw over currency losses has nothing to do with the timing of the veba sale
csce alters rules on trading limits
the pay date is april 29
i would expect the efforts for a further tax reform would mean government borrowing will increase the manager said
rains in the middle of last week reached an average of 27 millimetres in parts of buenos aires province 83 mm in cordoba 41 in santa fe 50 in entre rios and misiones 95 in corrientes eight in chaco and 35 in formosa
the company said it anticipates full distribution to the creditors during march
chrysler will also make a further payment to renault of up to 350 mln dlrs depending on amerian motors future performance scranton said
s and p cited the firms tender offer to acquire conrac corp cax for 1525 mln dlrs
the closing is scheduled to be concluded by march 31 it said
in the 1960s we had 16 mln hectares of commercial forest now we have one mln
oilseed processing at the mill has been at a standstill since december 19 and the company has declared force majeure for deliveries of soymeal and soyoil ahead to may
most of the workforce reduction is expected to be completed by april 30
the government really stood up for the semiconductor industry said johnson of lf rothschild
compact video inc cvsio year loss
speaking to reporters prior to testifying at a house agriculture committee hearing yeutter said it is difficult to comprehend that a trade decision affecting only 300 mln dlrs in goods caused the stock market collapse yesterday
bayer said parent company volume sales were also higher in 1986 although turnover fell 43 pct to 1677 billion marks
holiday corp hia to redeem two bond issues
prices of longer dated issues ended 1 2 or 5 8 point lower while short dates were 1 8 to 3 8 point easier
turnover 8250 mln vs 7916 mln
the need for urgent reforms is justified by the imbalance and tensions of the world economy the secretary general of the organisation for economic cooperation and development jean claude paye said
it has appeared to traders for some years that the ecs export policy is insufficiently responsive to changing patterns of demand it says
japanese banks are also faced with finding local personnel which is not easy
schlumberger says it terminates pact to sell fairchild semiconductor business to fujitsu
under the terms of the letter nashua said it will acquire all classes of lin stock for 24 mln dlrs
under the acquisition agreement the company said sealy will enter into a cash settlement of its litigation with michigan sealy
honeywell said it expects to be honeywell bulls largest customer purchasing computers for its own internal data processing for integration into honeywell buidling and industrial automation systems and for resale to the us governement
the corpus christi refinery has a capacity of about 160000 barrels per day the union pacific spokesman said and is a largely upgraded facility but he would place no value on the transaction
i was sent to deliver a clear message to the japanese government and i delivered it very clearly and it has been clearly understood howard said that under the financial services act the govenment had considerable flexibility in taking sanctions against japanese companies and finance houses operating in britain
china hong kong firms signs loan agreement
brazil grain harvest faces storage problems
trc runs a rail network linking dar es salaam and the northern port of tanga with the coffee growing area around mount kilimanjaro and ports on lake victoria and lake tanganyika
the potetnital acquisition of half champlins corpus christi plant will also give venezuela an additional outlet for its crude oil production while giving the refiner an assured source of supply trade sources said
any investors not buying to their full limit would run the risk of having that limit reduced next year he explained
spectra physics also said it filed suit against ciba geigy yesterday in us district court in wilmington del charging it with making a takeover bid that was false and misleading in violation of securities law and with violating the intent of july 9 1985 standstill agreement
subsidiary fixed income securities
besides benjamin and vazquez rana the other presidents have been luis nogales a california businessman who helped steer the agency through bankruptcy proceedings and maxwell mccrohon former editor and managing editor of the chicago tribune
southmark also said it has become the managing partner of berg harmon associates
qtly div 11 cts vs 11 cts prior pay may 15 record may one
agriculture under secretary daniel amstutz and gao senior associate director brian crowley are set to testify before the senate agriculture committee tomorrow
the federal reserve is buying one billion dlrs of treasury bills for customer account for delivery today a spokesman for the bank said
he said an export credit of 250 mln dlrs had been provided for the export of engineering goods to selected third world countries on soft credit terms
britain calls on japan to increase imports
a 50 pct cut in the import tariff for soybeans should help boost 1987 us soybean exports to taiwan a spokesman for the joint committee of soybean importers told 
gordex minerals locates gold deposits
securities lawyers and industry officials acquainted with ruder say the new chairman designate is unlikely to significantly alter the commissions current priorities
another factor which could affect the 0 92 debate is the approach of planting season congressional sources said
a lot of people are looking for a reason to buy currencies and sell the dollar said one trader for a large retail firm on the floor of the imm
but barring substantialy increased instabilities in developing countries bankamerica said it continues to anticipate an operating profit in 1987
shr 12 cts vs 12 cts net 337000 vs 235000 revs 3350000 vs 1642000 avg shrs 2935734 vs 2000000 year shr 69 cts vs 56 cts net 1815000 vs 1112000 revs 121 mln vs 7709000 avg shrs 2648257 vs 2000000
current interest by soviet charterers in taking panamax vessels on timecharter mainly from the us to carry grain is seen as the chief factor behind the recent surge in values on the baltic international freight futures exchange biffex dealers said
if its not all cleaned up by then i dont know what will happen
it said approval is also needed for an increase in authorized shares of preferred stock from one million to five million
an accord is in sight in brazils 20 day old national seamens strike which has seriously delayed exports a union official said
some reports are going to look bad and some good but first quarter gnp is going to grow in the middle at about three pct a 287000 gain in services employment comprised the greater part of februarys employment gain
the company said on completion of the merger the combined company wopuld be known as power cell inc and be engaged in the development of balzac technology related to its quick charge product for charging auto batteries
they the stockpiles stand to gain the most by being managed properly said the staffer
when we talk business we would seek profitability and sometimes forget vulnerability of high dependence on a single supplier said one
the deficit compared with a shortfall of 73 billion riyals in the last published budget for 1985 86
shr 51 cts vs not given net 4661000 vs 2499000 note net includes securities gains of 663000 dlrs vs 1173000 dlrs
union bank of switzerland nv is issuing a 15 billion yen eurobond due june 1 1992 paying 4 3 8 pct and priced at 101 3 8 pct lead manager union bank of switzerland securities ltd said
analysts agreed with cme floor traders and called the belly figure neutral to slightly negative
the deal guaranteed by midland bank plc will pay interest based on rates of french 13 week treasury bills plus 55 basis points in the first five years and plus 65 points for the rest
union carbide uk sells notes yielding 990 pct
tennant co tanto 3rd qtr net
when mr
dieter said west german producers would see a downturn in foreign business because of lower energy prices and the higher mark as well as a deterioration of the economies of customer nations
but operators find it hard to push the dollar either way for fear of possible concerted central bank intervention
ibm ibm has higher shipments costs in qtr
also the financing mechanisms had to be discussed because we cant stay as we were the last few years im trying to put the problem on the table all of us would like to have a kind of equilibrium he said
within this sector the output of both basic products and of food tobacco and alcohol fell 1 1 2 pct
the commission will propose to offer the sugar at a very nominal premium of 001 european currency unit ecu to the intervention price with detrimental consequences for producers returns czarnikow says
the light louisiana sweet south onshore grade was also raised 50 cts to 1785 dlrs a barrel and light louisiana sweet north was increased to 1775 dlrs a barrel
winterhalter wntlc holders okay takeover
some add the bank will be influenced by signs that at least a proportion of the latest bout of sterling buying is long term capital coming into the london market notably from japan
year to date domestic crude output was estimated at 841 mln bpd off 77 pct from 911 mln a year ago while gross crude imports averaged 396 mln bpd up 281 pct from 309 mln it said
the firms are planning a joint venture production of memory chips in sendai northern japan
tranche b which matures september 15 1992 is payable april 15
rather than being a self contained specialised group of dealers who spend all their time searching for prices the definition now appears to be the less formal idea of a multi purpose fund manager it said
the company said it will seek waivers to defer these payments and those due march 31 for enough time to accomplish the proposed sale of its operations
herstatt creditors are seeking 125 mln marks from dattel whom they accuse of causing losses at the bank of over 500 mln marks by manipulating forward foreign exchange contracts
emery said as a result it is renewing its request that purolatr enter into merger negotiations with it
fhlbb changes short term discount note rates
this would compare with a 1986 surplus of 95 billion dlrs
the paper said that only financial organisations and not other firms or individuals could handle such trading
first federal bank ffbno 2nd qtr march 31 net
marine midland banks inc said in a filing with the securities and exchange commission that it may reclassify as nonperforming 359 mln dlrs of medium and long term loans to brazil
nixdorf expands board to include finance director
a company spokesman said it does not expect any adverse impact on earnings from the move
dealers said that federal funds were trading at 6 3 8 pct when the fed began its temporary and direct supply of reserves to the banking system
we have no leverage one official admitted
finance minister dilson funaro currently on a global tour to seek governmental support for his efforts to solve brazils 108 billion dlrs foreign debt crisis said creditors have expressed willingness to help
gull inc gll 3rd qtr feb 28 nt
bristol and west building society issues cds
atcor inc said the magnitude of any earnings recovery in fiscal 1987 depends on the direction of steel pricing and how fast the companys severe operating problems in its consumer segment are resolved
they were also uncertain whether the fed intervened on its own account or if it executed orders for the bank of japan
the fnv spokesman said the action did not yet have official backing but added that next week matters might be different
the atpc consists of malaysia indonesia thailand bolivia australia nigeria and zaire
but business leaders and economic analysts say there are growing signs that brazils economy the eighth biggest in the non communist world is heading for a downturn after 8 pct growth last year
allegheny intl ag sells three overseas units
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
mony financial buys united administrators uai 
a chemlawn spokesman said further details on the merger would be issued later
a key us senate committee commerce secretary malcolm baldrige and trade representative clayton yeutter have also expressed opposition to the merger he said
each noted in separate speeches that they saw no trade war over the issue despite concerns in financial markets
us credit market outlook spending m 1
marine midland mm sells capital notes
it said the debt was part of a 3390 billion franc liability incurred through the activation of emcf swap facilities to defend the franc before the january 11 european monetary system realignment
wellington harbour board workers union secretary ross wilson told reporters talks late yesterday ended with agreement to take unresolved issues before an industrial conciliator
bank financing was a particular feature of the failed itc buffer stock which suffered losses running into hundreds of millions of sterling
credit lyonnais is issuing a 19 billion yen zero coupon eurobond due april 15 1992 priced at 8122 pct lead manager nomura international ltd said
century business credit corp cty 4th qtr
argentina for instance is offering banks a 3 8 pct participation fee if they sign up for the deal within 30 days declining to 1 8 pct if banks commit within 60 days which boosts the all in interest rate it is paying on the package
pacific lighting copr plt quarterly dividend
it said it might buy additional cooper lasersonics common shares but said it does not plan to boost its stake above 10 pct of the total outstanding
the us economy which is in its fifth year of expansion has served as a mainstay for developing country exports but it too is seen as being rather feeble this year growing by only 23 pct according to the imf
total natural gas reserves for both units declined to 10010 billion cubic feet in 1986 from 11334 billion cubic feet the previous year
sallie mae to price floating rate notes monday
that doesnt show much understanding of international monetary gamesmanship however some analysts said west germanys stubborn march toward higher interest rates may have forced bakers hand
soviet first deputy prime minister vsevolod murakhovsky said at the end of a brief visit here his country wanted to boost joint business with france but that a reduction of frances trade deficit with the soviet union depended on the french
shr 26 cts vs 18 cts net 1409551 vs 985470 revs 384 mln vs 225 mln nine mths shr 64 cts vs 47 cts net 3477188 vs 2558625 revs 888 mln vs 639 mln note earnings per share adjusted for 3 for 2 stock split distributed on september 4
note prior quarter and nine mth net reduced by 25 mln dlrs or two cts per share for estimated costs to reduce workforce and consolidate various facilities
trimedyne inc said it will distribute one class b common share of automedix sciences inc for each four trimedyne shares held of record on march nine
south african year on year producer price inflation rose to 161 pct in april against 158 pct in march central statistics office figures show
he said for the year however the company should report a loss of about 50 cts a share compared with earnings of about 35 cts a share a year ago
shr three cts vs one ct net 235000 vs 66000 revs 10 mln vs 8202000 avg shrs 7972000 vs 8545000
in a clear reference recent events he said those in the city who act for companies or individuals must i suggest be ready to accept a full measure of responsibility even if it entails opprobrium for the transactions that may result they should exercise the most careful judgment at the outset with respect to the clients for whom they act and the activities contenplated
the figure was some five mln below forecasts and lucas shares dropped sharply to 5575p at 1130 gmt from last nights close of 590p
devon said that its estimated future net revenues attributable to reserves is about 58 mln dlrs with a present value discounted at 10 pct of 38 mln dlrs
southwestern bell corp said its board voted a three for one stock split and increased the dividend 88 pct to 160 dlrs a share
west german president richard von weizsaecker said both debtor and creditor nations share responsibility for the third worlds foreign debt crisis
the issue has been the subject of administration debate
he hasnt bought any more stock or sold any roderick said
uk retailers see growth in consumer spending
new zealands official foreign reserves fell slightly to 713 billion nz dlrs in february from 715 billion in january but were sharply above 285 billion in february 1986 the reserve bank said in its weekly statistical release
schlueter told journalists after the weekly cabinet meeting it is regrettable that they have taken a plus from us but the change will not have much practical significance he was echoing comments by central bank governor erik hoffmeyer who was quoted by the daily politiken as saying the downgrading would have little effect on denmarks borrowing capability or the interest it paid on loans
the commodity credit corporation ccc accepted a bid for an export bonus to cover the sale of 30000 long tons of barley to israel the us agriculture department said
kurzweil music systems inc kurm 4th qtr loss
south korea has a five billion dlr trade deficit with japan
acknowledging the dollars latest slide was now a fact of life balladur said there may be adjustments of course in one or other currencies this is not a fixed rate system but federal reserve board chairman paul volcker said he might rein in credit if the dollars slide deepens
it said that 64 of bps relationship banks will be joining the facility although their participations will be cut back dramatically
chinas wheat crop threatened by pests disease
cnn also said it reached an agreement with televerket kabel tv of sweden to broadcast 24 hour news on its cable tv network
at 1986 year end brunswicks defense contract backlog stood at 425 mln dlrs
world bank approves 100 mln dlr loan for brazil
moreover danas financial leverage rose to 43 pct from 22 pct in 1984 and may climb even more after completing its ongoing stock repurchase program moodys said
foreign exchange reserves rose 330 billion francs to 3394 billion
a group including members of the sobey family of nova scotia and empire company ltd said it raised its stake in nash finch co to 442498 shares or 86 pct of the total outstanding from 374498 shares or 73 pct
the bank of france said it will offer four billion francs worth of negotiable treasury bills at its next weekly tender on march 30
shr 62 cts vs 52 cts net 1420 mln vs 1230 mln sales 100 billion vs 8650 mln
conservative opposition leader constantine mitsotakis said he had urged papandreou to accept an offer from nato general secretary lord carrington to help resolve the row
market sources have said that although trump attracted attention to the stock the pilots proposal acted as a catalyst kicking off a new round of speculation and perhaps throwing the company into the hands of another buyer
sri lanka will tender overnight for 52500 tonnes of us canadian and or australian wheats for april 8 16 shipment under the export enhancement program if us origin us exporters said
they said the commission has powers to take some limited action before getting ministerial approval to prevent japanese exports of electrical photographic and other goods being diverted to europe following of possible us tariff moves
he said the dollar would not continue to fall because of underlying market concern about the rapid rise of the yen
one dealer said a lot of exposure is being given to discussions and plans appear to be quite advanced
woolworth closed on froday at 833p
the company said hermetronics is expected to have sales of over 800000 dlrs for the year ending this month
the striking price was a partly paid 41 stg pct at which price bids were allotted 538 pct
grain consumption is rising every year
house leaders have rejected a plan by textile state legislators to add to the trade bill a provision to curb imports of cloth and clothing similar to a measure passed two years ago but vetoed by president reagan
currently a farmer to be eligible for corn program benefits must restrict his plantings of other program crops to the acreage base for that crop
vanzetti systems inc said its shareholders approved increasing the number of authorized shares to five mln from three mln
it said it has also filed for proposed service agreements for interruptible and firm transportation service
the governments over reliance on revenue from crude oil is adversely affecting australias economic performance australian petroleum exploration association apea chairman dennis benbow said
the dollar fell below 144 yen today for the first time in 40 years as the group of seven finance ministers in washington failed to convince the foreign exchange market that they have a credible strategy for redressing global trade imbalances short of further depreciation of the dollar
us consumer credit rose 536 million dlrs in jan vs 144 million dec gain
mickelberry said it will report a gain on the transaction
lead prices rise on finely balanced physicals
crude output decreased to 421500 tons from 427000 tons revised higher refined copper deliveries decreased to 359800 tons from 375400 tons revised lower
president nobuo ito of international telecom japan inc itj one of two rival firms seeking to enter japans international telecommunications market said it will offer a stake in the company to 10 foreign firms
its ridiculous to say that somebody is going to buy your product if they can get the same thing at a lower price somewhere else shultz told the farm leaders
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
qtly div 70 cts vs 70 cts prior pay may one record april three
canadian imperial bank of commerce earlier reporting higher net income for the first quarter ended january 31 said it expects loan losses to be lower than last years 6970 mln dlrs
cheung kong chairman sees strong results in 1987
it said holders will receive accrued interest through the redemption date
the company said the purchase is subject to approval of the boards of first southern and victor and regulatory agencies
but s and p said it considers coverage a little weak
the last confirmed iraqi attack was on on march 8 when an iranian tanker was hit by a missile south of irans kharg island oil export terminal
bhp to float gold unit with one for three issue
richardson electronics rell 3rd qtr feb 28 net
hughes tool shareholders approve merger with baker international
and the market is saying the deal wont go through alpert said
remaining proceeds from the stock offering and from a separate offering of 50 mln dlrs of 20 year convertible subordinated debt would be used to repay about 75 mln dlrs of short term senior bank debt of the health chain unit a bally spokesperson said
brodersohn who is negotiating currently with foreign banks for a 215 billion dlr loan for 1987 says argentina will have to grow at a four pct annual rate between now and 1992 simply to restore per capita income to the level of 1975
australias m 3 money supply rise 15 pct in march
the borrower is wholly owned by international business machines corp ibmn
in addition 75 pct owned sienna resources ltd has canadian reserves of 173000 barrels of oil and 16 bcf of natural gas with a current value of 22 mln dlrs orbit said
lawson sees no change in uk monetary policy
the board said it based its decision on two statutory disqualifications
coastal corp said it belives the two billion dlr suit against it by transamerican natural gas corp in texas state court is frivolous and without merit
the sources said this means that any possible adjustment would centre on the reference price and the may buy or may sell and must buy or must sell levels without changing the lower indicative price or floor price of 150 malaysian singapore cents a kilo in the present pact
south koreas index of leading indicators fell 01 pct to 1641 base 1980 in december after a 01 pct rise in november representing a 161 pct year on year gain from december 1985 economic planning board provisional figures show
the company also said 1987 capital and exploration spending of 420 mln dlrs will be 160 mln dlrs lower than last year due to the uncertain short term outlook
meston said current ore reserves at the property total 910000 tons grading 0211 ounces of gold per ton and 03 pct copper but it may be able to develop substantially greater tonnage meston said underground drilling below current developed reserves has intersected the main zone 200 feet below the bottom level with the average grade assayed at 0530 ounce of gold per ton over true width of 17 feet
what is happening is not yet giving way to a pattern and so there is no reason to modify anything in 1985 the latest year for which full figures are available central and south american nations produced 28 mln tonnes raw value of sugar of which 123 mln were exported
hutton said it reserves the right to buy more than 6332471 shares but has no present intention of doing so
the government must announce harsh cuts in spending in its may 14 economic statement if it is to give an adequate response to australias economic problems the anz banking group ltd anzas said
hungary is to grow sugar beet on 105000 hectares of land this year compared with some 95000 in 1986 the official mti news agency said
bank of japan governor satoshi sumita has repeatedly ruled out another rate cut due to fears it could revive inflation
trizec to issue 17125 mln dlrs of new stock
caesars world inc said its board unanimously rejected a 28 dlr a share takeover offer by new york investor martin t
no soluble sales were registered today
ec sugar import levies
pacer systems said it has agreed in principle to acquire the assets of sea data corp a maker of low powered electronic systems including undersea intelligent recording sensors and high density digital data recorders for one mln dlrs
they said japan would participate in an icco meeting on july 13 in london to revise icco buffer stock policy
there is no real goodwill in certain delegations to go to quotas hesse who advises the italian foreign affairs ministry on coffee issues told 
period ended january 31 shr loss five cts vs profit eight cts net loss 247100 vs profit 345300 sales 4529300 vs 3482800 nine mths shr profit six cts vs profit 18 cts net profit 261300 vs profit 793700 sales 123 mln vs 9957200
the strong recovery of the first six months continued into the second half although uk cement demand rose only modestly
period ended may 31 shr 42 cts vs 53 cts net 13600000 vs 17100000 revs 2633 mln vs 2438 mln
bank indonesias quoted rate for the dollar the main currency for indonesias oil and gas exports was 16440 today the same rate fixed at the time of devaluation
economic spotlight japan shipbuilders recovery
banks are not obliged to declare these loans non performing before 90 days have elapsed but the move to announce a possible decision in this respect was viewed as a means of exerting pressure on brazil
negotiators draft details of next rubber pact
overseas owns and operates 67 vessels
the independent research organisation cut its 1987 growth rate forecasts for west germany to 22 pct from 32 pct in december and to 23 pct from three pct for japan
redland held discussions on a possible takeover before the csr bid emerged but the negotiations foundered on the price
its principal subsidiary is tigeral corp
in a filing with the securities and exchange commission general partners said proceeds from the sale of gencorps aerospace division would help it repay some of the debt it would incur in the 100 dlr a share cash tender offer
he said redland wanted to maintain and build on its operations in australia and the us where monier has built up a strong presence notably in roofing tile manufacture
as previously reported the region has been undergoing a severe dry spell partly relieved by scattered rainfall since december following the virtual failure of the summer wet season
the sources said italy which refused to join the paris pact was invited back by treasury secretary james baker
our marketing policy is to sell without haste but consistently
australia today said the united states goals of reducing us barriers to agricultural trade were being contradicted by actions which in fact increased protection in trade in agriculture the australian delegation said in a statement
federal reserve board chairman paul volcker said reducing the federal budget deficit was a more important goal for congress than drafting trade legislation
bil has said it was the mystery bidder behind a recent stand in the market for three mln progressive shares
munro said book publishing is an area that interested time
the bank of finland introduced last december three month credits and deposits at rates determined by the central bank and the commercial banks as a shift away from the traditional overnight call money market
pay date is april 15
affiliated is the parent company of globe newspaper co publisher of the boston globe
some analysts previously speculated a 20 pct stake in shearson might be sold to the public
proceeds of 170 mln dlrs from sale of stock and debt were used to reduce balance of revolving credit agreement to 80 mln dlrs
there is talk the grains floor will shift to the midam and the financials will move to the grains area he said
despite earlier optimistic indications the south african corn crop is at a critical stage in its development and recent reports of heat stress could reduce production and therefore exportable supplies the us agriculture department said
they said maritime unions imposed bans on late wednesday for reasons that are obscure but seem to be linked with claims for a pay rise above the 10 dlrs a week awarded by the arbitration commission nationally to all workers recently
the finance ministry commissioned banks and securities houses agreed in january to lower the eligibility ceiling for companies wanting to issue non collateral straight and convertible bonds from march 1 securities managers said
it said the stock split will occur through a 50 pct stock distribution on hydraulics common stock payable april 30 to stockholders of record on april 3
this brings the total in the two days registrations have been open to 205 mln including 4868 bags of soluble
two major steel companies said they were studying a price increase announced yesterday by usx corps uss steelmaking division
shr five cts vs five cts prior qtr pay april 17 record april 3
he said lawson had made no commitments to support brazils efforts
merrill lynchs position is and has always been that violations of the law are not tolerated the firm said in a prepared statement
bindley western industries inc bind 4th qtr net
qtly div 20 cts vs 20 cts prior pay june 1 record april 16
the hong kong economic journal last month quoted a spokesman of australian stock broker jacksons ltd as saying that barwon farmlands ltd an australian firm owned 30 pct by ariadne australia ltd was planning a filipino branch in order to buy the entire block of 381 mln shares
the sources could give no further details of the options under study
the phlx is also opening an office in hong kong to serve clients in the region and educate financial markets about the advantages of currency options giordano said
the report says indonesias economic growth in calendar 1986 was probably about zero and the economy may even have contracted a bit
the councils study said the trade talks with a deadline of october for an agreement are the biggest issue in us canadian relations
rule was responding to panel chairman howard metzenbaum d ohio who had asked why the department was not acting against what appears to be a clear violation of the law metzenbaum said icahn had failed to file a pre merger notification form with the ftc prior to purchasing more than 15 mln dlrs worth of usair stock
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
canadian narrowly defined money supply m 1 rose 592 mln dlrs to 3336 billion dlrs in week ended march 4 bank of canada said
the country would lose an estimated 800 mln dlrs in crude exports until the pipeline was repaired the president said
and in the year ended this past march the deficit was expected to have been one billion dlrs lower than the 32 billion dlr shortfall originally forecast wilson said
the issue made at par has an initial three year life and the borrower has the right to make extensions up to 1997
franklin puerto rico tax free sets payout
terms of the acquisition were not disclosed
brazil said during a meeting of coffee producers in rio de janeiro over the weekend that it would consider leaving the ico if its export quota was reduced by the organization
rumours that us publisher harcourt brace jovanovich inc hbj might bid for reed a paper and printing company pushed reed shares up 54p at 600p at one stage today before they eased back to 564p at the close against a background of a widespread decline in uk equity prices
first marathon securities ltd financial services analyst michael walsh said royal trusts international growth target is attainable
the al rai al aam newspaper quoted him as saying opec was pumping 24 mln barrels per day bpd less than its 158 mln bpd ceiling while consumers were drawing down their petroleum stocks at a rate of 45 mln bpd
the sources said finance secretary jaime ongpin made the proposal to a 12 bank advisory committee chaired by manufacturers hanover trust co as the talks entered their fourth week in new york
suffield financial corp sfcp raises quarterly
our formula builds flexibility into the system and will benefit almost everyone although full implications of the new formula have still to be worked out initial estimates suggest countries such as colombia kenya indonesia and costa rica would get slightly higher quotas while others such as the ivory coast el salvador and nicaragua would lose quota share van horick said
continental bank canada sets distribution
government securities outstanding fell 424 mln dlrs to 22738 billion dlrs in week ended june 17 treasury bills rose 700 mln dlrs to 7800 billion dlrs and canada savings bonds fell 121 mln dlrs to 4245 billion dlrs
the usfsp is a seven calendar day average of feeder steer prices from 27 states based on auction and direct country sales for feeder steers that weigh between 600 and 800 lbs and are estimated to grade between 60 and 80 pct choice when fed to slaughter weight
the reserve bank of new zealand said there was no evidence to suggest the fall in share prices had affected financial stability and it would maintain its firm monetary policy
not only the us dollar but also other currencies essential to novo fell in 1986 in relation to the danish crown the statement added
shareholders are due to vote april 2 on a shareholders rights plan designed to thwart hostile takeovers
the department said the purchase completes the export enhancement program initiative for dairy cattle to morocco announced on april 16 1986
di giorgio dig to evaluate gabelli offer
bank of new york bk to have gain on unit sale
the australian dollars fall since 1985 also improved the local dollar copper price making the company profitable and justifying the mining of deeper reserves at a copper grade of about 195 pct against about 160 pct now the firm said
western diplomats in rangoon estimate the figure at above 70 pct and say the country can no longer depend on foreign exchange reserves to cover more than a few weeks imports
west german finance minister gerhard stoltenberg said the meeting on monday with us treasury secretary james baker underscored the determination of the us and west germany to continue close cooperation to stabilise foreign exchange rates
iadb dispute highlights latin debt conflicts
integrated said its subsidiary biopharmaceutics is negotiating with the same unnamed distributor to sell it five prescription drugs
only a marginally narrower trade deficit will add to growth
us treasury proposes some s
an aide said stangeland does not want to reopen the farm bill but to be fair to all crops
kodak said there is no specific need at this time
at 13 of the 14 terminals served by both carriers the dot said it found no evidence that other carriers could not increase or begin service that competed with a merged american aircal
but there was a clearly justified need for them
much depends on properties said measor
delta said it feels the court has erred and should reconsider the order
the extent of the adjustment was also modified
protracted low world metal prices have badly hit the copper industry in zambia the worlds fifth biggest producer
the cyprus vessel fearless 31841 tonnes dw which was on fire grounded then towed to yantai china in august had all its cargo reloaded but the cargo in the no
the company said the purchase of american will allow it to meet the needs of a broader range of direct mail industry customers
samjens has made a hostile 77 dlr per share takeover bid for burlington
the average number of working rigs in the us for 1987 is projected at 978 versus 964 in 1986 according to ike kerridge vice president of stockholder relations at hughes tool
us house panel takes first trade bill votes
the 10 pct rise in the minimum wage is recommended by the employers confederation of the philippines ecop the ecop proposal would push the year on year inflation rate to 116 pct in december compared with the predicted 144 pct if the governments recommendation is implemented solita said
if asked to do so again and the program is designed to improve the standard of living of the poor then we would certainly be prepared to consider lending arrivillaga said
the us economy is showing some promising signs of accelerated expansion despite the sluggishness of the fourth quarter last year private economists say
owners of two aluminum smelters in kentucky received temporary relief from higher electric rates after a decision tuesday by state regulators denying a rate hike to big rivers electric corp of henderson ky
sensormatic canada ltd year net
he said the dollar may return to around 152 yen next month when corporations reduce their dollar sales after they close their books for the 1986 87 business year ending on march 31
additionally the companies said the converted association would be managed by a board of directors consisting of the six current virginia federal directors and two representatives of montrose holding
american express officials would not comment beyond a statement made this morning
winley home builders inc said it completed a land purchase agreement with mdc holdings inc mdc for 1090000 dlrs in notes and preferred stock
us thrifts cut liabilities in january
some of the grain is also off the market in futures stores
shearson lehman brothers action against the lmes tin ring out in march 1986 is also scheduled to be heard in the near future
shr loss 79 cts vs profit 30 cts net loss 21 mln dlrs vs profit 675935 dlrs revs 55 mln dlrs vs 91 mln dlrs notethe year ended march 31
the discount rate generally moves in tandem with the three month treasury certificate rate
the company said it plans to invest 25 mln canadian dlrs to expand on site treatment facilities to process 100000 tons of gold bearing deposits this year and 200000 tons in 1988
oil industry analysts said saudi arabia has led the attempt to get other opec members to resist pressures to discount from the official prices agreed to last december
but he told the banks annual news conference this did not mean a cut in leading interest rates rather a reduction in money market rates through bringing the allocation rates down for bundesbank securities repurchase agreements
aegon will pay the holders of unexercised warrants outstanding on july 15 1993 1500 guilders each
in a filing with the securities and exchange commission harris said it sold a net 108666 triad common shares between dec 16 and feb 23 at prices ranging from 1000 to 1425 dlrs a share
hanson industries the us arm of hanson trust plc han said it has proposed to sell in separate transactions kaiser cements northwest terminals and montana city plant to lone star industries inc lce and ash grove cement west inc respectively for a total of 502 mln dlrs
under the agreement the royal dutch shell group unit agreed to pay 20 mln dlrs to settle refiner pricing issues and 160 mln dlrs to settle crude oil pricing issues doe said
she said were worried about a stock price correction of as much as 10 to 15 pct within six or possibly even three months meanwhile wright expects bonds to benefit from a half to one percentage point decline in interest rates by years end
the actions increase the value of credit guarantees for vegetable oil for the current fiscal year to 38 mln dlrs reduce the guarantee coverage for sales of wheat to eight mln dlrs and increase the coverage for sales of mixed poultry feed to 10 mln dlrs
mark iv industries inc said it plans to begin a tender offer at 25 dlrs a share for all outstanding shares of conrac corp cax a stamford conn maker of control instruments and telecommunications products
the white house economic policy council is expected to discuss possible sanctions against japan at a meeting scheduled for thursday
lloyds bank matches base rate cut to 105 pct
japan will not retaliate now against us tariffs
emhart corp said it plans to increase worldwide revenues and earnings at an annual compounded growth rate of 15 pct and about 13 pct respectively
century business credit cpy to make statement
a direct result of the union decision would be the immediate shipment of 9000 tons of rice and wheat from an australian port the government said
he noted that all captial spending will be internally financed
newmont holders will receive 80 pct of magmas stock as a dividend of one share for each of the 30458000 newmont shares now held
the company said it organized in late 1986 and closed its intitial public offering of shares dec 23 1986
but mulroney sharply critical of protectionist sentiment in the us said canada was a fair trader and denied the government was pursuing the deal to win unfair access to the american market
the firms boston based fmr corp and fidelity international ltd a bermuda based investment advisory firm said they bought the stake to acquire an equity interest in the company in pursuit of specified investment objectives the firms said they may increase or decrease their stake in the company but have no plans to seek control of the company or representation on its board
however rather than leaving the expiration date in a range the board decided to set april 3 as the day it will distribute the preferred share purchase rights
cuba has told international sugar operators who have bought its sugar for shipment in march that these contracts will take second place to cubas direct shipments to its export markets dealers here said
he said us cattlemen say there is no reason to change slaughterhouse practices in april if the meat is to be banned a few months later by the hormone rule
company began operating may 1985
payment date is april 8 and the issue matures on the same date in 1993
qtly div nine cts vs eight cts prior payable july one record june 12
debt securities issued by major us banks are under pressure in the secondary market as investors shy away from the paper because of brazils suspension of interest payments last month analysts and traders said
with more private investment not more protection the us textile industry could become competitive with the most modern foreign producers analysts from two congressional agencies said today
goodrich said it will continue to make chemicals and adhesives in akron employing about 356
there were some price declines including a 34 pct fall for passenger cars and 13 pct for light trucks from january levels
shr one ct vs 24 cts net 43000 vs 1032000 revs 10 mln vs 49 mln avg shrs 37 mln vs 43 mln 12 mths shr 102 dlrs vs 162 dlrs net 3950000 vs 7308000 revs 308 mln vs 333 mln avg shrs 39 mln vs 45 mln note 1985 restated to reflect tax loss carryforwards
complete details on the syndicate were not available
on friday taft said it would negotiate with a group led by its vice chairman dudley taft and a rhode island investment firm which had offered 150 dlrs a share for the company
citadel holding corp said it has settled its litigation with great western financial corp
timber realization said the amount retained in that trust will depend on its experience in resolving open items up to the termination date but it added it expects to retain a substantial amount in the trust
the report dated february 26 said there is evidence of delayed germination in most areas due to late seeding last fall because of dry conditions
the us has indicated it is open to dialogue on quotas but that brazil must be flexible rather than refuse to lower its export share as it did in the last negotiations delegates said
perus consumer price index rose 59 pct in may to 157065 base 1979 compared to 66 pct in april and 33 pct in may 1986 the national statistics institute said
the improved trade terms were offered after argentina said that spain and portugals entry into the ec affected their exports of cereals substitutes to these two countries
the current international rubber pact expires on october 22
and investors buy on perceptions said one broker
numac said changes introduced by federal and provincial governments during 1986 should help results
african feb trade surplus 162 billion rand vs jan surplus 9062 mln official
sergeyev said about 600 mln roubles was lost annually in raw material industries by paying wages and bonuses for work which was not in fact performed
shr 36 cts vs 27 cts net 4538000 vs 3160000 sales 418 mln vs 328 mln avg shrs 126 mln vs 119 mln
chase manhattan raises prime rate to 7 3 4 pct from 7 1 2 effective today
meanwhile continued strong marketings during the month will support the april contract
payment date for both non callable tranches is april 6
standard oil said discussions with bp concerning the tender were continuing but provided no further details
merrill lynch mer canada mulls buying broker
the soviets purchased five cargoes of raws for april may shipment towards the end of last month which brings its total purchases to around 165 mln tonnes man said
chase trans info which offers similar services is now the largest provider of information services for the transportation industry
terms were identical to those on the preceding offer
this brought total indian purchases to at least six cargoes with traders having options to sell another four
the gap with korea was 700 mln dlrs up 248 pct from a year ago
the purchase price was about 84 mln dlrs represented by a ten year interest bearing note payable annually at 11 pct to be paid by the trust out of proceeds from the south african operations the company said
that doesnt mean to say we shouldnt be in the us said cornelissen
latin american countries exports fell last year by about 16 pct to 80 billion dlrs with imports declining slightly to around 65 billion dlrs mittendorf said
the attack on the oil platform was the latest example of a us tit for tat policy that gave iran the initiative said harlan ullman an ex career naval officer now with csis
the bundesbank should take further steps to reduce german interest rates to protect the mark from further appreciation and to persuade investors to bring long term yields lower commerzbank ag cbkgf management board chairman walter seipp said
cgcts share of the french switchboard market amounts to around 16 pct
the office said 120 mln dlrs of the 1989 issue 635 mln dlrs of the 1992 issue and 30 mln dlrs of the 1994 issue will be reserved for the federal reserve system for its own or customer accounts
this years budget initially projected a deficit of only 335 billion shillings but in mid year the government had to impose new taxes to keep the deficit roughly on target
in a filing with the securities and exchange commission the group said it holds 2711000 shares of media general commons stock purchased at a total cost of about 1083 mln dlrs
they expect it to supply the reserves indirectly by arranging around 15 of customer repurchase agreements
i would imagine there will be a lot of politicking among producers behind closed doors to work up some kind of proposal by september the next scheduled council meeting bronwyn curtis of landell mills commodities studies said
the reduction follows similar moves from the three other british clearing banks
champion home builders inc said it sold the commerce meadows 600 site manufactured housing rental community in commerce township michigan for a pre tax gain of about 900000 dlrs and the heron cay 610 site adult community in vero beach florida for a nominal pre tax gain
current quarter net includes 580000 dlr tax credit
canadian trade minister pat carney said that agricultural policies should not hurt world international trade and should therefore become more price responsive over time
the canadian dollar sector however saw good two way trade and a continuation of recent healthy volume as the canadian dollar rides high on the foreign exchanges and futures markets
aqazadeh said the us military presence in the gulf aggravated the regional crisis and made access to the regions oil more difficult but he did not see the us attack significantly affecting oil prices
icco buffer stock manager to buy 3000 tonnes cocoa wednesday june 3 official
an investment partnership led by four sons of loews corp ltr chairman lawrence tisch said it cut its tosco corp stake to the equivalent of 1499985 shares or 495 pct of the total from 1666650 shares or 55 pct
liquefied natural gas imports from algeria are unlikely to happen in 1987 even though its economically feasible us industry analysts sources said
pertamina has 69 production sharing or joint operation contracts with foreign oil companies
in its world production and trade report the department said the branding is necessary to improve surveillance for bovine tuberculosis because it provides a permanent way to identify mexican steers
offering shares to the public is an option large dealers are obviously thinking of very seriously says cole
toshiba already has a sizeable presence in the uk while other japanese companies such as nec corp nipnt has a presence in the key telephone telephone systems for businesses market
the kuwait central bank kept its window for funds to the domestic interbank deposit market shut as banks returned from a four day holiday dealers said
traders said the price hike followed higher spot and futures market prices for heating oil
us ruled out attack on iranian silkworms
market operators subscribed to less than half of the 3000 billion lire offer of a new type of indexed government paper figures from the bank of italy show
kaneb services inc kab 4th qtr loss
the company is proposing to change its name at the next annual meeting to rugby group plc rugby said it spent 27 mln stg on acquisitions in 1986
in 1986 the government financing requirement is estimated at 561 billion francs or 110 pct of gnp
qtly div nine cts vs eight cts prior pay may 12 record march 31
pyongyang and a group of tokyo based north korean businessmen plan to resurrect a north korean goldmine and boost annual output to almost one tonne within two years from 600 pounds at present said li sangsu a spokesman for unzan mine development co the venture partner
floods in early february caused extensive damage in villa rica whose coffee cooperative exported 59960 quintales last year according to the state controlled coffee organisation
moodys investors service inc said it raised to b 1 from b 2 chicago pacific corps 315 mln dlrs of subordinated notes
qtly div 125 dlrs vs 125 dlrs pay may 1 record march 31 note full name is american information technologies corp
water temperatures in the northern fishing areas are three to four degrees centigrade above normal but still not high enough to drive the fish to cooler southern waters it said
aviation and properties together account for 75 pct of the companys net asset value and about 85 pct of its net profits analysts said
philippines said to raise interest offer to banks
indonesian energy minister subroto said opec is deliberately under its production ceiling of 158 mln barrels to defend its 18 dlr a barrel price target
in december an ad hoc committee of the adbs board of governors comprising 18 african and non african countries agreed that a 200 pct increase was necessary to finance a rise in lending between 1987 and 1991
rosenbaum said the administration would continue to support legislation now before congress which would allow the us customs service to monitor coffee imports as a way to comply with any future coffee quotas
their plan would perpetuate the status quo allowing brazil to retain almost all of its current 30 pct share of the export market colombia 17 pct ivory coast seven pct and indonesia six pct with the rest divided among smaller exporters
in europe to manufacture a high performance engineering thermoplastic
the study cited two basic policy paths for the nation to protect the us industry through an import fee or other such device or to accept the full economic benefits of cheap oil
southwestern bell said it expects the new tax law to have a negative impact on its cash flow due mainly to the loss of investment tax credits
opec output for the whole of february was about 200000 bpd above the ceiling largely because of overproduction by the united arab emirates and kuwait the figures show
mmtcs recent global tenders now include a clause that preference will be given to parties who accept payment in kind for goods and services sold to india a trade official said adding that the policy remains flexible
harris teeter properties inc reported fourth quarter fiscal 1986 earnings per share of 24 cts on earnings of 601000 dlrs
they are sceptical about the chances for any fundamental change
northeast savings fa said its board adopted a shareholder rights plan designed to protect the company from coercive takeover tactics and bids not fair to all sharholders
taiwan buys 462000 tonnes of us maize
terms were not disclosed
we are willing even eager to make a fair market value offer in cash for the southern pacific said kansas city southern president and chief executive officer landon h
following the lead of other major banks southeast banking corp told the securities and exchange commission it would place 542 mln dlrs of medium and long term brazilian debt on non accrual or cash status
avinda said the debt conversion will inject 3140000 dlrs of equity into the company increase net book value per share to 22 cts from five cts and reduce annual interest costs by 428000 dlrs
sumner will be president of the combined unit crossland said
these moves would be taken only if tomorrows meeting of ministers in brussels again fails to reach an accord ec sources said
but he said the market rushed to sell dollars as it nervously reacted to statements abroad and to developments surrounding trade tensions
we could see the trade deficit start down in february or march baldrige said in an appearance before the senate governmental affairs committee
he credits good results at rca in turn aided by the nbc broadcasting operation and lower interest rates
chemlawn said the plan will not be triggered by purchases purusant to waste managements present tender offer
a spokesman told the ministrys view is that international investment flows ought to be free and that such flows are of increasing importance in line with the growing closeness of us japanese economic ties
it was also given permission last week to open an office in tokyo where total market turnover had lifted rapidly to about five billion dlrs a day
treasury secertary james baker said currencies were now within ranges that better reflected economic fundamentals
and it is believed that the soviet union will need to return to the market to take a further 250000 350000 tonnes for may june shipment man added
in a filing with the securities and exchange commission the group said it bought 32800 robeson common shares between jan 26 and feb 9 for 175691 dlrs
american said richard d
rapeseed and meal usage during the season also rose 14 pct to 409000 tonnes from 360000 but citruspulp fell 37 pct to 516000 tonnes from 826000
the transaction calls for the issuance of 1 1 2 shares of wichita common for each outstanding fountain share
in return for accepting a lower yield the amount of debt converted will be subtracted from the banks exposure for purposes of calculating its contribution to future new loans
if there is anything of consequence to offer prime minister yasuhiro nakasone would take it with him when he visits washington later in the month one us official said
he proposed that any attempt to impose new duties to offset subsidies should go first a special disputes commission for resolution at an early stage
the uaes minister of state for finance and industry ahmed humaid al tayer told reporters after the two day talks that the ministers referred the issue back to gcc central bank governors for further discussion
it the bond market has not yet demonstrated that it can break out of its very low volatility said carroll mcentee and mcginley analyst denis karnosky
transportation department dismisses twa application for usair control
central bank general manager hector neyra told reporters that many of the credits were for 90 day terms and could be used several times a year
british manufacturers expect output to grow rapidly in the four coming months a confederation of british industry cbi survey shows
helmerich and payne inc hp increases div
fluorocarbon also said the division should boost annual sales to 165 mln dlrs from last years 98 mln dlrs
the proposal would also offer a cable nominee a seat on the board of the merged company
last month contractual volumes were cut by 30 pct
franklin pennsylvania tax free in initial payout
the duties now are being assessed on a temporary basis pending a final ruling by the us international trade commission itc on whether the imports are injuring the domestic orange industry
feds heller urges japanese to buy us goods
this raised the amount of dutch grants to bangladesh to 759 mln dlrs since 1972 used mainly for commodity imports and implementing development projects they said
citicorp said if dixons accepted the proposal cyacq would terminate its competing 9250 dlr offer for cyclops
japanese compound feed output rose 23 pct to 2580 mln tonnes in 1986 87 ended march 31 from 2523 mln a year earlier the agriculture ministry said
the company said the offering will be sold through shearson lehman brothers inc drexel burnham lambert inc and tucker anthony and rl day inc
general instrument corp grl 4th qtr loss
ec foreign ministers meeting here issued a statement deploring japans continued trade imbalance and appealed for greater effort by the country to open its markets
the amount and issue price will be set at tender next tuesday march 31
in order to rebuild the free trade system it is important for each participant to have domestic policies that will serve this end
champions suit claims that various champion investors alligned themselves with cormier and navon who failed to disclose properly under federal laws that they were acting in concert and they intended to spin off parts of the company and sell the balance within two years once they got control
one way to accomplish that specific objective is to go out and acquire other airlines said andrew kim of eberstadt fleming
royal gold and silver corp rgsto six mths net
saitos words were ignored
us house and senate budget negotiators agreed as part of an overall budget accord reached yesterday to cut 125 billion dlrs from fiscal 1988 spending on agricultural programs congressional sources told 
us undersecretary of state for economic affairs allen wallis said he had urged japan to do much more to reduce its large trade surplus with the united states
moodys cited deterioration in capital structure and debt protection measurements due to aggressive balance sheet management
allegheny international said the agreement calls for the first boston affiliate to start a cash tender offer for all outstanding shares of alleghenys common cumulative preferred and convertible preferred
uk money market gets 103 mln stg help
salant corp slt 1st qtr feb 28 net
us officials do not expect any japanese concessions during lyngs two week visit here
hutton said the offer which had been conditioned upon the tender of at least 5116892 purolator shares or about two thirds of the outstanding shares was terminated because the minimum number of shares was not tendered
the fed is focusing its policy attention mainly on the need to defend the dollar jones said
they said the arrangement which is subject to a number of conditions including us design shareholder approval calls for maxtor to issue 12 mln dlrs worth of its own common stock in exchange for all of us design
in 1986 the companys capital spending totaled 710 mln dlrs
finance minister gerhard stoltenberg said he will advise brazil to take up discussions with its commercial bank creditors when he is in washington for the international monetary fund imf meeting next week
oper shr 26 cts vs 18 cts oper net 2877000 vs 1363000 revs 443 mln vs 408 mln avg shrs 109 mln vs 105 mln note prior qtr excludes loss 475000 or five cts per share for discontinued operations for the sale of subsidiaries intermedics intraocular inc electronics inc and intermedics infusaid inc
partially offsetting 1986s record insurance losses nationwide said were record investment gains of 775 mln dlrs and a 28 mln dlr federal tax credit
the trustee is bank of america national trust and savings association in san francisco and the paying agent is bankers trust co new york
two major steel companies said they were studying a price increase announced yesterday by usx corps uss steelmaking division
san juan racing association inc sjr 3rd qtr
usair said the 3491030 new shares it has an option to buy represent 185 pct of piedmonts currently outstanding shares
if we are going to sell our products whatever they may be wheat or anything else then we have to meet the market shultz told the board of directors for the national association of wheat growers
qtly div 12 1 2 cts vs 12 1 2 cts prior pay april one record march 20
current public stocks of durum wheat in the ec are 115 mln tonnes of which almost 112 mln are in italy
discount window borrowings were in line with expectations at 233 mln dlrs a day
iran says us attack involves it in full scale war
the central bank will issue licenses to procure foreign exchange in accordance with guidelines set by the council
lasmo canada to merge with onyx petroleum
usda orange juice yield estimate
hudson chairman kenneth mackes cited the late easter for the decline
the subcommittee rejected a proposal requiring the us to pay investors one pct for the right to hold their gold investments in government storage
oppenheimer industries inc said it expects to report a loss for the year ended january 31 of about 980000 dlrs compared with a profit of 211074 dlrs a year before
the dividend is payable april one to holders of record march 18
a ministry official attributed the decline to falling production of non metal products textiles and transportation equipment and less mining and house construction
light showers in eastern algeria and tunisia maintained adequate moisture for crop growth it said
this anzola said would mean a reduction in the amount of the public sector debt and an increase in foreign investment
campeau corp said its allied stores corp entered into a definitive agreement to sell its garfinckels division to raleigh stories corp for 95 mln dlrs
dealers said that federal funds were trading at 6 1 4 pct when the fed began its temporary and direct supply of reserves to the banking system
us minerals said the new montana tunnels mine near helena mont is expected to reach full production in august 1987
royal dutch shell eventually raised its initial 55 dlrs a share offer to 60 dlrs a share after lawsuits by minority shareholders
he said the long term answer for depressed regions of the country was reaching a free trade pact with the united states which he claimed would improve the outlook for western canada
south koreas foreign debt which fell to 445 billion dlrs in 1986 from 468 billion in 1985 is still among the largest in asia
it has also asked for a reduction in interest rates and fresh credit
the guarantee line for sales of corn has been reduced from 780 mln dlrs to 570 mln and the line for oilseeds from 50 mln dlrs to zero
ordinary shares rose 20 lire to 12880 today but were well down from 16600 on september 23
it said mikromed is developing a kit which it would distribute to its customers and which would be used by its customers to draw samples of their own blood
the iagifu wells in the papuan basin have recorded the best oil flows in more than 60 years of exploration in png
a spokesman for the state owned tin mining company pt tambang timah told it would be easy for indonesia to stick to an export quota of 24516 tonnes because this was close to exports in calendar 1986 of 24636
but the present tendency has been that more and more of the banks specially the regionals or the small ones have either sold off their portfolios or simply by policy will not put up any more money fernandez said
the acquisition represents a diversification in a market sector with annual consumption of 8500 billion lire buitoni said
alza corp issues 75 mln dlr convertible bond
higher 1986 profit for dutch chemical firm dsm
we may see and hope for a steady upward climb but we wont see a major increase for a number of years hemsley said
coffee earnings were down to 110 mln dlrs against 295 mln in february 1986 because of lower prices he added
the international coffee organization ico executive board is to hold a meeting on november 3 4 its first since export quotas were re introduced early this month
lamborghini which is controlled by the mimran group of switzerland broke even last year on sales of 29 billion lire he said
data in the letter showed the tea and hazelnuts contained caesium levels far in excess of ceilings recommended by the united nations food and agriculture organisation fao the letter said people who had consumed the tea faced no particular health danger as most of the caesium remained in the tea leaves but it warned against eating the hazelnuts
chemical waste management inc chw 3rd qtr net
iran says it will combat gulf intervention
co leads are bank mees en hope amro bank and citicorp investment bank netherlands the management group consists of rabo nmb cln oyens en van eeghen and f van lanschot bankiers
basic american also said it engaged the health care capital market groups of thomson mckinnon securities inc to act as investment banker in placement of its proposed notes
corrects to show nippons affiliate koba buying stake in lifetime
bundesbank deputy president helmut schlesinger said the west german central bank had no plan to cut its three pct discount rate nihon keizai newspaper reported
total m1 fell 53 pct to 5952 billion dlrs in february after a 12 pct rise in the previous month
us appears to tolerate further dlr decline
tesco plc tscol said in a statement it expects pre tax profits of 166 mln stg for the year ending february 28 1987 before nine mln stg of net property profits
dairy farm said it would reduce its bank borrowings by the proceeds from the previously announced sale of its office building in sydney for 625 mln dlrs
both programs will provide up to 85 pct financing the maximum permitted under the oecd consensus
the reagan administration has called for an end to the quotas by april 1988 but japanese officials have said they would not liberalize imports regardless of the us pressure
shr 227p vs 203p
one vertical drill hole intersected gold continuously from 1100 feet to 1730 feet averaging 030 ounces per ton the announcement said
buyers were the us argentina uruguay and convertible currency areas
shr profit nil vs profit 38 cts net profit 19000 vs profit 1239000 revs 317 mln vs 312 mln 12 mths shr profit 52 cts vs loss three cts net profit 2173000 vs loss 119000 revs 1035 mln vs 986 mln
polish farmers will receive price rises ranging from 134 pct for some crops to 233 pct for meat from july 1 the finance and agriculture ministries said
the program will affect drilling done anywhere in canada on or after april 1 1987
china trade deficit falls sharply reserves rise
merry go round enterprises inc mgre 4th qtr
a chemical plant in the south china province of guangdong will raise 30 mln yuan by a domestic bond issue the china news service monitored here said
the charges would then be dropped if the defendants successfully complete the probation period
the company said the nasd has granted it an indeterminate amount of time to resolve issues raised by the nasd on the market making of rlrs rlr securities group inc subsidiary in shares of the parent company
moodys investors services inc said it downgraded about 82 billion dlrs of debt of texaco inc and its units
the ec trades with individual comecon member states despite non recognition of comecon
on the exports side agricultural exports rose 600 mln dlrs or nine pct to 71 billion dlrs primarily because of a 104 pct or 600 mln dlr increase in soybean exports
the officials asking not to be identified said the government will investigate an industry contention that steel imported from countries such as south korea and taiwan is being diverted to the us and ultimately exasperating concerns about the level of canadian exports south of the border
citicorp took over vickers de costa ltd and chase bought laurie milbank and co bankers did not know if all the banks would get licenses but said jp morgan probably would as it was first to ask
still south korean trade minister rha woong bae said last week that korea would maintain a trade surplus for three to five years as a way to cut its 445 billion dlr foreign debt
philippines posts 68 mln dlr january trade deficit
bank of japan to sell 400 billion yen in bills
entre computer centers inc etre 2nd qtr loss
last year we asked for moderation in exports and this year we may have to do so again he said
the directors are expected to end their meetings later today and the ibd governors will start a two day annual meeting in istanbul on saturday
japanese finance minister kiichi miyazawa said today the time had come for the six nations who agreed in paris last month to stabilise currencies japan britain canada france the us and west germany to take action in line with the pact
for the fourth quarter mci reported a 448 mln dlr loss due mainly to write offs and staff reductions
api said refinery runs in the week fell to 1217 mln barrels per day from a revised 1242 mln and refinery use of operating capacity was 781 pct off from a revised 797 pct
he said the cuts resulted from a government decision to let the temporary business and municipal tax reductions on exported tin lapse on june 3
shr 66 cts vs 61 cts net 5928000 vs 5447000 revs 1260 mln vs 898 mln avg shrs 8948000 vs 8947000 nine mths shr 196 dlrs vs 196 dlrs net 175 mln vs 163 mln revs 3439 mln vs 2869 mln avg shrs 8948000 vs 8300000
standard and poors corp said it assigned a preliminary aaa rating to 150 mln dlrs of 7 1 4 pct guaranteed subordinated bonds due 1992 of nomura international finance plc the uk unit of nomura securities co ltd
permian raises crude oil postings 50 cts a bbl wti to 19 dlrs
within group turnover foreign sales fell to 2718 billion marks in 1986 from 3192 billion in 1985 a drop of 149 pct
tomorrows surplus in the money market is estimated at 420 billion yen mainly due to payment of national annuities money traders said
lost exports of 185000 bpd are costing it 90 mln dlrs per month espinosa said
in nadi two bomb threats forced evacuation of the australian westpac bank but police said they turned out to be a hoax
brazilian finance minister dilson funaro flatly rejected a uk suggestion that his country seek international monetary fund imf help in order to facilitate debt negotiations with commercial creditor banks
the warrants may be exercised from april 30 1987 to april 30 1990
the extraordinary items debit of 38 mln stg arose on the closure and disposal of various businesses
decembers 29 pct was the previous worst level since the governments management and coordination agency began compiling statistics under its current system in 1953
nevertheless gurria said mexico does not expect to draw on the commercial banks 12 billion dlr investment support contingency facility
more he said they had decided in a meeting that if the marines take over the ships the seamen would abandon the vessels and let the marines handle the situation by themselves
fleet financial group said its shareholders approved an increase in shares of the companys authorized common stock to 100000000 shares from 75000000 shares currently
phoenix steel corp said a group of investors offered to buy its clayton steel plate mill for eight mln dlrs and the assumption of a bond obligation
as a result call money soared in active trading to around the lombard rate of five pct from 370 80 pct yesterday as banks found themselves short of minimum reserve funds
bank of tokyo issues convertible eurobond
dcny corp dcy hikes qtly dividend
centronics said its board will be entitled to redeem the rights at two cts per right at any time before a 30 pct position has been acquired
rice milled basis 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stocks 2471 2475 2216 2216 production 31790 31890 32012 32005 imports 1056 1063 1168 1170 dom
french household consumption of industrial goods fell 11 pct seasonally adjusted to 2132 billion francs last month from 2155 billion in january the national statistics institute insee said
france has sold a total of 200000 tonnes of soft wheat to tunisia since the begining of the current campaign which was covered by coface export credits
takeover speculation buoyed wendys international incs stock even after coca cola co took the fizz out of market rumors by denying it was an interested suitor
the post detente embargoes have taught the ussr to limit its trading with the us he said
we cannot continue to pile up stocks while world demand shrinks he said
sri lankan bank offers 250 mln rupees t bills
it said it expects the offering to close in may
william reynolds gencorp chairman said the sale of general tire represents a critical accomplishment in our plan to restructure gencorp reynolds also said gencorps previously announced sale of its other businesses are proceeding satisfactorily among the pieces of gencorps empire that remain to be sold are its rko bottling operations
endotronics endo expects loss for year
butler mfg co said it signed a memorandum of intent to acquire naturalite inc a manufacturer of skylights
as a result of the impasse the us is considering restrictions on imports of items such as argentine corned beef and finished leather the us sources said
the government removed taher and oil minister ahmed zaki yamani from their posts late last year in a move which industry sources said was aimed at coming to grips with a buyers oil market
du plessis said the banks were showing much more confidence in the south african economy and country as a whole
great american first savings gta 3rd qtr net
the treasury department said it would release data on us reserve assets on a monthly basis from now on instead of quarterly
fhlbb says mortgage rates continue decline
datron systems dtsi sees lower year net
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
it had a daily circulation of about 20000 copies
a team of california researchers said that they have developed a better faster test for detecting sickle cell anemia in unborn children than existing procedures
prime minister edward seaga who led the jamaican delegation called the terms very favourable to his country
mthly div 65 cts vs 68 cts prior pay march 31 record march 16 note franklin massachusetts insured tax free income fund
these agencies included the office of management and budget and the departments of interior and commerce he said
clayton and dubilier inc sells burpee
the president of the ecuadorean red cross hugo merino told the official toll of 300 dead and 4000 missing could rise as rescue workers inspect stricken sites from helicopters and wade through mud to reach victims in the four northeastern provinces hardest hit
the more united pressure there could be the better he said
saudi arabia decides to accept brazil credit
norstar bancorp said it has agreed in principle to acquire united national bank of callicoon ny by exchanging three norstar common shares for each of the 201660 united shares outstanding
the oecd attributed the rise in consumer prices to the effects of the february 1986 drop in energy prices working their way out of the index
a handful of market giants have frightened the retail away with this aggressive manipulation
the bank of england said it provided the market with further help totalling 166 mln stg during the afternoon
in that agreement signed september 15 1986 pdvsa paid southland 290 mln dlrs for half of citgos stock
this currency alignment between japan and the ec is reflecting the excellent performance of the ec countries
he said mellon which was ordered in december to quit brazil because of its refusal to renew some short term credit lines expects to participate in efforts to helpt brazil and other sovereign borrowers to reschedule their debts
the committee will be seeking a further shipment of between 27000 and 33000 tonnes when it reopens the tender tomorrow he added
moodys said it also assigned ratings to euroyen bonds with aaa ratings assigned to the following societe generales 19 billion yen zero coupon notes due 1992
the treasury said it received 2599 billion dlrs of bids for the three month bills including 12 billion dlrs in non competitive bids from the public
shr profit one cent vs loss 37 cts net profit 148000 dlrs vs loss 1686000 revs 114 mln vs 109 mln note company said net is before extraordinary items and taxes and declined to provide data on those items
the fed said net discount window borrowings in the two weeks ended wednesday averaged 191 mln dlrs up from 381 mln dlrs in the february 25 statement period but little changed from 160 mln dlrs in the period before that
a grain industry representative said some participants were puzzled by usdas apparent reluctance to bring before the cabinet council an eep wheat offer to the soviets
petricioli said he saw the basis for a compromise when the issue comes up again during the international monetary fund and world bank interim meetings next month in washington
rigid accounting rules have prevented us banks from seriously considering adding interest to the principal of a loan because they would have to declare the loan non performing
in addition both the us and west german central banks were keen to avoid a dollar slide which would force them to again spend vast sums intervening to support the dollar
this compared with a year on year rise of 27 pct in january the lowest for 25 years and was the highest figure since october
but the presidents instructions were unequivocal and unwavering do not yield one more millimetre and i dont care how long it takes
proceeds will be used to repay short term debt incurred primarily for working capital integrated resources said
under the paris accord tokyo promised a package of measures after the fiscal 1987 budget was passed to boost domestic demand increase imports and cut its trade surplus
canada plans three part one billion dlr bond issue tuesday official
dart darta makes offer for supermarkets sgl 
the bundesbank could hold down money market rates with the highly effective instrument of sale and repurchase transactions it said
the remaining 200000 tonnes will be made available in may and june
currency dealers here and in the far east said the dollar gained slight background support from the speculation
baring capital investors ltd bci a unit of the uk merchant bank baring brothers and co ltd said it has raised 61 mln european currency units ecus which will be invested in management buy outs and development capital opportunities in the uk and continental europe
united artists communications inc and united cable television corp said they have indefinitely suspended negotiations on a proposed merger of their companies previously announced
rumors of a major seller were not confirmed but some traders felt limited potential for further canadian dollar gains might be taking some of the shine off domestic bonds
papandreou was speaking to reporters after briefing opposition political leaders on the latest developments in the row as a turkish research ship escorted by warships and combat aircraft headed for the aegean
he did not say on what he based the comment but an aide said roberts had been in touch with top republican officials recently
but dealers said it was possible the bundesbank would allocate funds at 36 pct rather than 355
gross domestic product is expected to grow by 44 pct in the year ending june 30 finance minister mohammad syeduzzaman told reporters
yugoslavia debt payments to be adjusted to exports
the limit on foreign assets as a proportion of japanese insurers assets was increased to 25 pct from 10 pct last year
the two sides held inconclusive talks in miami on march 22 bankers said
he currently faces criminal charges
results include 647 pct stake in pacific lumber co from december 1985 through february 1987 and 100 pct thereafter
policymakers must also face up to the reality that the bulk of world oil reserves lies in the middle east he said in a speech prepared for delivery to the australian petroleum exploration association apea annual conference
however preliminary consultations with bank representatives had shown some of the initial proposals to be flawed it said
bolivias return from the financial wilderness follows paz estenssoros economic stabilisation program
indonesian wheat imports expected to fall in 1987
carlton communications optimistic for 1987
coast said a ruling this week by judge leal freed the company to work with transamericans creditors and other interested parties in developing a reorganization plan
dealers predicted reasonable demand for both issues due mainly to a lack of fresh good name paper in the market
cis technologies inc said that it and the swiss reinsurance co of zurich switzerland agreed to a second extension of two dates for the final part of their share purchase agreement
westpac said in a statement the increase reflects high costs of funding
global natural resources inc gnr 4th qtr loss
fourth qtr earnings exclude loss from discontinued operations of 676 mln dlrs or 472 dlrs a share and a loss of 258 mln dlrs or 181 dlrs a share from tax reverse versus a gain from discontinued operations of 18 mln dlrs or 14 cts a share in 1985s 4th qtr
it also brought the price for west texas sour to 1750 dlrs a bbl
it quoted unnamed economists as saying they expect 1987 industrial production to increase at a proper rate and with better results due to a cost efficiency drive underway throughout the country
the following proposed securities offerings were filed recently with the securities and exchange commission audiotronics corp ado shelf offering of up to five mln dlrs of convertible subordinated debentures due 2002 through hj meyers and co inc
addressing analysts tsai said first quarter results have been extremely encouraging and results for all of 1987 will show significant improvement over 1986 american can earned 1963 mln dlrs or 321 dlrs per share adjusted for a two for one stock split in 1986
the package also includes two contingency facilities totalling 17 billion dlrs
price pclb to buy 80 pct of tss seedman
prospect group inc prosz 4th qtr loss
shr 55 cts vs 80 cts net 2517443 vs 3633217 revs 791 mln vs 763 mln 12 mths shr 257 dlrs vs 341 dlrs net 117 mln vs 154 mln revs 3051 mln vs 3143 mln
the bank also said it provided the money market 456 mln stg assistance in the afternoon session bringing its total help so far today to 493 mln stg
the company said a merger of rexnord and a subsidiary of banner will be completed before mid may
lusinchi defended the rescheduling accord against critics who said it merely deferred the weight of payments to future governments
share dealers said speculation had arisen in the early pre bourse market that the veba announcement could come as early as today
stratus computer inc strao 3rd qtr net shr 26 cts vs 18 cts net 5281000 vs 3496000 rev 488 mln vs 321 mln nine mos shr 64 cts vs 51 cts net 12852000 vs 9822000 rev 1290 mln vs 892 mln
shr primary 33 cts vs 33 cts shr diluted 27 cts vs 32 cts net 3669000 vs 3556000 revs 582 mln vs 566 mln avg shrs primary 112 mln vs 111 mln avg shrs diluted 151 mln vs 111 mln six mths shr primary 43 cts vs 46 cts shr diluted 37 cts vs 45 cts net 4711000 vs 4879000 revs 1019 mln vs 957 mln avg shrs primary 112 mln vs 109 mln avg shrs diluted 151 mln vs 109 mln
the mine had been scheduled to close in 1989 after the 40 series stopes were mined but will now stay open until the deeper 50 and 60 series have played out probably in 1994
company went public in december 1986
national city bancorp said directors at the annual meeting declared a 10 pct stock dividend payable may 22 record april 24
florida weekly crop report
finance minister beshir omar presenting plans to parliament last night put the budget deficit at 288 billion pounds against 285 billion in 1986 87
the price will be calculated daily based on the daily gold fixing in london
banque nationale de paris hong kong branch is planning a 100 mln hk dlr certificate of deposit issue with bt asia ltd as lead manager banking sources said
rowntree mackintosh plc rwntl is issuing a 55 mln stg eurobond due march 31 2002 paying an indicated coupon of 4 1 2 pct to five pct and priced at par lead manager j henry schroder wagg and co ltd said
merrill lynch pierce fenner and smith is a subsidiary of merrill lynch and co inc
standard srd referring bp bp bid to group
bank new england bkne files note offering
if calculated on the last 12 months the differential came to 39 pct the statement said adding the tendency is therefore one of a lessening of the inflation gap with our main trading partner
pleas by japanese finance minister kiichi miyazawa for action to stabilise the dollar were matched over the weekend by comments by us treasury secretary james baker that there was no target zone for the dollar
he said the refinery had been closed for longer than originally expected due to the lengthy safety checks being carried out prior to restarting
rpt european trade may propose new ico formula
these were net profit 301 mln guilders vs 312 mln
should g 7 members force a us commitment to cut its budget deficit in the next two years a further decline in the dollar could be forestalled horner said
latex crepe prices were unchanged with the best one x selling at 2092 rupees
the us commodity credit corporation ccc has authorized an additional 100 mln dlrs in credit guarantees to cover sales of us vegetable oils to north yemen the us agriculture department said
new bond issues accounted for 412 billion of the total after decembers 215 billion and credits 5251 mln after 3899 mln
total fees of 2 1 2 pct comprise 1 2 pct each for management and underwriting and 1 1 2 pct for selling
in a newspaper advertisement the company said the offer and withdrawal rights expire april nine unless extended
software services of america inc ssoao net
tug crews are preventing the movement of foreign flag container vessels in and out of the ports of sydney melbourne and fremantle shipping sources said
some outstanding debt will be retired
on balance this is the best new idea i have seen said rep
thai rice exports fall in week to march 31
the central bank said italys one billion dlr eurobond launched last month contributed to septembers surplus
japan in last ditch effort to save chip pact
bp has been owner of a 55 pct stake in standard for several years
rosewood which is owned by the caroline hunt trust estate whose trustees include margaret hunt hill also said it has notified the federal trade commission of its intent to buy between 15 and 25 pct of comdatas common stock
the central bank purchased in band one 20 mln stg at 9 7 8 pct in band two 254 mln at 9 13 16 pct in band three 66 mln at 9 3 4 pct and in band four seven mln stg at 9 11 16 pct
port officials said the national halt had already caused losses estimated at 15 mln dlrs
our plans were to finalize the merger at midnight tonight delta spokesman bill berry told the atlanta constitution late last night
but ultramar said the funds would ultimately be used for further development of its core businesses in the uk and north america
restaurant associates industries inc said it expects to record a pretax gain of 33 mln dlrs in the first quarter from the sale and lease of real estate
us treasury secretary james baker said any attempt to declare blanket debt forgiveness for major latin american debtor nations might damage the world economy
cincinnati gas and electric co filed with the securities and exchange commission for shelf offerings of up to 13 mln shares of cumulative preferred stock and of up to 200 mln dlrs of first mortgage bonds
rogers rog sees 1st qtr net up significantly
the 1986 results include a once off writedown of 520 mln crowns for intangible assets mainly the know how paid for in the takeover of a number of high tech companies by the group pharmacia said
potlatch corp pch 1st qtr net
the telex could be sent to creditors as early as today bankers said
belgian march consumer prices rise
veslefrikk with estimated recoverable reserves of 258 mln barrels oil and 140 billion cubic feet gas is located 145 km west of bergen
usda projected 1985 86 exports at 120 mln tonnes vs 120 mln last month
the soviet union would likely be more interested in purchasing new crop wheat than in booking any grain for immediate shipment if offered a subsidy on us wheat an executive with a major grain export company said
i think that an increase would be totally wrong
results exclude credits of 2227000 or four cts and 4841000 or nine cts for 1986 qtr and six mths vs 2285000 or six cts and 4104000 or 11 cts for prior periods from operating loss carryforwards
the offer is conditioned on receipt of at least 5116892 purolator shares or a 667 pct interest and is the first step in a merger agreement that has been approved by the purolator board
b and c also said that its chairman lord cayzer planned to retire in june
upon completion of the proposed transaction the officers of datron would own 100 pct of the company
haughey said delors assured me we could have full recourse to the commission for advice guidance and expert skills in dealing with our overall financial problems particularily in the matter of debt management noting current debt servicing charges are about two billion punts a year he added if we could achieve any significant improvement in the management and reduction in the cost of servicing it could have significant budgetary benefits he added that he would seek advice not a community loan
he did not say where the money would come from but diplomats expect the government to ask the world bank and other foreign donors to provide most of the foreign exchange portion
the treasury said the us share of bridge financing for argentina would come from its exchange stabilization fund
the european community ec has effectively given japan six weeks to take moves to open its market to imports before it decides on possible tough retaliatory trade measures ec diplomats said
while acknowledging that it is harder to increase japanese imports of american chips miti officials said that the ministry is doing all it can to ensure that happens
they said the fed would supply the reserves indirectly via around 15 billion dlrs of customer repurchase agreements
bil said in a statement the offer is conditional on minimum acceptances totalling 30 mln shares just under 25 pct of the 1204 mln progressive shares on issue
condere formed to acquire the armstrong assets said it named dennis terwillger formerly vice president and controller of armstrongs tire division president
if the spot price of dubai goes above 1730 dlrs we would probably buy iranian crude at the official price one japanese refiner said
lifting exchange controls is the final answer but the central bank is not prepared to do it
dividend payable dec 11 to shareholders of record nov 13
a sinking fund beginning in 1998 to retire five pct of the debt annually can be increased by 200 pct at the companys option giving the debentures an estimated minimum life of 139 years and estimated maximum life of 205 years
in a major challenge to the us plan brazil last month declared a moratorium on interest payments and followed it up with a world tour by officials seeking a political way out of its 109 billion dlr debt burden
shr 39 cts vs 134 dlrs net 1392000 vs 4686000 sales 819 mln vs 817 mln year shr 10 cts vs 97 cts net 355000 vs 3375000 sales 2704 mln vs 2728 mln note share adjusted for three pct stock dividend in january 1987
indeed the falling dollar may have been a key topic at the meeting of the federal reserves policy making arm the federal open market committee this week analysts said
seed beds look good and farmers are advised to wait for soil temperatures to rise the spokesman said
and while figures are not yet available for the last quarter the anecdotal evidence suggests that the trend continued traders say
the rally was led by spot month heating oil contract which seemed to move higher because of tigtened prompt deliveries in new york harbor said james ritterbusch vice president at paine webber inc in chicago
commerzbank ag was sole manager for the deal which was offered on one broker screen at less 1 1 2 pct
he said his bill would allow private suits for damages for failure to meet the federal reserves 50 pct margin requirements
the long term prospects of the malaysian economy are bright indications are already available to show that the economy is recovering and that growth will be positive and stronger than originally expected azraai said
asbestec industries inc said its board declared a three for two stock split payable april 17 record april three
they said the bank seemed more determined to support the dollar than it did this morning
borg warner has been the focus of takeover speculation for about a year
avx said a syndicate managed by shearson lehman brothers inc will underwrite the offering
the plants production will be used by finlands paper industry for making coated paper and paper board products
if the bundesbank wants to finely steer the market then they should avoid such excesses
oper shr loss 607 vs loss 764 dlrs oper net loss 6235000 vs loss 4801000 sales 701 mln vs 606 mln avg shrs 1028000 vs 629000 note 1986 earnings exclude a gain on restructuring of 3143000 dlrs or 301 dlrs a share
the bank of england said it had invited an early round of bill offers from the discount houses
two of the groups members venezuela and mexico are second and third largest foreign suppliers of oil to the united states respectively following canada
malaysian palm oil exports to the ec are worth about 250 mln dlrs a year
we hope the new office might help gunther schulz adb vice president in charge of projects said
unilever plc final div 3518p making 5017p vs 3862p
as a british government investigation got under way into the sinking of the car ferry herald of free enterprise with heavy loss of life experts said doubts had already been expressed about the roll on roll off type of ship
he estimated that debt equity conversion plans accounted for 25 billion dlrs last year in four of the regions major debtor states
the idea is to create a pool of funds in the firm with participating creditor banks holding the firms stock
carlo de benedettis food company industrie buitoni perugina spa said it has acquired the italian food group vismara
eib plans 300 mln guilder bond issue due 1995
southlife holding co slhc 4th qtr net
it rose as high as 150 dlrs in toronto during the day
illinois regional illr mulls affiliation
the letter of credit has a five year term with an evergreen feature allowing for extension at the support banks option
the notification came in japans answer to a recent gatt questionnaire on unfair trade practices the spokesman said
japans constitution prevents its armed forces from being deployed overseas
striking brazilian seamen hold pay talks
synar democrat of oklahoma made his remarks in comments on a study by the general accounting office gao on the us participation in the 1985 test of the emergency oil sharing program of the international energy agency
moodys cited fleets announced merger with norstar bancorp inc nor the rating agency said it will examine the degree to which the combined entity would have a more diversified earnings stream balanced funding structure and enhanced equity base
i dont know and i dont think anyone knows said hugh richardson acting head of the ec delegation in tokyo
in that connection they welcomed the strong implementation of the louvre agreement
fcs laboratories fcsi terminates deal talks
year net includes pension gain 3455000 dlrs vs charge 5502000 dlrs due to change in pension accounting
orbit increases oil and gas reserve values
housing starts before adjustment rose to 150200 in september from 144600 in august
south africas total gold and foreign assets rose by 700 mln rand in february to 62 billion rand after rising by almost one billion rand in january reserve bank governor gerhard de kock said
opec agreed last december to limit production to 158 mln bpd and return to fixed prices averaging 18 dlrs a barrel
dealers noted that as part of the authorities attempts last week to ease pressure for lower rates the bank had issued a one billion stg tap stock with a view to subduing the government bond market
japanese crushers buy canadian rapeseed
midland bank treasury economist david simmonds said he too expected base rates would be a full point lower by friday but this would likely happen via two half point cuts
qtly div 17 1 2 cts vs 17 1 4 cts pay april 15 record march 31 note full name federal paper board co
canon usa inc wholly owned by canon inc of japan is issuing a 10 mln dlr floating rate note frn due december 4 1989 paying 018 pct over six month london interbank offered rate libor and priced at 100 3 8 yamaichi international europe ltd said as lead manager
union carbide says operating profits for 4th qtr were 181 mln dlrs vs loss three mln dlrs
chartwell group ltd ctwl 4th qtr net
sight deposits by commercial banks at the swiss national bank rose by 310 billion swiss francs to 1053 billion in the last 10 days of february the national bank said
kansas city southern industries says it eager to purchase southern pacific railroad
interstate securities inc is 4th qtr sept 30
the tax which would apply on both domestically produced and imported oils and fats has been fiercely opposed by the united states and developing countries vegetable and marine oil producers
colombian finance minister cesar gaviria blamed an inflexible us position for the failure of last weeks international coffee organisation ico talks on export quotas
it said in a statement that forecasts show a net cash withdrawal from the system
the government has pointed out that depressed exports are the main reason for the current weakness in the economy but says that later in the year stronger domestic demand will compensate for this setback
additional capital inflows of 15 billion dlrs so far this year have boosted mexicos reserves to about eight billion dlrs director of public credit angel gurria told reporters
rmj was then valued at about 50 mln dlrs
the expiration of the sales tax deduction under new tax laws on january 1 was the main reason for the drop in january sales department spokesmen said
he said forecasts to be released soon by research groups would predict a rate of around eight or nine pct in the 12 months to the end of march 1988 against 182 pct in calendar 1986
schlueter said after a routine cabinet meeting yesterday if economic tightening up is necessary we will do it the government has already imposed three austerity packages since december 1985 in an attempt to bring down the external current account deficit which rose to a preliminary 345 billion crowns in 1986 from 291 billion the previous year
the 100000 tonnes of corn sales to algeria are for delivery during the 1986 87 season it said
the category referred to as other covering bank and credit union loans fell by 250 mln dlrs in january after declining by 244 billion dlrs in december the fed said
trade and industry department officials also declined immediate comment
mccormick and co inc mccrk 1st qtr net
this followed a 06 pct rise in the ppi in january
west german sugar stocks rose to 260 mln tonnes white value at the end of february from 250 mln at the same time a year earlier the sugar industry association wvz said
those improvements follow a sharp downturn in 1986 when operating income for the ten companies dropped 47 pct to 105 billion dlrs and operating cash flow fell 22 pct to 290 billion dlrs
the sunderland plant currently produces 24000 bluebird cars annually for the british market
cambior inc five mths dec 31 net
he said those countries which had confirmed their presence were brazil mexico guatemala el salvador costa rica and panama
ministry of agriculture figures for march indicate 185 mln tonnes of wheat and 174 mln tonnes of barley remain in the free market
the kaufhof spokesman noted any decision on purchasing shares in the shipping group would have to be approved by the supervisory board which is due to hold a meeting tomorrow
irving trust v buys gulf western gw unit
gatt official meets with us farm leaders
in addition to the cash payment grace received warrants to buy up to 475 pct of the new company and has reinvested about 19 pct of the proceeds in debt of the new firm
the company said first railroad had loan production of over 100 mln dlrs in 1986 and was servicing over 435 mln dlrs in loans at the end of 1986
analysts said comments by the company at an analysts meeting tuesday helped fuel the rumors as did an announcement yesterday of management changes
staley sta sells interest in spanish venture
computer microfilm corp comi year net
the company purchased the 199 pct parcel in early march from amax inc amxn at 632 dlrs a share ahead of a one for three bonus issue when amax sold its entire 47 pct stake in acm to a number of local companies
salvino also said steadier crude prices and the reduced rate of refinery production should increase product prices and lead to a return to more normal profit margins
southtrust sotr to acquire four banks
shr loss 22 cts vs loss 18 cts net loss 2494000 vs loss 1608000 revs 3590000 vs 1710000 year shr loss 68 cts vs loss 53 cts net loss 7318000 vs loss 4160000 revs 10503000 vs 7134000
this affected its load factor fear of possible competition from fledgling carrier hong kong dragon airways ltd may have contributed to cathays decision to resume service to new zealand last year analysts said
paper will be issued by nec industries netherlands bv under the guarantee of nec corp
this is about the same as at the begining of the year
growth was highest in portugal at five pct while in greece output contracted by 03 pct eurostat said in a statement
financial corp of america said it is not holding discussions with anyone regarding a buyout of the company
capel handled the deal
the united states has signed a public law 480 agreement with honduras to provide for the sale of 120 mln dlrs worth of us agricultural commodities the us agriculture department said
bank of england drains money market liquidity
us first time jobless claims fell in week
french economic council pessimistic on 1987 growth
the business comprised two 6000 tonne cargoes for march 15 april 15 shipments at 355 dlrs per tonne cif and 6000 tonnes for may at 358 dlrs
it said the acquired division now known as merrill seattle becomes the companys 10th financial printing service center
tidewater inc said it completed agreements to restructure about 125 mln dlrs in debt that call for payment of interest only through march 1989
s and p said the downgrade reflected lanesboroughs planned purchase of ampex corp from allied signal inc ald for 479 mln dlrs
its a growing field
eurocity will also operate flights to duesseldorf and rotterdam
goldman sachs in zurich organized and co led an issue for the swiss branch of banque indosuez on march 9 and last night morgan guaranty switzerland ag did another for morgan guaranty trust co of new york
dutch official warns of more trade conflicts
rio grando do sul state passo fundo nil santa maria 70 millimetres cruz alta 85 mm sao luiz gonzaga 44 mm
the senate agriculture committee was expected to consider proposals that would limit adjustments in county loan rate differentials which trigger larger corn and wheat acreage reduction requirements senate staff said
by march 10 only 230000 bags had been shipped the sources said
reference new york grain freights 2 of april 8 they say the cory grain maize business from east london at 22 dlrs is to japan and not to spain as reported
in its semi annual report the oecd said portugals total domestic demand growth would decline from 76 pct last year to five pct in 1987 and 375 pct in 1988 as slower wage growth restrained private consumption
corrected goodyear gt to sell celeron
kindness nv a bahamas based firm owned by uk investor and bahamas resident john templeton said it has acquired 137900 shares of hausereman inc or 59 pct of the total outstanding common stock
it said it asked its investment advisor bear stearns and co to advise its board on the offer
triton energy oil affiliate in canadian find
the first phase of the plant located in qinghai province will have an annual capacity of 100000 tonnes of ingots half the capacity of the finished plant
however moodys noted that the combined company would benefit from cost reductions and consolidations made possible by the merger
i expect exports will be a bit more maybe 330000 tonnes but not above that he said
gencorp 1st qtr shr 77 cts vs 84 cts
it closed yesterday at 60800 30
it sufficed to tell the market where central banks saw exchange rates over the next few years and intervention points should not be set because they were only testing points for the market he said
spotty germination and winterkill in those fields averaged 10 to 30 pct it said
the previous weeks m 1 level was revised to 7386 billion dlrs from 7385 billion while the four week moving average of m 1 rose to 7371 billion dlrs from 7368 billion
atlas yellowknife ayto six mths loss
the icch said the value of the contracts traded in february was 290 billion nz dlrs
the bank said that it would not sell by any method stock of the same type as that to be auctioned between the time of the announcement of auction details and a period ending 28 days after the auction itself
the participation certificates fell to 43 francs from 4550
the ec gathering begins tonight with a dinner but the main discussions will take place tomorrow
estimates of the total volume of the sunflower crop were revised downward in light of the bad weather
the commodities are for delivery during the current fiscal year ending this september 30 it said
the failure of the international coffee organization ico to reach agreement on coffee export quotas could trigger a massive selloff in london coffee futures of at least 100 stg per tonne today coffee trade sources said
the toy manufacturer attributed its anticipated lower financial results to an an expected moderate decline in shipments of its pound puppies product line
hre said in the first quarter ended january 31 it earned 38 cts per share down from 47 cts a year before
year on year private sector credit psc grew 3107 pct in january against 3064 pct revised from 3068 in december and 2140 pct in january 1986
the payment date is april 15
the bond will be listed in luxembourg
net includes extraordinary loss 10000 dlrs vs nil in quarter and loss 10000 dlrs vs profit 106300 dlrs in half
it said results outside the northeast were strong and it expects to show improved results for the rest of the year
exchange rate bill clears us house panel
shr 177 dlrs vs 60 cts net 582 mln vs 194 mln revs 3774 mln vs 1880 mln nine mths shr 310 dlrs vs 151 dlrs net 1003 mln vs 506 mln revs 111 billion vs 6397 mln note 3rd qtr 1987 net includes about 3000000 dlrs after tax extraordinary gain on retirement of debt
api says us crude oil ouput off from year ago
as part of sale eskey said the buyers will assume the 145 mln dlrs of publicly held eskey 10 3 4 pct debentures due 2003
the fundamental problem the size of the us federal budget deficit could be remedied only by cutting government spending or encouraging personal savings to finance the debt it said
ideally youd have to break this thing up to satisfy all the interests involved he said adding the two largest shareholders might be interested in pieces of taft
the introduction of december into the calculations may lift the daily sdr price as december is currently quoted about 75 stg above may on the london terminal market
last year irish yields were the lowest for 10 years due to late sowings and the state run irish sugar plc said the 1987 plantings target is the equivalent of 36400 hectares down from 37600 in 1986
west german finance minister gerhard stoltenberg and us treasury secretary james baker reaffirmed their commitment to currency stability at a secret meeting yesterday in frankfurt according to official statements released late monday
indonesia the worlds second largest palm oil producer earlier denied it had granted palm oil import licences
disposable personal income in february after taxes was up 12 pct or 378 billion dlrs to 30634 billion dlrs after rising 258 billion dlrs in january
the bulk of the house trade bill was written last week in four committees
registered unemployment in february was 298 mln people or 215 pct of the workforce
1986 net excludes extraordinary loss 1167000 dlrs in quarter and gain 628000 dlrs in year
banks had been invited as lead managers at 200 mln dlrs managers at 125 mln and co managers at 75 mln
gulf money markets have grown reasonably well during the past decade but bond and stock markets remain to a large extent fragmented and lag behind gulf international bank bsc gib said
there is nothing apparent from the change said william oneill director of futures research at elders futures inc
it said it is looking at a number of financial options for increasing shareholder value but did not elaborate
honeywell hon completes computer business sale
the source close to the top levels of japanese economic policymaking said japans understanding of the accord was that the yen would be kept at around 154 to the dollar the level it stood at when the accord was struck
today may futures in new york settled at 10790 cents a lb
he said the decision to withdraw was made about 11 days ago before the market was battered by a loss of confidence which resulted in sizeable losses in these securities
commercial union assurance cuacl a composite insurance company in the uk said it is arranging a financing facility totalling 750 mln european currency units ecus which will now include a medium term note program
s p may downgrade afg afg and gencorp gy 
currency target zones or reference ranges will not be discussed at the g 7 meeting which is scheduled for tomorrow the japanese officials said
finlands gross national product is expected to rise by three pct in 1987 against two pct in 1986 and inflation will be unchanged at about 35 pct the private business survey office etla predicted
picnsave corp picn 4th qtr net
ended january 31 shr nil vs nil net profit 351000 vs loss 243000 sales 7050000 vs 7012000 avg shrs 106780000 vs 93666000 six mths shr loss one ct vs loss one ct net loss 999000 vs loss 563000 sales 106 mln vs 130 mln avg shrs 106641000 vs 92986000
the bottom for yen bonds should be around a 63 pct yield for the 51 pct 89th bond they said
besides contracts and orders for plant and equipment they were building permits manufacturers new orders for consumer goods a change in sensitive materials prices slower deliveries from vendors and higher average weekly claims for state unemployment insurance
lead stocks held by us refiners rose to 37295 short tons at the end of february from 34224 short tons revised higher at the end of january the american bureau of metal statistics reported
we got almost a one percentage point reduction he said
dome mines ltd dm 4th qtr net
harvesting in areas not actually under water could also be further delayed due to dampness in the earth the sources said
production by the company taiwans largest steel maker is expected to rise to 333 mln tonnes from 327 mln a spokesman told 
american television was spun off from time in august 1986
all dividends are payable march 31 to shareholders of record march 25 the company said
national gypsum co a unit of aancor holdings inc said it filed with the securities and exchange commission an amended registration statement covering up to 300 mln dlrs of 10 year priority senior subordinated notes
but cathay pacific recorded sharp increases in net finance charges to 1249 mln dlrs from 444 mln a year
swiss foreign exchange dealers described the national banks purchases as modest perhaps amounting to no more than 20 or 30 mln dlrs
health and rehabilitation properties trust said it declared an intitial dividend of 55 cts per share for the period ending march 31 1987 the dividend will be payed may 20 to shareholders of record on april 20 the company said
sharon steel corp said it extended from march six to march 31 the expiration date for its debt exchange offer to allow time to complete the sale of its mueller brass co unit and to meet other conditions of the offer
exports in 1986 87 season at 700 vs 700 last month
on june 12 1986 the utility sold 125 mln dlrs of same rated nine year securities priced to yield 854 pct or 58 basis points over treasuries
the final fourth quarter revision however left unchanged the previous estimate of a 25 pct increase in gnp for all of 1986 over 1985
png enjoys the most liberal tax regime in the region with no secondary taxes fesharaki said
loan losses which the bank previously said figured in its move to sell off most of its assets rose to 1057 mln dlrs in fiscal 1986 from year earlier 361 mln dlrs
at the same time gros told reporters not to expect any dramatic developments before march 31 the date when some us banks have said they will take a decision whether to put brazil loans on a non performing basis
turkish trade deficit widens in 1986
but is there a risk yes the mood out there is pretty nasty one new york banker commented
sayads resignation might foreshadow other changes in the brazilian cabinet
alc alcc anticipates 1st qtr profit
nalco chemical corp nlc 3rd qtr net
qtly div eight cts vs eight cts in prior qtr payable april 30 record april 15 company said its board intends to declare cash dividends quarterly and plans to pay a five pct stock dividend annually following the close of each fiscal year
air products and chemicals inc apd in payout
turkish banks announce higher profits for 1986
the first significant pickup in drilling activity will occur in the second half of 1988 kerridge said
pay date is april 6
nippon steel invests 8 mln dlrs in gtx corp
i would be willing to sell cyprus and buy phelps dodge if i were picking one copper stock he said
his trip to north america is part of his attempt to meet farm policy leaders in the key gatt member states
the obvious suspicion is that there has been some kind of fraud or theft said ralph shulansky senior vice president of ames
carolina power cpl cancels generating unit
unicorp a management and investment holding company controlled by its chairman george mann said it sold 675900 purolator common shares on march 2 and 3 at 34782 and 34750 dlrs a share
zambia has cleared its arrears to the imf for 1985 with a 145 mln dlr bridging loan from standard chartered bank central bank president leonard chivuno said
standard and poors corp said the merger agreement between fleet financial group and norstar bancorp inc would not affect the firms current ratings because the merger cannot take place until july 1988
mathematical applications said it is talking to debenture holders its landlord a lessor of equipment to the marketing operation and holders of liabilities pages is not assuming to arrange distribution of assets after the proposed sale adding these assets will be significantly less than its liabilities
the bank said in a statement that from april 2 banks bidding for foreign exchange would have to pay at the rate they offered and not as presently at the rate of the lowest successful bid made at the auction
in its weekly petroleum status report the energy department agency said distillate demand was off 01 pct in the period to 3258 mln bpd from 3260 mln a year earlier
dealers said the bank of japan is intervening in the market through both banks and brokers this afternoon
ohio edison said the proceeds will be used to finance the rest of its 1987 construction program and repay bank loans incurred for the retirement of high interest long term debt
uganda plans to export roasted coffee to europe
hoechst ag unit to raise 500 mln dlrs
economists said that upward pressure on import prices as a result of the dollars drop as well as the volatile energy component warrant attention in case gains in these areas become factored into the wider economic picture
seger said that with the recovery stumbling along the pace of the economy and the lack of robustness must be factored into monetary policy possibly a signal that the fed will be accommodative
sosnoff said the talks with pratt and southmark are not being actively pursued at the presentand may or may not be continued in the future
baton broadcasting inc six mths feb 28 net
apparently they are willing to continue discussions but whether they will alter their position i dont know
officials said they hope to persuade reluctant countries to release the study soon perhaps coinciding with the oecd ministerial meeting in paris during may
the company said for each comdata share it would exchange half a first data share and enough cash to bring the total value up to 18 dlrs per share provided that the market price of first financial stock were not less than 28 dlrs per share
last week the bank offered 400 mln dlrs of 13 week notes and 100 mln dlrs of 26 week notes
shell francaises berre letang refinery will shut down in early april until mid june a company spokesman said
european industry and trade advisers have suggested as a compromise that the buffer stock have a maximum share that can represent non member cocoa and that it use the london futures markets existing differentials for different qualities
analysts said that the move by bp had come as a surprise
exports were 1120 billion against 1136 billion
first commercial bancorp said it will acquire the three branch citizens bank of roseville in a stock swap
he has tremendous prestige to run the company diaz said
banking sources said anzola differed with the finance ministry over economic policy particularly over the direction of interest rates
the narrow measure m0 fell a provisional adjusted 3 4 to one pct after a 06 pct drop in january the bank said
allied signal incs 497 pct owned union texas petroleum co affiliate said it has restated its fourth quarter and full year losses and revenues to increase the provision for the proposed settlement of a price dispute involving indonesian liquefied natural gas
atlantic research atrc completes acquisition
the statement added that the threat to free and safe navigation had increased after the missile attack on a us flagged tanker in kuwaiti territorial waters last friday
speaking to the san francisco chamber of commerce clausen said that during the coming months at the appropriate time we will be placing or underwriting for equities we do need to improve our capital
last week dealers said the federal reserve intervened to stop the dollar rising against the mark which had breached 186 to the dollar
consumer demands for tighter buffer stock controls aimed at preventing inra from following the collapse of the international tin agreement ita were rejected by producers who argued for unchanged inra terms
chronar corp said it signed a joint venture agreement with rade koncar a yugoslav maker of electric energy equipment to build a 12 mln dlr one megawatt photovaltaic manufacturing plant in split yugoslavia
i think that thats exacerbated exaggerated this decline and i think its something that they must stop he said
venezuela lowers exchange rate for oil earnings
opec production curbs have boosted world oil prices from a 13 year low of around eight dlrs a barrel last august to near 18 dlrs after announcement of the december pact
growth in us consumer spending is likely to slow to 18 pct this year from 41 pct in 1986 he predicted
the securities are guaranteed by the parent company household finance corp and are available in denominations of 1000 and 10000 dlrs each
asked if south korea would retaliate against us goods if congress closed us markets to its products he said at this moment we have no thought of retaliation south korea is a major exporter to the united states of textiles and apparel and electronic goods such as television sets video cassette records and personal computers
for japan to achieve three pct growth in 1986 87 gnp in the january march period would have to grow 26 pct from october december the officials said
unocal last changed its crude postings on march four and brings it price in line with other major companies which have been raising prices steadily in recent weeks
in addition its other key business general cinema beverages is expected to achieve record operating results for the full year smith said
their maturity will be set at the pricing
salant qslt files reorganization plan
manufacturing activity showed signs of improvement in most regions except dallas where orders remained sluggish
base lending indicator rates of the other three trading banks range between 210 pct and 215 pct
malaysia optimistic over economic outlook for 1987
they said standard oils brightest asset is its slightly more than 50 pct ownership of the alaskan prudhoe bay oil field
cnt issues 20 billion yen eurobond
we expect to maintain an adequate level of liquidity through 1987 it said
he said the bank would have to come back to congress later this year to discuss its capitalization needs
gemcraft inc gemh year net
pioneer group piog unit gets more land
g 6 is comprised of us britain france japan west germany and canada
morgan also will offer 8960 mln dlrs of floating rate class j 2 bonds to be fully paid by 2013 priced at par to yield three month libor plus 045 pct
ibm australia credit issues aus dlr eurobond
shr nil vs four cts net 12000 vs 140000 revs 4446000 vs 3998000 avg shrs 4364000 vs 3461000 year shr 60 cts vs 22 cts net 2257000 vs 774000 revs 183 mln vs 211 mln avg shrs 3788000 vs 3461000 note net includes realized gains on investments of 50000 vs 105000 for qtr and 174000 vs 202000 for year
it has agreed to exchange newly issued shares equaling 80 pct of the aggregate issued to acquire hemdale
fisher said 5300 had announced on april 20 that they would make a decision on june 1 about the move
london ore enquiries fixtures
the us economic growth rate is expected to edge up to 275 pct next year from 25 pct this year and last
the company which owns 58 pct of daily telegraph plc said it named former carling okeefe ltd chief executive pierre des marais as chief executive of la societe media quebec the unit acquiring unimedia
in comments on its export sales report the department said sales of 10 mln tonnes to the ussr previously reported under the daily reporting system were the first sales for delivery to the ussr under the fourth year of the us ussr grains supply agreement which began october 1
presidency minister patricio quevedo said the budget would be cut by five to 10 pct government hiring would be frozen and salaries of top officials including the president and cabinet would be reduced
tender loving care said its payment to norrell will include 1950000 dlrs in cash and five mln dlrs of a new series of eight pct tender loving care convertible preferred
we are free to do it so maybe on monday we will issue the first just to see how the system functions
tmoc resources ltd told shareholders not to accept santos ltds stoss 400 dlr a share takeover bid pending advice from macquarie hill samuel corporate services its corporate advisor
shr loss three cts vs profit 16 cts net loss 119000 vs profit 637000 revs 175 mln vs 158 mln
mellon said it will make a provision for loan losses in the first quarter of 175 mln dlrs reflecting about 95 mln dlrs in charge offs and 80 mln dlrs in additions to the loan loss reserve
this operation was coordinated with the japanese monetary authorities and was funded equally by the fed and the us treasury
great gami to buy standard srd units assets
top executives with tenneco corp tgt and sabine corp sab said they expected world oil prices to gradually increase over the next two years as us reliance on imports of oil from the middle east grows
national sea products ltd 4th qtr net
general electric ge sells notes at seven pct
shr loss 207 dlrs vs profit 36 cts net loss 1088000 vs profit 187000 year shr loss 1223 dlrs vs profit 17 cts net loss 645000 vs profit 89000 note home federal savings and loan association of the rockies
norways oil minister arne oeien currently in iceland for a meeting of nordic ministers has made no official statement on the latest oil production cutbacks
haynes said prospects for the companys petroleum products division are more promising than before but are still uncertain
brokers have to push their clients somewhere and technically the pound is in the best shape painewebber analyst jason gillard said
prime minister yasuhiro nakasone sounded a conciliatory note in japans increasingly bitter row with the united states over trade in computer microchips
gallaher is not quoted on the london stock exchange
mcdonnell douglas md buys computer firm
coface suspended its cover for medium and long term export contracts with nigeria in 1983 but maintained its cover for current trade deals involving consumer goods with six month credit periods coface sources said
commerce bank said because of market uncertainties it used an estimate of 6000 mln dlrs for fiscal 1987 loan losses in calculating first quarter results
credit fonciers 150 mln european currency units ecus of 7 5 8 pct eurobonds due 1994
medium term euronotes had previously only been issued in us dlrs it said
citing recent eia statistics german said the gas surplus was likely to contract from three trillion cubic feet in 1986 to two trillion cubic feet in 1987 but the surplus would not go away until 1990
pillsbury is assuming that they soviets will be offered a subsidy and that it will be a subsidy that they can respond to hoffman told in an interview at an agribusiness education conference here
fuller was formerly president of mr
liabilities in gold or foreign currency rose 200 mln to 119 billion guilders
phillips estimates that the project which is expected to cost 15 billion dlrs will increase recovery by 170 mln gross barrels of oil over a period of 24 years
iranian prime minister mir hossein mousavi said iran had more effective missiles at its disposal than the shore to sea missiles which had provoked us concern tehran radio reported
baker darman said was committed to stabilizing currencies at current levels
meanwhile the shearson lehman treasury bond price index edged up 04 pct
johnson matthey today issued the following platinum group base prices unfabricated all us dlrs per troy ounce
it said it hoped to narrow its trade deficit with japan to two billion dlrs by 1991
shr 38 cts vs 92 cts net 1042000 vs 2510000 revs 206 mln vs 296 mln
previously the initial monthly figure has had to be revised in subsequent months because of the time lag between the report and the compiling of final estimates on imports and exports
pakistan allows private cotton rice exports
it will turn out 4000 tonnes in 1987 the paper said but gave no more details
partly offseting these outflows a fall in note circulation and exchequer transactions will add some 355 and 55 mln stg to the system respectively
separately the newly formed holding company also said it named arie guldemond as chairman and harold allmacher as president and chief executive officer
alltel at debentures yield 890 pct
it also announced a number of measures to ease hardship including higher pensions and family allowances
anything less than that will now look like a failure to wall street the budget plan now under debate on the house floor would lower an estimated 171 billion dlr deficit for the year beginning on october one to about 133 billion dlrs by cutting defense and domestic programs by 38 billion dlrs from their anticipated spending levels for next year
the government has sacked about 20000 miners from its deficit ridden corporation since the collapse in the international price of tin
foster fwc unit audit reveals discrepancies
the deal is available in denominations of 5000 dlrs and will be listed in luxembourg
eurofima of basle is launching 40 mln swiss francs of six year notes with a 4 3 8 pct coupon and 10025 issue price lead manager zurich cantonal bank said
beyond options and futures other changes being suggested include replacing the federal governments current bond consortium with an auction procedure similar to one being considered in the uk and already in practice in the us this would upset the existing market order providing german and foreign banks in the consortium with fixed quotas but it would eliminate the misallocations some bankers say presently arise within the fixed consortium quota system
mueller said the cuts in official interest rates had put an end to interest rate speculation
shr 10 cts vs 14 cts net 191465 vs 193799 sales 7160945 vs 6576670 avg shrs 2000565 vs 1400000 year oper shr 33 cts vs 50 cts oper net 605725 vs 694785 sales 233 mln vs 221 mln avg shrs 1840692 vs 1400000 note 1985 year net excludes 30000 dlr tax credit
a house banking subcommittee approved legislation which would require the treasury secretary to begin negotiations on the establishment of an international debt adjustment facility
ortiz mena says commercial banks must renew lending to the region if debtors are to grow and repay creditors
sosnoff also said he has held preliminary talks with pratt hotel corp prat and southmark corp sm on forming a joint venture to enter into talks to acquire caesars in a friendly transaction in which sosnoff would have a 50 pct interest and pratt and southmark the remainder
evergreen has a fleet of 66 container vessels totalling more than two mln dwt the spokeswoman said
an investor group trying to acquire gencorp inc said it would move to unseat the board of directors and take other action if gencorp refuses to discuss a 23 billion dlr takeover bid
a spokesman for the mining house said the action started on wednesday last week when thousands of miners staged a go slow at one underground shaft of the free state geduld division of free state consolidated gold mines ltd fscnj the action later escalated into an underground sit in at the mine over the weekend prompting management to close the affected shaft because of what the company described as the creation of unsafe working conditions anglo american spokesman john kingsley jones said the company held talks with the national union of mineworkers num south africas biggest trade union which claims a membership of 360000 black workers but failed to establish the cause of worker dissatisfaction
speed o print business sbm 4th qtr net
stoltenberg had said in paris that part of this reform which will cut taxes by a gross 44 billion marks would be introduced next year ahead of schedule
old stone is a rhode island based financial services company with assets of 39 billion dlrs
it said its sales for this year are projected to be over 10 mln dlrs
pesch who led the leveraged buyout of republic health corp last year continues to face a credibilty problem on wall street because of the long time it took to finish the republic acquisition
rugby well prepared for new cement competition
kramer said the current account was likely to run a deficit of about four billion schillings compared with a 26 billion surplus recorded last year
the usda later released the state by state breakdown of the enrollment figures
us business loans fall 896 mln dlrs in june 10 week fed says
to be eligible for the credit guarantees all sales must be registered before export but not later than september 30
coast savings and loan association said it is in talks with the federal savings and loan insurance corp on the acquisition of central savings and loan association of san diego
west german industrial production seasonally adjusted rose a provisional 32 pct in february after a downwards revised decline of 34 pct in january the economics ministry said
bra kanon held private bilateral consultations with major producers and consumers this morning to resolve outstanding differences mostly on the issues of how much non member cocoa the buffer stock can purchase and price differentials for different varieties
delivery will be determined in the course of the year
fiat convertible bond option under study
interest rates are down across the spectrum reagan said
mtech mtch files convertible debt offering
the convention which was approved by banks earlier this month replaces an earlier convention dating from 1984 and deals with what had been widely seen as an increasingly anachronistic distinction between notes and public issues
however the other portion of the security in which the investor pays 20 cents on the dollar for a zero coupon 15 year bond is of dubious value unless the westpac perpetual assumes a market value near par 15 years from now traders said
but because the kobe exchange uses the auction system which sets a fixed price at each session the price of contracts traded overnight should be a fixed price settled at the sixth session he added
ec us remain divided over pasta dispute
securities and exchange commission chairman john shad said progress was being made in stopping insider trading but the chairman of a house subcommittee with jurisdiction over securities laws said he was concerned about conditions on wall street
baka said he stressed poland would meet its financial obligations to the us but not in a short time and not without major changes in the polish economy as well as a cooperative stand on the part of its foreign economic partners since poland rejoined the imf last june after a 36 year absence imf and world bank teams have visited warsaw on fact finding missions on at least three occasions
it was the largest inventory rise since july 1979 when inventories were up 17 pct
earnings from mobils upstream operations in 1986 were 827 mln dlrs down 54 pct from the previous years 18 billion dlrs in earnings
the mmtcs recent countertrade deals include iron ore exports to yugoslavia for steel structures and rails
the move is likely to create a sharp price rise and a possible shortage of the key computer components in the next few weeks the analysts said
the plant should be completed in 1989 and will employ about 200 people
however earnings were satisfactory it said without giving absolute figures
the commodity credit corporation ccc has accepted a bid on an export bonus to cover the sale of 8000 tonnes of barley to cyprus the us agriculture department said
he said the city was willing to use commercial loans to finance technological improvements to factories which could show a quick return in increased exports and foreign exchange earnings
mark iv industries inc iv which has said it may consider a bid to seek control of baird corp said baird has not agreed to hold off on any defensive measures without giving mark iv at least 24 hours notice
turkeys trade deficit rose to 365 billion dlrs in 1986 from 339 billion in 1985 following increased imports from western countries figures from the state statistics institute show
pinnacle west capital corp said its malapai resources co units bought the mineral rights for uranium mining on about 21000 acres in northern wyoming from westinghouns electric corp wx the property is adjacent to a 34000 acre site the company already owns
baldrige sees us trade gap dropping soon
it said surcharges on shipments of all break bulk cargoes to non iraqi arab ports would be reduced to 30 pct from 45 a conference spokesman declined to say why the move was taken at a time of heightened tension in the gulf
hard hit by the collapse in oil and texas real estate prices first citys net loan chargeoffs totaled 366 mln dlrs last year up from 261 mln dlrs in 1985
the us agriculture department detailed world supply demand data for major importers and exporters of cotton by country as follows in mln 480 lb bales china cotton 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 1600 1830 1940 1980 production 1630 1630 1900 1900 imports x x x x domes use 2100 1750 1950 1750 exports 230 250 290 290 end stocks 905 1455 1600 1830 x less than 5000 bales pakistan cotton in mln 480 bales 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stocks 107 107 105 105 production 610 610 567 567 imports x x x x domestic use 250 250 234 234 exports 300 300 315 315 end stocks 151 151 107 107 x less than 5000 bales
in a release standard and poors said the action reflected a change in the note issues terms to an unsecured form of debt from secured
no date for an offering was announced
it said a spermicide used in inkeys condoms contains an ingredient that may help prevent the sexual transmission of aids
westworld community health wchi 4th qtr loss
the debentures have an 8 7 8 pct coupon and were priced at 99726 to yield 135 basis points over the off the run 9 1 4 pct treasury bonds of 2016
hungary devalued by a similar amount last september and by between three and four pct early last year
canada corn decision unjustified yeutter
it granted export licences for 123000 tonnes of free market barley at a maximum rebate of 13875 ecus per tonne and 25000 tonnes of maize at a maximum rebate of 13375 ecus they said
the government of president victor paz estenssoro has streamlined the deficit ridden state mining corporation laying off about 20000 miners two thirds of the workforce following a collapse of the international tin price in 1985
from the parent net profit 60 mln marks would be placed in published reserves unchanged from the two prior years
morgan stanley said the weyerhaeuser preferred stock will not be redeemable prior to june 15 1989 unless the closing price of the common stock reaches or exceeds 150 pct of the then effective conversion price for at least 20 trading days within 30 consecutive trading days that end within five trading days prior to the notice of redemption
usda us 1986 87 ending corn stocks 5240 mln bu wheat 1848 mln soybeans 610 mln
the key to a stronger dollar lies in the united states itself leutwiler said
california biotech cbio sees 1st qtr loss
the bundesbank left credit policies unchanged after todays regular meeting of its council a spokesman said in answer to enquiries
shr and avg shrs data reflect 1 for 25 reverse split in november 1986
but passenger load factor was down to 691 pct from 710 pct
sweet crude at 2560 dlrs canadian bbl
dart also released a copy of a lawsuit that was being filed by an sgl shareholder seeking to stop sgl from taking such actions as paying greenmail or enacting a poison pill defence
the agreement also calls for bally to pay trump another 62 mln dlrs for certain agreements claims and expenses related to his purchase of the bally common stock bally said
the trade show is being changed into a new international event called the world pork expo
reynolds said the company expects to book an after tax gain of 250 mln dlrs from the sale of wor tv
qtly div 20 cts vs 20 cts previously pay june eight record may 22
as a result it said the stock will become marginable
chris dunn economist at royal bank of canada said the remarks may signal a decisive move to insulate sterling from the fortunes of the dollar
albertsons abs adopts stockholder rights plan
general host corp gh sets quarterly
we explained that the process of restructuring the economy away from its dependence on exports toward a balance between domestic and external demand would take time saito said
grandview acquires control of uk ticket group
avx corp said it filed with the securities and exchange commission a registration statement covering a 75 mln dlr issue of convertible subordinated debentures
spain gives cuba 25 mln dlr credit line
we believe this is a package that will help argentine to continue on the track it has elected to follow stable growth and equilibrium in the external accounts he said
standard and poors corp said it may downgrade chi chis incs 50 mln dlrs of b plus convertible subordinated debentures due 2009
lewis of phillips and drew said he too believed the national savings issue suspension may reflect new uk treasury policy to point building societies towards a mortgage rate cut
baker international to sell electric submersible oilwell pump unit
brannam a discount apparel chain
in addition the state faces the problem of inadequate investment by farmers in land and in grain in particular
miami brazil says it expects to make no interest payments before march 31
cpi corp said it expects to post higher sales and earnings for its fiscal year ended february 7 when it officially reports results in three weeks
following the merger the two companies saw significant opportunities for growth in brokerage income and considerable scope for improved operating efficiency
many economists are less optimistic predicting growth will likely be in the 20 to 22 pct range
s p downgrades chase chemical irving manufacturers mellon and security pacific
the london stock exchange has no immediate comment on the us insider trading charge against a senior london executive of merrill lynch and co an exchange spokesman said
media general inc said it raised the annual dividend on its class a and class b common stock to 68 cts a share from 64 cts
national semiconductor corp said improved results at its semiconductor group helped reduce losses in the third quarter and nine months
dumez has 478125 united westburne uwito shares
it said the debentures will be redeemable for 109094 dlrs including accrued interest for each 1000 dlrs principal amount
the company said phoenix financial now has a 27 pct interest in data access and effective control
evergo officials were not immediately available for comment
commerzbank ag cbkgf management board chairman walter seipp said that from the present viewpoint the bank must expect 1987 full operating profit to be lower than in 1986
it expects to raise another 40 mln ecus soon through a french fund and a fund for us investors
the aid donors and commercial bank creditors would then be asked to finance any gap on a shared basis
more than half of januarys 170000 increase in jobless from a year earlier were those aged between 15 and 24 sumitomos tsukihara said
burgess said usda will probably narrow back the gulf differentials when and if gulf prices recede
brazilian finance minister dilson funaro on the third leg of a trip to explain his countrys stance on debt to european governments met west german finance minister gerhard stoltenberg for talks this evening and the two men were continuing their discussions over dinner brazilian delegation sources said
pacific basin to acquire 51 pct of team 
if it were to receive fewer shares than that it said it would only purchase sharesd with the consent of purolator
arco arc up on higher earnings estimate
ctc which already holds 174 pct of canadian tire common said it would therefore not take up any shares tendered under its offer unless they totaled at least 11 mln or another 327 pct of canadian tire common
the bank which offered six mln dlrs at the auction reported demand for 134 mln dlrs
this may not occur if private sector demand for credit remains weak but demand could emerge if rates begin rising
hungary to devalue forint against western units
the automaker sold the am general unit to ltv corp qltv in 1983 the same year it was awarded a five year 12 billion dlr procurement contract with the military
the facility is underwritten up to 75 mln dlrs at a maximum of 175 basis points over the london interbank offered rate
the world bank said it approved a 974 mln dlr loan for china to help boost fertilizer output in order to increase agricultural production
these figures are 42 to 55 pct higher than last seasons record of 72 to 73 mln tonnes according to private sources and 56 to 85 pct up on the official 71 mln tonnes
standard and poors corp said it cut to ccc plus from b minus lanesborough corps 50 mln dlrs of senior subordinated notes
day said the agreement is subject to the preparation and negotiation of a definitive agreement and the ability of the group to obtain financing
proceeds will be used primarily to retire short term debt finance possible acquisitions and fund investments in or extensions of credit to its subsidiaries the company said
conference sources said it is highly unlikely that producers will accept a pact that will provide for any possible downward adjustment of the floor price as proposed by consumers under certain circumstances
the group which includes mutual shares corp said it bought the stake for 53 mln dlrs for investment purposes and has no intention of seeking control of unicorp american
national bancshares nbct to have gain on sale
shipping sources said however that these claims could soar if a court found there was negligence or design faults involved
bayer usa inc said sales of its affiliated operating cmpanies based in the us increased in 1986 by 44 pct from the previous year
full name is consolidated captial income opportunity trust 2
exchange rate bill clears us house panel
the industry said the mercury was being sold at more than 40 pct below prices charged by ec producers forcing them to cut their prices to levels that no longer covered costs
mccormick told reporters the isda was concerned that a level playing field be maintained in the swaps market
this should be followed by a gradual reduction in cfc volume until no cfc gases are released into the air he said
usda estimates south africa corn crop exports
they are using force and we are using peaceful methods port sources said only two brazilian ships in santos the docemarte and the henrique leal were working
the company which obtains usda approval for the proposed price must inform the department before 1330 gmt they said
finance minister palle simonsen said todays downgrading of denmarks credit rating by standard and poors corp should not be over dramatised
fed not expected to take money market action
the company said it would sell all of its businesses other than the american air filter business make a public financing of more than 100 mln dlrs and pay part of the currently outstanding debt with the proceeds
its total help so far today amounts to 1713 billion stg
prior to the acquisition gartner group owned one third in the comtec partnership it said
a european commission spokesman in brussels earlier confirmed that one mln tonnes of sugar had been offered to intervention boards in various member states
the differentials could be reviewed at the request of a member country or recommendation of the buffer stock manager the delegates said
nigeria britain to reschedule official debt
peoples ban corp said it expects to report first quarter earnings of over six mln dlrs including a gain of 1600000 dlrs from the settlement of a dispute with the internal revenue service and the sale of four banking offices in vancouver wash
trus joist tjco to acquire canadian firm
the complaint seeks among other things to enjoin the tender offer and to require mts and sosnoff to correct false and misleading statements in the offer
they will expand their operations only gradually a typical way for japanese business a foreign merchant banker also noted there are not many mega deals left to do in the united states
the specialty steel industry of the united states and the united steelworkers union said in statement that imported steel was still flooding the domestic market and continued curbs were needed to restore the industrys health
this would limit the inflationary impact of intervention he said
lennar len completes acquisition
liro said the economy is showing moderate growth and does not require immediate policy easing and the money aggregates may well end march at the bottom of their target ranges
the smoothed seasonally adjusted deficit on invisibles was 234 mln nz dlrs against 236 mln dlrs in march and 255 in april 1986
assistant us treasury secretary david mulford said recently the reluctance of small banks at one point endangered the entire mexican package
it earlier reported that operating profit for first quarter ended january 31 fell to 273000 dlrs from 17 mln dlrs the previous year
listing will be on all eight west german exchanges
utilities said it has the financial commitments required to ensure that pennsylvania enterprises facilities would be upgraded to insure an adequate supply of safe drinking water
guardian trustco sees modest 1987 outlook
first commercial bancorp fcob 4th qtr loss
shr one ct vs nil net 32345 vs 3772 revs 9946578 vs 5939252
a total of 100 mln stg of treasury bills was offered for sale this week
gnp rose 156 pct between the first quarters of 1987 and 1986 according to provisional bank of korea figures
loans extended by finance companies rose to 477 billion dlrs from 474 billion in december and against 534 billion in january last year while deposits placed with them dropped to 468 billion against 489 and 479 billion
fees comprise 85 basis points for selling with 70 for management and underwriting
the cash tender offer was for up to 328 mln shares at 4675 dlrs net per share
british printing said it filed the suit after consultation with its advisers
elsinore corp said it deposited about 233 mln dlrs with trustee manufacturers hanover trust co to cover accrued and unpaid interest on the 15 1 2 pct senior mortgage bonds due 1999 of its unit elsinore finance corp
it also said its expects to see opportunities in the building products area particularly in composite panels and in other engineered products directed toward specific rather than commodity end use markets
cable and wireless details merger of hk units
ascensao said the court ruling stated that epacs participation in the public tenders violated the clauses of portugals ec accession treaty dealing with the gradual dismantling of the state agencys import monopoly
with oil prices recovering saudi arabia went ahead at the turn of the year with long delayed budget plans incorporating a 527 billion riyal deficit to be bridged by drawing down foreign reserves
chrysler overseas capital corp said it authorized redemption on april 17 of its 4 3 4 pct and five pct convertible debentures due 1988
shr loss 251 dlrs vs loss 112 dlrs net loss 1042 mln vs loss 464 mln nine mths shr loss 580 dlrs vs loss 52 cts net loss 2409 mln vs loss 217 mln note 1987 qtr and nine mths includes loss 1236 mln dlrs and 2860 mln dlrs respectively for loan loss allowance provision
during march last year privately held marcor acquired a controlling interest in f and m importing divested the food business renamed the company and began operating as a real estate investment and service company
more more
he would not say how much the country would earn in 1987
deltaus corp dlta year
harcourt hbj mum on reed reedl rumors
the optimistic outlook as well as leiners expectation that the yield curve will flatten in the near term is based on an improving inflation outlook
under the deal petro chemie supplies oil to ina refineries in sisak and rijeka and ships parts to 12 yugoslav firms in the petrochemical chemical textile and plastics industries
john labatt sees good fourth quarter year
jumardi jukardi head of pertaminas coordinating board for foreign contractors said foreign companies will drill 110 exploration wells and 431 development wells this year against 108 and 330 last year
hechinger co hech 4th qtr net
the other proposals it said would provide for greater long term stability and cohesiveness for the gencorp board
sunshine mining co ssc 4th qtr loss
the sale of cgct which controls 16 pct of frances telephone market has been priced at 500 mln francs and three international consortia are battling for the right to buy it
the rate at which permits were issued for future construction rose in february by 44 pct to a seasonally adjusted 1764000 units after falling 1152 pct to 1690000 units in january
trail smelter revenue was 356 mln canadian dlrs in 1986
the debentures have an 8 5 8 pct coupon and were priced at 9973 to yield 100 basis points over the off the run 9 1 4 pct treasury bonds of 2016
the seaway said 1985 was its worst year in two decades
earnings per shr are restated to reflect 3 for 2 stock split effective july one 1986
keppel raises bond issue to 75 mln dlrs
last week the ec awarded licences for 59000 tonnes at a rebate of 45678 ecus
shr 102 dlrs vs 78 cts net 144 mln vs 110 mln note 1987 net includes gain 2222000 dlrs from termination of pension plan
foote said terms of the agreement including price for the proposed cash transaction have not been released because they are subject to a continuing due diligence investigation
the hull and machinery of the herald of free enterprise were valued at 25 mln stg and were insured by townsend thoresens parent company peninsular and oriental steam navigation co plc porll the vessel was in turn reinsured in the london market with lloyds and various other companies larner said
leucadia national corp said two of its subsidiaries have acquired a 72 pct stake in minstar inc a corporation controlled by corporate raider irwin jacobs and used by him in his forays to acquire stock in companies
maybe theres a need to move faster one source said
the dollar had risen as high as 208 marks and 165 yen in early november
the sources said they believed baker saw it as a major action
he said he believes gold prices will hold above the 400 us dlr an ounce level for the rest of 1987
the garden supply company was acquired from itt corp itt in december along with om scott and sons co
this was a bloodbath said one money market economist
pop radio popx gets rite aid rad 
analysts said the groups 7 eleven retail stores and its franchises among them canon cameras christian dior luxury goods and mercedes benz cars produced a strong cash flow
the company said the transactions will bring immediate production and earnings to consolidated tvx enhance its precious metal potential and is expected to improve cash flow and earnings on a per share basis
the rights will expire april nine
nmic has not operated its plant in the southern philippines since march 1986 after workers struck demanding payment of salaries delayed because of the firms financial difficulties
this change is regrettable but there is no reason to dramatise
some analysts however disagreed that any spinoff of shearson would be good since it is a strong profit center for american express contributing about 20 pct of earnings last year
harcourt hbj disappointed with harper hpr 
japan will import a total of 49 mln tonnes from both areas up from 42 mln a year earlier they said
the feasibility study used a 350 dlr gold price
mr
shultz predicts rapid narrowing of us trade gap
compromise seen likely over conoco statoil dispute
mellon said the loan loss reserve at the end of the first quarter is estimated to be 575 mln dlrs or about 25 pct of the loan book compared with 4938 mln dlrs or 217 pct of total loans at the end of 1986
us stock market overreacts to tariffs yeutter
under ec law ministers have to give member states special permission if they wish to be exempt from community competition laws
berliner bank ag berlin is issuing a 50 mln australian dlr eurobond due november 13 1990 paying 14 1 4 pct and priced at 101 1 2 pct lead manager banque paribas capital markets said
lex shares fell on the announcement to trade around 409p from a 419p close yesterday
if it suddenly needs more flexibility it will find it very hard to obtain amros nelissen said relatively small changes in interest rates and exchange rates could cause substantial flows of securities business and sharp fluctuations on the dutch capital market
interest rates hurt us may housing sales
gm gm canada sets one week layoff
victoria state bank issues 50 mln aus dlr eurobond
entertainment marketing seeks to buy crazy eddie for eight dlrs a share
the move will provide long term stability to ensure continuity of overall control of the hutchison group in that it provides hutchison with a stable framework within which management development and the planned growth of the groups businesses can take place it added
there was more demand and less on offer in the market one dealer told 
galveston to aquire mine property interests
noting the often different reactions of us japanese and european banks funaro told journalists that brazil might adopt an approach involving separate discussions with the regions
manufacturing hours fell to 409 per week from 412 hours in february but overtime hours increased to 37 from 36 the departments survey of households showed the number of unemployed stood at 785 mln out of a work force of 1192 mln
funds averaged 612 pct in the week to wednesday up from 606 pct in the prior week
moodys may downgrade home shopping hsn debt
while you must keep up the pressure on us to eschew protectionist policies you must act too shultz said
firs 87 88 ec beet sugar estimate unchanged 1263 mln tonnes white equivalent
honeywell said it will use much of the money to reduce short term debt incurred last december when the company purchased the sperry aerospace group
clones not resistant to the disease are the rubber research institute of sri lanka clone 103 indonesias ppn 2058 2444 2447 and pr 265 and malaysias rrim 725 he said
oil analysts and traders said they were not sure if the shutdown will continue to raise us oil prices
the inverse floater totals 48 mln dlrs
alcan said two of the cars are currently being tested in britain by the motor industry research association
previously only a simple majority of outstanding shares was needed to change bancrofts investment status from a diversified to a non diversified fund among other things
this acquisition includes all of livingwells rights to its recently announced powercise fitness equipment
the achievement of a sustainable pattern of us international transactions and more stability in exchange rates are ones with which i remain sympathetic he said
an official at the london international financial futures exchange liffe said the exchange currently has no plans to introduce more mark denominated contracts beyond the existing mark dollar contract
us roastings of green coffee in the week ended march 21 were about 250000 60 kilo bags including that used for soluble production compared with 195000 bags in the corresponding week of last year and about 300000 bags in the week ended march 14 george gordon paton and co inc reported
also excludes extraordinary loss of six cts a share in the fourth quarter 1985 and gain of 181 dlrs a share in full year 1985
talking point gencorp inc gy 
nor did there seem to be any enthusiasm at last weeks semi annual meetings of the imf and the world bank for higher us interest rates as the best way to curb the dollars rapid descent
northgate exploration ltd said year end 1986 ore reserves at its two chibougamau mines in quebec fell to 8141150 short tons grading 0077 ounce gold a ton and 163 pct copper from year earlier 8462000 tons grading 0077 ounce gold ton and 167 pct copper
but he said the gilts market was likely to remain worried about the funding implications of recent intervention
shr 55 cts vs 75 cts net 218000 vs 269000 nine mths shr 215 dlrs vs 345 dlrs net 855000 vs 920000 assets 1758 mln vs 1669 mln deposits 1598 mln vs 1543 mln loans 1557 mln vs 1426 mln note 1987 nine mths includes gain 96000 dlrs or 24 cts per share from utilization of operating loss carryforward
conger said he anticipates 1987 exploration budget will be about the same as 1986 spending of 273 mln dlrs
halcyon investments a new york investment partnership that deals mainly in risk arbitrage and stock trading said it raised its purolator courier corp stake to 726700 shares or 95 pct from 474900 or 62 pct
there are no pronounced pressures at the retail level said william sullivan of dean witter reynolds inc
oper shr loss 110 dlrs vs loss 863 dlrs oper net loss 51 mln vs loss 421 mln revs 231 mln vs 633 mln year oper shr loss 471 dlrs vs loss 1409 dlrs oper net loss 220 mln vs loss 672 mln revs 1146 mln vs 2218 mln avg shrs 4910330 vs 4851650 note current year excludes gain of 121 mln dlrs from disposal of discontinued operations
homestead financial corp said it began a public offering of 3500000 shares of its class a common at 10875 dlrs per share through an underwriting group managed by drexel burnham lambert inc and merrill lynch capital markets
meinert reiterated an earlier comment that earnings for the remainder of the year must double the 1986 level to meet that goal
american can issuing 150 mln dlr convertible bond
exxon official urges planning for next oil surge
cyprus minerals company said it is decreasing its electrolytic copper cathode price by 125 cents to 670 cents a pound effective immediately
gatt warns us on federal budget protectionism
sterling eased a touch to 2950 marks at the fixing from 2957
international coffee prices could drop to between 70 and 80 cents a lb by next october if no agreement is reached to support the market jorge cardenas manager of colombias national coffee growers federation said
he was responding to rumours in the new york currency market overnight that the ministry was reducing its pressure on institutions to refrain from excessively speculative dollar dealings
if gao determines that certificates encourage more loan entries or cause more loan forfeitures then the net cost of the program would go up
seaxe is engaged in international oil and gas exploration and development primarily in the paris basin of france
morgan stanley said weyerhaeuser may exchange the preferred on any dividend date beginning june 15 1990 for its 5 1 4 pct convertible subordinated debentures due 2017
yankee ynk unit not to sell subsidiary
he said the high semiconductor prices recommended by the agreement were leaving japanese manufacturers piling up stocks of unsellable products
devon resource investors din year end dec 31
the new figures bring cumulative wheat exports for the period july 1 march 13 to 366 mln tonnes and barley to 350 mln compared with 147 and 209 mln tonnes respectively last season
as a result of the acquisition and joint ventures backlog ventra said it expects 1987 sales to be 30 mln dlrs with net profits of 15 mln dlrs
the ec members have to make a choice van der linden said
of the total 300 billion yen will yield 39989 pct on the sales from money houses to banks and securities houses in 27 day repurchase agreement due april 2
the company made its initial public stock offering march five
taft said the board concluded that the offer failed to recognize fully the future propsects of the company and directed management to explore alternatives including possible financial restructuring
six months to december 31 shr 26 cents vs 52 cents interim dividend four cents vs same group net 124 mln ringgit vs 243 mln pre tax 266 mln vs 535 mln turnover 2353 mln vs 3339 mln note dividend pay april 30 register april 3
pakistan had imported 600000 tonnes of edible oil since the beginning of the current financial year last july they added
one source said india is showing more dynamism in promoting countertrade deals than in the past when the deals were made discreetly because they break gatt rules
a cftc spokesman said the commission took into account open interest affected by existing speculative limits in proposing to raise cbts limits
the intervention board spokesman in frankfurt said one million tonnes is an awful lot and the communitys coffers are almost empty
battery said occidental life is a major underwriter of individual term life insurance and a recent but fast growing entrant in the individual account superannuation market
said one us analyst of bakers weekend remarks his timing could not have been worse one government bond salesman in new york said he actually thought that yelling at the germans and threatening to smack the dollar down would work
australian car sales fell to 530000 in 1985 from 696000 in 1985 although mmal said it lifted its market penetration to 121 pct from 115 pct
combustion said 3500000 shares will be sold in the us and the remainder overseas
but brokers said the central banks move is seen as a de facto currency control
track 316 toledo 304 298 290 memphis 305 peoria 311 denver 262 263 evansville 299 cincinnati 296 minneapolis 265 271 370 baltimore norf phil
while such ideas have political appeal baker said they would mean a drying up of capital flowing to debtors
hf ahmanson and co ahm 3rd qtr net
investor to take control of river oaks roi 
the world bank said it has extended three loans to india totalling 929 mln dlrs for two projects in the power sector and one for water supply and sewage
there are doubts as to how much of this cocoa would be fit for export as shippers are now experiencing dificulties in obtaining bahia superior certificates
chinas january grain exports fall
the banks had no borrowings in the prior week
vms mortgage lp said it declared a regular monthly cash distribution of nine cts a depositary unit for the month of march payable may 14 record april one
but if commodity prices exhibit a broad trend a policy action might be considered he said
vietnam will resettle 300000 people on state farms known as new economic zones in 1987 to create jobs and grow more high value export crops the communist party newspaper nhan dan said
brazilian and us trade officials held the first of a three day meeting today in brasilia to discuss the issue
the finance ministry in a report issued in february predicted indias fiscal 1986 87 wholesale price linked inflation rate at about 65 pct against 38 pct in 1985 86
a us defence department official in washington said the station was still functioning
kaiser steel corps plant in napa calif has been purchased by oregon steel mills for 16 mln dlrs the privately owned portland company said
the duth central bank said it accepted bids totalling 4086 billion guilders at tender for the new twelve day special advances at an unchanged 53 pct
1986 1st qtr oper net excludes loss carryforward of 78000 dlrs or one ct per share and loss from discontinued operations of 475000 dlrs
the smelter was shut down january 26 after anti government guerrillas dynamited two electricity towers which transmit power to the plant from the afobaka dam
this compares with a 15 billion deficit in 1985 and while it is the first surplus since 1979 is substantially lower than the 50 billion surplus forecast by the previous socialist government before they lost office in march last year
in 1986 world group turnover was off 88 pct at 4047 billion marks compared to 1985 basf said
25 to force banks to concentrate on wrapping up the financing pakcage and gurria said it would resume once the first part of the six billion dlr loan that forms the core of the deal is disbursed
cyclops noted that dixons waiver of rights to breakup fees or the purchase of common stock directly from cyclops and the provision of nonpublic information to cyacq are conditions to cyacqs increased 9250 dlr per share offer to acquire cyclops shares
the rise in the value of the mark and the yen has hit indonesia by increasing its debt servicing levels
current oil production is 80 barrels a day it said adding that no gas was produced for sale in 1986
madagascar rice crop estimated higher in 1987
the remaining three principal instalments originally due in march 1987 september 1987 and march 1988 will each be deferred for two years from the due date banking sources said
the us departments of agriculture and transportation are close to agreement on how to fund the increasing share of food aid to be shipped on us flag vessels under a 1985 farm bill provision on cargo preference
the bankers said the controls announced on march 6 are a panic reaction to us pressure which has intensified over the past week for a faster appreciation of the taiwan dollar to slow the growth of taiwans exports to the us the government has denied local press reports washington is pressing for an exchange rate of up to 28 dlrs
new york telephone co a unit of nynex corp said it filed with the securities and exchange commission a shelf registration statement covering up to 500 mln dlrs of debt securities
du pont dd to sell cleveland plant
cnw corp said its subsidiary chicago and north western transportation co sold in a private placement 25 mln dlrs of consolidated mortgage 99 pct bonds series c due 1992
he said in reply to inquiries that rates could rise further if money supply growth rose above this years eight pct target for m 4 defined as liquid assets in public hands
the ec has threatened to put the sugar back on the internal market if the producers refuse to withdraw their offers
it also said it was the largest shareholder of usair and threatened to go directly to usair shareholders with an offer for 51 pct of the stock at a lower price
the 1986 figure was increased to include expenses involved with its settlement of a dispute with dynamics corp of america dya the settlement involved a takeover bid for cts by dynamics corp which had offered to buy the shares of cts that it did not already own
the government is going to examine assets of this nature to ascertain if they continue to play an appropriate role in public policy and we will make a determination as we have in other cases mulroney told the daily question period
the chiefs of viacom international inc and national amusements inc said they met and agreed to work together to complete the previously announced merger of the two companies as expeditiously as possible a spokeswoman for viacom declined to say if the executives had set a timetable for closing the deal
warburg said receipt of 2500000 shares would raise its interest in symbion to about 593 pct from 258 pct currently and give it control
each side has attacked the others shipping
with mark denominated investments largely out of favour because of low yields and a dull economic outlook chases marshall said sterling is simply the best game in town especially after the budget and demand will remain strong
the party said the governments decision also had the support of all sectors of society including the governors of 22 brazilian states
it said results from its bridgewater newsprint mill in the uk should improve greatly this year due to stronger capacity and production and more favorable market conditions
citicorp said that on behalf of its citibank na subsidiary it is issuing 100000 naked currency warrants priced at 67 1 2 marks each to purchase australian dlrs for marks at a rate of 11825 marks per australian dlr
smith kline also said its small clinical laboratory testing unit with 1986 sales of 373 mln dlrs performs 24 mln tests a year and sees increases in employee drug testing as well as in testing for the aids antibody
the utility had previously said it might be forced to consider filing for bankruptcy because of limited rate increases granted by state regulators in connection with gulf states 43 billion dlr river bend nuclear plant in louisiana
marris does not expect the crisis to peak until later this year but he warned that the situation is so fragile that it would take very little to touch off what he calls the second phase of the hard landing whereby a loss of confidence in the dollar pushes up interest rates and leads to a recession
boone pickens the texas oilman and financier said he believes the heady days the oil service industry had in the early 1980s when over 4500 oil rigs were once reported operating will not return in his lifetime
he told a news conference wage pacts signed so far this year were not endangering the governments five pct inflation target
the company said it is evaluating two separate proposals and will complete the sale within 10 days
among the main factors affecting liquidity bills for repurchase by the market will drain some 526 mln stg while bills maturing in official hands and the take up of treasury bills will remove around 179 billion stg
both companies said they support the agreement and believe it to be fair to both sides
the bank of france said it invited offers of first category paper today for a money market intervention tender
senate agriculture committee chairman patrick leahy d vt said he wanted to go to conference with the house as soon as possible on the issue but would have to study the matter further before deciding how he would vote on it
talks with argentina over 215 billion dlrs of new loans and a multi year rescheduling also continued in new york with the citibank led advisory committee making a counter proposal to argentinas original offer
others however were more optimistic saying evidence was already in hand that japan has cut back prodution and halted sales to the grey market the third country brokers that sell chips at below production costs
advertising agents saatchi and saatchi co plc sachy said it was buying cleveland consulting associates inc for an initial consideration of 20 mln dlrs
feedgrains x cont 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 usage feed 1406 1362 1348 1355 other 358 350 350 343 ttl domest 1764 1712 1698 1698 exports 439 408 366 366 total use 2203 2119 2064 2064 end stocks 1591 1675 1264 1264 farmer reser 390 365 166 166 ccc stocks 552 495 204 204 free stocks 648 815 893 893 x includes corn sorghum oats barley
the bank of england said it had not operated in the money market during the morning session
if we did not change the dynamics of repaying our debt the situation would become increasingly worse mikulic said
he declined to put an exact figure on the amount of sugar offered by beghin say but said it was below 500000 tonnes
qtly div 28 cts vs 28 cts prior pay april one record march 13
clayton and dubilier is a new york based private investment firm which has completed two other management led buyout transactions since december 1986
finance minister kiichi miyazawa told parliament on friday the current dollar yen exchange rate is not necessarily satisfactory for the japanese economy
bsi raising 50 mln swiss francs via rights issue
recovery in the automotive sector helped push the value of exports up by 59 pct in february the agency said in its monthly report
it said the workers represented by united steelworkers of america would receive a 121 dlr an hour pay raise over the life of the new contract and improved benefits
us commercial paper falls 375 mln dlrs in feb 18 week fed says
he said people mentioned many things in line with the spirit of the report including restructuring of the coal and steel industries
a mass dismissal last year at the impala platinum holdings ltd iplaj mines in the tribal homeland sent world platinum prices rocketing
while happy to invest in bonds and other vehicles yielding interest unobtainable elsewhere fund managers could just as easily reverse the flow particularly the japanese who were badly hurt in the past by rapid falls in the australian dollar and hefty jumps in bond rates analysts said
the bank of japan bought a small amount of dollars at around 14595 yen shortly after the tokyo market opened dealers said
a manageable debt maturity schedule for the next few years mitigates concern over coastals capital structure s p said
the numbers include imports
an earlier proposed consent decree did not establish a funding limit
the department and the private sector each imported around 115000 tonnes of sugar last year when national consumption was 280000 tonnes
the sharp increase in the deficit originated from merchandise trade transactions where imports continued to advance strongly whereas exports were virtually unchanged the federal agency said in a statement
nippons move was the result of current exchange rates and the revaluation of the yen which have made the us electronics industry an attractive investment opportunity for japanese corporations according to a gtx statement
rep
qtly div 25 cts vs 25 cts prior pay june one record may 15
pillsbury first sold limited partnership interests in burger king investors lp in february 1986
the nine pct bonds will be issued to a maximum of 325 mln dlrs
borg warner will also redeem all of its outstanding 450 dlrs cumulative preferred stock series a for 100 dlrs per share
chicago pacific corp is raising 150 mln dlrs through an offering of convertible subordinated debentures due 2012 with a 6 1 2 pct coupon and par pricing said lead manager goldman sachs and co
japanese brokerages are consistently heavy buyers of us treasury issues
union carbide corp is raising 350 mln dlrs through an offering of senior subordinated notes due 1994 yielding 990 pct said sole manager first boston corp
the silver copper alloy coin will be minted in an edition of 835 mln a finance ministry statement said
indonesia has imported palm oil this year and is likely to take more trade sources said
the central bank will have 10 days to decide whether to issue the required foreign exchange
memotec data inc year net
great american said the examiners were conducting a regular examination and a final report is not expected for several weeks
universal holding corp uhco 4th qtr loss
watso inc wsoa sets regular payouts
the warrants are exercisable from the april 2 payment date until march 2 1989
the central bank said in a statement the measures included increased provisions for high risk borrowers and a provision for future pension fund obligations
rodriguez said the region needs trade to continue development
two affiliated investment firms told the securities and exchange commission they have acquired 593000 shares of midway airlines inc or 77 pct of the total outstanding common stock
rotterdam and amsterdam have since followed with programs of 400 mln and 300 mln guilders respectively
france sold wheat flour to china onic
the size of the facility has also been reduced to three billion dlrs us from 35 billion dlrs us the maturity debate of the new agreement will be june 19 1992
about 14 mln philippine people depend on upland areas that are now denuded and farmers cannot grow crops
he told a news conference that business during the year had weakened somewhat but was still generally positive
but he added it will be a while before us exports fall to below 10 mln bushels a week from around 20 mln bushels currently
the us imposed the measures and withdrew most favoured nation mfn trading status from poland in 1982 in retaliation for suppression of the solidarity free trade union under martial law
analysts were predicting prices of up to 5000 stg per tonne during 1987
bank of japan actively buying dollars at around 14220 yen in tokyo dealers
the institute estimated per capita gnp for 1986 at 11166 dlrs up from 10453 dlrs in 1985
thai tin exports rise in january
canadian pacific seeks buyer for maple leaf unit
current year net excludes tax credits of 1381000 dlrs in quarter and 1722000 dlrs in half
an international floor price adopted by all or most industrial countries would clearly be a much more effective measure and would be much less distortive for the us than if we imposed it alone lichtblau said
swedish prime ministers china visit boosts trade
industrial equity pacific ltd a hong kong investment firm said it raised its stake in calmat co to 1480830 shares or 98 pct of the total outstanding common stock from 1217230 shares or 80 pct
other field participants include canterra energy ltd mobil oil canada ltd gulf canada resources inc icg resources ltd trillium exploration corp and general partnership parex
japan extends 24 billion yen loan to bangladesh
griffin technology inc grif 4th qtr net
usda said the action was taken at the request of the bangladesh government and reduces the guarantee line authorized for wheat sales from 250 mln dlrs to 200 and creates a new line of 50 mln dlrs for vegetable oils
while wyss left his first quarter forecast of real us gross national product growth at 35 pct he said the march jobs data suggested a downward revision in his second quarter growth forecast to 25 pct from 28 pct
the banks latest strong signal to the market that it wants rates to stay steady for the moment came in midafternoon when it lent to the discount houses at a penal rate of 11 3 4 pct to relieve a money market shortage
gmac to launch euro note program april 7
over the weekend baker had criticised west german economic policies saying that rises in domestic interest rates here were not in the spirit of last februarys louvre pact to stabilise currencies
he told a meeting of the presidents export council that the japanese and the germans have cut their profit margins to reflect recent drops in the dollar so prices have remained much the same
the electrolux program uses multi tranche tap notes devised by merrill lynch
my gut feeling is somethings going to happen
last weeks deal was bank of americas second foray into the young asset backed securities market analysts noted
this apparently ruled out congressional approval of another textile trade bill to limit quotas on textile imports as was proposed again this year
non callable to maturity the issue is rated a 3 by moodys investors and a minus by standard and poors
crude runs normally increase in march and any decrease in runs would be friendly to the market said peter beutel of elders energy futures inc
foreign incoming orders rose despite economic difficulties in developing countries and opec nations hit by lower oil prices bilfinger und berger said
french operators last friday requested licences to export 10500 tonnes of free market maize 11950 tonnes of free market barley and 13000 of soft wheat flour to non ec countries at prefixed daily droit commun rebates french trade sources said
huntington said new england elecetric has all but rejected new coal fired plants to supply additional power
stoltenberg noted that brazil had agreed in january to work together with the banks but said this pledge had not yet been fulfilled
dh howden and co ltd increases dividend
last january japanese exports to the ec totalled half of of sales to the us against about a third in recent years
study group urges increased us oil reserves
apparently the special relationship between reagan and nakasone hasnt worked effectively rei shiratori director of the institute for political studies in japan said
this brings the scope of prt relief for research costs more in line with corporation tax relief measures and is planned to encourage general research into ways of reducing field development costs it said
a spokesman for montreal based alcan said the decision is 48 pages long and is in legal ese so it certainly will be a long time before we can make a decision about what it means for the sebree smelter in henderson about 100 miles west of louisville
wickes was last quoted at 345p compared with 275p at fridays close
amoskeag bank amkg to acquire entrepo
international proteins corp said it replaced its existing credit line with a new 10 mln dlr facility consisting of a three mln dlr term loan and a revolving credit line provided by citicorp cci the company said the new credit line significantly improves the companys working capital position and provides the company with additional funds to finance growth of its domestic operations
duff and phelps said it changed the ratings on outstanding senior debt of baker international corp and hughes tool company
harcourt brace needs a back list of that nature and is willing to pay up for it obolensky said
s p affirms banner bnr lowers rexnord rex 
chirac returned to paris this morning after three days of talks in new york and washington in which trade and protectionism featured prominently
smithkline beckman corp skb 3rd qtr net
diamond shamrock drm raises crude postings
bp has a 437000 bpd refinery in rotterdam a 181900 bpd unit at ingolstadt west germany a 181900 bpd plant at lavera in france and a smaller swedish plant
rha said south korea had also lowered many of its tariffs
american savings said the purchases boost its deposits by about 550 mln dlrs but do not affect its asset base
ssmc ssm to buy cutters exchange division
one arbitrageur calculated the equity in the redstone plan was worth 250 dlrs making the total package worth 52 dlrs per share
argentine grain producers again reduced their estimates for the total yield of the 1986 87 soybean crop which will begin to be harvested in mid april trade sources said
depending on prices traders said it would be likely for india again to buy more than the tonnage formally sought
additional non north sea corporation tax of 175 billion stg and vat of 750 mln stg account for the bulk of the overshoot
shr na net profit 2000 vs profit 195000 revs 2623000 vs 2577000 year shr na net loss 425000 vs profit 278000 revs 154 mln vs 8637000
he added a planned reform of the fiscal system scheduled for 1990 which was worked out by coalition partners this month was an important step in the right direction the government plans to cut corporation tax to 50 pct from 56 pct
for example on the first 350 tons of production a grower would receive 6 cts per lb in fiscal 1988 45 cts in 1989 3 cts in 1990 and 15 cts in 1991
fed chairman alan greenspan has said the most recent discount rate increase on september 4 was largely aimed at quelling inflationary fears in financial markets which he said were largely unfounded
in many ways not least in terms of rare international cooperation the september 1985 new york plaza pact between the us japan west germany britain and france to cut down the value of the dollar was a historic one
but long haul voyages are expensive as the product has to be shipped at a temperature of minus 103 degrees centigrade to keep it in a liquid form they said
comments by bundesbank board member claus koehler yesterday that rate cuts were needed to curb money supply growth from speculative capital inflows and by west berlin state central bank president dieter hiss that there was no natural lower limit to the discount rate had however no immediate impact
consolidated plantations bhd 
but analysts say markets have signalled the underlying fundamentals imply a lower dollar rather than a stable one
there is little cause for concern with better weather forecast and the capacity available to drill the contracted area of around 200000 hectares in about 10 days
british gas repays 750 mln stg debt
he said the administration wanted to continue its policy of gradually reducing deficits through restraining government spending and promoting economic growth
previously the rpi base was january 1974
the results were 10 mln stg up on most analysts forecasts
flyfaire with annual sales of 100 mln dlrs is engaged in the wholesale vacation travel business
palmer lewis co inc lwis 4th qtr net
they also agreed they needed better coordination of exchange market intervention to hold currencies stable both when they reached their fixed ems limits and within their agreed margins
the payment date is april 7
japans unemployment rate is expected to continue to climb to about 35 pct within the next year from januarys three pct record senior economists including susumu taketomi of industrial bank of japan said
nec corp has 150 mln dlr euro cp program
rlr contested the charge but stopped market making in its own stock
crew union sets pact with pacific southwest psg 
the board approved a 42 mln dlrs loan to benin for the construction of the cotonou port to be repaid in 25 years with a five year grace period the statement said
feb sterling bank lending up 29 billion stg after 175 rise in jan official
bankers leaving the meeting with gros declined to discuss details of the talks though some expressed satisfaction that brazil had agreed to continue working with the committee
both bass and horizon said that basss resources will enable horizons businesses to expand strongly this year
the reporting of the february trade data was delayed several weeks to permit gathering latest figures on imports and exports to give a clearer picture of the monthly trade balance
under those circumstances shore would not be surprised if some company such as unilever plc unas or procter and gamble co pg decided to take a look at gillette
schroeder hohenwarth said economic policy now had to concentrate on strengthening this domestic growth
the fourth quarter writedown was in addition to a charge of 880 mln dlrs on certain other assets taken mainly in the third quarter
the bank said earnings from domestic operations rose to 103 mln dlrs in the first quarter from 98 mln dlrs a year ago while earnings from international operations plunged to 11 mln dlrs from 42 mln dlrs last year
he said the japanese are paying much closer attention now to the french franc and west german mark
the new proposal also included a bonus system of 1000 dlrs for workers who had been at the plant for two years zack said
southern california edison co sce qtly div
painewebber inc the first boston corp fbc and salomon inc sb said paine webber group inc has made a public offering of four mln shares of 1375 dlrs convertible exchangeable preferred stock with a liquidation preferance of 25 dlrs per share
the cuts were likely to attract more business to the market he said
the week was the first half of a two week statement period
the confrontation eased after the turkish government said it had been assured athens would not begin prospecting in disputed waters
he replaces g
earlier the company reported third quarter pre tax profit for the period ended december 31 of 506 mln stg compared with 452 mln a year earlier
german banker calls for special monetary meeting
the central bank which last tuesday shut a daily aid window through which it lent funds of up to one year reopened the facility for three month money which was available at seven pct they said
speculation about a bid for norcros had been circulating in the market for several months dealers said
the company said the suit was filed seekiong to enforce sonats obligations under the contract to pay for methane gas produced by the brookwood coal degasificiation project in the black warrior basin of alabama which is equally owned by kaneb and jim walter
it said unemployment was expected to fall to 675000 this year from 710000 last year
pinto fnmas senior vice president said intermediate term mortgages offer lower interest rates substantial interest savings lower inflation rates and in many cases faster equity build up than longer term mortgages
don manning will cede his post as chief executive but will remain president the company said
but 1987s rating changes will not be as skewed as 1986s 21 to one ratio of downgrades to upgrades s and p predicted
it said imf managing director michel camdessus made the pledge during talks with moi in washington yesterday
uk chancellor of the exchequer nigel lawson said the united states and japan must work to avert a possible trade war and he added that a trade war would not be in the interests of britain
shr 20 cts vs 22 cts net 1948000 vs 2124000 sales 409 mln vs 410 mln six mths shr 40 cts vs 50 cts net 3864000 vs 4835000 sales 817 mln vs 799 mln note 1986 results include gain on sale of land of 571000 dlrs or six cts a share 1986 results include loss from discontinued operations of 403000 dlrs or four cts a share in the quarter and 598000 dlrs or six cts a share in the six months
the aim is to pressurise a companys management into action dedicated solely to a favourable impact on the share price in the short term partly or even primarily at the expense of the future he said
so far g 6 has been a roaring success said james oneill financial markets economist at marine midland bank na
the treasury department said it notified the netherlands that it was terminating the 1948 income tax treaty as it applies to the netherlands antilles and aruba
concerning business in 1987 he said that january was a good month but the situation deteriorated in february
shr loss five cts vs profit eight cts net loss 152000 vs profit 214000 revs 62 mln vs 24 mln year shr profit 22 cts vs profit 33 cts net profit 809000 vs 853000 revs 224 mln vs 79 mln
huckaby also said he would be seeking guidance from the justice department to determine if it would be legal to ask corn refiners to limit production
it said such a change would slow real gnp growth to an average of two pct annually during the seven year period to 1993
pw which is currently accepting applications for the claims said that to date 2000 bond application forms and 600 property application forms have been returned
31 1986 fiscal year
mark hammer a private investor from melville ny and members of his family told the securities and exchange commission they have acquired a total of 375200 shares of exovir inc or 129 pct of the total outstanding
this government needs less pressure and more time and happily our creditors seem to see it that way he said
shr 58 cts vs 54 cts net 3144000 vs 2464000 revs 546 mln vs 386 mln avg shrs 5394000 vs 4602000 year shr 203 dlrs vs 176 dlrs net 105 mln vs 8084000 revs 2011 mln vs 1524 mln avg shrs 5154000 vs 4602000
sjw corp sjw 3rd qtr net
priced at 101 5 8 pct the issue was quoted at less 1 1 4 pct bid on the grey market compared with the total fees of 1 5 8 pct
these costs have arisen as a results of a change of direction for the group
the borrowing limit of the hong kong exchange fund set up to regulate the value of the hong kong dollar has been raised to 50 billion hk dlrs from 30 billion by the legislature an official statement said
symbion inc said warburg pincus capital co lp began a tender offer to purchase up to 25 mln shares or about 33 pct of symbions shares at 350 dlrs per share
palm oil output seen dropping sharply oil world
the transaction is subject to completion of a definitive agreement and to regulatory approval
based on field travel in the brazilian state of parana soybean yields should be about average or 20 to 22 tonnes per hectare the us agriculture departments officer in sao paulo said in a field report
baker sees brazil banks reaching agreement
the report showed march 1 stocks of 14 billion bushels of soybeans 83 billion bushels of corn and 23 billion bushels of wheat all below trade guesses
lilly said it expects to use the after tax proceeds from the sale of its cosmetics business for general corporate purposes including the repurchase from time to time of its common stock or warrants on the open market
listing is in luxembourg
bench craft inc sofao 3rd qtr net
terms were not disclosed
the seven year issue has an indicated coupon of 4 1 8 to 4 5 8 pct and is priced at par
us senate panel makes conservation exemption
australian reserves fall in february
companies tell us that we have to give them a strong incentive to take on people who have fallen out of the labour market and thats why the proposals are costly an aide to seguin said
euro clear told exxon that it has examined to its satisfaction all the notes at the depositary and is checking the authenticity of new deposits of the notes as they enter the euro clear system
in the fourth quarter alone the unadjusted surplus rose to 141 billion francs from 66 billion the previous quarter but the adjusted surplus fell to 74 billion from 91 billion
it bought nearly two billion us dlrs between march 5 and 23 he said
keating revises down australian growth forecast
the governments tight fiscal position is not expected to change it said
he said revenue should not be raised by taxing the consumer and called the proposal repugnant
the shares were bought at 31325p each
exports this year are expected to total 225 billion dlrs and imports 145 billion he added
al wattari said an 18 dlr a barrel price was optimal as it allowed investment in the oil industry outside opec to continue while not generating excessive cash flow for otherwise unviable high cost areas outside opec
the bank of japan actively bought dollars here in early afternoon trade at around 14220 yen dealers said
australias current deficit narrowed to 750 mln dlrs in february from 123 billion revised from 129 billion in january the statistics bureau said
investors increase stake in frost sullivan
share prices rose in very active trading today with dealers reporting that poehls remarks coupled with a bullish outlook on stock prices from deutsche at the same symposium brought in strong bargain hunting at current low levels
the federal home loan bank board adjusted the rates on its short term discount notes as follows maturity new rate old rate maturity 30 174 days 500 pct 500 pct 30 87 days 175 190 days 585 pct 582 pct 88 103 days 191 270 days 500 pct 500 pct 104 179 days 271 288 days 592 pct 585 pct 180 205 days 289 360 days 500 pct 500 pct 206 360 days
bids on the previous signups ranged up to 90 dlrs per acre with an average of 4552 dlrs
buehrmann tetterode plans further expansion
total holdings of us savings bonds reached 9476 billion dlrs the highest in the history of the program the treasury said
the defensive moves were taken because mark iv had said it planned to elect a majority of its designees as directors at a special holders meeting if it succeeded in acquring a majority of the companys common stock in the offer conrac said
iraqi oil minister replaced official
net interest 11 mln vs 153 mln
optrotech ltd optkf year net
the debentures have an 8 7 8 pct coupon and were priced at 9920 to yield 135 basis points over the off the run 9 1 4 pct treasury bonds of 2016
here injury to subsistence resources from exploration was not at all probable justice byron white wrote for the court
sumita said in a statement that world stockmarkets were excessively concerned about the economic future
cardenas said a new ico meeting could only take place when problems that hindered an agreement at the recent london talks have been resolved
continental medical cont plans debt filing
he said the deficit might fall to 145 billion dlrs this year from 165 billion in 1986 and further improve to 120 billion in 1988 but by 1990 it would be back around 160 billion dlrs
the sanctions were levied on certain japanese television sets personal computers and hand held power tools
imperial oil is already canadas largest energy company with 1986 revenues of 71 billion canadian dlrs
the uk government is in no hurry to issue more bonds suggesting further market improvement and continuing demand from brokers here said laurie milbank and co assistant manager machiko suzuki
south korea will cut import taxes on 50 goods including construction equipment cigarettes and tobacco to help reduce its trade surplus with the united states the finance ministry said today
the rains also benefitted maize and sorghum crops in southern buenos aires province but are not expected to influence production forecasts
such targets are believed to have been secretly agreed between finance ministers of the group of five and canada at their paris meeting last month they added
transnational industries trsl sees loss
asian revaluations
iranian oil minister gholamreza aqazadeh arrived in algiers at the head of a large delegation for talks on stabilizing oil prices the official news agency aps said
in its annual report mobil said that this will include greater emphasis on frontier plays that although riskier fit our strengths of technology and size this probably also means a shift toward emphasis in the foreign area since selective overseas exploration offers greater potential
uae central bank cd yields higher
presidential spokesman frota netto told journalists earlier today the government was considering a suggestion by the chief of civilian staff at the presidency marco maciel that a new multi party cabinet be formed to deal with the countrys current economic difficulties
a henkel statement said the divestment was part of the companys strategy of concentrating on its core businesses
stone and webster inc sw sets quarterly
in line with the views of other top administration officials he favored marketplace determination of takeover battles over new federal regulations
it is available in denominations of 1000 and 10000 australian dlrs and will be listed in luxembourg
this just means that there were fewer people looking for work so the drop in unemployment doesnt mean much he said
analysts see slow move to higher us prime rate
a government official said that a decision by brazil not to import maize because it forecast a record harvest would not affect argentinas exports
murray ohio mur sees higher first quarter net
southwestern energy co said it reached an agreement with arkla energy resources for arkla to carry gas owned by southwestern subsidiaries
indonesia told the oil industry on tuesday it will extend contracts on producing blocks and improve the investment climate but wants to see increased expenditure on exploration in return
one key factor in the fourth quarter is expected to be a tax break of some 70 mln dlrs for the investment allowance on capital expenditure in the steel division they said
the value of chinas industrial output in january and february this year was 141 pct higher than in the same 1986 period the new china news agency said
january saw a rise of 300 mln stg in amounts outstanding to finance houses other specialist credit grantors and retailers
the bill calls for an investigation of whether us engineering and construction firms are given adequate opportunity to bid on japans civil works procurement practices including the construction of the kansai airport
the magazines us editiion begun last year now has a paid circulation of 180000 the company said
swift sftpf to sell south dakota pork plant
i hope never again to go through the trauma of 1986
enserch ens to redeem debentures
the administration is expanding its crackdown on bad debts officials of the white house office of management and budget omb told reporters
japan must now be especially careful about a flare up in inflation with money supply growth accelerating he said
pep boys manny moe and jack inc pby 4th qtr
it said an insider trading definition should exempt a securities firm from liability for law violations by its employees unless the firm had participated in or was aware of the wrongdoing
the nine creditor banks of the singapore coffee trader teck hock and co pte ltd are thinking of buying a controlling stake in the company themselves a creditor bank official said
1986 4th qtr includes 35 mln dlr provision for costs anticipated in connection with disposal of division and 500000 dlrs in adjustments related to write downs
buyers have backed away from bank paper
it has also expressed interest in dutch publisher kluwer nv kluwas
all the imports come from the us he added
the us court of international trade has upheld the international trade commissions refusal to extend countervailing duties on canadian hogs to include pork products the national pork producers council said
statoil will share the licence with subsidiaries of us oil companies tenneco inc tgtn and texas eastern corp tetn and the italian oil company agip spa s norwegian subsidiary
shr profit 32 cts vs loss 130 dlrs net profit 2704000 vs loss 7589000 rev 1052 mln vs 823 mln note qtr net includes extraordinary gain of 11 mln dlrs
cathay last week reported 1986 profits climbed to 123 billion dlrs from 777 mln in 1985 partly because of lower fuel costs and greater traffic
in a filing with the securities and exchange commission the group said it bought 49400 airlease units between july 16 andf october 15 at 1723 dlrs to 1760 dlrs a share
quartz engineering and materials qrtz 1st qtr
allied signal said in december it was offering for sale amphenol and six other operating units in its electronics and instrumentation sector
fitchburg gas fge plans to issue notes
gencorp inc says to sell general tire to continental gummi for 650 mln dlrs
isc systems iscso 3rd qtr march 27 net
as a result 63 mln dlrs has been accumulating each month as deferred non cash account receivable which has been included in current income
qtly div 22 cts vs 22 cts prior pay april 30 record april 10
exploration by pdvsa led to an increase of 675 mln barrels in reserves of light and medium crudes shifting the balance of venezuelas reserves away from heavy crude oil
traders expect us energy futures will open unchanged to slightly lower this morning with support near yesterdays lows
the parent banks balance sheet total rose 53 pct to 815 billion marks at end 1986 compared with end 1985 hackl said
besides the 13 billion dlr frozen debt south africa also owes ten billion dlrs of debt that includes a significant amount of medium term liabilities that will continue to be repaid on normal maturity dates
reporting full year data it also said gross domestic product rose 83 pct compared with 51 pct in 1985
oki electric industry co ltd okiet will reduce april production by 10 pct from marchs 32 mln
ford motor credit co f is raising 200 mln marks through a five year eurobond with currency warrants attached carrying a coupon of 5 3 4 pct and priced at 116 3 4 lead manager deutsche bank ag said
usair group inc said the us department of transportations office of public counsel has urged that expedited non hearing procedures be used in its proposed acquisition of piedmont aviation inc pie the company said that america west airlines inc awalo was the only party voicing opposition to the acquisition
it said it is evaluating the proposals and will not comment further unless a definitive agreement is reached
the final budget would be the fiscal 1988 spending and revenue blueprint
it said under the plan shareholders of record as of april 21 will receive a right to purchase under certain circumstances at a price of 42 dlrs 001 preferred share for each common share held
the official said the addition to reserves was to cover the one pct of claims somehow not covered and any voluntary gestures it wanted to compensate for the effects of pollution from the fire
bpcc planning sale of packaging operations
the company said the board at an october 16 meeting decided to defer until a board meeting later this week a recommendation on the edelman offer and said the board expects to make a recommendation by october 23
the agreement between the us and the european community ec on special imports of maize and sorghum provides an equal chance for all non ec countries to supply the spanish market an ec commission spokeswoman said
mccrory currently operates 1250 stores in 38 states
society for savings bancorp inc socso 3rd qtr hartford conn oct 19 shr 75 cts vs 55 cts net 8031000 vs 5819000 nine mths shr 216 dlrs vs 142 dlrs net 232 mln vs 151 mln
organized labor has pressed lawmakers for more relief from imports where jobs have been lost to foreign competition
elevator loading waiting continental grain westwego 1 6 mississippi river myrtle grove 1 0 adm growmark 1 4 bunge grain destrehan 1 0 elevator loading waiting st charles destrehan 1 1 reserve elevator corp 1 0 peavey co st elmo 1 0 cargill grain terre haute 2 1 cargill grain port allen 0 0 zen noh 1 2
ecuador adopts austerity program
permanent production facilities are being installed and the wells will produce to pipeline by mid april
shr 43 cts vs 55 cts net 6262000 vs 7948000 nine mths shr 130 dlrs vs 154 dlrs net 188 mln vs 223 mln assets 24 billion vs 21 billion note prior year amounts restated to reflect 2 for 1 stock split effective may 15 1987
miyazawa says dollar below 150 yen is counter to paris accord
between february 26 and today five ships have loaded 137000 tonnes of cereals the sources added
warehouse club wclb to take charge
the bond is available in denominations of 1000 and 10000 dlrs and will be listed in luxembourg
heavy rains fell again in argentinas main grain growing areas in the week to yesterday trade sources said
there were no bales awaiting review and 985 bales awaiting decertification
domestic use in 1986 87 at 1134 vs 1105 last month
the board also took other defensive steps including granting severance agreements to some officers it said
american express declared a two for one stock split
exports in 1986 87 season at 666 vs 676 last month
an announcement late friday that the usda will lift the limited cross compliance requirement for the 1987 oats crop means farmers will be able plant an estimated two to three mln more oat acres this year than last without being penalized traders said
the local steelworker union narrowly rejected a tentative agreement with the company on may 14 it said
the company set up its restructuring program to fend off a hostile takeover attempt by sir james goldsmith
most recent 12 months net excludes preferred dividends of 64 mln dlrs compared with 86 mln dlrs last year
walgreen co wag 2nd qtr feb 28 net
altus formerly known as first southern federal savings and loan association earlier announced the signing of a letter of intent to make the acquisitions
the medium and longer term interbank rates firmed today with three months ending at 5 1 16 to 4 7 8 pct against yesterdays five to 4 13 16 close
oil stocks on land in the us and canada were put at 2066 mln tonnes on april 1 down from the 214 mln tonnes on january 1 and equivalent to 94 and 98 days of consumption respectively
the houston endowment is selling the paper to comply with federal tax laws requiring charitable institutions to divest themselves of profit making subsidiaries by 1989
the indian state trading corporation stc bought four cargoes of rbd palm olein totalling 24000 tonnes at its vegetable oil import tender last week traders said
fellow opec member venezuela has already agreed to lend ecuador five mln barrels of crude to be repaid in kind after 180 days to help meet its domestic consumption needs
consolidated stores corp cns 4th qtr jan 31 net
renouf corp international said it has extended the expiration of its offer to pay 31 dlrs a unit to buy all outstanding units of benequity holdings a california limited partnership to march 24 from march 13
the queensland government development authority is launching a 300 mln us dlr euro commercial paper program morgan guaranty ltd said as one of the dealers
japans consumer price index base 1985 was unchanged at 997 in february from a month earlier the governments management and coodination agency said
conable arrived here on saturday and will have talks with suharto tomorrow
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
japanese net purchases of foreign stocks jumped to a near record 152 billion dlrs in february from 113 mln in january the finance ministry said
ec export licences for 59000 tonnes white sugar at rebate 45678 ecus french traders
foreign exchange dealers said the yen funds would be used to buy dollars to prevent a further dollar fall
the strike action was called off on friday after an interim court injunction against the employers plans for 350 redundancies this year
the slowdown would bring the inflation rate to 325 pct for the whole year sharply up from last years 22 pct
last month the ministry asked japanese chip makers to reduce first quarter output by 10 pct
as long as lillys stake in liposome is below five pct it is not required to report any further dealings it has in the companys stock
herrhausen said that no concrete measures were planned to place these shares and conclude the original placement
changes in the money supply can lead to changes in interest rates and affect economic activity directly
the european coal and steel community is issuing a 100 mln stg eurobond due april 6 1992 paying 9 3 8 pct and priced at 101 5 8 pct lead manager warburg securities said
union miniere said the location of its interest within the pancontinental group will be decided later
the company said it acted inview of the proposed acquisition and because certain debt restrictions could block its ability to redeem the rights
international power machines pwr 4th qtr loss
the agriculture ministry is expected to reduce official intervention prices for beef and pork in 1987 88 starting in april but the cutback ratio has not been set yet industry sources said
chicago mercantile exchange floor traders and commission house representatives are guesstimating todays hog slaughter at about 300000 to 305000 head versus 292000 week ago and 316000 a year ago
the one week meeting which ended today was held to examine a us initiative to set up a copper study group
iowa beef a susbsidiary of occidental petroleum corp mailed a letter to members of ufcwu local 222 informing them a lockout imposed by the company on december 14 would be lifted and meatpackers could return to work under iowa beefs revised last and best final offer according to zack
minnesota power and light co is raising 55 mln dlrs through an offering of first and refunding mortgage bonds due 1994 with a 7 3 4 pct coupon and par pricing said sole manager painewebber inc
previously one of frances biggest private banks it was nationalised by the socialists in 1982
the february trading period comprised the four weeks february 1 to 28
the government would in effect be subsidising these developments at 75 pct of capital expenditure before corporation tax the report said
commenting on the companys longer term earnings outlook gluck said we project net income to increase to 862 mln dlrs in 1992 reflecting increased operating income and lower interest expense due to the retirement of 267 mln dlrs of debt incurred in connection with the recapitalization he said the company does not usually release projections but has done so now beause of the significance of the recapitalization
ec agrees on need to strengthen ems
higher housing starts were mainly due to a 268 pct year on year rise in apartment building starts to 51829 for the 56th consecutive gain spurred primarily by lower domestic interest rates
standard and poors corp said it is keeping 230 mln dlrs of debt of caesars world inc and caesars world finance corp on creditwatch with negative implications
the trade had expected deferred contracts to decline on the usda report of a 15 pct rise in cattle placements in february from a year ago
japans agriculture ministry angered by us demands that japan open its farm products market will tell us officials at talks later this month that liberalisation would harm existing us farm exports to japan a senior ministry official said
brazil announced suspension of interest payment of 68 billion dlrs owed to commercial foreign banks on february 20
discussions on the possible extension of the sixth international tin agreement ita began at the quarterly session of the international tin council itc but the council is still waiting for decisions from various member states
he said he had directed the authorities to issue permits to harvesting gangs cane growers and sugar industry trade unions to hold the necessary meetings in preparation for the commencement of harvest
as we said from the start no agreement no one million bags he told 
unemployment is likely to reach 12 pct of the workforce by the end of 1988
im convinced itll be the last one in this form one banker said
hutton efh ends purolator pcc bid
edf to launch euro cp program monday
honeywell said it accounted for his as a discontinued operation in 1986 and will account for its future interest on a cost basis recording any dividends as received
bp will set prices at 968 cents litre and 906 cents respectively
raytech ray buys west german company
new leader coming to us sec in challenging era
plans were not fulfilled by the engineering and building ministries the chemical and timber sectors rail transport and light industry it added
the sources said house banking and foreign affairs leaders also attended the discussions
in a filing with the securities and exchange commission emery said it would sell or lease purolators air hub in indianapolis ind which is currently under construction and would divest purolators stant inc subsidiary
on december 31 1986 the company had 856014 telephones in operation representing 94 pct of all instruments in the country
net proved crude oil reserves also fell in canada to 224 mln barrels and in europe to 403 mln barrels from the previous years level of 231 mln barrels and 439 mln barrels respectively
many analysts recommend that investors buy and hold airline shares for at least a year
in addition a company controlled by sugarman raised 35 mln dlrs in a debt offering underwritten by drexel burnham lambert inc with help from jefferies and used a portion of the proceeds to buy tre stock
the dramatic drop in energy prices in early 1986 reverses much of the progress the company has made in the two previous years dome chairman j
in a filing with the federal energy regulatory commission trunkline said it is reducing its commodity rate the portion of the total rate based on the price of gas to 258 dlrs per mln btu from 269 dlrs per mln btu
in the parent company the positive earnings development continued it said where pre tax profit rose by 32 pct to 197 billion marks
that budget deficit has meant that the us is buying more imports
the factories have a capacity to produce the equivalent of 16 mln tonnes of starch in starch and by products a year or about one third of ec production from about 27 mln tonnes of cereals
bell resources says it buys 576 mln bhp shares taking holding to 2993 pct
the breakdown was as follows in tonnes cotton 5000 nil sunflower 25156 23713 linseed 6127 5990 groundnutseed nil 738 soybean 65759 76371 tung 645 730 olive 183 660 maize nil 312 rape nil nil grape nil nil the board said
west germany and japan meanwhile agreed to stimulate domestic demand and lead a global upturn
the transcanada proposal could open the bidding for dome since other potential buyers were probably waiting for lenders to agree to a restructuring he added
the bank issued 20 billion dlrs of similar bonds between february 16 and march 9
results were awaited on egypts tender today for 200000 tonnes of us soft or white wheat for april shipment under pl 480 private export sources said
the officials said reagan might delay retaliation for a last try to persuade japan to abide by the agreement reached last july governing trade in semiconductors
the 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
turnover rose to 2421 mln from 2115 mln
national semiconductor corp nsm 3rd qtr loss
however the sources said brazil is unlikely even to consider exporting such quantities as this would almost inevitably lead to a fall in world prices as brazil tried to encroach on other producers markets
foreign business accounted for 38 pct of orders against 40 pct in 1985
middle east currency market sees key changes
the smelter continues to operate with available concentrate from stockpiled supplies noranda said
torchmark corp is raising 200 mln dlrs through an offering of sinking fund debentures due 2017 yielding 865 pct said lead manager first boston corp
pay date is april 6
thai coffee exports rise in 1986
stanhome inc sth raises quarterly two cts
it said the gleason division manufactures automated assembly and test systems used in the production of small to medium size components for a number of industries including automotive electronic and appliance
the diversity and depth of bhp golds portfolio give the company a sound foundation in current gold production and an exciting potential for growth he said
proceeds will be used to repay short and long term indebtedness
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
about half of brazils 40000 seamen have returned to work after accords with 22 companies and the national strike which began on february 27 looks close to ending a union spokesman said
heineken is urging farmers to grow the traditional raw materials but coebergh noted that banana and palm beer were popular in rwanda this is a possibility but we could not possibly achieve the heineken flavor coebergh said
mine officials in malaysia the worlds leading producer said only 188 mines will be allowed to operate to ensure that output is limited to around 31500 tonnes in the year started march 1
the alaskan villages of gambell and stebbins along with an organization of eskimo natives on the yukon delta argued that the drilling would hurt native hunting and fishing
toshiba corp tsbat said it regrets its plan to enter the uk business facsimile and telephone market may be caught up in a diplomatic row over the position of cable and wireless plcs cawll in the japanese market
many in the market had expected a full one point cut in base rates today but some were not surprised by the authorities caution dealers added
great western financial corp said it has called for redeemption a 150 mln dlr issue of 85 pct convertible subordinate debentures due 2010 on may 15
many of the loans that would be affected by the tax change are those to less developed countries such as those in latin america
twenty three pct of sudans total foreign debt is owed to members of the paris club the diplomats said
vtx electronics corp vtx 4th qtr net
nynex will file its comments with the us district court on friday he said
japanese financial futures plan revealed
bank governor kombo moyana told the herald daily newspaper unfortunate and completely unfounded speculation that a depreciation of the zimbabwe dollar was about to occur had aggravated a serious foreign exchange shortage
we intend to keep that debate open herrington said
venezuela sees flat oil price despite us attack
amcor and nzfp said earlier today they were merging their pulp and paper interests in a joint partnership and were increasing their existing cross shareholdings
lesco inc lsco 1st qtr feb 28 loss
california microwave previously estimated the write downs in the six to eight mln dlr range
theres been a tug of war between the currency speculators and the central banks over the us dollar and it looks like the game has gone to the speculators said john ing at maison placements canada inc
south african m 3 april growth revised upward
simply stabilizing prices at about 18 dlrs per barrel will not materialy slow the drop in us production or the rise in imports chairman fred hartley said in the annual report
the feasibility study used a 350 dlr gold price
zairean officials blame their present difficulties on the imf recovery plans two basic assumptions which they said failed to materialise last year a world economic recovery pushing up commodity prices and boosting zaires export revenue and debt servicing capacity substantial additional financial help from the countrys traditional donors
until greenspan answers them the markets will remain nervous added stephen slifer money market economist at shearson lehman government securities inc
california energy ceci negotiates financing
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
as true liquidity drains we are going to have to see some better market cooperation and rationalisation commented one frn trader now dealing with straight bond issues since the floater market crisis
it said us retail operations revenues rose to 2258 mln dlrs last month from 2027 mln dlrs a year earlier
the securities and exchange commission removed a key regulatory obstacle to trading futures on designated foreign debt securities on us exchanges
the commission suggested that big rivers electric work out a flexible rate schedule with the smelters that would index their electric costs to the price of aluminum he said
grain traders said they were still awaiting results of yesterdays uk intervention feed wheat tender for the home market
ei du pont de nemours ddn subsidiary conoco norway inc was named operator on haltenbanken block 6406 8 and will share the licence with statoil
late last month de graaf said that if the dispute was not settled by monday this week he would withdraw the subsidy
republic rsla to merge with pioneer savings
we think sanctions must be applied for past violations of the agreement the california republican said
it said the buyback offer expires april eight unless extended
the amount of treasury bills outstanding at year end was 697 billion dlrs an increase of 103 billion dlrs over the year and 20 billion dlrs since 1984
brazil coffee exports disrupted by strike
late last week the bank said only that the losses from the credits in stuttgart would be in the double digit millions
one offer but no bid was posted for srw wheat on the call session at the st louis merchants exchange today
exco buys us government securities broker
until trends are clearer the market can only attempt to to establish and hold a new trading range at higher interest rates said economists at merrill lynch capital markets
behind the recent dollar fall lies the market perception that major nations were not doing enough to implement their policies under the paris pact he said noting that passage of japans 1987 88 budget has been delayed
sterling traded today around 15750 dlrs down from 15870 dlrs last night
william taggart chief executive officer of us courier division will be chief executive officer of the new company
but our proposal leaves it very little to object to van horick said
to buy i p sharp of canada
sterivet laboratories ltd stvtf year loss
chubb cb completes sovereign sovr buyout
it is available in denominations of 1000 and 10000 canadian dlrs and will be listed in luxembourg
the issues are being marketed not on the basis of simple premiums but on implicit volatility models devised to provide scientific comparisons between titles in the options market
retaliation does not have to be matched product to product denman said
the commodity credit corporation ccc accepted a bid for an export bonus to cover the sale of 7000 tonnes of mixed poultry feed to north yemen the us agriculture department said
iea forecasts slower growth in oecd oil demand
it said filter products will operate as part of donaldsons industrial group and its manufacturing operations will be relocated to dixon ill from evans city pa
total enrollment so far in the 10 year conservation program is 89 mln acres
the cost of transport is higher than the value of the animal he said
if prices decline and yields rise it may be priced at a fraction below that one dealer said
the hunt group said it offered on march 3 to buy the entire 53 pct stake held by dissident shareholder donald carter at 14 dlrs each but has received no reply as of yesterday
baker said in the newspaper interview that it was a subject i prefer not to talk about he said that if he explained why the us agreed to help maintain the dollar at current levels i would of necessity end up getting into some of the private agreements that support such and agreement on the dollar
the japan fund inc said it has received an unsolicited offer from sterling grace capital management lp acting together with certain other persons and entities to purchase all the assets of the fund at five pct below its aggregate net asset value
citicorp is the largest bank group in the us and one of the biggest lenders to latin america with some eight to nine billion dlrs outstanding to brazil mexico and argentina bank analysts said
the steel and energy concern will earn about one dlr a share in 1987 about half of that coming from asset sales and from two dlrs to 250 dlrs in 1988 bradford said
dealers said the bundesbank would want to inject enough liquidity in this weeks pact to keep short term rates down
fees consist of 5 8 pct for management and underwriting combined and 1 1 4 pct for selling
asked to confirm reports by new york copper trade sources about pasars shipment problems marketing manager deogracias madrid told they are partly correct
microdyne corp mcdyo 2nd qtr may three net
telephone support systems inc tssi 3rd qtr
abu dhabi to reopen gulf oilfield hit in 1986 raid
american pork congress kicks off tomorrow
keppel corp ltd kplmsi said it has decided to increase its convertible bond issue to 75 mln us dlrs from 60 mln following overwhelming response since its launch on march 24
it said the bonds are available in book entry form only in increments of 10000 dlrs and 5000 dlrs thereafter
shr 60 cts vs 48 cts net 350 mln vs 278 mln revs 1472 mln vs 1316 mln nine mths shr 167 dlrs vs 138 dlrs net 973 mln vs 779 mln revs 4224 mln vs 3855 mln avg shrs 584 mln vs 565 mln
shr 20 cts vs 12 cts net 34088000 vs 18727000 revs 3404 mln vs 2003 mln nine mths shr 53 cts vs 31 cts net 88661000 vs 49059000 revs 9265 mln vs 5601 mln avg shrs 1511 mln vs 1370 mln
syndication for elders ixl ltds elxas 100 mln australian dlr note issuance facility has been completed arranger westpac finance asia ltd said
raycomm transworld racmo to make acquisition
below 20 degrees api the company will adjust its price 0020 ct per one tenth of a degree
haiti has provisionally applied to the icco as an exporting member and accounts for 092 pct of world cocoa exports they said
each warrant is exercisable into 100 shares of common stock of japan synthetic rubber
the underwriting syndicate expects the finance ministry to propose a 02 to 03 percentage point cut in the coupon of the 10 year government bond to be issued in april from the five pct march issue underwriting sources said
one of four major japanese securities house bought 395 pct of the total 10211 billion yen in bids accepted ministry sources said
today the world bank chief will visit bank funded projects in the eastern section of java indonesias most populous island
telecom received 107 mln dlrs at closing with the balance to be paid in installments
shr 28 cts vs 32 cts net 2823000 vs 3216000 rev 479 mln vs 429 mln note the 1986 earnings per share adjusted for a four for three stock distribution paid may 1986
some officials hope the oecd results will be used as a basis for negotiations during the uruguay round of global trade talks now underway in geneva
harmon industries inc said it signed a letter of intent to acquire for about 35 mln dlrs a majority of the stock of snp inc a portland oregon based company which has patents to reprocess used railroad ties into new ties for resale
santa fe southern pacific owns the santa fe railroad and holds the southern pacific railroad assets in trust while awaiting federal approval of the merger plan
pointing out that such funding was difficult today in the best of circumstances he said it would be impossible if congress did not have confidence in bank lending policies
the federal national mortgage association said it will announce its coming debenture offering next monday instead of this friday as originally scheduled
commerce dept
poehl told a conference in frankfurt on tuesday the central bank has no interest in higher capital market rates and he thought the global rate increase was a cause for concern
the reserves hit a record 53 billion us dlrs last month
uptrend remains intact for debt futures
it estimated the 1985 86 crop at 1706 mln tonnes vs 1714 mln last month
however financial market sources said they had heard the ministry has asked life insurance and securities firms to refrain from selling dollars but they were unable to confirm this directly
but usda officials said even if consultations were held soon a subsidy offer would probably not be made
ecuadorean president leon febres cordero said his country was unilaterally suspending payments to private foreign banks due to last weeks earthquake which caused up to one billion dollars in damage
on june 30 1987 foreign brokers will be allowed to own up to 50 pct of canadian brokers and the percentage will rise to 100 pct a year later
the licenses of the broadcast properties have long been entangled in a series of challenges
in view of the limits to the possibilities monetary policy had in influencing the longer term capital market the association saw little sense in wanting to boost the economy through a short term and expansionist monetary policy
cyclops cyl says dixons agreements binding
toyota motor credit issues 23 billion yen bond
the pins provide a mechanism to finance the growth needed by these debtor nations provided they are willing to welcome foreign equity investment into their economies ongpin told a businessmens meeting
wall street stocks anacomp inc aac 
frances current account payments surplus slipped to a provisional 300 mln francs seasonally adjusted in january from a downward revised surplus of 38 billion in december the finance ministry said
wholly owned mobil corp mob unit mobil oil australia ltd reported a 3863 mln dlr net loss in 1986 a turnaround from its 3725 mln profit in 1985
but speculative pressures started to build again this week after baker was quoted on british television at the weekend as repeating earlier statements that washington had no target for the dollar
iaes other owners are rolls royce plc japanese aero engines corp fiat spa and mtu of west germany
australia the largest beef supplier to japan has been trying to boost exports prior to the expiry of a four year beef accord next march 31
qtly div 26 cts vs 25 cts prior pay april 15 record march 31 note one valley bancorp of west virginia inc
bank fuer gemeinwirtschaft ag bkfgf year 1986
shr 75 cts vs 64 cts net 11174000 vs 7408000 sales 2188 mln vs 1063 mln nine mths shr 180 dlrs vs 154 dlrs net 23762000 vs 16603000 sales 4148 mln vs 2959 mln note 1987 net income excludes preferred dividends of 24 mln dlrs in the quarter and 27 mln dlrs in the nine months compared with 188000 dlrs and 563000 dlrs in 1986
flagler bank corp flglao 1st qtr net
the property sector is also sought after with japanese companies that have invested heavily in the united states in recent years turning their attention to undervalued real estate particularly in the tourism field
oats season begins june 1
development corp of america said its merger with lennar corp len was completed and its stock no longer existed
shipments from plants increased to 30467 short tons in february from 27041 short tons revised lower in january the abms said
nerco inc said it has agreed to acquire a 47 pct working interest in the broussard gas field in southern louisiana from privately owned davis oil co for about 225 mln dlrs in cash
shr 99 cts vs 77 cts net 127 mln vs 9736000 avg shrs 128 mln vs 127 mln nine mths shr 267 dlrs vs 230 dlrs net 340 mln vs 291 mln note net includes pretax securities gains 16000 dlrs vs 228000 dlrs in quarter and 48000 dlrs vs 1673000 dlrs in nine mths
uk project expenditure in 1986 rose to 208 mln stg from 184 mln while exploration expenditure dropped to 87 mln from 156 mln
if the idea of land reform is to increase income levels production and employment then it wont happen he said
the measure said the attack was a firm indication of us resolve that iran cannot take military action against the united states with impunity earlier the senate cut off republican stalling tactics and set a vote on a measure that could give congress a larger role in making gulf policy
guillaume was head of the fnsea for many years before being appointed farm minister last spring
usx x debt dowgraded by moodys
another commented baker will miss him but hes not going to stand in his way there has been widespread speculation since last autumn that darman sought a wall street job
terms of trade are the difference between import and export price indexes
trading did not open in these issues either
federal express corp fdx 3rd qtr feb 28 net
the gloomy profits and sales resulted from the yens recent appreciation against the dollar and a sharp drop in market prices due to severe sales competition at home and abroad
gabelli group cuts gencorp gy stake to 63 pct
shares of dome petroleum ltd posted their biggest gain in months in the us and canada as stock markets foresaw a takeover tug of war beginning for the debt heavy company
capital costs would be 223 mln dlrs with all new equipment and 500000 to one mln dlrs less with used equipment the firm said
1986 year includes gain of 35000 dlrs from tax loss carryforwards
the owens illinois subsidiary which began the tender offer on september 23 will not be able to buy brockways common shares until 10 days following owens illinois compliance with the ftc request or other conditions
baird corp said the massachusetts state court for suffolk county has granted it a temporary restraining order prohibiting mark iv industries inc iv from further purchases of baird stock until mark iv complies with the massachusetts anti takeover statute
paxar corp said it has acquired thermo print gmbh of lohn west germany a distributor of paxar products for undisclosed terms
national westminster bank usa 1st qtr net rises
cargo handling resumed at bangladeshs chittagong port today after 7000 workers ended their three day walk out triggered by a pay dispute port officials said
one of four major japanese securities house bought 395 pct of the total 10211 billion yen in bids accepted ministry sources said
it compares with 1925 mln planted in the same period 1985
allegheny said it intends to vigorously defend itself against all charges
however a spokesman for the commission confirmed the offers had been made to intervention agencies in various member states and said it would now take up to three weeks for the agencies concerned to complete all necessary documentation
it said each right entitles the holder to buy one tenth of a share of preferred stock of st
ryder system inc said it has acquired caledonian airmotive ltd from british caledonian group plc for undisclosed terms
the bank said nervousness in the wholesale deposit market is creating uncertainty about the immediate outlook for interest rates
woolworths ltd wlwas said policy management and financial changes initiated during the 1986 87 business year should cause profits to reach more acceptable levels in 1987 88 end february 1
ohio edison sells 30 pct of nuclear interest for 509 mln dlrs
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
power corp details preferred share subscription
parsow partnership ltd a nevada investment partnership said it lowered its stake in erc international inc to 343500 shares or 83 pct of the total outstanding common stock from 386300 shares or 93 pct
dole also said it would be a very close call in the senate whether to open up the farm bill to general debate this year
period ended february 28 shr loss 11 cts vs loss 11 cts net loss 1309000 vs loss 937000 revs 5271000 vs 4417000 avg shrs 11690000 vs 8724000
forstmann little said it acquired sybron in february 1986 and since that time sybron has been substantially restructured with new management lower corporate overhead and a new location in saddle brook nj fortsmann little said goldman sachs and co will act as its financial advisor for the move
standard and poors corp said it lowered the ratings on loral corps subordinated debt to bbb from a minus
the fundamentals are good asked if metal prices will continue to rise durham said all i know is fundamentals cannot be ignored he said copper supplies are lower than they have been for almost 20 years
guangdong international trust and investment corp is preparing to issue 300 mln hk dlrs in bonds in hong kong the china daily business weekly said
finance minister edouard balladur said the revised figures would not push the government off its chosen mix of price deregulation budget cutting rigour and pay restraint
this was the highest positive balance since the question was first asked more than 10 years ago the cbi said
all paris club agreements contain a generally accepted outline for a rescheduling but the specific terms must then be negotiated on a bilateral basis
furniture ufurf ups bench craft sofa stake
in future banks will be able to offset this tax credit only against tax on the profit on the relevant loan he said
jamaica agreed in principle with its bank advisory committee on a rescheduling of 181 mln dlrs of foreign commercial bank debt falling due between 1987 and 1989 the jamaican information service said
he gave no details on price
equity oil co eqty 4th qtr loss
reportedly the feeling was the first figure which includes customs freight and insurance allowed a better comparison with other countries that reported their trade balances on the same basis
current law requires that the united states vote against such loans but carries no reprisals if they are ultimately approved by the banks
he said he had nothing further to add
the issue is guaranteed by fuji bank ltd
the internal revenue service estimates about 100 mln individual income tax returns will be filed for the 1987 tax season up from last years 94 mln forms
a further increase in tax levels was expected in future
the cabinet approved a separate bill that analysts said includes provisions to make more difficult the build up of major new stakes in belgian companies
shr profit 47 cts vs loss 38 cts net profit 4767000 vs loss 2623000 revs 237 mln vs 3629000 avg shrs 11242166 vs 6895290 nine mths shr profit 89 cts vs loss 49 cts net profit 7726000 vs loss 3350000 revs 388 mln vs 7172000 avg shrs 9410497 vs 6895290
ganilau said in a statement the fiji sugar corp would make a payment of five dlrs per tonne against the final payment for the 1986 crop on the understanding that preparations by growers for commencement of harvesting would be completed at all mills by june 23
eishiro saito chairman of the federation of economic organizations keidanren said the yens present rate is well above adequate levels
gothenburg material is often a target for merchants shipping to the ussr traders said
regency also reported 1986 earnings of 5695000 dlrs or 37 cts a share on revenues of 409 mln dlrs
he said demand in rural areas will in future rise an annual four pct with demand in the cities rising an annual two pct
brazil has been the most strongly against any change in the formula because it feared a lower quota
but she said by june worries about a freeze in brazil growing areas will become more of a market factor with prices likely to consolidate ahead of that time
they will be more aggressive this year than they have ever been according to richard loewy analyst for prudential bache securities inc
noting that the dollar yen rate is in a sense the most controversial one because of the large us trade deficit with japan analysts said the stage could be set for another test of the dollars downward scope against the japanese currency
in a statement accompanying its 1986 results it reported a rise of over 10 mln stg in 1986 pretax profit to 496 mln stg and said there are signs that the existing threat of excess supply may be lessened in 1987
it wanted a clause saying buyers of non performing assets could not be prosecuted
sales of compact disc players rose to 450000 from 300000 and those of the walkman rose to 225 mln from 130 mln but colour television sales fell to 950000 from one mln due to lower exports to china
moodys investors service inc said it may downgrade the debt ratings of gaf corp because of its 31 billion dlr acquisition offer for borg warner corp
household financial corp ltd is issuing a 75 mln canadian dlr bond due april 23 1994 carrying a coupon of nine pct and priced at 101 3 4 said orion royal bank as lead manager
the proposal involved less than one third of the assets and liabilities of sears savings owned by sears roebuck and co s the fed said that it generally has determined there were potentially adverse effects of allowing affiliations of banks and savings and loan associations although it has allowed bank holding companies to acquire some failing thrifts
rapeseed disposals were reported at 21 mln tonnes by september 20 against 14 mln at that time last year
in december opec set a provisional fourth quarter level of 183 mln bpd now cut back to the third quarter target
chemclear said it is considering other options including other business combinations and financing through commercial lending and other financial institutions for internal expansion
guinness said last week it planned to take legal action to recover the funds paid to non executive director thomas ward via the jersey company
these missiles pack a fairly big punch he told 
inc reut 4th qtr
february orders for electric and electronic goods were 619 mln us dlrs up from 574 mln in january and 370 mln in february 1986
opec conference president rilwanu lukman said he expects next weeks ministerial meeting in vienna to be brief and calm and that opecs current price and production agreement may only need a slight review
the brazilian negotiations resume on friday in new york when central bank governor francisco gros is expected to ask banks for a 90 day roll over of some 95 billion dlrs of term debt that matures on april 15
the mainichi shimbun quoted nippon steel as saying that chinas state planning commission and some chinese firms have asked japanese makers to sell them steel works and rolling mills to expand steelmaking cheaply
it said last november that the drought reduced total national areas sown with paddy to some 825 mln hectares this year down from 884 mln a year ago
the jeep line is a worthwhile extension for chryslers product line but the presumed price seems hard to justify
diplomats said they expect three soviet tankers initially to reinforce other flags already supporting kuwaits 22 tanker fleet
these options boost production while avoiding the huge costs associated with proposals like an oil import fee herrington told a house energy subcommittee hearing
chevron said a sidetrack well on block 16 26 on the uk continental shelf tested 9000 barrels per day bpd of 20 api crude oil from the tertiary alba sand through a three inch surface choke
woodville which makes high technology precision products for aerospace automotive and other industries had 1986 sales of about 24 mln stg it said
last month balladur said french gdp had grown by just two pct last year compared with an initial 1986 target of 25 pct and 11 pct growth in 1985
the judge told attorneys he needed time to hear other cases
and on wednesday the long term vision of the ecu as europes common currency took a step nearer to becoming reality when belgium minted the worlds first ecu coin
for the first five months of 1987 the overall balance of payments showed a surplus of 299 billion lire against a deficit of 2854 billion in the corresponding 1986 period
the conference therefore decided to reinstate the group of five heads of delegation established by the 77th extraordinary meeting of the conference in april 1986 to undertake the necessary contacts with those countries
the pre tax figure fell to 788 mln crowns from 872 mln in 1985 on sales increased from 41 billion to 42 billion giving net earnings of 521 mln crowns against 604 mln in 1985
industry sources told yesterday that fundamental was close to acquiring the government securities brokerage division of mki a major broker of corporate bonds
italys gross domestic product calculated at 1980 prices rose 24 pct in the fourth quarter of 1986 compared with the same period in 1985 national statistics institute istat said
the company said comdata shareholder approval would also be required for its proposal
schlesinger was responding to questions following remarks yesterday by bundesbank board member claus koehler and west berlin state central bank president dieter hiss which dealers said revived some speculation that german interest rate cuts may be under consideration
but it said that the purchase of ae which was won after a long and acrimonious battle last year greatly strengthened the groups position in the automotive components and engineering materials sectors
under current law producers must plant at least 50 pct of their base acreage to be eligible for 92 pct of their deficiency payments
edward johnson of johnson redbook said he recommends selling
a spokesman for the government controlled mining company said the countrys cobalt production fell 24 pct to 879 tonnes over the same period while cobalt sales rose 92 pct to 1734 tonnes
earlier today the company proposed to the federal communications commission to scrap the formula cut the amount of time needed to approve rate proposals and leave it up to its competitors to oppose it filings
another said the central bank seemed to be trying to push the dollar up above 150 yen
the company said items to be discussed included price structure and form of consideration
loan loss provision 8800000 dlrs vs 6300000 dlrs
but ogpin denied manila was playing down the prepayment aspect of the restructuring
calling the governments policies unbalanced and unjust he also demanded investment incentives to boost employment
gencorp said it withdrew the proposals so that it could focus its attention on the takeover offer
ford f credit unit sells new zealand dlr frns
in 1986 the company said it opened nine stores and closed three
the five year non callable bullet bond is for payment on march 24 and coupon payments are annually on march 25
his comments rocked the currency markets and helped send the already fragile us and overseas stock markets into a tailspin
french inflation confirmed at 02 pct in may
shares not accepted in bilzerians tender would be exchangeable for 20 dlrs in convertible preferred stock
oman has granted term crude oil customers retroactive discounts from official prices of 30 to 38 cents per barrel on liftings made during february march and april the weekly newsletter middle east economic survey mees said
kern river crude at 13 degrees was increased 100 dlr to 1300 dlrs bbl
coastal a natural gas producer and pipeline company earned 716 mln dlrs on sales of 67 billion in 1986 about half the its 1985 profits due to slumping energy prices
1986 fl yr net includes 900000 dlr net writedown of stake in hecks
argentine grain oilseed export prices adjusted
arco jumped 1 3 4 to 81 3 4
qtly div four cts vs four cts prior pay march 31 record march 20 note first federal savings and loan association of brooksville
terms were not disclosed
after januarys rise the government was forced to revise its inflation target for 1987 to 25 pct year on year from an initial target of two pct after 21 pct in 1986
miles said despite last years rapid expansion in cathays flights and fleet load factor is still holding up at 70 pct
paul cain a vice president at shearson lehman brothers said the elimination of price limits will cut back on panic buying or selling and contribute to more orderly markets
reserve bank cancels weekly nz t bill tender
moodys investors service inc rates the bonds b 1 and standard and poors corp rates them b plus
arundel corp arl 4th qtr net
besides the financing it would raise through a bank syndicate bank of america has also agreed to provide a separate 25 mln dlr for the limited purpose of partial financing and has committed to provide another 592 mln dlrs redstone said
taketomi said it may have received a further boost from government buying of farm products as the domestic crop last year was good
group sales 1383 billion francs vs 1388 billion
money market dealers said conditions seemed right for the bank to cut its intervention rate at the tender by a quarter percentage point to 7 3 4 pct from eight reflecting an easing in call money rate last week and the french francs steadiness on foreign exchange markets since the february 22 currency stabilisation accord here by the group of five and canada
anzola said exchange rates for these transactions will depend the type of investment the creditor intends to make with export oriented companies to be favored
output in 1987 is expected to reach around 45 mln tonnes unchanged from 1986 because of drought low use of fertiliser and overstressed palms they said
you want your stock to reflect realistic valuations to enhance your ability to make all kinds of endeavors down the road said ef hutton group analyst michael lewis
soybeans are dirt cheap said lisbeth keefe of cargill investor services whose comments were echoed by other cotton market specialists
they said they have spent 35 mln dlrs on their stake so far
cominco said it is filing a preliminary prospectus with securities regulators in all canadian provinces
wiggins was among five paradyine executives who were charged along with three former officers in a 1985 federal indictment stemming from a 115 mln contract awarded to paradyne in 1981 to build a computer network for the social security administration
bankeast corp benho 3rd qtr net
awb chairman urges farmers not to cut plantings
after reaching 30 cents there is a chance of appreciation to 32 cents in the next several weeks one dealer said
pay date is march 30
ortiz mena declined to agree with estimates that capital outflows from latin america last year totaled 35 billion dlrs and that therefore he was calling for an inflow into the region above that sum
fiat may issue bond for libyan stake paper says
hernandez defined the meeting as an informal exchange of ideas about the oil market
united jersey banks ujb to merge two banks
france faces pressue to change policies
in 1983 walter haefner a swiss financier and a major wyly investor lured gregory j
terms of the transactions were not disclosed
novamin in proposed buyout by breawater bwrlf 
superdrug shares firmed to 670p from 480p on friday
public hearings on the sanctions are set for april 13
the market seems to have accepted the modest cut for the time being said midland bank treasury economist david simmonds
alcan said the technology which reduces the weight of a cars basic structure by up to 50 pct can improve handling and performance and reduce fuel consumption for any size car
period ended january 31 shr 22 cts vs 16 cts net 518564 vs 374198 revs 2090724 vs 1614079
ugandas state run coffee marketing board cmb has been suffering a cash crisis for the past two months due to a bottleneck in export shipments and administrative delays in handling payments trade sources said
they are more appropriately today looking more optimistically
harcourt said in a statement this week that salomon brothers inc sb and mutual shares corp have intervened in the case claiming ownership of more than 30 mln dlrs face amount of the debenture
conable defended his own reorganization plan for the world bank which he said was aimed at improving efficiency and limiting a growing bureaucracy
shr profit eight cts vs loss 10 cts net profit 622000 vs loss 564000 revs 7508000 vs 1913000 year shr profit 15 cts vs loss 28 cts net profit 933000 vs loss 1548000 revs 198 mln vs 4799000
alpha recently submitted a second offer to acquire the stock of american medical international inc ami at 22 dlrs a share in cash and securities which is still being considered by american medicals board pesch said
nynex disagreed with the departments recommendation to retain restrictions on long distance service within a local service region staley said
the proposed tax also violates the zero duty bindings agreed between the ec and us in 1962 he said
the bank committee headed by citibank had been pressing brazil to make at least a token payment of interest but gros said this was not possible right now
shr loss 46 cts vs loss five cts net loss 3922000 vs loss 420000 sales 160 mln vs 239 mln avg shrs 8567000 vs 8458000 nine mths shr loss 102 dlrs vs profit 35 cts net loss 8685000 vs profit 2978000 avg shrs 8547000 vs 8437000
portugal contracts for 150 mln ecu loan
on february six vulcan initially offered to acquire jones and vining for five dlrs a share but jones and vining dismissed the offer as frivolous and without substance and said the bid failed to comply with provisions of the securities act of 1934
instead irt mandated chandler partnership to find potential investors with whom the issue can be preplaced and to then place on a best efforts basis what ever amount may not be subscribed
baker when asked if the policy was changed in view of comments yesterday by a senior commerce department official who said he thought the japanese yen was undervalued against the dollar by 10 to 15 pct replied no yesterday robert ortner undersecretary of commerce for economic affairs said he thought the yen was undervalued but said that was his personal view
he said the effect of lower inflation and financial deregulation on monetary aggregates was now largely finished
france reduces trade deficit in february
shortcovering against an oversold situation continued to play a part in the extended rally with unsettled dollar rates versus sterling providing additional support
nazer said saudi arabia would continue to produce below its 4133 mln bpd quota if necessary to defend the 18 dlr price
plains resources inc plns year loss
manila said to offer debt bonds to banks
dom republic sells czarnikow 35000 tons sugar
norddeutsche affinerie will then be owned 40 pct by metallgesellschaft ag metgf and 30 pct each by mim and degussa but mim said it and metallgesellschaft are proposing a further arrangement to give them 35 pct each
he said the reagan administration has yet to decide on a retaliation list
kleer vu industries said the companys board authorized the sale of its neslemur co its cosmetic and toiletries company
the china daily said last month that grain output should reach between 425 and 450 mln tonnes by 1990 and between 480 and 500 mln by 2000
soybean production for 1986 87 is now estimated to reach between 77 and eight mln tonnes versus 78 to 82 mln tonnes estimated a week ago and eight to 84 mln tonnes estimated in mid february
for the past month fiji sugar farmers have delayed harvesting the 1987 crop pending a response from the governor general to demands following the may 14 coup
gm gm stock buyback wont affect s p ratings
drg plc drgll is issuing a 40 mln stg convertible eurobond due september 30 2002 with an indicated coupon of six to 6 1 4 pct and priced at par lead manager baring brothers and co ltd said
paperboard now has 6057495 shares outstanding
many businessmen said they strongly favoured quick elections as the best solution
cellular communications inc comm nine mths
exco chairman richard lacy told the acquisition was being made from bank of new york co inc bkn which currently holds a 501 pct and from rmj partners who hold the remainder
the duty for research remains at 385 cents per kilo and the replanting duty is also unchanged at 992 cents
domestic real demand increased 06 pct in october december after a one pct rise the previous quarter
the strikes have already cost a lot of money and damaged business and further delays would do even more damage zeebregts said
treasurys baker sees smaller trade deficit
bangladeshs cost of living index fell 109 pct in january to 479 after a 16 pct decline to 48428 in december 1973 74 base 100 the bureau of statistics said
the agriculture ministry said it revised its april june sugar consumption estimate down to 623300 tonnes on a refined basis from 637800 estimated at the end of december
ambassador nobuo matsunaga made the recommendation at a meeting with nakasone kyodo news service said
two traders who asked not to be named said separately brazil is expected to attend the meeting along with most or all of the central american producers
ec commission has open attitude on steel quotas
west texas sour at 34 degrees api was raised to 1810 dlrs
shr loss 32 cts vs loss 37 cts net loss 5374000 vs loss 6159000 revs 2413 mln vs 2532 mln
turnover in the cash market has actually been quite small one dealer said adding that price movements had been very volatile at times
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
under the pact nelson will have domestic home video rights and hemdale will be responsible for distribution in all other media
universal said it will operate as a wholly owned unit of questar under its current name
oper shr loss nine cts vs loss four cts oper net loss 108000 vs loss 55000 sales 3029000 vs 2694000 year oper shr profit 42 cts vs profit 15 cts oper net profit 511000 vs profit 177000 sales 133 mln vs 112 mln avg shrs 1233136 vs 1217981 note current qtr and year figures exclude operating loss carryforward gain of 26000 dlrs vs gain of 88000 dlrs in prior year periods
usage in february comprised 166 mln lbs of edible products and 54 mln lbs of inedible products
the company said it will seek waivers to defer these interest payments and those due march 31 for enough time to enable the company to accomplish the proposed sale of its operations
until now car phones have been linked with land stations and have been limited mainly to urban areas
toshiba sharp restrain lap top pc exports to ec
the world bank report said the governments policies had reduced inflation and short term increases in consumption at the apparent cost of price distortions overvaluation of the currency balance of payments disequilibrium reserve losses and sharply diminished creditworthiness
saatchi and saatchi buys cleveland consulting
company recently raised equity and voting interests in hees international corp to 134 pct and 161 pct respectively
numbers released by the fed today were all in line with expectations and similar to the data for most of this year
lvi group inc said it has agreed in principle to purchase all outstanding shares of spectrum holding corp for a proposed 13 mln dlrs in cash
james mccaughey former vice president of sales for kaiser has been named general manager for the plant which will be called napa pipe corp oregon steel said
standard and poors corp said it affirmed banner industries incs 135 mln dlrs of b minus subordinated debt following its purchase of rexnord inc
man ltd and singapores yeo hiap seng ltd jointly announced that man will buy a substantial stake in yeos 711 pct held unit yeo hiap seng enterprises ltd
the 140 billion dlrs of 182 day bills were priced at an average 96488 dlrs against 96549 dlrs last week to yield an average 730 pct versus 717 pct last week
chang said the pace of increase in our reserves is much slower now than before and our currency is getting more stable he said the reserves mainly the result of the trade surplus with the us rose at the rate of two to three billion us dlrs a month between january and may
analysts said rumors were fed by the reorganization of shearson management wednesday
he said the punte del este agreement had taken eight months to prepare and eight days of negotiations
british prime minister margaret thatcher threatened to block japanese financial firms from london after the japanese placed what the british say are restrictive conditions on a bid by british firm cable and wireless to join a domestic telecommunications joint venture
up to another 67 billion dlrs worth could be issued between january and august 1987 according to usda
no intervention dollar fixed at 18063 marks
the company as usacafes inc had paid a quarterly dividend of nine cts per share
chit said a new joint venture company will have a registered capital of four mln dlrs
telephone and data systems inc tds year net
great american said it paid about 61 mln dlrs for its 462400 atcor shares
at the same time the industrial countries see little evidence of a strengthening of economic activity and the fund forecasts they will grow 25 pct
the bank of japan intervened in early afternoon tokyo trading to support the dollar against active selling by institutional investors and speculative selling by overseas operators dealers said
the company recorded these liabilities based on older higher tax rates but an action being considered by the financial accounting standards board could result in a gain of about 120 dlrs a share in 1987 it explained
washington national corp wnt votes dividend
this is a matter that is being looked into charles rule acting assistant attorney general antitrust told the senate judiciary committees antitrust subcommittee
french industrial production rose a seasonally adjusted three pct in february after an unrevised 198 pct fall in january the national statistics institute insee said
the two economic policymakers listened patiently to descriptions of plans for a third world debt facility backed by gold reserves of the international monetary fund
american cyanamid acy buys uk company
official figures show that china lost just under one pct of its arable land to other uses in 1985 and a slightly smaller amount last year
saudi arabian oil output has fallen to its lowest level in more than a year giving fresh evidence of the kingdoms determination to keep oil prices at 18 dlrs a barrel as agreed by opec last december oil industry sources said
first it is a blow for realism
jeremy ford vice president at bankers trust international ltd explained that us treasuries are used by intermediaries in swap transactions to lock in the spread the difference between the interest rate the borrower has to pay and the rate that the counterparty is obliged to pay
cambrian and general securities plc said the london stock exchange has restored the listing of its 50 mln dlrs of secured floating rate notes dated 1992 at the companys request
economists estimate up to five billion dlrs in speculative money flowed into taiwan in 1986
security pacific spc loans put on non accrual
chock full onuts corp chg offering of 60 mln dlrs of convertible senior subordinated debentures due april 15 2012 through a group led by drexel burnham lambert inc
the company may be forced to increase debt to achieve its strategic acquisition goals the rating agency added
api reported the amount of refinery capacity utilized up three pct for the week ended march 20
shr 1284 dlrs vs 307 dlrs net 46054000 vs 11026000 revs 4911 mln vs 4739 mln note current net includes gain of 851 dlrs a share on disposal of assets
however amstutz added that the united states would not be willing to discuss wheat prices with moscow if the issue is being cheap asked later by a reporter what he meant by the distinction between competitive and cheap amstutz would not elaborate
baker remarks aimed at confirming accord miyazawa
moodys investors service inc said it downgraded 16 billion dlrs of debt of standard chartered plc and its units standard chartered bank and union bancorp
the debentures are convertible into the companys common stock at 3035 dlrs per share representing a premium of 2515 pct over the stock price when terms on the debt were set
the board suspended offerings last week but because of its urgent need for cash it was not immediately clear how long it could sustain the sources added
duffour et igon shares will be suspended on april 6 and 7 and will resume trading on april 8
dixons group plc said it received a letter on march 19 from citicorp capital investors ltd part of the cyacq investor group making a rival bid for cyclops corp cyl proposing to drop the groups offer if dixons would sell cyclops industrial businesses to citicorp
a westdeutsche landesbank girozentrale westlb unit is raising 50 mln australian dlrs through a five year bullet eurobond with a 14 3 8 pct coupon and priced at 101 1 2 co lead manager westlb said
in alaska failures rose by 662 per cent it said
production of cocoa in indonesia increased to 32378 tonnes in calendar 1985 from 10284 tonnes in 1980
bankers said applications totalling two billion dlrs had piled up at the finance ministry which has said it wants to limit the amount of swaps to 100 mln dlrs a month
analysts said wendys has suffered largely from the burger wars between itself mcdonalds corp mcd and pillsbury cos psy burger king chain
japans delegate minoru endo and us ambassador michael samuels replied in the debate that the ec charges were unfounded but they were willing to continue bilateral talks
this budget is designed to please both the markets and the electorate
holden brown said allied lyons was able to finance the hiram walker gooderham acquisition with cash and borrowings and has no current plans for a stock issue
the imf mission arrived in lusaka on february 26 and its talks with the government have taken longer than expected
the spokesman was unable to say if the meeting would continue on friday
nymex to submit propane proposal to cftc
nbc said its proposals would give it greater flexibility in sports and news coverage
the bank of england said it had provided the money market with late assistance of around 215 mln stg
official figures show the number of new licences for industrial ventures fell 24 pct in the six months to march 1986 compared with the same period in 1985
shr 28 cts vs 22 cts net 206 mln vs 161 mln sales 2380 mln vs 1888 mln
the company said a definitive agreement is expected to be signed in april
company shares in each of the licences proposed by the oil and energy ministry are not final
but he said the fed may well foster higher interest rates soon
however baker and volcker accompanied by deputy secretary of state john whitehead acknowledged there were risks
under the february 27 accord venezuela will repay 203 billion dlrs of public sector debt over 14 years at 7 8 of a percentage point over london interbank offered rates libor this compares with the february 1986 accord which called for a 12 year term and interest of 1 1 8 point over libor
he said china aims to produce between 425 and 450 mln tonnes of grain by 1990 up from a target of 405 mln this year and an actual 391 mln last year
the deadline for seeking icc reconsideration of the merger plan is midnight tonight
concepcion speaking at an informal meeting of the general agreement on tariffs and trade gatt here said ministers declared in uruguay last september that the trade of less developed nations should not be disrupted
illinois power ipc files 50 mln dlr shelf
cost estimated for the facilites that the austin kawasaki team will propose to design and implement have ranged between 200 mln dlrs and 250 mln dlrs
mitsubishi heavy industries ltd mitht mhi and c
smith and nephew associated companies plc is issuing an 85 mln stg convertible eurobond due may 7 2002 paying a fixed coupon of four pct and priced at par lead manager credit suisse first boston ltd said
sarney addressing his cabinet live on television also reiterated that he intended to remain in power for five years until 1990
steel output in the major non communist producing countries fell sharply in february continuing a long running trend international iron and steel institute figures showed
but if the dollar falls steeply which did not happen yesterday japanese investors will definitely try to withdraw significant funds from us shares said akira kawakami deputy manager of nomura investment trust and management co ltds international investment department
after 1986 losses shareholders equity stood at only 895 mln francs
a technical team from the imf is currently in caracas gathering data for its annual report on the venezuelan economy the finance minstry said
the department said the delay will enable analysts to incorporate into the report usdas first supply and demand estimates for the 1987 88 marketing year and data on farm program participation
london and scottish marine oil plc lasll 
oper shr loss one ct vs loss 265 dlrs oper net loss 100000 vs loss 327 mln revs 1423 mln vs 1688 mln 12 mths oper shr profit 57 cts vs loss 276 dlrs oper net profit 7072000 vs loss 342 mln revs 5440 mln vs 5722 mln note 1986 oper net excludes tax credits of 2149000 dlrs for qtr and 2200000 dlrs for 12 mths
nova an alberta corp 4th qtr shr loss 15 cts vs loss 109 dlrs
ico talks on coffee quotas to resume at noon
gmac unit issues 50 mln australian dlr bond
the general government expenditure for the coming fiscal year is expected to total 1735 billion stg up from a revised 1649 billion in the current year
the effect of public authority cash movements on the money supply was slightly expansive the bundesbank said
but debate on the budget has been delayed by an opposition boycott of parliamentary business over the proposed imposition of a five pct sales tax and the government has only a slim chance of producing a meaningful economic package in the near future the dealers said
eqk realty investors i ekr sets payout
they are available in denominations of 1000 dlrs
opec reaffirms commitment to fixed prices ceiling
but the past five years of declining revenue have taken their toll
tennecos nance also said that some us cities may experience peak day shortages in natural gas supplies next winter because of the industrys reduced deliverability
making late filings of 13d forms which disclose the amount of stock over five pct an investor has in a company or making no filing at all could indicate a scheme to warehouse shares of stock
purolator agreed this past weekend to be acquired by managers of its us courier business and ef hutton lbo inc in a leveraged buyout valued at 265 mln dlrs
winterhalter inc said its shareholders approved the 525000 dlr acquisition of winterhalter by interface systems inc intf the acquisition would be for 15 cts per winterhalter share
the operation will put the outstanding bill supply at about 1300 yen
the floating rate class amounts to 60 mln dlrs
like yesterday it bought dollars and sold yen in small amounts they said
allegis said then that it would borrow three billion dlrs and pay shareholders a dividend of 60 dlrs per share lowering the companys net worth
but he said there was no cumulative downwards trend in view that would make quick remedial action necessary
he did not specify what steps he had in mind but said he would like to see automatic official lending when needed so that brazil would not have to dip into its dwindling reserves now reported to be below four billion dlrs
proposed offerings recently filed with the sec
renouf pointed out this exceeds the minimum number sought in the offer but its statement gave no reason for the extention
but the us embassy report says president suhartos government appears to be divided over what direction to lead the economy
a group led by new york investor asher edelman said morse shoe inc agreed to provide it confidential company information and that his group would make an offer to buy morse only in a friendly negotiated deal
britain also believed an imf program would help along negotiations between brazil and the commercial banks the statement which banking sources interpreted as an outright rebuttal of all brazilian demands said
it said it is in talks with the lessors in an attempt to restructure lease obligations
china has the potential to disrupt world markets especially in textiles
it said railway maintenance had 1986 sales of 16 mln dlrs and employs 100 people
agriculture ministry permanent secretary robbie mupawose said it had been found at a ranch in southwestern matabeleland province and that all measures were being taken to contain it from spreading
the 100 mln dlrs of 26 week notes went at an average 15414 from 15790 last week
british aerospace plc baell said it has increased its stake in systems designers plc to 221 pct or 2546 mln ordinary shares following the purchase of 1045 mln ordinary shares
the bank said the recipient of the 20 year loan will be oil india ltd oil which is the smaller of two public indian petroleum exploration and production companies
asked about possible quota changes a usda official said as far as i know changing the quota volume or the quota year is not under active consideration
the rise was mainly due to payment in january for a west german nuclear power station which led to a jump in domestic sales of 36 pct
eurosterling bonds continued to rise steadily bolstered by the extremely ebullient tone of the uk government bond market on a combination of positive uk economic fundamentals
in fiscal 1986 ended november 30 1986 hartmarx reported earnings of 248 mln dlrs or 120 dlrs a share down from the prior years 427 mln dlrs or 225 dlrs a share
murphy oil corp said its board proposed a reorganization in which it would acquire the 23 pct of common shares of its canadian subsidiary not owned by the parent
commenting on the layoffs iomega said those from among the direct labor force affects personnel building the alpha eight inch disk drive and bernoulli boxes
ptt according to statoil is currently negotiating with texas pacific to buy back the dallas based oil companys holdings in the field
the companys 1985 production was 2050 ounces
we cant believe the ec would willingly take measures to undermine our countries but such would be the impact of these measures wilson said
in a separate operation financiere robur is issuing a 14773 mln french franc eight year bond with a six pct coupon denominated in 1100 franc units and priced at par
exovir xovr sells stock for 28 mln dlrs
union national corp unbco 3rd qtr net
the company which is already listed on the london zurich basle and geneva stock exchanges as well as amsterdam aims to be quoted in frankfurt and dusseldorf in may van driel said
shr 26 cts vs 52 cts net 1386000 vs 2773000 revs 477 mln vs 385 mln nine mths shr 52 cts vs 97 cts net 2765000 vs 5419000 revs 1169 mln vs 97 mln
he urged continued negotiations among coffee producers to pave the way for a coffee export quota agreement by september
mobile america corp mame year end dec 31
1985s net included an extraordinary gain of 63 mln dlrs valhi said
originally guinea held 50 pct in the project and nigeria 162 pct with firms from several other countries also involved but the project ran into problems over funding and the slump in world iron ore markets
given the importance of this market to us industry in general and our defense base in particular we cannot stand by idly he said
this followed the success of the australian nugget gold bullion coins launched this year he said in a statement
the treasury said it had closed the offer early in view of the markets response and having taken into account the estimated state borrowing requirement for the current month
the two year loan with bullet repayment carries interest at 5 8 of a percentage point over the london interbank offered rate
the hague launches second tranche of cp program
one strong indication that some kind of deal may be eventually worked out is the almost complete silence coming from iran it said
telecom said it advised siemens it knows of no information which would make its representations and warranties untrue
they include parliament the bundesbank the federal banking supervisory board eight west german stock exchanges and their governing states and the four west german banking associations
hk shanghai bank standard chartered bank raise prime 1 2 point to 75 pct
the venezuelan central bank on june 17 suspended the licences of all 21 foreign exchange operators in the parallel market blaming their speculation for the constant rise in the value of the us dollar here
adjusted psl2 rose by 12 pct in february against a 06 pct rise in january the bank said
it matures on the same day in 1992
proceeds from the sale will be used to repay debt and for other corporate purposes the company said
he said venezuela currently produces about 14 mln bpd of crude oil which is in line with its 1495 bpd opec ceiling
next year the government will turn over to private collection bureaus four billion dlrs in bad education loans and three billion dlrs in other bad government loans wright said
he gave no trade forecast for 1987
many local bankers argue the only effective solution to the currency problem is to drop foreign exchange controls and allow the local dollar to find its own level
stanadyne stnao purchases ambac stake
rowe price associates inc said the steadiness of long bond yields around 75 pct despite some signs of a stronger economy probably reflects expectations that inflation will remain subdued
london meat futures need marketing chairman
the offering is the second this year under an 800 mln dlr shelf registration
lawson forecasts 25 billion stg uk current account deficit in 1987
distant contracts are already at a sharp discount to cash because traders anticipated high farrowing intentions she noted
the cbt has said it may apply for approval of the yen bond futures contract a cftc spokesman said
the stalemate over farm prices is seen as a key to providing a solution to a long term settlement of the communitys worst ever budget crisis
timber realization co said it has agreed to sell its remaining 50000 acres of timberland property in mississippi for about 113 mln dlrs in cash
the financing is for seven years and provides the borrower with the option to borrow in other currencies
polycast ptcc reduces spartech sptn stake
philadelphia electric co pe shelf offering of up to 15 mln shares of common stock through drexel burnham lambert inc
continental airlines inc a unit of texas air corp said it filed a registration statement with the securities and exchange commission for an offering of 350 mln dlrs of equipment certificates
this declined 12 pct in 1986 following a 24 pct improvement the previous year
gencorp gy alternative plan due within a week
sept 30 end shr six cts vs 17 cts net 1064000 vs 2676000 revs 1446 mln vs 1294 mln avg shrs 17121000 vs 16065000 six months shr 13 cts vs 25 cts net 2167000 vs 4029000 revs 248 mln vs 2492 mln avg shrs 17121000 vs 16065000
ball corp bll completes acquisition
cronus industries inc said it agreed to sell its heat transfer equipment business southwestern engineering co for a slight premium over book value plus a release of cronus from liability on approximately three mln dlrs of subsidiary indebtedness
mclean said sea land has tentatively agreed to pay 125 mln dlrs for six vessels certain port facilities and various other equipment used in us lines transpacific service and theree lancer class vessels and subsidy rights owned by the two mclean subsidiaries
year 1986 net profit 132 billion lire vs 82 billion ordinary share dividend 500 lire vs 400 note finanziaria di sviluppo spa a financial services subsidiary of fiat spa fiatmi said in a statement that shareholders approved a previously announced nominal share capital increase from 125 billion lire to 250 billion
consumer delegates said the same arguments in reverse would operate when prices are high the buffer stock should sell the highest priced cocoa in most demand forcing all prices lower
the loss reflected a combination of strikes plus scheduled and unscheduled refinery shutdowns for maintenance and inventory losses caused by government controls on both crude and product prices mobil said in a statement
qtly div 30 cts vs 30 cts prior pay april 16 record april three
electro sensors inc else year oper net
producers were offering us jam tomorrow but after their failure to discuss them last year promises were insufficient and we wanted a cast iron commitment now one consumer said
in 1984 a group of 17 us banks led by citibank converted 183 mln dlrs of debt from the cervecera nacional into 30 pct of the beer companystock
in 1986 company earnings were based an average market price for gold of 368 dlrs an ounce
us business loans fell 822 mln dlrs
the recent strength in materials has been concentrated in textiles paper and chemicals the fed said
he said he was happy with a good result for february but stressed a need for continued vigilance against inflation
however it added its belief that it was premature to decide at this time whether to reclassify the loans
but with consumer prices falling for much of 1986 and inflation negligible so far this year poehl thinks it is safe to relax the monetary reins a little and concentrate on the dangers to the german economy of a bloated exchange rate
arvin industries inc said it will offer 150 mln dlrs of debt securities
bank of japan dollar purchases today were perhaps 12 to 15 billion dlrs
general signal corp gsx 3rd qtr net
they said the agreement until now did not appear to have encouraged excessive production of rubber
the spokesman speaking from bonn said we have good reason to think west germany holds to its resistance to the proposed tax several top government officials told the american soybean association and the national soybean processors association delegations there was no reason for american producers and processors to pay for ec agriculture the spokesman said
lukman said that if refiner buyers now refusing to lift some opec oil at official prices instead used their own stocks and ran them down to dangerous levels they would eventually have to buy opec oil
britain must decide whether it wants to follow the us or throw in its lot with europe dunn said
first federal said subject to certain adjustments including first federals earnings prior to the close of the deal each share of its common stock shall not be converted into less than 29 shares or more than 35 shares of bankeast common
non refundable for five years the issue is rated a 2 by moodys and a plus by standard and poors
the us drilling rig count fell by four last week to a total of 758 against 723 working rigs at this time last year baker hughes inc said
he declined to give figures
concepcion speaking at an informal meeting of the general agreement on tariffs and trade gatt here said ministers declared in uruguay last september that the trade of less developed nations should not be disrupted
ffb corp parent of the first federal bank of connecticut fsb said it declared an initial quarterly dividend of five cts per share
float related as ofs were a negative 400 mln dlrs on wenesday due to a number of unrelated cash letter error corrections in five districts
american express also said an agreement was reached by shearson and nippon life providing for a joint venture in london
total value of the bill was estimated at 31 billion dlrs
the 50000 tonnes of australian wheat would arrive in bangladesh next month and be sold under open market operations designed to stop price increases the officials said
moscows decision at that time to reenter the us corn market strengthened the perception of warming farm trade prospects
with 81 pct of the membership voting 545 pct voted no and 455 pct voted yes the union said
thats hurricane force
the bonds due april 2 1992 are available in denominations of 5000 and 10000 dlrs and will be listed in luxembourg
uk banks offer fixed rate mortgages at 102 pct
a year before it lost 409100 dlrs after a 106300 dlr extraordinary gain
unilever dipped 33p to 3275 in a generally depressed uk market
it wants 70 pct over 12 months
corrected datron datr agrees to buyout
but sullivan said the dollar has been steady since late april
the hughes board objected to a us department of justice requirement that baker sell off several specialised subsidiaries in businesses related to oil drilling
norways central bank reserves totalled 9106 billion crowns in january against 9307 billion in december and 10529 billion in january 1986 the central bank said in its monthly balance sheet
nichemen 10000 tonnes number two srw wheat for june 12 july 7 at 10343 dlrs fob gulf
world group turnover of siemens ag siegf should rise to 51 or 52 billion marks in the current year to september 31 after a 19 pct upturn in the first five months management board chairman karlheinz kaske said
another positive for the stock is gms dividend currently five dlrs a share annually which gives it a higher yield than its competitors kirnan said
all foreign exchange must now be handed to local banks and exchanged for local currency
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
s and p noted that first amarillo has had three consecutive years of losses
managing board chairman guenther sassmannshausen said in december the board would prefer to stick to its policy of not dipping into reserves to pay dividends
channeling the us firms into a single merged competitor would most probably result in diluting cable and wireless share industry analysts said
the junior subordinated discount debentures to be issued in the merger will carry a 13 pct coupon and will begin paying cash interest after five years
commonwealth bank of australia is issuing a 15 billion yen dual currency bond due april 24 1992 with an eight pct coupon and priced at 101 3 4 pct salomon brothers international said as lead manager
medical care rose 03 pct in february to a level 71 pct above one year ago because of higher costs for prescription and non prescription drugs and medical supplies the department said
the swiss based pharmaceutical giant said the new group which formerly operated under its us pharmaceutical division represents the first time ciba has developed an operating group from within its corporate structure
cuban cattle threatened by drought
poland met the paris club of western creditor nations for renewed talks on rescheduling its debt repayments but no conclusive result was expected diplomatic sources said
the ministry is expected to allow four year euroyen bond maturities within a few months
there are 33 states plus the us virgin islands classified as free of bovine tuberculosis and 24 states plus puerto rico and the us virgin islands which have eradicated brucellosis
allied supermarkets inc said it entered into a definitive agreement to sell its michigan operations for about 46 mln dlrs in cash and debt plus assumption of substantially all of allieds liabilities other than senior subordinated debentures
mcdonalds an operator of fast food restaurants rose 1 5 8 to 77 3 8
the loan had originally been intended to finance an expansion of the pipeline but following the earthquake the ecuadorean government asked for the terms to be changed so as to permit their use in reconstruction
the european investment bank is issuing a 300 mln luxembourg franc seven year private placement with a coupon of 7 3 8 pct and priced at par lead manager caisse depargne de letat banque de letat said
producers can withdraw their intervention offer after april 1 when the sugar will officially enter intervention stores or at any time over the following five weeks before the official payment date
pancontinental operates gold and coal mines in australia and natural gas and oil fields in canada
but he said if circumstances changed i am sure then the opec members will consult with each other and take the necessary measures oil analysts say the opec pact could come under strain when demand for petroleum products generally falls in the northern hemisphere spring and summer
us export bonus poultry feed for north yemen
they added they expect the bank to allocate between 40 and 45 billion guilders
lawson said the uk economy is fundamentally sound and added that stock markets had reflected that recently
it suggested options for the administration to consider but made no specific recommendations
bilzerian said it was his understanding that the management particpation was nominal pay n pak fell 1 1 2 to 19
that means new drilling programs must begin no later than mid 1988 gaspar said
the official who played a key role in developing the us debt strategy and is an administration economic policymaker also said these new ideas would help commercial banks improve their role in resolving the third world debt crisis
herrington proposed the increased depletion allowance to the white house tuesday but the white house reaction was cool
the consensus appears for about two mln barrels to be added to the nations inventory
the locals bargaining committees are expected to meet and prepare for the reopening of negotiations with cominco he said
the rules could affect billions of dollars of eurobond securities issued each year
the chairman of the distributive trades survey panel nigel whittaker said a favourable budget next week would further help sales during the summer
the dollar intervention was in concert with some other central banks they said
stoltenberg sees moves to strengthen paris accord
eastman kodak co said it has reached an agreement to acquire new stock representing a 16 pct interest in industrial biotechnology company genencor inc for undisclosed terms
in a filing with the securities and exchange commission oppenheimer said it bought a net 477200 viacom common shares between jan 19 and march 3 at prices ranging from 4050 to an average of 4931 dlrs each
talking point bank stocks
net excludes tax credit 2540000 dlrs vs credit reversal 2300000 dlrs in quarter credit 5500000 dlrs vs nil half
world prices have less impact in italy than in france or germany as it is traditionally not an exporter but is geared to the domestic market an official at the national beet growers association said
basf ag basff 1986 year
shr eight cts vs 10 cts qtly div 30 cts vs 30 cts prior net 204064 vs 245931 nine mths shr 114 dlrs vs 52 cts net 2850042 vs 1291047 note 1987 and 1986 nine mths includes a net gain on sale of assets of 2258206 dlrs or 90 cts a share and 459503 dlrs respectively
elders extends offer for carling okeefe ckb 
the bank of japan does not intend to ease credit policy further bank officials told 
the transportation and energy company would both gain entry into a profitable business and win cost control benefits he said
the partners also said if they acquire gencorp they would also proceed with the proposed sale of khj tv in los angeles to walt disney co dis rko general would receive 217 mln dlrs and fidelilty television which challenged the license would get about 103 mln dlrs
siaahan said zaire is expected to produce 1900 tonnes of tin in calendar 1987 and that in 1986 its output and exports were about 1200 tonnes
colonial commercial corp ccom 4th qtr net
the important implication of the maekawa report is that it is finally looking to let japanese enjoy the fruits of their labour said philip caldwell senior managing director of shearson lehman brothers
desjardins group lowers visa interest rate
the company also announced final dividends of 44 cents per a share and 88 cents per b share against 323 and 65 cents a year ago
yet at the same time africas debt service was estimated at 245 billion dlrs a year between 1986 and 1990
this acquisition will give it all rights to proprietary solid and liquid ink technologies which had been developed by a joint venture operated by it and exxon corp xon dataproducts said
canada plans an auction of three year bonds march 31 and an auction of seven year bonds april 1 the finance department said
us cable tv credit unlikely to improve says s p
the agreement with edf man includes details such as trigger pricing mechanisms they said
shin etsu chemical co ltd said it had developed an ultra thermal resistance rubber which can be used at 250 centigrade continuously without losing its properties
mitsui and co ltd said it plans to issue 300 mln eurodollar warrant bonds in two tranches with payment on march 30 through a syndicate led by nomura international ltd
the twa offer was announced shortly after the piedmont board meeting was scheduled to begin
kinnear said pennzoils disclosure in court papers on friday that it wanted to extend the bond issue hearing until the end of april pushed texaco further towards chapter 11
malaysias gold and foreign exchange reserves rose to 1607 billion ringgit in february from 1573 billion in january and 1223 billion in february 1986 bank negara malaysia said
the goal of the administration policies is to increase domestic production
du plessis said available foreign reserves of the reserve bank which increased by about 800 mln dlrs in the past two months and a continued current account surplus will be sufficient to meet terms of the new interim debt agreement
the transfers would allow the country of registration to escort kuwaiti owned ships in the gulf
yugoslavia seeks 600 mln ecu loan from ec
general mills inc 3rd qtr shr 64 cts vs 52 cts
qtly div nine cts vs nine cts previously pay may 11 record april 17
exports in 1985 86 are estimated at 1771 mln tonnes vs 1772 mln last month
the warrants will be listed in luxembourg and pay date is march 31
hoechst ag of west germany said it has completed the acquisition of celanese corp
now this sounds like theyre going to join the group and buy themselves out said edward atorino media analyst with smith barney harris upham and co
the increased output will enable bangladesh to cut imports
the company originally reported 1986 earnings of 7700000 dlrs
shr 80 cts vs 72 cts net 55513000 vs 48741000 revs 2909 mln vs 2642 mln year shr 309 dlrs vs 272 dlrs net 213470000 vs 184649000 revs 112 billion vs 9929 mln avg shrs 69127000 vs 68004000
however orange production in the region for marketing year 1986 87 is forecast at 565000 tonnes or 25 pct of the total italian orange crop it said
sale of texas based krestmark a maker of doors door frames and other products will allow michigan general to concentrate on retailing through its diamond lumber and savannah wholesale units
ford motor credit co a unit of ford motor co is offering in the domestic debt market 100 mln new zealand dlrs of floating rate notes due 1990 said sole manager bear stearns and co
imports from europe rose to 182 mln us dlrs from 148 mln the official said
retail movement was 1652916 versus 2015953 a year ago
the hong kong market fell sharply yesterday and today as both cheung kong and hutchison announced a one for two bonus issue of b shares
it said in a statement the exchange will review the previously announced proposals of bonus issues of b shares by jardine matheson holdings ltd jardhk cheung kong holdings ltd ckghhk and hutchison whampoa ltd hwhhhk it added the exchanges listing committee will meet later today to consider these proposals
over 240 mln bushels of government grain have been allocated in redemptions for commodity certificates since the program began april 30 according to the commodity credit corporation
he said based on talks with staff members of gaming authorities there can be no assurance that the necessary regulatory review of its bid for caesars world can be completed by the original april three expiration date
inflation as measured by the gnp implicit price deflator will rise to around 33 pct this year from 27 pct in 1986
regie nationale des usines renault renapa said it and chrysler corp c have signed a letter of intent in which chrysler plans to buy american motors corp amon 46 pct owned by renault
eagle entertainment eegl issues bonds
turkish sugar factories said in the advertisement there was a 50 pct option to increase or decrease the amount and bids should reach it before march 24
essilor international essipa year ended dec 31
february levels of m 2 and m 3 left the aggregates 182 and 208 billion dlrs under their respective upper growth limits set by the fed for 1987
the company said it may now buy its stock at its discretion depending on market conditions
i am very concerned about the brazilian economy he told reporters after a news conference in tokyo
i believe we have bottomed out and can look forward to a trend of gradually increasing prices cw nance president of tenneco oil exploration and production told a meeting of the petroleum equipment suppliers association
electrosound group inc esg 3rd qtr feb 28 loss
the monetary authority of singapore mas had said it planned to launch trading by issuing taxable instruments grossing seven billion dlrs in the first year and a gross 38 billion dlrs of paper over the next five years
the cable and wireless plc group now holds some 70 pct of hk telephone
finally of course and there is no need to keep this quiet the cut in interest rates was also in line with the changed economic situation of the last few months he added
swiss based nestle sa s nestle enterprises ltd unit said it signed a letter of intent to acquire nabisco brands ltd s club melrose dickson and chase and sanborn businesses for undisclosed terms
south africa optimistic about debt talks
it called for comprehensive planning to coordinate production of cotton with that of grain edible oil and other crops but gave no more details
diplomats said that was unlikely to be enough to satisfy reagan who is under pressure from the democrat controlled us congress to take greater action to cut the huge american trade deficit
us oil demand as measured by products supplied fell 26 pct in the four weeks ended april three to 1573 mln barrels per day bpd from 1616 mln in the same period a year ago the energy information administration eia said
the group which includes the edward a
the week marked the second half of the two week bank statement period that ended on wednesday
corby distilleries ltd to buy heubleins mcginness distillers for 45 mln canadian dlrs
business editor offers 34 dlrs for harper hpr 
with the federal funds rate trading comfortably at 6 9 16 pct down from yesterdays 674 pct average economists said the fed did not need to take reserve management action today
an amsterdam court yesterday ruled there had been a legal fault in the employers redundancy procedure
there might have been some isolated storms but certainly nothing damaging said charles stichler an extension agronomist with the agricultural extension service in far west texas
during the remainder of 1986 87 supplies of most processed noncitrus fruit will be smaller than a year ago it said
shr three cts vs three cts net 165798 vs 143872 sales 1787561 vs 1072686 six mths shr four cts vs four cts net 175928 vs 191310 sales 3137695 vs 2723557 avg shrs 4862046 vs 4722150
it also said it recommend an unchanged dividend to the supervisory board
it said the investment should provide the necessary capital to complete the fda review process and provide a marketing outlet for the drugs
analysts said they do not believe a much higher offer could be made for american medical
nonetheless economists do not expect the fed to react to month to month changes
pergamon holdings ltd and its associate companies said that they had sold 30 mln ordinary shares in the british printing and communication corp plc bpcll and 105 mln in hollis plc together with other securities
the decision to cut deposits was taken by the icch after consultation with the london cocoa terminal market the spokesman said
shr profit 117 dlrs vs loss 12 cts net profit 113 mln vs loss 1038000 revs 1046 mln vs 1287 mln note current year net includes gain 9500000 dlrs from the sale of its specialty restaurants unit charge 1200000 dlrs from addition to insurance reserves 4600000 dlr tax credit and 660000 dlr charge from debt repayment
this allowed them to walk out and say weve kept faith with the venezuelan precedent one source said
encor energy corp plans 125 mln dlr debenture offer
this seasons total comprises 394 mln tonnes of wheat and 366 mln barley compared with 163 mln and 239 mln respectively a year ago
the merger of rexnord with a subsidiary of banner will be copmleted before mid may the company said
interest on both tranches is 1 8 percentage point over three months hong kong interbank offered rate subject to a 14 3 8 pct ceiling
they rejected the companys latest contract offer march 5
the bundesbank allotted only 61 billion marks yesterday in new liquidity in a repurchase pact at an unchanged rate of 380 pct thus subtracting some 88 billion marks from the market as an outgoing 149 billion pact expired
full acceptance of the offer would involve the issue of 662 mln new willis shares or 282 pct of the enlarged total
knutson mortgage knmc sees strong second qtr
note div pay may 27
federated department stores inc said sales for the five weeks ended april four were up 49 pct to 9349 mln dlrs from 8916 mln dlrs a year before the company said sales for the first two months of its fiscal year were up 68 pct to 165 billion dlrs from 155 billion dlrs a year before
the currencys decline was due to remarks on sunday by us treasury secretary james baker dealers said
ongpin said that by funding current interest payments in the secondary market through the pins scheme the philippines could conserve at least one to 15 billion dlrs of foreign exchange reserves during its planned seven year restructuring period
canton telephone serves about 2900 access lines in northwestern pennsylvania and had 1986 operating revenues of about 1300000 dlrs rochester telephone said
baker warns against forgiveness of latin debt
traders and analysts in international oil markets estimate opec is producing up to one mln bpd above the 158 mln ceiling
perelman needed the consent because he agreed in november not to buy stock for 10 years without permission
bankers acknowledged the political sensitivity of the interest spread but urged ongpin to examine the argentine package in its entirety
jones medical industries inc jmed 4th qtr net
we are determined to stand firm by the december accord he said
american sports advisors inc said it has agreed to sell its sports handicapping and publication business to professor enterprises for about 1650000 dlrs and intends to liquidate after closing
qintex again extends princeville pvdc offer
the financing will be in dollars and marks although mark borrowings cannot exceed 50 pct of the facility
the bank of france said it will offer 75 billion francs worth of negotiable treasury bills at its next public weekly tender on march 9
taiwans first quarter maize imports seen rising
shr 32 cts vs 29 cts net 3320206 vs 2990695 revs 135 mln vs 149 mln
swedish export credits 220 mln australian dlrs of 9 1 2 pct dual currency eurobonds due 1992
magma copper co a subsidiary of newmont mining corp said it is raising its copper cathode price by 050 cent to 6600 cents a lb effective immediately
1 the finance ministers and central bank governors of seven major industrial countries met today
prices could fall another 10 to 15 cents a pound analysts said
several bills which would establish a farm secondary market have been introduced in both the house and senate
in a filing with the securities and exchange commission the san jose calif gas lasers and accessories company also said its board sunday agreed to a plan that gives 52 top executives bonuses ranging from 20 to 50 pct of their base salary if they stay with the company through august 29
vernitron said that it currently expects the special shareholder meeting concerning the merger will be held in august
reliance electric unit to redeem debentures
it said the new wholly owned unit has extended a 350000 dlr secured line of credit to micro designs inc
gasoline demand averaged 672 mln bpd off 12 pct from 680 mln last year while residual fuel demand was 138 mln bpd off 21 pct from 141 mln the eia said
crazy eddie inc said its board of directors amended the companys shareholder rights plan in moves it said were designed to preserve stockholder protection and provide flexibility to the plan
however cuba is only one of a large number of exporters with reduced availability man said
further raiders should be required to make an all cash tender offer once they acquire 10 pct of a target companys stock he said
shr 38 cts vs 29 cts net 213 mln vs 158 mln revs 1026 mln vs 668 mln
denman told rostenkowski that gatt regulations prohibit member nations from taking unilateral retaliatory action in trade disputes unless the action is gatt approved
philadelphia suburban psc buys software firm
the maize harvest is expected to total between 10 and 102 mln tonnes down from the 10 to 104 mln tonnes estimated a week ago
uni marts immao acquires gas n all stores
broadview financial corp bdvf 4th qtr loss
in the previous auction for 1000 billion yen the four majors took 92 pct of the issue to increase their tankoku inventory the managers said
the bond is available in denominations of one mln yen and will be listed in luxembourg
don gevirtz chairman of the foothill group inc told the companys first quarter results will be up sharply over last years eight cents a share
decreased supplies will firm prices for crude oil but are not likely to change a growing dependence mcivor said
total stock exchange turnover for the month was 11673 billion stg marginally higher than the 11665 billion recorded in january but 129 pct more than the 5092 billion of february 1986
ranger rgo completes us property sale
the local dollar is expected to depreciate steadily in the early part of the coming year and by next march reach 575 on the reserve banks trade weighted index which is based on a basket of currencies
the plants will be closed for a week starting april six for inventory adjustment
but a bottoming out of the economy depends largely on the yens exchange rate trend in the immediate future agency officials said
things just arent adding up said steve slifer of lehman goverment securities inc
the figures showed the energy production index base 1980 rose 72 pct in january to 1264 from decembers 1179 and from 1246 in january 1986
shareholders approved an increase in authorized shares to two billion common and two mln preferred with a par value of 0001 dlrs per share
naturalite had sales of about 20 mln dlrs in 1986
federal reserve board vice chairman manuel johnson said the louvre accord is still healthy but said the united states and west germany must work out differences over their respective roles in fulfilling the accord
to cope with the negative impact of the strong yen japanese enterprises must strive to cut costs by all means including holding down wages as much as possible otsuki said
the spokesman said the firm had asked the transporation agency permission to buy all of piedmonts voting stock the but agency decided to give approval for 51 pct of shares
the philippines restructuring of 132 billion dlrs of foreign debt will provide a welcome boost for the economy but last fridays accord with the countrys 12 bank advisory committee does not imply an overnight boom bankers and businessmen polled by said
chiles consumer price index rose 17 pct in february to 56201 december 1978 equals 100 after increases of 20 pct in january and 09 pct in february 1986 the governments national statistics institute said
the combined dividend totals 56 cts for the march quarter an increase from the prior quarters dividend of 55 cts
quaker oats acquired vernells in august 1986 when it purchased golden grain macaroni co
export development corp is issuing a 15 billion yen eurobond due august 28 1992 paying 4 1 2 pct and priced at 101 7 8 pct lead manager bank of tokyo international said
the central bank spokesman said he did not know why seixas wanted to leave his job
soybean oil sales of 5400 tonnes were the result of increases for venezuela and reductions of 500 tonnes for unknown destinations
outstanding savings on december 31 1986 totalled 545303 billion yen
van ommeren acquires dutch gas container unit
the iea an alliance of 21 oil consuming countries was formed after the 1973 74 arab oil embargo to find ways to deal with any future oil cutoff
the communique was issued after two days of talks here between guinean natural resources minister ousmane sylla and nigerian minister of mines and power bunu sheriff musa
in a form 8 k filing with the securities and exchange commission endotronics said the note was for overdue accounts receivable from sales of instruments to yamaha and another japanese distributor during the companys 1986 fiscal year
shr and net include change in accounting policy resulting in loss of 228 mln dlrs or 116 dlrs share
in addition there would be a pre notificaton requirement that an investor intended to aquire three pct that would have to filed with the sec
tyco laboratories tyc 3rd qtr feb 28 net
schering said natures blend agreed to stop making and selling food supplement products under the fiber slim trademark but it did not admit liability
chauvco resources ltd year net
duvel has sold 300000 common shares to a private investor group to finance expenses of registration and 640000 shares will be paid to anova stockholders as a dividend it added
according to customs officials several green coffee importers confessed in 1985 that they had imported coffee fraudulently after buying it for non member destinations forging landing certificates and then relabelling it as navy beans
in the interview baker declined to comment about the recent paris accord among the six leading industrialized democracies when he was asked why the us agreed to stabilize the dollar at current levels when the trade deficit hit a record level last year
myra falls 1986 production was 44000 ounces of gold 966266 ounces of silver 455 mln lbs of copper 962 mln lbs of zinc and 777000 lbs of lead a company spokesman said
it still expects to complete the entire clean up by the end of 1988 he added
payment is due april 30 1987 and total fees are three pct
the bank also used its extraordinary earnings to continue a high level of risk provision christians said
his nakasone remarks should have been made and should have had a bigger influence when the dollar was still above 150 yen said ps tam of morgan guaranty trust
when ministers established the four year uruguay round to negotiate freer trade in 13 areas they set up the gatt surveillance body to monitor this commitment known in gatt jargon as standstill and rollback tran criticised washington for the superfund tax on oil imports a customs user fee and the removal of a special machine tool known as category fsc34 from its government procurement list for reasons of national security
compagnie generale des eaux eaugpa a french water waste treatment and disposal heating ventilation and air conditioning concern said it has a 50 pct stake in california water service co
conrac corp whose board has rejected a 25 dlr a share tender offer from mark iv industries inc iv said it is exploring alternatives such as a restructuring leveraged buyout or takeover of the company
the increase in exports of beef as a percentage of production has mainly been attributed to the decline in the australian dollar the amlc said
mayfair super markets inc myfra 2nd qtr feb 28
the state must set an example by keeping wage increases below the inflation rate he said
also excluded would be interest rate and foreign exchange contracts traded on organized exchanges
spain and portugal which are not members of the international tin council raised no objections to a common ec stance in favour
its amoco canada petroleum subsidiary is 100 pct owned by amoco corp
diplomats said they expected the chartered soviet tankers to sail between kuwait and khor fakkan on the united arab emirates uae coast a short way outside the strait of hormuz at the mouth of the gulf
foreign brokers get more access to japanese bonds
its littered with contingencies and it doesnt even have a financing arrangement said one executive at another major airline
growth is stagnant at about two pct a year and the outlook for inflation held to a 20 year low of 21 pct in 1986 is uncertain
the issue is a five year bullet maturing march 26 1992 and carries a coupon of 7 1 2 pct and is priced at 101 3 4
todays issue was the first for four year notes since last may which produced an average price of 9979 average yield of 4561 pct and a coupon of 45 pct the ministry said
cenergy reported a net loss of 727 mln dlrs in the nine months to september 30 1986 while total stockholders equity on the same date was 4072 mln dlrs
the department said the bonuses awarded averaged 3808 dlrs per tonne and the wheat is for delivery may november 1987
swiss bank corp said this is the first time malaysia has tapped the swiss capital market since it issued a bond here in july 1985
most economists estimate continued high inflation
wpp group plc said it is extending its 5050 dlrs a share offer for jwt group inc until midday june 22
firecom inc frcm 3rd qtr jan 31 loss
this seasonal reserve add is called a pass the fed demonstrated that there has been no policy change said elizabeth reiners economist at dean witter reynolds inc
the present interpretation of the credit law limits banks maximum lending to 18 times eligible capital reserves plus equity capital but sets no restraints on securities holdings
the preferred stock is convertible into 208334 berkey common shares and warrants to buy another 208334 shares
proponents of the measure including the american soybean association have claimed palm palm kernel and coconut oils are high in saturated fat and can contribute to heart disease
us trust corp first qtr shr 88 cts vs 83 cts
comment from officials in zaire was unavailable
gecc issues 75 mln australian dlr eurobond
supported by the reagan administration china argued that it could not be held liable for a debts involving bonds issued in 1911 and that it enjoyed absolute immunity
the company said the dividend was raised to 375 cts a share from 35 cts on a pre split basis equal to a 25 ct dividend on a post split basis
it is available in denominations of 1000 and 10000 canadian dlrs and will be listed in luxembourg
dome rose 1 4 to 1 1 8 on the american stock exchange and gained 31 cents to 144 canadian dlrs on the toronto stock exchange where it was the most active stock
carolin mines ltd said recent assays of tailings at its hope british columbia mine ranged from 050 to 064 ounces of gold per ton
first of america fabk michigan bank affiliate
the bank of finland said it has started dealings in banks certificates of deposits cds with immediate effect and that it was prepared to issue its own paper to stimulate operations on the domestic money market
the payment date is april 15
in an unrelated development rjr nabisco inc rjr paid what some bond traders said amounted to a penalty fee when the company tapped the domestic debt market on friday
drexel burnham lambert inc is sole manager of the offering the lawn products company said
sosnoff currently owns about 133 pct of caesars world
were not seeking a universal solution he said
the other problem is it is often difficult to supply or buy commodities which the other party wants another added barter is also restrictive
dealers said the bundesbank is keen to prevent too much liquidity accruing in the market as that would blunt the effectiveness of the security repurchase agreement its main open market instrument for steering market interest rates
partly offsetting this outflow exchequer transactions and a fall in note circulation will add around 425 mln stg and 360 mln stg respectively
for the week ended march 20 the api said gasoline stocks fell 27 mln barrels
it said the new survey is possible because of the new integrated nationwide survey program that uses probability sampling procedures that combine information from farmers operating in selected areas and farmers identified on special lists
the dealer who declined to be named said brazil wanted to preserve its market share
everyone in the government agrees that if there is a subsidy to be offered we would not offer it unless we had a firm commitment from the soviets that they would buy usda does not want a repetition of last summer when the ussr baulked at its offer of four mln tonnes of subsidized wheat the official who asked not to be identified said
but mexico halted its debt for equity program in february in an effort to concentrate on finalising the package
the company also said santa cruz has advised it that it owns 247 pct of foothills outstanding common stock
harrowing as well as well timed applications of nitrogen will be necessary he added
clearly there will be a need to gauge the effect of other proposed share issues so as to enter the market at the best opportunity prebble said
a rival french system won the contract
yesterday s and p upgraded to bbb plus from bbb the companys 86 mln dlrs of convertible subordinated debentures of 2009 and assigned a bbb plus rating to hechingers planned 100 mln dlr issue of convertible debt due 2012
diplomats said that in their initial reactions to the scheme most ministers declared it was a useful basis for discussion but did not go nearly far enough
as expected the strength in housing was concentrated in the single family sector
gander gndro buys western wear retailer
adams russell electronics aare in purchase
shr 25 cts vs 55 cts net 13 mln vs 2460000 note 1987 1st qtr includes loan write offs at banking subsidiary the colonial bank of mobile due to loan losses of 13 mln dlrs or 25 cts a share
sturm ruger submits bid for smith and wesson
the tender was originally for 120000 tonnes of british and 120000 tonnes of west german feed wheat for shipment only to poland
the exercise period is june 5 1987 to february 4 1992
3m mmm acquires control data cda unit
china construction bank mandates 150 mln dlr loan
the spokesman also confirmed that gaf did raise its bid to 48 dlrs cash from 46 dlrs per share on friday
the foreign exchange rate has been set at 14640 yen to the dollar but details of the conversion price were not immediately available
pearson plc psonl said camco inc its 654 pct owned us oil and oil services subsidiary signed a letter of intent covering camcos purchase from baker international corp bkon of substantially all the business of reed tool co reed a leading manufacturer of drilling bits had sales for 1986 of around 76 mln dlrs
the basic stance of the japanese government is to tackle the issues with all available resources the united states has accused japan of reneging on an agreement that called on it to stop selling cut price computer microchips in world markets and to try to import more american semiconductors
it certainly contributed to the general feeling of malaise one citicorp banker said in describing the impact of the mexican package on the banks decision to add three billion dlrs to its reserve for possible loan losses
moore medical corp mmd to make acquisition
shr loss 26 cts vs loss 12 cts net loss 289649 vs loss 138372 revs 5944286 vs 5902074
it said takeovers appear to be on the decline this year
completion of the transaction is subject to a definitive agreement regulatory approvals financing and certain other conditions and is expected to close may one 1987 the company said
the company said its directors met in new york today at a regularly scheduled meeting
a company spokesman said the mines monthly output is expected to consist of 1300 tonnes of gold ore and 3700 of black ore which consists of copper lead and zinc ores
they were change in sensitive materials prices money supply vendor performance average weekly initial claims for state unemployment insurance and contracts and orders for plant and equipment
finance minister domingo cordovez said two days ago the government seeks to postpone all the payments due to private foreign banks in 1987 until next year through negotiations with these creditors
woolworth z march sales up 02 pct
the facility would buy up some of the debt of less developed countries and sell it to banks at a discount
it would forfeit 190 mln dlrs of profits this year as a result but for a company which earned over a billion dlrs in 1986 the setback would be manageable
the vote in favor was despite a last minute revolt by an alliance of liberal democrats and conservative republicans who sought to defeat it as a signal that a growing number of legislators oppose president reagans policies in the region
because of brazils suspension of interest payments us bank paper has underperformed such other sectors as utilities telephones and industrials analysts pointed out
latin america urgently needs more money if it is to grow its way out of its deepening debt crisis but fresh ideas about how to stimulate new lending quickly seem to be in short supply
kistler said the cost savings and greater efficiencies should put the company on a profitable course
the cumulative trade deficit narrowed to 209 billion dlrs from 221 billion and the services deficit to 225 billion from 275 billion but the transfers deficit widened to 503 billion from 436 billion
the certificates will be sold through an uncommitted tender panel but the facility will be fully underwritten for five years by a syndicate of banks formed by bzw
the amounts they are talking about are peanuts m
warner voiced concern that the soviet union might use the situation in the gulf to raise its presence
france has expressed doubts about removing us missiles from europe so long as the soviet union maintains an edge in other weaponry particularly shorter range rockets conventional forces and chemical weapons
moodys downgrades baker international and upgrades hughes tool
however it said the labour market would see only a slight improvement because companies will be reluctant to hire additional workers due to higher labour costs caused partly by agreed reductions in working hours
dime savings bank ny dimeo 3rd qtr net
de bruyn said the tax on vegetable and marine oils and fats would be wide open to fraud difficult to police and hugely expensive administratively
ecuador pumped 245000 to 250000 bpd before the earthquake
hutchison whampoa ltd hwhhhk expects satisfactory profits in 1987 and will pay a higher dividend for the year chairman li ka shing said
astra owns five companies with interests in engineering paint manufacture and the distribution of farm machinery and equipment motor vehicles and earthmoving equipment
the bay area council a group of more than 300 business firms said that a study of corporate restructuring in a nine county area found that san francisco itself had suffered some ill effects from corporate shake ups but that surrounding communities had not
the french government is to sell to the public its 4742 pct direct holding in societe generale stgnpa s regional bank subsidiary societe generale alsacienne de banque sogenal from next monday sogenal officials said
effective with may three shipments it said the price base on carbon and high strength low alloy or hsla h piles will increase by 1 1 2 cts per pound
another analyst richard cohen at brown baldwin nisker ltd noted that a lot of foreign investors are holding us dollars
the companys total production costs including depreciation but before interest and corporate expense should be below 50 cts a pound by late 1989 or 1990 he said
gold futures retreated from modest early gains and closed steady while silver prices rallied on the commodity exchange in new york
in its report on us export markets for us grain the department noted senegal had bought 100000 tonnes of wheat under the export enhancement program last november but local opposition from millers accustomed to french wheat has been delaying deliveries
a us embassy report on saudi arabia published just before the budget said while industrialisation has continued to be one of the governments highest priorities the recession the payments problem and the lack of financing have reduced saudi and foreign investor interest in industry it is the lack of fresh investment that is expected to be a major issue among the businessmen gathered here
shr loss 10 cts vs loss 19 cts net loss 1348000 vs loss 2410000 revs 112 mln vs 223 mln acg shrs 138 mln vs 129 mln
year on year m1 rose 986 pct in december
analysts said the prime rate rises may have been triggered partly by a desire by banks to enhance profit margins given problems with developing country loans
the ministrys parliamentary state secretary ludolf georg von wartenberg told a business conference german exports could start rising again in real terms during 1987 reversing the lower export trend which emerged in mid 1986
uk domestic wheat markets dropped about one stg per tonne early this morning following overnight news that the ec is releasing a further 300000 tonnes of wheat from british intervention stores for the home market over a three month period
each 1000 dlr bond has ten warrants attached which are exercisable into k o p free shares at 50 finnish markka per share
he said it received an order for one set from aluminium bahrain bsc last year and expects further orders from the bahrain smelter
strenger noted that the industry had lost public confidence following several cases of chemical pollution of the rhine late last year
it is very far from certain that it will go through sir roy denman head of the ec delegation in washington told reporters before he addressed the foreign trade association
the debentures have an 8 1 2 pct coupon and were priced at 99 to yield 147 basis points more than comparable treasuries
on the other hand major long term investors such as japanese insurance companies are not very enthusiastic about buying british securities ahead of the march 31 close of the japanese financial year traders said
gabelli said he fears that greenmail might be a motivation in the offer
under the new system producers and refiners will be allowed to negotiate volumes of shut in oil to be delivered under purchase contracts
there was a general will to reinforce the european monetary system with all that implies belgian finance minister mark eyskens said yesterday after hosting a one day session of informal talks at this belgian coastal resort
while consumer and producer member nations disagree how a buffer stock should be implemented both sides reiterated they were willing to compromise to come to agreement they said
in the year ago period the company earned 534 mln dlrs or 365 dlrs a share on sales of 4028 mln dlrs
ohio mattress omt to sell convertible debt
sucralose is essentially not metabollized by the body
trade sources said the lmes new contract will conform with existing industry practice where 9970 standard re melt material priced in dollars is most commonly traded
martin lawrence limited editions mlle year net
were still closing our books on the first quarter so i dont have final numbers for you he said
the cpi which oversees government spending said in its latest report to parliament that foreign currency reserves fell to a record low of 4079 mln kyats in september 1986 from 4303 mln in march 1986
champion products inc said the two for one stock split it declared february 26 will be payable april 24 to shareholders of record april one
it should be taking the average of the gulf price and the price in kansas city which would more closely reflect the lower prices in the interior midwest
the company said its warrant dividend plan is designed to protect its shareholders against unsolicted coercive attempts to aquire control without making an adequate offer for all shares
the outside is old but the inside is ultra modern with robots and computers securities analysts at major securities houses agreed that mhi has pared costs more quickly than its competitors
conrac cax soars following mark iv iv bid
it also cited southdowns repurchase of 28 pct of its common stock and the financing of that transaction by debt
shr profit 14 cts vs profit one ct net profit 502251 vs profit 22012 sales 4715846 vs 3731900 avg shrs 3489342 vs 3288720 nine mths shr profit 19 cts vs loss 20 cts net profit 637305 vs loss 658398 sales 122 mln vs 9806301 avg shrs 3439065 vs 3288720 backlog 1726150 vs 739540
shr 24 cts vs 26 cts net 15 mln vs 13 mln revs 405 mln vs 335 mln year shr 80 cts vs 82 cts net 49 mln vs 41 mln revs 1430 mln vs 1211 mln avg shrs 61 mln vs 50 mln
cable and wireless holds a 20 pct share in a second potential kdd rival ltinternational digital communications planning inc along with c itoh and co merrill lynch and co inc mer and pacific telesis international inc pac both of the us hold three and 10 pct shares respectively
fortune forf to acquire marine savings
1986 and 1985 4th qtr per share amounts are reported after paying 7292000 dlrs and 9333000 dlrs respectively for preferred stock dividends
busy beaver building centers is a pittsburgh pa lumber and building materials company
anything longer than 10 years is still being sold off seriously as is just about any paper in the banking sector one frn market source at a leading us house said
net includes gains on sale of securities pretax of 1860213 dlrs vs 392975 dlrs in quarter 5023401 dlrs vs 3223008 dlrs in year
viacom said national amusements arsenal holdings inc subsidiary has raised the amount of cash it is offering for each viacom share by 75 cts to 4275 dlrs while the value of the fraction of a share of exchangeable arsenal holdings preferred to be included was raised 25 cts to 775 dlrs
included in the two mln units to be offered are 280000 shares of common stock to be sold by waverly oil co a selling shareholder of wainoco it said
1985 4th qtr net included writedowns of oil and gas properties
cts corp cts 3rd qtr oper net
uic is likely to take a controlling stake in the troubled international coffee trading firm but plans are not finalised and negotiations will continue for another two weeks he said
it also reported a clash between iraqi naval units and several iranian boats carrying men to attack an iraqi oil terminal at the northen tip of the gulf
it is difficult to tell in what form the 0 92 provision will emerge from the committee the sources said
currently 22 foreign brokers are allowed to bid
and i think theyve always found that our corn was good he said
it said after the acquisition it will infuse perconal computer with cash for expansion
pravda said 42 mln roubles worth of defective goods were rejected in the nine month period
uk money market given late help of 240 mln stg
yeutter sees us japan verging on trade conflict
bonn intends to keep leaded premium petrol pumps diplomats said
china daily says vermin eat 7 12 pct grain stocks
us bill auction rates average 563 559 pct
coastal spokesman jim bailey confirmed the company which is an unsecured creditor of transamerican would present its own reorganisation plan to the bankruptcy court
the four member mission is expected to stay two to three weeks
st
qtly div 35 cts vs 35 cts previously pay april 17 record march 31
qtly div 54 cts vs 54 cts prior pay may one record april 10
he said arvin will complete the purchase of systems research laboratories in the second quarter of 1987
the planes dealt accurate and effective blows to the targets and returned safely to base
schlesinger said the problem of rapid money supply growth was longer term in that the economy was building up the potential for a possible eventual resurgence of inflation
eurosterling the market sector which aside from the frns has been in the headlines lately was quiet today ahead of the uk government budget due to be announced tomorrow
period ended may 31
bank of france to hold money market tender today
currently the united states requires a 35 cent per gallon tariff on orange juice imports vastagh said
we expect to start up the first platform then silas said
industry sources said the plan presented to narjes by the ec steelmakers lobby group eurofer would retain the quota production system at least until the end of 1990
diplomats said estimates put the 1985 harvest at less than one mln tonnes slightly up on 800000 in 1984
redemption will be in three equal tranches after 12 years
bundesbank leaves credit policies unchanged
officials said sri lankas budget deficit this year is expected to surpass the projected 287 billion rupees while defence spending already up by two billion rupees from a targetted 10 billion is also likely grow
krieger said the networks wage proposals were disappointing but not the main issue
gold holdings at end february totalled 35203 billion lire unchanged on january
the reserve bank said it will offer 80 mln nz dlrs of treasury bills at its regular weekly tender tomorrow
stone container said the convertible debentures redemption price is 106750 dlrs plus accrued interest of 3281 dlrs for a total of 110031 dlrs for each 1000 dlrs prinicipal amount of the debentures
debenture holders can convert the securities into the companys common stock at 12976 dlrs per share until the close of business on april 17 patten said
these moves are in line with its long term strategy to put more emphasis on overseas investment management as opportunities at home are declining while the companys assets are growing
this reduced interest income by 15 mln dlrs
work at chittagong port halted by strike
costa rica is insisting escalante said on a new quota system based on a producing nations real export capacity once it has satisfied internal demand
the newsletter said the iraqi letter indicated baghdad was having difficulty selling crude at official prices
the japan find said tne deal is subject to obtaining satisfactory financing and a due diligence review
net profit 2529000 vs loss 1066000 revs 590 mln vs 526 mln year net profit 154 mln vs profit 865000 revs 2470 mln vs 2311 mln note company became wholly owned and operated by donald trump in may 1986 when he acquired 50 pct interest that had been owned by former operator holiday corp hia
the company said the exercise of all options and warrants by autospa would result in a tital investment of 50 to 55 mln dlrs
it said australia had a current external deficit of 5 3 4 pct of gross domestic product high and rapidly rising external debt equal to 30 pct of gdp growing servicing costs and inflation above nine pct far higher than that of other oecd countries
an allegis spokesman said the offerings have been in planning stages for a long time and are unrelated to recent corporate developments such as the firms recapitalization plan and a threatened takeover by an investor group lead by coniston partners and the pilots of its united airlines unit
vieille montagne reports loss dividend nil
ixl holdings would proceed to acquire the rest compulsorily he said
shr 227 dlrs vs 74 cts net 4945989 vs 1612624 revs 282 mln vs 279 mln six mths shr 157 dlrs vs three cts net 3417659 vs 73614 revs 470 mln vs 468 mln note current periods include pretax gain of 43 mln dlrs from sale of leasehold of glen oaks store in queens ny and gain of 19 mln dlrs from benefit of tax loss carryforwards
dividend 100 francs per registered share vs 80 francs and 10 francs per participation certificate vs eight
but no compensation is contemplated at the moment he added
answering questions from the national newspaper association baker said brazil is not defaulting on its debt and pointed out its interest payments moratorium was called because of dwindling foreign reserves
bp scottish refinery set to restart this week
without supplying specific figures barnes told shareholders at its annual meeting it expected net income to improve at a rate exceeding its growth in sales which was two pct higher than 1985
1986 qtr and nine mths includes gain 2281000 dlrs or 22 cts per share and 6393000 dlrs or 60 cts per share respectively from utilization of net operating loss carryforwards
it is also seeking to extend 12 mln dlrs of mortgage payments due this year and is in talks to extend other debt payments
continental health affiliates inc cthl 4th qtr
such a price development is not expected to cause any marked competitive problems for the metal because of the likely rise in commodity prices as a whole and cost pressures in the pipeline for steel and copper
qtly div 11 cts vs 11 cts prior pay april 17 record march 20
the bank was also studying philippine proposals for loans to finance geothermal and education projects sources said
they said the documents required by the world bank were not submitted by manila until late february
the daily average was a record 7020 lots up four pct from the previous record set in march 1985
washington said the operation was aimed at destroying positions used by iran to track and assault neutral gulf shipping
we simply regard progressive enterprises shares to be worth approximately twice as much as rainbow shares and do not think the merger as proposed is soundly based bil chief executive paul collins said in an interview in the weekly national business review newspaper published today
shr 22 cts vs 50 cts net 12 mln vs 22 mln sales 417 mln vs 383 mln note bii enterprises inc
usx x proved oil gas reserves fall in 1986
major increases for west germany venezuela the netherlands and saudi arabia were partially offset by reductions for unknown destinations usda said
synthetic industries offers debentures
indonesia is a major palm oil producer
the agricultural policies of the european community and of the united states have caused our economies incalculable harm by closing their markets by price deterioration in international commerce and furthermore by the unfair competition in third countries brazils trade and industry minister jose hugo castelo branco told the october geplacea meeting
shr 12 cts vs 10 cts net 1600000 vs 1314000 revs 176 mln vs 122 mln nine mths shr 58 cts vs 43 cts net 7624000 vs 5336000 revs 568 mln vs 401 mln
shell canada and norcen energy resources ltd forecast improved 1987 earnings in their annual reports issued this week assuming oil prices remain at or above 1986 levels
to refinance the redemptions system energy said it would ask the sec for approval to issue up to 300 mln dlrs of new first mortgage bonds
egypt said to cancel pl480 soft wheat tender
he has set a goal of 73 mln dlrs in internal savings and we need to get at least 20 mln dlrs of that savings in 1987 blackburn said
bankers trust bt files 400 mln dlr offering
alaska air group inc said it will offer 18 mln shares of common stock at 25875 dlrs per share
south korea has increased its duty on crude oil imports to 429 dlrs a barrel from 329 dlrs effective today the energy ministry said
mobil australia reports 386 mln dlr 1986 loss
it said funds will be used to help finance growth
the stock split also is payable june 12 to holders of record may 22
hudson valley patrol agrees to buy guard firm
the diw institute said monetary policy should not be focused simply on growth of production potential
treasury balances at the federal reserve rose on march 6 to 3879 billion dlrs from 3467 billion dlrs the previous business day the treasury said in its latest budget statement
analysts said transcanadas bid signals domes debtholders that an alternative exists to domes debt plan
hf ahmanson and co ahm qtly dividend
other factories are continuing to process beet normally but harvesting remains very difficult in most areas
gaf corp set on acquiring borg warner corps valuable plastics business is believed by analysts to be preparing an increased offer for the chicago based company
wickes cos inc 4th qtr shr loss two cts vs profit 14 cts
shr loss two cts vs loss two cts net loss 183597 vs loss 136990 rev 36600 vs 61763 avg shares 12355000 vs 9205000 year shr loss five cts vs loss five cts net loss 571336 vs loss 416595 rev 103327 vs 61763 avg shares 12355000 vs 8705000 note companys full name is teletrak advanced technology systems inc and it is a unit of helm resources lth 1985 net loss includes loss from discontinued operations of 278156 dlrs
i think it is highly unlikely that american express is going to sell shearson said perrin long of lipper analytical
in connection with the conversion unicorp will contribute 150 mln dlrs in cash to lincoln
psa said this is the third of four unions agreement is needed with for usairs acquisition to be consummated
cocaine although illegal is bolivias largest export
allegheny ai sued over proposed buyout
pope and talbot pop sees higher 1st qtr net
results restated for discontinued operations
the issue will be underwritten by morgan grenfell australia ltd and mccaughan dyson ltd apart from the shares to be taken up by adsteams associate and largest shareholder department store retailer david jones ltd new shares will not rank for the interim dividend but will rank equally thereafter
the 463354 tonnes output last year compared with a peak 1975 output of 700000 tonnes
citizens first bancorp inc cfb raises dividend
they have done it to some extent they need to do it more lawson said adding it was up to the banks themselves to determine the appropriate size of provisions
yeutter says us japan trade difficulties remain
i think there is no question that the private banks are aware of the views of the us government i am confident they will take those views into account when they make their own decisions bosworth said
esselte said the antonson unit based in laporte indiana manufactures scales and label printers
china taiwan trade via hong kong fell in 1986
the 24 nations of the organisation for economic cooperation and development oecd hampered by sluggish industrial output and trade face slower economic growth and their joint balance of payments will swing into deficit in 1987 the economist intelligence unit eiu said
medar mdxr acquires owens illinois oi unit
computer terminal systems cpml completes sale
brazil had not asked for any argentine maize they said
the figures showed exports were 385 billion marks in january sharply down from decembers 440 billion and the lowest since the 356 billion exported to the us in july 1984
kyushu electric power co inc will issue a seven year 20 billion euroyen bond on april 22 a company spokesman said
in a filing with the securities and exchange commission the group said it sold 302833 cenergy common shares to snyder oil partners lp soi on march 14 for 2725500 dlrs and gave snyder another 605667 shares in exchange for 524135 units of limited partnership interests in snyder
dry spell in philippines damages agriculture crops
m 1 a which is m 1 plus daily interest chequable and non personal deposits rose 556 mln dlrs to 7519 billion dlrs and m 2 which is m 1 a plus other notice and personal fixed term deposit rose 651 mln dlrs to 17687 billion dlrss m 3 which is non personal fixed term deposits and foreign currency deposits of residents booked at chartered banks in canada rose 992 mln dlrs to 21603 billion dlrs
pat roberts r kan predicted the reagan administration within the next ten days to two weeks will offer subsidized wheat to the soviet union under the export enhancement program eep
the plan also contemplates establishing a restructured loan providing for one master credit agreement having an aggregate balance of 224 mln dlrs
ivaco inc said price pressure on steel products particularly in the us and the recent increase in the value of the canadian dollar is expected to result in minimal first quarter earnings
mcdermott mdr says stake violates law
boeing co to acquire argosystems for 37 dlrs a share
partly offsetting these outflows exchequer transactions and bankers balances above target will add some 380 mln stg and 35 mln stg to the system respectively
it said it anticipates the results of the audit will be available in mid to late april 1987
reconstitution is the term used to describe reassembling a treasury security into a book entry security after it has been separated into its principal and interest components
the company also said lynch corp lgl has renewed its offer for becor which was withdrawn last week
union enterprises ltd said its agreement to sell its interest in canbra foods ltd to macluan capital corp has been terminated
hawaiian electric he to buy hawaiian insurance
pittway corp pry 4th qtr net
kansas oilman nicholas powell told the securities and exchange commission he has acquired 195000 shares of qed exploration inc or 87 pct of the total outstanding common stock
measured as an annual average rate inflation in february was 111 pct compared with 114 pct in january
qtly cash distribution five cts vs five cts prior pay april 15 record march 31
alcan ups aluminium ingot and billet prices
s p downgrades six us money center banks
brazil has adopted a tough stance with banks on external debt negotiations and is likely to be just as tough on coffee they said
at the public offering price of 3050 dlrs a share occidental said the total value of the offering was nearly 116 billion dlrs making it the largest underwritten common equity offering by a us natural resource company
dexleigh corp six mths dec 31 net
sna said suralcos alumina exports dropped to 23869 tonnes in february from 92852 tonnes in january
reph acquisition to negotiate pesch merger bid
it would seek longer repayment deadlines and lower interest rates
domestically the economy may get a boost from some loosening of the governments tight fiscal policy said haruo muto manager of national economics at the bank of tokyo ltd
the company said the stock dividend will be paid only to holders of commons tock who do not exchange for class b stock in vishays current exchange offer which expires march 25
talking will not stop the dollars slide for long and the february meeting of finance ministers of the group of five and canada produced scant promise of either a decisive shift to more expansive policies in west germany and japan or a tighter us fsical policy it said
equipment co of america ecoa 4th qtr net
it earlier reported strikes at 0650 gmt and at 1930 gmt last night
kings road entertainment kren 3rd qtr loss
ef hutton and co inc and ubs securities inc co managed the deal
dan stevens manager of public and government affairs at texaco inc tx operator of the pipeline through its subsidiary texaco pipeline co said the company hopes repairs will begin in about five days and expects it to take several more days to complete
e systems inc esy sets quarterly
some loans that were entered into did not have the full backing of the peoples republic of china he said
but gm said february sales showed improvement over january adding that it expects improvement in coming months
it said it is shifting its focus away from the development of communities requiring significant equity and having lengthy projected life cycles
it said 600000 dlrs of the loan will cover the foreign exchange costs of consultancy services equipment and training abroad for technical and financial personnel
shr loss 28 cts vs loss 29 cts net loss 584100 vs loss 459500 sales 1339800 vs 16390800 year shr loss 64 cts vs loss 79 cts net loss 1314700 vs loss 1237100 sales 7249600 vs 6311500
the bill would make obligatory the declaration of major stakes in companies quoted on the bourse with own resources of more than 200 mln francs
the tender offer would likely heighten financial risk and increase leverage for gencorp s and p said
using the futures market allows better planning and forward price fixing that our industry needs chairman pat elmer said
np energy npeeq says trustee appointed
cooper basin producers are committed to a two year scheme to double gas exploration while santos said its 1987 budget for oil exploration had been boosted 20 pct
but mexico failed to qualify for the first two drawings totalling 451 mln dlrs and gurria said today we expect well never have to use it gurria said mexico will know by june whether it can draw on the second contingency facility included in the bank financing package a 500 mln dlr growth co financing loan with the world bank
state owned aerospace group aerospatiale said it will make an issue of euro commercial paper next month backed by a 400 mln dlr seven year revolving credit facility granted by 44 banks in december 1986
kodak ek buys stake in biotechnology company
once established more problems are expected if extra competition shaves margins
a study of salmonella poisoning has uncovered new evidence that the common practice of feeding antibiotics to cattle is helping to create deadly bacteria that can infect humans and resist medicines
hongkong electric shareholders will receive one share in cavendish for every hongkong electric share
viermetz said he believed major nations in paris wanted to see the dollar hold within a loose range of 175 to 190 marks and 145 to 155 yen with any attempt to push the us currency lower being countered by central bank intervention
also suggested was a deal involving put and call option regarding sosnoffs caesars world holdings he said
s and p said the parent company would generate sufficient cash flow over the next several years to fund the stock buyback program without weakening its financial position
oper shr loss two cts vs loss 13 cts oper net loss 236000 vs loss 1131000 revs 266 mln vs 263 mln year oper shr profit two cts vs loss 15 cts oper net profit 286000 vs loss 1292000 revs 1053 mln vs 953 mln note net excludes discontinued operations gain 20000 dlrs vs loss 1291000 dlrs in quarter and gain 60000 dlrs vs loss 1590000 dlrs in year
american variety acquisition pact terminated
hj heinz co 3rd qtr shr 55 cts vs 46 cts
the parent banks 1986 partial operating profit which excludes earnings from trading on its own account had climbed two pct to 671 mln marks
shr 11 cts vs nine cts net 105489 vs 88929 revs 2306697 vs 2066636 nine mths shr 17 cts vs 14 cts net 167960 vs 136856 revs 6714468 vs 6026343 note 1987 qtr and nine mths includes tax gain 64200 dlrs and 102200 dlrs respectively
the company said the restatement does not indicate any change in its thinking on the benefits of the acquisition or future prospects in midwest distributings markets
uk average earnings rose 65 pct in year to april underlying rise 775 pct official
main ec destinations were italy with two mln tonnes versus 19 mln belgium 500000 tonnes one mln netherlands 500000 600000 west germany 500000 800000 spain 300000 zero britain 300000 700000 greece 200000 300000 and ireland 100000 200000 in flour exports totalled 980000 tonnes up 65 pct on a previous 920000 tonnes
shr 131 dlrs vs 103 dlrs net 123 mln vs 95 mln revs 831 mln vs 764 mln avg shrs 94 mln vs 91 mln 12 mths shr 438 dlrs vs 368 dlrs net 409 mln vs 331 mln revs 314 billion vs 277 billion avg shrs 93 mln vs 90 mln
it said its position of cash and marketable securities increased to 463 mln dlrs at year end 1986 from 99 mln dlrs a year earlier
it was arranged under a bilateral treaty to avoid double taxation it said
i dont think were at that point yet said one trade official adding that the ec has only begun deliberations on its farm price package
oil world presumed some imports were not used immediately but went into stocks
canada trade rise seen as start of recovery
its working out very well and i think well get a clear majority nogales said
prices have fallen steadily since the international coffee organization failed in february to reach an agreement controlling exports by its members and pressure was renewed this week as the executive board of the organization met in london without reopening debate on its export quotas
the dudley taft group theta corp which also includes narragansett capital corp a providence ri investment firm is seeking to take the company private in a leveraged buyout valued at 138 billion dlrs
honeywell bull sees revenue growth
usair could feed the intenrational flights of twa which has a midwest presence in its st
at end february they were 521 billion dlrs the worlds third largest after west germany and japan
o licht
the commission said the industry would probably be unable to hold prices at current levels and that any increase would result in loss of sales and jobs
spains most closely watched measure of money supply liquid assets in public hands grew at an annualised rate of 17 pct in march against 114 pct in december last year and a target range of 65 to 95 pct for 1987
division seen on how to help us oil industry
immediately available financial information on stauffer which is wholly owned was limited he added
eia says distillate gas stocks off in week
the dollar closed in tokyo today at 17730 35 marks and 14135 yen
lynch corp said it will offer 1050 dlrs a share in cash 450 dlrs in subordinated debentures and a 1 4 share in a new company for each becor western inc share outstanding
the companies said the property has several gold bearing veins and has considerable exploration potential
cullen frost cfbi to omit dividend
the new china news agency said an agreement to resume the business was signed by the two sides on wednesday in shanghai where three soviet commercial vessels were being repaired
the administration sugar proposal is expected to be introduced in the house of representatives next week by rep
a special taiwanese trade delegation leaves for washington tomorrow to try to renegotiate an agreement signed last year limiting exports of taiwan textiles
the value of the distribution assumes yesterdays closing price of uals common stock of 5650 dlrs per share
the new price for light sweet crude oil is 2560 canadian dlrs a barrel while the new price for light sweet sour crude is 2408 canadian dlrs a barrel
the bank of england said it provided the market with 478 mln stg of early assistance to help ease a liquidity shortage it estimated at 110 billion stg
but they added washington set the stakes high by testing the limits of the louvre accord while global stock markets were plunging
south korea to pay more for japanese ethylene
a group led by first boston corp will underwrite the offering the company said
bank of france return apr 9 week end apr 2 in mln francs gold reserves 218316 unch convertible currency reserves 119518 116728 ecus 62008 62020 special operations advances to exchanges stabilisation fund nil nil special drawing rights 6866 unch notes in circulation 209260 207517 foreign liabilities 3101 3082
the officer said he believed the rockwell paper would sell quickly mostly because the company is well known and has not tapped the debt market in three years
the federal reserves move to easier monetary policy begun with four quick half point discount rate cuts in 1986 will likely end with a final rate drop in the second quarter analysts said
echlin has agreed to limits on buying additional champion shares and its ability to seek control of champion during the next seven years champion said
long delays at the railway crossing on the kenyan border have led uganda to re route its coffee exports through a ferry link with the kenyan port of kisumu across lake victoria ugandan officials based in kenya said
portuguese grain agency ban opposed by minister
white house spokesman marlin fitzwater told reporters the tariffs up from five pct should be seen as a serious signal to other nations on the need for fair trade practices
cyclops corp said that as it has already stated its agreements with dixons group plc are binding and dixons will not rescind or waive any provisions of the agreements
cheap corn is still the main incentive for putting cattle on feed according to smith barney livestock analyst tom ohare
it reported that pretax profits in the year rose to 3546 mln stg from 2184 mln previously on turnover higher at 3133 mln after 2522 mln
total gold and foreign assets rose to 630 billion rand from 622 billion of which the gold content increased to 6622 pct from 643 pct
vertex industries inc and computer transceiver systems inc jointly announced an agreement for vertex to acquire a 60 pct interest in computer after it completes a proposed reorganization
petromin has offered to lower this rate to 90 pct from the 95 pct for contracts with japanese customers from next january the trade sources said
the company also said its board determined the previously postponed annual meeting will be held on january five
wainoco oil wol recapitalizing company
el salvador seeking pl 480 soymeal corn
but he said the quarter was going well and the rise in copper prices in the last month will help results
the company also said it will no longer actively seek out potential merger partners but will respond to serious inquiries
the forecast for soybean yield this season was the least changed in relation to last week
the american ships the british ships the french ships now talk to each other and all weve got to do is formalize this arrangement warner said
he has said since in speeches and at news conferences that any plan he would back to spur lagging domestic oil production would have to meet three criteria increase production not cause economic dislocation and be low cost to the taxpayer
gross investment in industry was expected to grow by five pct this year a slowdown compared with 115 pct growth last year the cpb said
a statement said foreign trade minister rino formica has signed a measure lifting currency regulations that currently impose a 400000 lire limit on the value of lira bank notes that can be brought into italy
it gave no 1986 figures for comparison
wall street sources have said the outcome of the case could be pivotal in determining the winner in the fierce takeover battle for burlington the largest us textile maker
chicago pacific cpac sells convertible debt
they also said salomon believes that other banks may strongly consider the possibility of placing brazilian loans on a non accruing status with the consequent negative impact on earnings
after stifling pressure for a rate cut last week the authorities finally sanctioned a base rate reduction on monday following it up with the announcement of the one billion stg bond issue
it will be back on the table again and again the diplomat said
he did say though that micron publicized the invoice documenting the sales on the same day they were made and that oki was unable to locate the person who had bought the chips when it tried to buy them back last week
and unequivocally all gcc states we have talked with have said that would not be in the interests of the arabian peninsula
while there are no specific pork items in that legislation feed grain prices directly affect pork producer profits the nppc said
union texas said it received an average of 1335 dlrs per barrel for its international oil production and 299 dlrs per mcf for its foreign natural gas sales
bouldikian said recent government measures had succeeded in reducing demand for imports and increasing exports
the effective rate for arms was 839 pct 15 basis points below a month earlier
foreign exchange traders and bank treasurers said these issues and the slide of the lebanese pound can be expected to be major talking points
komatsu ltd komtt year 1986
the ship was originally loaded with 10000 tonnes of animal feed
he added that some of the discussions with other parties about dome included transcanada pipelines ltd trp but refused to name the other participants
it did not elaborate
robertson ups capital wire cwcc stake to 12 pct
rjr nabisco inc said its 1987 first quarter results will include an after tax gain of 208 mln dlrs from the sale of heublein inc and offsetting charges
morgan guaranty ltd said it has been added to the group of dealers for the euro commercial paper program for basf corp that was launched last year
output had slumped to under 450000 tonnes a year from 900000 in the late 1970s
were in a fairly wet pattern with normal to above normal moisture this week mohler said rainfall averaged 1 2 inch across southern minnesota 3 4 inch over southwest iowa one inch in eastern nebraska and 1 1 2 inches in south central nebraska
what there is are bags of sawdust
the non callable issue is available in denominations of one mln yen and will be listed in luxembourg
chemlawn corp chem could attract a higher bid than the 27 dlrs per share offered by waste management inc wnx wall street arbitrageurs said
it would slow growth in germany and japan which would adversely affect our trade balance and ultimately it would drive interest rates up here which would throw us if not into recession into slower growth he said
the government sources said the amount covering the first 50 days of the year starting april 1 accounts for more than 90 pct of the 16000 billion yen in bills incorporated in the full budget
robert halmi inc said it and hal roach studios inc signed a definitive agreement to merge in a stock swap value at 115 mln dlrs based on october 16 closing prices
net includes tax credits of 9450000 dlrs vs 119 mln dlrs
us delegation hopes for veg oils tax defeat
bond international said in the document that except for the 240 mln dlr loan the deal would be financed from internal resources and by selling an interest in the building
he said the damage was probably more limited in southern and central regions and most widespread in the north
amr corps american airlines unit said it plans to complete the integration of aircal into its operations within four to five months
soybeans in mln bushels stocks aug 31 1987 projected at 610 vs 635 last month
the company said the groups review is preliminary and there is no assurance that an acquisition proposal will be made or if made accepted
eni owns 48 pct of the joint venture company super octanos ca while pequiven has 49 pct with the remaining three pct to be sold to private investors
time inc said its time life video inc subsidiary has agreed in principle to sell its institutional training business to time life video president william v
farm credit system requests us credit line
in bangkok thai industry minister pramual sabhavasu said thailand would keep to its 19000 tonne quota and added this would not cause the local industry hardship at current prices
taiwans trade surplus widened to 418 billion us dlrs in the first quarter of 1987 from 305 billion a year ago the government statistics department said
the successful negotiation of the new agreement represents a significant step forward in international economic cooperation he told a news conference
advanced systems inc asy 2nd qtr april 30 net
philip crosby jr executive vice president said normal accounting adjustments as well as a review of the companys international operations due to a previously reported alleged embezzlement resulted in the lower results
and as west germany last year refused to give in pressure from several ec partners and the united states to cut interest rates to slow the marks rise the ems had to be realigned twice to ease financial and trade strains within the community
copper shipments are likely to be delayed because of power problems at philippine associated smelting and refining corp pasar the countrys only smelter a company official said
the order was issued as part of a settlement of ftc charges that coopers merger with gardner denver co would lessen competion and increase concentration in the gas compressor and industrial air tool industries the ftc said
india tendered for one or two cargoes of white sugar
national distillers paid 570 mln dlrs cash for enron and assumed 34 mln dlrs in debt
they said if spot prices move higher there will be no problem finding opec crude to purchase at the official prices
market participation by cuba suggests that its crop could be close to last years 73 mln tonnes
stocks on sept 30 1986 at 947 vs 947 last month
these are currently frozen by an effective moratorium on repayments
giant bay said if its bioleaching technology is used for ore processing it will have the right to acquire a working interest in the property
ccr video cccro gets offer on takeover talks
magellan sets merger with balzac investments
first mercantile currency fund inc 1st qtr net
prime minister yasuhiro nakasone said the dollars sharp fall against the yen overnight was only temporary
finally reliance group holdings inc acquired nearly six pct of tre according to an seec filing
the white house reacting said it did not favor amending the tax code but would look at the proposal
while the measure does not bind reagan to any action senate leaders said its adoption would warn japan stiffer legislation would be considered if the violations continue
my only response is that we have gone through about five years with the dollar going in just the opposite direction
i am encouraged by the continuing improvement in earnings danworth said
the company named kidder peabody and co inc as underwriter of the offering
countertrade accounted for just five pct of indias 2565 billion dlrs in trade during fiscal 1985 86 ended march against almost nothing in 1984 85 official figures show
jones and vining said a management effort to take the company private will go ahead at 450 dlrs per share
underwriters may include salomon brothers inc and goldman sachs and co
but infrastructure projects take much longer and involve much bigger investments and with them the ideal way is to use soft loans he said
the preferred class a stock closed at 500 dlrs
peoples savings bank pebwo 3rd qtr net
shr 113 dlrs vs 87 cts net 5010000 vs 3868000 nine mths shr 491 dlrs vs 484 dlrs net 218 mln vs 215 mln note current quarter figures include gain of 47 mln dlrs on property sales vs gain of 29 mln in prior years quarter
it said proceeds from the offering will be used for general corporate purposes and to repay borrowings under the companys bank credit line
a spokesman at first chicago corp fnb said it is premature to put brazils loans on a cash basis
jardine matheson replaces b share by bonus issue
clausen said despite improvement in the past quarter bankamerica must do more to improve its capital ratios
chinese customs figures showed grain imports of 959 mln tonnes in the first eight months of 1987 compared with 609 mln in the same 1986 period
banking sources said syndication for the increase was proceeding very well so far although the syndication would not necessarily be confined to banks participating in the original group
the communist party newspaper said sugar sales had increased by one mln tonnes a year enough to be turned into two billion bottles of moonshine
uk money market shortage forecast revised up
interest rates on conventional mortgages bottomed out at about 908 pct in march and rose to about 107 pct in april according to stephen roach economist at morgan stanley
westport bancorp webato 3rd qtr net
the extra amount this costs the government could wipe out the revenue the tax brings in
a new company lasmo canada inc will be formed
he said that so far no meeting of the seven nation ministerial differentials committee had been scheduled and that such a meeting now twice postponed was not a high priority for opec at the moment
mts acquisition corp said it will need about 907 mln dlrs to acquire the 31781461 caesars world inc shares not owned by its owner martin t
this would be well below the 8130 mln dlrs earned in the first three quarters of 1985 86
correction london citibank launches warrants in london item citibank launches currency warrants please read second paragraph as follows each warrant priced at 4750 dlrs gives the holder the right to purchase a nominal sum of 500 dlrs against marks at 18250 marks to the dollar or at 14950 yen to the dollar between march 31 1987 and march 31 1989 corrects dollar mark exchange rate to 18250 and makes clear that dollar purchase is against marks or yen
if youre going to take the risk inherent in exploration you need prices higher than the current market he added
business calmed down after a hectic start with european operators sidelined because of uncertainty about the short term direction of the dollar dealers said
wtc is engaged in domestic international air freight ocean and surface freight forwarding and consolidation and distribution services
diplomatic and banking sources in kinshasa agreed that a compromise formula could be reached in the coming weeks enabling pro western zaire to obtain a much needed injection of cash
the fed continues to be accommodative in its provision of reserves indicating that there has been no policy shift since the beginning of this year said harold nathan economist at wells fargo bank
we have no knowledge of any major problems in our pacemakers or leads wallin said
in reply to questions poehl also said the half point cut in the discount and lombard rates on january 22 came after the us had signalled it would be prepared to attend a meeting to discuss the level of the dollar on condition germany made such a move in advance the sources said
hurco companies inc hurc first qtr net
the speculation depressed local interest rates and unleashed a flood of new issues
bayou ltd is 552 pct owned by australia wide industries ltd
generale de banque sa genbbr and heller overseas corp of chicago have each taken 50 pct stakes in factoring company sa belgo factors generale de banque said in a statement
deputy us comptoller of the currency robert bench said last week that us bank regulators also had no objection in principle to the pins concept because manila has guaranteed their ready conversion into cash
the belgian governments new 150 billion franc eight pct loan has been priced at par a finance ministry spokesman said
statoil places north sea veslefrikk field orders
overwater said he was optimistic about 1987 prospects but said he would await first quarter results before quantifying growth expectations
mai plc the financial services and advertising group has asked sg warburg and co ltd to arrange a 100 mln dlr multiple option facility which will restructure a part of the companys exisiting banking arrangements banking sources said
for the year ended january 31 winley earned 116000 dlrs pretax on revenues of 117 mln dlrs
the total net capital inflow rose to 1374 billion dlrs in 1986 from 768 billion dlr in 1985
haq who is also planning minister was outlining a new three year trade policy from the start of financial 1987 88 on july 1
crazy eddie said if a party owning 20 pct or more of its stock were to merge into it or if a party were to acquire 40 pct or more of crazy eddie stock right holders other than the acquiring party would be entitled to acquire common shares or other securities or assets with a market value equal to twice the rights exercise price
under terms of the facility leucadia may issue euro notes in maturities from one to six months subject to a maximum of 183 days
us oil demand as measured by products supplied rose 23 pct in the four weeks ended march 13 to 1649 mln barrels per day bpd from 1611 mln in the same period a year ago the energy information administration eia said
more than 200000 were employed in the private sector pravda said without giving comparative figures
west german railway issues domestic stock
it said it will also receive from cardis five year options to buy 2400000 cardis common shares at 625 to seven dlrs each depending on the time of exercise and warrants to purchase about 3200000 shares at 660 to 760 dlrs each
the ecuadorean central bank which is the institution remitting debt payments abroad uses the official rate of 95 sucres to the dollar for its accounting purposes
scholls businesses in the us canada and puerto rico which had sales of about 135 mln dlrs last year
he called for a new lending initiative with a wide menu of options as alternatives to pure new money
four seasons hotels inc and vms realty partners said they agreed to acquire the santa barbara biltmore hotel in california from marriott corp for undisclosed terms
news that underlying earnings are rising 775 pct annually taken together with higher than expected bank lending and money supply growth revived inflation worries and monetarist arguments against easier credit they said
bnl officials said the issue is scheduled for mid march and additional financial details were not immediately available
were talking to a number of people merrill lynch canada deputy chairman e
but he said us ships in the region were on routine maneuvers
west german producer prices fell 01 pct in march compared with february to stand 39 pct lower than in march last year the federal statistics office said
british entry would change the ems from a monopolar system based on the west german mark to a bipolar mark sterling system he noted
the selling concession is 1 1 2 pct while management and underwriting combined pays one pct
he was quoted by pap as saying that poland would meet its financial obligations to the united states but not in a short time and not without a cooperative stand on the part of its foreign economic partners he stressed that the us had a particular opportunity to play a part in the cooperative policy of polands partners interested in the settlement of polish debt putting it more sharply one senior banking official blamed washington for obstructing talks with the world bank imf and paris club of western creditor governments in recent years and said it should now play a more positive role
other western embassies in moscow said they had discontinued laboratory testing of soviet food late last year because no abnormal radiation levels were detected
among the main factors affecting liquidity bills maturing in official hands and treasury bill take up will drain some 107 billion stg while exchequer transactions will take out around 335 mln stg and bankers balances below target five mln stg
effective net yield on the first coupon will be 966 pct
but oil analysts said if opec keeps group output close to its first half 1987 ceiling of 158 mln bpd supply and demand would be balanced by the end of the second quarter
the proceeds will be used to reduce the companys outstanding indebtedness it added
jacobs said he and fellow investor carl pohlad continue to hold a stake in allegheny international inc ag in august they disclosed in a securities and exchange commission filing that they had acquired 854900 shares or 79 pct of allegheny and would consideer seeking control of the company
hoechst celanese sends report on new facilities
the fed faces a need to add a large volume of reserves this statement period to offset a drain caused by rising treasury balances at the fed after the june 15 tax date
k mart corp said its record fiscal 1986 net earnings of 5823 mln dlrs a rise from 2212 mln dlrs a year ago marked a major turning point for the worlds second biggest retailer
dwg corp dwg 3rd qtr jan 31 net
in 1986 gulf states earned 2449 mln dlrs on revenues of 147 billion dlrs compared to profits of 2654 mln dlrs on sales of 185 billion in the previous year
the plants will cost more than 300 mln dlrs
at the same time cftc proposed leaving kcbts wheat speculative position limits unchanged
these creditors hold two thirds of ecuadors foreign debt which totals 816 billion dlrs
gatt experts urged washington to resist protectionism and instead seek macroeconomic changes to reduce the current account payments deficit higher private savings lower investment and a smaller federal budget deficit
earlier this month mannesmann disclosed that it might want a majority stake in sachs after previously saying it was seeking to buy only a minority holding in the company which has annual turnover of 22 billion marks and employs 17000
the company saiud the loss on the sale may be partly reduced by contingent payments over the next five years and will in the first quarter be more than offset by the gain from the previously announced sale of its hygeia sciences inc shares
torchmark tmk authorizes stock repurchase
beneficial had previously announced plans to leave the insurance business
so long as those discussions continue no recommendation will be made to standard oil shareholders regarding the offer standard said
we belive it will be a very serious competitor in the future said idsal
bankers said the diplomatic phrase belied the deep anger and frustration on the committee over brazils unilateral move last friday and its subsequent freeze on some 15 billion dlrs of short term trade and interbank lines
bradford sees armco earning 50 to 75 cts a share in 1987 before special gains from recouped investment tax credits against losses last year
the federal open market committee at its february 10 11 meeting voted nine to one to maintain the then existing degree of reserve restraint minutes showed
there have been suggestions these sowings might respond to the recent upsurge in world prices but czarnikow said it is not the sort of fact that easily becomes known the broker bases its forecasts on licht planting estimates which put w germany the netherlands and ussr lower but hungary romania poland turkey and yugoslavia higher
i think that we still need to be building as much canadian position in this industry as we can and i think it would be best if dome ends up in the hands of canadian management he said he did not know who other possible bidders were
oper shr 45 cts vs 63 cts oper net 3805000 vs 5155000 revs 120 mln vs 106 mln year oper shr 158 dlrs vs 207 dlrs oper net 12991000 vs 15692000 revs 698 mln vs 717 mln avg shrs 8265541 vs 7598522 note current qtr and year figures exclude losses from discontinued operations of 761000 dlrs and 875000 dlrs respectively and disposition gain of 61 mln dlrs in both periods
non callable for two years the issue is rated ba 3 by moodys investors service inc and bb minus by standard and poors corp
the dutch central bank said it has accepted bids totalling 65 billion guilders at tender for new eleven day special advances at 53 pct covering the period march 9 to 20 aimed at relieving money market tightness
nitto boseki launches 60 mln sfr 4 7 8 pct bond
bankamerica bacp raises prime rate to 775 pct
shr loss four cts vs loss seven cts net loss 267000 vs loss 445000 revs 6407000 vs 7428000 note full name is thor energy resources inc
each 50000 franc bond carries 81 warrants entitling the holder to buy 100 nippon signal shares for 594 yen each
shr 63 cts vs 89 cts net 3425216 vs 3370682 avg shrs 5421330 vs 3803425 note net for both qtrs reflects gains on sales of securities of 1755137 or 51 pct of net in 1987 and 3001222 or 89 pct of net in 1986
shr loss nine cts vs profit 11 cts net loss 1102592 vs profit 1364763 revs 2836508 vs 5547121 year shr loss six cts vs profit 32 cts net loss 789300 vs profit 3953822 revs 117 mln vs 211 mln note per share figures reflect five pct stock dividend paid december 1986
qtly div 25 cts vs 25 cts prior pay april 24 record april three note first connecticut small business investment co
lionel corp lio 4th qtr jan 31 oper net
orion royal withdraws from frn market
dealers said the dollar will gain only temporary support to rise above 150 yen toward early april when the group of seven industrial nations meets to discuss currencies again
showa denko exports aluminium casting equipment
no clear evidence trade gap reversed volcker
barber said the group which succesfully fought off a takeover bid by lloyds bank lloyl last year strengthened its capital resources during that year to just over three billion stg while total assets increased to 322 billion
prices for petroleum based energy rose sharply for a second consecutive month during february but by less than in january the department said
backlog 308 mln vs 267 mln at start of fiscal year
the company also said it intends to continue paying its common stock dividend at the current annual rate of 192 dlrs per share
the un said the report was aimed at promoting petroleum exploration in areas perceived as being gas prone
ramada inc is raising 100 mln dlrs through an offering of subordinated notes due 1999 yielding 11703 pct said sole manager salomon brothers inc
there were some price declines including a 34 pct fall for passenger cars and 13 pct for light trucks from january levels
there can be no assurance that hawkeye will be able to meet these requirements
stocks of money center banks were mostly down fractions in late dealings
freedom frdm to recognize gain on unit sale
the lawsuit also alleges that harcourt failed to disclose that one consequence of the payment of the dividend which it terms illegal will be that shareholders will be liable to repay it
esselte business systems incs esselte meto division said it has acquired the antonson america co a subsidiary of antonson machines ab of sweden
petrobras said the saudis will accept banco do brasil credit guarantees
but the itc quarterly session scheduled for april 8 9 will be important as the council will by then be wanting to decide on whether the current pact should be extended beyond june 30 or just allowed to expire delegates said
shr profit 55 cts vs loss 12 cts net profit 3998000 vs loss 915000 sales 938 mln vs 809 mln nine mths shr profit 171 dlrs vs profit 95 cts net profit 12641000 vs profit 7282000 sales 2609 mln vs 249 mln note 1986 figures include a five mln dlr or 65 cts a share charge for electronics restructuring and 17 mln dlr charge from early retirement of 12 mln dlrs in long term notes
shr 1458p vs 786p div 65p making 975p an increase of 194 pct pretax profit 832 mln stg vs 315 mln net after tax 686 mln stg vs 377 mln pretax profit 832 mln stg vs 315 mln consists of long term business 459 mln stg vs 438 mln us long term business 62 mln vs 89 mln fund management 47 mln vs 65 mln short term business 47 mln vs loss 290 mln associate companies 09 mln vs 08 mln shareholders other income and outgoings 04 mln debit vs 05 mln credit exceptional long term business profit 214 mln vs nil
the bank of finland issued for the first time a small amount of its own certificates of deposit following its decision last friday to enter the interbank market by buying and selling cds a central bank official said
shr 23 cts vs 17 cts net 1742000 vs 11512000 sales 626 mln vs 536 mln avg shrs 7854000 vs 6617000 year shr 61 cts vs 61 cts net 4469000 vs 4039000 sales 2098 mln vs 1754 mln avg shrs 78369000 vs 6610000
rostenkowski insisted the more moderate approach was necessary if the house wanted to pass a bill reagan would sign into law
the bank said the initial distribution would take the form of a stock dividend of cumulative redeemable retractable class a series two preferred shares entitling holders to monthly floating rate dividends at 72 pct of prime and to 1275 dlrs a share on retraction
the two sides in the thursday and friday talks will be headed by deputy us trade representative michael smith and miti vice minister makoto kuroda
the company said the system 30 has the capacity for 10 outside lines
champions board will be expanded to include two or three independent persons suggested by echlin it said
its not going to solve all of first citys problems but its a good transaction for them
renewed confidence in opecs ability to limit production helped us energy futures settle above yesterdays closing prices according to analysts
flowers said it expects fiscal 1988 however to show the best growth in profits in its history due to the growing profitability of ongoing businesses cost control efforts higher productvitiy and lower taxes
the company said manufacturing of mining machinery and tunnelling equipment showed greatly improved results in the us and export markets mainly china and india
but the diplomats said a protectionist lobby in the us and elsewhere was using the proposal as an excuse to promote anti ec action and the foreign ministers debate should demonstrate the strength of feeling against the proposal within the ec and deprive its oponents of this argument
the panama canal commission a us government agency said in its daily operations report that there was a backlog of 41 ships waiting to enter the canal early today
international pagurian corp ltd said it had net profit of 33 mln dlrs or three cts a share for the period august 15 to december 31 1986 based on 552 mln shares outstanding
unemployment should continue to fall slowly as the service sector continues to create jobs
in an article headlined gulf oil sources say middle east production up 14 mln bpd it warned opecs official prices could face fresh pressure from international oil companies seeking cheaper supplies
the acquisitions include sleepeeze ltd in the uk compagnie continentale simmons sa in france and compagnia italiana simmons spa in italy
japanese bank economists polled by said the economys 18 month old slowdown is likely to end in the first half of this year helped by rising exports stepped up government spending and falling prices
zehntel inc zntl offering of 135 mln dlrs of convertible subordinated debentured due 2012 through sutro and co inc
in addition to the strong contribution by k mart stores all our specialty retailing companies had excellent february sales said k mart chairman bernard fauber
ccc accepts export bonus dairy cattle to morocco
however argyll will have the option to raise funds through an issuer set placement under which the underwriters can take up to their available commitment under the standby
they agreed however that further actions will be essential to resist rising protectionist pressures sustain global economic expansion and reduce trade imbalances it welcomed the plans set this week by the japans ruling liberal democratic party to stimulate its economy with what the communique termed extraordinary and urgent measures including an unprecedented front end loading of public works expenditures the meeting of the so called group of seven brought together ministers and central bank governors of the seven major industrial democracies the united states japan west germany france britain italy and canada
chesapeake corp said it has retained salomon inc sb to help it sell plainwell paper co inc a maker of premium coated and uncoated printing papers and technical specialty papers with a capacity of 85000 short tons a year
but the move showed that a real solution to debt problems was only possible with the involvement of all parties
bzw makes markets in japan dollar convertibles
as to us urgings for japan to take steps to boost its domestic demand to reduce its trade surplus japan will explain economic measures to the g 7 the officials said
national is a family business which operates a chain of movie theaters
the louvre and plaza accords show there is a very effective role for the group of seven central banks to operate together towards stabilising exchange rates leigh pemberton said
last week dealers said the federal reserve intervened to stop the dollar rising against the mark which had breached 186 to the dollar
reynolds urged shareholders to be patient saying the group sponsoring the tender offer had months to evaluate gencorp while we have had only 10 days to respond reynolds also disclosed the company has resolved legal challenges to its planned sale of wor tv serving the new york city market and expects to complete the sale by friday
dynamics corp of america said it has reached an agreement with cts corp resolving all differences between the two companies
a senior ivory coast agriculture ministry official confirmed his countrys backing for a new international cocoa pact and said ivorian delegates would be present at talks on its buffer stock starting this week
continental said it may take similar action on its loans to ecuador which total 25 mln dlrs
the prepayments were on a 925 mln dlr nine year loan signed in 1985 which carried a four year grace period
the merger involves shareholders in progressive and rainbow both receiving shares in a new company astral pacific corp ltd on a one for one exchange basis
standard and poors said it may lower its bbb minus rating of clark equipment cos 108 mln dlrs of long term debt because of weak industry fundamentals and the companys plan to repurchase 70 mln dlrs worth of common stock
netback values for the mediterranean region are shown below in dlrs a barrel
shr 19 cts vs 20 cts shr diluted 18 cts vs 18 cts net 578000 vs 554000 sales 107 mln vs 104 mln avg shrs 3006s302 vs 2795820 avg shrs diluted 4271488 vs 4081534
shr 31 cts vs 27 cts net 114 mln vs 9905528 revs 1943 mln vs 1717 mln avg shrs 366 mln vs 364 mln note sixteen week periods
the committee rejected the administrations request for 216 mln dlrs as the us contribution to un peace keeping troops in lebanon
transfer payments narrowed to a 140 mln dlr deficit last month from a 185 mln deficit a year earlier and a 225 mln deficit in january
top discount rate at uk bill tender rises to 87239 pct
the company said it expects to resolve delivery problems this year which last year hindered the growth of its toy distribution business which accounts for about one third of revenues
conger said he sees homestakes 1987 gold production about the same as 1986 gold production of 669594 ounces
for most of the period of communist rule the land was organised into collectives where there was little room for individual initiative
western analysts attributed the deficit rise with the west to the world oil price slump which hit moscows main export and cut hard currency earnings needed for purchases in the west
company is operating under chapter 11
an iowa state university study showed pork contains considerably less fat than indicated by long established us department of agriculture statistics the national pork producers council nppc said
it is based on reports which said kuwait has the ability to exceed its share
norstar bancorp fleet financial group agree to merge
waccamaw had assets of 228 mln dlrs as of march 31
up right inc upri 4th qtr oper net
bahrains commercial banks are currently liquid and have been making little use of the traditional dollar swaps offered by the agency
moodys investors service inc said it may downgrade conseco incs 100 mln dlrs of debt
societe generale issues 15 billion yen bond
imports of decaffeinated unroasted coffee were 396 tonnes against nil a year earlier
in a filing with the securities and exchange commission the group also said it is considering an informal offer made by scandinavia fund president bjorn carlson on march 31 which would grant it representation on the companys board
fractions will be paid in cash
nationair sets 299 dlr flight to brussels
the official estimate is not yet available
proceeds will be used for general corporate purposes including the acquisition of aircraft the company said
sumita said he could not find any specific reasons behind the fall of the dollar to a record low against the yen yesterday
avon products avp to buy giorgio for 185 mln
money market operators were divided over whether the bank of france will use to occasion to cut its intervention rate which has stood at 7 3 4 pct since march 9
the bundesbank confirmed the german trade surplus widened to 1045 billion marks in february from januarys 720 billion
ocean showboat finance corp a unit of showboat inc is raising 180 mln dlrs through an offering of mortgage backed bonds due 2002 with an 11 3 8 pct coupon and par pricing said sole manager donaldson lufkin and jenrette securities corp
omnicom group inc omcm 4th qtr net
etl would bring no synergies to monier unlike csr which is a leader in building materials herbert said
dixons group has tendered for all outstanding cyclops shares at 9025 dlrs a share in cash
he said frequent but light falls in the areas that are short of moisture such as mackay mean they really only need about three days of the regions heavy tropical rains to restore normal moisture to the cane
the company said proceeds would be used for potential future acquisitions
us securities group backs insider restraints
oreilly said heinz will concentrate on backing its big brands new products and services new geography internal growth and acquisitions
venezuela will shortly send creditor banks a term sheet specifying the changes agreed last month in the countrys 203 billion dlr public sector debt rescheduling finance minister manuel azpurua said
the securities were assigned an 8 7 8 pct coupon and par pricing to yield 131 basis points over treasuries
the current year has opened well with trading prospects remaining favourable burmah oil co plc burml said in a statement with its 1986 results
he said the government was also expecting at least three pct growth in gdp this year after several years of negative rates
shr loss 35 cts vs profit 18 cts shr net loss 946300 vs profit 502500 revs 173 mln vs 168 mln
aqazadeh said soviet refined products would be delivered at the caspian sea ports of anzali and nowshahr at neka near the caspian and at jolfa in north west iran
baker international corp treasurer eric mattson said the company hoped to iron out snags in a proposed merger with hughes tool co ht but declined to say if or what compromises might be acceptable to it
the chicago soybean complex has been nervous for some time about large south american crops developing under near ideal conditions towards record yields
rifai dismissed the view of some bankers and economists here that the dinar which is pegged to a basket of currencies is overvalued
the speaker asked all three men about the risks to latin american democracy and the danger that demagogues of either left or right could wrest control and halt debt repayments
first commercial paper issued in turkey
system energy resources inc a unit of middle south utilities inc said it plans to file with the securities and exchange commission a request for authorization to retire a number of outstanding first mortgage bonds
one diplomat said the call for a report showed ministers were determined not to let the japanese question drop
based on the previous january figures issued on february 9 wheat exports increased by nearly 64000 tonnes and barley by about 7000 tonnes
the release of the feed wheat followed recent strong representations by the uk grain trade to the commission
the restructuring touched off a flurry of friendly and hostile takeover attempts
they said seamen on the vessel were being forced to work under duress
t rowe price trow sees higher first quarter
qtrly div 30 cts vs 30 cts prior pay april 30 record april 3
associates corp of north america is issuing a 15 billion yen eurobond due november 2 1992 with a five pct coupon and priced at 102 3 8 ibj international ltd said as lead manager
a board of foreign trade official told the government would send two buying missions to america between june and july this year and might send others later
proceeds of the offering will be used to repay 60 mln dlrs of debt with the balance to reduce any outstanding borrowings under the companys revolving credit loan agreement and for working capital purposes
as banks checking account liabilities rise so do the reserves that they are required to hold on deposit at the fed
today we still have lower interest rates than at the end of 1986 quite the contrary of other countries where interest rates have risen substantially more poehl said
year ago shr figures reflect 2 for 1 split on april 15 1986
last year south korea ran a 43 billion dlr trade surplus including a record 71 billion surplus with the us and a 55 billion dlr deficit with japan
wisconsin public service corp said in its annual report the companys five year construction program 1987 through 1991 is projected at 330 mln dlrs
asked if there had been any change in the fundamentals of each nation since the february 22 paris accord he said he did not think the fundamentals themselves had changed substantially
but rigid adherence to dollar ranges would be bad said morrison
cortronic corp ctrn year loss
eyskens has repeatedly stressed that he believes the ems has to be reinforced if the ecs plans to liberalise all movements of capital across national borders by 1992 are to go ahead
because of the level of public sector external receipts in the fourth quarter of 1986 and the first quarter of 1987 mexico will not draw the first two tranches of the continency facility totalling 451 mln dlrs citibank said
first of america has 79 billion dlrs in assets
tenneco rose two points to 48 3 4
shr profit 25 cts vs loss nine cts net profit 3433000 vs loss 1310000 revs 371 mln vs 390 mln nine mths shr profit 28 cts vs profit 27 cts net profit 3883000 vs profit 3908000 revs 1332 mln vs 1320 mln avg shrs 138 mln vs 142 mln note current net includes gain on sale of 31 inns of 7719000 dlrs for qtr and 7975000 dlrs for nine mths
prime minister brian mulroney said the government was considering selling petro canada and the sale would proceed if it were in the national interest to do so
brazilian finance minister meets swiss officials
instinet corp said its board has scheduled a special shareholders meeting for may 21 to vote on its proposed merger into holdings plc rtrsy it said shareholders of record as of april 10 will be eligible to vote at the meeting
the national pork board announced at the american pork congress convention in indianapolis that refunds under the legislative checkoff program are running less than expected
the company said the slower than expected removal of the fuel which has been primarily due to the water clarity problems is now expected to extend fuel removal into 1988
the london international financial futures exchange liffe could cut further into the simex contract with a us treasury bond contract that can be offset on the cbot they said
this eliminated the widespread market caution against possible joint central bank intervention kidokoro said
geronimus said the banks future aim would be to reinforce its existing strong points with no major projects planned apart from the opening soon of a basle branch
speakers at a conference on world agricultural markets here demonstrated a growing us european consensus on the need for an urgent and collective overhaul of world farm trade and production
monsanto mtc says debt was cut in 1986
its total debt now stands at about 500 mln dlrs with annual interest payments of nearly three mln dlrs
brazils attempt to seek better terms for paying off its 109 billion dlr foreign debt is responsible and modest a former chairman of president reagans council of economic advisers said
tsr inc tsri 3rd qtr feb 28 net
the sources said the credibility of opec would come under fresh scrutiny from today monday with activity in the european and american markets the daily said
but while the terms are in line with the market they are somewhat tight bankers said
the fed set a 60 day period for public comment on the plan
the payment date is may 27
banks minimum reserve holdings at the bundesbank totalled 536 billion marks on monday averaging 540 billion over the first nine days of march
they said the reduction brings exxons contract barge price to 4325 cts
this is a transition year for gm he said
moodys said the units hoover and rowenta have leading market positions
lac minerals ltd and cambior inc said they completed a second hole at their jointly owned doyon mine in quebec which showed two significant gold intersections
fundamental adjustments will be needed as long as japan hopes to benefit from a better international allocation of resources and maintain the free trade system it added
gm march us car output 395294 up from 366671
meanwhile saskatchewan trade minister bob andrew expressed confidence canada would win its case claiming the problem stems from low international commodity prices and not government subsidies
the proposal was the most controversial part of a reform package due to be discussed by ec farm ministers later this month of the ecs common agricultural policy widely seen as the root cause of the ecs persistent financial problems and of tensions with major trading partners
ah robins qrah files monthly report
paul mlotok oil analyst for salomon brothers inc said that even with the rise in prices for the last week or two weve only altered our average price scenerio to about 1750 dlrs for the year analysts said that at that price renewed drilling and exploration to reverse the decline in us crude oil output will not take place as the companies are waiting for stable prices over 20 dlrs to renew exploration
provinsbanken increases euro cp program
the company said completion is expected in the third quarter
the administration opposes any legislation that would tie its hands in votes on the loans
colombia jan exports up but coffee values fall
indonesia will build a crude palm oil terminal at a new port on batam island south of singapore research and technology minister yusuf habibie said
inro council meeting adjourned until thursday
usair offered of buy 50 pct of that airlines stock for 71 dlrs cash per share and the balance for 73 dlrs per share in usair stock
expectations for product stockdraws are already being reflected in firmer prices traders said
the bundesbank left credit policies unchanged after todays regular meeting of its council a spokesman said in answer to enquiries
the us said it intended to raise tariffs of as much as 300 mln dlrs on japanese exports to the us on the grounds japan had abrogated a bilateral semiconductor pact
det oestasiatiske kompagni a s east asiatic co 
the soviets have not purchased wheat or soybeans in the fourth year of the agreement
iraqi troops reported pushing back iranians
we wouldnt be able to do business said a spokesman for leading japanese electronics firm matsushita electric industrial co ltd mct if the tariffs remain in place for any length of time beyond a few months it will mean the complete erosion of exports of goods subject to tariffs to the us said tom murtha a stock analyst at the tokyo office of broker james capel and co in taiwan businessmen and officials are also worried
port and transport union representative paul rosenmuller described the court ruling as a victory for the union but added there was still a long way to go before the dispute that has hit the general cargo sector for the past eight weeks was resolved
japanese officials said late last week a package to bolster domestic demand will be ready in early april
two hundred feared dead in ferry disaster
banco di sicilia international sa is issuing a 30 mln us dlr zero coupon eurobond due april 15 1992 and priced at 7040 nomura international ltd said as joint bookrunner
wal mart stores inc wmt raises quarterly
some economists argued that the because the gain in total sales excluding autos also followed a decline in january the strength in the february report is less than impressive
the figures are subject to revision over a long period
the uae suffered a 195 pct drop in gross domestic product to 776 billion dirhams last year from 964 billion in 1985 it added
markets were quick to react to the statement chopping about one us cent and over one pfennig off the pound to match the levels mentioned by lawson
the summit has been dominated by lengthy talks on moves to alter the entire system of financing the 12 nation group and plugging a 57 billion dollar budget shortfall for 1987
the average price was a record 127100 dlrs surpassing the previous record 119100 price set in december
the bass group said it had talks with other taft stockholders and members of taft management about participating in a group to acquire control
mercantile bancorp said its mercantile bank na raised its prime rate to 7 3 4 pct from 7 1 2 pct effective immediately
ericsson sells office machine division
uk lead and zinc offtake rises in january
moodys and s and p ratings are pending
computer associates wang and uccels liemandt said at a news conference that the merger would give computer users a single source for a wide range of software products
under the terms of the merger dixons said the remaining public cyclops shareholders are to receive 95 dlrs a share
oper shr profit 63 cts vs loss 115 dlrs oper net profit 6629000 vs loss 124 mln revs 236 mln vs 224 mln year oper shr profit 165 dlrs vs loss 128 dlrs oper net profit 175 mln vs loss 138 mln revs 931 mln vs 868 mln note oper data does not include loss from discontinued operations of 7932000 dlrs or 73 cts per shr in 4th qtr 1985 loss of 405 mln dlrs or 383 dlrs per shr in the 1986 year or gain of 1043 mln dlrs or 968 dlrs per shr in 1985
a total of 10968 kilos of silver were assayed an 111 pct rise
the imf observed in its world economic outlook that it has to be recognized that exchange rate adjustments take time to work through to payments flows probably at least three years to get a resonably complete effect the report added however the adjustments may take even more time on this occasion m
we look upon it as a temporary measure to get over the current balance of payments difficulty
the great atlantic and pacific tea co said its three year 345 mln dlr capital program will be be substantially increased to accommodate growth and expansion plans for waldbaum inc and shopwell inc over the next two years
under the pact tokyo agreed to stop selling cut price chips in world markets and to increase its imports of american semiconductors
bankers trust said it assumes that debt negotiations between brazil and its commercial bank lenders will lead to the resumption of interest payments
the value of the agreement will be based on citizens adjusted book value at year end and the trading price of first commercials stock
waste management wmx board okays modulaire buy
it regards a stable exchange rate as its main target using interest rate policies to influence the exchange rate
thailand exported 4842 tonnes of zinc ingots during the first quarter down from 14937 a year ago
another objective is to improve the efficiency with which hydrocarbons are used by pakistans water and power development authority wapda in power production it said
it made the request by telephone
tenneco inc tgt one of the largest us gas producers is skeptical that a need for additional gas drilling exists
new world pictures ltd nwp 4th qtr net
the higher prices will stick because its japanese competitor komatsu has had to raise prices because of the increased value of the yen he said
kuwaits petrodollar reserves in mid 1986 were put officially at over 80 billion dlrs earning investment income of the equivalent of about 365 billion dlrs a year
the demand wasnt so good a dealer for a german bank in london said
walt disney increases eurobond to 75 mln aust dlrs
ecuador begins work on oil pipeline to colombia
share analysts said they saw supervisory board approval of the management board proposal as virtually a formality
hanson han to sell bonds delivery service
norway boosts oil output by 22 pct in september
1985 amts restated in connection with companys distribution of investment in kay jewelers inc
it will supply 100000 tonnes at a rate of 9692 us dlrs a tonne as a first consignment by april 7
but he said there were no incidents
analysts are projecting 1987 earnings of 220 dlrs to 275 dlrs a share up sharply from 179 dlrs in 1986
husky said a special committee of five outside directors recommended the board approve the transaction after determining that the deal was in the best interests of husky and fair to shareholders
usx corps uss subsidiary said that effective with shipments beginning july 1 prices for all leaded grades and 1200 series grades of hot rolled bar and semi finished products from its lorain ohio facility will be increased by 15 dlrs a ton over the prices in effect june 1
st
it said a steep decline in oil prices had led to a major transfer of resources from oil producing countries to industrial nations
he added the company could be introduced onto the paris bourse in the near future
bolivia halted all payments on its commercial bank debt in march 1984
the agreement envisages those fundamentals to include japan and west germany stimulating their economies and the united states cutting its budget deficit
first financial management corp said its board declared a three for two stock split of its common stock
also to be included in the write down are charges against its advances to an arizona based communications electronics firm the company has an option to acquire it said
anchor glass container corp said first quarter net income is now expected to exceed the 31 mln dlrs earned before extraordinary items in the year earlier quarter
we have not gone from no confidence to full confidence yet commented one banker who saw the agreement as having marginal influence on fundamental economic problems
hallmark stores sells secured bonds
in january plm power entered into a letter of intent to negotiate a potential acquisition of sunlaw subject to substantial due diligence the company said
the area sown was two to 22 mln hectares down 299 to 363 pct on the record 314 mln hectares in 1985 86
these actions reflected security pacifics continued high levels of nonperforming assets and charge offs s and p said
during the hiatus between the two agreements the international natural rubber council will remain in place
mexico brazil and venezuela are the only latin nations with large trade surpluses last year with the united states but even mexico with the largest had a surplus of only 52 billion dlrs against japans of 586 billion dlrs
santos alvite added ecuador is finalizing details for a program under which venezuela would temporarily lend the country 50000 bpd for export
maha paddy output was now estimated at 70 mln bushels 20 mln less than originally expected
labatt 38 pct owned by brascan ltd brsa said brascans 49 pct owned great lakes group inc agreed to acquire 75 mln dlrs of the debentures from the underwriters
bi inc said it is implementing a one for 15 reverse split to shareholders of record today
the company said its new posting for west texas intermediate and west texas sour is 19 dlrs a barrel
gulf said it voluntarily informed appropriate government officials when the material was discharged
this would make five cents for the year against a first and final of one cent in 1985
american express said options under study range from expanding shearsons capacity to meet international competition to broadening its access to capital
house of fabrics inc hf 4th qtr jan 31 net
qtly div five cts vs five cts prior pay april 17 record march 16
the raws price was set at 150 dlrs fob and 173 dlrs 10750 stg cif
coastal has requested its plan and disclosure statement be set for hearing in bankruptcy court judge manuel leals court on april 28 and 29 along with the transamerican plan
but the agency cautioned this did not reflect a change in the units underlying credit strength
the other three lead managers are bank of tokyo citicorp international ltd and the industrial bank of japan ltd
fed expected to add temporary reserves
spot tin prices on the european free market are currently around 4200 stg per tonne for high grade metal in warehouse rotterdam
esso raises singapore petrol pump prices
cigra inc of chicago won a contract to supply 33000 tonnes at 9689 dlrs per tonne for november 25 december 10 delivery
adobe resources corp adb 3rd qtr net
kansas city hard wheat futures rose another 2 1 4 cents by midday at 288 1 4 dlrs per bushel while cbt march wheat was up 1 1 2 cents at 292 1 2 dlrs
assuming a 90 pct acceptance of the offer michigans annual cash interest requirements will be reduced by about 106 mln dlrs it said
the last price increase made by oil companies was around may 22
wilson said in the current 1988 fiscal year higher than anticipated spending particularly in farm income support programs will be offset by higher than anticipated revenues
dutch seasonally adjusted unemployment totalled 690600 people in february unchanged from january but down from 732700 in february 1986 a social affairs ministry spokesman said
april 30 end shr losses not given net loss 449000 vs loss 155000 revs 84000 vs 52000 nine mths shr losses not given net loss 810000 vs loss 394000 revs 173000 vs 144000
gpu said the dividend is of modest size representing less than a third of the amount paid as a dividend by the average electric utility
the promotion of the cooperative and private sectors of the economy has been an important part of the modernisation campaign with measures introduced recently to allow the setting up of small shops on a private basis
proceeds will be added to continentals corporate funds to provide additional liquidity
period ended december 31
the issue price of the european investment banks 300 mln guilder 625 pct bullet bond due 1995 announced on april 1 has been set at par lead manager amro bank said
biotherapeutics bitx in nasdaq expansion
however the agency pointed out that a substantive improvement in the large banks financial positions has acted as a counter balance to the latin american debt situation
the philippine coconut industry has greeted with relief the defeat in the us senate of a bill requiring some edible oils to be labelled as saturated fats
callon petroleum clnp gets qualified audit
the offer would be on the basis of three willis shares for every two in stewart valuing each stewart share at about 6555p
the bass family would not comment on american medical or pesch
whittaker corp said it has completed the previously announced sale of its wholly oiwned whittaker general medical corp subsidiary to rab holdings inc for undisclosed terms
the moodys index includes a sample of liquid bonds moodys chose to mirror the credit quality maturity duration and coupon distribution of bonds in the industrial utility and financial sectors of the us secondary market
the government announced plans to build the icebreaker last year following the controversial passage of the us coast guards vessel the polar sea through the disputed northwest passage
he had said the rise was not in line with the spirit of the louvre accord aimed at stabilizing the us dollar last february
treasury bond futures came under pressure today which traders linked to a persistently firm federal funds rate and a rise in oil prices
it added that spring sowing in southern parts of the country was some two weeks behind schedule because of the late thaw but gave no precise crop estimates
centerre ctbc acquires benefit plan services
they say that without innovations some business could drift to london which the bundesbank vehemently opposes
a statement issued by the wallenberg holding companies ab investor and forvaltnings ab providentia said they had taken over an option held by nobel industrier sweden ab to acquire 33 pct of the voting rights in swedish match
plenum publishing corp plen offering of 50 mln dlrs of convertible subordinated debentures due april 15 2007 through bear stearns and co inc
he declined to give details of the statement but said central bank president francisco gros was seeking a 60 day extension of short term credit lines from its commercial bank creditors
the dilemma is that if german interest rates rise too far they will attract funds into the country pushing up the mark and hurting west german exporters
talks between the european community ec and the united states have failed to settle a trade dispute over pasta an ec commission spokesman said
licht put this years soviet beet area at 340 mln ha against 344 mln last year
the economy was now on a modest growth upswing boosted by export and import replacement industries which had created a false suggestion that the worst adjustments to the balance of payments crisis were past
the plant which has a 660 ton per day capacity will be operated by du pont the company said
for investors buying less than 100000 dlrs of the notes the offering was priced at par to yield 45 basis points over comparable treasury securities
harper also said that new world pictures a shareholder has requested a copy of harpers shareholder list to be used in soliciting proxies
it actually does nothing for anyone who has been stuffed and right now thats the problem said a trader at one uk clearing bank that has also issued its own perpetuals
the land based missiles have increased concern in kuwait and other middle east countries that their oil shipments might be affected
in their joint spring report the institutes were divided about 1987 growth forecasts with three predicting two pct expansion and the other two only one pct growth
general partners willing to pay 110 dlrs share for gencorp
the us attack was in retaliation of last fridays hit of a kuwaiti oil products tanker flying the us flag the sea isle city
its industrial division with assets of about 90 mln stg including debt is being reviewed and parts may be sold
shr loss two cts vs loss four cts net loss 199010 dlrs vs loss 398202 dlrs revs 1284939 dlrs vs 359440 dlrs nine mths shr loss 10 cts vs loss 14 cts net loss 973542 dlrs vs loss 1298203 dlrs revs 39 mln dlrs vs 1269098 dlrs notethe third quarter ended april 30
describing the 15 billion dlr assessment as nebulous one diplomat said it also included losses of hypothetical orders and setbacks to polish research through the curbing of scientific links and exchanges
s and p said the action reflected beverlys aggressive plans to repurchase stock that would increase financial risk while earnings prospects become more clouded
the treasury accepted 64 billion dlrs including 18 billion dlrs from the fed and 11 billion dlrs from foreign and international authorities
johnstown american cos said it began a tender offer for the 500000 outstanding shares of its 1985 preferred stock
the bond in denominations of 1000 and 10000 dlrs will be listed in london
foreign exchange borrowings by local and foreign banks reached almost 12 billion us dlrs by the end of april according to official statistics
however most analysts are still looking for a full point about march 17 budget day
resorts also has about 6432000 class a common shares outstanding
ameribanc inc is raising 15 mln dlrs through an offering of convertible subordinated capital notes due 1995 with an eight pct coupon and par pricing said lead manager stifel nicolaus and co inc
fitchburg said this would lower its cost of capital in the future and give the utility an opportunity to reduce existing lines of credit
it had previously said the quota system started in 1980 should be wound up completely by the end of next year
in addition many japanese companies are committed already to large german banks
cotton president of finalco group inc a paradise valley ariz data processing equipment maker said he bought the stake which includes warrants to buy 186300 shares for 266958 dlrs
greyhound lines will go forward with the transaction only if it is permitted to assume immediate unconditional control of trailways operations and to integrate them with its operations greyhound said in a filing with the icc the federal regulatory agency which has the final say over mergers of interstate bus companies
poehl welcomed the so called louvre accord of monetary officials of major industrialized countries saying the importance of the february 22 agreement to stabilize exchange rates had been underestimated
the state bank of victoria issued a 50 mln australian dlr bond paying 14 1 2 pct over three years and priced at 101 3 8 pct
the company emphasized the first quarter is a traditionally slow period for the ferry industry which is part of sea containers business
some prices advanced by as much as 1 1 2 points yesterday as the rest of the market eased back further
french state sell offs raise 52 billion francs
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
it is a pity we need such a wide interest rate difference between west germany to maintain the exchange rate he added
the spokesman declined to comment on us newspaper reports that the purchase price of the remaining stake totalled 173 mln dlrs
also the companys competitive position should be substantially strengthened by the merger moodys said
henley heng to issue subsidiarys shares
but he added trade imbalances would also be corrected by commitments from west germany and japan to stimulate their economies and by us efforts to cut the budget deficit and enhance us competitiveness
this loss is an increase from the 60 mln dlrs loss reported on operations gte owned a year ago quarter and prior to entering a joint venture with united telecommunications ut in july 1986
period ended jan 31 net loss 89255 vs loss 277536 sales 913136 vs 854194 six mths net profit 481372 vs loss 555722 sales 1845532 vs 1754076
the company said it is now entitled to subscribe for all the authorised but unissued and unreserved shares of common stock of cyclops which total some 54 mln shares at 9025 dlrs each
net includes charges 157 mln dlrs in both periods of latest year vs charges 239 mln dlrs in both periods of earlier year from merger of divisions
they can be converted into shares of the companys stock at 23 1 2 dlrs a share
south korea to keep trade surplus 3 5 years
trading in the beneficial interests which are listed on the new york stock exchange will cease after today
shr 13 cts vs 12 cts net 470000 vs 311000 revs 158 mln vs 8176000 avg shrs 3723000 vs 2512000 nine mths shr 36 cts vs 43 cts net 1138000 vs 993000 revs 405 mln vs 219 mln avg shrs 3199000 vs 2283000 note 1986 includes extraordinary credit of 160000 or six cts per shr in qtr 1986 and 511000 or 22 cts per shr in nine mths 1986
north central labs nclb discusses aids tests
the rebound occurred after standard and poors corp downgraded the debt ratings of 84 billion dlrs of debt of texaco and its subsidiaries to d traders noted
cable and wireless plc cawll said its subsidiary hong kong telephone co ltd would cease to be a listed company following the restructure of the companys hong kong units
februarys weather is usually more adverse for home building
the company said the equipment is for use in the laiohe oilfield 350 miles northeast of peking and will equip a 140 well program
qtly div 57 cts vs 57 cts pay april 30 record april 3
london grain freight enquiries
natl healthcare nhci to sell five hospitals
vr business said it issued 3964000 shares of common stock and 11846 shares of preferred stock with the remaining shares of common to be listed within the next week to 10 days
martin processing said it accepts 20 dlrs share bid from courtaulds plc
if we can get the price up to the value of the company we will not be vulnerable to takeover pressure said charles blackburn diamond shamrocks president and soon to be chief executive officer of the new exploration and producing company whose name has not yet been decided
the bentsen proposal supported by 24 other senators would would require the president to issue annual three year oil import forecasts
singapore petroleum co raises oil product postings
economists were also heartened by further signs of a deceleration in money supply growth not only in the largely discredited m 1 gauge but also in the more closely watched m 2 and m 3 aggregates
brougham noted that so far the us banks have only reached 83 1 2 pct of the total that is expected from them while the level of contributions from the uk banks is well in excess of 90 pct
dixons says sec moving on cyclops cyl tender
these options boost production while avoiding the huge costs associated with proposals like an oil import fee herrington told a house energy subcommittee hearing
however that company was later sold to a buyout group that topped the hafts
as well as dealing with the ongoing litigation the council will continue with its statistical work and carry out some research studies although staffing in the research department is being cut to one from two previously
operating earnings however were off about four pct and analysts have attributed the decline to rockwells allen bradley unit which has suffered from weakness in the industrial automation market
taiwan buys 450000 tonnes of us corn
commercial union has had a euro commercial paper program since the autumn of 1985 and a guilder commercial paper program since january 1986
japans unemployment rate seen rising to 35 pct
brokers said improved results had been widely expected by investors
westar mining ltd 4th qtr loss
petrolane partners lp lpg 3rd qtr loss
foreign trade minister anita gradin said a trade boycott of south africa and neighbouring namibia would take effect from july 1 followed by a three month period of grace to give companies time to wind down their operations
eurodollar deposit rates were steady from this morning with six month funds unchanged at midpoint 6 11 16 pct
however walker noted that this included a revised definition of reserves
the shipping corporation of india sci has asked its ships to avoid the port until the dispute is over national union of seafarers in india president leo barnes said
the federal reserve may intervene in the government securities market to add reserves today some economists said although others felt that the fed was likely to refrain from any action
growth in oil consumption in the western industrialised countries is likely to slow to around one pct this year compared with 23 pct in 1986 the international energy agency iea said
fresh juice co inc frsho 1st qtr feb 28 net
shr 98 cts vs 70 cts net 123 mln vs 8699000 sales 2847 mln vs 2807 mln nine mths shr 283 dlrs vs 223 dlrs net 353 mln vs 276 mln sales 8246 mln vs 8184 mln note share adjusted for december 1986 three for two split
iran leader vows revenge on us raid in coming days
total reserves were revalued to 2704 billion dlrs but would have totalled 2415 billion under the previous valuation the treasury said
this compares with 29 pct in april and 27 pct a year earlie
ec sugar import levies
the oecd forecast a 275 pct rise in consumer prices for the second half of this year a one pct drop from the first six months
he said in the interview the us purchases were to reduce his countrys 71 billion dlr surplus with the united states and also to cut its 56 billion dlr shortfall with japan
rudy boschwitz r minn said
smithson said japanese banks started buying smaller and problem plagued banks in 1984
consumer spending capital spending goverment spending and net exports data show very weak first quarter gnp growth of one pct he said
qtly div 26 cts vs 24 cts prior pay april 30 record april 15
the government will find it very difficult to achieve its new gross national product gnp forecast of three pct growth in the fiscal year ending march 31 economic planning agency officials said
traders said the new market would probably be a useful trading medium for japan and other south east asian tin interests although european traders generally appear to be reasonably satisfied with the current free market system which has been operating since london metal exchange lme tin trading ceased in october 1985
denominations will be 500000 and one mln dlrs
he said it is clear that the increased flow of non oil tax revenues coupled with the prospective further growth of the economy in excess of the growth of public expenditure puts the public finances in a very strong position lawson said the treasury would strive to keep the psbr at 10 pct of gdp in future
spanish money supply growing at double target pace
the company today reported 1986 earnings from continuing operations of 5255179 dlrs down from 176 mln dlrs a yuear earlier due to lower prices for crude oil and pipeline capacity constraints
masstor msco in pact with natl westminster
current year net includes charge of 716000 from contract obligation to former chairman
french bonds for 445 billion francs approved
work on greek alumina plant to start end may
woodstock is the holding company for the 110 mln dlr state bank of woodstock
admin edp of sydney australia is a full service software sales and services firm
activity has slowed primarily reflecting an inventory adjustment while unemployment has risen rapidly and inflation has reaccelerated the oecd said
if they are not resumed by years end chemical said its after tax net for the whole of 1987 will be reduced by about 51 mln dlrs
the company will be consolidated with mcgraw hill france it said
the bank of england was also rumored to be buying dollars against the yen this morning but it also declined comment
in a five year protocol signed in 1985 cairo agreed to purchase 500000 tonnes of canadian wheat a year
an investor group challenging the los angeles license would also receive 103 mln dlrs from disney
life of indiana corp lifi 4th qtr loss
bank of montreal lowers credit card rate
venezuela is seeking a constructive and flexible attitude from its creditor banks in current talks to reschedule 21 billion dlrs in foreign debt finance minister manuel azpurua told a press conference
the forecast initially looks positive for both the bond and the foreign exchange markets one analyst said
no further details on the loan were immediately available
expressed in terms of dollars imports rose 212 pct and exports 261 pct and the trade deficit increased by 78 pct
brokers securities inc bkrs 4th qtr loss
qtly dividend 17 cts vs 17 cts pay april 10 record march 26
traders said the story which appeared in usa today added speculation which began on the street last week
although in line with the latest organisation for economic cooperation and development oecd estimate of 21 pct growth the forecast will be balanced by growth in investments and exports balladur said in an interview with the daily les echos
thermo process tpsi acquisition terminated
the southerners goal of including agricultural and tropical products also was met
baker cut short a long planned trip to scandinavia to return here to deal with the economic crisis
the annual fear of frost in brazil will probably grip the market sometime this month until june or early july one trader said
it would take about 100 mln us dlrs to repair the pipeline the official who did not want to be named told 
but we should not forget that less than a year ago we were intervening to support sterling and had some temporary difficulty in persuading the markets that a one pct increase in base rates to 11 pct was a sufficient tightening of policy at the time he added
the cuts follow a similar move by national westminster bank plc nwbll the rate changes take effect tomorrow
the commission which regulates the states oil and gas industry heard testimony from a number of high level company executives reflecting a belief that the recent industry downturn had bottomed out
of decatur ill is a terminal elevator on the mississippi river doug snyder assistant to the vice president said
mcintyre also said it provided a three mln dlr last recourse letter of credit to the alberta government for smoky river coals reclamation obligations
they said chung would leave for washington on monday to attend the international monetary funds imf interim committee meeting and for talks with us officials on ways of reducing seouls trade surplus with washington
oilseeds in the northwest region were about 80 pct emerged in many areas with other regions 50 to 70 pct emerged
the improvement was the first increase this year in the weekly rig count which had dropped steadily since early january when a total of 962 rotary rigs were working
volkswagen dividend decision due tomorrow
the action increases the value of export credit guarantees for wood products to haiti from 18 to 28 mln dlrs and the total value of export credit guarantees authorized to haiti for the current fiscal year for all commodities to 120 mln dlrs the department said
shr not given net loss 690 mln vs profit 3682000 revs 2583 mln vs 2296 mln six mths shr loss 588 mln vs profit 133 mln revs 5179 mln vs 4665 mln note company recently spun off from carter hawley hale stores inc chh current year net both periods includes 408 mln dlrs in pretax charges from carter hawley hale restructuring
nippon signal co ltds 50 mln swiss franc five year notes issue with warrants has been priced at 1 1 4 pct compared with the originally indicated 1 3 8 pct lead manager morgan stanley sa said
shr 11 cts vs 24 cts net 419000 vs 938000 revs 162 mln vs 169 mln year shr 25 cts vs 95 cts net 952000 vs 3001000 revs 646 mln vs 688 mln backlog 303 mln vs 319 mln note 1986 net includes nonrecurring gain 383000 dlrs in quarter and charge 175000 dlrs in year
the debentures are due june 1 2002 and pay a semi annual coupon of two pct and are priced at par
the department headed by finch among other responsibilties makes certain that imf policies and loan conditions are wielded evenly among countries
allwaste alwso to make acquisition
as previously reported etl moved into the market for monier shares last week taking its stake to 137 pct by friday
in june the icco is due to discuss rules for a withholding scheme as an additional market support mechanism
see ecra for spotlight headlines we are looking at trade interest rates and financial flows in order to put forward a basis for some permanent solutions mexicos public credit director angel gurria said
ecuadorean officials held their last formal meeting with the advisory committee in new york in january but the negotiations were suspended on january 16 due to the 12 hour kidnapping of president leon febres cordero by air force paratroopers
group figures for 1986 exclude bsv bank fueer sparanlagen und vermoegensbildung ag which no longer consolidated
the economy faces lackluster growth and the risk of recession this year if the recent improvement in us exports should falter economists say
shr diluted 31 cts vs 60 cts net 3276776 vs 6846367 revs 1877 mln vs 1813 mln nine mths shr diluted 52 cts vs 151 dlrs net 5301876 vs 164 mln revs 5357 mln vs 5130 mln
gabelli firms hold 285 digiorgio dig stake
fleet has a plus senior debt a subordinated debt and a 1 commercial paper
integrated genetics inc said the food and drug administration approved field trials of a hormone which is essential to the regulation of cows reproduction
the paris club multilateral agreement concerned medium and long term debt due between september 1986 and end 1987 over 10 years with five years grace
the statement made no mention of net profit figures
the finance ministry said its auction yesterday of 1000 billion yen of tankoku six month debt financing paper produced a record low average yield of 3246 pct on aggressive bidding from securities houses
the spokesman quoted wallis as saying drastic measures would be needed to stave off protectionist legislation by congress
ph acquisition co a unit of pratt hotel corp said its 135 mln dlrs per share tender offer for all shares of class b common stock of resorts international inc expired
a company spokesman said specific figures were unavailable
asked if chase manhattan would consider an acquisition in italy hunter said we will look at any opportunity but the prices of italian banks have been quite high chase manhattan has branches in milan and rome
the spokesman said the discovery was made at the gos ia 1 offshore exploratory well about 38 kms east of langsa in aceh
in the single week to wednesday banks borrowings at the discount window less extended credits averaged 302 mln dlrs compared with 228 mln dlrs in the first week of the statement period
qtr and year current excludes foreign tax 312000 and 1179000 respectively which payment would have been required in the absence of foreign operating loss carryforwards from prior years
raised were coastals notes debentures and eurobonds to bb minus from b plus and subordinated debt and preferred to b plus from b minus
losses for volkswagen ag vowgf vw linked to an alleged foreign currency fraud will not exceed the 480 mln marks provision already made a vw spokesman said
but emphasis on short term cash flow has also forced the company to part with several oil and gas assets
the utility on march 17 offered to exchange its 15 pct first mortgage bonds due march 1 1994 for a new series of first mortgage bonds 9 1 4 pct due april 1 1997
for example us automakers who are already saddled with high stocks produced at an annual rate of 83 mln units in february compared with domestic car sales of 73 mln
a spokeswoman said the distribution date for the split has not been determined
yesterday the international energy agency in its monthly report said that oil stocks in the oecd area or in industrialized nations were drawn down by 13 mln bpd during the first quarter of this year
another part will allow bolt to exercise its option to purchase all of the limited partnership interests in bbn rs expert limited partnership with the rest used for general corporate purposes
he would then talk to the commercial banks if ive got some solution from the governments
the agreement was viewed by many in the market as an attempt to put a floor under the dollar after its sizeable two year decline against major world currencies
the bonds will be listed in london and will be issued in denominations of one mln yen
powerful agricultural cooperatives are fiercely opposed to import liberalisation but are more flexible about reforms aimed at stepping up productivity they said
the european commissions decision to release an additional 300000 tonnes of british intervention feed wheat for the home market will provide only moderate relief in an increasingly tight market traders said
hayes albion hay delays special meeting
non seasonally adjusted but smoothed figures show a deficit of 112 mln dlrs against 144 mln in january and 281 mln in february 1986
kaunda dismissed central bank statements the new auction system would be used to allocate foreign exchange to private bidders but not to fix the exchange rate
first bank which announced plans in 1985 to restructure its banking assets by offering to sell 28 of its banks with a total of 45 offices said agreements have now been signed for 43 of these offices
there has been some change but its not across the board said one us spokesman
im tired of going into companies and having managers say to me were not over competing in japan because we cant compete in the marketplace that argument needs to be taken away from american business gephardt said
june t bonds were trading at 97 2 32 or 31 32 down on the day immediately before the figures
us tells japan to do more to cut trade surplus
a us embassy report said last month thailand could achieve five pct real gross domestic product growth in 1987 up from a projection of 38 pct for 1986 and 37 pct in 1985
computer has been in reorganization proceedings under chapter 11 since september 1986
the peruvian government announced it would assume 136 billion dlrs of foreign medium and long term debt of the state electrical power firm electroperu sa and its nine regional subsidiaries
the proposed offer by etl controlled by new zealand entrepreneur allan hawkins came after it built up a 1499 pct stake in monier in a 95 mln dlr share raid in recent days
the company said it could break even this year
he said citibank na is his lead lender and first boston inc is his financial adviser
yoot said thaisarco had to dig into its stocks to meet a large portion of new overseas orders which were averaging 100 tonnes per day
the stock amounts to 1462000 shares and most of it was reported in an earlier 13 g filing
repayments under the scheme were 85 mln dlrs after 90 mln previously with capital repayments of eight mln after three mln last month
chinas foreign exchange reserves fall during 1986
stanley interiors corp is raising 25 mln dlrs through an offering of convertible subordinated debentures due 2012 with a seven pct coupon and par pricing said lead manager salomon brothers inc
eurobond prices in the floating rate note sector slumped across the board by as much as a full point on some issues
shr 12 cts vs 34 cts net 787000 vs 2250000 revs 236 mln vs 236 mln nine mths shr 70 cts vs 106 dlrs net 4598000 vs 6974000 revs 731 mln vs 736 mln note share adjusted for three for two stock split in december 1986
poor business prospects were attributed to the yens rise and slow world steel demand
period ended sept 27 shr nine cts vs 24 cts net 474000 vs 880000 sales 112 mln vs 118 mln avg shrs 5369555 vs 3654986 note 1986 figures include tax credits of 113000 dlrs or three cts a share
the farm credit systems reduced need for medium to long term financing also enabled it to cancel bond issues scheduled for january 20 and last october 20
hughes supply inc said it has signed a letter of intent to acquire most of the assets of tri state supply inc a wholesale distributor of electrinical fixtures and supplies with sales for the year ending tomorrow of about 13 mln dlrs
he said he had received a reassuring response from the japanese he has spoken with
rte corp said it completed the purchase of the us aluminum electrolytic capacitor business and related assets of emhart corp for undisclosed terms
west germanys thesing issues 10 mln sfr bond
he noted that certain countries have already been removed from the list
1987 qtr and nine mths includes loss 4850000 dlrs or 16 cts per share and loss 146 mln dlrs or 58 cts per share respectively from payment of preferred dividends
smithkline skb aims for 10 pct earnings raise
but companies capital gains will be charged at the appropriate corporation tax rate he said that under the new proposed system companies should be able to set advanced capital tax act payments against tax on capital gains
the external current account deficit rose to a record preliminary 345 billion crowns in 1986 from 291 billion in 1985 bringing total foreign debt to 265 billion crowns according to government statistics
a group of firms led by ps group inc psg said it increased its stake in airlease ltd depositary units representing limited partners interest to 700400 units or 151 pct of the total outstanding from a previous figure of approximately 651000 units or 14 pct
japan consumer prices unchanged in february
it said it is obligated to deliver another 2741660 shares on the attainment of a certain level of shareholders equity during any fiscal quarter within 12 months of closing
the employers had invited the unions for talks later today but details of the labour agreement would not be on the agenda van der vorm said
however sen
the bank of england said it provided the market with further assistance during the afternoon buying bills worth 166 mln stg at the lower rates introduced this morning
usda noted that the soviet winter grain crop suffered through a severe winter and spring field work has been delayed
exxon corp xon rose 1 1 8 to 88 1 2
britton lee blii sees first quarter loss
ny cocoa traders still cautious on icco
a quarter of the one billion crown total share capital will be available to foreign investors government officials said
the taxes levied on the tin mines rose to 44 pct this month from 11 pct ad valorem over the past year
qtr ended may 2 oper shr three cts vs 11 cts oper net 333000 vs 885000 revs 149 mln vs 122 mln note latest qtr exludes writeoff of 735000 dlrs from store renovation
the state owned peoples construction bank of china is making its first foreign borrowing 300 mln dlrs to finance a large ethylene plant in shanghai the peoples daily said
city investing co liquidating trust said it declared a cash distribution of 25 cts a unit payable april 10 to unit holders of record april one
argentina is aiming at four pct growth in 1987 and has said this target is not negotiable
asked which ec countries might be expected to vote against the proposed tax he said realistically from the information were getting it looks like the english the germans hopefully the netherlands and denmark his delegation also hoped to convince belgium to vote against the issue he added
british petroleum co plc bpl said it intended to make a tender offer for the 45 pct of standard oil co srdn it does not already own at 70 dlrs a share cash for a total of 74 billion if the offer is fully accepted
wainoco said it had filed a registration statement with the securities and exchange commission for the offering of the two mln units consisting of two shares of common stock and one warrrant per unit for a total of four mln shares of common stock and two mln warrants
energen egn buys municipal gas system
the need for provisions was much lower than the year before said tony measor of hong leong securities co ltd
holiday hia unit sells notes and debentures
carolina power said mayo two was projected to cost about 877 mln dlrs including 200 mln dlrs for scrubbers
the measures taken by the military are directed towards protecting our rights greece said yesterday it would defend its national rights in the aegean and urged turkey to accept reference of the dispute to the international court of justice in the hague
in addition west germany said it would veto plans for cereal price cuts and for a change in the green currency system
in reporting that first half results declined from 650 mln dlrs minorco said the contributions from its 50 pct investment in december 1985 in adobe resources corp was negative as a result of low oil and gas prices
i think that if they were to do that theyd create the same conditions that we did in 29 they choked off the money supply and what happened we went into a major recession
according to the complaint soviet mercury sales in the ec had risen from zero in recent years to 100 tonnes between august and october last year and threaten to capture 25 pct of the ec market if they continue at the same pace
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
shr profit nil vs loss 10 cts net profit 2936 vs loss 170866 revs 4147248 vs 1091392
japan asks banks to cut dollar sales dealers
a colombian group announced the suspension of its bombings of oil pipelines pending the governments levy of a social tax on foreign petroleum companies and an 800 mln dlrs fine on the occidental petroleum corp oxy there was no indication the government would meet the conditions demanded by the leftist national liberation army eln according to the state oil firm ecopetrol the eln carried out 72 attacks on petroleum pipelines between 1984 and 1986
a ban on rice imports triggered recent us complaints about japans agricultural policy
raytech corp said it acquired raybestos industrie produkte gmbh for 75 mln dlrs
since last thursday united states treasury secretary james baker has criticized the bundesbank rate increases
dick van splinter president of fundamental brokers inc the largest of the four major government bond brokers here said he now has 45 firms using direct dealing screens up from 35 a year ago
trw inc trw 3rd qtr net
the emery offer tops a 35 dlr per share buyout agreement ef hutton lbo inc reached with purolator february 27
ussr wheat bonus rumors persist despite denials
he said that the so called cruzado plan had worked for a while but that new efforts by the government are now required
the company said it is raising its stretch film prices by six pct as of april 15 to reflect the higher costs of polyethelene resin
pay date is may 7
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
casino hotel operator and real estate developer donald trump said he has agreed to purchase the class b common stock of resorts international inc held by the family and estate of late resorts chairman james crosby for 135 dlrs per share
international technology corp said it has purchased western emergency services inc in a pooling of interests transaction
there will also be an investor put option annually at par
what it really is a narrowing of the spread that could be charged on new money the official said
more
businessmen are deeply concerned about the effect on industry of import restrictions introduced earlier this year because of the countrys deteriorating trade balance
ltv ltv wins 185 mln dlr pakistan order
however economists said it is almost certain that the fed is aiming for much lower discount window borrowings than witnessed this week
shr 42 cts vs 35 cts net 1540000 vs 1289000 year shr 159 dlrs vs 63 cts net 5849000 vs 3980000 note 1987 year excludes 1814000 dlrs for tax credits
federal funds hovered at 6 1 8 pct this morning after averaging 632 pct yesterday
apparel store sales were up 08 pct last month after falling 30 pct in january while sales at eating and drinking places increased 15 pct after rising 05 pct in january
the bank also said that at least initially auctions will be alloted on a bid price basis a system under which bidders are allotted stock at the price which they bid
consumer goods such as fashion and wine as well as traditional industrial exports will be promoted
he added that the allocations would probably be in the form of loans to be repaid when these nations resume sales
usda officials declined to comment on the draft regulation except to say it was subject to change before it will be released probably some time later this month
the improvement will be gradual and long lasting levy predicted
li said the decision to spin off cavendish is to relieve hongkong electric of public criticism of the power company for making risky investments
both banks operate on an islamic year that does not coincide with the other nine
magnetic technologies corp said it expects the second half to show continued growth in earnings and sales
porex technologies porx sets initial dividend
rice season begins august 1
thermo process systems inc said its proposed acquisition of the surface combustion division of privately held midland ross corp has been terminated because mutually satisfactory terms could not be established
western issues structured settlement annuities for the settlement of personal injury and damage claims and sells tax sheltered annuities
transcanada would own 80 pct
the company said it will make the proposal to shareowners at its annual mmeting may 6 in dothan ala near the companys great southern paper division operations
shr 64 cts vs 40 cts net 149 mln vs 8600000 revs 4685 mln vs 4117 mln nine mths shr 264 dlrs vs 296 dlrs net 616 mln vs 670 mln revs 143 billion vs 132 billion
six months to dec 31
high production costs continue to bedevil the zambian industry
the departments annual report for the year ended march 31 1986 showed exports insured by the department fell to 157 billion stg from 174 billion the year before while its debt to the exchequer almost doubled to 756 mln stg
operating income derived from electric operations in the first three months of 1987 is estimated to be eight mln dlrs while the contribution from gas operations will be about 10 mln dlrs green said
it said negotiations are expected to resume at the end of this month
goodyear gt to sell stake in toyobo petcord
they declined to disclose details of the negotiations but said it would be unrealistic to expect an outcome until next week at the earliest
poclain traded friday on the paris bourse at 3820 francs
the itcs failure has restricted negotiators ability to compromise as governments do not want to be involved in pacts with built in flaws or unlimited liability but want clear lines drawn between aid and trade
each goldsil shareholder will receive one share and one half warrant
the company said it expects to proceed with a merger and has advised cyclops it intends to increas the per share amount to be paid in the merger to 95 dlrs form 9025 dlrs for each of the about 880000 remaining cyclops shares outstanding on a fully diluted basis
a finance ministry official told the increase in bond issues was necessary to finance 14 major projects including highways power plants an underground railway and a receiving terminal for liquefied natural gas
transfer of the license for the sation has been approved by the federal communications commission
among those ideas the official said were suggestions that commercial banks create a megabank which could swap third world debt paper for so called exit bonds for banks like regional american or european institutions
for the year ago first quarter the company reported a profit of 100000 dlrs on 73 mln dlrs
los angeles based engineered magnetics designs and produces custom power conversion systems mainly for use in the defense and aerospace industries
moodys investors service inc said it upgraded federal paper board co incs 290 mln dlrs of debt
the april index base 1980 was set at a provisional seasonally adjusted 1973 up from 1948 in march
publicker industries inc pul 4th qtr loss
doskocil dosk shareholders vote reverse split
safrica disclosing new arrangement for foreign debt repayment today finance ministry says
closing is expected soon pending appropriate approvals the company said
akzo buys rhone poulenc household units
s p downgrades canadas province of saskatchewan affects 168 billion us dlrs of debt
in return latin nations would have to give up their 54 pct simple majority voting power over iadb lending
but the jacksons spokesman noted that the more valuable a stock would only be sold to filipinos or companies registered in the philippines
it holds 388600 shares in ogelbay representing 1168 pct of the delaware based company
robin fuller of agri analysis said the usda made a major upward revision of 105000 head in the size of the breeding herd in the december 1 report
the surplus for exporters to the us is bullish for bonds because they exporters have a lot of dollars
ormand industries omd unit to repay debt
bhp will also bring its queensland coal operations under one management structure and consolidate minerals marketing and sales offices in various markets throughout the world
mcdonalds corporation is issuing a 75 mln canadian dlr eurobond due may 14 1992 paying 8 1 2 pct and priced at 101 5 8 pct lead manager morgan guaranty ltd said
live cattle exports are in addition to the meat purchase requirements the department said
newpark resources inc year ended dec 31 loss
brazil has suspended the importation of 500000 tonnes of maize ordered last year because of the excellent domestic maize harvest expected this year agriculture minister iris resende said
etl has declined to say why it intervened in monier beyond describing it as a long term investment
michigan sealy had sales of about 125 mln dlrs in 1986
britain normally a keen advocate of radical changes in the ecs costly farm subsidies system warned the proposal to impose the tax on both domestic and imported oils and fats could seriously damage the ecs trade relations with other countries
but british chancellor of the exchequer nigel lawson rebuffed funaros bid and said commercial bank loans were a matter for banks and not governments
blocker energy corp blk offering of 12 mln shares of common stock through drexel burnham lambert inc and alex
mcdonnell douglas corp has received a 600 mln dlr contract for long lead advance work on f 15e aircraft the air force said
if cash hogs at the 7 markets last year averaged 61 dlrs during july that doesnt mean hogs have to be 15 dlrs cheaper this year because we have six pct more numbers he said
esso singapore pte ltd said it raised pump prices of petrol from today
although the yens rise will have a greater deflationary impact on the economy the economy is not likely to slow down much further sumita said
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
olin corps olin hunt specialty products inc said it acquired image technology corp for undisclosed terms
apple bank for savings applo 3rd qtr net
coastal said the plan is expected to be filed with the federal bankruptcy court on april 15
optically psychologically these single figures are much more attractive for the borrower
the purchase was part of a strategic plan to diversify and then match earnings between copper and non copper operations
ldbrinkman corp ldbc 2nd qtr jan 31 loss
barring last ditch obstacles which cant be totally ruled out in an issue involving a nations pride and substantial political and economic interests zaire and its creditors are bound to come to terms soon a western diplomat told 
alkan had said earlier this year it would close half the plants capacity but decided to shut down completely when talks with potential cooperation partners failed the spokesman said
the house estimated that the industry last year withdrew 20000000 ounces of silver from stocks to bridge a supply deficit caused by a consumption rate of 403000000 ounces and production level of 382000000 ounces
trade house kaines said it sold jordan two cargoes of white sugar at its buying tender today
consolidated group premiums totaled 1700 billion lire in 1986 compared with 1490 billion the previous year
ny business loans fall 718 mln dlrs in march 4 week fed says
on exercise of the redemption right the investors would be entitled to repayment of the bond at a premium to par that would provide a total rate of return equal to the yield on the issue date of four or six year us treasury bonds
as anticipated march sales were lackluster in our seasonally sensitive businesses due to easters being three weeks later this year than last the company said in a statement
many producers are more interested in working towards reimposing quotas from october 1 based on a new system of quota allocations valid until the international coffee agreement expires in 1989 they said
siew said the taiwan dollar had risen by about 15 pct against the us dollar since september 1985
jefferies makes market in cyclops cyl 
has raised its stake in telecom plus communications inc
we have chosen a military target but we also have shown iran that we are willing to interfere with its oil exporting capabilities cordesman said
japan warns us it may retaliate in trade dispute
alusuisse bearer shares closed at 490 francs yesterday registered shares at 170 francs and the participation certificates at 4550
shr 22 cts vs 49 cts net 296994 vs 657416 revs 65 mln vs 95 mln year shr 78 cts vs 151 dlrs net 10 mln vs 20 mln revs 276 mln vs 294 mln
note net is after tax 17103 mln dlrs vs 18852 mln interest 33739 mln vs 30868 mln depreciation 35232 mln vs 33305 mln but before net extraordinary loss 25028 mln vs profit 2803 mln
its surplus rose to 814 billion dlrs in february from 57 billion dlrs in january
in the last 12 months it has raised us prices by around 20 pct without suffering any decline in sales
egypt rejects veg oil offers to retender
emerson radio eme sells debt privately
1987 net excludes tax credits of 1569000 dlrs in quarter and 2894000 dlrs in nine mths
shr loss 22 cts vs loss 18 cts net loss 3035000 vs loss 2516000 revs 209 mln vs 196 mln qtly div three cts vs three cts prior year shr profit two cts vs profit 34 cts net profit 215000 vs profit 4647000 revs 934 mln vs 987 mln note dividend payable april one to shareholders of record march 17
new york business loans fall 222 mln dlrs
qtr ends jan 31 shr 22 cts vs 19 cts net 4549000 vs 3666000 revs 8903000 vs 7791000 avg shrs 209 mln vs 199 mln six mths shr 42 cts vs 41 cts net 8641000 vs 7928000 revs 175 mln vs 146 mln avg shrs 208 mln vs 194 mln note earnings were restated to reflect the three for two stock split on april one 1986
preston corp said it expects to report a loss of about 300000 dlrs or five cts per share for the first quarter compared with a profit of 1081000 dlrs or 19 cts per share a year before
ambrit inc abi in payout
he said the current instability of exchange rates will not last
bryson oil and gas plc a belfast northern ireland oil company which has said it is considering seeking control of cenergy corp said it raised its stake in the company to 1281887 shares or 132 pct of the total
the federal reserve entered the government securities market to arrange six day repurchase agreements for system account a spokeswoman for the new york fed said
continuing strong demand for fresh and processing fruit coupled with seasonal declines in supplies mean that grower prices will remain higher this spring than a year earlier
the new york stock exchange said tenneco inc declined to comment on whether there were any corporate developments that might explain the unusual activity in its stock
he said in a statement the oil industry already pays an effective lower rate of us tax on investment 15 pct versus aggregate corporate tax on all investment of 34 pct according to a recent congressional research service study
the company has said its possible applications include treatment of some types of hepatitis herpes influenza childhood diseases and hemorrhagic fevers
french operators have requested licences to export 40000 tonnes of free market feed wheat 32500 tonnes of soft bread wheat 375000 tonnes of barley and 465000 tonnes of maize at todays european community tender trade sources here said
equiticorp hk unit to raise 30 mln us dlrs
berisford lifts first half profit 25 mln stg
for the first time all participants at the summit agreed that a further fall in the dollar would be harmful for all world economies including the us poehl had said
gulf arab ministers discuss economic cooperation
it said the debenture would have a five year term bear 10 pct yearly interest and be redeemable by first toronto after one year at issue price
midlantic corp said it agreed to acquire county bancorp for about 23 mln dlrs in an agreement calling for county trust co a county bancorp subsidiary to merge into midlantic national bank north
smithkline begins the year with a new management team including its new chief operating officer george ebright
warner communications and its subsidiary said the berkey stock is held as an investment which they will review and evaluate from time to time
production of oil the countrys main export to western nations hit 100 mln tonnes in january and february up from 973 mln a year earlier and exceeded its target by 05 pct
the mec shares will be bought from the granddaughters of the firms founder
the reserve bank said it will not offer any treasury notes for tender next week
each warrant is exercisable into 100 shares of common stock of japan synthetic rubber
5300 is a delaware corporation formed by american seaways foods inc rini holding co and rego companies which owns 15 mln shares of fisher or about 44 pct of its outstanding common stock
fed drafts currency rate swap risk gauge
american motors amo board meeting on takeover
at this time we have to get our priorities right he said
earthworm tractor co inc worm year loss
also colorado interstate gas cos first mortgage bonds were raised to bb plus from bb and debentures to bb minus from b plus while the units preferred was affirmed at bb
so far this coffee year kenya has sold 918707 bags to all markets of which 326182 are for the 1986 7 pool with an overall average price of 41500 shillings a tonne it added
the bond is guaranteed by den norske creditbank and is available in denominations of one mln yen
wang der hwa deputy director of the finance ministrys customs administration department told reporters the list of products included 60 items asked by washington
swiss net capital exports rise in 1986
up to 35 pct of the revolving credit will be available subject to two months notification
hechinger hecha offering of 100 mln dlrs of convertible subordinated debentures due 2012 through morgan stanley and co inc
in the latest attempt fujitsu ltd itsut japans biggest computer maker unsuccessfully bid for fairchild semiconductor corp a us microchip maker which supplies components for supercomputers
bayou international buys stake in solomecs
gradually theyre imposing restrictions and the direction is towards complete control the broker said
sigma said the reserves are equivalent to 10 years future production at current milling rates
abbey national has been very active in the international capital markets ever since building societies were permitted by law to tap the wholesale markets
investor lifts myers myr stake to 121 pct
the narrow range trading is also taking its toll on trading volume he noted
austrian current surplus grows in four months
during the interview durham and other executives also said continued strong demand and tight copper supply should lead to higher prices for the metal
prices have been falling steadily since the international coffee organization failed in february to reach an agreement controlling exports by its members and pressure was renewed this week as the executive board of the organization met in london without reopening debate on its export quotas
it said other reductions include the use of professional services administrative costs manufacturing overhead and non essential development services adding these cuts are expected to have a significant impact beginning in the second quarter
shr 25 cts vs 23 cts net 488000 vs 443000 assets 2893 mln vs 2139 mln deposits 254 mln vs 1885 mln loans 1564 mln vs 1234 mln note per share amounts adjusted for stock dividends
in a field report the officer said indications were that winter kill might well be more than 100000 hectares compared with 38000 last year
eastern europe area is forecast at 473 mln ha against 472 mln
it said the support price for wheat was hiked to 300 australs per tonne from 250 previously and for sunflowerseed from northwestern argentina to 450 australs from 360 previously
damaging effects were seen in the fields most of which show stands with a yellow brown cast indicating extensive leaf and possible root damage from repeated freezings he said
the rating change reflects expectations of lower fixed charge coverages and lower internal funding over the next several years duff and phelps said
net income in the quarter was 394 mln dlrs or 112 dlrs a share on sales of 178 billion dlrs
the bank did not operate in the market in the morning and earlier revised its estimate of the shortage in the system today down to 400 mln stg from 450 mln
also among the issues are 24417 mln dlrs of class j three bonds to be fully paid by may 2015 and priced at par to yield 826 pct and 11491 mln dlrs of floating rate class j four bonds to be fully paid by the same date and priced at par to yield three month libor plus 050 pct
for oelmuehle the acquisition of noblee means access to new markets the statement added
foreign ships may also suffer if dock workers join the action he said
ziering said he expected the food and drug administration to approve three more of its drug abuse test kits by the end of the year which depending on approval should also help earnings growth
imports dropped to 431 billion taka in october from 822 billion in september and 472 billion in october 1985
it said the transaction will result in a loss of about 605000 dlrs or 50 cts per share which it will take in the fourth quarter ending june 30
in the final quarter gdp in 1981 prices and at annualized rates rose a slight 02 pct after expanding 08 pct in the third quarter
its crude oil reserves dropped to 140 mln barrels from 158 mln barrels in 1985
hudson bay mining and smelting co ltd said it cut prices for all grades of zinc sold in north america by one us ct a pound and by one canadian ct a pound effective immediately
western tele communications wtlca 4th qtr net
sudans finance minister said last month the countrys imf representative had told him the funds executive board was very pleased with the 185 mln dlrs arrears we have paid in the past couple of months the representative omer said said imf managing director michel camdessus said he would ask saudi arabia to which sudan owes about 14 billion dlrs to help khartoum to pay more
of the five nuclear plants originally envisioned by wppss one has been completed two remain under construction and two others those for which the defaulted bonds were sold have been terminated
sumita has said in the past that he expects the economy to show a gradual upturn in the second half of the year
but they saw the us strike as a limited reply to iranian missile attacks with some describing it as responsible
in its release yesterday s and p cited what it termed an outstanding record of sales and earnings growth by hechinger
under the paris accord tokyo promised a package of measures after the fiscal 1987 budget was passed to boost domestic demand increase imports and cut its trade surplus
sumita says bank will intervene if necessary
japan has said it cannot open its markets to beef imports
worldwide competition and overcapacity will continue to take its toll on industrial companies moodys added
laurentian group corp said it expects 1987 earnings per share will show about the same proportionate increase as in 1986
harlow said a fellow analyst at whale securities estimates that anacomp will pay between 100 mln dlrs to 150 mln dlrs for datagraphix
wardair international ltd is third with about nine pct
drought threat eases in south china province
the financing will begin with the monthly auction on tuesday march 24 of 10 billion dlrs of two year notes
redstone 63 catapulted himself into the big leagues of entertainment early today when a group of viacom managers and their financial backers decided not to top nationals bid
year oper shr 123 dlrs vs 185 dlrs oper shr diluted 123 dlrs vs 179 dlrs oper net 6799000 vs 9321000 revs 7474000 vs 124 mln avg shrs 4503000 vs 4350000 avg shrs diluted 4508000 vs 5206000 note net excludes gains from discontinued operations of 386000 dlrs vs 903000 dlrs
despite rapid increases in domestic production over the last 30 years imbalances between supply and demand continue to be extremely serious the farmers daily said
the iso executive committee next meets on april 23 with the next full council session in the week of may 19
stoltenbergs statement was a reaction to criticism of rises in west german interest rates voiced by us treasury secretary james baker over the weekend
texaco tx eurobonds unquoted at market opening
rexnord inc said it expects to merge with a wholly owned subsidiary of banner industries inc in early may
hospital corp says it received 47 dlr a share offer from investor group
some 80 pct of japans lpg imports are from the middle east
importers and some key exporting countries have shunned a generalised approach to commodity price stabilisation and prefer to assess each commodity case by case the survey showed
he said he would not seek more money from the international monetary fund to which brazil paid 922 mln dlrs last year and said brazils problems could not be solved by imf intervention
shr 158 cents vs 129 cents int div six cents vs same group net 1990 mln dlrs vs 1625 mln turnover 39070 vs 38160 mln note div pay aug 3 register july 31
it is too early to say if china can retain its current market share in 1988 tracomin said
enro shirt has annual sales of about 42 mln dlrs and foxcroft has sales of about 13 mln dlrs
returning to changing levels of interest rates lawson stressed that they are not an objective for the government they are an instrument of policy consequently the treasury had no precise target for domestic borrowing levels he said
higher spending expected in malaysias 1988 budget
pfaudler and kennecott are subsidiaries of standard oil
norstar carries aa senior debt aa minus subordinated debt a plus preferred stock and a 1 plus paper
there has been a reassessment of sterlings fundamentals lawson said
a further 856 people were rescued
malaysia says rubber pact depends on consumers
the bill now goes to the house
french official reserves 37595 billion francs end jan 42100 billion end dec official
it is useful to have a devaluation he said
south africa gdp up 47 pct in 1986 last quarter
finance director david ewart told the news conference the performance of the group so far in 1987 was within reasonable touch of the budget lord catto also said the group was actively seeking a new chief executive to replace sir peter carey who is acting as interim director after reeves resignation and hopes to have a new chief executive within a few months
all previous selloffs since mid november have stopped and buyers have surfaced at that level keefe said
the talks begin tomorrow with high level discussions on the economic structures of both countries and how they affect the bilateral trade imbalance which last year amounted to 5148 billion dlrs in japans favour
louis dreyfus 5300 tonnes same corn june 1 25 at 7549 dlrs fob gulf
indias state owned national thermal power corp said it has signed an agreement to borrow 1691 mln marks at a fixed annual 648 pct interest for 15 years and eight months an ntpc official said
integrated generics inc said it is discussing with an unnamed pharmaceutical distributor the sale of 10 pct of its anda development corp subsidiary for 200000 dlrs
as reported audis sales in the us dropped nearly 20 pct to 59800 last year
but energy sector output fell nine pct and mining production declined seven pct
the us department of agriculture will probably decrease its estimate of the 1986 87 florida orange crop today to as low as 123 mln boxes from 129 mln boxes analysts and industry sources said
eurofima issues 125 mln ecu 10 year eurobond
cigna corp said it has fixed april 24 as the date for the previously announced redemption of its 998 mln dlrs of outstanding eight pct subordinated exchangeable debentures due december 1 2007 at 105867 pct of par plus accrued interest
newmont gold 95 pct owned by newmont mining corp said it expects significant increases in gold sales in 1988 and 1989 as well
american cablesystems acn to buy cable system
some said there is also a chance gasoline stocks will be unchanged
clark equipment ckl buys 13 mln shares
britains gold and currency reserves rose a record underlying 476 billion dlrs in may following aprils 29 billion dlrs increase the treasury said
the proposals are still under review by the interagency working group the usda official said
some 247 billion dlrs in bids for six month bills were received including 832 mln dlrs in non competitives
the 15 year convertible bond was for the bank of tokyo ltd and has an indicated coupon of two pct
international demand was also slow but some inquiries from far eastern buyers were noted in south american producer countries the sources said
it said the downgrade reflects the substantial increase in the companys debt in order to finance the acquisition and the risks of assimilating such a relatively large acquisition
some 50 pct of the purchasing managers reported that they were paying higher prices in march than at the end of 1986
dowa mining co ltd said it will start commercial production of gold copper lead and zinc from its nurukawa mine in northern japan in april
lowest temperatures will be minus 10 to 0 degrees f
the spokesman told that brazils suggestion will be communicated by telex to brazils 700 bank creditors
the us agriculture department said private us exporters reported purchases from foreign sellers of 120000 tonnes of wheat for delivery to unknown destinations
the company has tremendous leverage and if it can get its act together and if oil prices are steady to higher there is good room for improvement he said
the contents of the message were not disclosed
economic spotlight saudi arabia reshapes economy
investors up intermedics itm stake to 168 pct
we are determined not to go the way of latin american debtor nations which have suspended interest payments of their debts the spokesman said
wang said he would look closely at the combined operations of the two companies and cut duplication in sales marketing and research and development
the market should include a comprehensive range of futures and options trading so tokyo can develop into a real global money centre where a variety of risk hedging instruments is available the proposal said
brown said the abandonment rate this year was pretty high at 155 pct because of weather problems in key producing states
japanese will be aiming for new businesses in high technology areas
in order to keep the international monetary system free of disruptions central banks should not only intervene jointly but also cooperate on interest rate policies koehler said
supermarkets general sgl sells 11 drug stores
oii holdings corp a concern formed by kohlberg kravis roberts and co said it completed its previously announced acquisition of owens illinois inc
shr loss 30 cts vs loss 73 cts net loss 3895267 vs loss 8250222 revs 3237235 vs 234745 note 4th qtr data not available
chicago board to submit yen bond futures contract
bally acquired six flags for 1474 mln dlrs in january 1982 from penn central corp
the group which also includes sterling grace capital management inc lp and anglo american security fund lp said it was willing to deposit in escrow 100000 japan fund shares worth about two mln dlrs to insure its ability to obtain financing if japan fund approves its offer
the issue like all swedish domestic paper is closed to non residents
there is a 10 basis point annual facility fee in years one to four rising to 12 1 2 points thereafter
but members have jealously guarded their sovereignty in economic and monetary matters
union corp said it agreed in principle to sell its union flonetics corp subsidiary to irvin kaplan a houston investor
permits had risen 10 pct in august from july levels of 1487000 units
but robert giordano chief economist at goldman sachs and co scoffed at the notion
the market now looks set sooner or later to push the dollar down further in a test of the willingness of central banks to intervene
they also list abdulla bakr president of the university of petroleum and minerals economist ali jonahi ahmed shinawi and zuheir masoud director of jeddah islamic port
1986 results include operations of realtech realtors which was acquired in 1986
earlier supporters of the coffee bill hoped it could be passed by congress quickly
venezuela plans to have a public sector foreign debt of 265 billion dlrs by early 1989 when the present government of president jaime lusinchi ends its term public finances director jorge marcano said
1986 nine mths excludes gain of 34 mln dlrs from sale of subsidiary bank 1986 and 1987 shr and avg shrs restated for one for 50 reverse stock split
habbel blamed the profit decline on disruptions to output caused by the introduction of the new audi 80 model on currency factors and on negative publicity in the us about alleged sudden acceleration of some of its audi 5000 models
international game technology igam offering of 35 mln dlrs of senior notes due 1995 and 25 mln dlrs of convertible senior subordinated deberntures due 2002 through drexel burnham lambert inc
im hoping we will have the best year in our history profit wise he told reporters following a speech at the american institute of chemical engineers meeting
the next regularly scheduled meeting of american motors board will be april 29 although it is expected that directors will meet again prior to that date according to the statement
the usda monthly cold storage report for meats is expected to have little if any effect on livestock and meat futures at the chicago mercantile exchange monday and daily fundamentals will likely provide the bulk of direction livestock analysts said
boeing co said the hart scott rodino waiting period required in connection with its pending tender offer for argosystems inc argio expired at midnight june 18
feds okay western carolina savings conversion
venezuela to announce new debt conversion plan
only farmers with a record of growing suger beet have been allotted quotas
japan seeks to strengthen paris currency accord
in a prepared statement the company said the dramatic swing in operating results was due primarily to the steep decline in sales of cabbage patch kids products from 600 mln dlrs to 230 mln dlrs
the ministers also gave west germany a go ahead to move towards a ban on the sale of leaded regular petrol after bonn requested permission to do so to encourage the use of low pollution cars diplomats said
more cynical traders said the pressure of market forces and politics in debt heavy latin american producer countries could bring ico members back around the negotiating table sooner than many imagine
the new price for west texas intermediate is 1900 dlrs a barrel
the bundesbank has tolerated an overshooting of its money supply target arousing criticism from other quarters he said
brazilian finance minister extends trip to japan
analysts said the banks decision not to offer stock next week reflects the higher demand for funds at the start of the system of provisional tax payments
it said the mine would be operated by a contract miner but the associated mill by geodome
it said it bought the shares for investment purposes and might increase its stake in the future
texaco told us they would get back to us but instead they chose to go to bankruptcy court jamail said
velayati visiting the united arab emirates on the first leg of a gulf tour told reporters iran had the capabilities and means to prevent any interference
energy minister arturo hernandez grisanti said wednesday the cost would be 33 mln dlrs in cash plus an additional 60 mln in crude and refined oil shipments
but brazil and venezuela are the only countries in the region to have rescheduled debt without an imf program
the dot added however that twa was free to refile when it could put together an application for control that met the agencys procedural requirements
i would guarantee you that this company is not in trouble
mine safety mnes sells south africa unit
the company is especially attracted by the scale and depth of us money and credit markets and wants to establish a firm foothold there the spokesman added
bank economists and dealers said a west german move to further lower the rate on securities repurchase pacts would result in the central bank easing the special advance rate provided the guilder mark relationship permitted
revs for qtr include non insurance revenues of 1627518 vs 1550329 and for year of 7289973 vs 4639162
the proposed issue volume is 475 billion yen against the 600 billion in february
the company said revenue gains in electronics major appliances and other lines were offset by decreases in energy services and aircraft products
petroles de venezuela also signed a 25 year agreement to supply at least 140000 bpd of venezulean crude oil and naphtha to the refinery at market related prices
mony funding inc is issuing a 125 mln dlr eurobond due april 7 1997 paying 8 1 8 pct and priced at 101 1 2 pct sole lead manager citicorp investment bank ltd said
were taking this sentence very seriously he said
nevertheless bond and stock markets remain to a large extent fragmented and lagging behind he said
at this months session which was the fourth attempt in two years to negotiate a new inra the main issue to be resolved concerned the mechanism for adjusting the reference price
note 1987 3rd qtr includes a 106 mln dlrs or 41 ct a share after tax loss from discontinued operations mainly from sale of assets of oil and gas exploration and production subsidiary on september 30
usda changes low protein wheat terminal prices
fernandez said central bank bills introduced in march 1984 to mop up excess liquidity had peaked at 431 billion pesos in april 1986
the funds will be used in the 700 mln dlr pacific petroleum project which includes the construction of a 267 km pipeline connecting nuevo teapa in the oil rich state of veracruz and salina cruz oaxaca on the pacific coast
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
iran said reports that it intended to threaten shipping in the gulf were baseless and warned the us and other countries not to interfere in the region
consolidated net loss 554 billion francs vs loss 1093 billion
with total bahia crop estimates around 64 mln bags and sales standing at almost 62 mln there are a few hundred thousand bags still in the hands of farmers middlemen exporters and processors
but the source close to the philippines said ongpins anger goes beyond the dollars
shr 60 cts vs 54 cts net 5726000 vs 4623000 avg shrs 9538260 vs 8598198 nine mths shr 161 dlrs vs 135 dlrs net 150 mln vs 115 mln avg shrs 9277440 vs 8486590
following the accord atpc chairman subroto appealed to the united states to restrict its tin releases from its strategic stockpile
australia leading index continues rise in december
cannon international said viva films international agreed to exclusively distribute cannon films in the philippines for the new four years
us producer energy prices rise in february
the preferred shares are convertible to the same number of common shares following hart scott rodino and fdic approvals
usda analysts gave the following enrollment breakdown wheat 2615140 acres corn 1894764 acres barley 705888 acres sorghum 585552 acres cotton 417893 acres rice 2035 acres peanuts 611 acres tobacco 285 acres total program crops 6512700 acres total nonprogram 4059702 acres total enrollment 10572402 acres usda analysts are currently working on a complete state breakdown of crop acreage enrollment and should have it ready for publication later this week they said
but a spokeswoman pointed out that financial corp has said publicly for nearly two years that in the companys view a merger would be one method of increasing the companys capital
in a filing with the securities and exchange comission the group of firms said it holds 2430100 shares of digiorgio common stock
qtly div 20 cts vs 20 cts previously pay june two record may 12
if indeed the reason dudley taft is no longer president is because the bass group tossed him out i couldnt see them backing him on any deal said one analyst who asked not to be identified
the raid killed eight workers and destroyed the main living quarters and a bridge linking a wellhead to the main production platform
however several companies share the optimistic industry outlook expressed by a majority of analysts
international platinum corp said it signed a letter of intent to enter into further negotiations on a joint venture exploration agreement with degussa ag of west germany regarding several north american platinum properties
donald trump said he has agreed to purchase crosby estates resorts shares
oper shr 10 cts vs eight cts oper net 325000 vs 228000 sales 7070000 vs 6483000 avg shrs 3313000 vs three mln year oper shr 69 cts vs 51 cts oper net 2124000 vs 1536000 sales 312 mln vs 227 mln avg shrs 3071000 vs three mln note 1986 net both periods includes 72000 dlr tax credit
hoechst celanese corp said it sent propsective customers a confidential report describing its polyester textile fiber facilities in north carolina and south carolina
sorghum from bahia blanca increased 050 australs to 7650 per tonne and dropped one to 75 at rosario
theres not much thats off the table in terms of creative thinking about ways to sell cars says david cole analyst with the university of michigans transportation research institute
inelectra kellogg said is a major venezuelan engineering firm
other broad predictions of the survey relating mainly to the april june quarter follow the dollar is likely to decline five to 10 pct further against other major currencies because of a large us budget deficit and a wide but narrowing trade gap
it owns first granite city national bank and colonial bank of granite city ill
wurlitzer foundation told the securities and exchange commission it cut its stake in wurlitzer co to 89000 shares or 498 pct of the total outstanding common stock from 125000 shares or 70 pct
if vital supplies were cut off tehran could not continue the war with iraq
moniers independent directors have recommended etls bid
baldrige says us to impose japanese sanctions
wal mart stores inc said it has completed the acquisition of super saver warehouse inc and super saver is now a wholly owned unit of wal mart
in january the senate approved a bill that would make 1987 winter wheat farmers eligible for disaster assistance payments
the government of president victor paz estenssoro faced with mounting social unrest against its economic policies has said the miners strike was part of a campaign to discredit it during the visit of west german president richard von weizsaecker who arrives today for a four day official visit
androsch said industrial holdings had performed better in 1986 than in previous years giving a return on investment of 26 pct compared with 13 pct in 1985
zim energy corp said it has entered into an agreement for a group consisting of strategy and development inc norsk vikingolje a s of oslo and mis gas corp which already owns one third of zim to buy 15 to 20 mln new common shares at 20 cts each in association with polo energy corp and jaguar petroleum corp the company said the investor group also bought about 63 mln shares from zim management
but many said they did not expect the proposals to lead to higher prices in the industry simply because of the competition the phone industry giant faces
certificated cotton stocks deliverable on the new york cotton exchange no 2 cotton futures contract as of april 8 were reported at 34661 bales down 421 bales from the previous days figure
oper shr 28 cts vs 33 cts oper net 1647000 vs 1910000 revs 197 mln vs 175 mln nine mths oper shr 82 cts vs 84 cts oper net 4787000 vs 8748000 revs 559 mln vs 530 mln note prior year net excludes tax credits of 29000 dlrs in quarter and 1761000 dlrs in nine mths
trade department officials said the improvement in britains current account contrasted with most private forecasts and they attributed much of the strength to imports rising less quickly in february than might otherwise have been expected
the tuesday peak included about 100 mln dlrs of transportation float in mid and south atlantic states
the treasurys operating cash balance totaled 12131 billion dlrs on march 27 compared with 13283 billion dlrs on march 26
non opec egypt has pledged to restrain output to support opecs moves to boost oil prices
new zealand may need about 100000 tonnes of wheat this year which would normally come from australia but may be from the united states the us agriculture department said
shr 19 cts vs 14 cts net 487000 vs 344000 revs 7492000 vs 5883000
the decree said the government adopted the move to obtain financing for high priority investment projects which it did not specify
the company said after april 3 the exercise price of its warrants will return to two dlrs until they expire april 21
lyng said uncertainties about wheat quality in some major producing areas of the world volatile wheat prices and the still unfinished soviet grain harvest could delay any final decision on the timing of another wheat subsidy to moscow
last november the mexican government authorized an export quota of nearly 11 mln head of live cattle for the 1986 87 season aug july most of which goes to the united states
the seven year revolving credit has a commitment fee of 010 pct per annum under which drawings will be at 5 16 pct over the london interbank offered rate libor the facility also incorporates a swing line facility which would allow for same day drawings in the us market for up to three business days at the floating us prime rate
southern new england telecommunications corp snet said it expects to have good earnings in 1987 against 446 dlrs per share or 1392 mln dlrs in 1986
proceeds from the sale would likely be invested in pacific lightings new specialty retailing line of business and its oil and gas operations the company said
blue arrow to buy us richards companies
the joint committee of taiwans soybean importers awarded a contract to cargill inc of minneapolis minnesota for supply of one 32000 tonne cargo of us soybeans a committee spokesman told 
bremer landesbank kreditanstalt finance curacao nv is issuing a 40 mln australian dlr eurobond due april 24 1990 paying 15 pct and priced at 101 3 8 pct lead manager anz merchant bank ltd said
the principles of the draft proposal included establishing an offer system for buffer stock purchases rather than a posted price system a limit to the amount of non icco member cocoa that can be bought and differentials to be paid for different varieties of cocoa comprising the buffer stock delegates said
last time there was a lot of false information submitted to customs which resulted in a lot of indictments and fines a us customs spokesman said
skandia international holding ab the overseas offshoot of swedish insurance group forsakrings ab skandia skdsst said it was buying a 299 pct share in the london quoted property and financial services company nevi baltic plc no financial details were given
but it said when the strengthening of the terms of trade is taken into account the real gnp in 1986 advanced by 15 pct compared with a decrease of 05 pct in 1985
in weight terms the 719 mln grams of british gold assayed was a 153 pct increase while the 295 mln grams of foreign gold represented a rise of 31 pct
argentinas agriculture secretariat set new support prices for grains and oilseeds an official statement said
they declined to comment on other decisions taken
don hanes vice president for communications with the national council of farm cooperatives said 5600 cooperatives exist today down from 6700 five years ago
no one is exactly sure how to proceed with structuring and marketing these issues
by 1992 93 bass strait output is expected to be just over half the 1985 86 level assuming a number of so far undeveloped fields are brought on stream and enhanced recovery from existing fields goes ahead benbow said
the treasurys account with the bank dropped 13 billion guilders
the company said the guarantees are subject to the placement of over one mln dlrs of reinsurance and to a pending change of control of developers insurance
brown said the bank of boston remains cautiously optimitic about the full year even if our brazilian exposure were to be on nonaccural all year in 1986 the bank earned 369 dlrs a share or 2328 mln dlrs on net interest revenues of 108 billion dlrs
the price was last changed september 9 unocal said
jordan petrocanada agree oil exploration project
shr 49 cts vs 57 cts net 251 mln vs 289 mln revs 2028 mln vs 2209 mln 12 mths shr 405 dlrs vs 366 dlrs net 2239 mln vs 1864 mln revs 135 billion vs 134 billion note full name potomac electric power co 1987 year includes extraordinary gain of 217 mln or 46 cts per share for the june 1986 sale of the companys virginia service territory to virginia power
he said this was a major improvement and a step in the right direction and added us allies look very strongly to a us budget deficit cut
during the first quarter of calendar year 1987 they have been running at a lower rate compared to 1986
venezuela and its bank advisory committee have agreed in principle on revisions to the terms of a 21 billion dlr debt rescheduling package signed last february bankers said
grey marketeers may also be able to outfox any new restrictions some industry officials said
tanjug said the agreement was reached after hearing the imfs report on the state of yugoslav economy and a long and lively debate between creditors and members of the yugoslav delegation it said the talks with commercial bank creditors on realisation of the second phase of yugoslavias multi year debt refinancing will follow in april this year
the bank of tokyo ltd is issuing 100 mln swiss francs of convertible notes due september 30 1992 paying an indicated 1 1 4 pct lead manager swiss bank corp said
brazil industrial production slowed in january
it said there are now 3002500 common shares outstanding with a quoted price of about 7 8 bid compared to 150125000 shares outstanding prior to the split
although the amount of money saved from moving away from the long bonds was not disclosed bond experts believe it was considerable because of the much lower interest premiums paid on short term debt
the survey also showed that 23 pct of the polled companies consider current order books to be above normal while 58 pct view them as normal and only 19 pct regard them as below normal
while gaf did not win the company it made a substantial gain on its investment in carbide
i would say that what has happened to the yen in the past several weeks was not outside the range we agreed to in the discussions in paris miyazawa said yesterday
cftc approves mge corn syrup futures contract
the imposition of new taxes would tend to rekindle inflation and certainly would not make us more competitive in international markets heller said
weve seen no real movement from bonds to stocks among our funds said george collins president of t
ames said most of the decline resulted from an inventory shortage at its secaucus nj distribution center
the hunt group said it has told comdata that it considers required payments under the plan such as a 15 mln dlr fee and the issuance of a warrant to buy 500000 common shares to be a waste of the companys assets
the post detente embargoes have taught the ussr to limit its trading with the us he said
the information ministry communique said febres cordero made these statments to reporters at lago agrio at the heart of ecuadors region of jungle oilfields before returning to quito
in a speech prepared for delivery to the annual meeting of the iadb baker said we are making progress in negotiating reforms and he added that if succesful washington would be ready to put up an additional nine billion dlrs to the seventh iadb four year capital replenishment an increase of 75 pct
zack said ibps proposal included elimination of a two tier wage structure a 60 cent an hour wage cut for slaughterers and a 45 cent an hour wage reduction for processors
the bank of japan was reported in the market overnight to bolster the credibility of the paris accord following several days of pressure against the dollar
there were 552500 additional shares outstanding
he gave no further details
buitoni is controlled by cir compagnie industriali riunite an investment company itself controlled by ing c olivetti ec spa olivmi chairman carlo de benedetti
metallgesellschafts share will remain at 40 pct
a major tax payment period by banks on behalf of customers payments for the federal railways loan stock and repayments of mark liabilities incurred by foreign central banks with the bundesbank in the framework of the european monetary system ems are likely to significantly burden the system
traders said the soviet union might be looking to buy more sugar in the near term possibly towards an overall requirement this year of around two mln tonnes
hongkong and shanghai banking corp and standard chartered bank raised their prime rate one half point to 65 pct effective tuesday the association of banks said
as recession hit the middle east and the need for trade finance in the region declined many offshore banks in bahrain ran down their currency operations
bird forecast higher economic growth after 1990 and increased imports by less developed countries
singapore will have an inflation rate of one pct in 1987 up from a negative 14 pct in 1986 trade and industry minister lee hsien loong told parliament
qtly div eight cts vs eight cts prior pay april 30 record april 16
haggard said he does not know what chances the asa backed proposals have but said in all honesty we do not want to see the farm bill be torn apart he said if usda feels it cannot withdraw its opposition to a market loan there are still numerous ways the usda could change the loan without new legislation
indonesias raw sugar output is likely to be 18 mln tonnes in calendar 1987 unchanged from 1986 and below the governments 1987 forecast of 25 mln the us embassy said in its agricultural outlook for 1987
another merchant banker said that a flurry of japanese acquisition activity was originally expected five years from now but that time span appeared now to be too long
intl minerals project to boost hog lean weight
a us attack on an iranian oil platform in the gulf on monday appeared to be a tit for tat raid carefully orchestrated not to be too provocative or upset arab allies western diplomats in the region said
german june cost of living 02 pct above year ago may rise 02 pct official
noble broadcast group to sell debentures
transportation agency gives final okay for us air pacific southwest acquisition
under the terms of the accord the banks will receive a security interest of nearly all the companys assets excluding inventory
scientific measurement systems inc scms net
he told a news conference on 1986 results that branches in hamburg and schleswig holstein would be merged or closed a branch in frankfurt opened and that the bank was considering opening a branch in london
enterra corp en sells two units
the ministry said citibank which chairs mexicos bank advisory committee has received cables from the british banks confirming said commitment the ministry said the books on the package would be closed by mid april and the first 35 billion dlrs of the new money should arrive by the end of the month
the company earned 1021 mln dlrs in first quarter 1986 and 4107 mln dlrs for the whole of the year
much of mpts new prominence stems from the growth of the sector it regulates
it added temporary reserves indirectly on monday via two billion dlrs of customer repurchase agreements and then supplied reserves directly via system repurchases on tuesday and wednesday
the agreement would also have limited its ability to buy sgl shares dart said
dividends declared today are payable april three may six june four july three and august six to holders of record march 23 april 17 may 15 june 12 and july 17
gary associates made no mention of a possible takeover attempt in its report to the sec
in a statement following the release of its 1986 results it stated that the current year had started well
commenting on the recent ferry disaster in the north sea off zeebrugge the statement said the precise cause is unknown
some us bankers argued that regardless of politics the rich menu of options in the argentine package makes it attractive enough to justify a 13 16 pct rescheduling rate
the semiconductor industry produces microprocessor chips which are used in high technology products ranging from radios to defence missile guidance systems
datacard corp said it adopted a dividend rights plan in response to deluxe check printers inc dlx having agreed to sell its 38 pct interest in datacard to national computer systems inc nlcso datacard declared a dividend distribution of one preferred stock purchase right on each outstanding share its common stock
in a letter sent yesterday postal minister shunjiro karasawa told us commerce secretary malcolm baldrige that the ministry does not object to foreign participation by those us firms that have expressed interest
new measures are planned to combat vat avoidance he added
the facility will be available for 70 days and interest will be at 1 1 4 pct over the london interbank offered rate libor there will be a commitment fee of 50 basis points
atpc executive director victor siaahan told he received a telex from zaire indicating its willingess to take part in the plan to limit total atpc exports to 96000 tonnes for a year from march 1
they are particularly dismayed by the rapid deterioration in us exports of sophisticated computer technology
warner
cash flows to the government are expected to more than offset cash injections it added
spains trade deficit narrowed to 581 mln dlrs compared with 664 mln dlrs in january but the large increase in non oil imports contributed to the substantial increase over the 159 mln dlr deficit registered in february 1986
tenders will be received next week for 250 billion dlrs of 91 day bills 140 billion dlrs of 182 day bills and 500 mln dlrs of 364 day bills
the merger took place in december and western has been operated as a delta subsidiary since then
austin a design engineering and construction firm said in a statement that it and kawasaki would bid for support facility work worth 200 250 mln dlrs
republic also has substantial debt and has left wall street questioning whether financing can be completed for the much larger american medical takeover proposal
in a statement issued after that meeting ec foreign ministers deplored japans continued trade imbalance and appealed for a greater japanese effort to open up its markets
interest rates are not coming down and i would not bet a lot that they will drop sharply he added i personally think interest rates may decline by 50 basis points at the most this year zuckerman said the 405 mln dlr bond sale was composed of 139 separate issues
smith and nephew issues convertible eurobond
australian unemployment eases in february
the fact that us sales will account for a larger percentage of overall sales this year than before does not pose problems for profit the porsche board said
miyazawa sees eventual lower us trade deficit
they were so startled they wanted to hold back and see what would happen the drop in sales of new single family home sales was sharper than expected some economists said
payments for 1987 90 feedgrains crops would not be changed
west german unemployment unadjusted for seasonal factors fell to 241 mln in march from 249 mln in february the federal labour office said
claremont group ltd a new york investment banking firm said it intends to boost its current 10 pct stake in champion products inc to as much as 15 pct of the total outstanding common stock
abbott reported 1987 first quarter earnings rose to a record 142 mln dlrs or 62 cts a share on record sales of one billion dlrs
the takeover announcement came soon after csrs earlier reported statement that it will sell its delhi petroleum pty ltd unit to an exxon corp xon unit for 985 mln dlrs and not proceed with the previously announced float of part of delhi
a minimum of 200 warrants must be exercised
he said the company involved employed 4000 people but declined to name the takeover price or say what field the firm operated in
since january the press has devoted much attention to grain stressing that growth in output is vital to chinas economic and political stability and that prices paid to farmers are too low
ibc president to attend managua coffee meeting
total value of the sale is about 9772 mln dlrs transworld said
cereals farmers would have to achieve their output cuts by reducing acreage while cattle farmers would reduce their number of head and vinegrowers would cut yield
salomon brothers henry kaufman said the bond market highly sensitized to dollar movements could be encouraged if currency markets seem to be stabilizing or if us and overseas economic growth is perceived as slowing sharply
under the proposal banks would sell the dollar denominated pins at a discount to multinational firms which would convert them into pesos at face value to fund government approved equity investments in the philippines
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
such an approach would finance the trade deficit but allow for its gradual resolution over time
cash distribution 42621 cts vs 32384 cts prior pay april 14 record march 31 note companys full name is san juan basin royalty trust
the kuwaiti dinar is currently linked to a basket of currencies while the other five currencies are either officially or in practice linked to the us dollar
it paid total dividends of 130 dlrs per share last year equal to 26 cents per share adjusting for the bonus and share split
the figures initially boosted the share price to 286p from 281p last night but they then eased back to 283p by 0830 gmt
however the holders of the bonds presumably will be faced with lower yields
it also said morgan guaranty trust co was the fiscal agent and paying agent and that morgan euro clear and cedel another major clearing system and police in london and brussels were investigating the case
bywater in his statement said he backed a defense science board task force proposal to set up a consortium to develop new electronic products and manufacturing processes and make the us industory more competitive
dealers said the large banks which they did not name commanded short term money requirements of as much as five billion marks or so
but asked whether a bridge loan might be arranged to pay the interest he said it could happen bankers said this possibility had not been raised at the committee meeting and dismissed it as inconsistent with brazils determination to find a long term solution to the problem of servicing its 110 billion dlr foreign debt
one source at a house involved in the deal said its got to be a blow out
the figure which excludes construction and public works put the january index base 1980 at 99 after 101 in december
the two countries signed a pact last september in which japan agreed to stop selling its microchips in the united states and other countries below production costs and to allow the us semiconductor industry access to the japanese market
hu said these obstacles have been resolved and regular issues of government securities will be made initially carrying terms of up to five years and market related yields
the company said at the time of the acquisition its assets will include only lithium and ferrosilicon operations
shr 17 cts vs seven cts net 4678000 vs 1856000 revs 1105 mln vs 617 mln avg shrs 270 mln vs 250 mln
d exporter holds option to fill commitment with supplies from origins other than us e accumulated exports since season began based on data reported by exporters
bank of japan governor satoshi sumita said the central bank has no intention of cutting its discount rate again as a way of preventing the yens rise
moodys investors service inc said it downgraded bankamerica corp and the unit bankamerica overseas finance corp but affirmed ratings of the units bank of america nt and sa seafirst corp and seattle first national bank
despite the hughes statement that it is interested in a merger and bakers response that a merger is still possibile analysts said no one could be certain where the situation was going
a primagas spokesman said mobil will take the stake by means of a capital increase terms of which have not yet been established
he said he intends to further extend the offer if the approval process is not completed by the expiration date
president john bohn told a house appropriations subcommittee hearing commercial banks have largely withdrawn from financing exports and export projects were becoming smaller
taiwan steel firm sees lower exports more output
the report said the reduction in iraqi air attacks on iranian export facilities allowed irans output to reach 22 mln bpd in january but buyer resistance to fixed prices apparently cut february production
victory markets inc is raising 60 mln dlrs through an offering of subordinated debentures due 1999 with a 12 1 2 pct coupon and par pricing said sole underwriter drexel burnham lambert inc
instead merchant banks advising bidding companies must show restraint and responsibility to avoid the excesses that have marred recent takeovers he told the yorkshire and humberside regional confederation of british industries annual dinner
this includes eliminating existing restrictions in the ec as far as possible
shr primary 28 cts vs 22 cts shr diluted 26 cts vs 21 cts net 8637000 vs 6577000 sales 1403 mln vs 1168 mln year shr primary 92 cts vs 77 cts shr diluted 88 cts vs 75 cts net 283 mln vs 231 mln sales 5884 mln vs 479 mln
italian wholesale prices up 11 pct in january
we appreciate his management but certainly some practices have to be corrected
clancy currently serves on the exchange board of managers as chairman of its appeals executive pension and political action committees
operators offered a total of 854000 tonnes of sugar into intervention last month to protest at rebates which they said were too low
the annual meeting is to be held in akron ohio
i hope the debate is still open if not there will be a formidable hole in the budget he said
donegal dgic projects full year results
these were programmes they thought were necessary to stabilise market conditions and to help themselves attain better pricing conditions nazer said
separate import and export figures were not given
the updated calculations which may take several months to complete are expected to show substantial increases in us subsidy levels for sugar because the us imposed restrictive import quotas in 1982 as aid to the domestic industry
but brito said that the storage capacity was badly distributed
in a filing with the securities and exchange commission young which yesterday withdrew its 23 dlr a share takeover proposal said its other group member sdi partners ltd partnership sold 18300 sorg common shares between june 16 and 18 at 17 1 2 to 19 dlrs each
crude futures could jump above 19 dlrs a barrel but will not remain there long if products are not strong robert murphy account executive at ef hutton said
great atlantic and pacific tea co said it withdrew its offer to buy delchamps inc
in the past they just spent and never realized the return on the outlays they did make she said
he did say if he succeeds in acquiring american medical he plans to keep much of american medical management in place
preston corp ptrk sees first quarter loss
depending on time required for regulatory approvals construction could begin in 1989 with first oil production as early as 1991 petro canada said
french industrial production fell 095 pct in july august from june insee data
publishers equipment pecn trentonian in deal
about 950 mln dlrs of long term debt is outstanding
on chinas import potential he said a foreign exchange shortage would force china to import less this year and next than in the past with an emphasis on technological equipment and capital
the company said maple leaf had 1986 sales of 819 mln dlrs and an after tax profit of 163 mln dlrs
france has sold between 50000 to 100000 tonnes of wheat flour to china the director general of frances cereal intervention board onic bernard vieux said
ultrasystems inc uls 4th qtr net
zimmerman said the canadian forest industry council plans to discuss concerns about the us trade bill with lobby groups from other canadian resource industries
national distillers sold its wine business last month to grand metropolitan plcs heublein inc for 128 mln dlrs
we will be a lot more expeditious in processing the requests of banks that have supported us gurria said adding we have long memories debt equity conversions are an attractive way for banks to provide clients with subsidized pesos for investment in mexico and to collect handsome brokerage fees or reduce their own mexican exposure in the process
he said the decline in interest rates since president reagan took office remains one of the significant accomplishments in the economic area of this administration
braatz expects blocks advertising budget to be about the same as last year which will be helped a bit by lower costs for television ads
the 10 mln shares on offer are expected to bring a cash call in germany for well over two billion marks
rugby portland cement plc rbyll said it was well placed to operate in the new circumstances following the ending in february of the 53 year old cement manufacturers common price and marketing arrangements
multi tiered financings are a relatively new wrinkle on wall street
shr 33 cts vs 26 cts net 489351 vs 430143 revs 6961091 vs 6009026 avg shrs 15 mln vs 16 mln
cnw cnw sells bonds
one success of the paris agreement in february to foster currency stability was that us officials have stopped talking down the dollar he noted
bethlehem also said that in response to changing market conditions and potential inflationary pressures efforts will be made to mininize the number and the duration of firm price contracts
holders will get a dividend of one preferred share purchase right on each outstanding share of common stock
asked what he thought etls bid sought to achieve herbert said im puzzled as to what hawkins strategy is
keltic inc year net
brooklyn union the fourth largest gas utility in the united states purchased 36 pct of its supplies on the spot or non contract market in 1986 and the proportion of spot supplies was estimated much higher in the five months of 1987 analysts said
bp australia reports 1615 mln dlr year loss
bank of montreal is confident a solution will be found to brazils foreign debt problem and is not considering declaring its brazilian loans non performing president grant reuber said
microsemi mscco acquires hybrid components
the borrower then issues additional notes in this category up to a pre determined maximum
percentage increases were not immediately available
sara lee corp said it agreed to buy a 34 pct interest in paris based dim sa a subsidiary of bic sa at a cost of about 84 mln dlrs
they said the below six pct federal funds rate suggests the fed does not have a large reserve adding need
the sources said payment levels have not yet been fixed but will be designed to compensate farmers for loss of profit on the production they forego
closing is expected to take place in early april and the venture is to be called champlin refining co
hovnanian enterprises hov splits stock
in making the offer for usair icahn threatened to go directly to shareholders for 51 pct of the stock at a lower price if usair rejected his offer
the post and telecommunications ministry has urged the merger of the two firms because it says the market can only support a single kdd competitor
in that case the excesses as we have today cannot be very popular the senior dealer said
he said the trade problem underscored the need to reform the us educational system to improve economic performance
hughes supply inc hug sets quarterly
citibank lowers australian prime rate to 16 pct
minister of state for finance tom hockin said in the house of commons today he was delighted with the banks cut in its credit card rate
tanker loading at the suez mediterranean arab petroleum pipelines co in sedi kerir southwest of here stopped and officials said five tankers were at anchorage awaiting improved weather
jay cooper said
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
the majority of the companys total energy production is in the united kingdom indonesia and pakistan
in a statemnet a
us bank net free reserves 447 mln dlrs in two weeks to april 8
this weeks estimated arrivals total 274000 tonnes of which 71000 are grains oilseeds and 203000 derivatives
about 91 pct of them have already done so but it may take some more time before all have confirmed their intentions the sources added
drum ny site is expected to begin later this month and is scheduled for completion by early 1991 the company said
advanced genetic sciences agsi year loss
debt servicing took up 40 pct of the budget and 45 pct of export earnings aquino said
the pound rose to 15870 dlrs from 15764 yesterday and 15400 february 23 the day after the paris meeting
however they said lawson would be prepared to see the pound go higher at least in the short term despite the risk of a loss of export competitiveness and cheaper prices on imports
a specially convened franco german meeting in the sidelines of a summit of ec leaders failed to make any progress over a 1987 88 farm price package that has deeply split the two former ec allies diplomats said the meeting was attended by farm ministers and foreign ministers from both countries and by french president francois mitterand his prime minister jacques chirac and by chancellor helmut kohl of west germany
bank of japan to sell 500 billion yen in bills
usacafes lp said its board declared a quarterly dividend of 20 cts per unit its first since converting to a limited partnership
the 155 mln to 16 mln bags sold to members would be around the figure brazil had offered to ship if ico quotas were reintroduced although dauster has said this offer expired with the breakdown of talks
telecom said in a statement that it will offer 125 pct march 1990 bonds and 130 pct february 1993 stock
qtly div 125 cts vs nil pay april 3 record march 16 note in quarters preceeding 4th qtr dividend was 29 cts
german 1988 tax cuts raised by 52 billion marks
salomon said the principal paying agent for the cds would be bankers trust co
a shareholder group led by new york investor theodore cross said in a securities and exchange commission filing that it boosted its stake in frost and sullivan inc common stock to 208800 shares or 137 pct of the total outstanding
shr loss six cts vs profit two cts net loss 463473 vs profit 126835 revs 3506066 vs 3082499 year shr loss four cts vs profit three cts net loss 323214 vs profit 187893 revs 138 mln vs 108 mln
the rush to compete for high octane gasoline market share has been spurred by expectations that the government will lift gasoline production quotas and restrictions on gasoline station construction in the next two to three years
first of america has assets of more than 79 billion dlrs
clabir clg unit agres to buy popsicle canada
commerce secretary malcolm baldrige predicted 1987 will be the fifth successive year for growth in housing starts after a 26 pct rise overall in february starts to a seasonally adjusted annual rate of 1851 mln units
the option is not exercisable until april 12 1988 it said
dealers pointed to the recent caisse daide a lequipement des collectivites locales caecl 890 pct two billion franc bond with warrants exchangeable for floating rate bonds issued over 13 years and 80 days at 9704 pct with payment date march 9 which was today quoted at 090 to 110 pct
us dealers will be attracted particularly to europe where the market will expand faster than the us he says
moodys investors service inc said it may downgrade the ratings of ecolab incs 25 mln dlrs of debt and upgrade chemlawn corps 15 mln dlrs of debt
what will come out of it remains for the negotiators in the first instance to propose and then governments and congresses will have judge he said
they said the revenues of the combined companies will be over 600 mln dlrs and dixie said the merger will not dilute its 1987 results
terms of peschs offer have not been disclosed
merrill lynch capital markets and wood gundy will be lead underwriters for to the public offering
turkey lifts survey ship escort as tension abates
ireland issues 300 mln mark eurobond
a strategy had to be designed that helped the safeguarding of non inflationary economic growth in an international monetary system largely free of disruptions koehler said
thai smelter faces tin concentrate supply shortage
the issue is non callable for five years
the state owned national milling corp nmc meanwhile said it is trying to sell 190742 tonnes of maize stored in different parts of the country
euratom is issuing a 145 mln ecu eurobond due april 24 1997 paying 7 3 8 pct and priced at 101 1 8 pct lead manager banque paribas capital markets said
it said the french company publishes original titles by french authors as well as translations of american british and german medical books
the spokesman was responding to a statement by turkish foreign ministry spokesman yalim eralp that ankara would take action to stop greeces oil activities beyond its territorial waters as they were a violation of the 1976 berne accord
on the supply demand front the market continues to enjoy a degree of stability rarely seen in recent years it said
in an interview with the globo television network transmitted from rome funaro said the reception by representatives of creditor countries with whom he met along the week was always to seek new ways
shr 269 cts vs 251 cts fin div 80 pct gross vs 80 pct group net 1061 mln dlrs vs 990 mln note fin div pay may 25 record april 18
it is possible that final data will show a larger draw particulary for march it said
assets used to secure the debt included auto loans credit cars computer leases and corporate loans s and p noted
spk said kampuchea planned to expand planting from 15 mln to 193 mln hectares and boost rice paddy output to 25 mln tonnes this calendar year
the borrower is the wholesale financing arm of a major group of credit unions in the province of quebec
canada 7 year bonds average 797 pct yield
fianna fail won 81 of the 166 seats in the february 17 poll
near july traded at its session low of 1327 stg after one hour versus 1333 bid last night and an early high of 1335
the government confirmed this year it had stopped sbending copper south through south africa
petrie stores corp pst regular payout
tehran radio quoted defence spokesman ali akbar hashemi rafsanjani telling a visiting nicaraguan delegation yesterday at the moment the united states is moving towards the brink of an armed encounter with us
the shanghai official said prices must be reformed over the long term
under terms of the agreement santa ana calif based meridian said it will pay columbus based american dynamics one mln dlrs in cash and notes over five years and about 500000 shares of its common stock
but many economists say the system which holds eight european community currencies within narrow fluctuation bands remains in its infancy
the sale of the units is part of the banks worldwide restructuring plan
the charge will be made against the allowance for possible loan losses and the writedown is of other real estate
it said the costs including moving expenses severance pay and future lease payments
kuwaiti oil minister sheikh ali al khalifa al sabah said in a newspaper interview that no opec member was exceeding oil production quotas allocated by the 13 nation group
gen term corp acquires private firm
hernandez grisanti said he understood ecuador would formally submit the request for a higher quota at the next ministerial conference of the organization of petroleum exporting countries opec opening december 9 in vienna
tylan corp tyln to sell furnace product line
standard oil co said british petroleum co plcs proposed offer of 70 dlrs a share for the 45 pct of standards stock not held by bp is being referred to a special committee of the companys board
the decline in parent company turnover was balanced out by increased capacity use and price declines in raw materials
the company said the dividend is payable march 31 to holders of record march 17
he said middle souths net income is expected to post modest growth over the next three years
the icco council is due to elect a new executive director when it reconvenes friday producer delegates said
nor did it specify if the sources were official or other contacts
cable news network is owned by turner broadcasting system tbs material from subscription servoces would be limited to an average of about one minute in a half hour program nbc said
the philippines as a trading country in the world economy depends on the continued health and growth of both the world economy and the world trading system she said
ecuadors deputy energy minister fernando santos alvite said last wednesday his debt burdened country wanted opec to assign a lower official price for its crude and was to seek this at talks this month of opecs pricing committee
brazil is not happy with the existing structure of the 14 bank advisory committee which coordinates its commercial bank debt finance minister dilson funaro said
qtly div three cts vs three cts prior pay may one record april eight
he said evergo was attracted by the underlying strength of hk hotels analysts said evergo may be looking for a possible redevelopment of the peninsula hotel one of asias best known hotels and another site on hong kong island
like standard zinc which was superseded by a high grade contract gob aluminium will probably be replaced although the process in this case may take longer they added
the periods were essentially steady at 5 7 8 5 8 pct for one month 6 1 2 3 8 pct for three and 6 7 8 11 16 for six months
oper shr 30 cts vs 26 cts oper net 2360000 vs 2018000 revs 744 mln vs 701 mln nine mths oper shr 92 cts vs 92 cts oper net 7101000 vs 7116000 revs 2188 mln vs 2092 mln note earnings exclude a gain from utilization of tax loss carryforwards of 978000 dlrs or 13 cts a share vs a loss of 4967000 dlrs or 66 cts a share in the quarter and gains of 2895000 dlrs or 37 cts a share vs 4944000 dlrs or 64 cts a share in the nine months 1986 earnings exclude losses from discontinued operations of 9000000 dlrs or 119 dlrs a share in the quarter and 387000 dlrs or five cts a share in the nine months
transamerica a privately held company that has been in bankruptcy since 1983 said its suit alleges that coastal and its chairman oscar s
the move will enable the exchange to concentrate on the cash settled contracts introduced last year
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
southwest said a commitment to reduce the interest rate and extend the houston loan for one year has been accepted
fumio watanabe a senior keidanren a leading business organization official who has been trying to arrange the merger will present a new outline of his proposal on thursday the ministry official said
leclerc said alcan decided it would cost too much to modernize the plant
citing increasing financial strength s and p said it affirmed the debt ratings of citicorp cci bankers trust new york corp bt bank of boston corp bkb and jp morgan and co inc jpm s and p noted that most us bank holding companies have what it termed easily realizable capital resources available to them such as undervalued real estate appreciated portfolio securities and overfunded pension plans
it was built to allow ecuador to resume exports of crude oil halted on march 5 by earthquake damage to its lago agrio to balao pipeline once that pipeline is repaired ecuador will exceed its opec quota in order to offset lost income and pay debts contracted with venezuela and nigeria since the quake ecuador mines and energy minister javier espinosa said
he said this could bring about what he called a possible automatic capitalisation of those parts of debt interest that could not be paid and even the elimination of a portion of the debt
klm already active in the fast growing door to door delivery market through a 50 pct stake in a dutch courier service is seeking to buy one third of iml air services group ltd from british and commonwealth
the charges on cargo handled by union workers will be reduced to 285 dlrs a ton from 585 dlrs a ton effective april one according to the agreement between the union and shippers
sterling drug sty sells assets of subsidiary
the department which makes cryogenic equipment will continue operating at its present location in allentown pa the company said
today citicorp said its first quarter income would be reduced by 50 mln dlrs after tax if it lists the loans as non performing status
he said the tire business which the group wants to keep may be more viable if merged with another tire company
it also said it would propose to acquire all of its 20 mln dlrs worth of outstanding 10 pct convertible subordinated debentures for an aggregate of approximately 154 mln dlrs and propose liquidation of the company with shareholders receiving an estimated 54 cts a share
a new market has emerged in warrants to buy gold a vehicle which bankers say brings some of the play of commodity options into the field of securities
the treasury said it received 249 billion dlrs of bids for the three month bills including 10 billion dlrs in non competitive bids from the public
four seasons hotels inc year net
rep
millen specializes in jewish religious cards and also sells traditional greeting cards
i recognise that the strong yen has brought problems to japans domestic economy he told a group of japanese businessmen in london
the political clock is ticking towards presidential elections due by april next year
ariadne with about one billion dlrs in assets and turnover of about two billion has interests also in mining real estate and agricultural products
under agas offer shareholders can either accept a cash bid or exchange one share in duffour et igon for one bond of a nominal value of 4410 francs with a 10 pct coupon issue by aga france sa
most managers said they were planning a low issue volume for the bundesbanks two week bond calendar beginning today
1985 net includes 788000 credit
the risk of iranian attack on us warships or kuwaiti oil tankers carrying the us flag and under naval escort is rated by diplomats as low
and w
this should be matter of priority for the executive board he said
mim intends to take preussag ags total 20 pct share in the copper producer in exchange for some three pct of mims share capital
eastman kodak co is issuing a 200 mln australian dlr zero coupon bond due may 12 1992 and priced at 54 3 8 for an effecitve yield of 1352 pct said merrill lynch capital markets as lead manager
us sept housing starts rose 44 pct to 1669 mln permits fell 06 pct to 1493 mln
funaro explained that brazils suggestion is part of its demands before the need to renew the mechanisms of loans in the world he said that the current negotiating process is very complex and complicated mentioning cases of countries which had to wait some 10 months before getting a reply from creditors
usairs a rated senior debt is already on s p watch for possible downgrade
the greek statement today said greece is not prepared to give up even a trace of its sovereignty rights to the seabed
although its lender has not enforced its right to demand payment of the debt in full it continues to reserve its right to do so at any time it said
transcanada said the offer is to dome management not to shareholders
colombia to maintain foreign borrowing levels
marcade group inc mar 1st qtr may 2 net
they noted the purchases of 8000 tonnes in the first week he bought and 13000 in the second are well short of the limitations of no more than 5000 tonnes in one day and 20000 in one week which the cocoa agreement places on him
buffton buff to post investigation charge
the effects of the measures we have taken and are taking are emerging in the market place he said
the sources said key lawmakers including reps
the possibility of an expansion of eep to include wheat to moscow has been rumored for some time and some industry sources believe a decision on the issue will be made by the reagan administration before secretary of state george shultz goes to moscow in april
the issue will be immediately swapped into swiss francs putting actual interest rates at around four pct a tokyo government spokeswoman said
sen
a statement said the acquisition would fit perfectly into its package for the banking and securities industries
the dilemma for china in foreign borrowing as in other areas is to balance central control with giving reasonable autonomy to firms
last march dome suspended payment of dividends on all preferred shares until june 1 1987
the company said its agreement with operator conoco hurghada inc and hispanoil covered the 168374 acre east hurghada offshore concession
ranger oil ltd said its previously reported public 75 mln us convertible debenture to be placed in the european market would mature april 28 2002 bear yearly interest of 6 1 2 pct and have a six us dlr a share conversion price
volcker sees dollar as factor in monetary policy
bankers said the request is a legal nicety since the money is subject to the moratorium
market reaction was also due he said to the drop in the value of the dollar although trade issues did have some effect
in a filing with the securities and exchange commission the group said it bought 68000 nash finch common shares between april 7 and june 17
belgian wholesale prices fall in january
finally the fed said that the m 1 money supply fell 800 mln dlrs in february with the broader m 2 measure down 16 billion dlrs and m 3 up an even three billion dlrs
sterling in any shape or form is flavor of the month and were set to see many more eurosterling deals one dealer said
computers made by us manufacturers are widely used in the world but tokyo told us negotiators recently it prefers local manufacturers and would not buy us supercomputers
for the nine months the company posted a profit of 2444 mln dlrs or 178 dlrs a share compared with a profit of 2197 mln dlrs or 160 dlrs a share for the year ago period
bourse dealers say the fall in value of fiat stock over the last six months partly reflects selling by foreign operators of shares acquired as a result of the 21 billion dlr equity offer after libya sold its minority stake last september
citibank raised its prime rate by one quarter of a point and the move was followed by other banks
these include the reduction in the top marginal crude excise rate on old bass strait oil found before september 1975 to 80 pct from 87 pct and the waiver of excise on onshore oil announced last september he said
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
the organisations latest half yearly report says gross domestic product will grow by 25 pct this year and by 275 pct in 1988 compared with only 14 pct in 1986
the bond guaranteed by parent general motors acceptance corp is available in denominations of 1000 and 10000 dlrs and will be listed in luxembourg
pretax margins slipped to 125 pct in 1987 from 181 pct in 1986 it said
the company has scaled back its sales forecast to about 25 mln dlrs from the 335 mln dlrs projected in december
the strike is over deadlocked wage negotiations
m 3 rose to a revised 8238 billion rand in april from a preliminary 8217 billion and marchs revised 8139 billion
business and health services showed the largest gains in jobs while manufacturing employment fell by 25000
comerica cmca raises prime rate
a companion 150 mln dlr offering of 30 year bonds was given an 8 3 8 pct coupon and was priced at 99875 to yield 8386 pct or 825 basis points over treasuries
the coupon on the bank of tokyo ltds 100 mln swiss franc convertible has been cut to 7 8 pct from the indicated 1 1 4 pct lead manager swiss bank corp said
s africa mine managers face charges in disaster
banca della svizzera italiana biszz said it expected business to be good again this year after 1986s 152 pct increase in net profit to 42 mln swiss francs
cotton season begins august 1
japanese shipbuilders have applied to the states fair trade commission to form a cartel to restrict tonnage built to about half of total capacity for the year starting april 1 officials of the shipbuilders association of japan said
shr 38 cts vs 47 cts net 2253664 vs 2806820 gross income 5173318 vs 5873904 note net includes gains on sale of real estate of 126117 dlrs vs 29812 dlrs
irans top war spokesman ali akbar hashemi rafsanjani on tuesday called the us attacks on two of its gulf oil platforms an escalation and promised retaliation
american express earlier said it has a general understanding with nippon life insurance co of japan to sell a 13 pct interest in shearson for 530 mln dlrs
the 1986 wine exports were valued at 347 mln dlrs up from 276 mln dlrs the previous year
the radio said the grain would be delivered soon but gave no details about the value of the sales
redstone said his group would contribute more than 475 mln dlrs in equity toward the takeover
construction employment rose a slim 2000 in february
uk court rules against rtz on oil field costs
further details were not disclosed
among other items in the document the bank said its first auction will consist of up to 125 billion stg in conventional short dated stock and have a maturity of seven years or less
marion laboratories incs stock rose sharply today after the company presented a bullish earnings scenario at a meeting for pharmaceutical analysts monday traders and analysts said
moodys investors service inc said it may downgrade about 65 mln dlrs of frank b
the philippines has reached agreement with its bank advisory committee on a debt rescheduling agreement after four weeks of talks a source close to the philippine delegation said
zimmerman said the adverse impact from lower us lumber product prices would be felt by lumber mills in eastern canada first migrating westward
there are about 6500 fitness clubs in the us excluding clubs run by not for profit organizations according to the association of physical fitness centers who estimates it to be an 80 billion dlr a year industry
irna monitored in nicosia quoted oil minister gholamreza aqazadeh as saying on his return to tehran from moscow that the agreement was part of a protocol on economic cooperation signed during his visit
oecd sees 15 pct west german real gnp growth in 1987
it should use foreign funds for production and construction with stress on firms making goods for export or import substitutes
we are implementing the agreement in good faith and the situation does not run counter to the pact osamu watanabe director of the ministry of international trade and industrys miti americas and oceanic division told foreign reporters
restaurant associates inc ra 4th qtr jan 3
hong kong economic journal also noted stock market rumours that neptunia corp a hong kong registered company which controlled by san miguels president andres soriano is the other party keen on the block of san miguel shares
yesterdays bankruptcy court ruling affirmed coastals rights as a transamerican creditor to file a reorganization plan for transamerican
lloyds bank canada a unit of lloyds bank international plc said net profit soared to 3053000 dlrs for the first quarter ended january 31 from 9000 dlrs a year earlier
rah said most of the purchases represented shifts from japanese firms to us firms as part of south koreas effort to reduce its seven billion dlr trade surplus with the united states
the company said details were not disclosed
synthetech inc said it discontinued negotiations on acquiring southwest photo chem inc of pomona calif
the commission has yet to decide whether the maize will come in through direct purchases by the spanish intervention board or by a tender system
usda corrects turkey credit announcement
security pacific overseas finance nv s debt issues were reduced to aa from aa plus
the fund said 575 mln dlrs will be available immediately under the saf and a separate financing arrangement
among the best performers was steel company sidor which earned 1019 billion bolivars the first time since 1978 sidor turned a profit
bear stearns and co is expected to act as dealer manager for the offer it said
according to the departments export sales report covering transactions in the week ended february 26 china has outstanding wheat commitments for the 1986 87 season of 30000 tonnes and 420000 tonnes for delivery in the 1987 88 season
in its world production and trade report the department said in the past seven weeks reported us corn sales of nearly three mln tonnes to japan are about three times the level during this period last year
some 7000 black workers returned to work after staging one day strikes at two mines on monday the national union of mineworkers and the companies that own the mines said
this is first dividend declared since company completed its initial public offering on november 7
in japan cable is battling against proposals to merge a consortium in which it has a 20 pct stake with another group seeking telecommunications contracts
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 profit three cts vs loss seven cts net profit 161000 vs loss 367000 revs 243 mln vs 265 mln
for a one year extension of the maturity an extra 1 8 point margin will be paid with a further 1 8 point if the maturity is lengthened for the optional second year
but at the same time worries about the international debt crisis would mean there was little chance of a rise above 6 3 4 pct since this would increase loan costs to the third world
commodity prices are already considered by the fed in the making of monetary policy
traders said furman selz also boosted its earnings estimates expecting reynolds metals to earn 410 dlr a share in 1987 and eight dlrs a share in 1988
roy f
qtly div 11 cts vs 11 cts prior pay june 15 record may 15
they said foreign exchange constraints and national policy would not allow a return to large scale imports which peaked at 1615 mln tonnes in 1982
the company said the rights will expire on the later of february 17 next year or 60 days from the date they become exercisable
for the first half of 1986 the company said it restated earnings to 141000 dlrs or five cts per share from 340000 dlrs or 12 cts per share reported previously
the issues are aimed at helping curb the growth of m 1b money supply the result of large foreign exchange reserves now at more than 53 billion us dlrs
federal signal corp fss regular dividend
atlantic express inc 1st half dec 31 net
they need to show their commitment and their ability to finance
brazil recently stopped paying interest on its commercial bank debt
matters not on the agenda however can be brought before the council the officials said
qtly div 55 cts vs 55 cts prior pay april 27 record april one
weyerhaeuser reported 1986 earnings of 2767 mln dlrs or 191 dlrs per share on 565 billion dlrs in revenues
this was after taking into account inflation in consumer prices of 15 pct in 1985 slowing to 10 pct in 1986
the rise in non farm payrolls was the smallest since a decline last june of 75000 the department said
sulpetro ltd year oct 31 loss
while democrats and republicans praised the us retaliatory strike many voiced new fears about the growing us involvement in the gulf and some demanded that reagan comply with the war powers act
icn pharmaceuticals icn seeking acquisition
may gasoil futures were off 150 dlrs a tonne this morning while june was down 125 dlrs in thin conditions
duffour igon gives backing to aga takeover bid
the department noted the sales are the first reported for delivery during the fifth year of the agreement which began october 1 1987
net includes tax credits of 751000 dlrs vs 606000 dlrs in quarter and 1163000 dlrs vs 2289000 dlrs in year
usda again extends farm operating plan deadline
march redemptions fell six pct to 441 mln dlrs last month from 468 mln dlrs in march 1986
the importance of complementary changes in economic fundamentals was underlined yesterday when a change in interest rates boosted the dollar instantly achieving what the central banks had tried in vain to do for a week through open market intervention
the california combination of wells fargo and co wfc and crocker national corp last year was worth 11 billion dlrs and there have been several bank mergers in the southeast valued in the 700 800 mln dlr range
hecla hl to buy mine stake from bp bp unit
avatar holdings inc avtr year net
on the other hand major long term investors such as japanese insurance companies are not very enthusiastic about buying british securities ahead of the march 31 close of the japanese financial year traders said
unifirst corp unf sets quarterly
novamin inc said its board will recommend to shareholders the takeover offer made by breakwater resources ltd
matsunaga returned on sunday to report to japanese leaders on recent us developments over trade in preparation for nakasones visit to washington april 29 to may 5
officials said initiatives discussed here would be submitted to foreign and finance ministers of the 11 nations before imf and world bank annual meetings later this year
sunflower production is expected to total between 24 mln and 27 mln tonnes which would mean a drop of between 341 and 415 pct against the record 41 mln tonnes harvested in the 1985 86 harvest
the agency noted that usair has promised to give protective benefits to psa workers and that unions representing psa workers have collective bargaining agreements that provide such protections
the well initially tested at a maximum daily flow rate of two mln cubic feet of gas and 304 barrels of condensate
shr 71 cts vs 47 cts net 121 mln vs 78 mln revs 3698 mln vs 3079 mln 12 mths shr 235 dlrs vs 233 dlrs net 395 mln vs 39 mln revs 136 billion vs 124 billion note prior year restated to reflect results from current year acquisitions
brown disc products co inc a unit fo genevar enterprises inc said it has purchased the ongoing business trademarks and certain assets of rhone poulencs brown disc manufacturing unit for undisclosed terms
champion international corp based in stamford conn said it will expand its mill in hinton alberta at a cost of about 285 mln canadian dlrs
may two net shr 11 cts vs eight cts net 5895000 vs 3896000 sales 1273 mln vs 1105 mln note share adjusted for three for one stock split payable july 27 to holders of record july one
on friday this uncertainty helped push london cocoa futures down to eight month lows
frontier frtro buys malpractice business
sumitomo bank ltd sumit is certain to lose its status as japans most profitable bank as a result of its merger with the heiwa sogo bank financial analysts said
snow whipped by 48 kph winds continued to fall on istanbul and northwest anatolia after 36 hours and weather reports predicted no relief for another two days
with seven car assembly plants down this week including six at general motors corp gm us carmakers are expected to built an estimated 160111 cars for the week ending april 11 down from 177687 a year ago said the trade publication wards automotive reports
national medical enterprises inc said it filed a registration statement with the securities and exchange commission covering 300 mln dlrs of debt securities
alusuisse plans further aluminium capacity cuts
franklin resources inc ben qtly dividend
wallis who is attending a sub cabinet level bilateral trade meeting made the remark yesterday in talks with saito
america first mortgage sets special payout
indias credit policy package for fiscal 1987 88 april march will help ease inflationary pressures and control the growth of overall liqudity the reserve bank of india rbi said in a statement
standard and poors corp said it has upgraded approximately two billion dlrs of securities for the williams cos
3com corp coms 3rd qtr feb 28 net
the central bank issued 247 billion taiwan dlrs worth of certificates of deposit cds raising cd issues so far this year to 14193 billion a bank spokesman told 
shr 20 cts vs 16 cts net 973000 vs 775000 revs 128 mln vs 9678000
the company which has an agreement to merge with lomak petroleum inc lost 71 mln dlrs in 1986 against a loss of 88 mln dlrs a year earlier
they have an over allotment option to purchase an additional 1125 mln dlrs of the debt
us m 1 money supply rose 19 billion dlrs to a seasonally adjusted 7385 billion dlrs in the february 23 week the federal reserve said
he said at a news conference that any recommendation he would make would have to increase domestic production not cause widespread economic hardship and have a minimal cost to the us taxpayer
in february usair had offered to pay 71 dlrs per share in cash for 50 pct of piedmonts stock and 155 to 190 usair shares for each remaining piedmont share
sooner or later progress must be made in controlling excessive federal spending he said
it said it might add to its stake or sell some or all of it
the agreement took industry analysts by surprise largely because the companies had been such bitter rivals
despite the success of the talks over the past two days govenment sources said there had not been any discussions on new credits
fidelcor inc said it has acquired a substantial portion of the assets of bank of new england corps lazere financial corp subsidiary for undisclosed terms
the scarcity of beans because of the effects of drought on the current temporao harvest has pushed prices well above international levels the sources noted
brazil the largest cane producer with output of around 240 mln tonnes uses over half to produce alcohol fuel
the company said the split is subject to shareholder approval of an increase in authorized shares to 100 mln from 20 mln at the april 22 annual meeting
the two major bahrain based international banks arab banking corp and gulf international bank bsc have increased their presence in london and saudi banks are busy upgrading representative offices to branch status to allow dealing
henley group said in a 10 k filing with the securities and exchange commission that it has 79 mln shares or close to five pct of santa fe southern pacific corp a spokesman said
it added that the airline last year also saw aviation fuel prices fall to an average 459 dlrs a gallon from 676 dlrs in 1985
asbestec industries inc said it signed a letter of intent to buy asbestos abatement contractor pw stephens for three mln dlrs in cash stock and notes
soviet soymeal imports seen rising in 1987
such controls can also be exercised even if the stake held is below 25 pct if it can be considered a controlling interest
there is no known way to reproduce the wood or the millions of species within
bundey wmc said in a statement it said the open pit mine with a conventional leach treatment plant is expected to produce about 50000 ounces of gold in its first year of production from mid 1988
opinion here was divided on when the bundesbank would act
us m 1 money supply falls two billion dlrs
shr loss seven cts vs profit five cts net loss 149421 vs profit 103120 sales 1698345 vs 1920010 six mths shr loss five cts vs profit nine cts net loss 100472 vs profit 191614 sales 3836794 vs 3650322
cbi survey points to surge in uk output
tobacco accounted for about 50 pct of profit with a four pct gain to 764 mln stg and a two pct increase in world volume
seven tugs will attempt to refloat the south korean motor bulk carrier hyundai new world tonight lloyds shipping intelligence service said in its latest update
economists said that a build up in auto inventories resulting from a steep drop in sales has finally caught up with the labor force and may point to slower growth ahead
it said the filter products unit will be relocated from its plant in pennsylvania to a donaldson facility in illinois
deficit cuts seen unable to cure trade deficit
messidor said the acquisition is expected to be completed by june three
us agriculture undersecretary daniel amstutz said he was totally sympathetic with us wood producers desire to have their exports eligible for government credit guarantees
total factory production and consumption of tallow in the 1987 marketing season which began jan 1 vs the 1986 season were as follows in mln lbs production 1987 1986 inedible 8930 9201 edible 2083 2747 consumption inedible 4887 4737 edible 1371 1764
shr loss 173 cts vs 215 cts net loss 145 mln vs loss 180 mln revs 273 mln vs 237 mln year shr loss 58 cts vs loss 101 dlrs net loss 483 mln vs loss 842 mln revs 1117 mln vs 1419 mln
ferc said in a press release that the proposed policy statement estblishes an exception to the commissions general policy that take or pay buy out and buy down costs must be recovered through pipeline commodity sales rates ferc added that specifically in cases where pipelines assume an equitable share of buy out or buy down costs the commission proposes to permit the pipelines to recover the remaining costs through their demand rates it said it wanted guidelines for buying out and reforming existing contracts to help spread the impact of these take or pay costs in a responsible fair and equitable way
japanese securities houses have asked the finance ministry again to consider introducing auctions of 10 year government bonds securities sources said
but the dot said it would not wait
the dollar is expected to decline further in coming days as scepticism mounts about the effectiveness of last months paris accord to stabilise currency exchange rates senior foreign exchange dealers said
banking sources noted that the use of a special purpose vehicle will provide mexico with particularly attractive financing at a rate of about 1 4 to 1 2 pct over the london interbank offered rate libor the cost of the new financing compares with a spread of 13 16 pct on the loans in the new commercial bank package
turkish greek aegean tension abates
prices will also firm in the short term because some 370000 tonnes of rubber held in inra buffer stock will not be liquidated with a new pact in sight they said
lone star industries lce promisary notes
qtly div 7 1 2 cts vs 7 1 2 cts prior pay april 30 record april 15
japanese government bond prices rose sharply today as the markets concluded that the stock markets collapse precluded the central bank from carrying out the widely rumoured discount rate increase
conable a former congressman from new york appointed by president reagan to the senior most position at the bank nearly a year ago has taken the view that the bank badly needed to be reorganized and perhaps made more streamlined
piedmont now has about 186 mln shares outstanding
total petroleum na tpn shut down several small crude oil pipelines operating near the texas oklahoma border last friday as a precaution against damage from local flooding according to gary zollinger manager of operations
gennady gerasimov chief of the soviet foreign ministrys information directorate told reporters the agreement had been reached during a visit to moscow last week by irans oil minister gholamreza aqazadeh
called the telecommunications marketing and service organization ibm said the group combines the us direct sales service and support operations of its rolm corp unit with the marketing support operations of its information systems group
however total gross exports for the year declined by 56 pct to 359 billion ringgit from 38 billion in 1985 due to a fall in major commodity exports and weak prices he said
has been named to succeed robert l
it has received 107 billion dlrs from the world bank since 1968
equitable banc ebnc boss has ameritrust stake
mannesmann is also purchasing a 2501 pct stake in fichtel und sachs from commerzbank ag cbkgf and has an option to buy the banks remaining 10 pct stake a company statement said
bpi systems bpii in talks to sell company
february export prices same base as import prices were unchanged compared with january and 25 pct lower than in february 1986
payments on remaining debt would be linked to cash flow generated by assets pledged against the debt
money market analysts said the positive trade news touched off a modest rally in the canadian dollar which rose to 7685 us cts on north american markets early this morning after closing at 7658 cts wednesday
qtly div 30 cts vs 30 cts prior payable may one record april 10 notebryn mawr was reorganized as a holding company on january 2 1987 resulting in each share of bryn mawr trust co being converted into three shares of the new holding companys stock
fishman who has heard the sun chemical rumor said a 40 dlrs a share would just open the bidding
as a result of the increased loan loss provision the bank said the allowance for loan losses will increase from 14 pct to 25 pct of the banks total loans
export orders for taiwanese products fell 137 pct to 358 billion us dlrs in february from 363 billion in january but rose nearly 43 pct from 251 billion a year earlier an economic ministry official said
the sale sharply undercut the us offer of 112 dlrs per tonne fob for 33000 tonnes of wheat it said in its latest report on export markets for us grains
he said earlier today that brazil was first approaching governments before talking to the commercial banks themselves about the interest payment moratorium because the banks have some limits its a political discussion from our point of view funaro said on friday that his talks with us officials had resulted in no new financial arrangement to help resolve brazils debt crisis describing the meeting as an initial contact
it may be wishful thinking but there is a possibility the united states may lift its decision at an early date tamura said
tass commentator mikhail krutikhin said the administration had embarked on an adventurist path in order to deflect attention from the scandal in which the united states sold arms to iran and the profits were diverted to nicaraguan rebels
mobil said the operation will consist of two new units technical services and application technology along with the existing drilling and new exploration ventures groups
franklin ohio sets monthly payout
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
1985 year and 4th qtr include capital gains of 240 mln dlrs and 233 mln dlrs respectively and extraordinary gain of 39 mln dlrs
qtly div 50 cts vs 50 cts prior pay april 30 record march 31
were pleased that they have moved in tabling a proposal
that decision spurred by brazils suspension of interest payments on february 20 reduced the quarters net income by 20 mln dlrs to 2264 mln dlrs compared with 2339 mln in the first three months of 1986
the liberian vessel was concluding a trip from seven islands to hamburg
the pound closed on thursday at 40700 41200 to the dollar compared with wednesdays close of 38400 38600
telco systems inc telc 2nd qtr march one loss
taiwan said it would soon relax import controls on some 400 foreign items including stationery and books in a further effort to allow trading partners especially the us greater access to its markets
burr brown corp bbrco 3rd qtr net
the group said it reserved the future right to buy additional shares and to formulate other purposes or plans regarding its goodrich investment
the managers of the facility are westpac bank of montreal asia ltd bot international hk ltd commonwealth bank of australia and credit industriel et commercial de paris
an ico special meeting ended last night in london with exporting and consuming nations failing to agree on a resumption of export quotas suspended one year ago after prices soared following a prolonged drought in brazil
the two day meeting of delegates from 50 african states was called to work out a consensus ahead of the group of 77 ministerial meeting in havana next month when the developing countries will debate their strategy in economic negotiations with the west
the bonds which are available in denominations of 1000 and 10000 stg will be listed on the london stock exchange
all wheat 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 acreage mln acres planted 720 720 756 756 harvested 607 607 647 647 yield 344 344 375 375 supply mln bu start stcks 1905 1905 1425 1425 production 2087 2087 2425 2425 total supply x 4007 4007 3865 3865 x includes imports
distillate fuel stocks held in primary storage fell by 735 mln barrels in the week ended march 13 to 11274 mln barrels from a revised 12009 mln the previous week the american petroleum institute api said
but even japanese banks already established in secondary markets here face a host of problems in lead management
petro canada inc has 26 pct trillium exploration corp has 20 pct and nova scotia resources ventures ltd has 15 pct
us agriculture undersecretary daniel amstutz indicated the world wheat supply demand situation has become more bullish recently because of developments in the world market and increased consumption
the 1986 loss resulted in shareholders deficiency of 15 mln dlrs compared to shareholders equity of 289 mln last year
the conversion premium is indicated to be 20 to 23 pct
indonesia the only asian member of opec has been badly hit by last years slump in oil prices which cut its revenues from crude exports in half
reporting members of the national soybean processors association nspa crushed 21782929 bushels of soybeans in the week ended feb 25 compared with 22345718 bushels in the previous week and 16568000 in the year ago week the association said
christians told a news conference he met us treasury secretary james baker in the last two weeks after short term german interest rates had risen twice
micropolis corp said it filed with the securities and exchange commission a registration statement covering a 75 mln dlr issue of convertible subordinated debentures due 2012
the non recurrent earnings mainly derived from the firms sale of a 1575 pct stake in cathay pacific airways ltd caphhkg in april
consul restaurant cnsl in exchange offer
us officials say that while japan has stopped dumping semiconductors on the american market they have continued to dump them in third countries and that the japanese market has remained all but closed to the us semiconductors
waiting period ends on waste management wmx bid
occidental oxy unit to redeem debentures
showboat sbo gets approval for low bet day
philadelphia based reliance earned 253 mln dlrs on sales of 2016 mln dlrs in 1986
today call money traded between 5 3 8 to 5 1 2 pct and period tariffs all between 5 5 16 to 5 7 16 pct
bonn ministry has no comment on baker remarks
brokers barclays de zoete wedd bzw sees 155 mln profit for 1987
around a third of silver production comes from heavily indebted mexico and peru
miyazawa expects dollar to rebound soon spokesman says
okc limited partnership okc sets lower payout
cna income shares inc said it filed with the securities and exchange commission a registration statement covering a 30 mln dlr issue of convertible extendible notes due 1992
the dot had given tentative approval to the merger plan feb
the company released its audited 1986 results
golden nugget inc gng 4th qtr loss
1986 net both periods includes pretax charge 2944000 dlrs from writedown of assets and provision 726000 dlrs for obsolete and nonproductive inventory and other items
iceland to privatise state bank utvegsbanki
the approval was the last regulatory clearance required for the transaction
the rights issue would cut borrowings and also allow further development through investment and acquisition
steel firms study usx x unit price hike
the bank reiterated that total distributions to common shareholders would range from 1650 dlrs a share to 1725 dlrs including the initial stock dividend and a final distribution in late 1988 or early 1989
the statement was issued as reagan sent to congress requests for one year extensions of mfn for romania hungary and china
the figure was sharply lower than the 102 billion dinars in outstanding loans at the end of september according to latest central bank figures
allegheny international inc said it and first boston incs fbc sunter holdings corp subsidiary have been named as defendants in a class action filed in the court of common pleas for allegheny county pa which seeks an injunction against alleghenys proposed merger into sunter
wiehn added that babcock was still aiming for a three pct yield on turnover
wang said the desk top financial planning system for its ois comes in two basic packages the advanced planning system priced at 2995 dlrs and the budget reporting system priced at 1995 dlrs
in the 12 months to end january industrial production was 1048 pct above the 12 months to end january last year while in calendar 1986 output was 1089 pct above 1985
the dealers bid was previously blocked by the ontario securities commission because the offer excluded holders of canadian tire class a non voting shares which make up about 96 pct of company equity
that growth put existing trading systems and clearing houses under pressure and unification of the six sovereign exchanges should accelerate the development of screen based trading and a single clearing house industry sources said
shr loss 20 cts vs loss 12 cts net loss 2195000 vs loss 1402000 revs 3600000 vs 5777000 year shr loss 71 cts vs loss 51 cts net loss 7851000 vs loss 5594000 revs 167 mln vs 248 mln
the statement said the deal increased investors stake to 494 pct of the voting rights and 148 pct of the share capital while providentia is left holding 341 pct of the voting rights and 145 pct of the share capital in swedish match
joe gold to develop ontario mine
but it was notable that funaro did not meet with the creditors immediately affected the commercial bankers he added
trading profit 528 mln stg vs 525 mln
the bill would then be sent to reagan for signature
taiwan issues more certificates of deposits
iran plans to file lawsuits over us raid
shr 158 dlrs vs 193 dlrs net 86220000 vs 102629000 avg shrs 50831512 vs 49156828 assets 6104 billion vs 5795 billion loans 3876 billion vs 3968 billion deposits 3820 billion vs 3314 billion return on assets 057 pct vs 071 pct return on common equity 1147 pct vs 1519 pct note 1987 qtr net reduced by 12 mln dlrs because 104 billion dlrs of brazil loans were placed on non accrual
japan ministry asks trust banks to cut dlr sales
1987 nine mths includes loss 1519000 dlrs or 11 cts per share from early extinguishment of debt
in a related action the agency changed to possible downgrade from uncertain the direction of its current review of borg warners 12 billion dlrs of debt
the low outturn of the psbr in 1986 87 was mainly due to the buoyancy of non oil tax revenues in general and the corporation tax paid by an increasingly profitable business sector in particular
year ended january 31 parent shr 573 yen vs 580 div five yen vs same net 701 billion vs 677 billion current 2406 billion vs 2376 billion operating 3762 billion vs 4526 billion sales 63008 billion vs 81089 billion note company forecast for current year parent div five yen net seven to eight billion current 24 billion sales 610 billion
the agreement is subject to certain lender approvals and completion of formal documentation
this issue was rated b minus by s and p
these factors keep their ratings at speculative grades the agency concluded
first qtr 1987 includes non recurring charge of 1488000 for companys abandoning of its plan to convert to a limited partnership
on prices the survey showed that 62 pct of companies expect average prices at which domestic orders are booked will remain unchanged in the coming four months up from 57 pct in february
it is because of possible optimism that the government will intervene if necessary one dealer told 
the issue is non refundable for 10 years
in a related development small regional banks that have made loans to brazil and other heavily indebted latin american countries will meet with federal reserve chairman paul volcker here tomorrow
chrysler has made a 13 billion dlr bid to buy amc from its french parent renault
norway was not in the market
ponce federal bank fsb pfbs 1st qtr net
salick health care inc shcio 2nd qtr net
s p may downgrade clark equipment ckl 
it added that sybron expects revenues for the current fiscal year of 242 mln dlrs with operating income of about 51 mln dlrs
asked about the report by subcommittee members herrington said various proposals were under consideration and would be debated within the administration to determine which would have the most benefits at the least cost
the strategy is sufficiently broad as an initiative or concept that there can be additional emphasis such as in debt equity swaps and that sort of thing a reagan administration official said of the slow pace of commercial bank lending to the third world
moodys investors service inc said the credit quality of corporate bond issuers continued to decline in first quarter of 1987
refineries abroad he said guarantee a refining outlet for venezuelan crude oil while ensuring stability of supply to refiners
the lower and upper indicative prices floor and ceiling prices will remain fixed at 150 and 270 cents unless the council decides to revise them at reviews held every 30 months
wright a texas democrat told reporters the administration had gone ahead with plans to reflag the kuwaiti tankers as us ships without asking congressional leaders for their advice
he told al riyadh newspaper saudi arabia follows a balanced petroleum policy
he also said altnerative energy sources should be encouraged
us treasury deputy asst secretary berger says further dollar drop could cause inflation
us attacks on two iranian oil platforms in the gulf both of which were still blazing caused damage estimated at 500 mln dlrs tehran radio quoted iranian oil minister gholamreza aqazadeh as saying
cb and t financial corp cbtf year net
but viermetz said morgan guarantys economic models showed that with no further change in exchange rates and continued sluggish growth in west germany and japan the us trade deficit would improve only temporarily
an ibc spokesman told that a 15 mln dlr loan from the banco do brasil would be used to pay five mln dlrs a month in june july and august to creditors
finance secretary jaime ongpin said philippine investment notes pins to be offered to commercial bank creditors as part of the countrys 132 billion dlr debt rescheduling would revive the baker plan
it was unlikely to collapse like the tin agreement because its new financial provisions had been tightened they said
first boston corp and shearson lehman brothers inc co managed the deal
the price was last changed on september 30
victor lopez executive secretary of the miners union told a news conference the strikers began to fast in the major tin mining districts of oruro and potosi and the action would spread tomorrow to la paz and other areas
a 322 billion dlr offer for dome petroleum ltd dmpmo by transcanada pipelines ltd trpto may short circuit domes restructuring plan and open the door for more takeover bids oil analysts said
the principal amount of the subordinated debt remaining outstanding is 4644080 dlrs most of which is now held subject to indentures which were amended in certain respects in connection with the exchange offers the company said
in line with its planned global expansion efforts benetton is also holding talks with the soviet union to explore the possibility of opening up to 150 stores in the country
hannes androsch chairman of austrias creditanstalt bankverein said there was some truth to the charge
execution of a definitive agreement is expected by april 22 it said subject to the completion of financing arrangements and closing is expected by may 15
ericsson ericyo to buy rest of spanish unit
report says soviet economic plans too optimistic
the g 7 comprising the us japan west germany britain france italy and canada have agreed to monitor each others economic policies and from time to time apply peer pressure to persuade others to change their policies to a desired course they noted
the amount bought was not immediately available although the country had sought 30000 tonnes of june arrival whites they said
the issue will be guaranteed by new south wales and will be sold in denominations of one mln yen with listing in luxembourg
quarter point prime rate increases to 7 3 4 pct by citibank and chase manhattan bank today will be followed by other banks only after they see clearer signs of the federal reserves policy intentions economists said
he added takeovers and mergers had an important role to play in furthering economies of scale integration and more efficient market penetration
british printing last week withdrew its 44 dlr per share or two billion dlr offer for harcourt because of the recapitalizaton plan
trade proposes new ec grain intervention rules
they are going to cut their estimate said bob tate an fcoj broker with dean witter reynolds in miami
it said after nine months following closing montagu may require royal to register the 200000 shares for sale
a bonus of 4325 dlrs per tonne was awarded to cam usa inc on the shipment scheduled for june 20 30 melvin sims usda general sales manager said
tektronix inc 3rd qtr shr 48 ctws vs 39 cts
he supported that by saying the narrow m0 money supply aggregate was safely inside its flucuation band of two to six pct set for both 1986 87 and 1987 88
finance minister gerhard stoltenberg has said the sale of the federal governments stake in vw originally scheduled for later this year may be delayed because of the currency affair
its way too early for that
bass group cuts national distillers dr stake
analysts believe this probably is about where the fed wants the funds rate to be
sibson said he expects the tighter entrance requirements to pare 3he current list of 67 members down by six to 10 members
agriculture secretary ernesto figueras said only 500000 hectares of the area now flooded had been planted and that 200000 to 300000 hectares could be lost
the harkin proposal would set loan rates of 517 dlrs per bushel for wheat 377 dlrs for corn and 932 dlrs for soybeans all to be put in effect under strict controls on planted acreage reductions
they also share responsibility for finding lasting solutions local officials have payed great importance to weizsaeckers visit because they consider him a key backer of more flexible repayment terms for argentinas 51 billion dlr foreign debt latin americas third largest
with less than a week remaining to enroll in the 1987 feedgrains program agriculture department officials said that final signup will probably exceed last years level of 85 pct
brown forman bfd files 200 mln dlr debt offer
they were unsure of the amount of the central banks purchasing but it seemed to prevent the dollar from weakening against the yen amid bearish sentiment for the us currency they said
1986 net loss includes after tax special charge of 27 mln dlrs or 20 cts a share
western co of north america wsn 3rd qtr loss
in the month of may brooklyn union paid about two dlrs per mln british thermal unit for spot gas while contract gas costs four to five dlrs per mln btu industry sources said
united asset management corp uam ups payout
the acquisition requires two thirds approval by husky shareholders other than nova an alberta corp which owns a 57 pct interest in husky
we have no money left to continue operations rigaud said
duff phelps lowers duquesne light dqu debt
brazil computer market to remain closed minister
ongpin said manilas 7 8 margin meant the philippines would pay about 100 mln dlrs a year in interest when its grace period ended
yesterday after a meeting of leaders of the ruling accion democratica party azpurua said venezuela had obtained two new credits of five mln dlrs each for export financing one from credit du nord of france and the other from the midland bank of great britain
that is up from the may rate of 6 1 4 pct and reflects the interest rate charged the ccc by the us treasury in june usda noted
silas told in an interview today part of this strength results from the rise in oil prices and also because some of the analysts have been happy with the steps weve taken in 1986 to pare our debt phillips stocks rose 1 4 to 14 dlrs a share following recommendations by some oil analysts a company source said
we project free world dependence on persian gulf oil at 65 pct by 1995 herrington said
in woodbridge nj supermarkets general responding to a previous letter to its board by dart said your conduct indicates to us that no transaction involving trust and confidence can be entered into with you
net 3563000 vs 2821000 sales 3186 mln vs 3054 mln year net 28950000 vs 20167000 sales 122 billion vs 117 billion note company is a subsidiary of bayer ag of west germany
shares in cable and wireless plc cawll firmed in morning trading on market speculation that its participation in a joint telecommunications venture in japan would not be curtailed dealers said
network control corp said it intends to take a 250000 dlr charge against earnings for the third quarter ended march 31 and said sales for the quarter would be about 400000 dlrs about 50 pct below sales in the same year ago quarter
tokyo had a 59 billion dlr surplus with the united states last year and had large surpluses with other countries
the manufacturing groups continued to post advances while goods production rose 16 pct the third increase in the last four months
us trust corp ustco 1st qtr net
under the new rules a firm must be the book running lead manager during the two preceding years of 12 internationally distributed debt issues denominated in us dlrs or in one of eight other major currencies
in paris leading industrial nations agreed to cooperate closely to foster currency stability within ranges reflecting underlying economic fundamentals or economic reality
iep lifts ultramar and ogelbay norton stakes
the sources said the council was likely to tell miti it should end its 50 year old protection of the industry
as announced earlier the bonus was 9000 dlrs per tonne made to the pillsbury company and will be paid in the form of commodities from ccc stocks
they said approved lending in 1986 87 july june is expected to total 14 billion dlrs of which 550 mln will come from the ida and 850 mln from the world bank
intermark said it also has 341991 shares of pier 1 preferred stock or 352 pct of the outstanding while pier 1 holdings has 74225 shares or 76 pct
fleet owns first connecticut bancorp
the forecast assumes an average rate of 1485 yen to the dollar in 1987 88 compared with 160 yen in the current year
columbus and southern ohio electric co a unit of american electric power co inc is offering 100 mln dlrs of first mortgage bonds due 2017 priced to yield nine pct said lead manager morgan stanley and co inc
mcdonalds mcd up on reaffirmed recommendation
shr loss 15 cts vs loss 112 dlrs net loss 414331 vs loss 31 mln revs 738 mln vs 691 mln year shr loss 99 cts vs loss 169 dlr net loss 27 mln vs loss 47 mln revs 2769 mln vs 2901 mnln
the officials also had a blunt warning for those banks that refuse to participate in the loan package do not expect to get much business with mexico in the future
qtly div class b 135 cts vs 135 cts pay april 30 record april 9
industry sources said the moves will smooth the changeover to screen based trading and give the equities market one voice
the suit charges the offering materials are materially false and misleading and misstate and conceal material information required to be disclosed to shareholders
but as long as brazil sticks to its hardline position we can never bridge the gap dharyono said
daiwa securities drexel burnham and ubs securities are co managers of the offering
deutsche bank finance nv is issuing a 150 mln australia dlr bond due april 15 1992 with a coupon of 14 1 2 pct and priced at 101 1 2 said deutsche bank capital markets as lead manager
baltimore gas and electric co said it filed a registration with the securities and exchange commission to sell 100 mln dlrs of unsecured debt
the scale of the problem is immense
shr 65 cts vs 51 cts net 615 mln vs 502 mln revs 112 billion vs 9608 mln avg shrs 953 mln vs 994 mln
it said its offer was therefore subject to further discussions
it said the underwriters for this offerings may include smith barney harris upham and co inc goldman sachs and co and or salomon brothers inc
national semiconductor nsm cites improved results
minnesota power mpl debt downgraded by moodys
rothschild is sole agent for this transaction
the company said petroleum sales slipped slightly to 4043 mln barrels per day from 4082 mln bpd in 1985 while crude runs rose to 30 mln bpd from 29 mln bpd the previous year
it said in a statement that the two factors led to a squeeze on refining margins and an 1824 pct fall in sales and services income despite an unchanged level of activity
noel said proceeds will be used for additional working capital and expanding its factory in kingston jamaica
cooper development co bugs 1st qtr jan 31 net
hachette closed at 3280 up from a previous 3250
islamic development bank loans fall
sept 30 shr seven cts vs five cts net 234504 vs 157862 revs 4096000 vs 3007383
precambrian shield resources ltd earlier reporting a large loss against year ago profit said the 1986 loss was mainly due to a 51187000 dlr writedown on its us operations uneconomic coal and other mineral properties
amoco said wyoming southwest sweet colorado western and two utah grades of oil black wax and yellow wax were unchanged
pricing and conversion terms will be fixed on april 19 and payment date is april 30
at the companys annual meeting he said an acquisition could take place in the next 24 months
its puchases from the united states include electronic testing equipment and grains and cotton
in a white house briefing greenspan was asked by reporters if he thought the dollar had bottomed out
the maximum reserve requirement allowed by law is 20 pct
gulf coast is a subsidiary of the ew scripps co doing business as scripps howard no additional financial details were disclosed
it said the split will be payable april 17 to shareholders of record april 16
outboard marine om sells 915 pct debentures
us offers to escort kuwaiti tankers in gulf
the bank which raised its rate for ordinary overnight assistance to 13 3 4 from 13 1 2 pct on wednesday opened its special borrowing facility for overnight funds at 14 1 2 pct
sales of previously owned homes dropped 145 pct in january to a seasonally adjusted annual rate of 347 mln units the national association of realtors nar said
the acquisition will be completed this month as both the japanese and portuguse governments are expected to give permission soon
if approved the president of triton hendrik bokma will be nominated as chairman of the combined company
the current account includes trade in merchandise and services as well as us financial transactions with the rest of the world
the company said the start up was necessitated by continuing strong demand for aluminum and dwindling worldwide inventories and that the metal is needed to supply reynolds various fabricating businesses
the officials said the tariffs would be ended as soon as japan started adhering to the agreement
canada 4th qtr current account deficit 23 billion dlrs vs 3rd qtr 19 billion deficit official
moodys said resorts already has a highly leveraged capitalization
thomson grand public takes over thorn emis audiovisual division thomson
the company said it will hold a special meeting on july 10 for a vote on approval of a merger at the tender price
moodys may lower gaf gaf borg warner bor 
moodys may downgrade service merchandise smch 
they said it would be possible the company might consider a leveraged buyout or restructuring to fend off the offer
the company named drexel burnham lambert inc as sole manager of the offerings
the plant is designed to produce 5000 tonnes in the first five years and 8000 tonnes as from year six
in addition she said many of those nations are faced with serious debt and need to sell coffee to raise capital
both are 70 pct owned by canadas alcan aluminium ltd al which will take the share swap option alcan australia deputy chairman jeremy davis said in a statement
only nine pct expect output to fall while 47 pct said production would likely remain unchanged
mcdonalds mcd up on reaffirmed recommendation
meese told the house appropriations subcommittee that consideration would be part of the justice departments review of the proposed merger
17 and march 10
partly offsetting these outflows a fall in note circulation will add some 340 mln stg exchequer transactions around 300 mln and bankers balances above target about 50 mln
reports of a possible new round of interest rate cuts have further buoyed the thai stock market this week
trading was suspended today in shares of lai sun evergo china entertainment and the groups associate chinese estates ltd chinese estates lost 25 cents to 2015 dlrs yesterday china entertainment five to 860 dlrs and evergo one to 74 cents
general electric co 1st qtr shr 137 dlrs vs 118 dlrs
rates will be reset at three month libor plus 35 basis points for the shorter class and plus 60 basis points for the longer one
british chancellor of the exchequer nigel lawson said the next uk election was not the only element standing in the way of full british membership of the european monetary system ems but he added that arguments against joining had weakened
fed approves citicorp purchase of some assets of sears calif
the government missed a major opportunity to persuade oil exploration companies that it had realistic answers to the industrys concerns despite its recognition of the industrys problems the council said
texas air tex unit sells equipment backed debt
this year will see a pickup in us economic growth and inflation the shadow open market committee said in its semi annual policy statement
for conrac the arbitrageur said 28 dlrs per share seemed like an appropriate price another said its too early to project the outcome the market is speaking for itself and saying the 25 dlr offer is inadequate the second arbitrageur said
seven major us farm groups took the unusual step of releasing a joint statement urging congressional leaders not to tinker with existing farm law
amounts for 1985 and the first three qtrs of 1986 have been restated to reflect the retroactive application
the exemption is to expire the end of 1992
company sources said vw would have to dig into reserves to maintain the disclosed profit
painewebber group pwj to redeem debentures
encor energy corp inc said it planned an issue in canada of 125 mln dlrs of 675 pct subordinated debentures convertible any time into encor common shares for a price of 10 dlrs a share
32000 head have been sent to nearby provinces of las tunas and ciego de avila
the following import levies for white and raw sugar are effective tomorrow in european currency units ecu per 100 kilos
price includes 14 mln dlrs of safety kleen common stock cash and a rerefining plant owned by safety kleen
commerzbank overseas finance nv is issuing a 50 mln stg eurobond due march 31 1992 paying 9 5 8 pct and priced at 101 1 4 pct joint lead manager samuel montagu and co ltd said
assets of money market mutual funds increased 139 billion dlrs in the week ended yesterday to 23677 billion dlrs the investment company institute said
they said no information had yet emerged from the meeting called after statements from both countries that they were prepared to back rival oil exploration teams with warships
moodys said it is concerned over the outlook for improvement in the lead banks earnings and asset quality which have been burdened by high levels of nonperforming assets and charge offs
tech data corp said its board declared a three for two stock split payable april 30 to holders of record april 1
washington has accused japan of reneging on the deal by selling low priced chips in asia and by failing to boost american imports and has threatened to take retaliatory action
the move is seen as an attempt to persuade the producers to take back the surrendered sugar
but it said it would continue to be the exclusive worldwide licensee of the technology for woodco
speculation that edelman was going to take a stake in polaroid was kicking around a few months ago and resurfaced today one trader said
yeutter said if nations do the right kinds of things in financial monetary and tax policies then a lesser burden of adjustment is placed on exchange rates and one could envision a situation of the major trading nations moving back far closer to what most of us would consider equilibrium and exchange rates becoming relatively stable but he said on the other hand that if nations did not exhibit greater self discipline and international cooperation it is simply inevitable that the exchange rates will make that adjustment
kpmg was created as part of the merger announced last september of peat marwick international klynveld main goerdeler to form klynveld peat marwick goerdeler
the commission sources said today the increase was entirely explained by world market conditions
it said the operations being sold accounted for about five pct of revenues for the year ended february 28 and lost money
we have said all along that the rubber is holding up well from a condition and quality standpoint rubber stored in proper conditions does not deteriorate he told in a telephone interview
st lawrence seaway opens shipping season
the maturity period of government company bonds varies between seven and 10 years
it said the 26 pct of the industry that made no profit in the fourth quarter had losses of 32 billion dlrs
bank of france leaves intervention rate unchanged
heyman said the chemical industry has taken a total of seven billion dlrs in pre tax writeoffs during the past two years to trim balance sheets
a government as a sovereign entity has dignity and prestige to maintain private foreign banks and the world bank had calculated oil would have to be at least 25 dlrs a barrel for quito to be able to meet its commitments febres cordero said
the fitness inc said it agreed to buy livingwell incs manufacturing unit powercise international inc for 110 mln the fitness shares valued at about 30 mln dlrs
the movement to higher oil prices was never to be as easy as opec thought
since we have not seen signs of change in other positions its difficult to see a positive outcome at this stage brazilian delegate lindenberg sette said
oper shr 18 cts vs 28 cts oper net 1076000 vs 1441000 sales 226 mln vs 212 mln avg shrs 5970000 vs 5080000 year oper shr 55 cts vs 49 cts oper net 3007000 vs 2521000 sales 829 mln vs 737 mln avg shrs 5429000 vs 4484000 note full company name is bear automotive service equipment co oper shr excludes extraordinary profit from utilization of tax loss carryforward of 231000 dlrs or four cts a share and 12 mln dlrs or 22 cts a share respectively in 1986 qtr and year and of 441000 dlrs or nine cts a share and 11 mln dlrs or 23 cts a share respectively in 1985 qtr and year
the soviet union will likely honor its commitment with the united states to buy a minimum of four mln tonnes of corn this year an agriculture department official said
robert brusca of nikko securities co international sees both the strongest economy and the highest interest rates among those surveyed
stc plc stcll year to end 1986
bangladesh tenders for two mln barrels petroleum
currently it is halved between importers and exporters and the soviet union has a 30 pct share of the importer half
gti corp gti 4th qtr oper net
in a petition the sia said the court of appeals erred in upholding the decision of the federal reserve board of governors to permit bankers trust new york corp bt to underwrite and distribute commercial paper
the atpc hopes to cut the 70000 tonne world surplus by 20000 tonnes and boost prices
he stressed however that brazil was willing to pay as soon as it could but added that a payment of interest was not connected with the extension of the credit lines
he said the refinery will resume at about half its 178500 barrels per day bpd capacity as work on overhauling the north side of the complex which began at the end of january will not be completed before the end of april
canadian worldwide energy buys triton oil unit
1986 net both periods excludes tax credit 1288000 dlrs
it said it and sunter intend to vigorously oppose the action
coleco industries inc said it expects to return to profitability in 1987
canadian finance minister michael wilson said he will use temporary authority under the financial administration act to borrow an additional 600 mln dlrs in next thursdays treasury bill auction
the notes would bear 8 pct yearly interest mature march 31 2002 and be convertible to common shares on either march 31 1997 or the business day before a fixed redemption date at 1350 dlrs a share enfield said
brazils economic crisis is forcing a wholesale re examination of the established strategy for dealing with developing country debt leading bankers say
foreign bankers here said the pact gave manila the largest interest rate cut among major debtor nations
the us administration has already distanced itself from the bill
china reports 700 mln dlr two month trade deficit
it has been accounted for as a discontinued operation since last september
northgate quebec gold workers end strike
pay n pak stores inc pnp 4th qtr feb 28 net
on dec 31 1986 newmont said magma had about 850 mln dlrs of net operating loss carryforwards expiring in 1999 2000 and about 40 mln dlrs of investment tax credit carryover expiring in 2000 2001
good demand for colombians on bremen market
canadian imperial bank of commerce said it was lowering the interest rate on its visa credit card to 159 pct from 186 pct effective with the may billing statement
the company said its subsidiary is not precluded from making a new filing to provide sufficient support
orders will be strong for about two months and there are signs that some order rates are starting to dive already but dean witter reynolds inc analyst clarence morrison sees some short term potential in the group which includes usx corp x bethlehem steel corp bs armco inc as and inland steel industries inc iad there is still some attractiveness to steels over the short to intermediate term based on improved order rates and rising prices morrison said
the re emergence of south africa as a competitor follows a period of severe droughts which at one point required south africa to import 27 mln tones of us corn in 1983 84 it said
he said there were encouraging signs that some foreign investors were again taking a more realistic view of south africa
one dealer said he had been repeatedly in contact with the bundesbank during the morning to see if it wanted to buy dollars after the japanese and uk central bank moves
chase manhattan quickly followed
du plessis said the new interim debt agreement was substantially a continuation of the arrangement ending in june and calls for south africa to continue paying all interest on its total foreign debt of over 23 billion dlrs
consul cnslo extends exchange deadline
united tote inc tote 1st qtr jan 31 net
aldershot agrees to acquire intracoastal refining
it said both loans are repayable over 40 years including a 10 year grace and carry a service charge of one pct a year
canadian officials are very concerned about the trade implications
the national broadcasting co delivered its final offer for a new contract to representatives of 2800 writers editors and technicians early today and waited for a response
shr loss 89 cts vs loss 17 cts net loss 139 mln vs loss 1996000 revs 204000 vs 2087000 note 1986 includes writedown of 125 mln dlrs for the costs of mineral properties and deferred exploration and development bullmoose lake in the northwest territories
hf ahmanson and co ahm 1st qtr net
wwf statistics show half of the worlds tropical forests have vanished since the 1940s
our advisors convinced us the market would give higher multiples for pure plays blackburn said
botswanas official news agency bopa announcing the ban last night quoted agriculture minister daniel kwelagobe as saying only sterilised and canned animal products would be allowed into the country with immediate effect
ziering said he expects the earnings growth to result from positive effect of the weaker dollar on the companys exports sales as well as accelerated market penetration
ellmann said the stock may have also gotten a boost today from some optimism concerning new products the company is currently working on
if the whole purpose is to prevent imports one day it will be extended to other sources
bfce issues 17 billion yen eurobond
payment date is april 30 and there is a long first coupon
the officer said repairing damage will probably call for special measures this spring in fields with damaged plants and where stands are thin
the bank of spain said it raised its rate for overnight call money to 145 pct from 14 pct with immediate effect at todays daily auction for assistance funds
its stock has traded heavily and arbitragers said they believe jacobs may not be the only investor who has a sizeable position in the company
ministry officials declined to say when they would give formal approval but said they were working on the issue
citibank launches currency warrants
the loan is for 14 years including 3 1 2 years of grace and carries a variable interest rate currently 792 pct linked to the banks cost of borrowing
uk oilmeal veg oil production rose in 1986
the bond is due on may 15 1990 and interest is paid on that date annually
japan has assured a meeting of trade ministers it is making every effort to expand domestic demand and restructure its economy
bread wheat 26924 41610 maize 23051 52000 sorghum 2205 6257 soybean 5613 5245 sunflowerseed 457 2132
amt had until march 26 to lodge its appeal
under the agreement pizza inn said it will still be permitted to complete a leveraged buyout agreement with pizza inn acquiring corp which has been approved by its shareholders but is subject to otaining financing
but their position seems to be hardening the source said
proxmire said he would call for extending the period that a tender offer must be kept open under the williams act to 60 business days from the current 20 business days
von wartenberg said the government was in a difficult position on its trade figures
the business which will operated under the name sk wellman will become a member of mlxs specialty friction materials group
problems with the new structure appeared earlier this year when some producers output fell due to customer reluctance to pay the new prices
qtrly div 285 cts vs 285 cts pay april 15 record march 31
a banker said he saw no reason why the market makers decided to shut down if they were willing to join the new issue
the current debt burden will be manageable if concessionary loans can be attracted he said
seamen employed by two small companies have already accepted a 120 pct pay rise and returned to work as have about 5000 seamen employed by petrobras
the smelter also produced cadmium bismuth and indium
oper shr profit one ct vs profit two cts oper net profit 63000 vs profit 84000 sales 5009000 vs 4042000 1st half oper shr profit two cts vs loss 17 cts oper net profit 87000 vs loss 794000 sales 9838000 vs 7368000 backlog 178 mln vs 114 mln note current year net excludes tax credits of 32000 dlrs in quarter and 45000 dlrs in half
the rains caused flooding in western and northwestern buenos aires as more than 750 mm have fallen in some areas there since february 23 while the annual average is 1200 mm
it did not specify in its sec filing which issues selling its ami stake or joining with others in a takeover try were discussed with which group
qtly div 11 cts vs 11 cts prior pay april 14 record march 17
qtly div eight cts vs na payable may 11 record april 24
stoltenberg told a news conference the statement released yesterday monday after the private meeting emphasized our determination to continue the close economic cooperation regarding foreign exchange stabilization and monetary policy stoltenberg said that he baker and bundesbank president karl otto poehl had a very constructive discussion and had all reached a positive evaluation of the louvre accord during their meeting on monday
the company later reached an accord under which it would buy 20 pct of the company after kohlberg kravis completed its leveraged buyout of the company
the growers and traders also said that under new buffer stock rules malaysia can continue to benefit even if it is not a member of the pact as the buffer stock manager is also allowed to buy from non members for the stockpile
the central bank bought bank bills outright comprising 12 mln stg in band one at 9 7 8 pct and 85 mln stg in band two at 9 13 16 pct
the central bank stepped into the market when the dollar fell towards 14900 yen but a trust bank aggressively sold dollars to hedge currency risks and the bank intervened again at 14900 they said
the cabinet has approved a bill making it easier for the government to issue commemorative coins a finance ministry official said
mariano rubio governor of the bank of spain the central bank yesterday said internal demand was currently growing at an annual rate of six pct and it had to be brought down to four pct if the government were to meet its five pct inflation target this year
the payments would cost an estimated 11 billion dlrs myers said
the edmonton alberta plant would be scheduled to go on stream in late 1989 the statement said
the current account balance of payments in february showed a seasonally adjusted provisional surplus of 376 mln stg compared with a surplus of 73 mln in january
he told a news conference held during a meeting here of ec agriculture ministers that britain west germany the netherlands denmark and portugal were all against the tax
the us wants south korea to cut its trade surplus with the us which rose to 74 billion dlrs in 1986 from 43 billion dlrs in 1985
firstcorp fcr sees gain on condemnation
he told a lower house budget committee in parliament that the bank of japan would continue to cooperate closely with other major nations to stabilize exchange rates
he said australian businessman and brewer alan bond and the brewing company elders ixl ltd elxas were interested in buying 40 pct each of smc stock
perus exports fell to 251 billion dlrs last year from 298 billion in 1985
noranda inc said it began salvage operations at its murdochville quebec mine where a fire last week killed one miner and caused 10 mln dlrs in damage
wilson said the only remaining issue is the length of the union award
it said invitations were sent to two alaskan electric utilities the city and borough of anchorage and the state of alaska
bankers are likely to oppose losing any share and the finance ministry is unwilling to introduce auctions on the ground that it would slow smooth absorption of bonds in the secondary market securities manager said
the index for industrial production base 1980 was set at a seasonally adjusted 1098 in january after decembers 1094 and compared with 1082 a year earlier
the state owned minerals and metals trading corp will send a team to japan next week to negotiate an iron ore export contract for 1987 88 beginning april 1 trade sources said
us cargo preference funding accord seen near
it said a preliminary survey showed the region could hold billions of barrels of oil and gas and that its potential as an energy resource would never be known without exploration
a spokesman said vws supervisory board will meet tomorrow to discuss the payout
traders said licht forecasts eastern europe plantings at 473 mln hectares against 472 mln in 1986
eurostat noted output growth also fell in the us and japan
1985 both periods includes interest in rn koch inc since feb 8 1985
in a twin announcement csr already australias largest sugar refiner made a 220 dlr a share bid for the 70 pct it does not already hold in pioneer sugar mills ltd this will be a big shock to the market which was under the impression that csr was well down the road to floating delhi mckibbin said
delegates said major sticking points were likely to be the amount of non member cocoa allowed to be bought for the buffer stock and the fixed price differentials at which different origin cocoas will be offered to the buffer stock manager
the house budget committee also plans to start drafting a separate budget plan later this week which would have to be reconciled with the senate version
qtly div 19 cts vs 19 cts prior pay april 15 record april three
the canadian dollar traded at 13218 23 per us dollar today down from 13185 90 yesterday
the bundesbank is unlikely to change its credit policies at its central bank council meeting on thursday as exchange rates and short term interest rates have stabilized over the past few weeks money market dealers said
upside potential for prices is limited by the huge supply overhang while strong underlying support is provided by the us loan rate the problem is likely to become worse as the artificially high prices encourage producers in south america canada and australia to shift from grains to oilseeds balletto said
china has to decide if it will increase sugar imports this year to cover falling domestic output and rising demand in view of market predictions that international sugar prices will remain firm this year traders and the official press said
it said the dividend will be distributed on april 30 to holders of record on march 30
the agreement signed march 11 provides for the sale of about 75000 tonnes of wheat wheat flour worth 85 mln dlrs 15000 tonnes of corn sorghum worth 15 mln dlrs and 6000 tonnes of tallow worth 20 mln dlrs the department said
but results softened from the prior quarter because of low bookings last fall for third quarter shipment and holiday shutdowns it said
shr primary 68 cts vs 34 cts shr diluted 65 cts vs 34 cts net 1297 mln vs 529 mln revs 222 billlion vs 242 billion avg shrs primary 1521 mln vs 1471 mln avg shrs diluted 1998 mln vs 1471 mln nine mths shr primary 189 dlrs vs 100 dlrs shr diluted 184 dlrs vs 100 dlrs net 3611 mln vs 1451 mln revs 691 billion vs 490 billion avg shrs primary 1510 mln vs 1464 mln avg shrs diluted 1987 mln vs 1464 mln note earnings per share for 1986 have been restated to reflect 3 for 1 split effective july 8 1987
nazer in an interview with and the television news agency visnews said saudi arabia was producing around three mln barrels per day bpd of crude oil well below its opec quota
it said it expects to file an amendment to its form 10 k but did not say when the amended filing would be made
auditors lift qualification on brunswick bc 
shr 23 cts vs 22 cts net 1293000 vs 1256000 sales 397 mln vs 316 mln nine mths shr 72 cts vs 61 cts net 4099000 vs 3470000 sales 1159 mln vs 876 mln note share adjusted for three for two stock split in february 1987
hindustan lever profits rise for 1986
maui land and pinapple co inc quarterly dividend
as part of the distribution of assets the company said it expects shareholders to receive an amount based on the bid price of the companys stock which was 1 16 on march five
ec says us broke trade rules in akzo dupont row
nonetheless us officials see signs of improvement in the deficit
we have made steady progress in a period of market activity which has been marked by unprecedented activity william schreyer chairman and cheif executive officer and daniel tully president and chief operating officer said
it said the copper sales value was up from 2676 mln dlrs in 1985 reflecting a 101 pct increase in quantity sold to 212000 short tons and a 04 pct decrease in price
repayments are in 20 half yearly instalments starting from the 68th month
the commodity credit corporation ccc has accepted bids for export bonuses to cover sales of 25000 tonnes of wheat flour to iraq the us agriculture department said
the state gold mining corp of ghana granted the venture an additional 145 square kilometers in teberebie ghana contiguous to 115 square kilometers granted earlier
proposed offerings recently filed with the sec
the swiss franc firmed slightly to 12030 45 marks per 100 from 12025 40 with the yen soaring however to 12570 90 marks per 100 from 12515 35 yesterday
krestmark had revenues of about 40 mln dlrs and operating losses of three mln dlrs in 1986 the company said
at end of 1987 and 1986 third quarter average shares outstanding were 1699 mln and 1754 mln outstanding after deducting dividends accured on preferred stock
fed says it sets three day system repurchase agreements
lindberg co lindo 3rd qtr net
ratings lowered include the companys senior debt to a minus from a and commercial paper to a 2 from a 1
the federal trade commission said it eased a requirement that allied signal incs allied corp subsidiary get prior ftc approval before making certain acquisitions in the high purity acid market
at this weeks tender on monday the bank sold a total of 484 billion francs worth of 13 and 24 week bills against an original offer of four billion francs worth and demand for 1414 billion francs
in its monthly report on us oil supplies and stocks api said that domestic demand for petroleum products as measured by products supplied continued to rise reaching 163 mln barrels a day in the month up 15 pct from february 1986
nippon shokubai kagaku kogyo is issuing a 80 mln dlr equity warrant eurobond due april 30 1992 paying an indicated coupon of 2 1 8 pct and priced at par lead manager nomura international ltd said
further purchases are expected by the peoples republic of china at the lower end of the recent price range which should limit the downside movement it said in its latest monthly market report
ohio mattress co said itr has executed a definitive agreement to acquire sealy mattress co of michigan inc the detroit licensee of ohio mattresss 82 pct owned sealy inc subsidiary in a transaction that also involves a settlement between sealy and michigan sealy
the problem is higher rates are attracting liquidity from abroad he said this was why the central bank enacted specific measures to control the inflow of foreign capital
norsk hydro a s nhyo is issuing 50 mln stg bonds due april 15 1993 carrying a 9 7 8 pct coupon and priced at 101 5 8 said hambros bank ltd as lead manager
foote 83 pct owned by newmont mining corp said newmont has informally indicated it would vote in favor of the rio tinto proposal
he noted the problem of debt was a severe one and many countries are asking for adjustment assistance because of the problem of debt conable is a a former republican congressman from new york chosen by president reagan for the bank position last year
firms need not be pessimistic about export prospects even though foreign markets have become more difficult because of the marks strength the economics ministry said
hometown bancorp inc htwno 3rd qtr net
mulford says germany japan should do more
the exercise period runs from april 8 1987 until march 6 1989
cincinnati bell inc said it has started its previously announced 1575 dlr per share tender offer for all shares of auxton computer enterprises inc
2500 workers the chevrolet pontiac gm of canada facilities to be shut temporarily are located in north tarrytown ny 3500 workers pontiac mich
argentina is seeking a 215 billion dlr loan to meet four pct growth targets in 1987
he said news of strong growth in exports of non oil goods confirmed recent bullish surveys among members of the confederation of british industry
it said the quality of oilseeds such as soybeans groundnuts and sunflower seed packed in polypropylene bags deteriorated after two weeks
indonesian energy minister subroto told the association he was aware that the oil industry needed to be assured that contracts on blocks expiring within the next 10 years would be renewed before they would invest in further exploration
geodyne resources said a registration related to the stock to be exchanged for snyder has been filed with the sec but has not yet become effective
universal holding corp uhco 4th qtr net
but the sources forecast supplies from argentina may fall to 400000 to 500000 tonnes from an anticipated 800000 in calendar 1987 and from south africa to 700000 to 800000 tonnes from an estimated one mln in light of tighter export availability
banks shareholders and depositors will have their rights guaranteed by the government an edict of vital significance in a country of only 17 mln people where the financial sector is the biggest after oil
nobel industries sweden sa noblst said its arms subsidiary ab bofors plans to sell its 40 pct stake in allied ordnance co of singapore ltd because of its part in weapons exports which contravene swedish law
we do not want protectionism we do not want a trade war he said
foote mineral co said it has signed a letter of intent to merge into rio tinto zinc corp plc for cash
brazils moratorium on commercial debt becomes critical by end may when payments would be 90 days overdue obliging us regulators to downgrade brazilian debt financial sources said
the sources said the rescue programs for the two projects were larger than earlier expected reflecting japans desire to help develop the economies of indonesia and brazil and to stabilise sources of aluminium
the london metal exchange lme issued turnovers for march 1987 with figures for corresponding period 1986 in brackets
hong kong firm ups calmat czm stake to 98 pct
future exposure would rise over the life of the asset
in contrast to public issues though the prospectus must merely be made available to clients on request via all syndicate banks rather than published and distributed in printed form
the record date for southmark shareholders to receive these rights will be may one with an ex dividend date of april 27
american meat packers see japan as a promising market
bouey said payments to chartered banks which are made to banks that are facing liquidity problems dropped to an average of 8323 mln dlrs at end of december from a peak of 52 billion dlrs in march 1986
pegasus gold pgulf reduces debt
it will be denominated in 10000 franc units and be listed in luxembourg
march us savings bonds sales rise strongly
the kuwait investment office kio has increased its stake in sime darby bhd to 6372 mln shares representing 688 pct of sime darbys paid up capital from 607 mln shares malayan banking bhd mbkmsi said
quantech qant says three directors resign levittown ny april 1 quantech electronics corp said leonard n
shr primary 24 cts vs 25 cts shr diluted 21 cts vs 25 cts net 530583 vs 493423 revs 102 mln vs 9834578
oper shr 16 cts vs three cts oper net 1930000 vs 391000 revs 3139 mln vs 3089 mln avg shrs 119 mln vs 120 mln year oper shr 60 cts vs 27 cts oper net 7215000 vs 3340000 revs 123 billion vs 116 billion avg shrs 119 mln vs 120 mln note prior year net excludes gains 4896000 dlrs in quarter and 8873000 dlrs in year from termination of overfunded pension plans
the company said the change will not impact on its net income for th year
the two companies said they now plan to complete work by april 23 chrysler and renault said given the complex nature of the deal the need for additional time was to be expected the march letter of intent between the two companies says that chrysler could ask renault to extend the agreement date in the event that prior to april 9 1987 chrysler discovers an unforeseen problem in the course of its due diligence investigation of the company referring to american motors
lenz are offering to acquire becor for 1550 dlrs per share subject to becors receipt of at least 110 mln dlrs from the proposed sale of its western gear corp subsidiary
japan consumer prices unchanged in february
greece declined comment on the statement
earlier the refinery had had to import some supplies of bauxite as rebel activity shut off supplies from alcoas mine at moengo in the east of the country
the offers were the result of applications submitted to the ministry of economic affairs for the netherlands sixth offshore licensing round
northgate which produced 23400 ounces of gold in first quarter said that while the strike slowed production we are still looking forward to a very satisfactory performance the chibougamau mines produced 81500 ounces of gold last year
french intervention rate cut likely dealers say
ridal said the new program will complement a note issuance facility the company arranged last year and also increase the investor base
baker warns against forgiveness of latin debt
oman links its currency formally to the dollar while kuwait pegs its dinar to a trade weighted basket devised by itself
carling okeefe ltd said it sold its star oil and gas ltd unit to united coal canada ltd for about 57 mln dlrs cash
the oecd predicted that domestic demand would come under pressure from tight fiscal policy in denmark as well as norway sweden and finland
a san miguel spokesman declined comment
prices had risen 03 pct in the month to mid february but had fallen 07 pct year on year
some traders who have received telexes from cuba said the language of the message was not totally clear and some believed shipments would be honoured if the traders declare the soviet union as the destination of their contracts
after one year they will be redeemable at any time by the company at 25 dlrs a share plus accrued dividends
concorde ventures inc said it has signed a letter of intent to acquire englewood colo homebuilder winley inc for 12 mln common shares
quixote said the agreement with dainippon which has annual sales of more than two billion dlrs provides for a dainippon representative to sit on the laservideo board of directors
the rainbow merger involves shareholders in both rainbow and progressive being issued shares in a new company astral pacific corp ltd on a one for one basis
the proposal is a response to overseas calls for japan to liberalise its markets in the trend towards global trading
drilling will begin in september
in addition zayre said it plans to add six new bjs wholesale clubs and eight new homeclubs to its warehouse group
meese sees a plus in chrysler amc merger
boliden takes over allis chalmers division
cable says consortium proposals not acceptable
the 1986 results include republic airlines since nwa acquired it aug 12 1986
in its statement borg warner said its board endorsed the merrill offer and it recommended that shareholders tender their shares
also westpac has agreed to redeem to floating rate notes after 15 years
standard and poors corp said it may downgrade ecolab incs 10 mln dlrs of bbb plus subordinated debt
february imports measured in terms of value totalled 3211 billion marks a decline of 10 pct against february 1986 but a rise of 55 pct against january
brazil will import 30000 barrels per day of crude oil from kuwait a spokesman for the state oil company petrobras said
shr 50 cts vs 47 cts net 3445000 vs 3193000 note share adjusted for two for one stock split in january 1987
a national cooperative official said that as long as world market levels continue at around half of perus production cost the future of the industry is uncertain
consumers financial corp cfin 1986 net
barley 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk named a 5595 5845 nil nil unnamed b 127 127 nil nil eoa c nil nil nil nil oop d 250 250 nil nil gr total 5971 6221 nil nil ay expt e 24646 24407 ind ttl f 30617 30628 usdaprj g 32700 32700 oats 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk named a nil nil nil nil unnamed b nil nil nil nil eoa c nil nil nil nil oop d nil nil nil nil gr total nil nil nil nil ay expd e 24 24 ind ttl f 24 24 usdaprj g 300 300 rice 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk named a 3476 3691 nil nil unnamed b 10 10 nil nil eoa c nil nil nil nil oop d nil nil nil nil gr total 3486 3701 nil nil ay expd e 17188 16882 ind ttl f 20674 20583 usdaprj g 25800 25800 hard red winter wheat 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk named a 17380 20197 8930 9430 unnamed b 805 705 1076 772 eoa c nil nil nil nil oop d nil nil nil nil gr total 18185 20902 10006 10202 ay exp e 83321 79745 ind tl f 101506 100648 white wheat 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk named a 5485 6356 580 580 unnamed b 190 x 190 x 60 x 60 x eoa c nil nil nil nil oop d nil nil nil nil gr total 5295 6166 520 520 ay exp e 38315 37577 ind tl f 43610 43743 x denotes minus figure hard red spring wheat 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk named a 5766 6206 1647 1647 unnamed b 296 160 nil nil eoa c 09 09 nil nil oop d nil nil nil nil gr total 6071 6375 1647 1647 ay exp e 43124 42476 ind tl f 49195 48851 durum wheat 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk named a 1666 2803 934 934 unnamed b 528 769 nil nil eoa c 28 28 nil nil oop d nil nil nil nil gr total 2222 3600 934 934 ay exp e 18426 17275 ind tl f 20648 20875 soft red winter wheat 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk named a 1278 1278 3823 3765 unnamed b nil nil 140 x 140 x eoa c 58 58 nil nil oop d nil nil nil nil gr total 1336 1336 3683 3625 ay exp e 27260 27260 ind tl f 28596 28596 x minus figure country and destinations of the identified sales of commodities reported by exporters in week ended april 2 for the respective marketing seasons were detailed by the usda as follows with comparisons for the previous week in thousands of tonnes except where noted all wheat 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk ec nil nil 500 500 other west europe 2188 2368 nil nil east europe 2610 3460 250 250 all wheat continued 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk ussr nil nil nil nil japan 4904 6622 nil nil china 900 900 9100 9100 taiwan 1150 1410 1440 1440 other asia and oceania 6549 7309 286 786 africa 9595 11150 1671 1671 western hemisphere 3679 3621 2667 2609 soybeans 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk ec 3022 3177 914 914 other west europe 250 250 nil nil east europe 1010 1010 nil nil japan 3554 3305 nil nil china nil nil nil nil taiwan 4720 4990 870 870 other asia and oceania 1646 1877 nil nil africa nil nil nil nil western hemisphere 3544 3915 375 375 soybean oil 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk ec 15 15 nil nil india nil nil nil nil other asia and oceania nil nil nil nil africa nil nil nil nil western hemisphere 73 89 nil nil soybean cake meal 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk ec 3017 3507 472 450 other west europe nil nil nil nil east europe nil 360 nil nil japan nil 35 nil nil other asia and oceania 250 400 nil nil africa 302 380 nil nil western hemisphere 4310 4015 34 34 corn 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk ec 825 225 02 02 other west europe nil 08 nil nil e
gasoline demand averaged 693 mln bpd up 40 pct from 667 mln last year while residual fuel demand was 131 mln bpd off 79 pct from 142 mln the eia said
it is projecting a current account deficit of 22 billion dlrs after one of 24 billion last year
it was not until late last year after the currencies stabilized that companies again started issuing debt denominated in australian and new zealand dollars
philippines trade and industry secretary jose concepcion told world trade ministers he wondered if their agreement was of any real value after the european community ec imposed a levy on vegetable oils
cadillac fairview says it received takeover bids
citibank said friday it told the sec its earnings could be reduced by 50 mln dlrs after tax in the first quarter and 190 mln dlrs in the year if it has to declare 39 billion dlrs of medium and long term brazilian loans non performing
the february rise in production was aided by a sharp 19 pct increase in construction output compared with january when production in many industrial sectors was depressed by unusually severe winter weather
usda accepts bonus wheat offers for china
norsk hydro is 51 pct owned by the kingdom of norway
thailand buys yugoslav cranes in barter deal
exports fell to 375 mln from 389 mln tonnes while imports rose to 572 mln from 537 mln
weighted average rate on bank lending was a provisional 1378 pct in february compared with 1383 in january while average weighted rate paid on deposits eased a provisional 749 pct from 766 pct
non refundable for five years the issue is rated aa 2 by moodys and aa minus by s and p
the diplomats said they knew of no deal for moscow to provide a naval escort for its own vessels but the idea of protection is implicit one said
the company said it had increased the dividend by 13 pct last december
sanford margoshes of shearson lehman brothers said this deal shows that british petroleum a conservative investor that knows the oil business is clearly confident in the us oil industry and that shines well on the us companies philips petroleum p gained 3 4 to 15 7 8 occidental petroleum oxy one to 34 5 8 usx corp x with its marathon oil co unit rose 1 2 to 28 3 8
weve created a way to set a real value for them one morgan official said
stoltenberg says baker meeting underscores accord
main destinations for refrigerated beef bone in equivalent were as follows in tonnes with comparative figures for 1985 in brackets ec 46300 49700 israel 16200 17600 brazil 18100 unavailable peru 8100 2300 angola 4800 12100 chile 3400 8200 switzerland 3000 3000 canary islands 2400 3700 singapore 1900 1700 aruba curazao 1600 1700 main destinations for canned meat and cooked beef bone in equivalent in tonnes with figures for 1985 in brackets were united states 88300 102900 ec 30700 24100
standard and poors rates all of the securities aaa
southwest realty swl has liquidity problems
if all the contingent shares are issued blue grass said former owners of equine will have a 75 pct interest in blue grass
myers said soybean plantings are expected to decrease as a result of the action on oats planting of which are expected to increase by two to three mln acres
no shares will be given to applicants for fewer than 100 shares
libya was also a buyer this week taking two cargoes of whites which for an undisclosed shipment period were reported priced around 229 230 dlrs a tonne cost and freight they added
upland minerals and chemicals corp said it agreed to acquire consolidated brazilian mines international inc a public company with one mln acres of diamond and gold properties in brazil
australian reserve bank cuts rediscount rate
in 1986 the european corn wet milling business had sales of 9141 mln dlrs operating income before overheads of 688 mln dlrs and associated headquarters overhead costs of 197 mln dlrs according to cpcs 1986 annual report
funaro renewed the request today
ruding against further dollar fall trade curbs
he said that on the contrary baker wanted to avoid any further rise in us interest rates because it would not only hurt the us economy but aggravate the third world debt problem
shr 345p vs 245p adjusted div 19p making 29p vs 248p adjusted pretax profit 1781 mln vs 1101 mln tax and minorities 605 mln vs 327 mln profit attributable 1176 mln vs 774 mln pretax profit includes long term business 1455 mln vs 1377 mln general insurance business underwriting loss 999 mln vs 1316 mln investment income 948 mln vs 782 mln trading loss 51 mln vs 534 mln investment management uk 64 mln vs 16 mln shareholders other income 313 mln vs 242 mln pretax profit by division includes uk individual division 971 mln vs 895 mln uk group pensions 105 mln vs 106 mln international 134 mln vs 124 mln mercantile and general 245 mln vs 252 mln prudential portfolio managers 64 mln vs 16 mln prudential property services 21 mln loss vs nil
david jones owned 492 pct by adsteam earned the largest associates net of 5738 mln dlrs in the half against 4029 mln a year earlier adsteams figures show
a reduction of the us federal budget deficit will be needed to help eliminate the nations huge trade deficit us trade representative clayton yeutter said
the merger is still subject to approval by shareholders of both companies
kraft inc said it has completed the previously announced acquisition of the anderson clayton foods division from quaker oats co for 235 mln dlrs in cash
the oecd called for efforts to liberalize world agricultural markets through switching farm subsidies away from price guarantees and other measures linked to production towards direct income support for farmers
the south african rank xerox unit sells copiers and duplicators throughout south africa and in namibia south west africa it has over 800 employees all of whom will be retained by fintech when the deal closes rank xerox said
the weekly us soybean crush rate was reported by the national soybean processors association this afternoon at 2178 mln bushels down from the 22 mln bushel plus rate seen over the past two months when crush margins surged to the best levels seen in over a year
api says distillate stocks up 628000 bbls gasoline up 229 mln crude up 852 mln
in addition iomega announced layoff of about 182 employees principally from its manufacturing direct labor force
chile and mexico are currently front runners in this field but most latin american officials see these schemes as limited and no panacea for the overall problem
oper shr loss four cts vs loss 33 cts oper net loss 154000 vs loss 1301000 sales 300 mln vs 270 mln year oper shr profit 60 cts vs loss 16 cts oper net profit 2364000 vs loss 608000 sales 1135 mln vs 1328 mln note net excludes extraordinary charges from provision for roofing products warranties and costs from sale of printing laminate division of 320000 dlrs vs 103 mln dlrs in quarter and 43200000 dlrs vs 127 mln dlrs in year
indonesia has official and private overseas debts totalling 37 billion dlrs according to the bank which makes it the third worlds sixth biggest debtor
coffee conference ends with call to continue talks
the department said the bonus awarded was 150500 dlrs per head and was made to brown swiss enterprises inc
local brokers have requested the head of the syndicate now fuji bank ltd to increase their share to 307 pct but banks oppose any cut in their 74 pct share bankers said
last year the netherlands planted a record 137600 hectares of sugar beet and produced a record 12 mln tonnes of white sugar substantially more than the countrys combined a and b quota of 872000 tonnes
yugoslavia whose economic crisis is under close scrutiny by foreign creditors will not follow brazil by suspending repayments on its large foreign debt prime minister branko mikulic was quoted as saying
a report from new york yesterday quoted bankers as saying manila will pay 111 mln dlrs over 1987 1988 and 1989
it will be difficult to regain access to the us market because different forces are in play now said one western envoy
hudson valley which provides guard and patrol services in upstate ny said federal protection services provides investigation uniformed guard and armoured truck services to banks corporations and residential communities in southern florida
finnair to buy two mcdonnell douglas aircrafts
they want to focus on the deal and they wanted the banks to focus on the deal one source said
he said he may buy more arden group shares or he may sell some or all of his current stake
under the new rules a firm must be the book running lead manager during the two preceding years of 12 internationally distributed debt issues denominated in us dlrs or in one of eight other major currencies
projected earnings from beef sales could fall about 23 mln dlrs as a result he said
while the usda soviet import target for grain for 1986 87 was 22 mln tonnes many us grain analysts have revised their estimates of soviet imports up to 25 28 mln tonnes she said
it wasnt a true market someone asked you a price and you just gave them an idea one said
however he said production of zinc ingots this year was expected to fall to around 86000 tonnes this year at cajamarquilla from 94000 tonnes in 1986 because of the stoppage
in india some 240 mln cattle are estimated to be at risk from the disease
net includes pretax loan loss recovery 41000 dlrs vs provision 50000 dlrs in quarter and provisions 135000 dlrs vs 50000 dlrs in year
they said hogs havent been making the weight gains that are normal at this time of year and farmers have been too busy with field work to market animals
ouko paid tribute to the private sector for its contribution to the economy and promised to improve government cooperation with businessmen by maintaining regular contact with them
eisenberg was unavailable for comment
but major japanese firms appear to have agreed to the production cuts several analysts said
qtly div class a 27 1 2 cts vs 27 1 2 cts qtly div class b 24 1 2 cts vs 24 1 2 cts pay april 10 record april three
opec within output ceiling subroto says
meatpackers respond to occidental oxy offer
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
1986 figures not given as company went public on june 2 1987
data access said phoenix chairman martin s
he said he was not sure the company had formally received notice of the offer but was aware of it through press accounts
the certificates and 2259 mln dlrs of cc subordinated debt remain on s p creditwatch with positive implications
in that connection they welcomed the strong implementation of the louvre agreement
the plant is supposed to break even if prices stay at 1500 dlrs a tonne
any tax shortfall in itself is unlikely to push yields up
the bank has thus given a total of 37 mln stg so far today which leaves the bulk of a 115 billion stg shortage still in the system
he said an involuntary buildup in inventories largely in autos will add to first quarter economic growth with consumer spending helping later
during the morning council session the ivory coast delegation gave an open minded statement that it is willing to work out a buffer stock rules solution which could come into effect as soon as possible baron said
the maximum cost of the acquisition would be 6209 mln stg
henderson land development co ltd hndhhk 
it said pretax profit should rise to 230 mln stg in the year to april 2 1987 from 196 mln previously and reach 275 mln in 1987 88
american express is in a position where they can raise capital if they need to said larry eckenfelder of prudential bache securities
shultz says us economy is strong london oct 20 us secretary of state george shultz after discussing mondays record selling spree on the worlds stock markets with british foreign secretary sir geoffrey howe said the american economy is in very strong shape shultz a former economics professor and former treasury secretary said the underlying fact if you look at the us economy is that we continue to have a very strong economic performance he cited as positive factors declining us unemployment and low inflation
the us agriculture department gave projected carryover free stocks of feedgrains corn and wheat under loans with comparisons as follows in mln bushels except feedgrains which is in mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 under regular nine month loan wheat 225 300 678 678 feedgrains 521 681 757 757 corn 1800 2400 2589 2589 special producer storage loan program wheat 165 150 163 163 feedgrains 70 67 53 53 corn 200 200 147 147
italian net official reserves fall in may
louart corp a los angeles investment firm said it raised its stake in certron corp to 237000 shares or 78 pct of the total outstanding common stock from 164000 shares or 54 pct
cable news network is owned by turner broadcasting system tbs
but to achieve that the countries need to grow
the project was jointly funded by the usda and nppc
amro said it was the second time it arranged a bond with debt warrants for aegon
but zambias decision to abandon last may 1 a tough international monetary fund imf economic recovery program has introduced an element of uncertainty into plans to restructure the ailing industry and boost profitability they said
payment will be made not later than five business days following expiration of the tender offer
specifically the agency said those making tender offers for companies stock must extend the offers if they decide to eliminate conditions requiring a minimum number of shares to be tendered in order for the offers to be valid
in addition it said koba electronics co ltd an affiliate of nippon will buy four mln unissued shares or a 12 pct stake of lifetime for 20 mln dlrs or five dlrs a share
he said interiors study also failed to weigh oil gas fish and wildlife information the state of alaska had gathered nor had the department consulted the environmental protection agency on the possible effects of exploration
shr 13 cts vs 17 cts net 553000 vs 728000 revs 69 mln vs 75 mln nine months shr 17 cts vs 18 cts net 732000 vs 776000 revs 185 mln vs 182 mln noteshare earnings reflect 5 for 4 stock split effective july 31
the bank of japan will sell tomorrow a total of 800 billion yen worth of financing bills from its holdings to help absorb a projected money market surplus of 1700 billion yen money traders said
indonesia cannot spend its way out of recession and has very limited economic options due to lower world oil prices central bank governor arifin siregar was quoted as saying by the official antara news agency
the issue is available in denominations of 5000 dlrs and will be listed in luxembourg
both the ministry and central bank officials who declined to be named noted the us no longer wants to see a further decline of the dollar because that could also fan inflationary expectations in the us thats why baker did not fail to add that the louvre agreement is still operative the senior ministry official said
the company said the feasibility study calls for gold production averaging 41000 ounces a year for the life of the mine and 50000 ounces a year over the first three years with 99000 ounces of silver per year being produced over the miune life
morgan olmstead kennedy mokg names pres
international coffee organization ico exporters will modify their new proposal on quota resumption before presenting it to importers tomorrow ico delegates said
pearson coordinator of the airlines merger activities will become chairman and chief executive officer of aircal during the period up to completion of the merger
the company said morgan stanely and co inc is advising it on the sale of the business
in february brazil had contracted to buy 125000 bpd from the saudis until june
shr loss six cts vs loss 88 cts net loss 123840 vs loss 1298377 revs 1333416 vs 385146 year shr profit six cts vs loss 147 dlrs net profit 124872 vs loss 2171011 revs 4618232 vs 2959141
for the time being we will have to focus our policy more on the external side and we can live with a more expansionary money supply
edf issuing five billion french franc bond
the japanese aides here for the technical talks include shigeru muraoka director general of international trade policy of the ministry of international trade and industry miti and masashi yamamoto deputy director general of the information and machinery bureau
the stake had been acquired from telecom plus international inc
michael said the breakout projects gains to 103 in june t bonds and there is an outside chance to reach 106 keefe warned however that confirmation also is needed from other technical indicators such as relative strength indexes and short term momentum indicators
1986 3rd qtr and nine mths oper net excludes tax carryforward gains of 7446000 dlrs and 9814000 dlrs respectively
it reflects their the executives belief that they are seeing the bottom of the economic cycle he added and with just a few reasonable breaks this industry can begin to move again the energy industry was hard hit by the sharp drop in oil prices which fell from around 30 dlrs a barrel in late 1985 to as low as 10 dlrs in mid 1986
jan van moerbeke a male nurse said on coming off the herald of free enterprise that he had found six people on top of the vessel who were dead
honduras will tender march 26 under pl480 for us and non us flag vessels to import 1500 tonnes of tallow in bulk an agent for the country said
spanish unemployment falls slightly in march
qtrly div 25 cts vs 25 cts pay may 15 record april 15
investors remain cautious of the dollar which though recently stable still has potential downside risk
ghana to buy crude oil from iran
transfer payments narrowed to a 140 mln dlr deficit last month from a 185 mln deficit a year earlier and a 225 mln deficit in january
csr said the generous offer price reflects the cost savings which will flow from integrated management of csrs and pioneers raw sugar mills and building materials businesses
the lme also has a much more viable liquidity base for a new contract compared to the comex market in new york where high grade aluminium futures are not particularly active they said
qtly div 25 cts vs 25 cts prior pay may 4 record april 20
in the first three months of 1986 the company lost 150000 dlrs
du plessis said no political demands were made by the banks and south africa was now rapidly returning to very good relations with its foreign creditors
the convertible eurobond issue announced yesterday for genentech inc geneo has been increased to a total of 150 mln dlrs from 100 mln credit suisse first boston ltd csfb said as lead manager
he said a slowdown in west german economic growth had been caused by sharp exchange rate swings and that the paris agreement should help in this respect
earlier the company reported 1986 net income of 1112 mln dlrs or 257 per share versus net income of 1249 mln dlrs or 289 dlrs a share in 1985
yugoslavias debt refinancing timetable is to be considered by the paris club at the end of this month
anticipated higher energy and raw material costs combined with current market trends were cited by the company as reasons for the increases
exports in 1985 86 are estimated at 2777 mln tonnes vs 2762 last month
frontier texas corp 2nd qtr nov 30 net
final trust for thrift institutions payout set
the new company will be directed by a six member board with three representatives each from pdvsa and union pacific
commerce secretary malcolm baldrige said he supported efforts to persuade newly industrialized countries nics to revalue currencies that are tied to the dollar in order to help the united states cut its massive trade deficit
schlang said chemlawn could try to find a white knight if does not want to be acquired by waste management
payment date is april 17 and the bond matures on the same date in 1997
but the future rate of decline is very much a function of world oil prices and us government policy lichtbalu said that tax breaks could be used to raise oil production but would only work over time
economists added that the low rate on federal funds indicates the fed is unlikely to add funds agressively through overnight system repurchases unless it feels the need to calm volatile financial markets
prospect group said it bought the stock to establish a significant minority equity interest in the company but does not intend to seek control of brinkmann at the present time
for example the last prime rate increase occurred in june 1984 when banks lifted the rate to 13 pct from 12 1 2 pct after a fed discount rate increase in april of that year
gould gld registers to offer preferred
shr 12 cts vs 10 cts net 1683000 vs 1407000 sales 422 mln vs 288 mln year shr 83 cts vs 70 cts net 11908000 vs 10005000 sales 1603 mln vs 1265 mln
bundesbank officials have already said they favour more discreet rate adjustments through repurchase pacts rather than the more public adjustment of leading rates
great pacific industries inc year net
its montreal plant would provide ethylene as a raw material for the project
interest rates fell sharply and wall street became a one way street up
the european commission authorised the export of 65000 tonnes of free market barley at todays tender at a maximum rebate of 13875 european currency units and 55000 tonnes of french maize at 130 ecus grain traders here said
la electricidad ceased principal payments under a five year refinancing plan last year althouigh interest has been paid the officials said
swedens balance of payments on current account showed a deficit of 500 mln crowns in january after a shortfall of 100 mln in december central bank figures showed
the naira finished at 38050 to the dollar against 39050 last week
standard said both oil and gas production increased last year to 726600 barrels per day from 719700 barrels the previous day and to 1544 mln cubic feet daily from 101 mln in 1985
the oecd said japans gross national product was likely to gorw an annual two pct in 1987 and 1988 below 1986s 25 pct growth
high aggregate demand arising from low inflation trade liberalisation and disciplined financial management are expected to increase output in the manufacturing sector he said
snyder soi buys stake in cenergy
the document was prepared by a private committee formed by prime minister yasuhiro nakasone and led by former bank of japan head haruo maekawa
shr profit 16 cts vs loss 140 dlrs net profit 3000000 vs loss 6570000 revs 917 mln vs 669 mln avg shrs 19078072 vs 4708896 note current year net includes nine mln dlr net gain from settlement of litigation
4900 workers the hamtramck plant in detroit 3000 workers and the body assembly plant in flint mich
caremark cmrko to vote baxter bax merger
mti did not say when the devaluation would become effective but it expected new rates to be announced later today
the february trade surplus narrowed to 235 mln dlrs from 582 mln in january compared with a deficit of 98 mln dlrs a year ago
baldrige concerned about korean taiwan deficits
philip crosby associates pca earnings delayed
turkeys gross national product grew an estimated 80 pct in 1986 at fixed 1968 prices compared with 51 pct in 1985 the state statistics institute said
the fcc has not said when it would rule on the appeals according to a spokemsan for akron ohio based gencorp
combustion said it expects further restructuring of core businesses particularly lummus crest this year through staff reductions downsizings and the consolidation of facilities
shr loss 45 cts vs loss 134 dlrs net loss 1240000 vs loss 3621000 revs 6264000 vs 4626000 year shr loss 90 cts vs loss 201 dlrs net loss 2487000 vs loss 5406000 revs 208 mln vs 217 mln
jardine matheson profits seen up sharply in 1986
interest rates responded quickly to the deficit news with 90 day bank bill yields falling to 1642 1645 pct from early highs of 1650 and yields yesterday as high as 1665
mclean said it is requesting the bankruptcy court to schedule a hearing on its motion to approve the agreements adding that the court has granted the companys request to extend for 90 days the period for the shipping companies to file a proposed plan of reorganization
they said the presidents economic policy council looked at japans adherence to the 1986 us japanese semiconductor pact yesterday and that an announcement may be made shortly
aldershot will pay a certain number of shares of common stock based on book value and up to a maximum of one mln shares under a formula linked to the next five years pre tax net revenues
this year we have a crop of 35 mln bags we have economic problems and we are not in a position to do favours
producers have so far maintained that buffer stock funds should not help mop up surplus cocoa produced in non member countries such as malaysia
minority interests 31 mln vs 52 mln
shr profit six cts vs loss 451 dlrs net profit 815167 vs loss 12955562 revs 7981022 vs 2954488 year shr profit 16 cts vs loss 722 dlrs net profit 2446100 vs loss 19175931 revs 236 mln vs 146 mln
on monday us navy warships blasted the rostam platform and navy personnel stormed a second platform a few miles away
hackl said that interest margins in the banking business had declined to 271 pct last year from 278 pct the previous year
thirty four workers died in methane gas explosion at a coal mine last thursday
ryoka light metal industries ltd will stop smelting in april owing to high power costs and low prices and mitsui aluminium co ltd has said it stopped smelting in february
he did not say in what form the indonesian protest was made
philippines confirms prepayments on new debt pact
shr one dlr vs 73 cts net 126 mln vs 158 mln revs 3373 mln vs 3152 mln nine mths shr 307 dlrs vs 308 dlrs net 66 mln vs 662 mln revs 159 billion vs 9971 mln
the measure now goes to the full house ways and means committee next week but major changes are not expected congressional sources said
the common stock price was down one dlr to 51 1 8 after the first hour on a volume of over 500000 shares
trade is the most urgent problem facing us canadian relations because of a pressing need to reach a new bilateral pact within the coming months joe clark canadian secretary of state for external affairs said
the bank board said the average effective commitment rate for fixed rate mortgages for single family homes and a 25 pct loan to price ratio with a maturity of at least 15 years was 948 pct in early march
the report said although there was a reduction in foreign trade financing loans in the past year due to a sharp decline in the price of oil and various primary commodities the quantity financed in physical terms of imports was higher
naples agreed to extend the maturity and increase 207 mln dlrs in puntas outstanding loans by nine mln dlrs
it is expected that provisional entry into force will take at least 12 to 14 months from now delegates said
skandinaviska enskilda banken is issuing a 10 billion yen bond due october 23 1992 carrying a coupon of 4 1 2 pct and priced at 101 3 8 lead manager daiwa securities international europe ltd said
texas international co tei 4th qtr loss
heublein said the move will increase the madera winerys efficiency by bringing it close to full capacity and result in the addition of more than 150 employees there
bankamerica said its outstanding loans to brazil currently total about 27 billion dlrs including about 15 billion dlrs in long term loans and 12 billion dlrs in short term loans
chrysler corps 15 billion dlr bid to takeover american motors corp amo should help bolster the small automakers sales but it leaves the future of its 19000 employees in doubt industry analysts say
sorghum producers deficiency payment rate will be 60 cents per bushel based on the difference between the 288 dlrs per bushel target price and the 228 dlrs per bushel basic loan rate
the gazetted price of ppo rose to 7968604 ringgit per tonne from 7198286
while a year ago he was considering taking his franchise operation east of the mississippi river pinola said because most of the franchise banks are now in the west expansion into the midwest must come first
the fixed rate tranche totals 352 mln dlrs
comb cmco makes acquisition
david morrison of goldman sachs international said world market turbulence will be exacerbated if the group of seven g 7 leading western nations confirms a base for the dollar as implied by west german finance minister gerhard stoltenbergs remarks that intervention to support currencies is still on
chrysler lamborghini still in joint venture talks
he said the company which markets advanced computer aided engineering design and manufacturing systems plans to double its dealers to 50 during the coming fiscal year
loctite loc sees better than expected net
borrowings in the latest two weeks averaged 393 mln dlrs a day the highest since the statement period ended january 28
the earnings results for the fourth quarter were also unchanged
china has closed the second round of bidding by foreign firms for offshore oil exploration rights the china daily has reported
qtly div 13 cts vs 13 cts prior pay april 20 record april 10
economic analysts said the strike was of serious concern to the government which has already had to suspend interest payments on part of brazils foreign debt following a drastic deterioration in the countrys trade balance
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
gencorp said the partnerships offer is a bargain price acquisition that was using financing from a syndicate of banks that does not yet exist and a bridge loan from shearson lehman brothers that shearson is not obligated to provide reynolds also said the offer would result in a radical alteration and selloff of gencorps assets including aerojet general to refinance general acquisitions borrowings with the profits going to wagner and brown and afg instead of shareholders
regency cruises ship sells ship interest
i think theyll be on a very solid base when they make the decision to launch the reforms
a prolonged dry spell has damaged 111350 hectares of rice and corn plantations in 10 provinces in the central and southern philippines agriculture officials said
the agencys holding of us government securities yielded a return of 207 pct for the year significantly more than either the 141 pct earned on the total bond portfolio or the 135 pct for all funds under management
well make some progress in reducing the 170 billion dlr trade deficit in 1987 but theres still a long way to go yeutter said
production at trail and kimberley has been shut down since the strike began may 9 and cominco has had to declare force majeure which means the company may be unable to honor contracts for products from the smelter and mine
private analysts generally agreed that going after the rig rather than an onshore economic or military target such as silkworm launch sites reflected a careful bid by washington to limit the political military and diplomatic fallout both at home and in the gulf
the groups other three divisions specialty steel capital goods and trading had made a profit so far in 1986 87 he added
more of economic growth now depended on domestic consumption the cpb said but noting that higher margins set by domestic producers and importers mitigated the effect on purchasing power of lower import costs and deflation
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
ecuador yesterday said last weeks earthquake was forcing it to reaffirm an earlier decision based on the slide in world oil prices to suspend debt payments to private foreign banks which hold two thirds of its 816 billion dlr foreign debt
it said citicorps proposal properly may be viewed as the permissible acquisition of certain assets and liabilities of s and l branches rather than the acquisition of an s and l citicorp savings the successor to the failed fidelity savings and loan association has assets of 49 billion dlrs and operates 86 branches in california mainly in the north
debentures and equity shares floated by private companies still account for at least 60 pct of total capital raised in stock exchanges the ministry official said
the south china province of guangdong is importing millions of tonnes of grain a year from overseas and other parts of china because farmers have switched from grain to more profitable crops the peking review magazine said
the volume is 27 pct higher over 1986 sales which totalled 36 mln cubic meters or 226 mln barrels
trees with leaves hit by the fungus disease cannot be saved and must be felled chee kheng hoy head of the crop protection and microbiology division in the rubber research institute of malaysia rrim told 
in a filing with the securities and exchange commission charter oak said it bought 180000 facet common shares on june 12 at 1825 dlrs each
it said it had received interest from several parties but no agreement has yet been reached
the minimum denomination is 1000 dlrs for notes and bonds aimed at individual investors and 10000 dlrs for the treasury bills which are directed at corporate investors
margaux controls inc margx 3rd qtr loss
but it is the underlying peaks and troughs of the major currency movements which lay bare the real picture in which the plaza pact appears as an event of prime importance but not necessarily central significance the officials said
the selling concession is 1 1 8 pct while management and underwriting combined pays 1 2 pct
transamericans suit alleges that coastla attempted to unlawfully gain control of transamericans texas natural gas reserves and pipeline system
there are now 1425 mln dlrs of these notes outstanding compared to an original issue of 25 mln dlrs sold in september 1985 first federal said
bankers said the governments efforts to stabilise the foreign exchange market were a prelude to lifting all curbs on capital outflows
weisfields inc weis quarterly dividend
mitsubishis share price fell 30 yen to 1200 on the tokyo stock exchange today
wall street analysts and traders had not expected coniston to abandon its pursuit of allegis as a result of the allegis defensive measures
growth in jobs continued in march but was slower than in recent months with the gains concentrated in service industries
the issue can be redeemed early on april 10 1991 1992 or 1993 with 45 days notice
the world bank had not issued floating rate notes so far this year because of the expectation of higher interest rates
petroleos del norte sa petronor runs a 45000 tonne a year plant in bilbao and cia espanola de petroleos sa cepsa plans to put a similar unit onstream next year in algeciras
trade sources said the strike did not affect production or todays colombo auction
he told a press conference that the growth of japanese money supply remains high
damaging transport and electricity strikes over christmas and the new year partly blamed by the government for higher inflation had undermined the unions power and popularity he said
mts said sosnoff has asked the company to fix march 27 as the record date for the determination of shareholders entitled to authorize action without a meeting including the election or removal of directors
of the 13 billion dlr frozen debt 35 billion dlrs was owed by the public sector and 95 billion dlrs by private industry du plessis said
dixons retains one mln woolworth shares a dixons spokesman added
nevertheless all 450 seats on simex are now taken with the last trading at 55000 dlrs against the initial price of 50000 dlrs
end february reserves last year were 2758 billion dlrs
careplus inc said it will seek shareholder approval of its proposed acquisition of certain assets and assumption of certain liabilities of professional care inc pci in connection with the acquisition shareholders will be requested to approval the merger of careplus into its newly formed delaware subsidiary careplus said
the liquidity is the reason for the recent boom of stock exchange prices the bank official said
japan will ask companies to boost imports
besides expressing its support the governments brazilian democratic movement party pmdb urged sarney to keep on with his decision up to the last consequences conducted by veteran party leader ulysses guimaraes head of brazils constituent assembly the pmdb praised finance minister dilson funaro for his courage to propose suspension of interest payment of the debt for an indefinite period
american software amswa sets stock split
duff and phelps said it lowered the ratings on duquesne light company fixed income securities affecting approximately 18 billion dlrs in debt
in a statement the bank of ireland noted that the us paper market will provide it with a new source of funding
shr loss one ct vs loss seven cts net profit 108419 vs loss 241192 revs 2044882 vs 317266 year shr loss 18 cts vs loss 23 cts net loss 430027 vs loss 432982 revs 5088065 vs 416777 note share after preferred dividends
maxtor corp said it bought privately held storage dimensions inc for an undisclosed sum
deutsche bank ag co chairman f
the main worry from todays speech is the outlook for inflation given the signs of relaxed monetary policy contained in it scrimgeour vickers economist richard holt said
also the a 1 debt of standard oil and sohio pipeline and debentures of sohio bp trans alaska pipeline guaranteed severally and not jointly by bp and standard
shr loss 24 cts vs loss 20 cts net loss 1718000 vs loss 1483000 sales 7266000 vs 6490000 year shr loss 183 dlrs vs loss 53 cts net loss 132 mln vs loss 3833000 sales 191 mln vs 295 mln note 1986 year net includes pretax realized loss on secureity transaction of 4124000 dlrs
dealers said that federal funds were trading at 6 1 8 pct when the fed announced the operation
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
nspa gave the following breakdown of the soybean crush for the week with comparisons in 1000 bu 4 08 87 4 01 87 year ago illinois 2576 3479 x ind ky ohio 3586 3376 6053 y south east 3871 3791 3058 south central 1631 1934 1563 south west 2426 2334 2183 iowa 3450 3550 2815 minn nd sd 1875 1651 1488 total us 19416 20115 17160 x ill not reported exclusive of ind ky and ohio in year ago period
the chubb corp said it completed the previously announced merger of its subsidiary with and into sovereign corp sovr a life insurance holding company
only banks may be commissioned to handle the clerical business of principle payments they added
gaf currently carries ba 2 sinking fund debentures and b 1 senior subordinated notes and debentures
the united states said that dumping has stopped in the us market but has continued in third countries and that the japanese market remains closed
allied lyons plc sees rising profits from 51 pct owned liquor producer hiram walker gooderham and worts in the current fiscal year ending in early march 1988 chairman derrick holden brown said in a speech prepared for delivery to toronto analysts
the house of lords ruling on the use of itc documents will be referred back to the action by two shearson lehman companies against the london metal exchange although the underlying case is not expected to be resumed until mid 1988
qtlry div 245 cts vs 245 cts pay april 6 record march 16
nor quest nqrlf makes bid for northair nrmto 
greene produces and sells dental x ray tabs mount products and record systems
champion parts rebuilders inc said it asked the federal district court in chicago for a declaratory judgment upholding its recent 54 mln dlr sale of common shares and warrants to echlin inc ech champion said in hearings thursday morning before the federal judge on its lawsuit charging federal securities law violations against cormier corp odilon cormier morris navon and other defendants the cormier navon defendants indicated they would challenge the transaction
an agreement in the debt rescheduling talks between the philippines and its commercial bank advisory committee seems to be close at hand said david mulford assistant secretary of the us treasury
the communciation was sent through switzerland which represents american interests in iran
zccm officials declined to comment on the report but standwell mapara general manager of the tanzania zambia railway authority tazara told recently virtually all zambian mineral exports had been channelled along the tazara line to dar es salaam for the last three months
others have less formal agreements with the parent like general electric credit corp ge whose aaa rating reflects its parents general electric co
the commodity credit corporation ccc accepted eight bonus offers from two exporters on sales of 190000 tonnes of hard red winter and 35000 tonnes of soft red winter wheat to jordan the us agriculture department said
west germany will still need ministers final approval for such a plan
boliden to announce major corporate takeover official
the english language daily said bigger export earnings were needed to finance not only imports but also the countrys growing foreign debt estimated at around 37 billion dlrs
in manilas case about 40 pct of the 15 billion dlrs outstanding to commercial banks is owed to the 12 large banks on the advisory committee while about 180 smaller banks have average exposures of 20 mln dlrs each
killian a simex board member said the cbot night session might raise arbitrage opportunities and simex would benefit from a local stock exchange index contract planned for the end of 1987
mtech corp said it expects to file shortly for an offering of subordinated debentures convertibe into common stock
it would take about five months to repair the pipeline to balao government officials said
oecd europe zinc stocks rise in january
woodside petroleum ltd wplas 1986 year
deregulation is taking place everywhere
existing 500 franc b tranche certificates would be split five for one
companys full name is richarson electronics ltd
prior nine mths net includes pretax gain on sale of marketable securities of 493000 dlrs
centerior energy corp cx sets quarterly
brazil still seems willing to talk to the fund under the annual discussions that all imf members undertake conable said adding that this could partially solve the current stalemate
the balls in our court now one banker on the committee said
but he did not say what if any changes are under consideration
we expect the same performance in net income over the next five years as we have had in the past ziering said
oper shr loss 20 cts vs loss 19 cts oper net loss 7001000 vs loss 6761000 revs 930 mln vs 906 mln avg shrs 352 mln vs 348 mln year oper shr profit 10 cts vs profit 65 cts oper net profit 3419000 vs profit 226 mln revs 3817 mln vs 3850 mln avg shrs 338 mln vs 349 mln note net excludes debt retirement gain 2001000 dlrs vs loss 316000 dlrs in quarter and losses 159 mln dlrs vs 1714000 dlrs in year
closing was expected by march 31 they added
independence said the merger will be accounted for as a pooling of interests
merrill mrll buys frayn financial printing
if banks were short of liquidity until the bills matured on tuesday rates could soar perhaps to the 550 pct lombard ceiling
kelsey hayes canada ltd kelto nine mths net
melnikov noted that he has seen no indications from soviet government officials that they would be pushing for a renewal of the agreement
affiliated publications to buy billboard publications for 100 mln dlrs
beghin say increases capital to finance expansion
nwa shares rose 1 5 8 to 74 3 8 in active trading
the communique said iranian revolutionary guards were under assault from warplanes helicopter gunships heavy artillery and tanks
mthly div 66 cts vs 66 cts prior pay march 31 record march 16 note franklin minneosta insured tax free income fund
the department said that energy prices again were the main reason with the index for intermediate energy up 27 pct
the bond guaranteed by parent deutsche bank ag is available in denominations of 1000 and 10000 dlrs and will be listed in luxembourg
nissan motor co ltd nsant is issuing a 35 billion yen eurobond due march 25 1992 paying 5 1 8 pct and priced at 103 3 8 nikko securities co europe ltd said
terms of the acquisition were not dislcosed
trade sources say prices might boom once again if the crisis leads to output below the 1987 target of 143000 tonnes
the japanese car maker daihatsu motor dmott and three trading houses including mitsui co ltd plan to export production facilities to polands state owned car maker fso to make the charade minicar according to mitsui officials
as a result riyal deposits were strongly bid and traders scrambled for any available offers
these conditions are that offers from registered companies should be in pounds sterling for cocoa beans for which standard differentials have been set in the iccos buffer stock rules and can be for cocoa afloat through to december shipment and spot to december arrival delivery
the miners statement said police had violently evicted comibol office workers in the city of oruro after they began a hunger strike yesterday
the company said an aggressive program of investment spending to maintain or increase market shares its its two core businesses will accelerate sales growth this year but hold back increases in operating income in the near future
chief operating officer jeffrey lane got the added previously vacant post of president
the spinoff of hancock textile co a chain of 324 retail stores was one of the key parts of the restructuring program
dallas based lcb is a privately held maker of structural steel joists and rack and storage handling systems
asked about the options offered this week by us energy secretary herrington to increase us production mcivor said he could not comment on subjects like the oil depletion allowance now but the thrust of his herrington report is valid
the heller approach while extremely complex could have a profound impact on the system ideally stabalizing prices and international exchange rates
rosenmuller said there would be a meeting of the sectors 4000 workers this afternoon to decide on further action in the campaign of lightning strikes that began on january 19 in protest at planned redundancies of 800 starting with 350 this year
we have a commitment to our customers and i would not like to comment on that madrid said
the balance will be funded by debt battery group said
there will be no solution without the further development of trade throughout the world director of public credit angel gurria told reporters that mexicos economy should resume growth this year but he said external conditions are not favorable
the group said the funds would be used to cut borrowings which had risen to 234 mln stg at end february largely as a result of the takeover of ae plc the company also reported pretax profits rising to 447 mln stg from 396 mln previously
franklin utilities fund sets payout
asked if he saw the need for a greater military presence by the allies in the gulf shultz told reporters not necessarily particularly so but he said an adequate force was needed to deter attack and noted that the british and the french as well as the united states maintained naval contingents there
pacific gas and electric cos plan to change its accounting methods for nuclear plant revenues together with the prospect of higher higher domestic interest rates helped push the companys stock price down 2 1 8 to 22 utility analysts and company executives said
it was lead managed by den danske bank
options which meet herringtons criteria include loan price guarantees to shield banks from defaults by borrowers because of lower oil prices
investor group puts pressure on gencorp gy 
i do anticipate a significant increase by 2000 thirty three dlrs a barrel is not unreasonable hodel told the senate energy committee
for one thing it is unlikely that there will be any new investment in those manufacturing industries that shrank when the dollar was at uncompetitive levels he said
louisiana sweet also was lowered 150 dlrs to 1635 dlrs the company said
ghana cocoa purchases still ahead of last year
australian wheat exports in 1986 87 are forecast at 1450 mln tonnes vs 1450 mln tonnes last month while exports in 1985 86 are estimated at 1596 mln tonnes vs 1596 mln last month
both for 15 billion yen due 1992 the first for eksportfinans was at five pct and 103 pct led by mitsubishi finance international
schlumberger slb ends pact to sell fairchild
kentucky central life kenca sets payout
sugar producers here said the volume of sugar authorised for export since the begining of the current campaign had been inadequate and that more should be exported now to compensate
it said the purchase includes 35 restaurants in ohio operates by sisters giving sis a total of 55 restaurants and franchise relationships in six midwestern and southern states
general partners a partnership of privately held wagner and brown and afg industries inc afg made the disclosure in a newspaper advertisement
broad acquires vogt and conant unit
data on 1986 capital flows between west germany and the netherlands have not yet been released but in 1985 they accounted for only 10 pct of total trade flows between the two countries put at 110 billion guilders for 1986 by the dutch german chamber of commerce earlier this month
fees are 1 1 4 pct for selling and 5 8 pct for management and underwriting combined
the directors of the company called a special meeting and recommended its dissolution last month citing falling volume and increasing costs
we welcome the statements from world leaders that urge calm in the present difficult situation she added
macdonald said the group will be based outside of frankfurt w
the court is due to make a final ruling on may 7 but zeebregts said he expected the judgment to go against the employers and they were therefore very likely to restart the complicated legal redundancy procedures in the near future
botswana exports much of its high grade beef to the european community and augments its local supplies with meat imports from zimbabwe
the republic of finland filed with the securities and exchange commission for a shelf offering of up to 550 mln dlrs of debt securities including notes and bonds and or warrants to buy debt securities on terms to be determined at the time of the sale
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
cable shares were quoted seven pence lower in morning trading at 367p
saudi arabian oil minister hisham nazer reiterated the kingdoms commitment to last decembers opec accord to boost world oil prices and stabilize the market the official saudi press agency spa said
nz february current account deficit narrows
hudson bay mining cuts us canada zinc prices
jc penney cos stock rose sharply after analyst william smith of smith barney recommended the stock based on the companys strong earnings momentum and the possibility of a stock buyback dividend hike or stock split traders said
the iranian steam tanker avaj 316379 tonnes dw was attacked and hit at 1715 hours on march 21 lloyds shipping intelligence service reported
terms were not disclosed
southwest said it will issue 11 shares of its no par value common stock in exchange for each preferred share
african trade sanctions
in 1987 88 the quota will rise to 177000 tonnes from 168000 in 1986 87 ministry officials said adding japan wants to keep self sufficiency in beef at around 70 pct
local broking houses have been contributing a 0125 pct levy on share transactions to the scheme but will no longer do so the statement said
michigan general mgl gets offer commitments
during the year the company began operating a sulphur granule plant with capacity of 4000 tonnes per day the report said
fairchild industries fen sets regular payout
redstone was not available for comment
a high ranking advisory body headed by former bank of japan governor haruo maekawa is expected to come up with a final report outlining concrete steps to redirect the economy days before nakasone is scheduled to leave for washington
ny analysts see coffee futures falling further
ccf reports 348 pct profit boost share split seen
swedish match ab smbsst 1986 year
acme cleveland corp amt sets quarterly
the group said that since its last sec filing made jan
groundnut production is planned to increase by 13000 tonnes or 57 pct by 1991 and exports by 9000 tonnes or 82 pct
harcourt last week said it would pay 40 dlrs per share to stockholders as a special dividend
it follows the announcement yesterday of a 1 4 point rise to 7 3 4 pct of two of the largest us banks prime rates
health and rehabilitation properties trust said it reached an understanding to purchase three nursing facilities in mass
glaxo profits up sharply dividend raised
such spending totaled 318 billion dlrs last year down from 531 billion in 1985
it takes around 15000 kilowatt hours kwh of electricity to produce one tonne of primary aluminium compared with around 550 kwh for one tonne of secondary metal shearson said
the issue has equity warrants attached and late in the day it was quoted on brokers screens at 106 1 2 bid only
the us senate agriculture committee approved a measure that would exempt farmers who planted alfalfa or other multiyear grasses and legumes between 1981 and 1985 from a federal conservation requirement
but we need more effective methods of managing them so as to limit the volatility which has caused so much concern and damage
hall will assume the duties of chief executive officer
caisse daide a lequipement des collectives locales caecl is issuing a 12 billion yen eurobond due march 31 1994 paying 5 1 8 pct and priced at 102 pct lead manager mitsubishi trust international ltd said
chase cmb buys borg warner bor unit
the agency said it rejected an assertion by air north america which currently is not operating but plans to start service to some of the cities served by usair and psa that the acquisition would lessen chances of new entry into those markets by other carriers
south western is one of the us s leading manufacturers of heat transfer equipment with a turnover of 5486 mln dlrs and pre tax profits of 172 mln in 1986
its a totally different situation he said
general instrument corp grl 1st qtr may 31
us m 1 money supply fell 600 mln dlrs to a seasonally adjusted 7380 billion dlrs in the march 2 week the federal reserve said
siemens ags siegf fully owned subsidiary siemens informations systems inc
china remains a cautious and popular borrower they said
malaysian primary industries minister lim keng yaik welcomed the basic accord reached over the weekend in geneva between producers and consumers on a new international natural rubber agreement inra this is a good development and if a new pact is adopted this week it will augur well for the rubber industry and prices in the long term he told here
the research team led by dr
union national unbc signs definitive pact
the company said it previously determined a write down of conventional oil and gas properties was not required at september 30 under the previous method of calculating the limitation of oil and gas values
walgreen co 2nd qtr shr 62 cts vs 58 cts
joint venture was organized in september 1986 to establish leasing joint ventures with manufacturers and vendors of computer equipment
fathi projects asarco will earn one dlr in 1987 and from three dlrs to 325 dlrs in 1988
canbra foods ltd year oper shr profit 152 dlrs vs loss 55 cts
ivaco earlier reported 1986 profit rose to 441 mln dlrs after a one mln dlr extraordinary gain from 351 mln dlrs the previous year
financial security fsslao to be acquired
this compared to a revised 04 pct decline in january previously reported as a 01 pct decline
the international challenge implicit in our huge trade deficit has become the 1980s equivalent to the launch of sputnik by the russians in the 1950s when we suddenly feared we were to be left in the wake of soviet technological achievement he said in an address to florida educators
shr diluted loss 46 cts net loss 6300000 nine mths shr diluted loss 1089 dlrs net loss 309100000 note no comparisons because company was formed in june 1987 through merger of republicbank corp and interfirst corp
republic american corp rawco 3rd qtr net
miyazawa also said he told major industrial nations when he was in washington last week that present exchange rates are not necessarily good
fed expected to add temporary reserves
foote mineral fte sells cambridge plant
new measures have been introduced to boost the private sector and attract foreign investment
he said the quality of five to six year old rubber in stock was uppermost in consumers minds
improved weather and a further increase in the use of intensive cultivation methods could therefore see a marked rise in soviet maize output in 1987 the iwc said
government to sell 25 pct of air new zealand
qtr ended dec 31 shr nil vs nil net loss 59922 vs loss 357203 revs 714263 vs 926964
the international cocoa organization icco buffer stock working group began examining a draft proposal for buffer stock rules this afternoon delegates said
zccm officials said the production of cobalt another strategic income earner will also be tailored to meet demand
fed expected to add reserves in money market
kansas said that southerns management had estimated the value of the railroad in 1983 in the range of 281 mln dlrs to 12 billion dlrs
restaurant associates raa sets 1st qtr gain
rospatch said it advised diagnostic retrieval that it would be contrary to the best interests of the corporation to engage in any discussions concerning a business combination with diagnostic retrieval
shr 22 cts vs 17 cts net 1232000 vs 834000 sales 241 mln vs 209 mln avg shrs 5609000 vs five mln year shr 97 cts vs 69 cts net 4985000 vs 3426000 sales 924 mln vs 779 mln avg shrs 5153000 vs five mln
the company normally pays quarterly preferred dividends totalling 619000 dlrs from retained earnings equity silver said
for purchases of more than 250000 dlrs the notes carried a price of 9920 to yield 7599 pct or 61 basis points over treasuries
a swiss monetary source who asked not to be named said the communique had been in line with realistic expectations and should not have produced disappointment
italys budget ministry said yesterday that gdp rose 27 pct in real terms in 1986
iraq says iranian oil network attacked baghdad marckraq said its warplanes attacked the pipeline network through which oil is pumped to irans main oil terminal at kharg island in the northern gulf
but private sector confidence had been undermined by uncertainties over exchange rates it said and warned that for confidence to be restored it is important for governments swiftly to implement internationally agreed commitments this was a clear reference to last februarys louvre accord of the group of five nations plus canada analysts said
the repurchase offer managed by lazard freres et cie opens april 10 and closes april 27
februarys retail sales were 44 pct above the year ago level of 11709 billion dlrs the department said
the traders estimated the surplus today at about 1800 billion yen
the quarterly cash dividend payable april 15 to stockholders of record on april 3 is to be paid on hydraulics pre split shares that are currently outstanding the company said
the company said this brings to 57 the number of bank branch which are part of the nationwide network an alliance of 40 independent locally managed financial institutions locations in florida
bahia blanca wheat 161360
hecla said it estimates its total investment in the project including its share of production costs will be about 45 mln dlrs
each 1000 franc bond carries a warrant entitling the holder to buy one 200 franc nominal ekn bearer share for 510 francs
islamic banks establish 50 mln dlr trade portfolio
south koreas national news agency yonhap said this years current account surplus will near 10 billion dlrs amid signs of continuing high world demand for the countrys cheap cars and electronic goods
both marais and develle said they agreed with that so long as the government kept wages under control
some bankers expect it to rise to 33 by june and to 32 by the end of this year
co lead is pru bache securities
south african year on year consumer price inflation in september fell to 155 pct from 163 pct in august central statistics office figures show
international cocoa organization icco talks on buffer stock rules have slowed during a crucial phase of negotiations delegates said but they remained confident about prospects for reaching agreement by friday
the standard price of other beef mainly produced from dairy steers is set at 1020 yen against 1090 and the ceiling at 1325 against 1420
s and p said it believed afg would make acquisitions of moderate size in the next few years
the company said conteol under the agreement would assume a portion of equatorials rights and obligations under the galaxy iii transponder lease with burnham leasing on the occurrence of certain events
moodys cited cost increases at the utilitys nine mile nuclear unit 2 and an unfavorable rate decision by the new york public service commission
kuwaits oil exports have not been affected by the seven year iran iraq war kuwait oil tanker company kotc chairman and managing director abdul fattah al bader told a kuwaiti newspaper
that is 97 basis points more than the yield of comparable treasury securities
the bonds will be issued as follows
japan four year note auction average yield record low 3714 pct stop 3743 official
rises in interest rates aimed at dampening inflationary pressures also slow domestic demand
net 13185000 vs 6715000 nine mths net 262 mln vs 153 mln note company is owned by a consortium of european banks
new york business loans fall 131 billion dlrs
at this stage of the game id call the market long term positive but for the technical burden of proof you need a close above the previous contract high of 7525 byers said
however usda general sales manager melvin sims told the administration is considering allowing usda to provide its first export credit guarantees for plywood on the grounds it is not a manufactured product
the securities wil be listed on the london stock exchange and will be available in denominations of one mln yen each
anitec image antc sells convertible debentures
the bank said it will offer 100 mln ringgit of 91 day bills and 150 mln of 182 days at a tender closing on april 20
modulaire industries modx 4th qtr loss
us house speaker denies trade bill hurt stocks
consumer prices excluding food and energy rose 03 pct in february in line with previous months although there has been some acceleration noticeable in the us and britain
american airlines to announce buys newspaper says
italian panel urges exchange liberalization
only 650 tonnes of roasted coffee were exported last year
emery said it already has a commitment letter from its banks for up to 1299 mln dlrs for the stock purchases
french retail prices rose a confirmed 02 pct in may compared with a 05 pct rise in april and 02 pct in may last year the national statistics institute insee said
weinberger said us warship movements in the gulf area were not unusual
chemlawn corp said it has asked potential purchasers of the company to submit their proposals by 1700 est on march 18
deloitte haskins and sells an accounting and consulting firm said it bought a stake in holland systems corp a software and services company
araki said he had no intention of limiting prospective market participants to banks but was willing to accept those from wider business circles the sources said
american motors board voted to postpone its annual shareholders meeting scheduled for april 29 in southfield michigan
larger companies are also streamlining
at midnight yesterday 7242117 princeville shares had been tendered up from 5887165 shares 24 hours earlier
us completions of new homes fell 02 pct in january to a seasonally adjusted rate of 1884 mln units from 1888 mln in december the commerce department said
the february rise brought the increase in consumer prices since the introduction of the anti inflation cruzado plan a year ago to 625 pct
branch said he bought the stock as an investment but reserved the right to try to influence the company
it said swaminathan who has headed irri since 1982 will concentrate on environmental and agricultural issues
why would companies import crude when they could import products for a smaller cost if there were only a fee on crude asked henry rosenberg chairman of crown central petroleum cnp an import fee would raise the costs of us petrochemical products and make them noncompetive on the world market dunham said
british securities house barclays de zoete wedd bzw said it would open today a subsidiary office in amsterdam its first office in continental europe
rexnord rex to sell railway equipment unit
sweet victory inc svic year
the redstone offer which is being made through arsenal holdings inc a national amusements subsidiary set up for that purpose which also give viacom shareholders one fifth of a share of arsenal common stock after the takeover
microbiological also said that if the maximum additional capital is raised it will own about 49 pct of 455000 shares of common outstanding in the new combined company datagene holders will own 29 pct and ventana and others will own 13 pct
methode electronics inc metho 4th qtr net
the toronto stock exchange gold index today was up 268 points at 806790
the company which is the successor to ownens illinois inc said it plans to offer 250 mln dlrs of senior subordinated notes due 1996 500 mln dlrs of subordinated debentures due 1999 and 13 billion dlrs of junior subordinated discount debentures due 2003
asamera said holding all its mineral properties in a separate company will give better and more direct recognition to the value of the assets
lvi said an additional 10 mln dlrs in common stock and seven mln dlrs in notes will become payable if spectrum has certain minimum future earnings
shr 33 cts vs 46 cts net 1350000 vs 1886000 revs 1501 mln vs 1279 mln year shr 176 dlr vs 159 dlr net 7300000 vs 6567000 revs 548 mln vs 5105 mln note first three quarters of 1986 have been restated to reflect adoption in 4th qtr of new pension accounting procedure which increased net income in first three qtrs 204000 dlrs or five cts per share
the bank also posted a 66 mln dlr extraordinary loss in fiscal 1986
in 1986 morris earned 620 dlrs a share
the sale comprised 749 mln shares at 2725 nz dlrs a share and 2095 warrants at 1709 dlrs each
us takes tough stand on gatt farm issues
shr 52 cts vs 49 cts shr diluted 195 dlrs vs 199 dlrs net 1751609 vs 1622503 sales 859 mln vs 851 mln year shr 210 dlrs vs 199 dlrs shr diluted 195 dlrs vs 199 dlrs net 6822493 vs 6601717 sales 3478 mln vs 3246 mln
for the past year the dollar in the parallel market is being sold at 25 to 100 pct above the official rate
colombian inflation stable at around 20 pct
regency cruises inc ship 4th qtr net
mayfair super markets inc myfra 2nd qtr net
april deliveries made 12750 and june 12950 stg per tonne basis liverpool
the ec is worried
phillip seng asian director of the us meat export federation told the two pct cut in prices is a step toward closing the gap with european community prices about half those in japan
in a filing with the securities and exchange commission harris said it bought 81001 centerre common shares between jan 2 and march 4 at prices ranging from 3600 to 3975 dlrs a share
standard and poors corp said it cut to ccc from b minus international rectifier corps 58 mln dlrs of convertible subordinated debentures due 2010
soviet figures show economy still short of targets
shr loss 11 cts vs profit six cts net loss 217200 vs profit 83200 revs 3564200 vs 3171900 avg shrs 2033750 vs 1334950
the new interest rate applies to the second quarter
the repurchase window uses government bonds as an instrument with which commercial banks can borrow from or lend to the state bank
us consumer prices rose 04 pct in february
stockholder systems inc said it has agreed in principle to acquire privately held software concepts inc which provides software for check processing mortgage application processing and safe deposit box accounting for undisclosed terms
standard gained 6 3 4 to 71 5 8
brady emerys chairman john c
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
japanese banks lend 20 billion yen to greece
the issue is guaranteed by sanwa bank ltd and is available in denominations of 5000 dlrs
the issue has a call option and put option after four years at par and is guaranteed by union bank of switzerland
japan imports about 50 pct of its lpg from saudi arabia
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
baker said in my view they have not rejected it out of hand at all and that it will be considered should we choose to advance it at the april meeting a us contribution of that size would lead to an effective four year lending program by the bank of 229 billion dlrs
the estimate came in mts acquisitions proxy statement to caesars world shareholders describing its offer of 28 dlrs a share for their stock which was announced this morning
the american petroleum institute said that us crude oil production in february declined 98 pct from year ago levels to about 83 mln barrels a day
sarlen and associates inc said it completed its private placement of 125 mln dlrs of five year eight pct senior subordinated notes with warrants to purchase common and 25 mln dlrs of 12 pct series a preferred with warrants to purchase common
unemployment in 1987 is put at 55 pct in line with last year the office predicted in its regular review
among the credit categories auto credit rose in february by 717 mln dlrs after increasing 416 mln dlrs in january the fed said
seven oaks qpon in telemarketing venture
bank assets climbed to 276 mln dlrs from 240 mln dlrs in 1985 it said
qtly div 35 cts vs 35 cts prior pay april one record march 14
new foreign shipbuilding orders received by japanese yards in february rose to six vessels totalling 329999 gross tons from three ships of 79499 tons in january the japan ship exporters association said
funds in investment trusts alone totalled 21918 billion yen up 374 pct from a year earlier
bankers said sama has proved it is not prepared to see a saudi bank go under and not only supported saudi cairo bank after its troubled 1985 accounts came to light but also made available cheap deposits to saudi investment bank and uscb
covington technologies inc covt year net
the apt sat offer includes a provision for cgct to produce apt 5ess prx switching technology and adapt it to french standards
nz foreign reserves fall slightly in february
german february capital account deficit 753 billion marks vs jan 1191 billion surplus bundesbank
beghin say is also planning to finance european expansion for its kaysersberg subsidiary another major reason for its capital increase
earlier this week the bank sanctioned a cut in bank interest rates in a surprise move which aimed at limiting sterlings rise ahead of the march 17 budget
welbilt corp said it completed the previously announced acquisitions of the assets of l and m manufacturing co and food machinery engineering co two manufacturers of automated bakery production equipment headquartered in toronto
santos which is 15 pct owned by elders resources yesterday said its bid valued tmoc at 2485 mln dlrs
the conversion period will run from april 20 1987 to march 20 2002
because the coins were classified as legal tender their purchase did not show up in the statistics on consumer expenditure
us sells 3 mo bills at 598 pct stop 599 pct 6 mo 608 pct stop 610 pct
twa twa sues usair u over poison pill
producers and consumers indicated support in principle for the draft buffer stock rules package formulated over the past week by a small working group consumer delegates said
broker boosts zondervan zond stake to 71 pct
fees comprise 7 8 pct selling concession with 1 2 pct for management and underwriting combined
laidlaw transportation ltd
commercial paper outstanding nationally fell 480 billion dlrs to 33428 billion
iraqi warplanes also struck irans offshore oilfields at nowruz cyrus and ardeshir in northern gulf some 80 km 50 miles west of kharg island todays communique said
internal demand rose and the export situation improved in particular toward the european community ec the bank said
butlers livestock systems division was sold to an investor group including the president of the operations and certain control division assets were sold to minneapolis based enercon data corp
speaking at the opening of the 40th hanover industry fair bangemann said radical changes in foreign exchange parities had left their mark on exports and investments
in a filing with the securities and exchange commission warburg pincus said one of its top executives rodman moorhead who is also a symbion director met april 1 with symbions financial advisor lf rothschild unterberg towbin inc
caledonian airmotive repairs and rebuilds aircraft engines
among the main factors affecting liquidity bills maturing in official hands and the take up of treasury bills will drain some 525 mln stg while bankers balnces below target will take out around 175 mln stg
deluxe has held an interest in data card since 1975 when it provided funds for data card to buy troy computer products corp
treasury bills will remain a basic monetary tool he said
ball corp said it was awarded a one year 12750000 dlr contract to supply copper plated zinc penny blanks to the us mints in philadelphia and denver
hackl said that in january and february this year the banks credit business had not livened up
lower bid minimums on outer continental shelf acreage to spur exploration
goodrich said it is prepared to discuss with officials of the united rubber workers union severance benefits for affected employees and issues related to the continued operation in akron of the chemical and adhesives businesses and to the phaseout of the akron aircraft tire missile and marine and molded rubber products manufacturing
sales were 944 mln dlrs
harkin cited what he termed excessive net returns on equity over five years of 334 pct at kellogg 319 pct monfort 228 pct nabisco 228 pct conagra 212 pct hj heinz 191 pct ralston purina 172 pct pillsbury and 167 pct quaker oats
all equity and fixed investment flows of foreigners take place through the financial rand which is considered the main barometer of south africas attractiveness to overseas investors
but i think if theres any sign of a dip it will be bought back up again pretty quickly he added
outokumpus turnover in 1986 was 758 billion markka
pay n pak said that the proposal from a leveraged buyout firm had been amended to increase the dividend rate on the cumulative preferred stock to be received by pnp shareholders from 135 pct to 175 pct
ambrit inc abi 4th qtr jan 31 net
canada plans to monitor steel imports exports trade minister says
the federal reserve entered the us government securities market to arrange 25 billion dlrs of customer repurchase agreements a fed spokesman said
caltex and shell will set prices of 015 gm lead at 968 cents litre for 97 octane and 902 cents for 92 octane
it is projected by the government to rise to more than 50000 tonnes by 1988
notes on us supply demand tables na not available
from a weather standpoint you can say with certainty that the soviets are not getting off to a good start and will have a lower crop than last year gail martell chief meteorologist for ef hutton said
net includes loan loss provision 550000 dlrs vs 203000 dlrs gain on sale of securities of 309000 dlrs vs 638000 dlrs and gain on sale of loans 403000 dlrs vs 553000 dlrs
there are likely to be at least 10 participating banks and perhaps as many as 28 they said
the actions affect a combined 662 mln dlrs of securities
they back recent statements by opec ministers that the group is producing within its ceiling to support the return to a fixed price system which came into effect last month
us grain carloadings totaled 26108 cars in the week ended february 21 down 22 pct from the previous week but 228 pct above the corresponding week a year ago the association of american railroads reported
kaufhof considering taking stake in hapag lloyd
alternatives which could be imagined before such as bringing the imf in with us in a loose form are over he said
the statistics office said producer prices for natural gas had fallen 30 pct in march against february heavy heating oil prices were 32 pct down liquefied gas prices fell 14 pct and coffee was 74 pct cheaper
a monetary policy which took into account exchange rates and capital flows could not be confused with an exchange rate oriented policy he said contradicting some growing sentiment
hechinger hecha convertibles upgraded by s p
intl finance corp in 50 mln dlr private placement
edward madigan r ill ranking minority leader of the agriculture committee
however the company said the rise in its debt ratio will be temporary and will leave its debt level within an acceptable range
weve decided to drill at least three more wells in there before starting production on a commercial scale production of bombay high part of the bombay offshore field has stabilised at around 500000 barrels per day for the last two years
the bonuses were made to cam usa inc the department said
national westminster bank plc 1st qtr net
however the daiwa officer defended his firms pricing of the deal
currencies could influence bullion again montagu
bank of japan governor satoshi sumita said it is in japans national interest to make greater efforts to reduce its trade surplus
universal resources uvr holders approve merger
the federal home loan mortgage corp adjusted the rates on its short term discount notes as follows maturity rate old rate maturity 32 days 600 pct 610 pct 1 day
tandy brands inc said it sold its grate home and fireplace division to an investor group that includes some members of grates management for 1600000 dlrs in cash and secured notes
the agreement simply helped it on its way
world bank sources said the banks lending to the philippines since 1957 including the latest loan totalled 43 billion dlrs
he said a modernization program is in effect at the companys united kingdom operations where the labor force trimmed to 4000 from 10000 is expected to be further reduced to 2500 in 1988
shr not given net 788099 revs 155 mln note company went public during 1986
japans trade surplus with the community has grown steadily registering a record 213 billion dlrs in march
the money has been spread out over more than 100 loans and about 12 billion dlrs remains undisbursed
a treasury spokesman commenting on the reserves figures said that the government does not want sterling either to rise too far or to fall substantially from current levels
vietnam to resettle 300000 on state farms in 1987
painewebbers geodyne energy income fund for example has said it plans to spend up to 300 mln dlrs on oil and gas properties
the commodity credit corporation ccc switched five mln dlrs in credit guarantees to ecuador to provide for more sales of us vegetable oil the us agriculture department said
ccc interest higher in june usda says
wholly owned and joint venture companies also did well apart from timber building supplies and real estate which returned below budget profits due to the housing downturn
the six nations agreed in paris exchange rates prevailing then were broadly consistent with underlying economic fundamentals and further substantial rate shifts could damage growth and adjustment prospects in their countries the paris statement said
as a result banks were being offered lead manager status at 200 mln dlrs co lead management at 125 mln and manager at 75 mln
there have been calls in congress to hold the rates at the 1987 level rather than allow them to fall next year
bottom patching was reported complete but only the no4 starboard wing tank has been pumped out and remains dry
proceeds will be used mostly for debt reduction
international rubber organisation inro buffer stock manager aldo hofmeister said tests had shown the quality of rubber in stock was acceptable but acknowledged that some consumers were now wary of buying it
the bonds are non callable and will be available in denominations of 1000 and 10000 dlrs
unr industries inc unriq 4th qtr net
shr loss 112 dlrs vs profit one cts net loss 17 mln vs profit 8000 dlrs revs 318 mln vs 421 mln year shr loss 51 cts vs profit 57 cts net loss 780000 vs profit 876000 revs 1178 mln vs 1173 mln note1986 4th qtr includes loss of 911000 for termination of licensing agreement and loss of 319000 dlr for termination of womens wear operation
hoffman said pillsburys internal statistics put soviet union wheat purchases at only two mln tonnes under a subsidy offer
it added that there was a one time gain of 281 mlns dlrs after taxes from an inventory accounting change
it said it may waive the condition that at least 5116892 shares be tendered as long as it received at least a 501 pct interest
the company lost 658000 dlrs on sales of 116 mln dlrs in the year ended july 31
in a summary of its world agriculture report the department said grain production in sub saharan africa was a record high in 1986 with gains in almost every country
but the report for january showed marketings at 101 pct of a year ago and in february marketings were at 100 pct levitt noted
under 0 92 a farmer can forego planting a crop but still collect 92 pct of deficiency payments
on november 2 a six nation working group will consider stock verification in papua new guinea
ec minister sees oils tax still in negotiation
up to now the mining was done with antiquated methods and basic equipment the gold mine scheme is the latest in a series of moves by north korea to clear its debts to japanese creditors
the yield on the bills for sale to banks and securities houses from money houses will be 38999 pct compared with the two month commercial bill discount rate today of 38750 pct and the two month certificate of deposit rate of 413 00 pct
shr profit 26 cts vs profit 19 cts net profit 1458000 dlrs vs profit 1070000 dlrs rev 309 mln dlrs vs 275 mln dlrs 12 mths shr profit 60 cts vs loss 19 cts net profit 3367000 dlrs vs loss 1061000 dlrs revs 1115 mln dlrs vs 943 mln dlrs
but it is wrong he said to attribute the massive trade deficit to a fundmental deterioration of us productivity or of american product quality these areas need to be improved but they are not the root cause of the trade gap problem roderick said
thai natural rubber exports rose to 763331 tonnes in 1986 from 689964 a year earlier the private board of trade said
us willing to talk to moscow on wheat price
doe secretary favors higher spr fill rate
henley hengo ends talks with sante fe
texaco canada said it lowered the contract price it will pay for crude oil 64 canadian cts a barrel effective today
treybig declined to offer specific projections for the quarter but he said the results might be lower than those for the first quarter of fiscal 1987 when tandem earned 271 mln dlrs or 58 cts a share
export duty on crude palm oil cpo was unchanged at 1606 ringgit per tonne
shr 15 cts vs 14 cts net 2028000 vs 1879000 revs 321 mln vs 295 mln
in particular mulford said banks and debtor nations will increasingly move toward repricing retiming or rescheduling agreements as an alternative to new loans
wagner and brown along with afg industries inc afg recently launched a surprise tender offer for gencorp
the head of spains employers federation jose maria cuevas said employers were worried about the governments monetary policies because high real interest rates were hampering investment
liffe is likely to wait until the outstanding amount of bonds with matching months increases to over several billion yen bond managers said
the chemical unit last year had revenues of 19 billion dlrs
it said the sale is consistent with its previously announced retail division restructuring plans
qtr ended march 31 net 268760 vs 235274 revs 721882 vs 575806 six mths net 472642 vs 464042 revs 1372453 vs 1059462 note per share data not given as not comparable to net figures which are before depreciation
the deal guaranteed by mitsui trust and banking co ltd will carry a seven pct coupon in year one rising to 844 pct in the final year
it said president michael r
prices for 03 pct and 05 pct sulphur remained unchanged at 2250 and 2185 dlrs it said
uk money market offered early assistance
associates corp issues 15 billion yen bond
the partnership in its statement again urged gencorp management to work with it to facilitate a transaction
the united arab emirates uae recorded a 1986 trade surplus of 122 billion dirhams narrowing from 302 billion in 1985 the central banks latest bulletin shows
to partly address this requirement many expect the fed to add permanent reserves with effect next thursday by offering to buy all maturities of treasury bills on wednesday
a gillette spokesman said the mpany had no comment
andriessen is thought to be prepared to cut cereals prices by seven pct and to take other drastic action trade sources said
the plan will require the approval of stockholders and that of the nevada and new jersey gaming regulatory authorities
it said the reclassification will reduce first quarter earnings by 28 mln dlrs after taxes and 11 mln dlrs after taxes for all of 1987 if brazil does not change its position of a moratorium on interest payments
the company said us liquids production averaged 660000 barrels per day last year down from 714000 in 1985 with about 44 pct of the decline some 24000 barrels per day representing high cost production shut in or curtailed in response to the decline in crude oil prices during 1986
financial statements from canadas major oil companies culminating with dome petroleum ltds 220 billion canadian dlr 1986 loss reported this week painted a bleak picture of last years results analysts said
hercules fell 2 1 4 to 59 1 4 on 595000 shares
diversified investment company ariadne australia ltd has offered 38 billion pesos for 38 mln shares in the philippine brewing firm san miguel a manila newspaper reported
this report is another reason for the fed to not consider easing said ray stone of merrill lynch capital markets inc
in a separate report the hwwa economic research institute in hamburg said west germanys real trade surplus would fall markedly this year
in february and march nigerias production shrank below its 1238 mln bpd opec quota
the cattle are for delivery during march june 1987 it said
british telecom will also seek to expand into manufacturing he said adding that research and development expenditure will rise both in terms of value and compared with the current proportion of two pct of overall turnover
some 230 mln dlrs is needed over two years to vaccinate the entire susceptible cattle population in bangladesh and pakistan and high risk areas of the other three countries
it doesnt happen every day every week every month but its not unusual for us to be linked with those companies said denny lynch wendys vice president of communications
most trees are in some stage of bloom development with petal drop already taking place in many south florida groves
golden enterprises inc gldc 3rd qtr feb 28 net
it said the decision specifically excluded from a purchased gas adjustment filing by the pipeline costs related to amortizing payments made to producers to reform gas purchase contracts
in future there will be no limit to the amount of lira bank notes both residents and non residents can bring into italy
avg shrs not given
the council is expected to agree to reconvene either within the next six weeks or in september they said
taft said the board concluded that the offer failed to recognize fully the future propsects of the company and directed management to explore alternatives including possible financial restructuring
the debentures may be converted into common stock at 2880 dlrs per share through march 24
the company said michel billard has been named chairman and robert berckmans has been named president and chief executive and berckmans and two others have joined the board
the selling concession for both deals is 1 1 2 pct while management and underwriting combined pays 3 4 pct
hecla mining co said it agreed to buy a 28 pct stake in the greens creek joint venture from amselco minerals inc a unit of british petroleum plcs bp bp north america inc unit
malaysian primary industries minister lim keng yaik told in kuala lumpur his country the worlds top producer of rubber tin and palm oil decides its participation in international commodity pacts case by case
hillsdown said capital expenditure rose in 1986 to 60 mln stg from 315 mln and would continue at this high level in 1987
theyre not beginners he said
genova inc said it signed a definitive agreement for the previously announced merger with genova products inc under the agreement genova products will pay 5 3 8 dlrs a share for the 29 pct of genovas outstanding common shares it does not already own
he said jordan would concentrate on obtaining concessionary foreign loans and keep commercial borrowings to a minimum
taft tfb stock rises on proposal
calling on delegates to show a sense of purpose and reality he said there is no reason why we could not put aside differences and come up with a successor agreement
jamesway jmy sets split higher cash payout
brazil criticises advisory committee structure
net long term capital outflows rose sharply to 705 billion francs last year from 88 billion in 1985 largely due to a major program of foreign debt repayment the ministry said
bank of japan governor satoshi sumita said in a statement the central bank will intervene in foreign exchange markets to stabilise exchange rates if necessary in close cooperation with other major industrial nations
the imf has said that a critical mass of bank commitments is needed before it will start disbursing the 183 billion dlr standby loan that it has approved in principle for argentina
soybeans rallied in response to tuesdays usda report that farmers intend to plant 569 mln acres this year down from 615 mln planted last year
woolworth holdings plc wlukl yr to end january
cambridge said it expects revenues for the first quarter to be approximately the same as those recorded for the fourth quarter ended december 31 1986 of 1025961 dlrs
citrosuco and cutrale officials were not available for comment
edelman would not comment and a spokesman for montreal based dominion called the report just rumors burlington said it did not know if the report was true
search for british ferrys toxic cargo continues
the federal reserve is expected to enter the us government securities market to add temporary reserves economists said
in return washington agreed to forego antidumping duties on japanese semiconductors
a white house ordered report said that growing us reliance on foreign oil into the year 2000 could have potentially damaging implications for national security
total assets decreased to 356 mln dlrs from 818 mln dlrs
grumman gq wins 28 mln dlr contract
we plan to develop the properties with short term high cash flow prospects he said
period ended april 30 shr not given net 2600000 vs 1600000 revs 181 mln vs 151 mln six mths shr 21 cts vs 42 cts net 3800000 vs 5500000 revs 329 mln vs 358 mln
us okays usair u pacific southwest purchase
on tuesday the federal statistics office said gross national product stagnated in real seasonally and calendar adjusted terms in the fourth quarter of 1986 compared with the third quarter
negotiations for a new inra to succeed the present one which runs out next october began nearly two years ago
our company is in sound financial position and production financing can be readily arranged when required
the stock are now expected to match the standard and poors 500 index rather than outperform the index as previously expected
farm credit task force chairman and newly elected vice president of the nppc ray hankes said delegates wanted a program that all commodity groups can work with and bring a resolution to this problem with legislators in washington
smuggling blamed for closure of haitian sugar firm
korth said boeings business appeared to be leaning too heavily to the military side as opposed to commercial
amstutz suggestion would be for congress to change the farm bill to allow usda to leave the soybean loan rate at 456 dlrs in crop year 1987 rather than increase it to 477 dlrs
standard said its standard oil production co subsidiary will operate the platform which is being designed to produce 15000 barrels of oil and 50 mln cubic feet of gas daily
sheikh ali told kuwaits daily al anba all opec states without exception are producing within the quotas allocated to them
a spokesman for enka declined to comment on the financial details of the deal
the government wants to keep an extra safety margin until it sees what effect the abolition of a 44 year old wheat rationing system will have on domestic consumption
thai natural rubber exports rise in 1986
on other commodity markets brazils selling impact may be muted no matter its need to generate capital
ford canada cuts annual dividend by six dlrs to six dlrs cash a share
canada may begin monitoring steel flowing in and out of the country to determine if any steel is being illegally trans shipped to the us senior government trade officials said
oilseed processing at the mill has been at a standstill since december 19
under the agreement the cts board will immediately be reduced to seven from eight with four current directors and three representatives of dca being elected to the board it said
8 1 2 pct bonds due march 1 1992 8 3 4 pct bonds due june 1 1996 9 pct bonds due march 1 2011
but this was largely counter balanced by currency factors
in addition to the purchase price csr will share equally in any returns due to increases in crude oil and condensate prices over certain levels for liquids produced from delhis interests in the next two years the statement said
yeutter made the comment in response to a question whether the us should expand the eep to cover grain sales to the soviet union
x includes imports
shr three cts vs two cts net 97224 vs 58503 rev 906368 vs 714747 avg shrs 3300000 vs 3948719
sigma mines quebec ltd 4th qtr net
south africa will repay 13 pct of its frozen 13 billion dollar debt to foreign creditors over the next three years under an agreement reached today in london finance minister barend du plessis said
ec 12 coarse grain in mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 1491 1493 1053 1053 production 8122 8119 8821 8828 imports 1658 1726 1829 1824 dom use 7964 8127 8238 8255 exports 1990 1996 1973 1956 end stocks 1318 1215 1491 1493 eastern europe coarse grain mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 407 372 514 514 production 7395 7450 6828 6838 imports 490 447 558 526 dom use 7304 7323 7265 7277 exports 355 355 228 228 end stocks 634 546 407 372 japan coarse grain in mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 232 223 191 191 production 035 035 039 039 imports 2156 2150 2151 2151 dom use 2179 2173 2149 2149 exports nil nil nil nil end stocks 244 244 232 232 argentina coarse grain in mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 078 053 083 083 production 1399 1544 1706 1714 imports 002 nil nil nil domes use 773 775 776 787 exports 660 773 943 958 end stocks 046 049 078 053 canada coarse grain in mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 619 619 466 461 production 2762 2762 2495 2495 imports 030 030 031 031 dom use 1980 1980 1899 1896 exports 741 721 474 472 end stocks 690 710 619 619 thailand coarse grains in mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 049 038 016 016 production 440 440 567 547 imports nil nil nil nil domes use 157 137 140 130 exports 310 330 394 395 end stocks 022 011 049 038
british telecom raises 1986 87 profit 117 pct
opec agreed in december to cut overall oil production by 725 pct to 158 mln barrels per day bpd for the first six months of this year and abide by fixed prices around 18 dlrs a barrel from february 1
if you looked around the world you could not scrape up one mln barrels a day in shut in production outside the middle east he said
proposals to buy the other major part of the alaska power administration the eklutna project was expected to be issued in early june it said
the bank will also have to offer at least one index linked issue where the rate paid to investors is tied to the retail price index leaving about one to two billion stg in total to be raised in the form of traditional stock
s and p pointed out that debt leverage would rise to about 90 pct assuming total debt financing
nz money supply rises 24 pct in january
no wealth or income taxes are payable on nine pct seven year bonds but those carrying 13 pct interest on 10 year bonds are subjected to income tax if interest amountm exceeds 7000 rupees a year
japans ruling liberal democratic party revealed its own economic package today calling for more than 5000 billion yen in additional spending
bankers trust in new york said it would be premature to make a decision
purchases rumored today were seen as a positive factor in light of a soviet trade officials statement that the previous purchase had satisfied near term needs
they said they expect gasoline inventories to be depleted by about one to four mln barrels
comb cmco makes acquisition
now there is no such consensus
it will buy back the 13 pct issue at 11170 pct of the principal amount plus accrued interest
rpt opposition to ec oils tax intact minister
in the statement on its official results for 1986 it also confirmed provisional results given on march 2 stating a 1986 net profit of 932 mln guilders against 573 mln in 1985
they put crude oil exports through yanbu at 100000 bpd last month compared to zero in january while throughput at bahrains refinery and neutral zone production remained steady at around 200000 bpd each
warrington sells shoe divisions
fleet aerospace corp said it agreed in principle to acquire the assets and operations of the engineered magnetics division of gulton industries inc a unit of mark iv industries inc
shr loss 63 cts vs profit 10 cts net loss 30 mln vs profit 483000 revs 619 mln vs 437 mln note1986 net loss includes loss of 14 mln dlrs or 28 cts a share from discontinued operations
he said if there is widespread belief money market rates will stay high a prime rate rise could occur at any time fed officials have long expressed concern that too steep a dollar drop could help rekindle us inflation
the components were for the militarys high mobility multi purpose wheeled vehicle hmmwv american motors said
such action would put a lot of pressure on the canadian banks to do the same levesque beaubien inc toronto based bank analyst donna pulcine told 
it attributed its reduced 1986 earnings to communications group losses resulting from continued heavy investment in new products and market development a four month strike at its toronto plants and delays in receipt of authorization from customers to start work on new programs
with declining incomes and export earnings the bases for resource generation became limited and the government will not raise taxes because current tax margins are high compared to malaysias neighbours he said
shr 58 cts vs 38 cts net 4628650 vs 3041407 revs 450 mln vs 281 mln
1986 excludes extraordinary gain of six cts per share in the quarter and 10 cts in the six months
brent would buy the casino companies and the freehold of 45 park lane in london
if such price stabilisation is not implemented ec farmers should not be the ones to suffer through their prices and incomes from the financial consequences the letter made available to journalists said
shr loss 20 cts vs loss 26 cts net loss 798289 vs loss 777667 rev 262738 vs nil avg shares 3930360 vs 2959029 year shr loss 96 cts vs loss 125 dlrs net loss 3202355 vs loss 3060407 rev 676341 vs nil avg shares 3339174 vs 2445423
for 1986 the company had net income of 63 mln dlrs or 107 dlrs per share vs 39 mln dlrs or 73 cts per share in 1985
american can cop said it has filed a shelf registration covering 500 mln dlrs of debt securities to be issued from time to time
still others believe that producers will not be hard pressed to aggravate the overburdened coffee stock situation in the us in the near term
schlesinger told in tokyo where the bundesbank has opened a representative office that the west german economy was now picking up after contracting by a seasonally adjusted 1 2 to one pct in the first quarter
a group of affiliated firms led by warburg pincus capital co lp a new york venture capital and investment partnership said it has acquired 1920527 shares of symbion inc or 255 pct of the total outstanding
iranian foreign minister ali akbar velayati here on a two day official visit informed cuban foreign ministry officials on monday on the tense situation in the gulf diplomatic sources said
and initially traders indicated their respect for the accord by refraining from pushing the dollar lower
there is a put and a call option in 1990 at par
the total includes four billion francs worth of 13 week bills 25 billion francs of two year bills and three billion francs of five year bills
the european community ec and euratom the european atomic energy agency are expected to issue french franc eurobonds this month a treasury spokesman said
usda secretary richard lyng however continues to maintain his opposition to a marketing loan saying such a move would be too costly
it said the caisse and institut merieux will each buy 275 mln common shares of the company for 3076 dlrs a share
digital comm dcai wins favorable ruling
taft broadacasting co said its board of directors unanimously decided not to accept the pending buyout proposal of theta corp an investor group led by dudley taft
those powers which allow london to ban foreign financial firms like banks from britain are designed to ensure uk firms equal access to overseas financial markets
swedish drug firm astra rise on aids hopes
finance minister edouard balladur said yesterday that french growth would be just two pct this year the same as last year and compared with the governments original 28 pct target
he said that more acquisitions may be made this year but he ruled out an acquisition of a pharmaceutical concern as too expensive henderson said that in his new role of chairman effective april one when he takes over from sir john harvey jones who will retire the biggest challenge ahead lay in continuing the earnings momentum ici has established over the past few years after restructuring and selling off unprofitable businesses
in the cbis february survey 37 pct of companies expected a rise in output while 54 pct forecast production would remain at present levels and eight pct expected production to drop
previously the initial monthly figure has had to be revised in subsequent months because of the time lag between the report and the compiling of final estimates on imports and exports
under review are the a 1 senior debt of issues guaranteed by british petroleum including eurobonds of bp capital bv debentures of bp north america finance corp eurodebt of british petroleum bv bpca finance ltd and bp canadian holdings ltd debentures and medium term notes of bp north america inc
only 33 rigs about one quarter of the total available were drilling for oil onshore in california last week compared to about 70 last year said bill bolster of munger oil information services which tracks california drilling activity
caltex a joint venture of chevron corp chv and texaco inc tx said its naphtha posting is up four cts a gallon to 43 cts
an insee official said the final figure for february would be released later this month
but industrial action by other port workers is likely to cause further disruption harbour workers union secretary ross wilson told 
spain revises economic targets for 1987
viceroy resource corp details gold assays
canada metal is a toronto based producer of lead alloys and engineered lead products
the company added that isis will operate as part of mcdonnell douglas information systems international
according to the sec filing entertainment marketing and zinn bought their current holdings of 1560000 crazy eddie common shares between may 20 and june 17 at 742 dlrs to 793 dlrs a share or a total of about 119 mln dlrs
who decides whether to keep or dismiss his ministers is the president
moreover it is uncertain how far us protectionism will get given the administrations free trade stance
sprinkel urges greater growth in japan europe
norsk hydro issues 50 mln stg bonds
woodside says loss reflects lower oil prices
the us agriculture department said it will update its estimate of winter wheat seeded acreage in the prospective planting report scheduled for release at 1500 est 2100 gmt tomorrow march 31
a dixons spokesman said the decision to retain one mln shares reflected woolworths buoyant prospects
chicago real estate developer leonard chavin told the securities and exchange commission he had raised his stake in the le meyers co group to 11 pct from 97 pct
brazil bank committee agree on credit request
several highly indebted nations have made great efforts to meet their debt payments especially latin american countries steckhan said
m 2 adds in short term bank deposits and m 3 adds in other short term deposits
lucas industries plc lucsl said its lucas industries inc unit is issuing a 75 mln dlr convertible eurobond due april 28 2002 paying an indicated coupon of 5 1 4 to 5 1 2 pct and priced at par
taiwans evergreen line to go public
the company has a strong balance sheet and considerable flexibility for 1987 it added
boeing ba to acquire defense electronics firm
in 1980 the inter governmental international maritime consultative committee issued a report saying more roll on roll off vessels were lost in accidents than ships with deck areas divided by bulkheads
it did not disclose a price for the acquisitions but said it had issued 30000 restricted b shares as partial payment to nokia
interleaf leaf introduces new software
the countrys trade deficit totalled 202 mln dlrs in 1986
four seasons buying marriott mhs hotel
danish credit downgrading unimportant premier
the more a consumer knows the more likely he will make an intelligent choice the us scientists said they had no doubt imported palm palm kernel and coconut oils contain high saturated fat levels
columbia gas said the filing would increase the pipeline commodity rates by 1574 cts per mln btu to 295 dlrs per mln
heller said he would require the holding company to serve as a source of strength to the bank by making a commitment to maintain the banks capital
total assets were nearly 11 mln dlrs at year end down from 12 mln dlrs the prior year
the ec rule would require all us plants to make changes in their inspection methods ranging from veterinary staffing to use of wood
1985 4th qtr and year include loss of 131 mln 19 mln dlr respectively
nbc news said it understood six iranians had been pulled from the sea
helaba luxembourg hessische landesbank international has issued a 300 mln luxembourg franc seven year private placement with a coupon of 75 pct and priced at par lead manager banque generale du luxembourg said
however he said hbos results in the quarter will be down slightly but in the first quarter of 1986 there was a special gain in the hbo unit
the firm expects good 1986 results with an appropriate dividend
speaking last night at a new session of congress he said last weeks agreement to reschedule 21 billion dlrs in public sector foreign debt at lower interest rates reflected venezuelas improved credit image
reagan said he remains concerned about the market but that actions taken by the federal reserve have helped
the peruvian government decreed that a wide range of firms would have to earmark between 20 and 30 pct of their 1986 net profits to buy treasury bonds this year
italy relaxes restrictions on lira imports
if the banks reject the proposal out of hand however they run the risk of scuttling the talks for ongpin has insisted that he would not accept a margin above 5 8 pct
the area sown with sorghum in 1986 87 was 123 to 130 mln hectares down 103 to 152 pct on the 145 mln in 1985 86
it was unclear whether union meatpackers would return to work
argentinas great efforts to comply with obligations on its 50 billion dlr foreign debt should be met by a reduction in interest rates on the part of the creditor banks he said
bankers report breakthrough on venezuelan debt
the seafarers employers are also asking for a reduction in crew levels a move which the union said would cost about 400 jobs
borg warners 420 mln dlr a plus senior debt and a 1 commercial paper were placed on creditwatch december one
more than half of californias oil comes from stripper wells those producing less than 10 barrels a day and that much of that oil costs between 18 and 25 dlrs a barrel to extract malmgreen said
psc grew to 2269 billion dlrs from 2224 billion in december and 1731 billion in january 1986
the quake which in colombia measured between 65 and seven on the 12 point international mercalli scale caused panic among residents but no injuries were reported
funds are under upward pressure from settlement of recently sold two year notes and from a treasury tax and loan call on banks
he told reporters on saturday it would be unwise to try to pin the banks down on monsods proposed growth facility
hudsons bay holds about four mln shares of domes 10 pct series one cumulative subordinate convertible preferred shares
in 1985 when oil prices were still above 25 dlrs a barrel and chemical exports were adversely affected by the strong us dollar dow had profits of 58 mln dlrs
bank of spain suspends assistance
the company said the acquisition is still subject to regulatory approvals and is expected to be completed during the second quarter
the outbreak has forced the government to ban the use of 57 insecticides on rice because it was believed the wereng are now resistant to these varieties and to use lower yielding more resistant rice types
once we have had an opportunity to complete our due diligence evaluation of the company including inspections of certain facilities and meetings with key management personnel we would be prepared to negotiate all aspects of our proposal including price it said in its april 8 letter
in fact you can argue that s and p is lagging the market commented one trader
fermentas new management originally hoped to raise 160 mln crowns through the new one for four rights issue and an extra 170 mln from an issue to nordbanken another major creditor and shareholder gotabanken and the groups new majority owner industrivarden ab the share price was to be 20 crowns
atico financial corp atfc 4th qtr net
idea reported earnings of four cts per share for the quarter ended october 31 1986
at a telephone conference on february 23 committee members discussed the possible implications of the decisions reached in paris for us intervention in foreign exchange markets
this government is dragging australia through a trading holocaust the kind of which we have not seen since the second world war keating said
april crude closed 24 cts higher to 1775 dlrs
legal and general group plc year 1986
stanadyne inc stnao 3rd qtr net
the yield per harvested acre for winter potatoes is estimated at 234 cwts per acre vs 243 cwts last year
cold wet weather slows beet growth in w
revenue from jet engines was close to six billion dlrs last year with well over half of the business in the military sector according to analysts estimates
nationair said it plans to begin service between montreals mirabel airport and brussels three times a week for an unrestricted one way fare of 299 canadian dollars
some analysts predicted minimal earnings impact on canadian banks from a move to declare the brazilian loans non performing
ste genevieve resources ltd said it increased its cash takeover bid for sullivan mines inc shares to 725 dlrs a share
the other 200 billion yen will yield 36003 pct in 43 day repurchase accords maturing on august 12
the report details steps to be taken by the administration to increase federal efficiency and to continue president reagans highly publicized war on waste fraud and abuse according to the report elinquent us debt had soared to 683 billion dlrs or 188 pct of total receivables by the end of the fiscal year that ended last sept
frank fountain assistant treasurer at chrysler corp said a 100 mln dlr swap it made in december had gone so smoothly that chrysler has plans for more
non refundable for 10 years the issue is rated a 3 by moodys and a minus by standard and poors
the purchase of cleveland is a further step in saatchi and saatchis fast growing consulting industry the company said
douglas said it was too early to project whether the anticipated fourth quarter performance would be enough for us to exceed the prior years overall earnings of 153 dlrs a share
shr loss nine cts vs profit 20 cts net loss 257157 vs profit 414890 year shr profit 54 cts vs profit 105 dlrs net profit 1295104 vs profit 2140673
those affected represent about 46 pct of direct labor
however some fields still showed spotty stands
shr 19 cts vs 13 cts net 2656000 vs 1712000 revs 154 mln vs 9443000 avg shrs 141 mln vs 126 mln year shr 98 cts vs 77 cts net 138 mln vs 8928000 revs 588 mln vs 485 mln avg shrs 140 mln vs 116 mln note shr figures adjusted for 3 for 2 split paid feb 6 1987
it said the provision will increase loan losses to about 328 mln dlrs or 22 pct of loans
europe
the warrants are exercisable from may 18 1987 until april 10 1992
west german president richard von weizsaecker said both debtor and creditor nations share responsibility for the third worlds foreign debt crisis
he said rural industries in other suburbs also set aside money for grain and pay the salaries of some of the 70000 workers available to help farmers
the issue has been designated the b tranche of the bonds since 13 billion stg of 8 3 4 pct treasury loan stock due 1997 is already in issue
he estimated it could take about 60 days to build
in the year chemicals and plastics earned 472 mln dlrs against losses of 142 mln dlrs in 1985
it said there are plans to boost production to 300000 ounces by the early 1990s
san miguel corp smc and united coconut planters bank ucpb have reached a compromise on a disputed block of 381 mln shares of smc the head of a government panel that controls the sequestered shares said
us personal income rose 02 pct or 79 billion dlrs in may to a seasonally adjusted annual rate of 36300 billion dlrs the commerce department said
baker in its first fiscal quarter ended december 31 lost 342 mln dlrs on revenues of 2977 mln dlrs
the first paid will be the trading community and those connected with texaco in the shipping industry one new york trader said
laurence tisch became the largest shareholder in cbs nbcs former parent rca was acquired by general electric and abc was merged into capital cities broadcasting
australian treasury note tender 200 mln dlrs
evans told the conference the government did not plan to accept industry pleas for changes in the legislation to allow deductibility of unsuccessful exploration expenditure
he said another disturbing development was the so called national quota approach adopted by groups of banks
louis mo investment advisory firm told the securities and exchange commission it has acquired 55900 shares of supreme equipment and systems corp or 51 pct of the total outstanding
however the securities and exchange commission last friday pressed dixons to reopen the offer because the uk based company had dropped a condition that at least 80 pct of cyclops stock be tendered by the close of the offer
us money supply growth is slowing down rapidly and some economists believe that all three of the federal reserves main monetary aggregates may even have contracted in february
ducommon inc dco 4th qtr loss
freedom savings and loan association said it will record a net gain of 135 mln dlrs on the sale of certain assets of its freedom mortgage co subsidiary to chase home mortgage corp a subsidiary of chase manhattan corp cmb freedom also said it had completed the sale
but the underlying rise was 775 pct up 025 pct from march and back to the same level seen late last year
imf managing director holds talks in ivory coast
artistic greetings artg sees recovery in net
prudential corp plc prull 1986 year
it added that preliminary metallurgical tests from representative bulk ore samples indicate the commercial feasability of producing a zinc and a copper lead concentrate
the turkish central bank set a lira dollar rate for april 2 of 78000 78390 to the dollar down from the previous 77700 78089
funaro said he hoped next week to travel to talk to japanese and canadian government officials
earlier today bp said it planned to offer 70 dlrs per share for the standard oil cos srd publicly held stock
the quake damaged 40 km of an oil pipeline forcing this opec nation to suspend crude exports for four months president febres cordero said in a statement issued today by the presidential press office
diversified human resrouces group hire year
last years fall in oil prices and the loss of investment tax credit under the tax reform act made the project uneconomical even with government price supports and loan guarantees unocal said
the federal agency said that in december oil production fell 40 pct to 773 mln cubic meters while exports rose 52 pct to 284 mln cubic meters and imports rose 123 pct to 21 mln cubic meters
us mine production of gold rose to 244900 troy ounces in december from 244749 ounces in november the us interior departments bureau of mines said
muldoon said in a speech last night the exchange rate should be around 48 us cents instead of the current 57 cents
johnson said the dollars decline against other currencies such as the japanese yen has been gradual
as part of this study i think the administration will take the fill rate under review herrington said at a house energy subcommittee hearing
it said each 1000 dlrs principal amount of the debentures is convertible into about 30075 common shares at the conversion price of 3325 dlrs a share
the psa handled 529 mln gross registered tonnes of cargo in 1985 according to the latest available statistics from the port authority
coupon rates on 10 year certificates maturing march 1995 will fall to 980 pct from 1365 pct and rates on 10 year issues maturing in march 1996 would fall to 1005 pct from 1430 pct
we have a very large population which is used to price stability and will object to price rises he said
the us senate agriculture committee approved a bill that would establish farm trade and aid missions to promote the use of us food aid donation credit and export subsidy programs by overseas customers
allied lyons had first half profit of 1480 mln stg up from 1226 mln stg in the prior year
ah belo corp blc 3rd qtr net
aide says france supports oil and fats tax
equatorial said the losses will include a charge of about 45 mln dlrs from costs associated with the restructuring of its business including adjustments to reflect the market value of transponders owned and leased by equatorial and other reserves for inventory receivables and excess facilities
it said the options can be exercised at 10 dlrs a share up to december 31 1987 then at 1250 dlrs a share until december 31 1988 and then at 15 dlrs a share until december 31 1989
oper shr 64 cts vs 97 cts oper net 845000 vs 1285000 revs 200 mln vs 23 mln note 1986 and 1985 oper net excludes gain of 315000 dlrs and 585000 dlrs respectively for extraordinary item
pacificorp ppw shelf offering of up to six mln shares of no par serial preferred stock with a total liquidation preference of 150 mln dlrs
there will also be a participation fee of five basis points for 125 mln stg
in a separate statement american brands said the sale would be for 545 mln dlrs plus the assumption of liabilities
consolidated natural gas co cng in payout
interco iss shareholders approve merger
shr 42 cts vs 21 cts net 191 mln vs 9528000 sales 1012 mln vs 656 mln avg shrs 460 mln vs 460 mln nine mths shr 108 dlrs vs 69 cts net 491 mln vs 327 mln sales 2800 mln vs 2010 mln avg shrs 456 mln vs 474 mln note share adjusted for february 1987 two for one split
domestic sales were led by better than average increases in apparel home fashions and hardware and especially strong catalog sales said sears chairman edward brennan
the government bonds are listed as securities but traded on indias four major stock exchanges
danzar investment dnzr sets special dividend
the council had been closed three years ago by the military government of former president joao figueiredo
japans cabinet approved a plan to help financially troubled aluminium ventures in indonesia and brazil an official at the ministry of international and trade industry miti said
canadian narrowly defined money supply m 1 rose 217 mln dlrs to 3280 billion dlrs in week ended february 25 bank of canada said
watanabe was unavailable for comment
cullinet software inc cul 4th qtr earnings
indonesia urged to deregulate its economy
stewart wrightson shares rose to 576p at 0835 gmt from a suspension price of 499p
france backed the ivory coast and other african producers during the talks
a spokesman for the bank said the capital bonds were subordinated and had an average maturity of 105 years
period ended may 31 shr 41 cts vs 35 cts net 154 mln vs 119 mln revs 2344 mln vs 966 mln avg shrs 380 mln vs 344 mln
dutch bank plans 50 mln australian dlr eurobond
in an information statement distributed to newmont shareholders explaining the dividend of magma shares declared tuesday newmont said magma had a net loss of 466 mln dlrs in 1986 adding this was equal to 122 cts a share
continental information systems cny 2nd qtr
durham said last month that the second quarter should match the first quarter when earnings rose about 11 pct to 168 mln dlrs or 49 cts a share
foster corwith gas analyst with dean witter reynolds said most of the rising cost to booklyn union will be passed through to rate payers
the bundesbank wanted to set a marker after stock market losses that was the responsible thing to do and if it fits with bakers wishes then all the better he said
it surged last week amid indications washington was seeking a major rise in its value
it said the us current account deficit looked likely to fall even more slowly than forecast to 125 billion dlrs in 1987 and 115 billion in 1988 from 130 billion in 1986
anchor savings bank to trade on nasdaq
community sources said after a meeting of trade officials yesterday that the group might impose steep new tariffs on a range of japanese goods to prevent diversion from united states markets if washington imposes trade sanctions against tokyo as it has threatened
st clair paint and wallpaper corp year net
the company said its board and some former directors and first boston were also named as defendants
dealers said securities houses and trust banks on the other hand have aggressively sold the dollar
aides to lyng earlier said the administrations agriculture legislative proposals would be the farm related topic on the agenda
so far the banks have been mindful of the importance of preserving the entrepreneurial aspect of sharebroking he said
gorbachevs policies to improve worker attitudes remove incompetent officials reduce corruption and alcoholism and modernize the countrys industrial equipment accounted for some of the gains the report said
under the ruling credits given by banks or their subsidiaries to groups or individuals holding five pct or more of the banks capital must not exceed defined limits
throughput at the refinery is currently estimated at 140 150000 bpd although total capacity is nearer 200000 bpd
the issues are intended to help curb the growth of the m 1b money supply which has grown as a result of increasing foreign exchange reserves
overland express inc over year loss
conrac cax urges no action on bid
the kerna four appraisal well flowed gas at 235038 cubic meters a day with four kiloliters of condensate through a 13mm surface choke over an interval of 2374 to 2399 meters
dudley taft relinquished the title of president in july but continues as vice chairman of the company
white sugar denatured and non denatured 4970 versus 5005 previously
the company did not indicate when it might resubmit the proposals for approval by its shareholders
the company also cut its staff to 820 employees at the end of 1986 from 2500 a year earlier
westpac banking issues 50 mln australian dlr bond
prices improved from 1150 dlrs a tonne six months ago to about 1450 dlrs today
american brands said it will introduce a new low priced brand of cigarettes called malibu
gabelli also said gamco has sent a 13 d filing to the securities and exchange commission on the 65 pct of gencorp stock held by gamco and its affiliates
but price increases slowed sharply for gasoline and home heating oil the department said
under the agreement genova said each of its shareholders will receive 5375 dlrs per share in cash
it will be subject to approval by the board and series c preferred shareholders
auto dealer sales were 2691 billion dlrs in february a 144 pct rise from january levels
sarney told members of the council that for brazil it is a must to recover its annual trade balance surplus to the 12 billion dollars average recorded in 1984 and 1985 and which dropped sharply last year to 8 billion dollars
terms were not disclosed
however they said an all out trade war may be far off as ec states know they would suffer almost as much as japan
in march 1986 the figure was 725000
for its first quarter ended january 31 farah lost 1891000 dlrs or 32 cts a share on sales of 71 mln dlrs
us home declined to put a specific figure on what its net earnings would be for the coming first quarter but said it would definitely record a profit
german eurobond market expects breathing space
tecsyn previously said it and its controlling shareholders accepted in principle a proposal from the group to offer nine dlrs a share for 70 pct of tecsyns outstanding shares
interest rates in japan are at a historical low but china which will remain an active borrower this year is likely to go elsewhere for capital to get a better currency spread he said
mlx corp mlxx 4th qtr loss
royal bank canada sees higher 1987 loan losses
nynex nyn unit files 500 mln dlr debt offering
btr nylex is a 595 pct owned listed subsidiary of britains btr plc btrxlon
us television networks said on monday that us forces launched a retaliatory strike against iran late sunday apparently attacking two iranian offshore oil drilling platforms
the selling concession is one pct while management and underwriting combined pays 1 2 pct
he said debt conversions or swaps are more effective because they eliminate the interest service on converted debt create new jobs and open up investment opportunities that can help indebted countries overcome their own problems
1985 4th qtr and year includes realized investment gains of 16000 and 35000 dlr respectively
the proposal showed that collaterals and guarantees would not be recognised in calculating credit equivalent amounts
ropak said it waived minimum acceptance requirements to buy the shares and intends to evaluate a number of possible ways of completing an acquisition of buckhorn
in the first stage we decided not only to lower the reintegro but also to adopt a flexible policy of reintegro that will allow private exporters to participate more actively in colombias coffee export policy he said
backlog on september 30 1987 was 93 billion dlrs which company said was a record
uk money market given 24 mln stg assistance
he said the dollar had fallen much less against currencies of important trading nations such as canada korea taiwan and hong kong and further falls there may still be necessary
in its weekly petroleum status report the department of energy agency said gasoline stocks were off 100000 barrels in the week to 2515 mln barrels and refinery crude oil stocks were up 32 mln barrels to 3330 mln
canterra energy to drill well off nova scotia
it said values of up to 0073 ounce of platinum 0206 ounce palladium three pct copper and 45 pct nickel were found over a drill section of 13 feet
old fashion foods inc offi 3rd qtr feb 28 net
morgan stanley said each share of preferred may be converted at any time into 06944 share of the companys common stock
in havana each cuban receives approximately 3 4 lb of rationed beef every 18 days
morgan stanley and shearson lehman co managed the deal
but dick van splinter president of rmjs competitor fundamental brokers incs london operations estimates average daily turnover is no more than four to five billion dlrs
taft has 92 mln shares outstanding of which 12 pct are owned by the taft and ingalls families
releasing a letter sent friday to supermarkets general dart said we believe that an agreement can be reached which will be in the best interests of supermarkets general its stockholders management employees and customers
they said market respect for the cartel has increased since it announced saturday that it would cut fourth quarter output to 166 mln bpd from the 183 mln agreed in december
procedure increased fourth qtr income 73000 dlrs or two cts per share
the company last paid 643 cts a share on the issue in august 1986
a boliden spokesman told details of the announcement would be given at a news conference by chairman rune andersson at 1030 gmt today
he also said bra kanon would fulfil his duties as icco council chairman during the talks scheduled to end on march 27
rothmans b shares which firmed on the speculation to close at 273p from 241p on friday eased to 2455p at 0838 gmt
overall however trader and roaster opinion on the likelihood of a successful re negotiation was mildly pessimistic varying between a 50 50 chance and 60 40 against
dow chemical co believes strong margins for chemical products could result in record earnings this year chairman paul oreffice said
algeria has moved at least two cargoes of propane to the us gulf keeping mediterranean prices steady traders said
soviets said to see new floor for grain output
sales 365 billion crowns vs 340 billion
in the latest signup farmers on 101020 farms submitted bids on a total of 11254837 acres
intelligent systems mlp inp makes cash payout
employment in the non manufacturing sector will continue to increase the institute said without giving figures
confidence in opec firms us energy futures
shr 16 cts vs eight cts net 4834000 vs 2052000 revs 349 mln vs 160 mln avg shrs 311 mln vs 268 mln nine mths shr 26 cts vs 13 cts net 8006000 vs 3310000 revs 809 mln vs 345 mln avg shrs 308 mln vs 263 mln note share adjusted for two for one stock split
he sees a 710 pct end of june yield on treasury bonds with federal funds and prime rates at 550 and seven pct respectively
mountain states resources corp said it acquired two properties to add to its strategic minerals holdings
poehl says rate rises are cause for concern
they concluded that present and prospective progress in implementing the policy undertakings at the louvre and in this statement provided a basis for continuing close cooperation to foster the stability of exchange rates
in april last year m 3 stood at 7464 billion rand
and one official added that the key latin officials would be present at the semi annual meetings of the imf and the world bank
eastpark realty trust ert 4th qtr net
greenwood resources grrl sells company stake
haynes said more satisfactory product margins on its petroleum products could result if demand recovers as it has in the united states
a 1026 mln dlr gain on the sale of cps cominco ltd interest helped raise final 1986 fourth quarter profit to 1938 mln dlrs or 65 cts a share
to entice us investors to fill the gap that would be left if the japanese stopped buying us bonds interest rates would have to soar obrien said
kaiser said the increases are due to increased demand and the need to set prices relative to the cost of primary aluminum
shr 53 cts vs 85 cts net 2033425 vs 3718325 revs 1206 mln vs 795 mln note 1986 net includes 3300000 dlr provision for credit loss
bank negara said growth in external debt which declined progressively from a peak of 58 pct in 1982 to 136 pct in 1985 rose by 202 pct in 1986
world bank approves loan for brazil railway
columbia gas cg in sinking fund redemption
canadian oil companies raise crude prices
most of ningbos port infrastructure has been built since 1979 official publications show
the bank of england finally gave way to a 1 2 point cut in banks base lending rates earlier today but dealers said this had been largely discounted and was not likely to detract from the current popularity of sterling denominated investments
the tanker is owned by the national iranian tanker co
taft narragansett requsted a response to its proposal by march 12
the par priced public issue will be redeemed in full at 48780 dlrs per 1000 guilder bond on april 15 1994
the 1985 86 crop is estimated at 8821 mln tonnes vs 8828 mln last month
the company said the increase brings its posting for west texas intermediate to 1900 dlrs a barrel
he noted that one long dated citicorp issue paper which has suffered recently on fears over latin american debt exposure slipped by two points to around 9400
regal petroleum ltd rplo year
volcker urges industrial nations to keep trade markets open to foster growth
the soviet union outlined its economic targets for 1988 on monday stressing the need to improve standards in the countrys sluggish engineering industry
the london meat futures exchange lmfe will cease trading in its deliverable pigmeat contract from april 3 the lmfe said
the spokeswoman said that bpcc intended to keep a majority share in the newspaper group if it was floated
this further weakened sentiment the bundesbank could move to a more accommodative monetary stance dealers said
under the new pact the adjustment under these circumstances will be five pct unless the council decides on a higher adjustment
usx corps texas oil and gas corp subsidiary and consolidated natural gas co have mutually agreed not to pursue further their talks on consolidateds possible purchase of apollo gas co from texas oil
it said talks are underway with lenders on other houston properties to obtain partial debt service moratoriums which if granted would cut 1987 cash deficits from 1986 levels
it said the transaction is subject to approval by its shareholders and to welsh carson obtaining up to 230 mln dlrs in debt financing
but he declined to comment on the prospects for action by the fed and the bundesbank
bank of boston bkb sees improved 1st quarter
but rounding up free rider banks entails such a huge drain on management resources that more and more bankers are acknowledging that the syndicates may have to shrink
the 137000 tonnes comprised 59500 tonnes of wheat for china 53000 of wheat for the soviet union and 24500 of wheat for algeria
of the total 400 billion yen will yield 38502 pct on sales from money houses to banks and securities houses in a 41 day repurchase accord maturing on may 19
union sources said talks with the state government broke down last night but the two sides are scheduled to meet later today in an attempt to find a compromise
the frn market has been suffering from acute contraction of liquidity and consequent drain of investor confidence since the effective collapse in the market for perpetual floating rate issues late last year
it said the group has been advised by first boston incs fbc first boston corp that the investment banker is highly confident that financing for the acquisition can be consummated narragansett said the offer is subject to negotiation of a definitive merger agreement and definitive financing agreements as well as approval by regulators tafts board and tafts stockholders
shr loss 10 cts vs loss nine cts net loss 558800 vs loss 469200 sales 55 mln vs two mln nine mths ended dec 31 shr profit two cts vs loss four cts net profit 91045 vs loss 207000 sales 173 mln vs 84 mln avg shrs 5465433 vs 5037819 year ended march 31 shr loss 28 cts vs profit 19 cts net loss 1356321 vs profit 818723 sales 109 mln vs 122 mln avg shrs 4862499 vs 4683591 note medar changed end of fiscal year to december 31 to be more in phase with business cycle of its major customers
allis chalmers corp said it is deferring approximately three mln dlrs of interest payments due march 31 and april 1
the bonus awarded was 1130 dlrs per tonne and will be paid to peavey company in the form of commodities from ccc stocks
rates were unchanged on those indicated at the time the offer was announced
amre inc amre 3rd qtr jan 31 net
investors will pay for the bond on may 5 1987 and the bond pays annual interest on november 5 beginning in 1988
i am deeply concerned that when the president visits prime minister brian mulroney next month he will be presented with this kind of argument and i hope he makes it clear as i did when i was in canada that only a mutually beneficial agreement will be successful bentsen said
uk money market given further 570 mln stg help
one bank official said he could not deny the possibilty of the bank of japan activating currency swap agreements with the us and other central banks if these banks continue intervening to sell the yen in support of the dollar and run out of their yen cash positions
however any delay this year should not endanger the fifth year of the grains agreement that extends through september 1988 usda officials said
they said the plan would dominate discussions at two day energy talks between officials of the two countries in washington from april 1
each warrant will entitle the holder to purchase 45 savings shares of efi banca at a premium of about 10 pct above the closing price on the milan stock exchange on or before march 17
government sources noted that the existing treatment of withholding tax on interest has enabled some banks to reduce interest rates on overseas loans thereby lowering the revenue to the uk treasury
house subcommittee votes credit card rate cap
the increase brings the prices for one pct sulphur to 2130 dlrs up 20 cts two pct sulphur 2085 dlrs up one dlr 22 pct sulphur 2050 up 125 dlrs and 25 pct sulphur 2025 dlrs up 145 dlrs it said
cable and wireless restructures hk units
rochester telephone corp said it completed the acquisition of canton telephone co and is now operating the company
he said no date had been set for the next tender
the transaction is expected to close on or before august 31
transtech industries inc trti year net
the feds actions on friday and today show that it is offering only token resistance to upward funds rate pressures said jones of lanston
in line with central bank policy he declined to give any details of the amount bought
api said refinery runs in the week rose to 1180 mln barrels per day bpd from a revised 1170 mln and refinery use of operating capacity was 757 pct up from a revised 750 pct
proceeds will be used to refinance certain long term debt reynolds metals said
national is the manager of nursing home properties owned by southmark
murphy raises crude oil posted prices one dlr bbl
last year goodyear aerospace had revenues of 695 mln dlrs
triton petroleums assets consist of proven oil reserves of 13 mln barrels exploratory acreage and unspecified working capital and a significant tax loss carryforward
manufacturers hanover did not name an underwriter for the offering
ameritrusts total year end assets were over 111 billion dlrs
some analysts said american express may consider spinning off part of shearson because it is concerned that its stock price does not fully reflect the value of the brokerage firm
trade surplus cut would benefit japan sumita
brazils decision jolted the worlds financial community as the country is 108 billion dlrs in debt including some 68 billion owed to commercial banks
in early trading it had fallen to 2430 dlrs because of rumours yesterday that the firm planned a rights issue
mellon bank corp mel 3rd qtr net
the fund said the dividend represents two cts per share for net investment income realized during 1986 and 110 dlrs from net taxable gains realized during the year
a turkish west german joint venture turk henkel as issued the first commercial paper in turkey through private yapi ve kredi bankasi as bank officials said
the magic group owns pilgrim life insurance co of america and middle atlantic life insurance co
the company said new orders for the year just ended however rose 50 pct to 26 mln dlrs bringing backlog at year end to 19 mln dlrs
banca damerica e ditalia spa in which 983 pct was acquired from bankamerica corp bacn late last year would be consolidated this year and contribute to further expansion of deutsches business management board joint spokesman f
brazilian coffee rainfall
ivory coast maize output has risen steadily during the last two decades and the country aims to produce two mln tonnes annually very rapidly the official daily fraternite matin reported
the margins will return and this will be a better year than 1986 in 1986 refining and marketing showed operating profits of 401 mln dlrs on revenues of 1636 billion dlrs
canada leading indicator up 04 pct in december after 04 pct november gain official
sumitomo last august agreed to pay 500 mln dlrs for a 125 pct limited partnership in the bank but for the time being at least the federal reserve board has forbidden them to exchange personnel or increase the business they do with each other
union pacific said the partnership called champlin refining co will acquire the refining and distribution system owned and operated by union pacifics champlin petroleum co subsidiary
sabine royalty trust sbr sets monthly payout
the transcanada offer has quite a bit of upside potential for dome he said
gencorp has not commented on the offer
holiday corp and communications satellite corp said they closed the previously announced sale to comsat of holidays 50 pct interest in hi net communications their joint venture that provides in room video entertainment to hotels by satellite
despite cubas ambitous cattle development plans beef rationing has been in effect over the past 25 years
mcdonnell douglas md not approached by pesch
about 15000 miners attended a rally here to endorse moves proposed by last weeks annual meeting of the 200000 strong national union of mineworkers num they also supported a proposal for a national strike at the end of this month if the owners refused to begin negotiations
oecd urges action to cut us budget deficit
the plan to reduce the fiscal budget is a pillar of nakasones fiscal reconstruction program
president reagans nominee as top policeman for the nations securities markets will inherit an agency challenged by an insider trading scandal wild stock price gyrations and a host of uncertainties stemming from the globalization of financial markets
fairfax said a fall in net interest also contributed to net earnings because group borrowings were reduced following the receipt of a 9611 mln dlr capital dividend from australian associated press pty ltd aap after the sale of aaps b shares in holdings plc rtrsl this accounted for the 8932 mln dlr extraordinary profit
honeywell inc said it has completed the sale of 575 pct of its honeywell information systems his computer business to compagnie des machines bull of france and nec corp of japan for 527 mln dlrs in cash
an american aircraft official said the company has an option to acquire the remaining 49 pct
usa network today said it has acquired time incs tl one third interest in the network
analysts also said the company has other interests in the alaskan north slope
she said a statement was expected but it was not certain when it would be ready
a high command communique said warplanes hit the western jetty at irans kharg island oil terminal in the afternoon and struck a supertanker nearby at the same time
belonging to ipma carries a certain amount of prestige with borrowers said a dealer at a small foreign bank
speculators have gone net long but only slightly so he added
it said that the treatment for the bonds had not actually been determined although it had been estimated that holders would receive about 10 pct of the nominal value of the bonds which was the percentage to be assigned to property claims
funaro has rejected suggestions for negotiations with the imf and said there is no question of brazil agreeing to an austerity program with the fund
it had a 444 billion yen current profit in the first half of 1985 86
the grain will be shipped between june 15 and july 15
east rand proprietary mines ltd said that barring any major disruption in production it expects 1987 gold output to top 10 tonnes after dropping to 9223 tonnes last year from 10251 in 1985
the inra renegotiation conference which resumed today under the auspices of the united nations conference on trade and development unctad is scheduled to last until march 20
lusinchi already has decided on his successor the el nacional reported
treasurys baker outlines trade bill criticisms
union planters upcmo acquisitions approved
they are priced to yield 97 basis points over 10 year us treasury notes
first federal fort myers ffmy to make purchase
shr loss 25 cts vs profit 11 cts net loss 446005 vs profit 185325 sales 24 mln vs 25 mln 12 mths shr loss 16 cts vs profit 41 cts net loss 282305 vs profit 709787 sales 101 mln vs nine mln
kaysersberg which was transformed from a division of beghin say into a fully fledged chemical subsidiary last year has been holding talks with other european companies on possible accords vernes said
the saudis and other opec nations are jawboning the market hoping to restore confidence and prices and to do this without another meeting said sanford margoshes oil analyst with shearson lehman brothers inc
robertson at mellon by contrast said the loss of confidence was triggered last week when washington announced plans to slap 300 mln dlrs of tariffs on japanese electronic imports raising the specter of a debilitating trade war
managers responded well to the demand for lower operating costs and this has been achieved worldwide
we must see that the commitments made at punta del este on standstill and rollback are carried into practice the standstill and rollback of protection offers the global trading system a chance to hold and wind back protection during the negotiations which are expected to last up to four years he said
quaker oats oat sells unit to keystone
bally bly seen selling off health unit
international business machines corp has started the year aggressively but industry analysts said the company still faces some tough rounds in its fight to stop a two year earnings slump
kasler corp kasl 1st qtr jan 31 net
the non callable bond is guaranteed by the crown in right of new south wales
us m 1 money supply falls two billion dlrs in march 30 week fed says
i do not want it to become uncompetitive because then we are dead monsod said the ideal movement in the peso dollar rate is a movement that will reflect differences in inflation rates of the philippines versus the other country
no grain shipments to the ussr usda
the situation is unchanged consumer spokesman abraham van overbeeke told reporters
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 offer is scheduled to expire midnight edt on june 2
australian unions launch new south wales strikes
such an agreement would have to have both us and ec backing and industrialised countries would have to see it as a political rather than a merely economic pact
we have to avoid that he said congressmen seem upset mosty with japan because of its massive trade suprlus with the united states and not with ec nations but ec nations will be hurt by the diverted shipments of asian textiles
available evidence suggests that corporate customers including non bank financial institutions have been exploiting differences between interest rates on overdrafts with trading banks and rates in the call market russell said
qtly div 12 cts vs 12 cts prior pay april 21 record april seven
the american wi when issued market certainly functions very efficiently he said
gtc transcontinental group ltd 1st qtr net
press reports in minneapolis newspapers this morning quoted several legislators as saying they were inclined to support legislation that would help dayton hudson according to a governors spokesperson
the senate this week might take up proposed legislation that could serve as a lightning rod to expose broad initiatives to change us farm policy
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
partly offsetting these outflows exchequer transactions and a fall in note circulation will add some 300 mln stg and 40 mln stg to the system respectively
metropolitan which said it spent 31 mln dlrs to acquire its metex stake listed its recent stock purchases as 54993 common shares on march 67 at 10 dlrs each and 83916 shares on march 11 at 1125 dlrs
year ended march 31 shr 91 cts vs 108 dlrs net 4800000 vs 5800000 rev 1187 mln vs 1103 mln
the trade subcommittee backed away from mandating specific retaliation against foreign countries for unfair foreign trade practices as the house had approved in a trade bill last year
chile signed an agreement with banks last week and there was also an agreement with venezuela on rescheduling principal payments on previously renegotiated debt
the increase brings conocos posted price for west texas intermediate to 1900 dlrs a barrel
this compared with 111 pct unemployment in the first quarter of 1986
its reported revenues for the period ended december 26 1986 of 13 billion dlrs
general instrument corps government systems division said it received a 359 mln dlr contract from the naval air command systems
but prices rebounded today with april us crude prices up about one dlr to over 17 dlrs a barrel on a belief saudi arabia is attempting to curb opec output
proposed offerings recently filed with the sec
it recognised that such arrangements may in certain circumstances reduce credit risk and wish to encourage their further development and implementation and said some of the current proposals may be changed to take this into account
the other lead managers are arab banking corp bank of tokyo ltd and keb asia finance ltd
operating profit from natural resources was 42 mln dlrs up 12 mln dlrs from the prior year
this delicate question was not resolved at yesterdays meeting but lawyers from both sides will try to draft suitable language for a telex by midweek gros and the bankers said
opr shr nil vs seven cts opr net 3000 vs 99000 revs 2745000 vs 2395000 avg shrs 1500000 vs 1375000 year opr shr 24 cts vs 20 cts opr net 343000 vs 271000 revs 107 mln vs 8232000 avg shrs 1459000 vs 1341000 note earnings for year exclude gains due to tax loss carryforward of 210000 dlrs or 14 cts a share in 1987 and 198000 dlrs or 15 cts in 1986
ccr video corp 1st half feb 28 net
operators have now until early may to withdraw this sugar
nine months net is after tax 4991 mln dlrs vs 7226 mln depreciation 5095 mln vs 4273 mln interest 3668 mln vs 2158 mln and minorities 153 mln vs 157 mln but before net extraordinary profit 607 mln vs profit 432 mln
baker bko hughes ht still on s p watch
the bill would make it easier for us industries to win relief from surges of imports of competitive products
shr 11 cts vs five cts net 806000 vs 384000 revs 180 mln vs 156 mln nine mths shr 28 cts vs 17 cts net 2105000 vs 1320000 revs 519 mln vs 461 mln note full name safeguard health enterprises inc
the auditors point out as texaco has in the past the companys loss of any of several pending court decisions in this case could cause it to face prospects such as having to seek protection of its assets and business pursuant to the bankruptcy and reorganization provisions of chapter 11 of the federal bankruptcy code
brooklyn union bu to buy gas from shell oil
baker told a senate appropriations subcommittee on foreign operations as a policy matter we oppose loans for production of commodities in oversupply the senators cited a 350 mln dlr world bank loan made to argentina last year to help it increase its agricultural exports by one billion dlrs a year by 1989
twenty seven people were killed and 18 injured when an indonesian airliner flew into electricity lines and tumbled to the ground in an explosive ball of fire airport officials said
standard and poors corp said it raised to a 1 plus from a 1 the commercial paper of citizens fidelity corp and its unit citizens fidelity bank and trust
the company plans to offer 140 mln dlrs of senior subordinated discount debentures and 100 mln dlrs of subordinated debentures
harris said its dealings in cyclops common stock were made on behalf of its advisory clients
opecs failure to address the recent decline in oil prices remains a worrying factor however and on balance it appears that the market should be approached cautiously montagu said
the continued depreciation of the dollar could also help push up the price of tin the bulletin said
baker apparently sees no reason to speed up the sale
we expect the ministry to give us permission by the end of april he said
madagascar extended its oil exploration agreement with the us firm amoco corp an for 17 months to allow for further studies of the morondava basin on the southwest coast a government statement said
total shipments in the third year of the us ussr grains agreement which ended september 30 amounted to 152600 tonnes of wheat 6808100 tonnes of corn and 1518700 tonnes of soybeans
german institutes warn on money supply
bank of japan to sell 800 billion yen in bills
it said completion is expected to take place april 10
qtly div 68 cts vs 68 cts in prior qtr payable may one record april 14
in january capital repayments totalled 14 mln dlrs with a valuation change that resulted in a fall of 41 mln dlrs due to the quarterly rollover from the european monetary cooperation fund swap
first central financial corp said it expects earnings to rise significantly in 1987 and said it is actively seeking an acquisition
german february industrial output rises 32 pct january fall 34 pct official
encor energy corp inc yr net loss 4066 mln vs profit 354 mln
libra bank expects brazil to reach debt accord london march 5 london based libra bank plc said when announcing its 1986 annual results that it expected brazil to reach agreement with its creditors over debt repayments
devtek corp 2nd qtr jan 31 net
how can i tell that we are ready to fulfill the agreement if the united states does not want to offer us grain at competitive prices said albert melnikov deputy trade representative of the soviet union to the united states
apache corp said it filed with the securities exchange commission a 100 mln dlr convertible subordinated debenture offering
they will be strong buyers of uk assets notably equities once the election is out of the way bell said
tokyo optical issues equity warrant eurobond
london traders say terminal market prices would have to gain around 300 stg a tonne to take the icco 10 day average indicator to its 1935 sdr per tonne midway point or reference price however little progress has been made in that direction and the 10 day average is still well below the 1600 sdr lower intervention level at 156287 from 156946 previously
gulf states gsu sees end to cash by may
the national planning department forecast that in 1987 coffee colombias traditional major export will account for only one third of total exports or about 15 billion dlrs
baker says g 6 pact just a start
sheikh abdul aziz said government revenue would be about 6745 billion riyals down by about 30 pct on the 1985 86 projected revenue of 97 billion
todays agreement brings total loans by the fund to iraq since 1983 to 3906 mln dlrs
terms of the deal were not disclosed
the deadline for a final determination is march 7
on february 17 baker said it had signed an agreement to sell one of the subsidiaries
ppg industries ppg sees growth in 1987
economic growth will remain sluggish in the netherlands and belgium next year and unemployment may rise the organisation for economic cooperation and development forecast
qtly div 82 cts vs 82 cts prior pay april 25 record april one
with the kitty hawk and its group in the arabian sea to the south and the us mideast task force in the persian gulf to the north the united states has 10 warships on either end of the strategic straits of hormuz
us to allow temporary imports of sa uranium
it said it would be an unnecessary expense as most vessels calling at the port already have their own cargo handling equipment
commerce had ruled that one major brazilian producer cutrale would be excluded from the anti dumping duty
the imi statement which referred to recent press reports that such an issue was imminent or possible said imi was still examining the problems involved but gave no further details
he and other analysts said while the better than expected m0 figures alone would not be sufficient to trigger a new interest rate cut they removed an obstacle to such a move
pacer systems to make acquisition
but over the year as a whole domestically generated inflation reached 25 pct offset by a 28 pct drop in imports
the tanzanian government in its second annual budget since embarking on an economic recovery program inspired by the international monetary fund announced increases in fuel prices and sales tax and higher levies on government services
sun cos sun refining and marketing co subsidiary said it raised the price it charges contract barge customers for heating oil in new york harbor by 050 cent a gallon effective today
speaking in a televised news conference linking several european capitals shultz said it was heartening that the japanese had confronted the problem of stimulating domestic and global demand
panic said today he would not discuss the drug with regard to aids until the food and drug administration completes its review of data submitted by the company
barley deliveries were also unchanged at 662 mln tonnes against 77 mln in 1985 86
k o p equity warrant bond expected to be swapped
banking sources said brazils debts to foreign governments as opposed to commercial banks now benefit from a sounder structure following last months rescheduling by the paris club of creditor nations of 412 billion dlrs of official debt
bankers said the aaa accord negotiated by a committee led by saudi british bank is a likely model in that banks have not insisted on full repayment of all obligations
it said cautiously that us forces attacked late sunday and that two iranian oil platforms east of bahrain were ablaze as a result but cbs news and other networks said flatly that us forces attacked the iranian oil platforms
strong growth in domestic demand was a key feature of the economies of southern european countries in 1986 though the growth is seen slowing this year and next the organisation for economic cooperation and development said
other state held companies earmarked for privatisation this year include engine maker rolls royce plc and the british airports authorities plc
the federal reserve is offering to buy all maturities of treasury notes and bonds for its own account for regular delivery a spokeswoman for the new york fed said
plywood credits eyed by reagan administration
soybean plantings could drop to 59 mln acres or below they said compared to last years level of 615 mln acres
acceptance of exchange offer by 90 pct of the debenture holders will enable consul to decrease its outstanding indebtedness and report profitably beginning in the first quarter of 1988 lamp told analysts
in the short term the kingdom can lessen the impact of lower oil revenues and a gaping budget deficit by drawing on foreign reserves still put at around 100 billion dlrs
oil imports peaked in 1977 at 47 pct were short of 36 pct last year and this year are up over 40 pct bentsen said
an internationally comprehensive market system is needed to lure more overseas investors into the japanese market jbris yoshida said
the 12 year bonds will carry a coupon of 4 3 4 pct and will be sold primarily to european investors for 10025 pct of face value dow said
we are overdoing it in holding too short a meeting
but greenidge said guyana has taken steps to reduce its fiscal deficit which now amounts to 65 pct of gdp
the issue is callable in the first three years only if the stock prices rises abouve 130 pct of the conversion level
but he added that firms hoping to take part would have to come up with package deals involving soft loan financing
for the nine weeks ended april four sears merchandise group sales rose 45 pct to 446 billion dlrs from 427 billion dlrs in the same 1986 period
energy analyst proposes us oil tariff
this will include 30 mln shares of common stock and 15 mln shares of class b common stock it added
if we sell the best quality and the cheapest products everyone will buy them mhi president yotaro iida said
his comments were seen as possibly indicating what the the administrations position is in the debate over what should be done to make soybeans competitive and at the same time protect soybean farmers income
for the time being we just await developments
reynolds owns stakes in the mount gibson gold project and the boddington gold project both located in australia
the transaction would have no impact on avons current dividend rate it said
goldman sachs given bogus exxon bonds in trade
the company said the proceeds from both sales will be roughly equal to the 3330000 dlrs it originally invested in united coasts in late 1985 even though it will retain a 199 pct stake
the issue price of the warrants has been fixed at 30 guilders each
a ministry official said earlier this week the ministry had recently surveyed currency transactions by investors but declined to say whether this aimed at reducing their dollar sales
bzw said its parent barclays bank had subsidiary companies active on the stock exchanges of zurich milan and paris which bzw planned to use to strengthen its presence in continental europe
swiss offers new series of money market paper
although the agreements were signed in the sumptuous surroundings of a midtown manhattan hotel the atmosphere of the signing ceremony was rather subdued with bankers and officials showing little of the elation and relief that normally follows the conclusion of a mammoth deal
one problem is that there has never been a major default in the swaps market
banponce corp bdep 1st qtr net
martin processing inc said its board approved an agreement to be acquired by courtaulds plc coul for 20 dlrs a share
in the first 78 days of the year refinery runs were up 18 pct to an average 1225 mln bpd from 1204 mln in the year ago period the eia said
the sale was opposed by commerce and the us defense department in part on national security grounds
it accepted 66 billion dlrs of bids including 21 billion dlrs from the federal reserve and 180 mln dlrs from foreign and international monetary authorities
for the public offering it said there will be an underwriters overallotment option to purchase 18 mln shares
lead underwriters josephthal and co inc emmett a
aluminium scrap recovery and usage to rise
it said us regulatory authorities and the bank of england were keen to encourage banks to net contracts consolidate multiple contracts with the same counterparty into one single agreement to create one single payments stream
he said the nation would later announce plans to deal with the countrys 816 billion dlr foreign debt
trandy brands inc said 80 mln dlrs of 85 pct 10 year subordinated convetible notes were placed with a private institutional investor by goldman sachs and co
lisbons civil court decided in a preliminary ruling earlier this month that epac should not be allowed to take part as it had done in the past in tenders for the liberalised share of annual grain imports
this banker who has discussed debt questions with greenspan described his views as simplistic
ronald gallatin managing director at shearson said that demand for the offering was unbelievable especially for the first tranche he said that shearson originated the concept of auction money market preferred stock three years ago
the key bond has fluctuated less than five basis points for more than a month here suggesting most dealers could not satisfy their needs for capital gains dealers said
the stocks usage ratio for palm oil was 114 weeks last october and is likely to be 87 weeks next october and 77 at the end of next season mielke said
arbitrageurs said the conversion formula yielded a negative number and thus they needed further information from the company
the bank of japan intervened in the market to keep the dollar above 149 yen but the unit was under strong selling pressure by an investment trust dealers said
baker denies dollar target exists
mees said saudi arabia was pumping more than 300000 bpd of its total production into floating storage
this shows that the impact of energy prices on inflation is behind us in terms of the move from 15 dlrs to 18 dlrs per barrel said maria ramirez of drexel burnham lambert inc
cake sales were registered at 785 to 995 dlrs for march april 785 dlrs for may 753 dlrs for aug and 039 times new york dec for oct dec
bond international sells hk residential building
china faces extended sorghum shortage
the preferred shares to be issued to first boston have 8160000 votes
dome also said the write downs included a fourth quarter reduction in the value of its oil and gas properties of 120 billion dlrs before a reduction in deferred income taxes of 305 mln dlrs
shr loss 270 dlrs vs loss 25 cts net loss 606 mln vs loss 3122000 revs 1010 mln vs 1677 mln note 1986 includes charge of 441 mln dlrs due to writedown of oil and gas interests writeoff of goodwill and patents provision against disposal of surplus inventory losses on disposition of operating units and writedown of assets held for disposal
dixons group plc said only about 852000 shares of cyclops corp common stock or 20 pct on a fully diluted basis were tendered and not withdrawn under its bid for all shares that expired yesterday but the companmy has still decided to accept all shares validly tendered
burmah has the financial capacity to continue making acquisitions within its business sectors it added
the company provided 20 mln dlrs against operating profit for the year to cover mark downs on stock
its not reasonable said a spokesman for international business machines corp ibm which supports western lifestyles for more than 350 foreigners in tokyo
he said the company present in africa since 1932 and with majority stakes in six breweries and interests in 25 was hampered by the lack of hard currencies there
but profits will be at a satisfactory level the company said in the annual report without giving a specific estimate
analysts said the companys estimates of fuel price and currency movements set out in its prospectus were conservative
the rate for the west german mark was 91328 today a sharp drop from september when it was 78606
shr 50 cts vs 46 cts net 430 mln vs 348 mln year shr 155 dlrs vs 138 dlrs net 1368 mln vs 1129 mln note holding company
he also said that to curb inflation salary increases would have to be below the inflation rate
in an earlier round of the case decided in 1984 the supreme court upheld the sias contention that commercial paper is a security for the purposes of th glass steagall act
kuwaits oil minister said in a newspaper interview that there were no plans for an emergency opec meeting after the recent weakness in world oil prices
federal funds which averaged 605 pct yesterday opened at 5 15 16 pct and remained there in early trading
the compromise narrowed the range of differentials between the origins from what previous proposals had detailed a move some delegates described as just fiddling but the adjustments may prove significant enough to appease some countries that were not satisfied with the original proposed differentials assigned to them delegates said
usda accepted algerias bid of 9400 dlrs per tonne c and f for 50000 tonnes for nov 10 25 shipment and 25000 for nov 20 dec 10 the sources said
the department has just begun to receive relevant information on trailways financial condition and is in the process of assessing the correctness of the companys allegations acting assistant attorney general charles rule said in comments submitted to the icc
net in 1986 included 108 mln from discontinued opers and an extraordinary credit of 52 mln from utilization of loss carryforwards
lo said income from ship repairing almost doubled to 20 mln us dlrs in the year ended june 1986 compared with the previous financial year
perus reserves fell sharply due to a drop in the trade surplus to about five mln dlrs in 1986 from 11 billion in 1985 according to preliminary central bank estimates
cargill confirms white sugar sale to india
suburban bancorp inc and woodstock state bancorp inc said they agreed to a merger under which suburban will purchase woodstocks shares for a total of more than 18 mln dlrs in cash and suburban bancorp shares
paris trade details ec grain tender result
he said the government did not intend to change its resource rent taxation rrt legislation now before parliament in response to industry calls to allow all exploration expenditure in a given area to be deductible
cocoa council meeting ends after agreeing rules
foreign exchange reserves fell 306 billion francs to 3064 billion
new zealand unemployment falls in february
he said that the average premium of shares trading on the bourse was between 15 and 30 pct over their offer price
manufacturers hanover trust co and cit group business credit inc increased its tender offer commitment to 197 mln dlrs from 166 mln dlrs and its merger commitment to 275 mln dlrs from 250 mln dlrs
theres been rumors that theyve taken a position in the company said wood gundie analyst edward comeau
but according to the merrill lynch economists there are signs the pall hanging over the us bond market is lifting a bit
canada declined to state a position
canadian pacific said favorable developments during the year included reduced bulk shipping losses as a result of a recovery in tanker markets and a turnaround in the forest products sector
he estimated total vegetable oil production this year at 334 mln tonnes up from 330 mln last year and disappearance at 340 mln tonnes up from 326 mln
the proposed european community ec tax on vegetable oils and fats is no longer a major issue on the agenda and the ec commission merely used it as a threat the west german feed stuffs industry association mfi said
it explained that owens illinois which has been one of the dow 30 since 1959 is the object of a leveraged buyout
its offer originally was scheduled to expire march 17 but was extended for one week
the international coffee organisation which represents both consumers and producers has so far failed to reach agreement on quotas
gold exports totaled 243191 ounces in december vs novembers 374468 ounces and 350078 ounces in december a year earlier
crazy eddie said if a party were to acquire 30 pct or more of its common stock and then fail to acquire crazy eddie within 180 days thereafter rightholders would be entitled to exchange their crazy eddie common stock for subordinated notes of crazy eddie maturing either one year or above a certain dollar limt five years after issuance
the world farm market suffers from surpluses because of rising production by exporting countries he added
in 1986 avons operational earnings rose 24 pct to 1587 mln dlrs from 1282 mln dlrs a year earlier and sales rose 17 pct to 288 billion dlrs
it said the parties have until june 29 to agree to all terms of the letter of intent
dresser di to sell unit to rosenkranz and co
barclays bank plc bcsl and midland bank plc mdbll said they are cutting their base lending rates to 105 pct from 11 pct
royal bank of canada said it is raising its us base lending rate by 1 4 pct to 8 1 4 pct effective tomorrow
respondents said finance was harder to obtain which westpac chief economist bob graham said was probably because of high interest rates rather than the availability of money
cedel is also reviewing all notes within its system exxon added
energy drilling industry
in many cases prices are still lower than those attained in 1984 it said
foreign minister tadashi kuranari will accompany nakasone ministry officials said
approximately 15 mln tonnes of yugoslav corn have already been committed to foreign buyers for 1986 87 with most of this sold to the soviet union the yugoslav grain association reported to the us official
after acquiring all of standard most of bps reserves would be in the us but only about six pct of its stock is held in the us the only way they can sell all that stock is to move it into the united states
beet sugar production expressed as white equivalent was estimated at 344 mln tonnes in france 317 mln tonnes in west germany 172 mln in italy 130 mln in britain 122 mln in the netherlands 936000 tonnes in belgium luxembourg 499000 in denmark 287000 in greece 183000 in ireland and 4000 in portugal
shirmax fashions ltd shxm 1st qtr net
bralorne resources ltd said it reached agreement in principle with its long term lenders for a debt rescheduling plan
soviet officials have said they would buy us wheat if it were competitively priced
the plant no longer fits the companys long term strategy du pont said
a similar bill has been introducted this year in a congress with a bigger democratic majority and with a president weakened by the iran scandal
the spokesman declined to give the size of the recommended price drops but said it would not be good news for western canadian grain growers
britains highest court has decided the international tin council itc can appeal over the use of itc documents in court actions
energas egaso to buy texas american tae unit
with these corn purchases japan is committed to buying 77 mln tonnes of us corn in 1986 87 sept aug nearly 400000 tonnes greater than year ago figures to date
franklin california tax free sets payout
keller said she expects the company to split its stock and raise its dividend to at least three dlrs a share this year
the analysts said that to get others to hold the line saudi arabia pushed hard at the meeting of deputy oil ministers of the gulf cooperation council last weekend and at the cooperation council oil ministers meeting the previous week
mueller brass co said that effective with shipments today it is adjusting the price of all brass mill products except free cutting brass rod and related alloys and copper water tube and related products to reflect contained copper values at 73 cents a pound down two cents
on february 23 chas
he complained that official lending agencies had imposed tight control on credit over the past four years leaving commercial bank refinancing as the only credit available
cts corp said it increased its 1986 loss from continuing operations to 266 mln dlrs from the previously announced 238 mln dlrs loss
for the fiscal year ended april 3 1987 electrospace systems had earnings of 10 mln dlrs on sales of 191 mln dlrs
this is a record in the history of brazilian agriculture a ministry spokesman said
also borealis and faraway will issue treasury shares to each other and faraway will buy 575000 borealis shares from borealis president lorne spence
the gib study reviewed capital markets under three categories money markets stock and bond markets
1985 86 season at 915 vs 915 last month
care enterprises cre 4th qtr loss
however lyng said he did not want to make a definitive commitment one way or another at this point under the accord covering 1983 88 the soviets agreed to buy at least nine mln tonnes of us grain including four mln tonnes each of corn and wheat
economists have been cutting growth forecasts recently mainly due to expectations of a poor export performance this year notably to eastern europe and oil exporting states
the issue is guaranteed by fuji bank and payment date is march 17
united states lines lays off far east staff
shr profit 23 cts vs profit 49 cts net profit 241 mln vs profit 496 mln revs 7554 mln vs 7083 mln nine mths shr loss 84 cts vs profit 153 dlrs net loss 807 mln vs profit 1523 mln revs 119 billion vs 232 billion note per shr reflects payment of preferred dividends
total copper stocks held by us rod mills and refiners including wirebars cathodes scrap rod and in process material dropped to 155467000 lbs at the end of january from 203513000 lbs at the end of december the american bureau of metal statistics said
in order to expand participation by foreigners the syndicate must either expand the securities industrys 26 pct share or introduce auctions to the primary market they said
lincoln foodservice linn completes purchase
the company said proceeds will be used to repay bank debt and for working capital
as far as i am concerned and the company is concerned they are rumors and were not commenting on rumors spokesman michel dufour told in response to a query
australias official reserve assets fell to the equivalent of 850 billion us dlrs in february from 915 billion in january compared with 906 billion a year earlier the reserve bank said
this favored opecs attempts to stabilise prices as the lower the price the more likelihood there was of non opec marginal production shutting down
he said geologic condtions in the area were favorable for the discovery of oil fields equal to those in nearby prudhoe bay
the weather bureau said the rains which in buenos aires have surpassed 750 mm in the last 30 days could continue
houston industries inc hii increases div
january 1986 exports compared with a december figure of 150 billion guilders and were 25 pct below last years level of 189 billion
the country has an imf quota of 1371 mln sdrs 175 billion dollars according to the funds 1986 report
the bundesbank is unlikely to change credit policies when its central bank council meets on thursday for its last session before the venice summit banking economists and money market dealers said
valero natural gas was formed to buy valero energys natural gas pipeline and liquid assets
the dutch finance ministry said it accepted bids totalling 325 billion guilders on its 625 pct bullet bond due 1995 which it priced at 1008 pct at tender today for an effective yield of 612 pct
it expects its revenue to approximately double in 1987
separately commerzbank ag said in a report that the focus of west german exports this year was likely to shift to europe because of an expected downturn in growth in the dollar area
soybean sales of 240500 tonnes were one fifth below the prior week and nearly one third below the four week average
firms in submitting offers may elect to receive payment from the mint by standard check or by wire transfer
bhagat said the fci had a total of 1643 mln tonnes of food grains in its warehouses at the end of 1986
agriculture and services were included in the negotiations for the first time
ferc decision could cut columbia gas cg net
shr four cts vs 15 cts net 132851 vs 501537 revs 10 mln vs 155 mln six mths shr 12 cts vs 24 cts net 409383 vs 812045 revs 194 mln vs 291 mln
no spokesman for guinness was immediately available for comment on the statement
the companys earnings had not been hit by the halving of brokerage fees some 14 months ago as volumes had since doubled
southmark corp said it has completed the purchase of georgia international life insurance co from capital holding corp cph for cash and southmark securities worth over 85 mln dlrs
uk april industrial output rises 03 pct manufacturing up 055 pct official
treasurys baker says he hopes prime rate increases temporary
the basis position will be afloat may july shipment or june arrival delivery
societe generale president marc vienot said in december he expected group 1986 consolidated profits to rise to between 25 billion and 26 billion francs from 162 billion in 1985
lichtblau speaking at an alternative energy conference here said the us may depend on foreign suppliers for as much as 52 pct of its oil by 1995 surpasssing the previous high level of 47 pct in 1977
but it gave no figures
dealers said market fundamentals could justify a further easing but a combination of technical factors and renewed currency uncertainties surrounding the dollar had put short term upside pressure on interest rates in recent sessions
the international share in turnover was 50 pct in 1986 compared with 52 pct in 1985
it set a lira d mark rate of 43015 43230 to the mark down from 42830 43044
lewis said shearson contributed 316 mln in after tax operating earnings up from about 200 mln dlrs in 1985
western diplomats in the region say iran was responsible but tehran has blamed its gulf war enemy iraq
but such overproduction was compensated for by a sharp fall in saudi arabian output together with irans inability to export as much as its quota allows
2 the ministers and governors reaffirmed the commitment to the cooperative approach agreed at the recent paris meeting and noted the progress achieved in implementing the undertakings embodied in the louvre agreement
canadian economic growth is expected to slow further in 1987 but an improved the trade picture should keep the country from recession economists said
if it received the short form approval general partners would set up a trust which would hold the broadcasting properties until the licensing situation is resolved
sumitomo is japans only nickel producer
usda also said the 0 92 provisions in the bill were narrower than the administrations proposal to offer the option to all major commodities and would produce insignificant savings
the ec commission itself has switched its tactics in recent years substituting general calls for action by japan to open its market with specific demands for moves in key areas
it said the buyers include an investment group composed of the units management
the securities are available in denoninations of 10 mln yen each and will be listed on the luxembourg stock exchange
a ferruzzi spokesman later confirmed that the group was studying the transfer of the cpc business to european sugar along with a possible share offering in the paris unit but gave no details
unocal said it raised its postings for crude oil by 50 cts a barrel effective june 17
commercial and industrial loans on the books of the 10 major new york banks excluding acceptances fell 222 mln dlrs to 6405 billion in the week ended march 18 the federal reserve bank of new york said
before the transaction with hutton lbo was announced analysts had also speculated another courier company would be the most likely suitor
the company said prices to distributors and direct customers on shipments of new orders placed march 4 and after will be increased by four to eight cts per lb
mexico has temporarily suspended overseas coffee sales due to falling prices triggered by the failure of the international coffee organisation ico meeting to agree a quota system at its latest meeting the official notimex news agency said
shr 47 cts vs 46 cts net 3470859 vs 3454577
nigerian currency firms at latest auction
the national wildlife federation rejected an interior department draft plan to open wilderness lands in northern alaska to oil and gas exploration
in a newspaper advertisement mts said the offer and withdrawal rights expire april three unless extended
the chemlawn board has approved the tender and a merger at the same price that is to follow
precious metals climate improving says montagu
mobil plan to open peking office china daily says
the hearing date has now been put back slightly to june 8
1986 operating profits were higher in all areas apart from zimbabwe mines which were hit by the strength of the local currency against the dollar
finance ministers from the 13 member caribbean community caricom approved a draft agreement for a new export credit facility in an effort to stem the steady decline in interregional trade
this would leave a budget deficit before borrowing of about seven billion rand or four pct of gdp
the long term effect of the transaction on cpcs earnings should be positive it added as it will allow capital expenditures to be cut back and will reduce corporate and divisional overheads as well as operating expenses in the european business
s p downgrades michigan general mgl debt
capital rose to 5351 billion dlrs from 5317 billion dlrs in december
debtor nations should not have to take from their own pockets that is their commercial balance to meet interest payments he added
renouf corp of new zealand said it has decided to proceed with its offer for all outstanding units of benequity holdings at 31 dlrs per unit
a bidding war for viacom international inc one of the largest us entertainment companies pitted a management group and other investors against national amusements inc a closely held theater operator
freedom federal savings bank said it voted its first cash dividend of 10 cts a share payable april 10 record march 31
a 55 mln stg convertible issue for confectioners rowntree mackintosh was well bid at 104 5 8 105 1 8 pct and expected to go well
the credit line from four local banks was set up on december 3 1985 to bail out firms involved in forward contracts with pan electric which went into receivership in november 1985 owing 390 mln dlrs
time inc said the acquisition of scott foresman and co last year will dilute earnings per share by about 17 cts a share for the full year in 1987
subsequent rates on the inverse floater will equal 11 1 2 pct minus the product of three times libor minus 6 1 2 pct a thomson officer explained that the coupon of the inverse floating rate tranche would increase if libor declined
sterling remained firm around 159 dlrs compared with its close here on friday at 15865 dlrs
new generation products inc said it has acquired a 20 pct ownership in personal protection technolgies inc new generation said personal protection is developing a group of personal care products which are effective in killing a variety of viruses and bacteria on contact for us and export markets
investment in new activities in 1987 should continue at a relatively high level to exploit opportunities for growth
the oil price in us dlrs is above the 1986 average and if sustained should improve energy earnings
he said shintaro abe the ruling liberal democratic partys executive council chairman would propose some unspecified measures in response to demands to ease import controls on us farm products
nuclear metals inc said it has received a 6300000 dlr us army contract for 105 millimeter depleted uranium penetrators used as ammunition for the m 1 tank
gencorp said its first quarter earnings from operations rose four pct as sales increased six pct to 650 mln dlrs from 614 mln a year earlier
brazilian consumer prices rose 139 pct in february compared with januarys record rate of 168 pct the brazilian geography and statistics institute ibge said in a statement
last year it exported an average of 173500 bpd according to the central bank
qtr ends jan 31 shr profit eight cts vs loss 38 cts net profit 2466000 vs loss 12691000 revs 1111 mln vs 1068 mln 12 mths shr profit 20 cts vs loss 47 cts net profit 6591000 vs loss 155 mln revs 3426 mln vs 3704 mln note includes provision for store closings of foreign operations of 3897000 for 1986 qtr and 1403000 for qtr prior
hilton hotels corp said its first quarter net income rose 37 pct paced by strength in both hotels and gaming
earnings per share were 266 dlrs compared with 227 dlrs
one factor affecting industrial growth was the introduction of a new quality control plan western economists said
the international telecommunications union which regulates communications worldwide decided at the end of a five week conference to allow mobile phone systems to be linked with satellites telecommunications officials said
servotronics inc said it declared a 10 pct stock dividend payable may 15 to shareholders of record april 21
reached later an inland steel industries inc iad spokesman said the company was studying the pricing move
the committee believed the shared involvement in stockpile management was counter productive he said
president alan garcia said peru has found gold deposits worth an estimated 13 billion dlrs in a jungle region near the ecuadorean border about 1000 km north of here
includes gain of 66 mln dlrs in current year from purchase of envirodyne industries inc shares and charge of 14 mln dlrs in current qtr from research and development costs
period ended august 31
payment is april 14
comp u card international inc cucdo 1st qtr
media general said the increased dividend is payable june 12 to shareholders of record may 29
one way or another we will force our major trading partners to stimulate their economies as a measure to correct the mounting us trade deficit chronowitz said
although net exports will add 07 pct to gnp this year after reducing it by 12 pct in 1986 consumer spending will contribute 14 pct less to gnp than it did last year
those who supported us today can be sure that mexico will continue to be open and willing to share with them the business opportunities which its future growth will create
it makes sense that we divide the business session from the trade show sweet said
us treasury sets date for new strips measure
nissan chief financial officer atsushi muramatsu in a speech before an automotive seminar said he attributed the improvement to cost reductions and rationalizations of operations
were not very enthusiastic about nigerias debt rescheduling said a senior official at a leading japanese bank
the average weekly earnings of us workers after adjustment for inflation and seasonal changes rose 06 pct in february after being unchanged in january the labor department said
wppss attorney ron english said the system was advised by sec staff attorneys that the five sec commissioners would be asked to charge wppss in connection with its official statements about its plans to build its no
to convert the debts a bank would have to find a borrower looking for a loan with a 10 year maturity and then negotiate individually the interest rates to be charged
iraq has been insisting on a quota equal to its gulf war enemy iran which has a quota of 2255 mln bpd rising to 2369 mln in the second half
1st qtr shr 16 cts vs 10 cts net 808850 vs 297266 revs 139 mln vs 7588280 avg shrs 4926566 vs 3123411
kay corp kay 4th qtr net
piw said that refiners in the mediterranean can expect increased shipments from saudi arabia and other opec export refineries
timminco acquires universal adhesives
some arbitragers said they were concerned the ongoing issue might be a stumbling block or result in a long period of time for any transaction
the ministers have said they want to maintain the momentum towards fresh negotiations or avert serious trade conflicts
swedens boliden to announce major corporate takeover today official
iraq said its warplanes had attacked a supertanker and four iranian oil sites and vowed to keep up such raids until the gulf war ends
they saw near term technical support at 1825 marks and 145 yen and resistance about 183 marks and 146 yen
that deal awaits approval by the federal communications commission
it has risen about two cents this week alone
proponents of an expansion of 0 92 maintain there are large estimated cost savings of such a bill ranging from estimates by the administration of 200 to 500 mln dlrs
its the purest play and benefits most from higher copper prices one said
at that time directors also indefinately postponed a planned special shareholders vote on a restructuring proposal which would have created a class b common with 10 votes a share and limited transferability
under the accord which began in january third countries were guaranteed access for the next four years for two mln tonnes a year of maize to the spanish market as well as 300000 tonnes of sorghum
in a filing with the securities and exchange commission the halcyon group said it bought the stake for 156 mln dlrs for no specific purpose
a spokesman for british aerospace said it has no present or future intention of making a full bid for systems designers
latest monthly m 2 and m 3 data showed that as of may both measures were growing at rates below the bottom of the feds 5 1 2 to 8 1 2 pct target ranges
the decision to offer fixed rate loans industry officials said reflects the increasingly competitive nature of the home mortgage business
crude throughput volumes are expected to be unchanged to slightly higher or lower than the week ended march 13 traders said
city resources ltd said it has agreed in principle to sell a 50 pct interest in a group of mineral properties in the southwest pacific to a buyer it did not name for 30 mln canadian dlrs
chemlawn chem rises on hopes for higher bids
colonial bancgroup clbga makes acquisition
metropolitan financial corp said it signed an agreement to acquire the stock of closely held rothschild financial corp st
this means a 32 pct rise in total dividend payments to 52814 mln francs on 1986 results from 39962 mln the previous year
he terms of the transaction were not disclosed the company said
counsel corp sets three for two stock split
the borrower is wholly owned by international business machines corp ibmn
ameritrust currently has about 209 mln shares outstanding with 25 mln authorized shares
balance sheet total 4867 billion marks vs 4901 billion
yugoslav trade is declining rapidly this year in hard currency terms according to the latest federal statistics office fso figures
the purchase owuld be financed largely by equity but uncertainties exist as to the amount of debt to be assumed by mepc and the quality of the properties in oldhams portfolio s and p said
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
maxwell files suit to stop harcourt hbj 
a foreign ministry official told japan has done what it can and now we must persuade the united states to wait for those steps to take effect the us alleges that in defiance of the september agreement japan is still selling microchips at below cost in non us markets and refusing to open japan further to us chip sales
union and new south wales government officials have reached a compromise in a dispute over workers compensation averting increased industrial action in the state union sources said
japan firm plans to sell us farmland to japanese
earlier echlin reported first half fiscal 1987 ended feb 28 earnings of 232 mln dlrs or 48 cts a share up from 166 mln or 40 cts a share in the prior years first half
the south australia government financing authority is issuing a 25 mln australian dlr zero coupon bond priced at 5175 pct lead manager hambros bank ltd said
the well was drilled by a group of japanese companies
the government can rely on the support of the world bank in a continuing program of adjustment to the economic realities of todays world he said
it said the officials reaffirmed the view that around current levels their currencies are within ranges broadly consistent with economic fundamentals and the basic policy intentions outlined at the louvre meeting
silicon valley bancshares sets stock payout
despite the market reaction first boston corp analyst arlene barnes applauded the pacific gas decision
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
in its world production and trade report the department attributed the decline to relatively poor profitability of sugar causing harvested area of cane and beets to decline seven pct from 1985 86
congressional staff members estimate the special farm worker amnesty provision would apply to between 250000 to 350000 aliens
twa said all usair stock owned by it would be in a voting trust and voted in the same proportion as the vote of all other usair shareholders
brazil has in the past rejected a substantial role for the imf in managing its economy arguing that an imf austerity program by promoting exports and dampening domestic consumption would lead to recession and threaten democracy
australian minister for trade negotiations michael duffy said his country and third world commodity producers have formed an effective lobby group against farm export subsidies and market access restrictions
oper shr 40 cts vs 47 cts oper net 2292000 vs 2688000 sales 819 mln vs 789 mln nine mths oper shr 120 dlrs vs 140 dlrs oper net 6842000 vs 7978000 sales 2447 mln vs 2342 mln note 1986 net both periods excludes 2223000 dlr special charge
fed to purchase treasury bills for a customer
the stock markets bullishness late last week was partly due to funds transferred from us treasuries dealers said
chemical fabrics said the companies will cooperate on the development of new products for architectural and industrial applications and may supply architectural materials to each other
lawson wants to delay a cut in base rates until the budget
on the continent shippers agreed 19 dlrs for wheat from la pallice to buenaventura and 1075 dlrs for grain from ghent to naples venice range
federal reserve board chairman paul volcker said that he did not believe there was a connection between the feds policies and the recent rise in the prime interest rate by most major us banks
commodity pacts more oriented towards market
in addition the banking committee bill would authorize us banks to use a variety of means to deal with the debt problems of developing countries such as lowering interest rates on existing debt renegotiating loans or debt forgiveness
oper shr 50 cts vs 40 cts oper net 208 mln vs 164 mln revs 5317 mln vs 4187 mln note 1987 1st quarter net excludes a gain of 471 mln dlrs or 114 dlrs a share for discontinued operations
the august budget had forecast domestic demand would contribute 075 percentage points to non farm gdp growth of 25 pct while net exports would account for 175 points
indonesia has issued licences to traders to import palm oil to avert a possible shortage of cooking oil during the moslem fasting month of ramadan in may trade minister rachmat saleh told 
world bank president barber conable said he believed brazils decision to suspend foreign debt interest payments is temporary
fundamental to achieving that goal is to continue to reduce costs dramatically to get our arms around our loan loss problems and begin to reduce charge offs and to enhance our revenue generation clausen said
congressmen said the change would have required the us international trade commission to impose limits on car imports in 1981
another factor was the quality of the harvest in cuba chinas major supplier through barter trade he said
we are not politically motivated funding was just becoming too expensive and we dont need all that money he told adding the department had suspended issues at least twice in the past when offered interest rates were above or below market rates
the french domestic bond issuing committee said it has approved three new issues totalling 18 billion francs
qatar is said to be achieving sales of around 350000 bpd against its opec assigned quota of 299000 by discounting up to 20 cents a barrel from official prices the sources said
he has proposed a return to the free market which under ec law is supposed to exist except in times of manifest crisis but diplomats said some ministers who meet to discuss this idea on march 19 will argue that steel firms are in crisis in their countries with orders falling as customers switch to alternative products and accounts firmly in the red
north vietnam has set a 1990 food target of 23 to 24 mln tonnes
it is being played by opec membership as a whole because the reduction in the 158 mln bpd share of opec in the market is being shared by other members of opec nazer said
siew said the talks starting on april 14 would cover us calls for taiwan to open its market to american products purchases of major us machinery and power plant equipment import tariff cuts and protection of intellectual property
the pacific stock exchange said it will start options trading on baker hughes inc today
arizona forecasts will be dropped for lemons oranges grapefruit and tangerines in november december february march may and june with forecasts retained in october january april and july it said
it said comed had 1986 revenues of 300 mln dlrs and earnings of 650383 dlrs and had revenues for the first four months of 1987 of 136 mln dlrs up 60 pct from a year before
for the maize rebates requested range between 12925 and 13874 european currency units per tonne for the barley between 13894 and 145 ecus and for feed wheat 14175 ecus
shr 43 cts vs 30 cts net 106 mln vs 5967000 revs 629 mln vs 415 mln avg shrs 2007 mln vs 202 mln year shr 126 dlrs vs 85 cts net 301 mln vs 166 mln revs 2108 mln vs 1216 mln avg shrs 239 mln vs 194 mln note share adjusted for january 1987 two for one split
fungicide may be used to curb the disease which also affects leaves of 30 other species of plants but experience has proven that it is uneconomical and expensive he added
gillette shares rose sharply at the beginning of the month on wall street rumours that sir james goldsmith was building a stake in the company
shr 516 cts vs 347 final div 135 vs 125 making 190 vs 180 pre tax 133 mln rand vs 137 mln net 260 mln vs 172 mln tax 76 mln vs 42 mln att to outside shareholders 96 mln vs 53 mln pref div 1 mln vs same turnover 314 billion vs 256 billion div pay may 8 register march 27
there was no sign today of an early end to the seamens strike which has badly hit the port of santos the most important in south america and the countrys other main ports
qtly div 25 cts vs 25 cts prior payable may 6 record april 24
traders said they believed buffer stock purchases could reach 75000 tonnes in a matter of weeks without lifting prices significantly given the amount of surplus cocoa overhanging the market
shr 23 cts vs 42 cts net 1387000 vs 2532000 revs 805 mln vs 826 mln
cabinet spokesman abdul aziz al otaibi quoted by the kuwaiti news agency kuna yesterday said foreign minister sheikh sabah al ahmed al sabah had told cabinet he had found complete support at this delicate phase during visits to gulf cooperation council gcc states
he also said that he told bankers about brazils needs to ensure a seven pct average growth and eight billion to 11 billion dlr trade surplus until 1991
in its world production and trade report the department said traders indicated china may lack supplies or be unwilling to sell at current low world prices
meanwhile treasury bills outstanding at year end totalled nearly 70 billion dlrs an increase of 103 billion dlrs over the year and 20 billion dlrs since 1984
a soviet ship will load 25000 tonnes at the pacific port of punta morales monday alfaro said and a second ship will take an additional 7107 tonnes two days later
terms were not disclosed usa network said
john mowlem plc the uk building and construction company has arranged a 50 mln stg commercial paper program with an option to issue notes in us dollars mowlem treasurer philip ridal said
the supplementary budget worth about 3448 billion dlrs was announced by the ruling liberal democratic party on the eve of miyazawas departure for washington to attend yesterdays meetings of leading industrial nations
del e
an additional 7000 tonnes of semolina are still available to egypt under the export enhancement program initiative announced august 1 1986 it said
locally heavy showers dotted indonesia and malaysia as rainfall generally decreased eastward through the islands
premdor manufactures and sells wood doors
mexico recieves first 250 mln dlrs of japan loan
both ships were hit in the territorial waters of kuwait a key backer of iraq in its war with iran
british telecom shares were last quoted at 246 1 2p level with late yesterday in the wake of results which were in line with market expectations dealers said
digital communications associates inc said it agreed with fox technology inc foxto to buy its fox research inc unit for a cash payment and the assumption of liabilities of around 10 mln dlrs
general motors corp will idle six of its car assembly plants next week temporarily laying off 21600 workers according to spokespersons for the companys groups
it said a portion of the proceeds from the offerings together with the proceeds form the new bank loan wll be used to repay the 395 mln dlr bridge loan merrill lynch and co inc mer provided for itel to buy anixter
the number of platinum items marked fell 125 pct to 1785 while in weight terms the total slipped 81 pct to 9849 grams
norway will extend its 75 pct cutback in planned north sea oil output in support of opec from july 15 until the end of this year oil ministry spokesman egil helle told 
nippon life shearson tie up seen setting trend
shr 111 dlrs vs 104 dlrs net 44092000 vs 35145000 revs 194 billion vs 134 billion note 1986 results include extraordinary gain of 1035000 dlrs or six cts a share from secondary share offering of canron unit
track 149 204 485 252 toledo 141 204 150 478 239 memphis 159 195 171 490 286 peoria 151 480 260 denver 156 156 254 evnsvlle 154 204 150 217 490 261 cinci 152 204 150 217 485 258 mpls 134 175 150 185 468 balt nor phil 170 180 498 312 kc 149 156 164 476 258 st lo 154 166 490 291 amarlo lubbck 184 140 475 292 lou gulf 173 505 312 port seattle 187 210 168 stockton 218 223 210 400 la 254 250 438 duluth 134 175 150 185 468 tex gulf 173 148 173 505 312
cumulative net pack for the season was 80359978 versus 74071755 a year ago
shr 24 cts vs 33 cts net 347000 vs 469000 sales 165 mln vs 140 mln nine mths oper shr 93 cts vs 94 cts oper net 1327000 vs 1342000 sales 488 mln vs 345 mln note current nine mths net excludes 756000 dlr gain from termination of pension plan
last year almost 245 mln acres of those crops were harvested
zccm recorded a net loss of 718 mln kwacha in 1986 compared with a net profit of 19 mln kwacha the year before
chrysler corp said it will use a product designed by telecredit incs light signatures inc unit to prevent counterfeit automotive parts
dollar opens at record tokyo low 14375 yen previous record 14470 dealers
the two institutes said external economic factors which were currently damaging exports and pushing up imports would dominate the economic environment throughout the year
economists polled by said that m 1 would rise anywhere from 700 mln dlrs to three billion dlrs
but he said other countries such as japan and west germany also needed to take greater steps toward reducing their trade surpluses
he omitted the token prepayments in previous announcements but said there was nothing secret about them
tcf banking tcfc files to offer notes
state owned indian railway finance corporations first ever bond issue has been oversubscribed by 35 to 60 billion rupees brokers said
henkel kgaa of dusseldorf west germany said it has completed the acquisition of the process chemicals division of occidental petroleum corps oxy occidental chemical corp subsidiary for undisclosed terms
japans long term banks will soon cut their prime rate now at a record low 55 pct by 02 or 03 percentage point in response to falling secondary market yields on their five year debentures long term bankers said
they will also be listed in luxembourg
it is the intention of both companies that cash quarterly dividends following the combination not decline for either companys stock holders the company said
the company said it received a 25 mln dlrs partial payment in connection with the sale of property in manhattan and an additional one mln dlrs for early termination of the lease for its headquarters which was relocated in february
sharp increases in farm output since 1979 turned china into a net grain exporter for the first time in 1985 and again in 1986
the company said the terminal will handle leaded and unleaded regular gasolines number two fuel oil ethanol and natural gasoline
shr 53 cts vs 38 cts net 22249000 vs 15356000 sales 1891 mln vs 1665 mln nine mths shr 156 dlrs vs 121 dlrs net 64707000 vs 49603000 sales 5592 mln vs 4924 mln
citizens and southern corp csouo 3rd qtr net
a minority group of european community countries strong enough to block the adoption of a tax on vegetable and marine oils and fats is still intact after the ec commission proposed changes to its proposals earlier today british agriculture minister john macgregor told journalists
june 30 end shr 33 cts vs 13 cts net 1687623 vs 636500 revs 187 mln vs 8973143 year shr 96 cts vs 66 cts net 4821637 vs 3309017 revs 588 mln vs 272 mln
matsushita electric trading issues warrant bond
this means traders could quote a two way price for the bonds but would not be bound to trade them
he said the two companies are discussing the possibility of jointly developing a sports car aimed primarily at the us market
products from the new acquisitions and other new product introductions are expected to enable it to return to profitability it said
but prime minister felipe gonzalez insists that the state is doing as much as it can
as a result he said thailand could fail to fill some 3000 tonnes of its 19000 tonne tin export quota allocated by the association of tin producing countries atpc for the year ending february 1988
the banks lending last year consisted of 63 loans totaling 304 billion dlrs bringing the agencys cumulative lending to 3544 billion dlrs
under the proposal arkla will support ips plan to build the alternate pipelines while ip will allow arklas pipeline division to deliver an equal quantity of competitively priced supplies to other ip facilities
the company said it paid a total of about 363 mln dlrs to producers through februry one out of its 550 mln dlr reserve to settle the take or pay disputes
in late september bank of new york offered 80 dlrs per share in cash for 474 pct of irving
i expect other oil exporters have learned their lessons and discipline will be maintained he 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
should the ec ban zimbabwean exports the country will be forced to sell its beef on glutted world beef markets at low prices the source said
included in the writeoffs were six mln dlrs in developmental costs six mln dlrs in unamortized loan costs and debt discounts and four mln dlrs in other non recurring costs
the acquisition is subject to approval of the federal reserve board
physio technology phyt sees loss in default
construction and civil engineering boosted by a rise in public works also improved while retail trade sales in all sectors continued to slow
midway can redeem the rights at two cts each at any time prior to expieration of 10 days after the acquisition by any person of 20 pct or more of the companyts common it said
keycorp said it has signed a definitive agreement to acquire commercial security bancorp csec by exchanging keycorp common valued at 63 dlrs for each commercial securities share
conable said the world bank was expanding its structural adjustment loans designed to encourage developing countries to open their economies more to free competition and trade
the seven year notes were priced at 99473 with an eight pct coupon to yield 810 pct or 71 points over treasuries
these are the heaviest contract talks in the history of the st lawrence seaway george miller vice president of the canadian lake carriers association an association of major canadian shipping companies said recently
carolco crc may bid for lieberman lmano 
it would also increase the gross national products of both countries
chevron chv cuts unc unc stake to 84 pct
the new cd have maturities of six months and one and two years and bear interest rates ranging from 39 pct to 515 pct
it said it acquired guard service companies csc security gaurd service of paramus nj from cartel security consultants inc the guard services division of security services of america of wayne nj capital investigations and protective agency of hackensack nj and meyer detective agency inc of national park nj the company said it bought alarm service operations certified security services inc of key west fla custom security services of myrtle beach sc a t e security group inc of houston and the louisville kent and nashville tenn offices of wells fargo alarm services
he said the ec strongly backed chinas application but others among gatts 92 contracting parties took a tougher line
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
india gets 140 mln dlr world bank loan
the bond will be priced at 99515 to yield 7585 pct
c and w had earlier rejected a reported proposal which would have given it a five pct share in the new telecommunications firm compared to the less than three pct stake watanabe originally proposed
with stringent import regulations and the government increasingly short of foreign currency black market dollars are used to finance smuggled imports from neighbouring countries mainly egypt kenya ethiopia and zaire
another move herrington said he will press anew even though it had been rejected earlier by the white house is to raise the fill rate for the strategic petroleum reserve to 100000 barrels a day from its planned 1988 rate of 35000
ncr ncr sees good chance for record year net
it is guaranteed by standard elektrik lorenz ag
north american nahl sees record fourth qtr
terms were not disclosed
unemployment is currently at 82 pct of the workforce
meridian energy inc and castone development corp a privately held company jointly announced that they have decided to terminate the letter of intent under which meridian would have acquired castone
the ec commission this month announced its draft proposal on farm trade reform expected to be tabled at gatt formally next week
talyzin said national income the nearest soviet equivalent to gross national product is planned to rise by 43 pct against a planned 41 pct this year
meanwhile ecomomic releases are unlikely to enliven the us market unless they deviate widely from expectations economists said
we want the basis of quotas to reflect availability and to encourage stock holding as an alternative to a buffer stock if supplies are needed at a later stage one delegate said
national convenience stores inc said it expects to report a loss for the third quarter ending march 31 due to continued poor sales in texas especially in houston
financial ministers and central bankers of leading industrial nations reconvened here this afternoon
the company said shareholder approval is required for an increase in authorized shares of common stock to 100 mln from 25 mln
it said shareholders will vote at the april 23 annual meeting to increase authorized shares to 25 mln from 10 mln
this would be the case if west germany were to implement a ban on the sale of leaded regular petrol
iraqi warplanes also struck irans offshore oilfields at nowruz cyrus and ardeshir in northern gulf some 80 km 50 miles west of kharg island todays communique said
last december daiwa and nomura were named primary dealers by the federal reserve along with lf rothschild unterberg towbin inc and security pacific national bank
thai trade deficit widens in february
qintex will also acquire another 24 mln roach treasury shares at seven dlrs a share 12 months after closng for another 168 mln dlrs hrs said
american electric aep unit redeeming bonds
their comments echoed those of british chancellor of the exchequer nigel lawson who met funaro yesterday
the company established here in 1981 undertook to hold gold on deposit for investors
the association said that the request would cover exports to all destinations adding that the soviet union which has important maize needs is currently excluded from the list of destination countries for the 500000 tonnes of french maize
it said the approval overcomes the last potential federal hurdle to converting midland to a combined cycle natural gas fired cogeneration plant
two people were missing and six injured after tanks containing thousands of cubic metres of fuel burst into flames today at a shell storage unit in lyon rescue workers said
the ruling is the result of trade action launched in 1985 by the ontario corn producers association that contended us subsidies were driving american corn prices below canadian production costs
our willingness to participate in this multilateral short term financing indicates our support for argentinas economic program to achieve sustainable growth and a viable balance of payments position the treassury statement said
the underlying rise is adjusted for factors such as back pay and timing variations
the april 9 committee meeting is expected to review the agreement by six industrialized nations in paris last month that newly industrialized countries such as south korea and taiwan should allow their currencies to increase in value
auctions will not start until after the opening of export registrations
high on the agenda will be banks complaints about brazils accompanying freeze on some 15 billion dlrs of short term trade and interbank lines the bankers said
redstones previous offer had been valued at 32 billion dlrs
exotic newcastle disease in md new york usda
within this the public sector borrowing requirement showed a repayment of 380 mln stg after a 37 billion stg repayment in january while the non bank private sectors holdings of government debt fell by about 260 mln stg after a 11 billion stg fall in january
robert lougee director of corporate communications for rhode island based fleet told the company is exploring the possiblity of seeking a change in the national trigger date for the states reciprocal bank law to jan 1 1988 from july one
opec is scheduled to meet in vienna on june 25 where it will review its current oil price and production policy
were not in this for the money he said
centel cnt completes sale
kay said the firm has annual sales of about 15 mln dlrs
becor said it has also received expressions of interest from other parties seeking information about becor
crushings of rapeseed sunseed and soybeans will probably rise from last year due to bumper ec crops
the asian dollar market continued to expand in december with total assets and liabilities rising to 20060 billion us dlrs from 18854 billion in november and 15537 billion in december 1985 the monetary authority of singapore said
we are determined to stand firm and will certainly win the united states disclosed last week it was beefing up its gulf fleet from seven to 10 warships and also sending the refurbished battleship missouri to patrol just outside the strategic strait of hormuz entrance to the gulf
kuwait had earlier declined an offer of us naval escorts as too public an admission of its need for protection they said
italy stance on ec oils tax not encouraging asa
english denied the allegations
the partnership said its dealings in erc stock are for investment purposes and it has no intention of seeking control of the company
albertsons inc said its board has adopted a stockholder rights plan intended to protect them in the event of any proposed takeover of the company
the warrants are exerciseable over the next three years at 1950 dlrs per share of common stock according to exovir
argyll sells subsidiarys assets for 14 mln stg
the issue is guaranteed by sumitomo bank ltd and is available in denominations of 5000 dlrs
weston earned 492000 dlrs in last years first quarter
major trading houses which see their profits evaporating in the heat of increased competition in merchandise trade all have foreign businesses on their shopping lists
goldman sachs and co acting as lead manager said it is offering 100 mln dlrs of deposit notes due 1992 that it purchased from bank of virginia co a unit of signet banking corp
the italian treasury said it would offer 3500 billion lire of short term treasury bills bots at rates slightly lower than the preceding offer in mid february
but in a report last month the us embassy said the government appeared divided over how far to take its reforms
federal realty investment trust frt in payout
donaldson bramham lee an investor from birmingham alabama said he raised his stake in penobscot shoe co to 40500 shares or 66 pct of the total outstanding common stock from 33500 shares or 55 pct
shr loss 15 cts vs nil net loss 4356285 vs profit 300000 year shr loss 12 cts vs profit five cts net loss 2744826 vs profit 2490262 note 1985 earnings restated for discontinued operations per share results reflect payment of preferred dividends company did not release revenues
northern trust ntrs to increase prime rate
countries dont get very serious about negotiating until the end of the day which is maybe five or six years in the future he also said he did not consider the new us congress as protectionist as it was 18 months ago
a report from rotterdam quoted industry sources there saying dutch cocoa processors also are unhappy with the intermittent buffer stock buying activities
minister predicts one pct inflation for singapore
one businessman said too many politicians give the impression that malaysia was unstable
once the government affects values once an import quota or license has value its going to be subverted by government he added
uk base rates now running at 10 pct are still relatively high compared to other western countries and analysts said a further base rate cut to 9 1 2 pct was unlikely to affect sterling
supercomputers made by fairchild and other us manufacturers are widely used throughout the world but none have been sold to the japanese government or to japanese government run agencies and universities
positive outlook tempered in us debt futures
barker trust said they bought the stock for two mln dlrs soley for investment purposes
dealers said it was significant the west german and british central banks were supporting the dollar against the yen
faced with competing demands for increased military and police spending and the pressing need for more funds for black housing and education finance minister barend du plessis is expected to raise significantly the governments overall expenditure targets when he presents the budget to parliament the analysts said
rozich said he is looking for the june bond contract to ease to 99 6 32 and find support
as part of the agreement pacific securities has agreed to place proceeds of the sale of the new securities on deposit at westpac and earnings from the deposit will be used to subsidise the payment of the additional interest to investors
a sharp fall in share prices in the early 1980s prompted investors to hold on to shares hoping for an eventual recovery
the rights are exercisable ten days after a person or group acquires 20 pct or more of alberstons common stock or announces a tender offer for 30 pct or more of the stock
it questioned the long term srategic value as well as a high price of about two billion dlrs
talks have focused on administrative matters and verification of stocks in producer countries they said
the argentine grain board adjusted minimum export prices of grain and oilseed products in dlrs per tonne fob previous in brackets as follows maize 71 72 grain sorghum 65 66 roasted groundnutseed according to grain size 510 520 400 410 375 385 355 365 soybean pellets for shipments through may 164 162 and june onwards 161 159
holiday rambler which manufactures recreational vehicles was acquired by harley davidson in december 1986
a psd majority would also open the way for more wide ranging reforms such as relaxation of labour laws and possible denationalisation of industry the analysts said
danforth aide austin schlick said the bill was similar to a provision included in a house agriculture committee passed emergency disaster assistance bill scheduled to be taken up by the house tomorrow
the bank of america certificates were issued by california credit card trust a which the bank established for that single purpose investment bankers pointed out
the australian government is awaiting the outcome of trade talks between the us and japan with interest and concern industry minister john button said in canberra last friday
the euroyen bonds once issued are mostly picked up by japanese trust banks one trader said
the non callable bonds will be issued in denominations of 1000 and 10000 dlrs and will be listed in luxembourg
japan october december gnp rises 08 pct
federal reserve board vice chairman manuel johnson cautioned against seeking quick fix solutions to persistent us trade and federal budget deficits
santos said it had a successful gas exploration program finding 172 billion cubic feet in south australia but oil exploration was less successful with 162 mln barrels added to reserves less than depletion during the year
the world bank last month granted indonesia a 300 mln dlr trade adjustment loan
while gas supplies may tighten in certain consuming areas notably in california and in the northeast us an overall shortfall appeared remote
us bank discount borrowings 361 mln dlrs
such policies are much more likely to hurt rather than help the productive capabilities of the us economy it said
almi group lp said its co chairmen michael landes and albert schwartz and its vice chairman michael spiegler have acquired a 50 pct equity interest in clearview baking corp for undisclosed terms
zenex oil pty ltd said it acquired the interests of esso south africa the local subsidiary of exxon corp ltxon and will use up to 20 mln rand in profits to finance educational and social programs
japans only current financial futures market in yen bonds began on the tokyo stock exchange in october 1985
livingwell inc well year
completions of new homes fell 02 pct in january to a seasonally adjusted rate of 1884 mln units from 1888 mln in december the commerce department said
rates have risen steadily for vessels loading next month
net borrowings averaged 425 mln dlrs in the first week of the period
twa twa declines comment on usair u 
but the newspaper added that it was still not possible to say how far the move to abolish foreign securities purchase deposits had affected italys balance of payments
the bank of england said it had provided the money market with 1143 billion mln stg assistance in response to an early round of bill offers from the discount houses
as crude production also fell there is likely to have also been a decline in non reported stocks particularly at sea the iea said
he told proposals to reduce brazils quota to 25 pct of the world share from 30 pct at present were unacceptable as the country has large stocks and a good harvest is expected
in return the south koreans gave a verbal assurance to buy indian goods worth 10 pct of the contract against the 25 pct sought by new delhi the trade official said
luxembourgs economy by contrast will see slightly faster growth in gdp this year as a result of an upward movement in wages
ugandas coffee marketing board cmb has stopped offering coffee on the international market because it is unhappy with current prices coffee trade sources said
meantime the executive board will meet may 12 to discuss possible action on the consultancy report on the ico presented today to the board consumer delegates said
under a separate agreement affiliated said that certain members of billboards management plan to buy up to 10 pct of the equity in billboard following affiliateds acquisition of the company
the consumers group is now holding a separate meeting ahead of further consultations within the presidents group tonight
the ministry of international trade and industry will ask japanese computer microchip makers to further slash output in the second quarter in an effort to save its semiconductor pact with the united states miti officials said
in the note to its 1986 financial statement american century said it considered the five mln dlrs collectible making its loan loss provision less than required
shr 27 cts vs 22 cts net 1866000 vs 1476000 revs 330 mln vs 303 mln nine mths shr 71 cts vs 57 cts net 4828000 vs 3857000 revs 920 mln vs 890 mln
burmah oil profit climbs to 1059 mln stg
texas commerce tcb sees improvement in 1987
herrhausen said he did not expect interest rates to rise in west germany this year but there was little room for further falls
moodys said its review of borg warner and the unit borg warner acceptance corp would focus on the effects of the proposed acquisition on borg warners cash flow and debt protection measurements
the newspaper said baldrige and weinberger are expected to bring the takeover issue before a top level interagency policymaking group such as treasury secretary james bakers economic policy council or the presidents national security council
he said there had been no reply yet from nmic and the talks were only just initial nmic president arthur aguilar and other company officials were not available for comment
recent very wet weather has already caused some isolated incidences of pod rot but reports from the growing regions say these are not yet significant
the new company barclays de zoete wedd nederland nv will focus on trading in both dutch and international equities and will develop a full range of investment banking services
the operator of a major us crude oil pipeline shutdown because of flood damage said it may be several days before repairs are made and the system is functioning again
anticipated improved cash flows will allow the company to invest and acquire much more aggressively than it has in the past few years weyerhaeuser also said
the bank has increased these loans in part because of the debt crisis that has found countries desperately in need of new funds for balance of payments adjustment and economic reforms aimed at opening their markets encouraging foreign investment and reducing governments role in the economy
us treasury selling 95 billion dlrs of one year bills march 12 to raise 275 mln dlrs
news on october 9 that the government was planning a 10 pct withholding tax wiped billions of marks off shares and bonds in a market already reeling from rising interest rates at home and abroad
lawson said he planned two reliefs on petroleum revenue tax prt as from today companies may elect to have up to 10 pct of the costs of developing certain new fields set against their prt liabilities in existing fields until the income of those new fields exceeds the costs incurred
the halt the first national strike by seamen in 25 years started on february 27 and union leaders said they would not return to work unless they received a 275 pct pay rise
canadian foreign reserve holdings rose 123 billion us dlrs in march to 777 billion dlrs the finance department said
as part of the effort to reduce the trade deficit the us has been pressing west germany and japan to stimulate their domestic demand for goods from the us and others
there is still potential for even higher average wheat yields but the iwc said there are increasing signs world output may level off
usair group inc said it entered into a credit agreement with a group of commercial banks to provide on a secured basis up to two billion dlrs to finance its pending acquisitions of piedmont aviation inc pie and pacific southwest airlines
shr profit 20 cts vs loss two cts net profit 2665000 vs loss 202000 revs 121 mln vs 5993000 year shr profit 35 cts vs loss 11 cts net profit 4653000 vs loss 1167000 revs 351 mln vs 180 mln note current qtr includes gain of 11 mln dlrs from tax benefit
terms were not disclosed
ecuador had enough oil to meet domestic demand for about 35 days and would have to import crude to supplement stocks
chronar corp said it received a total of 20 mln dlrs through the completion of a private placement of its stock long term debt and associated warrants with the sheet metal workers national pension fund and an affiliate of harbert corp it also said the fund and harbert solar inc the affiliate now own about 16 pct of chronars common
reagan vetoed a similar measure last year
on april one it began consolidating sales marketing and manufacturing operations
first national bank of boston bkb raises prime
asarco ar offers 35 mln shares common stock
they havent even come up with a plan yet preston said after morgans annual meeting in new york today
president samuel huntington told the analysts the construction spending projection is based on the expectation that demand for electricity in the new england electric system will grow about two pct a year for the next 15 years
the price move follows a wave of increases initiated by sun co yesterday
the source who declined to be identified said iran had fired the chinese made missile at a hulk off its southern gulf naval port of bandar abbas and scored a hit
conagra inc cag regular dividend set
magazines also performed strongly
the white house said the rise in interest rates was unfortunate in a general sense but reflected market forces
according to the companies the acquisition is contingent upon the approval of libertys shareholders and the appropriate regulatory authorities
the company today reported earnings for the nine months ended march one of 7214900 dlrs down from 7752800 dlrs a year before
period ended february 28 shr 40 cts vs 15 cts net 1747000 vs 775000 revs 132 mln vs 133 mln avg shrs 4321376 vs 5148318 year shr 67 cts vs 67 cts net 3300000 vs 3299000 revs 495 mln vs 502 mln avg shrs 4895788 vs 4951177 note 1986 year after 819000 dlr tax provision and 660000 dlr tax credit 1985 year after 559000 dlr credit for anticipated income tax settlement for 1970 and 331000 dlr tax provision
sen
rigaud showed a warehouse stocked with an estimated 445000 unsold 100 pound 45 kg bags of sugar
the comments by miti officials followed a call by prime minsiter yasuhiro nakasone to clear up any misunderstandings on the us side about the pact watanabe said
a specialist unit is authorized by a stock exchange to deal as an agent for other brokers to keep a stable market in one or more particular stocks
he said some streamlining of the lending process may be needed but added i see no alterantive to the present course of responsible cooperation a major theme at the conference however was that the world economy might not continue to cooperate while the debtors and creditors muddle along
callebaut told that amylum a leading starch and isoglucose manufacturer in which britains tate and lyle plc tatll holds a 333 pct stake had made an undisclosed initial takeover offer for cpcs european corn wet milling business by the close of cpcs tender on march 17
reserves were projected to fall at most 150 mln dlrs this year he said
shl systemhouse nms files for public offering
ussr meat and egg production in january rose only slightly from the previous januarys level while milk production increased by nearly six pct
three or four members of the 13 nation organisation of petroleum exporting countries were overproducing in an exaggerated manner above their assigned quotas he said
mexico halted the debt equity program on feb
merrill which will be the dealer for the medium term notes and commercial paper said this was the first facility of its kind
but it said the article was about the ingredient and did not mention the spermicide or the condoms made by inkey
about 300 other creditor banks also are expected to approve the agreement he said
the cereals intervention board onic wheat producers association and the national union of agricultural and cereal cooperatives have not yet forecast 1987 88 exports or end of season stocks
shr 17 cts vs 13 cts net 673000 vs 514000 revs 184 mln vs 172 mln note share adjusted for five for four stock split in january 1987
after travelling to major wheat producing areas and obtaining more information on the planted area the total planted area was estimated down 290000 hectares due to the dry fall it said
ibc registers 14 mln bags of export sales
a strike by brazils 40000 seafarers who want pay rises of up to 180 pct may have cost the state owned oil company petrobras 20 mln dlrs in lost export orders the companys commercial director arthur de carvalho was quoted as saying in press reports
lukman described the disruption in ecuadors output following an earthquake as tragic but refused to say if the south american country would be allowed a higher output quota when it recovered from the disaster
however sharp said that internal accounts showed the company was in profit in the first two months of 1987
talyzin said the ruling politburo had concluded at a recent meeting that an improvement in economic performance depended to a large extent on conserving resources better
particularly for the banks recent developments in international financial markets give rise to the question whether the swiss financial system which has shown substantial flexibility in the past is adapting itself at the speed required to preserve its competitive position it said
long term rates are expected to fall to between 14 and 16 pct
finance minister michael wilson said tax reform will not affect his determination to reign in expenditures but his forecasts show a slowing of the decline in the budget deficit in the late 1980s
companys full name is sun alliance and london insurance plc sunll
msa realty corp sss 4th qtr net
analysts said the remaining players are mostly small firms that will find the competition much harder than in the past
however eurostat said the ec was still beaten by japan where prices were provisionally 01 pct lower in may than a year earlier
he told a news conference here after due consultation with my colleagues in opec i hereby wish to emphasize that nigeria and all member countries of opec remain determined to uphold the december agreement by adhering strictly to their various quotas and official selling prices lukman added no extraordinary opec conference was planned
the paris agreement has so far successfully stabilized currencies with the threat of central bank intervention economists said
lumonics inc year loss
a companion 225 mln dlr offering of 27 year bonds was given a 9 3 4 pct coupon and priced at 99625 to yield 979 pct or 180 basis points over treasuries
in addition to term sales petronas has been offering two to three 400000 bbl spot cargoes of malaysian crude each month for sale through tender the sources said
a spokesman for the confectionery industry association said that west german grindings are expected to stay relatively high in comparison to other west european countries
the stockpile now contains around 10 billion dlrs of materials
texstyrene corp foam 11 mths dec 31 loss
the ministers meanwhile also continued talks on making their policy coordination more binding and one canadian finance minister michael wilson said good progress was made
in london lloyds insurance said the 162046 ton iranian tanker avaj was hit on saturday when iraq reported an earlier gulf attack
the federation of bankers associations of japan released its proposal for early creation of a comprehensive financial futures market in tokyo
qtly div eights cts vs 75 cts prior pay march 31 record march 13
the news eroded the most immediate fears that the stock collapse would spill over into the economy via a banking crisis for example thus precipitating recession
the source said ongpin is unlikely to come to the us to press his case and was expecting the philippines bank advisory committee headed by manufacturers hanover trust co to negotiate the spread reduction by telex
the analysts cited royal dutch shell groups rd sc bid for shell oil co which was sweetened before its successful conclusion
milos milosavljevic also a deputy prime minister said last friday that yugoslavia had repaid 640 mln dlrs of principal and 325 mln dlrs of interest so far in 1987
spains registered unemployment fell by 10465 people to 297 mln or 214 pct of the workforce in march labour ministry figures show
national amusements holds 196 pct of viacoms stock
farmers are now making their planting decisions so something has to be done quickly if a 0 92 program is to be implemented an agriculture department source said
agency head says japan should cut rice price
he also said that to curb inflation salary increases would have to be below the inflation rate
according to continental materials the group said may 11 it might boost its stake in continental materials
once interest on brazils debts becomes more than 90 days overdue us and canadian banks must put the loans on non performing basis and may book payments only as and when they are received instead of accruing the interest in advance
the us agriculture department probably will not offer a two dlr per bushel bonus payment to corn farmers for any erodible cropland they enrolled in the conservation reserve program last year an aide to usda secretary richard lyng said
atari atc to sell convertible debentures
it said industrial has also stated that it intends to pursue a possible business combination in the near future
harcourt brace hbj sets harper hpr deadline
comincos share of production was 43000 short tons of copper contained in concentrate 1200 short tons of molybdenum in concentrate 340000 ounces of silver and 800 ounces of gold he said
yemen
shr 13 cts vs 14 cts net 1329000 vs 1054000 revs 207 mln vs 114 mln avg shrs 10100000 vs 7500000
that left growth for the full year at 31 pct which is down from 1985s four pct increase
dart has said it would offer 4175 dlrs cash for each sgl share if the sgl board recommended the offer to shareholders
nymex will expand off hour trading april one
brazil in february stopped interest payments on about 68 billion dlrs owed to private banks and the ministry statement issued on monday said this would only be lifted when an accord is reached the statement said that a token payment which banks want from the brazil as a condition to discuss an agreement will only be made when there is a major progress in the negotiations meanwhile a world bank mission arrived on monday to analyse the performance of the brazilian economy after the new plan launched in july by finance minister luiz carlos bresser pereira
if they do not accept our conditions now it will be much better for us because with the market prices more or less the same buying from iraq and china is an advantage he said
gasoline and diesel fuel prices were about five pct higher half the 10 pct jump recorded in january
mcadoo raised his 1987 estimate to 750 dlrs a share from five dlrs and maintained a buy recommendation on the stock metz said
to ease its internal debt burden the government has reduced the budgetary support to development investment in about 120 public sector companies to 6992 billion rupees in 1987 88 from 7792 billion a year earlier official figures show
us banks have 50 pct representation on the committee while holding only 35 pct of brazils debt to banks he said adding this is not fair with the european and japanese banks the committee had played a useful role in 1982 and 1983 however
bullish sentiment on the uk economic outlook has been running especially high after last weeks budget seen as popular both with the markets and with british voters
he said at least 12 mln tonnes of the 1987 88 crop would be earmarked for domestic consumption
the state department says many us diplomatic missions overseas are on high alert for possible retaliation from iran for mondays attack on two iranian oil platforms by american forces in the gulf
more than 25 mln british items were hallmarked during the quarter up 111 pct on the same year ago period
the increase brings phillips posted price for the west texas intermediate and west texas sour grades to 1750 dlrs a bbl
with a record trade deficit of 169 billion dlrs last year and a farm economy in the doldrums congress is pressing to hold back us funds for the world bank and other development banks if the money is used to subsidize production or to produce goods already in oversupply around the world
senator lugar calls for cargo preference repeal
reunion 1 2 ports portugal 10000 mt bulk sugar about 20 dlrs 2000 750 1 10 5 a c french charterer
only 20 states and the us virgin islands have eradicated both diseases it noted
in a speech to a european community oapec opec seminar in luxembourg released here al wattari said opec believes the world energy trade should be kept without restrictions and should be built around a fixed average price of 18 dlrs al wattari noted that total opec output was below the organizations agreed ceiling for all member countries in february although this had meant sacrifices
he pointed out brazil took the action because of its deteriorating economic situation
the bank of japan has already purchased more than one billion dlrs in intervention since the opening and continues to buy the us currency dealers said
gardner said hutton stands to gain fees of 10 to 20 mln dlrs from the transaction but sources close to the transaction said fees are at the low end of the scale
but one merchant bank economist said that certain anti tax avoidance measures could damage some sectors of the share market particularly multi national companies
transco said its gas pipeline delivered more than 12 trillion cubic feet last year and its marketing affiliate sold an average of 16 billion cubic feet of gas per day
moodys downgrades zenith electronics ze debt
alleghney said the suit filed in the us district court for the western district of pennsylvania was aimed at blocking the sale of alleghney to an affiliate of first boston inc
he said the march drop in industrial activity is a reasonable response in light of the inordinate contribution inventory accumulation made to gnp economists said the employment data also suggest weak gains in industrial production and personal income for march
the terms of the proposed transaction were not disclosed
ferruzzi announced last week it had agreed in principle to buy the cpc operation for 630 mln dlrs
farmers have switched to cash crops such as sugarcane bananas oranges papaya and freshwater fish farming in part to supply major consumer markets in hong kong and macao the magazine said
schlumberger ltd slb 3rd qtr net
on the demand side the obvious policy is an excise tax on transportation fuels krapels said
machine technology mtec sees 2nd qtr loss
the british government had applied for the release of a further 100000 tonnes in both may and june from british intervention stores to prevent market prices rising
domtar inc said it plans a two for one stock split to take effect may 14
may department stores co said it terminated an agreement with allied stores corp to buy from allied the four dey brothers stores in syracuse ny may and allied said conditions necessary for the closing were not met
he believes economic fundamentals do not justify the bearishness but said that once you start the ball rolling its difficult to stop theres a stark possibility that you could get a destabilizing drop in the dollar that forces up interest rates and drives us into recession
att t sets payout for regular dividend
our priority is development but i insist that there cannot be development if we dont fulfil our obligations he said
earlier today taft broadcasting said taft the companys vice chairman and narragansett had offered 145 dlrs for each of tafts 92 mln outstanding shares
british exports to nigeria were 565 mln stg in 1986 down from 960 mln in 1985 while nigerias exports to britain which do not include oil were 328 mln stg and 647 mln respectively
jorio dauster president of the brazilian coffee institute ibc left brazil early today to attend a weekend meeting of latin american coffee producers in managua an ibc official said
they said miti will also review the breakdown of energy supply sources including oil nuclear coal and natural gas
westpac banking corp in new zealand announced yesterday it would increase its indicator lending rate by 15 percentage points to 225 pct on april 7
i did what i set out to do
citicorp said only that the situation will be reviewed at the end of the current quarter
bank of japan buys dollars around 14575 yen dealers
this operation will reinforce bulls capital and reduce the states stake prior to privatisation the ministry said in a press release
investment firm has 71 pct of cyclops ltcyllt 
killearn properties inc kpi 3rd qtr net
southern co said it will take an after tax charge of 226 mln dlrs against earnings no later than january 1988 because the projected cost of the vogtle nuclear power plant has risen abover the amount which retail customers in georgia will be asked to pay
allegheny said the agreement calls for holders of its common to receive 2460 dlrs a share
the department also lowered the terminal price of hard red spring wheat at minneapolis and duluth by 32 cents he said
the statement also said that the prospects of the least developed countries continue to deteriorate and will improve only if commensurate financing on concessional terms is made available
the group said its most recent purchases included 106000 shares bought march 10 31 in ordinary brokerage transactions
the study said a secondary market could be established with virtually no federal money if the government provided a guarantee of 90 pct of the farm loans but a private co insurance plan guaranteed the first 10 pct of any losses
earlier today london traders had expected the subsidy for the current season whites campaign for licences to end sep to be around 4680 ecus per 100 kilos while french traders had put the rebate at around 4640 ecus
lifestyle restaurants lif adjusts revenues
it said princeville had previously held talks with a financial institution on obtaining a letter of credit but was unable to reach mutually acceptable terms
shr 471p vs 377 shr fully diluted 422p vs 336 div 11p vs 7 making 16 vs 10 turnover 183 billion stg vs 176 billion pretax profit 1153 mln vs 813 mln tax 305 mln vs 162 mln retail profit b and q 455 mln vs 331 mln comet 174 mln vs 119 mln woolworth 387 mln vs 176 mln other 46 mln loss vs 600000 loss property income 494 mln vs 480 mln net interest payable 311 mln vs 287 mln extraordinary debit 160 mln vs 291 mln
under the foreign exchange auction system introduced in 1985 zccms profits from its foreign exchange earnings rose as the value of the kwacha fell to 21 to the dollar from just over two to the dollar
he said reagan last year rejected the idea and he added in my personal view he is not likely to change his thinking on that he said reagan last year opposed the idea because the energy industry was divided on the issue a tax would require a new bureacracy to administer and the resulting higher energy prices would harm us competitiveness
iraqi president saddam hussein carried out his first major government shakeup in five years tonight naming a new oil minister in shuffling three posts
currency dealers have speculated that japan and west germany might come under pressure at next weeks venice summit to cut interest rates to boost their economies
alternatives to the sale being considered include a master limited partnership and an initial public offering of the equity in the land development companies it said
the partnership which includes wagner and brown of midland texas and irvine calif based afg industries inc last week dropped its 100 dlr a share hostile tender offer
wendys is currently embroiled in litigation brought by pepsi which holds a contract with the company analysts said
the growing popularity of the scheme was underlined this week when american express bank which has joined the new mexican package said it plans to convert 100 mln dlrs of its own loans into an equity stake in hotel projects in mexico
royal gold inc said it has signed two agreements in principle to acquire the stock of two transwestern mining co units for 11 mln shares of royal gold common stock
hanson trust to sell us chemicals unit
the banks will not rush to raise their prime rates
pacific gas said unit 2 generated power about 937 pct of the time during its first year of operation
the united states raised its contribution to 190 mln dlrs from 86 mln and the netherlands raised its figure to 232 mln guilders from 180 mln
continental grain co of new york received three shipments totalling 143000 tonnes price ranging from 9095 to 9575 us dlrs per tonne c and f taiwan for delivery between may 10 and october 10
1985 net includes pretax charge 1200000 dlrs in quarter and gain 1400000 dlrs in year from restructuring and consolidation
the offer which is being made by a wholly owned subsidiary revmac acquisition corp is subject to financing and at least 285 mln shares being tendered the company said
acmex said in a statement it would offer one share for every two cheetham shares or 340 dlrs cash for each share
the company said the study found proven ore reserves of 3302000 short tons grading 0077 ounce of gold per ton
british telecom cautious on earnings prospects
depending on the maturity of the various debts banks will receive on july 15 repayments representing three pct of the arrears and the overdue debt covered by the standstill
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
the officials looking beneath the rhetoric of statements by the group of five g 5 industrial nations told the currency movements of the past two years are also creating a fundamentally new world trade picture which is throwing up new trade tensions and imbalances
it said oil companies should absorb part of the tax rise internally and not pass it on to consumers as compensation for a reduction in the stocks that the industry is required to keep for swedens national petroleum reserve
moodys said its review would focus on home shoppings future capital structure and examine the added risk associated with the companys commitment to diversify its product line to include financial services
currently reagan can reject trade sanctions on any grounds
a spokesman said the two pct stock dividend normally issued everly year was not issued in february because the company was examining other dividend alternatives
shr 132 dlrs vs 159 dlrs net 1217649 vs 1471824 total income 1896018 vs 2278642 nine mths shr 492 dlrs vs 538 dlrs net 4553380 vs 4979626 total income 6918266 vs 8134313
exports to western europe eased 35 pct and far east exports due to an economic revival in japan dropped 52 pct
closing is expected march 17 it said
the united states and japan will soon settle their trade dispute over semiconductors us commerce secretary malcolm baldrige said on television
essex chemical corp esx regular dividend
theres a realisation now that you cannot leave things alone everyone agrees that the external trade imbalances ought to be adjusted one official said
saudi arabia still the worlds largest oil exporter is a hugely wealthy country
in a registration statement filed with the securities and exchange commission gould said the shares will be convertible at any time into gould common
although there had been speculation that the standstill would be extended for three years many did not believe that a long term pact would be acceptable to us banks
the corporation was shut down last april when congress refused to continue funding its eight billion dlr budget because of uneconomic projects based on forecasts of 50 dlrs a barrel oil and 10 dlr per mcf natural gas during this decade
the 1988 agriculture budget will have to be cut by an additional one to two billion dlrs the chairman of a key house agriculture subcommittee said
national security insurance co nsic 4th qtr
because of uncertainty about exchange rate developments and economic weakness other factors should be taken into account
however he said that both problems were cleared up during both afternoons and there was no evidence of any reserve impact
science accessories corp seas 1st qtr net
initially a portion of the proceeds will be used to reduce funds drawn from miniscribes revolving bank credit facility
the uk last year showed a trade defict with japan of 37 billion stg official figures show
government economists forecast that the external current account deficit will fall to 19 billion crowns this year
terms were not disclosed
calls for a cut in austrian interest rates have grown in recent days but bank chiefs are divided over the issue
all taiwans foreign exchange earnings must be converted into local dollars boosting money supply at a time of booming exports
payment date has been brought forward to march 27 from march 30 and the bonds will mature on march 27 2002
mwape said told businessmen the question which should be asked and answered when designing programmes is who is going to bear the brunt of adjustment and what cushion is available to minimise the burden zambia has had five imf adjustment programmes since 1976 the last of which was cancelled in february last year he said
the us agriculture department detailed world supply demand data for major importers and exporters of coarse grains by country as follows in mln tonnes ussr coarse grain 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks na na na na production 10330 10330 9999 9999 imports 1200 1000 1370 1370 domes use 11230 11230 11199 11199 exports nil nil nil nil end stocks na na na na na not available
a morgan switzerland official said that on the basis of the maturity of four years and three months the pricing involved an implicit volatility of gold of 245 pct before the warrants were in the money compared with implicit volatility of 30 pct for the indosuez gold warrants and 26 pct for the citibank gold warrants recent issued with maturities of 18 and 24 months
ibc president leaves for producer meeting ibc
we expect this will be allowed in two or three years he said
after the two sales equities will amount to 50 pct or more of the portfolio zuckerman said
average lives for two floating rate classes are 236 and 1127 years for maturities of 2011 and 2016
ohio mattress omt buys sealy of michigan
dealers said spreads would widen and the dollar would move more sharply if the bundesbank did intervene
total still expects 15 billion franc 1986 loss
he said dutch money supply growth which ran at 34 pct in january could also contribute to some inflation
belgium to issue 150 billion franc state loan
qtly div 12 cts vs 10 cts previously pay may 11 record april 10
vangarlem said he will definitely not extend the 1987 crop program signup saying he sees no reason to do so at this time
i have nothing in my briefcase except an explanation of the current situation kuroda told the daily newspaper asahi shimbun
earlier venezuelan energy and mines minister aturo hernandez grisanti said his country would supply an unspecified part of ecuadors export commitments
the indian state trading corporation stc bought 20000 tonnes of optional origin soybean oil and 6000 tonnes of rbd palm olein at its import tender yesterday traders said
and it includes provisions to tighten trade rules on copyrights patents and telecommunications goods
he said the present trade surplus was vital if his nation was to reduce its 445 billion dlr foreign debt
cathay pacific airways ltd caphhk year 1986
but it said there are no plans to merge gulfstream and electrospace
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
but squibbs investment in cetus is the first it has made in biotechnology
moodys may upgrade upjohn upj debt ratings
bush industries inc said that after an audit it has revised upwards its 1986 fourth quarter and year end results
pnb later foreclosed on deltas assets
it said the deal would involve 13 starch factories employing about 5000 people in eight european community countries plus facilities and commercial operations in other ec states
given a strong guilder a further fall in the west german repo rate would trigger a lower special advances tariff forcing an official dutch rate cut analysts said
most bank managements appear committed to improving the quality of their balance sheets s and p said noting many now emphasize long term strategies over short term earnings
the merger will bring suburbans assets to 661 mln dlrs and its total banks to 13
along with beef the us will also press japan to eliminate import quotas on fresh oranges and orange juice by april 1988
the increase in common shares would cover among other things the exercise of triangle industries incs tri and drexel burnham lambert incs warrants issued in relation to averys 710 mln dlr acquisition of uniroyal chemical late last year
national business loan data are scheduled to be released on friday
bow valley industries ltd said it agreed to sell its wholly owned norwegian subsidiary to elf aquitaine norge a s of stavanger norway for 13 mln canadian dlrs
top discount rate at uk bill tender falls to 93657 pct
transco energy co said on april 10 it will redeem all 707905 outstanding shares of its 3875 dlr series cumulative convertible preferred stock at 5117 dlrs per share plus accrued dividends of 74 cts
manhattan supreme court justice lewis grossman today adjourned until monday a hearing on a stockholder suit seeking to block the hutton lbo transaction
in the near term there is absolutely no reason for the fed to ease policy even apart from the slowdown in money growth said stephen slifer economist at lehman government securities inc
triton said royal dutch shell groups rd sc shell canada ltd shc affiliate retains a convertible overriding interest in the well
commerce secretary malcolm baldrige has asked the white house to consider blocking the planned japanese acquisition of a major us computer and semiconductor maker us officials said yesterday
but it will quickly become apparent that colombia does not intend to go over the top arango said in an interview
conagra inc 3rd qtr shr 36 cts vs 31 cts
us bank net free reserves 603 mln dlrs in two weeks to march 25 fed says
banco di sicilia international issues eurobond
rlr financial services inc said the national association of securities dealers has decided not to delist its stock from nasdaq on march 12 as it had threatened
we very much have the example of the us thrifts in mind said a spokesman for abbey national building society explaining why his institution for the time being is only offering variable rate mortgages
last weeks dollar fall was partly triggered by expectations that the germans were more worried about the money supply impact of such intervention than maintaining currency stability
japan central bank intervenes in tokyo afternoon
canada plans to monitor steel shipments flowing in and out of the country in an attempt to appease concerns in the us over the high level of canadian steel exports trade minister pat carney said
equatorial said it has signed a memorandum of understanding for contel corp ctc to purchase 10 mln dlrs of equatorial master earth stations micro earth stations and associated equipment and loan equatorial six mln dlrs over a six month period for repayment starting in december 1988
aristech also said it will expand bisphenol a and phenol production at its haverhill ohio plant
shr 14 cts vs 22 cts net 188000 vs 307000 sales 146 mln vs 121 mln year shr 44 cts vs 63 cts net 600000 vs 852000 sales 510 mln vs 457 mln
the executives o
lawsons remarks came as renewed selling on the london stock market took bp shares down a further 33p to 283 well below the 330p price set for the around seven billion stg issue
neyra stressed peru was not withdrawing from the world bank
the bank said it reported a profit of more than 20 mln dlrs on the transaction involving 390 mln dlrs of fnma securities including the arbitrage gain
the new debt standstill will extend from july 1 1987 to june 30 1990 with a three pct down payment permitted on july 15 1987 provided such debt has already reached maturity du plessis said
bids amounted to 19115 tonnes against offerings of 31528
average price was 98307
there was also speculation that icahn would like to buy usair and then sell twa as a merged company
fed chairman paul volcker told a congressional committee last thursday that the feds policy has been unchanged up to today although volckers statement last thursday allayed most fears that the fed had marginally tightened its grip on reserves to help an ailing dollar many economists still wanted confirmation of a steady policy in todays data which covered the two week bank statement period ended yesterday
a 100 mln dlr offering of first priority secured equipment certificates due 1992 was given a 10 pct coupon and par pricing
fees for the issue include a 1 1 4 pct selling concession and a 3 4 pct combined management and underwriting fee
uk money market given further 168 mln stg help
snyder oil partners lp said it acquired 12 mln shares or 12 pct of cenergy corp
as we have said repeatedly only american flag vessels are under our protection with the exception on a limited case by case basis of ships carrying our foreign military sales equipment to friendly non belligerent states in the region sims said
chancellor of the exchequer nigel lawson presenting his budget for fiscal 1987 88 to parliament said uk economic growth was forecast at three pct in calendar 1987
he said ciba visions sales have grown an average of more than 200 pct a year since 1981 the year after the group was formed
for some time fundamentals have led the market to push for a one point cut in base lending rates to 10 pct but the central bank has declined to follow wholesale money market rates down
the acquisition is part of mannesmanns efforts to diversify into high technology areas and away from its previous reliance on steel and pipe making
this would spark a trade war he said
the new york times co said it had an agreement to buy the gwinnett daily news an evening newspaper published in lawrenceville ga terms were not disclosed
they said the bonds would carry warrants issued by its efibanca subsidiary and convertible into bnl saving shares within five years
the 20 year loan supports a project aimed at improving the efficiency of medium scale fertilizer plants through technical renovations and energy conservation the bank said
the broadcast operations have been hit with layoffs and other belt tightening measures
this outburst came after amato warned that companies might start disobeying government regulations on price controls
shr 73 cts vs 60 cts net 46 mln vs 38 mln revs 1128 mln vs 1041 mln note1987 includes lifo charge of 15 mln dlrs pension expenses declined by 879000 dlrs due to change in accounting interest decreased by 382000 dlrs
quaker chemical corp qchm sets quarterly
porta systems corp psi 4th qtr jan 31 net
the bill which was defeated by the senate agriculture committee on monday could have cost about 60 mln dlrs a year in lost exports the philippine coconut authority pca said
study says oil price fall spurs bankruptcies
local currency m3 rose 06 pct to 28211 billion dlrs from january and 168 pct on the year
uk intervention board details ec sugar sales
1985 sales exclude contract revenues of 3217000 dlrs
us sugar imports down in latest week usda
in the full year 1986 imports rose 306 billion dlrs or nine pct to 3695 billion dlrs
unofficial strike hits rotterdam grain sector
if it fails to satisfy the british government it will be up to the japanese government to explain its position he said
the won has gained 51 pct since the beginning of 1986
miyazawa says current dollar yen rate not necessarily satisfactory
prime minister brian mulroneys government appears to want to avoid a dome sale to a foreign company since the government gave dome hundreds of millions of dollars in tax breaks to encourage oil and gas exploration in the arctic analysts and officials have said
cooperation between poehl and stoltenberg is all the more remarkable as poehl is in the opposition social democrats and was appointed by former chancellor helmut schmidt
european currency markets reacted quietly to the g 7 communique with comments from bankers and dealers ranging from disappointment that it was not more concrete to surprise that the markets should have expected so much
the rate has been increased nine times since the start of the year when it was below 12 pct
it will be available throughout most of western europe within four months
treasurys baker says us remains prepared to foster exchange rate stability
qtly div 21 cts vs 21 cts prior pay june 10 record may eight
its total output was around 260000 bpd
conable added that cooperation between the bank and its sister agency the international monetary fund was good and that he talked often with imf managing director michel camdessus on a variety of issues
we received exactly the same kind of assurances in the softwood lumber case that was totally fumbled and bumbled axworthy said
chigaga told in an interview it was not true that western states had threatened to withold financial aid following zambias abandonement of a tough imf inspired program that included the auctioning of the local kwacha
the latest weekly hughes tool co ht rig count a barometer of the oil industrys health showed 761 us rigs active in what is traditionally the slowest time of the year
fees of 01 pct comprise two basis points for management and underwriting and eight points for selling
philippines says debt pact better than mexicos 
florida citrus processors association said frozen concentrate orange juice movement into trade channels in the week ended march 7 totalled 3915370 gallons versus 3956126 gallons in the week ended february 28 and 4284693 gallons in the corresponding year ago period
this legislation requires a futures market to become a recognised investment exchange rie for trading to continue
the us has been seeking japans technological support
allegheny power system inc ayp sets payout
allied supermarkets asu files for offering 
the companies said the suit asks a jacksonville fla federal district court to enjoin the enforcement of an interpretive rule adopted by the fhlbb last year which seeks to give it jurisdiction over barnetts proposed acquisition of home
kenya debt servicing to absorb most aid moi
shr 14 cts vs nine cts net 1180000 vs 640000 revs 256 mln vs 201 mln six mths shr 26 cts vs 12 cts net 2103000 vs 853000 revs 448 mln vs 330 mln
fekete said the rates would come into effect tomorrow
the utility said these totals exclude spending on new england hydro transmission being built to import electricity from quebec hydro
the venture called mi tech steel inc will be set up to serve japanese and domestic automobile and appliance parts makers in the us a plant will be located near murfreesboro tenn and production is expected to begin in the fall 1987 the company said
taft tfb bidders would sell entertainment unit
sears roebuck and co s posted a 49 pct increase
co lead managers are new japan securities wako securities and yasuda trust
gulf states utilities co said auditor coopers and lybrand has issued a qualified opinion on 1986 financial statements
the call by us deputy trade representative michael smith at a special committee meeting into the future of gatt follows a series of bilateral trade rows which have clouded efforts by the 93 nation body to promote fair trade
oper net for 1986 year also includes profit from discontinued operations of 360000 dlrs or five cts a share
funaro envisaged that any eventual solution to problems with brazils 108 billion dlr foreign debt would involve only partial servicing of the debt
new zealands consumer price index cpi which measures the rate of inflation rose 23 pct in the quarter ended march 31 against an 89 pct rise in the december 1986 quarter and a 23 pct rise in the march 1986 quarter the statistics department said
dudley taft and his family have owned 12 pct of the company
the committee however will only include revenue numbers in its proposed budget with the actual revenue decisions left to the house and senate tax writing committees
sterling m3 up 2 1 4 pct in february m0 down
taiwan to tender for 450000 tonnes us corn
we dont want that
the bundesbanks reduction of the key allocation rate to 380 from 385 pct was heralded monday by repeated injections of money market liquidity at between 370 and 380 pct
total fees of 2 1 4 pct comprise 1 1 2 pct for selling and 3 4 pct for management and underwriting
dart said likely supermarkets general suitor
the plant will go into operation in 1990 kellogg said
texas eastern tet buys petroleum terminal
the zambian government today announced minor price cuts for essential commodities as part of its new economic strategy while police and troops patrolled the northern copperbelt to prevent any outbreaks of rioting
shr 99 cts vs 97 cts net 31011000 vs 30899000 sales 6515 mln vs 5831 mln year shr 313 dlrs vs 292 dlrs net 98643000 vs 92347000 sales 261 billion vs 251 billion note 1986 results reflect two for one stock split of july 23 1986
yesterday shearson said it was elevating its chief operating officer jeffery lane to the added position of president which had been vacant
sosnoff ends pratt prat southmark sm deal
completion is expected within the next year it said
tax 109 mln stg vs 105 mln making 468 mln vs 394 mln
the vessel has retained some power and yesterday evening was in position lat
spectra physics spy board rejects tender offer
the bank of england said it had given the money market a further 485 mln stg assistance in the afternoon session
in the light of the precipitous falls on uk equity markets in the past few days there will almost certainly be a straightforward impact on consumer spending and on retail sales temperton said
the complaint also alleges federal securities laws violations and breach of fiduciary duty
seal inc said it acquired ademco ltd a united kingdom company which distributes mounting and laminating equipment and supplies for a combination of cash and stock valued at 26 mln dlrs based on current exchange rates
industry sources also predicted usair might reject the twa offer on price and financing concerns
air canadas 54 mln us dlr acquisition of gelco corps gec canadian unit has dramatically altered canadas fast growing courier industry largely dominated by us companies until this year company officials and analysts said
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
revenues exclude those for us sprint a joint venture with gte corp gte
turkeys current account deficit widened in july to 674 mln dlrs from 454 mln in june but fell from 122 billion in july last year the state statistics institute said
ministry officials said the decline was due to bad weather and a reduction in the land under sugar cane this season which totals 34800 hectares down from 35700 in 1985 86 they said
moodys investors service inc said it downgraded 50 mln dlrs of debt of allied bancshares inc and the lead bank allied bank of texas
the demand deposit component of m 1 increased to 479 billion dlrs in december from 462 billion in november and 405 billion in december 1985
we have not run away from the auction
saxon oil development partners sax in payout
lone star lce agrees to buy concrete operations
the dollars steep fall stems from the markets belief that the trade imbalance will continue to expand he said
marine corp mcoro 3rd qtr net
synergy group is offering 85 mln dlrs of senior subordinated notes due 1997 with an 11 5 8 coupon and par pricing said sole manager lf rothschild unterberg towbin inc
frances finance ministry said it named credit commercial de france ccf and goldman sachs as its advisers in the privatisation of societe generale sgenpa a ministry statement said accountants guy barbier had been chosen to audit the societe generale accounts ahead of the privatision share offering later this year
the crop since january has been hit by high temperatures and inadequate rainfall
bolivian miners call general strike
taiwan south korea west germany japan all those miracle economies deliberately undervalued their currencies the peso has been free floating since june 1984
his bill would provide for private suits if the acquiring company violated the time period on the tender offer
kent rockwell who controls rockwell venture capital inc will buy 27 pct of the companys cumulative preferred stock
the usda projected an average yield of 150 gallons of fcoj per box versus last months estimate of 147 gallons
it said the exercise price will be substantially reduced in the event of an acquisition of 25 pct or more of common stock
the american meat institute ame said it intended to ask the us government to retaliate against a european community meat inspection requirement
it sold 825 billion francs of 850 pct june 1997 tap stock at a top accepted price of 9630 pct giving an average yield of 872 pct
chrysler corp said it valued its proposed buyout of american motors corp at 757 mln dlrs not counting the effect of a contingent payment that could reach 350 mln dlrs based on amcs future profits
the survey estimated opec february output at around 16 mln bpd
export credit bank founded by caribbean nations
block can choose where and by how much it wants to expand into the seven cities made available for the direct filing by the irs bloch noted
the exchange said it did not know when the yen bond futures contract would be approved the the cftc but that cftc provisions require that new contract submissions be acted upon within one year after submission
cyprus has interests in coal and other minerals aside from copper
all the goodies in this budget will be in place by the middle of may morgan grenfells bell said
midland bank international financial services is issuing a 900 mln franc floating rate note due april 15 1997 at par lead manager societe generale said
poehl said west germany had lived up to its side of the bargain in paris by preparing the way for tax cuts to be accelerated as a way of stimulating growth
commercial union will be able to issue medium term notes in us dollars or sterling with the dollar notes listed in luxembourg while the sterling notes will be listed in london
williams cos said it expected oil and fertilizer transportation volumes to be flat in 1987 but said operating profits from the pipeline unit should improve from 494 mln dlrs earned last year when a seven mln dlr special charge was incurred
jonathan nelson managing director of narragansett capital corp narr which is participating in the buyout plan declined to say if buyers have already been lined up for the entertainment group
richard gephardt said
congress may very likely look at the soybean loan and decide that they cannot increase it from its current 502 dlr basic rate but that there has to be something mandated to increase soybeans competitiveness david graves aide to sen
because the bill would move 28 billion dlrs of spending into fiscal 1987 from fiscal 1988 the measure is expected to meet stiff resistance in the full house
the question is not if we want to penetrate the german market but how we are to do it van schaik said adding that while the widely traveled germans seemed to be developing a taste for foreign beer the internal structure was very regionalized
we generally make a distinction between secured and unsecured debt and this was the key factor in our downgrade a spokesman for drexel said the action did not affect the holiday inns deal which had already sold out to investors by late friday afternoon
a solution to brazils debt problems is unthinkable without the involvement of the international monetary fund juergen sarrazin management board member of dresdner bank ag responsible for latin america said
yesterday british minister michael jopling said britain west germany portugal the netherlands and denmark were opposed to the measure
moodys said the substantial new capital committed to these markets and the size of direct competitors increased the uncertainty of future performance
a statement said the firm expects to pay total dividends for 1987 of not less than 40 cents a share on the expanded capital
because it was a voluntary deal many bankers feel strongly that the orginal terms must be adhered to
the trend is likely to continue until other countries replace pakistan which usually buys all qualities of our tea he added
late yesterday the company said it has offered 707 dlrs per share for all gates learjet shares
woolworth holdings pretax profit 1153 mln stg vs 813 mln year to end january
terms were not disclosed
a department official attributed the increase to growing domestic investment by the private and public sectors
india and japan to discuss iron ore prices
new zealands unemployment rate fell to 60 pct of the workforce at the end of february from 61 pct in january but was above the 43 pct level of february 1986 the labour department said
at midsession the central bank changed the shortfall to 500 mln and provided assistance worth 96 mln stg through bank bill purchases in bands one and two at established dealing rates
french state agricultural bank caisse nationale du credit agricole has joined the group led by publishing house hachette which is bidding for control of the state television station tf1 replacing banque nationale de paris which has withdrawn hachette said in a statement
shearson lehman livestock analyst chuck levitt said futures will be in the shadow of a little larger seasonal hog marketings pace next week
the split will be effected in the form of a 50 pct stock dividend on both classes
a senior abu dhabi oil official said in remarks published today the emirate largest producer in the united arab emirates uae was succeeding in marketing its crude oil without breaching opec accords
intl lease ilfc files 500 mln dlrs offering
but he added the industry could not wait for legislation to pass and that action was required now to help the depressed electronic industry
it may also take some time for the proposals to go through and in the process they may be altered by the various constituencies affected by the move
the trail smelter produced 240000 long tons of zinc and 110000 long tons of lead last year while the sullivan mine at kimberley produced 22 mln long tons of ore last year most for processing at trail
loading of a 50000 tonne cargo on the soviet freighter nikolay kuznetsov for shipment to odessa was completed today at the lucinda terminal he said in a statement
the debentures have an 11 3 4 pct coupon and were priced at 9950 drexel said
hata said protectionist pressures in the international economy are as strong as ever reflecting financial deficits payment imbalances and serious unemployment in many countries
that has not yet shown up in dollar based statistics on trade but it will he said
get 115 cts per bushel in this next payment 575 cts in certs and around 55 cts cash 575 cts minus gramm rudman farmers who did not receive advance deficiency payments at signup will receive 63 cts per bushel
he repeated the us demand that japan lift the quotas on beef and citrus after march 31 next year
but it said gas reeserves rose to 731 trillion cubic feet from 722 trillion at the end of 1985 despite a 309 mln cubic feet downward revision in previous reserve estimates during 1986
he cited an iranian silkworm missile strike last friday in kuwait waters against the united states flag ship sea isle city
convest energy partners ltd cep 4th qtr loss
the companies said the tender offer and withdrawal rights will expireon tuesday april 28 unless extended
it is essential that wheat moves by the most economic mode to the nearest efficient port irrespective of the state in which the wheat is grown or stored it said
net includes pretax gains on sale of assets of 162000 dlrs vs 400000 dlrs in quarter and 877000 dlrs vs 1229000 dlrs in nine mths
the price was not disclosed
the auditors said their opinion was subject to first city eventually obtaining additional capital
in the second fiscal quarter last year tandem earned 9950000 dlrs or 29 cts per share on revenues of 1763 mln dlrs
the union had requested a three pct wage increase in each year of a two year contract
japan britain disagree on telecom merger
rha leaves today for ottawa for trade talks with canadian officials and businessmen
bundesbank leaves credit policies unchanged
the basic ideas of the ldps plan were presented to and welcomed by monetary authorities of the major industrial nations in washington last week they said
the international chamber of commerce stopped publishing a tin price after the london metal exchange lme stopped tin trading on october 24 1985
other than livestock australias overall meat sales to the middle east rose to 72374 tonnes in 1986 from 52403 tonnes the previous year largely due to the sale of 25790 tonnes of mutton and lamb to iran
chilean gdp up 57 pct in 1986 central bank says
the size of the package thus comes to about 76 billion dlrs the largest ever assembled in the international credit markets citibank said
the company also said it plans to redeem the debentures on june eight
degussas contribution to the exploration budget will be based on it matching international platinums past exploration and acquisition costs estimated at about two mln dlrs and then contributing on a pro rata basis international platinum said
since the tenders started last july 861000 tonnes of british feed wheat have been sold back to the home market
analysts polled by estimated after tax profits from operations will be between 1525 billion and 18 billion dlrs compared with 123 billion in 1985
comerica inc cmcao 3rd qtr net
however the company said it has been assured that the orders will be placed beginning in its fiscal third quarter and that it expects a strong rebound in earnings for the third and fourth quarters
arrivillaga said bilateral aid donors who form part of a consultative group led by the world bank might be prepared to finance the land transfers
uspci which has 87 mln shares outstanding was trading at 48 1 8 down 3 8
national pizza co said the seven straw hat piza restaurants in los angeles and bakersfield calif that it announced plans to buy friday are expected to generate annual sales of about 3800000 dlrs not the eight mln dlrs the company originally announced
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
turkey to import 100000 tonnes of crystal sugar
under the leadership of shad the sec eased financial disclosure requirements for publicly traded companies eliminated many minor investor protection rules attempted to spur competition among exchanges and streamlined the agencys review of hostile corporate takeovers
it also lowered the ratings of gelco unit cti international incs senior debt to ba 3 from ba 2 and ctis subordinated debt to b 2 from b 1
gencorp asks shareholders to postpone action in tender offer
he added jacksons is arranging an offer by barwon to pay a total 38 billion pesos in cash for 38 mln san miguel shares
sosnoff who tried unsuccessfully to acquire caesars world earlier this year said in a filing with the securities and exchange commission that he sold 338975 caesars world shares on october 15 and 16 at 2250 dlrs to 2525 dlrs a share
yesterday arco said the proposal had not yet been presented to its board
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 violations were worth 100 mln dls to the japanese semiconductor industry they said
there are 24 managers and five participants
the oecd calculated farm subsidies for other industrial countries such as canada australia and new zealand but in most cases the results were much lower than for the us ec and japan the sources said
also excluded are reserves of 1400000 tons of low grade material that could be milled profitably at 425 dlrs a ton for gold
that is our approach in negotiations with the soviets he said
zhao said china should work to provide a more favourable investment environment for foreign businessmen
william palmer the groups spokesman which claims to speak for thousands of united employees said the meeting with olson was positive and friendly but no future meeting dates were set
youre dealing with substantially lower volume mulligan said
we are not sure how much soviets have bought but we think it could be as high as 35 mln tonnes amstutz told a house agriculture appropriations subcommittee
qtly div 10 canadian cts vs 10 canadian cts prior pay may 25 record april 20
bevis industries seeks buyer for company
suffield financial ssbk gets fed approval
the italian treasury said it would offer 2500 billion lire of indexed government discount certificates at rates slightly higher than on the preceding issue
maryland national corp the parent of maryland national bank which earlier this month merged with american security bank said its shareholders will vote on a new name for the regional bank holding company at its april 29 annual meeting
27 put an end to a process which had been the calvary of our nation over the post four years in the refinancing accord he said venezuela managed to achieve the most inmportant thing which is the reopening of financial flows from abroad essential for the financing of development and the financing of trade and investment once all the details of the agreement are finalized he said venezuela will seek new financing for the imported components of new development projects
since then market speculation has centered on amoco and exxon corps xon 70 pct owned imperial oil ltd subsidiary in canada
greenmail often involves the repurchase of shares at a premium by a company from an unwanted investor
more than half of remaining proved reserves are in the middle east he said
the diplomat said stocks at end august 1986 were 237 mln tonnes up from 192 a year earlier
4 nuclear power plants in the pacific northwest at the time it was selling the bonds
younger told a us chamber of commerce meeting that us legislators were failing to realise the true nature of the two way street in terms of ideas technology and equipment
reserves were reported to have dropped below four billion dlrs
denominations are 1000 and 10000 dlrs and listing is in london
the reserve bank has raised its daily cash target to 45 mln nz dlrs from its normal 30 mln dlrs
the bank said that the issue was no longer operating as a tap having been supplied at a price of 94 stg pct this morning
elcor corp said it raised its quarterly common stock dividend to 11 cts a share from nine cts and declared a two for one common stock split
but he said the larger creditors were more interested in a scheme of debt equity swaps similar to that which has operated in chile for the past two years
it said deputy finance minister boris skapin was holding talks on this with representatives of manufacturers hanover trust co which coordinates the interests of several hundred banks in yugoslav debt negotiations
it would also reduce export credits that do not involve aid and reduce credit subsidies permitted for relatively poor countries the treasury said
the us economy is picking up and buying decisions are being made
the legislation is part of the omnibus trade bill being considered by several committees
between them these countries have more than enough voting power to block it
federated department stores inc 4th qtr shr 364 dlrs vs 316 dlrs
first quarter performance for the rest of time inc will be better than last year bigelow said
the new accord is due to replace the current one which expires in october
ecolab ecl debt may be downgraded by s p
the company currently has 14 mln shares outstanding
dub said the offering sold out quickly mostly to institutional investors
return on common shareholders equity was 186 pct last year up from 15 pct in 1985
in his testimony haggard indicated there are ways other than a marketing loan which should be considered to help soybean growers such as a so called producer option payment or a direct payment program
a surge in automobile assemblies in february and a gain in primary metals production helped raise manufacturing to 801 pct capacity from 799 pct in january
obviously dayton hudson people feel whatever statutes we have would not protect them enough vanasek said
he also said that csr is sufficiently encouraged by future prospects and the opportunity to reposition the group in core businesses to foreshadow an increase in final dividend payable in july to 10 cents from nine to make an annual 19 cents against 18 in 1985 86
shr loss 42 cts vs loss five cts net loss 40 mln vs loss 446000 revs 589 mln vs 703 mln note1986 net includes gain of 40 cts from discontinued operations
phelps dodge could spend between 250 mln and 500 mln dlrs to buy another non copper company durham said citing about 100 mln dlrs of cash and 580 mln dlrs of untapped bank credit
the company said 90 pct of millens cards have been sold in the northeast and mid atlantic states but bean expects to increase sales to 2500000 dlrs this year by distributing the line nationally
waste management inc said it filed a motion in us district court for the southern district of ohio to dismiss the counterclaim brought against it by chemlawn corp chem the litigation relates to waste managements cash tender of 27 dlrs a share for all shares of chemlawn
that will leave the cable and wireless group with an 80 pct stake in hong kong telecommunications the government 11 pct and nine pct in public hands
they cannot be imposed by the united states alone on the world trading system he said
the west texas cotton crop was largely unscathed by an isolated thunderstorm in that region last night that packed hurricane force winds crop and weather experts said
harcourt brace hbj may be lowered by moodys
synalloy syo ends plans to sell unit
shr nine cts vs seven cts net 1356000 vs 1041000 revs 97 mln vs 84 mln
oper shr loss 105 dlrs vs profit nine cts oper net loss 305 mln vs profit 3930000 revs 239 mln vs 456 mln 12 mths oper shr loss 530 dlrs vs profit 34 cts oper net loss 1558 mln vs profit 160 mln revs 1137 mln vs 1788 mln note oper excludes loss from discontinued operations of 9127000 dlrs vs 124 mln dlrs for qtr and 284 mln dlrs vs 960000 dlrs for 12 mths
shr not given net 540000 vs 1890000 revs 49 mln vs 71 mln
aegon 1986 net profit rises 64 pct
total dutch exports of soymeal in january were 128015 tonnes down from 133559 tonnes in december and 155050 exported in january 1986
the yens appreciation continued to affect employment in manufacturing industries and the total employed in may fell 210000 or 15 pct from a year earlier to 1410 mln
the fact that the real estate market is still moving away suggests there could be some continuing growth of nonperforming loans in 1986 about 42 pct of texas commerces net loan losses related to real estate lending and 13 pct was due to energy loan losses
increased its 1986 pre tax profit by 39 pct from the previous year to 1301 mln stg on a 43 pct rise in revenues to 6209 mln stg
singapores economy grew 19 pct last year after shrinking 18 pct in 1985
1986 nine mth results include extraordinary gain of 3843000 dlrs or 22 cts
i dont believe in the slump of the market he said
stoltenberg had to leave monetary talks in washington last month early to sort out a row in the northern state of schleswig holstein where he heads the ruling cdu party
the sia in a report adopted yesterday by its board of directors backed a higher enforcement budget for the federal securities and exchange commission and called on us stock exchanges to beef up their supervision of member brokerages
central banker janos fekete has said the finance ministry is trying to cut the 1987 shortfall to between 30 and 35 billion from a planned 438 billion
the relative failure of recent intervention stands in sharp contrast to the success that central banks scored when they joined forces to drive the dollar down following the september 22 1985 plaza accord
texaco tx unit raises crude oil prices
we naturally share the concern of saudi arabia and other opec members about the harmful effects of oil market volatility for both producer and consumer countries thatcher said
the white house said high us tariffs on japanese electronic goods would likely be imposed as scheduled on april 17 despite an all out effort by japan to avoid them
tbg holdings nv tgbnas 1986 year net
bankers expect that much of the pressure on the us banks will come from us regulators notably the federal reserve
opec will renew its production pricing agreement in june because the value of the oil exports of the opec producers has declined along with the us dollar randol said
at this weeks session the council elected philip sparkes of australia as first vice chairman for the producing members and heinz hofer of switzerland as second vice chairman for the consumers for the year from july 1
qtly div 10 cts vs 10 cts prior pay april 15 record march 30
the bank of england said it had lent one billion stg to the discount market for fourteen days at 10 pct
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
pdvsa officials said that among those who bid for the partnership is a consortium between agip carbone a subsidiary of italys ente nazionale idrocarburi eni and atlantic richfield arc of the united states
italys economic outlook for 1987 and 1988 is likely to be less favourable than last year with slightly lower growth higher unemployment and an increased trade deficit the organisation for economic cooperation and development oecd said
brazil rejects all offers at wheat tender
treasury secretary james baker said that the current expansion which he noted was in its fifth year will continue in the period ahead
klm says it is not seeking air atlanta stake
shr loss 15 cts vs loss 19 cts net loss 2161000 vs loss 2873000 revs 245 mln vs 226 mln
west german finance minister gerhard stoltenberg said he could not rule out the possibility of central bank intervention to support currencies
dixons said the stock was purchased in a single block transaction at 95 dlrs per share
kloeckner attributed the profit decline to the fall in prices as well as the lower value of the dollar
excluding the impact of the non accrual loans irving said its first quarter net income would have rose 84 pct to 329 mln and per share amounts would have risen eight pct to 175 dlr
we should recognize ecuadors right to increase its quota there is a basis of justice in that countrys petition he added however the quota increase should be gradual to avoid harming the market he added
now they are falling but they have not reached the critical level compelling china to import quickly he said
musicland group inc tmg 3rd qtr net sept 25
on february 12 it reported unaudited results
bankers trust bt sells equity contract notes
ps group inc said it and usair group agreed to move up the completion date of usairs acquisition of pacific southwest airlines to april 30 from september 30 originally
because brazilian soybean prices are now some 10 cents a bushel cheaper than us origin due to the bumper harvest it is highly likely that japanese crushers will increase their buying volume one source said
presently to qualify for the refund the sugar must be processed within three years after import and exported within five years
guilford mills said it expects the issue will be offered later this month
s african union objects to planned matthey move
the venezuelan company also signed a 25 year feedstock agreement with the partnership to supply at least 140000 barrels a day of venezuelan crude oil and naphtha at market related prices
soybean export guesses ranged from 140 mln to 160 mln up from the 134 mln inspected last week but below the 255 mln reported a year ago
1986 net both periods excludes 143000 dlr tax credit
western mining sells acm stake
shr 65 cts vs 10 cts net 55960000 vs 8785000 revs 5882 mln vs 5961 mln avg shrs 85710000 vs 87987000 nine mths shr 124 dlrs vs 44 cts net 106738000 vs 39055000 revs 198 billion vs 224 billion avg shrs 86320000 vs 88007000 note 1986 data restated for adoption of new accounting standard relating to pensions 1987 nine month earnings include 331 mln dlr after tax writeoff in the 4th qtr of 1985 of a portion of the assets of the companys midland nuclear project
weve been trading in a state of total panic at times today said another
shr nine cts vs one ct net 247489 vs 27301 sales 1933107 vs 796613 six mths shr 21 cts vs five cts net 565106 vs 121997 sales 3781970 vs 1778110
whenever we start getting into details the clouds gather one delegate said
development of new products and increased promotion have helped make rice more available and visible to a wider range of consumers usda said
the resistance to the deal must be seen alongside the fact that it is the largest loan for a latin american debtor since the regions debt crisis flared up in 1983
under the agreement signed february 27 venezuela extended payments on the debt from 12 to 14 years while the interest rate was lowered from 1 y 1 8 to 7 8 of a pct over libor
gencorp gy group holds 98 pct stake
the company also said through yesterday when its tender offer for 3300000 princeville shares was to have expired it had received over seven mln princeville shares in the bid which has been extended until march 23 at 1800 est
it also may affect peanut cotton and tobacco imports committee sources said
world economic growth and therefore an expansion of debtor countries export markets are needed to solve the debt issue he added
uganda is the worlds fifth largest coffee producer and expects to produce about 200000 tonnes this year
equicor equitable hca corp said that the company will likely attain revenues in excess of two billion dlrs in its first year of operations
it said the extension was subject to further extensions by the board and is conditional on no person acquiring beneficial ownership of 20 pct or more of gencorp before april 6
the rigs wont go back to work until the price of oil gets above 30 dlrs he said adding that while he expects to see 50 dlr a barrel oil he does not expect to see 2000 rigs operating in his lifetime
thus far nomura securities international inc is the only other foreign firm to manage a us debt offering
on the international front baker said banks must do more lending to developing countries
usda says wheat purchased from foreign sellers
italys gross domestic product gdp will grow three pct in real terms this year and 27 pct in 1988 said economic information company data resources europe inc dri michel girardin dri europes senior economist said at a conference that italian gdp growth this year will be mainly driven by consumption and especially investment girardin said the driving force behind gdp growth next year will shift from domestic demand to exports as a result of expected depreciation of the lira against the major currencies
the non callable bond is guaranteed by hertz corp
major oil companies are trying to boost their gasoline sales network ahead of the proposed lifting of gasoline production quotas an official at a major oil company said
novatronics makes military specification power supplies and avionics components for various prime government defense contractors
it said home savings had assets of 1506 mln dlrs in assets and interwest had assets of 3429 mln dlrs
as a result the company said it has 6922949 shares of common 155009 shares of preference stock which are convertible into 1149681 shares ov common and 2690877 shares of preference stock convertible into a like number of common shares
kansas republican congressman pat roberts urged the reagan administration to offer export enhancement program eep subsidies to the soviet union
vws credit bank subsidiary optimistic for 1987
marathon petroleum company a subsidiary of usx corp said it lowered posted prices for crude oil by 50 cts with an effective date of october 16
continental said the initial payout was subject to canadian government approval
qtr ended june 7 shr six cts vs 17 cts net 1332000 vs 3658000 sales 583 mln vs 516 mln nine mths shr 40 cts vs 25 cts net 8875000 vs 5034000 sales 1584 mln vs 1336 mln
significant downside potential still exists for the argentine crop the official said which will decrease the amount of additional corn that country can sell to moscow
mutual shares corp and mutual qualified income fund inc said they were weighing offers to buy purolator shares from pc acquisition inc a unit of ef hutton lbo inc for 35 dlrs a share and from eaf acquisitions corp inc a unit of emery air freight corp
arkansas best also said that if the industry sustains the upcoming 29 pct motor carrier rate hike it will offset the teamster labor increase scheduled for april 1
rubbermaid inc said its incoming order rates continue strong and it expects to continue recording favorable year to year comparisons in each remaining quarter of 1987
the eib has already lent a total of 600 mln francs to sncf for the high speed train system in 1985 and 1986
in a filing with the securities and exchange commission harris said it sold 87350 cyclops common shares between jan 6 and march 2 at prices ranging from 6575 to 9100 dlrs a share
tokyo bundesbanks schlesinger sees no reason to lower interest rates
prior year figures include 105 mln dlr provision for future losses at elsinore shore associates
another said conrac might have trouble if it tried to find another buyer
hydrogen power inc initial public offering of three mln shares of class b common stock with a minimum of two mln shares at five dlrs each needed to be sold
saudi arabias state owned oil company petromin has made some concessions on term prices to japanese customers in the recent round of contract renewal talks and it is likely the japanese will accept the offer the sources said
shr 336 dlrs vs 333 dlrs net 16173000 vs 10603000 sales 4208 mln vs 2761 mln avg shrs 44 mln vs 32 mln note 1985 net includes tax credits of 69 mln dlrs or 219 dlrs a share
congressional sources said the only way to achieve significant budget cuts through arp increases would be to boost the 1988 corn arp
ccc export bonus dairy cattle for canary islands
harper group harg 4th qtr net
megavest industries inc said it has agreed in principle to acquire unlisted computer trade development corp in exchange for 119 mln shares of its common stock
ultimately the brazilians are going to have to pay up on all the interest they owe cohn said
this refusal for a time appeared to jeopardize the prospects for successful agreement with the rest of the banks mulford said
argentina has since last month been negotiating a 215 billion dlr loan with the steering committee for its international creditor banks to meet 1987 growth targets
study says pork leaner than usda figures show
seasonally adjusted imports rose in february to 716 billion stg from 673 billion in january
british trade and industry secretary paul channon said japan must heed a report issued by a japanese government advisory body in december calling for faster domestic demand to help cut its trade surplus and restructure its economy
industry analysts said japans ministry of international trade and industry or miti had requested the cut backs in production to meet the terms of last years semiconductor accord with the us the reagan adminsitration recently proposed tariffs on japanese electronic goods alleging that japan had failed to live up to the accord and continued to dump the computer components in the us market
since then however both the central bank and finance ministry have made it clear they favour lower official rates
five new directors were also elected to the companys board
the class j five bonds totalling 49987 mln dlrs will be fully paid by august 2017 and priced at par to yield 857 pct
venezuelas energy and mines minister arturo hernandez grisanti earlier described the agreement under which pdvsa buys 50 pct of champlins corpus christi refinery as one more step in the maturation and presence of our oil industry in world markets union pacific chairman william cook said the agreement will be beneficial to both sides combining a secure source of supply with a modern refinery and access to markets
skandia international buys stake in nevi baltic
spot april us soybean contracts will increase to 90000 yen per 15 tonne lot from 70000 now
george gaspar an oil analyst with robert w
the company said it repurchased 2100000 shares under an april authorization to buy back up to three mln shares and authorization for further repurchases under the old program has been withdrawn
it was priced at 8122 pct and lead managed by nomura international
the investor group which includes barris industries brrso recently reported that it acquired a 98 pct stake of media generals class a shares and might seek control
as of november 30 the company had about 26 mln dlrs of total debt outstanding
it said the operation accounted for less than two pct of worldwide sales of 45 billion dlrs in 1986
the constructive way to work in the needed direction would be to reduce our budget deficit year by year paving the way for improvements in our trade accounts he said
shr 25 cts vs na net 3081000 vs 2063000 nine mths shr 86 cts vs na net 105 mln vs 6966000 note year ago per share amounts not available as bank converted to stock ownership august 13 1986
nzi capital corp a unit of nzi corp is offering 150 mln dlrs of guaranteed notes due 1997 yielding 836 pct said sole manager kidder peabody and co inc
bell resources boosts stake in bhp
norsk data lowers 1987 pre tax profit forecast by 100 mln crowns
we have a fast track authority from your congress for approval or rejection of whatever the negotiators achieve clark said that as a practical matter an initial agreement must be reached by late september or early october
huckaby said by simply bringing forward to the third quarter of the year sugar imports scheduled for the september to december period we could get away without having to increase the quota he noted that some in the sugar industry believe an increase in the quota is justified
iran is pursuing the pipeline project to protect part of its oil exports from iraqi air attacks in the gulf
koizumi said the ldp plan will not specify the size of the tax cut or the amount of domestic demand to be stimulated
athens says it considers the accord inactive
moodys upgrades ge ge mortgage insurance unit
the division had sales of 113 mln dlrs in 1986
jp stevens and co stn in payout
us farm credit banks defer april 20 offering
there were signs of reawakened investor nerves affecting trade in the floating rate note market which yesterday started the week extremely quietly after a hectic sell off last week
while problem energy loans appear to be abating real estate problems are mounting s and p said
at the end of the talks he said brazil hinted it could sell more than anyone else and others would suffer
valero energy corp vlo 3rd qtr loss
prudentials pre tax profits rose from 1985s 1101 mln stg to 1781 mln stg in 1986
david woods spokesman of the general agreement on tariffs and trade gatt told a news briefing that the main parties would continue bilateral talks
about 2800 ufcwu members have been locked out at the dakota city plant since december 14
mcivor said that of the some 30000 oil fields discovered so far only 37 one one thousandth of the total number contained about 35 pct of all the oil ever discovered mcivor said in response to a question that he did not believe there were any more super giants or oil fields with reserves greater than five billion barrels to be found which would change the conclusion of the worlds growing dependency
the bank also set a lira mark rate of 43060 43275 to the mark down from the previous 42935 43150
the proposal will be used as the basis for a more detailed ldp economic package to cut the trade surplus with the us the party is expected to formalise the package before april 19 when ldp general council chairman shintaro abe visits washington
if that takes place natural gas will also regain some of the market share it lost to heavy fuel in 1986 it said
csr says it is retaining non delhi gas oil stakes
it had principally operated as a volvo dealer
lower interest rates seen following irish budget
the ucpb rejected an original offer of 100 pesos per share made by smc for 33 mln shares which grew to 38 mln after a 15 pct stock dividend declared in june last year
central bank governor chang chi cheng told reporters the reserves rose only about 500 mln us dlrs in the past two weeks and the local dollar appreciated more slowly against the us dollar
the purchase will be through 14 mln stg in cash and the issue to sears plc of 80 mln new lex ordinary shares
top us chipmakers like national semiconductor corp nsm texas instruments inc txn and motorola inc mot might also seek to buy fairchild but could possibly run into antitrust problems the analysts added
despite a dramatic rationalization of its fork lift truck axle and transmission and construction equipment operations continuing intense competitive pressures are limiting clarks growth and profit potential s and p said
s african producer price inflation falls sharply
the issues value had been enhanced by its partly paid structure which not only enabled investors to defer payment of the major part of the price until april 27 but also conferred a substantial gearing element
westerns president christopher j
1986 net includes non cash loss of 1436000 dlrs or 22 cts shr vs yr ago loss of 1922000 dlrs or 39 cts shr from depreciation and amortization allowances on us cable tv operation
automatic designs and manufactures a line of machine vision systems for the packaging pharmaceutical electronics and consumer goods industries
open interest also set new records last month in eurodollars at 29372 contracts in ft se 100 at 4898 and in short sterling interest rate futures at 19846 lots
emerald homes ehp sets initial distribution
the company said the asset sales have eliminated bc resources long term financing commitment in the north sea and exposure to the fluctuating pulp market
weston inc wstna 4th qtr net
otherwise our response will be very negative the senior official said
the coupon is expected to be around five pct daiwa said
1986 ended dec 31 and 1985 ended nov 30
1985 year and qtr includes gain of 10 mln dlrs and loss of 190000 respectively from discontinued operations
denominations would be 500000 and one mln dlrs and similar amounts in sterling and other currencies
shr 97 cts vs 81 cts net 608 mln vs 511 mln revs 4874 mln vs 5297 mln 12 mths shr 342 dlrs vs 218 dlrs net 2150 mln vs 1372 mln revs 274 billion vs 288 billion note 1986 results restated for change in accounting
we are aware of the seriousness of the us threat against japan because it serves as a warning to us said a senior taiwanese trade official who asked not to be named
to reverse such a rise in the money stock interest rates would have to be lowered to allow funds to drain off
general nutrition inc gnc 4th qtr net
an arbitration panel set up by president corazon aquino to resolve the ownership issue is expected to submit its report by april 15
qtr ends jan 30 oper shr loss 45 cts vs profit 44 cts oper net loss 225815 vs profit 219593 revs 175247 vs 827748 note oper net 1987 excludes loss from discontinued operations of 125047 vs loss 34055 for prior qtr
cash in circulation in west germany rose by 28 billion marks in the last week of february to 1215 billion a gain of 83 pct over the same month last year the bundesbank said
santos alvite said ecuador will ask opec to allow it to produce 100000 bpd above its quota when the pipeline is repaired to offset present production losses
the major french bank said it sold yen at a rate of 14928 against the dollar
uganda africas second largest coffee producer was disappointed by the stalemate in recent coffee talks in london the chairman of the state run coffee marketing board cmb said
the americans are getting frustrated at japans inertia in stimulating its economy said hirozumi tanaka assistant general manager of dai ichi kangyo bank ltds international treasury division
taiwans savings at record high
the figures may be distorted as many german investors buy gold bullion in switzerland or luxembourg to escape the 14 pct value added tax imposed here
the figure for women was 256500 at end march against 256100 a month earlier and 259400 at end march 1986
sage analytics saii sets stock split
in a speech to the annual meeting schutz said third party orders placed with porsches engineering research centre in weissach were rising and should top 100 mln marks this year for the first time
shr loss five cts vs loss six cts net loss 696777 vs loss 598095 sales 472812 vs 41454 nine mths shr loss 15 cts vs loss 17 cts net loss 2194482 vs loss 1751884 sales 800336 vs 151884
microsemi corp a supplier of semiconductor products and assemblies said it has acquired the operating assets of hybrid components inc for 22 mln dlrs in cash
first dealings will take place this wednesday march 4
finally looking ahead melzer pointed out the potential for a further rise in inflationary expectations
from october 1 no direct trade would be allowed in either direction with certain exceptions covering medical supplies and printed matter gradin told a news conference
shr nine cts vs seven cts net 1356000 vs 1041000 revs 9729000 vs 8367000
i personally think the company is worth around 55 dlrs per share said pershing analyst richard henderson
northern telecom ltd nt declares stock split
shr loss 22 cts vs profit 10 cts net loss 1056000 vs profit 427000 sales 5440000 vs 4982000 avg shrs 5229542 vs 4435691 year shr profit one ct vs profit 26 cts net profit 29000 vs profit 993000 sales 191 mln vs 168 mln avg shrs 4947632 vs 3780543
squibb corp sqb 3rd qtr net
chevron nsea find may hold 300 mln bbls analysts
italy consumer prices rise 04 pct in february
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
but officials noted that poehl has worked closely and successfully with finance minister gerhard stoltenberg since kohls government took office in 1982
shr 30 cts vs 31 cts net 113 mln vs 117 mln revs 265 mln vs 263 mln nine mths shr 92 cts vs 95 cts net 343 mln vs 355 mln revs 788 mln vs 782 mln
diamond shamrock raises crude oil posted prices 50 cts a bbl effective yesterday wti to 19 dlrs
payment date is april 2 1992
quotes included delivery this week on the illinois river joliet 135 pct of tariff bid 140 offered with next week same river ex chicago quoted the same both up 2 1 2 percentage points
slight drop in philippine treasury bill rates
we do not want to export a model garcia told a press conference at the end of an official two day visit to mexico yesterday
what we need is a resolution of trade issues we need visible efforts to restructure the economy to encourage more imports and we need greater domestic led growth forecasting sluggish economic growth in japan this year wallis urged tokyo to stimulate domestic demand to help reduce its trade surplus which hit a record 83 billion dlrs in 1986
it should cut capacity to 38 mln barrels per day about 75 pct of current capacity
the bankers are not the only ones to be upset by the protracted negotiations surrounding the agreement
there is a 1 1 4 pct selling concession and a 5 8 pct combined management and underwriting fee
newmont is spinning off 85 pct of its copper operations to its shareholders
concord fabrics cis restructuring debt
efforts by governments to control wheat surpluses by cutting support prices have met with only partial success the international wheat council iwc says in its latest monthly report
the dollar tumbled one day after top finance officials from the seven largest industrial nations reaffirmed their commitment to support its value and despite reports of intervention by the us federal reserve bank traders said
shr 57 cts vs 72 cts net 27 mln vs 33 mln six months shr 45 cts vs 84 cts net 21 mln vs 38 mln note1987 six months includes 790000 dlr charge
harper international hnt in acquisition
shr 56 cts vs 68 cts net 8327000 vs 9738000 nine mths shr 219 dlrs vs 167 dlr net 328 mln vs 248 mln avg shrs 150 mln vs 149 mln assets 558 billion vs 434 billion deposits 360 billion vs 327 billion loans 296 billion vs 290 billion
bundesbank board member claus koehler said in a speech that monetary growth resulting from speculative capital inflows required cuts in interest rates
becor western inc said investment limited partnership of greenwich conn and randolph w
1987 nine mths net includes 166 mln dlr charge for settlement of suit
mitsui and co intends to import imatrons computerised diagnostic equipment into japan he said
moodys investors service inc said it upgraded the ratings on nrm energy cos senior cumulative preferred depository units to b 3 from caa
pay date is april 10
however on the first day of trading the market will open at 1000
the clouts are coming fom the west he said it then is a crisis atmosphere with officials cross the atlantic and dramatized with headlines
internal demand is now forecast to rise four pct against a previous target of 35 pct
ballys 325 unit health and tennis clubs had revenues in 1986 of more than 450 mln dlrs or about 28 pct of ballys total revenues of 164 billion dlrs
they said exports from the ras tanurah and juaymah terminals in the gulf fell to an average 19 mln bpd last month from 22 mln in january because of lower liftings by some customers
idc services agrees to be acquired for 16 dlrs a share by apollo partners group
in the first quarter of 1986 the refining and marketing segment showed a loss of 271 mln dlrs on revenues of 4921 mln dlrs
national capital ncets to make sale
concord fabrics inc cis 2nd qtr net
but mpt is finding domestic political prowess does not always help when it comes to trade friction diplomacy analysts said
it said it may add to its stake or sell some or all of it but has no plans to seek control of the company
some saw stocks unchanged to as much as three mln barrels higher
the figures also showed that on october 1 there were more than 8000 cooperative enterprises employing over 80000 people
trade and industry sources blame uncertainty about the icco for destabilising the market as the recent collapse in coffee prices has made traders acutely aware that commodity pacts can founder
saudi oil minister foresees no need for new opec measures before june 25
a thyssen spokesman told that planned job cuts at subsidiary thyssen stahl ag would be higher than announced earlier
he said the offer would be made at a meeting later this month between us trade representative clayton yeutter and ec external relations commissioner willy de clercq
canadian money supply rises in week
student loan marketing association slm 1st qtr
japan is completing constitutional procedures necessary to its accession to the icco and is expected to become an importing member in three to four months they said
in a letter to purolators chairman nicholas f
trading in coffee in calendar 1986 amounted to only 1905 tonnes in 381 lots valued at 687 billion rupiah
speaking to the national association of manufacturers proxmire said recent insider trading stock scandals increased the chance that congress will act to curb abuses
a further 100 mln bu of soybeans could be forfeited between september and end year
brunswick expects its recreation centers to benefit from increased attention to the sport of bowling resulting from acceptance in the 1988 summer olympics of bowling as an exhibition sport and as a medal sport in the 1991 pan american games he said
usda likely will allow historic oats farmers to plant oats but not extend the exemption to all farmers lyngs aide said
niagara mohawk corp said it is cautiously optimistic about results improvements for 1987 and said it is studying measures to cut operating costs
the issue is priced to yield 50 basis points over comparable maturity gilts
in a brief arrival statement he said iran and algeria were engaged in continuous and stronger cooperation on the world petroleum market and had deployed considerable efforts to stablise petroleum prices he was greeted on arrival by belkacem nabi the algerian minister of energy chemical and petro chemical industries
mci communications corp mcic made a similar filing yesterday saying greater the moves would increase competition in the telephone business
qtly div two cts vs two cts prior pay april 24 record april three
the remarks come just before next weeks meeting of the imfs interim committee and the joint development committee of the imf and world bank
the sources said the kingdoms exports from gulf ports averaged one mln bpd during the eight days ending last sunday down from a february average of 19 mln bpd
the narrow measure of money supply m0 fell by a seasonally adjusted 08 pct in february and rose by a non adjusted 41 pct year on year
ginsberg who is chairman has been named president and chief executive officer and siegel has been named chief operating officer the company said
this spring norways state owned oil company statoil exercised an option in the heidrun field exploration license that if approved by the government would allow it to relieve conoco as heidrun operator a move sharply criticised by conoco
the company said that subject to certain post closing adjustments it expects to post a small profit on the sale
german bank sees higher gold price for 1987
he added that while the company welcomes the expansion into new areas it is not currently involved in any acqusition talks
shr profit 20 cts vs profit five cts net profit 2273000 vs profit 563000 rev 387 mln vs 303 mln avg shares 11138503 vs 10982699 nine months shr profit 40 cts vs loss 10 cts net profit 4448000 vs loss 1123000 rev 1084 mln vs 752 mln note third qtr net includes gain from discontinued operations of 35 mln dlrs or 31 cts a share vs 271000 or two cts a share in fiscal 1985s third qtr
electroperu sa would repay the government the amount over 20 years with one year grace at zero pct interest
it is a simplistic misconception that brazil can dictate policy to other producers
siemens sees sales near 52 billion marks this year
media general meg holders may seek control
the main coffee growing areas in eastern zimbabwe have received little rain since april 1986 and the coffee growers association has begun a survey to assess the effects of the drought a spokesman said
in hawaii area harvested may decline slightly this year but likely will be offset again in 1987 by increased yields said eiler ravnholt vice president of the hawaiian sugar planters association
the system has 16 billion dlrs of bonds maturing on that date
enlarging on reforms washington would like to see baker said he wanted the iadb to play a much greater role in the us debt strategy for promoting inflation free economic growth open markets and a reduced government role in the economies of debtor nations
the bbb senior debt of two international units chrysler credit canada ltd and chrysler overseas capital corp was also affirmed
in february 1986 the rpi rose 04 pct giving a 51 pct year on year increase on the old basis
london sugar opens steady but quiet
the peking representative of a japanese securities house said the rapid yen rise had caught china and his firm unawares
victory markets inc owns and operates a chain of 88 retail supermarkets and conducts a wholesale grocery business in central and northern new york state
under the agreement rade koncar will own 60 pct of the venture and chronar will own 40 pct chronar said
parker drilling co said its board of directors voted to suspend the payment of dividends to shareholders
the volume of contracts traded on the new zealand futures exchange nzfe reached a record 25559 contracts in february the international commodities clearing house icch said
also on wednesday london dealers said the bank of england intervened in the open market to sell sterling as the uk currency rose to 160 dlrs compared with 15355 dlrs before the g 6 pact
the official said both surplus countries like west germany and japan and deficit countries like the us agreed to play a role in bringing about more balanced economic growth
pagurian corp ltd year net
foreign currency business last year accounted for some 37 pct of balance sheet total compared with about 41 pct in 1985
america west would retain the right of first refusal if ansett offered any of the shares for sale
painewebber group inc pwj gained 1 5 8 to 37 1 8 and merrill lynch and co inc mer rose 1 3 8 to 42 7 8
japanese net purchases of foreign bonds excluding bills dropped to 941 billion dlrs in february from 1046 billion in january the ministry said
cominco 295 pct owned by a consortium led by teck is optimistic that the talks will soon be concluded spokesman don townson told 
the opening compares with 14390 14400 yen at the close in new york
ng siew kee the chairman of malaysias cocoa growers council said malaysia should expand its sales to asia and the united states if it did not produce a type suitable for western europe
woolworth plans to open 650 more specialty stores in 1987
boliden said the companys liquid assets were 136 billion crowns at year end which together with an investment portfolio of 160 billion made it one of the most liquid swedish companies
sheikh ali al khalifa al sabah was quoted by the local daily al qabas as saying that none of the opec members has asked for such a meeting he also denied that kuwait was pumping above its opec quota of 948000 barrels of crude daily bpd crude oil prices fell sharply last week as international oil traders and analysts estimated the 13 nation opec was pumping up to one million bpd over its self imposed limits
the company attributed the loss to competitive pressures which have cut gross margins
banking sources said a third factor in the crisis was that commercial banks have lent the board only 77 billion shillings the equivalent of 55 mln dlrs for crop finance in the current coffee year while the government had asked for 100 billion
smoothed but non seasonally adjusted exports were 924 mln dlrs unchanged from january against 843 mln in february 1986
the official press has reported that farmers fear farm policy may change and they are putting their new wealth into building graves memorial halls for ancestors and homes
comdata had originally planned a recapitalization under which it would have repurchased up to six mln common shares at 1450 dlrs each
1985 year net includes pretax gain 7400000 dlrs from termination of pension plan
the etl cash offer values moniers issued capital of 15628 mln shares at 649 mln dlrs against 593 mln for the csr bid
transamerica will buy 11 mln newly issued class a shares of river thames for 223 dlrs per share
i think we got a better deal
in an interview with the west german weekly magazine der spiegel prime minister branko mikulic said last weekend yugoslavia had repaid 283 billion dlrs in principal and interest between 1981 and 1986
trydahl samuel mineo and charles e
upcoming changes being considered in the us agriculture departments transportation and loan programs were outlined by a usda official today
the companies said the proposed merger would bring together businesses that were largely complementary
euratom the european atomic energy community is issuing a 50 mln ecu six year bond with a coupon of 7 1 2 pct and priced at 101 1 2 lead manager banque generale du luxembourg sa said
avery inc said it began a public offering of two mln shars at 5025 dlrs per shares
some also look for a permanent reserve injection to offset seasonal pressures via an outright purchase of bills or coupons this afternoon
institutions and mutual funds are seeing some of their holdings called away
defense preoducts and other manufacturing operations will account for more than half sncs total 1987 revenues helping to counterbalance the more cyclical engineering and construction acivities taylor said
the world bank sources said the request for land reform funding would be discussed at a meeting of the world bank led consultative group to be held alongside the april 27 29 annual meeting of the asian development bank adb in osaka
we are not only holding our gains on unemployment we are bringing unemployment down he said adding that the government had help the country avoid recession
during 1986 att took 32 billion dlrs in charges from expenses related to reducing its work force by 32000
chatwal said the final figures would be released in about two days
japanese securities houses and banks are eager to enter the market for lead management of mark eurobonds when the ban on japanese institutions is lifted but the entry may be difficult japanese bankers said
uk reserves rise underlying 48 billion dlrs in may 29 billion april official
us officials admitted darmans absence would be an undoubted blow to baker who has relied on him for policy advice both at the white house and in reagans second term at the treasury
the issue is available in denominations of 1000 and 5000 stg and will be listed in london
oper shr 11 cts vs 11 cts oper net 164000 vs 161000 revs 2598000 vs 2241000 nine mths oper shr 28 cts vs 18 cts oper net 419000 vs 276000 revs 6983000 vs 5019000 note net excludes tax loss carryforwards 11876 dlrs vs 83045 dlrs in quarter and 36684 dlrs vs 144590 dlrs
us senate panel votes to limit county loan drop
mannesmann considering majority stake in fichtel
clayton and dubilier inc and senior management of a unit of borg warner corp bor said it will form a new company to buy borg warners industrial products group for about 240 mln dlrs
williams and griggs agreed the fed will let the funds rate be largely market driven
the company today reported a profit of 165600 dlrs for the first half ended january 31 after a 396000 dlr gain on the sale of assets and a 10000 dlr extraordinary loss
baluch said indications were that pakistan is to attain a record cotton production of 76 mln bales compared to the 1985 86 crop of 72 mln bales which also represented the target earlier set by authorities for this years production
best products co inc 4th qtr shr 144 dlrs vs 83 cts
in addition the company said it will ask shareholders to approve proposals to merge the company into its main subsidiary reincorporate in delaware and change the companys name
in a filing with the securities and exchange commission the group said it bought its stake of 20 mln ameritrust common shares for 811 mln dlrs as an investment
1987 3rd qtr and nine months includes 36000 dlrs and 129000 dlrs gains respectively from tax loss carryforward
the bank would immediately resume loan disbursements to peru once it cleared its arrears he said
he declined to project results for the second quarter or year
the may year on year rise was 46 pct compared with a 45 pct rise in april
the louvre accords agreed in paris last february called for stability among the major currencies after a prolonged dollar slide
the marketing year for corn began september 1
in his speech alfonsin said economic integration is the only way for latin america to overcome its current crisis
the loans were cancelled because the projects slated for aid were not implemented properly they said
poor loan demand was illustrated by a rise in commercial bank reserves the official said
early this month dart made an unsolicited offer of 4175 dlrs a share in cash for supermarkets generals stock
pre tax profit for 1986 rose to 1059 mln stg from 796 mln
the central bank made purchases of bank bills outright comprising 120 mln stg in band one at 10 7 8 pct and 315 mln stg in band two at 10 13 16 pct
the pipeline transmits roughly two thirds sour crude and one third sweet crude oil from the midland texas region
banks had also cut credit lines it said in court filings
mulford urged further development of debt equity swaps as well as broader mutual funds for conversion into equity
samjens last week topped a 76 dlr per share offer for burlington from morgan stanley group ms by one dlr per share
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
att philips bid for cgct outlined
the oil reserve fill rate capacity is 100000 barrels a day
nissan motor co ltds 35 billion yen of 5 1 8 pct euroyen bonds due 1992 gained an a2 rating
aar corp air 3rd qtr feb 28 net
it seems from at least their dealing with raider irwin jacobs that they dont want to be taken over
azraai said malaysias public sector deficit had risen due to the contraction in the governments resources as well as the rapid growth in public expenditures
qtrly div eight cts vs eight cts prior pay april 30 record april 8
what we propose is to arrive at a mechanism of refinance for part of the service because we cannot service all that he said
the bonds mature respectively in may 1989 1990 and 1991 and are being syndicated as a package but quoted separately
weather hurts italian oranges usda report
the governors office said the possible action was triggered by a proposal by dayton hudson corp dh which has been the subject of takeover rumors
shr 77 cts vs nil net 417000 vs 1000 nine mths shr 239 dlrs vs 84 cts net 1298000 vs 443000 assets 2907 mln vs 2966 mln note full name of company is home federal savings and loan association of the rockies
new england electric said internally generated funds will cover all of its power plant construction costs this year and 65 pct of the 108 mln dlrs its retail distribution units plan to spend in 1987
commenting on the two week statement period ended february 25 the fed said that banks had average net free reserves of 644 mln dlrs a day down from 134 billion two weeks earlier
oper shr loss 15 cts vs profit 57 cts oper net loss 151000 vs profit 570000 year oper shr profit 208 dlrs vs loss 12 cts oper net profit 2122000 vs loss 127000 note net excludes realized capital loss 19000 dlrs vs gain 896000 dlrs in quarter and gains 1646000 dlrs vs 1331000 dlrs in year
jardine declines comment on hongkong land report
when their exports rise it hits the heart of the us manufacturing base
however the ec commission has said it maintains its proposals for a tax
the net profit figure was reached after receipt of some 68 mln francs from plane sales compared with a mere 17 mln francs in 1985
the world banks annual lending to latin america rose to 48 billion dlrs last year from three billion in 1984 he said
national business loan data are scheduled to be released on friday
you must address this problem on the exchange rate side but it cannot be solved on the exchange rate side alone
ico exporters to modify new proposal
volcker said the challenge was greatest in the education of low income minority groups such as blacks and hispanics
noranda mine seen below full output for months
animed inc vets 1st qtr jan 31 loss
gao underestimated this net loan activity amstutz said
net excludes gains on insurance recovery of 54000 dlrs vs 91000 dlrs in quarter and 1289000 dlrs vs 218000 dlrs in nine mths
utilicorp signed an agreement with cominco ltd of vancouver to extend the deadline to may 31 1987 for completion of the companys purchase of west kootenay power and light of british columbia due to a longer than expected regulatory approval process he said
asked whether opec members of the gulf cooperation council gcc had any concrete proposals to help qatar sell its crude oil in the face of strong resistance to its official prices subroto said apparently they have taken care of that they the gcc meet very often among themselves
such a move would destroy the cohesiveness that gives farm cooperatives an advantage in the market at a time that a few major commercial companies are growing dominant he said
interest will be linked to money and capital market rates and paid on a discount basis with certificates sold below par and maturing at par a bank statement said
the offering would also result in a significant strengthening of the companys capital structure s and p pointed out
bankers said they expect the loan which is available until march 1988 will be drawn down
sources close to the ministry said south african negotiators had worked out a favorable agreement on repayment of 13 billion dlrs of debt after a standstill agreement expires on june 30
c i l added that the final price could be less however depending on an ontario court ruling resulting from a previously reported legal action launched by c i l
maude averaged out the wide swings in the retail sales data over past four months to show that the pace of consumer spending is slowing
there should be a split prime for a while with some posting a 7 1 2 pct rate and others 7 3 4 pct said david jones of aubrey g
swedens sandvik ab svikst and diamant boart sa of belgium in which societe generale de belgique belbbr holds an indirect 52 pct stake have finalised negotiations on merging oil and gas drilling tool activities officials of both companies said
great american management gami 2nd qtr loss
timber realization trx to sell remaining acres
but the committee noted that capacity utilisation had in recent years been above that of the european refining industry on average
the government also today revived a proposal blocked last year by socialist president francois mitterrand to encourage more flexible working hours which it says will boost jobs by improving the competitiveness of french industry
valhi said it has about 117 mln common shares outstanding with about 85 pct held by contran corp
usda reports corn switched to ussr
the us position has if anything hardened while the new brazilian coffee institute president has adopted the least negotiable position of any of his predecessors one trader said
the principle of consensus on which the panels operate was challenged recently when citibank ironically the original architect of the committee system stubbornly refused for a time to endorse financing offers to the philippines and chile
unusual texas instruments txn preferred priced
economists criticised the controls saying they could antagonise washington which is pushing for further economic liberalisation in taiwan
march illinois ex chicago 132 1 2 pct bid 140 offered up 2 1 2 points
promac controls will be part of internatios electrotechnical sector
agreement on the latest loan was reached in principle last september when president corazon aquino visited the us the sources said the loan was held up because of delays by the government in submitting essential documents
first boston corrects that it not mellon is selling the notes to the public
swedish construction and real estate company skanska ab skbsst
the bank will not offer any 26 week notes for tender next week
baker said it believes the merger to be in the best interests of shareholders of both companies
the government does not set money supply targets arguing they are inappropriate to a small economy with major trading and monetary links with much larger trading countries
sama offers a total of 19 billion riyals in 30 91 and 180 day accounts to banks in the kingdom each week
uk money market given 17 mln stg early help
vista organization ltd visa year net
the margin requirement for a may or july position will be 1000 dlrs 750 dlrs original margin plus 250 dlrs spot fee
johnson and johnson said it is operating under a licensing agreement with tate and lyle whose collaborative research with scientists at queen elizabeth college in london led to the discovery of sucralose in 1976
current production of three mln bpd includes oil from the neutral zone shared with kuwait but not sales from floating storage nazer said
the reference price currently 20166 malaysian singapore cts per kilo will be maintained unless between now and october 22 when the 1979 inra expires the average of the daily market indicator price remains above the upper intervention may sell price 231 cts or below the lower intervention may buy price 171 cts for six months
eurofer said in a statement consultants working for it identified scope for closing plants on a voluntary basis to reduce capacity by 1526 mln tonnes a year
the bond is available in denominations of one mln yen and will be listed in luxembourg
to take controlling interest in schlumberger ltds fairchild semiconductor corp the house energy and commerce subcommittee on commerce voted to expand reagans authority to block foreign takeovers of us companies
shr 95 cts vs 80 cts net 574 mln vs 466 mln assets 2839 billion vs 2587 billion loans 1399 billion vs 1435 billion
the soviet union has added 175600 tonnes of us corn to its previous commitments for delivery in the fourth year of the us ussr grain supply agreement which began october 1 1986 the us agriculture department said
in an interview he said that could result in about a 45 pct decline in annual earnings per share
burlington coat factory bcf 2nd qtr net
terms were not disclosed
frn market slumps fixed rate eurobond trade quiet
qtly div 25 cts vs 20 cts prior pay april 21 reord march 27
he also said a more stable and sustainable alignment of exchange rates was needed for long term growth
he said a meeting of the opec differentials committee had been postponed because there is no need for the meeting he did not elaborate
he said it is more important to find ways of encouraging banks to remain in the syndicates than to find ways of enabling them to quit the lending groups
it forecast that imports of goods would grow by a more modest 45 pct in 1987 and 325 pct in 1988 than in 1986 when import prices fell substantially and imports rose by 82 pct
the annual inflation rate rose to 58 pct in june 62 pct in july and 615 and 6188 pct in august and september respectively the national statistics office said
arrivillaga said he wanted to clarify part of a report by a world bank mission that came in march to review the land reform program and which said the bank would not be able to finance compensation payments for the transfer of land
the factors affecting the us currency have not changed since before the paris accord they added
progressive traded today at 442 rainbow at 366 and bil at 430 at the end of morning trading on the new zealand stock exchange
as announced earlier bp also is arranging a us commercial paper program in connection with the tender and part of the revolver will be used to support that program
the federal reserve is likely to add temporary reserves to the banking system this morning by executing system repurchase agreements economists said
ge said it will buy back the notes at par plus accrued interest to but not including may 1
the dollar is now firmly within a broad 140 to 150 yen range chase bank ags senior dealer eckhart hager said
the rating agency said the index has been designed to reflect changes in corporate bond prices as they occur throughout the trading day
whipple here to attend the geneva auto show which opens on thursday said that the ford motor co unit had sold a record 15 million vehicles in europe in 1986
if payments are not set in advance under decoupling market prices conceivably could rise thereby leading to diminished deficiency payments
secondary trading will occur april 15
the federal reserve is unlikely to operate in the us government securities market during its usual intervention period this morning economists said
the dutch central bank announced new eleven day special advances at an unchanged 53 pct to aid money market liquidity covering the period march 9 to 20
john lafalce d ny who said it would help ease the third world debt crisis
linde ag lingf 1986 year
but the new jersey board of public utilities recent rate action will not permit enhancement of key financial indicators
laidlaw transportation ltd ldmfa 2nd qtr net
it said the common stock amounts have taken into account accrued interest on the notes and debentures
they were responding to questions from wright a texas democrat who called the meeting two weeks ago because of his concern the debt crisis was deepening an aide said
uk money market surplus revised to 250 mln stg
some institutions are reportedly concerned about recent events in china including a drive by the chinese media against bourgeois liberalism an official of state owned china international trust and investment corp which has raised funds in hong kong tokyo and frankfurt declined comment on the court decision
united states lines inc has laid off 260 employees almost its entire far east staff its hong kong office general manager elliott burnside told 
i see sumatra has great potential as in the plantation sector in which family units are employed in great number he said according to the agency
bankers said the looming expiry of this commitment coupled with brazils freeze raised a spate of technical and legal questions that the banks want to discuss with gros
inverness buys assets from parent silverton
efhutton lbo also declined comment on the emery offer but said it extended the expiration and withdrawal period on its offer to april six at midnight from today at midnight est
health rehabilitation hrp sets first payout
canada plans one billion dlr bond issue
at the same time simon said us oil production declined by 300000 bpd the first decline in several years and net petroleum imports were up 25 pct to 53 mln bpd noting that while oil prices were expected to remain between 13 and 20 dlrs a barrel depending on opecs ability to control production simon said demand is expected to remain at 1986 levels leading to a significant amount of spare worldwide production capacity in excess of 10 mln bpd he said the surplus capacity would lead to continued volatility and called for governmental and regulatory policies in support of the domestic petroleum industry citing the costs recently imposed by the federal government through the 1986 tax code changes and superfund legislation simon called for the repeal of the windfall profits tax total decontrol of natural gas and improved access to federal lands for oil and gas exploration
bayer said world group pre tax profit rose to 330 billion marks in 1986 exceeding the previous years record of 315 billion
morgan earned 2339 mln dlrs in the first quarter of 1986
record low coupon on sumitomo swiss convertible
woolworth z completing tender offer
although floating paper from better regarded borrowers such as the uk managed to finish the day only around 10 basis points down other sovereigns like sweden and supranationals like eurofima suffered heavier losses frn dealers said
but even if the turnaround did not occur there would be no need to worry about the economy as long as the weakness of exports did not affect currently good domestic demand
horizon financial and horizon funding both are units of victor savings and loan association
great western financial gwf unit buys banks
fed sets two billion dlr customer repurchase fed says
zccm which monopolises copper mining in zambia and accounts for about 90 pct of the countrys foreign exchange earnings made a net loss of 718 mln kwacha in 1986 compared with a net profit of 19 mln kwacha the previous year
on the one hand its probably a cheap price
truck production through the end of march was 403836 vehicles up from 362986 vehicles ford said
canada okays vipont labs vlab toothpaste
ual ual said trump talked with ual chairman
the most recent issue for the state traded today at a yield of 624 pct one bank dealer said
the borrower has a further option to issue also on a non underwritten basis medium term notes with maturities of one to three years it added
insurance group guardian royal exchange plc grexl said it would expand its life assurance business and push further into european markets but that uk underwriting losses remained a heavy drag on profits
replanting is uneconomic and replanted tropical hardwoods have less than a 50 pct chance of survival
turkeys second biggest bank the private turkiye is bankasi announced a profit rise to 35 billion from 323 billion in 1985
diplomatic sources said at todays meeting the spanish delegation also expressed strong reservations about the idea
yen may rise to 140 to the dollar nikkeiren says
southmark owns about 37 pct of pratt hotel
pri pri to buy shell rd hawaii gas stations
brazilian finance minister dilson funaro held separate meetings with french finance minister edouard balladur and bank of france governor jacques de larosiere on the second stage of a european mission to explain his countrys latest debt crisis french officials said
however the hard work is still to come with a couple of years of tough negotiations ahead he said
clabir said the purchase from the sara lee corp sle subsidiary is worht about 28 mln us dlrs
the deal is subject to prior approval by the federal communications commission the company said
opec is scheduled to meet in vienna on june 25 where it will review its current oil price and production policy
okada expects the dollar to trade between 148 and 150 yen this week but sees the chance of a drop to 140 yen by the end of april or early may
a softening of the ec stance would make it more difficult although not impossible for the us to block producer plans
the previous state loan a 625 pct issue due 1998 2002 last month raised a mere 300 mln guilders
1986 data includes extraordinary tax loss carryforward gains of 1185000 dlrs in qtr and six mths
shr 31 cts vs 56 cts net 137 mln vs 252 mln sales 6109 mln vs 5759 mln avg shrs 450 mln vs 448 mln year shr 57 cts vs 146 dlrs net 255 mln vs 649 mln sales 200 billion vs 192 billion avg shrs 450 mln vs 445 mln note current year net both periods includes gain five cts shr from sale of just for kids and giggletree mail order catalogs and charges of 10 cts shr from writedowns of assets related to the closing of linens and domestics stores and leased departments and of leased shoe departments
shr 41 cts vs 80 cts net 403 mln vs 789 mln nine mths shr 158 dlrs vs 240 dlrs net 1550 mln vs 2233 mln avg shrs 98353350 vs 92967487 assets 2748 billion vs 2760 billion loans 2275 billion vs 1900 billion deposits 2145 billion vs 2131 billion
because of the purpose of the facility morgan only had five business days to arrange the facility
zambia copper investments ltd johannesburg march 23 halfyear ended december 31 shr net 53 us cents vs loss 367 pre tax 677000 dlrs vs 857000 net earnings 646000 vs loss 450 mln foreign tax gain 31000 vs 30000 extraordinary items nil vs loss 533 mln period
on the positive side morgan reduced its provision for loan losses to 35 mln dlrs from 70 mln a year earlier
fees for the issue comprise 1 1 4 pct selling concession and 5 8 pct for management and underwriting combined
it suggested that resources idle in the us both human and in underutilised factories were not geared to produce the goods and services sought from abroad
it attributed the decline in new work to more stringent bidding standards and a competitive market
omnicare inc ocr 3rd qtr net
president of international telecom japan inc itj nobuo ito decline to specify what share the firms would take but told they would not participate in its management
the five leading west german economic research institutes said the government should do more to stimulate economic growth and called for early introduction of tax cuts planned for 1990
the company said it has also been advised that it has received fed approvals for its acquisition of heritage bank of camas wash and for its conversion of its subsidiary us thrift and loan of salt lake city utah into a commercial bank
the paper also printed a table showing that since bilateral trade began in 1972 china has had a deficit every year except 1972 and 1977
zenith national insurance znat qtly dividend
but new ideas take time to devise and implement and brazils suspension of interest payments shows that the aptience of debtors might be wearing thin
he said the 21 storey wayfoong plaza was likely to be sold for about 280 mln hk dlrs but declined to identify the buyer
genentech gene says fda to review tpa
kahn said he is considering seeking representation on the trans lux board and starting a proxy contest in connection with the upcoming annual meeting
eurodollar deposit rates in london fell by as much as 9 16 percentage point treasury bill rates fell by as much as half a point after falling between 59 and 84 basis points on monday and the fed funds rate dropped to 7 1 4 pct from mondays average of 761 pct
in addition usda cut the pacific northwest price of hard red spring wheat by 31 cents usda officials who asked not to be identified said
the singapore government has taken over 82 mln dlrs worth of goodwood park hotel ltd shares and loan stock certificates belonging to the companys chairman khoo teck puat banking sources said
group profit after financial income and expenses 731 mln crowns vs 651 mln sales 1015 billion crowns vs 1005 billion profit per share after full taxes 3180 crowns vs 30 crowns proposed dividend 11 crowns vs 10 crowns
gunnar said it and mill city can earn a 50 pct interest in tyranexs option to buy the tyranite gold mine by spending up to five mln dlrs on exploration development and feasibility studies by 1990
it said the record date for the distribution will be delayed until the claims are resolved
the repayment of the funds for the year to end march was in line with details given in the prospectus last year
it is important to enhance the likelihood of home country discoveries with measures such as non discriminatory and stable taxation and minimum regulation together with opening up of acreage for exploration he said
south koreas trade deficit with japan was a record 545 billion dlrs in 1986 and rose to 752 mln dlrs in the first two months of 1987 from 727 mln in the same 1986 period
only nine pct expect output to fall while 47 pct said production would likely remain unchanged
over the next 15 months 85 mln sdrs can be drawn under a standby arrangement in support of the governments economic and financial program
note bonus issue one for five for both a and b shares against two for one
united medical corp said it has reached a definitive agreement to sell its hospital distribution unit to myriad group inc for undisclosed terms with closing expected in the next several weeks
a us senate team was scheduled today to meet kuwaits crown prince and prime minister sheikh saad al abdulla al sabah and the defence and oil ministers
saito called on each g 7 member nation to prepare to intervene in the market strongly enough to ensure exchange rates are stabilised at appropriate levels
the ico executive board meets tomorrow in london
the bank said the trade deficit for the two months widened to an estimated 68 billion baht from 52 billion a year ago
when congress drastically changes laws confusion results and tax preparers benefit bloch said
several lawmakers have argued the new trade bill made too many concessions to reagan and said they intend to back amendments to get tough with countries that violate trade agreements or keep out us products
sri lanka needs the imf and world bank approval of the two facilities to clear the way for negotiations on requests for aid and loans from donor countries
dixons exploring sale of cyclops cyl unit
the fact that it has not happened yet is consistent with historical experience which teaches that domestic markets are not affected until a currency is in the final stages of its decline marris said
although the central bank does not see any imminent risk of inflation there could be some problems in the future he said
the nations 14181 commercial banks had net income of 178 billion dlrs in 1986 down slightly from 1985s record 181 billion dlrs
the 1985 december quarter showed a 13 mln dlr deficit
zimmer jr
the administration opposes any legislation that would tie its hands in votes on the loans
ben and jerrys homemade inc bjic 4th qtr net
bigelow said the company will always have a share buyback program in place whenever it believes it is a better long term investment than starting or acquring a business
the cut takes the anzs prime to the lower end of the range of prime rates being offered by australian trading banks
tradestar tirr acquires image video
that is really a strong rationale why we need a new gatt round he said
currently companies outside the canadian securities industry are prohibited from owning more than 10 pct of a canadian broker
official figures show the latest level compares with the previous record of 51 billion dlrs on march 4 and about 26 billion in late march 1986
its a worthwhile activity from their standpoint because these debts are not going to go away in the next year or two he said
computerland to be acquired by investor group
at last weeks tender the ec commission made an apparent concession by offering a maximum rebate only 13 european currency units ecus per 100 kilos below the level producers say is needed compared with the previous weeks rebate which was 25 ecus below the necessary level
rte corp said it completed the purchase of emhart corps united states aluminum electrolytic capacitor business for an undisclosed sum
a group led by dallas investor harold simmons told the securities and exchange commission it had reduced its stake in mcdermott international inc by one pct to under five pct
federal resources said it will search for additional acquisitions including but not limited to specialty retailers
armco shares trading off 1 4 at 10 today could go to 12 and possibly as high as 15 he said
in 1986 the hughes rig count began the year at 1915 but dived to a post world war ii low of 663 in july as world oil prices experienced the sharpest decline in recent times
the bonus shares will not rank for the final dividend bhp said
us m 1 money supply rises 21 billion dlrs in feb 16 week fed says
continental general cgic sets stock dividend
the institutes said total subsidies including tax preferences had reached 80 billion marks in 1985 and risen further since then
denominations are one mln dlrs
in a speech prepared for delivery in new york to the bank and financial analysts association heller said i believe that increased diversification along geographic and product lines is the key to strengthening the american banking system he said he supported the idea of financial services holding companies advocated by the association of bank holding companies in which regulation of various bank thrift insurance investment securities and real estate subsidiaries would be handled on functional lines
shr 108 dlrs vs 37 cts net 3025000 vs 1188000 sales 352 mln vs 354 mln avg shrs 2794298 vs 3187051 nine mths shr 243 dlrs vs 83 cts net 6781000 vs 2576000 sales 1010 mln vs 997 mln avg shrs 2794298 vs 3115499
the yens 40 pct surge against the dollar over the last two years has frightened foreigners with tales of the 40 dlr melon the 120 dlr taxi ride from the airport and rents of 15000 dlrs a month
mexico buys 51000 tonnes us soybeans
us bill auction rates average 598 608 pct
the strike began at midnight to press demands for higher wages and more funds for the nationalised mining industry
he pointed out principal debtor nations are expected to grow an average 35 pct this year the fastest real rate of growth since 1980
tug crews are preventing the movement of foreign flag container vessels in and out of the ports of sydney melbourne and fremantle shipping sources said
in each case the study found little or no evidence that the factor had any impact on the trade deficit
land around the nuclear plant was contaminated to varying degrees
the company said the moves were part of its reorganization plan and would help pay current operation costs and ensure product delivery
bermuda star line inc said it has agreed in principle to acquire 815 passenger ss liberte from barnstead shipping ltd for use in its new york montreal northeast passages cruises starting this summer
sales of 41800 tonnes of barley were 10 times the previous week and 10 pct greater than the four week average
chile is the worlds leading copper exporter and sales account for just under 50 pct of its export income
bank of china has taken a stake in luxembourg based finance company baii holdings sa a spokesman for baii said
corporate raider carl icahn acknowledged that he is one of the targets of an investigation by the securities and exchange commission into possible violations of securities laws
central banks buy dollars for yen in london
in addition sales of soybeans totaled 68200 tonnes it said
it said malaysias external debt totals 48 to 49 billion malaysian dlrs and its debt service ratio exceeds 20 pct
volvo 1986 result off slightly from 1985
houston metals mine yields positive results
coleman co inc cln 3rd qtr net
rospatch rpch to respond to diagnostic drs 
shr 14 cts vs 12 cts net 1017000 vs 877000 sales 681 mln vs 612 mln nine mths shr 40 cts vs 17 cts net 2986000 vs 1215000 sales 2053 mln vs 174 mln note per share figure reflects two for one stock split of july 1986
the analyst said the bid could be raised by two dlrs a share
salvage work could pinpoint the exact cause of the loss of the ferry one of three sister vessels plying cross channel routes from england to continental europe
the trade balance registered a 35 mln dlr surplus compared with a 56 mln dlr surplus in january 1986
faster test for sickle cell anemia developed
the bank of england said it did not operate in the money market in the morning session
the talks are also part of preparations for a full scale june meeting of the general agreement on tariffs and trade gatt in venice
actual retail sales in the december quarter totalled 617 billion nz dlrs compared with 670 billion in the previous quarter and 610 billion a year ago period
however may developing countries in tropical climates such as sub saharan africa southeast asia and central america are not well adapted for wheat production and improved varieties are not the answer to rising food needs the department said
northeast said it will be entitled to redeem the rights at one cent per right until the occurence of certain events
talking point purolator courier pcc 
disappointment at the lack of progress on quotas forced coffee futures in london and new york to new lows today traders here said
but at a cost of threatening the chancellor of the exchequer nigel lawsons policy stated at the end of the paris group of six meeting last month that he wanted to see sterling broadly stable about then prevailing levels market sources said
shr 40 cts vs 25 cts net 1369602 vs 628193 revs 125 mln vs 4909369 avg shrs 3460217 vs 2610913 year shr 97 cts vs 54 cts net 2952830 vs 1414369 revs 370 mln vs 135 mln avg shr 3031494 vs 2609313 note prior qtr and year per share figures restated for 10 pct stock dividend of december 1986
there was nothing ominous the fed couldnt have waited until the start of the new statement period today
he gave no other details
the rating agency also affirmed consumers powers bb minus preferred stock and b rated preference stock
a british operator is believed to have sold one of the cargoes while an austrian concern is thought to have featured in the second cargo sale they said
commenting on the outcome of a coffee producers meeting in managua last weekend dauster said that they discussed nothing involving the market
1987 nine mths includes pre tax gain 12 mln dlrs on sale of uranium reserves
last month yapi ve kredi bankasi launched the countrys first commercial paper programme for a joint venture chemical firm
kroger kr to buy eight food stores
house agriculture committee chairman kika de la garza has said the committee will consider the glickman proposal
traders expect some followthrough selling in products but said gasoil futures in london will probably lend some support since they are trading as expected
he also said the group had not yet completed taking over a stake in car components firm fichtel und sachs ag mannesmann had said in january it hoped to take a 375 pct stake in fichtel und sachss holding company sachs ag in the first quarter
yet the ecu is now around 1734 yen
joe franklin and assets development to merge
north east insurance co said due to the magnitude of its losses in 1986 and 1985 it may be found in violation of minimum capital and surplus requirements by officials in maine and new york and be subject to sanctions and administrative actions in those and other states
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
share adjusted for three for one stock split and recapitalization in december 1985
this is a civil action in new york and no one here has any proper details yet he added
european community ec delegates said ec consumers accepted the package in a morning meeting and predicted no problems in getting full consumer acceptance
shr 23 cts vs 28 cts net 43 mln vs 51 mln revs 645 mln vs 671 mln note1986 reflects two for one stock split effective july 31
csr said it will announce further details of the offer soon including an alternative offer of csr shares for pioneer sugar stock
their phelps dodge costs are so low they dont need copper prices higher than 70 cts to make a lot of money said vahid fathi of prescott ball and turben inc
oak industries said it will commence an exhcange offer for any or all of certain of its debentures and notes
under the agreement the boeing subsidiary tbc holdings corp will begin the tender offer promptly
diamond shamrock corp which will split this month into two separate companies expects to show improved earnings in 1987 over last year executives of the new company told 
the programmes part of 13 billion dlr supplemental budget request by the reagan administration to restore funds cut earlier by congress must be approved by congress
the company said interest costs from several acquisitions affected results
economic growth seen sluggish in benelux countries
he told reporters the major currency nations are determined to continue their concerted intervention whenever necessary to stave off speculative dollar selling in line with their february 22 currency stability agreement in paris
herrington said he had always advocated a greater fill rate for the petroleum reserve but the rate had been kept down because of budgetary constraints
some 51 billion lira out of the banks 69 billion lira loan portfolio was non performing
colombian group suspends bombings of pipelines
final terms will be fixed on april 15
us trade officials have repeatedly accused japanese microchip makers of violating the pact by continuing to sell at below cost in markets outside japan and the united states
however the congressional budget offices rudolph penner argued that the tax cut in 1981 was misguided
napco npco management cannot raise funding
at the time it said it was reviewing its alternatives
in march the central bank clamped tight restrictions on remittances of foreign exchange by companies and individuals to taiwan in a move to curb inflows of speculative money
it has commitments to export another 658999 tonnes this year
the company said a definitive agreement is expected to be executed by may 15 and the transaction is expected to be completed by year end
fukukawa said the united states had regrettably not listened to japans explanation of its efforts to live up the pact and said washington had not given any detailed explanation of why it planned to impose the tariffs
shamrock said raymond nawara a former executive vice president of dbms a privately held software company also granted it options and voting rights on a major portion of his shares of common stock
the last trade deficit was a 428 mln shortfall in 1982
duriron co inc said it has completed the acquisition of valtek inc for 1175 dlrs per share following valtek shareholder approval yesterday
medchem products inc mdcho 3rd qtr net
payment date is may 28 with the first coupon payment in 1988
la electricidad is seeking permission for a 50 pct increase in industrial and commercial tariffs which officials say would bring in an extra 13 billion bolivars this year
continental corp said the fresh start provision of the tax reform act of 1986 may add 130 to 160 to 1987 earnings per share
the rise in the july september quarter had originally been put at 06 pct
about 800 mln dlrs of the purchases here were in goods of the type south korea normally bought from japan
uspci upc seen rejecting union pacific bid
a company official said it won a 500 mln yen order to deliver 10 sets of casting equipment to venezuelas venalum by end 1987
1986 includes operations of dependable insurance gruop inc
but rafidain bank stopped paying debt due on letters of credit last march and a series of negotiations with banks and western government export credit agencies has been underway
once policy is in place gros said financing talks with the banks are likely to be tough and protracted a sentiment echoed by the countrys creditors
singapore petroleum co revises petrol pump prices
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
conger said a three pct change in gold prices represents a 12 cts a share impact on earnings but he declined to give a specific forecast for 1987s first quarter due to be released in 10 days or for full year 1987 results
the centre repeated its previous forecast that growth in swiss domestic product would slow to 22 pct in 1987 from 25 pct in 1986
asked what it meant for uk monetary policy he said no i do not think there are any immediate implications
ope shr 63 cts vs 80 cts oper net 3169000 vs 3757000 revs 9585000 vs 102 mln avg shrs 5070000 vs 4721000 note net excludes gains from sale of investments of 887000 dlrs vs 304000 dlrs
the ministry said citibank which chairs mexicos bank advisory committee has received cables from the british banks confirming said commitment the ministry said the books on the package would be closed by mid april and the first 35 billion dlrs of the new money should arrive by the end of the month
this compares with 8140 stg last paid when lme trading ceased in october 1985 and a record high tin price of 10350 stg traded for cash standard grade metal in june of that year
bhp net seen around 600 mln dlrs for nine months
these investors who must convert yen into sterling through dollars for british securities purchases appear to be buying in london rather than in tokyo a bond manager for a british securities house said
the 218 page report written by ftc economists john hilke and philip nelson blamed the rising trade shortfall which climbed to a record 1663 billion dlrs last year on shifting currency exchange rates and growing us consumer demand
in a letter this weekend from chancellor helmut kohl to ec executive commission president jacques delors kohl made clear such a dismantling would mainly hit west german farmers
it said the louisiana properties had proven reserves at year end of 11 billion cubic feet of natural gas and 85000 barrels of oil condensate and natural gas liquids
turnover in the coffee business fell to 310 billion francs from 356 billion in 1985 while turnover in the chocolate sector rose to 214 billion francs from 182 billion
at a meeting of the northeast midwest coalition an organization of us legislators david cooke chairman of the ontario parliaments select committee on economic affairs said the exemption would help trade relations
shr 16 cts vs 16 cts prior qtr pay may 15 record april 17
ruding said he was less worried about a crisis of the weakening dollar than he was in january before the paris accord to stabilize foreign exchange rates
in explaining the pricing a salomon official noted that there has been very heavy demand for high coupon usagency mortgage issues such as fannie maes and that the rising price of the collateral must be passed along to investors
one aim had to be to raise the credit standing of debtor countries to such a degree they are able to raise funds on international credit markets again
over the past three weeks swiss offices of american banks have launched a total of four issues of warrants with varying conditions drawing on renewed inflationary worries and the recovery of the gold price last year
note usda says above totals may not match total in reserve numbers
us m 1 money supply falls 600 mln dlrs
bilizerian said he was optimistic his offer will be accepted at a meeting of the board of directors wednesday
witco corp said it is offering 140 mln dlrs of 5 1 2 pct convertible subordinated debentures due 2012 through co managing underwriters smith barney harris upham and co and goldman sachs and co
iran says it intends no threat to gulf shipping
but other analysts said the dispute reflects not just us concern over what it sees as a strategic industry but also frustration with japans vast trade surplus
the bank noted pakistans low educational attainment particularly among women is an obstacle to the countrys development
the company reported a 126 mln dlr loss or 175 dlrs a share in 1986 due largely to a 90 mln dlr restructuring charge and a 40 mln dlr inventory evaluation readjustment taken in the second quarter
suhud said much of the companys 320 billion yen debt had been caused by falling tin prices and the appreciation of the yen against the us dollar
1987 six months includes charge of 115000 dlrs due to reversal of investment tax credits
europeans especially do not have much indigenous oil and gas and realize the tide will eventually turn in favor of the organization of petroleum exporting countries he added
ampal american israel corp aisa year net
when the deal is completed sometime in august the companys revenues will exceed 450 mln dlrs pushing it past microsoft corp mfst as the worlds largest independent software vendor
analyst edward johnson of johnson redbook associates said sales for march rose an unadjusted 25 to 30 pct and a seasonally adjusted 55 pct to six pct compared to an adjusted 57 pct last year
ussr cotton in mln 480 lbs bales 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stocks 276 276 262 262 production 1120 1120 1210 1210 imports 100 100 065 065 domestic use 970 970 960 960 exports 280 280 300 300 end stocks 246 246 276 276 japan cotton in mln 480 lbs bales 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stocks 052 052 061 061 production nil nil nil nil imports 310 310 305 305 domestic use 310 310 315 315 exports nil nil nil nil end stocks 052 052 052 052
better operating results in each of the companys three sectors offset higher interest costs in the first quarter due to financing the december acquisition of sperry aerospace and the sharing of the federal systems subsidiary pre tax profit with honeywell bull inc honeywell said
xuto told the conference both the 1979 agreement and its successor were aimed at meeting the needs of producers and consumers of natural rubber over the long term
1143 vb
treasurys baker supports fed monetary policy
australian government must cut spending anz says
lawson oil tax breaks to help new fields revenue
31 crss had net earnings of 800000 dlrs on revenues of 825 mln dlrs
taiwans strict foreign exchange controls and lack of incentives to invest abroad mean its huge export earnings are mainly deposited in bank savings accounts earning below four pct interest each year
a tre spokesman confirmed that tre since december a unit of aluminum co of america had been contacted by sec investigators and was cooperating with the probe
the package announced earlier this week will raise commercial bank statutory liquidity ratios to 375 pct from 37 pct effective april 25 and will increase cash reserve ratios on foreign currency non resident accounts to 95 pct from three pct effective may 23 it said
arco said the 50 cts increase brings its posted price for west texas intermediate the us benchmark grade to 1900 dlrs a barrel
the syndicate is expected to accept the terms immediately underwriters said
scallop petroleum corp a subsidiary of royal dutch shell group said today it raised contract prices for heavy fuel 25 cts to 175 dlrs a barrel effective today
note dividends payable june 2 books close april 16 to 24
group sells stake in comdata network cdn 
the government has charged that the strike by the miners union crippled by massive layoffs is part of a left wing destabilisation plan to coincide with the visit of west german president richard von weizsaecker who arrives on a four day official tour on friday
shultz was said to be adamantly against the us wheat offer last year and has been reported to be one of the major obstacles in making another subsidy overture to the soviet union grain industry sources said
it stated that its john carr unit benefitted from strong organic growth although overseas its cockburn operation had a difficult period with high maintenance costs and increased depreciation charges
we do not have current plans to make any major adjustments or changes in our pricing said bob sindt usda assistant deputy administrator for commodity operations
siemens will use the printers for office applications and for medium to large mainframes dataproducts said
amvestors financial corp avfc 4th qtr net
i think nakasones desperate said a us bank foreign exchange manager
winds today will be southwest at 30 to 60 mph but will become west to northwest tonight and saturday at 25 to 50 mph
the staff of the federal securities and exchange commission sec plans to recommend that the washington public power supply system wppss be charged with securities fraud in connection with its july 1983 default on 225 billion dlrs of bonds a wppss official told 
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
alexanders alx 2nd qtr feb 7
to solve this problem and to streamline the cumbersome negotiating process argentina has revived the idea of exit bonds which would be issued at a discount to small creditors in exchange for their existing debt bankers said
national capitals are due to be reimbursed later out of savings from another plan to curb milk production
wonnacott said bilateral free trade would contribute to the efficiency of the north american economies and to their competitiveness in facing overseas producers
first city said it is seeking to increase shareholder values by improving and realizing the values inherent in its operating subsidiaries
den norske stats oljeselskap a s statoil statol operator on norways north sea veslefrikk oil field has placed field development contracts totalling 15 billion crowns with two domestic yards the company said in a statement
next week 100 mln stg of treasury bills will be offered replacing 100 mln stg of maturities
the utility said terms would be set at the time of sale
dealers said there were widespread rumours that the us federal reserve telephoned some banks in new york to ask for quotes last wednesday and even intervened to sell the dollar when it rose to 187 marks
major increases were for belgium south korea mexico and italy it said
southmark corp said it acquired berg ventures inc which manages 84 apartment complexes with over 18000 units and 12 shopping centers stretching from new jersey to florida that are controlled or affiliated with berg harmon associates
french operators have requested licences to export 320000 tonnes of free market barley 225000 tonnes of maize 25000 tonnes of free market bread making wheat and 20000 tonnes of feed wheat at todays ec tender trade sources said
shr 78 cts vs 86 cts net 2650 mln vs 2830 mln revs 37 billion vs 36 billion avg shrs 3290 mln vs 3190 mln
he said the united states should also threaten to mine and blockade iran if it continued fighting and must press iraq to acknowledge responsibility for starting the war as part of a settlement
originally the margin was set at 625 basis points for up to 50 mln dlrs and at 25 basis points for the remainder
the bond guaranteed by the state will carry warrants exchangeable for variable rate bonds with interest based on the average monthly yield of long term state bonds tme denominations are of 5000 francs nominal and the first coupon of 455 francs will be paid on march 23 1988
ended sept 30 shr 22 cts vs 18 cts net 4127000 vs 3177000 sales 702 mln vs 486 mln note share adjusted for july 1987 two for one stock split
a bank spokesman said the previously reported call by the canadian parliaments finance committee on march 20 for a substantial cut in credit card rates was a factor in the move but he would not elaborate
uk money market deficit forecast at 700 mln stg
he called the 25 dlr offer by mark iv fair value but on the low side i dont think management was looking for a buyer in any way before this offer he said
until last year zaire devoted up to 28 pct of its export revenue to servicing large foreign debts contracted during the copper boom of the 1970s to finance largely non productive and often extravagant investment projects
he added the executive commission has not yet decided whether the scheme should become a permanent feature of the ecs struggle to find a use for its massive stocks of farm produce
sri lanka postpones eep wheat tender trade
philippine debt talks delayed for consultations
the bank of england said it gave the money market assistance worth 106 mln stg this afternoon buying bank bills at the rates established on monday
canadas trade picture has brightened considerably underscoring economists predictions the sector would post a long awaited recovery this year
crude traditionally accounts for up to two thirds of ecuadors exports
argentinas prime objective in renegotiating the debt was to maintain growth which has been targeted at four pct in 1987 baglini said
pacific lighting plt considers unit sale
the office of technology assessment a nonpartisan arm of congress told a house ways and means trade subcommittee hearing there was still concern for the future of parts of the us textile and apparel industry but there was more reason for optimism than a few years ago
the rally in cattle also boosted values of live hogs and frozen pork bellies which also were supported by indications that producers were expanding their hog herds at a slower rate than previously expected
oil production totalled 176 mln cubic metres last month and natural gas production 102 mln cubic metres down from 195 and 115 mln cubic metres in january respectively
a spokesman for cable said he was unaware if the speculation had any foundation
the sec has a long standing policy against confirming or denying the existence of investigations
convergent technologies inc said it expects to report in the first quarter a loss more than twice the size of the 48 mln dlr loss reported in the fourth quarter of 1986
shareholders also approved increasing the number of shares reserved for options to employees to 300000 from 150000
we have been somewhat disappointed in the results so far but we intend to continue these discussions he said
both bonds will in principle be redeemable at par on april 21 1999
bwa advised shareholders to ignore the offer and said other parties had expressed interest in bidding for it
corrected federal paper board co fbo payout
but he also said the us must reduce the list of products of a nontechnological nature thereby allowing manufacturers to increase exports and jobs
i want to be sure this institution is viewed by those who must support it as soundly constituted so that it will be permitted to grow conable said
the drop in may to a seasonally adjusted annual rate of 616000 units was the largest since january 1982 the commerce department said
the company said the move reflects lower material costs streamlined production processes and reduced manufacturing costs
nuis major subsidiary is utility elizabethtown gas
cyprus which produces talc said it has significant factual and legal defenses and substantial insurance coverage and does not expect the suits to have a material adverse impact on its financial condition
we recognize a good deal must be a fair deal one that is fair to both sides mulroney said
the philippines has said it was badly hit by a cut in its quota to 143780 short tons from 231660 in 1986
net excludes discontinued amusement game operations gains 144095 dlrs vs 70194 dlrs in quarter and loss 2952814 dlrs vs gain 196872 dlrs in nine mths
oppenheimer the brokerage and investment subsidiary of oppenheimer group inc told the securities and exchange commission it has acquired 243400 shares of cyclops corp or 60 pct of the total outstanding
grand metropolitan plc unit to sell business
maize deliveries to zimbabwes state owned grain marketing board gmb will fall by over 65 pct this year following a prolonged dry spell agricultural industry sources said
they noted that banks historically like to follow fed rate movements rather than lead them
it said the two year bonds will offer a floating interest rate which will not be less than 17 pct in new zealand dollars
he would not specify the amount of the write off
murphy oil said it proposing to acquire remaining 23 pct of canadian subsidiary
the fourth quarter current account showed a deficit for the first time since 1980 of 700 mln guilders it said
the company said vernells had sales of around 30 mln dlrs in the year ended in august 1986
he said the first quarter results are in line with those expectations
imports of colombian coffee were 2169 tonnes 3025 in january 1986 brazilian 483 3715 indonesian 455 145 guatemalan 196 126 cameroun 464 560 and ivory coast 353 839
smithkline beckman corp said it is pursuing a three point stragey that will achieve a 10 pct annual increase in operating earnings throughout the remainder of the decade
in a filing with the securities and exchange commission spear leeds said it bought the stake for 117 mln dlrs as part of its normal trading activities
us bank discount borrowings average 148 mln dlrs a day in march 11 week fed says
i think the president would rather wait till the new congress convenes after the may elections he said
it also reported fourth quarter net of 438 mln dlrs or 73 cts a share versus 365 mln dlrs or 60 cts a share in 1985s fourth quarter
marine midland bank cuts prime rate to 925 pct from 975 pct effective immediately
morgan guaranty sells first repackaged perpetual
the agency said beneficials consumer finance business remains strong and has the capacity to withstand foreseeable adverse developments
home savings durham hsld sets stock dividend
anything is possible at this phase even adjournment of the meeting until march or april one said
the company said the transaction is subject to execution of definitive agreements the receipt of fairness opinions from investment banks and approval by boards and shareholders of both companies
cardenas sees no major decisions at ico meeting
they dont have the same kind of money they used to have they find their whole deposit base eroding fernandez said
april illinois river ex chicago 160 pct bid offered 10 points higher at 170
some consumers would rather the buffer stock manager be able to buy non member cocoa also and pay a single price for the buffer stock cocoa without respect to origin
although two of mhis main businesses shipbuilding and power plant construction have been hit hard by the yens 40 pct rise against the dollar the company has no plans to abandon them iida told in an interview
dollar final dividend will be determined by sterling dollar exchange rate may 18
there was no rainfall in the same period in la pampa
in particular he urged the banks to develop a menu of options for supporting debtor reforms as a means of maintaining broad bank participation in new financing packages mulford said the banks should be able to offer a range of options to members of the lending syndicates provided that the liquidity value of the total transactions to the debtor nations is equivalent to the banks new money obligation
canadian 1986 87 coarse grain production is projected at 2762 mln tonnes vs 2762 mln tonnes last month
the official 1987 88 estimate is 29 pct
higher us interest rates would merely raise their interest payment burden and depress us stock and bond markets further the monetary officials said
the new policy was announced some three months after the government suspended import licences and ordered an inquiry into tea purchase policy
sl industries inc sl 2nd qtr jan 31 net
ship prepares to load wheat for fiji at geelong
a 1 plus commercial paper was affirmed
chairman robert mercer said heavy restructuring costs related to the takeover attempt combined with government tax incentives for investments resulted in this federal tax refund the refund was included but not broken out in its initial 1986 results a spokesman said
also excludes extraordinary gain of one ct per share in fourth quarter 1985 and gain of one ct per share vs one ct in the full year period
manufacturers national mntl unit lifts rate
asked about retaliation she said sometimes its better not to be specific us trade representative clayton yeutter monday warned another major transatlantic trade row will develop if the ec proceeds with the vegetable oils tax
observers in the capital expressed disillusionment with the small extent of the price cuts which ranged up to 10 pct on items such as blankets soap detergents and baby food
its a faster way to get the job done than using interest rates and avoids unpleasant effects on other areas of the economy it shows that the political will is very strong
dome said in the filing that its debt plan proposes making payments under a five year income debenture to the lender whose debt is secured by domes encor shares
they ignore for example the relative volatility of the particular currencies involved in exchange rate contracts
pearson reported 1986 pre tax profit of 1211 mln stg up from 1093 mln in 1985
sales 161 billion vs 151 billion
pet
cocoa deal seen positive but no price guarantee
bionomic sciences international inc said it expects to start operating profitably by the fourth quarter
gelco corp said that excluding the effects of a restructuring plan it expects pre tax operating earnings for the year to end july 31 1987 to be about the same as those of last year
under the pact diceon would exchange 300000 shares of its stock for all of symtrons shares
versar inc a technical environmental services company said it will release an announcement this afternoon concerning the company
the measure will take effect tomorrow following the publication of the decree in todays official gazette
this is being done to reduce the costs of liability insurance
gmacs mangan said his firm also wanted to sell securities that were aimed at the retail sector
prospects of higher operating costs were also seen harming earnings he said
the document was prepared by a private committee formed by prime minister yasuhiro nakasone and led by former bank of japan head haruo maekawa
group shr 3599 yen vs 3828 net 2101 billion vs 2108 billion current 4773 billion vs 4806 billion operating 5504 billion vs 5499 billion sales 79271 billion vs 86428 billion note company forecast for current year is group shr 3770 yen net 22 billion current 52 billion and sales 800 billion
if the inter monsoonal rains expected in late march april are delayed we would have further shortages one official said
between 1982 and 1985 riyad bank ncbs rival as the second biggest of the two all saudi shareholding banks had covered 128 pct of its loans and advances
my relationship with the hong kong bank is wonderful
geonex said southern bell will let cas continue work in progress and it expects to perform mechanized posting and records conversion for southern bell through 1989
payment date is april 20 and redemption will be in 12 equal annual instalments starting after the first three years of the issues life
marc cohen of republic national bank of new york said the market now has the impetus to drive the dollar lower again the dollar hovered between 14550 and 147 yen in the days just before the talks
qtly div seven cts vs seven cts prior payable april 28 record april three
the shake up would strengthen the us position in future international talks
shr 36 cts vs 35 cts net 7100000 vs 8000000 net premiums 612 mln vs 580 mln avg shrs 19950000 vs 22760000 nine mths shr 103 dlrs vs 181 dlrs net 213 mln vs 378 mln net premiums 1763 mln vs 1418 mln avg shrs 20682000 vs 20920000
of the kingdoms nine joint venture banks which operate on the gregorian calendar year four have already reported and revealed a further profits decline or net loss for 1986 at the expense of increased provisions
tonka corp said it expects results for its fiscal first quarter to end april four to decline from the record earnings of 38 mln dlrs or 57 cts a share and revenues of 532 mln dlrs
salant today reported earnings for the year ended november 29 of 1596000 dlrs after a 1600000 dlr pretax provision for loss on the sale of a subsidiary but before a 9400000 dlr post tax charge attributable to costs and expenses of chapter 11 and the settlement of pre chapter 11 claims as well as a 2712000 dlr tax credit
southwest bancorp swb 3rd qtr loss
yugoslavia to tender for 100000 tonnes wheat
legal and general group 1986 pre tax profit 832 mln stg vs 315 mln
company officials were not immediately available for comment
they are guaranteed by news corp ltd
standard and poors corp said that general motors corps planned five billion dlr stock repurchase would not affect the carmakers debt ratings
the mill produces softwood kraft pulp which is sold to other champion facilities and on the open market
ccl industries inc said it purchased a majority interest in monobloc usa from envases metalurgicos de alava of spain
us intervened to buy 50 mln dlrs against yen on january 28 fed says
the ec policy is to offer export rebates which fail to give producers an equivalent price to that which they would get by offering sugar into intervention stocks vernes said
finance minister barend du plessis said the reserve bank was investigating the implications of such conversions in light of terms and restrictions of the financial rand system du plessis in disclosing the new agreement last night said the recent sharp rise in the financial rand was an example that some foreign investors are again taking a more realistic view of south africa terms of the debt agreement call for south africa to repay 142 billion dlrs of 13 billion dlrs of frozen debt over the next three years
the program that the new funding supports is designed to continue the adjustment and restructuring effort so as to achieve sustained growth a lower rate of inflation and a balance of payments viability in the medium term
the spokeswoman said the company posted an after tax profit of more than one billion dlrs last year on total revenues of 2046 billion compared to an after tax profit of 118 billion on revenues of 1799 billion in 1985
economist urges more taxes to lower nz dollar
the decline in intended soybean acreage and lower stocks are the first report weve had for a long time that shows any optimism for anybody said john bud frazier grain analyst and executive vice president for balfour maclaine inc
all were in the mid 90s friday
japan buys 8000 tonnes of canadian rapeseed
for example conoco inc a dupont dd subsidiary will spend 400 mln dlrs to build the gulf of mexicos deepest production platform which will produce 50 mln cubic feet of gas per day
the us attack on irans oil platforms jeopardises our national sovereignty and we will retaliate properly for this perfidious american aggression mousavi told a news conference in damascus
a year earlier it earned 911000 dlrs
the lack of a new debate on export quotas here this week was cited as the reason for renewed weakness in coffee prices in london and new york futures traders said
nicor inc gas regular dividend set
but inflation appears to be heading higher partly due to the lower dollar with consumer prices forecast to rise four pct this year and 45 pct next year after just 21 pct in 1986
a company spokeswoman said the payable date for the split has not yet been fixed but would be shortly after the record date
swedish industrial production falls in january
physio technology said the resignation of chairman james c
gm to repuchase up to 20 pct of 166 dlr par value common by end of 1990
ohio mattress co omt offeing of 75 mln dlrs of convertible subordinated debentures due 2012 through lazard freres and co
the well also flows natural gas at the rate of 12 mln standard cubic feet a day he added
swire pacific ltd swpchkg year 1986
i dont think these average earnings numbers are a major problem agreed chase manhattans marshall
full year us dollar figures are sum of sterling translations to us dollars for first second third and fourth quarters net includes fifo inventory gain 217 mln dlrs vs loss 80 mln dlrs in quarter and loss 123 billion dlrs vs loss 178 mln dlrs in year
michael foods inc initial public offering of two mln shares of common stock at an estimated 13 to 15 dlrs a share through an underwriting group led by william blair and co
resdel rsdlo to merge with san bar sbaro 
the company said europe craft had sales of 70 mln dlrs last year
nazer is believed to be reviewing saudi oil operations which could lead to a thorough overhaul in the way saudi arabia does business the sources said
the sources said it was too early to give details of the planned split or of the share price but cited april 27 as a likely date for the flotation launch
but firmer oil prices since then have brought some stability to the economy and helped narrow the foreign trade deficit
perus catches differ regionally and stocks are low
shr profit 20 cts vs loss three cts net profit 849299 vs loss 82512 revs 7929138 vs 3849224
mtech mtch has 33467 commercial shares
but he declined to comment on what he believed to be an appropriate level of the dollar in world markets
total export authorisations for the 1985 86 campaign 42 weeks now stand at 2076620 tonnes
rose said however he could not really predict what heyman would do
she said the surplus of 597 mln pesos compared with a deficit of 390 mln pesos a month earlier and a deficit of 164 billion at the end of 1985 reflected political uncertainty in the last quarter of 1986
bsn said its position is less than the five pct ownership which would require specific disclosure
the issue pays four pct and is priced at par
the coniston group said it expects to make a further announcement today on its plans for allegis
his remarks were made at the national petroleum refiners association
gaf chairman samuel heyman estimated that the us chemical industry would report a 20 pct gain in profits during 1987
uk portfolio investment is also returning while foreign buyers see uk growth propects and high bond yields as attractive
tribune co trb 3rd qtr net
pennwalt corp said it has agreed in principle to acquire a line of fungicides insecticides and herbicidesand related manufacturing facilities from le raffineries de soufre reunies of marseilles for undisclosed terms subject to approval by bothe boards and government authorities
multifoods is asking bregmans group to divest its shares in open market sales in a manner not to further disrupt the market place according to the suit
an ec decision to impose tariffs on gulf petrochemical exports over a set quota has strained trade relations between the two sides
the office said leading indicators still do not show a consistent picture of the likely future developments of the business cycle in britain
it said eight of the nine holes drilled there have an average grade of 0046 ounce of gold and 21 ounces of silver per ton
the company said its stock price will be adjusted to reflect the split on april 21
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
the payment date april 9 1987
but other dealers said they doubted the efficacy of central bank intervention saying it may stimulate the dollars decline because many dealers are likely to await such dollar buying intervention as a chance to sell dollars
3tandard and poors yesterday lowered the rating on danish long term external debt to aa from aa plus saying denmark was less competitive with rising labour costs and this would worsen the external account deficit and increase external debt
goodyear tire and rubber co said it will receive about 588 mln dlrs in cash from loral corp lor for the business of goodyear aerospace corp
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
the new figures bring cumulative wheat exports for the period july 1 february 13 to 299 mln tonnes and barley to 296 mln compared with 125 and 189 mln tonnes respectively a year ago
but they said recent central bank intervention in the foreign exchange markets appeared to be a limited reaction to temporary pressures rather than a major defence operation
in the first nine months of this year industrial output rose by 36 pct
there are also large pockets of high quality condensates to be produced notably in the juha field near iagifu which is capable of producing 30000 to 40000 bpd he said
harris associates lp a chicago investment advisory limited partnership said it lowered its stake in bell industries inc to 1015800 shares or 187 pct of the total outstanding from 1083800 shares or 200 pct
manufacturing output rose 05 pct in february after a 01 pct increase in january and included gains of 08 pct in durables and 01 pct in non durables the fed said
bf goodrich gr canada studies plant
trading in hayes common will cease at the close of business today the company said
the bank of england again fought against money and bond market pressure for a pre budget interest rate cut leaving the pound to take the strain with a further rise in its trade weighted index to a six month high
treasury figures show that the underlying change in british reserves seen as a guide to possible bank of england intervention on foreign exchange markets suggest that the authorities sold around 10 billion dlrs during september and october 1986 government sources said
noting the often different reactions of us japanese and european banks funaro told journalists that brazil might adopt an approach involving separate discussions with the regions
wilson brothers said it completed the sale of most of the assets of its enro shirt co inc enro at ease inc and foxcroft shirt ltd subsidiaries to enro acquisition corp for about 242 mln dlrs half in cash and half in subordinated promissory notes
the central bank started to intervene shortly after the market opened here in the afternoon the dealers said
he said the company now has 4700 specialty stores operating under 30 different names
cp air always fighting for market share rather than profits was a perennial money loser analyst wilfred hahn of bache securities inc said in a recent report
sales of durable goods rose in february by 88 pct to 4672 billion dlrs after dropping by 177 pct in january
defense secretary caspar weinberger said on saturday the attack on a us flagged ship in kuwaiti waters on friday was almost certainly by an iran silkworm missile
japan unemployment rises to record 32 pct in may
cambridge shopping centres ltd said wholly owned cambridge leaseholds ltd privately sold 100 mln dlrs of secured debentures
shr loss 56 cts vs loss five cts net loss 19 mln vs loss 164000 revs 69 mln vs 54 mln year shr loss 115 dlrs vs profit 52 cts net loss 38 mln vs profit 17 mln revs 256 mln vs 298 mln note 1987 net loss includes loss 65 mln dlrs for nonrecurring reserve for closing costs of facility writeoffs and sales of real estate
under the program credit terms extended must be in excess of three yeras but not more than seven years
product futures which fell sharply yesterday are due to open unchanged to 025 cent lower traders said
the soviet union recently reported that nine mln hectares of winter grain will have to be reseeded due to winterkill
but most delegates and traders said quotas before october are unlikely while brazils dauster noted the ico has continued although there were no quotas from 1972 to 1980
my feeling is that it february borrowed some of the business we normally see later in the quarter and the real strength of general merchandise sales will be in the second half of 1987 said bear stearns and co analyst monroe greenstein
at its annual meeting fortune said shareholders also voted to change fortunes name to tigera inc
recently the columbia gas system inc pipeline subsidiary said ferc denied on procedural grounds and without prejudice a proposal to include these costs in the companys most recent purchased gas adjustment or pga filing
the engineering employers association gesamtmetall is offering to bring in a 38 hour week from july 1 1988 and give a two stage wage increase a 27 pct rise from april 1 this year and another 15 pct from july 1 1988
there is a put option after seven years which will be priced to give the investor a yield to the put of 7 1 4 to 7 3 4 pct
for the nine months ended december 31 bpi lost 1286000 dlrs on sales of 6452000 dlrs
bat industries plc btil 1986 results which were at the upper end of market expectations showed the company was in a strong position and that its shares were probably undervalued share analysts said
uk money market offered early assistance
it expects share earnings to rise to 469p from 387p and to 512p in 1987 88 and the 1986 87 dividend to be 170p net a 416 pct increase
i had one of these guys tell me he makes six seven mln dlrs a year and didnt know what to do with all his money says cole
the government forecasts annual inflation will be 40 pct at the end of 1987
the proposal had little chance of approval by ec governments with west germany as strongly opposed to it as britain and denmark the netherlands and portugal also unconvinced of its political or economic wisdom
he stressed that the public sector debt bonds will not be exchanged for shares of stock in state owned companies
he did not disclose the offered price
the ministry had originally estimated that industrial production fell 30 pct in january
the prince met vice president george bush on monday after us naval forces attacked offshore iranian oil platforms in what washington said was retaliation for an iranian attack on a ship moored off kuwait and flying the us flag
shr loss 1922 dlrs vs loss 390 dlrs net loss 2764 mln vs loss 456 mln revs 854 mln vs 1133 mln note shr results after deducting preferred share dividends of 131 mln dlrs in both periods
soybean meal futures have also steadily declined in recent weeks setting a new contract low of 13970 dlrs per ton in the nearby march contract today
the payment date is may 20
they speculated he may be one of the shareholders in talks with the bass group
brunswick corp is raising 100 mln dlrs through an offering of notes due 1997 yielding 8199 pct lead manager shearson lehman brothers inc said
the system calls on the agency to buy beef from trading houses and simultaneously sell it to users in one tender
china raises crop prices to increase output
it can therefore use its funds to make acquisitions
a total of 1461 billion dlrs of bonds maturing on april 20 will be retired with excess cash and internally generated funds
the strikes in brazil come as the government is trying to extricate itself from a serious debt crisis brought on by a deterioration in its trade balance
the name of the corporation will be changed to scan graphics inc and its borad of directors will be composed of individuals now on the scan graphics board
the high level of activity on the capital and equities markets in 1986 contributed to a sharp improvement in hongkong bank subsidiaries wardley ltd waiahk and james capel and co analysts said
turkeys central bank set a lira dollar rate for april 3 of 78250 78641 to the dollar down from 78000 78390
borden said the divestment of two producers of toy models and hobby items heller in france and humbrol in england is in process
at end of 1987 and 1986 nine mth period average shares were 1725 mln and 1759 respectively after deducting for preferred stock dividends
the new loan will enable punta to pay off 104 mln dlrs of indebtedness to another lender and provide it with working capital
the higher transportation costs have served to depress interior corn basis levels squeezing the margins obtained by the elevators feeding the gulf export market as well as discouraging farmer marketings they said
merrill lynch capital markets said it received a mandate from industrial equity ltd iel of australia to arrange a letter of credit facility in support of 100 mln dlrs of medium term notes and us commercial paper to be sold in the us domestic market
but the yens strength which has also raised the costs of japans exports and allowed its asian neighbours to move into its traditional markets has frozen japanese corporate growth the specialists said
saatchi and saatchi shares rose one pence on the cleveland announcement to 885p after yesterdays 870p close
central and south west corp said it southwestern electric power co subsidiary will redeem all 300000 shares outstanding of its 816 pct preferred stock par value 100 dlrs per share on may one
specific demand has been directed towards metal in gothenburg and trieste warehouses
they are trying to make sure that no one discounts and to prevent that it appears that saudi arabia or some other opec member will allocate some of their oil sales to help members that lose sales margoshes said
we certainly really have not found an effective means of turning this disease around said rep
gillette says revlon asked its board to consent to 4050 dlrs per share offer
american express co rumored to be considering a spinoff of part of shearson lehman brothers inc said it is studying a range of options for its brokerage unit that could improve shearons access to capital and help it meet broadening international competition
it will redeem the 12 3 4s at 11052 pct of principal plus accrued interest
that was up from 2507000 the previous week
the rate at which permits were issued for future building climbed 44 pct to a seasonally adjusted annual rate of 1764 mln units after dropping 1152 pct to 1690 mln in january
mark iv industries inc iv which has said it is mulling a bid to seek control of baird corp said it has no present plans to acquire more than 25 pct of the companys total outstanding common stock
a statistics office statement said the widening of the february current account surplus compared with january was due to seasonal factors
bennett said west germany britain the netherlands denmark and portugal oppose the tax but italy and belgium seem to have taken a hardline view on the issue
chiyoda is japans eighth largest non life insurer
lawson happy with sterling backs latest rate cut
the ministry will soon release its supply demand guidelines for the second quarter and suggested production volumes are likely to be lower than that for the first quarter he said
under the three year evergreen facility which can be extended annually notes will be issued by its subsidiaries goodman fielder new zealand ltd and goodman fielder industries ltd and guaranteed by the parent company
the united states and canada the worlds two biggest trading partners with cross border shipments of about 150 billion dlrs a year opened free trade talks last june
hi shear industries inc hsi sets payout
there has been speculation in trade circles that usda would offer india subsidized vegetable oil under the export enhancement program and donate surplus corn under section 419 of an amended 1949 law
us export inspections in thous bushels soybeans 13417 wheat 12003 corn 27623
it said the transactions together with acquisitions earlier this year will increase its annual sales by about 45 mln dlrs
the department said no domestic poultry are involved in the outbreak
the bank said it is making a 70 mln dlr loan to help fund a 2578 mln dlr project designed to meet its future power needs
the state guaranteed five year bond pays 4 3 8 pct and was priced at 101 1 2 pct
the ministry said trade measured on balance of payments criteria showed an unadjusted 71 billion franc january deficit while services showed a 37 billion surplus
emhart corp emh qtly dividend
stanley interiors sthf to sell convertibles
india has targeted to produce between 178 and 183 mln tonnes of foodgrains by the last year of the seventh five year development plan ending march 31 1990
the warrants are exercisable at par value currently 10 cts per share until march 20 1997
pre tax profit 400 mln stg vs 380 mln
the china daily said the first two soviet ships to be repaired in china since 1964 left the ports of dalian and xingang last month
sosnoff said under the merger that would follow his tender each of the 2750000 caesars shares not covered by the offer or 76 pct on a fully diluted basis would be converted into series a preferred stock valued at 32 dlrs per shareby an independent investment baking firm
they said the airlines performance improved in the second half of the year after it reported interim profits of 503 mln dlrs
ekonomicheskaya gazeta said labour productivity targets were also not fulfilled but did not give figures
but a desire on both sides to find some solution coupled with uncertainty at home and abroad over likely successors to nakasone could still lead to an attempt to paper over the differences and aid nakasone they said
inertia dynamics corp trim 2nd qtr feb 28 net
modern controls inc mocon 4th qtr net
the dollar has hovered around 153 yen since the six agreed to cooperate to bring about currency stability
oper shr loss 11 cts vs profit 33 cts oper net loss 132000 vs profit 408000 revs 252 mln vs 230 mln note 1986 and 1985 oper net excludes a loss of 636000 dlrs or 52 cts per share and a loss of 994000 dlrs or 80 cts per share for discontinued operations
data translation inc datx 1st qtr feb 28 net
a facsimile machine sends printed data over telephone lines while a key telephone system is used for switching calls within a business industry sources said
the spokesman said chrysler officials in detroit had already visited lamborghinis production plant in bologna and another visit may be scheduled
tolland bank fsb tobko 2nd qtr net
kuwaits oil minister in remarks published today said there were no plans for an emergency opec meeting to review oil policies after recent weakness in world oil prices
also key to debt futures direction in addition to the federal funds rate is the direction of crude oil prices said carroll mcentee and mcginley futures analyst brian singer
industry sources said japans lpg imports will not greatly rise or fall as its domestic demand growth is estimated at a moderate 21 pct a year from 1986 through 1991
stoltenberg does not rule out central bank intervention to stabilize currencies
deak international buys johnson matthey
the loan is part of a 265 mln dlr project to improve production of commodities mainly rice and raise farmer incomes
cohen also noted that todays silver price break through six dlrs an ounce indicates small investors are entering the precious metals market and he expects the ratio between gold and silver prices to narrow
but they are to be allowed to enter the business soon as the european community begins to harmonize rules governing funds
george wimpey profits up 42 pct to 665 mln stg
shr 17 cts vs 20 cts net 3121000 vs 3624000 revs 602 mln vs 590 mln avg shrs 183 mln vs 182 mln six mths shr 40 cts vs 48 cts net 7429000 vs 8743000 revs 1247 mln vs 1261 mln avg shrs 183 mln vs 181 mln
goldberg acting on behalf of a group of investors that the group had accumulated 1262200 shares or about 67 pct of clarks outstanding common stock
the tankoku mature on september 21 1987
eli lilly and co said its board approved a plan to buy up to 23 mln shares of its common stock to offset dilution from conversion of its 10 year notes issued in connection with the acquisition of hybritech inc in march 1986
iel has mandated merrill lynch capital markets to arrange a letter of credit loc facility in support of the notes and commercial paper making this the first facility of its kind the company said in a statement
chirac said france would make public its reasons for awarding control the sources said
this meeting will be the first here since brazils unilateral suspension of interest payments on 68 billion dlrs of commercial bank debt on february 20
the 315695 dwt arabian sea had set sail on tuesday after loading oil at the saudi port of ras tannurah
shr 33 cts vs 13 cts net 2272000 vs 880000 revs 6399000 vs 5912000 chainwide sales 1420 mln vs 1267 mln nine mths shr 107 dlrs vs 44 cts net 7369000 vs 2868000 revs 191 mln vs 161 mln chainwide sales 4029 mln vs 3571 mln avg shrs 6918000 vs 6569000
the banks merged on march 16 and have combined assets of about 14 billion dlrs
stewart warner corp stx 4th qtr loss
it is payable june eight record may 21
uk intervention bd says ec sold 60500 tonnes white sugar at rebate 44819 ecus
bankers had hoped that this time they could secure an even larger repayment of around one billion dlrs
french farmers plan to cut maize plantings
mfs municipal income trust mfm sets payout
a cocoa withholding scheme can take a further 120000 tonnes of cocoa off the market if a special council session decides market conditions warrant it according to the agreement
the mine now produces gold at over 50000 ounces a year
some analysts believe the new officially fixed exchange rate of eight kwacha to the dollar will hit zccms export profits
american motors has challenged the award
napco international inc said it has suspended its plan to sell its international business to a group of that business top managers because the group has failed to obtain satisfactory financing
calls for a rescheduling of the debt have come this week from the opposition conservative party and the biggest trade union following the coffee price drop
the 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
that year a tiny car from overseas germanys volkswagen beatle began to gain popularity
the bank canadas fourth largest said it expected its listing to occur later this year
but volcker has warned that a further fall in the dollars value is fraught with danger
gillette rose three to 40 today following a gain of three yesterday
it did not specify arthurs jones 1986 revenues
new crop wheat plantings are expected to decline parana accounts for about 60 pct of total production
investors will pay for the bond on april 15 and the bond pays annual interest on the same day
strenger said 1986 operating profits of german chemical firms were slightly worse than the year before but the improved financial and balance sheet structure after three good years neutralized the negative impact
japan march money supply rises 90 pct
some see crude stock levels unchanged to three mln barrels higher while others think inventories could be as much as five mln barrels below the previous week
the non callable bond is guaranteed by hertz corp
on march 31 the money market expects to see a 2000 billion yen surplus resulting from government payment of fiscal funds money traders said
opec may be forced to meet before a scheduled june session to readdress its production cutting agreement if the organization wants to halt the current slide in oil prices oil industry analysts said
mthly div 73 cts vs 73 cts prior pay march 13 record march two
as soon as is practicable arc america will acquire american aggregates converting the companys remaining shares into the right to receive 30625 dlrs a share
citicorp filed an 8 k form with the securities and exchange commission indicating a material change in its financial situation
the companies had been given until april 22 to comply with the justice department requirement kerridge said
domestic sales of 604 mln dlrs were unchanged and foreign sales expressed in dlrs increased 114 pct from the year earlier period
the rating agency also said georgia pacific benefitted from cost cutting and has reduced debt by 700 mln dlrs in the past five years
the credit brings total japanese loans and grants to bangladesh to 44125 billion yen since 1972 they said
redemptions included 114 mln bushels of corn valued at 170 mln dlrs or an average per bushel price of 1492 dlrs since the current grain catalogs were issued december 1 by ccc
i dont think we should change our economic outlook at the moment sumita said
live hogs and frozen pork bellies rallied on the chicago mercantile exchange while cattle ended lower
yeutter said japan would be sending a senior official from its trade ministry to washington next week for talks on the computer chip dispute
american quasar completes reorganization plan
it has commitments to export another 388390 tonnes this year
kraft inc said it completed the acquisition of frostex foods inc for undisclosed terms
the december quarter showed a 182 mln dlr surplus for merchandise trade unchanged from the september quarter surplus which was revised down from 271 mln dlrs
one month deposits declined to 6 1 4 1 8 pct from 6 1 2 1 4 on monday while three months was barely changed at seven 6 15 16 pct
the philippine negotiating team refined the pins idea three times before the final agreement was struck last friday ongpin said
the minister said the flow of funds from abroad would generate many new jobs in canada
west german banks would like brazil to work more closely with the international monetary fund imf with a view to seeking a solution to the countrys debt problems senior west german banking sources said
but he said the bank is willing to offer less profitable loans because it was just another way to attract people to our mortgage product trustee savings bank plc tsb was offering five year fixed rate mortgages at 99 pct earlier this year
lowell institution for savings lifs qtly div
spot tin on the european free market was indicated in the easier range 4200 to 4230 stg per tonne for high grade metal in warehouse rotterdam down 20 stg from yesterdays afternoon kerb close
imports of silver in jan dec 1986 totaled 144890000 ounces vs 152601000 ounces in jan dec 1985 while silver exports stood at 25114000 ounces and 24756000 ounces over the respective periods the bureau said
gatt case against japan a model for us lyng
reagan said japanese prime minister designate noboru takeshita said in a telephone conversation tuesday morning that his takeshitas top priority was to maintain stable economic relations with the united states reagan noted that treasury secretary james baker met with west german financial officials and reaffirmed their commitment to the louvre agreement
corrects march 17 item to show losses instead of profits
non callable for two years the debt is rated ba 1 by moodys and bbb minus by standard and poors
the stock rose 12 hk dlrs to 62 dlrs today
the partnership has earlier offered 100 dlrs per share for gencorp a tire broadcasting plastics and aerospace conglommerate
shr 164 dlrs vs 90 cts net 649 mln vs 288 mln revs 73 mln vs 35 mln note shares outstanding 395 mln vs 321 mln
dividend payable june 3 books close may 11 21
the company reported a net loss for the year of 2408000 dlrs or 82 cts a share
as previously announced dcny said its board has also recommended a two for one common stock split to shareholders
the cbt spokesman said another option being discussed was to renovate the financial floor in quadrants one quarter at a time
japan denies breaking semiconductor trade pact
to this end japan and the us must make medium and long term efforts to alter economic structures which have expanded the trade gap between the two nations
the iadb has approved previous loans totaling 2075 mln dlrs to help finance investments of some 580 mln dlrs in mexicos tourism sector
the companys 261 billion dlrs in first mortgage bonds were downgraded to dp 4 low aa from dp 3 middle aa the ratings on its debentures and preferred stock valued at 213 mln and 619 mln dlrs respectively were lowered to dp 5 high a from dp 4
shr 70 cts vs 491 dlrs net 37 mln vs 263 mln year shr 199 dlrs vs 335 dlrs net 107 mln vs 180 mln note1986 year 4th qtr include capital gains of 35 mln dlrs and 11 mln dlrs respectively and extraordinary gain of 34 mln dlrs and 12 mln dlrs respectively
wednesday borrowings were 14 billion dlrs as federal funds averaged a high 645 pct
the company said its williams natural gas unit which has less take or pay exposure than most major pipelines should show improvement in its 1987 operating results because of changes tariff and federal tax rates
debt securities of major us banks came under light selling pressure in secondary trading on the heels of standard and poors corps downgrade of six money center banks late yesterday analysts and traders said
growth in us revenues also improved the company said
prices rose at the fortnightly export auction here on march 25 for sales of 19071 tonnes of coffee from the 1986 87 and 1985 86 crops out of a total offering of 19407 tonnes the coffee board said
alpha industries inc said it has sold its microelectronics division to triax corp for undisclosed terms retroactive to february one
penney chairman william howell said sales continued strong for catalog operations and geographically ranged from very active in the east to weak in the economically depressed southwest penneys been shifting away from leisure time activity wear to other apparel lines which yield higher profit margins but are currently hurting sales said greenstein of bear stearns
its stock is currently trading at 34 1 4 on the new york stock exchange
the february rise brought the increase in consumer prices since the introduction of the anti inflation cruzado plan a year ago to 625 pct
the bank of japan has been trying to dampen money market rates to make the latest discount rate cut effective but so far in vain dealers said
the sources said the intervention price for the maize would be 20149 ecus a tonne
keycorp key registers subordinated notes
yesterday the companys chairman a
the bank also extended a 10 mln dlrs line of leasing to a malaysian bank and 19 mln dlrs to a tunisian saudi investment company the statement said
the chancellor need not be worried about losing some psbr funding from national savings but he must be taking the building societies criticism to heart
asbestec also said it expects to sign march six a 900000 dlr contract to remove asbestos from a major apartment complex in washington dc the project is scheduled to begin on march nine
mathematical applications group inc said it has signed a letter of intent to sell all of its operating business and will propose a plan of liquidation following the sale
taiwan announced plans for another round of import tariff cuts on 862 foreign goods shortly before trade talks with washington which officials described as a move to help balance trade with the united states
he also said bra kanon would fulfil his duties as icco council chairman during the talks scheduled to end on march 27
the seamen have settled for 120 pct pay increases with the individual companies but are still discussing the issue of overtime payments with the shipowners association syndarma
natural gas prices rose 18 pct after a 42 pct rise in january
shr profit three cts vs loss two cts net profit 157500 vs loss 60200 revs 11 mln vs 10 mln nine months shr profit five cts vs profit six cts net profit 223400 vs profit 260800 revs 32 mln vs 31 mln
yeutter said in the aftermath of the canadian and israeli pacts other countries have realized that if they want to continue to have access to the worlds largest market they had better get serious about improving the gatt the pact with israel he said is gradually increasing shipments both ways and the canadian pact will substantially increase the gross national products in both countries
if a bidder makes a material change near or at the end of its offer it will have to extend the offer to permit adequate dissemination the sec said
higher energy prices were primarily responsible for the increase in february though they rose at a slower pace than they had in january the department said
sumita says major nations cooperated to stabilise currencies
this improvement reflects the governments efforts over the last seven years to extend existing cocoa plantations and plant new higher yielding varieties particularly at the northern tip of the island they said
us 4th qtr balance of payments trade deficit was record 3837 billion dlrs
spethmann said income from associate companies had also been good in early 1986 87
shr 62 cts vs 19 cts net 961826 vs 226429 sales 228 mln vs 161 mln avg shrs 1543230 vs 1172039
it was underwritten by drexel burnham lambert inc kidder peabody and co and salomon inc
gradin cautioned that legislation upon which the boycott would be based was not impossible to get round
virateck inc vira 1st qtr feb 28 oper loss
national southwire is owned by national intergroup inc nii which holds about 55 pct and southwire co which holds the rest the spokesman said
shr one ct vs five cts net 19174 vs 118671 revs 3127162 vs 2936330 year shr eight cts vs 30 cts net 198290 vs 712087 revs 124 mln vs 116 mln avg shrs 2603588 vs 2376604
while you may be able to maintain your current market share in the us you clearly will not be able to look to the us to take major increases in your exports he added
australia is in an ideal position to provide the supplies if the market is willing to pay a premium for a fresh young product he said
kuwait says opec 24 mln bpd below ceiling
brown group inc bg 4th qtr jan 31 net
consolidated turnover 455 billion francs vs 454 billion
fortune savings to buy financial fssl branch
on the domestic front dealers say investors are amply covered by a 42 billion guilder nine day special advance by the dutch central bank which has given the money market sufficient liquidity until friday when the provision expires
bankers trust bt puts brazil on non accrual
on february 6 vulcan a cincinnati maker of shoe lasts and other products offered five dlrs a share for all of jones and vining common subject to certain conditions
hemlo gold gained 1 1 4 at 26 3 4 lac minerals was up 1 5 8 at 41 placer development rose 1 1 4 at 43 3 8 and lacana mining gained 1 at 18
sumita says bank will intervene if necessary
unless oilseed crushing increases sharply he said disappearance of vegetable oils could exceed production by 600000 tonnes the largest deficit since 1976
in a filing with the securities and exchange commission for a secondary offering de laurentiis said embassy will offer its entire stake in the company of 964936 shares of common stock in the public sale
saudi february crude output put at 35 mln bpd
the foreign exchange rate on the seven year bond was set at 44450 markka to the dollar
statistics canada reported the surplus was driven by a 23 pct gain in automobile product exports to a record 32 billion dls in the month
other products include a recorder device which allows students to leave taped messages in each others school lockers retailing for about 60 dlrs
the company said it foreclosed on the allied bank tower a 12 mln square feet office building at one fountain place dallas
current half net includes gain 2041000 dlrs pretax from termination of pension plan
brazil last month suspended interest payments on its 68 billion dlrs of debt to commercial banks and froze short term trade and money market lines
he is the first public official to be indicted for demanding money from wedtech a minority owned company that builds pontoon bridges for the defense department
analyst lawrence cohn of merrill lynch and co said it is unlikely the situation will be resolved until the second half of this year
the bank of england said it provided the money market with 181 mln stg in assistance this morning
workers and employers contribute a respective 25 pct and 10 pct of a workers salary to the cpf which had funds totalling 293 billion at end 1986
s and p affirmed the companys a rated senior debt and a 1 commercial paper
the move is a response to the increasing securitisation of debt markets they added
it said it is committed to building its general provision for loan losses to at least 20 pct of total outstanding loans to troubled sovereign borrowers by the end of 1989
construction workers today began building a 26 km 16 mile pipeline to link ecuadors jungle oilfields to a pipeline in colombia through which ecuadorean crude could be pumped to the pacific coast ecuadorean energy minsitry officials said
if usda decides to go ahead with a subsidy offer to the soviet union he said shultz will not wage a vigorous campaign against it
tonkas first quarter shipments will be down somewhat from 1986 record levels and gross profit margins will be down slightly from a year ago it said
the department said the feed is for delivery during april
additionally a new formula will be used for calculating the aid element in mixed credits to take account of different interest rates in the exporting countries the 24 nation oecd which hosted the reform negotiations said
crime control said it would use proceeds to pay its bank lenders approximately 286 mln dlrs representing about 87 pct of the principal amount of all its indebtedness to bank lenders
the overall balance of payments surplus rose to 840 mln dlrs in february from 716 mln in january and 76 mln in february 1986
seasons for oats barley began june 1 corn and sorghum sept 1
the bank the main subsidiary of manufacturers hanover corp said the new rate is effective today
commonwealth senior manager graham hand told the facility was the first in a program modelled on the us commercial paper market
pointing to a likely widening of the french trade deficit to around 29 billion dlrs this year from 24 billion in 1986 it warned that a further depreciation of the dollar against the franc could lead to a renewed loss of competitiveness relative not only to the united states but also to the newly industrialised countries this could result in further major losses of market share particularly in the non oecd area which accounts for almost a quarter of french exports it said
a glut of feed meals makes other oilseeds such as soybeans less desirable because they would add to already large meal stocks
the increase brings citgos posted price for the west texas intermediate and west texas sour grades to 1750 dlrs a barrel
it described damage as severe washington said four american frigates shelled and destroyed two iranian platforms at the rashadat formerly rostam field at 1100 gmt on monday in response to fridays missile attack on a us flag ship in kuwaiti waters
the 22 month old administration has cut repayments to 10 pct of export earnings on nearly all its 144 billion dlr foreign debt
meinke noted that in the case of argentina the loans became non accruing for a couple of quarters but then when the banks came to an agreement with argentina all the back interest was paid
jones and vining said vulcan corp offers five dlrs a share for jones
on the output measure gdp rose an upward revised seasonally adjusted 03 pct in the fourth quarter of 1986 to 1149 on the output index from 1145 in the previous quarter giving a 32 pct rise over the fourth 1985 quarter the cso figures show
the bank has provided 689 mln stg assistance so far today
this year the situation has been made worse by decembers rush to buy dollars by companies and businessmen who feared imposition of exchange controls
oper shr 19 cts vs 18 cts oper net 951902 vs 987860 revs 190 mln vs 171 mln six mths oper shr 26 cts vs 35 cts oper net 1332273 vs 2502868 revs 336 mln vs 292 mln note oper net excludes tax credits of 897925 dlrs vs 841511dlrs for qtr and 1306860 dlrs vs 2132073 dlrs for six mths
pro forma debt leverage drops to about 30 pct from 67 pct at september 30 1986
the diw repeated earlier predictions that gross national product gnp in the first quarter of 1987 would contract in real seasonally adjusted terms against the weak final quarter of last year
adams express co adx march 31 assets
offers for the copper are due by 1100 hrs edt april 21 while offers on the nickel are due at 1100 hrs edt on april 14
over the past 18 months as the us dollar plunged and investors moved into strong currencies the resulting sharp rise of the west german mark severely strained the system
this weeks meeting which began yesterday is due to end friday
the adjustment to the production forecast is due to the rains and overcast conditions which have greatly reduced the sunlight needed for this crop sources said
george wimpey plc wmpyl said the outlook for 1987 looked encouraging as the company realised the continuing benefits of restructuring
there is no doubt they could be used to target shipping across the strait of hormuz tension in the gulf has risen since us officials last week broke the news that iran had acquired the silkworm missiles
the company said it has a 2333 pct interest and other interest holders include atlantic richfield co arc sun co sun and deminex ag 10 pct
bci said in a statement that it is leading an international underwriting consortium of 25 banks and financial institutions
total area planted with sunflower for this harvest was two to 22 mln hectares or 299 to 363 pct lower than the record 314 mln hectares planted in the 1985 86 harvest
a total of 984960 tonnes were registered for main crop potato futures in february valued at 157 mln stg versus 992760 and 164 mln stg in january
dividend pay april 15 record march 31
the interest rate will be 1 10 point above the singapore inter bank offered rate for six month us dlr deposits
republic savings and loan rsla sets dividend
at the meeting of pharmaceutical analysts marions president fred lyons jr
oper shr 42 cts vs 11 cts oper net 1433000 vs 382000 revs 386 mln vs 201 mln year oper shr 60 cts vs 49 cts oper net 2033000 vs 1682000 revs 904 mln vs 730 mln note 1985 4th qtr and year excludes extraordinary credit of 349000 dlrs or 11 cts per share
frozen pork bellies fell sharply on the outlook for greater production and closed with limit losses
underlying dollar sentiment is bearish and operators may push the currency to a new low unless japan takes steps to stimulate its economy as pledged in the paris accord foreign exchange analysts polled by said here
oper shr profit 45 cts vs profit 56 cts oper net profit 1492000 vs profit 1842000 sales 365 mln vs 385 mln year oper shr profit 48 cts vs loss 244 dlrs oper net profit 1596000 vs loss 8084000 sales 1311 mln vs 1445 mln note 1986 year net includes pretax provision for loss on sale of subsidiary of 1600000 dlrs
the louvre accord is fundamentally misconceived
nimocks estimates american medical earnings for the second quarter ended february 28 could be 35 cts compared to a 95 ct loss last year
the swiss franc firmed to 11986 marks per 100 at the fix from 11971 yesterday and the yen rose to 1244 marks per 100 from 1243
net profit per nominal 250 guilder share 579 guilders vs 567 corrected for capital increase
pan alberta united gas settlement approved
us japanese talks of this kind are regularly held each year at this time she told reporters
efhutton efh extends purolator pcc offer
but you cant play down number two he said
i do not regard the dollar as undervalued at this point against the yen he said
sundstrand corp sns 3rd qtr net
producers are beginning to find themselves more competitive and they are increasing output wyss said that the latest data point to an average industrial production gain of 03 04 pct in the first quarter
it did say the offer for the companys stock will be conditioned also on the valid tender of securities representing at least a majority of the voting power for the election of directors of the company and the valid tender of at least two thirds of the outstanding cumulative preferred and convertible preferred shares
sri lanka to upgrade quality of coconut products
douglas said this years government bond tender program would be adjusted in the light of the surplus providing for the repayment of up to 600 mln dlrs of new zealands 2174 billion dlrs of overseas debt
doe secretary proposes oil tax incentives
texas commerce will retain its name as a separate subsidiary of chemical and plans to aggressively expand its holdings throughout texas offering additional products to build up its consumer banking business love said
the average yield on the six month bills was the highest since 570 pct on feb 17
ec farm ministers have been unable to agree the tax one of the main items proposed by andriessen for the 1987 88 farm price package
the increase will result from the addition of two linear reactors based on fluid bed gas phase technology for the production of linear low density or high density polyethylene at locations in the midwest and gulf coast it said
miami brazil and bank advisory committee agree to 60 day extension on credit lines
national entertainment corp nent 3rd qtr net
they said the department has until midnight tonight to set the duty but may not make the finding public until tomorrow
commercial paper outstanding nationally rose 35 mln dlrs to 33904 billion
kuwait whose shipping has come under repeated attack by iran has the full support of saudi arabia and other gulf allies a senior government official said
spear leeds and kellogg a new york brokerage partnership said it has acquired 136300 shares of allegheny international incs 1125 dlr convertible preferred stock or 71 pct of the total outstanding
total m3 rose 224 pct from february 1984
cyprus lowers copper price one ct to 66 cts
the issue is non refundable for 10 years
canada northwest energy ltd said it reached agreement in principle to sell one mln preferred shares by way of private placement to raise 325 mln dlrs for oil and gas exploration
there was concern by the leaders that reagan would veto the entire trade bill because of the textile amendment
dow chemical usa midland co said it will increase prices of its high performance thermal fluids in bulk and drums effective july one for contract and spot customers
foreign trade financing declined to 5728 mln dinars from 6682 million dinars the previous year
for three years running theyve moscow failed to live up to what we considered was an agreement
results include syscom corp from december 30 1986 purchase and beloit corp from march 31 1986 purchase
however silver was less likely to continue to outpace the other metals by such a margin montagu said
banctexas group inc said it has signed a definitive agreement to sell its banctexas sulphur springs affiliate to a group of local investors led by gene watson for a cash amount equal to book value at the time of the sale subject to regulatory approvals
cominco ltd said it set tentative talks with three striking union locals that rejected on saturday a three year contract offer at comincos trail and kimberley british columbia lead zinc operations
kroger expects to take over operation of the stores one of which is under construction in late april
grand union co 4th qtr march 28 net
the panama canal commission a us government agency said in its daily operations report that there was a backlog of 39 ships waiting to enter the canal early today
analysis and technology inc aati hikes payout
usx was trading up 1 8 at 28 1 2
syndication for elders note facility closes
the january rise in consumer prices was 10 pct instead of the previously announced 13 pct the bureau said without explaining how the error arose
dividend 1950 francs vs same
the events we have uncovered are unacceptable and highly regrettable incidents in our companys history nobel chairman lars erik thunholm told a news conference
yields on certificates of deposit cd offered by the united arab emirates central bank were higher than last mondays offering the bank said
argentina owing 50 billion dlrs is latin americas fourth biggest debtor
roldan told that brazil not only had to tackle the problems of satisfying domestic demand and competing on glutted world markets but also had to work to make its position on foreign exchange markets more profitable
wall street traders said the stock of outboard marine corp was rising on a rumor over a cable television program that outboard is a likely takeover target of sun chemical corp snl outboard was up 3 1 8 to 34 5 8
qtr ends sept 30 shr profit seven cts vs loss two cts net profit 228691 vs loss 54115 revs 2415419 vs 1389579 avg shrs 3056787 vs 2933058
the cbts action was made possible by a ruling last week by the securities and exchange commission sec which removed a key regulartory obstacle to trading futures on foreign debt securities on us exchanges
the request will be made when export certificates have been granted for all the 500000 tonnes the agpm said
this compared with a two pct growth forecast made by the semi official institute for economic research wifo last december
s and p cited its new policy on rating secured airline debt with special protection under section 1110 of the bankruptcy code
analysts suggested that tenneco could use a number of defensive strategies to fend off an unwanted buyer such as spin off some of its non energy businesses directly to shareholders buy back shares or create a limited partnership out of its natural gas pipeline interests
this year should be the fifth solid year in a row for homebuilding activity with single family units stronger than multi family units he said in a statement
said
the 30 cts dividend represents a 15 pct increase over prior quarter
south korea and taiwan are expected to double their output to 40 mln tonnes with chinese production increasing by 25 mln tonnes to 80 mln it added
operating profit 149 mln stg vs 756 mln
terms were not disclosed
acme precision acl sets holder vote on buyout
current restrictions on sulphur emissions and known future plans for both sweden and export markets did not cause it any serious problems it said in a statement
cooper development bugs restates results
the latest forecast prepared by the national accounts and budget commission assumed an exchange rate of 620 francs to the dollar this year and next and an average oil import price rising to 189 dlrs a barrel next year from 174 dlrs this year and 147 in 1986
msuya said the government expected to spend 7733 billion shillings in the financial year 1987 8 39 pct more than this years estimate
the ten principal destinations during january december 1986 with comparative figures for the same period of 1985 in brackets were as follows in tonnes holland 2444260 2234049 belgium 546423 595635 italy 430029 338766 czechoslovakia 365897 236836 cuba 253067 222842 iran 250646 192430 west germany 232049 158491 bulgaria 207030 300488 spain and canary islands 176287 113751 corea 163304 37416 the board added
the issue carries a put option after three years at 103 pct
its forecast for total ec sugar production including cane and molasses rose to 1410 mln tonnes from 1409 mln
oper shr loss 22 cts vs profit 10 cts oper net loss 1626000 vs pofit 702000 revs 983 mln vs 1051 mln 12 mths oper shr profit 18 cts vs profit 82 cts oper net profit 1293000 vs profit 5940000 revs 3962 mln vs 3967 mln note oper net excludes loss from discontinued operations of 2112000 dlrs or 39 cts a share for year ago qtr and 2036000 dlrs or 110 dlrs a share for year ago 12 mths
k mart said its effective tax rate rose in 1986 to 446 pct from 376 pct in 1985
in 1986 this would have amounted to an increase of approximately 600 dlrs in the income of the average american family sprinkel also argued the 1981 tax cuts were not responsible for the large increase in the budget deficit
pengo pgo to sell some wireline operations
rowley scher reprographics inc said it expects to report an operating loss and a loss from the sale of its mid south repro subsidiary for the year ending march 31
the government failed to publish a 1986 87 budget due to uncertainty surrounding oil revenues
ftc eases allied signal ald unit restrictions
houston oil trust said that independent petroleum engineers completed an annual study that estimates the trusts future net revenues from total proved reserves at 88 mln dlrs and its discounted present value of the reserves at 64 mln dlrs
ecuador says suspends oil exports due earthquake
the modest overall increase which is expected will be due to significant gains in production of corn soybeans palm oil and palm kernels constraints to significant overall increases in agricultural output include a shortage of disease resistant seeds limited fertile land insect pests and a reluctance by farmers to shift from rice production to other crops the report underlines
faygo has revenues in excess of of 100 mln dlrs national beverage said
corning to offer 05165 share for each hazleton share under earlier agreement
shr primary loss eight cts vs profit 49 cts shr fully diluted loss eight cts vs profit 45 cts net profit 681000 vs profit 115 mln nine mths shr primary profit 33 cts vs profit 236 dlrs shr fully diluted profit 33 cts vs profit 192 dlrs net profit 127 mln vs profit 475 mln assets 1053 billion vs 1075 billion deposits 598 billion vs 589 billion loans 844 billion vs 909 billion note 1987 nine mth figures include gain of 2470000 dlrs from cumulative effect of an accounting change
merrill lynch and co mer said the head of its mergers and acquisitions department in london accused by us authorities of insider trading violations has been suspended from the firm
in a separate letter sent to senior us officials miti vice minister for international affairs makoto kuroda suggested the two countries could conduct a joint investigation into allegations of japanese chip dumping in such markets
foster reported after tax earnings of 28 mln dlrs 26 mln dlrs and 354 mln dlrs for 1986 1985 and 1984 respectively
chemical industry production which fell by 09 pct last year was likely to stagnate or decline by one pct in 1987
this would help achieve lawsons lower than expected consumer price inflation target of four pct at end 1987 he said
the dollar was sold anyway
it also said it received 100000 dlrs from the sale of a convertible note to ventana growth fund as part of an overall 1100000 equity financing plan with ventana
the stricken ferry the herald of free enterprise belongs to townsend thoresen which became part of p and o in january
the budget itself could have an impact depending on how well it is received but analysts say relative interest rates and oil income remain the main influences on the currency
new measures are needed to reassure them of the consistency of government policies and make them interested in long term investment the newspaper said
the average rate of 592 pct was the highest since 598 pct on july 8 1986
japan to promote interest rate liberalisation
senate finance committee chairman lloyd bentsen told the senate the measure was not aimed at retaliation but at correcting japans unfair trade practices
allegheny international inc which has agreed to a merge with a jointly formed first boston inc affiliate in a deal worth 500 mn dlrs said shareholders of its preferred stock have filed a class action complaint against the company
i think one will find that the banking community the brazilian government and the international banking authorities will be talking for the next several weeks and i am very hopeful that we would find an accommodation rockefeller told bankers at a luncheon
asked about the canadian government decision to apply a duty of 849 cents per bushel on us corn shipments yeutter said the us could file a formal complaint with gatt under the dispute settlement procedures of the subsidies code
hall and co incs b 1 subordinated notes
in the process prices collapsed from about 28 dlrs a barrel to below nine dlrs until the organisation decided to cut production again from last september onwards
the acqustion is accounted for as a purchase and consolidated statements include westerns results of operations from july one 1986
no injuries were reported
continentals investment tax credits carryforwards of 128 mln dlrs at 1986 year end will be reduced to 106 mln dlrs in 1987 and if not used in 1987 to 83 mln dlrs in 1988 it said
the non callable bond is available in denominations of 1000 australian dlrs and will be listed in london
us consumer credit rose 177 billion dlrs in feb vs revised 789 mln jan gain
federated guaranty corp said its board declared a two for one stock split and raised the quarterly dividend to 6 1 2 cts per share post split from six cts both payable june one record may 15
uk grain potato futures volume down in february
ec awards 123000 tonnes barley export licences at 13875 ecus per tonne traders
the may crush ended today just over 17 cents so no processors will want to lock in a ratio at that unprofitable level the trader said
encor last year earned 354 mln dlrs
shr 19 cts vs three cts net 515000 vs 87000 revs 6830000 vs 4107000 six mths shr 36 cts vs 12 cts net 955000 vs 327000 revs 142 mln vs 9755000
elders resources issue to raise 161 mln dlrs
the leased system will be installed at bp exploration co ltds london headquarters in the fourth quarter of 1987 pending export license approval it said
interest rate and currency swaps and currency options are under closest scrutiny and if revisions are made they may resemble regulation jointly proposed by the us and uk to japan
great american gtam sees charge writedown
the lower court dismissed the complaint finding antifraud provisions of securities laws do not prohibit undisclosed excessive mark ups on securities transactions
shr profit 14 cts vs loss 19 cts net profit 225 mln vs loss 300 mln revs 6930 mln vs 5979 mln avg shrs 1660 mln vs 1542 mln note prior year net includes five mln dlr tax credit
qatars february output was 230000 bpd and this fell to 180000 bpd in early march compared with its 285000 bpd quota
dealers are large enough now to go public
the proposals were based on a doe study released yesterday warning the united states was threatened by a growing dependence on oil imports
vernitron vrn sets record date for merger vote
year current and prior excludes loss 1543000 and 2859000 respectively for estimated loss on disposal of hcl leasing corp
statistics canada also reported the countrys trade performance deteriorated sharply last year as the deficit in the current account rose to a record 88 billion canadian dlrs from the previous years shortfall of 584 mln dlrs
harrowsmith an alternative life style magazine is canadas seventh largest paid circulation english language magazine while equinox is the countrys eighth largest
but recent order receipts indicate a firmer tone in the heavy duty truck segment which could result in a five to eight pct increase in industry shipments for the full year he said
the dry weather has cut stored water volumes by over 20 pct compared with last march and lowered the water levels of many rivers it added
japan february trade surplus 814 billion dlrs january 570 billion surplus
the purchase of orbanco for about 47 mln dlrs in cash and common stock will be effective in 30 days a security pacific spokeswoman said
qtly div 31 cts vs 31 cts prior pay april 24 record march 31
shr profit 23 cts vs loss six cts net profit 319564 vs loss 84203 sales 6419230 vs 5583560 year shr profit 111 dlrs vs profit 43 cts net profit 1582125 vs profit 654083 sales 262 mln vs 226 mln note full year 1985 includes gains of two cts per share from discontinued operations and four cts per share from disposal of assets
but ec executive commission sources said industry commissioner karl heinz narjes told ministers today that 30 mln tonnes of annual capacity was excess to requirements and should be closed by the end of 1990
chronar crnr in joint venture in yugoslavia
he said ecuador owed the private foreign banks between 450 and 500 mln dlrs in interest payments for the rest of 1987 and about 66 mln in principal payments maturing this year
the publishing company also said it filed a shelf registration with securities and exchange commission covering a total of 500 mln dlrs of debt securities to be offered and sold from time to time
lukman gave no specific figures for february output
hovnanian enterprises inc hov qtr earnings
to date pennzoil has yet to receive any meaningful settlement offer from texaco though it remains open to any realistic effort to settle the matter pennzoil chairman hugh liedtke said in the annual report
the corn bonus to be paid in generic comodity certificates amounts to two dlrs per bushel based on the ascs program payment yield for corn for each acre of corn based accepted into the reserve
under terms of the agreement norstar would buy all 201660 shares of uniteds common stock at a rate of three norstar shares for each united share
seasonally adjusted export and import figures were not available but the department said they will be included in future current account data
peter miller apparel group 3rd qtr jan 31 loss
boatmens bancshares said its boatmens national bank raised the prime rate to 7 3 4 pct from 7 1 2 pct effective immediately
among the worst hit countries would be ivory coast senegal nigeria and papua new guinea the acp says
single family starts had fallen 28 pct in august from july levels
colombia will not attend managua coffee meeting
but france is still waiting for a promised industrial recovery the government says will follow from its free market policies
the result includes profit and loss transfers from bankhaus centrale credit and the visa organisation
interest on the debentures will stop accruing on and after its redemption date the company said
bishop graphics bgph completes store sale
ouko said the one stop bureau was intended to stimulate investment and cut the time and bureacracy currently involved in processing applications
the price was not disclosed
1985 excludes discontinued operations loss of six cts a share in the quarter and loss of two cts in the six months
energy optics inc 2nd qtr jan 31 net
nynex increases qtrly div to 95 cts from 87 cts end of body
ec and comecon ends talks with progress
gasoline containing at least 10 pct ethanol now receives a six cents per gallon exemption from a nine cent federal excise tax
there are indications the bonn government will also reject the proposed tax wagner said
it said the sale subject to regulatory approval represents a capital gain in excess of 800000 dlrs over the original price paid by cellular for its cellular interests in michigan acquired in december 1986
it has asked for a renewal of offers on march 24
yugoslav retail prices in february rose 72 pct from january to stand 916 pct higher than in february 1986 the federal statistics office said
the economys performance in the future very much depends on fiscal policy he added
harper said no determination had been made as to any transaction and that its special committee is continuing in talks with interested parties in an effort to come to a conclusion in the near future
west german net currency reserves rose by 300 mln marks in the third week of march to 820 billion following a fall of 54 billion marks in the previous week the bundesbank said
boliden ab blds st mining and metals group said it will announce a major foreign corporate takeover today involving a company with an annual turnover of two billion crowns
they said the imports are due to come in as a result of the accord by which the ec has promised the united states it will import two mln tonnes of maize and 300000 tonnes of sorghum into spain from third countries this year
despite his bearishness merrills bradford continues to recommend armco which he sees as a major turnaround
the coffee board was taking about eight weeks to recycle export receipts into payments to local producers whereas export bills handled by local banks took half that time to process they said
the committees were asked to come up with the proposals after the last reshuffle of ems exchange rates in january
privately held clearwater was sold for three mln stg the company said
bangemann said the steel and coal industries were no longer capable of being competitive
corrected crazy eddie crzyo sets rights
he also told reporters he hoped the community could deal with another controversial health proposal that would forbid the feeding of hormones to cattle which is also opposed by the united states
chinese vice foreign minister zhou nan and the ecs external relations commissioner willy de clercq signed the accord
including the 3000 tonnes he acquired on friday the total amount of cocoa bought by the buffer stock manager since he recently began support operations totals 21000 tonnes
traders at the chicago board of trade said attention in the grain markets has shifted from concern about burdensome supplies to the outlook that a lower dollar will stimulate export demand
muldoon has no rank in the opposition national party and party leaders with an eye to general elections to be held by september have rejected his calls for a managed float
in a press release the iwcc said that at the latest meeting between the copper industry and the lme to discuss the new clearing house system industry expressed grave concern about latest proposals made by at least one lme member for a cash cleared market to replace the planned clearing system which will retain the prompt date settlement basis
the issue is callable after 30 days at 106 pct declining by one pct per annum to par thereafter
ongpin wants 5 8 point over the benchmark rate which is currently hovering around 6 1 2 pct
innovex president thomas haley said the exchange is non dilutive and will cause a slight increase in innovexs fully diluted earnings per share during the last half of fiscal 1987
last september sainsburys increased its stake in shaws to 285 pct
grease monkey holding corp gmhc year nov 30
the us said it intended to raise tariffs of as much as 300 mln dlrs on japanese exports to the us on the grounds japan had abrogated a bilateral semiconductor pact
in the annual report the company called for imposition of an oil import fee by the us government to set a floor price of about 25 dlrs a barrel for crude oil
new generation products makes acquisition
amoco corp said its weqb 1 exploratory well 39 miles east of galeota point on trinidads east coast flowed 24 mln cubic feet of natural gas and 500 barrels of condensate daily from one zone and 29 mln cubic feet of natural gas and 600 barrels of condensate daily from a second
he said this was due to the sacking after the tin crisis of october 1985 of about 20000 of the 28000 workers at the state mining company comibol which produces more than 80 pct of bolivias total exports
the mineral interests will include asameras 51 pct interest in the cannon gold mine in wenatchee wash
the shares were purchased from nasta international inc nas on october 16 for about 115 mln dlrs bastia said
the company said it is applying to list the preferred stock on the new york stock exchange
peistner chairman and chief executive officer of mccrory corp and james nc moffat iii vice president and secretary of eastover corp
jukardi speaking to indonesian reporters said the negotiations would determine whether the 85 15 production sharing split in favour of pertamina would be adhered to or altered in some cases as oil companies are asking for
tenneco tgt buys unisys uis unit
the federal home loan bank board adjusted the rates on its short term discount notes as follows maturity new rate old rate maturity 30 273 days 500 pct 500 pct 30 273 days 274 294 days 590 pct 592 pct 274 294 days 295 344 days 500 pct 500 pct 295 344 days 345 360 days 593 pct 593 pct 345 360 days
shandwick shares were unchanged at 460p
wickes wix completes purchase
diversified industries dei 1st qtr oper net
on the new york stock exchange diamond shamrock was trading at 16 1 4 down 1 4
a military spokesman told the iraqi news agency ina the latest attack was at 1250 gmt
bp credit facility substantially oversubscribed
city resources would progressively earn up to 6666 pct of rgcs prospecting authority 585 which covers all the field by spending a total of 65 mln kina it said in a statement
the third barents sea licence covering blocks 7124 3 and 7125 1 went to saga petroleum a s the operator statoil atlantic richfield cos arcn arco norge a s total marine norge a s and amerada hess corp ahcn the oil ministry withheld awards on four strategic blocks included in the eleventh rounds second phase
if the two nations restructured their economies the dollar would remain stable in real terms while reducing japans current account surplus to 21 pct of gnp in 1993
system software associates ssax 1st qtr net
he expects the company to earn nine cts a share for each of the final two quarters of 1987
the december quarter was significantly affected by the introduction of a 10 pct value added goods and services tax gst in october 1986 it added
the company said it is evaluating the proposals from paul bilzerian and from a third party which is active in the leveraged buyout field but which pay n pak declined to identify
the current account deficit is expected to narrow to 119 billion ringgit in 1986 or 18 pct of gnp from 179 billion or 25 pct of the gnp the previous year
the partnership formed at year end by the conversion of intelligent systems corp from corporate form said its board has approved in principle quarterly dividend of 15 to 25 cts per quarter for calendar 1987
ranchmens resources ltd year loss
indonesia was one of a group of eight producing countries along with costa rica the dominican republic ecuador honduras india papua new guinea and peru which proposed a new quota system at last months failed international coffee organistion ico talks in london
us 7 year note average yield 704 pct stop 704 pct awarded at high yield 62 pct
he did succeed in buying ponderosa inc
in a separate announcement the company said it expects to record revenues of approximately 150 mln dlrs for 1987
resorts international inc said it received a proposal from ksz co inc under which holders of resorts class b stock would receive 140 dlrs a share in cash and one share of common stock in a new company to be formed through the takeover
other figures were jan87 dec86 jan86 refined production 155980 164243 166968 refined deliveries 131910 122364 136727 mine output metal content 77120 70560 81356
more
mulford noted that half of west germanys economy was affected by international developments
belgian starch manufacturer amylum nv is surprised and disappointed that its 675 mln dlr offer for the european business of cpc international inc cpcn was apparently rejected in favour of a lower 630 mln dlr bid by italys gruppo ferruzzi chairman pierre callebaut said
it said chile will supply copper at preferential rates to the venture whose equipment comes from wednesbury tube co of uk the agreement calls for joint sino chilean management of the venture for 15 years the paper said
under the terms of portugals january 1986 accession to the european community ec a grain import monopoly held by epac empresa publica de abastecimento de cereais is being reduced by 20 pct annually until all imports are liberalised in 1990
at this rate the greens creek mine will be the largest domestic silver mine and is expected to be one of the lowest cost producers the company said it estimates its total investment in the project including its share of preproduction costs at about 45 mln dlrs to be funded through internally generated cash and existing lines of credit
the underwriters are drexel burnham lambert inc kidder peabody and co inc and salomon brothers inc
when consumers want to get involved talks are much more difficult the main consumer country the united states and main producer brazil failed to reach agreement on quota distribution when the international coffee organisation ico met in february
venezuela is lending ecuador five mln barrels of crude for refining in this country to meet domestic demand
comalco said its extraordinary provision of 273 mln dlrs costs for goldendale losses and closure may be reduced if the sales agreement were completed
therefore he said he would not change his 1988 earnings estimate of 105 dlrs a share
in 1986 exports totalled 224 billion dlrs and imports 129 billion
albany international corp aaicao 3rd qtr net
the interesting thing our figures show is the transition in london from a marketing effort to a trading effort said louis crandall an economist at wrightson who has been collecting the data
the bank will also buy 170 mln dlrs of bills maturing in early june and 200 mln dlrs of bills maturing late june for its own portfolio
the company said top management of linotype plan to remain with the unit which has operations in the united states west germany and the united kingdom
india is searching for non communist countertrade partners to help it cut its trade deficit and conserve foreign exchange
the farm ministry said a december survey is still valid and plantings should be cut slightly after being trimmed by just under four pct in 1986 when yields were above average
chung who is also minister of economic planning said his gnp estimate was based on the assumption that the economy will remain stable
he told reporters the major currency nations are determined to continue their concerted intervention whenever necessary to stave off speculative dollar selling in line with their february 22 currency stability agreement in paris
syria may have bought 80000 tonnes of french soft wheat some traders here said
but he noted the official communique said the participants agreed to cooperate closely to foster stability of exchange rates around current levels
becor western inc said it is talking with a possible fourth bidder for the company
commercial credit co is raising 150 mln dlrs through an offering of notes due 1997 yielding 8217 pct said lead manager morgan stanley and co inc
the entire package also is being held up because of the need to reach an agreement to satisfy arrears due on short term insured and uninsured debts
mexican first qtr crude exports seen at 1525 dlrs
following are extracts from the communique issued at the conclusion of the opec conference here
jason benderly of goldman sachs and co noted that the us trade picture improved in the fourth quarter as net exports grew at a 20 pct annual rate while the rate of increase in imports fell to only six pct and that it continues to improve in the first quarter
cb and t bancshares inc said the board of carrolton state bank of carrolton ga has approved a merger into cb and t for an undisclosed amount of stock subject to approval by regulatory agencies and carrolton shareholders
they said ibc president jorio dauster is likely to leave the basic formula for the minimum registration price unchanged but raise the contribution quota to partially offset the effects of cruzado devaluation since april registrations were closed in mid february
alpine group inc agi 3rd qtr jan 31 net
it said it purchased an 80 pct stake in source in 1980 and earned an unspecified profit on 14 mln dlrs in revenues in 1986
hudson bay mining cuts us canada zinc prices
the current soybean program gave us the worst of both worlds asas haggard told the hearing
ec euratom french franc eurobonds expected
the company said the sale satisfied a condition for its proposed acquisition by an investor group led by citicorp cci
geodome said a new ore zone discovered last summer is not included in reserve calculations
outer continental shelf oil and gas lease sale number 97 in the beaufort sea tentatively schedualed for january 1988 has been postponed the us department of interior said
us home corp said it combined two existing credit and term loan contracts into a new credit agreement totalling 2223 mln dlrs with 18 commerical banks
fildes said that was attractive to cetus because it wanted a partner that didnt have a relationship with a large number of other biotechnology companies fildes said his strategy was to have partners in non drug areas like diagnostics and agriculture but to keep the biggest developments in anticancer drugs to ourselves fildes said the partnership with squibb would be used to broaden the companys reach in such big money making areas as the cardiovascular anti infective and the anti inflammatory markets
users said that since it signed a letter of intent to merge with security in november it has received a strong show of support for continuing the credit union ownership of the company with credit unions committing themselves to purchase additional users common
national average prices for farmer owned reserve
in december 1986 the museuem said it proposed a 20 pct cash payment to its bondholders and a 125 pct cash payment to the unsecured creditors
jewellery consumption is set to rise by 70000 ounces clark predicted in his speech the text of which was released in london today
faced with a belligerent domestic chip industry and an angry american congress the japanese government has been forced to walk an increasingly fine line in the semiconductor dispute trade analysts said
morgan grenfell shares stood at a late 366p 9p down on yesterdays 375p
yesterday marines and police occupied one ship the docemarte seamens leaders said
taiwan issues more certificates of deposits
the expected drop in prices could result in losses of as much as three billion dlrs in a year producer delegates forecast
orbit oil and gas ltd orbto 1st qtr net
a total 102350 tonnes of current series white sugar received export rebates of a maximum 46864 european currency units ecus per 100 kilos at todays european community ec tender the uk intervention board said
us meat processors ask for labelling change
citibank lowers australian prime rate to 16 pct
japan said an international agreement on loans to poland was needed before tokyo extended fresh loans to warsaw to help a japanese car maker set up a factory there
i dont think its worth much more than where it is said joseph doyle of smith barney
the indonesian government said crude palm oil cpo output is expected to rise to 156 mln tonnes in 1987 and 211 mln in 1988 up from a projected 145 mln tonnes in 1986 and 126 mln in 1985
moodys downgrades standard chartered stch 
maize yield this season is now estimated at 96 to 99 mln tonnes against last weeks 99 to 101 mln tonnes down 214 to 226 pct on the 124 to 126 mln tonnes at which private producers put 1985 86 production
eurofer added the industry would need the support of the commission and governments in carrying out a closure program particularly with social costs such as redundancy payments
the broken hill pty co ltd brkns said it will merge its bhp minerals division and utah international inc into a single business unit under a common management structure
the company said the merger is expected to be completed after mid year following regulatory approval
buckstein said the dot ruled the application which was filed wednesday was incomplete
roeller who is also management board spokesman of dresdner bank ag said in a radio interview it is unlikely brazils suspension last month of part of its interest payments would lead to a chain reaction in latin america
mthly div 71 cts vs 71 cts prior pay march 31 record march 16 note franklin insured tax free income fund
sfem is a central part of nigerias structural adjustment program which is considered to be the most ambitious economic recovery plan in black africa
major nations must act on currencies miyazawa
the group led by tag group sa of luxembourg said it filed with the sec on feb 20 a notice that it proposes to sell 1119925 shares of valero energy common stock
olson as saying that siemens attempt to stop at and t and philips could lead to a resurgence of protectionism in the us baur said he expected the french government to decide on the winning bid by the end of april
many would say that the law has already had its effect because of the dramatic drop in trade between south african and norway foreign ministry spokesman per paust told 
aero services international inc aeroe year
credit suisse first boston ltd commerzbank ag hambros bank ltd and merrill lynch capital markets are co lead managers
power corp of canada 4th qtr net
at the same time the sec is being pressed by some lawmakers to put a stop to abusive tactics in corporate takeover contests as an unrelenting wave of such takeovers steadily reshapes the us corporate landscape
the chemical industry which relies heavily on exports was badly hit by mark appreciation in 1986 and lower turnover was mainly due to foreign exchange losses strenger said
this month makulic imposed partial freezes on wages and prices which led to widespread strikes
idea inc said it signed a letter of intent to buy privately held structural instrumentation inc
stuart hall co inc stuho 1st qtr feb 28 net
selling period for the bond which dealers say has been seeing good demand has been accelerated to noon on friday
west germany and ireland are objecting to the new rules governing the sales of surplus butter into cold stores but the commission is loathe to abandon its position as the accord has been used as the inspiration for andriessens latest package
amoco has so far laid 7100 km of seismic lines and sunk five exploration wells in the morondava basin
new orders for manufacturing industry goods have mostly fallen or stagnated in recent months but data for february finally showed a reversal of the trend with a 19 pct rise
total orders in the first quarter were up substantially with a sharp increase in aerospace and defense orders in addition to those of the new sperry aerospace group it said
production estimates for the thai crop now exceed 23 mln tonnes and the final outturn appears set to reach around 25 mln tonnes
it said it will review the companys management strategy and financial plans
but he added we dont know if they will continue we dont know how significant they will be
the bank of england said it revised its estimate of todays money market shortfall to around 350 mln stg from a flat position
the department of transportation said it will allow usair group to acquire up to 51 pct of piedmont aviation pie voting stocks pending final approval of the proposed merger of the two airlines
upon redemption holders will be repaid at a rate of 8391 yen per australian dollar
earnings performance in the non manufacturing sector will be supported by firm demand in the real estate and construction businesses it said
but if against expectation we fail to reduce permanently the external account deficit this will inevitably affect borrowing terms and capability he added
the survey said overall corporate earnings were expected to turn positive with an estimated 04 pct year on year increase in the second half of fiscal 1986 ending on march 31 after a 54 pct decrease in the first half
the only other foreign firm to manage an offering in the us market is nomura securities international inc which won as sole underwriter a competitive issue in december 1986
perkins family restaurants lp pfr 3rd qtr
gaf said it will be filing an amendment to its 13 d with the us securities and exchange commission
but robert hormats of goldman sachs and co said he was not worried by greenspans lack of international experience
this removed a potential obstacle to a further cut in uk base lending rates if foreign demand for sterling pushed up the pound above unofficial targets analysts said
if this goes on for more than a few days it will have a serious effect because normal financial operations will grind to a halt said a western diplomat in sao paulo
such comments reflect the view that the currency markets are becoming increasingly politicized
note the company was not required to pay corporation tax in the 1986 87 book year thanks to fiscal compensation possibilities
tokyo dealers see dollar poised to breach 140 yen
colombia will not attend a meeting of coffee producing countries scheduled for this weekend in nicaragua jorge cadenas manager of the national coffee growers federation said
the bank of england said it provided the money market with late help of about 10 mln stg
in addition to buying dollars outright another way to stabilize the us currency would be for the fed to push us interest rates higher relative to overseas rates
tanjug said yugoslavia also discussed with its commercial creditors the idea of converting some of yugoslavias debt into joint venture investments but it gave no details of this
many have suggested that the larger us banks should take on the additional obligations but so far they have resisted this
the ministry said construction output fell 13 1 2 pct in january february against november december due to the cold january weather
rising demand is why oil traders and analysts expect a draw in stocks of about of about one mln barrels
in the same year ago period the company reported net income of 366953 dlrs or 18 cts a share
amarillo never became effective for that area klopfenstein told
swedens wallenberg group fought back a bid by the london based swedish financier erik penser to secure a large stake in swedish match smbs st one of the companies at the core of their business empire
the non callable bond is available in denominations of 5000 dlrs and will be listed in luxembourg
one trader said permanent damage to export prospects can be avoided if an agreemend can be reached soon but the situation will become more serious as time passes
burmah oil prospects remain favourable
rainbow says brierley upsetting progressive merger
ipecode said demand and production would develop in parallel this year in contrast to last year when production was unable to keep pace with the strong rise in domestic demand unleashing higher import demand
xtra xtr to buy fruehauf ftr unit
the expected drop in west german sales this year would be the result of the so called grey market for porsche cars he said
however that is the normal wording and we expect the hague court to refer questions on the interpretation and application of the levy to the european court of justice in luxembourg pex added
we consider the interest rate increase that has occurred here and internationally to be a problem and cause for concern poehl told an investment conference
japan firms to launch sales of 100 octane gasoline
but what would be useful is a greater differential in interest rates he said
egypt has been authorized to purchase about 125000 tonnes of us wheat flour under an existing pl 480 agreement the us agriculture department said
moniterm corp mtrm 4th qtr loss
the bill would allow farmers to forego planting and still receive 92 pct of deficiency payments
the employers said there were no immediate plans for meetings with the union either on the proposed redundancies or on a new work practice agreement in the sector
vague rumors that wendys is a takeover candidate continued to circulate wall street traders said
rudy boschwitz r minn cosponsor of the boren boschwitz decoupling plan said he supports a short term 0 92 program as a move to a more permament decoupling plan
circle express cexxo ends overland overo buy
gencorp gy names financial advisers
ec awards export licences for 25000 tonnes maize paris trade
the company said bicycle sales were soft early in the period but recent orders and shipments have been running well ahead of last year
yesterdays request to 30 trading houses by the ministry of international trade and industry to restrict dollar sales looks ineffective in light of this real demand they said
the department previously reported the third quarter deficit was 3767 billion dlrs
occidental petroleum corp said its midcon corp subsidiary will redeem on march 31 all 269000 dlrs of its outstanding 10 1 4 pct convertible subordinated debentures due 2009 at 10718 pct of par
as a result of the tender offer banner said it will own approximately 96 pct of the outstanding shares of rexnord
moreover the maturity of the bonds mostly 20 years was not attractive to other investors who might have been expected to deal more actively in the market
i dont think m 1 shows that the economy is falling apart and the fed should ease economists agreed a stable dollar will continue to be a prerequisite for any move by the fed toward easier monetary policy
dixons on friday extended the expiration time of its tender offer until midnight est march 24
the credit letter expires either when smoky river completes three mln dlrs of reclaiming activities or december 31 1992 which ever occurs first
the decline in january was the biggest for any month since july 1984 when the index fell 17 pct
londons rise as a trading centre for us government debt has been spurred by the increasing use of interest rate swaps which are now arranged for most new issues in the eurobond markets traders and analysts said
he noted that japanese and european imports from latin nations were significantly smaller than imports into the us he stressed both germany and japan must continue to take economic and structural measures to ensure stronger sustained economic growth
the japanese government appears to have little new to offer to settle a dispute with the us over computer chips trade analysts and government officials said
squibb has not approached us with any indication that they want to acquire us and we wouldnt be interested in that kind of arrangement said fildes
results restated for pooled acquisition of third national corp in december 1986
statoil said using a floating production unit rather than a fixed platform would cut construction time enabling field partners to bring veslefrikk on stream in late 1989 several months earlier than previously planned
catenas increase in sales was mainly due to the takeover of safveans ab in february 1986 which changed the business profile of catena
it previously filed a statement covering up to 600 mln dlrs of such notes national gypsum said
the committee approved an amendment offered by rep
but financing these tax cuts has proved more difficult for stoltenberg than he had bargained for
while they said they might increase their stake killearn properties they said they have no plans to seek control of it
colombia denied having sold 440000 60 kg bags of old crop coffee below current market prices to clients in europe and asia
shr loss 66 cts vs profit 107 dlrs net loss 20957000 vs profit 11041000 revs 154 billion vs 185 billion avg shrs 732 mln vs 717 mln note 1986 net excludes charge of 948 mln dlrs or 132 dlrs a share from abandonment of bailly nuclear plant
so far so good he told a meeting of bankers in lagos adding that only members of nigerias import dependent elite would suffer hardship while the common man would benefit
rank organisation has 100 mln stg cp program
but the french banks plan which would effectively postpone repayment of about 30 mln dlrs of the loan for several months is running into stiff resistance from many of the 52 members of the loan syndicate
it said the first quarter of 1986 had been the previous income record for a single quarter
australian treasurer paul keating said he expects the countrys 1986 87 current account deficit to be one billion dlrs lower than the 147 billion forecast in the august budget
azpurua said that according to the agreement the new interest rate will be retroactive to april 1 provided the accord is approved before october 1
shr 210 dlrs vs 172 dlrs shr diluted 198 dlrs vs 172 dlrs net 2228000 vs 1730000
ame president c
brown and sons inc absb and was formed november 26 1986
a company statement said the firm expects to pay a total 1987 dividend of four cents per b share while the a share dividend will be maintained at last years level of 40 cents a share
group shr 1834 yen vs 5872 net 1073 billion yen vs 3706 billion pretax 2776 billion yen vs 8478 billion operating 3006 billion yen vs 8881 billion sales 88922 billion vs 95578 billion note the company attributed the profit fall largely to the yens appreciation during the period
silver state mining ssmc sees production rise
shr profit two cts vs profit two cts net profit 216000 vs profit 265000 revs 1661000 vs 1376000 12 mths shr profit four cts vs loss two cts net profit 528000 vs loss 290000 revs 5881000 vs 5541000 note full name of company is pension insurance group of america inc
the reagan administration has predicted the trade deficit which soared to record levels last year will improve this year and the us economy will grow by a respectable 32 pct for the year compared with a 25 pct rate last year
american vanguard corp amgd year net
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
kuwait has agreed to charter tankers from the soviet union in a move to protect its oil exports through the mideast gulf diplomatic sources said
however australias output is estimated to rise to 90 tonnes this year from 735 tonnes in 1986
the gain was led by the residential construction index while the manufacturing groups continued to improve and the stock market index turned up the federal agency reported
it also said the stock and silver transactions will create a 37059000 dlr fund out of which dividends will be paid when cash is available
access to retail investors was the driving force behind the multi tiered financing
residential mortgage investments inc rmi payout
businessman has 57 pct of arden group ardna 
snyder oil partners lp soi sets quarterly
it may be called starting in 1992 at 101 with declining premiums thereafter or for tax reasons beginning in 1988 at 102 with declining premiums thereafter
saudi arabias quota is 4133 mln bpd
zimbabwe bans polypropylene bags for oilseeds
were not talking high tech or financial services or about a perfume company he said
the legal commitment to maintain these credits runs out on march 31 and the worried talk at the inter american development bank annual meeting here is that some disgruntled bank will sue for repayment raising the specter of a cascade of lawsuits and tit for tat asset seizures
the shares are worth some 500 mln pesos at recent prices
thus although there were 103 billion dlrs of repos outstanding on wednesday night the fed may have wanted to add even more reserves but was prevented from doing so
it said garland texas based naturalite had sales in 1986 of about 20 mln dlrs
sara lee sle to buy 34 pct of dim
the situation now is worse than it was
callon petroleum co clnp 4th qtr loss
shr profit nil vs loss nil net profit 28565 vs loss 204553 revs 507529 vs 6563 nine mths shr loss nil vs loss nil net loss 404011 vs loss 649495 revs 938345 vs 32535
the national census and statistics office ncso said imports of 436 mln dlrs in january were up from 371 mln in january 1986 and 393 mln dlrs in december while exports of 368 mln were up on the 314 mln in january 1986 but lower than decembers 421 mln
each two warrants allow the purchase of one common share at six dlrs through june one
silas said phillips hope to achieve its goal by raising the capital expenditures budget to develop its oil and gas properties
lyng says too late for crop decoupling this year
the italian treasury said it had closed its latest offer of 10 year variable coupon certificates ccts early after receiving subscriptions totalling 11500 billion lire
yeutter on the nbc program today said the united states did not want to terminate the agreement and would drop the tariffs once japan began fulfilling the agreement
he added japan might challenge the tariffs in the general agreement on tariffs and trade gatt but thats more of a paper kind of exercise and i dont really expect to see any adverse impact on us trade yeutter also said he did not see any way the semiconductor issue could be resolved before or during a washington visit later this month by japanese prime minister yasuhiro nakasone
paul temperton chief economist at merrill lynch europe ltd estimated that the government wanted to see the trade weighted index about 72 73 pct
the third option would be for governments to distinguish between the commercial and social aspects of agriculture possibly varying support prices according to farm size or overall production
the interest rate to be charged on the debt and manilas proposal to pay interest partly with investment notes instead of cash have been the main sticking points in the talks
shipments in tonnes with comparative figures for the 1986 period in brackets included beef 26945 20096 horse meat 3257 4211 and beef offal 7660 10502 argentines meat exports totalled 20243 tonnes in february 1987 against 19217 tonnes shipped in the same 1986 month
oecd says high wage deals harming nordic states
gulf resources and chemical corp said it has sold 9534633 shares of imperial continental gas association for 720 pence a share or 686 mln stg in a private transaction for a pretax gain of about 196 mln dlrs
the limited partnership will be similar to the westin hotels limited partnership completed last year when allegis sold westin hotels in san francisco and chicago
for the second quarter ended november 30 software ag earned 2089000 dlrs down from 5014000 dlrs a year before
china should tighten imports of ordinary goods and restrict or even forbid import of goods which can be made domestically premier zhao ziyang said
ecuador unable to service debt central bank
weston also anticipates using the proceeds for possible acquisitions of related businesses as well as for general corporate purposes
blaylock speaking on behalf of food inspectors said a new program allowing elimination of usda inspection functions at certain plants voids the law in letter and spirit and must be repealed or we will see rising consumer fraud and an epidemic of death and illness for which there will be no prevention nor legal recourse subcommittee chairman charles stenholm d tex said the panel would hold a hearing on salmonella june 2
local 222 of the united food and commercial workers union said it is calling a membership meeting possibly sunday to discuss its response to a decision by iowa beef processors inc to lift a lockout at its dakota city nebraska plant and resume operations
cocoa buffer stock may face uphill battle trade
el paso electric will use proceeds of about 6844 mln dlrs from sales and leasebacks completed in 1986 of its entire ownership interest in palo verde nuclear generating station unit 2 to redeem the double digit debt
during the year property prices continued to rise as more people bought real estate benefiting from low interest rates analysts said
total erickson resources ltd and consolidated silver standard mines ltd cdsv said that total erickson has purchased all consolidateds interests in its dome mountain property for 60000 total erickson shares and 70000 dlrs in cash
average yen cd rates fall in latest week
but a pension payment date by banks on behalf of customers was due on monday other dealers noted
total food aid needs in 69 of the least developed countries declined in 1986 87 as requirments fell in many countries in africa the middle east and asia the us agriculture department said
garment orders were 324 mln dlrs against 383 mln and 283 mln while footwear orders were 297 mln compared with 333 mln and 200 mln
opec members agreed in december to limit production to 158 mln barrels per day for the first half of this year and on a benchmark price of 18 dlrs a barrel from february 1
computer associates international incs 800 mln dlr merger with uccel corp uce will eliminate its strongest rival but the company still faces stiff competition from international business machines corp ibm wall street analysts said
s p upgrades american security asec and unit
but it became clear to us that it was in the best interests of both nzi and ourselves for brierley investments to acquire our holding he said
although it is still early to assess the coarse grain outlook the iwc said barley acreage is likely to fall in the european community but increase in canada
the proposed deals would have also included a standstill agreement which would have restricted sosnoffs right to buy more caesars world stock or to take any action adverse to incumbent management he said
the government which published the january unemployment figures today did not make any predictions
it also said french swiss and some canadian banks had subscribed to the package and that the remaining canadian banks would sign the accord in the next few days
we hope this will lead to a long term export market for us lumber products he said the contract calls for supplying 21 mln board feet to 30 mln board feet of softwood lumber for housing construction and furniture manufacturing
economists polled by said that m 1 would be anywhere from unchanged to up five billion dlrs
brown forman bfdb to change record dates
the sheet will be processed in facilities which are to be erected krupp said
it said other suits are expected to be brought
enfield corp plans notes preferred issue
the bond pays interest annually on march 25 and matures on the same date in 1992
shr 44 cts vs 11 cts net 1328000 vs 344000 sales 230 mln vs 123 mln note share adjusted for three for two stock split in february 1987
he was unable to say when the operation might begin
the new product porcine somatotropin pst is described as a natural bio synthetic protein that improves the lean weight and rate of weight gain as well as reduces the cost of feed for market hogs the company said
avery avry sees qtr year loss
heading off challenges to its third world debt strategy us officials also say they think concessions should be made to debtors that enact reforms speeding inflation free growth
the partnership said gencorp failed to say how it would provide a superior value yet they continue their attempt to prevent a satisfactory offer by failing to redeem their poison pill poison pills are shareholder rights plan that make takeovers more expensive
pubco said it will be entitled to redeem the rights at 01 cts per right at any time before a 20 pct position has been acquired and afterward in certain circumstances
the accounts also showed a financial deficit of 187 billion crowns vs a deficit of 133 mln which was covered partly by drawing down company liquidity to 738 mln vs one billion and partly by increasing borrowing to 223 billion vs 621 mln
the acquisitions must be approved by the federal communications commission jacor added
bank dealers said the taiwan dollar has stabilised against the us currency this week after rising two to five taiwanese cents a day between june 2 and 13 compared with a rise of five to eight cents in may
aart de zeeuw chairman of the general agreement on tariffs and trades negotiating group on agriculture met this morning with members of the house agriculture committee
president corazon aquinos spokesman said last week that she was committed to launching the program which limits land holdings to seven hectares by using her sweeping powers of rule by decree before a new congress convenes in july
other primes range from 1625 to 175 pct
we do not understand why the g 7 approved present rates as the yen has risen excessively since the paris accord ishihara said
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
this should cut the global oversupply to 850 tonnes from last years provisional 1100 tonnes
mca inc mca sets regular qtrly payout
at present world oil prices and the current value of the australian dollar annual oil imports in 1992 93 would cost between 32 billion and 36 billion dlrs benbow said
hmo america inc said it signed a letter of intent with mount sinai medical center here and an affiliate providing that all of its common and preferred stock be acquired by a new not for profit company to be controlled by mount sinai and other chicago area not for profit hospitals who may elect to participate in the acquisition
south africa recorded annualised real growth in gdp of 325 pct in the first quarter of this year and the economy should achieve the governments target of three pct growth for 1987 the reserve bank said
fed sets two billion dlr customer repurchase
he said his government aims to get jamaicas ratio of debt payments to foreign exchange earnings down from the current level of 50 pct to 25 pct over the next two to three years
the central bank bought bills for resale to the market in equal amounts on april 1 2 and 3 at an interest rate of 10 7 16 pct
enserchs stock closed at 22 1 2 last night on the new york stock exchange
vista said sales for the year are expected to be comparable to fiscal 1986s 5501 mln dlrs
only malaysia of the pacts 32 producing and consuming member countries had ratified the new agreement by the beginning of this month
this is about the same level as at the begining of the year
the us treasury said it will sell 132 billion dlrs of three and six month bills at its regular auction next week
the ruling of a gatt tribunal on a us demand that japan end quotas on 12 categories of food items is expected by the end of the year
us court allows offshore alaskan exploration
most expect the economy to continue showing modest gains that the dollar has more room to fall and that the fed will keep policy essentially steady perhaps for several months
they havent found too much oil in bass strait lately and esso needed a large pool of ongoing production goldston morris said
fraternite matin said the mainstays of ivorian agriculture had been little affected by the dry weather
cash in circulation is one of two components of the west german money supply which the german central bank is targeting to grow between three and six pct this year
he called on the international community to ensure a real transfer of resources from the industrialised to the developing countries
however usda officials said transportation has so far contributed no money
even though the fed chief joined baker in expressing more confidence in an optimistic outcome volcker was especially concerned about the political risks and in particular the fatigue with belt tightening
csr selling delhi to exxon unit drops delhi float
it said that the 74 pct of the thrifts reporting profits had net after tax income of 23 billion dlrs up from 20 billion dlrs earned by 77 pct of the profitable industry in the third quarter
subsequently revlon withdrew its offer sold back to gillette the shares it owned at that time and entered into the standstill agreement
a trade bill before the united states house of representatives is a very dangerous bill for canadian industry canadian forest industry council chairman adam zimmerman told reporters
it said the world bank agreed that infrastructural projects in yugoslavia should be accelerated and structural adjustment loans should be agreed this year
1986 net both periods includes 5642000 dlr pretax gain on sale of branches
the main thing the british would threaten the japan with is denial of access to londons booming financial markets government officials said
the situation is still uncertain at the moment
gross fees of 1 1 2 pct comprise 1 2 pct for management and underwriting combined and one pct for selling
the meat industry will seek to have the us government retaliate against ec and korean exports if their complaints are upheld
bank of england does not operate in money market
thai sugar production totalled 960788 tonnes in january an increase of 127 pct on january 1986 according to figures received by the international sugar organization
among the reports options to ease us reliance on foreign oil are several already advocated by the reagan administration
the five institutes had jointly forecast three pct 1987 growth in october last year
in meetings with both the foreign and telecommunications ministers howard said he expressed deep concern about the way tokyo had handled the dispute and about the continuing trade imbalance between the two countries
us trade representative clayton yeutter said the united states will retaliate if the european community adopts a proposed tax on vegetable oils but he did not say what ec products would be singled out for reprisal
canada the worlds largest potash producer exported 98 mln metric tonnes of potash last year with nearly a third going to the us most of the potash used in the production of fertilizer comes from provincially owned mines in saskatchewan
since it decided to put a ceiling on debt payments peru has been barred from international monetary fund lending
dutch cocoa processors are unhappy with the intermittent buying activities of the international cocoa organizations buffer stock manager industry sources told 
teck soon co ltd a major thai rubber exporter has formed a joint venture with state owned chinese international economic and technology development corp to produce 50000 tonnes of sheet rubber annually for export to the chinese auto industry teck soon general manager chit surivitchpan said
coleman said it noted an increasing number of heat exchangers in certain furnaces made from march 1984 through december 1985 were returned because of corrosion
sharp cuts on variable rate mortgages announced earlier this week by the nations two largest building societies and by national westminster bank plc reflect growing competition for new business officials at all three institutions said
algerian spanish firms agree quicksilver price
one senior trust bank source said that while sympathizing with the ministry position the trust banks had to conduct their foreign exchange operations according to the dictates of the market
foreign investors are reluctant to invest in yen when more attractive yields are offered on dollar and other currency investments traders said
tomorrow it will be different
cumulative sales authorisations for the current season 1986 87 now stand at 2194970 tonnes 43 weeks last week saw 102350 tonnes whites authorised for export under licences to end sep at the higest ever rebate of 46864 european currency units ecus per 100 kilos
fed funds will be coming under relatively intense pressure said salomons di clemente noting the approaching month and quarter end and the round of holidays and tax dates in april
the sources said madagascar was still a long way from reaching the production target of 110000 tonnes per year and the export target of 63000 tonnes outlined in the governments 1986 1990 five year plan
one official attending the washington talks with brazilian finance minister dilson funaro said theyve come in here now and said look were out of money help us but they havent come in with a plan
south american fish meal production at record high
australian investment group industrial equity ltd iel said it will raise 100 mln us dlrs by the issue of medium term notes and commercial paper in the us domestic market
the fed spokeman could give no reason for thursdays high float but he said that about 750 mln dlrs of wednesdays float figure was due to holdover and transportation float at two widely separated fed districts
the analysts made their comments before simons remarks at a bp press conference in new york this afternoon
banque francaise du commerce exterieur is issuing a three billion franc 850 pct 11 years and 302 days domestic bond with warrants at an issue price of 9642 pct lead manager banque nationale de paris said
delegates from 22 countries are meeting informally to discuss progress made since the latest gatt round was launched in punta del este uruguay last september
banque generale du luxembourg sa will act as listing agent and fiscal agent the spokesman added
1985 net both periods excludes 57000 dlr extraordinary gain
shr 92 cts vs 116 dlrs qtly div 10 cts vs 10 cts prior net 5700000 vs 5400000 avg shrs 6100000 vs 3700000 note dividend pay may 15 record may one
the falling value of the dollar makes us commodities cheaper for foreign buyers stimulating demand
quebec issues 30 billion yen eurobond
colombias coffee export revenue dropped 97 mln dlrs to 2336 mln dlrs for the first two months of the year against 3309 mln dlrs in the similar period of 1986 central bank preliminary figures show
colonial said the acquisition was its first move toward acquiring and out of state bank under alabamas regional interstate banking law
domestic sales were 39 pct down at 3267 units from 5397 while sales abroad rose five pct to 22002 from 21017
oper shr seven cts vs loss nil oper net 988000 vs loss 52000 revs 2267000 vs 791000 note net excludes gains from discontinued operations of 65000 dlrs vs 75000 dlrs
it said trading will begin in its stock april eight on nasdaq under the sumbol wcar
japanese firm has 107 pct of sheldaul shel 
the united states said its forces destroyed the platform on monday in retaliation for an iranian missile attack on a us flagged kuwaiti ship last friday
he urged congress to reject provisions that would mandate us retaliation against foreign unfair trade practices
bank of france says no money market tender today
national westminster bank said it cutting base rate to 10 pct from 105 pct
separately gen term which trades over the counter said it plans to apply for nasdaq listing after it completes the acquisition
thomas and betts co tnb wins patent appeal
latest qtr earnings include pension refund of 10 mln dlrs representing loss of two cts per shr after payment of preferred dividends
jan 31 end shr six cts vs eight cts net 177000 vs 252000 revs 3209000 vs 1070000 nine mths shr 12 cts vs eight cts net 365000 vs 247000 revs 7156000 vs 2960000 note prior year net both periods includes 91000 dlr tax credit
helig meyers co hmy year feb 28
textron inc said it plans to sell its avco specialty materials division as part of its debt reduction and restructuring
while the vibrancy of the us economy has contributed enormously to the world expansion preserving a growing world economy is the business of every member of the world trading community he said
tenders will be received next week for 220 billion dlrs of 91 day bills 120 billion dlrs of 182 day bills and 500 mln dlrs of 364 day bills
versatile corps shipbuilding subsidiary has a letter of intent to build a 320 mln dlr polar icebreaker for the canadian coast guard transport minister john crosbie said
the yens unabated strength despite the intervention brought it up to 12555 marks per 100 from yesterdays 12480
it said following the transaction the caisse will hold about 193 pct of cdc life sciences
the dispute originally was about wage rates and the form of industry negotiations
terms of the acquisition were not disclosed
rotterdam grain handlers stage lightning strikes
but subroto said relations with oil companies were two way and that they should step up expenditure on oil exploration now that the oil price had recovered
at end december 1986 the company had 417100 stockholders
the government realises that in order to remain viable bolivia will need to develop new exports
redzuan said the mines department would approve new mining licences only if a six month review of production trends showed that local mines were not overproducing
the australia and new zealand banking group ltd anzas said it will cut its prime rate to 1600 pct from 1650 effective june 22
dealers said there was resistance around 44000 but with sentiment still firm some traders believe the rally may even take gold as high as 500 dlrs
share adjusted for three for two split in august 1986
pennsylvania real estate investment trust pei 
local currency m2 rose 10 pct to 25149 billion dlrs last month after it rose 47 pct in january
the loan is now 99 pct subscribed
major rubber producers to meet in singapore
merrill lynch first qtr shr one dlr vs 85 cts
for the year ended january 25 1986 general reported net income of 297 mln dlrs
the international cocoa organization icco last week set precise limits on what the buffer stock manager bsm could do under the new agreement
delta natural gas dgas sells debentures
the new rate if unmatched by other banks will be the lowest among australian trading banks
the principal asset of the subsidiary bow valley exploration norge a s is an eight pct interest in the heimdal gas and condensate field offshore norway
tanzania sells maize to malawi mozambique zaire
usda said the increased purchasing is somewhat surprising because of recent higher soviet crop estimates
he said national security adviser frank carlucci will wait until that report is in and then see if there is any special action needed to be taken in the national security area to implement it
shareholders approved the reverse split in october
pegasus gold reduces debt starts mine
prior to 1986 sigma conservatively reported only proven reserves that could be mined without future development costs
price details were unclear but reports this morning suggested that turkey was offered sugar at prices ranging down to 212 dlrs a tonne c and f basis
under the agreement twa which holds about 15 pct of usair stock will not buy more usair shares before april 23 and will not do so after that date without giving 14 days notice to usair
italy was the largest ec recipient with 75000 tonnes followed by west germany with 55200 and france 52000 tonnes
the upbeat report comes in the wake of grim march trade balance figures which showed a deficit in industrial trade for the first time since june 1982
the offer still stands we have not changed our offer a bank of new york spokesman said
siemens raises stake in telecom plus of us 
the previous record low was 14470 yen set on march 30
free spot market prices rose from around 1450 dlrs a barrel in early december last year to near opecs official levels towards the end of the year after the opec pact
none of the 14 large money center banks borrowed from the discount window during the week and all of the wednesday borrowing was made by the smallest banks
brazil had the third largest trade surplus in the world funaro said although its share of international trade was only one pct
the notes in denominations of 100000 dlrs will have maturities ranging from one to six months
orders received 221 billion francs vs 261 billion
subcommittee chairman glickman endorsed the need to take some action on soybeans but cautioned that the marketing loan could mean a substantial increase in budget costs
treasury secretary james baker while defending the progress of his 1985 debt initiative conceded that lending by commercial banks to developing countries has not gone as fast as the administration would have liked
shr 105 dlrs vs 74 cts net 5244000 vs 3684000 nine mths shr 293 dlrs vs 214 dlrs net 146 mln vs 106 mln
the government plans to go ahead with a three billion franc package to help the long term unemployed with the aim of guaranteeing social security payments to everyone becoming redundant government officials said
after being adjusted for seasonal fluctuations the figures look a bit better but not much
the vote was 71 to 27
the lower supply levels result from a number of different factors around the globe
in a clear reference recent events he said those in the city who act for companies or individuals must i suggest be ready to accept a full measure of responsibility even if it entails opprobrium for the transactions that may result they should exercise the most careful judgment at the outset with respect to the clients for whom they act and the activities contenplated
government bond prices also surged on the budget with gains in excess of one point pushing yields on long term paper below nine pct for the first time in nearly a year
electronic industries association of japan eiaj chairman shoichi saba stated eiaj believes that it is premature and even irrational to attempt an assessment of the impact of the agreement and our efforts to comply with it only six months after concluding the agreement we urge us governmental authorities to reconsider the decision made to evaluate fairly the results of japanese efforts in implementing the objectives of the agreement and to resist emotional biases he said
french unemployment has risen by more than 40 pct from 18 mln when socialist president francois mitterrand took office in 1981
chrysler said in a statement the actions reflect not only our outstanding performance over the past few years but also our optimism about the companys future
csr has said that it will concentrate development on its core businesses of sugar and building materials after its moves into energy several years ago
sierracin corp said it completed the repayment of its entire 14 mln dlr bank debt and entered a new unsecured revolving credit term loan agreement
the strike has caused no serious dislocation he said
the result has been a modest improvement in tanker rates
rainfall in the key farming provinces of henan and sichuan was 70 pct below average during february the lowest figure for over 20 years the paper said
usda later today releases its first estimate of 1987 us sugarbeet plantings in the prospective plantings report
utilicorp united inc said its utilco group subsidiary completed the purchase of a 38 pct interest in westwood energy properties limited partnership for about 10 mln dlrs
the officials said part of the debt would be paid in exports of goods such as textiles leather and furniture
the wagner and brown afg offer does not expire until april 14 so shareholders have time to make their decision he said
he attributed the dollars fall in recent days to special factors in particular selling by japanese investors ahead of the march 31 end to their fiscal year
officials said most of the funds raised will be used to pay down 600 mln dlrs of bridge loans taken out last month when american hoechst bought celanese for 28 billion dlrs
fair lanes fair shareholders approve merger
remains president and chief executive officer
cp air pacific western airlines set new name
the us is willing to drop tariffs on japanese electronic imports if japan shows it will abide by an agreemement opening its markets to american goods us trade representative clayton yeutter said in a tv interview
the 141 mln dlr ida loan to rwanda will help finance tropical forest conservation projects and a reforestation program the bank said
seixas who has played a leading role in negotiations with creditors over brazils 109 billion dlr foreign debt is not attending current debt discussions in miami
the sec is structured as an independent regulatory agency meaning that its five commissioners are appointed by the president to fixed five year terms and protected from firing for policy differences alone
it will still be owned equally by mhi and caterpillar and will be set up with the aim of centralising mhis excavator business
she told a conference here on medium term notes that gmac is looking to obtain as fine pricing on the paper as it does with its program in the us the notes will be sold on a continuously offered basis the most popular structure so far in the us
nakasone sounds conciliatory note in chip dispute
in addition to system utilities computer associates also sell products for microcomputers while uccel has made inroads in the applications software market where analysts said it has been successful with accounting and banking systems
shr 103 dlrs vs 82 cts net 1982296 vs 1359273 revs 2403481 vs 1494304 investments 224 mln vs 115 mln note shr figures adjusted for 3 for 2 split feb 23 1987
the fed is on hold now because the data have been so confusing he said
us feeder steer price
he said there were risks in the atpc plan to cut exports but added he was confident the goals set by the plan would be achieved
uk firm ups italy fund ita stake to 12 pct
saudi oil minister sees no need to alter opec pact
unlike most eurobonds the issue will not be underwritten
endevco ei agrees to buy mississippi pipeline
atlantic city electric co said it will redeem all of its outstanding 5 7 8 pct cumulative convertible preferred stock
dynamic homes inc dyhm 4th qtr net
the size of the underlying futures contract is 130000 board feet
roubatis told reporters the soviet union agreed to buy the plants entire annual output of 600000 tonnes of alumina
the dollar fell to a record low against the yen this morning piercing the 150 yen barrier
martin processing inc mpi 1st qtr net
us grain traders and merchandisers said earlier this week usda might act soon to reduce the cash corn price premium at the gulf versus interior price levels by dropping ascs posted prices to encourage interior pik and roll movement
chinas trade deficit totalled 700 mln dlrs in the first two months of this year according to figures released by the state statistics bureau
the rights will expire ten years later on march 31 1987 the company said
baldrige predicts end of us japan trade dispute
continental illinois corp said it has raised its prime rate to 7 3 4 from 7 1 2
industry sources said dixons acquired the woolworth shares in connection with its unsuccessful bid for the company last year
the fhlbb said home savings was the 12th troubled savings institution requiring federal action this year
in 1986 belgiums gross national product rose 215 pct in volume terms against a 59 pct nominal rise
holders converting through march 17 will be entitled to receive occidentals regular quarterly dividend of 62 1 2 cts per share on common stock that is payable april 15
the issue was increased from an initial offering of 100 mln dlrs because of investor demand
the issue is available in denominations of 1000 dlrs while the payment is april 27
the ec and the us realised the tax issue would stay on the agenda for several months and there were indications that both sides would have to prepare for some tough negotiations the spokesman said
solomon described the structural core as about one half of the current 150 billion dlr annual deficit
the australian wheat board awb expects to sell about 900000 tonnes of wheat to the japanese food agency this year after renewing its annual supply agreement awb general manager ron paice said
national mutual cuts australian prime to 1775 pct
it said hc also agreed to lend up to 600000 dlrs to it in advance of closing and it had already received 300000 dlrs
for the first quarter the acquisition will have a negative impact of about 20 cts per share chief financial officer thayer bigelow told security analysts
venezuela obtained 300 million dlrs in credits
little progress was made in last nights three hours of talks with both sides largely reiterating their positions
dealers said there was no difficulty in placing liquidity in the primary market at the moment despite competition from the surge in investments on the paris stock exchange
in east anglia april deliveries of feed wheat traded at 123 and may at 124 but were subsequently bid one stg a tonne the market for denaturable wheat in liverpool held comparatively steady with sellers holding back due to uncertain conditions
brazilian president jose sarney announced a move which temporarily legalises the purchase of us dollar currency in the parallel market aimed at promoting imports of foreign goods
pickens who is currently touring the country promoting his autobiography boone said he does not believe the us should impose an oil import fee in order to stimulate the domestic oil industry
he said the bank was likely to aim at cds with a three month maturity at first as the market was best developed for paper of that maturity
the privatisation commission values bull at a minimum of six billion francs the press release said
usair fell 1 3 8 to 47 3 4 as doubt spread it would be taken over
world group sales in the sector fell 25 pct to 493 mln marks but incoming orders rose 25 pct to 513 mln marks
the fed noted the securities industry association a trade association of the investment banking industry had opposed chase manhattans application for more powers
the us agriculture department forecast the soviet 1986 87 wheat crop at 9230 mln tonnes vs 9230 mln tonnes last month
moderate to heavy rain continued over early double crop rice areas in eastern guangxi guanghdong eastern hunan jiangxi fujian and zhejiang in the week ended march 28 the joint agricultural weather facility of the us agriculture and commerce departments said
west german exports to us drop sharply
audis entire 1985 net profit was paid into its own free reserves to help finance investment
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
us factories used 10530 mln lbs of various vegetable oils in the production of edible products during february the census bureau reported
the department said the bonus awarded was 10582 dlrs per tonne and the wheat flour is for shipment july 1 10 1987
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
mafina bond with warrants set at 250 mln sfr
theres a good correlation between mediocre crops and fall dryness martell said
operating results for 1986 improved over 1985 and zenith was profitable in the second half of 1986 he said
us fhl banks set 255 billion dlr debt offer
borden said the four companies are expected to have 1987 sales totaling 230 mln dlrs
he held brief talks on sunday with brazilian president jose sarney during a stopover in brasilia
the philippine 1987 inflation rate will rise to 48 pct from 074 pct in 1986 if the government implements an employers association recommendation for a 10 pct increase in the 54 peso minimum daily wage this month economic planning secretary solita monsod said
the increase in us banks prime rates prompted concern about renewed inflation but the strength of the us dollar discouraged new buying
shr 32 cts vs nil net 12 mln vs 100000 avg shrs 3692000 vs 3148000 year shr 102 dlrs vs 54 cts net 37 mln vs 800000 avg shrs 3607000 vs 1461000 note net is after depreciation
tanzanian railways secure 256 mln dlrs aid
sosnoff said he has raised his offer for caesars world inc shares to 32 dlrs each from 28 dlrs and has reduced the number of shares he is seeking to 291 mln from all those not already owned
societe generale governor rene lamy told last novembers annual meeting that 1986 asset disposals would total around 45 billion francs including the sale of genstar shares to imasco limited imsto he predicted a profit on extraordinary items of two billion francs after a rough balance in 1985
none of gorbachevs proposals would change the system of economic incentives that has discouraged innovation and technological change the report added
during february factories used 653 mln lbs of edible tallow vs a revised 718 mln and 846 mln respectively
fairly active grain fixing emerged out of the continent however with maize covered from nantes to egypt at 15 dlrs and bagged flour from greece to china at 27 dlrs
credit foncier de france is issuing a 150 mln ecu eurobond due april 14 1994 at 7 5 8 pct and priced at 101 5 8 pct lead manager banque paribas capital markets said
rhodes inc said it now estimates fourth quarter ended february 28 earnings were eight cts a share down from the 25 cts earned in the final quarter of fiscal 1986
us bank income shows first drop in 25 years
integrated resources inc ire offering of 150 mln dlrs of senior notes with 50 mln dlrs due april 15 1990 50 mln dlrs due april 15 1992 and 50 mln dlrs due april 15 1995 all through drexel burnham lambert inc
any backlash was likely to take the form of sabotage or other action to make it difficult to blame iran they added
current year net includes capitalized software costs of 1295000 dlrs in quarter and 3701000 dlrs in nine mths
sosnoff made the offer directly to shareholders in a newspaper advertisement through a company he formed called mts acquisition corp
harcourt brace said we do not wish to put undue pressure on harper and row but we also in fairness to our own shareholders cannot allow an offer of such magnitude to lie on the table too long harcourt said three of its senior officers and its investment bankers met yesterday with investment bankers for harper and row to discuss the harcourt brace offer
crude oil gasoline and heating oil all posted gains on the new york mercantile exchange with crude oil prices matching life of contract highs
shr five cts vs five cts prior qtr pay may 15 record april 22
both companies said they do not plan to start new large construction projects linked to production increases in the coming year because of the yens appreciation and slow world steel demand
dome petroleum ltd year oper shr loss 694 dlrs vs loss two cts
shr 202 dlrs vs 194 dlrs net 147 mln vs 139 mln revs 2656 mln vs 2351 mln year shr 283 dlrs vs 336 dlrs net 207 mln vs 241 mln revs 7391 mln vs 6869 mln note current year includes loss equal to 12 cts shr from takeover defense and loss of 13 cts from loss of investment tax credits
shr basic 83 cts vs 105 dlrs shr diluted 80 cts vs 96 cts net 116157000 vs 125146000 six mths shr basic 171 dlrs vs 227 dlrs shr diluted 163 dlrs vs 206 dlrs net 230265000 vs 265535000 loans 6793 billion vs 6550 billion deposits 8371 billion vs 8425 billion assets 10000 billion vs 9750 billion avg shrs 1164 mln vs 1021 mln
nominal exposure exceeding 60 pct of capital must be reported to the bank of england and it must be notified in advance for exposure of over 150 pct of capital
president leon febres cordero on friday estimated total damages caused by the quake at one billion dlrs and said that ecuador as a result would maintain januarys suspension of interest payments on its foreign commercial bank debt
peoples bancorporation peop quarterly dividend
this is the first entry into the long term international capital markets by storehouse british designer terence conrans retail conglomerate which incorporates uk chain stores mothercare british home stores and habitat
schulmann speaking broadly about the global debt problem said that the international monetary fund should increase its assistance to third world countries
total revenues for the year ending feb 29 1988 should be between 320 mln and 350 mln he said
shr 41 cts vs 35 cts net 2362000 vs 1613000 avg shrs 5567300 vs 4070700
unseasonal cold weather has delayed sugar beet plantings in west germany by up to three weeks the agriculture ministry said
the company has yet to set a date for the meeting but has said it will be held before the end of august
he pointed out that the relief only applies to the development of new fields outside the southern basin
but the report raised a questionmark over the prospects for tourism and the banking industry two major service sector earners of foreign exchange
at the same time the investors believed the market was more liquid and efficient than before big bang
the zambian kwacha fell at this weeks foreign exchange auction to 1875 kwacha to the dollar from last weeks 1695 the bank of zambia said
bangladesh passed on its weekend tender for 100000 tonnes of optional origin soft wheat private export sources said
total soviet grain imports in 1986 87 at 280 mln tonnes include one mln tonnes of miscellaneous grains
a strong performance from all bat industries plcs btil major sectors enabled the groups 1986 pretax profits to pass the one billion stg level for the third year running chairman patrick sheehy said in a statement
the government should act without further delay to absorb the 17 billion dlrs of development aid it will receive in 1987 he said
the officials said they believed the japanese action one step short of filing a suit was designed to bring south korea to the negotiating table and stop the plan
the government had also failed to reduce overseas debt and debt ratios and cut the balance of payments deficit
some traders said a currency union could mean speculation against the saudi riyal rubbing off on other gulf currencies but plans call for a permitted divergence in the system of 7 1 4 pct large enough to avoid sudden strains
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
valtek inc valt 3rd qtr jan 31 net
it was all very tentative
herold inc in greenwich conn
he said however that larger acquisitions are possible if they are the right fit
the case will be heard again on may 4 when a summary judgement will decide if the civil case should proceed
taiwan complains about size of reserves
but for the first time china signed last week an agreement which it itself initiated to voluntarily restrain exports of at least two categories of steel goods which may lead the us side to withdraw the anti dumping case he added
volatility likely to remain low in debt futures
agip canada said it would retain offshore exploration blocks in labrador a gold mine in yukon territory and uranium interests in saskatchewan
traders said this means the export registration price will change more often in a truer reflection of market trends
if not there is a great threat of us legislative action to counteract that trend yeutter said
canadas inflation rate is currently hovering around the four pct mark
the debentures are convertible into wyle common stock at a rate of 1925 dlrs worth of debentures for each common share the company said
for several years uganda had been unable to meet its ico export quota as rebel activity disrupted the coffee industry
labatt said it would use proceeds to repay short term loans and for general corporate purposes
cape cod bank and trust co ccbto 1st qtr net
the administration has strongly objected to this transfer of authority from reagan to yeutter
qtrly div eight cts vs eight cts prior pay may 15 record april 10
petroleum intelligence weekly in this mondays edition said negotiations are moving along for adjustment of the 134 mln bpd joint long term agreement at official prices and volumes and other terms may be rearranged
egypts central bank today set the dollar rate for commercial banks for march 6 at 1373 87 dollars unchanged from the previous rate
allied irish banks foreign exchange dealer john kearney commented i would see interest rates coming down by two to 25 pct in the next three months
the commission which slashed its growth forecast for west germany to two per cent from 32 per cent has made clear it feels bonn has room to introduce additional measures to stimulate its economy that would benefit the rest of europe
pressure to cut production of 256 kilobit dram dynamic random access memory chips could merely speed the transition to one megabit chips where japan now leads analysts said
the west german government assumes that the commitment to international monetary cooperation which was renewed in washington last month will continue a finance ministry spokesman quoted finance minister gerhard stoltenberg as saying
to fully compensate for devaluation the quota would have to be around 28 dlrs per bag against 70 when registrations closed
prudential insurance co of america said it has obtained a 35 mln dlr line of credit from a group of minority owned banks led by freedom national bank of new york
privately eurobond traders estimate that about 80 pct of all new issues eventually become part of either an interest rate or currency swap
diversified a developer of single family housing in the atlanta market had 1986 revenues of about 253 mln dlrs
the new mexico republican said the report did not take into account the last few weeks drop in domestic oil production in its statement that an oil fee would raise prices for consumers
brooklyn unions bu unit to expand drilling
australias seasonally adjusted unemployment rate rose to 84 pct of the estimated workforce in march from 82 pct in february and 79 pct a year earlier the statistics bureau said
he added that 80 pct of spains exports went to organisation for economic cooperation and development oecd countries
well need very good disappearance next year to reduce stocks she said
telex tc may seek other purchasers
dealers said the bank of japan and bank of england supported the dollar against the yen earlier today and that these two banks and the us federal reserve were also active yesterday
but industry sources said it is unclear how much demand will pick up if retail beef prices drop following any sharp reduction in intervention prices
beghin say sees solution to ec sugar dispute
breakwater is offering to exchange one breakwater share for each two shares of novamin the company said
markets have become highly optimistic about the chances of a conservative party victory in any early general election and disappointment if prime minister margaret thatcher decides to hold back could lead to a decline in the pound and a setback for bonds fellner said
norstar shareholders to get 12 fleet financial shrs per norstar share in merger
it said reconstitution would enhance the flexibility liquidity and marketability of treasury securities
columbia first cffs takes over bank
brown boveri und cie ag lifts 1986 dividend
ohio mattress omt in acquisition settlement
met pro corp mpr to pay regular dividend
asked if japan was not living up to commitments made last month to trading partners he said recent figures showed japans economy grew by about 05 pct in the fourth quarter of 1986 not enough to sustain employment growth however sprinkel said japan had not reneged on its pledges and was moving toward more stimulative policies including tax reform
argentinas controversial new financing package should be completed quickly thanks to a wide range of innovative options in the deal said jorge gonzalez undersecretary for external debt in the economics ministry
the issues pays a coupon of one pct in years one and two and then pays a coupon of 7 7 8 pct in years three four and five
the supermarket chain earned 411 dlrs per share on sales of 1389 billion dlrs last year
trade representative clayton yeutter yesterday opposed the amendment saying such commodity agreements do not work
the government which has been in power since 1979 must call an election by june 1988
hungarian 1987 sugar beet area little changed
we have had a series of discussions with a great number of banks both bilaterally and individually on the foreign debt situation in preparation for april stals said
if brazil which suspended interest payments on its term debt on february 20 continues to defer interest payments for the rest of the year net income for the whole of 1987 would be reduced by a total of 72 mln dlrs
holland said sprints rates which were 50 pct lower than att when it did not pay to gain access to local telephone exchanges were now about 10 to 12 pct lower now that all the companies have equal access
under the proposal the buffer stock manager would buy cocoa from origins or the second hand market on an offer system
so its unrealistic and it doesnt work and its unnecessary the cmes top policymaker also said a decision by the exchange to advance the quarterly settlement time of its stock index futures contract to the morning from the afternoon would help eliminate dramatic price gyrations in futures and equity markets on so called triple witching day
the assets acquired will be used to form a new divisional office serving the northwest the nursing home operator said
shr primary 29 cts vs 26 cts shr diluted 27 cts vs 23 cts net 1500000 vs 1008000 revs 30 mln vs 231 mln avg shrs pimary 5254000 vs 3821000
the dollar is expected to try its psychological barrier of 15000 yen and to fall even below that level a senior dealer at one leading bank said
wheeling and lake erie railway co wle div
the spokesman declined to comment on the toronto globe and mail report when queried
in recent weeks there has been excess liquidity in the spanish economy which if not controlled would threaten the monetary and inflation targets set by the government the statement said
nigeria is due to receive 900 mln dlrs in fresh export credits this year from official agencies under a structural adjustment program drawn up by nigeria and the world bank to reschedule part of the countrys 19 billion dlr foreign debt
the company said the cosmetic product line in the us market alone could represent 20 mln dlrs in revenue
gillette canada issues 70 mln stg bond
bankers said the aim would be to keep the loan syndicates intact or conversely to allow small banks to write off their exposure in a way that is not detrimental to major lenders
morrison knudsen mrn gets army contract
general public utilities corp said its board declared a dividend of 15 cts per share on common stock its first dividend since it omitted payment in february 1980 as a result of the three mile island nuclear accident in 1979
bearer shares of schweizerische aluminium ag aluzz alusuisse fell sharply as trading resumed after a one day suspension on friday when the firm disclosed plans for a capital cut
i have no knowledge and i really dont think anyone other than the soviets have any knowledge lyng said he thought the soviets bought us corn last month because they needed it and because the price was right our corn has been pretty reasonably priced
mcintyre mines mp completes unit sale
some 280 billion dlrs in bids for six month bills were received including 780 mln dlrs in non competitives
an estimated 65 pct of egypts arsenal is still made up of soviet supplied equipment one official said
merrill lynch said that following discussions with commercial banks it is confident it can obtain the rest of the financing required to complete the transaction
arbitragers however said they do not believe heyman is seeking greenmail or the repurchase of his stock by the company at a premium
kuwait a target of iranian anger over the emirates backing for iraq in the gulf war today rejected charges that fishing vessels seized recently by iran were spy boats
the bonus of 4005 dlrs per tonne was made to peavey company and will be paid in the form of commodities from the ccc inventory it said
the transco pipeline system reached permanent take or pay settlements on about half its committed gas deliverability and interim agreements for another 38 pct of its deliverability the annual report said
people who are outside shouldnt think theyve been saved once we get over 77 billion dlrs one warned
britains cable and wireless plc cawll which holds a 20 pct share in idc has opposed plans to merge with rival group international telecom japan inc under the plan backed by the post and telecommunications ministry cable and wireless and us based pacific telesis international inc would become core companies in the merged firm with shares equal to those of the six major japanese core companies and seats on the board of directors
he said the long term answer is to switch some of the financial resources now committed to agriculture to other more productive areas
that is a very short term view said lawrence mills director general of the federation of hong kong industry
in 1987 venezuela will be required to pay 250 mln dlrs instead of the 155 billion originally agreed
reading co said it has agreed in principle to convey properties it owns in and around the philadelphia convention center site to the city of philadelphia and the philadelphia convention center authority
tokyo dealers said the japanese central bank bought dollars in tokyo earlier today
net includes gains from sale of investment in sheraton securities international of 5807000 dlrs vs 928000 dlrs for qtr and 8705000 dlrs vs 928000 dlrs for year
the transaction is subject to regulatory approval and a vote by equity minority shareholders at the april 23 annual meeting the company said
calstar also obtained a 500000 dlr revolving line of credit
shr 59 cts vs 48 cts net 3244000 vs 2584000 revs 1693 mln vs 1560 mln 12 mths shr 178 dlrs vs 132 dlrs net 9733000 vs 7164000 revs 5856 mln vs 5410
ryland group inc ryl sets quarterly
ranger oil ltd said it completed on march 2 the previously announced sale of its us oil and gas properties held by subsidiaries ranger oil co and ranger inc to ampol exploration ltd of australia for 185 mln us dlrs
statistics bureau february figures are out tomorrow
the sharp drop in world oil prices the past year triggered a 60 pct increase in bankruptcies in the countrys oil states according to a study released by the american petroleum institute api api said the dunn and bradstreet study found that business failures rose nationally by 69 pct in 1986 over 1985 but in the oil patch of the southwest the increase was 599 pct
the change made sense in view of the recent purchases of probably 250000 tonnes of west european and polish rapeseed and large scale butter imports that were expected from march onward it said
kleinwort benson kba unit sets first dividend
next world trade negotiations must succeed nz
prospects for the second quarter were relatively favourable with crude exports seen at 1320 mln bpd after an expected 1324 mln this month 1323 in february and 1395 mln in january
short of achieving israels full growth potential however yaccobi said it would still be possible to achieve economic independence by 1993 or 1994 based on the assumption that exports can be doubled from 1986 levels in that time period
on february 20 brazil said it would suspend interest payments on about 68 billion dlrs owed to foreign commercial banks
the bank of thailand estimated overall lending by the thai banking system grew 38 pct in 1986 against a 12 pct expansion in bank deposits
usair stock was trading at 44 3 8 off 3 4 on volume of 44 mln shares
armor all products corp armr quarterly div
they also said a smaller crop and adverse weather this summer in argentina had reduced production
swiss capital exports rise in january
the ussr has already bought 20 to 21 mln tonnes of grains in the july 1986 june 1987 marketing year primarily from canada the european community argentina and australia martell said
usually the issuer of a floating rate debt security swaps into fixed rate debt and vice versa
economists polled by said that m 1 should be anywhere from down four billion dlrs to up 23 billion dlrs
the union will also take its case against the redundancies 350 of them planned for this year to a court in amsterdam tomorrow he added
mcm corp to delay yearend report
but last week the bank of japan spent an estimated five billion dlrs intervening to halt the rise in the yen and other central banks about one billion dlrs
aristech chemical corp said it plans to increase production capacity for three of its key product lines polypropylene bisphenol a and phenol
under the newly structured company memory said it expects to report consolidated sales of 18 mln dlrs to 20 mln dlrs and should be profitable before allowing for extraordinary items related to the acquisition
owens illinois oi files 205 billion dlr offer
this resulted in such deposits with domestic banks rising to 17830 billion yen by the end december a three fold increase on end december 1985 levels bankers said
guinness peat has cash advance facility
elders which owns 100 pct of carlings outstanding common shares previously proposed to redeem the 433745 carling series a preferred shares at 3350 canadian dlrs each and redeem the 386662 series b preferreds at 40 dlrs a share
glamis gold glgvf sets common stock split
former prime minister robert muldoon an outspoken advocate of a managed float for the nz dollar said the currency is at least 10 pct overvalued
shr 22 cts vs 25 cts net 472000 vs 454000 revs 162 mln vs 152 mln avg shrs 2135315 vs 1835325 12 mths shr 71 cts vs 70 cts net 1393000 vs 1285000 rwevs 61805000 vs 55367000 avg shares 1960319 vs 1835325
the companies have a varying degree of urgency the ultimate impact of all these efforts by miti on the troubled us industry remains in doubt analysts added
while he detected no rush into stocks from bonds either among the many mutual funds under the t
dart has just under five pct of sgl shares
intermark imi seeks majority pier 1 pir stake
perus short term foreign trade credit lines regarded as vital to ensure smooth foreign commercial transactions have more than doubled to 430 mln dollars under the 20 month government of president alan garcia
seven oaks international inc qpono year net
it previously announced a plan to sell its stakes in both hong kong land and dairy farm to newly created jardine strategic holdings ltd in which it has a 41 pct interest
wong kum choon head of the malaysian delegation said he was cautiously optimistic that together we should be able to save inra and prevent it from being scuttled without inra he added prices of natural rubber would become more volatile
however the officials said the usdas figure of end 1987 88 stocks at 503 mln tonnes against 1986 87s 287 mln was not surprising given a record high yield forecast in april
the move announced last weekend is part of the banks policy for the second half of fiscal 1987 88 ending march and is aimed at curbing excess bank liquidity
the port jerome refinery has an annual production capacity of seven mln tonnes while fos sur mers is five mln the spokesman added
chirac sees quick decision on cgct
i do think we ought to be thinking about and working toward greater exchange rate stability volcker said
western ranchman had sales of about 22 mln dlrs for the year ended jan 31 1987 the company said
delegates said that in exchange for consumer flexibility on the floor price question producers may consider agreeing to another consumer proposal for more frequent price reviews at 12 month intervals instead of 18 at present
he mentioned the use of inorganic tin in pesticides as an exciting possible new application
national beverage to acquire faygo
the commission said it suspected the shares were actually controlled by eduardo cojuangco an associate of former president ferdinand marcos
the bank of frances open market policy to regulate the money markets since december has been based on a floor and ceiling of rates within the limits of its intervention and seven day repurchase rates
idc acquisition will also tender for all of idcs outstanding nine pct convertible subordinated debentures
transactions in rubber between the start of trading in april 1985 and december 1986 totalled 9595 tonnes worth 69 mln dlrs fob plus 1843 mln rupiah for rubber delivered locally the latest exchange report said
1986 net involves 53 week reporting period to reflect change in yr end to coincide with calendar yr
canada december leading indicator up 04 pct
yield falls on 30 day sama deposits
the move by toshiba comes in the middle of a dispute over japans refusal to open up its telecommunications market to foreign companies
shr loss 422 dlrs vs profit nil net loss 5568000 vs profit 11000 revs 422 mln vs 375 mln year shr loss 374 dlrs vs profit 102 dlrs net loss 4898000 vs profit 1384000 revs 1390 mln vs 1327 mln note 1986 net both periods includes 1603000 dlr loss from discontinued operations due to settlement of lawsuit and redemption of preferred
the company said the credit facility is extendable under certain circumstances with annual principal payments of five mln dlrs
it claims the hormones ban has no scientific basis and will rob it of 130 mln dlrs worth of exports a year
german cash in circulation up at februarys close
spectra physics spy mulls sale restructure
lead investor is investors in industry plc cityquest also has loan facilities of 30 mln stg
it made no alteration to its established dealing rates buying 95 mln stg of band one bank bills at 10 7 8 pct and 111 mln of band two bank bills at 10 13 16 pct
the notes will mature april 2 1992 at par
scan graphics to merge with public company
inl chairman alan burnet said the purchase would enable the subsidiary to offer advertisers a combined distribution of nine community newspapers to 340000 homes in the greater houston area
discount corps mcgroarty described the feds intervention volume as impressive james oneill of marine midland bank was not so positive however the dollar has not yet bottomed out
we must try to get them to lower the spreads machinea told 
louart corp a los angeles investment firm said it raised its stake in amerford international corp to 105615 shares or 78 pct of the total outstanding from 69715 shares or 52 pct
shr 81 cts vs 24 cts net 40453000 vs 11833000 sales 2671 mln vs 1270 mln avg shrs 50226000 vs 48337000 nine mths shr 207 dlrs vs 38 cts net 102564000 vs 18127000 sales 7080 mln vs 3183 mln avg shrs 49573000 vs 48024000
industrial production excluding construction and adjusted for the number of working days fell 15 pct in december from year earlier levels the national statistics office said
there is a put option on may 7 1993 which will give the investor an indicated annual yield to the put of 8 1 2 to 8 3 4 pct
zimmerman reiterated profitability has been hurt by a move by canadian negotiators to impose last january a 15 pct export tax on softwood lumber shipped to the us in exchange for a us lumbermens lobby dropping its request for a countervail duty
philip morris mo up on recommendations
but african countries should not be the ones to ask for large scale debt write offs he said
the contract also contains options for more than 100 systems to be ordered within the next several years the company added
grain reserve holdings usda
waxman industries inc said it filed with the securities and exchange commission a registration statement covering a 25 mln dlr issue of convertible subordinated debentures due 2007
keycorp said this gives the transaction an indicated value of 102 mln dlrs
european community agriculture ministers agreed to extend the 1986 87 milk and beef marketing years to the end of may belgian minister paul de keersmaeker told a news conference
but economists said the proposals are unlikely to involve more than tinkering with technical details
ibc seeks export details to set coffee quotas
it said the modernization would involve replacement of the existing bar mill with a high speed quick change continuous mill
labour minister almir pazzionotto said the government will not force a settlement of the strike which was ruled illegal last friday
huckaby chairman of the house agriculture subcommittee dealing with sugar issues told in an interview
a half point cut in base lending rates was announced by the big four clearing banks today after the bank of england finally endorsed such a move following weeks of downward pressure dealers said
the deposit interest rates are now savings and 24 hours two pct seven day call one week and two weeks 2 1 4 pct one month and two months 2 3 4 pct three and six months 3 1 4 pct nine months 3 1 2 pct and 12 months four pct
the rating agency noted that incoming orders remain lackluster and will probably inhibit any significant rebound in profits this year from the recent near breakeven levels
the proposal will give the banks a choice of 5 8ths or the alternative ongpin said
khalaf al oteiba marketing director at the abu dhabi national oil co adnoc told the companys petroleum community magazine adnoc was also keen to keep good customer relations
payment is due april 15 1987
shr loss 13 cts vs loss 20 cts net loss 1343266 vs loss 2086086 revs 823 mln vs 803 mln year shr loss 183 dlrs vs profit 124 dlrs net loss 192 mln vs profit 134 mln revs 3881 mln vs 3703 mln note 1987 year includes charge 150 mln dlrs pre tax for inventory valuation allowance
metropolitan police told reporters the four arrested put under six month pre trial detention owed nearly 507 mln taka the equivalent of about 17 mln dlrs to bangladesh shilpa industrial bank
this is because of an unavoidable lag in price information particularly on housing used cars and insurance on household contents it added
irt property co a real estate investment trust based in atlanta georgia has launched a 30 mln dlr convertible subordinated debenture in the euromarket a partner of chandler partnership ltd said
stoltenberg says he assumes monetary cooperation will continue
he estimated the combined rise in malaysian and indonesian mature area at 87 pct next year after 95 pct this year and at 67 pct in 1989 and 50 pct in 1990
other prime rates now range from 16 pct to 175 pct
officials of both companies estimated their combined efforts could produce originations of 800 mln dlrs and a loan servicing portfolio well over 20 billion dlrs by yearend
harmon hrmn to buy recycling firm for cash
standard and poors corp said it affirmed the ratings on 19 billion dlrs of debt of chrysler corp and related entities
treasury foreign reserves are jordans priorities
wayne jones vice president at outboard for strategic planning said management wants to stay independent
qtr 1987 includes 446000 dlrs or 20 cts per shr extraordinary charge due to duction in utilization of tax loss carryforward
however it may take some time to replace the financing the source said resulting in what could be a substantial expense to the firm
solomon forecast inflation at 45 pct by year end but said it could be kept below five pct in the medium term if oil prices are stable and commodity values remain low
hutton is still a takeover candidate said eckenfelder
additionally a new formula will be used for calculating the aid element in mixed credits to take account of different interest rates in the exporting countries the 24 nation oecd which hosted the reform negotiations said
prices for major metals expressed in real us dollars declined to the lowest levels in about 50 years it said
american lawmakers rallied behind president reagan for the us strike against iranian targets in the gulf but the attack fueled a sharp new white house congress debate over limits on his powers to make war
the index britains measure of inflation is for february
the general partners offer is subject to receipt of financing a majority of gencorp shares and other conditions
traders here had also forecast todays total authorised sugar tonnage export awards up to 100000 tonnes versus 59000 last week when the restitution was 45678 ecus
warner wci has 82 pct berkey inc bky stake
it said it planned to invite shareholders and non voting stockholders to subscribe to a warrant bond issue of around 150 mln swiss francs to be made after the june 2 annual meeting
yergin said that imports above 50 pct of us requirements is a critical symbolic level
genetics institute inc and wellcome plc a british based pharmaceutical company jointly announced the selection of a site for their joint venture welgen manufacturing inc formed last september
the semi annual council meeting is scheduled to run until march 27
the production forecast was reduced to between three and 33 mln tonnes against 32 to 35 mln tonnes last week 214 to 268 pct down on last seasons 41 to 42 mln tonnes
but there are still obstacles to trading on the london market
nicholas declined to give any details but said an announcement might be ready in a few days
the debentures have a 9 1 8 pct coupon and were priced at 9975 to yield 146 basis points over comparable treasury bonds
sweden issues seven year domestic bond
union carbide uk debt upgraded by s p
there is no court action against brazil gros said in a television interview
oper shr three cts vs three cts oper net 511000 vs 550000 revs 197 mln vs 177 mln avg shrs 15777000 vs 16074000 note earnings exclude gains from utilization of tax loss caryforwards of 398000 dlrs or three cts a share vs 455000 dlrs or three cts a share
imre corp said it has received commitments for a group of european institutions to buy about 400000 imre shares for 2500000 dlrs with closing expected on march 16
shr 19 cts vs 32 cts net 586000 vs 802000 sales 142 mln vs 151 mln avg shrs 3006372 vs 2506250
cojuango who headed the boards of both smc and ucpb when he fled last year after marcos was toppled personally owned 24 mln shares in smc
this has been viewed with concern by some members who fear the inra may become indebted and ultimately face collapse like the international tin agreement
the sanwa bank ltds three year business plan foresees securities and international operations making a greater contribution to operating profits a bank official said
the administration would not reveal a retaliation list unless the ec approved the proposal he said
gi valentchits deputy trade minister at the soviet embassy told a report earlier this week that tsvetmetpromexport had asked the philippine government whether it could help rehabilitate or operate nmic was incorrect
the yunnan 1986 87 sugar harvest was a record 521500 tonnes the provincial daily said
bankers trust new york corp said it has placed its approximately 540 mln dlrs of medium and long term loans to brazil on non accrual status and that first quarter net income will be reduced by about seven mln dlrs as a result
qtly div five cts vs five cts prior pay july one record june 17
usx x uss unit raises prices
coast rv inc 1st qtr net
ivory coast says coffee price fall short lived
venezuela sees oil stability despite gulf attack
he said the main objective was to raise exports outside the oil and natural gas sector
the us congress is making japan with its enormous worldwide trade surplus the symbol of the us trade crisis and the focus of its efforts to turn around americas record trade deficit
food and drink retailer argyll group plc aylll said it has agreed to sell its uk subsidiary george morton ltd to seagram united kingdom ltd for about 14 mln stg in cash
freddie mac explained that the securities can be used as collateral for borrowings sold to other investors or employed in a variety of cash management techniques
bankers said the thai banking system is saddled with about 40 to 50 billion baht of surplus funds which have created problems for many banks in managing their money effectively
shr 18 cts vs 16 cts net 348298 vs 308927 sales 4166750 vs 3740970 year shr 72 cts vs 52 cts net 1409867 vs 1020096 sales 165 mln vs 150 mln avg shrs 1974529 vs 1956214
profit taking which robbed the currency futures of some momentum today is likely to continue he said
with a record us trade deficit of 169 billion dlrs last year and a farm economy in the doldrums congress is pressing to hold back us funds for the world bank and other development banks if the money is used to subsidize production or to produce goods already in oversupply around the world
the soviet union has agreed to cut its coking coal export prices to japanese steel mills by about five dlrs a tonne in 1987 88 starting april 1 in exchange for an increase in export volume industry sources said
us lenders mostly savings and loan associations were earning rates as low as three pct on 30 year fixed rate mortgages they held in their portfolios but had to pay depositors rates as high as 15 pct to induce them to retain their accounts
cain sloan has four stores in nashville
hj heinz hnz elects new chairman
but the kingdoms still sluggish economy and legal problems hampering traditional lending operations mean earnings will remain vulnerable
lower ascs corn prices to affect ten states
the company faces challenges to its two television and 12 radio station licenses partly becuase it failed to inform the fcc about allegedly improper foreign payments and political contributions
they agreed on a pricing system aimed to stabilize the market around 18 dlrs a barrel
at the seasons first crop test on june 26 the bureau rated crops at an overall 94 the same as on june 20 last year
its no more interest rate capitalisation than if you have a write down in the spread over libor from what existed before the official said in comments suggesting some ought to be granted the rate concessions they seek
wal mart wmt completes acquisition
it would however increase inflation and reduce world trade it said
malaysian growers however said they preferred a free rubber market because an inra had a tendency to keep prices at levels that were only acceptable to consumers
sept daily ave primary aluminium output 34900 tonnes up 400 tonnes ipai
ali said the conference which began thursday and ended saturday evening had been too short for all necessary problems to be adressed
but komatsu is reluctant to push hard for a similar decision on a gottardo subsidiary
brazil on february 20 suspended indefinitely interest payments on 68 billion dlrs owed to commercial banks followed last week by a freeze on bank and trade credit lines deposited by foreign banks and institutions worth some 15 billion dlrs
the two companies had been holding exploratory discussions
shearson follows goldman sachs and co in finding a japanese partner
kuwait they said was pumping 12 mln bpd
joint action said vital to boost world growth
the spot dinar was 027930 40
fed expected to arrange system repurchases
amalgamated reported net income of 1065 dlrs per share or 697 mln dlrs on revenues of 3713 mln dlrs compared to a net loss of 700000 dlrs or 10 cts a share on revenues of 2547 mln dlrs last year
hutchison which has operations ranging from trading to property and container terminals earlier reported after tax profits of 162 billion dlrs against 119 billion dlrs in 1985
amstutz said while certificates encourage more loan entries they also encourage heavier loan redemptions rather than forfeitures
german call money eases after liquidity injection
occidental oxy offers over 37 mln shares
williams was 15p higher at 765
williams industries inc wmsi 2nd qtr net
full name of company commonwealth mortgage of america
an agreement between cbot and liffe in early february on mutual settlements is expected to link us treasury bond futures trading in london and chicago enabling a continuous 12 hour session bond managers here said adding the move was made with yen bond futures trading in mind
the brazilian and ecuadorean experience shows orthodox solutions to debt cases dont work said a senior peruvian government official responsible for debt affairs
the fed may add the reserves directly instead via system repurchases
fairchild simply doesnt have key technology thats a thing of the past may said
cibc australia ltd is issuing a zero coupon eurobond with a total redemption amount of 125 mln australian dlrs due may 15 1992 priced at 54 pct sole lead manager cibc ltd said
metals activities contributed 83 mln stg to net profit
a strengthening canadian dollar against us currency will also adversely affect revenues and earnings since 85 pct of revenues are generated by sales outside canada said carolian a leading supplier of utility software for hewlett packard computer systems
singapore bank credit rises in january
president alan garcia said peru has found gold deposits worth an estimated 13 billion dlrs in a jungle region near the ecuadorean border about 1000 km north of here
the weak german bourse saw earnings on commission fall sharply and trading in securities also fell
the employment and production data point to a big inventory build up but thats what we thought in the fourth quarter and we only got 13 pct gnp growth manufacturing employment gained 50000 after falling 15000 in january
mark iv said it also agreed at the meeting that if it decides to seek control of baird it would be through a negotiated merger or business combination or through a tender offer in which baird would have at least 24 hours notice
he said banks had shown willingness to consider new loans to venezuela a fundamental achievement in the new accord
yesterday usda issued a report showing that only slightly more than 50 pct of the 385 billion dlrs in pik certificates it has issued to farmers in lieu of cash payments had to date been exchanged for grain
the board declined to grant that permission
the reference was to ges chairman
nichemen 10000 tonnes number two ns dns wheat 140 pct protein for may 25 june 20 at 12189 dlrs fob gulf
temperatures were too low for the season and the rain has hampered field work and occasionally led to water logged fields
world bank launches 300 mln markka bond issue
traders said it appears that the industrial nations known as the group of seven lack the ability to change the long term direction of the currency markets
with the economy recovering strongly the steep drop in stock prices is not likely to put a major dent in consumer and business confidence one government economist said
metal box plc mbxll is issuing 60 mln stg of convertible eurobonds due april 28 2002 with an indicated coupon of 5 3 4 pct to six pct and priced at par swiss bank corp international ltd said as lead manager
vlsi vlsi plans debt offering
they warned of a severe drought if the prevailing conditions continued until next month
japan us set to begin high level trade talks
it said it plans to hire the majority of lazeres 100 employees
an investor partnership seeking to acquire gencorp inc said it would attempt to unseat the companys board of directors and take other hostile actions if the firm refuses to discuss its 23 billion dlr takeover bid
ec executive commission president jacques delors told the meeting the authority would put forward proposals for a final phase of capital market liberalisation in october that would include safeguard clauses for member countries for which the move would create difficulties
kellwood kwd buying three companies
the change reflects the companys improvement in retiring debt incurred in the the acquisition of general foods corp and the ability of both the tobacco and food product lines to generate cash flow duff and phelps said
he said sudan had reached agreement with the soviet union and its east european allies to service half of its debts to them in commodities with the rest in hard currency
the west german government is raising its total tax cuts in 1988 by 52 billion marks to 144 billion
but he said the market is sensitively looking at what is happening in major nations
the government said the icebreaker was needed to back up the countrys claim of sovereignty in the arctic
finally some industry sources said that by buying the minimum amount of corn guaranteed under the us ussr grains agreement four mln tonnes the soviet union may be hoping to convince the usda to offer moscow a subsidy on wheat
the payment date is may 7 and listing will be in luxembourg
however rep
todays surplus is seen at 480 billion yen mainly excess bank holdings due to big bank of japan dollar purchases on march 25
it had opened here at 14185 yen
the company said if it is approved the sale will mark its second move to acquire a florida bank
in addition he said he expects no problems in having the deal cleared by the antitrust division of the us justice department
the ministry now pays coupons in january june july and december
dumez investments inc said it is accepting and paying for 478125 shares of united westburne industries ltd in response to its 25 dlr per share tender offer and it has extended the offer until june 26
the current account deficit would narrow to five pct of gdp this year and 43 pct in 1988 and net foreign debt would grow strongly from 81 billion at the end of 1986 to 972 billion at end 1987 and 1103 billion a year later
it said eight of the nine holes drilled there have an average grade of 0046 ounce of gold and 21 ounces of silver per ton
the treasury secretary also called for the iadb to improve its analysis of the policies of debtor countries strengthening its process for assessing the specific needs of debtor nations
the negotiators also agreed to cut 16 billion from the farm budget in fiscal 1989 and 245 billion in 1990 for a total of 53 billion in saving over three years sources said
british land convertible bond raised to 33 mln stg
yaacobi said export growth must increase ten to eleven pct annually the rate achieved until the 1973 yom kippur war
the state must set an example by keeping wage increases below the inflation rate he said
the figure which excludes construction and public works put the february index base 1980 at 102 after 99 in january
the qtr and year 1985 includes a 6000000 provision for restructuring costs related to the sale of its energy business and parts of its bearing business
first union corp said it has filed with the securities and exchange commission for a proposed offering of 100 mln dlrs of fixed rate subordinated notes due 1997
several dealers and analysts added that market forecasts of a rise in reserves of between one and three billion dlrs had overestimated the amount of pound sales that were likely to have been disguised by swap arrangements or transactions on the forward market
the trade deficit with japan for all of 1986 rose 111 billion dlrs to 546 billion dlrs and with western europe increased 72 billion dlrs to 286 billion dlrs
mcandrews said terms of the acquisition have not been determined and are subject to the acquisition of financing
note companys full name is british telecommunications plc btyl third quarter turnover 240 billion stg vs 211 billion making 701 billion vs 616 billion for nine months
its bid is subject to firb approval
about 60 pct of the maize will be delivered by large scale commercial farmers and the balance by small scale peasant producers
i think it was improper for us government officials to intervene to the extent they did he said
shr 40 cts vs 75 cts qtly div 15 1 2 cts vs 15 1 2 cts prior net 117 mln vs 214 mln revs 4475 mln vs 4452 mln nine mths shr 104 dlrs vs 199 dlrs net 299 mln vs 568 mln revs 130 billion vs 128 billion note full name is yellow freight system inc
there were wire problems at two large banks on tuesday and wednesday so i am not too bothered about the borrowings said scott winningham of js winningham and co
trans world airlines inc said chairman carl c
japanese tariffs seen as worldwide warning
to the fed the combination of a falling dollar a steepening yield curve and rising commodity prices look suspiciously like the traces of expectations of accelerating inflation said denis karnosky analyst at carroll mcentee and mcginley inc
the shareholders said they were told that continental materials directors had no interest in selling the company
the bid from rhm rejected by the food and bakery group is worth about 270 mln stg
purolator lost 576 mln dlrs on 8414 mln dlrs in revenues
manila banking sources said the situation was serious at nmic set up by dbp and pnb in august 1984 after the two banks foreclosed on the assets of marinduque mining and industrial corp over a 17 billion peso obligation
moodys investors service said it has confirmed its ratings on about 44 billion dlrs of outstanding securities of public service electric and gas co a unit of public service enterprise group inc
ec farm ministers to meet tomorrow after summit
it has provoked strong protests from domestic producers as well as foreign exporters led by the united states
jordans key economic priorities are having a sound national treasury and adequate foreign exchange reserves prime minister zeid al rifai said
china is the most promising market although mhi also considers other non oil producing developing countries as major customers
the company said it extended its debt by borrowing 15 mln dlrs and paying off its existing term loan of 3100000 dlrs resulting in a new debt of 119 mln dlrs
fundamental brokers buys part of mki brokers
eastern utilities associates 3rd qtr net
pharmacia said the financial deficit was caused by it having used more funds than generated by group operations mainly because of the 136 billion it paid in cash for shares in lkb produkter ab and the assets of intermedics intraocular inc
it said conditions of the proposal include obtaining necessary financing satisfactory completion of a due diligence investigation by laidlaw and execution of employment contracts with key employees to be designated by laidlaw
the bankers noted that although rolls royces debt will be negligible after privatisation it wants to have a range of financing arrangements available to allow it to take advantage of market opportunities when they become available
zimbabwe has confirmed an outbreak of the animal borne hoof and mouth disease which prompted botswana on thursday to stop imports of almost all zimbabwean meat products
the company said it filed a registration statement with the securities and exchange commission to sell 40 mln dlrs of convertible suborindated debentures due 2007
salem corp sbs 4th qtr loss
dutch parliamentary parties have re affirmed their support for the governments opposition to the proposed european community tax on oils and fats parliamentarians said
copenhagen telephone 600 mln french franc issue
csfb said final terms to be set around march 12 anticipate a conversion premium of 20 to 25 pct
the ldp expects the measures to prop up the economy and lessen trade problems with the us they added
general partners to raise bid for gencorp gy 
most of the fall in plantings was expected in western australia while state average yields would be assisted by growers sowing wheat on fallows and rest paddocks it said
the senate republican leader said the 0 92 option posed two problems
this compares with the governments 1986 87 deficit figure of 292 billion against an earlier forecast of 245 billion
there is no intention of making any sort of approach to purolator the spokesman told adding it would be a case of david versus goliath interlink shares started trading in the uk unlisted securities market in october 1986
ongpin said the philippines 7 1 2 year grace period was better than mexicos seven year grace period while the pins proposal would result in savings of foreign exchange and generate pesos which would be reinvested in domestic enterprises
standard federal bank said it introduced a zero point fixed rate mortgage loan
its far more comprehensive and broad than that and the solution of it requires a comprehensive approach baker said in the interview
the navy was unloading 74000 tonnes of foodgrains from two ships today and four vessels laden with some 90000 tonnes of grains were waiting at the outer anchorage port officials said
panhandle eastern also said it had budgeted 78 mln dlrs for its 1987 capital spending program an increase from 65 mln dlrs spent last year
his plan would guarantee a certain deficiency payment to participating farmers require that idled acreage be put to conservation use only prohibit haying and grazing on extra idled acreage limit participation to a certain number of acres in a county and provide tenant protection provisions
basically their policies are pretty much the same but that did not mean europe would support the us or that the ec would climb on the bandwagon to take advantage of the us dispute to press its own claims wolf saidbasically europeans have a different approach to trade problems he said
nigel lawson british chancellor of the exchequer was among those who said the treasury secretarys statements helped spur a wave of stock sales by making already jittery investors think that a clash between the two major economic powers would damage the world economy
the fed is not likely to ease policy much further without a full blown recession said raymond stone chief financial economist at merrill lynch capital markets
smith who flies to brussels today for talks with european community ec officials told the committee wanted to stress gatts importance and did not discuss specifics
details of the venture to be based on exxon chemical technology will be set later the companies said
us officials singled out the inra as the one commodity agreement that seems to be working
commonwealty realty crtyz bay bay end talks
enquiries antwerp 1 3 ports greece 40000 mt bagged sugar indications 750 750 in shipments of 10000 15000 tonnes spread from may to july a c unnamed charterer
matsushitas shares closed on the tokyo stock exchange at 1640 yen down 50 from yesterday
selkirk communications ltd 4th qtr net
the target zone would not affect our market i think at all a 10 pct range in the deutsche mark gives us a healthy market melamed told in an interview
chile achieved gross national product growth of five to six pct last year and quadrupled its trade surplus from 1984 despite lower prices of key commodity exports like copper
additional payments may be made annually through the year ending march 31 1991 to bring the total consideration up to 95 pct of clevelands average post tax profits in the last two years of the period
a spokesman for the firm linked the rise to two aircraft deliveries in 1986
saudi oil company gets new acting governor
the selling concession is 1 3 8 pct while management and underwriting combined pays 1 2 pct
mead said proceeds will be used to retire short term debt a portion of which was incurred to finance part of the recent acquisitions of ampad corp and zellerbach distribution group
no major market can keep its status without change he said
imports were set to rise by 45 pct this year compared with four pct in 1986 in volume terms the cpb said
it also wants lower interest rates on its foreign debt
the united states also has vented its anger at what it sees as japanese attempts to limit foreign participation
union bank of finland is issuing a 10 billion yen eurobond due march 30 1992 paying five pct and priced at 102 3 8 pct lead manager ltcb international ltd said
this gave hawaiian telephone a strengthened capital structure and cash flow in both regulated and non regulated businesses
spot market and netback values for some crudes do not mirror official prices but opec will probably keep the 18 dlr target and at most make minimal changes to differentials analysts say
high wage settlements in nordic countries threaten to cut exports and reduce the international competitiveness of their industries the organisation for economic cooperation and development oecd said
the company said it was in the course of arranging these facilities
but the two sides may agree to extend the deadline for a few days as ec commissioners willy de clercq and frans andriessen are due to visit washington from july 7 to 10
upon completion of the proposed transaction woodhead faulkner will become part of simon and schusters international group which in the uk includes simon and schuster trade books and prentice hall academic texts
the companies said the acquisition will result in a restatement of conagras earnings for the fiscal year ending may 31 but the restatement is not expected to materially change the previously reported or upcoming fiscal year end earnings
amoskeag amos proposes class b shares
taft broadcasting yesterday however said financial advisor goldman sachs and co found the offer to be inadequate
the issue is available in denominations of 5000 dlrs and will be listed in luxembourg
it also won over the french midi pyrenees development authority which agreed to sell aga its 20 pct stake in duffour et igon
professional tax preparers accounted for just over 43 million forms according to the irs
the bank also set a lira mark rate of 42915 43130 to the mark up from the previous 43050 43265
the company said it is well positioned to capitalize on profitable opportunities in its core business areas and will continue to invest to increase revenue and asset values
but i think they are very satisfied with the present level but i have made it absolutely clear that i dont want to see the pound go through the roof he added
a spokesman for a smaller refiner said well have a hard time surviving but thats something we must go through in addition to our streamlining and efficiency programs for the oil division we will exert efforts towards branching out further into other lines such as real estate and travel agencies he said
after mondays talks the us and west german governments made it clear that the louvre currency accord pieced together in paris in february was still in effect
norway not an opec member decided in june to extend the production restraints enforced since february 1 1987 on all its north sea fields for the rest of the year
national guardian corp said it has acquired a number of security services companies recently with aggregate revenues of about 3500000 dlrs for an aggregate cost of about 2700000 dlrs
ted turner chairman would retain a 51 pct interest a turner broadcasting spokesman said
there is now a real push to our exports and a bit of a curb to our imports the official news agency mti said today hungary would devalue by eight pct and it expected the new rates to be announced later today
the philippines in addition as a large borrower nation is affected by developments in interest rate levels around the world and will carefully monitor the impact of these developments on interest rates on gold and on commodity prices aquino said
he said allied lyons has a two year call option that could force gulf canada to sell its 49 pct stake to allied lyons and gulf canada has a two year put option that could obligate allied lyons to buy its 49 pct
laenderbank managing board member herbert cordt told that demand had been strong throughout europe
gurria said mexico hopes to close the books by the middle of april in time for a drawdown by the end of april
in addition it bought 294 mln stg of paper for resale to the market on march 30 and 147 mln stg for resale on april 8 in both cases at an interest rate of 10 7 16 pct
terms of the sale were not disclosed
japan deeply concerned over the increasing threat to the ships navigating in the gulf understands the circumstances that have led the united states government to take these measures the foreign ministry said in a statement
internatio mueller nv intnas said it will acquire promac controls inc of canada but declined to comment on the amount of the payment which will be in cash
bulk movement was 2328368 against 2139383 a year earlier
the non callable bond is available in denominations of 1000 and 10000 stg and will be listed in london
we believe the kuwaitis have also approached the soviet union about the possibility of using soviet tankers to ship their oil one of the officials told 
the borrower has the option of redeeming the bonds from 1994 at 100 3 4 then declining by 1 4 point annually until maturity
tamura corp is issuing 70 mln swiss francs of five year straight notes with a 4 3 4 pct coupon and par issue price lead manager swiss bank corp said
staodynamics inc sdyn 4th qtr net
rmj is the holding company of rmj securities one of the largest us government securities brokers
the paper would be investor driven with the bank gauging demand through the dealing panel which would also offer a liquid secondary market hand said
but the company said it has become aware of some possible accumulations of its stock has has received some friendly inquiries
combustion engineering inc said it has completed the previously announced acquisition of accuray corp in a merger trasaction that closed friday at 45 dlrs per share
yeutter said the problem with international trade talks was that they tended to get bogged down for years
but feinberg said there is a better chance a transaction could be completed because of the revised structure of the offer
effective today the new prices are 03 pct sulphur 2250 dlrs up 125 05 pct sulphur 2185 dlrs up 160 one pct sulphur 2010 dlrs up 70 cts two pct sulphur 1985 up 75 cts 22 pct sulphur 1925 dlrs up 90 cts 25 pct sulphur 1880 dlrs up 120 the company said
in contrast to the last two years more competitive exports boosted by the fall in the dollar should help gnp growth
the bankers also expressed disappointment gros could not give assurances as to when interest payments on the 68 billion dlrs of medium and long term debt would restart
the ico board also reviewed export statistics and stock verification
it said it is selling 500000 shares and shareholders the rest
hes trying to overhaul and improve the image of the dearptment store business another reason is that revlon has recently made two other acquisitions
the merger took place after an agreement was reached with the federal trade commission that certain domestic polyester textile fiber assets of the combined companies would be divested it said
qtly div 25 cts vs 25 cts prior qtr payable 10 june record 15 may
the goodwood securities are now held by the commercial affairs investigation department the banking sources said
the bank of england said it provided the money market with a further 30 mln stg assistance
lawson said financial markets seem to believe that japanese measures outlined in the louvre accord were the source of weakness for that agreement
manila officials split over debt strategy
at the recent talks among the six major industrialised nations in paris japan promised to work out a comprehensive economic package to boost domestic demand which in turn would help increase its imports and reduce its trade surplus
a total 118350 tonnes of current series white sugar received export rebates of a maximum 46496 european currency units ecus per 100 kilos at todays european community ec tender the uk intervention board said
the us no
finance minister kiichi miyazawa said that the dollars drop today to 145 yen is partly attributable to the perception inside and outside japan that the country has failed to fulfill its promise to expand domestic demand
we have to be patient for two or three weeks
totals reserves amount to 75 billion cubic feet of gas and 55 mln barrels of oil and condensate it said
state run tanzania railway corporation trc has secured 256 mln dlrs aid from banks and european countries for a one year emergency repair program transport minister mustafa nyanganyi said
french reserves fall on debt repayment
earlier this month the ministry approved a plan to expand the securities industrys share in the syndicate to 262 pct from 26 pct from april to allow six foreign securities firms to participate he said
the federal reserve entered the us government securities market and offered to buy all maturities of treasury notes and bonds a fed spokesman said
in the longer term capital expenditure will amount to 10 pct of net sales
the companies on march 10 announced that they had signed an agreement in principle for the acquisition
treasury secretary james baker the reagan administrations chief economic architect has preferred to use the so called group of five industrial countries or sometimes seven as a forum to work out cooperative agreements on currency and other economic matters
listing will be in london and the bonds will be sold in denominations of one mln yen
qtr ended feb 28 shr 35 cts vs 38 cts net 1682047 vs 1817820 revs 361 mln vs 299 mln six mths shr 73 cts vs 75 cts net 3518515 vs 3606689 revs 741 mln vs 627 mln
saudi arabias king fahd said last month that he wanted oil prices to remain stable for the next two years
he also said that the south korean won should begin to move to reflect underlying economic fundamentals otherwise in two or three years time korea will be in the same situation that prevails in taiwan turning to the us deficit with japan of more than 50 billion dlrs yeutter said that this situation was not sustainable
avg shrs and shr data restated to reflect three for two stock split in january
moreover baker the consummate politician was worried that the republican party might face next years presidential election with its main showpiece a vibrant economy badly tarnished
this is the second day running that exporters have reported corn sales to unknown destinations
the company said the mine would produce approximately 158000 ounces of gold per year over the first four full years of operation from 1989 through 1992 and at an average 133000 ounces a year over the full projected 11 year life of the mine
in his speech heyman said he feared too many chemical companies were attempting to specialize in the same high margin niche products
the accord provided for a stand by loan a compensatory financing facility and a structural adjustment facility
about 57 mln dlrs of debt is affected
the transaction is expected to close in july the company said
spending on major projects is expected to total more than 120 billion taiwan dlrs in 1987 88 compared to 89 billion in the current year he said
denman also took exception to us efforts to seek reciprocity in specific trade sectors
commerce secretary malcolm baldrige said the united states would go ahead with planned 300 mln dlr sanctions against japanese semiconductor exports despite any us japanese talks to avert the trade curbs
but the official denied the plan amounts to interest rate capitalisation a development until now unacceptable to the banks
he said that if china wants to obtain gsp status it will have to lobby congress itself to persaude it to amend several laws which currently prevent peking getting such status
as the dollar goes so goes the bond market said dean witter analyst karen gibbs
autospa corp said it has signed an agreement to purchase 2400000 shares of eight pct convertible preferred stock of cardis corp representing voting control for 15 mln dlrs
a bonus of 3744 dlrs per tonne was awarded to continental grain co on the shipment scheduled for april 8 16 melvin sims usda general sales manager said
fiat spa fiatmi declined to confirm or deny an italian newspaper report that it was studying the possibility of issuing a convertible bond
the department said the upward trend in non oil export volume continues and the underlying level of non oil import volume seems to have stablised
the bill will be the cornerstone of congressional efforts to restore competitiveness of american industries and turn around last years record 169 billion dlrs trade deficit
philip fricke of goldman sachs and co falls in the middle of the bulls and bears
csm systems inc csms year ended dec 31 loss
under the proposals usda would offer vegetable oil under the export enhancement program eep to four countries including 80000 tonnes to turkey and 60000 tonnes to algeria morocco and tunisia industry sources said
he also expects the company to raise its annual dividend about 20 to 30 cts a share from its current dividend of 320 dlrs a share and a stock split is possible but it has a low probablility
the two are due to visit japan later this month for farm talks
analysts say ussr may prefer new crop us wheat
this brings the banks total help so far today to 344 mln stg and compares with the estimated shortage of around 13 billion stg
rospatch earlier requested its stock be halted in over the counter trading last trade 24 1 8
the delivery of about 80 mln dlrs worth of plywood in addition to lumber hinges on whether the us department of agriculture will interpret plywood as an agricultural commodity under the credit guarantee program he said
he said at 46 dlrs per share heymans average cost for the companys stock would be 44 dlrs per share based on gafs current holdings
there was no immediate comment from pdvsa officials in new york
the facility will include a tender panel to bid for multi currency cash advances at a maximum rate of 01875 pct over the london interbank offered rate
theres no question about it the longer you feed the calf on the cow the longer it is to wean it in recent months usda has offered subsidies on a growing list of commodities to an increasing number of countries
higher crude oil prices will raise demand for natural gas helping it to reclaim market share lost to heavy oil when prices plunged in 1986 analysts said
the bank said that if these loans remain on non accrual for the remainder of the year net income for 1987 would be reduced by about 49 mln dlrs
hiram walker resources ltd the previous owner reported liquor profits of 282 mln canadian dlrs in the fiscal year ending sept
however falling orders and declining international competitiveness due to the strong yen led to heavy losses in the industry the sources said
the lebanese pound fell sharply against the us dollar again today with dealers attributing the decline to continued political uncertainty
it also excludes from payment any output exceeding 20000 short tons raw sugar per grower
other members of the mdp which includes the communist party and a faction of the socialist party took five of the principal positions on the unions directorate
senate majority leader roger moe was quoted as saying he would be inclined to support any action that would help the company the spokesperson said
denman noted britain remains opposed to the plan and west germany has opposed it in the past
the notes will be issued by its iel finance ltd unit
the two steelworkers locals representing the office and technical workers have not negotiated since may 21
lambert has sold 240 mln common shares to other board members advisory board members alan h
it said the acquisition would probably also include affiliate disc o mat inc which operates a number of record and tape stores in the new york metropolitan area
analysts doubt fed firmed despite borrowing rise
sales during the first five months to february was 126 billion marks 467 pct down from the same 1985 86 period
fishoil imports fell to 190600 from 265600 and exports to 56500 from 85500 tonnes
the meeting is also part of preparations for a full scale conference of the general agreement on tariffs and trade gatt in venice in june
the measures proposed include a large supplementary budget and record public works spending in the first half of the financial year
the notes will be bought back at par
shr 57 cts vs 27 cts net 1002000 vs 470000 sales 159 mln vs 120 mln note 4th qtr data not available
amortizations on the loan were not due to begin until 1990 but the philippines agreed to make the extra 111 mln dlr prepayment in order to win a relatively low interest margin of 7 8 pct over eurodollar rates bankers said
no change in the british governments attitude is expected before the countrys next general elections due by mid 1988
i cannot see any chance for a real turnaround rise in the dollar viermetz said
the unit delivers mainly to the car industry
it put the 1985 86 crop at 7810 mln tonnes vs 7810 mln tonnes last month
series b preferred shareholders had previously rejected carlings proposal to redeem the shares and a series a preferred shareholders meeting was adjourned to june 12
the convertibles are rated b 2 by moodys and bb minus by s and p
a widening gap between austrian rates and cheaper west german credit along with forecasts of slow austrian economic growth this year also justified a further interest drop he said
agl said its offer is above the upper end of the range of values placed on tmoc by its advisers in the companys response urging rejection of the elders resources bid
trico industries inc said it has received a six mln dlr contract to supply hydraulic lift equipment for heavy crude oil production for the chinese ministry of petroleum industry
more than 60 people were injured in pitched battles between police and steel foundry workers in reinosa last month
the parent company said it signed a letter of intent to sell the stock to wasa europeiska forsakrings ab of sweden europeiske reiseforsikring a s of norway and europeiska rejseforsikrings a s of denmark
franco nevada stock is up two at seven dlrs per share on the toronto stock exchange
bank of japan re enters market and steps up dollar buying dealers say
the united states section 22 waiver is one of the basic flaws in the gatt coverage of agriculture arnott told the meeting
under a 125000 bpd contract signed in february the saudis agreed to supply oil to brazil until june
shr loss 15 cts vs loss five cts net loss 17334 vs loss 51507 sales 245560 vs 179839 six mths shr profit four cts vs loss 17 cts net profit 47749 vs loss 174373 sales 721937 vs 284809
funaro said on saturday in washington that brazil would not have suspended payment on its debt if it had received more and faster financing from international agencies
kansallis osake pankki launches 100 mln dlr bonds
a british minister said that a proposed european community tax on vegetable oils and fats would raise the price of fish and chips and he pledged the government would fight against it
reef energy rfen enters pipeline agreement
merrill lynch said its insurance revenues made the biggest gains in the first quarter rising to 2423 mln dlrs in the this first quarter from 683 mln dlrs in last years first quarter
world bank loans pakistan 220 mln dlrs
he would not estimate the contribution of each segment to earnings per share for the year
the acquisition if subject to international american arranging financing
housing starts fell 27 pct in may and consumer spending rose a weak 01 per cent
1986 year includes 41 mln dlrs 1st qtr writedown
he said he had no comment on a proposal by house speaker jim wright d texas to tax securities transactions
the bill would allow us agricultural producers to seek government monitoring of imports if there is a reasonable chance the industry would be harmed by an import surge
net includes loan loss provisions 1092000 dlrs vs 790000 dlrs in quarter and 3089000 dlrs vs 2584000 dlrs in nine mths
shamrock completes central soya sale to ferruzzi
several officials said they did not see any fundamental reason for the dollars recent sharp fall
payment will be due on june 1
ec oilmeal demand rose 100000 tonnes in august from a year earlier with soymeal up 45000 tonnes
japanese trade representative tsomu hata told an informal general agreement on tariffs and trade gatt meeting that in addition to demand boosting measures adopted last september a comprehensive economic program will be prepared after the 1987 88 budget is approved
the houston based company said it sold an average of 339 mln cubic feet of domestic natural gas each day last year a 17 pct drop from 1985
before seasonal adjustment the number of homes actually sold in january was 53000 up from 49000 in december but down from 59000 in january 1986
first federal savings bank of delaware said its agreement to negotiate exclusively for its sale with oxford financial group has been extended until april 8 from march 18
but seng said the cut will not benefit consumers or us meat exporters because of japans rigid and complicated distribution system and strict supply control by the lipc
natural gas production fell to 5360 mln cubic feet a day from 5910 mcf a day
the cwe is a semi government body and the official said arrangements are being made for state cooperatives and holders of food subsidy stamps to draw their sugar from it starting april 1
direct investment recorded a turnaround to a 104 billion dlr inflow in the fourth quarter from a 57 mln withdrawal in the third quarter against a 546 mln inflow in the fourth quarter of 1985 the bureau said
but others noted the feds current add need is not large
the bank of england said it drained liquidity from the money market when it sold 167 mln stg of treasury bills due march 27 at rates between 9 9 16 and 10 pct
the agency said the rise in the merchandise surplus to 277 billion dlrs from 220 billion dlrs in the third quarter was more than offset by high deficits in servicies and investment
oper shr loss 199 dlr vs loss 488 dlrs oper net loss 291 mln vs 708 mln revs 348 mln vs 848 mln note 1986 and 1985 oper net excludes a loss of 55 mln dlrs or 37 cts a share and 646 mln dlrs or 443 dlrs a share respectively for discontinued operations
the appeal is unlikely to be heard for several months but a case brought by fellow itc creditor maclaine watson is to be heard on april 28
japanese officials say they are implementing the report as fast as they can said a european ambassador who has travelled the country asking about this issue
ample supplies of opec crude weighing on world markets helped limit and then reverse oil price gains that followed the us strike on an iranian oil platform in the gulf earlier on monday analysts said
the bank said the project will benefit small and medium sized industries primarily in yugoslavias republic of slovenia
the company said about 165000 shares of tiger common stock will be issued in connection with the interest payment
virco manufacturing corp vir 4th qtr net
one of the problems britain could face if it were to withdraw licences for japanese banks would be that the bankers would be welcomed with open arms in frankfurt or amsterdam they point out
net profit at ciba geigy dropped by 21 pct to 116 billion francs while sales fell by 12 pct to 1595 billion francs
although local banks tried to follow suit turkeys exports declined last year to 74 billion dlrs from 79 billion in 1985 and bankers doubt there is enough business to go round
it attributed the acceleration to higher fuel and water prices
buyers and sellers can either agree on a price between them and register the deal with the industrial and commercial bank that will run the new market or entrust the bank to make the deal it said
excessive issue of participation certificates which do not carry voting rights would also be contrary to the principle of greater democracy in the new share law before parliament
both leaders stressed the long ties between france and the united states during a welcoming ceremony in the white house east room with reagan describing france as americas oldest ally in war and peace i have come to tell you that we are remain motivated by the same ideals of freedom by the same will to face the dangers which we both confront terrorism war hunger poverty new diseases and drugs chirac replied
at march 1987 prices the three most likely cost price scenarios call for a long run aluminium price of between 73 and 895 cents a lb depending on exchange rates bird said
1987 qtr and nine mths includes gain of eight cts per share for the partial redemption of series a preferred stock which will be paid from the net earnings of the chemicals operations
martin bachem of morgan guaranty said his banks issue was competitive despite its relatively high premium
computer associates ca uccel set merger
speaking at a news conference before a scheduled speech lyng said he did not think the tax which is still in the discussion stage would be approved
us senate hits ec oils tax vows retaliation
penril further said director clifford l
terms were not disclosed
jack welch doesnt want any more exposure to defense markets said one analyst who heard the rumors but doubted their accuracy
bank of england said it invited borrowings at 10 pct later today
espinosa said yesterday the pipeline which carries crude from jungle fields to the pacific ocean coast of balao would be repaired with the help of texaco inc txn and a mexican and an argentine firm
the bank has also been run for the past 12 years by a mexican antonio ortiz mena who has been increasingly critical of us debt strategy in the last two years
oper shr 55 cts vs 36 cts oper net 207 mln vs 136 mln sales 234 billion vs 158 billion avg shrs 381 mln vs 377 mln year oper shr 182 dlrs vs 148 dlrs oper net 690 mln vs 561 mln sales 783 billion vs 662 billion avg shrs 380 mln vs 378 mln notes results for 13 and 53 week periods ended feb 28 1987 and 12 and 52 week periods ended feb 22 1986 operating net excludes credits from tax loss carryforwards of none vs 53 mln dlrs or 14 cts a share in quarter and 260 mln dlrs or 68 cts a share vs 322 mln dlrs or 85 cts a share in year company had 1200 stores inoperation at year end vs 1045 a year earlier
the company said it will issue 200000 shares of its common at closing and additional shares based on federal protections pretax earnings over the next three years
samedan a noble unit is operator and owns a 60 pct working interest in the well
gatt sets up dispute panel on canadian herring
us defense officials told yesterday that kuwait had decided for at least the time being not to accept a us offer to use american warships to escort its tankers in the gulf where both iran and iraq have been attacking shipping
thailands m 1 money supply rose 98 pct to an estimated 1173 billion baht in january after increasing 66 pct in december the bank of thailand said
de groote also said the company expects excellent results in the second quarter ended february 28 but would not be more specific
public concern has focused on the way guinness may have breached uk company law and the takeover code by prompting others to support its share price during the bid
it also alleges there would be anti trust violations if samjens formed by asher edelman and dominion textiles inc of canada were to succeed
the company earlier reported net income of 765 billion yen in the three month period ended january 31 down 592 pct from a year earlier on sales of 34306 billion down 63 pct
cumulative purchases so far this season stand at 217235 tonnes ahead of the 203884 tonnes purchased by the 23rd week of last season the board said
asked on nbcs today program if the united states was prepared for a major war with iran weinberger said well we are prepared i think for whatever eventualities emerge from this situation but we dont look on it as a war
jucker told a news conference that the greatest drain on its financial resources had been stopped but after extraordinary charges the net loss of 688 mln francs in 1986 was only slightly under the 756 mln loss of the previous year
ec sugar tender seen marking no change in policy
feb 28 end shr profit 11 cts vs loss 37 cts net profit 3027000 vs loss 104 mln revs 223 mln vs 199 mln avg shrs 286 mln vs 290 mln nine mths shr profit 34 cts vs loss 22 cts net profit 9560000 vs loss 6072000 revs 719 mln vs 647 mln avg shrs 285 mln vs 279 mln note prior year net both periods after 152 mln dlr writeoff
the bundesbank left credit policies unchanged after todays regular meeting of its council a spokesman said in answer to enquiries
but ec oilseeds production has risen dramatically since then
for the week ended march 29 there were an estimated 77000 boxes of early and midseason and 945000 boxes of late season oranges harvested the usda said
he told a press conference that the growth of japanese money supply remains high
the paper said the 16 mln strong regular army contributed less than one pct to the nations 182 mln tonne food output
usda estimates soviet wheat coarse grains
analysts said they also expect crude oil stocks to build between 15 mln barrels and three mln from the 325 mln barrels reported by api for the week of may 22
unilever has improved margins volumes in 1986
we are not legally authorized to do that he said
nevertheless we expect to find enough common ground by the end of the week to at least present a common european community ec view at the next meeting of consumer members of the international coffee agreement ica in july one trader said
the group of seven the united states japan west germany france britain italy and canada therefore repeated their willingness to continue close cooperation to foster exchange rate stability
net includes pretax unrealized loss provision recoveries related to marketable securities of 580000 dlrs vs 824000 dlrs in quarter and recovery 640000 dlrs vs provision 366000 dlrs in nine mths
there are light oversupplies now but opec has ensured there will be no oversupplies in the fourth quarter and is in effect putting pressure on end users a european crude oil trader said
it said it received an option from three principal shareholders for 40 pct of countys outstanding
the market requested and was assigned 8584 billion lire of the 11500 billion lire of 12 month bills offered at a net annual rate of 902 pct down from 905 pct previously
chrysler gets the jeep franchise and the new amc bramalea ontario plant and the new renault premier mid sized car and amcs sales will go up because buyers will have more confidence that the manufacturer will still be around to service the products glantz said
german finance ministry confident of maintaining currency stability at around current levels spokesman
the team will lay the groundwork for high level emergency talks next week aimed at defusing an increasingly bitter row over trade in computer microchips officials said
ehrlich bober eb starts trading on amex
holders of fewer than 455 southmark shares who would receive rights to acquire fewer than 100 american realty shares will be paid cash in lieu of the rights distribution the company said
fees consist of 5 8 pct for management and underwriting including a 20 basis point praecipuum and 1 1 4 pct for selling
extraordinary items included a 53 mln dlr profit on the sale of properties and investments less a 28 mln provision for reorganising the big w chain
but within a year the plan has all but collapsed
urban visiting the swedish capital to deliver a lecture at the foreign policy institute announced earlier this week that poland would soon offer shares to private citizens in state companies in a bid to make the economy more responsive
float ranged from about 250 mln dlrs on thursday to between one and 125 billion dlrs on monday and tuesday
this compared with a revised rise of 05 pct in february and 111 pct in the year to end february
robert heller a member of the board of governors of the federal reserve system said commodity prices could form a useful guide for setting domestic and international monetary policy
alcan aluminium ltd
its life activities also grew 39 pct with better underwriting results in the second half
each of the original 17 foreign brokers had a 007 pct share but the securities industry said in a report accepted by the ministry that it decided to raise the share of some foreign firms due to their commitment to the japanese market
but the countrys labour unions have called a general strike for wednesday to press for a suspension of the program
in february ec industrial policy director heinrich von moltke came to japan and said i only know that your government under the leadership of maekawa points to restructuring your economy into a less outward looking more inward looking one
the books will be reopened around april 24 when redemtion notices are mailed
trico tro sets date for acquisition vote
philippine coconut agency gets new administrator
nomura repackages danish issue as zero coupon bond
because of its arrears guyana has been unable to draw down a 40 mln dlr world bank loan for a bauxite industry rehabilitation project
new york state electric and gas corp said it has terminated its effort to acquire corning natural gas corp
prominent us grain trade representatives many of whom asked not to be identified continue to maintain that an offer to subsidize four mln tonnes of wheat is imminent
southern union co said it filed with the securities and exchange commission a registration statement covering a 50 mln dlr offering of 10 year notes and a same sized issue of 30 year debentures
willamette industries wmtt 4th qtr net
younger said london had given us companies contracts under conditions of fair and open competition
it added that it has also considered but not yet decided to buy additional atcor shares either in the open market in private transactions through a tender offer or otherwise
construction will start late this year with completion set for mid 1989
union said it is no longer bound by the agreement and is continuing to seek a buyer for the interest
fed expected to add reserves via customer rps
krupp stahl ag krpbf said it will cut about 2000 of a total 18000 jobs by the end of 1987 and is considering reducing the work force by a further 3000 in subsequent years
specifically i am pleased that the bond market is strong and that foreign exchange markets are stable reagan said
analysts see early one point cut in uk base rate
standard price differentials would be fixed for each origin similar to golf handicaps to determine the relative competitiveness of offers of various cocoas from different origins they said
bp bp raises north sea butane prices
schering plough sgp trademark dispute settled
the oil was for june 20 july 20 shipment at 321 dlrs per tonne cif
it did not revise its sugar consumption estimate of 253 mln tonnes for the 1986 87 sugar year ending september 30
a panamanian representative attended the meeting as an observer
the minimum amount of each tranche to be sold will be one billion francs
zimbabwes projected coffee output of 13000 tonnes for 1987 88 could be reduced by drought growers said
pakistans trade deficit narrows in february
but whatever the governments response the central bank will stick to its policy of keeping the guilder firm they say
us selling 132 billion dlrs of 3 and 6 mo bills march 9 to pay down 245 billion dlrs
kuwait has asked at least four countries including the united states soviet union britain and china for temporary use of their flags or tankers to protect kuwaiti oil shipments in the troubled persian gulf reagan administration officials said
moodys cited the companys overall losses
transfer books for both series will be closed at the close of business on april 10 to allow for selection by lot of the bonds to be redeemed ohio power said
during the negotiations consumers abandoned a proposal that the floor price be adjusted downward if the buffer stock currently 360000 tonnes rose to 450000 tonnes
it is inevitable that exchange rates fluctuate under the system of floating rates sumita said
some have suggested that the system might benefit from a formal approach that mandates intervention by countries when currencies wander above or below agreed to levels but there are major problems with this also
american petrofina apia audit report qualified
a spokesman for the state chilean copper commission in santiago confirmed there had been no damage at chuquicamata
the company said it will vigorously defend the litigation arising from the discontinued units
shultz said west germany and other nations would also do well to look at what they could do to stimulate demand
weston weston files convertible offering
venezuelas rapid agreement with its creditors soon after brazils move had been seen by the political opposition as a betrayal of debtor solidarity but de abreu praised the venezuelan negotiators for achieving a favourable deal
but the forecast for 1986 87 is well below a target of 148 mln tonnes fixed for the year it said adding bad weather hit groundnut and other oilseed crops
sri lankan tea workers launch one day protest
arlan stangeland r minn is aimed primarily at curbing imports from canada of products containing sugar and foreign foods containing dairy products
also the rating agency affirmed valeros bb minus industrial revenue bonds and b rated debentures
owens and minor inc obod raises qtly dividend
the soviet union has been a heavy buyer of yugoslav corn since october purchasing close to 15 mln tonnes in the 1986 87 marketing year according to a report from the us agriculture counselor in belgrade
she said there was some resistance to further climbs
crude oil futures followed but gasoline futures lagged
capitalized product development costs 276000 dlrs vs 640000 dlrs
hughes yesterday adjourned the special meeting at which shareholders were to vote on the merger without permitting the counting of votes on the deal
packaging systems corp said it agreed to acquire walter richter labels inc a privately held maker of woven labels based in paterson nj terms of the acquisition which is expected to be completed within 60 days were not disclosed
the commission headed by finance minister edouard balladur forecast a fall in consumer price inflation to two pct year on year at end 1988 from 24 pct at end 1987 and 21 pct last year
but rainfall in the next two or three weeks will be crucial to the size of the crop in the dry areas he said
munro said the company does not plan to increase its dividend
and we must continue to oppose protectionist pressures he added
brentwood instruments inc said it filed a lawsuit against the university of utah for publishing evaluations of its spiorscan 1000 pulmonary function testing instrument
the oecd projection which is based on assumptions of slower growth higher interest rates and actual data for the first half of the financial year is for a deficit of about 190 billion dollars it said
uk unemployment falls below three mln in may
halmi said the funds will be used for the development and production of television programming and for regular company business
those banks have taken a hard line in the negotiations because of americas strong anti apartheid policies
he said there were other variables to consider in any decision whether to close or continue the smelter located in hawesville about 60 miles west of louisville
no significant improvement was made in economic results it said adding that some successes were reported in readjusting the industrial product mix in the last quarter of 1986
stone container corp said it and southwest forest industries inc swf completed all waiting period requirements under the hart scott rodino anti trust improvements act of 1976
however food needs in central america rose worsened by drought reduced crops and civil strife
it added that jacques stern bulls chairman and chief executive officer will serve as honeywell bulls chairman of the board while jerome meyer formerly executive vice president of honeywell information systems was named president and chief executive officer
penn traffic co pnf 4th qtr jan 31 net
this is well within the capacity of the nation to service azraai said the 1986 foreign borrowing level and projected estimates of 1987 compared favourably with the peak of around 55 billion ringgit in 1982
grain usage fell 61 pct to 11 mln tonnes from 12 mln while soymeal usage fell 10 pct to 967000 tonnes from 11 mln
brazil has bought 75000 tonnes of french wheat at tender a brazilian wheat board spokesman said
employers and the port union fnv are to meet again this afternoon to attempt a settlement of the six week old dispute in rotterdams general cargo sector but neither side is optimistic spokesmen for both sides told 
the trade teams would be made up of representatives of the us agriculture department state department the agency for international development and private voluntary organizations such as us wheat associates
note in july 1986 company set a dividend on series c preferred effecting a spin off of its chemical operations
the expansion will double the facilitys pulping operation to 424000 short tons per year
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
western mining to open new gold mine in australia
india buys vegetable oils pakistan to retender
merrill mandated for iel us note
puget sound power psd redeems mortgage bonds
there were six grain ships loading and eight ships were waiting to load at portland according to the portland merchants exchange
the tax to be imposed from july would add about 375 dlrs a tonne to vegetable oils entering the ec
the 300 mln dlr issue is callable at par after seven years the company said
gibraltar gfc to buy thrift for 12 mln dlrs
m 3 money supply the governments key aggregate finished 1986 within the governments three to five pct growth target rising 46 pct compared with seven pct in 1985
terms were withheld but soo has estimated that the transaction will result in a one time after tax loss of 80 to 150 mln dlrs
hawker siddeley canada to sell unit
the sources said only one japanese company had paid the official price for iranian oil
under review are the parents baa 1 senior long term debt the finance units baa 1 senior debt baa 2 senior subordinated debt and baa 3 junior subordinated debt and chrysler canadas baa 1 eurobonds
the company will maintain its dialogue with and care for its customers in accordance with market conditions and take necessary steps to guarantee marketing its production he said
higher earnings for the period reflected reduced operating and maintenenace expenses and about 10 mln dlrs in rate increases in iowa minnesota kansas and colorado he said
shr loss 29 cts vs loss 15 cts net loss 513542 vs loss 263708 revs 38000 vs nil year shr loss 24 cts vs loss 10 cts net loss 417552 vs loss 142010 revs 171000 vs nil
venezuela concerned about the effect such a tax would have on its exports undertook a diplomatic push to coordinate strategy against such measures
united auto workers union says it supports chrysler amc merger
an officer on daiwas corporate syndicate desk said he believed this was rockwells first debt offering since 1984 when the company tapped the euromarkets
metrobanc said the merger is still subject to regulatory approval
under the plan shareholders may buy one share of common stock at 65 dlrs for each share held
the march figure was revised from 69 mln dlrs
but while production of soybeans in 1987 88 oct sept will rise to 1075 mln tonnes from 980000 in 1986 87 imports will also rise to supply a new soybean crushing plant
dealers said federal funds were trading at 6 1 8 pct when the fed began its temporary and indirect supply of reserves to the banking system
shr 56 cts vs 46 cts qtly div 29 cts vs 27 cts prior net 9089000 vs 7585000 sales 868 mln vs 830 mln note pay may 15 record may one
an agreement with the banks officials now say is expected soon
shr primary profit two cts vs loss nine cts shr diluted profit one cent vs loss six cts net profit 17156 vs loss 89594 revs 2360220 vs 3208802 avg shrs 870000 vs 1026627 note full name of company is people ridesharing systems inc
power corp of canada said it received subscriptions for 252223 shares of its recent issue of participating preferred shares for total proceeds of 43 mln dlrs
the result is that the ec is often divided over policy on third currencies accentuating what the economists say is the systems greatest weakness its vulnerability to a weak dollar
ruiz ligero attributed this drop to a lack of demand in developing countries and a rally in domestic consumer demand which rose six pct last year after 19 pct in 1985
computer memories inc which ended its disk drive operations in june 1986 agreed to acquire hemdale film corp in a transaction which will give hemdales owner control of the resulting company
lone star said the 875 pct notes will mature on march 26 1992
hovnanian enterprises hov 1st qtr may 31 net
tylan corp aid it has retained the investment banking firm kahn and harris to sell its furnace product line
zambia has stopped sending its copper exports through south africa the official times of zambia said
brazil industrial growth rate slowed in january
the dutch transport trading and storage firm phs van ommeren nv ommnas said it plans a 75 mln guilder bond issue with warrants attached
the bill which passed by a voice vote would allow so called findley payments to be made immediately rather than late this year
the underlying rise adjusted for factors such as back pay and timing variations had been steady at 75 pct from october 1985 to october 1986
elders also said it arranged for a credit facility of up to 390 mln dlrs shared equally between two canadian banks which would be available to acquire shares under the offer
the information systems group will continue strong sales growth based on recent order trends and new product introductions it said
citicorp took over vickers de costa ltd and chase bought laurie milbank and co bankers did not know if all the banks would get licenses but said jp morgan probably would as it was first to ask
he said the markets earlier optimism about opec and its ability to keep production under control have given way to a pessimistic outlook that the organization must address soon if it wishes to regain the initiative in oil prices
restrictions on investments by japanese residents have also inhibited the growth of the futures contracts in both singapore and sydney the banking sources said
oper shr loss 21 cts vs loss 95 cts oper net loss 666000 vs loss 2184000 avg shrs 3181805 vs 2310200 year oper shr loss 30 cts vs loss 23 cts oper net loss 823000 vs loss 606000 avg shrs 2757040 vs 2614225 note net excludes realized investment gains of 666000 dlrs vs 289000 dlrs in quarter and 2274000 dlrs vs 1468000 dlrs in year
mexico denies british banks balking at debt deal
the average price was 98277
but more important these issuers were able to increase loan volume and hence car sales without substantially increasing financial leverage the rating agency said
jc penney jcp up on smith barney opinion
the dollar opened at 14205 yen against 14215 25 in new york and 14250 at the close here yesterday
moodys reduced to prime 2 from prime 1 the commercial paper of dana and its credit unit
the offices being sold operate under the name of city consumer serices inc in arizona colorado illinois maryland new mexico oregon and virginia
bill proposed on international debt facility
the soviet union featured prominently in uk grain exports outside the ec for the period july 1 march 13 taking a combined total of 110 mln tonnes of wheat and barley out of all destination uk exports of 716 mln tonnes the home grown cereals authority said quoting provisional customs and excise figures
vieux called on the ec commission to help by awarding a larger volume of export certificates and said if no outlets are opened for french barley a large amount could be put into intervention
eligible corn producers will be paid 63 cts per bushel based on the difference between the 303 target price and the 240 dlr per bushel basic loan rate
the european communitys ec cereal management committee granted export licences for 5000 tonnes of quality soft bread making wheat at a maximum export rebate of 13475 european currency units ecus per tonne traders said
year to end december shr 767p vs 677p div 17p making 23p vs 21p pretax profit 1270 mln stg vs 1169 mln turnover 110 billion vs 9472 mln tax 250 mln vs 263 mln note company full name is blue circle industries plc bcill company said it proposes one for one capitalisation issue gross profit 3909 mln vs 3216 mln distribution costs 2156 mln vs 1776 mln administrative expenses 651 mln vs 589 mln other operating income 53 mln vs 110 mln share of profits of related companies 500 mln vs 581 mln operating profit 1655 mln vs 1542 mln net interest payable 336 mln vs 322 mln exceptional items 49 mln debit vs 51 mln debit minorities 34 mln vs 69 mln extraordinary items after tax 395 mln vs 42 mln pretax profit includes uk 377 mln vs 205 mln us 275 mln vs 228 mln mexico 150 mln vs 207 mln australasia 157 mln vs 132 mln africa 120 mln vs 126 mln
qtly div 19 cts vs 19 cts in prior qtr payable may one record april two
the experts say sudan owes 23 pct of its foreign debt to western government creditors 32 pct to governments of eastern bloc and arab countries and 21 pct to commercial banks with most of the rest owed to multilateral sources
kelley oil and gas partners ltd said it has agreed to purchase all of cf industries incs oil and natural gas properties for about 5500000 dlrs effective july 1
they will be a flexible supplement to negotiated deposits and will give companies and institutional investors better chances to organise liquidity the statement said
shr loss 19 cts vs profit 57 cts net loss 103005 vs profit 319344 year shr profit 22 cts vs profit 10 cts net profit 1236347 vs profit 570222
japan still asking institutions to limit speculative dlr deals miyazawa
wojnilower sees drop in us interest rates
commercial banks and life insurance companies are the main supporters of a farm loan secondary market because they believe it would allow private lenders to compete more effectively in rural lending with the quasi government farm credit system traditionally the largest lender to farmers
broader us eep sought by republican lawmakers
the new body would not aim at negotiating measures to stabilise depressed world prices
part of the cost will be met by the issue of 214 mln new ordinary bramall shares which are being placed at 265p each
a recent example was the 15 per cent duty the us imposed on canadian lumber exports on grounds the shipments were being subsidized
meanwhile usda handbook 8 10 long used as the established authority on nutrient composition indicates a fat content for center loin pork of 73 pct the nppc said
inco the non communist worlds largest nickel producer was a member of the index since 1928
the bank added it would take up 300 mln dlrs of 13 week notes at the average yield
if there is such a provision it is private and if i talked about it it would no longer be private said the official who asked not to be identified
the certificates are being extended because of a shortage of commodity credit corporation inventory available for exchange with certificates usda undersecretary danial amstutz said
owens illinois files with sec for 205 billion dlr debt offering
div 145 swiss francs per share and 29 francs per participation certificate unchanged net 179 billion vs 175 billion shr 526 vs 515 turnover 3805 billion vs 4223 billion addition to reserves 170 mln vs 95 mln
however they said an all out trade war may be far off as ec states know they would suffer almost as much as japan
the 285 mln dlr project is designed to financially rehabilitate the railway the primarily state owned ferrovia paulista sa and improve transportation on the lines leading to the city of sao paulo and the port of santos
some 131 pig contracts were settled against the meat and livestock commissions average all pigs price in february which represents hedging for over 13000 pigs more than twice the number cash settled in january the lmfe said
bank of england lends one billion stg at 10 pct
us shoe corp usr 4th qtr jan 31 net
the well one of the four structures drilled in the area 80 km north west of bombay indicates good prospects of both oil and gas
the central banker said resolving the debt crisis would be a struggle since taking over the speakership at the start of the year wright has shown himself an able political adversary of the administration on budget strategy
usair u rejects twa twa takeover bid
nickel prices are unlikely to rise significantly from current levels unless further steps are taken to reduce production shearson lehman brothers said in its quarterly nickel market report
the canadian industrial product price index base 1981 fell 02 pct in february after rising 02 pct in january statistics canada said
a drop in saudi arabian output to a tentatively forecast 33 mln bpd in march from 36 mln bpd in february was the largest factor behind the opec production decline the iea said
spi pharmaceuticals inc spip 1st qtr oper net
notes in circulation totalled 1624 billion dlrs up 76 mln dlrs from the week before
because more than half of the banks baulking at the mexican deal are american some foreign bankers think other us banks should make up the difference
but dealers said they expected the bundesbank to fully replace the outflow with a new tender at a fixed rate of 380 pct
on collateral security it said this should normally only be taken into account when considering the acceptability of a banks exposure up to 25 pct of its capital base the presence of security taken on its own will be considered by the bank as an acceptable reason for an exposure in excess of 25 pct but only in the most exceptional circumstances and even then to a very limited extent it said
in raising their prime rates banks cited a higher cost of funds
however they said it was likely that if and when the british banks sign the accord the others are likely to follow
the bank of england said it had revised its forecast of the liquidity position in the money market today to a surplus of 150 mln stg after it estimated a flat position earlier this morning
the kuwaiti response came as iranian envoys toured gulf arab states saying responsibility for security and stability in the waterway was a regional matter
the group said it filed on wednesday with federal antitrust regulators for advance clearance to buy enough additional shares to increase its total stake to up to 499 pct of the total outstanding stock
in january housing starts fell a revised 05 pct to 1804000 units
last month london broker c czarnikow estimated turkish 1986 87 production at 142 mln tonnes raw value against 14 mln in 1985 86 and an average 176 mln in the previous three seasons
japanese traders said the new pact had a chance for success as most world producers and consumers had adopted it but they questioned the ability of some financially strapped producers to finance buffer stock operations
the company said it rejected the bid as inadequate based on advice of goldman sachs and co its financial adviser
narrowly based m1 rose 955 pct to 50 billion taka against a fall of 045 pct to 4564 billion in november and a 303 pct rise to 4551 billion to december 1985 it added
the price fell from 24 dlrs to 1650 dlrs a share following the reebok announcement
at that time the company said it would create 14 new groups of such stores
primary earnings per share data calculated after deducting preferred dividend requirements
gareth lewis davies a north sea expert with stockbrokers wood mackenzie and co inc in edinburgh thought the two reliefs on prt would help the depressed offshore industry
overnight reports from tokyo said that the bank of japan was aggressively supporting the dollar but failed to push it back to the perceived target level of 150 yen
volcker said that to improve the trade deficit with a minimum of inflationary pressure the united states would have to slow its spending growth
society for savings said it will offer up to 100 mln dlrs of medium term notes with maturites of one to five years through goldman sachs and co and shearson lehman brothers inc
bic corp bic sets quarterly
the new proposal would be subject to approval by the supermarkets general board it said
kim said the policy changes were also prompted by the swing in south koreas current account to a surplus of 206 billion dlrs in the first quarter of 1987 from a deficit of 438 mln dlrs in the same 1986 period
moodys said the anticipated merger of baker and hughes tool into baker hughes inc would result in increased financial leverage at a time of weak demand for the combined companys products and services
the bank of finland had never before been allowed to issue its own cds they said
great atlantic and pacific tea co inc gap div
since those imports in 1983 84 the us has been facing increased competition from south africa in taiwan and japan
the company said it will use existing cash resources for the share repurchases
combined management and underwriting fees are 50 basis points
the spokesman gave no further details
the middle east and the gulf in particular is now australias largest market for lamb chilled and flown in
oils fats stocks seen falling sharply in 1986 87
it also controls caesars new jersey inc cjn which owns an atlantic city nj casino hotel
dravo drv to have first quarter loss
fees were not disclosed but a wako official confirmed the deal was a targetted issue
the payment date is may 6
x includes imports hard spring 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stocks 498 498 371 371 production 451 451 460 460 ttl supply x 956 956 838 838 domestic use 218 192 174 174 exports 200 190 166 166 total use 418 382 340 340 end stocks 538 574 498 498 note season begins june 1
the current borrowing limit of 30 billion dlrs will therefore constrain the ability of the exchange fund to continue to take in these fiscal reserves by the issue of interest bearing debt certificates he said
six of the seven muscle cuts evaluated in the study averaged 43 pct fat or less well below american heart association guidelines for recommended foods
singapore petroleum co pte ltd will revise pump prices of petrol from june 2 an official said
moodys said it also assigned aaa ratings to european coal and steel communitys 100 mln stg 9 3 8 pct eurobonds due 1992
the rating agency cited home shoppings plan to issue additional debt thereby increasing leverage
wheat buying however is a different story melnikov said
venezuelas oil industry previously sold its dollar earnings to the government at 750 to the dollar but bought foreign exchange from its imports at 1450 bolivars
all three tranches bear an 11 pct coupon with average issue price of 101 1 8 and average fees of 1 1 2 pct payment date may 14 1987
who decides whether to keep or dismiss his ministers is the president
bancroft convertible fund said the us district court for the district of new jersey issued a preliminary injunction enjoining zico investment holding incs tender offer for bancroft
spains foreign reserves rise in february
the company said it will redeploy its service assets into manufacturing and distribution
creditanstalt sees higher 1987 dividend
there is a 1 1 4 pct selling concession and a 5 8 pct combined management and underwriting fee
it opens april 4 and closes april 29 and is underwritten by jb were and son rights will be traded on australian stock exchanges from march 23 to april 22 and the new shares will be quoted from june 4
additional details were not immediately available
most analysts said they think a price in the low 50s would be appropriate
about a third of the cash payable would be met from bps own resources
us officials have urged japan and west germany to stimulate economic growth in their countries a move that could boost us exports and relieve trade protectionist pressures in the united states
they said japan has so far been the main source of bilateral concessional assistance for china followed by west germany canada italy australia and britain
it said it is raising its marine diesel oil posting by 30 cts a barrel to 2024 dlrs a barrel
cra ltd craas 1986 net
among his proposals which he presented to the senate banking committee in testimony last week were a requirement that raiders give 24 hour notice for every one pct of stock they acquire in a company
preliminary figures for may show m 3 at 8324 billion rand for a year on year rise of 1097 pct from 7501 billion in may 1986
both films green monkey and street justice are being produced by sandy howard
he noted the strong growth in bank loans in november through january and the firm federal funds rate that had prevailed despite the extraordinary pace of reserve growth
peter nicol analyst at chase manhattan bank said opec production could be about 185 190 mln in october
coopervision said it bought the stake for 29 mln dlrs for investment purposes
non redeemable for five years the issue is rated b 2 by moodys investors service inc and b by standard and poors corp
issue price is 100 5 8
mexico signs 120 mln dlr restructuring with uk 
philippine trade gap widens in january august
urs corp urs regular stock dividend
the notes which mature on march 31 1996 became convertible into 23 mln shares of lilly stock at 6631 dlrs a share beginning march 18 1987
the volume of uk retail sales rose a provisional seasonally adjusted 22 pct in february after falling a final 22 pct in january figures released by the department of trade and industry show
under the agreement patrick will pay six dlrs per share for each bayou share with additional value being given for bayous preferred and options
a spokesman for the assay offices of great britain said he was particularly encouraged to see the percentage increase for british manufactured goods
uganda has a direct rail link with the kenyan port of mombasa through which it conducts 70 pct of its external trade but there is a chronic shortage of railway wagons they said
the current agreement expires on sept 30 1988
fees comprise 1 1 4 pct selling concession and 5 8 pct for management and underwriting combined
dealers for the one billion us dlr borrowing program were the aidc credit suisse first boston ltd merrill lynch international and co morgan stanley international salomon brothers international ltd and swiss bank corp international ltd the aidc said
finance minister kiichi miyazawa told the same committee that the six britain canada france japan the us and west germany had intervened aggressively since the dollar fell below 150 yen
the amendments offered by rep
they said the voluntary restraints were aimed at averting ec sanctions urged by european computer makers
shr 130 dlrs vs 107 dlrs net 136 mln dlrs vs 102 mln revs 2712 mln vs 1823 mln note1986 results reflect year 11 month period because company changed fiscal year to end february 28 from march 31
shr 44 cts vs 33 cts net 1026000 vs 769000 nine mths shr 130 dlrs vs 106 dlrs net 3035000 vs 2472000
aero services international inc said it expects to achieve improvements in overall operations in the year ending september 30 1987
the moratorium is expected to persist the entire time that debt scheduling talks are under way
german march unadjusted jobless falls
analysis that the gao has obtained from the agriculture department and the office of management and budget suggests that certificates cost more than cash payments a gao official told 
the former requirement called for three lead managed issues
the average foreign brokerage now underwrites only around 007 pct of each such issues volume they told 
the slowdown in price rises was mainly due to a government imposed price freeze which came into force on february 4 the bureau added
funaro was scheduled to travel to switzerland tomorrow they added
us m 1 money supply rises 12 billion dlrs in march 16 week fed says
underwriters are wedbush securities inc morgan grenfell blunt ellis and loewi inc butcher and singer inc raymond james and associates and robinson humphrey co inc
idemitsu said it hopes to raise high octane sales to 20 pct of its total gasoline sales from about seven pct immediately after the launch of its idemitsu 100
the senate budget committee sits down tomorrow to start drafting a fiscal 1988 budget with the budget writers expected to look at several proposals for fuel taxes and other tax options to cut the budget
s p says corporate downgrades may ease this year
trade deficits such as china had last year and in 1985 are normal for a country at its stage of development customs figures show china had a trade deficit of 119 billion dlrs in 1986 down from 14 billion in 1985
icahn said the sec is looking into whether he and others whom he did not name violated securities laws by acquiring and selling more than five pct of a companys stock
in japan no single yard leads the industry resulting in fierce competition and slow progress in reducing capacity
proved us and foreign reserves of natural gas declined to 964 billion cubic feet last year from 101 trillion cubic feet in 1985 because of a virtual halt in its exploration program pennzoil said
lyng has resurrected a past us proposal that japan buy surplus us foodgrains for donation to developing countries but some us officials are skeptical action will be taken
venezuela possibly unique among oil exporters requires its clients to sign final destination clauses to ensure its oil is not resold on the spot market
many fields were booting and some were beginning to head
they either have to accept a 46 dlr proposal or perhaps work a deal where its sweetened
the report said an import fee would raise prices and help make it economical for us oil firms to find and produce new oil as well as to cut imports but on the whole the tax would depress the nations economy
money supply grew faster in january because the central bank issued more currency for bonus payments made to workers at the lunar new year which fell on january 29 this year banking sources said
ec backs new move to encourage unleaded gasoline
the bundesbank is currently steering call money between 36 and 38 pct although short term fluctuations outside that range are possible dealers said
washington has pushed for veto power to be lowered to 35 pct from a simple majority as at present
the non callable 13 year and 80 days bond is issued at 100419 pct
the argentine pact contains several features that were not in the mexican accord such as exit bonds an option to provide new money via bearer bonds a trade facility onlending provisions and a debt equity conversion scheme
strong demand for peru bismuth in jan may
forming a new contract and establishing a singapore warehouse are constructive moves by the lme but backwardations which make physical trading difficult would not totally disappear as a result the trade sources said
final terms will be fixed on april 15
the red cross says that least 300 people died and at least 4000 are missing due to the earthquake
canadas gross domestic product by industry rose a seasonally adjusted 12 pct in december the largest monthly gain since april 1986 statistics canada said
nonrecurring income for three and 12 months 1986 included 575000 for settlement of litigation and a gain of 618719 dlrs on surrender of leaseholds
an investigation was underway he said
the transaction is valued at 162 mln dlrs
but i dont see that as a likely scenario pulcine said
jp morgan and co inc jpm 3rd qtr net
soviet economist sees few gains in us trade
mark resources inc year loss
reeboks stock was selling at 45 1 2 up 1 8
there will be two co lead managers
morgan officials said that by 2002 the effective yield will be a 20 pct return
baker said that for its part japan announced a cut in its discount rate to 25 pct and committed itself to prepare a comprehensive economic program to stimulate domestic demand after the diet completes action on the current budget
west virginias management will continue to be responsible for operating the utility it said
some might argue that the fed was firming policy but it looks like it tried to play catchup with reserve provisions late in the statement period and didnt quite make it said ward mccarthy of merrill lynch capital markets
golden poultry chik to make acquisition
the new bond is due march 5 1992
f w
tp lilaratne head of the governments rubber controller department which monitors the industry told replanting and base budding would have to be undertaken before late may when the monsoon rains begin
it said the facility which is half underwritten and half non underwritten has been over subscribed and underwriters allocations are reduced from the original commitments
de clercq noted the different dimensions of the chinese economy and those of hungary and yugoslavia the two current socialist gatt members
envoy advises nakasone to prepare for us visit
public authority borrowing in 1988 may also rise owing to increases in the second phase of bonns tax reform package
also includes losses of 18 mln dlrs vs 332000 dlrs from equity in limited partnerships
the reserve bank of india said it was tightening its credit policy for commercial banks by raising their cash reserve ratio by 05 pct to 10 pct effective from october 24
qtly distribution 10 cts per unit vs 10 cts prior pay april 20 record march 31
the dollar was quoted at around 18040 marks shortly after midday in nervous but quiet trading up from its 17975 85 opening
antar the reclusive founder of the chain in the new york city philadelphia and connecticut areas said last month that his group controlled 14 percent of crazy eddies shares
the area sown to soybeans this season was a record 37 mln to 38 mln hectares 108 to 138 pct up on the record 334 mln sown in 1985 86
the largest decreases in the december quarter were recorded by the same stores which recorded the highest increase in sales in the september 1986 quarter before the introduction of a 10 pct value added goods and services tax on october 1 1986
the scientists said more than 50 pct of the fatty acid content of the tropical oils was saturated whereas less than 20 pct of the fatty acid content of soybean oil was saturated
the most active issuers to date had two main motivations lower costs of funding and increased financial flexibility
bally bly to take 173 mln dlr 1st qtr charge
the purchases would be limited to 5000 tonnes of cocoa per day and 20000 tonnes per week and could be bought in nearby intermediate and forward positions they added
the us agriculture department said private us exporters reported sales of 200000 tonnes of wheat to jordan 300000 tonnes of soybean meal to iraq and 100000 tonnes of corn to algeria
the us has excessive expectations
the use of tariffs and quotas to reduce the flow of foreign goods into the united states will do little to cut the nations swelling trade deficit a government study said
residential permits fell 39 pct to 125 billion dlrs from 130 billion dlrs in october while the number of units approved fell to 17552 from 19079 units
however much of that export demand seems to have been met with most foreign meal users now waiting for the expected surge in shipments of new crop south american soymeal over the next few months
analysts noted that fairchild does make sophisticated microchips used in supercomputers
grade 92 octane will be 902 cents against 876 previously
hoechst ag 1986 world group pretax profit 321 billion marks vs 316 billion
there will be increasing momentum in earnings albeit not until later this year martin said at a technology conference sponsored by the investment firm
a fall in customer savings because of lower rates could reduce cheap refinancing available to banks forcing them to draw down relatively expensive funds from other sources one economist at the german banking association said
last july the interstate commerce commission icc denied the merger on anticompetitive grounds
compromise cited on san miguel shares
it said it bought the bulk of its stake between feb 6 and march 13
the trade deficit rose to 664 mln dlrs in january from 146 mln in january 1986
japanese investor interest in british gilt edged securities is growing rapidly due to expectations sterling will remain stable despite the drop in oil prices and on calculations gilt prices will firm bond managers said
investment grew nearly 10 pct in 1986 and a bank of portugal forecast released on the day the psd government fell predicted the pace of investment and overall economic growth would remain at similar levels this year
martin marietta closed and mothballed the smelter in 1984
lsi logic llsi sets 100 mln dlr debt offer
though bankers feel they generally have the tacit backing of the saudi arabian monetary agency sama the kingdoms central bank some say it should take a more active role
oreffice also said dows profit margins on chemical products would improve this year over last year
interest rates on kuwaiti dinar deposits held firm in scattered trading despite a central bank decision to revive limited funding lines dealers said
southwestern bell said 1987 capital expenditures will be lower that the 197 billion dlrs spent in 1986 a year in which expenditures were held below budget
the office said the issues will be priced and offered for sale tomorrow
taiwan will retender for the corn for may 15 30 shipment if via the gulf or june 1 15 via pacific northwest on march 6 but has not rescheduled a tender for sorghum they said
in a statement at a white house meeting with senate republicans on the legislation he said i would have no choice but to veto that bill in its present form he said the measure would move us exactly in the wrong direction towards high tariffs trade barriers trade distorting subsidies slow growth and crimped world markets and would destroy jobs
even though the petrobras statement said the seamens strike was over a union spokesman said only two small shipping companies had reached a pay agreement
one lock system in the four lock soo canal joining lake superior with huron was opened on the morning of march 22 but only three commercial vessels have been locked through so far according to an us army corps of engineers official
japan to pay five pct less for indian iron ore
us home resales up in february realtors say
we will urge that they consider sharing their rice market he said
the company also said it will redeem warrants till outstanding on june two at 10 cts each
brazil to meet bank creditors on april 10
lyphomed inc said it intends to file a registration statement with the securities and exchange commission covering the sale of 70 mln dlrs principal amount of convertible subordinated debentures
contradicting earlier reports from strike headquarters in rio de janeiro seamen in santos said the strikers on board ships here were not running out of food
in both cases moodys investors service inc declined to follow suit bond traders noted
vallen corp valn 3rd qtr feb 28 net
westlb raises australian dlr bond to 75 mln
housing construction is the key strategic variable in the expansion of domestic demand wrote chihiro nakajima professor at kyoto gakuen university
when cpc announced the agreement yesterday in new york it said only that the price would be in excess of 600 mln dlrs
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
spot dlrs tonne propane butane north sea fob 113 117 125 130 north sea cif 120 125 135 140 mediterranean cif 140 145 175 180 the gulf fob 130 135 140 145 japan c and f 155 160 160 165 official prices fob saudi arabia 3 1 125 125 algeria 3 1 120 130 bp posted price 4 1 110 12300 shell posted price 4 1 113 12300
only one japanese company has renewed its term contract for iranian crude oil for the second quarter the sources said
in 1983 zaire set out on a major economic reform aimed at curbing its soaring debt
mortgage loans closed by thrifts in january totaled 152 billion dlrs down from 316 billion dlrs in december
they also shouted their support for a demand that jailed black nationalist leader nelson mandela be released
the analysts questioned whether houston based entertainment marketing founded by a former electronics retailer but whose present buinesses are primarily as wholesale distributors had the management expertise for retailing or was merely trying to drive up the price of the crazy eddie shares it already owns
ecuador was not in the market and catches are said to be poor
avaq said it made the statement in response to an offer by interconnect capital corp for all of gates learjet shares after what it believed to be an agreement by gates to accept its offer
and technical products revenues and operating profit were ahead of last year led by a strong increases in medical systems volume and the inclusion this year of rcas communications and related services
donegal group inc which today reported earnings of 155764 dlrs on revenues of 6506792 dlrs for the period from august 26 startup through the end of 1986 said it expects much improved profits for the full year 1987 on revenues of about 32 mln dlrs
but the first official said from a technical viewpoint the bank of japan could activate swap agreements immediately after other central banks involved agreed to do so a swap agreement an exchange of currency between two nations allows both sides to acquire a ready source of the others currency in case of need
times mirror co tmc quarterly dividend
1986 and 1985 oper per share amounts are reported after paying 310 mln dlrs and 385 mln dlrs respectively for preferred stock dividends
the subsidies are obvious attempts to circumvent the zero duty binding and that makes us farmers mad as hell adams said
shr 2 1 5 cts vs nil net 156726 vs 11989 sales 1157883 vs 890138
the group said it paid about 69 mln dlrs for the 1389600 goodrich shares which are being held by quantum fund nv a netherlands antilles investment firm advised by soros
barley 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 yield bu 508 508 510 510 start stocks 325 325 247 247 production 610 610 591 591 imports 5 5 9 9 total 941 941 847 847 barley cont 1986 87 1985 86 04 09 87 03 15 87 04 09 87 03 15 87 usage mln bu feed 300 300 333 333 other 175 175 167 167 ttl domest 475 475 500 500 exports 150 150 22 22 total use 625 625 522 522 end stocks 316 316 325 325 avgprice 145 65 145 65 198 198 note average price in dlrs per bushel
while fourth quarter economic growth was weak corporate profits jumped a healthy 61 pct during the period the government said
world bank loans to china seen doubling
those holdings are part of more than 3400 acres of mineral rights held by franco nevada in the carlin gold belt
the rio dockers did not get support from their colleagues in santos brazils main port but the spokesman said they would not return to work unless their demands were met
the move complicated a usair takeover offer for piedmont which was believed to be close to accepting the bid
futures prices reacted upwards to the news of end buyer physicals offtake although much of the enquiry emerged recently when prices took an interim technical dip traders said
fisher will trade on nasdaq under the symbol fshg
india steps up countertrade deals to cut trade gap
alabama investor ups penobscot shoe pso stake
philippines confirms prepayments on new debt pact
its pure fiction said one senior official at usdas foreign agricultural service referring to the rumor that the administration would make an export enhancement offer to moscow in the next two to three weeks
on an unadjusted basis total unemployment fell by 16500 in the month to end march to 692200
terms were not disclosed
the supply demand position has improved in the past year and despite a silver market surplus the quantity of silver is modest enough to be absorbed by investors it added
japan details plan to stave off trade problems
exports to japan fell 23 pct to 128 billion and imports 244 pct to 214 billion
unit distribution one dlr vs 175 dlrs prior pay june one record may one note prior distribution declared in april 1986
the company said its offer of 775 dlrs a share for the stock has been extended to 2000 est march 23 from 2400 march 17
baker said divestitures under the consent decree would reduce revenues for the combined company by about 65 mln dlrs or three pct
the soviet union has booked a record total of 25 mln tonnes of british wheat and barley this season but only 128 mln had surfaced in customs export figures by march 25 traders said
the bid is woolworths second attempt in recent months to acquire a retail chemist chain
the commerce department reported last week that the nations trade gap calculated on a balance of payments basis swelled to a record 3837 billion dlrs in the fourth quarter bringing the 1986 deficit to a record 14771 billion dlrs
in a grantor trust investors buy asset backed certificates that represent a specified percentage of an undivided interest in the trust analysts explained
yield on 91 day sama deposits rises
the company also said it is reviewing its investment in santa fe southern pacific in light of sante fes announcement that it recieved several bids ranging from 750 mln dlrs to more than one billion dlrs for its southern pafific transportation subsidiary
dutch seasonally adjusted m2 money supply was hardly changed in december at 16949 billion guilders compared to 16956 billion in november central bank data show
gander mountain inc said it acquired privately held western ranchman outfitters a cheyenne wyo retailer and catalog seller of western apparel
it said the changes will increase daily service to austin to four roundtrips daily to tampa to three nonstops and a one stop to orlando to one nonstops three onestops and two connecting flights and to san diego to one nonstop and three direct flights
finance ministers agree on need for stability
bp to offer 74 billion dlrs for standard shares
tseng laboratories inc said it expects first quarter 1987 sales to exceed total sales for the entire 1986 year and said it expects earnings for the quarter to grow at a faster rate than sales
deposit guaranty corp deps 1st qtr net
us house panel approves 400 mln dlrs foreign aid
bankers could not estimate how many loans were involved expect to suggest it was a sizable number in a statement the inland revenue said that on loans made on or after april 1 the new measures would apply to interest arising from that date
floridas citrus groves continue in very good condition acccording to the latest report by the us department of agricultures florida agricultural statistics service
shr 15 cts vs 13 cts net 8753000 vs 7804000 avg shrs 326 mln vs 232 mln note includes gains of 41 mln dlrs or 12 cts vs 33 mln dlrs or 15 cts from tax loss carryforwards
they say they must pay the price to bring over the best people needed to back up their push into japans increasingly lucrative markets
conrac cax rejects mark iv iv offer
the trend is clearly lower he said
rowan rdc sees substantial losses for year
the company said the dividend on the preferred offered by bilzerian would be set so that in the opinion his financial advisor and the companys financial advisor the preferred would trade in the public market at its liquidation value
arkla inc said it and international paper co ip filed a proposal with the arkansas public service commission designed to resolve the dispute between the two over ips plan to build natural gas pipelines for its paper mill facilities at pine bluff and camden
the federal home loan bank board adjusted the rates on its short term discount notes as follows maturity new rate old rate maturity 30 273 days 500 pct 500 pct 30 89 days 274 294 days 592 pct 583 pct 90 100 days 295 344 days 500 pct 500 pct 101 181 days 345 360 days 593 pct 582 pct 182 195 days 500 pct 196 274 days 590 pct 275 295 days 500 pct 296 360 days
in an interpretation of current rules which officials said clarifies the secs present position the agency said a tender offer must be extended if a minimum share condition is waived even if the purchaser reserved the right to do so
the company said it plans to use proceeds from the offering to fund growth and for capital expenditures associated with increasing manufacturing capacity
p and o said 1986 produced an acceptable level of growth though ground has to be made up in one or two areas
britains visible trade deficit narrowed to a seasonally adjusted provisional 224 mln stg in february from 527 mln in january the trade and industry department said
kenya devalues shilling by 06 pct against sdr
the a warrants may be exercised from june 1 1987 to march 30 1990 at 800 francs and the b warrants from june 1 1987 to march 30 1992 at 820 francs
ended february 28
the bank of korea today quoted the won unchanged at 81205 against the dollar a 602 pct gain so far this year compared with a 334 pct increase for the whole of 1986
the securities will be listed in luxembourg and are available in denominations of 1000 and 10000 dlrs
unadjusted merchandise figures show a surplus of 168 mln against 36 mln in january and 22 mln in february 1986
companys full name is volkswagen ag vowgf
transamerica natural gas corp said it is seeking two billion dlrs in punitive and actual damages in a lawsuit it filed today against coastal corp its chairman and certain coastal affiliates
he did not indicate what exchange rate levels were broadly sought by the six nations and noted that we are more effective in our agreement if we can leave the markets guessing he did not indicate what exchange rate levels were broadly sought by the six nations and noted that we are more effective in our agreement if we can leave the markets guessing leigh pemberton said that in principle the bank of england favoured full ems membership for sterling provided such a move did not endanger uk anti inflation monetary policy
but us manufacturers still are losing markets on their own doorstep to taiwan and korea whose currencies have not risen as much as the yen and the mark
rb industries rbi completes store sales
the debentures are convertible into the companys stock at 3050 dlrs per share representing a premium of 2577 pct over the stock price when terms on the debt were set
despite the 4th qtr results rhodes said net income for the year just ended should come close to the record level of the previous year 161 dlrs dlrs a share
canadian pacific cp confirms earnings
top discount rate at uk bill tender rises to 93456 pct
oper shr three cts vs 48 cts oper net 170000 vs 2324000 nine mths oper shr 126 dlrs vs 184 dlrs oper net 6157000 vs 8907000 note operating net excludes extraordinary gains of 231000 dlrs or four cts a share vs 2657000 dlrs or 55 cts a share in quarter and 1341000 dlrs or 28 cts a share vs 4637000 dlrs or 95 cts a share in the nine months
the international development association said it approved a 186 mln dlr credit to sri lanka to help that country strengthen its agricultural research and development
the banks assured the churchmen that their lending had declined substantially last year and that they had no intention of building it up as banks from other countries withdrew
the bank of japan will keep a close watch on exchange rates in line with the paris accord he added
qtly div nine cts vs nine cts prior pay july 15 record june 15
the executive board has limited its current discussions to administrative matters and is set to adourn thursday
it said quest blood expects to complete the merger within the next several weeks
in a filing with the securities and exchange commission the group disclosed that it currently holds a 55 pct stake in cardis common stock and said it would likely support an acquisition of the company as a whole or in parts by another party terming such a move the most likely means for the companys shareholders to maximize the value of their investment although the group characterized its cardis stock holdings as principally for investment it said it intends to contact third parties who might be interested in an acquisition of cardis a los angeles based auto parts distributor
a unit has one par value note and one contingent payment obligation
they said the real price of oil would stay at 15 dlrs a barrel for several years and i think they beat a hasty retreat from that point of view margoshes said
api says distillate gas stocks off in week
the upward deviations however are likely to be greater than the downward ones the balance between supply and demand in the short term will still be delicate he added
shr loss two cts vs loss 138 dlrs net profit 34000 vs loss 3296000 revs 3121000 vs 1546000 year shr profit 28 cts vs loss 161 dlrs net profit 1088000 vs loss 3546000 revs 5266000 vs 4169000 note current qtr per share figure adjusted to reflect provision for preferred stock dividends
malaysia has asked japan for a 42 billion yen 25 year loan to finance the construction of gas pipelines from eastern trengganu to southern johor the overseas economic cooperation fund oecf said
for the first six months of fiscal 1987 savings bonds sales have risen 129 pct from the comparable fiscal 1986 period to 701 billion dlrs from 307 billion dlrs the treasury said
eastern utilities associates eua ups payout
this could under certain circumstances release new inflationary fears which would then be more likely to lead to higher interest rates he added
if the commission agrees that public benefits and competitive enhancements will result it can vote to reopen the merger case
ico quotas before october unlikely delegates
in the merger holders of remaining instinet shares will receive 850 dlrs of american depositary shares for each instinet share
the central bank bought in band one 60 mln stg at 9 7 8 in band two eight mln at 9 13 16 in band three 26 mln at 9 3 4 and in band four nine mln stg at 9 11 16 pct
allied bancshares albn downgraded by moodys
he added these are private banks
but he added the company was not opposed to greater competition
italian 1986 gdp up 27 pct unemployment rises
however with many producers starting to swing in favour of the consumer position that quotas have to be re allocated under a new formula brazil is becoming increasingly isolated which gives at least some hope of a compromise at the ico quota meeting in september the official said
doe run raises lead price 050 ct to 2650 cts
seger told the savings and loan executives that she was concerned about financial markets absorption with exchange rate influences
30
crazy eddie said its board is not endorsing but will simply refrain from opposing the emi palmieri nominees
the american holding company laurentian capital corp will show a substantial improvement this year chairman claude castonguay said before the annual meeting
holders will also be asked to approve a new corporate name aon corp
but attempts to keep the depreciation going by talking the dollar down posed problems
lending to the manufacturing industry was up 370 mln stg and to leasing companies by 308 mln stg
p young co a subsidiary of service resources corp said it cut its stake in sorg inc to 366700 shares or 167 pct of the total outstanding common stock from 385000 shares or 175 pct
coca cola bottling co consolidated said it has agreed in principle to sell its vancouver based canadian bottling subsidiary to coca cola co ko for undisclosed terms with closing expected within 60 days subject to regulatroy approvals
malaysias gold and foreign exchange reserves rise
the other investor is mason slaine cos cob mass president of dealers digest inc
the company also said it expects to conclude soon its current negotiations with its primary lenders for extension of its loan agreements and expansion of its credit lines
the non callable bond is guaranteed by japan and is available in denominations of 5000 dlrs
stoltenberg said there is greater agreement now among major countries than six months ago at the time of the annual meeting of the international monetary fund and world bank marked by sharp discord between the united states and its major trading partners
the interest rate on the rescheduling was originally set at 1 1 8 pct over eurodollar rates but venezuela requested easier terms because of a 40 pct drop in oil income last year
the banks gold and currency reserves rose by 484 mln to 5689 billion guilders while the value of non gold holdings rose by 140 mln guilders analysts said
it said the deal is subject to approval by regulators and its partners in the properties which consist of exploration wells
swiss consumer prices rose one pct in the year to march the same rise as in the year to february and against 09 pct in the year to march 1986 the federal statistics office said
bond corp has no comment on allied speculation
correction shaws supermarkets earnings in item headlined shaws supermarkets inc shaw year jan 3 please read per share earnings 133 drs vs 123 dlrs correcting order of results
good results were achieved by its argos and saks fifth avenue in retailing and by wiggins teape and appleton in paper
so long as the groups stake in dba is below five pct it is no longer required to report its further dealings in the companys common stock
dividend pay dec 15 record nov 30
cotton supply demand by country usda
registered shares were less affected slipping five to 165
heineken nv heinas 1986 year
dutch paper packaging and graphical equipment group buehrmann tetterode nv bvtnas said its policy in this and coming years will be aimed at further expansion by autonomous growth and takeovers at home and abroad
he said that natural float had been acting a bit strangely for this time of year noting that there had been poor weather during the latest week
invacare is aggressively seeking acquisitions to complement the companys existing product lines mixon said
the tokai bank ltd london branch is doubling the size of a sterling certificate of deposit issuance facility established last year to 200 mln stg from the original 100 mln chemical bank international ltd said as arranger
its an arithmetic thing official figures show philippine inflation averaged 08 pct in calendar 1986
the sources were reporting poehls remarks at a symposium in duesseldorf last week organised by deutsche bank ag
the french company which produces lead acid batteries had sales in 1986 of 75 mln dlrs gnb said
a finance ministry official said the ministry has recently conducted a survey on foreign exchange transactions by institutional investors but declined to say if it was aimed at moderating their dollar sales
chase amp bank cuts australian prime to 1775 pct
the company also said it granted noranda an option to purchase two mln galveston shares
one of them sitting astride the rostam offshore oilfield was all but blown out of the water by us warships on monday
in mid december 1986 bank of america sold via california cars grantor trust 1986 a 514 mln dlrs of certificates backed by automobile receivables through salomon brothers inc
all of us have a stake in the stability of the world banking system a debt forgiveness plan that damages commercial banks also weakens confidence in world financial stability us treasury secretary james baker told the iadb meeting
by 65 pct to 100 pct a siemens spokesman said
the company said two groups of workers began attacking each other at about 1000 local time with machetes knives and sticks at a hostel at the zincor plant some 40 kms east of johannesburg
gaf had said it would offer 46 dlrs per share
fw woolworth and co said that 2223996 shares of armel incs aml common stock were tendered to and accepted for payment by woolworth under the terms of the previosuly announced cash tender offer which expired at 2400 midnight edt on october 16
the williams natural gas unit had operating profit of 505 mln dlrs compared to 909 mln dlrs on lower sales volumes
listing is in luxembourg
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 
exchange rate and oil price fluctuations will continue to condition the dutch economy in the future as it has in recent years the cpb said noting a continued depressing impact of these factors on dutch competitiveness
merrill lynch and morgan stanley co managed the deal
imports in the first two months of the year excluding oil and wheat totalled 18 billion dlrs against 147 billion in the same 1986 period
the ministry said gross purchases of foreign bonds were 11553 billion dlrs in february down from 11804 billion in january while foreign bond sales fell to 10612 billion from 10758 billion
panhandle pel trims take or pay exposure
the european community ec commission declined to give an official reaction to reports that a group of european operators plan to offer one mln tonnes of sugar into intervention in protest at commission export policies
while this would be 30 billion lower than last years deficit much of the improvement would be due to corporate tax increases being introduced before income tax cuts take effect
proposed offerings recently filed with the sec
stop and shops shp bradlees march sales rise
communaute urbaine de montreal issues notes
the central bankers who spoke on the condition they not be named said the meeting of governors from the group of 10 countries also heard a report from michel camdessus the new managing director of the international monetary fund on the imfs latest assessment of the debt crisis
the tender offer will be conditioned upon among other things the completion of financing arrangements
we see this as a test on how open the japanese market really is thatcher said
but after a quick flurry of issues that market dried up when swiss shares prices fell from their january peaks
the world bank is issuing 150 mln australian dlrs of zero coupon bonds due april 15 1992 priced at 53 lead manager hambros bank ltd said
central illinois public cip 3rd qtr net springfield ill oct 20 shr 89 cts vs 89 cts net 30406000 vs 30504000 revs 1638 mln vs 1720 mln nine mths shr 189 dlrs vs 214 dlrs net 64489000 vs 73149000 revs 6034 mln vs 6465 mln note central illinois public service co is full name of company
qtly div 13 cts vs 13 cts prior pay april 17 record april 3
the market is saying that the dollar must fall further because the us trade deficit is showing little sign of improvement while japan is resisting in a bid to protect its export industries
kuwait may re register part of its tanker fleet with foreign flag jurisdictions including the us and ussr in an attempt to protect them from iranian missile attacks in the gulf war zone us officials were quoted by the new york times as saying
the loan program offers borrowers home mortgage financing with no discount fees charged
the reserves now total more than 51 billion us dlrs
fourth national corp stake acquired
mostly clear skies extended from the great lakes and ohio valley through the central appalachians to the central atlantic coast and new england
in a filing with the securities and exchange commission the group said it bought 586500 smith common shares between october 9 and 19 at 786 dlrs to 957 dlrs a share
decoupling delinking planting decisions from government payments is too much of a policy change to approve at this point he said
under current so called sodbuster law farmers who planted alfalfa and other multiyear grasses and legumes on highly erodible land in the years 1981 through 1985 lose federal farm program benefits if they produce a row crop on that land in later years
also ipma members will be required to register with the association of international bond dealers as reporting dealers submitting daily information on prices on issues in which they are market makers
turkey has announced a tender to import 100000 tonnes of white crystal sugar with an advertisement in local newspapers
undersecretary of commerce bruce smart said we are gratified to learn that companies in canada have begun paying the export charge on lumber he added the agreement was important to the health of the us lumber industry and he intended to see that it was fully carried out
greyhound lines agrees to acquire remaining routes of trailways corp
but he said that he was confident banks would make substantial new lending to the major debtors this year
shr 42 cts vs 22 cts net 3445000 vs 2326000 revs 417 mln vs 515 mln
lawson says us west german row was unnecessary
final terms set on k o p warrant bond
smoky river holdings is an alberta company controlled by michael henson former president and chief executive of mcintyre the company said
that will be a 937 pct increase on 1986 when us imports totalled 150000 tonnes an official said
on the other hand a lack of any future market improvement may necessitate their permanent closing it added
he said opec had to look very carefully at what level of production in the third quarter would effectively sustain the 18 dlrs price and that an increase to what had originally been envisaged might soften price levels
in contrast soybean acreage is likely to be cut the most in marginal producing areas of the southeast and the western corn belt a usda soybean analyst said
this will also increase revenues
they will be able to raise the price again but i do not think they will raise it as much as they did in 1979 nance said
several analysts said they do not believe another suitor will top the 265 mln dlr bid for purolator courier corp by ef hutton lbo inc and a management group from purolators courier division
it also said it planned 20 dlr a ton increases on some special plate widths and thicknesses
in march private dealers will handle 2050 tonnes of pure coffee and enapal 6050 tonnes of mixtures
proceeds will be used for the companys construction program and to reduce short term debt that may be incurred from time to time for interim financing of such building philadelphia electric said
sumita sees reagan bonds feasible says newspaper
pressure developed after us treasury secretary james baker repeated earlier statements that the reagan administration had no targets for the dollar apparently undermining the assumption that the agreement in paris had fixed broad fluctuation ranges for major currencies
b ultimate destination not yet declared
colombia has opened export registrations for november coffee shipments trade sources said
brnf liquidating trust said trustees declared a 13th liquidating dividend of 110 dlrs per unit payable april one to holders of record of its series a b and c certificates on march 18
we anticipate that hiram walker profits will be well above those of the plateau years he said referring to the four years up to 1985
it wil be back on the table again and again the diplomat said
mannesmann sees difficult year for capital goods
it also said that shell canada exercised its option to take over solv exs 25 pct working interest in the construction of the oil facility relieving it of its obligation to raise about 625 mln canadian dlrs for plant construction
the bank said that by lowering the dividend rate it expects to maintain the value of dividend payout on the enlarged capital at about the level of its last full year ended september 30
the circumstances increase the likelihood that the company may have to seek protection from its creditors under the bankruptcy code gulf states said
allegheny ag aims to divest more businesses
pharmacia ab said it was launching a 200 mln dlr eurocommercial paper programme as part of a move to internationalise the companys financing
rochester telephone corp rtc 3rd qtr net
that would leave the company with its profitable american air filter co unit
liberty all star equity fund said it declared an initial dividend of five cts per share payable april two to shareholders of record march 20
non callable for three years the debt is rated b 3 by moodys investors service inc and ccc plus by standard and poors corp
the company said the offer and withdrawal rights will expire at midnight april nine unless extended
weatherford international said it suspended indefinitely payment of its regular quarterly dividend of 656 cts per share on its 2625 convertible exchangeable cumulative preferred stock
purchase price and other details of the agreement were not disclosed
last november fixed rate mortgages were about 1030 pct
sis corp said it has completed the acquisition of its franchisor sisters international inc from wendys international inc for 145 mln dlrs in stock
standard and poors said its major downgrades last quarter were of denmark usx corp x chase manhattan corp cmb and manufacturers hanover corp mhc it said the most negative influence on rating changes occurred in the financial institution sector where there were 22 downgrades versus five upgrades
the first coupon of 21350 francs will be paid on october 13 1987 and thereafter on april 13 each year
gould gld division gets financing
general tire employs 10000 people worldwide and has four tire manufacturing plants in the us and one in canada
hutchison shares lost one dlr to end at 53 dlrs each today
far east operations of fine china subsidiary royal doulton ltd are being expanded in the wake of record recent sales in japan it added
in the year ended september 30 willms had revenues of about 15 mln dlrs
but a european banker said pricing was not an issue in the present market conditions the timing was just not right if banks had more patience they wouldnt launch any issues now and then the market would be all right another dealer said
the usda said it had accepted 10572402 more acres into the conservation program out of bids on a total of 11254837 acres
the sale is part of a restructuring program begun by commercial credits subsidiary in late 1986 the company said
swift independent packing co said it agreed in principle to sell its huron south dakota pork plant to huron dressed beef for undisclosed terms
seguel a christian democrat and chiles best known union leader said he was forced to step down after repeated court actions brought by codelco prevented the union from operating
moore told the opening meeting of trade ministers from 22 nations gathered for informal talks on the gatt that ministers need opportunities to keep in touch and to consider how the political problems inherent in an exercise like this one can be faced and resolved moore said the taupo meeting is one of a series of such international gatherings which includes the oecd ministerial meeting in may and the g 7 meeting in venice in june enabling ministers to maintain contact
bank of france sees continued industrial pickup
noting that a shortage of power constrains pakistans economic development the bank said one objective of the project is to provide at least 200 megawatts of additional generating capacity
foreign bankers here said the pact gave manila the largest interest rate cut among major debtor nations
they said the fed has a fairly large add need and is likely to face the most reserve dislocations early in the new statement period started today as corporate tax payments swell treasury balances at the fed
tony lama co inc said it signed a letter of intent to buy coulson of texas inc a maker of heels and leather components
the main sticking point on quotas has been brazils attitude and this compromise could be a solution one said
jardine matheson decided to withdraw its issue because of a joint announcement earlier today by ronald li chairman of the stock exchange of hong kong and securities commissioner ray astin that the listings of new b shares would be barred
gulf 310 316 corn brly oats rye soyb sorg chicago 147 481 249 ill
several members of congress from iowa have complained that farmers who inadvertantly failed to certify that they had grown oats for their own use in the past now are being asked to halt oats production or lose corn program benefits
michael landes a major stockholder in unitel video inc said he has asked the company to consider liquidating or selling some or all of its assets
bull to issue 800 mln francs stock option bonds
fees total 1 7 8 pct with 1 1 4 for selling and 5 8 for management and underwriting
a 2625 mln dlr annual dividend would be paid to the parent after a very disappointing year
south africa corn exports could be reduced usda
this kind of paper can be hard to sell and it is gratifying to see such a high level of interest both european and domestic canadian demand commented one trader at a canadian house
now the banks are complaining but i do not weep for them
the world bank said it approved a 100 mln dlr loan to help brazil finance the rehabilitation of the railway in sao paulo state and establish a institutional reform program as a base for future commercial operation
uk producer price data for march were roughly as expected after taking into account technical factors which affected the year on year outcome economic analysts said
the arrangement also provides for the dismissal of pending litigation between the parties lucky stores said
it said it should have received a 17 mln dlr tax credit but instead made a 1004 mln dlr tax provision
for 1987 production is projected to fall to 1705 mln tonnes
the borrower is the wholly owned international holding company subsidiary of svenska finans ab a subsidiary of svenska handelsbanken sweden
the ec complained the accord breached gatt trade rules by allowing tokyo to monitor prices allowing it to set minimum prices for japanese chips sold in third countries
he added that ecuadorean crude was now selling for 15 to 17 dlrs a barrel after having been sold for many months at 12 dlrs a barrel and as low as seven dlrs before that
electroperu would also to submit a plan within 60 days to reduce its costs
the first 500000 dlr payment is due 30 days after the products are approved by the food and drug administration
the plan to curb exports agreed in january is aimed at cutting the world surplus to 50000 tonnes from 70000 now and boosting prices to about 19 ringgit a kilo from just over 16
ghana cocoa purchases 1323 tonnes in latest week cumulative 216095 tonnes official
it is my intention to submit these proposals to the domestic policy council and the cabinet for consideration and review the goal of the administration policies is to increase domestic production
no replanting programme has been successful said almy hafild from the indonesian network for forest conservation
it seems that when the buffer stock manager is absent from the market prices go up while when he declares his intention to buy quite often the reverse applies traders said
us housing starts rose 44 pct in september
international monetary officials will rush to paper over the deep cracks that have appeared in the louvre accord on currency stability to prevent a dollar free fall and to calm turmoil in world capital markets economists and currency traders said
coffee futures dipped further and closed below one dlr a pound for the first time in six years
sico said it acquired sterling groups canadian assets in february
the bond is available in denominations of 1000 and 5000 dlrs and will be listed in luxembourg
ef hutton groups ef hutton lbo inc unit said it extended the expiration date for its 35 dlr per share tender offer for purolator courier corp to midnight est april six from midnight april one
annualised it rose 13 pct in december against seven pct in november and one pct a year earlier based on the ratio of the latest index to the average over the previous 12 months
gencorp which has interests in tire and plastic making aerospace and broadcasting has about 223 mln shares outstanding
the deal is subject to approval by allis chalmers annual meeting company officials said
two small shipping companies have reached a pay deal with striking seamen but union leaders said most of brazils 40000 seamen were still on strike
cato corp files for initial offering
although the increased cost was to be funded by dot sims said that department to date has contributed no money
brazils state oil company petrobras cancelled a 40 mln dlr crude oil purchase from saudi arabia after the saudis refused to accept credit guarantees from the bank of brazil a petrobras official said
loans to finance property development and instalment mortgages rose sharply
burns has resigned as vice president of manufacturing
norgold will also have a 10 pct stake in the coronation hill gold platinum project in the northern territory and 43 pct of the poona copper gold project in south australia
bundesbank seen steering steady monetary course
canada development corp cdcto said it agreed to sell its 252 pct interest in cdc life sciences inc to caisse de depot et placement du quebec the provincial pension fund manager and institut merieux a french biological laboratory company for 1692 mln dlrs
an 11 day old strike by brazilian seamen is affecting coffee shipments and could lead to a short term supply squeeze abroad exporters said
the capital investment required to produce the additional output would be around one billion us dlrs and the political climate may make it difficult to raise the money he said
intelligent systems inp sets initial payout
they expected the fed will supply temporary reserves indirectly via 15 to two billion dlrs of customer repurchase agreements
the company said the next three consecutive quarters should demonstrate excellent earnings growth
last week the white house imposed unprecedented tariffs on certain japanese electronic goods after tokyo failed to adhere to a semi conductor pricing accord between the two countries
congress is weighing a trade bill to force the president to retaliate in certain cases of unfair trade practices
ec to mull new durum wheat intervention rules
the klm spokesman said air atlantas regional route network centred on atlanta ga could serve as a feeder to klms international network which includes direct flights between atlanta and amsterdam
trade sources said the actions being weighed by reagan included tariffs on a wide variety of japanese exports which use semiconductors
although reports of actual cattle weights are difficult to obtain industry sources in the west and southwest acknowledge that lighter cattle are being put on feedlots in their areas
the official said china has taken measures to improve its export performance including incentive offers to exporters and the establishment of export production bases
henry kaufman managing director of salomon brothers inc said the nomination of economist alan greenspan to replace federal reserve board chairman paul volcker is bearish in the near term for the fixed income and currency markets
indonesia rejects world bank farm reform ideas
however the west german banking sources said institutions here felt it was particularly important that brazil presented a credible recovery program and that there be a rapprochement with the imf
some middle east experts say the only way out is for washington to join forces with moscow in pressing for an end to the war between iran and iraq
institutes divided on outlook for german economy
krupp to build south korean steel plant
the average price was 9836 to give a yield of 3246 pct and lowest was 9833 giving 3314 pct the ministry said
the federal energy regulatory commission ferc issued a proposed policy statement for the recovery of take or pay costs imposed by existing natural gas contracts between producers and pipelines
michigan national corp mnco votes dividend
the seoul government wants tokyo to ease various import restrictions and simplify customs inspections for south korean goods to help reduce the trade deficit
the bill also requires regulators to apply more liberal standards when deciding whether to close ailing thrifts in depressed regions
israel cyprus and saudi arabia were the main buyers it said
the japanese shareholders the overseas economic cooperation fund and 12 companies are to invest another 24 billion yen raising capitalisation to 147 billion yen
there is no confirmation that brazils major processors of frozen concentrated orange juice fcoj will raise export prices of the product to 1375 dlrs per tonne from april 1 a spokesman for the brazilian association of citrus juice industries abrassuco said
primerica wh ich changed its name in april from american can co said smith barney harris upham and co inc wholly owned by smith barney inc will add more than 100 domestic and overseas branch offices
fcs fcsi receives merger proposal
us senate republican leader robert dole said congress should consider legislation to apply the so called 0 92 option to producers of major commodities
japanese crushers bought 8000 tonnes of canadian rapeseed for shipment from the last half of july to september trade sources said
it said as part of the agreement its current direct investment in its existing non consolidated joint venture with ajinomoto will be converted into a cooperative arrangement for the long term utilization of technology and trademarks
salomon said it expects the securities to receive a aa rating from standard and poors corp
besides its medium and long term debt first interstate said it also has 165 mln dlrs in short term loans or trade lines in brazil
new zealands broadly defined seasonally adjusted m 3 money supply grew an estimated 36 pct in december after rising a revised 24 pct in november and 404 pct in december last year the reserve bank said in a statement
the company also said that upon completion of the exchange offer it may issue warrants to buy 100 mln shares of common stock to current shareholders and warrants for 75 mln shares to employees
but the bank has traditionally been one of the most conservative in making provisions
derlan acquires 80 pct of aurora industries
tokyo dealers said the bank of japan bought one to 15 billion dlrs in tokyo today and may also have purchased dollars yesterday in the us via the federal reserve
it has been under 1 1 4 points recently
standard and poors corp said it downgraded to ccc plus from b minus hyponex corps 30 mln dlrs of subordinated debt
the us benchmark crude west texas intermediate rose to 1815 dlrs a barrel today a rise of 150 dlrs this week
the index of coincident indicators which measures the current economy fell 01 pct in january after increases of 07 pct in december and 02 pct in november
about 500 mln dlrs of long term debt and 66 mln dlrs of preferred is outstanding
german bankers remarks revive talk of rate cut
neither does he expect any significant acreage cuts in higher producing delta areas
societe generale dutch unit launches cd programme
what they are proposing is really double counting patrick de saint aignan managing director of swaps for morgan stanley and co said
new world pictures had increased the issue to 215 mln dlrs from an original offering of 150 mln dlrs and that brought in s and p
the dollars fall below 150 yen which follows last months paris currency stabilisation agreement by the us japan west germany britain france and canada is a dramatic reversal of the success of the group of five g 5 1985 new york plaza meeting to weaken the dollar they said
that compares with 147 gallons per box previously and 138 gallons per box from the 1985 86 crop
as a result the market became glutted said one trader
the agreement by the seven member association of tin producing countries atpc aimed to cut the world surplus and boost prices
exxon xon south african unit acquired by zenex
it said twa week filed a cursory application with the department of transportation for approval of its proposed 165 billion dlr takeover of usair
first granite fgbi agrees to be acquired
it said results of its other nursery and craft unit flower time inc are not affected
fob exports in the first 10 days of june rose 176 pct from a year earlier to 605 billion dlrs while cif imports rose 396 pct to 444 billion
gulf canada corp said a discharge of material at its amauligak drilling site in the beaufort sea caused no danger to the environment
lougee said at some point in the future banking operations that both norstar and fleet operate in the state of maine would be combined
it said the merged company is now known as scan graphics inc and expects to be listed on the nasdaq system soon
kenya signs pact to establish own shipping line
general partners sells gencorp gy stake
twa sold four mln shares of usair believed to institutions wall street sources
nine months net includes gain from discontinued operations of 38 mln dlrs or 34 cts a share vs 731000 dlrs or seven cts a share in the first nine months of fiscal 1985
he also refused to say which side was to blame for the renewed confrontation saying washington was still trying to ascertain all the facts as prime minister andreas papanderou said greece was prepared to tackle any aggressor
in its newly released annual report to shareholders pennzoil said it expected the texas state court judgment which was upheld by a state appeals court on february 12 to be upheld if appealed again
while bahrain plans an official stock exchange and trading in saudi arabia has picked up establishment of formal exchanges in qatar oman and the uae does not appear imminent azzam said
consumer spending had a 04 negative impact
interior said oil on the coastal plain could match the 10 billion barrels found at prudhoe bay just west of the plain
available seat miles rose 291 pct in march to 4642 mln from 3595 mln and 368 pct in the three months to 133 billion from 9709 mln
group shr 6544 yen vs 7330 net 448 billion vs 419 billion current 1085 billion vs 977 billion operating 965 billion vs 954 billion sales 10353 billion vs 9439 billion note company forecast for current year is group shr 7005 yen net 480 billion current 1120 billion and sales 113 billion
thomas clark chairman
nakasones comments seemed distinctly more conciliatory than those of his trade and industry minister hajime tamura who earlier today said japan was ready to take appropriate measures if washington went ahead with the sanctions
japanese crushers are likely to buy at least 200000 tonnes of brazilian soybeans this year and another 100000 to 200000 if quality and shipping conditions are good against 128089 tonnes in 1986 trade sources said
strata stata 1986 earnings report qualified
argosystems will operate as a wholly owned subsidiary of boeing co
but i must say i do feel the need for allied lyons to be better known in canada
17 american will pay 15 dlrs a share for the outstanding stock of aci holdings
british prime minister margaret thatcher threatened to block japanese financial firms from london after the japanese placed what the british say are restrictive conditions on a bid by british firm cable and wireless to join a domestic telecommunications joint venture
johnstown savings bank fsb jsbk 1st qtr net
he and other analysts said chancellor of the exchequer nigel lawson was keen to see mortgage rates fall to keep a lid on uk inflation
the move follows cuts in credit card interest rate charges by several canadian banks
proceeds will be used to reduce short term debt
total research corp fiscal 1987 net
patrick petroleum co ppc 4th qtr net
oper shr 36 cts vs 39 cts oper net 1391000 vs 1485000 revs 616 mln vs 585 mln year oper shr 70 cts vs 116 dlrs oper net 2677000 vs 4410000 revs 2076 mln vs 2002 mln note 1986 net excludes extraordinary loss of 297000 dlrs or eight cts shr vs yr ago gain of 514000 dlrs or 13 cts shr
the diw and ifo forecast the economy would pick up after a slow start to the year
although the gravity of oil at the field seems to be low it seems to flow quite well and around 300 mln barrels could be recovered carol bell of phillips and drew told 
carolina power said the status of the unit had been under review because of a decision by the north carolina environmental management commission that would have required the unit to be equipped with expensive sulphur dioxide removing scrubbers
he also planned to end the present treatment of tax credit relief for foreign withholding tax paid on interest on bank loans also from april 1
at the signing of the 40 mln dlr facility winston cox advisor to the central bank of barbados said he was looking to make greater use of the international capital markets to reduce the countrys dependence on multi national orgainsations
imports of cocoa powder fell to 316 tonnes from 469 and exports to 5944 from 6106 tonnes
we appreciate their frustration a senior japanese government official said
listing will be on the amsterdam stock exchange
the closing of the sale is set for the second quarter of 1987 the company said
the company said the 51 pct balance will continue to be owned by malaysia apera group of private investors
two will load 60000 tonnes of barley for saudi arabia one 28000 tonnes of wheat for china two 25000 tonnes of wheat each for algeria and turkey and one 20000 tonnes of wheat for italy
last year ibm earned 48 billion dlrs on revenues of 513 billion dlrs
the lack of marketing also has supported pork bellies but prices drifted lower for moderate losses in nearby months as speculators sold contracts to take profits traders said
bank of france launches money market tender
japan unemployment falls in february
brierley unit issues 100 mln dlr eurobond
on an agreement between the two countries to prospect for uranium in guinea the communique said musa and sylla agreed that because of poor market conditions it would be extended to cover exploration for gold diamonds cobalt nickel and silver
guenther aschoff chief economist at deutsche genossenschaftbank in frankfurt said massive declines on world stock markets had been the main reason for the fall in west german short term interest rates on tuesday
on the whole the deal appears to pose little risk for ge heymann said
japan isolated yen rises world feels cheated
shr loss 18 cts vs loss 20 cts net loss 629527 vs loss 697847 revs 404345 vs 1558951 year shr loss 56 cts vs loss 181 dlrs net loss 1910063 vs loss 5744588 revs 5999377 vs 6347702 avg shrs 3441513 vs 3175402
turnover was up to 129 billion stg from 12 billion
the trail smelter produced 240000 long tons of zinc and 110000 long tons of lead last year
piedmont fell one to 68 5 8 on volume of 963000
us census bureau figures released here showed factory and warehouse stocks on feb 28 included the following with comparisons in mln lbs 02 28 87 01 31 87 02 28 86 soybean oils crude 16633 x 15426 8937 refined 3005 x 2947 r 2874 total 19638 x 18373 r 11811 cotton oils crude 657 558 r 645 refined 1223 1096 r 1196 total 1880 1654 r 1841 x revised from preliminary data released in the bureaus oilseeds report of march 23
mine owners in malaysia have welcomed the atpc export curb and asked the government not to issue new mining licences
manufacturers mhc in building foreclosure
the current peak rate is 56 pct
renouf extends benequity holdings bh offer repeat new york march 16 renouf corp international said it has extended the expiration of its offer to pay 31 dlrs a unit to buy all outstanding units of benequity holdings a california limited partnership to march 24 from march 13
coastal cgp seeks to halt billion dlr lawsuit
i just dont see any proposal like that sailing through any interagency process the aide to lyng said
shipments during december 1986 amounted to 102870 tonnes against 108514 tonnes in the same month of 1985
the sec secured a temporary restraining order freezing all the assets of the defendants in the united states
another trader however described todays activity as business as usual adding that traders feel more secure because no liens can be put on texacos assets while it is in bankruptcy
dry areas of the australian sugar cane belt along the queensland coast have been receiving just enough rain to sustain the 1987 crop an australian sugar producers association spokesman said
we will probably bring the current account this year under 14 billion i think which will probably be about a billion dollars less than we forecast in the budget keating said
agip canada also holds 176000 net exploratory acres in western canada
qtly div six cts vs six cts prior pay april 28 record march 31
he said selective eep use has been successful in pressuring the ec
the basic problem of the ems is that governments are not prepared to make the quantum leap to a situation where certain decisions are taken in common said one economist who has closely watched the systems development
mcchip resources inc said it has agreed to exchange its interest in oklahoma oil and gas properties operated by reserve exploration co rexco for 638435 restricted reserve common shares
it will give att a lot more flexibility he said
drg plc issues 40 mln stg convertible bond due 2002 ind coupon 6 to 6 1 4 pct lead baring
he said the ibc has already settled with the sao paulo mercantile exchange how the auction system will operate
boone pickens iii said it set a deadline of 1600 est on march 11 for its offer to acquire japan fund inc
pay date is april 14
our representatives have gone to washington to the international monetary fund the world bank the fed federal reserve board and the us treasury to brief them in advance on this alternative and it has generally been positively received we dont believe that there is going to be a problem on the accounting side ongpin said
us trade representative clayton yeutter said he expects imports to fall soon but he was concerned about the lack of improvement in us exports given the dollars decline in the last 18 months
oil traders said nigerian brass river sold for delivery into the us gulf at a price related to north sea brent which traded this week at 1760 dlrs far below the official price of 1892 dlrs for the similar quality bonny light
nl industries inc 4th qtr shr loss 28 cts vs profit seven cts
the 12 1 4 pct notes will be redeemed at 10847 pct plus interest from november 1 1986
however top ldp executives will work out figures so that abe will be able to offer specifics to us officials
the increase followed a revised 04 pct rise in april
fruit loom ftl to sell unit for 145 mln dlrs
iran has deployed about six large missiles near the strait of hormuz which increase the threat to shipping in the gulf the new york times said
government bond prices initially firmed but the market was muted as traders worried about the funding implications of another huge rise in reserves they added
if there is such a provision it is private and if i talked about it it would no longer be private said the official who asked not to be identified
spokesmen declined to comment directly on the possibility of selling fichtel shares to mannesmann
a meeting has been set for tomorrow in brasilia of the cnpcs export marketing committee to establish a system for allocating the 25 pct of export quotas based on stock levels the spokesman added
weiss attributed the poor year to problems involving management manufacturing operations financial condition and credibility among its suppliers
hershey oil corp hso 4th qtr loss
the company could spend between 250 mln and 500 mln dlrs to buy another non copper firm durham said citing 100 mln dlrs of cash and 580 mln dlrs of untapped bank credit
security pacific spc unit offers certificates
there may be mild relief in some quarters that the us purchasing managers composite index a closely watched economic indicator rose only to 539 pct in march from 519 pct
tense trade ties to dominate ec talks
as a result of this ruling epac was excluded from a march 12 tender for the import of 80000 tonnes of maize
it said the purchase price and other terms of the transaction have not been disclosed
fields seeded during the optimum period last fall and especially those receiving supplemental irrigation water about 65 pct of the fields observed appeared to be in good condition with little evidence of winterkill while others varied considerably the report said
billiton seeks change in surinam policies
we have in fact been making adjustment loans to many countries in the developing world which have encouraged the opening of their markets and we want to be sure that the developed world doesnt close at the same time he said
in the past two years brazil paid 24 billion dlrs in servicing of its foreign debt while only getting two billion dlrs in new loans funaro said
the discovery well samedan oil corps ocs g 5537 well number one was drilled in 25 feet of water to a total depth of 7500 feet and found 38 feet of net gas pay in a 48 foot gross sand interval the company said
but opec would get through this period if members stuck together
redstone really wants to own the company one said
at asas annual winter board of directors meeting here asa leaders refused to change their official position on the loan still calling for income support at 502 dlrs
the charges resulted in nine month share loss of 244 dlrs and 12 month share loss of 168 dlrs
bow valley industries bvi sets secondary issue
baker said spending cuts are clearly the best way to cut budget deficits
three factors had caused the higher level in relative interest rates in britain lawson said
wichita industries inc wro 4th qtr net
japan cutting china corn commitments usda
zinc production increased to 26732 short tons in february from 25786 short tons in january
the company has not yet filed a plan of reorganization
lilaratne said planters would receive 10000 rupees per hectare for replanting and plants would be free of charge
earlier am reported a fourth quarter operating loss of two cts a share compared to profits of seven cts a share a year ago
non callable to maturity the issue is rated a top flight aaa by both moodys investors service inc and standard and poors corp
there will be a 250 dlr monthly minimum use charge
last month the moran group broke up and splintered into various factions
hudsons bay co said it signed a letter of intent to sell its hudsons bay wholesale unit to a private investment group
record date for the split will be set in the near future the company said
compared with a year earlier the index was down 07 pct due to lower vegetable fuel oil and utility costs
a us department of agriculture analyst in washington has said the figure of nine mln hectares would equal about 25 pct of the total winter crop and would be the second highest winterkill in 10 years
continued international currency turbulence could undermine plans for reinforcing the european monetary system the joint float holding eight ec currencies within narrow fluctuation bands which will feature high on the weekend agenda
the mayor said foreign companies would be invited to participate in some projects through international tendering
ambassador said its unit would purchase 100 pct of heritages stock for an initial payment of approximately 500000 dlrs and subsequent payments in cash over a five year period equal to 50 pct of the net after tax profit of heritage
banks to mull philippine debt proposal
reid said his estimate of crude oil prices this year was in the range of 15 to 18 dlrs
dealerships sold one kind of car a chevy or a ford or a studebaker
in two of the biggest transactions of recent months french owned minatome corp a unit of total compagnie francaise des petroles spent more than 230 mln dlrs to separately acquire oil assets of texas international teicc and lear petroleum partners lpp a spokesman for minatome said the company is searching for additional acquisitions
on march 4 another purolator shareholder rodney shields filed a class action suit on behalf of the companys shareholders charging the company and its board with breaching their fiduciary duty by failing to take steps to ensure that shareholders got the highest possible price in the buyout
this currency alignment between japan and the ec is reflecting the excellent performance of the ec countries
finnair chief gunnar korhonen would not discuss the price further than telling reporters the planes were inexpensive though market sources said the airline could expect a price cut as an earlier customer
oper shr loss 19 cts vs loss 38 cts oper net loss 239000 dlrs vs loss 476000 dlrs revs 160 mln vs 146 mln
already rich japanese companies have pounced on us banks steel and other businesses
but the sec brief was never filed since the case was dropped following an agreement between campeau and debartolo
dow chemical co dow 3rd qtr net
cornucopia resources ltd in drilling program
williams holdings bids 5422 mln stg for norcros
drexel burnham lambert inc is lead manager for both offerings
in a statement with its 1986 results the company said its information and entertainments sectors financial times ft newspaper had record sales and profits
the company said it also extended a 17 mln dlr secured loan to monmouth to finance completion of the renovation of another vessel the m v regent star which is scheduled to begin operating in late june
the rise was attributed to a shortage of rubber available to manufacture this type
the maximum rebate of 44819 european currency units ecus per 100 kilos was 13 ecus below what producers say is needed to obtain the equivalent price to that offered for sales into intervention
net includes pretax losses on disposition of product line of nil vs 3150000 dlrs in quarter and 3300000 dlrs vs 3150000 dlrs in year
canadian narrowly defined money supply m 1 fell 555 mln dlrs to 3242 billion dlrs in week ended march 18 bank of canada said
bilzerian said his course of action would depend on the companys prospects market conditions and other factors
industry sources said the new entitlements considerably higher than the previous limits are also more flexible because holders of new permits no longer need to frequently apply to rbi for release of foreign exchange for export purposes
energy ventures cinc engy 4th qtr net
the frankfurt meeting on monday soothed currency markets and the dollar gained over two pfennigs in after hours trading in new york
pesch said he has discussed his sweetened 191 billion dlr takeover bid for american medical with several large shareholders including the biggest investor the bass family of texas
1987 net includes gain of 20 mln dlrs from sale of building and extraordinary gain of 411000 dlrs from tax loss carryforward
the company paid a dividend of 14 cts per share on a pre split basis
the finance units subordinated debt which is guaranteed by the parent is rated b plus
an act of parliament passed last week granted the singapore authorities permission to raise 35 billion dlrs in the new market over the next four years
corrected bankamerica negotiating sale of units
domes statement said the transcanada announcement violated the terms and spirit of a confidentiality agreement entered into with prospective purchasers and was apparently timed to prevent dome from considering other proposals
the bond is available in denominations of 5000 and 50000 dlrs and will be listed in london
since the six nation accord last month sterling has risen sharply adding almost five pct on its trade weighted index
it said the distribution of about 20 pct of fishers common stock will be made april six to holders of record march 26
soviet 1988 oil output target at 625 mln tonnes
yesterdays session failed to reach a compromise but some progress was made he said
the new york may price was down 1559 at 10800 cents a lb
american express co remained silent on market rumors it would spinoff all or part of its shearson lehman brothers inc but some analysts said the company may be considering such a move because it is unhappy with the market value of its stock
japan to ratify 1986 international cocoa agreement
us housing data fail to clarify economic path
the official saudi press agency quoted him as saying his talks at riyadh with nazir had been constructive and good
1987 net reflects three for one stock split in 2nd qtr and issue of 15 mln subordinate voting shares in 1st qtr
qtly div 18 cts vs 14 cts prior pay march 31 record march 25
so saudi arabias 11 commercial banks have pinned hopes on negotiated settlements rather than enforced ones and are resigned to not being able to recoup loans in full
usdas action was taken to lower excessively high posted county prices for corn caused by high gulf prices
traders detail ec grain export licences
the issue is rated a top flight aaa by standard and poors
the napm said that if this average were to continue for the rest of 1987 it would be consistent with real gross national product growth of about three pct
thailand has an ec quota of an average 525 mln tonnes a year until 1990
last years soybean harvest totalled 71 mln tonnes according to official figures
healys numbers are near the low end of wall street estimates which range from five dlrs to 780 dlrs in 1987 and from four dlrs to 1080 dlrs in 1988
they said the tax which applies to spanish sales to ec and non ec countries alike would no longer be required on exports from spanish ports south of valencia
under the arrangements it would also arrange for the repayment of 645 mln stg in inter company debt
industrial equity ltd iel unit acmex holdings ltd said it proposed to make a formal takeover offer for all the issued capital of cheetham ltd a producer of salt animal feed and seeds
terms of the proposed transaction were not disclosed
in 1982 it posted a profit of 329 mln
the company said however that the sale will generate substantial cash flow to pay off bank debt and improve working capital eliminate unmanageable effects on profits of the price instability of the egg business and allow it to concentrate on its plastics packaging business
this summer is important cabinet affairs minister rashid al rashid said last sunday the cabinet has ratified recommendations to rationalise state spending in favour of productive sectors and reactivate the economy
shr 20 cts vs six cts net 861000 vs 266000 revs 102 mln vs 6036000 note 4th qtr data not given
act said it made the move to concentrate resources on its pharmaceuticals subsidiaries
the number of banks active at the exchange mainly trading government securities went up to 28 this year from 23 when the market was revived in december 1985
shr diluted five cts vs 13 cts net 278780 vs 442532 revs 5101747 vs 4293393 avg shrs diluted 6050968 vs 3414145 note net includes tax credits of 123500 dlrs vs 179000 dlrs
lasmo will control 70 pct of the equity worth some 76 mln canadian dlrs based on the current onyx share price
the department said the november 30 loans outstanding amounted to 200 billion dlrs and inventories 132 billion
at midday today hughes said it was still interested in the merger
but in a dissenting view the diw institute in west berlin echoing recent statements by leading bundesbank officials said the expansion seen over the last 1 1 2 years did not necessarily threaten stability
data card datc sees lower yearend results
as a results of its restructuring the number of employees the company had at year end were 820 compared with 1300 on june 30 1986 and 2500 on january 1 1985
he was speaking after a meeting with defense minister rafael samudio military chiefs and mines and energy minister guillermo perry to review the security situation in the light of a recent upsurge of leftist guerrilla attacks in the oil rich arauca region bordering venezuela
british caledonian group britains second largest airline has announced a 193 mln stg pretax loss for the financial year ending last october compared with a record pre tax profit of 217 mln stg in 1985 chairman sir adam thomson told reporters
they had also forecast todays total authorised sugar tonnage export awards to be between 60000 and 80000 tonnes versus 103000 last week when the restitution was 43699 ecus
in april central bank president wim duisenberg said he would follow any bundesbank cut and last week the finance ministry expressed satisfaction when it raised 225 billion guilders with a six pct coupon state loan priced at 10010 pct for an effective yield of 598 pct the lowest since 1965
all of our businesses are producing better results than last year even though we do not see significant improvement in the external market environment he said
however a new securities repurchase pact likely to be added next week to replace a facility expiring then could somewhat offset the drain
initial financing would come from the companys cash flow
new problems for world bank in debt strategy
shr 20 cts vs 32 cts net 1358000 vs 2476000 revs 271 mln vs 262 mln avg shrs 6852000 vs 7764000 nine mths shr 68 cts vs 105 dlrs net 4957000 vs 8129000 revs 826 mln vs 788 mln avg shrs 7316000 vs 7754000
plans are in the engineering stage with completion expected in mid 1989 the company said
for the first quarter 1987 the company reported net income of 103 mln dlrs or 40 cts per share compared to 93 mln dlrs or 36 cts per share for the comparable quarter a year ago
economists said the fed will inject temporary reserves indirectly to offset pressure on the federal funds rate associated with quarterly corporate tax payments to the treasury department
in a separate statement the federal statistics office said the rise in the overall number of people in employment had slowed in february
the grain sorghum harvest reached 17 to 19 pct of growers targets against 14 to 16 pct the previous week
im not going to comment on that because invariably the exchange markets read either more or less into my remarks than i might intend he said in response to a question from the house appropriations committee
officials of thailands rain making institute said its airplanes could help little because few clouds were forming for them to seed with rain making chemicals
i think even before the figures came out simply looking at key indicators such as consumption of fuel oil and power showed that the economy was on a different track from last year he said
terms were not disclosed
barclays bank said it cutting base lending rate to 105 pct from 11 pct
thereafter livestock farmers would benefit from a predictable and stable grain price he said
about 60 pct of usxs sales come from oil and natural gas
genentech convertible bond upped to 150 mln dlrs
transworld trust twt sets initial pay date
import tariffs should be lowered to minimise the inflationary impact of a currency depreciation
the association has tested the basis it uses to calculate a french franc price over the last few months to ensure it was reliable the spokesman said
spains inflation rises 04 pct in february
yesterday in a separate protest hundreds of thousands of farmers held rallies directed largely against high bank interest rates
other months will stay unchanged at 70000 except the new distant february requirement which will be set at 70000 from march 2
carl icahns bold takeover bid for usair group u has clouded the fate of piedmont aviation inc which was being courted by usair
qtly div 14 1 2 cts vs 14 cts prior pay may 4 record april 17
cineplex said the purchase price consisted of 225 mln dlrs cash and 652742 cineplex common shares
it may buy the rice valued at 55 mln dlrs between march 31 and august 31 1987 and ship it from us ports by september 30 the department said
usda discussing pl 480 agreement with morocco
world stocks of silver are large enough to accommodate any changes in the supply demand equation this year with industrial consumption expected to again exceed mine production the dealer house handy and harman said in its annual review of the silver market
prices were said to have been very attractive but details were not immediately available
the japanese purchases comprise 30000 tonnes for april 20 may 10 shipment 102000 for may 15000 for late may early june 36000 for june and 31000 for late june early july shipment the sources said
more us banks join in prime rate cut
this government is dragging australia through a trading holocaust the kind of which we have not seen since the second world war keating said
thailand is to negotiate tomorrow with selected trade houses for renewal of long term raw sugar sales contracts to cover the next five years at a rate of 60000 tonnes annually traders said
the loan for the suzhou aster hotel will mature in 10 years and is guaranteed by the provincial investment arm jiangsu international trust and investment corp the terms were not revealed
imperial oil ltd 70 pct owned by exxon corp xon will focus on maintaining its financial strength and improving near term earnings performance through operating expense reductions and selective capital spending the company said in the annual report
we have taken the appropriate action and the dollar has stabilized johnson said after testifying to a house banking subcommittee
dealers said federal funds were trading at 6 1 16 pct when the fed began its temporary and indirect supply of reserves to the banking system
the increase in shares outstanding will broaden the base of stock ownership in the company and the dividend increase reflects the directors positive outlook for the future prospects of pier 1 imports said clark johnson president and chief executive officer
this is totally by surprise said debra strohmaier a chemlawn spokeswoman
former treasury official urges currency reforms
group tendering for gencorp says it holds about 98 pct of gencorp common
papandreou says greeks ready for aggressors
the two week strike comes as brazil faces a debt crisis and is delaying exports badly needed to earn foreign exchange
ministers hope to approve a closure program when they meet again in brussels on june 1 the sources said
cominco ltd cuts lead price in canada
kiena said 57 pct owner campbell red lake mines ltd crk was expected to vote in favor of the split
howard b
the proposition represents a major step forward
the underlying trend which is a guide to bank of england operations to support the pound on foreign exchanges is net of borrowings and repayments
brazil finance minister meets french officials
subscriptions to the issue open april 1 and are scheduled to close april 7
oil minister abdel hadi kandeel last week said egypt plans to leave its oil production of 870000 barrels per day unchanged for the next five years
but siedenburg of smith barney thinks cyprus is overpriced at current levels
officials from indonesia malaysia singapore and perhaps thailand will meet here tomorrow to discuss increased regional cooperation on rubber marketing and ways to raise rubber prices industry sources said
ecuador suspended oil exports which made up 55 pct of the value of its total exports in 1986 for five months this year after an earthquake in march shattered the countrys pipeline
fees are 1 1 4 pct for selling and 3 8 pct each for management and underwriting
time tl in talks on cable news consortium
blockbuster entertainment corp said it will sell its investment in amtech corp to the company chairman david cook and president kenneth anderson
shr 66 cts vs 55 cts net 2422000 vs 1906000 revs 593 mln vs 474 mln
gmac australia finance ltd is issuing a 50 mln australian dlr eurobond due may 6 1991 paying 14 1 4 pct and priced at 101 pct sole lead manager hambros bank ltd said
proceeds will be used for the partial repayment of outstanding indebtedness anadarko said
the first credit a project financing will carry a basic margin of 5 8 point over london interbank offered rates libor with an additional 1 4 pct per annum payable on outstanding amounts to the extent that the property is not substantially pre let
nippon life japans largest life insurer also plans to set up a wholly owned investment unit nissei international america in new york next month and subsidiaries in canada singapore the cayman islands and jersey this year he said
us argentina settle soyproduct case yeutter
the states cdu premier uwe barschel had to resign after allegations of a dirty tricks election campaign led to heavy losses for the cdu in state elections
william siedenburg of smith barney harris upham and co said phelps has lowered costs and streamlined mining operations
skandinaviska enskilda issues yen bonds
clabir corp and ambrit corp said they called off their plans for clabir to buy the 16 pct voting interest in ambrit that it does not already own
the companies said they expect the merger will occur after the declaration of effectiveness of an amendment to magellans registration statement relating to its common stock purchase warrants and the underlying shares
proceeds of the loan will be used for the cash portion of the restructuring
a ban by a portuguese court on the state buying agency epac taking part in cereals import tenders open to private traders will remain unless it is reversed in portugal or challenged in the european court of justice european commission sources said
after the companys annual meeting rober mercer goodyears chairman and chief executive officer also said goodyear expects to report a profit of more than one dlr a share from continuing operations in the first quarter
diamond crystal dslt might sell salt unit
he said foreign stockholders cannot remit profits abroad until at least july 1988
the treasury decided to end the treaty after negotiations between the united states and the netherlands over the past eight years had failed to reach an accord a treasury spokesman said
shr two cts vs one ct net 83000 vs 32000 revs 112 mln vs 7625000
twa said however it also would be interested in discussing a three way deal among usair piedmont and twa
we are quite confident however that in the long term with two thirds of the worlds reserves in opec hands the future is ours
monday
mcivor said that decisions to explore and drill in those areas would be depedent upon both the expectations of a higher price of oil as well as the legal regime affecting the companies
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
i would admit that its impacts would be very marginal at first but it is a step towards the goal of separating production decisions from government payments collins said
diplomatic sources here said that west germany appeared likely to finish the year with the lowest growth rate of any of the group of seven leading industrial nations
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
oak said the acquisition is part of its two tier strategy of buying releated and unrelated businesses
report on export markets for us grain delayed
the paris club restructuring forms part of a 12 billion dlr financial package agreed with mexicos creditors last year
second quarter ended may 31
atlas the philippines biggest copper producer said it had been hit by depressed world copper prices
on the grounds of increasing production he said i would rule out a gasoline tax herrington also repeated he would rule out an oil import fee because of the widespread dislocation it would cause the loss of about 400000 jobs nationwide due to higher oil prices and a drop in the gross national product by about 32 billion dlrs
pending development of specific proposals atlantis said it will continue to purchase additional charter crellin shares in private or open market transactions depending on a range of factors including the market price of the stock
the offer is to expire march 13
until now bankers have criticised these spreads as far too low
weve been fiddling around with these problems for five years and the hour is growing late he said up to now the banks have reduced their spreads cut interest rates internally and extended maturities and none of these measures has been enough
group lifts airlease fly stake to 151 pct
fed sets two billion dlr customer repurchase fed says
the world has every reason to be furious with japan for not moving more quickly jardine fleming securities ltd economist eric rasmussen said
indian oil firm gets 35 billion yen credit
peabody holding co inc said it has completed its acquisition of substantially all eastern gas and fuel associates efu coal properties for 1501 pct of peabody holdings stock
singapore oil companies can set their own petrol and diesel prices at the pump from today subject to ceilings determined by their individual wholesale prices the ministry of trade and industry said
it said growing grain should be made profitable
iraq disassociated itself from the december agreement while the production figures of ecuador and the united arab emirates needed to be verified lukman said
rather we must be able to negotiate credibly for global liberalization yeutter said
argentina is currently negotiating terms with the steering committee for its creditor banks that will allow it to meet four pct economic growth targets in 1987
all options are open at this moment in the context of cooperation on oil production a venezuelan energy and mines ministry source said
gottlieb joined lorimar as senior vice president in 1985
brazil seeks to reassure banks on debt suspension
coastal bancorp csbk sets quarterly
kdi a diversified company produces electronic components technical products and swimming pool equipment
the oecd said italys gdp may grow by three pct in 1987 but will then fall back to 25 pct in 1988
the farmers traded stones for tear gas and rubber pellets and occupied local government buildings while in the southern city of malaga citrus growers dumped more 20 tonnes of lemons on the streets in protest at ec duties
bank of france sells 845 billion franc tap stocks
bankworkers leaders said that a national strike launched yesterday to press for a 100 pct immediate pay rise and monthly salary adjustments had the support of most of the 700000 workforce
the fact the dollar plunged below 150 yen does not mean anything significant under the floating system he said
intl thomson itoto plans preferred issue
guyana finance minister optimistic but seeks help
aileen inc aee 1sr qtr jan 31 loss
we believe the action being proposed will begin to contribute to improved earnings in the fourth quarter of our fiscal 1987 and throughout fiscal 1988 the company which is one of the nations largest construction firms also said termination of its defined benefit retirement plan would produce a pre tax benefit of about 10 mln dlrs due to overfunding of the plan
charter also said a plan for liquidation of independent has been approved by the bankruptcy court and will be completed after march 31
lubys cafeterias inc lub 2nd qtr feb 28 net
to increase output quickly the state will raise by 10 pct the price it pays for cotton produced above and beyond quota levels the newspaper said
per share figures come after preferred dividend requirements
bundesbank retains money supply policy
it said the net loss from its soo line increased to 335 mln dlrs loss from 87 mln dlrs loss in 1985 mainly due to restructuring charges
diebold inc dbd declares dividend
the company explained that underwriters exercised in full their option to increase tohe offering by buying an additional 4950000 shares over and above the 33 mln brought to market yesterday
hillsdown buys bedding companies for 23 mln dlrs
moto photo inc moto 4th qtr net
a ministry official told earlier this week the ministry had recently surveyed foreign exchange transactions by institutional investors but he declined to say whether this was aimed at moderating the dollar sales
the average forecast called for a 22 billion dlr m 1 rise
they forecast a final dividend of 29 cents for a total of 42 cents for the year against 38 cents in 1985 adjusted for a one for five bonus issue
and payment of greenmail or a preferential price by a target company to buy back a raiders stake should be prohibited under the revised laws
philip morris gained 1 3 4 to 88 1 4
shr 26 cts vs 18 cts net 2102000 vs 1415000 revs 441 mln vs 422 mln year shr 21 cts vs 91 cts net 1678000 vs 7105000 revs 1551 mln vs 1492 mln note current year figures include 101 mln dlr writedown of costs and investments associated with ethanol refinery project
fumio watanabe head of a telecommunications committee with the federation of economic organisations keidanren told a news conference japanese shareholders in the two consortiums agreed that the us and british companies will be invited to participate in the new merged firm
kodak said it secured worldwide marketing rights for three of enzons peg enzymes used in the treatment of oxygen toxicity disorders hyperuricemia and gout
the payments will be issued through local agricultural stabilization and conservation service offices it said
but the group acting through clevebaco lp a cleveland partnership also said it would seek regulatory approval to increase its stake
so its preferable they negotiate now a move which would eliminate any chance of panic in the markets
no move was made to reopen dialogue on export quotas and no further discussion on the issue is likely during the three day talks they said
a swedish finance ministry committee forecast that british petroleum plc bpl may have to close its refinery in gothenburg because of an anticipated worsening of the swedish petroleum industrys competitiveness
we have absolutely no trouble producing an eight billion bushel crop on only 80 mln acres or so an analyst said
hall and co an insurance and brokerage firm said it has joined with risk science international to offer banks a new service that assesses their environmental risk level
equiticorp hongkong ltd is planning a 30 mln us dlr transferrable loan facility to raise working capital lead managers manufacturers hanover asia ltd and manufacturers hanover ltd said
prior qtr ended march 1 1986
john loynes continental chief financial officer said the fresh start provision allowed the company to discount opening tax reserves to january 1 1987 which released deferred taxes into earnings
calny inc clny sets quarterly
computer associates ca starts bpi bpii bid
we had a buy on it below 20 but when it gets to 28 let somebody else have it he said
1985
kaunda said that once preparations had been completed for evacuating zambias mineral exports on safe and dependable routes his government would look to increase its usage of tazara for other types of cargo
the company which has two days to repay the note said there is no assurance it will be able to find the funds needed to meet the payment
only about 10 vessels are being delayed but the bans will affect container terminal movements and will disrupt liner schedules they said
i believe there will be some renegotiation along the way between brazil and the banks such that the banks will not have to charge off their loans to brazil merrill lynchs neuhaus commented
us farmers who reorganize their operations to circumvent a cap on federal payments could add 23 billion dlrs to the cost of the governments agricultural programs by 1989 the general accounting office gao said
shr loss 19 cts vs profit seven cts net loss 851000 vs profit 227000 revs 2600000 vs 4800000 year shr loss 46 cts vs profit 19 cts net loss 2100000 vs profit 600000 revs 9900000 vs 159 mln
the dollar straight sector of the eurobond market ended lower after another nervous days trading with many operators keeping to the sidelines ahead of tomorrows us trade figures for february dealers said
london and scottish marine oil plc lasmo lasll will have an advantage when oil prices rise again and it is confident this will happen early in the next decade the company said in a statement accompanying results
it said the conversion will also reduce its annualized net interest expense by about 11 mln dlrs or 600000 dlrs after taxes
the non callable issue will be available in denominations of one mln yen and will be listed in london
a brazilian seamens strike which began on february 27 and has been tapering off for weeks has now ended a seamens spokesman said
hanover cos inc 3rd qtr jan 31 loss
both are payable july 27 to holders of record july one and the the split is subject to shareholder approval at the may 18 annual meeting of an increase in authorized common shares to 500 mln from 40 mln the company said
although the bill includes a narrow version of the 0 92 provision endorsed by the reagan administration the us agriculture department withheld its support from the measure
bps partner in the venture is galactic resources ltd galcf of toronto
in the past farm interests opposed to cargo preference have been defeated in congress by the maritime interests who view cargo preference as vital to the us shipping fleet
the company received its initial public listing in december
the bond will be listed in luxembourg and is available in denominations of 1000 dlrs
in an interview with chairman g
moodys may downgrade duquesne light dqu debt
the seven year put option was priced at 118 pct to give the investor a yield to the put of 731 pct
us treasury says no plans for special bonds
comdata network inc said it has received a letter from drexel burnham lambert inc stating that subject to conditions the company could raise up to 235 mln dlrs in debt securities to finance the previously announced merger of a newly formed corporation controlled by welsh carson anderson and stowe iv and comdata
year 1986 div 70p vs 122p shr 96p vs 313p pretax profit 44 mln stg vs 1180 mln net 176 mln vs 377 mln total turnover 1838 mln vs 3480 amortisation 714 mln vs 863 traded oil purchases 412 mln vs 445 mln administration expenses 62 mln vs 80 mln net interest payable 64 mln vs 48 mln related companys credit 61 mln vs nil
in the full year they gained one pct
canada is responsible for 13 of the seaways 15 locks and about 85 pct of its revenues and maintenance costs
the absorption of enormous aid given to the philippines is also poor
it was the 43rd bank failure in the nation this year
the sale is expected to conclude by the middle of april bow valley said
the sec issued a formal order launching the private investigation on nov 12 1986 icahn said in the sec filing
white house and defence officials said that massing the fleet was routine and had nothing to do with the iran iraq war or irans stationing of missiles near the mouth of the gulf
each debenture is convertible into the companys common stock at a rate of 5455 dlrs per share which represents a conversion premium of about 258 pct over the last sale price of 43 3 8 per share yesterday it said
local and foreign securities housess may now underwrite 262 pct of 10 year bonds up from 26 pct previously
spain raises banks reserve requirement
the company said the agreement is subject to approval by the government and its shareholders
he also said japans ruling liberal democratic party has justed adoped a package to reflate the economy while other nations are not supposed to produce new measures in a short period since the paris agreement
nicanor araya a member of the popular democratic movement mdp was named president of the chilean confederation of copperworkers ctc which groups 22000 workers employed in the state owned copper mines union officials said
the following rainfall was recorded in the areas over the past 24 hours parana state umuarama nil paranavai nil londrina nil maringa nil
however the agency said first interstate has high liquidity and is less vulnerable to latin american credits than its peers
brown reported 1986 net income of 105 dlrs per share or 545 mln dlrs on revenues of 1917 mln dlrs
reichhold chemical inc said its board adopted a warrant dividend plan in which one preferred stock purchase right will be distributed as a dividend on each common share outstanding
tecsyn international inc said it terminated takeover discussions with a us based investors group after the group was unable to establish access to funds to complete the proposed transactions contrary to previous assurances
they said the difference between bids and offers widened
the central banks weekly auction of foreign exchange to the private sector has been suspended since the end of january pending modifications to slow down the rate of devaluation and dampen fluctuations in the exchange rate
first eastern corp febc completes acquisition
the number of reported cases has doubled over the past 20 years he said to 40000 cases annually
gb ltd and phillips petroleum co uk ltd
but the government has repeatedly said it will not allow any banks to go under
steinhardt group has 66 pct of holiday hia 
pillsbury said corporate expense showed a 43 mln dlr profit in the quarter reflecting a 105 mln dlr gain on the sale of a joint interest in an australian food company and lower corporate expenses largely as a result of an early retirement program initiated a year ago
if that is the case you should recognize that our additional equity capital may very well enable us to offer cash and securities having greater value than gencorp could provide in any similarly structured transaction the partnership said
the world bank said it will provide 371 mln dlrs to tanzania and rwanda through the international development association ida the banks concessionary lending affiliate
domestic demand will continue to replace exports as the motor of economic growth
oper shr 25 cts vs six cts oper net 840000 vs 139000 revs 8290000 vs 4743000 avg shrs 3335029 vs 2400000 year oper shr 97 cts vs 53 cts oper net 2546000 vs 1275000 revs 288 mln vs 185 mln avg shrs 2635665 vs 2400000 note net excludes investment gain four cts shr vs loss six cts in quarter and gain five cts vs loss six cts in year
merrill lynch uk executive charged by sec
canadian money supply falls in week
an agency spokesman said that if usair which has proposed to buy all of piedmont shares controls more than 51 pct of the firms outstanding stock it will have one week to sell those excess shares
1986 quarter net includes reversal of 216000 dlrs in investment tax credits
north american communications corp said it is considering several options to maximize shareholder value including a possible sale merger corporate restructuring or leveraged buyout
the monthly rise in the all items index base 1980 was 13 pct to 2734 in september after edging up to 2700 in august
group of five meeting ends
datarex systems inc said it was named a distributor for minnesota mining and manufacturing cos data recording media and other computer suppliers and accessories in the united states
the provision for loan losses for the first quarter was eight mln dlrs compared to 11 mln a year ago
the exchange said there were nil bags pending classification
usair closed up 5 3 8 at 49 1 8 on volume of 19 mln shares
cotton entering gins is of fairly good quality according to trade sources it said
southland corp raised crude oil postings 50 cts bbl wti now 19 dlrs bbl
singapores external trade grew 88 pct in first quarter 1987 against a 124 pct decline in the same period last year and two pct growth in the previous quarter the trade development board said
french 13 week t bill rate rises to 854 pct from 765 bank of france
under the plan which was presented to institutional lenders the companys unions and the pension benefit guaranty corp substantial amounts of institutional debt would be converted to common stock of the restructured company
savin corp said the first period for the exercise of the special conversion right for its zero coupon convertible senior notes due february one 1996 has expired
bond traders said the japanese who purchased a record 95 billion dlrs of canadian bonds last year have adapted to the changes by buying longer term provincial issues and shifting to the medium term issues offered by ottawa
as with the previous 64 eep initiatives sales of us barley malt would be made to buyers in colombia at competitive world prices usda said
essex communications corp essxa year loss
the main factor for the december upward revision was new business formation
shr loss 34 cts net loss 171 mln vs profit 101 mln revs 1062 mln vs 1012 mln six mths shr loss 28 cts net loss 144 mln vs profit 116 mln revs 2372 mln vs 1795 mln note company said year ago per share not given as not comparable due to certain allocations of expenses from the turner entertainment group not made in subsequent periods
meanwhile demand for canadian exports in the united states by far the countrys largest market is expected to be strong as a result of a projected rise in american consumer spending and the relatively low value of the canadian currency
public service co of indiana inc said it acted today to replace 35 mln dlrs in existing debt estimating that would save it about 18 mln dlrs a year
stenholms bill is not a rejection of 0 92 only of the timing a congressional staff member said
i feel this is a strong step on the road to balance through expansion while i do not deny the existence of the trade deficit between japan and the ec i believe it should be rectified not by reducing trade through import restrictions or export restraints but by expanding the overall trade tamura said
wtd industries inc said its offer to buy the bankrupt harris pine sawmill in pendleton oregon was rejected by the bankruptcy court trustee
fruehauf corp which went private in december through a leveraged buyout said the predecessor company had a 1986 loss of 609 mln dlrs compared to earnings of 705 mln dlrs in 1985
the latest crises created an historic opportunity to solve the disputes between the two countries the foreign ministry statement said
us defence officials disclosed in washington yesterday that the us navy which has about 24 warships in or near the gulf was prepared to escort kuwaiti tankers regular targets for iranian attacks in an offshoot of its war with iraq
jp industries jpi confirms proposal
year on year wholesale prices fell 19 pct in february after drops of 33 pct in january and 18 pct in february 1986
qtly div 14 cts vs 14 cts prior pay march 13 record march two
the fall in foreign exchange reserves took these reserves to 9883 billion francs at the end of january from 10774 billion at end december
the radio said the spokesman made the statement following the attack on a kuwaiti ship under the us flag and comments by american officials on carrying out retaliatory action against iran the spokesman said any us military aggression against iran will certainly be the beginning of an extensive clash in the persian gulf and amidst this our principled policy is to confront any act which escalates tension
us real earnings rose 06 pct in february
denominations are of 5000 francs
carolian systems international inc said it anticipates profit for fiscal 1987 ending june 30 will be lower than fiscal 1986 earnings of 410000 dlrs despite an expected revenue increase of 37 pct to more than 35 mln dlrs
more of our growth will need to be reflected in net exports and business investment and less in consumption volcker said
amstutz told a house agriculture appropriations subcommittee hearing that soybeans are caught in a squeeze because the farm bill allowed steep cuts in grain loan rates while limiting the soybean reduction
certain consumers are concerned that differentials included in the draft buffer stock package are out of line with market realities consumer delegates said
rice supply demand for thailand usda
exporters said dauster is not under any great pressure to start marketing coffee immediately
the issue which matures april 3 1992 has an indicated coupon of 5 1 2 to six pct and par pricing
at the same time the ministers will discuss the fundamental price weakness in basic commodities the export mainstay of many developing countries
the official made no direct comment on the content or schedule of forthcoming group of five and group of seven discussions
a study commissioned by one of the main supporters of the secondary market idea the american council of life insurers concludes that the farm credit systems market share in rural lending would fall if a secondary market were established
the cause of the explosion and the extent of damage to the elevator was not immediatley known
thai sugar production continues high in feb
it said selling offers will be due at 1100 hrs est march 24
for the interim period however we concluded that the responsible procedure would be to record income only as we receive payments on the loans he added in a statement
for oecd states the increase was 07 pct but the january level of retail energy prices was still 116 pct lower than a year earlier the oecd said
the major gold deposit to be acquired by norgold is 100 pct of the bottle creek deposit west of leonora in western australia nbh said
it was the first official iranian reaction to the attack by four us navy destroyers on the reshadat oil platform
pegasus gold inc pgulf 3rd qtr dec 31 net
the group which also includes anglo american security fund lp and tb pickens iii tuesday proposed an entity it controls acquire for cash all the assets of japan fund for 95 pct of the funds aggregate net asset value
this should then flow back into the market as it is deposited with banks
canada banks could see pressure on brazil loans
fourth national a bank holding company with about 500 mln dlrs in assets said in a statement that it will continue to operate its four subsidiaries and retain its employees
it is not a question of monetary conditions if domestic demand does not grow strongly he said noting that interest rates are at historically low levels and funds are ample
analysts have said that purolator has been for sale for some time
mellon bank na of pittsburgh and republic bank of dallas have both raised their prime lending rates to 7 3 4 pct from 7 1 2 effective immediately
mondays report that the usda inspected 46 mln bushels of corn for export last week was unexpectedly high and coupled with a lack of farm sales provided support for the corn market traders said
tasmanian public finance has australian dlr bond
fhlbb changes short term discount note rates
west germany and tanzania have signed an agreement on rescheduling 145 mln marks worth of commercial credits the finance ministry said
my own view is that we are on course and the first indications from the original paper an auction at the end of april or in may must be the best assumption he said
argentinas 1987 financing needs come to 353 billion dlrs including the 215 billion from banks and a 138 billion dlr imf loan already agreed
we have a job to do persuading them we can do better than our reputation seems to be he said
shr loss eight cts vs profit nil net loss 488759 vs profit 14289 sales 6067676 vs 5047383
air products and chemicals inc apd 4th qtr net
cattle slaughter is guesstimated at about 128000 to 131000 head versus 129000 week ago and 127000 a year ago
west germany tanzania agree debt rescheduling
unisys corp uis sets quarterly
revlon currently has about 42 mln shares outstanding
qtr ended nov 30 shr loss nil vs profit nil net loss 1321940 vs profit 128164 revs 4582260 vs 5115456
one senior floor trader said the financial futures room badly needs renovating
david durenberger r minn offered the corn amendment which urges the administration to file a complaint with the gatt if the us believes the corn decision by canada was unjustified
the storm produced winds of about 75 mph
denominations are 10 mln yen
new applications for unemployment insurance benefits rose to a seasonally adjusted 355000 in the week ended march 21 from 341000 in the prior week the labor department said
lo said the prospects for shipbuilding were gloomy at least until 1991 due to overtonnage but the outlook for ship repairing was bright
peerless earned 576000 dlrs or 63 cts per share in fiscal 1986
the issue will be in three tranches with bnp being the book keeper for a 770 mln franc 15 year 910 pct fixed rate tranche issued at par
they said it is mainly due to 1300 billion yen of government tax allocations to local governments and public entities and to excessive banking system cash holdings due to continuous large central bank dollar purchases
spie batignolles has held a 20 pct stake in comstock since february 1986
williams said the charges in the current year were related to an ongoing restructuring
he gave no figure for expected output except to say it would probably be down a little from 1985 86
while the option may be unpalatable to the us banks it could offer others a potential repayment of slightly more than half their investment over the next seven years
tie communications inc tie holds 65 pct interest
the belgian national bank said it cut one two and three month treasury certificate rates all by 010 points effective immediately
the company also said its first quarter results are expected to include a provision for loan losses of 55 mln dlrs about 20 mln dlrs over net loan charge offs of about 35 mln dlrs
oper shr 45 cts vs 42 cts oper net 330 mln vs 311 mln revs 7498 mln vs 7165 mln nine mths oper shr 123 dlrs vs 111 dlrs oper net 911 mln vs 813 mln revs 22 billion vs 21 billion note prior nine mths and qtr excludes loss of 23 mln dlrs due to discontinued operations
the last october negotiations collapsed in disagreement over buffer stock operations
its just one of the steps the executive has begun taking to reestablish financial flows to the country azpurua told reporters at the finance ministry
but increasing use of the product in parts attached to car engines will raise demand and the company will boost output to 10 tonnes by march 1988 from two now he said
since yield premiums of corporate over treasury bonds are now the lowest in years many investors believe corporates are overvalued versus treasury and agency issues
consumers and producers agreed yesterday on the principles as a basis for negotiations
austrian 1987 growth seen between 05 and 15 pct
olivetti spa olivmi unit olivetti peripheral equipment spa
citroen expects higher profits helped by ax
the firm would have made a small profit in 1985 had it not been for 456 mln schillings lost by subsidiary merx handelsgesmbh on oil trading
after petrobras threatened to cancel the contract the saudis changed their minds and decided to accept the bank of brazils credit guarantees he said
dealers noted that the bank of england last week issued one billion stg of nine pct exchequer bonds due 2002 in an effort to dampen enthusiasm for an interest rate reduction caused by sterlings uptrend on foreign exchange markets
usda said factors once supportive of increased long grain acreage have turned around
scotia mortgage issues 100 mln canadian dlr bond
this was in line with earlier forecasts of profit of between 770 and 800 mln francs
sterling was briefly depressed by the rate cut but this morning opened very strongly again starting on a trade weighted basis at 726 against yesterdays final 721 and later edging up to 727 uk money market rates declined again this morning by up to 1 8 point strongly reinforcing yesterdays speculation that clearing bank base lending rates could drop into single figures after the budget next tuesday money market dealers said
bank of japan sources told in tokyo earlier this week that they believed the limits of currency market intervention are perhaps being reached and that other methods for bolstering the dollar such as invoking currency swap agreements with other central banks are being considered
he said he expects opec will extend its current agreement to restrict production
the smelter also produced cadmium bismuth and indium
the company also remained silent last thursday and friday as rumors drove american express stock up a total of 5 1 2 dlrs in two days to bring it to a friday close at 74
us banks to get approval for securities business
proposed offerings recently filed with the sec
the solids processing equipment business involves manufacture of crushing and related equipment for mining
economists would also not rule out an outright bill pass early this afternoon
discussions are also under way to arrive at a formula to compensate ecuador for the loss in oil export revenue while the pipeline is repaired officials said
if there is no agreement world prices will always be depressed particularly because the european community is subsidising its producers and dumping sugar on the markets he said current world prices holding steady at about 760 cents per pound were uneconomical for the philippines where production costs ranged from 12 to 14 cents a pound
spot market prices have firmed in the past two weeks but still remain below opec levels and major buyers have delayed liftings in the hope they would improve the sources said
north hills said construction of the plant which will make electronic power supplies and interconnect devices for computer local area networks will be completed by the second quarter of its current fiscal year
claremont to boost champion products ch stake
but it was not possible to make a profit forecast for 1986 87 because of uncertainty about the direction of the dollar kaske said
there were 3814891 gallons of foreign imports last week versus 133505 gallons the week before
in 1986 company changed fiscal year end to dec 31
uk consumption of lead and zinc in all forms during january rose to 26314 and 18778 tonnes from 24967 and 17929 tonnes respectively in december latest figures by the world bureau of metal statistics wbms show
a decline in the average quality of borrowers on the swiss franc market and a debate on the use of registered shares to prevent takeovers have made both major issues among bankers
french subsidiary union carbide france and west germanys linde ag lingf aga topped rival bids for the gases distribution group in may by raising its offer to 4410 francs from 4000 francs
slifer expects modest m 2 and m 3 growth rates of 3 1 2 to four pct during march
merrill lynch said its representatives discussed a possible leveraged buyout with borg warner as early as last december
in his march annoucement reagan said i am committed to full enforcement of our trade agreements designed to provide american industry with free and fair trade opportunities he added the tariffs would be lifted once japan honored the pact it signed last year to end dumping semiconductors in world markets and opened its home market to us products
the offer capitalises ic gas at around one billion stg
seven oaks international inc qpon in payout
taiwans surplus with the us rose to 136 billion dlrs last year from 102 billion in 1985 government figures show
the hart scott roding waiting period on the takeover will expire june 17
he said the universities were strapped for cash and that the association suspected the junior partner in the coalition government the liberal front party pfl of using education funds for projects which had helped their candidates in elections
accepted bids ranges from 592 to 599 pct and 60 pct of the bids at the high or stopout rate were taken
shr 39 cts vs 27 cts net 1713000 vs 1207000 nine mths shr 113 dlrs vs 70 cts net 4935000 vs 4352000 loans 8432 mln vs 9372 mln deposits 9541 mln vs 1043 billion assets 109 billion vs 119 billion
the only other major eurocredit a 500 mln dlr deal under the agency of gulf international bank was signed in october 1985 and is still in a two year grace period
pasars smelter is in the central province of leyte
between september and november however certificates had only a marginal impact on corn prices according to the ers study obtained by
shr 85 cts vs 24 cts net 2381000 vs 754000 revs 353 mln vs 326 mln avg shrs 2777620 vs 3161603 six mths shr 135 dlrs vs 44 cts net 3756000 vs 1388000 revs 658 mln vs 643 mln avg shrs 2777620 vs 3161603
the underwriting fee is 1 8 of a percentage point over the hong kong interbank offered rate
river oaks industries inc said it agreed in principle to give control of the company to benson seizer a new york investor in return for 26 mln dlrs in capital
silver looks unlikely to break out of gold and platinums shadow in the near future although this year is likely to see demand increasing at a faster rate than supply a study by credit suisse said
the may rate surpassed the previous record of 30 pct marked set in january and april this year
in the year to end march 1988 bgc will pay back a further 250 mln stg followed by 400 mln in both 1988 89 and 1989 90 and the remainder in equal instalments of 350 mln over the next two years
the us agriculture department gave a preliminary breakdown of grain in the farmer owned grain reserve as of april 1 with comparisons based on telephone reports from farmers filed with the departments kansas city field office in mln bushels april 1 previous wheat 6576 6597 corn 14065 13970 sorghum 958 955 barley 1221 1220 oats 37 37
swiss sight deposits fall 464 billion francs
the company said it is optimistic it will recover in the second half and report higher earnings for full year fiscal 1987
the contractual ratio is 30 pct heavy crude to 70 pct light
offshore investor has 59 pct of hauserman hasr 
in 1986 searles sales were 665 mln dlrs
bank of british columbia said it revised its estimate of shareholder distributions from last novembers sale of most of the banks assets to hongkong bank of canada to between 65 cts and 115 dlrs a share from 55 cts to 120 dlrs a share
in the circumstances the government had only a slim chance of producing a meaningful economic package in the near future dai ichi kangyos tanaka said
there was no immediate response from norcros
citadel cdl settles with great western gwf 
high point financial corp is raising six mln dlrs through an offering of redeemable subordinated debentures due 1997 yielding 865 pct said sole underwriter ryan beck and co
arden international aiki 4th qtr dec 27 net
oper shr loss nil vs loss nil oper net loss 112000 vs loss 125000 revs nil vs nil avg shrs 267 mln vs 219 mln year oper shr loss two cts vs loss two cts oper net loss 450000 vs loss 503000 revs nil vs nil avg shrs 248 mln vs 208 mln note net excludes losses from discontinued oil and natural gas operations of 447 mln dlrs vs 9489000 dlrs in quarter and 923 mln dlrs vs 807 mln dlrs in year
nor quest said it plans to bring northairs willa mine in the nelson area of british columbia into production using nor quests recently acquired 1200 ton per day mill located in the area
the company also recently set up its own operating management which was previously carried out by dome petroleum maison placements canada inc analyst denis mote commented
the yield on 91 day bankers security deposit accounts issued this week by the saudi arabian monetary agency sama rose to 643896 pct from 621563 a week ago bankers said
derose industries inc dri 4th qtr
he told a lower house budget committee in parliament that it was natural for other nations to think that japan is not doing enough because of the delay in the passage of the 1987 88 budget
showboat opened the hotel during its third quarter and gaming began last thursday on a regular basis after test gaming was completed earlier in the week
magma mgcpv sees profitable copper production
diesel would rise by 75 pct
the supreme court spokesman provided no other details
hockin was responding to questions in the house of commons about why credit card rates which run as high as 28 pct per year remain high when other rates are falling
siemens already reported that first quarter 1986 87 group net profit fell marginally to 296 mln marks from 298 mln in the same period in the previous year
it suspended interest payments in january on 54 billion dlrs owed to about 400 private foreign banks
shr loss two cts vs profit 10 cts net loss 76000 vs profit 357000 sales 8987000 vs 153 mln 1st half shr loss 12 cts vs loss seven cts net loss 440000 vs loss 246000 sales 132 mln vs 206 mln
principal and interest will be payed each month beginning may 25
susan hackmann of agrianalysis said there was some confusion over whether trade ideas of an enrollment figure between 15 and 18 mln acres referred to the total sign up or the latest addition
this would compare with a 1986 surplus of 95 billion dlrs
but i note that whereas our higher offer was in cash ferruzzi apparently is still organising finance callebaut said
credit national is issuing a 100 mln dlr eurobond due april 23 1992 with a 7 3 8 pct coupon and priced at 101 5 8 pct ltcb international said as lead manager
shr profit 20 cts vs loss two cts net profit 2665000 vs loss 202000 revs 12141000 vs 5993000 year shr profit 35 cts vs loss 11 cts net profit 4653000 vs loss 1167000 revs 351 mln vs 180 mln note company corrects reporting period to 4th qtr and year from 3rd qtr and nine mths
forecasts for lemons will be issued in october november january april and july and for grapefruit in october january april and july and for tangerines in october january and april
nigeria changes auction rules to defend naira
an official with one of the chinese banks said the deal was launched at an effective yield of 726 pct in line with the market at that time
alpine associates a cresskill nj securities dealer told the securities and exchange commission it has acquired 565100 shares of leaseway transport corp or 59 pct of the total outstanding common stock
international fine foods makes acquisition
ganilau said however the bank is prepared to carefully consider requests for rescheduling loan repayments in cases of hardship on a case by case basis in response to a further demand that all soldiers be removed from the cane growing areas ganilau said the army would restrict its presence in the cane areas
credo petroleum corp cred 1st qtr jan 31 net
wells fargo bank provided senior debt financing to bearing acquisition and donaldson lufkin and jenrette provided bridge financing in the form of subordinated notes preferred stock and common stock in an amount sufficient to fund the purchase price allied signal added
on friday taft vice chairman dudley s
this is the first time a japanese trading house has traded non japanese dairy products in the world market he said
the chinese firm offered to build the vessel at over 30 mln marks less than west german yards despite government subsidies which bonn pays its ailing shipbuilding industry hapag said
the firm believes it is on target to raise its share of the european market excluding france to 32 pct this year from 29 pct in 1986
monier was trading at 280 dlrs when csr launched its original bid of 350 or 168 times earnings in late april
euro medium term notes a recent phenomenon in the international capital markets are hardly attracting a flood of issuers but investment bankers are doing their best to breath life into the market
the bonuses awarded averaged 3622 dlrs per tonne and the wheat is scheduled for delivery during may oct 1987
more than three quarters of the total some 290000 tonnes will come from the united states
i would rather describe this as savings coming from eliminating non essential activities as we purify the exploration and production business there are some people associated with those activities but it is more a matter of cutting and trimming rather than wholesale changes blackburn said
manufacturing payrolls increased by 24 billion dlrs last month after rising 19 billion dlrs in february with the gains widespread through durable and nondurable industries the department said
us sells 1 year bills at average 568 pct stop 568 pct awarded at high yield 71 pct
pharmacontrol pharo acquires revco unit
the federal reserve is expected to intervene in the government securities market to add temporary reserves indirectly via 15 20 billion dlrs of customer repurchase agreements economists said
revlon today rose 3 8 to 19 1 4 in active trading
fees are a 1 3 8 pct selling concession and 5 8 pct combined management and underwriting
he said that in the case of war with turkey it would not be possible for greece to discuss the future of american military bases here
anything the usda is announcing now is based on information they gathered before their cotton program was announced on march 20 one analyst cautioned
energy goods at the intermediate stage of processing rose 27 pct in february after rising 35 pct in january and were down 161 pct over the past 12 months the labor department said
operating income was slightly higher than a year earlier he said the companys financial strength gave it exceptional opportunities to invest for the future
chilean copper workers elect left wing leaders
oil prices rallied immediately after the geneva accord but fell again last month on reports that opec was producing more than the agreed level
barker and co jmr barker foundation quaker hill associates lp upland associates lp and james m
unilevers 1985 final dividend amounted 2705p the adjustment stemmed from the dividend equalisation agreement between the british company and its dutch partner unilever nv
nonthapanthawat said if economic growth continues at its current pace and oil prices and major currencies remain stable the five billion 1987 reserves target can easily be reached
rockefeller center properties inc rcp 3rd qtr
we consider nickel prices as bad at the moment although they have been rising slightly since january refinery sales manager pekka purra said
the loss of the other half of the credits was reflected in the fourth quarter
midlantic midlo to acquire county bancorp
the belief that economic liberalism will produce an explosion of economic forces is ideological said indosuez chief economist jean cheval
kloeckners nominal 100 mark profit participation certificates issued in october 1986 will pay a likely yield of around 10 pct
soviet economist sees few 1987 gains in us trade
however some of the tonnage included duplicate bids for supplies in the same stores
ended jan three shr profit five cts vs na net profit 58088 vs loss 279718 revs 6310841 vs 5468893 year shr profit 12 cts vs loss 74 cts net profit 126321 vs loss 773090 revs 231 mln vs 191 mln note loss per share not given for quarter
american stores co said it expects to report earnings per share of 370 to 385 dlrs per share on sales of slightly over 14 billion dlrs for the year ended january 31
moreover some of the contraction in m 2 can probably be explained by a shift of funds from savings vehicles into the booming stock market and is thus not an indication of a slowdown in the business expansion
us 1987 corn soybean acreage estimates corn 67556000 acres beans 56885000 usda
on average it looks like theyll total 120 to 121 mln dlrs in the first quartrer she said
the 155 mln bag offer had been made on the assumption an agreement would bring stability to world markets he added
walter reade operates 11 screens in eight manhattan locations
copper stocks outside us increase in december
now they can resolve their problems for once and for all the most conservative ones who want a little more will wait a year but i dont know if the window of opportunity will be open all the time he added
also dart said lieberman dougherty and levine are to be paid 26 mln dlrs to pay their taxes
the tanzanian government in its second annual budget since embarking on an economic recovery program inspired by the international monetary fund announced increases in fuel prices and sales tax and higher levies on government services
he said there could be no assurance that a joint venture would be formed or that caesars would agreed to talks
note shr results after preferred dividend payments of 954000 dlrs for current qtr and 3410000 dlrs for current year
the philippine long distance telephone co pldtmn is planning a two for one stock split and a 20 pct stock dividend later this year to reduce excess market buoyancy vice president sennen lazo told 
agrimont spa the holding company for montedisons agro industrial businesses had sales of 810 billion lire and a net profit of about 11 billion lire after amortization costs of 35 billion lire and a 13 billion lire reduction in the value of inventory due to falling market prices montedison said
uk industrial output rises in january
federal funds were trading at 6 3 4 pct at the time of the direct injection of temporary reserves in line with fridays 672 pct average
the liquidity is the reason for the recent boom of stock exchange prices the bank official said
and he said new printing technologies make new editions a profitable business
growth prospects in northern areas are generally in the good to very good range
a target date of mid september has been set for the signing of a package rescheduling nigerias medium term public sector debt and outstanding letter of credit claims nigeria and barclays bank plc said in a joint statement
but he added it was hard to make a case for conrac being worth much more than the 29 dlrs where the shares traded today
in connection with the agreement the company said it sold 666667 shares at 75 cts a share
but it was being praised today by political analysts as a shrewd move which while advancing towards that aim could not be seized upon by opposition parties as overtly trying to bribe the electorate
foster wheeler corp fwc said an audit of its stearns airport equiment co inc unit revealed substantial discrepancies in stearns accounts that may require material adjustments to previously announce consolidated results of the company and its subsidiaries
tranche a which matures january 9 1993 is payable april 9 this year
the stock rose four points to 189
whim creek will hold 44 pct of the consortium while austwhim resources nl will hold 27 pct and croesus mining nl 29 pct it said in a statement
the sources said rubaishi had not been expected to hold the post permanently
this kind of deterioration in trade relations between two countries which are major trading partners of ours is a very serious matter button said
massachusetts financial services co said it has set the final income and capital gain distributions for trust for thrift institutions high yield series of 1069 dlrs and 7645 dlrs respectively payable today
both offers would pay shareholders a package of securities for the balance of their shares valued at the respective tender offer prices
proposed offerings recently filed with the sec
us defense secretary caspar weinberger told a pentagon news conference the destroyers kidd young leftwich and hoel fired about 1000 rounds of five inch shells at irans rostam oil rig 120 miles east of bahrain beginning at about 1400 gulf time 0700 edt on monday
the program is scheduled to expire april 30
the smoothed series adjusted to iron out random fluctuations shows a widening surplus on merchandise trade to 46 mln from a surplus of 33 mln revised from 43 mln dlrs in december and a 71 mln deficit in the a year ago period
belgiums current account surplus measured on a cash basis widened sharply to 1349 billion francs last year from 175 billion in 1985 the finance ministry said
although liabilities on other existing fields will be reduced immediately liabilities on larger new fields will rise in the future due to the loss of offsets it said
we think an upturn in us drilling is imminent said james crandall an analyst with salomon brothers inc
but the bundesbank and other european central banks were not detected in the open market during the european morning
smh issues 100 mln swiss franc bond with warrants
it has an upper limit of 250000 tonnes
ubs the us unit of union bank of switzerland won the issue in competitive bidding against syndicates led by such major us houses as first boston and morgan stanley
lawson confirmed that over the medium and longer term the governments objective is zero inflation he said the governments intention of its psbr constant at 10 pct of gdp is the modern equivalent of the balanced budget doctrine he added that to allow the debt gdp ratio to remain constant on anything other than zero inflation basis is simply a recipe for accelerating inflation
bank of japan governor satoshi sumita had previously expressed concern about excessive investment in land and securities resulting partly from eased credit conditions
police sources say the embezzlement charges relate to loans given by the bank to the southern italian based food processing firm jonicagrumi
anitec image technology corp antc 2nd qtr net
qtly div 10 cts vs 10 cts prior payable may one record april 15
the variable money market cds provide a low cost dependable source of funds for issuing japanese banks said robert shapiro executive vice president with shearson lehman commercial paper inc
the explosion and fire in which one worker was killed caused extensive damage to the central part of the 32000 hydrocracker and the spokesman said today this unit would be out of operation for several months
bankers attending the inter american development bank annual meeting here said the two sides are still working on a plan that embraces manilas proposal to pay interest partly with philippine investment notes pin instead of cash
world bank vice president david knox said the bank was eager to finance argentine plans to stimulate growth and that he was urging private banks to grant new loans to the country
tigrel acknowledged a need to cut inflation further after a drop of more than 12 points to 246 pct in the treasury wholesale index last year
total gold and currency reserves rose 173 mln guilders to 564 billion guilders
crazy eddie inc says it wont oppose slate of entertainment marketing
machinea said argentina had world bank support
not only workers but also businessmen are restive
agriculture secretary carlos dominguez has also raised objections to the proposed ec tax
al zubedei is also a presidential adviser
deak buys johnson matthey commodities
the fed injected temporary reserves directly and indirectly on four of the five trading days via system and customer repurchase agreements
the m 4 money supply measured as liquid assets in public hands rose 167 pct last month against 81 pct in january and compared with this years eight pct target
last week three exchanges currently trading on the baltic exchange the london potato futures association the gafta soya bean meal futures association and the london meat futures exchange instructed legal advisers to implement a merger
earlier this week british prime minister margaret thatcher said britain could not go it alone on sanctions against japan but would have to coordinate action with its european community partners
names may include sanyo electric co ltd and nishimatsu construction co ltd which both count yamaichi securities co ltd as their house bank or hokkaido electric power co inc which recently gave a presentation here with the industrial bank of japans unit here
its 1986 and 1985 earnings were based on 15 mln shares outstanding
the orenda division maintained a high level of activity in aircraft engine repair and overhaul and in the manufacture of engine components
argentina was granted a 19 year repayment at 13 16 points over eurodollar rates the same historically low spread that mexico won last october while the philippines which had insisted on a deal similar to mexicos restructured 103 billion dlrs of its 282 billion dlr foreign debt at 7 8
concerning dome petroleums 42 pct stake in encor energy corp ltd annesley said encor is a strategic investment for dome and we have no intention of selling it dome spokesman annesley said in answer to a question that he was not aware of any negotiations now under way toward the sale of dome petroleums 209 mln dome mines shares
perkin elmer corp said it acquired atomika technische physik based in munich west germany a high technology concern specializing in surface science instruments
cathay pacific airways ltd caphhk forecast another good year in 1987 in view of good growth in both passenger and cargo traffic volumes early this year over the year earlier period
as a result of the split the number of outstanding shares will increase to 28 mln from 14 mln the company said
he also told the newspaper he saw no need for large scale intervention in the foreign exchange market because exchange rates are stable
the islamic development bank idb and 20 islamic banks signed an agreement to establish a 50 mln dlr trade portfolio to finance trade among islamic countries idb sources said
large scale measures are planned to save resources he said
city resources is controlled by city resources ltd of australia
the company said it was studying financially superior alternatives
in addition there are four mln restricted shares outstanding
overland express inc said it negotiated a restated debt moratorium agreement with its principal secured lender banks
shr primary 54 cts vs 41 cts shr diluted 51 cts vs 38 cts net 9098000 vs 5924000 revs 1117 mln vs 850 mln avg shrs primary 16889254 vs 14500737
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
m
the bank said the reduction reflected the recent downturn in money market rates the improved economic outlook and adequate liquidity in the second quarter tax rundown period
bankers estimate the economy measured in terms of gross domestic product gdp shrank 19 pct in real terms last year after contracting 81 pct the year before
last week he said the auction had run into trouble because of a shortage of foreign exchange
he said bank deregulation had given managers more freedom to run their banks and that an increase in failures was to be expected
the seamen said they were spurred to their decision after marines occupied the ship docemarte in santos harbour tuesday night
the cartagena group has called for the debt trade link to be recognized before but has not made detailed proposals
another streamlining idea is to allow small banks to escape by swapping their loans for exit bonds that a debtor would issue at a discount
in addition the company said its bank irving bank corp v agreed to waive a one mln dlr counter guarantee for the bank to provide a 26 mln dlrs guarantee for regencys federal maritime commission bond
gencorp gy bidder plans sale of aerospace unit
the meeting here is due to end tomorrow evening
shr four cts vs two cts net 406659 vs 210575 revs 6028263 vs 3654810 nine mths shr 11 cts vs seven cts net 1151988 vs 576358 revs 169 mln vs 9684002 avg shrs 109 mln vs 8632800
the boards of both companies have approved the merger which will be accomplished through a tender offer by a boeing subsidiary of 37 dlrs a share cash for all of argosystems shares the companies said
the economy is ready for about a 20 pct rate of growth over the course of 1987 said carl beigie chief economist at dominion securities pitfield ltd
fnma sets 720 765 pct coupons par 99875 prices on 15 billion dlr offer
but the senior official played down those expectations
yergin said that the poll which was conducted in january by a former congressman orval hansen showed support for the oil import fee from 22 pct of the congressmen surveyed largely as a means of protecting the domestic petroleum industry
international biotechnologies ibio 4th qtr
if it is approved the new rates could go into effect as early as this summer
tin pact special session this week routine
asked at a news conference whether central banks were prepared to intervene to defend currencies he said we cannot rule out the use of any instrument which leads to foreign currency stability however he added that in the end it was market forces which prevailed
but europe and asia were potential trouble spots and kuwait was one of the most obvious targets
aaas rescheduling has been followed in the last few days by a draft accord on the 13 billion riyal debt of one of the kingdoms most publicised companies saudi research and development corp redec
the software if being offered for a one time setup charge of 1000 dlrs
the ec commission is to ask member states to agree either a tender system to fix reduced import levies for the maize or to authorise direct imports by the spanish intervention board
coffee quotas were suspended in february last year when prices shot up on fears of a drought induced crop disaster in brazil
the offer is for a minimum five mln common shares and a maximum six mln shares the company said
the bill also extended the urban development grant program the national flood insurance act the rural housing program as well as several other housing programs
national convenience said its third quarter is usually weak due to winter weather
sankei building issues equity warrant eurobond
qtly div 18 cts vs 18 cts prior pay april 30 record march 26
from the third year the bonds will pay interest at a rate of four pct over six month london interbank borrowed rate libor they will be issued in denominations of 50000 dlrs and will be listed in luxembourg
however a successful auction could prove to be a turning point depending on prevailing market psychology
a and w brands inc said it completed the acquisition of vernors inc from united brands co ub in a cash and stock transaction worth valued at about 10 mln dlrs
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
arkansas best corp abz declares qtly dividend
the products should be available in canada in three to four months the company added
the broken hill pty co ltd brkns said it expects a strong full year result helped by sigificant investment allowance credits in the fourth quarter but net will fall short of the record 9882 mln dlrs earned in 1985 86 ended may 31
the japanese firm bid the notes at 98473 and set a coupon of 7 1 2 pct and reoffering price of 9875 to yield 46 basis points more than comparable treasury securities
an unspecified amount of internally generated funds would also be used for the stock purchases it added
laidlaw transportation ltd ldmfo third qtr
shr 22 cts vs six cts net 819000 vs 201000 revs 93 mln vs 77 mln year shr 40 cts vs 20 cts net 15 mln vs 728000 revs 315 mln vs 266 mln
uk feb cuurent account surplus 376 mln stg vs jan surplus 73 mln official
charles stenholm r tex to narrow the bill to 1987 wheat only but whether he would also back a further reduction is unclear
the us agriculture department detailed world supply demand data for major importers and exporters of corn by country as follows in mln tonnes ussr corn 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stocks na na na na production 1250 1250 1440 1440 imports 800 600 1040 1040 domes use 2050 1950 2440 2440 exports nil nil nil nil end stocks na na na na na not available
us warns iran begins escorting tanker convoy
the full ico council is due to meet this evening
colt industries cot to sell british unit
texacos filing had little if any effect on junk bond prices this morning
note the company which is the french subsidiary of exxon corp
oper shr loss 64 cts vs profit 11 cts oper net loss 7229000 vs profit 902000 revs 676 mln vs 667 mln avg shrs 113 mln vs 8507000 year oper shr loss 63 cts vs profit 43 cts oper net loss 6177000 vs profit 3604000 revs 2648 mln vs 2385 mln avg shrs 9827000 vs 8403000 note 1986 quarter net includes 731000 dlr tax credit
the rigs wont go back to work until the price of oil gets above 30 dlrs a barrel said pickens 58 adding he did not expect to see the rig count top 2000 again in his lifetime
mfs managed muncipal trust bond said it declared a monthly payout income distribution of 57 cts a share compared with 56 cts for the previous month
us non farm payroll employment rose 337000 in february twice what the financial markets expected
nat west cuts mortgage rate for new borrowers
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
the high and low plains accounted for 60 pct of the 25 mln bales produced in texas last year stillmann said
french institute pessimistic on 1987 growth
the ec commission rejected all bids for free market bread making and feed wheat and all bids for the special west german tender at todays weekly ec cereals tender trade sources said here
but he warned that his conciliatory message on the trade bill did not mean he would oppose a proposal that would warn other countries their access to the american market would be curtailed unless they opened their markets to us goods
lord young the employment minister said there appeared little doubt the monthly fall which has been running at about 20000 will continue
the us feeder steer price or usfsp as posted by the cme is calculated by cattle fax and represents the price used for cash settlement of the cme feeder cattle contract
us officials emphasize some 85 billion dlrs has been paid out in the first 14 months of the plan payments of over 70 billion dlrs of debt has been stretched out into the future and washington is embracing new and innovative ideas to keep debtor creditor negotiations afloat
panic also said he intends to seek board approval today to repurchase up to three mln icn common shares
ecuador is due to resume limited crude oil output on may 8 when a new 43 km pipeline to neighbouring colombia should be finished an energy ministry spokesman said
att now faces a period of comment in which a number of companies will be able to respond to the proposals in fcc hearings
sergey frolov chief economist at amtorg trading corp an agent for soviet trade organisations and industries told a us ussr business meeting the soviet union produces few items that western nations want
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
oii said it has assumed owens 3 3 4 pct sinking fund debentures due june 1 1988 935 pct sinking fund debentures due november 1 1999 and 7 5 8 pct debentures due april 1 2001
no conclusions were contained in the minutes
between december 1985 and november 1986 the united states imported the equivalent of 546 mln gallons of brazilian orange juice worth 622 mln dlrs he said
this compares with a target of 147 mln and last years yield of 140 mln
he said yugoslavia had always paid its debts and would continue to do so but he said creditors and international institutions should show more understanding for yugoslavias situation
farm and food trade showed a two billion franc surplus after a surplus of 24 billion in january
gordon jewelry corp gor 4th qtr aug 31 loss
a group of affiliated new york investment firms said they lowered their stake in cyclops corp to 260500 shares or 64 pct of the total outstanding common stock from 370500 shares or 92 pct
shr 14 cts vs 15 cts net 867000 vs 956000 revs 9203000 vs 5304000 six mths shr 18 cts vs 34 cts net 1111000 vs 1747000 revs 167 mln vs 104 mln note 1987 2nd qtr and six mths net includes 279000 dlrs and 432000 dlrs for tax credits
the caisse said it acquired 825 mln of new government of quebec bonds and 342 mln dlrs of new securities from other quebec government issuers during the year
he said a credit agreement for 100 mln marks will be signed this week with the german state bank kreditanstalt fur wiederaufbau kfw to finance an expansion of the state aluminum company venalum
the company said its sut charges that langley missapropriated material non public information acquired in his capacity as a calmat director and used the information for the benefit of industrial equity
but it said continued disagreement with the sec staff would not be in its best interest
ivory coast boosts maize output
shr loss 16 cts vs profit 23 cts net loss 97600 vs profit 91980 revs 302745 vs 359699 avg shrs 621036 vs 388536 year shr profit seven cts vs profit 36 cts net profit 36400 vs profit 140980 revs 1610286 vs 763071 avg shrs 512235 vs 388536 note year ago net includes extraordinary gains of 33654 for qtr and 42654 for the year
they will also provide equal shares in 63 billion yen in new investment in the albras amazon aluminium project in brazil in addition to the 457 billion yen already invested
rjr nabisco inc said it will redeem all 12 billion dlrs of its 1120 pct notes due august 1 1997 on april six using the proceeds from the sale of its heublein inc subsidiary to grand metropolitan plc
s and p said it is making a rating distinction between secured and unsecured debt because of the significant amount of secured in holidays capital structure
republicbank with total assets of about 21 billion dlrs announced in december an agreement with interfirst corp ifc to form first republicbank corp
some said bakers remarks and us trade representative clayton yeutters warning that the us and japan were on the verge of a serious trade conflict showed there was a rift
colombias coffee marketing to be more flexible
national sanitary supply co nssxo 3rd qtr
the widespread belief that new zealands problems are going to take much longer to solve than was originally thought is soundly based primarily because the governments macro economic policies have been unsuccessful bayliss said
justin industries inc jstn sets dividend
income in the first three months fell to 2860 mln dlrs from 3043 mln in the same 1986 period
japan imports some 12 mln tonnes of lpg a year of which 53 mln tonnes are supplied by saudi arabia 33 mln under term contracts and two mln through spot purchases
marcade group inc said it has agreed in principle to acquire a prominent privately held maker of ladies sports wear for an cash shares and options to purchase marcade common valued at about 20 mln dlrs
chartered bank net foreign currency assets fell 23 mln dlrs to minus 192 billion dlrs
of last years loans 226 billion dlrs was actually disbursed bringing total disbursements to 2403 billion dlrs
caesars stock opened up 1 8 point at 28 1 8
on wednesday sosnoff told the securities and exchange commission that he controls 136 pct of the companys stock
it said the bilzerian proposal calls for shareholders to receive on a blended basis 1667 dlrs in cash and 330 dlrs in liquidation value of cumulative exchangeable redeemable preferred stock for each common share
customs figures show that china imported 773 mln tonnes of grain in 1986 up from 597 mln in 1985 but down from a record 1615 mln in 1982
the bank of england said it provided the money market with a further 195 mln stg assistance during the afternoon
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
in the mediterranean prices firm in lavera as algerian supplies were not always available
taiwan likely to buy more us soybeans
but their discussion should make clear that neither has a chance of surviving when it comes up for substantive consideration by ec farm ministers later this month they added
uk money market given 90 mln stg early help
continental said the notes will carry a dividend rate of 72 pct of prime and it expects that the shares will trade at 1275 dlrs or more enabling shareholders who wish to receive cash to do so
shr loss 76 cts vs profit 50 cts net loss 19186000 vs profit 12438000 sales 1579 mln vs 1492 mln note fiscal 1987 net loss includes a pretax charge of 195 mln dlrs from restructuring and an after tax charge of about seven mln dlrs from debt prepayment premiums
heller said the effects of these actions would be banks that are at least as strong as the corporations holding them in which customer deposits were assured while any incentive to loot the bank was removed
he said in the case of brazil write offs of loans is a worst case outcome which is highly unlikely
the psd administration was the 16th formed since the 1974 revolution
nz ports reopen but further closures possible
the buffer stock may begin buying shortly as the icco 10 day average indicator price is now at 157803 special drawing rights sdr per tonne below the 1600 must buy level
sheikh ali also delivered a challenge to any international oil company that declared kuwait sold below official prices because it was charging its official price of 1667 dlrs a barrel it had lost custom he said but did not elaborate
central bank governor chang chi cheng told reporters the reserves totalled about 69 billion us dlrs compared with about 42 billion at the same time last year and 68 billion on october 5
small businesses may account for vat annually instead of quarterly
the company said it will assume about 10 mln dlrs of fox liabilities with a provision for a further 65 mln dlrs based on the future financial performance of fox during the one year period following the closing of the deal
the payment date is april 2 1987
commerce secretary malcolm baldrige said after the release of a sharply lower january leading indicator index that a pickup in exports is needed
qtly div two cts vs two cts prior pay may 15 record march 31 note full name saxon oil development partners lp
kaputin did not say when the corporation would be established or exactly what form it would take but said the government would study whether it should be directly involved in exploration or development
preliminary trade figures for february show an excess of exports over imports of 1191 mln nz dlrs a statistics department statement said
calvet said our hope is that once the ax is fully developed we will have between 65 and seven per cent of the national market
chirac says france resolved to support currency pact
the february figure marked a year on year rise of 1845 pct
but world group incoming orders fell 22 pct to 5873 mln marks meinhardt told the annual news conference
taft tfb given deadline on buyout proposal
a purolator official said the company has no comment on the letter from gardner
us maize area is expected lower but oat sowings could rise
sheikh ali al khalifa al sabah was quoted by the local daily al qabas as saying none of the opec members has asked for such a meeting he denied kuwait was pumping above its quota of 948000 barrels of crude daily bpd set under self imposed production limits of the 13 nation organisation
was 13288 billion pesos at the end of december 1985
i am convinced that israel exports to the us can reach five billion dlrs in the next five years if we learn to function in the american marketplace and place greater emphasis on product quality yaacobi said
officials said grain imports rose in 1986 because of a poor harvest and rising domestic demand but remained below exports which rose to 942 mln tonnes from 933 mln in 1985
national city bancorp ncbmo 1st qtr net
corporate bond traders noted that chryslers sale occurred against the backdrop of a slightly weak secondary market
it will also receive 25 mln dlrs from beneficial international insurance co another beneficial subsidiary being purchased by the management led group of first delaware the company said
dotronix inc dotxo to buy video monitors 
fisher foods inc said american financial corp has sold its 1500000 fishers shares a 44 pct interest to a group consisting of american seaway foods inc rini supermarkets inc and rego supermarkets inc the company said in connection with the transaction all five american financial representatives have resigned from its board
shr profit nil vs loss 61 cts net profit 3000 vs loss 1148000 revs 184 mln vs 178 mln year shr loss 94 cts vs loss 28 cts net loss 1762000 vs loss 524000 revs 585 mln vs 673 mln note 1986 net includes extraordinary gain of 569000 dlrs or 30 cts per share
saudi arabia is the architect of the current pricing and production pact which is backed by kuwait and the uae
union camp corp ucc 3rd qtr sept 30
a ministry official said it verified through sampling that reflow was fairly small
alcan aluminium ltd said it joined with carrozzeria bertone spa to exhibit alcans technology in aluminum structured vehicles at genevas international auto salon
stora close to completing papyrus takeover
the communique said the ministers and governors reaffirmed the commitment to the cooperative approach agreed at the recent paris meeting
morgan guaranty ltd is the arranger
was 13288 billion pesos at the end of december 1985
becor western bcw talks to fourth bidder
if no such steps are taken protectionist sentiment in the us congress will grow putting greater downward pressure on the dollar they said
san diego gas sdo sees decision hurting net
montedison spa monimi said it has concluded its negotiations with spanish pharmaceuticals company antibioticos sa a company spokesman told we have concluded the talks and we are now awaiting authorization from spanish authorities he declined to comment further
sumitomo trust sells cd notes at 728 pct
abm gold corp initial public offering of six mln shares of class a common stock at an estimated seven to nine dlrs each through painewebber inc and advest inc
the bank rarely invites applications for ordinary assistance on a saturday and the sources said it was more likely to open its special borrowing facility again
in canada the rig count was up by two to 183 against 324 one year ago
csr ltd csras and exxon corp xon unit esso exploration and production australia inc said csr has agreed to sell its delhi australia fund daf to esso for 985 mln australian dlrs
robert stevenson k mart vice president told the talks which began about six weeks ago ended
canbra said it set the special payout to allow shareholders to participate in the gain on the sale of unit stafford foods ltd in november 1986 as well as the companys unusually profitable performance in 1986
those buying 100000 to 250000 dlrs pay 9960 for a yield of 752 pct or 53 basis points over treasuries
the debentures will be listed in london and the fees for the deal total 2 1 4 pct
onic raised its estimate of 1986 87 flour exports to 170 mln tonnes compared 165 mln forecast in march and the 187 mln exported in 1985 86
the trave ore proceeded by its own means to hamburg
the mmtcs recent countertrade deals include iron ore exports to yugoslavia for steel structures and rails
by 1228 gmt norcros shares were quoted at 418p up from 397p at yesterdays close
texaco offered to put up one billion dlrs in a letter of credit and agreed not to let the value of its assets fall under 111 billion dlrs he added
jones said the federal open market committee at todays meeting voted no change in fed policy
corn and sorghum producers who requested advance deficiency payments have already received about 28 billion dlrs and 225 mln dlrs respectively usda said
the company said chief executive officer leon ruchlamer has supplemented the planned funding with 300000 dlrs
he estimates blocks fiscal 1987 earnings at 275 to 280 dlrs
gulf 316 portland seattle 307 308 310 370 stockton 278 la 323 405 duluth 265 271 370 tex
we didnt find anything so we stopped doing it a us embassy spokesman said
china adds cancels wheat commitments usda
it said the debentures which are for settlement april 10 will be priced next tuesday and the offering will take place april 1
shr 10 cts vs 11 cts net 255000 vs 242000 sales 7166000 vs 6486000 avg shrs 2438000 vs 2118000 year shr 50 cts vs 40 cts net 990000 vs 849000 sales 290 mln vs 228 mln avg shrs 1972000 vs 2118000 note share adjusted for five for four stock split declared today
i think the merger is not going through said phil pace analyst at kidder peabody and co
the issues are designed to help curb the growth of the m 1b money supply which has expanded along with taiwans foreign exchange reserves the spokesman said
31 1988 they would offer to buy any and all remaining shares
morgan said although profits in the electronics sector improved to 10 mln stg from 100000 stg previously results were nonetheless disappointing
davis said the offer which is subject to approval by the new zealand overseas investment commission was a response to the integration of the two countries markets under the australia new zealand closer economic relations treaty
first interstate bancorp said it has filed a shelf registration with the securities and exchange commission for up to 150 billion dlrs principal amount of its debt securities
the united states will be represented at the meeting by former agriculture undersecretary daniel amstutz recently appointed special us negotiator on agriculture
japans lipc to buy beef on april 23
the plan outlined by us treasury secretary james baker 18 months ago stalled because commercial banks balked at the idea of lending additional money ongpin said
chemical new york corp 1st qtr shr 158 dlrs vs 193 dlrs
nine mths 1987 included write off of fslic secondary reserve of 227 mln
foreign trade in the same period fell 36 pct from the 1986 period as exports fell by 05 pct and imports dropped by 42 pct
transcanada pipelines ltd trp yesterday bid 430 billion dlrs for dome but dome said it was discontinuing talks with transcanada and was considering a proposal from another company and was also talking with another possible buyer both rumored to be offshore
comalco says lower costs help return to profits
thus if the buffer stock manager was buying cocoa based on a malaysian price of 1200 stg a tonne he would accept ghana offers up to 1337 stg
nass said it will discontinue california forecasts for lemons during december february march may and june and for grapefruit and tangerines for those months plus november
y dlrs per cwt 100 lbs
montedison unit issues 50 mln australian dlr bond
theyll temper it said judy weissman fcoj analyst with shearson lehman bros
the company said 1986 dividend which will be paid to the dutch state in its capacity of the firms sole shareholder would be raised to 98 mln guilders from 70 mln guilders in 1985
widespread lowland and small stream flooding is expected to continue over most of eastern nebraska through wednesday
china buys malaysian rbd palm stearine
dixons group plc said shareholders at a special meeting of cyclops corp approved the previously announced merger of cyclops with dixons
shr 137 dlrs vs 118 dlrs net 624 mln vs 537 mln sales 832 billion vs 588 billion note prior year does not include results of rca corp
shr profit nil vs loss nil net profit 68895 vs loss 160893 revs 33 mln vs 104801
shr loss five cts vs loss six cts net loss 473784 vs loss 489257 revs 2688 mln vs 817 mln avg shrs 9245247 vs 8035326 year shr loss 17 cts vs loss 20 cts net 1512534 vs loss 1553592 revs 1448310 vs 515225 avg shrs 8745132 vs 7619863
it expects work will commence shortly and continue during the 1987 exploration season
credit commercial de france splits shares
the monetary authority of singapore mas which approved the five underwriters aims to issue seven billion dlrs of treasury bills notes and bond issues in the first year
baldrige will also stop in hong kong to meet british officials and local us and hong kong businessmen
the treasurys operating cash balance totaled 18845 billion dlrs on march 23 compared with 20318 billion dlrs on march 20
dominion textile calls report of bid for burlington rumor
ive seen people making comments on that and i dont know how they know unless they talk to the soviets he said
as a result the company retroactively charged all past exploration and related administration costs incurred on its properties against expenses in 1986 1985 and 1984
syria has bought around 320000 tonnes of soft french wheat since the beginning of the 1986 87 campaign of which only 121000 tonnes had been exported by the end of last month
corrected major swiss banks raise customer time deposit rates 1 4 point to 3 1 4 pct credit suisse
africa where beer consumption averages only nine liters per head per year and sales are limited by import restrictions and currency risks nonetheless accounted for 65 pct of total 1986 sales
the selling concession is 1 1 2 pct while management and underwriting each pay 1 2 pct
jewelmasters said net income for the year was hurt by disappointing sales in december and january a high level of advertising spending in the fourth quarter higher than expected opening expenses for 34 additional units and an adjustment to inventory associated with a shift to a more comprehensive inventory system
they fell by 26 pct in the year to february 1986
asked by reporters if dome should remain in canadian hands blair replied yes
bringing the franc close to the mark would of course have to be done step by step under the watchful eye of monetary policy he told shareholders
lai sun gained 50 cents to 7050 dlrs
swift independent packing co said it agreed in principle to sell its huron south dakota pork plant to huron dressed beef for undisclosed terms
the prices were set at 44 dlrs a tonne for neryungrinsky coal and at 4380 dlrs for kuznetsky coal fob
we dont think that individuals or institutions buy our shares because we were one of the dow jones industrials spokesman ken cherney said in reply to a query
the kwacha stood at 22 per dollar when the auction system was first introduced in october 1985 but it slid to around 15 per dollar by the time it was suspended 16 months later
kidder unit sells cmos including floaters
the agency said the dry weather had reduced the amount of water stored by more than 20 pct compared with last march lowered the water level of many rivers reduced hydroelectric power supplies and caused water shortages for industry and consumers
1986 net both periods includes gain 1887000 dlrs from pension plan termination
but these companies are not unwitting victims of the take or pay dispute between transco and producers he said
unocal ucl scraps fluidized bed boiler project
common stock traded as high as 2500 dlrs in 1981
it said it declared a dividend on its outstanding common stock of stock purchase rights which have a term of 10 years and will be issued april 10 to holders of record april 10
a group of affiliated miami based investment firms led by fundamental management corp said it raised its stake in robeson industries corp to 238000 shares or 146 pct of the total from 205000 or 128 pct
new jersey resources corp said it filed with the securities and exchange commission to offer 13 mln common shares through managing underwriters merrill lynch capital markets and ef hutton and co
shr 10 cts vs 13 cts net 1553000 vs 1541000 revs 731 mln vs 321 mln avg shrs 15474000 vs 12316000 year shr 47 cts vs 24 cts net 7241000 vs 2835000 revs 2162 mln vs 1012 mln avg shrs 15492000 vs 11921000 note net income includes extraordinary profit from recognition of tax loss carryforward of 920000 dlrs or six cts a share in 1986 year and of 785000 dlrs or seven cts a share in both 1985 periods
desptp omc dso 1st qtr net
however hot dry weather during the past 20 to 30 days followed by an unseasonably brief cold spell during the second week of march has raised concern about late planted soybeans which are still immature but the impact may be localized the report said
goodyear gt unit to start up pipeline
in the australian dollar sector gmac australia finance ltd issued a 50 mln australian dlr bond
centerior energy corp cx redeeming bonds
data general dgn debt downgraded by s p
after that its a question of absorbing and juggling around
ec sugar tender hard to predict london trade
guatemala to host other milds coffee meeting
first federal ffbn merging into bankeast benh 
us treasurys baker opposes tax increase
shr profit 118 dlrs vs profit 115 dlrs net profit 2192 mln vs profit 2115 mln nine mths shr loss 84 cts vs profit 372 dlrs net loss 1408 mln vs profit 6824 mln assets 7969 billion vs 7199 billion loans 3393 billion vs 3533 billion deposits 4568 billion vs 4122 billion note 1987 nine mths include previously reported 875 mln dlr addition to loan loss reserve in 2nd qtr for ldc debts
but there was no reason to expect australian production in 1987 88 would be less than the 165 mln tonnes of last year the private forecaster said as crops in new south wales and queensland suffered from poor yields last season
quebec caisse earns three billion dlrs in 1986
the company said the merger will be accounted for as a corporate reorganization and be recorded at historical book values
if it had it would have missed its reserve projections added security pacifics bannon
last year the company earned 53 cts per share in the third quarter
private investor theodore cross last week offered 34 dlrs a share for harper and row prompting a rival bid of 50 dlrs a share from another publishing firm harcourt brace jovanovich inc hbj after considering the two offers at a meeting on friday the harper and row board decided not to act on them
the federal reserve entered the us government securities market to arrange two billion dlrs of customer repurchase agreements a spokeswoman said
malaysian traders said they expected prices to firm by a few cents on the news that a pact is expected to be adopted
the acquisition will take place through a voluntary conversion of lincoln to a federally chartered stock savings bank from a mutual federal savings bank
i would hate to be producing today a light crude and that problem has not been dealt with properly
charles schwab announced the completion of the 280 mln dlr purchase from bankamerica co of charles schwab and co inc and its holding company charles schwab corp
narragansett capital inc narr said it and dudley s
the subcommittee limited the gephardt plan to provide only that the existence of a large trade surplus with the united states will trigger an investigation of unfair trade practices but would not automatically set off retaliation
the cabinets policy is steady the guilder has to stay with the mark he said
in order to boost investment in the petroleum industry the government of indonesia has basically approved of extending production sharing contracts under the present laws suharto said
ames department stores inc fell 1 7 8 to 23 in what analysts said was a reaction to a surprise announcement earlier today by the company that earnings in the fiscal year ended january 31 will decline sharply
geogia power also said its board has delayed the scheduled completion of vogtles unit two to june 1989 from september 1988
foreign currency holdings fell 728 billion francs to 12458 billion while ecu holdings fell by 555 billion francs to 5852 billion due to the repayment of part of frances debt owed to the fecom and stabilisation fund operations the ministry said
dealers noted mild short covering in the metal after some initial selling by local investors
singapore welcomes new lme aluminium contract move
the offer which has been approved by the holly board and is to be followed by a merger in which remaining shares are to be exchanged for cumulative redeemable exchangeable preferred stock is conditioned on receipt of at least 664400 shares which would give plum a two thirds interest and the receipt of financing
denominations are of 10000 and 100000 francs
toho mutual life is also the largest shareholder in nippon lace the company said
cpl real estate trust investment said its regular quarterly dividend distribution will be lower than its present 26 cts per share and could be significantly lower starting with the third quarter of 1987
according to consumer spokesman peter baron of west germany consumers werent perfectly happy with the buffer stock rules
in the comparable quarter a year ago utilicorp earned 85 mln dlrs or 87 cts on revenues of 203 mln dlrs
mack trucks mack debt affirmed by s p
the administration has not announced its support but yeutter said yesterday i am cautiously optimistic that the democratic led house will come up with an acceptable bill
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
standard federal sfb offers zero point loan
shr 10 cts vs 11 cts net 226000 vs 236000 sales 13 mln vs 15 mln year shr 38 cts vs 45 cts net 819000 vs 1001000 sales 58 mln vs 64 mln
last week ecuador suspended interest payments to private foreign banks which hold about two thirds of its total 83 billion dlr foreign debt citing severe damage to its oil industry caused by an earthquake
but he added regrettably too much of it was in one direction with the japanese selling us 37 billion sterling 58 billion dlrs more than we sold them
gatt also predicted world trade would grow by only 25 pct in 1987 a full percentage point lower than in each of the previous two years
the gas restrictions were enacted in 1978 in response to a shortage of natural gas and predictions of higher prices
south korea will pay about 20 pct more for ethylene imported from japan in the second quarter of the year because increased plastic production in both countries has boosted demand and tightened supplies chemical industry sources said
visual technology inc said a group led by hambrecht and quist group has acquired majority ownership of visual for 9250000 dlrs in equity financing
jc penney co inc said its board declared a two for one stock split and raised the quarterly dividend 12 cts per share on a presplit basis to 74 cts
most expect the prime lending rate at major banks to remain at 7 1 2 pct
we hope the producers and users of fructose will be actively involved those producers being the large processors the corn wet millers and the users being the beverage bottlers henderson said
speculation that darts offer of 4175 dlrs per share could be just the beginning of a bidding contest helped supermarkets shares gain one to 42 1 8 on 23 mln shares
shr 24 cts vs 26 cts net 959000 vs 1033000 assets 2736 mln vs 2363 mln deposits 1836 mln vs 1739 mln loans 1333 mln vs 1049 mln note full name of company is woburn five cents savings bank
strike threat lower traffic mar seaway opening
degroot who will remain a director of the company after giving up the post of chairman to one of seizers board nominees
but in 1985 86 the soviet union bought 299 mln tonnes of grain and turned to the us for only 24 pct of that total
moodys continues review of texas air tex unit
according to central bank forecasts inflation will reach an annual 10 pct rate versus up to 20000 pct in 1985
bankers say this makes comparison of profit figures difficult because some banks still book non accruing interest as revenue while others follow more conservative practices in force in major world financial centres
also the swing line provides for use of a spot issuance procedure which allows the company to borrow up to the full amount of the 50 mln dlrs on two days notice
westpac itself has agreed to be co lead manager of both tranches and two small syndicates are being formed morgan guaranty said
also foreign producers eroded browns assets by gaining market share
the uk government tomorrow will release the first of its retail price index rpi figures calculated on a revised group of components and rebased on january 1987 as previously announced the employment department said
officials of the federation of economic organisations keidanren said in a meeting with government officials the government should issue construction bonds as an emergency measure to prop up the economy
the facility to be used mostly for building a multi purpose dam and modernising educational and medical facilities and for sewer projects bears interest of 425 pct per year and is repayable over 18 years after a grace period of seven years
no question about it
provisional consolidated net attributable profit 2421 mln francs vs 2401 mln
bond corp holdings ltd bonas said it has agreed to acquire an 80 pct stake in merlin international petroleum corp from crowley maritime corp for 908 mln us dlrs
payment is due april 30
the pins proposal has been laid aside the discussion is now on pricing of just the cash payments he said
brazil is preparing a new economic strategy intended to protect domestic growth finance ministry sources said
new rubber pact to be formally adopted tomorrow
i see us poised at the threshold of a golden period said paul oreffice chairman of giant dow chemical co dow adding theres no major plant capacity being added around the world now
under federal and provincial government regulations expected to be in place by june 30 banks trust companies and foreign companies will be allowed to acquire existing investment dealers or establish their own securities subsidiaries
he said the trade imbalance was a serious trouble spot and strong protectionist pressures if translated into policies could ultimately lead to higher inflation and a high interest rate policy by the fed
the department said these falls were only partly offset by a rise in prices of home produced food manufacturing materials
zimbabwes grain marketing board has banned the packing of oilseeds in locally made polypropylene bags and will supply jute bags instead board officials said
the non callable bond is available in denominations of 1000 australian dlrs and will be listed in luxembourg
john lichtblau president of the petroleum industry research foundation inc in new york in recent testimony to congress said the continuing decline in us oil production is virtually inevitable under any realistic price scenario
the sec as a matter of policy routinely declines comment on its enforcement actions
but the two sides remained deadlocked
humana inc said its board approved a shareholder rights plan or so called poison pill plan to ensure its shareholders receive fair treatment in the event of a proposed takeover
us m 1 money supply rose 500 mln dlrs to a seasonally adjusted 7387 billion dlrs in the march 9 week the federal reserve said
the spokesman said the talks are the result of a change in ontario securities laws that takes effect june 30
baker refused to answer a question whether japan and germany had done enough to stimulate their domestic economies for the united states to support the dollar
m 2 rose 828 pct to 5871 billion in april after rising 647 pct to 5752 billion in march
the program offers a us dlr option whereby commercial paper in denominations of 100000 us dlrs will be issued subject to the same underwriting margin
japanese trading companies are looking to alternative sources to supply south koreas needs including saudi arabia qatar and mexico they said
southwest said the houston properties made up about 10 pct of its current value equity as of december 31 of 1420 dlrs per share down from 1668 dlrs a year before
american said pearson succeeds william lyon who has been elected to amrs board
the central bank said the lower surplus was mainly due to the decline in the value of exports and reexports to 372 billion dirhams from 542 billion in 1985
aside from the basic payment of 825 pct of nominal value certificate holders would receive an additional 15 pct
trade issues straining ecs patience with japan
it is primarily found in blacks
one indication of potential price pressure might be a further tendency for the dollar to weaken
a 300 mln mark 6 1 8 pct 1997 issue for nippon telegraph and telephone was also depressed but traded friday within fees at 9815 9850 from its par price
argentine vegetable oils shipments in jan nov 1986
the facility is only being syndicated among bps relationship banks and therefore has large individual commitments from the banks
traders said they expect nabisco will float more debt in the coming weeks to finance the redemption of the 1120 pct notes
galileo electro optics corp gaeo 2nd qtr
we should expand production of import substitutes and increase their proportion he said
as part of the agreement lsb said it also would transfer assets valued of not less than 30 mln dlrs to northwest federal which is located in woodward okla
ccc investment in loans inventories up usda
totally unadjusted figures show a deficit of 47 mln dlrs against 168 mln in january and 227 mln in february 1986
us bancorp usbco has acquisition approval
research cottrell closed at 44 1 4 today unchanged from the previous close
wang chao ming vice chairman of the governments council for economic planning and development told the rising reserves were a big headache for taiwan he said the government expects heavier pressure from the us where protectionist bills are being proposed against nations such as taiwan and japan with large trade surpluses with the us wang said the government would launch new measures within the next two months to further reduce import tariffs and open the market wider to foreign products especially those from the us wang said the measures aim at helping reduce taiwans trade surplus which rose to 273 billion us dlrs in the first two months of 1987 from 202 billion a year earlier
it said holders of record april 15 will receive one additional share may one for each two shares held
we have seen that the failure of the world trading system has caused great depression and conflict in the past
nynexs new york telephone files 500 mln dlr debt securities shelf registration
the cbot had planned to introduce night trading on april 2 but postponed the move to allow participants time to prepare
it also said the project hopes to aid in reducing the governments interest rate and credit subsidies
us to ask japan to drop beef restrictions
corby distilleries ltd 52 pct owned by allied lyons plc alldl subsidiary hiram walker goodman amp worts is to buy the spirits business of mcguinness distillers ltd of toronto for 45 mln canadian dlrs
the major market maker has traditionally been london based consortium bank saudi international bank but the kingdom joint venture saudi american bank samba also upgraded its london operation to deposit taker status in mid february
but a us official disputed the assessment that with darman gone baker would abandon international initiatives
azpurua spoke to reporters after meeting representatives of the kreditanstalt fur wiederaufbau kfw bank of germany who tommorrow will sign a agreement to grant 100 mln marks 549 mln us dlrs in credits to venalum
for the second quarter ended january 31 caesars world earned 126 mln dlrs on revenues of 1904 mln dlrs up from earnings of 7500000 dlrs and revenues of 1638 mln dlrs a year before
this takes the banks total help today to some 137 mln stg and compares with its latest forecast of a 150 mln stg shortage
echlin inc said it expects further earnings increases for the second half of fiscal 1987 ending in august due to unit sales growth and improved operations
cabinet chief bernard prauge will lead the french delegation
the 2500 tonnes of sugar offered to intervention in the netherlands has been refused by the intervention board because of wrong packaging a spokeswoman for the ministry of agriculture said
a department spokesman said the figures will probably be put back by about a month
offer for dome may short circuit its debt talks
non icco member cocoa can comprise up to 15 pct of the total buffer stock
investment bankers pointed out that because the bank of america deal did not pay principal for a year and a half the issue had a longer average life than some of the cars deals that were brought to market late last year
we the united states obviously with the surpluses we still have of many commodities would like to share in the import business the indians do and then we have some as we always do compassion for the people of india and would like to cooperate with them he said
hardly any sectors of the economy are proving immune to the current labour unrest caused by the return of high inflation officially pegged at 33 pct for january february
as a result of the brazilian action private banks and major debtor nations redoubled their efforts to reach agreements stretching out debt repayments
ecolab is a maker of commercial laundry detergent based in st
shr loss 12 cts vs profit 37 cts net loss 350738 vs profit 1095991 revs 188 mln vs 158 mln year shr profit 28 cts vs profit 129 dlrs net profit 831901 vs profit 3000716 revs 606 mln vs 482 mln avg shrs 2996903 vs 2756596 note per share date adjusted to reflect 10 pct stock dividend of march 1986
telex fell 11 to 34 1 4
in addition payments for the 1987 1989 period were lowered from 382 billion dlrs to 1350 billion dlrs
since then frn specialists noted that retail interest has been sparse or completely absent and the stagnant market for floating rate paper has become increasingly vulnerable to manipulation with nerves affecting all variety of borrowers
talks between management and unions at cargill uk ltds seaforth oilseed processing plant will resume monday a company spokesman said
the eiu said it saw oil prices dropping to around 1650 dlrs a barrel by end 1987 and 1550 dlrs in 1988 from about 18 dlrs last year as adherence to opec output policy becomes increasingly ragged
cargo preference is a costly special interest operated at the expense of american farmers and dockworkers lugar said in signing on as a co sponsor or cargo preference repeal legislation
and they mexico are a long way from seeing any money cross the table even as of today ongpin said adding he expected much quicker approval from all the philippines 483 creditor banks worldwide
we did not ask any country to do anything
the minutes showed that one member presumably melzer preferred a directive that did not contemplate any easing during the weeks ahead
it was up 1 8 today at 40 3 8 above the emery offer
it said sales for the division for the year ended january three were about 350 mln dlrs
miyazawa met with us treasury secretary james baker early in this afternoon and discussed the dollar yen exchange rates officials said but they declined to disclosed the details of that discussion
everest and jennings international eja 4th qtr
shr 27 cts vs 28 cts net 1026000 vs 1025000 sales 278 mln vs 254 mln year shr 95 cts vs 16 cts net 3682000 vs 598000 sales 1021 mln vs 1004 mln avg shrs 3858000 vs 3700000
asked whether a dollar yen rate of 148 or 149 reflected economic fundamentals he said current rates almost reflect fundamentals
schlesinger said he had no comment on the remarks of his two central bank council colleagues
in the first 10 months of fiscal 1986 national savings contribution to government funding totalled 272 billion stg compared with 201 billion stg in the same period of the previous year official figures show
goldman sachs and co bps investment advisor advised the shell oil board in 1984 and 1985
theres a deflationary force coming down the mountain and i dont know whos going to be rolled over de vries said
congressional sources said the areas where congress is most likely to eventually look for budget savings are some tightening of the payment limitation rules and possible adoption of a 0 92 program for the 1988 crops of major grains
prime minister brian mulroney said he held frank discussions with the canadian province premiers on the pace of free trade talks with the united states but the longstanding issue of provincial ratification remains to be settled
but the usda official said he saw no hold up in obtaining that approval
day intl day to sell unit
there has been a long running political debate about how long his mandate should be
dynalectron will operate the plan as dynair tech inc and is offering continued employment to about 460 former standard aero employees
tokyo traders said on friday they had little interest in buying rubber from the inro buffer stock because of possible poor quality
kern said the budget would have to be analysed carefully in particular to see how exactly lawson planned to achieve the sharper than expected borrowing target cut before a one point base rate cut could be implemented
however australias output is estimated to rise to 90 tonnes this year from 735 tonnes in 1986
but the report hold out little hope for swift improvement in the economic outlook
x includes imports
although meteorologists are cautious about linking the asia pacific regions disrupted weather patterns to any single cause el ninos role is being closely studied they said
donald trump to buy crosby resorts rtb stock
interest on the notes is due today
the loans have been made through the international development association ida the banks concessionary lending arm and the african facility a three year ida administered fund that supports economic policy reforms in sub saharan africa the bank said
chryslers zuckerman said his company sold the corporate issues to four large wall street securities firms
may 750 south down 11
no reason was given for the recent purchases
ecuador is seeking between 437 and 450 mln dlrs in loans this year from multilateral organisations and foreign governments to grapple with economic losses from a devastating earthquake 13 days ago a presidential economic adviser said
the usda official also said that only those counties that use the gulf to price grain are being currently affected by the high barge freight tariffs and increased gulf prices
total fees of 2 1 2 pct include one pct for management and underwriting and 1 1 2 pct for selling including an 20 basis point praecipuum
pesch said he held discussions with wedge about joining his takeover effort in which he is offering 17 dlrs cash four dlrs in preferred stock and one dlr in common stock for each american medical share
gross revenues from the first six projects are expected to exceed 500 mln dlrs over their life cycle york said with revenue and income expected to start flowing in 1988
papandreou told the us and nato that if they had a part in orchestrating the present crisis in order to force greece to negotiate with turkey the greek government would not accept it
reph acquisition co said its board appointed a special committee to negotiate the terms of an offer made earlier today by pesch and co to merge with its republic health corp reph unit
but in areas where the reform would take place there would be tough neotiations on how much you do and in what order should it take place he added
altos computer systems altoo 1st qtr net
the prime 1 commercial paper of dana and its credit unit are also under review for possible downgrade
underwriting fee is 1 8 pct
qtly div 24 cts vs 24 cts prior pay may eight record april 17
avaq international to seek commitment on deal
china imported 69952 tonnes of thai sheet rubber last year and 60296 tonnes in 1985
management bought the other 50 pct
bank of japan governor satoshi sumita said he does not expect the dollar to remain unstable and fall further
both sides in the imf debate say the course they favour will enable brazil to avoid recession
although prices are now considerably lower consumers and producers have been unable to agree on re introduction
groupement pour le financement des ouvrages de batiment travaux publics et activites annexes gobtp plans to launch two variable rate domestic bonds totalling 700 mln francs lead managers credit commercial de france ccf and caisse centrale des banques populaires ccbp said
koreans to buy 18 billion dlrs in us goods
uk one billion stg tranche of 8 3 4 pct treasury bonds due 1997 exhausted dealers
the bank of england said it had revised its estimate of the shortage in the money market today up to 115 billion stg before taking account of its early operations
it said the agreements are subject to regulatory approval
senate committee may look at fuel tax proposals
the us government also feels it has a good case to fight the proposed tax in the general agreement on tariffs and trade gatt a us embassy spokesman said
reichhold said the adoption is not a response to any specific takeover attempt
such expectations are now ingrained which was partly the fault of nakasone who heralded maekawas report as a sea of change in japanese affairs said us officials
the buyout was surrounded by controversy since a purolator board member doresy gardner resigned in march
qtly dividend 28 cts vs 28 cts pay april 24 record april 10
consolidated norex resources ltd said it agreed to acquire all issued and outstanding shares of triweb resources ltd a privately held oil and gas company with land holdings and production base in alberta and saskatchewan
hall said this is a new definition for injury but that other nations might also now apply this same argument to attack us farm programs
after averaging 621 pct yesterday federal funds were opened at 6 1 8 pct and remained at that level
fleet comptroller irv goss said it is estimated that the transaction will result in minimal dilution in fleet norstar earnings per share
mcintyre said it retained an unspecified royalty interest in smoky river coal based on net operating cash flows from the companys coal properties
but german dealers noted that the bundesbank kept the 380 pct rate unchanged at which it offered liquidity to the money market this week dashing some expectations that it may either offer lower fixed rate money or offer a reduced minimum rate and let the strength of banks demands set the allocation rate
ciro inc ciri year
the capital increase will boost our operations she said
but the problem of bad loans led to a rescue by three state banks of medium sized turkiye ogretmenler bankasi as earlier this year when the treasury which acts as a watchdog body over banks discovered that the its assets were to a large extent made up of non performing loans
it is available in denominations of 1000 and 10000 stg and will be listed in luxembourg
houston lighting plans to buy back its outstanding 11 1 4 pct bonds of 2009 12s due 2010 12 3 8s of 2013 and 11 5 8s due 2015 and part of its 10 1 8s of 2004
these proposed transactions are yet another signal that american express intends to stay in the forefront of the financial services industry worldwide said american express chairman james d
johnson said that cargill has been dealing with a two pct spread in certificate transactions and that this is within the normal grain marketing levels
the uk remained rowntrees largest centre for trading profits accounting for 479 mln stg up from 453 mln in 1985
officials said there are already signs of that
csce puts additional margin on july coffee
the company said it will not disclose terms or other details of the acquisition until negotiations are completed
bank of thailand floats new government bond
aegon said it has written off 657 mln guilders in goodwill for monumental corp
evans and sutherland computer corp said it filed with the securities and exchange commission a registration statement covering a 50 mln dlr issue of convertible subordinated debentures due 2012
the christa was taken in tow with a damaged bow
coastal cgp seeks ok of transamerican plans
rjr nabisco inc filed with the securities and exchange commission for a shelf offering of up to 500 mln dlrs of debt securities on terms to be set at the time of sale
but it said receipts of solid material which had accounted for the majority of the revenue at the site could be restricted until 1988 pending resolution of capacity issues in the panoche site permit
wall street stocks chrysler c amc amo 
mepc extends offer for oldham
bishop graphics inc said it completed the sale of its newport beach art supply center to standard brands paint cos sbp art store unit
the systems have about 7500 subscribers
it said proceeds will be used for general corporate purposes which could include acquisitions business investments or debt repayment
meanwhile discussions on a new work agreement in the ports grain sector due to resume next week are stalemated although agreement could be close in the coal and ore sector the employers spokesman added
i cannot give you any forecasts in response to the future about the agreement i do not want to speculate on what will happen after sept 30 1988 he said
the dot said the air line pilots association filed comments opposing the merger but raised no new facts or arguments under the merger terms announced nov
beaver creek state bank in beaver creek minn failed and the banks insured assets were transferred to citizens state bank of silver lake minn the federal deposit insurance corp
the new site is expected to produce about 250000 lbs of uranium in its first full year of production in 1988
the cause of the fire was not known
in addition the six mths 1986 includes a 23 mln dlr gain on the sale of a unit and a one mln dlr writedown of a minority interest investment
the timing of the bank of england move took operators by surprise after its recent action seemingly designed to dampen hopes of a base rate cut ahead of the uk budget on march 17
powers said the state has asked for additional noise data for the sale area off alaskas north slope
those seeking to join are general electric co gen ford motor co fn citibank na bankamerica corp bacnyse shearson lehman bros inc saloman brothers asia boeing computer service unisys corp uisn societe generale and deutsche bank ag dbkgfra the merger plan has been criticised for excluding foreign firms from a meaningful position in the market
vw says 480 mln marks maximum for currency losses
because rates soared to the level of the lombard emergency funding rate yesterday banks fell back on the loan facility to draw down a high 53 billion marks in an attempt to meet bundesbank needs the data showed
anyone who was caught unaware was not on top of the situation anyway said another trader people talked about this before and after s and ps announcement
the purchase valued at 148 mln dlrs follows the recent acquisition of londons johnson matthey commodities limited deak said
the cane crush normally runs from june to december
fed buys 550 mln dlrs of bills for customer
a landslide breached iraqs one mln bpd pipeline through turkey on march 6 for a week and earthquakes in ecuador have shut down its export pipeline for four to five months
kuranari said he wants everyone in the telecommunications dispute including cable and wireless to be satisfied
the offer will expire april 14 1987
yugoslav 1990 steel output to hit 63 mln tonnes
the study also estimated that government grain stocks under the adequate certificate case would be 47 billion bushels below the zero certificate case at the end of the period examined
the notes and paper will be issued by iels sydney based subsidiary iel finance ltd
allwaste inc said it entered into an agreement in principle to acquire all the outstanding common of a related air moving and industrial services company
tamura said there was deep regret over the us measures which will impose 100 pct tariffs on about 300 mln dlrs worth of japanese imports of some small computers colour television sets and power tools
shr 24 cts vs 21 cts net 9700000 vs 8286000 revs 1206 mln vs 1157 mln avg shrs 400 mln vs 399 mln year shr 69 cts vs 68 cts net 278 mln vs 271 mln revs 3749 mln vs 3588 mln avg shrs 400 mln vs 399 mln note 1986 year net includes charge of 2396000 dlrs or six cts a share for debt redemption
there is no formal plan yet but talks are in the latter stages one representative of the german banking association in cologne said
privately held investment firm dubin clark and co said it has signed a definitive agreement for an investment group it heads to acquire roberts consolidated industries from beecham group plc for 45 mln dlrs
the bank of england and fed said they had faced a dilemma
members of the inter african coffee organization called for todays producer meeting to exchange views on the market situation the producer delegates said
i think it still is under active debate whether or not it would be advisable to make an the export enhancement offer to the soviets thomas kay administrator of the departments foreign agriculture service told 
the company said ice creations had sales of 12 mln dlrs in the year ended may 31 1986
other states showing big enrollment were missouri with 646000 acres north dakota with 588000 acres and nebraska with 554000 acres
us silver production rose in december
included in the 1986 numbers are a 564 mln dlr gain from sale of the different businesses a 270 mln dlr pension credit and a charge of 473 mln dlrs from the purchase of long term debt at a premium under the recapitalization
a one percentage point fall in key 10 year bonds rates in the past month record share prices and a 10 month high for the currency of 071 us dlrs all illustrated the inflow
the company said it is working to conclude a lease financing or other financing for the purchase of the 23500 ton vessel which is to be delivered in early april and renamed canada star
towle and co a st
it said its dealings in triad common stock were done on behalf of its advisory client
but agriculture minister kato has ruled out any emotional reaction and the senior ministry official said the farm issue should not become a scapegoat for trade pressure in the industrial sector
investor firms have 255 pct of symbion symb 
dealers said the bank of france intervened to absorb liquidity to hold the rate at 7 3 4 pct
integrated circuits ictm sets record date
she said the acquisition fit with air canadas strategy of seeking attractive investments that compliment its main airline business
he also reiterated that there was no need for an emergency opec meeting
1985 revenues na because 1986 was initial year of product revenue
cheetham last traded at 310 dlrs
s and p said the actions reflected trinitys weakened earnings due to depressed demand in several key markets the likelihood that a significant sustained improvement would not occur in the near term as well as heightened financial risk from a series of debt financed acquisitions
warren lavorel a us trade official defended the policies saying they did not violate gatt trade rules
the european commission is to consider proposed new higher minimum standards for sales of durum wheat into intervention stores european community sources said
the liquidity doesnt disappear all its doing is disappearing from the equity markets dennis noted
qintex america ltd said its offer for 33 mln princeville development corp shares has been extended to march 19 from march 18
the smelter near frankfurt had annual capacity of about 44000 metric tons but was operating at about half that in january spokesman fernand leclerc said
investor david f
grain ships loading at portland
oper shr profit 12 cts vs loss 115 dlrs oper net profit 300286 vs loss 2855887 revs 2456616 mln vs 2979206 avg shrs 2527720 vs 2482197 note 1986 earnings exclude extraordinary gain from forgiveness of debt through reorganization under chapter 11 of 280505 dlrs or 11 cts a share
coleman co said it expects a first quarter charge against earnings of 16 mln dlrs or 23 cts a share as a result of its voluntary program to replace condensing heat exchangers in its early model 90 series high efficiency residential gas furnaces
us agriculture secretary richard lyng said the united states will continue its policy of subsidizing farm exports to regain lost markets until there is a global agreement to end such subsidies
if prices went much above that he would expect some over production above opecs official 158 mln bpd output ceiling which would tend to bring prices back down
it said the agreement covers 76 stores in 21 states including inventory and fixtures
a companion measure reducing the proportion of funds which banks must invest in specific areas also takes effect tomorrow
they said princeville airways is expected to operate as a subsidiary of aloha inc and will continue to use the princeville aiways name
nestle 1986 net 179 billion swiss francs vs 175 billion div unchanged 145 francs
television reported that the port was operating at full speed but thats not true a striking seaman told 
export guesses for all wheat ranged from 160 to 200 mln bushels compared with 164 mln last week and 112 mln last year
reporting on the us debt strategy baker said attitudes in debtor nations have changed and there is much greater acceptance of free market reforms than hitherto
gluck said the recapitalization plan will be submitted for stockholder approval at a special meeting expected in june
he said any amendment proposed would probably be designed to thwart a company from dismantling a company for its own profit
delhi australia fund owns delhi petroleum pty ltd which holds an average of 25 pct in the santos ltd stoss led cooper and eromanga basin gas and liquids projects
im more concerned about the export side he told a house appropriations subcommittee
bank takeovers are less likely because banks cant use their own stock to make acquisitions because their share price is too depressed alpert said
the idc official declined to specify what was holding up the talks
the japan overseas economic co operation fund is to provide 260 mln dlrs towards chinas plans to improve its road network the official new china news agency reported
shr 46 cts vs 31 cts net 3608000 vs 2448000 revs 2235 mln vs 2182 mln six mths shr 87 cts vs 64 cts net 6788000 vs 4992000 revs 4415 mln vs 4395 mln
it would be my thought that its not worth any effort to work out an agreement with someone who wants the agreement to be a one sided thing he said
terms were withheld
an additional 143000 tonnes of mixed poultry feed are still available to north yemen under the export enhancement program announced april 14 1986 it said
last november palomino said conades plans included the possible sale of a company producing palm oil and another manufacturing electrical appliances
local m1 dropped 60 pct to 5447 billion dlrs after januarys rise of 123 pct
borden also said the divestment of three operations with about 50 mln dlrs a year in sales is expected to produce nearly 45 mln dlrs in cash for use toward the purchase of new businesses
the issue is non callable and will be listed on the london stock exchange
credit agricole announced an offer to swap the 1889000 francs of bonds outstanding on its original 425 mln franc 10 year 14 pct july 1980 issue for its new four billion franc two tranche 830 pct 1987 issue
cut were its senior debt to aa from aa plus and subordinated debt and preferred stock to aa minus from aa
itoh finance europe ltd is issuing a 30 mln dlr deferred coupon eurobond due march 30 1992 and priced at 1001 pct wako international europe ltd said as lead manager
qtly div three cts vs three cts prior pay may 1 record march 31
the previous agreement had proposed a three month period
the actual percentage of shareholdings should be agreed by the core companies he said the eight core companies will provide directors for the firm
i see it as giving american consumers the information they need he said
all that would of course intensify social difficulties mikulic added
the notes have an 8 3 4 pct coupon and were priced at 9920 to yield 125 basis points more than comparable treasury securities
carson crn cites impact of tax reform act
swedens gross national product rose 13 pct last year against 23 pct in 1985 mainly due to a lower than forecast growth in exports and a sharp fall in total investments the central bureau of statistics reported
1986 net excludes tax credits of 1295000 dlrs in quarter and 2712000 dlrs in year
the complaint said vaskevitch leaked information about 12 companies that were involved in a merger or aquisition which resulted in more than four mln dlrs in profit for himself and others involved in the scheme
the government will announce its decision on friday when it unveils the countrys budget
the experts say that without a major initiative from the development banks the vicious circle will continue with countries cutting more forest to help service short term debts at the cost of long term insolvency
all trades will be reflected daily in changes in these accounts hu said
british trade minister alan clark said this week in a radio interview that the european community should build barriers against japanese imports through certification procedures similar to those facing european exporters in japan
figures released earlier this week showed retail sales in january fell 22 pct mainly due to exceptionally cold weather
the next reading of the economys health should come early next week with the release of gnp figures for the last quarter 1986
net official borrowings comprised 152 billion dlrs against a net outflow of 548 mln in the third quarter and a 516 mln inflow a year earlier
falling soybean crush ratios cut output
backlog 230 mln dlrs vs 147 mln dlrs at start of fiscal year and 148 mln dlrs at the end of the first quarter
several businessmen called for a return to the imf arguing this would give the country access to new funds and allow the economy to grow
numac oil and gas ltd said it arranged a 597 mln dlr financing with two investment dealers
new york times co nyt 3rd qtr net
div 50 won vs 50 won net profit 354 billion won vs 342 billion sales 42149 billion won vs 37792 bilion note company has set 1987 sales target of 5200 billion
italys banca commerciale to launch eurolire bonds
of all polled companies 23 pct rated their export order books to be above normal and 53 pct described them as normal while only 23 pct believed export orders were below normal levels
in december the brookehill group in new york said it had 97 pct stake
member states of the european community are starting to run out of patience with japan which they believe has repeatedly promised major initiatives to open its market to imports but as often made only minor moves
the total excluded losses of 30 mln dlrs on discontinued operations
us soy producers think ec oils tax unlikely
occidental oxy in big peru heavy oil find
manufacturers hanover declined to comment on the issue
preussags domestic group turnover rose to 448 billion marks in 1986 from 429 billion in 1985 helped by the first time consolidation of 9518 mln marks of turnover from its majority owned oil and gas subsidiary c
it matures on that day in 1992
middle south has petitioned the court for a rehearing or a stay of the order while it is being appealed
the export duty and gazetted price of palm kernel stood unchanged at 19115 and 95575 ringgit per tonne respectively
other former chairmen include william douglas who served from 1937 until his appointment to the us supreme court in 1939 and william casey who served during president nixons first term and was reagans director of the central intelligence agency until his death earlier this year
the commission has already decided to accord rebates for the export of 500000 tonnes of french maize of which rebates for around 100000 tonnes have been granted
banca del monte di parma said it will issue up to 20 mln dlrs of euro certificates of deposit on the euromarket
cotton planting progressed in the lower valley
full name westworld community healthcare inc
buffer stock manager aldo hofmeister has been mandated to continue selling rubber during the interim period
the joint committee of taiwans soybean importers awarded a contract to richco grain ltd of new york to supply a 27000 tonne cargo of us soybeans a committee spokesman told 
the loan will benefit nepal by increasing foodgrain output augmenting production of milk and other dairy products and expanding energy generation in rural areas it said
however the case of plywood was less clear
however the rating agency pointed out that last quarters number of downgrades was the lowest since first quarter 1986
bolivian miners call general strike
home shopping hsn files 400 mln debt offering
austec international ltd said its north american unit austec inc completed the purchase of privately held ryan mcfarland corp for an undisclosed sum
the cap is 12 pct
burry forecast earnings of 200 dlrs per share in 1987 and 230 dlrs in 1988
rha said that 1986 was the first year south korea had a trade surplus 45 billion dlrs against a 1985 deficit of 900 mln dlrs
multivest corp said it has ended talks on oryx capital corp s possible acqusition of multivest and is starting an offer of 151 dlrs a share for all the oustanding shares of tbc industries inc multivest said its tbc tender offer is scheduled to expire april 30
us senate hits ec oils tax vows retaliation
i surely did not see this happening he said of mondays stock market free fall
we think we made a fair offer that is good for borg warner management and good for its shareholders heyman said
kaplan is also controlling shareholder of hunt valve co inc the amount of the cash transaction expected to close in april was not disclosed
it said penteco in turn has purchased one mln shares of reef common and taken options for the purchase of another two mln shares over the next 36 months
an officer with s and p said at the time the rating agency was not told beforehand that the issue had been increased in size
they are definitely going to have a manpower problem one swiss banker said
north broken hill holdings ltd nbhame nbh said it will offer one norgold ltd share for every five nbh shares in the float of its newly created gold offshoot
financial aid from the ec had also helped to boost investment last year the bank said
alcoa raising prices of aluminum beverage can stock eight pct
usda grain inspection advisory committee meeting
marines began blockading the ships on friday after the strike was ruled illegal and some strikers are running short of food national merchants marine union president edson areias said
yugoslavian oil firm starts working with french
their borg warner policy has been to stonewall them for the last nine months
singapores m 1 money supply rose 37 pct during december to 982 billion dlrs after a 20 pct increase in november the monetary authority of singapore mas said
citicorp cci sec filing not tied to debt talks
colombias cost of living index rose 203 pct in february after a 327 pct increase in january and a 315 pct rise in february 1986 the government statistics institute said
harkin said his policy of high price supports would not ruin us agricultural exports as critics claim but would increase overall revenue from exports
spreads against the mark remained around 10 basis points with some banks quoting only five point spreads
traders said rumors which began yesterday added to speculation that the company would be the target of a takeover
the philippines rescheduled 103 billion dlrs of its 28 billion dlr foreign commercial debt in march
it said revenues in the quarter are expected to be about 1200000 dlrs compared to 564000 dlrs a year earlier
strength in the single family sector indicates that low mortgage rates are doing their job
certainteed seeks 150 mln dlr credit facility
the official said orion would redeploy the three traders who had been in the frn sector mostly to their euro commercial paper operation an area the bank believes has a greater growth potential
since the beginning of march the coffee market has been strictly regulated by the state food marketing monopoly enapal
similarly southern nsw wheat might better be shipped to portland or geelong in victoria
but while compliance with the new measures could necessitate hours of clerical work bankers said the end return to the treasury may not prove as lucrative as anticipated
the institutes also criticised bonn for increasing subsidies at a time further reductions had been pledged
dealers said a larger amount of funds in the form of interest and repayments on state loans went out than came in the form of tax payments to the state
the sec currently has about 2000 employees most of them lawyers and an annual budget of about 115 mln dlrs though that figure likely will be significantly higher next year as the agency moves to beef up its enforcement staff
the commodity credit corporation ccc accepted a bid for an export bonus to cover a sale of 12500 tonnes of us wheat flour to iraq the us agriculture department said
feed usage for corn wheat soybean feedgrains sorghum barley oats includes residual amount
citicorp denied financial market rumors that it has written off some of its loans to latin american debtors rumors that we have written off any of our latin american debt are unfounded a citicorp spokesman told in response to london based rumors in the money markets
britain has threatened to withdraw the licences of japanese banks and insurance companies to operate in the city of london because the british cable and wireless company lost out in competition for a japanese telecommucations contract
apea had expected the government to make positive responses to detailed industry submissions seeking the removal of existing secondary tax disincentives to exploration and development the council said
he said in a parliamentary debate i can now tell the house of commons that the dollars that were sold from the reserves in september and october 1986 have subsequently all been repurchased at a profit of some tens of millions of pounds hindsight had proved him right to resist market pressures then for a two percentage point interest rate rise he said
any further decline in raw sugar prices is likely to attract buying from the soviet union and china woodhouse drake and carey said in their latest weekly market report
traders also said that rogers reiterated a recommendation of international paper another forest products company that scored large gains in january as the dollar floundered
bankamerica corps bank of america unit said it completed the previously announced sale of bankamerica finance ltd to bank of ireland for an expected pre tax gain of 23 mln dlrs
indonesia imported 162000 tonnes of sugar towards the end of last year and in early 1987 to boost low stocks
chinas application could be considered a test case he said
its alex
housing prices rose 04 pct in february after a 05 pct january increase largely due to a rise in fuel oil prices
standard and poors said it lowered robert bruce industries incs 15 mln dlrs of subordinated debentures to ccc from b minus because of a deterioration in earnings and cash flow
wall street stocks american express axp 
exports other than coffee rise sharply in colombia
the defense electronics group designs and manufactures weapons management systems flight control systems remotely piloted vehicles and reference and navigation systems mainly for military markets
meanwhile the end holders of perpetual notes most of whom are japanese banks must still find a way to value them by year end now a week away
says it leads group with 98 pct of media general may seek control
labour leaders in the copperbelt said last week gangs of unemployed youths were being formed in the politically volatile region to take action against shops that did not reduce their prices after todays deadline
an 18 member contact group will meet at midday to examine new ideas and the full council is to convene at 1900gmt they said
us intervened to aid dlr in january fed says
ferry disaster claims could top 30 mln stg
company said common shares outstanding down significantly to 7814000 reflecting retirement of about 5200000 shares since start of restructurining in august 1986
the issue price will be 9644 pct and the payment date is march 30
reagan sees room for interest rate declines
lone star industries inc said it has agreed to acquire ready mixed concrete and aggregates businesses from riedel international inc of portland ore for an undisclosed amount of cash
relaxation of issue rules would be better applied not only to straight corporate bonds but also convertible bonds and warrant bonds to call back issuers effectively from overseas markets a nikko securities house bond manager said
in connection with the agreement flinstone was granted a security interest in its inventory receivables and equipment and in certain property in irwin county ga
exxon said that the ratio of debt to capital was cut by 16 pct in 1986 from the previous year to 19 pct
moodys affirms avco financials long term debt cuts commercial paper
geonex sees sales hurt by production shift
jardine matheson holdings ltd jardhkg year 1986
us minerals said the mine is designed to operate at an average of 12500 tons or ore per day and is projected to produce 95000 ounces of gold in 1988 plus significant quantities of silver lead and zinc
franco nevada said american barrick announced on march nine that the drilling indicated a number of significant intersections of sulfide gold mineralization below a depth of about 1000 feet
ecolab said the offer is conditioned on receipt of at least 5325000 shares
the decision was taken at a meeting of the authoritys cereals management committee today
data general to take 182 mln dlr pretax charge to redeem 150 mln dlrs of debt
to help combat endaka and the slump in tourism the tourist bureau prepared a pamphlet economical travel in japan it gives budget saving tips on finding medium priced business hotels and japanese style inns cheap sushi and public baths while getting a revealing glimpse of japanese in their daily lives residents of okubo house a transit hotel in tokyos shin okubo love hotel district offer even more savvy advice
last month president reagan announced the sanctions in retaliation for what he called japans failure to honour a july 1986 agreement to stop dumping computer microchips in markets outside the united states and to open its home market to american goods
the plan also would allow the agriculture secretary to increase the unpaid acreage reduction requirement for corn by an appropriate amount to generate savings if projected corn stocks exceeded 60 billion bushels
the 43 km link with a maximum capacity of 50000 bpd will run from lago agrio the centre of of ecuadors jungle oilfields to an existing colombian pipeline that runs to the pacific port of tumaco
we are negotiating so that the debt question should not be one of continuous crisis to sustain internal growth brazil would have to import more machinery and equipment this year and export fewer raw materials
estimates ranged from 560 mln to 630 mln acres of soybeans and 595 mln to 680 mln acres of corn
but baker said at the weekend that the west german rate rise was not in keeping with the spirit of what we agreed to what im really saying is that they should not expect us to simply sit back here and accept increased tightening on their part on the assumption that somehow we are going to follow them he added
ldc food aid needs decline in 1986 87 usda
we have left the door open and ge is reassessing the merger and so are we westinghouse chairman douglas danforth told at the conclusion of a meeting before analysts
the letter from gardner said he resigned the board because the merger agreement with hutton barred directors from soliciting new offers and he believes shareholders might get a better deal
prime minister andreas papandreou has withdrawn a request to washington to suspend operations at an american army base near athens as a greek turkish row over oil rights in the aegean eased
it is barely one month since the end of an eight week campaign of lightning strikes against redundancies in rotterdams general cargo sector which stevedoring companies said cost them millions of guilders
the average dollar yen rates were 15232 for exports and 15231 for imports against 19661 for exports and 19627 for imports a year earlier
venezuela backs increase in ecuador opec quota
with the dollar stable and economic data giving the federal reserve little room to ease monetary policy the inflation outlook is improving leiner said and that should lead to relatively stronger bond prices than bill and eurodollar prices
epsilon data management inc said it had executed a new revolving credit and term loan agreement with the shawmut bank na it said the total credit available under the newly signed agreement is six mln dlrs
it also bought two mln stg of treasury bills in band two at 9 13 16 pct
mulford criticized what he called large scale solutions to the debt problems effecting many developing countries ranging from debt forgiveness to creating new multilateral institutions for lending
the deficit with newly industrialized far east countries including hong kong south korea singapore and taiwan fell 500 mln dlrs to eight billion dlrs and with canada the deficit decreased 200 mln dlrs to 33 billion dlrs in the quarter
turkey current account deficit widens in july
however some foreign exchange dealers disagreed saying the local dollar is primarily interest rate driven and will move lower
the shanghai official said rural residents who work in industry or commerce usually keep their land to farm in their spare time or let other family members farm it
the traders recently returned from west africa say producers there are unhappy about the impact on cocoa prices so far noting producing countries are part of the international cocoa pact and deserve the same treatment as consumers
wellemeyer speaking to reporters at an offshore oil engineering conference also said he expected opec nations to attempt to hold prices under 20 dlrs a barrel for several years to keep industrial demand for residual fuel oil strong
a world bank team led by senior economist katrine saito arrived in uganda for talks on an economic recovery program projected to cost one billion dlrs over three years
the company said its auditor touche ross and co has indicated to it that any opinion it issues on the companys soon to be completed year end audit will be qualified
kanan said the loans were for jordans own nine billion dlr 1986 1990 development plan and not for the parallel controversial 13 billion dlr plan for the israeli occupied west bank and the gaza strip
four banks barclays bank plc canadian imperial bank of commerce lloyds bank plc and standard chartered bank have agreed to underwrite the credit in a pre syndication agreement and will act as lead managers in syndication due to begin soon
japan buys large amount of brazilian soybeans
west german 1986 oil meals cakes use up
service resources src unit cuts sorg srg stake
but he said the deterrence policy had failed and the level of violence and threats to shipping had increased as a result of us intervention and irans response
china can play an important role by actively joining gatt discussions seeking to expand general trading opportunities and enhance market access for exports worldwide
bank of new york co said it and the management of rmj securities corp have agreed to sell 80 pct of their interests in rmj holding corp to british and commonwealth holdings plc and bank of new york expects to realize a substantial gain on the transaction
in a pre summit speech celebrating the 40th anniversary of the marshall plan reagan who spoke to an audience of foreign affairs experts also pledged to push for economic expansion by west germany and japan to bolster the world trading system
but the venture has no firm estimates on the costs of extracting the gold and no assurances can be given that the reserves can be mined profitably the company said
it considered those conditions unreasonable in the interest of trying to negotiate a friendly transaction it said
the remaining 200 billion yen will yield 36503 pct in 50 day repurchase agreements maturing on august 19
the juvena 53351 tonnes dw ran aground outside tartous port basin breakwater on february 25 in heavy weather and rough seas
reliance electric was a unit of exxon corp xon until december 30 1986 when a group of investors took the company private in a leveraged buyout a reliance spokesman said
taft braodacasting co said its board of directors unanimously decided not to accept the pending proposal of theta corp an investor group led by dudley taft
the wholesale price index base 1963 stood at 1685 in february from 1761 last year
the bank of france said it left its intervention rate unchanged at 7 3 4 pct when it injected funds to the market against first category paper in todays money market intervention tender
soybean sales of 483100 tonnes were 11 pct above the prior week and two thirds above the four week average
dividend pay may one record april 25
the bank is also looking into joint ventures with manufacturing and trading companies segal added
norway offers 11th licence round offshore blocks
ico quota talks continue outcome hard to gauge
anitec said the offering is being underwritten by smith barney harris upham and co donaldson lufkin and jenrette securities salomon inc sb and mabon nugent and co
group shr 2420 yen vs 3742 net 1095 billion vs 1546 billion pretax 2525 billion vs 3115 billion operating 2839 billion vs 3173 billion sales 59237 billion vs 59386 billion note no forecast for current year
a meeting of eight latin american coffee producers ended with a call for continued talks aimed at arriving at an agreement to stabilize international prices
the latest deregulation measures were welcomed by most bankers in contrast to rulings issued earlier this month which imposed a 19 pct reserve requirement on new convertible peseta funds held by banks and freed short term deposit rates
rai research corp rac 3rd qtr feb 28 net
mutual had challenged the adequacy of the price
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
west texas sour is also now priced at 1700 dlrs bbl and light louisiana south is posted at 1735 dlrs bbl
total 1985 turnover was 42 billion guilders
johnson geneva usa said it has agreed to buy pan am corps 50 pct holding in their joint venture company pan am pacific satellite corp for undisclosed terms
amc imposes hiring freeze due to takeover bid
miyazawa said the tokyo stock market should not be gravely affected by the downturns of markets in new york and london because there is a clear sign of an economic recovery in japan and stability of exchange rates
behind bakers remark was us frustration over higher interest rates abroad especially in west germany but this does not represent its readiness to scrap the basic framework of the louvre accord the finance ministry official said
outboard marine corps top executives are making sales presentations to portfolio managers and analysts ahead of a planned two mln share offering expected soon company officials said
spectran corp sptr 4th qtr
natures sunshine products inc amtco 3rd qtr
james mcclure an idaho republican said baldrige told them the administration had not made a final determination that japanese companies had dumped semiconductor microchips below the cost of production in the united states or other countries
correction london citibank launches warrants in london item citibank launches currency warrants please read second paragraph as follows each warrant priced at 4750 dlrs gives the holder the right to purchase a nominal sum of 500 dlrs against marks at 18250 marks to the dollar or at 14950 yen to the dollar between march 31 1987 and march 31 1989 corrects dollar mark exchange rate to 18250 and makes clear that dollar purchase is against marks or yen
hall and co inc said its independent accountants will issue a qualified report on its financial statements
brazilian beans are available to japan for shipment from may to july
the company did not disclose the cost of the changes made in the severance retirement or stock plans
the philippines and its commercial bank advisory committee will resume talks tomorrow on what bankers hope will be the final leg of negotiations for a 94 billion dlr debt rescheduling package
the increase was due almost entirely to a sharp rise in the goods trade surplus to 1261 billion francs from 204 billion
the agency said they also lowered to caa from ba 1 the ratings on getty oil cos notes and getty oil international nv s eurobonds
ual ual has no comment on stock rise
goodrich said it will continue to make aircraft tires at norwood nc and sonar domes at jacksonville fla and will relocate its molded rubber products business to a site not yet chosen
great american management and investment inc said its 80 pct owned subsidiary agreed to buy certain assets of two subsidiaries of standard oil co for 40 mln dlrs and the assumption of certain liabilities
hughes supply inc hug 4th qtr net
those changes are intended to make the reference price more responsive to market trends
it said it and rmj securities management will continue to own 20 pct of rmj holding for now but the agreement provides for the sale of that remaining interest to british and commonwealth over the next six years
qtly distribution 435884 cts vs 372427 cts in prior qtr payable april 10 record march 31
the new england reciprocal banking laws have excluded new york as a means of protecting regional banks from being gobbled up by the money center giants
the redemption price will be 111138 pct of the total principal amount of notes then outstanding plus accrued interest to the redemption date it said
global trading of yen bond futures is just around the corner and they are expected to be listed soon on the london international financial futures exchange liffe and the chicago board of trade cbot bond managers said
david kritchevsky associate director of the wistar institute in philadelphia appeared to take the asa view on labelling
in its original announcement yesterday usda had said the offer included three mln dlrs for the export of lumber excluding plywood
the bond equivalent yield on three month bills was 581 pct
supply side measures are critical there is a specific range of consumer and agricultural goods where they have an extremely restrictive regime which is wholly unjustified he said
this would compare with the previous record set last year of 603 mln
digital equipment corp said it will redeem on may 14 all 75 mln dlrs of its outstanding 9 3 8 pct sinking fund debentures of 2000
many banks said that they had for some time been providing more than the legal minimum of information
in malaysia trade officers and businessmen said tough curbs against japan might allow hard hit producers of semiconductors in third countries to expand their sales to the us in hong kong where newspapers have alleged japan has been selling below cost semiconductors some electronics manufacturers share that view
an additional 500000 tonnes of corn can be shipped from july september the grain associaiton said so total yugoslav corn exports could reach 20 mln tonnes the counselor said
usair said it has been advised by norfolk southern that the company supports the proposed merger and intends to tender all of its remaining 1477829 piedmont common shares in response to usairs tender offer which began today
since then negotiators have worked on the finer details of the new pact
the report dated march 27 said many sources have stated that the soviet union was initially interested in purchasing 23 mln tonnes lof corn from argentina
south africa will disclose later today new arrangements for its repayment of foreign debt the finance ministry said
hog and cattle slaughter guesstimates
fletcher challenge disappointed at nz forest moves
but therefore japanese goods may keep their price competitive edge said azusa hayashi director of the first international economic affairs division of the foreign ministry
the bank of finland said it has revised the weightings in its currency basket with effect from today
a requirement of around 51 billion is expected
hamburgische lb bond raised to 75 mln canadian dlrs
shr profit 12 cts vs loss two cts net profit 182173 vs loss 28977 revs 4483047 vs 3994808 1st half shr profit 14 cts vs loss eight cts net profit 221376 vs loss 120435 revs 8270947 vs 7150265
the department also projected 1987 spring potato crop area planted at 79300 cwts vs 77400 cwts last year and area for harvest at 76700 acres vs 75900 acres harvested last year
a young country cannot go on indefinitely sacrificing everything for the sake of servicing its external debt president mobutu sese seko commented in october when he announced his governments decision
they said there were no injuries on board and the ship headed for the gulf emirate of fujairah under its own power after the fire was put out
blackburn intends to run a tight ship in which dividends will not initially be paid and the resultant savings invested into exploration and production
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
rexnord said it still plans to sell its process machinery division and mathews conveyor co as part of its planned program to divest five businesses with 200 mln dlrs in assets
british politicians urge japan trade sanctions
delegates speculated brazils financial problems illustrated by its recent suspension of interest payments on bank debt have increased political pressure on the country to protect its coffee export earnings
shr six cts vs three cts net 17 mln vs 31 mln revs 1873 mln vs 1297 mln noteincrease in earnings due to elimination of preferred dividend requirements
dumez is a private company owned jointly by dumez sa and unicorp canada corp
morgan guaranty ltds novel and complex repackaging of westpac banking corps perpetual floating rate note frn may attract some investors but is unlikely to aid current holders of the westpac securities or the frn market frn traders said
the government is assuming the price of oil will average 15 dlrs a barrel in line with its earlier forecasts and its oil revenue calculation is based on an exchange rate remaining close to current levels the treasury document said
however traders said there seem to be few buyers around lessening the disruptive impact of the delay
dealers said the earlier intervention was in concert with the bundesbank and bank of japan
the st lawrence seaway and the welland canal linking lakes erie and ontario were expected to open as scheduled on march 31 and april 1 respectively a st lawrence seaway official said
i expect to see the shutdown of more small refineries over the next five years he said adding that these facilities refine between 10000 and 30000 barrels of crude oil per day
west germanys current account surplus the target of considerable criticism by the reagan administration is expected to rise slightly to 37 billion dlrs this year from 358 billion in 1986 before declining to 29 billion dlrs in 1988
a communique read over the state run television tonight said that during todays weekly cabinet meeting the veteran ivorian leader reaffirmed his faith in ivory coasts bright economic future despite the commodities price slide
the share certificates issued through the conversion will be distributed to noteholders beginning march six savin added
towle manufacturing co operating under chapter 11 said that based on a reorganization plan it is likely that its outstanding common and preferred will be substantially diluted or cancelled
it said the 75 mln dlr gain from the sale and about 125 mln dlrs of statutory surplus that previously supported operations of the group being sold will be used to support transamerica life cos efforts to accelerate the growth of its remaining businesses
more
the united states nato and the united nations all called on greece and turkey to exercise restraint
secondary and tertiary oil production expensive methods of production that inject water or gas into the ground to recover oil should also be exempted from the severance tax nugent said
in a speech sarney justified his measure as a need to face current well known difficulties to obtain foreign loans for the purchase of goods the parallel market although tolerated is technically illegal
they touched a high of 538p earlier on news of a 19 pct rise in annual profits to 139 billion pre tax
lorimar declined to explain the nature of the conflict or the amount involved
federal industries ltd said it introduced a commercial paper program with an authorization of 440 mln dlrs through agents bank of montreal dominion securities inc and wood gundy inc
american city ambj sets initial preferred div
qtly div 50 cts vs 39 cts pay jan 20 record dec 31
qtly div 25 cts vs 25 cts pay april 20 record march 31
shr nine cts vs four cts net 658159 vs 299930 revs 3770341 vs 2614224 avg shrs 7382802 vs 6747442 year oper shr 33 cts vs 18 cts oper net 2287179 vs 1045799 revs 131 mln vs 8577853 avg shrs 6874505 vs 5951612 note 1985 year net includes 13000 dlr tax credit
ericsson said intelsa which controls about 40 pct of the spanish telephone switch market has 2400 employees and annual sales of 800 mln crowns or 117 mln dlrs
leading brazilian party supports moratorium
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
rumors that new york investor asher edelman has acquired a stake in polaroid corp and optimism about tomorrows status hearing on the patent infringement suit pending with eastman kodak co ek sent polaroids stock higher traders said
but for the moment were still in a trading range even unexpected developments concerning the growth of the us economy may not be enough to spur the market out of its sluggish state the analysts said
proceeds from the proposed transaction are more than the price projected in the companys recent initial public offering it said
hilton which hopes to build 50 all suite hotels within five years may take in partners in the new venture he added
the 20 pct stake in moulinex sa mouppa sold by scovill inc of the us was spread among at least 50 institutional investors worldwide a spokesman for brokers james capel said
miti estimated that it would help solve japans trade problem to the tune of about 10 billion dlrs a year
gorman
however if the political reality is that disaster aid for winter wheat farmers would be unavailable because of controversy over spring wheat then english might consider an even greater cutback in the bill they said
stifel has about 36 mln shares outstanding
brazilian finance minister dilson funaro met his swiss counterpart otto stich swiss economics minister jean pascal delamuraz and national bank president pierre languetin on the fourth leg of a tour to discuss his countrys debt problems
and renault could have gotten a much better price if wed done it before the end of last year in addition to amcs debt and its pension liabilities the source said chrysler would also assume any liability from lawsuits over the safety of jeeps which he called an overhang to the company analysts quoted chrysler officials as having told them that the deal includes payment to renault of 200 mln dlrs principal in the form of a 10 year note at eight pct interest 35 mln dlrs cash for renaults equity in amcs finance subsidiary 25 mln dlrs in cash for transaction fees in connection with the acquisition and 522 mln dlrs worth of chrysler stock to be paid amc shareholders
for the time being we will have to focus our policy more on the external side and we can live with a more expansionary money supply
the following proposed securities offerings were filed recently with the securities and exchange commission essex chemical corp esx offering of 60 mln dlrs of convertible subordinated debentures due 2012 through thomsom mckinnon securities inc and painewebber inc
italy m 2 up 28 pct in 3 months to end january
it said integration of addressograph farrington inc a private company acquired on aug 25 1986 is proving more difficult than expected
the expenses will be charged against fourth quarter results it said
however in general plant development was at least three weeks or more behind normal this spring and conditions varied greatly by regions the report said
in january prices had fallen 08 pct against the same month a year earlier
mthly div 14 1 2 cts vs 14 1 2 cts prior pay july one record june 17
the company said extensive testing indicates a problem found in the furnaces is not safety related
opec may have to meet to firm prices analysts
some banks including citibank morgan guaranty and bank of america are already preparing to downgrade their brazil loans
the transaction involves one quarter of the company owned bojangles restaurants and is in accordance with its restructuring program announced in october 1986
the tender quota in april september is 10 pct of the agencys beef import share
we cant say yes we are going to do it revoke licences but this is definitely being considered an official said
ltd involves a works due to go on stream in 1989 producing 250000 tonnes of non corrosive quality steels annually
holland president of us sprints dallas based southwest division told in an interview that he did not know what it would report for the first quarter but agreed that for the year the company should have about the same results as last year when it lost about 500 mln dlrs he noted the company was slated to spend 23 billion dlrs over two plus years to set up its network
cheung kong also reported extraordinary gains of 9836 mln dlrs mainly from the firms sale of the hong kong hilton hotel to hongkong electric holdings ltd hkehhk for one billion dlrs
we know it has been used indeed to not only launch small boat attacks on shipping but to fire on us helicopters its removal will contribute significantly to the safety of us forces in the future weinberger said of the us navys operation to escort oil tankers through the gulf
shr 69 cts vs 64 cts net 66719000 vs 61773000 rev 2856 mln vs 2597 mln note earnings include after tax gain of 294 mln dlrs or 30 cts a share versus after tax gain of 314 mln dlrs or 32 cts a share for 1986 first quarter
the companies said with the merger nolan now will be known as nolan norton and co partners the information technology arm of peat marwick
income tax rate for year 459 pct vs 341 pct due to abolition of investment tax credits
it said the business will operate as ambrose video publishing
no explicit target was set for the broad sterling m3 aggregate he said
somerset bancorp inc sombo 3rd qtr net
statoil refused to disclose its upgraded reserve estimate for the field
christopher bond r mo countered during the hearing that such a grain export cartel is not workable
allis chalmers ah on s p creditwatch developing
ginnie mae drops fee increase on securities
obrien energy obs sells convertible debt
schlumberger is an oilfield services company controlled by french interests and headquartered in new york
traders projected soybean exports at 16 mln to 18 mln bushels down from 186 mln bushels a week ago and 203 mln bushels a year ago
oil rose during the week on reports that opec nations were maintaining production quotas and official prices and got an extra boost friday due to the suspension of oil exports from ecuador after an earthquake thursday
this package has been harder than all the others i hope we find a way thats not so debilitating for the people who have to put them together gurria said
the implied senior secured debt rating is bb
shr 39 cts vs not given net 8801000 vs not given revs 332 mln vs not given
us weekly soybean crush 21782929 bushels
bildner and sons inc said it expects improved earnings and sales in the current fiscal year
it is a diversified agriproducts company which produces and sells industrial and consumer flour flour based products and baked goods
qtly div 12 cts vs 12 cts pay april 8 record april 1
the rising cost of energy and imports is likely to boost consumer prices by an average of 37 pct this year up from 19 pct in 1986 bank of america forecast
matsushita to issue 200 billion yen convertible
at least 500000 tonnes of soymeal may be shipped from the european community and south america in the january march quarter with additional large quantities likely to be imported in the april and july quarters from argentina and brazil it said
wavehill international inc makes purchse
ibps latest offer included wage cuts of 60 cents an hour for slaughter operations and a 45 cents an hour cut in pay for processing workers
shr 75 cts vs 55 cts net 8031000 vs 5819000 nine mths shr 216 dlrs vs 142 dlrs net 232 mln vs 151 mln assets 341 billion vs 284 billion deposits 254 billion vs 219 billion note 1987 nine mths includes gain 1008000 dlrs or nine cts per share from utilization of prior years net operating loss carryforwards
as a result the groups shares rose strongly peaking at 865p from last nights 842p before easing to 860p at 1155 gmt
lifetime also said the private bank and trust of zurich on behalf of lifetime director and shareholder terence ramsden intends to subscribe for two mln shares of nippon lace at the same price paid by lifetime
the subcommittees bill would bar imports of digital audio recording equipment that is not made with anti copying chips
he told the legislative council the instruments would replace existing longer term government guaranteed export credit debt obligations
the merger is subject to regulatory and shareholder approval
williams details acceptances of norcros offer
the commerce department said this week that the economy grew by a robust 48 pct annual rate in the first quarter but a us monetary official called it a weak report
during 1986 the company cut operating administrative and marketing expenses by 91 mln dlrs and reduced the number of workers by 16 pct to 12500
the 30 countries covered by the figures account for about 97 pct of world non communist steel production the institute said
although the pc retailers are benefitting from the strong upturn in pc sales analysts said computerland must make key changes if it is to fend off advances from rivals like businessland inc buslo and tandy corps tan radio shack stores
the combination will result in record earnings of 240 dlrs a share the wholesale distributor and processor of eggs said
restoration of the depletion allowance for a 27 pct deduction from the taxable income of oil companies is controversal but might work said dunham
the 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
unocal corp ucl rose 1 3 4 while occidental petroleum corp oxy climbed 1 1 8 to 34 3 4
holders of the debentures and warrants will also have piggyback registration rights
payment date is may 11
the bundesbank declined to comment on rumours in tokyo that it was intervening heavily to support the dollar but dealers here said they had not seen the german central bank in the market all morning
ccc accepts bonus on cattle to canary islands
minguzzi added that under ec regulations the community has until early may to pay for the sugar
lyonnaise des eaux forecasts 1987 profit rise
the total was still the second highest ever reported but it was the first time income had not grown since 1961
bull and bear group a said it lowered its monthly dividends on three of its funds
us computer makers that use the chips in their machines will then be pressured
the industry has grown from 16 to 35 pct over the last five years based on earnings per share said jeffrey klein an analyst with kidder peabody and co
justo marin ludena president of the cafe peru group of cooperatives which accounts for about 20 pct of perus exports told a harvest of up to 1800000 quintales 46 kilos was expected this year
philippines liquidity rises loan demand falls
texaco said the largest drop in reserves came in the united states where the total dropped to 146 billion barrels from 155 billion
if iran cannot use the hormuz strait no other country can either and this would be to everyones harm the radio quoted him as saying
hudsons bay said the sale of its wholesaling unit is part of a program to concentrate financial and management resources on its core business of department stores and real estate
considerations about the futures business have been drawn out because of the large number of participants involved in talks
asked to comment michael samuels us ambassador to the gatt told these charges have been made since the very beginning
the ruling gatt council yesterday adopted a dispute panels report and ruled that the us superfund tax on oil imports breached trade rules
lichtblau called for the adoption of an international floor price for crude oil to help stabilize world oil prices
orange julius international inc said it entered into a definitive agreement to sell orange julius of america and orange julius canada limited to hc holdings inc owned by branford castle inc a merchant banker members of its management and certain of its shareholders
meanwhile pagecorp said it agreed to grant gordon an option to purchaser 900000 class a shares at 925 dlrs per share which is exercisable only if gordon makes the acquisition bid before december 4 1987 or if any third party begins a takeover before december 31 1987
as part of that agreement japan and west germany agreed to take steps to stimulate their economies and the united states agreed to cut its budget deficit
brazilian planning minister resigns
ibc president not to attend ico executive board
the series j debentures were issued in europe in 1977 and were due february 1992 the company said
in november jacobs had offered to enter into acquisition talks with borg warner based on a price of between 43 and 48 dlrs a share
the wholesale price index base 1980 was 1365 in february 1363 in january and 1392 in february last year
bear stearns and co and merrill lynch capital markets have tentatively been named as underwriters
strevig and associates a houston firm that tracks oil and gas reserve sales said growing interest among foreign buyers had helped push reserve prices in recent months higher
it is available in denominations of 5000 and 100000 canadian dlrs
lawson says louvre currency accord satisfactory
amid the swirl of new ideas even the role of the commercial bank advisory committees has come under scrutiny
speaking earlier in new york uruguays foreign minister and cartagena group chairman enrique iglesias said citicorps decision could discourage new lending
usda seeks comments on grain discount schedule
the agreement between norstar and fleet includes a lock up option designed to deter other acquirers
most economists are predicting over the weekend system repurchases
the subsidy is seen being set above 4500 ecus per 100 kilos although traders are reluctant to predict a precise level after prices fell yesterday
we want to open foreign markets and establish and enforce rules of international competition not foster dependence on protection and subsidies he said
there was also a lack of significant demand from major steel mills who made large purchases prior to the new year
the realtors group said the sales rise was apparent across the country and reflected lower mortgage interest rates as well as more housing demand
treasurys baker backs house panels fslic bill
chartered bank net foreign currency assets fell 231 mln dlrs to minus 200 billion dlrs
the pre dawn explosion ripped the wooden elevator open and a fire that followed continued burning at late morning but had been contained according to a dispatcher at the algona police department
they sat down together to discuss the implications for latin america and feel each other out on the best way out a wright aide said of the meeting
if things go well from now on we should see heavy harvesting without a break from august through november or even december one said
mees en hope declined to comment on the size of the second tranche but said the first tranche ended march 10 was for 50 mln guilders
in its first estimate for 1987 it puts ec plantings at 185 mln hectares compared with 189 mln in 1986 while it estimates sowings in western europe including ec at 249 mln hectares compared with 250 mln in 1986
he did not give details but said it is a very useful alternative and in the end will permit the banks to say that they achieved their pricing target and will likewise permit the philippines to say exactly the same thing quoting negotiation documents to be presented to the countrys 12 bank advisory committee business day said the debt certificates will carry maturities of five or six years
pinnacle incorporated in 1985 generates about 60 mln dlrs in closed mortgage loans annually
investment firm has 53 pct of blasius blaso 
court puts injunction on dutch port redundancies
but special steel boosted by strong demand for stainless cold rolled flats grew by five pct in tonnage terms
the spokesman added cnooc was ready to enter into contracts for offshore blocks before third round bidding began
shr 27 cts vs 25 cts net 6416000 vs 5988000 revs 1122 mln vs 998 mln note 1985 includes extraordinary income of 647000 dlrs or three cts shr
sogenal is the only french bank in austria it set up the first foreign exchange dealing room outside paris at its strasbourg headquarters in 1985 and is the only foreign banking subsidiary to be a broker on the zurich bourse
though the current semi annual council meeting is not the last chance for delegates to cement buffer stock rules producers are keen to get the wheels of the market stabilizing mechanism turning to stem the decline in world prices delegates said
the bridge financing is a temporary loan from hutton
frawley said the 1986 sale contract had included a barter provision but iran had paid in full in cash
the banks said indosuez will be the book keeper for two non syndicated variable rate eight years and 20 day tranches of 320 mln francs each issued at par
this restrictive policy also gave rise to smuggling and hampering of exports he said that to correct this situation 136 items had freed from import restrictions
private industry export officials have met periodically with lyng to discuss farm policies and the export situation
april gasoline was 028 cent higher at 5315 cts a gallon
comparisons are therefore company calculations
but this is the first international aid package for trc which also carries cargo for uganda zaire and burundi
in the northern territory it has a 4375 pct stake in and operates the mereenie oil and gas field in the amadeus basin and owns 32 pct of nt gas pty ltd owner and operator of the alice springs to darwin gas pipeline
us officials had been meeting on a response since friday when an attack on a kuwaiti port severely damaged a us flagged ship
in an article in mondays edition of the miami herald baker also criticised the concept of short term debt relief calling it a dramatic overnight solution while these ideas may be well intentioned and have some political appeal they are impractical and counterproductive in the long run he said
the texas weekly usda state crop report said stormy winter weather limited fieldwork before conditions improved later in the week
bundesbank bought dollars against yen in frankfurt dealers
us trade bill very dangerous for canada lobby
national beverage which is also privately held owns and bottles shasta beverages spree all natural beverages and private label brands in its 11 bottling facilities in the united states
but several believe that rates will now consolidate before edging up in late spring early summer
when this is done we have said we are interested in taking over a 30 pct share in the field statoil spokesman willy olsen told 
nasds board of governors said it denied the application of knapp to become registered with ka knapp and co located in grand rapids mich
international transactions of non banks again led to a significant inflow of funds the bundesbank said
the third identified becor suitor is davis mining and manufacturing inc in fairfield nj lynch said its latest proposal calls lynch to own 75 pct of becors stock and becor holders to retain the other 25 pct
the banking firm said the non performing status of these loans cut first quarter net by 17 mln dlrs
volcker says more stimulus abroad needed for adjustments in trade balances
network said it is taking the charge due to the significant increase in accounts receivable which remain uncollected for more than 90 days after billing
the us plan calls for loans from multilateral banks like the iadb to be tied to economic reforms in debtor nations which would promote open markets reduced government intervention and inflation free economic growth
the western financial units securities have an average life of 14 years and mature march 1 1990
nz plans eight 250 mln dlr 1987 88 bond tenders
grazing lands are parched and the region was unable to produce 117000 tonnes of silage projected in its annual plan
it affirmed bakers prime 2 commercial paper
the investment in one of wall streets top brokerage houses is likely to pay off in dollars and international market position they said
well production will be royalty free for five years with initial allowable rates expected to be in the range of 150 barrels a day the company said
shell canada sees better profit lower spending
bank of ireland launches us paper program
krupp gmbh krpgd steel and engineering group said it had a satisfactory 1986 despite a provisional 12 pct fall in total group sales to 181 billion marks from 207 billion the previous year
the renegotiation conference under the auspices of the un conference on trade and development unctad is the fourth such meeting in two years
kato told reporters after a cabinet meeting all topics ofconcern to the us will be discussed such as trade in beef and oranges and import controls on farm products
he said he could not determine the figure unless the shareholders decide in favor of dissolution
gc goh chief dealer of the standard chartered bank said prime rate increases by citibank and chase manhattan bank to 7 3 4 pct from 7 1 2 may prompt hong kong banks to follow suit
france voiced its comprehension for a us attack on an iranian target while calling for a swift halt to the gulf war to avoid further escalation
davis water and waste industries inc said its board declared a 33 1 3 pct stock dividend payable march 23 to holders of record march 12
generally the bills provisions toughen us enforcement of trade laws
chrysler c unit sells notes at 7 5 8 pct
one really cannot expect a positive conclusion to todays talks the source added
allied has 50 mln dlrs of debt outstanding
the national australia banks hong kong branch is planning a 75 mln australian dlr floating rate certificate of deposit cd issue banking sources said
no formal offers had been made but catto would not elaborate
earlier metromail reported fiscal 1987 third quarter earnings of 24 mln dlrs or 25 cts a share versus three mln dlrs or 32 cts a share the prior third quarter and nine months net of 72 mln dlrs or 76 cts a share versus 78 mln dlrs or 82 cts a share the prior nine months
overall gms share of us car and truck sales should fall to around 38 or 39 pct in 1987 from 41 pct at the end of 1986 analysts said
dnc international issues 10 billion yen bond
winds gusting to 45 mph caused four to six foot waves along the western and southern shores of lake michigan during the morning
sams a low risk high return player is he trying to build a major industrial chemical enterprise or is he trying to be an investment bank rose said
but the drop was much smaller than expected after gulf exports rallied in the fourth week of february to 25 mln bpd from 12 mln in the third week the sources said
consumer delegates said they had not been prepared to accept the producers offer to abandon quotas if it proves impossible to find an acceptable basis for them
they said saudi arabia was also selling oil from its crude oil stocks in tankers around the world which opec says must be counted towards a members production quota
berkshire gas co bgaso raises payout
pearson shares were down 4p to 567 after the announcement
a portion of the proceeds will be used to acquire all of the outstanding capital stock of network switching systems inc
fleet has established consumer banks in the southeast and is known as an innovator in securitization of mortgages
banca monte di parma issuing eurocertificates
the group ended the year with a cash surplus higher at 54 mln stg compared to 26 mln previously after capital expenditure which rose to 54 mln from 43 mln
net rate on the preceding issue end february was 998 pct
he said that the extension of the short term lines would not be carried out through an official instrument as there was not time to complete the legal requirements
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
qtly div 17 1 4 cts vs 17 1 4 cts prior pay april 15 record march 31
key members of the house agriculture committee have agreed to scale back the 0 92 provision of a pending disaster aid bill to cover only 1987 crop wheat but a broader 0 92 proposal is likely to be resurrected later congressional sources said
weizsaecker calls for easier argentina debt terms
although the full time farm population is falling and there are signs the ldp is paying more attention to urban constituencies the ruling party remains heavily dependent on farm votes in the rural areas
mcdermott mdr unit gets plant contract
since that time it has sold two small retail operations closed and consolidated five domestic footwear factories and closed about 15 retail locations
telecom said 52 mln dlrs of 1990 bonds and 10 mln dlrs of 1993 bonds are already on issue
kingdom of sweden is issuing a 100 mln stg bond due april 15 1997 carrying a coupon of 9 1 2 pct and priced at 101 1 4 baring brothers and co ltd said as lead manager
quebec housing starts fell in february to 2191 a four pct drop from last year when growth in quebec housing starts was among the highest in the canada the canada mortgage and housing corp said
park communications inc parco 1st qtr mar 31
non redeemable to maturity the notes will be issued only in registered form and in minimum denomiations of 100000 dlrs
norcros breaks off merger talks with williams
fiscal 1988 primary earnings per share are projected to be 76 cents based on about 378 mln in post recapitalization common and common equivalent shares outstanding
braverman said historical evidence suggests that a long bond yield in the 793 pct area provides a basis for optimism
ual inc citing company policy told the new york stock exchange it would not comment on the unusual rise in its stock
that of cpo remained at 6178238 ringgit
debartolo corp have closed on their previously announced purchase of five of the regional shopping centers of allied stores corp
prime lending rate is now 875 pct and deposit rates vary between 325 and 575 pct
the green coffee market saw some demand for high quality coffees in the past week but business was described as generally unsatisfactory trade sources said
cyprus minerals co said along with about 40 other companies it has been named a defendant in 23 product liability lawsuits filed in california by individual tireworkers aleging injury as a result of exposure to talc and other products
we are not going to go the imf he said
some 40 miners were trapped underground today by a fire in a copper mine in the gaspe area of eastern quebec officials said
isuzu motor ltd isumt will pay no dividend for the first half year ending april 30 1987 as the company is expected to mark a 12 billion yen parent company current loss in the first half due to slow exports caused by the yens appreciation a company spokesman said
the only british gold coin available at present is the sovereign which contains 02354 ounces of gold
however hall said that only about 36000 jobs had been lost in the region while more than 600000 new jobs were created during the period
shr loss 17 cts vs loss 19 cts net loss 213000 vs loss 217000 sales 6788000 vs 6254000 year shr loss 22 cts vs loss five cts net loss 270000 vs loss 61000 sales 270 mln vs 270 mln
international consumer brands icbio 1st qtr
goldman sachs co managed the deal which was increased from an initial offering of 100 mln dlrs because of investor demand
group lifts stake in smith international sii 
mexico is also due to make the third drawing from its international monetary fund standby credit in the next few days based on a successful review of end 1986 economic results
he said even a more moderate proposal to reduce sugar price support is unlikely to be approved
the talks were the first high level international review of the monetary situation since the accord last month reached by the us west germany france britain japan and canada to stabilise world currency markets at around present levels following the 40 pct slide in the dollar since mid 1985
it had opened here at 14185 yen
danaher corp said it expects higher earnings in 1987 versus 1986
foreign banks have contributed to the cash crisis by holding up remittance of ugandas hard currency earnings from coffee exports the government newspaper new vision said
foreign business and securities trading turnover also increased
the 500000 strong unitary workers front fut and the 100000 member general union of workers ugt called the strike to cancel the measures which include a rise in petrol prices of up to 80 per cent and budget cuts of as much as 10 per cent
balladur on sunday rejected press and opposition charges that the share prices for privatised companies had been pitched too low
shr profit one ct vs loss 14 cts net profit 279000 vs loss 1896000 sales 1996 mln vs 1424 mln
marathon raises crude posted prices 50 cts a bbl effective today wti at 17 dlrs bbl
but he added if the issue of rice is to be raised i would mention the feelings of the japanese people japanese politicians have said repeatedly the country cannot bow to us pressure to liberalize rice imports because the issue is too sensitive
sales in 1986 87 are seen at 2150 billion yen down from 2685 billion a year ago
uk cross field prt relief favours smaller fields
the mild winter and early reopening of the mid mississippi river this spring have also encouraged the firmer trend in barge freight dealers noted
the redemption price will be 107179 pct of the principal amount plus accrued interest the company said
the second tranche of 15 billion francs will be denominated in 5000 franc units and carry an 850 pct coupon payable december 14 each year
shell canada shc to sell tankers to socanav
he intends to push separately a bill to protect the domestic textile and shoe industry an aide said
shr 22 cts vs 24 cts net 2794000 vs 2993000 revs 914 mln vs 664 mln six mths shr 45 cts vs 39 cts net 5677000 vs 5700000 revs 1746 mln vs 1328 mln note 2nd qtr end august 31
he said last weeks hiccup in money and currency rates and bond and stock prices was probably caused by japanese window dressing for march 31 end of fiscal year accounts
the speaker of the iranian parliament hojatoleslam akbar hashemi rafsanjani warned the us not to intervene in the gulf a day after washington said its warships were available to escort kuwaiti tankers through the waterway
versar said the acquisition should have a moderately favorable effect on its earnings this year
the french treasury will issue between eight and 12 billion francs worth of tap stock depending on market conditions at its next monthly tender on thursday banking sources said
air canada widely expected to be privatized later this year in a public share offering lost 148 mln canadian dlrs on revenues of 272 billion dlrs in 1985
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
period ended may 31 shr 42 cts vs 53 cts net 13600000 vs 17100000 revs 2633 mln vs 2438 mln
during the last week of april silver futures often traded at the daily allowable limit amid concerns about inflation the dollar and other factors
emerald made its initial public offering february 6
translated from philippine pesos at 203489 pesos to dollar vs 185571 in quarter and 202315 vs 182743 in year
april 30 end oper shr 20 cts vs 19 cts oper net 4625000 vs 6781000 sales 2502 mln vs 1509 mln orders 3515 mln vs 1225 mln 1st half oper shr 29 cts vs 26 cts oper net 7453000 vs 120 mln sales 4411 mln vs 2556 mln orders 5766 mln vs 2211 mln backlog 8483 mln vs 4592 mln note prior year net excludes losses from discontinued operations of 329 mln dlrs in quarter and 357 mln dlrs in half
ge recorded net earnings for the first quarter 1987 of 624 mln dlrs or 137 dls per shr up 16 pct from 537 mln dlrs or 118 dlrs per share for the same quarter a year ago
i think if were talking about dropping the quota another half mln tons lets say youre getting to the point where the program might not work he said
central american economic ministers have estimated the region will lose 720 mln dlrs in foreign exchange earnings in 1987 if coffee prices are not rescued by a quota arrangement martinez said
bankamerica corp may place its long term loans to brazil on nonaccrual status if brazil continues to defer interest payments on the loans the bank holding company said in a filing with the securities and exchange commission
ventra buys joint venture leasing
banco di roma london branch has a certificate of deposit program in the market under which the securities are traded
the higher guilder is causing a substantial fall in unit labour costs abroad when measured in guilder terms while these are rising slightly in the netherlands the cpb said
derlan industries ltd said it acquired 80 pct of aurora industries inc of montgomery illinois for an undisclosed price
of a total of 745 billion dlrs debt outstanding only some eight billion had been swapped into another currency
most japanese politicians including finance minister kiichi miyazawa are clearly hoping the yen will weaken government officials said
he said the firms function has evolved into one primarily of strategy structure and financial and personnel policy he said jardine matheson will reduce the size of the board of directors but will simultaneously create a new pacific regional board
changes in the us cotton program also could lead to increased acreage analysts said
aep industries inc aepi 1st qtr jan 31 net
these talks come at a particularly delicate time for the japanese government which is facing increasing domestic pressure to abandon its tight fisted fiscal policy and stimulate the sagging economy by spending more
mclean said the minimum lease payments will be seven mln dlrs and estimated revenue participation during the first four years at about 16 mln dlrs
the last working face assayed 0422 ounce of gold per ton across 85 feet and the drift will be continued eastward from that point the company said
allegheny internationals statement did not name or describe the first boston affiliate involved in the agreement
it quoted chairman simon keswick as saying jardine matheson achieved the good performance through satisfactory results in most sections especially hong kong land co ltd hkldhkg jardine fleming co ltd and its business in japan
cattle slaughter is guesstimated at about 123000 to 126000 head versus 123000 week ago and 121000 a year ago
kuwait is better placed than any other opec country to ride out the oil glut bankers and economists say
merrill lynch capital markets said it received a mandate from industrial equity ltd iel of australia to arrange a letter of credit facility in support of 100 mln dlrs of medium term notes and us commercial paper to be sold in the us domestic market
div and bonus reg may 1
the remainder will fund capital expenditures for additional restaurants and for general corporate purposes
bahrain introduces new money market regime
nwa inc 4th qtr shr profit 45 cts vs loss nine cts
oppenheimer and co a new york brokerage firm said it raised its stake in viacom international inc to the equivalent of 2709600 shares or 77 pct of the total from 2232400 shares or 63 pct
a finance ministry official who was directly involved in monetary talks with other nations also said the us would never attempt to lower the reference range for the dollar against the mark or the yen
not only the official statistics for the fourth quarter but evidence of a pick up in orders from overseas for paper products chemicals high tech goods and capital goods show that trade is improving benderley said
american motors amo extends incentive program
malaysia raises palm oil export duties
rexnord said the rights will be redeemed because it is expected its shares will be tendered under a january 30 takeover offer from banner acquisition corp
usair stock soared after twa made public its offer
international multifoods corp said it filed a suit charging bregman partners and its affiliates unlawfully planned to acquire control of the company
tmoc said in the statement that the bid was unsolicited and that santos had only a 307 pct stake despite paying up to four dlrs a share on market
tehran radio monitored by the bbc quoted a foreign ministry spokesman as saying any attempt at interference would be met by a strong response from iran and other moslems in the world us defence secretary caspar weinberger in remarks apparently unrelated to the broadcast said the us would do whatever was necessary to keep shipping lanes open in the face of new iranian anti ship missiles in the gulf
house speaker jim wright predicted passage of legislation requiring the reagan administration to provide congress with a report on its mideast gulf policy but a last minute revolt by an alliance of liberals and conservatives left the bills fate in doubt
sugar prices too low to boost latin output
payment is march 26
period ended april 30 shr profit nil vs loss eight cts net profit 4000 vs loss 213000 sales 3668000 vs 2602000 year shr loss 18 cts vs loss 23 cts net loss 482000 vs loss 614000 sales 125 mln vs 136 mln note 1987 earnings in each period include a provision for unrealized loss on marketable securities of 176000 dlrs
the three year issue which matures april 9 1990 is in two tranches
the maturities range from 28 to 364 days and denominations will be 500000 and one mln dlrs
investments were reduced to 108 mln marks from 125 mln
this is a clear indication that we are entering a difficult phase as regards our external debts and it is imperative that we raise the rate of domestic savings and rely less on foreign sources to finance our development he said
precision target marketing ptmio 4th qtr net
analysts computer industry executives and the company itself have highlighted the external economic factors hampering ibms growth
passport travel inc ppti 1st qtr feb 28 net
a basket is a local measure equal to 46 lbs
shortly before auction time on the new bills the rate on the outstanding three month bills was unchanged at 564 pct bid while the rate on the six month bills was one basis point higher at 568 pct bid
alza aza plans debenture offering
economists have been banking on an improved trade performance this year to stimulate an otherwise sluggish canadian economy
indonesia oil contract negotiations end this month
general accident fell 21p to 936 royal insurance dropped 18p to 966 and prudential fell 9p to 888
coca cola enterprises cce sells debt
new montreal newspaper folds
us corn market skewed by soviet buying
however he said opec in december had anticipated that demand would be slack at this time of year for seasonal reasons and expected the market to firm in two to three weeks
olson said he is very pleased with the companys efforts so far to cut costs
world closing stocks of primary zinc at smelters excluding eastern bloc countries fell 7700 tonnes in february to 459100 tonnes from 466800 revised from 449600 in january compared with 403700 in february 1986 provisional european zinc institute figures show
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
sanford corp sanf 1st qtr feb 28 net
quaker oats co said it filed a shelf registration with the securities and exchange commission covering up to 250 mln dlrs in debt securities
the company also said it has acquired north country media group a video productions company
the notes will bear an interest rate of seven pct for one year from april 20 1987 rising to 750 pct until april 1989 and an eight pct rate thereafter
snyder said it may boost its stake or sell some or all of its current holdings
inc
over the past year several other leading non opec producers including the soviet union mexico china malaysia and egypt have also pledged support for opecs bid to keep prices stable
shr loss eight cts vs loss 20 cts net loss 469000 vs loss 1104000 revs 3093000 vs 3056000 nine mths shr loss 19 cts vs loss 29 cts net loss 1098000 vs 1646000 revs 9562000 vs 122 mln
mills consumed 29600 tons of refinery shapes in january versus 24000 tons in december
nivison and co
it said its dealings in certron were for investment only but said it might increase its stake
a turkish research ship escorted by warships and air force planes left for the aegean to press ankaras case in an escalating row with greece over oil rights the semi official anatolian news agency said
total export volume fell 12 pct quarter on quarter in october december
usair said receipt of the 9309394 shares which is also the minimum amount it will accept would give it a total of about 61 pct of piedmont shares currently outstanding and 501 pct on a fully diluted basis
the national strike headquarters in rio de janeiro said seamen were offering to resign in all the countrys main ports
traders also said end users now would buy as much as possible on term contracts and buy spot only when the market cooled from its initial reaction to the opec agreement
the official tanjug news agency quoted zemljaric as saying yugoslavia expected a definite measure of understanding from 16 western creditor countries when they meet on march 30
we must face the fact that greater flexibility in devising new money packages may in effect be essential to future bank syndications mulford said
drexel burnham lambert inc is acting as dealer manager for the offer the companies said
denmarks net official reserves rose to 3634 billion crowns in february from 2800 billion in january against a revised 4585 billion in february 1986 the central bank said in its monthly balance sheet report
the selling concession is 1 1 4 pct while management and underwriting combined pays 3 4 pct
st
smith expects the company to earn 825 to 850 dlrs a share in 1987 as compared to the 706 dlrs a share earned last year
as the issue is basicly political a solution can only be found by bilateral negotiations the statement said
southern railway co a unit of norfolk southern corp nsc will hold accept bids on wednesday for 20 mln dlrs of serial equipment trust certificates
weizsaecker speaking at a reception held for him by president raul alfonsin at buenos aires city council hall also said no one could overlook the enormity of the obstacle posed by the foreign debt to countries like argentina
this brought total exports for the first two months of 1987 to 667 billion rand and imports to 415 billion for a total surplus of 252 billion rand against 171 billion a year earlier
harleysville group inc said it was in talks to acquire atlantic mutual fire insurance co a property and casualty insurer licensed in five southern states
brazil not selling to cocoa buffer stock trade
pembina resources ltd year net
taking a dissenting view the diw institute of west berlin and munichs ifo institute predicted only one pct 1987 growth
the current account showed a 52 billion guilder deficit on invisibles compared with a balance in 1985 the finance ministry said noting the surplus on transport services was reduced substantially due to the lower dollar and oil price falls
this followed the imposition of penal lending rates of 11 3 4 pct on the discount houses yesterday and was the lowest since base rates were at 10 pct early last october
theyve also begun to realise that you cannot legislate solutions to a 170 billion dollar trade deficit so they are more realistic and in my judgement more responsible on that issue than they were 12 or 18 months ago he added whether that will be reflected in the legislation that eventually emerges is another matter
that could bring new rain patterns across the corn belt and assure good crop conditions as early developed corn moves into the crucial pollination stage in early july he said
trade banner 30000 long tons grain usg morocco 1350 dlrs 5000 5000 end april early may comanav
cable and wireless has a 20 pct stake in one of the two companies involved in the mooted merger
quoting customs figures the paper said exports fell to 175 billion dlrs from 184 billion and imports fell to 206 billion from 23 billion
he said there were already signs that a slow recovery from recession was under way in the oil and gas industries
spartech corp sptn 1st qtr jan 31 net
economists said foreigners also were being attracted by south africas long term government bonds and semi gilts or securities in partly government owned firms many with yields as high as 30 pct
pentland said it has not chosen to participate in this over allotment
but theyre not out of the woods yet he added
the agreement extends a standstill arrangement expiring june 30 that has been in place since august 1985
the company said mcc shareholders would have a 25 pct stake in the combined company and would receive a cash distribution of about 35 cts per share
market sources said the cut reflected the recent easing in market interest rates
the national association of securities dealers inc
corning glass works said it bought a 50 pct interest in technology dynamics inc a woodinville wash company involved in research and development of fiber optic sensors
he said the companys 50 pct unit hongkong united dockyard ltd is negotiating with the government for the development of an existing petroleum storage depot into a major housing estate
sindt however did not rule out the possiblity of implementing more minor changes in its pricing system
once the sale is completed the units name will change to first american bank of texas
the same divergence was made in full year dividend with unilever nvs rising 34 pct to 1533 guilders and unilever plcs increasing 299 pct to 5017p approximately in line with the change in attributable profit
sources would not say which field statoil is considering
current competitive prices for us corn have also sparked soviet buying
heavy enrollment of non base acreage in wheat states of which a big percentage would be fallow and non soybean land accounted for a large portion of the non program acreage the analyst said
doe said that before making the pact final it modified it to reflect shells compliance with the tertiary incentive program a provision not in the version published last dec 31
the joint venture to be 51 pct owned by raision tehtaat and 49 pct by polysar will build a plant at anjalankoski east of helsinki to produce carboxylated styrene butadiene latex
in an interview with lyng also said the reagan administration will ask tokyo to remove its quotas on us beef and citrus exports
the weighted average yield for 50 mln nz dlrs of 77 day treasury bills sold in this weeks regular weekly tender was 2497 pct the reserve bank said
juan lechin oquendo the veteran secretary general of the bolivian labour organization cob told reporters i am joining the fast to abide with our call for a hunger strike lechin 83 became one of 12 cob leaders to join a hunger strike to protest against the austerity programme of the government of president victor paz estenssoro
the spokesman said mannesmann had a letter of intent on the takeover from the heirs of the companys late owner but completion has been delayed by legal questions concerning the inheritance
argentina seeks new debt deadlines official says
federal funds were trading at 6 3 16 pct at the time of the indirect injection of temporary reserves
each two warrants allow the purchase of one share at two dlrs
the statement confirmed dome received transcanadas bid but did not identify the companies involved in talks
year to december 31
it said on december 31 1986 its nonperformind brazilian outstanding debt totaled about 41 mln dlrs
bankers trust co bt which also quotes its broker loan rate publicly raised its rate to 7 1 2 pct earlier today
in order to renovate the crowded financial futures pits exchange officials have discussed providing them a temporary home next door in the present grains dominated area
industrial valley has assets of about 376 mln dlrs and was acquired last year along with ivb financial corp
the officials will discuss linking rubber markets in the four countries to improve price transparency the sources said
australian unemployment rises in march
they expect it to supply the reserves indirectly by arranging 15 to two billion dlrs of customer repurchase agreements
we believe their action is inappropriate in view of the stability we are experiencing in the market the realization of the anticipated improvements in our steel operations and our current liquidity level the company said
us 1987 cotton sorghum acres estimated all cotton 10353700 sorghum 11844000 usda
monfort of colorado inc 2nd qtr shr 103 dlrs vs 134 dlrs
stephens said he had no specific list of changes
the managements doing a very fine job in trying to deal with the non strategic assets of the company rose said
phelps dodge the largest us copper producer last year paid 240 mln dlrs for columbian chemicals co which makes carbon black used in rubber and tires
average daily reserves over the first 20 days of the month fell to 526 billion from 531 billion
at the intermediate stage liquefied petroleum gas prices rose 101 pct last month after a 50 pct january rise and were 410 pct below prices a year earlier the department said
it also announced an increase of five cts per pound for performance grades of the resins
japans ex im bank announced a 900 mln dlr untied credit last month
the rights will be exercisable only if without reichholds prior consent a person or group a acquires 20 pct or more of the voting power or announces a tender offer which would result in 20 pct ownership the company said
french government names advisers for soc gen share sale
as a result milder temperatures inflate the statistics
net is after tax 173000 dlrs vs 285000 interest 967 mln vs 805 mln and depreciation 1176 mln vs 959 mln
the figures cover around 95 pct of rotterdam traffic in the products concerned
stoltenberg is due to attend a routine bundesbank meeting on thursday in west berlin
the suit filed in manhattan also names first boston corp fbc and seeks to void the issue by harcourt of 40000 shares of super voting preferred stock to first boston securities corp and the issue of convertible voting preferred stock with 4700000 votes in the harcourt employee stock ownership plan
completion is subject to rockwood shareholder approval
barclays de zoete wedd ltd said it today began market making in japanese convertible eurobonds denominated in dollars
gillettes stock was at 24 1 8 up 1 8 in morning trade off the high of 45 7 8 reached after revlon announced its bid
while the industry may not be able to compete in all domestic markets that it enjoyed twenty years ago the results of our research indicate that portions of the domestic market can be recovered and that exports can be expanded kelly said
moodys investors service inc said it may downgrade 215 mln dlrs of debt of caesars world inc and its unit caesars world finance corp
today us energy secretary john herington said he will propose tax incentives to increase edomestic oil and natural gas exploration and production to the reagan administration for consideration
they have an aggressive buying campaign from the european community from canada from the us theyre active buyers from all sources at this point the official said in explaining why the department raised its soviet grain imports estimate today by three mln tonnes to 26 mln tonnes
in a filing with the securities and exchange commission the wendel group said it bought 54000 zondervan common shares between march 24 and april 3 at prices ranging from 2787 to 2996 dlrs a share
sun city industries inc said preliminary unaudited results of ongoing operations for the fiscal year ended january 31 1987 are expected to rise over 580 pct to 700000 dlrs or 70 cts per share from the 125313 dlrs or 12 cts reported last year
note div pay may 8
central bank president jose luis machinea said argentina could adopt the same posture as brazil and suspend payments on its foreign debt if it failed to meet creditor bank demands
oper shr one ct vs two cts oper net 30000 vs 62000 revs 2315000 vs 2355000 year oper shr four cts vs nine cts oper net 95000 vs 204000 revs 9214000 vs 9950000 avg shrs 2492000 vs 2351000 note full name is arden international kitchens inc more
rexnord inc said it will redeem all of its preferred stock purchase rights for 10 cts a right effective today
the company said it did not know if it would pay regular dividends in the future
the result brought year on year inflation to 2036 pct compared with 2265 pct at end march 1986 and 1977 pct for the year ending february 1987
the finance ministry is still asking financial institutions to limit speculative dollar dealings finance minister kiichi miyazawa told reporters
the us treasury said it will auction 17 billion dlrs of 9 day and 20 day cash management bills on april 2
the company said the suit filed in us district court for the southern district of ohio seeks a temporary restraining order and preliminary injunction requiring dixons for 10 business days to permit any cyclops shareholder who previously tendered and now wishes to withdraw to do so
the south african sanctions law enacted by the united states to protest the apartheid laws of racial segregation practiced by south africas white minority government prohibited imports of uranium ore and oxide iron and steel coal and textiles at the end of 1986
fortune said the agreement is subject to regulatory approval
prior nine mth net includes 34 mln dlr asset sale gain
as reported yesterday qintex said about seven mln princeville shares had been tendered in response to the offer
conagra inc cag 3rd qtr feb 22 net
no reason was given for the recent purchases
this is the fourth such conference in nearly two years
on trade issues rostenkowski said he did not expect the major trade bill this year would single out any us industry for special protection
shr loss 648 dls vs profit 23 cts net loss 1106 mln vs profit 41 mln revs 740 mln vs 1520 mln year shr loss 652 dlrs vs profit 387 dlrs net loss 1112 mln vs profit 642 mln revs 5010 mln vs 7760 mln
calstar inc said it entered a new term loan agreement with national city bank of minneapolis
the first would limit the current quota system which has protected ec output for seven years only to flat products and heavy sections thereby forcing other types of steel products into free market competition
he said the turkish research ship sismik 1 escorted by an unspecified number of warships would sail into disputed waters in the aegean sea tomorrow morning
the company said the investment was made pursuant to an option searle held and increases searles stake in medicontrol to 198 pct with a total investment of one mln dlrs
the port of singapore authority psa will spend 12 billion dlrs to develop port facilities and cargo handling equipment over the next five years communications minister yeo ning hong told parliament
other proceeds will be used to pay underwriting costs the company said
but preston who did not attend the meeting between funaro and creditor banks yesterday added the onus is still on brazil to put its economic house in order first
robert cheadle analyst at montgomery securities said you have to ask yourself why no one in the industry made a bid scott drysdale analyst at birr wilson securities said the company has not made the best strategic moves over the years
earnings per share fell to 464 guilders from 548 in 1985 on turnover of 6278 mln down from 6626 mln
exports to bolivia chile ecuador and central america were also lower last year than in 1985 while shipments to brazil rose 115 pct to around two billion marks
anadarko petroleum corp said it filed with the securities and exchange commission a registration statement covering a 100 mln dlr issue of convertible subordinated debentures due 2012
csce to put additional margin on july cocoa
clark equipment co said it was informed by arthur m
discussing its major subsidiaries the company said that prudential capital and investment services inc the holding company for brokerage house prudential bache securities and certain other related subsidiaries earned 142 million dlrs in 1986
a rift has occured among philippine officials over debt talks opening tomorrow in new york with economic planning secretary solita monsod accusing the chief negotiator of softening his stand to gain a quick agreement
total dividend payout would rise to 1868 mln marks from 1420 mln on 1985 earnings due to the increase in the dividend and in equity capital it added
the fed funds rate was extremely volatile today reflecting demand pressure associated with the end of the quarter and the close of the japanese fiscal year
but i really think the chances of that happening are between slim and none he added
under the tender the company will repurchase the 10 5 8 pct notes at 111650 dlrs per 1000 dlrs principal amount plus accrued interest to date of payment
willis faber says it making agreed 3026 mln stg bid for stewart wrightson
brazil criticises advisory committee structure
poehl noted west germany had already taken steps to meet us demands for greater stimulation of its domestic economy accelerating tax cuts cutting interest rates and tolerating above target money supply growth
the major story will be a rebound in its mid range business he said sales of ibms mid range computers fell about 13 pct in 1986
greater world supplies of wheat heavier soviet purchase commitments and less competitive us wheat prices make soviet purchases of us wheat less likely he said
hal daub r nebr said the administration should push hard for greater beef imports by japan and south korea
canada december gdp up 12 pct after novembers 02 pct fall official
raimond expects ec gulf problems will be solved
term of the debt held by insurance company lenders will be extended by one year until december 1990 by reducing the principal due last year and this year
baker defending the strategy said private commercial banks have rescheduled nearly 70 billion dlrs in debt since october 1985 at longer maturities and lower interest rates
hanson said kaiser cement is now an indirect wholly owned unit of hanson trust and forms part of its building products group
the consumer price index base 100 for 1976 rose to 7720 from 7613 in february and compared with 7034 in march 1986
india to hold white sugar buying tender
the sources said italy which refused to join the paris pact was invited back by treasury secretary james baker
in fourth quarter 1986 reversion of pension plan surplus assets completed
trade sources said the actions being weighed by reagan include tariffs on a wide variety of japanese exports which use semiconductors
the sources said the measures were a further attempt to rein in money supply and were likely to force some institutions to scramble for funds before the 10 day accounting period for reserve requirements closes on monday
payment is due march 31
acquisition documents have been signed and are being held in escrow pending the receipt of certain consents it said
britain will from next autumn mint and market a new bullion coin called the britannia containing one ounce of 24 carat gold together with bullion coins of smaller denominations a treasury official said
on january 22 nabisco sold 500 mln dlrs of same maturity same rated sinking fund debentures priced to yield 862 pct or 107 basis points over the 9 1 4 pct treasury bonds
a major french bank said it acted for the central bank in buying between five and 15 mln dlrs against yen
shearson is dealer manager of the general partners offer for gencorp
prior year net excludes 1103000 dlr loss from change in accounting for textiles inventories
meanwhile protests from angry european farmers over successive attempts to scale down unwanted community food production appeared to be gathering strength
the american meat institute ame said it intended to ask the us government to retaliate against a european community meat inspection requirement
morrison inc morr 3rd qtr feb 28 net
first pennsylvania corp fpa 1st qtr net
the transaction will be accomplished by italfunding obtaining a 443 mln dlr euronote facility in the market and then using the proceeds to provide a loan for the same amount to mexico
the 9 day bills will be issued april 7 and mature april 16 while the 20 day bills will be issued april 3 and mature april 23
fairchild is owned by schlumberger ltd slb brooks also told a press conference that if management is successful it may later attempt to take the company public
traders said the figure was toward the upper end of expectations and may provide slight downward pressure because of recent sharp gains in futures
it said proceeds would be used to reduce indebtedness
we have a budget driven farm policy
however the el nino has resulted in a much improved supply of irrigation water in the major dams which will improve prospects for many crucial crops such as rice and corn and slow the decline in sugar production it said
bahrains issue of two mln dinars worth of 91 day treasury bills was allotted at an average price of 98506 to yield an average 600 pct a spokesman for the bahrain monetary agency bma said
the issue is rated a top flight aaa by standard and poors corp
south korea will cut import taxes on 50 items including construction equipment photographic film cigarettes and pipe tobacco to help reduce its trade surplus with the united states the finance ministry said
planning minister gonzalo sanchez de lozada told that bolivia was hoping for five to six billion dlrs in new investment over the next 10 to 12 years
heinz interested in buying guinness brewing
amoskeag bank amkg to seek rehearing
he said china performed very well in the export field last year and remains a very creditworthy country which will have few difficulties in increasing its borrowing
a separate 245 pct import tax on crude oil is unchanged
some dealers said there were growing signs the united states wanted the dollar to fall further
the 37635 deadweight tonnes bulk carrier cumberlande which sank in the south pacific last friday was carrying a cargo which included lead as well as magnesium ore a lloyds shipping intelligence spokesman said
uk credit policy seen steady despite bank data
4th qtr ended jan 31
he said the fcl offer was better than amcors because it would have been made to all nzfp shareholders but he gave no further details
according to filings with the securities and exchange commission mark iv owns at least 176 pct of bairds stock and may attempt to acquire baird baird said
we want the un peace initiative to work if theres any chance at all he said adding that the action made it clear tougher steps would follow if iran to attack gulf shipping
feds heller says he wants to see stronger japanese demand for american goods
pakistans trade deficit narrowed to 264 billion rupees provisional in february 1987 from 285 billion final in january and compared with 294 billion in february 1986 the federal bureau of statistics figures show
it closed the three month review period down more than 11 pct against the mark and most other continental currencies and seven pct lower against the yen and sterling
pearson plc psonl yr ended dec 31
the companys so called pathfinder prospectus gives all the details of its stock market flotation except for the price at which shares will be offered
two farm state congressmen pat roberts r kan and glenn english d okla said cargo preference makes us farm export programs more costly and the program should be eliminated
tanzania will recieve a 23 mln dlr ida loan to help rehabilitate its telecommunications network the bank said
he added that it was difficult at present to determine an exact time frame for any possible moves
ruding told a meeting of the world trade forum here that protectionism would naturally lead to retaliation and aggravate the problems of heavily indebted developing countries
in a newspaper advertisement the company said the offer proration period and withdrfawal rights will expire april one unless extended
world coffee export quotas the major device used to regulate coffee prices under the international coffee agreement were suspended a year ago when prices soared in reaction to a drought which cut brazils output by nearly two thirds
getty petroleum corp said its board declared a five pct stock dividend payable on april 21 to shareholders of record april 10
nicaragua romania paraguay lose trade rights
1987 includes gain on disposition of investments of five dlrs in 3nd qtr and 7052 dlrs in nine months
the deficit compared with a deficit of 176 billion dlrs in february 1986
the acquisition had been opposed by some depositors who filed an action to block the takeover
first interstate i debt downgraded by s p
canadian roxy petroleum ltd said a new oil discovery in the peerless lake area of north central alberta is capable of flowing at over 1000 barrels of oil a day from a lower zone and more than 1500 barrels a day from a separate upper zone
taiwan needs a fundamental restructuring of foreign exchange controls said an executive with a western bank
these numbers contain no hint that a policy shift is in prospect nor do economic or financial developments argue for policy change said william griggs of griggs and santow inc
citibank na is issuing up to 50000 currency warrants that give the holder a call right on us dollars from marks or yen citicorp investment bank ltd said as sole manager
canadian liquid plus short term assets rose 20 mln dlrs to 3796 billion dlrs and total canadian dollar major assets of the chartered banks fell 753 mln dlrs to 22905 billion dlrs
the government wants to reduce the rate to eight pct this year
trade with the us in 1986 rose 23 pct for exports and 12 pct for imports in dollar terms but fell 13 pct for exports and 21 pct for imports in yen terms
he said mercury communications ltd a cable and wireless plc cawll subsidiary was becoming a significant competitor
equatorial said it would grant contel an option to buy about 3600000 common shares at 325 dlrs each
this years target of 20 pct might be attainable but the economic management will have to be careful he said
german gnp figures publication delayed
franklin high yield tax free sets payout
the conversion feature of this issue is the new wrinkle
the convertible offer would be on the basis of four williams convertibles for every norcros share worth 428p a share
the bank itself does not disclose information on intervention
analysts said it would be difficult for evergo and the kadoorie family to cooperate because of different management styles
the transaction is not expected to have any impact on earnings humana said
paradise said commercial bank lending agreements it entered into in june 1986 include retained earnings requirements that limit the amount of earnings available for distribution to shareholders
the writer corp wrtc 4th qtr loss
unit wage costs in uk manufacturing industry rose one pct in the year to april after an upward revised rise of 07 pct in the period to march the department of employment added
oper shr 504 cts vs 487 cts oper net 688000 vs 665000 revs 123 mln vs 107 mln note oper excludes tax credits of 559000 vs 537000
uk intervention board details ec sugar sales
there is an agreement the source close to the philippine delegation said adding that details would be announced at the press conference
it said interest and principal are payable in either new zealand or us dollars
there is not much trading of bank issues these days an underwriter said referring to the wider bid offer spreads
but they mostly agreed that saudi arabia will unofficially act as swing producer cutting production to compensate for higher output by other members or boosting output if spot prices rise too high too fast
most major us farm groups have lobbied hard against making any fundamental changes in the 1985 farm bill out of fear a full scale debate could expose agricultural problems to budget cutting pressures
lears aerospace group revenues for fiscal 1987 are expected to be about 700 mln dlrs said forstmann
japan long term prime seen cut to record low soon
trading will terminate on the last business day of the month preceding the delivery month
the daily auction was the biggest of the year and comes after the previous record set last june 6 of 1240 billion pesetas
co lead is pru bache securities
the payment date is may 7 and the issue is available in denominations of 5000 dlrs
i cant see the board consenting what has changed between november and now he said
the move drove short term interest rates sharply higher with overnight and tomorrow next funds more than doubling from last wednesday and hitting 20 pct
south african gold holdings rise in march
us sells 1 year bills at average 592 pct stop 593 pct awarded at high yield 80 pct
note 1986 qtr and year excludes investment gains of 1541000 and 1865000 respectively and 1985 qtr and year includes investment gains of 301000 dlrs and 1424000
ivory coast did not participate in the last international cocoa pact and its decision to join the new accord has sparked hopes that it will be more successful in supporting prices
zimbabwe exported 11000 tonnes of coffee in 1986 mainly to west germany britain japan the netherlands switzerland and the united states
werner chrobok managing partner at bethmann bank said german rates were among the lowest in industrial countries and around historical lows for west germany
it said it would consider alternatives such as restructuring
sandoz has not given any figure for claims which have been flowing in from switzerland and other countries bordering the rhine since the accident
houston oil trust said there will be no cash distribution to the unit holders in march
the warrant will be for a term of two years
nothing fundamental has changed with the company
shr two cts vs eight cts net 118933 vs 296272 revs 2742731 vs 1840129 six mths shr two cts vs 12 cts net 92372 vs 444975 revs 4977105 vs 3296110
debt among african countries will continue to grow and their economies remain stifled unless developed countries lower their interest rates nigerian trade minister samaila mamman said
the cut follows a trend toward lower rates started last month and accelerated by westpac banking corp which yesterday cut its prime to 1750 pct from 1825 pct
domestic investors did not believe interest rates would decline and stay at low levels for such a long time because expectations were determined by sharp interest rate fluctuations at the start of the decade
with the continued fall of the dollar against the yen 0speculation had arisen in currency markets here that japan might take new measures to support the us currency such as curbing capital outflows
in addition the company said it reduced prices by up to 29 pct for pre configured hp vectra systems used in specific applications
some market sources speculated an outside buyer such as general partners might even be be a catalyst to resolution of the challenges since it would carry out gencorps plan to sell the stations
but yesterdays statement by seven leading industrial powers endorses the yens rise from around 153 to the dollar the level at the february 22 paris accord to about 145 today
yield increases continue to be hampered by an insufficient supply of quality seeds along with pest and disease problems the report said
under the agreements conrac president paul graf would get a cash payment of twice his annual salary which was 209906 dlrs last year if there were a change of control in the company including acquisition of 30 pct or more of the companys voting stock conrac said
nynex nyn unit files to offer debt secutities
the company had said in december that it had been interested in acquiring corning natural gas
shr 98 cts vs 63 cts net 2602000 vs 1571000 loans 8348 mln vs 7290 mln deposits 104 billion vs 9421 mln assets 115 billion vs 102 billion
canada 91 day t bills average 695 pct making bank rate 720 pct
the japanese monetary officials said bakers undisguised pressure on west germany to refrain from guiding interest rates higher may be part of a process of multilateral surveillance or international economic policy coordination
1986 items include settlement of patent suit and provision for investment writeoff and 1985 item provision for loss on sale of scale business
oper shr 42 cts vs 41 cts oper net 2322000 vs 1785000 sales 723 mln vs 598 mln avg shrs 5527000 vs 4355000 year oper shr 148 dlrs vs 140 dlrs oper net 7637000 vs 5973000 sales 2617 mln vs 2247 mln avg shrs 5165000 vs 4277000 note 1985 operating net excludes gains of 1523000 dlrs or 35 cts a share in quarter and 5090000 dlrs or 119 dlrs a share in year from tax carryforwards
gencorp gy unit to sell los angeles tv station
during his visit de clercq has met top chinese leaders and today signed an agreement to open a european community commission office in peking
earlier today trans world airlines inc offered to either buy piedmont suitor us air or alternatively to merge with piedmont and us air
iran said to test fire silkworm missile in hormuz
greece repeats it can decide on aegean drilling
conrac says it is mulling restructuring or buyout as alternatives
montreal based unimedia is quebecs third largest newspaper group with three french language daily newspapers in quebec city ottawa and chicoutimi quebec and four printing plants in ontario and quebec
the full company name is koninklijke luctvaart maatschappij nv klmas klm released provisional figures on may 26
hemsley said the seaway authority plans to raise tolls on the welland canal by eight pct this year compared to last years 15 pct rise while maintaining a freeze on tolls throughout the rest of the waterway
its unusual one official said but added cipec did not have any immediate recipe to remedy the situation
the rights issue would have a theoretical value to shareholders of 140 swiss francs per bearer share and 45 per registered share
this the medium term note program will be the platform for developing those assets he said
trade sources said new regulations governing export rebates which are due to be adopted shortly may smooth the path for the commission to award larger export rebates in future
academy insurance group inc acig 4th qtr net
electromedics inc elmd year net
some of the rumors in the london markets were that the united states had launched an offshore strike against iranian missile installations
this is potentially a positive development a commodity source said
giant bay gbylf details gordon lake deposit
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
malhotra said the rate of monetary expansion must be kept under control in the second half of the current financial year
bsn corp bsn 4th qtr net
ergenc told later that all leave had been cancelled for members of the armed forces in the aegean coast area
export director carlos santana told reporters the saudis were the first suppliers of oil to impose such conditions after brazils decision to halt interest payment of its commercial debts last month
the transaction was conditioned on the arrangement fo financing by today
the committee also voted for legally binding quantity and quality requirements on the materials mostly metals
household finance sets 75 mln canadian dlr note
if an opportunity arises for us to strengthen our capital position quickly we would be very open to it the spokeswoman said
consequently we believe it is important to renew the us eep offer and do all that is reasonably possible to ensure mutual adherence to the terms of the us soviet grain agreement the letter said
union pacific unp raises crude oil prices
while predicting slightly stronger growth than last year however the report revises downwards the oecds earlier growth forecast for 1987 of 375 pct
nonetheless pro forma debt leverage of about 40 pct should decline within a year to about 35 pct because of proceeds from asset sales s and p said
the official briefing reporters on this weeks semiannual imf meetings said the issue would be discussed this week and the us had an open mind on the proposal but it did object to concessional interest rate relief
bank of new england said the notes will count as primary capital of the corporation
commerzbank ag cbkgf said a dividend of nine marks would be proposed for ordinary shareholders on 1986 earnings after eight in 1985
the session is expected to end on tuesday
the report looking at the countrys financial development prospects said italys large public sector deficit and growing public debt were among the considerations that made a gradual liberalization preferable
nch corp nch 3rd qtr jan 31 net
the april 13 sale to be evenly divided between the three and six month issues will result in a paydown of 1235 billion dlrs as maturing bills total 2555 billion dlrs including the 9 day cash management bills issued april 7 in the amount of 1101 billion dlrs
the real estate market remained strong and swire last year revalued its property portfolio up 634 mln dlrs compared with an increase of 8644 mln dlrs the previous year
st
the swiss banker said the economic indicators point to a further slackening of activity and called naive the belief that the five year boom on world equity markets will go on forever
the angry response of japanese chip makers yesterday to the announcement of the us tariffs highlighted the difficulties the government faces in taking further action
crane co cr 3rd qtr net
qtly div 165 cts vs 165 cts pay april 27 record april 20
oper shr loss 22 cts vs loss 13 cts oper net loss 1712916 vs loss 769539 revs 2292972 vs 2157895 avg shrs 7961602 vs 6200293 year oper shr loss 53 cts vs loss 45 cts oper net loss 3562151 vs 2543366 revs 9117311 vs 8251136 avg shrs 7169871 vs 618651 note current year net both periods excludes charge 430649 dlrs from cumulative effect of accounting change for patents
us t bond futures gained half a point in the few minutes after news that the us non farm payroll rose more slowly than earlier believed over the last two months dealers said
we take the current situation very seriously said the official who declined to be identified
australian january annual broad money up 103 pct
company also said it will increase dividend on post split shares to six cts from five cts
billiton and suralco owned by us conglomerate alcoa aas both want devaluation and lower wages welfare contributions taxes on bauxite and energy prices
there is little chance soviet exports to the united states will rise in 1987 but moscows current trade reforms should result in more trade in manufactured goods in future a soviet economist said
tax reforms have also gone into effect
the french treasury will issue between eight and 12 billion francs worth of tap stock depending on market conditions at its monthly tender on thursday the bank of france said
the company said its earnings per share for the third quarter on a pre split basis converts to 16 cts from 12 cts post split versus three cts pre split from two cts post split for fiscal 1986s third quarter
market talk suggested 11 dlrs had been paid for grain from the us north pacific to japan but no confirmation was available
consolidated tvx mining corp said it agreed to issue 78 mln treasury shares to acquire interests in three gold mining companies in brazil and an option to increase the companys interest in a platinum property
world demand for metals is growing slowly
sales rose 235 pct to 709 mln dlrs
diversified industries dmc to sell units
stanley said the companys stronger than optimal balance sheet will enable it to make further acquisitions but no negotiations are going on at the current time
in the year operating profit was 791 mln dlrs compared to a loss of 253 mln dlrs in 1985
he had earlier met federal reserve board chairman paul volcker and us treasury secretary james baker
robert halmi inc said it obtained a five mln dlr line of revolving credit from wells fargo bank available through february 29 1988
pegasus estimated that 1987 production at the zortman landusky mine will be about 80000 ounces of gold and 225000 ounces of silver
the non callable bonds are guaranteed by fuji bank ltd
a bundesbank spokesman said the central bank would have no comment on the reported remarks made at the private meeting
earlier it reported net income for the two month period of 231 mln dlrs of 151 dlr a share
but a probable rise in inflation late this year could give very slight grounds for a rise in nominal rates at years end and next year it said
the payment date is april 30 and the warrants are exercisable from may 14 1987 until april 23 1992
borden bn to acquire major pasta maker
non callable for five years the debt is rated b 1 by moodys and bb minus by standard and poors
the french have long wanted to control the imports of us corn gluten feed into the community saying that the imported feed was unfairly displacing european grain
ida the world bank arm which lends to the poorest countries said the projects are designed to increase agricultural productivity and farm incomes
sudan boosts budget cash for debt servicing
hubbard and reed chatted briefly with reynolds after the meeting but declined to discuss their proposal with reporters
nowak said his increased estimates come after the company told analysts yesterday that its first quarter earnings will comfortably cover its quarterly dividend requirement of one dlr a share
the letter said 54876 mln rupees were needed for a six month period at least until the may september yala rice crop was harvested
collins was not immediately available to respond directly to hawkins statement
we believe that this indicates good producer support for the new checkoff
it said the venture received grants and incentives from the government of thailand
operators have been extremely cautious about testing the dollars trading ranges against the west german mark and japanese yen
manufacturers inventories were up 05 pct to 27702 billion dlrs in january after falling by 03 pct in december to 27553 billion dlrs
de clercq talking to journalists during the meeting said there is a certain nervousness a growing impatience within the community concerning trade relations with japan the ec is not satisfied with japans inability to cut its trade surplus and the commission has adopted a tough approach on imports of goods such as japanese photocopiers where it has imposed 20 pct anti dumping duties
ecuador asked for the loan to guarantee domestic supplies and would ship an equivalent volume back to venezuela in repayment in may lusinchi said
payment date for bond and warrants is april 2 1987
i think 40 would be a minimum price
share split four for one
humana said the rights become effective after an entity acquires 20 pct or more of its outstanding common or tenders for 30 pct of its stock
poehl said west germany relied on exports for about one third of its gross national product so a substantial erosion of export markets could not be offset by increasing demand at home
earlier charter reported net income for the year of 1532 mln dlrs which included a gain of 285 mln dlrs for discontinued operations and 1148 mln dlrs for the settlement of claims in its reorganization proceedings
citibank said its reduction reflected the decline
japans custom cleared trade surplus narrowed to 161 billion dlrs in the first 10 days of june from 197 billion a year earlier the finance ministry said
the preferred stock has a liquidation preference of 50 dlrs per share and is convertible at any time into common stock at 55 dlrs per share subject to adjustment
at the end of february there was a total of 39 billion francs in bifs in circulation
first interstate bancorp chairman joseph pinola said the bank holding company would lose about 16 mln dlrs per year after taxes if it had to put its medium and long term debt on non accrual status
japans steel industry rationalisation plan is aimed at cutting production capacity sharply over the next few years
the closure was also a move to cut labour costs as no extra staff have to be employed during holidays to keep the plant open
the company also said its board named thomas burke president and chief executive officer
the current requirement is expressed in business days
the dollar opened at 18155 60 marks against 18187 97 in new york
us commerce secretary says export rise needed
the total includes 15 billion francs worth of 13 week bills and 25 billion francs of 24 week bills
the contract is being funded by britains overseas development administration as part of a total grant of 7365 mln stg to indias state owned hindustan zinc ltd
david wyss of data resources inc noted that imported manufactured goods prices rose 85 pct at an annual rate in the second half of 1986 which has contributed to rising us industrial output
western digital wdc debentures converted
subroto said that as he was not a member of opecs price differentials committee he did not know why the meeting had been postponed from its scheduled april 2 date
1st qtr feb 28 end shr 18 cts vs 13 cts net 1541000 vs 1122000 sales 397 mln vs 335 mln avg shrs 8517000 vs 8441000 note share adjusted for five pct stock dividend in august 1986
some said the makers were seen buying some 30 pct of their requirements estimated at about three mln tonnes for the three month shipment period
standard said its refined product sales also rose last year to 644500 barrels per day from 604200 barrels daily in 1985
s and p cited industry overcapacity and weak pricing conditions in fluors core businesses
pesch would not identify shareholders with whom he held discussions other than the bass family and the wedge group inc the only other holder of more than five pct of american medical stock
a group of firms led by hong kong based industrial equity pacific ltd said it acquired 969515 shares of triton oil corp common stock or 54 pct of the companys common stock outstanding
damon creations inc dni 4th qtr jan three net
asked if he had advised china to borrow more francs and us dollars and less yen leveque said he had not offered any advice but added the yen and the dollar are not stable but the ecu is stable asked if his bank has lost any confidence in china after the resignation of communist party chief hu yaobang in january he said we have total confidence in the political stability in china
it widened to 361 billion in the first quarter of 1987 from 278 billion a year earlier taiwans official figures show
3rd qtr oper shr 27 cts vs 29 cts oper net 4926000 vs 5231000 revs 185 mln vs 178 ln nine mths oper shr 78 cts vs 84 cts oper net 141 mln vs 153 mln revs 550 mln vs 536 mln note net excludes capital gains of 751000 dlrs vs 664000 dlrs in quarter and 5881000 dlrs vs 3409000 dlrs in nine mths
taft stock closed at 156 1 2 up 1 3 4
mar 27 mar 20 feb 27 brent 1889 1919 1677 bonny light 1958 1975 1715 arab light 1849 1852 1607 urals cif 1902 1898 1654 refinery netbacks in singapore were also lower with heavier and sour crudes weakest
bankers said the shake up was a result of participants pushing the market up too fast in january amid intense speculation that the hong kong dollars 780 peg rate against the us dollar would soon be changed
whippany paper board co inc said shareholders at a special meeting approved a merger into npn inc for 250 dlrs per share
the 11 member cpa include the worlds top three producers of ivory coast brazil and ghana and accounts for around 80 pct of world output
on the export side it said it saw weak demand in west germany affecting export prospects elsewhere in europe while japans exports in 1987 would remain flat and sales by us exporters would respond only marginally to a lower more competitively priced dollar
bp said earlier it planned a tender offer for the 45 pct of standard it does not already own for 70 dlrs a share cash
campbells cch meston lake sets gold targets
icahn earlier this year abandoned plans to buy usx corp x and still retains 11 pct of that companys stock
opec reintroduced fixed prices on february 1 with a spread of 265 dlrs a barrel between its lightest and heaviest crudes
balances in tax and loan note accounts fell to 11645 billion dlrs from 11869 billion dlrs on the same respective days
micron technology inc dram 2nd qtr march five
another said the central bank seemed to be trying to push the dollar up above 150 yen
blizzard conditions halted shipping through the bosphorus waterway and piled snow up to 70 cms deep in central istanbul paralysing the city for the second day running
we have been intervening to a very much greater extent than we have done hitherto chancellor of the exchequer nigel lawson said at a news conference today commenting on the news of the record reserves rise
we have run this alternative proposal to the accounting firms
magnetic controls managed by the data storage products group of control data was founded in 1975 as a joint venture to maintain a technological base in data storage and supply peripheral equipment for the computer systems of its owners
japan buys modest amount of dollars dealers say
miti is expected to lower the projection for primary energy supplies in the year 2000 to 550 mln kilolitres kl from 600 mln they said
spokesman fitzwater said we dont want a trade war but the imposition of sanctions showed the united states would act when it had evidence that trade pacts were being violated
us credit market outlook mini refunding
the ec provides subsidies of about 16 cents a pound on pasta exports
uk base rates have been cut twice by half a point since the paris agreement once on march 11 and again yesterday when foreign demand for sterling surged in reaction to a sharp cut in 1987 government borrowing targets contained in the budget
1985 net includes gains on sale of west los angeles real estate of 650000 dlrs in quarter and 1471000 dlrs in year
the company said it made the earnings estimate in response to analysts forecasts which it said called for per share earnings of 24 cts to 30 cts and revenues of 29 mln dlrs to 32 mln dlrs
chicago mercantile exchange floor traders and commission house representatives are guesstimating todays hog slaughter at about 295000 to 302000 head versus 293000 week ago and 309000 a year ago
harcourts recapitalization will come under scrutiny of a us court in orlando fla
us envoy says manila will pay its debts
some 900 mln dlrs of the package will be for programme aid or local cost financing indonesian central bank governor arifin siregar said
moodys said it is also examining the potential use of the airlines borrowing capacity to finance the merger
the comprehensive trade bill is to be considered by the full house in late april and then will be considered by senate committees
fed seen adding reserves via system repos
pakistan firm raises three billion yen in japan
production of gold from the project at an annual rate of 35000 ounces is scheduled to begin early in 1988
a group led by chas
oil minister hisham nazer told output is running at about three mln barrels per day bpd well down on saudi arabias opec quota of 413 mln set for the first half of 1987
abnormal radiation found in soviet tea hazelnuts
he said if imports of gifts foreign aid items and materials for joint ventures are excluded the deficit was only 350 mln dlrs and the surplus on invisibles was 700 mln
zambias marketed maize production will probably fall to less than 630000 tonnes in 1986 87 may apr from 918000 last year because of poor rainfall in major producing areas agriculture minister kingsley chinkuli said
get a green card if you have to but dont come home without a deal we can all be proud of he said
the cumulative trade position in july showed a 185 billion dlr deficit after 133 billion in june and 189 billion a year earlier with exports at 491 billion and imports both fob at 676 billion
the most important of these are to stabilise prices and to achieve a balanced growth between demand and supply he said
the company said the restructuring moves had improved its balance sheet and improved the outlook for future stability and growth in earnings
charter co 4th qtr net profit 1188 mln dlrs vs loss 13 mln dlrs
the brand will constitute good delivery from april 1 the lme said
usda estimates 1986 soviet grain crop at 210 mln tonnes vs 210 in feb 192 year ago
fitzwater said i would say japan is applying the full court press they certainly are putting both feet forward in terms of explaining their position but he added that all indications are they the tariffs will take effect
alcan to close west german aluminium smelter
the actual capital increase would amount to 27 billion dlrs but usable resources would be less because the callable capital of latin debtors is theoretical and does not take place in practice us officials explained
british corporate affairs minister michael howard told japan to resolve the row over the uk firm cable and wireless plcs cawll shareholding in a new japanese telecommunications company or face an abrupt deterioration in trade relations
an undervalued currency will help those countries exports in the short term but in the long run they have to be concerned about how they are perceived in the international business community yeutter said
in its world production and trade report the department said the increase in tariffs on this category which includes sunflower corn and rapeseed oils was a reaction to importers using basket categories to avoid paying tariffs on specific high tariff products
thats a lot of space romero said
they said this move could inspire iran to offer discounts on cargoes loading in april but the likelihood of discounts depended largely on the levels of spot prices
hecla minging co said it has agreed to purchase a 28 pct interest in the greens creek joint venture from british petroleum co plcs bp amselco minerals inc unit
under current law there is no limit on open market purchases
limited shipments will begin next quarter with full production planned for the following quarter it said
discounts in the october and december contracts take into consideration a six to seven pct increase in march may farrowing intentions which was borne out in the march 1 report fuller said
but vested japanese interests opposed to change remain well entrenched dimming prospects for quick reform analysts said
ericsson ericy wins order from west germany
we are not going to stand by while other parties distort the picture for their own strategic purposes and distract the market away from the real benefits of the merger he said
service america which allegheny acquired in may 1985 operates cafeterias and food and beverage vending machines
london traders said the g 7 communique failed to curb underlying bearishness toward the dollar but this negative sentiment was not yet strong enough to tempt interbank operators to test the downside
anvet inc said it filed with the securities and exchange commission a registration statement for a proposed public offering of 150 mln dlrs of convertible subordinated debentures due 2012
the united states department of agriculture estimated live poultry slaughter for the week ending april 1 as follows in thousands current previous class week week bro fry 92552 95563 lt fowl 2840 3354 hvy fowl 651 789 check total 96043 99706
this compared with 486 billion marks in january 1986
geodome resources ltd said based on a feasibility study of its sunbeam mine it will proceed with contruction and pre production stripping as rapidly as possible
japanese foreign stock purchases jump in february
us district court judge eugene a
shr loss 28 cts vs profit seven cts net loss 107 mln vs profit 5188000 sales 1193 mln vs 2161 mln year shr loss 580 dlrs vs profit 30 cts net loss 3242 mln vs profit 215 mln sales 5493 mln vs 8591 mln note share after preferred dividends
the purchase will be for rexcom common and preferred stock
jack kemp r ny at a hearing shultz said he was unaware that the commerce department was preparing to grant export licenses for the sale of computers
comissaria smith said there is still some doubt as to how much old crop cocoa is still available as harvesting has practically come to an end
1986 nine mths net excludes gain 4726000 dlrs from cumulative effect of pension accounting change
the repurchase agreement yields compare with the 38125 pct one month and 37500 pct three week commercial bill discount rates today
he told a press briefing wednesday that manila has dropped a two tier interest payment offer which would have given banks a higher return if they took partial payment in new philippine investment notes pins instead of in cash
pacific western recently acquired canadian pacific airlines for 300 mln dlrs from canadian pacific ltd cp
until recently commercial banks were slow to conclude new financing packages pending completion of a mexican package mulford said
the immediate reaction was a hike in interbank interest rates today to 1375 1400 pct from yesterdays 1346 pct average for deposits
it said strong shipment gains in four of the five appliance categories resulted in the unprecedented monthly levels with records set for shipments of refrigerators automatic washers disposers dryers and dishwashers
the barley is for shipment may 5 20 and the bonus of 3932 dlrs per tonne was made to harvest states cooperatives the department said
in the july september quarter gnp rose 06 pct from the previous three months
vice premier yao yilin announced at a similar press conference last year that the fecs would be abolished saying the government had decided it was ideologically unacceptable to have two currencies circulating in china at the same time
consumer prices rose by 161 pct in the year to january
he did not elaborate
subscription closes friday march 20 payment date is april 15 listing will be on the amsterdam stock exchange
final terms set on bell group convertible
herbert also said that institutions which are more likely to accept a share alternative than cash would have to judge the respective values of etl and csr shares
the central bank has so far not issued its own paper the sources said
feds heller says dollars current level is appropriate
he said the trade problem underscored the need to reform the us educational system to improve economic performance
another proposal to allow regulators to grant commercial banks more flexibility in accounting for third world loans has been presented by senator bill bradley a new jersey democrat but did not come up yesterday
the export sales would be subsidized with commodities from the inventory of the commodity credit corp and enable us exporters to compete at commercial prices in the colombian market usda said
as a result of the 1986 losses the board proposed cancelling dividend for the year although it predicted a return to profitability during 1987 the statement added
the combination of republics 459 mln dlrs in assets with pioneers 125 mln dlrs would make the new holding company the fifth largest savings and loan organization in wisconsin they said
borg warner has been under siege by takeover speculation for almost a year
the new inra was adopted yesterday at a session held under the auspices of the united nations conference on trade and development unctad in many respects the main features in the new pact resemble those contained in the present one
the sec has already said that other specific material changes such as changes in the percentage of securities being sought or the price being offered made during the course of a tender offer require a 10 day extension of the offer
ongpin told reporters on saturday it was expected to touch five pct this year
this equals 911 dlrs per share of sovereign stock based on the closing price of chubb common stock on march 30
national westminster bank cuts base rate
he told the house appropriations committee the meeting demonstrated that the process is working he noted that the industrial surplus countries committed themselves to strengthen their growth prospects while the deficit countries agreed to reduce their domestic imbalances
according to terms cti holders and employees will receive 200000 shares of rabbit stock and royalties on sales of cti products
im convinced that congress will not go along with this american soybean association president dave haggard said
virazole is approved for marketing in the us in aerosol form as a treatment for an infection that strikes infants called respiratory syncytial virus
united healthcare corp unih 4th qtr net
desoto inc dso regular dividend set
citicorp has made clear its decision to move three billion dlrs to reserves does not mean it is writing off the loans
british and european based trade houses sold the remaining six cargoes for shipment between april may july they said
brentwood brwd files suit
the zero coupon portion could provide value for an account which for tax purposes wants to take a large capital loss the traders said
the ghana cocoa board said it purchased 1323 tonnes of cocoa in the 21st week ended february 26 of the 1986 87 main crop season compared with 1961 tonnes the previous week and 1344 tonnes in the 21st week ended march six of the 1985 86 season the board said
holders of the companys 219 dlrs cumulative preference shares will receive 20 dlrs a share and those owning its 1125 dlrs convertible preferred will receive 8750 dlrs a share
ventra management inc an over the counter company said it acquired joint venture leasing inc for 60 mln venture shares valued at 36 mln dlrs
it said the new agreement more than doubles its previous 14 mln dlrs line of credit
long grain rice in mln cwts 100 lbs cont
japanese demand for uk gilts seen rising
some dealers said the usda may further adjust the posted county price at the gulf to take into account high barge freight rates as a way to keep corn sales flowing but added the current plan probably will be given a few weeks to see if it will work as hoped
shr 23 cts vs 28 cts net 8877000 vs 9530000 revs 342 mln vs 2789 mln avg shrs 394 mln vs 34 mln year shr 191 dlrs vs 162 dlrs net 705 mln vs 505 mln revs 13 billion vs 9905 mln avg shrs 37 mln vs 313 mln note on dec one 1986 company acquired holt rinehart and winston and wb saunders and the dryden press and their foreign subsidiaries
burst agritech inc brzt year nov 30 loss
the high regulatory environment has delayed life insurance firms diversification
the japanese have said they are happy we are coming but they are not going to give us anything lyng said
the distilled spirits business has been in a steady gradual decline for sometime as has the tobacco business said thompson
bank of british columbia 1st qtr jan 31 net
austn feb annual m3 money supply rises 112 pct
paulson declined to give a figure for the deal but said it was strategically important since it increased bolidens presence in saudi arabia
the trade deficit for all of 1986 87 is provisionally estimated at around 70 billion rupees from an estimated record 8747 billion in 1985 86 and actual 5318 billion in 1984 85 commerce minister p
south africas state owned energy firm soekor said it would continue tests after striking oil some 120 kms 75 miles south southwest of mossel bay
the company said cytrx biopool is studying the possible combination of cytrx corps rheothrx drug to reduce platelet aggregation and viscosity in blood with biopool abs drug t pa for dissolving blood clots
ecopetrol chief of security retired general carlos narvaez said security measures would be stricter and that the armed forces were closely collaborating but gave no details
frances fsgt issues 17 billion franc bond
mario rodriguez montero president of an organization of american states special committee on trade said he was aware of the large us trade deficit but added the region should not be the one affected by the trade bills he said the causes of the deficit were the strong dollar and the budget deficit and it is regrettable to solve it by a trade bill that would only serve private us interests rodriguez made the comment at a news conference after two days of meetings with us officials on trade bills now in congress that are designed to reduce the us trade deficit which last year hit a record 1663 billion dlrs
the embassy estimated indonesias calendar 1986 raw sugar production at 18 mln tonnes against a government estimate of 199 mln
shr profit 11 cts vs loss 24 cts net profit 224271 vs loss 511349 revs 7258688 vs 7200349
texas international inc said it has received an unqualified audit opinion from auditor arthur andersen and co
mts said it does not expect problems in obtaining new jersey and nevada regulatory approval for the acquisition since ownership in a caesars stake has already been cleared
non callable for two years the debt is rated ba 2 by moodys investors service inc and bb minus by standard and poors corp
ic industries inc said its abex corp subsidiary agreed to sell its sintered friction materials business in italy to troy michigan based mlx corp for undisclosed terms
the pound hit by the inability of lebanons religiously and ideologically divided government to end 12 years of civil war has lost more than 80 pct of its international value this year
merrill lynch said it expects to announce the final proration factor within 10 business days and begin payment immediately thereafter
the plant will be able to handle 110000 bpd of venezuelan heavy crudes which make up more than half of the countrys crude oil exports
analyst paul spedding of brokers kleinwort grieveson noted that any effect on the government sale of its stake in bp would depend on the reaction of the markets
southwest air luv unit adds houston nonstops
earlier today the house agriculture committee postponed until next tuesday a meeting to consider the disaster aid bill and 0 92
lichtblau also called for the federal government to offer tax abatements for oil drilling to fill the strategic petroleum reserve at a faster rate and to develop pilot plans for alternative energy
they said the import would be financed by the islamic development bank idb which signed an agreement with pakistan earlier this week in jeddah saudi arabia
februarys current account showed a 12 billion baht deficit compared with 17 billion in january and 263 mln a year ago
uk money market given 181 mln stg assistance
a fed spokesman told a press conference that there were no large one day net misses in the feds estimates of reserves in the week ended wednesday
wholesale price declines were led by starch products down 13 pct light heating oil 11 pct lower heavy heating oil 10 pct lower and green coffee down 69 pct
higher soybean production in south america and europe made up for lower production in the united states he said
nigerias central bank has changed the rules governing its foreign exchange auctions in what analysts see as a means of defending the naira currency which has depreciated steadily
the british grants for developing the indian coal industry using british mechanised longwall technology totalled 52 mln stg in the past 10 years it said
former treasury official c
they saw near term technical support at 1825 marks and 145 yen and resistance about 183 marks and 146 yen
it the mtn market will even surpass the bond market he said
the original announcement said the guarantees included three mln dlrs for lumber except plywood
in other words the bank would not be allowed to fail as long as the holding company has a positive net worth heller also said commercial enterprises should be permitted to own a financial services holding company again with the provision that capital would flow to the financial enterprise if necessary
moodys investors service inc said it launched today a new index of investment grade us corporate bonds based on 100 issues
continental bank initial distribution approved
1986 operating net excludes discontinued operations of 84000 dlrs or two cts and extraordinary charges of 1119000 dlrs or a loss of 27 cts
ccc accepts export bonus barley malt to nigeria
mcivor said it was important to continue to search for oil outside the middle east because each addition contributes to a diversity of supply desirable for global political and economic stability
the notes are available in denominations of 1000 and 10000 dlrs and will be listed on the luxembourg stock exchange
the rating agency cited usair groups proposed acquisition of piedmont aviation inc pie as well as trans world airlines incs twa proposed cash merger with usair
they said from september a semi government body will assure repayment of about 50 billion yen in liabilities incurred through job losses and the sale of excess capacity and another 30 billion for buying unneeded land and equipment
companies will probably only drill their best prospects said john curti an analyst with birr wilson securities inc
aegon nv aegnas buys life investors shares
interest payable 123 mln vs 146 mln
so it would be beneficial to the continued conduct of our initiatives but the official also said the administration would resist calls for a tax increase to cut the budget deficit a target europeans say is crucial to help curb economic instability
the trade knows full well what colombias export potential is he said
theres a lot of comfort in knowing youll be guaranteed the governments loan price of 5225 cents a lb
london based dealer gill and duffus recently forecast 1986 87 ivory coast cocoa output at a record 590000 tonnes which compares with 585000 estimated for 1985 86
for first day sales on a friday afternoon im happy with the results an officer on prudential baches syndicate desk said
levesque beaubien inc oil analyst robert plexman forecasts operating profit for 10 of canadas largest oil and gas companies will rise 37 pct in 1987 to about 144 billion dlrs and operating cash flow will increase 12 pct to 324 billion dlrs based on an average oil price for the year of 1650 us dlrs a barrel
at noon the bank had estimated the shortfall at 500 mln stg
the brazilian government also does not have enough money to pay for storage he added
it said the new btx process units include aromatic extraction xylene fractionation xylene isomerization and thermal hydrodealkylation
carrolton has 26 mln dlrs in assets
as a result gnp this year is likely to expand a modest 25 pct the same rate as last year according to daniel van dyke the bank of america economist who wrote the report
analysts said the coincidence of the timing of the announcement by toshiba with cables dispute could increase pressure from the uk on japan
the industrial action at the nsw ports is part of the week of action called by the nsw trades and labour council to protest changes to the states workers compensation laws
the united states will likely impose sanctions soon on imports of japanese microchips senators said today after a private meeting with commerce secretary malcolm baldrige
us should reassess mideast policy analyst
the bank of england said it had provided the money market with 345 mln stg help in the morning session
scheetz currently president will be vice chairman according to the company
he was speaking at a news conference following a two day annual meeting of aid donors grouped in the inter governmental group on indonesia iggi in which 315 billion dlrs in fresh funds were pledged for the coming year
one of the deals in which an insider profit was alleged was the 1984 merger of k mart corp km with pay less drug stores another deal was the sale by wr grace and co gra of its holdings in hermanns sporting goods co an sec official in washington said the vaskevitch case is unrelated to the agencys widening investigation into wall streets insider trading scandal involving ivan boesky and dennis levine
market talk suggested a federal commerce vessel had been booked to move grain from the great lakes to morocco on comanav account at about 22 dlrs and 1550 had been paid for a cargo of oilseeds from british columbia to japan but no confirmation was obtainable
the dispatcher said the elevator was filled with corn and a nearby drying building holding soybeans was on fire
an investor group including new york based mutual shares corp and mutual qualified income fund inc told the securities and exchange commission it raised its stake in gelco corp common stock to 575859 shares or 82 pct of the total outstanding
wifo chief helmut kramer told a new conference that he saw the one pct figure which compares with 18 pct last year as the upper limit of growth
the bank of england said it operated in the money market this morning buying 103 mln stg bank bills
mexico today received the first 250 mln dlrs of a 500 mln dlr credit from japans eximbank aimed at financing a mexican oil pipeline project the finance ministry announced
he said the budget deficit would be fully covered by loans government deposits and other sources
this follows harcourts completed acquisitions of the publishing group of cbs inc and marineland
theres going to have to be some acknowledgement that the dollar is going to be allowed to slip said richard jeffrey of hoare govett
oper shr profit two cts vs loss 31 cts oper net 72000 vs loss 1130000 sales 7896000 vs 9333000 1st half oper shr profit 32 cts vs profit eight cts oper net profit 1187000 vs profit 299000 sales 213 mln vs 260 mln note current year net excludes tax credits of 54000 dlrs in quarter and 945000 dlrs in year
investment firms have 77 pct of midway mdwyo 
us immigration rules spark congress objections
so with australians you win some and you lose some
1986 sales were 798 mln dlrs
in this context algerian lng import would be a source of supplemental supply to us domestic production he added
as such its first quarter 1987 results will be below last years first quarter of 111 dlrs a share he said
taiwan says us wants taiwan dollar to appreciate
talk of an import surcharge or controls is not encouraging because those things wont solve our problems and could well compound them said swearingen
south koreas cumulative commitments amount to 25 mln tonnes up 15 mln compared to last year it said
houston oil royalty trust rth payout lower
wisconsin public service also said natural gas sales dropped 22 pct mainly because of the growing trend of large industrial customers to purchase gas directly from producers
shr loss 72 cts vs loss 148 dlrs net loss 4466006 vs loss 9091688 revs 608181 vs 1280727 six mths shr loss 77 cts vs loss 151 dlrs net loss 4752455 vs loss 9265457 revs 1444149 vs 2791188
exports were 905 mln dlrs against 929 mln revised from 971 mln in december and 816 mln a year earlier while imports fell to 858 mln from 895 mln revised from 928 mln in december and 888 mln in january 1986
ball bll to supply penny blanks to mints
but they said the question was whether iran would consider the matter closed
his pledge to fight the ec proposals and push for the complete dismantling of the system of cross border taxes designed to smooth out currency differences known as monetary compensatory amounts mcas however are unlikely to avoid further protests by producers
the plan was launched in october 1985 by secretary baker and called on commercial and multilateral banks to lend 29 billion dlrs in the subsequent three years to major debtors undertaking reforms that promoting economic growth
cos 1st fl yr of operation
travelers tic unit sells mortgage certificates
the legislation supported by congress democratic and republican leadership as well as by the administration required defense secretary caspar weinberger to provide a report to congress within seven days of enactment on plans to protect us warships and flag ships in the persian gulf
uae central bank cd yields rise
since then however very wet weather has severely restricted beet lifting
us bill sales seen at 574 72 582 81 pct
grassleys bill stems from a 1985 decision by the international trade commission that imports from canada of live swine but not fresh chilled and frozen pork were harming us producers
the telex said the restriction on business with foreign brokers is in line with an earlier measure prohibiting foreign exchange houses from selling dollars or other foreign currencies to anyone living outside venezuela
diamond shamrock joined sun co coastal citgo and murphy oil in raising crude oil posted prices one dlr a barrel yesterday
the company said it omitted the common dividend to cover both losses from a commercial ship conversion contract and increased reserves for previously announced discontinued shipyard operations
frost in early february bought 49 pct of the company durkin said
following consummation of the offer a unit of macandrews will merge into revlon and each remaining share will be converted into the right to receive 2010 dlrs per share in cash the companies said
brennan said he could not comment on the impact of brazils interest payment moratorium on the royal bank of canada
the denominator approved by the governors has not been made public but banking sources said it could be similar to the european monetary system ems tayer said the ministers agreed in principle to allow gcc citizens to set up businesses and work in any member state
iowa beef closed the proessing plant indefinitely in mid december because it said it had no alternative to threats by meatpackers to disrupt operations
market welcomes lower australian payments deficit
petrobras said the request for the withdrawal of the troops was made at 1100 local hours 1400 gmt but a company spokesman said he did not know if the troops had already been removed
a conflicting floor vote delayed the start of the meeting and staffers said it may have to be delayed even until next week
were considering it he said its one of those dinosaur laws and i think its time has come the second figure which would always be lower by deducting freight and insurance presents the deficit in a more favorable light for the reagan administration
south korea signed with japan for a 446 billion yen credit facility part of a four billion dlr aid package for south koreas economic development plan to 1988 foreign ministry officials here said
the navy would then have a carrier battle group of six to eight warships in the area at all times rather than part of the time as happens now the paper said
bundesbank sets 28 day securities repurchase tender at fixed 380 pct
it said it expects a number of the units 100 employees will be offered positions with donaldson
both countries are the only latin american members of the organisation of petroleum exporting countries opec ecuador was exporting about 140000 bpd before the earthquake energy ministry officials said
in last years fourth quarter it earned 1235000 dlrs or 19 cts a share a spokesman said
hungarys economy and hard currency trade have failed so far this year to reverse a two year unfavourable trend the official hungarian news agency mti said
orders for defense capital goods rose 489 pct to 69 billion dlrs following a 388 pct decline in january
america first federally guaranteed mortgage fund two said it is making a special distribution of 716 cts per exchangeable unit which includes 6762 cts from return on capital and 398 cts from income gains
duff and phelps selected utilities inc said it approved payment of higher monthly dividends
one way that mexico could punish recalcitrant banks would be to deny or at least slow down applications to convert mexican debt into equity investments within the country
the company also said its richmond hill gold and silver deposit in the carbonate district of western south dakota has been shown by drilling to contain about 3900000 tons grading 0055 troy ounce of gold and 023 troy ounce of silver per ton
dome currently is seeking to restructure about six billion canadian dlrs 45 billion us dlrs in debt which it took on several years ago when oil prices were high and the company wanted to expand
teleglobe president and chief executive jean claude delorme will continue in the same post the company said
yeutter said at least people seem to be going down the same road but how that translates ultimately into negotiations is another matter entirely there seems to be an understanding of the need to deal with the problem quickly and a more common understanding of how we are going to get from here to there yeutter said
energy secretary john herrington said his proposed option to raise the oil depletion allowance to 275 pct was probably the most economically promising way to spur domestic production
the hole is 460 feet east of the previously reported first hole
the one time pilot 0 92 program designed to assist farmers in kansas oklahoma michigan and parts of missouri was passed by a 304 100 vote and sent to the senate
eyskens repeated calls for the european currency unit the fledgling ec currency at the core of the system to take over the marks dominant role in the ems a proposal that has met with a cool response in west germany
imperials 1986 petroleum earnings rose to 174 mln dlrs from 102 mln dlrs in 1985
looking ahead 1987 should be another year of stability for the property market li said
tokyo grain exchange to raise margin requirements
kell houssels iii told 
this is reflecting a tremendous amount of optimism on the part of the investment community that the outlook for the industry for the future is extremely attractive peters and co ltd oil analyst wilf gobert said
freight costs are higher for cargoes coming from the gulf than southeast asia due to a longer haul and war risk insurance payments japanese customers will visit saudi arabia this month to finalise their separate contract talks now focusing on contractual period and volume which could be very similar to current levels the sources said
the bank said it expects to conduct open market operations during the week and after these cash balances should fluctuate around 30 mln nz dlrs
the new constitution does not allow military men to hold positions in civilian agencies
west texas sour was also raised by 50 cts to 1700 dlrs a barrel
disinflation was an absolute priority neeser told journalists adding that a failure to do this would be extremely serious as if would be very difficult to reverse for many years
jefferies and co said it is making a market in the stock of usair group inc at 48 1 2 to 50
santos said the well was cased and suspended pending further evaluation
the ldp international economic affairs council was responding to nakasones request for measures to reduce japans increasing trade surpluses with the us and europe they said
us court lets chinese bond suit dismissal stand
pursuant to the exchange offer each 1000 dlr principal amount will receive 500 dlr principal amount of senior subordinated notes due march 1 1992 200 dlr principal amount of non interest bearing convertible senior subordainted notes due march 1 1997 and 12 shares of delayed convertible preferred stock liquidation preference 25 dlrs per share
courier corp said it expects to report a small loss for the second fiscal quarter against a profit of 828000 dlrs a year ago
the paper blamed the waste on inadequate storage and bad preservation methods
the company said the transaction will increase triton energys holding in canadian worldwide to 1325 mln shrs or a 60 pct fully diluted interest from 95 mln shares
he omitted the token prepayments in previous announcements but said there was nothing secret about them
we hope to obtain a tacit explicit acceptance from foreign banks that we are not able to service the debt central bank president carlos julio emanuel said
federal reserve board vice chairman manuel johnson said that the us s main industrial partners should expand their domestic growth
the number of workers employed in the west german industrial sector stagnated in the last quarter of 1986 as a 50000 increase in overall employment benefited only the services branch the diw economic institute said
1986 year net includes charge 156000 dlrs from writeoff of seed commitments
us house panel approves trade bill
santos said it remained financially strong with an injection of 84 mln dlrs from the second instalment of a 1985 rights issue and had cash reserves of 3813 mln dlrs at the end of 1986 against 4019 mln a year earlier
shr 11 cts vs 17 cts net 26708 vs 35084 revs 447548 vs 243161 note1986 net includes 4300 dlrs gain from tax credit and 1985 includes gain of 8300 dlrs gain from credit
cis technologies inc said it executed a formal share purchase agreement with swiss reinsurance co of zurich switzerland
mccrae industries inc said it raised its preferred dividend on its class a common stock to 12 cts per share from 11 cts per share
the central bank declined comment but dealers noted the bank had also intervened and sold small amounts of crowns on friday
quakers total capital spending program for 1987 is expected to exceed 125 mln dlrs it said
aluminum co of america said it has signed a letter of intent to sell its american powdered metals co subsidiary to rw technology inc for undisclosed terms with completion expected in early may
the four are local subsidiaries of continental illinois holding corps cihn belgian unit continental bank sa nv amsterdam rotterdam bank nv amroas canadian commercial bank and union de banques arabes et francaises they said
however bryson said the market may be looking at the potential for shares in a publicly traded subsidiary
economic analysts and bankers are optimistic the major banks will show profits in 1987 helped by higher income from treasury and investment banking activities
the privatisation will be a way of attracting extra clients ccf deputy director general rene de la serre told 
uk money market receives 16 mln stg assistance
taiwan clamps new controls on currency inflows
gnb joins in leveraged buyout of french unit
he also declined to specify at what price the company would consider selling it shares
and as debtors and creditors prepare for their annual meeting at the inter american development bank in miami next week the regions debt crisis is clearly coming to a head
in a statement to clarify the position csr said it will retain its roma gas unit the associated roma brisbane gas pipeline and the bula oilfield on seram indonesia plus exploration interests in queensland and hainan island china
mark iv is a williamsville ny maker of pastic products and industrial control equipment
the maize harvest advanced to within 26 to 28 pct of the area sown in cordoba santa fe and northern buenos aires
member states of the european community are starting to run out of patience with japan which they believe has repeatedly promised major initiatives to open its market to imports but as often made only minor moves
kansas city power and light co klt shelf offering of up to 100 mln dlrs of mortgage bonds
the report also decribes related manufacturing marketing administrative and technical resources that could be made avialable to a buyer
paribas and credit lyonnais will be market makers for the first two tranches the communique added
growers said it was still too early to tell whether the rains had damaged crops though they said maize and sunflower crops may have suffered
were going to have international dealers dealer networks that are worldwide he says
overland express inc over year loss
sea galley stores inc seag 4th qtr dec 28 loss
a belgian finance ministry spokesman said new rules planned on insider trading would enable offenders to be fined and imprisoned for up to a year and be compelled to forfeit gains
the increase in canadian shipments comes at a time of growing anger in the us over rising steel imports from several countries in the face of a decline in the domestic steel industry
say sayi to take 3rd qtr loss from sale
pegasus gold inc said it cut its long term debt to 85 mln dlrs from 100 mln dlrs when its european bondholders voluntarily converted some of their debt holdings into 15 mln shares of pegasus common
he said business was soft in the us he said the company was reorganizing its distribution programs and its staff reassigning and laying off selected employees
the measure now goes to the full house ways and means committee next week but major changes are not expected congressional sources said
volcker said us exports were now growing substantially while import growth should slow
nakasone but not sumita is due to attend the summit
the report said the assessment was based on travel in the two countries from march 30 to april 4
mcivor an exxon corp xon director and senior vice president told in an interview
in the long term we will be getting less and less for more and more production and im not comfortable with that he said
ninety six pct of alberta and northeastern british columbia crops have been seeded about a week ahead of the 10 year average according to the alberta wheat pool report
he said that spread had averaged around 14 percentage points since last october until it fell below one point and triggered the april prime rate rise at most banks
the us last year was hong kongs biggest export market accounting for over 30 pct of domestically produced exports
armtek corp formerly armstrong rubber co completed the previously announced sale of its natchez miss tire plant and other assets to condere corp condere said
danforth added that he expects westinghouses sales to grow faster than the markets the corportation serves and surely faster than gnp he said earnings per share growth is expected to consistently exceed the standard and poors 500 index and return on equity will remain in the 18 to 21 pct range
us secretary of state george shultz warned members of the association of southeast asian nations asean they could no longer rely on increased exports to the us for growth
the bangkok shipowners and agents association has appealed to the government to scrap the purchase plan
the minister said that he had proposed a four year plan to the creditors which would include a rescaling of the commitments derived from its debt
unilever plc shares are up 25p since yesterday at 2575p in buoyant response to the results and share split proposal though 1986 profits were not ahead of market forecasts dealers added
assets of us money funds rose in week
exports to the convertible currency area rose 116 pct from 1985 while imports rose 178 pct
great western said it will purchase branches in deerfield beach and hollywood with approximately 80 mln dlrs in deposits from guardian savings and loan association and one in palm beach with approximately 10 mln in deposits from goldome savings bank
in the quarter ended march 8 the group had a modest sales increase and major improvement in operating performance compared to the year ago quarter the company said
it said it has no plans to seek control of the company
brown said the banks other nonperforming assets not including its brazilian exposure could rise to over 700 mln dlrs at the end of this quarter compared with 669 mln dlrs a year earlier and 614 mln dlrs at the end of 1986
usda said unlikely to broaden corn bonus offer
citibank says it raises base rate to 7 3 4 pct from 7 1 2 pct
but a western economist said the argument that us sanctions were a unilateral torpedoing of the polish economy wont cut any ice
police were called but the fighting had ended by the time they arrived
kahn is a miami insurance executive and investor
us agriculture department usda figures for highly erodible land enrolled into the conservation reserve program were regarded by most grain analysts as neutral to bearish although some said a full state by state breakdown would be needed to assess the full price impact
world bank president barber conable said he was concerned about the state of brazils economy and urged the country to come up with a plan soon to put its economic house in order
when he left burlington in november 1985 burlington said he signed a contract promising never to divulge inside information about the company
farmers and merchants have alleged a squeeze and cornering of the market but harris pointed out that recent investigations by the association of futures brokers and dealers afbd the international commodities clearing house icch and other parties found no evidence to substantiate this
earlier this year a group led by thompson acquired majority ownership of southland through a 77 dlrs a share tender offer for 315 mln shares of southland common stock
a return of 22 pct on funds employed represents a very meagre return in an economy suffering from inflation of around 10 pct he said
backlog 281 mln dlrs vs 225 mln dlrs at end of previous quarter and 210 mln dlrs at end of prior years second quarter
sweden to go ahead with s
banctexas group inc btx 3rd qtr oper loss
the reserves reached a record high of more than 51 billion us dlrs wednesday
the international cocoa council icco adjourned for the day after a detailed proposal on buffer stock rules was distributed and executive committee officials were elected delegates said
cray research inc said british petroleum ordered a cray x mp 24 supercomputer valued at about 66 mln dlrs
the south louisiana sweet grade of crude was reduced to 1685 dlrs a bbl
dutch january industrial production rises 48 pct
miyazawa says yen still inside paris range
on friday petricioli said we will be a lot more expeditious in processing the requests of banks that have supported us the pressure on the us banks comes at a time when other major latin american debtors are in the process of crucial debt negotiations
based on chart formations t bond futures may be poised for further gains although the advance has been slowed recently analysts said
speculation the united states will offer subsidized wheat to the soviet union appears to have reached a new level of intensity in the run up to secretary of state george shultz visit later this month to moscow
ual inc ual shelf offering of up to 200 mln dlrs of debentures due march 31 1997 and 2564102 shares of common stock
certainly we continue to have a fairly heavy drain on our external availabilities simply by servicing our debts
the unilever spokesman declined to say how much the group expected to receive for stauffer
if the latest french requests are accepted as expected this will bring the total of french maize exported in this context to 25500 tonnes
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
taiwan imports 210000 tonnes south african maize
gold futures rallied partly in response to strength in the silver market on the commodity exchange in new york
swire plans bonus issue on higher 1986 profits
qtly div 16 1 2 cts vs 16 1 2 cts pay april 27 record april 20
in a march 18 letter to gencorp chairman william reynolds which was included in the sec filing general partners officials said they were confident of our ability to promptly obtain the remaining funding as described in our offer materials for this reason we do not forsee any obstacles to a prompt consummation of the transaction general partners said
new rubber pact adopted at geneva conference
following a meeting yesterday with borg warner officials and investment bankers gaf said it is today delivering a letter to the borg warner board outling the terms of the proposal that would be made by tender offer pursuant to a mutually acceptable merger agreement to be approved by the borg warner board and conditioned on that boards recommendation of the tender offer and merger
but if draws are at the higher end of the estimated range they added the effect will be bullish
call money rose yesterday to 7 7 8 eight pct from 7 3 4 7 8 pct
soviet data show the machine building industry which makes machine tools instruments and other engineering goods increased output by 33 pct in the first nine months of this year against the same period of 1986
the nine largest airlines now control 94 per cent of the market
the conversion period is from may 20 1987 until september 20 1992
iomega corp announced it expected revenues for the first quarter of 1987 to be significantly lower than planned and that it anticipated a loss for the quarter
sparked by the proposal of fujitsu ltd
we have never had a default
the federal agency said it was the second straight gain for goods producing industries
that plan would have set a specific time table for foreign countries to ease import restraints or they would face a 25 pct cut in exports to the united states
other sources said there were few forward contracts and speculative buying last month while delays in steamer arrivals aggravated the problem
a fund spokesman said an imf team would visit la paz shortly to discuss terms of the new agreement
he said the company has targeted waste energy systems and hazardous waste removal as some of the emerging growth areas for the company
frank b
also the category including fuel oil coal and bottled gas rose in february by 38 pct putting it 149 pct under the year ago figure
year to date figures will not become available until march 26 when eias petroleum supply monthly data for january 1987 becomes available the agency said
the meal was worth 735 mln dlrs
the notes are for settlement april 9 and when issued trading is expected to begin at 0930 hrs est april 7 it said
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
assets 258 billion dlrs up 72 pct from a year earlier deposits 211 billion up 94 pct and loans 171 billion dlrs up 172 pct
the paris accord said currencies are within ranges broadly consistent with underlying economic fundamentals given the policy commitments summarized in this statement now they accept the dollars lower level especially against the yen as hard reality that is nonetheless consistent with the agreement
the budget is invariably too optimistic on expenditure said standard bank ltd in a budget preview
the japanese telecommunications industry was deregulated in 1985
the company said the new agreement would have no impact on its current supplier base and it will continue to work with as braod base of suppliers of junior sportswear as it does in its other merchandise areas
changes in loan rates will definitely be looked at for next years crop he said with the option of making soybean loans partially in cash and in certificates under consideration
cyprus minerals cypm named in suits
suburban said it has received shareholder tenders for 100 pct of valley nationals stock
chemlawn chem ecolab econ in merger pact
the 12 year loan guaranteed by parent company suns enterprise ltd of japan is to be signed by mid april
mitek systems inc said it expects to report a loss in the current quarter ending march 31 due primarily to the government buying cycle
north american profits were affected by the fall of the value of the dollar
south africa creditor banks agree on debt plan
the european investment bank eib is issuing a 40 billion yen eurobond due may 6 1994 paying 4 5 8 pct and priced at 101 1 2 lead nomura international ltd said
sales of paints and dyes fibres sheeting and information technology all rose in 1986 but plant construction sales fell
reagan ready to impose trade curbs against japan
year ago shr figures restated for 3 for 2 splits paid june 1986 and january 1987
there will be co leads
rospatchs board believes that the long term interests of its shareholders will be best served by continuing as an independent public company at this time the company said in response to an unsolicited offer from diagnostic retrieval
a total of 126031 tonnes of uk intervention feed wheat was sold to the home market at this weeks tender provisional results show the home grown cereals authority hgca said
the estimated 11 mln dlrs year loss or about 50 cts a share compares with earnings of 871000 dlrs or 42 cts a share recorded last year
the securities are rated b 2 by moodys and b by standard and poors
qtly div class a nine cts vs 75 cts prior qtly div class b nine cts vs 75 cts prior pay april 30 record march 31
taurus said the acquisition is expected to increase its annual sales to about 100 mln dlrs and make it canadas largest footwear manufacturer
taft stock rose 2 7 8 to 155 3 4
acceleration corp said it sold a 249 pct stake in the common stock of united coasts corp to the sheet metal workers national pension fund the company said it agreed to sell the fund an additional 51 pct of hartford conn based united when the fund receives approval from the director of insurance of the state of arizona
the opec member has a production quota of 210000 bpd but has asked the organization to allow it to produce 310000 bpd once the repairs are completed so as to compensate the loss
for each corona share it offered four dlrs cash one series b share of royex one series c share of royex and one share purchase warrant
he was not immediately available for comment
ec sources detail new farm social package
bank okla
nzfp shares ended at 388 dlrs today
he told a press conference brazil now had to reconsider its export plans and that the 155 mln bag export figure which it had proposed for itself earlier should no longer be taken as the countrys export target to ico member countries
it said other major us canadian issues were defense cooperation acid rain and the us rejection of a canadian assertion of sovereignty over waters of the northwest passage
dana currently carries a 2 senior debt and industrial revenue bonds
shr 23 cts vs 14 cts net 439100 vs 259948 revs 9918413 vs 9683392 note share adjusted for five pct stock dividend
wedge group inc a houston investment firm with a 55 pct stake in american medical international inc said it has had talks with pesch and co which is seeking control of the company
the estate of late resorts chairman james m
shr 11 cts vs 13 cts net 1129000 vs 1301000 revs 832 mln vs 745 mln year shr 57 cts vs 82 cts net 5686000 vs 8168000 revs 3984 mln vs 3338 mln
a successful new gatt general agreement on tariffs and trade round is needed to halt growing bilateral trade problems between major trading partners us trade representative clayton yeutter said
cuevas said employers were heeding the governments call to hold wage increases to its five pct inflation target this year with increases from salary reviews awarded last year and new wage pacts averaging 56 pct in the first quarter of 1987
1987 3rd qtr also includes an extraordinary 114 mln dlrs or 45 cts a share for planned redemtion of companys 16 1 4 pct subordinated debentures
herley microwave hrly 2nd qtr jan 31 net
i think we are progressing very well the first battle will take place next week when the full house ways and means committee considers an amendment by rep
the automaker said it made 144959 trucks last month an increase from 131640 produced in the same month last year
wtc said its board concluded in view of the social political and economic situatin in south africa it was best to separate the company from its interests there
the louisiana weekly usda state crop report said there were 24 days suitable for fieldwork
the official said the increase reflected improved market conditions although he noted the new prices would still be lower than those of three years ago
egypts central bak left the dollar rate for commercial banks for april 8 unchanged at 1353 67 pounds
industry sources said this represented under one months consumption
assets of money market mutual funds fell 353 mln dlrs in latest week to 23743 billion
the ft is subject to a 70 mln stg investment programme with the printing and publishing operation moving to a new plant in the london docklands next year
senate banking committee chairman william proxmire called for curbs of hostile corporate takeovers and new restrictions on risk arbitrageurs
it added that the lawsuit will not affect the negotiations on the merger transaction with bristol meyers co bmy announced monday
results also exclude income from discontinued operations of 3063000 dlrs in 1987 nine mths of 503000 dlrs or two cts in 1986 3rd qtr and 5804000 dlrs or 21 cts in 1986 nine mths
pigmeat and beef futures which have been thinly traded on the london meat futures exchange lmfe despite lower physical prices and the introduction of new contracts need more effective marketing lmfe chairman pat elmer said in his annual report
medical sterilization inc msti year loss
malaysia indonesia and thailand account for 90 pct of world rubber exports and singapore is a major regional rubber trading centre
but the process of acquisitions would go on with strategic acquisitions taking place from time to time he said
success may depend on whether japanese parents allow german subsidiaries independence to operate without interference
he said that before the restriction was imposed the volume of his firms transactions with venezuela was about 10 mln dlrs a day
an american medical spokesman said the company will comment on the new pesch offer by march 10
german banking authorities weigh swap regulations
iraq ccc credit guarantees switched usda
ccr video corp said it received an offer to enter into negotiations for intercep investment corp of vancouver bc to acquire a controlling interest in the company through a tender offer
consolidated gold fields plc s arc america corp subsidiary said it has acquired 7521643 american aggregates corp shares about 95 pct of those outstanding as a result of its tender offer which expired february 27
norstar bancorp said that its board and the board of fleet financial group have approved a definitive agreement to merge
james river corp jr sets regular dividend
endotronics inc said it expects to incur substantial losses for the second quarter ending march 31 and fiscal year ending sept 30 1987
b and c managing director peter goldie said rmj would be bought at about the same multiple as exco suggesting net income of around 16 mln dlrs
weinberger was asked why the united states had chosen to attack an oil platform rather than iranian silkworm missile platforms blamed by washington for fridays attack
x includes imports white 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stocks 198 198 173 173 production 232 232 254 254 ttl supply x 433 433 430 430 domestic use 82 83 80 80 exports 170 160 152 152 total use 252 243 232 232 end stocks 181 190 198 198 note season begins june 1
security pacific said in addition to originating consumer and commercial loans and leases the joint venture will market related financial products and services
great western said the pre tax gain on the sale will be approximately 65 mln dlrs and after tax gain will be approximately 15 mln
bavadra has launched a campaign of civil disobedience to press for his reinstatement
winchells donut wdh sets initial quarterly
he said bp does not expect any regulatory problems that would delay completion of the acquisition
the group earlier reported its net earnings dropped to 6030 mln dlrs in the first three quarters ended february 28 from 8130 mln a year earlier
it said the option can be exercised within 120 days and would mark its entry into the los angeles market
the united states this week signaled it is pressing commercial banks increasingly disenchanted with providing large cash loans to debtor nations to develop new ways of financing that will prove more acceptable to both sides
in april gencorp sucessfully thwarted a takeover by a partnership formed by afg industries inc afg and wagner and brown with a restructuring program that included the purchase of up to 54 pct or 125 mln shares of its common at 130 dlrs a share for a total of 16 billion dlrs as part of the restructuring gencorp also said it planned to sell its tire business the bottling operations of its rko general inc subsidiary and rkos remaining broadcast properties to focus on the companys aerospace and automotive components businesses
economists said the united states now appeared to have agreed to play by the rules of the louvre accord and support the dollar in return for the german action on interest rates
reagan hints us wants help in patrolling gulf
farm land signed up to date in the conservation program totals 19488587 acres
the offer has been fully underwritten a treasury spokesman said
baker communications inc bakr year loss
the bid would not have been successful but for the services of mr ward mac attorneys said in the documents submitted in court
under the mergers terms strata shareholders will receive 57 cts per share of strata common and warrants to buy about 06 shares of lomak common at 375 cts per share on or before december 31 1990 for each strata common share
the imf staff has also cast doubt on the japanese governments forecast of 35 pct economic growth in the fiscal year beginning april 1
the new grade of unleaded gasoline has an octane level of 89 compared with over 90 for super unleaded and 87 for regular unleaded gasoline
berliner bank has suspended the three managers of its stuttgart branch and is continuing an investigation into the case in which state prosecutors are also participating
oper also excludes tax credits of 158 mln vs 5954000 for qtr and 178 mln vs 116 mln for nine mths
avery said it will register with the securities and exchange commission shrortly to offer four mln additional common shares
discussion of the plan was likely to be long and difficult the sources said
it said each 100 shares will be exchanged for 1000 dlrs principal amount of 14375 pct senior subordinated debentures due june 15 2002
sarneys decision means that brazilian importers of machinery and industrial equipment can buy dollar currency in the parallel market without having to wait for the issuing of an official order from the banco do brasils foreign trade department cacex sarney also announced measures to boost exports in an effort to strengthen the countrys trade balance and alleviate the risk of a reduction of foreign loans for this sector of the economy
the package of energy loans was sold at book value so first city did not to show a gain or loss said bank spokesman james day
however some traders sold contracts to take profits after the extended rally which has seen the april delivery contract soar to 6990 cents a pound from 56 cents a pound at the start of the year
but now with the policy changes the debt is expected to remain above 40 billion dlrs although it could still be lower than the originally projected 418 billion dlrs he said
the entire southern section of lyon was cordoned off
multivest mvst ends merger talkssets purchase
he gave no figure for 1986 profit
now it sees that figure at 15 cts a share or about 15 mln dlrs
official sources said the government was also planning to abolish import duties on fertiliser and agricultural equipment with the liberalisation measures would be extended to other areas of industry later
nakasone has said that washington understands this problem
hre said the board reduced the dividend due to the continuing impact of overbuilding in its office building markets and its inability to replace the income from high yielding investments that have matured
uk retail prices rise 04 pct in february
standard and poors recent triple a rating of chiyoda fire and marine insurance co ltds claims paying ability caused the japanese agencies which had rated chiyodas convertible bond only a plus to come under some criticism for being too conservative they said
a greater than anticipated need competitive prices and political motivations could be sparking soviet interest in us corn industry and government officials said
kaul said producers need to procure hard currency to service foreign debt will put further pressure on them to sell and this should keep substantial pressure on exporters to undertake sales despite the drop in prices to six year lows kaul believes the market will drop to 80 cents a lb before brazils frost season begins in june
us energy secretary proposes oil tax incentives
at 23 pct the proportion of companies rating their export books above normal was unchanged between february and march
brown and sons inc and montgomery securities
some 300000 to 400000 tonnes could have changed hands in current activity which is encouraging for a sugar trade which previously saw little worthwhile end buyer enquiry they added
terms of the acquisition were not disclosed
poehl rebuffed recent us criticism of west germany saying the bundesbank had made a substantial contribution to international cooperation in interest and monetary policy
mcculley said that once the spread between three month certificates of deposit and the prime rate narrows to less than 1 1 2 percentage points there is a strong chance of a prime rate increase
china official condemns government grain policy
it expires april 3
australia is risking wheat export sales by not providing enough specific quality grades to meet buyer requirements the australian wheat board awb said
panteras corp said it agreed to buy ten pizza restaurants in southeastern colorado from creditors foreclosing on the facilities
joe mcmillan a senior vice president told after addressing a houston meeting of the american institute of chemical engineers by early in the next century synthetics should play a significant role in this countrys energy supply mcmillan also told reporters at a news conference that he believed synthetic fuels would become economic to develop when world oil prices reached a 30 to 40 dlr a barrel price range
hecht jack goldfarb and harold v
shr six cts net 155764 revs 6506792 note company formed in august 1986
the narrow currency movements of recent weeks strongly suggests the six leading industrial countries have tamed the normally unruly financial markets and next months talks seem likely to build on that stability
the system the value of which was not disclosed will provide ford with automated vehicle tracking capabilities scicon said
adams russell said the systems operate in wellsville amity andover scio willing belmont milo jerusalem benton and penn yan ny
it said closing is subject to regulatory approval
de zeeuw was told of the us lawmakers frustration with japans restrictive rice import policy and members defended the us dairy policy which aims to cut surplus production by subsidizing producers to trim herds sources said
sumitomo metal mining co said it will raise its monthly nickel output to around 1750 tonnes from april 1 from 1650 now because of increased domestic demand mainly from stainless steel makers
as an example he cited sterlings role as a petrocurrency which he said was diminishing
higher bids were met in full
they said deregulation was vital to promote more competition and efficiency and most saw it as inevitable
jacor jcor to buy two denver radio stations
us officials had been meeting on a response since friday when an attack on a kuwaiti port severely damaged a us flagged ship
enro holding corp said it acquired enro shirt co and foxcroft ltd from wilson bros for 30 mln dlrs
louisiana pacific corp has agreed to pay 3475000 dlrs for the bankrupt harris pine sawmill in pendleton ore the mills bankruptcy trustee said
gafs net earnings included an after tax gain of 2014 mln from its participation in a union carbide exchange offer a special union carbide dividend and the sale of its union carbide shares
gaf corp chairman samuel heyman told he did not foresee major changes in borg warner bor if gafs 46 dlr per share offer to acquire borg warner is successful
banctexas said it plans to concentrate on its primary market the dallas area
first city national bank of houston had a primary capital ratio of 534 pct and first city bank of dallas had a 475 pct ratio
it previously paid a five cents a share dividend in recent quarters
reagan is to decide by july 19 whether to renew the restraint program
brazil will be an aggressive seller under any scenario but as yet there is no sign of unusually heavy brazilian sales the dealer said
reserves have increased every year since 1983 at a compounded rate of 10 pct a year
analysts estimated the value at about 16 billion dlrs based on 385 mln shares outstanding
the price reduction today was made in the light of falling oil product prices and a weak crude oil market a company spokeswoman said
it said preliminary results are encouraging and a feasibility study is nearing completion
that increases to 288 mln dlrs the amount of bonds the utility will buy back
nilsson said the takeover also will provide opportunities to cooperate with the mining and materials handling operations of bolidens parent company trelleborg ab he said allis chalmers was selling out because it needed new cash after suffering big losses in its farm equipment operation
we can handle probably an hour or so down to 25 or 26 degrees fahrenheit krenzler said as long as we dont have a lot of wind if we do get six hours down below 25 degrees id say we have a good chance of significant damage to the heads he said
this compared with the last issue which had a 5 3 4 pct coupon priced at 99 3 4 pct for a yield of 575 pct
in the toughest ever proposals for the annual price review at which ec ministers set the levels of subsidies agriculture commissioner frans andriessen has included measures that could result in price cuts for some products of up to 11 pct
the agl offer the third to be made for tmoc this year compares with the santos cash offer of 400 dlrs a share
non performing loans began to mount in the early 1980s as industry failed to cope with higher interest rates and started to default
land entered into the conservation reserve program will be ineligible for farming for ten years and must be planted with permanent vegetative cover
guinness says its former chairman ernest saunders and ward breached their fiduciary duty in authorising the payment to ward via a jersey based company marketing and acquisitions consultants and has gone to the jersey court to recover it
balance sheet total fell to 97 billion marks from 108 billion reflecting the lower dollar and the fact that credit business redemptions were not fully offset by new lending
the new facility replaces the current 42 billion guilders of nine day advances which expire tomorrow
shares of polaroid corp rose following a reiterated recommendation by merrill lynch and co that focused on strong earnings momentum for the company traders said
in 1986 the company earned 102 billion dlrs or 1026 dlrs a share compared with 9962 mln dlrs or 10 dlrs a share in 1985
the commercial rand used for current account transactions rose 05 cts to 49 us cts while the financial rand jumped nearly two cts to 33 us cts
he projected a capital expenditure budget of 730 mln dlrs up from the 1986 expenditure of 655 mln dlrs
a ypf statement blamed the drop on momentary problems owing to the summer season but gave no further details
corn sales of 2806300 tonnes in the week ended march 19 were the highest level since mid november 1979 the us agriculture department said
he noted the final results for the fourth quarter will depend on the allocation of increased costs between the second and fourth quarters
the great atlantic and pacific tea co inc said it withdrew its offer to acquire delchamps inc dlcho for 27 dlrs a share or about 175 mln dlrs which was made earlier this month
putting into effect any of the alternatives being explored could hurt or defeat the mark iv offer it said
quantum venture ups computer network cmnt stake
the proposed sale will complete fruit of the looms previously announced plan to divest itself of unrelated businesses
pioneer sugar says csr takeover offer too low
even prices of light mideast grades such as qatar and abu dhabi crudes are expected to improve from recent weak positions 15 to 20 cents below their gsps
chicago mercantile exchange floor traders and commission house representatives are guesstimating todays hog slaughter at about 295000 to 305000 head versus 307000 week ago and 311000 a year ago
us treasury secretary james baker said recently that he expects a reduction in japans trade surplus this year
us activities accounted for 34 pct of 1986 turnover compared with 22 pct in 1982
obrien energy systems inc is raising 25 mln dlrs through an offering of convertible subordinated debentures due 2002 with a 7 3 4 pct coupon and par pricing said sole underwriter drexel burnham lambert inc
paribas plan to adjust ecuador loan terms opposed
however since then the pound has continued to gain strongly
one of cbt chairman karsten mahlmanns agenda items has been to proceed with renovation in the financial futures room the spokesman said
the blocks were awarded in three licenses each covering two blocks
terms were not disclosed
sales grew 235 pct in the quarter to 3981 mln dlrs and 255 pct in the nine months to 136 billion dlrs
the company said the acquired products are sold mostly in france for use on grapevines wheat and sugar beets and sales are about 40 mln dlrs annually
but this two pronged approach has drawn little response from the two nations so far and in any case will only work with a sizeable lag economists say
piosec pioal acquires semiconductor stake
terms were not disclosed
portugals consumer prices rose one pct last month after a 12 pct increase in january and a 13 pct rise in february 1986 the national statistics institute said
the new cds with maturities of six months one year and two years carry interest rates ranging from 39 to 515 pct
the dividend rate on the shares is reset by auction every 49 days
indonesian net exports therefore may fall by 29 pct to 350000 tonnes oil world said
he said bolivia would not bargain with creditor banks over the price to paid for the debt paper they hold and would make a single non negotiable offer
nofziger was given up to 1 mln dlrs in wedtech stock
us trade representative clayton yeutter stressed the importance of trade negotiations to open foreign markets rather than trade restrictions in a statement to the senate finance committee
this years fall was due to lower selling prices for end users which more than offset the yens appreciation
value line inc valu 3rd qtr jan 31
boatmens national bank boat raises prime
professor is owned by american sports president edward c
s and p noted that extensive cost cutting programs are under way at mack including the relocation of truck assembly operations to a new plant in south carolina from allentown pa
morocco buoyed by an economic turnaround and last weeks paris club debt rescheduling is likely to obtain over 100 mln dlrs worth of development aid at a meeting with donors beginning here tomorrow john shilling director of the world banks moroccan division said
he said a major government inquiry into the disaster will be held all similar ferries sailing from britain will be inspected and owners will be asked to fit lights to give warning if bow doors are not properly closed
there has been some slight progress but it is not the end of the road yet he said
the trust which will accept up to 75 mln shares of american home products ahp said it has already received tenders for about four mln shares
fed sets 15 billion dlr customer repurchase fed says
morgan grenfell and co ltd is co lead
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
it said its plans call for 1987 production of 30000 ounces of gold with product costs per ounce at about 200 dlrs
bangladesh sugar production almost doubles
mine and industry officials from most member states of the association of tin producing countries atpc say they have found ways to limit group exports to 96000 tonnes in the year started march 1 according to views polled by correspondents
but seipp also called for support for growth from fiscal policy saying the top rate of income and corporate tax should be brought down to 49 pct
sceptre investment counsel ltd 1st qtr net
while political manuevering by small producers and consuming countries will be important us officials said the key to any future outcome will be brazils position
shr loss 24 cts vs profit three cts net loss 982779 vs profit 104418 revs 112 mln vs 123 mln
merrill lynch does not intend to sell borg warner assets but it may be forced to do so in financing the deal said sources familiar with the transaction
qtrly seven cts vs six cts pay april 20 record march 31 note full name of company is second national building and loan
opposition to a reopening of the 1985 farm bill at this time is the major reason cited by those against an expansion of the bill committee staffers said
the average delivered prices at the end of january were 210 dlrs per mln btu compared with 326 dlrs a year ago
responsible tax reform must be fiscally responsible wilson said in a speech prepared for the house of commons
a turning point seemed to be dainippon ink and chemicals incs diact takeover bid for sun chemical corp of the us last year which some analysts saw as somewhat hostile he added
however it was not in the competence of the national bank to rule on prospectuses and banks have since continued largely as before public issues generally quoted on stock exchanges have been provided with detailed prospectuses while notes virtually always not quoted have been equipped only with information memorandums with varying degrees of detail
heymann sees operating profits from ges jet engine business rising from 870 mln dlrs last year to 13 billion dlrs by 1991
many consumers want to try the rubber before they carry on buying he said
the dry fall damaged pastures the cold winter raised feed demands and a late spring would require longer off pasture feeding they said
asked if the bank of japan will consider a further cut in its discount rate he said he now thinks the bank will have to carefully consider its future money policy
we expect to shift our company toward higher value added businesses and continue to broaden our base henderson told reporters at an informal meeting here
the company said the shareholders had previously expressed dissatisfaction with computer identics management and had informed computer identics that the present board no longer had the support of a majority of shares held
i think hes going to be the next frank lorenzo of wall street said one market source
he said discussions were still continuing on debt capitalization plans and schemes for on lending in the light of certain argentine concerns
bhpgm chairman designate john gough said it was a quality gold stock
richard gephardt to mandate a reduction in trade surpluses with the us by countries such as japan south korea and taiwan
it said major buyers last month were britain japan the netherlands west germany and the us
the treasury secretary stressed however it was very important for the main surplus countries to grow as fast as they could consistent with low inflation to resolve trade imbalances
klopfenstein said that ccc will not be able to relocate grain in any significant amount this fall so certificates will be used in various programs to relieve storage tightness
de la rue raises annual profits by 127 pct
mitchell energy and development corp said it plans to hold its capital spending in fiscal 1988 ending january 31 to 96 mln dlrs down from the 123 mln dlrs spent in 1987 and 213 mln dlrs in 1986
management science america inc clarifying statements made earlier today said its loss for the first quarter could exceed 20 cts a share because of non recurring expenses associated with the acquisition of several companies including comserv inc
the banks would welcome us going to the imf
officials said a colony of the black and amber coloured beetles can destroy a potato field in a day
inspeech inc said it acquired norma bork associates inc and bork medical services inc for undisclosed terms
venezuelas biggest private debtor faces default
westlb international said it plans to expand its range of services for private clients
viner earlier reported a fourth quarter loss of 918000 us dlrs after a 15 mln dlr writedown of its stake in hecks
to the surprise of most participants the issue was sold out within hours of becoming available for trading and the market pushed on to register further sharp gains
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
after a start up period the mill is expected to produce 106000 ounces of gold 1700000 ounces of silver 26000 tons of zinc and 5700 tons of lead on an annual basis from 4300000 tons of ore the company said
shr 16 cts vs 11 cts net 1888000 vs 1307000 revs 7365000 vs 5877000 year oper shr 58 cts vs 40 cts oper net 7005000 vs 4866000 revs 271 mln vs 211 mln note prior year net excludes 263000 dlr loss from discontinued operations and 2073000 dlrs on disposal
dome petroleum ltd dmp year loss
even without further success the existing fields and recent discoveries will contribute significantly to profit and cash flow for some years to come it said
yet there was some concern a shortage could eventually develop for bonds that mature in 10 or more years
it sounds like a good deal stuart mckibbin of ac goode and co told 
the group added its has already had some contacts with others concerning the company but said no understandings have been reached
the australian wheat boards awb 1986 87 export program is well advanced with over 10 mln tonnes already sold awb general manager ron paice said
terms were not disclosed
st
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
shr profit two cts vs loss 11 cts net profit 31734 vs loss 190677 sales 1325978 vs 1029921 nine mths shr profit eight cts vs loss 53 cts net profit 142200 vs loss 939435 sales 4066777 vs 2793479
harley davidson inc said its wholly owned subsidiary holiday rambler corp filed a registration statement covering 70 mln dlrs of subordinated notes due 1997
oper net excludes gains on tax loss carryforward of 247000 dlrs vs 118000 dlrs
ducommun inc dco sells division
dome pete dmp said to be pressed to sell encor
no definitive bonds will be available
the statement said the 400000 lire limit would remain for italian residents wishing to take cash out of the country but non residents could re export lira cash if they made appropriate declarations at customs points
associates corp of north america is issuing a 15 billion yen eurobond due november 2 1992 with a five pct coupon and priced at 102 3 8 ibj international ltd said as lead manager
clabir corp said it has determined all dividends paid on its class a common in 1986 are not taxable as dividend income
the inflation data compares with market forecasts for a rise of 04 05 pct in february and a yearly rise of about four pct economists said
the notes due march 31 1992 will be guaranteed by the sumitomo trust and banking co ltd and the sumitomo bank ltd
applied dna systems inc adna 4th qtr loss
the central banks surprise signal followed its strenuous efforts last week to prevent market forces from bringing down base rates before the uk budget on march 17
neither the ecgd nor the bank of england would comment on the plan
earlier today a morgan guaranty official while declining to reveal the pricing on the facility said that banks would be compensated fairly since this is a special purpose facility which must be completed quickly with the signing expected in about 10 days
clayton homes inc cmh 3rd qtr march 31 net
in its weekly statistical bulletin the oil industry trade group said gasoline stocks fell 289 mln barrels to 24844 mln barrels from a revised 25133 mln and crude oil stocks dropped 439 mln barrels to 32513 mln from a revised 32952 mln
southam inc said it agreed to sell its 49 pct interest in sun publishing co ltd which publishes the brandon sun to majority shareholder publisher lewis d
canada had a trade surplus of 533 mln dlrs in january compared with an upward revised 965 mln dlrs surplus in december statistics canada said
in a filing with the securities and exchange commission conrac said its board of directors authorized its financial and legal advisors to explore a several alternatives to the mark iv offer which it said it considers inadequate
february imports rose to 1394 billion from 1235 billion in january against 1567 billion in february 1986
we will consider its relation to the punta del este declaration to correct trade problems and expand market access the us ambassador said
allied lyons sees no change in hiram walker stake
ecuadors cepe names new head
around the auto industry there is talk of mergers and buyouts among dealerships and there are rumors that the largest are considering offering shares to the public analysts say
world group pre tax profit 263 billion marks vs 304 billion
according to the times of zambia the imf team led by assistant director for africa paul acquah is due to conclude its talks with the government on schedule on march 23
amc also said the award has not been confirmed by a court and faces additional legal challenges
baker said we simply believe that more discretion and policy influence should lie with the parties which contribute the lions share of resources he pointed out that despite tight budget problems the reagan administration has asked congress to finance the iadb and other multilateral development banks
sheikh abdul aziz said plans to limit expenditure in 1986 87 had been taken in order to relieve the burden placed on the countrys foreign reserves
the country will have to continue imports of sugar and draw down stocks to meet market demand it added
vista managemement inc said it has obtained notice of the availability of insurance guarantees on 60 mln dlrs of leasing receivable bonds of its cbs leasing subsidiary from developers insurance co allowing the bonds to be rated by leading credit rating agencies
once interest on brazils debts becomes more than 90 days overdue us and canadian banks must put the loans on non performing basis and may book payments only as and when they are received instead of accruing the interest in advance
the supplies shortage should prove temporary however because the thai cabinet is expected to review a mineral resources department proposal to reinstate the low taxes late this month yoot said
that is 122 basis points more than the yield of comparable treasury securities
jamaica bought us corn wheat and rice at its tender earlier this week using pl 480 funds a us department of agriculture official said
he said cip has been using the pulp on a trial basis to make newsprint containing 90 pct kenaf fibre and 10 pct softwood fibre at its trois rivieres quebec plant
we have decided to coordinate repayment of our debt with realistically assessed capabilities of our economy he said in parliament
he said the february employment gains are consistent with his firms first quarter us real gross national product growth forecast of 37 pct
the monetary sources said the reorganization has caused some bad feelings and charges that promotions and other personnel actions have been based on personality rather than ability
the study noted that the effects of last years lower prices were having a dampening effect on total supply which was now back down to around levels of a decade ago
pcgg sources said smc the philippines largest food and beverage manufacturer has agreed to sell 14 mln b class shares from the 381 mln shares to australian brewer alan bond at a price of 150 pesos per share
strip mill plate prices will rise by 3 4 cts per pound
the united states has been considering the possibility of seeking access to a military base in zaire but no decision has been reached
dealers in oil markets were now waiting to see if opec was able to control production or whether the days of cheating and producing over quotas has begun anew it reported
exchanges and telecommunications authorities should abolish their restrictions on full and free dissemination of information to the investment and banking communities holdings plc rtrsl chairman sir christopher hogg said
inflation was zero last year
the government originally intended to float the munitions and explosives concern on the stock market but last july said a private sale was a more appropriate way to dispose of the firm
the central bank said the lower surplus was mainly due to the decline in the value of exports and re exports to 372 billion dirhams from 542 billion in 1985
heritage it and tele communications made required hart scott rodino filings with the federal trade commission and justice department on march 11 and 12 respectively
the us treasury said its auction of 976 billion dlrs of 52 week bills produced an average rate of 592 pct
while in the us earlier this month soviet agriculture official viktor nikonov predicted that the grain crop would be as good or better than last years 210 mln tonne harvest
and if the us trade deficit does fall the japanese will have less money to invest
brazil the third worlds largest debtor last month declared a moratorium on interest repayments
although the heavy placements were expected analysts noted reports that many cattle put on feed were relatively lightweight and said feedlot operators would feed the lighter cattle into the autumn rather than market them during the summer as would be the case with the heavier cattle normally placed on feed
brnf liquidating trust sets distributions
moodys pointed out that neither texas air nor continental have assumed the debt service obligations of people express which currently carries b 3 senior secured debt and caa senior unsecured debt
the us supreme court decided in mid 1985 to permit the mergers
but david healy of drexel burnham lambert inc said the repurchase program is not a positive
concorde ventures inc in merger agreement
1986 figures restated
president corazon aquino last month asked smc and ucpb to set up a three man arbitration panel to resolve the ownership issue
the company said it will also receive an additional 100 to 250 mln dlrs in five years based on the operating performance of the unit
shr seven cts vs 26 cts net 200000 vs 450000 revs 7291000 vs 1177000 12 mths shr 37 cts vs 77 cts net 801000 vs 1329000 revs 26 mln vs 286 mln note 1985 year includes extraordinary gain of 10 cts per share
this was down from 140 pct in february last year
nv nederlandse gasunie of the netherlands has signed a 328 billion yen bullet loan agreement arranger mitsubishi bank europe sa said
qtly div two cts vs two cts prior pay may 22 record may eight
i dont think we can talk of write offs even the poorest countries have not asked for that he said
ibc is made up of interstate management first boston inc fbc and george k
bolivia has frozen payments on medium and long term loans to commercial banks since march 1984 and nogales said there would be no money available to restart traditional debt servicing to them for some time
the hole is 460 feet east of the previously reported first hole
officials of the joint venture bank said they benefitted from contacts made through its three chinese partners
we wanted to remove our clients from the process unfolding between gencorp and wagner and brown he said
the 1979 81 inflation following strong 1977 78 money growth reflected other causes such as rising oil prices and the falling mark
venezuela prepares debt term sheet for banks
bank of montreal hopeful on brazil president
goldman sachs co managed the debenture deal
new rates previous in brackets were average cd rates all banks 427 pct 432 money market certificate mmc ceiling rates for the week starting from march 2 352 pct 357 average cd rates of city trust and long term banks less than 60 days 433 pct 432 60 90 days 413 pct 437 average cd rates of city trust and long term banks 90 120 days 435 pct 430 120 150 days 438 pct 429 150 180 days unquoted unquoted 180 270 days 367 pct unquoted over 270 days 401 pct unquoted average yen bankers acceptance rates of city trust and long term banks 30 to less than 60 days unquoted 413 60 90 days unquoted unquoted 90 120 days unquoted unquoted
we have not had a period of profitability of this magnitude since last summer levitt said
gobert said he believes the transcanada offer is at the upper end of what i thought somebody would pay for dome the transcanada proposal would pay domes creditors 387 billion canadian dlrs 290 billion us dlrs with another one billion canadian dlrs 750 mln us dlrs available to secured creditors if the dome subsidiary earns profits above a certain level
shr 248 cents vs 178 final div to announced after july 1 vs final 10 cents making 15
pace also said it may purchase additional outstanding notes in the future
about 50 onshore and offshore exploratory wells will be drilled under the agreement and chevron will be the operator of the project and pay some costs the company said
other income rose to 251 mln dlrs from 220 mln dlrs last year
cook strait ferry sailings resumed after marlborough harbour board workers returned to work this morning ending their industrial action a day early
moscow outlined its economic targets for 1988 on monday putting the grain harvest goal at 235 mln tonnes
in addition the minority interest and deferred income taxes attributable to standard oil would be excluded from british petroleums capitalization
dealers said recent securities repurchase pacts had shown the bundesbank clearly wanted call money rates stable at 380
the agreement signed last september aimed at halting predatory japanese pricing policies and increasing us semiconductor firms access to the japanese market
the commodity credit corporation ccc has amended its export credit guarantee program line to haiti to add one mln dlrs in guarantees for sales of us wood products the us agriculture department said
he remarks were made in an address to the national petroleum refiners association meeting
s p downgrades baker bko upgrades hughes ht 
data card corp said it does not expect to meet its earnings and revenue targets for the fiscal year ending march 28
under the pact japan pledged to stop dumping microchips in the us and asia and open its domestic market to us semiconductors
cargill is reported to have withdrawn its enquiries for cargoes from south korea to india from constanza to india and from buenaventura to the us
greece responding to a warning by turkey against conducting oil activities in the aegean sea said today it had the right to decide where and how to do research or drilling work in the area
as the government had to buy back some of the coins from retailers because they were unsold the governments contribution to the economy in the fourth quarter may have been boosted economists said
total futures and options turnover last month was 822378 contracts down from januarys 881778 but sharply above the comparative february 1986 figure of 463146 lots it said
periquet said the question of political stability no longer worried filipino businessmen who had already started expanding existing businesses or investing in new areas
nippon steel corp nstctok said it will cut its capital spending by 364 pct to 105 billion yen in the year starting april 1 from a year earlier due to the postponement of furnace improvements
only this will boost enthusiasm it said
westpac in nz raises indicator lending rate
the joint bookrunners are tokai international and daiwa europe ltd
shr loss 28 cts vs loss 29 cts net loss 2086477 vs loss 1466907 revs 218864 vs 60000 avg shrs 7510781 vs 4990168
1986 net both periods includes charge 6300000 dlrs from elimination of investment tax credits
problems concerning cash bond delivery and clearing are major obstacles for an early launching at liffe said koki chiyojima deputy general manager of nikko securities co ltds bond administration division
vontobel noted that many borrowers already came to the market with ratings from the major us agencies which were readily available to professionals through specialised information systems
mitsui and co buys stake in imatron
the sugar was reported sold at around 160 dlrs a tonne c and f for july august shipment or arrival in september they said
wildlife unit proposes alaska refuge oil study
trizec corp ltd said it plans a 17125 mln dlr issue of class a subordinate voting shares consisting of five mln shares at 3425 dlrs each
proceeds will be used to finance allieds acquisition of vons cos inc
responses are due by april 3 and the financing is being syndicated among a broad based group of international banks to diversify the borrowers traditional lending base
exports rose to 407 billion us dlrs from 385 billion in february and 299 billion in march last year
weyerhaeuser said it sees significant increases in earnings in 1987
net 529 mln vs 219 mln note company is mutual savings bank
legislation giving state rail authorities a monopoly over grain shipments was one notable impediment it said
bp units seek five billion dlr revolving credit to support standard oil tender
we reached a very sensitive compromise there were no real winners or losers some european community delegates were not satisfied that important points were fully discussed during the talks and as a result doubted the rules can deal with world surpluses as effectively as they could have delegates said
the inland revenue would be told to consult urgently with lloyds about the details of the legislation he said
the key to a solution in this area seems to me not in the framing of the gatt general agreement on tariffs and trade wording but in tackling government subsidies to farmers on both sides of the atlantic he said
sucralose is a chlorinated derivative of ordinary sugar
microsoft corp msfto 1st qtr net
but it wouldnt be good to have short term fluctuations he said
the dollar fall was one means of reducing the massive us current account deficit
versatile corp said it agreed in principle to sell its alberta based versatile noble cultivators co division to vicon inc of ontario for undisclosed terms
company spokesman dale coffin said the investigation could take from a few days to several weeks but would not be more specific
i think the market is going to be looking at some other things and accentuate whatever the action of cash markets might be early next week jerry gidel livestock analyst for gh miller said
bolivias top union leader today joined a hunger strike by 1300 state employed miners and workers to press for higher wages he said
we at all times told the public everything we knew about the costs he said
shr 24 cts vs 13 cts net 1506000 vs 824000 sales 9045000 vs 7845000
ugo said the price paid included outlays for the laboratory technology and staff
intense rains in recent weeks did not affect crops since rainfall was slight in most main soybean producing areas
announced last february 28 the plan froze prices fixed the value of the new cruzado currency and ended widespread indexation of the economy in a bid to halt the countrys 250 pct inflation rate
the banker said such buying has not been going on
the selling concession is 1 1 4 pct while management and underwriting combined pays 3 4 pct
howard who leaves for japan tomorrow told he will try to promote understanding on trade issues during his visit
uk to sell off remaining 317 pct stake in bp
in recent months dome has normally moved by only a few cents per day
bankers hopeful on philippine debt talks
german government needs seen raising bond yields
the seasonally adjusted current account surplus also dropped to 84 billion dlrs in february from the record 883 billion set in january
we have not agreed to anything guinn said but added he would soon recieve a feasibility study on the venture and the company would make a decision soon on participating
thl holdings inc year jan 31 net
the spokesman added that tre chairman leopold wyler had been interviewed by the sec probers
genex corp said it has completed an agreement for eberstadt fleming venture capitals plant resources venture fund ii and morgenthaler venture partners ii and accounts managed by citicorp cci to provide it with a four mln dlr interim credit line
but prices should be somewhat higher than the present levels to justify development of the juha field he said
the rating agency noted that nomura securities has by far the largest capital base in nominal terms of any securities firm in the world and is conservatively leveraged
anz managing director brian weeks said recent developments in the money markets are of deep concern to all participants market participants are understandably nervous and cautious about future developments
despite current strong interest in gold mine stocks many investors still want to buy physical gold witte said
soft wheat exports in 1987 88 were extremely difficult to estimate at this stage both within the european community and to non ec countries an onic official said
in addition homestake has two lines of credit totaling 150 mln dlrs which have not been drawn on and could be used to finance an acquisition he said
it may buy the wheat valued at 70 mln dlrs between march 25 and august 341 and ship it from us ports and or canadian transshipment points by september 30 1987
it will buy back at par plus accrued interest the 1635 pct issue in may and the 1620 pct bonds after august one
the us department of agricultures forecast that french end of season soft wheat stocks will almost double in 1987 88 is premature but would not be surprising according to french cereal organisation officials
also dallas based uccel had engineered a strong comeback from the dark days of 1982 when as wyly corp it lost 77 mln dlrs or 56 cts a share
he called the present situation more difficult and in a draft proposal included in the task forces report suggested setting up an institution possibly within the world bank with a fund that could deal with a future debt crisis
the statement said ministers were very disturbed by us moves towards protectionism
chemlawn said its rights holders can buy a share of its common for one dlr if any entity acquires 25 pct or more of its commmon other than by an all cash tender offer for all its shares or an approved acquisition agreement by its board
cut were the companys senior debt to bb minus from bb and subordinated debt to b plus from bb minus
vista management inc gets bond guarantees
it said the estimate for domestically produced sugar supply for the same period was revised to 190400 tonnes from the earlier estimate of 195100 tonnes while imports were revised to 402000 tonnes from the earlier 435800 tonnes
underwriters are dominion securities inc gordon capital corp merrill lynch canada inc mcleod young weir ltd wood gundy inc and brown baldwin nisker ltd
following a ruling earlier this year from the federal high court deutsche had included its non bank holdings in the balance sheet section participations christians said
officials said when the cut was approved last month that it was aimed partly at compensating banks for higher interest rates
but on january 28 the dollar closed at 15150 60 yen after dipping as low as 15040 yen earlier in the session
although he recently received clearance from the federal trade commission to raise his stake in the company to 249 pct lindner in previous sec filings has always stressed that his interest in taft was for investment only and not was not seeking to control the company
non callable for two years the debentures are rated b 2 by moodys and b by standard and poors
but januarys sales were revised down to a 74 pct drop from a previously reported 58 pct decline
japan is expected to send a high level official to washington early next month to try to convince the us not to go ahead with the tariffs on april 17
year ago shr data restated to reflect two pct stock dividend of december 1986
reed pointed out the us administration and the soybean industry view the ec proposal as violating the general agreement on tariffs and trade
elders resources ltd first half ended dec 31
beneficial bnl unit sale approved
canadian roxy said drilling has started on a follow up exploratory well about one mile northwest of the discovery well
sainsbury bought about 21 pct of the stock in 1983
dome petroleum ltd shares moved higher in the us and canada after transcanada pipelines ltd trp made a 43 billion canadian dlr bid for dome and dome said it is in talks with two other unidentified companies
acme precision products inc said a management group has withdrawn a six dlr per share leveraged buyout offer
south korea raised its pre tax ex factory naphtha price to 10421 won per litre from 10397 won effective today energy ministry officials said
swedens stora kopparbergs bergslags ab skps st said it had now acquired 90 pct of shares in rival pulp and paper makers papyrus ab thus passing the threshold above which it can compulsorily buy the rest of the company
he declined to name terms
the fall in unemployment is bottoming out and the government has already admitted it will not meet its goal of reducing unemployment by an annual 50000 from 1986 to 1990
non redeemable for two years the debentures have a mandatory sinking fund beginning in 1998 calculated to retire 70 pct of the issue prior to maturity kidder said
last year about 18 pct of the utilitys revenues came from new mexico 70 pct from retail electricity sales in texas and 12 pct from wholesale sales under federal regulation
the agreement limits it to trading physical cocoa and expressly says it cannot operate on futures markets
so far in the current year the investment volume of the parent company and the world group is exceeding that in 1986 basf said without giving concrete figures
dreyers grand previously reported 1986 earnings of 6614000 dlrs or 90 cts per share down from 7960000 dlrs or 108 dlrs a share
first time contributions from recent investment and acquisitions mainly in speciality chemicals and minerals also aided performance
the philippine proposal together with argentine suggestions that exit bonds be issued to end the troublesome role of small banks in the debt strategy would help to underpin the flagging role of private banks within the plan the official said in an interview with 
repayments in the december quarter accounted for 14 billion dlrs against 260 mln in the september quarter and 334 mln a year earlier
we favor shortening the disclosure period to two days shad told members of the house telecommunications and finance subcommittee when asked for his recommendation
pentland to reduce reebok rbk holdings
it said the issues consist of 150 mln dlrs of non callable notes due april 1 1994 which are priced at par with a coupon rate of 8 1 2 pct and a 300 mln dlr issue of notes due april 1 1997 with a coupon rate of 8 3 4 pct and priced at 99447 to yield 883 pct
group has 52 pct of distributed logic dlogo 
the subsidies were needed to support the fertilizer industry including importers exporters producers and distributors he said as well as assisting in small part the majority of indonesian farmers
average production costs for crude oil and natural gas declined nearly 30 pct to 341 dlrs per bbl of oil equivalent in 1986 from 481 dlrs in 1985 unocal said
san paolo said in a statement that subject to obtaining official authorization from the relevant bodies it would merge valley national bank with its subsidiary first los angeles bank value of the planned acquisition was not disclosed
entertainment marketing was informed on june 25 by shearson lehman brothers inc acting on behalf of crazy eddie that it would be provided with certain information about crazy eddie it told the sec
about 2308 mln dlrs of debt is affected
fees total 1 3 4 pct with 1 1 8 pct for selling 3 8 pct for underwriting and 1 4 pct for management deutsche said
thailands sugarcane output will fall to about 2355 mln tonnes in the 1986 87 november october season from 2409 mln in 1985 86 the agriculture ministry said
the usda reported high placements in february which may weigh on back months of cattle futures
total system services inc tsys 1st qtr net
from what brazil has said it is quite likely the banks will get the money said meredith
the company said the group plans to offer 1250 dlrs per share for the 15 pct of its stock currently outstanding
ashton tate tate 4th qtr net
results of the study which has not been released by oecd because of objections from some countries were provided to by officials of several countries on condition they not be identified
a survey of 19 provinces and seven cities showed vermin consume between seven and 12 pct of chinas grain stocks the china daily said
hard currency foreign exchange reserves would stay at around 35 billion dlrs he said
also affirmed were gms aa preferred stock and gmacs aa minus subordinated debt and a 1 plus commercial paper
shr 17 cts vs 28 cts net 2668000 vs 3655000 revs 939 mln vs 838 mln avg shrs 157 mln vs 132 mln 12 mths shr 48 cts vs 58 cts net 7510000 vs 7482000 revs 2288 mln vs 1819 mln avg shrs 157 mln vs 129 mln note full name of company is audio video affiliates inc
this would be required by us banking regulations if the interest payments are more than 90 days overdue
they gave no detailed breakdown
shad said he opposes proposals to require those attempting takeovers to file a statement on the impact the takeover would have on the communities involved
fifteen countries in eastern and southern africa have agreed to cut tariffs on regional trade by 10 pct every two years up to 1996
he said 18 to 19 billion dlrs were eliminated by one time measures such as a temporary increase in taxes related to tax reform and sales of government assets
clearwater fine foods acquires channel foods
japan m 2 plus cd money supply rose 88 pct in year to february jan 86 official
a company spokesman told this will be the first time in more than 40 years taiwan has not exported sugar
the us said it remains hopeful they can reach an agreement and expressed optimism that such a consensus could be reached said an official who asked not to be named
mauritian sugar exports fall in february
salant said it has reached agreement for ray w
overall lyng predicted very little change will be legislated in the 1985 farm bill this year
american television and communications corp said it has completed the acquisition of manhattan cable television inc from time inc for about 9400000 class b common shares
south korea to resist currency revaluation
under the plan its board declared a dividend distribution of one right for each outstanding common share held as of march 16
proceeds will be used to redeem all outstanding series 50 53 and 54 bonds each with final maturities of 2008 and bearing interest at 10 pct 9 7 8 pct and 9 3 8 pct
huckaby said congress is unlikely to approve any changes in the sugar program this year despite a reagan administration proposal to drastically slash the program
aluminium capacity growth trend seen insufficient
he noted that new zealand bought its bananas from ecuador
hunt manufacturing co hun 1st qtr net
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
more than 250 mln dlrs have so far been channelled into the industry in a bid to improve efficiency and profitability under the five year restructuring plan
intrepid museum continues reorganization talks
transcanada pipelines offer is to dome management not to shareholders
colombias main oil pipeline attacked
primary gilts dealers need not buy at auctions
it said the government and private exporters shipped 36552 and 38608 tonnes respectively
the visible goods surplus excluding energy fell by 56 billion guilders in 1986 to 114 billion due to declining terms of exchange while more goods were imported as consumer spending and investment increased
he said needed economic adjustment will require a relative shift of financial and real resources into internationally competitive industry
the ministry said construction output fell 13 1 2 pct in january february against november december due to the cold january weather
federal paper fbo offers preferential shares
cd bramall plc said in a statement accompanying its annual results that it proposed to acquire gelco uk for some 263 mln dlrs
the olivetti spokesman was responding to a query about italian press reports today saying that olivetti might participate in the venture with a two pct stake
the four issues now offer investors striking prices for gold ranging from the indosuez issue at 410 dlrs an ounce the same price as the underlying commodity to a 430 dlr level on the first one for citibank
the trade bill will be wrapped in with legislation from other committees dealing with relaxation of export controls incentives for research expanded worker training and education and other efforts to increase us competitiveness
if anything the us decision to slap tariffs on japanese electronics goods should support the dollar against the yen because it will cut japanese exports to the us he said
sales would in such circumstances go up to six billion crowns from 365 billion in 1986 it said
no decisions are likely until after indonesias elections on april 23 traders said
he said that now was the time for major nations to act under the paris accord
undersecretary of state michael armacost will visit tokyo next week for meetings with high level officials that will include discussions of a growing trade row over japanese semiconductor electronics products
hokkaido takushoku convertible eurobond coupon cut
25 57 n long
the certificates are not liable to stamp duty
he said there were indications now that the trade deficit was beginning to level off
suspensions parts industries ltd spilf year
figures from the banking information service showed personal sector lending by uk clearing banks rose by 166 billion stg in september after a 978 mln stg august rise
officials said the controls have helped soften the effect of a recent 10 pct devaluation of the shekel
this years net included 700000 dlrs from the sale of assets while last years was increased 30 mln dlrs by such sales
merrill lynch and co said it feels the cut in its credit rating by moodys investors service is not justified in view of the companys improvement in profitability and increase in equity capital in 1986
the disaster aid bill introduced by rep
there are plenty of capable firms steven w
cargill uk strike talks to continue monday
the central bank had placed buy orders at that level and prevented the dollar from falling when it came under heavy selling pressure from investment trusts and trading houses they said
some analysts said cotton farmers in the high yielding western states would be most likely to steer clear of the program
us exporters report 350000 tonnes corn sold to unknown destinations for 1986 87
sudan will find it difficult to meet scheduled debt repayments over the next five years finance minister beshir omer has told parliament he said sudans foreign debt rose to 106 billion dlrs at the end of last year an increase of 300 mln from 1985
pc acquisition has instructed its depository for the offer to return promptly the purolator stock deposited by or on behalf of tendering shareholders hutton said
ecuador energy and mines minister javier espinosa teran said last night his country needs 120 mln dlrs to repair the damage to the export pipeline caused by the earthquake
this number would be doubled with the addition of the equity warrant operation an even more important element in the current market environment he said
in the year ended february 28 1982 the co op reported income of 174 mln dlrs and patronage refunds of 170 mln dlrs
the european community ec agreed tough new rules to cut diesel exhaust emissions from trucks and buses in an attempt to reduce air pollution threatening vast stretches of the regions forests
it said through yesterday it had received 7424292 shares under the offer
the brazilian coffee institute today registered 14 mln 60 kilo bags of green coffee for may shipment an ibc statement said
usda estimated that an additional one mln acres of wheat would be ildled under 0 92 15 mln acres of corn 500000 acres of sorghum and barley and 500000 acres of cotton
the fall compares with a decline of 02 pct in december
both companies employ fewer than 200 seamen and union leaders said the vast majority of brazils 40000 seamen were still on strike
sumitas statement was issued after the dollar slipped below 150 yen to hit a record low of 14840
national heathcare inc said it signed an agreement to sell five rural hospitals to a private corporation for about 18 mln dlrs including the assumption of six mln dlrs of debt
edible oil supplies will total 175 mln tonnes in 1987 against 173 mln last year including domestic output of 160 mln against 155 mln
stacy described amoco canadas previously reported share offer proposal as a chance to increase canadian ownership of the countrys oil and gas industry now at about 50 pct
the department said the action reduces coverage for sales of dry edible beans to 500000 dlrs and creates the new line of 15 mln dlrs for sales of white corn
net yield on the preceding issue was 946 pct
ford f march us car production up
net 645 mln swiss francs vs 685 mln div 33 francs per share vs 38 turnover 403 billion vs 435 billion
fritz also said he thought the value of the bonus would end up being close to the offer washington made peking earlier this year when usda approved subsidies to china of around 36 dlrs per tonne on one mln tonnes of wheat
brokers choice capital inc said it signed a letter of intent to buy rubbertech inc
banks were well stocked with liquidity having 471 billion marks in minimum reserves at the bundesbank on friday up from 499 billion on thursday
hadson corp hadso completes acquisition
it was also up sharply from 27 pct a year earlier
granma said 20000 head of cattle are now in imminent danger
analysts have said firm prices for steel should contribute to better results at the nations major steelmakers
trade should show a one billion franc annual surplus this year and next after last years 05 billion surplus it added
national guardian natg makes acquisitions
uganda disappointed by coffee talks failure
baldrige said his remarks did not mean to suggest anything about the market or the exchange rate of the dollar
today foreign exchange buying pushed the mark up 10 guilder cents to 112705 guilders per 100 at the fix a level that would not permit a change in the interest rate differential between west germany and the netherlands dealers said
chinas grain imports will rise in 1987 because of a serious drought and increasing demand but will be not be as large as in the past chinese officials and japanese traders told 
chemical bank london branch will act as issuing and paying agent
monfort mnft soars on acquisition agreement
zccm officials are still cautious over what effects the break with the imf will have on the industrys plans
instead they have focused on medium term policy goals but left room to adjust their agreements with periodic meetings
japanese banks are setting up a jointly owned firm to which they will transfer some ldc loans in a bid to strengthen their balance sheets improve financial management and get tax breaks
over 32 billion dlrs of an estimated 60 billion in corn deficiency payments have already been announced with 142 billion dlrs 43 pct set in certificates
however some analysts said a 10 to 12 mln acre sign up may end up being negative to new crop corn prices citing trade talk earlier this year that 14 to 15 mln acres may be submitted by farmers
the cumulative effect of the change was to decrease retained earnings at dec 31 1986 by 140 mln dlrs
this compares with yearend 1985 proved reserves estimates of 264 mln barrels of oil and 786 mln mcf of gas permian said
consumers want price reviews at 12 month intervals instead of the 18 at present and the price revision mechanism to respond automatically to market trends
no bids were submitted for intervention barley
redlake corp 2nd qtr sept 30 net
lifestyle restaurants inc lif 1st qtr jan 24
proceeds will be used to finance acquisitions and for general purposes
neti chairman lawrence brilliant said in response to an inquiry that the software called docuforum transfers documents between separate locations over telephone lines
on or after august 1989 the company can call half the debentures if the stock trades for 30 days at 123 pct of the conversion price and half if it reaches 140 pct of the conversion price nivison said
the world bank and other independent sources have said inflation would be around 15 pct in 1986 87
proceeds will be used partly to finance the previously announced acquisition of belkin inc
a spokesman for governor perpich earlier said the governor is expected later today to recommend stiffening the states anti takeover law to help the minneopolis retailer defend itself
also cryssen refining inc 4000 bpd at 1547 dlrs edgington oil co 4000 bpd at 1554 dlrs sound refining inc 3100 bpd at 1551 dlrs atlantic richfield co arc 3000 bpd at 1575 dlrs
the breakdown was as follows in tonnes cotton 3002 6234 sunflower 86612 38347 linseed 23954 38290 groundnutseed nil nil soybean 264650 104571 bran polards wheat 37724 49946 fiber cotton 987 2121 wheat flour 1826 18335 rapeseed nil nil the board said
argentine grain board preliminary figures show 1986 87 crop export registrations of grains and oilseeds in the week to april 8 were as follows in tonnes compared with the previous week and the comparable week a year earlier
community bank systems inc and the nichols national bank said they have signed a definitive agreement for nichols to become a member of the cbsi group of banks for an exchange of stock worth 28 mln dlrs
uk money market deficit forecast at 450 mln stg
but in doing so they havent pleased everyone
champion said it estimates the project will be completed by the end of 1989
bp could also have bought up the remainder of standard shares considerably cheaper had it moved six months ago
it bid them at 98252 and set a 7 1 4 pct coupon and various reoffering prices for the maturities
early march opec output seen well below ceiling
di giorgio corp dig qtly dividend
dollar falls below 14500 yen in tokyo dealers
there is a consensus which we have to push further
deng sets limit to china grain imports paper says
soybean production could drop fractionally from last years 20 billion bushels to 18 to 19 billion he said
ncr corp earlier reporting higher first quarter profit said it continues to expect that it will report record earnings and revenue for all of 1987
the us official described the idea as a grain producers opec a reference to the organization of petroleum exporting countries and said it went against the reagan administrations desire to lessen government intervention in trade
the offer will include a partial convertible alternative under which shareholders would receive up to a total of 20569 mln new second convertible shares in williams instead of their ordinary share allocations
the companies also said the securities and exchange commission declared effective as of march 24 the registration statement covering the securities chemical will issue to texas bancshares shareholders as part of the merger
business leaders said before the meeting they would be pressing for less government interference in what they describe as a tightly regulated economy
republic american corp rawco 3rd qtr net
dairy farm said it will finance the acquisition by placing 89 mln shares with affiliate jardine strategic holdings ltd jarshk at 510 hk dlrs each for a total of 454 mln dlrs
ef hutton lbo inc said tender offer by pc acquisittion for purolator courier expired
moodys downgrades michigan general mgl debt
american was halted on nasdaq pending a news announcement
chemical bank the main bank subsidiary of chemical new york corp and marine midland banks inc said they were raising the prime lending rate to 7 3 4 pct from 7 1 2 pct effective immediately
industry analyst richard pzena of sanford c
banks must make their bids by 1400 gmt today
fees consist of a 1 1 4 pct selling concession and 5 8 pct combined management and underwriting
between october 13 and 16 barris industries bought 1322200 shares of media general class a common stock 4250 dlrs to 4550 dlrs a share in open market transactions and another 12000 shares privately
he did not elaborate
under terms of the acquisition sovereign shareholders will receive in a tax free exchange 01365 share of chubb common for each sovereign share held
the bundesbank did not intervene as the dollar was fixed lower at 18218 marks after 18243 yesterday dealers said
a three man japanese trade team is already in washington laying the groundwork for talks between kuroda and deputy us trade representative michael smith aimed at persuading the us not to impose tariffs on certain japanese products
the meeting is expected to go through early afternoon
waste management corp votes two for one stock split and boosts qtly dividend to 18 cts
french finance minister edouard balladur said that the financial community is closer to arriving at a system of target zones for currencies despite the fact that little is being said about them
brazil last month suspended interest payments on its 68 billion dlrs debt to commercial banks and froze short term trade and money market lines
due to a general recession in the world economy the demand for development funds was low and there was a scarcity of processable projects in most member countries during 1406 september 1985 86 the report said
s korea may buy us oil to aid trade balance
it said in most of europe and in japan raw materials and oil will cost less in domestic currency in 1987 than in 1986
while the two pct gdp growth forecast set by the cpb is within its latest forecast issued last month of 15 to two pct growth the figure is well above recent market estimates
the cso said industrial production in the three months to january was provisionally estimated to have fallen by 07 pct from the level of the previous three months while manufacturing output rose by 05 pct in the same period
we live in troubled and dangerous times for the world trading system he said
we may still probe to see what the parameters are byers said but people are very reluctant because they dont know where the central banks will be to intervene gillard said the mark could drop to a previous price consolidation area around 05250 based on the profoundly sluggish west german economy but that he would be a buyer at that level
the exchange said harcourt brace is a replacement selection for ltv corp
six pct forecast prices will fall against four pct a month earlier
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
infinite graphics inc infg 3rd qtr jan 31 net
peat marwick an accounting and management consulting firm and nolan norton and co an information and technology planning concern said they have merged
holland added that sprint was still paying almost 500 mln dlrs a year to american telephone and telegraph co t in order to lease its lines
alcan aluminum corp a subsidiary of alcan aluminium ltd said it increased its us primary aluminum prices by two cents a lb effective yesterday
however both types of issue had a drawback he said
the coruna based plant with an annual capacity of 27000 tonnes and a 55000 tonnes per year facility that emp will start up in tarragona next year will make the state refiner spains biggest producer of mtbe
1 1986 operating net income per share would have been 85 cts a share for 1986
nivison said that the deal contains a convenent which states that if the companys debt to equity ratio exceeds two to one the debentures cannot be converted unless the company obtains a bank guarantee or a letter of credit
latin american debtor nations are still willing to negotiate on their debts world bank director for latin america and the caribbean rainer steckhan said
the state owned capital of bimp comprises 251 mln shares
the premiums and discounts schedule are based on quality factors such as moisture content and kernel damage
usx x unit hikes crude oil posted prices
according to entertainment its company and its chairman own about 43 pct of crazy eddies currently outstanding shares
new plan realty trust npr 2nd qtr net
the bearers held mainly by foreign investors dropped 30 swiss francs to 460
the issue is guaranteed by the belgian parent
in other areas usx said total capital spending fell to 962 mln dlrs in 1986 from 178 billion dlrs in 1985
homestead financial hfl ups cash dividend
unless these are modified there are fears it would promote purchases of quality cocoas such as ghana origin which are normally required by manufacturers they said
ec rejects licences for spanish barley
oper shr profit 36 cts vs loss 148 dlrs oper net profit 1353000 vs loss 5551000 revs 113 mln vs 8142000 year oper shr profit 31 cts vs loss 158 dlrs oper net profit 1165000 vs loss 5919000 revs 380 mln vs 316 mln note net includes pretax unusual gain 64000 dlrs vs loss 4744000 dlrs in quarter and losses 30077000 dlrs vs 4744000 dlrs in year
in november it authorized a buyback of 20 mln shares adjusted for the split
alleghany corp y declares 1987 dividend
junk bond traders said they thought this to be the second largest junk bond deal ever brought to market
all employees at both locations will be retained it added
wang der hwa deputy director of the finance ministrys customs administration department told reporters the list of products included 60 items asked by washington
weirton steel corp 3rd qtr
witco named smith barney harris upham and co inc as lead manager and goldman sachs and co as co manager of the offering
share adjusted for three for two stock split
according to terms of the proposed transaction each share of datron common stock excluding those shares owned by the four officers will be converted into six dlrs a share it said
rod canion president and chief executive officer of compaq said he expects sales of over 200 mln dlrs for the period ending march 31 above analysts estimates of 165 185 mln dlrs
bulletin says tin price may rise to 20 ringgit
the png governments geological survey in a paper distributed at the conference estimates iagifu reserves at about 500 mln barrels
marcano said no mandate has yet been given for a planned 100 mln dlr bond issue although he confirmed that talks were continuing with morgan guaranty and other banks
total area planted with sorghum stood at between 12 and 13 mln hectares or 103 to 152 pct lower than the 14 mln hectares planted in the previous harvest
pier 1 imports pir declares stock split
allied said the statement covers 140 mln dlrs of senior subordinated discount debentures and 100 mln dlrs of subordinated debentures principal amounts with a proposed aggregate offering price of about 100 mln dlrs for each issue
fcs laboratories said its investment banker butcher and singer inc received a preliminary merger proposal from another company in the healthcare field
total vacancies available rose by 1900 to 26300 at end march
alatenn resources inc atng 4th qtr net
the european community ec yesterday warned japan and the united states its main trading partners that friction over trade issues is affecting the ecs relations with both countries
rogers corp said first quarter earnings will be up significantly from earnings of 114000 dlrs or four cts share for the same quarter last year
if the acquisition does not take place by april 30 either party may terminate the agreement the company said
in addition it said it is incurring significant expenses from management programs aimed at reducing costs and boosting productivity
principal neo tech sells unit
mitchell hutchins asset management inc a new york investment firm and subsidiary of painewebber group inc said it raised its voting stake in shaer shoe corp to 76000 shares or 75 pct from 52100 shares or 51 pct
you may be surprised if you come to see our plants
it seems to me the short of it is borg warner is kind of between a rock and a hard place
the median trade expectations for tuesdays us consumer price index and durable goods reports are up 04 pct and down 15 pct respectively
in investigations involving a processed agricultural product trade associations of processors or producers would have to petition for relief from foreign dumping or unfair duties
deutsche bank ag dbkgf has seen a slow start to 1987 after posting record profits in 1986 management board joint spokesman f
pay n pak stores inc said it received two proposals in response to its previously announced solicitation of potential buyers for the company
the heat and lack of rain combined to leave many soybean pods empty especially in cordoba
international dairy queen indqa 1st qtr net
you do not have those concerns with canada and you should sincerely consider exempting our country from that bill he added
january is the first major export month and the figures thus give a good indication of the current crop they said
the dinar is strong and stable and we intend to preserve its stability he said
sec says campeau unit violated disclosure rules
british petroleum company plc bpl has completed its merger with standard oil co of the us srd raising its holding to 100 pct from 55 pct bp said in a statement
tandem also won a major order from the bank of tokyo
the accord provided for capital goods trade between the two countries to rise to 20 billion dlrs over four years
the westpac perpetual notes are technically now the property of a newly formed single purpose finance subsidiary pacific securities
independent economists warn that the deficit could push inflation to between 60 and 100 pct in 1987 against the govenment target of 40 50 pct
linear lner sees lower comparable 4th qtr net
the central bank had also bought dollars against the yen in morning trade
major tanker operator japan line ltd jlitt is selling 20 vlccs and several bulk carriers for scrap or further trading industry sources said
hartford insurance group a unit of new york based itt corp said higher worldwide premiums help boost net income for the 1986 fourth quarter to 886 mln dlrs from net income of 367 mln dlrs for the 1985 quarter
idd information services said the 30 day corporate visible supply rose to 398 billion dlrs from 328 billion dlrs
shr profit 61 cts vs loss 45 cts net profit 3568000 vs loss 2598000 revs 346 mln vs 316 mln avg shrs 5861000 vs 5776000 year shr profit 56 cts vs loss 32 cts net profit 3374000 vs loss 1759000 revs 1320 mln vs 1316 mln note 1985 quarter net includes 665000 dlr tax credit
mees said government approval for the export pipeline followed a visit to aden by a high ranking delegation from the soviet union which will help south yemen construct the line the engineering studies for the pipeline are nearly finished and construction is expected to start early next year the industry newsletter said
japan february industrial production rose 03 pct 05 pct january drop official
in the letter general partners said it plans to maintain gencorps corporate headquarters in akron and retain the companys plastics and industrial products businesses and its tires and related products segment
keane inc kean 4th qtr
the pound surged to a high of 15798 808 dlrs at the london close up from the previous finish at 15650 60 and 28900 60 marks up from 28720 50
york financial corp parent company of york federal savings and loan association said its board of directors declared a five for four stock split in the form of a 25 pct stock dividend
vlsi technology inc said it plans to file a registration statement with the securities and exchange commission in mid april covering a proposed underwritten public offering of 50 mln dlrs principal amount of convertible subordinated debentures
oil analysts said that rtzs assumption of liability was shared by the industry as a whole
datametrics corp dmcz 1st qtr jan 31 net
he said they have everyones attention but it must be followed by a construtive plan he said that he expected brazilian finance minister dilson funaro who he met with last week to discuss the brazilian debt suspension action to return for further discussion but did not currently have a specific meeting arranged
hokuriku electric industry is issuing a 35 mln dlr equity warrant bond due may 7 1992 paying an indicated coupon of 2 1 8 pct and priced at par lead manager nomura international ltd said
reuiter
a 3163 mln dlr issue of bonds due 2001 was given an 8 1 4 pct coupon and priced at par to yield 112 basis points over comparable treasury securities and a 40 mln dlr offering of bonds due 2006 was given an 8 3 4 pct coupon and par pricing to yield 115 basis points over treasuries
in the east one in 12 banks had losses last year while one in four banks west of the mississippi river had losses
communications and cable inc ccab 1st qtr net
ual pilots said they would be willing to pay 45 billion dlrs which includes debt for the companys united airlines unit
mellon bank mel sells five year deposit notes
the distribution is scheduled for april six the company also said
they said that without further research and drilling in the area this summer they would not disclose any reserve figures
town and country jewelry tnc first qtr net
stop and shop cos in 2 for 1 split hikes dividend
but bankers said the reagan administration could promote accounting and regulatory changes to foster debt equity swaps and debt securitization and to enable banks to consider interest capitalization as an alternative to new loans
horizon financial services mortgage loans and horizon funding is a wholesale loan purchasing operation
the issue is unique in several respects and is only one of a handful of such deals to be brought to this market he said
the ministry of agriculture is concerned about the possible effects on human and animal health the official said
shr loss 57 cts vs loss 288 dlrs net loss 3442000 vs loss 13750000
he said american telephone and telegraph co long distance rate cuts had cut into mcis fourth quarter performance but added theres going to be a continuing impact on profits but we expect this quarter to be better than the fourth quarter the current quarter ends march 31
commerce secretary malcolm baldrige has asked the white house to consider blocking the planned japanese acquisition of a major us supercomputer and semiconductor manufacturer for national security reasons us officials said
african mines takeover
there is widespread agreement internationally that we have no alternative to floating currencies in the short to medium term
a few banks are unsure if they really want to get involved in the business
more
this is the first time we have been able to sell wood products in iraq he said
showboat sbo declares stock split
frazier was joined by susan hackmann senior grain analyst with agrianalysis and mark meyer a grain analyst with shearson lehman brothers inc on a chicago board of trade panel to discuss the reports
a clampdown on output over one or two years combined with a planned cost cutting and streamlining program and state support should help japanese yards recover their international competitiveness they said
btr nylex ltd said it will increase its takeover offer for borg warner corps bor listed unit borg warner australia ltd bwa to five dlrs each from four dlrs for all issued ordinary and preference shares
in a filing with the securities and exchange commission chavin said he bought 53500 myers common shares between march 10 and 31 at prices ranging from 5 1 2 to six dlrs a share
this winter however snowcover in soviet grain areas has generally been excellent so the bulk of winterkill analysts speculate likely has been due to a very dry fall and subsequent poor crop germination
moodys rates the debentures a 2 and standard and poors rates them a minus
these tradable dollar denominated zero coupon notes would have a maturity of six years but they would be redeemable at any time at par for pesos to fund investments approved as part of the governments debt equity scheme
the chicago board of trade cbot will introduce night trading in its us treasury bond contract on april 30 which could clash with simex morning activity banking sources said
revlon stands to make a substantial amount of money if someone else takes over gillette said analyst deepak raj of merrill lynch and co
tiger international tgr pays interest in stock
the harvest will be chinas second highest in history but poor weather and low incentives for grain producing farmers have kept yields down earlier chinese press reports said
amfac ama to sell store
storehouse convertible bond raised to 69 mln stg
the world shipping recession and the yens appreciation against the dollar depressed may orders he said
old stone corp said it completed the previously announced acquisition of first federal savings bank of north carolina a shelby nc savings bank for common stock
nine mths includes previously reported provision of 325 mln dlrs in second quarter for possible losses on ldc loans
magellan corp said its shareholders approved the merger of magellan with balzec investments inc a privately held company based in dallas
shr profit seven cts vs loss five cts net profit 303000 vs loss 205000 revs 16945000 vs 7695000 nine mths shr profit 27 cts vs profit 19 cts net profit 1161000 vs profit 787000 revs 392 mln vs 228 mln note profits include gains of 130000 dlrs or three cts a share in quarter and 490000 dlrs or 11 cts a share vs 52000 dlrs or one cent a share in nine months from tax loss carryforward
commonwealth bank cuts australian split prime
the cut follows the 107 dlr cut in pay workers received in 1982 and the wage freeze that has lasted since then zack said
thats the kind of deregulation we want until such changes occur sumitomo will focus on such domestic securities business as profitable government bond dealing and strengthening relations with meiko securities co ltd in which it holds a five pct share komatsu said
shr 127 dlrs vs not given net 5097000 vs 3164000 sales 481 mln vs 317 mln year shr 142 dlrs vs not given net 5194000 vs 3457000 sales 1004 mln vs 701 mln note company went public in may 1986
shr profit 14 cts vs loss 55 cts net profit 864000 vs loss 21 mln revs 242 mln vs 15 mln six months shr profit seven cts vs loss 74 cts net profit 434000 vs loss 27 mln revs 425 mln vs 29 mln note1986 2nd qtr and six months includes loss of 600000 dlrs and 285000 dlrs respectively from discontinued operations and exclude operations of action drug co inc acquired by companys 81 pct owned subsidiary technodyne in august 1986
record nz futures volumes traded in february
french ski equipment maker seeks euro cp credit
qtr ends feb 28 shr 18 cts vs 10 cts net 2051000 vs 901000 revs 258 mln vs 192 mln avg shrs 107 mln vs 9059600 12 mths shr 87 cts vs 63 cts net 9020000 vs 5680000 revs 944 mln vs 737 mln avg shrs 103 mln vs 9059600
1986 3rd qtr and nine mths net includes a loss of 59 mln dlrs or 20 cts a share from continuing operations mainly for employee layoff costs in oilfied services sale of small electronic business and unfavorable lease comitments
qatar has chartered floating storage for its crude oil after finding no buyers at official prices in march
unemployment fell in march to 36510 or 17 pct of the workforce compared with 39700 19 pct in february and 38839 22 pct in march 1986 the labour directorate said
prior year net both periods includes pretax charge of 2300000 dlrs from recapitalization costs
detroit edison dte sells bonds in two tranches
it was the first rate increase by the big banks in nearly three years
snyder
portuguese trade deficit narrows in 1986
the company said closing is expected by october 31
the rationalisation programme including sale of the bahamas oil terminal and all peripheral activities is now complete
thackeray corp thk year loss
but the report said all the institutes believed that more must be done to produce dynamic growth so that more additional jobs can be created the institutes said any step which improved basic economic conditions should be taken as quickly as possible
oil use in the 24 member countries of the organization for economic cooperation and development oecd increased by around one pct in the first quarter of 1987 to 359 mln barrels a day the iea said in its latest monthly report
frank and co a specialist unit on the amex trading floor
the association said generally low interest rates prospects of lower taxes a stable dollar rate and expected strong domestic demand led it to believe that the investment climate would remain friendly and the economy would continue its slow but very sure growth
now both oil and gas prices are severely depressed johnston said
commonwealth aluminum puts plant on the block
ackerly communications inc year loss
the company said it now has over 100 personal retailers marketing its products and expects to have more than 1000 by the end of 1987
shr profit 10 cts vs loss two cts net profit 140332 vs loss 21290 revs 4202305 vs 1692976 avg shrs 1400945 vs 1106500
the adjusted february index of producers finished goods base 1980 fell 13 pct to 1045 from january when it fell 03 pct from december
lane can constitute non compliance with its series a convertible subordinated debentures due 1996 and a default under its agreement with the merchants bank of kansas city
nuclear data cited improvement in printed circuit board sales and said it is confident it will obtain replacement financing
honduras seeking pl 480 vessels for bulk wheat
amertek inc atekf 1st qtr net
the acquisition represents a dramatic departure from managements stated financial policies s and p said
volkskas bank sees rand hinging on inflation rate
dan glickman d kan chairman of the house agriculture subcommittee on wheat soybeans and feedgrains said he would today introduce a bill to apply the so called 0 92 concept to wheat and feedgrains producers
freight rates on the gulf japan grain route have subsequently been the main beneficiary of current chartering conditions with very few if any panamax sized ships left for the remainder of this month in the gulf
audio video said the suit also requests the court to order cyclops to immediately provide to all potential bidders for cyclops all information given to dixons
several factors make us move cautiously nainggolan said
qtr ended april 30
avon products inc 3rd qtr net
an officer with korth said he belives his firm underwrote the first such issue eight or nine months ago for citicorp cci gmacs mangan said his company issued through korth in october 1986 a 50 mln dlr issue that carried two different price levels
a bank study carried by the emirates news agency wam said total oil revenues of the six gulf cooperation council gcc countries were likely to reach 39 billion dlrs this year from 335 billion in 1986
this meant dealers explained that investors who bought the bonds benefitted fully from price gains registered by the market in general although only 20 stg pct of the total purchase price was tied up initially
rates for five billion pesos worth of philippine treasury bills eased slightly at fridays auction with tenders totaling 1394 billion the central bank said
revlon group inc said it bought germaine monteils cosmetics business in the us from the beecham group plc
the spokesman said he believed japan should accept applications from the two rivals for fair review
they have proved to the iranians that any further action will be met with a like for like response
woods said many nations hong kong canada switzerland singapore sweden malaysia and nigeria had supported the ec complaint during the heated council debate
alliant and macneal schwendler sign pact
the economic report said meeting targets for commodity output would require unrealistic gains in productivity and industrial output targets appear too high to allow time to install more advanced equipment
administration officials familiar with the negotiations said brazils new economic measures did not make much sense based on current conditions in that country and added that they saw long and difficult negotiations ahead
i wish to emphasize that the growth in the volume of the external indebtedness of african countries reflects the full effect of the deflationary monetary and trade policies of the developed market economy countries mamman said
khamenei denied that the platforms had military gear or personnel and said the us attack lacked miltary value
index of economic spotlights see page ecra but no official announcement has yet been made raising eyebrows in west germanys business community
lawson expects interest rate fall soon
two japanese steelmakers capital spending falls
production meanwhile was unchanged from the previous year at 9109 mln cubic feet
bancroft said the suit also names michael b
goody products inc said it entered into an agreement to sell its j
the statement said such agreement currently being negotiated must place the debt within the terms proposed by brazil on september 25 brazil proposed to the private creditors a refinancing of the interest on its foreign debt that have expired or will expire up to 1989 totalling an overall 104 billion dlrs
although allied is no longer publicly traded since it became a subsidiary of campeau it still files annual and quarterly reports to the sec because it has outstanding debt
on the other hand it also saw no reason for sticking dogmatically to the money supply target for the whole of 1987
the surge in currency futures since friday on the heels of the reagan administrations proposed tariffs on japanese imports is likely to be curtailed in the coming week financial analysts said
the soviets are not in a desperate situation they dont have to buy grains now a usda official said
the eight year offer yields 594 pct to retail investors at issue and will go on sale on march 25
there are too many uncertainties said one arbitrager
finance ministry officials declined comment but said the ministry has been aware of growing calls from securities houses for 10 year bond auctions
royal bank of canada ryto 2nd qtr april 30 net
the savings resulting from the additional 35 mln acres idled would be a little over 400 mln dlrs in loan savings 35 mln dlrs in transportation and storage savings and 10 20 mln dlrs per year in deficiency payment savings the report said
shr loss 70 cts vs loss 57 cts net loss 20616000 vs loss 16854000 revs 231 mln vs 601 mln six mths shr loss 138 dlrs vs loss 102 dlrs net loss 40780000 vs loss 29996000 revs 610 mln vs 1149 mln
iea estimates on april one put oil stocks held in the oecd area at 428 mln tonnes or 98 days of forward consumption
westinghouse electric corp said earnings per share growth will exceed sales growth and will be in the double digit range through 1989
midwest cash grain slow country movement
hercules inc has been awarded a 1315 mln dlr contract for stage three follow on production work on the mx missile program the air force said
shr 34 cts vs 62 cts net 4717000 vs 8277000 revs 2134 mln vs 1587 mln nine mths oper shr 118 dlrs vs 154 dlrs oper net 162 mln vs 178 mln revs 5172 mln vs 4514 mln avg shrs 137 mln vs 116 mln note 1986 nine mths net exclude204000 dlr gain from reversion of pension assets
lower prices and the desire to delay any big purchases until the condition of winter and spring crops is better known make new crop wheat more attractive said george hoffman director of commodity analysis for the pillsbury company
dixons is tendering for cyclops shares at 9025 dlrs a share
malaysia sets 100 mln swiss franc notes issue
last years beet deliveries totalled 2022 mln tonnes down 554000 tonnes from the previous year
in a speech to the institute of contempory german affairs here poehl said it would be an extremely risky policy to aim for a further substantial decline in the value of the dollar to correct the trade deficit he said the united states could face a vicious circle of depreciation inflation and more depreciation if it took that route
etl said today it would offer 415 dlrs each for moniers issued capital of 15628 mln shares plus a share alternative
volcker says fed policy not responsible for prime rate rise
these purchases together with those made by county on 10 march represent about 48 pct of hillards issued ordinary share capital it said
shr 46 cts vs 42 cts net 3418000 vs 3129000 revs 247 mln vs 262 mln
france made a first repayment of 330 mln dlrs last november
ascs buys processed products for domestic use
the paris declaration did not state the levels at which central banks of the major industrialised countries would intervene
the group which includes ingemar rydin industritillbehor ab a swedish firm vbi corp a british west indies investment firm and norwegian investor erik vik said it bought 211300 scandinavia common shares since april 30 at prices ranging from 10000 to 10625 dlrs a share
the sources said the 500 mln franc nine pct five year bond for gillette canada led by banque paribas announced yesterday had been on the april calendar and was brought forward
general mills said at the end of the third quarter its return on average equity was 316 pct
the sale is part of its restructuring the company said
this would pose a challenge to competitors in europe and south korea
the recent two and a half week engineering strike which lead to some disruption in service could well have encouraged clients to consider using the mercury system odgers said
last week jacobs investment vehicle minstar inc and an investor group sold its 101 mln borg warner shares
new dutch advances total 48 billion guilders
some of this has been covered in the market here and more possibly will be traders said
investment companies managed by sarlos currently own slightly less than 10 pct of guardian mortons special shares
thomas lau evergos executive director declined comment on whether the group is seeking a further stake in hk hotels
the semiconductor industry association urged the us government to impose trade sanctions against japan for violating the us japan semiconductor trade agreement
sterling would have risen on the much better than expected number but for market nerves about the poll outcome they said
actual holdings on monday were 420 billion marks
jacobs suchard ag expects a world cocoa surplus of around 100000 tonnes in 1987 compared with a 104000 tonne surplus in 1986 jens sroka head of commodity buying told a news conference
in 1984 after three months of painstaking negotiations the us government reached accords with seven steel exporting nations australia brazil japan mexico spain south africa and south korea to reduce their shipments to the united states by about 30 pct in 1985
in a filing with the securities and exchange commission the group said it sold 70000 dba common shares between feb 13 and march 23 at prices ranging from 1825 to 2000 dlrs a share
west german cocoa grindings within expectations
shr 43 cts vs 41 cts net 316000 vs 298000 sales 4857000 vs 4543000
those who came tried to cut back on expenses chiefly by curtailing shopping it said
american dynamics is engaged in gas gathering transmission and liquids extraction also in oklahoma
it said it is currently holding talks with its creditors about a possible debt restructuring
mark resources inc said it agreed to sell 503 mln dlrs of securities to canadian investment dealers nesbitt thomson deacon inc gordon capital corp and first marathon securities ltd
the japanese understand that full well yeutter said
norway approves trade ban against south africa
to offset this us exports must continue to rise returning enough jobs to the manufacturing sector to boost personal income and consumption he says
spiller said there is a natural fit between both banks
it said shares will be mailed may 22 record may four
squibb sqb said not interested in buying cetus
the senior republican on the us senate agriculture committee richard lugar of indiana called for repeal of the cargo preference law that aids the american shipping industry but which he said hurts farmers
another 422000 tonnes was retained on farm and 620000 sold under the permit system introduced in 1984 85 to allow farmers to sell feed wheat to the grain trade outside the awbs receival system according to bureau of agricultural economics data
arab forex association elects new chairman
delhi petroleum pty ltd said a second gas flow has been recorded in the epsilon formation of the toolachee block on pel five and six signifying a new pool discovery
a new agreement covering the repayment of part of south africas foreign debt represents a compromise between that country and its commercial bank creditors following several weeks of intense and difficult negotiations senior banking sources said
they said the bank is coming in when the dollar is around 14905 10 yen the same levels as new yorks close yesterday and the midday close in tokyo today
gardner is an official of kelso management a firm associated with fidelity international ltd
dome announced its plan to 56 major creditors as well as public noteholders in march after several months of delicate negotiations
us retail sales rose 41 pct in feb non auto sales rose 15 pct
it extends until january 1993 the administrations authority to negotiate trade agreements as part of the new round of multilateral talks under the general agreements on tariffs and trade
sandoz corp a us subsidiary of sandoz ag is establishing a 50 mln dlr euro commercial paper cp program morgan guaranty ltd said as one of the dealers
dayton hudson dh march sales off 49 pct
the bank of england said it provided the money market with late assistance of around 550 mln stg
bankers said the repayment amounts essentially confirmed their private estimates and could be comfortably met by the monetary authorities
gross fees of 1 7 8 pct comprise 5 8 pct for management and underwriting combined and 1 1 4 pct for selling
nomura international ltd said it is using a special purpose issuing vehicle lives 2 ltd to repackage part of the denmarks 7 1 8 pct dollar straight issue launched by nomura on january 8 this year and due 1992 into a zero coupon 17 billion yen bond priced at 82 1 4 pct
under a long term supply agreement with condere it is anticipated that truck tires produced at the natchez plant will be supplied to the armstrong tire co an armtek operating company the company said
before the sale the government added the debt onto the british gas balance sheet
the dealers for the program are barclays de zoete wedd credit suisse first boston ltd goldman sachs international swiss bank corporation international ltd and sg warburg and co ltd
usair u has no comment on twa twa offer
the unit was formed last month when hoechst completed the acquisition of celanese for 284 billion dlrs
keating said the government expects economic growth to pick up moderately in 1987 88 due to a further significant rise in net exports and a very moderate but positive contribution from private domestic demand
most bank assets sold to hongkong bank of canada a unit of hong kong and shanghai banking corp in nov 1986
oper shr loss three cts vs loss three cts oper net loss 388000 vs loss 452000 revs 1425000 vs 1126000 year oper shr loss 26 cts vs loss 15 cts oper net loss 3604000 vs loss 2108000 res 5712000 vs 6604000 note 1986 net both periods excludes 413000 dlr gain from settlement of old obligations
that type of attitude has been a precursor to airline deals in the past said pettee
the company said the court has scheduled a hearing on the proposed settlement of the suit for july eight
holden brown declined to say whether second half growth in profit before taxes would exceed the 207 pct rise reported in the first half
the bank said it was also halving its yearly visa card user fee to six dlrs but would retain its 15 ct fee for each transaction
continued deferral of interest payment on these obligations could result in the loans being placed on nonaccrual status the banking firm said
we can negotiate them all samuels added
i believe there is room in the market for a further decline in interest rates reagan said in a statement as he left the white house to visit his wife nancy at bethesda naval hospital
holdings plc rtrsl said it had agreed in principle to buy i p sharp associates ltd of toronto for 304 mln stg
he added that the governments cut in its top income tax rate to 53 pct from 56 pct in 1988 would make it difficult for the government to reduce borrowings
the unit produces 46000 barrels of gasoline components a day
taiwan buys 340000 tonnes of us maize
brazil warns creditors against retaliation
the west texas intermediate grade was unchanged
the three year loan which will carry interest at 1 2 percentage point over london interbank offered rate will be borrowed under the name of daewoo industrial co hk ltd the loan will be used mainly to finance repayment of the the companys other borrowings
rexham corp a maker of packaging materials and machinery said it received an unsolicited offer of 43 dlrs a share from nortek inc ntk nortek a providence ri textile manufacturer has disclosed it holds 381050 rexham shares or about 91 pct of the outstanding the company said
quadrex corp quad 4th qtr jan 31 loss
it also said lower revenues from the last half of 1986 are expected to continue during 1987 but a strong cash and working capital position will enable foremost to go on developing traditional and new markets
hoechst celanese sets expansion program
the report which will focus on the cost of certificates compared to cash is scheduled to be released in mid march
in an unusually frank comment about the mexican deal he said that dissatisfaction with mexicos economic program and criticism of communication and coordination within the bank syndicate had prompted a number of banks to refuse to participate in the loan
ec sales to brazil total about 225000 tonnes during 1986 87 july june in stark contrast to only 50000 tonnes in the 1985 86 season it said
honeywell will retain a 425 pct interest in honeywell bull and bull will own an equal amount
top discount rate at uk bill tender falls to 91250 pct
the aim of the amalgamation is to limit regulatory and administrative costs and achieve the recognition required under the 1986 financial services act
texaco incs texaco canada said it will raise postings for its edmonton swann hills crude by 24 canadian cts a barrel effective june 20
a similar proposal is being fashioned by bruce morrison a house democrat from connecticut
earnings per share rose to 35p from 348p
general partners asked shareholders to either vote against the proposals or abstain from voting on them
shr 19 cts vs 38 cts net 397000 vs 788000 nine mths shr 80 cts vs 119 dlrs net 1674000 vs 2455000
this brings total help today to 841 mln stg compared with a liquidity shortage it has estimated at a revised one billion stg
invacare corp chairman president and chief executive officer a
denominations are one mln guilders and the issue price on a discount to yield basis is to be set tomorrow at 1000 hours local
uk money market liquidity position expected flat
evergo may want to split up the hotel management and property developments of hk hotels but that strategy may not fit the conservative kadoorie family said an analyst who asked not to be named
crs sirrine da to take write off
in a separate announcement the company said it received confirmation from the european patent office that sonex successfully defended its beta european patent from a competitor
new hampshire savings nhsb to buy bank
company corrects period in march 19 item
shr 11 cts vs eight cts net 248000 vs 155000 revs 4385000 vs 2487000 year shr 36 cts vs 12 cts net 720000 vs 220000 revs 152 mln vs 9253000 note share adjusted for 10 pct stock dividend in april 1987
nisshin steel co ltd said it will spend 107 billion yen in 1987 88 for rationalisation and facility improvements down from 321 billion a year earlier after completion of large construction projects in 1986 87
shr 1715p vs 1237p final dividend 55p making 75p vs 62p pre tax profit 394 mln stg vs 297 mln
michigan general corp mgl 4th qtr
things are normal
fees total 1 3 8 pct
outokumpu acquired two swedish copper manufacturers in january 1986 metallverken ab and wirsbo bruks ab that were merged into its copper processing division
the countrys other five smaller refineries owned by another state owned oil organisation petromin produced around 750000 bpd last year
gulf shipping sources yesterday reported an iranian warship had set the cypriot supertanker pivot on fire with a missile
the drafting of retaliation options follows the failure of high level talks earlier this month to resolve a case filed by the us national soybean processors association us officials said
ameritrust corp said its board proposed a two for one split of its common subject to stockholder approval at its may 14 annumal meeting
deputy us trade representative michael smith and makoto kuroda japans deputy minister of international trade and industry miti are due to meet in washington this week in an effort to end the dispute
the reserves the worlds third largest after japan and west germany now total well over 60 billion us dlrs
mindscape buys harcourt brace hbj unit
syms corp sym 4th qtr
taiwan curbs inflows of foreign exchange
the company said manitoba mineral resources ltd owns the remaining interest in the project which is located about 25 miles east of lynn lake
texon energy corp said it has entered into a preliminary agreement to purchase an 80 pct interest in a privately held specialty plastics manufacturing company it did not name
vulcan corps first quarter operating results will show a loss chairman lloyd i
the us benchmark crude west texas intermediate was trading today around 1860 dlrs per barrel
even before brazils move the difficulty in syndicating the 77 billion dlr financing package for mexico agreed to in principle last october was prompting top bankers to examine the way they are managing the debt crisis
oper shr five cts vs 29 cts oper net 151000 vs 867000 revs 127 mln vs 141 mln year oper shr 87 cts vs 52 cts oper net 2650000 vs 1565000 revs 547 mln vs 491 mln note oper data does not include 4th qtr 1986 extraordinary credit of 14000 dlrs or 4th qtr 1985 extraordinary loss of 139000 dlrs or five cts per shr
currency futures climb likely to be checked
team inc tmi 3rd qtr feb 28 net
a leading spanish broker said the central bank was applying a more restrictive policy to keep the lid on inflation
technitrol inc tnl 4th qtr
metex also said mason carter was elected president and chief operating officer of the company
matsushita electric industrial co ltd mct said it will issue a 200 billion yen unsecured convertible bond in the domestic capital market through public placement with yamaichi securities co ltd nomura securities co ltd nikko securities co ltd daiwa securities co ltd and national securities co ltd as underwriters
gillette has given an undertaking to intervene on the bourse until april 7 to prevent waterman shares from falling below 650 francs it added
aetna life casualty aet files to offer notes
jewelmasters inc said it expects to report net income for the year ended january 31 20 to 25 pct below analysts estimates of 1750000 dlrs or 95 cts per share
shr 15 cts net 36 mln dlrs revs 969 mln dlrs note the company said year ago figures are not comparable due to its reverse merger last year
eishiro saito head of top japanese business group keidanren spotted the dangers inherent in such contradictory views last november when he visited the european community
kistler said that under those terms the trustee could take up to 10 years to complete the sales
deputy oil ministers from six gulf arab states will meet in bahrain today to discuss coordination of crude oil marketing the official emirates news agency wam reported
fees comprise 1 1 4 pct selling concession and 5 8 pct management and underwriting combined
squibb will sell the drugs only in japan and other markets but not in north american and western europe
on thursday minimum reserve holdings declined to 570 billion marks from 600 billion on wednesday but were well above the 532 billion held on tuesday
at year end the company said it was operating 188 oshmans stores and 27 abercrombie and fitch stores
lvi and spectrum an asbestos abatement concern expect to close the deal in june lvi said
but the obligation for repayment of the debt remains with the original borrower
ny business loans fall 572 mln dlrs in march 11 week fed says
they have set this signal and indicated they could maybe lower market rates even further but not with the discount or lombard winfried hutmann chief economist of schroeder munchmeyer hengst investment gmbh said
us selling 128 billion dlrs of 3 and 6 mo bills march 30 to pay down 12 billion dlrs
in 1986 it repaid a record 597 billion in capital and interest reducing its overall debt by 996 mln dlrs
sea galley stores inc seag 1st qtr net
south korea unveiled the plan in november
in recent weeks oil prices fell to the 16 to 17 dlrs a barrel level on market reports of some ope members producing above their quota pushing total opec production to 158 mln barrels per day
swiss give argentina credit for nuclear plant
the company earlier this month said it will take a charge to earnings in the first quarter of 173 mln dlrs as a result of its deal to buy back 26 mln of its common shares from real estate developer donald trump
international technology corp said it expects to report a loss for the fourth quarter ended march 31 of about 20 cts per share compared with a year earlier profit of 11 cts
the company said hci will continue to operate its beverly plant as a subsidiary of microsemi
currency instability will not last sumita
we now wish to keep the countrys growth in order to be able to face the problems of the future funaro said
du plessis said the banks were showing much more confidence in the south african economy and country as a whole
the issue is guaranteed by bankers trust new york corp
at the borrowers request terms will not be disclosed until later this week when bankers expect the syndication to close
individuals who are very well off are also investing in the bonds to gain tax benefits while only small investors are going for equities or debentures floated by private companies on a selective basis the spokesman said
n malhotra said in a statement
us cold storage stocks march 1 frozen pork bellies lbs 34471000 vs a revised 34900000 on feb 1 and 51218000 a year ago
in another recent development systems for health care formally changed its name to its present form from orcas corp
the options can be exercised at 10 dlrs a share until december 31 1987 then at 1250 dlrs a share until december 31 1988 and then at 15 dlrs a share until december 31 1989
italys agip petroli buys stake in us company
taiwans trade surplus reached a record 156 billion dlrs last year up from 1062 billion in 1985
chicago milwaukees stock edged up 2 1 8 to 138 on turnover of 8100 shares as one of the biggest gainers on the nyse
these concerns were heightened by the may 17 iraqi missile attack on the us frigate stark which killed 37 seamen
the proposed legislation is aimed at preventing large oil refiners and marketers from using predatory or monopolistic practices against franchised dealers
a rise in global interest rates might worsen the debt crisis and completely choke off us economic growth that has already slowed to a tepid 32 pct annual rate
japan conducts currency survey of big investors
the west german federal railway is raising 900 mln marks through a 10 year loan stock on the domestic market with a coupon of 6 1 4 pct and price of par a bundesbank spokesman said in response to enquiries
the bankers traced the inspiration for the market back to the february report of us consumer prices for january when a jump of 07 pct raised again the threat of inflation
the company said shareholders of record on that date will acquire beneficial interests in the liquidating trust that will be formed to hold all of the companys assets
the investment in shearson lehman a growing firm described by some analysts as the top us retail brokerage will give nippon life a ringside seat and possibly lower commissions on wall street where it invests an increasing percentage of its assets of 902 billion dlrs they said
brazil and its bank advisory committee agreed to transmit a request for an extension of short term credit lines totalling 16 billion dlrs for 60 days until may 31 brazilian central bank president francisco gros said
italy deficit not due to liberalization minister
ford motor co said its ford motor credit co on april one will redeem 40 mln dlrs of its 870 pct debentures due april 1 1999
watanabe said progress was being made towards a merger agreement and added that japanese industry agreed with the government on having only one private consortium as two companies might invest excessive amounts
industries had complained they were losing sales to foreign competitors who were allowed to export freely products us companies could not sell abroad
midlantic said it will pay 8373 dlrs a share in cash or 236 times county bancorps march 31 book value for each of countys about 2760000 shares outstanding
shr 96 cts vs 53 cts net 8663000 vs 4798000 revs 897 m ln vs 668 mln nine mths shr 233 dlrs vs 167 dlrs net 211 mln vs 151 mln revs 2413 mln vs 1928 mln
mees newsletter says oman offers oil discounts
the sale will raise the bill supply to 1500 billion yen
nakasone sounds conciliatory note in chip dispute
such a plan would allow the united states to block any loan it did not like with the assistance of only one other country
us m 1 money supply rises 19 billion dlrs
shr 15 cts vs six cts net 1410000 vs 550000 revs 6901000 vs 2392000 avg shrs 10326000 vs 9064000 note prior qtr per share figure adjusted for two for one stock split of february 27
mexicos reserves reach eight billion dlrs
the company said specific details relating to purchase price and other terms will be released on closing of the transaction expected by may 15
evans said there were plenty of examples where targeted approaches to oil industry taxation had produced good results in recent years
in addition chase manhattan will be able to place commercial paper as agents for issuers and advise them on rates and maturities of proposed issues just as bankers trust was given authority to do
the association said in a statement deposit rates have also been increased by 1 4 to 1 2 percentage point
each warrant entitles the holder to acquire one non cancellable share certificate
the issue is being made to mark the 30th anniversary of the ecs founding treaty of rome this month
uk money market deficit revised to one billion stg
allied signal said commerzbank is expected to offer shares of the unit to the public later this year
correction march 30 yugoslav trade falls in belgrade item of yesterday yugoslav trade falls in 1st qtr on year ago please read on page one this year current exchange rates were used for the first time instead of a fixed rate of 26453 dinars to the dollar corrects from 2453
banks express grave concern on brazil debt moves
it said the division was closed as a result of 46 billion dlrs in debt incurred from a leveraged buyout last year
to make this possible the proposal calls for new legislation which would administer all related futures and options transactions under the same legal framework
that is 160 basis points over the yield of the off the run 9 1 4 pct treasury bonds of 2016
greece and the soviet union have reached agreement in moscow on a joint venture for a 450 mln dlr alumina plant in greece government spokesman yannis roubatis said
1985 year net excludes 35000 dlr tax credit
institutional investors appeared to have sold dollars to hedge currency risks ahead of the end of the financial year today miyazawa said
year on year inflation was six pct compared with the government five pct target for 1987
the industrial production index base 1980 stood at a provisional 1041 in february against 1009 in january and 1045 in december
analysts who know gaf predict heyman will either end up with borg warner or enrich his chemicals and building materials company in some other way
the workers current contract expires may 31
they are non callable for five years
dart said it continues to be interested in acquiring supermarkets general in a friendly manner noting it has given the company the tune that you suggested in order to allow you to evaluate the available options dart now owns 19 mln supermarkets general shares slightly less than five pct of those outstanding
he was asked about the companys fate on two occasions in meetings with leaders of the senate and house of representatives
us and canadian bank paper was still generally under pressure as was republic of ireland paper due to renewed worries about the irish economic situation
state quarantines have been placed on the two facilities in hunt valley maryland and schenectady new york
the base lending rate for state bodies such as the japan development bank peoples finance corp and the finance corporations of local public enterprises usually moves in tandem with long term prime rates the sources said
ongpin acknowledged there was a dispute over tactics
offsetting the decrease however is an authorization to increase fuel rates by 584 mln dlrs it said
greenspan does not have the sensitivity to these issues and the sense of understanding of their complexity that volcker has
fujitsu may assemble its own computers in us 
escagen corp said it has completed an initial offering of common stock raising 18 mln dlrs and has completed its previously announced purchase of the assets and business of international plant research institute
german stake
iran on sunday denied as baseless reports that it intended to threaten shipping in the gulf and warned the united states that any interference in the region would meet a strong response from tehran tehran radio said
but some experts worry that the chemical industry may be headed for trouble if companies continue turning their back on the manufacturing of staple petrochemical commodities such as ethylene in favor of more profitable specialty chemicals that are custom designed for a small group of buyers
canadian money supply m 1 falls 555 mln dlrs in week bank of canada said
daily transactions in the london yen cash bond market now stand at 200 to 300 billion yen but the extent of investor linked transactions is unknown securities bond managers said
bfg partial operating profits fall sharply in 1986
malaysias recovery from the worst recession in 20 years should receive a boost on friday when the government announces a reflationary budget for calendar 1988 after seven years of austerity economists said
the catalogue should include all ccc stocks stored at terminals and about 50 pct of the stocks stored at country elevators the spokesman said
klm royal dutch airways klmas said it agreed to take full control of a partially owned dutch based parcel delivery service and will offer a minority stake in it to british and commonwealth shipping plc bcoml klm seeking to strengthen its market position in the fast growing door to door delivery market said it agreed with dutch retailer vendex international vennas to take over vendexs 50 pct in their jointly owned courier xp system vof ownership of xp will now be brought into the talks started by klm last week with british and commonwealth for a one third stake in the latters iml air services group ltd courier
lifestyle lif bombay amend merger agreement
brazil is faced with a poor 1986 87 sugar harvest which could limit exports to the world market analysts said
gould gld sells french battery unit
foreign banking sources in manila said on tuesday that the philippines had raised its basic interest rate offer to 7 8 over the london interbank offered rate libor but ongpin would not discuss details of the pricing negotiations
citing the filing citicorp said that brazils recent suspension of interest payments on 68 billion dlrs of commercial bank debt and related actions may require citicorp to place 39 billion dlrs of intermediate and long term brazilian loans on a cash basis when loans are placed on a cash basis interest or principal payments are only booked when received instead of being accrued on their due dates analysts noted
although most provisions do not single out japan in many cases their impact would be to restrict imports of japanese products or make them more expensive with higher duties
kremlin leader mikhail gorbachev has described machine builing as a sector whose rapid modernization is essential if the soviet union is to compete effectively on world markets
lim noted andriessen this week promised that if the tax was adopted and third countries suffered export losses as a result they would be compensated through access to the ec for alternative exports
it said the redemption is part of a restructuring in which it has said it would divest itself of certain discontinued businesses repurchase shares and reduce long term debt
the company named goldman sachs and co as sole manager of the note and debenture offerings
other banking companies announcing prime rate rises included pittsburgh national bank texas commerce bank houston provident national bank first national bank of boston florida federal savings and loan association and suntrust banks
in money terms this equalled 36 trillion cruzados giving per capita gdp of 26120 cruzados or 16 pct above the level achieved in 1980 before the recession of 1981 1983 the institute said in a statement
gte corp 1st qtr shr 78 cts vs 86 cts
a similar proposal has made no headway in the house
murray ohio myo sees higher 1st qtr earnings
most of the minerals extracted and refined in the central peruvian andes are shipped down the central railway to the lima port of callao
finland had a 641 mln markka trade surplus in february following an 80 mln markka surplus in january and a 614 mln surplus in february 1986 customs board preliminary figures showed
central bank officials were not available for comment
the amc purchase shows a strongly aggressive move on chryslers part to increase market share at a time when industry competition is intensely competitive s and p said
overall they rose about two points on the day
such information is misleading and inappropriate the company said
multi step to sell ladder unit cancel shares
the person most closely associated with the anti imf stance is finance minister dilson funaro who was not present at yesterdays meeting
the department said the ussr dominated the weeks activity with purchases of 14 mln tonnes which were earlier reported under the daily reporting system other large increaes were posted for japan and unknown destinations it said
the us agriculture department has lowered its ascs terminal prices for low protein hard red winter and hard red spring wheat at a number of locations a senior usda official said
the world bank believes the baker initiative is the best approach he said
the sugar is for march 15 april 15 shipment and bids are being sought based on the new york may delivery futures contract they added
but even with a 65 to 15 vote in favour of the proposal the restrictions were weakened in the final version
bankers were more sanguine in the case of chile
however the us said it would reexamine the issue if by mid 1987 japan did not roll back import barriers to us rice exports
echlin ech buys stake in champion parts creb 
a portion of the new shares will be issued to holders of 575 mln dlrs of subordinated debentures all of which are in default
all the institutes predicted only a slight decline in unemployment
brazil oil output fell in february usage up
under the program notes in denominations of one mln dlrs will be issued with maturities ranging from seven days to one year
peter greenbaum of smith barney harris upham and co inc expects a one pct rise in income led by a strong gain in wage and salary disbursements in february
banks of mid america inc boma 1st qtr net
gevaert nv gevnbr 1986 year
the one sentence statement from bells headquarters confirmed what its brokers warburg securities told in london yesterday
us telecommunications giant american telephone and telegraph co tn which has been at the centre of the two year battle for cgct has teamed up with the dutch based philips telecommunications industrie bv a subsidiary of nv philips gloeilampenfabriek pgloas and societe anonyme de telecommunications sat to present a joint bid in association with holding company cie du midi sa mcdpp and five french investment funds
the unilever plc and nv una group saw improved performance in almost all sectors during 1986 the anglo dutch group said in its results statement
another 100000 to 150000 tonnes will be shipped during this month and around the same amount in april they said
qtr ended may 2 shr 29 cts vs 22 cts net 1975000 vs 1403000 revs 681 mln vs 540 mln avg shrs 6722527 vs 6597492 nine mths shr 117 dlrs vs 92 cts net 7847000 vs 6017000 revs 2097 mln vs 1757 mln avg shrs 6687138 vs 6549197
baltek corp said it has acquired a shrimp packing plant in ecuador for undisclosed terms
first national bank in mount clemens mich said it is seeking final regulatory approval to form first national bank corp a bank holding company following shareholder approval tuesday
act said it has not disclosed the deals terms but added that 50 pct of the sale price is in cash with the remainder to be paid over a two year period
cyprus minerals company said it is decreasing its electrolytic copper cathode price by one cent to 660 cents a pound effective immediately
ishrat husain the world banks representative in nigeria said yesterday he was satisfied both with the adjustment program as a whole and the foreign exchange auctions
iwc ups soviet grain 1986 87 import estimate three mln tonnes to 29 mln official
the payment date is april 30 and there is a short first coupon
non interest bearing sight deposits rose by 460 mln stg after a 15 billion stg fall in january and interest bearing deposits fell 200 mln stg after a 16 billion rise in january
gencorp agreed to sell rkos khj tv station to walt disney co dis for 217 mln dlrs
pacific securities will issue two instruments
first colonial bankshares corp fcola 1st qtr
gunnar said it and mill city can earn a 50 pct interest in tyranexs option to buy the tyranite gold mine by spending up to five mln dlrs on exploration development and feasibility studies by 1990
this rules out any possibilty of the fed tightening for exchange related purposes in march the average workweek fell back to its january level of 348 hours from 350 hours in february
sri lankan food department officials said the us department of agriculture rejected a us firms offer of 80 us dlrs per tonne caf to supply 52500 tonnes of soft wheat to colombo from the pacific northwest
lloyds said the attack occurred at about 2200 hrs local time 1800 gmt
the facility will allow the issuers to opt for notes not exceeding 50 mln australian dlrs and 50 mln new zealand dlrs on a non underwritten basis but the outstanding total is limited to 100 mln us dlrs bt asia said
effective with shipments beginning june 28 the price on carbon hsla and alloy plates will increase by 1 1 4 cts per pound
sheikh abdul aziz said our expectations of positive signs regarding oil price trends foremost among them opecs determination to shoulder its responsibilites and protect its wealth have helped us make reasonable estimates for the coming years revenue on the basis of our assigned quota
the ussr has purchased 10 mln tonnes of us corn for delivery in the fourth year of the us ussr grain agreement
the government is serious about getting down to work but there are many individual agendas for growth and no consensus
minimum interest rates for officially subsidised trade loans have also been revised with the aim of cutting the subsidies and ending them completely on loans to relatively rich developing countries by july next year
viceroy resource corp details gold assays
while low inflation permits the fed to maintain an easier monetary policy brusca said if import prices do not rise this could necessitate a weaker dollar
it was all very tentative
the february incomes rise was the largest monthly increase since a 12 pct rise in april 1986 the department said
iraq is the main supplier with 235000 bpd
brazil anti inflation plan limps to anniversary
a similar coupon pass may be required later
the form of the buyout has not yet been determined and the buyout is subject to a nunber of conditions it said
crown resources crrs plans energy unit sale
we are proceeding with our strategic plans he said
consolidated 1986 results for bnl which also has interests in tourism public works industrial credit and other sectors are expected to be announced later this year
cameron smail said that aside from traditional lines of business commercial union would like to move into other areas where it may not be able to fund the assets itself
reichhold rci raises some materials prices
us trade representative clayton yeutter said he hoped the us dollar would continue to decline in relation to the currencies of taiwan and south korea as a way to improve the us trade picture
if a move comes before march 17 forecasts are for a half point cut with another half or full point about budget day
discussing the ongoing negotiation baker said the us position is that the countries that pay in the most should have the greatest say over the loan decisions
national average prices for farmer owned reserve
hillsdown holdings plc hldnl said early results for 1987 were encouraging and the combination of its investment and acquisition strategies enabled it to look forward confidently for an excellent result for the year
japan does not plan to take immediate retaliatory action against implementation of us tariffs on some japanese electronic goods the minister of international trade and industry hajime tamura said in a statement
he added for us investors the cds are attractive because they are domestically issued paper with competitive rates offered by aaa rated japanese banks balaban noted that several fiduciary investors and money market funds which had never previously purchased japanese bank paper submitted bids during yesterdays sale
finance minister robert chien told reporters his ministry and the central bank would work jointly on new measures to ease the controls but he did not give details
the danger that exports will slump in 1987 appears all in all limited the report said
many cable television companies exhibit greater financial risk because of their asset growth aspirations and debt financed consolidation
big banks say it is unfair that small creditors continue to receive interest on old debt even if they do not contribute to new loans
tesco associate buys 42 pct of hillards
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
cominco cltto sees meeting with striking union locals
it said the offer is being extended to allow it to conclude talks with its lender and with representatives of the holders of 75 pct of the debentures on the terms of the offer
gencorp gy 1st qtr feb 28 net
jw mays inc mays 2nd qtr jan 31 net
ministry officials said the survey showed that the japanese economy is in a delicate stage in which it is hard to tell if economic growth has stopped deteriorating or if the economy is heading for a recovery
the sharp fall in international coffee prices will not affect colombias external credit situation finance minister cesar gaviria told 
the bond is callable for tax reasons only with a premium of one pct on may 21 1988 and 1989 with a premium of 1 2 pct on may 21 1990 and at par on may 21 1991
however lawrence cohn analyst at merrill lynch and co inc said that the markets nervousness was not really warranted
they agreed on a pricing system aimed to stabilise the market around 18 dlrs a barrel
net profit reported earlier fell 853 pct in the year ended february 1
1985 restated
american savings bank fsb abnyo 3rd qtr net
mexico says it will sign 77 billion dlr commercial bank loan friday
elimination of investment tax credits approximately offset gain from change in pension accounting company said
in recent weeks the 18 dlr level has come under pressure due partly to quota violations by some opec members
increased borrowings after the recent 320 mln dlr acquisition of the hsv seven television station in melbourne will hit earnings but networking with the channel sevens in sydney and brisbane will produce some offsetting cost savings
rumors of an impending deal have coursed through wheat markets since officials from the two countries held their customary semi annual grain talks in february
despite what could be a negative chart outlook leiner remains cautiously optimistic and june bonds should find support between 100 and 99 16 32 next week
i still presume that it will take place in the second half of march this banker said there would be no reason to postpone the issue of the 10 mln veba shares for a few days
fleet flt norstar nor s p ratings unaffected
in the second quarter last year merchants reported net income of 62 mln dlrs or 68 cts a share
shr 18 cts vs 27 cts net 283000 vs 435000 revs 978 mln vs 951 mln
the dollars weakness had wiped some 89 billion schillings off the balance sheet total
intellicorp inaio 1st qtr sept 30 loss
community bank system cbsi buys nichols bank
brentwood said in the suit the evaluations were misleading and has damaged its reputation
shr 68 cts vs 68 cts net 539 mln vs 532 mln assets 265 billion vs 222 billion loans 157 billion vs vs 133 billion deposits 138 billion vs vs 116 billion
the bulk of the 253 billion marks investment in new projects up from 294 mln marks in 1985 went on the capital increase of hoechst capital corp in connection with the acquisition of celanese corp celanese was merged with american hoechst in february to form hoechst celanese corp
current prices are not enough to justify increased drilling said ed malmgreen of the california independent producers association
we dont have all the details a norfolk southern spokesman said
qtly div 12 cts vs 12 cts pay july 1 record june 12
gaf corp said the management group led by chairman samuel j
pueblo international inc pii sets payout
leigh pemberton noted there had been excesses in takeover activity in the recent past
philippine long distance phi year net
in addition to the possible sale of the amusement parks bally plans to sell a minority stake in its health club chain to the public
s and p cited the companys announcement that it will purchase up to 54 pct of its common stock shares for 16 billion dlrs
glenn voiced a preference for a united nations multinational force or failing that an american british french force with cooperation from the gulf arab states
china has resumed repairs of soviet ships after a 23 year break caused by the ideological split between the two countries
tridel enterprises inc sets initial dividend
and newsweek said 52 per cent of those questioned believed the administrations accomplishments outweighed its failures
representatives of the republic of chile and its 400 plus international bank creditors started signing agreements to reschedule 106 billion dlrs of the countrys foreign debt manufacturers hanover trust co said
advanced telecommunications redeems debentures
kuwaits oil reliant and debt ridden economy has started to pull out of a nosedive but oil prices will determine the pace of recovery bankers and economists say
houston based shell oil co a unit of royal dutch shell group rd has been one of the most active companies in buying and selling reserves smith said
he estimated this cost at about 200 mln dlrs a year
we like to refrain from accusing them of not making enough effort industrialists such as eishiro saito chairman of the keidanren business group and sony corp chairman akio morita repeatedly accuse foreign firms of not making enough effort to understand japans markets and some foreigners agree
it grew into a nationwide business operation with 87 branch offices and 7000 employees at its peak in early 1985
non redeemable for five years the notes are rated b 3 by moodys investors service inc and b plus by standard and poors corp
but the government official said the surplus would be held at around five billion dlrs to avoid further pressure by industrialised nations to push up the value of its currency
dealers said they were uncertain about the size of the intervention but some said it was only for a small amount
lilco said none of these contracts will result in additional costs to its customers
non accrual loans rose to 286 mln dlrs from 132 mln at the end of the first quarter of 1986 largely because 119 mln dlrs of loans to brazil were put on non accrual status
in its 1986 annual report bil reported that it held a 19 pct stake in nzi
turkey is holding a buying tender for 100000 tonnes of white sugar on march 24 traders here said
listing is in luxembourg
in 1987 income will be higher private consumer spending is likely to recover and expand the budget will remain under strict control the resource gap in the governments finances on current account will be bridged over the near term bank governor jaafar hussein said in the report
while no firm figures exist dealers in eurobonds estimate that 80 pct of all new issues are involved in some swap arrangement
anadarko apc files to offer convertible debt
gencorp officials declined to comment on the statement but a spokesman reiterated a request to shareholders to wait until the board renders an opinion before making a decision on the offer
he would also not comment on when a better alternative might be developed
volume in the simexs nikkei stock index based on the tokyo stock market has risen to a daily average of more than 1000 contracts this month from 320 contracts last october helped by uncertainty during the recent bull run in tokyo stocks fong said
k tron international inc ktii 4th qtr net
may had an overall sales gain of 150 pct and k mart had a 131 pct sales gain last month
fees comprise 1 1 4 pct selling concession and 5 8 pct management and underwriting
ecuador squeezed by the slide in world oil prices in 1986 had only 138 mln dlrs in net international reserves at the end of january about equal to one months imports
britains gold and currency reserves showed an underlying rise of 1785 billion dlrs in march after a 287 mln dlr rise in january the treasury said
renouf sells 1083 pct nzi stake to brierley
iroquois said that based upon the defenses it will assert it does not believe that any charge against income is required as a result of the claim
contrary to predictions before the volcker resignation analysts are calling for higher currency futures prices between now and the june 8 venice economic summit
this experience will provide a foundation for the floating of other financial instruments in the near future through which the bank expects to mobilise even larger resources the report said
before the 337000 gain in february non farm payroll employment i would have looked for a discount rate cut in march he said
monier chairman bill locke said in a separate statement that the independent directors of monier intend to recommend acceptance of the etl bid in the absence of a higher bid
ownership of the combined company with 188 pct for the current shareholders of canadian bashaw and 812 pct to the current shareholders of erskine the companies said
colombia the only major latin american country not to have rescheduled its external public debt has a total foreign debt of 136 billion dlrs
oral proceedings are to begin on april 10
in the past three years multifoods has substantially altered its domestic business mix by divesting its us consumere foods operations and emphasizing growth in selected segments of the us foodservice industry
poehl looks set for eight more years at bundesbank
in january m0 fell by an adjusted 06 pct and rose by a non adjusted 41 pct year on year
inflation is expected to be 40 pct at the end of this year lawson said
since then they have stepped up purchases of foreign stocks and sought to deepen their understandng of foreign markets and instruments
the company today paid a dividend of 11646 dlrs per share
appalachian power said it will redeem the bonds at par plus accrued interest
trade representative clayton yeutter said on monday that the us free trade agreements with canada and israel should help to pave the way for liberalizing the global trading system
brazil debt poses thorny issue for us banks
1986 net includes 15 mln dlr charge for reduction in carrying value of refinery and related assets
the us trade gap last year was a record 1698 billion dlrs and continues to rise with japan accounting for about one third of americas overall deficit
whittaker corp 1st qtr oper shr 17 cts vs 25 cts
dufour said yes when asked whether the report was only a rumor but said the company was not prepared to comment further
there is nothing better than a free trade policy he said
magma lowers copper price 050 ct to 6550 cts
shr loss six cts vs profit 55 cts net loss 414000 vs profit 3936000 sales 1094 mln vs 1268 mln year shr loss 175 dlrs vs profit 55 cts net loss 12589000 vs profit 3965000 sales 3417 mln vs 3895 mln note year results include 140 mln dlr restructuring charge in 2nd qtr of 1986
however it could not issue sterling commercial paper because bank of england rules prohibit an issuer of certificates of deposit to issue paper denominated in stg
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
smith said the company ended 1986 with a strong cash position of about 639 mln dlrs as compared to 158 mln dlrs the year before
his position within the ldp itself is not so strongly established today nakasone who has been more popular with the general public than with many ldp members is now seeing his public support eroded the analysts said
an iranian foreign ministry spokesman quoted in a broadcast monitored by the bbc in london said reports that iran intends to threaten shipping in the gulf were baseless
we do not seek further confrontation with iran but we will be prepared to meet any escalation of military actions by iran with stronger countermeasures weinberger said
it said local authorities must inform farmers of the price increases before farmers begin planting to encourage production of grains and oilseeds
prime minister margaret thatcher said the uk was growing more impatient with japanese trade barriers and warned that it would soon have new powers against countries not offering reciprocal access to their markets
the company said gwinnett has a weekday circulation of about 27500 and a sunday circulation of about 30900
sri lanka today ordered its armed forces to defend the islands territorial waters as india prepared to send a flotilla with relief supplies that colombo says it does not want for the tamils in the jaffna peninsula
at march 31 the allowance for loan losses was 1142 mln dlrs versus 948 mln at end of march 1986
it forecast the ringgit will remain stable at between 260 and 270 malaysian dlrs to the us dollar for the rest of the year
the companys implied senior debt rating is b minus
the port of philadelphia was closed when a cypriot oil tanker seapride ii ran aground after hitting a 200 foot tower supporting power lines across the river a coast guard spokesman said
it said drilling has indicated substantial sulphide reserves with a gold grade of about 01 ounce a ton and early tests show the gold ore responds to bioleaching
india buys 20000 tonnes of rapeseed oil
an officer with painewebber echoed that sentiment
indian thermal power firm gets 169 mln mark credit
the economics at an 80 pct levy are simply not attractive at oil prices below 30 dlrs story said
cuban sugar production in the third quarter of 1986 was 12000 tonnes giving a final 1985 86 crop total of 735 mln tonnes compared with a 1984 85 crop of 810 mln tonnes
genetics earlier said first quarter ended february 28 losses rose to 1309000 dlrs from year ago loss of 937000 dlrs
his proposal to revitalize texas oil industry would exempt stripper wells that produce 10 barrels of oil or less each day from the states 46 pct severance tax
oper shr 17 cts vs 25 cts qtly div 15 cts vs 15 cts prior oper net 1522000 vs 3501000 sales 980 mln vs 863 mln note prior year net excludes loss from discontinued operations of 1817000 dlrs
mexico has temporarily suspended its debt equity swap program in a move that some bankers see as an attempt to increase pressure on reluctant foreign banks to participate in a new 77 billion dlr loan for the country
the next opportunity for the bundesbank to lower rates on repurchase pacts will be in a tender expected next tuesday
security pacific corp spc 3rd qtr net
some analysts said the latest 306 mln dlr offer for purolator exceeded their expectations
toshin steel owned 419 pct by nippon kokan and azuma steel owned 413 pct by nippon kokan are expected to decide by the end of march they said
dealers said although the figure was well above an expected requirement of around 51 billion marks the expected outflow of funds was so large that banks might find it difficult to meet the requirement toward the end of march
analysts said a similar hurdle could also hinder the possible sale of dome petroleums interest in dome mines
evergood products corp evgdo 1986 year loss
little reaction to removal comex daily limits
phillips petroleum p raises crude postings
price declines were recorded for meat products lumber and motor vehicles
testifying before the house appropriations subcommittee which must approve his agencys 1988 budget he said in my judgment economic factors justify a continued decline asked by a committee member if he expected a further decline and how much yeutter said the taiwan and south korean currencies should be adjusted to reflect positive factors in their economies
a similar measure was decisively defeated on the senate floor last week
we want to move slowly and safely so that we do not make a mistake and undermine confidence in the exchange physical rubber trading was launched in 1985 with coffee added in january 1986
on a year over year basis the federal agency said the index fell 09 pct in january the largest yearly decline on record
in britain where the government is angered over the difficulties telecommunications giant cable and wireless has faced in its bid to crack the japanese market officials said last week that retaliatory action is being considered
redstone details sweetened viacom via offer
the decrease in us earnings had been accentuated by tax rates but the group had increased share to become volume market leader holmes added
currencies better reflect fundamentals baker
argentine debt talks difficult central bank head
louis businessmen
lincoln savings lnsb sets first payout
horizon bank said its board declared a three for two stock split payable april 21 to holders of record april seven
klm and air atlanta had been talking for some time he said but declined to elaborate further on the talks or give details of the loan to air atlanta
tcby enetrprises is a franchisor and operator of retail stores specializing in frozen yogurt related treats
currently about three quarters of this years iso 800000 stg budget has not been paid but delegates said the us caused controversy as it said it might not pay its full contribution in the last year of the current pact
stanley works said it has acquired acme holding corp a maker of sliding and folding door hardware and the designs patents and other righs of plan a flex designer co which provides kits for home design and remodeling projects
the reagan administration has given mixed signals on whether it believes a marketing loan for soybeans could be successfully challenged in gatt by the ec haggard said
the money traders said they regarded the central banks cd buying operation as simply a gesture to live up to japans pledge to guide interest rates lower and stimulate the economy
fed funds traded at 6 1 16 pct late friday and are expected to open near that level
last friday exxon corp said forgeries of a 20 year zero coupon euronote issued by its exxon capital corp subsidiary have been discovered in the european market
shr 104 dlrs vs 83 cts net 517 mln vs 394 mln
japan maintains a quota on beef imports set at 58400 tonnes high quality beef in fiscal 1987
he said the treasury expected a current account balance of payments deficit in 1987 of 25 billion stg after a 11 billion shortfall in 1986
it said drilling will begin during the second quarter
the deal has two sponsors who assist in the placement interallianz bank zurich ag and nivison cantrade ltd a small uk trading firm that formerly was broker r
energy prices which fired januarys data with a three pct rise advanced a more moderate 19 pct last month
chee said corenes pora affected trees from the rrim 725 clone planted in malaysia several years ago but had been curbed after use of such clones were discontinued
bankers trust international is co lead manager
the sources said no minister challenged narjes analysis that four or five hot rolled wide strip lines would have to close
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
westcorp wcrp unit sells car loan backed bonds
if we can sell more than our quota at official prices while some countries are suffering difficulties marketing their share it means we in kuwait are unusually clever he said
egyptian central bank dollar rate unchanged
west german gnp growth in 1987 will be led by renewed advances in domestic consumption and investment spending both of which will in turn be buoyed by an expansionary monetary policy the institute said
lawson said that in future traders registered for value added tax vat would be able to choose to account for the tax on the basis of cash paid and received
s korean wholesale prices up 04 pct in may
ec presidency prepared to drop oils and fats tax
cincinnati gas cin files shelf offerings
hoechst plans offering to finance merger debt
bank of americas west german branch lost some 32 mln marks in 1985
but santos alvite told reporters he hoped a first cargo of 300000 barrels could leave maracaibo this weekend to supply refineries near guayaquil
industrial equity pacific added it is considering launching a tender offer for calmat stock or making a merger proposal to the company but said it has not decided whether it will pursue a calmat acquisition on a non negotiated basis
stolte said
economists estimate that the governments spending target will rise to about 47 billion rand with revenue budgeted at around 40 billion rand
shr 46 cts vs 58 cts net 290 mln vs 379 mln revs 2512 mln vs 2542 mln avg shrs 579 mln vs 560 mln 12 mths shr 136 dlrs vs 237 dlrs net 937 mln vs 1523 mln revs 9819 mln vs 103 billion avg shrs 572 mln vs 553 mln note 1987 12 mth net includes 437 mln dlr charge due to december 1986 provision for coal mining operations refund
iea estimates that the draw in oil stocks during the first quarter of this year will come largely from oil companies whose inventory levels by april one will be an estimated 326 mln tonnes or about 74 days consumption
several lawmakers have argued the new trade bill made too many concessions to reagan and said they intend to back amendments to get tough with countries that violate trade agreements or keep out us products
the tender offer began on february six
a new international natural rubber agreement inra was adopted earlier this month in geneva
franklin minnesota sets monthly payout
the mdp won six out of the 14 places on the unions directorate in elections earlier this month with the christian democratic party holding five and the remainder being won by independents
british frustration over the lopsided trade balance nearly six billion dlrs in japans favour last year has reached boiling point over the telecommunications issue howard said
detailed data on reserves shows that us net proved reserves of crude oil fell to 837 mln barrels from 853 mln barrels in 1985 natural gas liquid reserves were also lower in 1986 from the previous year
bell and howell co said it completed the sale of its computer output microfilm business to com products inc a unit of privately held lebow industries inc the sum of the deal was not disclosed
treasurys baker says governments should not mandate or guarantee debt relief
the meat export federation was awarded 50000 dlrs to increase the market for chilled and processed us pork in japan and singapore
reliance electric co said its reliance industrial co unit will redeem on april 10 all outstanding 7 1 4 pct debentures due 1996 and 9 5 8 pct debentures due 1994
wedtech executives have said they paid bribes to about 20 government officials
bethlehem steel bs sets steel price increases
these shares will not qualify for the final lex dividend on 10 april
the company said backlog stood at 7520 billion dlrs down from 7912 billion dlrs a year earlier
the company currently has about 39 mln shares outstanding
us britain agree further bank capital proposals
qtly div 20 cts vs 20 cts prior pay may 11 record april three
in january retail prices rose 66 pct from december to stand 904 pct higher than in january 1986
s g warburg securities has organised commitments from a group of investors to subscribe for 65 mln stg in shares and 282 mln stg in subordinated convertible loan stock
the bank said it expected to report positive earnings in future periods barring unforeseen circumstances
hopefully we will not overreact by installing unnecessarily complicated procedures that may become obstacles to the real goal of providing an increasingly safer more nutritious and economical meat supply for consumers stanley emerling executive vice president of the national association of meat purveyors said
he held brief talks on sunday with brazilian president jose sarney during a stopover in brasilia
oper shr loss one ct vs loss seven cts oper net loss 80640 vs loss 787738 revs 933183 vs 3346627 avg shrs 6122378 vs 8451578 year oper shr loss 75 cts vs loss 110 dlrs oper net loss 5120206 vs loss 9288996 revs 5846962 vs 18679090 avg shrs 6805951 vs 8387802 note earnings exclude losses from discontinued operations of 178437 dlrs or three cts a share vs 154767 dlrs or two cts a share in the quarter and losses of 706984 dlrs or 10 cts a share vs 572100 dlrs or seven cts a share for the year 1986 year earnings exclude gain from early extinguishment of debt of 11318289 dlrs or 166 dlrs a share
he said that the us israel free trade agreement passed last year and eliminating all duties and other commercial restrictions between the two nations through 1994 would continue to facilitate the desired export growth
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
he added the attractiveness of participation shares could be increased by limiting the combination possibilities of terms and conditions and increasing safeguards for investors
iowa resources inc ior declares qtly dividend
normally the expenses would be amortized over the remaining period of the loans to which they apply it said
she said klm would like the two courier services to cooperate in future and did not exclude a future merger between them to combine imls strong world wide network with xps mainly european activities
usx corps uss division said it was raising prices for all hot rolled bar and semi finished products 1100 series grades by 10 dlrs per ton effective july one 1987
the current account for the two months posted an estimated 500 mln baht surplus down from 12 billion a year ago
enserchs stock closed at 22 1 2 last night on the new york stock exchange
shr 27 cts vs 17 cts net 5584000 vs 4276000 revs 977 mln vs 839 mln nine mths shr 84 cts vs 39 cts net 177 mln vs 9848000 revs 2908 mln vs 2418 mln avg shrs 211 mln vs 251 mln
the very probability of a growth in demand set against the massive investment required for expansion and that expansion only being viable in south africa or russia leads me to conclude that the price of platinum will be substantially underpinned in the medium to long term clark said
ongpin said the use of pins would result in anticipated savings of one billion pesos over the debt agreements 17 year life
the sale comprised two 12000 to 14000 tonne cargoes plus or minus 10 pct for mar apr shipment a kaines trader said
the delivery period for wheat is march 20 through september 30 1987 and for wheat flour is april 10 through september 30 1987 usda said
the crisis began when brazils trade surplus its chief means of servicing its foreign debt started to decline sharply and the problem was compounded by a renewed surge in the countryrate of inflation
fees are 1 1 4 pct for selling and 5 8 pct for management and underwriting combined
of the unadjusted counterparts to sterling m3 bank lending to the private sector expanded 26 billion stg after a 14 billion rise in january the bank said
he noted that the dollar firmed again in late us trading after the outcome of the baker meeting was published
lyng says no decisions taken at cabinet council
in the prior year it earned 1650000 dlrs on sales of 451 mln dlrs
the debentures will be for a term of 15 years with a seven pct coupon and convertible into common shares for 10 years at 1350 dlrs per share
f hutton investment banking firm brought a wall street perspective to the agency upon being named chairman in 1981
deputy prime minister janez zemljaric speaking before a meeting with the paris club of creditor nations said yugoslavia was seeking to refinance two billion dlrs of debt
in the case of corn they said the loss can be filled by production from non traditional corn farms which diversified into the cash crop from sugar two years ago
fees consist of a one pct selling concession and 050 pct combined underwriting and management
these six varieties would also be used to replace trees uprooted or base budded de mel said
the nigerian naira firmed 26 pct against the dollar after 17 banks were disqualified from bidding at todays weekly foreign exchange auction the central bank said
the soviet union the worlds largest grain importer has bought no us wheat for more than a year complaining the price was far above world market levels
its interesting that they chose something in international waters because it doesnt implicate any other nation one diplomat said
south african gold holdings rose 17256 mln rand to 417 billion rand in march after rising 39 mln rand to 40 billion rand in february reserve bank figures show
charter oak partners a connecticut investment partnership said it raised its stake in facet enterprises inc to 480000 shares or 96 pct of the total outstanding common stock from 300000 shares or 60 pct
asta group inc said its 50 pct owned liberty service corp affiliate has purchased about 50 mln dlrs face value of credit card installment receivables from a major financial institution it did not name for a significant discount from face value
agency reports 39 ships waiting at panama canal
river plate malaysia 20000 22000 long tons hss 2000 2000 apr
australian treasury note tender 700 mln dlrs
poland says us sanctions have cost its economy 15 billion dlrs and has made clear it wants washington to take a lead in repairing the damage after lifting remaining restrictions two weeks ago
treasury secretary james bakers assurances that us policy is to oppose these loans did not satisfy concerns raised at two senate committee hearings last week
and sand plans to market a laser printer in the fourth fiscal quarter shattner said
shr loss 65 cts vs loss 131 dlrs net loss 1366340 vs loss 2148656 revs 2664852 vs 799864
the officials also said they expect the governments new trade insurance law to boost imports and encourage japanese companies to set up production facilities overseas
monoclonal antibodies mabs buys company
south korean foreign trade minister rah woon bae said his countrys firms have agreed to buy 18 billion dlrs worth of us goods during his two week buying trip to the united states
official sources said pakistan was likely to use 34 mln bales of cotton during the current financial year ending june after 296 mln in 1985 86 and 270 mln in 1984 85
hearings in a new york state court were delayed until monday
the company is currently exploring alternatives for raising additional funds through a debt for equity financing
bankers said they would seek clarification from the inland revenue particularly on how to calculate the cost of these loans
the average forecast called for a 300 mln dlr m 1 rise
the bank said the project will benefit small and medium sized industries primarily in yugoslavias republic of slovenia
it also created four new positions for chairmen of its operating divisions
the expected conversion premium is eight to 12 pct and the issue is convertible into smith and nephew ordinary shares
he said india had agreed to export to japan about 23 mln tonnes of iron ore in 1987 88 about the same as in the current year
chigaga said that britain was now considering its stand following representation by the zambian government
all sales under the credit guarantee lines must be registered and exported by sepember 30 1987 it said
but the spokesman said the commission will consider whether to propose it be replaced by an all year round system
bowne and co inc bne sets stock split
the report dated april 3 said the region accounts for about 22000 hectares of the italian orange crop or about 26 pct of total production
other candidacies to take over cgct include west germanys siemens ag siegf allied with schneider sa schnpa subsidiary jeumont schneider swedens telefon ab lm ericsson ericst allied with matra matrpa and bouygues sa bouypa italys italtel and canadas northern telecom ltd ntlto
todays data showed that the draining action was for a fairly large 39 billion dlrs economists said
estimated us poultry slaughter
energy development partners ltd said it had an operating loss for the year ended december 31 of 24 mln dlrs or 40 cts per share
delegates at the renegotiation conference held under the auspices of the un conference on trade and development unctad reached agreement over the central elements of a new accord last weekend
the tender calls for one cargo of prompt sugar and two to three with march april shipment sugar or the same as the eight cargoes bought at a tender two days ago
technical measures wont be enough to protect the ems against external factors such as dollar weakness
in 1986 tylans furnace product shipments in the us represented 103 mln dlrs of the companys total net sales of 284 mln dlrs
currency conversions were made at 681 crowns to the dlr
the company said a detailed disclosure of an acquisition offer must be made to the panamanian national securities commission or to the targets board before acquiring more than five pct stake
sahlen and associates salnu completes purchase
the car has registered just over 20000 sales
the sources added that two key members of the negotiating team returned to manila last night indicating agreement was likely to be hammered out by this weekend
the critical issue is how greenspan will deal with inflation said stephen axilrod vice chairman of nikko securities co international inc and former staff director for monetary and financial policy at the fed
fees are 1 1 4 pct for selling and 5 8 pct for management and underwriting combined
new england electric system nes five mths net
the concentration of securities in the hands of such long term holders has left little scope for trading activity he said
the mood in the united states is extremely disturbing
johnson recognized current concern over the cost of certificates as compared to cash but said that critics need to look more closely at the savings caused by certs noting for example that widespread use of certs in the pik and roll marketing technique last summer helped ease storage costs
asian exporters fear damage from us japan rift
parker said a combined purolator and emery would rival united parcel service as the second largest us package delivery company after federal express corp fdx which has 47 pct of the market
allegheny beverage abev explores unit sale
the offer is worth 223 billion dlrs
geothermal resources international inc geo 
acceptance insurance holdings inc acpt year
rowe furniture corp rowe sets qtly dividend
the us agriculture department detailed world supply demand data for major importers and exporters of soybean meal by country as follows in mln tonnes argentina soybean meal 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 013 013 019 019 production 367 367 349 349 imports nil nil nil nil domes use 035 035 035 035 exports 330 330 320 320 end stocks 015 015 013 013 brazil soybean meal in mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 061 060 072 072 production 1040 1039 969 966 imports nil nil nil nil domes use 255 255 241 240 exports 785 785 738 738 end stocks 061 059 061 060 ec 12 soybean meal in mln tonnes 1986 87 1985 86 04 09 87 03 09 86 04 09 87 03 09 87 start stcks 040 040 044 044 production 1044 1045 1018 1017 imports 1303 1303 1348 1348 domes use 1850 1849 1859 1857 exports 507 509 510 511 end stocks 030 030 040 040
the company has always had the aura of a penny stock shattner said adding that sand plans at some time to apply for listing on the montreal stock exchange
senior japanese officials tomorrow open talks with american trade negotiators in a last ditch effort to avert new high us tariffs to be imposed on a wide variety of japanese electronic exports
june yen closed at 0006913 on tuesday
the order which was issued by the ninth circuit court of appeals requires western to discuss with its two unions whether westerns labor contracts will be binding for delta delta said
dynalectron corp said it purchased certain assets of standard aero inc including leasehold rights to its aircraft modification and maintenance facility in phoenix ariz
a representative of the poultry industry said statistics showed that chicken is less frequently the cause of salmonella poisoning than beef dairy products or salads and other mixed foods
johnson and several other economists now estimate that the fed funds rate should trade between 6 1 4 and 6 3 8 pct
transco said each share of the preferred is convertible into 1263 common shares
trilogy resource corp said teck corp agreed to purchase 45 mln trilogy common shares at one dlr per share in a private placement which would increase its stake in trilogy to 37 pct from 29 pct
the ruling gatt council deferred a decision on whether to set up a dispute panel on the basis of a european community complaint against the us japanese agreement on exports of computer semiconductors
prior nine mths net includes gain from sale of real estate of 3820000 dlrs
the dutch are the second largest consumers of margarine and fourth largest consumers of vegetable oils in the ec
colombia june coffee registrations opened
business sales fell 201 billion dlrs or 45 pct in january to 42875 billion dlrs after rising by three pct in december to 44882 billion dlrs
argentina has already committed four mln tonnes of this years corn for export a usda official said with two mln tonnes of that booked for april june delivery to the ussr
1986 oper net excludes a 105 mln dlr or 140 dlr per shr loss from early extinquishment of notes
drexels ramirez did not commit herself either way adding that the next major move may have to wait until april 14 when februarys us trade data are due for release
the report published today by an economic monthly the peru report said the success of president alan garcias government in stimulating output last year to achieve eight pct gross domestic product growth represents gains in the short term at the expense of the long government officials had no immediate comment on the report which advised a reduction in the overall size of the public investment programme and greater emphasis on the preservation of perus export potential
bangladesh forecasts gdp growth of 44 pct
baker said in my view they have not rejected it out of hand at all and that it will be considered should we choose to advance it at the april meeting baker made clear that since mexico brazil venezuela and argentina representing the latins had declined to accept the plan today the us had reverted to its original position but he added its possible the proposal could be revived us officials who asked not to be named said they believed a decision was not forthcoming because several top latin finance officials were absent from the iadb annual meetings here
the agreement forged by ig metall europes largest union with 25 mln members and the employers would set the benchmark for settlements in other industries such as the public sector banks and federal post office
it said talks are in progress with united western with regard to the repayment terms of the loan
grimes said as far as the distant months are concerned if our first quarter pig crop is up only six pct and under 60 lb inventories actually up only five pct it would take a tremendous discount in price for each percent increase for us to push down to the prices that the current futures show for the july and august period jerry abbenhaus analyst for age clearing noted that distant futures prices are already 15 to 20 dlrs lower than they were last summer
ing
in 1986 a season that ran from april 3 to december 27 the seaway moved 376 mln metric tons of freight between montreal and lake ontario and 416 mln tons on the welland canal linking lake erie and lake ontario
net loss 92623 vs profit 11209 sales 93483 vs 189388 note per share data not available as company went public in january 1987
devon resource investors said as of january one its estimated proven reserves increased by 443000 net equivalent barrels to 324 billion cubic feet of natural gas and 660000 barrels of oil compared with 295 bcf of gas and 700500 barrels of oil as of jan one 1986
the paris accord will be reviewed at this meeting
while negotiations on terms and interest rates of its bank loans are not yet complete usair said it expects them to be in the form of a one billion dlr two year term loan and a one billion dlr seven year revolving credit facility
singapore government takes over goodwood shares
the company noted that easter sales fell in march last year and are falling in april this year
foothill group fgi sees better first quarter
american telephone and telegraph co and philips telecommunications bv apt would hold 36 pct through direct and indirect holdings in frances cie generale de constructions telephoniques if a joint bid with french partners for the soon to be privatised firm succeeds a director at one of the partner firms said
they added that dauster is keen to raise the contribution quota as the institute needs money to repay central governmnet funds released to finance ibc purchases at the guaranteed producer price
president reagan said he would discuss the mideast gulf situation with allied leaders at next weeks venice economic summit and hinted he would seek their help in preserving free navigation
american express cos board of directors monday will discuss the companys arrangement to sell 13 pct of shearson lehman brothers inc to nippon life insurance co a company spokesman said
iran has conducted repeated attacks on shipping in the gulf and us officials have said that teheran has recently equipped itself with powerful chinese and italian made anti ship missiles posing a greater threat
regal beloit corp rbc 3rd qtr net
1987 3rd qtr and nine mth figures also include gain of 121 mln dlrs from sale of real estate investment property
shr 25 cts vs 21 cts net 28 mln vs 23 mln revs 1350 mln vs 1190 mln nine months shr 80 cts vs 70 cts net 89 mln vs 77 mln revs 4077 mln vs 4037 mln
plans for the proceeds include capital expenditures such as new office buildings equipment and facilities the company said
the cannon group inc said its financial statements will show substantial losses for fiscal 1986 and significant downward adjustments in previously reported stockholders equity the company also said its 1986 audit being conducted by arthur young and co will cover the year ended january 3 1987 instead of the nine month period ended september 27 1986 as previously announced
my view is that the economy remains relatively strong and market participants will see that current prices are unjustified mains said
transamerica said the acquisition represents its first move into specialty treaty reinsurance
the number of people actually receiving benefits under regular state programs totaled 3014400 in the week ended feb 14 the latest period for which that figure was available
duff and phelps said it is upgrading to its highest level duff 1 one plus from duff 1 the rating on about 836 mln dlrs of philip morris companies inc commercial paper
the deal was quoted on the 1 7 8 pct total fees
in france belgium the netherlands and west germany it was mostly cool with frequent and often heavy rainfall which continued to slow down beet growth and often made field work impossible
it said it is launching a prestige fragrance developed in conjunction with catherine deneuve this spring
a hormel hrl votes two for one split
to finance the deal merrill lynch said it expects to borrow 35 billion dlrs from a group of banks and sell 100 mln dlrs of common stock of the new company sell 100 mln dlrs of non voting preferred stock of the new company to merrill lynch and co sell up to 650 mln dlrs of subordinated notes to merrill lynch and co and sell to the public 204 mln dlrs of subordinated discount debentures
the move by the knut and alice wallenberg foundation one of the institutions at the core of the group of companies formed by the late industrialist marcus wallenberg further consolidated group control over one of its key firms analysts said
general acquisition co a partnership of wagner and brown and afg industries inc afg reiterated in a statement sent to gencorp on friday that it was willing to negotiate its earlier offer of 100 dlrs a share for the tire broadcasting plastics and aerospace conglomerate
domestic supplies will comprise 725000 of soybean oil 706000 in 1986 638000 of rapeseed oil 609000 and 235000 of other origin oils 231000
treasury official says philippine pact very near
standard and poors corp said it upgraded 12 billion dlrs of debt of union carbide corp and its affiliate dcs capital corp
the company said the split will be effective on stock of record april eight
united cities ucit privately places bonds
greyhound officials told late today the company hoped for icc action on the merger by tomorrow
it said the drought has made rice planting difficult in eight provinces including guangxi sichuan and hunan
the three following first quarters resulted in losses of 3200000 dlrs 3500000 dlrs and 1800000 dlrs respectively the company said
the remainder is held by permalines management and an investment group
currency in active circulation rose to 503 billion dlrs in december from 485 billion in november and 474 billion a year earlier
thai venture will sell rubber to china
however he added there could well be a sharp fall in performance in the first quarter of 1987 due to the improbability that the group would be able to repeat the high refining and marketing margins of first quarter 1986
the growth rate was outside the expanded target range of three to six pct
in a filing with the securities and exchange commission caesars world said its board decided at a special meeting yesterday to explore and investigate several alternatives in an effort to thwart sosnoffs takeover attempt
holders will have the right to convert the notes up to the close of business on april 30
japan carefully considering money policy sumita
first boston corp fbc was up one to 51 1 4
sunter acquisition begins tender for allegheny international inc
however the company said in a statement good returns from funds placed with investment managers had partly offset higher interest costs resulting from additional lease financing and other borrowing
he also said the tax rate in 1987 will remain at just under 50 pct because of the repeal of investment tax credits and higher state and local taxes
japan ready to use diplomacy for gulf security
eurodollars for the same maturity rose a fractional 1 16 pct from yesterday to around 6 11 16 pct
it said in a statement the increase was exclusively due to sharply higher use of rape products which went up by 89 pct to 108 mln tonnes
the division consists of four w and j sloane furniture store in los angeles and orange counties
the change brings the price of light sweet crude to 2650 dlrs canadian per barrel and the price of light sour crude to 2377 dlrs canadian a barrel
in due course the industry should benefit by over 100 mln stg a year it calculated
the tokyo commodity exchange for industry tocom said it will allow five more members to become precious metal brokers taking the total to 54 and four more members to broke rubber for a total of 39
buitoni also said its consolidated revenue during the first quarter of this year was 429 billion lire up 51 pct from the comparable 1986 period
comex announced friday the lifting of all daily limits effective today
mthly div 73 cts vs 75 cts in prior month payable april six record marcxh 30
saul brandman a california business executive told the securities and exchange commission he has acquired 118714 shares of arden group inc or 57 pct of the total outstanding common stock
solar systems by sundance inc said it agreed to buy a 45 pct interest in a company that will sell condoms produced by inkey sa of spain
cmp earned 11 mln canadian dlrs in 1986 and expects to produce 42000 ounces of gold in 1987 at a cost of 160 us dlrs an ounce consolidated tvx said
commenting on the paris agreement mulford said i think exchange rates ought to be stabilized so germanys and japans efforts can be carried out
clearing and delivery of the program will be via the short term paper clearing institute of the dutch central bank
computer memories said the proposed transaction is subject to the results of certain corporate reviews and approval of its shareholders who will hold a special meeting as soon as practicable
these rates compared with averages of 555 pct for each of the three and six month bills sold last week
he stressed however that brazil was willing to pay as soon as it could but added that a payment of interest was not connected with the extension of the credit lines
the spokesman said talks were still ongoing with the two other striking locals representing 600 office and technical workers
he said reduced capacity in the chemical industry and the weakened us dollar would also contribute to the companys improved performance
senior dealers at creditanstalt and girozentrale austrias two largest banks said they would have been aware of any national bank intervention
year to end dec 1986 proposed dividend 45 francs vs 3450 francs note full name of company is moet hennessy sa mhsppa
heublein said the phase out of the recently acquired almaden operations in san jose is expected to be completed by late summer
money rates international summary apr 3 us fed funds 5 15 16 broker loan 750 725 30 60 90 t bills 540 38 540 38 544 43 cds dir 595 600 600 comm paper dir 615 615 609 international call 1 month 3 month ldn 10 9 7 8 10 9 15 16 10 9 7 8fft 360 70 380 90 385 95 par unav unav unav zur 7 8 1 1 8 3 1 8 1 4 3 1 2 5 8 ams 5 5 16 7 16 5 3 8 1 2 5 3 8 1 2 tok 37500 8125 38750 9375 40000 0625
aziz said he does not expect the change in system to have a major effect on total consumption but it may encourage better use of side products such as bran
the bank of spain is relaxing exchange controls to help put spanish banks on an equal footing with european community competitors by the 1993 deadline for the ending of restrictions a central bank spokesman said
m 1 money supply for the week ended february 23 reported today rose 19 billion dlrs to 7385 billion but preliminary forecasts call for a drop next week of around two billion dlrs
china to open first phase of large aluminium plant
weizsaecker arrived for a four day visit opening a latin american tour which includes bolivia and guatemala
the problem would be how to limit sales one exporter said
creative financial footwork helped ge get the order said nicholas heymann analyst at drexel burnham lambert inc
at the center of the controversy is bank president barber conable whose reorganization efforts are getting some critical review from many bank staff members and some member countries including the united states
a five year forecast is expected to be issued in early summer a spokesperson said
het comite has obtained a temporary agreement that companies can pay the amount they receive toward the levy rather than paying a full guilder amount to the dutch grain commodity board
if anything the negotiations have become much more confrontational with the debtor countries pressing for more concessions arguing that they face growing political instability if they are asked to do or pay more
if argentina had the same difficulties in being unable to refinance its debt under the desired creditor conditions that brasils is a path to take machinea said
however it said it is unlikely the company will sustain the same record pace of sales and income throughout 1987 due to an expected reduction in throttle body sales
on debt lawson said he expected a three point british plan to alleviate the burden of the poorest sub saharan countries to make progress in venice
along with the fall in drilling has come a decrease in the number of producing wells and overall production
non callable for life the issue is rated a 1 by moodys and aa by standard and poors
he said the wheat trade because wheat can be produced in many nations is a good barometer of world grain trade and could lead to more activity in other grain markets
association sources told fridays suspension of trading for two working days was continued on monday for two more days so as to study proposals to reinforce the pound
the european community commission has told ec member states that it is not prepared to discuss ec sugar prices while sugar traders threaten to make a huge sale into intervention stocks to protest against its policies commission sources said
traders familiar with the opinion said that david eisenberg director of sanford c
helm resources inc said that pursuant to the exercise of an overallotment option by underwriters in bamberger polymers incs initial public offering it has sold another 35000 bamberger shares and reduced its ownership in bamberger to 51 pct from 55 pct
the japanese government will also participate in the venture by providing financing to nippon through the japanese oil corp chevron said
capitol bancorp capbo 3rd qtr net
avnet named dillon read and co inc as manager of the offering
the bank of england said it had provided the money market with 728 mln stg assistance in response to an early round of bill offers from the discount houses
bank negara said although malaysias net borrowing dropped in 1986 its external debt rose due to the 30 pct appreciation of the basket of currencies against which the ringgit is pegged
corby distilleries to expand in canada
us heating oil futures up sharply in april
philippine finance secretary jaime ongpin starts negotiations with the countrys 12 bank advisory committee in new york tomorrow buoyed by an economy on the mend and political stability one year after president corazon aquino took power central bank officials said
jepson corp jepso 3rd qtr net
arrays aray completes merger
herrington said i would like to shoot for one mln barrels a day addition to us production us oil output was off to 84 mln bpd in the week of march 13 down six pct from last year the american petroleum institute said
south africa gold holdings rose 17256 mln rand to 417 billion rand in march after rising 39 mln rand to 40 billion in february reserve bank figures show
todays new eurosterling bonds were a 10 year 100 mln stg deal for sweden at 9 1 2 pct and priced at 101 1 4 pct lead by baring brothers and co ltd and a 14 year 60 mln stg convertible deal for storehouse plc launched by sbci international ltd
dravo saidperformance so far this year in its engineering and construction segment has not met earlier expectations
several banks citing brazils suspension of interest payments on 68 billion dlrs of its 108 billion dlr foreign debt and the absence of a coherent economic plan have already said they might take such a step even though it would cost them tens of millions of dollars in profits
inter city gas corp icg 4th qtr net
cip canadas second largest newsprint producer recently launched a 366 mln canadian dlr newsprint mill at gold river british columbia which is due begin producing 230000 metric tonnes per year by fall of 1989
he said that if olivetti were approached by the two partners involved and the financial conditions of any proposal were considered interesting the company did not exclude the possibility of investing in the venture
qtly div four cts vs four cts prior pay april 15 record march 23
as a member of the general agreement on tariffs and trade gatt india cannot officially support bartering
ec approves mediterranean financial packages
he said he was confident it would post an excellent profit
the full year 1986 current account surplus was reported last month at 258 billion francs
us house panel votes to speed up corn payments
bonns finance minister gerhard stoltenberg argues that major currency shifts needed to remedy the huge imbalance between west germany and japans trade surpluses and americas trade deficit have already taken place
shr 465 hk cents vs 293 final div 14 cents making 20 cents no comparison net 123 billion dlrs vs 7775 mln turnover 906 billion dlrs vs 752 billion note dividend payable may 29 books close may 11 to 22
but when argentina announced export taxes for the 1987 88 year in july the differential was narrowed only one pct
he said nearly all cane and beet is sold to the state owned mills with a small amount sold raw to consumers
neyra said since late 1986 peru had sought an accomodation with the world bank under which it would receive more credits than it would remit in repayments
marine corp mcrpo 3rd qtr net
bank of spain provides year record assistance funds
shultz said he did not know to what extent the stock selling frenzy reflected concerns about us trade and budget deficits
he said in a statement the idea with the foreign banks is to obtain from them the best terms to give the ecuadorean economy a complete relief in the period of deferral of payments on the foreign debt during the present year the statement referred only to payments due to private foreign banks a senior government finance official told 
the grant is for the development of a major zinc and lead mine and associated smelting complex in rajastan north west india the agency said
gte corp is raising 250 mln dlrs through an offering of debentures due 2017 yielding 8737 pct said sole underwriter ubs securities inc
the figures were broadly in line with market expectations
residual fuel prices rose 167 pct in february after a 134 pct rise a month earlier and were off 174 pct in 12 months
ameritrust corp said it sold two mln shares of its common stock to an investment group named clevebaco ltd partnership
the mortgages in the pool are endowment linked residential mortgage loans and the entire pool is insured by sun alliance and london insurance plc
a senior finance ministry official said government and private firms were free to compete to raise resources adding it was not correct that public sector issued bonds were preventing private firms from raising money on the stock market
the us gross national product after removing the impact of inflation increased at a revised annual rate of 11 pct in the fourth quarter the commerce department said
gillette has been the topic of takeover speculation for several weeks
australian trade minister john dawkins told the reporters bilateral retaliation at the enormous expense of the rest of the world was no way to solve trade disputes
proceeds will be used to finance the companys management led buyout from goodyear tire and rubber co gt the underwriter said
we see moderate growth crow told a news conference following presentation of the central banks annual report in the house of commons today
rule industries inc rule 2nd qtr feb 28 net
the earnings gain came despite a 15 mln dlr reduction of income as a result of placing brazilian loans on non accrual
for the remaining 526 pct it offered an exchange of 19 shares of its shares for one irving share
a merger at the tender price is to follow the offer which has been approved by the harper and row board
mcdonalds corp said it filed a shelf registration with the securities and exchange commission covering 300 mln dlrs of debt securities
turnover took a considerable downturn at the start of 1987 after falling 59 pct in 1986
procter pg appoints new agency for cookies
top level talks last week between the european community ec and the united states failed to resolve a dispute over pasta which may provoke new trade frictions next month diplomatic sources said
western kentucky is a gas distribution company which serves about 143000 customers in 108 towns and communities in kentucky
the chronicle has a daily circulation of over 425000 and is in competition with the houston post owned by the toronto sun publishing corp with a circulation of about 316000
we got a little volatility wednesday said staley commodities international analyst jerome lacey
it requires president reagan to retaliate against foreign unfair trade practices but do not mandate quotas or tariffs and allow an exemption if us economic security would be harmed by us actions against other countries
amax zinc co a division of amax inc said it is increasing the price of dyecast alloys no
herbal medicine and textiles were among chinas chief exports to taiwan
total natural gas reserves fell to 482 trillion cubic feet at year end 1986 from 518 trillion at the end of 1985
the company said the agreement is subject to regulatory approval
there will be seven to eight billion dlrs of generic certificates on the market by the end of harvest an agriculture department official said
mcivor said he opposed import subsidies or tariffs used to increase exploration as these only benefit one part of the economy at the expense of other parts of the economy
small rise seen in us gasoline inventories
the decrease results from changes in the base rates and in the fuel cost adjustment rate charged by the company
toyo trust and banking co ltd is issuing a 100 mln dlr convertible eurobond due march 31 2002 paying an indicated two pct and priced at par lead manager toyo trust international said
net includes discontinued operations loss four cts shr vs nil in quarter and loss seven cts vs gain one ct in half
pioneer sugar mills ltd said it considered the proposed 220 dlrs a share cash takeover offer announced by csr ltd csras on march 31 to be too low in view of the grouphkuiie and prospects
the company said wright engineers would convert the warrants to stansbury common on a monthly basis at the monthly market value as the 1700000 dlrs of engineering work is completed
shr profit three cts vs profit 31 cts net profit 330 575 vs profit 1473100 revs 1501996 vs 2602568 avg shrs 10964786 vs 4446958 year shr loss eight cts vs profit six cts net loss 91523 vs profit 746289 revs 3854821 vs 5231598 avg shrs 6091334 vs 4446958 note share results after preferred dividend requirements of 44174 dlrs vs 99901 dlrs in quarter and 377111 dlrs vs 480851 dlrs in year company 40 pct owned by painwebber group inc pwj
akzo revises 1986 profit up slightly
the us meat and poultry inspection programs are incapable of protecting consumers from contaminated products groups representing inspectors and consumers charged
in a document to shareholders bond corp said the delay follows its receipt of a 240 mln hk dlr loan from its parent company to meet the first payment on the newly acquired bond centre commercial complex in central hong kong
terms were not disclosed
qtly div 10 cts vs 10 cts prior pay april 15 record april one
that would not represent a tightening of policy however
house and senate democrats who control congress have been critical of reagans plan but have not decided how or if they should try to pass legislation to prohibit it
republic which is controlled by cincinnati ohio financier carl lindner and his american financial corp said it bought 219000 buckeye units between may 14 and 22 at prices ranging from 2249 to 2302 dlrs each or about 50 mln dlrs total
the stock was acquired for investment purposes the group said adding it may purchase or sell additional shares in the future
embargoed for release at 1130 gmt thurs march 19 uk feb adjusted unemployment fell 44100 total 307 mln or 111 pct official
they said they are confident that the taft broadcasting board will conclude that the resolution of the companys current unstable situation as quickly as possible is in the best interests of all parties
its hard to see that anything will be passed much before year end
the study by paul wonnacott said a successful conclusion to the free trade talks now under way could raise canadas gross national product by more than five pct and expand us exports by about seven pct
reagan and mulroney are scheduled to meet april 5 6 in ottawa
buffer stock purchases of forward shipment cocoa from quality producers such as ghana will have only a limited impact on futures but is likely to widen physical market premiums for this cocoa over futures
krung thai bank to take over sayam bank
crude inventories rose 85 mln barrels in the week ended march 20 api said
payment date is april 30 and there is a long first coupon
the company did not identify the parties that made the inquiries but it said they had been referred to its investment bankers tucker anthony and rl day inc for study
lyng pleased ec to offer gatt farm proposal
the series of strikes which employers say has cost them more than seven mln guilders in lost import business in the past six weeks began on january 19 in protest at plans for 800 redundancies from the sectors 4000 workforce starting with 350 this year
proceeds from the offering which will be combined with the sale of another 17775 mln dlrs of debt securities already registered with the sec but unsold will be used for general corporate purposes including repayment of debt and loans or investments to its subsidiaries the company said
harris bank increases its prime rate
it follows that theyre not likely to rally to the side of the united states in defence of the agreement said wolf
deposits and interbank borrowings rose to 680 mln dlrs from 550 mln he told 
the company said it sold about one half of its 50 pct interest in the oak hill and north rucias fields its two largest producing properties
at the same time the two sides reached a stopgap arrangement on the short term trade and money market credit lines whereby the committee agreed to transmit a brazilian request to extend the lines for 60 days until may 31
washingtons deficit with taipei rose to a record 136 billion us dlrs last year from 102 billion in 1985
gross domestic product grew a sluggish one pct in 1986 after stagnating in 1985 and growing 26 pct in 1984
empire of carolina inc emp year net
compared with february 1986 m3 rose 7 1 2 pct
this is why we increased the strategic petroleum reserve but we have to do more he said
an early renewal of inflationary pressures linked to monetary expansion exchange rate devaluation and an easing of price controls appears not improbable it added
the us agriculture department is currently discussing an amendment to a pl 480 agreement signed with morocco on january 22 but the mix of commodities under the amendment has not been determined a us agriculture department official said
taking the first two months of 1987 together imports in value terms fell 14 pct to 626 billion marks compared with a year earlier
germain a proposal to deny primary dealer status to firms from countries that do not grant us firms equal access to their government debt markets might invite retaliation against us firms abroad
semi annual div four cts vs four cts pay april 30 record april 9
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
first national bank corp is the parent company of first national bank in mount clemens and bankers life insurance co a newly created insurance subsidiary
dawkins said initial meetings of the negotiating groups established in geneva after the gatt declaration last september in punta del este uruguay have made a reasonable start but it is vital that trade ministers maintain the pressure on these processes
on march 30 bass said it had agreed to sell its pontins uk holiday camps to a newly formed private company pontins ltd for some 575 mln stg
mobil corp increased net proven reserves of natural gas liquids in 1986 from the previous year according to data in its 1986 annual report
the halt the first national strike by seamen in 25 years started on february 27 and union leaders said they would not return to work unless they got a 275 pct pay rise
canada britain france japan the us and west germany agreed to cooperate in stabilising exchange rates around current levels
however world stocks are huge totaling 2267900000 ounces at the end of 1986 it said
the issue of shares in the new york based holmes is conditional upon shareholder approval at a general meeting
shr 63 cts vs 64 cts net 2463214 vs 2509832 sales 344 mln vs 306 mln note backlog as of february 28 474 mln dlrs vs 349 mln dlrs a year before
the caisse said foreign equity investments represented 36 pct of total assets while us government securities accounted for another 52 pct of the overall portfolio
no firm date has been set for the talks ambassador rene montes told reporters at the ico executive board meeting here
we should pay particular attention to the lack of continuing conditionality associated with the use of the cff and to whether shortfalls in export earnings are indeed temporary he said
in a filing with the securities and exchange commission mitchell hutchins said it bought 11900 shares between jan 8 and feb 24 at prices ranging from 12125 to 1275 dlrs a share and obtained voting control over another 12000 shares
the us administration has already distanced itself from the bill
terms of the acquisition were not disclosed
the banks are anxious to come to an agreement but bankers were reluctant to predict whether the talks would end successfully
however some analysts said opec may need to hold a meeting in september to re evaluate market conditions
mcadoo was traveling and could not be reached for comment
oper shr 216 dlrs vs 207 dlrs oper net 8037000 vs 7710000 revs 1364 mln vs 1333 mln note 1986 net excludes extraordinary gain of 13 mln dlrs or 350 dlrs shr from sale of camco inc shares vs yr ago loss of 43 mln dlrs or 114 dlrs shr
as the impact of the exchange rate depreciations of recent years recede further and given continued effective wage restraint inflation should moderate markedly in 1987 88 he said
japanese importers bought some 95000 tonnes of chinese soybeans late last month for may to september shipment under the semi annual trade accords trade sources said
gerald lach president of eagleslair was named president and a director of dtd
moodys upgraded hughes tools senior debt to baa 1 from b 2 and subordinated debt to baa 2 from b 3
but he said it would be difficult for japan to resolve its overall trade row with washington and reduce its trade surplus which reached 586 billion dlrs in 1986
in addition 800000 shares will be offered overseas in an offering managed by goldman sachs international corp
enrollment in the us agriculture departments fourth conservation signup is expected to be announced tomorrow and usda officials said the figure may be higher than total enrollment for the first three signups
it added factory production might have to be reduced to provide electricity for agriculture if it was needed to fight the drought
i really think we have to change the old rules asked why brazil was first approaching governments rather than the commercial banks themselves in its search for a solution to the crisis funaro said we must first talk to the governments and then we can talk to the banks because the banks have some limits it is a political discussion from our point of view he said
qtly div payable april 15 to shareholders of record march 24
cardenas said lows registered immediately after the failure of the london talks were triggered by a widespread fear among dealers of an imminent price war and the belief that producers would go out and sell their coffee as quickly as possible which did not happen
uk intervention board details ec sugar sales
french finance group sdr issues domestic bond
thrift
prices of index linked bonds fell back slightly after the stock tranches were announced with the 2 1 2 pct index linked stock due 2016 quoted at 102 25 32 stg pct after 102 29 32 shortly before the announcement
usda official sees 7 8 billion dlrs certificates
the rigs one of which was heavily shelled by four american destroyers on monday were still burning almost 24 hours after the attack he said
parent bank net profit 1815 mln schillings vs 1351 mln parent bank balance sheet total 1977 billion vs 1822 billion parent bank cash flow 8774 mln vs 7155 mln dividend 12 pct vs 10 pct on nominal share capital of 15 billion vs 135 billion
i think the pilots proposal is realistic
the purchase was part of a strategic plan to diversify and eventually match earnings from non copper operations and copper operations
swiss cantonal bank group sets 150 mln sfr bond
pentair inc pnta offering of two mln shares cumulative convertible preferred stock series 1987 through kidder peabody and co inc and piper jaffray and hopwood inc
an appendix on port loading costs showed it cost between 26500 and 34700 us dlrs to load a 50000 tonne vessel at various australian ports compared with 21200 dlrs at houston and 16300 at port cartier quebec for a 60000 tonner
barley exports for january comprised 103700 tonnes to the ec and 233000 to third countries
may midmississippi river dubuque south bid 2 1 2 points higher at 142 1 2 pct offered at 145
pakistans 1986 87 exports at 36 billion dlrs 182 per cent more than in the previous year and imports at 523 billion dlrs compared to 563 billion dlrs in 1985 86
the four year arrangement has an additional four year term loan amortization agreement quaker said
in october 1985 the court barred kodak from selling cameras or film that infringe upon the patent the polaroid spokesman said
oper shr loss 20 cts vs loss 81 cts oper net loss 1042000 vs loss 4077000 revs 385 mln vs 503 mln 12 mths oper shr loss six cts vs loss 43 cts oper net loss 336000 vs loss 2176000 revs 1378 mln vs 2091 mln note in item moved march 23 company corrects its error to show loss for current 12 mths and qtr not profit
payment is due april 22
buyers reserve the right to phase down or out liftings should the monthly price be set at over 95 pct of arabian lights gsp
knight said the independent was not affecting the telegraphs growth but was making inroads into the circulation of other london quality dailies such as the times and the guardian
dutch port employers resume lay off plans
kellog said the project will enable the refinery to produce btx products benzene toluene and orthoxylene by processing naphtha feed from an expanded reformer hydrotreater
he said the accord had brought britain into a form of joint currency float but one which let it still purse an independent monetary policy
the company said maple leaf had 1986 sales of 819 mln canadian dlrs and an after tax profit of 163 mln canadian dlrs
the non callable bond is guaranteed by the parent
we have seen some strengthening of those currencies but not as much as we would like he said
the daily telegraph quoted jardine chairman simon keswick as saying hongkong land was at a crossroads now that all its non property assets as well as its major residential properties in hong kong are being sold off
wilhelm christians called last week for an enlargement of current capital market instruments to include instruments already standard abroad
moodys downgrades bankamerica affirms units affects 55 billion dlrs of debt
usda reduced the price of hard red winter wheat at kansas city and texas by six cents at minneapolis and duluth by 32 cents and at st louis by nine cents ralph klopfenstein deputy administrator of commodity operations at the agricultural stabilization and conservation service said
it is expected that oliver s
santos bids for oil and gas company tmoc resources
there was really very little that remained to be done the ruling in san francisco came in a lawsuit that had been filed in a los angeles federal court in which the air transport employees union sought to force westerns management to fulfill a promise that it would honor union contracts if a merger took place
the meeting with kato opened a 12 day visit to japan by lyng who is here to dicuss farm trade
the non callable bonds are guaranteed by fuji bank ltd and final terms will be set on april 6
agency reports 30 ships waiting at panama canal
the unit will be an indirect wholly owned subsidiary called diamond crystal specialty foods inc
it said in a statement the santos bid was below the underlying value of the shares as assessed by macquarie hill samuel at between 408 dlrs and 472
trans world airlines said it has proposed a cash merger of usair group with twa in which the holders of usair common would receive 52 dlrs in cash in exchange for their stock
revenues have been depressed by recent price discounting added costs from expansion programs lower shipping volumes and increased costs associated with severe weather conditions on the east coast company officials told analysts here
if they the administration are interested in selling it wheat they should find ways to do it
growers said large parts of the flooded areas were not planted because they are low lying and flood easily
comterm inc year jan 31 loss
indonesia has introduced a series of measures since last may to boost non oil exports liberalise trade and encourage outside investment
it made outright purchases of seven mln stg of band one bank bills at 10 3 8 pct and 30 mln stg of band two bank bills at 10 5 16 pct
the fare will rise to 379 dlrs in high season beginning june to september and compares with a regular unrestricted one way economy fare of 944 dlrs on canadas major airlines nationair said
the philippines would conserve foreign exchange and enjoy investment inflows reducing marginally the need to seek new bank loans
the current cocoa agreement came into force on january 20 during a previous meeting of the council which was unable to agree on the rules to implement buffer stock operations
sallie mae announces australian dlr note offer
the 1987 budget deficit is targetted at a huge 527 billion riyals or 31 pct of total outlay
a major factor affecting inflation is the value of the dollar which should continue to fall and feed inflation says a prominent international banker
net profit before minorities 296 mln vs 309 mln
but the interest is spreading
domestic sales decreased 44 pct to 355 mln dlrs from 371 mln dlrs and foreign sales expressed in us dlrs rose 79 pct the company said
richardson rell to buy italian semiconductor firm
canada had a trade surplus of 125 billion dlrs in february compared with an upward revised 623 mln dlrs surplus in january statistics canada said
shr loss one ct vs nil net loss 148007 vs loss 58863 revs 198919 vs 133071 avg shrs 7476433 vs 6633989 year shr loss three cts vs loss six cts net loss 230949 vs 424719 revs 666626 vs 509971 note amounts include losses of a 50 pct owned scientific development affiliate analytical biosystems corp
the new agreement also maintains the basic structure of price ranges the may sell and may buy points at plus and minus 15 pct of the reference price as well as the must sell and must buy zones at plus and minus 20 pct of it
webcor said as previously announced it has failed to make payments to the bank and is also in technical default of loan agreement covenants
cominco cltto union rejects contract
commission approves rainbow progressive merger
however he added we certainly welcome the secretary for monetary affairs david nendicks referral of this very important matter to the standing committee on company law reform and are hopeful that the process will lead to the development of general principles which can be embraced by all constituents of the hong kong market
in march the gold silver ratio narrowed from 74 to less than 67
argentine economy minister juan sourrouille left at the weekend for the united states for talks with creditor banks and the imf aimed at obtaining the release of new loans the semi official news agency telam said
deputy foreign trade minister janusz kaczurba recognised this fact recently
in deciding what response to make to the steep stock price drop the bank of japan must first determine whether prices will continue to fall further and then decide if they pose a greater economic danger than the threat of higher inflation one central bank official said
the company said ciba geigy initially licensed the product in 1985
tyler will assume the additional post of president
nwa inc nwa 4th qtr net
fairfield communities inc fci 10 mos dec 31
canada january leading indicator up 04 pct
the payment date is may 14
this rash of countervailing actions where we acted on corn and you acted on soft wood and we both said they were quasijudicial the dispute resolution mechanisims in place now are not working adequately in either of our interests he said
primebank pmbk sets 10 pct stock dividend
undersecretary of economic affairs robert ortner said that he believed the dollar at current levels was fairly priced against most european currencies
centel corp said it completed the acquisition of welbac cable television corp which serves more than 2500 cable television subscribers in east central michigan
cooper canada ltd year net
rhone poulenc is a french based chemical company
as they have done in several sec filings concerning other companies in which they have had a stake the koethers said they reserve the right to take any actions which they deem appropriate to maximize the value of the shares but said they have no current plans about taking any action
while afgs participation in a 14 billion dlr bid for lear siegler inc was aggressive afg was mainly interested in lears profitable auto glass operations s and p noted
proceeds from the offering which is in addition to 50 mln dlrs of debt securities already registered with the sec but unsold will be used to refinance outstanding long term debt to repay short term debt and for other general corporate purposes the company said
at least in that way they said they could show a direct relationship between quotas and availability
proceeds from sale of the shares priced at 5625 dlrs each will be used to buy and deliver 4985000 ounces of silver to placer equity said
terms were not disclosed
bankers suggested that depending on a banks political and economic forecasts for south africa if it decided to take the option it may not have much difficulty finding such borrowers
its caused a lot of ill will with the banking community one banker said
given the potential volatility of this market one which has been conclusively proved by the events of the last days senior management are now duty bound to revise the set of parameters within which they as market makers are now to work commented one senior source at a leading uk investment house
salomon brothers inc co managed the deal
qtr ends march 28 shr loss 146 dlrs vs loss 49 cts net loss 2919000 dlrs vs loss 892000 dlrs revs 103 mln vs 115 mln avg shrs 2000000 vs 1836000 note full name of company is robert bruce industries inc
the surplus on the current account narrowed to 68 billion dirhams from 255 billion in 1985
the non callable bonds will be listed in luxembourg and will be issued in denominations of 1000 and 10000 dlrs
the commission the ecs executive authority two weeks ago cut its forecast for economic growth in the community to 23 per cent for this year from 28 per cent predicted last autumn
american express said in a statement that the swap will be made via its international capital corp unit over two years
he said siemens is now proposing that 25 mln dlrs be added to the 21 mln dlrs to be paid in 11 months
one of the reasons for the steady increase in soybean production in recent years has been a general shift of acres in traditional cotton producing regions of the south to soybeans which are easier to grow one commercial trader said
at the official rate the 5445 billion sucres sum equals 573 mln dlrs
a notable loss was agriindustries of iowa which became affiliated with cargill inc
an agency official blamed industrial restructuring and the strong yen for the rise in unemployment
so the emergence of us criticism damages nakasone even before the latest trade friction flared nakasone was encountering criticism not only from opposition parties but also within his own ldp over his proposal to levy a sales tax
we told them we wish to pay but that first we must make sure that the country grows gros said
as part of the deal squibb will license several of cetus anticancer agents including interleukin 2 in development
allied signal ald completes unit sale
aziz forecast that pakistan may have exportable surpluses of one mln tonnes or a half mln tonnes over the next few harvests in years when the weather is favourable
terms of the transaction were not disclosed
the climate for precious metals is improving with prices benefiting from renewed inflation fears and the switching of funds from dollar and stock markets brokers samuel montagu and co ltd said
discovery west said the notes will be convertible into eight pct convertible subordinated debentures which in turn will be convertible into common shares at a price of two dlrs a share
cuba in its telex told operators they would not receive march shipments as cuba has to meet its contracts to export markets traders said
it said scattered rain in many parts of china in the past 10 days has improved the situation but information on hail damage in anhui is incomplete
manufacturing employment fell 25000 compared with februarys 50000 gain while march construction employment dropped 45000 after being unchanged in february
at that time merrill lynch told the company it would consider a 43 dlr a share tender offer in cash and securities if the borg warner board approved it said
the central bank purchased bank bills outright comprising four mln stg in band one at 10 7 8 pct and 33 mln stg in band two at 10 13 16 pct
oper shr loss five cts vs loss 24 cts oper net loss 165000 vs loss 802000 revs 4988000 vs 3101000 year oper shr loss 13 cts vs loss 133 dlrs oper net loss 454000 vs loss 4407000 revs 231 mln vs 8937000 note results restated for discontinued operations
shr two cts vs 36 cts net 182000 vs 3433000 revs 201 mln vs 214 mln year shr 71 cts vs 98 cts net 6706000 vs 9275000 revs 857 mln vs 754 mln note 1985 net both periods includes gain 743000 dlrs from cancellation of debt
tonka corp tka raises dividend
the exercise price has been set at 810 yen per share which represents a premium of 253 pct over todays closing price of 790 yen
among other measures the ipma also decided that the criteria for membership should be tightened to exclude some of the smaller firms
harcourt brace jovanovich inc officials were not available for comment on market rumors that it is interested in acquiring reed international plc reedl officials of first boston inc harcourts financial adviser declined comment
cominco lead zinc union rejects contract
previously redstone offered eight pct interest
shr profit nil vs loss five cts net profit 232 vs loss 124380 revs 143397 vs 61901 1st half shr profit one ct vs loss 10 cts net profit 15722 vs loss 264539 revs 354843 vs 120403
the group cyacq acquisition corp also said it extended the offer until april three from march 20
she said if private sector investment continued to be held back by the fear of a balance of payments crisis and rising interest rates the country would fail to achieve its gross national product gnp growth target of an average 65 pct over the next six years
committee sources said de zeeuw expressed concern over protectionism and high farm price supports
the bank of japan bought a small amount of dollars shortly after the opening at around 14530 yen dealers said
as a result of the price increase made through waste managements wholly owned subsidiary wmx acquisition corp the offer has been extended and the withdrawal rights will not expire at midnight edt april two unless further extended
broadly defined m 3 figures released today showed growth of 178 pct in the year ended december compared with 131 pct in the year ended september
we are bringing forward the respective negotiations whose conclusion we hope finalises in the next few weeks finance minister domingo cordovez said last week that quake hit ecuador sought through negotiations to postpone all payments due to the private foreign banks in 1987 until next year
the location of a warehouse in singapore is also a positive move by the lme given its ideal location for australian and japanese traders who would be able to place metal on to warrant speedily and relatively inexpensively they said
chrysler c sets stock split higher dividend
twa twa confirms ownership of usair u stock
the ministry later approved the arrangement
a aa1 rating was assigned to dnc international finance as 10 billion yen of five pct guaranteed eurobonds due 1994
but others said this was old business
kurz kasch inc a dayton thermoset molding maker told the securities and exchange commission it had increased its holdings in component technology corp by two pct to 93 pct
engineering measurements emco sets partnership
bank of montreal brazils largest canadian bank creditor said last week it was not currently considering declaring its 198 billion dlrs of brazilian loans as non performing
by raising the minimum amount of aid required in mixed credits the agreement aims to make such hidden subsidies too costly for frequent use
oil output was halted on march 5 by an earthquake which damaged 50 km of the main pipeline linking jungle oilfields at lago agrio to the ecuadorean port of balao on the pacific
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
years of continuous low prices have plunged the sugar industry in many countries in the region into a recession from which it will be hard to recover
peru consumer prices rise 59 pct in may
this was cleary a political decision hall said
the agreement extends a standstill arrangement expiring june 30 that has been in place since august 1985
reagan lifted 51 mln dlrs of the sanctions last june after japan ended selling the semiconductors on the us market at below production costs
sonesta international hotels corp snst 4th qtr
alex brown inc absbo 3rd qet
italys overall balance of payments showed a deficit of 3211 billion lire in may compared with a surplus of 2040 billion in april provisional bank of italy figures show
portugals deficit with spain was 832 billion escudos against 577 billion in 1985 with italy it was 704 billion against 303 billion and with west germany 405 billion against 191 billion
american barrick resources corp said it sold two coal supply agreements and certain mining equipment representing substantially all of the assets of its two ohio coal mines to peabody coal co of kentucky
under a nonbinding letter of intent signed in june 1986 oxford would pay 11 dlrs per first federal share subject to first federal shareholder approval
shr loss 52 cts vs loss 49 cts net loss 3142000 vs loss 2936000 sales 409 mln vs 401 mln note year ago share results adjusted for five for four stock split in august 1986
pressure for change has mounted because the mexican deal has been even more difficult to syndicate than bankers feared
the rural banking and finance corporation of new zealand is issuing a zero coupon eurobond with a total redemption amount of 19 billion yen lead manager nomura international ltd said
international pagurian has five month profit
the issue is available in denominations of 5000 dlrs and is convertible from may 20 1987 until march 20 2002
another possible cost to refiners is the upgrading of facilities to produce a third grade of unleaded gasoline which is beginning to be marketed by some companies
strong japanese insurers can accumulate cash to ward off shocks from any foreign investment standard and poors said
david t
loral corp lor 2nd qtr sept 30
growth prospects for agriculture in 1987 do not look promising as rice production is forecast to decline and the production of sugarcane rubber and copra show little or no gain the report says
suralco bauxite refinery reopened
de croo gave no deals on how he though the issue might be resolved
nearly 60 pct of the crop has been harvested in parana and slightly less in sao paulo it said
even if futures fell the daily limit of 150 cents today producers could still lock in a profit which increases the likelihood of heavy selling pressure today
malaysia cuts gazetted rubber price
qtly cash distribution 305 cts vs 184 cts prior pay may 15 record march 31 note prior quarter dividend was an initial payout based on operations for a partial fourth quarter in 1986
japan housing starts rise in february
the monthly report is based on questions asked of purchasing managers at 250 us industrial companies
quest biotechnology inc said its new subsidiary quest blood substitute inc signed the agreement and plan of merger with hunt research corp and its affiliate icas corp
payment date is april 9
although these had made minor contribution to profits the real benefits would come in 1988 and beyond
economic spotlight bolivia
in his prepared remarks clark said that the united states has tended to take canada for granted although it exports to its northern neighbor more than twice what it exports to japan
but if the pipeline is down more than 10 days it will be difficult to make up without prorationing and we would not like to proration this pipeline if we dont have to the basin pipeline is jointly owned by atlantic richfield corp arc shell oil co a subsidiary of the royal dutch shell group rd and texaco inc tx which is the pipelines operator
undewriters have been granted an option to purchase up to another 135000 shares to cover overallotments
the adjusted index of producers inventories of finished goods base 1980 for january was unchanged from a preliminary 1059 the index was down 03 pct from december when it rose 11 pct
the newspaper said the administration has placed increased emphasis on stockpiling oil reserves
in 1987 a total manufacturing activities will generate about 235 mln dlrs in revenues and engineering and construction about 200 mln dlrs he said adding that defense products operations should be a major contributor to earnings
the notes and paper will be issued by iels sydney based subsidiary iel finance ltd
the company also said its long term debt was reduced by about 15 billion dlrs from the third quarter to the end of the year by asset sales and equity offerings
the bundesbank declined to comment on rumours in tokyo that it was intervening heavily to support the dollar but dealers here said they had not seen the german central bank in the market all morning
in addition homestake has two lines of credit totaling 150 mln dlrs which have not been drawn on today and could be used to finance an acquisition he said
i told him we are not a colony or something said watanabe
statoil boosted output at its gullfaks field to 109670 bpd in september compared with 100188 in august
overseas unions profits are expected to jump to over 40 mln dlrs from seven mln dlrs in 1986 economists said
the companies said they would jointly own the hotel and rename it the four seasons biltmore at santa barbara
terms were not disclosed
dixie yarns inc and ti caro inc jointly said they signed a merger agreement calling for dixie to acquire all ti caros stock in exchange for three mln of dixies common
taiwans trade surplus with the united states hit 136 billion dlrs last year
british petroleum co plc does not intend to raise the price of its planned 70 dlr per share offer for the publicly held 45 pct of standard oil co bp managing director david simon said
shr loss 931 dlrs vs loss 162 dlrs net loss 162 mln vs loss 28 mln revs 994 mln vs 965 mln note 1986 includes loss of 39 mln dlrs from restructuring
in its productive life recovered average grade at bulolo was 03 rpt 03 grams a tonne from some 207 mln cubic metres of gravel it said
catell and kenneth f
brazils labour unrest is spreading with many banks universities and government statistical offices on strike and more pay disputes looming
on the demand side winter battery manufacture has held up quite well and some us buying of lead sheet has been reported in the uk soviet lead buying notably absent in europe in the first two months of the year was resumed when a large buying order was filled by merchants in march
cut were the firms senior debt eurodebt and senior guaranteed eurodebt to a 1 from aa 3 and subordinated debt to a 2 from a 1
last week waste management made a tender offer to acquire chemlawn for 27 dlrs per share or 270 mln dlrs
horizon bank hrzb sets stock split
phelps dodge is the nations largest copper company with annual production expected to reach 500000 tons this year
but the rapid industrialisation of the countryside which has occurred at the same time has gobbled up arable land for factories and homes for peasants who can now afford them
it could happen any time jauppi says
only 11 of these 37 super giant fields lie outside the middle east and only five of the 37 have been discovered in the last 20 years three of them in the middle east he said
speaking to reporters at the brazilian embassy funaro said he would not seek approval of brazils economic program outside his country but added at the same time we show credibility you the banks are going to have to trust us asked if creditor banks would accept brazils refinancing needs based on a new economic program not endorsed by the international monetary fund funaro said what other options do they have they have to try to see our program funaro who is in washington to attend the interim committee and development committee meetings of the world bank and imf said he unveiled his refinancing proposals to the major creditor banks in new york yesterday
we will not get another chance before the year 2000 the ministers are in new zealand to review world trade since the uruguay round talks last sepember
in a statement burke said he plans to announce a major change in the companys organization in the next few days
it said the offering will be underwritten by ryan beck and co west orange nj
he declined to forecast what if any policy decisions the bundesbank might take
the commission will draw up a new system of steel production quotas to protect vulnerable ec firms from the full rigors of open competition
prior year net includes tax credits of 537 mln dlrs in quarter and 329 mln dlrs in half
rather than using accounting tools to reflect income it is not taking in the company will now account for only the 40 pct of the cost of owning and operating the plant that regulators are allowing in the form of interim rate relief barnes said
commenting on the first tranche gallatin noted that the original pricing talk called for a dividend in the four to 420 pct area
kyushu electric to issue 20 billion yen bond
nationwide mutual insurance co said its property casualty companies had a net loss of 56 mln dlrs last year while its life insurance operations earned 668 mln dlrs
this means bundling different mortgages together to resemble a bond and selling them to an investor
singapore laws to liberalise local capital market
the bond guaranteed by austria will be issued in denominations of 1000 and 10000 marks
alcoa declines specific comment on options trade
the brazilian coffee institute ibc tonight closed export registrations exporters said
qatar unveils budget for fiscal 1987 88
fees comprise 1 1 4 pct selling concession and 5 8 pct for management and underwriting combined
the new cds repayable from six months to one year carry interest rates ranging from 407 pct to five pct he said
cml group inc cmlio 3rd qtr net
the caribbean export credit bank scheduled to begin operations january 1 1988 will be headquartered in barbados
west germany now has options contracts on about five pct of shares and bonds traded on exchanges here covering only about 30 pct of the average traded volume stock market sources said
shr 69 cts vs 67 cts net 2488000 vs 2435000 revs 276 mln vs 265 mln
but santana said if the saudis change their minds and decide to respect the terms of the contract then petrobras will lift the order to cancel the shipment
macmillan bloedel ltd said shareholders authorized a previously announced three for one stock split applicable to holders of record april nine
however kramer said the lower economic growth should have no notable effect on the governments attempts to cut the budget deficit
qtly div seven cts vs seven cts prior pay may eight record april 17
atlee burpee co to a new company formed by wicks capital corp bankers trust new york corp bt and burpee management for undisclosed terms
shr 39 cts vs not given net 707000 vs 505000 note company went public in july 1986
meanwhile it will sell additional quantities of gas on the spot market
but they expected that many investments had not been cancelled but only put off
the drilling diving and supply vessels sectors had been most affected buchanan snith told the house of commons energy committee
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
administration officials who asked not to be named have also debated whether to allow banks greater flexibility in building up loan loss reserves against third world loans
paris group publishing daily franc tin price
coffee does not need very much water to survive and only old cocoa plants have been affected in some regions it added
drawings under the five year facility will be subject to a cap rate of 1 8 pct over the london interbank offered rate or acceptance commission
the congressional budget office cbo the nonpartisan budget analysis arm of congress said federal loans or loan guarantees would be preferable options for congress rather than increased trade protection which could lead to foreign retaliation
both were failures in the united states although woolco still operates in canada
burlington lawyers claim dominions board decided to attempt a takeover of burlington after ammeen met with the board in february
standard products co spd 1st qtr sept 30 net
braverman said economic activity next quarter will suffer from a paring of inventories lower capital investment slow government spending and less construction
us supreme court allows offshore alaskan oil and gas exploration
and even if japan had the additional ethylene there is a logistical problem of finding extra appropriate sized vessels to ship it to korea said one trading house source
king fahd said saudi arabia the worlds largest oil exporter was adhering to decisions made at opecs december conference which set a 158 mln bpd output ceiling for the first half of 1987
striking brazil seamen threaten mass resignation
the bank official noted m 3 which includes m 1 money supply plus savings time deposits and deposit substitutes
year on year m 3 rose 1777 pct from a revised 1534 pct in november and 2050 pct in december 1985
shr loss 31 cts vs loss eight cts net loss 1780000 vs loss 449000 revs 139 mln vs 178 mln note current 1st qtr loss included a gain of 870000 dlrs and 70000 dlrs from the sale of restaurant leases
a company spokesman could not elaborate on the short statement
if its a by product of freer competition we have no choice but to accept it the council is due to close its discussions on june 12
but the weight of foreign currency and gold reserves now available to the authorities to support the pound should curb any market tendency to panic if uk opinion polls show the ruling conservative partys lead slipping they added
novar electronics corp novr 4th qtr jan three
the new company shall immediately set to work on the feasibility study of constructing a new cable for itself watanabe said
intnl platinum degussa in joint venture talks
in the coastal stretches of the gulf of bothnia which divides finland and sweden the ice is up to one metre thick with drifts and currents packing it into almost impenetrable walls three metres high swedish coastguard officials said
there are currently about 42 mln shares issued and outstanding it noted
the bank also said total non accrual loans increased to 24 billion dlrs in the first quarter from year ago 18 billion dlrs
however he noted that the us household products business had turned in a planned loss with fourth quarter performance better than expected despite the anticipated heavy launch costs of its surf detergents
previously the fed said consumer credit rose 105 mln dlrs in december
fw woolworth co says it hikes dividend to 33 cts a share from 28 cts
monetary sources have said a fully blown meeting of the group of seven is expected to begin around 3 pm local time 1900 gmt and last at least until 6 pm 2200 gmt when a communique is expected to be issued
sunter begins tender for allegheny ag 
they said 1987 maize deliveries are expected to decline to around 520000 tonnes from 16 mln tonnes last year
its working out very well and i think well get clear majority nogales said
utahs assets include stakes of 4025 to 5225 pct in seven large central queensland coking mines 49 pct of the samarco iron ore operation in brazil 60 pct of la escondida copper deposit in chile the island copper mine at port hardy in canada 70 pct of a coal mine and 30 pct of a gold mine in south africa and coal and other mines in the us bhp minerals assets include wholly and partly owned iron ore mines coal mines manganese and base metal operations or prospects and 30 pct of the ok tedi gold copper project in papua new guinea
audi had predicted last year that 1986 profit would likely fall by an unspecified amount from 1985s record levels
shr loss 64 cts vs loss 170 dlrs net loss 134 mln vs loss 356 mln revs 479 mln vs 721 mln note1985 includes loss of 941000 from discontinued operations and 58 mln dlrs from disposal of net asset solds
anova said it created duvel to act as a blind pool and will seek an operating private company to merger with duvel
we have run this alternative proposal to the accounting firms
west germany imported 56823 tonnes of fishmeal in december up from 46236 tonnes in the same 1985 month with re exports at 22262 tonnes after 25062 a year earlier
the company said it is also offering 678 common shares for each 1000 dlrs of its 753000 dlrs of outstanding 11 7 8 pct subordinated debentures due may 15 1998 and 595 common shares for each 1000 dlrs principal amount of its 6572000 dlrs of 10 1 2 pct convertible subordinated debentures due feb 1 2002
1987 1st quarter revenues include rockport revenues of 31 mln dlrs
dome petroleum reiterated in the sec filing that its existence as a going concern is dependent on continuing the interim debt plan due to expire on june 30 and winning agreement for its proposed restructuring plan
it said the new plant is expected to be in operation before year end and and will more than double gilliams production capacity for upholstered furniture
we wont be reacting further until these discussions with the high commissioner and the prime minister have been held palmer said
seton said the agreement and plan of merger provides that all shares of seton co common stock not held by s acquisition corp or its units will be converted upon the merger into the right to receive 1588 dlrs per share in cash
in santa fe and entre rios provinces they were over 100 mm in places in misiones and san luis 90 mm and in cordoba 80 mm
this mornings sharp decline in coffee prices following the breakdown late last night of negotiations in london to reintroduce international coffee organization ico quotas will be short lived dutch roasters said
corroon and black cbl complete acquisition
flat prices for chinese beans are based on futures prices in chicago plus the fob premium
commenting on yesterdays report on economic restructuring by a high level advisory panel to nakasone miyazawa said it was important to put the panels recommendations into effect
there was a real run on sterling said anne mills of shearson lehman brothers inc
he told japanese business leaders the bank of japan will continue to take adequate measures including market intervention to stabilize exchange rates if necessary in close cooperation with other major industrialized nations
the utility said the agreement also resolves any issue relating to the prudence of the planning management and construction of palo verde and settles any possible issue of excess generating capacity through 1993
the group of investors include affiliates of radix organization inc the company said
however that number is substantially lower than growth last year a company spokesman said
the earthquake last thursday night registered six on the 12 point international mercalli scale
if the wheat board which markets most of canadas grain obtains higher than expected prices on world markets the farmers receive a final payment at the end of the crop year
estimated drop in japan corporate profits trimmed
pagex has been formed by paul a
the world bank intends to bring borrowing forward into the first half of 1987 because it expects global interest rates to rise by year end world bank vice president and treasurer eugene rotberg said
late yesterday hughes said it had terminated the merger agreement because baker would not agree to an alternative divestiture plan devised by hughes
traders cautioned that views on the impact of the buffer stock were all prognostication and that no one could hope to predict accurately what the result would be
the government lowered local taxes for exporters and said the export registration price or reintegro will be changed more often in order to closely reflect market trends
shr nil vs nil net profit 24000 vs loss 66000 revs 235000 vs 93000 six mths shr nil vs nil net profit 40000 vs loss 153000 revs 394000 vs 99000
such expectations are now ingrained which was partly the fault of nakasone who heralded maekawas report as a sea of change in japanese affairs said us officials
french free market cereal export bids detailed
this was owing to higher agricultural production and the kenyan shillings relative strength against other major currencies the report said
in february canadian energy minister marcel masse was invited to caracas for talks with hernandez on proposals for an oil import tax
the dollar recovered slightly from the intervention and was trading around 14500 they added
a bank of japan spokesman declined to comment on a press report that the central bank had decided to conduct closer scrutiny of the operations of financial institutions in the bond market
rates in the us were however rising as evidenced by the latest prime rate moves but this rise would be moderate
the department said deficiency payment rates of 515 cents per bushel for corn and 49 cents per bushel for sorghum were received by producers requesting advance payments
the main reason fo the fall in turnover was the lower rate of the dollar the company said
volt information sciences inc volt 1st qtr
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
the expected proposal is likely to await passage of a provisional budget for 1987 88 starting april 1 by the lower house of parliament on march 30 the sources said
itj and international digital communications planning inc idc in which both cable and wireless plc and pacific telesis group own 20 pct stakes are set to merge into a new entity to compete against kokusai denshin denwa co ltd
a us navy battle group led by the us aircraft carrier kitty hawk is in the northern arabian sea amid renewed concern about the safety of shipping off the coast of iran us officials said today
japans beef import quota in 1987 88 was set at 93000 tonnes against 85000 for the same period in 1986 87
the company was appealing against a decision of the tax commissioners that any such provision was a capital expenditure not a revenue expenditure and was not deductible
we do not have anything actively under consideration he said
daewoo corp calendar 1986
new jersey resources njr to offer shares
api says distillate stocks off 407 mln bbls gasoline off 269 mln crude up 853 mln
crivits said the company will report an improved but still unprofitable third quarter ended february 28 compared to a loss of 22 cts a share in the year ago thrid quarter
that agreement hammered out late last year after months of heated negotiations called on japan to stop selling cut price chips in world markets and to buy more american made chips
capital costs would be 223 mln dlrs with all new equipment and 500000 to one mln dlrs less with used equipment it said
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
this is strictly seasonal said charles bradford of merrill lynch and co
the index for input prices also not seasonally adjusted was set at 1282 in march after februarys 1296 the 11 pct fall in input prices between february and march was mainly due to a seasonal fall in industrial electricity costs and lower scheduled prices for petroleum products the department said
polysar ltd wholly owned by canada development corp said it agreed to form a joint venture with raision tehtaat of finland to build a synthetic rubber latex plant in southern finland
this mood easily led to over reaction analysts said
philippine debt talks proceed with narrower focus
interest will be payable march 15 and september 15 starting september 1987
the average price for the six months bills was 97174 and prices ranged from 97169 to 97189
edac technologies corp edaco 3rd qtr net
shr 16 cts vs 22 cts net 1226597 vs 1327016 revs 6598580 vs 5921828
pittston said its burlington air express subsidiary generates about two thirds of its 450 mln dlrs in annual revenes with its domestic air freight services
the new formula is based on six year moving averages and would give brazil the worlds biggest coffee producer an unchanged quota for the remaining two years of the current coffee agreement van horick said
sentiment has also been aided by suggestions that chinese operators may be in the market for similar timecharter business later in the year they said
when the sale is complete it will bring to 24 the number of restaurants operated by national pizza the company said
uk money market deficit further revised upward
schlumberger ltd said it terminated an agreement in principle for fujitsu ltd to buy 80 pct of its fairchild semiconductor operations
enka bv a subsidiary of akzo nv akzoas said it has concluded a licence agreement with the fibres division of basf corp of delaware a unit of basf ag basff of west germany in the us on the colback industrial non woven fibres
lands end inc leys year jan 31 net
olin corp said construction was completed on a 150 mln dlrs chlor alkali plant it owns jointly with ei du pont de nemours co
pay n pak pnp receives amended proposal
south africa problems remain despite debt pact
rumors of an impending deal have coursed through wheat markets since officials from the two countries held their customary semi annual grain talks in february
the agreement guarantees access to the spanish market for two mln tonnes of non ec maize a year for the next four years
fed adds reserves via overnight repurchases
he said south africa was the most likely source of additional supplies and will need to increase output by about 500000 ounces to meet increased demand
the financing being arranged by morgan guaranty will take the form of a fully committed revolving credit
the field in the southern sector of the gulf of thailand is currently operated by us oil company texas pacific oil co inc a unit of canadas seagram co ltd von thailands state oil company petroleum authority thailand ptt also holds a major stake in the field
cra expects to pay final dividend of 10 cents
the increase is in reaction to sun co raising postings similarly yesterday
stone said it will proceed with its previously proposed acquisition of southwest
lawsons decision to restrict the fall in the standard rate of tax to two pence surprised many analysts who had predicted that with treasurys coffers full of tax revenue would have allowed the government to reach its goal of 25 pct in one move
gynex said because of the recent introduction of the products it believes only a limited number of packages have been dispensed to consumers
output reductions by producers will take effect later this year but are likely to be offset by increases elsewhere
the units have been operating under protection of chapter 11 of the us bankruptcy code since last november
philip crosby associates inc said it has agreed to acquire process integrity inc of dallas a computer software designer for undisclosed terms
the conversion price on the 175 mln australian dlr convertible eurobond for bell group nv has been set at 1337 australian dlrs per share lead manager banque paribas capital markets said
sterling cds were similarly down between 5 16 point in one month and 1 8 point in one year
it said the company expected to realize a reduced fuel economy but is working on improving fuel consumption
lyng added that there seems some support in congress for 0 92 and there was a good chance a pilot 0 92 program will be passed as part of a pending disaster bill
the companys implied senior debt rating is b
digital communications associates inc said the us district court issued a ruling prohibiting softklone distributing corp from selling a software product that digital claimed violates one of its copyrights
heavy snow blanketted central and south jilin and north liaoning leaving farmland too muddy for spring ploughing and sowing the paper said
the figure was 26 pct higher than in december 1985
the securities are available in denominations of one mln yen each and are payable on april 23 1987
1986 year net loss after exceptional charges 198 mln francs vs profit 250 mln exceptional provisions for closure of viviez electrolysis plant 187 mln francs vs exceptional gain 22 mln sales and services 1651 billion francs vs 2020 billion proposed net dividend on ordinary shares nil vs 110 francs companys full name is vieille montagne sa vmnbbr
the company still faces uncertainties in the real estate market and anticipates further deterioration in the pportfolio so long as the regional recession persists first city said
planned projects were further slowed down in 1986 because of the countrys budgetary problems he added
he said it could cause the collapse of world demand and prices and destroy the domestic industry
daiwa became the second foreign firm to manage an offering in the domestic debt market in september 1986 when it won in competitive bidding 125 mln dlrs of 10 year first mortgage bonds of general telephone co of california a unit of gte corp gte it followed the lead of ubs securities inc the us unit of union bank of switzerland
they prefer peaceful amicable deals but now after some experience overseas japanese companies are acquainted with local practice he adds
uk industrial production rose a provisional 04 pct in january after a 06 pct decline in december 1986 figures from the central statistical office show
the report said saudi arabia had been sending clear signals on the need to maintain oil prices at current levels of around 18 dlrs a barrel and adopt provisional output rises agreed in december when opec meets in vienna on june 25
yields on certificates of deposit offered by the united arab emirates central bank were higher than last mondays offering the bank said
park electrochemical corp pke sets payout
metromail corp said it expects earnings for the year to be about flat due to higher expenses caused by an expansion of data processing capabilities and startup costs associated with new cooperative programs that will continue into the fourth quarter
weyerhaeuser co said it should have significant increases in earnings in 1987 and 1988 should be another very good year
the federal reserve entered the us government securities market to arrange three day system repurchase agreements a fed spokesman said
pittsburgh and west virginia railroad pw net
a high command communique said warplanes hit the western jetty at irans kharg island oil terminal in the afternoon and struck a supertanker nearby at the same time
a spokeswoman told the company would have an official response to edelmans bid by friday oct 23
members of the united food and commercial workers union ufcw local 222 voted sunday to go on strike against iowa beef processors inc dakota city nebraska plant effective tuesday
dutch coffee roasters association secretary jan de vries said although the roasters were disappointed at the failure of consumer and producer ico representatives to agree on quota reintroduction it was equally important that quotas be reallocated on a more equitable basis
big bell in the murchison goldfield 540 km north east of perth was founded in 1904
turner broadcasting system inc said the investment by the cable consortium would be in turner broadcasting not directly in cnn
the payment date april 9 1987
the tonnage sold in both sectors declined due to higher prices and lower consumer demand especially in france and west germany
orders in hand for the five months were 167 pct higher at 864 billion marks
analysts said it also raises bps visibility ahead of the british governments announced disposal of 317 pct of bp stock
accepted bids ranged between 1951 and 2060 pct compared with 1874 and 2048 pct previously
the loan carries 495 pct interest in the first year rising to 585 pct in the fourth year
the dutch news agency said suralco a subsidiary of the aluminum company of americaalcoa wanted to reduce its work force because it had been hard hit by guerrilla attacks that cut power lines to the area in january
but eyskens said this coordination raised a whole range of technical problems and ministers would discuss these further in luxembourg in june on the basis of proposals from the ecs monetary committee and committee of central bank governors
how can there be a program if there is no finance she said adding ongpins stand was not good for the economy
qtly div 51 cts vs 51 cts prior pay april one record march 23
it would only take five minutes to list their accomplishments a senior us official replied
it said the wells initial production is expected to be restricted to an allowable level of about 300 barrels a day although it is capable of sustaining much higher rates
traders said the report notes that earnings from australian gold holdings could be worth about 35 cts to 55 cts a share this year and 140 dlrs to two dlrs a share in 1988
on february 20 the brazilian government suspended interest payments on part of its huge foreign debt following a sharp deterioration in its trade balance
the 1987 annual dividend will be 40 cts a share it said
the 12 year 94 day bond is issued at 98672 pct
global operations which made up 22 pct of royal trusts 154 mln dlr 1986 net profit will post 33 pct profit growth this year against an expected 15 pct jump in total company profit cornelissen told in an interview
treasurys baker under fire for wall street drop
the scheme also proposes using remote subsea production wells to tap the fields reservoir estimated to contain 375 mln barrels of oil and an offshore buoy loading system to transport oil from the field by ship
we will have further comment when it is appropriate
stewart sandwiches inc said it has sold its coffee roasting plant to sara lee corps superior coffee and foods subsidiary for undisclosed terms
other ec countries have bought large amounts of british grain and for the july 1 march 25 period had taken 259 mln tonnes of wheat and 206 mln tonnes of barley
bankers welcomed the central bank measures saying these were needed to accelerate the domestic money market
kaakebeen said the firm had one vessel at the scene and another on its way with divers on board
the issues included are 297 mln dlrs of 9 1 2 pct series due 2000 at the regular redemption price of 1044 pct 5174 mln dlrs of the 9 7 8 pct series due 2008 at the redemption price of 100 pct and 1326 mln dlrs of the 9 7 8 pct series due 2008 at 10663 pct
american west bank first qtr net
but as exports were diverted and imports increased to avoid further domestic shortages the trade surplus plunged to 211 mln dlrs in october and since then has averaged under 150 mln
since 1980 the total free market export supply has fallen to 18 mln from about 22 mln tonnes
the central bank said the value of exports from january to august 1987 stood at 1132 billion dlrs and imports 1204 billion dlrs
it said in a statement the g 7 meeting which italy plans to attend will provide a forum for considering the tokyo accord in the light of events in paris in february this year
it said government compensation in the form of subsidies to refiners to partially cover stock losses together with improved crude prices in the second half enabled the groups oil business to make a modest pre tax profit
congressional ire is rising against the multinational development banks which make loans to help other countries produce goods in direct competition with beleagured us farmers and miners
1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 domestic use 430 430 488 488 exports 650 600 420 420 total use 1080 1030 908 908 end stocks x 406 456 493 493 avgpric 345 425 345 424 686 686 note average price in dlrs per cwt
qtly div nine cts vs nine cts prior pay april 13 record march 30
sorghum is priced per cwt corn yellow grade only
results awaited on egypt pl 480 wheat tender
he said the segment of the pipeline that was damaged was underground and at a distance from the red river that flooded
he also said the the cabinet approved negotiations with foreign bank creditors to refinance 300 mln dlrs in banco de los trabajadores de venezuela btv debt with a re lending clause channeling back repayments through the state owned banco industrial de venezuela biv the btv refinancing carries an interest rate margin of 3 8 pct over eight years
petroleum intelligence weekly an influential trade journal said in its current issue that they understood that exxon was looking at the possibility of refinery closures in antwerp southern france or possibly italy
as previuosly announced fww will now proceed with the cash merger in which all shares of armel other than those held by fww or woolworth will be entitled to receive 775 dlrs per share
but economists agreed not even the auctions will generate enough impetus for a major move
the offer for the remaining shares is one chase share for every three entregrowth shares and one chase option for every four entregrowth options
the recent fall in world sugar prices due to increased producer pricing sales and evidence of export availability has encouraged renewed buying interest from china and the soviet union london trade house edand f
further equitorial said it is in default of two other oblitations in connection with the purchase or lease of transponders as a result of cross default provisions
one dealer said the central bank bought about 200 mln dlrs through brokers and the rest through banks
shr 38 cts vs 28 cts net 186 mln vs 145 mln revs 5742 mln vs 4933 mln avg shrs 48602000 vs 50487000 nine months shr 85 cts vs 61 cts net 415 mln vs 328 mln revs 162 billion vs 140 billion avg shrs 48622000 vs 51670000 note 1987 results do not include september acquisiton of dennys inc
it is requesting metromedia pay 100 pct of the principal amount plus a default amount equal to 575 dlrs per 1000 dlr principal amount of the debentures
in the us there is too much money chasing too few stocks pickens said
in an apparent gesture to baker coinciding with his visit the bundesbank repeatedly added money market liquidity this morning
brazil will lift moratorium only after bank pact
analysts said controlling shareholders might use the b shares to retain corporate control while selling some of their existing holdings to finance new investments
the two papers gave no more details
in february petrol prices increased but winter clothing prices stayed low and vegetable prices fell
mine production of gold in the 12 month period jan dec 1986 totaled 2951151 ounces vs 2475436 ounces over the same period in 1985
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
it also forecast higher 1987 sales due to an increased order backlog
last year illinois regional had discussions with milwaukee based marine corp mcrp but no agreement was reached a company spokesman said
investor has 80 pct of allegheny intl ag 
we have not gone from no confidence to full confidence yet commented one banker who saw the agreement as having marginal influence on fundamental economic problems
a severe attack of pod rot can cause the loss of over 500000 bags in a very short period one source said
msuya said regular petrol would go up 52 pct with similar increases in the cost of premium and kerosene
north american group namg buys georgia firm
the central bank purchased bank bills outright at the new dealing rates established yesterday
sales of new single family homes in the united states fell 68 pct in january from december to a seasonally adjusted annual rate of 716000 units the commerce department said
keihin electric express issues 150 mln dlr bond
the bonus awards were made to cargill inc 305000 tonnes continental grain co 155000 tonnes mitsubishi international corp 60000 tonnes and richco grain co 30000 tonnes bonuses will be paid to the exporters in the form of commodities from ccc stocks
prices of rice and wheat have risen at least 15 pct in the past month market sources said
the country has set its export target for the year at 11 billion us dlrs against imports of 1805 billion dlrs compared with 1986 7s one billion dlrs of export earnings and 1113 billion dlrs of imports
us exporters report 350000 tonnes corn switched from unknown to ussr for 1986 87
in december cpc acquired arnold foods and old london for a total of about 170 mln dlrs
the ruling appeared to mean that tax relief on the expensive process of abandoning rigs would apply when the expense occurred not when provisions for future expenses were built into the accounts one analyst added
it has been successful and continues to be succesfull a senior us treasury official told reporters
trading did not open in these issues either
corn guesses ranged from 22 mln to 26 mln bushels compared with 252 mln bushels a week ago and 224 million bushels a year ago
it said its overall financial position showed further improvement in 1986 and the reshaping of its uk business into clearly defined and activity related divisions had been successfully achieved
auditors give first city fbt qualified opinion
us wheat credits for jordan switched
higashi nippon house said it would offer around 2200 acres of land in illinois california florida and indiana from early april to gauge response
the west german governments independent council of economic experts believes a further stimulation of the economy is inappropriate government spokesman friedhelm ost said
egyptian central bank dollar rate unchanged
the principle that this when issued trading should take place has been accepted by the executive committee of the international stock exchange said george nissen chairman of the gilt edged market makers association gemma its a question of how rather than whether he told 
united tote inc toteo 2nd qtr april 30
john labatt to issue 125 mln dlrs of debentures
gould added that it accounted for the division as a discontinued operation
but the supreme court said the appeals court was wrong in issuing an injunction halting exploration
theyve also begun to realise that you cannot legislate solutions to a 170 billion dollar trade deficit so they are more realistic and in my judgement more responsible on that issue than they were 12 or 18 months ago he added whether that will be reflected in the legislation that eventually emerges is another matter
japan mexico south korea italy and israel were the major purchasers the department said
capitol said to maintain an adequate capital ratio it will seek additional equity capital in the near future
edelman group in plan to buy morse shoe mrs 
this means that any possible compromise would centre on the reference price and the may buy or may sell and must buy or must sell levels without changing the lower indicative price which is set at 150 malaysian singapore cents in the current pact
french traders forecast ec sugar tender
the company said the sale is subject to certain post closing adjustments which it did not explain
as a result of the offer some 45 pct of glaverbels capital or two mln shares will be listed on the brussels bourse
japanese banks object to the short term paper market which they see encroaching on their business territory
according to kna moi thanked camdessus for the imfs help to kenya during difficult times in the past
new england electric system nes expects its cash construction spending to reach 205 mln dlrs this year up from 188 mln dlrs in 1986 the utility said in material distributed at an analysts meeting
southwest airlines cos transtar airlines corp said it will add nonstop flights from houstons hobby airport to orlando tampa st
brazils debt would increase in dollar terms but remain constant in real terms
borrowings will be available in currencies other than dollars and banks have been invited to join as lead managers at 15 mln dlrs for 75 basis points and as managers at 75 mln dlrs for five basis points
blue arrow to acquire richards consultants
the 20 year loan supports a project aimed at improving the efficiency of medium scale fertilizer plants through technical renovations and energy conservation the bank said
the ico executive board will meet from march 30 to april 1 but the full council is not due to meet again until september
successful bidders the amount of oil and price per bbl according to the doe continue as follows chevrons chv chevron usa inc 3000 bpd at 1451 dlrs and 4000 bpd at 1461 dlrs chevron international oil co 2600 bpd at 1441 dlrs and 2800 bpd at 1451 dlrs newhall refining co 6000 bpd at 1582 dlrs caljet inc 4000 bpd at 1532 dlrs casey co 4000 bpd at 1545 dlrs
an increase of some 23 billion dlrs is expected
shr 44 cts vs 54 cts net 429 mln vs 537 mln revs 9833 mln vs 8588 mln six mths shr 85 cts vs 111 dlrs net 831 mln vs 1098 mln revs 191 billion vs 166 billion
api says distillate gas stocks off in week
infinity infta to purchase am fm station
the zimbabwe government has bought 85 pct of the equity in astra corporation for 255 mln dlrs from netherlands based bommenede houdstermaatschappij nederland bv astra announced
the greens creek venture is engaged in final project engineering of a gold silver lead zinc ore body on admiralty island about 15 miles southwest of juneau alaska
the australian dollar eurobond launched yesterday for the republic of austria has been increased to 75 mln dlrs from the original 50 mln credit suisse first boston ltd said as lead manager
2 if the average of the daily market indicator prices over six months prior to a review is below or above the lower intervention price or the upper intervention price the reference price will be automatically revised downwards or upwards by five pct unless the international natural rubber organisation council decides on a higher percentage
in my view debt conversions or swaps into either equity or local debt claims provide a preferable route to debt relief for the debtor nations particularly if combined with measures to encourage new equity investment and the repatriation of flight capital he told the house subcommittee on international development institutions
petrobras cancelled a 40 mln dlr crude oil purchase from the saudis yesterday after they refused to accept a letter of credit from the bank of brazil demanding guarantees from leading international banks
turkish trade deficit widens in april
ccc credits for honduras switched to white corn
beet sugar output last year was 337 mln tonnes with an average yield of 800 tonnes per ha the highest in the ec apart from the netherlands but below 852 the previous year and a five year average 811
it is expected to rise to 468 billion us dlrs from 379 billion a year earlier and 341 billion during the first quarter
the new facility replaces old five day advances worth 80 billion guilders at the same rate
the amounts of what commodities are uncertain
non communist steel output continues to fall
portugal may have purchased a 30000 tonne cargo at its tender today for up to 43000 tonnes of number two yellow corn 145 pct maximum moisture for arrival by april 30 shipment via gulf ports us exporters said
finnish inflation falls to 35 pct in february
hernandez said pdsva has entered similar joint ventures with veba oel of west germany nynas petroelum in sweden and citgo in the united states
the debentures had been convertible at 34 dlrs per share
us exporters report 143000 tonnes corn sold to taiwan for 1986 87 1987 88
the underwriting margin was raised to 10 basis points over the australian dlr bank bill rate
the president added that if developing countries continue to experience foreign exchange outflows on this scale many will be unable to sustain a level of imports necessary to ensure economic growth
about 9000 miners employed by the state corporation comibol declared a general strike as from midnight 0400 gmt to press for higher salaries a statement by the federation for bolivian mine workers said
standard said the group will consider bps offer in due course noting the committee has retained the first boston corp and cravath swaine and moore as advisers
fourth quarter and full year 1986 includes net income of 815 mln dlrs or 134 dlrs a share
in addition it reported fiscal 1986 nine months net income of 44 mln dlrs or 40 cts a share versus a loss of 11 mln dlrs or 10 cts a share in fiscal 1985s first three quarters
chemical new york corp and texas bancshares inc tcb said the federal reserve board approved their proposed 119 billion dlr merger
faced with the possibility that he might have to go to the us virtually empty handed nakasone today ordered his ruling liberal democratic party ldp to come up with its own measures
augat inc aug sets quarterly dividend
no further details were immediately available
uncertainty is growing about the prospects for the economy as orders for industry fall and companies scale back investment plans the german savings banks and giro association said
b shipping sources said on tuesday night at least six sea captains had voiced fears that iran would avenge mondays us raids by unleashing more silkworm missiles at ships plying the gulf
a later suggestion increased this to five pct but cable said yesterday the idea was still unacceptable
the 8 dlr a share offer by entertainment marketing inc em for crazy eddie comes less than two weeks after founder eddie antar and a firm controlled by the belzbergs of canada announced a bid to take the 32 store crazy eddie chain private
it gained 26 mln new mouths to feed during the two years
comments are due by april 24 and a report to congress is required by law by may 10
lewis said if american express reduced its exposure to the brokerage business by selling part of shearson its stock might better reflect other assets such as the travel related services business
the corn will be shipped in the coming days from valencia
however observers have not forgotten the circumstances surrounding the administrations announcement of the wheat subsidy offer last summer
egypt bought 125723 tonnes of us wheat flour in its pl 480 tender yesterday trade sources said
before joining the treasury in november 1985 gould was a partner at the wall steet firm of wertheim and co and formerly headed donaldson lufkin and jenrette securities corp
gm gm unit offers 500 mln dlrs of notes
cassa di risparmio di roma launching cd program
tehran radio monitored by the bbc quoted a foreign ministry spokesman as saying any attempt at interference would be met by a strong response from iran and other moslems in the world us defence secretary caspar weinberger in remarks apparently unrelated to the broadcast said the us would do whatever was necessary to keep shipping lanes open in the face of new iranian anti ship missiles in the gulf
unicorp voting stake hiked in union enterprises
economists had expected three or six day repurchases because the fed needs to add a large volume of reserves this statement period
the deficit for the first quarter of 1987 widened to 123 billion dlrs from 120 billion a year earlier
chrysler c has no plans to raise bid
westpac in nz raises indicator lending rate
sales are expected to exceed 100 mln dlrs for the fiscal year ending june 30 the companies said in a joint statement
1987 nine mths also excludes 79 mln dlrs for estimated net gain on disposal of discontinued operations as of march 31 1987 including linotype group amphenol products ampex corp
home savings and loan association inc of durham nc said its board declared a 20 pct stock dividend payable april 28 to holders of record april three
canadian liquid plus short term assets fell 244 mln dlrs to 3512 billion dlrs and total canadian dollar major assets of the chartered banks rose 257 mln dlrs to 22153 billion dlrs
swearingen said he is concerned that continental will be taken over because no bank in the midwest region is large enough to buy it and new york money center banks are prohibited by law from buying illinois banks
the agreement signed last saturday in hong kong with a syndicate of eight indian and foreign banks including state bank of india london bankers trust co hong kong and grindlays bank plc london fixes the draw down period at 68 months the official said
the company added that the acquisition will close june 30
colombia is one of the countries that will benefit most from this situation he said
micropolis mlis to offer convertible debt
webb investment properties inc
shr loss two cts vs profit nine cts net loss 74000 vs profit 418000 sales 182 mln vs 175 mln year shr profit nine cts vs profit 26 cts net profit 426000 vs profit 1170000 sales 587 mln vs 567 mln
the king also urged the world community to help the palestinians return to their homeland and called for a peaceful end to the iran iraq war
bacob finance nv is issuing a 50 mln australian dlr eurobond due july 5 1990 paying 14 3 4 pct and priced at 101 3 8 pct lead manager goldman sachs international corp said
bank of japan to sell 1200 billion yen in bills
terms were not disclosed
credit lyonnais australia is issuing a 40 mln australian dlr eurobond paying 14 1 2 pct and priced at 101 1 8 pct lead manager hambros bank ltd said
in south eastern europe warm weather with some rainfall boosted beet development
world bank team arrives in uganda
in a filing with the secruties and exchange commission the edelman dominion group known as samjens acqusition corp said it sold options to buy 258800 burlington common shares reducing its stake in the company to 3408813 shares or 1233 pct from 3667313 shares or 133 pct
us oil dependency seen rising to record level
the ministries said the new prices aimed to ensure farmers profits and meet higher living costs
finance director niall fitzgerald added that while gearing debt to equity plus debt rose to about 60 pct at end 1986 from 35 pct last year this was expected to drop back to about 40 pct by end 1987
such considerations may be helping bond markets resist the equity crash according to mike osborne of kleinwort grieveson
bernstein and co inc
recent proposed offerings filed with sec
awb says australian wheat sales over 10 mln tonnes
he said the bank is studying revision of the foreign exchange rules in hope of further reducing currency controls but declined to give details
solv ex solv shell canada shc pact complete
finance minister barend du plessis will announce details at a news conference at 1500 gmt a spokesman said
at issue are us meat exports to the ec valued at 132 mln dlrs in 1985
neworld has assets of 12 billion dlrs and 24 officers in massachusetts
crazy eddie crzy sets defensive rights
the company added however that about 136 mln dlrs of the loss relates to discontinued operations and disposal of subsidiaries
earlier today kurzweil reported a 1986 loss of 85 cts a share compared to a 1985 loss of 121 dlrs a share
a review of south africas economy by the technical committees economic sub committee was to be held in february while the talks for the rescheduling were due to start some time this month or next month
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
it said the kwik save purchase will also be financed with a loan from the hongkong and shanghai banking corp hkbhhk it did not give the size of the loan but it said it would raise its net bank borrowings to a maximum of 22 billion hk dlrs
it said 75 pct of early rice fields are ready to be planted and seedlings have already been transplanted on 90 pct of rice fields in hainan island
she said exceptions would also be granted in cases where a swedish trade boycott would benefit south african firms and disadvantage south africas black ruled neighbours the front line states
the bundesbank did not inject liquidity via a securities repurchase agreement this week but countered a tightening in rates on monday by injecting funds through government owned banks
the paper will be sold in denominations of 500000 dlrs and have maturities of seven to 364 days
8 pct bonds due july 1 1990 at a price of 10030 pct todmpbw about 789 pct to maturity 8 1 4 pct bonds due march 1 1994 at a price of 10025 pct to yield about 820 pct to maturity
in addition to a tire manufacturing plant condere bought s
the banks target range for growth in this measure in 1987 is 65 to 95 pct compared with 114 pct last year
utilities output rose 07 pct in february after a 12 pct rise in january
of jamaicas foreign debt of 33 billion dlrs only 12 pct is owed to commercial banks and seaga yesterday reaffirmed the governments policy of not seeking new bank loans
gencorp earlier this month reached an agreement with walt disney co to sell its los angeles television station whj tv
oper shr profit 17 cts vs profit 10 cts oper net profit 5146000 vs profit 2691000 revs 2695 mln vs 2744 mln avg shrs 205 mln vs 170 mln nine mths oper shr profit 14 cts vs loss 45 cts oper net profit 4131000 vs loss 7148000 revs 8028 mln vs 7660 mln avg shrs 204 mln vs 169 mln note net excludes discontinued operations loss 1667000 dlrs vs profit 42000 dlrs in quarter and loss 2123000 dlrs vs profit 1334000 dlrs in nine mths
the spokesman was responding to an enquiry about an item in the london standard newspaper which said goldman sachs is feared to be the victim of a new multi million pound city scandal the newspaper also said the firm goldman sachs is believed to be the paying agent for some 900 bonds issued in the name of oil giant exxon which were deposited at banks in brussels and have now been found to be forgeries the spokesman said that the bonds were delivered to the firm by a man working on behalf of a third party
tonka said that while the pace of order writing is trailing last years bookings are very good for orders on several of its new product introductions for 1987
chartered bank general loans outstanding fell 584 mln dlrs to 12758 billion dlrs
analysts said computer associates paid a premium for uccel
mcdonalds corp said it is offering to buy the 25 mln dlrs in its outstanding 10 7 8 pct debentures due july 15 2015
an attorney for ammeen who is named as a defendant asked the court to dismiss the lawsuit against his client
uk growing impatient with japan thatcher
second round bidding began at the end of 1984 and only one well has so far produced results lufeng 13 1 1 250 km south east of shenzhen with an output of 6770 barrels a day
the chapter 11 filing means that texaco will not be paying interest on its eurobonds
penney chairman william howell said store sales were strongest during the early part of the month while catalog demand was consistently strong throughout the period
there wont be much specific improvement in coming months
london international raise profits by 305 mln
the new cds with maturities of six months one year and two years carry interest rates ranging from 407 to 512 pct a bank spokesman told 
rapitech systems inc rpsyo 3rd qtr loss
burns fry chairman jack lawrence told the newspaper the investment dealer has not made a final decision but was examining three or four alternatives discussions between brokers about possible mergers is to be expected pending industry deregulation one investment industry source who asked not to be named told 
total 1986 87 crude steel production is estimated at 2557 mln tonnes down from 2798 mln a year earlier
talyzin said the 1988 soviet plan stressed the engineering industry which kremlin leader mikhail gorbachev has described as a sector where rapid modernisation is essential if the soviet union is to compete effectively on world markets
exco recently purchased an 80 pct interest in rmj securities inc one of the four major brokers in us government bonds which has offices in london new york and tokyo
deposits by non banks rose more than 40 pct to a total of 11 billion
however equity accounting of associates profits reduced the loss to 24 mln dlrs against a 37 mln profit in 1985
he said that although friendly countries were still prepared to assist sri lanka with concessional aid colombo would have to surmount many problems in detailed negotiations due in may june and august before these loans are finalised
asian dollar market assets fall in january
dynamics said the cts board will be reduced to seven members for eight with the remaining four members of the current board and three representatives of dynamics as new directors
they noted lawson had already got an inflation reducing cut in mortgage rates in response to lower base rates so domestic political reasons for lower rates have been curtailed
deforestation would wipe out the chance of further discoveries and force major corporations to research develop and produce man made substitutes at a cost which scientists say is incalculable
funaro said the commercial banks agreed on brazils need for economic growth and added that creditors were aware that brazil cannot continue to export the 24 billion dlrs in net capital that it transferred over the past three years
poehl was born in 1929 and worked as a financial journalist in the 1960s before starting his ministerial career
crazy eddie also that it requested that the shareholder group make a commitment not to take the company private until crazy eddie has had a chance to recover from current financial difficulties a committment that the group rejected
securities issued by foreign banks would attract a weighting of 50 pct while authorities are considering requiring banks to include 100 pct of the value of debt assets of foreign issuers including sovereign borrowers
s and p cited the companys proposed offering of two mln units of common stock and warrants which would raise 25 mln to 30 mln dlrs that would be used to retire bank debt
hair said interiors report failed to stress the probability that finding recoverable oil is only 19 pct
shr loss three cts vs loss three cts net loss 78456 vs loss 95812 sales 513607 vs 283043 avg shrs 3106000 vs 2933333
government outlays include mainly deficiency payments and price support loans
another source said that with much of the 1986 87 october september world cocoa crop sold limiting sales in the near term concerns essentially next years harvest
fidata corp fid 4th qtr loss
the european community has also opposed the bills
the itc will continue to operate with a reduced staff after june 30 following the two year extension of the sixth international tin agreement
the company said that 1986 was characterized by an unstable fertlizer market due to the weak dollar and the decline of international prices for products sold in europe and the us where agrimont operates through its conserv division
loynes said the provisions potential benefit would decline gradually over the next four years during which time continental will pay 250 mln to 350 mln dlrs more in taxes
australias crude oil tax strategy is probably best tackled in terms of a targeted rather than broadly based approach federal resources and energy minister gareth evans told a meeting here
the official said ecuador could resume exports after repairing a 40 km section of the 510 km pipeline which links jungle oil fields at lago agrio to balao on the pacific coast
she said short term bank lending rates fell to an annualised 1388 pct at the end of december from 1458 pct a month earlier and 1982 pct at the end of december 1985
us officials believe that would help take some of the pressure off the united states whose five years of economic growth has been the mainstay of developing countries
yeutter said american exporters will find it far easier to deal with one standardized worldwide system than the variety of differing systems which they now face he said the new system ended 12 years of multinational negotiations to create the unified tariff schedule
s and p cited coastals success in reducing debt and preferred stock by 390 mln dlrs last year despite weak energy prices
revenues in the quarter fell to 5211 mln dlrs from 7169 mln and in the year fell to 19 billion dlrs from 25 billion in 1985
four congressional panels met today to consider portions of a wideranging trade bill that intends to help us companies sell more products abroad and to fight unfair foreign trade practices
oecd trade growth seen slowing in 1987
the proposed transaction is subject to completion of a due diligence investigation including a review by bristol myers of a patent infringement suit served on sci med by advanced cardiovascular systems inc on march 31 1987
group shr 491 yen vs 659 net 772 billion vs 1038 billion current 1681 billion vs 2084 billion operating 4556 billion vs 5202 billion sales 73450 billion vs 99615 billion note company forecast for current year is group net 14 billion current 30 billion and sales 740 billion based on rationalisation efforts and expected market price increases in agricultural chemicals and petrochemical products following the recovery in world oil prices
reichhold said it is seeking the sale to focus on its adhesives business
eurofima launching 40 mln swiss franc notes
the bond is available in denominations of one mln yen and will be listed in luxembourg
both us and japanese officials have said there was little likelihood the talks would do anything to avert the 100 pct duties on 300 mln dlrs worth of japanese shipments
azuma steels current losses are estimated at 31 billion yen in the year ending march 31 against a 699 billion loss a year earlier a spokesman said
wall street stocks tenneco inc tgt 
it also said that it was envisaged that monthly releases would be at least 100000 tonnes depending on the state of the market
the total of all crude refined product and spr stocks were unchanged at 15751 mln barrels it said
italy is the largest net beneficiary in 1987 getting 635 mln ecus with britain in second place with 580 mln
gold holdings were unchanged at 21846 billion francs
restructuring efforts should improve productivity but not in the forseeable future the agency added
the united states has been able to live on borrowed time
us military leader predicts iranian response
sale of the newport news system was completed in december
owing foreigners 109 billion dlrs brazil called an indefinite interest payments moratorium on 68 billion dlrs of commercial bank debt
iran the united arab emirates and kuwait are also cheating on the opec agreement with over production and effective price discounts through counter purchases industry sources said
he said the merger lost a lot of its appeal when the us department of justice required that baker sell off its reed tool co operation
acting mayor roel den dunnen said that cooperation between private and public entities in the tokyo and rotterdam area and a fruitful exchange of information have a favourable influence on the flow of goods and services between the two countries
japans unadjusted consumer price index base 1985 fell 04 pct to 997 in january from the previous month the governments management and coodination agency said
private sources also said argentinas exports would not be affected by brazils decision which agriculture minister iris resende announced yesterday in sao paulo
total exports for the month fell 209 pct to 2061 billion dlrs from 2606 billion in january
terms of the debenture have not been established
1986 net includes tax credit 1022000 dlrs
manufacturing industrys production fell 1 1 2 pct in january february compared with november december
the resolution could be about any gulf related issue including an expression of support or of disapproval for reagans policy of protecting 11 kuwaiti tankers from iran in the waterway
as reported separately soon after announcing the delhi sale csr launched a takeover bid for the 6826 pct of pioneer sugar mills ltd that it does not already hold valuing its entire issued capital at 2196 mln dlrs
moscows trade surplus with east bloc countries continued to grow in 1986
officials at purolator could not immediately be reached for comment on the offer which was released several hours after the stock market had closed
on the us west coast netback values for ans cif la also jumped sharply up 40 cts a barrel or 22 pct to 1882 dlrs on higher gasoline prices
browns debt ratio increased to 498 pct by year end 1986 as higher inventories and a four year stock repurchase program has required additional financing s and p said
elsewhere in his speech baker outlined the progress industrial nations are making in promoting moderate global growth low inflation and efforts to reduce massive trade imbalances
hapag lloyd ag said it ordered a new container vessel from china for its australia service
the news agency said amoco plans to drill a second well in the area this year but gave no further details
he emphasised that the megabank was not an administration plan but something some people have suggested other us officials said japanese commercial banks are examining the creation of a consortium bank to assume third world debt
total fees of 1 7 8 pct comprise 5 8 pct for management and underwriting and 1 1 4 pct for selling
1985 also excludes extraordinary gain equal to 34 cts shr
the reserve bank said it has cancelled the regular weekly treasury bill tender scheduled for march 17
nusource investments inc a publicly held shell company said it acquired american nutrition works inc through a transaction in which american nutrition shareholders received 28 mln shares of nusource stock in exchange for their shares
but proceeds from asset sales would probably pay down debt the agency noted
foreign official assets in the united states increased 800 mln dlrs between october and december after rising 154 billion dlrs in the third quarter
the sources said the new program could be announced by the end of the month and calls basically for preservation of the countrys growth
the company said that magnum abs resins for pipe extension will increase three cts a pound effective april 9 as previously reported
in order to stimulate domestic demand and boost the economy tax reforms aimed at bringing down the cost of land and reforming the nations housing stock are needed along with steps to bring down the high cost of commodities he said
rio tinto zinc corp plc rtzll rtz said the predicted rise in industrial production in the us and europe should boost its 1987 performance
currently all periods are traded at 512 to 525 pct in the money market
s and p cited the completion of the firms merger with pnc financial corp pncf saying pnc has shown solid earnings excellent liquidity and a conservative capital position
the indicator base 1980 which shows trends in the economy 12 months ahead was put at 1087 in february compared with 1027 in january and 995 in february 1986
a proposal to require imported tropical oils to be labeled as saturated fats suffered a narrow and possibly debilitating defeat in the us senate
mitsubishi said the loan was believed to be the first the borrower has raised in yen
shr 21 cts vs 20 cts net 596000 vs 594000 revs 8693000 vs 8164000 nine mths shr 61 cts vs 58 cts net 1784000 vs 1653000 revs 263 mln vs 230 mln
one effect of this would be reduced atmospheric pollution
ny tankers april 9 tennaco took nicopolis part cargo 50000 tons dirty april 12 caribbean to us gulf worldscale 130 exxon took brazil glory 77000 tons dirty april 17 east coast mexico to us atlantic coast worldscale 75 champlin took tamba maru part cargo 57000 tons crude april 18 caribbean to us gulf worldscale 105 pecten took world cliff part cargo 74500 tons dirty april 14 sullom voe to us atlantic coast us gulf worldscale 70 for atlantic coast worldscale 675 for gulf crown petroleum took british skill gotco relet part cargo 100000 tons dirty april 18 west africa to us gulf worldscale 63 oroleum took marika p
the finance ministry has asked commercial banks to moderate their dollar sales jiji news agency reported quoting financial sources
i dont know how the report was originated i cannot comment the spokesman at jardines london office said when asked to react to a report in the daily telegraph newspaper
ongpin said manila would have to repay about 200 mln dlrs a year when amortisations on the 925 mln dlr loan came up
shr 10 cts vs seven cts net 1541000 vs 1056000 revs 201 mln vs 170 mln 1st half shr 19 cts vs 11 cts net 2945000 vs 1742000 revs 382 mln vs 352 mln
southern said new rules of the financial accounting standards board which are effective in january 1988 require any costs that are determined nonrecoverable to be charged against earnings once that determination is made
the issue which remains open until october 28 was fully underwritten last week when the issue price was set
president hossain mohammad ershad has said non payers are crippling the industrial sector
the report published today by the economic monthly the peru report said the success of president alan garcias government in stimulating output last year to achieve a growth in gross domestic product of over eight pct represents gains in the short term at the expense of the long government officials had no immediate comment on the report which advised a reduction in the overall size of the public investment program and greater emphasis on the preservation of perus export potential
the company the second largest natural gas producer in texas said it has gas reserves of 12 trillion cubic feet and over 1000 miles of pipeline and gas gathering lines
doskocil cos inc said its shareholders approved a one for 10 reverse stock split which is expected to become effective by april 30
in march alone prices rose 01 pct after a 03 pct rise in february
first bancorp troy nc initial offering of 400000 shares of common stock at an estimated 17 19 dlrs a share through interstate securities corp
van der vorm said however the unions demands on a range of issues were far in excess of the managements final offer
the company said it is also in the process of reducing its office space in four of its six offices nationwide
the spokeswoman said there were reports of domestic supply problems in the united states
via sole manager drexel holiday inns is selling 900 mln dlrs of senior notes due 1994 with a 10 1 2 pct coupon and par pricing
italian gdp rose 24 pct in 1986 fourth quarter
topps co inc said it has filed for an initial public offering of 4500000 common shares including 3500000 shares to be sold by shareholders
national gypsum co a unit of aancor holdings inc said it is offering 300 mln dlrs of priority senior subordinated notes due 1997 with an 11 3 8 pct coupon and par pricing
hudsons bay co year oper shr profit 32 cts vs loss 123 dlrs
the economy has developed a certain self confidence that is now less dependent on the political situation said fritz haser economics professor at universidade livre lisbon
in its action standard and poors cited the exposure to major latin american debtor countries of chase manhattan corp cmb chemical new york corp chl irving bank corp v and manufacturers hanover corp mhc the rating agency also downgraded mellon financial corp mel and security pacific corp spc but said this reflected higher non performing assets and weaker operating results rather than the international debt problem
king fahd reiterated yesterday in an interview with and the television news agency visnews the saudi commitment to opecs december pact to boost oil prices to an average 18 dlrs
uk lenders offer more fixed rate mortgages
toshiba said exports of t1100 and t3100 lap top computers would continue at 5000 units a month for the time being
bangladesh floated an international tender for the purchase of 10000 tonnes of refined soyabean oil for delivery at chittagong chalna port by april 24 food ministry officials said
british and commonwealth shipping co plc bcoml said that it would reorganise its commercial and service operations into a single public grouping with autonomous management
weve tried to take a bullish approach to the pound and were going to stay with that theres no reason to change smith barney analyst craig sloane said
closing of the merger would occur immediately after the filing it said
iraqs oil minister qassem ahmed taqi has been moved to the heavy industries ministry the official iraqi news agcny ina said tonight
britains visible trade deficit narrowed to a seasonally adjusted provisional 224 mln stg in february from 527 mln in january the trade and industry department said
reagan says us allies must honor accords on exchange rate stability
to raise cash in the near term first city said it may sell or mortgage non strategic assets recover excess contributions to its pension plan and obtain special dividends from some of its member banks
no employment contracts exists with the other executives the company said
it said residual fuel stocks fell 250000 barrels to 3573 mln from 3598 mln barrels
society for savings said it will offer up to 100 mln dlrs aggregate principal amount of its medium term notes with maturities from one year up to five years from the date of issue
shr loss 102 dlrs vs 101 dlr net loss 181 mln vs 114 mln revs 960 mln vs 903 mln year shr loss 265 dlrs vs loss 306 dlrs net loss 393 mln vs 346 mln revs 3860 mln vs 3730 mln note1986 4th qtr year loss includes 144 mln dlrs 46 mln dlrs respectively from discontinued
csr sells oil gas interests bids to extend sugar
gzb increases bond issue to 18 billion schillings
terms of the acquisition were not disclosed
viragen vrgn starts human trials
oct nov midmississippi dubuque south l h nov clinton south 170 pct bid 177 1 2 offered no comparison
the debts due in 1986 are being treated as arrears and will be rescheduled over six years with 2 1 2 years grace while the rest of the debt will be rescheduled over 10 years with a 5 1 2 year grace period
hata added it is not constructive to speed up negotiations in some areas at the expense of others
brown and sons inc
cable shares at 1350 gmt were quoted at 375p compared with a close last night at 364p
the syndicated loan which is unsecured carries a commitment fee of 010 pct per year
output is running well below the record 86 mln produced in 1970
the grant will finance the basic engineering for the smelter complex to be undertaken by britains davy mckee of stockton
final terms on the non callable bond will be fixed on march 12
comfed mortgage co inc initial public offering of 27 mln shares of common stock at an estimated nine to 13 dlrs a share through painewebber inc and bear stearns and co inc
balance sheet total increased by 228 mln marks to 284 billion
total m2 rose 20 pct to 54571 billion dlrs in february from january when it increased by 33 pct
pay n pak gave no details about the buyout group but did say the offer was contingent on financing and on an agrreement regarding managements equity participation
the selling concession is 1 1 4 pct while management pays 1 4 pct and underwriting pays 3 8 pct
fundamental said it intends to use the facilities formerly used by mki to provide a new block brokering service in the most active treasury issues
the chamber estimated the us strategic stockpile held 180444 tonnes of tin in december 1986 137744 tonnes in excess of of its original stockpile goal of 42700
he said they were turning their backs on core commodity chemical businesses
the issue was increased from an initial offering of 40 mln dlrs because of investor demand for high yield securities
the companies said they had bought their 49 pct stake in ultramar for a total of 50 mln nz dlrs through a joint venture company formed for that purpose in october
the reforms tighten the rules for the use of foreign aid to subsidise export credits in so called mixed credits the oecd said
noranda said if it decides to keep the mine open it would take four or five months before it could resume full production
france repays some of currency intervention debt
prior to that date the partnership said it expects to form a liquidating trust to provide for unresolved claims and liablities
however dub said the offering sold out quickly anyway
shr 30 cts vs 12 cts net 2191000 vs 852000 sales 1066 mln vs 1029 mln nine mths shr 44 cts vs 40 cts net 3236000 vs 2919000 sales 2979 mln vs 2979 mln
moscow supports free gulf navigation envoy says
inter tel inc intlao 2nd qtr may 31 net
us commercial paper falls 127 billion dlrs in feb 25 week fed says
senate wants japan semiconducter pact enforced
thats bad for competition and bad for the consumer he said
qtly dividend 12 1 2 cts vs 12 1 2 cts pay march 31 record march 16
some estimated the maple leafs west german market share at 60 pct
nui nui may spin off nonutility operations
encor will use proceeds from the debenture offer to retire bank debt incurred in the aberford deal it said
soviet data show the machine building industry which makes machine tools instruments and other engineering goods increased output by 33 pct in the first nine months of 1987 compared with the same period last year
clearly in the case of land reform the question of land transfer by definition is transferring assets from the landed to the landless arrivillaga said
ciba geigy was 188 pct of spectra physics and reliance group holdings rel which is controlled by new york investor saul steinberg controls 128 pct
galaxy gtv to sell west texas assets
cooper basin natural gas reserves upgraded
it said the liu hua 11 1 1 a well produced at around 2240 barrels per day at a depth of 305 metres
kodak ek to cut polyester fiber operations
central showed pretax profits up by 57 pct to 188 mln stg for the year ended 30 september 1986
hawkeye hwkb 1986 annual report qualified
nevertheless the court order could cause significant personnel problems including the possible delay of wage increases delta had planned to give the western personnel on april 1 ronald allen deltas president said
shr nil vs nil net 130998 vs 30732 revs 1568941 vs 10053234
it said the commission is currently allowing the company to recover 40 pct of the cost of owning and operating the plants
i think the stock market has decided that the bank lending figure is a thing of the past we are talking about a very serious panic and a flight to quality spencer said
february fob exports rose to 282 billion dlrs from a revised 274 billion in january
san juan basin royalty sjt hikes distribution
shr profit 29 cts vs loss six cts net profit 645000 vs loss 118000 sales 7802000 vs 4330000 1st half shr profit 58 cts vs profit 10 cts net profit 1255000 vs profit 212000 sales 145 mln vs 8912000 avg shrs 2183150 vs 2072779
fed expected to take no money market action
k mart corp raises dividend 176 pct votes three for two stock split
the groups orders in hand amounted to 91 billion marks at end december 1986 from 103 billion at the start of the year
dominion has denim manufacturing plants in georgia which would reduce competition in the denim market the lawyers said
bangemann referred specifically to subsidies in the steel industry which he said had to be fought with all legal means when they did not correspond to european community guidelines on grants
continental is europes second largest tire producer
the divisions manufacture and distribute greb hush puppies kodiak and santana brand shoes and had revenues of about 69 mln dlrs last year warrington said
in addition analysts said the hazardous waste management business holds significant growth potential
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
coopervision inc said it is preparing a recapitalization plan which includes a common stock repurchase program and an exchange of debt securities for common stock
montrose holding to acquire virginia federal
shr loss two cts vs profit three cts net loss 59299 vs profit 88843 revs 3487693 vs 2123488 year shr profit 25 cts vs loss two cts net profit 816395 vs loss 44541 revs 122 mln vs 7413328 avg shrs 3208472 vs 2348559
total fees of two pct comprise 1 4 pct for management 3 8 pct for underwriting and 1 3 8 pct for selling
the sales leave the tisch brothers with 135000 shares of preferred stock which can be converted into 1499985 shares of common stock
economist calls brazil debt request modest
it will urge the major seven groups to merge into five to build up their muscles a source said
ore production totaled 650653 tons last year it said estimating year end reserves contained about 627000 ounces of gold and 265 mln pounds of copper
the non callable bond is guaranteed by australia and will be listed in luxembourg
those few who have denied their responsibility have turned their backs on this remarkable effort of international cooperation on the financial system and on their enlightened colleagues petricioli said
this marks our first major expansion in california particularly in the south said citicorp savings president edward valencia in a statement
mitis call to japanese chip makers last month to cut production of key memory chips in the first quarter of this year has begun to dry up the source of cheap chips for sale in the non regulated grey market honda said
claims on the imf rose 114 billion francs to 1897 billion including a 385 mln franc increase in frances reserve position with the imf and a 751 mln franc rise in holdings of special drawing rights
the price increase follows similar moves by several other companies
manhattan national corp said its shareholders overwhelmingly approved a proprosal through which union central life insurance co took control of the company by acquiring about 36 mln shares of newly issued manhattan national common stock for 432 mln dlrs
university genetics co ugeno 3rd qtr loss
another 409 mln is available immediately following an export shortfall for jamaica in the year ended september 1986 due to reduced income from bauxite alumina and tourism the imf said
shr 108 dlrs vs 100 dlr net 6215538 vs 5757013
real estate magnate donald trump told ual inc chairman richard ferris that he was interested in ual stock as an investment according to a ual executive
ecuador to export no oil for four months official
mobil corp made a 15 pct reduction in its long term debt in 1986 from the previous year according to data in its 1986 annual report
the central bank has been keeping extremely careful watch on exchange rate movements since last week he said
they had predicted earlier that crushers april shipment us bean purchases would drop to 260000 to 270000 from the monthly average of 300000 to 330000 tonnes due to low soybean meal prices
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
de los angeles who represents smcs minority stockholders asked the sec to block the transaction approved last week by the companys board
pakistani government allowed freer cotton and rice export in a three year new trade policy aimed at narrowing the countrys yawning trade gap
general manager liu shuxun declined to give a 1987 profit forecast saying targets were under study
these chances seem to me to rest critically on the expectation that the current configuration of interest rates and the monetary policies behind them will assure smooth financing of current account imbalances in the months ahead gleske said past experience of currency adjustments had learned that markets are inclined to be impatient and will thus tend to overshoot he said this would seem to be unnecessary and should be avoided if at all possible monetary policies can help achieve this but only if markets believe that pledged changes in fiscal policies will lead to balanced international payments he said
montedison finance overseas ltd a unit of montedison spa is issuing a 50 mln australian dlr eurobond due april 3 1990 paying 15 1 2 pct and priced at 101 3 8 pct lead manager orion royal bank ltd said
the cash market is strong and may overshadow the report said robin fuller analyst for agri analysis
despite rising petroleum prices and falling coffee prices kenyas economy is still expected to improve in 1987 the planning minister said
revlon group agrees to merge with macandrews and forbes group for 2010 dlrs shr cash
avon said it identified giorgio more than a year ago as a preferred acquisition candidate
in addition the ussr has made it clear it would consider buying us wheat if it were priced more competitively
bullish predictions on the uk s general economic health were also expected to boost foreign interest in eurosterling
the legal action now before swiss courts threatens to trigger cross defaults on all of domes debt toppling the delicate debt negotiations
noranda inc said 1100 unionized workers at its 63 pct owned brunswick mining and smelter corp lead zinc mine in new brunswick would start voting monday on a tentative contract pact
van dorn co vdc sets quarterly
but with unemployment nearing 11 per cent last month and still rising government supporters and some economic analysts said they were confident chirac could resist union pay demands
sri lanka and imf agree on economic reforms
it called the filing part of the companys regularly scheduled funding activities first interstate said the filing brings to 545 billion dlrs the total amount of debt securities covered under this and eight earlier shelf registrations
bond international a subsidiary of the australia based bond corp holdings ltd bonas will receive net profits of about 16 mln dlrs from the deal
this was done because foreign banks felt the xibs reputation would be improved if the three chinese partners collectively held a majority stake he said
hanson trust han sells unit
the threshold of profitability has returned to the foreseeable future he said
it also said top managements incentive shares were to be accelerated and paid for at a cost of six mln dlrs although there are restrictions on the shares unless waived by the companys compensation committee
its gabelli and co subsidiary is a brokerage firm
us officials however have said their monitoring of japanese semiconductor shipments to east asian countries and western europe showed no letup in the dumping and that the japanese home markets remained shut to american exports
capital formation strengthened in february and slowed money supply growth to a larger extent than in january
ubs unit issues 15 billion yen eurobond
a stable yen would also help exporters regain some of their competitive edge just as the us economy may be starting to recover economists said
if the charges are true we are disappointed and angry merrill lynch said in a statement
on december 31 1986 exxons total debt of 787 billion dlrs was down slightly from the previous years 79 billion dlrs and long term debt stood at 43 billion dlrs down from 48 billion dlrs in 1985
chemicals and plastics had fourth quarter operating profit of 122 mln dlrs compared to a year ago loss of 49 mln dlrs
metropolitan consolidated industries inc said it will make a tender offer for all or any of the outstanding shares of common stock of metex corp mtx not currently held by or under option to metropolitan for 775 dlrs per share
feb 28 end shr 18 cts vs 13 cts net 1541000 vs 1122000 sales 367 mln vs 335 mln avg shrs 8517000 vs 8441000 note share adjusted for five pct stock dividend in august 1986
the veba share has been weaker ahead of the placement but west german stocks have been generally bearish and news of the vw scandal last week put further pressure on the market
finance minister gerhard stoltenberg said he was surprised by recent criticism of west german economic policies voiced by us treasury secretary james baker but added that the criticism was not purely one sided
given virtual zero inflation in west germany such fears may seem exaggerated they said
oper shr eight cts vs eight cts oper net 5219000 vs 4377000 revs 2149 mln vs 1825 mln nine mths oper shr 51 cts vs 51 cts oper net 296 mln vs 279 mln revs 6345 mln vs 5693 mln 1986 net excludes extraordinary gain of 8031000 dlrs or 15 cts shr
it has been observed that due to restrictions on imports specially on raw materials and intermediate goods local industry has been suffering for want of necessary inputs he said
in the 1986 calendar year gnp rose 25 pct after a 47 pct increase in 1985
talyzin said the kremlin also decided to increase spending next year on medical services education pensions and social insurance schemes
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
sec removes obstacle to foreign futures trading
another incentive to sell might be trade anticipation of a reduction in the us government soybean loan rate offered to farmers who give crops as collateral eshleman said
but therefore japanese goods may keep their price competitive edge said azusa hayashi director of the first international economic affairs division of the foreign ministry
shr loss 349 dlrs vs loss 15 cts net loss 108 mln vs loss 459000 revs 4384000 vs 2542000 year shr loss 441 dlrs vs loss seven cts net loss 137 mln vs loss 218000 revs 139 mln vs 8864000 note net losses included extraordinary losses of 4904000 in 4th qtr vs 232000 year ago and extraordinary losses for year of 2056000 vs 460000 a year ago
australias terms of trade also fell by 18 pct over the past two years he told parliament
carney later told the canadian guidelines are basically compatible with the seven point australian proposals announced in davos switzerland in january
society savings socso forms holding company
shr loss 72 cts vs loss 157 dlr net loss 1526359 vs loss 3315834 revs 8032798 vs 7276517
nashua corp said it signed a letter of intent to purchase lin data corp a private manufacturer of high capacity rigid discs for storage of computer data
he did not say if the meeting would continue beyond friday
the government faced with mounting social unrest against its economic policies has called the miners strike and fasts part of a campaign aimed at discrediting it during the visit of west german president richard von weizsaecker who began a four day visit last friday
it cited tax reform weaker performance by the utilitys securities investment program and initial losses for non utility business
phil crane an illinois republican and staunch free trader said he will try to further weaken the gephardt plan
in the first four months of this year the current account swung to a surplus of 25 billion dlrs from a deficit of 294 mln dlrs in the same 1986 period
a new steel quota system that would strictly limit european community ec support to the industry could be forced on producers if they fail to find their own solution quickly officials said
redstone also said viacom is committed to working very closely with us to obtain approvals viacom has been seeking approvals for transfer of its broadcast licenses and cable systems since september when its management group first advanced a buyout plan
usa network is an advertiser supported entertainment basic cable network reaching 39 mln homes on 8500 cable systems
florida oranges excluding temples 122900000 boxes vs 124000000 last month and 119000000 boxes in 1985 86
in recent years us markets have absorbed the exports of developing country allowing them to earn critical foreign exchange
marions stock gained 3 1 4 to 75 1 2
the debentures will be convertible into noranda common shares until april 29 2007 at 35 dlrs per share
atco ltd said its atco development unit agreed to sell the canadian utilities center in edmonton alberta and the canadian western center in calgary
by late february the market had recovered considerably but dai ichi kangyo bank and morgan guaranty trust co of new york launched their issues and pushed the market down again
the company also said it incorporated its packet products division as of april one
reducing the federal government budget deficit by expenditure restraint is needed to preserve the low marginal tax rates achieved by tax reform he said adding that a vote to increase to government expenditures is a vote against tax reform sprinkel said the fall of the dollar had substantially restored us cost competitiveness and that the deterioration of the us trade balance appeared to have abated
us bond yields have been rising since may on inflationary fears and in early september the fed raised the discount rate to 600 pct from 550
paradyne corp said it pleaded guilty to criminal charges of conspiracy to defraud the social security administration and agreed to pay 12 mln dlrs in fines and costs to the us government
the officials said it might be several days before reagan would act and his moves made public
kuwait seen wanting to lease some us tankers
banks received more liquidity through routine month end payments by public authorities as well as expansionary market factors than was lost through the 23 billion mark rise in cash in circulation to 1223 billion the bundesbank said
liquidity among private households and especially the corporate sector has increased substantially he said
sunstar foods inc sunf 2nd qtr feb 28 net
johnson and johnson said the us food and drug administration has notified the company its food additive petition for a high intensity sweetener has been formally accepted and now will be reviewed by the agency
qtly div 10 1 2 cts vs 10 1 2 cts prior pay july one record june 10
six ships are loading 120000 tonnes of wheat the sources said
consolidated debt 543 billion francs vs 619 billion
la petite academy inc lpaio 3rd qtr net
india foodgrain target 160 mln tonnes in 1987 88
ascs seeks offers to process ccc rough rice
datron systems inc said it expects to report a falloff in earnings for the year ended march 31 of about 25 pct from fiscal 1986 levels
the strikers returned to work after an agreement was reached last night between port authorities and the port workers association they said without giving details
stars to go star gets stores agreement
the largest us textile maker focused on its own business as its competitors found merger partners but now burlington industries inc may have restructured itself into an attractive takeover candidate analysts said
it is in a soft market now but we are not concerned
dutch seasonally adjusted industrial production fell by 64 pct in april compared with the previous month and was 55 pct down on the same period last year figures from the official statistics bureau cbs show
in a filing with the securities and exchange commission lloyds said it bought the additional 294500 italy fund common shares since november 7 for a total of 33 mln dlrs
the 1985 farm bill provides authority for the agriculture secretary to implement a marketing loan for soybeans but usda so far has resisted pressure to use the authority
she said the bond share was lifted from 35 pct in the last three months
sterling money market rates moved lower again with the key three month interbank rate down to 9 5 8 1 2 pct at the start of business from 9 11 16 9 16 yesterday and sterling rallied to four year highs against the dollar in very active trading
investment bankers said the next floating rate issue of new zealand or australian dollar denominated debt is probably a few weeks away
said david gluskin vice president of nesbitt thomson bongard inc when interest rates finally seem to have stopped going down there is going to be a flood of people trying to lock in the long end and not everyone will be able to get in the door but bonds analysts said at the moment with interest rates trending down investors appear to welcome the change especially the greater treasury bill financing
it is to feature alongside the financial services act aimed to bolster investor protection and the building societies act which put these institutions on an equal footing with banks
west german officials are likely to emphasise at the venice summit that domestic demand which draws in goods from abroad is already outstripping export performance which has suffered from an 80 pct rise of the mark against the dollar in just over two years
an underwriting group will be led by morgan stanley and co inc
trump who was unavailable for comment is believed by market sources to have a sizeable position in ual which he began accumulating several weeks ago
morgan grenfells bell forecast a half point base rate cut from the current nine pct level soon after the election so long as poll projections of another conservative victory prove accurate with another half point later
avx corp avx files for debenture offering
pay date is april 24 with a short first coupon
shr loss 141 dlrs vs profit 27 cts net loss 8225052 vs profit 1566936 revs 4028231 vs 6725462 note 1986 shr and net after 6606646 dlr writedown on property and other assets
but the japanese remain doubtful about the short or even medium term prospects of totally transforming their economic habits
corn imports in 1985 86 are estimated at 1040 mln tonnes vs 1040 mln last month
shr 328 dlrs vs 22 cts shr diluted 299 dlrs vs 22 cts net 460 mln vs 3328000 avg shrs 140 mln vs 152 mln year shr 541 dlrs vs 156 dlrs shr diluted 494 dlrs vs 150 dlrs net 782 mln vs 259 mln avg shrs 145 mln vs 151 mln note earnings per share reflect the two for one split effective january 6 1987
the outlook for the dollar is still up in the air he said
gerber scientific inc said its gst acquisition corp purchased 444646 shares of its 84 pct owned gerber systems technology pursuant to a january 15 tender offer
frontier insurance group inc frtr 4th qtr net
harris said its dealings in bell stock are on behalf of its advisory clients
us corn acreage with the exception of 1983 has been in the low to mid 80 mln acre range for the past 10 years
japanese officials have said they have lived up to the pact and have asked japanese chip makers to further slash output to save the pact
leslie said fed actions and reserve data once these pressures abate will show whether or not it is firming policy
sterling in texas gas and oil discovery
but each step brings a unanimity of opinion closer he said
contract terms were not released
scott instruments scti gets qualified audit
ali said the position of the 400000 bpd production from the neutral zone between saudi arabia and kuwait which has been supplied to iraq as war relief crude was fixed
in january broad money growth slowed to 07 pct from decembers 15 pct and compared with nil growth in january 1986
the company earned 119000 dlrs before a 70000 dlr tax credit on sales of 7227000 dlrs in the year ago period
the former chief currency dealer of herstatt bank which collapsed in 1974 on foreign exchange speculation in west germanys biggest banking crash can stand trial for damages a court ruled
proceeds will be used to enhance the growth of north american operations of its transamerica occidental life subsidiary the company said
the deal would mean buying the dublin london nigerian and malaysian breweries because it could only be sold as an integral unit if it was going to be sold at all oreilly said
and unlike the speculators poehl notes the bundesbank dealers usually make a profit
moodys said a highly leveraged capital structure and thin debt protection continues since the april 1986 leveraged buyout
ecuador posts 713 mln dlr 8 mth trade deficit
interest will be based on the annual money market rate tam with a tam reference rate of 810 pct and with a margin of minus 010 pct
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
first boston is offering the notes to the public with a 745 pct coupon and par pricing
the company named shearson lehman brothers inc as manager of the offering
waltham corp wlbko 3rd qtr net
homestead said the two classes of stock emerged as part of its recapitalization plan which also doubled the number of authorized common comprising both classes to 11 mln shares
same store sales declined 32 pct for the quarter and 22 pct for the year
after the acquisition shandwicks us operating income will be comparable to that it earns in the uk rogers estimated that pretax profit in the year to end 1987 would exceed 900000 dlrs
australian sugar areas said receiving some rain
however reagans remarks had only a short lived bullish impact on the gold price which is now stabilising at 40910 60 dlrs dealers said
six month euromarks stayed at midpoint 3 7 8 pct
but we are not happy with the reagan administration he said
bankamerica corp chairman aw clausen said the bank holding company plans to go foward with its one billion dlr debt offering but declined to specify when
multi step previously said it agreed to acquire the remaining 60 pct of tarxien it does not already own
the issue is guaranteed by fuji bank
diamond shamrock corp dia owns 803 pct of diamond shamrock offshore
one said it purchased 150 to 200 mln dlrs in the half hour since the market re opened after its lunchtime closure
the notes will be offered through an underwriting syndicate managed by prudential bache capital funding at an offering price of 100 pct
she said the spread between banks cost of funds and the prime rate is now around 137 basis points compared with a 153 basis point average in 1986
hopes mounted for an agreement on cocoa buffer stock rules at an international cocoa organization icco council meeting which opened here today delegates said
market forecasts centre on a 04 05 pct monthly rise in february and a year on year rate about 40 pct
itea dunkirk 20000 mt bauxite seven days all purposes 10 13 4
shr loss five cts vs loss eight cts net loss 118000 vs loss 87000 sales 1765000 vs 1345000 avg shrs 2370000 vs 1070000
transamerica sells occidental life australia
people buying for example more than five pct of a companys shares should be made to declare their purchase he said
japan buys canadian rapeseed
in contrast to the 10 year ntt and iceland issues a five year six pct bond for hoogovens traded at 9840 75 from its 99 1 2 price thanks mainly to its shorter maturity dealers said
rospatch said diagnostics offer of february 27 is a variation of a previous offer in january the nature of which was not disclosed
the company earlier reported 1986 net profit rose to 2853000 dlrs or 125 dlrs a share from year earlier 1579000 dlrs or 42 cts a share
brazilian central banker francisco gros met bankers last night to begin what us officials predict will be months of extremely tough negotiations
this was the highest positive balance since the question was first asked more than 10 years ago the cbi said
the numbers were a little disappointing but i think we can take mr volcker at his word when he said that nothing had changed said bob bannon of security pacific national bank
south africa will disclose later today new arrangements for its repayment of foreign debt the finance ministry said
durham said copper supplies are lower than they have been for almost 20 years and demand continued to be strong
brazil will not announce any changes to its coffee export policy brazilian coffee institute ibc president jorio dauster said
unless the bank is directed otherwise the firm monetary policy will continue because it is very much in the national interest that it do so he said
ssangyong construction co ltd of south korea has signed a 483 mln us dlr financing package to fund the construction of a hotel and commercial complex in jakarta the agent wardley ltd said
the bills will be issued april 9
borg warner bor examining gaf gaf proposal
rjr nabisco rjr sells sinking fund debentures
dtd enterprises inc said it filed an 8 k report indicating that eagleslair development corp had assumed control of the company under a reorganization plan signed last month
its recommendations are designed as a follow up to maekawas report last year on economic restructuring and are likely to cover such potentially politically explosive areas as agricultural reform and land policy officials said
small and medium bulk propane sales totalled 55000 tonnes in 1986 and the transfer will increase total business of primagaz by about 12 pct equal to 32000 extra customers
harris cuts stake in bell industries bi 
an analyst who asked to remain unidentified discouraged the pickens rumor
ranger said that under the deal it would retain a five pct gross overriding royalty on its stake from blocks east cameron 65 and 82 in the gulf of mexico offshore lousiana
rbd palm olein april 336 may 33750 june 337
new crop corn prices firmed earlier this week on ideas of a large sign up in the program
neither rep
japan asks traders exporters to cut dollar sales
recent us oil demand off 26 pct from year ago
redemption is to be in six equal tranches after two years
net 336 mln vs 111 mln revs 3196 mln vs 2951 mln nine mths net 973 mln vs 300 mln revs 9978 mln vs 8600 mln note company does not report per share earnings as it is a privately owned concern
with this out of the way if it indeed was bought by institutions it paves the way for better value for usair stock later said janney montgomery analyst louis marckesano of twas sale of its stock
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
federal reserve board chairman paul volcker said international policymakers should make improving the stability of exchange rates a major priority
saudi british slashed 1985 profit 91 pct to just 91 mln riyals and 1986 accounts due soon are expected to show another low figure
agents for the sale are wood gundy inc and dominion securities inc
hanover insurance co said its board declared a quarterly dividend of nine cts per share payable may 15 to holders of record april 17
the fed said the application was similar to that of bankers trust to engage in commercial paper placement that was approved last december
qtly div six cts vs six cts prior pay april 17 record april 3
unlike many recent combinations this merger has no acquisition premium associated with it blampied said
further excessive mark ups on securities transactions whether disclosed or not violate the rules of the national association of securities dealers inc and municipal securities rulemaking board it said
but it also led to a severe and steady fall in living standards for zaires 35 mln population fuelling widespread discontent among poorer city dwellers diplomats said
the bond will be priced at 99515 to yield 7585 pct
the competition in this state is tough he said noting citybanks recent purchase of 50 financial service branches from sears roebuck company
talks at the extended special meeting of the international coffee organization ico on the reintroduction of export quotas continued but chances of success were still almost impossible to gauge delegates said
international american home sets acquisition
proceeds will be used for general corporate purposes including possible repayment of bank debt product development and possible acquisitions helen of troy said
the australian sides investment was limited to about 22 mln dlrs but aluvic would have the right to appoint key managers he said
dealers said the worsening trade relations between the us and japan will continue to depress the dollar
around 35 mln acres said to be idled by 0 92
world bank president barber conable said he believed that brazil would come up with a medium term economic plan and that the current debt moritorium would be temporary
bp grangemouth refinery shut hydrocracker damaged
japan today announced another mammoth monthly trade surplus that economists said would be sure to intensify already mounting pressure on the country for action
oper shr nine cts vs 128 cts qtly div 18 cts vs 22 cts prior oper net 951000 vs 1817000 total income 5010000 vs 5575000 nine mths oper shr 39 cts vs 59 cts oper net 4014000 vs 5936000 total income 152 mln vs 167 mln note current year net both periods includes 750000 dslr provision for possible losses
peterson purittan is a contract packager of personal care and household products
standard and poors is expected to rate the certificates aa morgan said
the restrcitions stem from a 1983 order by the ftc settling charges that allieds 1981 acquisition of fisher scientific co reduced competition in three high purity acid markets
yen seen rising after g 7 communique
overall economic growth will vary in the different countries between 1986 and 1988 the oecd semi annual report said
idea said the purchase will add about 32 cts per share to its fiscal 1988 earnings
frn dealers said paper of us and also of canadian banks was seeing some pressure as a result of recent press reports focussing on their exposure to latin american debt
it is too soon to assess the extent of the damage but it is likely that northern west german crops are particularly at risk because of insufficient snow cover it said
the united states said kuwait was discussing plans to lease privately owned us tankers to transport oil through the gulf in addition to putting some of its own vessels under american flags
wheat ria luna 20000 mt norrkoping and djuron ec mexico 1250 dlrs option loading uddevalla at 50 cents less 4000 1500 16 23 3 continental
hughes tool directors reject merger with baker
we believe there has been wise leadership here and the economy is being very well managed conable told reporters at jakarta airport
uk budget sees 1987 gdp growth at three pct
viner and co brokerage said it sold 579600 shares since march 5 leaving it with 157000 shares or 18 pct of the total outstanding
the overall january deficit of 148 billion dlrs will be revised but the february figure will be a final one officials said
they expect the money market shortage to continue around 12 billion guilders this week
completion of the deal is conditional on approval under us hart scott rodino regulations which is expected within 30 days
mim to acquire stake in german copper producer
santa fe southern pacific appeals merger ruling
shr loss 23 cts vs loss 11 cts net loss 1128412 vs loss 548054 sales 9827784 vs 121 mln nine mths shr loss 19 cts vs profit 11 cts net loss 926924 vs profit 527004 sales 323 mln vs 375 mln
the grain sorghum harvest was the least affected by the rains advancing steadily in santa fe and cordoba and starting in la pampa to cover 14 to 16 pct of the total area sown
hi net they added will continue to provide programming to holidays hotels
the sale is effective from tomorrow they said in a joint statement
the administrations interagency trade policy review group comprised of subcabinet level officials has not been asked to clear a request to offer moscow wheat under the eep officials at the us trade representatives office said
while exports in february fell a half pct against the same month last year imports fell 10 1 2 pct largely due to the drop in prices
narragansett is an investment management company specializing in leveraged buyout transactions
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
keycorp key sells subordinated capital notes
chock full onuts corp 2nd qtr jan 31 loss new york march 12 oper shr loss 38 cts vs profit 24 cts oper net loss 2243000 vs profit 1192000 revs 436 mln vs 410 mln six mths oper shr loss 35 cts vs profit 28 cts oper net loss 2090000 vs profit 1399000 revs 843 mln vs 729 mln note year ago oper excludes loss from discontinued operations of 1028000 dlrs for qtr and 1076000 dlrs for six mths
estimated profit per share 10 crowns vs 920
at the end of 1986 agip canada reported proven and probable reserves of 42 mln barrels of crude oil and natural gas liquids and 227 billion cubic feet of natural gas
it will choose loans based on ultimate loss rather than their immediate effect on non performing loans
noranda aluminum inc
bankers declined to comment on todays meeting but said the panels response could be crucial to the fate of the talks which are now in their second week
alcan aluminiumwerke gmbh a subsidiary of alcan aluminium ltd aln of canada said it plans to close its aluminium smelter in ludwigshafen at the end of june
americanture aaix buys american adventure
stronger domestic demand growth in the major foreign industrial countries is needed to engender the much needed expansion of us export markets without having to rely on further dollar depreciation he told the futures industry association
the previously announced negotiations began last august the company said
norstar nor to buy callicoon bank
the ministry has decided to lower the eligibility standard for foreign brokers to participate in government note auctions by abolishing a requirement that participants have current accounts with the bank of japan the official said
bc resources has agreement on credit facility
the feds last confirmed intervention was on january 28 when it bought 50 mln dlrs in coordination with the bank of japan
barley season begins june 1
raytheon co 1st qtr shr 137 dlrs vs 119 dlrs
swithenbank has resiged as president and a director and john l
redemption will be in seven equal tranches after the eighth year and payment date is april 6
the yens surge has caused layoffs in the mainstay steel and shipbuilding industries
qtr ends jan 31 shr four cts vs 12 cts net 102508 vs 264910 revs 2278083 vs 2536312 nine mths shr 18 cts vs 15 cts net 489253 vs 404877 revs 6679745 vs 6613551 note excludes discontinued operations gain of 40519 dlrs in the third quarter fiscal 1986 and loss of 9666 dlrs in the nine months fiscal 1986
bangladesh police mounted a cross country hunt for defaulters on bank loans arresting four industrialists and issuing arrest warrants against 50 others for failure to repay overdue obligations
the federal statistics office will today publish trade and current account figures for february a spokeswoman said in reply to queries
the three nations joined by france britain and canada agree these policies are essential to redress huge global trade imbalances
shr profit two cts vs loss 58 cts net profit 182 mln vs loss 239 mln revs 3556 mln vs 3082 mln nine mths shr loss 81 cts vs loss 552 dlrs net profit 107 mln vs loss 2903 mln revs 101 billion vs 9833 mln note net income per share is after deductions for mandatory preferred stock dividends and income from the chemical operations not attributable to common stockholders
addressing the annual meeting of the national grain and feed association tom vongarlem assistant deputy administrator for usdas state and county operations said the following changes are under consideration by usda
net proceeds will be used to repay amounts outstanding under the companys bank credit line and for working capital the company also said
a farm secondary market would allow lenders to sell high quality loans on farmland to poolers who in turn would package the loans and issue farm mortgage backed securities for resale to investors called aggie mae by some supporters
niagara mohawks prime 2 commercial paper was left unchanged
the federal reserve is expected to take no reserve management action in the us government securities market during its usual intervention period economists said
the bank expects dutch capital market rates currently averaging around 61 pct to stop easing in the second half of this year and stabilize around 56 pct
henderson said our pharmaceutical business gets lost in the way that glaxos glaxo holdings plc does not icis pharmaceutical division is the second largest drug maker behind glaxo in the uk last year us drug sales were about 40 pct of its worldwide drug sales of 15 billion dlrs which in turn brought in 27 pct of its total profits
the shipment is part contract signed in february for the saudis to supply brazil with 125000 barrels per day until june
the bank of france intervened on the market to buy dollars and sell yen to support the us currency dealers said
chrysler c deal leaves uncertainty for amc workers
pennzoil co said it had not yet received any meaningful settlement offer from texaco inc but added that the company remained willing to consider proposals to settle the 102 billion dlr jury judgment it won against texaco
federal funds which averaged 606 pct yesterday opened at 6 1 16 pct and remained there in early trading
dixons group plc said it bought about 2445000 cyclops corp common shares boosting its holdings of the companys stock to about 83 pct of those now outstanding and 79 pct on a fully diluted basis
he told a meeting of securities analysts that although the company is not yet at point in its cost cutting drive to improve profit margins it is on the right track olson said atts cash flow was very strong in the first two months of the year better than budgeted while olson does not know if the companys earnings and revenues will improve by yearend he said att is moving in the proper direction for 1986 atts earnings dropped to 139 mln dlrs or five cts a share on revenues of 341 billion dlrs from 156 billion dlrs or 137 dlrs a share on revenues of 344 billion dlrs in 1985
willis faber not selling morgan grenfell stake
at that rate they would have been of little use for a political party expecting to call an election in june
the debentures are convertible into the companys common stock at 4050 dlrs per share representing a premium of 2558 pct over the stock price when terms on the debt were set
thailand exported 689038 tonnes of rice between the beginning of january and february 24 up from 556874 tonnes during the same period last year
rha said it was also due to a shift in exchange rates between the us dollar and the yen that made it cheaper to buy us goods than japanese goods
bastian technologies says it has five pct of cosmo communications may seek control
the new york shipping association and international longshoremens association said they agreed to cut cargo assessments at the port of new york and new jersey by more than 50 pct on some labor intensive cargos
consequently rates in the money market eased during the day one month interbank sterling shedding 5 16 point to 10 9 16 7 16 and three months trading 1 16 point down at 10 5 16 3 16 pct
the main asean tin producers are malaysia indonesia and thailand which produce the bulk of the worlds tin
soviet 1986 87 coarse grain production is estimated at 10330 mln tonnes vs 10330 mln tonnes last month
the wheat is expected to be loaded tomorrow an australian wheat board spokesman said
in quito foreign minister rafael garcia velasco yesterday summoned ambassadors from about 40 countries to whom he issued appeal for emergency aid for the country
overmyer corp omco regular dividend
louis washington dc and san francisco
rabobank issue in heavy demand on amsterdam bourse
galaxy filed chapter 11 bankruptcy on april six
west german fishmeal imports highest in 15 years
argentina has a global foreign debt of 50 billion dlrs
they said some 71070 tonnes of agricultural produce estimated at about 250 mln pesos was lost to the lack of rainfall
asked about the angry reaction of the manila government which promptly said wednesday that it would demand a spread of 13 16 pct gonzalez said this was a matter between the philippines and the banks
such a price would no longer encourage protectionist measures he added
fisher foods fhr says stake in firm sold
the year ago period included a 22 mln dlr charge from a writedown of securities
the bank of japan is continuing to intervene in the tokyo market buying small amounts of dollars to hold the unit above 149 yen brokers said
a treasury department spokesman refused comment on statements by robert ortner undersecretary of economic affairs for the commerce department that the japanese yen was undervalued
the stock of mcdonalds corp rose sharply this morning after analyst daniel lee of drexel burnham lambert inc reiterated his recommendation of the stock traders said
the issue is callable after three years at 104 pct declining by 1 2 pct per annum to par thereafter
western trade sources told taiwan and the us have been holding talks on the currency issue but added it is not clear how far washington wants to see the taiwan dollar rise
capitol bancorp said it has sold its 80 pct interest in cap mortgage co inc for 31 mln dlrs adding this is expected to result in an after tax gain of about 900000 dlrs to be reported in the first quarter
his remarks were concerned with a comprehensive economic stimulative package the government plans to adopt in the coming days
bank of japan governor satoshi sumita said there is little room left for the central bank to further ease its credit policy as interest rates levels are now approaching their lower limit
shr 25 cts vs 23 cts net 670105 vs 599107 revs 214 mln vs 201 mln
several independent studies indicate the 1985 farm bill is better on balance than any of the alternatives being advanced kleckner said
he added however that treasury bond futures could be in for a retracement after the recent rise as they are near the top of the trading range
oii said the new york stock exchange said the securities will be delisted as a result of the merger
uk money market given further 195 mln stg help
but although cutbacks announced by these states were politically significant and welcomed by opec they were insufficient in terms of volume he added
chilis chli files for convertible debentures
that distaste stems in part from fears of recession
in a filing with the icc late today the company outlined four conditions of its offer to acquire southern pacific
a subcommittee is considering what the japanese economy might look like in the medium to longer term after it undergoes massive restructuring officials said
a declining dollar scenario with higher currency futures prior to and throughout the venice meetings would be mitigated only by concrete action as opposed to jawboning at the g 7 summit he said
shr loss 116 dlrs vs loss 61 cts net loss 35 mln vs loss 13 mln revs 943938 dlrs vs 480333 dlrs
eib issues 40 billion yen eurobond
australia feb current account deficit 750 mln dlrs vs jan 123 billion official
qtrly div eight cts vs eight cts prior pay june 1 record may 15
crystal oil co cor 4th qtr loss
cathode use by mills and refiners increased to 255266000 lbs in january from 238821000 lbs in december
it gave no further details and company officials were not immediately available for comment
lord abbett value appreciation fund annual div 33 cts vs 23 cts prior long term capital gain 206 vs 75 cts prior short term capital gain 18 cts vs 11 cts prior pay april 6 record march 12 lord abbett us government securities fund daily div 029 cts vs 029 cts prior pay april 15 record april 15 lord abbett tax free income national series daily 068 cts vs 068 prior pay april 15 record april 15 lord abbett tax free income fund ny series daily 067 cts vs 067 cts prior pay april 15 record april 15 lord abbett tax free income fund texas series daily 059 cts vs 059 cts prior pay april 15 record april 15 lord abbett california tax free income fund daily 062 vs 063 cts prior pay april 15 record april 15
dealers were uncertain of the amount involved and whether the feds purchases were for its own account or for a customer
proposed offerings recently filed with the sec
slow progress in talks between brazil and its major foreign creditors has increased the likelihood that us banks will declare their loans to brazil non performing at the end of the quarter bankers said
it said a portion of the proceeds was used to finance its acquisition of gleason security services inc and gleason plant security inc
however payment will be made on account of the quarterly dividend on the exchangeable preferred shares by the companys trustee from a deposit account bc resources said
mechtron international corp mcht year net
the proposal will give the banks a choice of 5 8ths or the alternative ongpin said
details of fees were not immediately available
the report was presented at a two day investment conference organised by the dbs one of singapores four major banks
us m 1 money supply rises 12 billion dlr
universal furniture ltd said in a filing with the securities and exchange commission that it had increased its stake in bench craft inc common stock to 2548975 shares or 453 pct of the total outstanding
buying by speculators continued to prompt gains in gold and silver futures on the commodity exchange in new york
peres said brazil had enough orange juice to meet the needs of its major clients
subscriptions are to be placed with societe generale oolders en de jong cv or haighton en ruth bv a global note for the issue will be deposited with the dutch central bank
the nzier said the sharp improvement in the june and september quarters was due mainly to a new tax structure and the introduction of a 10 pct value added goods and services tax and is not expected to continue in the second half of 1986 87
he told the official times of zambia newspaper in an interview the government was diverting all mineral exports along rail routes to dar es salaam in tanzania and beira in mozambique
unadjusted figures showed a rise in sterling m3 by 1 3 4 to two pct in february after a drop of 08 pct in january
first boston incs fbc sunter acquisition corp said it began its previously announced 2460 dlr per share tender offer for allegheny international incs common stock
notes net excluded extraordinary losses 2791 mln dlrs
commonwealth bank of australia issues novel bond
a norfolk southern corp nsc spokesman said the company had no comment on twas offer for usair or on its proposal to negotiate a three way merger between twa usair and piedmont
but diminished customer resistance to fixed prices and in some cases marketing incentives have helped their sales
the mayor added that british french and japanese firms had already contacted the shanghai authorities with proposals on the underground railway project
still other analysts believe currency futures have yet to peak
national guardian natgo acquires alarm firm greenwich conn national guardian corp said it acquired pacific fire extinguisher co which specializes in installation of fire and burglar alarms
the two developments occur as the reagan administration continued to come under fire in congress for its plans to bring 11 kuwaiti tankers under american flags
the cpb forecast 25 pct export growth in volume terms in 1987 after four pct growth last year
first american financial corp said its board declared a special dividend of 20 cts per share and the regular 25 ct quarterly dividend both payable april 15 to holders of record march 31
hodel said the loss of some domestic oil production through the shutdown of stripper 10 barrels a day or less wells because of low prices was probably permanent
in his sec filing redstone who estimated his cost of completing the takeover at 295 billion dlrs said bank of america is confident it can raise 2275 billion dlrs
borrowings have held near a weekly average of 300 mln dlrs over the past several months he said
the company currently has about 322 mln shares outstanding after completion of the buyback of nearly all of the 12 mln shares a spokesman said
a preliminary duty of 854 pct was set last oct 17 on the imports which run at about 700 mln dlrs a year
qtly div 33 cts vs 28 cts prior pay june 1 record may 1
the remaining 200 billion yen will yield 39994 pct in a 39 day repurchase pact maturing on april 14 they said
frederick florjancic vice president finance told analysts brunswick was disappointed two credit rating services recently downgraded the companys debt which stood at about 6654 mln dlrs at 1986 year end
early this year the commerce ministry quietly told foreign companies interested in selling aircraft ships drilling rigs and railway equipment to india that they stood a better chance if they bought indian goods or services in return the trade sources said
anderson said
total gold and foreign assets rose to 630 billion rand from 622 billion of which the gold content increased to 6622 pct from 643 pct
lucas industries incs convertible eurobond has been increased to 83 mln dlrs from the initial 75 mln dlrs due to strong demand for the deal lead manager j
japan depends on imports for more than 90 pct of its aluminium demand which totals some 18 mln tonnes a year they said
new york futures exchange to relocate
he also said that petroleum futures are a major market for oil companies as well as for commodity traders
reynolds metals co said it filed a registration statement with the securities and exchange commission covering a planned offering of 200 mln dlrs of convertible subordinated debentures due april 1 20012
proceeds will be used to repay existing debt with the balance to be used in its acquisition program and for additional working capital the company said
the two cts per share quarterly cash dividend will be payable may 29 to shareholders of record may 13
non defense capital goods orders fell 16 pct in february to 263 billion dlrs after falling 87 pct in january the department said
bsn corp said it expects revenues of about 120 mln dlrs and a substantial increase in net income and earnings per share for 1987
the offer was to have expired wednesday
comp u card international inc cucd 4th qtr net
current qtr and year figures include 29 mln dlr reserve for estimated loss from proposed divestment of one third of existing 40 offices
the group a partnership of afg industries inc afg and wagner and brown was to go to court on march 27 to block gencorp for having the three proposals voted on by shareholders at its annual meeting
its domestic borrowings however rose to 1052 billion taiwan dlrs from 806 billion in the same period he added
kenneth mccormick co chairman of the international swap dealers association isda and president of kleinwort benson cross financing inc said that the association has no comment and will study the proposals
a
lukman during a brief visit to london on his way home from jamaica told in a telephone interview that in february opec had underproduced partly because members were strictly abiding by production quotas and partly because they were resisting the temptation to sell at discounts to official prices of around 18 dlrs a barrel
it estimated the crop at 384 mln bags compared with the previous years 433 mln bag harvest
syria seeking white sugar on april 8 trade
samuels called the us plan to eliminate world farm subsidies by the year 2000 proposed at gatt in july visionary and very serious the ec and japan have said it is unrealistic
a us house subcommittee voted to give president reagan authority to block foreign takeovers of us companies similar to the takeover of fairchild semiconductor corp
i dont see anything on the horizon that should cut it growth short fernandez said
however stoltenberg said that in real terms west germanys exports by volume had increased by 15 pct while real imports had risen by a much stronger 62 pct
k mart km opens bank branches in stores
yeutter says stock market overreacted to japan trade dispute
shr 54 cts vs 24 cts net 633300 vs 300859 sales 152 mln vs 130 mln avg shrs 1165047 vs 1224982 year shr two dlrs vs 164 dlrs net 2379400 vs 2011924 sales 586 mln vs 540 mln avg shrs 1187828 vs 1223511
a marketing loan for soybeans was not discussed at last weeks meeting participants said
continental health affiliates inc said it repurchased about 30 pct of its june 1985 swiss franc convertible bond offering at prices below par
bicc plc biccl 1986 year
ibm ibm to redeem 250 mln dlrs of notes
bally bly considering sale of six flags
later vice president glenn schleede said the utility is looking at gas fired combined cycle generating units to supply most of its new power needs but has not rejected coal fired fluidized bed units
banner industries inc said it completed the purchase of all rexnord inc rex common shares for its 2625 dlrs per share cash tender offer that ended feb 27 1987
the group incurred a 1986 net loss of 37 mln stg against a 254 mln profit the previous year
it also said that based on recent independent petroleum engineers estimates of oct 31 1986 there may be no amounts avialable for distribution the rest of the year
the prior year earnings included a 2100000 dlr charge for the disposition of craft showcase stores
australia accused the us of increasing protectionism on agricultural products and called for an end to washingtons special 32 year exemption from certain gatt rules on agricultural trade
no further details were immediately available
gamma biologicals inc gamao 4th qtr march 31
abroad six ships lay idle in the netherlands spain venezuela france and south africa he said
although primary smelting costs have declined generally in recent years the still substantial energy cost savings offered by secondary smelters will continue to make re melted material increasingly attractive
it cautioned that exposures to uk local authorities and those guaranteed by the british export credit guarantee department would probably not qualify for such treatment
an underwriter familiar with the dow chemical deal pointed out that because of the interest rate and currency swaps dow did the issuer felt comfortable setting a rate floor
visual technology vsalc control changes
domtar inc said it filed a preliminary prospectus for an issue of 100 mln dlrs of 10 pct debentures to be offered at 99 3 4 to yield 1003 pct and to mature april 15 2011
in an interview with lyng also acknowledged he was troubled by the prospect that the export enhancement program eep could prove so indispensable to boosting us exports that the us would have difficulty abandoning it
he said the implication for equity markets in neutral to bullish
the soviet unions industrial output is growing at a slower pace in 1987 than in 1986 and foreign trade has fallen central statistical office figures show
southwest airlines co luv unit adds service
in turn he added the united states would like to change some of the procurement requirements that exist at the provincial government level in canada
may illinois river ex chicago 100 pct bid 107 1 2 offered no comparison
on the budget deficit which tripled to a provisional 47 billion forints last year after quadrupling in 1985 fekete said the finance ministry was working out measures to reduce an approved target deficit for this year of 438 billion forints to between 30 and 35 billion forints
moet hennessy mhsppa is issuing an 800 mln french franc 10 year eurobond with share warrants lead manager lazard freres et cie said
last month the bank endorsed economic changes already introduced by indonesia but implied it wanted more
shr 30 cts vs 73 cts net 3992000 vs 852600 nine mths shr 172 dlrs vs 174 dlrs net 22110000 vs 20379000 avg shrs 13459000 vs 11740000 note prior nine month figures include extraordinary after tax loss of 109 mln dlrs or 93 cts per share
what we are suggesting is reasonable it should be better understood not just outside the community but at home he said
shr 173 dlrs vs 166 dlrs net 3637000 vs 3789000 revs 276 mln vs 266 mln year shr 347 dlrs vs 234 dlrs net 7815000 vs 5340000 revs 943 mln vs 819 mln
more us grain certificates needed study says
however the oecd study results are controversial because they highlight the levels of assistance to farmers officials familiar with the study said
in the last three months money stock grew at an annual rate of seven pct down from 10 pct in the previous quarter
ongpin said the governments debt equity scheme introduced in august last year had attracted more than 276 mln dlrs worth of applications but selective evaluation had resulted in approvals of only 618 mln dlrs at end february
the arrests followed the appointment by the bank of italy of three commissioners to run carical temporarily following investigations revealing serious irregularities at the bank
proceeds also may be used for working capital reduction of short term debt and capital expenditures it said
a new international natural rubber agreement inra will be formally adopted tomorrow chairman of the negotiating conference manaspas xuto of thailand said
lpl also said merrill lynch and co has committed to buy 175 mln dlrs of subordinated and preferred debt in the new lpl unit according to allied signal
he said tropical fruit came from developing countries but faced non tariff barriers quantitative restrictions or very high duties in other nations
symbol technologies inc smbl calls warrants
however it is difficult to determine now whether this gain will be sufficient to offset the expected operating loss the company said in a statement
the company said completion of the transaction is subject to regulatory and shareholder approvals
south atlantic financial corp said it has agreed in principle to merge with independence holding co into a new company to be called safco international ltd
opec oil exports are priced in us dollars and the dollar has fallen about 30 pct in the last 18 months
but activity in the retail sector declined slightly over the past two months
bumpei otsuki president of the influential japan federation of employers associations nikkeiren told reporters the yen might rise as far as 140 to the dollar the us economy is not good and as long as the us economy is not good the us will put various pressures on japan the yens level depends on the condition of the us economy rather than japans economy and as long as the american situation is bad the yen will continue to rise he said
banking sources here said only an escalation of south african political unrest would increase foreign pressure on repayments
we expect the declaration of our unified position to have a positive effect he said
1986 year net excludes 440000 dlr debt retirement gain and gain 128 mln dlrs from sale of hpsc inc hpsc stock
edelman who owns about five pct of lucky stores stock last year was rebuffed in his effort to acquire the company
petrol station owners said many garages had closed indefinitely today in sao paulo parana mato grosso and mato grosso do sul
blue circle profits dividend rise
indeed eurobond traders estimate that about 80 pct of all new debt issued here last year over 186 billion dlrs worth was part of either an interest rate or currency swap
other service industries that increased jobs last month were finance insurance and real estate
white house and defense officials said today that massing of the fleet was routine and had nothing to do with the iran iraq war or irans recent stationing of chinese made anti ship missiles near the mouth of the gulf
the reserves hit a record 53 billion us dlrs yesterday
chi chis inc said it has taken a 20 mln dlr pretax charge against earnings for the third quarter ended january 31 to cover the cost of disposing of 21 underperforming company owned restaurants
it said the acquisition is subject to approval by fox shareholders and is expected to close in mid august
hyponex corp said it filed with the securities and exchange commission for a public offering of 100 mln dlrs of senior subordinated debentures due 1999 with an over allotment option of 15 mln dlrs
were going to reduce ai to a size consistent with our financial resources said chairman oliver s
federal funds which averaged 622 pct yesterday opened at six pct and remained there in early trading
corrected bankers trust new york bt payout
symbion said its board and management are carefully reviewing the offer and on or before march 30 will advise its shareholders on whether it accepts or rejects the offer
dixons said earlier it would allow the offer to expire tonight
euroyen bonds showed a firmer tone led by some professional short covering from tokyo
sales of pharmaceutical and nutritional products were 548 mln dlrs in the first quarter up 176 pct over a year ago abbott said
gomes said in the statement there have been no problems in the concession of funds by the treasury for payment of the coffee delivered to the ibc warehouses by the producers
yesterday prices for the spot may contract fell below 100 dlr a lb for the first time since august 1981 after the international coffee organization did not place new export quota discussions on its current agenda
m
ubs won the other two issues in competitive bidding acting as sole underwriter
interest rate will be five pct subject to upward adjustment based on dividends paid on common shares noranda said
a new convoy of tankers escorted by american warships headed down the gulf on wednesday towards iranian oil platforms still oozing smoke after having being blasted by us navy raiders
the company also said in the proxy statement for its annual meeting that in 1986 the board approved the granting of 770 mln dlrs of cash awards to 1914 executives and 162 mln dlrs for a supplemental executive retirement plan under its incentive compensation program
south yemen is planning a major oil pipeline system to be completed in 18 months time to start exports at a initial rate of 100000 barrels per day bpd the middle east economic survey mees said
us sales should rise to more than 30000 from 28670 last year
several hours later the pentagon announced that us warships had begun escorting two us flag kuwaiti tankers the 80000 ton product carrier ocean city and 46000 ton liquified petroleum tanker gas king southward from kuwait
federal reserve board chairman paul volcker said that debtor nations have made much progress in laying the groundwork for economic growth but a solution to world debt difficulties was endangered by inaction on new financing
ccl industries inc 4th qtr net
santos said 75 pct of its loans were us dollar denominated and significant currency purchases were made during the year to maintain that natural hedge
bundesbank adds money market liquidity at 370 380 pct dealers
feds heller sees return to slower money supply growth
malhotra said indias m 3 money supply grew 20924 billion rupees in the fiscal year to march 13 compared to a growth of 15538 billion in the same period the year before
bat sees strong performance from all sectors
olson olsn to have loss from egg unit sale
they were not good value for us but possibly so for someone else silas said
levon said re checked assays from zone two averaged 0693 ounces of gold a ton over a 123 foot section with average width of 466 feet
this brings the banks total help so far today to 945 mln stg and compares with its revised forecast of a one billion stg deficit
but he said there was a need to spell out government policy especially on prices
i think theres a probability he goes up in price said rose
shr 39 cts vs 32 cts net 2524000 vs 204600 sales 285 mln vs 235 mln nine mths shr 101 dlrs vs 109 dlrs net 6323000 vs 6990000 sales 806 mln vs 688 mln note current qtr and nine mth net include 447000 dlr gain on asset sales
this years net includes an extraordinary loss of 201000 dlrs and a gain of 47 mln dlrs
some traders expressed a preference for a resumption of trading on the london metal exchange but they added that while there has been some behind the scenes discussion on the subject a definite move is unlikely until outstanding high court litigation actions have been resolved
the company said the acquisition makes chase the second largest issuer of credit card and other unsecured consumer credit loans
the following import levies for white and raw sugar are effective tomorrow in european currency units ecu per 100 kilos
about 60000 tonnes of harvested raw cotton may be spoiled by rain in tanzanias northern shinyanga region because it is stored in the open or in crude village sheds radio tanzania reported
qtly div 18 cts vs 17 cts prior pay april 15 record april one
mobile home credit was down by 59 mln dlrs in february after rising 141 mln dlrs in january
diplomatic and official sources said sudan was now only servicing debts owed to creditors bound by regulations banning them from extending fresh loans to recipients in arrears
pakistan gets 70 mln dlr world bank loan
the items for which prices were frozen included rice sugar cooking oil potatoes salt wheat flour cigarettes soft drinks school supplies and several kinds of vegetables
the company said it expects the sale to close in the next few weeks
the atpc launched a plan to limit member tin exports to 96000 tonnes for a year from march to cut the tin surplus to 50000 from 70000
whether you agreed with him or not he has a superb grasp of ideas certainly not all bankers did agree all the time with volcker
the office of finance said allocation of the 1997 issue will be limited to members of the long term selling group
associated newspapers has 10 pct of northern star
at the moment the commission is proposing the rate of levy remain unchanged at three pct but pye addressing a feed manufacturers dinner in glasgow said this could change if its controversial plans to cut cereal prices and introduce an oils and fats tax are blocked pye said ukasta would continue to fight the cereals levy tooth and nail however a test case in the european court of justice contesting the legality of the current regulation applying the levy which is being backed by the ec feed manufacturers organisation fefac was not now expected to be heard until the end of 1987 he said
the subsidies were immediately restored as part of moves to quell the disturbances
shr 225 dlrs vs 135 dlr net 1199791 vs 724755 revs 117 mln vs 9105952
it is guaranteed by the state of victoria
the latest gold price in zurich was 2045 2070 francs per 100 grammes
period ended may 2 shr loss four cts vs loss three cts net loss 397000 vs loss 330000 revs 321 mln vs 304 mln note full name marks work wearhouse ltd
he added the cost of failure is beyond calculation
they said lower interest rates and financial liberalisation have cut profits from dealings with big firms to nearly nothing
the ministry instructs banks to establish reserves for up to five pct of their loans to 35 financially troubled countries but it only grants tax breaks on reserves accounting for one pct of the loans
the current account deficit narrowed to 750 mln dlrs in february from 123 billion in january
canada southern petroleum ltd 2nd qtr loss
however the figures exclude exchanges with the eastern bloc paid in non convertible indian rupees the sources said
minister of energy and mines arturo hernandez grisanti said discussions are currently taking place to finalize the terms of the contract with the foreign partner
hanson trust han us arm sells chemical unit
the issue is non callable for life and rated baa 1 by moodys investors service inc and bbb plus by standard and poors corp
mercer who plans to testify tomorrow at a senate hearing on a proposed bill to control corporate raiders said hostile takeovers have also hurt workers
exovir said the transaction increases the groups stake from 129 pct to 185 pct
the eiu said in its world trade forecast it revised oecd economic growth downwards to 25 pct this year compared with a 28 pct growth forecast in december
italys foreign trade minister mario sarcinelli commenting on speculation in the italian press said a sharp balance of payments deficit in may could not be attributed to recent moves liberalizing the purchase of foreign securities
the bass group holds 25 pct of taft and lindner holds 162 pct
the price depends on the amount of the inventory that will be in the stores on the closing date
we just dont know where the market is going said a european banker
norfolk nsc unit sells equipment certificates
many large corporations have invested in small biotech firms
eastek corp estko 1st qtr sept 30 loss
economists said energy prices the driving force behind the january rise rose more moderately last month while food prices declined
it is also doubtful whether the tertiary sector can fully employ those put out of work in the manufacturing sector he said
several leading brokers have already announced plans to leave their firms and establish new private client businesses while others plan public floats
us coffee import reporting system questioned
fed adds reserves via customer repurchases
dixons group plc dxnsl said its tender offer for all of the common shares in cyclops corp of the us expired at midnight yesterday and that it had accepted approximately 23 mln shares in the company at 9025 dlrs each
the smoothed but not seasonally adjusted deficit on invisibles was 226 mln dlrs against 225 mln in january and 234 mln in february 1986
to combat this the bank of spain has raised its call money rate 14 times so far this year to 145 pct at present from 118 at end 1986
interconnect capital corp said it sent a letter to the board of gates learjet corp offering to buy the company for 707 dlrs a share
us junk bonds unaffected by texaco tx filing
the convertible debentures may be exchanged for class a common stock at the holders option at 1125 dlrs
those resources are a reflection of very real concerns on our part in dealing with a very difficult problem wilson said in response to questions about management of the economy from opposition party members
in payment for the acquisition dotronix will issue 312500 unregistered shares of its common stock notes worth 18 mln dlrs payable over three years and about 70000 dlrs in cash
moorhead told the rothschild officials that warburg pincus considers the offered price to be a fair one warburg pincus said
the bank said non bank private sector holdings of public sector debt fell by about 400 mln stg in february while external flows to the public sector were about 100 mln stg
these curbs have pushed up oil prices from around eight dollars a barrel in mid 1986 to around 18 dlrs
while call money has dropped by well over a percentage point the bank of frances money market intervention rate has remained unchanged since january 2 when it was raised to eight pct from 7 1 4 pct in a bid to stop a franc slide
martens said the plan involved raising non fiscal receipts by 58 billion francs and reducing spending by 143 billion
the award is being contested
ma hanna co said it has reached definitive agreement to purchase pms consolidated a privately owned manufacturer of colorants for the plastics industry
they noted heavy buying in hk hotel shares after an announcement by evergos china entertainment and land investment co ltd unit that it bought about 20 pct of hk hotels from the firms deputy chairman david liang for 106 billion dlrs
commerce officials declined to say if any canadian companies had been evading the charge but said following the talks they were convinced all exporters were complying with the agreement
shr 13 cts vs 47 cts net 13492000 vs 46417000 revs 7202 mln vs 7936 mln avg shrs 99085000 vs 96804000 note per share results reflect payment of preferred dividend requirements
the rules permit him to buy and sell cocoa from origins or the second hand market on an offer system not by means of a posted price as in the previous cocoa accord
the reality is that our debt service capacity has been totally affected by the recent cataclysm he added in a news conference last night
corrects march 11 item to exclude tax credit
we also take into account other factors such as prices at which the goods and services are offered to india the trade official said
supports dismissal of twa application for usair control
he said the asa also had obscured the health issue during the debate
president reagan preparing to depart for the venice economic summit on wednesday said the united states and its allies must fulfill agreements on exchange rate stability
burlington has alleged in its lawsuit that edelman and dominion used illegally obtained confidential information about the company in making their takeover attempt
hollinger inc said it completed the previously reported acquisition of privately held unimedia inc the owner of three french language daily newspapers and four printing plants in ontario and quebec
1986 year net reflects undisclosed amount of expenses for defense of takeover effort
its aggressive global strategy began in the 1980s when other canadian trusts the equivalent of us savings and loans were focusing on domestic retail banking
sci med smls board agrees to bristol bmy deal
henry rosenberg chairman of crown central petroleum corp cnp told that unless refining and marketing return to profitability oil companies will have to rely on downstream operations to produce an acceptable level of earnings
tunisia has bought 150000 tonnes of french soft wheat for august to december shipment at 7670 dlrs per tonne fob with coface export credit trade sources said
the agency said some areas of guangxi hubei shanxi and other provinces have been suffering a drought for more than seven months
the soviet union has called for changes to the way the iso budget is shared out
green told analysts that utilicorp received regulatory approval from various states and the federal energy regulatory commission to reincorporate in delaware effective april one
uccels liemandt declined to say what he will do after the merger but he did not rule out working together with wang
the aspen institute for humanistic studies a private group also called for new research for oil exploration and development techniques
but at the same time free market demand has also fallen by almost the same amount which has left exporters chasing falling import requirements
a spokesman at manufacturers hanover noted that of 23 billion dlrs in loan exposure to brazil only 13 billion is subject to brazils unilateral moratorium on repayment of interest
it said due to protracted negotiations with first national several american variety divisions were inoperative in 1986
shr 1006 cts vs 769 cts final div 40 cts vs 32 making 58 cts vs 50 pre tax 1417 mln rand vs 885 mln net 1006 mln vs 769 mln tax 410 mln vs 116 mln gross premiums 21016 mln vs 17869 mln net premiums written 14399 mln vs 12388 mln underwriting loss 178 mln vs loss 625 mln div pay april 10 register march 27
net 492000 vs 677000 year net 2650000 vs 2566000 note companys full name is indiana federal savings and loan association
chairman james baker said 1987 quarterly comparisons will not conform to historical patterns for the year because the acquisitions of schrader and maremond occurred in different quarters
the strike price represents a premium of about 15 pct over the current market price of gold
shr loss seven cts vs loss 64 cts net loss 367000 vs 3009000 revs 2516000 vs 8787000 avg shrs 4941000 vs 4714000 nine mths shr loss 73 cts vs loss 117 dlrs net loss 3545000 vs loss 4573000 revs 6788000 vs 133 mln avg shrs 4856000 vs 3908000 note prior year net includes tax credits of 63000 dlrs in quarter and 1395000 dlrs in nine mths
prices for 03 pct and 05 pct sulphur fuels were unchanged at 2250 and 2185 dlrs respectively the company said
he said the net transfer was hurting the countrys continued growth and capacity to import goods
infinite graphics inc expects earnings for the fourth quarter ending april 30 to exceed the 127587 dlrs or seven cts a share posted a year ago chairman clifford f
poland reassures creditors on economic reforms
mobil mob raises west coast crude postings
realmerica co raco year nov 30 net
the white house economic policy council would consider the sale in the coming weeks they said
central which operates 46 branches has been under management guidance of the fslic since may 1985
while follow through buying has aided the advance so far and bouts of short covering have prohibited a slide through chart support the rally in september t bonds has been thwarted above the 93 level
shr 109 dlrs vs 120 dlrs net 1193000 vs 1361000 revs 187 mln vs 173 mln year shr 119 dlrs vs 152 dlrs net 1300000 vs 1831000 revs 506 mln vs 488 mln
because banks would be able to sell the pins to multinational investors at relatively small discounts to face value their total yield would be boosted well above the 5 8 pct cash margin according to the philippine proposal
hughes us rig count rises to 784
multi step also said it will pay 900000 dlrs to cancel 711192 of its own shares which will be acquired from michael penhale and his benficiaries
gallatin said the securities were sold to a broad range of investors including major insurance companies banks money managers and pension funds
in the services sector increases in finance insurance and communication were more than offset by declines in transportation storage and the retail trade
wholesalers inventories rose 13 pct in january to 14025 billion dlrs
there were no bales awaiting review and 1218 bales awaiting decertification
nogales said practical and strategic considerations would determine the exact timing of the offer but it would be made in the next few months
recurrent profits were estimated to fall 20 pct in the current fiscal year with sales forecast to drop 14 pct
agriculture secretary richard lyng said the ruling of a gatt panel on a us trade complaint against japan expected soon may influence the us stance in negotiations with tokyo on beef and citrus import quotas
since the beginning of 1984 the banking law has limited banks lending to 18 times shareholders equity plus reserves on a consolidated basis
the ec is the largest buyer of thai tapioca absorbing more than two thirds of the 58 mln tonnes of pellets exported by thailand last year
few new wells now are being drilled
for their part borrowers say they feel a bit like guinea pigs
american express axp up on shearson rumors
he declined to respond specifically to a question on this subject but said you must attach particular importance to the consensus which was reached in paris the minister nevertheless added that he would make clear during his trip to washington that west germanys nominal trade figures gave a false impression about actual trade flows
a third el paso gas a subsidiary of burlington northern bni has expressed no interest
monsanto mtc to acquire rhone poulenc assets
a spokesman for preussag ag prsgf said it was not yet certain whether the company would pay a dividend on 1986 results he was commenting on a preussag statement which said results in 1986 were lower than in 1985
he said new zealand is moving rapidly and of our own initiative in the direction of liberalisation and i warn you we shall be looking for partners
z seven fund sees higher 1987 net
shell canada ltd 72 pct owned by royal dutch shell group anticipates an improved level of earnings in 1987 assuming a continuation of prices and margins that existed at the end of 1986 and early 1987 the company said in the annual report
exchange rates almost within g 6 levels sumita
underlying dollar sentiment is bearish and operators may push the currency to a new low unless japan takes steps to stimulate its economy as pledged in the paris accord foreign exchange analysts polled by said here
us corn exports seen well ahead of last year
excludes tax carryforward 150000 for prior qtr
the facility will be co arranged by morgan guaranty and the industrial bank of japan ltd
the commissions determination that perry unit 1s power is not needed could depress duquesnes earnings and cash flow well into the future
the debentures are convertible into the companys common stock at 4425 dlrs per share representing a premium of 2643 pct over the stock price when terms on the debt were set
the sequestered shares are split into 24 mln a shares which can only be owned by filipinos and 14 mln b shares which are available to foreign buyers
the exchange rate has been set at 9684 yen to the franc
1986 net excludes 729000 dlr tax credit
it said yugoslav finance minister svetozar rikanovic yesterday met world bank and international monetary fund officials in washington
the minister believes that market forces will push the dollar back up from its record low of 14470 yen today according to the spokesman
he said bolivia could not even pay interest to friendly creditor countries let alone commercial banks
mthly div 71 cts vs 71 cts prior pay april 30 reord april 15 note franklin puerto rico tax free income fund
we look for rapid progress in commercial bank discussions with argentina the philippines and ultimately brazil he said
fortune said that under the agreement it will pay 2010 dlrs cash for each of marines 500000 shares outstanding among other things
the rules would not apply to syndicated loan facilities revolving credits or commercial paper the bank said
gulf applied technologies inc said it sold its pipeline and terminal operations units for 122 mln dlrs and will record a gain of 29 mln dlrs in the first quarter
new eep durum wheat offer to algeria usda
an indonesian ministry of trade official said this was incorrect
in addition to the possible bid for control the group said it may purchase additional media general shares or possibly seek one or more seats on the companys board of directors through a proxy contest
consumer goods prices rose slightly
the pipeline which carries oil for turkey and other customers from iraqs kirkuk field to the yumurtalik terminal on the turkish mediterranean coast is iraqs main oil outlet
he said that after the recapitalization takes effect proforma net income for the fiscal year ended july 31 1988 is expected to be about 287 mln dlrs
the soviet buying follows recent whites buying by india turkey and libya as well as possible raws offtake by china
it said a group or individual buying up a companys stock should be required to file a public disclosure statement before acquiring more than five pct of the companys shares
notes in circulation totalled 1711 billion dlrs up 59 mln dlrs from the week before
north rhine westphalia is raising 12 billion marks through a 10 year domestic bond with a coupon of 6 1 8 pct and priced at 10020 lead manager westdeutsche landesbank girozentrale westlb said
the paper said the proposed rules would not cover spot foreign exchange contracts and securities traded in futures and options exchanges
cts cts and dynamics dya reach accord
but as one senior banker noted it is probably the best we could hope for
final terms will be fixed before april 21
the unfiltered index rose 08 pct in the month a turnaround from the 03 pct decline in november the federal agency said
blampied will become vice chairman and chief operating officer of the holding company
federal reserve board chairman paul volcker has repeatedly told congress that cutting federal red ink would go a long way to help reduce the massive trade deficit and also help ease some of the downward pressure on the value of the dollar
boeing ba merger waiting period expires
the world bank sources said lending to the philippines is designed to support its balance of payments position while the government aims for a target of six to seven pct annual gross national product growth
belgium is minting an initial 50000 gold coins to celebrate the 30th anniversary of the european communitys founding treaty of rome but final production is expected to be around 200000
viacom last week agreed to be acquired by national amusements for a combination of cash and stock with an estimated value of 53 dlrs a share or a total of about 34 billion dlrs
im trying to write legislation that will be signed by the president in writing the bill the subcommittee rejected calls for trade relief for specific industries such as textiles
metromedia said only five pct of the debentures remain outstanding as a result of a november 1986 purchase offer and previous offers under which metromedia bought 103 mln dlrs principal amount of debentures at 80370 dlrs per 1000 dlr principal amount
south koreas gross national product gnp is forecast to grow by nine pct in 1987 surpassing the governments original forecast of eight pct and against a 125 pct rise in 1986 an economic planning board report said
analyst said
i would hope that it would simply be a temporary blip upward as weve seen in the past baker said in television interview with the cable news network
iraq reports attacks on supertanker oil targets
norways central bank sold crowns in the open market in a bid to ease strong upward pressure on the currency which threatens to rise above set levels in a basket of currencies dealers said
leslie glick who together own about 34 pct of genex stock will provide irrevocable proxies to the venture firms on completion of the rights offering and have agreed not to exercise their rights to acquire stock in the rights offering
the issue is guaranteed by the austrian state
abes visit is to prepare for prime minister yasuhiro nakasones talks with president ronald reagan later this month
lewis westco had sales of more than 45 mln dlrs for its fiscal year ended june 30 gen term also said
borg warner industrial products has sales of about 300 mln dlrs from three divisions which provide advanced technology fluid transfer and control equipment systems and services worldwide clayton said
fidelcor incs fidelcor business credit corp subsidiary said it reached a definitive agreement to acquire a substantial portion of the bank of new england corps bkne lazere financial corps assets
dutch food retailer ahold nv ahlnas expects unchanged profits in 1987 but said it will take advantage of the lower dollar to expand further in the us turnover will grow but net profits are expected to remain around the 1986 level of 1324 mln guilders due to higher dutch taxes and a three year expansion plan ahold chairman albert heijn told a news conference
for currency dealers karl otto poehl is the scourge of speculators for bankers he is the man who has played a key role in shaping the worlds financial destiny for the last seven years and for germans he is the guardian of the mark
the trust invests in short term junior preconstruction mortgage loans and has total principal amount of investments of approximately 1057 mln dlrs
sichuan is one of six provinces threatened by drought
general partners officials were not immediately available
yesterday gillette rebuffed a takeover proposal from revlon inc
ziering said as a result of the new tax laws he expected the companys taxes to decrease by five pct to 31 pct of net income in 1987
bank negara said it does not intend to hold on to the shares of the two banks
miyazawa said that yesterdays news of a 43 pct rise in us gnp in the first quarter had been expected
robert durham said continued strong demand and low inventories pushed prices up eight to nine pct on the new york commodities exchange last month
new brunswick scientific co inc nbsc 4th qtr
the company said the purchase is part of a plan to increase the range of retail electronic scales being offered by esselte in the us it said the acquisition will enble esselte to increase its distribution base in its effort to grow in the us
conrac has no rated debt
chevron chv nippon oil form joint venture
this step would be very expensive for all and no one would emerge as a winner if the tax were introduced he said
dickey
the ec now guarantees oilseed prices to farmers above world market levels and is considering implementing a controversial oils and fats tax
it said courtaulds intends to conduct a tender offer for all the martin stock it does not own beginning as soon as necessary documents are prepared
the utility said the share of its interest in the 1205 megawatt generating plant was sold to a group of institutional investors which leased it back to the company for a period of about 29 years at a negotiated lease payment rate
the bank expects to be conducting open market operations as usual and after these operations daily cash balances should fluctuate around 30 mln dlrs
if after a party acquired 20 pct or more of its stock crazy eddie were acquired or 50 pct of its earnings power or assets sold rightholders other than the acquirer would be entitled to buy shares of the acquirers common stock worth twice the rights exercise price the company said
m
smith called for boosting gatts links with financial institutions such as the international monetary fund and world bank
the government having consistently overshot its own spending targets for more than a decade also faces a credibility crisis over expenditure figures outlined in the budget analysts said
sumita says he does not expect further dollar fall
nz unemployment rate 39 pct in december quarter
this combined with savings in raw material and energy costs helped offset falling prices and cost increases in other areas
last month the ivory coast informed its creditors it had to suspend payments on its foreign debt estimated at more than eight billion dlrs
the payment date is april 15 while listing will be in luxembourg
ec ministers will discuss strengthening ems float
however the reagan administration is considering whether to allow plywood sales to be covered by the credit guarantee program sims said
recommendation reiterated on wang labs wanb 
he also said the federal government should maintain the existing 15 pct export tax and not allow provinces to offset the tax with increased provincial fees for cutting lumber
kenyan coffee needs rain traders say
guatemala has already proposed the other oilds producer group should meet in the next two months to begin talks on how to allocate quota shares
shr loss not given vs profit 16 cts net loss 309000 vs profit 426000 revs 6358000 vs 6747000 year shr profit 27 cts vs profit 76 cts net profit 713000 vs profit 2021000 revs 249 mln vs 271 mln note pretax net profits 113000 dlrs vs 824000 dlrs in quarter and 1863000 dlrs vs 3606000 dlrs in year
the surplus on the current account narrowed to 68 billion dirhams from 255 billion in 1985
no date was established for the renewal of payments
the increase in reserves came despite a sharp cut in the number of wells aramco drilled to 33 in 1986 from 103 in 1985
there is a lot of oil priced on government to government deals which are below official prices and this is probably being resold one international trader said
pembroke capital co incs debt remains under review
the acquisition mostly extends citicorps reach into southern california where 34 of the 50 branches are located
the coal comes from the emerald mine in southwestern pennsylvania
1986 year net excludes 133000 dlr provision for loss on disposal of discontinued operations
miyazawa said the paris currency accord among six major industrial nations last month does not necessarily mean the yen should stay stable around current levels in the future
qtly div 14 cts vs 14 cts prior pay april 10 record march 27
traders said euroyen commercial paper could spur more demand overseas for the yen by allowing opportunities to shift into shorter term securities if need be
to encourage further international use of the yen the ministry is considering allowing the issue of euroyen commercial paper the official said adding that it is studying demand from potential borrowers
the world bank said it approved four loans to jamaica totalling 104 mln dlrs to assist that country with an economic structural adjustment program a sugar industry rehabilitation scheme and a population and health project
dutch consumers industry see veg oils tax threat
soo line corp said it agreed to sell its lake states transportation division to the newly formed wisconsin central ltd
current consumption is some 125 mln tonnes
the preliminary unadjusted february index rose 06 pct from a year earlier after a 05 pct year on year rise in january the adjusted february producers shipment index base 1980 rose 07 pct to 1185 from january when it fell 07 pct from december
in last years first quarter ended april 30 computrac earned 379000 dlrs on revenues of 24 mln dlrs
oakridge holdings inc 2nd qtr dec 31 net
the company said if the conditions occur the warrants would be exercisable at a price equal to 75 pct of its common stocks market price at the time not to exceed 150 dlrs per share
tilden said gencorp expects to realize about 850 mln dlrs in after tax proceeds by the end of 1987 as a result of sale of several pieces of the nonbroadcast assets of the company including general tire
plains plns posts reserves increases
oper shr 45 cts vs 24 cts qtly div six cts vs six cts prior oper net 1766000 vs 950000 revs 9321000 vs 5298000 year oper shr 125 dlrs vs one dlr oper net 4985000 vs 3894000 revs 283 mln vs 199 mln note net excludes losses from discontinued operations of 161000 dlrs vs 66000 dlrs in quarter and 464000 dlrs vs 226000 dlrs in year
its sumitomo been bold in its strategies said kleinworts smithson
strenger said the industry would try to increase production in the us to make up for lost export possibilities out of west germany
dyr said it expects its stock to be withdrawn from registration under the securities exchange act of 1934 shortly after april 14
europe shipping exports to s africa off 40 pct
oper shr 121 vs 88 cts oper net 7767000 vs 5494000 revs 1637 mln vs 1335 mln note 1986 and 1985 oper net excludes a loss of 1332000 dlrs and a profit of 319000 dlrs respectively for discontinued operations
conversion price for both transactions was 175 dlrs per share
the us west germany france switzerland and britain have intervened on their own account to prop up the dollar he said
ideas include schemes to link debt payments to trade and proposals for stable interest rates
but it held over for the full ways and means committee debate on a controversial plan by rep
forstmann little and co said lear siegler holding corp plans to divest its aerospace group subsidiary comprised of the defense electronics group and the components group
nbc also said any daily hires would be represented by the union and would be phased in at four pct of regular staff in the first year of a contract and six percent afterward
next year based on an average oil price of 18 dlrs a barrel arco should earn about five dlrs a share
in anticipation of legislative changes that take effect in 1989 security pacific has also negotiated the future purchase of the nevada bank with assets of 615 mln dlrs
a us government trade official responsible for coffee policy said prospects for an accord on coffee quotas are still uncertain despite recent colombian efforts to bridge differences between producers and consumers
but by then sterling should be firm enough to satisfy even the bank of england he added
us urges japan to open farm market further
chemlawn also said it began litigation against waste management in federal court in columbus seeking injunctive and other relief
the company also said it was advised that dixons shareholders approved the merger satisfying that condition of the agreement
the department said an additional 43 billion dlrs in certificates has been authorized for issuance during january august 1987
may was the eleventh successive decline from a peak last summer of 116 pct the employment department said
the year on year increase for february was 79 pct compared with 57 pct in january and 22 pct in february 1986 it added
the 600 room hotel stands on a 26700 sq ft site on the eastern side of hong kong island
the administration has strongly urged that the bill be expanded to feedgrains and to more than one year
market share in france was little changed at 25 pct against 253 pct
it said the second offer is contingent on the arrangement of financing adding the party making the offer is confident of its ability to obtain the balance of the financing
iran is claiming full repayment of principal and interest on the shahs loan made in 1975 to the eurodif uranium enrichment consortium
the delegates include us trade representative clayton yeutter
the banking groups consolidated balance sheet total rose to 4534 billion schillings at year end from 4254 billion
the sale was opposed by the us commerce department and defence department partly on national security grounds
g 7 seen fighting to keep currency pact
ors said the offer for private sale of the stock being made on a best efforts basis is designed to raise five mln canadian dlrs which the new company will invest in properties and projects using the electromagnetic well stimulation process developed by iit research institute under sponsorship of ors
mcintyres principal asset continues to be its 14 pct interest in falconbridge ltd falcf
the new singapore government securities market will start trading in late april or early may after president wee kim wee signs the development loan bill approved by parliament last week bankers said
in a speech sunday published in todays official paper granma castro said unseasonable rains since january seriously interrupted harvesting and milling operations especially in the central and western parts of the island
payment date is april 25 and the securities are available in denominations of five mln yen
for the fourth quarter it reported earnings of 1188 mln dlrs including a gain of 286 mln dlrs for discontinued operations and 905 mln dlrs mainly for claims settlements
the bank of japan will sell 300 billion yen of financing bills tomorrow under a 55 day repurchase accord maturing on may 12 money traders said
standard and poors rates the issue a top flight aaa
seipp said extraordinary earnings included a high two figure million in profit from the sale of the banks aeg ag aeggf shares to daimler benz ag daigf during the latters majority stake purchase booked last year
carol tucker foreman president of foreman and heidepriem and a former assistant secretary of agriculture for food and consumer services told a house agriculture subcommittee every hour of every day 22 americans become victims of chicken contaminated with salmonella she said every two and a half weeks an american dies of salmonellosis or complications arising from it and the incidence of poisoning from poultry has increased steadily over the past several years
the us economy will inevitably make the adjustment necessary to move from a deficit to a surplus trade balance in order to service our growing foreign debt he told a conference attended by the six members of the association of southeast asian nations and their leading western friends
the company said the tender offer is the first step in a plan to buy 100 pct of the purolator shares
the most likely range will be a bottom for the dollar between 140 to 142 yen per dollar and a top near 150 to 152 yen horner said
philippines ongpin optimistic on debt talks
qtly div nine cts pay april 30 record april six
a special federal prosecutor has been appointed to determine whether former reagan aide lyn nofziger acted improperly when he became a wedtech consultant four months after leaving the white house
dealers noted the market had seen vigorous demand throughout the day prompted mainly by sterling strength
oper shr 16 cts vs 34 cts oper net 4255000 vs 9299000 revs 2944 mln vs 1557 mln nine mths oper shr 124 dlrs vs 106 dlrs oper net 330 mln vs 288 mln revs 7405 mln vs 4575 mln note 1987 results include restructuring and non recurring charge of 89 cts a share to restructure chemlawn acquired in april 1987 and other recent acquisitions
an agreement could pave the way for ecgd to resume insurance cover for exports to nigeria which was suspended in 1983
champion parts rebuilders inc said echlin inc has bought a 20 pct stake in it by acquiring 600000 newly issued shares and warrants to buy another 300000 shares at 920 dlrs each for a total investment of 5400000 dlrs
servotronics inc svt year net
i dont think that the agriculture secretary said a us wheat subsidy deal to moscow would not be the kind of topic appropriate for discussion at a summit
exports in 1985 86 are estimated at 1772 mln tonnes vs 1771 mln last month
if 1985 figures were restated along the same lines the reserve figure would show a drop from 720 mln barrels previously
producer countries brazil colombia and a member of oamcaf the african and malagasy coffee organization may also be invited for consultation he said
both issues were rated a 1 by moodys and a by s and p
there is no one factor that will push us through the highs at this moment leiner said
both last months increase and januarys fall in farm incomes was because of government subsidy payments the department said
nike inc nike 3rd qtr feb 28 net
first interstate bancorp files shelf registration for 15 billion dlrs in debt securities
a dominion spokesman said canadas largest textile producer has been negotiating with many us textile companies but would not say whether burlington was among them
the fourth quarter figure was in line with cso projections released on friday
williams cos wmb completes sale of unit
current half net includes reversal of 2622000 dlrs of investment tax credits
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
shr 117 dlrs vs 80 cts net 5500000 vs 3500000 nine months shr 330 dlrs vs 210 dlrs net 151 mln vs 92 mln assets 16 billion vs 14 billion deposits 13 billion vs 11 billion loans 9470 mln vs 8220 mln
mayfair super markets said its sales for the second qtr ended feb 28 were 1220 mln dlrs an increase of more than 15 pct compared to sales of 1059 mln dlrs in the comparable quarter last year
defence secretary caspar weinbergers position was not known but in the past he has opposed the transfer of high technology to foreign governments or companies
the months ahead will prove critical as the government attempts a balancing act between defending higher oil prices and fostering recovery through a bigger role for the private sector
the current practice of filing tax redemption claims is time consuming they said
the us meat industry has prepared a petition requesting the reagan administration to retaliate against the ec rule
it added the acquisitions were the first step toward creating an oil and gas exploration and development enterprise
the fundamental direction of interest rates continues to be upward interrupted by intermittent rallies kaufman said in a statement
interco said the merger becomes effective april 14
period ended february 28
soybean cake and expellers 169 167 pellets 162 160 and meal 152 150 all for shipments through may
the agency said the amount of tied up working capital rose and sizeable funds were occupied by unsaleable goods in 1986
he acknowledged the us trade deficit was persisting despite a decline in the dollars value of 40 to 50 pct in the past two years
the main issue at the talks which opened here yesterday has been the inro buffer stock and the manner in which the buffer stock manager should continue to sell rubber after the current international pact for the commodity expires on october 22 they said
extension of committed advances by the underwriting banks a so called back stop facility
indonesian energy minister subroto said he sees the oil market continuing bullish with underlying demand expected to rise later in the year
japan will ratify the 1986 international cocoa agreement icca with effect from july 1 and will renew its membership in the international cocoa organisation icco foreign affairs ministry officials said
but the fact that overall broad money growth has slowed down is a rather encouraging sign noted paul temperton uk economist with merrill lynch capital markets
brazil and the us the largest consumer are both refusing to alter their positions
it said thomas nationwide will be combined with its systems leasing corp unit in maclean va
midivest said it expects to sell 10 to 20 of the renovated beechcraft planes next year
as a result net income for the first quarter will be reduced by 18 mln dlrs
malaysia re imposes export duties on rubber
profit from non markborough real estate was 235 mln dlrs in 1986 down from 276 mln dlrs a year ago
credit lyonnais issues zero coupon yen bond
south koreas purchase of about 24 mln tonnes of us corn in the past six months close to double last years total indicates that imports from the united states as well as total imports are set for a dramatic jump the us agriculture department said
when we saw that there was a demand and supply of money outside the banking system we could not envisage ourselves excluded from these transactions said osman erk deputy general manager of the private bank yapi ve kredi bankasi as
the us owned liberian flag tanker sungari was hit in the area on thursday also believed struck by an iranian missile
ivan herstatt managing director of the bank when it collapsed was sentenced to four and a half years in prison in 1984 but appealed
spains foreign reserves rose by 905 mln dlrs in february to total 1705 billion dlrs compared with 1411 billion dlrs in february 1986 bank of spain figures show
goodyear tire and rubber co said it expects to sell its celeron corp oil and gas subsidiary for about two billion dlrs in about two months
the meeting aims to set rules for the operation of the pacts buffer stock which producers hope will boost a market hit by successive world cocoa surpluses
but de clercq said the gatt program had been reached after long and hard negotiations and the ec did not want changes
fees comprise 1 1 2 pct selling concession and 1 2 pct each for management and underwriting
in a speech to the annual meeting of the inter american development bank he said excchange have moved into ranges that better reflect economic fundamentals he noted that in particular that dollar has fallen from its high point in early 1985 helping to moderate protectionist pressures in the us
however several congressional sources said they expect a broader 0 92 provision to emerge again when the house agriculture committee is faced next month with the need to make spending cuts in the agriculture budget for fiscal 1988 as part of an overall deficit reduction package
wean united inc wid 4th qtr
the department said the cattle are for delivery may 7 june 7 1987 and the bonus awarded was 188806 dlrs per head
theres a sense of urgency here now but the emphasis is on securing not undermining our interests in japan another government official told 
the west texas sour grade at 34 api now stands at 1810 dlrs a barrel
japan to allow more foreign brokers at auctions
they expected talks on stock verification to take up the remainder of todays session delegates said
grumman said it will design develop and build the ailerons rudders and elevators for the transport
this tender was part of a special tender for 500000 tonnes of spanish barley
treasury balances at fed fell on april 9
revlon closed yesterday on the new york stock exchange at 14 3 4
australias economy should manage modest growth over the next two years after a sharp slowdown but unemployment could still edge upwards the organisation for economic cooperation and development oecd said
volcker lost a lot of credibility by overstepping the bounds and pushing the package onto the banks commented one banker who helped to negotiate the mexican deal
in an editorial on the economic outlook the jakarta post said the government must press ahead with measures to deregulate the economy to help boost non oil exports
he said thailand will pay for 25 pct of the cost of the cranes in us dlrs and the rest by sales of rice textiles and other commodities to yugoslavia
between january 1 and february 15 132 firms had applied to do a debt equity conversion compared with 100 between may and december 1986
the previously announced float of part of its delhi interest will not now proceed csr said in the statement
he said in a statement a crash program was needed in the semiconductor industry to prevent the united states from becoming one of the worlds industrial lightweights bywaters remarks came as the white house economic policy council prepared for a thursday meeting to decide what sanctions if any should be taken against japan for alleged violations of a us japanese semiconductors agreement
the bonds will be issued in 5000 dlr denominations and listed in luxembourg
it is probable that some 18 mln tonnes have already been taken up they said
thermo electron tmo to sell convertible debt
shr 70 cts vs 42 cts net 2918000 vs 1746000 sales 683 mln vs 535 mln note 1987 net includes pretax gain 400000 dlrs from change in pension accounting
the economy grew by 53 pct last year up from 41 pct in 1985 ouko said
the bank official noted m 3 which includes m 1 money supply plus savings time deposits and deposit substitutes
the weightings also likely if lending ratios are extended to include banks securities portfolios are zero for public authorities 20 pct for domestic banks 50 pct for foreign banks and 100 pct for other foreign and non bank borrowers
the survey is expected to be completed by april 15
pace membership pmwi buys back notes
an easier monetary policy would not mean a loss of credibility for the bundesbank in its containment of monetary growth
a prime rate increase could happen as soon as tonight said robert brusca of nikko securities co international inc
mern jointly hold 13 pct itj is headed by a rival group of trading houses
helm h sells additional shares in bamberger
that particular development would maintain broad bank participation in new financing packages to debtors
the group said it raised its stake to 88580 shares or 62 pct of the total outstanding common stock after buying 14135 mcgill common shares between jan 19 and march 2 at prices ranging from 3357 to 3457 dlrs a share
above normal yields during recent years resulted in trees reacting to the stress by changing the sex ratio to more male inflorescences and or aborting more female oil world said
consolidated bathurst sees better market
customs can do a good job when given the tools but when its hands are tied it doesnt have the authority to demand form o documents tracking merchandise from source to destination he said
noranda said the quebec health and safety commission the quebec provincial police and noranda itself are each conducting an investigation into the fire
hertz realty issues 75 mln canadian dlr eurobond
seipp says german interest rates should fall
capital costs to bring the mine into production are estimated at 76 mln dlrs
the issue will be priced to have a conversion premium of 22 to 25 pct with final terms to be set on monday april 6
bank of france leaves intervention rate unchanged at 7 3 4 pct official
world bank issues 232 mln us dlr finance package
diamond shamrock dia sets proration factor
italy says g 7 gives chance to verify tokyo accord
even if you look at january and february together this is still a much stronger report than the consensus expectation in the market said allan leslie of discount corporation
but a water authority spokesman in duisburg 60 kms north of cologne said vessels there were moving normally
the deparment said 650 mln dlrs of government bonds mature may 1 1987
shandwick said it would raise 51 mln stg through the placing of 116 mln shares to finance the deal with the balance of 204 mln stg used to strengthen the balance sheet and in anticipation of future performance related payments
texaco inc said it raised the contract price it will pay for most grades of crude oil by 50 cts a barrel effective october 16
theres just not enough internal capital growth said wertheim analyst james hanbury who follows other us brokerage companies
six major industrial countries agreed at a meeting in paris in february to foster currency stability
the company said it is increasing medium and heavy fuel oil postings by one dlr a barrel
china raises grain purchase prices
cathay pacific airways 1986 net profit 123 billion hk dlrs vs 7775 mln
in fiscal 1986 ending last january its revenues rose to 879 mln dlrs from 213 mln dlrs the previous year
he must follow a policy that is not entirely his own said another economist
bank of america sees slow us consumer spending
the increasing cases of record production as a result of record yields and better husbandry have forced sugar producers to strive for greater efficiency
qtly div 69 cts vs 69 cts prior pay may one record april 10
the market had been sustained in large part during its recent rally by a virtual conviction that the ruling conservative party would first call and then win a general election early this summer
you must address this problem on the exchange rate side but it cannot be solved on the exchange rate side alone
the iranian platform an unsightly mass of steel and concrete was a three tier structure rising 200 feet 60 metres above the warm waters of the gulf until four us destroyers pumped some 1000 shells into it
unilever declines comment on gillette bid rumours
a san miguel spokesman said he had no comment on cojuangcos court petition adding any statement coming from us might be interpreted as adversarial meanwhile ramon diaz the head of a government panel which sequestered the shares last year said soriano was not eligible to buy the major portion of the shares because he was a united states citizen
when pickens and icahn get together we want people to know about it proxmire said
homestake mining co is considering acquiring more gold ore reserves in addition to the companys exploration efforts chief executive harry conger told in an interview
the official who asked not to be identified dismissed a report circulating in markets today that the interagency trade policy review group had rejected the proposals
barnett banks of florida inc bbf 1st qtr net
the agency cited ecolabs proposed acquisition of chemlawn corp chem for 370 mln dlr
a company spokesman said 1986 results were boosted significantly by the booking of two large orders for nuclear power plants
numac oil nmc sees results improving
inventory was 83422435 versus 81963040 a year ago
the survey found that with the virtual elimination of commissions the improved market liquidity has encouraged investors to deal more frequently in the market
light louisiana sweet crude is now 1935 dollars a barrel the company said
avana shareholders will be entitled to receive and retain the net interim dividend of 525p per avana share for the year ending 28 march 1987
in volume terms gold holdings rose to 551 mln ounces in march from 526 mln ounces in february valued at 75724 rand an ounce for march versus 75459 rand an ounce for february
that was about the first time in seven quarters he said
he said the refinery could run crude as heavy as venezuelas bolivar coastal field bcf 17 api without any difficultiesand would probably move over time to a heavier diet to take advantage of bigger margins
royal resources corp rrco 2nd qtr dec 31 loss
ansbacher said a and p has exciting growth potential particularly on the east coast of the us and has an annual revenue of more than four mln dlrs
sun life assurance profit up
zimbabwe has around two mln stonnes of surplus maize in storage accumulated after two years of bumper harvests
stoltenberg says paris accord policy to continue
industry grew at 111 pct in real terms in 1986 compared with 66 pct in 1985 while agriculture expanded 74 pct compared with 28 pct
the 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
cbt t note options set volume record
repairs are continuing at a stepped up pace on the welland canal and should be completed by the april 1 start up date she added
bundesbank gross reserves rise at march close
the price is to be set on march 4 issue date is march 6 and redemption at par is on september 7
southwestern bell said the stock split is its first
the central bank has issued 708 billion dlrs worth of certificates of deposit cds bringing the value of cd issues so far this year to 9329 billion a bank spokesman told 
the a shares with increased voting rights closed at 450 crowns for the restricted and 455 for the free shares
the warrants are exercisable from may 18 1987 until april 13 1992
bormans inc brf 4th qtr net
bank industry sources say it is an attractive target for large us or foreign banks looking to quickly move into the lucrative california market and the west coast region
the company said the suits allegations are similar to those contained in an earlier federal court suit
buyers were awaiting the opening of brazils export registrations for may shipment which could affect prices for similar qualities they said
japan sets aside yen funds to prevent dlr fall
desoto inc said it sold the plant inventory and certain other assets of some of its industrial chemical operations to plastic specialities and technologies inc a privately held company headquartered in parsippany new jersey
comb cmco to acquire rest of cable value
the regional figures are considered a good guide to national inflation trends
the department said the introduction of higher priced spring merchandise particularly mens clothing was responsible for the advance
danish february consumer prices fall 01 pct
twa said icahn reserves the right to make a subsequent proposal at some future date on the same terms or different terms
it said it expects to complete the note sale on april nine and plans to use up to five mln dlrs of proceeds to buy convertible notes of rayrock yellowknife resources inc
transamerica corp said it will have an after tax gain of about 10 mln us dlrs on the sale of its occidental life insurance co of australia ltd affiliate to pratt and co financial services pty ltd of melbourne for 105 mln australian dlrs
they recalled that under the 1986 program cotton farmers who used part of their crop as collateral for government loans were not responsible for the cost of storing that cotton in government warehouses
and it sets up a council on industrial competitiveness composed of industry and administration members to explore ways to make the us more competitive in world markets
the note is callable at any payment date after the first year
although ashland petroleum and superamerica a retail marketing operation are having a difficult quarter the companys valvoline ashland chemical and coal businesses are expected to report good results for the quarter ended march 31
top us and european farm trade and government representatives called for a sweeping reform of world agriculture to redress a critical demand and supply imbalance
full year results exclude extraordinary and other items which raised final 1986 net to 237961000 dlrs or 187 dlrs per share and 1985 net to 152049000 or 129 dlrs per share
analysts were generally positive on chryslers proposed purchase of its much smaller rival but said they expected the transaction would carry with it a short term dilution in chryslers earnings
shr loss 20 cts vs profit 14 cts net loss 1417000 vs profit 933000 revs 5623000 vs 5403000 avg shrs 6957300 vs 7115248 six mths shr loss 18 cts vs profit 43 cts net loss 1269000 vs profit 3079000 revs 157 mln vs 142 mln avg shrs 7195720 vs 7115248
in atlantic city resorts said in a statement that the class b shares being sold to trump represents 73 pct of the combined voting power in resorts
eishiro saito chairman of the federation of economic organizations keidanren said the yens present rate is well above adequate levels
kentucky central life insurance co said the company said it will declare a 200 pct stock dividend on monday
municipal assistance corp of ny to sell bonds
tenders must be for a minimum of one mln dlrs and non competitive tenders from the public will not be accepted
the dividend is payable may 1 to shareholders of record april 10
marcus mrcs votes 50 pct stock dividend
bank of japan intervenes soon after tokyo opening
romero said a group of ec members led by west germany the netherlands denmark and norway were opposed to the tax
they noted that south africas public investment commission is an active borrower in this area of the market
the khark iii owned by the national iranian tanker co gave the position of the mine as 27 degrees 14 minutes north 5206 east
the claims are located 80 miles northwest of fairbanks
the department of national savings effectively a treasury department unit yesterday suspended its 32nd issue launched in october and paying a high tax free 8 3 4 pct on five year private investments between 25 and 5000 stg
the bank bought bills for resale to the market in equal amounts on april 1 2 and 3 at an interest rate of 10 7 16 pct
westpac banking corp in new zealand said it will increase its indicator lending rate by 15 percentage points to 225 pct from april 7
shr loss 21 cts vs loss 29 cts net loss 1246000 vs loss 1420000 revs 2120000 vs 1186000 avg shrs 5853587 vs 4880427 year shr loss 85 cts vs loss 121 dlrs net loss 4968000 vs loss 5274000 revs 6536000 vs 5056000 avg shrs 5854543 vs 4367864
us and canadian negotiators opened talks last summer aimed at dismantling trade barriers between the two countries the worlds biggest trading partners with crossborder shipments of about 150 billion dlrs annually
the us share of revenues for this year will be about 35 pct rising to 40 pct in fiscal 1988 he said
david hilton chief financial officer said the companys general and administrative expenses in 1987 will be reduced to about 30 to 35 pct of average assets from 43 pct in 1986
some said that the britannia had come too late with the canadian maple leaf the american eagle and other gold coins already well established
31 against 1258 mln dlrs or 343 dlrs a share a year ago
a canada us delegation to promote the seaway to shippers in western europe should result in some increased traffic this season but the full benefits wont be felt for several years blair said
dominion textile which reported operating profit of 111 mln canadian dlrs last year on sales of 9265 mln dlrs has repeatedly said it will concentrate on expanding into the us the company has said it plans to diversify into new product and market areas in addition to expanding its textile operations
if anything it has been exacerbated by recent events the inequities of the international economic environment conspire against the welfare and stability of developing countries petricioli added
carney later told the canadian guidelines are basically compatible with the seven point australian proposals announced in davos switzerland in january
the company said it is continuing talks with piedmont on arriving at a definitive merger agreement and the two companies hope to reach one very shortly
sumita says little room for bank to ease policy
conable said the bank would try to help indonesia find funds to cover its share of development projects which otherwise would have to be scrapped or postponed
audio video affiliates ava 4th qtr jan 31 net
comparable store sales rose 55 pct in 1986 over 1985 it said
merry land and investment co inc said it will offer two million shares of common stock for sale
but sentiment received a much needed boost in september when after a series of piecemeal steps to combat a debt crisis caused by the 1982 crash of local stock market a comprehensive new debt settlement program was introduced
it said the us acquisition adds about 15 mln dlrs to its annual sales volume
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
however a spokesman for the city of london police said he was unaware of such an arrest and could neither confirm nor deny it
atlantis international ltd year loss
canadian seafarers threaten strike
however rico said it would require another five to seven cents to stimulate notable increases in output
yeo said the improvements were needed to cope with an expected growth of ship tonnage and cargo handled by the port but gave no further details
they also said an expected upturn in exports would be a mixed blessing as it would contribute to economic growth but would increase the chance of trade friction
the fiscal year ends december 31
bank building and equipment corp of america said the delaware chancery court denied a stockholders request for a preliminary injunction against an offer for bank building stock made by the company and its employee stock ownership plan and trust
first quarter revenues increased to 112 billion dlrs from 9608 mln dlrs in the prior year
its just disguised cheating one japanese trader said
in the second half of 1986 net earnings were 2297000 dlrs or 29 cts per share
union pacific unp closes venezuelan partnership
cyprus minerals cypm wins coal contract
kaufman board kb units cut quaker ksf stake
tlx partners a group led by asher edelman does not see any problems with its 65 dlr per share bid for telex corp a shearson lehman official advising the group said
bats 1986 figure of 139 billion stg compared with a 1985 pretax profit of 117 billion
someones betting this company will go for 170 dlrs per share said one arbitrager
pressure on tokyo stepped up last week when uk government sources said britain may revoke the licences of some japanese banks and securities firms operating in london when they come up for renewal if progress is not made towards opening japans markets to foreign competition
shr 33 cts vs 60 cts net 11 mln vs 17 mln revs 117 mln vs 106 mln notefull name is suspensions and parts industries ltd
imports last year rose sharply as gross domestic product grew by about 85 pct the highest economic growth level registered in 12 years
glenn said a multinational force could be effectively deployed within 24 hours of a decision
xebec also said it expects revenues to total about 23 mln dlrs
perrin long of lipper analytical said the brokerage stocks depressed somewhat by the dark cloud of the us insider trading scandal closed out february at a market value of 18 times book value
it found that businessmen visiting tokyo spend on average more than 300 dlrs a day
fidelity fnf unit acquires california concern
the emirates industrial bank has predicted a modest economic recovery in the gulf arab states following higher oil revenues
frontier insurance frtr in acquisition talks
statistics canada reported that gross domestic product grew 31 pct in 1986 the fourth year of continuous expansion but down from 1985s four pct
vebas raab karcher raises 1986 operating profit
despite this debtor countries continue to accept the case by case approach and cubas call for a joint negotiating front is not being promoted by brazil or even defended by peru the regions flag bearer in unilateral payment decisions
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
afterwards it may recommend that management make changes in its operations
he said the government wanted to finalise contract extensions as soon as practical and urged the industry in the meantime to maintain its exploration drive
nakasone also said that a joint japan poland economic committee would discuss the proposed conclusion of an investment protection agreement later this year the sources said
the firms properties consist mainly of the taikoo shing residential development and two luxury housing projects
french inflation slowed in february to between 01 and 02 pct against 09 pct in january the national statistics institute insee said
it said it expects to earn 2250000 to 2750000 dlrs for the first quarter of 1987
the central bank of kenya set the shilling at 207449 to the sdr compared with the 206226 rate in force since the last devaluation on march 31
but some dealers said the smaller volume awarded by the pact was in line with present liquid money market conditions and did not exlude a cut in the repurchase pact rate soon to 370 pct if money market rates continue at present levels
without giving breakdowns arango said private exporters had registered 1322804 bags this calendar year up to april 6 or roughly 440000 bags per month slightly lower than the average in recent years
indirect trade between china and seoul is growing but is not officially publicised
nippon life seeking tie with us securities house
government companies are trying to capitalise on a boom in the stock market since 1984 85 sparked by liberal tax concessions and reforms in exchange operations brokers said
bank notes in circulation fell 4402 mln francs to 2448 billion while other deposits on call at the national bank mainly government funds fell 8405 mln francs to 9415 mln
the net rate on the preceding issue was 930 pct
james olin d va the national research council recommended in 1985 that fsis intensify efforts to develop rapid diagnostic procedures for detecting microoganisms
great american recently announced plans to acquire capital savings bank olympia wash and last year acquired home federal savings and loan association tucson ariz and los angeles federal savings bank which resulted in 66 new offices and three billion dlrs in assets
cabot corp said it called for redemption its outstanding 12 1 4 pct notes due november 1 1994 and 10 3 4 pct notes due september 1 1995 aggregating 89 mln dlrs at face amount
iran and the soviet union have provisionally agreed to hold talks on a possible exchange of iranian crude oil for finished soviet oil products an official spokesman said tuesday
ivey properties inc said it raised its quarterly dividend to 18 cts a share from 14 cts and declared both an extra dividend of 27 cts a share and a 50 pct stock dividend
growing protectionism and declining commodity prices had caused a major deterioration in the export earnings of all developing countries he said in an opening speech to a meeting of african trade ministers in addis ababa
on exports china should increase its proportion of manufactured goods especially textiles light industrial goods electronics and machinery he said
golden north resource corp said said surface and underground drilling on the canty project and mascot fraction at its nickel plate mountain property in british columbia returned encouraging gold assays
the left wingers said portugals positive economic results were more the product of favourable international conditions such as cheaper oil and raw material imports than of psd policies
a resorts spokesman said the ksz offer was made in a two page letter and that resorts could not comment on it because it did not contain enough information
he said it would take four or five months to bring operations up to full capacity if the company decides to do so adding that he believes there is a good chance noranda will fully reopen the mine
property firm raises one billion hk dlr loan
thats a very healthy development he added if you asked me about that a year or 18 months ago i would have said that it was terribly protectionist members of congress that is the contemplative members of congress have begun to realise protectionism is not the answer to the 170 billion dlr trade deficit yeutter said
ginnie mae which guarantees securities backed by federal housing administration and veterans administration mortgages had planned to raise the fee march one from six basis points to 10 basis points
qtly div 24 cts vs 21 1 2 cts prior pay may 15 record april 24 note northwestern national life insurance co
the acquisition bring to 228 the number of convenience stores owned by uni marts the company said
credit agricole replaces bnp in hachette tv bid
the mine to be known as the goodall project will be owned 60 pct by wmc and 40 pct by a local wr grace and co gra unit
cash in portfolios usually means short treasury bills which can be readily sold to allow rapid investment shifts
taft said he was prepared to negotiate a transaction in which taft broadcast shareholders would receive in excess of 150 dlrs per share
trace products which manufactures diskette and tape duplication equipment for software publishers had earlier agreed to acquire portland ore based central point for 55 mln shares of its common stock
johsen takahashi chief economist at mitsubishi research institute said the 144 pct increase in public sector spending in oct dec resulted from an issue of gold coins
in the six weeks that followed the japanese yen continued to rise against the dollar despite massive central bank intervention
us factory production of inedible tallow and grease amounted to 4215 mln lbs in february vs a revised 4715 mln lbs the previous month and 4192 mln lbs in the year ago period the census bureau said
country by country production figures are as follows in mln bpd country current february quota algeria 064 064 0635 ecuador 026 026 0210 gabon 015 015 0152 indonesia 116 116 1133 iran 180 220 2255 iraq 175 175 1466 kuwait 115 140 0948 libya 095 095 0948 nigeria 100 114 1238 qatar 018 023 0285 saudi arabia 310 350 4133 uae 110 115 0902 venezuela 150 150 1495 total 147 160 158
the australian dollar fell to a low of 6745 55 us cents today from a high of 6902 thursday
if opec adopts the provisional ceilings of 166 mln bpd in third quarter and 183 mln bpd in the fourth there will probably be room for overproduction in the third quarter when demand for its crude will probably be 175 to 18 mln it said
shr profit two cts vs loss two cts net profit 123000 vs loss 104000 revs 125 mln vs nil note 1987 period includes 112000 dlr extraordinary gain
shr 21 cts vs eight cts net 15 mln vs 536000 revs 266 mln vs 177 mln nine months shr 111 dlrs vs 43 cts net 78 mln vs 30 mln revs 869 mln vs 829 mln noteshares adjusted for 2 for 1 stock split payable may 28 1987 to holders of record may 14 1987
the new inra will enter into force definitively when governments accounting for at least 80 pct of net exports and 80 pct of net imports have ratified it
domtar sets two for one stock split to take effect may 14
lomas and nettleton financial corp said it has agreed in principle to acquire houston discount brokerage firm texas first brokerage services inc for undisclosed terms subject to regulatory approvals
currency moves may be hurting world trade
the increase brings west texas intermediate to 900 dlrs a barrel and west texas sour to 1810 dlrs a barrel
net chargeoffs 150 mln dlrs vs 142 mln dlrs
mobil mob long term debt down in 1986
the central banks weekly auction of foreign exchange to the private sector has been suspended since the end of january pending modifications to slow down the rate of devaluation and dampen fluctuations in the exchange rate
chas
fildes said cetus has shunned licensing arrangements with pharmaceutical companies because it wanted to build its own business
transamerican lawyer john nabors said the company values its total assets including an unused oil refinery at about one billion dlrs
the soviets argue that they are the best customer of the us and that they are entitled to the best price he said
county natwest capital markets is the other co lead manager
chevron chv unit accepts american express
bankers said they were forced to break their word because political circumstances had changed in the past few weeks
im saying thats very short sighted monsod said
the plan foresees the shutdown of some seven mining and metallurgical units on the grounds they are unprofitable
he only recommends one stock however inland which is modernizing steelmaking operations to make them more efficient
rate on the preceding issue mid february was 905 pct
lyng says india food aid package not ready
the foothill group inc said its foothill captial corp unit completed the placement of 23 mln dlrs in senior debt and 27 mln dlrs in senior subordinated debt
poehl said west germany relied on exports for about one third of its gross national product so a substantial erosion of export markets could not be offset by increasing demand at home
standard oil co said a contract has been awarded to cbs engineering inc for a drilling and production platform to be installed in ewing bank block 826 in the gulf of mexico where standard and mobil corp each own a 40 pct interest
cabrera said a 50 mln dlr floating rate note frn issue by colombia is expected to close next month
american president cos ltd said its american president lines shipping subsidiary obtained final approval from us and japanese authorities to lease four new ships from lykes bros co
the shrinking economy has wrought huge changes in the fabric of the kingdoms private sector where poor management had gone unpunished in the easy days of the oil boom
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
greece seeking ec sugar next month at tender
but the scheme had received a guarded reception from the social christian parties in belgiums centre right coalition when verhofstadt unveiled it at a cabinet meeting yesterday
atlantic financial atlfo to acquire s and l
crude petroleum prices rose 44 pct last month after a sharp 197 pct rise in january
purolator courier corps stock rose on specualtion that a disgruntled former purolator director would find a new suitor for the company traders said
it said acme had 1986 sales of over 50 mln dlrs
completion of the proposed transaction subject to regulatory approval is expected in mid july it said
the magazine said however that reagan remained personally popular
daiwa the us unit of daiwa securities co ltd of japan ran the books for a march 11 offering of 200 mln dlrs of 10 year notes of rockwell international corp rok underwriters noted
it also said that if the transaction is approved financial would generate a profit on the sale
stewart and stevenson services ssss 4th qtr
former townsend thoresen navigating officer clive langley said the roro type of vessels were similar in some respects to a barge
the sum of the deal was not disclosed
coopervision has 65 pct of cooper laser zaps 
he accused the us of being irrational he said the us action had made the bilateral chip pact meaningless sabas comments contrasted with those of prime minister yasuhiro nakasone who said tokyo wanted to solve the dispute through consultations
holt noted the rather loose inflation forecast of 40 pct at end 1987 and said the lower interest rates likely to result from the tough fiscal stance could cause longer term concern
us economic data key to debt futures outlook
american fructose corp afc 3rd qtr net
painewebber inc will underwrite the offering
painewebber inc co managed the deal
the department is considering including in its definition of perishable commodities such farm products as tobacco hops spanish reeds and christmas trees while excluding sugar cane the new york times reported yesterday
banking sources noted that vneshtorgbank now has two facilities in the market since first chicago ltd was awarded a mandate last week to arrange a 200 mln dlr eight year loan at 1 8 point over libor
financial results for the nations largest tax preparer are expected to be good in fiscal 1987 but next year could be a bonanza analysts say
the bank also said there were indications the countrys economic recovery was becoming more broadly based
we think they realise they have gone too far one official said
under moodys review for possible downgrade are usair groups baa 1 senior debt and baa 2 subordinated debentures along with the usair units a 3 senior debt and baa 1 subordinated debentures
but the sources said producers who have offered a total of 854000 tonnes of sugar into intervention in an apparent attempt to persuade the commission to set higher maximum rebates have given no formal indication to the commission that they intend to withdraw these offers
a senior official at one of four prospective banks said the ministry told his bank it would give approval as long as the parent firm holds no more than 50 pct of the capital
the energy and commerce subcommitte rejected a plan offered by rep
but bijan moussavar rahmani of harvard universitys energy and environment policy center said that the demand for opec oil has been rising through the first quarter and this may have prompted excesses in its production
hollinger inc will pay about 50 mln dlrs cash for its previously reported acquisition of privately owned unimedia inc chairman conrad black told reporters after the annual meeting confirming a published report
german minister martin bangemann said his countrys steel industry the largest in the ec should not suffer proportionately more than others german sources said
marris expects the fed to act quickly to raise interest rates even at the risk of increasing the debt burden for american farmers latin american governments and others
the price had been reduced to 150 dlrs for the three weeks ending april 3
previously associated with junk bond experts drexel burnham lambert inc gaf said it would finance its borg warner takeover with bank financing
s and p said if michigan generals exchange offer for the debentures is not successful the firm anticipates it will default on the june 1 interest payment and will have to seek protection from creditors under the federal bankruptcy act
asked if south korea would retaliate against us goods if congress closed us markets to its products he said at this moment we have no thought of retaliation south korea is a major exporter to the us of textiles and apparel and electronic goods such as television sets video cassette records and personal computers
wheat estimates ranged from 110 mln to 140 mln bushels compared with 120 mln reported last week and 183 mln a year ago
sandoz corps northrup king co said it bought stauffer seeds a unit of stauffer chemical co
spains principal measure of money supply the broad based liquid assets in public hands alp grew at annualised rate of 83 pct in january compared with 114 pct during the whole of 1986 and a target of eight pct for 1987
but only in britain has there been any suggestion of acting with the us to do something about japans huge trade surplus
indonesia raises stake in aluminium plant
the bass family holds an 11
bicc said in a statement that sales in bicc cables were down on 1985 due to a sharp drop in demand for cable in the oil and chemical industries after the oil price drop
renison goldfields extends lyell copper mine life
mcgraw hill mhp buys harper row hpr unit
baker said the transaction is subject to approval by the justice department and the boards of baker hughes and trico
merrill lynch needham and co and lazard freres served as financial advisors it said
the last poor temporao was in 1984 when prolonged drought and later pod rot cut production to 179 mln bags the lowest since 1974
we are faithfully abiding by the agreement but of course there are some problems a spokesman for the international trade and industry ministry told 
in addition it said it will loan lin 1200000 dlrs to support its operations
oxford industries inc oxm 3rd qtr feb 27
diamond shamrock offshore partners said it has started development drilling on west cameron 178 block off louisiana in the gulf of mexico after a significant natural gas find on the block
vms strategic land trust vlans sets payout
japanese british and us securities houses have been expanding inventories of gilts to meet demand from investors seeking capital gains including city and trust banks which have been active on the us treasury market they said
he told an informal meeting of the general agreement on tariffs and trade the widening gap between industrialized and developing countries and an unfair international economic system were major obstacles to growth in developing countries
charles grassley r iowa would clarify the definition of industry in determining whether or not imports were causing injury to us producers
japan sets condition for car plant loan to poland
shr 51 cts vs 36 cts net 5600000 vs 4000000 revs 1154 mln vs 912 mln nine mths shr 113 dlrs vs 61 cts net 107 mln vs 5800000 revs 3082 mln vs 2495 mlln note 1986 resutls restated on pro forma basis to reflect comparable treatment of budgets leveraged buyout on september 30 1986 and initial common stock offering on may 22 1987
shr 119 dlrs vs 138 dlrs net 1499234 vs 1713941 revs 232 mln vs 103 mln
we need inflation for us producers to compete with foreign producers brusca said prices of electronic equipment dropped 08 pct in februarys ppi
the start up of a swiss futures exchange has some bankers considering if a similar exchange would be useful in west germany
toshibas timing seems most unfortunate for the company as it comes exactly when we are looking for someone to punch one official told 
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
but after five years of economic adjustment latin american debtors are currently unable to raise voluntary credits with the exception of colombia
it should act as a brake because banks will know that if they bid high they will have to pay what they offered a western diplomat commented
before that he was executive vice president finance and administration
reagans statement followed a meeting with his top economic advisers
the sharp rise in the september surplus came from a resumption of export deliveries delayed by strikes the previous month
fruehauf said in connection with the buyout acquisition the predecessor company incurred about 97 mln dlrs in expenses charged against 1986 operations
barringer resources inc barr year end dec 31
nestle sa neszz said it would seek shareholder approval to issue participation certificates up to 20 pct of share capital instead of the current limit of 10 pct
about 13 km of the new link capable of carrying some 50000 barrels per day bpd has been built he said
first it is viewed he said by some as welfare
gatt warned there was a risk of a sizeable increase in the us inflation rate under the combined impact of a rapidly expanding money supply and low dollar
preliminary figures showed refined production outside us lower at 377300 tons in december versus 384000 tons in november
the closest the board came to discussing quotas was a briefing by the guatemalan ico delegate rene montes on a recent latin american producers meeting in managua delegates said
lichtblau president of petroleum industry research associates
reed said he was pleased with the expedited schedule because it provides time for the agency to act on the request before the expiration of the tender offer
pentagon has no information on iran attack rumors
public service enterprise peg 3rd qtr net
it had no meeting scheduled with the other three striking locals which rejected a tentative three year contract saturday cominco spokesman richard fish said
there is also talk of the announcement this week of new measures to adjust the brazilian economy and the ibc could be awaiting clarification before making any move the exporters said
twa also said in the filing with the securities and exchange commission that its chairman carl icahn is the target of an sec probe of alleged violations of securities laws
international time is exclusive distributor of swiss corps tissot watches in the us
in its annual report the company also said it expects to maintain its current annual two dlr dividend on the basis of continued upward earnings
those who contend the strike was necessary must realize their words are easily construed as a tacit endorsement of war with iran said sen mark hatfield of oregon a republican
the company needs the cash to begin paying back a 16 mln dlrs mountain of debt
mesa royalty trust mrt monthly payout
puritan bennett pben makes acquisition
level v wheat barley after 5 14 82 corn sorghum after 7 1 82
shr loss 67 cts vs loss seven cts net loss 2410000 vs loss 245000 revs 110 mln vs 109 mln 12 mths shr loss 21 cts vs profit 43 cts net loss 748000 vs profit 1571000 revs 469 mln vs 405 mln
the proceeds will refinance existing group liabilities it said in a statement
fundamentals are awful said philip lambert analyst with stockbrokers kleinwort grieveson adding that total opec production in the first week of october could be above 185 mln bpd little changed from september levels
karl otto poehl head of west germanys central bank and finance minister gerhard stoltenberg are normally so much in agreement that some foreigners doubt the central banks independence
all sales must be registered and exports completed by september 30 1987 the department said
in a speech prepared for delivery as the united states made plans to protect 11 kuwaiti oil tankers from iranian attack reagan said the american people were aware that it is not our interests alone that are being protected saying that allied dependence on gulf oil was no secret reagan declared during the upcoming summit in venice we will be discussing the common security interests shared by the western democracies in the mideast gulf
the economy may not get a lot better but we expect our advantages in the lumber industry and cost cutting measures to keep us competitive larry kunz chief financial officer said
it reported that its competitive position had weakened considerably in the second half of 1986 leading to a seven pct cut in steel output over the whole of the year to 374 mln tonnes
the rating agency reiterated that it is concerned about the relative levels of risk in the banks widely dispersed asset portfolio
olin oln du pont dd complete plant
kapok corp kpk year sept 30 loss
talks will be extended to tomorrow if there is no breakthrough in todays session he said
ted bates is now owned by saatchi and saatchi the worlds largest advertising agency
it would also have to achieve a better balance between investment and domestic savings if it wants to be able to dispense with foreign capital
the advances were made largely to four banks canadian commercial bank northland bank continental bank of canada and the bank of british columbia
a decision on reprisals is likely to be made by the reagan administration soon they said
argentina has pressed for this solution so far to no avail arguing that the smallest 120 of its 360 bank creditors account for just one pct of its foreign bank debt and that the next 120 banks account only for a further six pct
analysts said the proposals will allow att to cut costs in the long distance unit and increase its profit margins previously constrained by the rate of return
phillips petroleum said it raised the contract price it will for all grades of crude oil 50 cts a barrel effective today
the february rpi was set at 1004 base january 1987
kato said japan will maintain its current level of self sufficiency and will try not to produce surplus rice because potential production is higher than domestic demand
we have heard nothing about this but if brazil has decided not to import maize that is no problem for us as it is not one of our main customers agriculture livestock and fisheries under secretary miguel braceras said
allied asu selling michigan units
proceeds will be used to redeem three outstanding debenture issues and repay two outstanding note issues
they did have a bad effect yes but they only contributed to largely internal economic problems one said
in conjunction with the acquistion circle k also granted it the exclusive right to install video cassette rental centers in all existing 3500 circle k stores as well as in future stores for a period of seven years stars to go said
iranian premier reiterates warning of retaliation
reports of the authorities actions helped the dollar recover to about 14945 yen in new york this afternoon from the post war low of 14820 yen in the far east
icahn led twa was highly conditional usair said its board and that of piedmont aviation inc pie met separately yesterday to consider usairs offer to acquire 501 pct of piedmont for 71 dlrs per share and remaining shares for 15 to 19 common shares each valued at about 73 dlrs per share based on the average closing price of usair common during a period just before the merger
talks are underway between financially troubled zaire and the international monetary fund imf aimed at rescuing the economy of the second largest nation in sub saharan africa
liberalization got underway in may 1985 when foreign banks received bundesbank permission to lead manage mark eurobonds
cbs issues 400 mln dlrs in convertible debt
however reaction here was limited with shorter dated paper ending steady to 1 4 point easier while longer dates dipped by 1 4 to 1 2 point
japanese trade representative tsomu hata told an informal general agreement on tariffs and trade gatt meeting that in addition to demand boosting measures adopted last september a comprehensive economic program will be prepared after the 1987 88 budget is approved
it is still a time for prudence and caution and the companys actions will continue to be based on the fundamentals of market supply and demand he said
net dividend 165 francs vs 150
the state run ecuadorean state oil corporation cepe has named jaime sanchez valdivieso as its new general manager replacing carlos romo leroux a cepe spokesman said
taiwans second quarter imports seen rising
the cbi said the positive balance between firms expecting production to rise and those forecasting a fall at 34 pct was the highest such figure recorded since 1977
but there was no official word on military movements apart from a comment by the government spokesman that the greek navy was no longer in port
separately panteras said it issued an area development agreement with a franchisee group for northeastern colorado including the denver area for the opening of about 20 franchised panteras pizza restaurants
canadas progressive conservative government agreed to impose a 15 pct duty on its softwood lumber exports earlier this year to end a long and bitter bilateral trade dispute with the us axworthy urged the government to present canadas case to world trade authorities under the general agreement on tariffs and trade
moodys said it affirmed the ratings of the bank of america unit because of that banks franchise value significant core deposit base and an expectation of regulatory support if further stresses develop
shr 77 cts vs 37 cts net 135 mln vs 48 mln revs 708 mln vs 608 mln avg shrs 175 mln vs 129 mln note 1986 net includes gain of 18 mln dlrs from sale in dec 1986 of a 50 pct interest in its cellular telephone operations to bellsouth corp
a shareholder group led by far hills nj investor natalie koether said it is reconsidering its plan to seek control of computer memories inc and now plans to sell its entire stake in the company
the severe winter is believed to have resulted in above average winter kill usda said
isuzu plans no interim dividend
we believe that champion products has just begun to evolve into the market leader it will eventually become they said
theres been nothing thats taken place to indicate to me that theres a pressing need on their part for that sort of deal a wheat subsidy when asked if a subsidy would be offered at a us soviet summit lyng said no i dont think so
however before announcing its export policy the ibc is likely to wait to see if tomorrows meeting of the international coffee organisation ico executive board in london decides to call a full council meeting to discuss reintroduction of export quotas sources said
manufacturers hanover trust co became the third major us bank to increase its prime rate to 7 3 4 pct from 7 1 2 matching a move initiated yesterday by citibank and chase manhattan
the meeting was called after reports that warships of both countries were sailing towards a disputed oil exploration zone of the aegean
an important exception would be its securities business which would grow more slowly
ended february shr 69 cts vs 66 cts net 377 mln vs 349 mln revs 2558 mln vs 2888 mln avg shrs 547 mln vs 532 mln 12 mths ended feb shr 323 dlrs vs 317 dlrs net 1748 mln vs 1663 mln revs 14 billion vs 15 billion avg shrs 541 mln vs 524 mln
campeau separately announced that as required by a bank agreement it has contributed an additional 50 mln dlrs of capital to allied
owens illinois oi extends brockway brk offer
colonial american bankshares corp cabk 1st qtr
she said the government was determined not to intervene to influence production decisions by oil companies operating in the north sea
minority shareholders in the consortium include the gmf fnac group societe generale sgenpa editions mondiale the groupe bernard tapie financiere faltas banque indosuez and credit lyonnais crlppa the remaining 50 pct of tf1 is to be split between a 40 pct stake to be offered to the general public and a 10 pct stake to be offered to employees
the european community authorised the export of 25000 tonnes of barley yesterday bringing the cumulative total at weekly tenders since the series started last june to 333 mln tonnes close to the 337 mln under licence in the same year ago period traders said
but the group did not strongly back either option saying there were benefits and drawbacks to both
stoltenberg says meeting with baker underscored monetary cooperation
natures bounty inc nbty year loss
each eight year note of a 50000 franc face value has 15 warrants two of which entitle the holder to acquire 100 grams of gold at a price of 2350 francs
the thrust has shifted to those newly industrialized countries nics amid signs the dollars steep drop against the currencies of japan and most ec nations previously the main focus of the us drive to cut its trade gap is beginning to close the competiveness gap for american goods
multi step products inc six mths dec 31 loss
he told al riyadh newspaper saudi arabia follows a balanced petroleum policy
mcivor said 37 of the worlds 30000 oil fields contain about 35 pct of all oil ever discovered
mcfarland mcfe to buy petrominerals ptro 
a build is seasonal now and not out of line with last year one futures analyst said
antonovich inc said an initial offering of 750000 class a common shares is under way at 9625 dlrs each through underwriters led by evans and co inc
finance minister kiichi miyazawa told parliaments lower house finance committee that the us is expected to intervene in the foreign exchange market to stabilise exchange rates political sources said
mthly div 65 cts vs 65 cts prior pay march 31 record march 16 note franklin california insured tax free income fund
companywide williams had a net loss of 134 mln dlrs on total revenues of 185 billion dlrs a decline from profits of 32 mln dlrs on sales of 246 billion in 1985
to date icn said it bought a total of about 12 mln shares of viratek including the shares purchased from kodak
under this phase originally due to have started two years after the ems was set up decision making was to have been transferred from national governments and central banks to an autonomous european monetary fund
the firms robert h
company said any portion of this amount including related interest or attorneys fees would be proportionately reflected as a reduction in its minority interest of sealy recorded on its consolidated balance sheet upon final settlement of litigation
the practice of other governments using tied aid or mixed credits to promote exports has cost the united states lost jobs and lost exports the treasury said
it is under separate administration from the tanzania zambia railway linking dar es salaam with the zambian copperbelt and the railway system of southern africa which has already received substantial aid as part of international efforts to ease the dependence of landlocked african states on trade routes through south africa
last week iowa beef said it would lift a lockout in effect at the plant since mid december which affected 2800 members of the united food and commercial workers union
it was one of the many options we offered the banks in order to win an attractive pricing he said
40 miners trapped by fire in gaspe copper mine
imports were 261 billion dlrs against 253 billion in february and 196 billion in march 1986
we also announce today that these missiles are not the limit of our war capabilities in the gulf he added
volume reached 38402 contracts up from the previous record of 16349 contracts set april 9
the bank said non accrual loans totalled 33 billion dlrs at april 30 15 billion in domestic loans and 18 billion in international loans
a plan by european producers to sell 854000 tonnes of sugar to european community intervention stocks still stands andrea minguzzi an official at french sugar producer beghin say said
imports in the fourth quarter totalled 26361 billion lire down 14 pct from the 1985 fourth quarter and down 66 pct from the third 1986 quarter istat said
solomon said the dollar must fall further to compensate for the huge interest payments required on us foreign debt
he said a more important factor was the speed of growth in the us adding its the largest industrial market in the world but he said the company would also be looking at possible acquisitions in europe
sales activity in soybean oil resulted in decreases of 4400 tonnes as reductions for unknown destinations more than offset increases for canada the dominican republic and panama the department said
sterling along with the other high yield currencies like the australian dollar and canadian dollar was in favor after traders surmised that the the chance of intervention pursuant to the paris currency accord left limited room for profit plays on dollar mark and dollar yen
the minerals systems business has operations in west allis wis and lachine quebec canada
first federal savings and loan association of kalamazoo is full name of company
in december m0 grew by a seasonally adjusted 14 pct and by a non seasonally adjusted 52 pct year on year
bank of nova scotia to apply for tokyo listing
the acting governor of saudi arabias state owned oil company petromin jamal hassan jawa has retired at his own request oil industry sources said
finance units gain from parent company says s p
more than 100 applications for licences are pending
they expected the amount to total around 15 billion to two billion dlrs
earnings from subsidiaries through profit transfer agreements 4942 mln marks vs 542 mln
shr 68 cts vs 61 cts shr diluted 66 cts vs 60 cts net 186 mln vs 165 mln avg shrs 275 mln vs 266 mln nine mths shr 140 dlrs vs 176 dlrs shr diluted 138 dlrs vs 171 dlrs net 389 mln vs 469 mln avg shrs 274 mln vs 258 mln note share adjusted for july 1987 10 pct stock dividend
pentagon officials said the platform had been used as a base for iranian raids against shipping in the lower gulf
in comments at a news conference of vontobel holding ag chairman hans vontobel said he believed it was up to the banks own self regulating bodies such as the swiss admissions board to take such action before governmental bodies stepped in
bundesbank sets new repurchase tender
anthony cordesman author of a new book on the iran iraq war said the united states apparently chose a limited target to keep alive the possibility that un secretary general javier perez de cuellar might still persuade iran to accept a security council call for a ceasefire
the beijing santiago copper tube co involves an investment of 993 mln dlrs and will on completion have a production capacity of 5000 tonnes of copper tubes a year it said
national beverage corp said it agreed to acquire privately held faygo beverages inc for an undisclosed amount of cash
a hong kong trader estimated stocks at more than three mln at end january
about 60 pct of japans crude oil passes through the waterway
the companys debt to equity ratio will rise 11 or 12 percentage points from the current 33 pct if the offer is completed chase said
in a filing with the securities and exchange commission krupp said companies he controls and kappa acquired a combined 292000 radiation system shares or 525 pct of the total
in addition to shares sought in the tender shareholders of bpi owning 1951720 shares or 346 pct have agreed to sell their shares to computer associates for the tender price
i dont think the louvre is dead because if it breaks up in an acrimonious way the potential outcome is a rout of the dollar higher interest rates and collapsing stock markets
in guilder terms however profits at the pre tax level dropped three pct to 369 billion from 381 billion
fees are 1 1 4 pct for selling and 5 8 pct for management and underwriting combined
canrad inc said it acquired the measurement systems division of page wilson corp for an undisclosed amount of cash
wisconsin electric power co said it began a public offering of 700000 shares of serial preferred stock 6 3 4 pct series 100 dlrs par value at a price of 100 dlrs per share
these factors raise the question is there enough strength to keep the economy from tipping into a recession said lyle gramley chief economist of the mortgage bankers association and a former federal reserve board official
it said other group members include jacksonville fla businessman jack c
in addition to attar the nominees are stephen l
the french electricity utility electricite de france is issuing a five billion french franc bond in three tranches co lead manager banque paribas said here
details of the requirements in the agreement were not immediately available
pentair inc said it began a public offering of two mln shares of 150 dlr cumulative preferred stock priced at 25 dlrs per share
britains department of trade and industry is investigating the takeover
american motors corp said its directors met wednesday to review the takeover proposal which the corporation received monday from chrysler corp c amc said its board has retained independent investment and legal advisers and expects to meet periodically over the next several weeks on the proposal
analyst thaddeus paluszek of merrill lynch and co said fleets earnings would have been diluted about two pct in 1986 on the basis of the merger terms announced today
the revisions also indicated personal consumption spending decreased 22 billion dlrs in the fourth quarter after an increase of 396 billion dlrs in the third quarter
inertia dynamics corp said it declared a 50 pct stock dividend payable may 1 to shareholders of record april 3
corroon and black corp cbl raises quarterly
the encor shares do not pay dividends
ec us plan high level trade talks
cme sets may 29 start for lumber futures options
fiscal 1986 net includes extraordinary charge of 35 mln dlrs or six cts a share
corning said the prospectus regarding the merger is expected to be mailed tomorrow to all hazleton holders of record february 18
rain will accompany the strong winds that are expected over the north sea today into tonight
no further details were immediately available
israel minister sees increased exports to us 
crude oil will be used more and more as a transportation fuel and natural gas will be used more to generate heat as an industrial fuel he added
the twice weekly flights to the saudi capital will fill a hole in its middle east network it said
the company said its agreement to merge into dixons does not permit it to provide nonpublic information to cyacq which is making a competing offer for cyclops that had been provided to dixons
early redemption will not be allowed
idb approves trade project loans to members
france sets 95 billion franc t bill tender
the sunflower harvest moved forward in the centre and south of cordoba and santa fe and got underway in a few isolated areas of northern buenos aires
delegates from all 43 asian member countries of the g 77 are expected to attend the later meeting
shearson sells new cds for japanese banks
peat marwick and nolan norton to merge
after two private sessions last august and on march 10 they agreed the meetings should continue
shr 54 cts vs 51 cts net 2151000 vs 2439000 sales 903 mln vs 968 mln avg shrs 3960000 vs 4782000
last month lear siegler said it planned to sell its smith and wesson handgun business starcraft recreational products ltd the peerless truck trailer operations and other units as part of its restructuring plans
but as their equity capital is fairly small tight lending ratios will severely hamper foreign banks freedom of movement particularly in the growing business of currency swaps if they are required to include more transactions in the balance sheet the sources added
the administrations decision to set the subsidy level up front instead of accepting bids from exporters appeared to be a means of controlling the price while attempting to dampen criticism grain trade sources said
that business accounted for 196 mln dlrs of the companys 1985 revenues
bass plc bassl and horizon travel plc said terms have been agreed for an offer worth around 948 mln stg for horizon by bass
mark eurobond issues fall in second march half
sterling remained firm around 159 dlrs compared with its close here on friday at 15865 dlrs
it did not elaborate on what common share dividends might be paid
becor had previously agreed to sell western gear for at least 110 mln dlrs and to be acquired by bcw acquisition inc for 1045 dlrs in cash and four dlrs in debentures per becor share
three united steelworkers of america locals on strike at cominco ltd rejected a tentative three year contract a union representative said
but he said the opposition parties should be careful not to raise false alarms too early the case now goes before the us commerce departments trade division to determine if a duty should be imposed
prime minister margaret thatcher late last year said a decision on whether or not to join depended on the strength of the uk economy
moodys investors service inc said it may downgrade todd shipyards corps 110 mln dlrs of debt
the companys superstar video business which rents video cassettes in supermarkets continues to operate at an expected loss the company added
gencorp spokesman rip tilden said the company will retain about 100 mln dlrs in liability for its former general tire employees under the agreement
federal funds opened at 6 3 8 pct and eased to 6 5 16 pct in early trading
american can issuing 150 mln dlr convertible bond
the company said mark iv currently owns at least 176 pct of baird stock and has indicated that it may attempt to acquire baird
analysts however believe heyman would sell off assets he did not want to repay debt from the transaction
rank organisation plc rankl said trading in the current year had continued satisfactorily taking into account seasonal fluctuations
one dealer said the central bank bought about 200 mln dlrs through brokers and the rest through banks
in fact the line of credit guarantees for tallow is available only for public sector importers walter stern foreign agricultural service turkey analyst said
the 0889 divisor means that a change of 1 8 125 cts in the price of a component produces a change of about 14 cts in the index
one official said egypt would propose a new exchange rate for trade with the soviet union
iowa beef processors inc said hundreds of its employees returned to work at its dakota city nebraska beef processing plant without incident
the plan presented by icco executive director kobena erbynn represented a compromise between producer european community ec and other consumer views on how the buffer stock should operate they said
volcker says brazil debt move will not hurt banks
qtly div 12 cts vs 10 cts prior pay april 24 record april one
yeutter is in new zealand for a two day informal meeting of trade ministers who are reviewing the uruguay round of the general agreement on trade and tariffs gatt he said he will meet the japanese delegation over the next few days but declined to discuss methods of relieving the strain between the two countries
genentech inc said activase its tissue plasminogen activator will be reviewed at the a regularly scheduled may 29 meeting of the food and drug administrations cardiorenal advisory committee
deutsche bank ag dbkgf has agreed to take over the outstanding 25 pct in deutsche bank asia ag the former european asian bank ag from creditanstalt bankverein cabvvi deutsche management board joint spokesman alfred herrhausen told a news conference
the association backs current bills of rep
the legal status of yen cp would be the same as yen commercial bills and it would be placed by an intermediary bank or securities house securities managers said
the stock market has come a long way in a short time
the company declined to say how much the cost savings would amount to
secretary of commerce malcolm baldrige expressed concern about the continuing us trade deficits with south korea and taiwan and said that without an adjustment in exchange rates there is little likelihood of improvement
canada february unemployment falls to 96 pct from january 97 pct statistics canada said
it said other provisions dixons will not waive include its rights to recover breakup fees or expenses from cyclops or buy cyclops common shares from cyclops
w germany bolivia sign two cooperation pacts
the sale is effective from tomorrow they said in a joint statement
economists polled by said that m 1 would be anywhere from down two billion dlrs to up 18 billion
he also said the first 250 mln dlr tranche of a one billion dlr loan from the japanese government to support steel oil and export promotion will be disbursed at the end of the month
madeira in letter of intent to be acquired
advanced telecommunications corp itel said it called for the redemption on april 10 1987 of all its eight pct convertible subordinated debentures due 2006
payment date is march 17
indonesia bought 162500 tonnes of raw sugar on world markets in late 1986 the report said
he estimated that brazils yearly interest payments to canadian banks totaled about 575 mln dlrs or about 10 pct of their total 1986 pre tax earnings
the discount rate has been the markets penalty rate rather than a guiding rate since 1985 and its advances are currently little used as liquidity is ample bank economists said
to avoid another costly inflation and disinflation the somc urged the fed to abandon its inflationary policy and set the growth rate of the monetary base on the path toward sustained lower inflation the fed in february said it would no longer target the narrow m 1 money supply because the link between m 1 and economic growth has been largely severed
hutton is offering 35 dlrs cash per share for 83 pct of the shares
the sources said japanese trading houses were seen covering a total of 500000 tonnes of chinese corn for shipment in may to october
eib issues 300 mln danish crown bond
canadas clark sees trade as most urgent problem
the securities industry association sia has asked the us supreme court to overturn a lower court ruling that would allow banks to sell commercial paper sia general counsel william fitzpatrick said
information to be released will include the amount of stock allotted in terms of both competitive and non competitive bids and the highest lowest and average price of the successful bids
lindner says he discussed control of taft tfb 
prime minister branko mikulic warned in february that wages were too high given the level of productivity
oesterreichische draukraftwerke sets sfr bond
liberty said it feels that the price of 48 dlrs in cash per share is attractive and that it has advised by shearson lehman brothers that the price is fair
he said a total of 76 ships were either waiting at anchor on moored in the harbour
the rating agency said an increase in sosnoffs offer is possible
telxon recorded revenues of 242 mln dlrs for the quarter last year and earnings per share of 22 cts adjusted for a three for two stock split in may 1986
all deliverable shapes of aluminium under the high grade primary aluminium contract minimum 997 pct purity will also be deliverable against the standard primary aluminium contract min 995 pct the lme said
fees from trust and other banking services rose to 1465 mln dlrs from 1293 mln a year earlier chemical said
dtd enterprises inc in reorganization
aid corp aidc raises quarterly dividend
shr one ct vs nil net 9949000 vs 3799000 revs 155 mln vs 135 mln
but if the soviets are worried about their winter crops and if they feel that last years huge crop of 210 mln tonnes was a one time fluke brought on by perfect conditions more soviet buying might occur to insure crop supplies he said
but it said this differential between the growth of domestic and foreign demand would reverse in 1987 and 1988 thus weakening the international adjustment process it forecast a slowing in domestic growth to little over two pct but with a rise in exports of 33 pct in 1987 and 36 pct in 1988
he declined comment on local press reports which said the ministry would back a plan aimed at cooling british anger on the issue
gardini told the operation under consideration was aimed at international markets and that the figure of 400 mln dlrs given in some press reports was probably about right european sugar wholly owned by ferruzzi unit eridania zuccherifici nazionali spa erdim is expected to absorb the european corn wet milling business of cpc international inc cpcn which ferruzzi recently agreed to buy
the producer price index for finished energy goods has fallen 209 pct in the past 12 months
analysts see this pressure as the main hope for lower interest rates as the government is expected to try to reverse the loss of export competitiveness caused by a strong pound
saur said klaus saur president and owner of the company will remain president of saur operations in munich london and new york
shr 80 cts vs 79 cts net 4212000 vs 4142000 sales 1111 mln vs 1071 mln
usda undersecretary daniel amstutz yesterday said the soybean situation is a dilemna which has been studied extensively by the department
producers want the council to have the last word and have resisted reducing its role in the price adjustment procedure
tesco plc tscol said county bank ltd had bought 165000 shares in hillards plc on its behalf increasing its stake to 54 pct
the 54 member contact group was examining a colombian proposal to resume quotas april 1 under the ad hoc system used historically with a pledge to meet again in september to discuss how quotas would be worked out in the future they said
total west german exports to western industrialised countries also fell in january to 3476 billion marks from decembers 3645 billion also posting the lowest monthly total since july 1984
the banks are national bank of north evanston elgin national bank first national bank of schiller park and merchants and manufacturers state bank in melrose park
heyman owns about 2700000 of gafs 335 mln shares outstanding
qtly div 17 cts vs 17 cts prior pay may five record april 20
the cooperation agreement has resulted in concerted central bank intervention of 8 billion to 9 billion dlrs to halt the dollars fall
he told the 8th antwerp oils and fats contact days that in the next oct sept 1987 88 season palm oil use will rise to 825 mln tonnes from 771 mln below the five year average increase of 550000 tonnes
these were programmes they thought were necessary to stabilise market conditions and to help themselves attain better pricing conditions nazer said
1985 includes loss from foreign affiliates of 173000 dlrs
german wholesale prices fall 04 pct in february
while net effect on the company will not be known for several months because of the time lag in deferred earnings end users especially residential and commercial customers will end up paying more for gas he said
purchase and delivery of the silver to placer will result in an after tax gain of about 66 mln dlrs equity said
the competitiveness between different oils whether ec produced or imported would remain unchanged and quantities imported from third countries would not be affected by the tax tanghe said
and he said environmental considerations will play a larger role in the evaluation of proposed projects
i have to consider whats been presented and issue an opinion on this
lear siegler said it plans to retain management services corp engaged in aircraft maintenance modification for various department of defense agencies
but it had great confidence in prospects for future growth
swiss sight deposits rise 7437 mln francs
lindner was unavailable for comment
the uruguay meeting is considered by most countries to have been particularly successful with northern hemisphere countries managing to have service industries such as banking and insurance included in the next full round
it also wanted a reprogramming of already approved loans an apparent reference to the disbursement schedule of thee credits
a group of ecologists staged a demonstration to protest argentinas plans to build a fourth nuclear power plant and a german companys role in the project as a contractor
but a matsushita electric industrial co spokesman said a rapid increase in imports was not likely
it also said that if more than four mln shares are tendered it will pay for them on a pro rata basis
argentina has threatened to emulate brazils payments moratorium if the banks do not grant its request
in the fourth quarter it offered 30 mln shares of stock raising about 650 mln dlrs
shr 57 cts net 6889000 vs 107 mln nine mths shr 167 dlrs net 201 mln vs 229 mln assets 163 billion vs 147 billion deposits 117 billion vs 119 billion loans 125 billion vs 9365 mln note 3rd qtr and nine mths 1986 per share figures not available because bank converted to stock form nov 28 1986
the price increase brings west texas intermediate the us benchmark grade to 1900 dlrs a barrel
the non callable bond is guaranteed by mutual life insurance co of the us and is available in denominations of 5000 dlrs and will be listed in luxembourg
discovery west plans convertible note issue
regis corp rgis regular dividend set
hernandez grisanti told reporters after the cabinet meeting that pdvsa will pay 93 mln dlrs for its half ownership in the champlin refinery 33 mln dlrs in cash and 60 mln dlrs crude oil and products
as in the present accord the may buy and may sell levels are set at plus or minus 15 pct of the reference price and the must buy and must sell levels at 20 pct of it
the company said last december its would sell the units by mid 1987
earlier today in washington us television networks had reported that american forces launched a retaliatory strike against iran late sunday attacking two iranian offshore oil drilling platforms and setting them ablaze
one month is 2 1 4 pct two months 2 1 2 pct three and six months are both three pct nine months 3 1 4 pct and 12 months 3 3 4 pct
i intend to visit brussels and talk to whoever is putting up this devilish scheme to impoverish third world countries like the philippines romero said in an interview
this yielded an annualized 88 pct rise over the six month to february up slightly from an 86 pct increase over the same period to january
mead mea sells debentures at nine pct
oper shr loss 49 cts vs loss 10 cts oper net loss 3014000 vs loss 656000 revs 227 mln vs 236 mln 12 mths oper shr loss 19 cts vs profit 40 cts oper net loss 1142000 vs profit 2476000 revs 933 mln vs 990 mln note qtr 1986 and prior qtr excludes loss discontinued operations 2441000 and 4078000 respectively
i think its clear that in cancelling its agreement with fujitsu schlumberger has signaled that it has another deal in the works said paul johnson a semiconductor analyst with lf rothschild
bangor hydro electric co bang sets dividend
there was only sporadic activity for spot material which was mainly requirement buying they said adding that pre registered coffees were no longer available
consolidation coal got the option from the capco group of utilities which received the option from nacco in 1981
1986 net both periods excludes 400000 dlr tax credit
he said foreign trade law should be judged by gatt and not by the united states adding if the trade law is to be interpreted by the united states and not by the gatt what is to happen to the rest of us
basically the ruling wants to limit the tax credit a bank can claim for tax withheld by foreign governments on loan interest payments
gencorp gy fixes rights separation date
the company yesterday paid a quarterly cash dividend of 2 1 2 cts a share unchanged from the previous quarter to shareholders of record february 20
dome reported earnings yesterday
however non accrual loans declined 130 mln dlrs from fiscal 1986 year end
colonial bancgroup clbga buys farmers
japan denies plans to cut duties on chocolate
china international trust and investment corporation citic would have 75 pct of the equity in bohai aluminium industries ltd the company to build the rolling mill and extrusion plant on the northeast china coast they said
i am very impressed with the strong basic earnings story analyst smith said noting that the company has fine tuned its buying and inventories and has admirably controlled costs in a time that they needed to the stock jumped 2 1 2 to 98 3 4
it may slow the pace of japanese acquisitions but the necessity of expanding their production and design capacity in america remains said capels murtha
a lot of it has not been put to use
uscongressman to see reagan on gulf reflagging
they told they expect the firm to show earnings of between 420 mln and 450 mln hk dlrs last year against 157 mln in 1985
granma said rainfall over the past year has been less than 50 pct of normal precipitation
german research institute lowers growth forecast
the coupon has been fixed at 5 1 4 pct compared with the indicated range of 5 1 4 to 5 1 2 pct
s p may downgrade chrysler c 
uk money market deficit forecast at 450 mln stg
the hotel is being developed on a contractual joint venture basis between an unnamed hong kong chinese investor and suzhou municipal entities
adams russell co inc said it agreed to acquire cable television systems serving about 7000 customers in new york state from sammons communications inc for undisclosed terms
channon said japans trade surplus is causing everyone problems its surplus with the united states last year was 515 billion dlrs and with ec nations 167 billion dlrs
on the subject of acquisitions richard munro chairman and chief executive said the company is not interested in investing in over the air broadcasting but continues to look at all areas in which it is currently engaged
employers organization chairman jacques schoufour accused the fnv of intransigence in refusing to alter its stance at all over the past two months
shr 152 dlrs vs 137 dlrs net 1445 mln vs 1273 mln revs 9098 mln vs 8247 mln avg shrs 951 mln vs 929 mln 12 mths shr 462 dlrs vs 405 dlrs net 4359 mln vs 3721 mln revs 328 billion vs 294 billion avg shrs 943 mln vs 918 mln
domestically mhi is involved in 12 national projects including development of nuclear fusion reactors and launch vehicles for man made satellites
henderson said the new us drug concern would basically act as a second sales force to double the exposure of its drugs to doctors
market sentiment has fluctuated in recent weeks
api an industry group said that of the 42387 wells completed last year a total of 19741 were oil wells 8645 were natural gas wells and 14001 were dry holes
the company said it has also signed an agreement for wright engineers ltd of british columbia to recoup the cost of its services to stansbury by converting warrants
next plc nexll five months to end january
michael farren opposed language in the trade bill before congress to limit foreign takeovers of us companies
concurrent with the debenture offering lyphomed said it plans to sell an additional 30 mln dlrs of debentures in fujisawa pharmaceutical co ltd which currently owns about 30 pct of the companys common stock
in testimony today tom cook director of industry affairs for the national cattlemens association said the congress administration and the industry must take a strong tough and united stand to impress the japanese that we mean business and that we expect them to open their markets
petrobras said the saudis had been advised that if they did not change their mind by monday petrobras would negotiate the purchase of oil with other producers
mercantile stores co inc 4th qtr shr 326 dlrs vs 317 dlrs
otherwise the meeting was occupied with internal administrative matters delegates said
treasurer paul keating forecast economic growth at slightly under two pct in the financial year ending june this year down from the 225 pct forecast contained in the 1986 87 budget delivered last august
the department said it was the largest monthly sales drop on record
in 1986 the company earned 175 dlrs per share
coffee traders expect selloff after ico talks fail
corn and soybean basis values continued to drop on the illinois and midmississippi river due to the strong barge freight rates
but us officials held out little hope that any accord could be reached before the tariffs of 100 per cent up from about five per cent are to take effect on april 17
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
this year easter is being observed on april 19 which is three weeks later than last year
the us which holds a 345 pct stake in the bank has proposed lowering the veto power to 35 pct a move strongly opposed by latin countries which together hold 542 pct
the lifting of the ban imposed earlier this year follows government concern over lower than average rainfall in southern ghana and its implications for the major harvest botchwey said rain has been lacking in major cereal growing areas throughout the south this year
current year net includes tax credits of 3205000 dlrs in quarter and 7305000 dlrs in year
usdas amstutz confident of ec oils tax defeat
certain difficulties have arisen this year in the machine building industry
the plant would supply manufacturers of pvc construction and other materials in eastern canada and the northeastern us government officials said
the securities are available in denominations of 5000 dlrs each
under the agreement concluded last november between waterman owners francine and grace le foyer gomez and alice lundgren and the gillette group gillette agreed to acquire 512 pct of the capital of waterman at 700 francs a share
argentine soybean yield estimates down further
gold is expected to continue its rise this year due to renewed inflationary pressures especially in the us hamburg based vereins und westbank ag said
the markets were telling us be careful
did people really expect a patent remedy he asked
countrywide transport cwtso 3rd qtr net
without one they will suffer if the present market stays like it is muda said
for the next two weeks sloan calls for september yen futures to advance toward the 0007200 area
but of course weve had reassuring signs from the japanese for quite some time he added
the cut is the second announced by the bank in the last week following a cut from 185 pct effective last monday
progressive savings has ten branches in southern california and about 500 mln dlrs in assets
advanced also said it has named executive vice president steven b
universal said its universal furniture industries nv unit bought 235750 bench craft shares march 4 in the over the counter market
this weeks rains have alleviated drought conditions in guangdong province the agency said
a transworld airlines inc official said the airline has no comment on usair group incs planned buyout of piedmont aviation inc
the proposed 757 mln dlr deal under which chrysler corp would acquire american motors corp was described by analysts as a reasonable deal for both companies
if they go too fast there could be another bust two years down the road businessman raul concepcion whose brother jose is the countrys trade and industry minister said everyone could heave a sigh of relief
the company a maker of mobile homes said it terminated merger discussions with nursing centers of america river oaks said it will place a 26 mln dlr convertible note with seizer who in turn will name six additional members to the companys five member board
it gave no further details
there will be some impact on the real economy but it wont be that big said another
equity silver had retained earnings of 2312000 dlrs at december 31 1986
yellow freight system yello 3rd qtr net
personal computer products pcpio expects loss
moodys investors service inc said it downgraded the ratings on six billion dlrs of debt of merrill lynch and co inc
weyerhaeuser wy sees higher 1987 earnings
the paris agreement was aimed at stopping a further rapid fluctuation of exchange rates he said
no further interest will accrue on the notes after the redemption date
brown group bg debt downgraded by s p
nippon mining co ltd said it lowered its selling price for electrolytic copper by 10000 yen per tonne to 260000 effective immediately
lowes cos inc low 4th qtr jan 31 net
the bonds will be sold in denominations of 1000 and 10000 dlrs
us home uh in new credit agreement
hamburgische lb issues 50 mln canadian dlr notes
and indeed note traders said the frn portion of the repackaged securities which westpac has offered to redeem for cash in 15 years does have real value
these sales show up as 4942 mln marks from profit transfer agreements and 3265 mln from writing back risk provisions
told a meeting of financial analysts
whether were going to do something i dont know he said
payment date on the issue if april 15 1987 and the first coupon will be short
bonds will be issued in denominations of 5000 dlrs and will be listed in london
mines and energy minister subroto confirmed indonesian support for an extension of the sixth international tin agreement ita but said a new pact was not necessary
gaf holds 199 pct of borg warners shares
holders will also vote on a proposal to create a new class of 25 mln shares of serial preferred stock one dlr par value in place of its existing classes of authorized and unissued preferred stock
id be surprised if supply pushed us out of it the trading range lacey said
dealers in oil markets were now waiting to see if opec was able to control production or whether the days of cheating and producing over quotas has begun anew it said
a clear difference between the pressures already being felt by importers and exporters was that consumers would have been happy to agree on a formula for future quotas even if it could not be imposed now
it is interesting to note that the first two asset backed deals of the year were done by commercial banks said anthony dub who heads first boston corps asset backed group
the ec is anxious to avoid provoking a trade war they said
contract price will be quoted per hundred weight with a minimum price fluctuation of one cent and maximum fluctuation of one dlr per cwt
the trip is set for april 6 8 the state department said
it said prior year comparisons were thus not applicable
one major french bank said it bought between five and 15 mln dlrs for the central bank and sold yen at 14928 to the dollar
brazilian coffee institute ibc president jorio dauster said he will not attend the ico executive board meeting and was surprised to hear that a report of his absence had a slightly depressing effect on the new york coffee market today
the value of colombian exports other than coffee rose 55 pct in january compared with the same period last year apparently setting a trend for the trade balance in 1987 government statistics institute figures show
those who supported us today can be sure that mexico will continue to be open and willing to share with them the business opportunities which its future growth will create petricioli said
public service co of colorado psr in payout
the moderate rise in economic growth next financial year should be sufficient to sustain employment growth at a level broadly equivalent to that of the current fiscal year
foreign earnings were hit by the lower dollar and temporary payment difficulties by clients
crude oil imports in the week rose to 366 mln bpd from a revised 267 mln api added
shr 2789p vs 2424p div 90p vs 775p making 1375p vs 120p turnover 126 billion stg vs 119 billion pretax profit 546 mln vs 465 mln tax 165 mln vs 135 mln interest paid 22 mln vs 24 mln minority interests 23 mln debit vs same extraordinary items 423 mln profit vs 54 mln loss pretax profit includes agribusiness 283 mln vs 225 mln health products 65 mln vs 54 mln wholesale food distribution 83 mln vs 73 mln retail food distribution 42 mln vs 59 mln uk 287 mln vs 272 mln us 211 mln vs 161 mln
this was gradually cut to 285 pct because of intense demand saving the issuer money in financing costs
this official said there was not a significant amount of pressure being exerted by lawmakers on lyng to make an eep offer to moscow
it said it planned to spend some 15 mln stg on refurbishing its odeon cinema chain and the rank film distributors unit was committed to spending 20 mln to secure international distribution rights of films
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
under the settlement announced today federal prosecutors agreed to defer all charges against wiggins and three other defendants under a one year pretrial agreement
what we want is to make sure newfoundlanders and british columbians and albertans and others that they get their chance
qtly div 73 cts vs 73 cts prior pay march 31 record march 16
scrap crepe prices firmed on good shortcovering demand at the colombo rubber auction brokers said
bhpgm will pay 440 mln dlrs for bhps gold interests excluding its stake in papua new guineas ok tedi mining ltd and those interests held by bhps utah international inc the bhp statement said the issue will be made to shareholders registered on march 27
we are seeking a negotiation that will give the country space to grow because only with growth will we be able to meet our commitments gros said
usx corp chairman david roderick said the company had ended talks with british petroleum co plc bp about the possible sale of some energy assets and said usx has no immediate restructuring plans for its oil businesses
as with the 65 previous eep initiatives the export sales would be subsidized with commodities from the inventory of the commodity credit corp and made at competitive world prices usda said
privately held clayton and dubilier inc said it has sold w
non callable for three years the issue is rated ba 2 by moodys investors service inc and bbb by standard and poors corp
under the joint venture each company owns 50 pct of sprint
graco inc ggg votes quarterly dividend
spokesman for armco inc as and bethlehem steel corp bs said the proposed price hike was under study
the facility to be guaranteed by british petroleum co plc bpl is probably the largest credit facility ever arranged in europe bond analysts said
brockway inc brk 3rd qtr net
the company also said that at its april 29 annual meeting shareholders will vote on increasing the companys authorized common stock to 45 mln shares from 15 mln
it said 173000 people were unemployed in december 1986 174000 in november and 157000 in december 1985
merry land said it filed a registration statement with the security and exchange commission
masse told reporters that the governments oil industry aid package is aimed at small and medium sized companies
s and p downgraded mcorps senior debt to bbb minus from bbb plus subordinated debt to bb plus from bbb preferred to bb minus from bb and commercial paper to a 3 from a 2
prices for crude energy goods such as crude oil coal and gas at the wellhead rose 26 pct last month after a 100 pct january rise
the department estimated winter potato area for harvest at 11900 acres vs 11900 acres last month and 12300 acres in 1986
the dow chemical co said its engineering thermoplastics department will increase the selling prices of standard grades of magnum abs resins by three cts per pound
south korean demand for imported ethylene this month has risen to 17000 tonnes from 10000 last month and the country may face difficulties covering the extra volume they said
fidelity television originally filed a competing application for the rko license for khj an independent station in 1965
coupon rates on new 10 year government bonds minus 01 percentage points is the likeliest choice they added
a pact with chile with a one pct spread came a day before venezuelas
earlier today london and paris traders said they expected the subsidy for the current season whites campaign for licences to end july to be between 4300 and 4345 ecus per 100 kilos
shr 20 cts vs 14 cts net 24 mln vs 17 mln revs 1367 mln vs 1744 mln six mths sdhr 72 cts vs 82 cts net 86 mln vs 99 mln revs 2125 mln vs 2688 mln
bank of americas west german branch lost some 32 mln marks in 1985
professionals in the grains trade think that farmers will be more willing to stick with corn acres than soybeans because corn is protected by the acreage reduction program
a 150 mln issue of seven year notes was given an 8 1 2 pct coupon and par pricing to yield 145 basis points more than comparable treasuries
besides using 250 mln dlrs of its own equity for the tender offer general partners said it would seek one billion dlrs under a secured margin facility from wells fargo bank na and other banks
neither finch nor us imf representative charles dallara could be reached for comment
the shares will be registered in the name of malayan banking subsidiary mayban nominees sdn bhd with kio as the beneficial owner
the plan calls for distribution of one right for each of its outstanding common shares and each right entitles the holder to buy one one hundredth of a share of newly authorized series a junior participating cumulative preferred stock at an exercise price of 55 dlrs ameron said
shr 30 cts vs 25 cts net 105 mln vs 8697589 revs 719 mln vs 649 mln
medium short grain rice in mln cwts 100 lbs 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 harvested acres mln 055 055 055 055 yield lbs 6651 6651 6258 6258 start stks 267 267 257 257 production 366 366 345 345 ttl supply 653 653 617 617 note starting stocks does not include broken kernels supply minus use does not equal ending stocks in breakdowns
sterilisation will be dictated by market tactics not necessarily in the month in which intervention occurs lawson said
if you impose five pct on both buy and sell transactions tokyo participants in the gold market could be out of business he said
neiman marcus group inc nmg 2nd qtr aug 2 loss
amsouth bancorp said it will issue about 3166000 shares of stock to acquire first tuskaloosa corp
shr loss five cts vs loss 15 cts net loss 619000 vs loss 1730000 sales 3138000 vs 5667000 avg shrs 125 mln vs 115 mln year shr loss four cts vs loss 40 cts net loss 343000 vs loss 3963000 sales 134 mln vs 353 mln avg shrs 125 mln vs 103 mln
after that director frank brand who had been executive vice president was named acting chief executive and director irving hellman was named acting chairman
that plan calls for a cut in the sugar loan rate to 12 cents per pound from 18 cents now
itoh and co ltd have signed a letter of understanding to try and boost trade ties between the two countries the industry department said
shr 174 dlrs vs 189 dlrs net 353 mln vs 382 mln assets 245 billion vs 218 billion deposits 169 billion vs 161 billion loans 189 billion vs 160 billion note qtr includes pre tax provision of 97 mln dlrs resulting in 57 mln dlrs after tax loss for reserve against interest due on medium and long term brazilian loans
lynch said the proposal was changed because it believes becors management needs more guidance in terms of financial structuring
an aide to glickman said that it will probably be introduced next week
bp chairman sir peter walters said that the groups investment in standard was its largest single asset
the bank of japan will sell tomorrow 500 billion yen of financing bills it holds to help absorb a projected money market surplus money market traders said
japan central bank buys one billion dlrs in tokyo
shr 31 cts vs 21 cts net 182839 vs 132804 revs 250 mln vs 194 mln
merrills mccarthy said they could even come in below the bottom of their respective target ranges
there were at least another 20 dead inside the boat he added
s and p added that lear applied to delist its outstanding senior notes
presumably a potential buyer of the dome mines shares would seek some type of relief on the companys debt obligations connected with dome petroleum gobert said
he said higher rates were fuelling an influx of short term speculative capital from abroad
we cannot continue negotiating every year with our creditors having to face difficulties in the meantime not knowing whether a new package will or will not be approved as it is happening to other debtor countries the minister said
increasingly large granting of option positions has been taking place
as a result of the merger borg warner will become a wholly owned subsidiary of av holdings
its revenues totaled nearly 200 mln dlrs in the year ended november 30 and for the quarter ended on that date it earned 13 mln dlrs on revenues of 558 mln dlrs
the fact that powers had been exceeded emerged in a routine check at the branch
but the current account surplus was down slightly from the 685 billion surplus recorded in february 1986
hre properties hre 1st qtr ends jan 31 net
german capital market liberalization stalls
results reflected trading in subsidiary humphreys estate group but excluded influence of a bulk of properties which the firm bought late last year from hongkong land co ltd hkldhk for 14 billion dlrs
ranger rgo sets terms of eurobond offer
volcker says further sizeable decline in dollar could be counterproductive
indias state owned national thermal power corp ltd signed a 1691 mln mark italian buyers credit bankers trust co a joint lead manager said
turkey calls for dialogue to solve dispute
close links with the powerful political faction of the ruling liberal democratic party ldp nurtured by former prime minister kakuei tanaka are another key to mpts influence the analysts said
traders will initially interpret this measure as announcing heavy sales
the west german company will supply ladles vehicles electrical and exhaust cooling apparatus and dust filters
the index fell 91 pct from a year earlier for the 21st straight year on year drop the central bank said
joensson of goldman sachs said there was a lot of demand even among small investors who were buying 15 or 20 warrants apiece
cocoa latest focus for commodity pact negotiators
murray said in his report to shareholders that lower debt and our strong cash and marketable securities position improves mobils flexibility long term debt as of december 31 1986 was put at 79 billion dlrs down 15 pct from 93 billion dlrs on the same day in 1985
this plan actively under consideration would differ slightly from the one the official described
colombia today opened export registrations for april and may with the national coffee growers federation setting no limit
1986 oper earnings excludes loss from discontinued operations of 625 mln dlrs or 441 dlrs a share versus a loss of 1668 mln dlrs or 1224 dlrs a share in 1985
shr loss three cts vs profit two cts net loss 54791 vs profit 28866 sales 1379810 vs 338886 avg shrs 1602717 vs 1331739
affandi agreed with a bank recommendation that farmers should be free to choose their own crops but he said the government would continue to maintain production targets for strategic commodities such as rice and sugar
the company said it authorized a program to repurchase between 500 mln dlrs and 10 billion dlrs of ics common stock from time to time when conditions warrant
the feeling remains in the market however that fundamental factors have not really changed and that a rise in uk interest rates is not very likely
an ntt spokesman said increased competition from new entrants to the telecommunications field and the effect of a sales tax scheduled to be introduced next january were the major factors behind the projected decrease in profits
statoil awards veslefrikk oil field contracts
by this friday sources estimated a further 233600 tonnes of cereals will have been loaded comprising 47000 tonnes of barley 78600 of wheat and 25000 of rapeseed for the soviet union 30000 of wheat for sri lanka 28000 of wheat for china and 25000 of wheat for poland
shr 31 cts vs 31 cts net 226000 vs 173000 assets 731 mln vs 625 mln deposits 546 mln vs 515 mln note earnings per share for 1987 affected by issuance of 166750 shares of common stock in december 1986
salomon inc has lowered its investment ratings on all us money center banks institutional sources said
asarco lowers copper price 150 cts to 67 cts
at the end of 1986 it had net assets of 88 mln dlrs
american sports advisors piks to liquidate
he is the first high level us official to visit japan since president reagan announced last week plans to impose tariffs worth up to 30 mln dls on japanese electronic goods on april 17 in retaliation for tokyos alleged failure to live up to a pact on microchip trade signed last september
extruded ingots from the plant will be converted to sheet in an existing hot rolling mill
us oil demand as measured by products supplied rose 21 pct in the four weeks ended february 27 to 1639 mln barrels per day bpd from 1605 mln in the same period a year ago the energy information administration eia said
the price is subject to final adjustments taft said
they said the central bank sold about 30 mln us dlrs
west german ship sinks off west africa
the oil companies amoco corp an arco exxon corp xon mobil corp mob sohio shell texaco inc tx and union oil had said that voiding previously granted leases would result in staggering financial losses
frankfurt and zurich dealers saw the dollar staying broadly entrenched in its current trading range
elsinore corp elx year loss
andriessen noted the ec has over two mln olive oil producers mostly small farmers who could be helped by the tax
he said commercial union will work closely with dealers for the note program to find the right pricing level to satisfy investor demands
the offer of 13 new tesco ordinary shares for every 20 hillards ordinary shares valued each hillards ordinary share at 3055p
where is the leadership going to come from suddenly theres a terrible void one new york banker said
group to boost fairchild industries fen stake
the ministry of international trade and industry miti has urged producers to slash output of the chips by 11 pct in the second quarter following a call to reduce production by more than 20 pct the previous quarter
it said the operations will be sold to meadowdale foods inc a corporation formed by members of its existing management including chairman david page and president lon makanoff
its a good thing and we will continue with deregulation in trade industry and licensing of new businesses asked whether the question of private capital exports from indonesia was discussed central bank governor arifin siregar expressed confidence that any drain of capital abroad would only be temporary
the recent successful find at iagifu is likely to put png on the list of major oil exporters by the early 1990s he told the australian petroleum exploration association annual conference
no formal talks have been scheduled yet among companies involved in a controversial proposal to merge two groups seeking to enter japans international telecommunications sector an official from one group said
the underwriting fee is five basis points
the supply demand position has improved in the past year and despite a silver market surplus the quantity of silver is modest enough to be absorbed by investors it added
world bank loans india 929 mln dlrs
het comite has been co ordinating national actions against alleged distortions caused by currency factors in the levy and since december has lodged more than 80 individual cases with the business appeal court in the hague
exports rose slightly to 336 billion rand in february from 331 billion in january but imports fell to 174 billion from 241 billion
bankers said the repayment amounts essentially confirmed their private estimates and could be comfortably met by the monetary authorities
hungary is to devalue the forint by an average of eight pct against western currencies the official news agency mti said
the two companies said in papers filed with the icc that trailways could collapse in a matter of days they said trailways owed suppliers more than six mln dlrs with another six mln dlrs due june 30
lomas and nettleton financial corp said its shareholders approved at a special meeting the companys acquisition of equitable life leasing corp for 2633 mln dlrs
trump makes bid for control of resorts rtb 
yugoslav economy worsened in 1986 bank data shows
in the united kingdom and ireland it was rather cool with heavy rainfall in places which has delayed beet growth
clark told a meeting of the minerals research organisation in milton keynes he foresaw a 250000 ounce increase in consumption for use in autocatalysts currently the largest single application for platinum
weis markets wmk in three for two stock split
csr has said that redland will take up the second option
he also said there was no sign of a shortage of palm oil in indonesia
the four day conference in this resort town high in the mountains above the tihamah plain stretching to the red sea has been organised by saudi arabias chambers of commerce
santa fe southern pacific corp will later today formally ask the us interstate commerce commission icc to reconsider its earlier rejection of the merger of the holding companys railroad assets a company spokesman said
schlumberger is expected to continue to be the dominant technical leader in the industry freedman said
ecuador suspended sales of crude oil its principal export product in march after an earthquake destroyed part of its oil producing infrastructure
south korea raises naphtha price
abu dhabi is the largest oil producer in the united arab emirates accounting for about 800000 bpd of its total 115 mln bpd production the sources said
the international coffee organization executive board meeting will end tomorrow without any move to reopen the debate on restoring coffee export quotas delegates said
conagra inc agreed to acquire monfort of colorado inc in a stock transaction both companies said
based on a maximum of about 275 keycorp shares and a minimum of about 18 keycorp to be exchanged the agreement provides that if the average price of keycorp common is less than 2150 dlrs a share during the pricing period the agreement will terminate unless a new conversion ratio can be negotiated
gillette co gs exercised an option to take a 512 pct stake in the french pen firm waterman which it had previously been authorised to do by the french government the french stockbrokers association csac said
in the longer term s and p said an adequate generation of returns on capital would depend on data generals successful broadening of its customer base
bohn said the bank was requesting a limitation of 1 billion dlrs for regular loan obligations of which up to 200 mln dlrs may be available as tied aid credits and a limitation of 10 billion dlrs for guarantee and insurance commitments
financial trustco capital ltd hikes payout
moderately active grain fixing was reported out of the us but none of the business involved the significant voyages to the continent or japan ship brokers said
on friday analyst daniel lee of drexel burnham lambert inc reiterated a recommendation of the stock focusing on increased comparable store sales and consistent annual earnings growth
the cross field allowance offsets up to 10 pct of qualifying spending on a new oil field against prt liability of other fields
pope evans per repurchases shares
greenblatt said he bought the stock for 350000 dlrs soley as an investment and has no intention of seeking control of the company
baker sees lower japanese trade surplus
the spokesman said some japanese companies were selling chips in europe and asia below stipulated prices but added it is only a matter of time before we solve this problem the eight month old pact aims to stop japan selling large quantities of chips at knock down prices to the united states and other countries and to increase us semiconductor sales in japan
the package based on negotiating principles informally agreed by delegates has been forged bit by bit during fortnight long meetings by icco executive director kobena erbynn and a small group of other delegates
but if they hold out there will be no problem and im beginning to trust their ability nigerian oil minister and opec president rilwanu lukman told a news conference in lagos yesterday nigeria and all member countries of opec remain determined to uphold the december agreement by adhering strictly to their various quotas and official selling prices he said opec believed consumers had drawn heavily on stocks of both crude oil and refined products reducing them to levels well below this time last year
mts acquisition has negligible number of caesars world shares
uk clears cons gold us purchase
operating net in latest quarter and year includes 750000 dlrs charge for restructuring announced in early january
inflation is expected to slow to 35 pct next year from 375 pct this year unemployment should edge down to nine pct in 1988 from 925 pct this year
the bank of england proposed that banks in britain for the first time will have to seek authorization to be lead underwriters of new issues in the euromarkets
during the hiatus between the two agreements buffer stock operations will be suspended but the international natural rubber council will remain in place
ehrlich bober financial corp said its common stock has started trading on the american stock exchange the stock had been traded on the nasdaq system
poehl is in a minority in his own house said commerzbanks pfister
while the asa position is to support a 502 dlrs per bu loan rate combined with a marketing loan haggard also endorsed a proposal by rep
a 300 mln dlr issue of notes was given a 7 7 8 pct coupon and priced at 9965 to yield 7926 pct or 70 basis points over treasuries
oats volume tripled to 27662 contracts and corn volume increased 35 pct to 580204 contracts
net proceeds from the sale of notes will be used for general corporate purposes and will replace existing outstanding debt the company said
a brief iranian news agency irna report said important victories achieved in southern fronts monday night it gave no further details
after providing for the final dividend retained earnings were 8007 mln vs 2990 mln in 1985
pakistan unveils new trade policy to boost exports
he also said the yens large and rapid rise is depressing the outlook for the japanese economy noting that in addition to hurting exporters it is also damaging domestic market manufacturers through cheap imports
us warns of dependence on foreign oil
they also said icahn must prove his offer credible by revealing financing arrangements
furthermore she believes this structure offers the european investor greater confidence in market liquidity a major concern for these buyers
tesco plc tscol is issuing a 100 mln stg convertible eurobond due february 20 2002 paying an indicated coupon of four to 4 1 4 pct and priced at par lead manager credit suisse first boston ltd said
australian beef output seen declining in 1987
since 1982 all official agencies have been closed to my country he said
harcourt brace jovanovich inc hbj 4th qtr net
philippine coconut industry worried by ec tax
managers of the offering have not been selected
offers are due by 1550 hrs edt april 13 and will remain valid until 1000 hrs edt april 14 the agent said
homestead said the dividends are payable on april 6 to shareholders of record march 20
sallie mae said proceeds will be used for general corporate purchases
but talks were revived after gaf launched its 46 dlr a share proposal on march 31 merrill lynch said
the group had a good overall year in north america the company said in a statement
new zealand retail sales slow in january
despite a sharp early fall in texaco inc bonds the 125 billion dlr us junk bond market was largely unaffected by texacos weekend filing for protection under chapter 11 of the bankruptcy code analysts said
jacques delors president of the european communitys executive commission called last month for control to go to west germanys siemens ag in order to strengthen european industry
groups of banks by nationality have chosen to take a look at what other groups of banks in other countries are willing to do and if let us say british banks wind up giving 99 pct of what is needed and us banks give only 92 pct then the british banks say as a whole they will pull out he said
sixty pct were utilities 20 pct were issued by foreign governments or corporations and 20 pct were financial institutions he detailed
industrial holding company williams holdings plc said it was bidding 5422 mln stg for the ordinary shares of building products and packaging group norcros plc
piw said sales from libya algeria and elsewhere are expected to reclaim markets lost to italian and other european refiners as a result of the abundance of cheap netback oil last year
after the usda released its report of cattle on feed in seven states as of march 1 cattle futures on the chicago mercantile exchange yesterday rose sharply
expirations will be january may july and october
independent chairman for dutch cargo dispute
were optimistic that they will be concluded shortly he added
the company said it plans to complete the transaction which requires shareholder approval by the end of march
marshall attributibuted the first quarter earnings growth to several factors including sustained demand in aristechs major domestic markets and continued growth in exports
the library has over 2000 theatrical motion pictures
of that the securities operations of prudential bache netted 817 mln dlrs after taxes and a charge of 25 mln dlrs
corporate software inc csofo 3rd qtr net
more ccc credit guarantees for algeria usda
peoples heritage bank phbk 1st qtr net
but an official at the canadian embassy in copenhagen said the inspection of danish slaughterhouses was based on ec regulations
however the ec and some us domestic groups have said the reagan administration plan to end all farm trade subsidies is unrealistic
the company said it booked over six mln dlrs in the quarter and its backlog has risen 35 pct since the end of its fiscal year leading it to expect improved results in the second half
giordano said the market was ignoring the progress being made toward reducing the us budget deficit
in the philippines most rainfall was restricted to the central islands continuing februarys drying trend in luzon and southern mindanao
hawker siddeley canada inc said that due to poor market conditions for railway freight car manufacturing it plans to sell its trenton works division in trenton nova scotia
vtx electronics corp said its board declared a five for four stock split payable april nine to holders of record march 27
waves will build to 20 to 30 feet today and tonight and continue saturday
barreto told reporters his aim was to have epac readmitted to the tenders
banks in hong kong are likely to raise prime rates by half a percentage point to 6 1 2 pct following a one quarter point prime rate increase by two major us banks yesterday dealers said
under the louvre accord west germany and japan who both have large trade surpluses pledged to boost their economic growth to take in more exports from the us while the us agreed to stop talking the dollar down
japanese banks confirm argentina loan commitment
smc sources said soriano personally was not among prospective buyers
its new leader gennady kolbin has said that at times the grain growing republic has performed so badly that it has been obliged to seek grain supplies from national reserves
treasury said it would allow imports of the south african ore and oxide until july 1 for processing and re export provided that the imported ore or oxide is accompanies by a license for importation issued by the nuclear regulatory commission the treasury brief also proposed allowing us origin goods to be imported temporarily from south african state controlled organizations for repair or servicing in the united states
wilson who was chairing the news conference made it clear jamaica itself would not be hit by the tax as it does not export oils and fats
edelman and his plaza securities co partnership subsequently sued in an attempt to block the proposed reincorporation which was a condition of the repurchase and restructuring plan
the coupon on the 300 mln dlr equity warrant bond deal for mitsubishi estate co ltd has been cut to three pct from the 3 1 4 pct initially indicated nikko securities co europe ltd said as lead manager of the deal
but tightness and backwardations are seen continuing even though the lmes new option contracts widen the gap between the declaration and prompt dates
the newly announced purchase plan is in addition to its existing anti dilutive stock repurchase programs
standards for all of the grades would remain unchanged under the proposal
hong kong firm ups wrather wco stake to 11 pct
transcontinental tgp files new offer
microdyme corp mcdy 1st qtr feb one loss
ec sugar tender said to mark no change in policy
jp stevens and co inc stn sets payout
nycor inc nycoo 3rd qtr net
it did not say whether only opec or opec and other producers were behind the reported rise in mideast output
london metal exchange stocks fell to 193100 tons in december from 194400 tons in november
washington wants to involve the iadb in its debt strategy through increased lending but as the banks largest single shareholder it also wants to require countries to adopt far reaching economic reforms to qualify for loans
the ghana cocoa board said it purchased 456 tonnes of cocoa in the 23rd week ended march 12 of the 1986 87 main crop season compared with 684 tonnes the previous week and 784 tonnes in the 23rd week ended march 20 of the 1985 86 season
ford said it made 143949 trucks during the month compared to 116727 in the 1986 period
lyng disappointed by canada corn injury decision
scurry rainbow oil ltd 1st qtr dec 31 net
it did not cite a possible purchase prices
hutton said as of the end of the day yesterday about 880000 shares of purolator common stock repesenting 115 pct of outstanding shares had been validly tendered and not withdrawn
an external appraisal of the groups investment properties was carried out last year which found their gross value to be 8513 mln stg as at dec 31
bigelow said the textbook business which normally has its highest profit in the third quarter and incurs a loss in the first quarter will have an adverse impact of 15 mln dlrs on book publishing income for the first quarter
the yield applies to maturities of one two three and six months
japans employment condition was still severe in february as the non rounded rate of unemployment in february fell only 003 percentage points to 293 pct from 296 pct in january an agency official said
bzw a wholly owned subsidiary of barclays plc bcsl said in a statement the new company had been built on the parent companys former dutch subsidiary barclays kol
computer terminal makes computer generated labels forms tags and ticket printers and terminals
while one arbitrager acknowledged there in fact may be no new bidders he said the possibility one could appear pushed the stock into play again
service america had fiscal 1986 revenues of about 934 mln dlrs or about 83 pct of allegheny beverages total revenues of 113 billion dlrs for the year ended march 29 1986 a spokesman for allegheny beverage said
preliminary figures showed us refined deliveries rose to 151800 tons in january from 124800 tons in december
invisibles in february were put provisionally at a 600 mln surplus the same as in january
ford f shares rise on higher earning estimate
the average yen dollar rate used for the figures was 14104 yen against 16903 a year earlier
gould inc said it has completed the sale of its systems and simulations division to the units management for an undisclosed price
roach said fears that major bank shareholders would impose a restrictive and conservative bank culture on the dynamic sharebroking industry were unfounded
however mulligan said the company could continue to meet minimum capital requirements to trade futures even if growmark pulled out
there is no reason to make epac a martyr of the system barreto said
virginia federal savings and loan association said it has signed a definitive agreement to be acquired by montrose holding co an affiliate of montrose capital corp for 20 mln dlrs
brown and sons inc and bateman eichler hill richards inc
oii holdings corp a company formed by kohlberg kravis roberts and co said it received and purchased about 583 mln shares or 96 pct of owens illinois inc common stock and 50275 of 475 dlr cumulative convertible preference shares of owens or about 83 pct
a gencorp spokesman said the offer came as a surprise and the company was not yet in a position to comment on the bid
the ramifications of this decision we believe go well beyond the affiliation of amoskeag and portsmouth savings bank said amoskeag chairman william s
in 1988 the infested level would be set at three or more live insects per representative sample about 100 grams in 1990 two or more insects and in 1992 the final infestattion level would be set at one or more live insects per representative sample
zambian copper production rose 32 pct to 113275 tonnes in fourth quarter 1986 from 109767 in the same 1985 period but sales fell 187 pct to 119967 tonnes from 147537 zambia consolidated copper mines zccm said
it said this restructuring will adversely affect its first quarter earnings but it said it expects to realize a significant savings in operating expenses through the remainder of the year
the west german intervention board said about 100000 tonnes of sugar have been offered into intervention so far
however us officials said a chief purpose of baldriges visit would be to discuss relaxed us rules for transferring modern technology to chinese industries
it said the 7869353 warrants originally offered to cable partners will continue to vest on the pre agreed schedule
heinz hnz has higher net despite higher costs
i dont think we should change our economic outlook at the moment sumita said
a senior us official yesterday dismissed a french idea to sell cut price grain to poor countries in africa as a way of lessening surplus stocks
but he said baker now thinks 75 to 85 mln dlrs will be saved while hughes sees a saving of only 50 to 60 mln dlrs
1985 net includes 720 mln dlr writedown of drilling rigs
finance minister kiichi miyazawa told a parliamentary session the current dollar yen exchange rate is not necessarily satisfactory for the japanese economy
the governor said the six major industrial nations are expected to review last months pact on currency stability when they meet next in april
but william randol analyst at first boston corp said crude oil prices will hold near current levels this spring
it is a sort of middle of the road agreement one delegate said
it might be wise for c and w to join the new firm which has the support of many influential backers and work within this for the realization of their ideas watanabe told reporters
it said sourrouille would urge the imf to release a 480 mln dlrs compensatory loan for falling exports as well as the first two tranches of a standby loan totalling 450 mln dlrs
currently washington is only allowed to vote 345 pct in iadb board meetings considering loans to latin american countries
shr 13 cts vs 70 cts net 1538000 vs 8614000 revs 164 mln vs 196 mln 12 mths shr 89 cts vs 243 dlrs net 103 mln vs 298 mln revs 562 mln vs 838 mln note 1986 net is before preferred dividend payments and includes after tax gain from sale of real estate properties of 129 mln dlrs
digital equipment dec to redeem debentures
there has been grain industry speculation that the usda will offer moscow another wheat subsidy during the next marketing year
us agency rules against brazil orange juice
the average rate of discount at todays uk treasury bill tender rose to 95195 pct from 93157 pct last week the bank of england said
the automaker will shut three plants each in its two groups the buick oldsmobile cadillac group and the chevrolet pontiac gm of canada group
one agriculture ministry source said the study so far was based on the years 1979 81
moore corp ltd expects 1987 profits from continuing operations will exceed 1986 results and recover to 1985 levels when the company earned 152 mln us dlrs or 170 dlrs a share president m
it has been syndicated on a club basis and signing is planned by the end of march
pyro energy corp btu year net
the ball is in irans court now
at the same time he said the region experienced a greater rise in per capita income and lower unemployment than the rest of the united states and california
shr 70 cts vs 61 cts net 2002 mln vs 1739 mln sales 138 billion vs 126 billion nine mths shr 187 dlrs vs 154 dlrs net 5356 mln vs 4378 mln sales 404 billion vs 363 billion note share adjusted for two for one stock split
production of auto assemblies rose to an annual rate of 83 mln units last month from a january rate of 75 mln units
strong winds of 20 to 35 mph with some stronger gusts were reported across much of the plains causing considerable blowingand drifting snow
belgian ecu coin issue priced sale date set
he said about 12 brazilian orange juice exporters including three major shippers would be affected by the decision
the index of coincident indicators which measures the current economy rose 09 pct in february after a decline of 13 pct in january and a rise of 09 pct in december
seasonally adjusted its already december in the bond market quipped robert brusca of nikko securities co international inc
some trust bank pension fund acccounts and investment trusts were seen selling several hundred million dollars on the foreign exchange market here today accentuating the units tumble securities house dealers said
the commission has held several hearings with the industry and approval should be given this month the sources said
the long term prime rate is customarily set 09 percentage point above the coupon on five year bank debentures issued by the long term banks every month
ctc dealer holdings ltd said canadian tire corp ltd controlling shareholders alfred david and martha billes did not extend an agreement expiring yesterday to tender their shares only to ctcs previously reported offer for 49 pct of canadian tire common shares
nogales said bolivias net international reserves are around 250 mln dlrs up from one mln dlrs when president ictor paz estenssoro took office in august 1985
over 3000 berg harmon limited partners have made capital investments of over 300 mln dlrs in the properties now managed by southmark
other technical points need to be sorted out including limits on how much cocoa the buffer stock manager can buy in nearby intermediate and forward positions and the consequent effect on prices in the various deliveries delegates said
the problem for the government is that there may be little more it can do to prod the economy into faster growth
oper shr loss 125 dlrs vs loss 44 cts oper net loss 2915000 vs loss 951000 revs 8131000 vs 119000 note 1985 net excludes 625000 dlr gain from discontinued operations
opecs credibility faces fresh scrutiny in coming weeks amid signs of a significant rise in supplies of oil to international oil markets the kuwait daily al qabas said
the investor group owning about 42 pct of the outstanding capital stock of the first womens bank said a cash tender offer for the banks remaining outstanding shares at 11 dlrs per share expired on march three
four seasons hotels said it and vms realty partners of chicago have agreed to purchase the santa barbara biltmore hotel from marriott corp for an undisclosed amount
the company said the acquisition of the new systems will add to its presence in new york
texas air has guaranteed the scheduled payments of interest and principal for the senior notes
two turkish iron and steel companies were lent a total of 145 mln dlrs for modernisation projects to be paid over 10 years with a two year grace period
latest year net includes nine mln dlr provision for loss on disposition of two abraham and strauss stores and preopening expenses for another
d p lowers minnesota power mpl debt rating
signing takes place today and the first issuance of maturities from seven days to five years should take place later this month
with this move mr
plastics organic chemicals polyurethanes and coating raw materials all developed well it said
swedish current account deficit rises in january
pan atlantic re inc pnre 4th qtr net
showboat inc said the new jersey casino control commission has directed its new altnatic city showboat casino hotel and bowling center to conduct a limited bet day today in accordance with commission regulations
sommer will assume the additional title of president
the application to the cftc could be made as soon as early next week but the secs rule change must first be formalized by its publication in the federal register an cbt spokesman said
shr 63 cts vs 49 cts net 5635000 vs 4330000 sales 1178 mln vs 962 mln year shr 221 dlrs vs 171 dlrs net 198 mln vs 152 mln sales 4651 mln vs 3885 mln note share adjusted for february 1987 three for two split
last week there were rumours in european markets that indonesia had issued licences to import around 135000 tonnes of palm oil for deliveries commencing april
britain initiated the discussion on the proposal to impose a hefty tax on domestic and imported oils and fats because it could seriously damage ec trade relations
american savings and loan association of florida said knoll international holdings inc has offered to purchase 500000 new shares of american savings for 10 mln dlrs and the board has accepted knolls offer
the investment gains were up 39 pct from 1985s gains of 559 mln dlrs
export bonus wheat flour to iraq usda
shr 19 cts vs 18 cts net 835000 vs 794000 sales 239 mln vs 205 mln nine mths shr 47 cts vs 91 cts net 2104000 vs 3489000 sales 745 mln vs 652 mln avg shrs 4450675 vs 3822894
all three figures are well below the swiss average for recent years
i could see if things got really crazy that it might go for 175 dlrs per share said one arbitrager but he speculated it probably would not even be taken over for more than a price in the 160s
market expectations among analysts questioned by before the budget varied widely between a balanced budget and a 23 billion dlr deficit
a ship is expected later this week to load 12000 tonnes for china
he said the company owed 76 mln dlrs and had borrowed an additional 15 mln dlrs in order to pay off workers
the sale permits national to focus on its core businesses chemicals and propane marketing
the special meeting of the international coffee organization ico council was called to find a way to stop a prolonged slide in coffee prices
i have not yet had a reply
it said the auditors statement known as a subject to opinion cautions that because of continuing operating losses and negative cash flow it must achieve profitable operations or acquire additional equity capital or other financing to continue in existence
awards are determined by whichever of the two methods is most cost advantageous based on the cost of money at that time
the department noted the price of fcoj will probably be affected by the final decision scheduled for april 22 on whether the us considers brazilian fcoj exports to the us have caused injury
in its weekly petroleum status report the energy department agency said distillate demand was up 29 pct in the period to 343 mln bpd from 333 mln a year earlier
the rating agency also pointed out that union carbides successful refinancing of more than 25 billion dlrs of long term debt has resulted in a substantially lower interest burden
they said it was likely the 51 mln dlrs in sanctions would be lifted by the end of the month
the sources said a south african delegation led by chief debt negotiator chris stals director general of finance was completing meetings in london today with foreign creditor banks
mexico warns of worsening third world debt woes
bell atlantic corp bel 3rd qtr net
kuwaiti oil minister sheikh ali al khalifa al sabah said opec was producing well below its oil output ceiling and this would help prices move higher according to a kuwaiti newspaper interview
this years exports are estimated at 2400 tonnes
triumph capital inc to make acquisition
the company said the note agreements were amended to reflect an easing of some financial covenants and an increase of interest to 135 pct from 130 pct until december 1990
multi family fell 41 pct to a 534000 rate
he said the timing of the iac inquiry would allow its findings and those of the royal commission to be considered in later negotiations on wheat marketing arrangements between the federal and state governments and the industry
hawaiian electric said the planned purchase was part of its strategy to increase the companys investment in selected service industries in hawaii including financial services
cpc international inc said it reached an agreement in principle to sell its european corn wet milling business to agricola finanziaria spa a member of the ferruzzi group for a price in excess of 600 mln dlrs
mulford defended the us strategy for handling the debt crisis and added additional steps like development by commercial banks of a menu of options to support debtor reform can be undertaken
shr 12 cts vs seven cts net 817000 vs 512000 revs 1075 mln vs 999 mln avg 69 mln vs 72 mln note 1987 net includes 24 mln dlr pretax gain on settlement 743000 dlrs gain on securities sale interest expense net of investment income of 22 mln dlrs and 920000 dlrs in fiscal 1986
custom manages some 215 food contract management operations and about 65 environmental service accounts producing about 100 mln dlrs in annual revenues
the governments economic planning agency said last week the economy grew at 25 pct in 1986 the worst performance since 1974 when the economy shrank 14 pct due to the first oil price crisis
it added a shelf registration statement for up to 500 mln dlrs of debt securities to be used in part for the debt refinancing is expected to be filed in the near future
synergy group sells subordinated notes
but even wednesday when fed funds were below six pct the dollar strong and oil on the soft side bond futures attracted eager sellers when contracts approached recent highs he said
officials of the cartagena group of 11 debtor nations met here this week to draw up new proposals in reaction to what they called a deteriorating world panorama and citicorps decision to create reserves against third world loans
stocks will continue to outperform bonds next quarter and probably for all of 1987
we hope they will be very profitable very shortly
ethanol could make up five pct of gasoline cutting the oil import bill by about 300 mln pesos
the company said president and chief executive officer morris moliver had been chief operating officer as well
australian current account deficit narrows in feb
a traditional sunday lull in trading due to the european weekend also contributed to the lack of market activity
gelco corp 2nd qtr shr 67 cts vs 23 cts
humana said it will pay 40 mln dlrs to the states department of insurance to pay prior claims and 20 mln dlrs in working capital
aquino said the countrys foreign debt which rose to nearly 29 billion dlrs in april was growing even without fresh borrowing
toshiba corp tsbat year ended march 31
as much as 30 pct of us oil imports in 1995 could come from opec nations he said
hong kong firm ups wrather wco stake to 28 pct
over the next six years the philippines would be paying its creditors 20 billion dlrs while getting only four billion dlrs in new loans
a key feature of the rescheduling agreement is that chile will avoid the need for fresh bank loans this year and next by making interest payments to the banks every twelve months instead of every six months
traders said signs of cubas shortage of immediately available raw sugar to supply its traditional martkets was probably the factor behind syria calling a snap buying tender last month
a more hopeful sign of cooperation was agreement on basic elements of a new international natural rubber agreement in geneva at the weekend
he said the port would be closed until today when they hoped to refloat the ship on the high tide
innovex invx completes purchase of lucht
it did not elaborate
the company said betweenm 11550000 dlrs and 12550000 dlrs f the principal amount of the revco note plus accrued interest is payable june 30
citicorp capital investors ltd a unit of citicorp said it wants to buy cyclops corps steel assets from dixons group plc and is willing to pay 1244 mln dlrs nearly 13 mln dlrs more than had been offered for the assets by alleghany corp
he named them as us protectionist behaviour curbs on technology transfer and out of date trade legislation
analysts also said gross profit margins were high as retailers were not overly promotional due to leaner inventories than a year ago
he said that royal trust hoped to complete negotiations before the end of this month to sell its london based savory milln brokerage acquired in the dow financial deal
hoenemeyer testified that by the next meeting of the board february 17 hutton submitted a revised proposal which was accepted
the new method is expected to lead to a reduction in the accumulated provision for depreciation and thereby increase the net book value of tangible asssets by about 300 mln stg as at january 1 1987
cnb bancshares inc cnbeo 3rd qtr net
it also cited homes plans to expand its customer base product line and pending plans to acquire baltimore federal financial fsa as factors that would increase financial risk
the government has already announced financial aid for the milk sector and it was not clear how much of the package announced today was new aid lacombe said
the export registration price or reintegro was lowered to 110 dlr per lb ex dock new york or 15583 dlrs per bag of 70 kilos from 135 dlrs 19433 dlrs the government announced a more flexible policy of reintegro in order to closely reflect market trends which arango warmly welcomed saying private exporters will undoubtedly be more actively present in the market
but rule said that for airline companies a purchaser would be exempt from the requirement if it instead had filed a merger application with the us department of transportation
last monday the supreme court overturned a decision to cut texacos bond to one billion dlrs and sent the issue back to the texas courts
however the system and fca have become more positive to the idea recently because the system could benefit if it were appointed the agent for a secondary market
the cambio la guiara exchange house had operated in venezuela for more than 20 years
they said the fed cannot tighten policy and push up interest rates as might be appropriate to stabilize the dollar and head off renewed inflationary psychology
the company said it denied the claim
m 1 makes up about a quarter of m 2 and a fifth of m 3
malaysian oil palm growers have said the charges by the asa that palm oil consumption increases blood cholesterol and contributes to heart disease are untrue
sama decreased the offer price on the 900 mln riyal issue to 9950586 from 9951953 last saturday
bullion rose to 40940 90 dlrs from an initial low of 40890 40940
baker said last night in a statement that the required assets to be sold would reduce revenues by about 65 mln dlrs representing about three pct of the revenues of the combined companies
the primary reason for the trade imbalance was the 70 pct rise of the dollar between 1980 and 1985 although other factors were involved roderick said
brown absb sets split to offer shares
the new investment coin to be sold worldwide will fluctuate in price according to the international price of gold
we are confident that the banks are going to be reasonable nogales said
timminco ltd year net
mark said the securities would consist of 23 mln series a special warrants at 11 dlrs each with each exchangeable for one common share and 25000 series b special warrants at 1000 dlrs each and each exchangeable for one 1000 dlr seven pct convertible subordinated debenture
shell francaise sfmfpa a subsidiary of shell petroleum nv returned to the black last year for the first time since 1982 with parent company net profit of 43 mln francs against losses of 968 mln in 1985 and 107 billion in 1984
texas american txa banks to be merged
continental bank of canada said shareholders approved a capital reorganization to allow an initial payout by the end of may to common shareholders from last years 200 mln canadian dlr sale of most continental assets to lloyds bank plc s lloyds bank canada
but at least we are still talking a union spokesman said
chinese industrial growth rate up after weak 1986
eac industries inc eac 4th qtr oper loss
since announcing the agreements mr
the statement said the payments were rescheduled for 1992 to 1996 under the accord which followed a multilateral rescheduling pact agreed by paris club creditor nations on november 19 1986
memory protection devices inc said it expects to close the previously announced acquisition of the assets and liabilities of bogen a division of lear siegler inc on april one
the paris club agreement was for a rescheduling of the 75 billion dlrs of medium and long term debt due between september 1986 and end 1987 over 10 years with five years grace
comshare inc csreo 1st qtr sept 30 loss
qtly div seven cts vs six cts prior pay april 17 record april three
the philippine proposal is very interesting its quite unique and i dont think its something that should be categorically rejected out of hand the official said
marine midland banks inc is offering 125 mln dlrs of subordinated capital notes due 1997 yielding 866 pct said lead manager first boston corp
johnson electronics inc jhsn 4th qtr loss
qtly div ten cts vs ten cts pay april 1 record march 9
us february trade to be reported on new basis
the diplomats said sudan hoped a planned four year economic recovery program would be acceptable to the imf as a serious attempt to tackle the countrys economic troubles and persuade its gulf arab creditors to pay the imf arrears
the new rate is 105 pct apr annual percentage rate 112 pct including fees for normal repayment mortgages and 111 pct including fees for endowment and pension mortgages a spokesman for nat west said the position for existing mortgages is being kept under active review in the light of market conditions and an announcement will be made as soon as possible
funaro who travels to italy this evening said it was unclear if he would go to japan on friday or return to brazil first
the 750 mln peseta limit was set last march
state run tanzania railway corporation trc has secured 256 mln dlrs aid from banks and european countries for a one year emergency repair program transport minister mustafa nyanganyi said
under the agreement the ec will import two mln tonnes of maize and 300000 tonnes of sorghum a year into spain at specially reduced levy rates for the next four years
shr 12 cts vs 33 cts net 699037 vs 1349077 year shr 54 cts vs 55 cts net 2748280 vs 1833766 note per shr amounts reported after preferred stock dividend requirements
suddenly instead of the us it is europe that is laying the golden egg said de hora
analysts have said they believe gaf chairman samuel heyman sought borg warner because of its chemicals and plastics business
inflation fell to an estimated 12 pct this fiscal year from 17 pct in 1981 82 he said last night
while the department has not made any final decision banning the use of pik and roll grain in reserve rotation is under heavy consideration he said
statoil hired by ptt to carry out an independent appraisal of the fields reserves and propose a development plan has estimated the field could be commercially developed at a cost of some 700 mln crowns
british press magnate robert maxwell said his british printing and communication corp plc would not renew its bid for harcourt brace jovanovich inc hbj if the lawsuit filed against harcourt in new york today fails
the company said its new posting for light sweet crude oil at edmonton is 2560 canadian dlrs a barrel
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
sterling was also supported by signs of a weakening in the west german and japanese economies where growth for 1987 is trailing behind the three pct forecast for the uk recent opinion polls showing britains ruling conservative party ahead of opposition parties in popularity have also supported the pound
the company is now locally controlled with 80 pct of its equity owned by the government 14 pct by the dutch firm
floating rate debt of us and canadian banks came under pressure last month when fears resurfaced about their exposure to latin american debt
the increase in reserves the dividend cut and continued management cost cutting are aimed at ensuring that mellon has the financial strength to deal with current uncertainties barnes said
the companys common is currently trading at 25 dlrs a share on the new york stock exchange down 3 4
yeutter did not mention the recent us trade sanctions against japanese semiconductors in his testimony on the pending trade bill
there is always an excuse for government not to sell she said but she added i want government to get out of business she said non performing assets would be sold in open bidding and filipinos and foreigners would compete on equal terms
our policy is that we do not comment on any rumors or speculation of this nature a federated spokeswoman said
gas utilities along eastern seaboard relying on transco for spot gas such as north carolina natural gas co ncng piedmont natural gas co pny will face the same high cost factor as brooklyn union steve richards a supply manager with end users supply system a houston based natural gas brokering firm said
the fall in raw material prices was not enough to compensate for the decline in turnover due to lower prices and currencies hoechst said
for computer associates the merger with uccel caps a six year acquisition campaign that has vaulted the garden city ny based company to the top of the software industry
first federal brooksville ffbv sets quarterly
all signs point to the possibility of a modest recovery in the economies of these gcc countries although this expected growth will not be similar to that of the 1970s boom years the study said
as previously announced brooksville shareholders will get cash and stock in exchange for their shares
cityquest plc a newly formed company is making a recommended 120 mln stg offer for builders merchants and diy do it yourself company wickes plc wickes said in a statement
safeguard scientifics inc said it made a 25 mln dlr equity investment in sanchez computer associates inc a private computer software firm based in malvern pa
the conversion premium is 2495 pct
treasurys baker says us backs stability
french february year on year inflation 34 pct vs three pct january official
but congressmen known for their allegiance to free trade said the bill ties reagans hands too much in trade disputes and they will seek to restore his negotiating powers
perry gave no figures for colombias 11 km segment but said it was insignificant compared with what we are going to earn opec member ecuador was pumping around 250000 bpd before the quake
however she said the dollar could break out of the range with major surprises such as a worse than expected us merchandise trade deficit due next tuesday
over 25000 tonnes of wheat rice flour and other cereals were required it said along with supplies of sugar lentils dried or canned fish and milk
software concepts had revenues of about 3200000 dlrs for the year ended june 30
texas eastern tet unit to redeem debentures
an economist at abn bank said he expected west german and dutch interest rates to ease in the short term
chi chis inc chic 3rd qtr jan 31 loss
that is probably one area that we will probably do something with in the next five years he said the company would continue to emphasize its home canadian market which cornelissen and financial services analysts agreed would remain vital to royal trust
he said the inflow of funds mainly from japan europe and the united states is the result of confidence in the direction this country is going in that is the reason why the canadian dollar today is higher than 75 cts us compared to this time last year when it was a little over 69 cts wilson told the house of commons daily question period
bankers here expressed confidence the two top financial policy makers would quickly patch up their relationship to steer the economy through a particularly difficult time
totally unadjusted figures show a deficit of 83 mln dlrs against 164 mln dlrs in march revised from 178 mln dlrs and compared with 262 mln in april 1986
iranian tanker reports sighting mine in gulf
the company said the expansion will cost about 24 mln dlrs and could be in operation by 1988
many have converted to full subsidiary status and applied for a full banking licence over the last two years in order to lead manage mark eurobonds
elders said its application to investment canada is still being processed under normal review procedures
west german finance minister gerhard stoltenberg said this week he believed the tax could still be removed even if its abolition was not decided during recent coalition discussions
the release of uk february trade data showing that the current account surplus was a provisional 376 mln stg up from a 73 mln surplus in january has boosted hopes of an early cut in interest rates analysts said
sales proceeds 657 billion stg vs 881 billion duty and value added tax 184 billion vs 160 billion net proceeds 473 billion vs 721 billion net profit 757 mln vs 667 mln average capital employed 363 billion vs 371 billion capital and exploration expenditure 644 mln vs 618 mln cash surplus 423 mln vs 584 mln
thad cochran r miss which call for either a 502 marketing loan or a producer option payment
the strong state of government finances might permit it not to issue one or both of them he said
in its annual report williams said its northwest pipeline corp and williams natural gas co had natural gas costs that are among the lowest in the nation averaging 204 dlrs and 207 dlrs per mcf respectively last year
overnight rose two points to six pct while most quotes for tomorrow next and spot next were 1 2 point higher at around six 5 1 2 pct
late week rains and thunderstorms came at an opportune time
fidelcor ficro buys new england bkneo stake
the ussr has purchased 240 mln tonnes of us corn for delivery in the fourth year of the us ussr grain agreement
day international corp said it has entered into a letter of intent to sell its allen industries inc unit to a group including the units current management
eastman kodak co said it filed a shelf registration with the securities and exchange commission for debt securities totaling 900 mln dlrs
the employment department said the rise in the index between january and february was mainly the result of higher prices for petrol fresh vegetables cars and car maintenance
schering plough sgp obtains injunction
period ends february 28 shr 89 cts vs 87 cts net 1195 mln vs 1146 mln revs 8723 mln vs 9174 mln year shr 287 dlrs vs 332 dlrs net 3834 mln vs 4136 mln revs 445 billion vs 445 billion note full name public service enterprise group inc
andre morony of bankers trust australia ltd added the result was positive because growth was export driven
bouygues in february said it estimated 1986 group net attributable profit at 480 mln francs up from 443 mln for 1985 on consolidated turnover of 458 billion francs up from 263 billion
at present it is for instance pressuring japan to end allegedly discriminatory taxation of imported wines and spirits to ensure ec companies have a chance to win contracts for the building of a new international airport and to simplify certification and safety checks on imported cars
nippon life would be entitled to nominate two directors to the shearson board and one representative to serve as an adviser to the american express board of directors
the seven year revolving credit has a commitment fee of 010 pct per annum under which drawings will be at 5 16 pct over the london interbank offered rate libor the facility also incorporates a swing line facility which would allow for same day drawings in the us market for up to three business days at the floating us prime rate
south africas electricity supply commission escom which last year launched a massive restructuring programme after the ending of foreign loans to the country in 1985 said it met its budget targets in 1986 without foreign finance
the 25 billion rupee issue consisted of 10 year maturity bonds of 1000 rupees each earning 10 pct tax free interest
broad corp said it acquired the construction activities of vogt and conant co of cleveland
but some of the latest economic data show signs of surprising strength in the us economy although some economists remain cautious about the outlook
citybank is moving rapidly to move us down to fifth and wells fargo down to fourth he said
shr 75 cts vs 52 cts net 1699124 vs 1177786 revs 456 mln vs 316 mln 12 mths shr 222 dlrs vs 220 dlrs net 5057292 vs 4961085 revs 1302 mln vs 1267 mln
endotronics inc halted at 1 3 4 on nasdaq pending release of a news report on monday said it was expecting substantial losses for the quarter ending march 31 1987 and the fiscal year ending sept 30 1987
nevertheless he said it was likely to result in a boost to the conservative partys pre election popularity
government figures also show taiwans surplus with europe rose to 153 billion dlrs last year from 543 mln in 1985
the treasury secretary is also expected us officials say to portray that attempt as a crucial element in his plan to promote inflation free economic growth open markets and a much reduced government role in the economies of latin america
old stone ostn completes acquisition
all sales under the credit guarantee line must be registered and shipped by september 30 1987 it said
control data corp said it agreed to acquire unisys incs uis 13 pct stake in magnetic peripherals inc the letter of intent provides that unisys converts from an owner in magnetic peripherals to a customer of control datas data storage products group over a two year period
uk chancellor of the exchequer nigel today repeated that he was satisfied with the current level of sterling both against the dollar and the west german mark
american brands inc amb files with sec
gabelli said he also proposes that management consider spinning off all assets other than the gencorp broadcast properties to shareholders
chinas 1987 cotton output must rise above the 1986 level of 354 mln tonnes or supply will fall short of increasing demand the china daily said
heyman said in the considerable time that has elapsed since our original proposal was submitted the credit and financial markets have experienced extraordinary and almost unprecedented deterioration
moodys also said merrill lynch would continue to aggressively commit its capital to such merchant banking activities as bridge financing
rothmans international plc rotl aims to set up a joint venture with jinan cigarette factory in shandong china to produce high quality cigarettes some for export chinese newspapers said
the bank has 38 billion dlrs of debt
gencorp gy takeover group cancels hearing
on the other hand the impact of the temporary scheme on ec food surpluses has been slight
he further declined to attribute active trading in wendys stock to a published report which stated wall street professionals believe that wendys was possibly being studied by coca cola co ko with view to a possible acquisition
using a black sholes options model he said the issues long 43 year maturity meant the warrants needed an implicit volatility of gold of only 245 pct for the option to pay off which he claimed was lower than the other issues
six killed in south african gold mine accident
gmac canada unit issues canadian dollar bond
it argues there might be instances in which a country needed the money to continue its moves toward us policies in other areas
norwegian tankers supplied south africa with about 30 pct of its crude oil imports during the early 1980s but the trade has dropped sharply to just one cargo in the last three months trade ministry officials said
1985 year net includes 6700000 dlr credit for previous overpayments of windfall profits taxes
japan march wholesale prices rise 02 pct 01 pct february drop official
state bank of south australia issues novel bond
the market is now trying to teach them that lesson again he added
industrial production in january and february was only 13 pct up on the same 1986 period mti said while hard currency exports fell six pct as imports rose 10 pct
us agriculture secretary richard lyng said he will ask japan to offer a share of its rice market to us exporters when he visits that country next month
trump and interstate which presently own about 40 pct of alexanders common stock said they intend to keep the company as a retailer if they succed in their acquisition
the preference of exchange rate goals above interest rate aims goes almost undisputed in the netherlands
the marines are doing their best but they dont have the manpower nor the experience to control the situation in such a quick period he said
chamber head noboru gotoh told a press conference the awaited economic package should be powerful enough to push up japans gross national product gnp by about two pct
nelson holdings unit in film pact
sosnoff said the talks had not been actively pursued since they were announced march 20 but it had been agreed that unless the discussions were formally terminated pratt and southmark would not initiate a competing tender offer for caesars world or take any other action that would hamper sosnoffs current offer to acquire all caesars shares he does not now own for 28 dlrs each
bfce issues three billion franc domestic bond
a new canadian dollar issue for hydro quebec was seeing excellent demand sector specialists said and the issue was quickly increased to a total of 150 mln dlrs from 125 mln
cablevision said it is the nations 21st largest cable company and is ownnd by alan gerry its chairman president and chief executive officer
what we have seen so far in improved rights under soviet leader mikhail gorbachev are promising trends he said
bangladeshs broad based m2 money supply rose 695 pct to 13279 billion taka in december after rising 051 pct to 12416 billion in november and 307 pct to 11422 billion in december 1985 the central bank said
it also declared a regular quarterly dividend of 25 cts per share on its common payable may one to shareholders of record april 10
kahn said he indicated in a filing with the securities and exchange commission that his group bought an additional 7300 trans lux common shares and 100000 dlrs of nine pct convertible subordinated debentures due 2005 convertible into an additional 6803 shares
a complaint that the brazilian imports were being dumped at below costs on the us market was filed on behalf of us growers by the florida citrus mutual a lakeland fla group alcoma packing co inc and barry citrus products
sec charges campeaus allied stores with disclosure violations in recent takeover
they said they believed that chrysler was sold the corporates at a large profit because the issues were bought by the automaker for its portfolio when interest rates were much higher
they may need an emergency meeting to sort out the problems said daniel yergin director of cambridge energy research associates cera
c fred bergsten a former senior treasury department official and robert solomon of the brookings institution told the senate foreign relations committee the major exporting countries risk recession if they do not expand because us demand for imports is expected to fall
shr 17 cts vs 15 cts net 565000 vs 502000 revs 200 mln vs 145 mln note current qtr figures include tax loss carryforward credit of 194000 dlrs vs credit of 197000 dlrs
iraq also reported a naval battle at the northern tip of the gulf
the company did not immediately elaborate on total production figures
starrex mining corp ltd said a sharp rise in its share price is based on speculation for favorable results from its current underground diamond drilling program at its 35 pct owned star lake gold mine in northern saskatchewan
even the asset sales while regrettable were necessary to reduce debt silas said
americas interests require that agreements be honored and that us industries not bear the burden for the persistent unwillingness or inability of the government of japan to deliver on its commitments the trade group said
the move is part of our government efforts to encourage imports from our trading partners particularly from the united states he said
france fund inc said its board declared an initial dividend of 112 dlrs per share payable april six to holders of record march 20
exxon xon raises heating oil price traders
the paper said the price for round grained rice from 11 provinces regions and cities in central east and northwest china has been increased by 175 yuan per 50 kg
proceeds will be used to reduce long term debt and to convert other debt to fixed from floating rates the maker of high technology instruments and other products said
unilevers un chesebrough offers to sell bass
exxon xon may close one french refinery
the company discontinued operations in that unit on jan
rainfall totalled between 20 and 290 mm in buenos aires heaviest in western sectors of the province 20 to 145 mm in la pampa 25 to 120 mm in cordoba and 10 to 75 mm in santa fe
mounting trade friction between the us and japan has raised fears among many of asias exporting nations that the row could inflict far reaching economic damage businessmen and officials said
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
de mel will also attend a washington meeting of the group of 24 from april 5 to 8
total investment by the group in the communications sector including cable activities would be between 300 mln and 400 mln francs over the next five years mainly concentrated in the coming year
the south african reserve bank confirming previous estimates said real gross domestic product in the 1986 fourth quarter grew at a seasonally adjusted annual rate of 47 pct versus 46 pct in the third quarter and 13 pct in the 1985 final quarter
exports fell to around 189 billion baht from 204 billion in january compared with 174 billion a year ago the bank said
rolls was rescued from bankruptcy and taken into state ownership in 1971
dow jones and co inc first quarter shr 69 cts vs 64 cts
canadian home shopping cwsto 1st qtr loss
k mart corp 4th qtr shr 211 dlrs vs nine cts
1986 3rd qtr and nine mths oper net excludes operating income of 15 mln dlrs and and 44 mln dlrs for discontinued operations
in selling am general to ltv american motors agreed to indemnify ltv against losses incurred by ltv resulting from the emerson electric claims
southwestern bell votes three for one stock split 88 pct dividend increase
more than 85 pct of euroyen bond issues are swap driven they added
i favor the maximum fill rate of 100000 bpd herrington said
nor did it specify if the sources were official or other contacts
dollar expected to fall despite intervention
brazil asks 60 day extension short term credit
british aerospace raises system designers stake
shearson lehman brothers inc co managed the two tranche deal
grain traders said the figures understate shipments already made by several thousand tonnes and they expect total uk grain exports to the ussr this season to reach 25 mln tonnes comprising 15 mln wheat 10 mln barley
the restructuring was announced in december after carter hawley rejected a buy out offer by retail partners
the china daily quoted he as saying china should adopt intensive farming to increase per hectare output and improve crop quality and maintain arable land at 111 mln hectares
sarcinelli was reacting to suggestions that last months overall 3211 billion lire deficit which compares with aprils 2040 billion surplus could be linked to a may 13 decree abolishing obligatory non interest bearing deposits on foreign securities purchases
earlier today macandrews and forbes group inc began an 1850 dlr a share cash offer for all common stock of revlon it does not own
thailand announces third tapioca quota for ec
analysts said this would be useful in keeping in line nations like qatar which has had trouble selling oil
home shopping also said it entered a definitive contract to buy tv station kpst channel 66 in san francisco and kltj channel 49 in dallas
moss rosenberg verft a subsidiary of kvaerner industrier a s kviool won a 12 billion crown contract to convert statoils semisubmersible rig west vision to a floating production platform and to build the deck for a separate fixed well head platform to be placed on the field it said
german industrial output rises 32 pct in february
the central bank bought bank bills outright comprising 345 mln stg in band one at 9 7 8 pct and 75 mln stg in band two at 9 3 16 pct
lucas sees continued growth in second half
a spokesman told reporters the documents would formalise the agreement reached in march on the restructuring of 103 billion dlrs out of a total foreign debt of 282 billion
s and p cut to bb from bbb minus texas americans 65 mln dlrs of senior debt
commissioner ramon diaz said at the time the government would not allow a subsidiary to buy into a parent firm adding san miguel could have offered the shares to other parties
most of the rescheduling falls during 1994 1998 when 533 pct or some 1125 billion dlrs must be paid
there will be eight members three of whom were designated by the new investors the company said
the exercise price was set 1640 yen per share representing a premium of 2 1 2 pct over todays closing price of 1600 yen
i dont see any reason to change full year earnings estimates said frederick meinke analyst at ef hutton co
usda forecast argentine 1986 87 coarse grain exports at 660 mln tonnes vs 773 mln tonnes last month and projected 1985 86 exports at 943 mln tonnes vs 958 mln last month
this is because banks will only be able to offset the tax credit for foreign withholding tax paid on the interest they receive against the corporation tax on the profit of a specific loan
the company said it may move alloyteks plant from grandville mich to a lower labor cost area
retail services employment rose 129000 in february compared to a gain of 117000 in january previously reported at 166000
chinas foreign debt reached 27 billion dlrs by the end of 1986 but despite an over exposure to short term credits and yen borrowing china remains very creditworthy with an improved 1987 export outlook foreign bankers and chinese officials told 
we have sacrificed a great deal already he said
the new pact will be open for signature at un headquarters in new york from may 1 to december 31 this year
six nations the uk canada france japan the us and west germany pledged in paris last month to stabilise currencies around current levels
backlog at january 31 747 mln dlrs
the group of 10 developed nations issued a communique welcoming the reaffirmation of the paris accord on currency stability by the group of seven leading industrial democracies yesterday
shr eight cts vs 30 cts net 1100000 vs 3900000 revs 149 mln vs 207 mln
the soviet union has taken an increased share of yugoslav corn sales during this marketing year he said
blair said that any move to put domes financial house in order will remove one of the general problems of attitude that have hung over western canadian industry he added however that the energy industry still faced a couple of tough tough additional years asked about novas 1987 prospects blair predicted that novas net profit would rise this year to more than 150 mln dlrs from last years net profit of 1002 mln dlrs due to improved product prices and continued cost cutting
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
until the end of last week the central was holding out staunchly against market pressures for lower rates in an apparent effort to preserve the expected rate cuts for around the time of the governments annual budget on march 17
tbn 1400 mt bulk sugar fiji prai 16 dlrs fio 10000 1000 1 10 5 fiji sugar marketing
phoenix was forced to close the clayton mill last month
finance minister michael wilson said large inflows of capital into canada principally into the countrys bond market is a major reason behind the sharp recovery in the canadian dollar
cut were the parents senior debt to ba 3 from baa 2 and commercial paper to not prime from prime 2
horizon industries inc hrzn 2nd qtr net
this was partly due to increased production in china and india
ore output will be cut but the higher grades will keep contained copper output at current levels of about 24000 tonnes a year it said
making similar statements when the market is high strung and ready to bounce is perhaps a mistake one senior dealer with a us bank said
gatt success will take pressure nz minister
cts and dca also agreed to dismiss all pending litigation between the two companies except for one appeal pending before the us supreme court relating to the indiana control share chapter it said
baldrige will meet south korean president chun doo hwan and trade minister rha woong bae on monday to discuss opening south korean markets to more us goods
us and japanese officials reviewed japans compliance with the agreement earlier this week
this bullish outlook for chemical manufacturing and an industrywide move to shed unrelated businesses has prompted gaf corp gaf privately held cain chemical inc and other firms to aggressively seek acquisitions of petrochemical plants
botswana has stopped importing almost all meat products from zimbabwe after reports of a suspected outbreak of foot and mouth disease in the neighbouring country
s and p said that if successful the debt financed acquisition would greatly increase the firms financial risk and cause a marked drop in earnings and cash flow
the government also announced it will provide up to 13 mln dlrs in loan insurance to help versatile prepare for the construction of the vessel
charan reported profit of 30 mln dlrs in 1985
activity in soybean oil resulted in decreases of 2400 tonnes with sales to unknown destinations down by 2700 tonnes while sales to canada increased 200 tonnes the department said
main ec desinations were netherlands 900000 600000 belgium 800000 one mln britain 700000 500000 west germany 400000 same italy 300000 200000 and greece 300000 zero
hi shear industries inc hsi 3rd qtr feb 28 net
final 1986 crop us cotton ginnings totaled 9438425 running bales vs 12987834 bales at the end of the 1985 season and 12544866 bales at end 1984 season the us census bureau said
jamaica puts cap on borrowing
manhattan federal court judge shirley wohl kram said she would rule monday on whether to grant a request to block a 78 dlr per share merger agreement between burlington industries inc and morgan stanely group inc ms the request to bar the merger was made by samjens acquisition corp a partnership formed by financier asher b
if confirmed the soaring 1987 current account surplus seemed certain to trigger tougher pressure from the united states which recorded a 74 billion dlr trade deficit with seoul last year government economists said
but there just isnt much talk about it informally or formally most analysts interviewed by were more confident than usda officials that bonus wheat would be offered to the soviets even though us officials did not make such an offer when they held grain talks with soviet counterparts earlier this week
pauls place inc control changes
the best way for bonn to help its exporters is to work actively to promote free world trade he added
the company said the suit filed in new york state supreme court seeks to halt the ongoing misuse and misappropriation of highly confidential and proprietary information concerning jwt and its clients
general acquisition said it is confident its offer can be completed in a timely manner using its financial arrangements
renault currently holds about 46 pct of amc
new hampshire savings bank corp said it agreed to buy seashore bankshares inc in an exchange of stock
samsung co calendar 1986
oper shr profit 11 cts vs loss 245 dlrs oper net profit 3594000 vs loss 819 mln revs 385 mln vs 482 mln note 1986 net excludes 685 mln dlr gain from debt extinguishment
lindner controls 1489298 shares of taft common stock or 162 pct of the total
gunnar gold in venture agreement
no bundesbank policy changes expected thursday
the uk based commodity house ed and f
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
uk money market given 40 mln stg late help
for the two week period he said there were relatively high excess reserves on a daily avearge almost all of which were at the smallest banks
the talks began last august the company said
cardinal industries cdni restates net lower
it said its financial adviser painewebber group inc pwj has stated in writing that subject to market conditions it is highly confident that it can arrange commitments for up to 475 mln dlrs in mezzanine financing
westinghouse electric corp wx 1st qtr net
payment date is april 2
a house banking subcommittee has approved legislation to limit the interest rates charged by banks and other credit card issuers
shr loss 28 cts vs loss 80 cts net loss 2150000 vs loss 3722000 sales 1478000 vs loss 2097000
danaher corp dhr 4th qtr net
ec watching gulf war developments
taft broadcasting says it will continue to review options in response to latest bid
resorts said the new company upon completion of the merger would hold the 220 mln dlrs of debt and that the special preferred stock would immediately be converted into exchangeable participating preferred of the new company
southold savings bank sdsbo 3rd qtr net
citibank said in its filing with the sec that it was premature to decide now whether the loans should be placed on a non perfoming basis a view that was echoed by spokesmen of several other major us banks
that the 40 billion stg psbr target was given credibility by the favourable outturn for 1986 87 which is now also forecast to be 40 billion stg
gencorp inc said its board urged shareholders to reject the hostile unsolicited 100 dlr a share tender offer made march 18 by general acquisition inc an affiliate of wagner and brown and afg industries inc
balances in tax and loan note accounts fell to 9706 billion dlrs from 10786 billion dlrs on the same respective days
the bank of england announced in february that it planned a possible series of experimental auctions for gilts similar to the system used to market us treasury issues with the first auction possibly in april or may
mccarthy noted that the slower money growth coincides with signs that the economy is losing momentum as the quarter progresses
foreign exchange fluctuations in 1986 were a very significant factor behind developments in the result before and after tax novo said in a statement
between april and december 1986 ccc issued 38 billion dlrs worth of certificates according to usda
rain was heavier than expected over the weekend sparking an early selloff in soybean futures at the chicago board of trade
western digtial corp said it has completed the redemption of its 47 mln dlr 6 3 4 pct convertible subordinated debentures due 2011
we are convinced that by the end of the 1988 financial year copper production could well be over 500000 tonnes due to greater availability of spares and equipment a zccm official said
but he said the gdp rise came as no surprise given the growth in exports disclosed in other statistics
proceeds and expenses from the secondary offering of bow valley industries common shares are for the account of the selling shareholders the company said
march retail sales for major us retailers store pct 1987 1986 sears 42 26 bil 25 bil k mart 46 22 bil 21 bil jc penney 13 11 bil 11 bil wal mart 32 11 bil 855 mln federated 49 934 mln 891 mln may 35 885 mln 855 mln dayton 48 792 mln 756 mln woolworth 02 591 mln 590 mln zayre 127 522 mln 464 mln
the loans would not represent any new money and as the loan would be the obligation of the new borrower there would be a repayment stream that could give the bank as much as 52 pct of face value by year seven one banker said
the figure takes into account the deep discount the holders received when they bought the issue
fire at tate lyle london jetty halts unloading
ccr said the negotiations would determine the terms under which the ccr board could support an intercep tender offer
shell uk chairman bob reid said the companys crude oil output from the north sea was at a record 373000 bpd in 1986 which would almost certainly prove to be a peak for the company
allis chalmers ah proposes restructuring
in addition pegasus said it began mining and processing operations at its zortman landusky mine one month ahead of schedule
us senate panel approves trade mission bill
banque de financement immobilier sovac bfim sovac launched an offer to repurchase its 1430 pct 1980 bond issue at a price of 2180 francs per bond a paris bourse statement said
the exchange rate was set 14630 yen to the dollar
moodys noted that the company intends to use a portion of the proceeds to repurchase existing debt
malaysias debt serving ratio of 176 pct of its exports in 1986 is within the prudency limit of 20 pct bank negara governor jaafar hussein told reporters
the finance ministry last april shortened the waiting period before issues could flow back to japan to 90 days from 180
year ago includes charge of five mln dlrs from discontinued operations
this is the first time current account figures have appeared in a seasonally adjusted form
ammar said thailand had benefited from an ec tariff loophole that subjects thai tapioca to a preferential six pct import duty
qtly div 15 cts vs 15 cts prior pay may 29 record march 31
the secretariat said the support price of sorghum was increased to 210 australs per tonne from 200 australs previously and for maize to 250 australs from 220 australs previously
north american philips corp is raising 100 mln dlrs via an offering of debentures due 2017 yielding 8809 pct said sole manager morgan stanley and co inc
five barges each week april midmississippi river dubuque south traded at yesterdays bid of 170 pct
the new fortune savings bank office had about 40 mln dlrs in deposits as of june 5
toshin steel co ltd tosst and azuma steel co ltd affiliates of nippon kokan kk nkktt are considering a merger company spokesmen said
fiscal 1987 year net excludes 4081000 dlr charge from early debt retirement
note full name is anglo american industrial corp ltd
it said a 156 mln us dlr four well program was planned for 1987
a return to the gold standard is generally dismissed out of hand by most policymakers on the grounds that the largest producers of gold are the soviet union and south africa
record male unemployment of 31 pct was set in july 1986
manufacturers national bank of detroit said it increased its prime rate to 7 3 4 pct from 7 1 2 pct effective immediately
pacific gas has raised its common stock dividend on a regular basis for the past 10 years a company spokeswoman said
the intervention rate was cut from eight pct on march 10 after being raised from 7 1 4 pct on january 2 to head off speculative pressure against the franc
he also said the proposed tax contravened not only article three of the general agreement on tariffs and trade gatt the lome convention and the united nations food and agriculture organization fao guidelines but also the ecs own treaty
deutsche bank finance nv curacao is issuing a 75 mln stg eurobond due april 2 1997 paying 9 7 8 pct and priced at 101 3 4 pct joint lead manager kleinwort benson ltd said
texaco tx says some oil flows re established
a spokesman for the european community commission defended the controversial plan for a levy on oils and fats saying that consumers would have to help alleviate the surplus problem by paying the proposed tax
prices in the year to february rose 316 pct compared with 303 pct in the year to january and 388 pct in the 12 months to february 1986
indonesian inflation rate 88 pct in 1986 87
us wheat in senegal market usda
the shipment of 22 mln barrels represents two days of oil consumption in brazil
enron corp said it will pay accrued second quarter dividends on the three series of preferred stock it will redeem on may 1
the bp official said the 70 dlrs a share offer is 72 times standards 1986 cash flow and 56 pct above an independent evaluation of the companys assets including the value of its oil natural gas liquids and natural gas reserves
revlon rev and macandrews and forbes to merge
qtr ends dec 31 shr one cent vs 15 cts net 466000 vs 6866000 revs 1231 mln vs 935 mln note the company changed its fiscal year end from aug 31 to dec 31
it said the well flowed oil from sands at an average rate of 1440 barrels per day from 2131 to 2135 metres through a 6mm choke
allegheny algho forming subsidiary
rubber leaf disease seen affecting supply prices
continental illinois cil raises prime rate
north american holding corp said it expects to have record fourth quarter earnings and for sales to exceed 10 mln dlrs
carme inc came 2nd qtr jan 31 net
wpp group extending expiration of its merger proposal to jwt group until june 22
silvano ghirardi head of the groups international marketing operations said he expects ciba vision to become possibly the second leading vision care products company in the industry by the end of the year
the cost of living rose by 891 pct
theres always movement up and down and the basic fact is that we believe the economy is strong and growing and there will always be fluctuations in the interest rate but the economy is sound and in good shape spokesman marlin fitzwater said
the two chains will have a total of 151 hotels with 67000 rooms and 71000 employees it said
striking brazilian seamen who say they have made idle 158 ships and halted brazilian exports today held pay talks in rio de janeiro with labour minister almir pazzianotto union officials said
the report said the index is now 12 points or 98 pct above its trough in march 1986
american pacesetter aec 4th qtr net
for the year ago quarter the company earned 22 cts a share adjusted for a three for two stock split on revenues of 242 mln dlrs
the bonds have a 6 3 4 pct coupon and were priced at 99938 to yield 60 basis points more than treasuries
it said the notes are to be redeemed april 20 at a price equal to 100 pct of the principal amount of the notes plus accrued interest
within the ems the mark is allowed to fluctuate against the guilder between 1101675 and 115235 guilders per 100
after nakasones statement the dollar rose to 14640 50 yen from an initial low of 14420 40 and new yorks friday finish of 14715 25
while its production was down venezuela nigeria and kuwait loaned ecuador a total 12 mln barrels of crude and four mln barrels of products santos said
the rise in pre tax parent company profit was due to lower extraordinary expenses and higher net interest income
the company said that if it elects to redeem the 1987 preferred it must pay holders 123 mln dlrs in cash
it said the joint venture to be 684 pct owned by grace and 316 pct by berisford would have annual sales in 1987 of over 700 mln dlrs
cargill 84695 tonnes number two srw wheat for may 5 30 at 11744 dlrs fob gulf
it said the agreement covers the divisions tire production facility in clinton tenn and its plants serving original equipment and replacement markets
in a statement bhp said the 25 cent par rights would be priced at 50 cents for 430 mln of the bhpgm shares on offer
the commerce has been slowly but surely moving encor in the direction that might make it a saleable asset said one analyst who asked not to be named
first wisconsin natl bank fwb hikes prime rate
shr loss 35 cts vs loss seven cts net loss 718269 vs loss 145216 revs 1394080 vs 2608083 note full name of company is standard bred pacers and trotters inc
most economists said they did not expect the fed to add reserves with federal funds trading below six pct
harkin said that under his policy approach farm participation would be no more mandatory than the current farm program
however the president of the brazilian coffee institute jorio dauster said yesterday he had not yet decided when its registrations would reopen
the cross field allowance will mainly benefit participators in those fields which have no prt liability the report said adding that the timing of development of such fields may be advanced
spanish banks will also be allowed to expand their foreign currency funding formerly obtainable through deposits by issuing certificates of deposit bonds and commercial paper
the government has not so far ordered the implementation of the tax decision
the cable system serves about 51000 subscribers in the communities of rockford loves park machesney park cherry valley morristown and winnebago county ill rr donnelly said
the bank of england said it had provided the money market with a further 168 mln stg assistance in the afternoon session
the renminbi has matched the us dollar fall he said
wagner blamed the realtive shrinkage of foreign business chiefly on the dollars fall against the schilling which is effectively pegged to the mark
he said national investment continued to be small because of a poor rate of savings about 14 pct of gdp
deposits of non bank customers also increased in january to 349 billion from 338 billion a month ago and 277 billion a year ago
he quoted miyazawa as telling japanese reporters that major industrial nations are aggressively intervening in currency markets worldwide to prevent a dollar free fall
bhp said the new company will be one of australias larger gold producers with annual output exceeding 170000 ounces
gatt meeting hears plea for african debt relief
intermec corp intro 2nd qtr sept 30 net
legal drafting of provisions will start next week and formal adoption of the new accord by the 40 countries taking part in the conference is expected to take place on march 20
on february 10 chrysler financial sold 200 mln dlrs of same rated seven year notes priced to yield 813 pct or 100 basis points over treasuries
finance ministers from major industrial nations should hold a special meeting to deal with the us dollars sharp decline helmut geiger president of the west german savings bank association said
a growing us economy has been serving as a huge market for debtor country exports
american communications astve gets exception
analysts and wall street sources doubted a competitive offer would emerge since the company has been for sale for sometime before the deal with hutton was struck friday
dealers will be morgan guaranty chase investment bank ltd shearson lehman brothers international and swiss bank corp international ltd
in a newspaper advertisement sosnoff said the bid by his mts acquisition corp withdrawal rights and the proration period will now expire june 19 unless extended
daily turnover in the tokyo spot market ranges between one and 10 tonnes with the average around three tonnes while futures turnover amounts to about four tonnes gold dealers said
us mine production of silver rose to 2295230 troy ounces in december from 2181082 in november the interior departments bureau of mines said
these were excluded on the grounds the subsidiary failed to sufficiently support cost recovery
synar who asked for the gao report after criticism of us action in a previous iea test said the united states successfully advocated a test limited to training participants in oil sharing procedures and the systems mechanical aspects
world governments should prepare for an inevitable significant increase in the price of oil as non middle east supplies diminish exxon corp xon director and senior vice president donald mcivor said
new gasoline grade to raise us refining costs
the sources said last friday that one option for britain would be to revoke licenses of japanese banks and securities companies operating in london
international business machines corps ibm credit corp subsidiary said it is calling for redemption on may 15 all 250 mln dlrs of its 9 7 8 pct notes due may 15 1988 at 101 pct of principal amount
the board also proposed requiring brokers engaged in dual trading elsewhere in the pit to record personal trades to the nearest minute and curbing trading between broker groups
the bond will be denominated in lots of 1000 ecus and will be listed in luxembourg
unilever aquired chesebrough for 32 billion dlrs in order to benefit from its well known toiletry brands and food products
certainly inflation is not as bad as what volcker fed chairman has said lately
the trade deficit in the first four months fell to 164 billion schillings from 175 billion in the same period last year while in april the deficit was 41 billion compared with 69 billion in march and 36 billion in april 1986
the us court of appeals for the second circuit upheld a lower court decision dismissing a suit by apex oil co against the new york mercantile exchange and several oil companies
unocal raises most crude prices 50 cts today wti at 1750 dlrs
japan is doing all it can to solve its trade problems with the united states but the two nations will remain at odds as long as the trade account is lopsided in japans favour a senior official said
the fed also revised the december industrial production figure to a gain of 05 pct from 03 pct originally reported
but bundesbank statistics showed that net borrowing through bonds was 266 billion
last year bad weather added to its troubles and output fell to 72 mln tonnes from 82 mln in 1985
financial terms were not disclosed
the domestic price index fell 01 pct to 919 in february its 24th straight monthly drop mainly reflecting falls in prices of home appliances such as colour televisions due to severe sales competition at home
economists said unemployment is expected to exceed 10 pct in 1988 against about 95 pct this year
however he did not say in his speech to the economic planning advisory council epac if the forecast 225 pct rise in gross domestic product gdp had been revised
the pound finished trading here today at 16040 50 dlrs and 29210 45 marks
convertible currencies totalled 18277 billion lire in may down from 20028 billion in april while european currency unit holdings were 10610 billion against 10528 billion
gatt round may stop growing trade problems us 
correction moodys cuts texas air in new york item headlined moodys cuts texas air tex affirms eastern moodys corrects that it lowered texas airs senior unsecured debt to b 3 from b 2 not the companys senior secured debt
revenues in the quarter ended march five increased to about 204 mln dlrs from 188 mln in the preceeding quarter and 94 mln dlrs in the year ago quarter
tamura referred to a 55 pct rise in japanese imports of ec manufactured goods in the year ended march 31
advanced said sterlings board has decided not to enter the nicotine product market
carrington said i am of course anxious to help in any way i can provided that both greece and turkey and the other allies wish me to do so
ec rejects wheat export bids grants barley
the us agriculture department usda earlier this year forecast a drop in 1986 87 coffee production in the ivory coast due to drought in the western part of the country
accordingly mulford said setting specific currency objectives and intervention to achieve those objectives would be counterproductive
production rose in all sectors except agricultural machinery and aeronautics where it stabilised and ship construction where it declined
under current law disclosure may be made as late as ten days after exceeding the five pct limit
the company also sold three properties and a part interest in a proposed hotel development which should result in extraordinary gains of 60 mln dlrs in 1986 according to james capel far east ltd
portugals agriculture minister alvaro barreto said he disagreed with a court order barring the state grain buying agency epac from taking part in cereals import tenders open to private traders
the current account in the two months of january and february swung to a surplus of 11 billion dlrs from a deficit of 494 mln dlrs in the same 1986 period
japans dowa mining to produce gold from april
the airlines cargo operations recorded growth of 21 pct in total tonnage over the previous year and a 359 pct rise in revenue to 179 billion dlrs
but i dont expect any convincing measures he said
one foreign banker said the development bank and the overseas union bank ltd have become major players in the equity market in singapore
in january the index fell 11 pct from a year earlier the first drop of over one pct since a 13 pct drop in september 1958
labour office president heinrich franke announcing the figures said the hesitant decline in the unadjusted jobless total reflected continuing bad weather slack activity in the capital goods sector and structural changes in the coal and steel industry
the japanese merchant fleet the largest after liberias has no intention of shifting to other countries to buy ships and this will encourage japanese yards the sources said
the previously announced record and distribution dates were may 13 1987 and june 29 1987 respectively the company said
purolator courier corp stock jumped 5 3 8 on a 40 dlr per share takeover offer from emery air freight corp eaf traders said
the taiwan dollar has appreciated by almost 15 pct against the us currency since september 1985 further encouraging speculators
white house says interest rates reflect market
cathay added new planes and was forced to fly some routes last year because of the threat of competition from dragon air said tsang
last year the surplus which measures trade in goods and services amounted to over four pct of gnp
and if things turned sour they could turn very sour a source quoted them as saying
lukman put the overall opec output shortfall in february at 900000 bpd and said this was as a result of their firm determination to defend official selling prices of 18 dlrs agreed upon last december in geneva
the us congress and the oil industry are deeply divided on ways the government should assist the industry hurt by the sharp fall in oil prices and the subsequent growth in oil imports industry analysts said
production dropped five pct to 25876 cars from 27381
the company said it made the transaction without suffering a loss
the companys test division accounted for about ten pct of total revenues in the year ended sept 30 1986 and is currently running a revenue rate of under two mln dlrs per year it said
dollar 90 88 sterling 143 138 swedish crown 204 206 norwegian crown 52 52 danish crown 52 53 german mark 193 196 m
foreign liabilities of the bundesbank were largely unchanged at 228 billion marks giving a rise in net currency reserves of 400 mln to 870 billion it said
total exports dropped to 250 billion dlrs last year against 297 billion in 1985
the bank of england said it had given the money market 206 mln stg of assistance this afternoon and offered the discount houses borrowing facilities to take out the rest of the 110 billion stg shortage revised down from an initial 115 billion estimate
the central bank bought a moderate amount of dollars to prevent its decline amid bearish sentiment for the us currency they said
what has been happening is an important shift in the economy which makes the ministry a very important place said james abegglen head of the consulting firm asia advisory service inc
they appear to be linking completely unrelated issues shuichi takemoto of the foreign ministrys north american division told 
weve not seen any lessening of competition from those countries that we can attribute to currency changes said bethlehem steels wendt
no injuries were reported at the lone rock coop facility
said it will sell its 49 pct holding in canadian building firm canadian foundation company ltd to rival banister continental ltd a company spokeswoman told skanska will receive banister shares as payment giving the swedish group 15 pct of the stock in the expanded banister firm
the bank added that the 1987 forecasts were also based on the assumption that the international economic situation and portugals world trade relations would remain more or less the same as in 1986
in a strongly worded statement terming the japanese action extraordinary and urgent the meeting reaffirmed the paris accord by noting that current exchange rates are within ranges broadly consistent with fundamentals or economic reality
however mining could only begin after foreign partners invest eight mln dlrs needed for technical equipment the spokesman said
earlier today london traders had declined to give a projected view on the level of subsidy although some said total tonnage awards would be around 60000 tonnes
the announcement sent investors today scrambling for gm shares with more than 32 mln shares changing hands by mid day
banctexas btx to sell affiliate
manila which has not made any principal repayments since 1983 wants terms better than the 20 year repayments at 13 16 percentage point over libor offered in october to mexico in a 77 billion dlr rescue
funaro noted that inflation in february had started to decline again and he expected brazil to achieve a minimum eight billion dlr trade surplus in 1987
numac oil and gas ltd nmc year net
new south wales treasury corp launches yen bond
coca cola ko says rumors incorrect
he recommended we should not lock ourselves into formalized procedures for international negotiations on exchange rates but instead use other more flexible means like the recent mmeting in paris between us treasury and central bank representatives and those of major trade allies
cyacqs press release does not amend cyacqs outstanding tender offer which remains at 80 dlrs per share and it does not state that cyacq has financing commitments necessary to carry out its original offer or any increased offer that it may make cyclops said in a statement
the deadline for the new pacts start is january 1989 and hofmeister has been mandated to continue selling rubber during the interim period
phelps dodge also said it is calling for redemption on the same date its privately held series a preferred stock
china trade deficit falls in january
the company last paid 50 cts per share in january 1986 and before that paid 60 cts in january 1985
shr 34 cts vs 29 cts net 167 mln vs 133 mln sales 6787 mln vs 5310 mln avg shrs 489 mln vs 458 mln 1st half shr 81 cts vs 69 cts net 395 mln vs 317 mln sales 171 billion vs 135 billion avg shrs 489 mln vs 458 mln note twelve and 28 week periods
computer terminal also said it sold the technolgy rights to its dot matrix impact technology including any future improvements to woodco inc of houston tex
dr
other owners are kerr mcgee corp kmg with 1666 pct and prudential insurance co of america with 334 pct
this brought consumption back down to the december 1986 level it added
chancellor of the exchequer nigel lawson also warned yesterday of the negative effects that a trade war could have on the british economy
the usda report said that so far the el nino now being experienced has not had an overall negative impact on agricultural production
bankers trust new york corp bt qtly dividend
another senior administration official said he was perplexed by funaros decision to discuss the latest crisis with governments and not with creditor banks at a time when brazil is in danger of losing short term credit lines
dome petroleum ltds 232 pct stake of gold producer dome mines ltd continues to be for sale at the right price spokesman david annesley said in response to an inquiry
nippon mining lowers copper price
us treasury secretary james baker said monday the united states as 345 pct shareholder and provider of the bulk of the banks resources should have more say in approving loans and conditioned a nine billion dlr increase in its contribution on approving the reforms
us corn demand growing in japan south korea
this is a change in the companys previous strategy
natural gas production fell by nine pct as a result of lower domestic and export sales it said
nissan motor co ltd of japan said it expects that it was profitable in the second half ended yesterday after a first half operating loss of 17 billion yen
the company said it expects to finalize an agreement before the end of the 30 day grace period on april 14
during the 1985 86 season imports totaled only 13 mln tonnes of us corn out of a total of 36 mln tonnes
allied signal said the unit had 1986 sales of over 90 mln dlrs
the total capacity of the champlin refinery is 160000 bpd of crudes and another 40000 bpd of intermediates
shr one ct vs five cts net 50745 vs 161019 revs 478700 vs 1048543 avg shrs 4350000 vs 3217500 nine mths shr four cts vs 12 cts net 169275 vs 390179 revs 1478066 vs 2658692 avg shrs 4350000 vs 3217500
texas american bancshares inc said it agreed to sell its texas american bank levelland unit to first american bancorp inc for about 12 mln dlrs in cash
the reserves comprise 1640779 tons proven reserves grading an average of 0163 ounces of gold a ton and 3262161 tons probable reserves grading an average of 0127 ounces of gold a ton
cargill inc of minnesota took two shipments totalling 83000 tonnes priced between 9200 and 9293 us dlrs per tonne c and f taiwan for september 5 20 september 10 25 delivery
precision aerotech inc par 3rd qtr jan 31 net
at the same time he said sprint had increased its total number of customers to four mln from two mln from july 1986 to last january
processed palm oil stocks in february fell to an estimated 193060 tonnes from 205060 in january and 225576 in february 1986
he said the agency has not yet received a formal notice of the merger which would start the review process
bundesbank leaves credit policies unchanged
reynolds did not specify whether the legal challenges were dropped or dismissed
the peoples daily said last saturday a serious drought is affecting 133 mln hectares of arable land which will reduce the summer grain harvest from last years level
the agency said its review would focus on the implications of danas aggressive balance sheet management on liquidity and financial flexibility
it the government would have to choose between the demands of the imf and those of the people a ministry of agriculture economist said
in addition to the foreign investors and us brokerage houses analysts said many of the major oil companies were also competing for prime properties
us drilling activity rose last week with the number of working rotary rigs up by 23 to 784 against 1063 working rigs one year ago hughes tool co
american travellers atvc to make acquisition
sri lanka should not be a member of the inra because it was expensive to maintain a buffer stock they added
banks are being invited to join the facility at four mln dlrs for 55 basis points and at two mln dlrs for 40 basis points
shr profit nil vs profit nine cts net profit 2000 vs profit 195000 revs 2623000 vs 2577000 year shr loss 21 cts vs profit 13 cts net loss 425000 vs profit 278000 revs 154 mln vs 8637000 note net includes capital gains of 63000 vs 211000 for qtr and 304000 vs 292000 for year
the sources added that spain had received no answer from the committee to its request that tenders be opened for the sale to third countries of 450000 tonnes of maize
united uil pact may lower noncash income
cut were zeniths senior debt to ba 2 from baa 3 convertible subordinated debt to b 1 from ba 2 and commercial paper to not prime from prime 3
the yield for tankoku issued on a discount basis is one point below the 426 12 pct interest rates for six month certificates of deposit today
in january automobile sales fell 19 pct department store sales slipped 32 pct and variety stores sales plunged 14 pct
famous restaurants inc fams 4th qtr loss
they said the gesture refelcted close political ties between jordan and iraq as well as baghdads financial difficulties
georgia pacific gp debt upgraded by s p
tribune co said it filed a shelf registration with the securities and exchange commission for 300 mln dlrs in debt securities
in a filing with the securities and exchange commission that details its proposed 69 dlr a share cash tender offer for piedmont usair said manufacturers hanover trust co mhc indicates its willingness in a march 6 letter to provide up to 500 mln dlrs of the financing
ibj establishes 200 mln stg cd programme
pre tax profit 506 mln stg vs 452 mln making 151 billion stg vs 135 billion
herringtons proposal was reported by the washington post to have been made in a letter to reagan submitting a study that found the united states would be importing half of its oil by the 1990s threatening us national security
the letter of credit would ensure payment of princevilles contingent subordinated notes to be distributed to shareholders of record on the day immediately following completion of qintexs tender for 3300000 princeville share
the newly acquired salem operation has management responsibility for about 2500 beds in 28 nursing homes in seven states
westpacs chief economist bob graham said the consistent upward trend in the leading index emphasised the need for a tough mini budget in may
but shareholders sued and a court blocked completion of the offer
the king replied saudi arabia doesnt decide prices by itself but certainly desires price stability non opec countries must help us in a framework of common interest so that there is no type of competition which could prove harmful to everyone he said
viacom international inc gets another new national amusements bid
nuclear metals inc said a delay in receiving certain new orders will result in negligible earnings per share for its fiscal second quarter
royex said that if it gains four mln corona common shares its interest in corona will increase to 50 pct from 38 pct
egypt authorized to buy pl 480 wheat usda
overseas said 73 pct of its fleet handles liquid cargo
eastpark realty trust ert qtly div
the central bank of zambia said the kwacha was pegged at 1699 to the dollar compared to last weeks rate of 15 to the dollar
under the old system introduced during world war two and due to be phased out by april 15 some 50 mln ration cards were issued enabling poor people to buy wheat cheaply
frontier insurance group inc said it is currently negotiating to acquire the business of medical quadrangle inc formerly its largest medical malpractice insurance producer and the business of its other malpractice producer medical professional liability agency inc
the company said the price cut will bring the contract barge price for heating oil to 51 cts a gallon
they also have to recognize that they cannot in the long run develop a healthy and stable farm sector on the basis of protectionism and excessive subisdies
together these activities account for over 180 mln french francs in annual sales and employ 170 akzo said
american stores co asc 4th qtr net
he gets to share in the upside if the company is sold another arbitrageur said he expects gillette to resist perelmans overture
in most cases the government has allowed the companies to maintain the oversubscribed amount brokers said
he said the takeover move could be seen as bnls reply to deutsche bank ag dbkgf which entered the italian market in december 1986 with the purchase of bankamerica bacn subsidiary banca damerica e ditalia nesi said bnl had also approved a 200 mln dlr credit line to the soviet union aimed at enabling soviet companies to pay for italian imports
rolls royce seeks 250 mln stg credit facility
uaw says it back chrysler c amc amo merger
japans february exports rose to 1674 billion dlrs from 1489 billion in february 1986 and from 1465 billion in january the ministry said
neco npt bidder extends tender offer
the yens rise against the dollar is expected to boost japans unemployment rate to an average 33 pct in the 1987 88 fiscal year beginning april 1 from januarys record three pct the private nomura research institute said
there is a call at par from the end of the third year
speaking at a forum for industrialists he said one of the reasons was that the market was already saturated and that producers will have excess production and stockpiles of 39 mln 60 kg bags in 1987
sterling outlook clouded by test of paris accord
the joint committee of taiwans soybean importers will reopen a tender tomorrow for two shipments of 54000 to 66000 tonnes of us soybeans a committee spokesman told 
the wells the biggest onshore well in the country are on the banks of the river uruc in the amazon basin 3600 kilometres 2250 miles north of brasilia
the bank of england said it was taking onto its books a further one billion stg tranche of 8 3 4 pct treasury loan stock due 1997 payable 40 stg pct on application
sycamore has 111 womens apparel stores in indiana ohio illinois kentucky and michigan may said
the so called fixed rate system scuttled in the early 1970s is still considered unworkable in the present world
tian said the government still considered that the fecs had many demerits and negative influences bank of china president wang deyan told earlier this month that he thought it unlikely that the certificates would be scrapped this year
mthly div 66 cts vs 66 cts prior pay april 30 reord april 15 note franklin minnesota insured tax free income fund
goria said italys own ships were far from the platform at the time of the attack and the fleet had been advised to follow events with caution
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
but 80 pct of the sample said support for a fee could grow if production continued to fall and imports to rise
cattle slaughter is guesstimated at about 120000 to 126000 head versus 120000 week ago and 124000 a year ago
widespread soaking rains aided crop development across the province with the northwest crop producing region receiving the most precipitation according to the manitoba agriculture weekly crop report
uk money market given further 191 mln stg help
wright has made suggestions for raising taxes about 20 billion dlrs as part of a budget plan to reduce the deficit
french government to step up aid to jobless
american resource corp ltd year net
the intrepid museum foundation reiterated that it is continuing negotiations with its official bondholders and creditors committees concerning the terms of a chapter 11 plan of reorganization
since they are the hosts we feel its up to them if they want to say something one regional bank official said
a further release from the company will follow it said
it said the soviet economy grew by 42 pct in 1986 gorbachevs first full year in power twice the average rate of growth over the previous 10 years
prices quickly fell by a full point even though the dollar the markets overriding concern of late rose sharply on the news
the issue would be designated 8 3 4 pct treasury loan 1997 b a further 100 mln stg was reserved for the national debt commissioners
the non callable bond is available in denominations of 1000 and 10000 australian dlrs and will be listed in luxembourg
leroy a
there are currently 30 mln dlrs principal amount of the debentures outstanding the company said
while m 1 may have lost its significance as an indicator of economic growth sullivan said fed officials might be concerned the latest drop in m 1 means another month of sluggish growth in the broader monetary aggregates m 2 and m 3 which are seen as better gauges of economic growth
general motors corp staged an explosive rally on wall street after a share buyback program announced yesterday but analysts said gms future remains clouded by stiff competition and erosion of market share
this was better for us relations with the gulf arab states particularly kuwait commented another diplomat kuwait must be happy that the us has done something but relieved that faw was not attacked on its doorstep one source said of the attack on the oil platform they managed to warn off the crew and hit something that was the least nuisance to everybody a diplomat commented they were very clever in the place they chose
but his hopes for quick passage of the budget in time for his trip have been shattered by a parliamentary boycott by opposition parties protesting over the sales tax plan
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
american electric aep unit to redeem debt
in the 1985 86 financial year pre tax profit rose to 181 billion stg from 148 billion
shr 42 cts vs 42 cts net 191 mln vs 195 mln revs 1849 mln vs 1851 mln 12 mths shr 217 dlrs vs 253 dlrs net 970 mln vs 1118 mln revs 7933 mln vs 8288 mln avg shrs 409 mln vs 405 mln note year ago restated
fhlmc frepr 4th qtr net
volcker sees no clearcut evidence that us trade deterioration has yet been reversed
am international am cites strong prospects
the company said the split is payable april 17 to holders of record march 25
linde will ask shareholders at the annual meeting on may 13 to raise authorised share capital by a maximum 30 mln marks nominal for the issue of share warrant bonds with a maximum issue volume of 200 mln marks
production is set to begin in third quarter 1989
cbt leaders plan april trip to far east
i would think that the debtholders would want to entertain any and all offers for dome gobert said
charter said some of the settlements remain subject to appeals and final court approvals and resolve claims against charter and its subsidiaries except independent petrochemical
china postpones plan to scrap parallel currency
the stock pays annual interest on april 1
asked why some features of the debt agreement such as the token prepayments of principal were not made public immediately he said these are very long documents and in a press statement you can only cover the key points
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
oracle systems corp said it has filed for an offering of 2300000 common shares after adjustment for a recent two for one stock split including 800000 to be sold by shareholders
next world trade negotiations must succeed nz
roughly half of this years expected 130000 hectare dutch sugar beet crop is already in the ground a spokesman for suiker unie the largest sugar processor in the netherlands told 
thatcher said this policy had not contributed to the fall in oil prices as north sea production was now about the same as in 1984 when prices were close to 30 dlrs a barrel
lawson says he favours gradual approach to cuts in uk interest rates
mitsui and co to issue eurodollar warrant bonds
the bond is available in denominations of 10 mln yen and will be listed in luxembourg
scotts hospitality inc said it acquired all issued shares of capital food services ltd of ottawa
earlier allis chalmers said it executed a letter of intent to sell its solids processing equipment and minerals systems businesses to boliden ab of sweden for about 90 mln dlrs
under the new rescheduling agreement reached february 27 payments on venezuelas public debt were extended from 12 to 14 years and the interest rate dropped from 1 and 1 8 to 7 8 of a pct above libor
zambias kwacha falls at weekly auction
the cartagena group which has not met at ministerial level for over a year wants to repay debt contracted before the debt crisis at the low interest rates prevailing in the 1970s
osr osrc to make acquisition
during 1988 and 1989 the cost escalation of the first half of the 1980s will reverse
the us treasury said it was willing to participate with several other industrial countries in providing a 500 mln dlr short term bridge loan to argentina
us minerals exploration co said it and pegasus gold inc pgulo of spokane wash officially commissioned a new gold zinc and lead producing mine
he said the outlook for the medium duty truck market continues to point to little or no change
lyngs remarks came in a speech at oklahoma state university today
morgan stanley ms issues mortgage bonds
clevite clev gets 1350 dlr shr offer
they said japanese trade houses sold up to three cargoes of thai sugar for relatively nearby delivery
dayton hudson corp said retail sales for the five weeks ended april four were 7918 mln dlrs compared to 7556 mln dlrs a year ago
on february 22 the united states japan west germany france britain and canada agreed that major currencies were within ranges broadly reflecting underlying economic conditions given commitments by washington to cut its budget deficit and by toyko and bonn to boost economic growth
assets totaled 4659 billion dlrs at the end of april compared with 4882 billion dlrs at the end of march the treasury said
the heavier wilmington grade at 17 degrees was increased 120 dlrs to 1430 dlrs bbl
alfa laval ab alfsst 1986 year
the recent failure of the london coffee talks had surprised market observers
the ten principal destinations during january december 1986 with comparative figures for the same period of 1985 in brackets were as follows in tonnes iran 212043 209177 holland 204558 215784 soviet union 173060 266389 egypt 163119 164252 algeria 116330 11492 south africa 105230 110064 brazil 101599 103142 cuba 89957 98740 united states 80109 44826 india 67182 17403 the board said
the ec commission decided to open a special daily export rebate today for maize exports to morocco israel canary islands and zone 5c sub saharan africa trade sources said here
golden west financial corp gdw 1st qtr net
everyone is talking about it assessing their companys situations in relation to texaco he added
shr 277p vs 207p div 60p vs 55p making 100p vs 925p turnover 134 billion stg vs 129 billion pretax profit 480 mln vs 324 mln tax 144 mln vs 69 mln company name is bowater industries plc bwtrl trading profit 634 mln vs 451 mln trading profit includes packaging and associated products 232 mln vs 142 mln merchanting and services 184 mln vs 96 mln tissue and timber products 90 mln vs 58 mln interest debit 154 mln vs 127 mln minority interests 70 mln debit vs 62 mln debit extraordinary items 154 mln credit vs 119 mln debit
institute sees wgerman output fall in 1987
national said it entered into a new agreement with signature which would have owned about 80 pct of nationals common under the prior pact
lead underwriter for the offerings both of 75 mln dlrs is merrill lynch capital markets
transco energy e calls 3875 dlr preferred
it said a bank can sell the bonds on the secondary bond market for either dlrs or pesos depending on its requirement
nine pct of husky would be owned by relatives of li ka shing chairman of hutchison and five pct by the canadian imperial bank of commerice
this could make it difficult to improve the industrys structure the paper said
georgia pacific corp said its second quarter results will include a gain of 60 mln dlrs pre tax or 34 cts per share after tax from the sale of its interest in georgia gulf corp the company said it is selling warrants for about 18 mln shares of georgia gulf common stock to goldman sachs and co in connection with the 48 mln share offering of georgia gulf
us business loans fall 108 billion dlrs
dome petroleum ltds proposal to restructure debt of more than 610 billion canadian dlrs includes provisions that may force the company to sell its 42 pct stake in encor energy corp inc dome said in a us securities and exchange commission filing
shr 26 cts vs 38 cts net 440 mln vs 650 mln note1986 net includes one mln dlr extraordinary gain and 1985 net icludes four mln dlrs extraordinary loss
the us currency dipped sharply earlier this week after a month of relative stability after an agreement by six major industrialised nations in paris on february 22 to stabilise their currencies
the diplomats said they were backed by britain and france while italy greece and denmark supported the commissions view that bonn should bring in new measures to aid ec growth
deilmann inc of west germany said the firm had earmarked at least 50 mln dlrs to spend on oil reserves in texas oklahoma or louisiana in the coming months
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
the timing and amount of the proposed purchases will depend on the prevailing market price and trading volumes in the units to comply with securities and exchange commission regulators tenera said
economists said that low mortgage rates also were a spur to building last month
full name of company is american savings bank fsb of new york
pope evans and robbins inc said it has repurchased 780000 common shares from putnam mills corp principals sidney and peter kaplan for 225 dlrs per share
philippine sugar production in the 1987 88 crop year ending august has been set at 16 mln tonnes up from a provisional 13 mln tonnes this year sugar regulatory administration sra chairman arsenio yulo said
sen
nogales told in an interview the steering committee of bolivias creditor banks had agreed to consider the offer at a meeting in new york last month
panamanian wheat ship still grounded off syria
xicor inc xico offering of 18 mln shares of common stock through montgomery securities and smith barney harris upham and co inc
ec grants free market barley maize exports
commerzbank declined to say how much it had paid for linotype
the new daily limits apply to all but the two nearby positions currently may and july which trade without limits
in april the current account recorded a deficit of 300 mln schillings compared with an 800 mln surplus in march and an 800 mln deficit in april 1986 the bank said in a statement
banca nazionale del lavoro an italian bank will obtain a security interest in tidewaters assets in italy
shr 313 dlrs vs 202 dlrs net 391 mln vs 269 mln revs 2032 mln vs 1738 mln
the current account surplus which includes trade in services as well as goods climbed to 738 billion dlrs last month from 495 billion in january and 389 billion a year ago
a samjens lawyer argued that if the judge granted the injunction it would kill the offer jay greenfield an attorney for samjens said the partnership would suffer irreparable harm if the injunction were granted
dale burdett inc faces damage claim
trade sources have said alcoa is long call options equal to 30000 to 50000 tonnes of aluminum due to mature in april and may
in the year to january inflation ran at 1024 pct after an 113 pct rate a month earlier and 972 pct a year earlier
ec external trade commissioner willy de clercq has already written to his us counterpart special us trade representative clayton yeutter outlining the ecs concerns
benson was charged with demanding kickbacks from sales representatives who were asked to turn over a portion of their commisisons as a condition for doing business with empire
the officials confirmed a new york times report that kuwait wants to transfer some of its oil tankers to us or soviet registration in hopes iran would be reluctant to launch new silkworm missiles at superpower flags
in the years immediately prior to 1986 we focused on changing the look of our stores and the structure of the company k mart he said committed billion of dollars for store remodeling and installing a centralized point of sale system upgraded its merchandise mix acquired three large specialty retailers divested underperforming businesses and restructured its long term debt
in february 1986 the current account had shown a 685 billion mark surplus and the trade account a 684 billion surplus
opec president lukman expects short calm meeting
impending crop problems in argentina will likely cause those prices to rise and with the recently strong us corn futures prices the soviets might feel corn prices have bottomed and that this is a good time to buy sources said
the rating agency expects nonperforming loans to remain high by industry standards because of exposure to energy and real estate
the government estimates it will take about four more months to repair the lago agrio to balao pipeline and return output to normal levels the spokesman said
six and 12 month bills both dropped nine basis points to respective bids of 570 pct and 575 pct
shr 22 cts vs 13 cts net 3166000 vs 1780000 sales 304 mln vs 169 mln avg shrs 146 mln vs 140 mln nine mths shr 56 cts vs 33 cts net 7961000 vs 4562000 sales 788 mln vs 447 mln avg shrs 143 mln vs 139 mln
american stores asc may be downgraded by s p
brazils september trade surplus was the best so far this year totalling 1494 billion dlrs compared with 1434 billion dlrs in august and 540 mln dlrs in september last year banco do brasils foreign trade department cacex director namir salek said in a news conference
national semiconductor corp nsm fourth quarter
cancapital says it sold poco shares
oper shr profit 21 cts vs loss 55 cts oper net profit 1528000 vs loss 3296000 sales 3294 mln vs 3680 mln 1st half oper shr profit 28 cts vs loss 455 dlrs oper net profit 2026000 vs loss 273 mln sales 6913 mln vs 7382 mln note prior half net includes pretax charge 214 mln dlrs from plant closings and workforce reductions
both poehl 57 and stoltenberg 59 have been under extraordinary pressures lately
bayly corp said it acquired 55 pct of chutes corp a maker of denim oriented sportswear headquartered in seattle wash
westamerica bancorp wab 1st qtr net
but they generally agreed that these instruments provide the borrower with greater flexibility and lower costs than a traditional bond
gramley said he is worried that consumer spending may slow because inflation is rising faster than real wages
in response to a question roderick also said he did not know whether australian investor robert holmes a court was accumulating usx stock
deliveries must be completed no later than two business days prior to the end of the delivery month
the main reason for a low western australia estimate was a poor profit outlook under cost credit and yield pressures
pentair pnta files to offer preferred
one of their leaders orlando dos santos told that most of the 1100 seamen in the port offered their resignations on wednesday
the national banks currency reserves rose by 18 billion francs against a 28 billion rise in 1985
argentine subproducts shipments during january december 1986 totalled 5618315 tonnes against 4815188 tonnes in the same period of 1985 the argentine grain board said
offers are due by 1200 hrs edt april 13 and will remain valid until the close of business april 14 the agent said
the port and transport union fnv is to challenge the redundancies in an amsterdam court tomorrow
bolivia said it expects to export less tin this year than its allocated 13761 tonne quota
the companies said that after the proposed merger the combined banking holding wil be among the 25 largest in the country
shr 72 cts vs 58 cts net 4791000 vs 3803000 sales 830 mln vs 720 mln avg shrs 6668309 vs 6545722 1st half shr 88 cts vs 70 cts net 5872000 vs 4614000 sales 1416 mln vs 1218 mln avg shrs 6669488 vs 6525051
general motors corp said it produced 395294 cars in the us in march up from 366671 in march 1986
it said mobil bought 73 mln dlrs of crude oil and oil products from china in 1986 and sold it lubricant and fertiliser but gave no more details
usair u cuts piedmont pie shares sought
hj heinz raises quarterly to 28 cts from 25 cts
anything could happen one delegate said
schlesinger now has a majority of support in the bundesbank council and since late summer poehl has had to represent his views bankers said
the bundesbank came into the market when the dollar was around 14810 yen just after it had fallen below 148 to touch 14780 at 1027 gmt
the official said there had been a delay in gathering information for the data which are expected to show that the west german economy contracted in the period
investor albert kahn said in a statement that a group he heads increased its stake in trans lux corp to 89 pct from 81 pct on a fully diluted basis
standard and poors noted that resorts international remains highly leveraged with significant near term financing requirements for the completion of its new casino hotel in atlantic city the taj mahal
its a very tight time frame ontarios peterson said last night
however revaluations and profits on sales of other assets will significantly reduce this loss he said
the company reported net income for 1986 of 373 mln dlrs or 145 dlrs per share
standard and poors corp said it is keeping gencorp incs 100 mln dlrs of bb plus subordinated debt on creditwatch with negative implications
franco nevada mining corp ltd said the gain in its stock price today is related to deep drilling being conducted by american barrick resources corp abxff at the goldstrike claims in the carlin camp in northern nevada
cheung kong holdings ltd ckghhk year 1986
cofab inc said it acquired gulfex inc a houston based fabricator of custom high pressure process vessels for the energy and petrochemical industries
management intends to include the charge and writedown in response to the preliminary findings
partners on the field are statoil the operator with a 55 pct share unocal norge a s 18 pct deminex norge a s 135 pct norsk hydro a s nhyol nine pct and svenska petroleum ab 45 pct
the us agriculture department estimated 1987 spring potato production based on april 1 conditions at 19267000 cwts 100 lbs vs 19822000 cwts indicated last year
the 1984 restraints established that for 1987 brazils steel exports to the us could not exceed 632000 tonnes increasing to 640000 tonnes in 1988 and 670000 tonnes in 1989 the last of the five year deadline set by the agreements
sharp operates 38 offices in 20 countries
the prospects of the international coffee organization ico reaching an agreement on coffee export quotas before september appear dim alberto hesse former president of the european coffee federation said
ball corp said it completed the purchase of privately held verac inc a san diego defense systems and software development company
bow valley bvi to sell norwegian subsidiary
mts acquisition had talks with pratt hotel southmark on caesars world purchase
nazer said opec estimated demand for its oil during third quarter this year would be around 166 mln bpd
belonging to ipma carries a certain amount of prestige with borrowers said a dealer at a small foreign bank
we must make our utmost effort to ward off any catastrophe ministry of international trade and industry miti deputy director general masaji yamamoto told reporters
3 and no
the standard price of other beef mainly produced from dairy steers is now 1090 yen per kilo and the ceiling is 1420 the officials said
escagen corp esn completes initial offering
applications at the lowest accepted price of 97625 stg were allotted around 81 pct of the amount applied for and applications above that price were allotted in full the bank of england said
jwt group inc has not been approached by former ted bates worldwide chairman robert jacoby about the possibility of a syndicate buying a 35 pct stake in jwt group on a friendly basis a company spokesman said
trade ministry officials said south koreas exports rose 35 pct to 934 billion dlrs in the first three months of this year while imports rose only 85 pct to 82 billion dlrs
as ive said before we sort of see ourselves as engaged here in a real struggle to preserve the worlds free trading system because if the largest market in the world the us goes protectionist we run the risk of moving down the same path that the world did in the late 1930s he said
in a newspaper advertisement the firm said the offer proration period and withdrawal rights expire november 17 unless extended
miller said an economic slowdown could lead to lower tax revenues and a widening of the budget deficit
it said the new company was formed by senior management of the three railway product units and kleinwort benson group of london
officials at yesterdays crisis meeting said it was decided to uproot only some of the affected trees while others would be treated
robert lamp consuls chief financial officer said the company needs to have at least 90 pct of the bonds exchanged in the transaction to report a profit in the first quarter of fiscal 1988
the new rules require parliamentary approval and government sources said it was unclear when they would come into force
the company also said its board has withdrawn authroization for the company to buy its stock on the open market
the groups net return on capital was seven pct
consumers power cms cogeneration qualified
the finance ministry said today that the trade surplus soared to 814 billion dlrs in february from 57 billion in january and 477 billion a year ago
we made it very clear to our creditors that we must find other means to pay our debt
the dollar is stable again the current level is the appropriate level heller told reporters after a speech to a meeting of financial services analysts
perus reserves fell sharply due to a drop in the trade surplus to about five mln dlrs in 1986 from 11 billion in 1985 according to preliminary central bank estimates
we are not pushing this place into a recession
uk money market given 53 mln stg assistance
the bill would permit winter wheat producers prevented from planting their 1987 crop last fall to receive 92 pct of the deficiency payments they would have received
higher growth unemployment in france oecd says
we think we are beginning to see changes he told the house appropriations committee
general partners which estimated the total cost of the takeover at 25 billion dlrs also said it plans to continue gencorps policy of trying to settle federal communications commission charges against two of its television and 12 radio station licenses
metromail corp said it expects flat operating profits for its 1987 fiscal year ending may 31 with last fiscal years earnings from operations of 9943000 dlrs or 105 dlrs a share
baldrige says us to go ahead with japanese sanctions
messidor ltd said it signed a letter of intent to acquire 100 pct of the outstanding shares of triton beleggineng nederland bv a european investment portfolio management company
coffee could drop to 70 80 cts cardenas says
details of the purchase were withheld
volkskas predicted the rand will remain fairly steady for the rest of 1987 and then ease slightly next year
federal reserve board vice chairman manuel johnson said the dollar has stabilized against other currencies after action taken by the fed
but money market rates have risen contrary to expectations and the company has shelved its plans for the time being
venezuela has almost no debt outstanding to multilateral agencies
den danskes us domestic commercial paper program is rated a1 by standard and poors and p 1 by moodys rating agency salomon said
buckhorn said the years results included a 4250000 non recurring expense incurred to complete major restructuring efforts and to defend against the hostile tender offer from ropak corporation
but there has been no independent confirmation of todays supertanker attack nor of other raids on shipping reported by baghdad in the past 24 hours
scotia mortgage corp is issuing a 100 mln canadian dlr eurobond due april 9 1992 paying 8 3 4 pct and priced at 100 3 4 pct lead manager wood gundy ltd said
senior us officials have accused tokyo of failing to live up to the accord and have threatened retaliatory action
sayad was one of the architects of last years plano cruzado program which froze prices ended widespread indexation of the economy and introduced the new cruzado currency to replace the cruzeiro in a bid to cut the 250 pct annual inflation rate
kidston gold mines ltd attributed the rise in 1986 net profit to higher prices and an increase in gold sales to 237969 ounces from 206467 ounces in 1985
the issue was increased from an initial offering of 40 mln dlrs
i think theres a major earnings surprise in the winds he said
the operation will put the outstanding bill supply at about 1900 billion yen money traders said
on june 25 datacard filed suit in hennepin county district court in minnesota to block the sale of the 38 pct stake of its stock to national computer
in addition it bought 63 mln stg of band three bank bills at 9 3 4 pct
the company said the special interst rate program applies to ann new 1986 and 1987 pontiacs sold from dealer stock and delivered to customers during the program period
the only change that could happen is because of the volume we would be told that from such a date registrations would be for june shipment etc arango said
includes tax benefit for prior qtr of approximately 150000 of which 140000 relates to a lower effective tax rate based on operating results for the year as a whole
i consider the strident tone of us declarations on airbus ill advised and the ec fats and oils tax proposal a dangerous provocation he said
basf will start non woven fibre production in the us in 1988 enka said
bahia cocoa review
no date has been set for the talks the spokesman replied to a query
great american management and investment inc told the securities and exchange commission it acquired a 77 pct stake in atcor inc
it will initially employ 29 aiming to increase numbers to 35 by the year end it said
completion of the proposed transaction is subject to hurons ability to hire an experienced work force at competitive rates and receive government approval of the purchase and operation of the plant swift said
the strains have not gone unnoticed in washington
fees comprise 1 3 8 pct selling concession and 5 8 pct management and underwriting combined
gasoline prices rose by 55 pct last month after a 157 pct january rise the department said
honeywell bull seeking 400 mln dlr facility
they would however be reflected in the assignment of risk weights
the conversion price has been set at 463 yen per share compared with todays 450 yen close
one uncertain factor is the course of the iran iraq war
he said that at present there was virtually no sugar held in intervention stores
groups of major banks had decided that the international arena was not to their liking
trans world airlines twa files on usair u 
showa aluminium issues 100 mln dlr warrant bond
egypt seeking 500000 tonnes corn us traders
the following proposed securities offerings were filed recently with the securities and exchange commission general instrument corp grl offering of 150 mln dlrs of convertible subordinated debentures due 2012 through an underwriting group led by lazard freres and co dillard department stores inc ddsa shelf offering of up to 100 mln dlrs of debt securities including debentures and notes and a shelf offering of another 100 mln dlrs of debt securities by its dillard investment co inc subsidiary both through goldman sachs and co
the us in july proposed to gatt the elimination of all farm subsidies affecting trade within ten years and has pressed the ec to make a counter offer with the aim of reaching a global farm subsidy agreement by the end of 1988
asked whether reagan was ready to cast a veto rodriguez said as yet the administration is not in a veto frame of mind
conditions in some sectors of the euromarket remained difficult last quarter with floating rate notes suffering heavy price falls but a spokeswoman was unable to say whether morgans trading losses were restricted to the euromarket
similarly when buffer stock purchases or sales amount to 300000 tonnes there would be an automatic adjustment of three pct under the new accord unless the council decides on a higher percentage
the central bank bought 31 mln stg of bank bills outright in band two at 9 13 16 pct
the federal reserve board voted unanimously to propose a formula for calculating the risk of interest rate and currency swaps as part of its ongoing effort to come up with a new capital standard for us banks that takes into account the riskiness of a banks loans and other assets
the world bank said it approved a 25 mln dlr structural adjustment loan for mauritius to aid that countrys industrial sector
the initial distribution will include all the cash stock and debentures received in connection with the sale the company said
eurotunnel the anglo french channel tunnel consortium will offer potential backers a wide choice of ways to invest in a planned 750 mln stg capital issue later this year co chairman alastair morton said
he said the united states has some of the most efficient capital markets in the world and new taxes would impair efficiency
rico noted that the possible formation along with the fact that the rally of the last two weeks in bond futures has occurred on relatively low volume were negative signals
but jardine was also subject to increased taxes of 340 mln dlrs last year against 292 mln in 1985 they said
in this connection they welcomed the proposals just announced by the governing liberal democratic party in japan for extraordinary and urgent measures to stimulate japans economy through early implementation of a large supplementary budget exceeding those of previous years as well as unprecedented front end loading of public works expenditures
it was to have expired yesterday
redstone said exclusive contracts with pay television networks are the emerging trend
neoax inc said it has agreed to sell the assets and business of its novatronics division to veeco instruments inc vee for 20 mln dlrs
alex brown and sons inc co managed the deal
shr 31 cts vs nine cts net 1345000 vs 368000 revs 319 mln vs 264 mln nine mths shr 91 cts vs 40 cts net 3890000 vs 3556000 revs 893 mln vs 717 mln note 1986 qtr and nine mths include loss 831000 dlrs or 19 cts per share and loss 1872000 dlrs or 44 cts per share respectively from discontinued operations
it said the rights will be distributed as a dividend and will become exercisable if a party acquires 20 pct or more of its common or begins a tender offer for 30 pct or more of its stock among other things
we hope this need will not be affected negatively by trade legislation rodriguez said we need to keep the market opens especially the us market to obtain the necessary foreign exchange not only to service the debt but also to continue national development progress president reagan has said he would veto any legislation he termed protectionist and his aides now are mounting a effort to water down some of the objectionable provisions in the legislation
saudi arabian crown prince abdullah bin abdul aziz was thanked by the reagan administration for his countrys close and closed mouthed cooperation with washington in the gulf a senior us official said
forstmann little and co to sell unit
of this the net sale of danish crown bonds to other countries totalled about 25 billion crowns
profits were swollen by earnings from the placement of the former flick group which have been estimated at some one billion marks and from record profits in trading on the banks own account not included in partial operating profits
canada allows publishing takeover by harcourt
the province of quebec is issuing a 30 billion yen eurobond due may 7 1997 paying five pct and priced at 102 1 2 pct lead manager bank of tokyo international ltd said
grain analyst and meteorologist gail martell author of the ef hutton publication global crop news said in her latest report that the soviets may import more grain possibly wheat from the us due to potential crop damage
economic spotlight china must preserve farmland
for march the working interest owner will place 19 mln dlrs in special cost escrow accounts
hawkeye also said it issued 233983 shares of common stock in exchange for 14766 shares of preferred upon completion of a previously announced exchange offer to holders of preferred
contel corps telecommunications equipment unit is the most likely candidate for sale by the atlanta based telecommunications company wall street analysts said
for the government the one positive development on the labour front was the gradual return to work of the nations 40000 seamen who began a national strike on february 27
us treasury secretary james baker met west german finance minister gerhard stoltenberg and bundesbank president karl otto poehl today in west germany and agreed to support the louvre pact the treasury department said
japan aluminium imports rise in february
usda denies changes in texas gulf differentials
shell canada schedules annual refinery shutdown
proceeds will be used to repay short term indebtedness and for general corporate purposes which may include acquisitions waxman said
hawkeye hwkb issues preference stock
the company said the costs of a restructuring at its carter hawley hale stores inc unit and the previous purchase of an 85 pct stake in cadbury schweppes plc will lead to the flat net figure
bankamerica also said it completed yesterday the previously announced sale of its discount brokerage subsidiary charles schwab corp
the officials told that if the sale went through it could leave the us military overly dependent on a foreign ompany for vital high technology equipment used in its advanced missiles aircraft electronics and intelligence gathering
qtly div 42 cts vs 415 cts prior payable april 28 record april 14
em warburg currently manages 15 billion dlrs in venture capital funds and its past investments have included mattel inc mat and the ingersoll newspaper chain
and while traditionally the japanese have not been big buyers of the shorter dated issues on offer at this weeks us auctions such reports undermine market confidence
shr 441 dlrs vs seven cts qtly div 10 cts vs 10 cts in prior qtr net 2955000 vs 75000 sales 727 mln vs 700 mln note net includes pre tax gain of 78130000 dlrs from termination of retirement plan for salaried employees and 875000 dlrs charge for reorganization costs dividend payable november 17 to holders of record november two
consumers power cms to redeem bonds
city resources also said previous dredging was only carried out to a depth of 36 metres and high grade gold values are reported to at least 60 metres in the central part of the bulolo valley and possibly as deep as 90 metres
the process of chinese accession will not be accomplished overnight the gatt rules were not designed for a large economy of the chinese type shultz said
net crude oil and condensate reserves were 752 mln bbls as of dec 31 1986 compared to 751 mln bbls at the end of 1985 unocal said
the company today reported a 1986 loss of 236469 dlrs after realized investment gains of 734609 dlrs compared with a 1985 loss of 2522293 dlrs after investment gains of 645438 dlrs
production in the manufactured goods industry has been falling since mid 1986 and will decline by between one and two pct this year after a 25 pct increase in 1986 the ifo economic institute said
australian wheat exports in 1986 87 are forecast at 1450 mln tonnes vs 1500 mln tonnes last month while exports in 1985 86 are estimated at 1596 mln tonnes vs 1596 mln last month
among finished goods gasoline rose 55 pct after a 157 pct january increase and fuel oil was up three pct in february after an 180 pct increase in january
ducommun inc dco quarterly dividend
the higher construction costs plus higher operating costs would increase the cost of power produced by mayo unit two with scrubbers by about 90 mln dlrs per year a company spokesman said the company has already spent about 23 mln dlrs on mayo two
a us navy battle group led by the aircraft carrier kitty hawk is currently in the northern arabian sea
officials in malaysia indonesia and thailand which produce the bulk of the worlds rubber said they expected the new pact to continue to stabilise prices and help their rubber industries remain viable in the long term
china buys us hard and soft wheat
in the european beet growing regions of the soviet union it was warm with showers over most areas and weather was generally good for the emergence and growth of beets
the new company will have 3000 employees and be headquartered in long beach calif the company said
the companys expect to file a plan by the end of may
citicorp said yesterday that its proposal would allow dixons to raise its tender price to 9325 dlrs per share
startel corp said it expects to report a first quartter loss on a 25 to 30 pct revenue fall from the year earlier 2524000 dlrs
this brings the total help so far today to 364 mln stg compared with its deficit estimate of 350 mln stg
the public prosecutors and police here arrested five former senior executives of a bankrupt gold deposit business group for defrauding about 450 clients of about 15 billion yen for gold bars which were never delivered police said
the seven year bond matures on september 30 1994 and the nine year bond on september 30 1996
apparently they canada have ignored the fact that canadian corn and other coarse grain production is rising faster than consumption lyng said
suburban bancorp woodstock bancorp to merge
i suspect there will be further moves he said
china moves to stabilise world tungsten prices
the january and february figures are subject to revision
london gold morning fix highest since october
prices are most likely to rise in the fourth quarter on european and us stockbuilding for winter they added
the campaign to persuade farmers to grow legal crops instead of coca would be financed instead using local currency nogales said
kurt viermetz worldwide treasurer of morgan guaranty trust co told arab currency traders meeting here that the steady depreciation of the dollar had not gone far enough to rein in us deficits on a lasting basis
it left its estimates of wheat and coarse grain stocks at end27of different marketing years unchanged at 178 and 210 mln tonnes respectively against 160 and 167 mln a year earlier
american barrick abx sells coal assets
nogales said he does not expect bolivias debt repurchase to become a model for other debtors in dire straits
passport travel inc pptio 2nd qtr may 31 net
merrill lynch and co inc is offering in the domestic debt market 75 mln dlrs of new zealand dollar denominated notes due 1988 said sole manager merrill lynch capital markets
french household consumption falls in february
last year a sumitomo life insurance co official was appointed to ef hutton group inc unit ef hutton and cos board and sumitomo bank ltd spent 500 mln dlrs to become a limited partner in goldman sachs and co
last october schlumberger announced the sale of the fairchild stake and said it would take a 200 mln dlrs charge in the fourth quarter from the sale
a foreign banker said high reserve requirements which now account for about 30 pct of deposits placed spanish banks at a disadvantage with european competitors
it said it expected lower first quarter 1987 earnings because the money market cost of funds had increased narrowing net interest spreads somewhat it said the earnings projection was based on preliminary 1987 data
the official said chung is expected to outline seouls efforts to increase imports of us goods and to stress the need for south korea to maintain a trade surplus in the next few years in order to cut foreign debts totalling some 445 billion dlrs
the commission was given new powers last year to control the release of intervention cereals onto the market the sources noted
final terms will be fixed on april 14 and the issue is guaranteed by daiwa bank ltd
national computer told june 22 it could make a bid for datacard
pakistans corporate law authority cla has begun an enquiry into imports of tea from kenya and the trade imbalance between the two countries cla chairman irtiza husain confirmed
dixons gets only 20 pct of cyclops cyl in bid
having the philadelphia exchange open during the asia pacific market day would open new hedging opportunities set a truer level for over the counter option trading increase arbitraging opportunities and give corporations and treasuries access to a currency option market of much greater depth and liquidity with the security of a clearing house he said
in the communique issued this morning the g 10 said prospects of member countries economies would be improved by stability in the exchange rates of their currencies the g 10 includes the group of seven the united states canada britain japan italy west germany and france plus belgium the netherlands sweden and also switzerland
m
shr 13 cts vs 40 cts net 2509000 vs 7582000 revs 1862 mln vs 1821 mln year shr 23 cts vs 95 cts net 4318000 vs 178 mln revs 5648 mln vs 5844 mln
the fed previously said industrial production rose 04 pct in january
minnesota house speaker designate said the legislators would probably look at language similar to that contained in indiana and new york law
some experts feel bonny light is still overvalued and say its price should be cut by between 50 cts to one dlr a barrel
japan plans more flexible corporate bond issues
in february texas air acquired the minority interest in continental that it did not already own for 1650 dlrs per share
the bank of england said it gave the market further assistance of two mln stg during the afternoon buying that amount of band two bank bills at 10 5 16 pct
the commission has sharply revised down expected german gross national product growth this year to two pct from 32 pct predicted last autumn and says bonn has the most room of any ec country to stimulate economic activity
if you have an agreement such as coffee with a system of quotas with a link between prices practised inside the pact and actual market prices it can work
these ministries are trying to determine which market rates should be considered when setting the bureaus deposit rate the ministry sources said
salant corp said it and its thomson co inc and obion co inc subsidiaries have filed a joint reorganization plan with the us bankruptcy court and expect to emerge from chapter 11 bankruptcy in the near future
as of today about 45690 shares were tendered an insufficient number of shares to satisfy the condition that 51 pct of the voting power be tendered
combustion engineering csp unit in buyout
nl industries inc nl sets qtrly payout
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
a repetition of what happened last year when opec boosted output and sent oil prices tumbling down below 10 dlrs is always there as a possibility he said
the kansai project is to cost about eight billion dls
they are to be imposed on goods which use semiconductors including television and audio equipment and computers
moodys investor service inc said it upgraded grolier incs nearly 116 mln dlrs of debt
but despite the impasse some latin american delegates including mexican finance minister gustavo petricioli said they were optimistic a compromise agreement could be reached next month
dutch sugar traders deny involvement in a plan to offer more than 850000 tonnes of sugar to intervention in protest at ec export policy and prices traders told 
tempo enterprises inc tpo year net
1987 3rd qtr and nine months includes tax loss carryforward gain of 695000 dlrs and 36 mln dlrs respectively
manufacturers hanover corp mhc 3rd qtr net
moore said one aim was to instil a sense of political urgency to avert potential economic tragedy another was to seek ways of popularising freer trade to people who felt the pain of readjustment but could not see the benefits as well as preventing bush fires of confrontation while we proceed with orderly negotiations the meeting is being attended by 25 overseas delegations including representatives of gatt and the economic community
north carolina federal ncfs raises prime rate
the offering is in addition to 50 mln dlrs of debt securities already registered with the sec but unsold
j and j snack foods corp said it filed with the securities and exchange commission a registration statement covering a 25 mln dlr issue of convertible debentures
the analysts estimated that the group would report a third quarter net in the region of 200 mln to 220 mln dlrs against 2386 mln a year earlier and 2203 mln in the second quarter
the figures showed its gold foreign currency and other external assets rose to 4151 billion francs from 413 billion mainly reflecting a rise to 1167 billion from 1147 billion in foreign exchange holdings
in the normal course of events the markets would have been extremely worried about that figure noted peter spencer uk economist with credit suisse first boston
although area to be harvesteed is about the same as last year cane production may be up in florida this year he said
during the annual wintering period from february to april rubber trees shed their leaves and latex output is very low
it said the previous high for a single quarter was 27179000 dlrs for the 1986 fourth quarter
guardian morton shulman agrees to takeover bid
atari corp said it filed with the securities and exchange commission a registration statement covering a 75 mln dlr issue of convertible subordinated debentures due 2012
proceeds will be used for general corporate purposes
he said tandems second quarter is traditionally slower than the first
sight deposits are an important measure of swiss money market liquidity
reed said under the circumstances the 100 dlr per share tender offer which expires april 15 is a fair offer
canadas 120 billion dlr bond offer was virtually sold out as bond prices closed weaker in moderate trading dealers said
nsa inc said in an attempt to go private and repurchase its shares it is offering to exchange a five year subordinated investment note for each share held by shareholders with more than 600 shares
discussed on and off for a long time the commodity concept is part of a growing search for a system that anchors monetary policy and widely fluxtuating currency prices to a more solid base
flushing hodeidah and mokha 16800 mt bagged sugar 750 750 9 15 4 genoc
combined refinery and lme stocks rose to a preliminary 470600 tons from 464400 tons revised higher january lme stocks were 193400 tons
data architects inc dai 2nd qtr may 31 net
warburg pincus starts symbion symb bid
unilever nv share 1069 guilders vs 1182 guilders making 3822 guilders vs 3679 guilders
tcw said it anticipates paying a regular quarterly dividend
the oecd said that apparent disagreements among major countries on implementation of the louvre accord had helped to undermine business confidence and called on more active fiscal policies from the us west germany and japan to slow demand in the us and raise it in the other two countries
jardine matheson decided to make a provision against its general trading business in the middle east in view of the continuing weakness of oil prices keswick said
our failure to maintain the momentum will be at great cost to us all moore said
aristech ars to increase production capacity
privately held joe franklin productions inc said it entered into a preliminary agreement to merge with assets development corp a public company
carney said there was a lot of political will among the ministers here to complete the uruguay round of gatt in under four years and that there is also a realisation that it has to be done in a balanced way
west german economics minister martin bangemann urged a halt to the talking down of the dollar by both official and private institutions in the us saying calm was needed on the foreign exchanges
1986 loss includes gain of 68 mln dlrs from discontinued operations
shr loss 36 cts vs loss 57 cts net loss 4589000 vs loss 7339000 revs 199 mln vs 196 mln avg shrs 147 mln vs 133 mln note company is a subsidiary of british land co plc
the buena vista light grade at 26 degrees api gravity was raised 135 dlrs a barrel to 1555 dlrs bbl while the huntington beach light grade at 16 degrees was raised about 175 dlrs bbl to 1410 dlrs bbl
shares of continental gummi werke ag congf opened eight marks stronger in an otherwise mixed frankfurt market and dealers attributed the trend to favourable press reports about a new tyre system the company is developing
if they do its not evident it looks like theres no cure but to let the free market take values to where they should be
french agricultural bank issues 300 mln franc bond
the series of strikes in the sector started on january 19 in protest at employers plans to make 800 redundancies from the 4000 strong workforce by 1990 starting with 350 this year
tmoc said it did not know elders resources response to the bid or that of its other major shareholder the australian gas light co the latter has a 105 pct stake in tmoc
gv medical inc gvmi 4th qtr loss
most operators overlooked intervention by the bank of japan to support the dollar against selling in favour of the yen by institutional investors and overseas operators dealers said
japanese officials and bundesbank president karl otto poehl did not appear to have left the building at the end of earlier group of five talks which broke up around 2 pm local time 1800 gmt there was no sign however of the italian delegation whose position was thrown into question this morning by the resignation of the christian democratic wing of italys socialist led government
under that agreement chemical fabrics would also have become distributor of dow cornings vestar silicone coated fiberglass architecural fabrics
standard and poors corp said that corporate credit quality stabilized in the first quarter of the year even though downgrades outpaced upgrades
the company said terms of the new preferred will permit it to redeem and retire the 1985 preferred shares at a discount from their current liquidation value of 50 mln dlrs or 100 dlrs a share
the money will be used to import manufacturing equipment including technology transfer for the production of truck radial tyres
a study commissioned by one of the main supporters of the secondary market idea the american council of life insurers concludes the farm credit systems market share in rural lending would fall if a secondary market were established
production at the mine has been suspended until investigations are complete
cytrx corp said its 60 pct owned cytrx biopool ltd subsidiary has acquired biopool ab of umea sweden for undisclosed terms
upcoming asset backed issues include 200 mln dlrs of notes backed by the car leases of volvo 1986 lease finance corp a unit of volvo finance north america inc via first boston and 450 mln dlrs of notes secured by sales contracts of mack trucks receivables corp a unit of mack trucks inc mack via shearson lehmand brothers inc
us grain carloadings fall in week
rent a center rent files debenture offering
diagnostic retrieval systems inc said it has made an offer to acquire through a wholly owned unit all outstanding shares of rospatch corps common stock for 22 dlrs a share cash or about 53 mln dlrs
ab volvo volvst said the weakening dollar caused the drop in its 1986 profits but company chief executive pehr gyllenhammar said 1986 was one of volvos best years ever
the split will be effective after completion of filing requirements it said
under the alternative offer the citicorp unit with cyacqs approval proposed to acquire the industrial group from dixons
a number of individual zinc producing companies have approached the european commission to sound out its reaction to a possible industry plan for a voluntary reduction of smelting capacity commission sources said
the parties agreed to continue economic cooperation under the louvre agreement and its flexible application including cooperation on exchange rate stability and monetary policies the treasury said
james crivits consul chairman said debt service on the outstanding debentures has cost the company 55 cts a share per quarter and cut deeply into the companys profitability
light louisiana sweet was also raised 50 cts to 1785 dlrs bbl
wheat deficiency payments for the 1986 crop now complete were made in a 50 50 cash certificate split and usda officials have indicated they want to do the same for feedgrains
and poehl noted that the dollar mark parity was unchanged since february 22 without the bundesbank having had to sell marks to support the dollar
walt disney co ltd is issuing a 60 mln australian dlr eurobond due may 7 1990 with a 14 1 2 pct coupon and priced at 101 3 8 pct warburg securities said as lead manager
csr officials have also said they had no intention of raising the companys bid for monier after etls intervention became public last week
he added the xj 6 had also to compete with us luxury car producers which would restrict the cars price
japanese officials say they are implementing the report as fast as they can said a european ambassador who has travelled the country asking about this issue
the difference in the price the state run sugar and alcohol institute iaa pays local industry and what it receives from foreign buyers costs the government some 350 mln dlrs a year
but the problem is imports are not expanding said one official
payment date is april 27
they will be offered at a base price of 72 lire down from 74 previously for an effective net annual yield on the first coupon of 1015 pct against 966 in march
its certainly not a disastrous crop at this stage but it might be in a month without some good falls he said
napa valley bancorp nvbc 1st qtr net
itel corp said it obtained commitments from a syndicate of banks for a six year secured loan of about 325 mln dlrs and had separately filed registration statements for two public offerings for a total of 150 mln dlrs to fund its december 1986 acquisition of anixter bros inc it said one of the offerings will be a new 75 mln dlrs issue of convertible exchangeable series c preferred and the other will be a 75 mln dlr issue of seven year senior subordinated notes
note companys full name is gebrueder sulzer ag sulzz
the company said any decline would be due to expenses related to the acquisitions in the middle of the current quarter of seven licensees of sealy inc as well as 82 pct of the outstanding capital stock of sealy
in january 1987 the government was more than two months in arrears in paying foreign currency to successful bidders and the auction was suspended and replaced with a fixed exchange rate of nine kwacha to the dollar
vernes said he was satisfied the european commission has started to move in the right direction but said his company had no plans to change its decision to put sugar into intervention
net service receipts declined to 55 billion dlrs in the final quarter from six billion dlrs in the third quarter
dayton hudson said in a letter to shareholders it told an aggressive buyer of its stock that it does not want to be acquired
showboat earned 1753000 dlrs in last years third quarter
the commerce department would like to have the law changed to permit it to report both sets of figures simultaneously
there has been speculation that chancellor helmut kohl would try to replace poehl with a man closer to his own christian democrats
cereals mcas are plus 24 points for west germany and the netherlands minus two points for denmark minus eight points for france minus nine for ireland minus 57 for italy minus 257 for britain minus 441 for greece and minus 105 for spain
studies concerning the possibility of widening the gaillard cut would not be affected by the landslide he said adding that he expected the canal board to determine whether and when the canal needed widening by january 1988 at the latest
oper shr 118 dlrs vs 58 cts oper net 2266000 vs 1037000 revs 458 mln vs 414 mln avg shrs 1924000 vs 1800000 note excludes gain of 73000 dlrs vs 290000 dlrs from benefit of tax loss carryforward
gdp grew by three pct last year
resource exploration inc said it has agreed to let langasco energy corp drill 50 oil and natural gas wells on its clinton sandstone formation within its tuscarawas and harrison county ohio area of operation
several firms have devised different structures for euro mtns and defend their structures adamantly
it said its stock will no longer trade on the amex
fed says it buys 550 mln dlrs of bills for customer may through sept 24 maturity
earlier the bank forecast the system would face a very large deficit today of around 175 billion stg
almost 60000 tonnes of cereals sugar beef butter and other food have been authorised for distribution under an operation sanctioned by ec farm ministers on january 20 in which charities act as executive commission agents
jim walter corp jwc sets payout
the banking center tbcxo 3rd qtr net
shr 12 cts vs eight cts net 485866 vs 316193 revs 1741508 vs 1440154 year shr 28 cts vs 20 cts net 1108314 vs 778197 revs 5073178 vs 3687160
energy secretary john herrington said in a statement that although we have made gains in energy security in the last six years this report shows that there is justification for national concern both over declining competitiveness of our domestic oil and gas industry and over rising oil imports the report said imports last year were 33 pct of us consumption and by the mid 1990s could rise to 50 pct
denmarks balance of payments on current account was provisionally put at zero in february against a 181 mln crown surplus in january and a 15 billion deficit in february 1986 the national statistics office said
a preliminary duty of 854 pct was set october 17 1986
once a firm has received permission to act as lead underwriter the exposure will be valued at one sixth of the face amount of the securities
in 1986 dow earned 741 mln dlrs an increase from 1985s 58 mln dlrs brought about by falling oil prices and resulting cheaper feedstock costs
texaco last changed its crude oil postings on september 15
fed sets two day system repurchases fed says
if venezuela and mexico have concluded their negotiations we want to end ours in a reasonable manner and as soon as possible he said
the key difference between the two approaches is that the us wants farm subsidies eliminated while the ec is pushing only for a reduction in farm suppports samuels said
heating oil stocks are also likely to build and runs to be steady to slightly higher which could add pressure on oil prices the analysts said
canada wheat board advises cut in grain prices
colombias coffee export registrations remain open and there are no plans to close them since a new marketing policy means an unlimited amount can be registered gilberto arango president of the private exporters association said
fourteen ships are stranded at the port
the zairean economy wont survive without massive imf assistance
venezuela will seek 24 billion dollars in export financing during 1987 double the amount it received last year public finance director jorge marcano said
standard and poors said it lowered its rating of southdown incs 50 mln dlrs of sinking fund debentures to bb plus from bbb and removed the issue from creditwatch
hata speaking at the first session of the two day meeting said agriculture is no exception to the goal of restructuring the economy but did not elaborate
the facility will be for seven years and will allow the borrower to issue multi currency advances and sterling acceptances through a tender panel
new shares from the stock split will be distributed may 11 it said
but banking sources said the new regime from april 1 will mean banks cannot afford not to hold treasury bills in case they need funds from the central bank
the financing is being arranged in the name of bp international and bp north america
money market dealers had earlier expressed mixed views on the possibility of quarter point cut
the daily did not detail 1986 output but said further production increases are anticipated in the years ahead as part of a policy of boosting domestic output to cut grain imports
venezuelas recent agreement with its creditor banks reprograms six billion dlrs of its 21 billion dlr public sector foreign debt rescheduling and reduces repayments due between 1987 and 1992 finance minister manuel azpurua said
klm last week denied a dutch press report saying it was discussing a takeover of air atlanta
the us agriculture department last december slashed its 12 month 1987 sugar import quota from the philippines to 143780 short tons from 231660 short tons in 1986
liquidity in the philippines rose in december while loan demand and short term lending rates fell the central bank said
1986 net includes charge of 865000 dlrs from repeal of investment tax credits company corrects 1985 year per share operating net in table which originally ran march 10
carson pirie scott and co crn sets dividend
apr jun shipments traded fob east coast at 123 stg per tonne
service control corp said it has started a tender offer for all shares of american service corp at 37 dlrs each
other itc creditors have brought direct actions against the councils member states and an application by the governments to strike out the first of these brought by jh rayner mincing lane ltd is to be heard on may 11
johnson and johnson said the us food and drug administration has notified the company its food additive petition for a high intensity sweetener has been formally accepted and now will be reviewed by the agency
the purchase which must be approved by the federal home loan bank and the california department of savings and loans would increase american savings deposits by about 40 mln dlrs
the central state owned bank of greece said a consortium of japanese banks will lend it 20 billion yen for use in the public sector
the company said the exchange offer is conditioned on tendering shareholders releasing certain rights to contingent payouts and profit share interests that were given in connection with its 1985 acquisition of consolidated capital equities corp and johnstown management co
pittston co said wtc international nv shareholders approved the acquisition of the company by pittston
the six month yield was set at seven pct
a statement said the agreement related to interest and principle and obligations from previous reschedulings due between july 1 1986 and november 13 1987 as well as arrears from the period up to june 30 1986
this takes the banks total help today to some 229 mln stg and compares with its forecast of a 300 mln stg shortage
at the retail level us striploin sells for 977 dlrs per pound while japanese beef sells for 2851 dlrs per lb
the 18 month oil financing facility which was signed last october 28 is one of the few purely voluntary credits for a latin american nation since the regions debt crisis erupted in august 1982
chemlawn said its board was determined that wastes offer was inadequate and not in the best interest of shareholders and could adversely affect the interests of its employees suppliers creditors and customers
autrex inc 1st qtr january 31 net
the dividend is payable april 15 to holders of record april 6
the indian state trading corporation purchased 46000 tonnes of vegetable oils at its import tender on friday market sources said
dividend on priority shares 51 francs vs 48 francs
ferruzzi announced last week it had agreed in principle to buy the cpc operation for 630 mln dlrs
metro mobile cts inc mmct first qtr loss
he said he would have been happy to have brought forward five billion marks of tax cuts now planned for january 1988 to the beginning of this year but he said the government faced political constraints getting such measures through the upper house of the west german parliament
the redemption date is may 5 1987 it said
asea capital corp bv is issuing a 10 billion yen bond due april 23 1992 carrying a coupon of 4 1 2 pct and priced at 102 3 8 mitsui finance international ltd said as lead manager
us bill auction rates average 572 580 pct
reflecting a longer term uncertainty some some trust banks and japanese insurers are keeping their short dollar positons hedged against exchange losses in their foreign portfolios while some others have started covering those short positions japanese bank dealers said
we have established rules which will permit us to withdraw immediately the surplus of cocoa on the world market bra kanon told reporters after the council adjourned
in addition to buying substantially of all coulsons assets tony lama said it would assume certain of the companys liabilities
cook united inc in talks to sell stake to private investors
the deadline for the start of the new pact is january 1989
escalante told a news conference here he carried the weight of the negotiations at the meeting by calling for larger export quotas for the smaller coffee growing nations
chase manhattan studying italian expansion
the management board of the bank would also propose two capital measures to shareholders in order to be able to react quickly to new challenges
redoglia and ritterbusch said april heating oil could continue to rally above 53 cts a gallon while crude futures could test 19 dlrs a barrel before profit taking stunts the move higher
we do have difficulty with repayment of loans on time dei anang said
sun city industries sni sees higher net
qtr ended dec 31 oper shr loss two cts vs loss 92 cts oper net loss 28045 vs loss 1040700 sales 4943584 vs 5613400 nine mths oper shr profit 11 cts vs loss 93 cts oper net profit 124434 vs loss 1054000 sales 226 mln vs 263 mln mouduline international inc note oper data does not include 1986 gains from tax benefit carryforwards of 30000 dlrs or three cts per shr in qtr and 110000 dlrs or ten cts per shr in nine mths
metro airlines inc said it has agreed in principle to acquire privately held chaparral airlines inc for 5700000 dlrs in cash
of the 50 or so houses who have up until now made a market in floaters dealers estimated that around a dozen did not quote frn prices today and they reported that one or two houses were not expected to resume trade in the securities at all
international trade and industry minister hajime tamura told a parliamentary session japans small and medium sized enterprises are seriously suffering from the yens rise and can only stand levels around 170 yen
commenting on current foreign exchange movements miyazawa said japan would watch developments for another couple of days
tan said a continuing drought affecting about 49150 hectares of corn has led to the loss of 43725 tonnes of corn worth 1749 mln pesos and contributed to the shortage
i had to spend 600 yen today to dry clean my suit coat he said
the 1986 annual report of zambias state run metal marketing corporation said 81 pct of the countrys metal exports were channelled through dar es salaam last year versus 79 pct in 1985
retail investors generally do not see new issue product said an officer on painewebbers corporate syndicate desk
the company said the grinding division had sales last year of about 18 mln dlrs
bangemann rejects call for early tax cuts
economic spotlight brazil debt deadlines loom
it said bank president barber conable at a meeting with sri lankas finance minister ronnie de mel in washington also emphasised the need for structural adjustment and reform to the economy battered by five years of separatist disturbances
moodys may downgrade duquesne light cos two billion dlrs of debt securities
the tender offer will be conditioned on a minimum of two thirds of the common stock being tendered and not withdrawn to the expiration of the offer as well as certain other conditions
but analyst peck said it will take a few weeks to see whether japan has genuinely cut production he said japanese manufactures were likely to view mitis request unfavorably because chip capacity was still high and production cut backs would lead to significant write offs in plant and equipment
but he stressed that colombia with stockpiles of 10 mln 60 kg bags had the capacity to export more and would use a recently introduced more flexible marketing policy to do so
ic industries icx unit to sell off more track
taft broadcasting tfb completes station sale
miller tabak hirsch and co said it has received an accepted 3424729 common shares of penn traffic co in response to its 3160 dlr per share tender offer that expired friday and together with the 380728 shares it already owned it now has about 918 pct of penn traffic
ftc urges veto of georgia gasoline station bill
us banking data released today are too distorted to draw sweeping conclusions about monetary policy but they do support the markets assumption that the federal reserve has started to tighten its grip on credit economists said
newport corp nesp 2nd qtr jan 31 net
lyphomed inc is raising 70 mln dlrs through an offering of convertible subordinatred debentures due 2012 with a 5 1 2 pct coupon and par pricing said lead manager alex brown and sons inc
brazilian sugar industry sources said new sugar export sales were expected to be extremely low for the next year with the institute wary of exposing itself to domestic shortages of either alcohol or sugar and because of the need to rebuild depleted reserve stockpiles
the wheat consisting of 60000 tonnes of hard red winter and 60000 tones of soft red winter is for delivery during the 1987 88 season which begins june 1
philippine planning chief urges peso devaluation
telecom said it estimates this to ba about 15 mln dlrs
the three pct figure could translate into a relatively high figure if european methods were used one economist said
however wendys remained up 5 8 at 12 3 8 on volume of more than three mln shares
it the bottom is in the offing he said
shr 290 dlrs vs 144 dlrs net 8862000 vs 4391000 revs 2216 mln vs 2653 mln note translated from italian lire in us dollar equivalents at the exchange rate prevailing at dec 31 1986
denman said while the ec is willing to negotiate about agriculture in a new round of trade talks it is unwilling to single out export subsidies on a negotiating agenda or put agricultural policy on a special fast track
diamond shamrock dia cuts crude prices
accepting share and note holders will participate in agls planned one for one bonus issue
brazil first requested the 300 mln dlr credit last november to help it develop the sale and generation of electric power
the survivors decided to offer mortgages whose rates would move in line with the cost of funds
a drawdown of corn supplies in china and argentina concern over soviet winter crops and increasing competition for us corn were all cited as possible factors in creating moscows recent interest
us exporters report 455000 tonnes of wheat sold to china for 1986 87 and 1987 88
a senior kuwait petroleum corporation official had earlier told he was unaware of any attack against kuwaiti oil installations
baldrige said the reagan administration hoped the strong us action against japan would convince congress to tone down protectionist trade legislation now being drafted
they are two excellent partners who have stated time and time again their support of us sprint he said adding that he was amazed at industry talk that the two companies might be arguing
japanese crushers continue to concentrate on rapeseed purchases since it converts to a higher percentage of oil than other oilseeds they said
brokers choice to buy rubbertech
meanwhile idd information services said the 30 day corporate visible supply fell to 329 billion dlrs last week from 398 billion dlrs in the previous week
fed sets 25 billion dlr customer repurchase fed says
canada 91 day t bills average 703 pct making bank rate 728 pct
the government forecasts annual average inflation of about eight pct this year
egypt has been authorized to purchase about 200000 tonnes of us wheat under an existing pl 480 agreement the us agriculture department said
icn pharmaceuticals inc said it purchased the remaining 225000 shares of viratek inc virao owned by eastman kodak co owned as part of a previously announced program
brunswick corp bc sells notes at 8199 pct
he said they had decided in a meeting that if the marines take over the ships the seamen would abandon the vessels and let the marines handle the situation by themselves
the rebate at last weeks tender was 13 ecus short of the level producers thought necessary and that of the previous week was 25 ecus below this level
shr 42 cts vs 76 cts net 23 mln vs 33 mln revs 723 mln vs 598 mln year shr 148 dlrs vs 259 dlrs net 76 mln vs 111 mln revs 2617 mln vs 2247 mln note 1985 net includes extraordinary gain of 15 mln dlrs or 35 cts per share in 4th qtr and 51 mln or 119 dlrs for the year
however the company said it has not closed its books for the quarter and release earnings april 20
if hasty action is taken in the united states it will create very serious problems the reagan administrations economic policy is expected to meet thursday to review japanese compliance with the bilateral agreement hammered out last year
soybean oil constitutes almost 30 pct of vegetable oil consumption while palm oil is the most traded the department said
between april 13 and june 26 the entire group led by gabelli group inc made net purchases of 403600 digiorgio common shares at 2220 dlrs to 2679 dlrs a share
standard was a high cost oil producer the analysts noted
amour inc to make acquisition
these firms are likely to join the syndicate which will increase the number of participants in the 10 year government bond primary market securities managers said
now there will certainly be no solutions without the imf he said
the 1992 deadline for abolishing economic barriers within the european community should help french economic growth and create jobs president of the french employers federation cnpf francois perigot said
there were no bids or offers for milo
the exception he said would be texas where he said most of the banks are already well managed but might be purchased at a discount because of the depressed regional economy
but these short term difficulties should not be allowed to deflect japan from the fundamental reforms necessary he said
the surplus widened in the first two months of the year to 235 billion dlrs from 187 billion in the same period last year
the 0 92 plan is scheduled to be discussed at 1530 est
farmers can forfeit their beans to the government rather than repay the loan
unisys corp uis 3rd qtr net
enterra corp en 4th qtr loss
the write downs reduced income by 746 dlrs per limited partnership unit
precambrian shield takes 51 mln dlr writedown
ah robins qrah to consider rorer offer
paranagua one two ports spanish med 35000 mt hss 1150 dlrs basis one to one 10 days all purposes 20 30 4
although about two thirds of britains trade is conducted with european countries sterling has traditionally shadowed the dollar rather than the mark analysts noted
clausen also said it will continue to phase out its overseas retail banking and concentrate on wholesale banking with emphasis on a premium list of multinational corporations
the court was told that since 1976 the company had made an annual provision of around 750000 stg for the eventual cost of abandoning a rig
howard harlow analyst at whale securities corp said anacomps earnings for fiscal 1987 ending september 31 could be doubled to 80 cts a share from the 40 cts a share he had forecast before anacomp agreed to buy datagraphix a micrographics firm from general dynamics corp gd the company can earn 80 cts a share in fiscal 1987 maybe as much as a dlr a share because of datagraphix harlow said
two mln tonnes of paddy would produce some 13 mln tonnes of milled rice above the 125 mln tonnes kampuchea says is the minimum its 75 mln people need
french sugar producer beghin say is not currently planning to withdraw the sugar it has placed into intervention despite the exceptionally high rebate awarded at this weeks european community ec sugar tender beghin say president jean marc vernes told 
and conn
the us was the largest supplier in january with 38760 tonnes down from 46899 in december and 63111 in january 1986
thyssen ag thyhf said it expects to post a good profit in 1987 despite anticipated losses in its mass steel making operations this year
for the full year oshmans net earnings fell to 2664000 dlrs or 45 cts a share from 8536000 dlrs or 140 dlrs a share
eastman kodak ek to sell holdings
shr 5305p vs 4579p adjusted div 87p making 14p vs 12p adjusted pretax profit 7884 mln stg vs 6031 mln net after tax 5071 mln vs 4054 mln extraordinary credit after tax 4319 mln vs nil note the extraordinary credit represents substantitally the after tax profit on sale of companys interest in m and g group plc
canadian and egyptian wheat negotiators failed to conclude an agreement on canadian wheat exports to egypt during talks last week but the canadian team will return to cairo for further negotiations canadian embassy officials said
the selling concession is 3 4 pct while management and underwriting combined pays 3 8 pct
binks mfg co bin regular dividend set
german call money was slightly softer today at around 370 pct after 380 yesterday
financial security savings and loan association said it has agreed to sell its sunrise fla branch to fortune financial group inc forf of clearwater fla for a substantial profit subject to regulatory approval
tanzania wants to export 200000 tonnes of maize
in a filing with the securities and exchange commission the group led by mutual shares corp said it sold 60000 cyclops common shares since february 26
m 3 which is non personal fixed term deposits and foreign currency deposits of residents booked at chartered banks in canada fell 549 mln dlrs to 22530 billion dlrs
nakasone sumita agree rate cut not appropriate
nederlandse gasunie issues 100 mln dlr eurobond
there will be co leads
last year the report noted the cash flow from operations dropped to 18 billion dlrs from 35 billion dlrs in 1985 and 32 billion dlrs in 1984 due principally to lower oil prices
healthmate reported a loss for the year of 1512534 dlrs or 17 cts a share on revenues of 14 mln dlrs
even for zero coupon bonds and floating rate notes a secondary market had not developed hennicke said
uganda mozambique win debt rescheduling accord
inflation has been running at 10 pct a year for the past six months according to the central bank and the government expects the economy to grow three pct this year after a 14 pct contraction over the last six years
richmond hill rich riverhead end merger talks
one 13 billion franc tranche of 5000 franc bonds will have a fixed rate of 870 pct and issue price of 9630 pct
the trust said existing debt secured by the property of about 6700000 dlrs in due on completion of the transaction which is expected in early april
the non member cocoa issue has been among the most contentious in the rules negotiations
shr 151 dlr vs 108 dlr net 231 mln vs 182 mln oper revs 811 mln vs 865 mln 12 mths shr 641 dlrs vs 577 dlrs net 1065 mln vs 992 mln oper revs 4658 mln vs 5098 mln note 1987 periods do not reflect the terms of earnings stipulation agreement among the company and various departments submitted for approval on march 18
us officials have said they did not think japan would retaliate because it had too much to lose in any trade war with the united states
us trade representative clayton yeutter said the stock market overreacted to a us decision last week to proceed with tariffs on some japanese computer products
rohr rhr sells debentures at 9 1 4 pct
this year and to a lesser degree in 1988 domestic demand should be stimulated by buoyant growth in household consumption made possible by wage increases following pay negotiations
this is about where the rate has been since early november
echo bay mines ltd said it discovered a gold deposit in the cove area near its mccoy gold mine in nevada
out of the total 1104 billion dlrs correspnds to the medium and long term debt owed by the public sector to foreign creditors
us meat group to file trade complaints
west germanys current account surplus widened to a provisional 66 billion marks in february from a slightly downwards revised 48 billion in january a spokeswoman for the federal statistics office said
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
one purpose of the meeting is to consider the transaction the company explained
michel lefebvre vice president of operations said noranda will operate the mine at about one third of its normal 72000 short ton annual finished capacity using above ground reserves until it decides whether to keep the mine open
csr officials have made it clear that they see redland taking the second option resulting in the two companies running monier as a joint venture
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
under questioning by rep
the sources said the cmbs price structure had been overtaken by ugandas high inflation rate unofficially estimated at about 200 pct and that this was a further disincentive to producers already owed large arrears
ottawa also is seeking to change some of washingtons rules on government procurement that penalize canadian businesses he said
continental did not give further details
the pound closed at 11825 11875 against the dollar compared to yesterdays close of 11560 11580
shr loss two cts vs profit 10 cts net loss 79000 vs profit 507000 revs 106 mln vs 2238000 12 mths shr profit two cts vs profit 23 cts net 89000 vs 1130000 revs 214 mln vs 7766000
credit agricoles stake in the consortium will be 35 pct
dixons also said it is currently discussing the matter with the sec
mobil mob to upgrade refinery unit
drawings on the revolving credit will be at a margin of 10 basis points over the london interbank offered rate libor banks are being invited to join at 75 mln dlrs for 10 basis points and at five mln dlrs for eight basis points
the vat compulsory registration period was being extended to 30 days he added and vat registration thresholds are to be raised to 21300 stg
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
in a march 20 letter to champion chairman john tanis claremont and walsh representatives stephen walsh and john cirigliano said they were pleased with the companys performance but wanted to take an active management role
the oils are soybean cottonseed sunflowerseed coconut rapeseed palmkernel and palm
sama reduced the offer price on the 500 mln riyal issue to 9678906 from 9682031 last week
the protracted negotiations have damaged the confidence of investors in argentina forcing up interest rates and spurring capital flight he said
jp morgan and co inc jpm 1st qtr net
reynolds metals co said it plans to restart the last idle potuction line at its troutdale ore primary aluminum plant
ronson corp ronc 4th qtr dec 31
the said it ministry expects at least 65000 tonnes in exports next week
baring unit sets up fund for management buy outs
qtly div 11 cts vs 11 cts prior qtr pay 30 april record 15 april
no date has been set for the issue announced in january
brown took that opinion a step further
aancor unit files amended registration statement
efforts to break an impasse between coffee exporting and importing countries over regulating the world coffee market in the face of falling prices appear to have failed senior delegates said after a contact group meeting
ambassador financial group inc said its ambassador real estate equities corp agreed to buy heritage quality construction co inc
duff phelps lowers beneficial corp bnl debt
in west germany 79250 tonnes have been tendered for intervention but czarnikow says the motive here is to ensure that the 1986 87 price is paid for sugar that was produced in 1986
president reagan opposes protectionist legislation but agreed to support a trade bill when it became apparent that opposition democrats would pass such legislation
to get to the pik level of 60 mln acres we would have to provide more incentives an analyst said
continental bank of canada a subsidiary of lloyds bank plc lloyl said it intends to redeem all existing preferred shares and distribute a stock dividend to common shareholders
some varieties of winter wheat sown in poland can survive ground temperatures as low as minus 20 degrees c spokesman teresa tomaszewska told 
us economic data due out next week is unlikely to hold any surprises that will shake us interest rate futures out of their relatively narrow trading range of the last 3 1 2 months financial analysts said
columbia gas transmission corp said it made an abbreviated streamlined filing with the federal energy regulatory commission to recover a portion if its costs of renegotiating high cost gas purchase contracts
mine safety appliances co said it agreed to sell its filter products division to donaldson co inc dci for undisclosed terms
deniz gokce associate professor of economics at the bosphorus university told that banks were forced to pay depositors real interest rates for the first time and profits started to fall
washington wants the iadb to impose greater conditions on lending and has threatened to block increased appropriations for the bank if it does not get its way
japans customs cleared trade surplus in the first 20 days of february jumped to 358 billion dlrs from 194 billion a year earlier the finance ministry said
over 550 tonnes were offered at this tuesdays auction with the supply position showing improvements
bolivia once latin americas most delinquent debtor is preparing for a second international monetary fund agreement after an economic stabilisation program has effectively slowed inflation and reduced public spending
the plant was upgraded to a capacity of 530000 bpd during the year enabling it to supply 50 pct of local demand for oil products the report said
deputy trade representative michael smith met agriculture minister ernesto figuerras and economy minister juan sourroille on september 29 and the argentine officials said they could not narrow the differential further for 1987 88
earlier this month lawyers for the shareholders asked the court to expand the charges to include an allegation that in the buyout allegheny had attempted to illegally freeze out its public shareholders at an unfair price
tony lama tlam to buy coulson of texas inc 
it was 433 billion in the first quarter of this year
the spokesman said he believed baker had already left west germany for sweden on monday
dainippon ink to invest in quixote quix 
ec external trade commissioner willy de clercq said after the talks there was a growing impatience with japan in the ec
browning ferris industries inc bfi in payout
usda estimated the overall cost of the bill to be 111 mln dlrs
the harris trust and savings bank said it has increased its prime rate to 7 3 4 from 7 1 2 effective immediately
it will consider raising additional capital most probably through a placement of convertible preference shares in the euromarket it added
capital expenditures rose to 524 mln dlrs in 1986 from 501 mln dlrs
shr 63 cts vs 47 cts net 168 mln vs 124 mln sales 2486 mln vs 2333 mln
us consumer prices as measured by the consumer price index for all urban consumers cpi u rose a seasonally adjusted 04 pct in february after a 07 pct january gain the labor department said
it earned 3848000 dlrs in last years first quarter
mco said one maxxam shareholder has filed an objection to the proposed settlement of shareholder actions related to the merger in the delaware court of chancery
in a filing with the securities and exchange commission metropolitan said it bought the metex stock as an investment
the company said the contract work will be performed at its facilities in grand prairie texas and is expected to be completed by september
the us trade representative said the federal reserve under chairman paul volcker has done its part to improve the trade situation by getting interest rates down
yeutter says dlr level based on economic policy
at the same time a number of company executives testified that the nations domestic exploration and production segment was still hurting and in need of government help
federal funds which averaged 602 pct on friday opened at 6 1 8 pct and traded between there and 6 1 16 pct
the centraal planbureau publishing its 1987 economic outlook said dutch net national income nni was expected to grow by one pct this year down from two pct growth recorded in 1986 and 25 pct in 1985 and 1984
the partnership said gencorp failed to say how it would provide a superior value yet they continue their attempt to prevent a satisfactory offer by failing to redeem their poison pill poison pills are shareholder rights plans that make takeovers more expensive
the measures are also aimed at cooling an overheated economy and could help dampen hungarians appetite for imported western goods which consume increasingly expensive hard currency the diplomats said
brown forman said nine month profits declined a bit to 660 mln dlrs or 307 dlrs a share from 662 mln dlrs or 308 dlrs a share a year earlier due to a second quarter charge of 37 cts a share for restructuring its beverage operations
also they said a flurry of arbitrage related sell programs that pounded the general market today accelerated the selloff of american express a component of the dow industrial average
dealers will be chase investment bank ltd citicorp investment bank ltd salomon brothers international ltd swiss bank corp international ltd and first chicago
south korea to maintain trade surplus 3 5 years
bra kanon called for bilateral consultations among producers and consumers thursday morning to resolve outstanding differences on how much non member cocoa the buffer stock can purchase and differentials to be fixed for different origin cocoa consumer delegates told reporters
yulo told the sra would also protest a usda move to award taiwans shortfall to the dominican republic
few banks have so far reduced lending rates to private customers though lending rates for corporate customers are beginning to decline
i wish to pay tribute to the private sector for its contribution to the economy in 1986 and challenge it to maintain the same spirit this year the manufacturing sector grew by an estimated 58 pct in 1986 in line with the same period the previous year he said
lowering the producing industrys tax burden would probably be a slower stimulant to output than a price increase but would not raise energy costs lichtblau said
western financial auto loans 2 a unit of westcorps western financial savings bank subsidiary is offering 125 mln dlrs of bonds that are collateralized by car loan receivables said sole underwriter drexel burnham
liu said the share in the joint venture of the foreign partner hong kong listed panin holdings ltd had been cut last year to 49 pct from 60 pct
the bank forecast the shortage in the system today at around 115 billion stg
payment date has been brought forward to march 27 from march 30 and the bonds will mature on march 27 2002
trinity industries inc trn 2nd qtr sept 30
disney would pay 217 mln dlrs to gencorp and 103 mln dlrs to a group that challenged the stations license
pegasus gold inc said milling operations have started at its montana tunnels open pit gold silver zinc and lead mine near helena
it will take many years to reduce the debt to an acceptable level he said
i think the sales price was higher than most people expected said john henry of ef hutton group
grumman aerostructures of bethpage ny will design develop and build the rudders elevators and other parts for the transports
gtx located in phoenix makes computerized systems that read drawings and transfer them into data bases
garcin said the new acquisition would substantially increase thomsons turnover in the sector
for technical reasons securitisation is simpler and more efficient with fixed rate rather than with floating rate mortgages
citibank and other banks could then decide to stop financing the countrys export credits the funds countries use to support their daily activities leading to an economic breakdown
uab called for a rights issue last november to raise 15249 mln ringgit to rectify its capital deficiency following an accumulated loss of 10761 mln ringgit at end 1985 the central bank bank negara said in a statement
31000 tonnes barley rouen completing le havre to jeddah 1535 dlrs 5000 load 3000 discharge chinese charterers took patricia vi 25000 tonnes river plate completing buenos aires or bahia blanca to china april dates 2900 dlrs buenos aires or bahia blanca only 2800 dlrs 2500 load 3000 discharge comanav took sea song 30000 tonnes us gulf to morocco april may dates 1350 dlrs one to one option 1450 dlrs one to two 5000 load 5000 discharge
bolivia intends to pay for the repurchase with aid that foreign governments especially the united states and west germany are providing to help finance the eradication of coca crops
canada outlines gatt agricultural reform plan
we would welcome if they pardoned half our debt gros said
the finance ministers statements came as the government is under sharp criticism for failing to obtain new credits despite its insistence on repaying the foreign debt according to the terms of a rescheduling accord reached last february
according to latest onic statistics the main buyers were italy with 189 mln against 163 mln in the same 1985 86 period west germany 480450 tonnes against 717689 the netherlands 462048 532299 and belgium 417887 tonnes 919337 british and greek imports of french soft wheat during this period were below year ago levels
trade sees steady corn wheat export inspections
according to the plan japan will also strive to solve specific trade problems with other nations and will encourage flows of funds to developing countries the officials said
vornado inc vno 4th qtr jan 31 net
finance ministers and central bankers of britain france canada and west germany were seen by correspondents returning to a treasury building
two people were killed in a previous explosion and fire at the plant on march 13
the bank may want to see another few points on the trade weighted index before the budget argued lewis
stephens replaces jack gill who is retiring early aged 57
the bank board said the average effective commitment rate for fixed mortgages with a maturity of at least 15 years for new home purchases dropped to 954 pct in early february a 30 basis point decline from early january
the exercise price of the subscription warrants will be 99 pct
morgan grenfell 1986 pretax profit 8219 mln stg vs 6882 mln
oper shr nil vs profit one ct oper net profit 14000 vs profit 51000 revs 5547000 vs 6021000 six mths oper shr loss nine cts vs profit seven cts oper net loss 383000 vs profit 314000 dlrs revs 931000 dlrs vs 125 mln note 1986 qtr and six mths excludes loss 171000 dlrs and 358000 dlrs respectively for loss from discontinued operations
time tl sinking fund debentures yield 884 pct
while the weakening of the dollar vis a vis european currencies is a bottleneck to increasing exports to the us yaacobi said he expects israel to extend its recent trend toward higher us exports
in unadjusted terms unemployment fell by around 30000 last month to 270 mln
3 hold caught fire on october 15
one money market dealer said comments by bundesbank president karl otto poehl at a private seminar in duesseldorf two weeks ago hinting at another interest rate cut only indicated the bundesbank might act if conditions changed
details of the exit bonds are still being finalized gonzalez added
the central banks widest measure of liquidity l rose 15 pct in january after one pct fall in december
the dollars recent slight appreciation against the mark even meant that foreign investors have sold mark bonds recently some dealers said
fujitsus acquisition of fairchild would have given the japanese computer maker control of a comprehensive north american sales and distribution system and access to microprocessor technology an area where fujitsu is weak analysts said
borg warner corp in a statement said it has received gaf corps 46 dlrs a share acquisition proposal and will have no comment until its board of directors has had a chance to examine it thoroughly
the bank of englands action also was thought to be completed on behalf of the japanese central bank reinforcing the markets view that japan is the most resolute of the six nations in its support of the currency pact
first financial which provides data processing services to community banks and other financial institutions said the acquisition will expand its customer base
birdsboro corp 4th qtr loss
total loans and advances rose 33 pct to 51719 billion dlrs from december when they rose 12 pct
but providing the budget small print was convincing and i suspect it will be it is entirely possible that we see one point off base rates by the end of this week kern said
the government reduced fixed asset investment requirements to 11 pct from 23 pct to help offset the negative impact of interest rate deregulation
illinois co op futures dissolution vote set
the three day meeting was dominated by the dispute and by the failure of brazil and its creditor banks to make any breakthrough on debt talks after brasilia suspended interest payments last month
uk chancellor of the exchequer nigel lawson said he expected british interest rates to fall soon in response to his fiscal 1987 88 budget but he did not say by how much
telcom is an international film and television distributor
gokce said the only solution would be for compulsory auditing by international accounting companies
the baker plan unveiled in october 1985 calls on commercial and multilateral banks to increase lending by about 29 billion dlrs in the three subsequent years to the 15 major debtors engaging in fundamental economic reform
i just dont think theres anything going on
pensions costs were reduced by 349 mln dlrs due to an accounting change
but clark maintained the potash dispute was another example of why canada needs to find a new way to settle bilateral irritants in the free trade negotiations under way with the us what we are seeking to do is put in place a better system clark said
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
recent official arrivals figures have been swollen by the inclusion of beans which had been delivered previously to port warehouses but not declared
it was one of the many options we offered the banks in order to win an attractive pricing he said
it also said sk and fs us sales force will be 20 pct larger in 1987 with more than 1000 sales personnel
earlier today general partners controlled by wagner and brown and afg industries inc said it started a tender offer for all of gencorps shares and stock purchase rights for 100 dlrs a share
hyponex corp hypx year net
spains tourism earnings continued to grow and totalled 655 mln dlrs in february compared with 103 mln dlrs in january and 502 mln dlrs in february last year
thermwood corp thm 2nd qtr jan 31 net
nissan motor manufacturing uk ltd has reached agreement with lombard north central plc of the uk to build plants and boost the local content in nissans uk produced cars to 60 pct in 1988 from 40 to 50 pct the nissan motor co ltd nsant said
britain and australia have offered a total of 129250 tonnes of wheat to bangladesh as grants to contain rising cereal prices and help support rural employment projects officials said
my advisers felt that had i given you advance notice you would have used the time to throw up obstacles to my offer rather than giving it serious consideration he said
analysts see no other bidder for purolator pcc 
the mexican package is now due to be signed on march 20 but bankers said the us clearly feels the need to breathe new life into the financing process especially with crucial negotiations with brazil about to start
in 1986 river thames reported net premiums written of 36 mln dlrs
we are not only holding our gains on unemployment we are bringing unemployment down he said adding that the government had help the country avoid recession
senate backs us retaliation in gulf
i strongly doubt that there is going to be any hostile takeover drexel burnham lambert incs houston based analyst john olson said putting little credence in the rumors
a profit looks quite favorable graff said
the nine banks are oversea chinese banking corp ltd united overseas bank ltd uobmsi banque paribas bangkok bank ltd citibank na standard chartered bank ltd algemene bank nederland nv abnnas banque nationale de paris bnpppa and chase manhattan bank na
separately deluxe said its data card investment no longer fits its business strategy
uk money market offered early assistance
over the next five years we expect to launch one major new product each year henderson said
genovese drug stores inc gdxao 1st qtr may 22
march eight shr loss 31 cts vs loss 47 cts net loss 256 mln vs loss 394 mln sales 3981 mln vs 3223 mln avg shrs 916 mln vs 900 mln nine mths shr loss 44 cts vs loss one dlr net loss 327 mln vs loss 844 mln sales 136 billion vs 108 billion avg shrs 912 mln vs 896 mln note twelve and 40 week periods
viacom via natl amusements seek fast merger
there will be a greater demand for funds in this statement period because it includes the close of the quarter
natural float ranged from a low of near zero on thursday for which the fed spokesman could give no particular reason to a high of nearly 750 mln dlrs on tuesday
the dollar fell below 143 yen in hectic early tokyo trading despite aggressive bank of japan intervention dealers said
however the bankers said that because of all the publicity which surrounds south african debt negotiations the meetings were kept secret
the pipeline said southwestern producers account for 46 pct of its total available gas supply this year
it also followed celebrations yesterday of what baghdad hailed as irans failure to achieve victory during the iranian year which ended on saturday
southwest realty swl year loss
it said its three largest shareholders robert f
it said it received a similar qualified opinion in 1985
semi div 7 1 2 cts vs 7 1 2 cts prior pay april 30 record march 31
investor group puts pressure on gencorp gy 
temco service industries inc 1st qtr dec 31
gold is expected to continue its rise this year due to renewed inflationary pressures especially in the us hamburg based vereins und westbank ag said
we think japanese consumers should have the same freedom of choice as our consumers
indonesia says it will extend oil contracts
subject to the scheme would be loans extended to debt ridden countries such as mexico and argentina they said
great western gwf sells insurance unit
this weeks bank of england resistance to strong market pressure for lower interest rates succeeded in holding bank base rates at 11 pct
hemodynamics inc hmdy year loss
us defence secretary caspar weinberger said monday that us warships destroyed the oil platform in the southern gulf in response to a missile strike on the american registered kuwaiti tanker sea isle city in kuwaiti waters on friday
qtly div 45 cts vs 44 cts prior pay may one record april 10
with a 542 per cent voting bloc latin american nations have had relatively easy access to 35 billion dlrs in project loans since the banks founding in 1959
the prospect of rising dependence on oil imports from the gulf and the recent revelations of the tower commission report mandate more than ever before the need for a fundamental reassessment of us interests in the middle east ebinger said
this included eight to nine mln dlrs in immediate costs with the rest being spent on earth moving operations to prevent any further landslides
pacific gas two diablo canyon units generate about 22 mln kilowatts of electricity in full operation
london traders said the ec commission will probably endeavour to release a large tonnage and as much as 100000 tonnes may be authorised for export under licences up to end september
st
computer research inc core 2nd qtr feb 28 net
the amsterdam unit of french bank societe generale said it is launching a 50 mln guilder five month certificate of deposit programme starting march 6 and ending september 7
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
australia said its quota of 7000 tonnes was roughly equal to its expected output this year
the company also said sales on the west coast were hurt by late snows and poor skiing conditions
the banks are not competition for individual stockbroking firms because of the increased business they generate he added
csbc has orders to build 10 ships totalling 460000 dead weight tons dwt this financial year compared with 11 ships of 462000 dwt in 1985 86 he said
the canal is scheduled to open tomorrow
fields lacking adequate moisture last fall showed weak and uneven stands
national entertainment corp said shareholdersapproved a one for 25 reverse stock split and a name change to major video corp both effective march 16
shr 26 cts vs 24 cts net 1144000 vs 1063000 sales 232 mln vs 248 mln year shr 93 cts vs 140 dlrs net 4046000 vs 6111000 sales 978 mln vs 1040 mln note prior year net includes gain 286000 dlrs from discontinued operations in year and loss 375000 in quarter and gain 260000 dlrs in year from disposal of discontinued
asked by reporters following testimony before the senate banking committee whether the fed had anything to do with the rise to 7 3 4 pct in the prime he replied not that i was able to detect
it is not connected with holdings plc
the british firm failed to win a four billion dlr deal to supply an advanced communications system to the us army in november 1985 despite personal lobbying by prime minister margaret thatcher
investors may pay for b participation certificates by redeeming the bond issued today
sigmaform corp sgma 3rd qtr jan 31 net
pakistans exports under the agreement will include raw cotton cotton products cotton textiles steel products molasses naphtha and fresh and dried fruits
there now looks to be no danger that the chancellor of the exchequer nigel lawsons forecast of a 1987 current account deficit of 25 billion stg will be exceeded said wroblewski
cargo handling companies said they were hiring twice the usual number of dockers to offset an intermittent strike in spanish ports
it said it would continue with plans for all its activities to be internationally competitive and profitable
westpac said in a statement various other lending rates are also being revised downwards
eib loans to italy for industry and transport
the united states asked for consultations with tokyo on the issue
qtly div 15 cts vs 15 cts prior pay april 30 recrod april nine
fed says it sets 15 billion dlrs of customer repurchase agreements
japan does not intend to ease credit officials
total corn sales by argentina to the soviet union are only 15 to 18 mln tonnes with delivery spread out from march to june the us agriculture departments counselor in buenos aires said in a field report
the italian treasury said it would offer 24500 billion lire of short term treasury bills bots at net rates lower than on the preceding issue
chinas foreign exchange reserves totalled 10514 billion dlrs at end 1986 up from 1037 billion at end september but down from 119 billion at end 1985 according to central bank figures published by the new china news agency
this kind of commodity chemical business will never be a glamorous high margin business cain said adding that demand is expected to grow by about three pct annually
it said the certificates will be classified as zero coupon bonds or promissory notes with no interest but priced at a considerable discount from their redemption price
cipec studying copper market backwardation
the loan is for 15 years including three years of grace at the standard variable interest rate currently 792 pct the bank said
other analysts including clarence morrison of dean witter reynolds inc and merrills roling also recommend phelps
the taxes would help cut the budget deficit which in turn would lower the value of the nz dollar he said in a speech
in the 1986 report rothmans international said rht which is controlled by rupert foundation sa owned 1825 mln ordinary and 6437 mln b ordinary shares or 999 pct and 261 pct respectively
bear automotive service bear 4th qtr oper net
the ico executive board reconvened at 1650 hours local time to hear a report from consultants on ico operations
czarnikows projections in mlns tonnes white value and three differing yields include 87 88 max aver min 1986 87 france 357 342 328 344 w germany 308 288 264 319 ec 1382 1301 1213 1376 w europe 1771 1645 1498 1671 poland 202 180 113 174 ussr 865 760 571 805 e europe 1387 1214 908 1244 all europe 3158 2858 2406 2915
the decision to make the payments in a 50 50 cash certs ratio was made monday but payments to producers will be delayed until mid month due to a problem with usdas computer program von garlem said
it also said it will begin an immediate cost reduction program to cust annual operating expenses by 50 mln dlrs
the package obtained by also includes a provision outlined in advance by usda officials that would increase the annual permissible cut in the basic price support levels for all major crops to 10 pct from five pct
but the target can be achieved only with good weather the report said
soviet union to import more grain in 86 87 usda
money market sources said the market had begun to doubt that a widely expected drop in bank base lending rates to 95 pct from the present 100 pct was really on the cards
there is still a very large gap between the employers and the fnv and i cant say that we expect to reach any agreement
farm bureau specialists went to ottawa and testified previous us farm programs have actually benefited all foreign producers by reducing the amount of corn grown in the us and losing market share while exerting an upward influence on the price of corn worldwide he said
the cotton program stipulates a mandatory set aside of 25 pct of a farmers base acreage noted judy weissman of shearson lehman brothers
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
vse corp vsec 4th qtr net
the 10 year loan has a 4 1 2 year grace period
its like tax avoidance schemes said steve donovan head of mmi japan kk as soon as you close one route another opens mitis pressure has annoyed some makers who had earlier shrugged off miti guidance
the commission also defended proposals to dismantle monetary compensatory amounts mca a system of cross border subsidies and taxes to level out foreign exchange fluctuations for farm exports against harsh west german criticism
education systems espc year net
interstate bakeries ibc buys mexican food firm
new harding earlier reported profit of 653000 dlrs or 19 cts a share for first quarter ended january 31
he said one of the firms with which merrill lynch is negotiating is burns fry corp of toronto which has already received an offer from security pacific corps spc 83 pct owned hoare govett ltd london based brokerage unit
gould did not disclose terms of the deal
the department said the decline in the underlying rate of rise in earnings reflected the reduced significance of bonus payments in january compared with december
however great american has revised its previous estimates of provisions for possible losses and has added 99 mln dlrs to the allowance account as of december 31 1986
seidman said it was too early to say what effect brazils moratorium on debt interest payments would have on us banks
first quarter anchor financial corp shr 31 cts vs 31 nine months biomet inc shr 49 cts vs 36 federal co shr 355 dlrs vs 166 richardson electronics shr 59 cts vs 53 year eac industries inc oper shr loss 65 cts vs loss 97 cts fine art acquisitions shr 15 cts vs 10 mangood corp oper shr loss 607 dlrs vs loss 764
the white house economic policy council made a recommendation to president reagan whether to retaliate against japan for alleged unfair practices in semiconductor trade us officials said
multi media barter ltd said it expects to report a net loss of 820000 dlrs or 17 cts a share for the year ended december 31 compared to a loss of 553000 or 11 cts a share in the prior year
the illegal trade in cocaine is west germanys most worrisome drug problem west german officials said
the margin was originally set at 625 basis points over bank bill rate for up to 50 mln dlrs and at 25 basis points for the remaining 50 mln dlrs
the st lawrence seaway between lake ontario and montreal is still scheduled to open for the shipping season on march 31 a seaway official said
it said this figure was bolstered by profits of firms such as electric power and gas companies which have benefitted from the yens appreciation
trade friction threatens to topple nakasone
ubs nikko securities co international inc and yamaichi international america inc have also applied to the fed for primary dealership status
both offerings will be through merrill lynch capital markets
results restated for pooled acquisitions
this weeks meeting came after three latin american presidents meeting in montevideo called for stable interest rates on the regions 380 billion dlr foreign debt
shr profit 15 cts vs profit four cts annual div 72 cts vs 72 cts prior yr net profit 72000 vs profit 16000 revs 7075000 vs 2330000 12 mths shr profit 42 cts vs loss 11 cts net profit 203000 vs loss 55000 revs 161 mln vs 3971000 note annual dividend payable april 10 1987 to stockholders of record on march 27 1987
net 90501 vs 56960 assets 420 mln vs 349 mln deposits 359 mln loans 276 mln vs 239 mln note earnings per share and 1985 deposits figure not supplied by company
the us trade act of 1974 says that to qualify for gsp china must be a member of the general agreement of tariffs and trade gatt for which it applied in july 1986 and not be dominated or controlled by international communism the official said china was well aware of the laws some of which date to the anti communist early 1950s but that there is not sufficient political will in the us to change them
the sources said about 706470 tonnes of french sugar and 79000 tonnes of german sugar had been accepted the remainder being rejected as of too low quality
he said september marks could close in on 05700 as an upside target while swiss francs could climb to a range between 06900 and 06950
finally virtually all major us chemical manufacturers have embarked on an extensive corporate restructuring program to mothball inefficient plants trim the payroll and eliminate unrelated businesses
selling during the london trading morning was largely attributed to japanese institutions
the four major japanese securities houses now take turns underwriting corporate bonds
m 1 a which is m 1 plus daily interest chequable and non personal deposits rose 778 mln dlrs to 7595 billion dlrs and m 2 which is m 1 a plus other notice and personal fixed term deposit rose 109 billion dlrs to 17795 billion dlrs
lee has said he bought the penobscot stock for investment purposes only and has no plans to seek control of the company although he may buy more stock
this paradoxically is creating a problem for the maize board kahn and kahn said
rhodes inc rhd declares dividend
the company said that in the event of certain triggering events described in the rights plan holders of the rights other than an acquiring person will be entitled to acquire northeasts common shares having a market value of twice the then current exercise price of the rights
mulford said the administration wanted to achieve a pattern of higher growth overseas as a way of improving the us trade deficit
consultations are the least that can be expected said one banker
reynolds said the debentures which will be offered in denominations of 1000 dlrs may be converted into reynolds common and are redeemable in whole or in part at the option of the company after apil 1 1989
there also is a 1 8 pct praecipuum
the developing worlds most indebted nation is also its most prolific exporter of agricultural commodities such as coffee and soybeans and might maximize foreign exchange revenue by selling hard on world markets economists said
it then presented the paper to mexicos central bank and received the equivalent of 100 mln dlrs worth of pesos which it invested in its local subsidiary to produce cars for export to north america
rivkins firm is 50 pct owned by hongkong and shanghai banking corp hkbhhk unit wardley australia ltd and plans a public float of between 25 and 30 pct
morgan stanley said it bid the columbus and southern ohio mortgage bonds at 99609 and set a coupon of nine pct and reoffering price of par to yield 140 basis points over the off the run 9 1 4 pct treasury bonds of 2016
a and p is 524 pct owned by tengelmann warenhandelsgesellschaft of west germany
the government said it raised the export duty on processed palm oil ppo to 6406 ringgit per tonne from 4096 ringgit effective from march 1
the philippines will ask the us agriculture department usda to increase its 1987 sugar import quota following market reports that taiwan will not be able to fulfil its quota sugar regulation administration sra chairman arsenim yulo said
scitex corp scixf 4th qtr loss
it said a further statement would be made as soon as possible
oper shr 11 cts vs five cts oper net 248000 vs 122000 sales 7269000 vs 5481000 year oper shr 55 cts vs 14 cts oper net 1288000 vs 333000 sales 262 mln vs 176 mln note net excludes discontinued operations nil vs gain 103000 dlrs in quarter and losses 82000 dlrs vs 50000 dlrs in year
petrol station owners in four states also continued their shutdown and there were fears that the combination of the two stoppages could lead to a serious fuel shortage
the tokyo metropolitan government said it would float a 100 mln dlr 10 year bond with a 75 pct coupon in new york its first yankee bond issue in 21 years
stanley katz said
triton energy corp said proven reserves of the villespedue oil field in frances paris basin were estimated at a total of 675 mln barrels on march one up 39 pct from 487 mln barrels on may 31 1986
dividends on the shares will stop accruing on and after their redemption date as well stone container said
volvo issues 70 billion eurolire bond
sellers quoted a nominal offering level of 320 dlrs per tonne c and f north german ports
it is not taking up any 26 week notes
the dividend is payable march 31 to shareholders of record march 20 american city said adding that future dividends will be paid on a quarterly basis
the minnesota senator said he might offer the bill on the senate floor or in a conference committee with the house of representatives in the event a similar bill before the house agriculture committee is approved by that body
kuwait had earlier considered having both ussr and us escorts but the us was unwilling to give the soviet union a naval role in the region the newspaper quoted the officials as saying
he also said he was satisfied with the current dollar mark exchange rate but added that he was not certain if it was ideal for the west german economy
in some cases the results were substantially different than the oecds in part because farm policies in both the us and elsewhere had changed markedly by 1982 84 from the oecd base period of 1979 81 us officials said
in other sectors euroyen also maintained its firm tone
usx x says talks ended with british petroleum
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
he said if cereal prices in europe fall so that they are close to world prices the tapioca market there will disappear completely he said the issue may put thailand in a dilemma because it had recently joined other major commodity producers in calling on the ec to cut its farm product export subsidies
centel is asking shareholders at the annual meeting to approve the tripling to 120 mln in authorized shares
it is too difficult to forecast now
crude oil runs are expected to be unchanged from the previous week or slightly higher or lower
the yens movement in the past several weeks is within the range agreed in paris in febraury he said
the study said ore reserves including dillution were 3302000 tons at 077 ounces of gold per ton at a cut off grade of 0026 ounces per ton and stripping ratio of 424 to one
these firms are likely to join the syndicate which will increase the number of participants in the 10 year government bond primary market securities managers said
a swiss bank economist said he believed the markets were ready for a period of mainly sideways movement but milan dealers were sceptical about the communique contributing to greater stability
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
results for tel aviv israel based company translated at rate of one dlr to 1485 new israeli shekels
the company said it has decided to sell plainwell in ordfer to focus on the production of kraft and tissue products containers and treated wood products
we expect a common effort between the central bank and arab central banks and monetary authorities to create an arab fund to support and preserve the value of the currency when needed he said
mathematical applications said it is talking to debenture holders its landlord a lessor of equipment to the marketing operation and holders of other liabilities not being assumed by pagex to arrange distribution of assets after the proposed sale adding that these assets will be significantly less than its liabilities
ontario treasury bill yield edges up
mci communications corp mcico 3rd qtr net
rice imports increased to 824 billion malagasy francs during the first nine months of last year from 20 billion in the same period of 1985 the ministry said without disclosing the tonnages involved
engelhard builds plant in japan
if you want my objective view i dont expect a drastic improvement in our trade imbalance
the g 10 met briefly before the international monetary fund interim committee meeting scheduled for today
prudential insurance year earnings
the bill would direct treasury secretary james baker to discuss with debt ridden developing countries the possibility of the us setting up a public debt management agency that would purchase their debt at a discount and negotiate the restructuring of the debt
however the meeting did not identify what those areas are carney said
us crude oil and gas liquids production last year fell to an average of 33290 barrels per day from 34102 barrels per day in 1985
in a summary of its weather and crops bulletin the agency said planting increased in california as soil temperatures improved
he said about 20 pct of the companies products overlap
congress would approve an initial us subscription of 22 mln dlrs
participants in the meeting included cargill inc continental grain co louis dreyfus corp union equity cooperative exchange the national association of wheat growers the national council of farmer cooperatives among others participants said
jp morgan and co bankers trust new york corp btn manufacturers hanover corp mhcn and chemical new york corp fnbfn have asked for securities business licenses
harahap said indonesia would maintain its exports despite making recent palm oil purchases from malaysia so that it could possibly increase its international market share
asked by reporters if somebodys head should roll because of the wall street retreat texas democratic senator lloyd bentsen said with some irony oh i think its much too late to be doing that you have an administration thats taken the attitude that we can put the country on automatic pilot and retire to the living room to take a nap
japan economy seen growing 36 pct in 1987 88
he said recession stemming from sliding oil prices had clearly had a negative impact on the development of capital markets in the region in addition family firms are reluctant to go public financial awareness among investors is still lacking and investment analysis and corporate reporting standards lack depth
al wattari noted that total opec output was below the organizations agreed ceiling for all member countries in february although this had meant sacrifices
staley continental inc said it sold its 50 interest in sociedad iberica de molturacion sa simsa a soybean and sunflower seed processing company based in madrid spain
in september 1983 the uk government sold 150 mln shares in an underwritten offer for sale by tender
nathan believes the fed has let market pressures lift short term rates in recent days to help the ailing dollar
terms were not undisclosed
copper shares which have lagged behind the market should pick up steam this year on stronger demand and improving prices for the metal analysts said
state owned taiwan power co will boost its domestic borrowings to further cut its foreign debt in line with a government policy to trim the islands huge foreign exchange reserves a company official said
donald houston administrator of usdas food safety and inspection service fsis told a house agriculture subcommittee usda was developing a proposed change in regulations that would put an end to the current practice of permitting foreign meat products to be unloaded at one port and inspected at another port
polyphenylene sulfide is widely used in the electronic automotive and petroleum fields
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
it said shareholders at the annual meeting approved a doubling of authorized common shares to 30 mln from 15 mln and a limitation of directors liability
during that period no zambian copper had been shipped through zimbabwe to the mozambican port of beira the only other available route which avoids south africa mapara said
silver futures were trading about 30 40 cts weaker in the nearby contracts amid quiet trading today
the transaction is subject to both regulatory and shareholder approval
it said about 300 of these claims have been filed since confirmation of the joint plan of reorganization
amvestors financial corp avfc offering of 25 mln shares of common stock through smith barney harris upham and co inc and morgan keegan and co inc
a new cocoa agreement came into force in january but delegates could not agree buffer stock rules at that time
what has helped the canadian currency she noted is an increasing proportion of foreign funds flowing into the canadian equity market particularly from japanese investors
next week ohio river owensboro south 125 pct bid 132 1 2 offered up 7 1 2 points
mortgage bankers strongly opposed the proposed fee increase
the banks certificates of deposit were upped to aa plus and a 1 plus from a and a 1 respectively
the basic stance of the japanese government is to tackle the issues with all available resources the united states has accused japan of reneging on an agreement that called on it to stop selling cut price computer microchips in world markets and to try to import more american semiconductors
the company said kaltenbacher owns 30 pct of seton stock and other management members another 75 pct
the patent strengthens genzymes proprietary position as the leading independent supplier of diagnostic enzymes and substrates henri temeer genzyme president said
safeguard said the investment gives it a major ownership position in sanchez which specializes in software products for financial institutions
the most likely venue for the envisaged firm is the caribbean tax haven of the cayman islands the sources said
corn and soybean basis values continued to drop on the illinois and midmississippi river due to the strong barge freight rates
marion laboratories inc said its board declared a two for one common stock split in the form of a dividend with distribution april 21 record march 25
uncertainty abounds as to the firms future ownership management and direction the rating agency said
sungard data systems inc sndt offering of 12 mln shares of common stock through alex
today it reported a loss for the first quarter ended in january of 368188 dlrs compared with a 149334 dlr profit a year before
the treasury described the meeting as a very positive private meeting in frankfurt west germany which had been agreed upon last week
around a sixth of this tonnage has so far come in under a reduced levy system and the ec cereals management committee may decide this week to authorise the spanish intervention board to make direct purchases
funaro however said most creditor banks had representatives in brazil who were well aware of brazils new economic measures designed to curb a surge in inflation and spending and a sharp drop in exports
it has received 107 billion dlrs from the world bank in the past 20 years
consumer prices were set to fall by 15 pct this year the cpb said
the result of the negotiations was still open
becor also said discussions continue with one other possible bidder which it still has not been identified
prices had also been forced down because refineries were using up old stock he said
treasurer joseph smorada and vice president joseph odonnell who made 143325 dlrs last year would get one and a half times his salary if there were a change in control
singapore monetary exchange faces non asian rivals
the government has pledged to privatise 66 state owned industrial banking and insurance companies by 1991
trying to artificially depress the dollar severely below current levels would exacerbate financial market conditions and lead to further potential for financial problems nowhere johnson said are fed officials hearing that us businesses cannot compete at current exchange rates
the economy ministry said perus debt to the world bank was 521 mln dlrs at end 1985
inoc then proposed to deliver eight shipments of 30000 tonnes each
france hlm launches 750 mln franc bond
fairchild semiconductor corp president donald brooks said he intends to take a management buyout proposal to the companys parent at some point in the future and substantial funding is available for such a purchase
dixons said today that it purchased the tendered shares which when combined with the shares it already holds gives it a 217 pct stake in cyclops
the moves might persuade the us to call off the sanctions despite obstacles to full implementation of the plans analysts said
but he said the market rushed to sell dollars as it nervously reacted to statements abroad and to developments surrounding trade tensions
wiehn said incoming orders in the first five months to end february totalled 250 billion marks compared with 204 billion for the same period in 1985 86
oconnors action came hours after a three judge panel of the 9th us circuit court of appeals in san francisco had blocked the merger until a dispute over union representation had been settled by arbitration
the paris accord stated the six would cooperate closely to foster currency stability around current levels
its first two quarterly payments in september and december were 425 cts each
central and south csr unit to redeem stock
the country which has enjoyed strong political support in washington since corazon aquino came to power early last year owes an overall 278 billion dlrs of debt
agas german contended that despite the drilling decline much of us proved reserves could be brought to production quickly through developments such as the infill drilling which permits more wells to be drilled in proved reserve basins
us weather cotton summary usda noaa
reagan says there is room for further declines in interest rates
if texaco doesnt get crude supplies it cant run its refineries so its other assets would not be worth anything he added
the secs wppss investigation began in late 1983 and the agencys slow pace on the probe has been publicly criticized on several occasions since then by rep
usairs balance sheet and cash flow support of debt among the strongest in the industry would be weakened by financing all cash acquisitions of piedmont and psa inc
the subsidiary is expecting to cut its workforce to 6000 this year and 5000 in 1988 from 6800 last year under a job reduction scheme which will eventually save the group 600 mln francs he said
corn prices were pressured by the outlook for 676 mln acres of corn which is down from last years 767 mln acres but was larger than analysts expected
the oil exporting member nations of the idb faced a major adjustment problem arising from a sizable decline in oil prices and loss of export earnings affecting their position as potential suppliers of capital the report said
the new reference price would then be taken over for the new agreement
the stock exchange is virtually certain to agree to change its regulations in order to permit when issued trading of uk government bonds gilts as part of an experimental series of bond auctions later this year market sources said
zimbabwe government buys into astra
the march delivery ceases trading march 17 making may and july the two nearby unlimited positions
becor western the amended davis mining offer is suject to confirmation of certain due diligence information
scott and stringfellow scoto 3rd qtr mar 31
the company said proceeds will be used for general corporate purposes including repurchases of rjr securities
thailand exported 84960 tonnes of rice in the week ended february 24 up from 80498 the previous week the commerce ministry said
he said he was concerned that hostile takeover attempts were hurting the economy a view shared by corporate executives who tesitified at the hearing
as to differentials ghana apparently wanted a higher differential for its cocoa than is outlined in the most recent proposal so it would have a better chance of having its cocoa bought for the buffer stock producer delegates said
the reagan administration has asked lugar to offer the measure the aide said
he declined to elaborate
the borrowing countries need to be able to proceed with confidence that the necessary funds will be available to them he said
secretary of state for the economy guillermo de la dehesa told in a recent interview the reduction in fixed asset investments would offset losses from the rate liberalisation
the weighted average yield on 30 mln dlrs of 56 day bill was 2550 pct it said in a statement
us sells 3 mo bills at 555 pct stop 556 pct 6 mo 555 pct stop 555 pct
ltv corps ltv missiles and electronics group said it received a 283 mln dlr contract from the us air force for continued design and development of an anti satellite weapon system
gabelli said he amended certain filings with the securities and exchange commission because his clients are now passive investors
zero coupon forgeries have turned up in the euromarket before
icco executive director kobena erbynn was preparing the plan in consultation with other delegates for presentation to the full working group they added
but there is really no need for such quotas
baker then filed a suit seeking punitive damages from hughes for calling off the merger
we have to thread our way through a constellation of banks all of whom have different objectives he said in order to survive the philippines would have to try and stimulate new types of inflows whether this be direct investments whether this be investments by institutions that now have chosen not to lend but to invest or whether this be debt to equity conversions
co lead will be privatbanken
arkadi kuhlmann president and chief executive officer of deak international said the purchase will expand deaks operations in the precious metals and wholesale non ferrous metals trading arenas
it said crop conditions were better than earlier expected following the extreme dry conditions last fall and the prolonged winter temperatures this spring
indias raw cotton export quota has been raised by 190000 170 kg bales to 600000 bales in 1986 87 ending august still well below the 1985 86 quota of 135 mln bales minister of state for textiles rn mirdha said
period ended february 28 shr 25 cts vs 25 cts net 6292000 vs 6340000 sales 970 mln vs 870 mln six mths shr 36 cts vs 28 cts net 9122000 vs 7053000 sales 1932 mln vs 1686 mln note 1986 period ended march one
humana hum to sell medical offices
shr 10 cts vs 32 cts net 975000 vs 3145000 sales 1591 mln vs 1473 mln
shr 85 cts vs 73 cts net 3150000 vs 2699000 sales 398 mln vs 343 mln nine mths shr 219 dlrs vs 186 dlrs net 8109000 vs 6876000 sales 1115 mln vs 1007 mln note 1987 tax credits added 14 cts to third quarter net and 33 cts to nine months net compared with credits of 16 cts and 45 cts in the respective 1986 periods
if they buy for ten and sell for eleven and think its a good deal they are free to go ahead one source added
startel stas to have loss sales drop
pratt prat offer for resorts rt expires
sci med said it continues to believe the patent suit is without merit
wr grace and co said it has agreed to combine its cocoa processing businesses with those of s
congressmen from beef producing states and representatives of the us livestock industry urged the reagan administration to press japan and south korea to open up their markets to imports of beef
one dealer said if the central bank wanted lower interest rates it would first of all drive call money rates down banks remained relatively well stocked with minimum reserve assets
shr 95 cts vs 36 cts net 9100000 vs 3300000 revs 1437 mln vs 1324 mln avg shrs 9884000 vs 9780000 nine mths shr 277 dlrs vs 149 dlrs net 26600000 vs 19000000 revs 4018 mln vs 3852 mln avg shrs 9871000 vs 12565000 note 1986 earnings include a loss from discontinued operations of 1000000 dlrs or 10 cts a share in the quarter and a gain of 2500000 dlrs or 19 cts a share for the nine months
effective annual yield after tax for the first cts issue will be 966 pct
details of the deal are likely be decided next week and the firm set up before the end of the month they said
the liberian motor bulk carrier trave ore 106490 dwt loaded with ore and the 2852 dwt west german motor vessel christa collided late last night on the river elbe near buoy 129 lloyds shipping intelligence said
the company said marshall who had been executive vice president of new york toy company playtime will have responsibility for the distribution of toys and bushnell will concentrate on research and development and licensing
there are no more survivors from a british cross channel ferry disaster off the belgian coast and almost 200 people seem certain to have perished a senior belgian official said
the plants produce only basic commodity petrochemicals that are the building blocks of specialty products
the drought has also increased the number of forest fires
aegon issues 200 mln guilder bonds with warrants
following the selloff in takeover stocks last week and the markets decline this week dayton hudson stock closed at 27 1 2 today off 2 1 2
quaker oats co oat regular dividend
there are also signs of some opec crudes being sold in the spot market at below opec official prices traders said
duenas and four other military men who were assigned to the authority in 1978 will return to the ministry of defence where they worked prior to their appointments at the coconut agency
non callable for two years the issue is rated bb by standard and poors corp
record wheat production in 1986 87 is pushing global wheat consumption for food to a new high and higher yielding varieties have been particularly effective where spring wheat is a common crop it said
slifer sees stronger growth of 10 pct in m 1 and five pct or less for m 2 and m 3 but the rates would still be moderate enough to encourage the fed to ease policy if gross national product for the first quarter proved to be weak
but they indicated that ibms chances for a full recovery hinged on several key factors whose impact will not be felt until later in the year
gros said negotiations with the commercial creditors would start within two weeks when he and finance minister dilson funaro attend council meetings of the international monetary fund imf in washington
leaf disease hits sri lanka rubber
qtly div 28 cts vs 28 cts prior pay april 20 record march 31
turnover 578 billion francs vs 653 billion
prospects of an agreement on rescheduling about 94 billion dlrs of philippine foreign debt have increased following the offer of a higher interest rate by manila officials foreign banking sources said
smith barney harris upham and co analyst james wilbur removed hercules inc from the firms recommended list citing the firms moves into the aerospace business traders said
were getting good compliance from markets from packers and from dealers rosendale said
symbol technologies inc said it called 610000 outstanding five year stock warrants issued in 1985 and 1986 to reliance insurance co a subsidiary of reliance group holdings rel the company said cash proceeds from the warrants will be 6065000 dlrs
qtly div five cts vs three cts prior pay april 10 record march 31
canadian foreign reserves surge in month
the transactions are subject to definitive agreements and government approvals
this compares with the banks forecast of a 400 mln stg shortfall today
sapporo breweries issues five year sfr notes
shr loss 160 dlrs vs loss 45 cts net loss 9883000 vs loss 2744000 revs 1309000 vs 3289000 nine mths shr loss 229 dlrs vs loss 98 cts net loss 141 mln vs loss 6008000 revs 4577000 vs 119 mln note 1986 net losses inlcude 7507000 dlr charge from discontinued operations of building management system sold to cetek system inc on jan 30 1987
mony real mym reports portfolio
the coffee sugar and cocoa exchange amended regulations governing expanded trading limits on coffee cocoa and sugar contracts to provide uniformity
eighty one pct of the membership voted he said
if you dont get those seven billion dlrs there is no plan
the paper gave no further details
he said the current debt service ratio over 40 pct of export revenue was too high
i think any central bank certainly this one after the events of the past two or two and a half years has to be prudent
in 1986 the company reported earnings from continuing operations of 1093 mln dlrs or 350 dlrs a share
we expect two or three more to follow suit during the next season
the option was one of many contained in a report on oil and the national security the energy department sent to the white house on tuesday
thomas and betts corp said the us court of appeals for the federal circuit affirmed an earlier judgment by the us district court for the district of delaware directing a unit of litton industries lit to pay it 5781711 dlrs in damages for patent violations
cif imports were 276 billion against 231 billion in january and 257 billion in february last year
the company is selling 697500 shares and shareholders the rest
soybean shipments to western europe rose sharply because supplies from brazil a traditional major exporter were limited by drought
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
however the situation could change dramatically if the economy goes into recession and internal demand slumps
marketing technologies is developing a computer based advertising system geared toward large advertisers the company said
chartered bank general loans outstanding rose 500 mln dlrs to 12554 billion dlrs
he said after several acquisitions last year good will charges are up
the effect of this outbreak on zimbabwes beef exports is being examined he added in a statement
uganda plans to export roasted coffee to europe by the end of 1988 a prominent local businessman said
cyacq amends cyclops offer conditions says citicorp expands financing
a massive attack on the mark which could come if we get bad news out of the us would require a much higher intervention amount raising the danger of inflation he said
rhine blocked for three more weeks salvager
to the best of our knowledge jefferies is not the target of a formal sec investigation in connection with the tre bid he said
data general corp said it expects to record an extraordinary pretax charge of about 182 mln dlrs in the second quarter ended march 28
it said entrepo has assets of 20 mln dlrs
in the first two months of the year inflation was 38 pct against 36 pct in the same period of 1986
shr loss 173 dlrs vs nil net loss 163 mln vs profit 2206000 sales 691 mln vs 291 mln note per share is after payment of preferred dividends
in the first quarter the bank reported earnings per share of 151 dlr compared to 162 dlr in the same period last year
the government usually considers the output measure the most reliable way of measuring short term gdp changes
the perception of japan in the us congress is very bad one official told 
the price will be increased by it being likely to have much of its debt wiped off by a government anxious to assure the companys health when it has to fend for itself
the kwacha fell from 220 to the dollar to about 15 in 16 months
the japanese think ec firms are now more competitive than us firms a factor which is aggravating the exchange rate imbalance and which will cause problems
the issue will be sold in denominations of 1000 and 10000 marks and listed in frankfurt
indonesia has undertaken reforms to meet external problems saleh said
anchor glass agls now sees higher 1st qtr net
moodys expects minnesota powers earnings returns coverage ratios and cash flow measures to decline substantially during the next few years
profit at williams gas marketing rose to 26 mln dlrs from about 22 mln and the william pipe line co had operating profit of 494 mln dlrs versus 636 mln dlrs a year ago
it said it expects to negotiate a firm order in may
bank of france leaves intervention rate unchanged at 7 3 4 pct official
xebec corp said it expects to report a loss for its second quarter ended april three due principally to a decline in sales to international business machines corp ibm the companys largest customer
west virginia has been declared free of tuberculosis and brucellosis from its cattle population the us agriculture department said
bank of japan buys dollars in tokyo dealers say
but the japanese minister for post and telecommunications was reported as saying that he opposed cable and wireless having a managerial role in the new company
management board member hans baur told journalists that the acquisition of a joint 20 pct stake in cgct by at and t and philips gloeilampenfabrieken nv pgloas had not been decided on two years ago as claimed by at and t
whippany paper board co inc merger approved
gros will meet representatives of citibank the head of brazils bank advisory committee and of co heads morgan guaranty trust co and lloyds bank plc
this could result in a sharp negative contribution to the currrent account
but the company said its financial advisors have said they believe that after the recapitalization caesars world should have the financial flexibility and resources necessary to finance its current and projected operating and capital requirements
pennzoil co pz offering of 100 mln dlrs of debentures due april 1 2017 through merrill lynch capital markets and lazard freres and co
they said mexicos new debt package last october marked a 1 16 point drop from its 1985 debt agreement while manilas new pact slashed its 1985 agreement by up to 3 4 percentage points
similar fixing was reported yesterday at 6000 dlrs
powerine oil co said its refinery here will resume operation today with initial crude oil runs of 20000 barrels per day
non currency reserves were unchanged at about 25 billion marks bringing net monetary reserves to 845 billion
aequitron medical inc said costs related to its previously announced plan to consolidate life products operations in boulder colo are expected to total 720000 dlrs or eight cts a share for the fourth quarter ending april 30
trading range likely to continue in debt futures
the loan renegotiations could involve bankruptcy or other litigation connected with the specific properties involved and could involve the suspension of interest and principal payments to some of the lenders
its difficult for any farmer to not go along with the program this year soybean acreage is also expected to decline this year but at a much slower rate of around four pct usda analysts said
but he said lebanon needed foreign support for its war battered economy now more than ever before
the debentures are convertible into the companys common stock at 40 dlrs per share representing a premium of 236 pct over the stock price when terms on the debt were set
brazilian soy rainfall
moodys will also take into account intensifying competition and pricing difficulties in danas highly cyclical core truck and industrial markets
trade sources here confirmed earlier tentative reports that bangladesh had bought 200000 tonnes of optional origin feed wheat late last week and over the weekend
ente nazionale per lenergia elettrica issued a 15 billion yen bond due 1994 at 4 3 4 pct and priced at 101 7 8 pct
one said it purchased 150 to 200 mln dlrs in the half hour since the market re opened after its lunchtime closure
us bancorp currently owns 49 pct of old nationals stock
but the economists said this will be possible only if the organisation of petroleum exporting countries opec succeeds in defending world oil prices and if saudi arabia is not forced to curtail output for too long
convergent inc cvgto 3rd qtr net
noranda sets temporary mine shutdown
graphic industries grph ends buyout talks
bsn bsn share sale advances
debt prognosis agreed but no cure in sight
the ministers and governors reaffirmed the view that around current levels their currencies are within ranges broadly consistent with fundamentals last weeks statement read
gelco corp said it signed a letter of intent to sell its canadian courier unit gelco express ltd to air canada for about 54 mln dlrs us it said consummation of the transaction depends on execution of a definitive agreement which is expected in may
shr three cts vs three cts net 141224 vs 118192 sales 5849695 vs 3717794 avg shrs 4975000 vs 4925000 year shr 15 cts vs 10 cts net 720126 vs 474879 sales 182 mln vs 115 mln avg shrs 4959932 vs 4902778 note 1985 year net includes gain of 58000 dlrs or one cent a share from tax loss carryforward
the bonds will be sold by a syndicate led by salomon brothers inc
us says no signal being sent by ship movements
market queries here centred on whether the 12 companies involved in mergers referred to in the sec complaint included british companies such as guinness plc guinl which have featured in recent official inquiries
llc llc amalgamated report six months net
he added ecuador also wanted to make up for 50000 bpd it shipped to caribbean destinations
the federal national mortgage association said it will begin purchasing 10 and 20 year fixed rate mortgages in addition to 15 and 30 year mortgages
the bank will be listed on the nancy stock exchange in line with the finance ministry and governments aim of a regional operation geronimus said
foreign exchange trading income rose to 82 mln dlrs from 726 mln and trust income increased to 959 mln dlrs from 759 mln
money market dealers said the total amount allocated was in line with expectations and would be sufficient to cover the money market shortage for the duration of the facility
for example between 1985 86 and 1986 87 the ec intervention price for bread wheat fell from 20930 to 17944 european currency units ecus it dollar terms the currency in which most export transactions are denominated the intervention price however rose to 193 dlrs from 168
the api recorded a 74 mln barrel stockdraw for us distillates in the week ended march 13
david bryson of moss lawson and co also noted that british petroleum plc bp is mentioned as a possible buyer despite bps 70 us dlr per share bid two weeks ago for the 45 percent of standard oil co srd it does not already own
piedmont currently carries baa 2 preferred stock and prime 2 commercial paper
amvestors financial avfc sets stock dividend
lyphomed lmed sells convertible debentures
shr loss three cts vs profit 14 cts net loss 79778 vs profit 458176 revs 1063623 vs 1165186 note 1986 year includes 400000 dlr writedown on utah oil and gas properties
the partners said if they succed in acquiring gencorp they intend to consummate sale of wor tv in new york to mca inc mca gencorp last year entered into an agreement to sell the station for 387 mln dlrs
unemployment is currently at 82 pct of the workforce
non callable for two years the issue is rated b 2 by moodys and b minus by standard and poors
base rates are now at 10 pct
combined fourth quarter pre tax profit 110 billion guilders vs 111 billion making 369 billion guilders vs 381 billion
german net currency reserves rise
it quoted a presidential decree appointing oil ministry undersecretary isam abdul rahim al chalaby as the new oil minister
vestar inc vstr year loss
ex usda official urges chicken handling labels
the decision is up to the rhode island legislature
the offer to be made through mark iv acquisition corp a wholly owned subsidiary will not be conditioned on any minimum number of shares being tendered the company said
the industrial action at the nsw ports is part of the week of action called by the nsw trades and labour council to protest changes to the states workers compensation laws
panteras corp said it closed on its agreement to acquire ten pizza restaurant locations in southeastern colorado
gene moos aide to house majority leader tom foley d wash predicted agricultures share of budget cuts may exceed one billion dlrs
shr na vs na net 46000 vs 106000 revs 198 mln vs 190 mln year shr 26 cts vs 26 cts net 13 mln vs 13 mln revs 821 mln vs 1053 mln note1986 net includes 870000 dlrs charge
the bank of england said it had provided the money market with a further 437 mln stg assistance in the afternoon session
the inter american development bank said it intended this year to match the over three billion dlrs it lent to latin america in 1986 despite growing pressures on its capital
we telexed them saying that if they insisted we would rather cancel the contract and buy the product elsewhere santana said
while the automobile industry remained unchanged from previously boosted levels consumer goods production grew and was expected to accelerate except in the area of domestic appliances
norway which pumps around one mln bpd from its offshore fields previously said it would continue its output curbs from planned production for the rest of the year if opec remained within its december accord on output and prices
today all were traded at 5 3 8 to 5 1 2 pct
some delegates said the us position appeared to give such broad interpretation to the rules as to suggest that the civil aircraft accord needed re negotiating
american express up on rumors 10 pct of shearson to be sold to japanese firm traders say
the lewiston bank which has been renamed first of america bank lewiston has assets of 549 mln dlrs
prebble said access to new sources of capital would increase its ability to expand and develop
uk unemployment fell a record provisional seasonally adjusted 64300 in may to a total 295 mln or 106 pct of the workforce the employment department said
the venezuelan state aluminum company venalum is negotiating a total of 1239 mln dlr in credits from abroad for a planned expansion of production faciities finance minister manuel azpurua said
corning glass glw sells debt at 825 pct
an importers association official said that even if the department no longer imports sugar we would not necessarily buy more this is because the association would still have to compete with the cooperatives wholesale establishment cwe he said
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
chrysler credit canada issues 75 mln can dlr bond
uk feb retail prices up 04 pct base revised year on year rise 39 pct official
the shares will be convertible anytime after issue into common shares at an equivalent conversion price of 3250 dlrs a share
the notes are non callable for five years
rjr nabisco said the charges reflect reserves it established to cover certain expenses
allegis aeg to sell canadian hotels
the may deficit compares with a surplus of 1555 billion lire in the corresponding month of 1986
the union said it filed suit following the leveraged buyout to protect the claims of union members
csp inc cspi 2nd qtr feb 28 net
8 1 2 pct bonds due june 1 2011 at a price of 98625 pct to yield about 863 pct to maturity
us says canada complying with lumber pact
reed told that gencorp chairman a
he said wppss had made no public forecasts of power demand in connection with the bond sale and had never understated the cost of the plants
in april monthly inflation reached 21 pct
the reagan administration will consider curbing foreign takeovers of security sensitive industries such as semiconductors and computers the new york times said quoting an unnamed senior administration official
but atts overall competitive risk continues to grow as it extends beyond its traditional business area s and p noted
he said we will be able to define a movement either towards market stability and price recovery or depending on the market a reversal earlier this week hernandez said venezuelas oil price has averaged just above 16 dlrs a barrel for the year to date
peoples earned 105000 dlrs in last years first quarter and in all of 1986 lost 1768000 dlrs
us commercial paper rises 35 mln dlrs in march 18 week fed says
drawings under both tranches will be at 175 basis points over the london interbank offered rate
the best crepe one x traded at 2368 rupees a kilo averaged 1975 at this weeks auction
qtly div 87 cts vs 87 cts pay feb 17 record jan 20
the us international trade commission itc voted to authorize the commerce department to impose anti dumping duties on imports of brazilian frozen concentrated orange juice
in testimony before the senate committee on governmental affairs baker conceded that the effect thus far has not yet proved as quick or as strong as had been expected from past experience he told the committee however that the initial signs are encouraging
rha said that 1986 was the first year south korea had a trade surplus 45 billion dlrs against a 1985 deficit of 900 mln dlrs
the locals part of united steelworkers of america represent 2600 production and maintenance workers
we have sold 20 to 25 pct of the ge notes
a norstar spokesman said that a press release containing further details on the merger would be issued shortly
a lot of companies have looked at fairchild and would be willing to buy it among the companies that would be interested in bidding for fairchild are advanced micro devices amd sunnyvale calif and lsi logic corp llsi milpitas calif industry analysts said
qtly div 54 cts vs 54 cts prior qtr pay 1 may record 10 april
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
bankeast corp benho 1st qtr net
canada industry prices fall 02 pct in month
shr 10 cts vs 11 cts net 547000 vs 579000 sales 110 mln vs 111 mln year shr 46 cts vs 52 cts net 2500000 vs 2841000 sales 407 mln vs 405 mln
an exchange spokeswoman said the change will allow oil traders that do not hold a futures position to initiate after the exchange closes a transaction that can subsequently be hedged in the futures market
first boston corp said it is selling 150 mln dlrs of deposit notes due 1992 that it bought from mellon bank na a unit of mellon bank corp
they were also reluctant to veer from the principle that interest should be paid in cash not paper fearing that other debtor nations would emulate the idea bankers said
repayments stood at 55 billion for the year up from 31 billion in 1985
natwest rabo unit reports 88 pct profit growth
shell previously reported 1986 operating profit fell to 130 mln dlrs excluding a 24 mln dlr unusual gain from 146 mln dlrs in the prior year
west german exports to latin america declined by 41 pct in 1986 to 11 billion marks
there is a commitment fee of 1 2 pct
abc said the final option gives investcorp the right to request facilities on an uncommitted basis
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
contrary to the diw and ifo the three institutes said that while exports would continue to be the weak point of the economy in 1987 there is good reason to believe that exports will soon bottom out and that a slight rise will emerge during the course of the year they predicted an overall 05 pct fall in exports in 1987 the same as in 1986
some commercial banks have recently taken extraordinary measures to deal with third world lending strategies
hillsdown holdings plc hldnl 1986 year
viatech inc vtk year net
however ellen haas executive director of public voice for food and health policy said bird by bird inspection should be retained and labels should be attached to each ready to cook chicken to remind consumers about preparation procedures necessary to avoid illness
ecuador to ask opec to raise export quota
sorghum accounts for 40 pct of the raw materials needed by chinas breweries it added but gave no more details
part of the blame goes on other countries which have not generated the economic growth to increase demand for us goods and part to some us companies which are not generating competitive exports he said
i will not comment because the foreign exchange market reads more or less than is intended in my statements baker said
ltv qltv to negotiate with steelworkers
hawkeye reported a 1986 loss of almost 59 mln dlrs citing an increase in its loan loss provision to 347 mln dlrs and restructuring costs of 27 mln dlrs
the 1986 deficit was 1698 billion dlrs and there is as yet little indication that this years figure will be any lower though administration officials have predicted it will drop by about 20 to 30 billion dlrs by years end
wtd industries inc wtdi 3rd qtr jan 31 net
the auction results will be announced tomorrow
cargill uk strike talks to resume tuesday
proceeds of the offering will be used to refund the issues maturing march 25 1987 and to raise additional funds it said
finance secretary jaime ongpin told reporters yesterday the alternative proposal is designed to avoid an impasse when debt rescheduling talks reopen in new york on tuesday
they said chung would leave monday to attend the international monetary funds interim committee meeting and to hold talks with baker and other us officials on ways to reduce the surplus
world vanadium production capacity is still believed to be adequate to cater for any foreseeable demand it added
takemoto said national security should not be an issue since the planned purchase of fairchild from its current owner schlumberger ltd slb does not include fairchilds main defence related division
atari atc cancels domestic debt offering
ec oils tax no longer major issue association
the bank of england is taking a very cautious line to temper the markets first rush of blood to the head after the budget analysts said the banks move today to lend two week cash to uk discount houses at a lower 10 pct suggested it hoped to maintain the new rates for about that period of time
under the agreement the interstate pipeline division of arkla inc will carry up to 25 mln cubic feet of gas a day until dec 31 1987 and subject to capacity up to 50 mln cubic feet a day in 1988 and 75 mln feet a day for the rest of the pact
comdata cdn in merger agreement
baird batm gets temporary restraining order
canada bank rate rises to 859 pct
nippon light metal co ltd nlgtt which has annual capacity of 63000 tonnes will continue primary aluminium production at a rate of 35000 tonnes owing to low domestic and world prices and low water supplies at its hydroelectric power plant a company official said
bhagat told parliament
pesch or anybody else with respect to our holdings in republic health a mcdonnell douglas spokesman told
but the move is a further indication of the strains that have developed between mexico and the banks because of the difficulty of syndicating the huge loan bankers said
the negotiating group on agriculture held its first meeting in february and is expected to meet again in may
british petroleum completes standard oil merger
petro canada believes terra nova field is a good commercial prospect and the company wants to move some of those resources towards development so it can start generating a return on investments petro canada said
the united states and the six major industrial countries are fully committed to implementing our undertakings in these agreements baker told the meetings
construction of the 510 mln yuan plant began in april 1984
he also said that further acquisitions of school bus operations in the us are likely within the next few months
simmons said he intends to file a 13 d with the securities and exchange monday reporting a stake of five pct or more in some publicly traded company
its previous dividend payment was five cts on february 24
robert fildes president and chief executive of cetus corp ctuso told that squibb corp is not interested in buying cetus
the basic background which has supported the stocks and bonds markets has not changed said norio okutsu assistant general manager of nikko securities bond department
judges offer of 38 billion pesos is about five pct of the philippines yearly budget ariadnes philippine agent domingo panganiban was quoted as telling reporters yesterday
kiddie products inc kidd year net
but some other analysts were uncertain that even an emergency meeting would address the problem of opec production above the 158 mln bpd quota set last december
whim creek consolidated nl said the consortium it is leading will pay 7655 mln dlrs for the acquisition of cra ltds craas forrest gold pty ltd unit reported yesterday
the company said about 350 jobs will be affected in columbia most of which are now performed by contract workers and about 225 jobs at its tennessee eastman co plant in kingsport tenn
the fact the dollar plunged below 150 yen does not mean anything significant under the floating system he said
shr 61 cts vs 18 cts net 670000 vs 194000 revs 107 mln vs 104 mln six months shr 73 cts vs 35 cts net 798000 vs 377000 revs 195 mln vs 198 mln note1987 net includes gain of 362000 dlrs in 2nd qtr and 431000 dlrs in six months from tax loss carryforward
us producer prices rise 01 pct in february
symbion has 7472000 shares outstanding
the club said it approved of both countries economic and financial programs and would therefore make a contribution to improve their external payments prospects
project implementation is very slow in indonesia and we are not very satisfied with the pace
the central bank said that between january and may ecuador sold 161 mln barrels of crude and 23 mln barrels of products compared with 32 mln and 27 mln respectively in the same period last year
dome mines has guaranteed 225 mln dlrs of dome petroleums debt and has a right of consent to the sale of dome petroleums holding
despite the pact japanese producers are still dumping microchips in foreign markets other than the united states while us penetration of the japanese market has not increased he said
la electricidads problems stem from the governments decision in december to set private debt payments at 750 bolivars per dlr instead of 43 adding 74 pct to the debt in bolivar terms
the company said a report indicated that the burro creek project area which covers 800 acres could have potential reserves of three to four mln tons of gold and silver mineralization
great northern nekoosas last common stock split a three for two was in december 1983 it said
the agency which emerged from bankruptcy court protection when vazquez rana bought it for 41 mln dlrs last june has had four presidents over the past year
however sharp said that internal accounts showed the company was in profit in the first two months of 1987
cambridge analytical caan sees first qtr loss
director in charge of the japanese convertible operation is kelvin saunders who said the desk was currently staffed by seven traders and salespeople
germany and italy were cited as the extremes of polarized government attitudes with most other countries on the fence
caesars world inc said board rejects martin sosnoff tender
the bills many provisions also set as a priority for the us the negotiation of stable exchange rates and urge government intervention as necessary to offset fluctuations
financing from the compensatory facility is meant to offset losses in export earnings and does not carry the same conditions attached to other imf loans
tenera ltd tlpzzo 3rd qtr net
treasury secretary james baker told the house appropriations committee the united states is still pressing newly industrialized south asian nations that have tied their currencies to the dollar to let those currencies strengthen against the us currency
mars store mxxx sees qtr year loss and charge
he told reporters here the ec would not bow to pressure to reach an early seperate agreement on agricultural trade
but we must be very careful he said
macandrews and revlon also said they have reached a settlement with the plaintiff in the pending litigation challenging acquisition of the shares by macanrews
the company said trading in both issues will be suspended by the amex at the close on may one but is expected to start elsewhere on may four
if something was not to be delivered if the statement wasnt considered tough enough one might see a substantial outflow buttrose said
americus trust atu and atp initial dividend
of this 21 mln dlrs was to be paid 11 months later and two mln dlrs per year on the anniversary date of the transaction
schering corp a unit of schering plough corp said natures blend products inc agreed to an injunction against its fiber slim product
peru has about 140 non financial state firms
another arbitrageur said it might not be too late for another bidder to get in the game
shr profit nil vs loss three cts net profit 140022 vs loss 882869 revs 133 mln vs 8870035 avg shrs 450 mln vs 350 mln backlog 1683000 vs 978000 note current year net includes tax credit of 51000 dlrs
the stock could be issued in various series with terms rights and preferences designated by the board in each instance utilicorp said
schleswig holstein lb issues australian dlr bond
us gold silver platinum soar on volcker rejection of 3rd term
it said the shares are owned by wf rockwell jr chairman and chief executive officer of astrotech and s
the company declined to comment beyond this statement
us trade representative clayton yeutter said it was all but certain president reagan would go ahead today and impose curbs on japanese exports as planned
brazilian seafarers strike damages oil exports
shr 12 cts vs one cent net 546000 vs 48000 revs 223 mln vs 160 mln nine mths shr 44 cts vs seven cts net 1857000 vs 303000 revs 655 mln vs 460 mln note per share figures adjusted for three for two stock split paid april 1987
the experts told tehran holds the initiative and is likely to control the tempo and direction of the conflict as long as america simply reacts to iranian attacks by launching limited retaliatory strikes
healthcare international will continue to operate the hospital under a lease agreement the company said
for example earlier this week the world bank raised us dlrs at only 25 basis points over treasuries
twa said it is filing an application with the department of transportation seeking approval of the merger as well as an application for approval on an expedited basis of its purchase of up to 51 pct of usair common and the deposit of the stock in a voting trust pending dot approval
but yates today said a big uk company has in fact said they would go on supplying
share adjusted for stock dividends
non manufacturing sector profits will decline 45 pct in 1987 88 against an estimated 22 pct rise in the current year it said
bankers said the 1986 recovery in earnings stemmed partly from foreign exchange operations and trade finance
measured as an annual average rate inflation in march was 109 pct compared with 111 pct in february
a majority of european community ec member states are either against or have strong reservations over a tax on both imported and domestically produced oils and fats proposed by the european commission senior diplomats said
analysts said entertainment marketing whose revenues and profits quadrupled in 1986 may be looking to break into the highly competitive new york city retail market for consumer electronics the nations biggest at a time the fortunes of electronics retailers have sagged
the yield on the bills for sales to banks and securities houses from money houses will be 39495 pct against the 39375 pct discount rate for one month commercial bills and the 458 42 pct yield on one month certificates of deposit today
bessemer securities corp a new york investment firm cilluffo associates lp a new york investment partnership and related entities said they bought 156000 intermedics common shares between february 24 and march 9 for 14 mln dlrs
the international market is so big and we have such a miniscule share of it that growth opportunities are really limited only by our energy and our desire to find more business he said adding that in trust type services we dont think the international markets are well served aiding royal trusts foreign growth are greater foreign investment interest in north america and increased canadian investment abroad cornelissen said
delta air lines completes acquisition of western air
the increase riased its posted price for light sweet crude oil to 2195 dlrs a barrel from its march one level
burlington northern inc said its burlington northern railroad co unit reached an agreement in principle to settle a class action lawsuit filed against the company in may 1985 by holders of two series of the companys bonds
the year on year rise was 1964 pct up from 3583 billion at the end of december 1985
crossland said salt lake city based western has been combined with its two florida based thrift subsidiaries
currently us wood products are not eligible for government export credit guarantee because they are considered manufactured products amstutz said
coffee futures under dlr a pound at six year low
these powers are currently held by president reagan
avery avy in offering
the newspaper said news of the unexpectedly large 15 billion deficit helped batter the dollars value on foreign exchange markets and boosted us interest rates
the posted price increase follows a similar move by several other oil companies
brazil wants to increase its steel exports to the united states now limited because of tough import restraints set in 1984 by the reagan administration a spokeswoman for the brazilian steel institute ibs said
a spokesman for c
brazil has no set coffee export targets ibc
atlantic richfield said the divestitures are in line with its policy of focusing resources on oil gas chemical and coal operations
this year current exchange rates were used for the first time instead of a fixed rate of 2453 dinars to the dollar
leigh pemberton opposes takeover protection rules
conagra fell one to 33 on the new york stock exchange
many of the major us firms including merrill lynch and co shearson lehman brothers inc and chemical bank trade for their own accounts here
peninsular and oriental 1986 year
alcan raises aluminum prices two cents a lb
it said two miller tabak representatives will be named to the penn traffic board on march four to serve as the only directors with penn traffic president and chief executive officer guido malacarne
1 well vermillion parish la
a court in amsterdam ruled last week the employers had made an error in the complicated procedure for obtaining permission for the redundancies and therefore could not proceed until a final ruling on may 7
however us sources said west germanys support was at times qualified and there is some concern that the european community could come under pressure to be more accommodative to producers in future talks
the company said the redemption price is at 10455 pct of face value plus 4061 dlrs accrued interest from october 1 1986 to the redemption date making for a total of 108611 dlrs for each 1000 dlrs face value
the group which had owned as much as 95 pct of the total said it sold the stake on march 27 at 15 3 4 dlrs a share
patents and licensing agreements control the use of sucralose through the year 2001 johnson and johnson said
the real question is how broad the valley is is it one year two years or three years before we start to climb out jc walter of walter oil and gas corp said the recent improvement in oil prices was not enough for independent producers to begin new onshore drilling projects
kinburn owns 316 pct of the issued and outstanding common shares of shl the company said
illinois regional bancorp said it is evaluating whether to affiliate with a larger bank holding company or continue to remain independent
the us soybean industry believes labels indicating tropical oils are high in saturated fats would discourage consumption of the oils imported primarily from malaysia indonesia and the philippines
soviet union sets 45 pct industrial output growth
synergen inc said it agreed to provide its human elastase inhibitor designed to treat emphysema to ciba geigy ag cigz for human clinical trials
interior grain and soybean prices in the affected counties will now be based solely against the texas gulf
but sellers could not be found at those levels and the bids soon rebounded to the 75 to 85 area he added referring to such issues as texacos 13 pct notes of 1991 the 13 1 4s of 1999 and 13 5 8s of 1994
proposals are on the table for a seventh replenishment of funds totalling 20 billion dlrs for the period 1987 90 plus 29 billion carried over from the sixth replenishment
the maize harvest advanced to between 20 and 22 pct of the total area planted compared to 13 to 15 pct a week ago
iomega said the auditors state in their opinion letter that both actions are in the early stages of discovery and the likely outcome can not be determined at this time
imatron said mitsui the exclusive importer of imatrons ultrafast computed tomography scanners into japan is scheduled to take delivery of its first scanner next month for installation in a large cardiology center
von wartenberg said consumer demand remained quite good but noted there had been a cooling in the investment climate
chemlawn has rejected waste managements 27 dlrs a share bid
m a com inc said its board authorized the repurchase of up to five mln of the companys common shares from time to time in the open market or private transactions
new england electric is the operator of this venture as well as owning 51 pct of the project
qtly div 20 cts vs 20 cts prior pay june 16 record may 22
the canadian bond rating service said it downgraded ratings for long term senior debt and subordinated debentures at royal bank of canada and bank of montreal due partly to loan loss problems
world group net profit fell to 3701 mln marks in the year ended september 1986 from 4724 mln a year earlier on group sales which fell to 4000 billion marks from a previous 4432 billion
the value of the rupiah is set daily against a basket of currencies by the central bank
the september surplus compared with a shortfall of 1697 billion lire in september 1986
the source said tokyo was extremely worried by washingtons use of the exchange rate to change japanese policies
nonrecurring income for year 1987 included pretax gain of 4307180 dlrs on sale of companys leasehold of glen oaks store on dec 16 1986
if approved by shareholders the amalgamation will take effect april 30 husky said
the governments economic planning agency said last week the economy grew at 25 pct in 1986 the worst performance since 1974 when the economy shrank 14 pct due to the first oil price crisis
users also said it is in the strongest financial position in its 24 year history
intense united states and nato efforts bore fruit greece will stay in its national waters said the daily gunes
of last years loans 226 billion dlrs was actually disbursed bringing total disbursements to 2403 billion dlrs
the united nations food and agriculture organization fao said it approved emergency food aid worth more than 143 mln dlrs for drought victims in ethiopia
some 120 billion francs of the loan will be taken up by members of the issuing consortium comprising major commercial banks and the remaining 30 billion by publicly owned credit institutions
that was down from an earlier preliminary 13 pct rise estimated a month ago and down from the 21 pct rise in the fourth quarter of 1985
the area sown with maize this season was between 358 and 378 mln hectares two to seven pct less than the 385 mln hectares in 1985 86
qtly div 15 cts vs 12 cts in prior qtr payable june 25 record may 28
the department said the semolina is for shipment april october 1987 and the bonus awarded was 22487 dlrs per tonne
this annual amortization amount is based on recovery of about 653 mln drls over an 8 1 4 year period beginning april 1 1987
however douglas said the 1987 88 estimate is subject to uncertainties over the results of pre budget spending reviews and tax forecasts and over the effect the program of corporatising certain government departments will have on liquidity
texacos tx debt downgraded to caa by moodys
the two ports cannot in any way and in their present form handle the huge exports of zambian copper one western diplomat said
burnup and sims inc bsim 3rd qtr jan 31 net
the seven nations discussed the debt problems of developing countries and ways to proceed in line with the debt initiative outlined by us treasury secretary james baker 18 months ago
the council of europe is issuing a 125 mln luxembourg franc private placement bond carrying a 7 1 4 pct coupon and priced at par lead manager banque internationale a luxembourg sa bil said
six months ended march 31 1987 share 60p vs 41p diluted interim dividend 14p vs 105p pre tax profit 312 mln stg vs 158 mln net profit 234 mln vs 114 mln sales 347 billion vs 155 billion operating profit 296 mln vs 164 mln interest and other income less central expenses credit 16 mln vs debit six mln companys full name is hanson trust plc hnsnl uk operating profit by sector consumer goods 123 mln stg vs 32 mln building products 31 mln vs 26 mln industrial 14 mln vs same food 20 mln vs nil
xuto said if the key outstanding issues are not resolved by tomorrow he would hold weekend meetings
it said any rating change until then would depend on each individual bank holding company
economic spotlight mitsubishi heavy fights back
hofmeister began selling rubber when prices exceeded the may sell level of 232 cents per kg early last month
multi step products inc earlier reporting an initial six month loss said it agreed to sell wholly owned multi step manufacturing inc for 100000 dlrs cash subject to shareholder and regulatory approval
indonesia hurt by the fall in oil prices last year which cut the value of its crude exports in half is the third worlds sixth largest debtor
coastal cgp sees increase in 1987 profits
soviet sugar consumption up as home brewing grows
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
he conceded that in retrospect it would have been wiser to establish separate programs for the euromarket and the us domestic market rather than try to extend the us issue globally
however the companys convertible bonds had been trading since the companys share price provided a benchmark to which dealers could establish a proper price level
german producer prices fall 03 pct in february
this development was aided by cooperation between the bank and the savings banks in the west german state of north rhine westphalia where parent bank westlb is based
they pointed out that the ford notes were rated a 1 by moodys investors and aa minus by standard and poors while the general electric notes which had the same interest rate terms and were also non callable to maturity carried top flight aaa ratings by both agencies
the exchange of the institutional debt and preferred stock for common equity will cause a resulting dilution of the existing common stock allis chalmers said in a statement
opec wants 18 dlr oil price oapec official
first interstate bancorp said its 1987 pre tax income could be reduced by about 335 mln dlrs if it decides to reclassify its 339 mln dlrs in medium to long term loans to brazil as nonperforming
some factors like less storage space from excess stocks meant we could not buy much at the auction until we disposed of the rubber we already had one buyer said
he did not give details but said it is a very useful alternative and in the end will permit the banks to say that they achieved their pricing target and will likewise permit the philippines to say exactly the same thing quoting negotiation documents to be presented to the countrys 12 bank advisory committee business day said the debt certificates will carry maturities of five or six years
bankers trust co said it has raised its prime lending rate to 7 3 4 pct from 7 1 2 effective immediately
triumph capital inc said it has signed a letter of intent to acquire first securities transfer systems inc of pompano beach fla for undisclosed terms
also the utility will pay accrued interest for the 10 pct series
great american corp sees 1st qtr charge of 141 mln dlrs against loan loss allowance
in adddition geodyne said painewebber investment executives who market the program will be entitled to receive one warrant for every 500 dlrs in subcriptions generated after a four year vesting period
corrected manhattan national mlc 4th qtr loss
arbitragers speculated another overnight messenger service may emerge as a likely bidder for purolator
1985 net loss includes a charge of about 23 mln dlrs from settlement of class action lawsuit
safety kleen corp said it has completed the acquisition of mckesson envirosystems co a unit of mckesson corp mck for an undisclosed amount
the report dated april 7 said the reduction is based on an expected smaller harvest in the center south region
the combination of capital improvement programs and more employee involvement has been paying off throughout our paper operations roberts said
shr loss 37 cts vs loss 13 cts net loss 45 mln vs loss 15 mln revs 633 mln vs 538 mln year shr loss 74 cts vs profit 187 dlr net loss 90 mln vs profit 230 mln revs 2395 mln vs 2443 mln note1986 net includes extraordinary gain of 106 mln dlrs from tax loss carryforward in year and loss of 198000 dlrs in 4th qtr
annual growth in the 12 months to january averaged about 18 pct well below the 28 pct figure recorded in the 12 months ending last june the office said
berger asserted that brazil is doing its own politicking by talking to us regulators and trying to drive a wedge between us and european banks
last year the house approved his idea to force an annual ten pct trade surplus cut by those countries
major nations must act on currencies miyazawa
industry analysts said the future of amcs car assembly plant in kenosha wis and its toledo ohio jeep plant would be in doubt if the overcapacity predicted in the north american auto industry by the early 1990s comes to pass
brazil would not have suspended payments on debt owed to foreign banks if it had received more and faster financing from official lending agencies finance minister dilson funaro said
chock full onuts chf sells convertible debt
uk money market shortage forecast revised up
there will be difficulty in limiting 0 92 to wheat said gene moos aide to house majority leader tom foley d wash
bank of japan bought 200 to 300 mln dlrs this morning dealers said
the european community ec considers talks on agricultural trade reform to be inseperable from talks on other trade reform in the present gatt round willy de clercq external relations commissioner of the ec said
it said american president lines is currently operating at capacity in the pacific and the new ships will arrive in time for the normal demand surge of the spring and summer seasons
he said capital flows will be required to support the needed reforms in the economic systems of those countries
southwest bancorp swb to exchange preferred
american trust had year end assets of over 40 mln dlrs
the fund said its quarterly dividend rate may fluctuate in the future
in addition to the poor distribution of storage units there is the problem that too much of the capacity is geared to storing grain in sacks while not enough is suitable for storing loose grain brito said
raising us trade barriers would result in little or no reduction in the current account deficit
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
in its control application twa had acknowledged that additional documentation was required to meet dot rules and said it would file more material on the morning of march 9
for the full year 1986 foreign official assets grew 334 billion dlrs after a 1985 decrease of 19 billion dlrs as foreign monetary authorities intervened heavily in exchange markets late in the year as the dollar fell commerce said
semi div three cts vs three cts prior pay june 12 record may 15
debt forgiveness is difficult to design in any fair way and also will tend to discourage further investment and development he cited the recent multi billion dollar debt package for mexico the third worlds most indebted country after brazil
under such circumstances the countries agreed their currencies were within ranges broadly consistent with economic fundamentals
shr profit five cts vs loss 23 cts net profit 916000 vs loss 2886000 revs 200 mln vs 282 mln
the study is unfair and unacceptable because it does not take account of various differences in farming conditions in each country such as geography the source said
the federal labour office said the number of workers on short time rose by 80629 to 462802 and the number of vacancies increased by 15263 to 180047
refinery netbacks in singapore were also lower with heavier and sour crudes weakest
mclean said the agreement also calls for crowley to release us lines sa for any damages and unpaid charter hire for three vessels leased to us lines sa by crowley which have been returned to crowley
the commission said its decision follows a complaint from ec non ferrous metals producers that the sales of soviet mercury were harming their business and threatening jobs in the european industry
the dividend is equal to the companys previous semi annual payout
regional shipping sources earlier said three iranian offshore oil sites at sassan rostam and rakhsh had been attacked at 700 am 0300 gmt on monday by unidentified aircraft
the feds intervention was on the morning after president reagans state of the union message and was in a manner consistent with the joint statement made by us treasury secretary james baker and japanese finance minister kiichi miyazawa after their january 21 consultations
commenting on the current row between the ec commission and sugar producers man said despite the recent improvement in the level of restitutions they are still insufficient to fully compensate producers when exporting on the world market
the company also said marketing vice president jerome j
we are in an impossible situation unless we get government relief the company will be bankrupt in three years he told 
the company then reached an agreement with a consortium led by sino land co ltd sinohk to buy a commercial complex that is still under construction for 19 billion dlrs
the proposal only applies to commodities that are sold by exporters on a cost and freight c and f or cost insurance and freight cif basis since these costs would be included in the exporters sale price to the foreign buyer it said
fertility and genetics research baby 1st qtr
yesterday he said venezuela obtained two new credits of 50 mln dlrs each for export financing one from credit du nord of france and the other from britains midland bank
primary dealers in uk government gilts will not be required to underwrite the governments offering of its securities when the first auctions begin in mid may the bank of england said
our foreign debt is high but we can pay and i hope the foreign banking community will maintain its position toward us he said
exports were 2837 billion against 3065 billion and 2440 billion
net proceeds will be used primarily to retire outstanding bank debt chilis said
out of 105 mln acres only 19 mln acres were accepted in corn thats neutral at best and perhaps bearish to what the trade was looking for dale gustafson of drexel burnham lambert said
but he added that if the dollar dropped further there could be inflation in the united states
security pacific corp and users inc a credit union data processing concern said they have mutually agreed to withdraw from further merger negotiations
this is in line with the governments policy to limit our trade surplus with the united states to help reduce trade friction between the two countries said the official
but they now circulate widely among local residents and there is a big black market in the currency though it is theoretically at par with the ordinary chinese currency renminbi
dudley taft taft vice chairman and narragansett capital inc said they sent a letter to the taft board stating they were committed to pursuing acquisition of the broadcast company and were prepared to negotiate a transaction in excess of 150 dlrs per share
brazilian bank workers decide on national strike
several leading farm state congressmen said they will press the us agriculture department to implement some kind of marketing loan to make soybeans exports competitive while protecting farm income
shr loss one ct vs profit 15 cts net loss 10863 vs profit 176344 revs 672073 vs 766066 year shr loss seven cts vs loss one ct net loss 77804 vs loss 16627 revs 1717810 vs 1317402
marion labs mkc votes split dividend hike
some us money center bank stocks fell by about 10 pct in the immediate aftermath of brazils payments halt
goodyear said it will report first quarter results april 27
rain was reported across parts of minnesota iowa eastern kansas missouri and eastern oklahoma with showers and a few thundershowers extending from arkansas through the lower mississippi valley to alabama and northwest florida
kuwait says no plans for emergency opec talks
canada real 4th qtr gdp rose 11 pct after 3rd qtr 11 pct rise official
two small shipping companies have reached a pay deal with striking seamen but union leaders said most of brazils 40000 seamen were still on strike
the shares were placed with about 45 to 50 institutions in europe and the far east
edelman group cuts burlington bur stake
with a 26 billion dlr debt the loss of logging foreign exchange earnings is serious he said
however government officials have ruled out any further tax reduction packages to supplement a major program of stimulatory fiscal measures already underway
the proposed note issuance facility for elders ixl ltd has been reduced to 100 mln australian dlrs from the original 200 mln dlrs lead manager westpac finance asia ltd said
although alaska housing finance will set the interest rates relative to libor for the euronotes merrill lynch noted that it would not seek to issue the notes with a margin in excess of 02125 pct per annum
hammer said his group has been accumulating exovir stock since oct 28 1985 for investment purposes and may buy more shares or sell all or part of his current stake
but in the mortgage sector the margins had increased slightly and stood around 07 pct
greater use was also made of bond auctions to market new issues with terms in the two to five year range
since late last year japanese investors seeking substantial liquidity and attractive yields have used fresh funds to buy mark and canadian dollar bonds and after the paris currency pact actively bought french franc bonds and gilts while gradually lightening us bond inventories the managers said
measures would be necessary to avoid abuse of the banks special position by such holding companies or subsidiaries
farmers receive the initial payment when the grain is delivered to the elevators used by the wheat board
cash distribution 133 cts vs 84 cts prior pay april 29 record april 15
the tehran leadership have been quick to threaten vengeance after the us raids on the rigs one of which was destroyed
yeutter sees gatt consensus on farm trade reform
loan loss provision 138 mln vs 130 mln investment securitiesd gaons 2003000 dlrs vs 169000 dlrs
yen may rise to 140 to the dlr nikkeiren says
novell novl sets two for one stock split
earnest debate on the buffer stock proposal is expected to begin late tomorrow as delegations feel the pressure of the approaching friday deadline when the icco meeting is due to adjourn delegates said
pentair pnta offering under way
the stabilisation zone is kept by the semi government livestock industry promotion corp lipc through a buffer stock operation in the wholesale market
1985 restated
the growers were asked for their reaction to an oil world newsletter report that malaysias oil palm output is likely to drop sharply this year
he estimates phelps will earn 245 dlrs in 1987 and 445 dlrs in 1988 including tax benefits versus 179 dlrs in 1986
citizens book value was about 19 mln dlrs at the end of the third quarter according to the banks counsel guy gibson
he said tax date pressures have been pushing up fed funds lately
it is also a money manager with 35 billion dlrs under management
the buying began when the dollar was at about 14960 yen and helped drive the us currency up to around 150 he said
haggard said at a soybean loan rate of six dlrs per bu combined with a marketing loan the us soybean price might fall to four dlrs per bu initially
soybeans were higher wheat lower and corn mixed on the chicago board of trade
the paper said in 1985 a farmer could earn up to three times more per hectare from pineapple and watermelon and up to seven times more from bananas than from sugarcane
italys barley crop is generally in good condition and harvesting is expected to begin shortly the agricultural marketing information and research board irvam said
united tech utx sees no earnings impact
he said the company hopes to make the first drawings in may to take advantage of lower borrowing costs and the greater flexibility afforded by this program
scs compute inc scom 3rd qtr jan 31 loss
extraordinaries comprise exchange losses 1029 mln provision for goldendale smelter closure costs 273 mln and increase in future tax provision 103 mln
maturities on another 86 billion dlrs of loans granted in 1983 and 1984 will remain the same
american brands failed late last year in its 29 billion dlrs bid for chesebrough ponds inc when unilever nv agreed to buy the company
colonial bancgroup said it agreed to buy first national bank of destin for an undisclosed sum
a supreme court spokesman said oconnor granted a stay of the injuction allowing the merger worth nearly 860 mln dlrs to go through as planned later today
they will come in denominations of 10 mln crowns without commission to the bank
us feed situation summary report delayed
the agreement was signed by nigerian finance minister chu okongwu and the export credits guarantee departments ecgd chief executive jack gill
he noted viacom has exclusive agreements with two studios and plans to sign a deal with a third company next month
us crude oil prices rose above 18 dlrs a barrel this week and industry analysts said the price could rise another dollar as inventories fall
emery air frieght corp which has launched a 40 dlr a share tender offer for 83 pct of purolator courier corp said it would sell some purolator assets to help pay the estimated 265 mln dlr cost of the stock purchase deal
the company said it had been able to cut its losses because its scaled down copper operations in the central island of cebu started in the second half of 1986
proceeds estimated at 486 mln dlrs will be used to repay about 254 mln dlrs of bank debt with the remainder added to working capital continental said
funaro rejects uk suggestion of imf brazil plan
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
the shift in us strategy in part designed to appease mounting congressional anger over japanese policies comes just two weeks before industrial nations reconvene here to review the paris agreement to stabilize currencies
the countrys gdp which contracted by 06 pct last year should again show growth over the next two years rising by 025 pct this year and a more substantial 275 pct in 1988
doumeng last month said the agreement was to exchange one billion dollars worth of goods
saudi arabia has lifted the condition it imposed on the sale of oil to brazil and will accept banco do brasils credit guarantees state oil company petrobras said in a statement
jim walter corp jwc 2nd qtr feb 28 net
denmark is issuing a 200 mln ecu eurobond due april 23 1992 paying 7 1 4 pct and priced at 101 3 8 pct lead manager morgan stanley international said
rugeroni added that alcan expects the international primary aluminum institute to report a drop in total non socialist stocks in february and march
ecuador will use a new pipeline link with colombia to export crude oil for the next five years colombian mines and energy minister guillermo perry said
the treasury had set an upper limit on the issue of 12 billion francs and was likely to continue to try and sell as much paper as it could over coming months to meet its borrowing needs for this year of around 150 billion one banker said
it is a package of trade sanctions and measures to force the administration take tough action against foreign trade barriers and unfair competition
talking point purolator courier corp pcc 
increased activity by switzerlands banks pushed net capital exports to a provisional 117 billion francs last year from 100 billion in 1985 the national bank said in a pre publication copy of its annual report
an initiative from iaco is likely very soon he said without elaborating
mesa limited partnership mlp sets payout
malaba is now handling only 10 pct of the trade and all the coffee and oil goes through kisumu he said
greece and turkeys nato allies today called on both countries to avoid any action that could aggravate an explosive situation in the aegean and avoid recourse to force at all costs after an emergency meeting of nato ambassadors a statement was issued saying the present situation damages the interests of greece and turkey and of the alliance as a whole secretary general lord carrington also offered himself as a mediator in the dispute on the western alliances southern flank
the bond will be issued in denominations of 1000 and 10000 marks
over the next two to three years a very interesting marketing battle will be fought competition will not be on price but on product features pei yuan chia head of the us card products group told a banking analysts meeting
dart said it was advised that a selling brochure for the sale of sgl had been distributed to about 20 potential buyers but not itself
audio video affiliates inc said it has filed suit against dixons group plc cyclops corp alleghany corp y and others in connection with dixons recently completed tender offer in which it raised its ownership of cyclops to 56 pct
the agreement with troon requires troon to advance 65 mln dlrs partially secured by a first mortgage lien on the companys interest in its natural gas pipeline partnership and troon to tender 100000 principal amount of debentures to chapman
they said they expect more foreign crudes to be sucked into the us market as the benchmark crude west texas intermediate wti trades at around 2030 dlrs
the company said it expects to save 13 mln dlrs a year through the dividend suspension
rising profit from europe this year was forecast by chairman kenneth dixon in a statement
maturities will be between seven days and five years and paper will be issued in denominations of 250000 500000 and one mln stg
share bid made last wednesday by union pacific corp unp analysts said
super rite foods inc srfio 1st qtr may 30
529 mln dividend 105 francs per 250 francs nominal share vs
s and p projected the market would grow to 100 billion dlrs in the next five years
the current rate is 12850 marks per australian dlr
qtly div five cts vs five cts prior pay june 15 record may 18
he said that under the present schedule debt payments had slowed economic development and exhausted currency reserves
one japanese trader said domestic demand is rising rapidly because of improving living standards and rising demand for sweet drinks cakes and biscuits and other sugary foods
news corp ltds fox television stations inc subsidiary said it will pay an accrued dividend of 544 dlrs per share not the 583 dlrs it reported earlier in connection with the april 15 redemption of 230000 shares of increasing rate exchangeable guaranteed preferred stock for 1000 dlrs per share plus accrued dividends
but the commission said imposing the ban would encourage the use of unleaded fuel as well as making it easier for gas stations by cutting the number of types of gasoline they had to stock
given likely fed policy firming he said both the yield on 30 year treasury bonds about 830 pct now and the prime rate may be at 8 1 2 pct at end june and nine pct by years end
he added that without these external difficulties west germanys economy would have grown by 35 pct last year instead of the 25 pct reported
allis chalmers ah sells swiss unit
the holdings of the two precious metals and the hard currencies were valued at 2172 billion dlrs on may 22 1987 he said
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
he did not specify the value of the overdue payments
shr 69 cts vs 64 cts net 7046000 vs 6492000 sales 857 mln vs 796 mln six mths shr 128 dlrs vs 119 dlrs net 13098000 vs 12006000 sales 1663 mln vs 1533 mln note periods end january 31 1987 and 1986 respectively
hutton revised its 1987 earnings estimate for the waste management concern to 140 dlrs a share from 120 dlrs on the announcment he said
the payment date is april 8 and there will be a long first coupon period
grain ships waiting at new orleans
trade figures show that the new currency alignments are already changing the japan us trade axis into a japan european community ec axis to the discomfort of europe
besides the bass group another major taft shareholder cincinnati ohio financier carl lindner has also said he has had talks about increasing his stake in the company taking part in a takeover effort or launching one himself
the settlement is contingent on court approval after notice to class members it said
the icco will discuss withholding scheme rules at an executive committee meeting on june 9 12 icco officials said
phillips p to emphasize cash flow to pare debt
bankamerica will provide 592 mln dlrs
it said the june one election date has been extended to june 15 and the june 30 closing date has been changed to july 31
the taiwan dollar has strengthened by some 16 pct against the us unit since september 1985 and some bankers and economists said it could appreciate to 32 to the us dollar by the end of the year from 3423 today yao said
apt vice president wim huisman told a news conference a capital increase was envisaged if sat apt wins cgct but declined to give details or say how an increase would affect foreign stakes in cgct
the official said it was encouraging that japan had agreed not to reduce ore imports from india although japans total iron ore imports would be lower in the coming year because of the recession in the japanese steel industry
the company said the flat results will be due to higher than normal expenditures during the fourth quarter for expansion of its data processing capabilities
no soviet wheat bonus talk planned for meeting
frn dealers said at least 10 houses did not open for business with many market operators pausing to assess their next steps in the wake of fridays huge drops and panic trading
moodys affirmed eastern airs b 3 senior secured debt and caa subordinated debt and junior preferred stock
indonesian airliner crash kills 27 people
a total 60500 tonnes of current series white sugar received export rebates of a maximum 43147 european currency units ecus per 100 kilos at todays european community ec tender the uk intervention board said
he said negotiations with the steering committee for the countrys creditor banks in new york would not end next week
ecuadors initial proposal earlier this year was to make only one semi annual or one annual interest payment this year
resorts said the offer from ksz calls for a merger of resorts with ri acquisition co inc a newly formed delaware corporation
kidder peabody and co inc has been retained to advise on the alternatives harper and row added
shr 70 cts vs 67 cts net 6416000 vs 6057000 note net includes pretax securities sales gains of 5900000 dlrs vs 5900000 dlrs
trading in the companys stock was halted pending an announcement
thailands foreign reserves of gold special drawing rights and convertible currencies fell to 386 billion dlrs at end february from 395 billion the previous month but were above the 308 billion held at the same time last year the bank of thailand said
he said the companys backlog of sales deposits on feb 28 was 2416 an increase of 976 units over the previous year
later hilton plans to use borrowings from traditional sources he added
honeywell chairman and chief executive officer edson spencer said the move is the last major step in honeywells restructuring
refined copper stocks held by refineries outside the us increased to a preliminary 277500 short tons at the end of december from a preliminary 270000 short tons revised higher at the end of november the american bureau of metal statistics said
at completion of this transaction northwest federal would be a subsidiary of lsbs non consolidated wholly owned financial subsidiary
the australian oil industry has the experience and the capacity to serve the nation and its shareholders well if the government would stop putting roadblocks in our way he said
swire pacific ltd swpchkg is likely to show a more than 20 pct rise in 1986 operating profits when it reports results tomorrow reflecting gains in its aviation and property businesses share analysts said
it said it hopes that buckhorns board will reevaluate its position and enter into meaningful negotiations
analysts said the yen also gained as traders unwound long sterling short mark positions established lately
toledo seaforth 17000 mt hss offers 1850 dlrs four days 8000 13 15 4
shr 46 cts vs 77 cts qtly div six cts vs six cts prior net 2198469 vs 3635565 revs 231 mln vs 260 mln note 1986 net includes one time charge of 249000 dlrs or five cts a share from discontinuation of boat sentry and lakontek products
it said it now controlled 98 pct of hillards shares comprising acceptances of the offer for 15 mln or 31 pct and 32 mln or 67 pct owned by itself its pension fund or its associates
qtr ends march one shr profit 10 cts vs loss 220 cts net profit 687000 vs loss 145 mln revs 683 mln vs 548 mln avg shrs 7018000 vs 6577000 six mths shr profit 38 cts vs loss 195 net profit 2596000 vs loss 128 mln revs 1299 mln vs 1133 mln avg shrs 6964000 vs 6568000 note figures for qtr and year prior include pre tax restructuring charge of 225 mln
but nick toufexis of prudential bache securities inc says newmont mining is a more attractive investment
the three oilfields have been raided several times in the past three years
us banks to get approval for securities business
iraq reports attacks on supertanker oil targets
argentina says could follow brazilian debt move
myra falls 1986 production was 44000 ounces of gold 966266 ounces of silver 455 mln pounds of copper 962 mln pounds of zinc and 777000 pounds of lead a company spokesman said
egypt wants to settle the debt problem partly to open the door for new cooperation mainly in modernising soviet built steel aluminium and fertiliser plants under a five year development plan ending june 30 1992
mathew rinaldo the senior subcommittee republican said he was introducing legislation to create a five member commission to study the securities industry for a year and report its findings and recommendations to congress
the program now has annual commercial sales of about one billion dlrs and holds 50 pct of the free world market for enrichment services
finance minister barend du plessis told a new conference that 34 banks holding more than 70 pct of the frozen debt agreed to the new arrangement worked out with south african negotiators in london
the week was the second half of a two week statement period
it said 30 pct of that loan was guaranteed by the government of alberta
in this case the bond issued in denominations of 5000 marks will be valued at a fixed price of 4200 swiss francs or 11905 francs per 100 marks
as of dec 31 1986 colonia bancorp had assets of 150 mln dlrs dauphin said
the current trade imbalance between the united states and the soviet union high us commodity prices and increased world grain production make a renewal of the supply agreement next year less certain albert melnikov deputy trade representative of the soviet union said in an interview
but the walls between the two are crumbling and komatsu said he hopes further deregulation will create new opportunities
this is a battle the industry cannot afford to lose if the nation is to continue to benefit from alaskan oil dibona said
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
pillsbury co psy 3rd qtr feb 28 net
on the local market the metal traded in a narrow range of 3800 and 3805 hk dlrs a tael against yesterdays 3778 close
bayou has 827000 shares out
continentals stock closed at seven in over the counter trading
1985 net includes charge 504571 dlrs from cumulative effect of accounting change
petroleum equipment tools co ptco 4th qtr
in a communique the eln said it would demand a tax of one dollar per barrel of crude oil pumped by foreign firms as a condition for maintaining its suspension of the assaults
us trade representative clayton yeutter said the united states and argentina have settled a case brought by the us soybean crushing industry alleging unfair subsidies to argentinas crushing industry
1985 fl yr net includes gain of 101 mln dlrs
oil traders said threats to oil supplies has kept crude oil prices strong recently although some believe prices will be weaker if demand falls in the spring
growth was generated mainly by the manufacturing sector it added
hj heinz hnzn chairman tony oreilly would be interested in buying guinness plc guinl s brewery division if it were for sale a spokesman said
kuwaiti daily says opec credibility at stake
united medical um to sell unit
terms of the acquisition were not disclosed
rpt us says tin disposals will not affect accord
because the proposal provides that future quota distribution must reflect current demand and actual supply it should also prevent under shipment of quota as countries doing so would automatically prejudice their following years quota
sumitomo trust and banking co ltd has agreed to provide the letter of credit
the campaign to persuade farmers to grow legal crops instead of coca would be financed instead using local currency nogales said
no meetings are scheduled and none have been planned between the utility its creditors and the aluminum plant owners
the central bank bought bank bills comprising 27 mln stg in band one at 9 7 8 pct 21 mln stg in band two at 9 13 16 pct and 171 mln stg in band three at 9 3 4 pct
at present it can only issue coins of 500 yen or less
british telecom third quarter pre tax profit 506 mln stg vs 452 mln
shr 12 cts vs eight cts net 102002 vs 59396 sales 3024423 vs 2437489 avg shrs 1032000 vs 746004 year shr 64 cts vs 45 cts net 570491 vs 340852 sales 111 mln vs 106 mln avg shrs 1032000 vs 753948
the department said if deliveries of us wheat to senegal remain on track the us could dominate a wheat market that had been expected to import 140000 tonnes of mostly french wheat during the 1987 88 july june season
paradise fruit co inc said its board declared a dividend of 25 cts per share payable march 31 to holders of record march 19
although the saudi arabian monetary agency sama has been tightening supervision there is still no standardised rule for declaring loans as non performing
the dutch guilder issue will be led by rabobank nederland
more
the underlying rate of inflation was now two pct not the reported negative inflation rates last year and west germany was affected more than before by exchange rate developments
the conversion price was set at 177 1 2 pence representing a premium of 1199 pct over yesterdays closing price of smith and nephew shares of 158 1 2 pence
this delicate question was not resolved at yesterdays meeting but lawyers from both sides will try to draft suitable language for a telex by midweek gros and the bankers said
the decline mainly reflected a sharp drop in movements out of the mideast gulf which totalled 74 mln tons last month against 1165 mln in january
bonn confident of maintaining currency stability
phelps dodge pd sees stronger copper prices
the rights will be exercisable only if a person or group acquires 20 pct or more of rogers shares or announces an offer for 30 pct or more
we could do a large acquisition he said when asked if the company could raise as much as one billion dlrs for this purpose
japan is expected to send a high level official to washington early next month to try to convince the us not to go ahead with the tariffs on april 17
the division is expected to improve results for anacomp this year
he said in a letter to congressmen that unless the program now run by the energy department is improved sales worth five billion dlrs could be lost between 1990 and 2000
taiwans maize import commitments are expected to rise to 970000 tonnes in the first four months of 1987 from 870000 tonnes a year earlier a spokesman for the joint committee of maize importers told 
pancanadian 87 pct owned by canadian pacific ltd cp said it would receive 17 mln british pounds cash 35 mln canadian dlrs at closing expected in two to three months
union votes to strike dakota city ibp plant
the 1987 88 beef and pork price stabilisation zone will be set by the end of march after an advisory panel to the agriculture ministry recommends the price zone at a meeting on march 25 ministry officials said
the federation in letters to congressmen proposed that a nine member commission be set up to study all aspects of the issue and report back to congress in about two years
stanley also said that 1987 full year sales will be in excess of 18 billion dlrs as compared to the 15 billion dlrs reported in 1986
in addition the bank has proposed limits on the amount of credit risk that firms can take on with each new issue they lead manage
henley heng has santa fe southern sfx stake
a company spokeswoman said the four dlr per share gain will be included in second quarter net which compares with 31 cts per share last year including the spirits and wine business they netted over 700 mln dlrs for spirits and wine
he also told the waiver allowed washington to impose quotas on imports of farm products where it had domestic support programs
trade minister rha woong bae told the us chamber of commerce earlier this month a sudden won revaluation could result in south korea running a large trade deficit and being forced to renege on its international debt repayments
brown transport btci sees record 1987 net
provisional consolidated profits were lower at 185 mln francs compared with 200 mln in 1985 of which 120 mln against 147 mln was attributable to the group
he said the impact of that boost will start to be felt in the early part of the companys second quarter and continue throughout the year
stanadyne stna united technologies end talks
last year it was one billion dlrs against a targeted 16 billion official figures show
an asa spokesman said the association plans no survey of farmers planting intentions this year
sigma said it changed its 1986 reserve reporting method following dome mines previously reported move to adopt general industry practice of reporting proven and probable ore reserves
talks on similar projects have been held with other japanese firms including mitsubishi heavy industries co ltd mitht and ishikawajima harima heavy industries co ltd jimat he said
its disappointing to spend so much time on these negotiations and have them fail said fcs chairman nicholas gallo iii
giant food gfs a records 104 pct sales hike
europe 31 31 nil nil japan 4458 4841 723 701 taiwan 3779 3904 416 395 other asia and oceania 7417 7834 2445 2411 africa 167 134 nil nil western hemisphere 996 695 32 27
he said the dollar staged a precipitous drop as a new statement period began today on disappointment yesterdays washington meetings of international monetary officials failed to produce anything that would offer substantive dollar aid
norway is issuing a 60 billion yen eurobond due april 22 1992 paying 4 1 4 pct and priced at 101 5 8 pct lead manager nomura international ltd said
the pioneer sugar investment would make csr by far the largest player in australias 850 mln dlr a year sugar industry and would give it access to some of the best sugar properties and mills in the country analysts said
in the year ago first quarter the company earned 231 mln dlrs or 75 cts a share
k mart said 1985 was restated to account for discontinued operations
the bank said the estimate could rise to between 130 dlrs and 180 dlrs a share if the full pension surplus is obtained
evaluation of test results and preliminary engineering work should put petro canada in a position to propose a development plan for the terra nova field in 1988 the company said
iranian premier mir hossein mousavi reiterated his country would retaliate for us navy attacks on gulf oil platforms
indonesian debt service ratio peaks minister says
that would not be wise he said
the second figure which would always be lower by deducting freight and insurance presents the deficit in a more favorable light for the reagan administration
kelly oil and gas partners kly year dec 31
it said the blanks will be manufactured in greenville tenn
given normal weather conditions this year usda analysts said the 1987 corn crop could end up around seven billion bushels down from last years crop of 83 billion bushels
one dealer said he had the feeling japanese companies had been asked by the bank of japan not to sell dollars at this point but some while sticking to the letter of that request were offering dollars forward today rather than lose out if the dollar fell further
i feel that we shall probably have to deal with quite a few more crises in the foreseeable future not only is the us congress clearly very determined to get the american balance of payments into better shape but the risks of brinkmanship are all the greater because the ec has its own constraints in meeting outside pressure engering noted
an eventual issue of bonds convertible into fiat shares is not our responsibility the spokesman told 
the international cocoa organization icco council agreed standard price differentials for different origin cocoas to form part of the buffer stock buying and selling procedure consumer delegates said
latin coffee producers seek ico price support
roses stores inc rsto reports higher sales
fidelcor ficr unit acquires lazere financial
but the venture has no firm estimate on the costs of extracting the gold and no assurances can be given that the reserves can be mined profitably the company said
it is diverting to jacksonville florida with its cargo of 58000 tons of coal
citgo petroleum corp a subsidiary of southland corp said it raised the contract price it will pay for all grades of crude oil by 50 cts a barrel effective oct 16 the increase brings citgos postings for the west texas intermediate and west texas sour grades to 1900 dlrs barrel while light louisiana sweet is now priced at 1935 dlrs
caesars world currently carries bb senior debt and b plus subordinated debt
royal resources rrco sets vote on sale
travelers real estate trato 3rd qtr net
another tokyo trader was less bullish for sure there will be some shortage but it depends on how much they opec members cheat a singapore trade source said there is enough cheating and leakage in the opec sales system to convince traders there is no need to worry about shortages other traders said the questionable iraqi production level after iraqs rejection of its assigned quota was a bearish factor to be considered
january business inventories rose 09 pct the largest gain since july 1979 when inventories rose 17 pct the commerce department said
the purchase authorizations cover the entire quantity provided under the agreement signed march 11
we cant afford to let them go up
stoltenberg not surprised by dollar reaction
central banking system inc csyso 3rd qtr net
shr 411 dlrs vs 351 dlrs net 2091000 vs 1785000 sales 388 mln vs 343 mln year shr 342 dlrs vs 357 dlrs net 1740000 vs 1815000 sales 1130 mln vs 1041 mln qtly div 25 cts vs 25 cts previously pay april 30 record april 15
dealers said life insurance firms were not major sellers of dollars in recent trading sessions because they had already sold them to hedge risks
fed says it sets two billion dlrs of customer repurchase agreements
laidlaw ldmfa splits stock hikes payout
the us last year had major deficits with three of its asian trading partners south korea 71 billion dlrs hong kong 64 billion and china 21 billion
israeli inflation rate is 10 pct in february
they like our beef and want to buy more he said
due to the provision it said its revised 1986 net income was 3167 mln dlrs or 213 dlrs per share after deducting for preferred stock dividend requirements which were not paid in either 1986 or 1985
corby distilleries ltd said it has agreed to buy toronto based mcguinness distillers ltd from heublein inc for about 45 mln dlrs in a move which corby expects to add significantly to domestic earnings
he said shipments of 35000 to 50000 tonnes of low specific gravity barley were also expected this month and added that greece the netherlands ireland and belgium were considering imports of spanish flour for milling
five is now 535 cents a lb the company said
financial santa barbara fsb to make purchase
a preliminary duty of 854 pct was set last oct
the london grain futures market has also discussed merging with the other markets
security pacific provident national lift prime
central statistical board data published in the weekly ekonomicheskaya gazeta yesterday showed that industrial output was only up 08 pct in the first two months of 1987 over the same period of last year
the agreement which covers about 95 mln dlrs in short term debt had been scheduled to expire february 28
the tariff cuts of between five and 30 pct will take effect on july 1
the overall balance showed a surplus of 48 billion after 26 billion in 1985
heavy buying by speculators boosted conrac corp 7 7 8 to 29 higher than a 25 dlr per share cash tender offer announced by mark iv industries inc iv its a case of chemlawn euphoria said one arbitrageur referring to a recent hostile tender that began at 27 dlrs per share and ended when chemlawn corp chem found a white knight willing to bid 3650 dlrs
its a reflection of what has happened in manufacturing industries said brian waterhouse at james capel and co
cpc international to sell stakes in asian units for 340 mln dlrs to ajinomoto
the central banks averaged out day to day call money rate the reference rate for interbank money market operators which reached 8 3 4 pct on february 18 has fallen to 7 3 4 pct this week dealers noted
diplomats said spain and portugal have been angered by the scheme which they feel forces them to pay for massive surpluses built up before they joined the community last year but the two countries did not block todays vote
beryl sprinkel chairman of the council of economic advisers reiterated the reagan administrations opposition to a tax increase and its pledge to reduce the deficit by cutting spending and fostering economic growth
the suit also sought to have directors carry out their fiduciary duty
the deal would also have given fujitsu 14 additional microchip production facilities worldwide eight of them in the us a report by the capel firm said
dutch chemical group akzo nv akzoas said it agreed to take over household product subsidiaries of french group rhone poulenc rhonpa for an undisclosed sum
franklin pennsylvania investors us government securities fund fund said its board declared an initial monthly dividend of 78 cts per share payable april 30 to holders of record april 15
fees total two pct with 1 3 8 points for selling and 5 8 for management and underwriting combined
mr judges objective in this investment is to make his corporations management expertise available to san miguel so that the companys assets can be fully utilised san miguel the countrys largest brewer is also one of the major manufacturers of grocery lines
the company said the reverse split will reduce the its outstanding shares to about six mln from 60 mln
fhs administers and markets multiple office dental practices in the dallas metropolitan area as well as dental offices in the dallas metroplex
cna income shares cnn files for note offering
the cso set the expenditure index at 1129 from 1116 in the third quarter of 1986 and 1098 in the final 1985 quarter
computerland corp said an investor group led by the financial services firm em warburg pincus and co inc has agreed to acquire computerlands business
us trade representative clayton yeutter called us japan relations on certain key trade issues very strained
attempts last week to win a compromise on both the bond issue and the larger dispute failed james kinnear texacos president and chief executive officer told reporters
us official sees evidence of export growth
beneficial corp rating lowered by standard and poors affects 37 billion dlrs of debt
qtly div five cts vs five cts prior payable april three reocrd march 20
it is located 30 kms east of the adelaide river at mt
indonesia is expanding palm oil output and saleh did not explain why there might be a shortage during ramadan
gulf barge freight rates firmed again on the outlook for steady vessel loadings at the gulf increasing the demand for barges to supply those ships dealers said
chris craft industies inc said it declared a regular two pct stock dividend on both its common stock and class b common stock which is equal the two pct stock dividends the company paid for the prior quarter
general refractories grx to sell operations
that subsidiary now holds the groups 80 pct stake in cable and wireless hong kong and about 22 pct of hk telephone
for the week as a whole he said that float related as of adjustments were small adding that they fell to a negative 750 mln dlrs on tuesday due to a number of corrections for unrelated cash letter errors in six districts around the country
he was echoed by mexicos deputy planning minister pedro aspe armella who said the delay in signing his countrys loan has made it difficult to map economic policy with any certainty
chemlawn previously rejected a 27 dlr a share offer from waste management inc wmx yesterday the oak brook ill based waste disposal company said it was prepared to offer 33 dlrs a share or about 330 mln dlrs for chemlawn a lawn care company
the ministers proposals back up our determination to organise union action in the coming weeks he told reporters adding that this could also act in guillaumes favour on a ministerial level
this buoyancy is generally attributed by traders to the low level of lme stocks and steady if unspectacular physical demand in the northern hemisphere finding supplies curtailed
the situation at these ports was as follows giving the number of ships loading awaiting berth and expected respectively
the index showed a 04 pct drop in january
reached later a bankamerica spokesman said the company would record a pretax gain of 45 mln dlrs from the transactions
consolidated net earnings for the two months ended feb 28 1987 amounted to 239 mln dlrs compared to 154 mln dlrs for the comparable period a year earlier it said
the consensus view was to proceed as fast as we can on a broad front and see what areas emerge where we can get early conclusion she said
the magazine said china aims to keep 80 pct of national farmland under grain 10 pct under cash crops and 10 pct under other crops although the ratio will vary from place to place
stgobain unit issues ecu bond with gold warrants
it said the new areas of weakness are west germany and the smaller european countries it influences and japan hardest hit by currency appreciation this year
listing is in luxembourg
since then the pound has risen to 718 pct on its closing trade weighted index up from 697 pct imediately after the paris meeting and up 04 on the day
note extraordinary debit reflected full provision for discontinuing the financial timess printing operations at bracken house in 1988 partly offset by gains on disposals
the international community cannot fail to respond positively to the collapse of the international market for commodities and act quickly to stabilize demand and prices of our commodity exports he added
includes gains of 988000 dlrs vs one mln dlrs in qtr and 22 mln dlrs vs 11 mln dlrs in year from tax loss carryforwards
grain analysts surveyed by the american soybean association asa projected acreage this year at 591 mln acres of soybeans and 647 mln acres of corn
bundesbank adds money market liquidity
if it did not match the offer balaclava could accept the competing bid
the company said it believes it can meet conditions imposed by the nasd for the exception but there can be no assurance that it will do so
the uncertainty as to the price and conditions that might be imposed by the department of justice makes us very nervous about what the outcome might be kistler said in explaining why hughes had made the counter proposal
usda estimates 1986 87 orange juice yield at 150 gals per box from florida crop
oneok inc oke in payout
and business risk will be greater because of stricter government procurement practices
reagan calls for vigilance on certain exports
if there had been no intervention you would have called that a sign of weakness although intervention could be a cause of inflation lawson said the world does not appear to be in an inflationary mode but one has to be vigilant he said yesterdays g 7 statement which affirmed that current levels of exchange rates were appropriate had been carefully worded we know what we mean and we all mean the same thing he said
nogales said bolivia will make a single offer to buy back its commercial debt and banks who accepted would be paid the discounted rate in full
the 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
i can only emphasize that our role there is deterrent that were going to be assuring safety for american shipping and that that shipping is not related to the war itself state department spokesman charles redman told reporters
lennox will retire march 31
net proceeds from the sale will be used to refund obligations under the companys belle river project financing and to refund or replace funds utilized by the company for the purpose of meeting debt and equity obligations
the report prepared before british petroleum co plc bp disclosed plans to seek the rest of standards stock put 1987 capital spending at 16 billion dlrs down from the 17 billion dlrs projected in january
france approves waterman acquisition by gillette
in a separate announcement wells fargo said the acquisition will increase the amount of personal trust assets it administers to 25 billion dlrs
the new measures they said are designed to reduce the subsidy given to overseas lending through the tax system and bring the uk system more into line with those of overseas competitors
citing aggressive capital structures acquisitions and cash flow coverages of interest expense of between 10 and 15 times s and p noted that the companies are more debt intensive now than in their building phase
analyst theodore semegran of shearson said he raised his earnings estimates for the company to 725 dlrs a share in 1987 and eight dlrs a share in 1988
companies also rated their export possibilities higher
saudi arabia is in the market for 4000 tonnes of refined bleached deodorised palm olein for june 1 10 shipment traders said
i am convinced the market is going to reverse by april he told a news conference here at his return from the failed london talks
but unlike a similar action in september 1986 which investment bankers said disrupted the financing the agencys rate reduction had no effect this time traders said
in addition he said the company has been gradually adjusting its merchandise mix and its gross margins have been improving
beebas will be the principal source of merchandise to the shops it said
william reynolds chairman and chief executive of gencorp inc told shareholders he expects to announce a company alternative to a 100 dlr per share hostile tender within a week
resource said gas produced from the property will be transported through its existing pipeline
but there was speculation that it may have been done in conjunction with the bank of japan
i dont think he can last four years marshall goldman of harvard university told a congressional hearing
arbitragers said the stock is a risky buy at current levels unless an offer was accepted in the 170 dlr per share range
financial santa barbara fsb unit offers notes
shr 146 dlrs vs 66 cts net 1514312 vs 714670 sales 621 mln vs 572 mln
trade minister mike moore told his colleagues at a welcoming ceremony before two days of talks here that great progress had been made in preparing for the negotiations which must not be sidetracked
pell calls for transportation bonds
japanese firms see overseas acquisitions as a way to avoid the gloomy growth outlook and put their excess cash to work
analysts and businessmen said the prospects of instability were worrying but they felt the foundations for continued growth had not been badly shaken
marine midland banks inc mm 1st qtr net
canada japan trading firm agree to boost ties
vms mortgage lp vmlpz monthly cash payout
as previously announced general cinema will own 60 pct of the equity and 40 pct of the voting shares in the new company
saudi arabia wants oil price stability so the stockpile may be utilized to cool down the market if it rises too much an oil industry analyst said
usx x unit to raise most crude postings
these include oil cakes cereals raw cotton raw and semi processed leather gems castor and sandalwood oil psyllium husks and seeds opium and various mineral ores
the coupon on the 100 mln dlr 15 year convertible eurobond for the bank of tokyo ltd has been cut to 1 3 4 pct from the two pct initially indicated lead manager bank of tokyo international ltd said
banks also face a heavy but temporary drain this month from a major tax deadline for customers
embassies received letters over the weekend outlining aid needed for a sixth of sri lankas population in 13 districts
japan says us japan microchip pact working
a department spokesman said the sharp fall in february reflected some compensation for the flat figure in january and continued the downward trend seen in the past six months
all bids for wheat were rejected
moodys investors service inc said it is reviewing for posible downgrade the debt ratings of wr grace and co because of concern the companys earnings may not be high enough to provide meaningful improvement in its currently thin margins of interest coverage for some time
gary chapmann a cash livestock trader for chapmann and graham in sioux city iowa said he believed the general trend is to lighter weight placements but pasture conditions in his area benefited from a dry mild winter
gmac unit issues 50 mln australian dlr bond
phillips van heusen corp pvh 1st qtr
even if the immediate crisis is resolved the problem is not expected to disappear permanently
generale occidentale sa subsidiary
mark iv which first disclosed its stake and interest in baird on march 10 has reported it holds 391800 baird common shares or 176 pct of the total outstanding
weyerhaeuser co is offering 200 mln dlrs of convertible exchangeable preferred stock at 50 dlrs a share said morgan stanley and co underwriter
the arkansas senator said the marketing loan which in effect allows producers to pay back their crop loans at the world price had led to a 300 pct increase in us cotton exports in 14 months and a 72 pct increase in rice exports
the company said it orginially sought to include these costs in its pga since the payments to products resulted in almost five billion dlrs in prospective price relief and were not related to take or pay buyout costs
administration officials including commerce secretary malcolm baldrige and defense secretary caspar weinberger feared that the sale to fujitsu would lead to japanese control of key semiconductor technology for supercomputers and military weapons systems
car sales fell four pct to 25269 units from 26414 in the comparable half year the report said
uk money market deficit forecast at 800 mln stg
a unit of inspectorate international ag inszz is raising 200 mln marks through an equity warrant eurobond package with a two pct coupon priced at par lead manager schweizerische bankverein deutschland ag said
the redeemable notes priced at 101 7 8 pct is being offered through bank of tokyo international ltd daiwa europe ltd nomura international ltd credit suisse first boston ltd morgan stanley international and 19 other institutions
macgregor sporting goods inc mgs 2nd qtr jan 31
merrill lynch said it has been cooperating with a securities and exchange commission investigation of the matter for several months
the components group manufactures pumps bearings and other industrial components as well as nuclear control drive rod mechanisms and valves
bids close mid morning local time on monday
canada lease financing ltd 3rd qtr dec 31 net
proposed offerings recently filed with the sec
the paper said the profit margin of mills in china fell to 47 pct last year from 1187 pct in 1980
todd tod debt may be downgraded by moodys
aquino said earlier this month that all the 24 billion pesos the government hopes to raise from the sale of the failed companies will be used to finance the land reform plan
the ministers said they were very disturbed by the us moves adding the adoption of such measures would not fail to have a negative effect on the process of multilateral negotiations just started as well as on bilateral relations any unilateral us moves would leave the ec no option but to react according to the laws of the world trade body the general agreement on tariffs and trade gatt they said
a us agriculture department official said 0 92 for all 1987 crops would save 300 to 400 mln dlrs and more than 15 billion dlrs over five years
feldstein said the task force which also included koei narusawa economic adviser to the president of the bank of toyko and paul krugman professor of economics at the massachusetts institute of technology did not agree on how much credit would be needed
dealers noted that under the chapter 11 filing noteholders will receive no interest payments
american cyanamid co acy 3rd qtr net
yeutter says us japan trade difficulties remain
the stockpile now contains around 10 billion dlrs of materials
secured bonds of mortgage shipping and public authority banks would be an exception to this via such securities as mortgage and municipal bonds
there were three grain ships loading and two ships were waiting to load at portland according to the portland merchants exchange
analysts however said supermarkets general is facing problems due to its purity supreme and rickels operations which might make it difficult to thwart a bid
lf rothschild unterberg towbin analyst frederic cohen estimated tandems second quarter net at 40 to 45 cts per share
european sugar output on the basis of three year average yields will be over half a mln tonnes white value down on last year although yields do vary widely from year to year broker c czarnikow said in its market review
net profit 571 mln dlrs vs loss 691 mln
the yield on 91 day bankers security deposit accounts issued this week by the saudi arabian monetary agency sama fell to 618376 pct from 634322 a week ago bankers said
petrobras said the saudis will accept banco do brasil credit guarantees
france fund inc frn sets initial dividend
donaldson co inc said it reached an agreement to buy the assets of the filter products division of mine safety appliances co for undisclosed terms
ireland put on colorado beetle alert
payments on remaining debt would be linked to cash flow generated by assets pledged against the debt
japan money growth to stay at 11 12 pct official
emerson emr sells new zealand dollar notes
ntt said it plans to make capital investments of 1770 billion yen in 1987 88 including 109 billion for research and development as against a total of 1600 billion this year
jacques thas in charge of rescue for the herald of free enterprise said his men had searched all of the ship except some inaccessible cabins and the control room
eurostat said ec industrial production in december rose 31 pct compared with 12 months earlier but added that after adjustment for seasonal factors output growth had been clearly slowing down since the beginning of the summe
the cut will more than double the number of corporations able to make non collateral issues from around 70 for straight bonds and 180 for convertibles now securities managers said
us oil lard statistics
the swap will be on the basis of two 2000 franc nominal 1980 bonds for one 5000 franc nominal bond of the 1987 issue
for the year as a whole incoming orders should rise between one and two billion marks to around 51 or 52 billion
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
shr loss 30 cts vs loss 20 cts net loss 1553000 vs loss 1031000 revs 100 mln vs 8696000
but with the dow ford and ge offerings the marketplace has had enough for the time being the prudential bache officer admitted
new zealand is launching a 100 mln stg eurobond due april 9 1995 priced at 100 1 4 with a 9 5 8 pct coupon lead manager warburg securities said
giving a 300 mln dlr loan in balance of payments support the bank said it will monitor progress on implementation of the governments trade reform measures and supported its determination to promote efficiency and longer term growth
the smoothed seasonally adjusted series shows a surplus on merchandise trade of 174 mln dlrs after 161 mln in january and 33 mln in february 1986
united cities gas co said it has acquired lyle propane gas co a cairo ga propane gas distributor for undisclosed terms
share amts relfect dividend requirements
whittaker general medical has annual revenues of about 450 mln dlrs
pl 480 commodities for honduras usda
it would be disbursed over three years he added
the company said the sale will complete associateds withdrawal from the general contracting business
many analysts and currency dealers have forecast a full one point cut tomorrow
year ago data reflect a two for one common stock split
but despite indias new drive countertrade has some inherent problems they added
aegon us holding corp a unit of aegon nv of the netherlands and life investors inc linvo said they have purchased about 451000 shares of life investors common stock for 5161 dlrs per share cash
the amendment offered by rep
ph glatfelter co glp increases dividend
haas also called for a review of present chicken industry inspection methods that she said can worsen poultry hazards
it said values of up to 0073 ounce of platinum 0206 ounce palladium three pct copper and 45 pct nickel were found over a drill section of 13 feet
the home depot inc hd 4th qtr feb one net
and an accompanying press release referred only obliquely to the fact that the 7 8 pct margin will increase to one pct as long as the philippines pays amortizations as agreed with the banks the threat of a higher margin gives the philippines every incentive to make the extra payments and the government has indicated that it will in fact do so bankers said
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
nortek has proposed paying half cash and half nortek convertible preferred stock for rexham which has about 42 mln shares outstanding
the proposal to be published in the federal register next week requests written congressional and public comment within 60 days and deals with uranium ore and oxide that is imported for us processing and exporting to third countries
aqua chem unit set to build site near tulsa
if we give the soviets the same deal as the chinese i expect theyll take it said vernon mcminimy director of commodity research for ae staley manufacturing co
bangor hydro electric co said the maine public utilities commission approved changes in rates effective today that will decrease revenues by about 412000 dlrs or 05 pct
lbs choice round cuts steady up 1100 160 round part bnls 50 85 few 137 161 round bnls 42 80 few 147 161 diamond cut 49 85 few 149 167 knuckle 8 15 few 148 167a knuckle peeled 8 15 few 163 168 top inside round 14 26 165 175 170 bottom gooseneck rnd 18 33 131 135 more
ecuador seeks halt to payments to banks in 1987
if current policy remains in force annual farm program spending by 1992 will be down from last years record by more than eight billion dlrs it said
miles laboratories inc 4th qtr net
money growth has been slowing perceptibly in march which should give them more room to not tighten she said
the federal communications commission has already approved the stations sale
selling delhi meant csr has finally quit a damaging investment made in 1981 which has dragged down the companys overall performance analysts said
banks were well supplied with liquidity holding 615 billion marks in reserves at the bundesbank on tuesday
he also said reeves and walsh had been paid a total of 562000 stg in compensation following their resignations but declined to say how much each man got
last week gaf had purchased additional shares of the company for 40 1 8 dlrs increasing its stake in borg warner to 199 pct
south koreas current account surplus narrowed to 419 mln dlrs in february from 679 mln in january compared with a deficit of 112 mln dlrs in february last year provisional bank of korea figures show
lower refinery operations seen producing profits
the pennsylvania enterprises board rejected the offer two weeks ago as being inadequate
the meeting which is being held in conjunction with this weeks international monetary fund world bank sessions will reaffirm the currency pact and there is no need for changing the language used in the paris accord the officials said
latin coffee meeting to be held in managua
commerzbank to acquire and float linotype
both south atlantic and independence are insurance companies
it quoted president ali khamenei as saying we will definitely retaliate and will not leave this american move unanswered a broadcast monitored in nicosia said several civilian personnel on the rashadat oil platforms in the gulf east of qatar were injured when us warships bombarded them this afternoon
the delegate body attending the american pork congress in indianapolis approved a pseudorabies control and eradication program at the state level after a recommendation from nppcs prv pseudorabies virus oversight committee
the house of representatives approved a bill to enable 1987 winter wheat and feedgrains farmers hit by midwestern flooding last year to receive at least 92 pct of their federal income support payments even if they did not plant
the trend is still 35 pct in the first half of the year in 1986 declining energy prices contributed to a 25 pct decline in the ppi
fluegel said his delegation had received a negative response from the italian agriculture ministry but that the attitude of the foreign ministry appeared more realistic he said the proposed tax was discriminatory against us farmers since it was basically asking them to help finance the ecs common agricultural policy cap on oilseeds
argentina has said the barriers and subsidies cut unfairly into the countrys traditional markets for its grain exports
shr 73 cts vs 55 cts net 260 mln vs 171 mln revs 6733 mln vs 3945 mln avg shrs 293 mln vs 224 mln
general acquisition said the board could not carry out its duties to shareholders and make an informed decision until it has explored with us the ways in which our offer can be revised to provide greater value to your shareholders general acquisition added it was aware the board may be reviewing alternative transactions which might provide gencorp shareholders with a payment other than cash
dealers said federal funds were trading at 6 3 16 pct when the fed announced the operation
hong kongs broadly defined m 3 money supply rose 14 pct in february to 61559 billion hk dlrs from january when it rose 22 pct the government said
the average forecast of those surveyed projects roughly quarter point drops by the end of june in both the treasury bond yield to 7 1 2 pct and the federal funds rate at which banks lend to one another to 5 7 8 pct
crucial will be the ability of the 13 member opec to hold oil prices around a new benchmark of 18 dlrs a barrel in the northern hemisphere summer when demand usually slackens
intelligent systems master limited partnership said it will make a cash distribution of 25 cts a unit in early april to unitholders of record as of march 31
this bill will be the cornerstone of congressional efforts to restore competitiveness of american industries and turn around last years record 169 billion dlrs trade deficit
indonesian president suharto set up a high level team in july last year to speed up projects using adb funds
federated department stores march sales up 49 pct
most recently when prices of perpetual floating rates notes frns suddenly plunged most market makers abandoned the securities altogether leaving investors stuck with about 17 billion dlrs worth of unmarketable securities on their books
the sources said it was possible that the spanish intervention board would be asked to buy the produce directly this year as it was rather late to make other arrangements
the completion of the pipeline would allow ecuador to resume some of production paralysed since march six by an earthquake the night before
shortly after poehl spoke the bundesbank announced a tender for a securities repurchase pact at a fixed rate of 380 pct
the company has two actively traded convertibles outstanding a 500 mln dlr bond due 1994 which pays 11 3 4 pct and a one billion dlr deal also due 1994 paying 11 7 8 pct
echlin inc 2nd qtr shr 24 cts vs 20 cts
public finances director jorge marcano said the government plans to issue dollar mark and yen denominated bonds this year for amounts varying between 100 and 150 mln dlrs
the company said a preliminary estimate of the geological resources of one of the properties to a depth of 200 meters indicates a potential of 12 mln ounces of gold and by the middle of 1987 it expects to establish proven ore reserves containing at least 500000 ounces of gold
he didnt say what he would or wouldnt do about it said ual senior vice president kurt stocker
kansas city southern industries inc said it is ready to promptly purchase the southern pacific transportation co from santa fe southern pacific corp sfx if the interstate commerce commission rejects sante fes attempt to reopen the merger of southern and the atchison tokepa and santa fe railway
wheat from the river plate and buenos aires to sri lanka received 26 dlrs
united banks colorado ubks acquisition cleared
emery topped a 35 dlr per share or 268 mln dlr offer from ef hutton lbo inc
ecuador announced an austerity program and a price freeze on key consumer goods as a result of last weeks earthquake which killed at least 300 people
danzar said the dividend will also include 18750000 commonwealth shares it already holds
the group owns 98 pct or 2180608 shares of gencorps outstanding shares
tender loving care health care services inc said it and staff buildiers inc have extended the term of their merger agreement until may 31
american express co said its board approved a public offering of about 18 pct of its wholly owned shearson lehman brothers inc brokerage unit
unibancorp inc ubcp regular dividend set
safeguard scientific sfe in equity deal
the consumer position would have in effect reduced the market share of brazil by far the worlds largest producer
he was speaking after a meeting of farm leaders with the danish foreign and agriculture ministers who currently chair meetings of their ec colleagues
victorian public authorities finance agency is issuing a 100 mln canadian dlr bond due april 15 1992 paying 8 1 2 pct and priced at 100 5 8 pct lead manager wood gundy ltd said
no dividend was recommended
a total of 210 mln tonnes of intervention wheat has been sold for export or to the home market since the season started july 1 leaving an unsold balance in intervention of about 159 mln tonnes
the spokesman said the company has not yet identified which of its canadian hotels will be offered for sale
the interest rate will be at 13 16 pct over eurodollar deposit rates the margin that applies to the entire package
gross purchases of foreign stocks rose to 448 billion dlrs in february from 267 billion in january while gross sales were 296 billion against 256 billion
s and p said that after two years and many delays and disappointments the cable television industry has firmly established a net cash generating position
us wheat groups call for global action
under the program notes in denominations of 100000 dlrs will be issued with maturities ranging from seven to 365 days
brazil which declared an interest payments moratorium last month is leading a challenge to washingtons strategy and officials here obviously feared any decisions that might deepen rifts between the united states and third world nations
chases underlying profitability remains at median levels because of its high expense structure s and p said
allwaste inc said it has agreed in principle to acquire a privately held firm that performs interior cleaning services for tank trailers for 1300000 common shares
the transaction is expected to close in april
kraft kra completes buy of quaker oat unit
in germany this did indeed happen in 1986 koehler said
twa stock rose one to 28 1 4
ultra liberalism is impossible illusion or not the government has pushed its vision hard
they said cpc made the recommendation to the cabinet and is now awaiting its approval
niagara mohawk nmk to cut costs
the annual growth of australias m3 money supply rose by 112 pct in the year ended february compared with januarys 107 pct the reserve bank said
if opec achieves its stated goal of an 18 dlrs a barrel average price he said venezuelas should move up to 1650 dlrs
1986 1st quarter amounts do not include rockport as reebok acuqired that company in october 1986
analysts said the standard investment is extremely attractive to bp because the us is the largest oil market and has hard to replace reserves
corrected philippines criticises ec for oil levy
mcintyre mines ltd said it completed the previously announced sale of all shares of wholly owned smoky river coal ltd and certain related assets to smoky river holdings ltd for a nominal cash consideration
hanson trust plc han said its us subsidiary hanson industries sold pcr inc a specialty chemicals unit for 625 mln dlrs in cash to chemical partners inc hanson industries said it acquired pcr inc in 1986 as part of its purchase of scm corp pcr inc posted an operating loss in 1986 of 381000 dlrs on sales of 132 mln dlrs the company said
first of america fabko acquires keystone
import curbs on about 400 foreign goods including stationery and books would soon be relaxed he said
world could cope with hormuz closure subroto says
taiwan announced plans for another round of import tariff cuts on 862 foreign goods shortly before trade talks with washington which officials described as a move to help balance trade with the united states
within this sector the output of both basic products and of food tobacco and alcohol fell 1 1 2 pct
the french finance ministry said today a public flotation offer opening this coming tuesday for 39 pct of the capital of banque industrielle et mobiliere privee bimp has been set at 140 francs per share
krenzler said less than 10 pct of the oklahoma wheat crop has advanced to boot stage
if a transaction takes place the buyers going to control the situation freedman said
the notes are fully secured and therefore have a prior claim over cambrians assets in the event of other claims arising from litigation it added
lennar corp len 2nd qtr may 31
atlantic richfield said the divestitures are in line with its policy of focusing resources on oil gas chemical and coal operations
the increased cost of using us vessels was to be funded by the transportation department instead of usda
the report also could not be confirmed by several bank dealers
cimarron petroleum ltd nine mths net
pacific resources inc said it signed a definitive agreement with royal dutch shell group unit shell oil co to buy shells marketing terminaling and distribution assets in hawaii for 32 mln dlrs
applied solar energy corp solro 2nd qtr net
minas de almaden raises mercury price
federal reserve weekly report 1 feb 26 two weeks ended feb 25 daily avgs mlns net free reserves 644 vs 1337 bank borrowings 680 vs 425 including seasonal loans 81 vs 56 including extended loans 299 vs 265 excess reserves 1025 vs 1497 required reserves adj 55250 vs 55366 required reserves na vs na total reserves na vs na non borrowed reserves na vs na monetary base na vs na two weeks ended feb 25 total vault cash na vs na inc cash equal to req res na vs na one week ended feb 25 daily avgs mlns bank borrowings 614 down 131 including seasonal loans 88 up 14 including extended loans 304 up 10 float 511 down 320 balances adjustments 2101 down 67 currency 206490 down 519 treasury deposits 4208 down 63
proven gold ore reserves amount to 50000 tonnes while estimated reserves of gold and black ores total one mln tonnes he added
bass has for some time regarded overseas holidays as an area for expansion and in pursuit of this objective acquired a 256 pct holding in horizon in 1985 when it set up the jointly owned hotel company
us money managers and investment advisors said they expect stocks to continue to outperform bonds but some are hedging bets by keeping roughly half of portfolios in bonds and cash for quick investment shifts
dome petroleum is now negotiating a plan to restructure debt of more than 61 billion canadian dlrs with a group of 56 major creditors which includes dome mines and encor energy
the 6 7 8 pct series preferred stock is redeemable at any time at the option of the company at 10688 pct per share on or before march 31 1992 and declining to 100 pct on and after april 1 1994 the company said
the company said the alternative filing seeks to recover about 79 mln dlrs a year through the pipelines non gas sales commodity rates
sir nicholas goodison chairman of the london stock exchange said in new york yesterday that sanctions against japanese financial institutions operating in the uk would set back londons ambition to become a leading centre for corporate financing and securities trading
the us agriculture department made the following 1986 87 projections in its world supply demand report with comparisons in mln tonnes except where noted total world grain 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 produc 168231 168611 166369 166370 total supply 202571 202845 191918 192013 trade x 21215 21189 20442 20392 usage 163501 163040 157578 157779 end stks 39070 39805 34340 34234 x based on export estimate
a decision on final dumping duties on frozen orange juice from brazil may not be issued until tomorrow commerce department officials said
a council meeting of the international natural rubber organization inro has been adjourned until thursday as tomorrow is a malaysian national holiday officials of the organisation said
we were able to make our case against them here he said
standard and poors corp said it downgraded dana corps 900 mln dlrs of debt securities
in view of the increase in our share price today i want to make clear that we have not received any bid approaches reeds chairman leslie carpenter said in a statement
the second sale when completed will lower its stake to 199 pct acceleration said
it said it did not know when distributions would be made
he indicated if the loan rate were 456 dlrs usda could then consider ways to make us soybeans more competitive such as using certificates to further buydown the loan rate
it said a 20 mln dlr loan is being made to help finance a project designed to test strategies to improve the quality and cost effectiveness of agricultural extension services
van driel said profits would have been nine mln guilders higher if the us currency had remained at its average 1985 level of 320 guilders
assets of money market mutual funds rose 7204 mln dlrs in latest week
it said legg mason wood walker and jc bradford would co manage the deal
he said one potential channel for renewed inflationary pressures would be an excessive fall of the dollar in the exchange markets which would push import prices up sharply
i think this in all honesty is a preliminary step said long
cavanaugh vice president for grain marketing with indiana grain said he would prefer to trade futures through a chicago based cooperative
the four banks are central bank of volusia county with assets of 593 mln dlrs bank of pensacola with assets of 638 mln dlrs and vista bank which operates vista bank of volusia county with assets of 378 mln dlrs and vista bank of marion county with assets of 723 mln dlrs
as china lacked storage much of these imports was stored in qinghai inner mongolia and other inland areas the diplomat said
leading cocoa producers will discuss whether newly agreed rules on an international cocoa buffer stock will succeed in reversing a sharp fall in world prices when they start four days of talks here later today conference sources said
wd 40 co wdfc 2nd qtr feb 28 net
the federal reserve purchased about 500 mln dlrs of us treasury bills for a customer a spokeswoman said
comdata cdn accepts new welsh carson bid
standard pacific spf acquires south bay s l
we will have a good bill and an effective bill he told reporters
he was asked about iranian claims that the united states was moving towards the brink of armed conflict with iran
about 300 other creditor banks also are expected to approve the agreement he said
persio arida a former director of the brazizlian central bank who was a key architect of that countrys cruzado plan to curb inflation said there is an incentive problem throughout latin america
campeau bought the rest at 69 dlrs a share
the international coffee organization executive board is to meet in london between march 31 and april 2
citing statistics indicating that by the year 2000 asia will contain two thirds of the worlds population and 50 pct of global productive capacity cornelissen said we knew we had to be there royal trusts 14 international locations include offices in tokyo hong kong and singapore
people ridesharing systems ride 1st qtr net
morgan also said that based on current interest rates and assuming cash interest payments are not received for the rest of the year 1987 net income would be reduced by about 72 mln dlrs
on dec 31 1986 company distributed remaining 804 pct interest in subsidiary to kay corp holders
in late february an investor group headed by jacobs offered 44 dlrs a share or 329 billion dlrs to take over borg warner
ussenate lifts some bans on natural gas
baldrige says japan must open its markets
agency officials said this was the worst performance since 1974 when gnp contracted 14 pct in the wake of the first oil crisis
painewebber is co lead manager
group loss after financial income and expenses 108 billion vs loss 71 mln crowns sales 1238 billion crowns vs 616 billion
last year the ec had a five billion dlr trade deficit with east european states about half the deficit of the previous year due to a drop in the price of soviet oil imported by the ec
slab zinc consumption was 14257 tonnes against 14190 during december while offtake of scrap and re melted metal was 4521 tonnes against 3739
the issue was increased from an initial offering of 100 mln dlrs
but in an interview with conable said the action by the united states to slap tariffs on certain electronic goods from japan did not mean the countries were heading for a full scale trade war
herrington also pressed anew for existing administration proposals to deregulate natural gas which he said would cut the need for imported oil by 300000 barrels daily
the group said the federal government should preempt state regulation of defensive takeover tactics
results will be announced on tuesday
shr loss two cts vs loss 179 dlrs net profit 4959000 vs loss 562 mln revs 2903 mln vs 2450 mln nine mths shr loss 75 cts vs loss 178 dlrs net loss 9390000 vs loss 442 mln revs 8008 mln vs 8386 mln note full name is amca international ltd
the increase of 664 mln lbs in total poultry offsets the 226 mln lbs decline in total red meats
it said funds will be used for general corporate purposes
the country was thus targetting a fall in this years trade surplus to 80 billion dlrs from 1986s 95 billion
net 646000 vs 470000 assets 1730 mln vs 1529 mln notequarter ended march 31
with imports coming down from 18 mln last year to one mln there is legitimate concern about the impacts on caribbean countries and the philippines huckaby said
the sales though were inappropriate in the light of mitis advice to semiconductor makers to sell chips at well above production costs to avoid any hint of dumping he said
there is some reluctance to trade with texaco but no great change said another trader adding that traders are tending toward prudence in their dealings with the company
diplomats expect the government to ask the world bank and other foreign donors to provide most of the foreign exchange portion
the 42125 mln dlrs of 875 pct class j seven bonds due august 2018 are priced at 9925 pct to yield 885 pct
rexnord said the sale is part of a major program to divest several of its businesses representing about 200 mln dlrs in net assets
that was up from 2454000 the previous week
the somc said in recent months rapid money growth has been a principal cause of the devaluation
however there are considerable indications that farmers are reluctant to plant cane because its economic return is not as good as that of other crops
kohl reiterated german objections to proposed cereals production curbs but reserved his harshest criticism for a proposed dismantling of monetary compensatory amounts mcas a system of cross border subsidies and taxes which level out foreign exchange fluctuations for farm exports
thus there is a good chance that we will attain our 1987 earnings goal although not in the way originally planned columbia gas said
trade wars and possible protectionist measures amongst the us japan and europe would also hamper polands efforts to regain entry
shr 31 cts vs 26 cts net 5645000 vs 4737000 sales 552 mln vs 506 mln 1st half shr 60 cts vs 53 cts net 109 mln vs 9659000 sales 1104 mln vs 1022 mln note current year net both periods includes 474000 dlr gain from land sale
forum group inc said it has terminated its agreement in principle to buy eight retirement living centers in six states from beverly enterprises due to a failure to reach a satisfacotry definitive agreement
the annual shareholder meeting will be held in london on april 29
the central bank sources said negotiations would start in april on another 150 mln dlr loan from the world bank to implement reforms in the government corporate sector
cash flows which include half yearly provisional and terminal tax payments are expected to more than offset cash injections
a payment obligation entitles the holder to receive a cash payment under certain events or to certain repurchase rights
taiwan announced it would ease curbs on some 600 farming and industrial products last month
shr 16 cts vs 13 cts pay april 15 record march 31
the ingredient was cited in an article in the west german publication aids forschung
mlx mlxx unit agrees to by abex unit
a portuguese court has made a preliminary ruling that the state grain buying agency epac should not be allowed to take part in public import tenders open to private importers grain traders and officials said
gunma bank issues 50 mln dlr convertible eurobond
that argument has clearly weakened he said
cross and trecker corp said its warner and swasey subsidiary will seek to sell its grinding division to focus on other areas of its business
the deal is expected to close on march 31 act said
methyl chloride is an integral part of silicone production
we are in discussions and are looking forward to some response she said
sony corp snet chairman akio morita said sonys profits would be sharply down in 1987 as a result of the dollars decline
ici ici sees growth in pharmaceuticals
i prefer a move to target zones in which the major countries would determine ranges of 15 20 pct within which they would pledge to hold their exchange rates by direct intervention and as necessary by changes in monetary and other policies bergsten now the director of the institute for international economics said in a statement to a house banking subcommittee
het comites actions will run in tandem with questions on the levy already posed to the luxembourg court in a case brought by the association of european animal feed manufacturers fefac
he told reporters the deposits located at four sites near the town of san ignasio contained the equivalent of 100 tonnes of gold
there is no assurance the bank will receive acceptable offers or be sold but we feel this is a prudent step to take at this time the bank said
for the nine months ended dec 31 1985 it reported a loss of 634 mln dlrs or 654 dlrs per share on revenues of 476 mln dlrs which it said was a result of noncash writedowns of oil and gas properties
since paris there are signs west german growth is slowing while us officials said they were giving japan until april to show that an economic stimulus package was in the offing
balladur said in an interview with the financial daily les echos that the countrys economic growth will probably be about the same as last year due to a less favourable international environment
mthly div 69 cts vs 69 cts prior pay march 31 record march 16 note franklin michigan insured tax free income fund
the 101 2 32 level in the june bond contract had been the top of a three month trading range which when penetrated during the rally wednesday led to bullish forecasts by chartists
the bank of japan will sell 300 billion yen of financing bills tomorrow under a 55 day repurchase accord maturing on may 12 money traders said
she said the sugar could be offered again to intervention
ponce federal bank fsb pfbs raises dividend
textron said morgan stanley and co will represent it in the sale
messidor to merge with triton beleggingen
bank of england officials were not immediately available for comment
because of unprecedented and ever growing smuggling hasco regrets it cannot continue to accept delivery of sugar cane after april 10 the mill warned planters earlier this week
japans nippon oil is a partner of texaco incs tx texaco usa in a 100 mln dlrs us drilling program and has joined with duponts dd conoco inc in a similar 135 dlrs mln deal
the yield of 1986 87 maize continued to be forecast at between 99 and 101 mln tonnes
the companys stock last traded on the toronto stock exchange at 19 3 8
charles rose an analyst with oppenheimer and co said that on a breakup valuation the company might be worth as much as 125 dlrs per share
del e
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
savin svb note conversion ends
but it added a bill adopted by the senate banking committee last week could affect chase manhattan if it becomes law and might force it eventually to cease commercial paper underwriting activities
for 980 dlrs a night scott perry a 23 year old budding english teacher from new zealand shares an unheated berth sized twin room in the japanese flop house perry has budgeted 26 to 33 dlrs a day while he looks for work
the non callable issue is available in denominations of 10000 and 1000 stg and will be listed in luxembourg
shr 146 dlrs vs 141 dlrs net 2775 mln vs 2683 mln sales 213 billion vs 214 billion avg shrs 1898 mln vs 1898 mln nine mths shr 395 dlrs vs 378 dlrs net 7505 mln vs 7184 mln sales 628 billion vs 622 billion avg shrs 1899 mln vs 1902 mln
peripheral systems psix agress to buy company
corrected mellon mel units notes
geplacea sees a new international sugar agreement which would regulate prices as one of the few chances of pulling the regions industry out of steady decline
oil industry sources said this structure was now likely to be streamlined further into five refining groups
banco di roma london branch has arranged a 200 mln dlr nominal euro commercial paper program swiss bank corporation international ltd said as sold dealer
in 1979 the ratio of interest bearing accounts to current accounts was 27 to 73 pct
philip crosby pcro sees lower 4th qtr results
brazilian bank workers voted to launch a nationwide strike this month compounding labour unrest arising from the failure of the governments anti inflation plan
the new guideline will go into effect on april 6 the bank said
if they want to lay off the workers fine but we are determined to carry on with our protest until the end a union leader said
api says distillate stocks up 285 mln bbls gasoline off 237 mln crude off 113 mln
there is a one pct selling concession and a 1 2 pct combined underwriting and management fee
brown and sons inc and painewebber inc
earlier today the company told a meeting of investors here that the first quarter loss would be 20 cts a share
popular newspapers headlined what they saw as turkish resolve and international pressure forcing greece to pull back from planned exploration in disputed international waters
oil use in the 24 countries of the oecd increased by around one pct in first quarter 1987 to 359 mln bpd the iea said in its monthly oil market report
jude medical is a takeover target
in its sec filing industrial equity pacific said its president of north american operations ronald langley met with calmat officials on october 14 to discuss an acquisition of the company at a premium over the market price of calmat stock
producers are expected to hold other consultations in the coming months on how to proceed with quota negotiations but no date for a full producer meeting has been mentioned they said
gmac plans to talk to korth and painewebber and get their thoughts on the deal
the accord restructured 58 billion dlrs of previously rescheduled debt 35 billion dlrs of debt falling due between january 1987 and december 1992 and 925 mln dlrs of new money lent by the banks in 1985 at a spread of 7 8 percentage points over london interbank offered rates libor it also rolled over trade credits worth 29 billion dlrs
on february 26 the company redeemed convertible debentures with common stock which at once increased goldmans stock holding and the total outstanding
exxon currently has two refineries in france fos in the mediterranean with a capcity of 175000 barrels per day and port jerome west of paris with a similar capacity
the non callable bond is guaranteed by the state of south australia and will be listed in luxembourg
things have improved but money center bankers are determined to keep hounding recalcitrant banks even once the 77 billion dlr target has been reached
ministry officials declined to say when they would give formal approval but said they were working on the issue
credit lyonnais is acting as coordinator for this facility
china sports service corp of china and seylla corp of hong kong signed an agreement to borrow five billion yen from an international syndicate of banks led by the bank of china the new china news agency said
parent bank commission surplus in the securities business had risen almost 15 pct to 358 mln marks in 1986
coffee prices normally rise during brazils frost season mainly june august as dealers and roasters build up stocks as insurance against possible severe frost damage to brazils crop
marine midland mm may reclassify brazil loans
the senator predicted congress would have to decide this year whether to require an expansion of the export subsidy program which currently targets benefits to recapture markets lost to other suppliers which subsidize
the company said its was served the suit in minneapolis on march 31 the day after it announced its definitive merger agreement with bristol myers
bankers said both benefited from trade finance and increased capital market operations
baird and co inc
the company said the losses result from its strategic decision to invest prudent levels of equity in development of products the company can manufacture and bring to market
dwg dwg completes sale of unit
last falls dry weather may limit livestock grazing on moisture depleted pastures while the cold winter weather necessitated supplemental feeding to keep livestock healthy
the gains in manufacturing employment point to a very large increase in industrial production of between 05 and 07 pct said joe carson of chemical bank
jon rosenbaum us assistant trade representative and delegate to the talks said in a statement after the council adjourned a majority of producers led by brazil were not prepared to negotiate a new distribution based on objective criteria
the investor put option on may 7 1993 has been fixed at 133 1 2 pct to give the investor an annual yield to the put of 8 1 2 pct
christopher brougham regional manager rescheduling unit at lloyds bank plc said in response to a enquiry that the six major uk clearing banks last week sent a telex to citibank saying they would contribute what was requested provided all other major lenders did the same and that the us banks contribute at least 90 pct of the amount required by them
bankers said the deal for the jeddah based heavy equipment importer is likely to set a precedent for the private sector
merrill lynch pierce fenner and smith inc has increased its underwriting commitment to 175 mln dlrs of subordinated financing debt for the viacom takeover from the 150 mln dlrs it agreed to underwrite earlier redstone said
the us has thought carefully about what would correspond to iranian agression
after completing the city commercial acquisition and four other acquisitions having combined assets of 248 mln dlrs first union will have assets of 286 billion dlrs
rjr nabisco rjr has offsetting gains charges
royal trust plots aggressive global expansion
the board will offer 35000 bags at its next auction on april 14
its focus is to force president reagan to retaliate against unfair foreign competition and to make it easier for us industries to win temporary relief from surges in imports
keating revises down australian growth forecast
comdata said the letter was in accordance with the previously announced terms with welsh carson
combined with the increase in hours worked this means well get a pretty healthy gain in personal income vis a vis the wage and salary disbursement he said
armel inc aml 4th qtr loss
argentina sets new support prices for grains
ecuador was forced to suspend oil exports for an expected four months after an earthquake damaged a pipeline
one minister was dropped in the shuffle announced in a presidential decree
istat said its consumer price index for the families of workers and employees base year 1985 equals 100 registered 1095 in march 1987 compared with 1091 in february this year and 1051 in march 1986
ethiopia minister sees africa debt payment problem
it was at a peak of 117 pct last summer
the stock was trading at 47 1 2 up 2 1 2 points
qtly div 30 cts vs 30 cts in prior qtr payable april 20 record march 31
argentine wheat exports to brazil will increase from 1375000 tonnes in 1987 to 20 mln tonnes in 1991 the accord said
non callable to maturity the issue is rated a 3 by moodys and a by standard and poors
citicorp filed an 8 k form with the securities and exchange commission indicating a material change in its financial situation
new credit advanced by finance houses retailers bank credit cards and other specialist providers of credit slipped to 266 billion stg in january from 278 billion in december but remained close to the average level for 1986s fourth quarter the department of trade and industry said
dealers said that the banks strategy succeeded in stemming pressure for a further rate reduction only briefly as the market yesterday recovered all the ground it lost on monday immediately after the announcement
the icco made buffer stock rules negotiations a priority at this semi annual council meeting in order to stop the slide in world cocoa prices
three month interbank dinar deposits were quoted today at about 687 587 pct
the new rate if unmatched by other banks will be the lowest among australian trading banks
exports fell to 504 billion rupees provisional in february from 534 billion final in january and compared with 390 billion in february 1986
this drop was mostly due to a decline in opec crude production to around 155 mln bpd in february march from 165 mln bpd in january and to the seasonal drop in exports from centrally planned economies the iea said
the planned psbr for 1987 88 was 40 billion stg unchanged when compared with the likely outturn for fiscal 1986 87 lawson said
the finance ministry sources gave no details of the groups interested in cgct but several have publicly announced their candidacies
cts made a profit of 79 mln dlrs from continuing operations in 1985
strawbridge and clothier said its board declared a seven pct stock dividend payable may 14 to holders of record april 14
shr 15 cts vs 27 cts net 4358947 vs 7786640 revs 1408 mln vs 1212 mln year shr 86 cts vs 106 dlrs net 248 mln vs 305 mln revs 5603 mln vs 4877 mln
the federal securities and exchange commission sec is looking for possible securities laws violations in connection with an unsuccessful 1986 bid by hollywood producer burt sugarman to take over tre corp attorneys contacted by sec investigators said
bildner also said it plans to offer 25 mln dlrs in eurodollar convertible subordinated debentures due 2002 through underwriters led by painewebber group inc pwj and kidder peabody and co inc with proceeds to be used to finance expansion and reduce debt
he said if he fails in talks tomorrow and friday to forestall sanctions he will seek further talks with us trade representative clayton yeutter
qtly div seven cts vs seven cts in prior qtr payable april 15 record march 31
they also said there was a growing feeling among the finance ministers and central bankers that cooperation over medium term policies has replaced the bickering over short term differences in past meetings
shr 71 cts vs 61 cts net 785 mln vs 646 mln note current qtr includes gain of seven cts shr from sale of securities
the new accounts show 1985 with shareholders equity of 115 billion francs instead of 175 billion and similar alternations were made for previous years
horis godfrey a consultant representing florida and texas cane growers said florida cane is off to a good start because for the first time in several years there was no winter freeze
coffee accounts for about 95 pct of ugandas export earnings and last november president yoweri museveni ordered all coffee shipments to be carried by rail in order to avoid the higher costs of road haulage
there was nobody at british petroleum immediately available for comment
family health systems fhsy to make purchase
the inflation outlook while broadly satisfactory has worsened in recent months with oecd consumer prices forecast to rise 35 pct this year and 375 pct in 1988 after a 28 pct increase in 1986
such bonds in theory would rid these banks of the need to lend money to their former debtors every time a new money package was assembled and has been suggested by argentina in its current negotiations for a new loan of 215 billion dlrs
theres momentum in first quarter labor force activity but less than assumed he said
the ec can only reject an offer to sell into intervention stocks on quality grounds
commenting on the dollars fall below 150 yen sumita reiterated he cannot find any specific reason for the currencys weakness
albertsons inc abs raises qtly dividend
it said periodic face samples indicate an average grade of 105 ounces per ton of ore ranging from a low of 078 ounce per ton to a high of 558 ounces per ton
the rating agency cited elevated levels of non performing assets that are concentrated in real estate lending
their main aim was to prepare the ground for the annual ministerial meeting of cipec which is scheduled for zaire in late september
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
wen wei po a hong kong daily said the drought the worst for more than 20 years is affecting nearly two mln hectares in 100 counties in sichuan the countrys biggest agricultural producer
douglas said the coupon rate is the lowest obtained by the government on a sterling loan since 1971
usda said the 0 92 option for 1987 winter wheat farmers would produce a net savings of about 30 mln dlrs while the requirement to compensate fully disaster struck farmers would cost about 135 mln dlrs which must be appropriated by congress
the central bank also announced the auctions would be fortnightly not weekly beginning on april 2
six industrialised nations agreed in paris last month that newly industrialising countries such as south korea and taiwan should allow their currencies to appreciate
in a speech earlier today before the national grains and feed association usda secretary richard lyng said it is too late to implement 0 92 for 1987 crops since program signup will be over by the end of this month
japan oil industry decontrol may lead to mergers
the dollar decline was key in recent weakness in debt futures as it rekindled concern about a pickup in inflation
qtly div three cts vs three cts previously pay april 15 record april one
that was a feeling among people on the committee one banker said
according to kleinworts sources saudi arabia has already held separate talks with iran and iraq and is urging iraq to be more moderate
the bank said its expects to report estimated net of over 15 mln dlrs for 1987
additionally the company said it is willing to negotiate all aspects of its offer and is willing to consider a transaction which would be tax free to crazy eddies shareholders
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
because of the acquisition of brooks drug in september 1986 and the companys change of fiscal year prior year results are not comparable compact video explained
it rose 1335 pct from 12427 billion at the end of december 1985
texas international tei has unqualified audit
speculation has been rife that the dutch central bank encouraged by a strong guilder mark relationship and wide premiums for dutch money and capital market rates over german might lower rates without the bundesbank moving first
if it gets to the irving shareholders they would approve it but irving hopes the offer wont go to the shareholders said mark alpert banking analyst with bear stearns cos inc
australian plans philippine branch for takeover
european community industrial output increased by an average of around two pct last year compared with 33 pct growth recorded in 1985 against a year earlier the ec statistics office eurostat said
it also purchased 65 mln stg of treasury bills in band one at 9 7 8 pct
the official said the decline was also caused by falling exports in february due to the climb of the taiwan dollar which has made taiwanese products more expensive
us real gnp rose revised 11 pct in 4th qtr instead of 13 pct rise
the stake includes 782000 common shares and cumulative convertible preferred stock which could be converted into 100507 common shares
these issues directly affect the debt problem and the ability of the debtor countries to grow out of their difficulties
normal work has resumed at new zealand ports as negotiations between harbour board workers and employers continue
in testimony before a senate committee baker said that throwing money at the debtor nations wont solve their problems he said it might seem like an easy solution to the debt problems and might appear a simple way to boost us exports and growth in the debtor nations
it said products from the venture are expected to be introduced within the next year
the company said it will report its earnings soon
but debt must be managed effectively or it hampers development conable defended his reorganisation plan for the bank which he said was aimed at improving efficiency and limiting bureaucracy
the company said the order and injunction would also prohibit dixons from exercising a lockup option granted it by cyclops and prohibit dixons for 10 business days from attempting to exercise any control over cyclops
elders ixl ltd elxas said the canadian government approved its bid for carling okeefe ltd elders earlier announced it was buying 109 mln shares or 501 pct of carling from the canadian subsidiary of rothmans international plc rotl for 18 canadian dlrs each
todays quiet market continued a lull of several days in which traders were said to be waiting on the sidelines ahead of further clues to the direction of oil prices and the saudi economy
waste management says waiting period ends on its chemlawn bid
fuller has been named president
in addition houston metals said the weighted average of 25 diamond drilled holes 375 ft below the 2600 foot level and 800 ft along the strike assayed gold at 237 oz per ton silver at 1091 oz per ton and zinc at 899 pct
it attributed its better than expected forecast to sales growth which it said were particularly strong overseas
application will be made for listing on the amsterdam stock exchange
transatlantic row imperils louvre accord dealers
assets and liabilities of finance companies fell to 687 billion dlrs from 695 billion and compared with 685 billion respectively
instead it appointed a committee of independent directors to study strategic alternatives for the 170 year old firm
clark equipment also said the investor group agreed to enter into a standstill agreement which prohibits members of the group from purchasing shares of voting securities of clark for 10 years
when wholesale prices go above the ceiling the lipc releases its beef stocks both domestic and imported and buys locally produced beef when prices are below
gaviria said the decline in coffee prices could mean a loss of 15 billion dlrs in revenues for 1987
the move will will enable it to boost service in the pacific by 15 pct in 1987 american president said
but financial analysts are divided on whether and how quickly the gamble will pay off
western diplomats said they expected conable to press indonesia to maintain the pace of its present economic reforms to cope with the slump in its oil revenues
french cge unit takes 34 pct stake in esca corp
20
sigma said the reserves are equivalent to 10 years future production at current milling rates
group members are cni partners an investment partnership mason best co a texas investment partnership and houston imperial corp a real estate development firm
polaroid rose 1 1 8 to 74 1 2
corrected national westminster bank usa 1st qtr
under terms of the transaction each norstar shareholder will receive 12 shares of fleet common stock based on the number of fleet shares after giving effect to a previously announced april one fleet stock split
steven garmaise of wood gundy inc expects canadian airlines profit in 1988 will more than double last years 298 mln canadian dlrs by pacific western
kyodo quoted nakasone as telling reporters after meeting the envoy i entirely accept what ambassador matsunaga recommended nakasone did not elaborate
overall banks holdings at the bundesbank rose 102 billion marks to 585 billion at the end of the month averaging 509 billion in the whole of march
economic spotlight france awaits economic lift
comalcos commonwealth aluminium corp unit said earlier it has conditionally agreed to sell its goldendale smelter in washington and port facilities at portland oregon to columbia aluminium corp
bangladesh navy unloads grains during port strike
the spokesman said it is still too early to tell what effect the dry weather will have on the size of the crop which is harvested from around june to december
qtly div 15 cts vs 15 cts prior pay april 30 record april 15
it had also proposed a takeover of usair which at the time was negotiating its proposed merger with piedmont aviation inc
bayernverein expects unchanged dividend for 1987
economists polled by had projected a 900 mln dlr fall in m 1 a 18 billion dlr drop in m 2 and no change in m 3
1986 third quarter net excludes gains from discontinued operations of 12 mln dlrs or four cts a gain from sale of discontinued operations of 285 mln dlrs or 106 dlrs and a charge from early repayment of debt of 58 mln dlrs or 22 cts
banco santander signed a letter of intent with bank of america bac to purchase its west german affiliate bankhaus centrale credit ag cc bank the bank said in a statement amplifying an earlier report from frankfurt
5300 also said it is continuing to discuss with various financial groups about possible financing for such a move but gave no indication of when any financing or proposal would be finalized fisher said
undersecretary of commerce bruce smart said we are gratified to learn that companies in canada have begun paying the export charge on lumber he added the agreement was important to the health of the us lumber industry and he intended to see that it was fully carried out
but this rise was due entirely to the lower value of imports caused by the decline of both the dollar and oil prices
the maximum rebate granted at yesterdays european community ec sugar tender marked no change in policy towards producers complaints that they are losing money on exports outside the ec ec commission sources said
the australian industry development corp aidc said it issued 20 mln australian dlrs of five year notes in london
india buys white sugar from london traders
it said it has no plans to seek control of the company
silver futures previously limited at 50 cents in most back months were trading about 30 40 cts weaker in the nearby contracts amid quiet trading today
york research york gets equity financing
study group urges increased us oil reserves
aziz said the pakistani government does not want area sown to wheat to increase from the current seven mln hectares
cmb officials have forecast that because the government has restored law and order in important growing areas uganda will produce over three mln bags of coffee in the year ending september 30 about 25 pct more than in 1985 6
bankers trust bt debt downgraded by moodys
shr two cts vs three cts net 369000 vs 347000 revs 213 mln vs 14 mln note per shr reflects payment of preferred dividends
oper shr loss 227 dlrs vs loss 162 dlrs oper net loss 127 mln vs loss 121 mln revs 600 mln vs 262 mln year oper shr loss 516 dlrs vs loss 156 dlrs doper net loss 290 mln vs loss 124 mln revs 1393 mln vs 1100 mln note 1985 operating losses exclude profits of 195 mln dlrs or 264 dlrs a share in quarter and 206 mln dlrs or 274 dlrs a share in year from discontinued operations 1985 loss in both periods includes pre tax charge of 169 mln dlrs on write down of oil properties
he added that wessanen teams were seeking acquisition possibilities in brazil taiwan thailand and china
outgoing deputy treasury secretary richard darman told television interviewers he did not think a policy of driving the dollar down would solve the us trade deficit
hanson trust han completes kaiser purchase
brazils sept trade surplus highest of the year
washington signed a three year accord with taipei last year limiting textile export growth to 05 pct a year
associated electric power enterprises in the yugoslav republic of serbia issued the bonds to raise eight billion dinars for the construction of new power facilities
the analysts said that bp had promoted a major management reorganisation of standard in the past year
it will extract enough ore to provide an estimated 25 mln dlr profit by the end of this year he added
a group led by new york investor mario gabelli told the securities and exchange commission it cut its stake in gencorp inc to 1410184 shares or 63 pct of the total from 1626233 shares or 73 pct
allegheny beverage abev downgraded by moodys
bass led group has 89 pct bell and howell co stake for investment
infodata systems inc infd 4th qtr net
dividend payable april 15 to holders or record march 13
extracts from a report by italys budget ministry on the countrys economic development in 1986 showed gross domestic product gdp 27 pct higher in real terms than in 1985 but a rise in unemployment
uk gec declines comment on us purchase rumour
usda is not offering any new soybean loan options and agriculture secretary richard lyng has not consulted asa on the soybean loan haggard said
the group said it wants the information so it can contact shareholders on issues including election of an opposition slate of directors to the board and other proxy contests
the writeoffs will cover the costs of plants and equipment involved as well as expenses connected with the staff cuts
it said products of the subsidiary based in monterey park calif are sold under the arrowhead brand name in california and arizona the ozarka name in texas and the great bear name in 11 northeastern states
first the buffer stock manager would be open to offers for cocoa rather than using fixed posted prices as previously delegates said
the commodity credit corporation ccc has approved an additional 840 mln dlrs in credit guarantees for sales of us agricultural products to algeria for fiscal year 1987 under the export credit guarantee program gsm 102 the us agriculture department said
frozen food express fexpo 3rd qtr net
nine month sales to september 1986 were about 12 billion dlrs
the company also recently listed its shares on the tokyo stock exchange
calny is the largest franchisee of pepsicos taco bell restaurants operating 143 in california oregon texas and washington as well as 15 la petite boulangerie bakeries in seattle
current soviet interest in chartering ships to carry grain from the us helped prompt the rumours on world markets
it said each right entitles holders to purchase a unit of 1 100 of a share of newly authorizes series a participating preferred at 75 dlrs per unit
details of the issue will be announced later and it will be listed in the official bulletin balo of march 9
group reconsiders computer memories cmin bid
taiwans reserves have resulted largely from its trade surplus which hit 156 billion dlrs in 1986 and 106 billion in 1985
the world bank is expected to approve a 310 mln dlr economic recovery loan for the philippines at a meeting of its executive board today in washington central bank sources said
susin suratanakaweekul president of the thai coffee exporters association told that thailand obtained little benefit from previous ico quotas which represented only about 30 pct of its total annual exports
s and p said afgs appetite for substantial acquisitions is aggressive
february volume at the chicago board of trade cbt declined 14 pct from the year ago month to 8191266 contracts the exchange said
nationwide life insurance co earned 628 mln dlrs in 1985 with last years profit including record capital gains of 144 mln dlrs up from gains of 26 mln dlrs the previous year
blizzard closes bosphorus
jardine gained a direct holding of 35 pct of dairy farm as a result of the spin off
finlands current account in deficit in 1st qtr
united overseas bank ltd uobmsi year
parliament passed laws increasing the amounts and frequency of treasury bill issues and allowing the government to raise up to 35 billion dlrs through issues of registered stock bearer bonds and book entry securities
the pound finished trading here today at 16040 50 dlrs and 29210 45 marks
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
even the us trade position has begun to feel the impact although so far it has not been very strong he said
the ecuadorean crude reaching tumaco will be shipped by boat to ecuador for refining into oil products to meet domestic demand
japan is the largest customer for us farm products and it is not reasonable for the us to demand japan liberalise its farm import market he said
general motors acceptance corp canada is issuing a 100 mln canadian dlr eurobond due october 15 1992 paying 8 1 2 pct and priced at 101 1 2 pct lead manager union bank of switzerland securities ltd said
greece replying to a warning from turkey that it will stop athens from seeking oil in the aegean sea repeated today that it has an exclusive right to decide where or when to drill in the area
asked if he thought allied lyons is vulnerable to other take over attempts holden brown replied no i dont we must never be complacent and we must always be very watchful but i think we would be very expensive he said
analysts say that fed tightening now could choke off the current modest economic expansion and threaten a recession
the ruling gatt council set up a formal dispute panel to examine a us complaint that a canadian law prohibiting export of unprocessed herring and salmon was discriminatory
the senate has passed a bill providing for a 75 billion dlr recapitalization for fslic
president reagan said he would veto a house passed trade bill requiring mandatory retaliation for unfair trade if it reached its desk in its present form
latest attack seen pointing up dilemmas for us
more british gold articles hallmarked
norwegian imports from south africa are limited mainly to high grade manganese and coppernickle ores used in it ferro alloys and light metals industries
gardner noted that the terms of the merger agreement in which the company would bought out by a group of its managers and ef hutton lbo inc bar directors from taking action to solicit initiate or encourage acquisition proposals
that gives deficiency payments to farmers if corn prices stay low
nicolls said he expected the dollar to go as high as 06875 and perhaps to 69 cents tomorrow
baltek bteko buys ecuadorian plant
metropolitan said it already has an option to buy another 42750 metex common shares at 1125 dlrs each
the bonds will be listed in london and will be issued in denominations of 1000 and 5000 stg
sebaana kizito said at the time that the payments squeeze would be resolved in two weeks
carling okeefe ckb sells oil unit takes gain
he expected margins to continue generally positive over the summer although they could dip to become negative from time to time depending on price movements
first federal charleston ffch names new ceo
pier 1 said there are currently 191 million shares of common stock and 960000 shares of 25 cts preferred stock outstanding
the resolution was expected to pass without controversy today in the house foreign affairs committee before the full house was to take up the bill
the frame has fewer parts than conventional steel frames ford said
but for high cost producers 0 92 would be more attractive
the alumina refinery owned jointly by suralco and billiton nv a royal dutch shell subsidiary was reopened march 9
conflicting economic indicators from the us have also been dampening market activity he added
glatfelter a printing and writing paper maker said ecusta operates an uncoded three sheet and light weight specialty paper mill in pisgah forest nc the mill produces and converts paper products used by the doemstic and foreign tobacco industry
production from these idled acres would be equivalent to 40 mln bushels of wheat 180 mln bushels of corn 20 mln bushels of sorghum 10 mln bushels of barley and 500000 bales of cotton the report said
the acquisition is the latest in a series by santos as part of a program to expand from its origins in the south australian cooper basin
kirschner medical corp said it completed the acquisition of minnesota mining and manufacturings mmm orthopedic metal implant line division
following the raid a okesman for tehrans war information headquarters vowed to avenge the attack with a crushing blow the united states has entered a swamp from which it can in no way get out safely tehran radio quoted him as saying
citibanks initial step last month was to set some three billion dlrs in a general reserve for potential losses on loans to developing countries
hoechst acquired a majority of celanese shares in a recent tender offer at 245 dlrs per common share
mannesmann ag mmwgf the diversified engineering and pipe making group is interested in taking a stake in a us company or companies but has not yet found a suitable firm a spokesman said in reply to questions
coca cola spokesman said rumors coke seeking takeover of wendys are not correct
the units sold were sunbeam corp ltd australia sunbeam new zealand ltd and victa uk ltd
newmont doubled its ownership in peabody in january by purchasing 3074 pct interest held by the williams cos for 320 mln dlrs
chelsea industries inc said earnings for its fiscal second quarter ended march 30 will be sharply lower than the 1414000 dlrs or 55 cts a share it earned for the same quarter last year
apart from the present disruption bankers and company officials said the mexican debt equity scheme has been a huge success
citicorp has estimated its profits for the first quarter would be cut by 50 mln dlrs if it put brazil on a cash basis
house panel wants pentagon manage us stockpile
european currency markets reacted quietly to the g 7 communique with comments from bankers and dealers ranging from disappointment that it was not more concrete to surprise that the markets should have expected so much
moodys will assess the effect of the proposed transaction on chryslers capital structure
crude oil netbacks up in us mediterranean
diplomats see the greatest potential danger in more attacks on soft targets such as merchant shipping not protected by american or other western navy vessels patrolling the gulf
san francisco not region hurt by restructuring
scrap consumption increased to 31100 tons in january from 24900 tons in december
monoclonal antibodies inc said it signed an agreement in principle to buy genesis labs inc for about 10 mln dlrs of common stock
machline president of the sharp electronics group and a personal friend of sarneys told television reporters outside his farm that he wanted less government participation in the economy when the government announced a month ago that it was suspending interest payments on brazils 68 billion dlr debt to commercial banks it said this was a means of ensuring growth and avoiding recession
bank of finland governor rolf kullberg told a news conference the bank will also limit credits on the call money market from march 30 1987 by introducing a maximum credit amount and a penalty rate if banks exceed this ceiling
it gave no financial details of the transaction
the final agreement should be signed this year when kkk forms the new company alfa k technology he said
the asa also strongly opposes an ec proposal to tax vegetable and marine oils consumed in the ec which will be considered by the ec commission in december
he said allis chalmers was selling out because it needed new cash after suffering big losses in its farm equipment operation
house trade lawmakers took their first votes on measures designed to toughen us trade laws but held over until tomorrow the most difficult votes on controversial plans to protect american industries
rha told in an interview the current trade mission is looking for 20 billion dlrs in purchases from us companies about a quarter of which represents transferred purchases from japanese sources rha said the items being sought by the current mission are mainly chemicals machinery and parts he said south korea is the fourth largest importer of us agricultural products
the officer said heavy frosts at night followed by sunshine during the day led to some heaving particularly for well developed plants and for winter barley
the amount will be set at tender on monday march 9 between 0800 and 0830 gmt
todays rate was reduced to 027939 73 to the dollar from 027758 92 on wednesday before the four day bank holiday that celebrated the end of the fasting month of ramadan
there is no doubt they could be used to target shipping across the strait of hormuz
each warrant entitles the holder to exchange 500 dlrs for stg at a rate of 160 stg dlr and the minimum number of warrants exercisable or tradeable is 100
us banks likely to lift prime rates again soon
the sec is urging the appeals court to reverse the decision citing its nearly 50 year old position that undisclosed excessive mark ups by securities dealers violate the general antifraud provisions of securities laws
usda announces world market rice prices
northern indiana public service company said it again omitted its quarterly common stock dividend which would have been payable in may
an independent finance company on the other hand must operate within more stringent guidelines than a unit and is at a competitive disadvantage s and p said
the bank said the loan will be used to boost production by injecting gas in the partially depleted assam oil fields and to assist exploration in other areas including drilling 10 exploratory wells
nippon steel corp nstct and inland steel co of the us are negotiating to set up a joint steel venture in indiana a nippon steel spokesman said declining to give more details
german net currency reserves fall 54 billion marks to 817 billion bundesbank
china has 521 sugar mills
chang declined to predict how high the reserves might rise but local economists have forecast they will hit 60 billion us dlrs by the end of 1987
but for comparison purposes it noted that in january the average value of imports had fallen 15 pct year on year while the average value of exports had declined by only 44 pct
amsterdam is the third dutch municipality to use a commercial paper program as credit facility
morgan said it assumes talks between brazil and commercial bank lenders will proceed expeditiously and interest payments will resume at the earliest practicable date
sweden in a similar move last week promised to halt all trade with south africa by october
fed expected to set customer repurchases
us corn sales of just over 10 mln tonnes in the week ended april 2 were eight pct above the prior week but 25 pct below the four week average the us agriculture department said
the problems of one country are also those of the rest so we should all work together to help solve them goria said
the researchers said in the new england journal of medicine that their procedure promises to be a rapid sensitive and reliable method for the prenatal diagnosis of sickle cell disease in addition they said the technique might also be adapted to detect other types of genetic disease
spar sees sees strong five year growth
the tender had called for a single cargo of prompt and two to three cargoes of april may
big b inc bigb 4th qtr jan 31 net
lorimar telepictures lt executives resign
one convertible dealer said were waiting to see the result of todays court hearing texaco is applying today in the texas courts for relief from having to post the court bond
buying will begin once the buffer stock manager has completed preparations traders said
uk chancellor forecast in budget speech gdp growth of 30 pct in 1987
china closes second round of offshore oil bids
div pay may 1
taiwan sees its investment in us rising sharply
rodman and renshaw capital group inc said its directors approved the repurchase of up to 200000 shares of the companys common stock on the open market from time to time
western canada hurt by international forces
a miti official said the ministry was not planning to call for production cuts beyond those already sought although it would continue to press chip users to buy more foreign goods
sterling surged on foreign exchange markets and money market interest rates moved sharply lower as news of the budget measures came through the analysts said
neither the trade nor current account figures are seasonally adjusted
usair offered 71 dlrs cash per share for half of piedmont stock and 73 dlrs per share in stock for the balance
at that point barring any increased tension in the gulf or changes in opecs policies prices should begin easing
as the tonnage required under cargo preference goes up its going to be harder and harder to meet kay said
proceeds will be used for general corporate purposes
french farmers are planning to cut their maize sowings by between 100000 and 150000 hectares this year from the 187 mln ha harvested in 1986 the french maize producers association agpm said
the survey conducted in february was based on questionnaires returned by 8328 large and small firms in all sectors except the finance and insurance industries
shr 41 cts vs 17 cts net 8824000 vs 4555000 revs 3019 mln vs 1964 mln avg shrs 17644000 vs 16085000
but there may be shareholder lawsuits for the same reason they said
community bank system inc said it has entered into a definitive agreement to acquire nichols community bank for 2800000 dlrs in common stock
it said lower oil exports cut the gcc states combined trade surplus to 18 billion dlrs in 1986 from 215 billion in 1985
sekisui chemical co ltd is issuing a 200 mln dlr equity warrant bond due may 7 1992 paying an indicated coupon of two pct and priced at par lead manager yamaichi international europe ltd said
of the total exports fell 105 pct to a rounded 210000 but domestic sales increased to a rounded 154000 from 137180 in 1985
they have some natural legitimate self interest in seeing that the program is preserved huckaby said
1986 net includes pretax gains on sale of property of 2330000 dlrs in quarter and 245 mln dlrs in year
swedish mining and metals group boliden ab bldsst said the takeover of the us allis chalmers corps aho mining machinery division made it the worlds leading maker of such equipment
peter miller plans 22 mln dlr debenture issue
oesterreichische laenderbank ag olbvvi expects to maintain its dividend and to record a moderate rise in profits this year after the 1815 mln schilling net profit made in 1986 general director gerhard wagner said
in view of the lower quality over recent weeks farmers have sold a good part of their cocoa held on consignment
pennzoil also wanted assurances that texaco would not sell any assets kinnear said
in addition the measure would require usda to make full payment to farmers eligible for emergency assistance approved by congress last fall
the usda is due to release planting intentions figures march 31
in 1986 it reported revenue of 55 mln canadian dlrs with a pretax loss of 16 mln compared with a 19 mln profit in 1985
it noted that the purchase of ae involved the payment of some 125 mln stg cash as well as taking on aes own borrowings of some 85 mln stg
the payment date is may 11
blackburn said that we are in talks about coal operations but i cannot discuss this further at this time he said the company would have a debt to capital ratio of about 38 pct which could be paid down over time
tomorrows topics include savings and investment issues such as consumer credit and housing and the implications of government budget deficits
butler manufacturing co said it signed a letter of intent to purchase naturalite inc a designer of skylights
the company said it expects to complete the merger by june 17
lord plumb european parliament president and a speaker at the conference said the ec expanded oilseed production in 1973 when the us halted overseas sales of soy products
the dollar reacted immediately to the news rising over two pfennigs in after hours new york trading dealers there said
the latter stock is free of tax to residents abroad fotra the bonds will be available to the uk government bond market from monday at certified prices of 11300 stg pct for the 2 1 2s of 2011 and 85 24 32 stg pct for the 2 1 2s of 2024
but if west germany raises interest rates this would run counter to the pledge he said
shr 75 cts vs 67 cts qtly div 28 cts vs 25 cts prior net 468 mln vs 398 mln avg shrs 603 mln vs 577 mln nine mths shr 173 dlrs vs 195 dlrs net 1083 mln vs 1147 mln avg shrs 599 mln vs 568 mln note 1987 nine mths net includes special 15 mln dlr loan loss provision
the dollar steadied at around 60650 0700 francs after easing in early trading to 60615 35 from an opening 60700 50
it said their purpose was seen as a signal iran was ready to continue and perhaps step up the gulf shipping war against iraq
ropak corp said it received and accepted about 456968 common shares and 527035 series a convertible preferred shares of buckhorn inc at four dlrs and 575 dlrs each respectively in response to its tender offer that expired friday and it now owns 344 pct of buckhorn voting power
as long as brazil sticks to its position there will not be quotas there is no point in meeting at the last council meeting brazil wanted to maintain its previous quota share of around 30 pct of the market
soil moisture is better in the north central and peace areas the wheat pool said
marcove and gerald m
it said benjamin w
the total beet area in the european community is forecast to fall two pct to 185 mln ha against 189 mln in 1986
cxr cxrlo torotel trtlo to settle suit
previously only residents of guangdong and fujian provinces could do this
the offer was for 45 dlrs in cash securities with a face value of 70 dlrs and a contingent payment certificate that would pay out as much as 70 dlrs over a 20 year period for each share of holly sugar outstanding
sudan burdened by a foreign debt of 106 billion dlrs is some 500 mln dlrs in arrears to the imf which declared it ineligible for fresh loans in february last year
maturities on the certificates will be between seven and 365 days
the transaction is guaranteed by chrysler finance corp
shr profit one ct vs loss nine cts net profit 177061 vs loss 1364878 revs 5913334 vs 487121 avg shrs 186 mln vs 159 mln
the experts gathering ahead of an itto meeting of consumers and producers near tokyo next week said the problem is already acute
the meeting had been arranged last week the spokesman said
april shipments traded down to 326 dlrs per tonne fob
the balance will be used in 1988
as rumors circulated through grain markets today that the soviet union has purchased an additional 15 mln tonnes of us corn industry and government sources noted a number of factors that make soviet buying of us corn likely
the us west german squabble over bonns monetary policy should thus be regarded as a process of healthy policy coordination and not as any indication of a possible collapse of the louvre agreement the official said
slater industries inc said it planned a 15 mln dlr modernization of its slater steels corp fort wayne specialty bar division in indiana
marc mathieu of societe anonyme de telecommunications sat told journalists the bid foresaw a direct stake of 20 pct for apt the joint firm set up by the us s att tn and the nv philips gloeilampenfabrieken pgloas the other 80 pct would be owned by a holding company made up of sat apt cie du midi mcdppa and five mutual funds
new zealands current account deficit narrowed to 78 mln dlrs in february from 93 mln in january and 233 mln in february 1986 in a smoothed seasonally adjusted measurement the statistics department said
the managing director of the international monetary fund also participated in the meeting
under the january contract aramco was to purchase 134 mln bpd for the four partners allocated among them as exxon corp xon 440000 bpd texaco inc tx 350000 bpd mobil corp mob and chevron corp chv 550000 bpd between them
he did not rule out a stake increase later but said siemens aim was to introduce its technology
pirelli uk int finance issues 50 mln stg eurobond
tech data corp tecd 4th qtr ends jan 31 net
only about 2000 acres are affected by the disease which causes leaves to fall off de mel said
ccr video cccro in talks on being acquired
he disclosed that his country the worlds biggest cocoa producer and the third largest for coffee would spearhead an african initiative to reach a compromise formula by the end of next month
prior year figures include income from discontinued operations of 164000 dlrs or two cts per share gain on disposal of discontinued operation of 39 mln dlrs or 54 cts per share and operating loss carryforward gain of 37 mln dlrs or 48 cts per share
the belgian minister whose country presently holds the presidency of the community made clear the meeting had not produced any agreement to move radically forward in developing the ems towards the ecs long term goal of economic and monetary integration
the strength of sterling has also contributed to the recent slip in prices
if the banks do not cooperate by lending you back some of the money that you are sending abroad then of course you have an option monsod said
oper shr loss 39 cts vs profit 62 cts oper net loss 4628000 vs profit 7256000 revs 3381 mln vs 3279 mln year oper shr profit 112 dlrs vs profit 188 dlrs oper net profit 132 mln vs 222 mln revs 132 billion vs 129 billion note net excludes gains from discontinued leasing operations of 376 mln dlrs vs 403 mln dlrs in year and 326 mln dlrs vs 343 mln dlrs in quarter
because it is under fire for its human rights record the government of general augusto pinochet is unlikely to attract attention to itself by seeking to renegotiate its recent debt package which carries interest of one pct bankers said
but federal agricultural officials have already warned farmers not to depend on additional government aid this year
security pacific spc registers debt
on us markets today asa ltd asa rose 4 1 8 to 61 1 2 campbell red lake mines crk was up 1 3 8 and newmont gold ngc increased 1 1 2 to 31 1 4
this compares with a target range of 120 to 140 cents a lb under the system operating before quotas were suspended in february last year following a sharp rise in international prices caused by drought damage to the brazilian crop
he said they were unlikely to hesitate in holding interest rates steady or even raising them again if sterling showed any signs of excessive weakness
dome responded to the statement by suspending discussions with transcanada in order to pursue talks with other unidentified parties
in a conversation later with local journalists gaviria said the us attitude would have serious economic and political consequences not necessarily for a country like colombia but certainly for other latin american nations and for some african countries
the proposed boost is based on a government forecast that gross national product gnp will grow by more than 75 pct and the gnp deflator by 35 pct in 1988 against targets of 80 pct and 35 pct respectively this year they said
us weekly soybean crush 19416000 bushels
dow chemical dow to increase prices
the company said if the warrants were exercised in full they would represent a 407 pct interest in jm common stock
the group said it may raise its stake or sell some or all of it and has no plans to seek control of the company
but william johnson of the jofree corp disagreed with the oil tariff proposal saying congress should remove price controls on natural gas repeal the windfall profits tax on oil companies allow exports of alaskan oil and provide tax incentives for us oil production or at the least preserve exisiting tax incentives for drilling
that is 80 basis points more than the yield of comparable treasury paper
treasury balances at fed rose on march 23
im just saying keep it competitive
he said importers would quickly know if licences were issued
this was the same formula used in the text of the louvre accord he noted
the bundesbank declined to comment on the dealers remarks
harcourt brace has offered 220 mln dlrs for harper and row publishers moodys noted
new zealand ports reopened at 0730 hrs local time 1930 gmt march 22 after being closed since march 19 because of a strike over pay claims by watersiders a waterside federation spokesman said
one tranche is of five year 150 mln dlr bonds while the rest is of seven year 150 mln dlr bonds but other issue terms have not yet been decided
the bank of korea the central bank today fixed the won at a two year high of 84690
dart group darta is likely seeking to buy supermarkets general sgl analysts said
unadjusted february unemployment totalled 186 mln people up from 182 mln in january and 164 mln a year earlier
the rating agency cut mellons senior debt to a plus from aa and preferred stock to a from aa minus
he predicted that the us chemical industry which reported a total of 13 billion dlrs in 1986 profits would see a 20 pct gain in earnings this year because of increasing exports cheaper feedstock costs and the weakened us dlr
republican bill frenzel of michigan said the subcommittees bill was not one that a free trader like me could endorse in all respects but he emphasized there was a consensus among trade lawmakers to work toward a bill reagan and republicans would ultimately endorse
the ten principal destinations during january november 1986 with comparative figures for the same 1985 period in brackets were in tonnes holland 201660 204391 iran 182042 181228 soviet union 163150 266389 egypt 158119 159350 algeria 116330 11492 brazil 101116 59430 south africa 94700 101062 cuba 89957 98740 united states 80109 nil india 67182 17403 the board added
rogers rog adopts rights plan
wedge in a filing with the securities and exchange commission said it believes a restructuring of american medical and its business would be highly desirable and appropriate at this time thats the sort of position that i find a large segment of shareholders of ami really share said pesch
a lot of winterkill could occur during the next month and a half martell said
it said amselco will retain a majority interest in the project
key to the near term direction of futures will be the course of the dollar they said
the agency said the stock would have to be held in a voting trust controlled by an independent trustee
eia says distillate stocks off 34 mln bbls gasoline off 100000 crude up 32 mln
credit national is issuing a one billion franc convertible bond issue in two tranches both paying 850 pct and in 5000 franc units lead managers caisse nationale de credit agricole union de garantie et de placement and morgan et cie said
additionally twa said it would need a satisfactory due diligence review of usair
japan wants to resolve the issue through consultations by explaining its stance thoroughly and correcting the points that need to be corrected he was quoted by kyodo news service as saying
shr 26 cts vs 21 cts net 5553000 vs 4307000 revs 451 mln vs 342 mln year shr 86 cts vs 67 cts net 182 mln vs 140 mln revs 1611 mln vs 1183 mln note share adjusted for stock dividends
another diplomat said willingness to provide such voluntary export restraints would be an important issue in bilateral trade issues and in pekings application to gatt
concern about the nics is not confined to the us a lot of korea and taiwans exports to the us have been at japans expense said richard koss at general motors corp
but there are other considerations such as relationship he admitted his bank has joined as co manager
the sources said the two fold jump in exports last week appeared to be the result of buyers rushing to lift february entitlements before the month end
the following proposed securities offerings were filed recently with the securities and exchange commission intermark inc imi offering of 40 mln dlrs of convertible subordinated debentures due 2007 through drexel burnham lambert inc
houston said representative assays from the 2750 ft and 2600 ft levels at the south end of the mine established ore deposits in the following ranges copper 37 pct to 508 pct lead 99 pct to 15 pct zinc six pct to 96 pct silver 1563 pct to 7992 oz per ton gold 062 to 19 oz per ton germanium 93 to 103 grams per ton gallium five to 18 grams per ton
but the move also means that the company is not likely to increase its dividend for perhaps as long as three years said mark luftig an analyst at salomon brothers inc
the firm said it now plans to offer 150 mln dlrs of convertible subordinated debentures in the eurodollar market
ione inc six months march 31 net
royal bank said first quarter international net interest income declined from last year reflecting reduced revenues from international investment banking as well as a significant loss on disposal of its affiliate in trinidad and tobago
earnings totaled 57 mln dlrs on revenue of 3984 mln dlrs
oper shr 105 dlr vs 51 cts oper net 141 mln vs 5669000 revs 1632 mln vs 1332 mln avg shrs 135 mln vs 115 mln year oper shr 65 cts vs 26 cts oper net 8664000 vs 1906000 revs 2878 mln vs 251 mln avg shrs 134 mln vs 8403562 note prior year 4th qtr and year oper net excludes 131 mln dlrs and 174 mln dlrs respectively for income from discontinued operations
the two allied units operate and are developing cogeneration projects and small petroleum coke fueled power plants
renouf pointed out this exceeds the minimum number sought in the offer but its statement gave no reason for the extention
earlier bank of new england reported first quarter net income not taking the merger into account rose to 104 dlrs from 83 cts a share
as part of its restructuring plan gelco had announced that it would sell four business units
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
sen
atlas said negotiations were continuing on the acquisition by bond of the companys existing bank loans and their restructuring into a gold loan
the following proposed securities offerings were filed recently with the securities and exchange commission mead corp mea shelf offering of up to 150 mln dlrs of debt securities including debentures and notes
duncan squire of lloyds merchant bank said the figures were slightly disappointing in that the strengthening of sterling had not yet reduced input prices as much as expected
here too acres some farmers may have been thinking of shifting to soybeans will now be planted with oats due to the more attractive deal from the government they added
du plessis said available foreign reserves of the reserve bank which increased by about 800 mln dlrs in the past two months and a continued current account surplus will be sufficient to meet terms of the new interim debt agreement
a bank official said m 3 rose 972 pct to a provisional 14980 billion pesos at the end of december from a month earlier for a year on year gain of 1272 pct
healthmate hmte expects qualified opinion
knight ridder inc kri said its tkr cable co joint venture with tele communications inc has signed a letter of intent to acquire cable television systems with 55000 basic subscribers in wildwood nj and ramapo and warwick ny from tele communications for undisclosed terms
something will be done at the g 5 and g 7 meeting to calm people said david horner of merrill lynch economics
a spokesman for jardine matheson holdings ltd jardhk said he could neither confirm nor deny a newspaper report which said jardine was thinking of moving its listed property subsidiary hongkong land ltd to bermuda
for 1986 niagara mohawks earnings per share fell to 271 dlrs from 288 dlrs in 1985 the company said earnings reduced primarily as a result of a reduction early in 1986 in earnings return on equity allowed by the ny state public service commission
tax 445 mln vs 465 mln
the sunday times quoted a letter sent yesterday to president corazon aquino from ariadnes chairman new zealander bruce judge that he was offering cash equivalent to five pct of the nations yearly budget to buy the shares from the government
1987 results reflect the tbs merger agreement and operations of the company as independent agent
ecuador will ask opec to raise its oil export quota by 100000 barrels per day to 310000 to compensate for lost output due to last weeks earthquake deputy energy minister fernando santos alvite said
french employers chief sees hope for growth
he did not give details but said it is a very useful alternative and in the end will permit the banks to say that they achieved their pricing target and will likewise permit the philippines to say exactly the same thing quoting negotiation documents to be presented to the countrys 12 bank advisory committee business day said the debt certificates will carry maturities of five or six years
smith and nephew comvertible increased fixed
parent turnover comprised domestic sales 647 billion vs 684 billion foreign sales 762 billion vs 851 billion
chief executive giorgio ghiringhelli told reporters he expected almost all important sectors to expand well in 1987
ec sugar tender seen as further concession
sibson defended the new rules saying we have to steer a course between representing the interests of the major market makers and the less desirable goal of representing everybody in any event he said the size of the market has expanded to the point where the former minimum size requirements were just too small
net also includes extraordinary loss from early retirement of debt of 303000 dlrs for year ago 12 mths
the ruf may serve as medium term back up to the commerical paper program although the two may be used simultaneously merrill said
genova gnva to merge into genova products
we need a stock index futures contract and a futures contract for recent government bonds one dealer said
it said holders of 80 pct of the units may request one registration by the company kof the underlying common shares any time after jan 15 1988
i am not sure we can wait until late april he added
berisford plc
shr loss 697 dlrs vs profit 92 cts net loss 240 mln vs profit 316 mln revs 19 billion vs 25 billion note 1986 includes loss of 250 mln dlrs or 727 dlrs a share from discontinued operations and writedowns of holdings in texasgulf inc
australian current account deficit seen narrowing
substantial progress has been made in talks and we will now have to define more precisely what projects can be financed from foreign borrowing he said adding that loans for steel and aluminium and iron ore sectors could be the first to materialise
a us appeals court last night blocked the 860 mln dlr merger of delta airlines inc daln and western airlines just hours before it was to go into effect because of a dispute over union representation
the dollar fell to 15235 40 yen from 15335 40 last night
also the agency cut to bbb minus and a 3 from bbb plus and a 2 respectively cds and issues supported by letters of credit from the units mbank dallas and mbank houston
brokers and unit trust managers said the recent surge in economic confidence under the psd rule was still largely underpinned by continuing optimistic forecasts
the council said in a statement the industry was bitterly disappointed by the australian governments position on taxation as presented in a speech by resources and energy minister gareth evans to the apea conference
chang chi cheng said the central bank could not stop buying us dollars because of heavy sales by local exporters who fear the strong local dollar will cause them exchange losses
oper shr loss 123 dlrs vs loss 5750 dlrs oper net loss 17154000 vs loss 26953000 avg shrs 13914000 vs 476000 nine mths oper shr loss 1274 dlrs vs loss 7694 dlrs oper net loss 63774000 vs loss 35207000 avg shrs 5005000 vs 474000 assets 7853 mln vs 127 billion deposits 6256 mln vs 9388 mln loans 5656 mln vs 8269 mln note july 17 1987 company completed recapitalization with injection of 200 mln dlrs in cash 150 mln from the federal deposit insurance corp and 50 mln dlrs raised through a stock rights offering
ec ministers have approved financial packages for several mediterranean states totalling 16 billion european currency units an ec official said
an investor group led by dart container corp a sarasota fla plastic utensil maker told the securities and exchange commission it raised its stake in texstyrene corp to 420500 common shares or 117 of the total outstanding
new prices are lpg 360 cents gallon chemical naphtha 47 unleaded reformate 658 04 gm lead 97 octane 613 95 octane 593 92 octane 555 85 octane 495 0125 gm lead 97 octane 643 92 octane 585 85 octane 525 jet kerosene 515 kerosene 505 premium kerosene 545 dual purpose kerosene 525 05 pct sulphur gas oil 520 one pct sulphur 510 and marine diesel oil 2120 dlrs barrel
fleet said it will seek to have the connecticut law amended to allow it to retain first connecticut which is based in hartford
in a discussion of steel results usx said plants that were shut down last month and some previously idled plants may be permanently closed
for the week ended march 13 api reported gasoline stocks down 29 mln barrels
subroto said the government was also working to ease other problems including granting easier terms for remote areas or deep water conditions
miyazawa told an upper house session the six nations britain canada france japan the us and west germany are abiding by the paris accord
the bonds pay 7 1 2 pct and were priced at par
daily telegraph chief executive andrew knight told reporters after the meeting that the telegraphs daily circulation had risen by 25000 since september to about 1150000 on weekdays despite added competition from the new independent daily newspaper
bankers said commercial lending rates were set to rise in any case with the end of the six pct maximium interest rate banks can offer for time deposits of up to six months
the conversion premium is indicated at 17 to 22 pct
mas said interbank lending fell in january to 1409 billion dlrs from 1466 billion in december but rose from 1020 billion in january 1986 and interbank deposits to 1540 billion against 1594 and 1171 billion respectively
1985 4th qtr includes gain of 178000 dlrs for exchange of telephone inventory for barter credits
s african reserve bank says growth rate on target
pricing will be fixed next week
this will take the companys capital to 6776 mln francs from the present 242 mln
in the earlier deal with southland pdvsa agredd to to supply citgo with at least 130000 bpd of crude oil and other feedstocks
britain has reaped profits by using a stronger pound to buy back dollars used by the government last autumn to support sterling during a currency crisis chancellor of the exchequer nigel lawson said
donald keithley vice president dealer services for jd power a california based market research firm says that by 1990 12000 people will own dealerships compared to 16800 principal owners today
we have less corn and soybeans than we thought we had he said noting that hog and poultry production is up
commerce and planning minister mahbubul haq said in a televised speech it was also decided to allow duty free import of cotton yarn
the nasd had alleged that no registration statement for the shares was in effect
daily average reserve holdings rose slightly to 547 billion marks from 545 billion
renault renapa yr ended dec 31 1986
the issue is open with immediate effect and will close when fully subscribed the statement said
periods ended feb 28 shr 22 cts vs 30 cts net 549000 vs 747000 sales 84 mln vs nine mln avg shrs 2550784 vs 2468964 nine mths shr 69 cts vs 63 cts net 1749000 vs 1554000 sales 236 mln vs 213 mln avg shrs 2543711 vs 2453520
swiss capital exports rose to 464 billion francs in january after 254 billion in december and a year earlier 364 billion the swiss national bank said
the saudis had put similar conditions on a previous shipment he added
the company attributed the lower earnings to narrowing profit margins on stretch film
shr 123 dlrs vs 133 dlrs semi annual div six cts vs six cts prior payment net 162 mln vs 148 mln sales 109 billion vs 9094 mln note dividend is payable april one to holders of record march nine
final test inc fnlt 4th qtr loss
to add to that the us soybean association is spending billions of dollars to discredit palm oil and coconut oil by saying that they are polysaturated fats and bad for the heart he said
he says the boost in production came from smaller industries like paper chemicals and lumber which have improved sales overseas due to the drop in the dollar
viermetz said it was only natural that markets should attempt to test the credibility of the paris accord struck when the dollar was trading at about 183 marks and 15250 yen
lesley nickolds of county securities asia ltd said she saw no major shipping writeoffs in 1986
kiena plans two for one stock split
the requests were limited to alaskan entities because the purpose of privatization of the administration was to put the local utility into the hands of a local body the doe said
william reynolds was not interested in sitting down and talking with us at this time cyril wagner sought the meeting in a recent telephone conversation with reynolds reed said
industry analysts had speculated that att might cut its common dividend especially after the company posted a fourth quarter net loss of 117 billion dlrs and earned only five cts a share for the full year
so far this year distillate demand rose 01 pct to 331 mln bpd from 330 mln in 1986 gasoline demand was 660 mln bpd up 01 pct from 659 mln and residual fuel demand fell 04 pct to 142 mln bpd from 143 mln the eia said
baldwin piano bpao files secondary offering
under the agreement the companies said continental will acquire general tire including its related domestic and foreign operations and gencorp will retain liability for the medical benefits of retired general tire employees who retired on or before november 30 1984
dickey and three dixons executives vice chairman and financial director egon von greyerz corporate finance director gerald mn corbett and secretary jeoffrey budd
oper shr loss two cts vs profit seven cts oper shr profit 442000 vs profit 2986000 revs 2918 mln vs 1511 mln avg shrs 517 mln vs 434 mln six mths oper shr profit nil vs profit 12 cts oper net profit 3376000 vs profit 5086000 revs 5693 mln vs 2985 mln avg shrs 516 mln vs 411 mln note per shr calculated after payment of preferred dividends
levon resources said the revised zone two assays compared to previously reported averages of 0545 ounces of gold a ton
bundesbank calls for central bank cooperation
south koreas wholesale price index base 1980 rose 02 pct to 1251 in march after a 02 pct rise in february but was 06 pct lower than its march 1986 level the bank of korea said
shr 13 cts vs seven cts net 1487000 vs 778000 sales 644 mln vs 583 mln nine mths shr 66 cts vs 55 cts net 7388000 vs 6127000 sales 2230 mln vs 2222 mln note 1987 quarter and nine month earnings includes a gain on sale of idle facilities of 406000 dlrs or four cts a share 1986 nine months earnings include gain on sale of idle facilities of 377000 dlrs or three cts a share
an increase in reed shares in london today was attributed by brokers to rumors of harcourts interest and also to rumors that maxwell might be a buyer
ipswich is one of 13 sugar factories operated by british sugar
south korea moves to slow growth of trade surplus
middle south msu unit plans to retire debt
however some traders believe these figures are overstated and while some may still be held on the farm the bulk of wheat is already sold
comalco says lower costs helped return to profits
the company also said none of the material was discharged within 12 miles of the closest shoreline
corrects mame of purchaser
yugoslavias balance of payments surplus with the convertible currency area fell to 245 mln dlrs in 1986 from 344 mln in 1985
entex energy development ltd eed sets payout
but if average consumer prices are higher than 1986 the rate of growth for these fuels may be below last years 36 pct it said
elders halves note facility amount amends terms
argentine minister to seek release of loans
the notes are non callable for seven years
chinas first joint venture bank xiamen international bank xib reported a group net profit of about 14 mln hong kong dlrs in 1986 the banks first full year of operation
construction of the 400 room hotel will start after the loan is signed
the main reason for the expected increase in beet sowings is that returns from competing crops such as soybeans and grains are just awful said carter
the bank of italy will request banks to insert rules in their statutes to ensure that companies or individuals holding five pct or more of the banks capital are not given privileged treatment with regard to credit allocation and terms
nordbanken had to make a provision against a 200 mln crown loan to el sayed in its 1986 results
kebo is in turn 60 pct owned by investment ab beijar of sweden
douglas computer international year net
beard co bec year loss
other central banks were likely to follow suit causing a recession that could aggravate the debt crisis of developing countries as well as increase protectionism around the world
speaking to a business conference he said it is not brazil that has to make adjustments with the imf international monetary fund it is the international financial community that is taking away resources from the developing countries the crisis is not in brazil a country that has had the third biggest trade surplus in the past two years brazil had remitted 24 billion dlrs in debt servicing and received only two billion in fresh funds he added
shr loss 694 dlrs vs loss two cts net loss 220 billion vs profit 70 mln revs 155 billion vs 244 billion note 1986 shr and net include writedowns totalling 208 billion dlrs before a reduction in deferred income taxes of 571 mln dlrs
carole ryavec an analyst at salomon brothers asia ltd said the major overall issue is to stimulate the domestic economy and move away from an export dependent economy
a 600 mln franc tranche of 5000 franc bonds will carry interest of nine pct in the first year and then will have interest based on 90 pct of average bond market yields tmo with a guaranteed minimum of 55 pct
shr 69 cts vs 62 cts net 4401000 vs 3808000 nine mths shr 199 dlrs vs 177 dlrs net 126 mln vs 108 mln
krupp says 2000 steel jobs to go this year
shr profit eight cts vs loss 16 cts net profit 153000 vs loss 310000 sales 3937000 vs 2364000 nine mths shr profit five cts vs loss 53 cts net profit 97000 vs loss 1042000 sales 102 mln vs 7564000
macyro group myom buys companies
the iranian news agency irna said on sunday iran had seized seven kuwaiti speed boats and detained their crew who confessed to spying for iraq under the cover of fishing
moodys said marathon oil cos recent establishment of up to one billion dlrs in production payment facilities on its prolific yates field has significant negative implications for usxs unsecured creditors
the spokesman also said he believed that the intermediary had been apprehended by police
norway central bank sells crowns to ease upward pressure on currency dealers
net profit per share corrected for a share issue and stock split was 392 guilders in 1986 against 328 and dividend 155 guilders per nominal five guilder share against 130 guilders
fair lanes inc said its shareholders approved the previously announced merger with maricorp inc a unit of northern pacific corp under terms of the merger fair lanes said each of its shares of common stock will be converted into the right to receive 13043 shares of btr realty inc which is owned by fair lines
invacare ivcr expects higher 1987 sales
pretax profits also dipped to 6017 mln stg after 6144 mln
the debentures are convertible into the companys common stock at 32625 dlrs a share representing a premium of 2311 pct over the stock price when terms on the debt were set
waxman waxm sells convertible debentures
calfed inc cal 3rd qtr net
mem co inc mem declares qtly div
clearly theyve not been implemented yet no one expects implementation within a week or two he said
british french ministers discuss public spending
ministers also issued a statement saying they were disturbed by moves in the us to limit imports of textiles and warned that the community would react to any such moves
ssmc inc said it has executed a letter of understanding to acquire the parts catalog division of cutters exchange inc for an undisclosed amount
several of those ministers criticised the ec for what they saw as restrictive agricultural trade practices and called for urgent reforms
we do not believe the dollar will revalue the economic fundamentals are for it to slip away if anything he said
oteiba said stabilization of the oil market in the future depended on how much discipline opec showed
the company said the change in the japanese arrangement will give ajinomoto full equity ownership while leaving cpc a continuing earnings stream and cash flow
thermo electron tmo considers unit stake sale
shr 14 cts vs six cts net 653561 vs 251955 revs 4143056 vs 2199238
in a filing with the securities and exchange commission southeastern a memphis tenn
businessman has 89 pct of del e
two us bancorp usbc units merge
the risk at the moment is not commensurate with the possible gain icco producer and consumer delegates this morning accepted the outlines of a compromise proposal on buffer stock rules as a basis for further negotiation
the framework for the transfers was signed yesterday by ec farm ministers after being agreed in principle by foreign ministers earlier
the acquisition is expected in the third quarter of 1987 and is subject to regulatory and shareholder approvals
he also said fujitsu executives remain enthusiastic about a link with fairchild
the price of gold bullion is likely to rise in the second half of the year on increased private investor demand west german analysts said
indonesia has minimised the economic impact of falling oil prices kept inflation within limits and boosted exports finance minister radius prawiro said
and each bank using its own model put the implicit volatility needed for its own issue at close to 25 pct
this years version called the foreign agricultural investment reform fair act would require the us to vote against loans designed to increase production of surplus commodities and minerals
the five year deal pays 4 3 8 pct and features a put and call option at par after four years
balances in tax and loan note accounts fell to 9828 billion dlrs from 11418 billion dlrs on the same respective days
the figures confirm provisional data issued by the bank on march 19
manufacturing industry registered a 3 1 2 pct rise in production in february compared with january
telco systems inc said its plan to distribute a dividend of common stock purchase rights to shareholders of record on march 16 has been delayed pending the completion of necessary regulatory approvals
it earlier reported 1986 losses before extraordinary items rose to 264 mln dlrs from year ago 72 mln dlrs
end users would also buy other origins grain traders said
bernsteins sandi sweeney is recommending a group of oil service companies and said choosing among them is difficult
in addition i think we are giving some consideration to the possibility of extension into other states reuber said of harris although he added that any such move was unlikely this year
a spokesman for the economics ministry in bonn said there was no political motivation behind publishing the figures on june 11 the day after the venice economic summit ends
network video inc nvid 3rd qtr feb 28 net
us farm reorganizations proving costly gao
world bank vice president praises argentine plans
the company said it is seriously considering the new offer but has also received an expression of interest for a possible merger into a fortune 500 company it did not identify that will be investigated at meetings to be held later this week
net for 1985 year includes loss from sale of securities of 315763 dlrs or eight cts a share
without last years energy price drop it rose 38 pct
bouldikian told an arab exchange dealers conference the bank would continue to take measures to defend the currency
this is the first time a japanese bank has bought a stake in a portuguese bank
it said it must also issue warrants for the purchase of three mln common shares at a price of 450 dlrs a share or 33 pct over the market price on the day before the notice of redemption whichever is greater
shr 42 cts vs 19 cts net 2903000 vs 1307000 revs 131 mln vs 8937000 avg shrs 6877360 vs 6874970 nine mths shr 98 cts vs 62 cts net 6740000 vs 4085000 revs 339 mln vs 278 mln avg shrs 6875706 vs 6605879
analysts are divided over the outcome for last week because there is uncertainty about whether throughput levels increased or decreased last week
seamen in santos brazils main port are in defiant mood
the company also said its richmond hill gold and silver deposit in the carbonate district of western south dakota has been shown by drilling to contain about 3900000 tons grading 0055 troy ounce of gold and 023 troy ounce of silver per ton
i think the price is very fair and it is much to early to speculate about ligigation he said
us export inspections in thous bushels soybeans 20349 wheat 14070 corn 21989
the bonds will be listed in london and will be issued in denominations of one mln yen
newport pharmaceuticals nwph 3rd qtr loss
western donors still backing zambia says minister
us video vvcoo first national in merger
us offers more credits for veg oil to n
shr profit 45 cts vs loss nine cts net profit 98 mln vs loss two mln revs 115 billion vs 6312 mln year shr profit 326 dlrs vs profit 318 dlrs net profit 769 mln vs profit 731 mln revs 359 billion vs 266 billion
long distance services is a very competitive business
the central bank president said he will be going next week to washington to take part in a meeting of the inter american development bank in brasilia sources linked to the presidency said brazil was preparing a new program of economic readjustment to strengthen its negotiations on its 109 billion dlr foreign debt
in manila item philippine telephone firm plans stock split please read in page 3 first para the companys profits are likely to be substantially cut inserting dropped word this replaces the companys profits are likely to be substantial
it said primitive cultivation methods labour intensity and low productivity make grain the least profitable farm commodity
it said western ranchman had sales for the year ended jan 31 1987 of about 22 mln dlrs
he said bolivias commercial bank steering committee agreed at a meeting in new york to consider the proposal but it is still unclear what proportion of the countrys creditor banks will take up the offer
cnt said quantum bought the shares by exercising 15 mln dlrs in warrants bringing its total investment in cnt to 25 mln dlrs
the treasury said that unlike the previous offer the amount had not been prefixed
in march industrial production rose by 28 pct from february
clevites stock was trading on nasdaq at 13 1 4
gencorp gained 3 1 2 to 114 today on the nyse
the newspaper quoted nfa marketing director jig tan as saying monthly corn consumption stood at about 331000 tonnes against a national stock inventory of 191732 tonnes
basf corp year net
marginal corn acreage will likely be the bulk of the acreage pulled from that area he said
bryn mawr bank corp bmtc ups dividend
a pechiney spokesman said two working groups would prepare detailed projects over the next three months
japanese firms need high output to cut unit prices for us sales that the commerce department assigns them under the pact
cacex denies brazil fcoj price rise rumours
opec within output ceiling subroto says
the agricultural stabilization and conservation service ascs has established these unit values for commodities offered from government stocks through redemption of commodity credit corporation commodity certificates effective through the next business day
the full council was meeting at 1530 gmt to discuss the compromise which was put together yesterday by icco chairman denis bra kanon
specific trade problems with other nations and will encourage flows of funds to developing countries the officials said
cheyenne said it should realized 10000 dlrs net income monthly at the properties current production levels
dollar opens sharply higher in tokyo at 14355 yen monday close 14135
this is the third such offering the company has made and the second in the past four months
a shareholder group led by far hills nj investor natalie koether said it raised its stake in computer memories inc to 573300 shares or 51 pct of the total outstanding from 542000 shares or 48 pct
oak had a tax loss carryforward of 125 mln dlrs at the end of 1986
m 1 has been largely discredited because its traditional link to economic growth has disintegrated under the impact of falling interest rates and banking deregulation
the semolina is for shipment during june 1987 it said
concern over el nino in peru usda report
utilicorp ucu sees higher 1987 first quarter
it also received a reduction to 600000 dlrs from 16 mln dlrs of its total charter guarantee for the regent sea and regent star
us sees more harmony in talks with france
the pentagon announced on monday that us warships destroyed a non producing oil platform used for monitoring gulf ship traffic and military operations and also raided a second iranian oil rig in retaliation for an earlier iranian attack on a kuwaiti ship flying the american flag
the average forecast called for a 23 billion dlr increase
shipments during december 1986 amounted to 418755 tonnes against 257844 tonnes in the same month of 1985
qtly div 12 1 2 cts vs 12 1 2 cts pay april 23 record april 2
the company did not say how much the atlantic division lost
shr 127 dlrs vs two cts net 188 mln vs 357000 revs 1260 mln vs 985 mln avg shrs 147 mln vs 120 mln year shr loss 217 dlrs vs loss 65 cts net loss 284 mln vs loss 7225000 revs 4050 mln vs 3562 mln avg shrs 131 mln vs 122 mln note 1986 net both periods includes 150 mln dlr gain from sale of real estate
todays cut was slightly disappointing said bill martin chief uk economist at stockbrokers phillips and drew
when the talks began on monday xuto said those issues should be settled by the end of the first week to allow time to draft an agreement during the second week
they have granted pittston the right of first refusal to their shares
these comprised 65 mln stg in band one at 9 7 8 pct 114 mln stg in band two at 9 13 16 pct and two mln stg in band three at 9 3 4 pct
hk banks to raise prime rates soon dealers say
paues said the merger was a direct result of the sharp fall in oil prices 18 months ago which led oil firms to cut back exploration activities
prudential can fund these things more cheaply than first city and theres an incentive to invest in troubled energy companies right now as values are depressed in a statement first city chairman ja elkins said the banks strategy was to reduce the proportion of energy loans to total loans
the trend is toward continued spending but certainly at a much more sluggish pace said don maude of midland montagu capital markets inc
assuming oil prices hold above 15 dlrs a barrel national average gas prices delivered to the utilities at a projected 210 to 225 dlrs per mln btu would be very competitive michael german vice president of economic analysis at american gas association said
osr said it expects to net about 150000 dlrs on the sale of standard knickerbocker
new york investor asher edelman and dominion textile inc dtxt who are currently seeking to acquire burlington industries inc in a hostile tender offer said they lowered their stake in the company
a strong yen would make japanese goods more expensive on world markets while making imports into the country cheaper
nobel managing director anders carlberg said an internal inquiry has revealed an extensive network of international arms smuggling
norway relies on oil for about 40 pct of its total export earnings and was hit hard by the collapse in the oil price during the first half of 1986
were definately not out of it at this point the hutton spokesman said
the interview airs tomorrow but cnn released extracts from his remarks today
current loss includes a 125 mln dlr writedown of oil and gas properties a 67 mln dlr writeoff of deferred charges a 225 mln dlr loss on disposal of uk properties a 212 mln dlr equity loss from affiliate sulbath exploration ltd and a 46 mln dlr loss on other investments
no confirmation or further details were immediately available
the company said this is not in response to a known effort to acquire control
the ministry of agriculture has predicted a fall of at least 25 pct in all major staple crops including maize rice and cassava
forcing reciprocity in one sector by imposing barriers would simply lead to retaliation from the other party he said adding that overall reciprocity can only be achieved by trading off disadvantages in one sector for advantages in another
the notes are redeemable by van dusen after march 15 1992 salomon said
south koreas trade surplus with the us rose to 73 billion dlrs in 1986 from 43 billion in 1985
the company named lazard freres and co as lead underwriter of the offerings
thompson medical co inc tm declares qtly div
health and rehabilitation hrp sets first divi
jamaica has been authorized to purchase about 56000 tonnes of us wheat under an existing pl 480 agreement the us agriculture department said
baker sees 15 to 20 billion dlr drop in trade gap
bayer confident of posting good 1987 results
holmes said that in the upstream us sector the third quarter of 1986 had been the worst of all
shr 153 dlrs vs 18 cts net 841893 vs 95477 revs 503 mln vs 351 mln
the paper also printed an article by chinas commercial counsellor in its washington embassy chen shibiao who said that all kinds of difficulties and restrictions were preventing bilateral trade fulfilling its full potential
ramada ram sells subordinated notes
amoco corps wholly owned amoco canada petroleum co ltd said its proposed 522 billion canadian dlr acquisition of dome petroleum ltd will benefit canada just like the foreign investment that made possible commercial development of albertas oilsands
gte last tapped the debt market when it sold on november 20 1986 250 mln dlrs of same maturity same rated debt priced to yield 9388 pct or 174 basis points over comparable treasury paper underwriters noted
president reagan ordered the study last september citing a determination that the country never again become captive to a foreign oil cartel referring to the opec led oil shortages and sharp prices increases of the 1970s
it said the rise was mainly due to staff costs associated with continued growth in consumer capital markets and investment banking activities
napco international inc is full name of company
sarrazin who through dresdner represents german banks in several rescheduling coordinating committees noted that brazil was still prepared to negotiate
the venture will acquire the related inventories and the champlin trade name the company said
current profits of japans major firms in the october december quarter rose four pct from a year earlier to 5654 billion yen against a 26 pct year on year rise in the preceding quarter the finance ministry said
a shelf registration system would need a revision of japanese commercial law expected in 1988 the sources said
bank officials have said the bank regards the overdraft reference rate based on short term rate trends as its key prime lending rate to corporate customers
they said lukman who is also nigerian oil minister made the remarks whilst talking about the connection between third world debt and industrialised nations
oper shr profit 18 cts vs loss 38 cts oper net profit 577000 vs loss 1147000 revs 163 mln vs 198 mln avg shrs 3227625 vs 3057206 note 1986 net excludes 485000 dlr tax credit
railway maintenance had 1986 sales of 16 mln dlrs
it will issue an additional 105 billion shares to the goverment
also bill may chairman of argosystems and three other officers have granted boeing an option to buy their shares another 89 pct of the outstanding stock for 37 dlrs a share
the funds will be partly used for the conversion or repayment of an 80 mln franc 4 3 4 pct 1972 87 bond maturing on april 15
the battle however has heated up and the range of breakup values on wall street span from the current market price to almost 60 dlrs per share
it said it sold the units to buyers it did not name due to increasing losses caused by the depressed petroleum equipment market
the dollars break below the key 150 yen level ties the treasurys hands behind its back
security pacific spc completes merger
exxon said earnings from refining and marketing operations rose to nearly two billion dlrs in 1986 up from 872 mln dlrs in 1985
the us has decided to go through proper channels us trade officials again made clear their anger over what they call unfair government support for airbus voiced during a visit to european capitals in february
first sarasota holders approve acquisitions
we have had a series of discussions with a great number of banks both bilaterally and individually on the foreign debt situation in preparation for april stals said
however last months agreement among the six leading western industrialized countries to keep currencies around present levels was expected to be a stabilizing influence for exporters it added
the central bank said it is invoking section 39a of the banking amendemnt act 1986 empowering it to grant loans to an ailing bank or to buy a stake in it
president ronald reagan warned iran of stronger american countermeasures if the military escalation continued
under this phase originally due to have started two years after the ems was set up decision making was to have been transferred from national governments and central banks to an autonomous european monetary fund
domestic use at 5680 vs 5450 last month
we have to be competitive
bally bly completes purchase of golden nugget
the house of representatives is expected to vote tomorrow to approve a trillion dollar budget blueprint for the coming fiscal year that reduces the deficit by 38 billion dlrs
comdata has already agreed to be acquired by a partnership for either 15 dlrs a share in cash or at least 10 dlrs in cash and uniuts of securities
the company said it recorded income from continuing operations of 166 mln dlrs or 257 dlrs per share on sales of 440 mln dlrs in 1986
brazil suspended interest payments on 68 billion dlrs of medium and long term debt on february 20
investors more active in gilt market survey says
the offering will not be registered within the us the company said
central bank president jose luis machinea said negotiations with creditor banks on argentinas 30 billion dlr private sector foreign debt were difficult
mitsui expects last years 10 billion yen japanese lsi market to grow quickly
terms were not disclosed the plants operations will complement existing ceiling materials production within jim walters building materials group which last year generated income of 549 mln dlrs on sales of 740 mln dlrs
michigan general said the exchange offer is crucial to is attempt to restructure and reduce its risk from chapter 11
the lawsuit filed by holders of its four pct prior lien bonds due january 1 1997 and its three pct general lien bonds due january 1 2047 sought to prevent the release of collateral the company said
pragma bio tech prag in nitroglycerin testing
the subcommittee also called for the administration to consider retaliation against japan for its restrictive government procurement practices
they said the american decision inevitably carries some risk of armed confrontation but iran despite its blunt rhetoric would want to avoid this as much as washington
story is an analyst with and a director of sydney stockbroker meares and philips ltd
istat said in a statement that gdp growth in fourth quarter 1986 was zero compared with the preceding quarter
bank of england pressure holds base rates
but growers and traders are concerned malaysias participation in the pact will require them to pay a levy for exports of cocoa to non member countries of the icca
the poll conducted by newsweek magazine said 53 pct of the respondents gave reagan a negative performance rating nearly double his disapproval rating before the iran contra scandal
average price was 98217
new container cranes arrive at tanzania port
trading surplus comprised automotive components and products 101 mln stg vs 105 mln industrial services and supplies 30 mln vs 21 mln wholesale and industrial distribution 11 mln vs 22 mln steels and forgings four mln vs 10 mln by region britain contributed 34 mln stg vs 47 mln continental europe 77 mln vs 56 mln usa 28 mln vs 51 mln rest of world seven mln vs four mln
demetree and managers of pcr
the tax free distribution will become effective may 1 1987 and will expire 10 years later the company said
day said the sale could enable day to accelerate its earnings for its current fiscal year ending october 31 1987
about 95 pct of the surplus was from taiwans trade with the united states according to official figures
greyhound agrees to acquire trailways routes
for air canada its acquisition of gelcos canadian courier business represents an excellent financial investment in a market it sees growing by 25 to 30 pct annually spokesman esther szynkarsky said
overseas union bank ltd is one of the five primary dealers approved to underwrite the auctions and ensure liquidity
it said it hopes to finalize a contel agreement by april 15
world group turnover in heavy plant construction rose 74 pct to 777 mln marks but incoming orders dropped 57 pct to 739 mln marks in the wake of the dollar and oil price plunge
in the us where fixed rate mortgages are popular again securitisation has provided the bulk of mortgage money over the past few years
if most of the first quarter growth is inventory building and we cannot identify any improvement in export demand then there is the potential for softness in the second quarter agreed allan leslie of discount corp
nine month divisional net earnings before minorities were
us agriculture department proposals to offer 260000 tonnes of subsidized vegetable oil to four countries are still under consideration by an interagency trade policy group a usda official close to the group said
baker defending the strategy said private commercial banks have rescheduled nearly 70 billion dlrs in debt since october 1985 at longer maturities and lower interest rates
the company said it has extended the offer until july 2
he said the decision to take action was made after a port worker died yesterday after being electrocuted
he said a meeting of the opec differentials committee had been postponed because there is no need for the meeting he did not elaborate
unocal corp said it told the us treasury department that it will not include fluidized bed combustion technology a method for the more efficient burning of solids at its parachute creek oil shale project in colorado due to high costs
the money has been spread out over more than 100 loans and about 12 billion dlrs remains undisbursed
rockwell international rok sells 10 year notes
they need to beef up domestic demand as their trade surplus falls or unemployment will keep growing bergsten said
these reserves were no longer necessary because of recent declines in raw material prices
the navy is unloading foodgrains at chittagong port following a strike by nearly 1000 dockworkers bangladesh shipping corp officials said
shr profit 58 cts vs loss 11 cts net profit 726000 vs loss 145000 sales 4958000 vs 2783000 nine mths shr profit 108 dlrs vs loss 80 cts net profit 1359000 vs loss 1013000 sales 126 mln vs 7145000 note fiscal 1987 net profit includes tax credits of 372000 dlrs in the quarter and 643000 dlrs in the nine months
this weeks intervention showed central banks were prepared to cooperate to defend the paris pact dealers said
later in the week mulford too said there was no target for the dollar and called on japan and west germany to live up to their international responsibilities and stimulate growth
because the number of applications and bonds returned is increasing rapidly a special office where the claims are being processed will remain open beyond the close of business until midnight on march 31 the deadline for claims to be submitted
g 7 wants to show markets its resolve miyazawa
equitable resources inc eqt in regular payout
bad weather during the next six weeks could push the soviets back into the market weather analysts said
there is only a small universe of people who would want to own the company as its presently structured conrac is involved in video displays computer software aircraft instruments telephone answering machines welding equipment and other products
the american express spokesman said he could not comment on whether any officials of the firm were subpoenaed
gross fees of 1 7 8 pct comprise 1 1 4 pct for selling and 5 8 pct for management and underwriting combined
hunter helicopter builds two passenger helicopters that retail for about 50000 dlrs
newmont mining nem plans 2 for 1 stock split
stone container sto to redeem debt
the governments target is to reduce inflation this year to an annual 20 pct
imperial oil said the attention to earnings results from the desire to pursue longer term growth opportunities should the investment climate improve and the belief that low or volatile crude oil prices could continue during the next several years
sweden announced its promised program of unilateral economic sanctions against south africa and gave firms an october deadline to cut trading links
dry weather pushed further into south africas orange free states maize triangle in the week ended march 14 the joint agricultural weather facility of the us agriculture and commerce departments said
texaco sees business little hit by bankruptcy move
uk officials are studying the possible link between the use of antibiotics in calf feeds and the spread of drug resistant strains of salmonella in humans a ministry of agriculture official said
schering plough corp said it is considering the sale of its dr
emanuel did not specify how long ecuador would be unable service private foreign banks
a cut in the discount or lombard rates to bring them in line with the new structure of money market rates since last month would have little practical significance dealers said
the four member mission is expected to stay two to three weeks
national australian bank plans australian dlr bond
the fact is that while there are ample supplies of coffee available at present there is a shortage of quality he said
last years high surplus was attributed to cheaper oil and raw materials lower world interest rates and a weaker dollar
this is the second seven year yen issue in two days a sector of the yield curve in japan that dealers feel has not yet become overpriced
toll brothers inc said it declared a two for one split of its common stock and said it filed a registration statement with the securities and exchange commission for a proposed public offering of 5700000 shares of common as adjusted for the split
shr profit 10 cts vs loss 220 dlrs net profit 687000 vs loss 145 mln sales 683 mln vs 548 mln avg shrs 7018000 vs 6577000 1st half shr profit 38 cts vs loss 195 dlrs net profit 2596000 vs loss 128 mln sales 1299 mln vs 1133 mln avg shrs 6964000 vs 6568000
the paper will have maturities between seven and 365 days
macyro said the two companies operate in the construction material electiricty plumbing hardware and locksmithing sectors and had sales of 235 mln dlrs last year
the analysts said that these efforts will be most successful in the industrial sectors of the economy with large and growing energy requirements
our program is one that overall would provide the greatest long term growth for all segments he said
a spokesman said the companys loss of 2115000 dlrs for the first 11 months as a public company did not meet an income condition on the loans leading to the suspension
wendys the third largest fast food hamburger chain in the us lost about 11 pct in same store sales last year analysts said
its silly not to take a look at making a merger or acquisition if youre a businessman you have to take a look the industry source said
it said it and brockway are preparing responses to the previously announced request for additional information from the federal trade commission under the hart scott rodino act
the amount of corn we export to canada is insignificant the unexpected ruling appeared to be based on the agrument that canada bases its corn prices on us futures prices and that american farm policy has driven down these prices thus causing lower prices to canadian farmers and larger government payments through its farm stabilization program hall said
qtly div 175 cts vs 175 cts in prior qtr payable april 15 record march 31 company corrects amount of previous payment in march 18 item to show there was no change
grain fixing was much quieter out of the us gulf with no fresh business seen on the significant routes to the continent or japan although tonnage was secured for at least five small corn cargoes from the gulf to jamaica at between 21 and 25 dlrs
this reflected outflows of 1026 billion francs through operations of the french exchange stabilisation fund counterbalanced by a gain of 135 billion francs resulting from the quarterly adjustment in the value of dollar deposits held with the european monetary cooperation fund fecom but most of the decline reflected a 3390 billion franc deficit that france built up during the month with fecom as a result of using very short term financing instruments
state owned engine maker rolls royce plc launches its prospectus for privatisation tomorrow with many analysts forecasting higher profits this year
oper shr loss 26 cts vs profit five cts oper net loss 1506000 vs profit 312000 revs 42 mln vs 279 mln year oper shr loss 43 cts vs profit 16 cts oper net loss 2535000 vs profit 1236000 revs 1299 mln vs 1203 mln note excludes discontinued operations loss 142 dlrs a share versus loss nine cts in the quarter and loss 162 dlrs a share versus loss 12 cts in the year
bnl president nerio nesi told a news conference the italian bank was currently involved in talks but declined to name the german institution
arthur krumper of munichs ifo institute which with the diw of west berlin had presented the more pessimistic view of the economy said the braking effects on the economy produced by external factors will remain considerable for most of the year
shamrock capital is a limited partnership led by shamrock holdings inc the roy e
he said the rural sectors in guangdong and fujian were wel developed enabling farmers to choose crops according to the maximum return meaning that many had avoided sugar
the acquisition also involves about 800 mln tons of coal reserves mostly in west va and includes easterns coal reserves and inactive powderhorn operations near palisade colo peabody said
they said sri lankas food department subsequently made a counter offer to five us firms to buy wheat at 85 us dlrs caf for april 8 16 delivery
french bond committee approves three issues
official statements in recent weeks had indicated that the key psychological level of 150 yen was at the lower end of the authorities permissible range
each country in the g 7 britain canada france italy japan the us and west germany has a different view about currency stability the bank of japan sources said
most economists said the fed will inject reserves indirectly via customer repurchases but they added that the fed might opt for a direct injection of reserves via overnight system repurchases
but he said if circumstances changed i am sure then the opec members will consult with each other and take the necessary measures oil analysts say the opec pact could come under strain when demand for petroleum products generally falls in the northern hemisphere spring and summer
despite the figures the budget forecast of about 175 pct annual growth in employment would be met keating said
a further stronger yen would be a misfortune for japan and the japanese people would not be able to bear such a burden he told reporters
oper shr 18 cts vs 51 cts oper net 1048000 vs 1870000 revs 722 mln vs 735 mln avg shrs 5910000 vs 3680000 year oper shr 82 cts vs 72 cts oper net 4307000 vs 2637000 revs 2953 mln vs 2875 mln avg shrs 5235000 vs 3680000 note results exclude one time gains of 223000 or four cts and 564000 or 11 cts for 1986 qtr and year vs gains of 6359000 or 173 dlrs and 7318000 or 199 dlrs for prior periods
jon rosenbaum an assistant us trade representative just back from trade talks in colombia said most producing countries now accept some sort of standardized criteria must be agreed to reintroduce coffee quotas
as long as the foundations stake in wurlitzer is below five pct it is not required to report further dealings it has in the companys common stock
caltex petroleum corp said it will raise posted prices for naphtha and several grades of residual fuel in bahrain effective march 25
eastern lost 1308 mln dlrs in 1986 because of competition and customer uncertainty over its future s and p noted
but munim said exports of non traditional items which accounted for over 40 pct of total exports this year would play a key role in achieving the 1987 88 export target
klopfenstein said certificates meet the goal of allowing prices to go below loan levels and providing usda with an inventory management tool
the nanfang daily said production in guangdong province fell to estimated 192 mln tonnes from 196 mln and that the area under sugar was dropping
the us government has been requiring bond to be posted on imports of brazilian frozen concentrated orange juice since commerces preliminary ruling of last october 23 he said
everyone is expecting strong numbers and if they come in as expected it wont be that bad for the market sloane said
maxwell would not renew bid if suit fails
shr 37 cts vs 27 cts net 1194000 vs 870000
the donners currently own about 44 pct of the companys outstanding shares barco said
the international primary market makers association a trade organisation said its board last week adopted new rules recommending lead managers of eurodollar bond issues make a market in that security for 12 months
nationwide issuing index linked loan stock
together with the five mln rexnard shares it already owns the company said it now holds a 97 pct stake in the company
applebaum of salomon brothers also sees some seasonal dropoff later in the year
american express cos stock fell sharply reflecting in part investors disappointment that the company did not make an announcement about its plans for brokerage unit shearson lehman brothers traders said
mannesmann said in january it hoped to take a 375 pct stake in fichtels holding company sachs ag in the first quarter
this inflow helped boost foreign exchange reserves to more than 51 billion dlrs from just under 25 billion this time last year and provided further upward pressure on the currency
the petition filed by bob evans farms odom sausage co sara lee corp and owens country sausage asks usda to allow mechanically separated meat to be listed on product labels as the species from which it was derived
a further half point cut widely expected in the next week or so has already been largely discounted
general cinema gcn poor season lowers net
stoltenberg referred to a statement released after mondays meeting which said continuing cooperation was aimed at promoting currency stability at current levels
pryor told the futures industry association that there was great reluctance among members of the senate agriculture committee to reopen the 1985 farm bill and that a marketing loan might have a better chance in the finance panel
richard wiener attorney for apex at cadwalader wickersham and taft said the company has not yet decided whether to pursue its case against belcher oil
prior qtr and year figures include operating loss carryforward gains of 76 mln dlrs and 355 mln dlrs respectively
fluctuating exchange and interest rates added volatility and uncertainty while the revaluation of the yen is leading to substantial restructuring of japanese industry cra said
the notes themselves have a 3 3 8 pct coupon and are priced at par
qintex will also complete the 168 mln us dlr buy of 24 mln roach treasury shares at seven dlrs each and provide roach with 50 mln us dlrs of financing for expansion hrs said
scotia mortgage corp is issuing a 100 mln canadian dlr eurobond due april 9 1992 paying 8 3 4 pct and priced at 100 3 4 pct lead manager wood gundy ltd said
a french official added there is also a common interest in getting japan to cut its trade surplus with the rest of the world by opening up its markets although relations have improved markedly between the two countries many irritants remain
philippine debt talks to continue on saturday
prime minister yasuhiro nakasone intervened to try to resolve japans escalating dispute with the us over semiconductor trade government officials said
intelligent business ibcc 1st qtr jan 31
the company gave no details
the islamic development bank idb approved a total of 123 mln dlrs of project loans and technical assistace to member countries a bank statement said
however the market tends to be nervous with values some 100 points above the baltic freight index which is calculated on spot physical rates
it said unless the government took action quickly to fix a competitive exchange rate and control the public sector deficit the higher the probability will be that the government will eventually have to resort to drastic curtailment of domestic demand and either sharp devaluation or still further controls on imports in order to stem inflation and support the balance of payments it said the bank would place more emphasis on the preservation of perus export potential external links and overall economic efficiency
this means that total contractual commitments of 24555 bcf to the australian gas light co of new south wales and the pipeline authority of south australia can be met with spare gas available for sale in south australia it said
real non farm gross product rose 09 pct in the fourth quarter after zero growth in the third quarter and a 13 pct fall a year earlier making an annual rise of 08 pct
it said the 12125 pct obligation will be priced at par and sold in the united states in a public offering managed by morgan stanley
n d resources inc said it agreed in principle to issue an undetermined number of shares to recovery resources corp bahrain in order to acquire recoverys atoka gas gathering systems inc
the general acquisition partnership called the response inflammatory and unproductive particularly since it had tried to discuss the offer with gencorp
chase has 32 billion dlrs of debt outstanding
patrick petroleum co said it signed a definitive agreement to buy bayou resources inc
comb co said it sold three of its retail stores in omaha to bob cummins enterprises inc a retail closeout merchandiser
shr 30 cts vs 26 cts net 2534000 vs 1695000 revs 988 mln vs 671 mln avg shrs 8447000 vs 6563000 note full name of company is harman international industries inc
it said the ec industrial production index base 1980 stood at 1039 in both months
oper shr 29 cts vs 22 cts oper net 39 mln vs 18 mln year oper shr 63 cts vs four cts oper net 101 mln vs 855000 note excludes gain one ct per share vs loss two cts in the quarter and gain 41 cts per share vs gain six cts in the year from investments
the acquisition is not likely to substantially lessen competition or to be inconsistent with the public interest the dot said in a statement
at a meeting march nine danforth informed bp that the special committee had hired first boston corp fbc as its financial adviser and also retained independent counsel
the limit on foreign assets as a proportion of japanese insurers assets was increased to 25 pct from 10 pct last year
illinois central gulf railroad a subsidiary of ic industries inc said it will complete the sale to the chicago missouri and western railway of its 631 mile line from joliet ill to st
great american first savings gta offers notes
utilicorp united inc said it has closed the previously announced acquisition of west virginia power from dominion resources inc for about 21 mln dlrs
if there is no concrete resolution they will be looking to sell the dollar possibly down to the 180 mark level he said
asked what factors might destabilize the markets the official cited a lessening of market fear about intervention a completely unexpected change in the economy of japan the us or west germany or resumption of comments by government officials seeking to talk the dollar up or down
stanley simon was charged with extorting 50000 dlrs from a defense contractor in the first indictment in a corruption probe involving two congressmen a former aide to president reagan and other government officials
nuclear energy provided the bulk of japans electric power in the fiscal year ended march 31 supplying an estimated 27 pct on a kilowatt hour basis followed by oil 23 pct and liquefied natural gas 21 pct they noted
nomura said the bonds are callable from march 31 1990 at 104 declining by 1 2 pct per annum
rochester rtc acquires canton telephone co 
the world bank said it approved two loans to mexico totalling 205 mln dlrs to provide financial assistance to industrial companies and finance a project dealing with agricultural extension services
delegates said there seems to be optimism about settling another issue that of the floor price
should texaco fail to place the bond pennzoil could begin to attach its assets to secure the judgment
debt payments this year are expected to total 287 mln dlrs seaga said
all buyers of us reserves paid a median price of 645 dlrs a barrel of oil during the fourth quarter of 1986 for acquisitions up from 533 dlrs in the third quarter and five dlrs in the second quarter according to the firms research
he said he expected taiwans imports including grains machinery and power plant equipment from the us to rise sharply because of government efforts to balance trade with washington
but it might help cartagenas bid to have old and new debt treated separately
an advertisement placed in the newspapers by the shipowners association read the seamens strike is illegal irrational and unpatriotic the seamen respond that they cannot live on their present salaries
brazil seamen continue strike after court decision
carmel container systems ltd kml year oper net
lynch corp subisidiary lynch entertainment corp said it formed a general partnership called coronet communications co which has acquired whbf tv station in rock island ill
robert watson a program manager for atmospheric problems at the us national aeronautics and space administration said a protocol should demand an initial freeze on the use of cfcs by industry
the offering is co managed by kidder peabody and co and shearson lehman brothers
first boston is co lead underwriter with morgan stanley and co of the debentures which will be convertible into union carbide common at any time prior to maturity unless previously redeemed
darman said baker had been misinterpreted by markets which wrongly believed earlier remarks suggested he wanted a further decline in the dollar
the gross domestic product at factor cost grew 24 per cent instead of the planned 29 per cent he added but gave no figures
the official figure for 1985 86 is 71 mln tonnes 56 to 99 pct below this seasons new estimates
imports rose to 236 billion baht from 225 billion in january
ecuador also banned the sale of petrol on weekends and holidays and limited sales on weekdays an energy and mines ministry communique said
crown said the wyona field is fully developed with 28 producing wells
international coffee organization ico producers will meet at 1500 gmt 0900 est for a general discussion of the market situation producer spokesman lindenberg sette said
oper shr loss 13 cts vs profit three cts oper net loss 644000 vs profit 184000 revs 249 mln vs 221 mln year oper shr loss nine cts vs profit 21 cts oper net loss 429000 vs profit 1123000 revs 908 mln vs 865 mln note revenues exclude medical publishing and retail operations the company decided to dispose of during the fourth quarter which had fiscal year revenues of 173 mln dlrs vs 144 mln dlrs
last year 45000 tonnes were sold into intervention and during the 1984 85 campaign 108000 tonnes
mcfadden did say however that as a matter of procedure it is possible the exchange can lower allowable position limits or increase margin requirements for companies that are in financial trouble
joining the board were leonard lichter pierre schoenheimer and roger kirk the investors designates the company added
the board of the holding company will have an equal number of directors from each institution
aegon expects moderate rise in 1987 profits
it said james mitchell william richardson and steven duin have resigned as officers and directors
citicorp savings was predominantly in northern california
it said the distribution will be payable may 14 record january 1
the central bank fixed its dinar exchange rate steady at 027933 67 to the dollar against yesterdays 027939 73
the 1987 pro forma first quarter results include nonrecurring merger expenses of 47 mln dlrs
sun sun to acquire more of wyoming field
canada northwest to sell preferred shares
loral lor debt lowered by s p
oppenheimer industries opp sees year loss
if rates dont come down the market will say they ought to have come down and will sell sterling he said
china soybean output down slightly usda report
husky oil ltd said the board called a special meeting for april 22 for shareholders to vote on its previously announced agreement for hong kong based hutchison whampoa ltd and hongkong electric holdings ltd to acquire a 43 pct interest in the company
i believe the commercial banks need to be open to creative ideas for reducing the debt burden baker told the annual meeting of the inter american development bank
gulf and western gw to acquire british company
deputy energy minister fernando santos alvite said ecuador would have to import six to seven mln barrels of crude oil to meet its needs until the line was repaired
american express officials also pointed out the earlier statement issued march one said it is company policy not to comment on rumors or speculation
a rise in note circulation will take out a further 105 mln stg
our ability to restructure along these lines is possible primarily because of the financial stability and the strong operating results achieved by management in recent years gluck said
in the corresponding year ago period it reported net earnings of 138 mln dlrs
sedgwick wil retain a 49 pct interest in river thames which is a property liability reinsurer
philadelphia port closed by tanker crash
also some of venezuelas heavy grades were outside the opec pricing system he said
the bank of france also stepped into the french money market to hold down rates injecting short term liquidity at 7 3 4 pct after rates rose close to eight pct
showers improved irrigation supplies in winter wheat areas of northern pakistan and northern india it said
tender loving care said it agreed to buy the 610000 staff builders common held by norrell about 191 pct of those outstanding for 6950000 dlrs immediately prior to the consummation of the merger
oil cargoes are often resold by trades after loading making it difficult for shipowners to know their ships final port at the start of a voyage
metromedia buys warrant for shares of orion
shr loss 44 cts vs profit 113 dlrs net loss 1544000 vs profit 3912000 note cash flow 1010000 dlrs or 29 cts shr vs 2835000 dlrs or 82 cts shr
this is a healthy progression however the experts do not expect the japanese to run the board meetings of any giant us or european concerns
the first a series carries warrants for four participation certificates
the australian gas light co agl said it will offer one share plus one dlr cash for every two shares in oil and gas producer tmoc resources ltd in a counter bid to the previously reported takeover offer by santos ltd stoss the offer values tmoc shares at 475 dlrs each based on agls closing price of 850 dlrs on friday
continental air holders to get further payment
the first significant resistance to specific policies although not overall goals surfaced in 1986 in both the massive government and party bureaucracy particularly among enterprise managers who complained that they were being asked to carry out conflicting goals such as to raise quality standards and output targets simultaneously the report said
britain almost trebled its contribution to 130 mln stg from 45 mln
hearings are scheduled to continue tomorrow
the largest interest was 25 pct of an oil and gas well in weld county colo the company said
sdc sydney development corp nine mths loss
mexico denied reports that british banks are resisting signing a 76 billion dlr new loan and rescheduling package
no interest will accrue or will be payable on the debentures starting may 18 the computer and communications company said
another small drop in already low interest rates could not be expected to cause any significant rise in purchases of consumer or capital goods it said
ec driving to capture brazil wheat market usda
although the mackay burdekin crop outlook is much better than it was there will be some cane losses the spokesman said
the coupon has been fixed at 4 1 4 pct
moodys cited texacos filing under chapter 11 of the bankruptcy code on sunday
however mcm said it now believes it is possible that the units liabilities may exceed 26 mln dlrs
while the initial westpac issue offered investors only 15 basis points over libor morgan guaranty said westpac has agreed with pacific securities that it will pay investors the remaining 35 basis points
valley capital corp vccno 3rd qtr net
the fiscal deficit for 1987 88 is forecast at 22 billion dlrs compared with a forecast of 245 billion for 1986 87 and 187 billion a year earlier
market sentiment is being influenced more by the colder weather in europe and reports that opecs february output was below its self imposed quota of 158 mln barrels per day
carney told the house of commons she will soon announce an amendment to the exports and imports permits act to set up the monitoring program
battery now has 22 mln shares on issue
both fixed investment and private consumption were expected to ease during 1988 but would still remain strong
he declined to give further details
ec farm lobbies back oils and fats tax plan
final figures for the period to february 28 are expected to be published by the brazilian cocoa trade commission after carnival which ends midday on february 27
australia sells bonds in two tranches
he said though it now appeared likely commission proposals for a tax on vegetable and marine oils and fats would be defeated he feared the commission would revive the idea
parent company turnover 220 billion francs vs 229 billion
unadjusted merchandise figures show a surplus of 53 mln dlrs vs 141 mln revised from 203 mln surplus in december 1986 and a 323 mln deficit a year earlier
it also bought 378 mln stg bank bills and 13 mln stg of treasury bills in band two at 9 13 16 pct
the world bank had publicly offered 60 bonds in germany since the first issue was launched in 1959 he said
banner industries inc bnr completes purchase
the new york times quoted baldrige as saying the time had come to limit takeovers in security sensitive areas
sumita also said he did not see the recent dollar drop as anything like a free fall
us urges japan to open farm market further
proceeds will be used for general corporate purposes including the acquisition of seattle trust and savings bank which is scheduled for july one keycorp said
cna inc named drexel burnham lambert inc as sole underwriter for the offering
waste management is involved in removal of wastes
chavin also said if he takes control of the firm it could result in delisting meyers from the new york stock exchange
non callable for five years the issue is rated b 3 by moodys investors and b by standard and poors
nuclear support nssi to buy itt itt henze
he said a whole set of new ideas had been developed and he was convinced the international banking system would provide more funds but the problem is not just economic but also political
the samurai bond to be signed on on april 14 will be the first since an asian development bank issue in february
the company also said its board voted to recommend to shareholders at the annual meeting april 23 an increase in the authorized capital stock from five mln to 25 mln shares
both properties located in southern utah consist of approximately 1430 acres of unpatented mining claims and one state lease it said
a scheme to distribute surplus food free to the poor in the european community ec which was due to expire next tuesday will be partially extended for a further month an ec commission spokesman said
the proposal adopted today addresses only the credit risks associated with interest rate swaps forward foreign exchange contracts and similar financial instruments
however the sources noted a late temporao is always more susceptible to pod rot which flourishes if conditions turn cold and humid and which is more likely from late july on
an additional 13000 tonnes of semolina are still available to egypt under the export enhancement program initiative announced on august 6 1986 it said
west german finance minister gerhard stoltenberg said todays meetings of major industrial countries would look at ways of strengthening the paris accord on stabilizing foreign exchange rates
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
nakasone intervenes in microchip dispute
unusually dry weather affects chinas agriculture
the mission headed by gabin ran kankani head of the banks brazil division met finance ministry secretary nailson nobrega
diplomatic sources frustrated with what they see as mpts obstructionist and protectionist posture have characterized the ministry as feudal
gold reserves totalled 2847 mln crowns unchanged from the previous month and the year ago figure
shr 81 cts vs 63 cts net 16900000 vs 13100000 revs 1525 mln vs 1181 mln year shr 259 dlrs vs 185 dlrs net 53700000 vs 38100000 revs 5263 mln vs 4043 mln note prior year earnings reflect a three for two stock split distributed in may 1986
irt property co said it is in talks on the issucne in europe of 30 mln dlrs of 15 year two pct debentures convertible into common stock at 2350 dlrs per share
a takeover by amoco or imperial would also give a foreign oil company a dominant position in canadas oil industry
the us and brazil have each laid the blame on the other for the breakdown in the negotiations to re introduce export quotas after being extended through the weekend in london
whitehead
it was struck by a missile believed to be iranian in kuwaiti waters and was the first hit on a us flag commercial vessel in the seven year iran iraq war
ciba geigy is currently testing the substance in animals but the company said the new supplies of the drug will be suitable for human tests
only three countries the us colombia and venezuela had offered assistance
chubb corp cb completes acquisition
however he said there will continue to be difficulties and periods of significant risk requiring creative thinking on the part of the banks
undertakings to accept what is effectively a management buyout have been accepted by holders of 889 pct of the shares
chicago mercantile exchange floor traders immediate reaction to the cold storage report for pork bellies was neutral to slightly negative
andriessens latest package comes only months after a decision to cut dairy production by 95 pct over two years and to slash beef prices by around 10 pct
there are also other potential sources of supplies in the world he added
burnham service corp bscoo 3rd qtr net
qtly div 14 cts vs 14 cts prior pay may eight record april 17
reiners also emphasized that the trend in consumer spending is weakening
jamaica will draw down 409 mln special drawing rights sdrs from the international monetary fund following imf approval yesterday of a new credit program for the island the government announced
by the end of this year you may find our brand name on your daily products although this does not mean we will run away from our mainstream business he said
one said redstone could begin a tender offer whenever he wanted and if enough people were convinced his proposal was superior to the viacom management plan he would have a chance to win
townsend thoresen operate two other ships identical to the herald of free enterprise but brabazon said it was not planned to pull them out of service at present
he said as long as the company maintains copyrights with the estates of deceased authors it controls all motion picture and television rights to the stories
also in the event northeast enters into certain business combination transactions holders of the rights will be provided a right to acquire equity securities of the acquiring entity having a market value of twice the then current exercise price of the rights the company said
at this point there is no detailed plan or program
divers have been sent down to try to rescue passengers believed trapped in the ferry which was on its way from zeebrugge to the english port of dover and capsized just off the pier he added
us retail sales rise masks weak trend analysts
brazilian troops to leave oil refineries
about 45 mln dlrs of inventory from the stores is being transferred to other locations the company said
banking sources said no bank seemed ready to lower rates alone and supporters of a cut would have difficulty overcoming opposition from creditanstalt austrias biggest bank
italian treasury announces certificate offer
wainoco said without redemption of the value rights the company would not have sufficient authorized and unissued shares of common stock to complete the units offering
the company said the 1986 net earnings were up 30 pct from 322 dlrs in 1985
the legislation now goes on to the upper house for formal ratification later this week parliamentarians said
orders in honeywells home and building automation and control business were flat in the us and up in international markets it said
japans 586 billion dlr trade surplus with the united states last year has come under fire in congress concerned about the loss of jobs to foreign competition and with the record 169 billion dlrs us trade deficit in 1986
golden valley microwave gvmfo 3rd qtr net
consolidated tvx says it will issue shares to buy stakes in three brazil mining firms
belcher to raise heavy fuels prices
also in pursuit of shorter term financing the bank made greater use of bond auctions to market new issues with two to five year maturities bouey said
a north sea oil find announced by chevron corps chv chevron exploration north sea ltd may indicate a new field with recoverable crude oil reserves of 300 mln barrels industry analysts said
finnish export credit issues danish crown bonds
texaco refining and marketing inc is being awarded a 841 mln dlr defense logistics agency contract for jet fuel the defense department said
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
the debt is rated aa 3 by moodys and a plus by s p
dan glickman d kan also would increase funding for the program to 25 billion dlrs from 15 billion now
the company said it will have about two mln shares outstanding on a fully diluted basis after the transaction
baker who spoke earlier to the national newspaper association declined to elaborate on his statement about us policy
bayerische vereinsbank is issuing 100000 naked warrants at 15 dlrs each which are convertible for up to one year into a 1000 australia dlr bond due april 30 1992 said merrill lynch capital markets as lead manager
an unnamed norwegian firm agreed to buy 100000 tonnes of alumina a year from a refinery in eastern orissa state due to start operations in the next 12 months a commerce ministry official told 
after ashers edelman recent history a lot of people dont find him very credible anymore said one arbitrager
venezuela has still to work out final details of its plan to supply ecuador with 50000 barrels per day of crude oil to compensate that country for lost exports caused by earthquake damage a senior petroleos de venezuela pdvsa official said
it left open the possibility that it might buy more leaseway stock or sell some or all of its current stake but said it has no plans to seek control of the company
the bankruptcy arose from the collapse of ghrs good hope refineries inc which operated a refinery at good hope la
courier crrc sees second quarter loss
he and others noted that the new zealand 90 day rate was 27 pct late last week
in its most recent financial year bonds which was purchased by hanson trust plc in its acquisition of imperial group plc in april 1986 made 960000 dlrs pre tax profit on sales of 136 mln dlrs
after delivering oil to a refinery in paulsboro new jersey the ship apparently lost its steering and hit the power transmission line carrying power from the nuclear plant to the state of delaware
mulligan declined to speculate on how much of the capital growmark is entitled to
merrill mandated for iel us note
the bank holding company said 215 holding co a corporation controlled by the family of the late robert short will buy first bank luverne
atpc officials said they would monitor member countries export figures every three months using customs documents and make projections from such data to see if quotas were likely to be breached within the year long quota period
ideally id like to freeze things right where we are said huckaby leading advocate for sugar growers in congress
shr 31 cts vs n a net 671000 dlrs vs 1256000 dlrs year shr 185 dlrs vs n a net four mln dlrs vs 28 mln dlrs assets 4264 mln dlrs vs 3341 mln dlrs deposits 3231 mln dlrs vs 2772 mln dlrs loans 3359 mln dlrs vs 2549 mln dlrs notethe company does not give 1986 per share earnings as it converted from a mutual savings bank to a stock savings bank in january 1986
we need additional time to understand why baker did not accept our proposal kistler also said that the law suit filed by baker was not a factor in the boards decision to keep its merger proposal on the table
missouri republican senators john danforth and christopher bond have introduced a bill that would allow wheat and feedgrain producers along the mississippi and missouri rivers hurt by flooding last year to collect at least 92 pct of their deficiency payments this year without planting
house of fabrics inc said it expects growth in earnings and revenues as the current fiscal year progresses
jude said the rights may be exercised only after 10 days following the acquisition of or commencement of a tender offer for at least 20 pct of the companys common stock
he told ibc president jorio dauster has confirmed acceptance of national coffee policy council cnpc proposals to establish individual export quotas based 65 pct on export performance 25 pct on stocks and 10 pct by auction
the company said completion of the transaction is subject to approval by both boards and basixs banks and the expiration of the hart scott rodino waiting period
president reagan said the 11 pct us economic growth rate during the final quarter of 1986 wasnt all that bad the commerce department said the rate of growth of the gross national product in the october december period was only slightly less than a preliminary estimate of 13 pct made earlier
costco wholesale costo 3rd qtr may 11 net
call money traded today at 385 95 pct up from 380 90 yesterday
output in the united states fell 185 pct to 530 mln tonnes that in japan 78 pct to 727 mln and that in the european community 65 pct to 991 mln
the city of quebec is issuing a 40 mln canadian dlr nine pct bond due april 1 1997 at 100 1 2 pct sole lead manager societe generale said
but the oecd backed the governments view that the underlying trend for inflation remained downwards this year with a slowdown in domestic costs taking over from last years fall in oil and commodity prices as the chief cause of disinflation
anz bank says it will cut australian prime to 1825 pct from 185 on march 30
uk building society taps eurosterling market
canada outlines gatt agricultural reform plan
no proposed dividend vs 10 crowns
previously zico had bought 965000 bancroft shares for 31 dlrs a share giving it about 28 pct of the company
i tend to go along with the double top scenario said northern futures analyst eileen rico
non refundable for 10 years the issue is rated a 1 by moodys and a by standard and poors
progressive bank inc psbko 3rd qtr net
the action reduces coverage for sales of protein meals to 14 mln dlrs from 16 mln dlrs and creates new lines of one mln dlrs for tallow and or greases and one mln dlrs for vegetable oils the department said
nakasone intervenes in microchip dispute with us 
he said 16000 miles of its 23000 mile fiber optic telephone line are now in the ground and 7000 miles are operable
abbott laboratories inc abt 1st qtr net
rocky mountain medical corp rmedu 1st qtr loss
after a strong rise of 78 pct in 1986 total domestic demand in norway was seen falling by 15 pct in 1987 and one pct the following year
renouf said it has accepted for payment all 3914968 units of benequity holdings tendered in response to its 31 dlrs per unit offer
the board also said it intends to increase the regular quarterly dividend by 43 pct to five cts a share reflecting the split
victoria banckshares inc victo 3rd qtr net
today 28000 employees from 110 companies came out in warning strikes a statement from ig metall said
yugoslavia reaches paris pact on part debt
canada development corp said it is considering the sale of the 2708 mln dlrs it holds of falconbridge ltds 85 pct convertible debentures and of its 25 pct holding in cdc life sciences inc it said it made the disclosure in two prospectuses filed today with the ontario securities commission
the us has threatened to impose tariffs worth up to 300 mln dlrs on japanese electronics exports to the us in retaliation for japans alleged failure to keep a pact on the microchip trade signed last september
medtronic mdt sees 15 pct earnings growth
inspeech insp buys norma bork bork medical
the company said it plans to invest 25 mln canadian dlrs to expand on site treatment facilities to process 100000 tons of gold bearing deposits this year and 200000 tons in 1988
continental plans to raise 125 mln dlrs through an issue of first priority secured equipment certificates due 1992 125 mln dlrs through second priority certificates due 1995 and 100 mln dlrs via third priority certificates due 1999
hawkeye bancorp said it issued 2690877 shares of preference stock to its institutional creditors in payment of 323 mln dlrs of restructured debt
selm societa energia montedison is to close its priolo crude refining units from march 15th to march 28th for maintenance a company spokesman said
these include the possible acquisition of the corn products maize starch plant at haubourdin in northern france vernes said
earlier the existing executive director kobena erbynn from ghana was expected to re nominated but he is now likely to withdraw the delegates said
shr 21 cts vs 60 cts net 156576 vs 443404 sales 5309519 vs 5381264 year shr 106 dlrs vs 155 dlrs net 788220 vs 1151330 sales 223 mln vs 236 mln
international pact on ozone damage likely in 1987
shr 203p vs 191p div 60p vs 515p making 95p vs 80p turnover 193 billion stg vs 191 billion pretax profit 1252 mln vs 1022 mln tax 425 mln vs 311 mln trading profit 1380 mln vs 1227 mln trading profit includes ub foods europe 887 mln vs 784 mln ub restaurants 103 mln vs same ub foods us 438 mln vs 391 mln other 39 mln vs 35 mln unallocated costs 87 mln vs 86 mln interest 128 mln vs 205 mln note full name of company is united biscuits holdings plc minority interests 01 mln vs same extraordinary charges 68 mln vs 143 mln extraordinary charges and credits include surplus on bid for imperial group plc 49 mln vs nil costs of philadelphia bakery closure nil vs 196 mln
the buyout proposal which was previously announced will be structured as a one for 100000 reverse stock split
first boston fbc starts allegheny ag bid
electro audio dynamics inc ead 2nd qtr jan 31
mobil mob files for one billion dlr debt offer
s and p said it projected debt to capital pro forma for the stock buy back at more than 67 pct compared with an average of 586 pct for the five years through 1985
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
opoer shr profit 17 cts vs loss 96 cts oper net profit 2293000 vs loss 7110000 sales 1160 mln vs 1083 mln year oper shr loss 203 dlrs vs loss 212 dlrs oper net loss 138 mln vs loss 116 mln sales 4540 mln vs 4464 mln note net excludes gains from discontinued operations of 102 mln dlrs vs 1985000 dlrs in quarter and 4262000 dlrs vs 1320000 dlrs in year
when some of these are declared and exercised at the end of the relevant month physical tightness and squeezes around these dates are commonplace they said
anheuser busch bud debentures issued
abdul rachman ramly the president of state oil company pertamina has said that budgeted exploration and production expenditure for all oil companies in indonesia was forecast to fall to 31 billion dlrs in calendar 1987 from 34 billion in 1986
boston five cents savings bank said it and neworld bank for savings have agreed to merge forming a new holding company boston five bancorp
intermagnetics general inma completes buy
union shippers agree to cut ny port costs
treasurys baker sees 15 20 billion dlr us trade deficit reduction this year
1985 year net excludes 304000 dlr tax credit
the company said the transaction is not expected to have a material impact on earnings
unions commercial paper and short term deposits were unchanged
taiwans soybean imports in calendar 1987 are provisionally set at 181 mln tonnes compared with a revised 174 mln tonnes imported last year
precision target marketing inc ptmi 3rd qtr
a government as a sovereign entity has dignity and prestige to maintain he said he had previously held that ecuador was obliged to make debt payments when crude oil was at 26 dlrs a barrel because the government had projected plans with crude prices at that level
americanture inc said it has purchased american adventure inc goaqc for cash the assumption of liabilities and the issuance of american adventure inc common and preferred stock to creditors shareholders and members
the bank will decide march 31 whether to characterize these loans as non performing william ogden chairman of the continental illinois national bank and trust co of chicago continentals largest subsidiary said in response to an inquiry
the wheat is for shipment may 1 10 1987
ceco said it financed the purchase through an increase in its existing credit line
the losing candidate was a consortium headed by publishing group hachette sa hacppa the nccl decision awarded the bouygues consortium a 50 pct controlling stake in a company which will have a 10 year operating concession for tf1 frances oldest and most widely watched television network
cheyenne resources inc said it purchased interests in four producing oil and gas properties for 2240000 shares of the companys restricted stock
shipbuilders association officials told mhi is the worlds largest shipbuilder in terms of orders and capacity
esso saf essfpa year ended dec 31 1986
top french banker sees china foreign debt very low
alco standard asn completes acquisition
leucadia has 50 mln dlr revolving facility
us agriculture secretary richard lyng said he was not sure a long term us soviet grain agreement would be worth extending when it expires next year
pennsylvania power said the 7 3 8 pct series preferred stock is redeemable at any time also at the option of the company at 10738 dlrs per share on or before march 31 1992 and declining to 100 pct on and after april 1 2002
it said its us subsidiary chene investments inc bought 255 mln common shares from the controlling davis family yesterday at 30 dlrs a share for 765 mln dlrs lifting its stake to 494 pct
the complaints were filed by robert moss and other parties who are believed to own about 230000 shares of alleghenys preferred stock
in a newspaper advertisement the company said the offer and withdrawal rights expire april 20 unless extended
investors may take computerland public
in the event sterling continued firm after the rate cut leaving the market still looking for another half point fall
although some 2500 tonnes of sugar have been offered to intervention in the netherlands dutch producers and traders said this sugar was actually belgian and was being offered by the belgian industry
gulf shipment ranged in prices from 7517 to 7845 dlrs per tonne stowed and trimmed fob euqivalent and west coast shipments ranged from 7941 to 8102 dlrs per tonne stowed and trimmed fob equivalent they said
he said usda had devoted an enormous amount of time to considering making wood products eligible for the guarantees and that congress was considering a measure to do so
treasury secretary james baker said the united states and the five other industrialized nations signing the recent paris accord remain committed to fostering the exchange rate at around current levels
credit foncier de france issues 150 mln ecu bond
southeast banking stb files for note offering
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
reebok will sell three mln shares and pentland will sell 1404866 shares reducing its stake in reebok to 181 mln from 195 mln shares
economists said the purchase was almost certainly related to the investment of proceeds from recent central bank intervention in the foreign exchanges
fpl group fpl unit sells bonds at 8951 pct
a counter proposal from creditor banks to argentinas request for rescheduling its 50 billion dlr foreign debt was full of holes an argentine observer at negotiations said
mixon said the increases should come from internal growth as well as potential acquisitions
in addition it bought 16 mln stg of local authority bills in band two at 9 13 16 pct
the bundesbanks average yield of public paper is already nearing last years low
halbert charles m
net unilateral transfers during the fourth quarter last year covering foreign aid and government pensions were down to 39 billion dlrs from 42 billion dlrs in the third quarter because of fewer us government grants to mideast countries
he told reporters the government organisation had expressed interest in one seat on smcs 15 man board and was preparing to invest 800 mln pesos assuming a purchase price of 100 pesos a share
between october 2 and 14 industrial equity pacific bought 918900 shares of calmat common stock at 33 dlrs to 3755 dlrs a share or a total of about 338 mln dlrs
jim walter corp 2nd qtr shr 86 cts vs 62 cts
wavehill international ventures inc said it has agreed to acquire personal computer rental corp of coral gables fla in a transaction in which shareholders of personal computer will receive shares respresenting about a 25 pct interest in the combined company
the average price was 9836 to give a yield of 3246 pct and lowest was 9833 giving 3314 pct the ministry said
the board completed reports on stock verification and the next regular board session will be in indonesia june 1 5 delegates said
the shipment was part of a contract signed in february for the saudis to supply brazil with 125000 barrels per day until june
aancor unit sells priority subordinated notes
the debentures are convertible into the companys common stock at 5455 dlrs per share representing a premium of 2576 pct over the stock price when terms on the debt were set
instead m 1 fell eight billion dlrs to 7457 billion dlrs at a seasonally adjusted annual rate
the improved earnings resulted mainly from a 225 pct profit increase in non manufacturing industries supported by an 887 pct rise for construction firms and a 138 pct gain in real estate according to a ministry survey
according to finance minister manuel azpurua a 100 mln mark credit has been lined up for the venalum aluminium plant
linear also said it is increasing its stretch film prices by six pct effective april 15
dresdner bank economist alfred apholte said the soviet unions large currency and gold reserves had softened the impact of the dollar weakening and oil price drop
west german aid to bolivia will rise to 91 mln marks in 1987 from 50 mln in 1986 west german president richard von weizsaecker said
north rhine westphalia issues 12 billion mark bond
but a japanese finance ministry official said that despite us frustration over higher interest rates abroad this does not represent its readiness to scrap the basic framework of the louvre accord in frankfurt f
it also called for a major review of the commissioned bank system which increases the cost of issuing domestic bonds and for deregulation of private placements they said
conable says brazil debt moratorium is temporary
the department said the provision of the farm disaster assistance act will be available to all eligible winter wheat producers producers of other types of wheat who were prevented from planting their 1987 wheat crop because of a 1986 natural disaster and all producers who operate farms with program crop acreage bases subject to flooding on 50 pct of such crops permitted acreage
the initial exercise price is 494 yen per share and maturity is february 4 1992
congressional ire is rising against the multinational development banks which make loans to help other countries produce goods in direct competition with beleagured american farmers and miners
iel itself is 51 pct owned by brierley investments ltd of new zealand merrill lynch said
dow chemical co said it has agreed in principle to sell its industrial chemicals and plastics business interests in south africa and related assets to a group of south african investors for undisclosed terms completing the sale of the companys south african assets dow said it will continue to support its educational and health programs for south african blacks
with the help of appropriate economic programmes there should be a way to bring back financial stability to that country
standard commercial stobo 4th qtr net
gus makes 82 mln stg agreed offer for pantherella
rep
berliner bank ag has suffered losses of between 10 and 100 mln marks through credits granted by its stuttgart branch by officials there exceeding their powers a bank spokesman said in answer to queries
the company now has about 181 mln shares outstanding
one convertible dealer said were waiting to see the result of todays court hearing texaco is applying today in the texas courts for relief from having to post the court bond
merrill lynch mer in talks on canada purchases
february exports were still 354 pct above the 1522 billion dlrs recorded in the same month last year
the uk government hopes for a breakthrough on the deadlock with japan over trade policies during next weeks visit to tokyo by corporate affairs minister michael howard political sources said
the combination of preferred and common stock holdings permit shamrock and nawara to exercise voting control over approximately 53 pct of the shares of the company
avana group plc defending itself against a bid from ranks hovis mcdougall plc rhmll rhm forecast a 34 mln stg rise in profits in the 1986 87 year
ended jan 31 shr loss 158 dlrs vs profit 58 cts net loss 242 mln vs profit 189 mln sales 134 billion vs 132 billion avg shrs 200 mln vs 198 mln year shr loss 127 dlrs vs profit 92 cts net profit 42 mln vs profit 480 mln sales 409 billion vs 398 billion avg shrs 202 mln vs 196 mln notes share results after provision for preferred dividends per share profits from operations were 146 dlrs vs 71 cts in the quarter and 244 dlrs vs 105 dlrs in year
triton said because of the wells status as a deep exploratory well production qualifies for a five year royalty holiday under the saskatchewan drilling incentive products
this is a move by the metal broker to have a receiver appointed over the itcs assets
it would be nice if the saudis would go more public but its their real estate said the official who asked not to be named
the ministry has also rejected foreign management
west german bank issues luxembourg franc bond
but these credits cannot be approved until the export credit agencies agree to resume insuring the credits
taiwanese manufacturers can create jobs for americans and avoid import quotas if they set up plants in the us he added
traders said there was speculation a bidder might appear and also that real estate developer donald trump who holds a stake in ual might participate in a takeover bid
zim said chemclear inc cmcl has unilaterally canceled an agreement to merge with zim and zims board is studying the possiblity of a claim against chemclear
each 50000 franc note carries 15 warrants
canadian utilities ltd said it will redeem all its 145 pct cumulative redeemable second preferred shares series g on may 1 1987
bankers trust new york corp filed with the securities and exchange commission for a shelf offering of up to 400 mln dlrs of subordinated debentures on terms to be set at the time of sale
planting moved into mohave and pinal counties
us fed explores commodity basket index
we have nothing in hand she said
leroy pesch the principal shareholder of pesch and co
royex offers 50 dlrs shr and 40 dlrs warrant for international corona
the conversion premium will be five to 10 pct and the price will be fixed on or before march 18
were not considering taking either a majority or minority stake in air atlanta but we are thinking of providing them with a loan the spokesman told in a comment on a wall street journal report saying debt laden air atlanta could sell as much as 25 pct of its stock to the dutch airline
my gut feeling is that common sense will prevail
dresser is expected to improve profitability owing to cost reductions and streamlined operations including the sale and leaseback of its headquarters said swarup
its still possible well have to close the smelter a national southwire spokesman said
shr loss 14 cts vs loss 21 cts net loss 353000 vs loss 541000 revs 2668000 vs 2525000 avg shrs 24523000 vs 2552300
specifically they said the feds dollar buying intervention has been half hearted designed more as a political gesture to japan than to strike fear into the markets
ecuador squeezed by the slide in world oil prices in 1986 had only 138 mln dlrs in net international reserves at the end of january about equal to one months imports
shr loss seven cts vs loss 19 cts net loss 497452 vs loss 1306875 revs 106 mln vs 96 mln
he said heinz ketchup has its highest market share in history 55 pct
winter weather hurts east german grain usda
enserch corp said it called for redemption on may 4 1987 all of its outstanding 16 3 4 pct sinking fund debentures due 2007
poehl speaks against german interest rate cut
japanese crushers buy canadian rapeseed
ccr video sayst received offer to negotiate a takeover by intercep investment corp
wolverine said the action continues the restructuring operation begun last july to make the company more competitive and profitable
eight mln of the banks current 113 mln shares are free shares a spokeswoman said
iranian gunboats usually check a ships nationality and cargo before attacking but the pivot was hit near bu musa island without warning they added
shr loss eight cts vs loss 20 cts net loss 586000 vs los 1497000 revs 138 mln vs 144 mln year shr loss 15 cts vs loss 18 cts net loss 1135000 vs loss 1377000 revs 577 mln vs 551 mln
bhp said the petroleum division earnings fall reflected generally lower oil prices and sales volumes from bass strait while the steel decline was due to a five pct fall in domestic sales and higher costs associated with the commissioning of new plant and some operational difficulties
standard and poors corp said it affirmed the ratings on wr grace and cos 575 mln dlrs of debt following its fourth quarter 1986 loss of 560 mln dlrs
speaking two weeks after a us warship was attacked in the gulf mosar warned an escalation in the gulf would increase tensions in the oil market but i do not want to be alarmist he told a news conference after an ec energy ministers meeting in luxembourg
chemlawn chem has no comment on new offer
president of the powerful and independent west german central bank the bundesbank poehl is likely to have his contract renewed for another eight years when it expires at the end of this year government officials say
euras broke even in 1986 and required no funding from deutsche he said
the api said that with the higher crude oil runs distillate and gasoline inventories were sharply above year ago levels
s and p said danas management plans an aggressive stock repuchase which would result in a significantly more leveraged capital structure
taiwans shipbreaking industry is expected to decline sharply this year despite the boom in 1986 because of keener competition from south korea and china the rising taiwan dollar and us import curbs on steel products industry sources said
jacobs was interested in buying the company but took no steps toward a transaction
california water service co cwtro 3rd qtr
the world banks policies prevent it from lending money for the transfer of land from landowners to the landless but it can help finance development of the philippines proposed land reform program a bank official said
sony chairman forecasts lower profits this year
any decision will be forwarded for final approval to a gcc summit meeting due in saudi arabia late this year
as previously announced creditors will receive 450 mln dlrs in cash 500 dlrs of 13 1 4 pct senior subordinated debentures and four common shares for each 1000 dlrsd of allowed unsecured claims
it said the agreement has been approved by the directors of both banks and is subject to approval of marine shareholders by a majority vote
swire also had an extraordinary profit of 138 billion dlrs mainly from the sale of a 1525 pct interest in cathay pacific airways ltd caphhkg miles said the company will use the money to develop its business primarily in hong kong
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
when loral announced the transaction january 12 the company said it was paying 640 mln dlrs for goodyear aerospace
the company also said it completed negotiations to sell between 10 and 12 mln cubic feet of gas per day to a large unspecified east coast utility
taiwan introduced a sweeping tariff cut on some 1700 foreign products last january aimed at helping reduce its growing trade surplus with the united states the islands largest trading partner
the indicated totals include reported commitments to both named and unnamed destinations sales on exporters own account and optional origin sales plus actual exports already made during the respective marketing seasons
the policy is proving counter productive and rates will have to come down in the long term the bank spokesman said in reply to enquiries
project financing and technical assistance loans fell to 1757 mln islamic dinars in the year ended last september from 2694 mln the previous year
west german bankers also said then that brazil should seek an understanding with the imf
and despite bp managing director david simons denial today that bp would raise the offer the analysts said that remained a distinct possibility
the factors affecting the us currency have not changed since before the paris accord they added
the federal home loan bank board adjusted the rates on its short term discount notes as follows maturity new rate old rate maturity 30 174 days 500 pct 500 pct 30 174 days 175 190 days 588 pct 585 pct 175 190 days 191 270 days 500 pct 500 pct 191 270 days 271 288 days 592 pct 592 pct 271 288 days 289 360 days 500 pct 500 pct 289 360 days
icahn who has long talked about further consolidation in the airline industry also offered usair the alternative of a three way airline combination including twa and piedmont
west german bank issues luxembourg franc bond
funaro says creditors willing to help brazil
sumita repeated that the japanese economy may gradually recover in the latter half of the 1987 88 fiscal year ending april 1 1988 provided exchange rates stabilize
societe generale which will itself be privatised later this year will retain its 5258 pct majority holding in the bank chairman marc vienot said
coordinated punishing intervention by the central banks in contrast to the recent rolling intervention which has only smoothed out the market is in the offing according to horner
french inflation slows in february
it said 40 billion lire will go to state airline alitalia for the purchase of 10 mcdonnell douglas corp mdn md82 aircraft
the group the board cannot fully carry out its fiduciary duties to gencorp shareholders and make a fully informed decision about its offer until it has thoroughly explored with us the ways in which our offer can be revised to provide greater value to your shareholders general acquisition said it is aware the board may be reviewing alternative transactions which might provide gencorp shareholders with a payment other than cash
compaq reported earnings of 83 mln dlrs or 30 cts a share and sales of 144 mln dlrs for the first quarter 1986
second because the market response has shown that banks have much less to fear from this sort of move than they felt before citicorp he said
s p affirms ratings on atts seven billion dlrs of debt
earlier today london traders had expected the subsidy for the current season whites campaign for licences to end aug to be more than 4500 ecus per 100 kilos but paris traders were more precise by forecasting a rebate level of 4575 to 460 ecus
but lee said the negative inflation rate is unlikely to be repeated this year because of projected higher prices for primary commodities and oil
airlines officials could not be reached for comment on the ruling which halts the merger until arbitration on the dispute is completed
sand w
the only one the repackaging favours is morgan a trader said
he called on the government to review its tax policies to restore incentive to exploration
the soviet unions winter grain crop is likely to have suffered losses due to dry planting conditions last fall and severe cold this winter an analyst of world weather and crop conditions said
allegheny international ag sells three units
associated now holds 33 pct of northern stars current issued capital a company official said
in november the index base 1980 stood at 1448 showing a rise of 43 pct on a year on year basis
we took a very positive view of the opec meeting in vienna he said
the food and drug administration approved human trials will be conducted on at least 30 patients male and female for each cancer type
he also said he still believes a dollar exchange rate level plus or minus 10 yen from 170 yen would be within levels agreed upon last month in paris by six major industrial nations
certainly funaro got a frosty reception in washington and several european capitals in the past week when he called on government officials to explain brazils crusade for a political dialogue on debt
meinke noted that in the case of argentina the loans became non accruing for a couple of quarters but then when the banks came to an agreement with argentina all the back interest was paid
the united states and the asean countries signed a memorandum of understanding concerning tin disposals by the us general services administration gsa in december 1983
qtly div four cts vs four cts prior pay april 15 record march 31
basically the courier division is a company that has 450 mln dlrs in revenues
telecom plus international inc said the closing of the sale of its 65 pct interest in tel plus communications inc to siemens ag has been delayed
cofab said its group of companies manufacture specialized cooling and lubricating systems for the oil and gas petrochemical utility pulp and paper and marine industries
other milds coffee producers include costa rica dominican republic ecuador el salvador guatemala honduras india mexico nicaragua papua new guinea and peru
the bill contains a provision implementing a 0 92 acreage reduction plan for 1986 wheat and 1987 winter wheat thereby making payments available to farmers who were not able to plant last years winter wheat crop because of flooding
behind the latest dollar fall lies the belief that last months accord was no longer enough to stop operators pushing the dollar down the dealers said
underwriters are levesque beaubien inc wood gundy inc burns fry ltd and nesbitt thomson deacon ltd
about 48820 tonnes of corn from 97320 hectares valued at 1708 mln pesos have also been lost they said
with completion of the merger shefra changed its name to flyfaire international inc
fees total 2 1 4 pct and listing will be in luxembourg
in an attempt to hammer out an agreement solomon today met fumio watanabe the senior keidanren officer trying to arrange the merger
both deals have an indicated pricing of par
hernandez said the increase had come from a new accounting system which included the results of pdvsas overseas refining and marketing operations
we were quite satisfied with the agreement in paris otherwise we would not have been a party too it he said
amer said in a statement the loan would be used mainly to convert its overseas currency loans and expand business but gave no further details
we have stated many times that coca cola co has no interest in an acquisition in the food service industry and thereby becoming a competitor to our food service customers wendys stock has been flying high on the rumors for two days
if the normal weekly allocation is not doubled at the fortnightly session high demand could undermine the objective of the new system analysts said
the company said the sale is in line with its strategy of refocusing on its health care service business
it has been stressed to mr akiman that the decision where or how to drill belongs exclusively to the greek government the greek government has repeatedly let the turkish side know that it considers the 1976 berne protocol as inactive through the fault of turkey it said
conable directly linked further bank help for indonesias hard pressed balance of payments to further measures by the government to reduce protectionism and increase efficiency
the following proposed securities offerings were filed recently with the securities and exchange commission stone container corp sto secondary offering of 1633453 shares of common stock and offering of 300000 shares of common stock both through morgan stanley and co inc and goldman sachs and co
pubco said the rights are not being distributed in response to any specific effort to change control of pubco and the board is not aware of any such effort
millers remarks reflected concern that the us central bank might feel compelled to tighten credit as a means of bolstering the dollar
in times of rising commodity prices monetary policy might be tightened and in times of falling commodity prices monetary policy might be eased he said
saudi arabia is likely to remain the key supplier of liquefied petroleum gas lpg to japan for at least the next five years oil industry sources said
colgate palmolive co cl sets payout
novo astro operates brazils richest gold mine located in amapa state with an average grade of 08 ounces of gold a ton in a hardrock quartz vein consolidated tvx said
most of the mills are old and inefficient with many of them using soviet equipment imported in the 1950s he said
its approximately 14 billion dlrs of loans to the four major latin debtor countries account for 110 pct of year end equity and reserves
chile signs debt rescheduling agreement
ambassador lindenberg sette will attend the meeting he said
current nine mths net includes after tax provision of five mln dlrs for consolidation of food plants
they said licences were issued at the start of the year to import crude palm oil but were subsequently revised to include rbd olein and rbd oil
consumer prices rose by 161 pct in the year to january
after emery made its offer hutton extended the deadline on its offer to monday
oper shr 21 cts vs 34 cts oper net 480000 vs 765000 revs 6386000 vs 5862000 year oper shr 120 dlrs vs 78 cts oper net 2692000 vs 1732000 revs 252 mln vs 203 mln notel net excludes tax credit 35000 dlrs vs reversal of credit 40000 dlrs in quarter and credits 79000 dlrs vs 72000 dlrs in year
rpt argentine grain oilseed export prices adjusted
each bond will be convertible on a one for one basis for a 8 1 2 year 850 pct bond priced at 9876 pct redeemable at the end of its life
gsw inc year net
fairmount chemical co inc fmtc 4th qtr loss
bayly bayl buys majority of chutes
liffe is discussing such a link with the cbot they said
the bonds also carry the right for the issuer to redeem them after two years if the share price is above 130 pct of the conversion price for more than 30 days
swiss industrial output rises in fourth qquarter
pw administers the russian compensation fund which was set up by the foreign office in 1917 to oversee some 45 mln stg in pre revolutionary reserves for claimants of assets seized during the revolution
the fire which started wednesday and burned itself out late yesterday killed one miner and trapped 56 others underground for about 24 hours
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
in his letter made available at the treasury volcker also said a proposal to ease debt problems of developing countries by setting up a public facility to buy their debts owed to commercial banks was a problem
the trade they said was swap related
1987 nine mths net also includes after tax gain of 443 mln dlrs or 174 dlrs per share for formation of valero natural gas partners lp 1986 3rd qtr includes after tax loss from discontinued operations of 315 mln dlrs or 126 dl share
however last month the governments planning bureau said it had revised its 1987 forecast for this to 09 pct from 20 pct
norcros plc ncrol the building products and packaging group said its board had no hesitation in unanimously rejecting this mornings 5422 mln stg bid from williams holdings plc the industrial holding firm
gte gte sells debentures yielding 8737 pct
the federal government also wanted to deliver an aid program outside the tax system
in this connection they welcomed the proposals just announced by the governing liberal democratic party in japan for extraordinary and urgent measures to stimulate japans economy through early implementation of a large supplementary budget exceeding those of previous years as well as unprecedented front end loading of public works expenditures
muda said the group of eight had some common ground with the big consumers because they agreed on the need for basing quotas on what he termed realistic criteria the breakaway group believes the old quota system which gives brazil a 30 pct share of the quota exports does not reflect up to date supply and demand trends
gmac canada unit issues canadian dollar bond
norstar said the acquisition is subject to approval by uniteds holders and state and federal regulators
us refiners said they are worried that growing supplies of imports proposed federal environmental regulations and the marketing of a third grade of unleaded gasoline would cost them dearly and at a time when the industry is recovering from a recent slump
international minerals and chemical said annual sales of the unit are about 45 mln dlrs
anthes industries inc 4th qtr net
genentechs stock closed at 58 5 8 on the new york stock exchange last night
us refinery copper stocks fall in january
standard and poors corp said it may downgrade afg industries inc and gencorp inc because a partnership affiliated with afg and wagner and brown made a 22 billion dlr tender offer to acquire gencorp
1986 qtr and nine mths includes gain 128000 dlrs or 36 cts per share and 445000 dlrs or 167 dlrs per share from utilization of operation loss carryforward
this compared with a two pct growth forecast made by the wifo last december
j terence murray chairman and president of fleet financial said fleets mortgage banking activities in particular continued to produce signficant income increases in the first quarter murray said fleets mortgage servicing portfolio reached 221 billion dlrs by march 31 including 18 billion dlrs purchased in march
it said the change will not be applied retroactively to prior financial periods
the 90 mln franc 1987 95 issue has a coupon of 4 1 2 pct and issue price of 9975 pct while the 58 mln franc 1987 97 issue has a coupon of 4 5 8 pct and issue price of 9975 pct
a small scale industry development project will be supported by a 54 mln dlr loan the bank said
hawkeyes survival will depend on its ability to comply with provisions of the debt restructuring and regulatory agreements and on its ability to return to profitable operations it said
in the same period borrowings from the private sector by the nbfis rose to 70389 mln dlrs from decembers 70237 mln and the previous januarys 64299 mln
blockbuster video superstores are franchises of blockbuster entertainment corp bbec rio grande video will act as general partner owning 50 pct of the partnership it said
the trilateral commission was set up in 1973 by david rockefeller former head of chase manhattan bank and others to promote closer cooperation among the three regions
in colombias case we watch with consternation that while we try to effectively combat drug trafficking countries which support us in this fight seek to cut our jugular vein cardenas said
thyssen stahl employs some 40000 people
it plans to make an official estimate of the forthcoming crop next month dauster said
scotia mortgage issues 100 mln canadian dlr bond
but the oecd in its half yearly report forecast a slightly lower inflation rate over the next two years
im concerned about the feds overreaction
bulgaria czechoslovakia poland and romania all took substantially more cuban sugar
that means the buffer stock manager is likely to begin buying cocoa within two or three weeks after organizing communication systems and assessing the market they said
the large amount of paper brought to the market in the last two months has also led many syndicate managers to complain about the bundesbanks present fixed calendar system which they say is too inflexible
erc international said it will file in the first quarter for a public offering of 25 mln dlrs principal amount convertible subordinated debentures due 2012
japanese customers have bought nearly six mln barrels of crude oil from the national iranian oil company nioc at a substantial discount to the official price and western traders have received even larger discounts japanese traders involved in the transactions told 
these included shipments to western options at 205 mln tons against 359 mln previously
philippine copper smelter faces shipment delays
st
the shares closed at 390 dlrs today down 25 cents on yesterday after etl withdrew on reaching the top foreign shareholding level permitted without foreign investment review board firb approval
their anxieties stem from the fact that they are allowed to use the land but not own it
kayaba industry co ltd is privately placing 50 mln swiss francs of five year straight notes with a 4 3 4 pct coupon and 10025 issue price lead manager credit suisse said
japan gnp rises 25 pct in calendar 1986 47 pct in 1985 official
net foreign purchases of securities other than us treasury securities in the fourth quarter were 118 billion dlrs compared with 172 billion dlrs in the third quarter
zambia will reintroduce a modified foreign exchange auction at the end of this month as part of a new two tier exchange rate central bank governor leonard chivuno said
at stake is c and ws 400 mln dlr project to lay fibre optic cables between japan and alaska to form part of its global network
canadian roxy has a 35 pct interest in the five year royalty free well known as the canadian roxy et al trout a14 8 89 3 w5m
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
you cannot expect that to go unnoticed in an economy
there is no call for three years subsequently at par plus the coupon declining by equal amounts per annum until 1997
timeplex inc said it completed its previously announced redemption of its 7 3 4 pct convertible subordinated debentures due 2008
idc services idcso holders offered 16 dlrs
taft did not indicate the size of the gain if any it would post on the sale
but following mondays supreme court ruling texacos suppliers began demanding cash and halting supplies
treasury secretary james baker said there has been no change in us policy on the value of the dollar
cyacq was formed by citicorp capital investors ltd and audio video affiliates inc ava to acquire cyclops
imports fell to 861 billion from 1012 billion a year earlier and 894 billion in january
the bonus is being made from reserves which will not qualify for tax free distribution after the introduction of dividend imputation next july 1
without these currency fluctuations net profit would have been 307 mln guilders higher and revenue 197 billion higher natned said
bankamerica corp said it completed the sale of its consumer trust services division to well fargo and co wfc a transaction that will result in a second quarter pre tax gain of more than 75 mln dlrs
brazils sarney renews call for war on inflation
in a letter to the committee of independent directors formed to consider the offer heyman said it will have to modify the terms of the offer if it is to continue the bid due to rising interest rates and financial market conditions
european markets react quietly to g 7 communique
hong kong firm has 51 pct of mcgill mgllo 
canada consumer price index up 06 pct in may
mead said sales of its unbleached coated paperboard was particularly strong up 13 pct versus the first quarter 1986
toledo and chicago elevators were finishing loading the first corn boats of the new shipping season supporting spot basis values at those terminal points
the issue was announced monday at a price of 96 stg pct and dealers said the government brokers supplies were sold out this afternoon at a partly paid 20 20 32 stg pct
plans of nearby cuba the worlds largest cane sugar exporter to increase output to 10 mln tonnes a year by the end of the decade seem ambitious trade sources said
some of wall streets arbitrage players said it was a rare situation that could only be enjoyed a true bidding war
the deal has an investor put option after five years which will be priced to give the investor an annual yield to the put of 8 3 4 to nine pct
china is short of foreign exchange and a drop in prices is usually taken as a buying opportunity by peking one trader said
ironically one side effect of higher inflation could be to help the government achieve its aim of cutting the state budget deficit several analysts said
china industrial output rises in first quarter
gulf resources and chemical corp gre 4th qtr
domestic consumer spending is not expected to offset the decline in export growth caused by slowing growth in west germany the main dutch trading partner and the lower dollar pierson said in its february economic outlook
latest year and quarter includes extraordinary gains of 214000 dlrs or three cts a share and 85000 dlrs or one ct a share
despite todays rating affirmation s and p cautioned that grace has greater than usual vulnerability to rating change in the next year or two
hamburgische landesbank girozentrale is issuing a 50 mln australian dlr eurobond due april 2 1991 paying 15 pct and priced at 101 1 2 pct lead manager orion royal bank ltd said
shr 64 cts vs 40 cts net 5597000 vs 3426000 revs 835 mln vs 474 mln six mths shr 115 dlrs vs 60 cts net 10 mln vs 5201000 revs 1476 mln vs 915 mln
the debt overhang effects the capacity to grow as it reduces the ability to import the communique said
the imf said that jamaica had a shortfall in the year ended september 1986 due to reduced sales of bauxite alummina and travel expenditures
there should be another month or two of very weak new home sales but with interest rates stabilizing sale of new homes should become more stable by mid summer said economist lawrence chimerine of wharton econometrics inc
this could result in some rate reductions and refunds to customers reuss said he is encouraged by the prospects for progress in centels business communications cable television and cellular telephone units
gold reserves stood at 1267 mln ounces unchanged over the year
ryan mcfarland is located in rolling hills estates calif
viacom international inc said it set april 6 as the record date for shareholders entitled to vote at a special meeting to be held to vote on the proposed merger of arsenal acquiring corp a wholly owned subsidiary of arsenal holdings inc into viacom
analysts said the deal could net csr as much as three mln dlrs for every dollar rise in the oil price above 20 dlrs
florida public utilities co said its board declared a three for two stock split on its common stock
monthly dist 21 cts vs 21 cts prior payable april 25 record april 15
final terms are due april 16
eastern distributive beef trade weekly usda
tvx and salomon also advised taft they hope to be able to close in near future the company said adding it is prepared to close at any time
a shareholder group including far hills nj attorney natalie koether said it reduced its stake in ccx inc common stock to 10000 shares or less than one pct of the companys common stock outstanding from a previous stake of about ten pct
a year before it lost 8084000 dlrs after a 6600000 dlr pretax provision for plant closings
however the us banks are not the only ones threatened by regulations
nova the canadian company that owns 56 pct of husky oil ltd said it received government approval for a transaction under which union faith canada holding ltd would buy a 43 pct stake in husky
citibank lost 490000 crowns in norway in 1985 but sejerstad said a profit was likely this year because of planned liberalisation and better economic performance helped by a steadier oil price of around 18 dlrs a barrel
extracts from opec communique
franklin age high income fund sets payout
auditors of brunswick corp lifted a four year qualification on the companys financial statements vice president finance frederick florjancic told securities analysts here
the company would like to have the option of providing long distance service within and outside its region he said
adc telecommunications inc adct 1st qtr net
todays full council session started shortly before 1500 gmt after the scheduled 1330 start was delayed by an ec coordination meeting
the company added that its application for its proposed acquisition of platinova resources ltd and financings are still before the listing committee of the stock exchange
lear siegler eventually went private for 166 billion dlrs
taiwans trade surplus hit a record 1495 billion us dlrs in the first nine months of 1987 compared with 1105 billion a year earlier official figures show
if you make an effort there is money to be made in japan he added
investors to raise cyclops cyl tender price
interest will be two pct for the grace period and three pct over the repayment period of 30 years
shr loss 98 cts vs loss 111 dlrs net loss 3863000 vs loss 3483000 revs 1081000 vs 799000 note 4th qtr data not given
shr figures adjusted for five pct stock dividend declared march 31
mcdonalds corp rose sharply today after receiving a second recommendation in as many sessions traders said
as stated at the time of the original announcement the company said the payment will be made to holders of record march 31
talks on the possibility of reintroducing global coffee export quotas have been extended into today with sparks flying yesterday when a dissident group of exporters was not included in a key negotiating forum
phillips petroleum p expects to begin marketing the new 89 octane unleaded gasoline in may sources said
last november an advisory panel urged the government to work on reducing officially set high farm product prices to levels closer to international values the sources added
the dinar fell by 731 pct against a basket of hard currencies in 1986
as official washington sought to restore investor confidence after mondays wall street collapse treasury secretary james baker came under fire from critics who claimed he helped to precipitate the crisis
a spokesman for one of spain top five banks said higher overnight call money rates were expected in the short term in view of disappointing money supply figures for february
spot next rose to as high as 6 1 4 six pct from 5 1 4 five pct yesterday and the borrowing interest spilled over into the periods with one month rising to around 6 3 16 5 15 16 pct from 5 15 16 7 8 pct yesterday
armtek arm to sell industrial tire unit
jp industries inc confirmed the announcement by clevite industries inc clev that jp industries has submitted a proposal to clevite for the acquisition of the company at 1350 dlrs per share in cash
the government daily izvestia said a considerable amount of soviet winter crops need to be reseeded and the state 1987 grain harvest target of 232 mln tonnes will not be easy to fulfil
it said the increase is in addition to recently announced increases and applies to carpet paper nonwovens textiles adhesives and other specialty end uses
we must avoid the situation in recent years of importing more than 10 mln tonnes of grain the paper quoted deng as saying that the state council has decided to raise the price of five grains including corn and rice unchanged since 1978 but it gave no details
japan aluminium output falls in february
acc corp 3rd qtr net
anything else would be more than a surprise one said
it gave no reason for the changes in the government of the arab baath socialist party which has ruled iraq since a revolution in 1968
australian tug crews delay foreign container ships
ongpin also said the government would pursue efforts to obtain 500 mln dlrs in concessional funding for the program from a world bank led consultative group of multilateral and bilateral aid donors
the loss in the quarter was 2323 mln dlrs or 675 dlrs against income of 107 mln dlrs or 31 cts a year ago
he defended the usda differentials saying that these price margins reflect an average of prices throughout the year and that seasonal factors will normally cause prices to increase or decrease
any dollar purchases by the bank today were for purely day to day purposes they said
edward j
rotterdam port union and employers to meet
prices of wholesale finished energy goods in the us rose 40 pct in february after a 98 pct rise in january the labor department said
yesterday arcos stock jumped as much as five points on rumors it was spinning off the chemical operations
it said the resolution may not occur before april 30
copley properties inc cop increases dividend
weatherford also said the holders of the preferred stock will have the right to elect two additional directors to the board of directors
the bank estimated todays liquidity shortage at about 110 billion stg
hoffmann la roche and co hofzz has not yet reported its results
banking sources in london had been quoted earlier as saying the british banks were balking at signing the package in an effort to get all participants to contribute equally to a new 77 billion dlr loan contained in the deal
it said american split the order between airbus and boeing to get better prices and conditions
the company in reporting its annual results said the change was made to bring its financial reporting in phase with the order cycle of its major customers
the uk government bond market closed showing severe losses ranging to almost 1 1 2 points as sharp falls for us treasury bonds resulting from pronounced dollar weakness exacerbated existing uncertainty dealers said
if the merger is approved common stock still outstanding will be converted into the right to receive 6132 dlrs a share in cash plus a fraction of a share of preferred stock
qtly div 29 1 2 cts vs 29 1 2 cts prior pay april 15 record march 27
cable and wireless was due to take part in talks in japan next tuesday he said
on february 20 brazil said it would suspend interest payments on 68 billion dlrs owed to foreign commercial banks
german net currency reserves rise 400 mln marks to 870 billion bundesbank
an earlier pact expires next week draining 85 billion marks from the system
dor val said this find and other recent ones will make substantial contributions to the mines ore reserves and grade
uk average earnings rose a seasonally adjusted 76 pct in the year to end january after a 74 pct rise in the year to december the department of employment said
shr loss one cent net loss 186000 revs 107 mln 11 mths shr loss 726 dlrs net loss 1214 mln revs 469 mln note in february 1986 kaneb services inc contributed all of its domestic oil and gas operations to kaneb partners which was newly formed and exchanged approximately 3200000 depositary units respresenting limited partnership interests in kep for approximately 6400000 million shares of the outstanding common stock of kaneb servies inc
swissair swszz year 1986
a positive cash flow from operations and disposals continuing into 1987 has transformed our balance sheet keswick said
general partners told gencorp if it believed shareholders would be better served by a smaller cash price with a security representing a continuing long term interest in gencorps prospects it would be willing to discuss an alternative
poehl told an investment symposium in frankfurt last thursday he feared the tax would raise borrowing costs and interest rates stoltenberg quickly issued a statement rebutting poehls criticism saying west germany would remain an attractive place for foreign investors
the manila newspaper sunday times published a letter sent yesterday to president corazon aquino from ariadnes chairman new zealander bruce judge that he was offering cash equivalent to five pct of the nations yearly budget to buy the shares from the government
however before the talks began tanjug said the agreement should cover 16 billion dollars of debt due this year and 35 billion due in 1988
protocomdevices inc said it has seen more erosion of its general financial condition since december 31 and is actively engaged in negotiations to secure additional financing
strata corp said its 1986 earnings report contained a qualified opinion from its independent auditors
he estimated the bottling business might also be worth several dollars per share he said
most major us banks are now posting a 7 3 4 pct rate
final div 95p making 14p vs 1275p
shr 20 cts vs 17 cts net 680000 vs 533000 sales 6473000 vs 5996000 year shr 57 cts vs 84 cts net 1967000 vs 2099000 sales 208 mln vs 190 mln
sales and operating revenue fell to 31 billion stg from 42 billion on a replacement cost basis
usda report on cattle slaughter meat purchases
the new pact is more responsive to market trends than its predecessor the sources said and earlier provisions allowing the buffer stock to borrow from banks have been eliminated
usair group inc said it had no comment on an offer it received from trans world airlines to buy usair for 52 dlrs cash per share
state owned bank of china has bought a three to five pct share of baii holding sa a financial institution registered in luxembourg the china daily business weekly said
the five institutes issued a joint spring report in which three kiel hamburg and essen forecast a two pct rise in gnp in 1987 while west berlin and munich predicted one pct
the extension effects its exchange offers for 30 mln dlrs principal amount of 14 1 2 pct subordinated notes due 2000 and 35 mln dlrs principal amount of 14 3 8 pct subordinated debentures due 1995
the transaction is expected to be complete by june 11
the re emergence of inflation will result mainly from the fading of two factors which influenced the fall in the 1986 cost of living the steep decline in both oil prices and the value of the dollar the institute said in a report
international totalizator systems inc vice president of finance joel graff said he expects to report an improved first quarter compared to the 377000 dlr loss reported in the year ago quarter
within six weeks alot of countries could be out of business said one source
since the last meeting was only around four months ago the next talks could still be a couple more months he said
traders said the free market turned bullish during late last year based on producer forecasts of a supply demand deficit of some 28000 29000 tonnes
17
no other details were available
but the dominican republic and costa rica joined the splinter group which said it would agree to objective criteria
the government said in january it was aiming for real growth in gross national product this year of 25 pct but some economists have revised their predictions down to two or below
in that case we will ask them what they are doing to reduce the figure miti earlier asked makers to cut output of certain chips by 10 pct in first quarter 1987 spokesmen for the firms said
french february inflation confirmed at 02 pct
a similiar survey was made when the currency fell to the previous record low of 14998 on january 19
shr loss 405 dlrs vs loss 247 dlrs net loss 39598000 vs loss 24152000 revs 960 mln vs 879 mln note current year figures include 72 mln dlr provision for anticipated loss on note receivable 254 mln dlr writedown on asset carrying value and 85 mln dlr provision for future operating losses at elsinore shore associates
governments built up strategic stocks to 102 mln tonnes against 97 mln in the period
bangladeshs trade gap to widen in 1987 88
investors raise stake in purolator pcc 
rospatch to respond to diagnostic bid
owens corning fiberglas ocf sells foam unit
analysts said the budget was also positive for the share market despite an increase in the contribution of company taxation to revenue figures
note company said the figure is slightly lower because french branches have become group subsidiaries proposed net dividend on ordinary shares 100 francs including 20 franc supplement due to the exceptional character of results vs 719 francs
dealers said that because the borrower comes to market fairly infrequently the last time was about nine months ago the spread appears wide
among the recommended buys are schlumberger ltd slb halliburton co hal dresser industries di baker international bko and mcdermott international inc mdr which may be the target of a takeover by harold simmons a dallas based investor
miyazawa told a press conference the agreement reached last month in paris by six major industrial nations to cooperate in bringing about currency stability has prevented speculative concerns from being active in money centres
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
he said that as with the australian nuggets the coins would be legal tender
but does this mean the end of tightening for the time being definitely yes economists said average adjusted discount window borrowings of 385 mln dlrs for the latest two week bank statement period were lower than they had expected
iu international iu to sell insurance units
the selling concession is one pct while management and underwriting combined pays 1 2 pct
usda undersecretary daniel amstutz said this week that congress should give usda authority to keep the soybean loan at its current effective rate of 456 dlrs per bushel rather than increasing it to its minimum allowed level of 477 dlrs
shr 56 cts vs 35 cts net 10271000 vs 6425000 loans 144 billion vs 120 billion deposits 236 billion vs 196 billion assets 296 billion vs 255 billion
metro mobile cts inc said it declared a 10 pct stock dividend
scimed smls being sued for patent infringement
investor group has circle express cexx stake
a decline in gross margin percentage and an increase in the effective tax rate also contributed to the downturn ames said
oper shr profit 18 cts vs loss one ct oper net profit 387832 vs loss 29312 revs 6872630 vs na year oper shr profit 39 cts vs loss 23 cts oper net profit 835010 vs loss 441836 revs 208 mln vs na avg shrs 2135909 vs 1885909 note excludes gains of 378000 dlrs or 18 cts and 715000 dlrs or 33 cts in current qtr and year respectively from benefit of tax loss carryforwards
by 1988 overall revenue growth should rise to about 16 pct against 58 pct growth in 1987 and 24 pct in 1986 martin said
it would seem obvious that an offering would decrease the health club units debt increase its cash flow and operating income making it an attractive buy to a third party steven eisenberg of bear stearns said
that is why banking analysts have said citicorp cci felt emboldened to state early in the day that it might put brazil on a cash basis even before interest becomes 90 days overdue
barley cargoes were arranged from immingham to the red sea at 1725 dlrs and from foynes to jeddah at 1725 dlrs
president kenneth kaunda tried to abolish maize subsidies last december in line with imf recommendations but the move caused maize meal prices to double overnight and led to riots
texas air officials were not immediately available
calny inc said it has received an offer to be acquired by pepsico inc which already owns 99 pct of calny stock for 1150 dlrs per share subject to approval by pepsico and calny boards and calny shareholders
latest nine month results include one time charge of 109 dlrs share relating to us sprint
saturdays hog slaughter is guesstimated at about 30000 to 55000 head
commerce ministry officials told the import policy covered only commercial imports amounting to 1805 billion dlrs
canada agency sets first euro yen offering
americas interests require that agreements be honored and that us industries not bear the burden for the persistent unwillingness or inability of the government of japan to deliver on its commitments the trade group said
we will not discuss it
china has no official direct trade or government ties with seoul while it maintains close links with north korea
total investment this year the countrys second as a member of the european community ec will rise nearly 10 pct again the same rate as last year the central bank study said
he said that the company estimated between six and seven thousand cubic metres of domestic fuel oil gasoline and additives had been burned
when the winds drop the ocean seeking equilibrium sends a surge of warmer water back across the pacific where it collides with the cold seas off peru they said
uk exports body gets new executive director
shv says it making tender offer for up to 33 mln shares in ic gas
deficiency payments are calculated as the difference between an established target price and the higher of the basic loan rate or the national average price received by farmers during the first five months of the marketing year september january
stability in sterling versus the dollar continued to apply pressure to a market which is coming close to testing a psychological chart support base at 4200 stg traders said
bemis co bms 3rd qtr net
the conversion price has been set at 1590 yen the same as todays close
he said 56 nations pledged to bring their standards under the new system with about half expected to join the system by january 1988
royex on march 31 offered to buy four mln corona shares
qtly div three cts vs three cts prior pay march 13 record february 27
the previously announced float of part of its delhi interest will not now proceed csr said in the statement
arrivillaga said the first priority for the government would be to tap domestic sources of financing for the land transfer but external assistance could be brought in if there were gaps
television reports said that in the parana state capital of curitiba petrol stations were only supplying fuel for exceptional cases such as ambulances and funeral processions
world bank teams studying philippine loan requests
no details were given
french controlled schlumberger said yesterday it was ending the agreement because mounting political controversy in the us made it unlikely that the sale of the fairchild stake could be completed in a reasonable time
south africa banks agree on debt repayment plan
c i l inc said it would exercise its right to acquire trimac ltd s stake in their jointly owned tricil ltd for 91 mln dlrs with closing expected may 22
congressman urges wheat eep to soviet union
pakistan is likely to import 100000 tonnes of refined bleached and deodorised palm oil between april and june this year vegetable oil dealers said
moreover banks were forced to borrow a huge 52 billion dlrs from the fed on wednesday the highest daily total this year even though unexpectedly low treasury balances at the fed that day left banks with over two billion dlrs more in reserves than the fed had anticipated
shr 17 cts vs 10 cts net 408000 vs 237000 revs 8863000 vs 6738000 1st half shr 27 cts vs 15 cts net 647000 vs 356000 revs 172 mln vs 125 mln
numac oil nmc has 597 mln dlr financing
palmer told reporters after a cabinet meeting that the government had asked high commissioner rod gates to return from suva for discussions about other possible measures
thatcher told parliament that shortly we shall have more powers than we have now when for example the powers under the financial services act and the banking act become available then we shall be able to take action in cases where other countries do not offer the same full access to financial services as we do cable and wireless is seeking a stake in the proposed japanese telecommunications rival to kokusai denshin denwa
sharp shareholders will be offered cash shares or a mixture of the two in settlement
st
k mart corp said recent talks to sell 65 remaining kresge variety stores and their underlying real estate to fw woolworth co z have ended
futjitsu withdrew an offer to acquire some 80 pct of fairchild a semiconductor maker after us government officials expressed opposition to the transaction
it transports hazardous waste sand and gravel
bogart crafts corp vogt year loss
brazil is talking to bank creditors at miami during a meeting of the inter american development bank its first discussions with these creditors since it suspended interest payments last month on its 68 billion dlr debt to commercial banks
the upgrading reflects the companys significant improvement made in reducing debt since its 1985 acquisition of american hospital supply corp it said
shell canada a wholly owned subsidiary of the royal dutch shell group rd said that it raised crude oil prices by about 47 canadian cts a barrel today
chairman judson sinclair answering a shareholders question told the annual meeting that a special resolution passed by shareholders to create a new class of preferred shares would allow moore to move quickly if it decided to pursue an acquisition
shipments to the ussr in the second year of the agreeement amounted to 2887200 tonnes of wheat and 15750100 tonnes of corn
denomination is 1000 dlrs
1986 3rd qtr and nine mths includes sales of 35 mln dlrs and 107 mln dlrs
cardinal industries inc said it restated earnings for the first nine months of 1986 to 235000 dlrs or nine cts per share from 485000 dlrs or 18 cts reported previously due to the failure of an automated accounting system installed in mid year and replaced in the fourth quarter
zambias copper mining industry is hoping to achieve and maintain production at over 500000 tonnes a year in the next few years despite low world prices deteriorating ores and shortages of mine inputs industry officials said
the rate was four basis points lower than a month ago only one eighth the size of decline in the previous month the bank board said
in the mergers and acquisitions area the association advocated a ban on greenmail payments or poison pill takeover protection plans without prior shareholder approval
it proposes that applications for intervention be made through a certificate valid for execution three months later
it said the eberstadt venture capital funds and the citicorp accounts will receive warrants to buy 1666667 common shares at 60 cts each and two representatives of the funds will be named to the genex board
the kharg terminal attacked about 135 times since august 1985 was last raided in january
daub was joined by several other lawmakers
standard directors met at the companys cleveland headquarters on thursday in a regularly scheduled meeting
cpc international inc cpc qtly div
the action affects the equivalent of 168 billion us dlrs of debt
first union funco completes acquisitions
corn use totalled 993156 tonnes against 120 mln in december and 896718 a year earlier and its compounding ratio was 481 pct against 466 pct and 431 pct
each of the five locals has a separate contract that expired april 30 but the main issues are similar
crude oil prices could remain around 18 dlrs a barrel until the end of the year but opecs decision on output at its next meeting would be the critical factor an official of mexicos state oil company petroleos mexicanos pemex told a group of japanese businessmen
the state bank of victoria is raising 50 mln australian dlrs through a three year bullet eurobond at 14 1 2 pct and priced at 101 3 8 lead and sole manager commerzbank ag said
annual growth of private sector credit in calendar 1986 was 307 pct compared with 165 pct in the september year
the company stated its believe that chemlawn is obligated to permit it to compete with others to acquire chemlawn on a fully informed basis
the designation of ciba vision as an independent operating group underscores ciba geigys anticipation of continued growth macdonald told a group of reporters
the bonus of 187000 dlrs per head was made to esmah nevada inc and will be paid in the form of commodities from the ccc inventory
halcyon which said it has spent 201 mln dlrs for its purolator common shares said it also acquired options on feb 27 giving it the right to buy 50000 shares for 18 mln dlrs
lacombe refused to say whether the farmers felt that guillaume was doing a good job as farm minister
shr 24 cts vs 21 cts pay may 25 record may eight
the tender will consist of three lots of up to 70000 tonnes each for shipment may 1 30 may 10 june 10 and may 25 june 25 they said
richard lacy chief executive at exco international put average daily treasuries trading volume in london at about 15 billion dlrs
the broker said he saw no logical explanation for the prohibition because his firm only acted act as an intermediary between venezuelan brokers exchange houses and banks
the same procedures will be undertaken for the foreign clones indentified as nab 12 rrim 725 fx25 ppn 2444 ppn 2447 krs 21 and ppn 2058
us exporters report 100000 tonnes corn sold to algeria for 1986 87 delivery
there was no recorded rain in other grain producing provinces
the strike has cut exports and imports and made an estimated 160 ships idle
pioneer group unit gets more ghana gold land
standard and poors said it is reviewing mepc plcs two a rated eurobond issues totalling 125 mln stg for a possible downgrade
he said it was the aim of the partners to move as quickly as possible to eliminate uncertainty surrounding the stations
laidlaw transportation ltd said earnings per share for the current fiscal year should increase by substantially more than the 30 pct average annual growth experienced in the last four years
payment is due may 12 1987
cumulative imports now total 130804 tons it said
the 20 member committee agreed to open debate on the us complaint starting with informal consultations and then holding a special session in july trade officials said
it said this is the largest such program to date for a building society and the first to be denominated in us dollars
acme said the management group dropped its bid due to continued weakness in the machine tool industry and in acme precisions operating results and to the inability of the management group to obtain modifications to terms of its financing commitment
the convertible eurobond issue announced yesterday for genentech inc geneo has been increased to a total of 150 mln dlrs from 100 mln credit suisse first boston ltd csfb said as lead manager
coastal also said it will file detailed objections to the disclosure statement filed earlier by transamerican
but the edelman dominion group which has litigation pending against burlington also said it has held talks with morgan stanley about the possibility of settlement of outstanding matters among it morgan stanley and burlington
the communique said japan affirmed its intention to open domestic markets to foreign goods and services but did not elaborate
one month maturity rose 1 16 point to 6 3 16 pct two month 1 8 point to the same level and three and six month issues 3 16 point to 6 1 4 pct each
export growth has been revised downwards to 37 pct from 52 pct due to the pesetas continuing strength against the dollar and slack external demand
european community ec agriculture commissioner frans andriessen said his proposal for a tax of up to 330 european currency units per tonne on oils and fats was likely to go up for discussion at next weeks summit meeting of ec leaders
the investment includes the purchase of 360537 newly issued dim shares valued at about 51 mln dlrs and a loan of about 33 mln dlrs it said
the us agriculture department said private us exporters reported new sales of 900000 tonnes of corn to the soviet union and 350000 tonnes of corn switched from previously announced unknown destinations to the ussr
aside from the london branch of den danske and the arranger other dealers in the programme would be the swiss bank corp international and sg warburg and co ltd
pharmacontrol said it expects to make the payment due to revco from proceeds of a proposed offering of units consisting of convertible subordinated debenturers and common stock currently on file with the securities and exchange commission
non callable for seven years the issue is rated baa 2 by moodys investors service inc and a minus by standard and poors corp
it was the highest savings bond sales total for any march since 1978
in an article headlined gulf oil sources say middle east production up 14 mln bpd and markets witness new surplus amid whispers of return to cheating days it warned opecs official prices could face fresh pressure from international oil companies seeking cheaper supplies
carpet firm unit cuts allied products adp stake
american express also approved the previously announced plan to sell about 13 pct or 13 mln convertible preferred of the unit to nippon life insurance co for 538 mln dlrs
lucky stores says it and investor edelman reached standstill agreement
the new york firm will be known as deak international trading ltd the company said
there is a 1 1 4 pct selling concession and a 5 8 pct combined management and underwriting fee
union pacific corp said it has closed the previously announced 50 50 partnership with petroleos de venezuela sa venezuelas national oil company to own a 160000 barrel per day refinery in corpus christi texas
shr loss 12 cts vs loss 17 cts net loss 484556 vs loss 620607 sales 2167631 vs 1062837 avg shrs 3985924 vs 3935969 year shr loss 62 cts vs loss 52 cts net loss 2468605 vs loss 1788406 sales 6603285 vs 4650585 avg shrs 3983692 vs 3446348
shr nil vs nil net loss 77879 vs loss 65501 revs 3895741 vs 4872163 nine mths shr profit nine cts vs profit two cts net profit 488898 vs profit 118208 revs 130 mln vs 158 mln
pan am corp said its largest division the atlantic will report a first quarter loss that will be substantially lower than that reported a year ago
fekete said hungary would continue to restructure its debt profile by prepaying high interest shorter and medium term loans with cheaper long term money for which it was looking more and more to the fixed interest rate bond market where he considered rates to be low
bankers said the proportion of bank profits generated from the traditional financing of commerce and industry is falling and some have even been making a loss on these operations
it added some kind of debt relief and a new attitude on the part of the banks is necessary the communique added that debtor countries and banks have to explore new market mechanisms debt into equity swaps capitalization of interest and writeoffs
an investment group led by audio video affiliates inc said it raised its tender offer to acquire cyclops corp to 9250 dlrs a share from 80 dlrs a share
but western economists said they treat soviet productivity figures with caution as they are more broadly based than in the west which measures worker output over a given period
the shortfall will be financed domestically
japans liberal democratic party ldp has drawn up a detailed plan calling for large tax cuts and an increase in government purchases of foreign goods the head of the committee working out the plan junichiro koizumi said
merrill lynch in london said any further amplification on the sec charge against its executive nahum vaskevitch would have to come from the firmss new york office
talking to reporters funaro said this attitude would not help resolve the crisis started when brazil suspended indefenitely interest payments on 68 billion dlrs in external debt on february 20
in addition to making specialty metal products cyclops also operates about 115 specialty stores that sell consumer electronics products
oki is studying ways to increase imports by 10 pct in the fiscal year beginning april 1 from the previous years total of more than five billion yen a company official said
iels acmex unit to bid for cheetham
health properties hrp to buy properties
but he said that even if all obstacles were removed total trade between the two countries would remain between two and three billion dlrs a year
net loss car making 414 billion francs vs loss 1099 billion
india also granted the sellers options to sell twice that amount at the same price but for april may shipment
australian minister sees targeted oil tax strategy
at todays council session politoff said the us would try and find a way to pay the balance of about 50000 stg later this year
warner communications inc wci 3rd qtr net
among the main factors affecting liquidity bills maturing in official hands and the take up of treasury bills will drain some 338 mln stg while bankers balances below target will take out around 25 mln stg
metal traders a listed company was formerly pyrotech resources nl whose chief activity was the development and marketing of high technology smelting processes invented in australia notably the siromelt zinc fuming process
for the most part the trade bills provisions toughen us enforcement of trade laws
it also said miles its pharmaceutical and healthcare company recorded net income of 29 mln dlrs a 44 pct increase over 1985
the board oversees collection and distribution of funds from the checkoff program that was mandated by the 1985 farm bill
a premium charge of 1440 dlrs per contract per day would be assessed under the proposal
zambia mines copper at a relatively expensive rate of 69 cents per pound compared with 55 cents in the united states and under 40 cents in chile
however the company said net income was 1069 mln dlrs three pct below 1985
us imports of gold in december were 692700 ounces vs 2011754 ounces in november and 611811 ounces in december 1985
company stocks on land in the oecd rose to 326 mln tonnes on april 1 against 316 mln on april 1 1986
it said the frame would reduce vehicle weight and cost while maintaining structural integrity and crashworthiness
extra competition could cut management fees in the mark sector
investor david f
japanese semiconductor manufacturers have complied with the us japan agreement said shoichi saba chairman of the electronic industries association of japan
the price increase follows similar moves by usxs x subsidiary marathon oil and sun co sun earlier today
sumita welcomes us west german joint confirmation of louvre accord
this is the first time a japanese bank has bought a stake in a portuguese bank
it said it will explore all possibilities before recommending a final course of action
that authority lapsed in september 1986
analysts said jardine matheson made net interest payments of about 200 mln dlrs last year slightly below the 213 mln dlrs of 1985 while the companys term debt remained at about the 1985 level of 27 billion dlrs
hooper holmes sherlock inc hoop 4th qtr net
call money traded today at 385 95 pct up from 380 90 yesterday
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
it owns 13 banks a data services company a mortgage company and a trust company serving st
it said the dividend will be paid to shareholders of record march 20
but farmers who elect not to participate in the program are free to plant all the acreage they have
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
syntech interenational inc syne 4th qtr net
vaalian balance of payments in deficit in may
orion broadcast group inc said its majority owned orion financial services corp subsidiary has agreed to purchase fn realty services inc from ford motor co for 1200000 to 1500000 dlrs in cash and notes
the march 12 sale will raise 275 mln dlrs of new cash by refunding about 923 billion dlrs of maturing bills
period ended february 28 oper shr profit six cts vs loss 15 cts oper profit 474000 vs loss 1175000 revs 17946000 vs 9271000 note current shr and net exclude tax gain of 513000 dlrs or five cts share full name canadian satellite communications inc
japan has little new to offer in microchip dispute
partners call gencorp gy response unproductive
by contrast the personnel and fixed asset expenses increased
the reserve bank said m 3 money supply in march was 11077 billion australian dlrs compared with a revised 10911 billion in february and 9948 billion in march 1986
demonstrations by workers students and farmers whose demands essentially involve more government spending have become an almost daily occurrence
milton roy co mrc sets quarterly
shr profit 11 cts vs loss 145 dlrs net profit 267000 vs loss 3458000 sales 236 mln vs 230 mln first half shr loss 27 cts vs loss 191 dlrs net loss 633000 vs loss 4548000 sales 462 mln vs 497 mln avg shrs 2382000 vs 2381000 backlog 261 mln vs 360 mln
brodersohn said also agreement was close on the proposal for so called exit bonds whereby creditors can sell out their debt
comtech inc said it agreed in principle to sell 95 pct of its outstanding shares in premier microwave corp for seven mln dlrs
the new york times quoted senator don nickles of oklahoma as saying the study greatly underestimated potential us demand for imported oil in the next decade and overestimated the amount of domestic oil which would be produced
i think that is just for the benefit of the public walsh said of bank of montreals statement
dealings in cambrians securities have been suspended since late 1986 following the disclosure of insider trading activities by former chairman ivan boesky
us january business inventories rose 09 pct
also venezuela will sell the crude and provide the foreign exchange earnings to ecuador he said
the coupon was set at four pct compared with an indication of four to 4 1 4 pct
before the sale the government added the debt onto the british gas balance sheet
citibank na said it has cut its british base lending rate to 105 pct from 11 pct with effect from tomorrow
outflows for us direct investment abroad fell to 57 billion dlrs from eight billion dlrs in the third quarter
net profit before minorities 766 mln stg vs 628 mln
radix ventures inc 2nd qtr jan 31 loss
bushnell
qintex america ltd said it is again extending its offer of 13 dlrs a share for 33 mln princeville development corp shares until today from yesterday
they also share responsibility for finding lasting solutions local officials have payed great importance to weizsaeckers visit because they consider him a key backer of more flexible repayment terms for argentinas 51 billion dlr foreign debt latin americas third largest
the surprise escalation of attacks on oil installations broke more than a month long lull in iraqi air force action
the basic ideas of the ldps plan were presented to and welcomed by monetary authorities of the major industrial nations in washington last week they said
two affiliated investment firms and funds they control told the securities and exchange commission they raised their orient express hotels inc stake to 1663800 shares or 170 pct of the total from 1560800 or 159 pct
miyazawa said any change in economic conditions since the paris accord was not worth being called fundamental
belgelectric raises 300 mln luxembourg francs
dutch cost of living falls 12 pct in february
special bonus four cents vs nil
non callable for life the certificates are rated a top flight aaa by both moodys and standard and poors
in the underwriting syndicate are abn bank morgan bank nederland nmb bank rabo bank pierson heldring en pierson mees en hope van haften en co citicorp investment bank the netherlands and swiss bank corp int holland
these are encouraging factors but the war has not ended yet he said
amatil proposes two for five bonus share issue
the stock was down one today at 17 1 4 and down about four since thursday when ich announced it would be reporting lower than expected fourth quarter net income
1986 net includes results of operations of parmed pharmaceuticals inc acquired may 29 1986
its caused by a downturn in the commodity price for fertilizer whether its potash fertilizer nitrogen fertilizer or whatever
earlier this month irving rejected the bid as inadequate and said it wanted to retain its independence
only then will the banks know what theyve got he said
soviet 1988 grain target indicates 1987 output
shr profit three cts vs loss three cts net profit 363000 vs loss 197000 revs 3761000 vs 2666000 year shr profit one cent vs loss 37 cts net profit 129000 vs loss 1715000 revs 114 mln vs 109 mln avg shrs 10694081 vs 4673253
in an interview with lyng also said that he had no knowledge of any upcoming discussion of the matter within the cabinet
pakistan is not emerging as a major wheat exporter as world market prospects are not good enough sartaj aziz special assistant on food and agriculture to the pakistani prime minister said in an interview
spartech sptn sets reverse splitdebenture sale
buffton corp said it completed the purchase of b and d industruments inc for two mln dlrs cash and 400000 shares of common stock
one company official privately estimated that british telecom still had a 99 pct share of the uk telecommunications market but feared that this could slip to 95 or 90 pct
unicoa corp said it agreed to a merger with its wholly owned subsidiary united insurance co of america
this is a specific short term phenomenon rather than a wider trend the dealer said
don gingerich a delegate from iowa said to have unpredictable changes come along periodically makes it very difficult to plan and causes a lot of disruption other members said the farm bill has some imperfections but thats a price pork producers are willing to pay for legislative stability an nppc spokesman said
financial benefit group inc fbgia year loss
there will be a utilisation fee of five basis points on the revolving credit if more than 50 pct is used and a commitment fee of 75 basis points
qtly div 275 cts vs 275 cts prior pay march 31 record march 25
each note is convertible into one share
analysts estimate the unit could be sold for for 300 500 mln dlrs
he left the firm on november six last year to take over as president of upi
ramon diaz chairman of the presidential commission on good government pcgg told smc had offered a price of 126 pesos per share for the block held in trust by the ucpb
hb fuller co full 1st qtr feb 28 net
the securities which are available in denominations of 1000 and 10000 dlrs will be listed on the luxembourg stock exchange
shr loss two cts vs loss four cts net loss 44000 vs loss 85000 sales 370000 vs 299000 nine mths shr loss seven cts vs loss three cts net loss 134000 vs loss 56000 sales 1211000 vs 1069000 note prior nine mths net includes 10000 dlr loss on sale of marketable securities
he said the market interpreted this as indicating the us would favour a weaker dollar and it had little intention of intervening to support the currency
three d departments inc tdd sets payout
the commonwealth bank of australia said it will lower its prime lending rate to 175 pct from 1825 effective april 15
blackburn said the company would seek to generate further internal savings from rationalizing operations and personnel reductions
he did not say when the measure would become effective
bundesbanks schlesinger says no plan to cut discount rate nihon keizai newspaper
endevco inc said it has agreed to acquire a 175 mile 16 inch pipeline in marion and pearl river counties mississippi for undisclosed terms
hoogovens said the acquisition would strengthen its position as a supplier to industry of high value metal products
ceasars world says it is studying unsolicited 28 dlr per shr offer by martin sosnoff
there is one country which evidently still does not rosenbaum said in an obvious reference to brazil which has been negative recently on a reintroduction of quotas
texas american energy corp said its board has decided to again omit the quarterly dividend on its 2575 dlr cumulative convertible exchangeable preferred stock
ladd furniture inc said it has completed the previously announced acquisition of privately held colony house furniture inc for an undisclosed amount of cash and notes
in a weekend television interview us treasury secretary james baker sharply criticised a recent rise in west german money market rates and said the eight month old louvre pact to foster exchange rate stability needs to be reviewed
well have a substantial increase in earnings from continuing operations he told reporters after the annual meeting
rospatch corp said it rejected a proposal by diagnostic retrieval systems inc to acquire its stock at 22 dlrs a share
as a matter of timing it is regrettable that this has been linked with the question of market access in japan a toshiba spokesman told 
it is also considering selling off loss making state companies
the bill would require teams within six months to visit seven countries mexico philippines indonesia india bangladesh senegal and nigeria
dealers said they expected the pound to hold quietly steady for the next few days while the market awaits further developments on the dollar and this thursdays uk current account figures for february
poehl said germany had practically no growth in the past six months because of the marks surge and the cold winter
the usdas weekly export inspection report is expected to show a decline in soybean exports and steady to slightly lower corn and wheat exports according to cbt floor traders forecasts
it is not callable unless the share price exceeds the conversion price by 150 pct
chicago futures leader says markets can adapt
southern mineral corp smin 4th qtr loss
managing board chairman wolfgang habbel told a news conference he expected both profit and turnover to rise this year compared with 1986 but he said it was questionable whether 1987 profit would return to 1985 levels
john makin of the american enterprise institute suggested foreign tax cuts to increase demand and pick up the slack from the us trade deficit fall
2nd qtr shr four cts vs seven cts net 500000 vs 900000 revs 9200000 vs 105 mln 1st half shr four cts vs 12 cts net 600000 vs 1500000 revs 176 mln vs 208 mln note period ended february 28
we can say that we are achieving the recuperation of credit but that cannot be done overnight azpurua said in a television interview
electromedics elmd to take 1st qtr charge
the mueller sale is conditioned on receipt of 80 pct of the notes
feed prices at the end of january were reported 35 to 40 pct above year ago levels the department said
drexel burnham lambert inc bear stearns and co inc and ladenburg thalmann and co inc will underwrite the offering
shr loss 177 dlrs vs loss 1047 dlrs net loss 249 mln vs loss 1231 mln revs 1231 mln vs 1565 mln note1985 loss includes loss of 512 mln dlrs from discontinued operations
armstrong world industries inc said its gilliam furniture affiliate has purchased a 130000 square foot building in troutman nc for undisclosed terms
despite the figures the budget forecast of about 175 pct annual growth in employment would be met keating said
its in the dregs right now said bolster of the states drilling activity
prudential corp 1986 pretax profit 1781 mln stg vs 1101 mln
as long as its stake is over 10 pct it said it is entitled to sheldahl board representation
defence commitments continue to exert pressure on the expenditure side the 54876 mln cash would cover payments of 150 rupees per month for each family as well as handling transport and distribution of emergency food
waste management wmx hikes chemlawn chem bid
fab industries inc fit 1st qtr feb 28 net
the french government has limited cgct participation by foreign companies to 20 pct and set a price of 500 mln francs for the whole company
gmac australia finance ltd is issuing a 50 mln australian dlr eurobond due may 6 1991 paying 14 1 4 pct and priced at 101 pct sole lead manager hambros bank ltd said
officials of harcourt declined to comment citing a suit brought by british publisher robert maxwell whose has been trying to acquire harcourt
renato ugo a member of montedisons management committee told reporters that stanford research institute international of menlo park california had acted as a partner in the purchase itself acquiring a stake in pcri of under 10 pct
an extension of the sixth international tin agreement ita for one or two years beyond june 30 is increasingly likely international tin council itc delegates said following a special council session today
the agency cited ecolabs definitive agreement to acquire chemlawn for 370 mln dlrs
bethmanns chrobok said if anything is to happen before venice it must be in fiscal rather than monetary policy
rbd palm stearin may 275
there is a very strong argument in japan that since the united states is imposing tariffs unilaterally why should we bother doing anything he said
sources close to the organization told the pullout of growmark inc which holds more than 70 pct of the capital stock led to the call for dissolution
italian interior home markets have been active in recent weeks and traders said around 200000 tonnes have traded between dealers and home consumers
fed funds opened at 6 1 4 pct and remained at that level late this morning
australian crude output falls in first nine months
pep boys manny moe and jack inc pby 1st qtr
british petroleum co plcs announcement that its us subsidiary intends to tender for the 45 pct of standard oil co srd it does not already own catapulted us oil stocks sharply higher this morning traders and analysts said
for all of fiscal 1986 the company earned 410 mln dlrs on revenues of 6944 mln dlrs
london house inc londo year april 30 net
american aircraft buys into helicopter builder
australia sold 9824 tonnes to iran in 1985 after being virtually excluded by new zealand competition for several years
japans february exports rose to 1674 billion dlrs from 1489 billion in february 1986 and from 1465 billion in january the ministry said
the cost of living which includes rents and costs such as utilities and transport was up 78 pct in march from february to stand 948 pct higher than in march 1986 the fso said
libya reportedly bought white sugar
they are giving us the benefit of the doubt and i think they would like to leave the money here buttrose said
corrected american variety international inc 
as a result underwriters said retail investors would gladly sacrifice some of the yield spread over treasuries if they could buy debt issues at or below par
the company said it anticipated fiscal 1987 earnings to be lower due to withdrawal of its share offering computer equipment shipment delays and costs associated with sales staff expansion
the debtors have been performing well some people argue that taking 1 1 8 pct down to 13 16 pct is debt forgiveness
it is one of the proposals objectives to maintain current import levels he said
sales in 1986 represented 118 per cent of the european market share whipple said
ohio mattress co said it filed with the securities and exchange commission registration statements covering a 75 mln dlr issue of convertible subordinated debentures due 2012 and an offering of four mln shares of common stock
iraq reports raids irans nowruz oil field
the short term treasury certificate rates and especially the three month rate have been the national banks main monetary policy instrument for the last two years
ghana cocoa purchases slow
the bank of england said it gave the money market a further 663 mln stg assistance in the afternoon session
these rates compared with averages of 553 pct for the three and 563 pct for the six month bills sold last week
credit volume 4200 billion marks vs 4315 billion
the study forecast a decline in gross domestic product growth to 175 pct this year from an estimated two pct in 1986 and a small rise in consumer price inflation to 125 pct after last years sharp fall to 075 pct from 36 pct in 1985
the fields reserves could be sold domestically through thailands gas distribution network or by converting the gas to electricity the sources said
he told business executives the most important issues for the world economy are the correction of international trade imbalances and a solution to the world debt problem
first boston fbc swiss affiliate boosts stake
yesterday huttons pc acquisition corp subsidiary extended its tender offer which was to have expired at midnight for two more days
the work includes the construction of more than 70 buildings and associated infrastructure to accommodate the armys new 10th mountain division
jwt group inc disclosed in a filing with the securities and exchange commission that it awarded so called golden parachutes to 26 top officers
baker made it clear that he backed the decision by the paris club official creditors to reschedule loans to brazil even though the country later froze its payments to commercial bank creditors
lands end inc leys votes initial payout
the stake includes about 151 pct of revlon common and 95 pct of its series a preferred stock he said
kim said the swing of south koreas current account to a surplus of 465 billion dlrs in 1986 from an 890 mln dlr deficit in 1985 was very significant
san paolo di torino to acquire californian bank
it said it has contracted for perry gas cos inc to purchase natural gas from the well and perry will build a four inch gathering pipeline to connect to natural gas pipeline cos transmission line
i do not question canadas right to protect its political sovereignty or cultural identity
passenger car imports fell 600 mln dlrs because of an 18 pct decrease in the number of south korean made imported cars and a nine pct decrease from japan
soviet industrial growth trade slower in 1987
spokesman marlin fitzwater said the panel set up last october to examine us oil import needs would make its report soon probably within the next few weeks
labour unrest has worsened in brazil following the collapse over the last few months of the governments cruzado plan price freeze
gaf which made an unsuccessful attempt in 1985 to acquire union carbide corp uk recently offered three billion dlrs for borg warner corp bor a chicago manufacturer of plastics and chemicals
it really does not mean that he took the opportunity as it came up one official said
the company said the pipeline was recently constructed from the poplarville gas field in pearl river county to a proposed interconnect with a pipeline operated by occidental petroleum corps oxy united gas pipe line co subsidiary in marion county but has nmot been placed in service
partners call gencorp gy response unproductive
there is no prospect for any significant improvement in the unemployment situation over the next 18 months with the average rate expected to stabilize at 825 pct similar to last year
toepfer said in its latest report
the debentures can be redeemed at par at maturity and are callable at the companys option after the first two years
house speaker jim wright a texas democrat is one of the most influential proponents of aid for specific industries beset by low priced foreign competition
gencorp inc and continental ag of hanover west germany jointy announced they signed an agreement for continental to buy gencorps general tire inc subsidiary for 650 mln dlrs in cash
sosnoff now holds about 41 mln caesars world shares or 136 pct of the companys 30 mln shares outstanding
president reagans trade policy advisory group of which baldrige is a member will meet on the issue wednesday
delayed shipments from peru to mediterranean countries because of production and transport problems lack of spanish exports since the closure last year of cia la cruzs smelter at linares and lower output in morocco and greece have all meant additional demand being directed to merchants who in turn have been drawing on lme stocks
general public utilities corp said its three mile island unit ones power output has been cut to 81 pct of reactor power or 730 megawatts of electricity due to mineral deposits on the secondary or non nuclear side of its two steam generators
but growth was insufficient to prevent a rise in unemployment to 111 pct last year from 103 pct in 1985 the ministry said
british petroleum co plc said based on a feasibility report from ridgeway mining co its joint venture ridgeway project in south carolina could start commercial gold production by mid 1988
complaints about foreign trade restraints are not a smoke screen for protectionism they a plea for fairness rostenkowski said
cal fed income cfi buys two shopping centers
diagnostic said its bid was for a total 53 mln dlrs through a cash tender offer for all but not less than 51 pct of rosptach outstanding common
smartnames to buy american information network
the total consideration is valued at 1056 mln dlrs
once the registration becomes effective baltimore gas and electric will be able to issue debt on short notice as market or corporate conditions warrant
sime darby bhd six months to december 31
yield grade 2 3 beef cuts fabricated items vacuum packed
ended december 31 shr three cts vs nine cts net 220000 vs 721000 revs 4920000 vs 4184000 avg shrs 6425925 vs 6599000 note full name rada electronic industries ltd
standard chartered plc stchl faced with a recession in the key singapore and malaysian markets and an ongoing depression in the shipping industry boosted its bad debt provisions in 1986 chairman lord barber said
your propaganda and missstatements will not panic our board dart in its previous letter had alleged that supermarkets general executives were seeking millions of dollar in severance and tax payments from dart
the move had little effect with the dollar still testing 148 yen ahead of the official fixing
money market dealers speculated that the central bank could be taking the opportunity to signal a reduction in uk base lending rates by cutting the rates at which it intervenes in the discount market
the us also will oppose all ec efforts to impair us trade via the ec oilseeds regime which supports ec oilseed prices over the current market level and which may be extended to include a hotly disputed oils and fats tax samuels said
great western gwf to redeem debentures
yugoslavia has reached an agreement with western creditors on refinancing a portion of its 197 billion dollar hard currency debt
lpl indicated that at closing warrants will be sold which when exercised will reduce its stake in the subsidiary amphenol acquisition co to 60 pct the company said
meatpackers reject occidental oxy unit offer
computer associates international inc said its board has declared a two for one stock split payable may seven record april seven
fed funds opened at 5 15 16 pct and remained at that level
it said the dividend includes a quarterly dividend of three cts a share and a special payout of two cts a share which covers the period from november three 1986 when the fund began operations to december 31 1986
the full year earnings included a 900000 dlr net writedown of the hecks stake it said
cyclops employs about 8900 people in pennsylvania ohio and other states
ongpin outlined his plan today to the 12 bank advisory committee headed by manufacturers hanover trust co
no pessimism for german exporters ministry
anz bank sets one for two bonus issue
he said the ec not only ignored manilas request for lower tariffs on coconut oil but proposed a levy on vegetable oils and fats that are vital exports for southeast asian countries
hog and cattle slaughter guesstimates
there is absolutely no reason not to do so lawson said
he noted negotiations between mexico and gte sprint the forerunner of us sprint had been broken off by the september 1985 earthquake which had devastated the nations telephone network
engelhard corp ec said its japanese joint venture nippon engelhard ltd is constructing a new chemical catalyst manufacturing facility at its numazu complex and expanding its research laboratories at ichikawa
digimed corp 2nd qtr dec 31 loss
earnings in the first nine months were at the lower end of share analysts forecasts yesterday of a range of 600 mln to 620 mln dlrs
the country exports about 33 mln 60 kilo bags a year
economists say the systems fortunes now will depend largely on the success of an agreement last month among major industrial nations to stabilise exchange rates
corporate life insurance co a west chester pa insurance firm told the securities and exchange commission it has acquired 44600 shares of preferred stock in piezo electric products inc or 108 pct of the total
the tariff cut is very helpful for american suppliers who want to boost their exports to taiwan steve chen country director of the american soybean association told
stars to go inc said it completed its acquisition of 650 video centers previously owned by cvs international inc and located in circle k corp ckp stores
to provide health care protection for its retired employees allis chalmers said it proposed setting up a secure 75 mln dlr fund
alza corp said it plans to make an offering in europe of 75 mln dlrs principal amount of 15 year convertible subordinated debentures
shr 40 cts vs 41 cts net 1979000 vs 2101000 revs 677 mln vs 636 mln 12 mths shr 36 cts vs 20 cts net 1798000 vs 1034000 revs 2394 mln vs 2332 mln
subscriptions to 250 mln guilders were fully met amounts above 250 mln at 30 pct
the federal reserve is expected to enter the us government securities market to add temporary reserves indirectly via 15 billion dlrs or more of customer repurchase agreements economists said
partners on draugen are shell the operator with a 30 pct stake british petroleum co plc bpl unit bp petroleum development norway ltd 20 pct and state owned den norske stats oljeselskap a s statol statoil 50 pct
us retailers lackluster march sales were due to a late easter according to analysts who expect a recovery in april
florida temples 3400000 boxes vs 3400000 last month and 2950000 boxes in 1985 86
the other half of the loans were from first citys lead bank in houston
stone sto splits stock raises payout
sources said the government has may have already stepped up its borrowing having raised more than 18 billion marks
this means the jobless rate has stayed at 67 pct for three consecutive months the lowest reading since march 1980 the commerce department noted
quantity 1988 1989 1990 1991 first 350 tons 6000 4500 3000 1500 over 350 to 700 5750 4313 2875 1438 over 700 to 1000 5500 4125 2750 1375 over 1000 to 1500 5000 3750 2500 1250 over 1500 to 3000 4500 3375 2250 1125 over 3000 to 6000 3500 2625 1750 0875 over 6000 to 10000 2250 1688 1125 0563 over 10000 to 20000 0500 0375 0250 0125 over 20000 tons nil nil nil nil
rowe price associates with 22 billion dlrs in assets under management
treasurys baker says reagan unlikely to alter opposition to oil import fee
the companies include radio stations wkxc am and wwkz fm which operate in the new albany tupelo miss market and general masonry inc a contractor in the southeast
liquidity will be further tightened by the fortnightly treasury bill auction tomorrow and fridays hike in reserve requirements expected to absorb over 200 billion pesetas from the system
salomon incs tmc mortgage securities i plc unit is issuing 200 mln stg floating rate mortgage backed notes priced at par said salomon brothers international as co lead manager
in recent weeks mario vazquez rana has indicated that in light of the increased investment he wants to devote even more time to upi and to play a more direct role in managing its financial affairs benjamin said in a statement
hydro quebec is issuing a 125 mln canadian dlr bond due april 21 1997 paying nine pct and priced at 100 3 4 pct lead manager merrill lynch international said
trans lux tlx sets five pct stock dividend
suffield financial corp said it has received approvcal from the maine bureau of banking for its proposed acquisition of coastal bancorp of portland maine and the acquisition is expected to close around april one
supermarkets general currently has about 385 mln shares outstanding
aside from the g 5 session today bundesbank president karl otto poehl is due to meet the german affairs group on international monetary issues later
shr loss seven cts vs profit 12 cts net loss 662000 vs profit 1520000 revs 591 mln vs 631 mln six mths shr profit 23 cts vs profit 20 cts net profit 2802000 vs profit 2543000 revs 1385 mln vs 1267 mln
us military planners ruled out irans silkworm missiles as a target in the retaliatory attack mounted on monday for fear of being drawn more deeply into the iran iraq war defense and middle east experts said
shr 203 dlrs vs 153 dlrs net 1464 mln vs 1103 mln nine months shr loss 399 dlrs vs profit 462 dlrs net loss 2833 mln vs profit 3305 mln avg shrs 7108 mln vs 6926 mln assets 569 billion vs 507 billion deposits 304 billion vs 259 billion loans 263 billion vs 257 billion note nine month loss reflects 700 mln dlr increase in loan loss provisions
he said shade trees had been damaged by pests and this may have affected the crop though it remains to be seen how seriously
saunders resigned from his executive positions at guinness in january in the aftermath of a government enquiry into share dealings during the battle for distillers but retained his position on the board
atlantic city electric ate to redeem stock
yesterday usg sold 200 mln dlrs of same rated debentures due 2017 that were priced to yield 877 pct or 120 basis points over treasuries through a syndicate headed by salomon brothers
the company reported revenues of 154 mln dlrs and net income of 106 mln dlrs in fiscal 1986 ended march 26 1986
magellan a company without operations that was formed to acquire an operating entity said it plans to engage in the development and marketing of a battery charger product owned by balzac
but the ftc said fears of refiner owned stations as part of a scheme of predatory or monopolistic practices are unfounded
japan buys some 95000 tonnes soybeans from china
permian corp said that effective march 5 it raised its posted prices for crude oil 50 cts a barrel
the floating rate note sector basically ended easier following the increase in period eurodollar deposit rates prompted by the prime rate increases dealers said
highveld said it expects appreciation of the rand will be offset to some extent by increasing us dollar prices for its exports as the year progresses
the company which went public in march 1985 earlier reported losses for the fourth quarter
the pact agreed last year calls on japan to stop selling cut price chips in world markets and to increase its imports of american chips to reduce some of its huge trade surplus
its my view that we should be thinking about these things right now along with the questions of the substance of the agreement commented ontario premier david peterson who has been highly critical of the talks in the past
shr 37 cts vs 42 cts net 266 mln vs 300 mln sales 8054 mln vs 6906 mln avg shrs 706 mln vs 710 mln nine mths shr 123 dlrs vs 123 dlrs net 868 mln vs 885 mln sales 230 billion vs 201 billion avg shrs 703 mln vs 722 mln
the tokyo stock exchange said in a statement it is considering reducing brokerage fees on yen convertible bonds
however most of the members did not want to rule out the possibility of some slight easing during the inter meeting period although they did not view the conditions for such a move as likely to emerge the fomc members assumed that future fluctuations in the dollars value would not be of sufficient magnitude to have any significant effect on the feds economic projections
showboat inc said its board declared a two for one stock split payable to shareholders of record on may 15
the company said the order includes 140 m809 series five ton trucks and 40 m44a2 series 2 1 2 ton trucks
the final decision will be left with the biffex board which will meet at the end of this month he said
london traders said yesterday the rebate was the largest ever granted
world animal health experts called for a campaign to eradicate the lethal cattle disease rinderpest in bangladesh bhutan india nepal and pakistan a statement from a food and agriculture organization fao meeting here said
ecuador posted a trade deficit of 713 mln dlrs in the first eight months of 1987 compared with a surplus of 4686 mln dlrs in the same period of 1986 central bank figures show
the council had been closed three years ago by the military government of former president joao figueiredo
us sugar imports down in week usda
us exports of soybeans and products to the ec account for one fifth of annual production and are worth about 25 billion dlrs a year bennett said
safeguard scientific sfe unit buys subsidiary
the expansion program is expected to cost a total 54 mln dlrs
the adelaide steamship co ltd adsas adsteam said it will subscribe to 30 mln shares in listed british property developer markheath securities plc at 60p each subject to shareholder approval
ecuador expects oil production to be suspended for four months as a result of the damage and has asked venezuela to help by supplying 50000 barrels per day while the pipeline is repaired
fiat unit fidis reports sharply higher 1986 profit
routine sales of butter were made
concern that finance ministers and officials still in washington could issue more concrete statements in favour of currency stabilisation kept players sidelined along with worries about provoking fresh central bank intervention in the long term the traders said
but finance minister domingo cordovez said two days ago the government is seeking to postpone all payments due to private foreign banks in 1987 until next year through negotiations with creditors
the commodity credit corporation ccc has accepted a bid for an export bonus to cover the sale of 380 head of dairy cattle to kuwait the us agriculture department said
earlier this week transco energy co t rejected the ferc guidelines saying it would not offer open access until the regulatory body offers a solution to the exposure it faces for gas it has bought but could not sell
liberian ore carrier in collision in river elbe
canbra earlier reported 1986 net earnings of 42 mln dlrs excluding a 13 mln dlr gain on the stafford sale compared to a year ago loss of 15 mln dlrs
the sources noted the operators could withdraw their offers in the five week period between the acceptance of the sugar and payment for it
poehl says german and international interest rate rises are cause for concern
liberalisation went one step further last week when parliament passed a law encouraging companies to go public
european beet plantings seen little changed
tel offshore trust teloz ups quarterly payout
kurzweil music systems inc said it has taken steps this year to reduce costs including a 10 to 15 pct reduction in its work force
first republic bank dallas cuts prime rate to 925 pct from 975 pct effective today
pentland said 4500000 shares of rebbok will be offered in the us by a syndicate led by kidder peabody and co inc and 1500000 shares will be offered outside the us by an international syndicate led by kidder
sims said it was clear that wood products such as furniture tables and window frames would be considered manufactured goods and therefore ineligible for export credit guarantees
bnl said last week it had appointed another member of the board to take on the role of vice president temporarily
union texas said it planned to spend about 42 mln dlrs over the next two years to develop its eugene island block 371 in the gulf of mexico
the debentures are convertible into the companys common stock at 2761 dlrs per share representing a premium of 255 pct over the stock price when terms on the debt were set
at year end it held 145 mln us dlrs enough to meet all 1987 repayments
qtly div nine cts vs eight cts in prior qtr payable march 31 record march 13
signet banking corp sbk 3rd qtr net
foundry
indian state company bonds provoke complaints
india reduces export duty on coffee
shr profit three cts vs loss 18 cts net profit 124000 vs loss 370000 rev 113 mln vs 117 mln avg shares 3673000 vs 2368000
meatpackers strike morrell sioux city plant
us minerals usmxo commissions new gold mine
the company said it has no present plans to issue any of the shares which may be repurchased
south african year on year producer price inflation fell to 149 pct in january against 164 pct in december central statistics office figures show
zimbabwes reserve bank the nations central bank has denied the zimbabwe dollar would be devalued
lukman asked about industry reports that nigeria was being pressured by equity producers for better terms said it was important to know that terms with them were negotiable flexible and under constant review not only when the market seemed weak
there were already indications that baker who throughout his time in government has relied on a closely knit circle of advisers has moved swiftly to find a successor
ute geipel economist with citibank ag said if the bundesbank became more accommodating in monetary policy raising fears in some quarters of a return in inflation in the medium term unions would be obliged to curtail wage demands
terms were not disclosed
patten corp said it called for redemption on may one its outstanding 23 mln dlrs of 7 1 4 pct convertible subordinated debentures of 2001
bankamerica bac says it will make debt offer
the settlement also calls for the withdrawal of edelmans motion to intervene in pending shareholder actions against lucky stores and its directors the company said
after conversion of the unisys interest control data will own 80 pct honeywell inc hon 14 pct and bull sa of france six pct it said
french machinery maker poclain 40 pct owned by tenneco inc said it will raise its capital to 791 mln francs from 91 mln by a 100 for 13 rights offering to shareholders priced at par of 10 francs a share
meals and feed on a cif rotterdam basis opened quietly this morning with mixed to slighlty firmer seller indications compared with yesterdays midday levels market sources said
goldome is the largest mutual savings bank in the us cityfed said it decided to sell its consumer lending offices outside its main market areas in new jersey and florida to concentrate its resources to these markets
that is 30 basis points more than the yield of comparable treasury securities
it would be foolish not to be a player there he said
warburg pincus capital co lp an investment partnership said it told representatives of symbion inc it would not increase the 350 dlr per share cash price it has offered for the company
the shipping sources said irans sassan rostam and rakhsh offshore oilfields were attacked at 0700 local 0300 gmt by a wave of jet fighter bombers
the company named bear stearns and co as lead underwriter of the offering
the central bank bought bank bills outright comprising 51 mln stg in band one at 9 7 8 pct and 135 mln stg in band two at 9 13 16 pct
braverman said tax law changes and inventory accumulation helped lift fourth and first quarter gnp growth respectively
the rise is coming from a sharply lower dollar higher oil and energy prices and rising prices for services he said
aug 31 shr loss 34 cts vs profit 39 cts net loss 2337000 vs profit 2532000 revs 661 mln vs 585 mln avg shrs 7166000 vs 6763000 12 months shr profit 26 cts vs loss 120 dlrs net profit 1815000 vs loss 7927000 revs 2643 mln vs 2297 mln avg shrs 7005000 vs 6621000 note results include pretax restructuring provisions of 42 mln dlrs and 225 mln dlrs for 1987 and 1986 respectively
metex mtx chairman sells shares
digital communications associates inc dcaio said it has entered into an agreement to acquire substantially all the assets of fox technology incs fox research inc subsidiary
american video is a closely held company operating video rental concessions in post and base exchanges at 54 army air force navy and coast guard installations
enterra en credit line cut
regency electronics inc rgcyo 1st qtr net
the company said the deal is subject to the execution of a definitive purchase agreement
the drop in soybean meal consumption resulted from increased use of cheaper rapeseed meal the officials said
at the same time porsche has hedged its dollar denominated business for the 1986 87 business year finance director heinz branitzki
ortner who stressed he was expressing personal views said he thought the us dollar was fairly priced against most european currencies and added i do not regard the dollar as undervalued at this point against the yen he said
chronar corp crnro year loss
western trade sources told taiwan and the us have been holding talks on the currency issue but added it is not clear how far washington wants to see the taiwan dollar rise
mexico is due to sign a 77 billion dlr loan on friday that will be the first major facility under the baker plan which called for net new bank lending between 1986 and 1988 a target that morris goldstein of the international monetary fund said is now optimistic
us m1 falls 600 mln dlrs in march 2 week feb m2 down 16 billion m3 up 30 billion
gnp rose 125 pct in calendar 1986
the trucking company attributed the loss to the continued rate of discounted in its primary markets flat revenues and increased costs including uninsured claims expense resulting from adverse weather conditions during the last three months
it said under the plan shareholdrs of record as of april 21 will receive a right to purchase under certain circumstances at a price of 42 dlrs 001 preferred share for each common share held
transfer to trades union holding co 80 mln marks vs 80 mln
western donors were asked to contribute 46 billion dlrs with the rest being raised from local resources but adedeji said the donors had not responded as hoped
icahn says he is target of sec investigation
it said the cfs and wolf plants are expected to be contributing to profit by the end of the fiscal year and it is seeking to bring the west texas operations to acceptable levels of profitability by the end of the fourth quarter as well
its part of a trend towards growing capital participation by japanese insurance firms in foreign financial institutions said simon smithson an analyst with kleinwort benson international inc in tokyo
company is owned 4699 pct by elders ixl ltd elxas
shr nil vs one ct net 59608 vs 95909 revs 2921629 vs 2918682 avg shrs 7062172 vs 7273020 year shr loss 122 dlrs vs profit 27 cts net loss 8812432 vs profit 1847560 revs 3070327 vs 3195710 avg shrs 7187941 vs 6828368
the october trade deficit narrowed to 3636 mln dlrs from 160 mln in september and 8379 mln in october 1985
the company said the sale will not materially offset the 9848000 dlr non recurring charge it took against the sale of the division
datacard datco adopts dividend rights plan
omb deputy director joseph wright said the administration this year plans to turn over to private credit rating firms data on about 35 mln deadbeats who are seriously behind or in default in their payments on federal loans
integrated resources ire files note offering
the fed may be lowering its own inflation expectations today said robert brusca of nikko securities international
standard and poors said weaker international competitiveness in the face of rising labour costs would mean a deteriorating current account balance and a rise in external debt
the company said the transaction is still subject to regulatory approvals
leigh pemberton also called on companies to improve ties with institutional investors suggesting representatives of those institutions be granted seats on the boards of directors of companies they invest in
the analysts agreed the bank was aggressive
the total cost of the program announced today is about 334 mln dlrs of which the iadb loan will cover 299 pct
shr 11 cts vs 13 cts net 1037690 vs 1270460 sales 101 mln vs 9215836 six mths shr 25 cts vs 31 cts net 2319376 vs 2930507 sales 212 mln vs 189 mln
leading cocoa producers are trying to protect their market from our product said a spokesman for indonesias directorate general of plantations
he was speaking to reporters at a sony factory opening here
congress also has been been angered by the administrations lack of success with japan on a host of other trade issues including beef citrus automobile parts telecommunications goods and financial services
alliant said msc nastran is used for finite element analysis particularly in the automotive and aerospace industries
archer daniels adm denies rumor
consumer spending declined 06 pct and government spending by 02 bob edgar of the australia and new zealand banking group ltd said the governments aim of reducing the current account deficit by boosting exports and lowering consumption to cut imports appeared to be working
bilfinger und berger bau ag gbfgf expects group construction output in 1987 to fall to around 25 billion marks in 1987 from 273 billion last year and sees foreign business stabilizing just under its 1986 level
fed officials said an identical proposal was being issues today by the bank of england
the non callable bond is available in denominations of 1000 and 5000 australian dlrs and will be listed in luxembourg
temco service industries inc said its proposed buyout by chairman herman j
the philippines negotiations resumed in early march and agreement now appears to be very near mulford told a debt conference organized by the euromoney magazine
sierracin ser pays debt gets new loan pact
the company today reported 1986 earnings of 2713912 dlrs up from 1402696 dlrs in 1985 and revenues of 987 mln dlrs up from 679 mln dlrs
world trade conditions are getting better not worse he said
shr 56 cts vs 63 cts net 48500000 vs 55400000 sales 153 billion vs 146 billion avg shrs 866 mln vs 873 mln nine mths shr 173 dlrs vs 179 dlrs net 150300000 vs 156200000 sales 460 billion vs 430 billion avg shrs 867 mln vs 873 mln note 1987 results include gain of 97 mln dlrs or 11 cts a share from sale of assets 1986 results include gain of 161 mln dlrs or 18 cts a share from sale of assets offset partly by a restructuring provision fiscal 1987 results restated to give effect to adoption of financial accounting standards relating to pension costs
duffour et igons capital is comprised of 133100 shares with a nominal value of 100 francs each
new zealand may buy us wheat usda
as long as those price rises do not become entrenched in cost of living adjustments contained in labor contracts thus reducing international competitiveness then the federal reserve would probably be willing to tolerate four pct inflation said larry leuzzi of sg warburg and co inc
the commitment rate on adjustable rate mortgages declined by 16 basis points in the same period bringing the average rate to 85 pct the bank board said
as a result of the settlement a special committee of the board of directors of cts stopped soliciting offers to buy all or part of the company it said
inflation which was running at 21 pct at the end of 1986 is likely to rise to 29 pct at the end of this year ipecode said while the government has forecast 25 pct
japan will continue to cooperate with other nations to stabilize dlr sumita
oper shr 16 cts vs 29 cts oper net 453924 vs 726816 revs 120 mln vs 112 mln avg shrs 2695206 vs 2562160 year oper shr 50 cts vs 50 cts oper net 1365655 vs 1268847 revs 401 mln vs 331 mln avg shrs 2695206 vs 2562160 note net excludes tax credits of 571000 dlrs vs 496000 dlrs in quarter and 1347000 dlrs vs 1107000 dlrs in year
administration opposition to the deal also stemmed from ongoing trade tensions between the united states and japan officials said
william blair and co and mcdonald and co will manage the underwriting group baldwin said
previous results reported from texas eastern corps tet petrolane inc domestic division
1986 net includes extraordinary gain of 74 mln dlrs or 72 cts a share versus 80 mln dlrs or 78 cts a share in 1985
cetec corp cec 4th qtr net
british bauxite vessel grounded in orinoco river
honduras seeking vessels for bulk wheat shipment
vista management inc said it has agreed to acquire general energy development inc for over 2200000 dlrs in cash with financing to come from mortgage loans on the national auto service centers general energy operates
weyerhaeuser principally a lumber products company said the forecast was made by the companys chief financial officer during a meeting of institutional investors in tokyo
english said wppss had no indication when the sec might meet on the staffs recommendations
nissen said that market makers had agreed unanimously with the banks view that auctions would be more easily conducted on a price basis rather than based on yield
the preferred shares were immediately retracted for cash the company said
a spokesman said no specific figures had been forecast
among the numerous problems of a huge centrally run economy entering a free trade system are tariffs and reciprocity and the expectation that china will practice an open trade policy without trade discrimination de clercq added
in addition the standstill provisions also apply to hancock fabrics after it is spun off to lucky stockholders the company said
mds health group limited in qtly payout
chairman david barnes said the loan charge offs and increased provisions address four areas of concern in the banks wholesale lending portfolio the energy sector developing countries some basic industrial companies and several commercial real estate businesses
trinity industries inc trn sets quarterly
the maximum export rebate granted at yesterdays ec sugar tender marked no change in policy over producer complaints that they are not obtaining the ec intervention price in exporting sugar outside the community ec commission sources said
holiday corp said the new jersey casino control commission has approved its recapitalization plan providing the final regulatory approval needed
a further appreciation of the mark could even be an obstacle to further growth he said
the fed is faced with a large seasonal adding requirement said ward mccarthy of merrill lynch and co inc who expects a permanent bill purchase next week and a coupon purchase in early april
french officials said a major aim of chiracs visit was to present frances concern that the united states might ignore european security interests in any accord with moscow on removing medium range nuclear missiles from the continent
soybean acreage amounted to less than two mln acres of the non program crop acreage enrolled a usda analyst said
cyclops corp said its board rejected a request by cyacq corp an investor group for more non public information about cyclops a maker of specialty steels and an electronics retailer
merrill lynch says it suspends nahum vaskevitch head of london mergers department
amoco an says dome dmp buy good for canada
at a meeting in paris last month britain canada france japan the united states and west germany agreed to cooperate to hold currencies at around current levels
the bank said the money supply growth reflected a net increase of sight deposits and renewed interest in money market instruments
merrill lynch canada inc wholly owned by merrill lynch and co is considering acquiring another canadian securities company as the result of federal and provincial government moves to lift investment dealer ownership restrictions on june 30 according to a published report
british sugar plc was forced to shut its ipswich sugar factory on sunday afternoon due to an acute shortage of beet supplies a spokesman said responding to a inquiry beet supplies have dried up at ipswich due to a combination of very wet weather which has prevented most farmers in the factorys catchment area from harvesting and last weeks hurricane which blocked roads
it said it has agreed to make a multiyear multimillion dollar commitment to genecor research products related to food additivies and pharmaceutical intermediates
there is a 10 basis point utilisation fee if the underwriters are required to pick up more than 67 pct of the paper issued and a five basis point fee if they are to pick up 34 67 pct of the paper
hearings were completed in february and a decision by the british columbia utilities commission on the 60 mln dlrs purchase by utilicorp is pending he said
bp said in a statement the 70 dlr a share price was based on its own valuation as well as those of its financial advisers
the statistics in it about pork do not reflect the hog of today which is about 50 pct leaner than it was 20 or 30 years ago thanks to genetic improvements and better feeding practices kline said
he said the government then began importing refined sugar at world market prices and reselling it at a huge profit and the provisional military civilian government that replaced duvalier last year continued the policy
investor boosts first western fwes stake
the european commission has not taken a decision on applications from the british government for the release of 200000 tonnes of intervention feed wheat onto the british market in may and june commission sources said
the oil services industry is on the verge of a recovery because of rising crude prices oil industry analysts said
shr nil vs loss six cts net loss 6319 vs loss 265651 revs 1117778 vs 1090001 avg shrs 6874383 vs 4323614 year shr nil vs loss 10 cts net profit 4323 vs loss 432458 revs 4711350 vs 4256708 avg shrs 6837871 vs 4322816
it said proceeds have been placed in escrow pending the outcome of talks with lenders
dudley taft to pursue taft broadcast tfb bid
but their unwinding on maturity dates started in october last year had almost been completed
rjr nabisco rjr files 500 mln dlr debt offer
ongpin says pins will revive baker plan
if that level is broken and the dollar continues to decline keefe said she expects the june bond contract to decline to test support between 92 and 93 the primary uptrend line dating back to 1984
statistics published by the monthly journal foreign trade showed soviet trade turnover for 1986 fell to 1309 billion roubles from 1421 billion the previous year a drop of 78 pct
it said the imports will be used to rebuild the federal reserves and as a result will not be subject to import surcharges
britoil plc 1986 pre tax profit 134 mln stg vs 759 mln
asked what the us state departments policy is on offering subsidized wheat to moscow secretary of state george shultz told a group of farm leaders that us products must be competitive in the world market
australian beef output declines in january
the company named lazard freres and co as lead manager of the deal
the project was due to start in 1986 but problems over plans to sell some alumina to bulgaria caused delays
italys bnl negotiating purchase of german bank
if they do come into the market at this level it will go lower and you could breach a dollar ninety or eighty cents he said
sure consumers may have spent less on winter clothes or heating apparatus because of the warm winter this year but they have done so because they have become even more uneasy about their future pay rises said shoji saito general manager of mitsui banks economic research division
soybean groups meet with lyng to discuss loan
the bank of england said it has revised its estimate of todays shortfall to one billion stg before taking account of 646 mln stg morning assistance
chubb corp said it completed the previously announced acquisition of sovereign corp
under ec regulations however operators have another four to five weeks to withdraw the sugar from intervention before payment is made for it
some gulf sea captains were reported to be steering well clear of irans silkworm missiles however and frontline emirate kuwait redeployed air defences to counter the threat
spar aerospace ltd reporting a sharply lower 1986 profit said it anticipated solid profit and revenue growth during the next five years
the company said the split would increase the number of authorized common shares from 440000 to 2200000 shares issued
trans lux is a connecticut concern that leases teleprinters and display units in brokerage offices airports and other public places
the idea found some quick copies
global petroleum gnr ups heavy fuel prices
firm has allegheny intl ag preferred stake
since 1973 the us has given israel 25 billion dlrs in aid but most of it went to defense expenditures and financing military conflicts which were imposed on israel he said
he said some 75 pct of the money supply increase in 1986 was caused by a sharp rise in the inflow of foreign funds
shr loss two cts vs profit six cts net loss 103000 vs profit 319000 revs 4357000 vs 6494000 avg shrs 5415185 vs 5646185 year shr profit 22 cts vs profit 10 cts net profit 1236000 vs profit 570000 revs 222 mln vs 248 mln avg shrs 5638596 vs 5646185 note 1986 net includes tax credits of 30400 dlrs in quartger and 58000 dlrs in year
uk intervention feed wheat tender result awaited
japan 1986 87 compound feed output up 23 pct
live cattle rally as lockout at meat plant ends
after china other important state trading countries including the soviet union will probably demand accession
the central bank has to go in this direction said su han min chief economist with the international commercial bank of china
cable and wireless plc cawll said it will merge its hong kong telephone co ltd telhhk and cable and wireless hong kong ltd units into a new holding firm to be called hong kong telecommunications ltd under the merger hk telephone shareholders will receive two hk telecommunication shares at a par value of 50 hk cents for each hk telephone share at par of one dlr
the energy sector saw a slight 1 2 pct rise the ministry added
louis dreyfus 4500 tonnes number three yellow corn 150 pct maximum moisture for april 10 may 5 at 7609 dlrs fob gulf
c sales made on exporters own account
the central bank purchased bills for resale to the market on april 2 at an interest rate of 10 15 16 pct
ivorian officials last week said bra kanon was due to return home for funeral ceremonies for a sister of ivorian president felix houphouet boigny march 19 22
the net loss per share was 24 cts compared to a net loss of 99 cts per share last year
calny earned 1192000 dlrs on sales of 562 mln dlrs for the nine months ended november four
weather forecasts say winds may ease during the weekend but a further drop in temperature could bring shipping to a standstill the officials said
hewlett packard said it cut the price for its vectra pc model 50 to 3995 dlrs from 4695 dlrs and lowered the price for its model 60 to 4795 dlrs from 5495 dlrs
banking sources said that one reason for the increase was that vneshtorgbank had been very impressed by the relatively low cost of financing by means of eligible bills rather than through more traditional instruments priced in relation to london interbank offered rates libor the facility is vneshtorgbanks first ever sterling denominated bankers acceptance facility
indonesia relied on oil and gas exports for 70 pct of its export revenue until last years fall in crude prices
the company also reported that george elkas formerly executive vice president has been named president and chief operating officer of flexi van corp while william burns has been named executive vice president of flexi van
this has increasingly been the case recently because non banks have received considerable sums from current account surpluses and capital imports
the international monetary fund which recently reviewed the yugoslav economy is said by western diplomats to be alarmed at what it sees as a deteriorating economic crisis here and the possibility of balance of payments problems later this year
1987 3rd qtr and nine mths has 29 mln and 74 mln dlrs for tax credits
salvage workers have moved cranes into place alongside the wreck of the 7951 ton roll on roll off ferry which now lies partly submerged on a sandbank outside the harbour
usg taiwan 54000 mt hss 10000 shex 4000 shex 20 4 5 5
after months of haggling a proposed rescheduling agreement for mexico was struck last september during the annual meeting of the world bank and international monetary fund in washington
basix corp said it has agreed in principle to sell the stock of its automatic toll systems inc subsidiary to cubic corp for about 26 mln dlrs
cornucopia resources ltd said an extensive drill and sampling program will begin in mid april at its ivanhoe gold property in north central nevada
shr 31 cts vs 53 cts net 960143 dlrs vs 1631011 dlrs revs 274 mln dlrs vs 189 mln dlrs avg shrs 3079533 vs 3096095 12 mths shr 101 dlrs vs 92 cts net 3113337 dlrs vs 2855755 dlrs revs 1065 mln dlrs vs 783 mln dlrs avg shrs 3079516 vs 3089140 note per share amounts for qtr and year prior have been restated to reflect a six for five stock split in august 1986
importing and exporting countries agreed several changes to make the reference price more responsive to market trends and they eliminated provisions under which the buffer stock could borrow from banks to finance operations
we expect that once the term sheet is received and analysed by the banks it will be approved in a relatively short time azpurua said
japanese primary aluminium imports rose to 98170 tonnes in february from 91157 in january and 94926 a year earlier the japan aluminium federation said
keating said the overall impact of the changed economic parameters is welcome as it appears to have contributed to a slightly more rapid correction in the current account deficit than first anticipated
the late season harvest consisting mostly of valencia oranges has not yet started he noted
the non callable bond is available in denominations of 1000 australian dlrs and will be listed in london
disclosed shareholders funds 365 mln vs 286 mln disclosed capital resources available 626 mln vs 467 mln
as part of its contribution japan plans in april to fundamentally improve its generalised system of preferences for industrial and mining products to make japans domestic market more open to developing countries he said
current quarter net includes 47470 dlr tax credit
we sold high cost producing assets
toledo and chicago elevators were finishing loading the first corn boats of the new shipping season supporting spot basis values at those terminal points
although very low oil prices such as those seen around the beginning of the year may appear beneficial for the industrial countries that depend on imported energy they would only lead to wastage and overdependence on the fuel in the long term he said
april 75250 south and central 751 north average 75250 down 650
canadian bank rate rises in week
kollmorgen corp kol 3rd qtr net
most recently the fob price was set at 87 pct of the 1752 dlrs per barrel government selling price gsp of arabian light
he said bat was looking to expand in the area of financial services in particular in the us sheehy also said the group had no sizeable acquisitions in sight in the near future
this grade is not warranted said crowns rosenberg
japanese investor interest in british gilt edged securities is growing rapidly due to expectations sterling will remain stable despite the drop in oil prices and on calculations gilt prices will firm bond managers said
there was not much reaction among bank issues today though prices are still below par still market watchers said the action further undermined sentiment for bank paper
qtly div 25 cts vs 25 cts prior pay july 1 record may 7
indonesia plans to build palm oil terminal
the coupon will be fixed on april 8 while the conversion price and foreign exchange rate will be set on april 9
merrill lynch and certain affiliates have committed to provide 200 mln dlrs in av holdings equity and 870 mln in subordinated financing and forward underwriting commitments
co leads are mitsui trust international and pru bache securities international
they are responsible to their shareholders and they have to make their decisions on their own
he ongpin wants to finish the negotiations as fast as possible
orion broadcast obgio buys ford f unit
he also said he is not very optimistic about the ongoing negotiations to buy 50 pct of tricil ltd a toronto based chemical and solid waste services company with canadian and us operations from trimac ltd of calgary
the analysts said sumitomo will have to devote a lot of time to digesting its most recent initiatives including the merger with ailing heiwa sogo
the company said the acquisition is subject to approval by both boards
weve no plan to bid blair told reporters after a speech to a business group although he stressed that nova and 57 pct owned husky oil ltd hyo were interested in domes extensive western canadian energy holdings
tvx broadcast group inc tvxg said it has completed the previously announced purchase of five taft television stations
traders said cash sales have been slow in the country and the soybean harvest in brazil has been delayed by rain which is limiting supplies
kilo gold 21 lots
pan am corp pn 4th qtr loss
management believes that sufficient resources should be available to cover interim capital concerns while additional capital is being sought the bank said
the maker of foam cups food containers and other products said it had 733332 outstanding preferred shares which had been privately placed
the issue will be partly paid with 25 stg pct payable on acceptance and the balance on july 1 1987
shr 38 cts vs 47 cts net 2253664 vs 2806820 revs 5173318 vs 5873904 note 1987 qtr includes 126117 dlrs or two cts per share from gains on sale of property vs gain 29812 or less than one cent per share for prior qtr
he was responding to questions about comments by baker who said the louvre accord was still operative but criticised rises in west german interest rates
it said closing is subject to the approval of title assignments by the french government
shr 18 cts vs 13 cts net 2133000 vs 1384000 revs 141 mln vs 117 mln nine mths shr 49 cts vs 36 cts net 5657000 vs 3728000 revs 397 mln vs 318 mln
shr profit 159p vs 225p loss div 3p making 45p vs nil turnover 193 billion stg vs 199 billion pretax profit 1342 mln vs 114 mln loss tax 472 mln vs nil operating profit 1630 mln vs 927 mln interest less investment income 138 mln vs 372 mln exceptional debit 150 mln vs 669 mln minorities 03 mln vs 04 mln extraordinary credit 164 mln vs 420 mln debit operating profit includes international computers 902 mln vs 617 mln communications systems 561 mln vs 487 mln components and distribution 200 mln vs 15 mln defence 94 mln vs 131 mln
biotech research laboratories inc btrl 4th qtr
us certificates to provide wheat corn supplies
king fahd has stamped his personal authority on opecs new found determination to defend prices in a move western diplomats believe underlines the kingdoms need to secure a stable source of income for its economy
the book value of the companys investment in land development operations is 224 mln dlrs
the february year on year fall was due to lower vegetable fuel oil petrol electricity and gas prices and despite higher housing education footwear and clothing costs
greenman bros inc gmn 1st qtr may 2 loss
opponents of the bill said the proposal discriminated against imports and would damage the philippines malaysia and indonesia
toyot belong to both
theres no doubt that it can have an adverse effect on the economy and its important that the psychology turn around quickly or else obviously the panic will feed on itself and eventually therell be a serious price to pay economically former deputy treasury secretary richard darman said in a television interview
ccc accepts bonus bid on barley to cyrpus
mountleigh group plc a uk property company is seeking a 100 mln stg multicurrency credit facility union bank of switzerland london branch said
crude steel production is likely to be below 1986 87 output but forecasts for profits and sales in the year starting april 1 are unavailable yet he said
the company said 521508 shares may still be repurchased under the 1985 authorization
but redstone turned the situation into a spirited bidding contest which was capped by the announcement this morning that viacoms independent directors on behalf of viacom entered into a defintive merger agreement with national
the department said both the april and may increases in personal income were restrained by lower subsidy payments to farmers and by initial payments to a newly established retirement fund for federal government employees in april
thai rice exports rise in week ended february 24
the company said shareholders at the may 14 annual meeting will be asked to approve an increase in authorized common shares to 100 mln from 25 mln as well as a limitation of directors liability and the establishment of a classified board
parent bank net profit rose to 477 mln from 422 mln and the dividend remained unchanged at 12 marks
bank of finland to trade in banks certificates
asa ltd asa 1st qtr feb 28 net
in that announcement mts acquisition said its bank and investor bankers felt they could provide financing totaling 975 mln dlrs for the offer
bilfinger und berger sees output falling in 1987
exporters nervous about the appreciating taiwan dollar have been heavily selling forward us dollars on the interbank market to avoid exchange rate losses
the application to the cftc could be made as soon as early next week but the secs rule change must first be formalized by its publication in the federal register an cbt spokesman said
he said the cut to 35 from seven pct was approved by the cabinet yesterday and would go into effect within a week
china is moving to stabilise world prices of tungsten after fluctuating prices this year affected the countrys export earnings the china daily said
matrix science mtrx sets stock split
the 110 year old apparel manufacturer recently posted first quarter earnings of 54 cts a share up from 40 cts a year ago
the company said other factors it considered in rejecting the offer were its financial condition future prospects current market conditions and the numerous conditions on which sosnoffs bid was conditioned
in a filing with the securities and exchange commission lee said he bought 7000 penobscot common shares between feb 12 and march 2 at prices ranging from 1375 to 1625 dlrs a share
todays debt rescheduling talks between the philippines government and its bank advisory committee were postponed until thursday to give the banks more time to consider manilas novel proposal for paying part of its interest bill in notes instead of cash bankers said
the sparks study on certificates examined two possible scenarios through the 1990 growing season a zero certificate case where no certificate program was assumed and an alternative case labeled adequate certificate case in which sufficient certificates would be released so that grain prices would not be artificially supported by market shortages due to acreage reduction programs or government holdings
gulf resources said it still owns 67 mln shares of imperial continental or a 46 pct interest and continues to study various alternatives
on september 23 1986 the day fiat announced it had reached an agreement under which libya would sell its 15 pct stake fiat shares closed in milan at 16600 lire
1 1986 to mobay corp another bayer ag affiliate
withdrawals amounted to 336 tonnes
us house passes mideast gulf bill
the us has been pressing japan to discuss the rice issue at the new round of general agreement on tariffs and trade talks
sheikh ali has said before that kuwait had the ability to produce up to 40 mln bpd
michael armacost under secretary of state for political affairs was asked at a press conference whether japans moves to boost its domestic economy and open its markets could persuade the us not to impose tariffs on japanese imports said and replied it is probably too early for the figures to demonstrate that the situation has turned around and to permit the result you have described armacost said the us hopes japan will take steps to lift its domestic economy and reduce dependence on exports remove barriers to imports and settle outstanding trade issues
this legislation will open up new natural gas markets the lousiana democrat said
less than two months after first interstate bancorp withdrew its bold attempt to buy bankamerica corp chairman joseph pinola is still looking for a good buy but he is also looking at ways to avoid being bought
terms of the sale were not disclosed
however revenues and earnings should consistently increase throughout the remainder of the year president louis cosentino told analysts
tunisia expected to tender for french wheat
revenues for the year rose to 650 billion compared with the prior years 596 billion
gna quoted botchwey as saying that while the consequences of current reduced rainfall will be nowhere near the drought experiences of 1982 83 the government has taken steps to alleviate anticipated food production shortfalls
turning to exchange rates the official said the substantial drop in the dollar is beginning to have an effect on reducing the imbalance in world trade even though the impact has taken longer than expected to show through
wladyslaw baka head of polands national bank told the official news agency pap yesterday the talks were a step towards possible fresh credits or easier terms
the agency cited expectations that macks profitability will improve over the marginal levels of last year
the rebate was set at 153 european currency units per tonne for march and 133 for april through july
hisham nazer who replaced yamani successfully led an opec engineered return to fixed oil prices of 18 dlrs a barrel last december
heineken sees higher profits wider penetration
bundesbank leaves credit policies unchanged
a spokesman for gaf was unavailable for comment
proxmire outlines insider trading legislation
agriculture ministry sources said the paper marked an easing in japans tough position on agricultural imports which stressed the need for strict controls on some products to maintain self sufficiency in food
hughes kistler speaking to reporters after 85 pct of hughes shareholders approved the merger said the revised terms of the agreement give the companies six months to find a buyer for the reed drilling bit business
in a statement issued late last night the central bank said the measure would take effect from march 13
in a filing with the securities and exchange commission the partnership said it bought 400000 hbo common shares for 54 mln dlrs on may 28
the feds action followed the september 1985 plaza agreement between the five major industrial nations under which they agreed to promote an orderly decline of the dollar
he said the government had met all monetary targets set for the first quarter in consultation with the international monetary fund imf it expected to draw down the fourth tranche from its 198 mln sdr stand by arrangement soon
but the spokeswoman pointed out that many companies are holding talks with the soviets
it showed nearly 90 pct of the respondents believed that the total number of market makers in three years time would be less than 20 while 46 pct thought the number would be less than 15
february us jobs gains show stronger economy
some analysts saw the wedge statement as a boost to peschs takeover effort and a further sign that there could be some shareholder dissatisfaction following american medicals previous rejection of a 20 dlr per share all cash offer from pesch
he said the revenue generated by charging a regulatory amount would be used to finance the common agricultural policys oils and fats regime
but the price gap between the first and second tier was large mangan said
it said imports of sugar were 25165 tonnes down from 54000 but exports of rice rose to 71144 tonnes from 20000
the head of the national merchant marine authority murilo rubens habbema was quoted in todays gazeta mercantil newspaper as saying that if the strike continued foreign ships could be authorized to transport brazilian exports
it had said that if the offer and talks with its lender did not succeed it would probably have to file for bankruptcy law protection
klm said last week it is negotiating a minority stake in british courier service iml air services group ltd a subsidiary of british and commonwealth shipping plc bcoml to strengthen its position in the fast growing worldwide door to door delivery market
however some new york based aluminium traders said they believe the size of alcoas position has been exaggerated
the plant which has an asking price of 187 mln dlrs plus several mln more dlrs for inventory it said
attaka in singapore is valued at 1855 dlrs a decline of 68 cts a barrel or 35 pct from the previous week
the troops went in at the request of the state oil company petrobras because of the threat of a strike by 55000 oil industry employees
shr profit nil vs loss one ct net profit 1136 vs loss 42840 revs 1490718 vs 1151176 nine mths shr profit three cts vs profit five cts net profit 89900 vs profit 150523 revs 4520393 vs 4078441
nerco said the interest being purchased will give it estimated proven oil and gas reserves equal to six billion cubic feet of natural gas
shr 55 cts vs 93 cts net 16 mln vs 26 mln revs 53 mln vs 12 mln year shr 73 cts vs 136 dlrs net 20 mln vs 30 mln revs 91 mln vs 110 mln note1985 net includes 27 mln dlrs gain on disposal of unit
exports this year are expected to total 225 billion dlrs and imports 145 billion he added
woolworth bids 244 mln stg for superdrug
new york coffee futures for may delivery settled 229 cents lower thursday at 10468 cents a lb while more distant deliveries fell the six cent maximum trading limit
usair said it has purchased and will pay for 93 mln shares representing about 55 pct of those tendered
the banks loan loss provision for the first quarter ended january 31 rose to 223 mln dlrs from 187 mln dlrs in the year ago quarter
trafalgar house buys us builder for 20 mln dlrs
shr loss 29 cts vs profit eight cts net loss 20 mln vs profit 568000 year shr loss 137 dlrs vs profit 88 cts net loss 93 mln vs profit 60 mln
national amusements again ups viacom via bid
current rates are 1 3 4 pct for savings accounts 24 hours seven day call one week and two weeks
bronstein president of cap mortgage and robert fox president of fox properties inc
the transaction is expected to be completed early in the third quarter of its fiscal year ending september 30 1987
gencorp had earlier urged shareholders to reject a 100 dlr per share tender offer from general acquisition an affiliate of wagner and brown and afg industries inc and said it was studying financially superior alternatives
the company will amend its option granting procedure to conform to the sec decision which will eliminate future charges it added
seoul announces more tariff cuts for us 
commenting on ec policy he explained depending on the seriousness of the outbreak the veterinary committee then decides on three options allowing us to continue exporting beef from disease free areas clamping a three month suspension on exports or banning us from exporting for a year
other us banks have also warned of earnings setbacks
mitsubishi bank mitbt plans 40 mln nz dlr cd
phelps dodge corp is prepared to make another large non copper acquisition and a deal could be struck in the near future chairman g
consumers said objective criteria like average exports and stocks should determine producer quota shares dauster said
any taiwanese shortfall should be awarded to the philippines or at the least we should share a hike with the dominican republic the usda last december listed 1987 sugar import quota allocations for the dominican republic at 160160 short tons and for taiwan at 10920 short tons
unemployment in portugal held steady at 96 pct in the first quarter of 1987 after the same rate in the last quarter of 1986 the national statistics institute said
french reserves fell in the week ended march 19 following repayment of the bulk of the debt contracted during january with the european monetary cooperation fund the bank of france said in its weekly statement
applied chemicals group henkel kgaa hnkgf said it is selling its hamburg vegetable oil and fats subsidiary noblee und thoerl gmbh to oelmuehle hamburg ag
call money fell in quite active trading today dropping to 340 50 pct from 355 65 pct yesterday and below the 350 pct treasury bill rate as a difficult month end approached
british minister criticises proposed ec oils tax
peter mortimer a partner in the law firm milbank tweed hadley and mccloy noted that legal requirements could well determine which structure is chosen
according to the letter to company employess dayton hudson management has moved in two directions to fend off a takeover
div 12 cts vs 12 cts pay april 20 record april 8 note company pays dividend of 12 cts three times annually with a bulk payment at the end of the fiscal year to equal annual dividend of 50 cts
the company also said it is evaluating a plan to satisfy its obligations under its 10 7 8 pct subordinated notes but gave no details
supplies of uk index linked bond exhausted
if you dont deal with the budget deficit everything else you do is going to be counterproductive volcker said in recent testimony before the senate banking committee
bush bsh revises 4th qtr year results up
the acquisition is subject to regulatory approval
the state oil company said pdvsa will pay on the order of 30 mln dlrs for the half interest in champlin
the company in a newspaper advertisement said it has started a tender offer for all piedmont shares at that price and the piedmont board with two directors absent has unanimously approved the bid
we have been talking about the potential needs that india might have for both their commercial market and purchases needs as well as the possibilities of assistance lyng said
peerless manufacturing co said it has sold its industrial sensors and instruments division and panhandle equipment co subsidiaries for a total of 635000 dlrs in cash
there is still a certain hope that the net inflow of foreign money can be diminished or can even be a little bit reversed schlesinger said
tokyo to issue 100 mln dlr bond in new york
net loss 1321000 vs loss 1397000 sales 311 mln vs 292 mln 1st half net loss 94000 vs loss 1745000 sales 630 mln vs 619 mln note company recently went private
1986 nine month results include 1804000 dlr gain from june 1986 sale of national sanitary supply common stock in an initial offering
redland is still in the driving seat said tim cohen of ord minnett ltd adding that redland would be happier having csr as a partner in running monier than etl
shr 19 cts vs 15 cts net 826362 vs 421759 revs 190 mln vs 148 mln avg shrs 4400000 vs 2900000 nine mths shr 48 cts vs 31 cts net 1872075 vs 887478 revs 516 mln 411 mln avg shrs 3889000 vs 2900000 note full name countrywide transport services inc
anheuser busch cos is raising 150 mln dlrs through an offering of sinking fund debentures due 2017 yielding 8593 pct said sole manager dillon read and co inc
borg warners spokeswoman said the company still plans to sell its financial services unit which includes wells fargo security guards and the chilton corp a credit rating service
costa rica sells sugar to soviet union
the commercial rand used for current account transactions rose 05 cts to 49 us cts while the financial rand jumped nearly two cts to 33 us cts
yesterday crazy eddie agreed not to oppose a slate of candidates to its board proposed by the committee to restore stockholder value a shareholder group led by the oppenheimer palmieri fund lp and entertainment marketing inc em that has been seeking to oust current management
for banks compliance with the ruling could indeed be a nightmare since they dont fund loans on a individual basis
brazil the third worlds largest debtor has suspended all interest payments on its 109 billion dlrs of foreign debt
commerce undersecretary j
a sharp drop in short term company credits which reflected the foreign funds inflow was balanced by a moderate rise in long term credits and a sharp rise in credits for securities
bhp petroleum americas inc formerly part of utah international will become a subsidiary of bhps renamed bhp petroleum international now bhp petroleum pty ltd the company said
travelers realty income investors 1st qtr net
lomak petroleum inc lomko year loss
cyclops corp reforms board after dixons group fails to get majority of cyclops stock
rotterdam grain handler says port balance rose
squibb is putting up over 75 mln dlrs in research and development to make it happen while the equity position part of the package is simply to demonstrate the seriousness of this partnership said fildes
syndication is proceeding and managers and participants are being invited to participate at four levels with management fees ranging from 15 to 30 basis points it said
fortune savings bank said it agreed to buy the deposits and assume the leasehold of a financial security savings and loan association fssl branch here
net 5521000 vs na revs 3581 mln vs 3590 mln year net 553 mln vs na revs 143 billion vs 134 billion note current year includes earnings of 496 mln dlrs for the four months ended april 30 1986
ec must explain farm policy to us france says
mickelberry corp said it has completed the previously announced sale of the 51 pct of its c and w group subsidiary that it had retained to n w ayer inc for undisclosed terms
balletto estimated production of palm coconut and palm kernel oils this year at 85 mln tonnes down from 91 mln tonnes last year enough to offset higher oilseed output
malaysia advised to raise crude oil output in 1988
employment in manufacturing industries fell 380000 from a year earlier to 1430 mln including 183 mln employed in the textile industry down 190000 from a year earlier and 106 mln in transport industries such as carmakers and shipbuilders down 170000
disney would then acquire privately held fidelity for about 103 mln dlrs and other adjustments
the agency confirmed bank of americas baa 1 long term rating and prime 2 short term rating as well as seafirsts ba 1 senior debt and seattle firsts short and long term ratings of baa 1 and prime 2 respectively
the notes have an eight pct coupon and were priced at 9965 to yield 102 basis points more than comparable treasury securities
the banks target range for this year is 65 to 95 pct and bank of spain governor mariano rubio said this month he was aiming for the lower end of that range
the spokesman told the price for these would be fixed just before they go on sale but was likely to be between 8500 and 9000 francs
jp morgan and co inc jpm sets quarterly
as previously reported it sold 9534633 of its imperial shares on march nine
ccc credits for bangladesh amended usda
goodmark foods inc gdmk 2nd qtr feb 22 net
beneficial corp bnl debt ratings cut by s p
the dollar had closed here at 15377 yen on february 20
raytech corp ray 4th qtr dec 28 net
the philippines posted a trade deficit of 68 mln dlrs in january compared with deficits of 57 mln in january 1986 and 28 mln in december government figures show
we are fully prepared to do whats necessary to keep the shipping going and keep the freedom of navigation available in that very vital waterway of the world he said on nbc televisions meet the press the state department said friday iran has been informed about us concern over the threat to oil shipments in the gulf
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
netherlands grants 47 mln dlrs to bangladesh
4th qtr 1986 had 17 weeks vs 16 weeks in 1985
these include an expected pledge of 550 mln dlrs from from 12 industrialised countries and about 240 mln dlrs in loans from the world bank and the asian development bank
the company earned 64000 dlrs in last years first quarter
exports in 1985 86 at 740 vs 740 last month
on income based gdp the index in the fourth quarter rose by 07 pct from the third quarter and was up 38 pct on the year ago quarter
the coupon on the 100 mln dlr warrant bond for kansallis osake pankki k o p has been set at 4 5 8 pct compared with the indicated range of 4 1 8 to 4 5 8 pct lead manager morgan stanley international said
sosnoff said it has started a tender offer for all shares of caesars world inc at 28 dlrs each
non callable for two years the issue is rated b plus by standard and poors corp
a spokesman for the company said the trustee who has yet to be named will also look into the conflict of interest problems that have arisen during the proceedings
the envoy 75453 tonnes dw was carrying a cargo of 50000 tonnes of bauxite from brazil to cuba
a short time later navy personnel boarded a second iranian oil platform about five miles to the north and destroyed radar and communications equipment before leaving the structure the pentagon said
no share amounts provided for 4th qtr as nps completed initial offering in august
state officials said the government had agreed to revise its proposals to cut compensation and would allow slightly higher cash benefits for injured workers
the following proposed securities offerings were filed recently with the securities and exchange commission angio medical corp initial public offering of 1666667 units each consisting of one share of common stock and one redeemable warrant to buy one share of common stock through kean securities co inc
as a solution the oecd staff has urged japan to redirect its export driven economy boosting domestic demand and imports by adopting a more flexible fiscal policy they said
reagan says us needs to lessen oil imports
britains defence minister george younger said the us was unfairly protecting its defence industry and this could lead to british firms demanding counter measures
buechler prior to his promotion was executive vice president and chief operating officer
ryan mcfarlnad develops cobol and fortran language compilers for the micro mini and mainframe computer markets
carroll also noted that since the merger accord was first signed the outlook for the industry has improved materially hughes may simply feel the pressure on the oil service industry is lifting
a 150 mln dlr issue of mead corp 30 year debentures was given a nine pct coupon and priced at par smith barney harris upham and co inc said as lead manager
oper shr 91 cts vs seven cts oper net 4356774 vs 289764 revs 692 mln vs 502 mln avg shrs 4736692 vs 4151672 note 1985 net excludes 3027714 dlr loss from discontinued operations
retaliation could also be prompted by relaxing standards for findings that imports were injuring us firms
general public utilities resumes dividends on common stock pays 15 cts
australia sold 180000 tonnes of raw sugar to the soviet union for shipment in the next few weeks queensland primary industries minister neville harper said
stewart stewo sells plant to sara lee sle 
wiehn said babcocks liquidity had clearly improved in the current business year with financial reserves in the first five months rising by 237 mln marks to 831 mln after increasing by 408 mln marks to 594 mln in 1985 86
it said the sale and leaseback was attractive to the investors because they could take quicker advantage of tax benefits than the utility could
alcan reduces cost of planned smelter
early buying interest was low despite a weaker dollar against european currencies they added
rigaud blamed the mills problems on an order by duvalier two years ago forbidding hasco from refining sugar
analysts said ballys decision to offer shares in the unit could be the first step to selling it
although swett gave no gave details on the latest plan for negotiations with private foreign banks he calculated the suspension of payment to these creditors would save the government 5445 billion sucres
commitments to new argentine loan reach 91 pct
us leading index fell 10 pct in january
it carried a 10 year maturity a coupon of six pct and price of 100 1 4 to yield 597 pct at issue
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
northern telecom proposes two for one stock split
the well is producing 300 barrels a day he said
the soviet total comprises 634000 tonnes of wheat and 472000 tonnes of barley
shr 52 cts vs 43 cts net 177 mln vs 142 mln sales 4131 mln vs 3616 mln avg shrs 343 mln vs 303 mln nine mths oper shr 158 dlrs vs 66 cts oper net 539 mln vs 267 mln sales 122 billion vs 108 billion avg shrs 335 mln vs 352 mln note 1986 nine mths net includes 206 mln dlr provision for restructuring but excludes 850 mln dlr gain on sale of discontinued glass business and 1330000 dlr gain from discontinued operations
shr 167 cents vs 294 final div nil vs same making nil vs same pre tax profit 2131 mln dlrs vs 2642 mln net 1084 mln vs 1915 mln turnover 1717 mln vs 2594 mln other income 10199 mln vs 12518 mln shrs 6513 mln vs same
japan foreign shipbuilding orders fall in may
general electric co ge 1st qtr net
if further dollar declines are needed this could diminish overseas investment in us debt brusca added which might necessitate higher interest rates and lower bond prices
last year copper demand was second highest on record behind 1984 he said
us trade data seen as key to dollar trend
mem com inc mem 4th qtr net
boeing co and argosystems inc argio said they reached an agreement for boeing to acquire the sunnyvale calif defense electronics firm for about 275 mln dlrs
the crop reporting board said the estimates for the 1986 87 season are based on maturity and yields tests as of march 1
hoechst ag completes celanese cz acquisition
dole says 0 92 option should be considered
plm cos inc said its plm power co unit broke off merger discussions with sunlaw energy corp of beverly hills calif
the coupon and payment date is june 1
moodys downgrades beneficial corps 34 billion dlrs of debt
the company said earnings from operations in the second half ending june 30 1987 excluding the charges are expected to be in the break even range
regarding the companys shareholders meeting tuesday gabelli told there was nothing said that caused me to sell or buy he still thinks values are 140 dlrs per share or more and has clients that asked to buy more
bat chairman patrick sheehy told a news conference that the tobacco sector of the company had declined to 50 pct from 74 pct four years ago
the bonds will be listed in luxembourg and sold in denominations of 1000 and 10000 dlrs
du plessis said the new interim debt agreement was substantially a continuation of the arrangement ending in june and calls for south africa to continue paying all interest on its total foreign debt of 23 billion dlrs
the report also noted that the government was progressing only slowly with its plans to privatise state companies and said more deregulation was needed
crops in the panhandle of oklahoma and texas are less developed and have some snow cover protection from the cold he noted
fred bergsten said a new exchange rate system is needed to replace the fixed and flexible exchange rate systems which he said had not worked
nigeria and guinea agreed to set up a new company with liberia to carry out the 14 year old mifergui nimba iron ore project an official communique said
release of the funds from the standby loan has been delayed by argentinas failure to win final approval to a 195 billion dlr loan from creditor banks which was a condition for the imf disbursement
qtly div 44 cts vs 44 cts prior pay june one record may eight
this years deficit resulted from the landslide which cost the canal about 15 mln dlrs mcauliffe said
italys overall balance of payments showed a surplus of 1461 billion lire in february 1987 compared with a deficit of 1145 billion in january provisional bank of italy figures show
finance secretary jaime ongpin told reporters yesterday the alternative proposal is designed to avoid an impasse when debt rescheduling talks reopen in new york on tuesday
gao likely to show certs more costly than cash
dealers attributed the late rise to remarks by prime minister yasuhiro nakasone that major nations had agreed to stabilise the dollar above 150 yen
all sales under this line must be registered and exported by september 30 1987
raw sugar denatured and non denatured 4405 versus 4369 previously
shr loss 53 cts vs loss 32 cts net loss 1548000 vs loss 929000 revs 9362000 vs 113 mln 12 mths shr loss 82 cts vs profit 17 cts net loss 2408000 vs profit 452000 revs 409 mln vs 395 mln note full name of company is rocky mount undergarment co inc
north atlantic technologies natt 4th qtr
brazil could export 19 mln bags of coffee ibc
its round one to the americans said richard reid senior european economist for brokers ubs philips and drew in london
but he added that markets are still very much in danger
hyperinflation has been curbed and public spending trimmed but its debt is still trading as low as 10 cts on the dollar on the secondary market and many banks have written off most if not all of their loans to the country
domestic oil output from existing fields is expected to fall to 280000 barrels per day bpd in fiscal 1992 93 from 546000 bpd in 1985 86 reflecting mainly the decline of the bass strait fields he said
mco said the qualfied opinion related to its realization of the carrying amount of its geothermal property and its ability to continue as an ongoing concern which is dependent upon the restructuring of the companys bank debt and other obligations resolution of the uncertainties surrounding its geothermal operations and the success of future operations
marcove and an unaffiliated purchaser it did not name
mobils chairman has explained this change by saying we need a leaner organization to get more efficient usage from our assets said john lord a mobil corp spokesman
but were probably not looking at a great deal of growth potential said ward mccarthy of merrill lynch capital markets
this resulted in falling utilisation rates at big modenised mills
costs should be below 50 cents a pound after depreciation but before interest and corporate expense by 1989 or 1990
commenting on the inflationary expectations poehl said you have to get to the root of the problem you have to pursue a policy which reveals that there are no grounds for such fears the inflationary fears were unjustified and exaggerated he said
canada recently imposed a permanent duty of 85 cents per bushel on us corn imports
pillsbury co 3rd qtr shr 56 cts vs 63 cts
the bank report was especially critical of indonesias drive to plant sugar saying domestic sugar prices are double the world average because of inefficiencies and the country would save money by importing the commodity
in march sales of housewares furniture and big ticket items were stronger than apparel sales signaling to many analysts that apparel sales will be strong in april as the holiday nears
june aug upper mississippi river lacrosse savage offered at 150 pct no bids
current quarter tax rate of 275 pct benefited from wisconsin department of revenue decision the company said
other banks such as saudi british bank 40 pct owned by the british bank of the middle east are disadvantaged by a relatively low deposit base
we cannot rely on imports even at current low world prices
it said that sonatrach the algerian national oil company canceled future deliveries of crude oil and natural gas occidental petroleum co oxy demanded cash for crude and atlantic richfield co arc asked for special safeguards
he said the arguments cited by hughes yesterday for not doing the merger tend to be weak hughes said yesterday that as a condition of the merger it wanted reed tool and other businesses sold prior to april 22 the projected merger date
yugoslavia which refinanced part of its 197 billion dlr debt in talks with creditor governments last week has begun talks with banks on rescheduling its commercial debt the official tanjug news agency said
ford motor credit unit files for two billion dlr debt shelf offering
bank of france said it cut money market intervention rate to 7 3 4 pct from eight pct
contrary to a projected low yield on tankoku short term interest rates have been resisting a fall on growing demand for funds ahead of the march 31 financial year end they said
chinese spot march will be set at 110000 yen per 15 tonne lot from 90000
charming shoppes inc chrs raises quarterly
to the south however he said the weather was wetter and some cattle are coming off pasture weighing 75 to 100 lbs less than normal after having gained only 75 lbs all winter
it added that the notes are due march 20 1990
allied lyons won control of hiram walker gooderham last year in a battle against gulf canada corp which finally got a 49 pct stake after an out of court settlement
the index base 1975 closed here today at 721 unchanged from the previous close
shr one ct vs three cts net 123000 vs 371000 revs 2944000 vs 2138000 avg shrs 114 mln vs 116 mln six mths shr five cts vs six cts net 531000 vs 725000 revs 6200000 vs 4128000 avg shrs 114 mln vs 116 mln
nynex nyn increases qtrly cash dividend
we are beginning to see a return in wholesale margins said roger hemminghaus chairman of the refining and marketing company that is to spin off from diamond shamrock corp dia margins are higher because the opec pact is holding us stocks of gasoline and heating oil are declining and gasoline demand is rising as the driving season approaches he said
agriculture department analysts said next weeks figures will likely show a sharp drop in acreage to as low as 65 mln acres down 22 pct from last years plantings of 833 mln acres
cominco clt to form exploration unit
the paper said the price for long grained rice from 10 southern provinces and cities was raised by 15 yuan per 50 kg
strackbein would be president of safco
earlier weizsaecker said that the potential of patagonia the barren tableland covering a third of argentina could assure the economic future of the country
neale goldston morris of sydney broker bain and co ltd said the move out of delhi and investment in the sugar industry was a sensible one but added that it represented the loss of australian owned assets to a foreign company
hj heinz co hnz 3rd qtr jan 28 net
becor western inc said no business will be transacted at the shareholders meeting scheduled for 1000 cdt tomorrow and the meeting will be permanently adjourned
kay also said it is pursuing private placement of debt securities for a number of corporate purposes
union said it paid about 90 mln dlrs on april 1 for the retraction using existing credit lines
state bank banca commerciale italiana bci said it is launching a 50 billion lire eurobond on behalf of merrill lynch amp co
the terms envision a purchase of the entire company it said
during the final days of january pressure on the dollar subsided
it also agreed he may waive any retaliation if it would hurt the us economy
world lending pattern changing manila bank chief
but the volume effect of falling imports to the us and rising imports to europe would take time to make itself felt compared with the price effect
under terms of the agreement swiss re will acquire 55 mln newly issued cis stock at 250 dlrs a share or 138 mln dlrs
german federal railways stock 900 mln marks 10 years at 6 1 4 pct and par bundesbank
the company in 1986 registered its first profit in eight years earning about 446 mln intis in pre tax profits
trade sources told from the state capital of salvador that despite scattered rains since mid february which broke a six week drought plantations have not picked up as hoped and very little cocoa is expected to be gathered in the first three months of the may september crop
celltronics celt declares one for 10 split
bankers said they would relay the brazilian request for an extension but declined to say whether they were specifically endorsing it
in a newspaper advertisement the company said the tender and withdrawal rights will expire may five unless extended
moodys investors service inc said it may downgrade 700 mln dlrs of debt of dana corp and its unit dana credit corp
the new system will add such items as fiber optics and more accurately define new composites items not widely traded when the current schedule was devised some 30 years ago
the issue currently underway is expected to be completed within the next few weeks
despite the higher net earnings cra said 1986 was a poor year for the minerals industry with the notable exception of gold producers
supermarkets general corp said it agreed to sell 11 super drug stores to f and m distributors the nine existing and two unopened stores are located in maryland virginia and upstate new york and are operated under the pathmark super drug trade name the company said
the acquisition expected to be treated as a pooling of interests is expected to be completed in the third quarter of 1987 subject to approval by regulatory agencies and first state shareholders
it will issue a 25 billion yen 15 year bond through public placement with yamaichi securities co ltd as lead manager
february 1986 production was 378600 tonnes
for two years the markets had hailed the dollars decline as the cure all for the us trade deficit
if more financial instruments were available there might be more trades in yen he added
but the data raise the tantalizing possibility for the bond markets that the slowdown in money growth is partly a reflection of a weaker economy that needs more fed stimulus
japanese purchases of chinese soybeans including spot buying may have totalled 240000 to 250000 tonnes of the 1986 crop for november to april 1987 shipment down from some 300000 tonnes the previous year the sources said
baur said siemens had first made an offer last summer
in the year ago period charter reported a loss of 13 mln dlrs
sun raises crude oil postings one dlr across board
to help meet this years target of five pct it is insisting pay rises stay at that level setting the stage for clashes with trade unions who say they have made enough sacrifices
southland slc unit raises crude postings
bankers said they would relay the brazilian request for an extension but declined to say whether they were specifically endorsing it
terms of the agreement were not disclosed
it will be secured on a property called brettenham house
february retail sales jumped 41 pct more than the 25 30 pct rise the financial markets had anticipated
gandalf gandf acquires stake in data voice
one official who asked to remain anonymous told a draft agreement would reduce to zero from two pct future interest payable on the 10 year old debt and set a 25 year repayment term
investment group has moore handley mhco stake
but santos alvite told reporters he hoped a first cargo of 300000 barrels could leave maracaibo this weekend to supply refineries near guayaquil
the japanese daily asahi shimbun said today that ibj and three other banks plan to abandon a total of 16 billion yen in loans to japan line and a group of creditor banks plans to buy seven billion yen of new japan line shares
the bank of japan intervened just after the tokyo market opened buying dollars at around 14765 yen dealers said
the average effective interest rate on all loans closed by major mortgage lenders declined nine basis points from early february to early march the agency said
pakistan is likely to produce a record 76 mln bales 375 lbs each of cotton from the current 1986 87 crop exceeding a target of 72 mln bales food and agriculture minister mohammad ibrahim baluch said
a presidential spokesman said president jose sarney had authorised the governments economic team to prepare the new plan as soon as possible
fpl group capital inc a unit of fpl group inc is raising 150 mln dlrs through an offering of debentures due 2017 yielding 8951 pct said lead manager salomon brothers inc
hungarys hard currency trade fell into a deficit of 5394 mln dlrs last year from a surplus of 2953 mln in 1985 and 12 billion in 1984
italys february payments balance in surplus
talking to journalists before a meeting of european community economy and finance ministers here tietmeyer declined to say whether the february 22 paris accord by the group of five countries plus canada included secret agreements for stabilising currencies
citibank follows uk base rate cut to 105 pct
the 157 are among about 290 items on which washington has asked seoul to lower tariffs
scrap crepe rubber prices firat colombo auction
tonen is a wholly owned subsidiary of toa nenryo kogyo kk tnent which is owned 25 pct by exxon corp
he will retain his duties as chief operating officer
west german industrial production seasonally adjusted rose a provisional 32 pct in february after a downwards revised decline of 34 pct in january the economics ministry said
when people in this country get an increase in disposable income the inclination is to go out and spend it he said
nuclear support services inc said it agreed in principle to buy the business and assets of itt henze service from itt corp for an undisclosed amount
the company said the charge will result from a redemption of debt
the economy will bottom out in the middle of the year said sumitomo bank ltd chief economist masahiko koido
a spokesman for polaroid said the company had not been contacted by edelman and no filing had been made with the securities and exchange commission about a stake in the company
it gave no further details
the fawc says this would help reduce the spread of salmonella
but i am confident they understand the views of the united states and our strong support
president kenneth kaunda tried to abolish maize subsidies last december in line with imf recommendations but the move caused maize meal prices to double overnight and led to riots in which 15 people were killed
2 or better hard red winter with 12 pct protein minimum and 13 pct moisture maximum
the issue is being co lead managed by credit lyonnais banque nationale de paris bnp and credit suisse first boston
the san francisco based promotional group said 95 per cent of the exported wine was from california and the top three markets were canada japan and britain
consequently campeau is not subject to the procedings
there are an estimated nine mln lorries and buses in use in the ec according to commission figures
fao approves emergency food aid for ethiopia
div is unfranked and thus will not be tax free under dividend imputation
note year ago results restated to reflect change in accounting principle effective august one 1985
economists said this reflected the huge investments poured into the oil sector in recent months in an effort to reverse the stagnation in production which began in november 1983
st
the article followed international press speculation that the bundesbank had abandoned money supply targetting in favour of an exchange rate policy
tax adjustments 19 mln stg credit vs nil making 26 mln stg credit vs three mln debit
gillette has been the subject of repeated rumours since ronald perelman chairman of the revlon group inc rev made an unsuccessful bid for the company last year
dutch trade fully in balance but down in january
if holdings voting at the may six meeting in wilmington del approve the increase in authorized shares the split will be paid in the form of a stock dividend on june 10 to holders of record may 20 the proxy said
but the osaka stock exchange plans to start futures trading in a basket of leading stocks in april
but building societies said they would not cut lending rates until base rates had fallen by one full point
deutsche bank capital markets is the other joint lead manager
prior quarter and nine month per share figures not applicable because company began operations in october 1986 with the acquisition of gould incs gld medical products group
the worlds worst maritime disaster was in wartime that took 7700 lives when the german liner wilhelm gustloff was torpedoed by a soviet submarine in january 30 1945
amrep corp axr 3rd qtr jan 31 net
intelligent systems master limited partnership said its board declared an initial quarterly dividend of 25 cts per unit payable april 10 to holders of record march 31
bill frenzel r mi said the subcommittees bill was not one that a free trader like me could endorse in all respects but he emphasized there was a consensus among lawmakers to work toward a bill reagan and republicans would ultimately endorse
protein databases inc said millipore corp through its venture capital subsidiary millicorp acquired an equity position in the company
fees are 3 4 pct for selling and 5 8 pct for management and underwriting combined with 1 8 pct praecipium
multibank financial corp mltf in payout
brokerages within the government bond writing syndicate are now negotiating by how much foreign house subscriptions to government bonds should be raised the managers said
in a report to president corazon aquino on his departments performance during the year ended february 28 ongpin said at least 159 billion pesos were expected to accrue from new tax reform measures announced last year
the continuing serious recessionary conditions in singapore and malaysia and the depressed condition of the shipping industry made it necessary to provide heavily against bad and doubtful debs arising from loans in the asia pacific region on top of the normal level of provisioning barber said
danforth said he continues to see value in a merger between westinghouses radio operation and those of nbc
the rexham board had rejected the nortek bid as inadequate
three institutes predicted two pct economic growth in 1987 with exports falling by 05 pct
meinert told shareholders hartmarx has no plans to sell any of its divisions
clark copy buys norwegian firm
azraai said the government will cut the size of the public sector and privatize those operations which may be better run by the private sector
members of the baltic international freight futures exchange biffex are to be balloted at the end of this week on whether it will merge with the london commodity exchange or come under a new umbrella of baltic futures exchanges a biffex official said
new to the april program is the combination of a low interest annual percentage financing program and 1986 and 1987 renault vehicles and a 500 dlr rebate
international mobile machines corp immc offering of one mln shars of cumulative convertible preferred stock through drexel burnham lambert inc and butcher and singer inc
japan to release gnp figures later today
exxon xon extends mid grade unleaded marketing
tighter availabilities of products as a result of the shutdowns in the med is helping to keep products markets bullish particularly for march deliveries oil traders said
pdvsa and union pacific will each contribute half the capital required by the venture and arrange a revolving credit facility with us and foreign banks to finance inventories and receivables union pacific said
the yens surge has caused layoffs in the mainstay steel and shipbuilding industries
issues comprised three bonds including two fixed interest bonds totaling 700 mln marks and one equity warrant bond totaling 200 mln marks
for the year ended march 31 1985 cenergy reported net income of 3705000 dlrs or 36 cts per share on revenues of 71 mln dlrs
these two have already shown their effectiveness for hedging and the trade in both contracts is increasing he added
the european community commission today appointed its chief spokesman hugo paemen as its top official in charge of multilateral trade negotiations a commission spokesman said
first eastern corp febc 1st qtr net
it added that david a
mts a company formed by martin sosnoff caesars worlds largest shareholder today began a tender offer valued at 7252 mln dlrs for all shares sosnoff doesnt already own
yankee ynk swaps stock for debentures
harcourt brace said it will only pursue the acquisition if a mutually satisfactory merger agreement can be negotiated
japan cannot tolerate a further rise of the yen foreign minister tadashi kuranari said recently
the americans are getting frustrated at japans inertia in stimulating its economy said hirozumi tanaka assistant general manager of dai ichi kangyo bank ltds international treasury division
uk intervention feed wheat sold to home market
although significant oil reserves were confirmed development of this discovery will not be economical without substantially higher prices the company said
with the price outlook for both commodities so dismal traders believe farmers will want to stick with a sure thing rather than gamble on soybeans even though the new crop soybean corn ratio of 29 1 would make planting soybeans more attractive under normal circumstances
since july leucadia said its companies have bought 947800 minstar common shares for a total of 247 mln dlrs
aquino says manila watching interest rates closely
irt said conversion would be permitted at any time after 90 days after completion of the distribution of the debentures
but icahns financing ability for such a transaction remains in doubt in part because of twas heavy debt load
the four billion dlr increase in brazils 100 billion dlr debt would represent no increase in the real inflation adjusted size of its liability he said
the deficit on invisibles on unsmoothed figures eased to 215 mln dlrs from 248 mln revised from 277 mln in december and 252 mln in january 1986
net excludes discontinued massachusetts casualty operations loss 5180000 dlrs vs gain 778000 dlrs in quarter and gain 9214000 dlrs vs gain 3504000 dlrs in year
careplus cpls seeks approval in acquisition
national bank mortgage issues canadian dlr bond
laid off workers were bitter about the closure
north american philips nph sells debentures
british sugar has a and b quotas totalling 1144 mln tonnes of whites and its c output is due to improved yields from more consistent disease resistant seed types
analysts have said ual made itself vulnerable to attack when it diversified away from its core airline
a 175 mln dlr issue of bonds due 1997 was given an 8 3 4 pct coupon and priced at 99375 to yield 8845 pct or 128 basis points over comparable treasury securities
ccc accepts bonus on poultry to egypt usda
fed seen content with us february economy
if negotiations go smoothly ramnath said construction could begin by next january
the proposal will give the banks a choice of 5 8ths or the alternative ongpin said
profitability has fared poorly for three years mostly because of intense competition s and p added
the bundesbank could now assume that upward pressure on the mark would ease and currency inflows slow down
domestic demand for edible use soybeans is expected to remain stable at about 240000 to 250000 tonnes a year the sources said
the report said rising commodity prices and the continued expansion of the manufacturing sector coupled with rigorous fiscal restraints and a more stable currency are grounds for cautious optimism about the malaysian economy
rafsanjani the parliamentary speaker said it is not a threat or an attempt at intimidation when we say we will respond to aggression it is a reality and we have proved it in practice he added that the american attack squares neither with its superpower image nor its claim of concern with security nor reason and wisdom us warships shelled an iranian offshore oil platform and american special forces boarded another destroying equipment
in january 1986 wholesale prices were 39 pct lower than a year earlier
richard gluch jr resigned from the board
the mood of the congress right now is as tough on trade as ive ever seen it in six years in washington baldrige said in a television interview
it said in exchange it will receive about 23 mln dlrs in cash rights to acquire 22 acres adjacent to the philadelphia international airport and an option to acquire the development rights over the gallery ii shopping mall on market street in downtown philadelphia
the properties were acquired from north american oil and gas corp and texas petroleum corp in canada the company said
new york bank discount window borrowings nil in march 11 week
later that week amc said it had retained financial and legal advisers and expected to meet periodiocally over the next several weeks to consider the proposal
the bank of england said it forecast a shortage of around 800 mln stg in the money market today
one receives all the principal payments from the underlying pool of mortgages and the other receives all the interest
fed sets six day system repurchases
keihanshin real estate issues equity warrant bond
net interest income totalled 925 mln dlrs compared with 917 mln dlrs in the same 1986 period as loans mostly to middle market businesses increased by 896 mln dlrs
mueller a member of the bundesbank council in his position as president of the regional state central bank in bavaria noted that the bundesbanks decision in january to cut leading interest rates amid continuing strong monetary growth had led some people to think it was dropping monetary targetting
however when sufficient selling interest to break below chart support in the june contract failed to materialize participants who had sold bond futures early quickly covered short positions they said
a major loophole in the general agreement on tariffs and trade has been closed today a senior us official here commented
li said modern equipment and advanced technology would increase yields
however they were unsure to what extent the loans would and could be changed
flour exports through rouen rose to 23457 tonnes in the 25 day period from 5500 in the equivalent 1986 period the sources said
it has a major investment in an mtbe plant in saudi arabia
the federal reserve may intervene in the government securities market to supply temporary reserves indirectly via customer repurchase agreements economists said
it said the fall was largely due to sales of foreign currency that preceded the january 11 realignment of the european monetary system ems foreign currency reserves fell by 891 billion francs during the month the ministry said
diplomatic sources said the yeutter de clercq meeting will take place in london and will also involve the aerospace ministers of france britain west germany and spain the countries involved in the airbus project
the drop of irvings share to 44 dlrs per share which is about a 26 dlr drop from the beginning of last week increases the chance that bank of new york will succeed flores said
biopool ab develops cardiovascular and fibrinolytic products for diagnostic applications
the dollar had opened here at 14595 yen against 14585 90 yen in new york and 14600 yen at the close here yesterday
he said he was hoping for shareholders to total around 30000 to 35000 against the 12500 before nationalisation
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
rexcom rxsc to acquire marketing firm
the june pound which added 63 cents over the past week and a half to reach a new contract high of 15930 to the dollar on monday has spawned a new found speculative boom
this is not the time to throw all caution to the winds and im not about to do that fernandez said
the asa and national soybean processors association nspa delegations will meet top west german government officials today and tomorrow to lobby for support
the authorities ordered government offices closed until wednesday
canam manac said it will produce the trusses at its quebec and ontario plants and delivery will be completed by august
sweden sets october deadline for safrica boycott
the bill which must still be approved by parliament would take effect in april 1988
the marketing year for corn began september 1
acton corp said it has agreed to sell its five michigan cable television systems to wisconsin cablevision inc for about 9500000 dlrs resulting in a gain of about six mln dlrs
last years profits should have been 28 to 29 billion dlrs if not for the huge provisions former hongkong bank chairman michael sandberg said the bank wrote off hundreds of millions of dollars against its shipping exposure in 1985
she told delegates at the informal meeting of trade ministers that this was one of five principles canada wanted adopted in reforming agriculture in the general agreement on tariffs and trade gatt secondly support for agriculture should avoid production incentives and thirdly countries should freeze and seek to reduce government aid measures that distorted world prices carney said
wall street stocks ames dept stores add 
according to central bank figures indonesia exported 362700 tonnes of crude palm oil to ec countries in calendar 1985 and 301400 tonnes in the first 10 months of 1986
most of these are of the least sophisticated type of technology such as medical instruments
i think some western growers have decided they should be in the program for security reasons
under the terms of portugals january 1986 accession to the european community ec a grain import monopoly held by epac empresa publica de abastecimento de cereais is being reduced by 20 pct annually until all imports are liberalised in 1990
christopher sibson secretary general of ipma in explaining why the recommendation was adopted said it is aimed at the problem of the lead manager who does a deal and disappears sibson said the organization cannot force its members to adhere to the rule
its annual revenues are about 18 mln dlrs
the government initially forecast a current account deficit for 1986 87 of 1475 billion our present expectation is that the result will be somewhat lower around 14 billion he said
deutsche babcock ag dbcgf expects profits to rise in the current financial year ending september 9 although the earnings level is still unsatisfactory managing board chairman helmut wiehn said
federal law requires individuals or groups of individuals who have made shareholder agreements to disclose stakes in companies of at least five pct within 10 days
under that plan a minimum of 400000 dlrs and a maximum of one mln dlrs of additional new capital is to be provided to fund the combined operations of the three companies
consolidated net turnover 13106 billion francs vs 12214 billion
they estimated development costs for the mine and mill would total 211 mln dlrs including three mln dlrs of working capital
in addition staff builders officers and directors own about 138 pct of its stock and have agreed to vote in favor of the merger
first quarter 1987 results include one month contribution of west virginia power which became a division on march 1 1987 green said in remarks prepared for delivery to analysts
it said the existing five year agreement due to expire this july 24 was extended until the end of 1988 to allow for additional geological and geophysical studies
subscriptions to 500 mln guilders were met in full amounts above 500 mln at 35 pct
wheat guesses ranged from 13 mln to 17 mln bushels compared with 168 mln bushels a week ago and 134 mln bushels a year ago
it said the labor increase then will be 32 pct for abf freight system its largest unit
national healthcare said it expects no material gain on loss on the sales and that substantially all proceeds will be used to reduce debt
shr loss nine cts vs loss 12 cts net loss 649000 vs loss 850000 revs 5059000 vs 4084000 avg shrs 7041000 vs 6900000 note current year net includes charge 152000 dlrs from amortization of previously capitalized software costs
dealers said the market in all texaco deals will almost certainly remain on an indicated or negotiated basis until the events of the weekend are further clarified
rowntree mackintosh plc is seeking a 200 mln stg five year multiple option facility of which 150 mln stg will be committed and a 200 mln stg commercial paper program county natwest capital markets ltd said as arranger
the issues are for settlement april 27 the office said
foreign exchange reserves rose by 94 mln francs to 3312 billion
the halt the first national strike by seamen in 25 years started on february 27 and union leaders said they would not return to work unless they got a 275 pct pay rise
there were no wheat or soybean shipments during the week
baldrige told the senate finance committee the united states would insist japan open its markets to us products as the us market is open to japanese products
dealers said this was clearly a move to appease us anger over the most recent west german interest rate rises
shr loss 46 cts vs loss 51 cts net loss 109 mln vs loss 9782818 revs 201 mln vs 9437270 avg shrs 235 mln vs 193 mln 1st half shr loss 90 cts vs loss 111 dlrs net loss 206 mln vs 214 mln revs 389 mln vs 145 mln avg shrs 228 mln vs 192 mln
the direct payment plan outlined by the administration targets subsidies to small cane and beet growers and gradually lowers payments over four years
chase said the offer is conditional it receiving accptances for at least 90 pct of the shares and options
as far as i can tell from the public documents from the deal thats on the table hutton is basically putting up zero
the department had earlier reported that real earnings fell 03 pct in january but revised the figure to show earnings unchanged
remittances exceeding one mln dlrs earned through exports shipping insurance or bank lending will now need government approval along with remittances of more than 10000 dlrs from any other source
the treasury will place a 25 billion dlr package of two year four year and seven year notes on the sales block this week
he denied the action had been taken for that reason
a spokesman said the company now has about 70 employees
us latin nations delay decision on iadb
shareholders are scheduled to vote on the bond issues at an extraordinary meeting called for april 27
rvial to union carbide emerges in french bid
although lopez has not joined the fast union sources said its unlikely he would attend the dinner
the government sources said the amount covering the first 50 days of the year starting april 1 accounts for more than 90 pct of the 16000 billion yen in bills incorporated in the full budget
saudi arabia is completely sticking to opec decisions he said
american can ac sells convertible eurobonds
but despite the dollars woes japan development bank wholly owned by the japanese government raised 150 mln dlrs in a seven year eurobond carrying an eight pct coupon
csc industries unit to increase prices
carolina power and light co said its board has decided to cancel coal fired mayo unit two the second unit planned for its mayo plant in person county nc the company said the 690000 kilowatt unit was only about one pct complete and was scheduled for commercial service in 1992
lubbock is the heart of the west texas cotton region which produces about 80 pct of that states crop
the company earlier reported a 20 pct rise in pre tax profits for 1986 to 114 billion stg from 953 mln previously
panteras pant acquires 10 restaurants
under an offer system the buffer stock manager would be free to choose cocoas of varying prices they said
yeutter renewed the threat of a white house veto
paul feretti an analyst with new orleans based howard weil labouisse friedrichs inc said he was not surprised at market rumors that tenneco might be the target of a takeover attempt
diplomats said this was expected when ec environment ministers meet next on may 21
the payment date is june 1
nickel analyst ilmar martens at walwyn stodgell cochran murray ltd said incos removal from the index would likely spark short term selling pressure on the stock
if the trip is a major disaster it would seem to put the final nail in his coffin he said
each of the companys business segments contributed to the sharp improvement pope and talbot said
negotiations between international coffee organization ico members to re establish producer export quotas broke up earlier this week with major producers and consumers accusing each other of intransigence
a decision on how to renegotiate will be taken at the iso six monthly session in may
the minister said indonesia should hold three months supply or 510000 tonnes
consul restaurant corp said it began an exchange offer for its 13 pct convertible debentures due 1992 with an aggregate principal amount of 175 mln dlrs
multi media sees year end loss
hyponex hypx files for debt offer
martens said following a lowering of government estimates of 1987 nominal gnp growth and a re estimation by government departments of 1987 spending the government calculated that unless action was taken the requirement would exceed the target by 225 billion francs
the funds will be used for sewerage and reclamation work
spot product prices in singapore were little changed in thin early discussions with naphtha and middle distillates quiet on minimal buying interest
major market index futures increased activity 37 pct during the month with 194697 contracts changing hands
us treasury announces oecd tied aid pact
australia to produce silver and platinum coins
few bankers see little chance for a subtantive recovery in bolivias economic fortunes and so are willing to collect what they can on the loans
it received 118 loans worth 37 billion dlrs for 112 projects between 1968 and 1986 190 pct of the adbs total lending
the companys last profit was in 1980 when it earned 524 mln dlrs on sales of 21 billion dlrs
agency officials blamed the strong yen for depressing exports and manufacturing industry
the csr offer contains a put and call option agreement with redland
reed said the new mooring system will permit 24 hour service in most kinds of weather and will reduce ship turnaround time
philip augar of stockbrokers wood mackenzie and co ltd said the market expects slower profit growth but forecast a seven to eight pct rise in both earnings per share and pretax profit over the next two years
energy minister arturo hernandez grisanti said wednesday the cost would be 33 mln dlrs in cash plus an additional 60 mln in crude and refined oil shipments
as a result of the weakness in soymeal the march crush ratio the value of soyproducts less the cost of the soybeans fell from the mid 30s earlier this month to 226 cents per bushel today dropping over five cents in just the last two days
the uk treasury issued to the bank of england 250 mln stg in two tranches of existing index linked stocks for first dealings on monday the bank said
johnstown american jac makes exchange offer
mcdermott international inc said asea babcock pfbc received a 48 mln dlrs contract to supply a combustion system for tidd power plant in brilliant ohio
genentech sets 100 mln dlrs of convertible bonds
government security advisers say that as a direct result the most likely source of revolution in the philippines is in the upland areas said ganapin
pancanadian to sell north sea properties unit to whitehall for cash
cpc international cpc to sell asian stakes
mees says second week march opec output 14 mln bpd
shell also said it will contract exclusively from socanav normal marine distribution requirements for domestic markets with some exceptions for an initial 10 year period
the full council is scheduled to meet around 1500 gmt to discuss the compromise and could agree on it then if all parties are satisfied they said
kuwait says opec 24 mln bpd below ceiling
the fed took no market reserve management action last thursday and friday the first two days of the week
januarys bonds were oversubscribed as their interest rate was two points above savings deposit rates and were the first bonds that could be exchanged or converted before maturity
word on a decision was expected early tomorrow
zenith laboratories inc said the company will report a fourth quarter loss and the amount will be determined on completion of its year end audit
the office and technical workers last negotiated may 21
smith barney cuts rating on mcgraw hill mhp 
corrects year of loss in third paragraph in item which originally ran february 27
olson said he expects atts cash flow to remain strong despite the poor earnings
if it does not fall output of the late october november december crop will decline sharply one source said
john dingell the michigan democrat who chairs the house panel responsible for the secs budget and operations
the payment date is april 30
the company said the preferred purchase will be financed by an investment group led by autospa
duke power duk sells 10 year mortgage bonds
the sec has been in the limelight for the past year as its investigators have probed into the most colossal insider trading scandal ever uncovered on wall street
ste genevieve ups offer for sullivan sumto 
japan the netherlands mexico and portugal were the main buyers the department said
while analysts and arbitragers have speculated that icahn may have made the offer for usair in order to trigger the acquisition of his own airline wall street today began to take icahns effort more seriously
investment in new participations 253 billion marks vs 294 mln
while this is a preliminary estimate the company said it may be used by shareholders when preparing 1986 income tax returns
plans call for increased imports but an official said boosting imports will be difficult as it depends on sales demand fujitsu ltd itsut will cut production in accord with miti guidelines and boost imports from currently low levels
according to multifoods the actions proposed by bregman partners would prevent shareholders from realizing the full benefits of the companys restructuring
bank of spain governor says money growth too fast
latest year net includes 1825000 dlr tax credit and 2600000 dlr posttax loss from debt extinguishment
some grain trade analysts have said abnormal winter losses maybe one reason why the soviet union has been actively buying grain recently
depending upon the results of the re evaluation of a significant bayou well as of jan
options can only be written on the original 14 bonds selected when bond options were introduced last april
the us agriculture department forecast the soviet 1986 87 wheat crop at 9230 mln tonnes vs 9230 mln tonnes last month
the banks affected by the change in investment coding are bank of new york co inc bk bankers trust co bt chase manhattan corp cmb chemical new york corp chl citicorp cci irving bank corp v manufacturers hanover corp mhc jp morgan and co inc jpm marine midland banks inc mm republic new york corp rnb bank of boston corp bkb and first chicago corp fnb the institutional sources said that thomas hanley a director of salomon inc subsidiary salomon brothers who is in charge of bank stock research believes citicorps move is well timed
gruen marketing gmc sees year net off
us helicopters destroyed three iranian gunboats after an american helicopter came under fire earlier this month and us forces attacked seized and sank an iranian ship they said had been caught laying mines
micron technology inc said it expects to record a net loss of about 11 mln dlrs in the second quarter compared to a loss of 97 mln dlrs in the first quarter and 98 mln dlrs in the year ago second quarter
shr 53 cts vs 34 cts net 2253742 vs 1332652 avg shrs 4251553 vs 3932064
united industrial corp uic 4th qtr loss
kim told reporters the government would repay loans ahead of schedule and encourage firms to increase imports and investment abroad to prevent the current account surplus from rising too quickly
trump and interstate properties in talks to acquire alexanders
but surprisingly the challenges now appear to be coming from the other side of the world they said
the current labour unrest is the worst faced by sarneys civilian government since it came to power two years ago
he said that png could sell whatever cocoa it produces
ny tankers april 7 ashland took majestic pride 45000 tons dirty april 12 east coast mexico to us gulf worldscale 120 frota took fidelity l 49000 tons dirty april 21 brazil to united states worldscale 118 cpc took eisho maru 220000 tons dirty april 12 mideast gulf to taiwan worldscale 35 citgo took friendship venture 67000 tons dirty april 16 caribbean to us gulf worldscale 89 msc took loire 52000 tons dirty april 10 east coast mexico to us gulf worldscale 925
it is our expectation that economic development will allow brazil to meet its debt a spokesman said
in recent months with the marks strong rise against the dollar poehl has made exchange rates the central concern of the bundesbanks council a highly conservative institution which has doggedly pursued monetary policies to prevent inflation catching hold
this year should be the fifth solid year in a row for homebuilding activity with single family units stronger than multi family units he said in a statement
after the strong focus on the dollar yen rate in recent weeks up to the end of the japanese financial year on march 31 interest and activity was likely to switch dealers said
when talks broke down the us and brazil the largest coffee consumer and producer respectively blamed one another for sabotaging negotiations by refusing to compromise
liu said most of the groups profit came from the parent company rather than its two wholly owned subsidiaries xiamen international finance co ltd in hong kong and luso international bank ltd in macao
however he said it was always a little bit risky for a heavily indebted nation to seek refinancing without first negotiating with the international monetary fund on economic reforms
conable said the country may be able to get away with not going to the imf for help but will need an imf type economic program if it wants to regain the confidence of lenders
icn icn has five pct of syncor scoro 
bp petroleum development norway ltd operator of the ula field said september output rose to 86727 bpd after dropping to 27237 bpd in august because of the shutdown
aha automotive technologies corp year net
with the prospects of a crop of at least 28 mln bags this year brazil has the capacity to export up to 20 mln bags after meeting local consumption of around 70 mln the sources added
horizon corp hzn 4th qtr net
it also said that in is suit cxr asked for seven mln dlrs in damages along with an unspecified punitive award
federal funds opened at 6 1 16 pct and firmed to 6 1 8 pct in early trading
in a filing with the securities and exchange commission atlantis said it has informally discussed a business combination with charter crellin management
bank of england signals half point cut in short term rates dealers
to be eligible for the credit guarantee coverage all sales under the new line must be registered and exported by september 30 1987 the department aid
three eleventh round blocks were awarded in the haltenbanken exploration tract off central norway including the smoerbukk west field where den norske stats oljeselskap a s statol statoil was appointed operator
the non callable issue is of unsecured unsubordinated debt
amylum chairman disappointed by ferruzzi cpc deal
the company will retain six yen dividend for 1986 87
trelleborg had previously announced it was exercising an option to acquire up to 65 pct of bolidens voting rights
coastal also said it sold its natural gas for an average price of 217 dlrs per mcf in 1986 a drop of 18 pct from the previous year
the offer will begin thursday subject to clearances from the staff of the interstate commerce commission and will expire 20 business days after commencement unless extended
ccr video corp said it has received an offer to enter into negotiations for intercep investment corp to acquire a controlling interest through a tender offer
the banks action followed its purchase of short dated government stock and six day repurchase agreements earlier in the session
the stock had been regarded as slightly expensive when it was announced and dealers said that even first thing this morning it had seemed slightly dear in relation to comparable existing stocks
british minister says he warned tokyo of sanctions
powell who heads prairie resources corp and mack c
fluor flr and units downgraded by s p
the purpose is to discuss the current situation for producing and marketing wheat and help set the legislative and regulatory agenda for the coming year the nawg statement said
economists said that a rise in energy prices was expected but a sharp drop in auto prices was not
assuming the company was valued at around eight times earnings this would give a selling price valuing it at about 12 billion though he said the recent good performance of the aerospace sector could nudge this figure upwards
argosystems has granted boeing an option to buy 1238311 shares or 185 pct of the outstanding stock for 37 dlrs a share they said
shr loss eight cts vs profit 10 cts net loss 714905 vs profit 889679 revs 1091461 vs 3156569 year shr loss five cts vs profit 22 cts net loss 422037 vs profit 1850637 revs 6642490 vs 7948312 avg shrs 8808323 vs 8412822
in november 1986 novo purchased 75 pct of shares in a s ferrosan which heads a group specialising in research and development of cns central nervous treatment treatments and the sale of pharmaceuticals and vitamins in scandinavia
belgian foreign trade minister herman de croo said he believed there would be a compromise within the european community ec on its proposed tax on vegetable fats and oil averting a pledged tough trade response by the united states
the hughes board which had previously expressed concern about a us department of justice consent decree that would require baker to sell its drilling bit operations and submersible pump business met yesterday and threatened to terminate the proposed merger
royal bank canada ups us base rate
sales rose as well it said to 400 mln dlrs from 287 mln dlrs in the prior first quarter
the companys done a lot of restructuring more than the markets given them credit for she said
requiring the agriculture secretary conduct a study of the canadian wheat board import licensing system for wheat to determine if it is a non tariff trade barrier
the group said japan fund has not responded to its offer worth about 525 mln dlrs at current market prices
hanson said the deals are subject to normal conditions of closing
actual spending last year fell short of the budgeted figure of 32 billion dlrs as oil companies slashed expenditure because of the crash in world oil prices
a euro commercial paper program for provinsbanken a s of denmark has been increased to 250 mln dlrs from the original 100 mln merrill lynch capital markets said
commercial international cmmc makes purchase
service resources src ends sorg srg bid
export credits guarantee department has named malcolm stephens director of export finance at barclays bank plc and a former career civil servant at ecgd for 17 years to the post of executive director a department spokesman said
talking point piedmont pie 
their estimates of the banks net earnings for last year ranged from 299 to 31 billion hk dlrs
sloane said it was important that june swiss francs and june german marks held above support at 06400 and 05400 respectively closing at 06438 and 05430
western economists said mikulics remarks taken with those of his ministers could be a signal some problems were seen ahead in financing the debt repayments
twa twa tangles piedmont pie situation
ford motor co f raises qtly payout
it recognised that such arrangements may in certain circumstances reduce credit risk and wish to encourage their further development and implementation and said some of the current proposals may be changed to take this into account
radical concessions such as debt writedowns and schemes to tie payments to real income must all be considered the sela document stresses
the newly acquired kresge and jupiter stores will be renamed mccrory 5 and 10
domestic crude oil production was estimated at 838 mln bpd down 85 pct from 915 mln a year ago and gross daily crude imports excluding those for the spr averaged 367 mln bpd up 23 pct from 297 mln the eia said
preventive measures have already been taken in some areas including the evacuation of cattle
he said further loans would depend on the economic policies indonesia adopted
denmark in 600 mln crown eurobond deal
the accord was reached between producers and consumers of the 35 member icco council after two weeks of talks
the real issue is xenophobia in the us silicon valley said tom murtha of brokerage james capel and co
they said the sunflower maize soybean and sorghum crops were damaged and yield estimates affected
to the extent that its a precedent its a precedent to be encouraged buchheit a partner with cleary gottlieb steen and hamilton told a debt equity swaps conference sponsored by euromoney magazine
taiwan further relaxes foreign goods import curbs
heineken last month reported a 1986 net profit of 285 mln guilders after 265 mln in 1985
shr 28 cts vs 46 cts net 1634000 vs 2007000 avg shrs 5850000 vs 4400000 nine mths shr 82 cts vs 177 dlrs net 4788000 vs 7792000 avg shrs 5850000 vs 4400000 loans 5869 mln vs 4815 mln deposits 6974 mln vs 6062 mln assets 7972 mln vs 6834 mln note full name sun state savings and loan association
although the change was small this marked the first quarter since the third quarter of 1985 in which the utilization rates for manufacturing as a whole rose the federal agency said
however analysts noted that the turnabout in market sentiment still looks highly vulnerable to political news
earnings per share dropped to 151 dlrs from 162
renewed bull spreading likely on cattle report
the cost of living was unchanged in march compared with february but stood 02 pct lower than in the same month in 1986 the federal statistics office said
at the same time its foreign liabilities rose 100 mln to 228 billion producing a rise in net reserves of 200 mln to 822 billion on march 31
diamond shamrock r and m said it raised its crude oil contract prices by 50 cts a barrel effective june 17
finance ministers of britain canada france japan the us and west germany agreed on february 22 to cooperate in stabilizing exchange rates around the current levels
the bank of japan will continue to adhere to a system of policy coordination based upon the louvre accord of february he said
koch said the assessment of the dollars direction was based on a global view with operators paying most attention to comments by finance officials to see how closely they stated adherence to international agreements such as those set at the plaza hotel in 1985 and in paris on february 22
he said the company currently has the sufficient momentum to achieve those earnings and the successful completion of licensing applications to operate in pennsylvania delaware connecticut and ohio should fuel our earnings the company is currently licenced to operate only in new york state
said before the contract can be awarded versatile will be required to offer assurances that the shipyard is technically and financially capable of performing the work crosibie said versatiles bid was 100 mln dlrs lower than competing bidders and will generate 1000 person years of direct employment
world prices have been recovering from the lows which followed the collapse of the ico talks and brazil has sold a reasonable 55 mln bags of 60 kilos for export in the first four months of this year
newmont mining corp nem said magma copper co anticipates being able to produce copper at a profit by 1991 assuming copper prices remain at their current levels
argosystems has granted boeing an option to buy up to 1238311 new shares or a 156 pct interest at 37 dlrs each and shareholders have granted boeing an option to purchase up to 597885 shares at the same price or about 89 pct of those now outstanding without taking the company option into consideration
the bank did not disclose a forecast of the impact on future earnings by brazils suspension of interest payments
argentina will also benefit from an additional quota of 5000 tonnes of frozen hake fillets at 10 pct duty and reduced levies on 550000 tonnes of wheat bran the officials said
shr 92 cts vs 91 cts net 241 mln vs 227 mln avg shrs 254 mln vs 248 mln nine mths shr 20 cts vs 258 dlrs net 6028000 vs 627 mln avg shrs 254 mln vs 243 mln assets 103 billion vs 921 billion deposits 710 billion vs 632 billion loans 652 billion vs 560 billion
piedmont avaition incs board of directors will conduct a special meeting beginning at 1400 est today a piedmont spokesman said
the foundation would also raise private funds and would donate 25 per cent of its money to combat aids in less developed countries
we dont want to go down that road reagan was quoted as telling prime minister jacques chirac after the visiting french official expressed concern about the rising tide of protectionist sentiment in the united states
minnesota power mpl sells seven year bonds
turnover increases with the exceptions of the sectors fine chemicals and informations systems had only been achieved in those areas widened last year through acquisition in 1985
the sources said that a commitment fee of 20 basis points will be payable on the available tranche with 10 basis points on unavailable amounts
petriccioli speaking to reporters after a visit to the world bank said the loan was currently 985 pct subscribed a figure treasury secretary james baker used in congressional testimony yesterday
at the time the company said it authorized its adviser goldman sachs and co to explore other takeover proposals and to supply financial data to other interested bidders
tomorrow brazil was due to fulfill payment of 15 billion dollars in short range credit lines but its economic officials have suggested a 60 day extension in the deadline in order to seek a renegotiation with its creditors
however key monopolies in areas like steel and plastics and high tariff barriers remain in place
company representatives were not immediately available
merrill lynch and co inc is holding talks on acquiring canadian brokerage firms a company spokesman told 
the company said the class b common would have 10 votes per share and the common one vote per share
petromont is jointly owned by union carbide canada ltd uccto and the quebec governments sgf industrial development group
lawson restated that the government was keeping the question of membership under review
moller said he bought the stock as a long term investment and may buy more but has no plans to seek control of the company
the stock has been trading in a 154 to 128 range for the last 52 weeks
an agency official said it will set up a 500 mln yen pilot plant in bangkok which will extract high quality rare metals such as titanium and niobium from sand left over from tin production processes in thailand
audited net earnings in 1986 of 496 mln dlrs or 478 dlrs a share compared to a 1985 loss of 581 mln dlrs or 278 dlrs were unchanged from the companys preliminary earnings report made on jan 28
the saudis have also offered to support members having difficulty in selling their oil analysts said
enterra said the change resulted from enterras previously announced agreement to sell its hale fire pump co and macomson machine co for about 27 mln dlrs as part of its restructuring
ec commissioner welcomes cocoa accord
a cold air mass working its way south from canada may pose a threat to developing hard red winter wheat in oklahoma according to eugene krenzler wheat specialist for the oklahoma cooperative extension
asias four main nics hong kong south korea singapore and taiwan accounted for almost one fifth of the overall 170 billion dlr us merchandise trade deficit for 1986
duke power co is raising 100 mln dlrs through an offering of first and refunding mortgage bonds due 1997 yielding 7663 pct said lead manager morgan stanley
the london stock exchange has no immediate comment on the us insider trading charge against a senior london executive of merrill lynch and co mer an exchange spokesman said
kuwait may re register gulf tankers newspaper
the bank official said the broader m 2 measure which measures notes and coins in circulation plus savings and time deposits rose a provisional 97 pct to 14088 billion pesos at the end of december from 12841 billion a month earlier
the total cost of the acquisition is 340 mln dlrs the spokesman said
president reagan said the commerce department should be vigilant in preventing the flow of strategic technology from reaching the the soviet union and other communist countries
the official magazine said the provinces grain area fell to 433 mln hectares in 1985 from 57 mln in 1978 out of a total farmland area of 74 mln hectares
the continued improvement would be due to good market demand better product prices and high operating capacity the company said in its annual report
consumer members accepted the proposal as a good base to work from one consumer delegate said
swiss agree on new prospectus rules for notes
franklin us government securities fund payout
us personal income rose 09 pct in february
bayerische vereinsbank ag bvmgf expects to pay an unchanged dividend of 13 marks on 1987 earnings but profits will only barely reach last years record levels management board spokesman maximilian hackl said
the countries of latin america have too much debt relative to their ability to service it said john mason of interstate securities
the bond was trading today at 104 3 8 104 7 8 against its par issue price traders said adding the equity link ensured popularity on an oversupplied eurosterling primary market
the bank of japan intervened in early afternoon tokyo trading to support the dollar against active selling by institutional investors and speculative selling by overseas operators dealers said
hanson said that promptly following the filing of the certificate of merger kaiser cement common shares will be delisted from the new york stock exchange
dealers said the bundesbanks latest liquidity allotment this week dashed some hopes of lower rates
bank of france buys dollars sells yen dealers
japan ex im bank says no new commitments to brazil
attorneys for pennzoil said they believed the company would prevail in court appeals adding that texacos assets were ample ultimately to pay the pennzoil judgment in full
over the next three weeks a cut is out unless we get some extremely good economic indicators capels skeoch said
the bill to mature on may 2 will produce a 38995 pct yield on the sales made by the bank of japan to banks and seucurities houses through money houses they said
i wrote to the prime minister of japan mr nakasone on the fourth of march to express our interest on the cable and wireless bid
brazilian coffee rainfall
and then the question is will it have teeth one economist said
minimum reserve requirements on domestic liabilities grew to 1115 billion marks in february from 1109 billion in january
group turnover should rise about seven pct from the 157 mln reported for this year while group investments should total around 18 billion francs somewhat above the 13 billion annual average of the past three years he added
some foreign companies are not waiting but they are more the exception than the rule roeher said
the debentures are convertible into the companys common stock at 4850 dlrs per share representing a premium of 2436 pct over the stock price when terms on the debt were set
today citicorp said its first quarter income would be reduced by 50 mln dlrs after tax if it lists the loans as non performing status
april 29 is a holiday here
market sources said the bank had in its discussions with the dealers about the upcoming auctions agreed that the allotment commission was reasonable if the dealers had a concurrent commitment to buy at the auction regardless of market conditions
the spectra physics board voted unanimously with two ciba geigy representatives not participating to reject the swiss based chemical and pharmaceutical companys takeover bid citing an opinion from its financial advsior morgan stanley and co inc that it is inadequate and unfair from a financial point of view to the holders of shares the company said
to that end the administration in january allowed foreign policy controls on the export of oil and gas equipment to the soviet union to lapse he said
the hokkaido bank ltd is issuing a 30 mln dlr convertible eurobond due march 31 2002 with an indicated 2 1 4 pct coupon and priced at par lead manager nomura international ltd said
enquiries for july sep 15 raw sugars then filtered in and here again traded values rose quickly from 13 points premium to new york july up to 18 woodhouse said
in paris on february 22 britain canada france japan the us and west germany agreed to cooperate to hold currencies around their then current levels
american motors corp amo management has ordered a hiring freeze in view of chrysler corps c 15 billion dlr takeover bid a spokesman for amc said
a committee of independent directors previously obtained an opinion from first boston corp that the standard shares were worth 85 dlrs each 15 dlrs more than the bp offer
jones said all five will cost between 100 mln dlrs to 120 mln dlrs
traders expect uk wheat exports to reach 60 mln and barley around 450 mln tonnes
icahn was unavailable for comment
five mths end may 31 shr 137 dlrs vs 138 dlrs net 752 mln vs 736 mln revs 6323 mln vs 6296 mln avg shrs 549 mln vs 534 mln 12 mths shr 319 dlrs vs 313 dlrs net 1736 mln vs 1651 mln revs 143 billion vs 147 billion avg shrs 544 mln vs 528 mln
the soviets want a higher subsidy offer this time the state department source said
shr loss 341 dlrs net loss 354 mln vs loss 53 mln revs 825 mln vs 830 mln avg shrs 1038 mln year shr loss 533 dlrs net loss 426 mlnm vs loss 66 mln revs 317 billion vs 183 billion avg shrs 80 mln note the company had no shares outstanding in 1985
royal resources rrco makes acquisition
traders and delegates said they have seen no sign that a date will be set for an earlier council meeting
but if average consumer prices are higher than 1986 the rate of growth for these fuels may be below last years 36 pct
the world bank said it approved a 70 mln dlr loan to hungary to help finance a 8331 mln dlr telecommunications project
the commerce department advised the pentagon recently that defense objections to two proposed sales to an iranian power company and the islamic republic of iran news agency were not valid and the sales of small and medium computers would go through unless more evidence was presented
but hofer said other important matters at the white house rather than an absence of political pressure might have restrained lyng
salomon sa euro cp credit terms detailed
ministry of international trade and industry miti officials later sought to downplay the significance of tamuras remark and said that his main message was that the two sides need to talk urgently about the issue
it had been a gesture to ease negotiations but the lack of an agreement leaves it no longer valid and exports could be above or below 155 mln bags he said
it also sold 315 billion worth of 850 pct november 2002 stock at an average price of 9724 pct and average yield of 883 pct against 898 pct when it was last sold on january 8
it said nomura securities co ltd of tokyo would sponsor its application
the issue is guaranteed by gillette co and is available in denominations of 1000 and 5000 stg
the securities industry association backed a variety of restraints on insider trading and hostile corporate takeovers and asked congress to define insider trading in law
shr loss 174 hk cents no comparison dividend nil no comparison net loss 1149 mln dlrs
a different union struck cbs inc cbs and capital cities abc inc ccb a month ago
selas corp of america said the us district court in tacoma wash issued a judgment against the company in a lawsuit filed by milgard tempering co the company said the suit filed by milgard in 1983 in connection with a contract dispute seeks 37 mln dlrs in damages as well as legal fees
qtr ends jan 31 shr loss 38 cts vs loss 60 cts net loss 1388000 vs 2181000 revs 8199000 vs 6668000 note 1987 qtr includes tax gain 964000 for insurance claims
shr net basis 2747p vs 2215p div 65p vs 54p making 101p vs 84p pretax profit 461 mln stg vs 356 mln net after tax 30 mln vs 233 mln extraordinary items debit 38 mln vs debit 23 mln interest payable 27 mln vs 40 mln net borrowings 76 mln vs 161 mln turnover 4789 mln vs 4641 mln
the new offer the second sweetened deal redstone has proposed in his month long bidding war with management also contains newly drawn up proposed merger documents he said
assets of 91 institutional funds rose 356 mln dlrs to 6619 billion dlrs 198 general purpose funds rose 2125 mln dlrs to 6294 billion dlrs and 92 broker dealer funds rose 1519 mln dlrs to 10777 billion dlrs
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
government officials said they hope the move will intensify international pressure against the pretoria regimes apartheid policies
national beverage corp said it agreed to acquire faygo beverages inc for an undisclosed amount of cash
some of that is ending up here with the attraction of high interest rates and reasonable currency stability national australia bank ltd economist brian hamley said
ire financial corp if year
others note that the pound could yet prove vulnerable to oil price losses or a change of fortune for the dollar
mizrahi editor of mideast reports expects opec to meet before june although not immediately
it said its new ticker symbol will be majv the company also said it expects to add nine company owned and franchised major video stores in the next 60 days
an estimated 200000 barrels per day of residual fuel went into the utilities market at the expense of natural gas last year when world oil prices plunged smolinski said
1986 2nd qtr and six mth net excludes 667000 dlrs and 3043000 dlrs respectively for tax carryforwards
the target is equivalent to five and a half months worth of imports
ryder rdr buys british caledonian unit
it strengthens the dow said william lefevre analyst at advest inc
chapman chpn in restructuring
lilly said it sold 400000 liposome common shares on march 17 at eight dlrs each
bank of france sells 16 billion francs crh tap
a fed spokeswoman had no comment on the dealer reports
dollar value appropriate bundesbank official says
poul erik moller a santa monica calif investor said he raised his stake in first western financial corp to 412000 shares or 65 pct of the total outstanding common stock from 347000 shares or 55 pct
he reiterated that amoco planned virtually no layoffs of dome employees
weather in the soviet union also allowed good beet development licht said
advanced telecommunications corp said it has called for redemption on april 10 all of its eight pct convertible subordinated debentures due 2006 at 1080 dlrs per 1000 dlrs principal amount plus accrued interest
but the harbour workers union told reporters the pay dispute is not settled and the unions national executive will meet here tomorrow to decide its next moves
it said the action represents the last step toward completing the previously announced acquisition of southwest forest industries inc swf stone said the completed portion of the new credit facility consists of an 800 mln dlr term loan and a 200 mln dlr revolving credit
fidelcor inc said it has completed the sale of its industrial valley title insurance co subsidiary to a group of investors including the units management for undisclosed terms
shr 49 cts vs 39 cts net 886937 vs 892323 revs 259 mln vs 237 mln year shr 178 dlr vs 134 dlr net 3254301 vs 2472676 revs 1006 mln vs 874 mln note 1986 4th qtr and year net includes income loss of metcap subsidiary of 14881 dlrs and 311848 dlrs or 17 cts per share respectively
us jan business inventories rose 09 pct after a revised 06 pct dec fall
the csce also elected charles nastro executive vice president of shearson lehman bros as first vice chairman
newmont gold ngc sees gold sales rising
the company is the successor to baldwin united corp
in band two the bank bought 72 mln stg at 9 13 16 pct in band three 52 mln at 9 3 4 pct and in band four 46 mln at 9 11 16 pct
seaga yesterday concluded an agreement with jamaicas creditor banks to reschedule some 181 mln dlrs due in 1987 89 over the next 12 years
governments must not operate farm policies as if they were purely domestic affairs with no impact on others
navistar led the active list with a gain of 1 4 to 7 1 4 on volume of 42 mln shares
qtr ended april 30 shr profit one ct vs loss three cts net profit 146000 vs loss 203000 revs 2001000 vs 1493000 year shr profit four cts vs loss 13 cts net profit 445000 vs loss 827000 revs 7135000 vs 5237000 note full name is precision target marketing inc
it is in the interest of all to work for the future
spain extends reserve requirement
the central bank made outright purchases of bank bills comprising 46 mln stg in band three at 9 3 4 pct and seven mln stg in band four at 9 11 16 pct
analysts also noted that part of the increase in the hog herd resulted from a revision of the december report and without the revision the march report might have been very close to average expectations
last year reynolds reported net earnings of 818 dlrs a share which included 309 dlrs a share for adoption of new accounting rules 101 dlrs a share for tax loss carryforwards and other extraordinary items
it was also trying to eliminate aflatoxin totally but this was likely to take several years of research
they said a usair acquisition of twa might be a way for him to exit the company if usairs airline is then merged into twa
some producers can sell uncompetitively priced crudes by means of discounts processing deals or selling them alongside better priced grades in a package many opec crudes are seen to be reasonably priced at least for some part of the year
they expected a maximum rebate of between 4640 and 4650 ecus per 100 kilos compared to last weeks 46864
throughout the g 7 meeting japan pointed to the dangers that would arise from a further dollar fall because it would reduce the flow of japanese capital to the us hurting the us and world economies they said
he disagreed with what he termed the grossly exaggerated claim that real uk interest rates were much higher than those of other major industrialsed countries
the company said each unit of securities would consist of 125 common shares in the new company and three dlrs principal amount of the new companys 11 pct subordinated debentures due 1997
a company spokesman declined to give the purchase price
it said both metals are for delivery in the week of may 11 to olin corp east alton ill
shr primary 92 cts vs 109 dlrs shr diluted 82 cts vs 97 cts net 218 mln vs 261 mln nine mths shr primary 307 dlrs vs 296 dlrs shr diluted 272 dlrs vs 244 dlrs net 732 mln vs 653 mln assets 1429 billion vs 1235 billion deposits 952 billion vs 869 billion loans 879 billion vs 869 billion
pressure for new solutions has built up on several fronts with the philippines joining brazil in seeking interest relief and ecuador announcing force majeure on debt payments following a serious earthquake
woolworth said the percent it owns does not include 583650 class a shares of armel which were tendered or will be purchased pursuant to the options
shr 51 cts net 51 mln dlrs vs 65 mln dlrs revs 13 billion vs 11 billion nine mths shr 207 dlrs net 189 mln vs 215 mln revs 39 billion vs 33 billion note full name is shearson lehman brothers holdings inc company went public may 7 1987
standard and poors corp said it raised to a from a minus bay state gas cos preferred stock
end 1986 net assets totalled 1185 mln dlrs
chuck levitt analyst for shearson lehman said that with the number of cattle on feed down five pct at the beginning of the year a three pct decline in marketings was expected
the new price for unalloyed ingot is 645 cents a lb while the new price for extrusion billet is 725 cents a lb
keiaisha co ltd of tokyo is issuing 12 mln swiss francs of straight notes due march 26 1992 with a 4 5 8 pct coupon lead manager gotthard bank said
it said the transactions will complete its previously announced plan to sell all non gold assets
arvin industries sees flat 1st qtr per share net compared with 59 cts last year
but it said it could also receive a break up fee of 30 mln dlrs if the deal fails for reasons which include another party holding more than 40 pct of its stock or tendering for 50 pct
thermo process tpsi completes acqusition
in the uk overall profitability will improve when the central electricity generating boards ordering programme for both nuclear and fossil fired fuels starts
burlington northern inc 1st qtr shr profit 93 cts vs loss 355 dlrs
audio video and citicorp cci have been tendering for all cyclops shares in a competing offer at 8000 dlrs per share but said it could raise its bid to 9250 dlrs under certain circumstances
the iwc review covers support prices in the major exporting countries since 1982
company management is less concerned about the risk to health than about raising plant output and company profits leonard told a hearing of the house agriculture subcommittee on livestock dairy and poultry
in terms of clearing our business as a unit as opposed to individuals there would be economic savings he said but added the times change and with changing times come different opinions of what businesses ought to be around cavanaugh said the possible demise of the futures arm had nothing to do with its profitability
todays 23 billion deal for toyota motor credit with a 4 1 2 pct coupon was deemed tight however
measurex corp said it completed the sale of its measurex south africa pty subsidiary to a group of employees who manage the operation
at present if the market price has been above or below the reference price for six months the reference price is revised by five pct or by an amount decided by the international natural rubber organisation council
shr 16 hk cents vs 11 interim div seven cents vs five net 21103 mln dlrs vs 13869 mln turnover 58383 mln dlrs vs 44104 mln note dividend payable may 4 books close april 21 to 27
shultz warns asean of looming trade problem
its coming in a lot weaker than i thought the economists were quick to caution that one months data prove nothing especially because money growth previously had been so rapid
dunham said the potential operable capacity of us refineries should also be cut about 500000 barrels of crude per day
hi port industries inc hipt 4th qtr net
but wyss pointed out that this resulted from a drop in the labor force which fell to 1192 mln in march from 11935 mln in february
proceeds will be used to repay outstanding indebtedness of the company and to repay a portion of outstanding loans
it said it lowered its tax free income fund bltfx to 103 cts from 106 cts its us government guaranteed securities fund bbusx to 115 cts from 118 cts and its high yield fund bulhx to 14 cts from 142 cts
in addition new us soybean plantings are also expected to enter the market around november when malaysian palm oil output peaks
pat roberts r kan yesterday went so far as to predict a subsidy offer would be made within the next ten days to two weeks
south african year on year consumer price inflation rose slightly to 163 pct in february after falling sharply to 161 pct in january from 181 pct in december central statistics office figures show
chrysler financial corp is issuing a 50 mln stg eurobond due april 30 1992 paying 9 1 2 pct and priced at 101 1 8 pct lead manager union bank of switzerland securities said
residence inn corp said it has agreed to buy holiday corp out of their equaly owned joint venture for 514 mln dlrs with closing expected within the next few weeks
analysts expect hang seng to announce net profit of more than one billion dlrs for the first time an increase of 10 to 12 pct
in february ec industrial policy director heinrich von moltke came to japan and said i only know that your government under the leadership of maekawa points to restructuring your economy into a less outward looking more inward looking one
citicorp cci rules out credit card price war
customer net revenue in the mortgage banking area will rise to 4647 mln dlrs in 1987 from 3743 mln in 1986
alex
the company is expected to give fuller details of its results at a news conference on april 22
shr 27 cts vs 18 cts net 1757000 vs 1201000 revs 735 mln vs 712 mln
visual also said about nine mln dlrs of its debt has been converted to equity
swiss national bank says it bought dollars
foster said the amount involved in the discrepancy is about 137 mln dlrs before taxes or about 82 mln dlrs net after tax due to an improper recording of job costs over a period of several years and continuing through part of the first quarter of 1987 stearns is a unit of fosters conergic corp subsidiary
the current offer price is about 782 mln dlrs a company spokesman said up from the previous offer of 720 mln dlrs
gould inc said it has completed the sale of its french battery business compagnie francaise delectro chimie to a group of investors including the units employees and gnb inc of minnesota
mitchell energy said the additional spot sales will tend to lower the average price realized for gas in the early part of fiscal 1988
japan says it trying to expand domestic demand
arco arc raises crude oil postings 50 cts
that means a guaranteed future for much of amc but it leaves in question the fate of many of its 19000 plus employees according to industry analysts
the march contract ends trading this week making may and july the two spot or unlimited contract months next week
the treasurys announcement of a 15 billion dlr refunding operation did little to move cash government securities prices late wednesday after the close of futures
rha was to leave later today for ottawa for trade talks with canadian officials and businessmen
in the us gulf sweet crudes rose in value by 14 cts to 1933 dlrs for west texas intermediate up about 07 pct
this would reduce 1987 pre tax and after tax net by 800000 dlrs in the first quarter and by two mln dlrs for the full year the bank holding companys officers said
galveston also said it granted hemlo gold options to acquire up to two mln galveston shares
short dated saudi riyal interest rates firmed but other rates were steady in quiet trading dealers said
the bundesbank is expected to allocate more than the 34 billion marks which is due to be rolled over dealers said
us treasury secretary james bakers comment the paris accord did not have fixed dollar targets was seen as a renewed attempt by the us administration to talk the dollar down
louis dreyfus 5300 tonnes same corn april 20 may 15 at 7589 dlrs fob gulf
shr 20 cts vs 25 cts net 487000 vs 435000
the tender was launched after a 1985 draft agreement for att to take over cgct was abandoned following the introduction of the french government privatisation laws which reopened bidding among a wider range of applicants
a six pct stake was donated to the astra corporation workers trust by the government and the dutch company
iran said reports that it intended to threaten shipping in the gulf were baseless and warned the us and other countries not to interfere in the region
durakon drkno to make acquisition
some 900 people were evacuated from their homes during the rains and flooding last week civil defense officials said
nogales said bolivia was expecting some 400 mln dlrs in disbursements this year from lender countries and international agencies including the world bank and the inter american development bank although diplomatic and banking sources put the figure at closer to 300 mln dlrs
twa has offered 52 dlrs per share for usair group
the failure of the international coffee organisation to agree on the reintroduction of export quotas would mean several african countries will not have the foreign exchange to import essential items he said
niki lu industries inc year net
targeted for sale are bonwit tellers garfinckels deys donaldsons herpolsheimers heers millers miller and rhoads pomeroys catherines plymouth shops and jerry leonard
the increased offer would exceed the 9025 dlrs a share price offered by dixons group plc in a tender offer for cyclops that is part of a definitive agreement to acquire the pittsburgh based maker of carbon tool and specialty steel products
texas utilities co txu 12 mos may 31 net
japan industrial production rises in february
the licence requests were for 35000 tonnes at between 143 and 145 european currency units ecus they said
shr loss 384 dlrs vs nil net loss 56879000 vs profit 23000 rev 103 mln vs 177 mln year shr loss 460 dlrs vs profit 14 cts net loss 67818000 vs profit 1807000 rev 509 mln vs 561 mln avg shares 14734000 vs 12801000 note fourth qtr net includes a one time restructuring charge of 452 mln dlrs
but such demands could re emerge if west germany failed to stimulate its economy enough to affect the massive us trade deficit
after citibank raised its prime rate by a quarter point to 7 3 4 pct the first change in the rate since last august the dollar started to advance and reached a high in tokyo of 14750 yen up two yen from tuesdays new york low
the offer originally was scheduled to expire april 13
thorugh march 27 he said 45696 neco shares had been tendered
the miners statement said police had violently evicted comibol office workers in the city of oruro after they began a hunger strike yesterday
the trust had paid a 12th liquidating distribution on january 15 amounting to 1750 dlrs on series a 1815 dlrs on series b and 1765 dlrs on series c certificates
the union rejects employers offers of a 75 pct pay rise over 15 months
the agreement is subject to canadian regulatory approval
dune resources ltd dnlaf 4th qtr net
year to date us car output through the end of march was 1064141 vehicles down from last years 1205768
a move by these industries to countries outside the ec cannot be ruled out he added
inl said in a statement houston community newspapers inc bought the south west advocate and the south bend advocate with combined circulation of 74000 copies and associated assets from the advocate communications corp inc inl publishes wellingtons morning and evening newspapers as well as new zealand provincial dailies and newspapers in rhode island
utilities output rose 07 pct in february after gaining 12 pct in january but roach said it shows mostly that more energy was produced not that manufacturing activity gained
integrated igng field trials approved
we must quickly open our markets remove trade barriers and cut import tariffs to allow imports of us products if we want to defuse problems from possible us retaliation said paul sheen chairman of textile exporters taiwan safe group a senior official of south koreas trade promotion association said the trade dispute between the us and japan might also lead to pressure on south korea whose chief exports are similar to those of japan
canada manufacturing utilization rate rises
oper shr loss 668 dlrs vs loss 995 dlrs oper net loss 539 mln vs loss 698 mln revs 165 mln vs 332 mln avg shrs 8329492 vs 7271668 note 1986 excludes loss 129 mln for discontinued compressor operations vs loss 149 mln year prior
turkeys banks are reporting a strong recovery in 1986 profits but a government drive to liberalise capital markets poses new challenges to a banking industry seeking to broaden its earnings base
greek un representative mihalis dounas said in a letter to the secretary general that the dispute was of a legal nature and could be settled in the international court in the hague
unadjusted merchandise figures show a surplus of 151 mln dlrs against a 50 mln dlr revised from 10 mln dlr deficit in march and a 31 mln dlr deficit in march 1986
gould gld completes sale of french battery unit
results reflect change in fiscal year from november 30 end
nabisco will buy them back at 10750 traders said
brazil cocoa exporters unlikely to limit sales
year on year m 1 grew by 156 pct in january compared with an 118 pct growth in december
the main measures of the employment program give employers financial incentives to offer short term work contracts of at least two years and stress retraining to help the long term unemployed return to the labour market
this years sales of borden pasta by the 13 regional brands and the premium creamette brand distributed on a nearly national basis are expected to toal 285 mln dlrs it said
den danske bank af 1871 a s said it was issuing the first certificates of deposit from a danish bank and that the cds will be for six nine and 12 months or a negotiable period
financial and industrial holding company nord est plans to make a convertible bond issue for a total of 400 mln francs president gustave rambaud said
shore mentioned half a dozen other potential buyers for gillette including sir james goldsmith hanson trust plc han rjr nabisco inc rjr american brands inc amb and ralston purina co ral perelman is trying to put the company in play said a wall street arbitrageur
provisional inflation figures for february released last week showed the cost of living last month was 05 pct lower than in february 1986
outside california pinola acknowledged that security pacific corp with its recent acquisitions in arizona washington and oregon is quickly becoming a regional competitor in areas where first interstate has long dominated
however the suggestion still recommended a merger between the two consortia tendering for contracts and would give cable a five pct stake more than the three pct originally proposed but less than the 20 pct it holds in its original venture he said
pacific gas pcg plant to begin refueling
malaysian rubber output recovers from wintering
sand technology systems sndcf 2nd qtr net
s p said that its action follows the firms sizeable 1866 mln dlr loss at year end 1986
taiwan imported about 210000 tonnes of south african maize between january 1 and april 13 the joint committee of local maize importers said
the french and german operators involved would be able to withdraw the offers up to five weeks after april 1 when the sugar will officially enter intervention stores
american barrick resources corp said it sold two coal supply agreements and substantially all assets at its two coal mines in ohio to peabody coal co of henderson kentucky for an undisclosed price
first american bank for savings fambo 3rd qtr
investment in cable operations would total between 150 mln and 200 mln over the five years with the aim of widening the audience to 280000 subscribers from 12000 and boosting turnover to around 450 mln francs a year from 10 mln
our position with respect to the dollar goes back to the paris agreement that the currencies were within ranges broadly consistent with underlying economic conditions baker told a senate committee
both issues will be offered through underwriting groups led by merrill lynch capital markets and salomon brothers inc
control data said the divestiture was part of its strategy to focus on narrower markets
the us treasury said it will sell 128 billion dlrs of three and six month bills at its regular auction next week
volkswagen ag vowgf vw is due to make a formal announcement about its 1986 dividend tomorrow after saying the 1985 level of 10 marks per ordinary share would be held despite massive losses because of a suspected foreign currency fraud
us to sell 128 billion dlrs in bills
gilgore said the company intends to have sales of three billion dlrs by the mid 1990s
jc penney declares two for one split raises quarterly
soviet claims to be treated equally accountants
klm royal dutch airlines klma said it agreed to take a 15 pct stake in air uk ltd a subsidiary of british and commonwealth shipping plc bcoml in a transaction worth around two mln stg
cantrex unit to merge with ontario group
the ico 15 day average price stood at 11466 cents a lb for march 2
dividend payable november 13 to shareholders or record october 30
the issue will be immediately swapped into swiss francs putting actual interest rates at around four pct a tokyo government spokeswoman said
campbell resources inc cch 2nd qtr dec 31 net
the original debenture issue was for 100 mln dlrs
japanese finance minister kiichi miyazawa said the group of seven g 7 nations still support the louvre accord to stabilise currencies
philips dupont unit arranges 145 mln dlr credit
cri insured ii cii estimates dividends
a recent study by morgan guaranty trust co says taiwan and south korea are the most pressing trade issue for the us while hong kong and singapore run trade surpluses with the us these are offset by their deficits with other countries
stoltenberg also appeared to suggest that west germany was now no longer under any pressure from the us government to stimulate its economy
s p downgrades united technologies and units affects 17 billion dlrs of debt
the us currently belongs to only two international commodity agreements that have economic clauses the international coffee agreement ica and inra but it is also a member of the sugar and wheat pacts
there were only trace amounts of platinum and palladium the company said
despite the closure of ipswich and the severe harvesting problems in other factory areas british sugar is maintaining its estimate of sugar production this campaign at around 12 mln tonnes white value against 134 mln last year the spokesman said
since similar arguments will be used in this case it is possible that any appeal in the maclaine watson case could be consolidated with amts appeal arnold said
the modest rise continued the recent rally from an oversold situation but dealers noted there was little fresh physicals news to stimulate activity
it said a 163 mln dlr 85 pct note due dec 31 1992 includes participation in the 1992 profits of the acquiring company
fed says it sets two billion dlrs of customer repurchase agreements
the financing is being arranged by samuel montagu and co ltd and is being syndicated on a restricted basis among a group of the borrowers relationship banks
in accordance with article 51 of the united nations charter i wish on behalf of my government to report that united states forces have exercised the inherent right of self defense under internation law by taking defensive action in response to attacks by iran against united states vessels in the gulf walters said
he said the us would take serious retaliatory action because if implemented the tax would have a considerable impact on us farmers
the market is beginning to feel there may be demand at the beginning of the fiscal year in japan on april 1 quinn said
the bank said in a statement that public loan transactions accounted for net capital import of 01 billion crowns in may with net registered private capital imports of 91 billion
net change in export commitments usda
underwriters are gordon capital corp midland doherty ltd merrill lynch canada inc and levesque beaubien inc
trico industries inc said it set march 31 as the date for a special shareholders meeting for a vote on the proposed acquisition of the company by paccar inc pcar in january the two companies announced an agreement covering a proposed acquisition by paccar of tricos approximately 82 mln shares outstanding for eight dlrs per share in cash
citibank was the first to announce an increase on tuesday
prospects appear slim for a summer meeting between us and soviet officials before the two countries enter the final year of their bilateral grains agreement agriculture department officials said
in other words the monetary policy measures required are different from and sometimes diametrically opposed to those needed when the money stock is increasing as a result of mounting economic activity though koehler was known to be the most liberal of the generally monetarist bundesbank board his comments marked the first time cuts in rates had been concretely suggested as a counterpoint to overly strong monetary growth dealers said
prospects for renewal of the five year us ussr grains agreement are uncertain at this point a soviet trade official told 
japan sets 1987 88 first half beef import quota
the bank of japan actively bought dollars here in early afternoon trade at around 14220 yen dealers said
earlier on monday the bundesbnak injected liquidity into the west german money market in a move which money market dealers interpreted as an attempt by the west german monetary authority to curb interest rate rises
in london transport secretary john moore told parliament yesterday that the ship keeled over after water gushed in through the bow doors
they would also be used to assess progress of policy goals
at the end of 1986 mobil said it also had an existing effective shelf registration with the securities and exchange commmission to permit the sale of 205 mln dlrs of debt
s p upgrades texas air tex units certificates
he said major countries should be showing leadership on this problem
the dates for the baker chung meeting have yet to be set
the bank of canada will buy 100 mln dlrs of the new issue including 10 mln dlrs of the 2011 maturity
german bank sees higher gold price for 1987
ic industries icx to redeem securities
the bank said continuing strength of the current account has allowed foreign reserves to be rebuilt to more comfortable levels this has strengthened the authorities hands in lending support to the exchange rate of the rand if such action were to be called for the bank said
we havent made a decision on it havent even talked about it havent even looked at it reminded that there have been reports that moscow would buy us wheat if competitively priced lyng responded if they the soviets would offer to buy some wheat would we accept it it would depend on what price they offered lyng added that he did not think the price of us wheat was far off the world price
i guess if we find trans shipment is a problem we would have to do something about it said a trade official
certs can be used to repay nonrecourse loans or exchanged for ccc commodities or cash
federal reserve chairman paul volcker too spoke recently of debt fatigue and the need to breathe new life into debt rescheduling procedures
but taiwan and to a lesser extent south korea stand in marked contrast
the banks raised the prime to the current six pct from five pct on february 28 after cutting it 1 1 2 points from 6 1 2 on january 15 in response to upside pressure on the hong kong dollar he said
for the 12 months ended march 1987 the cpi rose 183 pct against 182 pct in 12 months ended december 1986 and 130 pct in the 12 months ended march 1986 it said in a statement
investment firm raises certron crtn stake
the company said qualified buyers of pontiacs may now select special finance rates of 39 pct on 24 month contracts 79 pct on 36 month contracts 89 pct on 48 mopnth contracts or 99 pct on 60 month contracts
the company said the mandatory 30 day review by the us justice department was completed today
1985 six months includes one time gain of 35000 dlrs
swiss banks are criticised by the churches who say they are in effect lending support to the south african government
parent investment in fixed assets 114 billion vs 884 mln
under the 1985 bill the percentage of food aid shipments carried on us vessels was to increase gradually over three years to 75 pct in 1988 from 50 pct
fees comprise 1 1 4 pct selling concession and 5 8 pct for management and underwriting combined
he said first central financial would not itself be an easy takeover target
the banks policy making board of governors meeting here ahead of this weeks iadb annual meetings put off any decisions when it became apparent differences between washington and the latin countries ware too great
chicago board of trade grain traders and analysts voiced a lot of interest in how farmers planned to handle their upcoming spring plantings prompting sales of new crop months of corn and oats and purchases in new crop soybeans in the futures markets
finance minister gibson chigaga said all of zambias traditional financial backers apart from britain had pledged continued backing for the countrys new go it alone economic program announced last month
genetics institute inc earlier reporting an increased first quarter net loss said it expects to incur losses in fiscal 1987 that are somewhat higher than those reported in fiscal 1986 it had a loss of 4504000 dlrs for fiscal 1986 ended november 30 compared to a fiscal 1985 loss of 173200 dlrs
shr 140 dlrs vs 116 dlrs net 5776000 vs 4429000 avg shrs 4132828 vs 3834117
the business comprised three 6000 tonne cargoes for june at 346 dlrs and 6000 tonnes for july at 340 dlrs per tonne cif
in addition to the question of the exchange rates at which britain should enter the emss core exchange rate mechanism there was also the impact of sterling membership on the system to be considered he said
inflation for the year ending may 1987 was 757 pct compared to 768 pct for the year ending may 1986
we do not have hard evidence we are still putting things together he said it would take several weeks for the company to complete an investigation
they said the increase brought exxons contract barge price to 50 cts a gallon
youll find a lot of people who think we have not done the former enough
the imc said in a statement the ico is an important instrument for ensuring producers obtain an adequate price
mueller brass lowers product prices
security pacific national bank and provident national bank said they increased their prime lending rates a quarter point to 7 3 4 pct
falcon cable systems co said its set an initial quarterly cash distribution of 5375 cts per unit payable may 15 to unitholders of record march 31
deak buys johnson matthey commodities
industry analysts also said the estimate of a 35 mln bpd draw in stocks made by shell chairman peter holmes yesterday fed speculation that other major companies were destocking
foote which is 83 pct owned by newmont mining corp nem has signed a letter of intent to sell its cambridge operations and said it is in talks on the sale of its manganese operations with several companies
robins said the filings were made with the us trustee overseeing its chapter 11 bankruptcy case
he also told he did not expect any increase in colombias financing needs as a result of current falling coffee prices after a surge last year doubled export income from this source to around three billion dlrs
hyponex hypx sells debentures at 11828 pct
it also said it found a fairly direct relationship between the increased trade deficit and the influence of shifting currency exchange rates us economic growth and domestic demand for goods and services which has outpaced foreign consumer demand
thesing verwaltungsgesellschaft gmbh of coesfeld west germany is issuing a 10 mln swiss franc eight year bond with an indicated 6 3 8 pct coupon and par issue price joint lead managers fintrelex sa and egutzwiller und cie banquiers said
output of consumer goods rose 06 pct after falling 03 pct in january and output of consumer durables was up 21 pct in february after falling by 20 pct in january
syndication for elders note facility closes
snow cover is scant in poland with only about 50 pct of the winter wheat areas reporting one to two inches of snow as of this morning
a major policy change in early 1985 helped lay the basis for sustained non inflationary growth and external competitiveness had improved but economic performance overall had sharply deteriorated since june 1985
the counterpart of improving the trade deficit either through a lower dollar or because the us increases duties on japanese electronic goods may be to hit the capital inflow which has financed the budget deficit
it said the transition to the fiber network from interim networks would not only reduce operating costs in the second half of 1987 but also assist in controlling unauthorized network use
several other banks queried by said much the same thing
the paper put 1986 87 output at 482 mln down from 524 mln in 1985 86 and domestic demand at about six mln tonnes
the bahrain monetary agency has issued a circular to all commercial banks outlining a new policy from april 1 which gives liquidity aid through sale and repurchase agreements in treasury bills or through discounting them
there does seem to be a lot of speculation about the frailty of the bank advisory committees a us official said
suburban bancorp subba merger approved
he said indonesia was in contact with consumers such as the us japan the netherlands west germany and canada ahead of an ico executive board meeting scheduled for april 1
lutchmeenaraido said the move was aimed at boosting the local textiles industry and making this indian ocean island a shopping paradise for textile goods
commercial bank minimum reserve holdings at the bundesbank fell 300 mln marks to 519 billion marks at the end of february averaging 512 billion over the month
the sydney exchange plans to introduce by june a share index futures contract based on a composite of stocks on which equity options are traded which could generate more liquidity than the ordinary index banking sources said
fed says it sets two day system repurchase ageements
the figure was thus outside the three to six pct range set by the bundesbank for 1987
in fiscal 1986 datron earned 1776000 dlrs
ico coffee producers to discuss market situation
the unadjusted shipment index rose 14 pct from a year earlier after a 10 pct year on year january gain
the rise compared to a 18 pct rise in january and a 25 pct rise in february 1986
cotton planting progressed well in the lower valley coastal bend and along the upper coast of texas
chryslers debt issues were put on creditwatch on march nine after the automaker announced plans to acquire american motors corp amo amcs debt is still on creditwatch with positive implications pending the deals outcome
northern indiana ni 12 mths feb 28 loss
hanbury said some japanese companies flush with cash are interested in the expertise of american brokers
he said that although he had heard forecasts of 30 mln bags for the coming crop the ibc would not make any estimate until late april
nz central bank sees slower money credit growth
profit after financial items 8212 mln crowns vs 7402 mln
jutland telephone co plans to issue a 75 mln swiss franc 4 3 4 pct bond with a par price and a maximum 10 year maturity lead manager union bank of switzerland said
dresser said it will use the proceeds from the sale for stock repurchases debt reduction and possibly complementary acquisitions in the field of engineered products and services for energy producers
one issue will be 100 mln dlrs of sinking fund debentures due 2017
he said he was also concerned by the decline in domestic oil exploration
ctc a group of canadian tire dealers said it expected to know by may 11 if it would obtain approval to appeal a previously reported ontario court ruling upholding a regulatory decision to block ctcs offer
also the bonds are more volatile and if interest rates fall in australia as many analysts expect the potential for capital gains is greater with a zero coupon
ranks hovis said that full acceptance of the increased offer would result in the issue of a maximum of 723 mln new ranks hovis shares or about 20 pct of the enlarged issued ordinary share capital of the company
suntrust banks sti raises prime to 7 3 4 pct
birdcage walk ltd a company controlled by the walker family owns 2068 pct of the shares and is entitled to 272 mln convertible shares under the offer
pioneer sugar mills ltd said it considered the proposed 220 dlrs a share cash takeover offer announced by csr ltd csras on march 31 to be too low in view of the grouphkuiie and prospects
flink and voted to change the name of the company to anw inc
in addition to a half dozen ships in the us navys small mideast task force near the straits of hormuz the pentagon has moved 18 warships including the aircraft carrier kitty hawk into the northern arabian sea in the past month
national distillers said at the time it bought enron it would sell the spirits and wine businesses moving more into the chemical area
european monetary sources said bonn was still unconvinced that washington meant business with its commitment to cut the budget deficit
between february this year and february 1986 real earnings rose 05 pct the department said
india steps up countertrade deals
cook ccf to post loss sell stake
shr 10 cts vs 10 cts prior qtr pay april 17 record april 9
qtly div 10 cts vs 10 cts prior pay april 13 record march 13
the rise compared with a 09 pct rise in january
coffee futures drifted lower in response to a report that colombia lowered the price of its exports traders said
utility earnings are sensitive to interest rate increases because of the high levels of borrowings needed to finance ongoing construction projects
but martin said the product cycle was key to understanding the rise and fall of ibm and other computer companies and pointed to digital equipment corp dec to support his view
kaufel group ltd kglm 3rd qtr net
williams cos wmb year loss
united service advisors inc usvspo 1st qtr
shr seven cts vs 20 cts net 184000 vs 387000 revs 9100000 vs 6700000 year shr 13 cts vs 33 cts net 315000 vs 627000 revs 324 mln vs 246 mln
imports in october february fell to 59605 tonnes from 76044 in the same months a year earlier the sugar industry association said
treasury secretary james baker said he hopes yesterdays small increase in two major money center banks prime rate was a temporary phenomenon
herbert said britains redland plc rdldl which holds just under 50 pct of monier still supported the csr bid and had told csr it is not a seller
new zealand to repay 600 mln dlrs foreign debt minister says
he said it was true some countries were strongly opposed but others were less so and others basically in favour
developed countries must seek alternatives to policies that resulted in the transfer of resources and more indebtedness he said
engelhard corp ec sets stock split
shr 38 cts vs 25 cts net 28339000 vs 18650000 sales 227 billion vs 197 billion avg shrs 74485000 vs 74270000 year shr 120 dlrs vs 123 dlrs net 89301000 vs 91247000 sales 907 billion vs 791 billion avg shrs 74387000 vs 74184000 note 1986 period ended february 22 1986 1986 earnings include net loss of unconsolidated subsidiary of 162000 dlrs in the quarter and 702000 dlrs for the year
pat henderson spokesperson for the mge said the exchange expects contract approval at cftcs tuesday meeting
the 49 page report contains an in depth examination of the problems of gas developoment and looks at different ways in which contractual terms might deal with the risks in gas development associated with pricing marketing and volume
he said the canadian and israeli pacts will not set back worldwide reform efforts under the general agreement on tariffs and trade gatt as some critics feared but help them
sri lanka is seeking a total of about 240 mln dlrs in structural adjustment loans to support the balance of payments and in a compensatory financing facility to offset losses in commodity exports
its survey covered 13 oils soy cotton groundnut sun rape sesame corn olive coconut palmkernel palm lin and castor and four animal oils and fats butter fish oil lard and tallow greases
saleh was replying to a question from after traders in london said indonesia had issued licences to import around 135000 tonnes of palm oil for delivery in april
fernandez said the old type of new money agreement where hundreds of banks were forced into involuntary lending by an advisory committee that negotiated agreements with debtor countries was becoming increasingly difficult
the agency said that already it has published ratings on 90 issues of 45 euromarket issuers
its a pity the talks broke down but for brazil this was better than such a quota reduction he added
texaco inc has re established some key oil supply lines following yesterdays court filing for protection under chapter 11 of the us bankrupcty code said elton yates texacos coordinator of worldwide operations
in 1978 the administration of then president jimmy carter floated government securities worth four billion dlrs in marks and swiss francs to try to halt the the dollars depreciation
armstrong world ack unit buys plant
ivory coast weather no problem for 1986 87 crops
brooklyn union bu seen hurt by pipeline closure
the loans were purchased by prudential baches energy growth fund a limited partnership created last month with 90 mln dlrs in funding to invest in oil and gas properties
about 1600 tonnes remain to be discharged
oscar mayer and co inc a unit of philip morris cos inc said it will redeem all of its outstanding 785 pct debentures due january 15 1996 on april 30 1987 at 101450 dlrs plus accrued interest for each 1000 dlrs prinicpal amount
usp real estate investment trust usptso 3rd
qtly div 55 cts vs 55 cts prior pay june 15 record june 1
speaking to reporters after a speech to a toronto business group reuber said i think at this stage it is really too early to say very much about the brazilian debt situation but were pretty confident that things will work out he declined to comment on when such a settlement was likely
to become operational it will require ratification by countries accounting for 75 pct of world exports and 75 pct of world imports
the bank of canada ottawas fiscal agent in the marketplace revealed this week that sharply reduced borrowing needs has allowed the shift toward shorter bond terms and heavier emphasis on the weekly treasury bill auction issued in terms of up to one year
japans january seasonally adjusted industrial production index base 1980 was revised upwards to 1223 from a preliminary 1220 the ministry of international trade and industry said
it also owns 80 pct of cable and wireless hong kong while the hong kong government holds the balance
brazil today suggested to its foreign bank creditors an extension of short term credit lines for 60 days until may 31 a spokesman for the central bank said
the bank of england said it provided the market with unspecified late assistance worth 15 mln stg
however the institutes criticised the government not only for the timing of the reform but also because the question of its financing had been left open
the thai mineral resources department is expected to disallow new tin mines opening this year to prevent excessive production industry sources said
earnings per adr according to us accounting principles after real tax without the writedown 98 crowns vs 949
for the first nine months of 1986 the company lost 9476000 dlrs on revenues of 454 mln dlrs compared with a 1784000 dlr profit after the early retirement gain on revenues of 385 mln dlrs
encor traded earlier on the toronto stock exchange at 7 1 8 near its 52 week high of 7 1 2 and up from around six dlrs in early february
anthony maccia vice president of woodhouse drake and carey was named second vice chairman and clifford evans president of demico futures was elected treasurer
economists said the overall data reflected exceptionally bad weather at the start of the year and stricter quality controls imposed on enterprises
the company said it now has about 22 pct ownership of cyclops on a fully diluted basis and expects to proceeds toward completion of its proposed acquisition of cyclops
i would not be surprised at all if the monetary aggregates were to grow rather slowly during the balance of the year as well he added
however it does include one moderation of an option contained in that pact which introduces yet another catchphrase into the jargon for reschedulings
onyx petroleum exploration co ltd year loss
a floating rate treasury note issue by the republic of austria is likely to be raised to 25 billion schillings from two billion due to heavy demand lead manager oesterreichische laenderbank ag olbvvi said
the talks come after brazils interest rate moratorium and an uncompromising stand by the countrys finance minister dilson funaro after talks with western leaders
mexican hydrocarbon reserves fall slightly in 1986
indonesias foreign debts are a cause for concern but remain within manageable limits world bank president barber conable said
at some time during that period all the producers cut support prices in response to growing surpluses
berliner bank issues 50 mln australian dlr bond
magnetic technologies corp mtcc 1st half net
taiwan issues more certificates of deposit
prices paid were at or above the prevailing intervention feed wheat price of 12071 stg per tonne
condere said it expects first year revenues to be 90 mln dlrs
any farm loan secondary market would be modeled after the successful resale markets in home mortgages the government national mortgage association gnma and the federal home loan mortgage corporation freddie mac industry sources said
energy secretary john herrington said he would rule out a tax on gasoline as one option to help avert what his departmet has called the threat of increased reliance on foreign oil in the coming years
norways north sea neighbour britain has consistently refused to cooperate with opec output cuts saying it is up to the producing oil companies to set the levels of production
leader development ldcoo merger approved
uk chancellor of the exchequer nigel lawson said the recent dispute between the united states and west germany over economic policy was responsible for much financial turmoil and that it should never have happened
the european community ec is expected to award export licences at todays weekly tender for above 60000 and possibly up to 100000 tonnes of white sugar after last weeks award for 102350 tonnes traders here said
for many third world nations the loss of the forest is not just a loss of resources said delfin ganapin a philippine government consultant on environmental impact
net 7237000 vs 5938000 sales 6308 mln vs 6018 mln year net 341 mln vs 205 mln sales 275 billion vs 261 billion note twelve and 52 week periods
sterling peaked at a high of 16075 dlrs before settling to a steady 16050 dlrs about 1300 gmt nearly a cent higher than the european low of 15960
on february 25 citgo lowered its crude postings 50 cts to 150 dlrs per bbl and cut wti one dlr to 1600
it said it accepted an offer to sell foreclosed property and increased its loss reserve by 750000 dlrs in anticipation of the sale
eia says distillate stocks off 32 mln bbls gasoline up 22 mln crude up 75 mln
french free market cereal export bids detailed
the agreement presents the house and senate agriculture committees with difficult choices on how to make changes in agriculture programs that achieve the budget savings targets without jeopardizing popular support payments senior congressional aides told 
wall street sources said twa has some cash with which to do the offer
all of the economists agreed that the federal open market committee tomorrow will leave fed policy unchanged
at 23 pct the proportion of companies rating their export books above normal was unchanged between february and march
industrial output in january was 609 pct above the same 1986 month after rising 671 pct in december brazilian geography and statistics institute figures show
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
the japanese the dominant foreign investors in us dollar securities have already sold us equities
their industries havent been doing it and i think well have a good settlement to spare both sides i think the japanese understand full well that they havent lived up to this commitment he said
moodys investors service inc said it raised to baa 3 from ba 1 about 86 mln dlrs of subordinated debt of hechinger co
firms hit included zahnradfabrik passau gmbh and aerospace group messerschmitt boelkow blohm gmbh
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
japan us will be at odds while trade lopsided
canada plans to offer a three part bond issue tuesday april 14 which will be dated and delivered may 1 the finance department said
standard trustco sees better year
ocilla industries ocil unit obtains credit
the fed said the february gain was dominated by a sharp rise in motor vehicle production which boosted output of both consumer goods and business equipment
moodys said the merger should strengthen the banks earnings potential through the acquired access to pncs product lines
they said they would mine 460000 tonnes of proven and probable mineable reserves of oxide ore grading 045 ounce gold per ton at a yearly rate of 112000 tonnes for a mine life of 425 years
ten of the departing companies were based in san francisco
qtly div seven cts vs seven cts prior pay june one record may four
domestic imports last week were 306031
in addition hbo said its financial condition is improving rapidly as the result of a significant restructuring implemented in 1986
hofmeister declined to comment on japanese trade estimates that he had sold around 30000 to 32000 tonnes in kuala lumpur and new york since september
a former us agriculture department official urged the department to require that packages of chicken be labeled with handling and cooking instructions to protect the public from disease
the 30 mln dlr fee is among the highest set down in any tender offer agreement either in compensation for dealer manager services or for break up of the deal
but earnings from currency dealing were still satisfactory he told a news conference
it also put out an alternative policy statement by commissioner charles stalon
kaufman and board inc and its insurance subsidiaries said they lowered their stake in quaker state oil refining corp to 1795908 shares or 69 pct of the total outstanding from 2120908 shares or 81 pct
for the 12 months ended in february the cpi rose an unadjusted 21 pct
ico council ends in failure to agree quotas
new foreign shipbuilding orders received by japanese yards in may fell to five vessels totalling 188900 gross tons gt from eight ships of 314000 gt in april against four ships of 104500 gt a year earlier the japan ship exporters association said
anz securities said the program is aimed at investors in asia where there is strong potential for a big market in short term australian dlr paper
he said they would have to get convertible currency and open their books and the soviets dont usually do that
morgan stanley and co ms rose 4 1 4 to 74 7 8
bills maturing in official hands and the treasury bill take up would drain 121 billion stg from the system while a rise in the note circulation and below target bankers balances would take out 265 mln and 180 mln respectively the bank said
in addition provisions for borrowing to finance the buffer stock have now been eliminated ruling out speculation
obviously the marine industry is not getting any better he said
fees total 1 1 2 pct with a half point for management and underwriting and one point for selling
retail movement was 1741139 versus 1464490 a year ago
the adjacent property is expected to begin in 1989
tektronix inc tek quarterly dividend
bayliss a former economist with the reserve bank and the bank of new zealand said a major depreciation is needed to restore export competitiveness even if inflation is cut by current government policies
chemlawn has already said it is holding talks with various parties on the sale of the company and said it has informed all potential purchasers that they mnust sign confidentiality agreemnents to receive confidential information on chemlawn
we are closing because of our huge stock of unsold sugar
because rockwell has not floated debt since 1984 the companys note issue is a museum piece he said
the loan is for 17 years including four years of grace with a variable interest rate currently 792 pct the bank said
they financed it entirely with debt the currency collapsed on them and then the oil price collapsed on them owen evans of sydney broker meares and philips ltd said
omnicom group omcm sets regular payout
the paris club accord in turn was part of a broad based rescheduling package covering 77 billion dlrs of mexicos foreign debt
hutton lbo is committed to keeping the courier business its president warren idsal said
cb and t cbtb completes acquisition
finance minister cleopa msuya said the government expected to spend 7733 billion shillings in the financial year 1987 8 39 pct more than this years estimate
disclosed group risk provisions rose to 867 mln marks in 1986 from 765 mln in 1985
comments by japanese officials and bank of japan dollar support had pushed it above 145 yen and 180 marks after falling as low as 14450 and 17860 respectively in tokyo
mthly div 15 cts vs 15 cts pay april 15 record april 1
the year on year trend of government stock building is continuing with year on year company stocks also rising more or less in line with consumption after declining for five years the iea noted
speaking at an american chamber of commerce lunch in the hague engering noted the developing history of crises over steel citrus and pasta and warned of more to come
the canadian imperial bank spokesman said the bank card market is a very competitive one and we have to move to stay competitive canadian imperials new rates match those of toronto dominion bank which lowered its rates before the finance committee report
diceon said symtron management would continue running the business which would become a wholly owned subsidiary
in late january group president francois xavier ortoli told journalists that the slump in oil prices and the weak dollar had caused the stock depreciation turning a consolidated net profit before losses on stocks of six billion francs into a consolidated net loss of 15 billion francs
turner said the prospects were good and it looked forward to taking advantage of the opportunities available
norway decided on the initial round of cuts following an opec agreement last december which boosted oil prices to around 18 dlrs per barrel from around 14 to 15 dlrs last december
vernells was acquired by quaker in its acquisition of golden grain macaroni co in august 1986
cumulative purchases so far this season stand at 217449 tonnes ahead of the 204256 tonnes purchased by the 24th week of last season
dharyono said the aice will send delegations to the us and japan to brief indonesian embassy officials there and press them to present indonesias case more firmly
westpac banking corporation is issuing a 50 mln australian dlr eurobond due may 6 1990 paying 14 1 2 pct and priced at 101 1 4 pct lead manager deutsche bank capital markets said
uncertainty is growing about the vitality of the global economy and whether the heavily indebted countries can continue to carry the burden of their growing debt without vast new assistance
federal funds traded at 5 15 16 pct late friday and are expected to open about there today with no fed action seen
hmo america inc hmoa year loss
six months to december 31 shr 88 cts vs 05 ct interim dividend 125 cts vs nil group net 95 mln ringgit vs 06 mln pre tax 11 mln vs 11 mln turnover 889 mln vs 708 mln note dividend pay may 15 register april 17
us senators seek to expand usda export bonus
apart from xiamen international bank and the international agricultural development bank planned by the world bank and the state owned agricultural bank of china xiamen has eight foreign bank branches or representative offices mostly of hong kong or overseas chinese banks
simon who resigned last month as bronx borough president was accused of extorting the money and forcing the now bankrupt contractor the wedtech corp to hire his brother in law and then give him raises
the complaint also discloses that on each occasion multifoods management rejected the groups overtures
indias sugar output to january 31 in the 1986 87 season october september rose to 366 mln tonnes from 346 mln in the same 1985 86 period the indian sugar mills association said
the repurchase agreement yields compare with the 35625 pct one month commercial bill discount rate today and 36250 pct on two month bills
last years performance was the worst since 1974 when gnp fell 14 pct
raised were the companys senior debt to ba 1 from ba 2 and subordinated debt to ba 3 from b 1
the agency said new management would be challenged to reverse operational problems that hurt profitability and cash flow in the past two years
south africa banks agree new debt repayment plan standstill extended to 1990 bankers
i think china will develop into a fine market for us he added
they said export licenses for about 500000 tonnes have been issued so far
total sales of the 15308 firms with capital of 10 mln yen or more which responded to the poll fell one pct to 217217 billion yen against a 12 pct fall the previous quarter
sis corp sisb year net
mccarthy and stone gets 100 mln stg facility
major reasons for the decline are expected reduced government support price and good summer crop harvests
the offer was raised on march 24 to a final 675 mln dlrs in cash after cpc told amylum its initial bid was below ferruzzis 630 mln stg offer callebaut said
ef hutton group inc shares rose on speculation the company would receive a takeover offer traders said
a group of fidelity companies owns eight pct of purolator and gardner said he personally owns 20000 shares
an argentine mission is now in the us for talks with 11 banks seeking to win an easing of repayment terms and secure the loan
the federal government and the japanese trading company c
qtly div five cts vs five cts prior pay april 20 record april 13
nothing has changed substantially to give the dollar a big boost said one dealer while another italian banker said he expects the dollar to trade between 177 and 187 german marks in the next three months
lawson says his sterling target comments were misunderstood and insignificant
de kock interviewed on state run television gave no breakdown of the reserves
qtly div 40 cts vs 40 cts pay april 10 record march 25
pay talks aimed at ending a week old national seamens strike collapsed today and the strike will continue a union official said
merrill lynch will continuue to act as dealer for the program with shearson lehman brothers international and sg warburg and co ltd as co dealers
the issue announced earlier today by the french bond issuing committee is of 5000 franc nominal bonds
shr profit 22 cts vs loss 22 cts net profit 430373 vs loss 433395 sales 7723838 vs 6219157 nine mths shr profit 49 cts vs loss 120 dlrs net profit 960008 vs loss 2338286 sales 232 mln vs 199 mln note 1986 data restated to reflect operations discontinued in 1986 1986 earnings exclude loss from discontinued operations of 319055 dlrs or 16 cts a share in the quarter and 906962 dlrs or 46 cts a share for the nine months
standard and poors corp said it raised to b from b minus valero energy corps preferred stock
loewy said the initial figures appeared to be negative for both new crop corn and soybeans and might possibly mean an upward adjustment in planting intention figures
duff and phelps said it is upgrading to duff 1 one minus from duff 2 its rating on baxter travenol incs commercial paper totaling about 541 mln dlrs
futures on the government debt securities of japan canada and great britain can already be marketed in the united states under a designated exemption issued by the sec
the commodities will be supplied in the current fiscal year ending september 30 and sales will be by private us traders on a competitive bid basis
he said some benefits of a new management information system will be felt in 1987 and more substantially in 1988
in a move that came a day earlier than most expected the fed today supplied permanent reserves to the banking system by offering to buy all maturities of treasury notes and bonds for its own account
prior qtr and year figures include gains from discontinued operations of 66 mln dlrs and 126 mln dlrs respectively
united security said it is anticipated that such stock would represent a substantial majority of the shares outstanding after the merger
comtech cmtl to sell premier microwave
french free market cereal export bids detailed
the us agriculture department estimated 1986 87 citrus production as follows in boxes total us orange crop excluding florida temples 190050000 boxes vs 190850000 boxes last month and 176410000 boxes in the 1985 86 crop
however the study said that primary production likely to reach 10000 tonnes this year against a provisional 9950 in 1986 is relatively insensitive to price falls
in fact he said theres a chance those banks could get more involved in the future
the sources said total saudi refinery throughput fell slightly in february to an average 11 mln bpd from 12 mln in january because of cuts at the yanbu and jubail export refineries
non callable to maturity the notes are rated a 1 by moodys and a by standard and poors
exxon xon cuts heating oil price traders said
proposed offerings recently filed with the sec
extraordinary debit 91 mln vs credit 115 mln
report expects sharp drop in world iron imports
kodak holds 470000 sahres of icn currently trading at about 18 3 4 and 700000 of viratek trading at 44
taiwan buys 27000 tonnes of us soybeans
gte corp filed with the securities and exchange commission for a shelf offering of four mln shares of auction preferred stock on terms to be set at the time of sale
japan buys 5000 tonnes canadian rapeseed
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
county ltd which is acting in concert with tesco plc tscol in its 1514 mln stg for supermarket chain operator hillards plc has purchased 300000 hillards ordinary shares at 316p per share a statement said
he said the transaction left goldman sachs international with an exposure of about 22 mln dlrs but that it had insurance to cover the loss
the house energy and commerce subcommittee on commerce approved as an amendment to the overall house trade bill a provision giving reagan the power to block sales to foreign companies if the sale was not in the national or economic interest
bouygues bouypa tv award seen boosting group
if the ico consumers accept our proposal it stands at least a fair chance of being accepted by the producers at the september meeting most of whom are generally in favour of a new quota formula van horick said
unit two is about 60 pct complete it added
the loan will first be in the form of a temporary global note and be replaced later by subscriptions of 1000 and 10000 ecus
however other economists disagreed saying the service sector would be able to hire workers no longer needed by the manufacturing sector over the next five years
provided the recovery in oil prices was maintained the conditions would be right for a substantially improved performance this year
chemical chl raises prime rate to 7 3 4 pct
shr 79 cts vs 73 cts net 22901000 vs 21042000 sales 3361 mln vs 3341 mln
zambian currency falls at foreign exchange auction
it said the dividends will be paid april one to shareholders of record march 16
ball corp said it completed the acquisition of privately held verac inc
cut were the companys senior debt to aa minus from aa and subordinated debt to a plus from aa minus
fiscal 1986 net profit includes a pretax gain of 72 mln dlrs on the sale of some land an after tax loss 135 mln dlrs from discontinued operations and an after tax gain of 67 mln dlrs from a change in accounting
the tender closes march 28 at 0500 gmt
i certainly wouldnt tighten money at this particular moment regan said when asked about the prospects for a recession following mondays price drop on wall street
asked to comment on chiles agreement with its creditors today which includes an interest rate margin of one pct over libor azpurua said only that is good news according to banking sources the banks latest offer to venezuela is also a one pct margin as against the last februarys 1 1 8 pct rescheduling accord and the 7 8 pct venezuela wants
last year a large proportion of the crop was not drilled until may but it still turned out to be the equal second largest on record
employers in rotterdams troubled general cargo sector have decided to restart stalled redundancy procedures within a week employers organisation labour relations manager gerard zeebregts told 
near may in london hit a five year low this morning at 1220 stg about 50 stg below last nights close they said
he told a bank presentation the soviet union was last year hit by the fall in world oil prices which cut export revenue from oil related products and natural gas and its overseas buying power was also adversely affected by the lower dollar
he said no date has been set for the meeting and declined to comment on published reports in the past few months that banks may demand accelerated repayments
security pacific corps security pacific merchant bank said acting as lead manager it has offered 270 mln dlrs in 30 year and 35 mln dlrs in 15 year mortgage pass through certificates
lce and ipe elect first traded options members
to keep it a secret is part of our strategy he added
taiwans balance of payments surplus widened to a record 1662 billion us dlrs in calendar 1986 from 935 billion in 1985 the central bank said
northern 1 was loaded with 3000 tons of sugar from demerara
the financing marked the first trip to the international capital markets for the borrower since 1985
last january chavin said he retained investment banker rg dickinson and co to advise him on his myers stock dealings
faced with heightened protectionist sentiment in congress the reagan administration has been stepping up the rhetoric against taiwan and korea urging those countries to allow their currencies to appreciate and lift impediments to free trade
in 1985 brazil exported 196 mln bags of soluble and green coffee including about two mln bags to non members
crandall said that previously firms activities were limited to trying to sell us securities to european investors
the exchange reflects the feb 23 three for two bellsouth stock split the company said
french industrial production falls in january
bnl unit issues 15 billion yen eurobond
galveston said it will earn up to a 50 pct interest by spending a minimum of one mln dlrs in exploration and development work by december 31 1989
the company said the conversion right will terminate after 1700 est april 9 for the debentures and 1700 est april 13 for the series c
chemlawn says it rejects 27 dlrs per share tender offer from waste management
for all of last year it earned 109 mln dlrs
according to the exchange offer each 1000 dlrs principle of subordinated debentures will be exchanged for 1000 shares of common stock 500 dlrs principal of a variable interest subordinated debenture and 24 shares of convertible preferred stock the company said
the hong kong association of banks said it decided to leave interest rates unchanged at todays regular weekly meeting
industrial companies have done most of the swaps to date and hegewisch said that many of the applications now pending are for investments in the electronic and chemical industries with japanese and korean firms showing particular interest
detailed terms were not disclosed
the bank also bought 400 billion yen in two month commercial bills to smooth out tight credit conditions in the interbank market today the officials said
the company earned 286969 dlrs in last years fourth quarter
london freight market features grain out of us 
he told reporters the country deserved a higher quota in compensation for the five months it was forced to suspend oil production when its main pipeline was destroyed by an earthquake last march
the corn compounding ratio rose to 452 pct in 1986 87 from 434 pct a year earlier
volcker said he believed brazil and ecuador want to maintain continuity in their debt service
magma copper co a subsidiary of newmont mining corp said it is raising its copper cathode price by 025 cent to 6575 cents a lb effective immediately
we supply and they japan buy a very high quality of beef
if in effect now the bill would limit credit card rates to 138 pct compared to a nation wide average of 18 pct the subcommittee said
the lead managers are the state bank of india grindlays bank plc and mecfint jersey ltd
its normal
japan has also attacked oecd forecasts which it says do not take account of the structural changes in the japanese economy that will be triggered by the strong yen
but you can achieve an enormous effect with a small amount if you strike at the right moment he said
another ship is loading 17000 tonnes of colza for the soviet union
gary associates lp which said previously it may seek control of gull inc said it increased its stake in gull common stock to 388900 shares or 77 pct of the total outstanding from a previous figure of approximately 318000 shares or 62 pct
zuercher ziegeleien sets 60 mln sfr warrant bond
parent company net profit 191 mln vs 1509 mln
shr 37 cts vs 35 cts net 4346000 vs 4202000 revs 2320 mln vs 2232 mln
if the results are positive and a commitment to develop made then construction would take about 12 months placer said
total nonperforming assets were 1141 mln dlrs at march 31 up from 534 mln dlrs at december 31 and 79 mln dlrs at march 31 1986 the bank said
camco signs letter of intent for reed tool
ohio edison co said it has completed the sale and leaseback of 30 pct of its 30 pct interest in unit one of the perry nuclear power plant receiving 509 mln dlrs for the interest
the board of medical properties inc said it has declared an initial monthly cash dividend of 11 1 2 cts a share and has adopted a monthly dividend policy
the bank said it approved 517 mln for an agricultural inputs program for bangladesh aimed at sustaining foodgrain production
malaysias debt service ratio will also be maintained at a level no higher than 20 pct he said
argentinas chief debt negotiator said he was confident of a prompt accord with international creditor banks for rescheduling the countrys foreign debt
jwt jwt not approached by group seeking shares
in response to hostile questioning from a member of the house appropriations committee the officials said the plan was justified to help bring the fiscal 1988 budget deficit and to get the government out of the oil business
both home produced and imported goods rose by 01 pct during the month
outside the house energy minister marcel masse said petro canada would be worth between three and four billion dlrs and because of the size could be difficult to sell
gates learjet corp glj 4th qtr loss
the federal reserve entered the government securities market to arrange two day repurchase agreements for system account a spokesman for the new york fed said
in addition he signaled that the banks might want to reconsider the idea of a megabank where third world debt would be pooled and suggested the administration would support such a plan even though it was not formally proposing it
owing some 382 billion dlrs of foreign debt latin nations have since the start of the decade paid out some 200 billion dlrs in interest and principal and received about 28 billion dlrs in new loans
celina celna shareholders approve sale
combined intl pma holders to vote on split
viacom via receives two revised offers
the pact calls for transmission of gas owned by arkansas western gas co seeco inc arkansas gas gathering co and southwestern energy production co southwestern energy said
economists see sluggish japanese economy ahead
costs of restructuring reorganisation employee training and retraining particularly in the uk automotive businesses together with high research and development spending would affect profits in the short term
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
gandalf technologies inc said it acquired a significant minority equity interest in privately held data voice solutions corp of newport beach calif for undisclosed terms
this was 519 pct up from 4998 billion at the end of november and 4185 pct up from 3709 billion in december 1985
the bonus issue will bring its outstanding capital shares to 6502 mln from 6192 mln as at march 31 1987
science management corp smg 4th qtr oper net
he said japanese ore imports in calendar 1987 would total 96 mln tonnes compared with 1035 mln in 1986
cra and whim creek did not disclose the price yesterday
south africa optimistic about debt talks
austerity is still the watchword but saudi arabia will not be allowed to dip further into recession the saudis can afford to draw down reserves temporarily to offset the worst effects a diplomat said
a call for retaliation also came from the semiconductor industry and from its chief trade union
earlier new zealand sources had said french foreign trade minister michel noir had pulled out of the informal gatt talks for domestic political reasons
trump and interstate in talks for alexanders
ample supplies limit us strikes oil price impact
we lost very little land prior to 1980 when the industrialisation began official xu said
the department had given its tentative approval of the acquisition in january
industry sources said latest forecasts for the 1987 crop indicated output of 360000 tonnes well down on the record 501800 tonne tel quel production in the 1986 may december crop year
stanley works swk makes acquisitions
shr primary 36 cts vs 31 cts shr diluted 36 cts vs 31 cts net 251 mln vs 217 mln revs 153 billion vs 139 billion avg shrs primary 688 mln vs 689 mln avg shrs diluted 705 mln vs 710 mln nine mths shr primary 132 dlrs vs 113 dlrs shr diluted 130 dlrs vs 111 dlrs net 908 mln vs 776 mln nine mths revs 518 billion vs 458 billion avg shrs primary 689 mln vs 688 mln avg shrs diluted 706 mln vs 710 mln note net is before preferred dividend payments
the issues are aimed at curbing the growth of m 1b money supply which is the result of large foreign exchange reserves the official said
bill emerson r mo
technician leslie keefe of technical data corp of boston said that the key test for june bonds will be whether the nearby contract holds above chart support at 96 24 32
today it reported a loss for the third quarter ended december 31 of 561029 dlrs compared with a 114712 dlr loss a year before
a partnership of two belgian owned firms petrofina sa and cometra oil sa paid 150 mln dlrs late last year to buy virtually all the exploration assets of the williams cos wmb the oklahoma pipeline firm
the industry has argued for the maintenance of existing quotas which cover almost 70 pct of all output saying almost all steelmakers are losing money due to the depressed market
trailways has abandoned all service in seven states in the past year and more than half of its sevice in three other states the company said
also the role of the developing countries has been emphasised in this particular meeting
first interstate i estimates brazil risks
bhp to merge bhp minerals and utah international
talking point gold
treasury secretary james baker urged commercial banks to be open to new ideas for reducing the third world debt burden
the bank said m 2 which measures notes and coins in circulation plus bank and post office deposit accounts fell to a provisional 609457 billion lire in january from a downwards revised but still provisional 615307 billion in december 1986
they have thus decided that their selling price would not be linked any more to the prices quoted by these publications and that sales would be made at a minimum price of 300 dlrs fob per jar which is close to their production cost the statement said
garcia said the other gold bearing deposits are located at tamborapa pachapidiana and a zone between the cenepa and santiago rivers
nova an alberta corp 4th qtr loss
he said as the stock moved up following acquisition proposals from a group formed by afg industries inc afg and wagner and brown some of his clients were overweighted
afg has 185 mln dlrs of bb plus subordinated debt and gencorp carries 100 mln dlrs of same rated subordinated debt
shr 104 dlrs vs 78 cts net 1092 mln vs 839 mln revs 5613 mln vs 4605 mln nine mths shr 261 dlrs vs 191 dlrs net 2738 mln vs 2066 mln revs 156 billion vs 127 billion note per shr amounts reflect the 2 for 1 split to shareholders of record on june 1 1987
bundesbank allocates 61 billion marks in tender
in recent weeks the venezuelan government has denied rumours that it intends to impose foreign exchange controls to prop up the weakening bolivar
he added that the extremely steep fall in agricultural commodity markets had dealt a harsh blow this year to the ivorian economy and because of this the country was experiencing a growth problem and difficulties with its international debt
shr five cts vs seven cts net 64652 vs 96157 sales 1205321 vs 1499591 note backlog three mln dlrs vs 2600000 as of june 30 1987
federal funds opened at 7 5 8 pct and remained at that level late this morning compared with an average effective rate of 755 pct friday
shr 32 cts vs 38 cts qtrly div 35 cts vs 35 cts prior net 731055 vs 865117 note dividend payable may 20 to shareholders of record april 24
its total assets at the end of 1986 were about 12 mln dlrs
he said that the company expected net pricing to be higher and unit volume to improve in the remaining quarters of the fiscal year
chemical will show us how to take advantage of enhancing our consumer products he said referring to expansion of such existing products as credit cards and investment banking
oil and field natural gas liquids production totalled 86000 barrels a day compared to 87000 bpd in the prior year
oper shr profit nine cts vs loss seven cts oper net profit 628000 vs loss 491000 sales 507 mln vs 418 mln avg shrs 7033000 vs 6557000 note oper net excludes extraordinary profit of 423000 dlrs or six cts a shr and 110000 dlrs or one ct a share respectively in 1987 and 1986 quarters from utilization of tax loss carryforwards
swiss to launch new series of money market paper
credit agricole offers to swap bonds
but it is too early to say what happened he told bbc radio
kuwait says no opec member violating output quota
republic savings and loan rsla 3rd qtr net
period end may 31 shr profit four cts vs loss 22 cts net profit 139000 vs loss 799000 revs 1019 mln vs 868 mln
more than one official has warned opec would find its solidarity under scrutiny by the end of april or start of may it said noting demand usually fell with the onset of summer
india bought at least eight cargoes sugar trade
le matin was printed and distributed by southam inc s montreal gazette newspaper
non currency reserves were unchanged at about 25 billion marks bringing net monetary reserves to 847 billion
the world bank african development bank european community canada belgium west germany britain sweden italy and denmark had contributed to the package he said
the smelter also produced cadmium bismuth and indium
gencorp to sell los angeles television station to walt disney co
japanese companies are not fully confident in managing a large us or european corporation one banker said
the company said investment bankers drexel burnham lambert inc and alex
an official at colombias national association of sugar cane growers said they had no plans to raise export targets
french maize producers association president marcel cazale citing the result of the usda calculation for corn told reporters last week that the united states subsidizes its farmers more than the ec
the department also said the guarantee line for sales of us wheat under the export credit guarantee program gsm 102 has been decreased 450 mln dlrs to 600 mln
oper shr 27 cts vs 29 cts oper net 135 mln vs 146 mln revs 1046 mln vs 1103 mln 12 mths oper shr 410 dlrs vs 366 dlrs oper net 205 mln vs 1868 mln revs 14 billion vs 13 billion note 1986 12 mths oper net excludes extraordinary gain of 217 mln dlrs or 46 cts per share from sale of virginia service territory to virginia power
the action follows us supreme court justice sandra day oconnors overnight granting of delta and westerns request to stay an earlier injunction against the deal issued by the us court of appeals for the ninth circuit
non callable for three years and non refundable for five the issue is rated b 2 by moodys investors service inc and b minus by standard and poors corp
weston said earnings for the firstg quarter will be about flat due to the recent substantial addition of management and technical staff and an expansion in the southeastern and northwestern us the company said full year earnings and revenues are expected to be higher
shr 55 cts vs 48 cts net 2520000 vs 2211000 nine mths shr 157 dlrs vs 141 dlrs net 7223000 vs 6475000
baglini said that as a result todays scheduled second day of talks had been postponed
subsidies in argentina and brazil two major developing country producers of commodities were not included in the oecd work
metromedia said oneplus uses a local switched network rather than dedicated connections to link customers to the nearest metromedia long distance switching center and could save customers up to 35 pct off of competitors rates for long distance service
the airline with something to lose will be air canada
the region has been hoping for a seventh replenishment of iadb resources of at least 20 billion dlrs for 1987 90 as against 157 billion for the previous four year period
as previously disclosed henley made necessary filings under the hart scott rodino antitrust improvement acts to permit henley to increase its investment in sante fe to 249 pct of the outstanding common stock from 503 pct
brazil cotton crop lower usda report
uk fourth quarter trade deficit 26 billion stg
semi annual div 7 1 2 cts vs five cts pay april nine record march 26
the long term wheat production target is for some 17 mln tonnes by mid 1993 taking into account pakistans annual population growth rate of more than three pct
the minimum denomination of commercial paper offered and purchased would be 250000 dlrs
the pooling of resources in semiconductors is a positive move why should the government step in to prevent it japans minister of international trade and industry hajime tamura told a press conference that interference by us government officials in the fairchild deal was inappropriate
the international development association ida is lending 186 mln dlrs to sri lanka for agricultural research and development the world bank said in a statement
the japanese term customers however have so far been unsuccessful in establishing a transparent price formula to replace the existing unilateral monthly price notice
shr four cts vs one ct net 335000 vs 67000 rev 101 mln vs 87 mln avg shares 7933000 vs 8553000 six months shr seven cts vs two cts net 570000 vs 133000 rev 199 mln vs 168 mln avg shares 7952000 vs 8551000 note qtr includes extraordinary gain of 125000 dlrs or one ct a share while six months net includes gain of 150000 or two cts a share
transamerican has been operating under chapter 11 of the federal bankruptcy code since january 1983
the department said since the adjusted world price is above the loan repayment rate of 44 cts per lb for the base quality no first handler cotton certificates will be issued during the period
amsterdam rotterdam bank nv amroas said it plans to issue 300 mln 675 pct capital bonds due 1988 2007
both union and non union meatpackers who returned to work agreed to comply with iowa beefs last contract offer
kaczurba told the official pap news agency recently making up our lost position will take a long time and be uncommonly difficult and in certain cases impossible in a period of two to three years it will be possible to increase the level of exports by only about 100 mln dlrs while poland is unlikely to seek compensation it says it has a moral right to assistance from the us which it says imposed the sanctions illegally
he said the bank which in the past has concentrated on making loans that assist the basic underpinnings in the developing world such as dams roads and sewers will increasingly make assistance available for economic reform
in january wholesale prices rose 08 pct from december to stand 86 pct below their level in january 1986
however citicorp said in the 8 k filing that it is premature to make such a decision at this time in view of the fluidity of the situation and managements high confidence in the long term outlook for brazil brazils new central bank governor francisco gros met senior commercial bankers here on wednesday and citicorp said formal talks on brazils recent actions and future financing needs should begin in the near future citicorp said in the filing the issue will be re evaluated at the end of the first quarter the bank group continued if it is decided that these loans to brazil should be placed on a cash basis citicorp estimates based on existing interest rates that the impact in the first quarter would be approximately 50 mln dlrs after tax and for the full year would be approximately 190 mln dlrs after tax it added that these amounts include interest accrued in 1986 that has not yet been collected
in some cases these will be securities related in some cases trust bank related
fed says it sets 15 billion dlrs of customer repurchase agreements
nippon oil co ltd npolt predicted parent company net profit of about nine billion yen in the year ending march 31 down 104 pct from a year earlier president yasuoki takeuchi told a press conference
meinhardt said linde strengthened its market position in the refrigeration sector with particularly strong turnover and order gains in austria italy and norway
rise seen in french rapeseed soybean sowings
brazilian consumer prices rose 139 pct in february compared to januarys record rate of 168 pct the brazilian geography and statistics institute said in a statement
luxtec corp said it has reduced the exercise price of its class b common stock purchase warrants to one dlr from two dlrs from today through june 30
am international inc am 2nd qtr jan 31
the review follows the agreement by the british based real estate firm to acquire a controlling interest in oldham estate plc and its offer to buy the remaining equity
japan joining international cocoa agreement
manila had demanded a renegotiation after argentina won a 13 16 of a percentage point spread but it later dropped this demand
skorea current a c surplus seen near 10 bln dlrs
san diego gas and electric co said a california public utilities commission decision to reconsider allowing only 20 mln dlrs of the 69 mln dlrs in san onofre nuclear station costs it disallowed makes it likely that earnings in 1987 will be reduced at least 36 cts per share
exports in the first four months were worth 269 billion dlrs compared with imports of 392 billion
bank of japan steps up dollar buying
oper shr 94 cts vs 93 cts oper net 8889000 vs 8570000 revs 1550 mln vs 1234 mln avg shrs 9450000 vs 9174000 note net excludes discontinued operations a gain of 4679000 dlrs or 50 cts a share vs a loss of 720000 dlrs or seven cts a share
colombian oil exports not affected by quake
the february index was 02 pct up on january
we need to find new business chances komatsu said
he said stocks were about normal at 90000 tonnes
csr last year wrote off more than 550 mln dlrs in losses on what had been a 591 mln us dlr investment financed entirely from us dollar debt they said
the company acquired knox lumber co for about 243 mln dlrs in october 1986
a spokesman at first chicago corp fnb said it is premature to put brazils loans on a cash basis
the cccs total net realized loss from operations amounted to 194632 mln dlrs for the two months ended november 30 1986 compared to 12016 mln in the same period a year ago
this compares with a minimum reserve commitment of one mln tonnes which pakistan will maintain at all costs and a strategic reserve target of two mln tonnes
the us treasury said it will sell 132 billion dlrs of three and six month bills at its regular auction next week
jardine matheson holdings ltd jardhkg year 1986
aurelio periquet president of the philippine chamber of commerce and industry told the debt accord had positively translated the international banking communitys confidence in the countrys economy and aquinos government
demand for foreign exchange has consistently outstripped supply encouraging banks to bid high and thus further weakening the naira
the aggregate five year yield will amount to 4277 pct of the principal on maturity
this would help agriculture because some its inefficient non productive segments would stop operating he said
period ended feb 28 shr 61 cts vs 56 cts net 2764000 vs 2540000 sales 604 mln vs 558 mln six mths shr 127 dlrs vs 115 dlrs net 5741000 vs 5269000 sales 1228 mln vs 1099 mln note per share data restated for 10 pct stock dividends paid to holders of record dec 26 1986 and dec 26 1985
six major thai major banks reduced minimum loan and overdraft rates by 050 to 075 percentage point on february 16 but the move has not substantially increased loan demand the sources said
a meeting of the national coffee policy council is set for thursday march 19 and dauster will almost certainly explain his plan to members then before announcing any new measures
nippon oil sees sharply lower sales and profits
space microwave laboratories inc said it registered with the securities and exchange commission a secondary offering of 2200 units of its securities at 1000 dlrs per unit
otherwise interest and principal payments will continue to be made as scheduled in the existing agreements
revenue properties co ltd year loss
first city bancorp fbt sells energy loans
malaysian rubber production should return to normal levels this month after a hard wintering season the malaysian rubber exchange and licensing board said in its latest review
argentina seeks new debt deadlines official says
company converted to stock ownership in december 1986
the complaint said vaskevitch leaked information about 12 companies involved in a merger or acquisition which resulted in more than four mln dlrs in profit for himself and others involved in the scheme
american express unit issues new zealand dlr bond
french 13 week t bill average rate falls to 769 pct from 782 pct
the tokyo metropolitan government said it would float a 100 mln dlr 10 year bond with a 75 pct coupon in new york its first yankee bond issue in 21 years
storm brings heavy snows to us plains
that is 73 basis points more than the yield of comparable treasury securities
it said the boats were intercepted in the khur abdullah waterway which separates kuwait and iraqs faw peninsula at the head of the gulf captured by iran last year
a sinking fund starting in 1998 to retire five pct of the debentures annually can be increased by 150 pct at the companys option giving them estimated average lives of 205 or 145 years salomon said
claremont tells sec it seeks 15 pct champion products stake two board seats
south korea plans 11 12 pct budget rise in 1988
icco to examine buffer stock details tomorrow
german bond yields seen falling in near term 
the employers invitation to restart the talks comes on the day a deadline set by minister of social affairs louw de graaf for a resolution of the dispute expires
the gilt market lost nearly half a point as enthusiasm about mays 64300 fall in the seasonally adjusted unemployment rate to 295 mln or 106 pct of the workforce was rapidly replaced by dismay at the continued high level of underlying average earnings in april dealers said
the unadjusted index fell 35 pct from a year earlier after a 23 pct year on year drop in january
dec 31 end shr loss 126 dlrs vs loss six cts net loss 114 mln vs loss 400000 revs 125 mln vs 4049000 notel company changed fiscal year to december 31 end
asked what role the reagan administration had played in the final stages of the talks gonzalez said it had lent practical support he did not elaborate but bankers said the us had pressed for an agreement after economics minister juan sourrouille threatened at last weeks spring meeting in washington of the international monetary fund to break off talks unless banks stopped blocking a deal
the tribunal upheld a countervailing duty of 849 us cents a bushel
allocations of indonesias main traded crude minas had been cut by 50 pct and duri by 38 pct he said
the six states have different currency systems
so far though the japanese are being cautious
saudi arabias king fahd said last month that he wanted oil prices to remain stable for the next two years
the issue is whether the 14 bank steering committee will endorse brazils request to the 700 creditor banks worldwide or simply relay it without comment
a bank official said m 3 rose 972 pct to a provisional 14980 billion pesos at the end of december from a month earlier for a year on year gain of 1272 pct
bond prices had been making a smart recovery from two days of heavy selling when citibank surprised the market by announcing a quarter point increase in its prime rate to 7 3 4 pct
he said an alternative now being looked at was for new procedures for delaying iadb loan approval to satisfy us concern that lending is currently too lax rather than a change in the basic voting structure
stanley interiors corp said its first quarter shipments and operating income were lower than expected due to snowstorms in january and february that forced the closing of some of its manufacturing facilities for up to six days
the company said it will lease the ships for three years and hold two additional three year options
kraft inc kra 3rd qtr sept 26 net
loans and advances from the dutch central bank to the commercial banks fell 101 billion guilders to 95 billion guilders in the week ending march 30 the banks weekly return showed
the company said it has the option under the agreement to fund the borrowings at the prime reate or at rates related to certificates of deposit or london interbank borrowing rates
mcm corp mcmc sets quarterly
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
cyacq raises offer for cyclops to 9250 dlrs share from 80 dlrs
wickes cos inc said its board authorized a one for five reverse stock split and plans to call the companys its 12 pct senior subordianted debentures due 1994
despite mounting us pressure on japan to open farm markets beef is strictly controlled by the government which maintains a price stabilisation zone to protect farmers
wall street has speculated british petroleum may boost its offer by several dlrs per share but the company maintained it would not raise the 70 dlr bid
deutsche later confirmed the details and added the issue would be sold in denominations of 1000 and 10000 marks
the italian treasury said it would offer an undetermined amount of 10 year variable coupon certificates ccts at a rate unchanged on that of the preceding offer in late february
purolators courier business has been lagging that of its us rivals because of the high price it paid in the past several years to add air delivery to its ground fleet
galactic galcf adopts conservative accounting
zimmer zim boosts credit line by 43 mln dlrs
japanese banks were excluded from lead management of mark eurobonds when the bundesbank opened that market to foreign banks in may 1985 due to the lack of reciprocity for german banks in the japanese market
corporate raider irwin jacobs last year proposed a takeover of the firm and until recently held 10 pct of the stock
maki said the us and japan will hold detailed discussions on each trade item as well as a new round of gatt trade talks at a meeting on april 20 in which us trade representative clayton yeutter will join
nearby months in soybean and soymeal futures could post a short term rally on tightening supply of livestock feed even if favorable growing conditions keep the new crop outlook bearish traders said
narrowly defined year on year m 1 growth was 2194 pct in january against 1589 pct in december and 1410 pct a year earlier
it added that it now owns 164 pct of the outstanding common stock of orion
shr profit 26 cts vs loss two cts net profit 6194000 vs loss 170000 revs 1000 mln vs 7854000 avg shrs 107 mln vs 8787977 year shr profit two cts vs loss 17 cts net profit 7169000 vs loss 1461000 revs 4214 mln vs 511 mln avg shrs 9604474 vs 8807709
according to the restructuring carter hawley plans to spin off its specialty stores including neiman marcus bergdorf goodman and contempo casuals into a new company named neiman marcus group whose shares will trade on the new york stock exchange it said
union carbide uk unit to buy back notes
qtly div 375 cts vs 375 cts prior pay april eight record march 16
the world bank sources said the bank cancelled 450 mln dlrs in loan commitments to the philippines during the last three years of president ferdinand marcoss rule
the company said it may sell the securities through underwriters who may include goldman sachs and co or directly to other purchasers
final terms will be set on or before march 9
bank of japan satisfied with yen around current range senior bank official says
speaking at a news conference reviglio said the two projects will eventually bring in some 300 mln dlrs annually in foreign exchange to venezuela and help diversify the countrys export base
departing deputy treasury secretary richard darman told the same television network he agreed that the us dollar had not fallen enough against the currencies of some countries
the ec commission will decide shortly precisely how to arrange the import of third country maize and sorghum into the ec in fulfilment of its agreement with the united states commission sources said
south atlantic financial corp soaf 4th qtr
there is evidently a common interest in the matter he said
tilden said gencorp will use the proceeds from the sale to reduce its 15 billion dlr debt
the commodity credit corporation ccc has accepted a bid for an export bonus to cover the sale of 2750 head of dairy cattle to the canary islands the us agriculture department said
avg shrs assume the shares sold to public and employees were outstanding during the entire period
enquiries rouen hamburg india 14000 mt bagged sugar 750 1000 15 25 4 a c woodhouse drake and carey
the united states hall said has nearly 500 billion tons of demonstrated coal reserves an amount more than triple that of all the worlds known oil reserves
that is 68 basis points more than the yield of comparable treasury securities
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
usda projected chinas 1986 87 wheat imports at 700 mln tonnes vs 700 mln tonnes last month and estimated 1985 86 imports at 660 mln tonnes vs 660 mln last month
1985 4th qtr and yr oper net exclude realized investment gains of 439000 dlrs and 666000 dlrs respectively
the bundesbank left credit policies unchanged after todays regular meeting of its council a spokesman said in answer to enquiries
the non callable bonds will be issued in denominations of one mln yen and will be listed in luxembourg
its in the group of sevens interest to calm things down said douglas madison corporate trader at bankamerica corp
shr 80 cts vs 70 cts shr diluted 76 cts vs 67 cts qtly div 33 cts vs 33 cts prior net 7879000 vs 7007000 nine mths shr 233 dlrs vs 201 dlrs shr diluted 222 dlrs vs 192 dlrs net 230 mln vs 200 mln avg shrs 9890148 vs 100 mln note dividend pay dec 10 record nov 20
vaskevitch is living in england and sofars whereabouts are unknown he said
fed sets two day system repurchases
in fixed rate bonds the tone was likewise quietly firmer with euroyen and eurosterling maintaining their recent bullish trend and activity in dollar straight and ecu denominated bonds also picking up slowly
the legislation discussed today must not be seen as an isolated measure but as a step in an international process norways foreign minister thorvald stoltenberg told parliament
kuwait had earlier considered having both ussr and us escorts but the us was unwilling to give the soviet union a naval role in the region the newspaper quoted the officials as saying
the may september rains normally provide the drought striken areas with 80 pct of annual rainfall
quantum corp qntmo 2nd qtr sept 27 net
mitchell energy mnd again cuts capital outlays
under the new system no bidder except the the state oil company zimoil and the national airline zambia airways is allowed to bid for more than five pct of the foreign exchange on offer
the primary buyers for the 1987 88 season were south korea spain japan and taiwan the department said
shr profit 12 cts vs loss 14 cts net profit 183000 vs loss 234000 revs 24 mln vs 15 mln six months shr profit 22 cts vs loss 22 cts net profit 345000 vs loss 358000 revs 52 mln vs 29 mln note1987 2nd qtr and six months include gains of 78000 dlrs and 154000 dlrs for tax loss carryforward
the suit which asks damages in excess of 90 mln dlrs seeks an injunction against further publishing or distribution of evaluations
shr 374p vs 30p
on the one hand we are determined to require adequate capital support for potential future exposure on the other hand we are concerned that overly stringent capital requirements might unnecessarily affect the ability of us and uk banking organisations to price contracts competitively at the basis of the new proposals lies the concept of the so called credit equivalent amount the current value of a currency or interest rate contract and an estimate of its potential change in value due to currency or interest rate fluctuations until the contract matures
the move was followed by a surprise sell out within minutes today of a bank of england one billion stg tap issue the second such issue in as many weeks analysts noted
i believe theyve made an effort to satisfy the iccs objections he said
coachmen industries coa 3rd qtr net
society for savings socs to offer notes
the views of the asean governments have been taken into account in determining disposal levels the statement said
kansas legislator predicts eep wheat to soviets
the petrobras statement said the shipment of 22 mln barrels will be made by the saudis on march 24 as scheduled
it said cash will be paid in lieu of fractional shares
dauphin deposit dapn to acquire colonial
the bank has also agreed with banco portugues do atlantico a state owned merchant bank in oporto to exchange information on customers and help accelerate japanese investment and technological transfers to portugal he said
the par priced issue is callable from 1990 at 104 pct declining by 1 2 pct per annum to par thereafter but is not callable until 1991 unless the share price exceeds the conversion price by 150 pct
qtly div 36 cts vs 36 cts prior pay april one record march 13
the national livestock and meat board will receive 644000 dlrs to continue work in educating health care officials
the shares would be offered at 205p compared with turners price which fell to 227p from last nights close at 241p
the following are proposed securities offerings filed recently with the securities and exchange commission outboard marine corp up to 200 mln dlrs of debt securities on terms to be set at the time of sale through an underwriting group that is expected to include salomon brothers inc and morgan stanley and co inc
us trade representative clayton yeutter today said that if the european communitys council of ministers approves a tax on vegetable oils and fats another major transatlantic trade row will erupt over agriculture
agriculture would expand significantly if favourable weather continued and farmers responded to producer price rises announced in february the minister added
mccarthy estimated that the fed is now targetting discount window borrowings of about 400 mln dlrs a day equivalent to a fed funds rate of around 6 3 8 pct
ocilla industries inc said its flintstone industries inc subsidiary obtained a three mln dollar revolving credit with bank south corp bkso it said bank south will lend flintstone amounts constituting up to a maximum of 80 pct of acceptable receivables and 25 pct of acceptable inventory as defined in the loan agreement
this years rate will thus be 11 pct
roto rooter inc roto 1st qtr net
in 1986 the ec was chinas third largest trading partner with chinese imports from the ec worth 57 billion dlrs and exports worth 26 billion dlrs
but lewis and others noted that building societies had been complaining to the government about intense competition from national savings which they argued reduced the scope for early mortgage rate cuts
shr 62 cts vs 58 cts qtly div 13 1 2 cts vs 13 1 2 cts prior net 388 mln vs 357 mln revs 118 billion vs one billion six mths shr 84 cts vs 86 cts net 52 mln vs 529 mln revs 214 billion vs 182 billion note results include charge of four cts shr for latest six mths vs credit of five cts shr for prior six mths from investment tax credit dividend payable june 12 record may 21
chrysler agrees to acquire electrospace systems for 367 mln dlrs
it also introduced a new weekly foreign exchange auction only for parastatal organisations and the private sector where the exchange rate is allowed to float in accordance with market demand
during the balance of 1987 exley said ncr will pay close attention to increasing its penetration of major accounts expanding its third party distribution channels and continuing its introduction of new products
cairns group said influential in trade talks
it will be listed in frankfurt beginning in may with no precise date yet specified
continental gic sees 1987 net up from tax law
karl thomas head of the bundesbanks credit department said the domestic investor had missed earnings opportunities over the last four years by failing to invest in german bonds
the ec firms said they had been forced to offer their products at a discount of up to 30 pct in order to compete with the japanese
ultramar plc umarl said that while its fourth 1986 quarter had improved from the operational point of view several special charges adversely affected results
zccm the second largest employer after the government has said it intends to lay off 20000 of its 60000 workforce as part of the plan
quarter net includes tax credits of 102000 dlrs vs 736000 dlrs
the companys convertible subordinated debentures were priced late tuesday by lead manager first boston
lead content of petrol is further cut to 015 gm litre from 04 gm from today
comalco ltd 1986 net profit 571 mln dlrs vs loss 691 mln
the sharp fall in the dollar to date will add to inflation as will a mild economic pickup in the second half of this year
obviously the two firms did not want to issue floaters and face the risk of new zealand rates falling sharply an underwriter away from the syndicates said
this is not a crash scenario but the dollars steeper angle of descent increases the risk of ending with a fireball rather than a three point landing the eiu said
the bank more than doubled its loan loss provision to 497 mln dlrs at the end of 1986
the soviet union was the largest single importer with 133265 tonnes followed by saudi arabia with 53800 tonnes
texaco refining and marketing an operating subsidiary of texaco inc said it would cease to post crude oil prices for west texas crudes at the end of this month following a decision to discontinue purchase of crude oil from leases a texaco spokesman in houston said
us senate passes housing bill
the company said termination of the agreement opened other possibilities including a possible leveraged buyout of the semiconductor maker by fairchild management
he said that since most growers did not irrigate their crop they could do nothing but wait for rain the main factor which determines kenyan coffee production
while lawmakers may object to the usda rule under consideration relating to perishable commodities congress is not likely to reopen debate on the controversial immigration question congressional sources said
charles schwab and co is the nations largest discount brokerage firm
he said on arrival that the economy of south east asias largest nation was being managed well but the slump in world oil prices called for major policy adjustments
the company said the actual price will be determined at the close based on net book value at may 31
the pfl holds the education ministry
a report in the washington post caused a stir in the foreign exchanges today because it gave the impression dealers said that the underlying trade deficit for february had been revised downward
the airline did not quantify its performance in early 1987 but said it would take delivery of one boeing co ban 747 freighter and one boeing 747 300 passenger plane in september and november respectively after it took a 747 300 last month
lynch chairman mario gabelli who heads a group which owns 1235 pct of becors 165 mln outstanding shares said the lynch bid is about one dlr better than the present offer gabelli previously said in a filing with the securities and exchange commission he felt the becor managment buyout was unfar
the federal reserve will enter the government securities market to supply reserves via either a large round of customer repurchase agreements or by overnight or possibly four day system repurchases economists said
the first boston corp morgan stanley and co inc and painewebber inc are underwriting the issues the company said
lockheed corp has been awarded 1657 mln dlrs in military contracts including a 1024 mln dlr contract for eight c 130 aircraft for the air force reserve the air force said
the securities are convertible into shares of cbs at a price of 200 dlrs per share which represents a premium of 262 pct over the companys closing stock price yesterday of 15850 dlrs on the new york stock exchange
in the fourth quarter gdp rose 07 pct over the previous quarter and was up 33 pct on the same 1985 quarter
investor group has talks with pesch on ami ami 
one banker said operating earnings in the kingdom are not good reflecting the caution in new lending the amount of advances is showing a declining trend while the days when banks had ample funds in interest free current accounts to invest are disappearing as saudi customers seek a better return on their money
but the lower value of commodities such as timber rubber palm oil and tea on world markets has prevented this despite a 31 pct devaluation of the rupiah against the dollar in september
dutch feed compounder starts case against ec levy
first interstate bancorp is offering 200 mln dlrs of subordinated capital notes due 1999 with an 8 5 8 pct coupon and par pricing said lead manager goldman sachs and co
stephan co ftc year net
joseph light saj sets split hikes payout
western officials say the lifting of sanctions and new mfn status will have little impact on poland which has a hard currency debt of 335 billion dlrs and lacks the means to modernise its industry
louis
treasurys baker sees reagan opposing oil tax
the commission last thursday granted weekly rebates for the sale of 15000 tonnes of free market maize to non ec countries
sonat snt unit files for debenture offering
it said this assumes full use of the remaining 1250000 dlrs available under a line of credit from celanese corp which requires approval of celanese corp cz the company said its ability to obtain funding was adversely affected by a suit filed march 4 by two of its shareholders seeking to represent a class of holders against three officers of endotronics
in the meeting we agreed to work on behalf of the union of the producers in matters related to an international agreement dauster said
he told reporters after meeting with president suharto that present weakness in the spot oil market was the result of warmer weather in the us and europe which reduced demand for oil
honeywell inc earlier today received 527 mln dlrs in cash for the sale of 575 pct of its computer business to bull and nec
parent foreign turnover 1162 billion vs 1232 billion
wholesale prices fell 06 pct in january from december
shultz is set to arrive in moscow april 13
fuel oil prices were up 44 pct in february after increasing 98 pct in january but were still 15 pct below price levels of february 1986
midway airlines inc which has frequently been mentioned as an acquisition target said it declared a shareholder rights plan
just under 40 pct of inl is owned by news ltd an australian subsidiary of news corp ltd ncpas production and administration of the two publications would be transferred to the companys existing centre in houston
family dollar stores inc fdo 4th qtr aug 31
shr 24 cts vs 18 cts shr diluted 21 cts vs 18 cts net 2108805 vs 1605278 sales 289 mln vs 242 mln note share results reflect two for one stock split to be paid july eight
south african maize estimate called conservative
the report said an import fee would raise prices and help make it economical for us oil firms to find and produce new oil as well as to cut imports but on the whole the tax would depress the nations economy
bank of japan governor satoshi sumita said the central bank will carefully consider its monetary policy in light of the recent sharp fall of the dollar
the proposal has been talked of in brussels for the past 20 years and dropped every time
so far 30 pct of the groups capital currently at 1033 mln shares of 100 francs nominal has been offered for sale to large private investors to constitute a solid core of eight to ten shareholders before the flotation
the bonds will be issued in denominations of 1000 stg and will be listed in london
preference shares of state controlled creditanstalt rose eight schillings on the vienna bourse today to 2008
ec commission set to detail grain import plan
details of nigerias official debts to france were not immediately available
rudy boschwitz r minn said he intended to offer legislation that would allow 1987 producers of wheat feedgrains cotton and rice to receive at least 92 pct of their deficiency payments regardless of how much they planted
he said the entire 178500 bpd refinery has been shut since the accident which killed one person and damaged the sites hydrocracker
royal bank of canada in reporting a 19 pct drop in first quarter earnings said it expects to report improved results in future earnings periods
viacom via merger expected in 60 to 90 days
officials said another option now being considered by the uk is to refuse issuing new banking licences to japanese institutions
the dti will pass the ball to her as soon as she returns tonight a dti official said
karnosky said that the bond market will possibly break out of the doldrums if participants perceive that the dollar has stabilized and the federal reserve has more room to conduct monetary policy
corn season begins sept 1
k mart corp said it agreed to sell most of the us kresge and jupiter stores to mccrory corp a subsidiary of privately held rapid american corp
moodys says lower ratings show 1987 downtrend
jan 31 end shr 31 cts vs 44 cts net 5705000 vs 8101000 revs 506 mln vs 672 mln 1st half shr 63 cts vs 71 cts net 116 mln vs 132 mln revs 809 mln vs 1052 mln note current half net includes 750000 dlr charge from reorganization
the domestic index marked its largest year on year drop of 71 pct in january since the central bank started compiling such statistics in 1960 under its current system
santa fe is in the midst of a 50 mln share stock buyback program begun in 1984
most commodity lobbyists expect lyng to prevail
the production forecast for 1986 87 sunflowerseed has been lowered to between 22 and 24 mln tonnes against 23 to 26 mln tonnes the previous week making it 415 to 463 pct lower than the record 41 mln tonnes produced last season
crane cr acquires assets of marley unit
1985 year includes only six months of operations due to change in fiscal year
tense trade relations with the us and japan and concern about the foreign impact of a proposed european community ec tax on edible oils and fats are expected to dominate talks by ec foreign ministers here tomorrow
australian liquid fuel demand is forecast to rise to 680000 bpd in 1992 93 from 565000 in 1985 86 implying a crude oil gap of between 270000 and 360000 bpd in five years time he said
nz february current account deficit 78 mln v 93 mln jan govt
manfred laux general secretary of the west german mutual funds association in frankfurt said harmonized rules are to be adopted by october 1 1989 at the latest
the price hike follows other increases industrywide
philippine coconut authority pca chairman jose romero said he would visit brussels later this month to lobby against a proposed 100 pct european community ec levy on vegetable oil imports
under the proposal carter hawley would split into a specialty store company and a department store company
brown and sons inc absb and the underwriting group has been granted an option to buy up to 675000 more shares to cover overallotments
the department said the bonus was 23391 dlrs per tonne and was made to international multifoods corp
it said the noteholders exercise price for 1125000 warrants was also reduced to 50 cts from 150 dlrs
henry schroeder bank and trust co and the six new syndicate members ef hutton international inc shearson lehman brothers asia inc dresdner bank ag swiss bank corp international asia inc sogen security corp and swiss union philips and drew ltd will each have a 007 pct share in the securities industry
shr loss 49 cts vs loss 136 dlrs net loss 928835 vs loss 1648665 year shr loss 33 cts vs loss 421 dlrs net loss 593533 vs loss 4970951 assets 2039 mln loans 1515 mln deposits 1920 mln note 1986 loss included non recurring expenses of 1275000 dlrs comprised of asset write downs legal proceeding and a 930000 dlr provision for loan losses
first national bank corp to buy branch
both parties also agreed to adjourn pending litigation they have against one another it added
carlton buys stake in central independent tv
holiday inns is also offering 500 mln dlrs of subordinated debentures due 1999 with an 11 pct coupon and par pricing
parkway co pkwy sets quarterly
bankers said todays talks concluded months of intense negotiations
dna medical dnam signs pact for stock sale
indonesia hurt by the fall in oil prices last year which cut the value of its crude exports in half is the third worlds sixth largest debtor
after several meetings brazil and the us have made no major progress in their computer row which they have been trying to resolve for the past 18 months
converting current refinery operations to produce the 89 octane unleaded gsoline could cost hundreds of millions of dollars per refinery but that depends on the present capacity and intensity of the refinery said amocos collier
keycorp key agrees to acquire utah bank
shr profit three cts vs loss 44 cts net profit 247000 vs loss 2410000 revs 3845000 vs 3264000 avg shrs 8743000 vs 5507000 year shr profit one ct vs loss 53 cts net profit 41300 vs loss 2840000 revs 130 vs 9767000 avg shrs 7497000 vs 5384000 note 1985 4th qtr and year net includes two mln dlr loss for litigation settlement and 589000 dlrs for write off of goodwill
on friday cyacq corp an investor group formed by audio video affiliates inc ava and citicorp cci said it would increase the price it was offering for all cyclops shares to 9250 dlrs from 8000 dlrs each if cyclops would provide it with confidential information given to dixons and if it were satisfied that any rights dixon might have to recover fees or expenses from dixons or to buy cyclops stock would be rescinded or proved invalid
and us treasury secretary james bakers remarks at the weekend indicating the need to revise it do not herald a lower range for the dollar other senior officials from the bank of japan and finance ministry agreed in interviews
the planes dealt accurate and effective blows to both maritime targets before they returned safely to base a military spokesman told the iraqi new agency ina
gasoline demand averaged 660 mln bpd up 24 pct from 644 mln last year while residual fuel demand was 147 mln bpd up 19 pct from 144 mln the eia said
their industries havent been doing it and i think well have a good settlement to spare both sides i think the japanese understand full well that they havent lived up to this commitment he said
agf management ltd six mths may 31 net
on friday cyacq corp an investor group led by audio video affiliates and citicorp raised their offer for cyclops to 9250 dlrs per share from 80 dlrs per share if certain conditions were satisfied
shr 29 cts vs 16 cts net 610000 vs 329000 sales 6714000 vs 4582000
japans bilateral trade surplus jumped from 12 billion dlrs in 1980 to 62 billion dlrs last year
marathon raises crude oil postings 50 cts bbl wti now 1900 dlrs
un issues report on natural gas clauses
he said the tender would be the first step in acquiring all of caesars shares and if successful would be followed by a merger transaction
kingdom of sweden issues 100 mln stg bond
the higher levies affect official transactions such as road tolls vehicle transfers and various licence fees he added
qtly div nine cts vs 75 cts in prior qtr payable april 15 record march 31
the company said its reserves during the year fell to five mln barrels from 64 mln barrels of oil and to 601 bilion cubic feet of gas from 637 bcf
nazer in an interview with and the television news agency visnews said saudi arabia was producing around three mln barrels per day bpd of crude oil well below its opec quota
boeing ba starts argosystems argio bid
the bank would then be free to sell the stock during the fallow period but not at a price below the minimum tender price
under proposed rules a shipping certificate has a limited life as it expires 30 days following the last day of trading of the expiring contract month
the department said last summer for example certificates were exchanged for 215 mln bushels of corn
he estimated the job itself would require 35 working days
payn save payn 1st qtr jan 31 net
the bulk of the governments fiscal surplus is invested by the treasury with the exchange fund against the issue by the fund of interest bearing debt certificates financial secretary piers jacobs said
the number of jobless rose to 650700 from 631900 in february and 593200 a year earlier the bureau said
borg has half the market in the us and is the leading technical player and the leading innovator rose said
as in the first three signups the great plains area is expected to attract the greatest enrollment
shr profit two cts vs profit two cts net profit 216000 vs 265000 revs 17 mln vs 14 mln year shr profit four cts vs loss two cts net profit 528000 vs loss 290000 revs 59 mln vs 55 mln note1986 net includes realized investment gains of 3000 dlrs in year
the shipbuilding companies streamlining program will raise productivity to compete with south korean yards which have also been hard hit by declining orders and low ship prices in recnt years the sources said
analysts said such a move would sharply reduce citicorps profits and might result in similar measures by brazils other bank creditors
some economic discomfort must be transferred from the united states to our friends trading partners and allies
portuguese february consumer prices rise one pct
shr loss 177 dlrs vs profit 15 cts net loss 8036000 vs profit 576000 sales 162 mln vs 172 mln avg shrs 4539437 vs 3816580 1st half shr loss 196 dlrs vs profit 26 cts net loss 8231000 vs profit 996000 sales 309 mln vs 322 mln avg shrs 4205707 vs 3814141 note current half net includes 68000 dlr tax credit
company controlled by bond corp holdings ltd of australia
terms were not disclosed
davy corp unit wins india smelter contract
uk chancellor of the exchequer nigel lawson said the meeting of six major industrial nations in paris last month agreed not to publish any bands in connection with their pact to stabilise currencies
they said the fed probably will add the reserves indirectly by arranging around two billion dlrs of customer repurchase agreements
they named kuwait and the united arab emirates along with the much smaller producer ecuador among those producing above quota
overseas exploration fell to 28 mln from 58 mln in 1985
clark declined to forecast the outcome of the discussions
mexico has already sold 80 pct of its export coffee produced in the year to last september the source said
this week he is also due to visit denmark and belgium
italian wholesale prices up 02 pct in february
shr profit five cts vs profit two cts net profit 325000 vs profit 105000 revs 195 mln vs 161 mln six mths shr profit nine cts vs loss 35 cts net profit 627000 vs loss 2280000 revs 369 mln vs 274 mln
our customers are all seen as being in trouble due to a lack of foreign currency iida said
investor sumner redstone who leads one of the two groups vying for control of viacom international inc offered to sweeten his bid for the company by 150 dlrs a share cash and 150 dlrs in securities
but according to a second source who also declined to be identified poehls comments were seen by bankers present as a direct pointer to further moves by the central bank to defend german industry from an additional revaluation of the mark
brazils sarney meets strikes with show of force
entertainment marketing also disclosed that it retained drexel burnham lambert inc as its financial advisor and investment banker
its very dangerous to go down the retaliatory route he said because it leads to more retaliation and restrictions in trade crandall said the administration is doing this for its political impact across the country and therefore its impact on congress he said i dont think it makes a lot of sense but other analysts said it made little difference whether the tariffs were aimed at us trading partners or congress and that the main point was that the trading partners were on notice that retaliation was a weapon reagan was ready to use
delegates agreed to shelve discussion of iadb reforms until the half yearly international monetary fund and world bank meetings in two weeks time in washington at which a decision will be urgently sought in order to maintain credit flows to the recession hit region
there were very serious discussions last fall but we didnt pull it off the source said in a reference to the assassination in november of former renault chairman georges besse
for the first stage beghin say will issue some 205 mln new 65 franc shares at 500 francs to increase capital to 660 mln francs
malaysias national oil company petronas has advised the government to raise crude oil output to 540000 barrels a day bpd in 1988 from a current 500000 bpd a senior company official said
nowak said the company has done an outstanding job reducing expenses and arco is poised to generate greater earnings power he said first quarter earnings will likely exceed the companys expectations stated yesterday and be in the 115 120 dlr a share range
bundesbank figures showed that banks fell back on the lombard emergency funding facility to draw down 15 billion marks yesterday as rates began to tighten in late business
perhaps they were jealous that for the first time a chinese entity has taken the sole lead position for a chinese issue he said
newfoundland capital to issue debentures
it said it expects to acquisition to result in a substantial sales increase
he said rains some six weeks ago helped the crop but more recent rains reduced prospects slightly
bond corp still considering atlas mining bail out
economists said some of the 18 members of the central bank council were worried about the continued overshoot in the money supply target and were bound to resist any moves to cut rates
analysts estimated the 100 dlr per share offer from general partners is 10 to 20 dlrs per share below the breakup value of gencorp
economic spotlight ems marks eighth birthday
aztec manufacturing co aztc 4th qtr loss
the awb called for an end to physical and legislative constraints at state borders that prevent the efficient transport of grains to other states for shipment
allied lyons sees hiram walker profits rising
no near term brazil coffee moves expected
interconnect capital is controlled by interconnect inc gates corp owns 648 pct of gates learjet
rates were unchanged on those indicated at the time the offer was announced on april 4
this gives them plenty of borrowing power he said which could be used against an unwanted suitor
the expected shortage and stronger demand for rubber goods especially condoms and surgical gloves by consumers is likely to push up prices the malaysian rubber exchange and licensing board said in its latest monthly bulletin
southington savings bank ssbb 1st qtr net
metropolitan consolidated industries inc a new york paint company said it has acquired 278709 shares of metex corp or 212 pct of the total and left open the possibility that it might acquire more through a merger
genetech inc geneo is issuing a 100 mln dlr convertible bond due march 30 2002 with an indicated coupon of five to 5 1 2 pct and an issue price of par credit suisse first boston csfb said as lead manager
he said the market interpreted this as indicating the us would favour a weaker dollar and it had little intention of intervening to support the currency
europe on sidelines in us japan microchip row
webb properties corp unit sold one half of its interest in the 224 acre towne meadows mixed use development near mesa and gilbert ariz to klukwan inc an alaskan native cooperative
the issue has a one time call after three years first boston detailed
note consolidated balance sheet as of end of 1st qtr reflects after tax impact of 50 mln dlr settlement won by sealy licensee in michigan
nabors said the transamerican reorganisation would repay its 770 mln dlr debt with profits from natural gas sales
the three privately owned centers had aggregate revenues of 474000 dlrs in 1986 with profits of six thousand dlrs the company said
the official said industrial production is expected to rise 32 pct in march on higher production by machinery steel and chemical makers but will drop 34 pct in april on a downturn in the output of those industries
however a number of farm groups have told lugar they oppose the proposal on the grounds it would reopen the 1985 farm bill and the senator has decided to take a second look at the proposal the aide said
other policies recommended include more realistic exhange rates and more producive capital investment programs
entertainment marketing whose chief executive officer elias zinn once ran an electronics retailing business said in a statement it had committed 50 mln dlrs toward the purchase of crazy eddie and had retained dean witter reynolds inc to assist in financing the balance
allied signal announced in december that it planned to sell the linotype unit as well as six other businesses in its electronics and instrumentation segment
charter crellin inc said it signed a letter of intent to acquire all outstanding shares of sebro plastics incs capital stock
gasoline demand averaged 675 mln bpd up 33 pct from 653 mln last year while residual fuel demand was 140 mln bpd off 27 pct from 143 mln the eia said
pioneer sugar says csr takeover offer too low
one of those mentioned by lazier was usx corp an energy steel concern which had been courted by investor carl icahn and drew the attention of australian robert holmes a court last year
european buyers delayed their purchases because of winter closures of factories and also in the hope that prices would ease further
privately held pilot air freight said it met with officials of northern air freight inc to try to negotiate a friendly acquisition of northern but northerns management had no interest in the proposal
no change in the british governments attitude is expected before the countrys next general elections due by mid 1988
the administration proposal is so drastic that i dont think it will get up a head of steam huckaby said
about 6000 miners resumed work at the grootvlei gold mine east of johannesburg after protesting the transfer of colleagues to other jobs at the same mine owners general mining union corp ltd genmj said
a group of investment firms which had once sought control of comdata network inc told the securities and exchange commission it sold its remaining 1113500 share or 59 pct stake in the company
the partnership called the response inflammatory and unproductive particularly since it had attempted to discuss the offer with gencorp
the gilts market approved of the more modest tax cut shepherd said because if it was more than two pct they would have become concerned about the economy heating up again also a cut of two pence in the pound suggests that if the ruling conservative party is re elected another two pence cut can be offered at budget time next year
now is really the time for the government to start implementing its ideas
the fire was put out with salt water and water from the no4 hold has spread over most of the cargo
ecuador was forced to suspend exports after the pipeline connecting its jungle oil fields with the pacific ocean port of balao was damaged last week by an earthquake
colombia helpful but coffee quotas uncertain us 
we are solidly opposed to opening up the 1985 farm bill said dean kleckner president
a merchant banker also said reduced manufacturing costs due to lower lending rates are likely to boost the share market
people dont seem to have any firm conviction about the current strength of the economy or about the federal reserve doing anything said drexel burnham lambert analyst norman mains
they worry that this could further reduce the industrys shrinking deposit base
the system will be effective until the end of 1988
harvesting of both those crops and sorghum was paralysed by the bad weather
at current vodka prices of 10 roubles a bottle it said this meant illicit alcohol consumption had reached the equivalent of 20 billion roubles a year or annual revenues from vodka sales before the may 1985 anti alchohol decree
the spokesman said it was not clear whether the domestic group would show a net profit in 1986 adding this would depend partly on the level of provisions
the new exchange rate will promote purchases of domestic goods and services by the industry azpur said
earlier the company reported first quarter net income of 1086 mln dlrs or one dlr per share up from 868 mln dlrs or 85 cts per share in 1986s first quarter
comdata network agrees to higher offer from welsh carson anderson
shr loss 29 cts vs profit 10 cts net loss 2733000 vs profit 911000 revs 215 mln vs 185 mln 1st half shr loss 23 cts vs profit 26 cts net loss 2154000 vs profit 2445000 revs 378 mln vs 377 mln note current year net both periods includes 6705000 dlr pretax provision for closing overseas operations and tax credits 2511000 dlrs in quarter and 1977000 dlrs in half
the closure idled 3500 factory workers and left 30000 small cane planters with no outlet for their cane
the total of unemployed in january was 216200 against 212200 in december and 216600 in january 1986
consumers say that in these circumstances the adjustment be automatic at five pct or more
our goal is to find 20 mln barrels a year in the us to replace our production and i think that we can do this at the level we intend to spend blackburn said
banking sources said zambia was persuaded by the world bank and imf to lift its proposed ceiling of 1250 kwacha per dollar on the currencys devaluation once the auctions restart
president reagan said yesterday the threat to oil routes in the gulf from attacks by iran and iraq was high on the agenda for next weeks g 7 summit in venice
emerson radio corp said it has sold 10 mln dlrs of eight pct senior notes due march 1992 to a major institutional investor it did not name
japanese banks have asked the finance ministry to increase tax breaks on loan loss reserves but the ministry has not yet complied
avon says it to buy giorgio inc a fragrance company for 185 mln dlrs
one top official said the rate cuts would help to stimulate growth generally in europe and welcomed that countries other than west germany were seen to be helping sustain the economy
cominco clt sets tentative talks on strike
the national bank austrias central bank last month forecast the current account would be roughly in balance this year
sherwoood said the companys losses were largely attributable to non recurring events and provisions
an investor group led by technology growth fund ltd an aspen colo investment firm said it has acquired 129000 shares of distributed logic corp or 52 pct of the total and may try to influence the company
we are deliberately defending the price so opec production is less than 158 mln at the moment he stated
venezuela is currently seeking loans in japan and west germany to finance steel and aluminium expansion
he also called again for congressional approval to explore off the continental shelf which may hold more than 12 billion barrels of oil and the arctic national wildlife refuge which may hold nine billion barrels
in the 1986 annual repoprt he said lengthy negotiations had brought agreement with the tokyo and london stock exchanges for fuller but still not complete access to market data through services
resorts intl rta debt ratings affirmed by s p
foreign share in japan bond syndicate boosted
but a growing volume of trading in government securities is now also a major source of revenue for banks
home federal hfbfo sets shareholder meeting
although british parliamentarians are pushing for a tough line on japanese trade issues government officials in the rest of europe told correspondents they would let the ec take the lead in any response to the us japan trade row
at february 28 first federal had 129 mln dlrs in assets and 120 mln dlrs in deposits
but they expect it to continue to ban domestic participation in the market for some time to come
kritchevsky a specialist in nutrition said more saturated fat would raise cholesterol levels so from that point of view its a health risk
the icco failed to agree buffer stock rules in january when the new international cocoa agreement came into force
americus trust hpu extends deadline
mobex corp a private building product concern said as of late yesterday it had accepted about 23 mln shares or 98 pct of grant industries inc under a tender offer
the company said it will seek shareholder approval of the reverse stock split at the annual shareholders meeting scheduled for june 18
he said the investment needed to fuel this growth can come partly from structural economic reforms at home but this alone will not be enough
uk money market shortage forecast revised up
federal co fff 3rd qtr feb 28 net
it said personal computer now has 26 franchised locations and plans to add over 30 in 1987 seeking eventually to expand into 420 markets in the us and abroad
most of the cattle now being placed on us feedlots weigh less than normal and likely will remain on feed longer spreading out marketings and supporting cattle prices through the summer because of reduced beef supply
us personal income rose 02 pct in may
elmira savings bank fsb esbko 3rd qtr net
despite these figures which reflected the dollars weakness against the mark and oil and raw materials price falls it said 1986 was a satisfactory year
richard fischer of merrill lynch and co inc said that santa fe at december 31 had 580 mln dlrs in cash and cash equivalents while its long term debt to capital was just over 25 pct
next year block could have a bonanza buchbinder said
lead managers underwriting 20 to 25 mln dlrs will receive a five basis point management fee
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
lord abbett and co mutual fund dividends
the companies are nippon steel corp nstct sumitomo metal industries ltd smitt nippon kokan kk nkktt and kawasaki steel corp kawst which together account for some 95 pct of japans total seamless pipe exports
the bonds are guaranteed by unilever plc whose outstanding debt securities are rated aaa
from july this year 30 leading stocks will be traded in a pilot of the asxs screen trading system which depending on its reception by brokers is expected to replace trading floors over the next four years industry sources said
the sparks study said that while certificates permit market prices to fall below loan levels these lower prices increase commodity usage and reduce the net costs of certificates versus cash
the talks held annually at sub cabinet level to review the whole gamut of us japan economic relations will pave the way for american secretary of state george schultzs one day stop over here at end week on his way home from china
the bank said the 738 mln dlr extension services project will examine strategies in 20 of mexicos 192 rural development districts and finance training for personnel and farmers office construction and the purchasing of equipment
m corp inc raises dividend
the spokesman said that since the uk government last month blocked ferruzzis bid to acquire british sugar plc the company had been looking at other investment opportunities
it was above market expectations which had been for a rise of between one billion and three billion dlrs
offshore data services said a total of 419 rigs were in use worldwide and 307 were idled last week
chungjin manila 4200 mt steel coils 800 liner discharge 23 30 4
the eight year eight pct domestic loan which was priced at par was originally expected by the ministry to raise 150 billion francs
ortiz mena said it is in the interest of the creditors not only the debtors to push forward the development process in latin america and that has happened he added the only problem is the resources have not been enough turning to brazil whose growth rate he predicted will decline slightly this year from 1986 ortiz mena said the countrys moratorium was the right action in order to avert a long term default
in a speech to 13 major business groups aquino said our policy has been very clear fm the start growth must take priority for the plain and simple reason that if we have no money to pay we cant
haq said now the private sector would export cotton and rice along with the state corporations
the company said the purchase price is subject to adjustment and the entire transaction is subject to approval by the us bankruptcy court for the central district of california
bps offering document for its 70 dlr per share offer describes discussions with douglas danforth who chairs a special committee of independent directors responsible for monitoring relations with bp
fed funds opened comfortably at 5 15 16 pct and remained at that level
in february m3 rose by 06 pct compared with 08 in january and a february 1986 rise of 01 pct
the 1986 losses were after taking into account net interest payments of 426 mln kwacha an exchange loss of 412 mln kwacha and taxes of 235 mln kwacha
regarding inter meeting policy adjustments the fomc minutes showed the members generally felt that policy implementation should be especially alert to the potential need for some firming of reserve conditions in this view the fomc said somewhat greater reserve restraint would be warranted if monetary growth did not slow in line with current expectations and there were concurrent indications of intensifying inflationary pressures against the background of stronger economic data
federal funds which averaged 618 pct yesterday opened at 6 3 16 pct and stayed there in early trading
hokkaido takushoku bank ltd is launching 100 mln swiss francs of convertible notes due september 30 1992 indicated at 1 1 4 pct and par lead manager swiss bank corp said
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
the bond may be retired between 1991 and 1996 if the secondary price does not exceed par
all wheat 1986 87 1987 88 4 2 87 prev wk 4 3 87 prev wk named a 31576 36841 15914 16356 unnamed b 1438 1443 871 571 eoa c 95 95 nil nil oop d nil nil nil nil gr total 33109 38379 16790 16927 ay expd e 210446 204334 ind ttl f 243555 242713 usdaprj g 279000 279000 soybeans 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk named a 17747 17803 2159 2159 unnamed b 5003 5248 nil 300 eoa c 184 184 nil nil oop d nil nil nil nil gr total 22934 23235 2159 2459 ay expd e 143342 141832 ind ttl f 166276 165067 usdaprj g 190500 190500 corn 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk named a 85598 86848 7721 2688 unnamed b 9457 9201 nil nil eoa c 908 669 nil nil oop d 1380 1750 nil nil gr total 97343 98469 7721 2688 ay expd e 202960 192938 ind ttl f 300303 291407 usdaprj g 317500 317500 sorghum 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk named a 8756 8051 nil nil unnamed b 1512 1512 102 x nil eoa c nil nil nil nil oop d 1145 1383 nil nil gr total 11413 10946 102 x nil ay expd e 32225 31497 ind ttl f 43638 42443 usdaprj g 57200 57200 x minus total wheat products 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk named a 3210 4019 nil nil unnamed b nil nil nil nil eoa c nil nil nil nil oop d nil nil nil nil gr total 3210 4019 nil nil ay expd e 9269 8409 ind ttl f 13482 12428 note includes bulgur semolina farina rolled cracked and crushed wheat
amr also has the right to decline delivery of the planes or return them on short notice
the northern new south wales regional group is emerging as a national media force in the wake of the industry restructuring sparked by the news corp ltd ncpas takeover of the herald and weekly times ltd hwtas group
rr donnelly dny to sell cable system
cyacq was unsuccessfully bid against dixons group plc for control of cyclops
japans main offers were to improve inspection systems on citrus fruits to aid ec exports to improve tariffs for some other farm produce to increase tariffs for leather footwear and to offer better trade terms for spain and portugal
yulo said about 130000 tonnes would be set aside for the us sugar quota 150000 tonnes for strategic reserves and 50000 tonnes would be sold on the world market
the figures compared with 34 pct contraction and 12 pct growth respectively for the first and second quarters of 1986
chemfix technologies inc cfix 2nd qtr net
the transportation department on friday rejected twas application to acquire usair on the grounds that the application failed to comply with department regulations by omitting necessary information
about 800 members of the united food and commercial workers union ufcwu struck john morrells sioux city iowa pork processing plant at midnight sunday a spokesman for the ufcwu national said
shr 23 cts vs 17 cts net 761000 vs 490000 revs 73 mln vs 45 mln
if the dollar resumes its slide the ems could be in for more turbulence they predict
morgan led a syndicate that won the bonds at competitive bidding
the us agriculture department detailed rice supply demand milled basis data for thailand the worlds major rice exporter as follows in mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 132 133 146 146 production 1188 1214 1300 1300 imports nil nil nil nil domes use 873 873 880 880 exports 370 370 434 434 end stocks 077 104 132 133
saudi arabia has dropped its condition that brazil secure international bank guarantees before saudia arabia would ship it oil the state oil company petrobras said in a statement
denominations are 1000 stg and listing will be london
in the 1986 first quarter brunswick reported earnings of 238 mln dlrs or 57 cts a share on sales of 3967 mln dlrs
bundesbank buys dollars for yen frankfurt dealers
the work is to be completed in the summer of 1989
third quarter ended august 31 group shr 3492 yen vs 3474 group shr per ads 6984 vs 6948 net 420 billion vs 418 billion pretax 1030 billion vs 973 billion sales 9596 billion vs 9259 billion companys full name is tdk corp tdkt
swedens ruling social democratic party gave full power to the government to decree unilateral trade sanctions against south africa prime minister ingvar calrsson said
gabelli said the unsuccessful attempt was designed to stiffen the backbone of the board to discourage greenmail hubbard and reed reiterated previous statements that they are open to negotiations with gencorp
the jury is still out this week rozich said
he also said calls by two of its container ships to busan south korea and kaohsiung taiwan had been cancelled
uk money market gets 186 mln stg afternoon help
new milford savings bank 1st qtr net
hungary has announced sharp price increases for a range of food and consumer products as part of its efforts to curb a soaring budget deficit
canada metal production figures were not immediately available
no figure was revealed for expenditure on defence and security
they dont need us they can do their own financing one official said
the notes issued in denominations of 50000 dlrs were part of a 10 year one billion us dlr multicurrency facility established last december it said in a statement
the acquisition which is subject to canadian government approval would be through amalgamation into a specially created company
presidential spokesman marlin fitzwater said us trade sanctions against japan were likely take effect on april 17 in spite of a full court press by japanese officials to avoid them
the issue is guaranteed by general motors acceptance corp
louisiana pacific lpx to buy wallboard plant
the bank of england said it forecast a liquidity shortage of around 300 mln stg in the market today
the potential write off would sharply reduce niagara mohawks common equity and may impair financial flexibility the agency said
development corp of america dca merged
waltham savings bank wlbk initial dividend
american stores asc sees lower year net
the finance bill will have provisions for the implementation of measures announced in november it said
the first mortgage bonds were lowered to d p 7 low single a from d p 4 low double a and the preferred stock to d p 8 high triple b from d p 5 high single a it said
freedom federal operates 15 retail branch banks and had 1986 year end assets of about 733 mln dlrs
us sprint was formed july 1 1986 as a partnership which combined united telecommunications long distance voice and data operations with those of gte corp gte earlier united telecommunications reported first quarter earnings of 126 mln dlrs or 13 cts a share compared to 464 mln dlrs or 47 cts a share a year ago
it said initial estimates indicate that company stocks fell by 12 mln bpd in oecd countries in the first quarter of the year
trade views differed on the amount of sugar likely to be released today
it said the increase came mainly from interbank activity with interbank lending rising to 14661 billion dlrs in december from 13476 billion in november and 10493 billion in december 1985
allegheney said the additional count sought by the plaintiffs alleges the price to be offered for ais common stock 2460 dlrs is grossly unfair and one the purposes of the proposed sale is to absolve the individual defendants of liability in the lawsuit
canada malting co ltd year net
texaco incs oil and gas reserves declined in 1986 despite reduced production and upward revisions in the companys previous reserve estimates its annual report said
this completes the major documentation required to gain official approval to proceed placer said in a statement
the january talks were slowed by a split inside the european community a key icco consumer group with france siding with producers
delegates estimate that this will take 12 to 14 months from now
health mor inc hmi sets dividend
finance minister dilson funaro has said an imf program for brazil adopted four years ago caused a recession and he believes another imf program would stifle growth
sphinx mining spnxfo finds gold
under the present contract petromin can automatically cut supplies up to 10 pct of the contractual volume
its an illusion based on a misunderstanding of western economy theres a limit to how much you can go on giving someone who has no hope of repaying it another said adding that poland had benefited from a global phenomenon of easy credits in the 1970s which were no longer todays reality
new zealands inflation rate was 169 pct in the year to end september against 189 pct in the year to end june
a sinking fund that starts in 1998 to retire five pct of the debentures annually can be increased by 200 pct at the companys option
some 10 indian ships have been held up at calcutta port after four days of industrial action by local seamen a spokesman for the shipowners association insa said
parent bank net profit 20 mln marks vs 20 mln
the payment date is march 25 while the issue will be listed in luxembourg
g 6 wants to hold dlr above 150 yen nakasone
termiflex corp tflxo 1st qtr sept 30 net
the authorities traditionally prefer a single sustainable rate move one way or the other to half points here and there
utilization of offshore mobile rigs in the gulf of mexico climbed by 21 pct last week to 389 pct reflecting a total of 91 working rigs offshore data services said
it will also fit out the plants laboratory
paris also supports a move for an oils and fats tax which west germany is against along with britain denmark and the netherlands
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
he said some non opec oil producing countries had shown a political willingness after 1986 to cooperate with opec
union carbide sold its battery products home and automobile products and agricultural products businesses in 1986
sept 30 end shr loss 38 cts vs loss three cts net loss 3300000 vs loss 205000 revs 634 mln vs 721 mln avg shrs 8966000 vs 9741000 note 1986 first quarter results include 398000 gain from repurchase of debentures that had been discounted below market value
phillips raises crude postings 50 cts effective today wti to 1750 dlrs bbl
a miti official told he did not rule out the possibility of further mergers within the japanese oil industry in the event of the relaxation of oil controls
john melcher d mont that would have required the us agriculture department to donate at least one mln tonnes of surplus commodities to developing countries
we are always open to negotations whether it a settlement could occur in time to prevent this the sanctions from going into effect is questionable at this point the spokesman said
japan was ready to use diplomacy to help maintain the security of the gulf prime minister yasuhiro nakasone said
i think its wrong to assume dingman has formed a firm strategy with santa fe said mark hassenberg who covers henley for dlj securities
the sources said there had been no bids for licences for free market soft wheat and non spanish barley exports to non ec countries
the recipient of the loan will be sas grand hotel beijing joint venture co ltd which is owned 50 pct by the china international exhibition centre and 50 pct by the two swedish firms
quebecs caisse des jardins issues yen eurobond
non communist daily average unwrought aluminium production in february was 33900 tonnes up 400 tonnes from a downwardly revised 33500 tonnes in january and compared with 32900 tonnes in february 1986 provisional figures from the international primary aluminium institute ipai show
pmi fund inc sets monthly dividends
communications systems inc csii 4th qtr net
wardley was underwriter for last years billion dlr flotation of cathay pacific airways ltd of which hongkong bank owned 30 pct at the time
the cash value of the offer was raised to 4200 dlrs from the 4050 dlrs a viacom share offered february 23 while the value of the fraction of a share of exchangeable preferred being offered was increased to 750 dlrs a share from six dlrs
credit lyonnais is joint lead
ico board meeting delayed one day
the federal statistics office is due to publish provisional national figures for march by the end of this month
speaking to an agribusiness education forum here late yesterday yeutter said the case was resolved at a meeting with argentine agriculture secretary ernesto figuerras during a trade ministers meeting in new zealand last week
according to press reports american can owns 20 pct of jefferies and is its largest single shareholder
they also said if opec holds its official price structure based on a reference price of 18 dlrs spot price fluctuations should be limited to a 1650 to 1720 dlrs range for dubai and a 17 to 18 dlrs range for the north seas brent blend
then everyone would be looking at sales of assets and were no different from the others silas said
sahud said the plant with a capacity of 220000 tonnes a year would probably lose money again in 1987
this year current exchange rates were used for the first time instead of a fixed rate of 2453 dinars to the dollar
dome is next scheduled to appear april six to defend against the action
it said the dividend applies equally to holders of its common stock and class b common
we were quite satisfied with the agreement in paris otherwise we would not have been a party too it he said
the federal reserve entered the government securities market to arrange one billion dlrs of customer repurchase agreements a spokesman for the new york fed said
union officials believe a new bid for the monopoly beet processor is now likely
central bank governor arifin siregar said this week that indonesia faced very limited economic choices
however most said this had not occurred
inflation would fall to 85 pct in 1987 and 75 pct in 1988 from 89 pct in 1986 and further falls in real wages were expected anz said
dutch insurer aegon nv aegnas reported a 64 pct increase in 1986 net profits to 3271 mln guilders and said it expected a moderate increase in profits for 1987
moodys may downgrade resorts international rt 
firm agrees to merge with lotoquik intl
carolian previously reported fiscal six month profit of 12933 dlrs excluding an extraordinary loss of 17210 dlrs compared to earnings of 69829 dlrs in the prior year
over the past five years we paid back 45 billion dlrs and received 11 billion this is a very big effort he said
beall who was in los angeles to address a technology management conference said first quarter sales for the allen bradley unit were flat as compared to a year earlier
wal mart stores inc wmt 4th qtr jan 31 net
other primes range from 1625 to 175 pct
naturally we do not want them to go back into the hands of marcos cronies pcgg sources said a compromise would end a row over a down payment of 500 mln pesos made by smcs hong kong subsidiary neptunia corp ltd in a bid to buy back the shares last year
the federal home loan bank board said its insured savings and loan associations thrifts that made a profit in the fourth quarter of 1986 reported moderate increases in net earnings
unless reason prevails and the major producers return to the conference table the world coffee market will remain free and the consequences for some producers dependant on coffee for their foreign exchange earnings would be catastrophic sroka added
qtly div two cts vs 17 cts pay march 26 record march 12
amstutz told subcommittee chairman rep
shr 99 cts vs 125 dlrs net 418733 vs 235572 revs 2777425 vs 2024116 note 1986 shr after november 1986 600000 class a subordinate floating share issue
we havent had a good weather year throughout the beet and cane areas in more than five years said godfrey adding that the us may be due for a good weather year
the explosion was the second in four days in iowa following the destruction of an archer daniels midland elevator in burlington last friday
a fiber optic line the diameter of a dime can carry the same amount of information as a copper cable 20 feet in diameter
the two free trade agreements fta would gradually remove tariffs and other barriers to cross border trade in goods and many services
pesch in an interview with said based on the conversations he held with shareholders he could not guage whether he had majority support
us trade deficit 3837 billion dlrs in 4th qtr
about 30 japanese commercial banks have outstanding loans totalling over 10 billion dlrs to brazil accounting for about 15 pct of all commercial loans to that country
fourth quarter and full year 1986 includes extraordinary gain of 501000 dlrs and 1040000 dlrs respectively from tax loss carryforwards
taft said theta requested that the company cooperate and provide it with information subject to an appropriate confidentiality agreement
fdics seidman says higher rates could harm banks
the acquisitions total purchase price including cost of financing the above mentioned redemptions will be about 250 mln dlrs hanson said
as the operating companies need to return to the capital markets for debt and preferred stock this should tend to produce lower cost and better terms the company said
the management fee was not disclosed and syndication is expected to close tomorrow
seton said its board of directors unanimously approved the merger in a meeting held today
dresdner declines comment on scrip share report
late in 1985 gencorp cut a deal with fidelity a los angeles investor group and westinghouse electric corp wx to settle the license proceedings and sell khj tv for 313 mln dlrs 70 pct of which would go to westinghouse and the remainder to fidelity
the 203 billion dlr debt rescheduling accord venezuela signed a week ago will reduce its payments over the next three years by 64 pct according to finance ministry figures released this weekend
paul minn
petro canada cut crude prices by 143 canadian dlrs bbl effective march one
a steady 1350 dlrs was paid from the us gulf to morocco and 2325 dlrs was paid for 27000 long tons from the gulf to taiwan
because of department of transportation rules twa also said it put its usair stock into a voting trust with fleet national bank as the voting trustee
the group announced the issue with its first half earnings and said in a statement that the rights issue will be followed by a one for four bonus issue
bankers said the governments policy of fostering lower interest rates could lead to a consumer boom and reignite inflation currently running at about 30 pct
morgan files complaint against metromedia
a diw report added the general downturn in the economy since last autumn had had a negative effect on the willingness of firms to take on workers
the 600000 bonds of a nominal 5000 francs are identical to those of the bfce five billion franc 850 pct january 1987 issue bringing the total of the issue to eight billion francs
it said an unchanged dividend of two cts will be paid on the common and 18 cts on the class b stock
hydro quebec issues canadian dlr bond
to stay competitive fund managers must invest overseas and gain experience with financial instruments which are likely to spread to japan with further deregulation
the company said the remaining funds will be used to equip a prooduction facility in chino calif and provide working capital
the official who declined to be identified said orion the merchant banking arm of royal bank of canada had operated profitably in the market from 1984 to date
us bankers fear that they would not be able to account for the notes in the same way as accruing cash interest payments and that their profits would suffer accordingly
chase amp bank to lower australian prime rate to 1775 pct from 1825 tomorrow
european community ec commissioner willy de clercq meanwhile told reporters conflict between the worlds three major trading and economic powers the ec the us and japan set a poor example for other members of gatt
the debt crisis has probably evolved beyond the capacity of commercial banks alone at least in some cases one top new york rescheduler said
but western economic experts say the effect of sanctions is impossible to calculate
sullivan said some may assume the fed has firmed policy modestly to support the dollar because net borrowings in the two weeks to wednesday were nearly 400 mln dlrs after averaging around 250 mln dlrs over the previous two months
finance ministry officials blamed last months slower import growth on a decline in oil imports as refiners worked off stocks they had built up in january
greece buys 55000 tonnes french maize trade
oper shr 89 cts vs 131 dlrs oper net 3345000 vs 4885000 sales 1268 mln vs 1201 mln year oper shr 167 dlrs vs 215 dlrs oper net 6299000 vs 8013000 sales 3809 mln vs 3521 mln note share adjusted for five pct stock dividend
finance ministers of britain canada france japan the us and west germany agreed on february 22 to cooperate in stabilizing exchange rates around the current levels
the index for materials and fuel purchased by manufacturing industry fell a provisional and unadjusted 11 pct after a 17 pct fall in february
the loans expected in the baker plan have not materialized and debtors have been forced to browbeat reluctant banks
shr 77 cts vs 107 dlrs net 14455000 vs 20083000 sales 3344 mln vs 3485 mln nine mths shr 240 dlrs vs 304 dlrs net 4500000 vs 56928000 sales 9874 mln vs 104 billion
mexico temporarily halts debt equity swaps
it also bought treasury bills worth one mln stg in band one and two mln stg in band two at the same rates of interest as bank bills
azzam said the absence of proper commercial law in some gulf countries and authorities apparent reluctance to adopt financial innovations had also hampered capital markets
saudi to remain as key lpg supplier to japan
santos to acquire total exploration australia
nine mths prior includes extraordinary gain 23 mln dlrs or 14 cts per share for replacement of a pension plan
chock full onuts corp is raising 60 mln dlrs through an offering of convertible subordinated debentures due 2012 with a seven pct coupon and par pricing said lead manager drexel burnham lambert inc
another 8000 were in transit from assembly plants
the reserves hit a record 53 billion us dlrs this week
a spokesman for a group of united airlines employees who oppose the attempted takeover of united by the airline pilots association said he met with the new chairman of allegis frank olson
wilcox and gibbs inc wg sets payout
economists said the fed appears to be very comfortable with its current policy stance and it is likely to wait for perhaps several more months of economic data before deciding whether or not to ease its grip on reserves
the selling concession is one pct while management and underwriting combined will pay 1 2 pct
small grains made good progress despite cool temperatures which slowed growth
qtly div 15 cts vs 15 cts previously pay may 15 record april 18
danzar investment group inc said it received 60 mln shares of commonwealth capital ltd in settlement of a debt and that it will distribute the shares to its stockholders as a dividend
the company said it reacted swiftly to the sharp drop in oil prices which began over a year ago
the italian firm said steuart petroleum operates primarily on the east coast
net loss 14144000 vs loss 863000 revs 103 mln vs 167 mln notes 1986 loss includes write down of 151 mln dlrs in the carrying value of oil and gas properties taken in the first quarter cash flow from operationswas 6237000 dlrs or 301 dlrs per unit vs 9315000 dlrs or 456 dlrs per unit
the payment date is may 5 and there will be a long first coupon
spending and taxing decisions should be linked more closely
bp bp unit to build gold extraction plant
he and other political leaders spoke of qualified optimism following a statement by turkish premier turgut ozal last night that the research vessel would not enter disputed waters as previously annnounced unless greek vessels did so
roger hemminghaus diamond shamrock vice president and soon to be chief executive of the spin off diamond shamrock refining and marketing co said refining and marketing is a margin business
liro puts the add need at around 39 billion dlrs
earnings per one stg of deferred stock 417p vs 349 div 115p making 190 vs 160 turnover 195 billion stg vs 163 billion pretax profit 1741 mln vs 1256 mln tax 494 mln vs 349 mln note companys full name is peninsular and oriental steam navigation co plc porll net operating costs 177 billion stg vs 151 billion share of profits of associates 211 mln vs 379 mln operating profit 2063 mln vs 1542 mln investment income 17 mln vs 36 mln net interest payable 295 mln vs 292 mln employee profit sharing 44 mln vs 30 mln minority interests 25 mln debit vs 24 mln debit extraordinary items 298 mln credit vs 01 mln credit group operating profit includes service industries 407 mln vs 344 mln passenger shipping 195 mln vs 131 mln housebuilding construction development 501 mln vs 300 mln container and bulk shipping 438 mln vs 344 mln p and o australia 66 mln vs 94 mln banking nil vs 77 mln investment property income 456 mln vs 252 mln
fed expected to add reserves
the purhcase is one of a series of overseas joint ventures by which venezuela has managed to assure markets for some 400000 barrels of its approximately 15 mln bpd exports
the warrants are exerciseable at 950 dlrs a share he said
orders exclude 2536 mln dlrs acquired with syscon acquisition
mexico to sign loan amid calls for change
he said that fiscal policy changes in the united states germany and japan would be more important that intervention to instill confidence in current exchange rate levels
the three locals cover about 2600 production and maintenance workers at comincos trail smelter and kimberley bc lead zinc mine
newhall investment properties nip 3rd qtr
the philippines must devalue the peso if it wants its exports to remain competitive economic planning secretary solita monsod told 
michael kadoorie is chairman of hk hotels
shr profit seven cts vs profit 32 cts net profit 154398 vs profit 694521 revs 177 mln vs 195 mln year shr profit 86 cts vs loss 50 cts net profit 1862986 vs loss 1078535 revs 782 mln vs 814 mln note 1987 year results include extraordinary credit of 459000 dlrs or 21 cts per shr due to utilization of tax loss carryforward
sandusky plastics inc spi sets quarterly
sterling remained supported by optimism on the uk political and economic outlook firmer oil prices and relatively high interest rates they said
the judge ruled that the uk court had no jurisdiction to wind up the tin council that the itc was not an association within the meaning of the companies act and that the winding up petition was not a proceeding in respect of an arbitration award
american telephone and telegraph cos proposal to deregulate its long distance phone service is unlikely to produce a radical change in phone rates but it should help the companys profits analysts said
proceeds will be used to refinance outstanding indebtedness coca cola enterprises said
six killed in south african mine
caltex to raise bahrain oil product prices
mikulic said yugoslavia had understanding for what brazil had done
for that we must take the step forward to the institutional level said leo de corel of kredietbanks economic research department
salomons operation was an attempt to demonstrate its commitment to the japanese market in the hope of expanding its underwriting share of 10 year bonds securities sources said
in addition henderson said overall corporate growth will come from icis research and development activities but the company intends to continue to grow through an acquisition program
the central bank on tuesday raised overnight rates by a quarter of a percentage point to 14 pct on demand for 746 billion pesetas
but profits in balfour beatty were substantially improved
the central bank made outright purchases of bank bills comprising 34 mln stg in band one at 9 7 8 pct 39 mln stg in band two at 9 13 16 pct 51 mln stg in band three at 9 3 4 pct and 28 mln stg in band four at 9 11 16 pct
child world inc cwld 4th qtr jan 31 net
the category referred to as other covering bank and credit union loans increased by 74 mln dlrs in february after rising by 255 mln dlrs in january the fed said
leucadia said it bought the minstar stake to obtain an equity position in the company and has no intention of seeking control of it
barwon is offering 100 pesos each for 24 mln class a san miguel shares and 14 mln class b stock
existing policy allowing the state up to 30 pct equity in major mining projects and 225 pct in oil and gas projects would be maintained he said
commenting on the deficit during an interview on cable news network baker said i think youre going to see a 15 to 20 billion dlr reduction this year the deficit was 170 billion dlrs in 1986
the period weve gone through in the past five years has been quite a crunch he said
the acquistion brings to 57 health care facilities acquired in the last three months the company said
a national seamens strike however continued and marines remained in the countrys main ports
he told the daily newspaper ashai shimbun that reagans decision was based on inaccurate data and an exaggerated sense of mitis power to control japanese traders
dennison manufacturing co said it has signed a letter of intent to sell its dunn paper co subsidiary to james river corp jr for an undisclosed amount of cash resulting in a first quarter charge against earnings
shr 70 cts vs 53 cts net 173 mln vs 129 mln revs 3369 mln vs 1575 mln six mths shr 134 dlrs vs 107 dlrs net 330 mln vs 263 mln revs 6547 mln vs 3101 mln backlog 19 billion vs 8518 mln note year ago qtr and six mths included after net charge of about four cts per shr representing the difference between a gain on the sale of securities and the write off of certain nonrecurring costs
and jauppi says that dealerships can be expected to become international
gm gm to idle six plants 21600 workers
but a rare public row between the ebullient poehl president of the bundesbank and stoltenberg over a controversial investment tax proposal has added to the woes of the countrys already nervous financial markets bankers said
baker fentress and co bkfr votes dividend
digital said the ruling involved a copyright infringement suit filed against softklone by microstuf inc which digital acquired in october 1986
prices of wholesale finished energy goods in the united states were up in february rising by 40 pct after a 98 pct rise in january the labor department said
one is a growth contingency co financing with the world bank for 500 mln dlrs of which half will be guaranteed by the world bank
van driel stressed that while these listings would not be accompanied by new share issues they provided easy vehicles for the company to raise capital for future expansion
msa realty corp sss 4th qtr net
despite ec dairy restrictions wessanen which produces around 10 pct of all dutch cheese saw good growth prospects for its dairy sector within europe van driel said
the week has seen good demand for thai raws particulary for october december shipment which has traded above twenty points premium to the october new york delivery it said
its debt with private banks is about 30 billion dlrs
in a statement reacting to the five institutes joint spring report bangemann said that as far as the call for bringing forward the 1990 tax reform was concerned the government points out that the positive effects for growth of its policy of consolidation cutting the budget deficit must not be allowed to be endangered bangemann also recalled that the scope of tax cuts planned for 1988 had already been increased
the yens climb has lost exporters sales and profits in the huge american market
boeing said if less than 90 pct of argosystems shares are tendered but the purchase of all shares tendered along with the exercise of options it holds would give it over 90 pct of argosystems boeing may buy all shares tendered
advances will be priced at 31 1 4 basis points over the london interbank offered rate while notes which need only be purchased by banks if third party investors agree to buy them as well will be priced at offering
turkeys trade deficit in december narrowed to 216 mln dlrs from 340 mln in november and compared with 277 mln in december 1985
alliance financial corp alfl dividend set
petrobras said it had requested their withdrawal because the refineries were calm and oil workers had indicated their willingess to negotiate next wednesday
commercial paper might encourage fewer swaps one bond manager said
nogales said the capital flow on bolivias debt servicing versus new credits had changed from a net outflow of 200 mln dlrs in 1985 to a net inflow of 130 mln dlrs in 1986
the situation is completely absurd from an economic point of view bangemann told the newspaper die welt in an interview released ahead of publication tomorrow
it is also issuing specific instructions on production to the japanese subsidiary of texas instruments inc trade and industry minister hajime tamura spelled out the steps japan was taking to salvage the pact and appealed for us understanding in a letter to top american policy makers
the association also backed broad federal restrictions on a variety of tactics used in hostile corporate takeovers
it added that the restructuring plan would allow the firm to return to long term profitability once it had been approved by local authorities banks and the workforce
first savings bank florida fsbf sets meeting
in return the united states agreed to hold up imposing anti dumping duties on japanese semiconductor shipments
it is expected to be considered by the full senate by the end of the summer
the buffer stock system of price differentials set according to quality and a 15 pct limit on purchases from non members could limit the buffer stocks scope for action dealers said
the hong kong economical journal quoted a spokesman of jacksons as saying barwon plans to set up a branch in the philippines to meet the criteria
earlier aero reported a 1986 year end net loss of 30 mln dlrs compared to a profit of 483000 dlrs in 1985
further details including the amount being offered will be announced monday
the cpb forecasting an 85 pct increase in the value of the guilder on a trade weighted basis compared with 100 pct last year said the dollar was expected to trade at an average of 20 guilders in 1987 compared with 245 guilders in 1986
huckaby who told us sugarbeet growers earlier this year they must halt production increases said he will deliver the same message to louisiana sugarcane growers friday
german banks may participate in futures exchanges through branches abroad but these are at least outwardly subject to stringent west german rules requiring that every contract be secured on a one by one basis with a separate hedge to prevent speculation
it seems to put them slightly closer to an agreement but one shouldnt forget how much they have to negotiate said another trader of todays developments
dalton bookseller of 852 mln dlrs or 88 cts a share in each period 1987 earnings exclude extraordinary charge from purchase and redemption of debt of 126 mln dlrs or 13 cts a share in the quarter and 323 mln dlrs or 33 cts a share for the year
american international aig sells african unit
non members include the us a consumer and malaysia an increasingly important producer
kuwaiti dinar rates firm aid window open
the company also said it did not believe the brazilian debt situation would have a material adverse effect on it
ecuador will produce crude oil in excess of its 221000 bpd opec quota during the second half of this year energy minister fernando santos alvite told a news conference
they took a gross 2659 billion dlrs of japanese bonds up from 1416 billion in january and sold 2702 billion up from 1394 billion
in a filing with the securities and exchange commission mark iv said its top officials told baird executives at a march 17 meeting that while mark iv may buy more baird common stock it presently intends to hold it to the 25 pct limit
sichuan braced to fight drought
the february rate seasonally adjusted now stands at 40000 down from 79000 in january the government agency said
it said proceeds from the offering to be managed by drexel burnham lambert inc will be used to redeem all 20 mln dlrs face amount of its 11 7 8 pct senior subordinated debentures and to buy back some of its 1320 pct senior notes
he predicted the united states would respond to any future major iranian challenges by hitting irans naval base at bandar abbas on the straits of hormuz followed by mining the approaches to irans oil export terminal on kharg island
oper shr 93 cts vs 32 cts oper net 2443810 vs 847609 revs 303 mln vs 210 mln 12 mths oper shr 116 dlrs vs 85 cts oper net 3066407 vs 2250781 revs 709 mln vs 618 mln note qtr 1985 excludes gain 96327 dlrs for discontinued operations of lebanon packaging
it was not rated by moodys investors or standard and poors at the time of the pricing stifel said
shr after preferred divs
northern trust co said it is raising its prime rate to 7 3 4 pct from 7 1 2 pct effective april 2
we believe there will be some worthwhile progress in reducing the deficit this year
he said the us administration was ignoring the progress that has been made and instead emphasizing the problems that remain when it talks with congress
wilhelm christians said
operations in continental europe made 78 mln stg in trading profit up from 34 mln with 40 mln stg made in australasia up from 23 mln and 113 mln stg from the rest of the world against 131 mln in the previous year
argentinas total oil and gas production fell 94 pct in february to 278 mln cubic metres from januarys total of 311 mln cubic metres the state oil company yacimientos petroliferos fiscales ypf reported
it is ludicrous for the nations of the world to plough immense amounts of financial resources into the production of items that nobody wants to buy he said
however differentiated policy treatment is required to take account of large disparities in the situation around the ec he said
agricultural subsidies and trade barriers have created a vicious circle which continues to cause problems of overproduction and low commodity prices carney told the house of commons
but he said that any response would be in accordance with international law and japans international obligations
the company also said it is holding talks with its bank creditors and expects a restructuring agreement soon
he noted that there have been no other publicly identified bidders stepping forward since the company rejected an earlier bilzerian proposal in mid april
the seasonally adjusted but non smoothed deficit on invisibles was 240 mln dlrs against 229 mln dlrs in march and 245 mln dlrs in april 1986
algemene bank nederland nv abnnas chairman robertus hazelhoff said the banks 103 pct increase in net 1986 profit to 527 mln guilders from 478 mln in 1985 was encouraging in view of the sharply lower dollar
stocks aug 31 1986 at 536 vs 536 last month
they have a substantial portfolio in real estate
he accused the us of being irrational he said the us action had made the bilateral chip pact meaningless sabas comments contrasted with those of prime minister yasuhiro nakasone who said tokyo wanted to solve the dispute through consultations
feldstein said he believed current third world debt problems were less serious than those faced by the international monetary system in 1983 and 1985
jutland telephone issues 75 mln sfr 10 year bond
venezuela tightens foreign exchange restrictions
azraai said the malaysian governments development expenditures were cut by about 25 pct in 1987 while those of state enterprises were reduced by 41 pct
non communist february aluminium output up ipai
i wish for a european solution that will enable germany and france to move closer together which is currently necessary he was quoted as saying
the undertone however remained cautious as operators await an eventual start to icco buffer stock buying dealers said
burke were also named directors expanding the board to five summit added
the following proposed securities offerings were filed recently with the securities and exchange commission caterpillar financial services corp subsidiary of caterpillar inc cat shelf offering of up to 300 mln dlrs of debt securities including debentures and notes through underwriters that may include goldman sachs and co
it said it issued the statement on sunday because a similar statement was being circulated to employees
the first lease sale in 1983 involved 24 mln acres and generated 318 mln dlrs while the second lease sale in 1984 covered 37 mln acres and produced 516 mln dlrs
the administration said it opposed the bill because by expanding the 400 mln dlrs in disaster relief it would thwart efforts to encourage farmers to buy crop insurance as an alternative to federal disaster assistance
if supplies become more difficult and prices strengthen further feed compounders may increase cereal substitute usage traders said
in an effort to save the agreement miti is asking japanese chip makers to limit production in the hope that will boost domestic demand and reduce the incentive to export
the current rash of labour unrest in industry and agriculture stems from the failure of the governments now collapsed cruzado plan price freeze
amatil ltd amaas said it proposes to make a two for five bonus issue out of its revaluation reserve to shareholders registered may 26
the fed noted that after trading steadily throughout november and the first half of december the dollar moved sharply lower until the end of january
claremont previously disclosed in december that it had agreed to act in concert with walsh greenwood and co an affiliated investment firm to acquire champion products
neither sarney nor finance minister dilson funaro accepted the proposals the sources said
us treasury secretary james baker said over the weekend that the paris pact did not encompass fixed tragets for the dollar
financial performance fpcc pursues expansion
united grain corp of oregon won three contracts to supply 93000 tonnes priced from 9232 to 9319 us dlrs per tonne c and f taiwan for delivery between may 10 and july 30
maize production is targetted to rise by 48000 tonnes or 48 pct and exports by 34000 tonnes or 45 pct
the number of vacant positions registered with employment offices stood at 11968 against 10694 in january
n american communications nacso weighs sale
they were aimed at revitalising the domestic corporate bond market securities house managers said
lau said two representatives of evergo will be nominated to the hk hotels board
shr loss 52 cts vs profit 16 cts net loss 4987000 vs profit 1570000 revs 180 mln vs 247 mln six mths shr loss 214 dlrs vs loss seven cts net loss 20525000 vs loss 557000 revs 256 mln vs 308 mln note full name de laurentiis entertainment group inc
the year earlier figure excluded a 1817000 dlr loss from discontinued operations
the bundesbank set a new tender for a 28 day securities repurchase agreement offering banks liquidity aid at a fixed bid rate of 380 pct a central bank spokesman said
chrysler c to step up counterfeit battle
the disney family already holds 101300 holly sugar shares or 90 pct of the total outstanding following purchases of 12500 shares march 13 april 17 shamrock told the sec
ici expects to file for permission to market carwin in the us later this year
procter and gamble said grey will continue to handle many of its brands including crisco bold joy downy and puritan oil monchel and jif
as debt is repaid pretax interest coverage should rise gradually from the current depressed 14 times level
takeover speculation has driven uals stock for several weeks
the second for export development corp at 4 1 2 pct and 101 7 8 pct led by bank of tokyo international
underwriters said that two of the ubs lead offerings were negotiated deals
kingsbridge holdings ltd said it signed a letter of intent for a merger with masco sports inc the transaction calls for 230 mln sahres of kingsbridge common stock to be issued to shareholders of masco
riverside group inc rsgi 4th qtr
the commerce department reported last week that the nations trade gap calculated on a balance of payments basis swelled to a record 3837 billion dlrs in the fourth quarter bringing the 1986 deficit to a record 14771 billion dlrs
bushnell
earlier this month caesars world rejected the sosnoff takeover bid and said it is considering alternatives that include a restructuring or sale of the company to another party
the special daily rebate for maize was set in the context of a commission commitment to grant this season rebates for the export of 500000 tonnes of french maize to non ec countries in compensation for concessions to the us in the recent dispute over grain sales to spain
late in the month harper and row said its board had received expressions of interest from a number of domestic and foreign companies
31 1985
painewebber group inc said it will redeem all its outstanding 8 1 4 pct convertible subordinated debentures due 2008
ifo and diw saw these investments rising by only two pct
in an article published in todays handelsblatt daily steckhan said despite decisions by peru costa rica ecuador and brazil to suspend some interest payments these nations were still willing to talk constructively about their debts
tri star pictures inc said it agreed to acquire the roosevelt field century theatre from canadas cineplex odeon corps rko century warner theatres inc for 17 mln dlrs
now the situation appears much less severe elton said
but he said the costs would decline as market prices recovered
darman also worked on some other baker initiatives like the tokyo summit agreement to intensify coordination of economic policies among the leading industrial countries and the recent paris agreement to stabilise currencies and stimulate global growth
the company had said it could not forecast consistent profitability until 1988 at the earliest
european american bancorp 3rd qtr net
habbel said turnover in 1986 rose to 99 billion marks from 96 billion in 1985 and looked certain to rise to over 10 billion this year
a separate article in the daily warned that a sudden thaw was expected shortly in the ukraine and southern parts of russia which experienced record snows this winter
since november 27 the bank has confined activities to the winding up of affairs bank of british columbia said
the number of people actually receiving benefits under regular state programs totaled 2454000 in the week ended march 7 the latest period for which that figure was available
if approved by shareholders brokers choice will issue about 71 mln shares of authorized but unissued shares of restricted common stock to rubbertech inc
operation of the plant to be jointly owned by amselco and nerco is set to start in october
liquidity among private households and especially the corporate sector has increased substantially he said
international thomson to report in us funds
if they had to nudge policy tighter they could do so but its most likely theyll sit and wait the data have not been uniform stone added
but they said that if it had not been for a large one day net miss in the feds reserve projections the higher borrowings target would probably have been reached
it has given total assistance of 213 mln stg today
consul said the debt was taken on to finance expansion
the selling concession is 1 1 2 pct while management and underwriting combined pays 3 4 pct
ibm acquired rolm a santa clara calif based maker of telephone swichboards and other telecommunications equipment in 1984
keith skeoch chief economist at stockbrokers james capel and co said the remarks have been blown out of proportion
first tuskaloosa has assets of more than 425 mln dlrs
im really excited about it frazier said
the company lost 10 cts per share in 1985
eksportfinans a s of norway is issuing 15 billion yen in eurobonds due april 23 1992 priced at 103 with a five pct coupon mitsubishi finance international ltd said as lead manager
sulpetro ltd said its 1986 fiscal year net loss of 2764 mln dlrs or 1922 dlrs per share was due to several factors the largest of which was a writedown of 1250 mln dlrs of oil and gas properties
bonn and paris are diametrically opposed to a proposal for the brussels executive commission to overhaul radically the ecs complex green currrency system designed to translate common ec farm prices into national currencies
both producer and consumer icco members said after the opening session that prospects for an agreement on the cocoa market support mechanism were improving
canadian gypsum co ltd year net
detroit edison co said it filed a shelf registration for the proposed offering of one billion dlrs in general and refunding mortgage bonds
to help maintain our open access to the us steel market the government is taking further action to ensure we have more accurate data on exports and imports and that canada is not used as a backdoor to the us market by offshore suppliers carney said
amcast said it decided to sell the division to move out of the gray iron castings business
the issue is guaranteed by denmark
mitek als said it has introduced a line of 15 page per minute desk top laser printers
conoco last changed its crude postings on may 21
the stock is trading at about 1 3 its appraised value
this provides a rate of 350 pct for three day deposits and is an effective floor to the market
computer language research in clri 4th qtr
he said international organisations such as the world bank pledged an unchanged 168 billion dlrs in fresh funds to indonesia and this years overall total up from last years 26 billion reflected higher pledges from donor countries
panganiban is quoted as saying that san miguel could tap food and liquor distribution lines in australia britain the us new zealand and hong kong through barwon farmlands ltd a listed australian firm in which it has 30 pct equity
economic spotlight saudi corporate debt
miyazawa says bakers remarks were aimed at just reaffirming louvre agreement
we are looking at more options to acquire more reserves rather than just exploration conger said adding the move to consider acquisitions represents a change in the companys acquisitions policy conger said all of homestakes current cash position of 120 mln dlrs would be available to acquire reserves
li said hong kongs property market remains strong while its economy is performing better than forecast with its largely export led growth
software ag systems inc said it expects to report earnings for its third quarter substantially weaker than earnings of prior periods due to an unexpected shortfall in us domestic license revenues
ncr corp ncr 1st qtr net
president corazon aquino had accused some creditor banks of non too subtle coercion in threatening to refuse to sign the rescheduling accord until the loan problem was settled
hongkong aircraft reported this month its 1986 net profits rose 295 pct to 1155 mln dlrs
traders detail french cereal export requests
all that some countries would like to have would be a wheat agreement where we would stop export subsidies on wheat
shr 18 cts vs 13 cts net 575000 vs 379000 sales 6625000 vs 4537000 avg shrs 3173000 vs 2977000
carroll said baker had previously estimated 110 to 130 mln dlrs in savings if the companies were combined without selling reed
still the split within the banks ranks came as a shock
it said all other conditions remain unchanged from the previous announcement
related companies profit 31 mln vs 14 mln
this year began well with the performance in january and february at least equal to the same period last year the official said
us exporters report 122000 tonnes corn sold to mexico for 1986 87
in other words we will have regained the 1985 position and improved on it holden brown said
volcker departure revives dlr inflation fears
nz money supply rises 36 pct in december
super rite foods inc srfi sets qtrly payout
the acquisition should be financed initially with bank debt that together with the assumption of chemlawns debt could raise significantly ecolabs leverage
transamerica insurance group the main property liability insurance operation of transamerica corp said it signed a definitive agreement to acquire a newly formed insurer commerical risk underwriters insurance co from clarendon group ltd transamerica said the unit which will be renamed transamerica reinsurance co will initially be capitalized at about 185 mln dlrs
maxtor said the purchase reflects its desire to compete in the high capacity segment of the pc market
wayne bennett the american soybean associations first vice president told a news conference the us administration would not hesitate to retaliate but both producers and processors were trying to solve the issue through negotiation
at that time wyly owned a potpourri of 13 different businesses only three of which were involved in computer software
chesapeake utilities corp chpk regular div
conrac has about 675 mln shares outstanding
it said payment would have been on april 15 1987
other economists said the fed would probably pay little attention to weak money supply growth
a 100 mln dlr offering of 30 year bonds bears an 8 3 4 pct coupon and was priced at 9960 to yield 8788 pct or 120 basis points over treasuries
january 1987 natural gas output totalled 115 billion cubic metrers 36 pct higher than 111 billion cubic metres produced in january 1986 yacimientos petroliferos fiscales added
the new price is similar to other oil companies price for the same grade
may department stores ma 4th qtr jan 31 net
major us farm groups oppose policy changes
for this purpose the conference decided to establish a committee of three heads of delegation to undertake visits to member countries in order to motivate them to comply with the terms of the agreement moreover the conference stressed the necessity of the cooperation of the oil producing exporting countries outside opec as an essential prerequisite for a lasting market stability
the agreement is subject to shareholder and regulatory approval
the uk clearing banks swiftly took this up cutting their base rates by a half point to 10 pct
vazquez rana who is both chairman and chief executive officer of upi is the publisher of a successful chain of 62 newspapers in mexico chairman of the mexican olympics committee and chairman of the worldwide association of national olymnpics committees
payment and closing date is april 23 and redemption will be on the same date at the end of each of the periods
year to date truck production was 395967 down from 410821
john adams life corp jalc 4th qtr loss
an inland revenue ruling accompanying todays uk budget would eliminate a favourable tax treatment on certain foreign loans by british banks and may be a nightmare of practical application banking sources said
they said consumption would increase due to a rise in demand for cotton yarn in domestic markets and abroad
analyst robert gordon of shearson lehman brothers inc said manufacturers hanover corp mhc has the greatest exposure to brazilian loans of any new york bank in terms of percentage of earnings
acico says it is ready to take its case to brussels if necessary
the sale terms of which were not disclosed will be completed early in the second quarter rogers said
barber said in a statement on the banks 1986 results that bad and doubtful debt provisions both general and specific stood at 5456 mln stg against 4166 mln at end 1985
valhi said these results were prepared as if the merger had occurred july 1 1986 and on substantially the same basis as the pro forma financial information in llcs and amalgamateds joint proxy statement dated february 10
the debt was surrendered for conversion into comon stock resulting in 2685142 shares being issued
on january 11 the mark was revalued by three pct against the french franc relieving pressure on the french currency
twa filed a revised application today following the dots rejection friday of an incomplete application filed last week
in the last few minutes of trading on friday another trader said the stock jumped to close up 3 3 8 largely on anticipation that the company would make a weekend announcement
garcia said the other gold bearing deposits are located at tamborapa pachapidiana and a zone between the cenepa and santiago rivers
the company will become a wholly owned unit of altron
us to sell 128 billion dlrs in bills
no zimbabwe dollar devaluation central bank
nacco industries nc to report 2nd qtr gain
arus corp said it has received a letter of intent from winston financial corp for the purchase of over 5200000 dlrs in telephone diagnostic testing equipment
fish said the pact that was rejected contained a cost of living increase tied to the canadian consumer price index but no wage increase
investment canada said it has allowed the indirect takeover of holt rinehart and winston canada ltd wb saunders co of canada ltd and les editions hrw ltd by harcourt brace jovanovich canada inc
affiliated publications inc afp sets dividend
but some government supporters say they fear time for an economic miracle may be running out
sizzler restaurants international inc sizz net
orion royal bank has decided to withdraw from making markets in floating rate notes frns an official of orion said
hanson han unit to sell kaiser terminal plant
union enterprises ltd said holders of 72 mln or 80 pct of its class a series one preferred shares requested to retract their shares under terms of the issue thus raising unicorp canada corp s voting stake in union to 58 pct from 50
but he warned that this assumption might not be justified
russo said it had no knowledge or reason to believe that any of these transactions were based on the improper use of inside information
china to tighten import control cut export costs
commercial international corp said it has completed the previously announced acquisition of most of the assets of growers distributing international corp a table grape marketer for an undisclosed amount
poehl welcomed the so called louvre accord of monetary officials of major industrialized countries saying the importance of the february 22 agreement to stabilize exchange rates had been underestimated
the washington post today quoted john gaughan administrator of the martime administration as saying kuwait has approached an american shipping company about the possibility of a charter
however he complained that congress had not yet approved those measures
on december four calny rejected as inadequate an investor group led by former president and chairman robert a
bankers say continuation of present economic reforms is crucial for the government to get the international lending its needs
shr 47 cts vs 48 cts net 5050 mln vs 5330 mln revs 847 billion vs 843 billion nine mths
the shares may be used for acquisition and for stock option plans it said
he said if outside directors approve the management proposal a merger plan could be put to a vote of shareholders with proxy material going out late this week
the talks broke down last june after the two sides said they could not agree on the terms of the sale
vms strategic land trust said it delcared an initial quarterly cash dividend of 30 cts a share payable may 15 to shareholders of record april 20
american sources say he is ready to state that the best way to reverse protectionist sentiment in the united states is to implement four key uruguay proposals an end to agricultural subsidies inclusion of trade in services and investments in gatt regulations tightening of restrictions on pirating of so called intellectual property such as trademarks patents and copyrights new rules to resolve trade disputes among gatts 92 member states
stad rotterdams premium income in 1986 was 117 billion guilders making it the fifth largest dutch insurer
the new china news agency said the average december temperature in harbin in the northeast was six degrees higher than last december and 14 degrees higher than december 1984
the us agriculture department forecast the european communitys 1986 87 wheat crop at 7160 mln tonnes vs 7150 mln tonnes last month
halcyon investments a new york risk arbitrage and securities dealing partnership told the securities and exchange commission it has acquired 288000 shares of cyclops corp or 71 pct of the total outstanding
the average yield on the three month bills was the highest since 566 pct on feb 17
bergsten predicted the us trade deficit which hit 169 billion dlrs last year will fall 30 40 billion dlrs a year for the next two years as a result of the dollars 35 40 pct decline since september 1985
oil sources said spot prices are unlikely to surge strongly in the next few months due to cheating by some opec members and the likelihood that saudi arabia will act as swing producer to maintain steady prices
baker said the louvre accord was still operative but he strongly criticised west german moves to raise key interest rates
indonesias revenue from oil exports was cut in half last year
qtr ends march 31 shr one dlr vs 76 cts net 119 mln vs 8929000 six mths shr 192 dlrs vs 143 dlrs net 228 mln vs 168 mln note full name of bank is washington federal savings and loan association
hanna announced last august that it was in negotiaitons to purchase the company
asked if the companys sami business is for sale munro said it is a delicate subject and were looking at all the options sami is a marketing information service for the food industry
at the same time payments over the next three years were lowered from 3450 to 1350 billion dlrs
zaire and imf in economic rescue talks
oper shr profit seven cts vs loss 12 cts oper net profit 216000 vs loss 401000 sales 214 mln vs 249 mln note current year net excludes 142000 dlr tax credit
cogeco buys fm station plans share issue
hudsons bay co had 1986 writedown of 404 mln dlrs mainly on stake in dome petroleum
oil minister vasily dinkov announced the figure on tuesday at the supreme soviet the countrys nominal parliament
larry eckenfelder of prudential bache securities said he believes american express could have considered a partial spinoff in the past
chairman urges freer information flows
terms will be set on march 24 with payment due april 23
there are some areas of disagreement he said
we achieved in one year what would otherwise have taken five to 10 years to set up cornelissen stressed that royal trust would shun direct competition with major global financial institutions in activities such as international lending and stock brokerage in order to exploit profitable niches overseas in traditional trust activities such as asset management private banking and advisory services
volvo issues 70 billion eurolire bond
corrected university patents inc upt 2nd qtr
australian officials said they hoped the goodwill generated by their participation would lead to further citic investment in victoria
state owned china steel corp said its steel exports will drop to some 600000 tonnes in the year ending june 30 1987 from more than 810000 in 1985 86
imf world bank to meet amid new inflation fears
tightening up on the use of generic in kind or pik certificates will also be another option his committee will study glickman said
many awb customers are becoming increasingly quality conscious demanding strict adherence to contractual quality specifications the board said in a submission to the royal commission into grain storage handling and transport
the highly visible drama involving the yens sharp rise against the us dollar is obscuring the fact that the japanese currency has hardly budged against major european currencies thus creating a new set of exchange rate distortions japanese and european research officials said
aloha inc said its leveraged buyout by aq corp which acquired 91 pct of aloha common and 82 pct of aloha preferred in a tender offer that concluded december 26 has been completed for 2850 dlrs per common or preferred share
general director hannes androsch said higher investment would lead to continuing growth in profits in future
they said vast foreign currency reserves earned mainly from huge trade surpluses with the united states made taiwan a target for us protectionism
there is a 1 1 4 pct selling concession and a 5 8 pct combined management and underwriting fee
jardine matheson plans four for one bonus issue
the coupon has been fixed at 750 pct and the conversion price at 248 pence to give a 2784 pct premium over last nights share price close on the london stock exchange
payment of 310 dlrs and delivery of two warrants will entitle the shareholder to one additional share of the merged company
this issue equals in size a record one by toyota motor corp last december
credits made by foreign companies or banks to subsidiaries which have their legal base in italy will also be excluded from the conditions
bank of japan mulls other options to stop yen rise
they leave me alone and give me all the support i need maybe if we werent doing so well there wouldnt be that support but that hasnt happened he said
global petroleum corp said today it lowered the posted cargo prices for number six fuel in the new york harbor 45 to 75 cts a barrel effective today
allis chalmers said a bankruptcy filing appears to represent the companys only alternative if agreement upon the terms of the plan cannot be reached the spokesman said in response to an inquiry that he was not aware of any extraordinary charge against earnings that would result from the restructuring
pork will rise by 188 pct and beef 233 pct
net includes gain from sale of investments of 64000 in qtr 1987 and 157000 vs 1231000 in nine mths 1987 vs 1986
but others said it kept several options open and it was not possible to deduce too much from it
prior qtr and year figures exclude losses from discontinued operations of 19 mln dlrs or 88 cts per share and 23 mln dlrs or 107 dlrs per share respectively
operating profit includes commercial activities 108 billion vs 988 mln financial services 263 mln vs 135 mln share of associated companies 139 mln vs 163 mln investment income 150 mln vs 166 mln interest paid 238 mln vs 286 mln minorities 76 mln vs 63 mln extraordinary credit 75 mln vs 34 mln debit transfer to revaluation reserve 85 mln vs 106 mln profit attributable 793 mln vs 673 mln required inflation retention 77 mln vs 147 mln trading profit 151 billion vs 129 billion trading profit includes tobacco 764 mln vs 738 mln retailing 211 mln vs 186 mln paper 217 mln vs 168 mln financial services 282 mln vs 135 mln
besides the presence of the ibc president at an ico executive board meeting is not a tradition dauster said
in a filing with the securities and exchange commission financiere credit suisse said it bought 870100 first boston common shares between feb 10 and 27 at prices ranging from 48125 to 53000 dlrs a share or 225 mln dlrs total
mobil raises west coast crude prices between one dlr and 175 dlrs bbl today
a canadian government agency ruled today that us farm policies are causing injury to canadian corn farrmers and supported an earlier imposed countervailing duty of about 85 cts per bushel
high real interest rates were attracting an influx of speculative foreign capital which was undercutting the governments target for monetary growth cuevas said
aneco reinsurance co ltd anecf year net
siemens ags siegf fully owned subsidiary siemens informations systems inc
two years ago before selling its ormet corp subsidiary in the united states to local management and staff alusuisse had an annual capacity of 800000 tonnes
consolidated tvx to buy brazil gold mine stakes
this left out income from state reserves usually excluded in official budget accounting which are forecast by bankers at up to 10 billion dinars in 1986 87 resulting in some shortfall
however chairman randall fields told a news conference the company would not move into any new countries during 1987 but would intensify its efforts where it already had stores
this is making the japanese people doubt nakasones credibility shiratori told 
shutting down 12 unprofitable stores since november has effectuated cost controls and improved merchandising it said
the diplomats also said however that they did not expect the kind of social unrest that followed sharp price rises in other east bloc states notably poland
the federal reserve is expected to add reserves to the us banking system by arranging a round of customer repurchase agreements during this mornings intervention period several economists said
diplomats accredited to the ec in brussels said they saw no signs of any immediate intention to impose any broad ranging sanctions against japan
the figures show stocks at end february of 249 mln tonnes raw value against 233 mln a year earlier
kaske said investments were expected to remain around six billion marks in 1986 87 after a 50 pct increase the previous year
homestake hm mulls buying ore reserves
venezuela issued a new plan in december for the repayment of 78 billion dlrs in private sector foreign debt
in fiscal 1986 conagra had net income of 1053 mln dlrs on sales of 59 billion dlrs
ralph bunche a vice president of morgan stanley international predicted at a recent euromoney conference on mtns here that they will become the predominant instrument for raising funds in the late 1980s and 1990s
an unexpectedly heavy 44 billion stg surge in uk september sterling bank lending is unlikely to nudge the bank of england towards tightening monetary policy as long as sterling remains in its present robust state economists said
dennison manufacturing dsn to sell paper unit
asea has operations in power generation and transmission transportation equipment pollution control and robotics
zambias talks with the world bank and international monetary fund imf on a financial rescue package have run into difficulties on the issue of food subsidies an official newspaper said
ball corp bll 3rd qtr net
but he said the company which is taiwans largest shipbuilder still has full government support and had begun diversifying into ship repairing and manufacture of pipes and other machinery
west german retailers expect another good year in 1987 even though they will not be able to repeat the sharp increase in turnover they enjoyed in 1986 the general association of the german retail trade hde said
making the loan partially in certificates which would not have to be paid back would be one option he said
entourage also said it has started marketing a solid perfume packaged in a lipstick tube called amadeus retailing at 15 dlrs
uk money market offered early assistance
oper shr 12 cts vs five cts oper net 1715000 vs 730000 sales 121 mln vs 7719000 avg shrs 139 mln vs 137 mln nine mths oper shr 32 cts vs 18 cts oper net 4379000 vs 2266000 sales 328 mln vs 233 mln avg shrs 138 mln vs 124 mln note prior year net excludes extraordinary credits of 340000 dlrs in quarter and 1190000 dlrs in nine mths
proceeds from the bonds issued under the companys shelf registration will be swapped for us funds resulting in an all in cost to dow fixed at 15 basis points below the two year us treasury rate
the notes will be in bearer form in denominations of 100000 dlrs and will be listed on the stock exchange of singapore ltd chuan hup said
lyng said he is optimistic the ruling will favor the us these are quota items and the principles that apply to them it seems to me will have some bearing on the question of whether you would have quotas or not on beef and citrus lyng told in an interview
ongpin says pins will revive baker plan
he said president reagan will veto any bill that contains serious flaws and i believe that veto would be sustained
a drop in saudi arabian output to a tentatively forecast 33 bpd in march from 36 bpd in february was the largest factor behind the opec production decline the iea said
new orders for non electrical machinery were up in february by 39 pct to 166 billion dlrs after a three pct orders decline in january
bank of ireland said it has mandated barclays de zoete wedd ltd bzw to arrange a 300 mln stg committed certificate of deposit issuance facility
the bonus award was made to conagra poultry co and will be paid in the form of commodities from the inventory of ccc stocks
he declined to predict specific results for the first quarter
for mellon and security pacific s and p cited higher non performing assets and weaker operating earnings
the nine existing stores generated approximately 348 mln dlrs of supermarkets generals total sales of 29 billion during the six month period ended aug one 1987
the threatened trade war between the united states and japan is just the kind of shock that economists say could send world stock markets into a tailspin
it is the most important thing that has happened in the plessey telecommunications business said plessey telecommunications managing director david dey
the institutional sources said salomon cited a filing with the securities and exchange commission by citibank the lead bank of citicorp
the provision for loan losses in the quarter was 35 mln dlrs compared to 1521 mln in the first quarter 1986 when there was a special addition to the reserve of 100 mln dlrs
katz chairman since 1985 will remain a board member
stone container corp said it is splitting its common stock 2 for 1 and increasing its dividend 33 1 3 pct
scotts said it would operate capital food as a separate unit under capitals current name and management
yamamoto admitted that oki electric industry co s hong kong subsidiary had sold chips at an inappropriate level but denied that it was dumping chips at rock bottom prices
it is expected the issue will close on april 28
to the extent any government action is needed to deal with the trade deficits policies should focus on economy wide phenomena such as exchange rates and relative economic growth the ftc study said
codelco argued that seguel could not continue as union leader when no longer employed by the company
strong winds and high seas forced the closure of egypts main port of alexandria and a nearby oil terminal port officials said
bangladesh will import 60000 tons of high speed diesel oil from the soviet union under a barter agreement signed here last week bangladesh petroleum corporation officials said
we fear that up to 300 people died in napo though there is no way of now knowing the exact figure because many people have disappeared he said
penn pacific corp said it plans to place about two mln dlrs of convertible debentures with persons outside the us through euro continental securities
s and p said the merger would allow american security to diversify its wholesale funding base
dist nine cts vs nine cts prior payable may 14 record april one
shr loss 151 dlrs vs profit eight cts net loss 7377000 vs profit 384000 sales 1593000 vs 4366000 nine mths shr loss 224 dlrs vs profit 16 cts net loss 11083000 vs profit 628000 sales 6517000 vs 126 mln avg shrs 4941000 vs 3926000
africa profit falls in quarter
miller said the sale price may end up higher
indonesian coffee production may fall this year
undertone was very firm with dealers expecting a positive fiscal package tomorrow and if not more good economic news to boost sterling at least confirmation of the bull factors which have bolstered eurosterling and gilt edged bonds lately
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
kirin brewery co ltd knbwt year to january 31
but the additional downside may not be all that great from current levels at this price level the market is very vulnerable to bullish developments oneill added
hayes dana inc 1st qtr net
he said the lower profit was mainly due to losses made by steel tube maker vallourec in which nord est has a 125 pct stake
they take collectively around 94 pct of total australian exports
bankers noted citibank had held up an agreement with chile objecting to proposals for delayed interest payments
under terms of the agreement announced in january lincoln would be acquired by a unit of unicorp which is minority owned by lincoln president alton marshall
margoshes said he does not foresee major us oil firms falling into takeover situations for several years with the exception of possibly amerada hess corp ahc he said most of the majors found partners in the last round of matchmaking which ended two years ago and others restructured to the point that they have become unattractive
the facility consists of 285000 square feet of hangar and shop space
its very difficult for anyone to know which way the debt problem is going and with volcker out of the picture it just adds to the uncertainty one banker said
as major beneficiaries of soft oil prices and with low labor costs taiwanese and korean exporters are well placed to take up the slack
the trust is managed by alex
brokers have been introduced to creeping deregulation over the past three years after legislation passed in 1984 to end restrictive trade practices forced the traditional partnerships to open themselves at first to partial ownership by outside institutions and eventually to full ownership
the bond pays interest at 50 basis points over the london interbank offered rate
denmarks seasonally adjusted unemployment rate fell to 78 pct of the workforce in february from 79 pct in january against 79 pct in february 1986 the national statistics office said
shr loss 13 cts vs loss six cts net loss 14 mln vs loss 635000 revs 403 mln vs 285 mln year shr profit 40 cts vs profit 26 cts net profit 42 mln vs 26 mln revs 1664 mln vs 946 mln note1986 4th qtr and year net reflects dividend requirements of 15 mln dlrs and 33 mln dlrs and charges of 257000 dlrs and 46 mln dlrs respectively which is not accruable or payable because of pre reorganization tax loss carryforwards
the warrants are exercisable from may 19 1987 until april 9 1992
western diplomats and military sources in the area said shelling the platform appeared to be the least provocative act the united states could have taken once it had decided to retaliate for the tanker attack blamed by both the americans and kuwaitis on iran
united will pay pan alberta producers about 50 mln dlrs over the interim period and take at least an average 40 mln cubic feet a day of gas pan alberta said
breslube based in toronto collects used lubricating oils from auto garages car dealers and other businesses and re refines it for resale
but there has to be a clear indication that they are willing to act he said
dividend six marks vs same
eli lilly and co plans to sell its elizabeth arden subsidiary
both issues are non callable for life and are rated aa 1 by moodys investors and aa by standard and poors
buckhorn inc bkn 4th qtr loss
canadian pacific cp seeks buyer for unit
best products co bes 4th qtr jan 31 net
however the bank as an institution can finance the development aspects of the program we will deal with the part of the program that deals with how to put the land to effective use once it has been transferred and how to make the on farm investments that are needed to attain the goal of improving the income level of the beneficiaries arrivillaga said
a borg warner spokeswoman said members of management do not plan to participate in the transaction but they will retain their positions with the company
scholls sale
the group said clevebaco lp bought one mln of its shares from bear stearns and co inc on march 9 at 41 dlrs a share
demand in 1986 rose 109 pct over 1985
keystone camera products corp said it has agreed to be the united states distribution manager for le clip clip on fashion watches
affandi agreed with a bank recommendation that farmers should be free to choose their own crops but he said the government would continue to maintain production targets for strategic commodities such as rice and sugar
terms were not disclosed
dan kaakebeen a spokesman for the dutch salvage firm smit international told by telephone from rotterdam that the vessel was just off the belgian port of zeebrugge with 463 passengers and crew when the accident occurred at 1850 gmt
consumer prices rose 03 pct in february after rises of one pct in january and 05 pct in february 1985
today it was first indicated at 8 1 8 1 4 before easing on news of the tender to 7 13 16 7 8 pct
us officials in washington said the us doubts the fund would be able to fulfil its objectives citing the lack of widespread support
but volume was not particularly heavy
the biggest output rises in the 12 months to end january were 2368 pct in pharmaceuticals and 2212 pct in machinery
we understand that the us position was more inflexible than the one of brazil where current economic and political factors make it difficult to adopt certain positions gaviria told in an interview
it said management will also lease these airborne intensive care units to hospitals and government subdivisions through metropolitan leasing a wholly owned subsidiary of midivest
the bank said the sale by public auction on march 16 was because of a debtors inability to repay an overdue loan
manaspas xuto of thailand chairman of the inra renegotiation conference is holding consultations with a small group of producers and consumers to try to resolve major outstanding issues
he noted that central banks had spent some 10 billion dlrs this week to stabilize the dollar against the yen in the first such test
producers and consumers failed to agree on a quota formula to share the worlds coffee production during international coffee organisation ico talks that ended last week
abbott laboratories 1st qtr net shr 62 cts vs 52 cts
a ministry statistical analysis said while the original accord called for payments of 382 billion dlrs between 1987 and 1989 the new agreement requires debt servicing of 135 billion over the same period
the new york stock exchange said general refractories co had no comment on the activity in its stock
they said new planting of palms is also likely to slow with some 50000 hectares expected to be planted with new trees against 100000 in 1986 although the effects of this reduction will not be felt for about another three years
its 1986 net profit rose to 145 mln us dlrs from 125 mln in 1985
brandman chairman of domino of california inc a los angeles garment maker said he bought the stake for 31 mln dlrs for investment purposes
intl minerals igl buys animal products unit
fees comprise 3 4 pct selling concession and 1 2 pct for management and underwriting
technitrol inc tnl sets quarterly
calendar 1987 production is likely to fall to around 20000 tonnes from 22000 in 1986 as a result of the first quarter reduction he said
feds policy ease may end with 2nd qtr rate cut
gaf said it would make a tender offer following a merger agreement approved by the borg warner board and conditioned on the boards recommendation of the tender offer and merger
asked whether he wanted to see uk interest rates lower he said the two half point cuts this month in banks base lending rates have been appropriate up until now leigh pemberton said he preferred a cautious step by step approach to reducing short term interest rates not least because we have a potential problem with inflation underlying uk inflation was currently around 40 pct one of the highest among industrialised nations he added
notefirst quarter of 1986 does not include restatement from recent acquisitions
skanska will be responsible for the construction and sas international hotels for the management of the hotel which is part of the international exhibition centre complex
federal paper board co inc said its is offering 2800000 shares or 140 mln dlrs of its 2875 cumulative convertible preferred stock at 50 dlrs per share
subsidiaries of john hancock mutual life insurance co told the securities and exchange commission they sold their entire 131 pct stake in price communications corp back to the company
diamond is the latest in a line of us oil companies that have cut its contract or posted prices over the last two days citing weak oil markets
at the end of last year flats in taikoo shing were selling at 1100 dlrs per square foot up by about 20 pct from a year ago said frederick tsang of mansion house securities fe ltd
agriculture minister denis bra kanon said earlier this month 1986 87 cotton output would be a record 213506 tonnes compared with 190000 tonnes in 1985 86
it forecast real growth of three pct for the world economy and four pct for japan by 2000 if the adjustments were made
the facility has a 10 basis point facility fee and there is a 15 basis point maximum cap on the margin
indian countertrade which is being promoted mainly to help narrow the countrys large trade deficit is still insignificant compared with agreements reached by indonesia venezuela and brazil the trade sources said
proposed offerings recently filed with the sec
the minimum acceptance periods for each solicitation is three calendar days for the copper and 10 calendar days for the nickel the mint said
i would think that the debtholders would want to entertain any and all offers for dome gobert said
april 30 end shr loss 13 cts vs shr profit 12 cts net loss 4116000 vs net profit 3672000 revs 611 mln vs 555 mln avg shrs 32263000 vs 31640000 12 months shr loss 86 cts vs shr profit 42 cts net loss 276 mln vs net profit 13 mln revs 1749 mln vs 1893 mln avg shrs 32184000 vs 30938000 note both 1987 and 1986 figures restated to reflect april 21 1987 acquisition of distribution management systems inc accounted for as a pooling of interests
qtly div 11 cts vs 11 cts in prior qtr payable april 10 record march 23
camco inc cam sets quarterly
he thinks the confrontation with brazil could end in a replay of a situation that occurred with argentina in 1984 and 1985
the issue price will be 9818 pct and it will have a life of 12 years 259 days
in february the texas public utilities commission granted gulf states an interim rate increase of 399 mln dlrs contingent upon the utility obtaining a new 250 mln dlr line of credit to pay operating expenses
although the world bank had pioneered the swap market it did not intend to launch new financial instruments just for the sake of innovation rotberg said
premdor inc 4th qtr net
net result included an extraordinary recovery of 731 mln francs from provisions for currency fluctuations and 361 mln francs in depreciation of fixed assets
the government brokers supplies of a 400 mln stg issue of two pct treasury index linked stock due 1992 were exhausted in early trading on the uk government bond market this morning the bank of england said
shr 134 dlrs vs 109 dlrs net 154 mln vs 126 mln sales 3236 mln vs 2402 mln avg shrs 115 mln vs 115 mln year shr 95 cts vs 91 cts net 109 mln vs 9368000 sales 6288 mln vs 5131 mln avg shrs 115 mln vs 103 mln note latest year net cut on mln dlrs by investment tax credit loss
qintex ltd of brisbane said it has arranged for a leading australian financial institution it did not name to provide princeville development corp with the letter of credit required by the terms of qintexs proposed acquisition of princeville
market sources say roasted coffee exports will benefit ugandas economy as they will not be included in the 238 mln 60 kg bag export quota assigned to the country under the latest international coffee agreement
the diplomats said the protests had been received from most corners of the developing and developed world ranging from senegal malaysia and indonesia to brazil argentina canada iceland and norway
the paper launched by private investors was montreals fourth french language newspaper and was aimed at readers with above average incomes and educations
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
most market participants believe that lawson will now foster a further half point interest rate reduction at the time of the budget although one or two said they would not be surprised to see a full point decline at this stage
it is essential that we first reaffirm here our commitment to implementing that plan as scheduled hata said
there can be no assurances that the parties will reach any agreement regarding an acquisition or what price might be offered the statement said
the agency said the september surplus was 14 billion dlrs up from 4681 mln in august and 899 mln a year earlier
indiana federal ifsl 4th qtr net
in any case us officials say president reagan remains firmly opposed to an import fee and a gasoline tax
he described the dollars sharp fall against the yen at the start of the week as a passing incident and added everyone is resolved to support the paris accord questioned about his plan to help the worlds poorest countries chirac said he did not envisage any large scale debt write offs
german banks do not report full operating profit
the big number is the 767 mln dlrs in debt assumption analyst jack kirnan of kidder peabody and co told 
the estimated cost to the polish economy was originally devised several years ago by the institute of national economy an offshoot of the central planning commission
its monthly report said 947 mln tonnes of goods passed through the port last year compared with 926 mln the year before
if midway is acquired each right will entitle its hodler to purchase a number of the acquiring companys common shares having a market value at that time of twice the rights exercise price
they suppose that because kuwait has the ability it will do so the minister said
nazer was quoted by the spa as saying saudi arabias adherence to the accord was shown clearly in the oil market
the retention plan for the 52 top officers will pay an average bonus percentage of 28 pct of salary it said
sosnoff
the energy department study discusses several options to curb reliance on foreign oil but makes no recommendations
citicorp savings proposed to assume two billion dlrs in deposits and other liabilities and to purchase 19 billion dlrs in assets of 50 branch offices of sears savings
ecuador signed four loans from the interamerican development bank iadb totaling 280 mln dlrs the iadb said
the fall in rice production is caused by an outbreak of pests known as wereng or brown plant hoppers in 1986 which largely offset gains in yields
he added that he hoped states had not yet made their mind up for good
they said the biggest was bci holdings 235 billion dlr offering on april 10 1986
it controls stocks strictly and can release less into the consumer market if stocks fall too quickly he said
rule pledged to act against icahn and twa if a violation were found
the stock consolidation is something were discussing but its not definite sand technology president jerry shattner told in an interview
it said process software helps companies monitor industrial processes identifies problems and recommends solutions
us corporate finance asset back market grows
he said csr is convinced the sale was the correct decision in view of the risks associated with the oil business
ecolab ecl starts bid for chemlawn chem 
in any case the exchange rate partly depends on us currency and budgetary policy and the us economy he said
it said the new shares which are convertible into common stock on a share for share basis at the option of the holders at any time represent in the aggregate 25 pct of the equity of hawkeye on a fully diluted basis
drs a warfare systems producer said it would make the transaction through a cash tender offer for all but not less than 51 pct of rospatchs outstanding common stock followed by a merger with rospatch a labels high technology and wood producer at the same purchase price per share
pda engineering said it has temporarily deferred shipmetns of its patran software for ibm computers due to a technical problem with the program
were soon going to be right back where we were in 1973 and 1979 anderson predicted that world oil prices would end 1987 at about 24 dlrs a barrel and continue a gradual climb
usg ara ghent option seaforth 40000 45000 long tons hss 10 days all purposes 9 15 4 try later
that is in fact what has happened since paris monetary analysts said stability has been helped in part by the decision of industrial nations to bury the hatchet and cease to quarrel over short term policy objectives
the lower estimates are supported by the belief that crude runs increased and imports fell
houston lighting and power co a unit of houston industries inc said it will redeem on may 4 at par plus accrued interest about 140 mln dlrs of first mortgage bonds
that is our approach in the negotiations with the soviets and it must be our approach as we look at the american farm program and try to figure out what we should do to make it better shultz told the wheat growers
beghin say declined to specify the amount of sugar it had offered into intervention but said it was below 500000 tonnes
in a separate statement on japan the ec ministers said they deplore the continued aggravation of the imbalance in trade and expect japan to open up its market more the statement added that the ec continued to insist that the japanese government must boost imports and stimulate demand
canterbury press inc year nov 30
the index was down 67 pct from a year earlier
teeco properties lp sets cash distribution
the issue price will be announced no later than wednesday april 15
five groups are bidding for the company and the government has said it will choose cgcts new owner by the end of april
fairchild deal failure seen making japanese wary
dutch plantings are expected to fall to 130000 ha from a record 137600 in 1986 as a new self imposed quota system comes into force a spokesman for centrale suiker the second largest dutch sugar processor said
ladd laddo unit completes acquisition
it was the highest pace for starts since april 1986
the narrowing of the gap between downgrades and upgrades would reflect a calming in takeover frenzy less volatile energy markets and slow but steady economic growth s and p said
rep
usair group inc said it has acquired 2292599 piedmont aviation inc shares about 99 pct on a fully diluted basis from norfolk southern corp nsc the acquisition of piedmont by usair has been approved by the directors of both companies
the company said the loss followed four quarters of modest profits
low sugar prices may attract soviet chinese
synar said the president is prepared to take military action to protect kuwaiti oil tankers but has been unwilling to take less dangerous equally important action to prepare our nation for the next energy crisis reagan said the us military would protect kuwaiti oilers to assure the west of a continuing supply of middle east oil increasingly being threatened by the iranian iraqi war
southern so to take charge on vogtle cost
financial security fssla to sell branch
the workers went on strike may 9 and production has been shut down since then
he added takeovers and mergers had an important role to play in furthering economies of scale integration and more efficient market penetration
im sure theres an end to the expansion but we are doing this to accomplish our goal which is to regain the markets that weve lost to keep our products competitive and to let those particularly the european community who we are convinced are the worst offenders in terms of the export subsidization that we are prepared to continue to do this until we can come to some agreement to put an end to it he said
bellsouth advanced systems a unit of bellsouth corp said it has introduced a private telephone system called bellsouth system 30 offering smaller companies a wide range of advanced telecommunications services
one can never be too optimistic but im cautiously optimistic that we can get an agreement we think were close to a deal ongpin told by telephone
improvements in the us trade balance he said will come about largely from a swing in manufactures trade and present serious adjustment problems for us trading partners western europe where manufactures output and employment have been weak promises to be especially hard hit by the improvement in the us trade balance sprinkel said
baker in an interview on cable news network was asked about such loans after standard and poors corp today downgraded the debt of six major money centre bank holding companies largely because of their heavy loan exposure to developing nations
latest qtr and year includes tax loss carryforwards of 771000 dlrs and 1042000 dlrs respectively and a loss of 613000 dlrs for discontinued operation
banking sources say the high real interest rates on offer now around eight pct for overnight funds have attracted a large influx of speculative foreign capital which is threatening the governments monetary targets
uk may revoke japanese financial licenses
toshiba could be first to feel uk trade anger
traders also expect arab national bank to step up london operations
the us agriculture departments national agricultural statistics services nass said it will change its citrus estimate program for california and arizona starting in 1988
it said the senior debt will bear a 94 pct interest rate and the senior subordinated debt will bear 1015 pct
but since april statistics clearly show that the economy finds itself on a course of growth he said
inland vacuum ivac sets stock split
shares outstanding increased to 39 mln from 278 mln
i dont think its a tax increase is a very good idea and im quite confident that president reagan doesnt think its a very good idea baker said in an interview on cable news networks moneyline television program
the philippine coconut authority said coconut production in the major producing region of bicol might drop by 25 pct to 320000 tonnes if the dry spell continued
excluding the effect of placing brazil on non accrual chemical said its net income would have been 982 mln dlrs or 43 pct below 1986 earnings
scan graphics makes systems that allow users to convert graphic documents such as charts maps and engineering drawings into computer data that can be displayed edited and stored by computer
explosive fabricators inc 1st qtr jan 31 net
taiwans soybeans imports in calendar 1987 are targetted at 181 mln tonnes against an actual 174 mln tonnes imported in 1986 he said
qtly div 34 cts vs 34 cts prior pay may 15 record april 24
nigeria may sign debt rescheduling in september
taiwans stock market plunged a record 7553 points to close at 180308
alitalia said the drop in north american traffic had been due to a general fall in the numbers of american tourists visiting europe caused by fears of terrorism
schlumberger is freedmans second favorite oil service stock
jacobs had earlier considered waging a proxy fight over gillette
dan stevens manager of public and government affairs at texaco said the company hopes to fix the pipeline in five days but that will depend on when the water level of the red river recedes
chrysler corp said it is escalating its war with automotive parts counterfeiters and will use the service of light signatures inc of los angeles
it was approved by the house international finance subcommittee and sent to the full house banking committee which will consider the measure next week
in a interview brazilian coffee institute ibc president jorio dauster urged producers not to panic and said they need to make hard commercial decisions
iran says has better weapons than silkworm
the company said the acquisitions will give it broader distribution of its corporate relocation service and mortgage programs
terms were undisclosed
it said the rights will be distributed on a one for one basis to all shareholders as of october 30 and may be redeemed before they become exercisable at five cents per right
february was the seventh successive month that seasonally adjusted unemployment registered a fall
the balanced budget in 1986 totalled 138005 billion won
ministry spokesman leonardo brito speaking from brasilia told he believed that about five mln tonnes of this years estimated crop of 65 mln tonnes would be lost
a bank of spain spokesman qualified a bank statement announcing an extension of reserve requirements to convertible peseta funds held by banks saying the move applied only to future rises above current balances
pakistani decision will hurt kenyan tea exports
the us house foreign affairs committee voted to ease restrictions on exports that are now kept from shipment to soviet bloc countries but are no longer a threat to us national security
heublein said the sale does not include mcguinnesss calona wines ltd a canadian wine company
dh holmes co ltd hlme sets payout
three months edged up to around 6 9 16 5 16 pct from 6 7 16 1 4 pct while six months was quoted a touch firmer by some banks at seven 6 3 4 pct
1985 restated
caesars world inc caw said its directors unanimously approved a recapitalization plan under which stockholders will get a cash distribution of 25 dlrs per share via a one time special cash dividend and will retain their common stock ownership in caesars world
but the officials said they expect the ec to allow us plants to continue shipping meat through the end of the year provided they submit a plant improvement program with the us agriculture department
ziegler co inc zegl sets quarterly
us japan trade war not in uks interest lawson
dome spokesman david annesley said in new york that transcanadas announcement could be seen as an attempt to fix the bidding price for dome and an effort to preclude other possible buyers from making an offer
the capital gains tax retirement relief limit would now be set at 125000 stg
flowers said losses suffered in its west texas operations and in five plants acquired at the start of the third quarter from cfs staley continental and wolf baking co severely hurt results
i think the paris agreement represents evidence that international economic policy co ordination is alive and well baker said
market operators were able to evaluate the situation in the gulf on the basis of confirmed fact and finding it less serious than first thought took profits taking prices lower analysts and traders said
the move brings the price the company will pay for the us benchmark grade west texas intermediate and west texas sour to 19 dlrs a barrel
a new agreement between the imf and zaire would pave the way for another debt rescheduling probably at the next meeting of the paris club of western creditor nations diplomats said
against this exchequer transactions would add a net 535 mln stg
mim holdings ltd mimas a substantial shareholder in idc has agreed it will not buy any additional idc shares until february seven and has granted idc acquisition a right of first refusal on any idc shares it sells during that period the company said
the bonds are convertible into ordinary shares of the bell group ltd at any time with the issue price a premium in the range of 20 to 25 pct above the market price of the ordinary shares at the date of issue of the bonds it said
tanzania will now have until april 1 1997 to pay back the credits some of which had originally fallen due in 1979 a ministry statement said
american nursery products ansy 3rd qtr net
sayad submitted a new package calling for a 90 day prices and a wage freeze but met opposition from sarney and funaro
the assets being acquired consist mostly of distribution rights to films valued at over one mln dlrs the company said
in january the current account surplus provisionally narrowed to 49 billion marks from 85 billion in december
new york cocoa traders reacted with caution to todays developments at the international cocoa organization talks in london saying there is still time for negotiations to break down
emphasising the impact of mortgage rates on consumer prices lewis said a one point cut in building society rates would reduce inflation in britain by about 04 pct
a minority of ec ministers opposed to an oils and fats tax on imported and domestically produced oils and marine fats succeeded in blocking the idea during this years annual ec price fixing
alliance financial corp alflo 3rd qtr net
the energy deficit was reduced to 65 billion francs from eight billion in january while industrial trade showed a surplus of 14 billion francs against only 800 mln francs in january
usda gave detailed breakdowns for the 1986 87 and 1987 88 seasons as follows in thousand tonnes unless stated a firm sales to a declared destination
net profit 33 mln vs 253 mln
unadjusted the february deficit was 24 billion francs and the two month cumulative deficit 81 billion the ministry said in a statement
short term yen interest rates seen falling soon
for all of this it seems unlikely that bakers status in washington will diminish because of the market fall
usair they said is the least likely to be bought
rhm currently has a 229 pct stake in purchases and acceptances
johns and 35 kilometers southeast of hibernia field was discovered by petro canada in 1984
sudan its treasury depleted by nearly four years of civil war in the south and the aftermath of the devastating 1984 85 drought has a budget deficit of 286 billion pounds this fiscal year
refinery crude runs in the four weeks were 1192 mln bpd up 10 pct from 1180 mln a year earlier it said
britoil plcs btoll exploration expenditure for the uk in 1987 was likely to be only about a third of the level in 1986 though overseas expenditure would remain approximately the same chief executive david walker said
however he said new wage agreements in west germany had raised inflation expectations which would put upward pressure on interest rates in the longer term
traditionally notes or private placements as they were also known were medium term instruments denominated in 50000 francs and placed largely with institutional investors
arco arc says net to cover dividend payout
however the figures exclude exchanges with the eastern bloc paid in non convertible indian rupees the sources said
cameron smail said commercial union decided on having the financing denominated in ecus because it is more stable than most major currencies and because it would give greater flexibility in its financings as it expands operations abroad
it will use the proceeds from the offering and a 550 mln dlr private placement of first mortgage notes for the purchase
differentials were fixed as follows country differential stg tonne malaysia 0 brazil 55 ivory coast 67 cameroun 77 nigeria 120 togo 130 ghana 137 nigerias differential is on landed weight terms
krupp added that some areas of the mechanical engineering business achieved notable growth rates and acquisitions had underpinned machinery and component activities
nobels bofors to sell its singapore holding
the investment banking firm morgan stanley has been retained to advise pacific lighting on the disposition of the land development operations
its implied senior debt rating is ccc
monier says britains redland may bid for it
investor has five pct of sage drilling sage 
you just cant do that
rafidains area manager adnan abdul karim al azzawi told the branch had now registered its capital at the higher level but did not say how long it would take to pay it in
at least one company has expressed interest and negotiations are not yet over banking sources said
another problem area delegates said was the question of price differentials for different origins of cocoa bought into the buffer stock by which the buffer stock manager could fairly compare relative prices of different cocoas offered to him
wang chao ming vice chairman of the council for economic planning and development told taiwan would further reduce import tariffs on 1700 products sometime in the second half of this year
the agreement subject to shareholder approval is expected to close by the end of the year the company said
marris felt that a major impetus for the dollars latest weakness was the loss of credibility that central banks suffered when they failed to prevent the dollar from falling below 150 yen the floor that the market believes was set as part of the g 7 paris agreement in february
sri lanka gets usda approval for wheat price
morgan olmstead kennedy and gardner capital corp said michael fusco has been named president of its securities brokerage and investment banking firm morgan olmstead kennedy and gardner inc
air canada to comment on gelco gec unit report
west german economists see room for further cuts in leading west german rates if the dollar resumes its decline
1987 nine mths net includes after tax gain of 73 mln dlrs or 42 cts a share on sale of remaining interest in the henley group inc and other related transactions which was partly offset by an after tax loss of 30 mln dlrs ot 17 cts a share for repurchase of high coupon bonds
the iea said that initial estimates indicate that company stocks fell by 12 mln bpd in oecd countries in the first quarter of the year
hunter chase manhattan area executive for europe africa and the middle east said at a news conference that plans to broaden the banks activities on the italian market have not been finalised however
proposed offerings recently filed with the sec
he said the problem must be approached on many fronts and focus most strongly on us and overseas fiscal and monetary policies to foster economic growth us competitiveness and the establishment of a level playing field for trade
investors are hungry for high grade debt issued by household names agreed one corporate bond trader
the acquisition is subject to obtaining approvals waivers and forbearances from the federal home loan bank board and other government approvals
fremont general corp frmi 4th qtr oper net
cumulative shipments for the first five months of the october september wheat year were 612 mln tonnes as against 654 mln a year earlier the official said
charge against earnings for loan losses 1743000 dlrs vs 2743000 dlrs and net chargeoffs 1636000 dlrs vs 3865000 dlrs
westpac launched the facility early this month at 200 mln dlrs but soon reduced it to 100 mln dlrs and amended the terms due to the markets cool response
qtly div six cts vs six cts prior pay april two record march 18
japan wants governments to buy its t bills
prior qtr and year figures include gain on securities sales of 39 mln dlrs
it said it is currently in the process of restructuring by reducing expenses and streamlining operations and has cut expenses from 50000 dlrs to less than 15000 dlrs a month
the february increase was less than janauarys 04 pct increase but slightly above the average for the later months of 1986
lilly industrial coatings inc licia 1st qtr
novell inc said the dividend to effect its previously announced two for one stock split will be distributed april 13
im trying to write legislation that will be signed by the president rep
the package also includes a 25 mln swiss franc 10 year credit agreement with interest at 4 7 8 pct underwritten by swiss volksbank dg said
if there is a benefit from a 23 pct fall in wall street its some sort of resistance to inflation worldwide said geoffrey dennis of brokers james capel echoing comments from other london and tokyo analysts
the statement added that due to technical market promotion and energetic sales by chile and peru the stock position at the end of the year remained reasonable
they have no choice to seek out the best possible offer
in this context he welcomed a decision by the government to increase the scope of tax cuts due in 1988
fernandez said an imf mission would visit here in july or august to review performance in the january june period
however countertrade deals still make up only a small part of indias total trading and are likely to account for less than eight pct of the estimated 1853 billion dlrs in trade during the nine months ended december the sources said
the federal reserve entered the us government securities market to arrange one billion dlrs of customer repurchase agreements a fed spokesman said
the venice summit is scheduled for june
fed adds reserves via customer repurchases
caroline levy of ef hutton also believes something could be going on with wendys
that is 73 basis points more than the yield of comparable treasury securities
coopervision inc eye 1st qtr jan 31 net
those us brokers companies have the expertise
the shortfall could reach two billion dollars in 1988 and would be only slightly less this year he said
the company said it sold dublin calif based plant cell research to montedision spa of milan italy and arco seed co to uf genetics of hollister calif
tata steel a trend setter on the bombay stock exchange opened today higher at 1040 rupees against yesterdays closing of 101250 rupees
belgian budget minister guy verhofstadt has proposed a plan to sell off shares in several state owned enterprises including national airline sabena and the postal and telecommunications authority government sources said
shr loss nine cts net loss 14 mln revs 630118 dlrs notedue to change in fiscal year prior 4th qth and year cannot be presented on comparable basis
lead underwriter mcdonald and co investments inc mdd said an offering of 900000 shares of action auto rental inc is underway priced at 12 dlrs per share
advanced institutional aimso year loss
mr
linotype is a supplier of type and graphics composition systems
an outboard marine spokesman would not comment on the rumor
japanese buyers pay saudi arabia a price notified by petromin each month
g 24 says debt crisis entering new phase
the company earned 330 dlrs a share in 1986
the united states and france backed by the international monetary fund want the seven to agree on ranges or norms for a limited number of economic objectives such as growth inflation monetary conditions trade balances and current account balances
the bank of spain suspended its daily money market assistance obliging borrowers to take funds from the second window where on wednesday rates were raised to 16 pct compared with 14 pct for normal overnight funds
the combined companies to be called broad vogt and conant inc will be the largest structural steel erection company in the us combined sales of the two operations were more than 40 mln dlrs in 1986
armen estimated the upturn in the chemical business could last as long as four or five years provided the us economy continues its modest rate of growth
it said the remaining owners are privately held petroleum companies
china has added 90000 tonnes of us wheat to its purchases for delivery in the 1987 88 season and cancelled 30000 tonnes of wheat purchases for delivery in the 1986 87 season the us agriculture department said
exploration and evaluation spending in 1986 fell to 1877 mln dlrs from 2635 mln while investment in property and plant rose to 37425 mln from 35394 mln a year earlier
the existing buffer stock of about 100000 tonnes of cocoa was frozen with a funds balance of 250 mln dlrs
rep
indias oilseed output is expected to rise to 1225 mln tonnes in 1986 87 ending october up on 1115 mln in 1985 86 but down from 1295 mln harvested in 1984 85 the agriculture ministrys 1986 87 report said
he said he does not expect the dollar to collapse and thinks interest rates are likely to fall back later this year
union pacific corp said it will enter a 50 50 partnership with petroles de venezuela pdvsa to own and operate union pacifics 160000 barrel per day corpus christi texas oil refinery
during the week ended wednesday 45 pct of net discount window borrowings were made by the smallest banks with 30 pct by the 14 large money center banks and 25 pct by large regional institutions
the competition is stiff not only from other foreign investors but from the brokerage houses and us oil companies he said
tenneco is a gargantuan enterprise with seven billion dlrs in long term debt and preferred stock outstanding he said the buyer would also have to deal with the intractable problems tenneco faces with its farm equipment unit and energy businesses
norsk hydro has also applied for an undisclosed share in a single exploration license in which us oil company tenneco has already been assigned operatorship company spokesman bjoern tretvoll said
last week taft rejected a 145 dlr a share bid by theta an investment group headed by tafts vice chairman dudley taft
many countries fear that what they have gained in months of arduous debt negotiations they can lose at a stroke with a one point rise in interest rates one official here said
it said the plans terms would violate dividend convenants in the rated debts indentures and likely force refinancing of those issues
they mark an uncoupling of movements in us and foreign interest rates salomon bros inc said in a recent study
japan also agreed to consider stimulative measures after the japanese budget was made final
william reynolds told shareholders he would be presenting an alternative to the 100 dlrs a share takeover offer within a week
shr 21 cts vs eight cts net 6597000 vs 2602000 revs 564 mln vs 232 mln 1st half shr 57 cts vs 32 cts net 176 mln vs 9810000 revs 1377 mln vs 760 mln
compromise on issues blocking an agreement was reached at a united nations conference on an accord to replace the current pact which expires in october
on friday night exporters said they had heard of the closure from ibc officials but the officials could not at the time be reached for confirmation
he said exporter registrations dropped from an average weekly 500 tonnes in march to 45 tonnes last week with exports in coffee year 1986 87 ending september forecast to total about 8000 tonnes against 48000 in 1985 86
the electricity company which supplies about 90 pct of south africas power said in its annual report that it failed to attract any foreign loans in 1986 but it was confident of meeting its funding requirements this year despite available finance from abroad remaining restricted
malaysias benchmark tapis blend fetched above 18 dlrs bbl this year against a low of 1050 dlrs bbl in july they said
the dutch spokesman added the weekly export tender policy and prices are squeezing the european sugar industry and this is the only way in which they can really register their protest
the fed said that business loans including acceptances fell 897 mln dlrs to 28123 billion dlrs
outboard now has 17 mln shares outstanding
in 1980 the fcc disqualified rko as licensee of wnac tv in boston citing anti competitive trade practices and inaccurate financial reporting to the agency causing renewals previously granted to rko in new york for wor and los angeles for khj to be denied
shiv shanker told reporters last month
the department said the year on year rise in producer prices in march was a provisional 37 pct compared with a provisional 42 pct increase in the year to end february
toshiba information systems uk ltd a toshiba subsidiary said yesterday it planned to enter the uk market under the toshiba own brand name and had applied for government approval to do so
treasury secretary baker declines comment on g 6
unocal said its worldwide natural gas reserves were 607 billion cubic feet in 1986 compared to 1985s 619 billion
samuel alberto yohai director of the foreign trade institute incomex said private businessmen should not become what he called mental hostages to coffee traditionally colombias major export
the payment date is april 30 and there will be a short first coupon period
the forecast was based on average exchange rate estimates of 160 yen to the dollar in 1986 87 and 155 yen in 1987 88
finance ministers from seven major industrialized nations agreed on the need to stabilize currencies at current levels but said more action was needed to reduce trade imbalances and sustain economic growth
the sideways price pattern in the june contract with smaller and smaller price ranges has formed a bull flag on price charts technically oriented analysts said
it said all the shares were bought between dec
the measures to take effect by june were designed to lift restrictions on foreign currency operations in line with deregulation in the banking industry he said in a telephone interview
nippon life japans largest life insurer also plans to set up a wholly owned investment unit nissei international america in new york next month and subsidiaries in canada singapore the cayman islands and jersey this year he said
kaiser aluminum and chemical corp said it is increasing prices for a broad range of common alloy coil flat sheet and plate products
iadb plans to match 1986 lending level
alcoa officials acknowledged the possibility that they may have a position in the off exchange aluminum options market but declined specific comment on trade speculation that the company is holding a large outstanding position
he said the new move was intended to balance trade between taiwan and its trading partners
the ec executive commission was asked by representatives of member states on friday to propose a renunciation of some ec pledges to the world trade body gatt unless there are adequate and early measures to open the japanese market such a renunciation would be the first step to imposing stiff increases in duties or quantitative limits on japanese exports
the treasury said it took the action because it felt that when congress passed the comprehensive south african sanctions bill last fall over president reagans veto it had not intended to hurt us industry
a and p gap sets higher capital spending
conference chairman manaspas xuto said legal drafting of the new pact will begin this week and it is expected to be formally adopted by some 40 countries on march 20
they creditors asked for the maximum amount and we offered the minimum said one banking source reacting to reports from london that creditors were hoping for larger repayments
the fire which started wednesday and burned for more than 24 hours destroyed the mines three year old conveyor system officials said
the three shell vessels are lakeshell eastern shell and northern shell which range in size from 6000 to 10000 tonnes shell said
concepcion said the philippines would address the issues of trade in tropical fruit and the improvement of gatt machinery to make it more responsive
he said the reagan administration would be reviewing the coffee policy situation following the collapse of the london talks but nobody is proposing we change our position however other us government officials involved in coffee policy said they are bracing for a diplomatic and coffee market offensive from producer countries led by brazil and colombia to soften the consumer position
mts acquisition corps 28 dlr per share offering price for caesars world inc is thought to be much too low and is likely to attract other suitors for the hotel casino company industry analysts said
oecd officials said the agreement was based on a provisional accord reached in january subject to ratification by member governments
perus centromin says no copper force majeure
we can support extension of the sixth agreement he said
it says each notes prospectus must contain the following seven points the precise terms of the issue details of the company performance if it is more than six months since the last annual report naming of all guarantors the source of the information details of ratings insofar as they have been made for equity linked notes details of where the companys shares are listed and price high and lows over at least the last three years
cojuangco said the coconut industry investment fund ciif and 14 mln farmers were the rightful owners of the shares
poehl said however that japan had not yet fulfilled its pledges for economic stimulation
but he added if oil prices turn lower there will be a lot of pressure on phillips phillips shares fell as low as eight dlrs a share over the last 52 weeks with a 1987 low of 11 3 4 dlrs in 1987
eager technology acquires nuclad
meeting in closed session the house ways and means trade subcommittee failed to resolve one of the most sensitive issues in the bill whether they will force major foreign trading partners to severely cut their trade surpluses with the united states
its a hodge podge of non related businesses he said
it said its previously announced engagement of salomon inc sb to evaluate alternatives to enhance shareholder values including the possible sale of american savings is still being actively pursued
britain and australia also have plans to mint gold bullion coins the analysts said
oil and gas are found in sand layers at the depth of 2300 metres within the baong formation he said
i wouldnt have anything against getting rid of the system the analyst said adding banks were capable of regulating the volume of new issues themselves
it said initial mine output is expected to be about 150 tons of ore daily
it said the settlement arrangement calls for the company to establish a cash settlement fund of 355 mln dlrs which would be distributed to the bondholders after deductions for attorneys fees
universal furniture ltd ufurfo 3rd qtr net
pier 1 imports inc said its board declared a three for two split of its common stock and its 25 cents preferred stock and declared a regular quarterly dividend of two cents per share on the pre split shares of common stock outstanding
renaissance energy ltd year net
service resources corps chas
last year it was well into the year before we offered it
the department said outstanding wheat sales to china for the current season amount to 90000 tonnes and sales for delivery in the 1987 88 season amount to 910000 tonnes
it said courtaulds has privately agreed to purchase a majority of martins common from trusts established by julius hermes for 20 dlrs a share
brazils labour troubles eased a little today as the authorities announced they were withdrawing troops from the countrys main oil installations occupied three days ago
gencorp inc said the decision by general partners comprised of afg industries and wagner and brown to end its hostile offer for the company supports its belief that the buy back offer it announced yesterday was a financially superior alternative gencorp said it would annouce details of its plans to buy back 54 pct of its stock for 16 billion dlrs or 130 dlrs a share later this week
nor do we see any need to plow resources into a technology we may not have if we can link up profitably with someone who is already there he said carbide has extended its catalyst business that way and is now extending its specialty chemicals business in the same way
the bond is available in denominations of 1000 10000 and 250000 ecu and will be listed in luxembourg
but they also said that if money supply growth remains weak as this weeks unexpected eight billion dlr m 1 decline suggests it may this could influence the fed to loosen its credit reins and move toward a more accommodative monetary policy
options business has been hurt by lack of liquidity from pension funds which currently are forbidden to invest in these instruments
one even showed interest in buying 45 mln dlrs worth of notes he said
usair spokesman david shipley also declined comment on piedmont aviation inc pie usair has offered 71 dlrs cash per share for half of piedmonts stock and 73 dlrs in its own stock for the balance
dealers said federal funds were trading at 6 1 8 pct when the fed began its temporary and indirect supply of reserves to the banking system
us selling 128 billion dlrs of 3 and 6 mo bills march 23 to pay down 2875 billion dlrs
current half net includes 2051000 dlr pretax gain 2051000 dlrs from change in accounting
electrohome ltd said it agreed to sell certain assets of the computer service sector of its aabex service division to canadian general electric co ltd cgeto terms were not disclosed
taiwan has over one trillion taiwan dlrs in savings official statistics show
the company also said it set up a venture with holland systems to develop and market an integrated line of information management products and services
margins are unchanged for gold copper and aluminum contracts it said
toshiba corp tsbat will reduce april 256k dram production by 1667 pct to just over four mln and is considering ways to boost imports a company official said
the acquisition is subject to certain conditions such as satisfactory results of due diligence investigations the company said
he did not elaborate on the quota arrangements but did say ecuador would notify opec by telex that venezuela would be lending it a certain amount over so many days
the bundesbank wants to keep rates around 380 pct one dealer said
shr 39 cts vs 39 cts net 244 mln vs 238 mln revs 4259 mln vs 3962 mln nine mths shr 123 dlrs vs 104 dlrs net 763 mln vs 641 mln revs 126 billion vs 112 billion note net adjusted to account for the recent 2 for 1 split of the companys common
analysts questioned this explanation however arguing that the companies did not need government approval to complete the transaction
he said six ships were idle abroad in the netherlands spain venezuela france and south africa
the new figures are considered a major disappointment to the poorest countries
call money and period rates were barely changed in the week
the selling concession is 1 1 2 pct while management and underwriting each pay 1 2 pct
s and p downgraded manufacturers hanovers senior debt to a from a plus subordinated debt to a minus from a and preferred stock to bbb plus from a minus but affirmed its a 1 commercial paper
listing will be in luxembourg
gross proven and probable reserves of crude oil and natural gas liquiids 184 mln barrels off 76 pct from a year before
a price of around 15 dlrs a share would be considered fairly attractive annesley said
atorino said his decision reflected mainly non operating factors and a recent gain in the share price
the us agriculture department increased its estimate of 1986 87 grain purchases by the soviet union to 28 mln tonnes up two mln tonnes from last month
promac which produces measurement and regulating equipment has a work force of 50 and had 1986 turnover of five mln guilders an internatio spokesman said
hospital staffing services hssi 1st qtr net
a cyacq spokesman said the new conditional tender price would be all cash
after a number of construction delays unit one went into operation in may 1985 and unit two went on line in march last year
asked about the prospect of a priority for agriculture in the negotiations he said one has to be politically realistic if there is any chance of getting it agricultural trade reform done in two to three years its going to have to be as part of a larger package
gosper said oil companies would be under intense pressure in 1987 because of forecast slow economic growth
usda said government outlays to rice farmers in 1987 are expected to reach 403 dlrs per acre planted followed by corn at 135 dlrs per planted acre
the three cyclops directors were replaced by dixons appointees on march 17 under an agreement reached between the two companies
it said assays from zone one averaged 0809 ounces of gold a ton over a 40 foot section with an average width of 626 feet
he declined to reveal the amount of the proposal citing a confidentiality agreement between the two companies
uk money market shortage forecast revised down
carney also said canadian companies were being asked to exercise prudence in the us market and both countries were considering establishing a joint commission to study the growing steel problem
the lawsuit seeks one billion dlrs in actual damages and one billion in punitive damages from coastal
peoples savings bank pebw raises quarterly
the 200 mln stg commercial paper program will include a dollar option county natwest said
officials at national train company enafer headquarters in lima the peruvian capital declined to comment on when train traffic would be restored to cobriza
this occurred against a backdrop of uncertainty over the course of us interest rates for the intermediate term and predictions by a number of economists that treasury yields would rise in the second half of the year the sources noted
bundesbank dealers could easily have said we are not selling any treasury bills or were not selling them in this amount he said
payment date is april 2 1992
the conference which began monday is seen as the last effort to adopt an accord to replace the current one which expires in october
avnet inc avt files for debenture offering
moreover cost increases associated with the in service delay of the 41 pct owned nine mile unit 2 from september 1987 to early 1988 along with prospective delays are unlikely to be recovered under the cost settlement agreement for the nuclear unit moodys noted
timely rains will be needed in the next several weeks as winter grains advance through the critical reproductive phase the agency said
but it was unclear how such cooperation was being arranged and how frequent consultations between central banks were
shr 100 dlr vs 34 cts net 169 mln vs 5696000 revs 3713 mln vs 3032 mln avg shrs 169 mln vs 163 mln nine mths shr 355 dlrs vs 166 dlrs net 593 mln vs 271 mln revs 102 billion vs 9128 mln avg shrs 167 mln vs 163 mln
oper shr profit 34 cts vs loss 78 cts oper net profit 7434000 vs loss 170 mln revs 2012 mln vs 1717 mln note year ago oper exludes gain on sale of businesses of 1396 mln
the other core firms are mitsubishi corp mittt mitsui and co mitst sumitomo corp sumtt matsushita electric industrial co mct toyota motor corp toyot c itoh and co cittt and pacific telesis international inc watanabe said that his latest proposal represented his final effort
total futures and options turnover on the london international financial futures exchange liffe fell slightly during february although daily average eurodollar volume set a new record liffe said today
the group gave no reason for the sales
president jaime lusinchi defended the 203 billion dlr debt rescheduling accord his government recently signed saying it will open new credit flows and bring needed foreign investment to venezuela
bearings inc ber 1st qtr net
following mondays record fall in wall street stock prices money market rates fell sharply on tuesday as investors ploughed proceeds into short term instruments and the federal reserve said it is prepared to provide liquidity to support the economy and the financial system
fed adds reserves via customer repurchases
the boycott legislation now goes to the upper house for formal ratification later this week parliamentarians said
in particular short term prime interest rates which had gone over 40 pct in 1985 are now down to less than 10 pct he said
public service enterprise peg two months net
these arrangements confirm south africas continued willingness to maintain good relations with its foreign creditors and to meet its foreign commitments in a orderly way du plessis told a news conference
indonesia pressing for compromise over coffee
among the provisions the bill would reduce the threshold for notifying the securities and exchange commission that a investor or group has acquired a percentage of stock in a company to three pct from the current five pct threshold within 10 days proxmire said
treasurys baker says there has been no change in us policy on dollar
oper shr profit 60 cts vs loss 55 cts oper net profit 928000 vs loss 88000 revs 487 mln vs 397 mln avg shrs 37 mln vs 15 mln year oper shr loss 117 dlrs vs loss 60 cts oper net profit 2537000 vs profit 587000 revs 1788 mln vs 1176 mln note per share figures come after preferred dividends
nippon light metal continues aluminium output cut
the bond will have a maturity of 10 years with repayment in the second five year period in equal yearly instalments
chinas first securities market opened last year in the northeast city of shenyang and since then others have opened in shanghai peking and harbin
long negotiations to reschedule some debt are now producing results
comtech inc cmtl 2nd qtr jan 31 net
the payment date is may 15
the department said advances on credit cards rose by 10 pct between the latest two three month periods
the company said in the first quarter ended january 31m it completed the divestiture of its health maintenance organization operations to travelers corp tic sold its whittar steel strip operations to dofascoxinc and sold its equity investment in bertram trojan inc to an affiliate of investcorp the company said it has entered into definitive agreements to sell whittaker general medical corp bennes marrel sa of france and juster steel corp as well
dutch industrial production falls 64 pct in april
giant food inc gfsa 4th qtr feb 28 net
yugoslav february inflation rises 72 pct
but he said there were no incidents
national distillers dr to sell spirits unit
final div 825p making 1175p vs 11p
profit after net financial items 500 mln crowns vs 359 mln sales 1090 billion crowns vs 1072 billion proposed dividend 1250 crowns vs 1050 crowns
six months to end december shr 326p vs 223p div 50p vs 40p pre tax profit 376 mln stg vs 260 mln turnover 883 mln vs 686 mln tax 133 mln vs 94 mln note company full name is glaxo holdings plc glxol trading profit 338 mln vs 233 mln share of profits of associates 14 mln vs seven mln investment income less interest payable 24 mln vs 20 mln profit after tax 243 mln vs 166 mln minority interests two mln vs one mln extraordianry credit eight mln vs nil turnover includes continuing activities 875 mln vs 647 mln discontinued activities eight mln vs 39 mln uk 111 mln vs 91 mln europe 299 mln vs 218 mln north america 334 mln vs 229 mln central and south america 21 mln vs 20 mln africa and middle east 29 mln vs 23 mln south east asia and far east 57 mln vs 47 mln australasia 24 mln vs 19 mln anti peptic ulcerants 414 mln vs 285 mln systemic antibiotics 112 mln vs 82 mln respiratory system 183 mln vs 141 mln
american electric power cos indiana and michigan electric co said on june one it will redeem 64 mln dlrs principal amount of its 80 mln dlrs of 11 3 8 pct first mortgage bonds due 1990 at par
herrhausen said deutsche had taken part in the recent capital increase of morgan grenfell group plc but had no plans to raise its 44 pct share in morgan grenfell
nigers structural adjustment program supported by a 60 mln dlr ida loan and a 20 mln dlr african facility loan hopes to aid public spending controls support pricing reforms and encourage private sector competition the bank said
vws audi says profit fell around 50 pct in 1986
the american pork congress kicks off tomorrow march 3 in indianapolis with 160 of the nations pork producers from 44 member states determining industry positions on a number of issues according to the national pork producers council nppc
the 30 inch main underground line can transport over 300000 barrels daily
in addition cascade said it was granted an option to purchase all the assets including the plant and equipment located in france
moodys assigns eurobond ratings
the transaction is subject to approval by the montreal and vancouver stock exchange and the arrangement of financing by june 15
the deal is fully fungible with the 125 mln dlr zero coupon deal on the same terms issued for the authority early last month hambros said
federated finl savings fedf initial payout
on june 2 the central bank froze overseas borrowings of local and foreign banks and cut the limit on central bank purchases of forward us dollars from banks to 40 pct from 90 pct of the value of a contract
the payment date is may 13 and there will be a long first coupon period
shr loss 42 cts vs loss 56 cts net loss 596354 vs loss 795009 revs 3818258 vs 2070772
this action is required as we bring our finished goods inventory and inventory in our distribution channels down to acceptable levels it explained
philippines social security to buy san miguel shrs
metropolitan said the offer will be made no later than october 27
it said the bonds will be convertible into alza common stock at an expected premium of between 17 and 22 pct of the share price on the pricing date
oper shr 25 cts vs 25 cts oper net 6322000 vs 4660000 revs 1891 mln vs 1747 mln avg shrs 235 mn vs 171 mln year oper shr 104 dlrs vs 14 cts oper net 21929000 vs 3629000 revs 7602 mln vs 6748 mln avg shrs 205 mln vs 171 mln note qtr shr and net exclude tax gain of 4573000 dlrs or 17 cts share versus gain of 17259000 dlrs or 102 dlrs share year shr and net exclude tax gain of 15992000 dlrs or 78 cts share versus gain of 18042000 dlrs or 106 dlrs share
house panel wants pentagon manage us stockpile
microtels shareholders include norfolk southern corp nsc m a com inc mai centel corp cnt alltel corp at and ef hutton group inc efh
today wendys hit a high of 13 3 8 before dropping back to 12 3 8 up 5 8 in heavy trading
the quota on juice may be harder to eliminate because imports might replace domestic produced juice us and japanese officials have said
shr 477 dlrs vs 165 dlrs net 613 mln vs 211 mln revs 3129 mln vs 2915 mln nine mths shr 951 dlrs vs 498 dlrs net 1223 mln vs 639 mln revs 9504 mln vs 8818 mln note 1987 net in both periods includes gains of 242 mln dlrs or 188 dlrs a share from sale of interest in detroit cellular telephone company and 61 mln dlrs or 47 cts a share from sale of interest in sportschannel cable programing network
the reserves are managed by the central bank and deposited at about 170 leading banks in the us japan britain canada and singapore
the company said it is anticipated the notes will be offered this week through underwriters led by first boston corp
this inflow of funds into the stock exchange occurring also in other countries may continue he said
the interest rate will always be 05 points above that charged to commercial banks by the national bank of hungary for loans exceeding one year
sainsburys says it taking control of shaws supermarkets for 30 dlrs a share
coleco said it changed from a single product company to a more diversified organization through four major acquisitions last year
mellon said its primary capital ratio at the end of the first quarter will be in line with the end 1986 figure of 723 pct well in excess of regulatory guidelines
the charges carry a maximum 50000 dlr fine on each count
qtly div 12 1 2 cts vs 12 1 2 cts prior qtr pay 20 may record 20 april
we want to see what the offer is completely and understand it fully and then fashion our response the spokesman said
but there are lot of people out there to do business with
but delegates said the latter would only be considered if the worlds four major exporters australia brazil cuba and the european community can resolve differences over how prices can best be supported and how to share the world todays special session was called because the us earlier indicated it would only be able to pay 56 pct of its share of the iso budget
the errors and omissions account left a surplus of 840 mln dlrs in february against deficits of 220 mln in january and 25 mln in february 1986
in addition on june 25 the gabelli group proposed to acquire all of di giorgios common shares for a combination of 20 dlrs per share in cash a subordinated note with a face value of eight dlrs and one common share of the post buyout company
a spokesman for hitachi ltd hitt said the firms reduced output of 256 kilobit dynamic random access memory 256k dram was unrelated to mitis efforts to ward off the trade sanctions
relations between sarney and the business community have at times been strained and the existence of these tensions pointed up the importance of the meeting
west german banks rarely raise dividends unless they are sure they can maintain the increased payout in subsequent years preferring to use bonuses for one of profits
the joint venture will introduce various financial products to the customer base of mitsui and its group of companies the company said
anglo american gold investment co ltd aagiy 
the idea was to suggest that opecs agreement would not hold and this caused some customers to hold back purchases of opec oil and resort to destocking to meet their needs lukman said
the prepayments although modest were not apparently something that the philippine negotiators wanted to dwell upon as they sought to portray their 17 year rescheduling agreement as better than mexicos
1987 qtr and nine mths includes gain 105 mln dlrs and 332 mln dlrs respectively from utilization of net operating loss carryforwards
lyng said the us put high priority on talks on 12 farm products named in us complaints against japan to the general agreement on tariffs and trade gatt last year as well as on beef citrus products and rice
union planters corp upcmo 1st qtr net
the company said that each share of third national common will be exchanged for 406 shares of its common
brennan said sales of womens sportswear were also excellent
moss rosenberg verft of stavanger has been awarded a contract to convert the the drilling platform west vision to a floating production platform
calvet indicated last december he expected citroens 1986 profit to be between 250 and 500 million francs
banco di roma london branch has arranged a 200 mln dlr euro certificate of deposit program swiss bank corporation international ltd said as sole dealer
genex said as part of the transaction it has signed an emplopyment agreement for a senior executive it did not name to become president and chief executive officer of genex at the end of march on completion of his obligations to his current employer
corn export inspection guesses ranged from 400 to 440 mln bushels for the week ended april 9 compared up 466 mln inspected a week earlier and 152 mln in the year ago week
inflation for the 12 months ending february 1987 was 255 pct compared to 130 pct for the 12 months ending february 1986
there was evidence deficits as a pct of gross national product were declining and would continue to drop he said
thomas noted the rise in m0 had been kept in check despite buoyant retail sales in february advancing an adjusted 22 pct after a fall of the same size in january
buenos aires maize 104304 wheat 14330
strenger management board chairman of bayer ag baygf told a news conference at the hanover trade fair the main dangers were stagnation in world trade the lower dollar as well as crude oil and commodity prices
the bonds bear a 7 1 2 pct coupon and were priced at 99515 to yield 35 basis points more than comparable treasury securities
second half sales are expected to be stronger based on a return to a more traditional seasonal shipping pattern in which retailers order and stock conservatively early in the year and time large shipments for the second half it said
norfolk owns about 20 pct of piedmont and opened the bidding when it said it would propose a takeover of piedmont
brown and co incs rcbi magic insurance group unit
plessey plyll wins 100 mln dlr us phone order
the issue is removed from creditwatch where it was placed with negative implications in january after loral said it planned to acquire goodyear aerospace corp for 640 mln dlrs
merrill to get 30 mln dlr fee in borg bor deal
in connection with the program the parent has issued a letter of intent which is not a guarantee but states the parents intention to make sure a subsidiary meets its financial obligations
the industry is expected to continue growing at 15 to 35 pct over the next five years he said
hutton said the acquiring company pc acquisition inc is paying 35 dlrs cash per share for 83 pct of purolators stock in a tender offer to begin thursday
gardner said he believed a better offer could be made by another entity
refined lead consumption rose to 23992 tonnes from 23194 while scrap offtake was 2322 tonnes against 1773
he said toshibas application would be considered by the office of telecommunications oftel an oftel spokeswoman said a decision on this application will take weeks maybe months asked whether toshibas bid would fall victim to british retaliation the oftel spokeswoman said who knows whats going to happen given the current situation a toshiba executive who asked not to be named told we do not anticipate any special problems some analysts queried by questioned the basis of britains strong stand on the cable and wireless bid
it will also eliminate the 50 ct minimum monthly transaction fee it said
the bank of france said it will offer seven billion francs worth of negotiable treasury bills at its next weekly tender on april 6
oats were unchanged at 168 per tonne at buenos aires
one trader most stocks in the group bounced off their lows by midday as investors took the news in stride
eastman kodak co said it plans to sell its 23 pct holding in icn pharmaceuticals icn and part of its nine pct holdings in viratek vira it said the purpose of the investments had been to lay the groundwork for the creation of its nucleic acid research institute
in a compromise with coal producers the bill requires new baseload electric powerplants be designed to accomodate modifications necessary to burning coal or another alternate fuel
under the agreement the oil drilling equipment and oil services company will pay reduced quarterly interest payments on part of its bank revolving credit loans and industrial revenue bonds
sallie mae says it will price 300 mln dlr floating rate note offer monday
the issue is guaranteed by bacob savings bank
one analyst speculated that coke became the rumored suitor because wendys decided to sell coke at its fountains instead of pepsi
rabobank nederland said in its latest economic bulletin by maintaining the 11300 limit the central bank raises the expectation it will always intervene above that level
the impact of recovering oil prices would come through faster on the downstream side than on the upstream as such a high proportion of upstream activity centred on gas which typically reacted to oil price changes with about a half year lag analysts said
showboat inc will take a charge of 19 to 20 mln dlrs pretax against results for the third quarter ended march 31 director and assistant to the president j
saudi arabia has committed itself to japanese lpg buyers which has quelled fears that lpg supplies from the mideast gulf could easily be disrupted in the wake of heightened hostilities in that area said another trader
ppg industries ppg sells ethylene interests
it cited bank of montreals below average profitability and internal capital generation and relatively high international debt exposure in relation to common equity although it noted that loan losses were expected to moderate in 1987
he said indonesia is expected to export a substantial amount of coffee this month without such restrictions
goodman fielder plans 100 mln dlr note facility
oper shr 40 cts vs 30 cts oper net 1364000 vs 1025000 revs 147 mln vs 110 mln avg shrs 3372970 vs 3425400 year oper shr 86 cts vs 32 cts oper net 2925000 vs 1109000 revs 430 mln vs 357 mln avg shrs 3383651 vs 3418594 note year ago periods exclude extraordinary gain of 11 mln dlrs or 31 cts shr
it said the first quarter will be impacted by writedowns resulting fromn revised estimates of costs required to complete projects and by delays in starting work on jobs originally forecasted to contribute to first quarter earnings
hoechst ag hfagf year 1986
monetary sources said they believed that us treasury secretary james baker considered tokyos package announced yesterday to be a major stimulation of the japanese economy
lightning strikes hit the grain sector of the port of rotterdam today after employers turned down union demands for shorter working hours in a new labour agreement transport union fnv spokesman bert duim said
canadian imperial oil 70 pct exxon owned said it raised its posting for light sweet crude oil at edmonton by 32 canadian cts a barrel effective today
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
thyssen sees good 1987 profit despite steel losses
concord computing ceft executives resign
this is just a one shot spending and we cant expect that high level of public sector consumption in the following quarter takahashi said
new zealands trading bank seasonally adjusted deposit growth rose 21 pct in february compared with a 26 pct rise in january the reserve bank said
norways central bank reserves totalled 7371 billion crowns in may against 7606 billion in april and 9502 billion in may 1986 the central bank said in its monthly report
stockholder systems ssiaa makes acquisition
it says that while many government officials and advisers are recommending further relaxation there are equally strong pressures being exerted to halt all such moves this group strongly favours an import substitution economy the report says
petroleum products fell to 925 pct in february from 945 pct in january
the walkout by brazils 40000 seamen has idled 160 ships in various ports jorge luis leao franco a senior official of the national merchant marine union told 
it goes far beyond investor protection shad said
in each case farmers would have to undertake not to step up their capacity for output of other products which are in surplus in the ec
sigma mines quebec ltd 65 pct owned by dome mines ltd dm said its sigma mine had proven and probable reserves at the end of 1986 of 4902940 tons with an average grade of 0139 ounces of gold a ton
he estimated the two foreign firms share in the merged consortium at less than three pct and added that even the largest shareholders could own only some five pct cable and wireless and japanese trading house c
however ultramar said it was optimistic prices would strengthen over the longer term
hanson sells finlays unit for 169 mln stg
diamond star motors corp the joint venture company owned by chrysler corp c and mitsubishi motors named additional production suppliers for the new vehicle to be produced at the companys plant under construction in bloomington ill
speaking at a news conference on the third quarter results which were released earlier today odgers said the company faced heavy costs for installing new digital telephone systems in britain for three to five years
telecommunications orders remained at roughly the same level
thailands commerce ministry announced a new tapioca export quota of 737987 tonnes for the european community against 762860 tonnes for the previous allocation
the bonds maturing 10 years from the date of issue would carry a 10 pct per annum interest rate payable annually in arrears bell group said
27 in discussions with governments brazil would review the mechanisms whereby finance was made available to nations in need
this reflected the reclassification of brazilian loans a reduced federal income tax rate which affected the calculation of the taxabale equivalent adjustment on tax exempt assets and a narrowing of the spread between the prime rate and chemicals cost of funds
chancellor corp chcro 4th qtr march 31 loss
bank of boston corp expects first quarter earnings will range between 90 cts and one dlr a share up from 79 cts a share last year chairman william brown said
earlier this month talks in london to re introduce export quotas suspended in february 1986 ended in failure
ashland oil inc
while innovations may be intellectualy stimulating they lack transparency he told an investors forum in west berlin
the company said the dividend establishes a new policy for the payment of quarterly dividends
lightning minerals inc year loss
many banks businesses and schools stayed shut as workers struggled to keep main roads and supply lines open in this city of 65 mln people
world bank expected to approve philippines loan
the lower dollar ought to have made us exports 40 pct more competitive in japan
commonwealth bank cuts australia prime to 175 pct
the company said it will propose an increase in its dividend rate if the split is approved effective with the june payment
the us still demands as a condition of reimposition of coffee quotas that objective criteria be set for establishing quotas said the us official who asked not to be identified
tass news agency announced yesterday that grain products minister grigory zolotukhin 75 was being retired and replaced by alexander budyka a senior food industry official
harper and row publishers inc said it received an acquisition offer from harcourt brace jovanovich inc to acquire all of harper and rows shares at 50 dlrs a share in cash
asked his reaction to the gnp report during a white house photo session reagan replied it wasnt all that bad
jm resources inc said it has acquired a 90 pct interest in dei acquisition corp from interfirst venture corp sam b
ultramars marketing units include ultramar golden eagle ltd which in 1985 made a profit of around 14 mln stg before financing and group administration charges
the remainder will be applied toward reducing any outstanding borrowings under the companys revolving credit loan agreement and for working capital holiday rambler said
april futures traded this morning between 168 and 170 stg per tonne compared with pmbs average price of 104 stg
progressive savings has assets of about 500 mln dlrs and operates ten offices in los angeles and orange counties
wonnacott said that to resolve the subsidy problem the two sides should permit export subsidies of exports of up to 20 or 25 pct without imposing coutervailing duties
inspiration consolidated copper co a subsidiary of inspiration resources corp said it is lowering its base price for full plate copper cathodes by 050 cent to 740 cents a lb effective immediately
the results were broadly in line with market expectations leaving shares at 499p in early trading up one pence from yesterdays close but slightly off pre announcement opening levels
correction rome italian january production in story headlined italian january industrial output falls 34 pct in second paragraph please read the fall follows changing rise to fall
dst 1 in the epsilon formation was earlier reported as flowing gas at 237862 cm day delhi said in a statement
it will enable us to borrow something like 45 billion dlrs in the next five years he added
ao smith corp smc sets quarterlies
hughes vice president ike kerridge said the recommendation would be put to shareholders at a meeting scheduled for 10 am local time 1600 gmt to discuss the proposed merger
asian dollar assets exceed 200 billion dlrs
we have made the utmost efforts among the worlds manufacturers to improve productivity he said
he said it will take a concerted effort to regularize brazils external payments
treasury assistant secretary david mulford said the paris agreement among leading industrial nations is intended to produce reasonable stability in exchange markets over the next few months
in 1986 china had a trade deficit of 119 billion dlrs down from a record 14 billion in 1985
bronstein already held the other 20 pct of cap mortgages stock
ivanov also accused the united states of stepping up the regional crisis and of failing to exert genuine efforts to end the iran iraq war
australias medium term liquid fuel self sufficiency position is posing a major economic threat yet the governments response has been to load new tax burdens on the oil industry benbow said
the us agriculture department forecast argentinas 1986 87 coarse grain crop at 1399 mln tonnes vs 1544 mln tonnes last month
1986 qtr and nine mths includes gain 2158000 dlrs or 47 cts per share and 5567000 dlrs or 122 dlrs per shr respectively from utilization of tax loss carryforward
at least 60000 tonnes of corn worth 240 mln pesos have been smuggled into the philippines over the past few months the manila bulletin newspaper said quoting an official in the national food authority nfa the official who was not named said a large corn shortage and corruption among customs and coast guard personnel have jeopardised the governments ban on corn imports which was aimed at saving foreign currency
bank of nova scotia said it would apply for a common share listing on the tokyo stock exchange
analysts did not forsee a major impact from algerian imports on us prices which are currently soft but expected to trend higher by the end of 1987
the main contribution towards resolving the still enourmous us trade deficit is not repeat not a further fall in the dollar is not still more protectionism in your country no it is like in other countries changes in domestic economic and financial policies ruding said
they said the decision was taken after the sugar importers association asked that the sugar trade be further liberalised
the target range set by the louvre accord is generally considered to be 14000 to 16000 yen dealers said
we anticipate that natural gas pipelines will need to dedicate to their systems new gas reserves for 1989 and 1990 supplies
quantech said it has received waivers from marine midland banks inc mm through may 26 on covenants in its loan agreement
in the fixed rate sector trading was dull with the market still attempting to digest a heavy volume of new issues from earlier this week although primary market activity slowed somewhat today trading and syndicate sources reported
the united states dependency on foreign oil sources may reach record levels by the mid 1990s according to john h
producers and consumers now are facing off over the question of how quotas should be calculated under any future quota distribution scheme delegates said
once the board made the decision to authorise the proposal it had a legal obligation to announce it he said
earlier the companies said squibb would buy from cetus a five pct equity postion in cetus for about 40 mln dlrs
a share buyback program started last year reduced the number of shares outstanding to 826 mln at year end 1986 from 972 mln dlrs the end of 1985 adjusted for the split
a 125 mln dlr issue of second priority secured equipment certificates due 1995 has an 11 pct coupon and par pricing and an equal sized offering of third priority certificates due 1999 was given an 11 3 8 pct coupon and par pricing
the computer company would offer open systems so that customers would not be tied to a specific vendor or architecture and it will also focus on tying computers together through communications networks
japanese purchase of us high tech firm opposed
earlier today closely held computerland the largest pc retailing chain in the country said it agreed to be bought by an investor group led by em warburg pincus and co new york
in fact the system has calmly withstood the suspension in part or in full of interest payments by countries owing about 150 billion dlrs of the regions total foreign debt of 380 billion
strata said it owed 14 mln dlrs in overdue interest to its lender at the end of 1986 and the entire 109 mln dlr principle has been classified as a liability
looking ahead over the next 18 months the oecd expected economic performance to improve partly as a result of tighter fiscal and monetary policy and a substantial improvement in trade volumes
for the qtr and yr 1985 loss consisted of a pretax loss of 239 mln and 1023 mln which included a writedown of inventory restructuring charges and loss on the sale of a division amounting to 130 mln and 610 mln and a tax gain of 3036000 and 285 mln
a klm spokeswoman said the dutch flag carrier would now offer a minority stake in xp to british and commonwealth in the negotiations on iml but declined to elaborate on financial aspects of the talks
the irving economist noted that three times last year in a similar paroxysm of pessimism the key bonds reached a similar closing yield high
the cso said the average gdp estimate index for 1986 as a whole was 1131 up 26 pct from 1102 for 1985
domestic group net profit fell to 779 mln from 1222 mln
some 149 billion marks will drain from the market today as an earlier pact expires so the bundesbank is effectively withdrawing a net 81 billion marks from the market with todays allocation
free state consolidated last year produced 104 tonnes of gold from 28 underground shafts
brodersohn reiterated that argentinas goal is to reach an agreement which permits four pct growth this year following last years 55 pct and negative growth in 1985
the company forecasting a 15 pct drop in 1987 operating earnings over last year said late today that it is reviewing all operations in an effort aimed at maximizing long term stockholder value analysts also said contels federal systems division which has been hit with several executive defections may also be put on the block
out of a total 22125 tonnes in lme stocks the lowest level since june 1980 just over half is in uk warehouses which are not popular with merchants putting together shipments
poehls policy has always been a policy which does not focus so rigidly on domestic factors but also on the external economy she said
italy shows september overall payments surplus
he said the pact could resolve the knotty issue of government subsidies end curbs on trade in services and investments and pave the way for new global talks under the general agreement on tariffs and trade
enfield said it would use proceeds to retire short term bank debt and boost its 22 pct stake in consumers packaging inc and its interest in federal pioneer ltd through open market purchases
shr loss nil vs profit six cts net loss 89000 vs profit 1136000 revs 1050 mln vs 97 3 mln 1st half shr loss two cts vs profit 21 cts net loss 396000 vs profit 3790000 revs 2121 mln vs 1948 mln avg shrs 181 mln vs 183 mln note current quarter net includes 77000 dlr tax credit
phelps dodge would only want a friendly deal he added
the company has said it is studying options for its shearson unit
of the shares being offered 490000 shares will be sold by general electric credit corp and 140000 by other shareholders
shr 81 cts vs 57 cts net 3660273 vs 2437914 rev 285 mln vs 231 mln six months shr 29 cts vs 12 cts net 1325755 vs 483559 rev 317 mln vs 264 mln
the preussag world group made a net loss of 131 mln marks in 1985 after a net profit of 1545 mln the year before
a turkish research ship which greece had threatened to tackle if it sailed into disputed waters in the aegean sea kept to turkish territorial waters yesterday avoiding a potential clash
rationalisation measures taken by manufacturing industries to cope with the yens sharp rise are beginning to brighten their business outlook the institute said
ctc a group of canadian tire dealers which already owns 17 pct of canadian tire is currently appealing in an ontario court against a previously announced ontario securities commission ruling blocking ctcs 272 mln dlr bid
the parent has a 1 senior debt and the unit carries a 2 senior debt
world group pretax profit 321 billion marks vs 316 billion
the ministry recently called on japans major chip users some of whom are also leading producers to step up their purchases of foreign semiconductors
american motors corp said it produced 2578 us cars in march down from 5922 in the same 1986 month
the colombian pipeline to tumaco has ample room for ecuadorean crude they said
gulf said the governments charges relate to discharging materials without a permit not to environmental damage resulting from the action
us bank discount borrowings 228 mln dlrs
foreign bankers said this type of proposal might prove attractive to bolivia in the long run especially as the government realises that it will have to attract a large amount of new capital in order to grow
but market sources said that while the recent franc performance leaves room for a further quarter point cut in the intervention rate there was plenty of market liquidity
he said he would have been happy to have brought forward five billion marks of tax cuts now planned for january 1988 to the beginning of this year but he said the government faced political constraints getting such measures through the upper house of the west german parliament
greenbaum said that february us personal income should rise at least 05 pct after being flat in january
westpac banking corp and the melbourne university institute of applied economic and social research said their leading index of australian economic activity rose for the ninth successive month in december
analysts noted warner owns warrants to purchase 325 mln viacom shares at 35 dlrs and another 125 mln shares at 3750 dlrs
treasurys baker says new money not panacea
ecuador to produce above opec quota minister
sage analytics international inc said its board has declared a three for two stock split payable june 22 to holders of record on june eight
an economist at the bank fuer gemeinwirtschaft bfg in frankfurt said a two month comparison of trade figures gave a more accurate picture of west germanys trade position
the company said layoffs will start within the next few weeks
indonesia turkey eligible for cattle under eep
banks had been pressing brazil to make at least a token interest payment but gros said the government was unable to comply for the moment
ea viner holdings ltd eavkf 4th qtr loss
a house taxwriter said energy secretary james herringtons outrageous plan to restore an old tax break for oil companies was both bad tax and energy policy
the australian government telecommunications authority telecom australia said it will offer two bond maturities totalling 40 mln australian dlrs for tender next week
oper shr profit six cts vs loss 20 cts oper net profit 734000 vs loss 2312000 revs 168 mln vs 139 mln year oper shr profit 30 cts vs profit three cts oper net profit 33420000 vs profit 318000 revs 675 mln vs 526 mln note excludes loss of 41000 dlrs or nil vs gain 7000 dlrs or nil in qtr and gain 247000 dlrs or two cts vs gain 88000 dlrs or one ct in year from net operating loss carryforwards
if the company is unable to or fails to achieve certain projected operating results in the meantime it will be required to divest enough assets to retire its debt it said
the ico executive board meets here march 30 to april 1 but both producer and consumer delegates said they doubt if real negotiations will begin then
it also said the bundesbank should reduce inflationary pressures by cutting the current rate of growth in money supply to about four pct
about 9000 miners employed by the state corporation comibol declared a general strike as from midnight 0400 gmt to press for higher salaries a statement by the federation for bolivian mine workers said
hoechst ags hfagf us unit hoechst celanese corp said it has begun projects that will cost more than 150 mln dlrs
bryant said the companys class a stock elects only 30 pct of the board with the remaining 70 pct being elected by class b shares two thirds of which are controlled by the bryant family trust which has no intention of selling its shares
fortune financial group incs fortune savings bank subsidiary said it executed a definitive agreement to buy marine savings and loan association of florida for 101 mln dlrs
the new exchange now planned will apply to the securities and investments board for recognition as an rie at the appropriate time the agricultural futures exchange said
free market prices are currently just over 16 dlrs
last minute opposition to gulf bill arises
as a result oneill said there was much confusion many unmatched trades and large losses for some traders
notably ratings were reduced for several of the largest us bank holding companies reflecting lower asset quality and weaknesses that were specific to those firms s p said
non callable for life the issue is rated a 3 by moodys investors service inc and a minus by standard and poors corp
the shift has prompted changes in dealing habits
muramatsu said nissan is studying the possibility of setting up its own finance company to improve access to us and european capital markets
usair later said it did not buy the stock
it said the purchase only includes the businesses in la crosse and rochester
the committee banks met briefly earlier today and decided that they needed more time in particular to consider a news report which quoted a reagan administration official as urging that the proposal be given serious consideration
the bank of england said it provided assistance worth 350 mln stg during the afternoon session which takes total help so far today to 446 mln stg against a shortage estimated at around 550 mln stg
middle south utilities inc will not consider payment of a common stock dividend until there is another ruling on a mississippi supreme court order rolling back rates at the companys mississippi power and light co subsidiary chairman edwin lupberger said
us exporters will be able to sell 8000 head of dairy cattle to indonesia and 5000 head to turkey under the export enhancement program the us agriculture department said
until now finance has been the responsibility of klaus luft who was named chairman of the board following the death of company founder heinz nixdorf in march 1986
the state showing the biggest enrollment in the conservation program during this signup was texas with approximately 1225 mln acres followed by iowa with 1030 mln acres minnesota with 890000 acres montana 875000 acres and kansas with 842000 acres
based on the previous provisional figures issued for february wheat exports were increased by 480200 tonnes and barley by 283800 tonnes
but if south africa is perceived as lacking available supplies purchases of us corn may be further stimulated the department said
last year the company reported earnings of 977000 dlrs
southam said the newspapers the herald the lance and metro one will be printed at its canadian publishers division in winnipeg
shr 48 cts vs 35 cts net 4946000 vs 3552000 sales 941 mln vs 845 mln avg shrs 102 mln vs 101 mln
shr loss 67 cts vs loss two cts net loss 3721000 vs loss 107000 revs 1557 mln vs 242 mln note results for 12 months ended dec 31 1986 and eight months ended dec 31 1985
delivery method will be by in line or in well transfer inter facility transfer or pumpover or book transfer and cannot be done earlier than the tenth calendar day of the delivery month according to the exchange
it bid them at an 8 3 8 pct coupon
the capital increase is in effect a passport to the capital market he said
exxon said that morgan guaranty trust co the fiscal and paying agent for the issue euro clear and cedel the two major european securities clearing systems and police in london and brussels are investigating the case
she cited a number of reasons besides possible crop problems that might point to additional soviet import demand
government officials said indias total ore exports are likely to rise to between 33 and 34 mln tonnes in 1987 88 against a provisionally estimated 31 mln in 1986 87
bernstein said the unit had operating earnings of 132 mln dlrs last year and he expected it to earn about 175 mln dlrs this year
in milan a fiat spokesman had no comment on the reports
alcan al to close west german smelter
he said the offer would be based on the value of bolivian paper on the international secondary debt market where it now trades at between 10 and 15 pct of its face value
more
the current account surplus amounted to 720 billion rand in 1986 versus 590 mln the previous year
new zealand budget forecast seen as positive
i am speculating that the new product could be an electronic still camera referring to a camera that records its images on magnetic disks as opposed to conventional film
he said that during the visit to bogota he held technical discussions with colombian officials
ctc dealer extends bid for canadian tire
it said it may take legal action or seek the support of shareholders in calling a special meeting to replace the board and to consider other proposals it might develop
italys cir plans convertible bond issues
the ussr has purchased 2825600 tonnes of us corn as of april 2 for delivery in the fourth year of the us ussr grain agreement
results for year 1986 group pre tax profit 385 mln crowns vs 380 mln net turnover 1417 billion crowns vs 1669 billion dividend eight pct vs nil group profit after tax 16 mln crowns vs 244 mln
they have a sinking fund requirement starting in 1998 calculated to retire at least 70 pct of the debentures prior to maturity
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
we do not understand why the g 7 approved present rates as the yen has risen excessively since the paris accord ishihara said
the iea said assuming crude and product prices remain nar current levels some destocking by end users can be expected
oper shr loss 16 cts vs loss 10 cts oper net loss 1569000 vs loss 990000 sales 503 mln vs 501 mln nine mths oper shr loss nine cts vs loss two cts oper net loss 849000 vs loss 199000 sales 1599 mln vs 1566 mln note current nine mths net includes 1036000 dlr pretax gain on sale of property
southwest airlines cos transtar airlines said it will add new flights and increase service to several cities including los angeles
grimes ii a director of the company and b
a spokesman for the governor said nothing will be decided today but said the governor will evaluate later whether to call a special session in the next few days
the sources said finance undersecretary ernest leung and deputy central bank governor edgardo zialcita left new york after ongpin and central bank governor jose fernandez started talks with the banks to put finishing touches to the accord
to promote trade saudi arabia is inviting japanese industries to do business there he said
canada january trade surplus 533 mln dlrs
on paper however argentinas lending syndicate could shrink dramatically because over 100 of the countrys 350 creditors have exposure of less than five mln dlrs
blumenstein was named an assistant group executive of the information systems group and he will report to lucente ibm said
japans minister of international trade and industry hajime tamura will meet representatives from 151 of the nations largest companies next week and appeal to them to do their best to increase imports ministry officials said
bell petroleum services inc said regal international inc has doubled its offer for bell stock to one regal share for each bell share from half a share previously
the company has the non cumulative option to retire an additional 100000 shares on any sinking fund payment date it said
the series totaled 500 mln dlrs and was oversubscribed with nearly two billion dlrs in bids
no more than four offers will be considered from each offering party it added
weizsaecker in a speech on the first day of an official visit to argentina said debtor and creditor countries have created this situation jointly
such a decline he has said could refuel inflation as imported goods become more expensive and chase away foreign capital needed to finance the federal budget deficit
petrobras cancels oil purchase from saudi arabia
the february sales index base 1980 was put at a preliminary 1250 after a final 1223 in january
operators have already started to take account of the expected change and reported at least one trade in tonnes for aug sept shipment yesterday
guinness completes unit sales worth 2326 mln stg
another bank said it had been asked by the bank of france to say it was in the market a departure from the central banks usual insistence on confidentiality
the companies said they agreed not to pursue the merger because several actions recently taken by ambrit would mean substantial delays in completing the deal
baker said today it would withdraw the one billion dlr lawsuit it had filed to force hughes to follow through with the merger
some interpreted the move as a goodwill gesture in advance of his annual meeting on april 5 6 in ottawa with prime minister brian mulroney
avon products avp sees higher 1987 earnings
the agreement in principle with the bank advisory committee led by the bank of nova scotia bnoto comes five days after jamaica successfully concluded a 1255 mln dlr rescheduling accord with the paris club of creditor nations
gleske also was strongly sceptical that an international system of binding target zones for currencies fluctuating in narrow bands against each other can be established
exports to organisation for economic cooperation and development countries rose to 429 billion dlrs from 411 billion in 1985 while imports were 456 billion after 355 billion
dillard department stores inc based in little rock ark and allied stores corp jointly said they entered a definitive purchase agreement for the sale to dillard of the joskes and the cain sloan divisions of allied for 255 mln dlrs cash subject to certain closing adjustments
net includes loan loss provisions of 5765000 dlrs vs 4252000 dlrs in quarter and 433 mln dlrs vs 154 mln dlrs in nin mths
while wanting to make the report as explicit and detailed as possible they said the political realities might force them to water down some of the committees recommendations
detection systems detco year end march 31
the executive board session looks set to end today following a final session at 1600 gmt 1000 est when a consultancy report of the operation of the ico will be presented to producers and consumers delegates added
us feb durable goods orders rose 60 pct nondefense durables rose 38 pct
shortly before the bank said it had revised its estimate of the shortage up to 450 mln stg from the earlier forecast of 400 mln
net international monetary reserves declined to 575 mln dlrs at end september from 1468 mln dlrs at end september 1986
the spokesman was commenting on west german press reports that fiat is considering a eurobond issue of up to 384 mln dlrs convertible or with warrants attached for exercise into its shares still held by the banks
unique export financing being arranged for mexico
hernandez said while opec and non opec nations have already made some strides in their efforts to strengthen the market the danger of a reversal is always present
this reflected expanded factory financed rebates and discount loan programs the department said
brennan estimated brazilian exports to canada totalled roughly 800 mln canadian dlrs in 1985 while imports from canada reached about 700 mln dlrs
non callable for seven years the issue is rated aa 2 by moodys and aa by standard and poors
if mellon does not redeem the notes at that time they will be non callable to maturity
nor is it reasonable to expect that it should be considering south korea has a 40 billion dlr foreign debt and spends six pct of its gross national product on defense
the spokesman declined however to disclose the price paid for the operations by banco de santander or other terms of the deal
officials of five thai commercial banks are expected to meet tomorrow to seek agreement on cutting interest rates banking sources said
the offer was made to kuwait in light of irans deployment of chinese built missiles to cover the entrance to the gulf
in addition the company said it plans to offer to exchange one dlr principal amount of 13 pct debentures due september 1 1997 for each outstanding one dlr principal amount of 8 1 4 pct debentures
west german finance minister gerhard stoltenberg called it a good meeting and in brief remarks exchanged with reporters other ministers seemed pleased with its outcome
the bank in 1986 decided to establish a fund under the name idb unit trust to introduce and market financial instruments in line with the principles of islam the report said
i certainly look on the future in a positive way
helmut kramer spokesman for chancellor franz vranitzky told that the forecast had been made during the meeting attended by vranitzky finance minister ferdinand lacina national bank president stefan koren and a wifo representative
our performance in 1986 marks a major turning point for k mart fauber said in a statement
its other key sectors are merchant banking oil and china
however varity increased its share of the global tractor market by more than one pct to 182 pct it said
brokers enskilda fondkommission said in a report this month that astra was a world leader in anti viral drugs
soros group has bf goodrich gr stake
much of our considerable optimism about the future is based on the strength of a continuing flow of new products exley told a meeting of securities analysts
general partners said it would set up voting trust arrangements pending review of its long form application for fcc approval of its acquisition of control of gencorps broadcasting subsidiary
the wholesale market in treasury bills is very active said michael berry vice president of the securities firm walwyn stodgell cohran murray ltd
ordinary capital resources ocr lending to indonesia was 36 billion dlrs 271 pct of ocr loans at end december 1986
in the same way it has been understood that greece will also not undertake oil activities outside its territorial waters the statement added
he said venezuela now obtains trade credit lines without a government guarantee something that argentina and others are just starting to try to negotiate in their restructuring packages
industry sources told reports that the companies tea import licences had been suspended were incorrect
the company said it is evaluating both proposals
and as part of the agreement with the banks that will be signed next week mexican residents will be allowed to participate in the scheme hitherto reserved for foreign firms in the hope that some of the 30 billion dlrs estimated to be held abroad will be repatriated
the company which is still in default said it expects to completed amended loan agreements during the next few months
this is a complex issue
north yemen at its weekend tender bought white sugar from a french operator acting on behalf of a swiss house at 21470 dlrs a tonne c and f traders said
the treasury 2 1 2 pct index linked stock due 2020 closed just under one point lower at 100 11 32 stg pct
commonwealth mortgage ccmc buys armonk firm
she told delegates at the informal meeting of trade ministers that this was one of five principles canada wanted adopted in reforming agriculture in the general agreement on tariffs and trade gatt secondly support for agriculture should avoid production incentives and thirdly countries should freeze and seek to reduce government aid measures that distorted world prices carney said
the commerce department has argued that excessive restrictions hurt us companies that compete with foreign exporters
integrated generics ign may sell 10 pct of unit
the two steelworkers locals representing the office and technical workers have not negotiated since may 21
hrs ihirf reducing stake in hal roach hrsi 
the comex fined four large firms a total of 100000 dlrs for failure to resolve unmatched trades in a timely manner
trans world airlines inc which disclosed that it does not intend to seek control of usair group at this time said it still believes a combination of the two airlines would have benefits to both
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 main reasons for the january decline after a 23 pct december rise were declines in building permits new orders for plant and equipment and for consumer and industrial goods
graham said he thought expectations would gradually improve later this year when the dollar might consolidate and interest rates ease slightly
chrysler c says march us car output fell
he said venezuelas original proposal was to pay no principal on restructured debt this year but is now insisting that if it makes payments they be compensated by new bank loans
the termination is effective january 1 1988 the treasury said in a two sentence announcement
the offer would be made through its bp north america inc unit and was intended to commence not later than april 1
it is extremely important that the us market reduce its restrictions on chinese imports provide the needed facilities for them and businessmen from both sides help to expand chinese exports the editorial said
sept 30 end shr 32 cts vs 32 cts net 2990000 vs 2988000 sales 573 mln vs 546 mln
placer pacific says big bell gold study expanding
penril corp said it is seeking to sell its triplett electrical instrument corp subsidiary in bluffton ohio and tripletts alltest division in hoffman estates ill as part of a plan to concentrate on its three profitable division and reduce its debt load
opec assigned prices to its other key export crudes with a 265 dlr gap between the heaviest and lightest
wilson was responding to opposition party questions about a possible loss of jobs from the rise in canadian investment abroad
the journal said inco is being dropped to substitute a stock that will make the index more representative of the market
a grain elevator in burlington iowa exploded today leaving five injured
foreign banks hold almost half the debt
senator defends us mandatory farm control bill
it said the forecast was in its formal offer document sent to hillards plc shareholders today
officials declined to identify the two offers
dart group flexible on supermarkets sgl bid
the dollar was also supported by a major electrical consumer goods company which was a speculative dollar buyer at around 14525 yen they added
god willing we will carry out our duty in the coming days and make them sorry said rafsanjani in a speech to parliament later broadcast by tehran radio
our hope is that we can come to a mutual agreement that is good for both companies kistler said of the proposed merger that would result in a 12 billion dlr oil field service company
the 1985 net profit was 272 billion
net service receipts were 223 billion dlrs in 1986 compared with 217 billion dlrs in 1985 the department said
qtly div 47 1 2 cts vs 47 1 2 cts prior pay may 13 record april six
the trail smelter about 400 miles east of vancouver produced 240000 long tons of zinc and 110000 long tons of lead last year
ranco inc said shareholders at a special meeting approved a merger into siebe plc for 40 dlrs per share
it said in a statement the terms of the offer will be 13 new rank hovis shares for every five avana ordinary shares valuing each avana share at 829p
belgium is launching a euro commercial paper program for an unlimited amount with the issue planned immediately after signing in mid may first chicago ltd said as arranger
following the merger balzac shareholders will hold 80 pct of the outstanding stock of magellan the company said
as part of the price principal neo tech received notes and preferred shares of energy holdings
indonesian agriculture growth expected to slow
ubs brought two negotiated deals to the marketplace after that
first interstate bancorp i files debt offer
photo moto recored a net loss for the first quarter 1986 ending march 31 of 328889 dlrs
domtar stock was previously split on a two for one basis in june 1985
the finance ministry has asked trust banks to moderate their dollar selling trust banking sources said
crepe one was traded at 2068 and crepe two at 2045 rupees
executive vice president orville sweet said the decision to spilt the show and congress came about because there are producers who never get to see the trade show floor
the warrants expire on january 8 1988
it said the plan was intended to protect stockholders against any attempt to take unfair advantage of the recent decline in stock prices or to use abusive tactics such as market accumulations which would interfere with its ability to maximize stockholder value
unadjusted annual growth in sterling m3 was 18 3 4 to 19 pct in the 12 months to february against 176 pct in january while m0 rose four to 4 1 4 pct after a 52 pct rise in january
us sets corn deficiency payment half pik certs
chuquicamata public relations director guillermo barcelo told by telephone from the mine that the quake had caused no problems and operations continued as usual
the jump in refining capacity is a concern if it continues said kenneth buckler executive vice president of refining and marketing at total petroleum co a us subsidiary of cie francaise des petroles of france
opec defending 18 dlr price subroto says
spectrum control inc spec sets quarterly
allegheny international inc said it sold three of its industrial units which served the railroad industry to chemetron railway products inc a senior management group of allegheny
the corporation believes that it is premature to make a decsion to classify such medium and long term debt as nonperforming at this time first interstate said
falcon said it expects to pay cash distributions to limited partners at an annual rate of 215 dlrs per unit through december 31 1989
the council will meet in saarbruecken and the meeting will be followed by a news conference at around 1030 gmt
us bancorp usbc 1st qtr net
the sale is for cash and notes but exact terms were not disclosed
with the restart of this 22700 metric tonne per year line reynolds said it will be operating at 100 pct of its consolidated primary aluminum capacity of 695000 tonnes per year
colombia will continue to export its traditional amount of coffee between 96 and 10 mln bags of 60 kilos and will do so without an agreement among producers he said
the dollar has now shed some seven pfennigs since the bundesbanks new tack became clear in early october
the decision was based on among other things the advice of its financial advisors goldman sachs and co that the offer of 145 dlrs per share was inadequate
new england critical care necco buys npo
but he denied than any adb loan arrears were more than 12 months behind schedule
it is clear that both germany and japan are having difficulty adjusting to their very large exchange rate appreciations and making their economies more domestically oriented just as it is taking time for the united states to make its own economy more export oriented lawson said
the company said it paid kodak 1050 dlrs a share or 24 mln dlrs
a nippon steel spokesman told that china has made no such official request and the company was not considering such sales at the moment
toby roth
this takes the banks total help so far today to 497 mln stg and compares with its forecast of a shortage in the system of around 700 mln stg which it earlier revised down from 800 mln
the company said it will distribute the split on may 5 to shareholders of record april 20
csr said it had dropped plans to float its oil and gas interests held in the delhi australia fund and would instead sell it to exxon corp xon unit esso exploration and production australia inc for 985 mln dlrs
eurosterling bonds saw early gains of up to half a point
because of our trading patterns over a period of decades we are in the process of building two canadas one that is rich and promising one that is under developed and under employed said mulroney
this reflected expanded factory financed rebates and discount loan programs the department said
the bank of france said it set a money market intervention tender today to inject funds to the market against first category paper
following the tender offer emery said it would offer 40 dlrs of junior subordinated debentures for each remaining purolator share outstanding
the wheat growers official noted however that there is significance in that fact that we havent seen any significant negative commentary on the idea of eep wheat to the soviets in a meeting with exporters this week secretary of agriculture richard lyng refused to comment on their request that the administration offer subsidized wheat to moscow the officials said
beauticontrol cosmetics inc buti 1st qtr net
the government has said it will ask for another 500 mln dlr long term loan from a world bank led consultative group of multilateral and bilateral aid donors to partially fund its land reform program
volcker says fed remains concerned about the possibility of renewed inflation
japans customs cleared trade surplus fell to 189 billion dlrs in the first 10 days of march from a 191 billion surplus a year earlier the ministry of finance said
sensormatic electronics corp snsr 3rd qtr net
rochester telephone corp said it agreed to buy canton telephone co for undisclosed terms
shr loss seven cts vs profit 17 cts net loss 102000 vs profit 258000 revs 1695000 vs 1371000 year shr loss 33 cts vs profit 26 cts net loss 488000 vs profit 384000 revs 6700000 vs 4774000 note 1986 results include operations of radio stations wjye fm for the full year and wnnr am for the last six months
also easter ham business was completed this week and there may be less aggressive interest for pork in general next week
you must open these mechanisms he said
speaking with reporters at the semiannual meetings of the international monetary fund balladur said we are not very far from the notion of target zones even if we dont say so he told reporters that our ideas are progressing adding that the finance ministers have been talking about more cooperation on economic policies and on levels around which currencies should stabilize
however bankers said it is encouraging sama has not blocked a black list of borrowers banks have drawn up and circulated for over a year
we expect this mine to be worth about 2000 billion yen in gold deposits he said
they said the world bank had insisted the two banks appoint independent auditors and draft revised charters
at amro bank a leading analyst said inflation could run to two pct next year
a cypriot tanker was set ablaze in the persian gulf yesterday after an iranian gunboat fired missiles at it shipping sources quoting reports from japanese tankers said today
the national farmers union nfu remains concerned about the future ownership of british sugar despite last weeks decision by the government to block bids from italys gruppo ferruzzi and britains tate amp lyle plc
last years results were also badly hit by a once off writedown of 520 mln crowns for intangible assets
they expressed concern about the 07 pct decline in consumer spending in the final quarter of 1986 but said it was only temporary as exceptionally warm winter weather had depressed retail sales
net loss 688 mln swiss francs vs
pantry inc inb talks on being acquired
a spokesman for the national logistics bureau which distributes and stores sugar said stocks this month were 489437 tonnes
loh said the stock exchange of singapore might expand equity issues by as much as one billion dlrs this year because of the increasing ability of foreign and local market participants to absorb new issues
the 13 pct to be repaid under the standstill amounts to 142 billion dollars
new zealands current account deficit narrowed to 180 mln nz dlrs in january from 203 mln revised from 207 mln in december and 305 mln in january 1986 in a smoothed measurement the statistics department said
the analyst who requested anonymity said i wouldnt believe this one unless theres a deal on the table loral corp officials were not immediately available for comment
a marketing loan for us wheat feedgrains and soybeans would do nothing to help the surplus production situation and would be extremely costly sen
equiticorp holding in guinness reaches 5993 pct
the nigerians also are attempting to reconcile creditors claims with their own receipts on some two billion dlrs of letters of credit contained in the commercial bank rescheduling
in the year ago quarter ashland had income from operations of 938 mln dlrs before corporate and interest expenses taxes equity income and other items
however he denied the government had dropped its opposition to the proposed tax or altered its position
debt exposure fears continued to undermine us and canadian bank paper with one uk house citing a fall of 1 5 8 point on the day on a royal bank of canada issue
the issue is payable on april 15 1987
s and p said debt ratings for the transportation industry would remain stable aside from changes because of mergers
among issues upgraded were williams debentures raised to bb plus from bb minus and williams natural gas cos debentures and preferred stock to bbb minus from bb plus
laroche said he may obtain a short term loan of up to one mln dlrs from amoskeag bank to help finance the purchase of shares under the offer bearing interest of up to nine pct
but by wednesday the dollar climbed to more than 187 marks about five pfennigs above its levels the friday before the g 6 accord
harbour workers around the country went on strike for 24 hours on march 16 but wilson said any further action will occur on a port by port basis
new process co noz sets qtly payout
national self storage said has sold nine storage facilities to southmark corp for 371 mln dlrs
noting that our tender offer is definitely in place the aide said the investors are prohibited by securities and exchange commission regulations from exercising options as long as a tender offer is open
monetary sources said officials were exasperated that the markets which drove the dollar rapidly lower and severely disrupted bond and stock markets too did not take heed of the policy commitments of the group of seven the united states japan west germany france britain italy and canada
prime minister turgut ozal in london on his way home after heart surgery in the united states is expected to receive an ecstatic welcome from thousands of turks when he returns today
the bonds would be redeemed over the next two years and their interest rate would be set by the central bank
the stable exchange rate would help boost imports particularly from the united states
he said one option under discussion for refining the gold ore would be to ship it to bolidens ronnskar copper smelter in northern sweden
analysts said the results were encouraging but the potential difficulty of operating and recovering oil in the field was shown by the fact that the first well had to be plugged and a sidetrack drilled
a and p gave no details on the expanded capital program but it did say it completed the first year of the program during 1986
an itc spokesman said the agency would forward its final report on the anti dumping case to commerce by april 22
emery has shown the courage to go forth said one arbitrager who speculated other courier companies may also emerge as bidders
finance minister kiichi miyazawa said the government had expected the increase and had set aside money to help 300000 people find jobs in fiscal 1987 beginning in april
the bond will be available in denominations of 1000 and 10000 dlrs and will be listed in luxembourg
ellmann said the stock may have also gotten a boost today from some optimism concerning new products the company is currently working on
poloron products inc year oper net
psychologically buffer stock buying should help prices but since the buffer stock already holds a carryover of 100000 tonnes from the previous cocoa agreement and the market is in surplus dealers expressed doubts purchases can counter bearish pressure
the office of finance federal home loan banks said it set rates on todays debt offering of 670 pct on its 111 billion dlr issue 710 pct on a 1065 billion dlr issue and 765 pct on a 375 mln dlr issue
colonial bancgroup inc clbga 1st qtr net
italian 1987 gdp growth forecast at three pct
if the usda acts soon as many dealers expect the movement would break the gulf corn basis
the rate of unemployment fell to 66 pct its lowest level since march 1980 from 67 pct in february
the selling concession is 1 3 8 pct while management and underwriting combined pays 5 8 pct
we are looking forward to working with the employees of borg warner and to borg warner maintaining its strong presence in the chicago community merrill lynch will be the dealer manager for the offer which expires at midnight edt may 8 0400 gmt may 9 subject to conditions including the completion of necessary financing arrangements
the company ended up recording special charges of 21 billion dlrs in the fourth quarter leading to a loss of 202 billion dlrs for the year
but the current system of floating currencies in which currencies can fluxtuate widely adding vast pressures to the monetary system is also being widely questioned
gabelli said its most recent purchases of decision capital fund stock included 95800 shares bought april 3 6 on the philadelphia stock exchange
but we must be very careful he said
the february 22 paris agreement of the group of five and canada to stabilise exchange rates is widely believed to include target ranges but all participants to the meeting had so far refused to specify these
finance secretary jaime ongpin told reporters saturday that the alternative proposal is designed to avoid an impasse when debt rescheduling talks reopen in new york on tuesday
quest biotechnology inc said its quest blood substitute inc subsidiary executed an agreement with alza corp aza which will make alza a preferred shareholder of its subsidiary
they are going to be an interesting model for many other countries because they opened a dialogue on the reforms to every sector of the population and even international institutions he said
new york based bastian technologies corp said it acquired a five pct stake in cosmo communications corp and is considering a move to seek control of the company or to secure a role in its affairs
if lifo accounting had been used company said royal dutch per share net would have been 178 dlrs vs 317 dlrs in quarter and 1160 dlrs vs 953 dlrs in year shell transport per share net would have been 110 dlrs vs 181 dlrs in quarter and 636 dlrs vs 540 dlrs in year net includes restructuring credit 114 mln dlrs vs charge 72 mln dlrs in quarter and credit 67 mln dlrs vs charge 467 mln per share impact of restructuring on royal dutch was credit 27 cts vs charge 17 cts in quarter and credit 16 cts vs charge 110 dlrs in year on shell transport was credit 15 cts vs charge 10 cts in quarter and credit nine cts vs charge 62 cts in year net also includes currency exchange losses of 20 mln dlrs vs 69 mln dlrs in quarter and 170 mln dlrs vs 401 mln dlrs in year
restaurant associates industries inc said the management group led by chairman martin brody and president max pine through october 16 had received 1796727 class a and 1766091 class b shares in response to its tender offer for all shares at 18 dlrs each giving thema majority of each class of shares
monetary and diplomatic sources said there are no signs any new debt initiative of the sort that treasury secretary james baker unveiled 18 months ago in seoul is in the works
new zealand trade minister mike moore told his colleagues great progress had been made in preparing for the current round of gatt negotiations which must not be sidetracked
aidc issues australian dollar zero coupon eurobond
but the lipc has often been criticised for releasing beef stocks when the prices are higher than the ceiling
slenniken said the company has commissioned studies for a 200000 tonne capacity pulp mill which would use the fibre but would need partners to begin the project
on the interbank market there has been an increasing trade in banks cds estimated to be some eight billion markka
qtly div 23 cts vs 21 cts prior pay april 1 record march 16
in japan and west germany by contrast domestic demand should rise faster than gnp
world bank teams studying philippine loan requests
sportscene restaurants inc said it acquired cafe christophe van houtte inc a cafe chain with ten franchises and one corporate restaurant for an unspecified amount of cash and sportscene shares
japanese banks seen agreeing debt risk scheme
curry is currently executive vice president of utah international bhp said
the facility allows for eurodollar and swingline advances up to 50 mln dlrs and also has an uncommitted option for short term multi currency advances
the miti official said miti undertakes such surveys when exchange rates fluctuate widely
we dont think that the us government has a large influence in the tin market at this stage of the game said thomas odonnell director of international commodities at the state department
they said the mineral group has been hit by lower coal prices and shipments to japan while the steel division has been affected by industrial and production problems
for discontinued operations it reported a loss of 95 mln dlrs compared to a year earlier loss of 922000 dlrs
kim who is also economic planning minister said prospects were bright for the south korean economy but the government would try to hold the current account surplus to around five billion dlrs a year for the next five years
only kuwait has an official stock exchange while other gulf nations have yet to establish exchanges
the dollar has hovered around 153 yen since the six agreed to cooperate to bring about currency stability
the program was designed to get belgium out of what the government said was a snowball effect under which the government constantly borrowed more to finance budget deficits which were due largely to the cost of servicing and repaying existing debt
todays announcement that catholic relief services caritas can import 730 jamaican pigs comes after months of protests by farmers who had owned 90 pct of the slaughtered pigs
in the first quarter of 1986 bankamerica earned a profit of 63 mln dlrs but turned in a loss of 518 mln dlrs for the year as a whole
firmer gas oil on the london futures and more bullish sentiment on the new york mercantile exchange futures market are supporting spot price levels they said
bell atlantic corp bel increases payout
the province of quebec is issuing a 30 billion yen eurobond due may 7 1997 paying five pct and priced at 102 1 2 pct lead manager bank of tokyo international ltd said
but rostenkowski set the tone of the trade debate by saying im not trying to write legislation to please lane kirkland
ali told a news conference that including iraq opec third quarter output will be between 175 and 177 mln bpd while fourth quarter output will be nearly 18 mln bpd ali did not detail what effect he thought these production levels would have on prices
but g 7 finance ministers judged by recent statements may be at an impasse analysts said
it said generally favorable weather from early december through february helped compensate for earlier dryness
neither have the government regulators indicated that there will be a problem
in addition s and p does not expect any big shocks to hit the junk bond market this year especially of the magnitude of 1986s unexpected ltv corp ltv bankruptcy filing
shr 21 cts vs 11 cts net 661000 vs 325000 revs 136 mln vs 134 mln avg shrs 3148000 vs 3011000 1st half shr 42 cts vs 25 cts newt 1310000 vs 752000 revs 282 mln vs 256 mln avg shrs 3136000 vs 3006000
federal reserve data released today indicate that there has been no policy change in recent weeks and that none is likely at next weeks federal open market committee fomc meeting economists said
fed sets six day system repurchases fed says
american petrofina which is controled by petrofina sa said it believes it has good and meritorious defenses to any possible claim resulting from the ongoing investigation
the agreement is subject to federal and shareholder approval
an amsterdam bourse listing will be requested for the bonds
it also forecast that australias four major markets the us japan canada and taiwan will continue to dominate the chilled and frozen beef export markets
brennan said he expects banco royal profit to increase this year from the three mln us dlrs reported for fiscal 1986 ended september 30 but said he could not predict by how much because of the countrys uncertain financial climate
shr loss 193 dlrs vs profit 16 cts net loss 53412000 vs profit 4479000 revs 248 mln vs 327 mln note 1986 shr and net include 51187000 dlr writedown on us operations uneconomic coal operations and other mineral properties
earlier gabelli said in a filing with the securities and exchange commission that it holds a 285 pct stake in digiorgio and that it together with gamco investors inc may seek control of the company
stewart warner corp 4th qtr shr loss 386 dlrs vs profit 37 cts
time tl sees dilution from scott foresman
zuckerman said that morgan stanley bought more corporate bonds than any one of the other three houses
image technology makes chemicals for the semiconductor industry
aristech chemical corp ars 3rd qtr net
looking ahead economists said the fed will have to tread a fine line between the dollars progress in the international currency markets and the development of the domestic economy
much more serious for hong kong is the disadvantage of action restraining trade he said
congress has authorized and appropriated 610 mln dlrs for the project the company said
current year net includes gain 1025000 dlrs from sale of cellular telephone investment
the us trade gap narrowed to 136 billion dlrs in march from 151 billion in february and is expected to show continued improvement in april in volume if not in real terms
german gnp is seen rising by two to 25 pct but with inflation between zero and 10 pct according to most german forecasts
sales 225 billion francs vs 249 billion
a typical farm may have from 100 to 150 trees sitting on 10000 square metres of land
the transaction is structured as a merger of liberty with a duly formed unit of equimark the company said
bfgs 1986 accounts were included in a prospectus for ambs capital increase which is to finance the insurance companys acquisition of 50 pct plus one share of bfg
dome responded to the statement by suspending discussions with transcanada in order to pursue talks with other unidentified parties
production in february was 961000 tonnes against 888000 in february 1986 and took the nov feb total for the current crop to 225 mln tonnes
shr 27 cts vs na net 3560 mln vs 2389000 six mths shr 57 cts vs na net 7881000 vs 5415000 note year ago per shr figures not available as bank converted to stock ownership april 29 1986
pansophic systems inc said it will split its stock two for one effective april two to shareholders of record march 13
chemlawn rose 1 7 8 to 36 in over the counter trading
thats not in keeping with the spirit of what we agreed to as recently as earlier this month in washington baker said in a us television interview on sunday
indonesia limits oil price impact finance minister
bolivian debt buyback plan gains ground
the bond is in partly paid form with 30 pct due on april 15 and the remainder due for payment on july 15
it said rating changes quieted in the oil and insurance sectors while utilities provided a positive influence
shr 514p vs 564p div 110p making 174p a 10 pct increase on 1985 turnover 314 billion stg vs 265 billion pretax profit 1822 mln vs 1505 mln tax 538 mln vs 235 mln note comparisons restated
the department declined to comment
industrial equity which is principally owned by brierley investments ltd a publicly held new zealand firm said it bought the stake for 23 mln dlrs for investment purposes
the need to lock in future supplies of gas for utilities and big industrial customers may also bring a resurgence of activity in the gulf of mexicos offshore waters where some of the nations largest gas reserves are located
revenue passenger miles rose 165 pct in march to 2743 mln from 2353 mln and 338 pct year to date to 7103 mln from 5307 mln
melnikov said that world grain markets are different than when the first agreement was signed in 1975
but an adviser to maxwell in new york said theres no basis to think that its us
although growing 225 pct in the midst of ibms sharply lower 1986 year growth will drop to 15 pct in 1987 and 19 pct in 1988 he said
shr seven cts vs seven cts prior qtr pay april 30 record april 15
he also urged greater involvement of trade ministers to ensure the success of the uruguay round
sonex research sonx custom auto uses more gas
the dollar was quoted at around 18040 marks shortly after midday in nervous but quiet trading up from its 17975 85 opening
western diplomatic sources were more blunt
americus trust for bristol myers shares announced an initial dividend of 6875 cts payable may 12 for shareholders of record april 3
entertainment said the offer would be conducted through a negotiated merger with a new corporation to be formed by entertainment marketing
raul nicho president of money market services inc lifted his forecast of bond and fed funds rates an eighth of a point to eight pct for bonds and 6 1 4 pct for funds
pacific resources inc said it has installed a calm catenary anchor leg mooring single point mooring terminal off the southwest coast of oahu at its hawaiian independent refinery at a cost of 35 mln dlrs
sonatrach is currently negotiating with two of its former customers panhandle eastern pel and distrigas a subsidiary of cabot corp cbt to resume lng export company officials told 
m 3 which is non personal fixed term deposits and foreign currency deposits of residents booked at chartered banks in canada rose 321 mln dlrs to 21667 billion dlrs
the proposed rules were outlined today in a consultative paper on large credit exposures taken by recognized banks and deposit takers and may be modified the bank said
the company said the 1987 share forecast is based on 25 mln shares outstanding after a one mln common share issue on december 30 1986
alcan aluminium ltd is closing its aluminum smelter in ludwigshafen west germany this june due to high operating costs an alcan spokesman said
franklin california sets monthly payout
the deal which requires swedish government approval will raise the percentage of foreign voting rights allowed in the medical group to 225 pct from 20 pct astra said
feds johnson says fed acted to stabilize dollar
the minister believes that market forces will push the dollar back up from its record low of 14470 yen today according to the spokesman
carburos metalicos of spain has bid 2205 francs a share for french chemicals group duffour et igon rivalling the 2100 franc bid announced yesterday by union carbide france the french subsidiary of the us chemical giant union carbide corp ukn the stockbrokers assocation csac said here
its rate will be reset by subtracting the product of 18 times libor from 21975
andrew barrett of citicorp investment bank switzerland ag said the warrants give smaller investors a chance to have a long term investment in gold with limited risk citicorp in zurich launched the first of these warrants on february 27 following it up with a second issue less than a week later
the rights trade in tandem with rexnords common stock
in the near term however analysts said with seven billion dlrs in assets citicorp savings is still not a major force in the thrift market against such large california thrifts as home federal great western financial corp gwf h f ahmanson and co ahm golden west financial gwd and great american first savings bank gta
lucas industries plc lucsl halfyear ended jan 31
soybean supply demand by country usda
the united states is fully entitled to take military action in exercise of rights of self defense in the face of the imminent threat of further attacks howe said in a statement issued in london
it seems these shells arose from an exchange of fire between iran and iraq no one was wounded and there were no losses diplomats said shells from the nearby iran iraq warfront had in the past fallen in the northern kuwaiti desert
city national corp ctyn raises dividend
total net reserves including reserves held by commercial and major savings banks rose to 3826 billion crowns from 3011 billion in january compared with a revised 3599 billion in february last year
the funds were raised through bcis first such fund the baring euaring european capital trust from investors in nine european countries
chemlawn said its rights plan is designed to protect shareholders against abusive tactics such as market accumulations by waste management or others under the plan one comon stock purchase right will be distributed as a dividend on each outstanding share of chemlawn common
allegheny ludlum corp als 3rd qtr net
gros defended brazils recent economic record noting inflation slowed in february the trade surplus rose and the public sector budget was in operational surplus
the issue was raised from an initial offering of 140 mln dlrs
ryans family steak house ryan sets split
the uk government launched an investigation into the affairs of guinness last december
last year a sumitomo life insurance co official was appointed to ef hutton group inc unit ef hutton and cos board and sumitomo bank ltd spent 500 mln dlrs to become a limited partner in goldman sachs and co
it said that underwriters mcleod young weir ltd and wood gundy inc agreed to acquire the issue at 25568 dlrs a share with yield to retraction on october 15 1991 of 7 1 8 pct a year
knutson mortgage corp knmc sets quarterly
the pork standard price is now 540 yen per kilo and the ceiling 760
however the group would not seek a listing for the time being
santa fe southern pacific corp said it filed a petition asking the us interstate commerce commission to reconsider its earlier rejection of the merger of the holding companys railroad assets
the american approach is full of contradictions jardine flemings edwards said
cannon can audit to show significant 1986 loss
when asked whether gaf would consider selling the non chemical assets of borg warner if its takeover offer is accepted heyman declined to comment
the plant will supply its nuclear power industry
he told that colombia because of the relatively high level of its coffee stocks would probably suffer less
oil stocks on land in the united states and canada were put at 2066 mln tonnes down from the 214 mln tonnes on january one and equivalent to 94 and 98 days of consumption respectively
uk september m3 rises 08 pct m0 up 08 pct bank of england
club med inc cmi 1st qtr jan 31 net
mexico will also sign agreements to reschedule 523 billion dlrs of debt
but while recognizing that soybeans are priced too high in relation with corn soybean groups have pledged their support to maintaining current price supports for soybean growers
he urged the indonesian government to do more to help the countrys coffee traders through the ico negotiations
uk money market deficit forecast at 800 mln stg
the study examined seven factors which have been commonly blamed for the trade deficit foreign government subsidies and trade barriers to protect foreign industries a lack of investment in us industry declining research and development in us industry high labour costs union work rules the oil prices rises of the 1970s and us antitrust regulations
m
mcivor said that many of the large fields outside the us like alaskas prudhoe bay and the north sea were reaching a peak and would soon begin to decline
shr loss one ct vs loss 216 dlrs net loss 30000 vs loss 124 mln revs 274 mln vs 383 mln
still forecasts for first quarter gnp could play a role in the direction of bond prices over the next month
wr grace gra debt affirmed by s p
the bank said there would be no auction this week because of the easter holiday
the company said medtecs new client base could have a significant impact on long term revenues although it expects a minimal positive impact on earnings in the next six months
it said it is continuing to review its investment and has made no determination of its future course of action
argentine oil gas production fall in february
production quotas set for the first time in 1987 88 had been submitted to president corazon aquino
year 1986 and prior excludes loss discontinued operations 3509000 and 5278000 respectively
the funds raised will partly finance two ethylene factories near shanghai
kuwaiti oil minister sheikh ali al khalifa al sabah said opec was producing well below its oil output ceiling and this would help prices move higher according to a kuwaiti newspaper interview
citgo last changed it crude oil postings on sept 9
however investment bankers noted that ubs was the first foreigner to break into the us market when it won a competitive bidding in june 1986
the us crushing industry in its complaint under section 301 of trade law said higher argentine export taxes on soybeans than on products encourage the export of products and represented an unfair trade practice
st
most countries have no prospect of paying their debts in the foreseeable future
this was 519 pct up from 4998 billion at the end of november and 4185 pct up from 3709 billion in december 1985
kdi said completion of the transaction is subject to governmental approvals and the approval of triangle microwave shareholders and the transaction is valued at over 35 mln dlrs
thailand exported 1816 tonnes of tin metal in january up from 1731 in december and 1330 a year ago the mineral resources department said
mexican supplies which have sometimes swelled lme stocks have been normal but are finding ready buyers traders said
the bank also set a lira mark rate of 41720 41929 to the mark up from the previous 41915 42125
offer for dome may short circuit its debt talks
levy predicts gnp will grow at a scant 15 pct rate in the first quarter of 1987 accelerate during the second quarter and show a brisk 45 pct annual rate in the third quarter
we would like the business administration court in the hague to ask the luxembourg court of justice not only whether the dutch grain commodity board the levy collection agency has interpreted the levy regulations correctly but also whether the regulations themselves may contravene european law pex said
a defense department spokesman said the agency was unaware of schlumbergers announcement and would have no immediate reaction
noranda inc said a copper mine fire that killed one miner and trapped 44 others for nearly a day caused an estimated 10 mln canadian dlrs in damage
sen
the price will be used in determining first handler cotton certificate payment rates
consumption in venezuelas internal market increased from 323000 bpd in 1985 to 342000 bpd last year
just before the opening the dollar dropped swiftly as speculators concluded the group of seven g 7 comminuique issued in washington contained nothing basically new they said
tmoc shares today closed five cents up at 415 dlrs on turnover of 182000 shares while santos due to release its profit result today rose eight cents to 450 dlrs on volume of 245000 shares
trade says ec sugar tender hard to forecast
gaf gaf seen raising borg warner bor bid
changes in these standards must be agreed upon multilaterally
citicorp cci denies rumors of debt writedown
traders said the recommendation by smith barney analyst james barlage which focused on the relief the company will get from the dumping situation and the subsequent earnings momentum as a result of that action helped to propel the stock higher today
the agency also said the b 1 rating continued to recognize a highly leveraged debt structure that would result from holidays recapitalization program as well as the companys dependence on property sales to produce adequate cash flow for near term debt service
the ccc issues dollar denominated pik certificates or certs as a partial substitute for direct cash outlays to farmers or cash subsidies to exporters
note company is wholly owned subsidiary of royal dutch shell group rdas
gale force winds buffet great lakes
in a despatch yesterday from washington quoted the official as saying manilas plan to pay some interest with notes that could be converted into equity investments in the philippines was fully consistent with the reagan administration strategy for handling developing country debt
a permian spokesman said that the south louisiana sweet posted prices was also raised 50 cts a barrel to 1735 dlrs
the study said the combined gcc bugdet deficits would rise to 232 billion dlrs from 179 billion last year
it said stearns president and controller had resigned
he said fleet is optimstic connecticut law which only permits interstate banking mergers within new england can be amended
vulcan is working to resolve the problems miller told shareholders adding it appears it will take most of 1987 to find solutions
finlands national oil company neste oy neoyhe said in a statement it had agreed with canadian firms to study the feasibility of building a plant in edmonton canada to produce a replacement for lead in petrol
brazils 14 bank advisory committee expressed grave concern to chief debt negotiator antonio padua de seixas over the countrys suspension of interest payments according to a telex from committee chairman citibank to creditor banks worldwide
officials said the corporations assets rose to 131 billion dollars last year from 104 billion at the end of 1985
pete domenici a main sponsor of legislation to set an oil import fee said the administrations energy security report was based on flawed economic assumptions
inverness petroleum ltd said it acquired the oil and gas assets of its controlling shareholder silverton resources ltd for 264 mln dlrs effective march 3 1987
shr and avg shrs data reflect two for one split in december 1986
this compares with the banks estimate of a shortage in the system of around 300 mln stg which it earlier revised up from 250 mln
jefferies making market in usair u 
carver corp cavr 4th qtr net
chase manhattans nicol took a different view however
the company said in its annual report that its nonpharmaceutical business will play a major role in meeting its earnings growth target and will in fact grow faster than its pharmaceutical business
usda estimates canadian crops
a spokesman for denmarks largest beet concern de danske sukkerfabrikker a s said its 1987 sugar target was unchanged from 1986 at 365000 tonnes from a steady area of 60000 ha
dual agreements included in the fta allow israel to act as an economic bridge between the us and europe enabling us firms to export to europe at lower cost if a certain percentage of the exported is produced in israel and vice versa
halcyon has stake in research cottrell rc 
freedom federal frfeo seeks buyer
it looks good diaz said
business loans on the books of major us banks excluding acceptances fell 108 billion dlrs to 27637 billion dlrs in the week ended april 8 the federal reserve board said
the company said it would report full year 1986 net income of 200 dlrs per share compared to 232 dlrs per share in 1985
fretter inc fttr 4th qtr jan 31 net
indonesian exports of cpo in calendar 1986 were 530500 tonnes against 468500 in 1985 according to central bank figures
the treasury said future cts issues likely would be certificates longer than seven years
dixons said it got and accepted only 20 pct of cyclops shares in tender
chevron corp chv jumped 1 1 8 to 58 7 8 and texaco tx climbed 1 4 to 37 3 4
the bank of france expects a continued revival in short term industrial activity but the outlook for any improvement in frances record 109 pct unemployment rate remains bleak the bank of france said in its monthly review
the bank also announced the rates applicable to temporary lending facilities rolled over today
taiwans m 1b money supply rose a seasonally adjusted 4822 pct in the year to end february after rising 5496 pct in the year to january a central bank spokesman said
noble broadcast group inc said it filed with the securities and exchange commission a registration statement covering a 50 mln dlr issue of senior subordinated debentures due 1999
bolivian debt buyback plan said gaining ground
crude oil output controls did not necessarily mean higher energy bills for the worlds industrial nations lukman said
we must try to make sure that more capacity is injected into the turkish economy in the coming years
argentina bolivia costa rica and others are also pursuing normal negotiations with creditor banks while at the same time pressing hard for better terms particularly lower interest rate spreads
southland slc unit raises crude 50 cts bbl
in a related transaction quest blood said it executed an agreement with alza corp which will make alza a preferred shareholder of quest blood and offer alza the right to acquire a total equity position of up to 25 pct of quest blood in exchange for acquisition of patent rights to alza technology
c and h bancorp has assets of 257 mln dlrs and is the parent company of citizens heritage bank na the companies said the agreement calls for each of the about one mln shares of c and h bancorp to be exchanged for one share of fifth third bancorp
nippon oil co ltd which had the largest share of refined products sales in the japanese market in fiscal 1985 cut nine pct of its refining capacity in fiscal 1986
campbell resources cch ups meston lake stake
corrected rexnord rex to sell railway unit
revenue has been adversely affected by depressed commodity prices and slowing of the economy
indonesian palm oil production is forecast to fall about eight pct during jan may but to rise from june on
the three units include 12 plants throughout the us the company said
the imf urges a strong interest rate policy to signal the governments determination to keep its currency strong and to curb inflation
coastal bancorp said the us federal reserve board approved the acquisition of coastal by suffield financial corp ssbk the acquisition still requires approval from the banking department in maine the company noted
the companys total revenues in 1986 declined to 4823 mln dlrs from 7625 mln dlrs the previous year
receipt of the minimum amounts under the offer would give first boston sufficient voting power to assure approval of the merger without the affirmative vote of any other shareholder the company said
company official andre fortier said we are hopeful that we can settle without any kind of work interruption fortier added that brunswicks estimated 500 unionized smelter workers were currently meeting about a noranda contract proposal and would probably vote next week
last years gnp growth put earlier at 013 pct was revised to 151 pct
usda reports corn sold to ussr
fao said it has also approved more than 14 mln dlrs of food aid for 8000 families in sri lanka
foreign firms have invested 21 billion dlrs on offshore china since 1979
azpur told reporters after a cabinet meeting that the measure is fundamental to conserving the economic and financial strength of the petroleum industry he said the new exchange rate which goes before the central bank for final approval tommorrow will allow the state oil company petroleos de venezuela sa pdvsa to solve its problem of working capital and implement investment plans estimated at 20 billion bolivars for 1987
state owned societe generale one of the three leading french banks with a share capital of 1375 billion francs and consolidated assets of 738 billion was added to the list of this years privatisations in february
these securities have become very difficult to sell despite a rise in their yields said one corporate bond trader
japans beef import quota in 1987 88 was set at 93000 tonnes against 85000 for the same period in 1986 87
some said it was likely to return to within the target range later this year
ongpin has said that us regulators and accountants had given a green light to his idea but bankers are not so sure
spain had a 35 mln dlr current account surplus in february compared with a 68 mln dlr surplus in january and a 355 mln dlr surplus in february last year bank of spain figures show
additionally the company said kwvt which serves 785000 homes began broadcasting home shopping network full time this morning under an affiliation agreement
giant bay resources ltd said a metallurgical study of its gordon lake gold deposit indicated an overall recovery of 95 pct to 96 pct of the gold can be achieved by either direct cyanidation of ore or flotation followed by cyanidation of concentrate
a twa spokesman said the company has filed an application for approval on its offer to buy usair with the department of transportation and later today it will file a response to usairs motion with the dot to dismiss the twa application
the company said 423 feet of the hole graded 092 ounce per short ton of gold including a 175 foot section grading 217 ounces
ascs terminal market values for pik grain
he said in response to a reporters question after the banks annual meeting that money market rates could decline further but i dont think the fed is going to encourage that as long as the exchange markets are as volatile as they are on the other hand he said that barring a collapse of the dollar he did not see rates going much higher
in its suit transamerican alleged that coastal and wyatt are notorious corporate raiders who have been restrained in the past from taking over other corporations in their attempt to create a stranglehold position from which they could control and raise gas prices it is obvious that coastals efforts to improperly take over transamerican is a thinly veiled attempt to control a larger share of the texas gas market to the detriment of end users and consumers the company alleged
the recent purchase of 15 mln tonnes of us corn by japan and 600000 tonnes by south korea suggests that the two countries demand for reliable supplies of corn is increasing the us agriculture department said
the company said first tuskaloosa shareholders will receive 1978825 shares of amsouth stock for each first tuskaloosa share held when the merger is effected april 17
the statement triggered a rise in other brokerage stocks as investors speculated on the possibility of more investment in the us brokerage industry by japanese concerns
australian oil tax cut seen boosting output
the bank of england said it had revised its forecast of the shortage in the money market down to 450 mln stg before taking account of its morning operations
the present oil marketing policy of adnoc is based on adherence to opec decisions of december 1986 to control production and establish a new pricing system in an attempt to stabilize the market he added
todays action by the us was not escalatory pyne said
the brokerage firm said it bought the allegheny shares march 30 april 2 for 8650 8725 dlrs each
coffee exports rose to 753 mln dlrs from 580 mln in 1985 but rubber shipments fell to 625 mln from 720 mln and tin to 1806 mln from 246 mln weekly central bank figures show
mexico denied reports that british banks are resisting signing a 76 billion dlr new loan and rescheduling package
trade unions calculate wage settlements have produced average rises of 73 pct against 55 pct estimated by the employers federation ceoe
however 1987 first quarter production from its mclaughlin reserve will be about 10 pct lower than last years 45400 ounces due to start up production problems
but the chamber of commerce and industry said the crackdown would scare away entrepreneurs
consumer delegates said they were optimistic the council could reach agreement on the rules fairly quickly
the agency could buy up or guarantee developing country debt at a discount and resell it to debtor nations undertaking economic reforms
unionist urges retaliation against japan
recent purchases of us corn by the soviet union have skewed the domestic cash market by increasing the price difference between the premium price paid at the gulf export point and interior levels cash grain dealers said
the company did not immediately disclose the actual new prices
the international wheat council iwc lifted its estimate for 1986 87 world wheat and coarse grain production by one mln tonnes to a record 1377 mln compared with 1351 mln tonnes the previous season
kaneb energy partners ltd kep 4th qtr loss
nzi has 6734 mln ordinary shares on issue
huge oil platforms dot gulf like beacons
the first a part will consist of a maximum 400 mln dlrs with a maximum spread of libor plus 3 8 pct
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
iranian and western diplomats say iraq started the war by invading irans territory in 1980
there is no doubt in my mind about the willingness of our trading partners to retaliate against unfair trade legislation yeutter said adding that policy flexibility is essential in solving international trade problems
cumulative export authorisations for the current 1986 87 season now stand at 1915270 tonnes 40 weeks
but economists said the proposals are unlikely to involve more than tinkering with technical details
oper shr profit one cts vs loss 22 cts oper net profit 35000 vs loss 948000 revs 174 mln vs 138 mln six mths oper shr loss 23 cts vs loss 48 cts oper net loss 1025000 vs loss 2093000 revs 325 mln vs 276 mln note results exclude credits of 1737000 or 39 cts shr for both 1987 periods from refinancing of debt
shr 30 cts vs 12 cts net 3059000 vs 1258000 revs 362 mln vs 291 mln nine mths shr 67 cts vs 24 cts net 6855000 vs 2442000 revs 1009 mln vs 778 mln
us officials said they are encouraged by the outcome in a similar case covering european pasta imports
ford said in addition extrusion dies cost 1000 to 12000 dlrs each compared with hundreds of thousands of dollars for steel stamping dies and using extruded aluminum the number of welds in a car could be reduced to about 40 from over 2000
pakistans decision to suspend tea import licences will hurt kenyan tea exports in the short term while exporters seek new markets sources close to nairobi broking houses and exporters said
universal resources corp said it is holding a special shareholders meeting this morning to vote on the previously proposed merger between it and questar corp str universal whose stock was delayed this morning on the american stock exchange said it will release a statement later in the day on the vote
meditrust sbi mt 3rd qtr net
the central bank said the high rate of investment estimated for 1986 was due to government policies and to increasing optimism among firms whose financial situation had improved since 1985
no intervention dollar fixed at 18162 marks
the interest payment is being made in line with the terms of a previously announced agreement in principle it reached with an unofficial committee of senior bondholders
the company said the technology combines a unique substrate with two indicator enzymes in a diagnostic assay to measure serum amylase levels
soymeal futures trade totalled 76340 tonnes against 90680 in january and value declined to nine mln stg from 10 mln
sri lanka to uproot or bud diseased rubber trees
the company has about 21 mln shares outstanding
shr 84 cts vs 80 cts net 82416000 vs 67819000 revs 7039 mln vs 7597 mln avg shrs 98369307 vs 84807498 loans 1906 billion vs 1951 billion deposits 2160 billion vs 1986 billion assets 2716 billion vs 2715 billion note prior qtr per shr figure adjusted for three for one stock split of may 1986
frances cff to issue 500 mln francs bonds
the surplus is expected to fall further in 1987 the statement said but gave no details
its foreign reserves ended 1986 at 35 billion dlrs equivalent to more than nine months of imports and non financial services and gdp growth is again expected to reach five pct this year gaviria said
united said the approval would lead it to an equity return level comparable with the electric utility industry average
japan personal savings soar in 1986
its move followed a signal from the bank of england earlier this afternoon that it would endorse a half point cut in the base rate a surprise move following its strong signals last week that such a move would be premature
transtar said it will add a third daily nonstop april one from new orleans to los angeles bringing to 10 the total of non stop and connecting flights to that city
they predicted exports will increase by 23 pct in the january march quarter from the october december quarter
margoshes said the bp action is an articulation of the underlying value of oil companies in the marketplace but he expressed skepticism that this will necessarily lead to heightened merger or buyout activity in the oil group
james capels fellner noted that by being fiscally prudent lawson had kept open the possibility of an autumn election in that there would be no chickens coming home to roost richard jeffrey who favours the likelihood of a june election said it was important the chancellor had not gone for a budget aimed overtly at buying an election victory
brazilian finance minister dilson funaro who suspended interest payments to creditor banks two months ago said creditors had to trust him when he said brazil would achieve a trade surplus large enough to continue servicing its debt
the main reason for the slower rate of economic growth was a drop in the real value of agricultural output
habbel said audi expected the rise in output to lead to further new hiring of employees
adams russell aar to acquire cable systems
giant food inc reported sales on a 52 week basis ended last month increased 104 pct to 248 billion dlrs compared to 225 billion dlrs for the prior 52 week period
ael industries inc aelnao first qtr net
subscriptions to 300 mln guilders were met in full amounts above 300 mln at 50 pct
intermedics inc itm 1st qtr net
the existing quota system is far too rigid and does not reflect supply and demand reality he said
the government is also lowering its borrowing requirements through bond tenders as a result of the surplus
skyline said the 1987 exploration drift on 16 vien east at johnny mountain has advanced 320 feet
dealers noted that money market rates again eased this morning and the bank may have refused bill offers from the discount houses at rates below its established dealing levels
uk officials study salmonella calf feed link
private exporters concluded advance weekly sales for 79448 tonnes against 79014 the previous week
a weak dollar a lower tax rate and strong mainframe computer sales all contributed to the better than expected first quarter results analysts said
cable and wireless director of corporate strategy jonathan solomon yesterday again told ministry officials he opposes a merger proposal that would limit cable and wireless share to less than three pct and total foreign participation to about 20 pct the ministry official said
qtly div 15 cts vs 125 cts prior pay may 1 record april 17 note prior dividend is adjusted for recent six for five stock split
denmarks net foreign debt rose to 129 pct of total exports in 1986 from 83 pct in 1983 s and p said
shr profit 49 cts vs loss 41 cts net profit 543000 vs loss 457000 revs 104 mln vs 142 mln year shr loss 71 cts vs loss 211 dlrs net loss 781000 vs loss 2325000 revs 389 mln vs 449 mln
standard and poors said it placed 66 billion dlrs of chrysler corp securities on creditwatch with negative implications because of its plan to acquire the outstanding common shares of american motors corp amo from renault acceptance bv for about two billion dlrs
healthmate inc said its auditors laventhol and horwath indicated they will issue a qualified opinion on the companys financial statements
there were few offers in a tight market and traders scrambled for any available funds
bank of canada governor john crow said he expects the canadian economy will grow moderately in the coming year despite the near flat growth in the final quarter of 1986
but bankers said the high real interest rates on offer now around eight pct for overnight funds was attracting money from abroad strengthening the peseta and making spanish exports less competitive
interfinco sets 50 mln sfr five year convertible
the crowd one of the largest to attend a meeting since south africa declared a state of emergency last june also shouted approval of a proposal to work closely with anti apartheid movements such as the united democratic front udf which claims two mln members
cognitronics corp cgn 4th qtr loss
conrac is a producer and marketer of computer related information display and communications equipment which also produces special purpose architectural and industrial products
jacobs takes majority stake in cote dor
the tender was announced last friday because carnival festivities closed banks in duesseldorf yesterday and will close banks here this afternoon
sri lankan minister seeks loan facility from imf
the division had a turnover of 32 billion markka last year 42 pct of outokumpus group turnover of 758 billion
us officials defend oil reserve sale plan
south korean won fixed at 25 month high
the notes are rates b 2 by moodys and ccc plus by s p
the corresponding yield jumped to 783 pct from 766
kato added japan is the largest customer for us grain and depended on domestic output for only 53 pct of its food requirements in 1985
japans agency of natural resources and energy said it will begin experiments with thailand at the end of march to start commercial production of rare metals in 1989 under a joint project
1335 mln crowns vs 101 mln
keycorp said it has filed with the securities and exchange commission for the offering of 75 mln dlrs of subordinated capital notes due march 1 1999
consumer credit fell a seasonally adjusted 63 mln dlrs in march after rising 101 billion dlrs in february
last week the european commission accepted 785000 tonnes of sugar into intervention by operators protesting about low rebates
the labour council affiliated to the australian council of trade unions actu had threatened to paralyse new south wales unless the government modified its pending legislation on the issue
the world bank has lent indonesia 107 billion dlrs over the past 20 years
seasonally adjusted export and import figures were not available
this compares with its forecast of a shortage of around 800 mln stg in the system today
proposed offerings recently filed with the sec
us m 1 money supply rose 21 billion dlrs to a seasonally adjusted 7367 billion dlrs in the february 16 week the federal reserve said
that volume of aid does not appear difficult they said japan the world bank and the adb are expected to provide most of the financing while the philippines 12 bilateral aid donors would contribute the rest
the stocks have run an incredible way cohen said
troon will acquire a majority stock interest and control of the board
the dealers said the speculation appeared to originate in japan
cycare systems inc said it bought control data corps cda medtec unit for an undisclosed sum
this means the effects of the two year rise of the yen against the us dollar are finally beginning to have an impact on exports they said
the bank of france is generally expected to give a signal to the market possibly at the beginning of next week by announcing a quarter point cut in its intervention rate which has stood at eight pct since january 2 or in its seven day repurchase rate set at 8 3 4 pct since january 5
rowe furniture corp rowe 1st qtr feb 28
malaysia the worlds largest producer was seeking cabinet approval to join the new inra and hoped other producers and consumers would also become members he said
bally manufacturing corp said it is considering the sale of its six flag theme amusement park unit and would use the proceeds to pay off debt
miller said he was concerned the fed might overreact to signals of rising inflation by tightening credit a move he said could have political consequences the white house budget chief appeared to be referring to the effect an economic slowdown could have on the presidential and congressional elections next year
shr 142 dlrs vs 161 dlrs net 136 mln vs 155 mln note net asset value per share 7772 dlrs vs 5435 dlrs
asked by sen phil gramm r tex whether us intervention was not in fact overvaluing the dollar mulford replied that the administration judged that after economic adjustments current exchange rates reflect underlying economic fundamentals
although market expectations are for february us retail sales thursday and industrial production friday to show healthy gains figures within or slightly below expectations would be positive for the market the analysts said
washington is also angry over other ministry moves which it says have limited access for us firms to japans car telephone and satellite communications market
he saw a growing likelihood that other countries would follow perus action in setting a 10 pct debt payment limit in the face of trade and other factors beyond debtors control such as minimal bank lending
shearson lehman brothers holdings she 3rd qtr
the two year notes mature march 31 1989
concepcion told in an interview that the informal general agreement on tariffs and trade gatt meeting gave ministers from more than 20 nations the chance to examine issues with which gatt did not have the political will to deal
arbed had managed to make a 890 mln franc net profit slightly down from the 112 billion profit in 1985 thanks to lower raw material costs and prudent management the company said
the unit makes custom gears for industrial use and had sales of 84 mln dlrs in its oct
first mississippi corp frm sets payout
harahap said it was better to import to cover a temporary shortage than to lose export markets
it now appears that consumers may consider dropping their insistence of a downward adjustment of the floor price called the lower indicative price under certain circumstances
wellemeyer said that sharp declines in us oil production could push demand for opec oil above 20 mln barrels per day as early as 1989 and up to 24 mln barrels per day by 1993
relevant measures are likely to be announced at the next us japan yen dollar committee meeting on the deregulation of tokyos financial market expected in may they said
the executives were in new york for meetings with institutional investors aimed at increasing interest in the companys stock
representatives of sugar growers have rejected the proposal saying it would ruin the domestic sugar industry
qtly div 43 cts vs 43 cts prior payable may one record april 15
all shares tendered to waste management will be returned to shareholders as soon as practical it said
resdel rsdlo san bar sbaro in merger deal
excluding brazil non accruing loans at quarters end were 583 mln dlrs down from 633 mln at end 1986 and 684 mln a year earlier
bank of japan keeps intervening to hold dollar above 149 yen brokers
if those comments do signal that the state department is no longer opposed to the us selling wheat to the ussr under eep it certainly improves the chances for an eep wheat offer to moscow an industry lobbyst said
eli lilly and co said its board decided to sell elizabeth arden inc a wholly owned subsidiary that manufactures and markets cosmetics and fine fragrance products
foreign brokers may get more access to japan bonds
indian countertrade which is being promoted mainly to help narrow the countrys large trade deficit is still insignificant compared with agreements reached by indonesia venezuela and brazil the trade sources said
he did not give a specific earnings projection but he told reporters the firm will pay total dividends of not less than 19 cents a share this year after a one for four bonus issue and a four for one stock split
xonn said its net profit result included the reintegration of 12 billion francs of provisions for exchange fluctuations
british petroleum co plcs announcement that its us subsidiary intends to tender for the 45 pct of standard oil co srd it does not already own catapulted us oil stocks sharply higher this morning traders and analysts said
the panel is due to submit its report by april 15
five year government bond rates are currently 1840 pct and the key indicator 30 day bank bills 2653 pct
a dividend of 11 marks would be proposed for the companys new preference shares
siemens already owns the remaining 35 pct of tel plus
all sales must be registered and exports completed by sept 30 1987 it noted
offshore investment firm ups france fund stake
to stabilise supply demand relations which have been disrupted by excess inventories since 1985 will take some time he said
at cbs and abc where the writers guild of america has been on strike since early march viewers have noticed little difference in the programs
economic analysts added however that any delay to exports served to aggravate brazils balance of payments crisis which last month prompted the government to suspend interest payments on 68 billion dlrs of commercial debt
qtly div 10 cts vs eight cts prior pay april 16 record march 31
the company said that the average price for oil and gas declined 41 pct in 1986 from the previous year sparking a 38 pct decline in its earnings from exploration and production
plenum publishing plen registers debentures
baker bko to sell oilwell pump unit
federal funds which averaged 633 pct yesterday opened at 6 3 4 pct and traded between there and 6 3 8 pct
galactic resources ltd galcf year loss
a small investor group led by melvyn gelch a providence ri surgeon told the securities and exchange commission it has acquired 60840 shares of datarex systems inc or 55 pct of the total outstanding common stock
twa twa makes merger offer for usair u 
wausau paper mills co wsau 2nd qtr net
espinosa said the 32 km stretch of the link built on the ecuadorean side cost 105 mln dlrs
the company is especially attracted by the scale and depth of us money and credit markets and wants to establish a firm foothold there the spokesman added
mazda motor corp maztt 
the company said it has about 215 mln shares outstanding
mai plc mllll six months to december
it also said it expects the relationship to extend to selected projects involving american express shearson lehman and nippon life in key financial centers of asia and other regions and to future personnel exchanges
schmidt chiari did not elaborate on his dividend forecast
goodrich gr to phase out some businesses
a final compromise proposal on cocoa buffer stock rules presented by international cocoa organization icco council chairman denis bra kanon is swiftly gaining acceptance by consumer and producer members delegates said
the 93 level is formidable resistance and must be taken out before this activity is anything other than a trading range market carroll mcentee and mcginley futures debt analyst brian singer said
ec warns congress on new trade bill
the west german intervention board said it accepted 962192 tonnes of grain from the start of the current agricultural year to the end of last month compared with 18 mln tonnes during the july february period in 1985 86
indonesia rejected world bank recommendations for sweeping reforms to its farm economy as the countrys foreign aid donors met to consider giving it 25 billion dlrs in grants and soft loans
swedens ab lm ericsson has also submitted a bid for the maximum 20 pct permitted in association with french defence electronics group matra which would hold between 40 and 49 pct and construction group bouygues matra has already acquired cgcts private telephone business
lindners investor group recently raised its taft stake to 1489298 shares or 162 pct from 1439498 shares or 156 pct after buying 49800 shares for a total of 58 mln dlrs
the index base 1980 stood at 135 in february a fall of one point compared to january against 142 in february 1986
in a speech today in the northeast city of dalian us secretary of state george shultz said his country welcomed chinas interest in participating in gatt
it gave no further details
asked how long that would take he said we want to see a pattern of compliance so in a minimum i would say that would take a few weeks yeutter said he did not think there would be much consumer impact by the tariffs on 300 mln dlrs worth of japanese goods because the items selected are also readily available from other countries and manufacturers
finance minister kiichi miyazawa said the government had expected the increase and had set aside money to help 300000 people find jobs in fiscal 1987 beginning in april
the commission has proposed several cost and production cutting measures which include the introduction of a maximum guaranteed quantity system he added
the rest are in government treasury bills certificates of deposit and bonds
941 mln parent company net profit 1538 mln francs vs
so far this year api said growth in domestic demand which was up 29 pct from last years year to date level has slowed in comparison to the accelerated growth in the last half of 1986
taiwan issues 12 billion dlrs of bonds
he declined to name the other companies involved in the talks
among sumitomos problems are limits placed on its move to enter us securities business by taking a share in american investment bank goldman sachs and co
careplus inc cpls 4th qtr net
unicorp american corp uac 4th qtr net
the bonds will be due march 1 1990 and are priced at 999375 pct to yield 686 pct
yeutter is in new zealand for a two day informal meeting of trade ministers who are reviewing the uruguay round of the general agreement on trade and tariffs gatt he said he will meet the japanese delegation over the next few days but declined to discuss methods of relieving the strain between the two countries
it appears reasonable progress is being made in the talks mulroney said
mcdonalds mcd files 300 mln dlrs shelf offer
colombia recently bought 25000 tonnes of french soft wheat at 108 dlrs per tonne c and f for end april shipment trade sources said
the peoples daily said henan shaanxi gansu and hebei are also suffering from drought
he was also fined 5000 dlrs
traders in london said indonesia has issued licences to local operators to import around 135000 tonnes of palm oil starting in april but the spokesman said this was incorrect
the official denied trade reports that the government might have substituted a private deal with islamic corp for the original tender
taiwan to study suspending forex controls
the bank said the recipient of the 20 year loan will be oil india ltd oil which is the smaller of two public indian petroleum exploration and production companies
hertz realty corp is issuing a 75 mln canadian dlr bond due april 30 1993 paying nine pct and priced at 100 3 4 pct syndicate sources said
although us banks do not have to put loans on nonaccrual until they are over 90 days past due morgan said some of the loans affected by the brazil payment freeze may reach the 90 day limit during the second and third quarters
prior year earnings restated to reflect recapitalization plan
uncertainty surrounds ec sugar tender result trade
it said rc mills president and general manager of its exploration and producing southeast inc has been named vice president and general manager of the new operation reporting to pj hoenmans president of its exploration and producing division
september exports were 2694 billion dlrs slightly down from 276 billion dlrs in august
but some analysts say they fear that balladur chief architect of the governments free market policies may be pursuing a mirage
borrowing in the december quarter rose to 392 billion from 179 in the september quarter and 611 mln a year earlier
president leon febres cordero said two days ago that ecuador an opec member would have to suspend crude exports for four months due to the quake
uk trade wary of higher ec grain levy
this compared with a slim 01 pct rise in januarys production number previously reported as a 04 pct increase
shr nine cts vs 17 cts net 275000 vs 490000 rev 24 mln vs four mln six months shr 29 cts vs 31 cts net 885000 vs 884000 rev 61 mln vs 71 mln note companys full name is herley microwave systems inc
shr 45 cts vs 50 cts net 180 mln vs 199 mln sales 1161 mln vs 1088 mln year shr 101 dlrs vs 104 dlrs net 398 mln vs 411 mln sales 3045 mln vs 2781 mln note share adjusted for three for two split in june 1986
texaco canada last changed its crude oil postings on feb 19
gencorp says alternative to hostile tender to be announced within a week
for 1986 two thirds of income were from chemicals and propane
morgan bank plans warrants for gold at 425 dlrs
the agency also assigned an initial rating of b 1 to the companys 90 mln dlrs of senior subordinated notes due 1997
the panamanian liquified gas carrier nyhammer 48772 dwt was attacked by an iranian gunboat on may 24 lloyds shipping intelligence said
the conference expressed satisfaction about the positive results of the agreement signed in december 1986 by which opec re established the system of fixed price at a level of 18 dlrs per barrel supported by opec production ceilings distributed into national production levels
versatile to build polar ice breaker
on site production is rendered expensive by the high price of imports of essential ingredients
swiss and american banks had no trouble attracting top german managers
shr four cts vs 36 cts net 254000 vs 2063000 revs 1300 mln vs 1078 mln nine mths shr 23 cts vs 116 dlrs net 1336000 vs 6659000 revs 3709 mln vs 3137 mln
seaman furniture co inc said its board declared a two for one split of the companys outstanding stock
uk retailers expect consumer spending to accelerate in march after a disappointing increase in february according to a monthly survey by the confederation of british industry cbi fifty nine pct of the 325 retailers questioned for the latest distributive trades survey expected sales to be higher in march than they were in march 1986 with only six pct expecting lower sales
talks with the possible bidder are expected to be concluded shortly becor said adding its board will evaluate all then existing offers at that time
he said trade last year totalled 13 billion dlrs versus 700 mln dlrs in 1985
grain ships loading at portland
the acreage planted to sugarbeets will receive more than the usual amount of attention this year because of mounting concern that continued increases in domestic sugar production threaten the us sugar program industry sources said
exports of maize totalled 411 mln tonnes 374 pct up on a previous 299 mln
new zealand cancels weekly t bill tender
it said the assets purchased include processing agreements software maintenance contracts and the supporting software
it said vboice systems has received a 3600000 dlr contract to provide flp communications of dallas with voicemail systems through service bureaus located throughout the us and has also contracted to provide voicemail systems and administration to m and s communications
consolidated professor cpfto 1st qtr net
no quake damage at chuquicamata mine spokesman
american telephone and telegraph co does not plan to reduce its regular quarterly dividend of 30 cts a share on its common stock said james e
the acquisitions bring to its land position a total of 5100 acres of titanium zirconium and rare earth resources the company said
charter co qchr to complete reorganization
signs of concern about german prospects emerged recently when bundesbank central bank president karl otto poehl told bankers he would consider cutting west german interest rates if the fed was ready to follow suit
the transaction expected to be closed in march involves the controls divisions energy management and power line carrier product lines
season for soybean cake and meal begins oct 1
lutterbach explained the company has taken steps to improve financial and accounting controls primarily at western which were not adequate at the time of acquisition
iranian oil is also surfacing in the us gulf and the far east at reported discounts to its 1750 dlrs official price
its a worthwhile activity from their standpoint because these debts are not going to go away in the next year or two he said
the company said in a statement that societe generale bankers trust chase investment bank and credit suisse first boston would place the paper
hawker siddeley also said demand for new railway equipment was limited with export sales frequently restrained by customers financing difficulties
the ideal regime is a stable one not one where there is a constant change in policies mcivor said
shr three cts vs seven cts net 521 mln vs 112713 revs 51 mln vs 44 mln six months shr five cts vs 15 cts net 75605 vs 244119 revs 95 mln vs 95 mln
japan asks banks to moderate dollar sales jiji
they agreed however that further actions will be essential to resist rising protectionist pressures sustain global economic expansion and reduce trade imbalances
the outcome of todays european community ec white sugar tender is extremely difficult to predict after last weeks substantial award of 102350 tonnes at the highest ever rebate of 46864 european currency units ecus per 100 kilos traders said
theyve accomplished a great deal he said
it said orders at its harris graphics subsidiary acquired in june 1986 continue to run at a strong pace for the six months orders rose 35 pct over the corresponding prior year period or on an annualized basis are running at about 630 mln dlrs
the lesson of history is that once the inflation genie gets out of the bottle it continues to persist he said adding he would like the fed to tighten credit
the figures were polled by correspondents from oil traders industry executives and analysts in europe the middle east africa latin america and asia
private traders had argued that epac given its dominant position in the portuguese grain market had an unfair advantage over them
the world bank said it approved two loans to mexico totalling 205 mln dlrs to provide financial assistance to industrial companies and finance a project dealing with agricultural extension services
on the same day cpc announced it had agreed in principle to sell its european business to ferruzzi in a 630 mln dlr deal
the data we have in hand do not provide clearcut evidence that the deterioration in the trade balance has yet been reversed volcker said in remarks prepared for delivery to a luncheon for community leaders here
a french government team has arrived in antananarivo to negotiate a new 180 mln franc structural adjustment credit for the madagascar government diplomatic sources said
lupberger said a good portion of the improvement projected for the next three years comes from keeping the lid on operating and maintenance expenses
the wallenbergs stake in swedish match had previously amounted to 52 pct of the voting rights in the company
fed buying one billion dlrs of bills for customer account fed says
the market had been dominated by saudi arabias 11 banks foreign exchange houses in the kingdom and offshore banks in bahrain
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
matsushita electric industrial co ltd mct said it will issue a 200 billion yen unsecured convertible bond in the domestic capital market through public placement with yamaichi securities co ltd nomura securities co ltd nikko securities co ltd daiwa securities co ltd and national securities co ltd as underwriters
ford f nears gm gm in executive bonuses
a statement from oil said the 10 year loan carries a rate of interest 05 pct below japanese long term prime
the loans had been made by first city to oil producers and to oilfield service and supply companies
equiticorp holdings ltd equwwe now owns or has received acceptances representing 5993 pct of the issued ordinary share capital of guinness peat group plc gnspl equiticorp said in a statement
all we ask is a chance
for 1986 as a whole visible trade was in deficit by 83 billion stg sharply up from 1985s 22 billion shortfall and a 44 billion deficit in 1984
commenting on the countrys foreign debt fernandez said i think the philippine debt stock looms large because our own receipts from exports have not taken the same kind of leap forward as might have been suitable the foreign debt is projected by the central bank to reach 2904 billion dlrs by the end of 1987
it said the purchase reduces the number of shares of clark common stock to be purchased under its stock repurchase plan announced march 10
total erickson resources ltd tlexf year net
panama canal toll charges will not rise in the year to end september 1988 despite last octobers landslide which dumped 05 mln cubic yards of debris into the waterway canal commission administrator dennis mcauliffe said
hoechst ags hoechst celanese corp subsidiary said it plans to raise about 500 mln dlrs in us capital markets in three to four months
antwerp lagos 12000 mt bagged sugar 750 750 try liner discharge 5 20 4 a c e d and f man
it is ludicrous for the nations of the world to plough immense amounts of financial resources into the production of items that nobody wants to buy he said
technigen platinum corp said it initial results of a 13 hole drilling program on its rm nicel platinum property in rouyn noranda quebec indicate extensive near surface zones highly enriched in gold platinum and palladium were found in rocks on the periphery of a sulphide deposit
elders said leaving the carling preferred shares outstanding will not affect ongoing plans of the company
i dont think the central bank has a final target said an executive with a us bank
opec produced only about 14 mln bpd of oil in the second week of march 18 mln bpd below its ceiling largely because of pipeline problems in turkey and ecuador the middle east economic survey mees estimated
keating sees lower australian current deficit
the company said it recored net income of 4572000 dlrs or 30 cts per share for its first quarter fiscal 1986 on revenues of 350 mln
prices fell steeply when the danish bond market opened but recovered somewhat after the central bank cut the overnight money market lending rate to 105 pct from 11 pct
swiss unemployment falls to 09 pct in february
unless we get government relief the company will be bankrupt in three years he told 
kloeckner amp co kgaa the international trading group said its 1986 domestic group net profit fell by around 20 pct against 1985 adding that the profit resulted largely from a writing back of reserves
industrial equity pacific ltd a hong kong investment firm said it raised its stake in calmat co to 3712860 shares or 122 pct of the total outstanding common stock from 3312460 shares or 109 pct
shr 28 cts vs 22 cts net 14 mln vs 106 mln revs 1638 mln vs 1273 mln year shr 81 cts vs 59 cts net 405 mln vs 287 mln revs 5212 mln vs 3916 mln
treasury balances at fed rose on feb 27
the payment date is may 13
shr profit six cts vs loss nine cts net profit 101000 vs loss 142000 sales 126 mln vs 8736000 year shr profit 134 dlrs vs profit 102 dlrs net profit 2122000 vs profit 1611000 sales 523 mln vs 419 mln
cypress savings association cypsa 4th qtr loss
the report dated march 24 noted parana accounts for about 20 to 24 pct of brazils total soybean crop
taiwan announced the easing of import curbs on some 600 farm and industrial products last month a council for economic planning and development spokesman told 
the contract size will be 1000 barrels or 42000 us gallons
brazilian president jose sarney announced a move which temporarily legalises the purchase of us dollars in the parallel currency market aimed at promoting imports of foreign goods
now more than ever it is clear that latin america cannot pay under present conditions without sacrificing growth peruvian president alan garcia said referring to brazil
ltv said the bank credit agreement also provides for the funding on a revolving credit basis of about 160 mln dlrs of outstanding secured lines of credit in the event such letters of credit should be drawn in the future
he said the fed will purchase bills with maturities from may through september 10
we are very disappointed that pakistan took such action it will certainly hurt kenyas tea industry in the short term as pakistan is kenyas second largest market a source at one broking house told 
analysts reasoned that chrysler might feel moved eventually to sell off or close some of the older plants to cut overhead costs in view of the new debts and liabilities it would incur in the amc buyout
the european community ec and euratom the european atomic energy agency are expected to issue french franc eurobonds this month a treasury spokesman said
in a filing with the securities and exchange commission fidelity international ltd a bermuda based firm said its funds bought 68000 ldbrinkman common shares between jan 5 and feb 19 at prices ranging from 530 to 5445 dlrs a share
funaro and gros are today meeting british chancellor of the exchequer nigel lawson foreign secretary geoffrey howe and governor of the bank of england robin leigh pemberton
but few expect the calendar to be completely abolished
ramon diaz secretary of the presidential commission on good government pcgg said anheuser busch had told the government it was interested in buying 14 mln b shares of san miguel
butler manufacturing co said it completed sale of its livestock systems division and part of its control division in separate transactions to two unrelated parties
for years the softly spoken economist has been warning in speech after speech that excessive money supply growth would eventually lead to rising prices
under the agreement citizens shareholders could also trade their stock for a five year debenture issued by first commercial
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
the world bank is prepared to play a more aggressive role in promoting third world development and easing the debt crisis bank president barber conable said
if we stick to the production limitation the third quarter will be in better balance he said the market is in a period of transition while the impact of opecs december agreement to cut output and fix prices at an average 18 dlrs a barrel is worked through
bank of france leaves money market intervention rate unchanged at 7 3 4 pct official
analysts said those factors make cotton a profitable crop
terms were not disclosed
combined sales of the three companies in 1986 were over 50 mln dlrs it said
dollar seen falling unless japan spurs economy
there will be a tender panel for the acceptances and advances
it said details would be released tomorrow
he said the 1986 drop in the inflation rate the first fall in a decade was due largely to lower world prices for oil and oil related items
bristol myers co bmy 3rd qtr net
the company said its revenues were down due to lower foreign exchange rates and a change in accounting practice
the offer is not conditioned on receipt of any minimum number of shares but is conditioned on the arrangement of financing
gold could rise as high as 500 dlrs per ounce later this year said peter witte director of westdeutsche landesbank girozentrales trading division after a presentation by the us mint to promote its gold and silver eagle series coins
emery said pending the termination of pc acquisitions merger agreement pc has released purolator from an agreement not to discuss emerys acquisition proposal with emery
shr loss 34 cts vs loss 214 dlrs net loss 2275000 vs loss 9560000 revs 170 mln vs 199 mln year shr loss 49 cts vs loss 211 dlrs net loss 2661000 vs loss 9283000 revs 735 mln vs 936 mln note results have been restated to reflects equity investment in welltech inc for one month ended dec 31 1986 and its investment in american well servicing for the 11 months ended nov 30 1986 and full year 1985
spokesman fitzwater said we dont want a trade war but the imposition of sanctions showed the united states would act when it had evidence that trade pacts were being violated
washington natl wnt buys united presidential
however commission sources said the real cost was small if account is taken of the expense of keeping food in store until its quality and value deteriorates
p and o shares stood at a late 616 27p lower on the day
the payment date is march 25 and there will be a short first coupon period
the company said the offer is being made under a definitive agreement reached with the new company idc acquisition corp formed by apollo partners ltd and investment clients of equitable capital management inc the agreement calls for the acquisition of idc for about 624 mln dlrs
s and p cited the guarantee which is a senior obligation of the parent company the largest of the big four securities houses in japan
the bank of england said it has revised its estimate of todays shortfall to 750 mln stg from 700 mln
they were down 116 pct from february 1986 the department said
the international cocoa organization icco buffer stock could face an uphill battle to halt the downtrend in world cocoa prices when it begins buying operations in the next few weeks cocoa traders said
moulinex stake sold to some 50 institutions
citic in may agreed to invest about 80 mln dlrs in portland
it said proceeds from the proposed sale will be used to repay bank debt fund a deposit of the first three interest payments on the debenture repurchase 350000 common shares at 446 dlrs per share from former parent company plantronics inc plx and to fund future product development and marketing
even so some economists said that the manufacturing gains have resulted from an improving trade outlook
us price data suggest moderate inflation
nato holds emergency meeting on aegean crisis
the issue is guaranteed by gillette co and is available in denominations of 1000 and 5000 stg
stoltenberg calls for new brazil talks with banks
the american stock exchange halted trading of versars stock this morning
shr loss 47 cts vs loss 63 cts net loss 1450000 vs loss 1930000 revs 147 mln vs 133 mln note year ago resulted restated to exclude michigan cable systems sold in 1985
relations between the government and farmers have become strained in france in recent months
the refinery as a whole had been operating at about half of its capacity since the end of january while an extensive overhaul was carried out on the north side of the complex where the hydrocracker is sited he said
the rio dockers did not get support from their colleagues in santos brazils main port but the spokesman said they would not return to work unless their demands were met
the sullivan mine at kimberley produced 22 mln long tons of ore in 1986 most for processing at the trail smelter
31 1986
the employment data suggests a gnp annual growth rate of about three to 325 pct in the first quarter said gramley
it did not say when the new measure would come into force
hoogovens said cirex turnover had grown in recent years to 30 mln guilders in 1986 and it expected further expansion
jacobson stores inc said its board voted a three for two stock split payble march 30 record march 13
drg issues 40 mln stg convertible bond
he adds and when your hear they should have market forces at play that means the level of public services should drop it had been hoped that giving the world bank a greater role in the debt strategy might defuse the growing resistance in the debtor countries to measures that increased already prevalent poverty even further
hall fbh debt may be cut by moodys
coffee producers belonging to the other milds group will meet may 4 in guatemala to discuss the possibility of restoring export quotas producer delegates told reporters after the closing session of the international coffee organization ico executive board meeting
in addition to reassure other creditors alusuisse had arranged with three major swiss banks union bank of switzerland sbgzz swiss bank corp sbvzz and credit suisse crszz to convert 300 mln francs of credits into a subordinated loan
last year turnover rose by 208 pct to 871 mln dlrs from 726 mln dlrs in 1985
yesterdays intervention was large in terms of the countries involved and the amounts expended he said
efps already in effect for platinum futures on nymex are expected to increase the open interest and liquidity in us energy futures according to traders and analysts
french cereals exports through rouen port rose to 751563 tonnes between march 1 and march 25 from 603413 tonnes in the same 1986 period freight sources said
homestake mulls buying ore reserves
tokheim said shipments of tcs will begin in the second quarter
henley group inc said it ended talks with sante fe southern pacific corp concerning the possible acquisition of sante fes southern pacific transportation co subsidiary
general motors however did not make any profit sharing payments to its workers while ford made a profit sharing distribution of 372 mln dlrs or 2100 dlrs per worker
in particular the quota on high quality hilton beef will be raised by 4500 tonnes to 34300 tonnes and quotas on frozen boneless beef will be increased by 3000 tonnes to 53000 tonnes
fundamentally the market situation is bullish and the official price will be 20 dlrs in january a japanese refiner said
they were clearly worried and this is the logical way of trying to stop the trend the diplomat said
the companies have been told that the commission could not judge whether a plan would be acceptable under european community ec competition rules until it had full details they said
shr loss 148 dlrs vs loss 36 cts net loss 4036000 vs loss 983000 sales 166 mln vs 17 mln 12 mths shr loss 188 dlrs vs profit 71 cts net loss 5113000 vs profit 1904000 sales 854 mln vs 885 mln note prior year net includes extraordinary loss of 298000 dlrs in qtr and extraordinary profit of 718000 dlrs in year
japan to make loans to indonesia and bolivia
a senior ministry official welcomed the scheme and said it may encourage new lending to developing countries
for all 1986 foreign purchases of securities excluding us treasury securities were a record 707 billion dlrs surpassing the previous record 509 billion dlr total in 1985
sterling held its buoyant tone throughout
the us agriculture department said it has accepted a bid for an export bonus to cover the sale of 50000 tonnes of hard red winter wheat to sri lanka
taxes jumped 513 pct to 92 mln francs in 1986 from 61 mln the previous year
he said that based on discussions with brazilian officials here last week he believed brazils approach to its problems was nonconfrontational adding we fully expect brazil will work this out with its private creditors baker pointed out brazil was paying in full and on time its debts to multilateral institutions the us government and other western creditor governments
more recently a dispute over us access to the grain markets of spain and portugal after they joined the european community threatened to become a trade war
gasoline service station sales rose 20 pct in february after a 19 pct january increase
this is the first time indonesia is attending such a meeting they said but representatives from thailand may not be able to attend because of their tight schedule
shr profit 72 cts vs profit 14 cts net profit 3309000 vs 609000 revs 72 mln vs 65 mln year shr profit nil vs loss 413 dlrs net profit 1000 vs loss 19 mln revs 245 mln vs 2691 mln
morgan stanley issues warrants into japanese firm
officials said that five other tankers were waiting outside the terminal for conditions to improve
the issue is part paid with 20 stg pct payable on issue and the 76 stg pct balance due on april 27
defense secretary caspar weinberger will join commerce secretary malcolm baldrige in fighting fujitsu ltds itsut plan to buy 80 pct of fairchild semiconductor corp pentagon officials said
there has been no real two way business today neither has there been any new issues for diversion noted one trader
louisiana pacific corp lpx 3rd qtr net
he said this was the first of two planned sales of corporate issues from the funds portfolio
it noted the growth rate had slowed from 45 pct in the third and fourth quarters of last year
vista resources inc vist 4th qtr net
opposition of the sort that blocked fujitsu could end up harming us firms and undermining a trend toward multinational tie ups some analysts said
jeffrey leeds of chemical bank had not been convinced that the fed was tightening policy
morning weakness in sterling and the gilt market was largely attributed to a newspaper opinion poll showing that the conservative governments support was slipping
the us department of energy said it has awarded bids for about 90000 barrels per day bpd of crude oil from the elk hills naval petroleum reserve in california
the federal reserve is expected to enter the us government securities market to add temporary reserves economists said
uni marts inc said it acquired seven gas n all inc convenience stores for an undisclosed amount of cash
referring to pressure by oil companies on opec members in apparent reference to difficulties faced by qatar he said we expected such pressure
the year end results include an 80 mln dlrs provision for future legal and or settlement costs to cover the civil and criminal settlements announced today
chapman also said it also plans to negotiate settelment and discharge of a substantial portion of its accounts payable and settlement of certain litigation
latest nine mths includes a tax credit of 2330000 dlrs or 119 dlrs
the ucap spokesman said the american soybean association asa had spent about 25 mln dlrs lobbying for the bill
lyng said the us has been trying to reduce farm product output with expensive programs maki said
bankers trust in new york said it would be premature to make a decision
it said it initially bought the stock in connection with risk arbitrage and other investment activities in the ordinary course of its business
he said the mounting foreign exchange reserveshelped boost taiwans money supply by 4822 pct in the year to end february
funaro was in britain on the first leg of a tour of european capitals to explain the motives of the brazilian debt moratorium and to seek support for intiatives to improve capital flows between developed countries and third world debtor nations
slater ssiato plans us modernization
revenues for the year ended august 31 will be about 12 billion dlrs including gsx corp the us waste services unit acquired from imasco ltd last year for 358 mln dlrs laidlaw president michael de groote told analysts
telecredit inc tcrd 3rd qtr jan 31 net
conditions not yet set
bilfinger und bergers us units took up 600 mln marks of its total foreign construction output
net sales of soybeans totalling 274200 tonnes equaled the preceding week but were nearly a third below the four week average
shr loss 36 cts vs loss 36 cts net loss 201 mln vs loss 126 mln revs 125 mln vs 249 mln avg shrs 558 mln vs 347 mln year shr loss 111 dlrs vs loss 105 dlrs net loss 508 ln vs loss 319 mln revs 637 mln vs 1069 mln avg shrs 458 mln vs 302 mln note net includes extraordinary gains of 2470000 dlrs vs nil in quarter and 809000 dlrs vs 425000 dlrs in year
in a report the kiel institute said west germanys export outlook has not deteriorated fundamentally despite the marks strength against the dollar and other major currencies
tab products co tbp 3rd qtr feb 28 net
chrysler corp said its chrysler first inc acquired a major portion of the commercial lending portfolio of beneficial business credit corp a subsidiary of beneficial corp
some believe the fed is adding fewer reserves than are needed to keep upward pressure on rates and so help the dollar
the additional tax cuts brought forward to next january were no substitute for support for growth
the ec commission confirmed it granted export licences for 118350 tonnes of current series white sugar at a maximum export rebate of 46496 european currency units ecus per 100 kilos
non callable for three years the debt is rated b 3 by moodys and ccc plus by standard and poors
ecuador which has foreign debt of roughly eight billion dlrs has not paid any interest to foreign banks since february
intermedics inc itm 1st qtr feb one net
the state owned cotton export corporation was likely to export 38 mln bales of cotton during the current fiscal year compared with 386 mln last year cotton traders said
national bancorp inc nibca year end loss
harvest will start in la pampa and buenos aires in mid april
the sterling yen rate was about 24034 44 today up from 23450 at the start of the calendar year and a narrow range of 230 to 234 late last year
international minerals said it set a completion target for the spring of 1989 by which time necessary food and drug administration approvals are expected to be obtained
copper industry asks lme for strategy statement
christopher sibson secretary general of ipma in explaining why the recommendation was adopted said it is aimed at the problem of the lead manager who does a deal and disappears sibson said the organization cannot force its members to adhere to the rule
audio video ava sweetens bid for cyclops cyl 
it proposes to invest about 400 mln pesos in the manufacture of car spare parts and other items and generate about 100 mln pesos in export earnings over five years
butler btlr completes sale of livestock unit
lange would not name the forecasting groups
rospatch rpch rejects diagnostic drs bid
rent a center rent sells convertible debt
dutch insurer stad rotterdam anno 1720 nv asrnas said from july 1 it will own 20 pct of the shares of europeesche verzekering maatschappij nv a fully owned unit of swiss insurer union rueckversicherungs gesellschaft stad rotterdam chairman lucas van leeuwen told it may raise its stake to a majority interest if the two companies are found to be sufficiently compatible
in a separate press release the company said that enof and almaden held talks in istanbul a week ago with turkish mercury producers on ways to improve prices but gallego said he was not in a position to say what action the turkish companies would be taking
the january decrease left the index at 1838 over its 1967 base of 100 and was led by a fall in contracts and orders for plant and equipment
cyclops cyl merger approved
preferred healthcare ltd phcc 4th qtr net
encor 48 pct owned by dome petroleum ltd dmp said investment dealers mcleod young weir ltd and pemberton houston willoughby bell gouinlock inc agreed to purchase the issue for resale to the public
the contracts wil accelerate the process and reduce the expense of swap documentation japsper said
lands end inc said its board declared a dividend of 10 cts a share payable april 30 record april 13
bristol myers co bmy sets quarterly
peninsular and oriental steam navigation co plc porll p and o said it plans a free warrant issue on the basis of 10 warrants for every 150 stg nominal of deferred stock already held to mark the 150th anniversary of the company
armatron international inc said it negotiated a new seasonal line of credit with three lenders for 10 mln dlrs for working capital requirements to support its lawn and garden product line
shr 90 cts vs 84 cts net 1855 mln vs 1715 mln revs 108 billion vs 107 billion nine mths shr 185 dlrs vs 190 dlrs net 3789 mln vs 3895 mln revs 267 billion vs 269 billion 12 mths shr 215 dlrs vs 187 dlrs net 4407 mln vs 3820 mln revs 347 billion vs 347 billion
european community ec commissioner willy de clercq meanwhile told reporters conflict between the worlds three major trading and economic powers the ec the us and japan set a poor example for other members of gatt
he said that quite clearly the second source said
he said that japan had made an additional 450 mln dlr pledge to the international development association an indication that it agrees that it must provide more help in line with its economic position
us m 1 money supply rose 21 billion dlrs
board members were also instructed to keep confidential the terms of any transaction that might be entered into until it becomes final the company said
the hoare govett bid is valued at about 2104 mln us dlrs
feds johnson warns us banks on ldc rigidity
britain and west germany backed by the netherlands and denmark opposed a proposed tax on edible oils and fats which has already sparked strong protest from exporters to the ec led by the us and from ec consumer groups diplomats said
earlier the bank holding company said brazils moritorium may force it to increase non performing loans by 380 mln dlrs and reduce pretax and net income by 10 mln dlrs in the first quarter and 35 mln dlrs for the full year
the administration asked congress to replace the us tariff schedule with a new system to bring it into line with international tariff categories us trade representative clayton yeutter said
kuwait asks to use foreign flag tankers us says
last year us farmers obtained record corn yields averaging 1193 bushels per acre
taiwan buys 25000 tonnes us soybeans
coastals more than 800 gasoline retail outlets were operated profitably during 1986 and are expected to continue to do so the company said
japan has sought to assure the us it is not trying to keep foreign equity in a new japanese international telecommunications company below the legal limit of 33 pct a post and telecommunications ministry official said
raw sugar futures firmed to session highs by midmorning securing gains from last nights basically steady close of 100 to 180 dlrs a tonne in a 166 lot volume
he said an agreement was initialled on a visit last week by ecuadors deputy energy minister fernando santos alvite
insee said production in january was affected by rail strikes and severely cold weather
we have no idea about the report and cannot comment a spokesman told 
the initial processing center will be located near murfreesboro tenn and is expected to begin operations in the fall of 1987 steel technologies said
there has been slight progress towards reaching a rubber pact the chairman of a united nations conference on a new international natural rubber agreeement inra manaspas xuto of thailand said
a spokesman at anacomp said the company expects to complete its deal for datagraphix later this month
qtly div 25 cts vs 25 cts prior pay may 20 record may eight
agricultural aides to english said the congressmans first choice is to make the option available to all 1987 wheat farmers
the borg chemical business is great said rose adding its only us competitors are monsanto co mct and dow chemical co dow
shr 42 cts vs 39 cts net 123 mln vs 9382000 sales 1720 mln vs 14600 mln avg shrs 295 mln vs 243 mln year shr 163 dlrs vs 135 dlrs net 457 mln vs 300 mln sales 6655 mln vs 4462 mln avg shrs 280 mln vs 223 mln note translated at 1339 italian lire to dollar
cincinnati bell csn starts auxton auxt bid
ault inc ault 3rd qtr march one net
money market dealers said the bank of england has recently used the offer of borrowing facilities to signal that it does not want to see an early reduction in uk base lending rates
china sulphur iron mine starts production
union carbide corp is looking to acquisitions and joint ventures to aid its chemicals and plastics growth according the hw lichtenberger president of chemicals and plastics
world bank affiliate provides credit for haiti
favourable tax treatment gone on certain uk loans
iea estimates on april 1 put oil stocks in the oecd area at 428 mln tonnes representing 98 days of forward consumption
he said producers have already delivered 22 mln bags of which 15 mln bags have been paid for
he said he was pleased that chairman a
human sugar consumption in october february rose to 817856 tonnes from 799128 in the year ago period
members will then have to obtain a minimum 3500 dlrs for net long or net short positions in the may and july contracts including a 2500 original margin plus the additional 1000 dlr spot charge
delivered propane to japan was quoted at gsp plus 19 dlrs and butane at gsp plus 25 dlrs the traders said
taco villa inc said it is holding talks with republicbank corp rpt to restructure its loan payments and waive some financial convenants on its debt
old republic intl corp oldr hikes dividend
coffee may fall more before new quota talks
brown forman inc said at the suggestion of the american stock exchange it has changed the record date for the 28 ct per share quarterly dividend on its class a and class b common stock that is payable april one to march 20 from march 13 to coincide with the record date for a three for two stock split declared february 26
ibm whose stock hit a 52 week low of 115 3 4 dlrs in mid january has come back lately
the west german economics minister today denied giving a newspaper interview which quoted him as saying the state could not continue to pour money into the countrys ailing steel and coal industries
wickes cos inc wix 4th qtr loss
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
under the proposed sale the companies said aloha would acquire the entire princeville airways commuter operation and access to the princeville airport on the island of kauai
federal reserve chairman paul volcker said last week that current data do not show the worsening in trade has reversed
the five year accord signed in july 1986 aims to protect the us market from dumping of low price japanese microchips officially known as semiconductors
in the first five 1986 87 months turnover abroad showed a three pct increase kaske said without giving figures
he noted that morgan has already set up a brokerage subsidiary to deal in loans to less developed countries
morgan stanley and co inc was the placement agent
argentina brazil trade jumped 90 pct in 1986
the buffer stock has around 250 mln dlrs in funds and a buying limit of 250000 tonnes of cocoa 100000 tonnes of which are already in the buffer stock
advanced institutional management software inc said it renegotiated its bank credit facility from a demand note to a 10 year term note with a 25 year payment schedule
hughes tool co chairman wa kistler said its counter proposal to merge with baker international corp was still under consideration and that a merger was in the best interests of both companies
providing consumers with the best service at the lowest price takes a back seat to such considerations they said
trans world airlines inc said it owns more than four mln usair group shares or about 15 pct of the total outstanding
oper shr 31 cts vs 34 cts oper net 3005000 vs 2835000 revs 131 mln vs 9478000 year oper shr 149 dlrs vs 115 dlrs oper net 287 mln vs 169 mln revs 478 mln vs 320 mln note oper net excludes loss from discontinued operations of 726000 dlrs vs gain of 737000 dlrs for qtr and gain of 581000 dlrs vs gain of 2350000 dlrs for year
analysts see no immediate sign of a rally in european tin prices and movements are still expected to be largely related to currency fluctuations unless significant consumer demand emerges for the third quarter
because its novel financing deal sold quickly last week general motors corps gm general motors acceptance corp unit plans to do more multi tiered financings said michael mangan of gmac
harris associates lp a chicago investment advisory firm said it cut its stake in cyclops corp to 437425 shares or 111 pct of the total outstanding common stock from 524775 shares or 133 pct
james mccaughey former vice president of sales for kaiser has been named general manager for the plant which will be called napa pipe corp oregon steel said
a smaller group of representatives is now charged with fleshing out the details
harris ups centerre bancorp ctbc stake
american management systems amsyo 3rd qtr net
bayou international ltd said it acquired 199 pct of amalgamated equities ltd of australia for 710000 dlrs
exposures taken on by banks acting as creditor within their own group of companies would usually be looked into on a case by case basis under new proposals it said
lotus lots to acquire computer access corp 
moodys will also consider the implications of possible defensive measures that borg warner may undertake
nova said the minister of regional and industrial expansion michel cote ruled that union faiths purchase of the husky stake would not result in husky ceding control to a non canadian company
bormans inc brf declares qtly dividend
price details were not available
lloyds bank plc said it is cutting its base lending rate to 105 pct from 11 pct effective tomorrow
reagan said he imposed the sanctions on certain computers television sets and some hand tools because japan did not honor an agreement to end dumping semiconductors in world markets at less than cost and to open its markets to us products
treasurys baker pursuing s
leaseway transportation ltc completes unit sale
weve got to loosen money weve got to keep interest rates down
consumers are due to meet before the council
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
qtrly class a div five cts vs five cts prior qtrly class b div four cts vs four cts prior pay may 29 record april 30 note company changed date for its annual shareholders meeting to june 24 from june 15 due to a scheduling conflict
first union corp func 1st qtr net
there were rumors in world oil markets on tuesday that iran had fired shells at an oil camp in northern kuwait in retaliation for us attacks on iranian oil platforms in the gulf on monday
lord belstead a junior agriculture minister told the house of lords the tax would raise the price of raw materials used in many processed foods by about 100 pct
the resulting trade surplus of 176 billion marks for january february compares with a cumulative surplus of 141 billion marks in the year ago period
leung said however that browning ferris has adequate cash reserves to cover the fine
singapore court adjourns brunei bank judgement
a snowstorm caused some cattle deaths in the panhandle and cold wet weather covered many areas
the problems facing us china trade and gatt membership are similar a pricing system which many foreign businessmen regard as arbitrary and not related to actual costs especially for exports and a de facto dual currency system
mills lacked the capital to modernise and they competed with each other for raw materialsx it added
the brazilian coffee institute ibc confirmed having closed may export registrations effective april 6
cons banking gp net profit 4967 mln schillings vs 3545 mln cons banking gp balance sheet total at year end 4534 billion schillings vs 4254 billion parent bank net profit 3706 mln vs 2530 mln parent bank balance sheet total 3725 billion vs 3482 billion parent bank dividend 12 pct vs 10 pct parent bank div payout 3630 mln schillings vs 2475 mln
finance minister boris gustev told the supreme soviet defence spending in 1988 would total 202 billion roubles the same as announced last year
the following rainfall was recorded in the areas over past 72 hours parana state umuarama nil paranavai 15 millimetres londrina nil maringa nil
comalco ltd cmacs said its return to profit reflected reduced costs improved primary aluminium prices and its withdrawal from a japanese smelter venture
britains gross domestic product gdp on the average basis of output expenditure and income rose by 26 pct in 1986 after a 34 pct increase a year earlier central statistical office cso preliminary figures show
they said west germanys objections were put in a letter this weekend from chancellor helmut kohl to jacques delors the president of the ecs executive commission which had put forward the proposals last month in a bid to avoid a new ec cash crisis
venezuelas biggest private debtor faces default
balances in tax and loan note accounts fell to 15513 billion dlrs from 17257 billion dlrs on the same respective days
decreased production was a natural result of the company increasing output of one mln bit drams he said
it said the project also seeks to reduce agricultural nutrient imbalances by building the capacity for phosphate fertilizer production and to improve institutional efficiency by introducing modern economic financial and operational systems and techniques
mario gabelli head of a new york investment firm which owns a large block of stock proposed one nominee for the board
he said he hopes to see medium term financing facilities for brazilian companies reinstated shortly following an agreement reached in january with international financial authorities
last year new process paid an annual dividend of 118 dlrs by paying 12 1 2 cts a share in each of the first three quarters and a fourth quarter dividend of 80 1 2 cts
the agent said honduras is seeking us no
shr 19 cts vs seven cts net 936000 vs 351000 revs 1533 mln vs 145 mln
italys national airline alitalia spa azpimi reporting a 146 pct rise in provisional 1986 net profit said it carried seven pct more passengers on domestic routes last year but 115 pct fewer passengers on flights from north america and canada
general motors of canada ltd a unit of general motors corp said about 1600 hourly rated employees at the oshawa plant will be laid off for one week due to high inventories
the companys total assets reached 6987 billion guilders in 1986 against 67 billion the year before
philippine trade secretary pleased with gatt talks
851 billion operating income 198 mln francs vs 256 mln net extraordinary charges 592 mln vs 472 mln note company plans 50 pct capital reduction banks to convert 300 mln francs of credit facilities to subordinated loans
australias largest company the broken hill pty co ltd brkns bhp is expected to report a net profit of around 600 mln to 620 mln dlrs tomorrow for the first nine months ended february 28 share analysts polled by said
allwaste alws to buy related company
sallie mae said semiannual interest payments and principal at maturity will be paid in australian dollars adding it will enter into a separate currency and interest exchange agreement to convert its payment obligations to us dollars
the us takes 90 pct of koreas computer products exports 72 pct of its electrical appliances and 65 pct of its telecommunications equipment
shr 15 cts vs 14 cts net 2028000 vs 1879000 revs 321 mln vs 295 mln
csr says it is proceeding with offer for monier
fundamental adjustments will be needed as long as japan hopes to benefit from a better international allocation of resources and maintain the free trade system it added
the us state department said two days ago tehran had been told of us concern that iranian anti ship missiles posed a threat to the free flow of oil from the gulf
the businesses involved in the deal provide products to hotels restaurants and other parts of the food and beverage industry
proceeds from the sale combined with the sale of the companys remaining coal assets should result in full recovery of its investments in the operations the company said without further elaborating
other proposals include various excise taxes and combinations of import surcharges or tariffs including a 10 pct import across the board import surcharge that would raise 22 billion dlrs next year alone more in later years
customs at kisumu take less than a day compared with two to three at the malaba rail border crossing a ugandan railways official said
this cost 470 mln dlrs after tax included in the net interest cost
taiwan proposes further tariff cuts
claim payouts fell to 99 mln guilders after 666 mln the previous year
us wheat bonus to soviet called dormant
such worldwide trading networks offer vast new investment opportunities but could strain the secs ability to enforce us securities laws and guard investors from fraud
a foreign ministry statement said the latest crisis between the two nato members stemmed from the continental shelf dispute and an agreement on this issue would effect the security economy and other rights of both countries
we will continue to look at multi tiered financings mangan said
yr ended march 31 shr 378 cents vs 307 final div 13 cents vs 11 making yr 24 vs 22 net 6058 mln dlrs vs 4742 mln turnover 150 billion vs 156 billion other income 1684 mln vs 373 mln shrs 16171 mln vs 15419 mln
interleaf inc said it will introduce a series of new software packages that allow users to build electronic publishing systems comprised of personal computers workstations and mainframe computers
at the state department secretary of state george shultz is being advised the baker plan is going through a rough patch while treasury officials are urging commercial banks to adopt more flexible approaches to guarantee their continued participation in the plan
1353 mln
qtly div 10 cts vs eight cts prior pay june four record may 14
pacific gas had been carrying the other 60 pct as a deferred cash receivable and accounted for the non cash item as income
brazil is facing the issue very carefully
the branches are in la jolla la mesa and san juan capistrano calif
following todays tender the fourth state loan for payment in 1987 a nominal 1055 billion guilders has been raised by public issues bringing the total raised this year to 1855 billion guilders or some 442 pct of the states 1987 borrowing requirement
it said it will not disclosed details
the panel also approved measures that could trigger larger corn and wheat acreage reduction requirements increase farmer held reserve storage payments reduce a potential milk support price cut and require advance deficiency payments for producers of major crops
the bma spokesman said the next tender for two mln dinars of 91 day bills will be held on april 14
a jacobs spokesman declined to specify the size of the majority stake and said jacobs had not decided what it would do about acquiring the outstanding shares
geodome resources goedf to proceed with mine
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
union elections were called following the resignation of former president rodolfo seguel last october
this takes the banks total help today to some 112 billion stg and compares with its estimated deficit of around 110 billion
bulgaria signs 40 billion euroyen loan
iraq said today its warplnes had attacked a supertanker and four iranian oil sites and vowed to keep up such raids until the gulf war ends
for the first nine months of 1987 the overall balance of payments showed a deficit of 1921 billion lire against a 1725 billion deficit in the same 1986 period
based in bristol england isis employs 65 workers and has annual revenues of about five mln dlrs mcdonnell douglas said
japan is the largest buyer of us farm products and these issues should not be discussed on the same table the official said
terms were not disclosed
one analyst speculated the extension makes it more likely hutton will attempt another offer
income and profit generated by services to these countries shrank by a very substantial margin he said
australias leading wheat markets include china egypt iran iraq the soviet union and japan
it also said its first quarter earnings ended march 31 which it said it will release later this month will be similar to its fourth quarter earnings last year
qms inc aqm 4th qtr oct 2 net
private exporters concluded advance weekly sales for 48062 tonnes against 22086 tonnes the previous week
problems in the farmbelt and oilpatch regions contributed to the first decline in overall income for us banks in a quarter century the federal deposit insurance corp fdic said
lawson told journalists that the prospects for the uk economy look very very good providing we can avoid a trade war he stressed that a heavy responsiblity in different ways lies on japan and the united states to ensure that we do avoid such a trade war asked whether he believed such a trade war could be averted lawson replied i very much hope so britain last week warned that it would retaliate if japan did not move soon to open its markets to outside competition
the european commission recently made available 70000 tonnes for next weeks tender
in the western hemisphere both dominican republic and mexican nearby raws were bid 15 points discount to july new york and offered five points under but in limited trading it said
the cbt originally had approved a yen bond futures contract in december 1986 but the sec rule precluded the application
in november 1986 data card said it planned to sell its troy division
brazil banks fail to make breakthrough in debt talks
as a result of the act it said its effective income tax rate rose eight points to 481 pct in the quarter and 55 percentage points to 497 pct for the nine months
bank of japan governor satoshi sumita told a press conference on wednesday that the central bank does not have any intention of easing credit conditions
civil service industrial action started early this month will delay the publication of mays uk overseas trade figures which had been due out next thursday a trade and industry department statement said
value was not disclosed
beverly enterprises bev sets regular dividend
iadb chief warns of eventual latin default
but debate on the budget has been delayed by an opposition boycott of parliamentary business over the proposed imposition of a five pct sales tax and the government has only a slim chance of producing a meaningful economic package in the near future the dealers said
the exchange statement said any such proposals other than the three will not be considered until a general principle has been established by the stock exchange after consultation with the securities commission an official of the securities commissioners office told the decision to bar the new share issues was made by the exchange adding the commissioner is closely watching developments
in the year ended november 30 pat earned 5400000 dlrs pretax on sales of 830 mln dlrs
there is a 3 16 pct management fee and an unspecified but very small commitment fee
underwriters have been granted an overallotment option to purchase up to another 129750 shares
period ended may 31 shr loss five cts vs loss 11 cts net loss 306007 vs loss 102420 sales 110522 vs 10105 note full name is data med clinical support services inc per share data adjusted for three for one stock split payable june 30 1987 the only sales reflected in fiscal 1987 period are sales recorded subsequent to the may 22 1986 acquisition of the assets of a predecessor company by data med
he maintained world economic conditions were continuuing to improve a development that would provide a positive backdrop for debtor nations
dillard dept stores inc dds declares qtly div
royal dutch rd unit raises heavy fuel prices
bankamerica is the second largest bank holding company in the us moodys reduced the subsidiary bankamerica overseas finances senior debt to ba 1 from baa 3 and subordinated debt to ba 3 from ba 1
sugar offered to dutch intervention refused
preparations for a possible upturn in demand could also spur higher production next quarter merrill lynch analyst matt aizawa said
late yesterday the market was reporting it had bought one to two cargoes
hospital corp hca board against buyout bid
stone container corp said it has elected to redeem 200 mln dlrs of convertible debt
elkes george c
usair asked the department of transporation earlier this month to approve a voting trust
although under pressure from oil companies and wheat farmers for help in battling depressed commodity prices wilson said it has to be recognized the area was a prisoner of market forces outside the boundaries of this country wilson appearing before the committee to discuss the governments spending estimates released earlier this week said the government is doing what it can in the region citing more than 35 billion dlrs in aid for western agriculture
other factors supporting this bullish view were growing expectations that federal reserve chairman paul volcker would be reappointed for a third four year term in august japans larger than expected economic stimulus package last week and more favorably technical chart signals analysts said
jacobs suchard ag jaczz 1986 year
indonesias exports of tea and cocoa will continue to rise in calendar 1987 but coffee exports are forecast to dip slightly in 1987 88 april march as the government tries to improve quality the us embassy said
dome earlier said it was not considering selling encor energy but reaffirmed the companys 233 pct interest in canadian gold producer dome mines ltd dm is up for sale at the right price dome now negotiating a plan to restructure more than 610 billion dlrs in debt sees encor as a strategic investment that it does not intend to sell spokesman david annesley said
commtron corp cmr 2nd qtr feb 28 net
the limit on subsidies is now 05 pct
no official reasons for the resignation were immediately available but sources close to the government said sayad had pressed for a three month price freeze and sharp government spending cuts to combat inflation
these relate primarily to the conosolidation and elimination of duplicate facilities and staff
large scale buying by foreign banks or by a life insurance company earlier pushed the dollar upwards they said
american intl group inc aig 4th qtr net
the meeting of some 500 top businessmen from across saudi arabia comes at a time of guarded optimism in industry and commerce following the opec pact to boost world oil prices
first boston corp acting as sole manager said it placed 294 mln dlrs of taxable power revenue bonds due 2005 of platte river power authority of colorado
canadian banks were hard hit today
shr 19 cts vs 12 cts net 850000 vs 432000 sales 9850000 vs 4783000 avg shrs 4504000 vs 3527000 nine mths shr 57 cts vs 37 cts net 2400000 vs 1281000 sales 252 mln vs 128 mln avg shrs 4233000 vs 3485000
the group led by mutual shares corp said it bought the stock for investment purposes
sis sisb completes wendys wen unit buy
rada electronic industries radif nine mths net
trade minister rachmat saleh said indonesia will continue to reform the economy and bring about further liberalisations
under the accord leading industrial democracies pledged to coordinate economic policies to foster currency stability with the surplus countries west germany and japan stimulating their economies and the us promising to cut its budget deficit
liquidity in the philippines rose in december while loan demand and short term lending rates fell the central bank said
brierley investments ltd which has been a frequent critic of the merger launched a full bid for progressive at 420 nz dlrs a share last monday
senior reagan administration officials expressed warm support for the pins proposal this week which gave ongpin hope that the banks would embrace the idea
an administration official told this week the philippines proposal to partially pay interest with investment notes instead of cash should be considered seriously by the banks
the company said the recent declines in stock prices have made it unlikely that the transactions could qualify as tax free reorganizations
from morgans point of view the repackaging does aid the present holders of the notes as well as offering value to a new class of investors
outer continental shelf sale postponed
another factor is that banks in london where the main market is based are going long in the currency because of a general feeling that it will rise in the future one economist said
chinas top leader deng xiaoping said china must not import more than 10 mln tonnes of grain ming pao newspaper of hong kong said
the rating agency said that a poor outlook for the oil services industry would pressure earnings and cash flow for basker hughes over the intermediate term
carbide uk looks to acquisitions for growth
1986 2nd qtr and six mths net includes 361000 dlrs and 1747000 dlrs for tax credits
any threat to oil supplies would stem from an increase in the number of tanker attacks as part of a widening of gulf hostilities analysts said
japan seamless pipe makers to form export cartel
the banks prime 1 rating for short term deposits was not affected
the company said guilder revenue and profit were pressured by falls in exchange rates particularly in the us and australian dollar and sterling
earlier this week group chairman robert maxwell also said it expected to float its mirror group newspaper subsidiary bought from reed international plc reedl for 100 mln stg in 1984
in addition to the direct expenses fruehauf said operating results were adversely affected by an unquantifiable amount due to the disruption related to a proxy contest and attempted hostile takeover which started in early 1986
he denied that there was any military hardware on the rigs except a 23 mm machinegun for air defence reacting to weinbergers remark that washington considered the case closed aqazadeh said iran will also consider the case closed after its retaliatory measure iranian officials have said their response would not be limited to the gulf and us interests around the world might come under attack
algonquin gas transmission co a unit of texas eastern corp said it has filed for federal energy regulatory commission approval of new rate schedules
in 1986 allergan had worldwide sales of 433 mln dlrs
shr loss 134 dlrs vs profit two cts net loss 45 mln vs profit 46000 revs 76 mln vs 89 mln nine months shr loss 141 dlrs vs loss two cts net loss 47 mln vs loss 76000 revs 302 mln vs 238 mln note1986 includes gain on disposition of investments of 2454 dlrs in 3rd qtr and 5306 dlrs in nine months respectively
the market is likely to try the 140 yen level in the near future and at that time if operators see the g 7 nations failing to coordinate intervention they would see the louvre accord as abandoned and push the dollar down aggressively hirabayashi said
argentine grain belt temperatures centigrade and rain mm in the 24 hours to 1200 gmt were max temp min temp rainfall buenos aires 24 12 0 bahia blanca 22 7 0 tres arroyos 22 8 0 tandil 22 7 0 junin 24 11 0 santa rosa 6 0 cordoba 23 12 1 santa fe 21 18 17
world bank likely to urge changes on jakarta
with inclusion of the corporate tax allowance qualifying domestic shareholders would receive an effective dividend of 1406 marks per share
steego corp stg 3rd qtr jan 31 loss
media group john fairfax ltd ffxas said that its flat first half net profit partly reflected the impact of changes in the australian tax system
leveque who has met the heads of most of chinas banks including the president of its central bank during a visit here said the chinese authorities are very attentive to its foreign debt and have the matter under control
chairman heineken said the companys seven year efforts to penetrate the soviet market had finally resulted this week in a contract that relaxed some of the restrictions they faced
glenn grimes agronomist at the university of missouri said i would not look for belly storage during the next month or two to be heavier than a year ago i think it will be less
coca cola enterprises cce to sell debt
qtly div 10 cts vs nine cts payable june one record may 15
uk wheat and barley exports adjusted upwards
17 1987
south africa sets news conference on debt
a white house statement said reagans decision to press for continuation of so called most favored nation mfn status for romania had been exceptionally difficult and came after all options were seriously considered but the statement said that despite concerns about human rights abuses by the bucharest government the president had decided that should be continued because it helped stimulate emigration from romania and gave the united states influence on human rights practices there
the bank official said commercial bank reserves were 2219 billion pesos at the end of december when reserves required were 2159 billion
court enjoins tender for bancroft btv 
shr loss 11 cts vs profit six cts net loss 515000 vs profit 294000 sales 628 mln vs 654 mln
private sources put 1985 86 production at a record 72 to 73 mln tonnes 42 to 64 pct lower than the new forecast for the current crop
he said japanese bankers were unaware of the exact extent of western commercial bank exposure to nigeria and were uncertain about the proposed refinancing package details
fricke who estimates 1987 earnings at 780 dlrs and 1988 at 1080 dlrs said cost cutting and new car models will not affect 1987 results
it said the division has yearly revenues of about 12 mln dlrs and makes rf microwave components for the defense electronics industry
i am confident we will see action taken sen
allowing for around 700000 tonnes for the current years domestic usage it would leave around 68 mln tonnes for export of which czarnikow estimates about 37 mln tonnes will be taken by the ussr 1530 mln by other socialist countries and the remainder for delivery to non socialist bloc destinations
fed will buy bills for customer after auction
westinghouse says it expects at least 10 pct earnings shr growth through 89
citibank ltd said it would lower its australian prime rate to 16 pct from 165 effective tomorrow
he declined to say how many dollars the bank bought or when precisely it intervened
in australian dollar terms reserves fell by 124 billion dlrs to 1260 billion after falling 171 billion to 1385 billion in january and rising 792 mln to 1292 billion in february 1986
reynolds metals co is raising 200 mln dlrs through an offering of convertible subordinated debentures due 2012 with a six pct coupon and par pricing said sole manager goldman sachs and co
texas international co said it has completed the previously announced 120 mln dlr sale of its domestic oil and natural gas reserves to total compagnie francaise des petroles it said on closing it used part of the proceeds to retire all 100 mln dlrs of its us bank and us senior debt and the rest will be used for general corporate purposes
phillips last changed its crude oil postings on march 4
shr loss 182 dlrs vs loss 16 cts net loss 2285000 vs loss 264000 revs 230 mln vs 146 mln year shr loss 159 dlrs vs profit seven cts net loss 2467000 vs profit 112000 revs 773 mln vs 758 mln note includes loss of 11 mln dlrs or 70 cts shr from asset writedowns and cost reductions
you always like to think if they can do this deal at no risk there should be someone else in the world that could do it higher said one arbitrager
the feds report did not say at what level the intervention occurred
the package includes 84 mln dlrs of cmos with an average life of 11 years priced to yield 688 pct and 235 mln dlrs of bonds with a 55 year average life and eight pct return
asked whether this intervention was a sign of weakness in the louvre accord he said i dont think so
however moodys noted that bankamerica corp remains liquid and owns considerable marketable assets
exports in 1986 87 season at 1025 vs 1025 last month
mexico gets 205 mln dlrs in world bank loans
only if brazil has access to new loans can it grow export and pay its debts over the longer term
asked which techniques were available to preserve stability lawson said both central bank intervention and interest rate changes could be used to tackle the market pressures there are from time to time interest rate stability is not an objective in that sense rates have to be moved up and down at times he added
the notes have a 7 1 2 pct coupon and an initial offering price of 99625 to yield 734 pct or 20 basis points over five year treasury notes
tax forms will look very different next year he added
us weather cotton summary usda noaa
mitsui and co usa is now imatrons fifth largest shareholder with 31 pct of the firms outstanding shares
the handelsblatt newspaper today quoted at and t chairman james e
m 1 a which is m 1 plus daily interest chequable and non personal deposits fell 131 billion dlrs to 7539 billion dlrs and m 2 which is m 1 a plus other notice and personal fixed term deposit fell 101 billion dlrs to 17770 billion dlrs
the malaysian government said it is issuing 16 billion ringgit worth of loan stock on the domestic money market a treasury statement said
the contract to be signed by pdvsa and champlin petroleums parent company the union pacific corp will create a new joint venture called champlin refining
we would like to see the indonesian government continue the adjustment process to move towards increased deregulation of the economy conable told a press conference at the end of a three day visit to jakarta
amca ail to sell some dominion bridge assets
us agriculture undersecretary daniel amstutz said he was confident that a european community ec proposal to tax vegetable and marine oils and fats would not be approved by the community
walters said that military forces on the destroyed iranian platform had engaged in a variety of actions against united states flag and other nonbelligerent vessels and planes
the company said in its annual report that it would increase spending for exploration and development of petroleum resources by about three pct to 614 mln dlrs from 1986s 595 mln dlrs assuming oil prices hold around current levels
the sources said the question of to what extent price adjustments should be automatic remains a problem
time tl 1987 earnings may be 425 dlrs share
they could therefore delay action on the brazilian loans until late may which falls in canadian banks third quarter ending july 31
some consuming member nations including britain and belgium favour the buffer stock buying more than 10 pct non member cocoa delegates have said
i dont think there is any interest in pursuing a decoupling bill this year
ramnath said the ministry is now holding talks with union carbide on the price of natural gas to be used in the plant which will be constructed near the trinidad and tobago oil company trintoc refinery at point fortin on the west coast
the reaction in the metal markets reverberated throughout the commodities markets as grains livestock and cotton posted broad gains
australia and new zealand banking group ltd anzas is planning a 100 mln australian dlr euro commercial paper program arranger anz securities asia ltd said
shipowners have offered a 100 pct raise which the seamen rejected
market makers are now awaiting a further fairly definitive paper from the bank which would contain details of auction procedures
papua new guinea plans resources investment agency
in paris on february 22 britain canada france japan the us and west germany agreed to cooperate to hold currencies around their then current levels
columbia gas cg seeks contract cost recovery
delegates said most countries now favour a continued legal itc presence to answer the still unresolved legal disputes over the outstanding debts of its buffer stock with court hearings likely to continue well after the june 30 expiry of the pact
taft chairmans group raises taft broadcasting bid to 150 dlrs share
the non callable bullet issue maturing in august 1992 follows an earlier private placement bond announced last month for 250 mln francs but with the same conditions
kouame will succeed dr
uk wheat futures also rallied to end the morning unchanged to 005 stg easier
in a petition filed in january the asa asked the us food and drug administration fda to require palm palm kernel and coconut oils to be identified as saturated fats on food manufacturers labels
in a newspaper advertisement the company said the offer which is not conditioned on receipt of any minimum number of shares and associated withdrawal rights will expire april 28 unless extended
ice creations is a molder of plastics
in its weekly statistical bulletin the oil industry trade group said gasoline stocks fell 30000 barrels to 25292 mln barrels from a revised 25295 mln while crude oil stocks rose 700000 barrels to 32938 mln from a revised 32868 mln
the iranian spokesman was quoted by tehran radio as saying the us was trying to build up its military presence in the region
the administration has said it could not support a trade bill containing such a provision
president reagan sent the five year international natural rubber agreement to the senate for approval
the acquisition of the additional 48 pct which a federal judge allowed to be completed gave campeau a majority stake in allied
australia attacks us gatt farm rules exemption
world soybean production in 1987 totalled a record 989 mln tonnes up from 906 mln the previous year balletto said while production of other oilseeds was lower
uk money market deficit forecast at 350 mln stg
shr 48 cts vs 64 cts net 1959404 vs 2621778 revs 5132626 vs 8167401
if you can tell me how we can get the international energy price up and how we can get the price for copper up and how we can get the price for wheat up then we will listen wilson told the house of comnons finance committee
although political considerations the governments wish to see a fall in base rates coincide with the budget had been suggested by operators last week as reasons for the banks delaying action worries about the real strength of sterling and perhaps about the markets reaction to the content of the budget may have been behind the central banks caution dealers said
at present such allowances are available only for livestock
zambias talks with the world bank and international monetary fund imf on a financial rescue package have run into difficulties on the issue of food subsidies an official newspaper said
these policies are collectively aimed at redressing the huge gap between japan and west germanys trade surpluses and the united states massive trade deficit
ethyl corp said its subsidiaries completed the acquisiton of nelson research and development co nelr the merger was approved following completion on jan 27 of a tender offer valued at approximately 55 mln dlrs the company said
the warrants run for three years
exxon corp said that forgeries of a 20 year zero coupon euronote issued by its exxon capital corp subsidiary have been discovered in the european market
shr 79 cts vs 505 dlrs net 5628000 vs 35936000 revs 418 mln vs 394 mln year shr 232 dlrs vs 724 dlrs net 16524000 vs 51541000 revs 1602 mln vs 1149 mln note current qtr figures include securities gain of 21 mln dlrs or 29 cts per share vs gain of 343 mln dlrs or 481 dlrs per share
the company also said that chemical sales accounted for 52 pct of its sales in 1986 down from 70 pct in 1981
the het comite spokesman said it was very likely it would refer questions to the appeal court in luxembourg and as a result it could easily be another nine to 12 months before the matter is finally resolved meanwhile the actions by dutch animal feed compounders are putting pressure on the commodity board to urge the dutch government to follow through on earlier statements and seek a complete review in brussels of the way in which the levy is collected the spokesman said
1986 4th qtr and yr oper net exclude 606000 dlrs or 38 cts per share and 2323000 dlrs or 186 dlrs per share for net operating loss carryovers
earlier squibb and cetus announced in a joint statement an agreement in principle to form a joint venture to develop new biotechnology products in several fields
nsa inc offers to repurchase own shares
results for the first month of the new year were encouraging after a period of uncertain consumer confidence and difficult trading conditions it said in a statement
bi yueran managing director of china state shipbuilding corps ship repair department told the newspaper the soviet union lacked adequate repair facilities for the more than 600 ships deployed in the far east
elcor corp elk 3rd qtr march 31
ics board earlier approved a plan to spin off the companys illinois central gulf railroad to shareholders
but dealers anticipate that once the rumors subside freight rates will settle back down because of the overall surplus of barges on the midwest river system
1986 and 1985 reflects preferred stock dividend requirements
cut were the companys first mortgage bonds and pollution control revenue bonds to a 2 from aa 3 unsecured pollution control and industrial revenue bonds to a 3 from a 1 and preferred stock to a 2 from aa 3
telemedia said the acquisition is expected to have a small positive impact on short term earnings
malaysia seeks 42 billion yen pipeline loan
alberta energy co ltd said it filed a preliminary prospectus for an issue of convertible debentures which may total 100 mln dlrs depending on market conditions
negotiators put final touches to new rubber pact
the dividend on a post split basis is 26 1 4 cts per share
the peking owned china international trust and investment corp citic bought the unfinished city garden hotel in hong kong from a subsidiary of cheung kong holdings ltd ckghhkg for 235 mln hk dlrs cheung kong director albert chow said
shr 90 cts vs 97 cts shr diluted 82 cts vs 88 cts net 421 mln vs 430 revs 3793 mln vs 3527 mln avg shrs 468 mln vs 443 mln avg shrs diluted 526 mln vs 500 mln year shr 158 dlrs vs 181 dlrs shr diluted 150 dlrs vs 176 dlrs net 737 mln vs 779 mln revs 120 billion vs 116 billion avg shrs 468 mln vs 430 mln avg shrs diluted 526 mln vs 456 mln
the canadian government is expected to announce later this week its final ruling whether us corn exports to canada have injured ontario corn growers us government and farm group representatives said
a voluntary compliance system for monitoring us coffee imports under quotas is viewed skeptically by many in the coffee industry said analysts and trade sources
ncr corp 1st qtr shr 65 cts vs 51 cts
in a speech to a european community ec oapec opec seminar in luxembourg released here al wattari said opec believes the world energy trade should be kept without restrictions and should be built around a fixed average price of 18 dlrs but he warned that defense of the 18 dlr a barrel level had caused hardship for opec countries who had been forced to curtail production and he warned that such cutbacks by opec states could not be sustained in some cases
seventeen of the 32 fortune 500 companies in the area left due to corporate restructuring between 1979 and 1986 but another 21 firms were added to the list
the banks are holding up to seven mln dlrs in coffee money and president yoweri museveni is thinking of imposing a penalty for such delays it added
the five leading west german economic research institutes have failed to agree about how strongly the domestic economy will expand this year but revised down forecasts contained in a report published six months ago
uk insurers could face more than 30 mln stg of insurance claims following the zeebrugge ferry disaster a spokesman for lloyds of london said
the dollar was holding firm at above 142 yen on tuesday morning
asea group the diversified industrial concern based in vasteras sweden said it expects 1987 earnings after financial income and expense to be flat compared with 1986 when it earned 253 billion swedish crowns or 3711 mln dlrs
in retaliation for what washington saw as deliberate community moves to exclude us grain the united states was poised to impose swingeing tariffs on european community food imports and a major trade war was averted at the last minute
it also said the firms financial performance as measured by profitability and debt leverage underscore strong credit quality
dinner bell dinbo leverage buy out dropped
congress should give the us agriculture secretary the authority to keep the 1987 soybean loan rate at the current effective rate of 456 dlrs per bushel in order to help resolve the problem of soybean export competitiveness usda undersecretary dan amstutz said
by replacing the product line earnings have soared he said of decs line of vax computers
employment in manufacturing during fiscal 1987 88 was predicted to fall 550000 from the current year due to higher job losses in the steel shipbuilding and heavy electrical machinery sectors nomura said
capital homes builds single family homes in the washington dc area and is also active as a land developer both for its own use and for sale to other builders
wichita said it it will acquire all of the outstanding shares of fountain in an exchange for about 11 mln newly issued wichita common shares
he said the moves to encourage investment in the us are part of taiwans efforts to cut its trade surplus with washington which rose to a record 136 billion us dlrs in 1986 from 1985s 102 billion
everybody feels it can still be managed one source said of market developments
in order for the other carriers to come down to twas wage scale in a merger twa would have to be the surviving entity analysts said
peru government assumes debt of electroperu
the bond tender is the first for the fiscal year ending on march 31 1988
profit taking pulled bond prices down from the days highs but a record close in the us stock market stimulated buying late in the day that offset this somewhat
gross currency reserves in the week rose by 200 mln marks to 1095 billion
investor paul bilzerian said if pay n pak stores inc enters into a merger accord with him he will immediately begin a tender offer for 75 mln shares for 20 dlrs per share in cash
the push to adopt new instruments has not been great in the past owing to wide spread belief they are speculative which gives them a bad name in west germany
drilling will begin in late april 1987 in 61 meters of water and will be drilled to a total depth of 3500 meters canterra said
rjr nabisco sold 500 mln dlrs of sinking fund debentures due 2017 via lead manager shearson lehman brothers inc
the company said depending on the success of the talks and operating results for 1987 one or two more properties could become subject to similar negotiations
the cabinet has approved a finance ministry plan to raise the amount of outstanding government bonds as a percentage of the total budget in financial year 1987 88 starting july 1 to meet growing demand for funds for major construction projects a cabinet official said
1985 4th qtr and year oper net excludes a loss of 412 mln dlrs or 251 dlrs per share and a loss of 363 mln dlrs or 221 dlrs per share respectively for discontinued operations
dealers noted that strong demand had been detected for the bonds yesterday afternoon and interest was further stimulated by sterlings surge at the opening this morning
sec moves to discipline allegheny intl ag 
scott instruments corp said its independent public accountants qualified the report on scotts 1986 financial statements because of its weak financial condition
city of bergen launches 80 mln canadian dlr bond
the press reports said fumio watanabe head of the federation of economic organisations would propose that britains cable and wireless plc be given a five pct stake in a telecommunications firm and a seat on the board
dominion resources inc d 3rd qtr net
responding to the republican plan agriculture secretary richard lyng and trade representative clayton yeutter said they favor a flexible targeted use of eep instead of an across the board program which they termed too costly
it did not say whether only opec or both opec and other producers were behind the reported rise in mideast output
oper shr profit 11 cts vs loss 27 cts oper net profit 662625 vs loss 774002 revs 439 mln vs 184 mln year oper shr profit 37 cts vs loss 37 cts oper net profit 1487796 vs loss 1119626 revs 1501 mln vs 517 mln note 1986 4th qtr and yr oper net excludes 6134 dlrs and 720500 dlrs or 20 cts per share respectively for realized investment gains
x broken kernels not included supply minus use does not equal ending stocks in breakdowns
hawker siddeley offer for clarostat clr ends
it has said at the outset that it accepts the legitimacy of these debts and it is determined over time to meet its obligations fully he said
allegheny international inc the consumer products concern that today announced a merger agreement with a first boston corp fbc affiliate in a deal worth about 500 mln dlrs said it intends to divest more units as a way to increase profits
the communique released in conjunction with the semiannual meetings of the international monetary fund and the world bank said the very low income countries needed a cancellation of debt to industrial countries a conversion of part of their debt into grants and a rescheduling on concessional terms
a department spokesman was commenting on remarks by commerce department under secretary robert ortner that the yen was undervalued 10 or 15 pct against the dollar but european currencies were fairly priced against the us currency
in 1986 it had operating revenues of about 13 mln dlrs the company said
south african firm to continue tests
daiwa the us unit of daiwa securities co ltd of japan has become the first foreign bookrunner in the us corporate debt market this year
crosby said however he expects the company to report higher first quarter 1987 revenues than the 1986 first quarter revenues of 118 mln dlrs
the company said the debt is expected to be listed on the luxembourg stock exchange
gardini commenting on callebauts remarks said amylum should know that one succeeds in a bid by making the right offer at the right moment exactly as ferruzzi did in the case of the acquisition of cpcs european business gardini said it was not callebauts business to concern himself with the european sugar capital raising operation under study he added
the main yugoslav steel producers plan to market 535 mln tonnes of steel goods this year or 150000 tonnes more than last year with 15 mln tonnes going to export
de zeeuw goes to canada later this week
several hours before a regularly scheduled board of directors meeting gillette disclosed that perelman requested consent of its board for an offer of at least 4050 dlrs per share
thirteen vs 12 and 53 vs 52 week periods
commercial credit co a unit of control data corp is raising 150 mln dlrs through an offering of notes due 1992 with an eight pct coupon and par pricing said lead manager first boston corp
shr 54 cts vs 47 cts net 11 mln vs 941000 revs 89 mln vs 103 mln year shr 165 dlrs vs 164 dlrs net 33 mln vs 33 mln revs 374 mln vs 390 mln
a council communique said the sale was made at the best prevailing conditions in the world sugar market
high feed prices will cause the chinese to reduce hog herd growth and pork production this year the us agriculture department said
inertia dynamics trim to pay stock dividend
but a further improvement in the terms of trade left the deficit smaller than last year
schlesinger today repeated the bundesbanks reluctance to cut its official interest rates further
turning to the question of britain eventually joining the exchange rate mechanism of the european monetary system ems lawson repeated that it is most unlikely we will enter before the next election he said britain was keeping the subject of full ems membership under constant review
barclays de zoete wedd ltd has been added to the group of dealers for the program
the department said first quarter exports expanded to 606 billion baht from 566 billion
the aid will include 30000 tonnes of wheat and 1200 tonnes of vegetable oil for farmers in the wollo and illubabor regions
a severe drought that summer in major producing states caused yields to tumble and final crop production to total only 42 billion bushels
tokyo bids to stop chip row becoming trade war
baglini an observer at argentinas negotiations in new york with the steering committee for its 320 creditors banks told the radio del plata in a telephone interview that the banks were divided on the loan request
chairman rene geronimus told a news conference the share offer price expected to be announced tomorrow by finance minister edouard balladur would be between 110 and 130 francs
metals manufacturers estimate some 2000 jobs could be affected by the boycott is suitable replacements for these ores are not found
agency to review johnson johnson jnj sweetner
nogales said the paris club had agreed to reschedule bolivias debt over 10 years with five to six years grace and had waived all interest payments until the end of 1988
buying reserves is a good strategy for most of these companies smith said
dealers said several new eurosterling issues were currently in the pipeline and an early issue is expected to be for a major european bank which currently has a mandate in the market
burndy corp bdc 3rd qtr oct 2 net
hutchison said the new issue will help increase flexibility when it is planning future expansion moves or making acquisitions without affecting the existing control structure of the group
mark iv iv starts bid for conrac cax 
from our point of view its a question of entering into negotiations or discussions to make appropriate changes to contracts to reflect the changes that are going to take place on june 1 spokesman john cote told in reply to a query
the french move is thus seen as a form of protest designed to force the commissions hand
brazil was west germanys main latin american supplier but shipments fell to 44 billion marks from 64 billion in 1985
medium sized private pamukbank as announced a strong recovery in 1986 pre tax profit to 129 billion lira from 603 mln in 1985 while yapi ve kredi bankasi profits increased to 306 billion lira from 61 billion
news of the release produced an early downward reaction in local physical markets but by midday some sections had halved early two stg losses while others were unchanged
december rod mill wirebar use nearly doubled to 3148000 lbs in january from 1540000 lbs in december
the payment date is may 27
on prices the survey showed that 62 pct of companies expect average prices at which domestic orders are booked will remain unchanged in the coming four months up from 57 pct in february
dotronix had income of 659663 dlrs on sales of 71 mln dlrs for the six months ended dec
delta air lines inc said it completed the acquisition of western air lines inc this morning
the selling concession is 1 1 8 pct while management and underwriting combined pays 5 8 pct
he will meet zheng tuobin minister for foreign economic relations and trade attend a meeting of the us china joint commission on commerce and trade and address a management and training organisation
dec 31 shr loss one ct net loss 176639 revs 150300 note company went public in april 1986
canada leaders fail to set pact on free trade
intl hydron corp hyd 4th qtr oper net
stocks of finished goods and raw materials fell sharply in the march quarter and further depletion was forecast for the june quarter the survey said
quebec caisse desjardins brings euroyen bond
they traded at 856 francs on january 9 before the first suspension
deilmann ag
he expects rates to gain 50 to 100 basis points in early summer from the 950 pct fixed rate effective in february
the european investment bank eib is raising 400 mln marks through a 10 year eurobond carrying a coupon of 6 1 8 pct and priced at 100 1 4 market sources said
deutsch suedamerikanische bank ag a wholly owned subsidiary of dresdner bank ag drsdf said it was not worried about brazil stopping its interest payments
it also indicated it planned to allow the release of another 30000 tonnes from april 23
on february 22 the united states japan west germany france britain and canada agreed that major currencies were within ranges broadly reflecting underlying economic conditions given commitments by washington to cut its budget deficit and by toyko and bonn to boost economic growth
the new international cocoa agreement should lead to a stabilisation of prices both benefitting producer countries and promoting an equilibrium in international economic relations european community development commissioner lorenzo natali said
mthly div 71 cts vs 71 cts prior pay april 30 reord april 15 note franklin insured tax free income fund
period ended jan 31 shr 38 cts vs 61 cts net 7012000 vs 11193000 revs 2230 mln vs 2003 mln year shr 111 dlrs vs 136 dlrs net 20214000 vs 23602000 revs 6565 mln vs 5205 mln avg shrs 18257631 vs 17376480
pier 1 imports inc said it amended its record and distribution dates for its previously announced three for two common and 25 cts preferred stock split
payment is due april 21
the bank was also studying philippine proposals for loans to finance geothermal and education projects sources said
in my opinion it is significantly higher sergeyev who works at the economics institute of the soviet unions academy of sciences said
athey products corp atpco 3rd qtr net
time inc is raising 250 mln dlrs via an offering of sinking fund debentures due 2017 yielding 884 pct said lead manager salomon brothers inc
they were rather a direct reaction to higher interest rates in the united states
it said the other loan is 264 mln dlrs in support of project to provide affordable housing urban infrastructure and social services to low income families in slum and squatter areas
government moves to encourage lending and investigate company complaints about late public sector contract payments could boost confidence but recession has slowed the nations industrialisation program and discouraged foreign investment
although the market is expected to be resting until trading switches to an april value date the euroyen sector is expected to be buoyed by some professional switching out of japanese government bonds into relatively cheaper euroyen bonds
ing c olivetti ec spa olivm does not exclude the possibility of investing in a semiconductor venture currently under discussion between italys stet societa finanziaria telefonica pa and frances thomson csf tcsfpa an olivetti spokesman said
it said the sale did not include us properties acquired from berkeley exploration and production plc last december
the debt is rated a top flight aaa by both moodys and s and p
joe gold said the golden patricia vein has not been tested at depth or along strike to the east and west and exploration is continuing on the golden patricia property and the adjacent wholly owned muskeg lake property
senate agriculture committee chairman patrick leahy d vt is leading a group of farm state senators in an effort to broaden the criteria in such a way as to enable moscow to be eligible for the subsidies sources said
so far 20 corpses have been recovered bracho said
salmonella which in extreme cases can cause death is found in approximately 37 pct of us broilers 12 pct of raw pork and three to five pct of raw beef houston said
money market analysts said the positive trade news touched off a modest rally in the canadian dollar which rose to 7685 us cts on north american markets early this morning after closing at 7658 cts wednesday
northern indiana public svc ni again omits div
tertiary industries provide services to manufacturers and a downturn in manufacturing profits will adversely affect service industries he said
americus trust for american home products shares said it extended its deadline for accepting tendered shares until november 26 an extension of nine months
it also owns an undeveloped gold project
ec commission details sugar tender
the creditwatch affects chrysler credit canadas short term notes guaranteed notes debentures and the recently completed 75 mln dlr 925 eurobond issue due april 15 1993
shr 104 dlrs vs 67 cts shr diluted 101 dlrs vs 66 cts net 632 mln vs 405 mln sales 170 billion vs 143 billion nine mths shr 291 dlrs vs 288 dlrs shr diluted 285 dlrs vs 282 dlrs net 1765 mln vs 1727 mln sales 508 billion vs 449 billion avg shrs 603 mln vs 596 mln avg shrs diluted 620 mln vs 613 mln
consolidated tvx said it will acquire 29 pct of cmp a public gold mining company in which tvx already holds a 15 pct interest making tvx the largest single shareholder
grain trade officials have speculated that usda would make a wheat export enhancement offer to moscow but usda officials have said the matter is not under active consideration
the official kamal kharrazi said washington had now become involved in what he called a full fledged war with iran
this weeks average yield compares with 609 pct a week ago
gaviria said the measures merely responded to new market factors since a return to a system of international coffee organisation ico export quotas may not occur in the short term
it said the notes will be issued in registered form and be available in denominations of 10000 us dlrs and in 5000 dlr increments above that amount
mcrae industries mri a increases payout
macandrews and forbes group inc said it began an 1850 dlr a share cash offer for all common stock of revlon group inc it does not already own
the annual meeting had been scheduled for the second week of april
it also gives a premium of 91 pct over pioneers last reported net tangible assets per share csr said
stock brokers and bankers polled by said although equity shares or debenture issues floated by private firms provide a higher return and shorter maturity they are fast losing their popular appeal as they are liable to both wealth and income taxes
for the nine months ended march 31 personal computer expects a net loss of about 325000 dlrs compared to a loss of 584000 dlrs the previous year
the political will is not there on the part of some consumers to make agreements work martinez cuenca said
exports in february totalled 3794 mln dlrs 172 pct above the january figure
the government has said it will ask for another 500 mln dlr long term loan from a world bank led consultative group of multilateral and bilateral aid donors to partially fund its land reform program
one dealer said it was seen in the market twice in early dealing buying five mln dlrs each time
the treasurys operating cash balance totaled 17817 billion dlrs on march 5 compared with 18330 billion dlrs on march 4
bangladeshs jute exports fell to 410 mln dlrs from 500 mln in 1986 87 according official figures
interbank deposits increased to 15852 billion dlrs against 14795 billion and 12003 billion respectively
savings acuisition in california announced
alimullah said exports rose 18 pct to 35 billion dlrs from 29 billion dlrs in 1985 86
talking point american express axp 
hughes capital unit signs pact with bear stearns
kidston says higher net reflects gold sale rise
1985 net includes nonrecurring cost of 26 mln dlrs and provision for separation pay of 15 mln dlrs
the new convention attempts to put an end to this
holllinger hlgto paying 50 mln dlrs for buy
ashmun said the company will be able to utilize enhanced cash flow to develop its large resource base and explore for additional reserves at a time when exploration and development costs are low and opportunities abound rather than using a disproportiaonate share of cash flow for debt service
homestead hfl begins public share offering
it said it expects another 277 mln dlr gain in 1987 from the sale of the remaining shares
concentrates produced were 238000 tonnes of zinc and 81000 tonnes of lead
tokyo to issue 100 mln dlr bond in new york
it is not arithmetically possible for every country in the world to be a net exporter at the same time
it again bought bills for resale to the market on april 2 at a rate of 10 15 16 pct
uspci vice president of finance larry shelton said he could not comment on the adequacy of the offer or on when the board would meet to consider it
qtr ends feb 28 shr 37 cts vs 35 cts net 4346000 vs 4202000 revs 232006000 vs 223151000
natned forecasts 1987 results in line with 1986
he was in london to brief producers on the managua meeting
total net reserves including reserves held by commercial and major savings banks and corrected for exchange rate adjustments rose to 58373 billion crowns in may from 47835 billion in april against 32443 billion in may 1986
total us copper stocks lower in january
charter federal savings and loan association of bristol va said it has agreed to acquire jefferson savings and loan association of warrenton va
earthquake stricken ecuador is negotiating with nigeria to have the african country lend it 10000 barrels per day bpd of crude for export deputy energy minister fernando santos alvite told 
trading in hk telephone shares was suspended on october 15
despite current strong interest in gold mine stocks many investors still want to buy physical gold witte said
it said new plantings had slowed markedly in both countries but the effects of this will not be felt until 1988 90
this dependence on oil generated revenue distorts the countrys economic performance directly by acting as a disincentive to new exploration and indirectly by affecting trading competitiveness through high energy costs he said
consequently monetary growth may return to more modest levels heller said
bankers welcome spanish reserve requirement hike
egypt for its part has been holding talks with the imf aimed at reaching a final accord on a new one billion dlr loan package with the united states pressing for a quick deal according to the sources
his letter of resignation said the action was to alleviate ciba geigys stated justification for making the unsolicited offer that it had not contemplated another significant investor having representation on the board when its spectra physics investment was made
the inquiry is at an important time for the wheat industry as the substantial fall in world prices is likely to trigger underwriting support from the government for the first time he said
treasury secretary james baker reiterated his hope that this weeks rise in prime rates would be a temporary blip upwards
banc one corp one 3rd qtr net
dutch consumers and food processors would be hit hard by the proposed ec tax on oils and fats dick de bruyn chairman of the commodity board for margarine fats and oils mvo said at the annual meeting
borg warner bor to sell unit for 240 mln dlrs
st
the us has dropped its insistence that the floor price in a new international natural rubber agreement inra be revised downward under certain circumstances conference sources said
mars store inc said it expects to report a loss of about 800000 dlrs for the fourth quarter and about 11 mln dlrs for the fiscal year ended january 31
the average price was 97480
the traditional industry seems destined to be replaced by new technology imports or some combination of both
these factors indicate the company may be unable to continue its existence
recent examples were the rise in the financial rand and the sharp increase in foreign exchange reserves he said
occidental petroleum corps occidental chemcial corp said it sold the process chemicals division it acquired as part of the september 1986 purchase of diamond shamrock chemicals to henkel kgaa of dusseldorf west germany
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
american republic bancorp arbco 3rd qtr net
at and t t 3rd qtr net
currently it must be shut twice a year
commenting on published reports that imperial had suspended its oil supply contracts cote said its not a question of cancelling or suspending any of the agreements at this point on june 1 albertas energy resources conservation board will lift its crude oil marketing prorationing system regulating shut in light and medium crude production on a trial basis to the end of 1987
1986 loss includes writedowns approximating 14 mln dlrs
officials said the ec had asked gatt to arbitrate on the fish dispute with canada
full name of company is the institute of clinical pharmacology plc based in dulbin ireland
multi family permits were up 50 pct in september to 503000 units after falling 30 pct in august
i think its about time senate democratic leader robert byrd of west virginia told reporters
he said management has done a good job of turning around the telephone answering machine business
liquidity on the call credit market has fallen from around nine billion markka in early december to 167 mln last week while three month credits have risen to three to four billion
the rate was last adjusted on march 9 when it was cut to 7 3 4 pct from the eight pct rate set in january
coradian corp cdin year net
investment tax credits three mln dlrs vs 8900000 dlrs in quarter and 4900000 dlrs vs 164 mln dlrs in year
coca cola enterprises files to offer 500 mln dlrs of debt
fed expected to add temporary reserves
shr 124 dlrs vs 116 dlrs net 101 mln vs 8910000 nine mths shr 242 dlrs vs 330 dlrs net 198 mln vs 254 mln assets 43 billion vs 38 billion deposits 34 billion vs 31 billion loans 26 billion vs 23 billion
packard hwp cuts personal computer prices
the strike by 40000 seamen comes as brazil faces a serious debt crisis brought on by a sharp deterioration in its trade balance
non callable for life the issue is rated a top flight aaa by both moodys and standard and poors
the china daily quoted yang jike vice governor of anhui as saying farmers could earn twice as much growing cotton as they could growing grain and three times as much growing cash crops like flax
an additional 315500 tonnes of wheat are still available to west african countries under the export enhancement program initiative announced october 30 1986 it said
kerin was referring to the governments underwriting of the guaranteed minimum price paid to wheatgrowers by the australian wheat board near the start of the season
first toronto an investment bank also said it planned to grant directors an option expiring march 1 1992 to acquire up to 500000 first toronto common shares at five dlrs each
ed and f
something is wrong with the system
berry petroleum norris oil noil to merge
a major misunderstanding is that the private report was government policy
spain has granted cuba a 25 mln dlr credit line for the purchase of spanish goods and services in the iron and steel industry the repair of fishing boats and development of industrial projects prensa latina said
the resolutions approved by voice vote now will be sent to the senate floor were they are expected to be approved
ambrit inc abi 4th qtr jan 31 net
i am convinced that they are attempting to move their policies in the right direction
one senior banker said he hoped that final agreement would be reached this week but cautioned that a number of major issues are still outstanding
the increase brings the companys postings for the west texas intermediate and west texas sour grades to 1900 dlrs a barrel
guinn said the commission found 180 mln dlrs of the hike was based on questionable calculations and assumptions while 45 mln dlrs might represented unneeded modernization costs
among the main factors affecting liquidity bills maturing in official hands and the take up of treasury bills will drain some 1085 billion stg
osr corp said it has agreed to acquire the properties and assets of telcom international group for 105 mln common shares which would give former telcom owners an 84 pct interest in the combined company
shell uk ltd year 1986
s and p raised hughes tools senior debt to a minus from b plus subordinated debt bbb plus from b minus and commercial paper to a 2 from c
proven reserves as of december 31 1985 were 978000 tons grading an average of 0194 ounces of gold a ton equivalent to about two years future production
ali said the problem of differentials is a real one
the loan may be drawn down until april 1988 but only if mexico experiences a shortfall in public sector external receipts and provided that mexico first qualifies for drawings under a 600 mln sdr oil contigency facility from the international monetary fund
comissaria smith said spot bean prices rose to 340 to 350 cruzados per arroba of 15 kilos
galaxy cablevision lp said it signed a letter of intent to sell the assets of its cable television systems in west texas which serve about 4600 basic subscribers through nine cable television systems
transcanada chief financial officer h
the historical cross rates for sterling and the mark tell much the same story
the united food and commercial workers union local 222 said its members voted sunday to strike the iowa beef processors inc dakota city neb plant effective tuesday
sumitomo bank sumi declares stock dividend
economists polled by had forecast m 1 in a range from down 500 mln dlrs to up 45 billion dlrs
insituform also said james colclough has resigned from its board for health reasons and secretary scott saltpeter has resigned effective june five
oxford financial buys clancy systems
one banker said banks are agreeing reschedulings but often at a high price they are resigned to the fact that full recovery of loans is not always possible in a few cases private sector firms have been stripped of assets during or prior to debt renegotiations leaving banks virtually no hope of repayment in full
i think they will resist it said elliott schlang analyst at prescott ball and turben inc
shr profit nine cts vs loss 45 cts net profit 2500000 vs loss 9900000 revs 16800000 vs 3300000 note 1986 net includes 26 mln dlr or nine ct a shr writedown of nine pct stake in trans canada resources ltd 1985 results reflect only six mths of mining operations due to merger of erickson gold mines ltd and total eastcan exploration ltd on june 30 1985
i dont think he would be willing to take on tennecos problems with case the farm equipment unit which has been losing about 180 mln dlrs annually and is worth less than a billion dlrs on the market today
the national bank therefore last may abolished all remaining restrictions on maturities and denominations which still formally divided them
the company said the 9309394 piedmont shares together with the 2292599 piedmont shares already owned by usair constitute about 501 pct of piedmonts shares on a fully diluted basius but about 610 pct of shares currently outstanding
freddie mac adjusts short term discount rates
we thought we saw a proverbial flood of new deals with the 14 we had last month but it seems march will beat february hands down with 10 already one eurosterling specialist said
the company said the partership is building and will operate a 30 megawatt electric generation facility in schuykill county penn scheduled to begin commercial operation in july
it would be profoundly undesirable and quite unjustified for iran to react in that way he said
colonial said it also signed letters of intent to acquire first federal bank in opelika athens limestone bank in athens jackson county bank in scottsboro and commercial national bank in demopolis with aggregate assets totaling 130 mln dlrs
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
he said first quarter exports to hong kong and macao rose 355 pct to 248 billion dlrs and imports rose 553 pct to 146 billion
a conrac spokesman declined comment
franklin ohio insured tax free sets payout
this seasons uk export performance has surpassed all early expectations and has created the present nervous situation in domestic markets where the fear now is free market supplies may not last out until new crop becomes available in august
it said its dealings in the companys common stock were for investment purposes only
egypt which exports a third of its output currently sells its top suez and ras bahar blends for 1725 dlrs a barrel
us vegetable oil products output in february
uk chancellor of the exchequer nigel lawson said the collapse of british share prices this week held no implication so far for domestic interest rates
lawson said in a television interview that he did not regard the pounds present exchange rate was uncomfortably high
the companies said under the terms of the agreement all uccel shareholders will receive about 169 shares of computer common stock for each of the approximately 17 mln uccel shares outstanding
moodys investors service inc said it is reviewing the b 2 debt ratings of resorts international inc and of resorts international financing inc for possible downgrade
the company paid an initial liquidating dividend of 1575 dlrs per share on january eight
jan 31 end shr not given net profit 105013 vs loss 745641 sales 3661565 vs 2810132
that pronouncement encouraged analyst david crossen of sanford c
the acquisition price is 120 mln dlrs in cash a six mln dlr three year note and 100000 shares of kirschner common stock
treybig who founded the cupertino calif based company said he has seen a rebound in computer orders in the united states
he said that the majority of french business leaders were enthusiastic about the abolition of barriers and saw it as an opportunity rather than a danger for their companies
coffee deliveries to the state run coffee board of kenya rose 17 pct and tea deliveries rose four pct during the period he said
us corporate finance bank paper pressured
the company said storage dimensions incorporates maxtors high capacity 5 1 4 inch winchester and optical disk drives into a family of data storage subsystems for ibm pcs xts ats and compatibles
political sources said the government of president jose sarney was closely following the strikes and the overall fuel supply situation
however he said that sole reliance on dollar depreciation to reduce our trade deficit is not desirable as it risks inflation in the united states and recession abroad
the government for its own reasons has been delaying approval of the project but we expect it to come through by july yulo said
john lafalce d ny who said it would help ease the third world debt crisis
the broken hill pty co ltd brkns bhp said it plans a renounceable one for three issue of rights to float a new company bhp gold mines ltd bhpgm which will hold most of bhps gold interests
this brings the banks total help so far today to 120 mln stg and compares with its upward revised estimate that the system would face a shortage of some 115 billon stg
large interest rate changes were often needed to bring about small changes in the guilder mark exchange rate he added
japan moves to tighten chip export curbs
new orders rose sharply in march with production also higher
cotton planting continued progressing in the week ended april 5 but cold wet weather in the south hampered seedbed preparation the joint agricultural weather facility of the us agriculture and commerce departments said
he said searles first quarter sales will be up 218 pct to 179 mln dlrs from 147 mln dlrs in the year ago quarter
becor said the cash portion of the offer remains unchanged at 1045 dlrs a share but the principal amount of debentures would increase to 350 dlrs from 300 dlrs a becor share
he gave no more details
this has not been good for coffee producers more so in a situation where the prices dropped by 200 pounds per tonne of robusta coffee j
they just arent he said
y running bales
the company said the acquisition is subject to approval by colonial shareholders and regulatory authorities
turkey seeking 100000 tonnes sugar trade
the new china news agency quoted zhang yan a delegate to the national peoples congress attacking grain policy
norgold will take control of a portfolio of precious metal exploration and pre development interests held by nbh
the companys 1987 program of diamond drilling underground drifting and metallurgical evaluation is scheduled to start on april
vicorp restaurants inc vres 1st qtr feb 15 net
last year dart group owner of auto trak inc and crown books competed against kohlberg kravis to acquire safeway stores inc
hu said that instead of physical certificates having to travel back and forth at each transaction with side trips to the mas for registration the mas will maintain a computerised system for updating records in a central register
sales from the group in 1986 were approximately 160 mln dlrs the company said
it said government and private exporters shipped 27510 and 57450 tonnes respectively
exports rose 21 pct last year against 23 pct in 1985 but the finance ministry had predicted a growth of 28 pct
one of the top executives of the international monetary fund imf has tendered his resignation charging that the united states has been pressuring the agency to reduce the conditions it places on some loans monetary sources said
the department previously said the index fell 10 pct in january
dharyono said production was behind a five year plan target of 420000 tonnes for the current year but indonesia is trying to boost output through introduction of higher yielding seeds better training for farmers and increased use of fertilizers
federal resources corp said it has acquired the capital stock and related real estate assets of new generation inc a regional consumer electronics specialty retailer
assistant treasury secretary david mulford said rapid progress was being made in talks with commercial banks for loans to argentina the philippines and brazil
prebble said in a statement the government would appoint an adviser to help it decide how the shares should be sold the timing of any sales and the price
a previously adjourned meeting of hughes tool stockholders will be resumed this afternoon it said
asarco ups us lead price 050 ct to 27 cts
coffee accounted with 320 mln dlrs of exports up from 222 mln dlrs in august and 212 mln in september 1986 salek said
ames said yesterday that inventory shortages found at its secaucus nj distribution center would hurt results for the year ended january 31
they are non callable for life
johnson geneva said pan am divested owership in the project as part of a corporate restructuring plan but will continue to provide engineering services on a contract basis
the sources said salomon believes that other money center banks may feel compelled to follow citicorps cci lead in its filing with the securities and exchange commission relating to its loan exposure to brazil
dealers and brokers are required by us securities law to disclose their mark ups if they are excessive the sec said in a public notice
washington however was not satisfied with the cuts and pressed for more reductions as a way of cutting its huge trade deficit with taipei
it said the transaction is expected to be completed within 60 days at which time the mcdowell board would be restructured to include interpharm management
for the moment we filed a one billion dlr shelf registration for approval by the sec which we believe will be approved very shortly he said
texaco inc tx said its decision to file for protection under chapter 11 of the us bankruptcy code will not affect the majority of its businesses
inland vacuum industries inc ivac 1st qtr net
i am convinced that they are attempting to move their policies in the right direction
gold imports in jan dec 1986 totaled 15749447 ounces vs 8225999 ounces for the same period in 1985 while exports stood at 4612919 ounces and 3966678 ounces over the respective periods the bureau said
she said production in the first two months of 1987 totalled 34550 tonnes compared with 36462 tonnes in the same 1986 period
tons of toys inc tonso 1st qtr aug 31 loss
results in us funds
we consider this matter closed he said
there were no shipments of us grain or soybeans to the soviet union in the week ended march 12 according to the us agriculture departments latest export sales report
conflicting economic indicators from the us have also been dampening market activity he added
retail energy prices rose strongly in january reflecting the firming of world oil prices
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
finance and planning minister ronnie de mel has left for washington to discuss sri lankas request for an international monetary fund imf loan facility of up to 65 billion rupees ministry officials told 
merrill lynch and co recommended today by a painewebber analyst rose 2 5 8 to 45 3 8
shr loss 56 cts vs loss 71 cts net loss 809000 vs loss 10 mln revs 53 mln vs 53 mln year shr loss 151 dlrs vs profit 61 cts net loss 22 mln vs loss 23 mln revs 265 mln vs 291 mln
gaf corp said it has made an all cash merger proposal to borg warner corp at 46 dlrs per share for all the companys common stock
bloated inventories and in some cases poor management created problems
banking industry sources said the move is viewed as groundwork to establish citicorp throughout the california market well before the 1991 law change that will allow it to operate as a bank in the state
many debtor countries had realised that it was not possible to mobilise capital flows and especially direct investments without such policies stoltenberg said
the selling concession is 1 1 4 pct while management pays 1 4 pct and underwriting 3 8 pct
regular government securities issues are needed to meet the demand of banks insurance companies other financial institutions and corporate and individual investors hu said
but he said that even if all obstacles were removed total trade between the two countries would remain between two and three billion dlrs a year
mexico colombia argentina and others rejected such action and mexican finance minister gustavo petricioli merely said brazil is having problems we are sure will be temporary but brazils action has had an impact on other debt negotiations speeding agreement for chile and venezuela last month and influencing current talks with argentina
dart had offered to buy dayton hudson for 68 dlrs per share valuing the minneapolis based retailer at 66 billion dlrs
shr loss 40 cts vs loss 29 cts net loss 15 mln vs loss 11 mln revs 289 mln vs 285 mln six months shr loss 99 cts vs loss 69 cts net loss 37 mln vs loss 26 mln revs 525 mln vs 517 mln
standard and poors corp said it upgraded georgia pacific corps 11 billion dlrs of debt
standard and poors corp said it may cut piedmont aviation incs bbb minus preferred stock because of usair group incs u proposed acquisition of the airline
but coupled with other factors such as waning foreign speculative buying of mark bonds on the dollars decline long term yields may to have to rise economists said
rentco had revenues of about 70 mln dlrs
it had closed at 15105 15 yen the previous day
1985 4th qtr includes loss of 35 mln dlrs for discontinued operations
the probability that much of the shake up at standard was now complete was one possible factor behind the timing of the tender offer spedding said
oats in mln bushels 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 yield bu 560 560 637 637 start stcks 184 184 180 180 production 385 385 521 521 imports 30 30 28 28 total 598 598 729 729 oats in mln bushels cont 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 usage feed 400 400 460 460 other 85 85 83 83 ttl domes 485 485 543 543 exports 2 2 2 2 total 487 487 545 545 end stcks 111 111 184 184 avgprice 100 20 100 20 123 123 note average price in dlrs per bushel
finance ministry approval of yen commercial paper issues by japanese residents which is expected soon will stimulate local agencies to grow quickly securities analysts said
shad sees progress on insider trading
american airlines spokesmen were not available
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
rep
lucky stores inc reinstates quarterly dividend at 125 cts per share
legg mason inc lm 2nd qtr net
webcor wer says bank demands payment
it currently has 7660000 dlrs in outstanding debt
secretary of state george shultz said the us would erase its large foreign trade deficit faster than many predicted and the consequences for its trade partners might be traumatic
gasoline stocks were at 2456 mln barrels some 172 mln barrels above year ago levels
the company said continued strength in its results prompted the move
he would not comment on a successor
countertrade accounted for just five pct of indias 2565 billion dlrs in trade during fiscal 1985 86 ended march against almost nothing in 1984 85 official figures show
the central bank said it issued 496 billion dlrs worth of certificates of deposit cds today after issuing 403 billion of similar cds yesterday bringing the total value of cd issues in 1987 to 13946 billion
it added gencorps board had an obligation to present any alternative proposal to shareholders in a way that allowed competing offers
unitrode corp utr 4th qtr jan 31 loss
kim said a sudden rise in the surplus would cause inflation and lead to trade friction with seouls major trading partners particularly the united states
the american stock exchange said it today opened put and call options trading in the common stock of harcourt brace jovanovice inc
the selling concession is 1 1 8 pct while management and underwriting combined pays 5 8 pct
shr profit 26 cts vs loss nine cts net profit 103 mln vs loss 10 mln revs 2082 mln vs 1233 mln year shr profit 38 cts vs profit nine cts net profit 130 mln vs profit 28 mln revs 6355 mln vs 4293 mln note 1986 full year results include extraordinary loss of one mln dlrs or three cts per share
consolidated first quarter figures were not disclosed
the price gyrations have combined with rising trading volumes to bring unprecedented volatility to some us securities markets
none of us really wants to injure negotiations that might be going on he said
foreign trade in the nine months totalled 942 billion roubles
in the six months to february m3 which excludes holdings of german non banks abroad grew at a seasonally adjusted annual rate of 85 pct after 98 in the six months to january
the coffee sugar and cocoa exchange has expanded the normal daily trading limit in coffee c contracts to 60 cents a lb from the previous 40 cents effective today the csce said
oversea chinese banking corp ltd ocbmsi year
he said the dispute was a row which should not have happened and agreed that much of the blame lay with us treasury secretary james baker who had publicly criticised west germany for having raised its key interest rates
saarbruecken would be a suitable place for an announcement on this gesture to european unity as it is the capital of the saarland bordering france and was twice under french occupation this century
galactic said march leaching production at summitville is expected to exceed 2500 ounces raising gold equivalent production since the june 5 1986 start of leaching to 65000 ounces
last year pacific gas reported earnings of 925 mln dlrs or 260 dlrs per share
the ibc will total all the figures calculate each shippers participation and use this as a basis for allocation of individual quotas the ibc spokesman said
naarden set a cash dividend of 180 guilders unchanged from last year but without last years share option for payment
they cautioned the fed board to take account of the potential impact of the plan on the ability of us banks to compete in world financial markets
speaking to reporters at the annual meeting of the inter american development bank iadb here nogales said bolivias bank advisory committee led by bank of america is seeking permission from creditor banks worldwide to go ahead with the scheme
rain reached along the northern pacific coast across northwest utah maryland deleware virginia the carolinas georgia and northern alabama
dutch animal feed usage down in first half season
usda winter spring potato estimates
there has also been speculation by japanese traders that opec might want to mark up prices of high sulphur heavy crudes to correspond with greater demand and higher fuel oil prices
the merger will be effective june 1 coinciding with the retirement of utah international chairman and chief executive bud wilson bhp said in a statement
hong kong recorded a 351 billion hk dlr deficit in february after a 254 billion dlr surplus in january as imports climbed and exports slid the census and statistics department said
oper shr basic 104 dlrs vs 77 cts oper shr diluted 89 cts vs 60 cts oper net 316 mln vs 125 mln revs 5006 mln vs 1709 mln avg shrs 291 mln vs 143 mln note 1985 net excludes extraordinary gain of 1756000 dlrs or 12 cts shr basic and eight cts shr diluted
chicago pacific cpac upgraded by moodys
the government has forecast growth rate of three to four pct for 1987
the bonds will each carry eight warrants each giving the right to subscribe to one 100 franc nobel share at 140 francs between june 1 1987 and may 31 1994
the median price of a home in january reached 100700 dlrs the first time the price has exceeded 100000 dlrs
an additional 761 head of dairy cattle are still available to gulf countries kuwait bahrain oman qatar and the united arab emirates under the export enhancement program initiative announced october 30 1986 it said
operators subscribed to 1427 billion lire of the 3000 billion lire issue of seven year discount certificates cts the cts of 100 lire nominal value each were offered for competitive tender at a price of 74 lire
mobil corp filed with the securities and exchange commission for a shelf offering of up to one billion dlrs of debt securities on terms to be determined at the time of the sale
we think twa might just be putting up a trial balloon analysts said the offer must be taken seriously by usair but that the airline will probably reject it because the price is relatively low compared to other airline deals
martin processing mpi accepts courtaulds bid
we consider this to be a merger of equals spiller will become chairman of boston five bancorp and neworld president james m
boral said the notes will be convertible into ordinary shares on a one for one basis on the same dates in 1989 1990 and 1991 and 1992
it now operates 64
us telecommunications inc ut 3rd qtr net
buitoni said in a statement that vismara had 1986 sales of 181 billion lire and net profit of 11 billion lire employs 950 people and has four subsidaries
shr 78 cts vs 61 cts net 4774000 vs 3683000 nine mths shr 214 dlrs vs 177 dlrs net 131 mln vs 107 mln
but she later said such a move depended on other ems countries scrapping residual capital controls
the spokesman described mondays talks which he called private as very positive
sales of the top of the line mainframes commonly called the sierras bailed out the whole quarter weil said adding if this continues it augers well for the rest of the year m
meridian energy castone end letter of intent
year to december 28 1986 shr 201p vs 176p div 50p vs 46p making 92p vs 85p turnover 2421 mln stg vs 2115 mln pretax profit 248 mln vs 187 mln tax 67 mln vs 58 mln operating profit 283 mln vs 213 mln investment income 10 mln vs 07 mln net finance charges 45 mln vs 33 mln company full name is morgan crucible co plc mgcrl minorities and provisions for preference dividends 07 mln vs 12 mln extraordinary debit 09 mln vs 13 mln credit operating profit includes carbon 83 mln vs 70 mln technical ceramics 70 mln vs 56 mln thermal ceramics 76 mln vs 46 mln speciality chemicals 44 mln vs 40 mln electronics 10 mln vs 01 mln m
the deal also obligates bally to buy trumps remaining stake in the company for 33 dlrs a share if the stock price does not reach that level by february 21 1988 it said
shr 27 cts vs 10 cts net 7684000 vs 2587000 revs 2739 mln vs 2037 mln year shr 90 cts vs 33 cts net 239 mln vs 8219000 revs 101 billion vs 7007 mln
venezuela seeks flexibility from banks azpurua
however for some 10 pct of new requirements the bank would try out new instruments such as bonds with warrants
initially only january march and may delivery months will be listed for trading
it also said sale volume of stretch film in the fourth quarter was lower than anticipated although it has returned to normal in recent weeks
both countries expect to conclude the talks by august 1987
the financing involves a 70 mln dlr loan which is available for drawing in the six months after signing and a 75 mln dlr revolving credit which is available for the life of the credit
they said de mel will propose to imf officials that sri lanka trim its budget deficit and control its balance of payments by cutting back on development projects and other government spending
great atlantic and pacific tea co gap 4th qtr
samudio stressed that despite the most recent attacks which cost more than four mln dlrs in damage the overall situation had improved compared with last december when initial measures were taken to combat a wave of attacks
payment is set for april 27 1987 and the securities will be listed on the luxembourg stock exchange
brazils coffee chief jorio dauster said yesterday brazil would not change its coffee policies
the largest crop since 1975 was 2374 mln tonnes harvested in 1978 according to usda data
uap inc said it has acquired slater auto electric ltd with two ontario stores and united diesel engine parts ltd of dartmouth nova scotia for undisclosed terms
earlier the company reported fiscal third quarter ended december 31 net income of 23 mln dlrs or 20 cts a share up from fiscal 1985 third quarter results of 563000 dlrs or five cts a share
if the tariffs remain in place for any length of time there will be complete erosion of exports to the united states said tom murtha analyst at james capel and co
the agriculture committee tomorrow will begin drafting amendments to an omnibus trade bill now before the house
molecular genetics inc mogn 4th qtr loss
mayfair industries inc mayf 4th qtr net
kenya provides over 50 pct of pakistans tea imports
in 1986 crds sales fell 57 pct to 197 mln tonnes from 209 mln due to the growth in imports by independent distributors following a relaxation of regulations guilbaud said
shr 76 cts vs 51 cts net 5952000 vs 4374000 avg shrs 7837511 vs 7446356 note includes gains of 13 mln dlrs vs 239000 dlrs from benefit of tax loss carryforwards
the commodity credit corporation ccc has reallocated 13 mln dlrs in credit guarantees originally granted to cover the sale of protein meals to el salvador so it may buy rice the us agriculture department said
the consumers argue that buying cheaper lower quality non member cocoas particularly malaysian will most effectively support prices because that low quality cocoa is currently pressuring the market
the important thing is that it continue year after year lawson said
yeutter says japanese curb all but certain
lo said csbc delivered the hulls of two 2200 teu twenty foot equivalent unit container ships this year to onomichi which would complete production
it is the first us municipality to arrange these types of facilities in the international capital markets
alcan australia would invite new zealand representation to its board and would apply to list its shares on the new zealand stock exchange davis said
most major us banks today matched tuesdays quarter point prime rate cuts by citibank and chase manhattan bank the first prime rate boosts since mid 1984
it will be made clear especially to our friends in japan and the federal republic of germany that growth oriented domestic policies are needed to bolster the world trading system on which they depend reagan coupled this appeal with a call for compliance with allied accords on exchange rate stability
one diplomat said the call for a report showed ministers were determined not to let the japanese question drop
quixote said its wholly owned subsidiary laservideo inc is making advancements in the art of mastering and manufacturing compact discs cd roms and laser read videodiscs
pakistan cotton production during the current crop season sept march reached 77 mln bales of 375 pounds each up 500000 from last season shafi niaz chairman of the agricultural prices commission said
the commerce department said non petroleum imports in the quarter were up 27 billion dlrs or three pct to 877 billion dlrs with the largest increases in consumer goods which rose 12 billion dlrs and in non monetary gold and passenger cars from canada up 900 mln dlrs each
according to funaro the creditor banks agreed on the need to find a solution to the crisis he did not elaborate
the non callable bond is available in denominations of 1000 australian dlrs and will be listed in luxembourg
in 1985 it reported earnings of 1274000 dlrs which included a loss of 363 mln dlrs for discontinued operations and 294 mln dlrs for extraordinary items
weekend profittaking by jobbers and general book squaring featured the fall which was aided by steady sterling versus the dollar and lack of offtake in the physicals market
p and o 1986 pretax profit 1741 mln stg vs 1256 mln
future discussions on international wheat trade should include three topics a commitment to privatization of government run export trading entities a commitment to public disclosure of sales and other terms if government entities are involved and a recognition that supply reductions by the us have kept world prices higher than they otherwise would be the two organizations said while the australian proposals are welcome the two organizations said they are not in total agreement with their assessments
treasury balances at fed fell on march 27
many sectors of the trade including large roasters and importers are adamant against voluntary compliance because of the past which was subject to tremendous irregularities as it became a matter of the trade monitoring each other one analyst said
i believe obviously if gaf takes over borg warner at the level it is proposing it would enhance gaf share values substantially said oppenheimer analyst charles rose
but he told after a speech to educators that it was in the interest of us banks to complete debt financing plans soon with brazil and other debtor nations
ongpin said the prepayments would hardly affect the philippines balance of payments position
banking sources noted that brazils monthly surplus had declined to some 150 mln dlrs in the final three months of last year against a monthly one billion in the first nine months
we have to reduce the transfer of resources brodersohn said adding that mounting economic strains in latin america make this a matter of urgency
some dealers now believe that if the dollar falls below 148 yen it will pick up renewed downward momentum and slide to 145
previously rates had been below inflation
its granite state electric unit plans to issue five mln dlrs of long term notes early this year as well
at the same time the pentagon announced on tuesday that us forces have begun escorting another kuwaiti tanker convoy southward through the gulf from kuwait
lead bank texas american bank nvs cds were lowered to bb plus b from bbb minus a 3
older germans can remember two bouts of galloping inflation this century
a world bank team led by senior economist katrine saito arrived in uganda for talks on an economic recovery program projected to cost one billion dlrs over three years
shr profit three cts vs profit nine cts net profit 102136 vs profit 307516 revs 8459182 vs 8469476 avg shrs 3448218 vs 3613672 nine mths shr loss 13 cts vs profit 28 cts net loss 458823 vs profit 1014969 revs 255 mln vs 246 mln avg shrs 3467099 vs 3612626
thomson grand public the subsidiary of thomson sa thmppa has taken over the audiovisual consumer goods division of british group thorn emi thomson grand public chairman pierre garcin said
it is too early to talk about a charge because the plan must still be approved by the lenders and unions he said
we can start to look at a point in time where the interest shifts away from dollar yen and more into dollar mark and the other european currencies the us bank dealer said
australia tug crews bar foreign container ships
for one thing traders noted it pays about the highest rate over the london interbank offered rate of virtually any newly issued security
it said lower than expected levels of new work booked in the last quarter of 1986 and the first two plus months of this year have delayed the expected growth in the engineering and construction area the company said it will remain profitable in 1987 and results should strengthen as the year progresses
general motors which saw its earnings drop to 294 billion dlrs from 1985s 399 billion said the 1986 profit was not sufficient to generate a payout under the profit sharing formula ford which earned 328 billion dlrs in 1986 up from 251 billion in 1985 said it recognizes employees efforts and fulfills its commitment to them in many ways including profit sharing
as such the remaining avenue for rationalising and consolidating the budget is through expenditure reductions he said
west german producer prices rose 01 pct in may compared with april to stand 29 pct lower than in may last year the federal statistics office said
the department said the bonuses awarded averaged 4042 dlrs per tonne and will be paid to exporters in the form of commodities from ccc inventories
the vote was 1229 or 545 pct against and 1028 or 455 pct for the contract
oper shr 35 cts vs 29 cts oper net 1185267 vs 1001315 sales 168 mln vs 124 mln six mths oper shr 42 cts vs 32 cts oper net 1420815 vs 1105555 note oper data does not include year ago qtr and six mths loss from discontinued operations of 87449 dlrs or two cts per shr
in the first quarter ended march 31 1986 restaurant associates reported net income of 313000 dlrs or seven cts a share on sales of 408 mln dlrs
it did not elaborate
shr 36 cts vs nil net 713000 vs 1500 revs 13 mln vs 9328000
another 12 ships should arrive to load 344000 tonnes of cereals by the end of the week
unidentified jets raid iranian oil platforms in southern gulf shipping sources
pakistan bids for import of 100000 tonnes sugar
by contrast monetary authorities spearheaded by the bank of japan are estimated to have bought as much as 10 billion dlrs in the last 10 days of march but could not prevent the dollar from skidding through 150 yen and plumbing a 40 year low monday of 14470 yen
argentine inflation rose 65 pct in february
last years better profits had resulted from improvements in services provided by the bank and also in profits on schilling lending
domestic group turnover rose 82 pct to 293 billion marks and incoming orders increased 19 pct to 292 billion marks
the buffer stock manager of the international cocoa organization icco will tender for about 3000 tonnes of cocoa beans wednesday june 3 the icco said in a statement
the five year term loan carries an interest rate of japanese long term prime rate flat
interest rates on time deposits of more than 600 mln yen were decontrolled by the finance ministry last september
awfs state area forecasts in mln hectares with 1986 87 production in mln tonnes are as follows crop forecasts were not given for the new wheat year area crop 1987 88 1986 87 1986 87 queensland 082 082 095 nsw 307 317 440 victoria 153 163 325 saustralia 145 164 230 waustralia 353 446 560
the panelists agreed that the reports should discourage talk of revising the 1985 farm bill
in february 25 pct thought their export books were below normal and 50 pct believed them to be about normal
the complaint was filed on behalf of clem eischen a portland area resident who owns 500 shares of avia and robert withers also of the portland area who owns 954 shares and other individuals who held stock at the time of reeboks announcement
the company said that the improvement had been achieved by substantial organic growth in existing stores as well as by the opening of a further 29 new outlets and enhanced margins
and with mortgage rates now at their lowest levels in years the loans have been snapped up by eager home buyers trying to lock into cheap money
norway egypt and the soviet union agreed to help opec by restraining production or exports after he visited them on opecs behalf earlier this year
brunswick corp expects 1987 first quarter sales to be up dramatically and profits to do well chairman and president jack reichert said after a securities analysts meeting
cpc said it expects no material gain or loss this year from the transaction
sankei building co ltd is issuing a 60 mln dlr equity warrant eurobond due may 7 1992 paying an indicated coupon of 2 1 8 pct and priced at par lead manager nomura international ltd said
however the rating agency said upgrades will probably stay at about the same level as in the past few years
several opec members who are price hawks including iran algeria and libya will seek a higher official price and a reduction in output
tanzania has arranged to sell 53000 tonnes of maize to malawi mozambique and zaire radio tanzania said
fernandez said the government had targeted gnp growth of between six and 65 pct this year
atcor inc said it cut its quarterly dividend to three cts per share from 12 cts because of depressed earnings
world bank official says bolivia should seek growth
on a comparable store basis it said sales declined 49 pct
qtly div three cts vs three cts prior pay april six record march 20
the federal government drew down 38 billion marks of its bundesbank cash deposits which had stood at 41 billion in the third week of february and also borrowed a 18 billion in credit from the central bank
bentsen urged mulroney to withdraw a proposal that would ban imports of independently produced films into canada by non canadians which the senator called a protectionist measure
general partners said it is asking gencorp for its shareholder lists for help in disseminating the offer
funds traded between five and 6 3 4 pct
taiwanese investment in the us is expected to nearly double to 80 mln us dlrs in calendar 1987 and rise to 400 mln dlrs a year by 1991 a five year forecast by the economic ministry showed
us farmers who in the past have grown oats for their own use but failed to certify to the government that they had done so probably will be allowed to continue planting that crop and be eligible for corn program benefits an aide to agriculture secretary richard lyng said
potomac electric power co pom january net
iis intelligent information systems ltd said it has received received and completed delivery on an order worth over 700000 dlrs to supply textron incs bell helicopter textron inc unit with leased international business machines corp ibm 3270 and 3191 plug compatible work stations and printers
hk dealers say nakasone g 6 comment too late
shearson said it offered the novel cds yesterday to mostly institutional investors
he said south africa already had repaid five pct of the debt under the standstill agreement expiring on june 30 1987
nevi baltic with a 1986 turnover of 20 mln stg and total assets of 70 mln stg is controlled by norwegian finance company nevi as which will retain a 301 pct stake in the british unit skandia said in a statement
shultz statement two weeks ago that he would not stand in the way of a wheat subsidy offer under the export enhancement program eep coupled with the announcement of his visit to moscow was interpreted by many grain trade representatives here as a clear signal that the reagan administration was preparing an offer
gaspe mines is the name of the noranda division that operates the murdochville mine
allied signal inc said it agreed to sell its linotype group unit to commerzbank ag of west germany for an undisclosed amount
anybody looking for a dividend increase has been dissapointed by the announcement luftig said
perception technology corp said it expects to take a charge of about 686000 dlrs or 19 cts per share against earnings for the second quarter ended march 31 due to the bankruptcy proceeding of customer tc of new york inc
foote said newmont has informally indicated it would vote in favor of the rio tinto proposal
harper said it will consider the proposal including such possible concerns as anti trust and other legal considerations
frontier insurance group inc said it acquired the malpractice book of business generated by medical quadrangle inc and medical professional liability agency ltd a producer of medical malpractice coverage
allwaste inc said it has agreed in principle to acquire an air moving and related industrial services company it did not identify for up to 1400000 dlrs in common stock
the new york brokerage firm of spear leeds and kellogg told the securities and exchange commission it had increased its preferred stock in allegheny international inc to 86 pct from 7 pct
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
usda also said the current program imposes a heavy cost on us consumers and industrial users
us jobs data said to rule out fed tightening
1985s discontinued operations are restated
american greetings corp agreao 1st qtr net
alitalia reports higher net profits
in addition to a two pct cut in the intervention price west german producers face a further price reduction in july with a probable revaluation of the green mark
the transaction is valued at approximately 378 mln dlrs and is expected to be completed by march 31 1987
iraq is the main supplier with 235000 bpd
some shorter maturities did better
bundesbank board member claus koehler called on central banks of major industrialised nations to cooperate closely on exchange and interest rate policies
new production later this year from a bingham utah mine owned by kennecott corp a unit of british petroleum co plcs bp standard oil co a mine in new guinea and phelps dodges own expanded morenci ariz mine will be offset by production shortfalls in mexico and zambia he said
north american acquisition said the agreement is subject to due diligence and a satisfactory review of pioneers operation
the european community commission has charged the united states with breaking international trade rules by excluding dutch made fibres from the us market and said it would take the issue to the world trade body gatt
towle tow says common may be cancelled
first state has assets of about 110 mln dlrs
asked what form he thought us retaliatory action might take in the event of the ec tax proposal being approved fluegel said industrial as well as agricultural products could be involved
economists in hong kong told that chinas controls on scarce foreign currency hurt its imports of taiwanese consumer goods such as electric fans and television sets
scientific micro said it acquired all the common stock of supermac in exchange for 105 mln shares of its own common stock
the may deficit compares with a surplus of 1555 billion lire in the corresponding month of 1986
but salvage expert william cooper said passengers would have had problems getting off this type of ship because of its design
the bank of japan intervened just after the tokyo market opened to support the dollar from falling below 14000 yen dealers said
the sources said the loan agreed upon in principle last september during a visit to the united states by president corazon aquino had been held up by philippine government delays in fulfilling key conditions
at that price the 14 mln reebok shares pentland will sell are worth about 64 mln dlrs and the three mln shares reebok will sell are worth about 1365 mln dlrs
todays agreement was reached between south africas chief debt negotiator chris stals who chairs its standstill coordinating commmittee and representatives of the 12 banks on the commercial bank technical committee
paper asks conable to prod indonesia into changes
i hope it was a temporary blip upward he told a house appropriations subcommittee
the latest rescheduling is for the shipping to hotels conglomerate redec
one provision repeals the reserve method of providing for bad debts for banks with over 500 mln dlrs in assets and requires that tax loan loss reserves taken in the past be restored to current earnings status it said
staubli said the 1986 result well below predictions made this time last year suffered considerably due to exchange rate fluctuations in particular the strength of the swiss franc
the economy will grow by an average rate of 22 pct a year in real terms between now and the end of 1991 westdeutsche landesbank girozentrale westlb said in an annual report
a british government delegation has just left riyadh after holding preliminary talks on ways of offsetting the huge saudi outlay on a defence contract to supply 132 fighter aircraft worth five billion stg
for every 100 dlrs invested in the program an investor will be entitled to buy one warrant to purchase one geodyne common share at a price equal to 120 pct of the average closing price of the stock for the 15 trading days prior to formation of the partnership to which the investor subscribes
proxmire said he intended to introduce his bill later this month and predicted the senate committee would act this spring
shr three cts vs 18 cts net 220000 vs 1250000 revs 118 mln vs 9430000 year shr 45 cts vs 69 cts net 3400000 vs 4037274 revs 451 mln vs 343 mln
but other banking sources said that regional banks many of which are refusing to continue lending to latin america are dissatisfied with decisions of major banks such as citibank in the refinancing of foreign debts
during the field trip long truck lines were noted at grain elevators where preference is given to soybeans over corn the report said
loans to basic industries were not major contributors to the increase in non performing assets or to first quarter charge offs but mellon said it remains concerned about the absence of a strong recovery in steel and related industries
the united states believes japan will only react when bullied and this is a bullying ploy salomon brothers asia analyst carole ryavec said
a special two dlr bonus to corn producers who enroll part of their corn base acreage into the program has sparked more interest in this latest signup usda officials said
the reserve bank said at 1230 local time it was offering to buy short dated government securities in the short term money market
nazer said saudi arabia would continue to produce below its 4133 mln bpd quota if necessary to defend the 18 dlr price
usda conduct a study of the findings of a national commission on agricultural export policy which recommended a reorganization of usdas trade policy apparatus
jamaica agrees draft bank debt rescheduling
what this writedown says is that a lot of the money that was spent in the past is unrecoverable but the shareholders have already recognized that through the writedown in the stock price gobert said adding the financial statements have come out and said that what has happened in the past has been a disaster for dome gobert added
yankee cos inc said it has acquired 3916000 dlrs of 7 1 2 pct convertible subordinated debentures due may 15 1998 of its yfc international finance nv affiliate for 501807 common shares from an institutional investor
the company operates on a substituted tax year not the fiscal year ending june 30 and as a result has incurred tax at the 49 pct rate on 1986 earnings cra said in a statement
one adr represents 075 pct of one b free share in pharmacia
based on tmocs issued capital of 6208 mln shares the agl offer values the entire company at 2499 mln shares
black miners support s
the banks gave no reason for ending the talks which began on january 14
she said about 2000 barrels of crude were spilled and could not indicate when pumping would resume
the rating agency cited hechingers consistently increasing profitability and relatively stable financial structure
qtly div three cts vs three cts prior pay may 4 record april 3
if it does then this gives them more room to ease he said
shr profit 147 dlrs vs loss 26 cts net profit 146 mln vs loss 26 mln revs 225 billion vs 182 billion nine mths shr profit 182 dlrs vs profit 227 dlrs net profit 180 mln vs profit 224 mln revs 594 billion vs 555 billion
weyerhauser has about 16 billion dlrs of debt securities outstanding
the bonds started trading this morning at 20 stg pct
the offer is worth about 74 billion dlrs
1985 quarter net includes 1480000 dlr tax credit
that saved more than two billion dlrs penner said
shell eastern pte ltd will revise pump prices of petrol from 2300 hours local while caltex asia ltd and bp singapore pte ltd will revise theirs at midnight tonight company officials said
immediately before the march quake ecuadorean production was 250000 260000 bpd with 144000 bpd exported
telex tc adopts shareholder rights plan
interlink says not planning bid for purolator
some bankers had feared that banks would refuse to lend new money so soon after taking a hit on the old loans but todays news delivers a decisive rebuff to those skeptics
cronus industries inc crns 4th qtr loss
i would not be surprised if the bundesbank cuts the amount a little to say 14 or 15 billion marks one dealer said
i dont remember a time when there was such a clear distinction by geographic area fdic chairman william seidman told reporters
he said ec policies are the major cause of the depressed world sugar market
shr loss 25 cts vs profit three cts net loss 713000 vs profit 69000 revs 24 mln vs 921000 six months shr loss 24 cts vs profit six cts net loss 572000 vs profit 120000 revs 57 mln vs 16 mln noteto effect change from fiscal to calendar year company reported results for six months period ended december 31 1985
moodys investors service inc rates the securities aa 3 and standard and poors corp rates them aa
philadelphia suburban corp said it acquired mentor systems inc a lexington ky computer software company for common stock
agricultural exports fell by 26 billion dlrs or nine pct to 269 billion during the year
a proposed buyout of taft broadcasting co by dudley taft and other investors includes a plan to sell the companys entertainment group according to one of the investors
supermarkets general corp said it received an unsolicited proposal from a third party to acquire the company at 4175 dlrs per share in cash
volcker calls dollar slide enough
sandoz ag sanzz year 1986
australian annual broad money growth rose 103 pct in february unchanged from january but down from the corresponding february growth rate of 139 pct the reserve bank said
far east customers primarily japan which buys an average 180000 barrels per day of which 150000 is isthmus pay retroactively while european and us clients are charged per delivery
a us embassy official said the us did not accept pekings trade figures at all mainly because they exclude goods shipped to hong kong and then trans shipped to us while us figures are based on country of origin
coffee prices bad news for latin america minister
the filing was made in the names of texaco inc texaco capital inc and texaco capital nv moodys noted
in addition to short covering heating oil found support from traders buying it against sales of gasoline and crude as well as from expectations for continued drawdowns in stocks as refiners shut down for maintenance traders said
weinberger said us warship movements in the gulf area were not unusual
usx also said it expects to record a gain of 150 mln dlrs in 1988 representing 50 pct of previously existing investment tax credits allowable under the new tax law
wang laboratories said it signed an agreement with desk top financial solutions inc giving wang the right to market the desk top financial planning system for wangs office information systems ois product line
year to december 31 1986
investor martin t
shr net basis 248p vs 245p shr nil basis 227p vs 209p div 5p making 76p vs 65p pretax profit 5778 mln stg vs 5061 mln net after tax 3747 mln vs 3649 mln outside shareholders interests 175 mln vs 132 mln extraordinary debit 370000 vs 193 mln turnover 53359 mln vs 55581 mln profit breakdown by activity electrical equipment 2859 mln stg vs 2760 mln engineering 1075 mln vs 1113 mln industrial services 1878 mln vs 16 mln corporate finance 340000 vs 412 mln making total pre tax profit 5778 mln vs 5061 mln
a 20 pct rating would be assigned to issues of domestic banks
us agriculture secretary warns ec on soy oil tax
becor western inc said its reconvened shareholders meeting has been adjourned to 1000 cdt june 30
ust inc ust 3rd qtr net
ja parini rospatch chief executive responded on january eight by saying the investment was a vote in confidence in the company
oper primary shr 103 dlr vs 255 dlrs oper diluted shr 94 cts vs 176 dlrs oper net 152 mln vs 234 mln revs 2720 mln vs 232 mln avg shrs primary 7625000 vs 5534000 avg shrs diluted 123 mln vs 103 mln year oper shr 106 dlr vs 317 dlrs oper net 39 mln vs 561 mln revs 8302 mln vs 6579 mln avg shrs 7490000 vs 5557000 note 1986 oper net excludes 104 mln dlrs for discontinued operations
total job losses by 1989 were now expected to total up to 7800 against original projections of 5900
the bundesbank plays a passive role in setting the calendar without trying to regulate the issues but it needs the registration to gauge the volume of mark bonds going through the euromarket he said
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
we think that in the third or fourth quarter after the merger we should see something close to breakeven he said
the companies said the united states bankruptcy court for the southern district of new york has given preliminary approval for the proposal which is subject to formal approval by computers creditors and the court
the company said it plans to invest approximately 10 mln dlrs into the ski area in the next few years
no one has ever stated or supported a policy of protecting all shipping in those waters pentagon spokesman bob sims said as the reagan administration drew up plans to increase the protective us military presence in the gulf
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
international lease finance ilfc 1st qtr net
perception technology pcep to take charge
west german exports to the united states fell below four billion marks worth in january for the first time since mid 1984 provisional bundesbank data showed
sheehy said he could see the tobacco portion of the company declining further as other sectors increased in importance
morgan also reported a loss of 18 mln dlrs from securities underwriting and trading in contrast to a gain of 454 mln dlrs in the year earlier period
a survey of planting intentions showed that while so far european community ec growers plan unchanged to lower areas increases are expected in some eastern european nations
the company said it can release no other details at this time
italy today announced that its official discount rate would be cut to 115 pct from 12 pct effective tomorrow
he said if canada proposes an agreement where both countries get rid of six methods of trade restriction it would not be fair and might not win senate approval
the spokesman declined to comment on us newspaper reports that the purchase price totalled 173 mln dlrs
asked if central banks might act to prevent a sharp dollar rise as the us did in march when the dollar rose above 187 marks he said this would depend on the circumstances
indias national foodgrain target has been fixed at 160 mln tonnes in 1987 88 apr mar unchanged from the 1986 87 target the agriculture ministry said in its annual report for 1986 87
malaysia to cut oil output further traders say
the ministry has also suggested that foreign shareholders not hold managerial positions in the new firm
richard braddock head of the whole individual banking division added that when there is increased competition it is not the big people who get crunched but the small ones
s p upgrades iowa illinois gas iwg preferred
of all polled companies 23 pct rated their export order books to be above normal and 53 pct described them as normal while only 23 pct believed export orders were below normal levels
lex service buys sears motor group
merchants national corp with 37 billion dlrs in assets said it will report a loss of 13 mln dlrs for the second quarter due to its decision to increase its provision for losses by 30 mln dlrs mainly due to uncertainties surrounding latin american debt
we need a surplus because we have to reduce our debt but we are taking measures to hold the size of the surplus at a proper level kim said
the companys 1986 us turnover of about 750 mln dlrs made a listing on one of the new york exchanges a logical next step van driel said without elaborating
we are confident that 1987 will top 1986 in earnings per share and are optimistic about our longer term future as well the company said in its 1986 annual report
taft broadcasting co vice chairman dudley taft and narragansett capital inc narr said they intend to pursue their effort to acquire taft broadcasting despite the rejection yesterday of their 145 dlr per share offer by the taft broadcasting board
at the same time it said inflation as measured by the gnp price deflator rose by 07 pct during the period
for the year ended january 31 1986 the company had a net loss of 51000 dlrs or 24 cts a share on revenues of 28 mln dlrs
venezuelan aluminum firm to credits
imatron imat sells stake to mitsui mitsy 
machinea leaves for new york tomorrow with treasury secretary mario brodersohn to complete argentinas team at negotiations with the steering committee for a 215 biilion dlr loan to see the country through 1987
one foreign banker speculated that bolivia might be able to buy back up to 30 pct of its commercial debt paper under the deal mostly from small banks who have written off their loans to the country
yield estimates remained at 32 to 35 mln tonnes 167 to 22 pct down on 1985 86 production of 41 to 42 mln tonnes
the cbts action was made possible by a ruling last week by the securities and exchange commission sec which removed a key regulartory obstacle to trading futures on foreign debt securities on us exchanges
the trade bill forces the administration to act rapidly on complaints of unfair trade practices such as dumping products in the united states at prices below cost of production
shr 52 cts vs 25 cts net 5154000 vs 2496000 revs 177 mln vs 144 mln nine months shr 116 dlrs vs 70 cts net 115 mln seven mln revs 503 mln vs 412 mln note 1987 periods include pretax investment income of 29 mln dlrs in capital gains distributions from mutual fund investment
eurodollar bonds closed as much as a full point lower as the dollar fell to a post war low against the yen and interest rates on us treasuries rose almost to eight pct
prices are inching up and lead times on deliveries are stretching kurlack added
currency markets were keen for official statements to clarify the scope of the paris accord and reactivate currency trading
the yen sector edged slightly firmer and one new straight deal was launched a 20 billion yen bond for frances caisse nationale des telecommunications
net income 1547 mln pesos vs 1275 mln operating revenues 442 billion vs 33 billion operating profit 6212 mln vs 2034 mln earnings per share 480 vs 395 note company statement said gold operations contributed 74 pct of consolidated earnings
transducer systems inc year
york international yrk to make acquisitions
qtly div 28 3 4 cts vs 28 3 4 cts prior pay april three record march 13
amoskeag co said its board voted to seek shareholder approval at its april 27 annual meeting of a recapitalization plan calling for the distribution of one class b common share for each common share now held
higher limits for cbt wheat than for kcbt wheat would significantly impair the kcbts ability to compete with the cbt for speculative interest michael braude president of the kansas exchange said in a letter to cftc
if we are to take effective remedial action when there are significant deviations from an intended course then we must have more definitive ways of indentifying the right course for key variables he said
he said the 900000 bpd shortfall last february was based on the verified figure for 10 out of opecs 13 members adding that nigeria alone had a shortfall in production of 100000 bpd
first bostons analyst was not available for comment
previously the department said the third quarter deficit was 3628 billion dlrs
one company has bought 800000 barrels of iranian heavy at a straight discount of 30 35 cents below the official price the sources said
payment date is april 15
grain stocks for three years
this would make trading more transparent if it reduced the proportion of off floor interbank bond trading now some 90 pct of the volume of bond transactions here the bankers say
murray said that as a result of lower debt and more efficient operations the company is now is a position to seize opportunities that may become available and use this strength in whatever way best builds shareholder value
the water is rushing by so fast that we cant get any divers down to assess the damage but there is some possibility that the pipeline could be up by the end of the week a company source said
it is purely coincidence he said
the bank said that excluding valuation effects it estimated reserves fell 853 mln dlrs after falling 234 billion in january and rising 323 mln a year earlier
gencorp said in its statement earlier that the date its rights will trade separately from the common stock was extended to april six from april three
uk money data may ease rate cut analysts say
it gave no more details
however the institute said inflation would fall back to 25 pct at the end of 1988 provided that real wage costs remain within the framework of productivity rises
northeast savings nsb adopts rights plan
american can sees higher 1st qtr yr net
the dollar opened lower against virtually all currencies and traded in a narrow range after the communique which reaffirmed support for the paris accord on currency stabilisation but contained no moves to strengthen it
the soviet economy has grown at an increased rate under mikhail gorbachevs leadership but his goals may be too ambitious according to a report from us intelligence agencies
the pakistani government allowed the private sector to export cotton and rice in a new trade policy announced to cover the next three years
brooks also said the company would continue to attempt an exchange of technology and manufacturing agreement with fujitsu ltd if successful in its buyout bid
philippine debt talks finely poised bankers say
the cotton worth one billion shillings cannot be moved to ginneries in the region because most mill warehouses are full
in this era of financial liberalisation its almost impossible to control the flow of capital in and out of japan said another senior bank official
there have to be structural changes that occur to make the market stop selling dollars added buying six billion dollars in three weeks is not going to do it late last decade during the presidency of jimmy carter when the dollar was last under heavy speculative attack central banks sometimes intervened to the tune of six billion dlrs in a single day but still failed to stop the dollar falling to a record low of 170 marks analysts said
this would also affect thyssens trading operations he said
first toronto issuing debenture to dutch parent
for better living inc 4th qtr net
the jordan branch of iraqs rafidain bank said it will raise paid up capital to comply with the countrys minimum requirement of five mln dinars by drawing on profits from its operations in the country
without decisive action in washington this nation will once again become a hostage to opecs plans and policies hartley said
dealers said federal funds were trading at 6 5 16 pct when the fed began its temporary and indirect supply of reserves to the banking system
japan bought 5000 tonnes canadian rapeseed overnight at an undisclosed price for may shipment trade sources said
while few foreigners are interested in the secondary market japanese commercial banks regional banks life insurers and other financial institutions are eager to buy the bonds and await their flow back to japan since they offer little currency risk traders said
two major uk clearing banks announced they will offer a total of 800 mln stg in new mortgages at a fixed interest rate of 102 pct for the first three years below current bank base lending rates of 105 pct
weizsaecker is expected to announce the figure in a major speech later today at the bolivian congress the officials said
todays announcement follows saturdays removal of import curbs on 170 products
us warships destroyed an iranian oil platform in the gulf on monday and the navy also raided a second oil rig in retaliation for fridays iranian missile attack on a us flag tanker the pentagon said
the company said the transaction gives union central a cincinnati based mutual insurance company a total of 8804397 shares of manhattan national stock or 522 pct of the total outstanding
now its nic bashing said robert chandross of lloyds bank plc
we have the beer but distribution and sales is the important point van schaik said adding that since the ruling heineken had been inundated by german traders seeking joint ventures
this allows the exchange and its members to concentrate our marketing on the pig and live cattle contracts lmfe official peter freeman said
the conference which began monday is widely seen as the final effort to adopt a new international natural rubber agreement inra before the current one expires in october
in an attempt to compete in the 1970s woolworth opened a discount general store chain woolco and j
ec grants 5000 tonnes soft wheat export licences at 13475 ecu rebate brussels trade
french unemployment rose to a record seasonally adjusted 265 mln in february from 261 mln in january and 257 mln at the end of last year the labour ministry said
atcor said it does not expect performance improvements in the first quarter to be sustained throughout the year due to increasing raw material costs
in conjunction with the stock split proposal the shareowners will be asked to approve an increase in the authorized common stock from 60 mln to 150 mln shares the company said
chrysler to take over renault stake in american motors says renault
he said non opec member norway which he visited two weeks ago had pledged further cooperation with the group and this was significant for its members
backwardations will remain while operators continue to grant options where potential tonnage to be delivered exceeds aluminium stock levels an lme option trader said
seaxe is involved in oil and natural gas exploration and development in the paris basin of france
westlb international set aside 1153 mln marks for international credit risks in 1986 up from 974 mln marks in 1985 bringing the total amount of provisions shown in the balance sheet to 5803 mln marks
the consumer price index rose 83 pct last year
the september growth of 111 pct year on year announced earlier today should not be taken as implying that the money supply has started to expand very rapidly he said
hartmarx hmx targets earnings growth
directors of the chicago board of trade cbt decided at their regular board meeting late yesterday to submit a long term japanese government bond futures conrtact to the commodity futures trading commission cftc for approval
five regional oil producing nations will gather in caracas tommorrow for a two day meeting expected to center on ways to combat proposals for a us tax on imported petroleum the venezuelas ministry of energy and mines said
starrex links share price to assay speculation
the march index base 1982 was 1097 against 1095 in february
china a major aluminium importer will open the first phase of its biggest aluminium plant on october 1 the china daily said
brazil wants to increase steel exports to us 
there are about 349 mln norstar shares outstanding
he said he did not yet know why the agency objected
most companies cannot afford it george unzelman president of hyox inc said these proposals will place pressure on small refining operations and promote further industry consolidation an npra survey of of 139 refineries which was released at the conference said reducing sulphur content to 005 pct weight and aromatics to 20 volume pct aromatics in highway diesel fuel would cost refiners 665 billion dlrs
more than half of texas commerces nonperforming loans which totaled 968 mln dlrs at yearend 1986 up from 840 mln dlrs the year before were in real estate
baird corp batm said the massachusetts state court for suffolk county has lifted a temporary restraining order prohibiting mark iv industries inc from further purchases of baird stock
but he said that in meetings with both president suharto and leading indonesian ministers he had not called for specific policy changes
belgian state loan raises 1688 billion francs
newman hawker discuss electric motor merger
taiwan is currently the third biggest exporter to the us after japan and canada while korea is the seventh largest
turnover 9526 mln vs 9701 mln
services producing industries expanded 10 pct
texaco also has eurobonds outstanding which are convertible into texaco inc common stock known as convertibles
bank of new york bk raises prime to 7 3 4 pct
arden group inc said it filed a registration statement with the securities and exchange commission covering two issuer tender offers
chicago heater will be intergrated with cranes cochrane environment systems division the company said
fortune financial group inc said its fortune savings bank acquired a financial security savings and loan association branch in sunrise fla
the three a warrants will give the right to subscribe to five bull shares at a price of 46 francs until november 30 1988 and the three b warrants the right to subscribe to five shares at a price of 52 francs until november 30 1989
shr loss 144 dlrs vs profit 179 dlrs net loss 1975 mln dlrs vs profit 2414 mln revs 7973 mln vs 9067 mln 12 mths shr loss 342 dlrs vs profit 45 cts net loss 4628 mln vs profit 518 mln revs 304 billion vs 348 billion note net includes special charges of 65 mln dlrs vs special gain of 341 mln dlrs for the qtr and year
denning mobile robotics inc gard 4th qtr loss
taiwan issues more cds to curb money supply growth
it said it will receive about 40 mln dlrs more later mostly this month when closings are expected in three more countries
a foreign trader here said china accumulated large stocks in 1982 85 when provincial authorities were allowed to import sugar on their own authority
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
floor traders at the midamerica commodity exchange which merged with the cbt about a year ago said they were preparing to vacate their floor at the end of this month
new england critical care inc said it completed its purchase of npo therapies inc of salt lake city
united banks of colorado inc said it has received federal reserve board approval to acquire intrawest financial corp intw in an exhcnmage of 07234 united share for each intrawest share
there was not a lot of interest to sell the market because of belief in opec said richard redoglia a broker with merrill lynch futures inc
zayre corp said it plans to open 25 additional zayre stores 35 new tj maxx stores and 50 hit or miss shops in 1987
kansas gas and electric co kge february net
the woodbridge nj supermarket operator of over 180 supermarkets and other specialty retail stores convenience food stores and drug stores
reading rdgc to sell philadelphia properties
the release date is tentative in case there are snags in the catalogues preparation the spokesman said
he voiced support for measures already taken including septembers 31 pct devaluation of the rupiah and efforts to deregulate imports and stimulate exports
entre computer centers inc said it is discontinuing its european and australian operations
it also bought 103 mln stg bank bills outright comprising 65 mln stg in band one at 9 7 8 pct and 38 mln stg in band two at 9 13 16 pct
to cope with the negative impact of the strong yen japanese enterprises must strive to cut costs by all means including holding down wages as much as possible otsuki said
proceeds of the sale will be used in the continuing expansion of the gallaher group
commerzbank to found new york investment bank
ford f europe earnings up 71 pct last year
treasurys mulford sees major new lending for brazil other debtors in 1987
theyve burnt the fingers of many people he said
it said its dealings in italy fund stock are for investment purposes only and that it has no current plans to increase or decrease its current stake
press representatives were not invited
dutch soymeal imports fall in january
the trade ministry said rice imports quadrupled in local currency value during the first nine months of last year as the government established a buffer stock of the countrys staple food
opecs credibility faces fresh scrutiny in coming weeks amid signs of a significant rise in supplies of oil to international oil markets the kuwait daily al qabas said
monfort of colorado inc mnft 2nd qtr net
net profit befire minorities 810 mln vs 744 mln
inevitably this greatly diminishes the scope i have this year for reducing the burden of taxation which of course remains a major objective of government policy but i am sure it is right to err on the side of prudence and caution and to build a still firmer base for the future lawson said the time had come to strike the exchange control act from the statute book
the waiver is part of domestic us agricultural policy part of our law when we joined the gatt we have agreed to put the waiver on the table during the uruguay round and invite other countries to do the same with their programs
sellers quoted 64 pct fishmeal at between 640 and 650 marks per tonne free on truck for spot and between 630 and 640 marks for april dec
the newspaper said a cattle emergency had been decreed and the cattle are being rounded up
gardner said he believes a better offer might be found if the company would agree to be sold to some other entity or if it could sell off all or part of its us courier division
the energy department said it reached proposed oil pricing settlements totaling 680150 dlrs with the operator and four working interest owners of ad leblanc no
the countrys total foreign debt is 816 billion dlrs the eighth largest in latin america
he noted however the increasing focus on cost sharing could limit technological innovation
polish banker pleased with world bank imf talks
ferruzzi paris unit seen absorbing cpc purchase
it said buyers of 1986 and 1987 jeep cherokee wagoneer and comanche vehicles have a choice of the financing program or a rebate
consul cnsl sees improved liquidity
pay date is april 6
the company said results declined in the quarter both in its traditional oem business and its business systems group
it said the workers represented by united steelworkers of america would receive a 121 dlr an hour pay raise over the life of the new contract and improved benefits
the company is trying to boost imports but has not set a specific target
johnson mattheys platinum group prices
the european community may decide to increase the cereals co responsibility levy and extend its scope to cover cereal substitutes if the commissions 1987 88 farm price package is opposed by member states edgar pye vice president of the british agricultural merchants association ukasta said
coming on the heels of a 43 billion decrease in m 1 for the week ended june 1 this means the nations money supply has fallen more than 12 billion dlrs in the past two weeks economists said
jordan boosts bids in export bonus wheat tender
these institutions will in turn act as custodians of government securities for their customers rendering each an individual accounting of his holdings hu said the new system will cut storage and handling costs and paper work reduce the danger of loss theft destruction and counterfeiting and permit greater speed and efficiency in handling large volumes of transactions
perus attitude contrasts with that of mexico which followed a more conciliatory route and last week signed a 77 billion dlr loan package with its creditor banks
unless the english bill pertains only to 1987 winter wheat it is more than a simple disaster payment and feedgrains should be treated equally they said
the arbitration proceeding was called after emerson electric charged am general violated an agreement covering the development of certain components in the contract
volcker says trade deficit is major challenge
international game technology said it filed with the securities and exchange commission a registration statement covering a 35 mln dlr issue of senior notes due 1995 and a 25 mln dlr issue of convertible senior subordinated debentures due 2002
after satisfaction of the payments the company will make a second distribution around april 29 it said
the bank of england said it had offered borrowing facilities to those discount houses wishing to use them at 1430 gmt
its extremely strong he said
the agreement signed on tuesday with britains export credits guarantee department was the first in nigerias tour of creditor nations
sows will not constitute good delivery against the standard contract until september 1 and 995 pct purity sows are not good delivery and cannot be placed on lme warrant
kidder peabodys kirnan said cost reductions and product improvements this year should lead to positive cash flow by the fourth quarter which will help gm finance the buyback
terms were not disclosed
earnings per ordinary share were up 47 pct to 194p
they said a large uk trade house sold 50000 tonnes a us house traded 25000 tonnes and a swiss based dealer house 25000 tonnes
it explained this interpretation was based on fercs april 10 1985 statement of policy which said that only take or pay buyout costs must be recovered through a general rate filing under the natural gas act
even if 10 banks were buying five to 15 mln dlrs you would still be talking of a small overall amount said one dealer
shr five cts vs nine cts net 560000 vs 1247000 revs 7597000 vs 4619000 year shr ten cts vs 17 cts net 1225000 vs 2161000 revs 265 mln vs 233 mln
analysts said the packaging and labelling division could be sold for up to 150 mln stg
progressive is currently the subject of both a proposed merger with rainbow and a full takeover bid from brierley investments ltd bil the bil bid launched on monday is at 420 dlrs a share
allied supermarkets inc said it filed a registration statement with the securities and exchange commission for a proposed merger with the vons companies a supermarket combination store operator
i am afraid this time we have to give more than take from our talks with the us he said without elaborating
taiwans industrial production index fell largely as the result of the rising taiwan dollar by 818 pct to 14006 base 1981 in february from a revised 15253 in january the economy ministry said
japans finance ministry auctioned 1000 billion yen worth of tankoku six month debt financing paper to roll over previously issued tankoku maturing on march 19 a spokesman said
the biggest problems are concentrated in the centre west growing regions where rising production has outpaced storage capacity
hawkeye entertainment sbiz completes offering
nippon which has no plans to restore output to the 48000 tonnes a year at which it was working until late 1986 will become japans only smelter
anglo american aivjj year to dec 31
upland minerals and chemicals corp said it agreed to acquire consolidated brazilian mines international inc a public company with one mln acres of diamond and gold properties in brazil
public relations consultancy shandwick plc said it had agreed to buy the los angeles based rogers and cowan inc which specialises in the entertainment industry
other income 7239 mln from sale of investments 10304 mln 1985 interest 2575 mln 2149 mln and dividends 164 mln nil co is 937 pct owned by bell resources ltd note all figures in us dollars as the company is registered in bermuda
the outlook for bonds also is less favorable later in the year since both inflation and interest rates may be edging up
phillips petroleum co said it raised its crude oil posted prices for west texas intermediate and west texas sour by 50 cts a barrel effective june 17
proposed offerings recently filed with the sec
bids totalling 379 mln dlrs were received for the 80 mln dlrs of bills on offer
shr loss five cts vs profit 72 cts net loss 79069 vs profit 829737 revs 144 mln vs 141 mln note1985 includes extraordainy credit of 11 cts
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
however he forecast that the last quarters results overall should not be adversely affected by the walkout
the cost of living in west germany will likely be about 05 pct higher on average in 1987 than in 1986 when the cost of living actually fell by an average 02 pct in the first recurrence of negative inflation since the 1950s the hwwa economic research institute said
spain to sell barley to saudi arabia
continental said the terms of the deal were not disclosed
reading said it will be responsible for the demolition and cleanup of certain of the properties for which a portion of the cash proceeds will be escrowed
cross and trecker ctco to sell unit
the tokyo yen bond market is likely to stabilise in one or two weeks which is what investors have been waiting for
goodyear tire gt details 1986 tax refund
treasury secretary james baker said the agreement among the industrial countries reached in paris last month should foster stability of exchange rates at around current levels
semi finished goods showed a clear increase in all sectors
permian buys transports and resells crude oil
but the department said the australian bureau of agricultural economics bae predicts wheat production will drop sharply from 178 mln tonnes in 1986 87 to 135 mln in 1989 90
similarly if buffer stock purchases or sales amounting to 300000 tonnes have been made since the last revision the reference price will be lowered or raised by three pct unless the council decides on a higher percentage
humana inc 2nd qtr shr 44 cts vs 54 cts
it also should increase the companys arbitrage opportunities he added
as an indication of his success white house spokesman marlin fitzwater told reporters friday the administration still did not like some provisions
foreign investors have been here nibbling a long time but were seeing new names and smaller companies coming in said arthur smith an oil property appraisal specialist and president of john s
general hydrocarbons distribution delayed
qtly div 15 cts vs 12 1 2 cts prior pay april 15 record march 31
parliament also granted an 800 mln crown cash infusion to ease cash flow problems that arose when the bank lost 600 mln crowns in a shipping firm bankruptcy two years ago
reichhold chemicals inc said it is part of a group that has purchased pcr inc from hanson trust plcs scm corp subsidiary
many farmers like to feed lighter weight cattle and grain supplies are large he noted
dupont dd up on recommendations
he also said that as a consequence of the dollars decline and oil price rises inflation would rise moderately to a 35 to four pct rate in 1987
vag which finances the purchase of new and used cars for vw customers said 1986 profits met expectations but gave no details
they said crushers bought some 270000 to 280000 tonnes of us beans for april shipment
swett said the government would also seek to refinance the 1429 billion dlr section of the debt owed to the paris club group of foreign governments though it would continue to service the debt with them
akzo planning us investments
china gets 974 mln dlr world bank loan
honeywell bull inc owned by honeywell inc hon cie des machines bull and nec corp said it expects its 1987 revenues to increase 15 to 20 pct over its current level of about 19 billion dlrs
barclays de zoete wedd sets up amsterdam office
nippon life insurance co is pursing a possible link with an american securities house to expand its overseas investment portfolio a company spokesman said
arvin industries inc said it is raising 150 mln dlrs through an offering of 8 3 8 pct 10 year notes and 9 1 8 pct 30 year sinking fund debentures
in addition beesley urged congress to immediately take steps to reassure borrowers from the system that their stock is secure
the transcanada proposal could open the bidding for dome since other potential buyers were probably waiting for lenders to agree to a restructuring he added
any japanese action would probably be taken under article 23 of the general agreement on tariffs and trade gatt they said
egypt tenders thursday for optional origin corn
this compared with premiums of between 60 and 80 pct on similar share flotations in britain
cominco had pressed for a three year contract and some loosening of the rules on job classifications
he said we are going to struggle with courage for brazil and its growth
freight transported westward over the atlantic rose seven pct to 94300 tonnes while eastbound volume rose 31 pct to 74600 tonnes
but he said there was still a danger that the correction of the dollars value could overshoot
some 40 producing and consuming countries are taking part in the two week meeting
fekete said hungary was hoping for a hard currency trade surplus of between 200 and 300 mln dlrs this year but that a more likely outcome would be closer to equilibrium on total hard currency trade of around 10 billion dlrs
lyng told in an interview that the two countries have been discussing a package but that he did not expect the specifics of the offer to be announced during indian prime minister rajiv gandhis visit here this week
the reductions will be added on to a package of tax cuts already planned for 1988 amounting to some nine billion marks
i dont think planted acreage is important
the net tax relief from the tax reform will amount to 25 billion marks
pressure will now build up on producers returning from the ico talks to sell coffee which had been held back in the hope the negotiations would establish quotas which would put a floor under prices some senior traders said
in the 1986 first quarter williams reported net of 142 mln dlrs or 41 cts a share on sales of 7964 mln dlrs
rimmer de vries chief international economist at morgan guaranty trust co said he was very concerned that world economic growth of three to 3 1 2 pct cannot be sustained and that west germany and japan wowuld not take up the slack in the world economy that will arise as the us narrows its trade deficit
this trend had been reversed recently and with domestic credit demand likely to remain at steady levels money stock growth was expected to narrow in the medium term
consul officials told an analysts meeting that in return for each 1000 dlr face value of the bonds tendered investors will receive 10 shares of preferred stock convertible after dec 1 1987 into 500 shares of common
with clear skies and seasonable temperatures fields were able to dry in areas that had received heavy rains in recent weeks allowing growers to accelerate the pace of maize sunflower and sorghum harvesting
woolworths variety store operations were hard hit in the 1970s and early 1980s by the quickly growing discount store industry
cool heads will prevail dljs launer said but it may take a while
it also will be able to issue on an uncommitted basis euronotes with maturities of up to six months which will be priced under the issuer set margin system
edelman group committed to telex tc bid
speculative demand which influences the gold price on futures markets has also risen the bank said
but since then wall street has been speculating that american brands would find another candidate to help reduce its earnings exposure to tobacco
moodys investors service inc said it downgraded to baa 2 from a 3 the rating on loral corps 7 1 4 pct convertible subordinated debentures of 2010 and on 10 3 4 pct subordinated sinking fund debentures due 1997
arrivals for the week ended february 22 were 155221 bags of 60 kilos making a cumulative total for the season of 593 mln against 581 at the same stage last year
japan is seeking to prevent its computer chips dispute with the us from erupting into a full scale trade war government officials said
shr 14 cts vs four cts net 1474000 vs 286000 revs 155 mln vs 14 mln avg shrs 106 mln vs 75 mln nine mths shr 38 cts vs eight cts net 3387000 vs 588000 revs 334 mln vs 29 mln avg shrs 88 mln vs 75 mln
asked about the impact on the flow of generic certificates onto the market this spring he said the trade was definitely looking higher so certificates are going to be less than expected the usda offered a special corn bonus rental payment to the farmers to be paid in generic certificates
chemical fabrics corp said an agreement in principle under which oc birdair inc would have purchased assets related to the architectural structures business of dow corning corps odc inc division has been terminated
industrial bank of japan ltd senior economist susumu taketomi agreed
the bank said community state banks shareholders approved the merger at a meeting last saturday while monday the directors of 1st source also approved the move
corning glw hazleton hlc set excahnge ratio
cascade importers inc usa s cascade international europa gmbh of west germany said it tentatively acquired worldwide rights for the products of madam gre from the bernard tapie group in paris
wedge group inc a houston investment firm said it raised its stake in tvx broadcast group inc to 682419 shares or 151 pct of the total outstanding common stock from 559219 shares or 124 pct
he gave no figure
trading is expected to start later this year
vulcan corp vul regular dividend
on march 4 the cme board amended the contract to eliminate christmas eve expirations for the january option
calumet industries inc said it expects to report a loss from operations for its second quarter ending march 31 despite a strong unit sales increase
the long term growth in dependency on foreign oil is inevitable lichtblau said
whether us firms are able to stage a comeback in memory chips or interested in doing so also remains unclear they said
first the usda said its announcement should not have said that plywood was excluded from the additional three mln dlrs in gsm 102 credit guarantees for lumber
western diplomatic and official sources in khartoum say 32 pct of sudans total foreign debt is to the soviet union the eastern bloc and arab countries
owens illinois oi acquisition completed
thomas said the february figures seemed to indicate the improvement in sterling m3 growth witnessed over the past few months had been reversed but firm conclusions could only be drawn after revised data are released on march 31
eaton vance corp eavn 1st qtr jan 31 net
shr six cts vs five cts net 199037 vs 135587 sales 1594895 vs 1368959 avg shrs 31 mln vs 25 mln year shr 25 cts vs 19 cts net 695398 vs 446426 sales 5785365 vs 4520781 avg shrs 28 mln vs 24 mln
the economy should also benefit from pump priming expected from the government and a halt in rising prices of manufactured goods it said
continued suspension of interest payments on the medium and long term debt could result in such loans being classified as nonperforming and placed on nonaccrual it said
underwriters are expected to abolish the lump sum issuance system in which all corporate bonds are issued at month end and accept issue requests during the month they said
months before the report was issued us and ec business leaders met their japanese colleagues to discuss the trade problem
closing is subject to setting a definitive agreement it said
the company said it sold 14 mln of its 46 mln shares of dayton hudson stock
echlin inc ech 2nd qtr feb 28 net
the tokyo commodity exchange for industry tocom which also trades rubber futures in japan said it has no plans to introduce an extra session
emerson radio corp said it has sold 33 mln dlrs of 8 3 8 pct senior notes due 1997 to institutional investors
samuel montagu of london would be dealer for the programme while euromobiliare ltd would be involved in placing the certificates with institutional investors the bank said
allis chalmers in 1986 reported a net loss of 86 mln dlrs or 109 dlrs a share
a report on cable news network today said sun chemical has 49 pct of outboard and is conducting a study on whether to go for control of the whole company
rank organisation current trading satisfactory
wang took the company public in 1981 and since then he has bought 15 companies and boosted annual sales from 185 mln to 3093 mln dlrs for the year ended march 31
arbitrageurs said there was disappointment that neither of the offers topped 20 dlrs
rai research corp rac 3rd qtr feb 28
prices of reasonable quality floaters had firmed by an average of 10 basis points in early trading but frn dealers cautioned that the mood was still nervous
dart said it urges a meeting with supermarkets general officials be held promptly
4th qtr shr loss 17 cts vs loss 22 cts net loss 145 mln vs loss 180 mln revs 273 mln vs 237 mln year shr 58 cts vs 101 dlrs net loss 483 mln vs loss 842 mln revs 1117 mln vs 1419 mln note atlas consolidated mining and development corp of manila
neither company provided details on why the talks were terminated
the bank of england is both worried about the political problem of cutting rates during an election campaign and has signalled some worry about broad money growth said robin marshall chief uk economist at chase manhattan securities
the coupon has been set at five pct and conversion price at 74 dlrs per share which represents a 2385 pct premium over genentechs stock closing level of 5975 on the new york stock exchange last night
period ended august 29
japan auctions 1000 billion yen short term paper
south louisiana sweet was increased to 1935 dlrs a barrel
dinner bell foods inc dinbo 1st qtr sept 26
this will raise indonesias investment ratio to about 40 pct from the current 25 pct
iran which is the most powerful country in the gulf will not allow the superpowers or any other foreign forces to interfere in the region he said
royal business group inc roy 2nd qtr march one
emcore said it completed the sale of 41 mln dlrs of stock to citicorp venture capital ltd concord ventures of dillon read and co and private investors
carryover holdings from the previous international cocoa agreement in the stock total 100000 tonnes
in mid december iowa beef a subsidiary of occidental petroleum corp closed its beef processing plant at dakota city nebraska because it said it had no alternative to threats by meatpackers to disrupt operations about 2800 ufcwu members are affected by what the union terms as a lockout
economists said oil earnings could recover this year to about 20 billion dlrs and nominal gross domestic product could grow by about three pct the first rise since 1982
the five year deal is priced at par
dorsey dsy completes sale of unit
traders projected soybean exports at 15 mln to 16 mln bushels down from 203 mln bushels a week ago and 255 mln bushels a year ago
last week the commission granted licences to end august on 60500 tonnes of whites at a maximum rebate of 44819
an argentine official here said no timetable was given for removal of the argentine export taxes
shr loss 11 cts vs loss eight cts net loss 500000 vs loss 500000 sales 474 mln vs 375 mln year shr profit 70 cts vs profit 89 cts net profit 44 mln vs profit 53 mln sales 1955 mln vs 1483 mln
export quotas the major device of the international coffee agreement to stabilise prices were suspended a year ago after coffee prices soared in reaction to a drought in brazil which cut its output by two thirds
hillards shares were unchanged at 313p while tesco was two pence firmer at 475p
it was estimated that if oil fell to five dlrs a barrel it could trigger defaults that could cost the government an estimated 15 billion dlrs
stryker stry acquires hexcel hxl unit
fermenta is due to hold an extraordinary shareholders meeting on tuesday to approve the planned equity issue
traders said the stc attempted to buy eight cargoes of processed palm oil but its price ideas were too low for exporters
nestle said it had also invited fritz leutwiler former president of the swiss national bank and currently chairman of bbc ag brown boveri und cie bbczz to join the nestle board
dealers noted that market confidence had already been at a low ebb with much of the recent impressive rise whittled away last week as investors reacted nervously to opinion polls showing unexpectedly strong gains for the centrist liberal social democratic alliance
it was a pretty healthy report he noted that building materials rose 18 pct in february after falling 17 pct in january
meanwhile traders are no longer required to report all outward payments concerning invisible trade including freight insurance and royalties to the central bank
concepcion named japan and south korea as examples
general leaseholds ltd year net
api also said that three of the states with the highest number of bank failures last year were large oil and gas producers texas oklahoma and kansas
holiday inns also sold thursday via drexel 500 mln dlrs of subordinated debentures due 1999 with an 11 pct coupon and par pricing
entertainment publications epub sees loss
crosby and certian members of his family agreed to sell their class b shares to new york real estate tycoon donald trump for 135 dlrs a share
he did not say what crops have been damaged in northeast thailand but said large durian orchards in eastern chanthaburi province have suffered heavy losses
mannesmann seeks stake in us firm
but sen
a total of 1886 mln hectares was sown to wheat in britain excluding northern ireland up to december 1 1986 for the 1987 crop a ministry of agriculture census shows
shr loss 64 cts vs loss 129 dlrs net loss 5732000 vs loss 4924000 sales 188 mln vs 236 mln avg shrs 90 mln vs 38 mln year shr loss 182 dlrs vs loss 365 dlrs net loss 12267000 vs loss 13911000 sales 1128 mln vs 1293 mln avg shrs 67 mln vs 38 mln
the board proposed a dividend of 155 crowns vs 125
in 1983 the industry drew up a plan envisaging the loss of about 130000 tonnes of annual capacity or about 10 pct of the total
latin debtors make new push for debt relief
in a statement jacobs said it had acquired all the shares tendered by the time its offer expired on march 30
bankers noted that the terms on the new facility compare extremely favourably to those on other short term facilities for which pricing has turned extremely fine due to competition for the mandates
the toshiba spokesman said the sale of such equipment was not comparable to cable and wireless efforts to take a stake in the new japanese telecommunications firm
city resources ccimf to sell property stake
the other dealers are union bank of switzerland and morgan stanley international
atlantic research corp atrco 3rd qtr net
commenting on the two week statement period that ended on march 11 the fed estimated that banks had daily average net free reserves of 759 mln dlrs rather than the 660 mln dlrs first reported
the company said its year end reserves did not include the oil and gas reserves of houston oil fields co which recently agreed to merge with it pending shareholder approval in mid april
the loan will carry a margin of 20 basis points over london interbank offered rate libor amounts pre paid under the loan may at the option of the borrower be converted into a revolving credit commitment with an equivalent maturity to the original maturity on the loan
supporting its conclusion that broad based economic shifts were the cause of the increase in the trade deficit the report said it found that nearly all us industries lost some domestic market share to foreign competitors in the 1980s
seaman furniture co inc seam 3rd qtr jan 31
paye stressed the need for a progressive and joint reduction of agricultural subsidies as well as social measures to help farmers in unprofitable areas
forstmann little and co said it plans to sell sybron corp unit
wen wei po a hong kong daily with close peking links said the drought is the worst in over 20 years and some provinces have been without adequate rainfall for more than seven months
piedmont pie preferred may be cut by s p
central banks are always in contact about these fluctuations but i cannot give any answer how they would react schelsinger said
canadian natural resources ltd said it agreed in principle to sell 80 pct of its working interest in certain producing and non producing natural gas properties located in southwestern saskatchewan
brazil has stuck rigidly to its insistence that the old system be applied
shr 15 cts vs nine cts net 528000 vs 374000 revs not given year shr 125 dlrs vs 42 cts net 2853000 vs 1579000 revs 553 mln vs 468 mln note shr after preferred dividends
to attract some of those investors back to the fold underwriters like bear stearns decided to structure the foreign currency issues as floating rate debt sources said
leucadia national corp a us financial services holding company has received a 50 mln dlr five year revolving underwriting facility ruf said merrill lynch capital markets as arranger
shr 61 cts vs 55 cts net 695252 vs 633329 loans 1252 mln vs 899 mln deposits 2092 mln vs 1729 mln assets 2455 mln vs 2075 mln
nationwide cellular service inc said it has completed the previously announced acquisition of privately held nova cellular co a chicago reseller of mobile telephone service with 1800 subscribers for about 65000 common shares
canbra foods sets special five dlr shr payout
x 1986 rates
the events we sustained yesterday and the day before are a very serious setback for gaspe mines operations lefebvre said
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
jordan will receive two loans totalling 964 mln dlrs to support projects aimed at increasing that countrys electrical production and improving housing in slum and squatter areas the world bank said
its the other side of the lower dollar wyss said
possis poss votes 100 pct stock dividend
squibb could not be reached to comment on the late comments by fildes
danish unemployment rises to 79 pct in january
the zambian currency further depreciated yesterday at the second auction since the introduction of a two tier foreign exchange system last month
the agency said it envisages the repurchase agreements will normally be for a period of seven days
clearly todays prices of more than 15 dlrs a share of dome mines stock are very attractive annesley commented
bel fuse inc belf 4th qtr net
in all of last year magnetic earned 996000 dlrs after a loss from discontinued operations of 359000 dlrs on sales of 6084000 dlrs
the asset backed market which began in march 1985 totals an estimated 119 billion dlrs
newman industries plc said it was discussing the possible merger of its electric motor operations with hawker siddeley group plcs hsidl brook crompton parkinson motors ltd unit
company officials were unavailable for comment as to why the american stock exchange had stopped trading in clarostats stock for a pending news announcement
proceeds will be used mainly for the acquisition of additional woods products manufacturing facilities and related properties wtd said
for the first quarter comeau predicts the company will earn 39 cts a share from 35 cts a share a year ago and should earn about 205 dlrs for 1987
oper shr loss 32 cts vs loss 17 cts oper net loss 2999000 vs loss 1692000 sales 103 mln vs 115 mln avg shrs 9517000 vs 9905000 note 1986 operating loss excludes profit of 3688000 dlrs or 37 cts a share from discontinued operations
with imports again large in september it estimated soviet soymeal stocks sharply up at 800000 tonnes by october 1 from around 130000 at the same time last year
interactive technologies inc itxi 1st qtr net
triangle microwave trmw in talks on buyout
gulf barge freight higher in nearbys on call
dudley taft and narragansett in a joint statement said they intend to explore alternatives to achieve the acquisition including further talks with taft broadcasting
baker said it will continue to pursue the divestitures of the units named in the consent decree
icco buffer stock manager to buy 5000 tonnes cocoa monday june 22 official
moreover doubts had developed about the course of us interest rates
he said the reagan administration has also displayed a determination to resist the currently strong protectionist sentiment in the us congress
twa said it does not intend to seek control of usair acquire more stock at this time
then banks would lift prime rates quickly
since then it has risen to around one mln bpd and is expected to reach about 15 mln bpd by 1995
in january the index fell 11 pct from a year earlier the first drop of over one pct since a 13 pct drop in september 1958
this is a civil action in new york and no one here has any proper details yet he added
world telecoms watchdog relaxes car phone rules
mizuno issuing 30 mln swiss franc five year note
china foreign reserves exceed 10 billion dlrs
but the ratio will be back below 40 pct within 12 months he added
the federal reserve board said it approved citicorps application to purchase through its subsidiary citicorp savings of oakland calif some assets and assume some liabilities of sears savings bank of glendale calif
conoco inc a subsidiary of dupont denemours dd said it raised the contract price it will pay for all grades of crude oil 50 cts a barrel effective yesterday
chemical bank cuts prime rate to 925 pct from 975 pct effective immediately
the services trade surpluses increased to 524 billion francs from 389 billion while the deficit on transfers rose slightly to 436 billion from 418 billion
australia and canada could then increase their wheat exports as they are more competitive than the us he said
officials in mexico guatemala and ecuador said a continued rise in prices would stimulate production but industry leaders in panama and costa rica said there was still a long way to go
the issues were difficult to trade because they comprised securities of variable nominal value it noted
new york investor julian robertson and several investment partnerships he controls said they raised their stake in capital wire and cable corp to 481800 shares or 122 pct of the total from 430200 or 109 pct
contl illinois sees months of brazil debt talks
he said the debt situation was a major consideration
my fear is that if we get into a recession we are in deep soup and there is no question about it he said
zhang said one reason for the rise in exports was improved incentives to export firms which are being allowed to retain more foreign exchange from the goods they sell
the company today reported 1986 earnings of 439100 dlrs on revenues of 9918413 dlrs up from earnings of 259948 dlrs and revenues of 9683392 dlrs a year before
parts of the service sector are also threatened otsuki said
it said it expects to start talks with prospective acquirers shortly
ubs led in late june an offering of 100 mln dlrs of five year notes issued by transamerica financial corp a subsidiary of transamerica corp ta that following september ubs priced as sole underwriter 100 mln dlrs of borg warner corp bor notes due 1991
in 1985 for example exports increased by 91 pct
disgruntled dealers said the market was slowly on the road to recovery after a bout of sell off that began in early february but it was still too fragile to absorb a new issue
repayments of government debt amounted to 33 mln dlrs
but mehdi varzi chief oil analyst with londons kleinwort grieveson securities doubts nigeria will actively push the differentials question in vienna
soros group tells sec it may buy up to 499 pct of fairchild industries
koizumi said the ldp plan will not specify the size of the tax cut or the amount of domestic demand to be stimulated
the other milds group comprising costa rica dominican republic ecuador el salvador guatemala honduras india mexico nicaragua papua new guinea and peru might consult with brazil and colombia on this meeting but it was not certain whether these two countries would attend they said
producers feared continued damp conditions could produce rotting and lead to still lower yield estimates for all the crops including soybean
lower prices on the raw material side had also brought pressure on selling prices it added
british wheat area down ministry census shows
american express said no decision has been reached on the strategic options and that it and shearson could ultimately decide to follow growth plans already in place
usda revises 1986 summer potatoes
claims on foreigners reported by us banks in the fourth quarter rose 299 billion dlrs after a 193 billion dlr third quarter increase
goldman sachs said it has about 17800 first pennsylvania common shares remaining
exxon corp the worlds largest oil company said in a published interview today that it was reviewing its worldwide refinery operations and might decide to close on of its french refineries
associates corp of north america 1st qtr net
the company also said all the courses of action under study reflect the continuing integral role of shearson lehman in american express worldwide financial services strategy
fcs laboratories inc said merger discussions with an unnamed privately held company in the health care field have ended without an agreement
i dont think its going to undermine public confidence in the banking system from brazil alone he said
shr 24 cts net 412737 revs 605321 year shr 93 cts net 1577892 revs 2345261 note full name cpl real estate investment trust
divisions began to show last december when a wave of strikes led by transport workers paralysed the country and drove the government into a new mood of conciliation with labour
the company said it also declared a two for one stock split of both stock issues which is subject to shareholder approval of an increase in the number of authorized class a shares
at least 300 mln dlrs of previously cancelled loans were supposed to go to the dbp the world bank sources said
the administration also plans to renew its efforts to repeal the windfall profits tax remove bars to drilling on the outer continental shelf and repeal the law that limits the use of natural gas in industrial and utility boilers it added
they said the japanese oil market would be most affected and japanese end users would need to rebuild stocks for winter requirements before october
sen
in a brief statement announcing the termination of the agreement with fujitsu schlumberger said the decision opened up other possibilities including a possible buyout by fairchild management
westwood one inc wone 1st qwtr feb 28 net
it said the loan consists of a credit line to ljubljanska banka ljubljana lbl to finance a project expected to improve industrial competitiveness and reduce energy imports easing the countrys current balance of payments difficulties
imperial oil imoa a 70 pct owned subsidiary of exxon corp said that effective march five it also raised its light sweet crude posting to 2195 canadian dlrs bbl
of the new total 150 mln dlrs has been committed by citicorp
ongpin said the restructuring of commercial bank debt as well as of 870 mln dlrs of debt by the paris club of western creditor governments in january was expected to reduce the countrys debt service ratio to between 25 and 30 pct from its current level of 40 to 45 pct
advanced telecommunications atelo to buy co
beryl sprinkel chairman of the white house council of economic advisers said he sees growing but incomplete evidence that us export volumes are finally strengthening in remarks prepared for a speech today in los angeles sprinkel said the decline in the dollars value since 1985 had largely restored us cost competitiveness in world markets and appeared to signal an end to us trade imbalances
shr two cts vs eight cts net 270000 vs 1212000 revs 1858000 vs 1420000 avg shrs 16817618 vs 12507671
financial benefit group inc fbgi year loss
wickes companies inc said it completed the sale of its sequoia supply division to a new company created by the management of that division
savoy industries inc savoo 1st qtr loss
simon and schuster said that woodhead faulkner will continue to publish under that name
investcorp set up in 1982 specialises in buying companies and property in industrialised nations
the australia based ariadne australia ltd plans to set up a branch in the philippines to fulfill a prerequisite for the takeover of the philippine brewing firm san miguel corp a hong kong newspaper said
in the magazine article he suggested that if brewing profits were calculated to be in the region of 80 mln punts the asking price would not be higher than 800 mln punts
in a filing with the securities and exchange commission the group which also includes individual investors and a non profit foundation said it bought the stake for 884414 dlrs as an investment in the anaheim calif company
arvin forecast about 85 cts a share net in the second quarter compared with 68 cts in last years period
japanese officials sought to convince the us that a us japan pact on microchip trade is working ahead of an april 1 deadline set by the us for them to prove their case
the department said an additional 42000 tonnes of us barley are still available to cyprus under the export enhancement program initiative announced on august 26 1986
there will be a multi currency option
the payment date is march 31
bundesbank vice president helmut schlesinger said he saw no reason to lower interest rates now
the first repayment on the loan will fall due in 30 months with full repayment spread over four years
usda forecast argentinas 1986 87 wheat crop at 900 mln tonnes vs 900 mln tonnes last month while the 1985 86 crop was projected at 850 mln tonnes vs 850 mln last month
hong kongs dairy farm says it bids for 22 pct of kwik save for 1466 mln stg
it gives them more room to address the dollar situation he said
shr 77 cts vs 50 cts net 565 mln vs 364 mln sales 5833 mln vs 5159 mln nine months shr 202 dlrs vs 119 dlrs net 1485 mln vs 871 mln sales 169 billion vs 151 billion
market sources and analysts speculated that twa chairman carl icahn made the offer in order to put his own airline into the takeover arena
there is a put option on march 31 1992 to yield 8 1 2 to nine pct and the bond is also callable by the borrower until march 31 1988 at 106 pct declining by one pct per annum thereafter to par
in february the cost of living rose 01 pct from january but fell 05 pct compared with february 1986
although the group said it is considering buying more shares of symbion it said it has no plans to seek control of the company
it will also issue a 15 billion yen 10 year bond and a 10 billion yen six year bond through public placement both with nomura securities co ltd as lead manager
kaufman and broad inc kb 1st qtr feb 28 net
stronger domestic demand growth in the major industrial countries would help give balance to the current world recovery he said
net profit per five guilder nominal share 933 guilder vs 925 corrected for capital increase final dividend 130 guilders and 24 pct stock vs 130 guilders and 22 pct in stock
vegetable oil imports fell to 227500 tonnes in 1986 from 286300 in 1985 and exports to 661400 from 683400 tonnes
hughes chairman william kistler said the revised terms of the proposed consent decree also set a 10 mln dlr cap on how much funding the newly combined companies will have to spend on the disputed drilling bit business until it is sold
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
another negative cited for corporate bonds is the risk of hostile takeovers leveraged buyouts and sudden ratings declines that does not exist with treasury or federal agency securities
some analysts said the open row that broke out last week between producers and the ec commission over its export policy could have serious implications for future sugar output
inflation is running at an annual rate of some 17 pct and the rand is around 4953 us cents
api says distillate stocks off 735 mln bbls gasoline off 289 mln crude off 439 mln
there is no fundamental weakness of the paris accord he said
us home uh sees best first qtr since 1983
the governments industry aid and protection review body the industries assistance commission iac will hold a 12 month inquiry into the australian wheat industry primary industry minister john kerin said
it is also involved in broking notes obligations and other instruments sponsored by us federal agencies
pending its deliberations harper and rows board has postponed indefinitely a special meeting of stockholders that had been scheduled for april 2 to discuss a proposal to recapitalize the companys stock in order to create two classes of shares with different votinmg rights
latest year net both periods includes gain 9100000 dlrs from sale of interest in memphis tenn shopping center
wedgestone realty investors trust said it has issued institutional investors 10 year warrants to buy 575000 shares at 1650 dlrs each in connection with the previously announced sale of 10 year promissory notes to the investors
we have to make sure it would work but lawson added that some of the considerations that had made it difficult for britain to join in the past now posed less of a problem
earlier this month the estate of james m
malaysias 1986 manufacturing exports rise 24 pct
opec is keeping its production down and in the cash market there is tight supply of crude with short transportation time to major refining centers said daniel mckinley oil analyst with smith barney harris upham and co
reserves were built up during the late 1970s and early 1980s when saudi arabias breakneck pace of construction and tales of high spending became legendary
shr 370 cents vs 600 final div deferred vs 11 cents 1985 full year 200 pre tax 17105 mln vs 23997 mln net 8867 mln vs 14404 mln turnover 40042 mln vs 50651 mln other income 8544 mln vs 7104 mln shrs 23899 vs same
the companys sales totaled 67 billion dlrs last year
miyazawa told the japanese reporters the us unit fell because japanese investors sold dollars to hedge currency risks before the close of the 1986 87 fiscal year on march 31
the managua meeting was attended by representatives from brazil mexico guatemala el salvador honduras costa rica nicaragua and panama the latter represented at the meeting merely as an observer
it said it cancelled a previous pact with a yugoslav firm because the firm could not raise enough capital
he said the countrys balance of payments was now projected at a surplus of about 12 billion dlrs in 1987 compared with a surplus of about 11 billion dlrs in 1986 and a previous projected deficit of 12 billion dlrs this year
this reflected the decline in oil prices last year and difficulties in marketing uae oil the central bank added
stratus computer inc strao 3rd qtr net
moodys investors service inc said it upgraded to aaa from aa 1 the insurance rating of general electric mortgage insurance co of ohio a unit of general electric co
us scientists said some tropical vegetable oils can be hazardous to consumers whose health is at risk because of high levels of saturated fat lending weight to a campaign by the american soybean association asa for labelling changes
it was larger than the previous record 304 billion dlrs rise seen in october 1977
the bundesbank balance sheet total rose around 544 billion to 22222 billion marks
pope and talbot pop sells convertible debt
china may have to import he said
this takes the banks total help so far today to 219 mln stg and compares with its estimate of a 300 mln stg shortage
but were delighted that big rivers electric was denied the requested rate increase a spokesman for the utility a cooperative that generates and wholesales electricity to four distributors said the requested increase was 75 mln dlrs a year over 1985 rates
royex makes bid for international corona
shr profit five cts vs loss 211 dlrs net profit 375061 vs loss 104 mln revs 399 mln vs 378 mln avg shrs 6536008 vs 4939895 12 mths shr profit 47 cts vs loss 337 dlrs net profit 2837288 vs loss 166 mln revs 1691 mln vs 1494 mln avg shrs 6037640 vs 4937378 note primary earnings per share are based on the weighted average number of common and dilutive common equivalent shares outstanding during each period after accounting for preferred stock dividends
baker told a senate committee that the administration would resist such measures as a general import surcharge sector specific protection such as import quotas for individual products mandatory retaliation and limits on presidential discretion in negotiating more open markets abroad and other trade steps
franklin massachusetts sets monthly payout
daiwa won its first us corporate debt offering in september 1986 and followed that with the march 11 competitive win
the philippines and its foreign creditor banks will sign formal documents in mid july to restructure part of its debt the central bank said
electronics retailing is very management concentrated theyd want to keep crazy eddies management in place laurence said that since entertainment marketing already owns 43 percent of crazy eddies 313 million shares it may be trying to get the antar belzberg group to increase its 7 dlr a share offer
koninklijke nederlandse papierfabrieken knpnas 
but he warned that the outlook for rural and iron and coal exports remained poor
qtly div 69 cts vs 69 cts prior payable may one record april 10
politically it would be totally unacceptable an aide to a senior farm state senator said
miti means business
given brazils port loading capacity of around 100000 bags a day even if normal operations were resumed immediately and not interrupted by bad weather some march registered coffee will inevitably be shipped during april they added
reagan said the united states japan and west germany had all reaffirmed their commitment to coordinate economic policies
lyng indicated the two countries have been unable to agree on the mix of concessional and commercial aid and that washington would prefer the package include something other than donated food
sgl has termed the 162 billion dlr offer unsolicited
the package includes 540 mln dlrs of three month bonds and 117 billion dlrs of six month bonds
el paso electric elpa to buy back bonds
tokyo stock plunge could force easier money policy
grand mets heublein to close almadine winery
but analysts say the wallenbergs position in the electrical engineering firm asea ab asea st is also too small at 126 pct of the voting rights and there has been growing speculation that the group will be forced to sell off fringe interests to protect its core activities
qtly div 7 1 2 cts vs six cts prior pay june 3 record may 15 note full name allegheny and western energy corp
also participating in the agreement was banner industries inc which previously agreed to acquire rexnord
northern trust nrts files for shelf debt
ec commission rejects sugar threats sources
over 10 pct of the total available shares has been reserved for staff
us business loans fall 618 mln dlrs in feb 25 week fed says
placer has estimated the epithermal deposit located on the eastern half of misima island off the southeastern coast of papua new guinea contains proven and probable reserves of 621 mln tonnes grading 135 grams tonne gold and 20 grams tonne silver and exploration is continuing
pharmacia ab phab st 1986 year
when asked if the office of management and budget had resisted the cash certs ratio the usda official said that we proposed 50 50 and omb accepted it
ltv and am general last year sought protection under chapter 11
canadian money supply m 1 fell 430 mln dlrs in week bank of canada said
kaputin said papua new guinea was experiencing a boom with exploration companies spending about 60 mln kina annually on about 150 mining and 23 petroleum projects
moodys also cited significant litigation against people
it bought a further 429 mln stg of bills for resale to the discount houses on april 2 at an interest rate of 10 7 16 pct
business computer solutions inc said it expects to report a profit for the fourth quarter ended february 28 its first quarterly profit ever of about 175000 dlrs on revenues of about 750000 dlrs
the agency said it has 79 billion dlrs invested in canadian private sector businesses after channeling 965 mln dlrs of new funds into this area in 1986
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
joe gold sjg to develop mine
syngold exploration inc and corp falconbridge copper said they defined undiluted reserves of 911000 tons of ore with an average grade of 043 ounces of gold per ton in two separate deposits on the deka property located at noranda quebec
i think that what brazil is calling for limiting its debt payments to two and one half pct of gnp is a responsible request on their part economist martin feldstein said at a weekend news conference
dreyers grand dryr restates 4rth quarter loss
however he expected turnover for the year to be approximately unchanged from the previous years 514 billion marks when current orders from major projects are booked
reynolds metals rose three points to 59 5 8 on volume of 729500 shares
thompson medical co inc tm sets quarterly
the surinam aluminum company suralco registered a 75 pct drop in alumina exports in february after its operations were shut down by worker violence and guerrilla sabotage the official surinam news agency sna reported
trading was in fact rather light against currencies other than the yen the dollar holding little changed through the day
golden enterprises inc gldc 3rd qtr feb 28 net
if the average weight is down and there is no price weakness to delay marketings the cattle would be marketed at lighter weights which could reduce the beef supply as much as three pct
salomon inc sb sets regular quarterly
at the time taft said the transaction would result in an after tax charge of 45 to 50 mln dlrs
inflation for the 12 months ending in february was 23 pct the spokesman said
the french corn growers will clearly charge ahead now and just change corn to corn gluten feed in their complaint hall told 
this is in line with the governments policy to limit our trade surplus with the united states to help reduce trade friction between the two countries the official said
louisiana pacific lpx buys oregon sawmill
freedom federal savings bank said it will recognize in its first quarter earnings a previously deferred 15 mln dlr gain which resulted from the sale of an apartment complex in 1983
both sides cannot be winners he said
emco sets 75 mln dlr debenture offering
foreign exchange operations can be in mixed currencies instead of having to borrow and lend in the same currency
under the 1957 treaty of rome all contracts and agreements signed by the community must contain this territorial clause stipulating west berlin is an integral part of the ec
clearing bank sterling lending to the uk private sector in february is estimated to have risen by an underlying seasonally adjusted 16 billion stg after a 12 billion stg rise in january the banking information service said
qtr ended jan 31 shr profit nine cts vs loss 30 cts net profit 317000 vs loss 997000 sales 6338000 vs 3119000 note 1986 net includes extraordinary gain of 90000 dlrs or two cts per shr
tam said the dollar has hit short term chart targets and is likely to rebound
an export enhancement offer is not consummated overnight said one former usda official who noted that the administration took three months to decide in favor of selling china wheat under the subsidy program
american business products inc abp 3rd qtr
sept 30 end shr 14 cts vs 20 cts net 733980 vcs 871720 revs 147 mln vs 120 mln avg shrs 5130190 vs 4302430 year shr 61 cts vs 60 cts net 2763308 vs 2550133 revs 500 mln vs 431 mln avg shrs 4565189 vs 4277046 fiscal 1987 net both periods includes charge 480000 dlrs to adjust premium reserves for workers compensation and liability insurance claims
they did not say where cuts might be made
he also urging filling the strategic petroleum reserve at a faster rate
irrigation development has been a major factor in improving agricultural performance and yields in many areas but fall short of their potential due to unreliable water supply and often inequitable distribution it noted
he said with this appraoch america would suffer the death of one thousand cuts but for the united states to grab the initiative militarily it must take warlike steps such as mining irans harbors or blockading the mouth of the gulf through which its shipping must pass schuler said
royal bank of canadas ry small brazilian commercial bank subsidiary banco royal do canada brasil sa sees opportunities for its own growth with an expected substantial increase in brazilian exports to canada banco royal president michael brennan said
phelps dodge pd sets sights on acquisition
the new price for continuous galvanizing grade alloyed with controlled lead and aluminum additions is 37 3 4 us cents and 50 1 4 canadian cents a pound
june 15 july 15 bill of lading for wheat was offered at 17 over july no comparison no bid
qtly div 75 cts vs 65 cts prior pay june one record may one
opec agreed in december to cut output by 725 pct to 158 mln bpd and to return to fixed prices starting february 1
our first problem is to produce enough vehicles to meet the demand calvet said
but dealers said the terms were not enough to attract foreign investors and the federal government would have to push yields higher in future if it wanted to borrow again soon
cablevision to buy valley cable for 100 mln dlr
it began operations in november 1985
1986
until the competitive ability of industry improved the authorities would have little scope for macroeconomic manoeuvre even if the unemployment situation or the need to encourage a pickup in investment could require demand to grow more briskly it added
american aircraft corp said it has acquired a 51 pct interest in privately owned hunter helicopter of nevada inc for an undisclosed amount of stock
as a result they have attracted complaints from a business community that says it is starved of funds while the government is criticising it for not playing a larger role in the economy
subscription is from may 7 until may 13
usg maracaibo 10000 mt wheat three grades three days 1000 1 15 4
chartered bank net foreign currency assets fell 92 mln dlrs to minus 192 billion dlrs
hackmann said she would not make much change to her ideas about corn planting figures as a result of the conservation sign up
he said involuntary lending proved useful in the two or three years since the mexican debt crisis in 1982
indonesias foreign minister mochtar kusumaatmadja told in jakarta these agreements can work as long as the problems are cyclical but its another matter when there are structural problems but we are still committed to commodity agreements as an act of faith nicaraguan external trade minister alejandro martinez cuenca said in london producers cannot afford not to give their backing to commodity agreements
syria will hold a buying tender on april 8 for 36000 tonnes of white sugar for shipment in june july and august at a rate of 12000 tonnes a month traders said
commenting on februarys decline in the key m 2 aggregate slifer said the main cause was a 32 billion dlr drop in money market deposits at banks
the institutes were divided in their spring report on forecasts for 1987 with three predicting two pct growth and two seeing only one pct expansion
china has switched purchases of us wheat totaling 60000 tonnes from the 1986 87 season which began june 1 to 1987 88 season delivery the us agriculture department said
shr loss five cts vs loss six cts net loss 473784 vs loss 489257 revs 268797 vs 81725 avg shrs 9245247 vs 8035326 year shr loss 17 cts vs loss 20 cts net 1512534 vs loss 1553592 revs 1448310 vs 515225 avg shrs 8745132 vs 7619863
uk confirms february sterling m3 rise
the trade issue has now become a political issue since the reagan administration is facing uproar in congress over th3pygks in cutting the countrys 1698 billion dlr trade deficit they said
shr profit 28 cts vs loss 32 cts net profit 1190000 vs loss 686000 revs 408 mln vs 22 mln year shr profit 20 cts vs loss 49 cts net profit 2021000 vs loss 1162000 revs 103 mln vs 95 mln avg shrs 4206371 vs 2124967
speed o print business machines corp is full name of company
uae central bank cd yields unchanged
the ufcwu will consider all options available to it including a strike or returning to work under ibps last labor contract proposal a spokeswoman for local 222 said by phone
pdvsa to sign champlin refinery deal march 17
usp real estate uspts has gain on sale
the finance minister further said that overseas stock market plunges will not lead to a freefall in the tokyo stock market
i see no evidence that the philippine government even contemplates doing that
surplus on commission 2088 mln marks 1881 mln
analysts said that if the field were declared commercial and developed there would be a ready local market for the heavy crude it produced
a num spokesman said 6000 workers began an underground sit in at the grootvlei gold mine owned by general union mining corp to protest the transfer of colleagues to different jobs
the us does not have the low end consumer ics integrated circuits that the japanese need for consumer products
production in 1986 when indonesia was forced to import sugar is officially estimated at 2016 mln tonnes against 1728 mln in 1985
heller said there was a danger of renewed price inflation
the issue is also being lead managed by credit lyonnais
in its monthly report on the soviet grain situation the usda said imports will be higher than earlier estimated because soviet grain buyers have been actively purchasing in the last month
he speculated that someone in the same home improvement business might be able to offer a deal for stock that would top both the buyout proposal and bilzerians plan
tmoc has oil and gas interests and pipelines which complement the operations of santos the major cooper basin oil and gas producer
fed watchers see us economic inflation upturn
itc contests use of documents as court evidence
jamesway corp sets 2 for 1 stock split ups cash payout 33 pct
qtly div 10 cts vs 10 cts prior pay april 10 record march 27
during that period principal payments will be deferred if necessary and interest will be capitalized on a portion of the long term debt it said
total retail sales on average were 123 billion dlrs in the fourth quarter of 1986 she said
the new british one ounce gold coin the britannia will be priced on the basis of the gold price on the day of purchase plus a competitive premium treasury officials said
the bond will be listed in west berlin duesseldorf frankfurt hamburg and munich
after these the cash balance should fluctuate around 30 mln nz dlrs
the prices will remain in effect for a week but new prices could be announced earlier if warranted usda said
shr loss 32 cts vs loss seven cts net loss 1566000 vs loss 292000 revs 394 mln vs 347 mln year shr profit 79 cts vs profit 74 cts net profit 3651000 vs profit 3020000 revs 1479 mln vs 1142 mln avg shrs 4639000 vs 4059000 note per shr adjusted for 3 for 2 stock split july 1986 and 2 for 1 split may 1985
baker acknowledged darman would be sorely missed
woolworth holdings says it bidding 244 mln stg for superdrug stores
for that we must take the step forward to the institutional level said leo de corel of kredietbanks economic research department
krieger said the major stumbling block in the talks with nbc was the networks insistence on having the right to hire engineers and writers on a daily basis
cut were the debt ratings of allied bancshares inc albn first amarillo bancorp inc fama mcorp m and texas american bancshares inc txa s and p cited continuing asset quality problems
they said they would mine 460000 tonnes of proven and probable mineable reserves of oxide ore grading 045 ounce gold ton at a yearly rate of 112000 tonnes for a mine life of 425 years
world bank chief concerned about brazil economy
he made the remarks in conjunction with the release of the energy departments study on oils impact on national security
guinness is also planning a resolution at the annual meeting in may to remove both saunders and ward from the companys board
at last weeks session the nigerian currency was fixed at 40 to the dollar the third fall in a row
gatt meeting hears plea for african debt relief
chesebrough said basss 1986 sales exceeded 170 mln dlrs
brodersohn and other latin officials however did not spell out how this should be achieved
aero services aeroe in pact for nominations
ongpin said the prepayments would hardly affect the philippines balance of payments position
turning to contributions to its earnings cra said bougainville copper ltd buvas contributed 313 mln dlrs while its share of comalco ltds cmacs net was 378 mln
news corp nws starts harper row hpr bid
in march 1986 the figure stood at 24 pct
imperial oil imoa in talks with suppliers
the dividend is payable july one to shareholders of record may 29 it said
phillips top priority in 1987 will be to get the waterflooding in norway and jack up the ekofisk oil fields to improve our ability to extract oil and increase earnings silas said
imports in 1985 86 totalled 224000 tonnes of which nearly 100000 tonnes are still in stock they said without giving further details
k mart km ends talks to sell stores
lac minerals ltd and cambior inc said they completed a second hole at their jointly owned doyon mine in quebec which showed two significant gold intersections
henley group incs mw kellogg co unit said it was selected by chinese petroleum corp to design engineer and build a ethylene plant at chinese petroleums kaohsiung refinery in taiwan
januarys rise in 1981 prices was fueled largely by a 05 pct gain in the goods producing sector
she said she hoped more economic exchanges between britain and the soviet union will also lead to increased friendship and increased understanding earlier she told a meeting of soviet and british businessmen that she had agreed with ryzhkov that they would work to achieve a total volume of 25 billion roubles in bilateral trade by 1990
inverness said it issued 2640000 class a convertible retractable redeemable preferred shares in exchange for the assets which include all silvertons oil and gas properties undeveloped acreage and its shares of australian subsidiary srl exploration pty ltd
shr 25 cts vs 31 cts net 4798000 vs 5380000 revs 653 mln vs 582 mln avg shrs 192 mln vs 175 mln year shr 84 cts vs 89 cts net 15750000 vs 15191000 revs 2621 mln vs 2158 mln avg shrs 188 mln vs 171 mln
brazil currently consumes 11 mln barrels of oil per day
it said the unit was similarly limited in power in late 1985
they said the market must have misinterpreted bakers comments because he was referring to the dollars fall since the plaza agreement in september 1985 over a long time span not the currencys recent movements
alleghanys msl industries inc unit had agreed to buy the steel assets from dixons group for 1116 mln dlrs
it was better to give a vague expression than pin pointing a level which could have an adverse impact on the market miyazawa said
while many believe producers will not seek to add to the overburdened stock situation in the us others believe some will ship outside of the quota requirements in lieu of monitoring controls trade sources said
the barley area was unchanged at 952000 ha but oilseed rape increased to 393000 from 333000 ha
first city said chargeoffs and paydowns reduced its total energy loan portfolio by 32 pct during 1986 to 14 billion dlrs at year end adding that future energy chargeoffs should be more modest the amount represented 15 pct of first citys total loans
resource said it would receive a cash payment and an overriding royalty interest on oil and gas production from wells drilled on the property
on april one nymex will allow oil traders that do not hold a futures position to initiate after the exchange closes a transaction that can subsequently be hedged in the futures market according to an exchange spokeswoman
audi said in january that 1987 car production would rise to over 400000 from 384000 in 1986 when output had fallen compared with 1985s 392000
cis technologies cih to sell shares to swiss co
the tax reform act of 1986 will have a substantial impact on continental illinois corp the companys annual report says
it estimates export earnings will have dropped by 71 billion dlrs between 1985 87 as a result of falling commodity prices
it said one major libyan equity producer had partially stopped lifting its 55000 bpd equity entitlement for march because libya was insisting on official prices but is still lifting 40000 bpd of debt crude at official prices and a further 25000 bpd of purchase crude it said small equity producers with entitlements of only 2000 to 3000 bpd had also told tripoli they could not lift at official prices
the paper will be issued in denominations of 500000 and one mln dlrs
during its routine intervention in the market the bank trimmed the rates at which it deals with the discount houses by half a point and national westminster led the other clearing banks in reducing its base rate to 10 1 2 pct from 11 pct
the report added that in fields which pay prt there will be a cost in being able to have this early relief
st
pillsbury also reported lower profits at distron burger kings distribution arm and said increased investment spending on developing concepts quikwok bay street and key west grill hurt results
if theres that much of a discrepancy between prices for one country and another producers may be teted to get rid of their stocks of coffee by selling to non member nations and by circumventing the quota provisions said paine webber analyst bernie savaiko
it said robert bruce reliance group holdings incs rel designee on spectra physics board resigned his position on may 29
norways current account in deficit
shr 22 cts vs 22 cts prior qtr pay june one record may 12
he said argentina was seeking 215 billion dlrs credit to meet the targets adding that the banks attitude had improved following brazils decision
the japanese quotas on 12 food categories which the united states has challenged include items such as tomato paste some cheeses and specialty fruit juices
usda spring potato estimates
dealers said federal funds were trading at six pct when the fed began its temporary and indirect supply of reserves to the banking system
for lunch i buy the teishoku daily special which comes with soba buckwheat noodles or pork cutlet pickles miso soup rice and tea although she takes only coffee for breakfast and a sandwich for dinner
quarter net loss originally reported as 320 mln dlrs or 38 cts shr on sales of 3289 mln dlrs and nine mth loss as 1203 mln dlrs or 140 dlrs shr on sales of 111 billion dlrs
us steel production rose 13 pct in week
poehl noted west germany had already taken steps to meet us demands for greater stimulation of its domestic economy accelerating tax cuts cutting interest rates and tolerating above target money supply growth
terms of the agreement were not disclosed
by law no more than three commissioners may be of the same political party and the agency prepares its own budget request each year instead of leaving this to the white house
montgomery further told the conference dont be an investor in the stock on the basis of any short term recovery in operating or net income in 1987 and 1988 our concentration is on maintaining or increasing market share in our core businesses this year and next regardless of the impact to the bottom line he said
both companies produce and market microcomputer software
industrial production and the producer price index friday both are expected to show increases of about 05 pct she added
spains minas de almaden y arrayanes sa has agreed with algerian producer enof to establish a minimum price of 300 dlrs per flask for spot mercury sales almaden spokesman jesus gallego said
the prudential bache energy growth fund is a publicly owned limited partnership formed in february 1987
the 100 pct tariffs are to be imposed on 300 mln dlrs of japanese goods recommended for curbs by a special panel of experts headed by the us trade representatives office
earnings per share reflects a 50 pct stock dividend in the form of a class b common stock distribution on june 30 1986
chinas fifth securities market to open
as far as it knows the ingredient has not been tested in a spermicide
under the plan stockholders will receive a dividend distribution of one right for each share of common stock held on march 23
proposed offerings recently filed with the sec
yulo said prices were driven up because of speculation following the sras bid to control production
we shall have to wait and see
striking seamen said they would offer their collective resignation rather than end their 13 day old national strike on managements terms
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
qtly div 35 cts vs 35 cts prior pay may 14 record april 30
alcan nz last traded at 155 nz dlrs while alcan australia today ended four cents down at 115 dlrs
meditrust mtrus raises quarterly
of that amount six billion dlrs is targeted for electronics
nazer said opec estimated demand for its oil during third quarter this year would be around 166 mln bpd
reducing these prices could increase household spending power by five pct his study said
through a series of transactions investors will receive 100 common shares of cdc for each unit representing a price of 16 dlrs a common share
itoh and co ltd cittt have decided to sell their combined 65 pct stake in indonesias pt triguna utama machinery industries to caterpillar tractor co spokesmen for the two japanese companies said
manhattan national corp mlc 4th qtr loss
toronto dominion bank nassau branch is issuing a 40 mln australian dlr eurobond due may 15 1990 paying 14 1 2 pct and priced at 101 3 8 pct lead manager hambros bank ltd said
chambers development co inc cdv 3rd qtr net
carney said there was a lot of political will among the ministers here to complete the uruguay round of gatt in under four years and that there is also a realisation that it has to be done in a balanced way
jutland telephone co has launched a 75 mln 10 year bond with a 4 3 4 pct coupon and par issue price market sources said
the figures showed that only 77 pct of enterprises met their supply obligations in january and february
trw incs trw componenets international inc unit said it set a pact with tektronix incs triquint semiconductor unit to jointly supply gallium arsenide devices for space applications
shr 67 cts vs 62 cts net 9160000 vs 7722000 assets 45 billion vs four billion note shr and net data are before accounting change announced in 1986 which added 30 cts a share to year ago 1st qtr results
it is an important institution but we do not accept it to monitor our economy he said
economists said the trend may cause domestic investors to shift some funds from short to longer term paper
current dome shareholders would own 20 pct of the new subsidiary
the exchange offer covers sharons outstanding 135 pct subordinated sinking fund debentures due 2000 and its 1425 pct subordinated sinking fund debentures due 1990
the three tranches have average lives of 121 178 and 227 years respectively salomon brothers said
zemljaric was not quoted as saying whether the two billion dlrs referred to principal or interest or both
pratt recently made an apparently unsuccessful bid to acquire control of resorts international inc rtb seeming to lose out to donald trump
oracle said after the offering it will have about 285 mln shares outstanding
butler co butc 2nd qtr feb 28 net
exports in october could be relatively modest due to many public holidays but by the end of this year the surplus will be well over nine billion dollars close to ten yonhap said
captive had 2649500 common shares outstanding before the merger
in january the judge ruled that the uk court had no jurisdiction to wind up the tin council the itc was not an association within the meaning of the uk companies act and the winding up petition was not a proceeding in respect in respect of an arbitration award
amstutz said the difference of opinion between moscow and washington last summer on the level of the us subsidy offered on wheat to the soviet union was over whether the us wheat price was competitive or cheap
the estimate for 1986 87 imports was revised to 1642 mln tonnes from an earlier 1645 mln tonnes
dominion textile president and chairman thomas bell was out of town and unavailable for comment
some 7000 black workers returned to work after staging one day strikes at two mines on monday the national union of mineworkers and the companies that own the mines said
trenwick group inc tren 4th qtr net
many companies appear to be switching from oil to gas drilling because theyre betting that the gas market will be back in balance in a year or two the prospect of diminishing gas supplies is welcome news for drilling and oilfield service companies that barely survived last years plunge in oil prices from about 30 dlrs a barrel to less than half that
results exclude extraordinary gain from net loss carryforward of 228000 dlrs or three cts a shr in the 1987 3rd qtr and 1043000 dlrs or 18 cts in the 1987 nine mths
the deferral of all principal payments until april 1989 will save the company 12 mln dlrs in cash flow in each of the next two years it said
other issues discussed include ratification of the new accord the officials said
that topped the proposed merger of los angeles based security pacific corp spc and seattles rainier bancorpartion rban the west coast deal announced about four weeks ago is worth an estimated 12 billion dlrs
separate management and underwriting fees common here may also be eroded which now make german underwriting business profitable compared with other centres
ge ge profit outlook aided by engine order
in the robusta sector nearby material was rather scarce with turnover limited the sources said
allied will be taking bids for its other divisions
shr loss 45 cts vs profit 25 cts net loss 641000 vs profit 352000 revs 5747000 vs 3038000
the company said the agreement is subject to approval by regulatory agencies both boards and walker shareholders
two large container cranes donated by the danish international development agency danida have arrived in dar es salaam where they will help to increase the ports cargo handling capacity port officials said
it said the planned transactions will leave mclean with no significant shipping assets except 12 new york class vessels which are not in operation and are expected to be sold
a foreign banker close to the debt negotiations said he did not foresee any real boom until 1989
dieter noted however that pipes and related products accounted for less than 30 pct of mannesmanns turnover
bci holdings to sell bottled water division
aslk cger finance issues 10 billion yen bond
bangladesh trade deficit narrows in october 1986
over 30 of philippines 483 creditor banks still have to sign the agreement before the november 15 deadline
the state department statement said gsa tin disposals increased in calendar year 1986 due to changed market conditions
imports in 1985 86 are put at 1570 mln tonnes vs 1570 mln tonnes last month
shanghai tyreb factory to raise 30 mln us dlrs
feb daily ave unwrought aluminium output 33900 tonnes up 400 tonnes ipai
the question is how far and how fast yeutter said
franklin new york tax free income fund payout
delta group dltll year to jan 3
commitments to new argentine loan reach 91 pct close to critical mass citibank says
qtly div nine cts vs nine cts pay may 21 record may 1
speaking after talks with the committee here gros also said he did not expect to make interest payment to the banks at this moment
oshawa group ltd 4th qtr net
the selling concession is 1 1 2 pct while management and underwriting combined pays 3 4 pct
merrill corp mrllo 1st qtr april 30 net
the bonus was 137900 dlrs per head and was made to holstein friesian inc and will be paid in the form of commodities from the ccc inventory
siemens ag a west german company is also developing a rate responsive pacemaker
the new cds have maturities of six months one year and two years and bear interest rates ranging from 407 pct to 512 pct he said
morgan stanley is sole manager of the offering which will be rated aaa by standard and poors corp
but officials here said they hope that can be avoided
at 40 dlrs a share home federal said the total market value of the transaction would be about 175 mln dlrs
he said renouf built up its nzi holding over the past six months
yugoslavs have 98 billion dlrs worth of foreign currency savings in the country and 20 billion dlrs abroad mostly owned by workers employed in western europe
under the facility notes in denominations of 500000 dlrs will be issued with maturities ranging from one to six months
moodys said the changes reflect the reduced levels of debt protection resulting from gelcos restructuring efforts
this was definitely a budget for lower sterling interest rates said a sterling analyst at a uk merchant bank
the issues have been in a partly paid form where the full price does not have to be paid until the start of the new fiscal year and therefore they are not counted in the current years fund raising
non callable for life the issue is rated a 1 by moodys and aa by standard and poors corp
tomasso and its executive vice president james d
much of that outflow has yet to be converted back into rupiah
sichuan has experienced temperatures three degrees centigrade higher than normal and rainfall up to 70 pct less than normal since early february affecting wheat oil bearing crops rice planting and dryland cash crops it said
the federal reserve entered the us government securities market to arrange 15 billion dlrs of customer repurchase agreements a fed spokesman said
combined pre tax profit 276 mln stg vs same making 114 billion stg vs 953 mln
he said the state will increase investment in agriculture and supplies of fertiliser diesel oil and other production materials and stabilise fertiliser and diesel oil prices
lacy said exco had been considering buying a us government securities broker for the past four years and had made an offer for rmj when it was sold by security pacific corp spcn in 1985
it said the acquisition involves about 84 mln dlrs of net receivables
as a result the banks net income for the first quarter will be reduced by about 40 mln dlrs
at a news conference earlier on tuesday stoltenberg had declined to comment specifically on bakers criticisms but he had said that after three hours of discussions on monday one remark or another has been clarified
etl said the offer will have no minimum acceptance conditions and will be subject to australian foreign investment and us hart scott rodino anti trust clearances
cpc said the sale is not expected to have a significant impact on its earnings and is subject to approval by boards of both companies
new jersey resources njr files to offer stock
fleet financial group said it might have to sell its first connecticut corp subsidiary as a result of its proposed 13 billion dlr acquisition of norstar bancorp nor under connecticut banking law new england based bank holding companies such as fleet are not allowed to operate connecticut banks if they merge with companies from outside the region
sharp said exports to the ec of pc 7000 series lap top personal computers would continue at last years level of 12000 to 16000 units a year
the us strategy for dealing with the debt crisis is expected to be repeated by treasury secretary james baker in a speech to the banks annual meeting today monday but monetary sources expect baker to suggest the united states has some room for compromise and also to fend off other challenges to its strategy by signalling washington is open to innovative solutions to the debt problem
bii enterprises inc year nov 30 net
us bonds could benefit due to a gloomy economic picture following the estimated huge losses in stocks by major us institutional and individual investors he said
the main drop will probably come in july she expects todays estimate will be 126 mln boxes
us house passes gulf bill despite opposition
south yemen plans oil export pipeline mees
atlas said the two sides were also discussing equity infusion into atlas and the creation of a development fund for further exploration and development of the companys gold properties in the central province of masbate
the spokesman was commenting after vw had confirmed it would pay an unchanged 10 mark dividend for ordinary shares on 1986 business despite the provision
balladur insists on maintenance of louvre accords
the offer is conditioned upon at least 80 pct of the outstanding shares and at least 80 pct of the voting securities being tendered before expiration of the offer
the very recent improvement in the price structure is an indicator of such determination by the organization to stick to the official selling price the statement said
health experts urge eradication of rinderpest
opec has reaffirmed its commitment to fixed crude oil prices of around 18 dlrs a barrel and an overall output ceiling of 158 mln barrels per day bpd to defend prices its president rilwanu lukman said
traders in the state capital salvador told the effects of a dry period in the first six weeks of the year had been harsher than thought earlier
oil revenues are expected to produce 92014 billion or 61 pct of the total
schlumbergers management shift asset restructuring including a pending merger of fairchild semiconductor and its considerable cash horde sets the stage for the company to maximize its significant industry advantage and capitalize on the project upturn in exploration and development activity according to a report by george gaspar first vice president at robert w
allied research associates inc arai year net
this takes away the feds flexibility to ease but theres no reason to tighten
williams also said the previously announced sale of its agrico chemical co unit to freeport mcmoran resource partners ltd has cleared antitrust review and should close next week
world bank president barber conable said he was confident brazil would come up with a debt plan and that the current suspension on commercial bank debt payments would be temporary
stillmann and other cotton market sources said planting had begun in the rio grande valley and south texas areas only with planting in the crucial high and low plains areas not slated to begin until next month
it said the number of units outstanding for both years is 6479516
japans ldp to call for flexible monetary policies
intermark imi plans refinancing
this is not the way to work in a serious way between two big powers de croo said
dealers said payments by the dutch state partly in the form of civil service wages had outweighed payments to the state causing the money market deficit to ease
eastman kodak ek sells 25 mln dlrs of notes
the government is determined to ensure that papua new guinean ownership in minerals and petroleum projects increases in an orderly way he said
a 10 percentage point reduction in the australian governments maximum crude oil levy on old oil would stabilize bass straits oil output resources analyst ian story said here
campeau says it is not part of sec proceeding
comdata network cdn in new acquisition talks
the us agriculture department proposes to rename the usda good grade of beef to usda select the department said the proposed change is in response to a petition from public voice for food and health policy and would present a more positive image of this grade of beef and help calorie conscious consumers select leaner cuts of meat
bt asia ltd is junior co manager with a two mln dlr commitment
the strength of the real estate market was another major income source for the bank group
brown said if the suit were settled for 10 mln dlrs it would have an impact on browning ferris earnings
in the us organic growth from the lipton foods business considerable expansion in the household products business and in margarine had been behind the overall sales increase
central bank president jose luis machinea said negotiations with creditor banks on argentinas 30 billion dlr private sector foreign debt were difficult
tribune trb files 300 mln dlr shelf registration
this compares with actual 1985 86 output of 570000
watanabes latest proposals said that the eight core companies of the new group should have equal share holdings but added that they could work out the precise percentages amongst themselves
uk money market gets 25 mln stg late help
other interest holders in the kerna four well are santos ltd stoss 50 pct delhi 30 vamgas ltd 10 south australian oil and gas corp pty ltd 10 pct
were opposed to tax increases we will fight tax increases we will deal with it politically in every forum possible said fitzwater when questioned about whether there was any change in the administrations position
treasury secretary james baker told the house appropriations committee the united states is still pressing newly industrialized south asian nations that have tied their currencies to the dollar to let those currencies strengthen against the dollar
the central government does not have enough money to meet their needs
the inland revenue estimated that the income to the treausry would be negligible in 1987 88 but could build up over time from about 20 mln stg in 1988 89 to 60 mln stg in 1990 91
the industry is becoming very selective in investments very conservative and cautious which is not unexpected canadian petroleum associations maciej said
speculation has continued for several days that the us is considering making an export bonus wheat subsidy offer to the soviets but us officials have provided no confirmation
now that the debt agreement is out of the way our economic and financial officials can concentrate on their work like increasing government revenue and efficiency he said
the initial distribution will be in cumulative redeemable retractable floating rate class a preferred shares series ii which will carry a retraction right enabling holders to receive 1275 dlrs for each share
the dividend is payable april 27 to shareholders of record april 7
unilateral intervention itself cannot ensure currency stability but it can be useful when coordinated with other policies and with other central banks he said
annual div class a 14 cts vs 12 cts prior annual div class b 121 cts vs 104 cts prior payable april one record march 20 note full name is bdm international inc
i can do a better job of convincing the congress to leave our door open to imports if more of our trading partners open their doors wider he told the group which included representatives from australia canada japan new zealand and the european community
the company said it is issuing the debentures with an indicated coupon range of 5 3 4 pct to 6 1 4 pct and an indicated conversion premium range of 24 26 pct
exley jr chairman and president said
shr primary 115 dlrs vs 76 cts shr fully diluted 115 dlrs vs 76 cts net 408 mln vs 271 mln revs 3696 mln vs 2632 mln nine mths shr primary 295 dlrs vs 344 dlrs shr fully diluted 295 dlrs vs 333 dlrs net 1038 mln vs 1190 mln revs 106 billion vs 8978 mln
shr 27 cts vs 20 cts net 3411000 vs 2487000 revs 347 mln vs 319 mln six mths shr 51 cts vs 41 cts net 6372000 vs 5090000 revs 681 mln vs 637 mln avg shrs 126 mln vs 125 mln
the buffer stock working group then asked icco executive director kobena erbynn who wrote up the draft compromise to flesh out details of the principles with the assistance of a representative group of delegates they said
currency fluctuations may reassert their influence on the bullion market in the near future bullion bankers samuel montagu and co ltd said in a market report
steel production 374 mln tonnes down seven pct
magnetic technologies mtcc sees improvement
he said the government could at least fix a suitable limit on the funds to be raised through such bonds by the public sector merchant bankers said the government is pressing state companies to borrow from the public by reducing financial support to them
ibm ibm forms telecommunications group
dibona said the windfall profit tax should be abolished immediately and current proposals for increased environmental regulations on acid rain and waste disposal should be not adopted
1986 net assumes all warrants exercised for the 2nd qtr only
qtly div 10 cts vs 10 cts prior pay april 24 record april 14
allegheny international inc said sunter acquisititon corp formed by first boston inc began a cash tender offer in accordance with their previously announced merger agreement for all the outsanding shares of alleghenys common stock 219 dlr cumulative preference stock and 1125 dlrs convertible preferred stock
underwriters will receive a fee of 15 basis points on the available portion of the facility and a fee of 10 basis points on the unavailable portion which could be for up to half the facility
dean foods co expects earnings for the fourth quarter ending may 30 to exceed those of the same year ago period chairman kenneth douglas told analysts
in an interview with el universal newspaper marcano said he thought us government pressure on banks had more to do with the unexpectedly speedy agreement than brazils decision to suspend interest payments
scotts hospitality inc 3rd qtr jan 31 net
producers would prefer that non member cocoa not be included in the buffer stock because if it is countries such as malaysia benefit from the cocoa agreement without joining it the delegates said
west germanys imports dropped largely because of foreign currency developments and the cheaper price of oil and led to a record trade surplus last year
have resigned and myers and morgan were named to the board
convergent technologies cvgto sees qtr loss
he said production costs had risen to 40 pct of farmers earnings from 20 pct in 1982 and lower investment had caused the area of irrigated land to fall
oper shr loss 251 dlrs vs profit 94 cts oper net loss 272 mln vs profit 103 mln revs 4642 mln vs 5046 mln nine mths oper shr loss 133 dlrs vs profit 257 dlrs oper net loss 144 mln vs profit 282 mln revs 141 billion vs 155 billion note 1987 qtr and nine mths excludes loss 411 mln dlrs or 379 dlrs per share and loss 418 mln dlrs or 387 dlrs per share respectively from discontinued real estate operations
under terms of the proposed transaction each pizza inn share can be exchanged for either three dlrs in cash plus the lesser of 14 shares of panteras common stock or 1150 dlrs market value of panteras stock or four dlrs in cash plus a unit consisting of one share of panteras stock and a non transferrable right to receive up to 055 share of panteras stock under certain conditions it said
sen
in exchange for shells participation solv ex said shell is obligated to pay it an up front royalty and a running royalty based on the operating profits of the oil sands facility
the commodity credit corporation ccc has accepted bids for export bonuses on 36000 tonnes of durum wheat to algeria the us agriculture department said
but most said that the market need not fear tighter policy either
dealing demand for gilts with coupons around 10 pct has been getting stronger the general manager of the local office of a british securities firm said
this accord may not result in an immediate boom but at least it enhances the image of the country for foreign investors but periquet said domestic and foreign investments fell short of targets in 1986
dealers noted that this was the first time bills in band four which have a maturity of between two and three months have been dealt in the market since mid february
westlb is lead manager with hambros bank ltd as co lead
each warrant may be converted into one common shares of poco at 950 dlrs per share through january 15 1989
the company reported quarterly earnings of 569 mln dlrs or 64 cts a share up from 464 mln dlrs or 52 cts a share a year ago
but the consistent behavior of all three aggregates is likely to impress the fed said ward mccarthy of merrill lynch economics inc
glickman pushes hard for 0 92 farm plan
shipping minister lord brabazon said a preliminary investigation had started into why the 7951 tonne ferry capsized and sank in little over a minute as it manoeuvred to leave zeebrugge on a routine four hour crossing to dover
net profit 510000 vs loss 5700000 revs 875000 vs 4100000 year net profit 871000 vs loss 4100000 revs 4700000 vs 141 mln
latin oil producers to meet in caracas
he said the reason for the two month extension of the only ec farm product marketing years which end during the spring months was that it would be impossible for ministers formally to agree 1987 88 farm price arrangements before may 12
28 and march 18
s and w
all equity and fixed investment flows of foreigners take place through the financial rand which is considered the main barometer of south africas attractiveness to overseas investors
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
kaneb energy partners ltd said it may be forced to omit or lower future quarterly cash distributions because of a contract dispute with two major customers and the continued slump in oil and gas prices
revenue fell to 455 billion dlrs from 491 billion in an extremely competitive and over regulated environment chairman and chief executive kevan gosper said in a statement
shr profit four cts vs loss 47 cts net profit 209000 vs loss 2164000 sales 4849000 vs 3682000 year shr loss 10 cts vs loss 52 cts net loss 451000 vs loss 2378000 sales 180 mln vs 158 mln
they pointed to two factors that may have forced banks to scramble for reserves at the end of the week
they banks like to appear to be conservative said pulcine and if a major bank puts loans on a non performing basis and the canadian banks dont there is going to be a lot of pressure from shareholders as to why one bank is considering the loans non performing and another bank is not wood gundy inc bank analyst patricia meredith said any willingness by a major brazilian bank creditor such as citicorp cci to declare its brazilian loans non performing rather than let brazil dictate settlement terms would provide a compelling example for other creditor banks
miyazawa says paris accord helping stabilise rates
for all of 1986 rowan lost 421 mln dlrs after a 476 mln dlr tax credit
commerzbank increases dividend parent net profit
zimbabwe maize output to fall 65 pct
woolworths ltd wlwas yr ended feb 1
oper shr 71 cts vs 78 cts oper net 429 mln vs 466 mln revs 2940 mln vs 2749 mln avg shrs 555 mln vs 540 mln nine mths oper shr 288 dlrs vs 307 dlrs oper net 1692 mln vs 1815 mln revs 9934 mln vs 9614 mln avg shrs 552 mln vs 540 mln 12 mths oper shr 367 dlrs vs 376 dlrs oper net 2162 mln vs 2244 mln revs 131 billion vs 126 billion avg shrs 549 mln vs 539 mln note 1987 nine month and 12 month operating net excludes charges of 269 mln dlrs and 25 mln dlrs reflecting disallowed costs of utilitys 18 pct share of nine mile point number two nuclear power plant and the abandoned jamesport nuclear project respectively
i expect this development to continue in the coming months asked about his expectations of a us european community trade war poehl said such an event would be disastrous
bank of nova scotia cuts prime rate to 8 3 4 pct from 9 1 4 pct effective tomorrow
huckaby said he has asked sugar industry representatives to think about how domestic output could be controlled either through production allocations acreage or marketing controls
first connecticut fco sets quarterly payout
shoneys inc shon 1st qtr feb 15 net
the us agriculture department made the following supply demand projections for the 1986 87 seasons in mln bushels with comparisons unless noted corn 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 acreage mln acres planted 767 767 834 834 harvested 692 692 752 752 yield bu 1193 1193 1180 1180 supply mln bu start stock 4040 4040 1648 1648 production 8253 8253 8877 8877 total x 12295 12295 10536 10536 x includes imports
credit commercial de france ccfppa reported a parent company net profit up 348 pct to 1401 mln francs from 1039 mln francs a few weeks before its denationalisation around the end of this month
us congress to look at soil program exemptions
istanbul remained at a virtual standstill today under snow up to a meter deep but shipping was moving through the narrow bosphorus waterway linking the sea of marmara and the black sea officials said
qtr ends jan 31 shr 326 dlrs vs 317 dlrs net 479 mln vs 467 mln revs 6731 mln vs 6302 mln 12 mths shr 754 dlrs vs 695 dlrs net 1111 mln vs 1024 mln revs 203 billion vs 188 billion
the payments must be completed by the end of 1987
yeutter plans trade trip to china this summer
however the situation in wheat is a different story he said
on the other hand the upside target for the yen which set a new contract high today at 0006916 in the june contract is at 0007050 horner said
italys budget ministry said last month that 1986 gdp rose 27 pct in real terms from 1985
it said preliminary results are encouraging and a feasibility study is nearing completion
intercare also said it has implemented a workforce reduction closed two medical centers and is considering additional closings as a means of reducing a working capital deficit
the bank of france will not hold a money market intervention tender today ruling out a further cut in its 7 3 4 pct intervention rate central bank sources said
properly functioning markets require standardized products
it very well could be someones interested but freedman said he doesnt believe now is the right time for wendys to be sold
louisiana weekly crop report
the law requires shipment of us goods on american ships rather than foreign vessels which are less costly
his disclosure of two of the key targets for sterling was highly unusual foreign exchange market analysts said
some 750 mln marks will be offered for immediate sale with 75 mln held back for market regulation and the remaining 75 mln placed with the railways own bank
he said that the official loans are being serviced and that this was a result of the rescheduling
it noted that its western australia hotels company had agreed to sell the parmelia hotel for 315 mln australian dlrs some seven mln stg above end 1986 book value
nz december quarter retail sales fall 132 pct
the company said unit sales of american tobaccos lucky strike filter line rose 20 pct last year which led to a gain for he lucky franchise
it suggested options for the administration to consider but made no specific recommendations
flowers industries inc said it expects lower earnings for the current year due to operating losses incurred by recent acquisitions and possible nonrecurring losses resulting from its restructuring efforts
in its weekly petroleum status report the energy department agency said distillate demand was off 79 pct in the period to 290 mln bpd from 315 mln a year earlier
as a result it said the estimated total cost of the planned smelter will be held to 450 mln us dlrs the low end of the range estimated in mid may while the cost of the first phase was cut to 150 mln dlrs from the projected 175 225 mln dlrs
no targets for volume will be set
both companies left their butane prices unchanged at 123 dlrs a tonne
in the year earlier period usage which includes hydrogenated vegetable and animal fats and other oils in process amounted to 314 mln lbs
china has issued much of its recent overseas debt in japan and has been badly hit by the yens sharp rise
qtly cash distribution 72 cts vs 72 cts prior pay may 15 record march 31
atlantis group tells sec it seeks negotiated purchase of charter crellin
ended feb 28 shr 39 cts vs 35 cts net 115 mln vs 104 mln revs 1110 mln vs 1046 mln nine mths shr 116 dlrs vs 104 dlrs net 343 mln vs 308 mln revs 3352 mln vs 3200 mln avg shrs 267 mln vs 296 mln
moodys said the magnitude of beneficials 1986 operating losses from write downs of discontinued businesses has weakened its financial position
the changes will in time have an extremely positive effect on the marketplace
like dated interbank deposits were quoted today at 6 3 8 1 8 pct 1 8 point higher than last saturday
brown inc said it has declared a three for two stock split payable may 29 record may 22
mexico might supply ecuadors south korean market
kidder peabody is co managing the issue
he said theres relatively little that congress can do to legislate a solution to the trade problem protectionist legislation will only provoke retaliation by us trading partners yeutter said
it said major factors contributing to the third quarter improvement were an 11 pct gain in unit volume by consumer foods continuing good profit growth at red lobster usa and strong performance in specialty retailing
exports rose to 9984 mln dlrs from 8892 mln revised from 8895 in january and 9032 in february 1986
meridian bancorp inc mrdn sets regular payout
siew said the talks starting on april 14 would cover us calls for taiwan to open its market to american products purchases of major us machinery and power plant equipment import tariff cuts and protection of intellectual property
the stock dropped six dlrs in three days after boesky sold his position and has never recovered montgomery said
these realities they said support the henley groups statement that its santa fe stake is only an investment
bally manufacturing corp said it completed the acquisition of the golden nugget casino hotel in atlantic city new jersey from golden nugget inc
the 500000 mt per year plant will be constructed at jose in eastern venezuela and fed by butane produced at pdvsas eastern cryogenic complex
many economists now believe that the dollar has fallen far enough to ease the trade deficits drag on the us economy
following lower sugar crops in the past two years analysts said turkey needs to import sugar now if it is to continue filling these export contracts and may need to buy more
corn products has put a 650 mln dlr price tag on the installations and beghin say estimates that acquisition of the haubourdin plant would cost between 80 and 100 mln dlrs vernes said
however miyazawa failed to outline the size of the japanese economic package in his meeting with baker today because the japanese 1987 88 budget has not been authorized by the diet or parliament despite the new fiscal year which started april one the officials said
yankee cos incs eskey inc esk subsidiary said it reached an agreement in principle to sell its eskeys yale e
west german banks slowly cutting key savings rates
it made the statement after talks with canadian officials about press reports and speculation in canada that some exporters were not paying the charge
japan us interest rate differentials which currently look wide enough mean nothing in the absence of dollar stability said kawakami
preussag said rationalization measures already introduced would not begin to take full effect until this year
swiss consumer prices rise one pct in march
the company said the transaction involves the payment of 20 mln dlrs in cash a non interest bearing payment of 113 mln dlrs in four equal instalments over four years and two promissory notes guaranteed by an affiliate of the purchaser
consumers and a small group of producers argued that objective criteria should be used to define export quota shares which would have meant a reduction in the share of brazil the worlds leading producer
pay date is may 18
lammers queens commissioner for the province of flevoland will not act as a mediator but will draw up an agenda and procedures for meetings between the employers and unions on a work practice agreement and proposed redundancies
cost which has already reached around 65 mln european currency units would be a major consideration
it holds 199 pct of borg warners stock
in 1986 exports totalled 224 billion dlrs and imports 129 billion
in a statement wilson said the action would permit the government to proceed with its debt program during a period when there was not sufficient borrowing authority which is granted by parliament to cover the governments needs
bil said in a statement it will review events on a daily basis
yugoslav prime minister branko mikulic unveiling a new draft economic program said yugoslavia would cut repayments on its almost 20 billion lr hard currency debt to bring them in line with its hard currency earning capacity
but he added that the strikes which began on january 19 in protest against plans for 800 redundancies by 1990 could resume at any time before may 7 if the employers made any moves to re apply for permission for the redundancies
but they allege talks broke off because painewebber and ammeen could not satisfy edelman and dominion with a written statement that they did not provide inside information
cadillac fairview corp ltd said it received proposals to acquire the company following its announcement last august that it had retained investment dealers to solicit offers for all outstanding common shares
time incs chief financial officer thayer bigelow told security analysts the company is comfortable with wall street estimates that 1987 earnings will be in a range of 375 dlrs to 425 dlrs per share
growers fear they may find more empty pods and have to further reduce their forecasts of total yield
woolworth uk says growth prospects exciting
a group controlled by new york investor saul steinberg told the securities and exchange commission it has acquired 168500 shares of pizza inn inc or 502 pct of the total outstanding common stock
but he said he welcomed mercantile and general trading profits in 1986 and was optimistic about both that and the international division
wheat stocks may 31 1987 projected at 1848 vs 1877 last month
we are in the market for grains but it is up to the united states to be the seller to offer soviets competitive prices he said in an interview
dna said mize will replace its current chairman donald holbrook who will remain on the board
however the rate of this growth can be affected positively or negatively through government action or inaction lichtblau said
sigma research onc sigr 2nd qtr dec 31 loss
dome rose 1 4 to 1 1 8 on the american stock exchange
about 486 mln dlrs if affected
even in the thorny area of access much depends on us commitment as well as on japanese openness some said
the garuda indonesia airways dc 9 crashed yesterday on a domestic flight while carrying 37 passengers and eight crew members an airline spokesman said
the four years mature march 31 1991 with the seven years due april 15 1994
rainbow corp ltd said brierley investments ltd bil is trying to disrupt rainbows planned merger with progressive enterprises ltd rainbow chairman allan hawkins said in a statement in our opinion bil have deliberately tried to create anomalies in the market prices of rainbow and progressive shares since the merger was announced the merger announced in february involves the formation of a new company astral pacific corp ltd which rainbow and progressive shareholders will enter into on a one for one share basis
japan line said then that the yens steep rise and the world shipping recession had hit the company hard
the company which announced the split last week had said the record date for the split is may 29 1987
lyng said he had no knowledge of how much us grain moscow would buy this year
uk money market gets 114 billion stg early help
spain had a 68 mln dlr current account balance of payments surplus in january compared with a 556 mln deficit in december and 370 mln surplus in january last year bank of spain figures show
international proteins corp pro year net
tankoku introduced in february 1986 were designed as a key short term instrument to promote internationalization of the yen
siebe plc of the uk said it completed the acquisition of ranco inc following approval by ranco shareholders
tierco tier sells note
an exchange official told the ministry of international trade and industry is expected to approve the the new brokers by mid june
transcontinental gas pipe line corp said that it is not willing to accept the federal energy regulatory commissions conditioned approval of its proposed offer of settlement dated may 13
the united states and japan remain at odds over opening the closed japanese markets to us goods
japan yesterday in an effort to ward off us action ordered a cutback in semiconductors production as a way to force prices up and end the dumping
lu ming jen economic professor at soochow university told the decision came a little bit late
the shareholders of illinois cooperative futures co the futures trading arm of many midwest farm cooperatives for more than 25 years will vote wednesday on its possible dissolution
shr 42 cts vs 59 cts net 734659 vs 1033309 nine mths shr 92 cts vs 169 dlrs net 1629719 vs 2971144 note 1987 nine mths net includes a loss of 290000 dlrs on sale of securities and nine recurring charge of 32713 dlrs for write off of fslic secondary reserve
ecuador today suspended its crude oil exports indefinitely due to an earthquake last night that damaged pumping and crude transport installations an energy and mines ministry statement said
the director doresy gardner resigned in a march 10 letter to the purolator board which was included in a filing made by the company to the securities and exchange commission
the issue guaranteed by cofide compagnia finanziaria de benedetti spa of turin italy is convertible into shares of cir spa compagnie industriali riunite at an indicated premium of five pct
the brazilian delegate said several producers requested the meeting but brazil was not among them
decorator industries inc dii 4th qtr net
pennwalt psm to make acquisition
taihei kogyo issues 40 mln sfr five year notes
additional moisture was needed in some areas
in a vancouver address crosbie said versatile pacific shipyards inc was the low bidder to build the arctic class 8 icebreaker but the company must meet certain financial and engineering conditions before the contract is awarded
the foreign exchange rate was set at 15440 yen to the us dollar
the company said it has not been able to operate the businesses being discontinued in akron profitably enough to justify the large investment that it has in them
greater financial sophistication is needed coupled with more diversified capital market instruments and a change in the disclosure requirements on company accounts he said
ameritrust said it was advised that the clevebaco group has filed an application with bank regulatory authorities seeking permission to acquire up to an additional three mln shares of ameritrust common stock
but others said it may instead have given payment guarantees to allow for the shipping of an old contract to go ahead
it said the slate of key competitors in bankers trusts principal markets shifted as the bank repositioned itself into the global institutional markets
raytheon rtn net rises on operations
aramco corp has accepted japanese nominations to lift a higher proportion of arab heavy crude oil under term contracts in july oil industry sources said
affirmed were avco financials a 3 senior debt baa 2 senior subordinated debt and baa 3 junior subordinated debt
since then despite massive bank of japan intervention and periodic market frights about further g 5 concerted action the dollar trend has been down down down
bankers officials and academics at a conference organized by the massachusetts institute of technology stressed the importance of proper economic policies and increased private investment
it would pay new loans at current market rates
nationwide said a surge in claims from personal auto insurance and the volatile commercial liability coverages during a period of unprecedented sales growth generated the loss
police said the five arrested on charge of fraud today included hiroshi ishikawa 47 former toyota shoji president and a sixth former executive was placed on a wanted list
should there be any significant change in market prices the committee would immediately call for an extraordinary meeting of the conference with a view to deciding on the necessary opec production levels during the second half of the year which would secure the desired market stability the conference reiterated the necessity of member countries strict adherence to the agreement signed in december 1986 both in terms of official price and national production levels
the prospect of bearish data did not trouble the bond market much yesterday with the 30 year treasury bond slipping just 7 32 to 99 28 32 for a yield of 751 pct
usda reports corn sold sold to unknown
allied lyons maintains control of hiram walker gooderhams board of directors and has total responsibility for its management
traders said palm oil production in indonesia this year had been below expectations and current stocks were low
joe minerals corp
international sugar pact to be renegotiated
wiener enterprises inc wpb year jan 31 net
in the industrial countries gross national product a measure of all goods and services was expected to decline to 23 pct this year compared with 24 pct in 1986 the imf said
iranian foreign minister ali akbar velayati warned that iran would combat any superpower intervention in the gulf
datron corp said it agreed to merge with ggfh inc a florida based company formed by the four top officers of the company
stanadyne inc said it has acquired a substnatial majority of ambac spa s outstanding stock from ail corp the successor to united technologies corps utx diesel systems division for undisclosed terms
the rains replenished formerly low soil moisture reserves with reserves in all areas now rated good the report said
and on wednesday the long term vision of the ecu as europes common currency took a step nearer to becoming reality when belgium minted the worlds first ecu coin
brougher said it expects to realize a net after tax gain of approximately 330000 dlrs or 12 cts per share from issuing stock of intercontinental
but some brokers said others are sceptical and expect that the expiration of golden handcuff pacts which tied partners to their firms for a period after incorporation could cause a massive talent drain
saudi arabia buys rbd palm olein
gaf gaf debt may be downgraded by s p
qtly div four cts vs four cts pay april 3 record march 23
the contract designated by the symbol hf would trade from 0900 to 1315 cst
the federal reserve is expected to enter the us government securities market to add temporary reserves economists said
the commerce department had held that unnecessary restrictions impeded us exports while the defense department said current controls should be retained but better administered
1987 3rd qtr and nine mths earnings per share reflect payment of dividends on companys two series of preferred stock amounting to 22 mln dlrs
ltv also said it agreed to reopen its offer contained in the tentative agreement reached with the unions negotiating committee as part of a plan to resolve problems through local discussions
general devices inc gdic year net
cash from operations dropped to 50 mln dlrs from year ago 5420 mln dlrs and unrestricted cash balance declined to 2020 mln dlrs from 4660 mln dlrs
royal dutch shell us earnings sharply lower
the treasury would not comment on the bank of englands market operations but currency traders reported moderate bank of england intervention to curb upward pressure on the pound today
earlier this year t
imports of vegetable fats including palm oil rose to 445400 tonnes from 362500 and exports to 151500 from 139800
for now the strategy appears to be working
cbt hopes to launch the first us night trading session at the end of april offering treasury bond and t note futures and options on the two futures contracts between 1700 and 2100 hrs central us time 2300 to 0300 hrs gmt
the company said the start of the tender offer and the calling of the special meeting are conditions of the settlement and completion of the tender and merger are conditioned on final approval of the settlement
philip crosby associates inc said its fourth quarter and annual earnings report will be delayed two more weeks
traders said this pushed lead prices higher in early morning trading as the market is currently sensitive to any fundamental news due to its finely balanced supply demand position and low stocks
braddock and his sector heads made the following more specific predictions cost of funds and net credit loss levels in the us bankcard unit will taper off in coming years from 1986s relatively inflated levels
pickens told he expects the rig count to drop to below 600 before recovering
the industry has called for the end of all discriminatory secondary taxation of petroleum citing them as major disincentives at a time of low oil prices
euroyen issues sank slightly in line with prices on domestic japanese bond markets but recovered in late trade as the yen soared
gas output of 59 billion cubic metres and natural gas liquids output of around one mln tonnes in 1986 are expected to be maintained in 1987 he said
franklin resources ben says net may double
marine midland banks inc 1st qtr 174 dlrs vs 189 dlrs
australia may not be in the best economic position but there arent too many other countries where youd want to put your money the stronger australian dollar was also attracting investors taking advantage of an appreciating currency against the volatility of the us unit analysts said
shr 34 cts vs 22 cts net 1280185 vs 875692 revs 190 mln vs 158 mln assets 5856 mln vs 4691 mln
last tax season the average cost for each return in the us amounted to 4805 dlrs and 4573 dlrs worldwide bloch said
that is 935 basis points above the yield of comparable treasury securities
year ended march 31 group shr 3398 yen vs 3910 net 2116 billion vs 1996 billion current 4523 billion vs 3287 billion operating 7717 billion vs 6390 billion sales 61696 billion vs 52788 billion note the company said the 376 pct increase in 1986 87 group current profit from a year earlier was mainly due to a drop of two billion yen in interest payments
ningbo handles crude oil exports and transhipments of coal from north to south china and imports include fertiliser and soda ash and iron ore from brazil and australia
a report by the stockbrokers said that on a new field not paying prt due to its small size the relief would directly benefit in prt saving on an existing field
french state owned aluminium and special metals group pechiney said it has signed two protocols of intent to set up joint ventures with the soviet union
the price of sugar had not changed in 20 years the official press has said
negotiations were going on to determine an amount of compensation for seelig he said
rexham said it does not welcome the proposal but added its board will study the offer and respond in due course
the rise reflected recovery in almost all sectors after an exceptionally cold spell in january the bureau said adding that the highest rises were seen in the forest chemical and metal industries
indications are that usda accepted algerias bid for 75000 tonnes of hard red winter wheat but rejected bids for the remaining 225000 tonnes under its export bonus tender us exporters said
chrysler financial corp a unit of chrysler corp is raising 250 mln dlrs through an offering of notes due 1992 with a 7 5 8 pct coupon and par pricing said lead manager salomon brothers inc
an eventual oil import fee in the united states will make no difference to champlin petroleum corps joint venture agreement signed today with petroleos de venezuela pdvsa champlin chairman william adams said
the euronotes will have maturities of one three and six months and be sold in denominations of 500000 and one mln dlrs while the commercial paper will have maturities of up to 183 days
twa filed a 13 d with the securities and exchange commission reporting its holding of 4023200 shares of usair
delegates to the three day congress will be considering 26 resolutions concerning various issues including the future direction of farm policy and the tax law as it applies to the agriculture sector
the bank of england said it had invited an early round of bill offers from the discount houses after forecasting a shortage of around 950 mln stg in the money market today
tokyo is expected to propose a joint us japan investigation of american claims that japanese companies are dumping cut price chips in asian markets
after the sale cyclops will retain its specialty retailing business and change its name to silo inc said dixons
indeed us treasury secretary james bakers comment on sunday that the february currency pact had not established dollar targets was read by the market as a signal to sell the us currency and kicked off the latest retreat
profit from participations 11 mln vs 15 mln
discovery west corp said it plans to sell convertible subordinated notes in a principal amount of between four mln and seven mln dlrs by way of a private placement through first marathon securities ltd
currency instability will not last sumita
he said no damage was reported unlike in ecuador where indefinite force majeure was declared on crude exports
northgate exploration ltd said hourly paid workers at its two chibougamau quebec mines voted on the weekend to accept a three year contract offer and returned to work today after a one month strike
shr primary 179 dlrs vs 172 dlrs shr diluted 139 dlrs vs 134 dlrs net 121 mln vs 117 mln nine mths shr primary 556 dlrs vs 441 dlrs shr diluted 430 dlrs vs 374 dlrs net 373 mln vs 291 mln assets 392 billion vs 383 billion loans 305 billion vs 299 billion note 1987 qtr and nine mths includes gain 6016000 dlrs and 187 mln dlrs respectively from utilization of net operating loss carryforward
moodys investors service inc followed suit cutting most of the debt of texaco and its units to caa
it said the extension was subject to further extensions by the board and is conditioned on no person aquiring beneficial ownership of 20 pct or more of gencorp prior to april six
wonnacott said also that a us canada pact in such areas as export subsidies and the creation of a dispute commission could set an example for the current attempt by gatt to write new and more liberal global trading regulations
in its international weather and crop sumary the agency said mixed rain and snow covered greece
the world bank by its established policies cannot use its resources to finance the transfer of assets from one group to another
shr loss six cts vs profit 19 cts net loss 166000 vs profit 580000 revs 3772000 vs 5545000 year shr loss 13 cts vs profit 52 cts net loss 391000 vs profit 1425000 revs 154 mln vs 166 mln note 1985 year figures pro forma for purchase accounting adjustments resulting from march 1985 reeacquisition of company by its original shareholders before august 1985 initial public offering
this agreement serves the interests of lucky stockholders by avoiding the significant cost of continued litigation and the accompanying demands on management time lucky stores chairman john lillie said in a statement
colombian finance minister cesar gaviria also talking to reporters at the end of the weekly national coffee committee meeting said the positions of brazil and of the united states were too far apart to allow a prompt agreement on quotas
the mykon wave arrived in the port recently with about 18300 tonnes of bulk sugar from maputo in swaziland
private analysts have said that the financing of large us budget deficits requires heavy capital inflows from overseas investors through purchases of us treasury and to a lesser extent other us securities as well
poco petroleums ltd pocto 2nd qtr net
appleton said he bought the stock for 116554 dlrs for investment purposes
the april rate is up from marchs 5 7 8 pct and reflects the interest rate charged ccc by the us treasury the department said
the us mint said it is seeking offers on 3701000 lbs of electrolytic copper and 629000 lbs of electrolytic cut nickel cathodes or briquettes that it intends to purchase
oxoco inc year loss
the world bank is prepared to play a more aggressive role in promoting third world development bank president barber conable said in a magazine interview
the energy security issue should be considered when environmental issues are considered martin said
it was a pointed reminder to japan to do something about the trade issues the source said of the dollars fall against the yen
alpha said it plans to concentrate on the high frequency portion of the electromagnetic spectrum
remarks by japans prime minister yasuhiro nakasone that last months g 6 meeting agreed to stabilize the dollar above 150 yen have come too late to influence currency trading dealers said
london international group plc lonll said it had agreed to sell its haffenden moulding co ltd unit to melton medes ltd for 21 mln stg
but the buffer stock can only buy 15 pct malaysian cocoa as malaysia is not an icco member while purchases of nearby cocoa can only reach 40 pct in any one day which forces the buffer stock to buy some intermediate and forward shipment material
temple inland jumped 2 7 8 to 73 and international paper 1 1 4 to 91 1 4
pennzoil shares were indicated at 85 to 87 dlrs compared with fridays new york finish of 92 1 4 dlrs
saudis drop condition for oil sale to brazil
in early december nomura securities international inc became the third and so far last foreign securities firm to manage a us offering
the proposed contract would provide for the delivery of 48000 lbs plus or minus two pct of bulk hfcs 55 a liquid food and beverage sweetener produced through processed corn starch by corn refiners
a british naval source in the gulf said today iran had test fired its new silkworm missiles and set up launching sites in the area
transform said its fourth quarter profit was revised to 305082 dlrs or two cts a share from the previously reported 580955 dlrs which left the company with a fiscal 1986 loss of 249814 dlrs or two cts a share instead of the reported 26195 dlrs profit
borrowers from the system own some four billion dlrs in stock that could be jeopardized by the mounting losses of the farm credit system
ames department stores inc said duane wolter has been named executive vice president and chiedf financial officer succeeding as chief financial officer ralph m
wallace resigned as directors
earlier today us treasury secretary james baker said brazil should come up with a new economic plan if it hopes to get additional assistance from commercial banks and others
the usdas weekly export inspection report is expected to show steady corn and wheat exports and lower soybean exports according to cbt floor traders forecasts
foreign direct investment in the united states increased 144 billion dlrs in the fourth quarter compared with 56 billion dlrs in the previous quarter because of stepped up acquisitions the department said
proposals for a secondary market for the resale of farm real estate loans similar to home mortgage markets is gaining support in congress and among rural lenders and could be established this year congressional and financial sources said
the federal reserve appears to have intervened in the us foreign exchange market to buy dollars against yen this morning currency dealers said
qtly div 44 cts vs 44 cts pay april 30 record april 4
the dollar was at 14110 yen at midday against friday closes of 14235 45 in new york and 14135 here
allegis officials were unavailable for comment
iea says opec february crude output 161 mln bpd
american federal colorado afsl halves payout
revlon said its board of directors unanimously approved the merger agreement
the whole game is bringing out new products and improving the old ones analysts say the chemical industrys biggest customers automobile manufacturers and home builders that use a lot of paints and plastics are expected to buy quantities this year
the dark northern spring wheat is for shipment may 15 june 15 1987
the venture expects to bring into production a gold silver lead zinc ore body on admiralty island alaska containing about 3500000 short tons of ore assaying about 018 ounce of gold 240 ounces of silver 97 pct zinc and 39 pct lead per short ton hecla said
they included a 458 pct increase in domestic orders to 157 billion marks
bull shares were quoted at a close of 5545 francs on the paris stock exchange today
imf managing director michel camdessus paid a brief weekend visit to the ivory coast during which he discussed the countrys economic difficulties with president felix houphouet boigny
it was the fourth consecutive year of profit increases for the new york based retailer which was founded over 100 years ago
opec differentials not seen posing major problems
the group includes brookehill equities inc a brokerage firm and moore grossman and derose inc an investment advisor
finance ministry officials declined comment but said the ministry has been aware of growing calls from securities houses for 10 year bond auctions
gross profit for 1986 reached 3405 mln francs with 276 mln francs subtracted for ordinary depreciation
qtly div 11 cts vs 11 cts prior pay june 15 record may 15
info data inc said it will acquire usa outdoor advertising inc of jacksonville fla in exchange for stock
timber realization a limited partnership formed to dispose of timberlands and related properties transferred to it by the masonite corp said that when this sale is completed the partnership will have received about 152 mln dlrs in cash and notes from the sale of its properties since december 23 1986
will it work he asked
note attributable net loss is after tax 1004 mln dlrs vs 1859 mln interest 8236 mln vs 6594 mln depreciation 6477 mln vs 3574 mln and minorities 357 mln vs 755 mln but before net extraordinary loss 122 mln vs loss 391 mln
continental medical systems inc said it plans to file with the securities and exchange commission a registration statement covering about 25 mln dlrs of convertible subordinated debentures
congressional observers say the bills are aimed mainly at japan taiwan south korea and a few other nations with large annual trade surpluses with the united states
the bank bought 176 mln stg of band two bank bills outright at 10 5 16 pct and 13 mln stg of band one bank bills at 10 3 8 pct
mti quoted a government spokesman saying last decembers wage freeze decree would expire on april 1 as envisaged
us corn exports represent only about five pct of the canadian market
1986 net also includes gain on termination of pension plan of 2614000 for qtr and year and tax loss of 3605000 for qtr
the proposal provides that reph would become a wholly owned subsidiary of alpha and that the existing reph common stockholders would become stockholders of alpha it said
joan goodman an analyst with pershing and co also said american express could determine to sell shares to the public
in yen futures the bottom of the dollars range would be equivalent to 0007100 to 0007150 in the june contract
noranda copper mine fire caused heavy damage
usda estimates ussr cotton crop
the spokesman said the fed intends to purchase bills maturing in up to six months
somerset savings bank sosa 4th qtr feb 28 net
shr 33 cts vs 27 cts net 3588000 vs 2981000 revs 378 mln vs 316 mln nine mths shr 72 cts vs 76 cts net 7843000 vs 8344000 revs 1033 mln vs 908 mln
the cumulative current account surplus for january and february 1987 totalled 113 billion marks against 114 billion marks a year earlier the statistics office said
moscow is officially neutral in the war between iran and iraq
the payment date is april 3
he said that represents a total sale worth 600 mln dlrs
electric power prices fell 03 pct last month after a 13 pct january decline and were down 36 pct from a year ago
macmillan bloedel ltd said it will redeem all outstanding nine pct series j debentures on april 27 1987 for 349 mln us dlrs plus a premium of one pct and accrued and unpaid interest
woolworth holdings plc wlukl which earlier announced a 1986 pre tax profits rise of 42 pct over 1985 said its prospects for growth were very exciting
the brazilian government announced in february its intention to stop paying interest temporarily on its long term public and private sector commercial bank debt
they expect hang seng to pay a final dividend of 137 dlrs for a total of 175 dlrs for the year against 160 in 1985
british telecom 3rd qtr ended dec 31
he told the sec that while he is trying to buy or acquire the firm he still may only hold the shares for an investment
the department said the customs service reported that weekly and cumulative imports are reported on an actual weight basis and when final polarizations are received cumulative import data are adjusted accordingly
trading performance improved at wholly owned subsidiaries rtz borax ltd rtz cement ltd rtz chemicals ltd and rtz pillar ltd
cominco and tecks 22 pct owned lornex agreed in january 1986 to form the joint venture merging their highland valley copper operations
pep boys pby sets split raises quarterly
he said cavendish will have seven billion dlrs of assets and will be almost debt free with 340 mln dlrs of liabilites
but he said the gatt round is a long term endeavour
considerable uncertainty surrounds the outcome of todays ec white sugar tender traders here said noting it remains overshadowed by european operator threats to move over 800000 tonnes of sugar into intervention
but he said that while easing the controls would help reduce the reserves it would not do so substantially in a short time
it said the loan consists of a credit line to ljubljanska banka ljubljana lbl to finance a project expected to improve industrial competitiveness and reduce energy imports easing the countrys current balance of payments difficulties
investor group dumps silicon slcno stake
shr loss 48 cts vs profit 77 cts net loss 3923000 vs profit 11551000 year shr profit 180 dlrs vs profit 232 dlrs net profit 30171000 vs profit 36667000 loans 338 billion vs 317 billion deposits 381 billion vs 328 billion assets 555 billion vs 478 billion note full name western savings and loan association
there will always be a potential risk of breakdown in international cooperation without a budget deficit cut
italys overall balance of payments showed a deficit of 3211 billion lire in may compared with a surplus of 2040 billion in april provisional bank of italy figures show
china is not a desperate buyer now
safety kleen sk to buy mckesson mck unit
caricom leaders are attending their annual meeting and high on the agenda is how to stop the decline in inter regional trade which dropped by a third last year
flowers industries flo sees lower year net
world bank head says brazil moratorium temporary
the third bond in the package is a seven year five billion yen bond with a 495 pct coupon priced at par led by the norinchukin bank
siemen said it will dispute various matters in the financial statement issues and other matters it said
because the banks want to isolate hard line brazil by clinching a deal with argentina as soon as practicable bankers said the argentine package is likely to be along the established lines of the baker plan
we strongly urge our shareholders not to tender their shares to waste management said chairman l
instead the administration scaled back the offer to include only the soviets
american quasar petroleum co said it completed its previously announced plan of reorganization
summit said it intends to actively seek acquisitions to increase its asset base
the dollar is likely to stay within a range of 180 to 184 marks said gisela steinhaeuser senior dealer at chase bank ag
shr 25 cts vs 36 cts net 14 mln vs 14 mln revs 569 mln vs 351 mln year shr 86 cts vs 75 cts net 47 mln vs 30 mln revs 2014 mln vs 1400 mln note1985 4th qtr includes 99000 loss from carryforward
resorts international gets buyout proposal from ksz co inc
denmark has seasonally low catches with 72 pct meal offered at 315 crowns per 100 kilos cif north european ports for april oct deliveries
emery air freight corp topped a leveraged buyout offer for purolator courier corp by about 40 mln dlrs but wall street is reacting as though another offer may surface
kelman said a revaluation of csrs investment in delhi to net realisable value as of today csrs annual balance date will result in an extraordinary loss of 97 mln dlrs
total enrollment in the first three years of the program is only 89 mln acres so the sharp increase expected this year has underpinned new crop corn futures all week
it said both countries faced heavy debt service obligations and low per capita income adding the solution of the countries debt problems would take a number of years
magellan corp said it has entered into a letter of intent to acquire balzac investments inc in a transaction that will result in former balzac shareholders owning about 83 pct of the combined company
goh said local banks want to restore the prime to 6 1 2 pct the level at beginning of 1987
olson chairman
the following table lists the rate of payments in cts per lb to growers and the quantity covered in short tons recoverable raw sugar under the administrations proposal to compensate sugar growers with targeted payments
maturities on the certificates will be between seven and 365 days
us money managers may lean to stocks vs bonds
the us agriculture department estimated canadas 1986 87 wheat crop at 3185 mln tonnes vs 3185 mln tonnes last month
the division conducts rail operations over about 2000 miles of railroad in minnesota wisconsin michigan and illinois
under the rescue scheme for asahan in which 911 billion yen has been invested indonesia will also extend another 32 billion yen to the company
moodys investors service inc rates the issue a 2 compared to a aa minus rating by standard and poors corp
pursuant to the sale ual exercised its option to substitute cash for 200 mln dlrs of debentures and 55493 shares of common stock transworld liquidating said
eliminations of business conducted between the companys industry segments contributed two mln dlrs to fourth quarter 1985 profits but did not affect the 1986 quarter
it said completion of the transaction would give knoll 15 pct ownership in american savings
gulf cash barge basis levels jumped two to three cents this morning on the rumors which were expected to boost futures prices on todays open
morgan grenfell group plc said its 1986 pre tax profits were lower than forecast because of depreciation in the value of its guinness plc guinl shares and because of securities trading losses in the us morgan chairman lord catto said the losses on the groups seven mln guinness shares in addition to a 35 mln dlr loss on its risk arbitrage operation in new york depressed profits some eight mln stg to 822 mln
we are certainly happy with the transaction
westpac launched the facility early this month at 200 mln dlrs but soon reduced it to 100 mln dlrs and amended the terms due to the markets cool response
the bank of japan bought a small amount of dollars shortly after the opening at around 14530 yen dealers said
gatt economists said trade expansion would slow this year because of slower growth forecasts in japan and some west european nations as they adjust production and workforces to a low dollar risk of higher us inflation concerns over third world debt management and looming protectionism
adsteam said it sees 1987 88 as a year of reconstruction and consolidation with the capital base boosted by the issue
ongpin told reporters after a meeting with businessmen the government was planning to issue between 100 and 150 mln dlrs worth of pins at a discount of about 125 pct this year
industrial equity pacific ltd iep the hong kong listed unit of brierley investments ltd bryawe said it has lifted its stakes in british oil company ultramar plc umarl and us firm ogelbay norton co iep told the stock exchange it now holds 3603 mln ultramar shares representing 1307 pct of the issued capital
shr 18 cts vs 14 cts net 556036 vs 403945 sales 156 mln vs 136 mln avg shrs 3132555 vs 2934285 year shr 60 cts vs 48 cts net 1805229 vs 1400247 sales 601 mln vs 523 mln avg shrs 3012917 vs 2940219 note 1985 share data adjusted to reflect three for two stock split effective june 30 1986
ongpin said manilas 7 8 margin meant the philippines would pay about 100 mln dlrs a year in interest when its grace period ended
sri lanka has 508000 acres planted with rubber trees
under the agreement announced last month ferruzzi acquired all the equity and assumed subordinated term debt of about 195 mln dlrs in a transaction valued at about 370 mln dlrs
commerzbank unit issues sterling eurobond
the cocoa is believed to have been entirely made up of second hand material they added
us diplomatic missions on high alert over gulf
the philippines bank advisory committee meets tomorrow to discuss its response to a novel proposal by finance minister jaime ongpin to pay part of the countrys interest bill with investment notes instead of cash bankers said
expanding global links between futures markets mean that the singapore international monetary exchange simex must add chicago and london to its list of rivals banking sources said
the yen is trading at around 15370 to the dollar
he told a news conference that rates in the us japan west germany and switzerland were near their lows
given an average yield of 35 tonnes per hectare national production would be around two pct higher than in the previous season at just above 16 mln tonnes it said
this is a dramatic shift from just a few months ago when analysts were saying the ussr might not buy any us corn for the first time in 15 years
baker says us making progress reforming iadb
argentine crude oil production was down 108 pct in january 1987 to 1232 mln barrels from 1381 mln barrels in january 1986 yacimientos petroliferos fiscales said
the warrants are exercisable from may 20 1987 until april 20 1992
they said brazil would likely resume interest payments by the banks fiscal year end on october 31 thus allowing banks to recoup their lost interest income
south koreas m 2 money supply rose 039 pct to 339920 billion won in february from 338584 billion in january when it fell a revised 004 pct from december provisional bank of korea figures show
a fairly tight balance now appears to have emerged
it said the new areas of weakness are west germany and the smaller european countries it influences and japan hardest hit by currency appreciation this year
much of the disposal strategy aimed at concentrating activities on core businesses had now been completed he noted
the suit charged that softklones mirror software product violated the copyright of microstufs crosstalk program digital said
strong demand for us corn in japan usda
the investor group that has agreed to buy computerland corp will likely take the leading personal computer retailer public or sell it to other investors industry analysts said
only two of the oil majors had managed to make a profit in the period with shell oil being one of them
the aim for 1987 was for the same real growth in gdp but a drop in the internal contribution to 45 pct with the negative component of the external sector trimmed to 15 pct he said
total deposits rose to 1755 billion nz dlrs in february compared with 1718 billion in january and 1361 billion in february 1986
the hongkong and shanghai banking corp hkbhhk is likely to show a rise in profit of between 10 and 13 pct for 1986 reflecting stronger than expected loan growth share analysts polled by said
tomorrows surplus is attributable to government tax allocations to local governments and public entities
full terms will be announced either later today or tomorrow morning
qtly div 10 cts vs 8 1 3 cts prior pay april 21 record march 20 note interchange financial services corp
this is the lmes first dollar contract and non european delivery point and the board and committee are looking at singapore as a delivery point for other contracts
the plan covering swaps forward contracts and options involving interest or exchange rates complements proposals agreed in january between the two central banks to make commercial banks in the us and britain subject to similar standards for measuring capital adequacy the proposal said
producers plan to hold consultations on quotas and then may set a date for a formal producer meeting but plans are not fixed he said
the kansas city commodity credit corp office is preparing a wheat catalogue containing roughly 300 mln bushels scheduled to be released in the next two to three weeks a ccc spokesman said
coopervision said furthermore until the entire net cash proceeds from the recent sales of several of our businesses are employed to reduce indebtedness make strategic acquisitions and or are otherwise employed in relation to a possible recapitalization of the company recovery of net income will be held back by the loss particularly of the tax income of the ophthalmic pharmaceutical business sold to johnson and johnson
s and p cited gafs 32 billion dlr acquisition offer for borg warner corp bor pro forma debt leverage would rise to nearly 90 pct assuming total financing
moodys investors service inc said it may downgrade 12 billion dlrs of chrysler corp and unit debt due to the deal
but it also said it is investigating the possibility of seeking to influence the composition of the management of the company and may increase its stake
usda to reduce citrus estimating program
without the tax benefit third quarter net income would have been 1276 mln dlrs up 16 pct or 174 mln dlrs from the third quarter of 1986
it said that by sustaining its growth momentum these numbers could more than double by the end of the year
he also sees residential construction declining mostly for multi family housing units
malaysias state oil company petronas will cut oil production to 420000 barrels per day bpd from may 1 trade sources said
autospa lube to buy control of cardis cds 
photronics corp phot year feb 28 net
the second one billion franc variable rate tranche is led by banque indosuez credit lyonnais and ugp with indosuez as book runner
other institutes and economists have recently revised their forecasts for german 1987 growth to around two pct
the refinery processes all platinum metals of rustenburg platinum holdings ltd the worlds largest platinum producer
he also suggested that the arctic national wildlife refuge in alaska should be opened up for leasing to oil companies dibona said
separately the federal home loan bank board said victor federal savings and loan association of muskogee okla was placed into receivership
amcs toledo ohio jeep plant has 1850 hourly workers on indefinite layoff while its kenosha wisconsin car plant has another 2250 on layoff
news today including opec president rilwanu lukman statement that opec february production did not exceed its official quota of 158 mln barrels per day helped bouy prices traders said
they said the venture will be renamed shin caterpillar mitsubishi ltd and capitalised at 23 billion yen
william reynolds describing the offer general partners said it was willing to negotiate terms of the offer and was prepared to meet as soon as possible
all of us are concerned daily with the fact that the tokyo market is growing that japan is becoming one of the three major financial markets in the world and in my personal opinion i think it would be a very big mistake to put a damper on this positive growth or developments by imposing such a tax hofer said
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
the seasons sunflowerseed production is now forecast at 21 mln to 23 mln tonnes against 22 mln to 24 mln forecast last week and down 439 to 488 pct on the 1985 86 record of 41 mln
fed sets one billion dlr customer repurchase fed says
china expects its 1987 grain harvest to be 397 mln tonnes eight mln tonnes short of its target the new china news agency quoted a state statistical bureau spokesman as saying
japanese finance minister kiichi miyazawa fuelled speculation about the amount of fluctuation the authorities are prepared to tolerate by saying that the current yen level is still inside the range agreed on in paris in late february
the economists said the service sector should grow as the government stimulates domestic demand under its program to transform the economy away from exports
but german banking sources said concern the bank had to take a hefty writedown for its unplaced fiat stock had weighed heavily on its share price
the company said it granted the special bonuses which take effect only if an executive is fired within two years of a successful takeover on june 8
implementation of a 0 92 program for 1987 winter wheat and 1988 feedgrains crops has been introduced by glickman which he said would result in a 150 200 mln dlr savings for one year
at current market prices domes stake in encor would be valued at about 308 mln dlrs while its 209 mln dome mines shares would be worth about 319 mln dlrs
the proposed sale is subject to approval by borg warners directors it said
at the ico talks major consuming nations led by the us proposed that future coffee export quota shares be calculated by a formula incorporating a producers recent exportable production and verified stocks while large producers led by brazil proposed maintaining the traditional ad hoc division of shares
a dresdner bank ag drsdf spokesman said the bank had no comment on newspaper reports that shareholders would be offered free subscription shares
he said the governors who agreed in january on a proposed denominator on which the six currencies should be based were asked to resubmit the recommendation before july when finance ministers were due to meet in saudi arabia
armtek arm unit leveraged buyout completed
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
bank of japan intervenes in tokyo after opening
corning glass works subsidiary corning international corp said it agreed to transfer 55 pct of its capital stock of an argentine glass manufacturer to a european group
colgate palmolive co cl sets quarterly
qtly div 40 cts vs 40 cts prior pay june 10 record may 27
they said they may buy more stock or sell some or all of their stake depending on market conditions but have no plans to seek control of the company
adler said however that the quarter would still be a loss primarily because it is the low season for the imaging business
net result breakeven no profit or loss vs breakeven operating loss 836 mln francs vs 654 mln net turnover 1270 billion francs vs 2434 billion sales of petroleum products 97 mln tonnes vs 106 mln note company said in a statement 1986 results were affected by the sharp fall in crude oil prices
otf equities inc otfe 4th qtr net
a high command communique said iraqi troops had won a significant victory and were continuing to advance
the report forecasts a decline in inflation with consumer prices increasing by 85 pct this year and 625 pct in 1988
the company said 03 pct fuel oil is up one dlr a barrel to 2225 dlrs a barrel
allegheny international sells wilkinson sword group for 230 mln dlrs
production in 1987 will probably hold around 1986 levels guerard said
us imports of coconut oil during january totaled 829 mln lbs compared with 480 mln lbs in december and 1065 mln a year earlier according to commerce department figures
one usda official who took part in the consultations this week described them as an exchange of calm basic factual economics another usda official said there was not even an informal suggestion or hint that the soviets would live up to their pledge to buy four mln tonnes of wheat this year if they were granted more favorable terms
taft broadcasting co said its board continues to explore alternatives such as a possible financial restructuring in response to a theta corp offer of 150 dlrs per share for taft stock
the company also said its board has authorized the repurchase in the open market or privately from time to time of up to an additional five pct of its own shares and the establishment of an employee stock ownership plan
the debentures have a 9 1 8 pct coupon and were priced at 9890 to yield 117 basis points over comparable treasury securities
petroleum and resources corp peo march 31
at present levels the dollar can no longer be considered grossly overvalued in relation to the european currencies and the yen gleske said
they said they would spend more than 13 mln us dlrs to enhance the biltmores position as one of the finest resort hotels in north america chicago based vms realty is a real estate and development firm
the reagan administration has warned france and germany that it may retaliate if control of the company is awarded on political grounds
the official who declined to be identified told sandoz had made a substantial addition to reserves to cope with the consequences of the accident at schweizerhalle which caused severe pollution of the rhine
we have to be competitive
finance minister kiichi miyazawa told parliament on friday the current dollar yen exchange rate is not necessarily satisfactory for the japanese economy
venezuelas total proven reserves as of december 31 1986 were 55521 billion barrels the fourth largest amount in the world hernandez said
property valuation reserve surplus 67 mln dlrs
campeau corp said it is not involved in the securities and exchange commissions administrative proceeding against allied stores corp which campeau acquired at the end of last year
the us agency also emphasised the favourable regulatory environment in which japans non life insurers operate
american medical international inc ami payout
real gdp will grow by up to 25 pct
more and more companies have announced plans to move production facilities offshore to take advantage of cheaper costs abroad they said
city resources ltd said it has agreed in principle to sell a 50 pct interest in a group of mineral properties in the southwest pacific to a buyer it did not name for 30 mln canadian dlrs
it is currently at about 2050 to the us dollar
the bank was considering proposals to allow firms and individuals to hold foreign exchange and invest in foreign stocks for the first time chang was quoted as saying
analysts said jardine matheson will also enjoy sharply increased revenues from financial services mainly its 50 pct share of jardine fleming holdings ltd jardine fleming yesterday reported record profits for 1986 of 2095 mln dlrs against 1047 mln in 1985
prev qtr and year includes tax loss carryforwards of 469000 dlrs and 1902000 dlrs respectively
the government last week reached agreement with its 13 bank advisory committee to reprogramme its 12 1 2 year rescheduling accord over 14 years with the interest margin lowered to 7 8 pct over london interbank offered rate libor from 1 1 8 pct
georgia gulf corp gglf offering of four mln shares of common stock through goldman sachs and co
it said funds for the redemption came from the sale of 300 mln dlrs of 9 3 8 pct first mortgage bonds due 2017 in february
the federal reserve is expected to intervene in the government securities market to add temporary reserves via customer repurchase agreements economists said
it was just sit and wait today but i expect it will be full steam ahead on wednesday commented one sterling market source
sapporo breweries issues five year sfr notes
energy prices rose 19 pct last month after a 30 pct rise in january accounting for one third of the overall cpi rise
closure of bp sweden refinery forecast
fhlbb reports thrift results in fourth quarter
reminded that senate agriculture committee chairman patrick leahy d vt had written two letters to lyng urging such an offer this official said lyng had received virtually no phone calls from lawmakers on the subject
the price of 92 octane petrol rises to 110 sucres a us gallon from 65 sucres
under the accord clinched on thursday in paris 100 pct of the principal and 85 pct of the interest owed between april 1 1986 and march 31 1988 is being rescheduled
on stocks the popular lme continental warehouses antwerp and rotterdam have little more than 3000 tonnes of lead each and this is believed to be in strong hands
the latest period of weakness for the dollar has accentuated fears that currency risk might induce japanese investors in particular to undertake dramatic reductions in their portfolios of us treasury issues
svenska finans gets 100 mln dlr euro cp program
news international issues 100 mln dlrs in bonds
thus while inventories could contribute to gnp in the first quarter they may result in scaled back production and weaker growth in the second he said
such action had been widely anticipated yesterday but failed to materialize
the us has also asked the general agreement on tariffs and trade to investigate the legality of japanese import controls on 12 other farm products including fruit juices purees and pulp tomato juice ketchup and sauce peanuts prepared beef products and miscellaneous beans
i dont see this as a trade issue
nazer said he was satisfied with the extent of cooperation from non opec producers
weintraub entertainment group inc said it agreed to acquire cannon groups screen entertainment film library
cabot medical corp cbot 1st qtr jan 31 net
ohio edison co oec 3rd qtr net
uluslararasi endustri ve ticaret bankasi as interbank a large privately owned trade financing bank in turkey is seeking a 20 mln dlr committed export advance facility morgan guaranty ltd said as lead manager
the us government did not seek permission for the journey claiming the area was an international water way
macalpine said there are lots of options for reshaping the company with a distribution of various pieces to the major shareholders among the possibilities
simon said standards board was informed of the offer on march nine and has been considering it since that time
in addition it plans to exchange debt for common stock shares s and p said
growers is owned by commercial chairman sid schuman jr
a drop in the fed funds rate to 5 15 16 today underpinned a decline in bill rates
bankers said it is hard to avoid the impression that a growing proportion of transactions in the saudi riyal market by far the largest in the region is being carried out in london
day to day operating costs of the exploration and production sector had been cut 10 pct last year and the target is to keep costs per barrel constant
in march last year the unadjusted unemployment total stood at 245 mln and represented 98 pct of the workforce
the director of the banco do brasils foreign trade department cacex roberto fendt told reporters the upturn in february confirmed a rising trend in exports which totalled 153 billion dlrs against 126 billion in january and after excluding coffee and oil derivitives was only slightly below the same month last year
the bourse bond index rose to 1173 last friday a rise of 19 against its level two weeks earlier
the national bank of new zealand ltd 
it said it received a 200000 dlr payment to deal exclusively with sterling through march six
caisse nationale des autoroutes cna is issuing a three billion franc 850 pct 15 year domestic bond at 9610 pct co lead managers caisse nationale de credit agricole credit du nord and credit lyonnais said
ended jan 31 shr loss 50 cts vs loss one ct net loss 2475739 vs loss 68691 revs 3689770 vs 3292733 year shr loss 50 cts vs loss two cts net loss 2472582 vs loss 112936 revs 148 mln vs 132 mln note current periods include charge of 225 mln dlrs or 45 cts for restaurant closings
pitt des moines pdm gets qualified audit
he told a press conference before leaving for tokyo that indonesias rising debt service ratio was a problem and cause for concern
graan elevator mij said its balance in port of grains oilseeds and derivatives rose to 136000 tonnes on march 7 from 31000 a week earlier after arrivals of 523000 tonnes and discharges of 418000 tonnes last week
this would make five cents for the year against a first and final of one cent in 1985
first city said about half of the loans sold to prudential came from its energy finance co an entity formed in 1982 to loan money to more venturesome oil borrowers that promised a higher potential return
taft have requested a response from taft broadcasting co by march 12
moore mcl to amend rights of preference shares
ice unchanged at soviet oil port of ventspils
ted truman director of the international finance diviision at the federal reserve board said banks were short sighted in not lending promptly and in the amounts called for by baker
but spanish purchases were up sharply at 258507 tonnes against 2751 tonnes in the same 1985 86 period and portugal bought 37599 tonnes compared with zero
it estimated factory and warehouse stocks of inedible tallow on february 28 at 4107 mln lbs vs a revised 3516 mln the previous month and 3619 mln in february 1986
jose antonio almenara the general manager of the lima stock exchange where shares of the state owned firms could be sold told that the only foreigners who could purchase stock at the exchange had to be tax paying residents of peru
chemlawn corp said it had no comment on a sweetened offer from waste management inc wmx waste management amended its 27 dlr per share tender offer raising it to 35 dlrs per share
the peoples construction bank of china is launching its first international borrowing by mandating four foreign banks for a 150 mln us dlr loan one of the lead managers banque indosuez said
four us banks are expected to receive finance ministry approval in late april to operate securities subsidiaries in japan as long as they hold no more than 50 pct of the capital bankers said
there are a variety of contingencies and restricted cash and all sorts of things that make it very speculative said one of the sources adding there are also severance payments to employees
former president robert d
metropolitans sec filing was made as a shareholder group with hack
ouko said the production of kenyas main cash crops increased during the second half of last year
but japans ethylene plants are already operating at almost full capacity of 45 mln tonnes a year just to fulfill domestic demand the sources said
we will not take any short term decisions which might cause markets to panic dauster added
the new york coffee sugar and cocoa exchange csce elected former first vice chairman gerald clancy to a two year term as chairman of the board of managers replacing previous chairman howard katz
the imf said that according to recent estimates the earthquakes will hurt the countrys balance of payments this year because of the loss of oil revenues due to destruction of part of the oil pipeline
holder proposes unitel unv sale or liquidation
carolina power said unit one which has been in operation since 1983 meets all air quality regulations without scrubbers through the use of low sulphur coal and the addition of scrubbers to mayo unit two would have produced only marginal air quality improvements the company said it will be able to purchase lower cost power from duke power co duk for intermediate and peaking purposes than the projected cost of power from mayo two with scrubbers
president kenneth kaunda announced last month that the auction would be retained for allocating foreign exchange to approved private sector bidders but would not be used to determine the kwachas exchange rate
an official at the us trade representatives office said us officials continued to press the ec to withdraw the rule but that the chances of that are not too good at this time however there is the expectation in us government and meat industry circles that the ec will continue to allow shipments at least through the end of the calendar year from us plants that submit to usda a plan on how they will bring their operations into conformity with the ec regulation the ustr official said
the drug is marketed in a number of countries and described as a broad based anti viral
sri lankas central bank offered 250 mln rupees worth of three month treasury bills at its weekly tender closing on march 6 a bank spokesman said
turnover fell to 953 mln from 970 mln
it said the sellers included atlantic american corp aameo bankers fidelity life insurance co and georgia casualty insurance co
the issue was selling at or just below issue price
borden said the other three companies being acquired are steero bouillon of jersey city nj blue channel inc a beaufort sc producer of canned crabmeat and the canned shrimp products line of dejean packing inc of biloxi miss
gateway said the acquired company has contracts with 102 dentists in 144 locations
after visiting the us england france west germany italy and switzerland funaro is now on his way to tokyo where he is to arrive on sunday for talks with japanese government officials as well as private bankers
japans unemployment rate seen rising to 35 pct
little risk seen for texas cotton from cold
empire co ltd said it will acquire all shares of sobeys stores ltd it does not already own under an arrangement approved by directors of both companies
the bond for bhf finance jersey ltd pays annual interest on april 28 and investors pay for the bond on the same day
processing costs are rising and the economic situation of nearly all the mills is not good
at the moment the rates for three month euromark deposits trade around 40 pct while the same deposits in guilders have a rate of around 5 7 16 pct
the company said it accepted subordinated notes and debentures in the aggregate principal amount of 952 mln dlrs which were tendered in exchange for 5897 mln shares of american quasar common stock and class a warrants to acquire 2340 mln additional shares of american quasar common stock for five cts per share
stocks on may 31 1986 at 1905 vs 1905 last month
liftings from the gulf to eastern options fell to 415 mln tons from 594 mln and those from the gulf to other areas dropped to 12 mln tons from 213 mln howard houlder said
if you do get water into that area then you can get very severe effects on the stability of the ship he added
heublein a former subsidiary of rjr nabisco inc rjr was recently acquired by grand metropolitan plc almaden based in san jose calif makes and sells table wines champagnes and brandies as well as some premium wines under the charles lefranc cellars label
qtr and year prior excludes tax gain 833000 and 3346000 respectively
traders cut bahia temporao cocoa crop estimate
cadillac fairview said the offers are subject to clarification and negotiation and offered no further details
arbitragers said a new buyer might be found because they believe hutton lbo has taken on no risk in the transaction
venezuela ecuador oil loan under discussion
echo bay eco has nevada gold discovery
mees said iraq had sent a telex to opec and member countries calling for the formation of a committee to study what it said were inequalities in marketing potential among various members
information solutions inc isol 1st qtr jan 31
the firm said the offer proration period and withdrawal rights expire april 22 unless extended
alusuisse group 1986 net loss 688 mln swiss francs loss 756 mln
president reagan said today economic policy decisions made last year in tokyo and at this years meetings of group of seven finance ministers in paris and washington cannot be ignored or forgotten the commitments made at these meetings need to be translated into action he added in a speech celebrating the 40th anniversary of the marshall aid plan for europe
in the third quarter gnp rose 06 pct
usx said the increase will be on all plate products including carbon high strength low alloy strip mill and alloy plates
the following proposed securities offerings were filed recently with the securities and exchange commission evans and sutherland computer corp escc offering of 50 mln dlrs of 25 year convertible subordinated debentures through hambrecht and quist inc
pioneer standard electronics inc pios payout
the company had average assets of 3998 mln dlrs from continuing operations and 298 mln dlrs from discontinued operations in 1986 according to its annual report
byron nimocks of ef hutton group said improved second fiscal quarter earnings could make american medical stock worth about 20 dlrs per share
currently some 700 oil rigs are operating in the us down sharply after oil prices slipped from 30 dlrs in late 1985 to around 10 dlrs in 1986
sterling started at 16190 00 dlrs against 16195 05
last year westinghouse established a 790 mln dlrs restructuring reserve to be used for plant consolodation assett writedowns and other items
california energy ceci gets private funding
two new york management investment firms told the securities and exchange commission they had increased their holdings in purolator courier corp to 72 pct from 62 pct
manufacturers hanover mhc files for debt offer
booker says 1987 starts well
talks between cargill uk ltds management and unions aimed at ending the prolonged strike at its seaforth oilseed processing plant will resume this afternoon a company spokesman said
south african gold holdings rise in march
swedish tyres process equipment and components firm trelleborg ab said it was taking a larger stake in mining and metals concern boliden ab bldsst than it had originally intended
you cant expect to get very far at the first meeting one banker said
you look at their record over the year and i think theyre poised to be more profitable than they had been in the past gormley said
pay date is april 22
growers had harvested seven to nine pct of total planted area compared to five to seven pct last week
block is currently analyzing its price structure to try to offset some of the negatives
the 157 are among about 290 items on which washington has asked seoul to lower tariffs he added
shell canada cuts crude oil prices by up to 127 canadian dlrs bbl effective march one
the gulf oil state of qatar recovering slightly from last years decline in world oil prices announced its first budget since early 1985 and projected a deficit of 5472 billion riyals
the long term outlook for our sulphur operations remains bright the company said
edward zorinsky d neb
kohlberg kravis has 96 pct owens illinois oi 
talking point burlington industries bur 
czechoslovakia joined as an importer
at this weeks march 31 april 2 meeting the 16 member ico board is scheduled to discuss the current market situation the reintroduction of quotas verification of stocks and some administrative matters according to a draft agenda
agip petroli spa said in a statement that the remaining 50 pct of the us firm is owned by steuart investment co a holding company which also has interests transportation hotels and insurance
bankers in the saudi capital said the need to build reserves for bad and doubtful debts may start to decline a little this year
under the terms of the us greek bases accord greece has the right to ask for suspension of operations at times when its national interests are threatened
reichhold chemicals inc exploring possible sale of european subsidiary
leo w
system designers shares were nine pence higher at 100 prior to the share stake announcement and have showed little movement since
but baker said his compromise proposal which he would not disclose was no longer on the table
sharp operates 38 offices in 20 countries
nodaway valley co nvco 4th qtr jan 31 net
dime savings bank of wallingford dibk payout
the company said normal paul a member of the private investment group will head hudsons bay wholesale management
this brings the banks total help so far today to 461 mln stg and compares with its revised shortage forecast of 450 mln stg
nikko said it was still completing the syndicate
india has signed a trade protocol to buy up to 15000 tonnes of asbestos fibre from zimbabwe in exchange for indian goods including jute bags and cars
italian treasury to issue new certificates
shr six cts vs eight cts net 643000 vs 889000 revs 3934000 vs 4373000
the measure was adopted as part of a wide ranging trade bill that will be considered by the full house in april before it moves on to the senate
bankers said the request is a legal nicety since the money is subject to the moratorium
first city industries inc fcy 4th qtr net
the increase brings posted prices for west texas intermediate and west texas sour to 1900 dlrs a barrel each
shr one ct vs five cts net 42469 vs 226791 sales 7963620 vs 6886414 nine mths shr 12 cts vs 22 cts net 490927 vs 949650 sales 240 mln vs 187 mln
indonesia the worlds second largest producer of palm oil after malaysia has been forced to import palm oil to ensure supplies during the moslem fasting month of ramadan
purolator closed at 34 7 8 off 5 8
the price decrease follows sharp declines in heating oil prices on spot and futures markets traders said
exxons new president lee r
manufacturing industrys production fell 1 1 2 pct in january february compared with november december
say industries inc said it expects a loss of about two mln dlrs in its third quarter ended february 28 from the proposed sale of its omnilab inc health care unit
the seven year bonds totalling 500 mln forints may be taken up by companies cooperatives and enterprises mti said
the slight rise partly reflected the repayment last month of frances outstanding 1195 billion francs of debt owed to the european monetary cooperation fund fecom it also reflected a negative 314 mln franc position with frances exchange stabilisation fund after intervention purchases of 106 billion francs during may
thas said 32 of the 543 passsengers and crew were confirmed dead and 160 were missing bringing the total of dead or presumed dead to 192
the repayment of the funds for the year to end march was in line with details given in the prospectus last year
sprinkel added that if west germany and japan made progress to stimulate their economies as the paris agreement envisaged there would not be the necessity of significant declines in the dollar one dealer for a us based bank noted the dollar tended easier after the remarks
the company said the disposition will result in no profit or loss for the company because the costs were anticipated in a 34 mln dlr reserve taken in the third quarter of 1986
the administrations plan to spin off the departments uranium enrichment operation is in line with it effort to reduce the federal governments role in areas where it feels private enterprise could be more efficient
sri lanka will uproot rubber trees that are more than two years old and affected by the leaf disease corynespora the head of the governments rubber research institute told 
the company said the default amount is 57424 dlrs for each 1000 dlrs principal amount of debentures
adoption of stiffer capital requirements is especially significant in the eurobond markets which saw new issue volume of about 183 billion dlrs in 1986 according to figures compiled by euromoney magazine
analysts noted that february is considered a small transitory month between winter and spring
an economy ministry decree published in the official gazette said that the amount comprised 472 mln drs in arrears in principal which matured between 1982 and 1986 inclusive and and 888 mln dlrs in principal which were to mature between 1987 and 1996 inclusive
council of europe issues luxembourg franc bond
mills in the area have been reporting that their crops are beginning to look healthy and greener and are putting on growth since the rains began the spokesman said from brisbane
sun hung kai co ltd year 1986
but lucas said it was exploiting growth opportunities in automotive markets especially in vehicle breaking and engine management systems
bank of china buys share in luxembourg company
the analysts described chancellor of the exchequer nigel lawsons budget as cautious a quality which currency and money markets had already started to reward
chandler itself was set up in the isle of jersey in the middle of last year as a partnership whose members have been involved in financial markets
prior year net includes extraordinary credits of 1100000 dlrs in quarter and 3300000 dlrs in nine mths
shr 51 cts vs not given net 6089000 vs 7310000 note company went public in november 1986
audio videos offer is scheduled to expire march 20
uae trade current account surpluses narrow
unicorp canada corp told the securities and exchange commission it cut its stake in purolator courier corp to 286500 shares or 37 pct of the total outstanding from 962400 shares or 124 pct
oil and natural gas liquids sold for an average 1420 dlrs a barrel in 1986 a reduction of 37 pct
malaysia also is shifting plantings to sabah and sarawak where the rate of expansion is higher than in the peninsula but where yields are lower he said
terms were withheld
final dividend is payable may 28 to holders of record april 10 fourth quarter us dollar figures for group translated from sterling at average rate of exchange for the quarter which was 143 dlrs per pound in 1986 and 144 dlrs in 1985
imo delaval said its board declared an initial quarterly dividend of 14 cts per share payable april 24 to holders of record on april 6
itel corp said it completed the previously announced purchase of the container fleet and certain related assets of flexi van leasing inc for about 130 mln dlrs cash and marketable securities 30 mln dlrs in notes three mln shares of newly issued itel common and assumption of certain liabilities
s p affirms chrysler and units affects 19 billion dlrs of debt
im saying you cannot argue with success
agra industries ltd six mths jan 31 net
the issue will consist of four maturities 8 pct bonds due july 1 1990 8 1 4 pct bonds due march 1 1994 8 1 4 pct bonds due march 1 1997 8 1 2 pct bonds due june 1 2011
keppel corp convertible increased to 75 mln dlrs
us trade representative clayton yeutter said that whether the exchange rate of the dollar would fall or rise in the coming decade would depend on nations financial monetary and tax policies
internatio mueller acquires canadian company
moniterm corp mtrmo 3rd qtr oper net
lyng said the united states would oppose parts of the plan seeking a market sharing agreement for grains and proposing curbs on us soybean and cereal substitute exports to europe
the european community commission has decided to abolish a special tax of eight ecus per tonne imposed on exports of spanish maize commission sources said
furthermore as the ground surface thawed some standing water occurred in the fields
treasury assistant secretary david mulford said he did not believe that west germany and japan have yet carried out their international responsibilities
trust america trus sets credit line
us corporate finance new zealand dlr frns
consideration for the purchases which will be based on the net asset values per share of the companies has yet to be finalised but some nine mln stg of the total represents debt assumed by glynwed
arab heavy term crude supplies to japan up in july
the issue is available in denominations of 20 and five mln yen and will be listed in luxembourg
in a filing with the securities and exchange commission the chicago based hotel casino gambling and amusement concern also said the anticipated charge against first quarter earnings will not be deductible for federal income tax purposes
more modest gnp growth of five pct for 1987 was also targeted tigrel said
but this follows a robust 113000 gain in january revised down from a previously reported 142000 gain
asked if the us federal reserve board agreed in paris last month to intervene to stabilise exchange rates miyazawa said yes the sources said
turkish retail prices rose 27 pct in february after 29 pct in january and 17 pct in february 1986 the state statistics institute said
elders says neither it nor carling knows the identity of the bidder for carlings preferred shares
seven oaks international inc said it has formed a new 80 pct owned subsidiary called seven oaks direct inc to offer a full line of telemarketing services
mitsubishi heavy industries ltd mitht mhi which began making ships and iron goods for japans military rulers 130 years ago is responding to the strong yen by redoubling its efforts to maintain its share of export markets
the statement said brazil had two ways to take a return by way of submission to manoeuvres and outside pressure or the way which leads the country to its independence
it added that it had appointed david lyon currently managing director of redland plc rdldl as its new chief executive
output increased by 56 pct from january 1985 to january 1986 and 09 pct from february 1985 to 1986
div and rights issue reg march 30
payment is due on april 8 and the warrants will be listed on the luxembourg stock exchange
the group of 24 developing countries said in a communique that some kind of debt relief is necessary and called for a new attitude on the part of the banks
handy and harman hnh 4th qtr loss
grumman corp said it was awarded a 28 mln dlr contract by mcdonnell douglas corp md to develop flight control surfaces for the united states air forces new c 17 transport aircraft
storage dimensions is the creator or speedstor software a utility program that integrates high capacity disk drives into pcs
only a provision directing us officials to vote disapproval was enacted into law
the rate for raws is based on 92 pct yield
republic of ireland frns were marked sharply down in initial trading and market nerves soon infected other supra national and sovereign paper with dealers attributing the falls to aggressive professional shorting by a few leading us investment houses
italys wholesale price index rose 02 pct month on month in february 1987 after increasing by 11 pct in january the national statistics institute istat said
dealers said the announcement had to be viewed against the backdrop of intense pressure for lower uk interest rates which had built up over the past two weeks as a result of sterlings strength
honeywell said the sale of his has created a new dedicated computer company jointly owned by bull nec and honeywell
other export dependent industries such as cars and textiles have laid off part time employees and ceased hiring economists said
branch corp bnch 1st qtr net
some 95 pct had already cleared quality specifications
triguna set up in 1982 is owned 40 pct by mhi and 25 pct by c
it also forces the administration to act rapidly when an industry complains that a surge in imports threatens its existence
eib 300 mln guilder bullet bond priced at par
newhall investment properties said it declared a special distribution of 50 cts per share payable june one to unitholders of record april 24
swiss inflation is likely to rise in 1987 and 1988 because of inflationary tendencies in the domestic economy the centre for economic research of the federal institute of technology said in its spring review
gillette canada issues 500 mln french franc bond
export bonus wheat for jordan usda
final terms will be fixed on april 9
s and p cited rising non performing loans and high loan loss provisions
asked about the prospect of a priority for agriculture in the negotiations he said one has to be politically realistic if there is any chance of getting it agricultural trade reform done in two to three years its going to have to be as part of a larger package
market participants will have 60 days to respond to the proposals
medium short grain rice in mln cwts 100 lbs cont
petro canada raises crude postings 32 cts canadian bbl
texas cotton crop stands little chance of damage from frigid temperatures expected tonight in that state as very little cotton has been planted according to texas agricultural sources and cotton market analysts
capital expenditure on large projects has been cut sharply
the residential cmo package also has three fixed rate tranches merrill lynch said
west german bond yields could decline over the next few months if recent efforts to stabilize exchange rates as seen in last months paris pact extend to keeping down european interest rates banking economists said
purolator retains its stant division which makes closure caps for radiators and gas tanks
valley federal savings and loan association said its board declared a two for one stock split for its common stock
theyre going to have to start running their businesses like businesses baches wolffe said
loss also includes the sale at a loss of the companys aircraft
first new hampshire banks inc div
a memorandum of understanding signed by the two sides in october last year said bond would acquire atlas total loans of 275 mln dlrs to be repaid by the mining company in gold
australian terms of trade worsen in last quarter
it estimates that total bulk shipping demand from the iron ore sector will fall by almost 10 pct or 200 billion tonne miles with shipping demand associated with the coking trade down about 17 pct or 130 billion tonne miles
the seven day repurchase rate has also been unchanged at 8 3 4 since it was raised by a half point on january 5
however condon said he did not believe plantings would be cut by as much as 30 pct although he realised many farmers were facing enormous financial pressures
crude oil netback values in complex refineries rose sharply in europe and firmed in the us last friday from the previous week but fell sharply in singapore according to calculations by pipeline
consumers want frequent price reviews at 12 month intervals instead of 18 months as at present a proposal currently rejected by producers
a taiwanese banker saidit will be a good idea for our banks to take part in the loan if we want to start in the international lending market
dealers noted that the spread to treasuries is wide for a newly priced aaa rated borrower like japan development bank
the tremor damaged an oil pipeline thus barring all crude exports for a projected five months
governments of major asian producing countries have welcomed the conclusion of a new international natural rubber agreement inra but growers and traders are unhappy with the development according to views polled by correspondents
the sugar import quota for the 1987 quota year january december has been set at 1001430 short tons compared with 1850000 tons in the 1986 quota year which was extended three months to december 31
nigeria and britain signed an agreement to reschedule nigerias official debts in the first of an expected series of such talks government sources said
minnesota mining and manufacturing said it acquired a computerized hospital information systems business from control data corp
ohio mattress co said that its ohio sealy mattress manufacturing co unit completed its previously announced acquisition of sealy mattress co of michigan inc
marathon to raise crude prices 50 cts bbl tomorrow wti to 1750 dlrs
diamond shamrock offshore dsp in find
baker noted that the j curve the delayed beneficial effect of a weakening of a currency on that countrys trade balance takes 12 to 18 months to work its way through to the trade deficit and it is now 18 months since the plaza agreement to lower the dollars value
switzerland had a trade deficit of 6297 mln swiss francs in february compared with a revised 2094 mln deficit in january and 7232 mln shortfall in february 1986 the federal customs office said
there was no immediate confirmation of the attacks from gulf shipping sources
hcf porsche ag pshgf said it expects to post a satisfactory profit in 1986 87 with domestic volume sales seen lower but us sales anticipated higher
sclumberger had said that controversy surrounding the venture made it unlikely the sale could be completed any time soon
adjustment loans could rise to 30 pct of total world bank loans in the near future though maybe not this year conable told after his speech
cpc international announced tuesday it had agreed in principle to sell its european corn wet millng business to ferruzzi
the centre right administration had made economic growth reform a priority in its 17 months in office
canada gdp rises 31 pct in 1986
chemlawn corp and ecolab inc said they signed a definitive merger agreement under which ecolab will buy all outstanding chemlawn common stock for 3650 dlrs a share in cash for a total of about 370 mln dlrs
the english language south china morning post said us lines decided yesterday to sell its two remaining transpacific service fleets and assets and those of its us south america operation
us corn sorghum payments 50 50 cash certs
miller richard e
last year sand lost 243064 dlrs on revenues of 7012195 dlrs in the second quarter
they will be listed on the london stock exchange
kenyas economy will continue to expand this year and the government will do more to encourage investment by foreign firms and the local private sector planning minister robert ouko said
malaysian palm kernel output falls in february
minstar inc said it is still interested in acquiring borg warner
the company completed conversion from mutual to stock form in october 1986 raising 141 mln dlrs in net proceeds through the sale of 23 mln shares of common stock
moodys also cited texas airs secondary position to the cash flow and assets of its subsidiaries relative to its subsidiaries creditors and the insufficiency of the holding companys cash flow to meet fixed charges
the bank said merrill lynch international and co is co lead manager
saudi oil minister hisham nazer told and the television news agency visnews yesterday that saudi output including neutral zone production was around three mln bpd
otherwise the labour scene looked bleak with the bank strike posing the most serious problems for brazils crisis laden economy
qtly div 30 cts vs 30 cts prior pay june 8 record may 18
sorghum sales of 178800 tonnes were two thirds above the prior week and 75 pct over the four week average
mco resources inc mcr 4th qtr loss
venezuela wants 24 billion dlrs export finance
china has raised the prices it pays farmers for cotton edible oil sugar cane and beets to reverse a decline in output in 1986 he kang minister of agriculture animal husbandry and fisheries said
southwest said the waiting period expired on march 5 without receiving a formal second request for information
qtr ends jan 31 shr six cts vs eight cts net 103436 dlrs vs 134360 dlrs revs 1762270 vs 1282463
continental federal conf holder to sell stake
mcclain industries inc said its board declared a four for three stock split payable 30 record april 15
long grain acreage as a percentage of total acreage is expected to decline this year the report said
shr 17 cts vs five cts net 1442000 vs 393000 revs 9771000 vs 8052000 year shr 74 cts vs 23 cts net 6076000 vs 1875000 revs 349 mln vs 303 mln
in september 1986 sosnoff who is chairman of atalanta sosnoff capital corp filed for clearance under us antitrust laws to raise his interest in caesars world to 25 pct
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
new england electric systems auditors have again qualified the utilitys annual report because of uncertainty about whether its oil and gas subsidiary can recover its investments
the financing will be for seven years with four years grace and will allow the borrower to make drawings in us dollars
the newsletter gave the following figures for the progress of the harvest in the main producer states parana 40 pct mato grosso do sul 15 pct mato grosso five pct rio grande do sul two pct
the treasury also cut by 060 point six monthly coupons payable this september on six issues maturing between september 1988 and september 1991
exchange rate on day of dividend declaration was 20792 pesos per dollar
the food department will no longer import sugar from april 1 senior officials of the food and cooperatives ministry and the department told 
proceeds will be used to redeem outstanding preferred stock or for repayment of short term indebtedness
total sales in 1986 were 46 billion crowns or 68 billion dlrs
as a result several officials said they saw no reason to alter the broad thrust of government policy agreed to at last months meeting of major nations in paris
the quake on thursday which registered six on the 12 point mercalli scale killed at least six people and was centred near the reventador volcano about 90 km 50 miles east of quito
henry said he had anticipated national distillers would net only 600 mln dlrs at the most from the sale of the two liquor businesses
zambia clears imf 1985 debt
this year it plans to buy 400000 tonnes on the spot market compared with about 13 mln tonnes last year
greek prime minister andreas papandreou said today that the greek armed froces were ready to tackle any aggressors following the sailing of a turkish research vessel and warships towards disputed waters in the aegean sea
makers of consumer goods posted a 1 1 2 pct year on year rise in the two month period
cardis cds expects significant year loss
foreign ministry sources said the new strategy was being prepared by economists persio arida and andre lara resende both former central bank officials said to have played leading roles in the cruzado plan
the sunflower harvest advanced to between seven and nine pct of total planted area
an index reading above 50 pct generally indicates that the economy is in an expanding phase
the payment date is may 7
a breakdown of the figures showed peru exported 2964 tonnes of bismuth to the us during jan may 1987 compared with 1270 during the whole of 1986
it said the effect of these factors led the management group to conclude that the six dlr per share price was excessive under current conditions
but with dwindling financial surpluses in the gulf governments are actively pursuing ways to develop capital markets and set up domestic stock exchanges azzam said
hovnanian enterprises inc said the companys earnings for year would exceed the 165 dlrs a share previously announced and could go as high as 175 dlrs for fiscal year ended feb 28 1987
bci said its aims are to invest in established companies principally family companies with succession issues and corporate spin offs
technigen platinum corp in metals find
oecd sees major adjustment for australia
lyphomed inc lmedo 3rd qtr net
gander mountain inc gndro 1st qtr sept 30 net
on february 20 president jose sarney announced that brazil was suspending interest payments on 68 billion dlrs of debt to private banks
the spokesman said fecsa was sending telexes to its creditors to set dates for the renegotiation
turnover 3801 billion marks vs 4272 billion
the commonwealth bank of australia said it will lower its reference rate for loans to 1575 pct from 1625 pct and its overdraft reference rate to 1625 pct from 1675 effective june 24
shr 52 cts vs 47 cts net 1935000 vs 1495000 revs 527 mln vs 431 mln year shr 83 cts vs 101 dlrs net 3775000 vs 3221000 revs 1727 mln vs 1059 mln note share figures for year are after payment of preferred share dividend and include unspecified extraordinary items
kidder peabody merrill lynch and smith barney co managed the issues
le groupe videotron ltee vdoto nine mths net
the problem is that the changes needed in fiscal and trade policies to redress current imbalances are of a different timescale than currency markets operate on the source told this is a political process which takes time alois schwietert chief economist at swiss bank corp in basle also questioned the tone of disappointment evident on currency markets today
the st
the world farm market suffers from surpluses because of rising production by exporting countries he added
it estimated 1985 86 output at 2425 mln tonnes vs 2425 mln last month
the payment date is may 7
gustafson said he would not be changing his estimate of planted acreage for corn as a result of the latest figures but some other analysts said they would adjust their estimates slightly
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
a dart spokesman said the 14 mln shares were sold in the market today
trade credit lines were 880 mln dlrs in 1982 but fell in 1984 when peru stopped some payments to private foreign banks
timeplex inc tix completes redemption
the company is one of the largest lamb and beef producers in the us producing transporting and selling the products domestically and internationally
hutton said in the merger shareholders would get 46 mln dlrs aggregate amount of guaranteed debentures due 2002 of pc acquisition and warrants to buy 15 pct of the common stock of the pc courier subsidiary
the canadian dollar has not been rising like the pound but sloane and other analysts cautiously predicted a big move soon
wendys international inc declined to comment on vague rumors by traders that it might be a takeover target
perception said it has outstanding lease receivables from tc of about 2480000 dlrs
silvercrest corp slv 1st qtr sept 30 net
apart from its recovery against a weak us dollar the australian dollar has also risen almost three pct on a trade weighted basis in the last three weeks
new zealand treasury bill tender cancelled
qtly div 68 cts vs 68 cts prior pay june one record may eight
shareholders in the new firm are fitch investors service inc a us based rating agency and compagnie belge dassurance credit sa a credit insurance firm which is a subsidiary of societe generale de belgique
the increase in september housing starts was the largest since a 108 pct gain in starts in december 1986 commerce department officials said
the short term effect of foreign exchange rate movements in correcting international trade imbalances appears to be waning and long term efforts are required to cut japans chronic dependence on external demand the bank of japan said in a monthly report
we havent had a strike on the seaway for years a prolonged strike would have a disasterous effect seaway authority spokeswoman gay hemsley said
stevenson said k mart will continue to operate the stores
crime control inc said it reached a definitive agreement under which a subsidiary of hawley group ltd will buy assets and assume certain liabilities of crime control for 513 mln dlrs
opec will probably not do anything it hasnt already agreed to in december because oil prices are firm said john hill a vice president at merrill lynch futures
shr 40 cts vs 33 cts net 326 mln vs 267 mln revs 4065 mln vs 3701 mln nine months shr 144 dlrs vs 120 dls net 1178 mln vs 975 mln revs 12 billion vs 11 billion
penobscot shoe co pso 1st qtr feb 27 net
pakistan consumer price index falls in january
the swiss franc yen exchange rate was fixed at 9727
interest will be payable may 15 record may one
the talks follow an agreement reached between nigeria and the paris club of western creditor governments in december to reschedule some 75 billion dlrs of medium and long term debt due between september 1986 and end 1987 over 10 years with five years grace
but he added i dont see any great pressure to go away from it
for producers with low production costs that difference is greater and can be applied to paying variable costs he said
other countries represented at todays talks were italy which refused to attend last months meeting on the grounds that it was being excluded from the real discussions the netherlands belgium and switzerland
they said sudan will export corn sesame peanuts spices and cow hides while jordan will export cement tomato puree chemicals and pharmaceuticals
dome has pledged its 425 mln encor shares as security for part of its debt to canadian imperial bank of commerce estimated last year at 947 mln dlrs
however bankers said that despite the size it is likely the financing will get done quickly since banks will want to be seen as supporting the relationship
the central bank will issue licenses to procure foreign exchange in accordance with guidelines set by the council
mercer said celerons reserves would not be sold separately from the pipeline
as earlier reported evans said he was inclined to target any tax changes rather than take a broad based approach to secondary taxation of petroleum
but rising unemployment could help to hold down wage demands contributing to a slowdown in inflation to around a two pct annual rate this year and early next the oecd said
the automakers march us jeep output was 21390 up from 16215 in the same month last year
shr 95 cts vs 83 cts shr diluted 89 cts vs 80 cts net 2297842 vs 1782764 avg shrs 2408332 vs 2160000 avg shrs diluted 2573908 vs 2326667
treasury secretary james baker said the floating exchange rate system has not been as effective as had been hoped in promoting stability and preventing imbalances from emerging in the global economy
under current programs freight costs can be covered only for export sales of us breeding animals
the transaction resulted in a discharge of silvertons bank debt of 210 mln dlrs and a three mln dlr loan to inverness from silverton inverness said
gains on the sales of westar timbers skeena and celgar pulp mills and terrace sawmill partially offset the extraordinary loss the company said
picketing ufcwu members at the plant did not disrupt operations a company spokesman said
again the company said it expects discussions with the other possible investor to conclude shortly
new zealands broadly defined seasonally adjusted m 3 money supply grew an estimated 24 pct in january against a 34 pct revised from 36 rise in december and a 07 pct rise in january 1986
french money supply measured in terms of m 3 rose a provisional one pct in january after falling 07 pct in december the bank of france said
while relative exchange rates had a role to play in defusing the threat of protectionism it alone did not offer any solution he said
shr loss nine cts vs loss 103 dlrs net profit 100000 vs loss 116 mln revs 1252 mln vs 718 mln nine mths shr loss 246 dlrs vs loss 98 cts net loss 269 mln vs loss 85 mln revs 3554 mln vs 2156 mln note 1987 qtr includes loss 59 mln dlrs non recurring after tax charges due almost entirely to the companys recent buyout of its tilden mine debt obligations
shv withdraws ic gas offer
its not necessarily an unfavorable development gros said when asked about the prospect of brazilian loans being put on a cash basis
stewart and stevenson ssss 4th qtr net
shr three cts vs two cts net 456000 vs 272000 sales 15 mln vs 144 mln nine mths shr six cts vs 23 cts net 992000 vs 3812000 sales 411 mln vs 454 mln order backlog 46 mln vs 243 mln note 1986 figures include a gain of 29 mln dlr or 17 cts a share from life insurance proceeds
it also has asked for information on acquisitions and divestitures the companys accounting system and other internal controls allegheny said
the letter of credit will be underwritten by a group of banks who will be paid a 20 basis point facility fee and a 25 basis point utilisation fee
he inherited inflation of 23000 pct a year state enterprises that were losing hundreds of mlns of dlrs and a currency that traded on the black market at up to 16 times its official rate
by 65 pct to 100 pct a siemens spokesman said
standard and poors said chiyodas rating was based on its strong capitalisation stable performance and high levels of unrealised appreciation particularly in its stock portfolio
the february figure provisionally gives a trade surplus for 1987 of 180 mln crowns against a 304 billion deficit in the same 1986 period
they were not simply pledges to maintain currency stability but also to conduct a certain type of economic and monetary policy he added
generally analysts say producers have a large buildup of stocks but us roasters have drawn down supplies and will need to do some buying soon
ec warns us and japan on trade tensions
thailand exported 75160 tonnes of rice in the week ended march 31 down from 88785 tonnes the previous week the commerce ministry said
he said he hoped talks under way with the paris club grouping polands main government creditors would shortly solve the problem of short term servicing
noel industries nol board approves financing
he did not say how the 1987 88 budget shortfall would be covered
iran launched a major offensive codenamed karbala 5 towards the major southern iraqi port of basra in january but there have been no reports of heavy fighting in the area in recent weeks
the student loan marketing association said it plans to price 300 mln dlrs of short term floating rate notes due oct 8 1987 on monday
march 31 1986 end shr loss seven cts vs loss 11 cts net loss 76888 vs profit 106885 revs 752234 vs 922036
burnham american propoerties bapyzo 2nd qtr
norstar an albany ny holding company reported net income of 1048 mln dlrs and assets of 111 billion dlrs
the bond is callable after seven years at 100 1 8 pct and it will be listed on the london stock exchange
danaher dhr expects earnings increase in 1987
the original estimate of seedings of winter wheat was published in january
a similar argument was made on capitol hill earlier this week by federal reserve board chairman paul volcker
a spokesman for padaeng industry co ltd the countrys sole exporter attributed the decline to the companys lower stocks which averaged 5000 tonnes in the first quarter against 16000 tonnes in late 1985 when it began exporting
group to buy more intermedics itm shares
brazils soybean harvest was 13 pct complete by march 20 the safras e mercado newsletter said
has raised its stake in telecom plus communications inc
swedens nordbanken banking group said it would sell the 42 mln b free shares deposited as loan collateral by fermenta abs frmsst founder and former chief executive refaat el sayed and it planned to buy them up itself
but in a surprise move liberal democrats and conservative republicans on the committee joined in an unusual alliance to oppose the resolution
the addition of the stores will bring krogers dallas division to 75 stores it said
edward muda an aice official who attended the ico negotiations said latin american members of the group of eight were in contact with colombia the worlds second largest producer but gave no details
rogers said that with world grain prices at their lowest level in over a quarter of a century in real terms demand has begun to rise while producing nations are re examining their expensive price support policies and reducing planted acres
rubbermaid inc 1st qtr shr 28 cts vs 22 cts
italian savings bank cassa di risparmio di roma is launching a 100 mln dlr euro certificate of deposit issuance program chase investment bank ltd said as arranger
in a separate report tanjug said the ec has so far refused a yugoslav request for a 600 mln ecu infrastuctural loan and a 100 mln ecu grant from the ec budget
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
national city corp nctyo 1st qtr net
juan domingo cordero vice president of the caracas stock exchange and the owner of a foreign exchange trading house said on friday he had begun legal action against cambio la guiara for issuing him four checks without funds for a total amount of almost one mln dlrs
the bank said the share sale price was likely to be announced on april 24 before the launch of a public flotation offer on april 27
guilford mills gfd to sell convertible debt
the group has expanded rapidly in the past year through the 6725 mln stg acquisition of exco international plc and 90 mln bid for steel brothers holdings plc it noted that its operations were now divided between financial services including money broking investment management and forfaiting and more traditional areas such as aviation hotels commodity trading and office equipment
miller told told the annual meeting
he said its not presidential lyng said
sallie mae a federally chartered stockholder owned corporation is the nations major financial intermediary serving the education credit market
later white house spokesman marlin fitzwater defended the new sanctions against japan and said administration officials do not believe this will result in a trade war it is the first time that the united states has taken an action of this type and it is significant but it is nothing to be alarmed about the presidential spokesman added
the buying began when the dollar was at about 14960 yen and helped drive the us currency up to around 150 he said
quaker oats co oat 1st qtr sept 30 net
shr 77 cts vs 84 cts net 17 mln vs 19 mln sales 650 mln vs 614 mln
moet hennessy proposes higher dividend
banks express grave concern on brazil debt move
c and w has also been pushing hard for permission to lay a new cable between japan and the us the proposed merger has sparked an international row with british government sources threatening retaliatory action against japan for what they see as discriminatory practices against foreign firms
an additional 350000 tonnes of us barley are still available to saudi arabia under the export enhancement program initiative annnounced on may 15 1987 it said
strong south easterly winds were keeping many vessels trapped in the ice off the finnish and swedish coasts in one of the worst icy periods in the baltic for many years the finnish board of navigation said
sa belgo factors turnover in 1986 was 175 billion belgian francs
jerome kaplan and other managers
the bank of france intervened to buy small amounts of dollars and sell yen in paris today to stabilise the exchange rates agreed at last months meeting of finance ministers of the group of five and canada foreign exchange dealers said
imtec imtc gets merger offer
six are to load 186000 tonnes of wheat for the soviet union
the international cocoa organization icco council adjourned after presenting divergent producer and consumer views on buffer stock rules and agreeing to examine a draft compromise proposal on the buffer stock issue tomorrow delegates said
eventually the ministry will get what it wants one combined competitor bache securities japan ltd analyst darrell whitten said
the drop was due to operating problems in the campos basin the countrys main producing area where output was down to 346011 bpd from 357420 a petrobras statement said
asked if there had been any change in the fundamentals of each nation since the february 22 paris accord he said he did not think the fundamentals themselves had changed substantially
under the latter pechiney which does not manufacture packaging equipment will form and lead a consortium of yet unspecified european partners a spokesman said
guilford mills inc is raising 75 mln dlrs via an offering of convertible subordinated debentures due 2012 with a six pct coupon and par pricing said sole manager bear stearns and co
finance minister kiichi miyazawa said japan has no plans to take new emergency measures to support the dollar other than foreign exchange intervention
mcm corp said it has been forced to delay the release of its fourth quarter and yearend results until it can determine the effects on its balance sheet of a possible increase in liabilities at a unit
shr 22 cts vs 14 cts net 917000 vs 553000 sales 161 mln vs 136 mln avg shrs 4195000 vs 4090000 nine mths shr 70 cts vs 29 cts net 2852000 vs 1086000 sales 492 mln vs 407 mln note prior nine mths net includes gain 250000 dlrs from insurance payment
standard and poors corp said it raised to b from ccc 2689 mln dlrs of equipment trust certificates of texas air corps eastern air lines inc unit
world dependency on mideast oil said inevitable
charter co the huge petrochemical concern in bankruptcy proceedings stemming from hundreds of dioxin related claims said it and all of its subsidiaries except the independent petrochemical corp will complete their reorganization on march 31
ferruzzi said the deal is subject to agreement on several clauses of the contract and needs government authorisations
furthermore usda said the current sugar program gives overseas manufacturers of sugar containing products a competitive advantage
the australian government had already imposed residue controls and it is believed the meat with the presticide residues was already in the pipeline before the controls were put in place the spokeswoman said
houston metals corp said the the first phase of the underground rehabilitation extensive drilling and bulk sampling program at its silver queen mine has yielded positive results
the us agriculture department said it has extended until april 17 the date by which agricultural stabilization and conservation county offices must determine eligibility of individuals or other entities for payments under 1987 farm programs
borg warner corp will vigorously resist gaf corps 46 dlr per share takeover offer but the midwest conglomerate may fall prey to another offer either from gaf or its own management analysts believe
mountain view investment corp phoenix ariz said it acquired maratech communications cos inc
dei anang said the capital increase would help the bank improve its borrowing capacity
mcdonnell douglas corp which has a five mln dlr investment in republic health corp reph said it has not been approached to sell its shares in republic health
new crop corn prices at the chicago board of trade firmed earlier this week on ideas of a large sign up in the program despite the fact that acres enrolled are generally poor yielding and not likely to make a substantial difference to final production figures
the regions principal debtors are brazil and mexico each owing about 100 billion dlrs at the end of last year followed by argentina with around 49 billion dlrs venezuela with 33 billion and chile with 20 billion dlrs debt
the company did not elaborate on production figures for the property
palmer said the cabinet was happy with the statement from commonwealth leaders in vancouver that fijis membership of the commonwealth had lapsed
argentina sees quick completion of debt deal
today overnight touched a high of some 11 3 4 pct after the bank took out 228 mln stg of an estimated 300 mln stg shortage
however she noted that most of the southern grain belt had ample snow cover which should have well insulated the majority of crop areas from severe frost damage
quilon chrome complexes and volan bonding agents will be supplied by the plant to du pont under contract
1985 year ended december 28 1985
representatives from petromin have visited ronnskar already we see saudi arabia as the expansion area of the future he said
still to be divested are the process machinery division with sales of 137 mln dlrs and mathews conveyer co with sales of 83 mln dlrs
net buying hit a record 155 billion dlrs last december
peoples heritage phbk to make acquisition
under the proposed comdata recapitalization plan the company would buy up to 10 mln of its common shares at 1325 dlrs each
the cost of living in west germany was provisionally unchanged in march compared with february but fell 02 pct against march 1986 the federal statistics office said
the figure surpassed pdvsas stated goal of 1410 mln bpd and the 1985 export volume of 1371 mln bpd
the 500 mln dlr credit is in the name of the state owned rafidain bank
eurosterling issues continued to rally on the back of general sterling euphoria with the uk currency trading at six month highs on interest rate optimism and the strength of the domestic equity markets
jp industries said its proposed transaction would be financed through borrowings under its available bank lines and a bridge financing facility which donaldson lufkin and jenrette securities corp agreed to arrange
shr primary 66 cts vs 117 dlrs shr diluted 66 cts vs 81 cts net 1220691 vs 1302999 revs 137 mln vs 131 mln avg shrs primary 1859421 vs 1112400 avg shrs diluted 1859421 vs 1826303 note latest net includes tax credits of 565000 dlrs vs 620000 dlrs
no pickup in exploratory drilling is likely for the rest of the decade mitchell said
the tight money policy of bank indonesia the central bank is helping to keep rates high
the slowdown in income growth is likely to cause housing starts to drop by 42 pct this year and a further six pct in 1988 to an annual rate of 163 mln units
terms will be set on april 9 with payment due april 30
effectively foreign companies would be paying the interest margin above libor
the official announcement said this will include the proposal by jardine matheson
unofficial japanese estimates put the impact of the tariffs at 10 billion dlrs and spokesmen for major electronics firms said they would virtually halt exports of products hit by the new taxes
eight primary and registered dealers have undertaken to make markets in order to ensure liquidity he said
on march three it said it agreed in principle to sell its american centennial insurance co beneficial international insurance co consolidated marine and general insurance co ltd consolidated life assurance co ltd wesco insurance co and service general insurance co subsidiaries to a management led group for 98 mln dlrs in notes mostly contingent on performance of the units and 10 mln dlrs in cash
petroleos de venezuela sa will announce within two weeks the name of a foreign consortium it has chosen to help exploit the coal deposits at guasare in western zulia state pdvsa president juan chacin guzman said
ny bank discount borrowings nil in week
the bank of japan sources said the us is putting more weight on the dollar yen rate in terms of judging market stability than on other currencies
in its monthly market report the iwc said it is leaving unchanged its forecast of world wheat production for the coming 1987 88 season at between 520 and 530 mln tonnes against a record 534 mln in 1986 87
miami based wallco manufactures and distributes wallcoverings and showed a pretax profit of 15 mln dlrs on turnover of 37 mln in the year ending june 1986
the company said its proven oil reserves were estimated at 605682 barrels on december 31 up from 186655 barrels a year earlier boosted by discoveries during the year put at 423659 barrels
mci mcic president sees profit improvement
sales rose to 108 billion dlrs from 101 billion dlrs a year earlier
the letter was sent today to us secretary of state george schultz treasury secretary james baker commerce secretary malcolm baldrige and us trade representative clayton yeutter
in a letter from general partners to a
miti has been criticized privately by some japanese semiconductor makers for what they see as heavy handed attempts to ensure the success of the japan us chip pact
they said they expected brazil and colombia to open export registrations for may shipment next week
mercantile stores co inc mst 4th qtr net
the japanese are looking for ways to reduce trade pressures from washington but at the same time theyre demonstating their muscle analyst peck said
the first five years of the loan will have a fixed interest rate slightly above the long term prime rate of the japanese money market with an adjustment in the second five years in accordance with prevailing market rates
falling world oil prices last year helped cause a decline in soviet trade with the west to 130 billion roubles from 1416 billion in 1985
caesars world inc in rejecting a 28 dlr a share takeover bid by new york investor martin sosnoff said it is considering alternatives that include a restructuring of the company and the sale to someone else
sumita also said the economy will show a gradual upturn in the second half of the year if the yen remains stable
you cant discount him said one arbitrager
malaysian 1987 economic growth seen above forecast
a sinking fund beginning in 1998 to retire annually five pct of the debt may be increased by 200 pct at the companys option giving it an estimated minimum life of 1385 years and maximum of 205 years
brazils state oil company petrobras is pledging to export 46 mln cubic meters of fuel or 289 mln barrels in 1987 a company spokesman said
he said air new zealand expects to release its results soon for the year to march 31 1987
e systems esy sets qtrly payout
usda said world trade is expected to fall in 1987 because of large production and stocks but a weaker market should affect competing exporters more than the us the united states has already recovered a substantial share of the european community market and made inroads into markets in the middle east and africa the report said
we are right now producing just slightly over our own consumption level the producers have never enjoyed such high prices yulo said adding sugar was currently selling locally for 320 pesos per picul up from 190 pesos last august
belgium plans to outlaw insider trading
the meeting aims to set rules for the operation of the pacts buffer stock which producers hope will boost a market hit by successive world cocoa surpluses
us senator to propose 0 92 for 1987 crops
the federal home loan bank board fhlbb announced the acquisiton of south bay savings amp loan association in gardena calif by standard pacific savings of costa mesa calif
analysts said the small amount raised on the last issue was because it was a return to a split maturity issue seen as only attractive to domestic institutions from bullet loans
period
resers fine foods inc said certain directors and officers who currently represent about 85 pct of the companys stock plan to take resers private through a cash buyout
coffee quota talks continue no accord seen likely
the securities are guaranteed by parent company schleswig holstein landesbank girozentrale and will be listed on the luxembourg stock exchange
qtly div three cts vs three cts prior pay april three record march 13
prime minister yasuhiro nakasone may have been dealt a fatal political blow by the yens renewed rapid rise and the threat of a trade war with the united states political analysts said
some 120 billion francs of the loan will be taken up by members of the issuing consortium comprising major belgian commercial banks and the remaining 30 billion by semi state owned financial institutions
there are also about 6432000 class a shares outstanding but trump said i have no interest in the class a shares each class b share has 100 times the voting power of a class a share
in absolute terms the measure rose to 2232 billion marks in february from 2218 billion in the prior month
the rest will be used up when bonds are issued to absorb advance deposits of 139 billion dlrs from the central provident fund cpf a mandatory pension savings scheme
these investors who must convert yen into sterling through dollars for british securities purchases appear to be buying in london rather than in tokyo a bond manager for a british securities house said
he also doubted the popularity of american express plan to link interest charges on the new optima card to the bank prime lending rate
elders resources ltd began the auction for tmoc about three months ago with an unsuccessful 255 dlrs a share on market offer that has since lapsed
corn and sorghum planting progressed and land preparation was ahead of schedule in the plains despite snowy weather
another uk merchant bank analyst noted that the current vogue for eurosterling enabled several corporate borrowers last month to offer paper priced below comparative gilt yields
scb official olle wessberg said the new figures were based on a more extensive survey of the unemployed which brought sweden into line with the practises recommended by the geneva based international labour organisation
colonial bancgroup said it and the liberty bank of pensacola fla signed a letter of intent for colonial to acquire liberty
honduras seeking pl 480 bulk wheat april 13
sales 650 billion vs 610 billion maintenance gross income 195 billion vs 177 billion program products gross income 140 billion vs 115 billion and rentals and other services 825 mln vs 110 billion
in a summary of its weather and crops bulletin the agency said winds and low soil temperature retarded growth and hampered seeding in arizona
consequently it has funds available for distribution with dividend imputed but is waiting to see the imputation legislation before determining the final payout it said
but there is a limited number of investors right now for the paper he said
minnesota may consider anti takeover amendment
three black workers were killed and seven injured in fighting at a south african zinc refinery last night gold fields of south africa ltd said
i do not believe they have up to this time mulford told a senate banking subcommittee
remaining interest will be deferred until jan 1 1991
they stand at 10 pct now and foreign exchange dealers and analysts expect them to shed another half point in the coming week
bank of korea officials would neither confirm nor deny the yonhap forecast saying only that the bank would issue its own figures later in the week
bank of france to buy first category paper today
new high technology semiconductors are used in supercomputers which are faster and more powerful than existing computers
pier 1 also declared a 125 pct annual dividend increase for the post split common shares
they the bundesbank just dont want to come too much under american fire said chris zwermann currency adviser at swiss bank corp here
the world bank said it has extended loans totalling 241 mln dlrs to niger and zaire to help support economic reforms through structural adjustment programs
production of capital goods fell 2 1 2 pct while output of consumer goods was unchanged
more
indonesia unlikely to import philippines copra
diplomatic sources in bonn said funaro would leave early tomorrow morning for zurich after meeting stoltenberg this evening
swire properties recorded an interim profit of 120 mln dlrs for the first half of 1986 well below 260 mln dlrs for the same 1985 period but analysts said that was due mainly to the low level of completion of new residential flats
moreover fairchilds management is thought to be considering proposing a leveraged buyout of the cupertino calif company analysts said
paribas will also seek authorisation to issue bonds convertible at any moment into ordinary shares which would boost capital by a maximum of five billion francs and up to ten billion francs nominal of bonds redeemable into ordinary shares
it was quoted at 372 today little changed from 37 a year ago
for the paper cut moodys cited a higher risk profile inherent in the companys core business
to save taxes commercial banks mainly foreign banks and some private companies are investing their surplus funds in the tax free bonds he said
the union said that it is firmly against the dart bid because workers have always ended up with a raw deal in the current takeover mania a union statement said we do not intend to allow our members to pick up the tab for supermarket generals executives and the bankers or the dart group who stand to make millions dart is controlled by the haft family of washington which last year made a bid for california based safeway stores inc
while relative exchange rates had a role to play in defusing the threat of protectionism it alone did not offer any solution he said
the cbi said the positive balance between firms expecting production to rise and those forecasting a fall at 34 pct was the highest such figure recorded since 1977
current spot market prices of about 150 dlrs per thousand cubic feet will need to rise to about three dlrs to spur reserve replacement he said
gustaaf francx general manager of monsanto chemical co europe africa said the acquisition would help monsanto to expand its customer base for polyphenyls which are used as components for high temperature heat transfer fluids
usx x unit raises some steel prices
imperials chemical business earned 17 mln dlrs in 1986 compared to three mln dlrs in 1985
cts directors will recommend to shareholders that they approve reimbursement to dca of about 22 mln dlrs in expenses relating to cts and grant dca an option to buy up to 35 pct of cts shares it said
the documents said peso proceeds can be invested in selected industries under the philippines debt equity program
dravo further said it has given the investor group buying dravos river transportation stevedoring and pipe frabrication businesses additional time to structure the necessary permanenty financing and closing is now expected in the third quarter
manila also hopes to tack on another 58 billion dlrs rescheduled in a 1985 accord to any new agreement the officials said
but sims said washington had received assurances that the the arms would not be used elsewhere
the usda secretary met this morning with members of the house foreign affairs committee but the handful of lawmakers present did not ask whether the administration intended to offer moscow a wheat export bonus the aide said
each project consists of a 20 year energy sale agreement it said
blount inc blt 4th qtr net
the figures were nonetheless higher than those for march 1986 28 mln people and 21 pct of the workforce
conable also told the gathering of mostly commericial bankers that in order for the baker debt initiative to work all parties to the program must be on board
soyabean exports rose to 119400 tonnes actual weight from 73200 tonnes
cathay is expected to pay a 13 cent final dividend making a total of 19 cents for the year as forecast in the prospectus analysts polled by said
the icco indicator price is calculated from the average of the second third and fourth positions on the london and new york futures markets
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
parker drilling pkd suspends payout
he also said the first quarter estimates were 70 pct higher than 1986s first quarter net of 29 cts per share
the company named thomson mckinnon securities inc as lead manager and painewebber inc as co manager of the offering
american cablesystems corp said it agreed in principal to buy a cable television system in los angeles county from heritage communications inc hci for 155 mln dlrs
allied named drexel burnham lambert inc and donaldson lufkin and jenrette securities corp as co underwriters of both offerings
cable and wireless which holds a 20 pct stake in one of the two japanese firms is opposed to plans to reduce its share to three pct in the merged firm director of corporate strategy jonathan solomon told reporters
it is emphasizing its new focus by changing its name to allegis as of may one
the governor said canadas banking system remains sound despite recent concern about exposure by the countrys banks in debt plagued countries such as brazil
nonetheless gorbachevs program appears too ambitious on a number of counts the report said
falling inflation is likely to give significant scope for reductions in nominal interest rates real interest rates are also expected to ease albeit slightly as the balance of payments deficit and hence the call on overseas capital falls away the nzier said
aegon said this was due to a change in accounting for us annuities
the sources warned that maybe the price of a barrel of oil will fall below 18 perhaps 1780 dlrs this week or next if there is no control on supplies it said
the scheme will pay for the disposal of one mln tonnes of unwanted butter by selling it at knock down prices turning it into animal feed or exporting it at subsidised prices
conagra said it also completed the previously announced acquisition of bristol monarch corp and that trident completed the purchase of the remaining 50 pct stake of san juan seafoods inc
according to gaviria colombia can hope to earn about 1500 mln dlrs this calendar year from coffee exports which traditionally account for 55 pct of the countrys total export revenue
commenting on press reports about the 50 mln dlr price tag black said that would not be wildly inaccurate although he declined to disclose the actual cost
in an interview eyskens said he felt the paris accord between the united states japan west germany france britain and canada had proved itself more or less workable but doubts over its effectiveness and durability have been growing since fears of a trade war between the united states and japan over computer microchips pushed the dollar to a record low against the surging yen early this week
the consensus among administration officials seems to be that brazils latest debt crisis is the result of the domestic economic problems
according to the restructured accord this would work out at around 25 billion dlrs
however the plan unveiled by senior federation of economic organizations official fumio watanabe does not specify what stake cable and wireless would have
this drain was offset in part by new currency swaps which had the effect of increasing the national banks foreign exchange holdings
fairly hectic week in raw sugar woodhouse says
the stock is being offered at 2250 dlrs per share the company said
if you want my objective view i dont expect a drastic improvement in our trade imbalance
he said two floating cranes were unable to begin lifting the sunken tug orinoko and its lighter because the water level had reached 815 centimetres and was forecast to rise to 820 830 cm by tomorrow
acme electric corp ace 1st qtr oct two
the western industrialised nations have agreed reforms in rules by which they provide credit for exports to developing countries the organisation for economic cooperation and development said
retail sales will tell us whether or not we will be able to fill the gap gibbs said referring to a chart gap in june bonds between 100 26 32 and 101 3 32 created friday
a total 55 mln stg of the grant is allocated for the supply of goods and services from britain
the remaining one billion dlrs is in the form of a co financing with the world bank which will guarantee 500 mln dlrs
arbitragers had said they believed the hutton offer could be bettered because the wall street firm was not planning to keep its cash tied up in purolator
the specific offer by transcanada is just in the course of being made and we dont have the details of all the elements of the proposal wilson told the house of commons daily question period
people here understand gold and they understand warrants he said
balladur was one of the main architects of the louvre accord and has invested considerable political capital in defending them
in a statement commenting on the rise last month after a 05 pct january decline baldrige noted the leading index was rising at an 80 pct annual rate in the six months to the end of february
it means that since there will be a net drain on oda official development assistance accounts the commercial banking system will be requested to hold the line he said
healthcare services of america inc said it will write off about 16 mln dlrs in non recurring expenses in 1986
de groote also said waste services in fiscal 1987 will represent about 49 pct of revenues school buses will contribute 49 pct and trucking about two pct
infinity broadcasting corp said it entered an agreement to acquire radio stations kvil am fm from sconninx broadcasting co for 82 mln dlrs
shr 154 dlrs vs 127 dlrs net 7065000 vs 5812000 nine mths shr 425 dlrs vs 340 dlrs net 195 mln vs 156 mln assets 284 billion vs 187 billion deposits 251 billion vs 167 billion note 1987 qtr and nine mths includes gain 2500000 dlrs or 54 cts per share from utilization of tax loss carryforward
carolin said the results sharply disagreed with an earlier assay performed by intergold usa inc which showed 10 ounce of gold per ton and 050 ounce of platinum per ton
todays announcement came before a departure later today of a 15 member taiwan delegation for washington for a series of trade talks with us officials
magic years child care and learning centers inc said it signed a letter of intent to acquire three profitable day care centers in south central pennsylvania for a total price of 350000 dlrs
purolator agreed in late february to a 35 dlr a share 265 mln dlr offer from ef hutton lbo inc and certain members of its purolator courier divisions management
the market is expecting prices particularly wheat to stay buoyant for the remaining few months of the season
antara reported that siregar said the government wanted to help boost exports from the rubber and palm oil industries which are centered in sumatra
group has 51 pct of unicorp american uac 
by changing the definition of subsidy under us countervailing duty law house of representatives bill 3 removes protection for companies that take advantage of widely used government programs zimmerman told a media briefing
transcanada canadas largest natural gas pipeline operator said it is offering dome a package of cash common and preferred shares and shares in a new subsidiary which would own and operate domes assets
also insect damage to crops could be more extensive where excessive moisture exists it said
in response to enquiries from he said his company had raised the minimum price for its spot sales from 240 dlrs per flask following talks with enof
the consensus is that the chinese will buy between 200000 and 400000 tonnes of raw sugar
oecd directors are expected to approve the release at a meeting in mid may
company was formed dec 30 1985
chien said taiwans trade will reach 80 billion us dlrs this year compared with 6396 billion last year
he said the world bank would meanwhile look at investment requirements for potential export earning projects such as gold mining timber oil and kaolin
the immediate result was a 09 pct rise in consumer prices in january partly responsible for a forced revision in the official 1987 inflation forecast to 25 pct from two pct or less
southdown sdw downgraded by s p
malaysian and indonesian palm oil production is likely to drop sharply this year due to lower yields the hamburg based newsletter oil world said
niagara mohawk nmk debt downgraded by moodys
canadian oil exports rose 20 pct in 1986 over the previous year to 3396 mln cubic meters while oil imports soared 252 pct to 2058 mln cubic meters statistics canada said
western diplomats and economists have said the chinese authorities are having trouble finding a suitable alternative
linde turnover up in first two months of 1987
it added that an additional 500000 shares is for overallotments
in an official notice released today the bank said there will be no formal or informal underwriting arrangement for the auctions but the bank encourages all gilt edged market makers as part of their commitment to the market to participate actively in the auction process the bank was originally believed to have favoured requiring the dealers to underwrite auctions which are patterned after those in the us treasury market
rainbow lifts progressive stake to 52 pct
earlier the bank estimated the shortage in the system today at some 105 billion stg
in addition multifoods is seeking to stop bregman partners from acquiring any more stock or voting the shares it reportedly owns the suit said
he said it was too soon to estimate the financial value of the two ventures
first federal had assets of 1152 mln dlrs
bass group has stake in bell and howell bhw 
the company cited its improved earnings outlook and continued strong cash flow as reasons for raising the dividend
the bank noted that hungary which until recently had given telecommunications low priority recognized that inadequate telecommunications are a serious constraint to economic development and reform
capacity utilization for mining rose to 753 pct in february from 751 pct in january but was below the february 1986 rate of 794 pct the fed said
earlier today harper said a recently appointed special committee of independent directors had received expressions of interest from several domestic and foreign firms with respect to restructuring or acquisition transactions
it has an average life of 711 years and matures 2018
gains in goods producing jobs were subdued at best
but the government has ruled out a price rise
proceeds will be for general needs
a fall in short rates would make the public aware of the high yields in bonds and lead to a longer term capital formation braking the expansion of money supply
cathay pacific forecasts good 1987 performance
swiss national bank president pierre languetin said a wider interest rate differential between the dollar and stronger currencies was needed to brake the dollars fall
the coupon has been set at five pct and conversion price at 74 dlrs per share which represents a 2385 pct premium over genentechs stock closing level of 5975 on the new york stock exchange last night
rte corp rte buys emhart corp unit
last year the company earned 70 cts a share
parent turnover fell 85 pct to 1872 billion
juergen becker director of the bundesbanks division of banking law and credit supervision said the us british proposals were interesting but declined to elaborate
the finnish metal and mining group outokumpu oy said it will close its nickel refinery at harjavalta in central finland for six weeks in july and august this year due to current low prices on the nickel market
first quarter sales in domestic markets advanced 115 pct to 688 mln dlrs while international sales jumped 271 pct to 316 mln dlrs abbott said
subscriptions close march 23
i think they are beginning to appreciate that if this relationship is to continue it is very important for them to be fair and open about access to their own markets on the question of the british firm cable and wireless plc cawll which is trying to win a significant share of telecommunications contracts in japan howard said he had told the japanese this was being widely regarded as a test case
the national strike had been tailing off since mid march as seamen struck individual accords with companies
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
rent a center rent votes 3 for 2 split
in a statement the company said the uk agribusiness group reported excellent profits growth while health products profits rose to 65 mln from 54 mln
the shares also will be exchangeable into gould convertible subordinated debentures at a rate of 50 dlrs principal amount per debenture
judys inc judy 4th qtr jan 31 loss
copley properties inc cop 4th qtr net
on selected occasions when the dollar seems steady and because the trade deficit is not responding the united states decided to push germany and japan harder to meet their commitments to economic growth the federal reserve will do its part by moving rates down wojnilower said in a report
he told reporters after meeting with president suharto that present weakness in the spot oil market was the result of warmer weather in the us and europe which reduced demand for oil
february merchandise trade recorded a 42 mln dlr surplus against a 246 mln shortfall revised from 287 mln in january and a 162 mln deficit in february 1986
a spokesman for the west german automobile association adac said the adac magazine in a recent edition described advantages of the new tyre
in its weekly petroleum status report the energy department agency said distillate demand was down 21 pct in the period to 337 mln bpd from 344 mln a year earlier
even classic fixed rate issues after being neglected since the end of last year are finding buyers one banker said
it said it and the toussie viner group with which it made the merger offer were assessing their options regarding the hecks investment
the plants will be closed for a week starting august six for inventory adjustment
the federal home loan bank board had closed first federal on march 20 because it was insolvent
african bank official confident on loan repayments
herrington said of the increased depletion allowance option that is one that could significantly increase production at a very low cost to the american taxpayer he again rejected an oil import fee as far too costly to the overall us economy
dealers said they expected the bundesbank to allocate funds tomorrow in the latest repurchase pact at an unchanged 355 pct after setting an unchanged minimum bid rate of 350 pct and to fully replace the 55 billion marks in an outgoing pact
british petroleum plc bp and royal dutch shell group rd have also been mentioned as possible suitors for dome
the brazilian coffee institute ibc gave details of its plans to pay the 18 companies that bought 630000 bags of robusta coffee in the london market on its behalf last september
our entry in long distance would further stimulate competition staley said
aug was trading at 15760 dlrs from 15740 asked yesterday
if accepted by the consumer and producer members of the ico the formula could also be a basis for negotiating a new agreement van horick said
realty south investors inc rsi year net
our priority is to get cash flow increased from the assets already installed he said but he declined to estimate annual cash flow for 1987
bfim sovac offers bond redemption
the february index was down one pct from a year earlier for the third consecutive year on year drop
firm has coopervision eye stock will buy more
but it has taken almost six months to complete the syndication of a 75 billion dlrs loan to mexico which has created deep misgivings here about the liklihood of such large straight cash loans being assembled ever again
global petroleum corp said today it raised the posted cargo prices for number six fuel in the new york harbor 20 cts to 145 dlrs a barrel effective today
the fitness rfit buys livingwell unit
chrysler the number three us automaker has said the merger is motivated principally by its desire to acquire amcs profitable jeep business and dealers as well as a new modern car assembly plant in bramalea ontario
alpine a limited partnership said it bought the stock for 281 mln dlrs as an investment in the ordinary course of its business as a securities dealer
raimond said negotiations between the two groups took a long time because there were 20 countries involved
that is 1 8 point above sosnoffs offer price
pakistani officials estimate the countrys cotton output from the current crop at a record 76 mln bales 375 pounds each last years output totalled 72 mln bales and domestic consumption was just below three mln bales they said
completion of the sale and recent sales of substantially all the assets of the companys 50 pct owned affiliate gmw industries inc are expected to result in a net gain of about nine mln dlrs in the first quarter of 1987
minorco mnrcy sees improved second half
company officials unveiled the following plans nec corp nesit japans largest chipmaker plans to slash production of 256k dram semiconductors by 2941 pct to six mln per month from a monthly average of 85 mln last quarter
nppc delegates approve disease and drug programs
goldman sachs and co ran the books on that deal with first boston acting as co manager
scor us corp sure 4th qtr net
gm shares rose 3 1 2 to 79 1 8 in active trading
bilzerian said he and a tampa fla investment firm he controls called bicoastal financial corp may acquire additional shares or they may seek to acquire one or more positions on pay n paks board of directors or to acquire a controlling interest in the companys shares by tender offer or otherwise the statement was made in a filing with the securities and exchange commission
vw has said computer programs were erased and documents were faked in the alleged fraud in which it believes transactions intended to protect it against possible foreign currency losses were not completed
markel corp makl 4th qtr net
the january surplus originally was reported at 533 mln dlrs
bank of japan intervening to support dollar against yen dealers
according to official yugoslav figures yugoslavia repaid a record 597 billion dlrs in capital and interest in 1986
fees of 2 1 2 pct comprise 1 1 2 pct for selling and one pct for management and underwriting combined
in addition columbia said it will call for the optional sinking fund redemption on may 1 1987 the 47 mln dlrs principal amount of the 9 1 8 debentures and 75 mln dlrs of the 10 1 4 pct debentures
bids totalled 19758 billion yen
but in the longer term domestic yields could rise under agreements to stimulate west germanys economy they said
but marcano said the bulk of payments to be made this year are on private debts and non rescheduled public debts
production costs are about 56 to 57 cents a pound now compared to one dlr a pound in 1981 some wall st analysts said
usda estimates 1986 87 ussr grain imports 280 mln tonnes vs 260 in march 299 year ago
schmidt chiari made the forecast at a news conference when the bank announced a 1986 consolidated banking group net profit of 4967 mln schillings for 1986 against 3545 mln in 1985
a container berth and two timber and three general cargo berths will be added during the current 1986 90 five year plan jiang said
csce restructures coffee futures daily limits
yellow freight yell sees lower 1st qtr net
this deal was rated a 2 by moodys and aa minus by standard and poors
a group of latin american and caribbean nations formally opposed trade legislation pending in congress saying it would curb their exports slow development and hinder its ability to repay foreign debt
campbell red lake mines ltd crk qtly div
although mark iv has an overall favorable business standing the acquisition would impair earnings and cash flow protection s and p said
but private economists raise concerns about a resurgence in inflation
it said debentures will be purchased at 111830 dlrs per 1000 dlrs principal amount plus accrued interest
petro canada a state owned oil company raised the posting prices of sweet and sour crude oils 32 cts canadian per barrel effective today the company said
instinet said it expects the merger to become effective as soon as possible after shareholder approval at the special meeting
valero energy corp vlo said valero natural gas partners lp was making an initial public offering of 95 mln units at 2275 dlrs a unit
rounding out the deal the banks have agreed to prolong six billion dlrs of trade lines and to refinance some 10 billion dlrs of private sector debt that comes under the mexican governments exchange guarantee scheme ficorca
initially the rights are not exerciseable rights certificates are not distributed and the rights automatically trade with northeasts shares the company said
shamrock completes central soya sale to ferruzzi
as of february 28 fas had 790 full time employees a fas spokesman said
spain will shortly sign with saudi arabia an order for barley for april may delivery trade sources said
the company which owns and franchises a total of 237 clothing outlets where all articles cost six dlrs will increase that figure to seven dlrs starting march 1 schenker said
traders said this weeks sharp fall in world sugar prices helped to provoke the soviet union into covering nearby needs
the relatively high level of real us interest rates suggests that there is scope for further declines in money market rates but the federal reserve is unlikely to promote such a drop as long as the dollar remains volatile said jp morgan and co inc chairman lewis preston
the association said rice growing areas in nakhon ratchasima chaiyaphum khon kaen and mahasarakam were especially affected by low rainfalls in the second half of 1986
us trade representative clayton yeutter said trade ministers meeting here have reached a general consensus on agricultural trade reform under the latest uruguay round of the general agreement on tariffs and trade gatt yeutter gave no precise details of the understanding but told journalists the consensus covers the principles involved in agricultural trade reform and what needs to be done to improve the global situation in agriculture
the maturities will be 1990 1992 and 1994
this practice was stopped in 1986 when the central government resumed control of imports
he said the most significant sign of recovery lay in the manufacturing sector which grew by 964 pct after declines in 1985 and a slow turnaround in the second half of 1986
sogenals privatisation will be preceded by a capital increase to 320 mln francs from 263 mln earning about 250 mln francs in new funds
in 1986 a large number of new insurance products emerged in the netherlands and the us aegon said
the issue has denominations of 1000 guilders
the company said the acquisition of the portion of the shares over a five pct interest is subject to approval by the alabama department of insurance
high interest rates sluggish global economic growth and creeping protectionism are deepening the third world debt crisis senior mexican officials said
each new casino must conduct a limited bet day before opening for regular gaming
one of those attending the talks was mario amato head of the powerful sao paulo state industries federation fiesp business sources said he would argue that unless there were a relaxation in import controls a sharp downturn in industrial activity was inevitable
vermont financial services vfsc sets payout
the intervention took place when the dollar fell to 14320 yen one dealer said
production in 1985 86 is projected at 10000 mln tonnes vs 9999 mln tonnes last month
lead manager for the issue bank of tokyo said the deal at the time of pricing was to yield 60 basis points over comparable maturity treasuries
bp now owns 55 pct of standards stock
the experts recommended the campaign be funded mostly by the governments of the five nations with help from the fao
its natural for investors to want the highest yield for the lowest price
they said the south african finance ministry is expected to make a statement on the agreement later today
the commerce department had already ruled that the imports were unfairly priced and lowered to 196 pct the anti dumping margin that in a preliminary decision last fall had been set at 85 pct vastagh said
the utility said it plans to issue a 35 mln dlr 76 pct first mortgage bond series nn due 2012 to the city of princeton ind
a group of companies including chicago based coronet insurance co and sunstates corp a jacksonville fla real estate firm said it raised its stake in tandy brands inc to 175900 shares or 69 pct of the total
it agreed recently to sell its canadian courier unit to onex capital for 170 mln dlrs and previously sold its auto filters business
morning weakness in sterling and the gilt market was largely attributed to a newspaper opinion poll showing that the conservative governments support was slipping
non callable to maturity the issue is rated aa 2 by moodys investors service inc
the washington post said the us commerce department yesterday issued a new report showing that the us merchandise trade deficit was 1365 billion dollars in february a reduction of 14 billion dlrs from the 1506 billion figure the department reported only two days earlier
mitsubishi heavy c
no further details of the sale were available
a request by four foreign banks to join the bond underwriting syndicate is being considered banking sources said
tandy brands also said it completed a new two year credit agreement citicorps cci citibank and mcorps m mbank fort worth providing working capital lines and letters of credit of 15 mln dlrs in year one and 21 mln dlrs in year two
london traders say the european community is likely to award a maximum rebate of 4680 european currency units per 100 kilos at todays tender while traders in paris predict a maximum award of 4640 ecus
he told a senate banking subcommittee the group of five nations and canada agreed in paris to see if there cant be a period of reasonable stability instead of volatility to give time for the committments in paris to take place
the senates democratic and republican leaders praised president reagan for retaliating against japan for violating a semiconducter accord but dashed cold water on ideas it was the first shot in a trade war
however this practice is likely to dwindle given the reduced scale of production they said
i profoundly believe in the market system as the best way for securing economic prosperity but that does not mean to say the markets are infallible my advice to small investors is to remain calm
monetary sources said policymakers understood markets were focusing on instability created by the gap between the us trade deficit and the surpluses of west germany and japan rather than prospective policy changes
the facility which can only be cancelled after underwriters provide 61 months notice to the borrower will refinance some of mountleighs existing debt
scientific micro smsi sees higher revenues
cyclops has agreed to be acquired dixons group which has a 9025 dlrs a share tender offer for cyclops outstanding
innopac inc six mths february 28 net
gabelli group inc said it and two subsidiaries held a total of 295800 decision capital fund inc shares or 148 pct of the total outstanding
the subcommittee and the fda have acknowledged they are conducting separate investigations to determine whether or not icn witheld data from the fda on adverse reactions to the drug
offers are due by 1200 hrs est march 26 and will remain valid until the close of business the following day the agent said
besides being the sole owner of mts acquisition sosnoff owns 61 pct of atalanta sosnoff capital corps atl stock and is chairman of that investment management and brokerage firm
the firm named morgan stanley and co inc as lead agent of the program with merrill lynch capital markets and salomon brothers inc as co agents
one source said poehls remarks also underlined the fact that the bundesbank was now more prepared to be accommodative in monetary policy in order to prevent a further slowdown in west germanys economic growth
italys gruppo ferruzzi is in the advanced stages of negotiations that could result in an acquisition worth some hundreds of billions of lire in the european agro industrial sector a company spokesman told 
we will react to market factors adequately and colombia has no intention of giving its coffee away colombias past records should be the basis for upcoming exports he said
a lasting stability in the world market requires a wider scope of international cooperation he said
health images inc himg 4th qtr loss
gnp includes such payments or outflows
simultaneously efforts for spread of improved technology including timely use of inputs farm materials like fertilisers in adequate quantities have to be vigrously pursued it said
oper shr 25 cts vs 121 dlrs oper net 1366000 vs 6287000 revs 2513 mln vs 1071 mln year oper shr 110 dlrs vs 106 dlrs oper net 5552000 vs 4982000 revs 8275 mln vs 4344 mln note oper net excludes results of kay jewelers inc a former subsidiary
it said the project also seeks to reduce agricultural nutrient imbalances by building the capacity for phosphate fertilizer production and to improve institutional efficiency by introducing modern economic financial and operational systems and techniques
ael industries aelna 4th qtr feb 27 net
gould said the proposed new issue will be underwritten by first boston corp and kidder peabody and co inc
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
general merchandise store sales gained 14 pct after a 16 pct rise in january
lennar corp said it completed the previously announced acquisition of development corp of america dca consequently it said the american stock exchange suspended trading of development corps common stock 10 pct subordinated debentures due 1993 and 12 pct subordinated debentures due 1994
soybean crushings during 1986 87 1130 vs 1115 last month
this brings the banks total help today to some 134 billion stg and satisfies the estimated shortage in the system today which it had earlier estimated at 13 billion stg
teva said it will continue to market promedicos products through its wholly owned subsidiary salomon levin and elstein ltd
the num was not immediately available for comment on the action
rodman and renshaw completed its initial public offering of 15 mln common shares in june 1986
two weeks ago before the study was completed contel announced it would seek to terminate the proposed merger
actual prices were not reported but the wheat was sold at or above the march intervention price of 11917 stg per tonne
the two firms took note with regret that prices quoted by some specialised publications do not reflect the reality of the whole market since they take into account only part of the deals made a statement by enof said
us energy chief rules out gasoline tax as way to avert pending oil crisis
current year net both periods includes gain six cts shr from plywood manufacturers litigation settlement
if the bank of england keeps the interest rates as they are whats to stop it going higher said john cox executive director of ebc amro bank ltd a major operator on the london foreign exchange market
year to march 31 shr 280p vs 214p final dividend 9p vs 65p making 12p vs 93p pretax profit 5316 mln stg vs 4512 mln turnover 6411 mln stg vs 6397 mln group operating profit 5763 mln stg vs 4906 mln share of associates profits 133 mln stg vs 387 mln investment income 159 mln stg vs 219 mln interest payable 738 mln stg vs 1001 mln tax 1648 mln stg vs 1760 mln leaving 3668 mln vs 2751 minorities debit 158 mln stg vs debit 139 mln extraordinary items credit 295 mln stg vs debit 812 mln operating profits breakdown by class of business building materials manufacture 237 mln stg vs 209 mln distribution 101 mln stg vs 75 mln specialist print and pack 126 mln stg vs 96 mln international 60 mln stg vs 56 mln head office and property 46 mln stg vs 36 mln discontinued sold businesses 589000 stg vs 24 mln operating profits geographic breakdown britain 514 mln stg vs 433 mln africa 33 mln stg vs 34 mln australasia 14 mln stg vs 854000 stg north america 15 mln stg vs 16 mln note full name is norcros plc ncrol
subscriptions remain open until 1300 gmt tomorrow april 9
quarter ended feb 28 shr four cts vs seven cts net 500000 vs 900000 revs 9200000 vs 10500000 year shr four cts vs 12 cts net 600000 vs 1500000 revs 176 mln vs 208 mln
baldrige predicts solid us housing growth
first financial ffmc bids for comdata cdn 
he said the current discussions were a reaffirmation of that agreement saying the solidarity that occurred in paris was still in place
consolidated papers inc cper 1st qtr net
they said sunflower maize and sorghum production estimates had been reduced despite some later warm dry weather which has allowed a return to harvesting in some areas
a leading us farm state congressman jerry huckaby d la warned he will press next year for legislation to control domestic production of sweeteners perhaps including corn sweeteners if the industry fails to voluntarily halt output increases this year
the bills will be issued march 19 in minimum amounts of 10000 dlrs and mature march 17 1988
shr eight cts vs five cts net 1370898 vs 823988 sales 7786730 vs 4383825 avg shrs 17744333 vs 17071236 note per share amounts adjusted for three for two stock splits in april and july 1986
1 1988 bayou stockholders may receive up to an additional two mln dlrs in stock and cash which has not been included in the 88 mln dlrs
the white house welcomed last months 07 pct increase in the index of leading economic indicators the governments key barometer of future economic growth
argentine grain shipping situation
a 15 billion euroyen issue was launched for associates corp of north america paying five pct at 102 3 8 pct due 1992
cts said it charged an additional 28 mln dlrs in special expenses to its 1986 operations as a result of the dynamics corp settlement
shr 37 cts vs eight cts net 120 mln vs 51 mln revs 2801 mln vs 1559 mln backlog 6257 mln vs 4516 mln
first american bank and trust fiama year net
the communique said the ministers reaffirmed the commitment on cooperation reached in a meeting on february 22 in paris when they had agreed to stabilize foreign exchange rates at the then current levels
taft broadcasting has never commented on reports that its major stockholders met recently to discuss a break up of the company
dynascan said the group was projected to provide about 12 pct of its consolidated sales in 1987
tabuchi electric issues 30 mln swiss franc notes
french gross domestic product will grow by only 15 pct in real terms this year compared with the governments forecast of two to 25 pct growth the private institut des previsions economiques et financieres pour le developpement des entreprises ipecode said
no intervention dollar fixed at 18218 marks
the issue is payable on april 15 1987
it said that a turnaround in investor confidence since last november had been spurred by a moderate improvement in oil and commodity prices and a rise in manufacturing exports
a fairchild industries official later said soros had told the company he was not dissatisfied with its management
the 500 mln dlrs of 364 day bills were priced at an average 92969 dlrs against 93159 dlrs last week to yield an average 758 pct versus 738 pct last week
in this respect an easing of protectionist barriers was imperative he said
he said that industrial countries are concerned that the large external imbalances remain a threat to the international monetary system
it said it authorized smith barney harris upham and co to seek a business combination with third parties
the property includes six gas wells one oil well two undeveloped drilling locations a central production facility and a gas gathering system
this weeks ontario government auction of 50 mln dlrs worth of 91 day treasury bills yielded an average of 728 pct up slightly from 726 pct last week a treasury department spokesman said
us first time jobless claims fell in week
barley sold to saudi arabia usda
it said the project will raise its bisphenol a which is used to make polycarbonate and epoxy reins capacity to 192 mln pounds per year from 165 mln pounds now
ec grants 25000 tonnes barley 80000 french maize licences rejects wheat traders
new london airport will offer flights to europe
the usda cautions that reported outstanding sales are subject to modification deferral or cancellation and it is unlikely that all reported quantities will be exported
slifka and co said it bought 201800 purolator common shares between feb 3 and march 2 at prices ranging from 28689 to 34811 dlrs each
toshibas timing is most extraordinary one official at the department of trade and industry dti said
he said comparable store sales in february increased 36 pct
us distillate gasoline inventories seen lower
net 41724 vs 120329 revs 1194556 vs 1504702
the securities are non callable for three years
to expedite the transaction jp industries said it would be willing to start a cash tender for clevites shares within five days after agreeing upon a definitive merger and confirmation of clevites financial results and condition
shr profit 36 cts vs profit 14 cts net profit 1162000 vs profit 464000 revs 166 mln vs 113 mln nine mths shr loss 89 cts vs loss 79 cts net loss 2988000 vs loss 2673000 revs 351 mln vs 251 mln note nine months fiscal 1987 includes extraordinary gain of 16 cts per share
dome petroleum ltd is under pressure from one of its largest creditors canadian imperial bank of commerce to sell its 42 pct stake in encor energy corp ltd energy industry analysts said
metro mobile mmct declares stock dividend
rubbermaid rbd completes acquisitions
doubts about accord seen weakening dollar further
china light unit renews commercial paper facility
conable said the world bank has been pressing developing countries to open their markets arguing that a free trading environment increased the possibility of global economic growth
electro rent corp elrc 3rd qtr feb 28 net
bei holdings ltd beih 1st qtr jan 31 net
net excludes discontinued operations gain 330000 dlrs vs loss 385000 dlrs in quarter and gain 485000 dlrs vs loss 2692000 dlrs in year
net earnings from continuing operations rose to 18 mln dlrs up almost 31 pct from 139 mln dlrs while per share earnings from continuing operations were 222 dlrs up 23 pct from 180 dlrs
shr one cts vs 20 cts net 122556 vs 2627205 revs 1922 mln vs 1933 mln nine mths shr 27 cts vs 56 cts net 3556424 vs 7531664 revs 5606 mln vs 5423 mln
marathon petroleum company a subsidiary of usx corp x said it raised the contract price it pays for three grades of crude oil effective march 6
credit national issues 100 mln dlr eurobond
several traders and analysts here told latin american coffee producers will meet this weekend in managua nicaragua
he said it is highly likely that the final study will show japan has the highest farm subsidies in the world
the two banks have said they eventually wanted to reduce their stake in the shipping group to 15 pct each
the department also said at the request of the north yemen government five mln dlrs in credit guarantees previously earmarked for sales of wheat have been switched to cover sales of mixed poultry feed
ccc accepts export bonus for cattle to egypt
argentina could suspend debt payments deputy
sulpetro loss due to writedowns asset disposals
metromedia unveils new wats service
final 50 50 corn certs seen at 16 billion dlrs
but sumita said he could not say exactly what currency levels would be considered in line with underlying economic fundamentals
in january the nations foreign reserves showed the largest ever monthly increase at 922 billion dlrs due to massive bank of japan dollar buying intervention during the month as the dollar fell briefly to an all time low of 14998 yen on january 19 foreign exchange dealers said
figures released this week show foreigners purchased a record 231 billion dlrs of canadian bonds in 1986 more than double the previous year with japan investing a record 95 billion dlrs in the market
in a filing with the securities and exchange commission industrial equity which is principally owned by brierley investments ltd a publicly held new zealand firm said it bought 263600 calmat common shares between feb 17 and march 9 for 131 mln dlrs
maxtor corp and us design corp usdc said they reached definitive agreement covering the acquisition of us design by maxtor
as the dollar fell to a 40 year low against the yen friday currency traders said the fed and other central banks supported the dollar
the house of representatives appropriations committee yesterday approved 300 mln dlrs in economic aid for four central american states 50 mln dlrs to black led states neighbouring south africa and 50 mln dlrs in military assistance for the philippines
mi tech steel will construct own and operate steel service centers
about 90 mln dlrs of this equivalent to nearly half guyanas annual exports would be owed to the imf
shr 79 cts vs 72 cts net 581915 vs 536040 revs 139 mln vs 133 mln year shr 328 dlrs vs 321 dlrs net 2413407 vs 2360048 revs 549 mln vs 542 mln
goodyear tire and rubber co said it expects to sell its celeron corp oil and gas subsidiary for about two billion dlrs in about two months
the embassy noted the ministry of trade tightened quality controls on tea in october 1986 in an effort to become more competititve in the world market
the british petroleum bpl co plcs refinery at grangemouth scotland shut down after an explosion and fire in the hydrocracker on march 22 will probably be back in operation towards the week end a refinery spokesman said
production of one trillion cubic feet offset much of these gains the report said
she added that even though placements came in above the average trade guess many traders had expected high placements
the sale is expected to be completed on or before november one and is subject to meeting certain conditions
kuwait has an opec quota of 948000 barrels per day bpd compared with production capacity of 40 mln bpd mentioned last year by oil minister sheikh ali al khalifa al sabah
indias castor oil exports are provisionally estimated at 30000 tonnes in fiscal 1986 87 ending march 31 against 54000 tonnes in 1985 86 due to a shortfall in the domestic castorseed crop private traders said
republic pictures corp rpica 4th qtr loss
it gave no more details
sroka said world coffee prices are expected to remain weak if any international coffee talks fail to produce agreement
traders noted that activity in the stock increased today after a published report linked pickens to tenneco
yaacobi said that tensions among the nations of the middle east was one of the main reasons israel had not yet been able to achieve its economic potential
northwest aluminum co said it will open a second pot line in mid may bringing the smelter here to 80 pct of its production capacity
governor spencer russell said in a statement the central bank did not accept arguments that the battle against inflation should now take a low second priority after the sharemarkets plunge
analysts however said icahn would have to prove he is serious by following through with his threats or making a new offer
they added that the foreign exchange markest seem to seize on anything to use as an excuse to drive the dollar one way or the other
net 65 mln vs 57 mln year shr preferred 1487 dlrs vs 1251 dlrs shr common 23677 dlrs vs 19740 dlrs net 247 mln vs 208 mln note federal home loan mortgage corp
earlier this year pyongyang tried and failed to pay off part of its debt with several tonnes of fish
but most analysts polled said they did not believe lawsons statement signalled a change in uk policy
april heating oil was 147 cts higher to 4791 cts a gallon
key centurion bancshares inc said it has completed the previously announced acquisitions of union bancorp of west virginia inc and wayne bancorp inc
in denmark the oecd said wage settlements concluded in early 1987 were likely to contribute to a marked deterioration in competitiveness
polands winter wheat is likely to survive recent frosts but the impact of the cold will not be known until late april the polish meteorology institute said
net 1986 profit 1326 mln guilders vs 1173 mln turnover 16 billion guilders vs same earnings per share 1600 guilders vs 1580 on capital expanded by 11 pct to 821 mln outstanding shares
yeutter said the pressures for congress to act were hard to resist but the pending legislation would undermine president reagans efforts to liberalize the world trade
proceeds will be used to reduce floating rate bank debt incurred in connection with the acquisition of 82 pct of sealy inc through the purchase of seven sealy licensees in december 1986 for 262 mln dlrs in cash ohio mattress said
danish crops two weeks behind official report
domestic soybean production is forecast to rise steadily to 108 mln tonnes in 1987 88 from 980000 in the current year and 890000 in 1985 86 the report said
bank of new england said morgan stanley keefe bruyette goldman sachs and merrill lynch will underwrite the issue
burlington industries inc said it filed with the securities and exchange commission registration statements covering two offerings of debt securities
malaysias 1987 current account is expected to be in the black with the central bank projecting a 500 mln ringgit surplus compared with last years 12 billion ringgit deficit
will this still be so at 138 or 130 asked republics cohen
equiticorp tasman to bid for monier ltd
the selling concession is one pct while management and underwriting combined will pay 1 2 pct
but it held over for the full ways and means committee debate on a controversial plan by rep
us banking regulations do not require banks to stop accruing interest on loans until payments are 90 days overdue but bankers trust said it acted now because of the high potential of a continued suspension that would result in reaching the 90 day limit in the second quarter of 1987 assuming no cash payments at current interest rates are received for the rest of 1987 bankers trust estimated that full year net income would be reduced by about 30 mln dlrs
january 1986 imports compared with 153 billion guilders in december and fell 18 pct from 174 billion in january last year
abidjan port activity rises
others like the philippines and chile are privatizing companies and swapping debt for equity
guinness plc guinl said it has completed the sale of subsidiaries martin ctn group plc and drummonds pharmacy group plc total consideration was 2326 mln stg subject to adjustment on final audit which is expected to add 12 mln stg guinness said
rlr financial rlrf wont be delisted
lukman sees stable oil price for next couple years
but it said selling general and administrative expense eased to 232 pct of sales from 237 pct in 1985
baker however said the imf needs to move beyond macroeconomic indicators and find structural indicators that can help focus attention on some of the policies of specific relevance to the imbalances we face today the treasury secretary said that indicators should be given a more prominent role in the annual economic reviews article iv consultations that the fund performs
the issue will have an initial three year life and the issuer has the right to make two three year extensions and a further one year extension to 1997
tenneco inc said its newport news shipbuilding subsidiary has completed the purchase of the sperry marine systems division of unisys corp for about 70 mln dlrs
also helping to bring supply and demand into balance has been the gradual market absorption of the extra chemical manufacturing capacity created by middle eastern oil producers in the early 1980s
italian barley crop reported in good condition
frances economic performance led by a mixed cast of right wing ministers and a socialist president has won mixed reviews from non partisan analysts
brazilian finance ministry sources said in brasilia yesterday that the country was preparing a new economic strategy designed to ensure domestic economic growth
they said nigeria which holds the opec conference presidency and qatar probably have the biggest grievances about price differentials making some of their crudes uncompetitive
the money market head said the unions humiliation by the protracted financial problems of the neue heimat cooperative housing venture would contribute to union obstinacy
current law requires the united states to vote against such loans but carries no reprisals if they pass anyway
cuba was reported to be carrying 13 mln tonnes of stocks in september 1985 of which some 440000 tonnes were used to boost its 1985 86 exports to about 69 mln
cronus industries inc crns sells unit
it said the vessel had capsized after a collision but gave no more details
a lot of small money has come back in but the big money is holding out until after april one us banker said
fat and oil bearing raw materials imports rose to 760000 from 709200 tonnes on a fat oil basis and to 347 mln tonnes actual weight from 332 mln
meanwhile opinion is divided over whether the bank can stop a cut before budget day march 17 and why it should want to
homestead financial corp hfl 3rd qtr net
brazilian authorities have no more interest in seeing their credit sources cut off then we have in seeing their obligations stop he added
chemlawn has b 1 convertible debt
but recently demands for more stringent and justifiable pacts with emphasis placed on the need for intellectual honesty and objective criteria have grown
in the past volcker has joked that he never lost sleep worrying whether congress would cut too much fat from the federal budget
progress at rubber pact talks reported slow
dome reported it took a 120 billion charge in the fourth quarter before a 305 mln dlr reduction in deferred income taxes for the decline in value of domes oil and gas properties
thats very important it shows the economy in a very good state indeed skeoch said
japans little known ministry of posts and telecommunications mpt has emerged as an international force to be reckoned with political analysts said
its that time of year
the company was commenting on 1986 results which showed pre tax profit rising to 549 mln stg from 334 mln previously on turnover that lifted to 170 billion from 113 billion
progressive reductions in the us quotas have led to production stagnating or falling rather than being shifted to the free world market
the sources said the main value of the us uk proposals lay in differentiating between different types of risk factor and for instance in placing greater weight on currency swaps than interest swaps
experts had expressed fears over ro ro safety
ing pointed out that the tse gold index has gained 51 pct since december 31 1986 while the price of bullion has increased six pct
world oilseed stocks also are expected to fall in the course of the next season with the biggest reduction seen in soybean stocks which mielke expects to decline by 50 mln tonnes or by one fifth
the british conservative government will on thursday consider what legal options are available to it to try to increase uk access to japanese markets officials said
corrected manhattan national corp mlc 4th
kloeckner und cos 1986 profit falls about 20 pct
industrial equity pacific which currently holds 583 mln calmat common shares said it is also evaluating the companys recently adopted shareholder rights plan and its potential effect on calmat and on possible acquisition proposals made to the company
shr 101 dlrs vs 108 dlrs net 21983000 vs 23434000 sales 1749 mln vs 1617 mln
a relaxed sun tanned figure who enjoys cracking jokes over a glass of beer he is hardly a stereotype central banker
a senior central bank official said that such methods as controlling foreign exchange deals and invoking currency swap agreements with other central banks which have not been invoked since 1978 are all being considered
occidental oxy sells 33 mln common shares
proceeds will be used to repay in full the companys indebtedness under a revolving credit agreement and to reduce other bank debt stanley said
but the french banks plan which would effectively postpone repayment of about 30 mln dlrs of the loan for several months is running into stiff resistance from many of the 52 members of the loan syndicate
the banks are likely to push for a higher margin
he said this explained the increase in the adjusted statistics
in the face of short term uncertainty many companies have pared 1987 spending plans from last years lower levels deferring most frontier exploration work
she said the surplus of 597 mln pesos compared with a deficit of 390 mln pesos a month earlier and a deficit of 164 billion at the end of 1985 reflected political uncertainty in the last quarter of 1986
de kock said south africa had negotiated from a position of basic economic financial strength we were never overborrowed to begin with and we are now underborrowed by all international criteria that ive ever heard of he said
in a filing with the securities and exchange commission louart said it bought 73000 certron shares between sept 9 and march 6 at a total of 109315 dlrs a share
revenues include progress receivables on long term contracts not billed to customers and reflect the proportionate elements of profit as revenues based on stage of completion of long term contracts
harcourt which is fighting off a takeover bid from british printing and communication corp plc has declared a special dividend on common stock of 40 dlrs in cash and 12 pct preferred stock with a market value of 10 dlrs per share
but the december rate of 406 mln units had been the highest since the record 415 mln unit sales rate set in november 1978 the group said
this led for instance to the introduction of a tighter monetary stance from the beginning of december until the half point cut in rates in late january
trade department officials said the improvement in britains current account contrasted with most private forecasts and they attributed much of the strength to imports rising less quickly in february than might otherwise have been expected
dutch cocoa processors unhappy with icco buffer
a confidential world bank report on the peruvian economy said the governments strategy does not offer good prospects for medium and long term growth and is likely to quickly lead to inflation
honduras will tender april 2 for us and non us flag vessels to import 19369 tonnes of wheat in bulk an agent for the country said
other extraordinary items were 633 mln dlrs provided for closures and writedown of assets and a 141 mln increase in future tax provisions cra said
management science america inc msaio 1st qtr
shr one ct vs 14 cts qtly div 11 1 2 cts vs 11 1 2 cts prior net 411000 vs 5299000 revs 885 mln vs 1084 mln note dividend pay may 18 record may one
welbilt welbo acquires food handling systems
the partnership is controlled by alfred lerner and a subsidiary of the progressive corp prog is the limited partner according to the company
todays announcement came before a departure later today of a 15 member taiwan delegation for washington for a series of trade talks with us officials
in a filing with the securities and exchange commission wedge said it bought 123200 tvx common shares at prices ranging from 800 to 10625 dlrs a share
fendt said the rise in imports in february to 127 billion dlrs from 112 billion in february last year was in line with government plans to foster economic growth
state owned air canada takes over the countrys second largest overnight courier business just two months after another canadian company onex capital corp ltd approved the acquisition of number one ranked purolator courier ltd from new jersey based purolator courier corp pcc but analysts said the two acquisitions were prompted by financial restructuring undertaken by the us parent companies and likely dont represent an industry trend toward buying out foreign owned courier operations
barschel was found dead in a hotel bath in geneva last weekend
it said the assets were transferred to irving commercial corp
wheelon has served in key management positions at hughes since joining in 1966
he said heinz japan is making a profit and generating its first substantial dividends and implementation of a new partnership seoul heinz ltd is moving ahead with a new manufacturing plant targeted for completion by june in seoul south korea
pacific western airlines corp said the airline resulting from the previously announced merger of its pacific western airlines ltd unit and canadian pacific air lines ltd would be named canadian airlines international ltd effective april 26
j
it said vernells based in bellevue wash had annual sales exceeding 30 mln dlrs
the company said about 95 mln dlrs of the gain will be recnogized in the quarter ending june 30 with the remainder derferred and recognized over the remaining life of the serviced mortgage porfolio
shr profit five cts vs profit two cts net profit 268000 vs profit 134000 revs 6951000 vs 5938000 12 mths shr profit 14 cts vs loss 11 cts net profit 801000 vs loss 623000 revs 246 mln vs 243 mln note full name of company is american physicians service group inc
the imf committee meeting scheduled for april 9 is expected to review the resolution reached by the six top industrialised nations in paris last month calling for newly industrialised countries such as south korea and taiwan to allow their currencies to rise
but energy sector output fell nine pct and mining production declined seven pct
the department previously reported january retail sales fell 58 pct
day said some had already been classified as nonperforming or charged off as a loss but he could not identify how many were included in those categories
fisher foods inc fhr said 5300 richmond road corp its largest shareholder has not yet reached a definitive decision about whether it will buy more fisher stock through a possible merger tender offer or another acquisition proposal
bangladesh to import 60000 tons of diesel from ussr
carlsson told a news conference the party decided the fight against apartheid took priority over swedens traditional policy of only adopting sanctions with the backing of the un security council
state secretary for foreign affairs rene van der linden said the government was against the tax although it noted deepening ec financial difficulties
gulf arab states must coordinate economic policies more closely before moving towards their goal of a unified currency system the president of the arab bankers association said
the cabinet approved a plan for the port authority of thailand to buy six gantry cranes from metalna co of yugoslavia for about 134 mln dlrs a government spokesman said
shr 28 cts vs 13 cts net 1898000 vs 892000 sales 168 mln vs 153 mln
wendys is currently trading up one at 11 3 4 on turnover of more than 16 mln shares
a total of 800 marines are inside the docks but most are out of sight
the department said the additional guarantees provide up to 310 mln dlrs in coverage for sales of protein meals 90 mln dlrs for tallow and 440 mln dlrs for vegetable oils
the group also intended to expand the number of its estate agency firms bought last year and hoped they will comprise between 10 and 15 pct of total company profits in the future
miyazawa says present yen not necessarily ideal
we could get a stiff rally possibly enough to bring yields on long bonds down to seven to 7 1 8 pct compared to the current yield of about 75 pct quinn said
the draft legislation under consideration by congress would impose permanent quotas on products entering the us and seek to limit any increase to a growth in the overall trade
the central bank had placed buy orders at that level and prevented the dollar from falling when it came under heavy selling pressure from investment trusts and trading houses they said
ctc dealer holdings ltd said it would appeal a previously reported ontario court ruling upholding an ontario securities commission decision to block ctcs bid for 49 pct of canadian tire corp ltd common shares
the bond is available in denominations of 1000 and 10000 dlrs and will be listed in luxembourg
but in the eastern states the wheat area should hold up provided that rainfall between now and june is not less than average awf said
the order empowers sec investigators to try to find out whether any persons including icahn violated securities laws and related rules icahn said
the french franc price is pre tax for specified quality a minimum 999 pct purity at a french port or border railway station and a minimum delivery of 10 tonnes
barker
the convention requires that lead managers draw up a prospectus naming all syndicate members and providing certain details about the borrower
moodys may downgrade conseco cnc debt
us exporters will have the opportunity to sell an additional 300000 tonnes of us durum wheat to algeria under the export enhancement program eep the us agriculture department said
the government froze salaries as part of its efforts to pull bolivia out of a deep economic crisis
were seeing low prices generate some interest in demand said meyer adding that feed use was up 13 pct last quarter and 15 pct in the preceding quarter
the warrants are exercisable from may 21 1987 until april 23 1992
moodys cut the parents subordinated debt to baa 1 from a 3 and the lead banks long term deposit obligations to a 1 from aa 3
viacom was created in 1970 and spun off from cbs inc cbs the company has 940000 cable television subscribers operates nine satellite television services and owns television and radio stations
yulo said despite next years increased production target some philippine mills were expected to shut down
al laboratories inc bmd 4th qtr net
the us and kuwait have been negotiating for over a month on methods of protecting kuwaiti ships
proceeds will be used to expand the companys business through capital expenditures and acquisitions and for general corporate purposes atari said
the andean development corp caf said today it is lending 117 mln dlrs to ecuador to help repair 25 miles of oil pipeline destroyed by an earthquake earlier this month
local brokers have requested the head of the syndicate now fuji bank ltd to increase their share to 307 pct but banks oppose any cut in their 74 pct share bankers said
north carolina federal savings and loan association said it has raised its prime rate to 7 3 4 pct from 7 1 2 pct effective yesterday following moves by major banks
shr 23 cts vs 18 cts net 249920 vs 194369 revs 3752641 vs 3355563 note full name is scicom data services ltd
currency analysts also warned about an unfavorable reaction to the seven nation economic summit on june 8 to 10 in venice which is likely to focus on the implementation of previous commitments rather than yield any fresh initiatives
but now japanese are going for blue chip organisations he said
closing had been scheduled for march 16
it said the agreement under which it owns 50 pct of the partnership enables it to move into the mergers and acquisitions business
it had called for substantial new commercial bank lending and development bank aid in order to help debtor countries grow out of their economic troubles
doc optics corp doco 4th qtr loss
datrons officers hold about 73 pct of the total 896000 datron common shares outstanding
but he said in a speech and remarks to the heritage foundation that in the end the marketplace will ultimately rule the day asked about the future of the dollar he said that whether or not it would rise or fall depended on economic policies and coooperation among trading nations
in a wide ranging address sponsored by the export import bank ortner the banks senior economist also said he believed that the yen was undervalued and could go up by 10 or 15 pct
us trade panel rules against brazilian orange juice imports will impose dutues
ropak ropk forms japanese unit
the money market rates are the important ones seipp said the bundesbank should move away from allocating money market liquidity at a fixed 38 pct as it has in recent tender allocations
phelps dodge corp officials said good fundamentals in copper markets should lead to improving prices for the metal
the board of borg warner has also taken steps to redeem its poison pill or share purchase rights for five cents per right effective immediately
the companys ashland petroleum co unit operated at a loss in january and february since it was unable to raise product prices enough to recover higher crude oil costs ashland said
in that case canada decided pasta imports which take about ten pct of the canadian market did not injure domestic producers
new york state electric gas corp nge 3rd qtr
chase amp bank ltd said it will lower its prime lending rate to 1775 pct from 1825 effective tomorrow
he said the captain of the singapore registered tanker nord pacific reported in a radio message that he had picked up the remaining seven crewmen of the 2223 tonnes dw stefan e together with the body of the dead man
kay corp said its balfour maclaine international ltd subsidiary signed a letter of intent to acquire certain assets of a privately owned distributor of specialty fasteners for about 13 mln dlrs plus management incentives which it did not disclose
qtr ended march 31 shr 74 cts vs 79 cts net 4069000 vs 3458000 revs 1732 mln vs 1208 mln year shr 265 dlrs vs 273 dlrs net 133 mln vs 119 mln revs 6184 mln vs 5207 mln note full name is standard commercial tobacco co
of the 05 point contribution of domestic demand to october december gnp growth the private sector accounted for 04 point and the public sector 02 the private sector contribution included 03 point for housebuilding 04 for corporate capital outlays and 01 for stockbuilding
indian rate cuts to spark industry agriculture
housing starts in february included a seasonally adjusted 56 pct rise in single family units to 1317000 units and a 41 pct fall in multi family homes to 534000 units
the bubble of frustration against what appears as japanese prevarication burst last week
collins said that in funds which include bonds and stocks the firm has long maintained an aggressive 75 pct weighting in equity with the rest in bonds and cash
the 1987 grain production target is 405 mln up from 391 mln in 1986
shr loss 12 cts vs loss 99 cts net loss 1476000 vs loss 11965000 sales 834 mln vs 1109 mln year shr loss 179 dlrs vs loss 190 dlrs net loss 21720000 vs loss 22969000 sales 2590 mln vs 3173 mln
dividend on 1986 business unchanged at 10 marks per ordinary share
between 1937 and 1955 it yielded 228 tonnes of gold and 78 tonnes of silver while milling about 30000 tonnes of ore a month
but there are other two way deficits with canada west germany taiwan and south korea and reagan officials said the president is ready to fight them all
uk money market given 97 mln stg assistance
i believe there is room for a further fall of five to 10 per cent in 1987 the united states west germany japan france great britain and canada g 6 agreed in paris in late february to stabilise major currencies around current levels
the company also said it is changing its name to eurocapital corp shortly
kuwaits oil minister sheikh ali al khalifa al sabah said in remarks published in the emirates daily al qabas there were no plans for an emergency opec meeting to review prices
however lynch would not comment specifically on the current market rumors
allied signal ald completes unit sales
systems 4 has revenues of 15 mln dlrs a year hogan said
what that means is that the poor peasent making 700 dlrs a year should drop it to 500 dlrs says one source
merrill lynch issues 100 mln ecu eurobond
elsewhere a travelers advisory remains in effect this morning over northeast new mexico and the oklahoma and tecas panhandle for blowing snow and slick roadways and across the mountains and deserts of southern california for strong gusty winds of 25 to 40 mph
shr 20 cts vs 20 cts net 1981000 vs 1689000 rev 247 mln vs 196 mln nine months shr 59 cts vs 53 cts net 5855000 vs 4360000 rev 709 mln vs 519 mln note fiscal 1986 per share data reflects dilutive effect of shares issued for april 1986 convertible debenture conversion
presidential spokesman marlin fitzwater made the remark one day before us and japanese officials are to meet under the emergency provisions of a july 1986 semiconductor pact to discuss trade and the punitive tariffs
qtly div 25 cts vs 22 cts prior payable april 15 record april 1
he said he and economy minister juan sourrouille had discussed argentinas loan request with world bank vice president david knox who is currently in buenos aires
japanese shoppers pay an average of 2714 dlrs for a us tenderloin steak in a restaurant and an average of 4742 dlrs for a japanese produced restaurant steak the meat association said
cpo stocks fell to an estimated 286440 tonnes in february from 287940 in january and 653411 in february last year
the national planning department forecast that in 1987 coffee will account for only one third of total exports or about 15 billion dlrs with oil and energy products making up another third and non traditional exports the remainder
chairman donald clark in remarks prepared for delivery to new york security analysts cited increased earnings from household financial services and excellent return on equity from household manufacturing combined with the impact of our share repurchase program will result in higher earnings per share and improved return on equity in 1987
tricentrol to concentrate on proven reserves
sales of corn to the ussr for delivery during the fourth year of the agreement which began october 1 1986 now total 2600000 tonnes it said
in the companys newly released annual report and 10 k filing gulf states said its bank lenders had notified the utility last month that no additional credit would be granted
cuba crude sugar harvest far behind schedule
in 1986 the economy grew by an actual 31 pct
norstar nor fleet flt outline merger
economic spotlight asian droughts
all the other countries have said their relationship with us cannot be affected by the abandonment of a system that only lived for 18 months when they have been supporting us for over 20 years now he said
valhi vhi reports pro forma earnings
the fire which started wednesday and burned itself out late yesterday weakened part of the mines support structure coffin said
meridian said it has the option to issue an additional 1500000 shares of its common over the next two years in payment of certain of the notes
schlesinger said he saw no signs that central bank money stock growth was slowing down from its recent year on year pace of 7 1 2 to eight pct well above the bundesbanks three to six pct target
we are looking to a long term relationship and at a time of protectionist tendencies in the us congress there are clear benefits to both sides he said
because of the easter holidays bankers have not yet got an official reaction from venezuela which is also paying 7 8 pct on its 202 billion dlr rescheduling
from today the price of meat will rise by an average 18 pct and that of beer and spirits by 10 pct mti said
german industrial employment seen stagnating
relevant measures are likely to be announced at the next us japan yen dollar committee meeting on the deregulation of tokyos financial market expected in may they said
once policy is in place gros said financing talks with the banks are likely to be tough and protracted a sentiment echoed by the countrys creditors
following the order he noted the unit cancelled a planned sale of preferred stock
usair group said it sought the help of the us department of transportation in its takeover fight with trans world airlines inc asking the department to order twa to sell its usair shares
henderson estimated it is worth abouth 55 dlrs per share
there are currently about 1700 woolworth general merchandise stores operating worldwide of which 1200 are in the united states
he also cited a 23 mln dlr cost as a result of a closing two of its subsidiarys ferry services and a 103 mln dlr provision to cover losses on the sale of container assets and severance pay costs
warburg pincus capital corp said it has started a tender offer for up to 2500000 common shares of symbion inc at 350 dlrs each
pay n pak said the second proposal is structured as a merger in which each holder would receive a combination of 1750 dlrs in cash and 250 dlrs in liquidation value of 13 1 2 pct cumulative preferred
the final duty will be based on more detailed information the officials said
the foreign exchange market has been told by baker that hes going to hammer germany he has just declared all bets are off in terms of currency cooperation chris johns currency analyst at ubs phillips and drew in london said
sand technology systems inc said it is considering a reverse stock split of at least one for 10 and expects to report a second quarter profit compared to a loss last year
rp scherer schs offers preferred stock
mobil also said that effective today it changed its gravity adjustment scale as follows from 20 degrees to 34 degrees api mobil will adjust its price 0015 of a ct per one tenth of an api degree
federal reserve board chairman paul volcker said a further large drop in the value of the dollar could be counterproductive for world economic growth
echlin will also receive protection against the decline in price of champions stock for seven years
momentum in th us economy may be picking up given solid across the board increases in the february us employment report economists said
gte gte unit debt upgraded by s p
elevator loading waiting continental grain westwego 1 5 mississippi river myrtle grove 1 0 adm growmark 1 2 bunge grain destrehan 1 0 elevator loading waiting st charles destrehan 1 1 reserve elevator corp 1 0 peavey co st elmo 1 1 cargill grain terre haute 1 4 cargill grain port allen 0 0 zen noh 1 3
general electric also attibuted continued strong performances in plastics major appliances and the employers reinsurance corp for its strong quarter
it was confident oil prices were likely to remain within a range sufficient to justify the investment
theodore cross editor of business and society review a business publication said an investor group he heads has offered to buy harper and row publishers inc for 34 dlrs a share cash
energy and mines minister javier espinosa announced on television the country would cut domestic fuel sales by 30 pct
de benedetti said last week that his group was negotiating a purchase of an unidentified italian food firm
alfaro and other industry sources declined to disclose the price at which the sugar was sold
trinity industries trn and unit cut by s p
the court of appeals decision issued last december reversed an earlier district court ruling that selling commercial paper is an improper bank activity and that private placements by banks is also improper
this price difference makes american corn competitive albert melnikov commercial counselor for the soviet union told 
neoax inc noax 4th qtr
this year however a self imposed quota system has been introduced with the aim of cutting plantings to 130000 hectares and reducing white sugar output to around 915000 tonnes to minimise the amount of non quota c sugar produced
the institutions implied senior debt rating is ccc plus
nzi shares were at 218 nz dlrs bil at 408 and renouf at 615 at the close of trading
for refineries in the mediterranean netback values were mostly lower with declines of seven to 14 cts
the producers might have to repay these costs through production levies and the proposed special elimination levy czarnikow says but it would be several months before any costs could be recovered under ec rules
the agency said the most recent increase was largely due to last years poor performance
the statement said ministers were very disturbed by us moves towards protectionism
federal reserve weekly report 3 feb 26 one week ended feb 25 daily avgs mlns govts bought outright 193374 down 1342 govts repurchases nil unch agencies bought outright 7719 unch agencies repurchases nil unch acceptances repurchases nil unch matched sales 4920 vs 3788 including sales with cust 4369 vs 3788 other fed assets 16806 down 1161 other fed liabilities 6421 up 178 other deposits with fed 399 up 26
the price change was decided upon last week and will be effective today he said
it imposed daily and weekly purchase limits prohibited the bsm from operating on futures markets and stipulated after consumer insistence that up to 15 pct of total buffer stock purchases could be of non member cocoa
cibc unit issues australian dlr zero coupon bond
shipments of major home appliances in february rose 91 pct to 35 mln up from 32 mln a year ago reported the association of home appliance manufacturers
witco wit to offer convertible debentures
the bank of england said it forecast a shortage of around 400 mln stg in the money market today
the bank of england said it has satisfied its revised estimate of todays shortfall in the money market providing 261 mln stg assistance in afternoon operations
palomino said aeroperu the government flagship airline with a 10 jet fleet would issue stock for purchase by private investors
the american stock exchange said as previously reported that bear stearns and co bsc has purchased w
nl industries inc nl 4th qtr dec 31 loss
the last confirmed iraqi attack took place on march 8 when the iranian tanker khark 5 was hit south of kharg
commercial union is the first uk company to set up such a program
philip morris mo unit sells subordinated notes
mauro said a 05 pct rise in industrial production in may came despite cutbacks in output in the auto industry where an inventory overhang still exists
domestic group turnover in the 1986 fourth quarter alone was 11 billion marks it said without giving comparison figures
tenneco spokesman joseph macrum said we have no comment to make whatsoever pickens was not available for comment
philip crosby reported fourth quarter 1985 results of 13 mln dlrs or 37 cts a share prior to an august 15 two for one stock split
even though standard and poors affirmed the debt ratings of citicorp cci bankers trust new york bt bank of boston corp bkb and jp morgan and co inc jpm few buyers can be found for securities issued by those banks traders said
treasury secretary james baker said that brazil should come up with a new economic plan if it hopes to get additional assistance from commercial banks and others
heavy inflows particularly in january around the time of the ems revaluation boosted domestic money supply
the sources said the package also contains provisions for payments to farmers who embark on a program aimed at protecting or improving the environment
us first time jobless claims fall in week
pre equity net 5207 mln dlrs vs 4335 mln after tax 345 mln vs 1634 mln minorities 400 mln vs 644 mln interest 3389 mln vs 2611 mln and depreciation 267 mln vs 272 mln but before net extraordinary loss 2039 mln vs 1379 mln
the al rai al aam newspaper quoted him as saying opec was pumping 24 mln barrels per day bpd less than its 158 mln bpd ceiling while consumers were drawing down their petroleum stocks at a rate of 45 mln bpd
the government had failed to bring inflation down despite lower oil prices and an appreciation in the currency he added
lex vehicle is owned equally by lex services and lombard north central plc lex said the shares involved in the transaction were today being placed for sears plc with institutions at 400p
shr loss nil vs profit nil net loss 17000 vs profit 31000 revs 5429000 up 27 pct year shr profit four cts vs profit five cts net profit 523000 vs profit 421000 revs 183 mln vs 116 mln avg shrs 152 mln vs 8941000 note year net includes tax credits of 131000 dlrs vs 194000 dlrs
following the opening session the group of ministers met with president jaime lusinchi at miraflores the presidential palace
the federal grain inspection service advisory committee will meet here monday april 13 the us agriculture department said
the share holdings of the core companies should be equal watanabe said in a statement
hk shanghai bank standard chartered bank raise prime one half point to 65 pct
sosnoff and mts acquisition corp regarding its march 9 unsolicited tender offer for caesars world stock
alcan australia bids for alcan new zealand
us trade negotiators here last week said the pact was in jeopardy because of continued dumping in non american markets and little sign of increased foreign sales in japan
earlier today usda said that plywood was eligible under an export credit guarantee offer for turkey announced yesterday
oper shr 29 cts vs eight cts oper net 222143 vs 76605 revs 4872279 vs 3276404 12 mths oper shr 17 cts vs 28 cts oper net 111280 vs 301623 revs 139 mln vs 111 mln note 1986 yr figures excludes extraordinary item of 574363 dlrs or 60 cts per share for termination of its non contributory pension plan
he was referring to the meetings of finance ministers from the group of seven g7 leading industrial nations which reaffirmed the pact
japan does not intend to cut discount rate sumita
the us position is that it is not seeking veto power although it believes the banks largest contributors should have greater influence within the institution
oper shr 57 cts vs 73 cts oper net 6051000 vs 7818000 revs 500 mln vs 560 mln year oper shr 106 dlrs vs 124 dlrs oper net 11301000 vs 13203000 revs 1719 mln vs 2074 mln note current oper net excludes extraordinary income of 180000 dlrs in qtr and 1119000 dlrs in year vs previous losses of 2345000 dlrs and 515000 dlrs respectively
it said legislation to define insider trading should avoid expanding current law in a way that would impede the market
the group said it already holds 1483886 prime medical shares or 175 pct of the total
the number of persons working part time for economic reasons fell in march to 546 mln from 578 mln in february
twa vice president general counsel mark buckstein said the company had made appropriate filings with the dot and was in compliance with the law
earlier an ibc statement said registrations for may the only month which was open today totalled 14 mln bags of 60 kilos to bring the total registered for the month to 205 mln
debt sources said a world bank concessional loan of around 200 mln dlrs to help rationalise moroccos public sector was likely to be agreed in washington soon
sama increased the offer price on the 900 mln riyal issue to 9951563 from 9948438
the federal reserve is not expected to intervene in the government securities market today several economists said
it said economic prospects had been less promising over the past few months because of a sharp fall in the value of the dollar and a slowing of world trade factors which would restrain community exports
us energy chief sees promise in oil tax change
winn enterprises knudsen foods inc said it entered an agreement to sell its hawaiian dairy operations to foremost foods inc for 13 mln dlrs cash
the textiles industry dominates mauritiuss export processing zone and the island has become a major exporter of woollen knitwear
chairman freddie heineken said the company europes leading beer producer with six pct of market share in 1986 said sales increased by 63 pct to 421 mln hectoliters
officials for em warburg referred all questions to computerland
castle and cooke inc said it would take a fourth quarter after tax loss of 339 mln dlrs from the previously reported sale of its flexi van container leasing business to itel corp itel for about 215 mln dlrs
cannon intl can sets philippines film pact
tcby enterprises inc tcby 1st qtr feb 28 net
pesch is the principal stockholder of pesch
the broken hill pty co ltd brkns nine months
the secretary of state for trade and industry said he had decided not to refer the proposed acquisition by reed international plc reedl of technical publishing company inc to the monopolies and mergers commission
ames said it expects to report earnings of between 72 and 77 cts per share compared with 119 dlrs per share in the previous year
qtr ended feb 28 shr 103 dlrs vs 134 dlrs net 4385000 vs 5792000 revs 4744 mln vs 3814 mln six mths shr 246 dlrs vs 271 dlrs net 105 mln vs 117 mln revs 9060 mln vs 7576 mln
computerland franchise owners pay royalties averaging 59 pct to the parent company
bard makes tennis and squash racquets and accessories
louisville gas and electric co lou dividend
chemlawn had rejected waste managements earlier 27 dlr per share offer saying it was an undervalued bid
the financing involves a 75 mln dlr euro commercial paper program which will be supported by a 75 mln dlr committed syndicated revolving credit
reagan has committed a big mistake and has definitely increased his problems
this gave kenya an overall balance of payments surplus of 780 mln kenya shillings 48 mln dlrs during the period compared with a 14 billion shilling 87 mln dlr deficit in the second half of 1985 it said
currently captive venture capital stock is traded over the counter and will soon trade under the scan graphics name
bp earlier today said its us unit planned to tender at 70 dlrs per share for the 45 pct of standard it does not already own
amoco said well off trinidad flows 53 mln cubic feet natural gas daily
mthly div 45 cts vs 45 cts prior pay march 13 record march two
the remainder of the gilt edged funding program would be met by traditional tap offerings of stock via the government broker
arnox corp said a special committee of its board is continuing talks with txl corp on the terms of txls offer to acquire arnox at 10 dlrs per share
qtly div 72 cts vs 72 cts prior pay april 15 record march 23 note companys full name is southern new england telecommunications corp
this made a sharply lower deficit of 104 mln dlrs on the balance of goods and services against deficits of 499 mln in january and 354 mln a year earlier
exports rose to a record 693 billion from 620 billion
fundamentals may provide most of the direction in futures on monday they said
but reliance recently became an independent company as the result of a leveraged buyout from its former owner exxon
loss continuing operations for the qtr 1986 includes gains of sale of investments in enron corp of 14 mln dlrs and associated companies of 4189000 less writedowns of investments in national intergroup inc of 118 mln and brae corp of 156 mln
the warrants will be listed in luxembourg and pay date is march 31
an additional margin of 1000 dlrs will be required on all july 1987 delivery coffee c contracts as of the opening of trade monday march 23 the coffee sugar and cocoa exchange csce said
government securities outstanding rose 125 billion dlrs to 22409 billion dlrs in week ended march 4 treasury bills rose 950 mln dlrs to 7455 billion dlrs and canada savings bonds fell 57 mln dlrs to 4434 billion dlrs
us treasurys baker sees rate stability
including acceptances loans fell 581 mln dlrs to 6563 billion
a further 500 mln marks would be accounted for by increasing the level of special depreciations for small and medium sized companies
the unaudited income for the period was 1014000 or 51 cts per share
potash co of america inc nine mths loss
donaldson said the acquisition complements its microfiltration business and internal research and development efforts
the cabinet authorized energy and mines minister arturo hernandez grisanti to approve the purchase in the shareholders assembly of the state oil company petroleos de venezuela pdvsa pdvsa last april 14 signed a letter of intent to buy a half interest in champlins corpus christi refinery for an undisclosed sum
bethlehem steel corp said its base price for carbon plates and high strength and low alloy plates will be increased by 25 dlrs to 405 dlrs a short ton effective july one
treasury balances at the federal reserve fell on march 10 to 2842 billion dlrs from 3073 billion dlrs the previous business day the treasury said in its latest budget statement
pacific gas and electric co said it expects to record a 470 mln dlr or 125 dlr per share reduction in 1987 earnings because of the companys decision to change the method used to record diablo canyon nuclear power plant revenues
complete 1986 figures are not yet available
they add that santa fes efforts to merge its two railroads remain in regulatory limbo sidetracking many of its strategic plans for the foreseeable future
phh group inc said it acquired two design firms for undisclosed terms
while increasing banners size and diversity s and p said the transaction heightens financial risk with debt to capital rising to more than 90 pct
the spokesman declined to say exactly how large the losses were
yeutter said increasing trade is one of the keys to enhanced political and economic stability around the globe he said a stronger gatt will enhance prosperity not only for advanced industrial nations but also for other countries that need to increase trade in order to better their standards of living yeutter added it was important not to risk the progress made in the israeli and canadian trade pacts by resorting to protectionism
as a result foreign currency reserves fell to 11469 billion francs on march 19 from 12082 billion on march 12 while ecu reserves fell to 6202 billion francs from 7323 billion
heinz hofer of switzerland was elected executive committee chairman and mette mogstad of norway vice chairman they added
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
in the medium term we expect this modest improvement to continue but the pace of progress may be too slow to ward off further protectionism or further yen strength said william stirling economist at merrill lynch japan inc
the shipment periods are march 15 april 20 12500 tonnes and april 1 may 5 12500 tonnes the bonus awards were made to peavey company and will be paid in the form of commodities from ccc stocks it said
two weeks ago rabobank issued a 250 mln guilder 675 pct bond at par giving it a yield 040 above the average bank loan yields that day of 635 pct
in the 1986 1st qtr pan am reported a net loss of 1184 mln dlrs which included foreign exchange losses of 193 mln
yulo said the philippines was lobbying for a renewal of the international sugar agreement which expired in 1984
fed offers to buy one billion dlrs of bills for customer after note auction
the bank of england said it had revised its forecast of the shortage in the money market today down to 400 mln stg from 450 mln stg
the firm however is supplying temporary financing and sources close to the transaction disputed the claim that the firm will not end up paying for its equity position
the company said the modernization will allow the unit to regenerate catalysts on a continuous basis without shutdown
australian wheat board renews japan supply pact
this could extend the length of time in which the bundesbank would keep its activity low key economists said
they pointed out this is little changed from the combined spending of american hoechst and celanese corp in 1986
essex chemical corp said it filed with the securities and exchange commission a registration statement covering a 60 mln dlr issue of convertivble subordinated debentures due 2012
microwave laboratories inc mwavo 4th qtr net
possis corp said its board approved a 100 pct stock dividend payable may one record march 27
in testimony to the economic commission of congress rubio said the main measure of money supply the broad based liquid assets in public hands grew at an estimated annualised rate of 17 pct in march the same as in february
a company spokesman would not comment further
erbamont erb acquires antibioticos sa 
fees comprise one pct selling concession with 1 2 pct management and underwriting combined
nordbanken said it did not exclude accepting a suitable bid for the shares although it expected to buy them back itself
creditors are a nervous bunch of people he said
conrac corp said it has entered talks on its acquisition with several parties
the three more positive institutes saw private consumption rising by four pct in 1987 compared with 42 pct in 1986 while diw and ifo predicted a three pct increase
a 13 g is filed by passive investors to show holdings of more than five pct
it has consolidated other us and foreign manufacturing operations to reduce costs and written down certain inventories to better reflect their value it added
cocoa buffer stock rules to take effect immediately delegates
unilever improves in most sectors during 1986
shr loss 18 cts vs loss one ct net loss 1343000 vs loss 49000 revs 6778000 vs 1976000 year shr loss 67 cts vs loss ten cts net loss 4693000 vs loss 672000 revs 140 mln vs 7034000 note 1986 loss included one time loss of 3624000 dlrs on write off of certain silver oil and gas interests
bond corp holdings ltd bonas and atlas consolidated mining and development corp atlcmn are still holding talks on a bail out package for the troubled mining firm an atlas statement said
indonesia with 168 mln people is the worlds largest moslem country
baird said the court also issued an order enjoining baird from enforcing the massachusetts anti takeover statute against mark iv industries
ccc accepts export bid for wheat flour to iraq
one analyst noted that texas air corps tex continental airlines has a similar agreement with a bank issuing mastercard
brazil with about 108 billion dlrs in debt shocked banks late last month when it stopped interest payments on 68 billion dlrs owed to them until it can work out its problems
twa twa in court settlement with usair u 
the dow jones industrial average slumped more than 200 points at one stage and us treasury bonds dropped about 1 3 4 points
a cash balance of some 250 mln dlrs and a stock of almost 100000 tonnes of cocoa enough to mount large buying or selling operations were carried forward from the previous agreement
year on year total deposits rose 306 pct compared with a 263 pct increase in the december year and 345 pct rise a year ago period it said in its weekly statistical release
banco royal is the only canadian owned commercial bank in brazil although bank of montreal has a brazilian investment bank subsidiary he said
the two new companies will work for the sumitomo metal group on fund raising and investment in financial markets
mentor specializes in public sector accounting systems
woolworths ltd reports 927 mln dlr net profit yr end feb 1 vs 6320 mln
while bank shareholders have enjoyed dabbling in broking during australias record two and a half year bull run they could find themselves without the expertise they need during more difficult times some brokers said
they said the department has until midnight tonight to set the duty but may not make the finding public until tomorrow
analysts said the huge loss improves the appeal of a debt accord by underlining company statements that creditors would receive little or nothing under a forced liquidation that could take several years to complete
the sources said the loan is needed to rehabilitate the the state owned philippine national bank pnb and the development bank of the philippines dbp which together are burdened with seven billion dlrs of non performing assets
shr loss six cts vs profit 22 cts net loss 133119 vs profit 496391 revs 136918 vs 737917 nine mths shr loss 21 cts vs profit 15 cts net loss 478991 vs profit 340210 revs 324011 vs 841908
moore said one aim was to instil a sense of political urgency to avert potential economic tragedy another was to seek ways of popularising freer trade to people who felt the pain of readjustment but could not see the benefits as well as preventing bush fires of confrontation while we proceed with orderly negotiations the meeting is being attended by 25 overseas delegations including representatives of gatt and the economic community
bank of bc revises share payout estimate
nothing has changed substantially to give the dollar a big boost said one dealer while another italian banker said he expects the dollar to trade between 177 and 187 german marks in the next three months
the us treasury said its weekly auction of three month bills produced an average rate of 598 pct with a 608 pct rate on six month bills
israels exports to the us can and must double over the next five years if the mideast nations goal of economic independence is to be achieved said gad yaacobi israeli minister of economy and communication
two for one stock split pay may 12 note split is subject to approval of shareholders at april 23 annual meeting
the engine room is flooded to about three metres
sci scis buys fortune fsys computer assets
the sources said they believed the limit of currency market intervention may be being reached after they saw recent concerted market action by central banks of major industrial nations was increasingly ineffective in propping up the battered dollar
benihana national said it currently owns and operates 16 teppanyaki style restaurants under license from its parent benihana of tokyo inc
usx took a fourth quarter charge of 103 billion dlrs to restructure its steel operations
he said it looked as if the december opec pact to restrain output was holding bringing supply and demand into balance but the test will come in summer when demand for opec oil will fall
wright says a gas tax an option to cut deficit
the death of the worlds tropical rain forests could trigger a new debt crisis and social and biological disasters scientists and ecologists involved with the international tropical timber organisation itto said
bangladeshs payments deficit narrows in october
analysts in the past have criticized ibm for not moving faster to integrate rolms telecommunications products with its computer systems
the mortgages were originated by security pacific in california
moet hennessy issuing convertible eurobond
robusta coffee grades four and five are traded for prompt delivery and up to five months forward exchange officials said
the third quarter invisibles surplus was revised down to 19 billion stg from 225 billion
supermarkets general is expected to report about 170 dlrs a share compared to a 173 dlrs a share reported for 1985 on a post stock split basis
unctad spokesman graham shanley said consuming countries realise steady export earnings enhance developing countries ability to service debt and mean greater demand for industrialised nations capital goods
mony funding issues 125 mln dlr eurobond
animed inc said it expects to return to profitability during the current year
it downgraded 50 companies affecting 61 billion dlrs of debt and upgraded 25 companies affecting 9 billion dlrs of debt
he also said a price freeze would be imposed on 20 basic consumer items mainly food staples while the price of petrol would rise by between 69 and 80 pct and bus fares would rise by 20 pct
the purchase will be partly funded by the issue of eight mln shares at 450 dlrs each and four mln free options to the pratt group controlled by entrepreneur dick pratt plus four mln shares to professional investors at 450 each it said
the company had owned 63000 common and 25100 preferred shares before starting the hostile tender
we now buy some products from hitachi in us dollars and the results are starting to show up in the second quarter he said
the legislation is part of the omnibus trade bill being considered by several committees
viacom international inc said the us district court for the southern district of new york denied the motion of carsey werner co for a temporary injunction to block the proposed merger of viacom with a subsidiary of national amusements inc carsey werner is the producer of the cosby show
the new company said its board will have nine members including the chairman and chief executive officer
kerridge said the board met yesterday to discuss the merger but decided against it
falling sales and lower world prices of fertilisers were largely responsible for the sharp increase along with the effects of the dollars fall which has helped to give us fibre producers a competitive edge he told 
it has retained first boston corp and kidder peabody and co as advisers
rep
moodys said it would study the proposed acquisitions effects on gencorps cash flow and debt protection measures and on afgs financial condition
the paper also said the minimum for opening a fixed deposit account had been cut to 50 yuan equivalent from 150 yuan
toyota has informed the philippine government it plans to produce cars again here in joint venture with a local partner
that government stock disappeared very quickly indeed said stephen lewis head of economic research at stockbrokers phillips and drew it is an indication that the market believes rates are going to fall further at least by a half point immediately after the budget on march 17 and some people hope for more stockbrokers james capel said in a comment the move by the national savings department was of considerable significance it said the real message is that the decks are being quickly cleared so as to facilitate a speedy decision by the building societies to cut their rates when the inevitable cut in bank base rates to 10 pct materialises building societies have said a drop in bank base rates would normally have to exceed half a point to give rise to a reduction in mortgage lending rates
but they described market response as muted because the s and p action came as no surprise
douglas also said the years sales should exceed 14 billion dlrs up from 127 billion dlrs the prior year
the cuban leader said the mechanical cane harvesters scheduled to cut over 60 pct of the cane this year were particularly vulnerable as muddy fields prevent operations
unitil corp utl 4th qtr net
it also said the upgrades were the fewest since early 1986
he stressed that a further sharp fall in the dollar would hurt the ability of germany and japan to boost growth
qtly div eight cts vs seven cts prior payable may 15 record april 29
suharto has also ordered a government committee to look into which of indonesias 215 state run companies could be sold
norcen sees improvement in 1987 earnings
k mart corp km 4th qtr jan 28 net
they could continue to support prices in the hope that when the world economy improves demand for wheat will rise and surpluses wil be reduced or eliminated
roger hemminghaus president of diamond shamrock refining and marketing co said he was enthusiastic about the future adding that he expected an increase in profitability by midyear
because of the litigation i cant go any further than that he said
the midams t bond contract has a face value half the size of the cbts 100000 dlr t bond contract the most active futures contract traded
some danish slaughterhouse officials expressed suspicion that the canadian action was in response to tightening up by ec veterinary inspectors on canadian food exports to the ec
this compared with a deficit of 13 billion in january 1986 the bank said
it has commitments to export a further 353045 tonnes this year
guilford mills gfd sells convertible debt
pegasus estimated 1987 production at the zortman landusky mine will be about 80000 ounces of gold and 225000 ounces of silver
we will react to market factors adequately
sosnoff reduces caesars world caw stake
among the main factors affecting liquidity bills maturing in official hands and the take up of treasury bills will drain some 111 billion stg while a rise in note circulation and bankers balances below target will take out around 120 mln stg and 20 mln stg respectively
foreign exchange trading profits rose to 379 mln dlrs from 270 mln but bond trading profits dropped to 219 mln dlrs from 262 mln
but obrinsky doubts that there is much more downward potential for rates because he foresees higher inflation and some overall improvement in the us economy
the us expansion plans were not an attempt to compensate for losses in guilder income through the lower dollar loudon said
lyng says no decision on soviet eep offer
the credit will be transferable and carry interest at 1 1 8 pct over the london interbank offered rate
shr 38 cts vs 36 cts prior pay july 31 record june 23
saitos words were ignored
1986 nine months operating net excludes prepayment penalties on early retirement of loans of 736000 dlrs
deluxe check printers inc dlx 3rd qtr net
gm gm march us car output rises
shr loss 10 cts vs profit seven cts net loss 918000 vs profit 585000 revs 5475000 vs 4430000 year shr profit 32 cts vs loss 24 cts net profit 2909000 vs loss 1501000 revs 237 mln vs 150 mln note 1986 4th qtr net includes 15 mln us dlr or 17 ct shr writedown of stake in hecks inc hex and 300000 us dlr or three ct shr writedown of arbitrage positions
watanabe originally proposed cable and wireless be given up to 30 pct of the merged firm
growth in oecd countries is expected to come primarily from transport fuels as was the case in 1986
summerfallow crops were in fair to good condition while stubble crops were rated fair to poor
the 1986 net includes a provision for estimated loss on dispositions of 570 mln dlrs compared to 151 mln dlrs the year earlier
net income also reflects non recurring charges of 8400000 dlrs recorded in the fourth qtr 1986 primarily reflecting revaluation of assets
fees include a one pct combined management and underwriting and a one pct selling concession
financial corp of americas american savings and loan association said it completed the previously announced purchase of 16 retail savings branches from great western financial corps gwf great western savings
he declined to identify the target other than to rule out hughes
the tariffs were placed on items which were available from other sources so there would be little effect on the american consumer fitzwater said
the bank financed the loans by issuing two billion yuan of bonds but she gave no other details
in testimony before a house appropriations subcommittee baker said however i think it is wrong to say that commercial bank lending has not occured in a meaningful way he added though that it has not materialized as fast as we would have liked the treasury secretary also said that it would be politically wrong for the united states or other countries to guarantee loans made by commercial banks to the developing country debtors because that would be rightly perceived as a bank bailout baker also said that it would be impractical for governments to mandate bank lending to the third world since this would have the eventual impact of turning commercial banks away from making all loans to the region
fiscal 1986 net reduced by currency losses equal to six cts a share in the second quarter and equal to nine cts in the six months
the rains were less intense in chaco and formosa
this brings to 157 the number of goods on which import taxes have been cut this year a ministry official said
transtar said it will increase to three daily connecting flighs to orlando via houston
senator jake garn john heinz and richard selby said at a hearing of the senate banking committee on export control they will offer the proposal as part of a major trade bill when it is brought before the senate this summer
clark copy international corp said it bought a norwegian drafting machines company for three mln us dlrs
the project aims to facilitate mexican oil exports to japan and the far east and is expected to be completed in three years
the usda quarterly hogs and pig report yesterday showed more hogs on us farms compared to last year as profitability resulting from low grain prices encouraged producers to step up production analysts said
to cut the budget glickman said everthing is on the table except those moves that would reduce farmers income
poehl says further rate cut possible sources
pacificorp credit inc subsidiary of pacificorp ppw shelf offering of up to 250 mln dlrs of debt securities including notes and debentures at prices and on terms to be determined at the time of the sale
while the businessmen have little choice but to come here many tourists especially those from europe are opting to visit sunnier and cheaper climes in southeast asia
this was partially offset by new swap arrangements
we have received good interest for the rubber
it said the offering will be through an underwriting syndicate managed by dillon read and co inc
banking sources said they expect that initially the currency futures would be dollar yen and interest futures would include japanese domestic yen certificates of deposit three month eurodollar deposits and 20 year us treasury bonds
kelman said the sale of delhi would enable csr to focus efforts on expanding business areas such as sugar and building materials in which csr has had long and successful management experience and strong market leadership
indonesian soybean imports forecast to rise
if foreign exchange rates had remained constant foreign sales would have decreased 40 pct and total sales 42 pct it said
last year madagascar exported 2189 tonnes of high quality cocoa up from 1624 in 1985 the trade ministry said
honduras has been authorized to buy about 75000 tonnes of us wheat about 15000 tonnes of us corn and about 6000 tonnes of us tallow under an existing pl 480 agreement the us agriculture department said
these are some of the questions we need to discuss when asked if he felt the united states has benefitted from the agreement lyng said i dont know
meanwhile disruption began today to cargo handling in the ports of sydney newcastle and port kembla they said
business computer said it expects to report a full year loss of about 500000 dlrs on sales of about 2100000 dlrs
the council ended its quarterly session today ahead of schedule
ciba geigy unit spins off into operating group
london cocoa prices traded today around 1300 stg per tonne down from around 1450 stg in january 1987 and 1750 stg in january 1986
outside the mainly state controlled high technology sectors french industrial goods were increasingly ill adapted to demand and over priced the report said
the company said the offer is conditioned on approval of its board but a spokesman declined comment on whether or not the board has scheduled a meeting
this compared with 124 paid for april yesterday and 125 for may june
minorco mnrcy half year dec 31
stoltenberg assumes cooperation will continue
shr loss one ct vs loss 16 cts net loss 117989 vs loss 528394 revs 820484 vs 35186 avg shrs 8226577 vs 3150000 nine mths shr loss seven cts vs loss 37 cts net loss 527864 vs loss 1177434 revs 1975487 vs 90875 avg shrs 7277418 vs 3150000
a jury trial has been requested
bionomic sciences bsii sees profitability
this rise in import demand reflected the needs of brazilian industry to equip to raise production and is perfectly compatible with the governments program for economic growth fendt added
financial corp of america fin 3rd qtr loss
convertible peseta funds previously were exempt from reserve requirements
collins foods international inc said that on april 30 it will redeem all of its outstanding 12 pct subordinated debentures due december 15 2008
american nursery products inc said it purchased miami based heinls nursery inc for undisclosed terms
hechinger is aggressively expanding its stores with a distribution outlet and 28 outlets planned in the next two years
they said chirac promised that frances decision would be based on financial economic and technical criteria and not on political grounds
german investors slow to accept bond innovations
in 1986 pneumo abex had operating income of 1181 mln dlrs on sales of 9005 mln dlrs
datron corp said it agreed to merge with gghf inc a florida based company formed by the four top officers of the company
brazils attempt to seek better terms for paying off its 109 billion dlr foreign debt is responsible and modest a former chairman of president reagans council of economic advisers said
but administration and private sources agreed that if the reagan administration did decide to offer subsidized wheat to moscow it could take several months
study predicts us dependence on foreign oil
merrill offered 4850 dlrs cash per share for 89 pct of borg warners common stock and a package of cash and securities for the balance
mobil corp chairman allen e
the senate could consider a house passed bill that would allow wheat and feedgrains farmers to receive at least 92 pct of their income support payments if flooding last year prevented or will prevent them from planting their 1987 crops senate staff members told 
it was a frenetic market it was really quite active he said
icahn refiled a more complete application form monday
nuclear metals nucm has delay in orders
canadas consumer price index rose 06 pct in may to 1378 base 1981 following a 04 pct rise in april and a 05 pct rise in may 1986 statistics canada said
m
the time has come to look at the alternatives one seasoned debt rescheduler said
altus bank altso fails to reach agreement
soybean crops were reported to be in generally very good condition helped by abundant rains and high temperatures
semi annual 30 cts vs 25 cts prior pay june 30 record june 15
as of dec
greeces foreign debts totalled 168 billion dlrs at end 1986 up from 152 billion at end 1985 halikias said
dryclean usa year net
ef hutton will provide 279 mln dlrs of its funds to complete the transaction
japans lipc to buy beef on april 23
dollar straight bonds ended the day barely changed from opening levels as investors failed to react on the unexpectedly large 41 pct rise in us february retail sales prefering to wait for tomorrows producer price and business inventory data
italys eni to invest in venezuelan projects
the purchase is part of an agreement between the two companies made in november 1981 saying that on or before each april 30 between 1983 and 1987 the companies would offer to buy one sixth of the number of life investors common stock outstanding as of dec
echo bay mines ltd said it discovered a gold deposit in the cove area near its mccoy gold mine in nevada
this is clearly not the case with texaco said one trader
analysts have said american medical has begun a turnaround by replacing some members of management and reducing costs
certain changes in filing requirements will shorten the tax return and in some cases simplify the form he noted
in the gulf strong demand from the far east pushed premium on small cargoes five to 10 dlrs above government selling price gsp for propane and 10 dlrs for butane traders said
the offer had been scheduled to expire may 15
azraai said while the growth in debt has been rapid in recent years it is still within the limits of prudence and conscious efforts have been made and will continue to be made to decelerate and restrain external borrowings he said the malaysian government is urgently addressing the twin deficits of the federal budget and the balance of payments which followed two recessions in the 1980s
what they have done is in direct violation of the federal aviation act usair said
oper shr 16 cts vs 11 cts oper net 660000 vs 447000 revs 9936000 vs 9005000 note 1986 net excludes 381000 dlr tax credit
a bid for control of media general would be subject to a recapitalization or possible restructuring and to possible changes in the charter documents and by laws of the company it said
with irvings price so low bank of new yorks offer will look good to irving shareholders said michael flores a consultant at bank earnings international a consulting firm
neti technologies inc said american telephone and telegraph co agreed to sell netis document transfer software
anchor glass said the conversion decreased its total debt and increased stockholders equity by about 94 mln dlrs and increased common shares outstanding to 13902716
the company said it does not intend to seek another buyer
baker says us willing to cooperate to stabilize exchange rates
however the utility cannot ignore the potential for sharper growth he said pointing out that demand was up 52 pct in 1986 and 47 pct per year in the past four years
analysts said the m0 measure reflecting variations in consumer demand rather than real inflation prospects was not an adequate indicator to determine interest rates
fears about the irish economy exacerbated by recent post electoral political wrangling in dublin prompted a sell off of ireland paper this morning with both dollar and mark denominated irish issues tumbling by a full point or more
the two acquisitions fit with a larger move by us companies embroiled in a take over or restructuring to sell off their canadian units to generate ready cash said nesbitt thomson deacon inc analyst harold wolkin
us industrial production rose 05 pct in february after a revised 01 pct increase in january the federal reserve board said
with money supply growth showing no sign of slowing down in may and the dollar stable or even rising against the mark schlesinger told that he was not convinced that a further cut in interest rates was needed
the bolivian government has yet to draw up proposals for debt equity swaps but the banker said it was planning to privatise more than 100 state companies and these could serve as a basis for such a scheme
in answer to a question on combineds possible exposure to aids related health claims ryan said it was minimal although he conceded that every carrier who provides coverage is vulnerable
inflation plan initially hailed at home and abroad as the saviour of the economy is limping towards its first anniversary amid soaring prices widespread shortages and a foreign payments crisis
we do need to do something with those currencies or we will be substituting japanese products for taiwanese products or those of other nations with currencies tied to the dollar baldrige told a house banking subcommittee
not only will these costs be unavailable for offset against the fields future profits but uplift of some 35 pct on these costs will be lost
uganda which earns about 400 mln dlrs annually from coffee exports over 95 pct of its foreign exchange earnings had sought to raise its ico quota to 30 mln from 245 mln 60 kilo bags according to sources close to the cmb
the coupon was set at 37 pct a record low for any government note and below the 38 pct set on the last two year notes auctioned in february
the us should quickly discard its prejudice against favourable tariff treatment for chinese goods and admit china into the generalised system of preference gsp despite easing of curbs on us technology exports in recent years control of them is still extremely strict and influences normal trade between the two countries it added the paper also printed an article by chinas commercial counsellor in its washington embassy chen shibiao who said that all kinds of difficulties and restrictions were preventing bilateral trade fulfilling its full potential
media general incs chairman d
no spokesman for either company was immediately available to say why terms could not be agreed nor whether the possibility of a bid was now being abandoned
among the benefits for the public will be increased competition in the commercial paper market and more convenient service for borrowers and investors the fed said
the issue will be listed in luxembourg
but in real terms the taiwan dollar has been flat against the us unit and the won has lost seven pct economists say
egypt is also a linchpin in the broad framework of us middle east policy
as a major sugar producer we are urging them to write a new agreement which would revive world prices yulo said
agency rent a car agnc sets stock dividend
du plessis earlier this year announced small concessions for taxpayers in a mini budget before the may 6 whites only election
us soymeal indicated between unchanged and one dlr a tonne lower compared with yesterday
in addition there are 95050 tradeable class a warrants and 100000 b warrants each of which entitles the holder to buy 10 shares of common stock at 125 dlrs and 150 dlrs respectively a share
liedtke did not say how large the unusual item would be
a mascot fraction hole returned assays including 0190 ounce gold ton over seven feet between 57 and 64 feet it said
donaldson lufkin co managed the deal which was increased from an initial offering of 30 mln dlrs
the commerce department on monday revised orders statistics for 1982 to 1986 to reflect more current inventory valuation methods and the february orders statistics are consistent with the revisions officials said
the company said it will change its name to hercules engines inc and stewart will be the majority interest owner as well as the president and chief executive officer
however the trend was reversed following a strong upswing in sterling versus the dollar and values fell back briefly to 4100 stg last month after approaching 4700 stg in december
valley resources vr sets split raises payout
takefman said he expects sales to rise to about 100 mln dlrs this year from 573 mln dlrs in 1986
leigh pemberton also called on companies to improve ties with institutional investors suggesting representatives of those institutions be granted seats on the boards of directors of companies they invest in
this yielded a profit of 3867 mln crowns and was reflected in catenas pre tax earnings which rose to 724 mln crowns from 204 mln in 1985
it was also shut earlier last week
royal resources corp said it has exercised its optioon to purchase montagu mining investments inc from samuel montagu ltd of london for 3600000 dlrs in cash and 200000 common shares
malaysian primary industries minister lim keng yaik said the formal adoption of a new pact had dispelled fears of liquidation of some 360000 tonnes of inra buffer stock rubber and a possible depression of prices
mathematical applications said the tentative agreement calls for pagex to buy substantially all of the assets and liabilities related to the direct marketing business and continue to use the mathematical applications name
for the year however the diversified holding company reported a net profit of 439 mln dlrs or 56 cts a share versus 464 mln dlrs or 56 cts a share in 1985
the government is depending on increased production of export commodities such as coffee tea rubber plywood and palm oil to offset revenue losses brought on by falling crude oil prices
uk money rates harden on lawson currency targets
it is in two equal tranches
this compared with six ships of 125150 gross tons a year earlier an association official said
it widened to 622 mln dlrs in january from 484 mln in december and compared with a deficit of 334 mln in january 1986 bank of korea figures show
a spokesman said the issue had already been placed in full
the bank declined to comment on its reasons for resisting pressure for a rate move before the budget but banking sources said the authorities see the recent rise in sterling as more than just marking up by foreign exchange traders
the us meat industry has launched an aggressive promotion campaign in japan to increase consumer awareness of us beef and persuade the japanese government to relax current beef import quotas
westinghouse interested in merger of radio unit
but he said the exchange is studying the feasibility of other contracts including one for three month mark interest rates and possibly a government bond contract
but he told the senate appropriations agriculture subcommittee that including wood products in the departments short or intermediate term export guarantee programs would conflict with us multilateral trade obligations
he gave no details of the price increases
you do a brazil
water sports network said it purchased 750000 dlrs in convertible debentures from ntn communications inc the companies said they are exploring ways to mutually market the programs and properties of each company
a committee of independent directors of the standard oil co unsuccessfully sought a delay in a tender offer for standard shares by british petroleum co plc according to offering documents
figures released yesterday show all forms of savings by individuals and public and private firms including bank deposits certificates of deposits and bonds are running at about 37 pct of gross national product gnp gnp rose by 1435 pct in 1986 to 274 trillion dlrs
opecs problem is not a price problem but a production issue and must be addressed in that way said paul mlotok oil analyst with salomon brothers inc
mountain states mtsr addes two properties
gencorp gy group to seek anti greenmail vote
financial corp of santa barbara said its santa barbara savings and loan association subsidiary is offering 25 mln dlrs of convertible subordinated debentures due 2012
a treasury official said there are no plans to try to reduce the us budget deficit by issuing yen denominated bonds that would become known as reagan bonds it simply isnt something that we are planning to do the official said
the meeting came after baker criticised west germany for increasing short term money market interest rates
a group of firms led by gabelli group inc told government regulators it holds a 285 pct stake in digiorgio corp common stock and said two partnerships making up part of the group may seek control of the company
the unit makes valves and marine specialty equipment for the military
mead mea files 150 mln dlr shelf registration
one hundred members of britains ruling conservative party have signed a motion calling for trade sanctions against japan to force tokyo to open its domestic market to british goods
the possible interest rate declines are a major reason why leading us farm organizations such as the american farm bureau federation have recently endorsed the idea
however it is likely that some weather damaged grain was still being held on farms and further milling and feed wheat may be delivered following the recent announcement of the final guaranteed minimum price for 1986 87 he said
the rescheduling is over 10 years with five years grace and carries an interest margin of 1 2 pct over libor
barreto said there was no reason to exclude any operator whether public or private from the tenders
they said the joint venture made a profit of 15 mln nz dlrs on the deal but they did say how many shares they had sold
british printing holds 460600 shares and 56 mln dlrs worth of debentures
us feb industrial production rose 05 pct
in a filing with the securities and exchange commission cross said he proposed the takeover to the board of the new york publishing house today
the february us producer price index gained only 01 pct less than a 03 04 pct expected rise
an election could be delayed until mid 1988 but most forecasts say it will be this year
the network said the changes it seeks would reduce costly duplication and are vital to nbcs long term health the major us networks have experienced cost cutting campaigns following a series of ownership changes that affected the parent companies of all three in the past two years
singapore m 1 money supply up 37 pct in december
the issue will be listed in luxembourg and is available in denominations of 1000 and 10000 australian dlrs
spain has revised some of its main economic targets for 1987 after studying the performance of the economy in the first quarter the economy ministry said in its monthly bulletin
proposed offerings recently filed with the sec
nspa said the figures include only nspa member firms
the tonnage of goods passing through ivory coasts main port of abidjan rose 23 pct last year according to the ivorian chamber of commerce
shr loss nil vs profit nil net loss 90656 vs profit 892 revs 2194242 vs 2481784 avg shrs 195 mln vs 161 mln nine mths shr profit nil vs loss one ct net profit 42824 vs loss 149150 revs 6364992 vs 6503811 avg shrs 195 mln vs 161 mln note net includes tax credits of 98338 dlrs vs 81492 dlrs in quartrer and 193193 dlrs vs 226560 dlrs in nine mths
but he added thats only an idea
asked if the six nations had agreed to stabilise the dollar at about 153 yen the rate prevailing at the time of the paris talks miyazawa declined to give specific figures and said any mention of specific rates would create an unexpected situation
in addition the company said sealy inc of which its owns 82 pct redeemed the outstanding sealy stock held by michigan sealy thus increasing the companys stake in sealy to 93 pct
in response to a query on what the state departments position is on selling subsidized wheat to moscow shultz told the leaders of the national association of wheat growers that prices must be competitive if the us is going to trade
the exxon corp subsidiary said the changeover to the 89 octane unleaded fuel will begin late this month and early next in major markets in virginia maryland florida and the district of columbia
the officials said hard red spring wheat prices at chicago denver and toledo were adjusted by about the same amount as at pacific northwest duluth and minneapolis
the loss of aid and sugar supports will cost fiji about 10 mln dlrs a year
the debenture is convertible to one mln common shares of first toronto for a period of five years
rates for adjustable rate mortgages decline eight basis points from early february to 843 pct in early march the bank board said
martinez told reporters the price fall since the ico failed to agree export quotas on march 1 has had disastrous results on latin america both economically and politically
crude for delivery in may closed 17 cents higher at 1884 dlrs a barrel
the board said that to continue to oppose the emi palmieri group would only increase the expenses of the company create further uncertainty among its suppliers customers and employees and result in deterioration of moral among company personnel
texaco shares were being indicated by over the counter share dealers here at around 26 to 28 dlrs compared with fridays close in new york of 31 7 8 dlrs
of the weeks borrowings money center banks accounted for 65 pct and small banks for almost 35 pct
he said some of this subsoil was apparently washed away
artra group inc ata 4th qtr oper loss
ferry disaster may rank among worst tragedies
government securities outstanding fell three mln dlrs to 22408 billion dlrs in week ended march 11 treasury bills rose 600 mln dlrs to 7515 billion dlrs and canada savings bonds fell 294 mln dlrs to 4405 billion dlrs
the parent companys net profit rose to 6666 mln francs from 5929 mln in 1985 and the company planned an unchanged dividend of 145 francs per share and 29 francs per certificate after placing 170 mln francs in reserves against 95 mln last year
terms of the transaction call for pittston to exchange 0523 of its own common shares for each outstanding wtc share pittston said
the foreign exchange rate was set at 21381 singapore dlrs to the us dollar
new rates which affect both indian and foreign banks also include a one percentage point gain to an annual 10 pct on deposits of two years or more but less than five
qtly div 25 cts vs 25 cts prior payable july one record may 7
i dont know what she said
we are still consulting to see how the new measures will affect us but it is too early to say just how we shall fare under the new situation peter hansen director of operations and third in the zccm hierarchy told 
it said the sale price of 2533000 dlrs consisted of 700000 dlrs cash a secured promissory note for 1506000 dlrs and the forgiveness of a debt of 327000 dlrs owed by johnson products to debbies school
martin sosnoff who has offered to buy caesars world inc for 28 dlrs a share said senior officials of the company have offered to buy back the caesars stake he already holds now 136 pct of the total outstanding
they need to support the stock and security markets he said
south korea increases duty on crude imports
the company said sales of the 3m products will have a material impact on its sales for the balance of 1987
it said mnc financial inc is the proposed new name for the parent company
french operators have requested licences to export 422000 tonnes of free market maize 212000 tonnes of barley and 20000 tonnes of feed wheat at todays ec tender trade sources said
southland did not elaborate on the sec order of investigation and company officials could not be reached for comment late tuesday
micropolis mlis sells convertible debentures
the spread is 50 basis points
the company said it believes the conditions of the commitment letter will be satisfactory to princeville
yeutter made his remarks at a us israeli trade meeting marking the second year of their bilateral accord
the us and kuwait have been negotiating for over a month on methods of protecting kuwaiti ships
the miners were willing to negotiate with the government of president victor paz estenssoro but only if it showed an intention to meet the strikers demands
qtly div 15 cts vs 15 cts prior pay march 31 record march 13
qtly div 10 cts vs 10 cts prior pay april 30 record april 15
zayre zy plans more store openings in 1987
selling shareholders may earn an additional amount up to a maximum of eight mln dlrs payable in cash based on the future performance of the companies acquired during the three years ending march 31 1990 international said
the facility would buy up some of the debt of less developed countries and sell it to banks at a discount
the tap will consist of 70 mln dlrs in floating rate notes paying and an additional equivalent amount of zero coupon bonds also at a deep discount of 20 cents on the dollar
dole told the national corn growers association that he thought the proposal supported by the reagan administration should be seriously considered because a refusal to do so could play into the hands of those who want mandatory controls placed on production
the report said the abolition of the five pct cpo export tax the devaluation of the rupiah in september 1986 and higher international palm oil prices should lead to a modest increase in exports this year
redstone said he was weary after talks dragged on through the night but also excited at the prospect of running a leading electronic media company
they added that the choice for future years appears to lie between a system of regular tenders and the setting of a daily special levy applicable to spanish imports
carteret said it may open more loan offices in virginia and maryland
qtly div 13 1 2 cts vs 12 1 2 cts prior qtr pay 12 june record 21 may
earnings in 1986 before extraordinary items were 74 mln dlrs
a month ago nippon investors service inc nis assigned an aaa rating to financial securities assurance inc a us firm that gives financial guarantees on corporate securities
shr loss 51 cts vs loss 44 cts net loss 18 mln vs loss 15 mln revs 31 vs 54 mln nine months shr loss 116 dlrs vs loss 133 dlrs net loss 40 mln vs loss 46 mln revs 99 mln vs 123 mln
nbc makes final offer to writers technicians
reagan has approved plans for the united states to step up its naval presence in the gulf despite congressional expressions of concern and he has called on us allies to help maintain freedom of navigation
gaf a roofing and chemicals concern attempted a takeover of the much larger union carbide corp two years ago
the dividend is designed to deter national computer or other potential suitors from preventing datacard from evaluating all alternatives to maximize shareholder value datacard said
hicks and haas group gets financing for spectradyne acquisition
usda will release its official signup report around april 15 an official said
santos ltd stoss said it would buy total exploration australia pty ltd from total holdings australia pty ltd a wholly owned subsidiary of total cie francaise des petroles lttpnpa total exploration had interests ranging from 1875 to 25 pct in four blocks in permit atp259p in south west queensland santos said in a statement
we have always been amenable to try as far as we can to assure that the two aluminum smelters remain viable he said
ensource inc eee 4th qtr loss
shr 51p vs 42p making 153p vs 127p for nine months
venezuela budget sees 1635 dlrs oil price
utvegsbanki director halldor gudbjarnarson told the decision to privatise the bank was a relief and that foreign banks had already expressed interest in taking a share
iroquois brands ibl rebuffs lyon foods claims
conoco was the last company to raise prices following a series of increases initiated last week by sun co sun which reversed the posted price cuts made at the end of february
currency futures to key off g 5 g 7 meetings
the foundation now controls 141 pct of ericssons voting rights with 223 pct held by the groups investment companies ab investor and forvaltnings ab providentia the move comes after the wallenberg group fought off a hostile takeover bid earlier this month for match and packaging conglomerate swedish match ab smbsst from arms and chemical concern nobel industrier ab noblst by increasing its stake in swedish match to 85 pct from 33 pct
spie batignolles could increase comstock holding
after that the rate will be reset quarterly
the bond is available in denominations of two mln lire and will be listed in london
active timecharter fixing by soviet operators to cover ussr grain imports featured the freight market ship brokers said
as alternatives to the rate increase the company has also proposed allowing la electricidad a grace period on payment of the exchange risk premium to the central bank a longer period to pay it or a soft loan from the government
a statement yesterday by secretary of state george shultz after he met with wheat growers that us agricultural products must be competitively priced was significant in that he recognized the importance of the soviet market and the need for us prices to be at world market levels us grain trade industry officials said
the officials met at the offices of the international monetary fund imf to discuss broad aspects of world monetary policy in preparation for the imfs interim committee meeting in washington in april
dealers noted that under the chapter 11 filing noteholders will receive no interest payments
banks made heavy use of the lombard emergency funding facility to meet month end payments and borrowed 31 billion marks a rise of 29 billion over the week before
australian industry development corp is issuing a zero coupon eurobond with total redemption amount 30 mln australian dlrs lead manager orion royal bank ltd said
the treasurys operating cash balance totaled 16332 billion dlrs on march 6 compared with 17817 billion dlrs on march 5
another 3800000 dlrs of gain from the multi family sale will be recognized in 1987 if multi family meets targeted operating results
but they offered no glimpse of a grand design to banish the specter of a widespread repudiation of the regions 380 billion dlr debt
if export markets dry up because of recession or protectionism speakers warned latin america will be even more hard pressed to service its debts
we want a good basic industrial company that will fit into our management structure durham said
japan must try harder to reduce its trade surplus or the yen will come under renewed upward pressure economic planning minister tetsuo kondo
the total consideration will be 29 mln us dlrs of which 50 pct will be payable in cash and 50 pct by the issue of 136 mln new ordinary shares in blue arrow
it did not identify the buyer nor give the selling price
this brings the bank total help so far today to some 87 mln stg and compares with its latest forecast of a 250 mln stg shortage in the system today
the department said government spending on farm programs in fiscal year 1987 is projected to fall half a billion dlrs from 1986s 258 billion dlrs
it said chairman and chief executive officer victor m
asarco inc said it made a public offering of 3500000 shares of its common stock today through an underwriting group led by the first boston corp
shr loss 220 dlrs vs profit 24 cts net loss 758 mln vs profit 116 mln avg shrs primary 359 mln vs 365 mln avg shrs diluted 393 mln vs 399 mln nine mths shr primary loss 704 dlrs vs profit 169 dlrs shr diluted loss 704 dlrs vs profit 164 dlrs avg shrs primary 359 mln vs 372 mln avg shrs diluted 393 mln vs 466 mln net loss 2434 mln vs profit 722 mln assets 334 billion vs 341 billion loans 108 billion vs 120 billion deposits 169 billion vs 170 billion note net includes fslic sepcial assessment loss of 5429000 vs 5193000 in qtr 1987 vs 1986 and 163 mln vs 160 mln in nine mths 1987 vs 1986
fed funds which averaged 621 pct on monday opened at 6 1 8 pct and remained at that level in early trading
the commodity credit corporation ccc has accepted bids for export bouses to cover sales of 150000 tonnes of us barley to saudi arabia the us agriculture department said
the maximum rebate of 46864 ecus per 100 kilos on wednesday was the largest ever granted according to traders
french treasury details planned tap issue
the commodity credit corporation ccc has accepted one bonus offer from an exporter on the sale of 4400 tonnes of barley malt to nigeria the us agriculture department said
the company bought back goldsmiths stock for 620 mln dlrs giving him a 93 mln dlr profit
russ togs inc rts sets quarterly
uk reserves rise underlying 1785 billion dlrs in march official
norstar nor fleet flt to merge
some managers said they would prefer to abolish the system
the report showed a rising volume of exports corresponding to a decline in imports despite the fact that in current dollar terms the us trade deficit worsened during the closing three months of 1986
the chances are very good as of now of getting buffer stock rules by the end of next week ghanaian delegate and producer spokesman mama mohammed told journalists
iraq and china have barter deals with brazil importing brazilian goods in exchange for oil but the saudis buy nothing from brazil he said
world bank president barber conable called on japan to boost investment in developing nations for its own sake as well as that of the world economy
you can make the case that the deal is not 13 16 pct one banker said
qpl is already owned 483 pct by hwt
nippon steel to reduce dividend
csr ltd csras and exxon corp xon unit esso exploration and production australia inc said csr has agreed to sell its delhi australia fund daf to esso for 985 mln australian dlrs
swedish trade surplus rises in february
federal deposit insurance corp chairman william seidman said he would be concerned about the impact on banks of a further sharp rise in interest rates
world bank president barber conable is expected to press indonesia the third worlds sixth largest debtor to maintain the momentum of economic policy changes to tackle the slump in its oil revenues western diplomats said
atlantic research corp said it has completed the acquisition of professional services firm ori group for 1414313 common shares on a pooling of interests basis
mid week saw these same sales covered by the trade at 10 15 points discount
moodys said the downgrade reflected its concern over prospects for material improvement in the holding companys operating profitability in the medium term
winter wheat areas from eastern czechoslovakia through northern romania had light snow flurries yesterday and last night but amounts were an inch or less
kellogg pointed out that venezuela now imports all of its btx aromatics
hughes tool ht board approves merger
arkansas best abz sees lower first qtr net
qtly div 10 cts vs 10 cts prior payable april 30 record april 10
us corn growers blast canada corn ruling
alcan to close west german smelter
shr 86 cts vs 73 cts net 527 mln vs 457 mln revs 9899 mln vs 8639 mln six mths shr 197 dlrs vs 128 dlrs net 122 mln vs 799 mln revs 2078 billion vs 1726 billion
atcor atcoo seeks buyers for consumer business
a final dividend of 92p was proposed after a final 82p last year
smartnames inc said it reached an agreement in principle to buy american information network
indonesia cuts july crude supplies to japan
but the government expects prices to fall after the wheat harvest next month
the economists said a key element in the narrowing would be a reversal of the drop in exports which took place in january after a sharp rise in december when the deficit was only 598 mln dlrs
shattner said the company expects to report a profit of five pct or about 350000 dlrs on sales of seven mln dlrs for the second quarter ended january 31
iomega said the first quarter loss will place the company in default under certain covenants in its bank line of credit unless these covenants are modified
total opec oil supply totalled 172 bpd in the first quarter of 1987 compare with 193 bpd in the last three months of 1986 while supply from non opec countries totalled 28 bpd as against 282 bpd in the same 1986 period
ongpin told reporters after a meeting with businessmen the government was planning to issue between 100 and 150 mln dlrs worth of pins at a discount of about 125 pct this year
he said he plans to combine the company with republic to form an efficient network of hospitals
the bank last adjusted its short term treasury certificate rates on march 23 when it also reduced rates for all three periods by 010 points
wolter had been senior vice president finance and chief financial officer of rapid american corps mccrory corp unit
cameron smail said the company seeks to help the development of such a market as it would provide a new funding base for its medium term assets
february trading encompassed a new daily record of 66087 contracts on the 19th of the month exceeding the previous record of 61398 which had been set on february 6 liffe said
ricart currently the dominican republics ambassador to austria the netherlands and the un in geneva said he will visit the four major exporters australia brazil cuba and the european community to talk to governments and producers and find out about problems that are preventing these countries finding common ground for a new sugar pact
iran soviets to hold talks on oil exchange deal
a cyclops spokeswoman said the company had no immediate comment on the sweetened bid from cyacq
meanwhile a un spokesman said that as far as he knew a report to the council and secretary general javier perez de cuellar on the action had not been received from the americans
fed chairman volcker says bank proposals a worry
caesars world says it considers restructuring and sale to other company
traders said the supply squeeze in 15 day forward april brent appears to have ended
its fundamentally in their best interest
pillsbury said loss of investment tax credits under the 1986 federal tax reform act reduced per share earnings by nine cts in the quarter and 19 cts in the nine months
atlantic richfield arc unit buys technology
the project extends through 1991 and will help magyar posta the state enterprise overseeing the telecommunications sector meet its long term development goals
he added the performance of seven businesses bought last year was encouraging
the eln demands the government charge the penalty
pantasote inc pnt 4th qtr loss
finnish unemployment at 67 pct in december
permits for single family houses fell in january by 66 pct to 1091000
includes pretax gain from sale of common stock in guaranty national corp of 5722000 for year
potash producers from new mexico claiming unfair government subsidies are seeking a 43 pct tariff on canadas shipments
keystone has two affiliates with combined assets of 205 mln dlrs
a hearing is set for march 20
the seven year bond pays 11 pct and is being issued at 101 of par payment date is may 20
this gain he said will be balanced in 1987 by a return to profitability by aseas power transmission segment which had a loss of 183 mln crowns or 269 mln dlrs last year
earlier we sent some food back to britain as a precautionary measure but we stopped in the absence of any alarming signals he said
the company also said certain lenders agreed to take a 24 pct stake in the company by converting seven mln dlrs of debt into preferred stock
the recent introduction of three month money and these new regulations are decreasing the role of the call money market and the discount rate as monetary instruments kullberg said
when baker and volcker left the speakers office they knew it wasnt just talk one source at the meeting said
shr profit two cts vs nil net profit 403000 vs loss 51000 revs 9609000 vs 4495000 nine mths shr loss one ct vs loss four cts net loss 171000 vs loss 799000 revs 176 mln vs 133 mln note full name is strathcona resource industries ltd
trans world airlines inc said it reached an agreement yesterday in federal court with usair group inc that prevents twa from buying additional shares of usair
the us senate finance committee approved nonbinding resolutions urging the reagan administration oppose canadas ruling on us corn imports and a proposed new european community tax on vegetable oils
kobena erbynn of ghana in the post
the margin money for other red bean months will remain unchanged at 60000 yen except new distant august for which the requirement will also be set at 60000 from march 2
shr 70 cts vs 61 cts net 2002 mln vs 1739 mln sales 138 billion vs 126 billion nine mths shr 187 dlrs vs 154 dlrs net 5356 mln vs 4378 mln sales 404 billion vs 363 billion note share adjusted for two for one stock split
austria does not intervene to support dollar
it hasnt been abolished at all he told in an interview
lawson said he will propose that all companies and building societies be treated the same way on payment of corporation tax with all liable to pay corporation tax nine months after the end of the accounting period on which the tax is due i also propose to legislate now to pave the way for a new method of collecting corporation tax to be known as pay and file this would be part of a wider programme of streamlining tax collection and would not come into force until the early 1990s
he will continue to serve as a director it added
they said the firm like other investment banks needs capital to expand globally
colombia the only major latin american country not to have rescheduled its external public debt has a total foreign debt of 136 billion dlrs
avx corp avx debt affirmed by s p
we cannot allow it to be jeopardized by unfair trading practices reagan added in the statement from his california vacation home at santa barbara
gtx noted that nippon is expecting sales of 27 billion dlrs by 1995
aaa ratings were assigned to eastman kodak cos 135 mln us dlrs of 7 1 8 pct euronotes due 1987
the tender will be financed with islamic development bank credit
the revenue to the ec from the tax would simply be used to finance the ecs own oilseed subsidy machine he said
rjr nabisco rjr to redeem 12 billion dlrs notes
rubber talks chairman cites slight progress
trading in perpetual floating rate notes about 17 billion dlrs of which are outstanding has come to a virtual halt as prices plunged
kleinwort benson ltd kidder peabody and co ltd drexel burnham lambert inc deutsche bank ag and wi carr sons and co each get 01 pct
the bonds are callable after seven years at 100 1 8 pct and it will be listed on the london stock exchange
chairman charles strang and wayne jones vice president for strategic planning are meeting with portfolio managers in new york and boston to line up interest for the offering underwritten solely by morgan stanley the officials said
the new dividend rate represents a 32 pct increase over the 12 1 2 cts paid quarterly on a pre split basis
there is a broad agreement on the content of the policy package for a structural reform the official said
shr 45 cts vs 36 cts net 2554000 vs 1954000 revs 444 mln vs 325 mln nine mths shr 100 dlrs vs 75 cts net 5461000 vs 3756000 revs 1095 mln vs 899 mln
the dominican republic already has a larger sugar quota yulo said
the question is therefore how large a rise he is ready to see before acting
canadian industrial production rose 253 pct in december after falling 051 pct in november statistics canada said
all exports must be completed by september 30 1987
results from these had been taken only partly into the fourth quarter of that year but fully included in 1986 data
sosnoff is caesars worlds largest shareholders with 4217675 of the companys shares
projected fiscal 1988 requirements are 213 billion dlrs
speaking to reporters at the annual meeting of the inter american development bank nogales said bolivias bank advisory committee led by bank of america is seeking permission from creditor banks worldwide to go ahead with the scheme
at last months council session a splinter group of small producers backed consumer demands for new quota shares based on exportable production and stocks while brazil colombia and the rest of the producers favoured leaving quota allocations unchanged except for some temporary adjustments
chase acquires 370 mln dlr revolving credit
first union func sells debt at 8 1 8 pct
japan us agriculture talks set for april 17 20
taft earlier rejected a 145 dlr per share or 135 billion dlr bid from the investment group
however sale of japanese farmland is strictly controlled by the government so i began to look for the land in the us to make my dream to own farm land come true nakamura said hundreds of companies exist in the us to sell farmland to investors as more and more farmers face difficulties due to the recession in us agriculture
shr profit 63 cts vs 22 cts net 775868 vs 276446 revs 2255742 vs 706130
city savings bank of meriden csbmo 3rd qtr
domestic issues have slowed to a trickle as more and more companies turn to more flexible overseas markets for cash but the proposed moves are expected to pave the way for a review of public bond issues they said
two us government agencies are in dispute over a proposal for us firms to sell computers to iran officials said
federal reserve board governor robert heller said that the dollars current level is appropriate but declined to comment on widespread market reports of concerted central bank intervention this week
it noted that earnings more than doubled in 1986 to 454 mln dlrs
invacare also reported 1986 net income of 34 mln dlrs or 60 cts a share up from a loss of 11 mln dlrs or 19 cts a share in 1985
publicker industries inc pul 4th qtr loss
the sources said large quantities of beans are believed to have been undeclared from this years record total harvest and they were unsure how much of this would be unregistered by the end of the official crop year on april 30
yukio honda director of mitis industrial electronics division denied that japanese chipmakers were selling at below cost in third countries
corroon and black cbl completes acquisition
ecuador says will resume limited oil production
it said a subsidiary will own a 49 pct stake in valero natural gas
chrysler c to use telecredit tcrd product
second in the united states it could damage investors confidence in the dollar and thus reduce their willingness to finance huge fiscal and external payments deficits gleske said
baybanks inc bbnk raises qtly dividend
lyng said to have no comment on ussr wheat eep
we have almost no grey market he said
us asks congress to revise tariff categories
the company said its board is scheduled to meet march 27 for its regular monthly sessions
the semi official anatolian agency recently quoted turkish minister of industry and trade cahit aral as saying turkey would export 100000 tonnes of sugar this year and import the same amount
the company has manufacturing facilities in dallas and phoenix
argentina is expected to qualify for imf balance of payments financing which would enable argentina to repay a multilateral bridge loan and support the implementation of its economic program the statement said
there will be no changes in the estimating program for citrus in texas or florida
we were willing to live in the old smithsonian era with a four pct shift he said referring to permitted currency fluctuations in the early 1970s
australias terms of trade fell by a further 35 pct in the fourth quarter of 1986 after declining 08 pct in the third quarter and 27 pct a year earlier the statistics bureau said
ed jenkins a democrat from georgia agreed to hold off his fight
shr 130 dlrs vs 185 dlrs net 100000000 vs 144000000 sales 190 billion vs 169 billion nine mths shr 501 dlrs vs 527 dlrs net 392000000 vs 410000000 sales 579 billion vs 531 billion note 1986 figures include 63 mln dlrs or 81 cts a share of net gains from facilities and businesses sold shut down or impaired and other non recurring income and expenses
horizon shares jumped 23p to 188 after the announcement while bass shares dipped 13p to 879
lotus development corp said it has signed a letter of intent to acquire substantially all of the assets of computer access corp for undisclosed terms
on february 22 the finance ministers and central bank governors of the us japan west germany france and the uk the group of five plus canada signed an accord under which they agreed to cooperate closely to foster stability of exchange rates around prevailing levels
hundreds of marines were on alert at 11 key brazilian ports after 40000 seamen decided to remain on indefinite strike even after the higher labour court saturday ruled it illegal union leaders said
shr 84 cts vs 86 cts net 3893000 vs 4054000 revs 210 mln vs 212 mln nine mths shr 188 dlrs vs 187 dlrs net 8707000 vs 8848000 revs 579 mln vs 591 mln note 1986 per share adjusted for three for two stock split effective june 1 1987
they noted that on february 16 the eve of a planned increase in the quota april registrations were opened and closed after 168 mln bags were registered for export a record amount for a single day
saudi arabia the worlds largest oil exporter will continue to restrain production as long as other opec members adhere to the pact nazer said
terms will be fixed on april 2 with payment due april 22
nippon life is japans largest insurance company and the worlds biggest institutional investor analysts said
murgold resources mgdvf details assays
naples federal naf revises loan agreement
hawkeye bancorps 1986 annual financial results were qualified by its auditors according to the annual report
shr 60 cts vs 85 cts qtly div 10 cts vs 10 cts prior net 1407000 vs 1996000 sales 754 mln vs 582 mln note dividend pay april 16 record april nine
lyng who plans to be in japan april 14 27 said he will not ask tokyo to liberalize fully its rice market
leonard chavin a chicago real estate developer who has said he is considering seeking control of le myers co group said he raised his stake in the company to 273100 shares or 121 pct from 219600 or 97 pct
mobil has moved to reduce debt at high interest rates which may reduce interest payments
bowater industries profit exceed expectations
the firms will apply to form the cartel to the ministry of international trade and industry today and approval is expected later this month the officials said
oper shr loss 12 cts vs loss 10 cts oper net loss 474270 vs loss 369848 revs 202500 vs 111210 avg shrs 3904373 vs 3495579 year oper shr loss 28 cts vs loss 46 cts oper net loss 1069550 vs loss 893612 revs 408031 vs 438933 avg shrs 3785607 vs 1944627 note full name is north american group ltd earnings exclude losses on reorganization expenses of 33453 dlrs or one ct a share vs 59520 dlrs or two cts a sh are in the quarter and losses of 237859 dlrs or six cts a share vs 413444 dlrs or 21 cts a share for the year earnings exclude gains on discontinued operations of 147671 or four cts a share in the 1985 quarter and gains of 760603 dlrs or 20 cts a share vs 520200 dlrs or 27 cts a share for the year
sterling today appeared resilient to the dollars decline dropping only slightly on a cross rate basis
canadian bonds close slightly lower
motor wheel corp is raising 100 mln dlrs through an offering of senior subordinated notes due 1997 with an 11 3 8 pct coupon and par pricing said lead manager painewebber inc
under the agreement announced last month ferruzzi acquired all the equity and assumed subordinated term debt of about 195 mln dlrs in a trction valued at about 370 mln dlrs
labour productivity rose 37 pct in the first nine months against 48 pct growth in january to september 1986
it said the new unit will operate in new york pennsylvania ohio west virginia louisiana and texas and compete with other markets for delivery of low cost natural gas supplies
dixon groups offer extends to march 17
it said the first tranche of an undisclosed amount was sold today through goldman sachs and co inc and that the paper last week had received the top a 1 p 1 rating of standard and poors corp and moodys investors service inc respectively
heinz said oreilly will retain his present titles of president and chief executive officer
japan wants to resolve the issue through consultations by explaining its stance thoroughly and correcting the points that need to be corrected he was quoted by kyodo news service as saying
white house welcomes rise in indicators
invisible earnings rose to 677 billion from 509 billion while invisible spending climbed to 751 billion from 706 billion he said
while oil prices have strengthened somewhat and there is good reason to believe that the general level is sustainable continued volatility is likely texaco canada added
enserch issues 100 mln dlr convertible bond
the rest would be new sales
but it can still deal in bally stock as a broker it said
japan march interim trade surplus falls
chigaga told that guidelines on the functioning of the new economic prgram would be released soon
house speaker jim wright of texas told reporters before the opening of the house session it just shows we were right all along when we said something needs doing smart testified before a senate labor committee hearing that last fridays us trade action would help us negotiations on access to japan for us auto parts
taiwans 1986 trade surplus with washington was the third largest after japan and canada
this years proposal called the foreign agricultural investment reform fair act would require the us to vote against loans designed to increase production of surplus commodities and minerals
bryson pays 54 mln dlrs for cenergy corp stake
may ma reports strong 1st qtr start
fiat preference shares and savings non voting shares gained even more strongly closing at 7740 and 7841 lire respectively against 7353 and 7600 friday
he said the dollar would not continue to fall because of underlying market concern about the rapid rise of the yen
the bonds were sold yesterday
the bank of england said it revised its forecast of the shortage in the money market down to around 700 mln stg from its original estimate of 800 mln
the agreement is subject to approval of blue arrow shareholders
the amc purchase is larger and riskier than current ratings anticipate but any downgrade would be small and chrysler would remain investment grade s and p said
sale tilney plc said it has purchased 80 pct of the ordinary share capital of b and r international inc
oper shr profit 34 cts vs loss 53 cts oper net profit 3337000 vs 4881000 revs 327 mln vs 496 mln year oper shr profit 20 cts vs loss 90 cts oper net profit 2374000 vs loss 9381000 revs 1269 mln vs 1605 mln notes operating net excludes loss 6050000 dlrs or 64 cts a share vs loss 24839000 dlrs or 261 dlrs a share in quarter and loss 6050000 dlrs or 64 cts a share vs profit 64013000 dlrs or 627 dlrs a share from discontinued operations 1986 loss from discontinued operations includes 60 mln dlrs charge equal to 64 cts a share to provide for additional liabilities resulting from the 1981 closure of lead zinc and silver mining smelting and refining business 1986 year operating net includes pre tax gain of 53 mln dlrs equal to 56 cts a share from pension plan termination and gain of 52 mln dlrs or 56 cts a share from reduction in deferred taxes effective jan 1 1987 company changed oil and gas accounting to successful efforts from full cost increasing 1986 year net 92 mln dlrs or 98 cts a share and increasing 1985 loss 43 mln dlrs or 43 cts a share
if we are to achieve our true potential the floor members must give the market much more time and attention he added
borg warners other businesses include automotive parts protective services which includes wells fargo security guards and chilton corp a credit rating service
figures for 1986 87 are midpoint of usda range
analysts said they believed the reserve bank had worked successfully in recent months to keep the australian dollar within the range of 100 to 103 yen
the dividend was lower than in 1985 because the record profit of the previous year could not be repeated due to changed market conditions it said
trading companies have also been hit some caught with huge inventories of construction equipment as recession bit
bank mees en hope nv a fully owned subsidiary of algemene bank nederland nv said it launched the second tranche of a 100 mln guilders commercial paper program for the city of the hague
they understood our position and we believe we remain within the spirit of the quota agreement he said
japan must try harder to cut surplus minister
the notes are guarantees by long term credit bank of japan ltd
provisions for general contingencies were reduced in 1986 by 41 pct to 575 mln guilders while taxes increased by 21 pct to 242 mln guilders he added
this compares with 128 mln and 868700 tonnes last season
western which makes polystyrene foam and container products has net assets of 193 mln dlrs and reported a 1986 pre tax profit of 09 mln
utilities investment inc said it still is offering to acquire pennsylvania enterprises inc for 55 dlrs per share
boise homes sold commercial and residential prefabricated structures modulaire said
rockefeller reminded bankers of the depth of concern over latin american debt at the toronto world bank international monetary fund meeting in 1982 and said an accord would be reached in the current circumstances just as it had been then
pse inc pow 4th qtr
but futures markets will never take root unless they are backed by substantial liquidity in cash bond markets dealers said
gaf corp said its board has authorized the repurchase from time to time of up to seven mln of its common shares or about 21 pct for cash in open market purchases or private transactions
it said subject to fulfillment of certain conditions the price of the shares to nim will be 796 cts per share and said it will issue 376955 shares to the partnership
leigh pemberton said the bank of england had not wanted base rates to fall before the unveiling of the 1987 88 budget on march 17 but he said pressure from financial markets for such a move had proved irresistible
verhofstadt proposes beginning the selloffs in the last quarter of 1987 with the sale of 30 to 40 pct of state investment company sni
banking center said it has signed a letter of intent to acquire first railroad mortgage co from first union bank of augusta ga for undisclosed terms
french free market cereal export bids detailed
in the second half of the year we expect the saudis not to produce at their 41 mln barrel a day quota and therefore act as a vehicle to stablize the market and pave the way for a two dlrs a barrel price increase at the december 1987 meeting he said
wholly owned subsidiary lyonnaise de developpement touristique would carry out the construction work and financial planning of the development which would be leased to club med as operator of the complex he said
the miti spokesman said if the percentage of grey market is increasing for one specific company it suggests they are distributing their products through their sales network knowing they will be exported by some means
celina financial corp said shareholders at a special meeting approved a transaction in which the company transferred its interest in three insurance companies to a wholly owned subsidiary which then sold the three companies to an affiliated subsidiary
we must find an equilibrium between foreign adjustment and internal adjustment funaro said
recent and prospective whites buying in the world market was supportive but the raws section lacked feature dealers said
sosnoff said southmark corp and affiliate pratt hotels corp have ended talks with his mts acquisition corp on a possible joint venture for the acquisition of caesars world inc
samjens lawyers acknowledged it received information from painewebber but argued the information was public information and could be obtained either from texitle industry analysts or burlingtons public financial statements
keith goodrich said
prime minister yasuhiro nakasone will visit washington next month in a bid to defuse mounting us anger over japanese trade policies but western diplomats said they believed his chances of success were slim
on wednesday dixon said it had bought 54 pct of cyclops 43 mln shares outstanding boosting its stake in the company to 56 pct
marshall steel details gain from unit sale
they said prices which have steadily climbed since the organizations accord in december have risen on technical factors within the market and concerns about supplies because of the iran iraq war which could disrupt deliveries from the gulf
bsn bsn buys stake in macgregor mgs 
cellular inc said it reached a definitive agreement to sell assets of its wholly owned michigan cellular inc to century telephone enterprises inc ctl and add 28 cts a share to the years earnings as a result
first union func acquisition advances
it is the other way round valentchits said
ottawa seeks explanation of credit card rates
enviropact viro to make acquisition
reagan would be able to block any takeover found to be damaging to us economic or national security interests
central illinois cip 12 mths feb 28 net
african imports
telecom plus tele to change name
shr profit 78 cts vs loss 38 cts net profit 3108000 vs loss 1510000 revs 355 mln vs 471 mln year shr profit 242 dlrs vs loss 201 dlrs net profit 96 mln vs loss eight mln revs 1572 mln vs 1822 mln note includes extraordinary gains of 22 cts per share and 36 cts in the fourth quarter and 1986 respectively
the project also includes construction of liquified petroleum gas lpg storage tanks at santa cruz additional crude oil storage at both ends of the pipeline an ammonia complex at lazaro cardenas on the pacific coast and expansion of the infrastructure of the port of salina cruz ayala said
speculation the united states will offer subsidized wheat to the soviet union appears to have reached a new level of intensity in the run up to secretary of state george shultz visit later this month to moscow
kentucky central life insurance co said its bluegrass broadcasting co inc subsidiary has agreed to sell two orlando fla radio stations to tk communications inc for 135 mln dlrs subject to fcc approval
ssangyong construction raises 48 mln us dollars
the market has already located a ceiling for the yen and market forces are pushing the dollar back up a bit one senior finance ministry official said
malaysian central bank sees higher 1987 growth
burlington lawyers said shortly after he left he began working with a painewebber employee on a hostile plan to takeover the company dismember the company and displace its management burlington lawyer hubert humphrey said
revenues from trails smelter totaled 356 mln canadian dlrs in 1986
louisiana land and exploration co said it du pont cos conoco inc subsidiary and oranje nassau energie bv have been offered four exploration blocks offshore the netherlands
the offer which has been approved by the auxton board and is to be followed by a merger at the same price is conditioned on receipt of a majority of auxtons voting stock on a fully diluted basis
the company said the product lines it acquired had sales of 25 mln dlrs last year
japanese crushers starting to buy us soybeans for april shipment have recently made purchases of some 48000 tonnes trade sources said
ultramar 1986 net loss 621 mln stg vs 716 mln profit
its fiscal year ends march 31 the company said
he said an investigation of the drug being conducted by a house subcommittee is continuing
fuqua industries inc fqa sets quarterly
among the factors affecting liquidity it said bills maturing in official hands and the treasury bill take up would drain around 102 billion stg while below target bankers balances would take out a further 140 mln
they are like oil and water he said
the ec has come under prolonged attack from geplacea for what the group charges is its continued dumping of excess output on world markets
the commission riposted by signalling that it would sell the sugar sold into intervention back onto the ec market by tender a move that would push down prices
wheat for domestic consumption rose six australs per tonne to 118
exports rose to 1394 billion crowns in february from 1253 billion in january against 1416 billion in february last year
the dollar fell over the weekend on increased bearish sentiment after bakers comments said dai ichis tanaka
the company said its increased fourth quarter and full year operating losses primarily resulted from lower oil prices and a four month labor shutdown at its balmer coal mine in british columbia
sithe to raise energy factors efac stake
the following proposed securities offerings were filed recently with the securities and exchange commission southeast banking corp stb offering of 50 mln dlrs of convertible subordinated capital notes due 1999 through lazard freres and co
humana hum to buy intl medical assets
up to 300 people were feared dead and more than 15000 people left homeless by thursdays earthquake which will cost ecuador close to 800 mln dlrs in lost petroleum revenues authorities said
the index base 1980 equals 100 registered 1728 in january compared with 1709 in december
malaysia has also agreed to barter palm oil for 30 mln dlrs of hydroelectric equipment and is interested in countertrading for indian iron ore wheat and other goods and services he said
real estate firm cuts intermagnetics inma stake
a year after squeezing to power with a narrow bare coalition majority gaullist prime minister jacques chirac has swept away a cobweb of controls and regulations choking the french economy
mobil mob to restructure exploration unit
fees for the issue total 2 1 2 pct comprising 1 1 2 pct for selling and 1 2 pct each for management and underwriting
if these credit lines were cut we would face difficulties to honour our foreign debt in the future funaro said
usdas economic research service for example has found that between june and august last year the 215 mln bushels of corn exchanged for certificates lowered the price of corn by between 35 and 45 cents per bushel
mark iv corrects agreement with baird batm 
the new interest rate of 7 8 pct over libor on venezuelan public sector debt payments goes into effect today finance minister manuel azpurua said azpurua told reporters yesterday the reduction from the previous margin of 1 1 8 pct above libor will save the country some 50 mln dollars in debt servicing
it said year to date sales increased 79 pct to 364 billion dlrs from 337 billion dlrs in the same 1986 period
in the speech the usx chairman also called for changes in securities laws to curb what he called abuses by corporate raiders and speculators
ordinary expenditure 9697 mln marks vs 9097 mln
the latest offer will lapse on 17 april
previously the company had paid a 7 1 2 cent per share quarterly dividend on one class of common stock
eagle pitcher industries inc epi 1st qtr net
the company said the omission is the thirteenth consecutive dividend omission
texas petroleum corp said it issued 144 mln shares of restricted common stock in exchange for oil and gas properties and joint ventures located in the us and overseas
it said similar inquiries are being conducted by the securities and exchange commission
termination of usdas transportation assistance program for wheat barley and sorghum would be proposed this week
the atpc officials said members that appeared likely to breach their quotas would be told to take remedial measures
the company said the tender has been extended until november 6
the highly visible drama involving the yens sharp rise against the us dollar is obscuring the fact that the japanese currency has hardly budged against major european currencies thus creating a new set of exchange rate distortions japanese and european research officials said
the ministrys forecast assumed average 1987 crude prices at 13 dlrs barrel bbl but prices have risen enough to permit further production cutbacks the sources said
xebec said it intends to continue streamlining its operations in light of the loss of business
he expects 25 pct first quarter growth but said that second quarter growth could be zero or negative
local mines cut combined daily tin concentrate sales to thaisarco a royal dutch shell group rdas unit to less than 20 tonnes earlier this month from a previous 40 to 45 tonne average commercial manager yoot eamsa ard told 
we take the current situation very seriously said the official who declined to be identified
it said the purchase price was 12 mln dlrs in cash and 15 mln dlrs in five year notes plus warrants to buy 70 pct of the stock of maxtec
m 1 measures notes and coins in circulation plus sight deposits
on a comparable store basis the sales rose 12 pct
in 1986 the exchange introduced live cattle and pig cash settlement contracts representing a move away from the problems of cash distortions and squeezes which initial deliverable buyers option contracts created he said
imported passenger car light commercial and heavy vehicle sales suffered while local manufacturing profitability was eroded by sales substantially below production capacity it said
pakistan reportedly bought white sugar at tender
fob exports rose 146 pct from a year earlier in the first 20 days of february to 1091 billion while cif imports fell 32 pct to 733 billion
payment is due april 22
payment is due april 15
by last september the yen had risen some 54 pct against the hong kong dollar from the end of 1985 the mark 43 pct and sterling 12 pct
shr 27 cts vs 24 cts net 5223000 vs 4682000 avg shrs 197 mln vs 194 mln note results reflected pooled acquisition of first community bancshares inc on march 31 1987 and include camden bancorp from january 31 1987 purchase
bank of japan already purchased one billion dlrs in morning intervention dealers
colt inc both kansas oil and gas exploration companies said he bought the stock for investment purposes
pesch sees shareholder support in ami ami bid
shr loss 139 dlrs vs profit 120 dlrs net loss 5306000 vs profit 7246000 six mths shr loss 18 cts profit 223 dlrs net profit 3259000 vs profit 142 mln assets 679 billion vs 542 billion deposits 399 billion vs 338 billion loans 492 billion vs 453 billion note 1987 six mths per share includes preferred stock dividend payments
earlier today newspapers in turkey carried an advertisement from turkish sugar factories inviting offers of 100000 tonnes of crystal sugar with a 50 pct option to increase or decrease the amount
both tenders are open from june 24
woburn five cents savings wobso 1st qtr net
shr 38 cts vs 25 cts net 708197 vs 404471 sales 6592736 vs 6122133 avg shrs 1886400 vs 1648477
japan has extended a 24 billion yen loan to bangladesh finance ministry officials said
hernandez grisanti said the loan will go part way to offsetting the loss of ecuadors 140000 in exports caused by earthquake damage to 25 miles of pipeline last week
both steps are aimed at establishing a wider domestic capital market as part of singapores plans to expand its financial sector finance minister richard hu said
oesterreichische draukraftwerke ag of klagenfurt is launching a 100 mln swiss franc 4 3 4 pct 10 year bond priced at 100 1 4 pct lead manager swiss bank corp said
planned daily output is 65000 barrels oil and 35 mln cubic feet gas
1986 nine mths includes a 43 mln dlrs or 24 cts a share after tax gain for reversion of surplus pension funds
proceeds from the offering will be used to build and equip enlarged broadcast and order processing facilities to redeem some of the companys 11 3 4 pct senior notes due oct 15 1996 and for general corporate purposes the company said
elder beerman stores corp said owners of about 70 pct of its stock have offered to take the company private by offerring 30 dlrs per share for the remaining 30 pct of its stock
it said the shares were held on behalf of investment clients and it said it had no intention of seeking control of the fund
in a newspaper advertisement usair said the offer and withdrawal rights have not been extended and will still expire april 3 along with the new proration period
skorea sees gnp growth more than 10 pct this year
hungary hopes devaluation will end trade deficit
under a 10 year agreement reached in 1978 jordan was to receive a total of 125 billion dlrs annually from algeria iraq kuwait libya qatar saudi arabia and the united arab emirates to help it resist israel
reform when it comes will be in response to specific pressure rather than an all embracing program said chew
nothing has changed landon said kansas city southern is continuing its efforts to acquire the transportation operation of santa fe railway
he said the complaint would be reviewed later this year after an assessment to see if japan lived up to the agreement
european community ec member states have generally given a cool initial reaction to proposals by the european commission for cereal price changes and related measures in the coming season ec diplomats said
icco puts 1986 87 world cocoa surplus 94000 tonnes vs 118000 in 1985 86 delegates
honan ethylene corps import requirements have risen to 8000 tonnes a month from 6000 tonnes last year to meet strong demand from honan petrochemical co which makes hdpe and ethylene glycol and hangyang chemical which produces low density polyethylene and vinyl chloride monomer they said
you can see a pattern developing maude said
world bank loans uganda 13 mln dlrs
towle manufacturing co in chapter 11 of the us bankruptcy code said any plan of reorganization would likely lead to a dilution or cancellation of its common and preferred stock
theres so much complexity so much inertia so much bureacracy that stricly speaking about the mechanisms it wont happen that fast said analyst victor krueger of the gartner group
life of indiana corp lifi 4th qtr loss
it processes in excess of 500000 tonnes of beet a year out of an annual beet crop of around eight mln tonnes
faber open for offers on morgan grenfell stake
the agreement last week with the paris club of western creditors rescheduling over 10 years 900 mln dlrs worth of official debt due by mid 1988 together with an accord late last year to reschedule 18 billion dlrs of commercial bank debt had already encouraged donors to increase aid he added
davis water dwws declares stock dividend
full details of the compromise package are not yet known
december illinois river ex chicago 122 1 2 pct bid 127 1 2 offered down 2 1 2 points on offer
italy has shown interest in british new crop wheat recently but the actual volume booked so far by italian buyers has not been large traders said
in its world production and trade report the department said hog numbers at the start of 1987 were estimated at 3316 mln head up slightly from 1986 and 10 mln head above earlier projections for 1987
pdvsa to sign champlin refinery deal march 17
but the situation bears careful watching over the next six weeks and will ultimately impact the soviet grain supply and future buying plans analysts of the soviet union said
for the first quarter of last year ended february 28 california biotech earned 114000 dlrs
delfzyl india 14700 mt bagged sugar about 30 dlrs 750 1000 ppt a c benham
the spun off stock will not be saleable for 13 months the company said
malaysia said it expects a natural rubber shortage in april and may because of the effects of current wintering on rubber trees
gatx corp gmt 3rd qtr net
taihei kogyo co ltd is launching 40 mln swiss francs of five year notes with a 4 3 4 pct coupon and 100 1 4 issue price lead manager swiss bank corp said
union carbide overseas finance corp nv a unit of union carbide corp said it plans to redeem on may one all outstanding 14 3 4 pct notes due may 1 1989
borg warner earned 2061 mln dlrs or 235 dlrs per share on revenues of 362 billion dlrs in 1986
fridays loan stock was the third this year already the sources noted
contract negotiations filing with the us government and the time required to restart mothballed terminals will delay the import until 1988 1989 daniel tulis a natural gas analyst with shearson lehman bros
he said the difficulty of syndicating mexicos 77 billion dlr loan package shows that new approaches must be encouraged
the federal reserve bought about 550 mln dlrs of us treasury bills for a customer a spokeswoman said
the company said its merger last year with associated dry goods which was accounted for as a pooling of interests is going very well may said we are acting more like one company every day
he added that the consortium which is arranging the deal had completed its preparatory work although the price had not been decided
the record and pay dates would be announced later it said
the government estimated florida orange production excluding temples at 1229 mln boxes versus 124 mln last month
the scale of foreign exchange intervention the bank of england has carried out recently is clear proof of britains determination to stabilise exchange rates as agreed between the group of seven industrialised countries in paris in february chancellor of the exchequer nigel lawson said
missouri based interco inc is establishing a 50 mln dlr five year revolving credit facility swiss bank corp international ltd said as arranger
but others see it climbing to 40
they said they were looking for an acquisition
banking center tbcx to make acquisition
the suit requests an injunction against proceeding with the pending offer being made by sunter acquisition to acquire allegheny
he said the steering committee wanted only to discuss some aspects of the request while argentinas negotiators were laying emphasis on a global pacakge
the securities and exchange commission said it charged a managing director of merrill lynch pierce fenner and smith ltd in london with masterminding a massive insider trading scheme nahum vaskevitch the managing director of the mergers and aquisitions department of the brokers london office was charged in a civil complaint by the sec filed in manhattan federal court
the mood of the congress right now is as tough on trade as ive ever seen it in six years in washington baldrige said in a weekend television interview
snc group inc expects 1987 earnings to rise to 120 140 dlrs a share from 91 cts a share last year with revenues climbing to about 430 mln dlrs from last years 350 mln dlrs president alex taylor said before the annual meeting
he also said he will soon talk with corn refiners on the subject
interest in the currency futures market has shifted to the soaring british pound and the potentially explosive canadian dollar and away from the dull continental and japanese currencies analysts said
rogers said the plan is not being adopted in response to any specific takeover attempt
ford motor credit co a unit of ford motor co is raising 200 mln dlrs via an offering of notes due 1997 yielding 813 pct said sole manager salomon brothers
but at this moment it is tough to say what will transpire
excludes loss from discontinued operations of three cts per share in fourth quarter 1985 and loss of 21 cts per share vs loss 272 dlrs in the year
keystone shareholders will receive 45 dlrs per keystone share payable in first of america convertible preferred stock having a dividend rate of nine pct
it is clear that opec through jawboning and quota restraint will boost the price of oil margoshes said
the three pct payment will be due july 15 1987
but there has been no independent confirmation of todays supertanker attack nor of other raids on shipping reported by baghdad in the past 24 hours
todays statement from the italian treasury said nobody denies the existence of g 5 but we should like it to be remembered that the tokyo accords provided for the enlargement of the group to italy and canada whenever the management or the improvement of the international monetary economic policy measures are to be discussed or dealt with italy refused to attend the paris g 7 meeting on the grounds that g 5 grouping the united states japan west germany france and britain had reduced italys role to rubber stamping agreements already taken
the buffer stock theoretically has funds to buy a maximum 100000 tonnes within a five week period but its approach will be more cautious buffer stock manager juergen plambeck said
there could be a probable delay madrid declined to give more details or production and export figures saying the information could lead to speculation
the 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
svz labour relations manager gerrard zeebregts said they would be meeting their lawyers today with a view to re applying for this permission next week in the hope of gaining approval for the redundancies within a month
analysts speculated a partial spinoff would make most sense contrary to one variation on market rumors of a total spinoff
el paso electric co said it has agreed to limit rate increases in its new mexico service territory to a maximum of nine pct over the next three years
oper shr profit one ct vs loss 114 dlrs oper net profit 435000 vs loss 199 mln year oper shr loss 28 cts vs loss 278 dlrs oper net loss 10 mln vs loss 465 mln note excludes investment gains of one ct per share vs 12 cts in the quarter and gains 10 cts per share vs 13 cts in the year
contrans corp cssto 4th qtr august 31 net
gunnar gold inc said it and mill city gold inc signed an option and joint venture agreement with tyranex gold inc on the tyranite gold property in ontario
they noted that most documentation accompanying these loans contains a clause allowing for a loan to be restructured if the tax treatment changes
the commodity credit corporation has accepted a bid for an export bonus to cover the sale of 760 head of dairy cattle to egypt the us agriculture department said
pharmacia ab launches eurocommercial paper programme
federal withheld income taxes were up in february from a month earlier but that was offset by declines in federal nonwithheld taxes and lower state and local income taxes
nynex corp will urge the us district court to approve justice department recommendations easing restrictions on offering new services by regional telephone firms chairman delbert staley said
over the weekend us treasury secretary james baker criticised recent rises in west german short term interest rates and said such developments were not in the spirit of the louvre pact
president ali khamenei prime minister mir hossein mousavi and now rafsanjani within 24 hours of the us action have all vowed retaliation
indias credit policy aims to control liquidity
ar sendi said on sunday that ugandas ministry of industry supports his plan to build a factory to roast grind and pack local coffee for export
the outlook for investment in plant and machinery remained bright into 1987 and with capacity use at near record levels last year there was scope for rationalisation and modernisation in both the industry and service sectors it said
paul hylbert president of sequoia has been named president and chief executive officer of the new company
if the notes are not redeemed at that time they will be non callable to maturity
the cacex director said he expected the countrys trade surplus to average 800 mln dlrs in the remaining three months of the year estimating the years overall surplus to reach 102 billion dlrs from 256 billion dlrs worth of exports and 154 billion dlrs of imports
the grain companies are trying to get this fired up again an aide to agriculture secretary richard lyng said
money market rates recovered up to 1 4 point from earlier lows while both sterling and gilts came off highs as trading ground to a near halt
qtly div 55 cts vs 55 cts prior payable may one record april three
the company said d
the current 55 pct prime rate has been in effect since february 28
hikmat nashashibi told a news conference at the end of an arab currency traders meeting we have to start with coordination of fiscal policies as a prerequisite for a common system of currencies there is quite a substantial way to go yet he said only then would a unified gulf currency system be a plausible project
indonesian sugar output forecast to rise in 1987
two mln silver coins face value five ecus will be sold at 500 francs each
the sale is subject to regulatory approvals
saudi arabia seeking rbd palm olein
mark iv said it owns about 670400 shares or about 99 pct of conracs outstanding shares
east europe wheat winterkill possible accu says
we plan to do more said mangan director of corporate financing
however the group said it will continue to try to block gencorps poison pill provision
market sources put the total value of ccfs privatisation at between four and five billion francs
intermetco ltd intto six mths april 30 net
proceeds will be used to reduce debt
sight deposits are an important measure of money market liquidity in switzerland
brazils new economic plan should enable brazil to renew negotiations with creditors on its 111 billion dlr foreign debt within the next 30 days finance minister luiz carlos bresser pereira said
however there were no reports that a formal crisis meeting of market makers such as that called in december last year during the perpetual frn market collapse was on the cards
austec international is based in melbourne australia
notes in circulation totalled 1628 billion dlrs up 45 mln dlrs from the week before
although the worldwide economic situation remains unsettled there are some encouraging signs in our business akers said pointing to among other things higher first quarter shipments
the bills many provisions also set as a priority for the us the negotiation of stable exchange rates and urge government intervention as necessary to offset fluctuations
yesterdays edition received here today said vietnam would invest one billion dong including the costs of relocation in 272 new economic zones
net international reserves now total about 800 mln dlrs compared to 154 billion dlrs a year ago
the dividend will be distributed on april 13 to holders of record march 30
in addition to its fees merrill lynch said it will also get up to 17 mln dlrs from borg warner to cover its expenses in the tender offer
interconnect prefers friendly gates glj offer
treasury secretary james baker said banks must do more lending to developing countries
the underlying trend which is a guide to bank of england operations to support the pound on foreign exchanges is net of borrowings and repayments
comb co said it has acquired the principal assets of national tech industries inc and telkom corp which are engaged in the sale and telemarketing of consumer electronic merchandise and do business as house of imports and nl industries respectively
killian said the nikkei contract has considerable potential for expansion as overseas investors have been avoiding the contract because they currently see no need to hedge the rising cash market in tokyo
metrobanc a federal savings bank said its shareholders approved the previously announced merger with comerica inc cmca a bank holding company
in april the pilots union offered to buy out united an allegis subsidiary through an employee stock ownership plan
cattle being placed on feed lighter than normal
noland co nold sets quarterly
along with new financing argentina reportedly wants lower interest rates on an existing total 53 billion dlrs in foreign debt and elimination of foreign banks control over how some of the money is loaned in argentina
it said in a statement actual retail sales fell to 187 billion nz dlrs in january against 242 billion a month earlier and compared with 178 billion in january 1986
shr profit nine cts vs loss two cts net profit 1419000 vs loss 314000 revs 8097000 vs 4794000 avg shrs 158 mln vs 155 mln year shr profit 37 cts vs loss 10 cts net profit 5695000 vs loss 1268000 revs 409 mln vs 4794000 avg shrs 156 mln vs 125 mln note company began operations nov 17 1985
30 1985 278 mln dlrs in 1984 267 mln in 1983 294 mln in 1982 and 280 mln in 1981
representatives of these farm groups have said they also fear efforts by midwestern democrats to force a floor vote on a bill that would require large acreage set asides in return for sharply higher support prices
the us agriculture departments latest estimates on 1986 87 florida orange production and orange juice yield are bearish for the frozen concentrated orange juice futures market because the yield increase was greater than expected fcoj traders and analysts said
comprehensive care corp cmph quarterly div
most paris dealers expressed disappointment at the communique saying nothing has changed to reverse the dollars downward trend
lsb industries inc lsb 4th qtr net
the debentures are convertible into the companys common stock at 7650 dlrs per share representing a premium of 2191 pct over the stock price when terms on the debt were set
paper says us trade deficit cut to 1365 billion
4th qtr shr nine cts vs four cts net 658159 vs 299930 revs 3770341 vs 2614224 avg shrs 7382802 vs 6747442 year oper shr 33 cts vs 18 cts oper net 2287179 vs 1045799 revs 131 mln vs 8577853 avg shrs 6874505 vs 5951612 note 1985 year net excludes 131000 dlr tax credit
ual has stood firm on its strategy
smith and other oil industry analyst and economists believe the trend in foreign investments will continue in 1987 because of the fall in value of the us dollar the perception that oil prices have hit bottom and the fact that it is cheaper to buy new reserves than to explore for them
during the final quarter last year imports rose 278 billion dlrs or three pct to 957 billion dlrs while exports rose 156 billion dlrs or three pct to 5733 billion dlrs
the us is pressing for greater access to the japanese super computer market
for this reason i have said that brazil will accept no monitoring by the imf in highly publicized talks with sarney near sao paulo last saturday several brazilian business leaders said they favoured a return to the imf arguing that it would make debt negotiations easier and bring new money into the country
shell canada raises crude prices by 64 canadian cts bbl today at edmonton
the selling concession is one pct while management and underwriting combined pays 1 2 pct
they said soviet cargo ships bound for kuwait in the past to unload arms and materiel for road delivery to iraq were known to have sailed under escort
loblaw cos to sell 75 mln dlrs of debentures
abnormally high levels of radiation were found in soviet tea and hazelnuts more than nine months after the chernobyl nuclear accident west german residents in moscow were advised this week
australias broad money supply rose 103 pct in the year ended january up from a revised 96 pct in december the reserve bank said
we have to build the import competing sector back he said
in the medium term non opec production would reach a plateau in the early 1990s leaving opec much stronger he said
dutch gross national product is expected to rise to 43220 billion guilders in 1987 in constant prices a two pct increase from last years 42395 billion
but the rebound was largely on short covering they said
economy minister youssri mustapha who leaves for moscow on tuesday met president hosni mubarak and egyptian ambassador to moscow salah bassiouni to discuss the issue
under the system importers will be required to present a bill from the foreign seller of goods and apply for a license for foreign exchange
i dont like that fact that we had a close below 101 said prudential bache analyst fred leiner
at a meeting of geplacea in brazil last october officials stressed the need to find alternative uses for sugar cane which according to the groups executive secretary eduardo latorre grows like a weed throughout the region
hechinger hecha bonds upgraded by s p
the company said montagus main asset is a 10 pct interest in the hog ranch joint venture which operates the open cut heap leach hog ranch gold mine in washoe county nev
expanding secondary operations would also improve the placement capacity of japanese houses intending to move into lead management of mark eurobonds
qtly div 10 cts vs 10 cts prior pay april 30 record april 21
the partnership said it acquired 346600 ipco shares paying 49 mln dlrs because it believed the securities to be an attractive investment opportunity it said it planned to regularly review its investment and may in the future recommend business strategies or an extraordinary corporate transaction such as a merger reorganization liquidation or asset sale
a turnaround in grain merchandising was a major factor in profit improvement for the nine months pillsbury said
quest said the agreement also offers alza the right to acquire up to 25 pct of the units equity in exchange for the acquisition of patent rights to alza technology in an area where quest has an interest
the nymex ordered apex to deliver four mln barrels of heating oil sold via a february 1982 heating oil contract
bank of japan governor satoshi sumita said he welcomed mondays us and west german joint confirmation of their commitment to the louvre accord
another added if the americans do not get what they want they will push the dollar down regardless of g 6 citibank ag also cast doubt on the chances of success for the paris agreement in its latest investment letter
the value of credits given cannot exceed either one fifth of the combined capital and reserves of the bank itself or two fifths of the value of the stake owned in the bank by the group or individual concerned
he expects the company to earn four dlrs a share in 1987 as compared to 334 dlrs a share last year
he said diversification into products other than ethanol was also possible within the sugar industry
the budget will inspire a lot of short term confidence but it was not a good budget for inflation he said jeffrey said he would have liked lawson to say more about the dangers of excessive liquidity build up but overall was not too concerned about a revival of inflation
investors pay for the bond on may 21
high voltage cables from the power plant of afobakka have been cut and a bauxite mine at moengo has been shut he added
spot next was put at 5 3 4 5 1 4 pct down from six 5 1 2 yesterday while one week rates were steady at six 5 1 2 pct
frances oilseed and bean cooperatives federation ffcop said it expected french rapeseed sowings for the 1987 harvest to rise by between 546 pct and 675 pct to between 600000 and 650000 hectares from 388000 planted last year
the exchange said it did not know when the yen bond futures contract would be approved the the cftc but that cftc provisions require that new contract submissions be acted upon within one year after submission
its a case of whether you can buy from the right people at the right time mcleod young weir ltd transportation analyst tony hine commented
the bills will be issued march 12
the company spokesman said the government has not responded to the proposals and there have been no formal meetings since january
nomura urged the government to take pump priming measures to help redress trade imbalances and boost employment
affiliated which owns the company that publishes the boston globe said the acquisition will give it a strong position in the growing market for specialty magazines
the company earned 302 mln dlrs or 166 dlrs per share before an extraordinary item in fiscal 1986
on september 20 the friday before plaza it was 242
instead the investor receives one of the westpac perpetual floaters
since last december the banks have been allowing the company to postpone loan repayments while they try to find an overseas commodity company to make an offer for the firm
the typical salaried employee has 733 mln yen in savings reflecting an annual average savings rate of 17 to 18 pct he said
venezuela sets foreign debt targets
he said no date has been set for the meeting and declined to comment on published reports in the past few months that banks may demand accelerated repayments
period ended september 26 shr 28 cts vs 14 cts net 3300000 vs 1300000 sales 247 mln vs 112 mln avg shrs 11871751 vs 9398952 nine mths shr 76 cts vs 35 cts net 9000000 vs 3200000 sales 693 mln vs 320 mln avg shrs 11833883 vs 9059692
he gave no financial details but said leisure sector investments would total about 100 mln francs over the next three years
capitol bancorp said it expects to restate its results for 1986 to a loss of about one mln dlrs due to a reclassification of loans recommended by auditor ernst and whinney
the discontinued units were not likely to meet the growth and profit goals of the company in the future entertainment publications said
nps technologies group npsgu 4th qtr
oates will be president and chief executive officer
management board joint spokesman alfred herrhausen said deutsches total debt exposure to problem countries had fallen to over six billion marks in 1986 from 74 billion in 1985 because of the fall in the dollar
the kenyan economy is heading for difficult times after a boom last year and the country must tighten its belt to prevent the balance of payments swinging too far into deficit president daniel arap moi said
while forecasting more adjustments if gulf prices fall burgess said no other changes in usdas price system are being planned right now
major home appliance shipments up in february
the company said proceeds of the financing will be used by its china lake joint venture for the purchase of equipment and construction of an 80 megawatt power plant at a company developed geothermal site at china lake calif
the statement said congress should not modify the 1985 farm bill so the law might have its intended impact of making agriculture more competitive in export markets while at the same time maintaining farm income we strongly believe american farmers now need predictability and certainty in farm legislation in order to have any opportunity of making proper production and marketing decisions the groups said
in addition some bankers would like the method of bond trading on the west german stock exchange changed to a system of continuous price setting from the current system in which every bond price is fixed once a day
guardman investment current manager and owner of all common shares of guardian morton also agreed to sell the common and its management agreement to a company controlled by sarlos if the takeover bid is successful guardian morton said
falcon cable fal sets initial distribution
group profit after net financial items 139 billion crowns vs 132 billion sales 1522 billion crowns vs 1261 billion profit per share 2050 crowns vs 1960 proposed dividend five crowns vs 440
the three locals represent about 2600 production and maintenance workers while the remaining two locals cover about 600 office and technical workers
plains resources inc said that as of december 31 its estimated proved oil and gas reserves rose by 27 pct to 543 mln barrels from 427 mln barrels and proved developed reserves rose 16 pct to four mln barrels from 345 mln barrels a year ago
the letter was signed by four managers at the dakota city plant
he also testified a committee of directors had hired goldman sachs and co to consider alternatives to the hutton offer and also to consider a discussion of possible mergers with other companies including emery and federal express corp fdx
us meat industry launches campaign in japan
philippines sees 1987 government revenue up 26 pct
but he added they are always pretty aggressive and they have good foreign marketing channels analysts said a key factor in brazilian trade will be coffee and even without background pressure from foreign creditors the worlds largest producer was expected to hit the market this year with a vengeance
the company also said it has agreed in principle to acquire privately held pat fashions industries inc for 18 mln dlrs in cash and notes with financing to come partly from bank borrowings subject to approval by the pope evans board and pat shareholders
the cumulative official capital surplus narrowed to 290 billion dlrs from 386 billion
an investor group led by robert bass of fort worth texas said it owns 786800 shares of bell and howell co common stock equal to 89 pct of the companys common stock outstanding
he also urged publicizing the comparative advantage of participation shares over ordinary shares for foreigners
commenting on the move bzw chairman sir martin jacombe said while international deregulation had turned london new york and tokyo into pivotal points for trading across time zones firms like bzw that seek to serve the world wide financial community must have a presence in europe not just in the uk bzw currently employs some 2000 staff in its offices in britain hong kong tokyo new york and sydney
nord est plans 400 mln franc bond issue
at the companys annual meeting wednesday possis said shareholders approved a proposal to increase the authorized common shares to 20 mln from eight mln
first federal savings and loan association of fort myers said its board has executed a letter of intent to acquire first presidential savings and loan association of sarasota fla for 8500000 dlrs in cash
brazil is not selling cocoa beans to the international cocoa organization icco buffer stock as spot prices for beans in the interior area are 20 to 25 pct higher than levels which would be paid by the icco buffer stock manager trade sources in the major producing state bahia said
officials of the french treasury and caisse centrale de cooperation economique aid agency will remain in madagascar until tuesday they added
the paper said unreasonable pricing resulted in 144 of the 442 sugar mills working in the 1985 86 crushing season losing money
the failure last night of international coffee organization ico producing and consuming countries to agree export quotas brought a sharp fall on international coffee futures markets today with the london may price reaching a 4 1 2 year low at one stage of 1270 stg per tonne before ending the day at 1314 stg down 184 stg from the previous close
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
noranda said when it resumes production it plans to operate the mine at about one third of the normal 72000 tonnes annual finished capacity
the agency said the project was expected to account for 44 pct of indias total production of zinc
toshiba regrets link with uk access issue
us retail sales fell 58 pct and the us merchandise trade gap widened to 148 billion dlrs
there were 26 shopping days in january this year the same as in january 1986 a statistics office statement said
stoltenberg said we remain on a course of expansion
the crucial piece of news in the budget was that the public sector borrowing requirement would be held to 40 billion stg
porsches net profit dropped sharply to 753 mln marks in 1985 86 from 1204 mln marks in 1984 85
a miti spokesman said his ministry had asked chipmakers to issue certificates to specified trading houses stating they are authorised exporters
the commodity credit corporation ccc interest rate on loans disbursed in april will carry a six pct ionterest rate the us agriculture department said
the banks for their part insist that they are more than willing to discuss mulfords menu and say it is the debtors that need to be more flexible
australia sells 180000 tonnes of sugar to ussr
the far eastern sugar market is being hit by a tightening in available nearby freight space needed to move raw sugar to various destinations notably from thailand traders said
afg industries inc afg 1st qtr net
jm resources inc in merger agreement
the company said it will expand its sanwet super absorbent polymers unit and its acrylic acid facility
he said barwon has approached the philippine government which seized the block of shares from the united coconut planters bank which is believed to be linked with the countrys deposed president ferdinand marcos
homestead financial corp said it has increased the dividend on its class a common shares to 6 1 4 cts a share from five cts prior while declaring an initial dividend on its class b common stock of 3 3 4 cts a share
year on year m 2a increased by a provisional 84 pct in january compared with a downwards revised and provisional 81 pct in december
the 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
deutsch suedamerikanische bank welcomed mexico joining the general agreement on tariffs and trade gatt in mid 1986 which it saw as an effort to integrate the country to a larger extent into the world economy
us commercial banks are expected to receive finance ministry approval in late april to operate securities subsidiaries in japan us bank officials said
many portfolio managers are working with relatively high cash positions in equity accounts often 25 to 30 pct given the belief that there may well be downward price corrections enroute to higher ground
the bill will be wrapped into other trade legislation and voted on in the house in april
he said brazil might adopt a different approach to its creditor banks involving separate discussions with the regions
lyng said the us put high priority on talks on 12 farm products named in us complaints against japan to the general agreement on tariffs and trade gatt last year as well as on beef citrus products and rice
swedish unemployment steady in march
china adds corn to commitments usda
it gave no 1986 area figures
tierco group inc tier year ended dec 31 loss
plum holding inc said it has started its previously announced offer to purchase 664400 common shares of holly sugar corp at 95 dlrs each
pulitzer publishing co pltzc declares qtly div
the us treasury said it will sell 128 billion dlrs of three and six month bills at its regular auction next week
moodys pointed out that while the seven year notes would be unsecured obligations of holiday inns the issue would benefit from a negative pledge provision and a call for specified collateral under certain circumstances
pricing will take place on march 26 with conversion set at a premium of 10 to 15 pct over the closing price on that day
bank of japan governor satoshi sumita said it is in japans national interest to make greater efforts to reduce its trade surplus
qtly dividend six cts vs six cts pay april 15 record march 31
the finance ministry has been particularly sensitive to such criticism because it is already under mounting domestic pressure to boost an economy hard hit by the yens rise
the kentucky public service commission in denying the increase asked the utility to meet with creditors which include manufacturers hanover corp mhc and irving bank corp v and the smelters to renegotiate a rate plan the utility spokesman said
ncr said the increase in first quarter profit resulted from strong revenue growth which was particularly strong in europe and pacific marketing groups
farah said it expects to turn a profit for the balance of 1987
he said brazil had caught the attention of the world with its decision last month to stop paying interest on its loans from commercial banks but warned it not to sqaunder the time it gained by failing to come up with a new economic program
security pacific corp said it completed its planned merger with diablo bank following the approval of the comptroller of the currency
japanese corporate earnings recovery predicted
in a filing with the securities and exchange commission the group said it sold 380000 ccx common shares on october 15 at four dlrs a share
dnc international issues 10 billion yen bond
oper shr loss five cts vs loss six cts oper net loss 157688 vs loss 96573 revs 1094331 vs 1378973 avg shrs 3315654 vs 1661023 six mths oper shr loss seven cts vs loss 24 cts oper net loss 198555 vs loss 394589 net 2243377 vs 2440850 avg shrs 2796848 vs 1637592 note current year 2nd qtr and six mths excludes a loss 10767 dlrs for discontinued operations
the banks economist henry azzam said in a review of gulf capital markets that investors have to relinquish traditional investment vehicles such as real estate foreign currency bank accounts and precious metals
republic savings and loan association and pioneer savings of racine wis said they have signed a definitive agreement to combine the two associations into a publicly held holding company to be called republic capital group inc
pansophic systems inc pns 3rd qtr jan 31 net
the dollar opened at a record tokyo low of 14375 yen despite aggressive bank of japan intervention dealers said
ual ual offering 55 mln shares of common stock
the us agriculture department is proposing to permit coverage of freight cost and marine and war risk insurance for sales of all agricultural commodities sold on credit terms under the commodity credit corporations ccc credit guarantee programs
wolverine said it expects favorable results in the second half as a result of its restructuring
mony said this acquisition coupled with its purchase of kelly associates in 1985 contributes to its goal of expanding its group business and improving its product lines
german public authority bundesbank holdings fall
macandrews said it increased its offer to purchase all revlon common shares to 2010 dlrs a share from its april 1 offer of 1850 dlrs a share
the federal reserve will promote lower interest rates this year to sustain world economic growth first boston corp managing director albert wojnilower said
the us expects more harmonious talks than usual during french prime minister jacques chiracs first official visit this week as frequently rancorous disputes between the two countries begin to fade
pay date is april 21
but he said the market is sensitively looking at what is happening in major nations
carlton communications plc has started the current financial year well with accounts for the first four months showing a healthy increase on the same period last year and chairman mp green told the annual meeting he looked forward to 1987 with optimism
asarco inc said it is increasing its base spot sales price for refined lead by one half cent to 2650 cents a lb fob delivered in carload lots effective immediately
no raw sugar is being unloaded at tate and lyles refinery at silvertown on the river thames following a fire yesterday afternoon tate and lyle plc said
williams said it held a total 850000 shares in norcros or 07 pct while an associate held a further 199 mln or 16 pct
growth in gdp over the past decade has averaged about 15 pct while the unemployment rate among blacks has spiralled to over 30 pct
scottish and york holdings ltd year loss
equity is distributed according to each members trading volume and as a result changes from year to year
ps group psg usair u move up deadline
us urges banks to develop new 3rd wld finance
since the paris agreement on february 22 the dollar had until yesterday traded in a 18150 18700 mark range and above 150 yen with traders reluctant to push the dollar down to test central banks resolve to defend currency stability
foreign exchange market rumours that the the bank of england has been selling sterling to halt its rise prompted a wary response from dealers who said they saw no obvious confirmation market sources said
the bank of spain has extended the reserve requirement for banks to their convertible peseta funds in an attempt to curb speculation in short term capital which is currently fuelling money supply growth
its the worst form of government there is apart from all the others one banker said paraphrasing former british prime minister winston churchills opinion about democracy
the municipality of metropolitan toronto is issuing a 75 mln canadian dlr eurobond due may 7 1997 paying 8 3 4 pct and priced at 101 1 8 pct lead manager wood gundy inc said
mthly div 2108 cts vs 2158 cts prior pay march 26 record march 16
dealers said the ministry has already asked institutional investors to reduce their sales of the dollar
the figures cover around 95 pct of rotterdam traffic in the products concerned
caisse centrale de credit cooperatif is launching a privately placed 12 billion franc bond issue in three tranches of 400 mln francs and with maturities of seven eight and ten years respectively lead managers credit lyonnais and banque francaise de credit cooperatif said
he conceeds that much more study of the idea is needed but argues that such an arrangement particularly if it were adopted by other major industrial countries could reduce the volatility of exchange rates
while he said he has no intention of seeking control of the company hammer said that because of his extensive business experience and his interest in exovir stock he may be invited to become a member of the companys board
nigerias official debts to the uk its major trading partner are estimated at 25 to three billion dlrs
trade minister saleh said on monday that indonesia as the worlds second largest producer of natural rubber should expand its rubber marketing effort and he hoped development of the exchange would help this
it said it has received about 11070000 shares under its 2250 dlrs per share offer which expired yesterday
seoul announced in january the lifting of bans on 158 items including sensitive agricultural products and large cars effective from july
the dollar was initially stabler but most dollar straight bonds were static in dull trade
morgan grenfell group plc 1986 year
this underscores its strategy of shifting away from low profit commodity chemicals in mature markets into higher value chemical businesses in high growth areas it said
other genencor shareholders include staley continental inc sta corning glass works glw and genentech inc gene the company said it has been granted options to increase its equity stake during 1987
the bills replace maturing paper worth 2485 billion lire of which 1985 billion was in the hands of market operators and the remainder with the bank of italy
mitek systems expects loss in current quarter
representatives of amoco were not immediately available for comment
the surplus is estimated at 350 billion yen due mainly to excess bank holdings of yen funds after heavy dollar purchases in the foreign exchange market yesterday money traders said
kuwaiti oil exports said not affected by gulf war
proceeds from the offering will be used to refinance existing debt it said
grain traders and analysts expect lower wheat and soybean exports and higher corn exports than a year ago in the usdas export inspection report today
bank of france buys dollars sells yen dealers
amca international ail 3rd qtr loss
becor western bcw gets offer to be acquired
the basic trend is towards stability a firs spokesman said
should citicorp actually place the brazilian loans in a non performing category at the end of this quarter this action would serve to alleviate the urgency associated with the debt negotiations he argues
by deterring industry use of the exchange for hedging and physical needs it would remove many of the unique advantages currently offered by the lme and make it indistinguishable from non trade orientated markets such as comex
weve taken specific steps to strengthen ourselves for this purpose he added referring to management changes and a corporate strategy of concentrating on four business sectors
gold reserves were unchanged from aprils 2848 mln crowns and also unchanged from the year ago figure
alaska housing finance corp a local us government agency has become the first municipal entity to tap the syndicated loan market receiving a 150 mln dlr seven year revolving loan said merrill lynch capital markets as arranger
realized investment gains for 1986 3rd qtr and nine mths were 186 mln dlrs and 336 mln dlrs respectively
us march jobless rate fell to 66 pct
pharmacia ab launches eurocommercial paper programme
the pound which was at 18 to the dollar in january 1986 has lost more than 30 pct of its international value over the past three months
the french franc was little changed at 30050 marks per 100 after 30055 yesterday
united companies uncf declares stock dividend
it said four directors other than cohen have resigned from the board
japans jobless seen rising to 33 pct in 1987 88
the sale is the first under gelcos divestiture program and proceeds will be used to help pay down 350 mln us dlrs of debt by year end the company said
egypt soviets to renegotiate arms debt terms
shr 81 cts vs 57 cts net 3660273 vs 2437914 revs 285 mln vs 231 mln six mths shr 29 cts vs 12 cts net 1325755 vs 483559 revs 317 mln vs 264 mln
the channel ferry herald of free enterprise from the british townsend thorensen company was sinking off the belgian coast tonight with 463 people on board the dutch newsagency anp reported today
first wisconsin national bank said it has raised its prime rate to 7 3 4 pct from 7 1 2 pct effective today
the company said it entered into a 90 day option effective march 9 to purchase a 207 acre lot with a vacant 143000 square foot building located in sapula okla
giorgios annual revnues are more than 100 mln dlrs avon said
oper shr 38 cts vs 32 cts qtly div 12 cts vs 12 cts oper net 5430000 vs 4707000 revs 1691 mln vs 1394 mln year oper shr 150 dlrs vs 132 dlrs oper net 215 mln vs 191 mln revs 6025 mln vs 5244 mln note 1986 operating net in both periods excludes loss 82 mln dlrs or 56 cts a share from discontinued operations
navistar nav still expects higher 1987 net
it coincided with another strong sterling rally which pushed the pound to four year highs against the dollar
however the decline in the market made it appear that they could no longer justify the overhead
us investors are not interested in china per se as many japanese are
atlantic financial said it signed a definitive agreement to acquire centurion savings and loan association atlantic did not disclose the purchase price
ecsc issues 100 mln stg eurobond due 1992
shr 115 dlrs vs 122 dlrs net 3301000 vs 3466000 revs 212 mln vs 208 mln nine mths shr 238 dlrs vs 258 dlrs net 6873000 vs 7397000 revs 516 mln vs 503 mln
national medical enterprises inc nme 3rd qtr
that is not a seasonal thing it is secular he said
the failure of the talks means brazil has got to rethink its position completely one santos exporter said
producer and consumer members of the ico council failed to agree export quota shares in early march
the central bank purchased bank bills outright comprising two mln stg in band one at 10 7 8 pct and 22 mln stg in band two at 10 13 16 pct
applied biosystems inc abioo 1st qtr sept 30
the issue carries a call option from 1993 at 102 pct declining thereafter by 1 2 percentage point per year
he said the 20 to 30 iranian personnel on the oil platform were given a 20 minute warning to abandon the platform
the six new foreign brokers are ef hutton and co inc shearson lehman brothers asia inc dresdner bank ag drsdf swiss bank corp international asia inc sogen security corp and swiss union philips and drew ltd the syndicate agreed after negotiation in april 1982 that 26 pct of 10 year government bonds should be underwritten by 93 securities firms 17 of them foreign and 74 pct by banks
but both these factors are no longer in our favour as a result we cannot expect an increase in foreign exchange reserves during the year he said
but a further dollar depreciation against major european currencies and the yen may not be the best way to restore the dollar to a fully competitive position as measured by its weighted external value he said
first federal savings fchto 1st qtr net
the smoothed deficit on invisibles fell to 226 mln from 237 mln revised from 250 mln in december and 234 mln in the year ago period
the debentures will be redeemed june one with 575 mln dlrs to be redeemed at 100 pct and the balance to be redeemed at 10233 pct
petroleos de venezuela sa said it will sign a contract march 17 to buy a half interest in a corpus christi texas refinery and related operations
the federal government reported today that the monthly surplus soared to 125 billion canadian dlrs in february double januarys 623 mln dlrs surplus and sharply higher than february 1986s 189 mln dlr tally
aristech ars says 1st qtr shr estimate right
shr 32 cts vs 25 cts net 159 mln vs 121 mln revs 2362 mln vs 2219 mln nine mths shr 88 cts vs 68 cts net 435 mln vs 328 mln revs 6939 mln vs 6292 mln
bankers in saudi arabia are negotiating a delicate balance between western business practice and oriental justice as they try to restructure the troubled corporate sectors debt
us senate leader calls for interest rate cuts
the other three institutes however wrote the decline in demand and production seen in the winter months does not indicate the beginning of a cyclical downswing they said the sharp rise of the mark had led to corporate uncertainty and companies had not carried out investment plans
usda estimates argentine coarse grain wheat
now it is time for brazil to do likewise archer said at the opening of a national software conference
two public holidays that week could also distort the market
the losses for 1987 are expected to be substantially less than in 1986 first city chairman ja elkins said in a letter included in the annual report
this would help overcome domestic shortages of yarn he said
the current debt service ratio of 41 pct will be the top wardhana said noting the debt service ratio rose to that level from 37 pct last year
notes in circulation rose 360 mln to 277 billion as the public withdrew cash to celebrate this weeks carnival festival or take an end of winter holiday break dealers said
the split common and 25 cts preferred shares will be distributed on july 2 1987 to shareholders of record june 24 1987
harris associates lp a chicago investment advisor said it raised its stake in centerre bancorporation to 508062 shares or 66 pct of the total outstanding from 427061 shares or 55 pct
mayfair super markets myfra sales increased
he expressed surprise at concern in some financial quarters over the level of private and public wage settlements last month worth a minimum three to four pct a year
yeutter concerned about us export picture
but even uk stocks have dropped around 6000 tonnes since the start of the year
prior years earnings per shr and average number of shrs outstanding have been restated to reflect a 3 for 2 split which became effective may 5 1987
merchants group inc mrch 4th qtr oper net
pacific telesis group chairman donald guinn told a meeting of security analysts that the company sees continued earnings growth in 1987 above the 108 billion dlrs or 502 dlrs per share earned in 1986
standard bank unable to make earnings forecast
on wednesday 55 pct of the borrowing was accounted for by the money center banks with 30 pct by the large regionals and 15 pct by the smallest banks
the angry response of japanese chip makers yesterday to the announcement of the us tariffs highlighted the difficulties the government faces in taking further action
last december a 120 pct increase in the consumer price for refined maize meal a zambian staple led to food riots in which at least 15 people died
the company said it will be continuing its talks with siemens and based on current circumstances believes the transaction could close next week
brazil suggests 60 day short term credit extension
transport development group plc tdgll 1986 year
the company said the debt converted represents about 40 pct of the total 60 mln swiss franc convertible debentures it completed last fall
essex chemical esx sells convertible debt
general motors acceptance corp a unit of general motors corp is raising 500 mln dlrs via offerings of 300 mln dlrs of notes due 1990 and 200 mln dlrs of notes due 1994 said lead manager merrill lynch captial markets
bat said in 1986 it had sold 88 batus stores in the us for 644 mln dlrs and sold grovewood securities for 142 mln stg
the uk longer leading cyclical indicator rose in february by 58 pct after januarys 19 pct rise figures from the central statistical office show
the uk high court dismissed an appeal by rio tinto zinc corp plcs rtzll rtz oil and gas ltd unit and ruled that the financial provisions a company makes for the future cost of abandoning an oil field are not tax deductible the press association reported
china allows nationwide foreign exchange saving
argosystems makes equipment to monitor and analyze military communications signals electronic warfare equipment to monitor and jam radar signals and signal processing systems
canada and the united states agreed last december to the 15 pct charge ending a lengthy trade dispute over alleged canadian subsidies to canadas softwood exporters
belgium cuts treasury certificate rates
payless cashways inc chairman david stanley told analysts the companys first quarter results to be reported march 17 will be better than the seven cts per share reported in the year ago quarter
their sales helped send wall street stocks down 508 points to 1738 the markets biggest percentage drop since 1914
david mulford assistant secretary of the us treasury told the euromoney conference that ideas such as pins should be part of a menu of options available to banks instead of pure new money packages
the company said the acquisition will result in a tripling of its ecuadorian shrimp sales to about three mln pounds annually by 1988
acceleration said it plans to include gains from the stock sales in its results for the first and second quarters of 1987
new specific provisions rose by 1115 mln stg while 712 mln stg were reallocated from the general risk provision
the facility will provide the group with working capital to meet its planned expansion in the uk over the next three years
cargill uk strike talks adjourn to tuesday
ibm australia credit ltd is issuing a 75 mln australian dlr eurobond due april 24 1990 with a 14 1 8 pct coupon and priced at 101 1 4 salomon brothers international ltd said as lead manager
mohammed said delegates will have a much clearer indication of prospects for an accord after details of the rules are elaborated by erbynn and after producers and consumers meet separately later today to examine the scheme
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
amoco corp an has test marketed the new mid grade gasoline and hopes to sell it on a regular basis in the south east and midwest by the beginning of june according to paul collier executive vice president of marketing
the other main bidders were union carbide corps uk
s and p pointed out that the outlook for future revenue growth is constrained by general weakness in the provinces commodity based economy because of low prices
lead manager was county natwest capital markets
twa twa sells position in usair u 
herrington speaking to houston oil executives at a breakfast meeting said administration debate over his plan for a 275 pct annual depletion allowance was heavy and strong largely because of some fears that the us oil industry could eventually become as dependent on federal subsidies as the agriculture industry
qtrly div 38 cts vs 33 cts pay june 1 record may 7 note company said this is the largest dividend increase in 15 years
ecuadors international reserves at the end of may were around 1209 mln dlrs compared with 1186 mln at the end of april and 1413 mln at the end of may 1986 the central bank said
terms of the transaction were not disclosed
dart said the preferred stock in the new bid would be exchangeable for a new class of supermarkets general debt securities that would be developed by dart and supermarkets
earlier today the company announced that hong kong telephone and cable and wireless hong kong in which the territorys government has a 20 pct stake would become subsidiaries of a newly formed holding company hong kong telecommunications
he said the economy would have suffered more from the world economic recession if the government had not devalued the rupiah by 31 pct last september
franklin michigan insured sets payout
dutch sugar beet planting half finished
the new maturity date is april 30 1988 it said
he said the bank has kept bond equity portfolio mix fairly stable recently and probably will make no major changes for months as it awaits economic oil price and dollar trends
the 1986 net loss included a 5457 mln dlr asset writedown before a 1392 mln dlr recovery of deferred taxes
it said in most of europe and in japan raw materials and oil will cost less in domestic currency in 1987 than in 1986
nimit nonthapanthawat chief economist at the bangkok bank ltd said thailands strong export performance its relatively high interest rates foreign participation in its stock market and growing foreign investment especially from japan contributed to the projected sharp rise
payment of health benefits for active and retired employees would be made at substantially reduced levels allis chalmers once one of the leading farm equipment companies sold all of its farm equipment operations to deutz of west germany for 107 mln dlrs leaving the company with businesses in lift trucks air conditioning fluids handling and solid materials processing
we will not negotiate new quotas or accept new quotas on beef and citrus if they impose them we would consider that an illegal action in the gatt lyng said
the embassy report says coffee stocks will rise to 13 mln tonnes in 1987 88 from 115 mln in 1986 87
the departments estimates are based on april 1 crop conditions
participation certificates acquired with b warrants will be priced at 597 francs equalling the price of the first tranche plus a 10 pct premium
gte posts pre tax loss of 121 mln dlrs in 1st qtr for 50 pct share of us sprint
new south wales treasury corp is issuing 15 billion yen of eurobonds due april 15 1992 priced at 101 5 8 with a 4 7 8 pct coupon nikko securities co europe ltd said as book runner and joint lead manager with mitsui trust and banking co ltd
us feedgrains group attacks canada corn ruling
yesterday uss said it plans to raise base prices on plate products by 20 dlrs a ton or about five pct effective with shipments october 4
areas of the southern grain belt were hit by high winds and hail tuesday with some damage reported
private sector capital operations showed a steeply higher deficit of 1607 billion francs after 569 billion in 1985
the economy is moving between extremes he said
lawson said the paris accord presumed that individual countries would take corrective action if their currency began reacting significantly to domestic macroeconomic factors
the line will initially charter vessels to operate services between mombasa and the main ports of industrial europe but may eventually build or buy its own ships
spartech sptn reverse stock split approved
first granite shareholders will be asked to approve the tranaction in late summer
ironically it was growmark at that time a regional farm cooperative with major river terminal elevators that founded illinois cooperative futures on december 1 1960
qtly div 21 cts vs 16 1 4 cts prior pay april one record march 17
the dollar opened at 14533 yen against 14560 70 in new york and 14525 at the close here yesterday
the introduction of the new session will enable participants to trade overnight after taking account of singapore rubber prices because brokers and members who are designated by the kobe exchange are allowed to add the volume traded overnight to the new final session before the opening session starts next day the official said
a statement will be made afterwards
on march 26 the company announced the resignations of bernard weinblatt as president and a director and hecht as chief executive officer
brymon plans to offer five flights a day from the london city airport to paris and three to amsterdam and brussels
texas petroleum acquires oil and gas properties
he said some paris club members had agreed to disregard penalty interest payments and negotiations were continuing with argentina and brazil who hold 700 mln dlrs of bolivian debt
henkel sells hamburg oil and fats subsidiary
jones and vining inc said it has started a tender offer for all of its own shares at five dlrs per share
the bank said at that stage that it was not opposed in principle to when issued trading developing in bonds in the period between the announcement of full details of the auction and the auction itself as in the us however when issued trading is prohibited under the rules of the international stock exchange formerly the london stock exchange and would require an amendment in order to proceed
petro canada expects to spend about 500 mln canadian dlrs to bring the field to production by about 1991 and the development budget could double if the company builds a production system combining both blocks in the field he said
there seems to be no desire to change the farm law were working under today and this report should reinforce that frazier said
there are valid reasons for the bank to be cautious said peter fellner uk economist at brokers james capel and co
csrs bid for the 6826 pct of pioneers 9980 mln issued shares it does not already hold values the entire grop_j9culd make an alternative share offer but has not yet announced terms
errors and omissions were 265 billion dlrs in surplus compared with a 127 billion surplus a year earlier and a 110 billion deficit in january
the bank of zambia said it received 370 bids ranging from 1300 to 2075 kwacha for the six mln dlrs on offer
turkey alleged that the consortiums plans would have infringed the 1976 berne agreement between the two countries which called for a moratorium on any activities until the delimitation was agreed
proceeds will be used for general corporate purposes maryland national said
banmiller will continue as aircals president and chief operating officer
the two issues are separate and independent
other prime rates now range from 16 pct to 175 pct
ual will pay 6325 mln dlrs cash 2564000 shares of ual common stock and 200 mln dlrs worth of ual debentures to transworld but it may substitute cash for the securities
newmont gold sees its sales rising 22 pct
banking center tbcx 1st qtr net
western environmental was acquired in march 1986
alusuisse shares fall after capital cut news
unocal ucl sells seven and 10 year notes
rowntree convertible increased terms set
the lower prices probably led to an increase in usage of 40 to 50 mln bushels it said
moodys investors service inc said it downgraded texas air corps 410 mln dlrs of debt and affirmed the unit eastern air lines incs 7034 mln dlrs of debt
the state owned krung thai bank ltd will start taking over state owned sayam bank ltd and complete the process in a year finance minister suthee singhasaneh told a press conference
united medical corp said it it has requested a meeting of holders of its swiss francs 30 mln 5 1 8 pct convertible subordinated notes due 1991
ceasars world caw studying sosnoff offer
step saver coda says warrant exercised
shr loss 20 cts vs loss three cts net loss 346000 dlrs vs loss 26000 dlrs revs 7671000 dlrs vs 4775000 dlrs 12 mths shr profit one dlr vs profit 219 dlrs net profit 2927000 dlrs vs profit 5613000 dlrs revs 409 mln vs 358 mln
they said exchange contracts which the government no longer recognizes were signed with the central bank for this refinancing at 43 per dollar
sosnoff said he rejected all of the proposals
the current harvests volume was again expected to be between 23 and 26 mln tonnes or 341 to 415 pct lower than last harvests record 41 mln tonnes
but few such specialists are going to sit back and wait until the action begins
renault president raymond levy said in a statement issued by the french state car group the agreement was an important stage in renaults redeployment
ivory coast rainfall this season has been less than in previous years but 1986 87 cocoa and coffee production has not suffered the official ivorian daily fraternite matin reported
jannock ltd said its jannock imaging co ltd unit acquired a 50 pct stake in arthurs jones lithographing ltd of toronto for undisclosed terms
it said its suit names as defendants hughes and certain of its directors and seeks either an injunction forcing hughes to live up to the merger agreement or substantial monetary damages it did not name
comp u card international inc cucdo 1st qtr
the dispute has prevented local crewmen signing on and off but has not affected foreign ships with international crews docking at calcutta which exports tea and jute and imports machinery crude oil and petroleum products the spokesman said
to assist in loan activities the bank said it borrowed 191 billion dlrs in the capital markets in 1986 bringing its total outstanding borrowings to 1211 billion dlrs
commonwealth aluminum comalco said it put its goldendale wash smelter back on the market after would be buyer columbia aluminum corp of hermiston ore failed to pull together financing by an april one deadline
argosystems is a clear leader in its field
it appears that the chernobyl disaster had a worse effect on its the soviet grain harvest than reported one said
the index for intermediate goods rose 05 pct following a sharp 09 pct rise in january
the financial rand was reintroduced in september 1985 to help end capital flight from south africa during a period of severe political unrest in the country
although yen bonds now rank second only to dollar issues in the eurobond market few foreigners are interested in keeping the yen they borrow and no one wants the yen bonds but the japanese they said
the wholesale price index rose 11 pct month on month in january 1987 after increasing by 03 pct in december 1986 the national statistics institute istat said
hunter helicopter is in the business of building a two passenger helicopter retailing for about 50000 dlrs each which is certified by the federal aviation administration
company corrects pay date april 25 not april 28 in story that ran yesterday
1986 net both periods includes charge 865000 dlrs from repal of investment tax credits
he estimated that economic growth for the year as a whole would probably be between one and two pct
the hughes board made a counter proposal that the two companies first find acceptable buyers for the businesses before signing the decree
japan has rejected the overture saying tokyo maintains a policy of self sufficiency in rice
despite businessmens ingenuity in finding ways around any artificial controls regulation of supply and demand should bring positive results watanabe said
conable said the world bank which granted indonesia a 300 mln dlr loan last month to help its balance of payments was prepared to back jakarta in taking the right steps to adjust to lower oil and primary commodity prices
soybean cake meal thousand short tons stocks sept 30 1987 at 270 vs 315 last month
we have to keep wages as low as possible he said
the government has also sent marines into the main ports
ec external trade commissioner willy de clercq has written to his us counterpart trade representative clayton yeutter outlining the ecs concerns
poehl says currency market intervention cannot substitute for correct economic policies if exchange rates are imbalanced
the dollar closed in tokyo today at 14940 against new yorks 14930 40
australian gas light co counter bids for tmoc
an international monetary fund imf team is due here over the same period a world bank offical said
the central bank bank negara said yields on the 91 day malaysian treasury bills rate rose slightly to 2032 pct at this weeks tender from 2020 pct last week
haslam said the budget announcement on prt relief by which companies will be allowed to offset up to 10 pct of qualifying development expenditure on certain future oil fields against prt was helpful but rather less than had been hoped for
tonen sekiyu and exxon unit studying resin project
the kharg terminal attacked about 135 times since august 1985 was last raided in january
shr 29 cts vs 23 cts net 1262000 vs 1002000 sales 499 mln vs 403 mln year shr 118 dlrs vs one dlr net 5205000 vs 4339000 sales 1801 mln vs 1507 mln note prior year net both periods includes gain 900000 dlrs from adjustments to lifo reserves compensation related accruals and a revised effective tax rate
they know that controlling inflation will make industry more competitive and bring down unemployment in the long run he added
with the inras ability to keep prices at a certain stable level consumers are assured of rubber at almost a fixed price while producers may never see sharp price rises a malaysian rubber producers council source told 
but it has asked congress to give it authority to finance its one third share in the event agreement on voting power is reached
the us justice department has announced that it will require divestiture of the product line for approval of the merger
there were seven grain ships loading and six ships were waiting to load at portland according to the portland merchants exchange
tierco group inc said it sold at par to the kuwait real estate investment and management co its 10 mln dlrs 75
us house approves pilot 0 92 disaster program
i doubt that there would be any subsidy offer this summer or before the next agreement year begins a usda source said
however if it is determined that certificates have caused the government grain stockpile to decrease the cost effect of certificates would be less
shr loss six cts vs loss 76 cts net loss 343748 vs loss 40 mln revs 51 mln vs 48 mln year shr profit 12 cts vs loss 145 dlr net profit 611784 vs loss 77 mln revs 216 mln vs 197 mln
however there has been considerable resistance to the package partly because of some of the clauses it contains and partly because many small us regional banks do not want to increase their exposure to any latin american countries
systems for health care in one for 50 split
systems for health care inc year loss
this would have the effect of lowering the world price maintaining domestic support levels and reducing the governments soybean inventory
allied lyons plc alldl and canadas reichmann brothers are working well together as partners and currently do not plan any change in their joint ownership of distiller hiram walker gooderham and worts allied lyons chairman derrick holden brown said
guinness said in a statement that the companys strength was in its well known beer and spirits brands
1987 results include all operations of all acquired sealy brand licensees and 82 pct of sealy
this estimate is 198 to 202 pct lower than the 124 to 126 mln tonnes at which private sources put 1985 86 production and 211 to 227 pct lower than the official 128 mln tonnes
key unit
the company also said europharmaceutical is in talks to acquire either one or more publicly held companies with little or no assets
allocations will be made first for non competitive bids from primary dealers prepared to accept average yields on up to 500000 dlrs worth of notes and bonds and an unlimited volume of treasury bills
the coincident index also rose an annualised three pct in december against zero movement in november and a seven pct rise a year earlier westpac and the institute said
prescott ball and turben co managed the deal
citicorp said yesterday that its proposal would allow dixons to raise its tender price to 9325 dlrs per share
the documents said peso proceeds can be invested in selected industries under the philippines debt equity program
subroto said speeding up necessary approvals for field operations was a government priority
in paris britain canada france japan the us and west germany agreed to coooperate to hold currency rates around their then current levels
that matches the spread over treasuries for the finance units equal sized same maturity offering on january 6 that was priced to yield 7948 pct
willis faber bids for stewart wrightson
eastman kodak co to sell holdings in icn pharmaceuticals and viratek inc
i think the predominant feeling is of being scared this conflict will escalate a top west german foreign ministry official helmut schaefer told reporters in bahrain after a tour of three gulf states
under an agreement between the two companies revlon must have the permission of gillettes board before making an offer to shareholders
traders said it is conceivable that a trial date could be set or some progress made on an out of court settlement
the major deficiency in the governments anti inflation policies was reliance on high interest and exchange rates and insufficient emphasis on reducing the budget deficit bayliss said
the bank of new york corp bk said it reaffirmed the terms of its offer for irving bank corp despite the drop in the bank of new yorks share price to 30 1 8 a bank of new york spokesman said
late in the day the deal was trading just inside its fees at less 175 less 155
salomon brothers co managed the deal
waxman industries waxm to sell convertibles
gillette canada issues 70 mln stg bond
a deficit of some 800 mln to one billion dlrs was expected by one house active in the sector
talks were also expected to take place with the algerians he added
hei corp heico 4th qtr march 31 loss
they estimated registrations today at between 10 mln and 12 mln 60 kilo bags
brazil would not tolerate a change in ico regulations which others wanted changed one senior coffee dealer said
the malaise was felt through the banking sector with a two point fall registered by one bnp note to give a three point drop over two trading days
officials said plans to buy 240000 tonnes of basra light from iraq have not been finalised yet because of several constraints
we think there are signals that current conditions are more favorable than they have been for sometime simon said
interest of 775 pct is to be paid in annual instalments starting in 1988 ministry spokesman luis vilhena de cunha said
qtly div 22 cts vs 20 cts prior payable march 27 record march 18
for flexibility the bank would post yields daily to dealers on an absolute rate basis providing a range of short term maturities
national distillers and chemical corp said it completed the sale of almaden vineyards inc to heublein inc for about 128 mln dlrs
talman home federal tlmno 3rd qtr oper net
oper shr 164 dlrs vs 150 dlrs oper net 6200000 vs 5600000 revs not given 12 mths oper shr 276 dlrs vs 258 dlrs oper net 104 mln vs 9600000 note net income including discontinued operation and in both 1986 periods 1500000 dlr gain from change in accounting for which results restated 6200000 dlrs vs 7200000 dlrs in quarter and 106 mln dlrs vs 116 mln dlrs
michael rourke a and p vice president said the company withdrew the offer because delchamps did not respond favorably to it and because of market conditions
on january 23 jones and vining said its board had recommended that shareholders aprove a management buyout at 450 dlrs a share
paradyne pdn pleads guilty to criminal charge
brazilian garage owners want to be allowed to raise their profits on alcohol fuel and petrol sales to 126 cruzados six us cents a litre from 056 cruzados about 25 cents queues formed at petrol stations in sao paulo late last night as motorists filled up their tanks while they still could
the traders said another factor leading to lower crop predictions is that many farmers are not caring properly for plantations because of low returns on their investment
we dont know but we think it more likely to work than any of the alternatives suggested conable who is here to meet government and business leaders expressed confidence that japan will make increasing use of its huge trade surplus to help developing countries
until the world bank was confident that this was not the case it would not adopt new instruments
escalante attributed the nosedive in international coffee prices over the last week to speculation rather than real matters of supply and demand
we believe the euroyen bond should remain mainly in the euroyen market he said
the buffer stock working group is to meet again on rules monday morning and the full council is to reconvene tuesday delegates said
this week many of the same experts gather in the same building here to try to agree on how the cocoa pact reached last summer should work
swiss feb trade deficit 6297 mln francs jan deficit 2094 mln official
anova ventures sets dividend in duevel shares
horner said that new boundaries for the trading range of the yen are likely to come out of the g 5 and g 7 meetings
saudi arabia allowed its output to sink as low as two mln bpd in august 1985 to compensate for slack demand and over production by some opec states
horn and hardart co said it disposed of 33 bojangles chicken n biscuits restaurants in florida as part of its previously announced retrenchment of its bojangles subsidiary
earlier schlesinger told a press conference that the bundesbank would continue its policy of maintaining short term interest rates at a low level for currency stability
healthsouth rehabilitation corp said it has acquired pine island sports medicine center in fort lauderdale fla and will incorporate the facility into its healthsouth rehabilitation center of fort lauderdale which is now under construction and should be in operation by mid summer
phillips p says stock up on steps to pare debt
lucas industries plc lucsl said its underlying performance would continue to improve in the second half but profits would be restrained by low activity in uk commercial vehicle and tractor markets as well as in north american electronics
overland express over negotiates new debt
cacex the foreign trade department of the federally owned banco do brasil has told companies they must limit their imports to 90 pct of what they imported in 1985
the ipswich factory will remain closed until roads are cleared and supplies of beet build up again
the spokesman said het comite finally selected the company for the test case from among the 80 lodged because the bill the firm received from the commodity board for payment of the levy contained significant currency distortions and involved grain from a wide variety of origins the name of the company is not being made public
the us japan trade dispute intensified last week when president ronald reagan said the us would impose heavy tariffs on japanese imports in retaliation against alleged japanese breach of the computer chip trade pact
lawson said the two recent cuts in base rates both made this month in the form of half percentage point declines were perfectly consistent with monetary conditions now in britain
shr nil vs loss 14 cts net 1697000 vs loss 419 mln revs 12 billion vs 11 billion avg shrs 2764 mln vs 2856 mln nine mths shr profit 13 cts vs profit 56 cts net profit 368 mln vs 1615 mln revs 34 billoin vs 38 billion avg shrs 2782 mln vs 2889 mln note 1987 3rd qtr includes 1526 mln dlrs for continuing operations which includes a 69 mln dlrs after tax gain on sale of companys investment in compagnie luxembourgeoise de telediffusion
they will be lifted as the facts of change by japan to the agreement that it made become evident he said us officials had only been able to monitor the situation for a month and that it was impossible to determine a trend on only one months data
nymex rule change seen boosting energy trade
he declined to give a reason
mthly div 77 cts vs 77 cts prior pay march 13 record march two
the number one deposits reserves are contained between a vertical depth of 750 and 1200 feet at a strike length of 900 feet
the surplus enabled the country to reduce its foreign debt last year for the first time
the white house said it would study the proposal but was generally oppposed to altering the national tax code just passed last year
brazil last month suspended interest payments on its 68 billion dlr debt to commercial banks and yesterday suggested an extension of short term credit lines for 60 days until may 31
it has an average life of 1349 years and matures 2018
conclusion of the agreement is subject to completion of further detailed examination by degussa as well as board and regulatory approvals
the bank of england and the us federal reserve board have agreed new proposals for joint standards to measure the risk of an array of credit exposures that do not show up in bank balance sheets the bank of england said
shr 38 cts vs 30 cts net 3649000 vs 2789000 sales 1374 mln vs 1192 mln
gross fixed capital expenditure fell 01 pct in the quarter while exports of goods and services rose 130 pct and imports 29 pct
petrobras said the saudis had been advised that if they did not change their mind by monday petrobras would negotiate the purchase of oil with other producers
opec has done pretty extraordinarily well everything is moving in its direction he added
tanjug said the programme would create conditions for raising exports of finished steel products
this move may force interest rates up by creating a revenue vacuum which must be filled by higher government borrowing
vulcan said it is dropping the proposal because it believes subsequent actions by jones and vining are hostile and vulcan is only interested in a friendly transaction
dutch green coffee imports fall in january
the investment banker said its variable money market certificates of deposit are structured as traditional floating rate cds with the rate based on the aa commercial paper composite rate of the federal reserve bank of new york
petersburg san diego and austin on april one
mellon participating mortgage trust mpmts div
shawmut corp shas 1st qtr net
however senior vice president of finance daniel miglio told a meeting of analysts that there was some uncertainty in its earnings outlook because snet is currently involved in negotiations with state regulators on its rate of return on equity which currently stands at 162 pct
prior year net includes gain 4454031 dlrs from sale of minority interests in connecticut partnerships
s and p upgraded the units wycon chemical corp and anr finance nv bv wycon chemicals industrial revenue bonds guaranteed by the parent were raised to bb minus from b plus
crossland said western with assets of 400 mln dlrs operated 13 branch offices in the states of california oregon utah and washington
occidental unit oxy lifts lockout
the bond carries a 2 1 4 pct coupon and is priced at par
oper shr 52 cts vs 51 cts oper net 626013 vs 613127 sales 4544929 vs 4402572 note earnings exclude extraordinary securities loss of 29532 dlrs or two cts a share vs a gain of 81358 dlrs or seven cts a share
the second contingency facility for 12 billion dlrs is designed to support investment in the public and private sectors
the securities will be listed in luxembourg and are available in denominations of 1000 and 10000 dlrs
global economic slowdown raises new debt fears
but he said the size of the cuts under consideration were not enough to give the federal reserve board the flexibility it needs to steer the economy or to keep the value of the dollar from plunging further in world exchange markets
italian state bank istituto bancario san paolo di torino said its fully owned san paolo us holding co of wilmington in the us had signed a letter of intent to acquire valley national bank of california
the offer closes next friday
the company had previously announced plans to again adjourn the meeting following receipt of a renewed offer from lynch corp lgl yesterday
a new grade of unleaded gasoline now being test marketed will increase refining costs when refiners can least afford it according to officials attending the national petroleum refiners association conference here
ec farm ministers who would have to approve such a tax are split on the issue and are expected to decide it at a marathon meeting on ec farm prices beginning in luxembourg on june 15
commerzbank ag is the other joint lead
idd information service said the 30 day corporate visible supply rose to 328 billion dlrs last week from 179 billion dlrs in the previous week
in order to concentrate on the companys core business the operation of discount and promotional department stores mars said it has decided to close the big value division
oper shr loss 20 cts vs loss 81 cts oper net loss 1042000 vs loss 4077000 revs 385 mln vs 503 mln 12 mths oper shr loss six cts vs loss 43 cts oper net loss 336000 vs loss 2176000 revs 1378 mln vs 2091 mln note qtrs 1986 and prior exclude net realized investment gains of 74000 dlrs and 644000 dlrs respectively and years 1986 and prior exclude realized investment gains of 642000 dlrs and 1979000 dlrs respectively
he said banks had insisted on a formal declaration that fecsa was suspending principal repayments before discussing a renegotiation of its debts
alusuisse sees possible break even in 1987
rain boosts central queensland sugar cane crop
daiwa headed a syndicate that won the rockwell notes in competitive bidding
guinn also said that capital spending stood at about 18 billion dlrs in 1986 and the company expected the figure to remain flat each year through 1989
okb issues 100 mln canadian dlr bond
commercial metals co cmc sets qtly dividend
non interest expenses rose to 3711 mln dlrs from 3035 mln dlrs with more than half the increase related to personnel costs morgan said
moreover it could help stabilize of the prices of commodities themselves slowing changes in inflation
the semi official anatolian agency said naval vessels ended their close protection of the ship as it continued work in turkish waters but were following it at a distance
there was a fall of 290 mln stg in notes and coin in january a fall of 15 billion stg in non interest bearing sight deposits and a rise of 16 billion stg in interest bearing sight deposits the bank said
they told the housing program loan request is for 100 mln to 150 mln dlrs
if brazil does not resume payments 1987 net would be cut by 72 mln dlrs morgan added
the fed has confidence in the aggregates when theyre all sending the same signal
the second priority is to maintain an acceptable level of foreign exchange reserves to provide the stability and confidence needed by the government to meet foreign commitments rifai said jordans outstanding government guaranteed and commercial loans total 902 mln dinars with a debt service ratio of 149 pct
analysts said that in the light of the reaction to the budget in the gilts and uk money markets uk commercial bank base rates are likely to be cut by as much as a full point tomorrow
the issue is guaranteed by internazionale fiat holding sa and is accompanied by a 200000 currency warrant package
minstar chairman irwin l
a company spokesman said gpu expects to continue declaring dividends on a quarterly basis with the rate depending on the progress of the cleanup and on other company operations
japan has come under growing criticism from both the united states and european countries for its only modest efforts to open its markets to outside competition and to reduce its exports
the fed is going to look at this positively said allan leslie of discount corporation
union carbide uk files 500 mln dlr debt offer
stansbury mining corp said it has arranged the financing it needs to bring its vermiculite mine into operation later this year
sole manager lf rothschild unterberg towbin initially gave the debentures a 12 1 4 pct coupon and par pricing
it said the quarterly cash dividend of 105 cts per share on the split shares a 105 pct increase from the 19 cts per share before the split
us navy said increasing presence near gulf
he said that the odds were also in favour of adoption of a bid price form of auction where successful bidders were allotted stock at the various prices at which they bid rather than a common price allotment whereby stock was allocated at the lowest accepted price
at least two fixtures were reported on soviet account to lift ec grain with a 22000 tonner booked from tilbury for a voyage via lower baltic sea and redelivery passing skaw at 4000 dlrs daily and a 27000 tonner from ceuta for a voyage via the uk and redelivery skaw cape passero at 4500 dlrs daily
allegheny beverage corp said it has been approached by a group interested in acquiring its foodservice unit service america corp
taunton which went public last june said the rate was based on 3220000 outstanding shares
azpurua said the governent plans to pay 21 billion dlrs in public and private debt principal this year
in the year to end february superdrug reported pretax profits of 1226 mln after 1036 mln previously on turnover that rose to 2029 mln from 1643 mln
qtly div eight cts vs five cts prior pay april 24 record april three
pakistans consumer price index base 1975 76 fell to 23193 in january 1987 from 23326 in december 1986 and compared with 22366 a year ago the federal bureau of statistics said
tmoc owns 80 pct of the moonie pipeline co pty ltd which owns and operates the moonie to brisbane oil pipeline
dudley taft and narragansett capital to pursue taft broadcasting bid
beghin say not planning to withdraw sugar
it raises questions as to the strength of their consortium and the purpose of their offer dixons also said a us federal court had refused a request by counsel for cyacq audio video affiliates inc ava and a shareholder plaintiff to prevent dixons from completing its tender offer for cyclops
arrivillaga said the remaining 10 mln dlrs was in the form of technical assistance available for disbursement during a 36 month period
ic inds icx to sell certain assets to mlx 
shr profit 107 dlrs vs loss 119 dlrs net profit 3326000 vs loss 3446000 nine mths net profit 9714000 vs profit 3665000 note latest and prior nine month per share amounts not given
the seasonally adjusted jobless total rose however in march to 223 mln from 218 mln in february it added
remaining shareholders would have until later this month to sell their shares to stora the company said in a statement
avon products inc said it reached an agreement in principle to purchase giorgio inc a fragrance company for 185 mln dlrs in cash
the zambian government has no immediate plans to follow last weeks increase in the producer price of maize with a hike in the retail price of maize meal an official of the ruling party said
these forms of lending they say give the banks a greater stake and more economically secure return on investment
given the state of the water i fear there is no hope townsend thorensen owners of the 7951 tonne herald of free enterprise said the ferry was carrying 543 people and that 345 had been rescued
there are analysts however who believe wendys may be vulnerable to a takeover
in argentina a reduction in the sown area of about 20 per cent was put down to low prices causing producers to switch to other enterprises particularly livestock while lower us acreages are attributed to official incentives
a roughly even bond stock portfolio split also is urged by wright investors service with 425 billion dlrs under management but it is more optimistic on bonds than stocks
bsn corp said it purchased macgregor sporting goods common stock in recent open market transactions
1985 year oper net excludes loss from cumulative effect of change in accounting principle of 67000 dlrs or one ct a share
major swiss banks raise customer time deposit rates 1 4 point to three pct credit suisse
decisions on how to cut the farm budget will have to be made very quickly in order to make any impact on the fy 1988 budget glickman added
gold futures retreated from modest early gains and closed steady while silver prices rallied on the commodity exchange in new york
communist party leader harilaos florakis said here the climate is calmer today greek newspapers reported that the greek army navy and air force had been moved to strategic greek islands in the aegean and to the land border with turkey at the evros river
but analysts said the crisis interrupted current policies and could slow economic development
simply to ignore the external economic context would be risky and dangerous for monetary policy he explained
hugh liedtke told a meeting of analysts that the company expects its first quarter net to be down considerably before an unusual item from the loss of 49 cts a share reported a year ago
the buffer stock manager may announce today he will be making purchases tomorrow although under the rules of the agreement such action is not automatic traders said
gencorp shares were delayed at the opening on the new york stock exchange because of an imbalance of orders and the nyse said the shares were indicated to open at 103 to 115
domestic group net profit 10579 mln marks vs 8071 mln turnover 293 billion marks vs 271 billion incoming orders 292 billion marks vs 286 billion order book at end december 228 billion vs 237 billion tax payments 10498 mln marks vs 8867 mln depreciation of fixed assets 10725 mln marks vs 15075 mln new investment in fixed assets 14888 mln vs 14822 mln dividend already announced 12 marks vs 11 dvfa earnings per share 3222 marks vs 2754 marks shareholders annual meeting may 13 dividend date may 14 world group turnover 388 billion marks vs 362 billion incoming orders 391 billion marks vs 391 billion new investment in fixed assets 247 mln marks vs 252 mln no world group profit figures given parent company net profits 9504 mln marks vs 7491 mln turnover 228 billion marks vs 214 billion
proceeds from the offering together with about 50 mln dlrs in bank borrowings will be used to repay or redeem financing incurred in connection with the takeover it said
it also has interests in cellular telephone and paging services providers
we affirm the sovereignty of our economic decisions and the capacity for mobilising our own resources it said
in 1985 a total of 71539 wells were drilled 36834 oil wells 13036 gas wells and 21669 dry holes
the striking price then was 435 pence 75 pct above the minimum tender price a treasury spokesman said
japan seen reducing beef pork intervention prices
miyazawa says present yen not necessarily ideal
ortiz mena said 42 countries opposed washingtons proposal to lower veto power over loans to 35 pct of the banks voting shares from a simple majority as at present
they attributed the projected surplus mainly to 1900 billion yen of government tax allocations to local governments and public bodies
a top us official said japan has little chance of convincing the us to drop threatened trade sanctions despite the efforts of a japanese team that left for washington today
the treasury said in a statement the annual yield of the seven year certificates will be indexed to 50 pct of the annual yield of 12 month treasury bills
man to buy into hong kong firm
earlier this week chemlawn agreed to accept a merger proposal at 3650 dlrs a share from ecolab inc in a transaction valued at about 370 mln dlrs
in the merger lanes stockholders will receive 15 shares of interco common stock for each outstanding share of lane common stock interco said
but the senate bill would not offer the 0 92 option to wheat and feedgrains producers or raise the 400 mln dlr ceiling on the disaster assistance program
finance minister gerhard stoltenberg said last thursday he was looking for other ways to finance the reform such as raising indirect taxes
shr loss 351 dlrs vs loss 614 dlrs net loss 32 mln vs loss 66 mln year shr loss 238 dlrs vs loss 517 dlrs net loss 692872 vs loss 45 mln note1986 loss includes loss of 301000 for discontinued oeprations vs a loss of 55 mln dlrs net of a 14 mln credit in 1985
it said sales for the first quarter were about 8363000 dlrs up from 6636000 dlrs
ferruzzi owns about 40 pct of montedison the company said
it is currently transporting about 17000 bpd out of its 100000 bpd capacity an ecuadorean energy ministry official said
colombo to defend waters india readies flotilla
a statement by the preferential trade area pta which seeks to create a common market stretching from ethiopia in the north to lesotho in the south said the governments would make the first tariff cut next year
in the last three to four months there has been a resurgence of inquiries he said
silas said the 1986 assets sales will not affect earnings for the company
cocoa chairman works towards buffer compromise
federated guaranty fdgco sets stock split
the drop was far less than the 15 basis point decline in the previous period the agency said
full year earnings totaled 29 mln dlrs against a year earlier loss of 15 mln dlrs
while company officials declined to disclose earnings and revenue figures oneil said gelco express holds a dominant position in the industry handling more than 50000 packages a day and generating revenues of more than 100 mln canadian dlrs a year
corroon and black corp said it completed the acuqisition of contractors planning group inc in an exchange of shares
one tea broker said pakistans move had already affected kenyas tea trade and was largely responsible for an average fall of two shillings a kilo at the export auction in mombasa last monday
us sells 3 mo bills at 547 pct stop 548 pct 6 mo 551 pct stop 551 pct
however there is the threat that the iranians seeing these heavily protected us flag tankers will go for softer targets one diplomat said
omar said last march it would be difficult if not impossible for sudan to meet scheduled debt repayments of 417 billion dlrs over the next five years
the joint venture bank began operating in september 1985 but did not officially open until march 1986
the carbon chloride bonds in sucralose are stable and are not broken during digestion or metabolism
since then despite massive bank of japan intervention and periodic market frights about further g 5 concerted action the dollar trend has been down down down
shr 38 cts vs 47 cts net 968000 dlrs vs 1053000 dlrs revs 154 mln dlrs vs 126 mln dlrs notethe year ended march 31
non interest income totaled 3426 mln dlrs in the third quarter up 47 pct or 1097 mln dlrs largely due to increased income from foreign exchange trading fees and commissions
now its our turn to see if we can survive cut throat competition said a source at one major japanese oil company
it said orbis management will remain in place for at least three years
no export duty is applicable at this level against 3 8 cent per kg last month because the government raised the export duty threshold price to 210 cents per kg in early 1985
shr 82 cts vs 76 cts net 4200000 vs 3954000 sales 587 mln vs 606 mln year oper shr 268 dlrs vs 247 dlrs oper net 138 mln vs 130 mln sales 2743 mln vs 2768 mln note prior year net excludes loss 1120000 dlrs from discontinued operations and loss on disposal of 922000 dlrs
the exercise prices remain in force after the dilution through an announced rights issue to be conducted on may 11
the current farm bill has been in place for just a little over a year and in our judgment there is more to be gained at the present time from maintaining the legislation
uk money market given further 442 mln stg help
shr 26 cts vs 18 cts net 879000 vs 615000 revs 6394000 vs 5561000
however in the face of sterlings apparently inexorable climb the authorities today decided to cede to pressure and allow a half point cut
the army newspaper quan doi nhan dan monitored here said soldiers must work harder to care for rice vegetables and other crops endangered by the present unusually hot weather
guarantee gfcc units debt on s p watch
great northern nekoosa gnn announces split
ec opens special rebate for maize paris trade
french january m 3 money supply rises one pct
the bank official said commercial bank reserves were 2219 billion pesos at the end of december when reserves required were 2159 billion
japan is in the process of joining the international cocoa organisation icco which will bring the number of members in the body to 36 icco officials said
strawbridge and clothier strw 4th qtr net
analyst hine said the gelco and purolator canadian units will likely retain operating links with their us delivery network generating traffic for the former parent companies without them having to tie up capital in canada
comprehensive care corp cmph 3rd qtr net
vermont financial services corp said its board approved a regular 20 cts per share cash dividend payable april 25 to shareholders of record march 26
he added that china also will need to import more corn this year than earlier anticipated but he gave no figures
shr loss eight cts vs profit six cts net loss 895000 vs profit 662000 sales 911 mln vs 898 mln
kahan said recent government reports have shown strength in the economy during the first quarter but his concern is whether the us economy will sustain that strength in the longer term
spendthrift farm inc said it has received three tentative proposals to acquyire control of the company
greek prime minister andreas papandreou said the military readiness of our country is able now to give a very hard lesson if our neighbours turkey were to carry out military actions the row erupted when the greek government said last month that it was taking control of a canadian led consortium which was already producing oil off the greek island of thassos and would drill in the same area after the takeover
the issue is partly paid with only 20 pct of the payment due on april 23 and the remainder due october 23
utilicorp ucu unit buys stake in power plant
liro said the fed probably is shooting for a two week borrowings average of 300 325 mln dlrs
but he told the group will hold the 20 pct stake bought from liang as long term investment
it rose a revised 05 pct in february and was up 147 pct from a year earlier
even though an earlier thin protective layer of snow mainly melted in february air temperatures down to minus 30 c should not be harmful she said but added that wheat can still be damaged by cold spells in march and april when young shoots may be exposed to night frosts
current money market rates are at 5 3 4 to 6 1 4 pct for call money against 5 1 4 to 5 3 8 a week ago and between 5 5 16 and 5 9 16 pct against 5 1 4 to 5 1 2 for one to 12 month periods dealers said
the rating agency cited the companys strong financial performance which was achieved by keeping expenses under control and not by relying on raising local phone rates to its customers
the selling concession is 1 1 2 pct while management and underwriting combined pays 3 4 pct
the certificates have a 6 1 2 pct coupon and initial price of 896 for a bond equivalent yield of 8 1 2 pct
aec inc aece sets regular payout
one senior dealer said the bundesbank with advanced knowledge of the markets needs should have curtailed its sales of treasury bills on friday
however he said the market should also take into account evident factors such as brazils low stocks and the sale of the near totality of the central american crop
irving bank corp said a six pct drop in first quarter net income from a year earlier was largely the result of placing medium and long term loans to borrowers in brazil and ecuador on non accrual status
imports for the year ended december 1986 were 1074 billion dlrs compared with 1114 billion in 1985
citizens growth properties said it ommitted its regular quartelry dividend as a result of decreased earnings principally attributable to the default by a borrower of the trusts laargest mortgage loan
ecopetrol is exploiting cravo norte in association with occidental petroleum corp oxy and shell petroleum nv a unit of the royal dutch shell group rd st ecopetrol said in a communique that bombings since last july led to a loss of more than 110000 barrels of crude or the equivalent of 10 mln dlrs
but others said the new contract would soon attract trading interest given that much 9970 metal has already been attracted to the lmes warehouses by backwardations
unions and employers dispute the average wage increases agreed so far this year
tonen sekiyukagaku kk and exxon chemical co a petrochemical division of exxon corp xon said they agreed to accelerate a study to set up an equally owned joint venture to make waterwhite resin in japan
analysts expect apparel sales to remain good as sales of durable and houseware items grow softer due to the continuing high levels of consumer debt
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
it also said it lowered its earnings forecasts for the remainder of the fiscal year
however he said not enough financial details are known about domes debt restructuring to compare the value of transcanadas proposed offer
the qtr and year 1986 includes deferred income taxes of 244000 and 785000 respectively
market uncertainties and the erosion of portfolio manager confidence could continue portfolio selling pressure a while longer said philip braverman chief economist at irving securities corp
based on the recent price of norstars stock it said the proposed tax free exchange would have a market value of about 20 mln dlrs
japans plan to cut beef intervention prices for the fiscal year starting april 1 will not boost demand because of strict supply controls and a complex distribution system japanese and us industry sources said
but analysts cautioned that although japanese producers can cut output boosting imports the key to us withdrawal of the sanctions is more difficult
jack van fossen
the rise took the percentage of the workforce out of a job to 110 pct last month from 109 pct in january and 107 pct at the end of 1986
financial charges 34 mln vs 33 mln
the purchase believed priced around 210 dlrs a tonne cost and freight for fine medium grain was due to be shipped for arrival in may 30000 tonnes in june 45000 and in july 25000 tonnes they said
teletrak advanced technology 4th qtr loss
he said that morgan stanley and co inc and salomon brothers inc bought most of the bonds
calmar inc said keboo ab of sweden which now owns about 64 pct of calmark has approved the acquisition of remaining calmar shares at 25375 dlrs in cash at the request of the calmar board
the figures in usxs just released 1986 annual report indicate much of the drop resulted from the exclusion of 2937 mln barrels of libyan reserves after the us government last june directed us oil companies to end libyan operations
weve begun efforts to secure that financing he said
treasury secretary james baker asked whether he was concerned about yesterdays precipitous decline in bond prices said he was not
csr sold delhi which holds an average 25 pct in the santos ltd stoss led cooper eromanga basin onshore gas and liquids joint ventures to an exxon corp xon unit for 985 mln dlrs on april 1
1985 period while imports dipped to 102 billio dlrs from 114 billion
it said about 4400 current us employees and 12000 us retirees are presently supported by allis chalmers health care plans
standard and poors defines the aa category as only slightly different from the top aaa rating simonsen said in a statement
hercules hpc gets 1315 mln dlr contract
phelps dodge pd calls preference shares
c david finch an australian who heads the imfs exchange and trade relations department told the imf executive board on wednesday that he planned to leave by the end of next month after 37 years with the agency
non callable for seven years the issue is rated a 2 by moodys investors service inc and a plus by standard and poors corp
citicorp cci and chase manhattan corp cmb yesterday increased their prime lending rates to 7 3 4 pct from 7 1 2 pct
since it has not yet decided how to treat the additional writedowns and debt it has delayed its 1986 financial statement
general partners the group tendering for all gencorp inc shares at 100 dlrs each said it has started soliciting proxies against gencorps proposals to increase its number of authorized shares outstanding create a board with staggered election dates and eliminate cumulative voting
last month petrobras cancelled a 40 mln dlr oil purchase from saudi arabia after the saudis refused to accept credit guarantees from the official bank of brazil
john lafalce d ny has introduced a bill to create an international debt adjustment facility to deal with third world debt
owens corning fiberglas corp said it sold its controlling interest in its french foam insulation producing subsidiary to a lafarege corp laf subsidiary
if sales were made they would be executed by individual exporting companies which are members of the brazilian cocoa trade commission they said
in an inteview with this week usda secretary richard lyng said that no decision had been made on a wheat subsidy offer but that such an offer had not been ruled out
citicorp ccin and chase manhattan corp cmbn have already entered the japanese securities market by acquiring uk securities houses already operating in japan
it doesnt surprise me that they came up with another one said allan kaplan of merrill lynch and co
it said the bwb expects the us to be major supplier of the additional 400000 tonnes but commitments for purchase of us wheat through two thirds of 1986 87 year total only 600000 tonnes versus 700000 a year ago
housing and equities were the key two asset markets in influencing consumer behaviour he said
this compared with 2519 in december 2655 in januay 1986 and 2672 in december 1985
cohn said the bank stocks may be risky until numbers on non performing loans are reported for each bank
it said it believed bulolo was not fully exploited in the past noting the literature refers to heavy gold losses in tailings during dredging from 1931 to 1967 which produced a total of 21 mln ounces
payments to farmers including price support loans and deficiency payments similar to the gramm rudman hollings budget cut applied in fiscal 1986
btr nylex which manufactures rubber and plastic products first bid for bwa in late january
hopefully its the beginning of a trend said richardson greenshields of canada ltd economist susan clark in toronto
gencorps stock rose 15 3 4 to 106 1 4 in heavy trading
a sharp rise in soviet sugar consumption since the start of the kremlins anti alcohol drive indicates home brewing is costing the state 20 billion roubles in lost vodka sales pravda said
together the two had revenues of about 50 mln dlrs in 1986
exports grew three pct in volume and imports two pct
the bank cut the rate to 25 pct from three and began actively injecting funds into the money market to offset rate rises resulting from the end of fiscal year surge in demand for funds from financial institutions
dutch social affairs minister louw de graaf announced he is withdrawing the annual 10 mln guilder labour subsidy for rotterdams strike hit general cargo sector as from july 1
its getting to be like communism said one
on the question of conditions for entry into force of the new inra xuto said it was tentatively agreed that governments accounting for 75 pct of world exports and 75 pct of world imports approved or ratified the new agreement before it became operational
group has 51 pct of american physicians ampho 
it will be advised by bci and managed by a company owned jointly by barings and the management of bci
the agency will also examine the effects of recent acquisitions on service merchandises operating results financial structure and cash flow
viacom shares climbed 2 1 2 to 50 3 8 by midafternoon
the group which currently holds 318900 cardis common shares consists of new york based brookehill partners and its two subsidiaries brookehill equities inc a brokerage and moore grossman and derose inc an investment advisor
italys consumer price index rose 04 pct in february compared with january after rising 06 pct in january over december the national statistics institute istat said
the dividend is payable july one to holders of record june 16
we could easily have another prime rate increase as soon as this week said david jones of aubrey g
textile commercial and fishing canneries with sales over 124 mln intis would have to buy bonds equal to 20 pct of profits
gordon presided over six hours of argument today by lawyers for burlington and samjens a partnership formed by dominion textile inc and new york investor asher edelman
a total of 5000 dlrs for work in encouraging mcdonalds to expand its mcrib sandwich to japan and singapore was also awarded to the meat export federation
the rally in oil prices this week came after prices fell in february more than two dlrs from its high of 1825 dlrs a barrel
zambian exchange auction to resume at end of march
international proteins said it will use the proceeds to expand domestic operations
he said both provinces are more developed than other sugar producing areas and more sensitive to demand from cities
both sides wrote to the minister yesterday setting out their cases but schoufour said he did not expect to hear from him before wednesday at the earliest
shr 32 cts vs 18 cts net 1200466 vs 545670 revs 82 mln vs 64 mln year shr 152 dlrs vs 27 cts net 4972683 vs 1046460 revs 333 mln vs 23 mln
allied signal inc to sell linotype group to commerzbank of west germany
analysts said there was speculation gaf would make a new offer for the chicago based plastics and automobile parts company
the key issues to be addressed at this council session which divide icco members are whether non member cocoa should be eligible for buffer stock purchases and what price differentials the buffer stock should pay for different types of cocoa delegates said
asked whether he believed the markets would test the paris currency accord stoltenberg did not comment specifically but noted that much of what had been discussed in paris had not been published
the bank had not paid foreign exchange to private firms since it suspended the weekly auctions on january 28
gilt sales now are effected by means of large scale stock tenders or by tap issues of stock tranches direct to the market
bank of japan buys small quantity dollars dealers
state to control 70 pct of pakistan tea imports
avx corp said it has filed a registration statement with the securities and exchange commission for a proposed public offering of 75 mln dlrs prinicipal amount of convertible subordinated debentures
the turkish government said yesterday it had licensed the state owned turkish petroleum corp to explore for oil in international waters around three greek islands off turkey
far west financial fwfp to buy progressive
however some economists said the fed may arrange more aggressive system repurchase agreements
the company said the technology will allow it to introduce a cleaner and more efficient way of making methyl methacrylate a liquid monomer used to make resins for acrylic sheet coatings molded parts and products and plastic impact modifiers
the company said it informed triton of its present good faith intention to buy more than 15 mln dlrs worth of triton stock
republic american corp said it began an offer to exchange a new issue of 9 1 2 pct subordinated debentures due 2002 for a portion of its common stock
terms call for each share of orbanco common stock to be exchanged for about 14 dlrs of security pacific common stock plus 150 dlrs cash
ibcs interstate bakeries ibc bid oversubscribed
affiliated publications inc said it agreed to acquire all the outstanding stock of billboard publications inc for 100 mln dlrs in cash from a shareholder group led by boston ventures limited partnership
oper shr loss 14 cts vs loss 49 cts oper net loss 22000 vs loss 441000 revs 226 mln vs 136 mln year oper shr profit 14 cts vs profit 47 cts oper net profit 1952000 vs profit 2794000 revs 762 mln vs 564 mln note 1986 4th qtr and year oper net excludes a loss of 54000 dlrs for discontinued operations and a a gain of 218000 dlrs and 2393000 dlrs respecitvely for extraordinary item
last week before extending its cyclops offer for one week at the request of the securities and exchange commission dixons had reported that 54 pct of cyclops stock had been tendered in response to its 9025 dlrs per share offer which expired at 2400 est yesterday
the two sides usually try to meet as each new year of the agreeement approaches although the last meeting was delayed up to last february
alexanders alx 2nd qtr ends feb 27 net
gros defended brazils recent economic record noting inflation slowed in february the trade surplus rose and the public sector budget was in operational surplus
japan has assured a meeting of trade ministers it is making every effort to expand domestic demand and restructure its economy
saudi businessmen to discuss private sector
standard and poors said that in return for its two billion dlr investment chrysler would be receiving a business with questionable prospects
outokumpus managing director pertti voutilainen told a news conference the reorganization involved a split of the division into a new independent division with six profit centres
the issue is available in denominations of 1000 and 10000 dlrs
the company said the sale is taking place because amtech is not compatible with blockbusters main line of business will require substaintial additional funding to develop and market its product and is expected to sustain operating losses for the forseeable future
banking sources said the tax change would boost simex trading by non bank institutions and individuals and would benefit foreign firms and institutions
nine pigmeat contracts were traded in february six more than in the previous month representing 450 carcases against 150 valued at 29347 stg against 9847 stg
petrobras asks army to withdraw troops
eia says distillate stocks unchanged in week
uk government bonds or gilts surged by more than 1 2 point on the better than expected news as earlier worries about the figures evaporated
as long as there is a gap between prices set under the pact and market prices there will be people who want to exploit the gap to make money a hitachi ltd hitt spokesman said
westpacs 1750 pct is the lowest prevailing rate
at low water tide the vessel has a list of five degrees to port and the list increases as the tide rises
national micronetics inc nmico 1st qtr
note in april company intends to acquire michigan sealy licensee and fund transaction with 25 mln dlrs in cash and borrow balance required from banks
gold futures which previously had a limit of 25 dlrs on market moves in most back months were about 700 dlrs weaker in the nearby contracts amid thin conditions traders said
quebecor issues 60 mln dlr convertible bond
paul boltz of t
finance minister gustavo petricioli said todays signing of a 76 billion dlr new loan and rescheduling package for mexico was the most comprehensive and far reaching effort in debt management yet achieved for a sovereign borrower
franklin resources inc ben sets quarterly
non callable for two years the issue is rated b 2 by moodys investors service inc and ccc plus by standard and poors corp
in line with that decrease californias crude oil output fell about 10 pct last year due to low oil prices and is expected to remain at that lower level analysts said
bank of new york reaffirms terms for irving v 
the company said the new agreement extends a prior debt moratorium on principal and interest payments on approximately 30 mln dlrs of long term debt to june one 1987
kuwait says it has full gulf arab support
squibb is cetus first pharmaceutical partner and the only one to own an equity position in cetus
non refundable for five years the issue is rated baa 3 by moodys and bbb minus by s and p
communications and cable inc said it acquired about 21 pct of the outstanding shares of imnet corp a privately owned company that designs makes and services proprietary image storage and retrieval systems
light louisiana was also raised 50 cts to 1935 dlrs barrel
everyone is convinced the buffer stock rules should be in place by friday so the buffer stock can be put into operation monday a consumer delegate said
shr loss 16 cts vs loss seven cts net loss 3450000 vs loss 1508000 sales 56000 vs 1187000 avg shrs 22568000 vs 20591000 year shr loss 38 cts vs loss 29 cts net loss 7977000 vs loss 6005000 sales 3699000 vs 2391000 avg shrs 21111000 vs 20578000
but reforms including upgrading the quality of goods and allowing joint ventures with foreign firms will encourage modest export gains in future
shr 25 cts vs 18 cts net 109131 vs 75793 revs 1811636 vs 1280618
revised estimated calculation of workers compensation earned premiums decreased 1986 earned premiums by 10 mln
shr loss 21 cts vs loss 14 cts net loss 838069 vs loss 433875 revs 1080068 vs 1793398 avg shrs 4004826 vs 3172537 12 mths shr loss 39 cts vs 11 cts net loss 1387500 vs loss 334463 revs 6456882 vs 5605680 avg shrs 3542217 vs 3071456
the next six weeks in the ussrs grain growing areas will be the crucial period that will determine the final outcome of the winter crops martell and other analysts said
liberty financial group lfg regular dividend
this is expected to prevent the area being boosted by dairy or cereal farmers moving into sugar
the uk trade department said it would not refer consolidated goldfields plcs cgldl purchase of american aggregates corp to the monopolies commission
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
despite the fall gyllenhammar said sales of industrial products have never been higher and volvo cars and volvo trucks were both completely sold out at year end
we have made a conscious strategic choice to become a smaller financially sound consumer products company which operates predominantly in the stable political and economic environment of north america he said
the deal offers banks a lucrative fee if they sign early and an exit bond provision allowing banks to sell as much as five mln dlrs of their existing loans
shareholders of colonial will receive between 36 and 44 shares of dauphin common stock for each share of colonial depending on dauphins current market value it said
the australian dollar market continued active with canadian imperial bank of commerce offering a bond of 125 mln five year with a zero coupon priced at 54
columbia gas system inc cg redeems debentures
for year does not include extraordinary credit of 92000 dlrs or three cts per shr in 1986 and 161000 dlrs or five cts per shr in 1985
belgiums gdp growth may slow down to 15 pct this year and next year bringing a rise in the number of jobless the oecd said in its semi annual survey
we werent buying dollars from venezuelans thats ridiculous he said
martens said the money is being found through a series of small economies and confirmed that it includes the raising of two billion francs through the sale of part of the governments 50 pct holding in the gas company distrigaz
our goal is for a merger to occur
taft agreed in november to sell the stations in philadelphia washington miami fort worth dallas and houston tvx broadcast for 240 mln dlrs
the rise in the nominal figures masks a lower export trend that is not expected to change for several months at least said an economist
moisture for early rice planting is adequate to abundant in most areas and inundative rain in guangdong and southern jiangxi may have washed out some rice fields requiring replanting
better industrial relations at grain terminals more uniform transport systems across the states and extensive stock control were vital to improved marketing it said
but he said that because of the amenities of living in san francisco he was the envy of many chief executives in other metropolitan area
he said it was up to countries that declined to cooperate such as britain to come up with their own proposals if they saw fit
if the charges are proven the firm could face a fine of up to 800 mln dlrs
boeing co said it has started the 37 dlr per share tender offer for all shares of argosystems inc that it announced yesterday morning
first union corp said it has agreed to acquire first state bancshares inc of pensacola fla and its first state bank of pensacola subsidiary for about 457000 common shares
money market sources said in view of high borrower demand the suspension was likely to remain in effect until april 3 the start of the next 10 day accounting period for reserve requirements
transworld airlines inc plans to refile an application monday with the department of transportation for approval to acquire usair group u the dot late today dismissed twas application to acquire usair
the department said personal consumption expenditures were up during february by 17 pct or 491 billion dlrs to 28559 billion dlrs after falling by 584 billion dlrs or two pct in january
comptek research inc cmtko 4th qtr march 31
spring plowing seventeen pct completed vs 66 pct a year ago and 48 pct avg
peru registered a 16 mln dlr trade deficit in 1986 its first trade shortfall in four years a central bank statement said
arco arc spin off seen at 500 mln dlrs
moodys said the companys prospects for improvement are limited by increasing competition in the food service industry and decreasing demand for the vending services that allegheny provides
high octane gasoline accounts for 25 pct of shells total gasoline sales in japan it added
price sensitivity is also reduced by the fact that the majority of silver is a by product of other mining activity
the june british pound closed at 16080 on tuesday
terms of the acquisition were not disclosed
the funds will be used for sewerage and reclamation work
john heinz r pa urged the administration to take steps to reduce volatility in the financial markets including suspending program trading and limiting daily trading on stock index futures
zaire the worlds leading cobalt producer and the sixth largest supplier of copper depends on the two minerals for two thirds of its export earnings
a major palm oil dealer said he shipped malaysian palm oil to indonesia in february additional vessels were loading this month and other vessels had been earmarked for april
the seamen are demanding pay raises of about 200 pct but have been offered less than half that
while fixed rate mortgages are uncommon in the uk they were the mainstay of the business in the us up until only a few years ago
as a result of the split hanover said it increases the number of authorized shares of capital stock from 104 mln having a par value of one dlr to 209 mln also having a par value of one dlr
morgan crucible co plc mgcrl said the prospects for 1987 were encouraging with orders and sales significantly up on last year in all divisions
saudi banks face further lean period
nonaccrual loans restructured loans and other real estate were 637 mln dlrs or 224 pct of total assets compared to 514 mln dlrs or 184 pct of assets at the end of 1986 and 6361 mln or 246 pct of assets at march 31 1986
the area could contain potentially recoverable oil resources of more than 92 billion barrels an amount nearly equal to the prudhoe bay oil field which currently provides almost one fifth of us domestic production hodel said
php healthcare corp phph 3rd qtr jan 31 net
but industry sources said that shutdowns may have been rearranged to avoid running negative netback crude
bootle said the money markets had almost entirely discounted such a one point cut with the key three month interbank rate down to 9 11 16 pct from 9 13 16 last night and it would be rather conservative for banks to go for a half point cut now
we have been recommending the stock since it was in the 50s but we reiterated today because of expectations of strong earnings momentum its benefits from the lower dollar and anticipation of nice gains in margins merrill lynch analyst charles ryan said
valley resources inc said its board declared a three for two stock split and raised the quarterly dividend to 42 cts per share presplit from 38 cts both payable april 15 record march 31
m
the washington based ida is the world banks affiliate for concessionary lending
the yen rose 26 pct to an average of 159 yen to the dollar reducing the companys total sales in the three month period by 40 billion yen hashimoto said
the attorneys who asked not to be identified said the sec was investigating whether sugarman and other firms with tre holdings were working together without disclosing their cooperation as would be required by the federal securities laws
sheppard resources inc said it signed a letter of intent to merge with breast centers inc an owner operator and franchiser of clinics that provide services for the early detection of breast cancer
it said cash flow per share this year should be 250 to three dlrs
cardis corp said it anticipates reporting a loss from continuing operations of approximately 177 mln dlrs on revenues of 228 mln dlrs for fiscal year 1986
the controversial war powers act could require a pullout of us forces from the gulf
it has also asked france to curb the activities of iranian dissidents in france and stop selling weapons to iraq its enemy in the gulf war
financial analysts see little chance that us interest rate futures will break out of their narrow ranges and low volatility during the remainder of the week
januarys level was 129 pct higher than the same month a year ago
the market is paying more attention to the weakened state of the economy right now said refco analyst mike connery
the new management didnt have that problem amc wasnt their baby he said
asbestec industries asbs sets stock split
consumer spokesman peter baron called the tone of the negotiations optimistic and realistic the icco council failed to agree on buffer stock rules when a new international cocoa agreement came into force in january with deep differences of opinion precluding serious discussions on the matter at that time
stifel financial said it received unsolicited merger proposal
anchor financial corp 1st qtr net
central bank and other government officials were not available to comment on the report
japans industrial production index base 1980 rose 03 pct to a seasonally adjusted 1227 in february from the previous month the ministry of international trade and industry said
pins are tradable foreign currency denominated financial instruments with a six year maturity designed for conversion into pesos to fund government approved equity investments within the philippines
rains in the week to yesterday were isolated and weak in buenos aires province totalling between one and 10 mm
malaysia the worlds top producer acted as spokesman for producers at the talks which began on march 9
bass who controls 25 pct of the stock and american financial corp holder of 15 pct did not return telephohe calls seeking comment
the guarantee line for sales of protein concentrates has been increased from 250 mln dlrs to 440 mln dlrs it said
company full name schweizerische aluminium ag
a main purpose of the study is to clarify export subsidies by major exporting nations like the united states and the european community but japan is a major importer he said
brazilian planning minister joao sayad resigned a presidential spokesman said
its hard to tell whether the g 6 agreement still stands a dealer said
cip inc wholly owned by canadian pacific ltd is considering building a pulp mill in texas which would use kenaf fibre instead of wood cip president cecil slenniken said in an interview
maize harvesting has also reached 36 to 40 pct of the area sown
metromedia co said morgan guaranty trust co of new york filed a complaint against metromedia for default under the indenture to which its subordinated debentures are outstanding
eli lilly lly to sell elizabeth arden unit
results include loss of 7435000 or eight cts shr in prior nine mths from discontinued operations
upon closing of the public offering the company said it expects the secured institutional financing to increase to a total of 12 mln dlrs
he said the elimination of figure padding and other malpractices would save billions of roubles and would pay for the soviet unions social development program up to the year 2000
chase shares closed on friday at 441 dlrs and the options at 238
shareholders will also be asked to approve changes in the banks articles of association to allow it to offer shares in lieu of the interim dividend at a discount of five pct to the market price
acp states say ec oils tax plan breaks accords
pepsico unit pep lifts calnyo stake
we also take into account other factors such as prices at which the goods and services are offered to india the trade official said
tenneco inc said tennessee gas pipeline co its largest interstate natural gas pipeline will transport natural gas under the open access rules of the federal energy regulatory commission ferc
in addition the company said it expects to report a year end loss on the discontinued operations of its engine rebuilding divisions of approximately 1100000 mln dlrs
gencorp said lower operating profits for the tire and plastics and industrial products segments were essentially offset by higher wallcovering results
rexham said it received the takeover offer in a letter from nortek
all regions have seen above average falls in long term unemployment during the past year he added
chinas rapeseed crop damaged by storms
this bond will pay a first coupon of 21250 francs on october 27 next year and the payment date will be october 27 this year
international business machines corp said shipments and revenues were higher in the first quarter but net earnings fell 228 pct in part due to higher expenses
liebert corp lieb approves merger
the sterling grace capital group said certain of these institutions have expressed serious interest in providing financing for the proposed acquisition of japan fund adding we are reasonably confident that the financing can be quickly arranged if the japan funds board of directors is willing to recommend the transaction to shareholders
wang laboratories inc wanb 1st qtr sept 30
transamerica corps transamerica insurance co said it signed a definitive pact to buy a 51 pct interest in sedgwick group plcs river thames insurance co
the two additional properties comprised about 11 pct of its current value equity at year end southwest said
the remaining outstanding balance currently 11812000 dlrs will be retired at a price of 1041 dlrs a bond
franklin gold fund cuts dividend
it recently reported first half 1986 87 net fell to 1502 mln dlrs from 1709 mln a year earlier due to the australian housing downturn although foreign earnings rose
william rogers omni drilling partnership no 1978 2 and entex inc
south african year on year broadly defined m 3 money supply growth was revised upward to 1037 pct for april from a preliminary 1008 pct but was down from a revised 1069 pct in march reserve bank figures show
citibank the main susbidiary of citicorp said the filing it made with the securities and exchange commission about the possible impact on earnings should certain brazilian loans be placed on a cash basis was not linked to debt talks that are about to begin with brazil
for its first six months ended december 31 the company earned 204 mln dlrs or 76 cts a share on sales of 4218 mln dlrs
many of the specifications are more specific than the current categories used in australia it said
borg warners stock rose 7 8 to 49 1 4 above the merrill lynch 4850 dlrs per share tender offer price
onyx petroleum exploration co ltd earlier reporting a 1986 net loss against year ago profit said it converted 7344000 dlrs of its 11 pct convertible debentures into 2824611 common shares
the issue was increased from an initial offering of 100 mln dlrs
universal resources corp said its shareholders approved the merger of the company with questar corp str separately universal said it will redeem its 1575 pct debentures due december 15 1996 on april 19 at 1048 pct of face amount plus accrued interest
bags price per 50 kg offered sold average pb 430 430 230478 226721 aa 7289 6834 229292 235896 ab 12664 11895 228999 229113 c 3198 2867 207315 210764 t 876 876 150879 151067 tt 1375 1375 205325 209564 e 159 159 225019 225218 misc 9009 8440 140950 139860 total 35000 32876 average for sale 201493 199494
qtr ended april 30 shr nine cts vs 17 cts net 1026000 vs 1840000 revs 259 mln vs 261 mln year shr 27 cts vs 56 cts net 2942000 vs 5865000 revs 957 mln vs 96 mln
asked if bank of montreal were considering declaring its brazil loans non performing reuber replied we havent really got to that point because we dont think we will have to face that issue some bankers in the us said earlier this week that slow progress in talks between brazil and its major foreign lenders has increased the likelihood that us banks will declare their brazil loans non performing at the end of the quarter
the company said the deal is expected to be closed in mid august
washington scientific wscio 2nd qtr net
towe
geodome sets idaho gold silver mine construction
asked if the administration had ruled out offering to subsidize wheat exports to the soviet union under the departments export enhancement program lyng said no
he provided no other details
money market analysts cited the debt renegotiation as the main impetus behind increases today in both the commercial and financial rand
gdp calculated at 1980 prices rose to 434682 billion lire last year from 423064 billion in 1985
the company said the value represents a substantial premium over the debentures market value which traded at 410 dlrs per 1000 dlr face amount on march 13
you have to look at the dollars peak compared with now and that was well before plaza he said
chrysler also holds a 15 pct interest in italian sports car producer alfieri maserati spa
cambridge recorded a profit of 2204 dlrs on revenues of 847000 dlrs for the first quarter of fiscal 1986 the company said
qtly div common 2 1 2 cts vs 2 1 2 cts prior qtly div special common one ct vs one ct pay may eight record april three
magellan corp sets merger with balzac
chemlawn said if waste management inc wmx intends to participate in the bidding process it will have to submit a confidentiality agreement to chemlawn financial advisor smith barney harris upham and co inc
the consortium partners will supply the plant supervise its construction and advise on product processing with krupp providing a 100 tonne capacity arc furnace and a converter for steel refining
feldstein said the task force which also included koei narusawa economic adviser to the president of the bank of toyko and paul krugman professor of economics at the massachusetts institute of technology did not agree on how much credit would be needed
washington federal savings and loans association
spains finance ministry deregulated bank deposit rates in an effort to raise competition among banks and bring legislation into line with the european community ec a ministry spokesman said
such a development could hit uk exports and sharply alter the outlook for the next general election in which economic recovery will be one of the governments main themes political analysts said
garnac grain co inc of new jersey received two shipments totalling 87000 tonnes at 8890 to 9229 us dlrs c and f taiwan for delivery between july 10 and august 10
from its dallas headquarters pizza inn said completion of the transaction is subject to certain conditions including that the price of panteras stock average not less than seven dlrs during the 20 trading days before the merger
japans leading economic organisations urged the government to prepare drastic pump priming measures even at the cost of shelving prime minister yasuhiro nakasones planned tax reforms officials involved said
most paris dealers expressed disappointment at the communique saying nothing has changed to reverse the dollars downward trend
twa also said it believed its offer was a better deal for usair shareholders than an acquisition of piedmont but it said it alternatively would discuss a three way combination of the airlines
they were never meant to be a vehicle for the transfer of resources and that is how developing countries often interpret them traditionally britain has always been supportive of commodity agreements reflecting its strong links with third world producing countries
the exchange said it had requested a statement from the company in light of the activity
s and p also withdrew the a rating on the outstanding non callable 11 3 4 pct lear senior notes of 1991
oper shr seven cts vs four cts oper net 159000 vs 94000 sales 4528000 vs 3683000 avg shrs 2376000 vs 2189000 year oper shr 19 cts vs 15 cts oper net 435000 vs 339000 sales 157 mln vs 144 mln note net excludes tax credits of 17000 dlrs vs 39000 dlrs in quarter and 268000 dlrs vs 294000 dlrs in year
bristol myers bmy reviewing scimed merger
foreign exchange reserves fell 3921 mln francs to 3355 billion
osborn communications corp initial offering of one mln shares of common stock and 30 mln dlrs of senior subordinated ten year notes through a group led by ef hutton and co inc
the hongkong bank group is still the leader in mortgage business despite tough competition from the bank of china group and other foreign banks one analyst said
there are currently 215 mln american express shares outstanding
s p upgrades weyerhauser wy market preferred
government cash balances rose 137 billion dlrs to 568 billion dlrs in week ended march 11
saudi arabia will succeed in pressuring other members of the organization of petroleum exporting countries to stay within their production quotas said morgan stanley group managing director john wellemeyer
qtly div 67 cts vs 67 cts prior qtr pay 30 april record 10 april
rabobank not anticipating a strong two day rally in dutch bonds on wednesday set an issue price of 9950 pct for a 625 pct eight year open mortgage bond giving it a yield about 1 4 pct higher than the market average
oil world said it was likely the soviet union would reduce soybean imports and step up significantly its imports of meal
he told a press conference the government planned to increase investment speed up the opening of the local market to foreign imports and gradually adjust its currency to hold the surplus at a proper level but he said the government would not allow the won to appreciate too much in a short period of time
amt is appealing on all points and has said it is important for the court to accept that a winding up petition is a move to enforce an arbitration ruling
year 1986 consolidated net profit 67 mln swiss francs vs 42 mln
it estimated 1985 86 output at 7170 mln tonnes vs 7171 mln last month
short dated saudi riyal rates firm in quiet market
gulf applied technologies inc said it sold its subsidiaries engaged in pipeline and terminal operations for 122 mln dlrs
gottschalks inc got 4th qtr net
baldwin piano and organ co said it filed a registration statement covering a proposed public offering of 630000 common shares
in addition the sales will produce 47 mln dlrs cash after debt reduction of 67 mln dlrs atco said
a repayment of 800 mln on public corporations market and overseas borrowings is forecast to bring the total public sector borrowing requirement down to 39 billion stg in 1987 88 from this years revised 41 billion the treasury said
ministers from member states ecuador mexico trinidad tobago and venezuela are attending the two day conference while colombia is present for the first time as an observer
professor lifts banc texas btx preferred stake
at the hasco compound where grim faced workers lined up to receive their last pay spokesman georges d
final div 8p making 13p vs 12p
the company said the action is effective immediately
duriron duri completes valtek valt purchase
yugoslavia will tender april 14 for 100000 tonnes of wheat the us agriculture departments counselor in belgrade said in a field report
foreign creditors may get permission to convert loan balances and short term claims into equity investments in south africa
in addition it bought four mln stg of bills for resale to the market on march 30 and two mln stg for resale on april 8 at a common interest rate of 10 7 16 pct
debentures will be selected for redemption on a pro rata basis ford said
in essence the council is claiming that its status is similar to that of a foreign embassy and that its archives can therefore not be used in an english court of law
the sources said it is still unclear when registrations will be reopened although most expect it to be by the end of this week
pennzoil shares were indicated at 85 to 87 dlrs compared with fridays new york finish of 92 1 4 dlrs
economic growth remains sluggish but silfer does not think that the federal open market committee changed policy at their meeting this week
they said the facility which will be syndicated among a small group of the borrowers relationship banks is being put in place ahead of the privatisation of rolls royce in april or may
it then sells shares in these to investors in the gulf region
march 7 end shr 17 cts vs 23 cts net 3998000 vs 5317000 sales 1894 mln vs 1596 mln nine mths shr 64 cts vs 68 cts net 149 ln vs 159 mln sales 5409 mln vs 4647 mln note twelve and 36 week periods
the humidity could induce rotting and growers are still finding more empty pods due to excessively dry weather earlier in the season
world grain trade recovery may be underway
the surplus is due largely to government tax allocations to local governments and public entities at the end of fiscal 1986 87 tomorrow
president reagan last year vetoed a textile protection bill but it was reintroduced in this session of congress and is expected to be voted on in the house this year
shr loss 207 dlrs vs loss eight cts net loss 11445000 vs loss 501000 revs 145 mln vs 110 mln year shr loss 191 dlrs vs profit four cts net loss 12427000 vs profit 211000 revs 608 mln vs 515 mln note includes non recurring charges of 12131000 dlrs in the 4th qtr and 12500000 dlrs in the year for reserve for underperforming restaurants
critics charge mpt with protecting its own turf limiting competition and sheltering the former monopolies under its wing
reuber told reporters the bank was still pondering its strategy regarding possible entry into the securities business after june 30 when banks and other financial institutions will be allowed full participation in the ontario securities industry
if oil prices should rise to an average of 20 dlrs a barrel he said arco could record earnings of 650 dlrs a share
private foreign banks and the world bank had calculated oil would have to be at least 25 dlrs a barrel for quito to be able to meet its commitments febres cordero said
they said they will tell the us international trade commission itc thursday that termination will have disastrous consequences for american companies and workers the current four year voluntary program reached with foreign exporters ends this summer and the itc must advise president reagan on the economic effect of its termination
share adjusted for three for two stock split
japanese interest in acquisitions has been continuous but the recent economic factors have become a driving force said a banking industry source
there are signs that central banks too realize the futility of swimming against the tide
4thh qtr feb 28 shr 46 cts vs 22 cts net 2139034 vs 854182 sales 308 mln vs 206 mln avg shrs 5280854 vs 4559646 year shr 134 dlrs vs 115 dlrs net 5935117 vs 4156171 sales 1072 mln vs 716 mln avg shrs 5281387 vs 3616183 note town and country jewelry manufacturing corp
house of fabrics hf sees results improving
allegheny intl ag first boston set merger
transamerica ta to have australian sale gain
engineering measurements co emco 3rd qtr net
he said sugar markets were holding up despite encroachments from artificial sweeteners and high fructose corn syrup
the consortium would infuse up to 550 mln dlrs in turner broadcasting in return for a 35 pct equity interest
1985 year net includes 616000 dlr loss from discontinued operations and 106 mln dlr gain on their disposal
bp will draw in cash from its operating companies around the world and is also arranging a five billion dlr line of credit he explained
the company said the offering was to have raised 7500000 dlrs for working capital through the sale of equity and debt and would have also financed the 1897000 dlr cash portion of the universal care purchase price
m
a budget saving proposal drafted by chairman patrick leahy d vt would limit adjustments in county loan rate differentials to no more than one pct per year from the national average loan rate starting with 1988 crops
decembers 29 pct was the previous worst level since the governments management and coordination agency began compiling statistics under its current system in 1953
us energy secretary optimistic on incentives
the us agriculture department forecast australias 1986 87 wheat crop at 1730 mln tonnes vs 1750 mln tonnes last month
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
corrects year ago comparison to 4545 mln from 5455 mln
us treasury aide warns on inflation
the big producers want to have the ball only in their court and it isnt fair minority producer spokesman luis escalante of costa rica said
three markets are involved at present but the new exchange could ultimately combine five markets
banks see german growth of at least two pct
kubota ltd kubt third quarter to january 15
japan panel urges world economic adjustments
us credit market outlook cautious trading
the united states has offered navy warships to escort kuwaiti oil tankers into and out of the gulf where they could be threatened by new iranian anti ship missiles us defense officials said today
the psbr at four billion is lower than anyone realistically expected bell said
rb industries inc said it completed the sale of its w and j sloane division to laurence crink jr and a group of investors
the survey said monetary expansion was estimated to be nine pct to date but might rise to around 12 pct by the year end
the last confirmed iraqi attack on shipping was on march 8 when an iranian tanker was hit by a missile south of irans kharg island oil export terminal
np energy corp said its bankruptcy court will appoint a trustee to oversee the companys two year old bankruptcy proceedings
no utilisation fee will be charged if they are to pick up less than 33 pct
mony real estate investors trust said its investment portfolio consists of 1371 mln dlrs of mortgages with an average maturity of less than six years 437 mln dlrs of real estate equities and 27 mln dlrs of foreclosed real estate
official figures show the reserves at 10514 billion dlrs at end 1986 down from 119 billion at end 1985
he added that in light of the declining demand for steel capacities had to be adjusted saying the bonn government would not successfully be able to stand in the way of any change in this industry
overall centel has nearly 495000 customers in seven states
great northern nekoosa first qtr shr 159 dlrs vs 54 cts
it said it has not decided its next move it the exchange proposal does not lead to negotiations with cenergy
gull gll in private sale of notes
thesing gmbh und co kommanditgesellschaft martin thesing handelsgesellschaft
the certificates created in october last year closed at 570 francs today
the cumulative total of cattle slaughtered under the program from april 1 through march 13 is estimated at 1032300 head it said
non callable for three years the issue is rated b 2 by moodys investors and b minus by standard and poors
the sale price was not disclosed
industrial production growth is along the lines of what the fed wants the energy products component of ppi rose 40 pct in february after a 98 pct increase in january
it revised its forecast for 1988 gdp growth to 17 pct from 16 pct in its last autumn review
lloyd bentsen a fellow texas democrat was positive and useful
the company said those investors will under certain circumstances cede their rights under the letter of intent and any definitive agreement to purchase the fort lauderdale fla funeral home and cemetery business to mhi
balladur responding to weekend remarks by us treasury secretary james baker that the us would take another look at the accords said i firmly desire a faithfull and firm adherence by all the major industrial countries to the louvre accords in both their letter and spirit on sunday baker said last weeks rise in short term west german interest rates was not in keeping with the accords
the deficit is expected to total 289 billion dlrs in fiscal 1989 and 286 billion dlrs in 1989 and then fall to 261 billion dlrs in 1991
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 soviets also secured a 34000 tonner from gibraltar for a trans atlantic round trip at 4500 dlrs daily and a 61000 tonner for similar business at 6750 dlrs daily
trade estimates of the coming may september temporao harvest in brazils main cocoa growing state of bahia are now in the 15 mln to 20 mln 60 kilo bag range against 20 mln to 25 mln two weeks ago
santos ltd stoss year ending dec 31
ec official faults us trade bill
its primary mission would be to analyze the extent of illegal trading on insider trading and to assess the adequacy of existing surveillance systems and government oversight operations
foreign governments and central banks are therefore expected to be allowed to hold their accounts at the bank of japan the securities sources said
it said the drop in crude oil and natural gas liquid reserves reflected downward revisions of previous estimates caused by the sharp drop in oil prices last year
uk money market deficit revised upward
lawson acknowledged that todays fall in interest rates were in response to his budget for fiscal 1987 88 unveiled yesterday to parliament and which set a lower target for the key public sector borrowing requirement psbr of 10 pct of gdp
changing tax laws to encourage city residents who only farm on weekends to put their land up for sale for residential development would also give a boost to domestic spending economists said
soviet sugar imports higher in oct nov
chinese nearby april rises to 90000 yen from 70000
shr loss 33 cts vs loss 48 cts net loss 17 mln vs loss 25 mln revs 63 mln vs 102 mln six months shr loss 54 cts vs loss 75 cts net loss 28 mln vs loss 39 mln revs 152 mln vs 234 mln
the selling concession is 1 3 8 pct while management and underwriting combined pays 5 8 pct
without the use of certificates amstutz said nearly the entire 1985 crop which had been put under loan would have been forfeited to the commodity credit corporation ccc
the holders have indicated their intention to tender and to reach an agreement with the company michigan general said
ford motor co of canada ltd fc 4th qtr net
cablevision systems cvcc buys stations
the offer will bring dairy farms stake in kwik save to 25 pct from the present 35 pct or 525 mln shares
a senior ivory coast agriculture ministry official confirmed his countrys backing for a new international cocoa pact and said ivorian delegates would be present at talks on its buffer stock starting this week
rainfall in the past few days has eased the threat of drought in the south china province of guangdong the new china news agency said
paul cain a vice president at shearson lehman brothers said the elimination of price limits will cut back on panic buying or selling and contribute to more orderly markets
bermuda star bsl leases vessel
there is evidently a common interest in the matter he said
he said the government policy was to rationalise and streamline import controls
s and p cited rate relief stabilization in 1985 bank debt restructuring and the implementation of cash conservation measures
saudi arabia bought 4000 tonnes of malaysian refined bleached deodorised palm olein for june 1 10 shipment at around 356 dlrs per tonne cost and freight jeddah traders said
teck hock owes over 100 mln singapore dlrs and the creditor banks earlier this week agreed to let teck hock fufill profitable contracts to help balance earlier losses
even though outboard would use proceeds from the share offering to pay down debt and there would be less debt the acquiring company would assume it still means more shares the suitor must buy to acquire the company he said
this brings total money market help so far today to 241 mln stg and compares with the banks revised estimate of a 350 mln stg shortfall
the us agriculture department detailed world supply demand data for major importers and exporters of soybeans by country as follows in mln tonnes brazil soybeans 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stocks 419 401 471 471 production 1700 1700 1390 1370 imports 035 035 209 029 domestic use 1454 1454 1351 1349 exports 250 250 120 120 end stocks 450 432 419 401 argentina soybeans in mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stocks 183 183 180 180 production 770 770 730 730 imports nil nil nil nil domestic use 497 497 474 474 exports 265 265 254 254 end stocks 191 191 183 183 ec 12 soybeans in mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stocks 051 052 066 066 production 083 083 033 033 imports 1289 1285 1299 1296 domestic use 1372 1368 1334 1330 exports 011 011 013 013 end stocks 040 041 051 052 japan soybeans in mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 076 076 079 079 production 025 025 023 023 imports 484 484 480 480 domes use 510 510 506 506 exports nil nil nil nil end stocks 075 075 076 076
the payment date is april 30
youll find poeple who think we havent avoided violating agreements in a key concession made at the urging of the powerful chairman of the house ways and means committee the trade subcommittee backed off a requirement that would have forced reagan to automatically impose quotas or tariffs on imports from countries that engage in unfair trade practices
a department official said the world market for enriched uranium for reactors for power utilities is increasingly competitive and private entity could better tap it
company is a subsidiary of switzerlands bbc ag brown boveri und cie bbczz
the increase in canadian shipments comes at a time of growing anger in the us over rising steel imports from several countries in the face of a decline among domestic steel producers
morgan guaranty ltd will co lead manage the issue which will be sole in denominations of 10000 francs and be listed in luxembourg
one important reason for this was the bourse turnover tax which was reducing the rate of return to the investors
heinls nursery has sales of about 45 mln dlrs and owns 100 acres of which 75 are in shade houses and about 58300 square feet cover greenhouses shipping and office facilities
shareholders will be able to subscribe for 125 shares for each share held at a price of 375 dlrs per share
barricini foods inc 1st qtr loss
he said balanced foods and greens dairy taken over late last year have a combined annual turnover of 126 mln dlrs which was not included in the 1986 account
of the january total 115 billion stg was advanced on bank credit cards
but british diplomats said their minister giles shaw insists that the profitability of companies should be taken into account
inflation in turkey was 37 pct in march compared with 17 pct in february and 13 pct in march 1986 the state statistics institute said
white house spokesman marlin fitzwater said yesterday we do not want a trade war but we feel that this is the kind of action that requires meaningful action reagans move follows steadily rising us trade deicits with last years hitting a record 1698 billion
jacobs who made his comment in response to an enquiry did not comment further
led by the non residential sector canadian building permits issued in november rose 07 pct to 218 billion dlrs seasonally adjusted from 216 billion dlrs in october statistics canada said
the spokesman also would not comment on speculation that the board was to discuss a sale of securities to the public
shr six cts vs three cts net 152360 vs 94141 revs 4073911 vs 4116333 note international research and development corp is full name of company
a spokeswoman for the office said the production index base 1980 rose to a provisional 1088 in february from a provisional 1027 in january slightly revised from the 1028 originally estimated
payment date is april 15
ciba geigy phillips petroleum in joint venture
portugal which joined the community in january 1986 was estimated at 1275 mln tonnes white equivalent unchanged from the previous forecast and compared with 1241 mln tonnes for 1985 86
net proceeds from the offering will be used to repay debt and to fund its capital expenditure program ramada said
crosby said that tuition levels from the management consulting service companys courses this month are at the highest level in the companys history
cummins said it expects capital expenditures to total about 155 mln dlrs down from 274 mln dlrs the year before
peat marwick kmg main hurdman to complete merger
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
taiwanese investment in the us last year totalled 46 mln dlrs the ministry document said
earlier the company reported 1986 net earnings of 154 mln dlrs or 151 dlrs a share versus 135 mln dlrs or 132 dlrs a share in 1985
nj nicholas jr president and chief operating officer of time inc told security analysts the company is now engaged in talks to join a consortium of cable companies that will invest in cable news network
american can ac sees higher year net
hyponex said proceeds will be used mainly to finance acquisitions of assets and businesses
cable and wireless plc cawll and the pacific telesis group pacn may take part in a proposed merger of two rival firms seeking to enter japans international telecommunications market a senior industry official said
i think if he were to do it again he would do it very differently said one source
aloette cosmetics inc alet 4th qtr dec 31 net
with official arrivals figures for the 1986 87 temporao and main crops totalling over 61 mln bags and over seven weeks still to go to the end of the year the total outturn should be at least a record 65 mln bags if all production is declared the sources said
calny said it retained oppenheimer and co inc to consider various financial and strategic alternatives available to the company
witco corp is raising 140 mln dlrs via an offering of convertible subordinated debentures due 2012 with a 5 1 2 pct coupon and par pricing said lead manager smith barney harris upham and co inc
the company said subject to receipt of all statutory permits finalization of financing arrangements and management and joint venture review construction of a 15000 short ton per day processing facility can start
simex said in a press release that the options contracts would be based on the currency and interest rate futures currently traded on the exchange and be started toward the third quarter simex which is linked to the chicago mercantile exchange currently trades three currency futures on deutsche marks japanese yen and british pounds and two interest rate futures on us treasury bonds and three month eurodollars
venezuela was the leading buyer it said
sri lanka has postponed until november its tender for 75000 tonnes of wheat under the export bonus program originally scheduled for today us exporters said
sources close to the ministry said south african negotiators had worked out a favorable agreement on repayment of 13 billion dlrs of debt after a standstill agreement expires on june 30
liu said news reports about problems concerning panin were unfounded but he did not elaborate
shr 27 cts vs shr 18 cts net 477000 vs 305000
am international said its old division are expected to benefit from recent new product introductions and the decline in the value of the dollar
bread wheat 235800 205700 115500 maize 158400 189000 272700 sorghum 26500 18700 39900 soybean nil nil nil sunflowerseed 1800 18800 nil cumulative figures for april 1 and this calendar year with the previous years figures in brackets are as follows in thousands of tonnes bread wheat 643 445 30744 28514 maize 483 1077 4861 9224 sorghum 51 222 1081 1888 soybean nil nil nil nil sunflowerseed 09 nil 432 nil
it attributed last months rise to several factors including subsidy payments to farmers and government pay raises
ford motor co said it made 189610 us cars in march up from 150520 in the same period last year
raycomm transworld industries inc said it has agreed in principle subject to board approvals to acquire spiridellis consulting group inc a privately held computer services consulting firm for a number of common shares to be determined based on pretax earnings of spiridellis over a five year period
one has to wonder if monier is the main target herbert said csr had no plans to raise its bid and said a higher price would be difficult to justify on fundamentals
in its international weather and crop summary the agency said the moisture lessened the need for irrigation
the companys board held a regularly scheduled meeting today and was discussing the waste management announcement
traders said this is partly due to secondary smelters buying ingots to supplement feed supplies affected by environmental controls which put restrictions on the transport of used batteries
pension insurance group pgai 4th qtr
national computer nlcs sees earnings growth
struthers wells suw sees 1986 nov 30 loss
the government is currently reviewing the oil tax structure
the wheat season begins june 1
el paso electric said it reached a stipulated settlement on its new mexico rates with several parties including the state of the new mexico public service commission which provides for rate treatment of the utilitys investment in the palo verde nuclear generating station located near phoenix ariz
and a
based on the spread between the prime rate and funding costs you would ordinarily see a prime rate increase now said harold nathan economist at wells fargo bank
the company said it bought 33 lots in colorado from richmond homes ltd an mdc unit in return for 650000 dlrs in promissory notes and 440000 dlrs in preferred stock
the unit also has agreed to pay a debt of 400000 dlrs to tarxien company ltd which is 40 pct owned by multi step
fees total 2 1 2 pct with 1 1 2 points for selling and 1 2 each for management and underwriting
on the inflation front all is well he said
shr 16 cts vs two cts net 391000 vs 57000 sales 7917000 vs 7255000 six mths shr 47 cts vs 17 cts net 1164000 vs 422000 sales 279 mln vs 243 mln note full company name is washington scientific industries inc
the bond rose in the first hour of grey market trading to less 7 8 less 5 8 after being quoted at less 1 1 8 less 7 8 in first business
some traders and analysts expect limit declines in nearby contracts with spillover selling likely in cattle
pravda said there were 2838 mln people in the soviet union as of october 1
she said canada us bilateral trade negotiations which must be concluded at least in draft form by october are progressing well
weekly m 2 and m 3 components also hinted at slower overall growth
ec surplus food stocks at january 31 included 128 mln tonnes of butter 520000 tonnes of beef and over 10 mln tonnes of cereals
the average sales price for gas dropped by 60 cents per mcf to 216 dlrs per mcf pennzoil said
blinder international binlc loans 4 mln dlrs
azpurua said the new terms have been telexed to venezuelas 450 creditor banks for acceptance with information on government plans to draw up debt capitalization rules and return to the capital markets
bcw was formed by becor executives and goldman sachs and co both deals are subject to shareholder approval
finance ministry officials were unavailable for immediate comment
telemedia said the magazines founder has agreed to continue to provide editorial and publishing direction for the magazines
la electricidad is seeking permission for a 50 pct rate increase which officials say would bring in an extra 13 billion bolivars this year
securities houses also plan to introduce free competition among underwriters when negotiating with issuers over terms in order to better reflect the market securities managers said
charles andrew an analyst who follows phillips for john s
arango told that the most intelligent thing now would be to seek a unifying stand from producers including brazil in order to map out a strategy to defend prices
grain trade analysts expect a sharp drop in corn acreage with most expecting a more modest decline in soybeans in the us agriculture department usda plantings intentions report due out at 1500 est 2100 gmt the average trade guess for 1987 planted corn acreage was 6606 mln acres ranging from 607 to 690 mln all well below the 7667 mln planted last year due to improved incentives by the usda for farmers to retire acres
its sort of a sausage maker business where you put in place the sausage grinder and the more sausage you can stuff through the more money you make he added
dominion calls burlington bur report rumor
redemption price is 26 dlrs per share the company said
the figures may look mediocre neither good nor bad but set in their context of structural reforms they are excellent develle said
amb said the 500 mln mark drop in bfgs business volume to 501 billion marks affected the interest surplus
a key part of the proposal gave the world bank a much greater role in dealing with the debt crisis in part because of its familiarity with developing countries and their problems
bohn said the bank would focus on the needs of the middle market product or service exporter and would have essentially one loan program and one guarantee program for both medium term and long term export transactions
it will be available in denominations of 1000 and 10000 stg and will be listed in london
he said saudi king fahds remarks last month that increased production was not so important as long as incomes would not be affected by the output were very relevant and welcome from such a powerful producer
shr one cts vs two cts net 50000 vs 58000 revs 467000 vs 760000
kaufman said unlike paul volcker who entered the office of the federal reserve chairman with strong credibility both domestically and internationally mr greenspan will have to demonstrate both his competence and policy independence before he can gain full confidence of the financial markets greenspan is most knowledgeable on the behavior of the us economy while his professional skills in the international area are much more limited kaufman noted
taiwan issues more cds to curb money supply growth
us warns of dependence on foreign oil
congressman says us unprepared for oil cutoff
the average rent payment accepted in the first three signups was 4350 dlrs per acre
turkey oil pipeline near the southern town of adana after it was cut by a landslide the hurriyet and anatolian news agencies said
it said in its latest quarterly review that real gross domestic product averaged an annual growth of 11 pct over the first nine months of last year compared with a decline of 01 pct in the corresponding period in 1985
the landowners will be paid in 10 year bonds redeemable in ten instalments the sources said the bulk of financing would cover development costs for the land program and help to bridge the gap between the 10 year spread of payments to landowners and a proposed 30 year loan repayment period for land buyers
rimmer de vries senior vice president of morgan guaranty trust co said the us trade deficit problem is a problem of lagging growth in industrial economies prolonged currency misalignment debt problems of the developing countries and unbalanced growth in the asian industrializing countries
japan farm reform a key to trimming trade surplus
qtly div 30 cts vs 30 cts prior qtr pay 15 april record 1 april
he will meet uae president sheikh zaid bin sultan al nahayan and oil minister mana said al oteiba
merrill lynch capital markets is co lead manager
first oak brook fobbao 3rd qtr net
there are 12 importing and 44 exporting members of the iso
the central bank purchased outright bank bills comprising 120 mln stg in band one at 10 7 8 pct and 227 mln stg in band two at 10 13 16 pct
travers
like dated interbank deposits were quoted today at 6 3 4 5 8 pct
first bostons analyst was unavailable for comment
treasury secretary james baker said the administration is confident the effect of exchange rate changes will bring about a cut in the trade deficit this year
shr profit one cts vs loss three cts net profit 68607 vs loss 183893 revs 42 mln vs 602665
on february 26 mepc made an agreed bid for oldham based on a formula reflecting its asset value at 30 september 1986
bundesbank sees no reason to change monetary course vice president schlesinger
gobert characterized the market action in dome as awfully optimistic but said investors are hoping for a competing offer to the shareholders
it said shareholders of triangle microwave controlling about 30 pct of the companys stock have agreed to vote in favor of the deal and to give kdi an option to buy their shares under certain components
shr four cts vs three cts net 4505000 vs 4493000 revs 233 mln vs 214 mln
canadians urge exemption from us trade bill
canada details two bond auctions
the traders said there would be 13 mln bales of cotton carryover this fiscal year compared with just over a mln bales last year
malrite guaranteed said it is a limited partnerhip formed to acquire and operate radio and tv stations
it fell about a half yen to around 145
markey said he did not favor banning takeovers but thought the tender offer process needed reform including earlier disclosure of takeover attempts
the filing consists of 100 billion dlrs of senior debt securities and 500 mln dlrs of subordinated debt securities including capital securities
everything seems to be coming to a head right now and you dont need much to get things rolling sloane said
the bundesbanks options for west germany monetary policy are limited for the foreseeable future by the delicate stage of wage negotiations between unions and employers economists and money market dealers said
the fed said it felt there would be no violation of banking laws provided that chase manhattan restricted its commercial paper activities to five pct of its income and five pct of total market share
moodys investors service inc said it may downgrade 200 mln dlrs of debt of harcourt brace jovanovich inc
brazil announced feb
cyacq cuts conditions on cyclops cyl bid
summit tax exempt bond fund sua sets payout
asked if baldrige intended to recommend sanctions sen
it has 11 billion dlrs of debt securities
start up is targeted for third quarter 1987
but he added that the recovery will be slow
during the whole of the season from july 1985 to june 1986 dutch soymeal usage fell 12 pct to 19 mln tonnes from 21 mln the previous season while sunmeal usage rose 25 pct to 408000 tonnes from 325000
shr 57 cts vs 72 cts shr diluted 57 cts vs 66 cts net 2699000 vs 3250000 revs 1908 mln vs 1959 mln six mths shr 45 cts vs 84 cts shr diluted 45 cts vs 79 cts net 2092000 vs 3784000 revs 3042 mln vs 3046 mln note includes a change in accounting for investment tax credit of 1408000 or 31 cts per share in six mths prior
note company floated in april 1986 and is now 5023 pct owned by swire pacific ltd swpchk 1643 pct by hongkong and shanghai banking corp hkbhhk and 125 pct by china international trust and investment corp
goldfield corp gv 4th qtr net loss
rep
the straight bond to be priced at 101625 will carry a 475 pct coupon to yield 4445 pct
lloyds bank canada became canadas largest foreign bank last autumn with its 200 mln canadian dlr acquisition of continental bank of canada
fees are 3 4 pct for selling and 5 8 pct for management and underwriting combined with 1 8 pct praecipium
southmark corp said it will issue its shareholders a special dividend right to acquire 22 shares of american realty trust arb for each 100 shares of southmark they own
haggard said barring any program changes commodity credit corporation ccc soybean stocks now at 385 mln bu will rise to 500 mln by the end of august
onyx earlier reported a 1986 net loss of 106 mln dlrs after a 103 mln dlr writedown on oil and gas property values compared to a 13 mln dlr profit in the prior year
the british petroleum co of australia ltd reported a 1615 mln dlr net loss for 1986 against a 7338 mln dlr profit in 1985 after sales fell to 227 billion dlrs from 294 billion
us dealers said the new york federal reserve bank has intervened in the foreign exchange market today buying dollars against yen
3rd qtr feb 28 shr profit 14 cts vs loss four cts net profit 311994 vs loss 66858 revs 2229273 vs 645753 nine mths shr profit 51 cts vs profit two cts net profit 1126673 vs profit 42718 revs 7277340 vs 1378372
perkin elmer pkn acquires high tech firm
asked by opposition members to clairify finance minister michael wilsons statement on friday that petro canada no longer has any pubilic policy role mulroney said his government has long promised to sell off companies that could be better run by the private sector
however with this bill rate pertaining to three months money banking sources said the market could not take the cut as a guide to the banks intentions on short term rates
terms will be set on april 15 with payment due may 6
shr 46 cts vs 76 cts div 30 cts vs 30 cts prior net 85 mln vs 140 mln note 1987 qtr net is after a 55 mln dlr reserve for a potential refund as a result of the federal communications commissions continuing rate investigation
at the signing in new york last friday finance minister gustavo petricioli sounded a warning to the recalcitrant banks
lets see if we can try to push them usda to do something without legislation glickman told the hearing
dumez unit has 94 pct of westburne wbi 
hepworth ceramic holdings plc hepcl said it had agreed to sell its western plastics corp unit to globe machine manufacturing co for 1625 mln dlrs cash
sanctions have provided a very useful excuse for under achieving
completion of the proposed transaction is subject to approval by the italian government it said
senate democratic leader robert byrd and republican leader bob dole both told the senate reagans decision was long overdue and urged japan to open its markets to us goods and stop dumping on world markets
the committee awarded 123000 tonnes of free market barley export licences at a maximum export refund of 13875 ecus per tonne
in its inter meeting policy directive the february fomc said that somewhat greater reserve restraint would or slightly lesser reserve restraint might be acceptable depending on the behavior of the aggregates taking into account the strength of the business expansion developments in foreign exchange markets progress against inflation and conditions in domestic and international credit markets the february fomc voted nine to one for an unchanged policy
lamson sessions lms drops rail parts operations
norways trade deficit widens in february
monier shares were trading at a 1987 high of 310 dlrs today up from the previous peak of 280 at yesterdays close and well above the 1987 low of 218 dlrs
unlike broker dealers agency brokers do not take positions in the market but the survey showed 68 pct of respondents did not consider this very important when deciding whether to use one
the bank has given the market assistance worth 1503 billion stg today to offset a shortage it estimated at a revised 160 billion
he said the worldwide market for cardiovascualr therapeutic products which includes pacemakers valves catheters and lasers will be valued at about 25 billion dlrs 1990 and will double that by 1995
a change in one mln tonnes in production would alter revenue by about 45 mln stg in 1987 88 and 50 mln stg in a full year it added
the minimum for a current account is 20 yuan equivalent
he told a lower house budget committee in parliament that the bank of japan would continue to cooperate closely with other major nations to stabilize exchange rates
under the program usda pays farmers annual rents to take land out of production for 10 years
however 1987 first quarter production from its mclaughlin reserve will be about 10 pct lower than last years 45400 ounces due to start up production problems
qtly div five cts vs five cts prior pay april 15 record march 30
xuto said in his consultations with representatives of major exporting and importing countries over the last few months i have found a constructive attitude and willingness to be flexible on the part of all concerned it is imperative that we try to settle the major outstanding issues in the course of this week since a considerable amount of technical drafting work will remain to be completed he said he will immediately start consultations with producers and consumers
analysts believe pacific westerns aggressive and cost conscious chairman rhys eyton will develop the true potential of the former cp air which floundered for four decades inside the bureaucracy of conglomerate canadian pacific ltd
previously the department said inventories fell 05 pct in december
imtec inc said some shareholders of computer identics inc cidn have proposed a merger of the two companies
burlington had previously agreed to a 244 billion dlr buyout from morgan stanley group inc ms one dlr per share lower than a sweetened 77 dlr per share bid made by samjens last week
they said an iranian blockade of the strait of hormuz was unlikely because it would block irans oil shipments
us industrial capacity use rate rose to 798 pct in feb from 796 pct in jan
first union func acquisition approved
us house plan seeks to bar foreign takeover
austria treasury note issue likely to be increased
4 will be announced in mid april
morrison inc a diversified food service company said it acquired custom management corp based in kingston penn for an undisclosed amount
asa vice president james adams told an asa sponsored outlook 87 conference it will be filed unless the ec takes drastic and immediate steps these subsidies are blatantly unfair and are gatt illegal since they were established after the zero soybean duty was established in 1962 he said
in the same year ago period goodyear reported a loss of 64 cents a share from continuing operations
de graaf said if the dispute had not ended by today he would withdraw the 10 mln guilder annual labour subsidy to the sector
national westminster bank chief economist david kern said the lower borrowing target set in the budget had increased the likelihood of an early one point base rate cut
note net is after tax paid 4685 mln dlrs vs credit 502 mln interest 12768 mln vs 11719 mln depreciation 10929 mln vs 10073 mln and minorities 150 mln vs loss 331000
closing is expected by may 15
underwriters are levesque beaubien inc and mcleod young weir ltd national bank said the issue is part of a program by canada mortgage and housing introduced late last year which provides investors with high quality securities similar to government bonds but with a higher rate of return
prices had also been forced down because refineries were using up old stock he said
montedison spa monimi has acquired a 70 pct stake in plant cell research institute pcri of california from atlantic richfield co arcn for several tens of millions of dollars a senior montedison executive said
the thrift said the buyer is bac inc a corporation acting for certain unindentified parties
shareholders funds increased to 502 billion dlrs from 477 billion in 1985 the statement said
they are a potent political force the diplomatic source said
metro funding corp said its shareholders approved its merger into maxcom corp and its change of incorporation from nevada to delaware
japans june interim trade surplus narrows
the italian firms spanish subsidiary ferruzzi espana sa took the majority equity stake with the remaining 33 pct retained by guadalco
ongpin sweetened his original offer by guaranteeing that his government would redeem the notes at 7 8 pct over libor if there was no buyer in the secondary market
i think gaf is looking at the company the way were looking at it that its worth more pershing and co analyst richard henderson said
the cpi rose 11 pct from december 1985 to december 1986
qtr ended may 2 oper shr profit three cts vs loss five cts oper net profit 115000 dlrs vs loss 152000 revs 7652000 vs 4279000 six mths oper shr profit ten cts vs loss 34 cts oper net profit 342000 vs loss 1149000 revs 140 mln vs 7398000 note oper data does not include extraordinary gain of 28000 dlrs or one ct per shr in 2nd qtr 1987 or or 118000 dlrs or four cts per shr in six mths
uk money market given further 104 mln stg help
supermac a privately held firm based in mountain view california as is scientific micro reported a net profit of 300000 dlrs on revenue of 95 mln dlrs in fiscal 1986
security pacific is the sixth largest us bank holding company with assets of about 6160 billion dlrs
commerces ruling on monday will reset the duties on the basis of more detailed cost information industry officials said
livestock dairy and poultry producers have been lobbying usda hard to have their products covered by the amnesty provision farm industry sources said
philippine coconut oil exports to europe would be virtually wiped out if the european community ec implements a new tax on vegetable oils philippine coconut authority pca chairman jose romero said
subscriptions close march 18 and payment date is april 2
what the creditor banks are demanding is not the same as what argentina is prepared to concede machinea said
on the budget deficit johnson said meeting precise numerical goals was less important than a continuing commitment toward slowing the growth of federal spending
jan 31 end shr 364 dlrs vs 316 dlrs net 1713 mln vs 1540 mln sales 344 billion vs 323 billion avg shrs 471 mln vs 488 mln year oper shr 623 dlrs vs 588 dlrs oper net 3019 mln vs 2866 mln sales 1051 billion vs 998 billion avg shrs 485 mln vs 488 mln note latest year net excludes 143 mln dlr charge from loss on early debt extinguishment
february fob exports rose to 282 billion dlrs from 274 billion revised from 272 billion in january and 254 billion a year earlier while fob imports fell to 277 billion from 299 billion revised from 301 billion against 270 billion a year earlier the bureau said
on saturday vice premier tian jiyun said china aimed to be self sufficient in grain
the 1986 icca has been in effect since january 1987
it said total crushing capacity for members was 25873904 bushels vs 25873904 last week and 25459238 bushels last year
us projects completed in 1986 included the second acrylic acid plant in freeport texas a technical centre in southfield michigan in which paint lines from automotive plants can be refitted and the new agricultural research centre in research triangle park in durham north carolina
on march 18 of last year the usda reported that cotton farmers in 1986 intended to plant 971 mln acres
shr loss 38 cts vs profit two cts net loss 2254533 vs profit 106621 revs 3430970 vs 4104506
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
the 500 mln dlr credit under the lead management of paris based union de banques arabes et francaises ubaf has a five year maturity and a margin of one percentage point over london interbank offered rates libor banking sources said the agreement now worked out goes some way to meeting creditor bank demands that at least part of the first missing instalment of 7125 mln dlrs be paid and not deferred
china aluminium venture aims at south korea
science dynamics corp sidy year net
hechinger co is raising 125 mln dlrs through an offering of convertible subordinated debentures due 2012 with a 5 1 2 pct coupon and par pricing said sole underwriter morgan stanley and co inc
sept 30 end shr profit 15 cts vs loss six cts net profit 901000 vs loss 368000 assets 115 billion vs 7738 mln
we expect to have the biggest operating backlog in the companys history by june 30 1987 the end of our fiscal year wilkinson said
he said many investors plan to sell their bonds if japanese or us interest rates decline further
in response to questions from the henley spokesman said the filing was as of december 31 1986 but that the company still holds the shares
governor martha seger said she was concerned that japan was not involved in the uk us effort to draft new capital rules
the ldp expects the measures to prop up the economy and lessen trade problems with the us they added
chicago mercantile exchange floor traders and commission house representatives are guesstimating todays hog slaughter at about 295000 to 308000 head versus 305000 week ago and 308000 a year ago
sound warehouse inc swhi 3rd qtr feb 28 net
finance secretary jaime ongpin said philippine investment notes pins to be offered to commercial bank creditors as part of the countrys 132 billion dlr debt rescheduling would revive the baker plan
world bank chief pledges support to indonesia
recent price rises have not altered polish plans wincenty nowicki a deputy director of cukropol the amalgamated sugar industry enterprises said
venezuelas central bank has ordered venezuelan banks and exchange houses to cease foreign exchange operations with brokers based outside the country according to a copy of a central bank telex made available to 
of 2000 mln hectares remaining up to 16 mln are destroyed each year by destructive logging practises and by local farmers
qtly div six cts vs six cts prior pay may eight record april 10
the available tranche will be determined by argyll on an annual basis
it was quoted around the 1 7 8 pct fees at less two less 1 3 4 and was led by morgan guaranty ltd
ccc accepts bonus bid on semolina to egypt
in addition the treasury said it would permit us made goods to be imported temporarily from south african state controlled organizations for repair or servicing
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
chrysler sets three for two stock split raises dividend
the soviet official said that near term corn demand has been met by the recent soviet purchases of us corn which he confirmed at 15 mln tonnes but said that if us corn prices remain competitive the soviets will buy more if they need it
the commodity credit corporation ccc has accepted a bid for an export bonus to cover a sale of 2000 tonnes of semolina to egypt the us agriculture department said
they also discovered that cooking the meat didnt always prevent the disease
today however the pound hardly moved on the reserves news dipping on its trade weighted index against a basket of currencies from 731 pct of its 1975 value at 1000 gmt to 730 pct at 1100 gmt half an hour after the figures were released
this change in accounting practice and another change to account for profits made on fixed interest investments resulted in an incidental rise in net profits of 31 mln guilders
volckers been saying for a long time that a dollar freefall would be extremely dangerous now hes got it said david jones economist at aubrey g
a group of affiliated new york investment firms said they lowered their stake in cyclops corp to 200500 shares or 50 pct of the total outstanding from 260500 shares or 64 pct
earlier the company reported a loss for the fourth quarter ended january 3 of 319 mln dlrs or 76 cts a share compared with a loss of 33 mln dlrs or 21 cts per share in 1985s fourth quarter
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
rose said the borg warner plastics and chemical business which makes thermo plastics is the asset attracting heyman
the indian state trading corp bought one or possibly two 6000 tonne cargoes of malaysian refined bleached deodorised palm olein at its vegetable oil import tender today for mar 15 apr 15 shipment at 355 dlrs per tonne cif traders said
entertainment marketing tops crazy eddie offer
baird in turn agreed not to take any defensive measures without giving mark iv at least 24 hours notice it said
the issue which is guaranteed by bremer landesbank kreditanstalt is available in denominations of 1000 dlrs and will be listed in luxembourg
shr 94 cts vs 77 cts net 21 mln vs 17 mln revs 78 mln vs 88 mln noteper share data reflects elimination of 500000 shares owned by 50 pct owned subsidiary and reflect one for three reverse stock split effective march 5 1986
peru begins foreign exchange rationing
cri insured mortgage investments lp crm payout
they recommend taking profits
silver state mining corp said it has corrected its 1986 fourth quarter net income to 485380 dlrs from 528790 dlrs reported earlier today
it makes sense said james parker of robinson humphrey
trump also agreed to pay 135 dlrs a share for the remaining class b shares outstanding
el paso electric said the agreement allows recovery in its new mexico rates of lease payments in connection with the utilitys 1986 sale and leaseback of its investment in palo verde unit two to the extent of the book value sold
the notes were given a 10 1 2 pct coupon and par pricing
ual will change its name to allegis at its annual meeting
century said community cable is located in san juan puerto rico
robusta coffee beans for may delivery ended the day in london down about 50 sterling at 1265 sterling a tonne the lowest since 1982
they said stocks could fall between 700000 and three mln barrels
the company said its new posted price for west texas intermediate and west texas sour is 19 dlrs a barrel while light louisiana sweet is now 1935
he told reporters 1987 has started well for cathay pacific airways which looks forward to another good year swire properties expects further good results both from properties under development for sale and from its investment property portfolio he did not give any specific projections for earnings
of this amount it said about 47 mln dlrs would be available for distribution to the companys banks debenture holders and shareholders
union pacific said employees of the refinery would be transfered to the new company and would retain the same benefits as in the past
bayou said it will also receive two seats on solmecs board
lawson calls intervention proof of stability goal
shell francaise returns to profit in 1986
interest will be payable march 15 and september 15 beginning september 15 1987
for this five month period ecuador did not exercise its right to produce 221000 bpd he said
exxon said economies introduced in its operations from reductions in personnel and other savings such as reductions in exploration expenses were reflected in an 880 mln dlr reduction in consolidated operating costs from 1985
exports remain behind year ago and warehouses in producer nations are becoming increasingly overburdened said sandra kaul coffee analyst for shearson lehman in that firms forthcoming quarterly coffee report
ivorian agriculture minister denis bra kanon chairman of the icco council was now expected to arrive in london monday to attend the talks baron said
soros lifts king world kwp stake to 81 pct
high water extends rhine river blockage
ecuador signs 280 mln dlr iadb loan
triton energy corp said its 70 pct owned canadian worldwide energy ltd affiliates lasmo et al tableland 4 36 2 10w2 well in saskatchewan flowed 567 barrels of 37 degree gravity oil through a 17 64 inch choke from depths of 8531 to 8548 feet and 636 barrels of oil per day through a 20 64 inch choke from depths of 8500 to 8507 feet
total shut a 12 inch line that runs across the ouachita river from wynnewood to ardmore with a capacity of 62000 bpd as well as several smaller pipelines a few inches wide with capacities of several thousand bpd or less zollinger said
investor group cuts dba systems dbas stake
de croo here for talks with administration officials and congressmen said if a textile bill passed the only way we could react would be retaliation and it would cause more retaliation which is not a good way to deal with problems he said if a textile bill was enacted we will impose taxes on a lot of american products he said it would be stupid
a spokesman at manufacturers hanover noted that of 23 billion dlrs in loan exposure to brazil only 13 billion is subject to brazils unilateral moratorium on repayment of interest
but broad money will continue to be taken into account in assessing monetary conditions as of course will the exchange rate the chancellor told parliament
on a current prices basis gdp was up 11 pct totalling 894362 billion lire in 1986 against 805754 billion in 1985
year on year retail sales rose 53 pct compared with a 96 pct increase in the year earlier period
he added that it would also put pdvsa in a position to purchase more government debt bonds
this has resulted in a hardening of freight rates in those areas
it said holders of the contingent payment units will be entitled to receive annual payments to the extent that the predepreciation gross profits of triangle microwave in each of the years 1987 through 1991 exceed threshholds ranging from eight mln dlrs in 1987 to 14 mln dlrs in 1991
but most economists see room for a cut in west german rates only in the first half of the year as re emerging inflation will limit room for manoeuvre later in the year
it said it expects to produce saleable ore from the mine before year end
it had fallen four pct against the canadian dollar
dresdner bank ag drsdf and commerzbank ag cbkgf have initiated similar moves
georgia gulf corp gglfo 3rd qtr net
metropolitan financial corp mfc votes payout
this was a concerted action
personally i think its an illusion
iraq rejected its opec quota of 1466 mln bpd and produced 175 mln bpd in february and early march the figures showed
a royal insurance plc unit is raising 300 mln marks via a five year bullet eurobond with a 5 1 2 pct coupon priced at par sole lead manager commerzbank ag said
the issue is available in denominations of 5000 dlrs
the central bank has issued 53 billion taiwan dlrs of certificates of deposits cds boosting cd issues so far this year to 14042 billion compared with 16 billion issued in the same 1986 period
on a personal level conable said that he not feel a need to put his personal stamp on the bank noting that i dont have a particular mission here except to be useful to the institution and to the process of development he added so i dont feel a great calling to personalize the institution on the development needs of sub sahara africa conable said that the bank was constantly reviewing new ways for assisting the region noting that half of the recently agreed financing of 124 billion dlrs for banks international development association was earmarked for africa
while frn specialists noted that paper on which coupons are shortly due to be refixed had managed to hold up today as had notes paying a relatively higher margin longer term frns were still subject to intense selling pressure
fall in canadian budget deficit to slow
but komatsu said the move will pay off in time
it said it will improve throughput to 700 tons a day at 0221 ounce of gold per ton
another eni subsidiary agip carbone will sign a letter of intent in caracas tomorrow to enter a partnership with pdvsa to mine the coal deposits at guasare in western zulia state he said
we expect higher prices for our oil exports this year he added
and accrued interest on the 40 pct will be waived as long as the first tranche is met in full
growers in the past week discovered more empty soybean pods in the main producing areas of southern cordoba and santa fe provinces and northern buenos aires
it noted the sale to newly formed bearing acquisition was announced may 18
there is a possibility that the dollar may decline to around 14000 yen by the end of this year said chemical bank tokyo branch vice president yukuo takahashi
the dollar firmed slightly from its opening 18135 45 marks in very quiet pre weekend trading and dealers said they expected business to remain thin this afternoon
we remain optimistic about the prospects for both the industry and ibm he said
these factors and south africas unstable political situation which may lead to a temporary reduction in gold supplies from that country underline the firmer sentiment it said
tax 186 mln vs 184 mln making 552 mln vs 547 mln
a semi government body imports most of this and releases it to wholesalers or processors in line with the standard price of other beef categories in an attempt to avoid jeoparadising domestic beef prices they said
the fed said that business loans including acceptances fell 546 mln dlrs to 27812 billion dlrs
shr loss 13 cts vs loss one ct net loss 18600000 vs profit 3300000 revs 3940 mln vs 3510 mln year shr loss 21 cts vs loss 16 cts net loss 23300000 vs profit 3900000 revs 136 billion vs 129 billion note current yr loss includes reorganization charge of 152 mln dlrs vs yr ago reorganization charge of 176 mln dlrs
the government now imposes a 15 pct tax on physical trades exceeding 37500 yen for gold jewellery and coins and a 25 yen tax per 10000 yen on futures transactions gold dealers said
original capital cost of the mine was 575 mln dlrs but came in at 515 mln dlrs the company said
the agreement replaced a february 1986 rescheduling accord which venezuela asked banks to revise citing a 40 pct drop in oil revenues last year
wickes shareholders will also have the option of taking one cityquest share or 205p in loan notes for every 205p of the cash consideration
att t chairman says dividend will not be cut
baird said the us district court in boston has denied mark ivs application for a temporary restraining order to prevent enforcement of the massachusetts takeover law
both sides raised their bids over the weekend
american hoechst corp year net
included in the sale were chemetron railway products true temper railway appliances inc and allegheny axle co the company said
oper shr 118 dlrs vs 58 cts oper net 2266000 vs 1037000 revs 458 mln vs 414 mln avg shrs 1924000 vs 1800000 note excludes gain of 73000 dlrs vs 290000 dlrs from benefit of tax loss carryforward
maoist guerrillas using dynamite derailed two locomotives and four train wagons interrupting traffic on perus sole railway line linking the capital to the central andes where most of the countrys mining centres are located authorities said
inter regional financial ifg 3rd qtr oper net
federal and alberta goverment aid measures helped cushion the industry downturn in 1986 and are improving 1987 results
cpc cpc to sell unit to hi port hipt 
annual div 11 cts vs 10 cts prior pay april 24 record march 31
calmon estimated stocks as of january 1 at 18 mln bags of which 50 mln have already been sold for export
petrosurance specializes in property and casualty insurance for the oil industry
hes a very satisfied shareholder right now
therefore the g 7 countries welcomed miyazawas presentation of plans for a supplemental budget to stimulate domestic demand
last month keppel reported a group net profit of 51 mln singapore dlrs for the year ended december 31 1986 against a loss of 1296 mln dlrs in 1985
finance minister edouard balladur said he was maintaining his 25 pct inflation target for 1987 after the announcement earlier today of a 34 pct year on year rise in retail prices for february
they expect the 1987 after tax profits of oversea chinese and united overseas to show stable growth of four to eight pct against respective gains of four and seven pct in 1986
shad said insider trading cases involved only 10 pct or less of sec enforcement actions in recent years but they have increased significantly to 125 cases brought during the past five years compared to 77 cases in the preceeding 47 years
the jardine group has nearly completed its reorganisation with jardine matheson transferring its control of hk land to the new unit jardine strategic holdings ltd jardine strategic will also hold majority stakes in the two companies spun off from hk land mandarin oriental international ltd and dairy farm international holdings ltd plus cross holdings with jardine matheson
masse said the program will probably generate new employment equivalent to 20000 people working for a year
he declined to comment on meetings this week in new york between public finances director jorge marcano and venezuelas 13 bank advisory committee except to say they are progressing azpurua said venezuela has shown solidarity with brazils decision to suspend payments but each country must negotiate according to its own interest
i would like to underwrite a deal a day
issue price is 9716 pct
perus foreign debt obligation this year totaled 63 billion dlrs including maturities falling due and overdue payments equivalent to almost twice its expected exports of goods and services central bank president leonel figueroa said
the food and grocery products company also said it was the subject of five stockholder lawsuits and one class action suit filed last november and december in delaware new york and new jersey
the seasonally adjusted volume index base 1980 a guide to underlying non oil trade showed exports rising to 1310 from 1146 in january and imports rising to 1422 from 1365 the value of british oil exports in february rose to 751 mln stg from 723 mln in jnauary while oil imports rose to 425 mln from 352 mln
proceeds from the offering will repay the companys debt and will be used for general corporate purposes
wavehill international to make acquisition
a central illinois processor is only making about 30 cents for every bushel of soybeans crushed at current prices down sharply from levels just seen just a few weeks ago and below the average cost of production cash dealers said
no doubt there was some damage
the agency noted in its final order that psa operates exclusively in the west and mexico while usair serves the west for the most part with some long haul flights from the east and midwest
jan 31 end shr 45 cts vs 37 cts net 8349000 vs 6187000 sales 1267 mln vs 1037 mln year shr 155 dlrs vs 129 dlrs net 281 mln vs 211 mln sales 4859 mln vs 3889 mln note latest year net includes three cts shr gain from sale of assets
this meant that a full blown meeting of the group of seven was in progress
the icc had ordered the holding company to divest one or the other railroad but stayed its ruling pending a decision on the request for reconsideration
proceeds will be used for general working capital and the anticipated domestic and foreign expansion of avnets businesses the company said
it said it will open about 50 super stores this year
affirmed were florida nationals commercial paper at prime 2 and the units short term deposits at prime 1
soviet industrial output in the first quarter of this year grew by 25 pct compared with the first three months of 1986 tass news agency reported
atlantic southeast airlines inc reported an 111 pct increase of revenue passenger miles during february 1987 from a year ago the same period
for all of fiscal 1986 it earned 5769000 dlrs
said
meanwhile the state iron company ferrominera saw its profits rise from 156 mln bolivars in 1985 to 204 mln bolivars last year
the debentures are convertible into the companys common stock at 3625 dlrs per share representing a premium of 2775 pct over the stock price when terms on the debt were set
they said ministers agreed that the eurofer plan should be expanded and developed through meetings among the industry body the commission and representatives of member states
bfi communications systems inc 4th qtr loss
in the uk a proposed inland revenue ruling would affect the tax treatment of certain types of loans many of which are made to latin american countries
scan graphics captive venture capital merge
the world bank said it approved a 974 mln dlr loan for china to help boost fertilizer output in order to increase agricultural production
crushings in 1985 86 at 1053 vs 1053 last month
but vice economic minister wang chien shien said last month that he still does not expect taiwans trade surplus with the us will fall in 1987
herrington said such a plan would cost 200 mln dlrs a year
the one mln tonne upward revision in 1986 87 wheat production reflects several minor adjustments
periods end january 31 1987 and 1986 shr 12 cts vs nine cts net 507000 vs 362000 revs 5010000 vs 3558000 note system software associates inc is full name of company
northwest aluminum president brett wilcox who leased the 30 year old smelter from martin marietta corp said production would increase from around 45 tons a year at present to just over 70 tons
moodys downgrades texas air affirms the eastern air lines unit
it said certificates representing additional shares will be distributed as soon as possible after april 10
enrollment in usdas basic acreage reduction program will likely total close to 90 pct agricultural stabilization and conservation service ascs officials said with 50 to 70 pct of the enrolling farmers also expected to sign up for the paid land diversion program
the offer will be followed by a merger in which each remaining share will be converted into 1975 dlrs cash and 5425 dlrs principal amount of av holdings junior subordinated discount debentures
sourrouille told reporters that 915 pct of the 195 billion dlr loan which forms the core of the package has been subscribed
yeutter emphasized the importance of the new multilateral trade negotiating round and called on congress to quickly approve an extension of us negotiating authority
german research institute lowers growth forecast
the federal reserve board has a 50 pct margin requirement for purchasing stock but proxmire said it is not generally enforced in hostile takeovers
holden brown said allied lyons share price to corporate earnings ratio is now comparable with other leading companies in the food and beverage industry
artillery shells from an exchange of fire between iran and iraq fell on kuwaits northern border on tuesday but caused no casualties the kuwait news agency kuna said quoting a defense ministry official
the private tender offer closes on april 16 while a 12 mln franc advertising campaign for the flotation begins on sunday
shr 55 cts vs na net 2512000 vs 773000 year net 7123000 vs 3098000 assets 4177 mln vs 2511 mln deposits 3294 mln vs 2301 mln loans net 3661 mln vs 2052 mln note some per shr amounts not available as company converted to public ownership in july 1986
fourth quarter exports fell to 622000 tonnes from 909000 tonnes a year earlier but this was because cuba was destocking at the end of 1985 they added
the ec tariffs which would involve renouncing obligations entered into with the world trade body gatt would be designed to stop a diversion of exports to the ec market from that of the us the diplomats were meeting as tokyo announced that the ecs trade deficit with japan reached a record 213 billion dlrs in march up from 194 billion in february
dealers said a reviving trade dispute between washington and tokyo and growing sentiment that the dollar would have to fall further to narrow the obstinate us trade deficit were behind the weakness
profits from the us accounted for 39 pct of the total
brazil soybean yields seen average usda report
lyphomed inc lmed offering of 70 mln dlrs of convertible subordinated debentures due march 15 2012 through alex
two months of strikes in the sector began on january 19 in protest at employers proposals for 350 redundancies from the 4000 strong workforce this year
alleghney international ag faces added count
la roche of north kingstown ri said he is offering to purchase 170000 common shares of neco enterprises inc at 26 dlrs each
taiwan passed on its tender overnight for 25000 tonnes of us corn and 49000 tonnes us sorghum private export sources said
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
liberty said the acquisition of its unit liberty savings bank by equimark corp will result in the bank operating as a separate wholly owned unit of equimark
conable said the decline in world oil prices and the rise in the value of the japanese yen had increased the ratio by reducing indonesian exports and raising its debt repayments
national hmo corp nhmo 2nd qtr jan 31
honduras authorized to buy pl 480 commodities
news of the week long visit starting april 29 coincided with news that japan recorded a 814 billion dlr trade surplus last month more than 70 pct higher than a year earlier
the underwriting syndicate is likely to accept the proposed terms immediately the sources said
rainbow announced earlier that it had increased its stake in progressive to 52 pct from 44 pct through the purchase of 94 mln shares at between 380 and 480 nz dlrs per share
dollar trades at post war low of 13950 yen in tokyo brokers
france announces 105 billion franc t bill auction
it said that on that date it will deposit with an escrow agent 2888 mln dlrs in cash 667 mln dlrs in notes and 31 mln shares of its common for distribution
others said cooperation between central banks and governments was easier said than done
if that is the price we have to pay to make the agreement succeed we are ready opec is not changing its price level of 18 dlrs the groups president said
the proposal initiated by the us was withdrawn last night setting the stage for compromise
china does not publish gold production figures
the yield on the bills for sale to banks and securities houses from money houses will be 39505 pct against the 39375 pct discount rate on one month commercial bills and the 450 37 pct yield on one month certificates of deposit today
wedge stressed that it has no current plans to seek control of ami but refused to rule out a takeover try in the future
christians said deutsche used the extraordinary earnings from flick to pay a record five mark bonus on top of its unchanged 12 mark dividend
if it hadnt been for him the world would look a lot different now he said
the three locals cover about 2600 production and maintenance workers at comincos trail smelter and kimberley bc lead zinc mine
hayes albion corp said it has delayed the special meeting at which shareholders will vote on its merger into harvard industries inc hava until march 24 from march 17 due to a delay in securities and exchange commission clearance of proxy materials
altex aii sets acquisition of computer firms
galileo electro optics corp said estimated earnings for the second quarter ended march 31 1987 will be over current analysts estimates of 40 cts to 45 cts per share
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
clorox co said henkel kgaa of dusseldorf west germany agreed to increase its holdings in clorox to 30 pct from the current level of 23 pct
the new relief will apply to fields outside the southern basin for which development consent is first given on or after today and will improve the post tax economics of new developments and encourage companies to proceed with project which might have been delayed it said
outboard marine corp is raising 100 mln dlrs via an offering of sinking fund debentures due 2017 yielding 915 pct said lead manager salomon brothers inc
monthly corn shipments out of yugoslavia have averaged around 160000 tonnes since october 1 higher than earlier estimates of 150000 the official said
akers was most encouraging said painewebbers smith
cross boosts frost and sullivan frsl holdings
holders of hughes would get 08 share of baker for each hughes share
the paper said that regulatory authorities recognize that such arrangements netting may in certain circumstances reduce credit risk furthermore the paper said if a netting agreement could be reached that would withstand legal tests it might be willing to reduce capital requirements accordingly
the federal reserve entered the us government securities market to arrange 15 billion dlrs of customer repurchase agreements a fed spokesman said
however industry sources estimate output at about 65 tonnes a year with exports put between 11 and 31 tonnes
the finance department said it will sell 500 mln dlrs of three year 3 1 2 month bonds to primary distributors in a previously announced auction march 31
van ommeren will shortly open an office in singapore and expand its facilities in houston to establish the gas container network
dart said despite such management payments it agreed to discuss all aspects of its offer and in fact did try to negotiate a transaction at the march 18 meeting with sgl
to some however the need for added capital is puzzling
payment will be in cash on completion except for three mln stg payable on december 1 1988
jp industries recently completed the acquisition of clevites engine parts division
gencorp inc said that because it is continuing to evaluate general acquisition incs tender offer it has fixed april 3 subject to further extension as the date the rights to purchase preferred shares will trade separately from the common stock as a result of the tender offer
this weeks yield was 695 pct compared with the previous weeks 690 pct
of those responding 70 pct were encouraged to deal more actively 25 pct which saw no change and five pct dealt less actively
the eia said residual fuel stocks fell 22 mln barrels to 379 mln barrels and crude oil stocks in the strategic petroleum reserve spr were up 700000 barrels to 5165 mln
novacor inc a unit of nova an alberta corp said it would raise prices for us customers by five cts a pound on linear low density and low density polyethylene effective april 1
it said the notes will be offered in book entry form by a selling group managed by sallie mae in denominations of 10000 dlrs and 5000 dlrs increments thereafter
cocoa talks slow at crucial stage delegates
carolin mines crlnf has new assay results
about 30 pct of argosystems business comes from international customers
last week a wide sell off of dollar and sterling boosted demand for mark and guilder paper
omar said government revenue in 1987 88 would total 39 billion pounds
the adb said it approved 24 mln dlrs to support an agricultural credit project in nepal
these shares carry one one hundredth the voting power of the class b shares
the bond for westlbs westlb finance nv subsidiary also will have an additional co manager to the 20 already accepted into the deal westlb said
sierra spring water co wtr 4th qtr loss
chinkuli added that zambia was setting up an irrigation fund with canadian aid to lessen the effects of poor rainfall
brazil seeks to reassure banks on debt suspension
the repurchase agreement yields compare with the 40625 pct one month commercial bill discount rate today and the 450 43 pct rate on one month certificates of deposit
minstar inc said it sold all 10 mln of its borg warner shares
the banks assessment of the appropriateness of a banks lead underwriting activity will depend primarily upon the skill and experience of the lead underwriter in the particular market concerned the banks proposal said
debt solution requires open markets german banker
shr profit 14 cts vs loss 17 cts net profit 686000 vs loss 831000 revs 242 mln vs 15 mln six mths shr profit 22 cts vs loss 17 cts net profit 1062000 vs loss 812000 revs 425 mln vs 29 mln note quarter ends january 31
the estimates on the street narrow it down to between 110 mln dlrs and 130 mln dlrs harlow added
the coupon on the 25 mln dlr equity warrant eurobond for keihanshin real estate co ltd has been set at 2 1 8 pct compared with the 2 1 4 pct indication lead manager daiwa europe ltd said
a possibility of renewed inflation remains of concern both in the markets and within the federal reserve he said in remarks prepared for delivery to a group of business leaders here
i think theyll probably try to hang onto encor as long as they can said bache securities inc analyst doug weber
the source predicted national amusements controlled by investor sumner redstone would need half a year to complete a tender offer because of the regulatory approvals that must accompany any change in control of viacoms broadcast licenses and cable television franchises
the purchase price of the outstanding shares is about 86 mln dlrs
american express also declared a two for one stock split and raised its quarterly dividend to 38 cts per share from 36 cts on a pre split basis
in west germany recent price rises have not altered plans since planting decisions were taken a few months ago industry sources said
de groote said that regardless of the outcome of the proposed tricil acquisition laidlaw will decide within the next 30 days whether to stay in the north american chemical waste business through gsx corp
poor loan demand was illustrated by a rise in commercial bank reserves the official said
new dutch special advances announced at 53 pct
pacific southwest airlines said it reached an agreement with the southwest crew controllers association needed to satisfy conditions of usair groups u proposed acquisition of psa
italys ferruzzi spa has taken a 67 pct stake in spanish sunflower seed and cotton mill cooperativa agricola del guadalete sa guadalco sources at guadalco said
final terms on the issue will be fixed by march 16
however the agency said it would also consider depressed industry conditions and wainocos ability to operate in that environment
the gathering was the first such discussion since the second major realignment of ems parities within nine months in january
harry mullikin chairman and chief executive of uals westin hotel unit has been elected to the additional post of chairman and chief executive of hilton international
the amount of a eurobond issued yesterday by walt disney co ltd has been raised to 75 mln australian dlrs from an original 60 mln lead manager warburg securities said
durkin was re elected to the board the company said
private exporters reported sales of 150000 tonnes of barley to saudi arabia for delivery in the 1987 88 season the us agriculture deapartment said
imperial ica declares first div since 1981
oil generates about two thirds of ecuadors total exports and as much as 60 per cent of the governments revenues
federal realty issues 75 mln dlr convertible bond
toronto dominion banks 20 billion yen of 4 5 8 pct euroyen bonds due 1992
japans state export import bank last month agreed to provide around 900 mln dlrs in untied credits to help indonesia pay for its share of 21 world bank development projects
coupon cut on bank of tokyo dollar convertible
however before the talks began tanjug said the agreement should cover 16 billion dollars of debt due this year and 35 billion due in 1988
teikoku launches 40 mln swiss franc notes
not that long ago maybe even just six months ago these two airlines were totally fiscally irresponsible
medar inc said it changed the end of its fiscal year to december 31 from march 31
today usair rejected icahns 52 dlr per share offer and said the bid was a last minute effort to interfere in its takeover of piedmont
oper shr loss three cts vs loss one ct oper net loss 1796000 vs loss 381000 revs 2501000 vs 2695000 six mths oper shr loss eight cts vs loss four cts oper net loss 3235000 vs loss 1123000 revs 4850000 vs 4551000 note 1987 net excludes 2nd qtr extraordinary gain of 87 mln dlrs or 154 dlrs shr from sale of 51 pct stake of mascot gold mines ltd msgto full name royex gold mining corp
strikes by brazils 40000 seamen and by petrol station owners in four states are causing major headaches to a government already wrestling with a debt crisis
the spokesman said that under current regulations the ec would have to accept all the offers if there were no technical problems
is a serious blow to the cooperative system
the effect of these sacrifices meant that market stability though restored to a good level was still under pressure al wattari said
he said ico quota talks broke down last month because consumer members lack the political will to fully support commodity agreements and because consumers tried to dictate to producers
but wall street has given little credibility to icahns offer which lacked financing and was riddled with contingencies
republic american rawco ups buckeye bpl stake
ina would invest about 85 mln dlrs in prospecting in the gabes area
meanwhile stoltenberg is dealing with a local political row which has turned into the countrys worst political scandal
this is not an unsuccessful operation but weve had more bickering than ever one senior banker commented
the cut backs in japanese production are expected to benefit us chip makers
farm program changes outlined by usda official
nui corp said it is studying the feasibility of spinning off nonutility subsidiaries to shareholders
payment date is also march 25
charles stenholm d tex may be planning to introduce a bill to restrict 0 92 to only 1987 crop wheat with the argument that now is not the time to vote in favor of any major changes in the farm bill
the banks first quarter provision for loan losses rose to 1720 mln dlrs from 1520 mln dlrs in the prior year
steel production rose 13 pct to 1696000 short tons in the week ended march 28 from 1675000 short tons the american iron and steel institute reported production so far this year was 18810000 tons adjusted off 146 pct from 22016000 tons produced by the nations mills a year ago
it said it expects sales and profits for fiscal 1987 however to exceed those of 1986
the bonds guaranteed by the republic of france carry a put and call option at par on the interest payment date in 1990
winter kill has probably affected west german winter barley and rapeseed to an above average degree this season west german grain trader alfred c
chicago mercantile exchange floor traders and commission house representatives are guesstimating todays hog slaughter at about 285000 to 300000 head versus 292000 week ago and 309000 a year ago
japanese crushers bought 8000 tonnes of canadian rapeseed in export business overnight for april shipment trade sources said
120000 dlrs in matching funds will be provided to the meat board for use in the development of a better market for processed meats
these dollar denominated notes would be sold by banks at a discount to multi national firms which would then convert them at face value with the central bank thus receiving subsidized pesos for use in funding government approved investments
japan cannot bear a further rise of the yen foreign minister tadashi kuranari said
the board of directors of the california based baker had approved the merger
icebreaker assistance to reach ventspils harbour is needed for normal steel vessels without special reinforcement against ice the report said
crime control inc 4th qtr net loss
us consumer prices as measured by the consumer price index for all urban consumers rose a seasonally adjusted 04 pct in february after a 07 pct january gain
the debentures are convertible into the companys common stock at 51875 dlrs per share representing a premium of 25 pct over the stock price when terms on the debt were set
world market price for upland cotton usda
at 14 dlrs a share phillips is priced closer to the actual price of oil he added
we carried out the operation that was decided upon and we carried it out with enthusiasm and i think it was professionally and well done crowe said
the second provision was that non icco member cocoa could comprise a maximum 10 pct of the buffer stock while the third laid out a pricing system under which the buffer stock manager would pay differentials for different grades of cocoa to be set by a formula the delegates said
it said the shell canada 7500 barrel per day oil sands project will be built on shells oil sand lease about 40 miles north of fort mcmurray in the athabasca region of northern alberta
this struggle between the companies and opec is the ultimate game of chicken but it will be resolved relatively soon
borg warner bor tells of talks with jacobs
union planters corp said it has received regulatory approvals for its previously announced acquisitions of borc financial corp and first citizens bank of hohenwald and approval of its acquisition of merchants state holding co is expected within 10 days
ibc production director oripes gomes said in the statement that payment would be made within the official guarantee prices
the world bank today approved a 40 million mln dlr loan to assist an economic reform program under way in haiti
other than the commission releasing no sugar for export the likely tonnage is expected to be very small the london traders said while the french sources declined to estimate volume in view of the psychological impact of the planned sales into intervention in protest against ec export policies
div 50 won vs 50 won net profit 691 billion won vs 610 billion sales 42754 billion vs 38017 billion note company has set 1987 sales target of 4800 billion won
the rise in third quarter minerals net to 957 mln dlrs from 815 mln a year earlier largely reflected the increase in ownership of the mt newman iron ore project it said
shr profit four cts vs loss two cts net profit 247970 vs loss 57341 revs 2393622 vs 2627612 avg shrs 5958423 vs 2440100 year shr profit 71 cts vs loss 35 cts net profit 3213310 vs loss 849180 revs 14571434 vs 9099767 avg shrs 6177666 vs 2440083 note 1986 earnings include a loss from carryforward of investment tax credits of 85000 dlrs in the quarter and a gain of 250000 dlrs or four cts a share for the year
treasury secretary james baker and federal reserve board chairman paul volcker have told house leaders they were optimistic their debt strategy would work but acknowledged the crisis could take a sharp turn for the worse congressional sources and us officials said
the production figures include neutral zone output but not sales from floating storage which are generally considered part of a countrys output for opec purposes
s p upgrades consumers powers senior and subordinated debt
the brazilian coffee institute ibc is unlikely to disclose its future export policy until the end of next week at the earliest trade sources said
it said the entire purchase price will be payable over a three year period and based on a percentage of pre tax earnings of the acquired operation
eis managing director stig larsson said the deal would allow eis to concentrate on voice and data communication products
jim nugent told 
in february last year the index stood at 1095
lower personal wealth from lower stock prices and fears of further falls should dampen credit growth curbing inflationary pressures and import demand in the us they say
securities and exchange commission chairman john shad said the sec favors shortening the current 10 day period for disclosing takeover attempts but opposes putting restrictions on the use of so called junk bonds
call money fell to 390 40 pct after the move
twa also said that by order of the federal court in pittsburgh it is temporarily barred from buying additional shares of usair pending a hearing march 23 to reconsider usairs application to expand the temporary restraining order to a preliminary injunction
us conservation signup seen 10 to 12 mln acres
the usdas forecast of an 1165 mln tonne maize crop in 1987 88 against 1148 mln in 1986 87 while again premature was not out of line with estimates of the french maize producers association agpm an agpm official said
banking sources said one option was to privately place the bonds through the caracas based banco de venezuela which would underwrite the issue but marcano said no decision has yet been made
the pipeline that carries all ecuadors oil exports was ruptured in the march 5 tremor and will take some five months to repair at a cost of about 150 mln dlrs to repair
dealers said the market was switch and straddle bound in that any pressure on one particular month was certain to be reflected in adjacent deliveries
he confirmed delegate reports that the buffer stock manager will trade cocoa by means of an offer system and according to fixed differentials for cocoa from different origins
new jersey resources corp said it has filed for an offering of 1300000 common shares through underwriters led by merrill lynch and co inc mer and ef hutton group inc efh it said the offering is expected to be completed in late march or early april and proceeds will be used to reduce short term debt
galactic said under the prior accounting policy the summitville mine expenses would have been amortized over the life of the mine and charged against future earnings
a year earlier the figure was 28763
sears total apparel sales was up only modestly but even a modest improvement in apparel is a very good accomplishment due to the fact that most people will buy apparel in april said cj lawrence analysts harry mortner
the testimony by amstutz and gao senior associate director brian crowley comes as congressional budget committees intensify their efforts to pinpoint ways to cut the federal budget deficit including considering limits on the use of pik certificates
standard and poors corp said it cut to bbb plus from a minus data general corps 184 mln dlrs of senior debt
sarlen salnu completes private placement
german long term capital inflow slumps in february
good rains of one to four inches in the past 10 days have boosted moisture stressed sugar cane crops in the mackay burdekin region of queenslands central coast an australian sugar producers association spokesman said
they will be underwriting six mln dlrs each instead of 10 mln dlrs
miyazawa says us likely to intervene
qtly div 10 cts vs 10 cts pay april 30 record april 10
he said some progress had been made
a statement released by ost after a meeting of chancellor helmut kohl and senior government officials with the council said the experts believed 1987 ecomomic growth of 1 1 2 to two pct was achievable
emco ltd said the board approved a public offering of 750 mln dlrs principal amount of 7 1 4 pct convertible subordinated debentures maturing april 30 2002 subject to regulatory approvals
shr four cts vs four cts prior qtr pay may five record april 15
government cash balances rose 26 mln dlrs to 265 billion dlrs in week ended june 17
wallin said he sees medtronics share of the total worldwide pacemaker market increasing to 42 pct in fiscal 1988 from 40 pct in fiscal 1987
members of the three exchanges have been consulted agricultural futures exchange secretary bill englebright told and no objections have been raised to the merger
it will buy back the debentures at 105286 dlrs for each 1000 dlr principal amount including interest digital said
shr 52 cts vs 62 cts net 10884000 vs 12891000 revs 1333 mln vs 1288 mln avg shrs 21017000 vs 20845000
agriculture would expand significantly if favourable weather continued and farmers responded to producer price rises announced in february the minister added
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
my guess is the commission will decide in three to six weeks whether to reopen hearings fischer said
we are also expecting to be in the black in the first quarter 1987 heminghaus added
the three research groups of kiel hamburg and essen predicted in the institutes joint spring report that gross national product gnp would rise by two pct in 1987 compared with 24 pct in 1986
eighty octane petrol increases to 90 sucres from 50
commonwealth mortgage cma sets payout
western security bank 4th qtr net
the company said the negotiations would determine the terms under which the ccr board of directors could support the intercep tender offer it gave no further details
dutch economic growth is slowing as a firming guilder cuts competitiveness abroad and industries reduce the pace of investment the dutch official planning agency cpb said
saitama bank issues 100 mln sfr convertible
bonn officials have said they expect exports to pick up during the year but could still fall below the 1986 level
qtly div 15 cts vs 15 cts prior pay may 11 record march 31
international cocoa organizations icco council chairman denis bra kanon continued work towards a compromise plan on how the icco buffer stock should buy cocoa consumer delegates said
calling the franchise system moderately profitable pinola said it is going to take a rejuvenation of the agriculture sector for us to commence franchising at the speed we were generating before the last year or two on the banking industry in general pinola said he thinks 1987 will be another bad year for loan losses with only banks with minimal holdings in real estate able to improve profits
for six months the yield was 607 pct and the bids were at 580 pct
shr 33 cts vs 30 cts net 130 mln vs 119 mln sales 3308 mln vs 2497 mln
we need to and will make the effort to solve the debt problem but we cannot make an effort that means we stop growing he said adding that political and not purely commercial solutions were needed to the debt crisis
french official reserves rise in may
they said however the mediterranean butane market was very thin making it subject to wide price swings
kaske said domestic orders rose to 102 billion marks in the first five months of this year or nine pct above their level in the same 1985 86 period boosted in particular by orders for the fully owned kraftwerk union ag subsidiary
it said the facilities which contain approximately 2500 beds in seven western states were bought from don bybee and associates of salemore
time said it expects to fund the tender offer and redemption through one or more public issues of intermediate or long term debt
dauster says consumers should keep out of quotas
this enables redland to accept the csr bid within six months of its close or to lift its stake to 501 pct in the same period and to run monier as a joint venture with csr
on friday waste management said it would raise its bid to 35 dlrs per share
other estimates ranged as high as 500 dead
soybean meal use amounted to 202546 tonnes against 253498 and 213287 and its compounding ratio was 98 pct against 98 pct and 102 pct
the company added that this investment will assist the groups agricultural division in realising its aim of catering for an increasingly diverse range of worldwide markets on a round the year basis
snow said purchases on that scale now are unlikely
charan industries inc a distributor of toys and other consumer products expects 1987 net profit to rise at least 50 pct over last years 61 mln dlrs president earl takefman told reporters before the annual meeting
the ministry said in a statement 51 pct of the banks capital had been sold to a solid core of large investors including insurance companies and michelin subsidiary spika for 145 pct of the public offer price
the investment in shearson lehman a growing firm described by some analysts as the top us retail brokerage will give nippon life a ringside seat and possibly lower commissions on wall street where it invests an increasing percentage of its assets of 902 billion dlrs they said
mexicos 77 billion dlr loan package will be signed in new york tomorrow amid increasing calls from both creditors and debtors for a streamlining of the tortuous process of raising such jumbo loans bankers said
gulf applied technologies gats sells units
a 13 year tranche priced at 9774 pct will also be convertible until october 10 1987 on a one for one basis for a 850 pct 10 1 2 year year bond priced at 9808 pct
interest rate differentials between west germany and the netherlands are the main factors that trigger capital flows between the two countries as the economic performance of the two does not differ much economists said
the week was the second half of the two week statement period that ended wednesday
crop genetics international cropo 4th qtr
while japan has already done about all it can to make sure the chip pact is working the government is studying measures it can take in other fields to defuse american anger and ensure the trips success they said
the president of argentinas bank steering committee william rhodes of citibank said on friday he thought the loan agreement with argentina could be signed in august
cyacq terminates tender for cylcops cly 
the student loan marketing association said its rates on short term discount notes were as follows maturity new rate old rate maturity 5 14 days 580 pct 575 pct 5 14 days 15 360 days 500 pct 500 pct 15 85 days 580 pct 86 91 days 500 pct 92 176 days 583 pct 177 183 days 500 pct 184 360 days
final terms will be fixed on april 9
extraction of iron ore should show an annual growth rate of nine pct and reach seven mln tonnes by 1990 under the program
central bank head says philippine growth on target
the us treasury said its weekly auction of three month bills produced an average rate of 563 pct with a 559 pct rate on six month bills
overall i think we will issue at least a few times a week korkman told 
but not all oil companys welcome the introduction of another grade of unleaded gasoline
day reported earnings of 31 mln dlrs or 39 cts a share in fiscal 1986
we hope the measures will help reduce our trade surplus this year especially with that of the us the spokesman said
stoltenberg declines comment on possible changed targets for currencies
imports in 1985 86 are put at 1570 mln tonnes vs 1570 mln tonnes last month
florida employers insurance flaefo 3rd qtr
investor paul bilzerian disclosed he holds a 72 pct stake in pay n pak stores inc common stock and is considering seeking control of the retail building material firm
zimbabwe exports a wide range of meat products to neighbouring states and some 8000 tonnes of high grade beef to the european community annually worth about 48 mln us dlrs
canadas retail sales seasonally adjusted fell 01 pct in january after gaining 09 pct in december statistics canada said
shr loss three cts vs profit eight cts net loss 35000 vs profit 128000 revs 1133000 vs 1528000 year shr profit four cts vs profit 21 cts net profit 72000 vs profit 339000 revs 4837000 vs 4500000 note 1985 net income included an after tax gain of 195000 or 12 cts per share on sale of real property
the company said it will continue to operate 12 warehouses in illinois indiana michigan ohio and pennsylvania
dauster said he would talk to producers exporters and market analysts before taking any decision on export policy but any future policy would be flexible and adjusted to market conditions
the confrontation was the latest result of the long and bitter conflict between sri lankas buddhist sinhalese majority and the hindu tamil minority which has strong ethnic and cultural links with indias 50 mln tamils
an aide to usda undersecretary daniel amstutz who is reported to be strongly opposed to eep wheat to the soviets said that the shultz comments are consistent with what he shultz has taught for years as an economist but said they dont necessarily relate to the soviet union
total us slab zinc stocks held by smelters rose to 24735 short tons at the end of february from 22120 short tons at the end of january the american bureau of metal statistics reported
commenting on the deficit during an interview on cable news network baker said i think youre going to see a 15 to 20 billion dlr reduction this year the deficit was 170 billion dlrs in 1986
manufacturing was 24 pct above the year ago level
both we and gulf hope very much there will be no occasion for either the put or call to be exercised holden brown said
that is slightly less than the 58 mln bags produced in 1985 86
the company said the new credit will also allow it to prepay some other debt and redeem its class c series two preferred stock
however he pointed out that mainly sovereign paper was in demand with us bank sector paper largely ignored
michael armacost under secretary of state for political affairs was asked at a press conference whether japans moves to boost its domestic economy and open its markets could persuade the us not to impose tariffs on japanese imports said and replied it is probably too early for the figures to demonstrate that the situation has turned around and to permit the result you have described armacost said the us hopes japan will take steps to lift its domestic economy and reduce dependence on exports remove barriers to imports and settle outstanding trade issues
but the new move would permit us exchanges to apply to the cftc for approval of establishing futures contracts on those securities sec officials said
much attention was given to the polish delegation and the talks at both institutions involved displayed a lot of understanding for polands difficult economic position pap quoted baka as saying
the final decision on the initial prices usually made in april rests with wheat board minister charles mayer and the federal cabinet
shr primary 34 cts vs 17 cts shr diluted 33 cts vs 17 cts net 1487000 vs 686000 rev 198 mln vs 88 mln nine months shr primary 77 cts vs 43 cts shr diluted 75 cts vs 43 cts net 3240000 vs 1710 000 rev 422 mln vs 250 mln note companys full name is on line software international inc
the firms boston based fmr corp and bermuda based fidelity international ltd said they bought a combined 103000 orient express common shares from march 12 to april 8 at prices ranging from 305 to 355 dlrs each
the dollar rose to 17970 90 marks from new yorks close of 17730 40
kraft said last month it had signed a letter of intent to acquire the austin texas based foodservice distributor
the dollar opened lower against virtually all currencies and traded in a narrow range after the communique which reaffirmed support for the paris accord on currency stabilisation but contained no moves to strengthen it
continued state subsidies would not save them but would only prolong their lives artifically for a few years he said
a spokesman for zenith criticized the action
under the deal argentina will benefit from improved quotas on exports of beef to the ec
it said unadjusted m 3 increased to an estimated 3013 billion nz dlrs from 3008 revised from 3006 billion in december and 2518 billion in january 1986
thai sugar production continued at a high level in february latest figures received by the international sugar organization iso show
the house ways and means committee completed action on legislation to toughen us trade laws chairman dan rostenkowski said
shr 15 cts vs 11 cts net 900334 vs 482705 revs 287 mln vs 188 mln avg shrs 6195527 vs 4551105 shr 51 cts vs 31 cts net 2713912 vs 1402696 revs 987 mln vs 679 mln avg shrs 5369833 vs 4551105 note share adjusted for three for two stock split effecitive march 2 1987
there are no futures exchanges in west germany
alliance automation had 1986 sales of about 35 mln dlrs and employs 200
he told shareholders the company has a 190 mln dlr exposure in loans to brazil if that country defaults on its debt payments
the crumbling of the plan has been accompanied by a dramatic reversal in the foreign trade account
such redispositions may temporarily dampen the expansion of central bank money stock but do not automatically lead to a smaller expansion of money supply they said
shr 34 cts vs 27 cts qtrly div six cts vs 45 cts prior net 6448000 vs 4969000 revs 511 mln vs 447 mln avg shrs 191 mln vs 187 mln note pay for dividend was march 11 to shareholders of record on feb 20
the meeting came after baker criticised west germany for increasing key interest rates saying they were not in line with last februarys louvre accord
if not there is going to be continued fear that when pressure emerges on the dollar the fed will be forced to tighten
his comments followed a statement by secretary of state george shultz last week urging agriculture be the highest priority item during the upcoming summit of western heads of state in venice italy
gold could rise as high as 500 dlrs per ounce later this year said peter witte director of westdeutsche landesbank girozentrales trading division after a presentation by the us mint to promote its gold and silver eagle series coins
they said reaan could also delay invoking sanctions for a week or two giving japan a final opportunity to end the dumping practice but added that negotiators had already held extensive talks with the japanese to no avail
a source close to the management side insisted that timing was on his side
the payment date is may 6 and there will be a short first coupon period
shr loss 24 cts vs loss 13 cts net loss 619956 vs loss 340735 revs 172 mln vs 182 mln nine mths shr profit six cts vs loss 92 cts net profit 172384 vs loss 2437333 revs 577 mln vs 575 mln
the government agency said however harcourt canada has agreed to sell control of the firms to canadian interests within two years
zuckerman said chrysler will sell slightly less than one billion dlrs of corporates
they expressed optimism about the current state of affairs one participant at the meeting said
greyhound corp g completes bus line sale
inc is a spindle maker
banks extend trading halt in lebanese pound
part of the output will be exported
shad favors shortening disclosure period
videotron buys into exhibit company
the chairman of goodyear tire and rubber co a concern that survived a recent hostile takeover bid charged that terrorists in three piece suits are undermining the nations industrial base
textron incs avco lycoming textron subsidiary said it finalized a 14 billion dlr five year contract with the us army for m1 abrams main battle tank gas turbine engines
in a filing with the securities and exchange commission orion capital said the stock represents a favorable investment opportunity at current market prices in open market transactions between august 21 and october 16 an orion capital subsidiary bought 56200 twin disc common shares at 2106 dlrs to 2243 dlrs a share
completion is subject to the tender of at least 90 pct of the debentures and its lender to waive it from default under its loan agreements
the simple act of publishing a budget restored a measure of confidence to the business community
gencorp also said it is developing a financially superior alternative that would enable shareholders to benefit from the full value of the company
digitech inc dgtc 1st qtr jan 31 net
mechanically separated meat is a high protein low cost product that has been approved for use since 1978 usda said
integrated said field trials will begin immediately under the direction of granada corps granada r and d ventures integrateds partner in this area
the bond is available in denominations of 5000 dlrs and will be listed in luxembourg
y includes imports
the company said in the spinoff it is distributing its entire 44 pct interesdt in automedix
they called for stricter sanctions to stop all norwegian shipping to south africa
capitalisation is projected at 60 mln dlrs with foreign aid including soft loans from international institutions
coopervision today reported first quarter net income of 646 mln dlrs after a 1752 mln dlr pretax gain from the sale of its ophthalmic business to johnson and johnson jnj for 260 mln dlrs in cash and a 179 mln dlr posttax charge from a debt repurchase
lower corn production prospects in some major supplying countries have stirred activity from big buyers such as japan and the soviets are also closely watching the situation the official said
venezuela may turn to the international monetary fund for credits as part of the countrys overall effort to reestablish financial flows from abroad finance minister manuel azpurua said today
six months to december 31 shr 14 cts vs 16 cts interim dividend one cent vs same group net 41 mln ringgit vs 47 mln pre tax 67 mln vs nine mln turnover 1008 mln vs 1121 mln note dividend pay april 28 register april 3
the bank of england said it had provided the money market with late assistance of around 85 mln stg
there is a 1 1 4 pct selling concession and 5 8 combined management and underwriting fee
in february the cost of living in west germany rose 01 pct from january to stand 05 pct lower than in february 1986
india bought up to 10 cargoes of white sugar at a buying tender today which originally called for just two to three cargoes of march april shipment traders said
asked by an analyst about the recent recommendation by the us department of justice which would allow the bell operating companies to offer limited long distance services guinn said the company would likely shy away from that type of expansion
zzzz best co inc zbst 3rd qtr net
in addition to a changing perception about the dollar and monetary policy golden gate futures president norman quinn said the beginning of april could bring foreign investors back into the marketplace
larkin co inc and hays securities corp said an initial public offering of 865000 common shares of mesa airlines inc is underway at 750 dlrs per share
the new incorporation certificate and bylaws will provide for among other things a fair price provision requiring that certain transactions with interested 15 pct stockholders be approved by an 80 pct vote of stockholders excluding shares held by such interested stockholders
a drought that began seven weeks ago is hurting orchards and rubber plantations in thailand and officials said it could last until may
immucor blud splits stock
syndication runs until april 8
the ruling liberal democratic party ldp has proposed expanding imports of 12 farm products named in a us complaint against japan to the general agreement on tariffs and trade last year an ldp official said
the sela document is expected to be approved by delegates from all 26 latin american and caribbean nations meeting here until friday
the department asked for public comments on the proposals by april 17
the short term effect of foreign exchange rate movements in correcting international trade imbalances appears to be waning and long term efforts are required to cut japans chronic dependence on external demand the bank of japan said in a monthly report
stone container corp said it signed a definitive agreement with a group of banks establishing a total of 11 billion dlrs term loan and revolving credit facility
its negotiators have just initialled a draft accord to restructure payments on 13 billion riyals of bank debt
the ucpb had said the 500 mln peso payment would be forfeited because smc chairman andres soriano iii had failed to fulfil his commitment to buy back the shares at an originally negotiated price of 33 billion pesos
nj rep
the company said each 1000 dlrs principal amount of the debentures will be redeemed at 1068 dlrs plus 708 dlrs of accrude interest
shr 35 cts vs 29 cts net 3732000 vs 3131000 assets 109 billion vs 8612 mln deposits 8177 mlnvs 7057 mln loans 7041 mln vs 5534 mln note 1986 results restated to reflect acquisition of united banks corp
tonka also said it expects revenues and earnings to remain lower through the 1987 first half compared with 1986 record results of 1254 mln dlrs in revenues and 103 mln dlrs in net earnings or 147 dlrs a share
turkey passed legislation last year allowing commercial paper
farmers group inc fgrp 4th qtr net
it said the offer is also conditioned on gencorp redeeming the defensive rights or general partners being satisfied that the rights have been invalidated and general partners obtaining from the federal communications commission a special temporary authorization allowing completion of the acquisition of gencorp shares
chemical said net interest income fell to 4764 mln dlrs from 4889 mln and its net spread narrowed to 361 pct from 396 pct
usda estimates 1986 87 ussr grain imports 260 mln tonnes vs 230 in feb 299 in 1985 86
convinced they are here to stay investment bankers are attempting to adapt mtns for the euromarket
co lead is sg warburg and co ltd
inspiration resources corp said a gold project in northern manitoba in which it has a 448 pct interest has yielded estimated total reserves of 1580000 short tons grading an average 0185 ounce of gold per ton
it said mobil bought 73 mln dlrs of crude oil and oil products from china in 1986 and sold it lubricant and fertiliser but gave no more details
in the second half of 1987 there will however only be a weak upward movement they said
the us is sticking for the moment to its policy that brazil which two weeks ago suspended debt payments to private banks should deal with its creditors and not with governments us officials said
it predicted the bank of japan will not change the official discount rate in the year
most specialists i have talked to tell me the break even point for zccm is a rate of 10 kwacha per dollar frederick chiluba leader of the zambian congress of trade unions said
s and p pointed out that the fourth quarter loss resulted from the write off of nearly 600 mln dlrs in assets especially in agricultural chemicals and natural resources
rexnord inc said it signed a definitive agreement to sell its railway maintenance equipment co subsidiary to oak industries inc
periods ended jan 31 shr 28 cts vs 35 cts net 2374000 vs 2987000 sales 352 mln vs 34 mln backlog 368 mln vs 339 mln
osr said as part of the acquisition agreement is is required to sell its 80 pct interest in standard knickerbocker ltd which makes jeans in canada
the proceeds will go to reserves for acquisitions and will not show up in the profit and loss accounts analysts said
larner said estimates of compensation claims were pure guess work at this time
as of adjustments ranged from minus 500 mln dlrs on monday when cash letter errors at two eastern reserve banks were corrected to plus 500 mln dlrs on thursday when a correction was made to unposted funds at a single bank
shr 77 cts vs 76 cts net 13843000 vs 14478000 sales 3746 mln vs 3683 mln avg shrs 18003000 vs 19025000 year shr 216 dlrs vs 265 dlrs net 39503000 vs 51573000 revs 141 billion vs 141 billion avg shrs 18269000 vs 19497000 note 1986 period ended february one company changed fiscal yearend to january 31 from october 31
i believe that the prospect of debt relief would undermine the difficult internal efforts of the borrowing countries to achieve the structural reform that is needed regardless of the policies that are followed on servicing external debt volcker said
north yemen bought white sugar at tender trade
etl is classified as foreign because of its new zealand base
the central bank purchased 625 mln stg of bills for resale to the market on april 7 at rates of interest between 9 15 16 pct and 10 pct
the company said under the terms great western has agreed not to acquire or seek to acquire any voting securities of citadel or propose a merger with citadel for five years and citadel has paid great western six mln dlrs
jacobs said the governments fiscal reserves are expected to total 32 billion dlrs by the end of the current fiscal year ending march 31
seasonally adjusted figures showed imports rose in february to 716 billion stg from 673 billion in january
separately french prime minister jacques chirac in a visit earlier this week with president reagan sounded out the administration on a plan to funnel worldwide grain surpluses to the very poorest states
french january industrial production fell 198 pct official
the company said its naphtha posting is up three cts a gallon to 43 cts
general motors corp will idle six of its car assembly plants next week temporarily laying off 21600 workers according to spokespersons for the companys groups
klm which is also negotiating with british and commonwealth for a 15 pct stake in the latters regional airline air uk ltd says door to door delivery courier services are seeing substantially faster growth than traditional cargo activities
japanese finance minister kiichi miyazawa said the group of seven g 7 countries reaffirmed their paris accord on stabilising currencies to convince the market of their resolve
microbiological research corp said it entered into a letter of intent for a proposed business combination with privately owned datagene scientific laboratories inc and milex corp a newly formed company through a stock swap
unemployment was likely to rise to almost six pct from 52 pct last year due to the slack economic activity
researchers say the fungus could spread to other rubber clones if no immediate action is taken
duff and phelps raised its ratings to dp 1 aaa from dp 2 high aa on 26 billion dlrs in debentures and 150 mln dlrs in notes of south central bell telephone co a unit of bellsouth corp
financial analysts say they are pleased with congressional moves to trim next years federal budget deficit but believe the actions will do little to help improve the us trade deficit or buoy the economy
chen zuyuan communist party secretary of a village in the eastern province of zhejiang said the government listened too much to the demands of selfish city people and could raise city grain prices without any problem
central bank director daniel marx said argentinas creditor banks were divided on the countrys request for rescheduling its foreign debt
separately the isda estimates that about 300 billion dlrs worth of swap transactions are outstanding
our aim is to maximise the benefit to the taxpayer
amoskeag said the proposed recapitalization would increase total authorized stock to 260 mln shares from 22 mln
total m2 and local m2 rose 325 pct and 239 pct on the year ago month respectively
he declined to be identified but said pdvsa has the capacity to refine about 650000 bpd of crude oil from refining centers in venezuela sweden west germany belgium and the united states
though japanese exports have become more expensive with the yens sharp rise against the dollar they still tend to surge when growth picks up according to the oecd
for east malaysia it put production during the period at 297000 tonnes after 312000 a year earlier and for west malaysia 275 mln compared with just over 30 mln during jan sept 1986
qtly div 15 cts vs 15 cts pay may 4 record april 10 note previous dividend restated to reflect january 26 two for one stock split
kenan transport co ktco sets quarterly
westdeutsche landesbank girozentrale westlb said it is raising the amount of a 14 3 8 pct five year bullet australian dlr eurobond priced at 101 1 2 to 75 mln dlrs from 50 mln
accu weather meteorologist dale mohler said cold air moving from the north could put temperatures in the middle 20s fahrenheit as early as tonight depending on development of a low pressure area over southeast colorado which could stall the system
under the offer resorts said holders of its class a shares would receive 15 dlrs a share in cash and three shares of common stock in the new company
i dont know who in congress would propose that happening
passengers carried by cathay pacific totalled 42 mln last year up from 385 in 1985 with the passengers kilometre travelled rising to 1402 billion from 1256 billion
this involves a small amount of new notes with similar maturities constantly on offer at current market rates
most analysts seemed to agree with chicago mercantile exchange floor traders that the report will be viewed as bearish to pork futures and futures prices may open sharply lower today
hungary is to devalue the forint by an average of eight pct against western currencies the official news agency mti said
hoechst raises profits on lower sales
year to date domestic crude output was estimated at 840 mln bpd off 76 pct from 909 mln a year ago while gross crude imports averaged 392 mln bpd up 271 pct from 308 mln it said
gpu said its auditors coopers and lybrand again qualified its opinion of gpus financial statements adding the recovery of tmi 2 decommissioning costs to the unresolved issues leading to the qualified opinion
he said the highest takeover price he calculated for the company has been about 140 dlrs per share but that the highest estimates on wall street have been about 160
sama lowered the offer price on the 500 mln riyal issue to 9839844 from 9845313 last monday
safety kleen corp said it agreed in principle to acquire mckesson envirosystems co a subsidiary of mckesson corp
baltek corp btek 4th qtr net
nearly half of that will be spent on exploration and production and most of that will be spend overseas silas said
under the plan it also said 40 pct of its shares will be controlled by its employees management and its financial adviser first boston corp fbc
wells gardner corp wga 3rd qtr net
canada britain france japan the us and west germany agreed to cooperate in stabilising exchange rates around current levels
both malaysia and indonesia are low cost producers and traders said they could last out low prices longer than west african countries
the bonds are non callable for 10 years
the first expo will be held in june 1988 in des moines with an expanded format they said
argentine grain market review
helmut schlesinger vice president of the west german central bank the bundesbank said in tokyo today that gnp the widest measure of a countrys economic activity fell in real terms by a seasonally adjusted 1 2 to one pct in the first quarter compared with the fourth 1986 period
and donaldson lufkin jenrette already a primary dealer is preparing to open a us treasuries trading desk in london
whittaker corp said it will have a gain on the sale of discontinued businesses after any operating losses from the businesses up until the dates of disposition but it will defer reporting the gain until its restructuring program hsa been substantially completed
however he said soil moisture conditions were favorable and many of the fields had already been top dressed which would aid recovery
it said wtrk owns and operates wtrk fm a philadelphia radio station
none of the four major uk clearing banks now has a dealing room on the island
ocelot industries ltd year loss
oregon aluminum smelter increasing output
labatts earnings rose to 928 mln dlrs in the nine months ended january 31 from year earlier 78 mln dlrs
commenting on the trade deficit mulford reiterated the treasury position that the current account deficit will decline from 148 billion dlrs last year to around 130 billion dlrs this year due to the exchange rate adjustments of the past 18 months
yields on certificates of deposit cds issued today by the united arab emirates central bank were unchanged from those on last mondays offer the bank said
the smaller coins will be in denominations of a half ounce a quarter ounce and a tenth of an ounce
it traded at this level throughout the session down from yesterdays 614 pct average
an ic spokesman said the cost reduction program involved across the board cuts rather than specific about targeted areas
consumer prices fell 01 pct in february after a rise of 02 pct in january and no change in february 1986 the national statistics office said
our major commitment is with the countrys growth
for september shipment the board bought 25000 tonnes from graniere at 7932 dlrs per tonne fob and for october shipment it accepted 25000 tonnes from andre and companie at 7947 dlrs per tonne fob
mississauga ontario based tricil is a waste management company with operations in the us and canada
but justice had said in an earlier filing with the icc that it wanted the agency to move slowly on the plan and to turn down greyhounds request to begin operating trailways immediately
hong kong m3 rises 22 pct in january
canadian imperial bank of commerce 1st qtr
datarex drx to sell 3m mmm computer gear
she said if the banks refused to lend the new money the philippines should copy brazils action last week in freezing all debt repayments
campbell resources inc said it raised its voting stake in meston lake resources inc to about 64 pct from 52 pct through acquisition of another 870000 meston lake shares in its previously reported takeover bid
but even using foreign ships we must not forget that we are going to lose foreign exchange paying freight charges abroad and all this through the fault of the seamen rubens habbema said
the us asset backed debt securities market which grew explosively last year is broadening and investment bankers say 1987 could see a variety of issuers
the decline in gold production last year was due to a four pct drop in tonnage milled and a seven pct decline in grade
we havent been growing as fast as wed like but we are going to turn that around meyer said
the commodity credit corporation ccc has switched 250 mln dlrs in wheat credit guarantees to jordan under the export credit guarantee program to the intermediate export credit guarantee program the us agriculture department said
earnings were hit by lower sales and by the lower value of the dollar and currencies in other important markets
the newspaper did not speculate on whether recent dry conditions seriously threatened the main 1987 88 cocoa crop
i dont know if usda is really very serious about addressing the soybean loan problem he said
it ended up paying 567 billion dlrs for the outstanding shell oil stake a significant premium to its original bid of about 52 billion dlrs
the selling concession is 3 4 pct while management and underwriting combined pays 5 8 pct
qtly div 41 1 2 cts vs 41 1 2 cts prior pay april 25 record march 31 note full name bankers trust new york corp
qtly div 65 1 2 cts vs 65 1 2 cts prior pay april 15 record march 19
borg warner stock rose 1 3 8 to 49 5 8
afg has ba 1 senior subordinated debt and ba 2 convertible subordinated debt
but s and p noted that the acquisition would broaden ecolabs services
the company said the debt converted represents about 40 pct of the total 60 mln swiss franc convertible debentures it completed last fall
the us agriculture departments report on export markets for us grain scheudled for release today has been delayed until wednesday april 1 a department spokeswoman said
the eia said residual fuel stocks fell 15 mln barrels to 364 mln barrels and crude oil stocks in the strategic petroleum reserve spr rose 200000 barrels to 5167 mln
a handful of issues showed signs of weakness but dealers said investors were awaiting todays release of us leading indicators for january
saudi riyal deposit rates ease
the plane made by mcdonnell douglas corp mdn cost 18 mln dlrs and was one of 19 dc 9s in garudas fleet of 74 jets
haughey said he regarded as almost paramount the maintenance of the punts current position within the european monetary system
a secondary market for resale of farm real estate loans similar to markets on home mortgages is gaining support in congress and among rural lenders and could be set up this year congressional and financial sources said
terms call for an exchange of 275 shares of centurion shares for each share of central national
minorco said it expects net earnings to be substantially stronger than the 440 mln dlrs reported for the first half
the loss included a number of charges including additions to its loan loss provision of 68 mln dlrs and write downs on the value of its real estate of 13 mln dlrs
economics ministry state secretary otto schlecht said the bonn government saw no current need for measures to bolster the economy but was paying close attention to the slower growth and had not ruled out appropriate and timely action if necessary
qtly div 20 cts vs 20 cts previously pay april 15 record march 23
the company said it expects to report a loss for the year of about 3125000 dlrs due to lower oil and natural gas prices unsuccessful well workover programs and excessive overhead and corporate expenses
an officer on ubss corporate syndicate desk said the gte issue is the fourth that the securities firm has managed
the very existence of all these bilateral irritants clearly emphasises the need to develop multilateral solutions to some of these problems the eighth gatt round of negotiations was launched at punta del este in uruguay in september 1986
he also reiterated that there was no need for an emergency opec meeting
last week the company declared an initial quarterly dividend of four cts
he noted the 176 billion mark surplus for january and february together was lower than the 216 billion mark surplus posted in november and december
revenues dipped to 790 billion dlrs from 793 billion dlrs
the unadjusted year on year rise was 189 pct after 176 pct in the year to january the bank said
shr 26 cts vs 10 cts net 2867000 vs 1208000 revs 1000 mln vs 850 mln avg shrs 104 mln vs 9791671 nine mths shr 57 cts vs 34 cts net 6327000 vs 3951000 revs 2844 mln vs 2254 mln avg shrs 101 mln vs 9831097 current year net both periods includes gain 1755000 dlrs from change inestimation of useful lives used in depreciation of property and equipment
philip crosby however said it believes its december estimate calling for earnings per share between 10 cts and 15 cts on revenues of 11 mln dlrs was still valid
shr 17 cts vs 17 cts net 777000 vs 595000 revs 129 mln vs 117 mln year shr 68 cts vs 48 cts net 2957000 vs 1614000 revs 494 mln vs 386 mln avg shrs 4344204 vs 3337284
they anticipate this would appear around june and it has prompted keen demand in the july biffex contract despite it normally being a slack time in the shipping year
she was unable to say if there had been any prior contact between waste management and chemlawn officials
continental associates a group of four shareholders who hold about 502 pct of of continental materials corp stock said it will not pursue a tender offer for all of its shares
signs of concern about german prospects emerged recently when bundesbank central bank president karl otto poehl told bankers he would consider cutting west german interest rates if the fed was ready to follow suit
the payment date is may 15
however since the end of january it has been revalued to a fixed rate of nine per dollar
sterling will be held down by interest rate cuts in future rather than this active intervention he predicted
drexel burnham lambert international ltd is sole underwriter for the european issue
previously the fed jan
the fed had previously offered to buy all coupon issues on march 31
they were normally not brought onto the open market and never quoted on the stock exchange
us house speaker jim wright said he would question president reagan tomorrow about his plan to protect kuwaiti oil tankers with us warships from attacks by iran in the gulf
dome is now trying to reach agreement on a complex plan for restructuring debt of more than 610 billion dlrs
our information suggests we will have the required number of votes in brussels to prevent the tax proposal going forward he said
dealers said that investors are apparently willing to accept zero coupon bonds yielding 50 to 100 basis points less than annual pay bonds because their are tax benefits for retail buyers
standard and poors corp said it affirmed the ratings on seven billion dlrs of debt and preferred stock of american telephone and telegraph co
the committee was meeting in new york this afternoon and could put its final stamp of approval of the deal later today the bankers said
its going to be a routine meeting an update of what has been happening in the market but its unlikely any major decisions are taken cardenas told journalists
the westpac move follows base rate drops by other new zealand trading banks recently
the sale will not affect the services the bank will continue providing to institutional customers through its employee benefit trust services division bankamerica also said
they said to make an arbitrage investment at this level would be chancy since it will take a long time for any transaction to be completed because of regulatory approvals necessary for the broadcast properites
i think there have been potential breakdowns in that process he said adding that an actual breakdown would be very unfortunate he declined to comment on the situation of specific nations and said it was not the feds role to become involved in such talks
although brazil has rejected a substantive role for the international monetary fund imf in managing its economy funaro paid a call in washington to imf managing director michel camdessus and to world bank president barber conable
no french reflation sources close to balladur say
argyll energy corp year loss
bally spokesman bill peltier said the company currently has no hard plans to the sell any more of the health club company but in the long term well wait and see how the offering goes once ballys biggest revenue producer the health club unit had 1986 operating income of 60 mln dlrs on revenues of 4562 mln dlrs 28 pct of ballys revenues
however in addition to the scheduled delivery payment of 1410 dlrs an additional sum of 235 dlrs or 10 pct of the forecast price would be paid on december 15 on all cane harvested by november 30 he said
the ax had built up its market share in france to around four pct last month
this sparked speculation the government was preparing for a reflationary u turn but the finance ministry immediately ruled out any such move
its been a long time since i was deluged with as much information as i have been
dauster says no change in brazils coffee policy
business loans on the books of major us banks excluding acceptances rose 377 mln dlrs to 279085 billion dlrs in the week ended march 4 the federal reserve board said
20 that it was temporarily suspending interest payments on all its medium and long term foreign bank debt
the unadjusted jobless total in may including school leavers alos fell a record 121000 to 299 mln or 108 pct from aprils 311 mln 112 pct
zemljaric said the international monetary fund criticised yugoslavia for not regulating consumption not having real interest rates or market exchange rates for its inability to control monetary policy and slow pace of reform
the company had been required to redice by march two whether to proceed with the offer or terminate it based on its ability to obtain financing and on its review of benequity operations
first valley corp fivc regular dividend
the issue is due on april 9 1997
endotronics inc said it is the target of a formal private investigation by the securities and exchange commission as well as the federal bureau of investigation
phillips debt stood at 59 billion dlrs in december 1986 down from a 1985 high of 86 billion dlrs analysts said
manly molpus also said the industry would file a petition challenging koreas ban of us meat products
he said flows from commercial banks had decreased markedly and that the refusal of some highly indebted countries to fulfil their commitments to private creditors or with the imf was one reason for this
purchases of nondurables rose 107 billion dlrs in february after a 300 mln dlr increase in january
benson pleaded guilty to charges of conspiracy tax evasion filing false corporate tax returns and defrauding the companys shareholders
revenue for 1986 periods reflects reclassification of revenue of divested sperry operations to other income with no effect on net income
the us treasurys weekly auction is expected to produce an average rate of 563 65 pct for three month bills and one of 559 61 pct for six month bills dealers said
shr 21 cts vs 28 cts net 1456000 vs 1925000 sales 2587 mln vs 2902 mln nine mths shr 77 cts vs 110 dlrs net 5384000 vs 7658000 sales 8043 mln vs 7601 mln
1985 revs includes 700000 finders fee and 75000 gain from sale of asset
the company said the plant which is located in niagara falls new york will begin operations in december
this should result in substantial new lending for the major debtors in 1987 he said in prepared testimony for the subcommittee on international development institutions of the us house of representatives
diamond shamrock corp said it will redeem may 29 the entire outstanding amounts of three separate sinking fund debenture issues
dutch parliament backs stand against oils tax
fearing that an argentine moratorium would stiffen the resolve of its neighbour brazil which has already suspended payments the banks at the urging of the reagan administration bowed to argentinas demands
oper shr 43 cts vs 21 cts oper net 6846000 vs 3386000 revs 1371 mln vs 1076 mln year oper shr 136 dlrs vs 42 cts oper net 21764000 vs 7239000 revs 5164 mln vs 4547 mln note 1986 qtr excludes extraordinary gain of 784000 dlrs or five cts share versus extraordinary loss of 110000 dlrs or shr nil in 1985 qtr note continued 1986 year excludes extraordinary gain of 14360000 dlrs or 94 cts share versus extraordinary gain of 2883000 dlrs or 19 cts share in prior year
the bundesbank did not intervene as the dollar was fixed lower at 18162 marks after 18270 yesterday dealers said
sunflower maize and sorghum harvests were particularly affected they said
one is finding borrowers
tcf banking and savings fa said it filed with the federal savings and loan association to issue up to 100 mln dlrs of subordinated capital notes
more uk lenders are offering homebuyers fixed interest rate mortgages under which the borrower makes the same monthly payment no matter what happens to other interest rates
they said producers agreed that cutting sales would aid the buffer stock manager of a new international cocoa pact in his effort to support prices
more than 5 mln hectares of wheat producing land in north china could be affected because relatively warm and dry weather had allowed bacteria and insect eggs to survive the winter the agency added
the ec commission said it was adopting an open attitude about whether a system of production quotas should remain for the indefinite future on heavy steel products which account for about 45 pct of all ec steel goods
shr 21 cts vs 18 cts net 1068000 vs 902000 revs 381 mln vs 297 mln avg shrs 5177000 vs 5120000 note shr reflects 2 for 1 stock split on june 9 1986
there was no immediate announcement on the councils decision but us officials said it was likely the senior policy groups move on curbs reflected growing american frustration over alleged unfair japanese trade practices
total opec crude oil supply was 158 mln bpd in the first quarter plus 14 mln bpd of ngls compared with 173 mln bpd of crude in the last three months of 1986 and 179 mln average for the whole of 1986
it said the restated increases the provision against 1986 fourth quarter earnings to 235 mln dlrs from 155 mln dlrs estimated earlier
addressing argentine businessman during the inter american development bank iadb meeting here he said the two sides will meet again next thursday in new york
chronar also said it expects to report a loss for the year of about 45 mln dlrs on sales of about 12 mln dlrs compared with a loss of 513153 dlrs on revenues of 10 mln dlrs in 1985
nakasone sumita agree discount rate cut not appropriate now central bank sources
the utility has 350 mln dlrs of debt securities outstanding
kansas city ksu ready to buy southern pacific
us leading index rose 07 pct in february
exports of beef veal are also predicted to decline to 480000 tonnes shipped weight in 1987 from 515000 in 1986 and then rally to 490000 in 1988 the amlc said in a summary of its bi annual meat and livestock forecasts
shr nil vs loss 10 cts net profit 2936 vs loss 170866 revs 4147248 vs 1091392
the notes callable starting 1992 at 10150 have a final maturity on april 30 1995
canada december gdp gains 12 pct
all major grain producing countries must do their part to help reduce global surpluses and the recent australian farm policy proposals are flawed two us wheat organizations said
under the commission proposal the mechanism would initially result in a tax of 330 ecus a tonne on both imported and ec produced oils and marine fats
at the january meeting france sided with producers on how the buffer stock should operate delegates said
the issue of gulf oil imports was not discussed at the ministers meeting he added
caisse nationale de lenergie is issuing a 650 mln franc 870 pct bond due october 13 1997 at par lead managers banque national de paris and union de garantie et de placement said
he added that no one should expect any dramatic developments before march 31 brazil last month suspended interest payments on its 68 billion dlrs debt to commercial banks and froze short term trade and money market lines
existing debt strategy has been based on nursing debtor economies back to a position where they can again service their debts and qualify for new loans
people are hungry for yield
but at the same time they said fertilisers would rise by an average 50 pct animal feeds by 38 pct and tractors by 25 pct
avalon corp of the us has a 17 pct stake in tmoc through an option agreement
us mint seeking 4784000 lbs zinc
there is a very good correlation between the us parent selling canadian subsidiaries and the us parent either being under siege or taking someone else over he said
shifts from mild to very cold weather in east germany damaged winter barley and late sown winter wheat in central regions and barley north of berlin the us agricultural officer in east berlin said
the bank of england said it had provided the money market with 224 mln stg help in the morning session
their product is simply deals and that is not a product which a country can base a future on last year mercer fought off a takeover attempt by british industrialist sir james goldsmith
1985 year net includes pretax loss 6600000 dlrs from plant closing provision
we need some kind of market loan he added
currently a simple majority can approve or disapprove loans giving the borrowing nations control of the purse strings and resulting in loan conditions too lax for washingtons taste
they can carve out a niche here one said
it said it will retain a seat on the new london board
the next term debt offering is scheduled for june 1 with an announcement covering the terms due on may 21
financement local et regional floral a finance house managed by caecl will issue an 800 mln franc bond and caisse nationale de lenergie will issue a 650 mln franc bond of which one of the lead managers will be banque nationale de paris
at present it can only issue coins of 500 yen or less
in addition it noted a slight rise in taxation and social security costs to employers
the company said petrosurance will use the sale proceeds to support growth and improve the structure of its reinsurance treaties to retain a larger part of premiums written
von wartenberg said the economy still had good export opportunities
effective march 23 the debentures will be listed as the debentures of louisiana land llxoo
us to set orange juice duties monday
phillips p raises crude postings 50 cts
shell canada shc raises crude 32 cts canadian
there has been no rise in the price of frozen concentrated orange juice fcoj a spokesman for the banco do brasils foreign trade department cacex said
moodys investors service inc said it raised to aa 2 from aa 3 the long term deposit obligations of citizens fidelity bank and trust co because its parent citizens fidelity corp has merged into pnc financial corp
the bp plant in which swedens state owned ok petroleum ab has a 22 pct started up in 1967 and has an annual capacity of 47 mln tonnes
this is why we increased the strategic petroleum reserve but we have to do more he said
the coupon on the 70 mln dlr equity warrant eurobond for best denki co ltd has been set at three pct compared with the indicated 3 1 8 pct lead manager nikko securities co europe ltd said
when issued trading is expected to begin at 0930 hrs est tomorrow it said
in 1986 the fashionable comment in washington was japan bashing
ronald glantz of montgomery securities said amc common stock could be fairly valued at just under five dlrs a share given changes brought by tax reform and that chryslers offer to pay four dlrs a share of chrysler stock to amc holders other than renault as a a good price for chrysler
the international challenge implicit in our huge trade deficit has become the 1980s equivalent to the launch of sputnik by the russians in the 1950s when we suddenly feared we were to be left in the wake of soviet technological achievement he said in an address to florida educators
zayre corp 4th qtr shr 73 cts vs 60 cts
the paper quoted unnamed industry sources as saying american will buy 25 wide bodied planes from airbus 15 wide bodies from boeing and 80 engines from ge
miyazawa hopes the agreement will hold the yen stable for a few months before it weakens later in the year
the company also said it has filed to offer 912000 common shares including 162000 to be sold by a shareholder with company proceeds to be used for working capital and general corporate purposes
all are to be completed during the second quarter of 1987 it said
the swiss franc rose to a fix of 120515 marks per 100 from 120180
reaffirming remarks made last year by chairman howard macdonald annesley said the company is considering selling its stake in dome mines
us hosuing completions fell 02 pct in january
bci holdings corp said its beatrice us food corp retained shearson lehman brothers inc to assist in the sale of its national bottled water business
japanese shipyards to form cartel cut output
the agent said honduras is seeking vessels to deliver 7369 tonnes during a period that includes laydays of april 15 30 and 12000 tonnes with laydays of may 15 30
after rorer announced its second bid for the company last thursday analysts forecast that the robins family which holds control of the company would vigourously oppose any merger
cocaine although illegal is bolivias largest export
bilzerian ups pay n pak pnp stake to 99 pct
shr loss eight cts vs loss nine cts net loss 311255 vs loss 157941 revs 546069 vs 284636 avg shrs 3790235 vs 1819680 year shr loss 27 cts vs loss 24 cts net loss 858624 vs loss 399385 revs 1491518 vs 1407441 avg shrs 3175157 vs 1692700
the national association of realtors said sales of previously owned homes rose six pct during february from january levels to a seasonally adjusted annual rate of 369 mln units
the trade report on a balance of payments basis excludes such factors as military sales and the costs of shipping and insurance
it said the maize export price currently is depressed and the board is probably confronted with the necessity to maintain or slightly increase the internal price of maize again to offset the ostensible loss which must be faced on exporting surplus amounts
cpl real estate cntrs cuts regular payout
following the imf talks the fixed exchange rate will be adjusted against a basket of five major currencies but it will not fall below 1250 kwacha per dollar chivuno said
jack tseng president of the company attributed the high expectations to increased orders from major costomers as well as accelerated business from its growing reseller network
total liabilities fell to 1221 billion rand in march after rising to 1362 billion in february
a review of south africas economy by the economic subcommittee of commercial banks is nearing completion and should be announced shortly the bankers said
inflation is not such a constructive factor as this time last year but its not building up a large head of steam said allan leslie of discount corp
ivory coast did not participate in the last international cocoa pact and its decision to join the new accord has sparked hopes that it will be more successful in supporting prices
allis chalmers ah estimates proceeds of sale
shr 19 cts vs 13 cts net 166000 vs 118000 rev 32 mln vs 25 mln year shr 34 cts vs 30 cts net 303000 vs 269000 rev 108 mln vs 102 mln
howard has accused japan of trying to shut out cable and wireless from having a major role in the international telephone market in japan
american express axp may sell shearson stake
the ec accounts for 60 pct of the market and exports to the community rose seven pct last year
this would be completed in may after which finance will be sought
to this end japan and the us must make medium and long term efforts to alter economic structures which have expanded the trade gap between the two nations
speaking to reporters after announcing a lower export registration price or reintegro of 110 dlr per lb ex dock new york gaviria said export mechanisms would be more agile
the department previously estimated april income rose 03 pct
harris lifts builders transport truk stake
the number of new bankruptcies appears to be declining but saudi banks hit hard by non performing loans to the corporate sector have become highly selective in extending new credit
century said it anticipates that ml media partners lp which jointly owns with century a company called cable television co of greater san juan will join in acquisition and management of community cable
us has to midnight to set orange juice duties
but a few economists said there was an outside chance that the fed may inject reserves indirectly via a small round of customer repurchase agreements
based on preliminary results the company said net income rose to about 24 mln dlrs or 96 cts a share from 174 mln dlrs or 70 cts a share in 1986s initial three months
a cut in bank liquidity will not directly influence central bank money stock the bundesbanks main money supply indicator
todd added that it has suffered financially because of the us navys unwillingness to release certain retentions under completed ship construction contracts and a general decrease in us military spending
marine midland banks inc said it has acquired the customer account base of new york discount brokerage firm ovest financial services inc for undisclosed terms to expand its discount brokerage operations in the northeastern us it said it will combine ovests activities with those of its marine midland brokerage service unit
stockholders at the annual meeting approved a measure to change the companys name to ivaco industries inc
most traders expected follow through profit taking from yesterday but the market found suport from bullish reports that opec is producing within its quota said simon greenshields a vice president with morgan stanley and co inc
icco executive director kobena erbynn will draw up what some delegates called a pre compromise and present it to the buffer stock working group at 1130 hrs gmt tuesday they said
about seven billion dlrs of securities is affected
corning glass works said the exchange ratio for its previously announced acquisition of hazleton laboratories corp has been established at 05165 corning common share for each hazleton common share
it said the offer will result in the issue of 575 mln common shares 2885 mln dlrs principle of variable rate subordinated debentures and 138 mln shares of convertible preferred stock
bayer paid a 10 mark dividend on 1985 results up one mark from a year earlier
it is only britain which has openly come out to say it would withhold funds intended for the auction system of foreign exchange chigaga said
chase manhattan asia ltd of hong kong has approached taiwan banks to take part in a syndicated loan of 300 mln us dlrs to finance a liquefied natural gas lng project in indonesia local banking sources said
sharon steel corp extends exchange offer
the panama canal commission a us government agency said in its daily operations report that there was a backlog of 30 ships waiting to enter the canal early today
gillette said consent for the bid is required under a standstill agreement between revlon and gillette before revlon can make any move on gillettes stock
conger said he sees homestakes 1987 gold production about the same as 1986 gold production of 669594 ounces
echlin ech expects continued profit growth
it said the acquisition will enable all of frontiers medical malpractice coverage to be serviced internally
ida gives 186 mln dlr loan to sri lanka
london coffee prices closed at 1276 stg a tonne today down from around 1550 at the beginning of march
there had been speculation another offer might be forthcoming but analysts mostly believe the 35 dlrs per share price being paid by hutton and the managers pc acquisition inc is fully valued
outokumpu in copper deal with iberica del cobre
the central bank has been keeping extremely careful watch on exchange rate movements since last week he said
stop and shop cos inc shp 4th qtr jan 31 net
the treasurys account with the bank dropped 960 mln guilders to 65 billion guilders
the bank of spain said it raised the reserve requirement for banks and savings banks to 19 pct of deposits from 18 pct to drain excess liquidity which threatened money supply and inflation targets
summit resources ltd year net
another change introduced in the new inra is that price reviews will be held at 15 month intervals instead of 18
hungary raises prices in effort to curb deficit
31 1986
merrill lynch mer suspends uk merger chief
us house panel approves trade bill
hanover insurance hins raises dividend
it gave no details
the european currencies are moving back up against the yen
prior qtr and year figures exclude gain from discontinued operation of 31000 dlrs and loss of 2000 dlrs respectively
bkla bancorp dec 31 year net
it argues there might be instances in which a country needed the money to continue its moves toward us policies in other areas
aircraft attack iranian oil rigs in southern gulf
proxmire said the pre notification requirement was meant to prevent arbitragers from having a jump on the general public in knowing about coming takeover attempts
tesco yesterday launched a 1514 mln stg bid for the north of england supermarket chain which hillards promptly rejected
this is because the intermediary providing the funds in this case italfunding can obtain its funds relatively cheaply on the international markets
may 31 end shr 27 cts vs 14 cts net 5664000 vs 2812000 revs 682 mln vs 547 mln avg shrs 21254054 vs 20167714 note first quarter report
the notes have an annual interest coupon instead of paying interest semi annually merrill said
suburban bancorp inc said it received approval from the federal reserve board to acquire valley national bank of aurora for an undisclosed price
a ministry spokesman said the unadjusted figures showed a smaller than usual seasonal decrease for the time of year because of particularly cold weather delaying work in the building industry
siemens raises stake in telecom plus of us 
italys state owned banca nazionale del lavoro bnl said it is negotiating to buy a west german bank as part of its foreign expansion policy
pldt reported 1986 net income of 189 billion pesos up 68 pct from 7789 mln pesos in 1985 on operating revenues of six billion pesos up from 47 billion pesos in 1985
it said lyle has sales of about four mln gallons annually and serves about 4000 customers in seven counties in southwest georgia and north florida
mim completes part of norddeutsche affinerie buy
ruiz ligero said infe would double its annual budget to 20 billion pesetas to finance the four year plan while the governments development aid fund fad would provide a special 25 billion peseta grant
earnings from writing back provisions 3265 mln marks vs 656 mln
the government had distributed large quantities of seed and fertiliser and the rains should ensure a good crop
although belly stocks were down 33 pct from last year they exceeded the average expectation and actually showed a lighter than expected decline from last month due to an adjustment to last months holdings they said
uk money market shortage forecast revised up
mid state mssl first federal in deal
private sector economists emphasized that the commerce department was not revising down the deficit by 145 billion dlrs but simply presenting the figures on a different basis
broadly based m 2 money supply rose 16 pct to 3095 billion dlrs during december after a 17 pct rise in november bringing year on year growth to 100 pct for the year ending in december against 102 pct for the year ending in november
the international monetary fund and world bank meanwhile have committed nearly 12 billion dlrs in loans for the 15 major debtor nations since late 1985 official creditors have rescheduled 145 billion dlrs in outstanding loans through the paris club while commercial banks are making new loans
paice also said the 1986 87 australian wheat harvest has ended after a long cool summer with 1514 mln tonnes delivered to the awb
on friday dixons announced that it had increased its holdings in cyclops corp to about 83 pct of the currently outstanding shares and that it intended to increase to 95 dlrs from 9025 dlrs the amount per share paid in the merger of a dixons subsidiary with cyclops
he said the volume of ec oil imports from the gulf had declined to around 31 pct of total oil imports in the first three months of 1987 against 35 pct in the same period last year
the ministry said french aid to gabon in 1987 within the framework of the countrys economic recovery program amounts to about 167 billion francs
even aggressive foreign investors have stopped investing in yen said masaki shimazu manager of daiwas bond department
paco pharmaceutical pps 2nd qtr feb 14 net
qtr ends dec 31 shr profit three cts vs loss three cts net profit 129000 vs loss 85000 revs 4001000 vs 4347000 avg shrs 3994347 vs 3769347 nine mths shr loss 75 cts vs profit 39 cts net loss 2900000 vs profit 1753000 revs 7472000 vs 153 mln avg shrs 3845438 vs 4470275 note net 1986 includes tax gain carryforward from discontinued operations of masters merchandise group in year prior
it was priced at par
it also has an information services business and is trying to sell its financial services business
but departure remains uncertain because of the continuing parliamentary boycott by opposition parties protesting plans for a new sales tax
the fed staff said the risk gauge attempted to balance conflicting needs for precision and simplicity
price per bushel is in us dollars
rolm will also continue to direct the sale of its products by rolm distributors in the united states and overseas
qtly div 26 cts vs 26 cts prior pay april 30 record april 10
a market loan for grains and soybeans would encourage more production especially in high yielding areas would be much more expensive than the current cotton and rice marketing loans and not increase exports significantly he said
it said consumer prices for foodgrain can be adjusted only gradually as part of a reform of the entire pricing system
payment is due march 17
these delays were caused by a shortage of railway wagons in uganda and bottlenecks on the ferries which transport ugandan wagons across lake victoria to link up with the kenyan and tanzanian railway systems the sources said marketing minister john sebaana kizito publicly acknowledged on february 19 that the cmb had run up arrears to local suppliers as a result of the shortage of transport for moving exports
international american whose stock was halted on nasdaq earlier said the purchase price is payable 12 mln dlrs in cash and the balance in its own common shares
japanese firms now have long term contracts to import a total of 150000 barrels per day of saudi crude
theres going to be more to come here
1985 net includes extraordinary items of 108000 and gain on sale of 16 mln dlrs tax carryforward gain of 246000 dlrs
imports fell to 861 billion from 1012 billion a year earlier and 894 billion in january
qtr ends dec 31 shr loss one ct vs profit two cts net loss 52922 vs profit 220041 revs 481832 vs 824554 six mths shr loss one ct vs profit four cts net loss 104129 vs profit 345515 revs 934685 vs 1465153
the bills are meant to soak up a projected money market surplus due largely to coupon and principle payments of a previously issued japanese national railways bond
qtrly div nine cts vs nine cts prior pay may 1 record april 9
allegheny made the disclosure in documents filed with the sec in connection with its recent agreement to be taken private through a leveraged buyout led by first boston inc
within manufacturing strong gains were posted in the wood machinery non metallic mineral and food product groups
private individuals and corporations do not engage in options trading now due to west germanys civil and exchange laws which define losses made in futures and options business as gambling losses which investors need not pay back
the conversion price was set at 32 5 8 dlrs representing a premium of 2038 pct over yesterdays atari share close of 27 dlrs
theyre not going to slow up theyre just going to buy smaller pieces because of the political risk said barclays de zoetes may
a spokesman for the national coffee growers federation commenting on rumours which had circulated in market circles said these were false
taft shares climbed 19 to 151 1 2 causing arbitrageurs to say investors believe the bidders may raise their price
the degree of success or failure of a takeover has not in my experience depended on whether or not the takeover was contested he said
correction ashton tate item in torrance calif item ashton tate tate 4th qtr net please read 1986 quarter average shares as 247 mln not 2007 mln
uk money market given 728 mln stg early help
it was quoted as low as 14840 yen in the far east and dealers here said they expected the us currency to decline further
savannah electric and power co sav ups dividend
economists said tomorrows release of us auto sales for the first 10 days of march will be an important indicator of how much this sector will add to first quarter spending
emerys stock closed up 1 2 at 12 5 8
no reason was given for the expected loss
japan minister says about 170 yen appropriate
telemedia to buy harrowsmith equinox magazines
it plans to file by mid may with the securities and exchange commission a registration statement covering the securities computer products said
conoco said the increase brings its price for the us benchmark crude west texas intermediate to 1750 dlrs a barrel up one dlr
santana said if the saudis change their minds and decide to respect the terms of the contract then petrobras will lift the order to cancel the shipment
in the case of notes issued by us borrowers the lock up period is the 90 days after the completion of a series during which time a security cannot be sold back to the us or to us investors
the 10 year eurodollar bond issue launched yesterday for norsk hydro at 8 1 4 pct and 101 5 8 pct has been increased to a total of 125 mln dlrs from the original 100 mln amount swiss bank corp international said as lead
brazils gros to meet banks on trade line issue
henry schuler a former us diplomat in the middle east now with csis said washington had agreed to escort kuwaiti tankers in order to deter iranian attacks on shipping
traders are stocking up and when they have overbought the prices will start declining again
freight from upper areas of the mississippi have risen nearly 50 pct in the past two weeks to over 150 pct of the original tariff price
one trader most stocks in the group bounced off their lows by midday as investors took the news in stride
another cbt official executive vice president george sladoje said the issue would be discussed this friday at a special meeting on the exchange floor
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
daryl elser president of steel technologies will be president of the new company it said
proceeds will be used to repay bank debt incurred to finance the acquisition of mcneil corp in august 1986
the amount of the offer scheduled to close april 7 had not been prefixed
royal bank ryto reclassifies brazil loans
k mart said the earnings rise for the fourth quarter ended january 28 to 285 mln dlrs from 105 mln dlrs resulted from merchandising refurbishing and expense control a year ago k mart took a charge of 239 mln dlrs for discontinued operations
soybean oil 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stocks 161 151 137 136 production 1420 1413 1365 1366 imports 331 329 308 305 consumption 1402 1403 1333 1340 exports 333 335 315 316 end stocks 178 154 161 151 note imports and exports do not balance due to differing marketing years and time lags between reported exports and imports
in a speech to financial planners this week beryl sprinkel the chief white house economic adviser predicted the trade deficit will continue to improve
theres been a lot of consolidation in the marketing co ops one problem he said is the co ops sell the grain to the major commercials for export rather than exporting it themselves losing potential profits
us agriculture secretary richard lyng does not intend to discuss a wheat export enhancement initiative to the soviet union at a cabinet level economic policy council meeting set for tomorrow an aide to lyng said
he also said the dismantling of farm subsidies would be discussed at the summit
harris cuts cyclops cyl stake to 111 pct
malaysia is the worlds fourth largest cocoa producer
computer network technology cmnt 4th qtr loss
beyond that i have no comment the spokesman said
the ef hutton group subsidiary is supplying 279 mln dlrs in so called bridge financing for the transaction
instinet inet sets meeting on merger
all are for august shipment at 364 dlrs a tonne cif
japans law limits foreign ownership of any new international telecommunications entrant to 33 pct so c and ws and pacifics stakes could be three pct in the merged firm sources said
canada may consumer price index rises 06 pct statistics canada said
the bonds will be sold in denominations of 500000 australian dlrs and listing will be in luxembourg
colombia to sell sugar london traders say
the instrument enables banks to diversify their funding base in a significant way in yesterdays series the issuing banks coupon rates were set at the commercial bank composite rate plus a spread which is expected to equal an all in cost of libor minus 10 basis points shearson said
grain reserve holdings breakdown
last week saw 60500 tonnes whites athuorised for export at a maximum rebate of 44819 ecus per 100 kilos
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
outstanding bills will total some 2300 billion yen
continental federal savings and loan association said it was told that an estate holding 38 pct of its stock plans to sell its stake at a premium over the current stock price
we have confirmed with the henley group that they own approximately 79 mln shares of santa fe southern pacific common stock
the blocked bid did not include non voting shareholders who hold 96 pct of canadian tire equity
british package courier interlink express plc does not plan to bid for the whole or part of purolator courier corp pccn a spokesman said
the company named dean witter reynolds inc as sole underwriter of the offering
the corporation said the spring branch fonderen and gulfway texas american banks will become separate banking offices of tab galleria
the non callable bond is available in denominations of one mln yen and will be listed in luxembourg
a shareholder group led by new york investor robert toussie told the securities and exchange commission it sold off most of its holdings in hecks inc common stock but reserved the right to again seek control of the company in the future
government planners have long recognised that saudi arabia the worlds largest crude exporter needs to foster private enterprise to diversify its oil based economy
the level of future dividends will be influenced by the implications of the proposed dividend imputation legislation it said
seeq technology inc seeq 2nd qtr march 31
tultex corp ttx sets quarterly dividend
all sectors saw strong growth in 1986 resulting in a 13 pct increase in operating income to 120 mln guilders
louis joint stock life insurance company bought their combined 1261000 minstar common shares for investment purposes only
conable warns protectionism might spread
the company said a corporate wide reduction of its professional management and indirect labor will result in the permanent elimination of 183 positions in all functional areas of the companys business
the total quantity of rubber offered at the sale was 320 tonnes
in 1986 diamond shamrock produced 82473 mln barrels a day of oil with 83 pct of that from indonesia while gas output was 2656 mln cubic feet a day of which 98 pct was in the us blackburn said that he believed he could find oil to replace this production at low costs which were 497 dlrs a barrel worldwide and 388 dlrs a barrel in the us blackburn also said that the company would be willing to buy reserves if we can find the right producing properties at the right price blackburn estimated that oil prices will average about 18 dlrs a barrel this year with average prices received for natural gas at 157 dlrs per thousand cubic feet
atlantic to raise high sulphur fuel prices
network security corp ntwk year net
the legislation has already passed the house of representatives and recently passed the senate finance committee
the partners also said the federal communications commission established an expedited schedule for receiving comments on their request for special temporary authorization of proposed trust arrangements while the fcc considers a formal application for transfer of the broadcast unit
kramer made the forecast at a meeting today on austrias economic outlook also attended by chancellor franz vranitzky finance minister ferdinand lacina and national bank president stefan koren
iranian premier reiterates warning of retaliation
the gnp forecast by the institute one of five leading economic research bodies in west germany is more optimistic than that of the other institutes some of which have recently reduced their gnp forecasts to between two and 25 pct
zhang haoruo vice minister of foreign economic relations and trade said last friday that china signed foreign loan agreements for 694 billion dlrs last year 966 pct up on 1985 with actual loans amounting to 483 billion up 93 pct
pitt des moines inc pdm to acquire steel unit
blue grass breeders inc said it has completed the acquisition of equine enterprises inc for four mln common shares
purolator pcc director quits over buyout
wang said haefner the swiss investor would hold about 25 pct of computer associates stock after the merger
sumita says bank of japan will intervene if necessary
ameritrust corp of ohio also raised its prime lending rate to 7 3 4 pct from 7 1 2 effective tomorrow
webb investment dwpa 4th qtr net
gerold tandler general secretary of the christian social union party detailing the cuts at a news conference also attended by officials from the christian democratic union and free democratic party said all of the additional 52 billion mark reduction would represent net tax relief
year to march 31 final dividend 365p vs 31p making 54p vs 46p share 1411p vs 1213p pre tax profit 2711 mln stg vs 2406 mln net profit 1812 mln vs 1521 mln turnover 25211 mln vs 22529 mln note london international group plc lonll said that sharply increased sales of condoms had led to a particularly strong start to the year and it had considerable confidence for the future
taiwan to issue 12 billion dlrs worth of bonds
kuwait is also looking at flagging out to european registries the officials said
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
it became clear to us the eximbank must assume a broader range of explicitly defined country and transaction risks than it has previously
in february locally heavy showers may have caused flooding in java it said
swearingen predicted an increase in operating profits for 1987 because he sees higher income and reduced expenses
most analysts said japanese exporters would be hard hit if the united states did implement the tariffs which would be levied on consumer electronics products rather than on microchips themselves
because the carrying value of many of these loans is collateral dependent a further decline in the overall value of the collateral base could cause an increase in the level of real estate related chargeoffs
shr 12 cts vs 15 cts net 282000 vs 360000 revs 5261000 vs 5348000 avg shrs 2336000 vs 2335000 year shr 91 cts vs 104 dlrs net 2149000 vs 2075000 revs 282 mln vs 283 mln avg shrs 2356000 vs 2001000 note 1986 quarter net includes 72000 dlr charge from repal of investment tax credit
herrington says he may call for oil tax benefits
publicly japanese officials remain conciliatory in the face of what they see as us aggression
mellon bank corp said it expects to report a loss for the first quarter in the range of 55 mln to 65 mln dlrs or 213 to 215 dlrs a share
paine webber pwj in four mln share offering
the chairman of the us senate committee with jurisdiction over trade said he was concerned about a resolution on bilateral trade negotiations adopted by the canadian house of commons last week
rodman renshaw rr to buy 200000 of its shares
natural gas seen recapturing some market share
the reagan administrations proposed farm policy changes are not going anywhere this year dole said singling out the proposal to cut target prices 10 pct per year
the quarterly session of the international tin council itc continued without formal agreement on an extension of the sixth international tin agreement ita but delegates said it was apparent there was a general consensus the agreement should be prolonged
delegates said figures now being floated range between 65 and 80 pct
oil normally accounts for 60 pct of its exports
research development and engineering expenditures in fiscal 1987 will be in the 45 50 mln dlr range and the company said it has allocated another 30 40 mln dlrs for capital expenditures
it would not be discriminatory because it would be applied to domestic and imported products and past experience showed it would not cause any decline in consumption of oils and fats
neyra told peru was current on interest payments on short term debt including trade credit lines and on about 750 mln dlrs in so called working capital credits
the us transportation department has rejected twas application to acquire usair on deficiency grounds but twa has said it will file a revised application moodys noted
the result has been higher imports of sugar containing products and a flight of us processing facilities overseas to take advantage of cheaper sugar
the soviet union supports the freedom of navigation in the gulf and does not support any act which would cause the deterioration of the situation in the region its ambassador to kuwait ernest zverev told the kuwaiti news agency kuna
nilsson said the takeover will provide opportunities to cooperate with the mining and materials handling operations of bolidens parent company trelleborg ab
there is a 1 1 2 pct selling concession and a one pct combined management and underwriting fee
kent electronics corp kec 2nd qtr sept 26 net
outstanding yen cash bonds worldwide stand at around 140000 billion yen with most held in japan they said
some seven billion marks is expected to flow in next week
david resler of nomura securities co international inc raised his end june bond yield forecast to 750 pct from 720 pct and a fed funds rate estimate to six pct from 580 pct
his comments appeared to serve notice on other major nations that washington cannot wait too long for action to reduce the gap between the japanese and german trade surpluses and the us trade deficit
the us officials added the sale would also worsen the strained relations between the two countries stemming from the huge japanese trade surplus
weeks petroleum ltd wpmamel calendar 1986
treasury secretary james baker facing the toughest challenge to his third world debt plan so far is expected today to stoutly defend the strategy
marriott mhs to sell hotel
the report says wheat imports are likely to fall to 15 mln tonnes in calendar 1987 from 169 mln tonnes in 1986 because of a drawdown on stocks
concern over an anticipated fall in dutch competitiveness this year against a background of an average 2 1 2 pct wage increase zero inflation and a firm guilder has triggered some calls for a change in monetary policy to help boost growth
bhf unit issues 30 mln australian dlr eurobond
american savings said the company said knolls offer to buy the new shares is not conditioned on other purchase of common stock from any person or entity
us treasury policies said unchanged by departure
the company said a definitive merger agreement is expected to be negotiated within six weeks and shareholders are expected to vote on the deal at a meeting expected to be held in june or july
cumulative meat purchases through march 27 total 376897330 lbs the department said
the company today reported a loss for the year ended november 30 of 413021 dlrs on revenues of 600971 dlrs compared with a loss of 163932 dlrs on revenues of 665800 dlrs a year before
noranda says fire caused 10 mln dlrs in damage
202 data systems inc toot 1st qtr jan 31 net
inco closed 1 3 8 lower at 19 3 8 in second most active trading on the toronto stock exchange
national westminster said that it was responding to general easing in money market rates
a dealer at another bank said his bank had been asked to publicise the intervention to send a clear signal to the markets that central banks were acting in concert to maintain the exchange rates agreed to be appropriate at last months meeting of the group of five and canada in paris
inc told he remains hopeful that brazil and its foreign bank creditors will reach a debt rescheduling agreement before the end of the year
among other major clearing banks barclays plc bcsl and national westminister bank plc nwbll said they had no immediate plans to announce similar fixed rate schemes
we needed some help from the cold storage report to avert a possible setback next week in the pork complex levitt said
oper shr loss five cts vs loss 128 dlrs oper net loss 155000 vs loss 3982000 sales 371 mln vs 342 mln note net excludes losses from discontinued fabric finishing operations of 3431000 dlrs vs 5910000 dlrs
vista chemical vc sees year net higher
energy development edp completes may mep buy
in an interview with the globo television network transmitted from rome funaro said he had proposed a four year plan to the creditors which would include a rescaling of the commitments derived from its debt
crude oil was seen likely to build assuming imports continue at relatively high levels
a versar spokesman said he was unable to divulge any further information
van leeuwen said that due partly to the fact europeesche made losses in 1985 and 1986 the 20 pct stake was obtained at below the shares intrinsic value
gluck said the caesars world board once again recommends that shareholders reject the sosnoff offer
oper shr loss nine cts vs profit 12 cts oper net loss 1791000 vs profit 2336000 sales 2429 mln vs 2258 mln year oper shr profit 15 cts vs loss 17 cts oper net profit 2925000 vs loss 3324000 sales 101 billion vs 8756 mln note net includes discontinued operations gain 2437000 dlrs vs loss 1900 mln dlrs in quarter and losses 756 mln dlrs vs 2277 mln dlrs in year
some of them are too sophisticated to convert into financial terms one banking source said
the senate unanimously approved legislation to lift a ban on new construction of natural gas fired power plants and other large industrial gas burning plants
however other producers said they were not aware of this move toward producer solidarity
however the sources said the commission wanted to review the market situation nearer the time before giving its approval
federal guarantee corp fdgco 1st qtr net
the bank previously said m 2 fell 006 pct in january
qtly div 50 cts vs 50 cts prior pay april 20 record march 31
to resign in this manner is highly unusual perhaps unprecedented a monetary source said
net 105 mln dlrs vs 39 mln sales 36 billion vs 26 billion note wholly owned by basf ag of west germany
the extension resulted from a last ditch effort by colombia to salvage the talks which by late yesterday looked perilously close to ending without agreement on quotas delegates said
the volume increase was due mainly to a rise in the us where the brand amstel lite saw great demand and in europe where sales accounted for 255 pct of the total
national westminster said it was responding to general easing in money market rates
the decline will result from low world grain prices leading to shifts to livestock and other crops which could benefit us wheat exports the department said
shr loss 23 cts vs loss 15 cts net loss 1121664 vs loss 640862 sales 37485 vs nil note company in development stage
tridel enterprises inc year net
canadian pacific ltd said fourth quarter 1986 operating profit rose to 916 mln dlrs or 30 cts a share from 507 mln dlrs or 20 cts a share a year ago
fees total two pct with 1 1 4 pct for selling and 3 8 pct each for management and underwriting
under the restructuring plan allis chalmers will sell its solid materials processing and fluids handling businesses
north sea brent today rose over 1700 dlrs with trades reported as high as 1705 dlrs up one dlr
southwestern bell corp said that its planned acquisitions of cellular telephone and paging systems including those of metromedia inc will result in some initial earnings dilution and an increase in debt ratio
it said major buyers last month were singapore japan britain the netherlands malaysia and the us
usda estimates 1986 soviet grain crop at 210 mln tonnes vs 210 in march 192 year ago
it is not in the best interests of the country to have more of the micro electronics business leaving the united states one of the pentagon officials who asked not to be identified told 
yugoslavian steel output will rise by one mln tonnes to 63 mln tonnes a year between 1986 and 1990 under a development program adopted by the yugoslav iron and steel metallurgy association the official tanjug news agency said
i think its the stock price telling us gaf is coming in with another bid said one analyst who values the company at 51 or 52 dlrs per share
the march interim surplus compared with a 170 billion dlr surplus in the same february period
the volume of mark eurobond issues fell in the period march 16 to 31 to 900 mln marks from 137 billion in the period march 1 to 15 the bundesbank said
results for three and nine mths 1986 includes results from july 1 1986 of sperry corp acquired on sept 16 1986 with net income reflecting ownership in sperry of about 51 pct for the months of july and august and 100 pct for the month of sept 1986
to correct abuses in the financing of takeovers proxmire said the legislation would aim at insuring current margin requirments are properly enforced
the 1986 audited figure is eight mln dlrs higher than the unaudited figure the company reported on jan 27
figures for first quarter 1987 west german gnp will be published on june 11 after they were provisionally scheduled for june 4 an official at the federal statistics office said
american television atcma buys time tl unit
amr declined to go into detail on financing arrangements for its order of 15 boeing co ba and 25 airbus industrie twinjet long distance aircraft
kaneb said the jury awarded it and jim walter about 22 mln dlrs for required payments for deliveries through january 1987 plus interest through march 16 the full amount sought and rejected sonats counterclaim of fraud
the department said the bonus awarded was 145900 dlrs per head and was made to tk international inc
they said a further half point cut in base rates to 9 1 2 pct was bound to occur within the next week and rates may shed a further half point soon if markets remain buoyant
but congressional sources said the proposal is unlikely to be approved because of opposition from republican lawmakers and a strong stance by agriculture secretary richard lyng who said freezing loan rates would send the wrong signal to other major grain export competitors and would not achieve the budget savings glickman claims
regarding the potential rights offering qintexs us subsidiary will act as standby purchaser the company said
annual div six dlrs vs 12 dlrs prior pay march 19 record march 13 note 1986 payout includes two dlrs a share extra dividend 1985 payout includes four dlrs a share extra dividend
barclays midland follow natwest base rate cut
the bundesbank may either set a fixed allocation rate and allow banks to tender for the volume as has been the case since it lowered its discount rate january 22 or else it may allow banks to tender for the rate and set the volume itself
barwon also said it made recommendations to the government on how it could purchase the class a shares which can only be held by a philippine national or a firm which is at least 60 pct held by a member of the country
reported high grade tin business in london was confined to end april metal at 4225 stg
however she said the dollar could break out of the range with major surprises such as a worse than expected us merchandise trade deficit due next tuesday
light medium and heavy fuel oil postings are up 150 dlrs a barrel the company said
the bank said the reduction reflected the recent downturn in money market rates the improved economic outlook and adequate liquidity in the second quarter tax rundown period
transcapital financial corps transohio savings bank subsidiary said it plans to close 11 offices in the cleveland area and one in columbus ohio reducing its total number of offices to 81 statewide
chances of direct us iran gulf clash seen low
sharp shareholders will be offered cash shares or a mixture of the two in settlement
french household consumption which rose by 31 pct last year is likely to grow by just 11 pct this year and 15 pct in 1988 it added
year ended march 31 group shr 1883 yen vs 1873 net 2007 billion vs 1847 billion pretax 2214 billion vs 2536 billion operating 3757 billion vs 5157 billion sales 14762 billion vs 15900 billion
us treasury secretary james baker said leading latin american nations have delayed accepting a us compromise proposal on major reforms of the inter american development bank
the selling concession is 3 4 while management and underwriting each pay 1 4 pct
toshiba information systems uk ltd a unit of japans toshiba corp tsbat said it planned to enter the uk business facsimile and key telephone market and forecast a turnover of 100 mln stg by 1990 for its full range of office automation equipment
there are a number of canadian companies that in order to secure substantial contracts in the united states have had to move their head offices out of our country into your country because you have national procurement requirements he said
light signatures will provide coded warranty labels for chryslers replacement parts
the netherlands recorded a flat trade balance in january with both exports and imports totaling 142 billion guilders a modestly lower compared with december but sharply down from january last year an economics ministry spokesman said quoting official statistics
the authorization provides for 34 mln dlrs about 309000 tonnes worth of wheat grade us number two or better except durum which shall be number three or better it also provides for 16 mln dlrs about 73000 tonnes worth of wheat flour
clearwater fine foods inc a canadian company minority owned by hillsdown holdings plc of london has acquired channel foods ltd a cornwall england producer of chilled smoke fish and pate products hillsdown said
it said the condoms are currently sold in spain but have not gone on sale in other european countries
like dated interbank deposits were quoted today at seven 6 3 4 pct
large scale measures are planned to save resources he said
cpc said ajinomoto is also purchasing 50 pct interests in cpcs wholly owned subsidiaries in hong kong malaysia the philippines singapore taiwan and thailand
the traders said the report goes on to say that the profits from the boddington gold with substantially reduce the production costs of the other metals mined at boddington
certainly the movement of the yen is causing some economic turmoil in japan he said
government approval to participate in the icco was delayed by parliamentary debate over the sales tax issue the officials said
japan fund jpn seekers confident of financing
south koreas record 71 billion dlrs trade surplus with the us is bound to diminish as the country switches purchases from japan in favor of us companies trade minister woong bae rha said
output of chemicals and textiles fell by one pct and minerals by two pct
spanish farm minister carlos romero speaking at a meeting of ec farm ministers called for action to help the spanish maize market spanish diplomatic sources said
trade sources said the smaller availability of rubber last month did not raise prices as on previous occasions
ite appears the koreans are shifting back to us corn in light of competitive us prices and uncertain supplies from china argentina and south africa it said
a report from new york yesterday quoted bankers as saying manila will pay 111 mln dlrs over 1987 1988 and 1989
the rate was last adjusted on march 9 when it was reduced to 7 3 4 pct from the eight pct rate set in january
this inflow of funds into the stock exchange occurring also in other countries may continue he said
the unadjusted jobless total including school leavers fell to 323 mln or 117 pct from 330 mln 119 pct in january
ongpin said manila would have to repay about 200 mln dlrs a year when amortisations on the 925 mln dlr loan came up
ameritrust amtr sells two mln shares
shr 87 cts vs 87 cts prior qtr pay may 15 record april 20
maynard oil co moil year loss
glatfelter said it expects to close the deal by may 31
morgan had earlier attempted but abandoned another plan to repackage the westpac securities
producers enrolled 1894764 acres of corn base acreage in the conservation program to take advantage of a corn bonus rental payment that was offered by usda
they said the cut is based on a revision of the trust fund bureau law which should be approved by parliament on march 3 abolishing the 605 pct minimum interest rate on deposits with the bureau
pop radio corp said it has signed a seven year agreement to provide rite aid corp with in store customized disc jocky hosted radio programs resulting in an increase of more than 50 pct in the total number of stores pop now has under contract
prices for californias marker grade line 63 blend have slumped about 20 pct in the last month to 14 dlrs from a high of about 17 dlrs
it said these goals will be accomplished through the establishment of a council of agricultural research which will formulate and institute an agricultural research strategy
however unless the japanese political system can move more quickly to give nakasone some nice present to take to washington on smouldering trade issues he will face a very hostile audience said merrill lynch securities economist william sterling
the conversion price was set at 312 singapore dlrs per share a premium of 505 pct
bundesbank president karl otto poehl said a weaker dollar would be risky and a further appreciation of the mark would damage prospects for sustained west german economic growth
the board also elected phillip frost chairman succeeding john durkin who remains president and chief executive officer
cooper development co said it revised results for the year ended october 31 to a loss of 617 mln dlrs or 233 dlrs per share down from the previously reported loss of 121 mln dlrs or 46 cts per share
that was because the fed supplied far fewer reserves in the market than most economists had expected
projected cost savings in the current atmosphere of try to decrease farm expenditures would also be hard to ignore in the debate to expand the 0 92 application moos said
shell mobil and caltex are pricing 92 octane at 902 cents and spc and bp at 906 cents
dealers said the large banks probably achieved average rates of return on their excess funds of between 375 pct or four pct
farmer marketings of old crop soybeans continue very light with flat prices apparently well below levels they are willing to sell dealers said
the investor group led by rosewood financial inc said it opposes a company recapitalization plan worked out between comdata and mason best co a texas investment firm which last reported holding about 95 pct of the companys stock
atico had year end assets of about 534 mln dlrs
we are waiting for the prime minister to decide what to do
this followed by a week another bear stearns led offering of the same amount of new zealand dollar notes for dow chemical co dow the initial rate was also to be initially set on april 15 and quarterly after that at 340 basis points below the same 90 day new zealand rate
it said amounts due under the notes are payable soleley from proceeds of the sale of securities by jm and non oil and natural gas revenues of dei
i think i would not support a marketing loan now he told the house agriculture subcommittee on wheat soybeans and feedgrains
net investment gains for the qtr were 22 mln dlrs versus a gain of 155 mln in last years first quarter
nortek inc ntk sets quarterlies
temperton noted that a particular focus of bank worry in that period had been the behaviour of uk asset markets
it also said that each year 1575 mln tonnes or 25 pct of chinas fruit output are left to rot and 21 mln tonnes or up to 30 pct of its vegetables
foreign banks have been allowed to operate susbidiaries in norway since 1985
decision also said it consolidated its decision development corp subsidiary into decision data computer corp the unit which designs manufactures and sells its system 3x peripheral products
these agreements are being tested as finance firms expand and s and p said it will review a unit that violates the pact
it said the recommendations also suggested that encouragement be given for the manufacture of value added products from coconut fibre and a market development programme be launched for traditional and value added products
non callable for five years the notes are rated b 1 by moodys and b plus by standard and poors
ranco produces automatic control devices and power controls that regulate temperature pressure time sequencing current fluid flow and humidity
eugene carroll of washingtons private center for defense information cdi think tank
it also said that since the charged required an expensing of previously accrued liabilities the company will experience no resulting material change it its cash flow
conable arrived in indonesia on saturday and has since met 14 indonesian cabinet ministers to review the countrys borrowing needs and the impact of falling oil prices on the country
cabre exploration ltd six mths jan 31 net
according to the departments export sales report covering transactions in the week ended april 2 corn transactions consisted of 140600 tonnes of new sales and changes in destinations for 35000 tonnes
most eligible firms would have to set up special reserves for cp issues called backup lines or be guaranteed by financial institutions to protect investors they said
a member of the government cereals market commission said that as a result of the courts decision the commission would not be able to accept offers from epac in a public tender being held today for the import of 80000 tonnes of corn
ec euratom french franc eurobonds expected
gaf has 416 mln dlrs of debt outstanding
it rejected bids for wheat for later shipment dates they said
the last three ministerial meetings have been held in paris to keep down costs
economists said it was likely that the government would ease foreign exchange controls but only gradually
chi chis chic takes 20 mln dlr charge
but he said japanese traders were in a position to have an idea of the quantity he had sold noting that traders overall had put buffer stock sales at between 25000 and 35000 tonnes
the eight year loan features a call option after four years at 102 falling to 101 1 2 after five years and by half a point each year thereafter
vernes said that the protest involving 770000 tonnes of sugar from french producers alone was prompted by the ecs policy since mid 1986 of offering export rebates which failed to give producers an equivalent price to that they would obtain by offering sugar into ec intervention
argentina could suspend payments on its foreign debt if creditor banks reject a 215 billion dlr loan request to meet 1987 growth targets ruling radical party deputy raul baglini told a local radio station
it would seek fair trade in agriculture seek to discipline restrictive or trade distorting import and export practices to eliminate tariffs subsidies quotas and non tariff barriers
each of the five locals have separate contracts all of which expired april 30 but the main issues are similar
protein said it and millipore intend to establish an interactive relationship no other details were disclosed about the amount of millipores investment in protein
equatorial said its understandings with contel are subject to equatorials ability to restructure a significant portion of its obligations and to obtain concessions from lenders and lessors in particular under its galaxy iii transponder lease
bank of new england corp bkneo 1st qtr
it also said it will have a lower effective tax rate
the secretary general of the african development bank expressed confidence in the institutions ability to handle potential problems with repayment of development financing loans
the companys stock closed at 26625 dlrs a share on friday weestern digital said
a rise in interest rates now would only serve to spark further selling of shares that could ultimately have a major deflationary impact on the real economy they said
he said malaysia agreed to the oil for bridges deal in october after india said it could no longer buy some 700000 tonnes of palm oil a year because of its trade deficit
it has nearly 68 mln shares outstanding
the bwb cites record consumption and an eventual decline in domestic production and says government plans to lower the guaranteed price of wheat from 242 dlrs per tonne to 180 dlrs will contribute to greater import demand the usda said
uk credit business falls in january
31 1988 to pay for the aquisition of allied by campeau
however affandi said volatile world sugar prices the need to save foreign exchange and an already up and running sugar industry were good arguments for continuing the sugar drive
neil nichols said he was surprised at the vehemence of domes statement and denied that transcanada was trying to usurp other bids
a spokesman said if spie batignolles converted all the new bonds it could open the way for the french company to take control of comstock but he gave no other details
properties to be evaluated are located in california colorado kansas oklahoma mississippi montana north dakota texas utah and wyoming along with federal outer continental shelf leases offshore southern california and in the gulf of mexico chevron said
he favoured raising the rates which are currently well below the annual inflation rate of 332 pct
the central bank bought bills outright in band two at 9 13 16 pct comprising 73 mln stg bank bills and 42 mln stg local authority bills
the company said resolution of this disagreement with its auditors came as a result of securities and exchange commission involvement
salomon brothers asia ltd will have one pct while sg warburg and co ltd goldman sachs international corp jardine fleming securities ltd first boston corp merrill lynch securities co and morgan stanley and co inc will each have 05 pct
increased residential construction led to strong increases in the building materials sector led by a 33 pct increase in non metallic mineral industries
gabelli firms have 285 pct stake in digiorgio corp may seek control
agriculture secretary carlos dominguez said he hoped the losses would be offset by the expected increase in output in other normally more productive areas not affected by the dry spell
india imports about 12 mln tonnes of edible oils a year
creditanstalt austrias largest bank holds majority interests in 10 medium sized and large austrian companies
in a filing with the securities and exchange commission taco bell said it bought 119867 calny common shares on october 15 and 16 at 1075 dlrs a share
hungary has announced sharp price increases for a range of food and consumer products as part of its efforts to curb a soaring budget deficit
the bank has established a five billion dlr swap limit with the us federal reserve and another 25 billion mark and 200 billion yen limit with the west german and swiss central banks according to the sources
vernes would not say what form any compromise between the producers and the ec would take but he reaffirmed the long term desire of producers to export to the world market providing they were not losing money by doing so
it is my hope that delegations will go back home and try to ratify the new agreement he added
the 300 mln dlrs will go to el salvador honduras guatemala and costa rica while another 12 mln dlrs was allocated to replace the earthquake damaged us embassy in san salvador
kraft kra completes acquisition
xuto described the negotiations as by no means easy and we often faced problems the new pact is due to enter into force provisionally when ratified by countries accounting for 75 pct of world net exports and 75 pct of net imports
shr profit 144 dlrs vs profit 83 cts net profit 390 mln vs profit 225 mln sales 8161 mln vs 8653 mln year shr loss 95 cts vs profit eight cts net loss 256 mln vs profit 2223000 sales 2142118 vs 2234768 note current year net both periods includes prtax provisions for restructuring operations of 4868000 dlrs in quarter and 381 mln dlrs in year
house ways and means cmte finishes work on bill to toughen trade laws
he calculated salary savings as a result of the strike at 50 mln stg and while loss of income on telephone calls should be limited revenue probably dropped on peripheral activities
indonesia and malaysia asias two biggest commodity producers are expanding cocoa output and are both outside the international cocoa organization icco officials have said malaysian production is expected to total 150000 to 155000 tonnes in calendar 1987
honeywell inc said a gain of 201 pct in its 1987 first quarter operating earnings was the result of cost cutting efforts which began last year
uk defence secretary george younger is expected to announce the governments decision on the sale of state owned arms manufacturer royal ordnance today parliamentary sources said
lucas industries convertible bond increased fixed
the sales together with the previously announced sale of atcos australian operations will gross 114 mln dlrs and result in an after tax gain of 31 mln dlrs which will be reflected in atcos fiscal year results
these ranges were set in februarys stabilisation agreement reached here by us treasury secretary james baker and the finance ministers of japan germany france britain and canada
they said fear of hurting the dollar will cause the fed to be cautious in lowering interest rates further
the association said it is asking for a five per cent cut in wages for the next three years reduced crew levels and the power to restructure crew dispatching
live hogs and frozen pork bellies posted sharp gains on the chicago mercantile exchange while live cattle were moderately higher
the spokesman declined to comment on whether chrysler was interested in acquiring control of lamborghini or if the two sides were close to an accord
standard and poors corp said debt ratings on 840 mln dlrs of debt of baker international corp and hughes tool co remain on creditwatch
over the next two days it expects 4 03 4 04 due 36 28 scheduled to transit 38 38 end day backlog 28 18 average waiting time tomorrow super tankers regular vessels north end 19 hrs 8 hrs south end 20 hrs 16 hrs
shr loss five cts vs loss 17 cts net loss 154654 vs loss 419606 revs 517699 vs 374108 year shr loss 28 cts vs loss 56 cts net loss 821979 vs loss 1368591 revs 1650657 vs 1285473
but a report that the soviet union planned to reduce the price of its crude oil exports may pressure the market friday said nauman barakat petroleum analyst in new york with smith barney harris upham and co
the bankers said nmic itself has recently filed with the securities and exchange commission sec for placing the company under receivership and the suspension of its debt payments in order to protect it from threats of foreclosure
fees comprise 1 1 4 pct selling concession with 5 8 pct management and underwriting combined
but the combination of the two companies will clearly present a much stronger front he said
caesars world caw files suit against sosnoff
1985 net excludes 32 ct shr loss from discontinued operations
saudi arabia hopes to increase the volume of its oil exports to japan through expanding bilateral trade saudi arabian interior minister naif bin abdul aziz said
while consumer countries are welcome to participate they cannot dictate quotas which are very difficult to allocate as different objective criteria achieve different share outs of quota dauster said
controversy surrounding us backed reforms in the inter american development bank iadb underscores the mounting challenge to washingtons current debt strategy according to latin american officials and delegates to the iadb meeting that begins here today
temples were unchanged at 34 mln boxes
unicorp american corp said it has signed a definitive agreement for the previously announced acquisition of lincoln savings bank
shr 27 cts vs 29 cts net 13555000 vs 14635000 revs 104606000 vs 110311000 avg shrs 472 mln vs 471 mln 12 mths shr 410 dlrs vs 366 dlrs net 226653000 vs 186790000 revs 14 billion vs 13 billion avg shr 471 mln vs 471 mln note latest 12 mths net includes gain 46 cts per share for sale of virginia service territory to dominion resources inc d
the planned psbr for 1987 88 was set at 40 billion stg
heagerty chairman and chief executive officer of crossland savings fsla in bradenton fla will serve in that capacity for the new subsidiary resulting from the merger
this was considerably above market expectations for a 650 mln dlr rise
terms were not disclosed
hilton hlt 1st qtr earnings up about 37 pct
purchase of part of champlins operations also fits a profile which pdvsa officials have said previously they looked for in any acquisition
accepted bids ranged from 588 pct to 593 pct and 80 pct of bids at the high or stopout rate were taken
the wheat four is for shipment march may and the bonus awarded was 11905 dlrs per tonnes and will be paid in the form of commodities from the ccc inventory
parent bank tax payment rose to 244 mln marks last year from 233 mln in 1985
the industrial enterprise project estimated to cost 3503 mln dlrs aims to support companies threatened by high inflation and adversely affected by increased competition brought about by bank supported trade liberalization measures
funaro says creditors willing to help brazil
1985 net includes gain of 22 cts from discontinued operations
india plans more bombay offshore oil wells
net profit 3271 mln guilders vs 3075 total revenue 797 billion guilders vs 87 billion
payless cashways pci sees better first qtr
klm royal dutch airlines klmas said it is negotiating for a minority stake in a british and commonwealth shipping plc bcoml courier service in a transaction which might include a convertible loan issue
fadhil al chalabi opec deputy secretary general also addressing the seminar added that discipline was still needed to prevent violent fluctuations in the oil market
frances right wing government is facing growing pressure to modify its economic policies after revising down its 1987 growth targets and revising up its inflation forecasts for this year
ministry economic adviser qazi alimullah told a news conference that before recent unseasonal rains and hailstorms damaged the wheat crop gdp growth was calculated at 704 pct compared to 725 pct in 1985 86he said the figure might now slide down a little to around 68 or 69 pct
it also said it decided to sell its claims adjusting and admininistrative operations and its automobile dealer insurance unit creating a reserve of about nine mln dlrs in the fourth quarter 1986 for the sale
at the previous auction the government offered eight mln dlrs
senate seeks us probe of canadian corn levy
as previously announced us lines sa will transfer its south american service to crowley maritime corp s american transport lines inc subsidiary in return for a fixed lease payment for the four lancer class vessels and a participation based on american transports south american revenues
the selling concession is one pct while management and underwriting combined pays 1 2 pct
earlier today however the securities and exchange commisssion ordered dixons to extended its tender offer until march 24
the chinese group enjoys a high level of independence from pekings central government and has extensive overseas investments
qtly div 51 cts vs 51 cts pay april 9 record march 25 santa anita realty enterprises inc
philip crosby associates inc pcro 4th qtr net
shr loss five cts vs profit six cts net loss 1200000 vs profit 1400000 nine mths shr profit 100 dlrs vs profit 84 cts net profit 237 mln vs profit 199 mln note year ago results are pro forma since the company was created in march by the transfer to a master limited partnership of all domestic assets of petrolane incs liquefied petroleum gas division
fcoj movement 4496533 gallons last week
the central bank purchased bills outright in band one at 10 3 8 pct comprising two mln stg of local authority bills and 14 mln stg of bank bills
they said the fed would probably supply temporary reserves indirectly by arranging one to two billion dlrs of customer repurchase agreements
the spokesman would not say whether the board is planning to vote on the understanding between american express and nippon life
turkish foreign ministry spokesman yalim eralp told reporters today this was unacceptable because of preconditions athens had attached
kenya was already spending over 27 pct of its budget on servicing its debts and last year it was a net exporter of capital for the first time in its history he added
sales look soft because of the easter shift but underlying business is better than the numbers indicate said bear stearns analyst monroe greenstein
garcia said the government would soon install a two mln dlr treatment plant at tomaque
die welt said the interview with bangemann had taken place at a meeting of his free democratic party fdp in darmstadt last friday adding that it had a tape recording of his comments which it would publish tomorrow
the ecs affairs in china are currently looked after by whichever country holds the groups six monthly rotating presidency now held by the belgians until the danes take over in july
the un food and agriculture organisation fao said global wheat and coarse grain output was likely to fall in 1987 but supplies would remain adequate to meet demand
proceeds will be used for expansion and acquisitions
the us treasury said it will sell 132 billion dlrs of three and six month bills at its regular auction next week
the company said it will grant the underwriter bear stearns and co inc a 30 day option to buy up to 75 mln dlrs principal amount of additional debentures to cover overallotment
dutch soymeal imports fell to 75500 tonnes in january from 97070 in december and 120228 in january 1986 central bureau of statistics figures show
that decision agreed in outline last december after virtually nine days of non stop negotiations was hailed as the most significant step yet in the reform offensive but has since run into difficulties over the fine print
for its fourth quarter ended december 31 1986 rospatch reported net loss 2649000 or 110 dlrs a share compared a loss of 627500 or 35 cts profit for the 1985 period
qtr ends jan 31 shr 23 cts vs eight cts net 309963 vs 110356 revs 2503451 vs 1351076 nine mths shr 62 cts vs 25 cts net 851776 vs 331666 revs 6739351 vs 4107713
gross foreign purchases of japanese shares rose to 1364 billion dlrs in february from 954 billion in january while gross sales rose to 1376 billion from 1022 billion
ual rose 1 5 8 to 73 5 8 on volume of more than two mln shares after trading with little upward movement earlier in the session
but its net loss last year taking account of that depreciation as well as currency fluctuations was 116 billion francs after a 105 billion loss in 1985
the committee cancelled a tender for another cargo because the prices offered by us suppliers were too high he added
rpt insituform of north america inc insua net
because of the relatively higher level of domestic prices it has become difficult to service exports de guzman said adding that most exporters are taking a wait and see attitude
this weeks estimated arrivals total 194000 tonnes of which 45000 are grains oilseeds and 149000 derivatives
investors risk in corporate default has been checked by the very system that is slowing the smooth growth of japanese credit rating agencies the managers said
company chairman gerrit van driel told journalists at the presentation of wessanens 1986 report he already expected 1987 first quarter profits to show an increase
yet timber a five billion dlr a year industry is not necessarily the most direct economic product of the forests and nations must be educated in how best to farm them said peter kramer world wildlife fund wwf conservation director
the ministers agreed that under this extensification scheme farmers would qualify for compensation if they cut output of specific products by at least 20 pct
the company said the present rate on gnn common is 43 cts per share
houston oil trust ho halts royalties
managing underwriter for the issue is shearson lehman brothers inc
the us current account deficit widened to a record 3684 billion dlrs on a balance of payments basis in the october december fourth quarter of 1986 from a revised 3529 billion dlrs in the third quarter the commerce department said
royal bank of canada 1st qtr jan 31 net
liffe liquidity could be higher than at the simex where average daily volume in treasury bonds dropped to 165 in february from 1286 last october when the bonds were first introduced
the two carriers serve five point in common los angeles san diego san francico phoenix and tucsonm the agency said
egypt japan and iraq were the major wheat buyers for delivery in the current year while sales to china decreased by 30000 tonnes for the current season but increased by 90000 tonnes for the 1987 88 season which begins june 1
together with expected progress in commercial bank discussions with argentina and we hope brazil this should add up to substantial new lending for the major latin debtors in 1987 baker wrote
jamaica will make new drawing under imf program
europeans in favour of the tax say it would be to their advantage economically but that is not correct because we would hit back nspa chairman jack reed said
banque paribas which arranged a 220 mln dlr loan for ecuador last year to pre finance oil exports wants to adjust the terms of the facility to help the country recover from a devastating earthquake bankers said
it hit a new record low of 14820 yen yesterday
previously the fed said consumer credit rose 536 mln dlrs in january
uk intervention board details ec sugar sales
frank b
alaska air group inc alk qtly dividend
in the 1986 tax season block prepared 9215300 us tax returns up 15 pct over the previous year
but he tried to urge business circles to prepare for the forseeable economic future a high won era south korean manufacturers who have insisted the won should not rise more than seven pct this year have said they plan to ask the government to slow down its appreciation against the dollar
the other floating rate class totals 1324 mln dlrs and has an initial rate of 6975 pct that will be reset quarterly at 60 basis points over three month libor with a 13 pct cap
german call money drops back at month start
weston inc wstna offering of 30 mln dlrs of convertible subordinated debentures due april 15 2002 through drexel burnham lambert inc
lanesborough corp is raising 50 mln dlrs via an offering of senior subordinated notes due 1997 with a 12 3 8 pct coupon and par pricing said sole manager first boston corp
analyst comeau said supermarkets general may seek a combination with another supermarket company
lichtblau said the us depended on foreign suppliers for 33 pct of its oil in 1986 and predicted that would increase to 40 pct by 1990
last week the forces of president hissene habre of chad supported trained and armed by paris and washington scored a major success by pushing libyan troops out of their last bases in northern chad
in addition to issuing euro notes leucdia may also draw under the ruf by use of a so called swing line which provides same day availability of funds of up to 25 mln dlrs
tesco issues 100 mln stg convertible bond
industry sources said the easiest plant to dispose of would be fos sur mer because it is a single refinery while the port jerome refinery is attached to a wider complex comprising a petrochemical plant and a lubricant production plant
the debentures w issued in 1974 will be redeemed at a price equal to 100 pct of the principal amount plus accrued interest
private consumption will grow by three pct in 1987 and two pct in 1988 against 375 pct in 1986
analysts said based on earlier usda projections the harvests should have been five to seven mln boxes larger than they were
feb one end oper shr 89 cts vs 131 dlrs oper net 3348000 vs 4885000 sales 1268 mln vs 1201 mln year oper shr 167 dlrs vs 215 dlrs oper net 6302000 vs 8013000 sales 3809 mln vs 3521 mln note prior year net both periods excludes gain 1998000 dlrs from reversion of overfunded pension plans
during february and the early part of march this speculation caused importers to bring forward their payments and exporters to delay as long as possible the inward remittance of export receipts resulting in a significant slowdown in net foreign exchange inflows he added
that could be done under the governments proposed banking bill now moving through parliament
telefon ab l m ericsson ericst said it would sell its office machinery unit with a turnover of two billion crowns to norways norska design funktion a s ericsson information systems of which the unit is a part said in a statement a decision would be reached in november about when the norwegian firm would take over the operation
in that period it lost 284 mln dlrs on sales of 2624 mln dlrs
gross fees are 2 1 2 pct with one pct for management and underwriting and 1 1 2 pct for selling morgan stanley said
a government commission that controls 51 pct of san miguel corp smc stock will increase its nominees on the firms 15 member board to nine from six
now with demand for products rising and efficient operations exxon should show superior earnings mlotok said
a statement by williams said it was confident of the merits of the proposed merger and it had therefore taken care to propose from the outset the right terms including a full cash alternative
heart federal savings and loan association said its board declared a two for one stock split payable april 30 to holders of record april 15
us lines far east operations comprise offices in hong kong singapore manila busan seoul tokyo yokohama kobe and osaka burnside said
garcia was scheduled to return to lima tomorrow
jucker said he knew shareholders would find this radical elimination of the mortgages of the past painful but said the foundation had been laid for a successful new company strategy
saudi crude oil output last month fell to an average of 35 mln barrels per day bpd from 38 mln bpd in january gulf oil sources said
the issue is guaranteed by deutsche bank ag and is callable at 100 3 8 pct after seven years declining by 1 8 point per annum to par thereafter
unemployment has fallen to under three mln for the first time in over three years
after the fed declined to assign a 1987 target growth range to the wayward m 1 money supply measure last week little attention was paid to a steeper than anticipated 21 billion dlr jump in the week ended february 16
japans liberal democratic party ldp has drawn up a detailed plan calling for large tax cuts and an increase in government purchases of foreign goods the head of the committee working out the plan junichiro koizumi said
the relatively small quantity remaining in the authorities hands was quickly sold out on a small upturn in demand early today
however he complained that congress had not yet approved those measures
creditanstalt arranges 100 mln stg cd program
bank fuer gemeinwirtschaft ag bkfgf bfg partial operating profits fell to 1826 mln marks in 1986 from 3137 mln in 1985 new majority shareholder aachener und muenchener beteiligungs ag amvgf amb said
traders rushed into the spot or unlimited contract to offset those moves analysts said
the debentures are convertible into the companys common stock at 1406 dlrs per share representing a 25 pct premium over the stock price when terms on the debt were set
the council of ministers approved petroleos de venezuelas planned purchase of a half interest in the champlin petroleum refinery at corpus christi texas government sources said
the dollar mark and sterling started this week even lower heightening the chances of lively foreign demand for guilder denominated paper dealers said
malaysian crude palm oil output falls in february
standard said that fees charged will include an application fee commitment fee and out of pocket expenses such as title work survey recording fees and private mortgage insurance
the suspension of ecuadors crude oil shipments after an earthquake cut an oil pipeline will last at least four months a senior energy ministry official said
rep
commonwealth said it is continuing talks with columbia but has also opened talks with other interested parties
staleys investment in simsa no longer fit its overall coporate strategy and an agreement to sell the interest was completed in may it said
the report said the government continues to promote sugarcane production through its smallholder intensification program and a relatively high guaranteed price to sugarcane producers
yeutter said at least people seem to be going down the same road but how that translates ultimately into negotiations is another matter entirely there seems to be an understanding of the need to deal with the problem quickly and a more common understanding of how we are going to get from here to there yeutter said
following its tender offer in november 1986 sb holding holds 552 pct of vernitron a maker of electromechanical components and related products and services
in exchange for the cable and wireless hong kong capital hong kong telecommunications will issue 418 billion new shares to cable and wireless plcs cable and wireless far east ltd
reed says it has no comment on harcourt rumours
more
the court however ruled that apex oil could pursue anititrust and commodities market manipulation allegations against belcher oil co a unit of coastal corp cgp apex oil primarily a trading company charged that several companies including belcher and nymex conspired to force it to deliver heating oil it had sold on the mercantile exchange knowing apex could not make full delivery
the runup in crude oil will be a short lived phenomenon said carroll mcentee and mcginley analyst brian singer
for its fiscal year ending august 1986 monfort reported 251 mln dlrs in earnings on sales of 16 billion dlrs
theyve been in again this morning selling piecemeal whenever they think necessary a senior dealer at an oslo bank who declined to be identified told 
merrill lynch will be the note and paper dealer and sumitomo trust and banking co ltd will provide the loc
most refineries are now upgraded to refine heavy oils and the price differentials between heavy and light crudes are a lot narrower today osborne said
ivorian chosen cocoa council executive director
the bank of england said it provided the money market with 265 mln stg in assistance this morning
oppenheimer sells six pct cyclops cyl stake
first boston co managed the deal
nogales said bolivia would offer to buy back the debt at a market price
sergey frolov chief economist at amtorg trading corp an agent for soviet trade organisations and industries told a us ussr business meeting the soviet union produces few items that western nations want
ministers also called on the ec commission to prepare a report on us japanese trade for july this year to enable them to take appropriate action where necessary
he declined to comment on the allegations in the lawsuit
several firms including toyota motor corp
they said this was despite the fact that the commission had to accept 785000 tonnes of sugar into intervention from operators protesting that rebates are too low
baker yesterday moved to defuse speculation he was talking the dollar down telling a cable news network interviewer and a senate committee he stood by the paris agreement
ust corp utsbo 1st qtr net
of this total 78 mln dlrs is due on exchange of contracts on april 30 and 69 mln on july 7 subject to any regulatory approvals being obtained bond said in a statement
aziz said the current 1986 87 crop harvesting of which is just beginning is expected to yield around a record 145 mln tonnes
pre tax profit 1324 mln stg vs 1327 mln
the proposal said transactions in all these contracts must be conducted on the same market so participants can readily engage in arbitrage between various financial instruments
the shares involved in the proposal were part of the block of 38 mln shares owned by the united coconut planters bank ucpb and sequestered by the government
he said the well had an initial flow of 150000 cubic meters of gas and 220 barrels of oil per day
in the past month the rupiah has fallen five pct against the yen
federal realty issues 75 mln dlr convertible bond
bank of japan buys dollars shortly after opening at around 14530 yen dealers
the ministry of international trade and industry miti will revise its long term energy supply demand outlook by august to meet a forecast downtrend in japanese energy demand ministry officials said
2nd qtr march 31 shr 57 cts vs not given net 790874 vs 628020 1st half shr 115 dlrs vs not given net 1588985 vs 1073163 note company recently went public
japan wholesale prices fall 01 pct in february
the report did not disclose a price for the sale of gelcos canadian unit
fees comprise 1 1 2 pct selling concession and one pct management and underwriting combined
the oecd said frances economic situation has deteriorated somewhat during the early months of 1987
the effect should be to rule out any us interest rate rise
the quick changing nature of the financial market meant these ratings should also be continually updated he said
subcommittee chairman dan glickman d kans said his committee would be looking at the certificate program later this year and studying the general accounting office report on certificate costs
balladur has had contact with g 7 ministers
south american producer countries supplied 97 pct of west german requirements with chile shipping 229176 tonnes 1985 182959 and peru 210513 147014 tonnes
royal dutch rd unit to cut heating oil price
deutsche bank issues 150 mln australia dlr bond
the recent remark by us treasury secretary james baker that the paris accord did not set any target ranges for major currencies has cast a shadow on the agreement said koji kidokoro general manager of mitsui bank ltds treasury division
the inverse rate tranche totals 713 mln dlrs and has an initial rate of 10903 pct
siemens rebutts us criticism on cgct offer
iraq said it had foiled a three pronged thrust some 10 km six miles from basra but admitted the iranians had occupied ground held by the mohammed al qassem unit one of three divisions attacked
but ministers failed to agree on new trade deals with canada and japan and are due to study these again the officials said
hunt manufacturing co hun sets payout
nippon life is japans largest insurance company and the worlds biggest institutional investor analysts said
agricultural trade issues between japan and the us include japanese import restrictions on 12 farm products
earlier this week armtek announced the sale of its industrial tire and assembly business division to dyneer corp of scotsdale ariz
waste management inc said it received notice of early termination of the hart scott rodino waiting period for its 270 mln dlr takeover bid for chemlawn corp chem the waiting period was terminated march 11 waste management said
this overall increase would also be due partly to an increase of nominal share capital by 100 mln marks to 350 mln marks
according to pdvsa venezuelans will occupy such key positions such as treasurer and vice president for manufacturing
manila is being more cautious and aims at soft borrowings which it is hoped will be outstripped by annual growth rates and eventually result in the country emerging from debt in five or six years philippine foreign debt is currently 278 billion dlrs
underwriters noted that ubs acting as sole underwriter won a competitive bidding for 250 mln dlrs of 30 year debentures of gte corp gte just this morning
belgian total money stock rose to 11404 billion francs at the end of 1986 from 11154 billion at the end of the third quarter of last year and 10550 billion at the end of 1985 belgian national bank figures showed
dotronix dotxo completes acquisition
the proposed bonus and an increase in authorised capital to one billion one dlr par shares from 600 mln will be put to shareholders for approval at an extraordinary general meeting on may 26 the anz said in a statement
producers are taking measures for increasing their production when the prices are profitable he said
cade industries inc cadeo 3rd qtr net
tim penny d minn and byron dorgan d nd would raise target prices for wheat to 500 dlrs per bushel and for corn to 350 dlrs
call money and period tariffs were only fractionally changed this week and were seen sustaining their stable levels since no dramatic changes in the money market debt currently around 1025 billion guilders are expected
dixons today called cyacqs higher 9250 dlr a share offer for cyclops highly conditional
a merger approved by the allegheny board in which remaining common preference and preferred shares would be acquired at the tender prices is to follow the offer
asked whether he believed the markets would test the paris currency accord stoltenberg did not comment specifically but noted that much of what had been discussed in paris had not been published
sumita said he could not find any specific reasons behind the fall of the dollar to a record low against the yen yesterday
they had cancelled last week he declined to identify the company
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
on friday twa said it had already acquired four mln shares or 15 pct of usair
japanese people dont like fighting
the central bank bought dollars through tokyo brokers just before and after the market opening the dealers said
rite aid corp rad sets dividend
hogg said members of some markets appear to believe that information restrictions protected their interests
a seven year credit facility for salomon sa the french ski bindings and boots maker will have a facility fee of 75 basis point banking sources said
nippon life insurance cos 538 mln dlr purchase of a 13 pct stake in shearson lehman brothers inc brokerage unit is a shrewd move that other japanese insurers are likely to follow securities analysts said
ny tankers april 1 citgo took west virginia 62000 tons dirty april 9 caribbean to us gulf worldscale 63
polaroid prd up on reaffirmed opinion
the bank of england said it provided 24 mln stg help to the money market in the morning session
the borrower is an optical disk joint venture between philips gloeilampenfabrieken nv and ei du pont de nemours and co
imports totalled 14126 billion escudos and exports 10761 billion compared with 13265 billion and 9717 billion in 1985
the company said the divestiture follows a resolution of its board in february that cited increased political and social unrest within south africa and the refusal of the south african government to abolish the apartheid system
however the authorities will hope that at least a proportion of the buying reflects long term investment
diaz said new york investment bank allen and co inc told the pcgg it was interested in tendering for all outstanding smc stock with the subsequent dispersal of 60 pct of the stock to filipino investors to comply with investment laws
however pesch entered his second offer with representation from donaldson lufkin and jenrette securities and security pacific merchant banking group
he said the isda had been working on a code of conduct for swap dealers as part of its self regulatory effort
campeau said it expects to sell its remaining allied divisions in the near future
the government is said to be in favour of joining the pact but local cocoa growers and traders told they are against the idea because certain provisions in it may be to their disadvantage
the company said dividends on the preferred being offered in the second proposal would be paid in additional preferred in the first three years and the preferred would be redeemed in years 12 and 13
budapest bank rt has become the first of the commercial banks operating since january to issue bonds to expand its resources the official hungarian news agency mti said
the french plan is certain to be discussed by the ministers in detail during next weeks meetings and will undoubtedly be embraced by the developing countries
uk average gdp rises 26 pct in 1986
tax reform will also change foreign tax credit limitation rules and although the impact will not be material in the short term the act will require for the first time that income from certain foreign subsidiaries be taxable the report said
federal reserve board vice chairman manuel johnson said that maintaining price stability was critical to achieving non inflationary economic growth in the world and said that progress was being made
the notes have an 8 5 8 pct coupon and were priced at 9980 to yield 145 basis points more than comparable treasury securities
while gold transactions in switzerland decreased the volume of trades outside the country particularly in london and luxembourg increased between 10 25 pct hofer said
however taking into accounts effects of the shift in exchange rates reserves actually fell in value by 19 billion
toronto dominion bank nassau branch is issuing a 40 mln australian dlr eurobond due may 15 1990 paying 14 1 2 pct and priced at 101 3 8 pct lead manager hambros bank ltd said
morrison morr adopts shareholder rights plan
bernstein and co to raise his earnings estimates for the company to 128 dlrs a share in 1987 compared to his previous estimate of 120 dlrs a share
a chrysler spokeswoman would not say whether some problem had cropped up in the talks
usda has confirmed one mln tonnes of corn sold to the soviet union but both us and soviet analysts have said the purchases stand at 15 mln tonnes
rains promise bountiful crops in ethiopia
the company said the warrants will be offered solely to investors in the painewebber geodyne energy income program ii
public service co of nh pnh omits dividend
it also said the cash payment is subject to proration
the company said domestic earnings in 1986 improved slightly despite strong competition due to efforts to avoid taking on orders which would not break even
john hancock units dump stake in price pr 
fiscal 1986 net includes special charges 247 mln dlrs in quarter and 372 mln dlrs in year from worgroce reduction costs revaluation of south african investment reversal of investment tax credits and othe4r items
they gave no figures
proceeds from the sale will be used for general corporate purposes the company said
genova inc gnva 1st qtr dec 27 net
rochester telephone corp said it completed its acquisition of the enterprise telephone co based in new holland pa in exchange for stock valued at 263 mln dlrs
world bank extends 241 mln dlrs in african loans
senior engineering group plc said it reached agreement with cronus industries inc to acquire the whole share capital of south western engineering co for 125 mln dlrs cash
southmark sm to issue american realty rights
should britain decide to act against japanese financial institutions it would most likely focus on the smaller rather than larger ones to minimise any risks to its role as a global business centre government sources said
payment date is may 12
moodys cited concerns over the asset quality of standard chartered bank
major us pipeline may be closed several days
valley resources inc said its board declared a three for two stock split and raised the quarterly cash dividend on the pre split shares to 42 cts from 38 cts
mark iv industries inc said it has started the 25 dlr per share tender offer for all shares of conrac corp that it announced yesterday afternoon
this oil discovery will be followed up as soon as possible by further seismic surveys and drilling
perry drug stores inc pds 1st qtr jan 31 net
the union official said the strike had halted a total of 158 vessels including 50 in brazils main port santos and about 50 more in rio de janeiro
imperial continental gas association icgsl ic gas said its board is not making a recommendation on the partial tender offfer at 710p per share announced by tractebel sa and groupe bruxelles lambert sa at the same time however the board would not recommend a general offer for all the shares at a price of 710p the statement added
british gas repays 750 mln stg debt
london traders were also reluctant earlier to predict the likely tonnage to be authorised for export in view of the on going dispute between the commission and european producers over the threatened action by the producers to move over 800000 tonnes to intervention
danish credit downgrading not dramatic minister
flax was 51 pct tillering and canola was 58 pct tillering
despite remaining differences delegates remained confident a buffer stock accord would be agreed to by friday when the council session ends but certain technical points need further clarification the delegates said
cascade said the agreement also includes the exclusive rights to trade through duty free channels worldwide the designer gres accessories
president reagan today is to announce a decision on tough new tariffs on japanese exports to retaliate for what he calls japans failure to end its unfair practices in semiconductor trade
fed sets two day system repurchases fed says
walbro estimated income for the quarter will exceed first quarter 1986 income which was 1953000 dlrs or 66 cts a share by at least 40 pct
qtr ended jan 31 shr one ct vs nine cts net 29000 vs 349000 revs 7892000 vs 4721000 note nine mth data unavailable
many futures commission merchants predicted sell orders would accelerate in the event the price approached the bottom limit
it said the certificates will be classified as zero coupon bonds or promissory notes with no interest but priced at a considerable discount from their redemption price
petro canada the state owned oil company said it raised the contract price it will pay for crude oil 64 canadian cts a barrel effective march six
the current annual payout is 176 dlr per share
swiss sight deposits fall 288 billion francs
darman called for a top level negotiation between the white house and congress on a budget compromise that would include asset sales some excise taxes cuts in middle class entitlement programs a reasonable steady rate of growth in defense and reform of the budget process
poland has a 335 billion dollar debt to western creditor countries and commercial banks and has already indicated it will not be able to meet interest payments this year after falling behind for the past two years
payment is april 10
shr loss four cts vs loss six cts net loss 92917 vs loss 104038 revs 219 mln vs 5091000
over the weekend criticism by baker of the tightening in west german monetary policy had prompted a sharp fall of the dollar on speculation that louvre cooperation had ended
the company said it presently has 24614352 common shares outstanding
deutsche bank ag joint chief executive friedrich wilhelm christians said he believed the louvre accord on currency stability was still intact
they the investors became more or less quiet after 10 oclock 0100 gmt he said
ifo also predicted stagnation in the automobile industry in 1987 after a particularly successful 1986 when production rose 51 pct
however the market may be able to absorb lower uk interest rates as it has done when other countries have cut their discount rates and extend the pounds rally sloane said
talks on coffee export quotas at the international coffee organization ico special council session will resume at noon gmt today following a last minute decision taken early this morning to extend the meeting 24 hours ico officials said
brazil is living through a crisis at the moment and it is not conceivable that exports be hit he said
bullet loans have only been permitted in the dutch market since january 1986 as part of a financial liberalization plan
under the amended offer bombay will issue about 900000 shares currently 72 mln dlrs
nakasone hard pressed to soothe us anger on trade
asked whether audi would pay a dividend to vw to help the parent company overcome its currency losses habbel said audi would ensure vw got a share of profits
us sales of foreign securities rose to 27 billion dlrs from 300 mln dlrs in the third quarter because of a sharp selloff of foreign stocks and bonds the department said
shr loss 161 dlrs vs loss 47 cts net loss 192 mln vs loss 5716000 revs 464 mln vs 110 mln year shr loss 201 dlrs vs loss 29 cts net loss 245 mln vs loss 3548000 revs 1502 mln vs 244 mln note 1985 net includes tax credits of 7336000 dlrs in quarter and 102 mln dlrs in year
in london yesterday a cable and wireless spokesman said the latest reported proposals are unacceptable
light showers in southern sichuan increased topsoil moisture for corn planting which likely is off to a slow start due to earlier dryness it said
affirmed were atts aa debentures and preferred stock and a 1 plus commercial paper and pacific telephone and telegraph cos aa debt which att assumed at divestiture
opec production curbs have boosted world oil prices from a 13 year low of around eight dlrs a barrel last august to near 18 dlrs after announcement of the december pact
ico talks on quotas last month broke down after eight days when producers and consumers failed to reach agreement
sumitas statement was issued after the dollar slipped below 150 yen to hit a record low of 14840
elements in the fourth quarter gdp rise included falls of 06 pct and 02 pct in private and government final consumption expenditure respectively the bureau figures show
ecuador had already suspended payments to private foreign banks holding two thirds of ecuadors 816 billion dollar foreign debt from last january due to a cash flow squeeze stemming from a slide in world oil prices last year
nickles and sen
earlier this month the group said that tentative merger talks with the high street pharmacist underwoods plc had been called off and recently announced a 192 mln stg recommended offer for charlie browns car part centres plc the b and q do it yourself centres raised sales by 31 pct and retail profit by 37 pct with its pretax contribution of 455 mln making it the largest single component
he said that for the us trade deficit to continue improving in the next two years we need more policy actions across the entire front of us trade relations including canada and the newly industrialized countries nics in particular he said efforts by south korea and taiwan to strengthen their currencies were still disappointing
the city of west berlin owns 74 pct of berliner bank and the rest is held by small shareholders
the dollar opened at 14095 yen and fell to a low of 14040
talks with commercial banks will take place at a later date
zaires structural adjustment program supported by a 67 mln dlr ida loan and a 94 mln dlr african facility loan hopes to lay the basis for sustained economic growth the bank said
we call on greece to come and engage in a dialogue with us let us find a solution as two neighbours and allies should he said
horn and hardart co hor 4th qtr net
moodys investors service inc said it affirmed the ratings on 12 billion dlrs of debt of chrysler corp and its unit chrysler financial corp
earlier toshiba information systems uk ltd said it wanted to enter the british business facsimile and key telephone market
qtr 1986 includes a seven cts per shr gain due to net after tax foreign currency exchange effect
the national thermal power corp ntpc was the first government company to issue the bonds to raise one billion rupees in january last year breaking the monopoly of private companies on the capital market
vag kredit bank gmbh the credit bank subsidiary of volkswagen ag vowgf said it was optimistic for 1987 after raising turnover and balance sheet total in 1986
sikes corp ska 1st qtr may 31 net
quantech electronics corp said it is investigating available means of raising additional funds needed to finance continuing operations but there is no assurance that it will succeed
fcs said merger negotiations with this other company have been continuing since late august
this will make emery a bigger factor in the light weight delivery business but it will not make them a power house said douglas arthur of kidder peabody and co
the market also seemed to have overestimated the amount of sterling the bank of england bought at the end of may to smooth the pounds sudden downturn while some of the intervention reported in may probably occurred in april they said
on monday bally said it filed with the securities and exchange commission for an initial offering of 24 pct or 58 mln shares of the units common stock at 13 15 dlrs a share
chemical new york corp said its first quarter profits fell by 16 pct largely because it placed 104 billion dlrs of loans to brazil on non accrual
singapore oil companies to set own pump prices
auto sales accounted for the lions share of total february sales rising 144 pct
millipore mili acquires equity in protein
the latin american issue at least on the surface appears to be a new danger said an aide who asked not to be named
bankers said there are first signs that the number of non performing loans has stopped growing as the decline in the saudi economy bottoms out
bahrain launched a weekly tender for two mln dinars of 91 day treasury bills in mid december last year and has since raised a total of 26 mln dinars through the programme
as oil cargoes are often resold after loading critics said the door will be left open for continued shipments to south africa
shr loss 12 cts vs loss 63 cts net loss 596000 vs loss 2934000 revs 7261000 vs 6600000 year oper shr loss 14 cts vs loss 128 dlrs oper net loss 683000 vs loss 5824000 revs 298 mln vs 227 mln avg shrs 4930000 vs 4546000 note year net excludes losses from discontinued operations of 764000 dlrs vs 5152000 dlrs
while institutional sources said salomon lowered the ratings to m from o plus on bank stocks bond traders said this carried over to the secondary market and further undermined confidence in bank paper
to the extent that individuals were not fully accepting or cognizant of the seriousness of domes financial position the financial statements reflecting this writedown of the value of assets is certainly going to indicate the depth of the hemorrhaging that has taken place gobert said
to think that you can deal with a trade deficit by legislation is a mistake he told the foreign trade association here
mhis exports to sales ratio fell to 259 pct in the half year ended last september from 35 to 36 pct five years ago
stanley interiors sthf sells convertible debt
non callable for two years the issue is rated ba 3 by moodys investors and bb by standard and poors
france to sell stake in societe generale unit
this means oil related expenditure in the uk or on the uk continental shelf which has not become allowable in a particular field within three years of being incurred to be allowed against prt liability in any oil field the inland revenue said
it added in a statement that parent net profit rose to 2882 mln marks in 1986 from 2217 mln the prior year
if may june registrations are opened under similar conditions as before brazil would have no difficulty in selling at least 20 mln bags per month
leading industrial nations will be reviewing the paris agreement to stabilize exchange rates foster increased worldwide growth and reduce trade imbalances but the us thinks the accord has been successful so far a senior us treasury official said
a second high command communique today said iraqi warplanes flew 94 sorties against iranan targets and positions at the war front
wolf inc hbw 3rd qtr feb 28 net
australian foreign ship ban ends
non callable to maturity the issue is rated a 1 by moodys and aa minus by standard and poors
while he is recommending gm stock he said results will not improve until 1988
he said however there is support for his offer
he also disussed problems of developing countries in general with banking and government officials in abidjan
france supports the european commissions plans for a european community ec fats and oils tax but objects to some of its oilseeds proposals yves van haecke an aide to french agriculture minister francois guillaume said
all these matters would be considered during the informal meetings
mobil corp said it raised its west coast crude postings effective today
but he called that a small amount compared to the amount other investors have for acquisitions
eyskens has repeatedly said that europe needs a period of calm on world currency markets and in particular a more stable dollar before it can set about strengthening the ems to make it more resilient against exchange rate swings
united also said it plans to acquire some of these notes to reduce its exposure to foreign exchange fluctuations
cftc said the soft drink industry currently buys at least 95 pct of all us produced hfcs 55 a liquid food and beverage sweetener produced through the processing of corn starch by corn refiners
the fried
per share figures come after preferred dividend requirements
sun chemical is said to have 49 pct of outboard and is conducting a study on whether to bid for control of the marine engine and boatbuilding company
he said the survey showed currency transactions by trade houses and exporters contributed little to the dollar fall
the grain output of a major chinese grain producing province is not increasing because farmers lack incentives production costs are rising storage facilities are poor and there is not enough state investment in grain the provinces vice governor said
the climate for precious metals is improving with prices benefiting from renewed inflation fears and the switching of funds from dollar and stock markets brokers samuel montagu and co ltd said
he might not come out in favor of it but he wont go to the president and voice his objections in an official statement clarifying shultzs remarks yesterday to leaders of the national association of wheat growers the state department said secretary shultz expressed his belief that whenever possible us grain should be competitive on world markets including the soviet union
the company said financial advisor goldman sachs and co determined the price to be inadequate
swires stake in cathay was first reduced to 5425 pct from 70 pct when cathay was publicly floated and then cut to 5025 pct when cathay issued new shares amounting to 12 pct of the enlarged capital to the state owned china international trust and investment corp cathay last week reported its 1986 profits rose to 123 billion dlrs from 777 mln a year ago
maryland national corp said it filed with the securities and exchange commission a registration statement covering a 125 mln dlr issue of subordinated capital notes due 1999
the governments perceived need to control inflation by keeping a tight rein on credit was unnecessary he said
if crude oil stays below 20 dlrs a barrel and 150 dlr per mcf for natural gas prevails the prospects for onshore exploration at deeper depths in the texas gulf coast by independents in the 1990s are pretty dismal walter said
leigh pemberton noted there had been excesses in takeover activity in the recent past
the company said it will use proceeds from the sale to reduce the debt incurred by its acquisition of ex cell o corp last year
tenneco vice president joe foster said he did not expect significant increases in drilling for gas until the early 1990s when the us gas reserves life will have declined to about seven years supply
there is a 1 1 4 pct selling concession and a 5 8 pct management and underwriting fee
munim said bangladesh feared a further drop in prices for its main export jute which will certainly affect our export earnings in the coming year
french 1986 87 soft wheat exports fall
brenco inc bren declares qtly dividend
while consumers do not yet have a common position an observer said after a consumer meeting they are much more fluid and the tone is positive european community consumers were split on the question of how the cocoa buffer stock should be operated when the icco met in january to put the new international cocoa agreement into effect delegates said
detroit edison said the bonds will be offered to the public this year and next with the first bond sale scheduled for early next month
diamond shamrock offshore partners dsp payout
he added that total sales volume increased as a result of higher offtake by affiliated companies while inland market sales were maintained at around the previous years levels
dealers expect this weeks money market shortage to be around 12 billion guilders
the reduced month on month drop mainly stemmed from the recovery in world crude oil prices it said
the official refused to comment however on whether the agreement included a secret pact to consider further coordinated interest rate cuts a measure industrial nations have taken jointly several times in the past year
it then changed its name
bristol myers trust byu extends expiration
dutch money market debt barely changed in week
the increase brings the contract barge price to 5050 cts a gallon sun said
hadson corp hads offering of 375 mln shares of common stock through shearson lehman brothers inc and painewebber inc
s p may downgrade mark iv industries iv debt
trimedyne tmed to spin off stake in unit
shr 19 cts vs 16 cts net 502000 dlrs vs 401000 dlrs revs 88 mln dlrs vs 67 mln dlrs six mths shr 38 cts vs 29 cts net 989000 dlrs vs 745000 dlrs revs 163 mln dlrs vs 125 mln dlrs
usair group inc said its board has rejected trans world airlines incs offer to acquire usair for 52 dlrs per share in cash as grossly in adequate and not in the best interests of usair shareholders employees or passengers
seasonally adjusted sterling bank lending grew 29 billion stg after a january rise of 175 billion
assuming the offering had occurred on jan
we have the capacity to produce the amount rastam hadi petronass vice president for upstream sector said
aloha inc buyout completed
pesch would not elaborate on what type of financing arrangements are being made
non callable for five years the issue is rated a 3 by moodys investors service inc and a by standard and poors corp
t
if confirmed the toll would make the incident the worlds worst since a soviet liner the admiral nakhimov collided with a freighter in the black sea last september and sank with the loss of nearly 400 lives
government ministers told reporters last week they regretted yugoslavia made such an effort in 1986
it will not give any short term relief for debt ridden countries but it will make a difference in 10 to 15 years
second quarter ended june seven
blue arrow plc said it signed an agreement to acquire richards consultants ltd for 29 mln dlrs in cash and securities
price details were not immediately available but some traders suggested business had been done around 220 dlrs a tonne cif
the market now thinks the central bank action is to slow the dollar fall not to push it back over 150 yen said tadahiko nashimoto manager at long term credit bank of japan
he has opposed the legislation saying it would prevent negotiated solutions to trade disputes and in any case that existing law was adqeuate to end unfair trade practices
administrative executive robin taylor told the domestic news agency ziana that zimbabwe earned the equivalent of 33 mln us dlrs from coffee exports last year
if the merger is consumated s and p would rate the newly formed baker hughes inc senior debt at a minus subordinated debt at bbb plus and commercial paper at a 2
bek nielsen said americans consume more saturated fats daily through food like butter bacon ham and beef than from palm oil which he added is rich in vitamins a and e
the french government which owns cgct had asked siemens at the start of 1986 to submit an offer for the stake in cgct
good domestic demand higher operating earnings and a strng export business probably benefitting from a lower dollar and effects of reduced imports in chemicals will continue to aid du pont he also noted that energy earnings in the first quarter are better than expected because of the rise in crude prices
the commitments made at these meetings need to be translated into action reagan said in a pre summit speech celebrating the 40th anniversary of the marshall plan
the office said the fall was largely due to lower prices for energy raw materials and semi finished goods
central bank president wim duisenberg has defended the move saying the bank had adjusted the rates with the most impact on the money market noting the 45 pct discount rate is at the moment not the most important dutch rate because it is already far below the market rates central bank officials say the heavy dependence on trade of the dutch economy requires a stable exchange rate and interest rate policies serve that goal
in order to expand participation by foreigners the syndicate must either expand the securities industrys 26 pct share or introduce auctions to the primary market they said
he said people mentioned many things in line with the spirit of the report including restructuring of the coal and steel industries
the auction results will be announced tomorrow afternoon
kellogg said the refinerys reformer hydrotreater will be upgraded to 9500 barrels a day capacity from 7500
us says canada complying with lumber pact
phh group phh regular qtly dividend
mafina bv of voorburg a subsidiary of petrofina sa petbbr is issuing a minimum 200 mln franc seven year bond with warrants paying two pct lead manager credit suisse said
iowa beef processors inc is lifting a lockout at its dakota city nebraska processing plant and plans to resume operations march 16 united food and commercial workers union spokesman allen zack said by phone from his washington dc headquarters
it has 64 billion dlrs of loans to argentina brazil mexico and venezuela one of the highest exposures to lesser developed countries among us money centers
imatron inc imat 4th qtr loss
s and p upgraded anr finances euronotes to bb minus from b plus anr pipeline cos first mortgage bonds to bb plus from bb debentures and eurobonds to bb minus from b plus and preferred to bb from b plus
first federal of michigan ffom dividend hike
dow chemical co dow unit increases prices
on thursday first financial management corp ffmc offered to acquire comdata for 1800 dlrs per share in stock and cash subject to approval by the comdata board
within this the public sector borrowing requirement psbr showed a repayment of 37 billion stg while the non bank private sectors holdings of government debt fell by about 11 billion stg
gaf corp said management group to reconsider acquisition proposal
many called meetings to assess the current market situation
chrysler corp said its board declared a three for two stock split in the form of a 50 pct stock dividend and raised the quarterly dividend by seven pct
bankamerica bac to post gain on unit sale
japans more flexible stance on tokyo stock exchange membership would also help deflect criticism he said
mueller said it would be both difficult and dangerous for monetary policy to pursue a specific mark dollar exchange rate
the contract expired at midnight march 31
frances balladur says target zone notion nearer
lloyds bank canada 1st qtr profit rises sharply
the reserves could support imports of more than two years for taiwan compared with about three months for japan and the us
but a lot depends on oil prices he added
production of black and green teas is forecast in the embassy report to rise to 125000 tonnes in calendar 1987 from 123000 tonnes in 1986
certificated cotton stocks
he told parliament that in the southern provinces the harvest would be over 50 pct down on the level in the previous marketing year
march is usually a tight month for the money market because of tax payments and banks need to attract funds for their year end accounts on march 31
the official in charge of agricultural matters in the new round of global trade talks is in washington today and tomorrow to meet with congressional and reagan administration officials
montreal trustco inc is issuing a 100 mln canadian dlr 8 1 2 pct bond due may 6 1992 at 101 pct lead manager societe generale said
shr 47 cts vs 31 cts net 4757000 vs 2466000 revs 328 mln vs 335 mln avg shrs 12638000 vs 8941000
cooke a member of the liberal party told the us congressmen i can understand the trade bill i think it has to do with concerns you have with the other parts of the world i would suggest to you that we are your best friends
its new currency the european currency unit ecu has been a runaway success with investors and borrowers alike seeking an alternative to the volatile dollar
before the tremor ecuador suspended interest payments on january 31 to private foreign banks
earlier it posted net income for the period of 147 mln dlrs or 87 cts a share up from 117 mln dlrs or 73 cts a share
versatile to sell unit to vicon
the report said to compensate for the below normal precipitation irrigation has increased as has the use of fertilizer
a statement issued after a cabinet meeting said goria had been informed by the united states that it would take action against an iranian target in the gulf but had not known beforehand that the action would involve an attack on an oil platform
officials in jakarta said the new pact would bring benefit to indonesias rubber industrys by stabilising prices
the southern snow cover boundary continued to slowly retreat northward and eastward it said
shell oil gets 1043 mln dlr contract
equatorial in 1985 earned 1807000 dlrs after a 3197000 dlr gain from early debt retirement on revenues of 561 mln dlrs
in addition ranks hovis will make a further cash payment of 20p per avana ordinary
telecom said the proposed amendment would also permit siemens to defer repayment of up to an additional 50 pct of certain intercompany debt until completion of the review
usair said piedmont has granted it an irrevocable option to buy up to 3491030 new shares under certain circumstances
1985 oper net excludes extraordinary profit of 11 mln dlrs
us exporters report 104000 tonnes of corn sold to unknown destinations for 1986 87
the company named painewebber inc as lead underwriter of the offering
the third major swiss chemical company f
questech inc qtec year net
the federal reserve entered the us government securities market to arrange 15 billion dlrs of customer repurchase agreements a fed spokesman said
the current account showed an adjusted surplus of 61 billion francs in january last year and an unadjusted deficit of one billion
1987 qtr also includes non recurring expense 150000 for discontinued operations and consolidation of four distribution service centers
plans to rejuvenate polands economy by reducing central government control would help reassure western creditors that the countrys economy was safe to invest in a senior polish official said
traders said some texaco debt issues fell over 30 points this morning in thin trading but recouped about half that
the commodity credit corporation ccc has transferred 210 mln dlrs in credit guarantees previously earmarked for sales of us corn and 50 mln dlrs for sales of oilseeds to increase available coverage on sales of us poultry meat to iraq the us agriculture department said
standard amp poors has noted that in 1986 there was a series of austerity measures designed particularly to cut lending and encourage saving
analysts predicted feisty gaf chairman samuel heyman will stage a tough campaign to gain control of borg warner so he can add its profitable plastics and chemical business to gaf
hilton international will add 90 hotels to uals westin hotel unit which operates 61 hotels
i have a hunch a lot of other things were involved in that stock market fall including simple profit taking yeutter said
we have been playing a very full part ourselves he said
canadian petroleum association technical director hans maciej sees industry cash flow falling another 10 pct in 1987 after dipping about 60 pct last year
speaking to a news conference following the pdvsa annual assembly hernandez said pdvsas income from oil sales had dropped to 72 billion dlrs in 1986 down 45 pct from last years 133 billion
1986 nine mths includes loss 2477 mln dlrs from write down of petroleum service assets and other restructuring costs
the itc voted 3 2 in favor of the anti dumping petition in its final ruling on the matter
china has to feed one quarter of the worlds population but only one seventh of its land is arable
the may department stores co said it has signed an agreement to sell its sycamore specialty store division to an investment group that includes syacmore senior management
about 6000 miners resumed work at the grootvlei gold mine east of johannesburg after protesting the transfer of colleagues to other jobs at the same mine owners general mining union corp ltd genmj said
sales of oil and condensate averaged 1586 dlrs per barrel last year down from 2741 dlrs per barrel in 1985
mcdonalds corp is raising 75 mln australian dollars through a 14 5 8 pct bullet eurobond priced at 101 1 4 and maturing november 5 1991 lead manager bayerische vereinsbank ag said
petro canada estimates the terra nova field graven block would produce between 25000 and 26000 barrels average daily production with a production system that would have maximum capacity of 40000 bpd company spokesman foulkes said in answer to a query
he said we at the federal reserve will have to be disciplined in our conduct of monetary policy heller said said the government should also exercise fiscal discipline and cut the deficit by spending restraint rather than new taxes
ncr corp plans additional new product announcements this year it said without elaborating
a consortium headed by the construction group bouygues sa has been awarded a 50 pct controlling stake in french state television network tf1 which stock market analysts said represented a major boost for bouygues
the department said the additional guarantees increase the cumulative fiscal year 1987 program for sales of us agricultural products to algeria to 4660 mln dlrs
he said kiernan would probably head the combined company until his retirement then murray could assume the top post
turning to the public sector borrowing requirement psbr lawson said the likely outturn for fiscal 1986 87 was 40 billion stg or 10 pct of gdp
this is about half of total capacity
hillsdown says early 1987 results encouraging
reserves were just 577 billion barrels in 1974 rose sharply to 4019 billion in 1978 and flattened out at 72 billion in both 1981 and 1982
longer term resorts is expected to benefit from a strengthened competitive position s and p added
vanderbilt vago to raise common merge
banque paribas which arranged a 220 mln dlr loan for ecuador last year to pre finance oil exports wants to adjust the terms of the facility to help the country recover from a devastating earthquake bankers said
harvard industries inc said its board approved a two for one stock split in the form of a special stock dividend of its outstanding common stock
however bankers believe this will be the countrys only major financing for this year although another small private placement in japan could be arranged later in the year
if the drought does not worsen there is hope for a bumper harvest it quoted experts of the ministry of electric power as saying
the government is anxious that debt that is capitalized should represent new investment in the country on a dollar invested per dollar capitalized basis rather than a simple transfer of ownership of the debt he said
shr profit two cts vs loss 105 dlrs net profit 1666000 vs loss 18306000 revs 291 mln vs 283 mln avg shrs 691 mln vs 175 mln year shr loss 21 cts vs loss 272 dlrs net loss 7571000 vs loss 45517000 revs 1174 mln vs 1233 mln avg shrs 354 mln vs 167 mln note results include losses of nil vs 473000 dlrs or three cts a share in quarter and 921000 dlrss or three cts a share vs 1137000 dlrs or seven cts a share in year from discontinued operations
the customers are unlikely to slash saudi term purchases in large scale when japan increases annual imports of indonesian lpg to 195 mln tonnes in early 1989 from 319000 tonnes in the year ended march 1987 the sources said
holiday corp said it would redeem on march 11 all outstanding 9 1 2 pct first mortgage bonds due 1995 of its holiday inns inc unit and all 9 1 2 pct first mortgage bonds series a due 1996 of its harrahs subsidiary
g 6 wants to hold dlr above 150 yen nakasone
the dividend will be distributed on april 13 to holders of record march 30
philippine officials and a 12 bank committee have been meeting for the past four weeks in new york in a bid to reschedule 94 billion dlrs of foreign debt
dole also repeated his call for an across the board export enhancement program saying a subsidy offer to the soviet union could help improve us relations with that country
hartford national corp hnat regular dividend
j henry schroder wagg and co ltd is co lead
earlier consul said it would exchange 174912 shares of convertible preferred stock for 175 mln dlrs of outstanding 13 pct debentures
pitman moore makes health products for pets and for farm and feedstock animals
the new figure represents the first change in the plants budget since august 1985 when it was estimated at 835 billion dlrs
the company also said its board has approved a capital budget of 21 billion dlrs in 1987 including work on the vogtle project
a senior us treasury official said there has not been a consensus reached yet when asked about reports the paris club of western creditors had agreed to long term stretch outs of african debt at concessional interest rates
among third country destinations the soviet union was the largest costumer in january taking 11985 tonnes compared with nil in december and 26074 tonnes in january 1986
varity posted a net profit of 39 mln us dlrs for the previous fiscal year ended january 31 1986 and a 33 mln dlr net profit for the previous fourth quarter
nippon life insurance cos 538 mln dlr purchase of a 13 pct stake in shearson lehman brothers inc brokerage unit is a shrewd move that other japanese insurers are likely to follow securities analysts said
recent strength in the price of encor shares may also prompt commerce bank to press dome to divest its holding in the canadian oil and gas producer analysts said
todays meeting set to begin at 1500 est 2000 gmt was scheduled at the request of the exporters the aide said
reichhold said it made a modest cash investment
anitec image technology corp antc sets payout
overfunding in 1986 87 has removed the need for a may tender he said
belgium launches bonds with gold warrants
this compares with two pct at the same stage last year three pct in 1985 and 38 to 39 pct in 1984
top qualities sought on hamburg coffee market
united companies financial corp said its board declared a two pct stock dividend payable april eight to holders of record march 17
it is a global negotiation with no two tracks no fast track no slow track
standard srd mobil mob plan offshore platform
1985 results restated
the revolving evergreen facility will be completely underwritten and the borrower will be able to issue cash advances sterling bankers acceptances and sterling commercial paper through a tender panel
wheat redemptions totaled 96 mln bushels valued at 237 mln dlrs since december 1
qtr ended sept 30 shr 40 cts vs 20 cts net 797000 vs 403000 sales 308 mln vs 273 mln
spain has 35 mln dlr current surplus february
operating profit 578 mln vs 520 mln making 172 billion vs 156 billion
southern co to take 226 mln dlr charge on projected vogtle cost rise
the refined palm oil market was slightly easier and april delivery of rbd palm olein to singapore traded at 85650 ringgit per tonne
shr 51 cts vs 56 cts net 5645000 vs 6153000 revs 459 mln vs 453 mln
the british treasury confirmed that the sale of british petroleum co plc will go ahead as planned despite mondays stock market crash which forced bp below the 330p a share set for the 72 billion stg issue
piedmont pie takes no action
ameritrust corp said its board declared a two for one stock split and management intends to recommend to directors an increase in the quarterly dividend to at least 50 cts per share presplit from the current 44 cts
baker is expected to underscore these points in his address today
he said ec commission president jacques delors would report to the meeting on problems raised by plans to liberalise capital movements fully within the 12 nation bloc by 1992 such as the need for harmonising taxes and banking controls
dep corp depc 2nd qtr jan 31 net
the government should instead seek ways of making the best use of its fiscal policy he told a press conference
the move is subject to approval of the federal cartel office and supervisory boards of the companies involved
chemical bank and marine midland banks inc said they are cutting their prime lending rate to 9 1 4 pct from 9 3 4 pct reversing an increase that they announced just last week
this percentage is close to the critical mass of commitments that the international monetary fund has requested as a condition for releasing new loans to the country
we explained that the process of restructuring the economy away from its dependence on exports toward a balance between domestic and external demand would take time saito said
the prospects for an end to the droughts vary accu weather said
he said on the present repayment schedule yugoslavia would have a net outflow of two billion dlrs and the level of debt would be halved by 1995
goldman sachs and co and merrill lynch capital markets underwrote the deal
early development of the larger miller and bruce oil fields might also be encouraged he said
the packages part of special ec trade agreements with tunisia egypt lebanon israel algeria morocco and jordan until 1992 include 615 mln ecus in grants he said
i dont think we would have any objection to it he added
extraordinary debit 204 mln vs 282 mln
ina accounts for some 75 pct of yugoslavias total oil production which amounts to 42 mln tonnes a year
advanced telecommunications atel in redemption
its 999 percent i guarantee you a strike gralewicz said in an interview
the acquisition would contribute between five and 10 pct of b and cs share earnings in 1987 on a proforma basis
the paper added that leaders in some areas were not paying enough attention to agriculture especially grain making it difficult to achieve the 1987 grain output target of 405 mln tonnes against 391 mln in 1986
tie communications inc said it has renewed agreements to sell its gte corp gte bell atlantic corp bel nynex corp nyn and us west inc usw for two years
revenues rose to 202 billion from 185 billion dlrs
noting that in the case of long bond auctions us primary dealers have as much as three months between successive sales of stock hartnell said the banks proposal was very tight nissen said that following a meeting between gemma and the bank of england on march 3 which he described as very helpful gemma submitted a note making several further residual points
the combined offering of 14 billion dlrs was the second largest junk bond deal ever brought to market underwriters and traders said
the us officials said the 100 pct tariffs reagan ordered on 300 mln dlrs worth of japanese goods will also show congress that a tough pro trade stand can be taken under existing laws and no new protectionist legislation is needed
bombay cury bases growth on location costs
under the debt initiative announced 18 months ago by treasury secretary james baker the united states made the decision that debtor countries should be encourged to grow out of their difficulties rather than rely on austerity measures
bifs created in december 1985 and reserved for issue by certain specialised financial bodies are negotiable securities with a life of between two and five years and are issued in units of five mln francs
financial corp fin unit completes purchase
avery inc said the company will not show a profit in the next quarter and will probably not show a profit in 1987
yesterday 645000 bags were registered
during the takeeover attempt a unit of sugarmans giant group ltd at one point held a 99 pct stake in tre
the payment date is may 15
he also said that since 1970 the world has been consuming 20 to 25 billion barrels a year while making discoveries at the rate of only 10 to 15 billion barrels a year
president reagan said the united states must do more to lessen its reliance on imported oil
during the 11 mths of operation the partnership wrote down the carrying value of its oil and gas properties by 1248 mln dlrs
cepe manager carlos romoleroux told reporters that ecuador would begin pumping an unspecified amount of crude in northeastern jungle oilfields at the end of next week in preparation to send the oil through a new pipeline link up to neighbouring colombia
shr 63 cts vs 45 cts net 3623067 vs 2607977 gross income 101 mln vs 101 mln year shr 212 dlrs vs 174 dlrs net 122 mln vs 100 mln gross income 381 mln vs 368 mln note share adjusted for five for two stock split effective yesterday
blockbuster entertainment corp said it agreed to buy southern video a blockbuster licensee in san antonio
inflows totalled a billion dlrs in fourth quarter 1986
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
forged exxon xon zero coupon euronotes found
the effect was to freeze some potential new homebuyers out of the market he and others said
there was no revision in the 09 pct increase in the leading indicators index for november
morgan stanley co managed the deal
arrangements for financing have not yet been made and there can be no assurance that any financing will be received hmo said
while he did not meet with jorge cardenas head of the colombian coffee producers federation who was in europe cardenas left a positive letter rosenbaum said
qtr prior ended jan 17 1986 and included two more weeks than current qtr
he called for clearly defined laws governing incorporation of joint stock companies and the flotation of debt instruments
he said the successful completion of the offer plus shares he already owns would give him 505 pct of necos 962016 common shares
amsouth bancorp aso sets exchange ratio
trans canada glass ltd 4th qtr loss
brazilian cocoa exporters are not likely to follow the example of cocoa producers alliance cpa members who may limit sales of the product in an effort to boost world prices trade sources said
sales of new single family homes tumbled 149 pct in may from april levels because of higher mortgage interest rates analysts said
he declined to elaborate
the price for each corona warrant consists of 175 convertible retractable zero coupon series b first preference share at 35 dlrs nominal value and one five year 750 royex share purchase warrant
the spokesman said the refinery had been operating at about half its capacity since end january due to overhaul work on part of the complex
japan last year took 78 pct of the 170 mln dlr ec eprom market up from 60 pct in 1984
first interstate i estimates loss on brazil
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
these countries are still prepared to negotiate and the instruments of cooperation developed thus far provide the means to deal with the crisis over time steckhan said
he said the new bonds repayable in one to two years carry interest rates ranging from five to 525 pct
the latest brazilian coffee institute estimate for last years harvest is 112 mln bags although many traders believe it was higher than this
wilcox said a good aluminum market and several months of successful operation led to the decision to expand production
early dollar straight eurobond trade was quiet with currency sectors particularly eurosterling continuing to perform strongly closely reflecting current trading patterns on the foreign exchanges dealers said
the jury is still out on whether the fed is tightening policy to defend the dollar said leslie of discount corp
however he and others pointed out that the secondary market has not seen heavy selling by institutions funds and other investors
it said the split if approved would take effect on may 20
the light sweet crudes produced from these north sea fields also gave the company trading gains as exxon was able to sell much of this crude and replace it with cheaper lower quality crude oil for its refineries which have been upgraded over the past several years
shr 49 cts vs five cts shr diluted 45 cts vs five cts net 651000 vs 95000 revs not given 1st half shr 57 cts vs one ct shr diluted 53 cts vs one ct net 781000 vs 56000 revs not given note current year net both periods includes gain 873000 dlrs from repurchase of securities
tracomin said it expects a good 1987 us groundnut crop and forecast a resurgence in us exports next year
it said central banks in industrialized countries including the bundesbank had followed the federal reserve boards expansionary course
calmark headquartered in los angeles develops manages and syndicates real estate northview also said
de croo also criticized the way us officials try to solve ec trade issues saying each time we come in contact it a conflict contact
shr nil vs nil net 215000 vs 16000 revs 2800000 vs 1100000 nine mths shr one ct vs nil net 620000 vs 231000 revs 8100000 vs 2100000
quebec said it also wants interprovincial pipe line ltd ipipfo to adapt its pipeline from sarnia ont to montreal to carry natural gas liquids a decision that will be made by the federal national energy board
upward funds rate pressure and a big reserve adding need are anticipated for the statement period that began today
the companys prime 1 commercial paper is not under review
united medical corp um sells unit
saudi renegotiation of aramco deal moving along
another monetary source said japan was upset with americas half hearted attempt to halt the falling dollar flouting the paris accord outright
we all agencies are together on this said one us trade official
telxon txln sees slightly higher 4th qtr net
us meat poultry inspection called faulty
the philippine negotiating team refined the pins idea three times before the final agreement was struck last friday ongpin said
japanese british and us securities houses have been expanding inventories of gilts to meet demand from investors seeking capital gains including city and trust banks which have been active on the us treasury market they said
shr one ct vs one ct net 528790 vs 286969 revs 2537803 vs 773729 year shr seven cts vs one ct net 2429576 vs 404394 revs 6726327 vs 1150961
shr profit one ct vs loss 28 cts net profit 23000 vs loss 725000 sales 206 mln vs 185 mln avg shrs 3959011 vs 2608571
the bank said the loan will be used to boost production by injecting gas in the partially depleted assam oil fields and to assist exploration in other areas including drilling 10 exploratory wells
the agency cited the larger financing in its action and said it believed the issuers cash from existing operations would not be enough to adequately service debt
caremark acquisition reduced 1987 nine months net by five cts offset by a three ct gain from the sale of securities
a purolator courier corp director resigned from the companys board saying he plans to take steps to make or find an offer that tops the 265 mln dlr buyout deal already accepted by purolators board the company said
the yield and premium over treasuries was greater than a similar financing in january
enterra corp said it has completed the sale of its hale fire pump co and macomson machine co subsidiaries to a company formed by los angeles investment firm mcbain rose partners for about 27 mln dlrs in cash
seasonally adjusted unemployment was 229 mln
international american homes inc said it entered into a conditional contract to acquire the maione hirschberg cos inc and affiliated entitles for 19 mln dlrs
h and h oil tool co hhot 4th qtr loss
the current conference was widely seen as the last chance to clinch a deal
volcker said he endorsed comments by treasury secretary james baker about the inappropriateness of using public resources for purchasing private commercial bank debt which we both see as an inherent aspect of the proposed international debt facility he also said a proposal for establishing formal procedures for international negotiations on currency exchange rates is unrealistic and could well have damaging effects for example the bills directive to intitiate negotiations in order to achieve a competitive exchange rate for the dollar a matter upon which there can be considerable difference among analysts runs the risk of building up potentially destabilizing market expectations volcker said
phillips is also pursue opportunities in china where silas said he was seeking a modification of terms with the chinese government to make oil discoveries in the offshore xijang fields commercially viable in the us silas said phillips hopes to get the point arguello calif field started up by the fourth quarter
look at all the japanese cameras and tape recorders in this room
congress video group inc cvgi 3rd qtr net
equally significant was the decline in both private and government spending they said
norcen energy resources ltd 41 pct owned by hees international corp said earnings and cash flow will improve in 1987 even if oil and gas prices remain at 1986 levels
trico tro gets chinese contract
this situation however cannot continue indefinitely
he said the company was cutting back its advertising by about 30 pct this year
dutch port union calls off general cargo strikes
the three buick oldsmobile cadillac plants that will be idled are located at wentsville mo
peru ecuador bolivia costa rica honduras guatemala and nicaragua had all curtailed payments before brazil
tvx and its investment bankers salomon incs sb salomon brothers advised taft the closing would not be consumated as scheduled the company said
intl research development irdvo 1st qtr net
alaska housing finance gets credit euro cp pact
he expects us stocks to improve further because there is more corporate earnings potential nominal interest rates already are low and there is strong foreign demand for stock
treasurys baker hopes prime rate rise temporary
other operators claimed they had palm oil booked for indonesia but would not disclose tonnages
the anzs new rate will be the lowest prime set by the four major trading banks and matches the rate set by one of the smaller foreign banks in january and left unchanged during the rise in primes over the last three months
gold fields of s
the elimination of limits on daily price fluctuations for metals futures contracts traded on the commodity exchange comex appears to be having little effect on the market analysts said
mueller said growth in money supply was still too high
i think well still be able to get a reasonable trade bill out in spite of that because the whole congress is trying to work together with the administration but there is a hardening trade attitude he said
asked in an interview if it was time to consider a marketing loan for soybeans lyng said i dont think so
feb 28 end shr profit four cts vs loss nil net profit 448000 vs loss 28000 revs 151 mln vs 115 mln avg shrs 112 mln vs 111 mln year shr profit four cts vs profit nil net profit 459000 vs profit 51000 revs 532 mln vs 445 mln avg shrs 112 mln vs 111 mln note net includes tax credits of 53000 dlrs vs 1023000 dlrs in quarter and 48000 dlrs vs 2557000 dlrs in year
malaysia welcomes accord on new rubber pact
1986 qtr includes pretax gain of five mln dlrs from settlement of litigation and tax gain of 51 mln dlrs from change in estimated effective tax rate
the shareholders will engage salomon brothers inc for distribution of the shares in the united states and mcleod young weir ltd for distribution in canada
both are avialable on eight inch and 5 1 4 inch diskettes wang said
multifoods imc files suit against bregman
allis chalmers said it will exchange existing preferred stock for common
ortner senior economist at the commerce department told an export import bank conference the yen is still a little bit undervalued and could go up another 10 or 15 pct asked for reaction a treasury spokesman said officials were aware of ortners comments but had no intention of making any comment on them
great atlantic and pacific tea co 4th qtr oper shr 55 cts vs 36 cts
shr profit 32 cts vs profit nine cts net profit 413000 vs profit 63000 avg shrs 1278360 vs 728476 nine mths shr profit 68 cts vs loss 57 cts net profit 708000 vs loss 415000 avg shrs 1041697 vs 728476
medco containment mccs sets initial payout
but this was more than offset by a 15 pct negative foreign exchange effect which produced the reported one pct drop in turnover to 836 billion francsthe sandoz official said
aramco said it awarded 1303 contracts last year worth 14 billion riyals about 370 mln dlrs
penhale will control and manage multi step manufacturing following the transactions
shr 41 cts vs 47 cts net 1002000 vs 931000 avg shrs 2452171 vs 1975422 nine mths shr 123 dlrs vs 141 dlrs net 3014000 vs 2776000 avg shrs 2444591 vs 1967539
moodys cited reduced leverage a strengthened equity base and increased fixed charge coverage
output in february was however 59 pct higher than in january
us study discusses dropped comsat contel merger
all in tonnes except silver which in troy ounces
he said it was too soon to say what the administration policy on oil tax incentives would be and indicated there would be opposition to tax changes
metropolitan said it may acquire an option on or may buy some or all of the metex shares owned by william hack a metex director who together with this wife holds 149750 of the companys common shares or 114 pct of the total
japanese companies had used technology and quality to get where they are and are unlikely to deviate from that trend one takeover specialist said
he said conditions created by londons role as a leading financial centre had caused sterling interest rates to be higher in real terms than in other countries
the increase in the banks gross operating profits was mostly due to a rise in french franc deposits and personal loans as well as the development of its financial activities societe generale said
the australian dollar rose more than 40 points and money market interest rates retreated on the better than expected improvement in the february current account deficit but economists and dealers were cautious about identifying it as the start of a downward trend
exxon said that its principal gains in production came from the gulf of mexico alaska the north sea malaysia and from oil sands in canada
it gave no details
china and australias victoria state signed a joint venture contract for a 290 mln dlr aluminium processing plant in china that will export to south korea australian officials told journalists
britain opposes the proposed merger
in response to a question about banks volcker said he would be pleased if congress decided to give banks a tax writeoff as an incentive for them to take greater reserves against loans to debtor countries
under the new plan introduced in line with soviet leader mikhail gorbachevs drive to modernise the economy special inspectors have the right to reject goods they consider below standard
white house budget chief james miller said he was concerned that the federal reserve might overreact to the decline in the value of the us dollar by raising interest rates a move he said could cause a recession next year
concord computing corp said thomas e
the bank is being sold to the public as part of a sweeping programme to privatise 65 state owned groups over five years
lloyds said the 200000 dwt vessel is carrying about 180000 tons of ore
the underlying rate of inflation was now two pct not the reported negative inflation rates last year and west germany was affected more than before by exchange rate developments
cocoa butter imports rose slightly to 1699 tonnes from 1507 while exports fell slightly to 6211 from 6293 tonnes
concern is heightened by the memory of the 1982 83 drought which devastated the wheat crop and coincided with the occurrence of the barely understood weather phenomenon known as el nino they said
the idea of linking the six currencies has been debated since the start of the gcc
of that there is a two pct selling concession with the remainder a combined management and underwriting fee
total m1 rose 12 pct to 6284 billion dlrs in january after a 50 pct rise the previous month
a cyclops spokeswoman said the company had no details of the new cyacq proposal and could not comment
occidental will use the proceeds to reduce its debt
chase chairman colin reynolds said the takeover would allow entregrowth to concentrate on north american operations with access to chases international funding base and a stronger executive team
in the year to end march 1988 bgc will pay back a further 250 mln stg followed by 400 mln in both 1988 89 and 1989 90 and the remainder in equal instalments of 350 mln over the next two years
the miners federation left the door open to negotiations with the government but only if the authorities show their intention to find solution to our demands aranibar said
taqi appointed oil minister in the last significant government reorganization in 1982 was moved to be minister of heavy industries
franco nevada said american barrick announced on march nine that the drilling indicated a number of significant intersections of sulfide gold mineralization below a depth of about 1000 feet
investor irwin jacobs said he has an investment in gillette co amounting to less than five pct of the consumer products companys stock
public service enterprise peg two mths net
because of the high turnover of beans this year significant amounts have deteriorated because they were stored too long at the back of warehouses
before the 568 mln stg contested bid was launched last month williams held 850000 ordinary shares or 067 pct and since then it had acquired options to buy a further 199 mln or 158 pct
total shipments in the third year of the us ussr grains agreement which ended september 30 amounted to 152600 tonnes of wheat 6808100 tonnes of corn and 1518700 tonnes of soybeans
swissair swszz reported a 58 pct drop in 1986 net profit to 645 mln swiss francs and said that in line with its new flexible dividend policy it would cut its payout to 33 francs per share from 38
operating profit at the companys northwest pipeline corp unit fell 45 pct to 150 mln dlrs from lower sales
the sources said the french central bank could have been in the market again today in two way operations not necessarily on its own account but to counter short term pressures arising from the end of the japanese financial year on march 31
non coffee exports amounted to 1808 mln dlrs fob compared with 1475 mln dlrs for coffee a drop of 42 pct from last year
speaking at the annual shareholders meeting chairman nelson peltz declined to estimate when the company would become profitable
society for savings socs to offer notes
margoshes said he recommends imperial oil imoa up 1 2 to 49 1 8 standard oil co srd 7 8 to 62 3 4 exxon xon one to 83 1 8 and chevron chv 1 1 8 to 54 7 8
kidston said in a statement it will spend about 55 mln dlrs to upgrade its mill grinding circuit to a mill ball mill crushing circuit to boost output by 25 pct from end 1987
dataflex corp dflxo 4th qtr march 31 net
they said owning oil reserves in a politically stable united states is good insurance against future shortages
without these currency fluctuations net profit would have been 307 mln guilders higher and revenue 197 billion higher natned said
the verdict was given by mr justice millett on january 22 when amt led an effort by itc creditors to recover sums claimed by banks and london metal exchange brokers as a result of the collapse of the itcs buffer stock operations in october 1985
indian oil gas commission gets 265 mln dlr credit
the company which already owns the other 50 pct of cvn said it plans to change its name to cvn
the us agriculture department said private us exporters reported sales of 350000 tonnes of corn for delivery to unknown destinations during the 1986 87 marketing season
ntt said it plans to make capital investments of 1770 billion yen in 1987 88 including 109 billion for research and development as against a total of 1600 billion this year
sales gained to 141 billion dlrs from 130 billion dlrs
the takeover provision was sent to the full energy and commerce committee for consideration as part of the overall trade bill which is being written by several house committees
the merger plan was announced in a midday news release that said the deal worth about 13 billion dlrs would be consummated july one when rhode island barriers to interstate banking outside of new england come down
but analysts said the writedown only impacts domes balance sheet and does not hurt the companys cash position
the sources said that finch in a statement considered unprecedented told the board that the united states had brought undue pressure on the imf to approve funding for zaire and egypt
the banks still have three weeks to sign the agreement and bankers are hoping all will go according to plan
zimbabwe confirms hoof and mouth disease
us oil demand as measured by products supplied rose 19 pct in the four weeks ended march six to 1639 mln barrels per day from 1608 mln in the same period a year ago the energy information administration eia said
argentine president raul alfonsin met for more than an hour with international monetary fund managing director michel camdessus and argentine economy minister juan sourrouille said the two men discussed argentinas economy and its commercial bank financing package
soviet flag tankers transporting kuwaiti oil through the gulf may get soviet escorts the officials said
it said voting will be conducted at its annual shareholder meeting on june 24
the sale is part of borg warners planned restructuring
fed expected to set customer repurchases
consumers are holding back from buying additional amounts until they test out the rubber
reorganisation and redundancy costs 36 mln vs 13 mln
the review noted that world industrial consumption has been on an uptrend since 1980 although offtake is still 14 pct below the 1978 level of 442000000 ounces
talks in rio de janeiro wednesday involving labour minister almir pazzionotto seamen and employers failed to resolve the dispute
export quotas were suspended in february 1986 when market prices surged because of the failure of the brazilian crop
wall street stocks pacific gas pcg 
moodys said it would examine the effects of the proposed mergers on usair groups financial measurements as well as potential damage to the companys financial flexibility because of the probability of increased debt service requirements
total pre tax profits fell to 254 mln after 268 mln in 1985
numerous factors said point to ussr corn buying
a 3 1 2 year labor contract at the plant expired december 13
anacomp aac gets funds to buy datagraphix
the department said an increase in the merchandise trade deficit during the fourth quarter to 384 billion dlrs from 371 billion dlrs in the third quarter was the main reason for the worsening deficit
fees comprise one pct selling concession with 55 basis points for management and underwriting combined
us selling 132 billion dlrs of 3 and 6 mo bills april 13 to pay down 1235 billion dlrs
merrill corp said it acquired frayn financial printing the financial printing division of frayn printing co seattle
us sets 95 billion dlr year bill auction
japan central bank actively buys dollars in tokyo
the group had earnings of 154 mln dlrs in 1985
poehl warns against further dollar fall
friedman industries inc frd quarterly div
hutton lbo extends expiration for 35 dlr shr offer for purolator to april 6 from today
caisse de depot et placement du quebec the government agency which manages the provinces pension funds said its investment portfolio earned a net profit of almost three billion canadian dlrs in 1986 an increase of 300 mln dlrs over 1985
us weighs lifting japanese trade curbs
utilicorp ucu acquires dominion d subsidiary
quest qbio signs pact with alza aza 
despite mounting domestic and overseas pressure brazil has said repeatedly that it will not go to the international monetary fund imf for help in drawing up a new plan for fear that will only throw its economy into recession
french domestic bond issues totalling 445 billion francs have been approved by the bond issuing committee for publication in the official bulletin of march 30 the committee announced
satlantic soafo independence inhoo merge
chubb corp cb sets quarterly
the increase followed a revised 02 pct rise in personal income during january
revlon said it had a 1986 operating profit of 643 mln dlrs compared to a loss of 133 mln dlrs in the year earlier period
herrington says he may recommend tax benefits for us oil industry
analysts said they had estimated 1987 net at 300 400 dlrs and were now looking for at 250 dlr to 280 dlr range
the joint committee of taiwans maize importers awarded contracts to five us companies to supply a total of 462000 tonnes of maize for delivery between may 10 and october 10 a committee spokesman said
fob exports in the first 10 days of march rose 58 pct from a year earlier to 550 billion dlrs and cif imports rose 97 pct to 361 billion
the sources said the ec which currently provides subsidies of around 16 cents a pound offered a compromise in last weeks talks in brussels but that this was rejected by the us us assistant special trade representative jim murphy has returned to washington ahead of a theoretical july 1 deadline for agreement set last august when the two sides resolved a related dispute over ec restrictions on us citrus imports
since paris there are signs west german growth is slowing while us officials said they were giving japan until april to show that an economic stimulus package was in the offing
monsod told finance secretary jaime ongpin had decided not to insist on manilas creditor banks pledging to fund half of a projected 1988 92 financing gap of seven billion dlrs
there would be little to gain and in fact it would probably be detrimental venezuela agreed with its bank advisory committee on a 145 year rescheduling of 203 billion dlrs in public sector foreign debt with an interest rate 7 8 pct over libor
shr 78 cts vs 51 cts net 725000 vs 451000 assets 985 mln vs 859 mln loans 405 mln vs 288 mln deposits 904 mln vs 787 mln
transcanadas proposal amounts to a quasi debt restructuring oil analyst doug gowland of brown baldwin nisker ltd said from toronto
stone container sto completes waiting period
interest rates on commodity loans disbursed by the commodity credit corporation ccc this month will carry a 6 7 8 pct interest rate the us agriculture department said
s korean february current account surplus narrows
cocoa council head to present buffer compromise
distribution of export quotas should be in the hands of producers as has been traditional dauster a delegate at the recent coffee symposium here told journalists
the new forecast for the sorghum crop is 29 mln to 32 mln tonnes compared with three mln to 33 mln forecast last week and is 238 to 293 pct down on last seasons 41 mln to 42 mln tonne crop
it said the companys interests in west virginia fire and casualty co congregation insurance co and national term life insurance co had been transferred to first national indemnity co which sold the three to celina mutual for cash an office building and related real estate
president reagan and most congressmen have previously ruled out a tax on foreign oil as a way to curb imports and to help the depressed domestic oil industry
four international firms shared the business which gave each of them sales of two cargoes of mar apr shipment sugar at 233 dlrs cif and options on two cargoes of apr may
another sign of abundant liquidity was the upward revision in banks net free reserves in the two week period to march 11 to a daily average of 759 mln dlrs from an estimated 660 mln
ec farm commissioner frans andriessen told agriculture ministers meeting in luxembourg that the ec is willing to make some temporary arrangements to lighten the impact on us exports of an ec plan to ban the sales of meat from animals fed with growth hormones the spokesman said
februarys shipments were down on the 154 mln tonnes shipped in february 1986
opecs differential committee was to have met in vienna starting april 2 but this session has been postponed with no new date set according to an official of the united arab emirates which chairs the seven state body
occidental oxy sells unit to henkel kgaa 
earlier this month moi told parliament kenya would face a difficult balance of payments situation this year as a result of falling income from coffee exports and a higher oil import bill
economists said the latest cpi supports existing expectations for an inflation rate of 35 to four pct in 1987
shr loss six cts vs not available net loss 562231 vs profit 10253 revs 8871874 vs 9549308 year shr loss 60 cts vs loss nine cts net loss 5058145 vs loss 766185 revs 343 mln vs 355 mln
australian manufacturers expect downturn survey
and the initial reaction of currency markets in the far east demonstrates that financial markets are unconvinced that currencies yet reflect economic fundamentals even though the countries appear to do so
for the last several weeks the stock has been strong on rumors of a spinoff of part of shearson
union pacific raises crude oil postings 50 cts a bbl effective yesterday wti to 19 dlrs
output in guangxi was 104 mln tonnes the new china news agency said without giving a year earlier figure
net includes loan loss provision nil vs 40000 dlrs
shr 94 cts vs 102 dlrs net 7255000 vs 7856000 loans 288 billion vs 294 billion deposits 405 billion vs 373 billion assets 543 billion vs 514 billion
the 2011 maturity will be issued to a maximum of 375 mln dlrs
shr loss 21 cts vs loss 28 cts net loss 817000 vs loss 1058000 revs 5627000 vs 7397000 year shr loss 75 cts vs loss 136 dlrs net loss 2872000 vs loss 5200000 revs 233 mln vs 211 mln note 1985 net includes 1255000 adjustment in inventory valuations and 486000 in cost reduction expenses
as with all paris club rescheduling accords specific interest rates and other details have to be negotiated on a bilateral basis with the creditor countries involved
poehl said the bundesbank had tolerated rapid money supply growth last year because the country enjoyed low inflation and because external factors including low oil prices and favourable terms of trade had given some extra leeway
american savings said the purchase will resolve a previously announced disagreement between american savings and the federal home loan bank of atlanta on the replacement of the capital american savings used to repurchase common shares in january 1985 from former chairman marvin l
we were looking for 115 dlrs said an analyst at a major wall street firm who declined to be identified
the debentures had an 8 5 8 pct coupon and were priced at 98675 to yield 8 3 4 pct or 115 basis points over the off the run 9 1 4 pct treasury bonds of 2016
the quality of buffer stock rubber sold since he entered the market in september would be discussed at an inro council meeting which opened here today he said
the predicted slowdown of the us automobile industry is affecting the north american group although the improved performance in the fata european group during 1986 is expected to continue into this year
irving trust co said it is raising its prime rate to 7 3 4 pct from 7 1 2 effective immediately
the light louisiana sweet grade was also raised 50 cts to 1785 dlrs bbl
the bank of england said it invited an early round of bill offers from discount houses after forecasting a shortage in the system of some 105 billion stg
national wheat growers officials were taking a cautious attitude towards the secretarys comments
britoil sees lower uk exploration expenditure
the us agriculture department gave the net change in export commitments including sales cancellations foreign purchases and cumulative exports in the current seasons through the week ended april 2 with comparisons as follows in tonnes except as noted 4 2 87 prev week all wheat 119800 368300 corn 1001900 927000 soybeans 240500 300900 soy cake meal 117700 170200 soybean oil 2400 x 8100 cotton y 60200 31900 x minus total
the ecgd suspended its cover for exports to nigeria in 1983
lanston and co inc
in a discussion of the offer warburg pincus said moorhead told the meeting there are no plans to raise the 350 dlr bid
the companys exploration partnership received an average price of 184 dlrs per mln cubic feet for gas sales during 1986 down from 304 dlrs in 1985
washington has said the attack was in response to a missile strike against the american flag tanker the sea isle city in kuwaiti waters on friday
asa says ec oilseed policy illegal under gatt
february broad money growth was steady at 07 pct from the previous month and unchanged from february last year
westpac banking corp wstps was one of the first to take advantage of the changes by announcing today it would double its stake in the sydney firm ord minnett ltd to 100 pct
1985 4th qtr includes loss of 79395 dlrs from discontinued operations
a senior economist with banque indosuez said the focus was now on trade and growth rather than interest rates
on another issue poehl has said the bundesbank is likely to lift restrictions on private use of the european currency unit ecu at one of its meetings soon
tam said the dollar has hit short term chart targets and is likely to rebound
there was no indication of measures being taken against the mine which is in iranian territorial waters
japan february wholesale prices fall 01 pct 06 pct january drop official
israels five year plan to boost agriculture
the company said the major causes for the reduction were an unfavorable lifo adjustment and softer than projected sales in the quarter due primarily to unfavorable weather
the legislation was passed in the wake of the may 17th iraqi missile attack on the us frigate stark in the gulf which killed 37 americans and reagans decision to protect 11 kuwaiti oil tankers by putting them under us flags effectively making them american ships
spokesman marlin fitzwater said president reagan had no position on recommendations submitted by energy secretary john herrington to encourage investment in the hard hit domestic oil industry
the sources said french traders planned to sell 775000 tonnes into intervention stocks west german traders 7500 tonnes and dutch traders 2500
of those 37 super giants only 11 lie outside the middle east
oper shr one ct vs 13 cts oper net 17806 vs 312692 revs 1318165 vs 2239349 nine mths oper shr 27 cts cs 28 cts oper net 640156 vs 671291 revs 5612818 vs 5632044 note oper excludes gain from discontinued operations of 15598 for year ago qtr and loss from discontinued operations of 49040 for year ago nine mths
oper shr eight cts vs two cts oper net 119000 vs 32000 sales 120 mn vs 113 mln note current qtr figures exclude loss from discontinued operations of 30000 dlrs or two cts per share vs loss of 54000 dlrs or four cts per share
gac liquidating trust gactz year net
the loan to finance imports of plant machinery and raw materials will be repaid in nine equal instalments from the seventh year
bonds and treasury bills will be issued in denominations of 1000 dlrs and treasury bills in a minimum denomination of 10000 dlrs
shr 656p vs 5031p final div 6p making 8p vs 13p
shr 23 cts vs seven cts net 911000 vs 293000 sales 881 mln vs 748 mln
the government had to aim for more competition it said
corporation officials told the country has already imported 37000 tonnes of sugar and will buy 113000 tonnes more to make up shortfall in the 1986 87 year ending june 30
the telecommunications business a 2000 mile fiber optic system for long distance use will not be profitable until late 1988 williams said
the forecast for private consumption growth remains unchanged at three pct although public consumption is revised upwards to 25 pct from 20 pct
unilever nv final dividend remains 1067 guilders as declared with the 1986 results on march 3
the important implication of the maekawa report is that it is finally looking to let japanese enjoy the fruits of their labour said philip caldwell senior managing director of shearson lehman brothers
coastal said raised oil postings 50 cts a barrel october 16
the commodity futures trading commission has approved the minneapolis grain exchanges application to trade high fructose corn syrup 55 hfcs 55 futures contracts the commission said
the cme also received many negative comments many more than we anticipated melamed conceded
money market traders said the move was aimed at easing cash market interest rates which had risen on demand for funds to meet paye tax and treasury note settlement commitments
belgian unemployment based on the number of jobless drawing unemployment benefit fell to 118 pct of the working population at the end of march from 121 pct at end of february the national statistics office said
he said this could bring about what he called a possible automatic capitalisation of those parts of debt interest that could not be paid and even the elimination of a portion of the debt
james sherwood president of the company said he expects to record a loss of approximately 12 mln dlrs for the first quarter compared to losses of approximately 22 mln dlrs for first quarter fiscal 1986
lower production of coconut and palm oils could lead to a decline in vegetable oil stocks this year despite growing supplies of oilseeds senior oilseeds analyst for merrill lynch capital markets mario balletto said
du plessis said no political demands were made by the banks and south africa was now rapidly returning to very good relations with its foreign creditors
the group which earlier this month said in an sec filing it wanted join with other groups to maximize share values said it sold 89000 shares between june 9 and 15 for 15 mln dlrs
harris said the lpfa rule book allows the management committee to take steps as necessary to correct any malpractice and he assured the committee is monitoring the situation
full year figures not available
the issue whose coupon was indicated at 5 8 pct carries a put option after three years at 103 pct
reichhold said it is entitled to redeem the rights at five cts apiece before a 20 pct position has been acquired or before an existing 20 pct shareholder buys an additional two pct or more of the voting power of the company or in connection with certain transactions afterward
the working group broke up for the day into a smaller group of five producers and five consumers to discuss administrative rules and into the group headed by erbynn to hammer out buffer stock rules details delegates said
and gm will raise the cash dividend 25 to 50 cts a share next year he predicted
di giorgio corp said it plans to respond to an unsolicited recapitalization plan proposed by gabelli and co inc after the company its board and its investment bankers evaluate the proposal
in a filing with the securities and exchange commission prospect group said it bought the 527000 brinkmann shares in open market transactions between august 12 and october 16 at 962 dlrs to 1150 dlrs or a total of 569 mln dlrs
the us agriculture department said cumulative sugar imports from individual countries during the 1987 quota year which began january 1 1987 and ends december 31 1987 were as follows with quota allocations for the quota year in short tons raw value cumulative quota 1987 imports allocations argentina nil 39130 australia nil 75530 barbados nil 7500 belize nil 10010 bolivia nil 7500 brazil nil 131950 canada nil 18876 quota 1987 imports allocations colombia 103 21840 congo nil 7599 costa rica nil 17583 ivory coast nil 7500 dom rep 5848 160160 ecuador nil 10010 el salvador nil 260198 fiji nil 25190 gabon nil 7500 quota 1987 imports allocations guatemala nil 43680 guyana nil 10920 haiti nil 7500 honduras nil 159172 india nil 7500 jamaica nil 10010 madagascar nil 7500 malawi nil 9 100 quota 1987 imports allocations mauritius nil 10920 mexico 37 7500 mozambique nil 11830 panama nil 26390 papua new guinea nil 7500 paraguay nil 7500 peru nil 37310 philippines nil 143780 stchristopher nevis nil 7500 quota 1987 imports allocations swaziland nil 14560 taiwan nil 10920 thailand nil 12740 trinidad tobago nil 7500 uruguay nil 7500 zimbabwe nil 10920
more realistic estimates indicate that 1988 production will be between 15 and 16 mln tonnes the report said
tultex corp ttx 2nd qtr may 30 net
the statement said bhpgm would also hold bhps 45 pct stake in the coronation hill property in the northern territory and its 55 pct stake in a new venture near gympie queensland
the selling concession is 1 1 2 pct while management and underwriting each pay 1 2 pct
amex said the unit which trades stocks and options is small in comparison to other specialist units
for the moment for japanese borrowers marks are expensive he said
the gdp deflator based on expenditure at market prices rose 12 pct in the fourth quarter from the third to give a 24 pct rise over fourth quarter 1985
europeesche made a loss of nine mln guilders in 1985 which narrowed to 45 mln guilders in 1986 van leeuwen said
us august trade data showed the us deficit at a still massive 1568 billion dlrs
swiss unemployment edged down to 09 pct of the working population from one pct in january and in february 1986 the federal office of industry trade and labour said
a group led by rosewood financial inc has also disclosed ownership of 62 pct of comdatas 190 mln shares outstanding and said it might seek to increase its interest to over 15 pct
there was excitement a fall in the weekly treasury bill rate to 97 pct from 102 pct last friday might mean the bank had changed its mind
gulf canada corp said it acquired a 25 pct working interest in the gulf of suez oil concession for undisclosed terms
cut were baker internationals senior debt to a minus from a and commercial paper to a 2 from a 1
ecuador adopts austerity measures after quake
the combination would incrase americans share of the us market to 154 pct from its current 147 pct the dot said
usda estimates australia wheat crop
shr 70 cts vs 54 cts net 167 mln vs 125 mln revs 3436 mln vs 3231 mln avg shrs 239 mln vs 248 mln nine mths shr 198 dlrs vs 123 dlrs net 469 mln vs 278 mln revs 9605 mln vs 8932 mln avg shrs 242 mln vs 249 mln note 1986 figures reflect the adjustment for 3 for 2 split in may 1987
consul restaurant corp chief financial officer robert lamp told analysts a previously announced conversion offer will reduce its debt to equity ratio to 55 pct from 380 pct assuming full acceptance of the offer
period ended jan 31 shr loss 89 cts vs loss 82 cts net loss 5187000 vs loss 5362000 revs 1284 mln vs 503 mln six mths shr loss 127 dlrs vs loss 104 dlrs net loss 7015000 vs loss 6790000 revs 2647 mln vs 973 mln note full name is great american management and investment inc
comerica inc said it raised its prime interest rate to 7 3 4 pct from 7 1 2 pct effective april 1
the bank said it will offer 200 mln dlrs of bonds maturing march 1990 and 200 mln dlrs of bonds maturing july 1992
he said polish products were not competitive and their quality was too low
us corn acreage seen near record low
the soviet union bought almost 90000 tonnes of raw sugar from international trade houses last night with some of the sugar changing hands at discounts to the spot may world sugar contract according to trade sources
dome mines shares traded earlier at 15 1 4 dlrs off 1 4 on the toronto stock exchange
hre properties said its board cut the quarterly dividend to 45 cts per share from 57 cts payable april 20 to holders of record march 31
baltimore gas and electric bge files debt
barclays midland follow natwest base rate cut
private wealth is still very high and banks report more and more cash being placed on deposit
last week caesars board approved a recapitalization plan as an alternative to the sosnoff offer under which shareholders would receive a special dividend of 25 dlrs per share subject to approval by shareholders at a special meeting to be held in june
texas planted 10 pct compared with an average of eight pct
brougher insurance group inc said it plans to sell 40 pct of the stock of its subsidiary intercontinental corp for one mln dlrs to three european insurance companies
shr 285p vs 266p
earlier today the italian company postponed a scheduled press conference on its talks with antibioticos
the company said it is redeeming these notes as part of its continuing effort to reduce the average cost of its debt
meanwhile ecuador announced an austerity program and a price freeze on key consumer goods as a result of the earthquake which killed at least 300 people
shr 51 cts vs 46 cts shr diluted 44 cts vs 41 cts net 2267000 vs 2055000 sales 873 mln vs 704 mln nine mths shr 120 dlrs vs 112 dlrs shr diluted 107 dlrs vs 103 dlrs net 5318000 vs 4958000 sales 2437 mln vs 1987 mln
the average manufacturing work week rose 03 hours to 412 hours the longest factory work week since november 1966 the commerce department said
under the agreement sudan will receive 50 mln dlrs for the commodities and the rest for sea transportation
delegates also passed unanimously a resolution that congress and the administration should act swiftly to identify problems in the farm credit system
balances in tax and loan note accounts fell to 4950 billion dlrs from 5004 billion dlrs on the same respective days
when poehls contract came up for renewal earlier this year chancellor helmut kohls cdu led coalition government gave poehl another eight year term
according to the companies virginia federal has over 700 mln dlrs in assets and operates 16 branches in virginia
argentine observer critical of debt stance
sunflowerseed 1986 87 production is still forecast at 23 to 26 mln tonnes 341 to 415 pct below the 1985 86 record of 41 mln tonnes
harcourt brace jovanovich inc said it is disappointed that no negotiations with harper and row publishers inc are underway
once nec cuts production it means they all have still pressures remain to keep production high
but one source close to opec indicated that february output may have been between 153 and 155 mln bpd
the plant which has been grown in southern texas reaches a height of 10 feet in three months and is said to produce better quality newsprint than wood pulp a cip official said
the bond is available in denominations of 5000 and 50000 dlrs and will be listed in london
the brazilian government has already agreed to invest an additional 65 billion yen in albras in which investment now totals 932 billion yen but its stake will not change from 51 pct the official said
in 1990 the company would be decapitalized 874 mln bolivars
the company has also set a dividend of 11 marks for new preference shares which were issued last year
drawings will be at 10 basis points over the london interbank offered rate plus mandatory liquid asset requirements or a 10 basis point sterling acceptance commission
timminco ltd said it acquired universal adhesives inc of memphis for undisclosed terms in a move to expand timmincos operations into the united states
murphy oil said it increased its crude oil posted prices by 50 cts a barrel effective june 17
uk intervention board details ec sugar sales
royal bank of canada said it classified 13 billion dlrs in medium and long term loans to brazil as non accrual leading to a seven pct drop in second quarter profit
family health systems inc fhsy 2nd qtr feb 28
this is no secret
algeria will tender on april 3 for 20000 tonnes of optional origin sunflowerseed oil rapeseed oil for apr may loading traders said
theyve outlined the fact that theyre investing heavily in the future which goes heavily into the international arena said lewis
group orders 1103 billion francs vs 1300 billion
ico producers and consumers could not agree on how to calculate export quota shares at a recent council meeting here
it did not give a specific 1987 profit forecast
sunflower harvesting before the weekend rains reached 26 to 30 pct of the area sown in santa fe cordoba la pampa and buenos aires provinces
staffan paues president of the new brussels based joint venture company diamant boart stratabit sa dbs told a news conference that the merged firm would be able to offer products for all types of drilling operations
the us should reassess its mideast policy in light of its rising dependence on imported oil according to charles ebinger of the center for strategic and international studies
salzgitter said it decided to give up its own original plans to seek a majority stake in sachs after holding talks with the government in bonn
royal said from six months after closing until one year after montagu also has the right to require royal to repurchase any or all of the 200000 shares at 450 dlrs each
great american gta gains over 80 mln in loans
unusually cold weather in january and smaller increases in roughage supplies during 1986 than in 1985 kept livestock production from expanding as much as it did a year earlier usda said
he told a lower house budget committee in parliament that it was natural for other nations to think that japan is not doing enough because of the delay in the passage of the 1987 88 budget
baker emphasized that indicators were a device for moving beyond rhetoric to action he said they provide more structure to the system and induce more discipline and peer pressure into the process of policy coordination he said the funds procedures for surveillance need to be reviewed and updated to reflect the use of indicators
although several new sterling deals are expected in early trading the only sterling denominated one to emerge was a 30 mln convertible deal for british land co plc
the 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 possibility is that commerce bank would like to see it sold at these levels because they can get more for it now than they have been able to in recent years he added
iadb officials said washington had indicated however it might be prepared to compromise in the future
bank of finland issues cds for first time
because of seasonal factors its difficult to determine what this means for the economy down the road said allan leslie of discount corp
however he was skeptical a company outside the package delivery industry would want to outbid 40 dlrs per share because it would not have the same synergies as a courier company
the federal reserve entered the us government securities market to arrange two billion dlrs of customer repurchase agreements a fed spokesman said
ec to abolish tax on spanish maize exports
shr 71 cts vs 49 cts net 643 mln vs 437 mln revs 8382 mln vs 7426 mln avg shrs 899 mln vs 899 mln
farah inc said it omitted its quarterly common stock dividend for the second consecutive quarter
but even beyond swap related activity dealers said the nature of trading in london has changed
in other sectors the comet electrical chain raised retail profits by 46 pct to 174 mln stg while the woolworth chain reported a 120 pct improvement to 387 mln
results in the first few months show it heading in the right direction company president klaus jacobs said
but everything hinges on tomorrow
other recipients were peoples republic of china 1104 1000 holland 1002 1500 ussr 500 500 and other areas 178 tonnes 564 sales to the uk west germany france and other western and eastern european countries are hidden under the heading holland as minpeco sells to customers in these countries from stocks the company normally holds in rotterdam the statement said
gendex corp xrayo 2nd qtr sept 30 net
president reagan has reaffirmed his opposition to protectionism and his chief spokesman said trade sanctions imposed on japan were unlikely to start a trade war
greenspan sees evidence dollar fall over
johnson says feds actions yesterday meant to stabilize dollar at current levels
the museum said it is hopeful of filing a plan in the near future
bancroft said the suit also names georgeson and co inc zicos information agent and luthie intercontinentale inc a panamanian corporation
he forecasts a rise of two pct after januarys 67 pct slump
fiduciary trust co international said its shareholders at the annual meeting approved a five for one stock split effective may 15 1987 to holders of record on april 15 1987
usda said the petitioning firms claimed companies avoid using mechanically separated meat in their products because the term carries an unwarranted negative connotation in the minds of many consumers
finance minister palle simonsen said in a statement last night that the downgrading the second in four years should not be over dramatised pointing out that the government had already imposed a series of austerity measures to limit consumption and was willing to act again if necessary
jacobs sold his stake after borg warner after the company failed to respond to his mid february offer for a negotiated agreement at a minimum price of 44 dlrs a share
panteras corp said it agreed in principle to acquire pizza inn inc in a cash and stock transaction
the new financing for italfunding being syndicated among about five major international banks will be a fully underwritten revolving facility with an average life of seven years and the facility will fund the loan
usair group inc said a us district court in pittsburgh issued a temporary restraining order to prevent trans world airlines inc from buying additional usair shares
the transaction looks highly unlikely to be completed at present
the provincial government purchased 15 mln dlrs of the companys class a preferred shares
anything we do we will be bashed the senior official sounded pessimistic about the likelihood of prime minister yasuhiro nakasone defusing us anger over japanese trade practices when he visits washington on april 29
but netbacks for crude oil refined in singapore fell sharply down 15 cts to as much as 68 cts a barrel as ample distillate supplies weighed on petroleum product prices
charter said the merger is subject to approval of the federal home loan bank board
remarks by central bankers raised some hopes the bundesbank will cut rates on securities repurchase pacts but operators remained divided on the likelihood of a move in the near term money market dealers said
twa and usair have also agreed that all litigation between them in pittsburgh and delaware will be stayed until april 23
demand totalled 1845 billion francs at prices between 9470 and 9710 pct
cri insured cii to set special distribution
sosnoff did not detail the value of the proposed compensation
the company has assets of around 240 mln stg and employs 17000 at 15 sites in britain
boston edison co bse regular dividend
ministers also called on the european commission to prepare a report on us japanese trade for july this year to enable them to take action where necessary
tony loma co inc tlam 4th qtr
nigel lawson britains chancellor of the exchequer said some countries may need to cut interest rates with the aim of maintaining exchange rate stability
shr 333 dlrs vs 339 dlrs net 37069000 vs 36902000 avg shrs 1095 mln vs 1005 mln
general acquisition also said if the board decides to accept an alternate proposal it asked that it not accept a plan that would include defensive features
iran is in the drivers seat in an absolute sense as the cycle of attack and retaliation continues said fred axelgard a gulf war expert with the private center for strategic and international studies csis its like a greek tragedy said retired adm
nearly 90 pct of the surplus was with the us vice economic minister wang chien shien agreed with wangs remarks and said efforts to avert us protectionism were running out of time
they can be sold freely on the stock market by simple endorsement while debentures can only be sold to the company after one year brokers said
it said it took the action since the charge offs will significantly deplete its allowance for possible loan losses and the economic environment does not show signs for significant improvement in the near future
opec has shown itself to be in control of the world oil situation with its speed in hammering out a pact to limit crude oil output to 166 mln barrels per day bpd for the rest of 1987 oil traders said
us officials said the japan livestock industry promotion corporation which regulates beef imports was forced to borrow from the fiscal 1987 quota earlier this year because the 1986 quota was exhausted and japanese beef prices were rising
market speculation is that the other two potential bidders are not canadian companies and duponts dd conoco and atlantic richfield co arc are mentioned as possibilities wilf gobert of peters and co ltd said
under the cartel proposals 33 yards each capable of building ships of more than 10000 gross tonnes would build a maximum of three mln compensated gross registered tonnes cgrt in 1987 88
rep
we have learned that we can live without the quotas that were suspended in february last year but would prefer the stability they can bring to the market as long as we do not simply return to the old and outdated status quo as far as quota allocation is concerned he added
im not sure this is an about face but its clearly a recognition that unless were competitive we wont sell to the soviet union said a lobbyst for a major commodity group
if brazils suspension of interest payments remains in effect earnings for the whole year will be reduced by a further 100 mln dlrs
but this again could benefit prices a buyer said
the government has predicted that inflation this year would be slightly lower than in 1986 when it reached 209 pct
spokesmen of ariadne jacksons and neptunia were not available for comment nor any officials of the philippines
taiwan is not expected to export sugar this year because of falling production and growing domestic consumption state owned taiwan sugar corp said
uk money market shortage forecast revised down
paton reports us green coffee roastings higher
loans and advances from the dutch central bank to the commercial banks rose by 12 billion guilders to 107 billion in the week up to and including april 6 the banks weekly return showed
im concerned about what i see in recent data showing a substantial fall in the money supply edwin dale millers spokesman said the remarks published in the new york times today were accurate
dividend payable after general meeting on june 4 books close april 22 to may 5
international coffee organization ico producing countries will present a proposal for reintroducing export quotas for 12 months from april 1 with a firm undertaking to try to negotiate up to september 30 any future quota distribution on a new basis ico delegates said
the us benchmark crude west texas intermediate is trading around 2055 dlrs in the july contract on new york mercantile exchanges energy futures and in the spot market
indonesian crude palm oil exports in the first 11 months of 1986 were 469100 tonnes according to central bank figures against 652000 tonnes in the whole of calendar 1985
placer has said the prospect has an estimated 14 mln tonnes of ore with a three gram per tonne concentration accessible by open pit mining and a further 45 mln tonnes with a 44 gram a tonne concentration between 300 and 600 meters underground
cathay 51 pct owned by swire pacific ltd swpchk made its earnings forecast in the prospectus for its flotation in may last year
currency fluctuations reduced pretax profit by around one mln stg it noted
islamic bank makes 123 mln dlrs of loans
interpart a luxembourg based holding company chaired by italian financier giancarlo paretti payed around 122 billion pesetas in july to acquire a 635 pct stake in renta inmobiliaria
zimbabwes real gross domestic product increased 02 pct in 1986 according to preliminary figures published by the central statistical office cso this contrasts with a rise of more than nine pct in 1985
overall lears aerospace groups eight subsidiaries employs 7200 people
us oil stocks rallied in response to the offer
magna groups as of dec 31 1986 had assets of 147 billion dlrs
texaco shares were being indicated by over the counter share dealers here at around 26 to 28 dlrs compared with fridays close in new york of 31 7 8 dlrs
usair had said earlier today that it asked the dot to dismiss the twa control application on grounds the twa filing did not meet dot requirements
in a suit filed in us district court international multifoods said bregman partners and its affiliates who reportedly hold 74 pct of the companys shares tried to induce multifoods management to join them in an effort to take the company private and give controlling interest to bregman partners
in view of this imbalance we dont believe it is unreasonable to ask for a change baker said
he said the debate on dedramatising ems realignments reflected a general feeling among participants that the way the january reshuffle had been conducted was unsatisfactory
us officials said they held out little hope the european community ec would withdraw a controversial meat inspection requirement due to go into effect april 30 and which us meat producers claim will cut off their exports
but the officials said the debate has been inconclusive
the industry is not as worried as it was two weeks ago but rainfall is still below normal and good soaking rains are needed in some areas notably in the burdekin and mackay regions he said from brisbane
healy projects gm will earn five dlrs a share in 1987 and 550 dlrs in 1988 compared to 1986 earnings of 821 dlrs
there are signs of life in the economy mccarthy said
a senior bank official who declined to be named told the reserves were likely to reach 72 billion dlrs at the end of the year
they said they might revive merger plans at a later date or seek other ways for clabir to increase its holdings in ambrit
such a delay would not bode well for proponents of an expanded 0 92 program since spring planting in many areas of the country will be underway in the next few weeks and signup for the 1987 wheat and feedgrains program ends march 30
talking point dome petroleum dmp 
paris traders foresaw between 60000 and 100000 tonnes being authorised for export at a 4640 4650 ecu subsidy
ccr video 1st qtr nov 30 net
these are normally between the rates on 10 year government bonds and private corporate bonds
a new jersey investor joseph falkenstein told the securities and exchange commission he holds 52 pct of the shares of kinark corp
instead they have focused on medium term policy goals but left room to adjust their agreements with periodic meetings
tranche a of 50 mln dlrs carries interest at 30 basis points below one month bank bill rate payable monthly and tranche b of 25 mln dlrs carries interest at 25 basis points below three month bank bill rate payable quarterly
merrill lynch capital markets and salomon brothers inc co managed the deal
southwestern energy swn arkla alg set pact
y includes ill
france says us had right to strike
shr 122 dlrs vs 128 dlrs net 2264 mln vs 2339 mln assets 8045 billion vs 7023 billion loans 3516 billion vs 3599 billion deposits 4522 billion vs 3968 billion return on assets 114 pct vs 135 pct return on common equity 1820 pct vs 2208 pct note 1987 qtr net was reduced by 20 mln dlrs because 13 billion dlrs of loans to brazil were placed on non accrual
international business machines corp said it formed a new business group to sell and support telecommunications products
usair did respond however to a twa request to the department of transportation for permission to buy up to 51 pct of usair stock and place the stock in a voting trust pending approval of a takeover
federal funds which averaged 625 pct yesterday opened at 6 1 16 pct and moved in a narrow range between there and six pct in early trading
the profit figure of 1153 mln stg exceeded a forecast by some 10 pct made during the hostile bid by dixons group plc dxnsl last year and the company said the results were a major step towards the aim of making woolworth the most profitable retailing group in the uk it aimed to produce growth from all its businesses and look for opportunities to acquire specialist retail businesses
us agriculture secretary richard lyng will ask the japanese government to remove all beef import restrictions when he visits there next month
datamag inc dmag 1st qtr dec 31 loss
pnc financial pncf unit upgraded by moodys
some analysts said foreign investors had long ceased to watch the sterling m3 target and lawsons move to scrap it altogether earlier this week removed whatever was left of its credibility as a key factor in monetary policy
todays meeting was part of the uruguay trade round launched by ministers last september
limited shipping restrictions due to high water remain in force on parts of the west german stretch of the rhine river between the dutch border and the city of mainz but most are expected to be lifted this weekend
terms were not disclosed
porsche half year earnings called satisfactory
the seaway authority said a walkout tying up ships on the great lakes would badly hurt traffic
mcleans mii us lines sets asset transfer
anz bank in nz raises indicator lending rate
dayton hudson corp dh votes quarterly payout
the sanctions are against the free trade system ministry of international trade and industry miti director general noboru hatakeyama told reporters adding if these measures are taken the atmosphere in japan against the united states would become not so good as before other officials were more blunt
systematics inc syst regular payout
due to favorable support prices corn area increased by more than 25 pct at the expense of soybeans and yields are expected to be above average it said
it said the shareholders had called for the resignation of all but one of computer identics directors and suggested that a new board pursue merger talks with imtec
the centre said that in general the outlook for the swiss economy in 1987 and 1988 remained favourable despite the more difficult international economic climate facing export industry
rbi said under the new rule 16 other products will qualify on a discretionary basis for overseas promotional spending of not more than two pct of the freight on board value of annual export earnings
fees comprise 1 1 4 pct selling concession and 5 8 pct management and underwriting combined and listing will be in london
the finance ministry has asked japanese commercial banks to moderate their dollar sales bank dealers said
finance minister kiichi miyazawa told a parliamentary session the current dollar yen exchange rate is not necessarily satisfactory for the japanese economy
itel itel buys castle cooke cke unit assets
continuation of an underground program on the property will begin in june extending an existing drift along the 200 foot level where the main ore zone was encountered giant bay said
gould inc gld offering of two mln shares of convertible exchangeable preferred stock through first boston corp and kidder peabody and co inc
at the request of the board rorer has agreed to extend until 1800 edt july 2 its deadline for response from ah robins
atlantic richfield aware of the rumors issued a statement around mid day that it was considering a sale of only 20 pct of the unit leading investors to take profits
after the five years are up under certain circumstances the shares of encor may be required to be disposed the company said
austria increases bond to 75 mln australian dlrs
washington said the operation was aimed at destroying positions used by iran to track and assault neutral gulf shipping
oper shr loss 40 cts vs loss 10 cts oper net loss 2136000 vs loss 467000 revs 219 mln vs 129 mln 12 mths oper shr loss 63 cts vs loss 30 cts oper net loss 3499000 vs loss 1756000 revs 820 mln vs 545 mln note excludes income from discontinued operations of 1478000 vs 952000 for qtr and 312 mln vs 6500000 for year
ingersoll rand co ir 3rd qtr net
financial corporation of americas american savings and loan association unit said it signed a definitive agreement to buy three retail savings branches from gibraltar financial corps gfc gibraltar savings unit
january imports fell to a provisional 22886 billion francs from 24024 billion in december and 28165 billion a year earlier but exports were also lower at 21941 billion francs against 25556 billion and 25834 billion respectively
period ended december 28
the sources said the philippine government estimated the entire program would cost 60 billion pesos
over the past 18 months the price moved to a ten year low of 3400 stg in march 1986 and rebounded to as high as 4680 stg in december 1986
computer horizons corp said it purchased computerknowledge inc a software training education company headquartered in dallas
general electric cos ge semiconductor business said it agreed to sell its datel unit to a group led by the units president nicolas tagaris
insituform iglsf raises stake in unit
it said the dividend is payable may 1 1987 to shareholders of record april 15 1987
the proposed restructuring will reduce weatherfords cash requirements by about three mln dlrs in 1987 and 25 mln dlrs in 1988 it said
the new domestic policy introduced on march 15 is for the government to supply unlimited quantities of wheat at two rupees per kilo
strawbridge strw declares stock dividend
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
for this reason we in europe must avoid everything used by protectionist forces in the us as pretexts he added
xebec xebc to report 2nd qtr loss
but bankers said a move toward a greater governmental role will be gradual
there is no real need to boost private consumption he said
total borrowings in the week rose 83 mln dlrs to 502 mln dlrs with extended credits up three mln dlrs at 274 mln dlrs
west germans to mint community anniversary coin
theres no reason to get worries about inflationary pressures because theyre very subdued unit wage cost rises were better than expected just one pct higher in the year to april and it was these costs rather than average earnings which were potentially inflationary he added
average earnings were 200 roubles a month against 194 roubles a year ago
the united states has excessive expectations he said
for the time being however the march employment report increases the likelihood they wont tighten regardless of the dollar
yeutter blasts proposed ec oils and fats tax
the spokesman said the relaxation of exchange controls highlighted a broader package of reforms announced last friday
the company also said it expects capital spending to rise to about 355 mln dlrs in 1987 up from 289 mln dlrs a year ago
moodys investors service inc said it may downgrade 12 billion dlrs of debt of chrysler corp and its units including chrysler financial corp
ladd furniture ladfo completes acquisition
canada prices 12 billion dlr bond issue
indias trade deficit is provisionally estimated at 5834 billion rupees in the first 10 months of fiscal 1986 87 ending march compared with 7062 billion in the year ago period the commerce ministry said
pacificorp said it acquired thomas nationwide computer corp for 25 mln dlrs in cash and 15 mln dlrs in deferred consideration depending on the future performance of the company
the trade surplus doubled in february to 261 mln dlrs from januarys 129 mln but was below the 628 mln of february 1986 official figures show
japans broadly defined money supply average of m 2 plus certificate of deposits cd rose a preliminary 90 pct in march from a year earlier compared with an 88 pct rise in february the bank of japan said
the warrant may be exercised within five years at 950 dlrs per share
weve opposed it in the past
the share analysts say vw will have to dig into reserves in order to maintain the disclosed 1986 profit at 1985 levels
over the next two days it expects 2 26 2 27 due 27 35 scheduled to transit 35 41 end day backlog 31 25 average waiting time tomorrow super tankers regular vessels north end 13 hrs 15 hrs south end 4 hrs 26 hrs
ameron amn adopts shareholder rights plan
edelman of drexel said that hudson had a tougher comparison because it had an exceptionally good 1986 most analysts agreed that promotions are slightly lower than last year
union texas said its fourth quarter loss was increased to 295 mln dlrs from 215 mln dlrs reported previously and revenues reduiced to 214 mln dlrs from 228 mln dlrs
davis mining revises offer for becor bcw 
net income for 1985 has been restated due to a change in the method used in computing deferred acquisition costs
1985 revs restated to exclude revenues from discontinued coal mining operations
the notes themselves have a 3 3 8 pct coupon and are priced at par
normally winterkill is caused by inadequate snowcover combined with cold temperatures
the pioneer group inc said its 70 pct owned teberebie goldfields ltd venture has been granted an additional concession of land in ghana to look for and mine gold
it said the bundesbank could hold them down despite strong foreign influence and it saw no interest straining factors in the economy that could affect the long term capital market
repeal of the fuel use act a federal law prohibiting the use of natural gas in new manufacturing plants and utilities could increase demand for gas by as much as 15 pct he said
shr 23 cts vs 18 cts net 509144 vs 277834 revs 2258341 vs 1328634 avg shrs 2177553 vs 1564605 nine mths shr 55 cts vs 42 cts net 1150633 vs 649914 revs 6169168 vs 3178115
an international protocol to severely limit the use of industrial chemicals which are believed to damage the earths protective ozone layer could be signed this year officials and scientists here said
it also operates a fully integrated poultry business and a rendering business markets livestock and poultry feed and distributes grain through a network of country and terminal elevators
you will certainly see substantial growth in allied lyons in the second half holden brown said following a presentation to toronto securities analysts
revenues from the trail smelter totalled 356 mln canadian dlrs in 1986
its move followed a signal from the bank of england earlier this afternoon that it would endorse a half point cut in the base rate a surprise move following its strong signals last week that such a move would be premature
they creditors asked for the maximum amount and we offered the minimum said one banking source reacting to reports from london that creditors were hoping for larger repayments
no early redemption will be permitted
they will also get rights to income tax deductions equal to the price of each unit
the recent price hike represents the fifth this week totalling 475 cts
rabbit software rabt to make acquisition
such cutbacks cannot in certain cases be sustained al wattari said
banking sources said they expected the bank to announce it will actively take part in the interbank market and buy and sell certificates of deposit
palm oil production is expected to increase by over 70 pct in 1987 to 145 mln tonnes from 135 mln with exports rising to an estimated 720000 tonnes from 695000 tonnes in 1986 the report says
a weakening dollar was mainly responsible for a five pct negative impact on sales during 1986 which the company blamed on currency movements
group lifts stake in scandinavia fund scf 
industry sources say nigerias customers believe its bonny grades are overpriced compared with compatible brent crudes from the uk north sea
the sale of the governments 2555 pct stake in veba ag vebgf is still expected this month banking sources closely linked with the transaction said
roussel uclaf rucfpa and most domestic non consolidated partners did not perform as well as in 1985
southland slc unit raises crude oil prices
gaf in its letter stated it intends to finance the proposed acquisition entirely with its own funds and bank borrowings under a syndicated bank loan from a group of banks led by chase manhattan corps cmb chase manhattan bank
gotaas larsen gotlf to build fifth carrier
brooklyn union will continue receiving a small amount of supplies from minor fields under a grandfather clause a brooklyn union official said
americus trust for american telephone and telegraph shares series two said it will distribute an initial dividend of 2875 cts on may 12 to shareholders of record march 31
pinola said he believes the solution to the brazilian debt crisis will be more political than economic which he said he finds very disquieting and discomforting
but he said that without increased and faster lending from official institutions the nation could not rely on its export earnings to finance development and imports and also service its debt
the commerce department said wage and salary incomes were up 156 billion dlrs in february after an 86 billion dlr rise in january
double eagle petroleum and mining co dblbo 
the commodity credit corporation ccc has accepted a bid for an export bonus to cover the sale of 15000 tonnes of frozen poultry to iraq the us agriculture department said
mark iv says it does not plan baird batm buy
newmont said it will also ask shareholders to approve amendments to its certificate of incorporation limiting certain liabilities of its directors
year 1986 net profit 6355 mln guilders vs 6034 mln
walgreen co wag votes quarterly dividend
japanese crushers have bought some 214000 tonnes of brazilian soybeans for late april early july shipment and may buy up to 140000 to 190000 tonnes more for june to august shipment trade sources said
canadas industrial product price index rose 02 pct in january after falling 02 pct in each of the two previous months statistics canada said
a top swiss banker called for an obligatory continuous rating for all swiss franc bonds and said he believed anyone buying more than five pct of a company should be made to declare their share
payment date is may 5
sand technology sells under its trademark computer accessories such as disk drives solid state memory enhancement devices and printers manufactured by hitachi ltd hit of japan
stoltenberg reiterated west german concern about a further fall in the dollar noting that the mark was up 85 pct against the dollar and nearly 20 pct on a trade weighted basis
in the netherlands the cost of living is expected to decrease by 15 pct at a gnp growth rate of two pct the dutch central planning agency said in its 1987 forecast last month
energy prices for consumers were still nine pct lower than a year earlier it said
who benefits from that
a bank statement said the continuing rise in the cost of funds had to be passed on to the lending customers
after expecting improvements in two previous quarterly surveys 56 pct of respondents reported working at less than satisfactory levels with insufficient orders nominated by 70 pct as the major constraint
i would like to stress that the bundesbank has no interest in higher capital market rates he said
morgan stanley is the underwriter it said
forest city enterprises inc said it completed the previously announced sale of assets of its retail store division excluding real estate to handy andy home improvement centers inc a private gurnee ill firm
in addition consolidated tvx said it will acquire the right to add a 10 pct interest to a platinum property in which it already owns a 294 pct stake
spar added that lower development costs in the communications group and a return to normal operations in gears and transmissions and aviation services will remove a serious drain on profits this year
the increase brings the price for 05 pct sulphur fuel to 2150 dlrs up 50 cts 07 pct sulphur to 21 dlrs up 75 cts 07 pct sulphur to 21 dlrs up 75 cts one pct sulphur to 2025 dlrs up 75 cts two pct sulphur to 1975 dlrs up one dlr 22 pct sulphur to 1950 dlrs up one dlr 28 pct sulphur 19 dlrs up one dlr the company said
maytag myg sees capital spending up in 1987
taiwans central bank announced that as from today the overseas foreign exchange borrowings of local and foreign banks would be frozen at the level they reached at the end of may
mdc holdings inc mdc sets quarterly
allegheny ag prefered shareholders file suit
aaron brothers art marts inc aarn 4th qtr net
includes restructuring charges of 120 mln dlrs for qtr 527 mln dlrs for 12 mths
opec output for the second half of 1987 including that of iraq will be above the official 166 mln barrels per day bpd output ceiling agreed by opec saturday kuwait oil minister sheikh ali al khalifa al sabah said
goodyear also paid him 37 mln dlrs for expenses and bought about 41 mln other shares for over two billion dlrs
the newspapers overseas edition said the plant will produce 300000 tonnes of ethylene a year
he said the company had talks with home shopping network inc hsn prior to that companys public offering last year but nothing came of the talks
negotiations with the iranians for 1987 shipments were currently under way with iran again seeking credit and barter provisions he said
federal reserve board governor martha seger following approval of the proposed guidelines by the fed said she is concerned that japan was not involved in the uk us effort to draft new capital rules
the speech comes after washington delayed its bid to wrest control of iadb lending from latin nations
loss 756 mln gross sales 593 billion vs
final terms will be set on april 7
hecht formerly chief executive will act as chief operating officer
royal resources corp rrco 2nd qtr dec 31 loss
the us agriculture department estimated canadas 1986 87 wheat crop at 3185 mln tonnes vs 3185 mln tonnes last month
the proposed acquisition by rosehaugh plc of the general funds investment trust plc was also cleared
and credit suisse and credit suisse first boston each issued swiss franc bonds with warrants for gold which have a similar character though they are aimed at a less professional market
but the dollar rallied on news of mondays meeting in nervous trading to trade above 179 marks tuesday
inchon india 12600 mt bagged sugar 1000 1000 20 4 5 5 a c kaines
triton group ltd trro 4th qtr jan 31 net
most market expectations called for the chancellor to announce a psbr of about 55 billion stg
and it is not just a german problem it is a european problem he said
forced last month to cut the governments 1987 growth target and raise its inflation estimate finance minister edouard balladur ruled out action to stimulate the economy
febres cordero said up to a total of 1000 people died or were missing in avalanches and mudslides during the march 5 earthquake
linde expects satisfactory results and increased sales this year but meinhardt gave no detailed forecast
they said brazils reluctance to open coffee export registrations might reflect fears this would provoke another price slide and force an emergency ico council session which would most likely end in failure
it then repriced the issue at 97 to yield 1274 pct
but he told reporters he did not think the ec would impose the tax because of objections from the us theres just so much flak coming from many countries spearheaded by the united states whose soybean exports would be adversely affected
iowa beef processors inc is lifting a lockout at its dakota city nebraska processing plant and plans to resume operations march 16 united food and commercial workers ufcw union spokesman allen zack said
finally a fed spokesman told a press briefing that the 14 money center banks were absent from the feds discount window for the third week running with the latest weeks borrowing split between the large regional and the smaller banks
the diplomats said the united states had been the most outspoken among foreign critics of the proposal describing it as a breach of the ecs obligations under the world trade body gatt
the aggressive use of the treasury bill program has meant that the government is now able to maintain lower cash balances and lower financing costs the bank of canada said in its 1986 annual report released this week
standard and poors corp said it lowered the ratings on about 37 billion dlrs of beneficial corps long term debt
pennsylvania power ppl offers preferred stock
minas gerais state guaxupe nil tres pontas nil
shr loss 282 dlrs vs profit 35 cts net loss 10556478 vs profit 1286341 revs 6202157 vs 7641290 note 1986 shr and net after 10282353 dlr writedown on oil and gas property values
spring potato yield per harvested acre is forecast at 244 cwt per acre vs 261 cwt per acre a year ago usda said
sterling peaked at a high of 16075 dlrs before settling to a steady 16050 about 1300 gmt nearly a cent higher than the european low of 15960
fresh talks have been scheduled for next tuesday he said
the decision means the sale by us parent companies of eurobonds through netherlands antilles subsidiaries will no longer be free of the 30 pct us withholding tax the spokesman said
the guarantee rates include a charge to provide for a yearly interest rate coverage of up to 45 pct on the guaranteed value the department said
a 100 mln dlr offering of xerox credit corp 12 year notes was given an eight pct coupon and priced at 99534 to yield 8061 pct salomon brothers inc said as lead manager
first federal savings ffkz year net
taiwan does not allow direct trade with china and indirect trade is routed mainly through hong kong
cinram ltd 4th qtr net
as part of the agreement the two companyies are working together to establish procedures to produce class s a stringent military specification for space use gallium arsenide components
baker sees 15 to 20 billion dlr drop in trade gap
boothe bcmpo makes acquisition
first city industries sells yale and nutone units for 400 mln dlrs and securities
faltering deliverability of natural gas a commodity that is difficult and costly to import in large quantities could more than double the current us rig count to near 2000 by 1990 some analysts said
but the withdrawal from nontraditional businesses is weakening consolidated leverage narrowing funding operations and depressing the quality of earnings moodys stressed
woolworth said it had received acceptances from the holders of 61 pct of superdrug shares
baker and volcker say debt strategy will work
timberline industries inc timbo 1st qtr net
dart seeks supermarkets sgl negotiations
the bank is primarily a development institution not a debt management agency
nz april current account deficit narrows
ccc guarantees to turkey switched to meals usda
the sources said the lower maize crop would be offset by a 25 pct increase in cotton production to 315000 tonnes from 248000 tonnes last year and by a rise of 20 pct in soybean deliveries to 100000 tonnes from 84000 tonnes in 1986
south korea is under us pressure to reduce its bilateral trade surplus which rose to 74 billion dlrs last year from 43 billion dlrs in 1985
showa shell sekiyu kk sholt introduced its formula shell 98 octane gasoline to the japanese market in january this year
cominco had pressed for a three year contract and some loosening of the rules on job classifications
rod stocks held by refiners and rod mills decreased to 61384000 lbs in january from 69986000 lbs in december
russ togs inc rts 4th qtr jan 31 net
shr 24 cts vs 18 cts net 359000 vs 297000 revs 5724000 vs 6430000 avg shrs 14750000 vs 1668000 note qtrs include tax gain of 147000 vs 137000
in addition dtss board resigned and eagleslair appointed new directors the company said
it said the increase is being made to reflect current market conditions
a published report said edelman and dominion jointly acquired a stake in burlington and were weighing a takeover offer
lear siegler holding corp plans to divest aerospace subsidiary
the current ico quota system is unfair and autocratic escalante said
it is not just a domestic issue for japan
sallie mae said the notes will be priced at a spread to the bond equivalent rate of the 91 day treasury bill with the interest being reset the day after each weekly t bill auction
in february retail prices rose 72 pct from january to stand 916 pct higher than in february 1986
baird and co agreed that the need for gas supplies would set the stage for a new cycle of gradual increases in us drilling
total corn commitments for delivery in the 1986 87 season amount to 1083400 tonnes
us credits for ecuador switched to veg oil
westmin resources ltd said it plans to increase capacity at its myra falls british columbia base and precious metal mine and mill complex by 33 pct to 4400 short tons of ore a day subject to regulatory approvals
the spokesman said the fields partners have agreed to develop draugen with a 300 meter single leg concrete gravity base platform
ghana cocoa purchases fall cumulative still up
day to day money is a bit tighter one trader said
budapest bank issues bonds to expand resources
german m3 rose 26 billion marks in february to 10351 billion bundesbank
investments in the communications industry would go mainly to develop the groups cable television activities and its 25 pct owned metropole television affiliate
however schroeder hohenwarth said the decision to cut the maximum rate of income tax to only 53 pct from 56 pct was rather half hearted
seller indications for sunmeal pellets were between one dlr higher and 050 dlrs lower than yesterday while linseed expellers were up to two dlrs above yesterdays midday levels
oper shr loss five cts vs loss nil ope net loss 1211000 vs loss 2000 revs 6626000 vs 110 mln avg shrs 232 mln vs 235 mln year oper shr profit 12 cts vs loss one ct oper net profit 2632000 vs loss 240000 revs 348 mln vs 520 mln avg shrs 229 mln vs 234 mln note net excludes extraordinary tax charges 1919000 dlrs vs 49000 dlrs in quarter and credits 1431000 dlrs vs 2335000 dlrs in year
onics first preliminary forecast of the 1987 88 campaign will be released at the beginning of september an onic official said
another working group is scheduled to meet wednesday to discuss administrative matters and the full council meets on thursday
additionally the companies said charles wang currently computer associates chairman and chief executive will continue as chairman of the new company
the bond will be available in denominations of 1000 and 10000 ecus and will be listed in luxembourg
talks set for today between management and unions to try to solve the labour dispute at cargill uk ltds seaforth oilseed crushing plant have been rescheduled for monday a company spokesman said
shr 38 cts vs 30 cts net 1356754 vs 1048340 assets 4485 mln vs 4074 mln
the treasury accepted 66 billion dlrs including 18 billion dlrs from the fed and 12 billion dlrs from foreign and international authorities
qtrly div 34 cts vs 34 cts pay may 15 record april 24
this left the company to focus its attention on prime site commercial property in hong kongs city centre only it said
the inflationary fears boosted gold bullion by more than 12 dlrs to a 1987 high of 43220 70 dlrs an ounce while the spike in interest rates pulled the dow jones industrial average down by 33 points to 2339
the journal reported that among the bidders for first city was robert carney and robert abboud a former chicago banker
lower us rice stocks strong exports usda
their comments followed remarks by prime minister jacques chiracs spokesman denis baudouin who said on monday ministers were agreed on the desirability of relaunching the economy
the firm said haiti has been flooded with smuggled refined and unrefined sugar from the dominican republic and refined us sugar from miami
a spokesman for the company said that a statement may be issued later today giving details of the transaction
italian treasury bill offer meets mixed demand
wagner declined to give an exact figure for profits from the banks london branch which opened in april 1985 but said that it came close to one mln stg
the figures showed a 03 pct provisional non seasonally adjusted rise in output prices in march unchanged from february and close to the average for the last six months
ultramar sells uk marketing units for 50 mln stg
the december figure was revised from a provisional 48 billion franc surplus reported a month ago
us urges banks to weigh philippine debt plan
eastman kodak acquires 187 pct interest in enzon inc
great western savings bank gwsb quarterly div
the stock exchange noted however that turnover between bond market makers through the inter dealer broker idb screen system as distinct from business with outside clients has only been included from october 1986 meaning that prior data is not strictly comparable with recent figures
the dividend distribution will be made march 30 to holders or record on that date
but it said cenergy has made legal challenges to the request
asamera said the mine produced 116514 ounces of gold in 1986 and is expected to produce 130000 to 140000 ounces this year
they said a record portion of state investment planned for the entire 1987 88 fiscal year will take place in the first half probably over 80 pct
ceradyne inc crdn 4th qtr loss
exchange seen approving when issued gilt trade
the rating agency cited an improvement in profitabiliy of groliers primary publishing businesses
but sumita said he could not say exactly what currency levels would be considered in line with underlying economic fundamentals
clothestime inc ctme 4th qtr net
the national planning department forecast that in 1987 coffee colombias traditional major export will account for only one third of total exports or about 15 billion dlrs
patient technology inc said it retained an investment banking firm to consider alternatives in restructuring its long term debt including a possible exchange offer for 20 mln dlrs of outstanding convertible debentures
a majority of americans disapprove of the way ronald reagan has handled the presidency and one third believe he should resign a new poll said
jaguar builds half of its cars and buys components for the other half
the united states is the principal donor nation and has pressed the bank controlled by the latin american borrowing nations to cede virtual veto power over loans to washington
a free trade pact between the united states and canada could spur the economies of both sides substantially according to a study released by the institute for international economics
ball corp bll completes acquisition of verac
sugar prices are forecast to rise to 340 dlrs a tonne next season from an estimated 270 dlrs this year they said
1986 year net excludes gain 1910000 dlrs from sale of discontinued operations
in addition it said that the loss of corporate leadership had adversely affected some of the bay areas civic and charitable activities
the provision on eep wheat to the soviet union offered by rep
shr 11 cts vs 13 cts net 1965577 vs 2474357 revs 383 mln vs 347 mln 1st half shr 61 cts vs 22 cts net 113 mln vs 4132129 revs 844 mln vs 662 mln
he estimated income would rise to more than 25 mln dlrs in 1986 87
shr profit 02 cts vs loss 22 cts net profit 2900 vs loss 43500 sales 1660000 vs 950000 year shr loss 30 cts vs loss 37 cts net loss 578900 vs 713300 sales 5112100 vs 3659600
periods ended january 31 net 1443000 vs 3539000 revs 7652 mln vs 6858 mln
the st lawrence seaway said the first ship of the season passed through the st lambert lock here this morning officially opening the 2300 mile long waterways 1987 shipping season
this includes provision in latest quarter of 122 mln dlrs for closing of almys department store co
american cyanamid acy changes record date
but here too they were stymied
cps and cds are currently slightly cheaper than traditional credit lines for promotional reasons amro board member dick meys told journalists at the signing ceremony
ptt must first sort out its problems with texas pacific
rubbermaid inc rbd 1st qtr net
michaels stores inc said march sales were up 192 pct to 7823000 dlrs from 6564000 dlrs a year earlier with same store sales up 27 pct
noting it has has asked for a rehearing on the denial ruling columbia gas said it would withdraw its alternative filing if the commission grantes its request for a rehearing to include the contract renegotiation costs in its pga or consolidates this issue in the pipelines general rate filing and permit recovery subject to refund effective april one
analysts said the bankruptcy filing effectively froze all texacos obligations while it continued to appeal the merits of the pennzoil lawsuit
oil industry sources said yesterday several gulf arab producers had had difficulty selling oil at official opec prices but kuwait has said there are no plans for an emergency meeting of the 13 member organisation
the us is drafting options including possible trade retaliation against argentina in a dispute over the differential between soybean and product taxes which buenos aires levies on exports
ccr video corp cccr 1st qtr nov 30 net
jostens corp said it agreed to sell its proprietary school business to careercom corp for 20 mln dlrs in cash and about 17 mln careercom common shares
but the yen should go up 10 or 15 pct in value ortner said because it is undervalued against the dollar
french industry is failing to produce the goods its markets need and its loss of competitiveness has left the government little room for manoeuvre to reflate the economy the organisation for economic cooperation and development said
a further appreciation of the mark could even be an obstacle to further growth he said
neither computerland which is 96 pct owned by its founder william h
on that day the dollar fell as low as 15040 yen
under terms of the agreement the companies said each share of high plains common stock not owned by adobe or held in the high plains treasury will be exchanged for 112 shares of newly issued adobe common
rbi said exporters of products not covered by either of the two groups will be eligible to use up to five pct of their freight on board value of their annual export earnings
the revised unadjusted index was up 10 pct from a year earlier after a 14 pct year on year december rise
the present government which came to power in 1949 has never acknowledged the debt
it had opened in tokyo at 14580 yen
the 15 year bond will mature on may 31 2002 the 10 year on may 30 1997 and the six year on may 31 1993
rospatch corp said it will have a news release later in response to todays acquisition bid by diagnostic retrieval systems inc for 22 dlrs a share
caesars owns casino hotels in nevada and honeymoon resorts in pennsylvanias pocono mountains
this would be relatively favorable for the prices of high oil yielding seeds balletto said
the credibility of government efforts to stabilise fluctuating commodity prices will again be put to the test over the next two weeks as countries try to agree on how a buffer stock should operate in the cocoa market government delegates and trade experts said
the bank said it expects the distribution will be made in early may subject to various approvals
finance minister edouard balladur industry minister alain madelin and telecommunications minister gerard longuet met for more than an hour today to discuss the imminent sale of the french telephone switching group cie generale de constructions telephoniques a spokesman for longuet said
houston said inspection programs have kept pace with change but conceded that the danger of chemical residues in the meat and poultry supply has increased
renison gc and city resources set png gold venture
mobil corp files for offer of one billion dlrs of debt securities
management fee is 10 basis points
stanline inc stan 1st qtr jan 31 net
this is when the european parliament is due to deliver its opinion on price proposals from the ec commission
the philippines and its bank advisory committee completed another round of debt rescheduling talks and will meet again on saturday a senior banker said
lewis davies said the measure might also aid the offshore construction industry which suffered a huge amount of lay offs under the price slump of more than 50 pct last year
the securities which are guaranteed by parent company asea capital will be listed on the luxembourg stock exchange
balladur maintains 1987 french inflation target
schlumberger ltd most likely has an alternate buyer lined up for its fairchild semiconductor unit wall street analysts said
rio de janeiros 3500 dockworkers went on strike for an indefinite period today to demand wage increases a spokesman for the dockers said
media general mega family wont sell shares
they said it is focusing instead on a borrowings target of around 300 mln dlrs
oper shr 22 cts vs 20 cts oper net 1153000 vs 1068000 revs 157 mln vs 158 mln six mths oper shr 38 cts vs 38 cts oper net 2039000 vs 2051000 revs 314 mln vs 316 mln note exlcudes 145000 discontinued operations for 1986 oper net for six mths for sale of electronics division
tertiary industries provide services to manufacturers and a downturn in manufacturing profits will adversely affect service industries he said
cuba suffers from run down plantations harvesting problems and poor processing facilities more than from low world prices since much of its output is sold to eastern bloc countries under special deals
the missouri based energy service company union electric co is seeking a 150 mln dlr four year euro term loan facility swiss bank corporation international ltd said as arranger
but ge injected sizeable equity into the unit at timely intervals s and p noted
company officials said although reserves were being depleted zambia could continue to produce copper beyond the end of the century though at lower levels of production
odgers said mercury was seeking to make inroads into some of british telecoms most profitable areas
but kleinworts latest world oil report said re stocking and lower non opec output earlier this year should allow the group to produce up to 17 mln bpd in the current third quarter
mondanto co said it has paid off two thirds of the debt from its 28 billion dlr acquisition of gd searle and co by the end of 1986
many recent innovations were either unfair to investors or unfair to borrowers
its too bad because the tax benefits fell on the floor
ivory coast has been chosen by the abidjan based inter african coffee organisation iaco to speak on behalf of the continents 25 producer nations at the london talks
he told the china daily that petroleum coal cotton non ferrous metals and electric engines could help balance the trade running at over three to one in swedens favour
most malaysian and singapore traders said the new pacts conclusion had little impact on prices and it was unlikely to allow sharp price fluctuations in future
the fund which customarily omits dividends in march and september last paid six cts in february
sallie mae slm offers fixed rate notes
long grain rice in mln cwts 100 lbs 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 harvested acres mln 183 183 194 194 yield lbs 5358 5358 5168 5168 start stks 493 493 377 377 production 978 978 1004 1004 ttl supply 1486 1486 1401 1401 note starting stocks does not include broken kernels supply minus use does not equal ending stocks in breakdowns
some companies would be sold in their entirety and others would be privatised only partially according to jose palomino president of the governments state company holding firm the national development council conade he told reporters in a radio interview that the aim was to slim a projected public sector firm deficit of 11 billion intis
union carbide files to offer 500 mln dlrs of debt
spartech corp said shareholders at the annual meeting approved a reverse stock split of the common stock on a one for five basis
champion will use the proceeds to pay down long term debt it said
mediq inc said its mediq diagnostic imaging partners i lp has signed a letter of intent to acquire substantially all the assets of american medical international incs ami diagnostic services inc subsidiary for undisclosed terms
sao paulo state presidente prudente nil votuporanga nil franca nil catanduva nil sao carlos nil sao simao nil
bhp which confined comment to the third quarter said petroleum net earnings dropped to 988 mln dlrs from 1396 mln a year earlier and steel profit to 270 mln from 488 mln
the coupon has been set at 5 1 4 pct
the combination of higher debt levels and ongoing stock repurchases about 12 mln shares in the past two years financed mainly with debt bring debt leverage to 48 pct as of december 31 1986 from 30 pct the year earlier
shr 15 cts vs 15 cts prior qtr pay may 18 record april 27
the january index compared with a year earlier was down 11 pct the first drop larger than 10 pct since it fell 13 pct in september 1958
the third project which is being supported by a bank loan of 53 mln dlrs and an international development association loan of 16 mln dlrs hopes to increase water supply to madras
lilco said the downward revision in its 1986 earnings is a reserve established to reflect a settlement agreement with the staff of new york states public service commission respecting the utilitys spending on a nuclear power station planned for but never built at jamestown ny the company declined to detail the settlement explaining the settlement has not been approved by the commission
loans and advances from the dutch central bank to the commercial banks were barely changed at 129 billion guilders in the week up to and including march 2 the central bank weekly return showed
french payments surplus shrinks in january
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
the deposit is 400 to 500 yards from the newly designed sunbeam pits has large tonnage and will be drilled off this summer the company said
analysts noted a large capital outflow from the netherlands recently as foreign investments in dutch stock are being sold to take profits
finland orders mcdonnell douglas md 11s
the initial offering price is expected to be 15 to 18 dlrs a share and proceeds will be used for debt reduction it said
tennecos gas deliverability for example dropped by 20 pct during 1986 he said
soviet leader mikhail gorbachev and foreign minister eduard shevardnadze abruptly left a parliamentary session earlier on monday sparking diplomatic speculation that they were concerned with an urgent matter of foreign affairs
unilever plc una and nv group reported improvements in margins and underlying sales volume growth of five pct in 1986 after stripping out the effects of falling prices disposals and currency movements unilever plc chairman michael angus said
the company said it will continue to pursue actively the proposed note issue and will seek alternative financing in place of the note issue
peoples telephone co the third largest private pay phone firm in the us said it signed an exclusive five year 25 mln dlr contract with the southland corp
senior ec financial expert in tokyo tomas de hora has watched the movements closely
as announced february 26 the staff builders shareholders meeting to vote on the merger originally convened and adjourned december 23 will be reconvened on april 22
this compares with the opening of 40900 50 and new yorks close of 41000 50
in addition although the market shrugged off relatively healthy gains in february us leading economic indicators and factory orders tuesday economic data could play a larger role in coming sessions the analysts said
shr loss 150 dlrs vs loss 14 cts net loss 3395933 vs loss 318225 revs 8963097 vs 126 mln year shr loss 293 dlrs vs profit two cts net loss 6613327 vs profit 49421 revs 444 mln vs 487 mln note current periods include 22 mln dlr charge for possible obsolete inventory and provision of 356000 dlrs for consolidation of cable manufacturing plant
dealers noted that strong demand had been detected for the bonds yesterday afternoon and interest was further stimulated by sterlings surge at the opening this morning
caisse centrale desjardins du quebec is issuing a 10 billion yen step up eurobond maturing on march 25 1992 and priced at 101 3 4 pct joint bookrunner warburg securities said
national gypsum debt upgraded by moodys
united cable television corp uct 3rd qtr net
despite rising petroleum prices and falling coffee prices kenyas economy is still expected to improve in 1987 the planning minister said
shippers can choose their best period of 12 consecutive months between april 1 1985 and september 30 1987 to be used for calculating the export performace portion
we expect already in 1987 approximately to break even
under the decree if baker is unable to find acceptable buyers within a specified period of time after the decree is approved a federal trustee would become responsible for finding a buyer
shr profit 12 cts vs loss 49 cts net profit 117000 vs loss 506000 revs 11 mln vs 12 mln year shr profit seven cts vs loss 89 cts net profit 66000 vs loss 921000 revs 44 mln vs 39 mln note1986 reflects tax benefit of 24000
its lawsuit also alleges that harcourt failed to disclose the effect of the special dividend on harcourt 6 3 8 pct convertible debentures
major japanese banks have been considering a plan to avoid a debt crisis since the start of the year they said
the poorest countries have called for a monetary conference to work out a new system that not surprisingly helps them cope with their overpowering debt problems
but year on year growth is expected to be about two pct
that will be a company expense redstone said
there is a mandatory purchase fund operating in years one and two except for the first month after the payment date whereby the eib can purchase up to five pct of the issue each year if it is trading below par
the policy change was announced two days before the scheduled arrival of us commerce secretary malcolm baldrige for talks with trade minister rha woong bae
fhlbb changes short term discount note rates
london stock market analysts specializing in brewery shares viewed a bid from bond which they said has assets of around two billion stg as highly unlikely
the current account deficit shows signs of easing slightly and could narrow to 12 billion dlrs by the end of 1988
yesterday fed funds averaged 599 pct
fpl group fpl nuclear reactor shut down
the association said time would show to what extent speculative foreign money and short term invested domestic money would distort money supply developments
1986 amounts restated increasing net by four cts a share for change in pension expense accounting
they argue that the pound is being perceived as a safer bet than the dollar given the latters recent sharp falls and current political upheavals in washington
inflationary pressure increased during the quarter and investment plans for the next year were scaled down which the survey said could limit activity in the medium to short term
sales in europe also rose but us sales fell further he said without giving details
the number of people actually receiving benefits under regular state programs totaled 2480000 in the week ended march 14 the latest period for which that figure was available
paradise fruit co inc parf year net
among industrials s and p cut 43 ratings and raised 10
shr 78 cts vs 116 dlrs net 67 mln vs 95 mln revs 278 mln vs 290 mln
the company said the split is subject to shareholder approval at the april 15 annual meeting of an increase in authorized common shares to 10 mln from five mln
at the same time many of the conditions for faster growth remain favorable it said citing low inflation in most major countries healthy corporate finances generally lower interest rates improvements in state budget positions and more flexible labor markets
nelson holdings international ltds nelson entertainment inc unit said it has entered an agreement to co finance ten motion pictures with hemdale releasing corp
the total includes 35 billion francs worth of 13 week bills and 35 billion francs of 26 week bills
it estimated between 500 mln and two billion dlrs of the eight billion in new farm real estate loans issued each year would qualify for the secondary market in the first few years expanding significantly later as investors accept the idea
cornglutenfeed usage fell 178 pct to 729000 tonnes from 887000 but cornfeedmeal usage nearly doubled to 399000 tonnes from 201000
the first step after deciding the most effective way to proceed would be to get architectural and engineering drawings he said
when asked how much was left of the oil platform weinberger said nothing there was no iranian reaction he said
the bank said non accrual loans net of provisions for loan losses totalled 22 billion dlrs on january 31 up from 20 billion dlrs a year ago
some dealers said the usda may further adjust the posted county price at the gulf to take into account high barge freight rates as a way to keep corn sales flowing but added the current plan probably will be given a few weeks to see if it will work as hoped
shr primary 87 cts vs 83 cts shr diluted 85 cts vs 74 cts net 359 mln vs 306 mln avg shrs 410 mln vs 342 mln assets 1395 billion vs 1234 billion deposits 1021 billion vs 924 billion loans 922 billion vs 789 billion return on assets 107 pct vs 105 pct note net includes securities gains of seven cts a shr vs two cts
interest on the credits will be paid at market rates
the eight major new york city banks had daily average borrowings of 169 mln dlrs from the federal reserve in the week ended april 8 a fed spokesman said
economists estimated that 30000 of the gain was accounted for by striking workers in the steel and machinery industries returning to work
the food including 30000 tonnes of cereals 6000 tonnes of sugar 4000 tonnes of beef and 13300 tonnes of butter has been distributed to the needy through charities
the committees consideration of one of the most controversial provisions a plan to force major trade surplus countries to cut their trade imbalance with the united states was deferred until the full house considers the trade bill its sponsor rep
he said in a statement the agreement culminates the reagan administrations effot to negotiate a virtual end to export credit subsidies
colombia had been invited but he did not know if it would attend
the bitter winter cold temperatures which broke record lows that had stood for four decades also may have taken its toll on soviet winter crops she said
the commerce department noted that loss of manufacturing jobs in march was concentrated in automobile electrical and electronic manufacturing
general partners is terminating offer for gencorp inc
about 1454 mln hectares of wheat were affected in 1986
german banking authorities are weighing rules for banks off balance sheet activities in an attempt to cope with the growing volume of sophisticated capital market instruments banking sources said
the organization also urged lyng to authorize deficiency payments to farmers who were unable to plant 1987 winter wheat because of adverse weather
were looking at 10 to 15 pct earnings growth for frito lay in 1987 a trend that should continue through the decade
american health properties inc ahe 1st qtr
western savings and loan wsl 4th qtr loss
economists and bankers said the new decision resulted from growing pressure from the united states taiwans largest trading partner which buys almost half the islands exports
however the dean witter economist noted that the latest two week period included a quarter end when seasonal demand often pushes up borrrowings
they said he showed skill in reducing ozark airlines costs when he merged it into twa last year and he might be a necessary ingredient for a merger to work
the move came after carlings 50 pct owner rothmans inc agreed last week to sell its carling stake to elders ixl ltd of australia for 1962 mln canadian dlrs
sosnoff ends deal with pratt southmark on possible venture for caesars bid
todays registrations comprised 1076226 bags to members and 326259 to non members of the international coffee organisation
s and p affirmed the companys a rated first mortgage bonds and a minus unsecured industrial revenue bonds
we are subsidising the production of mineral coal and steel to an enormous extent and at the same time putting a huge burden on all other branches of industry and making them uncompetitive he said
stone said april 10 is the redemption date for the convertible debentures and april 27 is the redemption date for the series c preferred
megaphone international inc infl 4th qtr loss
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
he said the highest priority should be given to policy changes in the united states especially reducing the budget deficit and encouraging domestic savings
british chancellor of the exchequer nigel lawson told journalists that one of the technical issues raised by greater coordination of exchange market intervention was the question of which currencies should be used to intervene and held in central bank reserves
the agreement simply helped it on its way
non opec production will begin to decline and the gap between demand and supply will widen so that the trend to increasing dependence on opec and the middle east is inevitable mcivor said
spot market prices slipped some two dlrs in february but have firmed in the past two weeks to near opec levels as traders gained confidence in opec price and output discipline
on the value of the dollar volcker said he could not say whether it should be higher or lower to restore balance in trade
woods also said the ec was joined by the united states in criticising brazil for extending its list of products for which import licenses have been temporarily suspended so as to improve its balance of payments
the bank of france is to inject liquidity against first category paper at a tender this afternoon a bank spokesman said
us treasury secretary james baker said that he opposes a federal tax increase to help reduce the budget deficit and favors spending cuts instead
the shares later eased to 34450
intek diversified corp idcc 4th qtr net
we have determined to dismiss twas application for approval of the acquisition of usair it said in an order issued late friday
bond corp holdings ltd bonas said it has completed the 105 billion dlr purchase of the electronic media interests of unlisted consolidated press holdings ltd the new company bond media ltd now holds the television broadcasting and associated businesses previously held by kerry packers consolidated bond corp said in a statement
cocoa consumption is basically flat and last year it fell so i dont think they can start throwing out cocoa and find many more markets for it one analyst said
the company agreed to sell its interest for 7250000 dlrs subject to downward adjustment for certain title and state requirements
year on year the input price index was down 07 pct in march after a 28 pct drop in february
fujitsu ltd also has a licensing agreement to make amdahl corp amh computers for sale in the us
speaking to the conservative heritage foundation heller said a broadly based commodity price index may be worth exploring as a guide to monetary policy
pacific western said the two airlines services and schedules would also be integrated on april 26
northern trust corp said its first quarter earnings were reduced by 875000 dlrs by placing 532 mln dlrs of loans to brazil and six mln dlrs in loans to ecuador on a cash basis
magic years kidso to acquire three centers
the later downtrend followed confirmation of a us navy attack on an iranian oil platform by the us defence secretary caspar weinburger
sales 1125 billion crowns vs 1022 billion
chuan hup said the issue has been arranged and managed by singapore international merchant bankers ltd simbl simbl has invited commonwealth bank of australia national australia merchant bank singapore ltd bank of china the bank of comunications co ltd dg bank gzb asia ltd kleinwort benson singapore ltd malayan banking bhd and nm rothschild and sons singapore ltd to subscribe at a price of 100 pct
the market was showing limited signs of recovery from the collapse in trading last night and the calmer tone was reinforced this morning as the first significant retail orders for some time emerged one senior frn trader noted
in 1984 japan decided to increase its beef import quota by 9000 tonnes a year until march 31 1988
the only thing that will stop the dollar falling is a substantial increase in the discount rate and a corresponding cut abroad at least by japan said lanstons jones
chock full onuts chf offers debentures
rain over wide areas has raised the prospect of good food crops throughout ethiopia which suffered a disastrous drought and famine two years ago
union officials said industrial action could spread to other states as the federal government also plans to make sharp cuts in workers compensation
consumer countries should not intervene in the distribution of coffee export quotas brazilian coffee institute president jorio dauster said
the countries of latin america have too much debt relative to their ability to service it said john mason of interstate securities
we do plan to cover the costs by selling philippine investment notes pins worth about 150 mln dlrs a year pins are negotiable foreign currency denominated instruments that will be offered to creditor banks and are designed for conversion into pesos to fund government approved equity investments within the philippines
ccc sells farmers stock peanuts offers more
while cash in circulation deposits with statutory withdrawal notice and sight deposits grew sharply short term time deposits fell after expanding unusually strongly in january
the airport is due to open in october and is only a 20 minute taxi ride from the capitals financial district the city compared to an hour to get from the city to the nearest existing airport heathrow
the phlx is also opening an office in hong kong to serve clients in the region and educate financial markets about the advantages of currency options giordano said
warburg pincus declines to up symbion symb bid
banking sources said the rescheduling is part of iraqs continuing effort to defer payments of foreign debt as its economy comes under strain from the gulf war and soft world oil prices
the group said it is ending its tender offer for gencorp and promptly return to tendering shareholders all shares tendered pursuant to its offer
joe gold said if the necessary operating permits were granted in time it would start gold production in the second half of the year ending october 31 1988 at an annual rate of about 40000 troy ounces
philippines says debt pact better than mexicos 
the hamburg fishmeal market saw little movement in the past week with demand slack as in other protein feed sectors trade sources said
the gazetted price effective march 1 rose to 213 1 2 cents per kilo from februarys 207
but diplomats said the latest announcement shows the authorities were forced to act quickly to keep this years deficit under control
shr 50 cts vs 35 cts net 427 mln vs 299 mln revs 2365 mln vs 2182 mln nine mths shr 124 dlrs vs 102 dlrs net 1058 mln vs 869 mln revs 7025 mln vs 6425 mln note 1987 nine month earnings include nonrecurring gain of nine cents a share from sale of the companys data card investment
this would cost the government a maximum of two billion dlrs
enis subsidiary ecofuel will join pequiven the petrochemical subsidiary of pdvsa in building a 160 mln dlr plant to produce mtbe a gasoline additive used to increase octane levels
it was not immediately clear when the sale was made or at what price
turning to the international debt problem herrhausen said brazils unilateral debt moratorium had surprised banks
u s west usw 3rd qtr net
philippine inflation predicted to rise
periods ended february 28 shr 89 cts vs 87 cts net 1195 mln vs 1146 mln revs 8723 mln vs 9174 mln avg shrs 1349 mln vs 1317 mln 12 mths shr 287 dlrs vs 332 dlrs net 3834 mln vs 4135 mln revs 45 billion vs 44 billion avg shrs 1337 mln vs 1247 mln notes year ago results restated to reflect application of new accounting for disallowances full name is public service enterprise group inc
consumers say when this cocoa is the cheapest the buffer stock should buy it rather than compete with chocolate manufacturers for premium priced high quality cocoas
canadian foremost continues macedon sale talks
out of this traders in the uk received 43500 tonnes in the netherlands 12000 in denmark 4000 and in west germany 1000 tonnes
i am concerned that we have gotten so nervous about exchange rates seger said
total foreign debt is 23 billion dlrs
bills maturing in official hands and the treasury bill take up would drain 957 mln stg wile exchequer transactions and a note circulation rise would take out 15 mln and 25 mln respectively
there is a slightly better than even chance that the federal reserve will enter the us government securities market to add temporary reserves economists said
the construction allows inspectorate to borrow at lower cost than a comparable convertible bond and will give the inspectorate equity through issues of participation certificates in west germany a swiss bank corp spokesman said
excessive rains in the piura pima cotton area may reduce yields by about 20 pct due to excessive growth too early in the crop cycle
the board has proposed a total of 200 mln authorized common shares and 60 mln authorized class b shares
a year earlier outstanding loans amounted to 170 bilion dlrs and inventories 80 billion dlrs it said
eia says distillate gas stocks off in week
the cash fund will enable equity silver to continue to pay dividends on its preferred shares and increase the likelihood that it may be able to pay dividends on its common shares the company said
alcan australia lifts aluminium ingot price
it primarily assesses indonesias agricultural sector but also reviews the countrys general economic performance
the ministry is standing athwart the regulatory control of a key industrial sector telecommunications and information said one diplomatic source
in addition to the 50 year credit the indian government and participating states will provide 43 mln dlrs to the plan
because the fiscal deficit has been reduced to some four pct of gross domestic product money supply could be increased to pay for the drug eradication drive without too much of n impact on inflation he added
first in countries with large balance of payments surpluses such as japan and west germany it threatened to hamper economic growth and thus slow down the expansion of real income and domestic expenditure necessary to wipe out surpluses
the three locals represent about 2600 production and maintenance workers while the remaining two locals cover about 600 office and technical workers
cras share of earnings from the argyle diamond project amounted to 120 mln dlrs against nine mln in 1985
azpurua said financing had also been obtained for the expansion of alcasa another state aluminum company as well as for projects in the state steel and petrochemical industries
the group said action by japan to cut back on semiconductor exports is not what is required
emery said if it were to acquire 51 pct of purolator shares or control of the purolator board it has agreed not to dispute pc acquisitions right to receive fees that purolator agreed to pay if pc were unsuccessful in acquiring control of purolator due to the acquisition of control by another party
yesterday shearson lehman a subsidiary of american express co axp disclosed in a securities and exchange commission filing that it holds a 535 pct interest in chicago milwaukee
he said that the extension of the short term lines would not be carried out through an official instrument as there was not time to complete the legal requirements
and that includes gains from the sale of mhis stake in mitsubishi motors corp mimtt for 49 billion yen
bids were fully met for the first 200 mln guilders and for 40 pct above
major lenders counter that small banks must share the responsibility of making new loans and cannot expect to keep receiving interest on old debt unless they join in new ones
an exchange loss of 76 billion ringgit in 1986 pushed malaysias outstanding external debt up to 5099 billion ringgit from 1985s 423 billion the central bank said in its annual report
talks to restore quotas collapsed early last month when producers and consumers failed to resolve differences on how quotas should be allocated
the promotion policy is geared to make sure that both foreign investment and local private capital come more into play as far as manufacturing capacity is concerned tigrel said
sales of 8 mm vtrs had already exceeded beta format vtrs sales since the beginning of fiscal 1986 hashimoto said
iran said it had achieved important victories against iraq on the southern war fronts last night
last week the central bank said that from today it would reduce its purchase of forward us dollars from banks to 40 pct from 90 pct of the value of the contract
canadian tire major holders not extending pact
royal ordnance made pre tax profits of 26 mln stg on sales of 487 mln stg in calendar 1985 its first full year of commercial operation
qtly div 25 cts vs 25 cts prior qtr pay 31 may record 1 may
emcor completes sale of stock to investors
this situation will be difficult to duplicate in 1987 and beyond because no significant new investments are being made the report said
in reporting lower first quarter earnings chairman allan taylor said problems with credit quality particularly in loans associated with the energy sector continue to have a substantial adverse effect on the banks earnings
the bank of japan intervened to stem strong yen rises against the dollar during london trading this morning dealers said
frenzel said the goal of trade legislation was to make our trade policy stronger without violating our international trade agreements
standard oil srd committee tried to delay bid
cooper says offer must include class a shares
in the year ago quarter revenues fell less than one pct to 3188 mln dlrs
usair group inc said piedmont aviation inc has agreed to be acquired for 69 dlrs per share
the api said us operations have the capacity to refine 156 mln bpd of crude
standard bank investment corp ltd sprjj chairman henri de villiers said he could not predict profits for the bank this year because of south africas continuing political unrest
gdp is the total value of goods and services produced by an economy but omits income from abroad
such diversification would give access to national and international financial services to corporations across the united states
the usda started the pik certificate program in an effort to free up surplus grain that otherwise would be forfeited to the government and remain off the market and in storage
on february 22 italy boycotted a meeting in paris of its g 7 partners the united states japan west germany france britain and canada after being excluded from an earlier session of talks involving g 5 members
we do not consider we are at fault melnikov said
the yens rise to record highs and the us threat on friday to impose tariffs on japanese electronics goods in retaliation for japans alleged violation of a microchip trade pact are now giving nakasones critics fresh ammunition the analysts said
no taiwan sugar exports expected this year
china to borrow 390 mln dlrs
marcade group mar plans acquisition
the us department of transportation dot said it gave final clearance to the proposed 225 mln dlr acquisition of aircal inc by american airlines inc
pakistan confirms kenya tea import investigation
the guessing game over the timing of a cut has the clearing banks divided as well as the markets
leucadia luk has 72 pct of minstar mnst 
winland electronics inc 4th qtr loss
all shipments are c and f taiwan
our contacts with the ec authorities over the past few days indicate that we are moving towards a solution he said adding that if this happened the producers would withdraw the 854000 tonnes of sugar they have offered into intervention
ivory coast confirms presence at cocoa talks
ccc accepts export bonus on semolina to egypt
the bond is due april 24 1990 and is guaranteed by credit lyonnais
it had asked state governments to build more warehouses to avoid damage to grains
the san jose winery is expected to be sold it added
revising the definition of sample grade by adding a limit of 10 live or dead insects per sample
china forecasts 397 mln tonnes grain harvest
however icy conditions in the southern baltic at the soviet oil ports of ventspils and klaipeda had eased they said
the margin for eurodollar advances is 20 basis points over london interbank offered rates libor and there is a utilisation fee of five basis points per annum if utilisation exceeds 50 pct
guardian morton said the takeover bid will be conditional on sarlos acquiring at least 90 pct of the special shares and 90 pct of the series ii warrants when combined the number of special shares and warrants owned by the offeror at the time of the bid
this would help agriculture because some its inefficient non productive segments would stop operating he said
the french statement described the target as an iranian military platform but the french statement added that everything must be done now to avoid that these military developments lead to a new escalation of the conflict
that is not a constructive way to proceed he said
one cannot pity the banks they bear a lot of responsibility due to the encouragement they gave to these countries to take on debts
it has increased 83 pct since march last year
rabbit software corp said it has agreed in principle to acquire privately held communications hardware maker micro plus ii corp for about two mln common shares with closing expected by may
feldstein one of four members of a task force on third world debt said that brazils request would mean an additional credit of three billion to four billion dlrs from banks and international agencies
the peso proceeds can be invested in selected industries under the philippines debt equity program
the trade surplus rose to 814 billion dlrs in february from 477 billion a year earlier and 570 billion in january
the bill approved by voice vote would establish trade missions made up of representatives of the departments of agriculture and state the agency for international development the overseas private investment corp market development cooperatives and private voluntary organizations
the west german finance ministry declined to comment on weekend criticism by us treasury secretary james baker of recent west german interest rate increases
the rains did no damage to maize sunflower and sorghum crops though fresh rains in similar volume could reduce yields and cut the total volume of this years harvest
the exchange rate has been set at 9978 yen to the franc
twa said the merger is subject to the usair board redeeming the preferred stock purchase rights the poison pill issued to shareholders last year and taking action so that the vote of a majority of the outstanding common stock is required to approve its proposed move
he said the outlook for pay increases was gloomy because of falling employment in many industries particularly those hit hard by the yens rise
the cause for the rise was a rather tight 48 billion guilders of special advances set by the bank yesterday compared with 80 billion guilders for the previous set dealers added
byrd and house speaker jim wright a texas democrat have made trade legislation a priority this year and a wide ranging bill is being readied for probable house approval next month
giant bay gbylf in idaho gold venture
fed sets two billion dlr customer repurchase fed says
it quoted a letter by companys chief executive charles hiltzheimer that said the ships and assets will be bought by rival us shipping companies subject to approval by their boards
publisher robert maxwells british printing and communicaton corp plc said it filed a lawsuit in us district court against harcourt brace jovanovich inc its directors and advisers to stop among other things payment of the special dividend harcourt is paying as part of its recapitalization
other smaller components included in the total all showed increases
intel intc unit sells notes at 818 pct
becor bcw to adjourn delayed holders meeting
officials of the two companies were not available for comment and the num said it was trying to start negotiations with management
finally he pointed out that auto production accounted for half of the industrial production gain as production of auto assemblies rose to 83 million units at an annual rate from 75 million units
analysts generally average the sales results of march and april to account for the variation of easters occurance
vessel lost in pacific was carrying lead
coconut farmers were being encouraged to intercrop by planting other cash crops between coconut trees he said
civil service strike delays uk trade figures
quantech said its remaining directors are henry ginsberg and david siegel
leading cocoa producers discuss international pact
afl cio president lane kirkland this year angered the administration when he said any trade bill reagan would sign would not be worth passage in congress
shr 81p loss vs 263p earnings div 325p making 525p vs 105p net loss 621 mln stg vs 716 mln profit operating profit before tax 736 mln vs 2738 mln turnover 147 billion vs 174 billion cost of sales 122 billion vs 139 billion gross profit 2418 mln vs 3576 mln distribution costs and administrative expenses 1522 mln vs 1231 mln share of profits in associates 171 mln vs 682 mln other operating income 158 mln vs 169 mln financing charges 489 mln vs 458 mln tax 639 mln vs 1697 mln exceptional items 49 mln debit vs 55 mln debit net results of discontinued operations 156 mln debit vs 209 mln debit loss on ordinary activities before minority interest 108 mln vs 777 mln profit minority interest 113 mln vs 61 mln extraordinary debits 400 mln vs nil
simex also became more competitive after this months budget eliminated withholding tax on interest earned on futures margin deposits
in an effort to trim its new debt goodyear closed down three plants mercer believes otherwise could have been saved sold its motor wheel and aerospace units and reduced its payroll by 10 pct he said
the last issue of three month paper conducted on february 12 yielded 2969 pct
researchers at the federal centers for disease control tracked the spread of an unusual strain of salmonella that is resistant to the drug chloramphenicol and were able to link the resulting food poisoning to farms that used the drug to promote the growth of cattle
at the end of february lilly had 1396 mln shares outstanding
equine is a new mexico quarter horse breeding and racing company
minnesota governor rudy perpich is considering calling a special legislative session to consider amendments to the states anti takeover statute according to the governors office
mining employment was little changed in march and has not experienced any substantial erosion since the rapid job losses in oil and gas drilling in the first two thirds of 1986
in 1986 it had net profits of 1652 mln dlrs or 60 cts a share up from 1505 mln dlrs or 53 cts a share
economic analysts said the strike was of major concern to the government which has suspended interest payments on part of brazils foreign debt following a drastic deterioration in the countrys trade balance
costs including depreciation 508 billion guilders vs 559 billion
stanline inc stan regular dividend
the non callable deal of unsecured unsubordinated debt is in denominations of 1000 and 10000 ecus and will be listed in luxembourg
however given the significant current interest in the company we also feel that we should carefully review all the options available
wolverine world wide inc said it signed a letter of intent to sell to an investment group two subsidiaries kaepa inc an athletic footwear maker and its international marketing arm kara international inc
shr 21 cts vs 18 cts net 2256000 vs 1915000 revs 382 mln vs 353 mln nine mths shr 62 cts vs 56 cts net 6474000 vs 5808000 revs 1259 mln vs 1123 mln backlog nine mln vs six mln note share adjusted for five for four stock split in june 1986
lallier did not say how much would be offered although he has noted that edf would be cautious because it believes the market is still in its infancy
cojuangco said the shares were held in trust by ucpb and represented a blue chip investment
corrects dollar figure of notes placed in item appearing feb 25
it said under the agreement it will pay the state 2100000 dlrs in civil penalties over a two year period and pay 500000 dlrs over five years to local medical facilities as part of a community awareness and emergency response program developed by local communities
he estimates block has about 150 mln dlrs cash on its balance sheet sheet and says if interest rates rise it could be of great benefit to them
a group spokesman would not disclose the total purchase price of its current holdings
the company now has 11928871 shares outstanding
the company said mainly this represented the premium the group had paid for the know how of various high tech firms it had taken over
theres a lot of reluctance by the other banks
dart group drops dayton hudson dh takeover bid
a requirement that baker disclose his intervention policy could reduce the usefulness of intervention as a tool to deal with exchange rate volatility volcker added
durable goods inventories rose 14 pct to 36613 billion in january dlrs while nondurables inventories were up 02 pct from december levels to 22607 billion dlrs
the canadian us pact signed by two sides two weeks ago has yet been approved by the us congress and canadian parliament
mellon bank says it will cut dividend to 35 cts a shr from 69 cts
the company also said its independent accounts peat marwick mitchell and co served notice that its report on endotronics financial statements as of sept 30 1986 and for the year then ended should no longer be relied upon
production in 1985 86 is estimated at 2495 mln tonnes vs 2495 mln last month
shr loss two cts vs loss 41 cts net profit 4134000 vs loss 3682000 revs 228 mln vs 235 mln nine mths shr profit 44 cts vs loss 199 dlrs net profit 256 mln vs loss 268 mln revs 734 mln vs 867 mln note 1987 qtr and nine mths includes gain 1374000 dlrs or five cts per share and 102 mln dlrs or 41 cts per share respectively from net operating loss carryforward
canadian bonds closed slightly lower on market jitters amplified by rumors that a big holder of domestic bonds was selling early in the day dealers said
asked why some features of the debt agreement such as the token prepayments of principal were not made public immediately he said these are very long documents and in a press statement you can only cover the key points
semicon tools inc making acquisition
the nature of the business is that incremental traffic is incremental revenue hine said
the letter of intent signed by chrysler and renault on march nine set april nine as the target date for completing negotiations
us export inspections in thous bushels soybeans 17683 wheat 20717 corn 36581
senior ec financial expert in tokyo tomas de hora has watched the movements closely
were selling and buying real estate in our real estate division and woolworth was interested in some of our properties
time said after the redemption date interest on the notes will cease to accrue and any coupons attached to the notes maturing subsequent to the redemption date will be void
the rating agency said it completed a review based on 1986 results of the largest us bank holding companies
craftmatic contour industries inc said it would report substantial profits for the first quarter of fiscal 1987 ending march 31
the ceylon workers congress cwc said its 400000 members launched a prayer campaign at temples and other places in a non violent protest to get the authorities to expedite citizenship procedures
shr profit 17 cts vs loss two cts net profit 520000 vs loss 51000 sales 111 mln vs 6897000 1st half shr profit 34 cts vs profit 12 cts net profit 951000 vs profit 320000 sales 206 mln vs 149 mln
world economic growth and therefore an expansion of debtor countries export markets are needed to solve the debt issue he added
already strained relations between the us and the european community ec are likely to get worse before they get better director general of the dutch economics ministrys foreign affairs division frans engering said
bankamerica says it expects to report a profit for first quarter 1987
the existing buffer stock of 100000 tonnes of cocoa was frozen in place with its bank balance of 250 mln dlrs both untouchable until rules are agreed
first bank systems inc in reporting higher first quarter net said that if interest is not paid on the 140 mln dlrs in brazilian loans and nine mln dlrs in ecuadorian loans for the rest of 1987 its profits for the entire year will be cut by 69 mln dlrs
pinola declined comment on what circumstances might move him to rekindle his bid for bankamerica saying only we continue to monitor and look at a lot of things and a lot of people continue to monitor and look at us banking analysts however consider another first interstate bid at bankamerica a long shot not likely to happen any time soon
miyazawa says g 7 still supports louvre accord
emery air freight corp to offer 40 dlrs shr for purolator courier corp
government borrowing stood at 926 billion dlrs for calendar 1986 against 315 billion for 1985
the executive said tandem will increase its research and development spending to about 100 mln dlrs this year from 87 mln dlrs in fiscal 1986
the sterling yen rate was about 24034 44 today up from 23450 at the start of the calendar year and a narrow range of 230 to 234 late last year
it also has oil and gas interests in britains north sea ecuador and the us along with gold and base metal production through its associate paringa mining and exploration co plc santos said
cooper basin oil producer santos ltd stoss said it will bid 400 dlrs a share for the 9603 pct it does not already hold in diversified oil and gas company tmoc resources ltd santos said the bid values tmoc at 2485 mln dlrs
the same day gaf corp raised its stake by 91 mln shares to 199 pct of the outstanding
the us agriculture department announced the prevailing world market price adjusted to us quality and location for strict low middling 1 1 16 inch upland cotton at 5057 cts per lb to be in effect through midnight april 16
but another arbitrageur said the hafts present bid seemed quite fair he said the offer amounts to 10 times after tax cash flow which is probably fully priced
the three ubs credit suisse and swiss bank corp provided an initial 409 mln franc credit after argentina signed a contract with sulzer in 1980
french finance minister edouard balladur has been in contact with several finance ministers from the group of seven leading industrial countries in particular west german finance minister gerhard stoltenberg to discuss the crisis on world markets finance ministry sources said
company chairman simon keswick said the uk market offers attractive opportunities for competitively priced food retailers and that a strategic investment in kwik save offers the best vehicle to pursue those opportunities
freestanding stores are also being planned the company said
the personel and operations remain the same the exchange added
the bell group ltd bllas said it now holds 149 pct of the issued capital of standard chartered plc stchl after acquiring further shares
but experience has shown that strong monetary growth eventually leads to a price rise which undoes the beneficial effects of monetary policy
production in 1985 86 is projected at 9999 mln tonnes vs 10000 mln tonnes last month
shr 91 cts vs 125 dlrs net 8710000 vs 117 mln avg shrs 9526287 vs 9362379 note share adjusted for 10 pct stock dividend in may 1986
1986 nine mths net includes charge of 1253000 dlrs or 12 cts a share for sale of reliacare and inspiron hospital products division
the rating agency also said it expects earnings to remain under pressure for the remainder of this year
he told the two companies are discussing a number of topics ranging from a joint venture in the production area to chrysler becoming a shareholding partner in the italian firm
ibc expected to maintain coffee export formula
partly offsetting these outflows exchequer transactions and a fall in note circulation will add some 200 mln stg and 50 mln stg to the system respectively
while japan has already done about all it can to make sure the chip pact is working the government is studying measures it can take in other fields to defuse american anger and ensure the trips success they said
laser photonics inc lazro 4th qtr dec 31
hockin said he hopes to here the associations response on the important issue soon
shr loss 19 cts vs loss 237 dlrs net loss 1140000 vs loss 13608000 revs 1069000 vs 1940000 year shr loss 53 cts vs loss 234 dlrs net loss 3012000 vs loss 13433000 revs 4945000 vs 6705000
bahia blanca 4 1 1 buenos aires 1 4 9 rosario 6 5 7 the tonnage of grain and oilseeds to be loaded onto ships loading awaiting berth and expected at each port was as follows
shr one ct vs two cts net 22000 vs 58000 sales 951000 vs 901000 year shr four cts vs 12 cts net 88000 vs 293000 sales 4014000 vs 3533000 note net includes tax credits of 46000 dlrs vs 84000 dlrs in quarter and credit 19000 dlrs vs provision 37000 dlrs in year
chemlawn chem seeks bids by march 18
also under the plan payments to allis chalmers private lenders would be deferred
hokuriku electric issues 35 mln dlr warrant bond
the finnish national airline finnair said in a statement today it ordered two mcdonnell douglas corp mdn md 11 passenger planes for delivery in october 1990 and may 1991 and had taken an option to buy on two more
italian net reserves rise in february
mercury entertainment mcry sees better results
non refundable for five years the 30 year first mortgage bonds are rated baa 2 by moodys investors service inc and bbb by standard and poors corp
beesley also said that if congress takes action to reduce interest rates offered to farmers to below market levels the government should provide this interest rate relief
because of recent divestitures chevron usa said the agreement does not cover gulf brand outlets in alabama florida georgia kentucky mississippi north carolina south carolina and tennessee as well as delaware new jersey new york pennsylvania and new england
the reserve bank said it cancelled the regular weekly treasury bill tender scheduled for march 3
turner broadcastings tbs cnn to air in china
belgium revises down 1987 gnp growth forecasts
tehran radio monitored by the british broadcasting corporation said a spokesman for irans war information headquarters was responding to us officials remarks about taking military action against iran the radio also quoted an iranian foreign ministry spokesman as saying iran would respond decisively to any aggressive measure by the united states
some producers are in no hurry to see quotas restored despite the price collapse seen since the failure of last months negotiations they said
exxon co usa said it is expanding marketing of its mid grade unleaded gasoline along the us east coast
under the existing pact members can borrow from banks to finance inras buffer stock purchases
in western europe the approach to trade disputes tends to be to try to reach a settlement through negotiation wolf said
the japanese seem to be on their own at the moment one dealer said
tcby enterprises tcby splits stock
grain mill product loadings in the week totalled 11382 cars down 18 pct from the previous week but 76 pct above the same week a year earlier the association said
wainco oil wol completes wildcat well
the cartels self imposed and self regulated are not legally binding but industry finds it in its own interest to stick to them
the boards review is continuing with the companys independent legal and financial advisers american motors said in a statement issued from new york
partnership increases gull gll holdings
but koizumi said the ldp does not rule out a rate cut if necessary in the future
northwest natural gas co nwngo 1st qtr net
transcanada pipelines was down 1 4 at 15 3 4 on the new york stock exchange
non callable for life the issue is rated baa 1 by moodys and bbb by standard and poors
we have received a good response from consumers of formula shell in terms of a smoother ride and effective fuel consumption showa shell said
debenture holders were entitled to convert their debentures into shares of the companys common stock at a 2250 dlrs per share or 44 4 9 shares of common stock per 1000 dlrs principal amount of debentures
single family starts rose last month from january levels by 56 pct to 1317 mln units on a seasonally adjusted basis while multi family unit starts fell 41 pct to 534000 units the department said
qtrly 15 cts vs 15 cts prior pay may eight record april 24
its extremely strong he said
american video operates stores in us military bases
the brazilian coffee institute ibc could close may export registrations tonight following extremely heavy sales today exporters said
rockefeller center properties inc said it raised its quarterly dividend to 45 cts from 44 cts a share
chinese ambassador tian ding told a meeting of pakistani industrialists on thursday that china intended to increase imports from pakistan to reduce a trade imbalance
winley buys land from mdc holdings inc mdc 
payless cashways inc pci 1st qtr feb 28 net
shr loss 111 dlrs vs loss 153 dlrs net loss 71 mln vs loss 88 mln revs 31 mln vs eight mln
exports were estimated to have risen by seven pct he said although he did not give complete figures
the market is expected to continue at around these levels reflecting the current 10 pct base rate level for some time
after the split the new quarterly dividend rate is equivalent to 29 cts a share
fluorocarbon co said it completed the acquisition of eaton corps etn industrial polymer division
the market has perhaps exaggerated the dollars effect on fed policy said first chicagos johnson
the company said it will convert the restaurants to pizza hut units
goodyear chairman robert e
italian industrial production fell 34 pct in january compared with the same month last year the national statistics institute istat said
changes set in dow jones industrial average
ecuador has also appealed for emergency aid from about 40 foreign governments
but local companies regardless of the rating obtained for a planned bond must meet the tough financial criteria set by commissioned banks and underwriters which includes minimum net asset requirements and capitalisation local agency managers said
japanese agriculture ministry officials told sales were limited to farmers to keep land in agricultural use
sindt said a number of issues will be discussed at that meeting including the current concern over the gulf corn premiums
on april 2 the board sanctioned the repurchase of the sequestered shares for 479 billion pesos at 126 pesos per share
s and p noted that bank of america a unit of bankamerica corp bac and republicbank corps rpt republicbank delaware unit issued credit card backed debt and also realized lower funding costs while mitigating increased funding and liquidity risks resulting from weak financial performance
recent announcements from moscow of next years grain production targets indicate that the soviets are estimating this years grain crop at 205 to 213 mln tonnes agriculture department analysts said
the united states has appealed for stronger powers for the general agreement on tariffs and trade gatt to enforce world trade rules
belgian prime minister wilfried martens announced to parliament a plan to reduce the 1987 government financing requirement by 206 billion francs
a group controlled by equitable bancorp chairman alfred lerner said it has acquired a 96 pct stake in ameritrust corp amtr and may buy up to 249 pct if obtains regulatory approval
if the saudis wish to stop our trade relationship i am sure that if they do we will be getting dozens of offers from elsewhere santana added
a decision by colombia to open coffee export registrations for an unlimited amount does not imply the country will heavily sell coffee until recently withheld gilberto arango president of the private exporters association told 
he told the hearing that the problem in soybeans is that the us loan rate provides an umbrella to foreign production and causes competitive problems for us soybeans
it also said french swiss and some canadian banks had subscribed to the package and that the remaining canadian banks would sign the accord in the next few days
fed governor supports commodity price guide
the department said the sales will be subsidized with commodities from the commodity credit corporation ccc inventory and the subsidy will enable us exports to compete at commercial prices in the algerian market
last year the reagan administration rejected a petition by the us rice industry seeking relief from japanese import restrictions
the agreement calls for a two mln dlr payment to inkey for the distributorship
president jose sarney whose handling of the economy is under attack at home and abroad has held private talks with brazilian business leaders worried that government policies are leading to recession
under the terms of the option agreement ansett would have the right to maintain its 20 pct position in the event of future stock sales but could not go beyond 20 pct unless so requested by america west abeles said
opec agreed this weekend in vienna on an output ceiling of 166 mln barrels per day bpd for the rest of 1987 and retained the fixed prices that were set in its december accord based on an 18 dlr per barrel reference point
at the last auction on february 19 two billion francs of crh tap stock was sold at a minimum price of 9150 pct and yield of 973 pct
in addition to the revolving credit bp also is arranging a us commercial paper program for an as yet undetermined amount which will be supported by the revolver
treasury director daniel lebegue said last month that gross domestic product is expected to grow by between two and 25 pct this year against an original target of 28 pct
both treasury secretary james baker and federal reserve board chairman paul volcker recently have warned that further declines in the value of the us dollar could jeopardize global growth prospects
the two firms said the terms of the facility will be reviewed after the third year with a view to considering extension by a further two years
earlier the bank which specialises in providing finance to latin america and the caribbean announced pretax profits of 439 mln stg for calendar 1986 against 43 mln in 1985
chinas outstanding foreign debts rose to 7572 billion at end 1986 from 5067 billion at end 1985
oakwood homes oh sells convertible debentures
next wednesday 149 billion marks are leaving the system on the expiry of a securities repurchase pact
gander mountain sells brand name hunting fishing and outdoor gear through catalogs
payment of the dividend was contingent on the closing bid price of the common stock averaging two dlrs or more per shares for the trading days within any consecutive ten day period ending before february 29 1988
french official reserves fall sharply in january
firm has supreme equipment seqpo stake
uk money market given further 166 mln stg help
it said this ruling was a key condition in completing the deal
british telecommunications plcs btyl profit growth prospects for the coming years will be reduced by increasing competition and continued costs for replacing old telephone systems deputy chairman graeme odgers said
the regional breakdown of unwrought aluminium production was as follows in thousands of tonnes the ipai said
the company said lead underwriters are alex
the provincial government has increased investment in grain and taken effective measures to combat natural disasters this year the agency said but gave no further details
following is the text of a statement by the group of seven the us japan west germany france britain italy and canada issued after a washington meeting yesterday
the increase brings the companys posted price for the benchmark grade west texas intermediate to 1750 dlrs bbl
those who sow wind cannot expect the whirlwind to visit elsewhere he added
at present if the market price has been above or below the reference price set at 20166 malaysian singapore cents a kilo in the current agreement for six months the reference price is revised by five pct or by an amount decided by the international natural rubber organisation council
usx x chairman calls for lower dollar
lower prices are sure to trickle down to the supermarket shelf this spring coffee dealers said
shr 216 hk cents vs 12 final div six cents vs three making nine cents vs 55 net 121 mln dlrs vs 6742 mln note extraordinary gains 72 mln dlrs vs 27 mln
total turnover topped four billion guilders after 35 billion in the previous active trading week
the company also said its non recourse project financing for the irish lindergh heavy oil field remains in default due to continuing low oil prices
the official said taiwans trade surplus is expected to climb to 428 billion us dlrs in the second quarter of 1987 from 381 billion a year earlier
hk telephone shareholders other than the cable and wireless group will receive warrants on a one for five basis entitling them to acquire from cable and wireless plc within five years one hk telecom share at 10 dlrs each
last week viacom reported fourth quarter earnings fell two two cts per share from 23 cts
the chain also owns among others the flagship san francisco examiner the los angeles herald examiner and the seattle post intelligencer
china has been the subject of about a dozen cases involving anti dumping in the us within the last two years which the us side won he said
surprisingly strong us housing statistics for february cannot be taken as an indication that the economy is generating any momentum and are not sufficient cause to start lifting forecasts for first quarter growth economists said
this takes the banks total help today to some 2096 billion stg and compares with its forecast of a two billion stg shortage in the system today
shr 12 cts vs 10 cts net 613986 vs 534093 revs 9494570 vs 7591564 year shr 41 cts vs 59 cts net 2151130 vs 3111317 revs 359 mln vs 337 mln note 1986 net includes gains from discontinued operations equal to three cts compared with nine cts in 1985
it said it had not yet determined the interest rate conversion terms maturity date or size of the issue
finance secretary jaime ongpin has said approval of the loan will trigger another 300 mln dlr loan expected from the export import bank of japan
proceeds will be used to satisfy a february 1987 repayment demand by one of the companys lenders
however financial market sources said they had heard the ministry has asked life insurance and securities firms to refrain from selling dollars but they were unable to confirm this directly
the bank of england said it had provided the money market with 16 mln stg help in the afternoon session
on april 27 the dollar fell to a 40 year low of 13725 yen but has enjoyed a modest recovery over the last few weeks topping 145 yen today for the first time in nearly two months
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
m
merrill lynch said it would continue operating borg warner as a subsidiary with its current officers keeping their positions
1987 per share loss is after deducting for preferred stock dividends
funaros trip follows the decision by brazil 10 days ago to suspend interest payments on 68 billion dlrs of commercial debt
shr loss two cts vs profit three cts net loss 80333 vs profit 67967 revs 1162678 vs 1009731 avg shrs 3317104 vs 2494049 year shr loss 21 cts vs profit four cts net loss 679520 vs profit 96724 revs 4191540 vs 4702999 avg shrs 3242641 vs 2525677 notes revenues exclude hospital television rental business sold dec 29 1986 1986 losses in both periods include gain of 530000 dlrs on sale of discontinued business
ic industries says it will consider possible sale of its aerospace business
the luxembourg based european investment bank issued a 300 mln danish crown bullet eurobond an official at lead manager den danske bank af 1871 a s told 
he was asked about target zones at a news conference in bonn
consumers and producers could not agree on how it should operate and what discretion it should be given
poclain offers par rights issue
in 1986 the two firms neville lewis associates of new york and walker associates inc of la produced 156 mln dlrs in total fees
banking sources said that although the january money supply figures were good compared with annualised rates of 139 pct in december and 102 pct in january 1986 alp growth appeared to have accelerated in february raising government concern
the type and grade quantity sold average prices in rupees per 50 kilos exclusive of sales tax with previous prices at the march 11 auction in brackets 1986 87 crop plantation a 5922 128450 122350 plantation b 741 109550 112200 plantation c 2082 101900 101750 arabica cherry ab 333 97650 na arabica cherry pb 225 94900 na arabica cherry c 582 88950 na robusta cherry ab 909 125600 na robusta cherry pb 438 103950 na robusta pmt ab 492 125550 na robusta pmt pb 135 120000 na rep bulk a 939 105750 90850 rep bulk b 2565 107900 93000 robusta cherry bulk 402 108250 na robusta cherry c 90 99700 na robusta cherry bbb 96 70000 na 1985 86 crop arabica cherry ab 1233 96100 95150 arabica cherry bbb 1608 63550 61350 robusta cherry bbb 42 73500 70450 monsooned coffee monsooned robusta aa 237 126550 na
the increases range between three and nine cts per dry pound
minpeco lifts force majeure on zinc ingot shipments from cajamarquilla spokesman
xerox corps affiliate rank xerox ltd said it signed a definitive agreement to sell its rank xerox south africa pty ltd affiliate to altron group alrno for undisclosed terms
blockbuster said it will issue 80460 shares of its common stock for all the net assets of southern video
bank of japan intervenes buying dollars at around 14730 yen dealers
the company said it hopes to complete the acquisition in may subject to its review of frick and frigid and regulatory approvals
the bank of england said it had provided the money market with around 40 mln stg late assistance
chairman clive knobbs said in the annual report the mine was expected to mill a higher tonnage while capital expenditure during 1987 will be around 1185 mln rand
the office said the production index base 1980 stood at 973 in december against an adjusted 1169 in november and 988 in december 1985
prices showed gains to 1 8 to 3 8 point across the board
the average yield on the six month bills was the highest since 589 pct on july 28 last year
shr 10 cts vs seven cts net 249143 vs 175476 sales 3034010 vs 2745288
standard and poors said its downgrade of chemical also reflected that holding companys acquisition of texas commerce bancshares tcb which was just now approved by the federal reserve
keating said the government would maintain responsible economic management regardless of whether it was drawn into an election because it would take time to stabilise australias 80 billion dlr foreign debt
bankers trust bt raises broker loan rate
the budget unveiled on tuesday foresaw gdp growth in 1987 of three pct
but a spokesman for the union earlier told the south african press association that miners had been locked out of the mine at the weekend after staging a strike in protest against being ordered to carry bags containing explosives as well as food for white miners
before todays sale of corporate bonds those securities had comprised roughly two thirds of the pension fund portfolio
analysts and portfolio managers said they viewed texacos bankruptcy filing as a defensive move
a spokesman said the company is considering the sale or spinoff of the 91 company owned additional restaurants which are profitable
demand would have to stay above 70 mln bpd to have a draw he added
the following proposed securities offerings were filed recently with the securities and exchange commission bank of new england bkne offering of 200 mln dlrs of subordinated capital notes due 1999 through an underwriting group led by morgan stanley and co inc
last month it said the bank of england took the opportunity of strong demand to rebuild reserves after losses last autumn
for the third quarter ended january 31 heinz earned 747 mln dlrs or 55 cts a share up from earnings of 632 mln dlrs or 46 cts a share for the year ago quarter
some banks continued to count loans as performing
credithrift financial corp said its board authorized the redemption of the companys 820 pct senior notes due dec 15 1987
noranda begins murdochville mine salvage
he declined to identify the service america officials in the acquisition group
total west german consumption was estimated at around a high 287000 tonnes largely reflecting attractive prices
when the deal was launched the major players quickly suspended trading and refused to quote prices for their own issues brokers said
non callable for two years the issue is rated b 1 by moodys investors service inc and b by standard and poors corp
appropriations to government departments had been cut by eight pct since the budget was passed in december and foreign borrowing by municipalities had been restrained
perus biggest state mining firm centromin sa said today there was no immediate force majeure possibility on its copper shipments after guerrillas blew up a railway line interrupting train traffic from the cobriza copper mine to the pacific coast
he also refused to say whether gaf would consider increasing its the dollar value of its takeover offer if the initial proposal is rejected
finance minister michael wilson announced amendments to canadas revolving standby credit facility with a group of canadian banks to provide more favorable terms including a reduced commitment fee and lower cost borrowing options
the two companies proposed a five for one share split
citicorp cci was the other partner in cyacq
lead manager is bt asia ltd and syndication is expected to close on march 16
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
bank of new york said it raised its prime lending rate a quarter point to 7 3 4 pct
arbed said in current conditions cost cutting efforts remain necessary to avoid any weakening of resources which have been built up over the last three years
us bank discount borrowings average 302 mln dlrs a day in march 25 week fed says
ausimont compo nv aus 4th qtr net
but the executive conceded a merged twa usair would be a strong contender with usairs east coast route system and planned west coast presence from psa
shr profit 13 cts vs loss one ct net profit 853000 vs loss 22000 sales 411 mln vs 203 mln avg shrs 6349753 vs 4403852 nine mths shr profit 57 cts vs profit 28 cts net profit 2869000 vs profit 1252000 sales 1190 mln vs 676 mln avg shrs 5054844 vs 4403852
angelica corp agl 4th qtr jan 31 net
it said janunary march imports rose to 651 billion baht from 587 billion
but tenneco today said open access is one of the steps ferc is taking to restructure the gas industry in the us ferc is moving the industry through this restructuring now even before all transitional problems are solved a spokesman said tenneco faces 17 billion dlrs in exposure under the take or pay contracts but he had no specific figure for tennessee gas which runs 2000 miles of pipelines from louisiana and texas up to new england
but there has been doubt over the plans since the stock fell below this level this week after fermentas former chairman kjell brandstrom said the company was in a much worse state than he thought
a shareholder group including entregrowth interational ltd of auckland new zealand said it lifted its stake in suave shoe corp common stock to 319600 shares or 115 pct of the total outstanding from a previous figure of approximately 238400 shares or 86 pct
the utility has about 33 billion dlrs of debt outstanding
louis by april 30
unocal corps union oil co said it lowered its posted prices for crude oil one to 150 dlrs a barrel in the eastern region of the us effective feb 26
fhlmc also has 100000 shares of common owned by the home loan banks
journeys end motel corp six mths jan 31 net
alusuisse plans 50 pct capital cut
french gross domestic product risks not reaching the two pct growth registered last year the council said in a report on first quarter 1987 economic activity without giving any specific forecasts
the arrangement calls for san bar to spin off assets of its break free division to shareholders then exchange its own shares for resdel stock at a ratio of one resdel share for each san bar share held resdel said
the lending is in line with japans plan to contribute 20 billion dlrs over the next three years to developing countries
sterling software ssw note holders ok buy
burke 57 has been chief operating officer of m a com since last november
lawson remarks dash hopes of early uk rate cut
marshall steel ltd year net
the departments consumer price index showed that the cost of gasoline rose in february by 42 pct after a 66 pct rise in january
bci said the new fund is structured as a guernsey based unit trust which will be listed on the luxembourg stock exchange
the floaters have average lives of 785 and 156 years for maturities of 2012 and 2015
abbott laboratories inc said its 1987 first quarter record results reflected continued productivity improvement higher volume better product mix and a weaker us dollar
the company changed its fiscal year in 1986 to a calendar year from a year ending november 30
the us on the other hand has not cut its budget deficit as japan and west germany have urged she said
on january 26 bankamerica filed a shelf offering for up to one billion dlrs of preferred stock and subordinated capital notes
the bidders for the company were british aerospace plc baell and engineering group gkn plc gknl royal ordnance sold its leeds tank factory last summer to vickers plc vickl defence electronics manufacturer ferranti plc fntil and shipping and property group trafalgar house plc thsll both pulled out of the bidding shortly before last months deadline
brazil has the capacity to export 20 mln bags this year calmon added
advanced institutional aimso in new facility
the underwriting margin is 10 basis points over australian dlr bank bill rate and the underwriting fee is 75 basis points
the annual rate of growth in february was 37 pct up from 16 pct in january
malaysia is a leading exporter of rubber palm oil tin and semiconductors and a major producer of cocoa timber and oil
closing of the transaction is scheduled for june eight wolverine said
us soybean world market share has declined 35 pct in volume and 40 pct in value since 1982 primarily as a result of ec policies adams added
the transaction is guaranteed by c
qtly div five cts vs five cts prior pay july 13 record june 30
it did not disclose the name of the company
if the compromise is accepted by the council most consumers and producers want buffer stock rules to take effect next week or as soon as practically possible
bresser pereira said the economic plan would seek to keep the economy growing to build an eight billion dlr trade surplus and to force a sharp drop in the inflation rate
the company said ohta shoji chief executive officer of toho mutual life insurance co owns the majority of koba electronics shares
weve had three years in a row in which the soviets have failed to live up to their end of the agreement we would love to continue to keep doing busines with the soviet union but do we need a long term agreement
the steel market weakened increasingly over the year mainly because of exchange rate movements the deterioration in foreign trade and a downturn in a number of customer industries
niedermeyer told the house foreign affairs sub committee on international economic policy and trade in washington that the sales agreement contains an option that could make lumber exported worth more than 20 mln dlrs
parliamentarians said their action would increase pressure on the conservative government to take firm action
he currently owns 58 pct of uccel
there is considerable divergence with the banks
the unit had sales of five mln dlrs in 1986
it recorded net earnings of 125 mln dlrs or 143 dlrs per share for fiscal 1986
current assets at year end fell to 241 billion dlrs from 443 billion dlrs and current liabilities fell to 188 billion dlrs from 238 billion
hughes tool ht says baker bko merger alive
the new figure is 211 to 227 pct lower than the 128 mln tonnes produced in the last harvest according to official figures
the baker hughes merger which would would create a 12 billion dlr oilfield services company almost fell through earlier this month when hughes balked at terms of a proposed justice department consent decree that would have given the companies only three months to find a buyer for the reed business
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
us oil demand as measured by products supplied rose 01 pct in the four weeks ended march 20 to 1616 mln barrels per day from 1615 mln in the same period a year ago the energy information administration eia said
when asked to clarify comments by rep
the bonus will be paid in the form of commodities from the inventory of ccc stocks
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
under the system importers will be required to present a bill from the foreign seller of goods and apply for a license for foreign exchange
the first two banks have been liquidated which enabled partial repayment of advances and the remaining two banks were sold and the new owners repaid the advances
us trade representative clayton yeutter said the export enhancement program eep should be used as a tactical tool and not as a general policy
we think that the settlement in the morning will have a salutary effect so that over a longer period of time i think this issue triple witching will go away because of the change in the structure as of next june when the move is scheduled to go into effect he said
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
the report said latin america continued to emerge slowly from the deep recession that began in the early 1980s with gross domestic product edging up to nearly four pct from 35 pct in 1985
gasoline demand averaged 676 mln bpd off 31 pct from 698 mln last year while residual fuel demand was 115 mln bpd off 169 pct from 139 mln the eia said
state plantation officials in sri lanka said prices had been depressed since inras inception and the creation of a buffer stock and they seemed unlikely to rise
currency options pioneered by the phlx in 1982 had become an accepted means of hedging against foreign exchange risk and had grown in popularity he said
us lead inventories rise in february abms
but it will be a tremendous achievement because theyre going to have to build an international earnings base larger than the earnings of a lot of significant domestic trust companies walsh said
in a filing with the securities and exchange commission the concern which comprises paragon associates and paragon associates ii said it bought the stake for 7659000 dlrs and may buy more shares
hayes albion corp said its shareholders approved a plan to merge with and become a wholly onwed subsidiary of privately held harvard industries inc
baker says latins balk at us iadb compromise
henry schroder wagg and co ltd said
were talking nuts and bolts economic survival and whether its worthwhile for farmers to put in a crop farm leaders and economists have estimated the board will recommend cuts of around 20 pct in the initial prices
the fed clearly indicated that they did not intend to tighten policy when they did todays coupon pass said joseph liro of sg warburg and co
the company said its propane disution natural gas spot marketing data processing oil and natural gas exploration and production natural gas gathering and underground pipe replacement businesses had sales for the year ended september 30 of about 74 mln dlrs or about 25 pct of total company sales
but the average sales price of both dropped to 1383 dlrs per barrel from 2643 dlrs for oil in 1985 and to 149 dlrs per thousand cubic feet from 218 dlrs a year earlier
the company reiterated its denial of the charges stating there was no merit for the suit
mikulic introduced a law cutting wages to the level of the last quarter of 1986 and tying future rises to productivity
sealed air corp see 3rd qtr net
simon said bp had carefully considered the amount of its planned bid and he quoted an oil analyst whom he would not identify as saying bps careful evaluation means the company is not going to raise its offer
emery last year lost 54 mln dlrs on revenues of 8875 mln dlrs
the bank holding company said proceeds will be used for general corporate purposes including investments in or extensions of credit to its subsidiaries
union carbide has also benefitted from the turnaround in foreign exchange rates and lower feedstock costs the agency noted
the company said if the merger is approved by shareholders of both companies the shareholders of john paul richards would become majority shareholders owning 60 pct of the common stock of the new public company
the state news agency tanjug said on october 9 that yugoslavia plans to adjust debt repayments over the next eight years and to cut the debt service ratio to 25 pct
the collapse of international coffee organization ico talks on export quotas yesterday removes the immediate need to reinstate us legislation allowing the customs service to monitor coffee imports analysts here said
avery avy 1st qtr feb 28 net
total exports dropped to 250 billion dlrs last year against 297 billion in 1985
i believe the entire chemical industry is headed for a record year or close to it oreffice said
us oil production had dropped some half mln barrels a day bbd in 1986 and would continue to fall if the price stayed below 20 dlrs a barrel
omar said 375 mln pounds would be spent on subsidising sugar and wheat flour prices in 1987 88
association companies such as rank xerox ltd indicated an improved performance a statement issued at the annual meeting said
australia said to rely too much on oil taxes
in our conversations with the underwriters we thought three different tiers would make more sense because the prices would not be far apart meanwhile underwriting syndicates are scheduled to bid competitively tomorrow for 250 mln dlrs of first and refunding mortgage bonds due 2017 of philadelphia electric co pe non refundable for five years the debt is rated baa 3 by moodys and bbb minus by standard and poors
showa aluminium corp is issuing a 100 mln dlr equity warrant eurobond due april 23 1992 paying an indicated coupon of 2 1 8 pct and priced at par lead manager nomura international ltd said
the icc had rejected in july the merger of the santa fe and southern pacific railroads on the grounds that it would reduce competition
the s and p downgrades were a non event a trader said
dixons group plc said it does not plan to extend the expiration date of its tender offer for any and all common shares of cyclops corp beyond tonight
great american corp said preliminary findings by regulatory examiners of its ambank subsidiary will result in a first quarter charge of 141 mln dlrs and a writedown of 14 mln dlrs
tpa of america inc tps 4th qtr loss
it said interest payable march 31 will be paid in the usual manner to holders of record on march 15
court approves ltv qltv bank credit agreement
in 1986 quarto generated 59 mln dlrs in net income equal to 62 cts a share of naccos total 1986 earnings of 348 dlrs a share
the contribution of each one of them corresponds exactly to the request of the mexican government the statememt said
the lower dollar was the main reason for an 83 pct fall in exports to north america an 114 pct drop to latin america and 226 pct plunge to the middle east
under a new accounting system introduced this month spains foreign reserves now exclude foreign currency held by financial institutions
greenspan said today that the dollar appeared to be nearing a bottom but the market will bear in mind his remarks in chicago last week that the dollars recent move upward was a technical reaction and that it would trade significantly lower analysts said
the notes are designed to qualify as primary capital for federal reserve board regulatory purposes the bank said
the study funded by nppc with producer checkoff money evaluated pork carcasses from 47 iowa producers in categories from 07 to 13 inches of backfat
rober kill has withdrawn their proposal to acquire the companys stock for 2350 dlrs a share
bolivia intends to pay for the repurchase with aid that foreign goernments especially the united states and west germany are providing to help finance the eradication of coca crops
handelsbank is joint lead with prudential bache securities int
i dont see right now that the eep will be on the chopping block glickman said
the british petroleum co plc bpl unit attributed the deficit to stock losses arising from the drop in crude prices in the first half when it made a 11993 mln dlr loss
proceeds will be added to general funds and used to finance capital expenditures in 1987 the company said
the name was changed to k mart in 1977 stevenson said
development corp of america whose board approved the acquisition last november for 90 mln dlrs said the merger was effective today and its stock now represents the right to receive 15 dlrs a share
i think the brazilians have the attention of many of their creditors but they must come up with a plan that will persuade people that the brazilian economy is going to be put on a course that will result in some growth turning to japan conable said the role of that country has been increasing in the world bank and is expected to continue to do so
feedlot marketings have been running at a heavier than expected pace
clabir corp said its 86 pct owned affiliate ambrit inc abi has agreed to acquire the popsicle industries division of sara lee corp of canada ltd for about 37 mln canadian dlrs in cash
the selling concession is 1 1 2 pct while management and underwriting each pay 1 2 pct
german producer prices rise 01 pct in may
the top selling hurriyet topped its front page with our resolute stand made greece see reason but two newspapers cumhuriyet and milliyet noted in identical headlines crisis frozen that the basic disagreement over exploration rights remained unsolved
searle chairman sheldon gilgore said searles operating loss in 1987 will be less than the 87 mln dlr operating loss in 1986
the bank said sterling bank lending grew by a non seasonally adjusted 175 billion stg in january
these included measures to allow companies to balance their shares of prt exempt oil allowances through reallocation in two past periods of allowance utilisation
the total non merchandise deficit grew to 504 billion dlrs from 414 billion dlrs
he said borrowing arising from money market operations would amount to an additional 29 billion dlrs making a total of 298 billion dlrs just short of the borrowing limit of 30 billion dlrs
they added that the preferred stock is redeemable at the companys option at prices declining to 25 dlrs per share on and after march 15 1997
but the european community has challenged the agreement as a violation of general agreement on tariffs and trade gatt practices that discriminates against its microchip producers
in december the bleu had an 119 billion franc trade surplus after a 109 billion franc surplus in november and a 23 billion franc surplus in december 1985
he was referring to perus policy of limiting payments on its 14 billion dlr debt to 10 pct of its export earnings
a fed spokesman told reporters that there were no large single day net miss in reserve projections in the latest week
niskanen said the goal of a pact should be to end all tariffs within 10 years lower subsidies on exports set rules for trade in services and investments end curbs on government procurement and agree ways to resolve trade disputes
new orders for durable goods received by us manufacturers rose 57 billion dlrs or 60 pct in february to 1012 billion dlrs the commerce department said
in january durable goods fell a revised 99 pct instead of the previously reported 75 pct
prospects for continued economic growth through 1987 and into 1988 are still quite favorable he said
shr not given net loss 4066 mln vs profit 354 mln revs 1381 mln vs 2119 mln note 1986 net includes 5457 mln dlr asset writedown before 1392 mln dlr recovery of deferred taxes
glickman said rules for the reconstitution of farms and tightening up of the person definition for annual payment limitations is another option and could save 100 200 mln dlrs
broadcasting including assets pending sale might be 30 to 40 dlrs per share he said
hog report shows more hogs on farms
shares of du pont co rose today after accumulating recommendations from shearson lehman brothers and first boston traders said
this weeks us economic data are expected to have little impact
analyst says dart group likely bidder for supermarkets general
prior to its takeover in december it had accumulated long term debt of 600 mln canadian dlrs
nestle sa neszz year 1986
it estimated the 1985 86 crop at 8581 mln tonnes vs 8581 mln last month
a company survey shows the gold ore contains up to 133 grams of gold per tonne he said
world cereal stocks at the end of 1986 87 were forecast to rise 47 mln tonnes to a record 452 mln tonnes softening the impact of reduced production
ec industry ministers meeting here considered two key proposals aimed at cutting back surplus capacity by 30 mln tonnes by 1990
peter miller apparel group inc said it signed a letter of intent to issue 216 mln dlrs of convertible debentures subject to regulatory and board approvals
bank of japan to sell 800 billion yen in bills
pre tax profit 134 mln stg vs 759 mln
chrysler first a subsidiary of chrysler financial corp had receivables of 43 billion dlrs at the end of 1986
it said the debentures may be exchanged at any time prior to maturity unless previously redeemed for shl systemhouse common shares at an exchange rate to be determined at the time of the sale of the debentures
chrysler corp said it made 98648 cars in the us in march down from the 115540 cars it produced in the same month last year
british farm minister attacks subsidies
affandi replied that rice is the main staple and provides an income for 17 pct of the workforce
while volume was considerable prices rose more moderately
the company also said it still intends to pursue a new corporate direction and is exploring acquisition alternatives
allieds first disclosure of the debartolo takeover was made on oct 8 even though its board approved the merger on oct 3 and the merger agreement was executed on oct 7 the complaint said
they said there were rumors the stock was under accumulation and speculation abounded the company would soon receive an offer
we are holding active discussions with the ec and bilaterally she added
the payment date is march 30 while listing will be in luxembourg
news of a meeting between us treasury secretary james baker and west german finance minister gerhard stoltenberg on monday soothed currency markets allowing the dollar to recoup much of the days losses dealers said
he was referring to trade legislation pending in congress that would force the united states to take retaliatory actions against nations with large trade surpluses with the united states if the countries practiced unfair trade
june canadian dollar closed at 07656 tuesday
talyzin said the ruling politburo concluded at a recent meeting that an improvement in economic performance depended to a large extent on conserving resources better
bellsouth said under the nov 25 1986 agreement it exchanged one of its common shares for every 133 dataserv common shares
i think the market is going to stabilize and give us a good second half others were less optimistic however
wavehill international ventures inc said it has completed the previously announced acquisition of personal computer rental corp for 500000 restricted common shares giving former shareholders of personal computer a 25 pct interest in the combined company
societe miniere louvem inc said its board of directors has offered to buy an option to buy back its owns shares from provincially owned soquem its major shareholder
antibiotics in feed aid deadly bacteria study
in this he had the backing of many in the reagan administration who viewed the bank as a bloated and inefficient bureaucracy that gave money to countries when other free market sources of assistance were available
the executive directors of the islamic development bank idb approved a total of 115 mln dlrs of trade and project financing loans to its member countries in the first two days of its meetings here a bank statement said
net profits for year ended december 31 1986 13 billion lire vs 473 billion deposits from clients 36910 billion lire vs 34190 billion loans to clients 24480 billion lire vs 21815 billion note the bank sold by bankamerica corp bkn last december to west germanys deutsche bank ag dbkgf said the sharp fall in net profit reflected various factors including higher set asides for risk coverage and a high tax burden
intercare said to date it has incurred about 500000 dlrs in expenses in connection with the proposed offering
harleysville plans to invest about four mln dlrs in the business if the deal is completed
we will use that advantage responsibly he said
rayrock to issue 24 mln dlrs of notes
the buffer stock aims to keep prices within a pre set range by buying when prices fall and selling when they rise
atlantic richfields arco oil and gas co said it increased contract prices for crude oil by 50 cts a barrel effective today
we are not interested in confrontation but we would like the loan mechanisms to show that the crisis belongs to both sides funaro said
sama offers a total of 19 billion riyals in 30 91 and 180 day paper to banks in the kingdom each week
this also confirmed provisional figures issued in february
ccc credits for mexico switched to wheat usda
a sun chemical spokesman declined to comment
world sales which began on october 20 1986 reached 2193 mln ounces in less than six months of sales
there is a good chance that the united states and latin america will agree reforms in the inter american development bank iadb as a result of talks yesterday with us treasury secretary james baker mexican finance minister gustavo petricioli said
they said they saw no sign of planned withdrawals as yet adding that they would expect operators to wait another week or two to review commission policy before making up their minds
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
principal repayments were not due until 1990
should these loans remain on nonperforming basis for the rest of 1987 net income for year will be cut by about 32 mln dlrs the bank said
he also declined to say what sort of sum unilever hoped to realise from the operation beyond noting that chesebrough had paid around 125 billion dlrs for stauffer chemical co which operates outside unilevers core activities
one attorney said sec probers also were examining whether sugarman and drexel had made adequate disclosures of its intended usage of the proceeds in the prospectus for the 35 mln dlr bond offering
shr profit 273 dlrs vs 229 dlrs net 1291 mln vs 1058 mln nine mths shr loss 2833 dlrs vs profit 642 dlrs net loss 116 billion vs profit 3018 mln note 3rd qtr includes previously reported gain of 550 mln dlrs or 294 mln after tax by capturing excess pension funds
required reserves did indeed rise sharply by 25 billion dlrs a day in the two weeks ended wednesday but economists said the fed may not have believed in the magnitude of the projected m 1 surge until late in the week and so started to add reserves too late
the business bulletin newspaper said the firm had assets totalling 122 billion pesos while dbp and pnb exposures with the firm were estimated at 149 billion pesos
adequate soil moisture in these areas met crop moisture demands reducing the potential for crop stress it said
sears roebuck and co s 3rd qtr net
the soviet unions recent corn purchases from the united states could total as much as 35 mln tonnes us agriculture undersecretary daniel amstutz said
yesterdays comment by baker that he stood by the paris accord did nothing to reverse sentiment dealers said
countries dont get very serious about negotiating until the end of the day which is maybe five or six years in the future he also said he did not consider the new us congress as protectionist as it was 18 months ago
he declined to comment on whether the subject of concerted action to shore up the dollar had arisen
versar vsr to buy marietta ml unit
new zealands reserve bank said it has cancelled the regular weekly treasury bill tender scheduled for tomorrow
published reports have stated it could be worth as much as 500 mln dlrs
more than 16000 engineering workers at 45 firms mainly in south germany held warning strikes lasting up to two hours yesterday
united illuminating co uil two months feb 28
the payment date is april 2
at the end of last year perus total foreign debt stood at 1446 billion dollars 1317 billion dollars of which is medium and long term debt the central bank said
butler btlr to purchase naturalite
however maki quoted kato as replying that japan was already the worlds largest grain importer
by fujitsu ltd which was withdrawn
southland corps citgo petroleum corp said it raised the contract price it will pay for crude oil 50 cts a barrel effective today
they said the domestic beef intervention price influences imported beef selling prices on the domestic market
i think the paris agreement represents evidence that international economic policy co ordination is alive and well baker said
the deadline for the receipt of offers by the manager shall be 1330 hrs london time 1230 gmt in the case of offers emanating from the secondhand market and 1400 hours in the case of offers emanating from the origins
atlantic richfield rose 1 3 4 to 77
shr two cts vs one ct net 42000 vs 26000 sales 156 mln vs 152 mln note 1987 net includes gain 63000 dlrs from change in pension accounting
under the agreement control data will continue to furnish disk drives to unisys it said
norway is expected to seek a compromise solution to defuse a row between den norske stats oljeselskap a s statol statoil and conoco norge a s over which firm will operate the heidrun oil field government sources said
full year 1986 turnover 1714 billion stg vs 1669 billion
standard and poors said it had downgraded the kingdom of denmarks long term external debt to aa from aa plus following the countrys loss of the top aaa rating in january 1983
note earnings per share and dividends have been adjusted for the firms two for one bonus issue made in april
borg warners industrial products group based in long beach california has sales of about 300 mln dlrs and employs about 3000 staff
shultz welcomes tokyo economic package
the company also said it believes sales in the first quarter will surpass record sales of 21 billion dlrs last year
bank went public on february 11 1987
the firm bought the building which has total floor spaces of 110580 sq ft and is now fully let as part of a parcel of properties which it acquired from hongkong land co ltd hkldhk for 143 billion dlrs late last year
new lme aluminium contract welcomed by trade
general opinion among exporters was that brazil would plan to export between 17 and 18 mln bags this year of which between 15 and 20 mln would be to non members of the ico
npn acquired control of whippany in a recent tender offer
the price of coffee kenyas main source of foreign exchange fell in london today to about 94 cents a pound from a peak of 214 dlrs in january 1986
pay n pak stores inc said it received a revision to one of the two previously disclosed proposals to buy the company
i feel like if we didnt expand production we could probably hold where we are indefinitely or at least through the 1985 farm bill without any changes in the sugar program huckaby said
looming trade friction is also threatening to erect more barriers against japanese exports
japan will have to explain what the state of their program is and germany will report on its plans
government cash balances fell 565 mln dlrs to 431 billion dlrs in week ended march 4
im not looking for improvement this year
there are rumors that various houses will bring litigation if we dont get answers said a wall street source
conable in a wide ranging television interview to be shown on public broadcasting tomorrow said brazil now has the attention of its creditors and must come up with a plan designed to reform its economy
the soil needs to warm up rapidly and moisture content must improve to avoid further delays to spring field work it added
listing is in frankfurt
stephen t
owens illinois which was taken over by a group led by kohlberg kravis roberts and co said financing incurred in the takeover includes a 550 mln dlr bridge loan provided by a bank group 200 mln dlrs provided by two common stock partnerships and 600 mln dlrs of junior subordinated notes due sept 17 1988 which were sold to an affiliated of morgan stanley and co inc
responding to another question tsai said aids related claims were a small portion of claims made with american cans insurance subsidiaries in 1986
analysts are watching with interest the fate of a new us consortium which hopes to challenge japan by developing the most advanced technology for microchip manufacturing
it added it expects to close the deals on june 18 and 19 subject to standard closing conditions including title and environmental approval and closing of a definitive agreement
he said the second reason was political uncertainty caused by proposed spending plans of the opposition labour party
instinet said the filing of the preliminary merger proxy materials is tied to the finalization of audited financial statements of instinet and for 1986
the rights are intended to assure that all holders receive fair treatment in the event of a takeover
tomorrow next for which buy sell quotes started at 30 20 pct ended at 14 eight
alusuisse aluzz year 1986
only venezuela is paying back principal
britannia coin to sell at premium
american nursery products ansy 3rd qtr net
he said he believes such a merger could create a stronger force in the tire industry
baker said that developing countries must adopt free market economic policies such as in the united states
gulf escorts still under discussion weinberger
indonesia has protested to the european community ec about its plan to raise import duties on vegetable oils which will affect the countrys palm oil exports to the ec trade minister rachmat saleh said
the hunt group which also includes securities texas firms cypress partners lp and driftwood ltd said it spent 152 mln dlrs on its 1197700 comdata common shares
mitchell held of smith barney harris upham and co inc said that many portfolio managers now believe yields could approach nine pct by midyear which he considers unlikely
exchange rate stability is in the uk s interest he told journalists
the conventional wisdom among grain trade representatives here is that a general warming of relations between the two countries since last summer combined with continued hard times in the us grain belt would favor a subsidy offer
applebaum who is also positive on armco and inland has been recommending the stocks since last november
atlantic city electric co ate sets payout
royal insurance issues 300 mln mark eurobond
proposals to require banks to inform the bank of england in advance of planned exposures in excess of 25 pct of their capital and to have the bank supervise exposures between 10 and 25 pct of capital were not under debate the paper showed
as of dec 31 1986 there were 26661770 shares of gnn common stock outstanding according to the company
right now there are a lot of companies that keep so many things from their shareholders and one of them is san miguel he said
moodys said the action reflected increased leverage and reduced interest resulting from lower earnings
the offer is not conditioned on receipt of any minimum number of shares boeing said
for those of us who have managed to hold on the worst is over he said
they say malaysia should not be able to benefit from the icco unless it is a member and if the buffer stock bought malaysian cocoa malaysia would have no incentive to join delegates said
the rate cut had been expected since the bank announced a money market intervention tender earlier today
oper net 944 mln vs 741 mln revs 13 bilion vs 12 billion note thl is parent to scoa industries inc acquired in a leveraged buyout in december 1985
talking point first city bancorporation fbt 
after a rise of 18 pct in 1986 the dollar price of internationally traded manufactures will go up by 85 pct in 1987 and by five pct in 1988 it said
motts super markets inc msm 4th qtr jan 3
the sale covering a 20 year period beginning may 1 1989 was previously recommended by the national energy board
mondays board meeting is a regular monthly meeting
the argument over buying non member cocoa is closely linked to the one over differentials for different qualities
dauster said brazils role when the ico meets in london in september will be to support the world coffee pact defend its market share and argue for distribution of quotas to be in the hands of producer countries
sosnoff starts bid for caesars world caw 
french industrial gas group duffour et igon has decided to back the takeover bid by swedish industrial gases group aga ab agast ending a lengthy battle between rival bidders from france spain and west germany duffour et igon chairman jean igon said
pemex will buy 80 mln dlrs worth of foreign equipment and materials for the project he said
burmas paddy production fell to 7294 mln baskets in fiscal year 1986 1987 to end march from 7373 mln in 1985 1986 a cabinet report to parliament said
qtly div 64 cts vs 64 cts prior pay may 15 record april 30
but until then investors are widely expected to remain leery of buying bank paper according to analysts and traders
kanasa city southern said it will make an offer for southern after its books records and properties are examined
unsmoothed figures show a deficit of 162 mln dlrs for january against 107 mln revised from 75 mln for december 1986 and 575 mln in january 1986
we would do well to repeat last years results if the rand stays depressed keys said
anchor financial corp said it has agreed to acquire waccamaw state bank of surfside beach sc in an exchange of 1435 anchor shares for each waccamaw share subject to regulatory and shareholder approvals
but dealers said they fear regulators may insist on an airtight netting agreement that is impossible to design
taiwan issues more certificates of deposit
cooper said the technology in the iranian sales was available elsewhere and that foreign companies would get the iran business if the us export licenses were not approved
worthy but boring would probably sum it up peter fellner uk economist at stockbrokers james capel and co said
us agriculture secretary richard lyng warned the ec yesterday it would face serious retaliation if it enacted the tax
completion of a transaction it one is made is expected by the end of the year the company said
lately both nations have said they will take steps to defuse incipient trade tensions
terms were not released
gold holdings totalled 35243 billion lire at end may unchanged from end april
crazy eddie inc said its board has adopted a defensive shareholder rights plan and said it has received friendly inquiries on its acquisition
it outbidhell bankruptcy trustee said
other projects in this city of 12 mln people include a bridge and an extra tunnel under the huangpu river a new airport and passenger ship terminals and chinas biggest railway station due to open at the end of this year
argentine grain belt weather report
many of the shelters set up throughout the state in areas threatened by flooding except those near the washita and red rivers closed as residents returned to their damaged homes
four of the gcc states saudi arabia the united arab emirates uae kuwait and qatar are members of the organiaation of petroleum exporting countries opec and some face stiff buyer resistance to official opec prices
the non underwritten portion allows the issuance of one year cds as well
in addition sterling has so far shrugged off two half point cuts in uk bank base lending rates in less than two weeks
bankamerica chairman says bank is turning around heading to profitability
it can also finance the plants itself and recover its investment through product sales a strategy iida said could prove popular in the future
blocker energy corp blk year net
wimpey was commenting in a statement on its 1986 results which showed pretax profits up 42 pct to 665 mln stg
mthly div 85 cts vs 92 cts in prior month payable april six record marcxh 30
but the key thing isnt so much what they earn this year
indonesia rejects world bank farm reform proposals
a group led by new york investors david bellet and chester siuda said it lowered its stake in dba systems inc to 100000 shares or 37 pct of the total outstanding from 170000 shares or 63 pct
the notes have a 9 3 4 pct coupon and were priced at 9924 to yield 290 basis points more than comparable treasury paper
venezuelas cabinet approved a new exchange rate for oil and mining export earnings setting it at 1450 bolivars to the dollar from 750 bolivars previously minister manuel azpur ua said
in addition the 60 cent limit can be increased to 90 cents a lb if the first two limited months both make limit moves in the same direction for two consecutive sessions according to the csce announcement
bdm international bdm increases qtrly divs
if the tests had shown abnormal readings they would have been resumed
the sosnoff offer to buy the shares of the company he does not already hold has been valued at 7252 mln dlrs
now they are saying its in line when its at 146
many analysts are skeptical about further gains in the pound on the inference that the bank of england will seek to relieve upward pressure on the currency by pushing down interest rates after the nations budget is released march 17
interest will be paid for the first time on february 2 1988 and on the same date of each subsequent year
the credit line was agreed by a joint economic industrial commission
12 mths 1985 excludes discontinued operations gain 9837000 dlrs or 212 dlrs per share and excludes gain 813000 dlrs or 17 cts per share for net operating loss carryforward
there was no immediate confirmation of the attacks from persian gulf shipping sources
he is an associate of treasury secertary james baker who launched the us strategy for shoring up indebted nations in october 1985 which included a call for increased adjustment lending by the world bank
subroto told reporters afterwards that contract extensions would be selective based on how much capital would be invested
the us presented its case for the first time to the aircraft committee of the general agreement on tariffs and trade gatt during a special two day session ending today
rubber producers and consumers who agreed last week on the central elements of a new international natural rubber pact have started work on the legal drafting of a future accord delegates said
garfinckels net sales for fiscal 1986 were 1119 mln dlrs the company said
kaines confirms white sugar sales to india
japan line officials declined to comment
the conversion price was set at 557p representing a premium of 143 pct over the stocks closing price for the last three business days of 496p
london traders said the asian cocoa was considered unsuitable for western palates because of an acrid odour and a high level of free fatty acids
moore corp said it has no immediate plans to issue preference shares under the proposed resolution
wedge said it believes that some form of restructuring of ami and its business would be highly desirable and appropriate at this time wedge which holds 48 mln shares of ami common stock said it plans to hold further talks with company management pesch and other shareholders
they expressed some hope that the operators would not eventually go through with their plan for intervention sales
emery said the company would still prefer to negotiate with purolator
wainoco said its pool of future canadian tax deductions has been increased by an amount which should generate savings that will exceed existing deferred income tax liability
uk money market gets 350 mln stg afternoon help
cattle futures posted new highs on the chicago mercantile exchange while live hogs rallied from early losses and frozen pork bellies finished sharply lower
the mechanism would provide for this tax to be reduced and possibly to become a subsidy as world soya oil prices rose from present levels
the net effect of the boards recent ruling was to reduce the companys rates by 159 mln dlrs moodys said
bristol myers co bmy 3rd qtr net
oilman has 87 pct of qed exploration qedx 
the city of amsterdam launched a 300 mln guilder commercial paper program in the dutch market lead manager amsterdam rotterdam bank nv said
after the offer southmark will retain about 82 pct of the 11 mln outstanding common shares of national heritage which operates 201 long term nursing care facilities
the department said it is possible that producers could be encouraged to delivery higher quality grain to ccc by adjusting the premiums and discounts
iran had warned the united states earlier in the day against exacerbating the gulf crisis saying military action would endanger american interests
after the provision for loan losses morgans allowance for credit losses at the end of march totaled 953 mln dlrs compared with 910 mln at end 1986 and 815 mln a year earlier
the bass group which holds 249 pct of taft said it had talked with other taft stockholders and some company managers and directors concerning participation in a group to acquire control of the company
icahn obviously regards as contrary to his own personal interests usair said its board has authorized counsel to explore all appropriate legal remedies against what it called twas last minute attempt to interfere with usair groups acquisition of piedmont
citroen part of the private peugeot sa peuppa group increased its share of the french new car market to 137 pct in first two months 1987 from 121 pct a year earlier
according to the merger proposal american video shareholders will receive about 287700 restricted paralax shares and warrants to buy another 318600 restricted shares at six dlrs a share
london sugar freights
fendt said although the february results were lower than the average expected for the rest of the year the governments target of an eight billion dlr surplus for 1987 should be achieved
rebates requested ranged from 12775 to 13250 european currency units a tonne for maize 13600 to 14100 ecus a tonne for barley and 13425 to 14181 ecus for bread wheat while rebates requested for feed wheat were 13765 ecus they said
but even the lowest of those estimates would be 85 to 127 pct greater than last years total of 71 mln tonnes according to official figures and would be a new record
during his news conference conable said the world bank backed us treasury secretary james bakers third world debt initiative which calls for stepped up lending to heavily indebted third world countries adopting economic policies
the trend continued in the first three months of this year as exports dropped by 178 pct in hard currency terms to 2124 billion dlrs
baker intl bko hopes to complete merger
but economists say members such as west germany have so far blocked a second stage of development envisaged by the systems founding fathers ex west german chancellor helmut schmidt and former french president valery giscard destaing
metromedia long distance said it has introduced oneplus wats a telecommunications service for high volume callers
the narrow currency movements of recent weeks strongly suggests the six leading industrial countries have tamed the normally unruly financial markets and next months talks seem likely to build on that stability
total beef consumption in japan is now 700000 to 800000 tonnes per year but seng said with the removal of quotas and a decrease in beef prices consumption could increase to 32 mln tonnes
brazil has a storage capacity of 66 mln tonnes theoretically sufficient for the crop
there were five grain ships loading and three ships were waiting to load at portland according to the portland merchants exchange
the french sugar market intervention board firs raised its estimate of 1986 87 beet sugar production in the 12 member european community to 1376 mln tonnes white equivalent in its end february report from 1374 mln a month earlier
chrysler credit canada ltd is issuing a 75 mln canadian dlr eurobond due aoril 15 1993 with a 9 1 4 pct coupon and priced at 101 1 2 pct orion royal bank ltd said as lead manager
ici sells stake in lister and co
1985 year oper net also excludes a loss of seven mln dlrs for change in inventory evaluation method
terms will be set this week with a conversion premium of 25 to 28 pct
webb investment properties inc dwpao 
this is quite a normal situation
the panamanian bulk carrier juvena is still aground outside tartous syria despite discharging 6400 tons of its 39000 ton cargo of wheat and water has entered the engine room due to a crack in the vessel bottom lloyds shipping intelligence service said
british petroleum plcs plan to pay 74 billion dlrs for less than half of standard oil co has signalled higher values in the us oil patch analysts said
total production in february 28 days was 949000 tonnes compared with a downwardly revised 1038 mln in january 31 days and 920000 in february 1986
the extra credit provided at market rates covers extra costs incurred due to building delays a ubs spokesman said
pharmacontrol corp said it acquired private formulations inc from revco ds inc for six mln dlrs in cash a 13550000 dlr promissory note and warrants to buy 200000 pharmacontrol common shares
the start up is three months ahead of schedule and six mln dlrs under budget the company said
other new deals this morning reflected the recent primary market trend with little activity in dollar denominated issues although the currency sectors were busy
petroleum futures trading at the new york mercantile exchange literally set spot market prices in the us he said adding that some oil products sellers now offer contracts based on a daily average of nymex prices
shr loss 105 dlrs vs profit three cts net loss 4477000 vs profit 107818 revs 109 mln vs 138 mln year shr loss 79 cts vs profit three cts net loss 3364058 vs profit 123880 revs 509 mln vs 572 mln note full name progressive savings and loan association
british and commonwealth shipping said last week it held preliminary talks about a klm minority stake in air uk but gave no further details
france for its part has made a counter claim for more than 500 mln dlrs in compensation for contracts with french firms broken after the 1979 revolution
sumitomo metal sets up london osaka finance firms
i expect whatever is reported by the ways and means committee will pass
iran said several people were injured in mondays us attack on an iranian offshore oil site and vowed retaliation tehran radio reported
mcdonalds corp will be coming to the eurofranc market for the first time with an issue likely to be led by societe generale and a third will be for an unidentified international borrower
in addition usi is presently constructing a 300 mln pound linear low density polyethylene facility scheduled to come on stream in early 1988 at its port author texas plant
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 profit 70 cts vs loss 33 cts net profit 2598000 vs loss 687000 revs 7438000 vs 6467000 note 1986 net includes 2168000 dlrs or 61 cts a share for gain on cancellation of long term debt through a debenture offer
usair said the order was issued in response to its suit charging twa chairman carl icahn and twa violated federal laws and made misleading statements
transamerica ta to buy sedgwick sdwkl unit
paris g 6 meet set no targets leigh pemberton
furthermore by paying back ahead of schedule some of the last loan it raised the philippines will be hoping to make a good impression on the international banking community
in london the us was supported by the uk the netherlands west germany japan australia and new zealand on the issue of objective criteria us officials said
analysts speculated that all of shearson would have a market value of about 35 billion dlrs
levon resources reports improved gold assays
the ec oils measure offered by sen
but the two countries are likely to have less to agree on over the issue of trade where chirac is worried about a rise in protectionism in the us congress
we took action as we became aware that the issues structure had changed said robert nelson of s and p
the spokesman said korean trade minister rha woong baes stand in washington yesterday against pressure from industrial nations to revalue the won underlined the governments determination to stand firm
spain cargo firms hire dockers to offset strike
qtly div 27 1 2 cts vs 27 1 2 cts prior pay may one record april 17
if the loan is approved over us objections the united states would not increase or replenish funds for that institution until it agrees to stop making such loans
heating oil prices rose 30 pct in february after a 180 pct rise in january the department said
the finance ministry is trying to eliminate technical obstacles so as to encourage purchases of japanese treasury bills by foreign governments and central banks in order to increase overseas holdings of yen assets a senior finance ministry official said
gencorp gy says buyback better than takeover
the prime minister expressed his concern over the possible consequences of increased tension in the gulf at the same time recognizing the limited character of the american military reaction to the attacks it has suffered in the past few days the statement said
in a speech to shareholders leutwiler said a gradually rising rate for the mark in relation to the franc would be desirable from the standpoint of industrial exports and with regard to sustaining swiss industry simply an appropriate declaration of intent by our bank of issue swiss national bank could have a positive effect he said
ibm australia credit issues aus dlr eurobond
australian exports helping to boost gdp
banca cattolica del veneto spa said it had signed an accord with manufacturers hanover trust co of new york covering a 100 mln dlr certificates of deposit issue in london
only britain and the netherlands had shown willingness to accept the commissions overall package they said
larives second offer to acquire it because the bid was inadeuqate and subject to too many contingencies
moderate to heavy rains in southern jiangsu anhui eastern hebei hunan jiangxi fujian and zheziang reversed februarys below normal precipitation pattern
payment date will be april 6
guinness to sell retail interests
finance minister gustavo petricioli said he had signed yesterday a 250 mln dlr loan with the world bank to support the development of exports of manufactured goods
bolt beranek bbn files for debenture offering
world bank loans mexico 400 mln dlrs
hyponex hypx debt downgraded by s p
gates corp which owns 648 pct of gates learjet agreed earlier this week to sell its shares to a partnership formed by privately held cobey corp and a unit of bear stearns cos inc bsc for 650 dlrs a share or 51 mln dlrs
algerian and spanish producers which together meet 40 pct of the western markets needs in quicksilver have agreed to apply a minimum selling price of 300 dlrs per unit the algerian news agency aps said
general cinema corp said lower attendence at its theatres against last years record christmas season lowered its first fiscal quarter operating earnings nine pct to 159 mln dlrs
cummins engine co said it told shareholders higher engine orders to the north american heavy duty truck market will result in improved earnings in the first quarter
the bank has not provided any assistance to the market so far today but earlier invited the discount houses to use their borrowing facilities at 1430 gmt today and set the terms at 10 pct for 14 days
dateline technology designs and sells high capacity high speed computer peripheral subsystems primarily for data storage applied data said
total petroleum tpn shuts texas pipelines
the plans form part of an on going campaign to reform surplus creating farm policies that have become a political embarrassment at home and commercial flash point abroad and threatened to leave the community with no cash for other areas
he said the two firms will form a marketing company in japan as early as next year although details of the joint venture are not yet fixed
work on the project could begin as early as january 1988 a shell spokesman said
the average yen dollar rate used for the statistics was 15367 yen against 18123 a year earlier
jude medical inc said its board declared a special dividend of one right for each outstanding share held of the companys common stock payable to holders of record april six
fed expected to set customer repurchases
soviet union seen watching china gatt application
manufacturers hanover mhc raises prime rate
a novacor official later said in reply to an inquiry that the new prices effective april 1 would range from 31 us cts a pound to about 38 cts
as far as south africa is concerned it looks like very good news one source said
disbursements would be for 12 years with seven years grace
but economists say members such as west germany have so far blocked a second stage of development envisaged by the systems founding fathers ex west german chancellor helmut schmidt and former french president valery giscard destaing
high end computers primarily the sierra line are coming to the end of their product life cycle
light crudes are overpriced relative to heavy crudes asked if the issue of differentials would be raised at the next opec meeting to be held in vienna on december 9 ali said if my crudes are affected i will raise the issue i will not do the work of another minister kuwaits own crudes range from medium to heavy grades
dealers said demand rose owing to the bonds relatively small size
private bankers said they are awaiting a central bank decision on whether to allow commercial banks to continue holding up to 40 pct of their capital in foreign exchange or to return it to 20 pct as scheduled
dutch members of parliament said they could do little to help resolve the dispute over redundancies in rotterdam ports general cargo sector and urged the union and employers to sort out their differences themselves
the us agriculture departments economic research service recently published a study of farm subsidies in an attempt to verify the oecd results and update them to 1982 84
pig cash settlement futures saw 201 contracts traded against 19 in january and the value rose to 659864 stg from 119610 stg
shearsons book value is in the 14 mln dlr range
lsb industries inc said it agreed to acquire northwest federal savings and loan association for 1500000 dlrs
another participant in the meeting who asked not to be identified said lyng was unresponsive to the groups request
hecks inc hex 4th qtr jan three net
jannock ltd said it acquired a 50 pct interest in intercon security ltd for five mln dlrs and intercon founders brian legge and richard grange will hold the remaining 50 pct and will continue to manage the company
moodys downgrades loral lor debt
stoltenberg noted the government expected imports to rise by a real four to five pct in 1987 with exports stagnating
estimates for total sorghum production this harvest remained at 32 to 35 mln tonnes again this week or 167 to 22 pct lower than last harvests total volume of 41 to 42 mln tonnes
qtly div 50 cts vs 50 cts prior pay may 15 record april seven note partnership said holders of common and preference units for all of 1987 are expected to have no net taxable income
finance minister edouard balladur previously ruled out a reflationary program
the commercial bank rescheduling has yet to be finalised because of the reluctance of japanese banks to participate in the agreement despite a recent trip to japan by senior nigerian officials and representatives of the steering committee
motel 6 lp six sets cash distribution
confronted by new hostilities involving us forces in the gulf the us senate voted to end republican stalling tactics and limit debate on a measure that could give congress a larger role in gulf policy
izvestia says soviet winter crops need reseeding
there is a 1 1 2 pct selling concession and a one pct combined management and underwriting fee
asked about press reports that ferruzzi might follow up the european sugar flotation with the sale of 49 pct of the cpc business gardini said we do not exclude having minority partners in the cpc business he declined to elaborate
china development finance co hk ltd a bank of china unit is lead manager of the issue
he said the process of structural adjustment of the turkish economy to free market policies begun in 1980 was still under way
business loans on the books of major us banks excluding acceptances fell 618 mln dlrs to 27888 billion dlrs in the week ended february 25 the federal reserve board said
if the ico does agree on quotas the price of coffee on the supermarket shelf is not likely to change sinnificantly as a result industry sources said
the company said the first quarter will be adversely affected by the consolidation effort
becor western gets offer to be acquired by new group for 1550 dlrs share
shr 66 cts vs 57 cts net 200 mln vs 171 mln avg shrs 303 mln vs 300 mln
florida employers insurance co flae year 1986
carolian systems sees lower fiscal 1987 profit
last october lucky stores implimented a restructuring program that included the repurchase of 28 pct of its own common shares and reincorporation in delaware
main destinations for refrigerated beef bone in equivalent were as follows in tonnes with comparative figures for 1986 in brackets ec 5500 7900 brazil 5200 unavailable israel 3700 3000 peru 2500 800 singapore 500 300 switzerland 500 400 canary islands 500 300 malta 500 700 aruba curazao 200 300 chile 100 600 main destinations for canned meat and cooked beef bone in equivalent in tonnes with comparative figures for jan feb 1986 in brackets were united states 11200 13400 ec 4700 5100
ongpin said steps planned to provide a sound revenue base included a value added tax vat system due to be introduced in 1988
fisons plc fisnl year to end 1986
the lenders are mitsubishi bank ltd and another japanese financial institution which the spokesman declined to name
the rate for raws is based on 92 pct yield
moodys investors service inc said it upgraded valero energy corps 120 mln dlrs of debt
netback values for crude oil refined in northern europe rose substantially following strong gains in gasoline prices there
a national bank spokesman said the modest cut was made after a decline in domestic money market rates yesterday and was not expected to be followed by a cut in the 760 pct discount rate
the company said it would bid for all stock it or its affiliates do not already own
until the initial stock distribution takes place regular dividend payments will be maintained on the existing preferred shares the bank said
the failure of talks to introduce new coffee export quotas within the international coffee agreement ica was preferable to the alternative of brazil having a sharply reduced quota as had been proposed president of the rio de janeiro coffee trade association carlos calmon said
still to be divested are the process machinery division with sales of 137 mln dlrs and mathews conveyer co with sales of 83 mln dlrs
the governments banking adviser for the operation was banque privee de gestion financiere bpgf owned by french financier pierre moussas pallas group assisted by britains hambros bank ltd
window for bank aid in kuwait remains shut
shr loss 122 dlrs vs profit 27 cts net loss 8812432 vs profit 1847560 revs 7981198 vs 103 mln avg shrs 7187941 vs 6828368 note current year includes tax credit of 800000 dlrs
bayou is 552 pct owned by australia wide industries ltd
theres absolutely no timetable
planters corp pnbt 1st qtr net
wickes companies wix completes sale of unit
soyabeans were the main component with imports rising to 282 mln tonnes actual weight from 275 mln
canadian roxy petroleum ltd year net
the bank of japan was thought to have bought a small amount of dollars at around 14930 40 yen dealers said
emulex corp emlxo 1st qtr sept 27 net
nobel and financiere robur are issuing french franc domestic bonds with share warrants according to announcements in the official bulletin balo nobel is issuing a 200 mln franc 10 year bond with a 55 pct coupon in 1000 franc denominations to which existing shareholders will have subscription rights in the ratio of one bond for every 120 shares held with a nominal 10 franc value
itel said the banks it obtained commitments from include manufacturers hanover trust co mhc chemical bank of new ltyork and the first national bank of chicago
de kock interviewed on state run television gave no breakdown of the reserves
gunze sangyo inc of tokyo is issuing 25 mln swiss francs of five year convertible notes with a 1 1 2 pct coupon lead manager swiss volksbank said
fieldcrest cannon fld to sell convertible debt
thai m 1 money supply rises in january
travelers mortgage services inc a unit of travelers corp is issuing nearly 752 mln dlrs of mortgage pass through certificates said sole manager morgan stanely and co inc
canadian natural resources to sell stake
gordon capital corp and dominion securities inc agreed to acquire the issues it said
qtly div 12 1 2 cts vs 12 1 2 cts prior pay april one record march 13
bat industries 1986 pretax profit 139 billion stg vs 117 billion
emanuel said ecuador was seeking soft loans from multilateral organisations for reconstruction work
the white house economic policy council is expected to discuss possible sanctions against japan at a meeting scheduled for thursday
average interest rates on yen certificates of deposit cd fell to 427 pct in the week ended february 25 from 432 pct the previous week the bank of japan said
schmidt chiari said that foreign lending business had fallen significantly due to exchange rate fluctuations removing some 22 billion schillings from the balance sheet total
in a filing with the securities and exchange commission the group said it bought 43600 tandy common shares between may 21 and june 9 for 633333 dlrs in addition to the 132300 shares or 52 pct it had held previously
healthy growth of yen bond futures markets depends basically on substantial liquidity in cash yen bond markets overseas and on the yen becoming attractive to traders there dealers said
this could further boost demand for eurosterling bonds as long as yield margins remain attractive in relation to gilts often the case with newer if not with more seasoned issues
the vote came as a stoppage by seamen entered its third week and as 55000 oil workers threatened action against the state owned petroleum company petrobras
cleopatra kohlique inc cleoo year net
however end investors were seen bargain hunting in expectation of a further yen interest rate decline dealers said
the bank of japan bought a modest amount of dollars this morning possibly around 200 to 300 mln dealers said
intervention barley sales have reached just over 10 mln tonnes leaving about 753000 tonnes traders said
kennametal inc kmt 1st qtr sept 30 net
rostenkowski says he will oppose protectionist trade bill in us house
according to the companies this would amount to about 4750 dlrs per uccel share based on may 29 new york stock exchange closing prices
but on jan 28 1987 westinghouse withdrew from the deal because the fcc would not approve it
mees put saudi arabian output at 29 mln bpd in the first week of march and 31 mln bpd in the second in addition to output from the neutral zone between saudi arabia and kuwait
dor val mines ltd finds high grade order
micro mask inc nmso 2nd qtr mar 31 oper loss
shr 33 cts vs not given net 642484 vs 362883 note company went public in october 1986
currency analysts believe the paris agreement set secret short term target ranges for their currencies with a specific agreement to defend those bands with intervention
the issues pays a coupon of one pct in years one and two and then pays a coupon of 7 7 8 pct in years three four and five
brazilian coffee institute ibc president jorio dauster said he will attend a meeting in managua this weekend
the non callable bond is available in denominations of 1000 australian dlrs and will be listed in london
however the company reported net income declined to 17 mln dlrs or 77 cts a share in the quarter ended february 28 from 19 mln dlrs or 84 cts a year earlier
wall street analysts said the merger accord between fleet and albany ny based norstar demonstrates the rapid pace of interstate banking mergers since state legislatures begain permitting regional mergers on a reciprocal basis
backlog 310 mln dlrs up six pct from a year before
the spokesman said that if the agreement is renewed bolivia can expect a further 60 mln dlr stand by loan over the next 12 months
marsh and mclennan cos inc mmc sets quarterly
dome owns or has an interest in a total of 361 mln acres of land across canada
mills noted however that interest rate differentials between canadian securities and us securities have narrowed dramatically recently with yields on 10 year canadian bonds only about 80 basis points above us 10 year notes
the local dollar dropped to 05940 50 us dlrs in after hours trading against 05970 77 just before the budget release
they say it is blurred by the poor performance of polands economy and dismiss the 15 billion dlr figure as illusory
it set a lira d mark rate of 42830 43044 to the mark up from 42915 43130
but this is the first international aid package for trc which also carries cargo for uganda zaire and burundi
but the sources said it is understood the action is not a sell recommendation
dow chemical co said it increased prices by nine cts a pound solids for styrene butadiene latex and plastic pigments effective may one
innovex inc said it has completed the purchase of substantially of the interest in lucht engineering inc that it did not already own
the non binding senate resolution a sense of senate sentiment was approved on a 99 to 0 vote
all areas must spare no effort to raise the autumn harvest area especially of corn sweet potatoes paddy rice and high yield cash crops it said
harcourts may 26 announcement said the conversion price would be adjusted according to the indenture covering the securities
latin american sugar producers are awaiting further rises in world market prices before moving to boost production official and trade sources said
kraft said research and development expenditures rose 12 pct in 1986 to 667 mln dlrs and a greater increase in seen in 1987
business editor theodore cross offers 34 dlrs share for harper and row
de croo said at a news conference if you limit textile imports you will re orient textiles to europe and that he said would trigger ec taxes on us goods
the statement said the ibc is sending a document to the national monetary council asking the government to set a budget for the purchase by the institute of up to five mln bags of coffee until june 30
they said that if the fed does act it will likely add temporary reserves indirectly by arranging one to 15 billion dlrs of customer repurchase agreements
we were not accustomed to receive so much work said hegewisch who is responsible for foreign investment in mexico
the real issue is the rescheduling of debt terms
while they may buy more american physicians shares the koethers also said they may decide to sell some or all of the their stake in the company
no action has been taken yet on the reagan adminstrations offer to escort kuwaiti oil tankers through the gulf but the issue is being discussed us secretary of defence caspar weinberger said
icco buffer to buy 3000 tonnes cocoa june 3
among the corporate headquarters lost during the period were crown zellerbach memorex southern pacific castle amp cooke and rolm
investors have been stuck with billions of dollars of notes on their books that no one else will buy
period ended december 31
contract terms for trade in coconut oil are to be changed from long tons to tonnes with effect from the aug sep contract onwards dutch vegetable oil traders said
we simply arent prepared to continue to accept the imbalance which has been the position for such a long time post and telecommunications ministry officials were unable to comment on howards meeting with their minister
mexicos proven reserves of liquid hydrocarbons at end 1986 were 70 billion barrels slightly down from 709 billion a year ago and 7175 billion in 1984 the state oil company petroleos mexicanos pemex announced
first american fiama sees gain from sale
overall these are significant gains for the new zealand economy and if they continue to be improved upon bode well for future prospects
inco ltd said it did not expect its earlier reported removal from the dow jones industrial index to make a major impact on the companys stock
dennis d
buyers have little incentive to renew contracts to lift oil at official opec prices while spot prices on all grades are considerably lower oil traders said
trade sees us corn exports up wheat beans off
primebank federal savings bank said its board declared a 10 pct stock dividend to be distributed about april 15 to holders or record march 31
a finance ministry spokesman said lower interest rates were needed but denied any suggestion of conflicting views between the ministry and the central bank
the renison goldfields consolidated ltd rgfjs rgc mt lyell copper mine in tasmania will stay open for an extra five years following a new aid package from the state government rgc said in a statement
xerox xrx affiliate to sell safrican unit
the 25 nation latin american economic system sela has presented a document calling for a new strategy to cope with latin americas crushing debt and faltering growth
the study was outlined in a new york times report today
it would have no impact on earnings whatsoever he said
bresser pereira will use the plan as the basis for negotiations with creditors next month in an attempt to reschedule the countrys 111 billion dollar debt
they said traders expected riyal deposits to follow the recent strong rise in eurodollar rates sparked by fears of a tighter us monetary policy to halt the dollars slide
kay jewelers inc kji 4th qtr net
the pricing behavior of american producers in response to price increases of their foreign competitors will be crucial for our economic future he said
a strong performance by its retail businesses and affiliates will enable jardine matheson holdings ltd jardhkg to report on friday a big leap in net profit in 1986 stock analysts said
brazil has so far been unwilling to accept any proposal that would reduce its quota share delegates said
fmd inc said it has agreed to acquire bankers protective financial corp for 28836000 common shares subject to approval by the texas state board of insurance
vista chemical co said it expects earnings for the year ending september 30 to be up substantially but extensive planned downtime at two of its plants is expected to affect third quarter results
bank reaction to iraqs rescheduling request has been one of resignation with many bankers seeing little alternative for baghdads economic planners
producers and consumers could not find common ground on the issue of quota distribution in eight days of arduous often heated talks delegates said
uk money market offered early assistance
the solution is linked with growth not recession he said noting an imf program would involve promoting exports and inducing an internal recession in order to service debt
ivey properties inc raises quarterly dividend
mitsubishi motors australia makes 19 mln dlr loss
insider trading is currently not an offence in this country
japan is also not totally happy with the administrations trade bill particularly its proposal to establish reciprocal access to foreign markets as one criteria for retaliatory trade action by the us officials said
trans world airlines makes 52 dlr share cash merger proposal for usair
the debentures have an 8 5 8 pct coupon and were priced at 98675 to yield 115 basis points over the off the run 9 1 4 pct treasury bonds of 2016
rosenbaum said the united states will be flexible in discussing the method of establishing objective criteria and any transition to new quotas but not on the basic aim of establishing an objective method of setting quotas
after expanding in the early 1980s ugandas economy has suffered setbacks since 1984 of falling industrial and agricultural output and accelerating inflation the fund said
insee said that the fall was due to a sharp decline in purchases of clothing which were high in january due to the cold weather
fairchild industries inc 4th qtr oper shr loss 44 cts vs loss eight cts
representatives of all the futures markets on the baltic exchange have been discussing the possibility of a single rie structure since the beginning of the year
xuto said the way is now cleared for drafting a new accord to replace the current one which expires in october
it said the rights may be redeemed by the company for one ct per right at any time prior to 10 days following a public announcement that a 20 pct position has been acquired
in early tokyo trade levels were firm at 1730 dlrs for mideast dubai cargoes loading next month and 1900 dlrs for uk brent traders said
the borrowing programme for 1987 is well within the capacity of the domestic financial markets without pressure being placed on interest rates the corporation said
information minister marco lara told reporters the number of dead and injured is not known because we do not know how many people lived in the homes hit by the landslides bracho said at least 15000 were left homeless in the cayambe district
including forward deals total deliverable volume was 2701 billion dlrs a day 1343 billion against the australian dollar against 1956 billion 848 billion in december and 992 billion 588 billion a year earlier the bank said
tokai international ltd is other joint book runner
1987 extraordinary item of 701 mln dlrs relates to award from iran us claims tribunal from irans seizure of sedco inc drilling business in 1979 prior to its acquisition by schlumberger
boeing began its 37 dlr per share cash tender offer for the defense electronics firm on june two
cocoa producers european community ec consumers and all consumers separately reviewed technical details of a buffer stock rules package distributed yesterday
japan currently restricts imports of 22 agricultural products
it is a lot more than nothing
sixty pct of the debt will be repaid in monthly instalments over seven years at 1 4 point over bahrain interbank offered rates bibor the remaining 40 pct is only to be paid after completion of the first tranche also at 1 4 over bibor
demand for opec crude in the final quarter of 1987 was 185 mln barrels per day bpd and the groups members were now pumping above 18 mln bpd he told a news conference
the economic situation has deteriorated in recent months and slow growth high unemployment and large payments imbalances are likely to persist it said in one of its gloomiest reviews of the world economy in recent years
the merger is subject to gghfs receiving financing for the plan datron said
uk continent coastal movements declined sharply to 291 mln tons from 477 mln but those from the uk continent to the us rose to 199 mln from 169 mln
prior to the completion of the recent exploration program gordex estimated the cape spencer deposit had 200000 tons
shr loss 76 cts vs loss 21 cts net loss 319 mln vs loss 3288000 revs 3802 mln vs 3115 mln avg shrs 471 mln vs 412 mln year shr profit 56 cts vs profit 56 cts net profit 43925000 vs profit 46433000 rev 174 billion vs 160 billion avg shares 43602000 vs 41014000 note fourth quarter includes after tax loss from discontinued flexi van operations of 339 mln dlrs
security pacific announced its intention to merge with diablo bank headquartered in danville calif in september 1986 as part of its plan to expand its retail network in northern california
trade bill to change agriculture trade laws
proposed government regulations to allow canadian banks trusts insurance and securities dealers full participation in one anothers actitivies will mean more domestic competition for royal trust but not drastically more cornelissen said
for 1986 it earned 170 mln dlrs or 101 dlrs a share on sales of 1415 mln dlrs
interco is a manufacturer and retailer of consumer products and services
but he added that the last central bank council meeting on april 2 had discussed the economic situation with a mood of subdued optimism particularly influenced by the news brought by several state central bank presidents
the company reported net income of 503 mln dlrs on sales of 8991 mln dlrs for 1986
the unit becomes the holder of 200 mln dlrs of westpac floating rate notes
javett principal officer of zico and first fidelity bancorps ffb first fidelity bank unit the depositary for zicos offer
ccc accepts bids on bonus wheat to algeria usda
september t bonds are up almost six points since about may 18 merrill lynch debt analyst jim duggan noted
the court of appeal hearings include action between brokers and cases by brokers and banks against the itc and the member governments of the tin council
baker has also opposed the legislation which will be wrapped into a major trade bill for consideration in the house in late april
out of this traders in the uk received 43500 tonnes in the netherlands 12000 in denmark 4000 and in west germany 1000 tonnes
it had called for substantial new commercial bank lending and development bank aid in order to help debtor countries grow out of their economic troubles
poehl says chances for exchange rate stability are good
sela presented the document to a week long conference of latin american financial and economic experts meeting to lay the groundwork for this years annual meeting of the united nations conference on trade and development unctad sela called for new efforts to break the vicious circle of debt stagnation and productive retrogression the region has been immersed in since the beginning of the decade the alterantives to existing approaches for dealing with the regions crushing foreign debt must include greater concessions from creditors according to sela
subject to shareholder approval at a meeting on april 22 a further 75 mln dlrs in convertible bonds would be subscribed by bell group chairman robert holmes a court it said
the new york mercantile exchange expects to submit a propane futures contract for federal regulatory approval within a few days according to an exchange spokeswoman
the company which gave no 1986 profit figures posted a domestic group net profit of 41 mln marks in 1985
price co pclb 2nd qtr march 15 net
agricultural exports are to be increased by 180 mln dlrs or 48 pct per year on average
progas ltd was issued an export licence to sell 103 billion cubic meters of natural gas to ocean state power co of burrillville rhode island the federal energy department said
the average yield on the six month bills was the highest since 613 pct on june 23 1986
leading economists call for more growth abroad
but the defense department also said today that weinberger and baldrige differed on the proposed sale of us computer equipment to iran
de la serre said the bank was likely to attract at least the same number of investors as sogenal another recently privatised bank in which 850000 people bought shares
us agencies disagree over iran computer sales
put on your helmets giordano said
s p upgrades georgia pacific corps 11 billion dlrs of debt
period ended january 31
midivest inc said it acquired all the assets of business aviation inc of sioux falls sd for an undisclosed amount of stock
the ghana cocoa board said it purchased 214 tonnes of cocoa in the 24th week ended march 19 of the 1986 87 main crop season compared with 456 tonnes the previous week and 372 tonnes in the 24th week ended march 27 of the 1985 86 season
shr loss nine cts vs loss 192 dlrs net loss 950000 vs loss 21334000 revs 580000 vs 222 mln nine mths shr loss six cts vs loss 123 dlrs net loss 694000 vs loss 13710000 revs 5129000 vs 1119 mln note current qtr includes tax loss of 118000 vs loss of 476000 dlrs
year on year growth was thus about two pct
in a filing with the securities and exchange commission parsow said it had bought all its 220000 orange co shares in the open market with funds from its working capital
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
lmfe to concentrate on cash settled contracts
a reagan administration official said the paris agreement last month was the main reason markets were calm
it is near completion in cordoba and santa fe and will begin in la pampa and southern buenos aires later in april
at present we do not have a forecast for the unemployment rate this year but it is difficult to foresee the situation improving a labour ministry official said
these are now being quoted between 125 and 175 dlrs a tonne per day depending on shipment and destination against recent fixings below 12 dlrs a tonne
the idea of rating in japan has been woven into prerequisites for an issuer company to satisfy financial criteria jcras watanabe said
lazo said the 20 pct stock dividend payable on october 15 would also apply to stockholders on record as of september 15
republic said it is offering to acquire its stock at a rate of 1750 dlrs principal amount of debentures per common share
it has a debt of more than 2 billion dlrs
the company said the dividend is in addition to the ten cts per share dividend paid january 2 1987 making the post stock split annual dividend eight cts per share
fairfax said it is too early to predict results for the full year
the pound also was boosted by suggestions of an improving uk economy anticipation of a popular british budget on march 17 and public opinion polls showing good chances for the incumbent conservative party in any general election
however oecd officials said the measures will significantly strengthen domestic demand quite possibly exceeding one pct gnp when the full effects have worked through and thus will provide some stimulus to imports
shr loss 18 cts vs loss 89 cts net profit 161000 vs loss 5938000 assets 343 billion vs 346 billion deposits 268 billion vs 267 billion loans 145 billion vs 164 billion note shr data after payment of preferred dividends
its too late lyng told the national grain and feed association convention here
we hope that the dispute on this specific issue wont have an adverse effect on our overall relationship with the united states a ministry of international trade and industry miti official said
shr 118 dlrs vs 115 dlrs net 197 mln vs 193 mln assets 1005 billion vs 962 billion deposits 856 billion vs 804 billion net loans 695 billion vs 671 billion
assets of money market mutual funds rose 139 billion dlrs in latest week to 23677 billion
consensus seen on tin pact extension
the bundesbank said west german public authorities borrowed a large 219 billion marks in credit markets in the 1986 final quarter compared with 148 billion in fourth quarter 1985
it said to date it has been unable to restructure its obligations to the bank and is now evaluating its options
chinese chemical plant to issue domestic bond
crazy eddie crzy may make acquisition
the 13th annual top level meeting of the major industrial democracies will take place against a backdrop of rising congressional concern over reagans plan to protect gulf shipping and demands that the allies do more
the asian development bank adb said it had approved two loans amounting to 757 mln dollars for agricultural projects in bangladesh and nepal
the sources said the proposal was made in a bid to break a deadlock with the banks who were insisting on a minimum interest spread of one full percentage point over libor
continentals 10 year notes were assigned an 11 1 2 pct coupon and priced at par
citicorp had suggested yesterday that dixons extend its tender until march 31 in connection with the price increase
qtr ends jan 31 shr seven cts vs 20 net 184000 vs 387000 revs 91 mln vs 67 mln avg shrs 2804752 vs 1875000 12 mths shr 13 cts vs 33 cts net 315000 vs 627000 revs 324 mln vs 246 mln avg shrs 2475943 vs 1875000
traders said the destocking has come about as a result of a so called buyers strike which kept refiners from buying officially priced opec oil in an effort to get the organization to offer discounts to the official price
transco said it filed a revised settlement proposal which would permit it to become an open access transporter while restructuring gas sales services
i will work to reach that solution he said in the interview conducted in paris
the magazine group had revenues of eight mln dlrs last year and employs 50 people telemedia said
he said the extra funds available to greece this year will go towards servicing debts falling due after 1990
toyota motor credit corp is issuing a 23 billion yen eurobond due april 10 1992 paying 4 1 2 pct and priced at 101 1 2 pct lead manager nomura international ltd said
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
a joint venture opens up the potential for penetrating markets that would not otherwise be possible for china victoria state treasurer rob jolly said
monetary compensatory amounts mcas will be unchanged for the week starting april 6 ec commission officials said
mthly div 65 cts vs 65 cts prior pay april 30 reord april 15 note franklin massachusetts insured tax free income fund
agip carbone and atlantic richfield coal an arco subsidiary have formed a consortium which will own 48 pct of the carbozulia project whose total cost is estimated at 500 mln dlrs the company said
thus you can have lower rates and also a normalisation of monetary growth both at the same time he added
the official refused to comment however on whether the agreement included a secret pact to consider further coordinated interest rate cuts a measure industrial nations have taken jointly several times in the past year
today it was off 1 4
beghin say says sugar offer to ec still stands
in testimony before a senate banking subcommittee volcker said he does not have any specific proposals for improving exchange rate stability but thought it was worthy goal
asked to comment on remarks by some us officials calling for a further decline of the dollar miyazawa said only the us president and the us treasury secretary can make official statements about exchange rates
however the official said the us had been assured that almost all the exports would be reserved for its traders
us payments gap to persist ex fed chief says
peru registered a 16 mln dlr trade deficit in 1986 its first trade shortfall in four years a central bank statement said
ec industrial production growth halts in january
the magnitude of the damages caused by the earthquake is gigantic president leon febres cordero said after inspecting the damages in napo the hardest hit jungle province 100 miles from here
the fall is a technical and emotional reaction to the failure to agree on reintroduction of ico export quotas but it will not be long before reality reasserts itself and prices rise again a spokesman for one of the major dutch roasters said
qtly div 10 cts vs 10 cts prior pay april six record march 16
prices for nearby shipment thai sugars have tightened considerably recently due to good far eastern demand possibly for sales to the soviet union or to pre empt any large block enquiries by china they said
ergenc told the news conference the alert followed a government decision that turkey should protect its interests because of measures greece has been taking in the aegean in violation of international agreements asked how turkey would react if greece attacked any of the vessels he said if there is an attack it is clear what has to be done
net proceeds will be used for working capital the company said
lilly said it will buy shares of stock from time to time in the open market at prevailing prices or in privately negotiated transactions
no action should be ruled out import fees or quotas floor prices tax incentives or other alternatives while a national dialogue on the issue continues dibona said at a paper institute conference in new york today
shr 103 dlrs vs 88 cts net 595 mln vs 519 mln revs 6417 mln vs 5578 mln avg shrs 574 mln vs 590 mln nine mths shr 251 dlrs vs 214 dlrs net 1452 mln vs 1264 mln revs 171 billion vs 147 billion avg shrs 578 mln vs 590 mln note 1986 figures restated to reflected change in accounting methods related to pension expenses
french soft wheat exports to other european community countries fell 18 pct to 413 mln tonnes in the first seven months of the 1986 87 season to january compared with 504 mln in the same 1985 86 period the french cereals intervention office onic said
sanwa banks plan forecasts that securities and international operations will contribute 40 pct of total operating profits by the end of the fiscal year ending march 1990 compared with 30 pct in fiscal 1985 the sanwa official said
franklin puerto rico sets monthly payout
the bank this morning finally signalled it was prepared to see lower rates and uk clearing banks this afternoon announced cuts in their base lending rates to 105 pct from 11 pct
shr 15 cts vs 18 cts net 4500000 vs 5300000 revs 1567 mln vs 1520 mln year shr 72 cts vs 111 dlrs net 217 mln vs 330 mln revs 6954 mln vs 6535 mln note shr profit relates to class b non voting shares
bsn corp said it holds less than five pct of macgregor sporting goods
aegon said incidental negative influences on net profits were slightly higher being the lower dollar rate high initial costs for new products and the cost of new headquarters in the hague
du plessis said 34 banks holding more than 70 pct of the frozen debt agreed to the new arrangement worked out with south african negotiators in london
economies on development costs for the tern and eider north sea fields which were approved last year have brought the cost down to 30 to 35 pct below the original budget
the spokesman said that possibility had been evaluated by ferruzzi but that the companys attention at the moment was decisively in another direction the spokesman responding to a report in the italian economic daily il sole 24 ore that ferruzzi was considering a possible bid for the cpc plants told his company hoped to conclude the talks currently underway in a couple of months
an overwhelming majority of hughes tool co shareholders approved a merger agreement with baker international corp based on revised terms that allow the companies additional time to sell a drilling bit business as required by the us justice department
the payment date is march 31
lebanons bankers association said it extended its suspension of trading in the lebanese pound for two more working days to study ways to stem the currencys collapse
in its 1986 yearend financial statement southwestern bell listed a debt to equity ratio of 434 pct down slightly from 437 pct in 1985
but vernes said he hoped that in the next few weeks a final agreement would be reached with the commission which would allow operators to withdraw the sugar from intervention
it said it has the non cumulative option to retire an additional 25000 shares on any sinking fund payment date
harper and row gets bid from harcourt brace jovanovich for 50 dlrs shr
inspiration consolidated copper co a subsidiary of inspiration resources corp said it is lowering its base price for full plate copper cathodes one half cent to 6650 cents a lb effective immediately
they must be given the opportunity to trade their way to prosperity few detials have been released on the trade talks which were launched nearly two years ago between the two nations that are each others most important trading partners
the paperboard and packaging producer said the debt consists of the entire outstanding principal amount of its 6 3 4 pct convertible subordinated debentures due april 15 2011 and all of its outstanding series c cumulative convertible exchangeable preferred shares both issued in the principal amount of 100 mln dlrs each
us producer energy prices rise in february
in its most recent year the company had revenues of about 15 mln dlrs
brazil today suggested to its foreign bank creditors an extension of short term credit lines for 60 days until may 31 a spokesman for the central bank said
producers the european community ec and consumers are scheduled to consider the paper separately and then jointly tomorrow
earlier today cable shares firmed on market speculation that the dispute which is being treated by britains government as a test case of how open the japanese telecommunications market is was near settlement
market participants here expect a clearing organisation to be set up by the time they have substantial deliverable cash issues making overseas listings probable in the latter half of 1987
oil prices are denominated throughout the world in dollars so as the currency declines producers receive less money for their oil
he said an estimated 15 billion yuan worth of grain was hit by mildew or rot in state granaries every year and a further 15 mln tonnes was eaten annually by rats
monetary sources said the us proposal envisages using the indicators to make policy coordination agreements like the paris accord more binding
argentine oil production down in january 1987
the 22 mln barrels shipment will be made by the saudis on march 24 as scheduled the statement said
rubibira said the government is planning to build new silos in the main maize producing areas of iringa mbeya ruvuma and rukwa
it said the country reached self sufficiency in maize three years ago and harvested a record 530000 tonnes in 1985 compared with only 200000 tonnes 20 years earlier
memory protection devices said it received a senior loan commitment letter as well as the requisite waiver under the new jersey environmental control reclamation act both of which are necessary to complete the acquisition
bausch and lomb bol he said was the industry leader
biffex members to ballot on merger
pickens has a plateful already with his holdings in burlington northern and amerada hess he said
odyssey filmpartners odyy drops merger talks
energy secretary john herrington said in a statement that although we have made gains in energy security in the last six years this report shows that there is justification for national concern both over declining competitiveness of our domestic oil and gas industry and over rising oil imports the report said imports last year were 33 pct of us consumption and by the mid 1990s could rise to 50 pct
if australia wants wheat to continue as a major export income earner governments and government authorities will need to closely examine ways of contributing to the continuing viability of the wheat industry he added
the bonds will be sold in denominations of 5000 and 10000 dlrs and listed in luxembourg
us regulations will change in the near future and if so we can do various things
diaz said the pcgg did not plan to remove smc president andres soriano from his family company
the report dated april 7 said the wheat must be from 1986 and 1987 harvest and imports of soft wheat from europe and from other suppliers will not be considered
the february increase in the overall energy costs including petroleum coal and natural gas followed a 02 pct drop in december and a 30 pct rise in january it said
avaq said it offered pusuant to gates guidelines six dlrs per share plus the purchase of gates corps promisary note for 23 mln dlrs
economists expect a rebound from januarys depressed levels
liberalization of italys foreign exchange controls should be gradual but also reasonably rapid a report issued by a study committee nominated by the italian treasury ministry said
but in the end a political decision has to be taken to give the go ahead one open question is that of a common peg for currencies
he said the prt relief for certain research expenditure would help fundamental research in the oil industry although the benefits of this research would not be seen for several year
this is a more realistic approach because the metals market is a 24 hours market and prices can move without limit oneill said
the french corn growers could now charge that us farm programs create an unfair subsidy for corn gluten feed hall said
since then negotiatiors have shuttled between tehran and paris for talks which france hopes will help secure freedom for hostages held by pro iranian groups in lebanon
b and w had sales of about eight mln dlrs in its most recent year
he told a press conference in jakarta at the end of a two day meeting of south east asian energy ministers that he saw prices stabilizing around 18 dlrs a barrel
mp co a new york investment partnership told the securities and exchange commission it bought a 68 pct stake in ipco corp common stock
nodaway valley co nvcoo 1st qtr net
they added that rumours of a possible bid for allied have surfaced from time to time in the press and the london equity market ever since last years thwarted approach from elders ixl ltd elxas of australia
a producer who did not enroll in the 1987 acreage reduction program may become eligible by signing up no later than july 15
qtly div 23 cts vs 23 cts prior qtr pay 10 june record 20 may
during the presentation gevirtz said foothill has reduced to less than five pct the companys level of non performing assets which was as high as eight pct in previous years
the transportation department also rejected a request by the teamsters union which represents some psa workers to require protections for psa workers
cnw corp said its chicago and north western transportation co sold 25 mln dlrs of consolidated mortgage 993 pct bonds series c due 1992 in a private placement
new agency to give credit ratings on eurobonds
london grain freights
acs enterprises inc acse 4th qtr loss
the consumer price index base 1978 79 was 19573 compared with 18868 in february and 14527 in march 1986
in paris on february 22 six nations britain canada france japan the us and west germany pledged to cooperate to hold their currencies stable
akzo alleged that the ban imposed by the us international trade commission itc was discriminatory and incompatible with gatt provisions
oper shr loss 23 cts vs profit 16 cts oper loss 1868000 vs profit 1293000 revs 183000 vs 3400000 note oper data does not include year ago extraordinary gain of 750000 dlrs or nine cts per shr
i worked out that paying as much as 50 dlrs per share would still be additive to gaf in time if they sold off most of the non chemical facilities said john henry of ef hutton
the senate was expected to approve the legislation this week
we have no intention of revising the terms of the accord he said
on a marginal cost basis the companies that have made capital investment to handle lng import can operate profitably even in the current price environment frank spadine an energy economist with bankers trust said
the minister for economic affairs would need to be informed in advance of deals under which foreign interests planned to buy a new stake of more than ten pct of the voting shares in a large belgian company or to increase an existing stake to more than 20 pct
it said no final decisions had been reached yet and banks have until april 16 to comment on the trunk proposals
sporadic business was noted in the second hand which offered kenya coffee for may june shipment up to 25 dlrs below origin levels
last month the government set a fixed exchange rate of nine kwacha per dollar subject to adjustment against a basket of five currencies for certain official transactions
if the merger is approved by regulatory agencies and stockholders it would create the 12th largest bank holding company in the united states
usage would be markedly more in 1989 and 1990 when grain usage under a certificate program was estimated to exceed the zero certificate case by 15 to 19 pct
brand and hellman gave up their interim posts yesterday the spokesman said adding the company will have no chairman for the time being
saito called on each g 7 member nation to prepare to intervene in the market strongly enough to ensure exchange rates are stabilised at appropriate levels
permits were 115 pct below the september 1986 level of 1687000 units
pzena said he thought the company was selling the stake because chemical margins had peaked and he speculated the company would use the proceeds to pay down debt
sensormatic snsr ups checkrobot ckrb stake
todays declines could also be partly attributed to investors selling in a bid to force down prices ahead of the state loan tender tomorrow
the holiday notes are trading at 10050 on a when issued basis the drexel spokesman said soon after s and ps announcement
richard gephardt d mo to force countries like japan south korea and taiwan to cut their trade surpluses with the us the subcommittee limited the gephardt plan to provide only that the existence of a large trade surplus with the united states will trigger an investigation of unfair trade practices but would not automatically set off retaliation
air canada courier buy sharply alters industry
the two south american countries share of the west german market rose to 932 pct from 802 pct because imports from ecuador fell to 21110 tonnes in 1986 from 51722 in 1985
lme lists brazilian aluminium brand
president jose sarney today declared a war without quarter on inflation and said the government would watch every cent of public expenditure
japan wants governments to buy its t bills
toshiba unit to enter uk telecoms market
the governments reduced need to tap the gilt edged markets will create a perennial shortage of stock maintaining upward pressure on prices a sterling bond dealer commented
port and transport union spokesman bert duim said the employers decision would not lead to the immediate resumption of eight weeks of strikes in the sector
kapok corp said it is in techical default of its loans from southeast banking corp stb and murray steinfeld but is negotiating with the lenders
finance minister dilson funaro said in a television interview that it was absolutely important for brazil and its creditors to renew the short term credit lines as brazil must finance its exports
the talks are due to last until march 20
may department stores co ma raises dividend
usdas production estimate of 210 mln tonnes reflects a range of 207 to 212 mln tonnes a usda source said
the rescheduling of nigerias official debts was one of the demands required under a rescheduling of part of the countrys estimated 19 billion dlrs of commercial bank debt for which agreement also was reached in december between nigeria and a steering committee representing the commercial banks
the borrower is the wholesale financing arm of a major group of credit unions in the province of quebec
industrial equity pacific ltd a hong kong investment firm said it raised its stake in wrather corp to 816000 shares or 113 pct of the total outstanding common stock from 453300 shares or 63 pct
nonrecurring income items totaled 2564 in three mths 1987 vs 1211196 in three mths 1986
norway egypt and the soviet union agreed to help opec by restraining production or exports after he visited them on opecs behalf earlier this year
star classics inc sclso 1st qtr march 31 net
the company did not quantify the size of the expected loss
the uk confectionery side gained market share and increased trading margins
prawiro said 1986 87 had also been difficult because of the appreciation of currencies like the yen and the mark against the dollar which increased indonesias debt repayments
analysts noted this was necessary to ensure rolls a credit rating to match those of its main competitors such as general electric co gen and united technologies corps utxn pratt and whitney unit
last year the company had 257 mln dlrs operating profit or 76 cts per share up from 111 mln dlrs or 59 cts per share in 1985
the spokesman said that on both tuesday and wednesday two different clearing banks had system problems and the securities and federal funds wires had to be held open until about 2000 or 2100 est on both days
leader development corp said it has purchased 300000 shares of convertible preferred stock in petrosurance inc for 1500000 dlrs in cash and real estate
piedmont pie agrees to usair u buyout
in a filing with the securities and exchange commission wedge which is owned by issam fares a lebanese citizen living in switzerland also said it discussed the possibility of joining with others in its own bid to seek control of ami
bass strait reserves are now two thirds depleted with the three largest fields 80 pct depleted he said
huckaby said he has tried to stress in his speeches to sugar industry groups that if growers continue to expand they may be penalized retroactively under any production control legislation passed next year
excess liquidity pushed wholesale and consumer retail prices higher in 1986 87 on previous year levels rbi governor r
solv ex said the project will cost about 260 mln canadian dlrs
japanese officials also refused to allow a new issue of venezuelan debt bonds because until the country regains its triple a credit classification
netbacks for other grades of oil refined in singapore are shown below in dlrs a barrel
the government had obtained a further loan of 45 mln dlr from the bank of credit and commerce to help pay off its remaining 165 mln sdr arrears for 1986 and is currently negotiating loans from two other banks to complete payment he told a press conference to restrict liquidity all commercial banks will have to make a supplementary deposit with the bank of zambia equivalent to 10 pct of their demand deposits chivanu added
borrowings under the exchange cover scheme were 238 mln dlrs against aprils 66 mln
the index for apparel and upkeep rose 07 pct in february after a 04 pct increase in january
us commerce depts ortner says dollar fairly priced against european currencies
spains fecsa suspends principal repayments
rising interest rates and protectionist trade policies had prompted a new push by latin american nations to win debt relief regional foreign and finance ministry officials said here
in an article in mondays edition of the miami herald baker also criticised the concept of short term debt relief calling it a dramatic overnight solution while these ideas may be well intentioned and have some political appeal they are impractical and counterproductive in the long run he said
it said world consumption was continuing to rise
payment date is march 30
the presidents position is that he is opposed to it he said
it is worth reiterating that the federal reserves promotion of price stability is critical to the successful implementation of virtually all of the important ingredients for growth he told the eastern economic association
we checked that the paris meeting of the group of six industrial nations took place exactly one month after the german cut in rates
since december nearly five mln french investors have bought shares in cie financiere de paribas paripa and glass maker cie de saint gobain sa sgeppa the first two state companies brought to the stock market under the 300 billion franc five year privatisation plan
economist wendy smith cork of the brokerage nesbitt thomson bongard inc said it shows the economy is not moving along very steadily its not a very promising number we werent surprised we expected to see one bad quarter in canada but we dont think there will be a recession she added
there was a deficit of 814 billion marks in the short term capital account after a surplus of 194 mln in january
unleaded gasoline for april finished 055 cent higher to 5124 cts a gallon
the following results reflect the operations of the companies prior to the merger
however rather than using their improved position to decrease the leverage of current capital structures the companies cash flows are being fully leveraged to finance a wave of consolidations s and p said
the oecd said it assumed the german economy was passing through a period of temporary weakness and there would be some recovery in business confidence in the near future
executives at the company were not immediately available to provide additional details
ekofisk and the nearby valhall and ula fields which use the ekofisk pipeline were shut down for most of august while phillips raised ekofisk platforms to counter seabed subsidence
genova inc said its shareholders approved a merger into genova products inc which will be consumated within a few days
shr 50 cts vs 37 cts net 161 mln vs 9390000 revs 1681 mln vs 1113 mln avg shrs 125 mln vs 116 mln nine mths shr 131 dlrs vs 86 cts net 161 mln vs 9390000 revs 4458 mln vs 2446 mln avg shrs 124 mln vs 109 mln
canada february trade surplus 125 billion dlrs after january 623 mln dlrs surplus
this meant btr nylexs 501 pct acceptance condition could not be met bwa said in a statement reporting its parents decision
economics minister martin bangemann said the state could not continue to pour money into west germanys ailing steel and coal industries because the subsidies endangered other parts of the economy
shr loss 463 vs loss 243 net loss 60780000 vs loss 28898000 rev 4997 mln vs 4321 mln note 1986 net includes loss of 499 mln dlrs for restructuring charges
he said as a transition to the higher prices he would allow livestock producers to purchase commodity credit corp
us refined production declined to 117600 tons in january from 137400 tons in december
diaz said new york investment bank allen and co inc had earlier said it was interested in buying all 381 mln sequestered shares
rumors had circulated through the market this morning that usda had widened texas gulf differentials in a similar manner to last weekends adjustments with the louisiana gulf
service resources src unit in acquisition
m0 the only targeted money supply measure left after chancellor of the exchequer nigel lawson scrapped the official target for the broad sterling m3 measure in his 1987 budget speech on tuesday fell an adjusted 3 4 to one pct in february
the statement calculated that a one dlr a barrel difference in oil prices this year will change revenue by about 350 mln stg for the current fiscal year and 400 mln stg in a full year
the cmos have an initial coupon of 70375 pct which will be reset 60 basis points above libor said sole manager thomson mckinnon
april m 1a rose a year on year 1512 pct to 1422 billion rand after rising 1472 pct to 1397 billion in march while m1 rose 2449 pct to 2792 billion after a 2069 pct increase to 2697 billion the figures showed
the offer was made to kuwait in light of irans deployment of chinese built missiles to cover the entrance to the gulf
a facsimile machine sends printed data over telephone lines while a key telephone system is used for switching calls within a business industry sources said
no timetable was given
jones and vining jnsvo starts bid for shares
in 1986 cyclops earned 213 mln dlrs or 526 dlrs a share on sales of 15 billion dlrs compared to 1985 earnings of 262 mln dlrs or 620 dlrs on sales of 14 billion the spokeswoman said
a total of six of 10 indicators available for january contributed to the decline
oregon steel buys kaisers napa valley plant
the company added that it has no reason to believe st
zambian central banker criticises imf policies
carteret said the new bank has two offices outside baltimore which were acquired last june when carteret merged with admiral builders savings and loan association
exportfinans 15 billion yen of five pct eurobonds due 1992
but analysts called it a false breakout on the weekly charts when the june bond closed at 100 10 32 friday
measurex a maker of computer integrated manufacturing systems said the subsidiary represented less than one pct of worldwide revenues and the sale will have no impact on this years earnings
the world banks one billion luxembourg francs of seven pct eurobonds due 1997
shr 135 dlrs vs 153 dlrs net 42137000 vs 47792000 loans 1026 billion vs 997 billion deposits 765 billion vs 763 billion assets 1184 billion vs 1200 billion note current qtr figures include 33 mln dlr charge resulting from penalties for prepayment of fhlb borrowings
he told securities analysts that when the companys common dividend is resumed the initial rate will appear conservative to you by industry standards and in relation msus net income and cash flow our progress will determine how soon we can reinstate a dividend to our common stockholders he said the company last paid a common dividend of 445 cts a share in july 1985
analysts say that the appraised value of the company could be revised due to asset sales of their oil and gas reserves
pound and canadian dollar capturing attention
tony measor an analyst at hong leong securities ltd estimates swires profits will be 1525 billion dlrs
reliable life insurance co rlifa year net
primerica pa completes smith barney takeover
shr loss 92 cts vs profit one ct net loss 2487439 vs profit 48709 revs 1788141 vs 4167070 year shr loss 150 dlrs vs profit 48 cts net loss 4073724 vs profit 1309412 revs 8193455 vs 157 mln note 1986 year net includes 3095305 dlr writedown of oil properties and reserves
tandem computers inc said it expects higher earnings and revenues in its second fiscal quarter ending march 31 against a year ago
today it reported 1986 earnings of 294650 dlrs down from 371064 dlrs a year before on revenues of 8157864 dlrs up from 7054709 dlrs
general cinema corp 1st qtr oper shr 43 cts vs 47 cts
teck vice president of administration john guminski said in reply to a query that the talks had been ongoing for a long time he declined to speculate on the outcome
peoples heritage bank phbk 1st qtr net
argentine meat exports higher in jan feb 1987
since 1935 we have been regular suppliers of sugar to the us in 1982 when they restored the quota system they cut ours in half without any justification manila was keenly watching washingtons moves to cut domestic support prices to 12 cents a pound from 18 cents
m
a group led by far hills nj investors natalie and paul koether told the securities and exchange commission it has acquired 299523 shares of american physicians service group inc or 51 pct of the total
morrison inc morr acquires custom management
on march 27 1985 the board had authorized the repurchase of up to two mln shares as adjusted for a two for one split effected in april 1986 the company said
fieldcrest fld sells convertible debentures
waste management also said it amended its offer to provide that the tender offer price will not be reduced by chemlawns 10 cts a share dividend payable to holders of record april 1 1987
heyman has decided to reconsider its offer to acquire gaf
ongpin said the restructuring of commercial bank debt as well as of 870 mln dlrs of debt by the paris club of western creditor governments in january was expected to reduce the countrys debt service ratio to between 25 and 30 pct from its current level of 40 to 45 pct
in caracas there have recently been calls to invoke the agreements contingency clause which the government used last year to amend the original terms after a 40 pct drop in oil income
the launch of the program is still subject to final approval of the french authorities
the agriculture ministry declined comment on a local newspaper report that japan had agreed to hold talks on its closed rice market in the new gatt round
qtly div 10 cts vs 10 cts prior pay may 25 record april 20 note canadian funds
a spokesman for the port of santos which has been the scene of labour unrest and congestion in recent months said movement of ships out of the port was running at about half its normal level of 12 ships a day
he estimated it could take about 60 days to build
endotronics said the complaint against it alleges violations of the federal securities laws in connection with statements made in the companys annual and quarterly reports
shares of reynolds metals co rose sharply after wall street firm furman selz mager dietz and birney issued a report focusing on the strong earnings potential from the companys australian gold holding traders familiar with the report said
it also said that lanesborough is making a major investment in a venture with extremely high financial risk
weve looked at five or six different alternatives involving such things as flip flopping the trading rooms he added
malaysian palm kernel output fell to an estimated 80500 tonnes in february from a revised 83231 originally 83700 in january and 98393 in february 1986 the palm oil registration and licensing authority said
schering plough corp said it obtained an injunction against natures blend products inc of due to trademark infringement on its fibre trim label
belvedere corp blv 4th qtr loss
imports in september amounted to 12 billion dlrs against 132 billion dlrs in august
outstanding bank debt of 117 mln dlrs plus an additional 300000 dlrs in borrowings for working capital has been financed with republicbank in dallas
with the sale csr will be able to expand those businesses more aggressively and earlier he said
brooks told the news conference that any purchase would be in the form of a management buyout and not a leveraged buyout
analysts and traders generally predict a similar or smaller depletion for last week
shr five cts vs seven cts net 80642 vs 115222 revs 7833570 vs 5739443 nine mths shr five cts vs 111 dlrs net 80773 vs 1743828 revs 216 mln vs 163 mln
i am speculating that the new product could be an electronic still camera referring to a camera that records its images on magnetic disks as opposed to conventional film
economists expect the fed to execute 20 25 billion dlrs of customer repos to offset pressures from the end of the two week bank reserve maintenance period today
old dominion systems inc odsi 1st qtr jan 31
cir comagnie riunite industriali spa irrimi said it will ask shareholders to approve two five year bond issues carrying warrants convertible into shares of its subsidiaries buitoni spa and sasib spa neither the value nor the terms of the planned issues was released
it quoted the ministry of light industry as blaming the drop in output on unreasonable state purchasing prices for cane and beet as against other crops which has resulted in farmers refusing to grow them
theyve lost their credibility
weigh tronix inc wght 4th qtr net
the department said it may buy the wheat valued at 85 mln dlrs the corn valued at 15 mln and the tallow valued at 20 mln dlrs between march 24 and august 31 1987 and ship it from us ports and or canadian transshipment points by this september 30
the issue was increased from an initial offering of 60 mln dlrs because of investor demand
it also has the marketing contract for mineral sands produced by tio2 corp nl of which it holds 175 pct
liberal democrats said a lack of any restrictions in the bill implied consent to reagans policies
two months ago the international coffee organization issued a forecast of kenyan exportable coffee production in the 1986 87 oct sept season at 182 mln bags
liberty financial announces merger with equimark
the dot acted shortly after the us department of justice disclosed that it supported dismissal of the twa application
four closings are set for may 23 and four for june 20 and the rest are tentatively set for september 19
the agency is also paying a further 31 mln stg to indias coal sector for the expansion of its indigenous coal development programme using british designed longwall technology
thousands of tea workers of indian origin went on strike today to press demands for citizenship and voting rights in sri lanka a union statement said
nederlandsche middenstandsbank nv said it planned a 50 mln australian dollar 145 pct three year bullet eurobond issue at 1015 pct
lucky stores lks edelman in standstill pact
shell canada ltd 72 pct owned by royal dutch shell group is at 40 1 2 up from a low during the last year of 18 3 4
the international cocoa organization icco council adjourned after agreeing buffer stock rules for the 1986 international cocoa agreement an icco spokesman said
it is a diversified agriproducts company which produces and sells industrial and consumer flour flour based products and baked goods
these samples would be mailed to a laboratory facility for aids screening
the offer would not be conditional on any minimum number of shares being tendered
the fob premium rose to 1350 dlrs per tonne up 250 dlrs from the premium for the november to april shipment but down from 1380 for the last may to september shipment
pay date is april 6
shr 13 cts vs three cts net 617000 vs 112000 sales 313 mln vs 114 mln avg shrs 4877057 vs 3310585 note 1987 net includes 87000 dlr tax credit
essos chairman stuart mcgill said he hoped esso can assist in maintaining the high rate of oil and gas discoveries in the cooper eromanga area
the debentures will be convertible into common shares at any time up to april 30 1992 at a price of 1750 dlrs a share and then up to april 30 1997 at 1850 dlrs a share
golden rule resources ltd and goldsil resources ltd said they had agreed to merge
the meeting is due to end on thursday
in 1990 the communitys standstill agreements with spain and portugal end and the ec would then feel the full impact of its enlargement
one thing you can adjust is to make each contract a larger value as chairman of the cme in 1969 71 melamed was instrumental in the development of currency futures which now are crucial to the chicago exchange
money from the sale of the station will play a role in helping develop an alternative to the tender offer co sponsored by afg industries inc afg and wagner and brown reynolds said
executive house inc year loss
comdata network inc said it is in active talks with other parties on a possible acquisition or recapitalization of comdata in an effort to maximize shareholder values
the company also said it expects to realize a profit of about 300000 dlrs on its 25 pct interest in the briarcliff manor condominium project in new york with about 140000 dlrs of the profit being reflected in the year ending september 30
he said a number of favourable indicators such as high level of investment and a good climate for consumption meant a recovery could be expected while exports would pick up slightly during the course of the year
egypt buys 46000 tonnes of sunflowerseed oil
now however they appear increasingly willing act as principal in transactions rather than acting on behalf of their new york offices
becor western inc said davis mining and manufacturing inc has amended its offer for the company
it said the consumer price index base 1981 rose to 13283 points from 13269 in february and 13117 in march 1985
eurofer says it has identified scope for the closure of plants which have an annual capacity of 1526 mln tonnes provided the companies concerned can be fully repaid by the ec or national governments for redundancy and other social costs
both issues are priced at par
the mexican restaurant franchisee reported a net loss of 415493 dlrs for the six months ended november 30 1986
de los angeles said the share purchase would also violate an smc agreement with its creditors to maintain a 22 to 1 debt to equity ratio
he also said wheat will not be considered for a cash bonus under the conservation reserve program
gerasimov said no date had been set for the talks which would also study the possibility of soviet technical assistance for irans oil industry
also seen arriving were japanese finance minister kiichi miyazawa and japans central bank governor satoshi sumita and british chancellor of the exchequer and central bank governor robin leigh pemberton
thor energy resources thr year jan 31 loss
in addition he said that the us has an increased propensity to import in order to satisify consumer tastes
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
however the sources said the real test of saudi arabias ability to sell crude at official prices in a weak market will come this month when demand for petroleum products traditionally tapers off
the partnership said it was willing to negotiate all points of its offer including price
the indices stood at 1153 1144 and 1110 respectively
shr 162 dlrs vs 149 dlrs net 3218 mln vs 2979 mln revs 259 billion vs 249 billion avg shrs 1988 mln vs 1995 mln nine mths shr 280 dlrs vs 448 dlrs net 9554 mln vs 8952 mln revs 770 billion vs 732 billion avg shrs 1990 mln vs 1997 mln
contrary to the filing mr
usair u seeks order against twa twa 
in 1986 us oil imports rose to 33 pct of us energy requirements and shopuld be about 34 pct in 1987 he added
sumitomo chemical co ltd sucht year to dec 31
the uk exported 535460 tonnes of wheat and 336750 tonnes of barley in january the home grown cereals authority hgca said quoting adjusted customs and excise figures
1987 qtr includes gain 94 mln dlrs from tax benefit
uap makes acquisitions
ecuadors finance minister domingo cordovez and iadb president antonio ortiz mena signed the loans after the iadbs annual meeting here
if the flow of funds dries up a country like brazil cant meet all its obligations he said
pakistan will tender tomorrow for 12000 tonnes of refined bleached deodorised palm olein tomorrow split in two equal cargo lots for first and second half april shipments traders said
beet producers have threatened to effectively dump nearly one mln tonnes of white sugar into ec intervention stocks as they feel export subsidies have been too low to compensate for the gap between high ec internal and low world market prices
coeur dalene mines corp couro 3rd qtr net
barclays midland follow natwest base rate cut
the proposal is also subject to a due diligence review execution of a merger agreement arrangement of financing and receipt of government approvals all of which gabelli and co said could be completed within 60 days
it said the additional provision increases the allowance to 264 mln dlrs representing 663 pct of the outstanding loan portfolio and 832 pct of non performing loans at year end
a swiss bank economist said he believed the markets were ready for a period of mainly sideways movement but milan dealers were sceptical about the communique contributing to greater stability
gillette co said revlon group made an unsolicited request asking the gillette board to allow revlon to make a cash offer for all gillette shares of at least 4050 dlrs per share
vanguard technologies international inc vti 
commerce secretary malcolm baldrige said the united states will not stand idly by and let japan dominate the world electronics market
moi pressed the us to increase its level of aid to kenya which fell to 53 mln dlrs this year from 111 mln in 1984 and called for more us investment in the country
chrysler said the stock dividend is payable april 13 to holders of record march 23 while the cash dividend is payable april 15 to holders of record march 23
drought hits thai rubber and fruit growers
the december agreement set an overall output ceiling for opec of 158 mln bpd for first half 1987 and restored fixed prices as from february 1 around a reference point of 18 dlrs
hj heinz co said net income for the third quarter rose 182 pct despite an 172 pct increase in marketing expenses
the group said it bought the shares for investment and intends to continue to buy texstyrene stock in the future
oil world forecast that stocks of oils and fats may be cut to only 98 mln tonnes at the end of this season compared with 106 mln a year earlier
mai seeks 100 mln dlr multiple facility
with this in mind and with dutch roasters claiming to have fairly good forward cover the buying strategy for the foreseeable future would probably be to buy coffee on a hand to mouth basis and on a sliding scale when market prices were below 120 cents a lb roasters said
its 1986 pretax profits excluding extraordinary items totalled 114 mln canadian dlrs
i would refer you to the paris agreement which was a recognition the currencies were within ranges broadly consistent with economic fundamentals baker told the cable news network in an interview
neuman who transferred the stock nearly two years ago to the tudor trust of which he is trustee said the trust sold the entire stake in a private deal on june 9 at 1100 dlrs a share
nordic investment banks 300 mln danish crown 11 1 4 pct eurobonds due 1994
scat hovercraft inc scat year loss
ec farm spending currently swallows two thirds of an overall annual budget of around 40 billion dlrs and is almost entirely blamed for a projected budget shortfall later this year of some 57 billion dlrs
the issue is guaranteed on a subordinated basis by generale bank
insee changed its base year to 1980 from 1970 last month
there will be no change in the estimating program for california oranges
the payment date is may 6
it said lawrence powers remains as chairman
raise in brazil fcoj export prices not confirmed
he said the opec price differentials committee meeting formerly postponed to april had been put off indefinitely
union to protest darts supermarkets sgl bid
he did not elaborate
shr 22 cts vs 57 cts net 504808 vs 1281781 revs 633119 vs 1396703 nine mths shr 87 cts vs 132 dlrs net 1959385 vs 2986379 revs 2342322 vs 3346555 note full name of trust is travelers realty income investors
the treasury said it would also offer 2000 billion lire of 12 month bills at a base price of 9115 pct for a net annual yield of 905 pct down from 922 pct in mid february
1986 six months includes 679000 net gain
federal paper board co inc fbo offering of 28 mln shares of cumulative convertible preferred stock through an underwriting group led by first boston corp
the number of unemployed declined to 632100 from 638300 in january against 594500 in february 1986 it said
one intersection graded 033 ounce gold per short ton over 44 feet at depth of 1411 feet while the other graded 022 ounce gold per ton over 23 feet at 2064 feet the companies said
jiang said ningbo is under utilised because of its inadequate facilities including a single track rail line linking it to hangzhou where it joins the national network
the trade bill gives us trade representative clayton yeutter more authority in trade negotiations and in decisions to grant domestic industries import relief
milton roy co mrc sets regular dividend
hoechst unit issuing 130 mln swiss franc bond
he said both np energy and its unsecured creditors had request that a trustee be appointed
ste lyonnaise des eaux lyoepa year ended dec 31
soviet sugar imports in october and november were significantly higher than in the same period of the year before according to figures received by the international sugar organization
the ability of the bank to write off depreciations in credit business against profits from securities trading and earnings on the sale of stakes had been utilised as in prior years to its full extent
the 34 pct decline from the 1985 level reflects continued water rationing which will remain in force the ministry said
the net debt equity ratio at the year end had risen to 59 pct from 23 pct the year before it added
judge to decide burlington bur in several days
i dont believe in chasing mirages maxwell said
closing of the sale to boliden ab of sweden would be part of the overall restructure of allis chalmers which was announced on march four the company said
the ksz offer resorts said indicates that ksz has a commitment from m
year net 1986 includes operations of friedrich climate master inc which the company acquired in august 1985 for the full period while the comparable period for 1985 includes only operations from august 16 1985 to dec 31 1985
the first tranche would be available late this month or in early april
he said bankamerica bac corp has had numerous inquiries from lenders who want to participate in a 225 billion dlr financing for the deal
lng imports from algeria unlikely in 1987
chrysler said the letter of intent for the deal which needs government and amc shareholder and board approval provides that amc holders will receive not more than 0840 or less than 0687 of a share of chrysler common for each share of amc common they hold
a gemina spokeswoman told we have nothing to say about the report a spokeswoman for milan based ambrosiano said we have no information at this time in february ambrosiano chairman giovanni bazoli said foreign and domestic firms have expressed interest in buying stakes in the bank
the bank is the latest to cut prime rates in recent days following a continuing decline in market rates
safricas financial rand seen headed higher
it said it now intends to work with its health care providers in alabama to further develop the hmo
consolidated owns 42 mining concessions in three regions of eastern and northern brazil gammara santo antonio and diamazon the company said
ing
among the main factors affecting liquidity bills maturing in official hands and the take up of treasury bills will drain some 650 mln stg while a rise in note circulation will take out around 30 mln stg
240 uncorrected note full name is nationale nederlanden nv ntnnas
beecham group bhamy to sell unit
in 1986 australia sold 428 mln australian dlrs worth of goods including steel and coking coal to india and bought 1705 mln worth of items including cotton textiles from india
woodside said a 928 mln dlr capital profit on the sale would be included in the 1987 accounts
the duty to raise funds for special energy projects was adjusted after average crude import prices rose to 1685 dlrs a barrel in april from 1665 dlrs in march and 1308 dlrs in april 1986 ministry officials said
under the arrangement milar to one in 1980 coffee importers would voluntarily present needed documents to the us government until congress approves the monitoring authority but if coffee arrives without valid certification it will still be allowed entry
limits on buffer stock purchases of nearby and non member cocoa will reduce the impact on terminal prices which are pressured by the overhang of malaysian material traders said
the us has said it will not agree to any coffee quotas unless objective criteria which reflect recent changes in the coffee market are used to set export limits
the federal farm credit banks funding corp said its will offer a total of 17 billion dlrs worth of bonds on march 25
cyacq includes audio video affiliates inc and citicorp capital investors ltd and other investors
mining of eluvial surface material produced 25000 ounces in 1986 and is expected to produce 60000 ounces in 1987
commerce officials would not say if they found any canadian companies had been evading the charge but that following the talks they were convinced all exporters were complying with the agreement
yesterday tamuras ministry of international trade and industry miti launched a last ditch attempt to salvage the pact by writing letters to us policy makers setting out japans case and telling japanese chip makers to cut output
the australia and new zealand banking group ltd in new zealand said it will raise its indicator lending rate to 23 pct from 215 pct on april 7
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 say it would not only curb the growth of oils and fats production and prevent imports from filling any vaccum left by a fall in ec output but would also save the ec some two billion european currency units over two billion dlrs in farm costs
part cargo 59000 tons dirty april 16 caribbean to us atlantic coast us gulf rate not reported
and even if free market reforms followed debt fogiveness would frighten away investors who would not risk their capital in a country which abandoned its obligations and he said a debt forgiveness plan that damages commercial banks also weakens confidence in world financial stability he cautioned that resolving the debt situation would be a gradual and painstaking process varying from country to country
it said it has engaged merrill lynch and co inc mer to assist in the sale process
mixed asian reaction to new rubber pact
standard and poors corp said it expects downgrades of corporate debt ratings to ease this year from the lofty levels of 1986 and 1985
the index base 1978 79 covering 14 towns and five regions was 18868 in february 18372 in january and 14340 in february 1986
grow group inc gro sets quarterly
att to sell neti technologies software
the index base 1980 equals 100 registered 1731 in february compared with 1728 in january
franco german parley fails to unblock farm talks
continental airlines inc a unit of texas air corp said it filed a registration statement with the securities and exchange commission relating to 100 mln dlrs principal amount of senior notes due 1997 guaranteed by texas air corp
knox said he had suggested to bolivian authorities that they invest as much of their disposable resources as possible in works of rapid reaction and which support the decision to make the bolivian economy grow knox is to hold talks with paz estenssoro as well as private businessmen and other government ministers during his visit
qtly div 37 1 2 cts vs 37 1 2 cts prior qtr pay 1 april record 16 march
imperial bancorp iban sets five pct dividend
at one time it had a fixed system which was theirs and nobody elses friend said
the stores are located in 17 states concentrated in the northeast northwest and southwest
shr loss 28 cts vs profit three cts net loss 189 mln vs profit 21 mln assets 167 billion vs 198 billion deposits 141 billion vs 162 billion loans 122 billion vs 144 billion note net includes securities gains of 204 mln vs 131 mln
the budget is widely forecast to be a vote winner in the run up to a general election the major factor behind current bullishness in the government bond and currency markets
commerce and defense officials said baldrige and weinberger feared the us military is already leaning too heavily on foreign electronic support
crazy eddie inc said its board has adopted a defensive shareholder rights plan and said it has reacived inquiries on a friendly merger
b and c shares eased 11p to 459p at 1040 gmt
uk wheat market eases on intervention release
the company said closing is expected by late spring and will result in american travellers being licensed in seven new states
under this latest arrangement lucky stores said it agreed to reimburse the edelman group for 28 mln dlrs of out of pocket expenses which include litigation and other costs
whitehall corp wht 4th qtr net
jakarta has also received loans worth 162 mln dlrs from the banks asian development fund
tidier rules on incorrectly allowed prt expenditure reliefs were announced while there were also ammendments on rules on corporation tax and advance corporation tax relating to the so called ring fence of activities in the uk and its continental shelf
lim in brussels on a tour of europe and america said he had instructed malaysias representatives on the executive committee of the association of tin producing countries atpc to draw up a paper on the matter
indonesias copra production is forecast at 132 mln tonnes in calendar 1987 up from 130 mln tonnes in 1986
new york telephone co a subsidiary of nynex corp filed with the securities and exchange commission for a shelf offering of up to 500 mln dlrs of debt securities on terms to be determined at the time of the sale
there is a one pct selling concession and a 1 2 pct combined underwriting and management fee
rmj holding is the holding company for rmj securities a large broker of us government securities and agency obligations bank of new york owns a majority interest in rmj holding and management of rmj securities the remainder
tandy brands tab sells unit
waste management inc wmx had originally made a hostile tender offer of 27 dlrs per share for chemlawn which chemlawn rejected as inadequate
whirlpool corp whr 1st qtr net
sosnoff said the financing for the offer is almost fully in place
this is the first dividend paid by federated since its conversion to a stock company from a mutual on jan 28 1987
newspapers in manila and hong kong reported at the weekend that an offer had been made
the companies said they expected the merged group to qualify for listing on nasdaq
its a backward movement and goes against the governments liberalisation programme taiwan last year eased some of its financial regulations to enable taiwan nationals to invest in foreign government bonds treasury bills and certificates of deposit and to allow individuals to take 5000 us dlrs in cash out of the country each year
blackburn said he currently estimates that at thee prices for its products the company will have a cash flow of about 280 mln dlrs
statoil estimates the fields total development cost including drilling at 66 billion crowns
the bond is in partly paid form with 25 pct due on april 15 and the remainder on july 15
usair rejected the offer yesterday calling it a last minute attempt to interfere with its takeover of piedmont aviation inc
echo bay said it encountered gold in 39 of 42 drill holes at cove
compound feed sales totalled 2601 mln tonnes in 1986 87 against 2540 mln a year ago while end march stocks were 217554 tonnes against 224101
france a large consumer and producer of sugar favours a sugar pact as long as it reflects the real market situation particularly regarding stocks
harcourt hbj debentures may trigger suit
coke consolidated cokeo to sell canada unit
shr 17 cts vs 15 cts net 229000 vs 201000 revs 105 mln vs 99 mln year shr 21 cts vs 55 cts net 283000 vs 766000 revs 404 mn vs 397 mln note1985 shares adjusted to reflect the distribution of one share of class b common stock for every two shares of common stock held of record as of july 1 1986
guinness said earlier it would propose a resolution at the annual meeting in may to remove saunders and ward as directors of the company
he expects navistar to earn 120 dlrs a share next year
some experts worry the central banks have lost more than just a temporary battle to prop up the dollar
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
a spokesman speaking from frankfurt told offers have increased recently but contracts have not yet been concluded
nordbanken is fermentas third largest creditor with loans of 155 mln crowns
after that southmark said its common stock will be traded on an ex rights basis
us grain carloadings fall in week
the third 20 year tranche offers 65 pct interest in the first year but afterwards interest will be fixed annually at the average of secondary market rates
in its fiscal year recently ended marcade said the company to be acquired which owns five us manufacturing facilities and one offshore had revenues of over 60 mln dlrs and pretax earnings of about four mln dlrs
most of the benefit will be in the fourth qtr because it will integrate the company in the second half anacomps earnings will be less if it has problems integrating datagraphix harlow said
in its latest half yearly review of the world economy the oecd said japan managed to considerably reduce its surplus last year when domestic demand grew by four pct in 1986 while export markets rose by only two pct
monsanto co mtc 3rd qtr net
central bank sources said some commercial banks anticipating such a central bank decision have been converting their foreign currencies into baht this week and lending the additional funds to the bank of thailands short term loan repurchase facility
1987 3rd qtr and nine mths net includes a loss of 220 mln dlrs or 79 cts a share for discontinued operations and 70 mln dlrs or 25 cts a share for extraordinary gain
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
texas instruments txn opinion reaffirmed
other bankers and economists said they are wary of making any firm predictions about how far the taiwan dollar will rise
most us producers have fallen behind other foreign producers in the use of modern textile and apparel production equipment and net imports are growing faster than the domestic markets kelly said
he declined to name the companies but said a deal could occur as soon as the second half of 1987
sosnoffs report on the offers he received for his caesars world shares were amended to his official offer to purchase the company as well as reported to the sec
net includes loan loss provision of 202 mln vs 126 mln
this represents a premium of 20 pct
shipowners have offered a 100 per cent raise which the seamen rejected
franco nevada says stock rise due to drilling
the crown has been bolstered by high norwegian interest rates currently around 16 pct in the money market and better than expected economic indicators which showed a sharply reduced foreign trade deficit in may and inflation stabilising around the current annual rate of 10 pct
perini corp pcr sets quarterly
moodys reduced to caa from ba 3 texaco capital nv s convertible subordinated eurodebentures
the sale price was not disclosed
satellite music network inc smni year net
fees total 1 3 4 pct with 1 1 2 pct for co managers
the company said it will continue to own and operate the reading terminal market in philadelphia
rha is heading a trade mission to 37 us cities
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
clabir clg dividends not taxable
he noted export registrations for the first four months of the year totalled around 55 mln bags more than half the 99 mln exported in 1986 when drought reduced the crop to between 112 mln and 12 mln bags
the facility was proposed by rep
cts cts increases 1986 loss
shr 152 dlrs vs 17 cts net 1306000 vs 144000 rev 758000 vs 670000 year shr 268 dlrs vs 263 dlrs net 2313000 vs 2285000 rev 28 mln vs 27 mln note fourth qtr and 1986 had gains on real estate investments of 933000 dlrs or 108 a share and 970000 dlrs or 112 a share respectively
funding debt sales to the non bank private sector and external flows to the public sector rose by 300 mln stg after a 15 billion stg rise in january
cathode inventories at rod mills fell to 86456000 lbs in january from 124409000 lbs in december while wirebar stocks were lower at 3508000 lbs versus 4913000 lbs in december
he said he did not know the maturity of the note
forstman little and co said it plans to sell its sybron corp unit a leading maker and marketer of dental and laboratory products for an undisclosed sum
german economic outlook seen fairly bright
freymiller trucking inc initial public offering of one mln shares of common stock including 250000 being sold by current holders at an estimated 12 to 14 dlrs each through alex
partly offsetting these outflows exchequer transactions will add some 140 mln stg to the system today
the country needs all the foreign exchange it can get and shipowners have been quick to denounce seamen for the harm the strike is doing to exports
oper shr 16 cts vs nine cts oper net 2281000 vs 1319000 revs not given year oper shr 13 cts vs six cts oper net 2635000 vs 1775000 revs 319 mln vs 317 mln note 1986 qtr excludes extraordinary loss of 1155000 dlrs or nine cts share versus gain of 607000 dlrs or five cts shr note continued 1986 year excludes extraordinary loss of 3101000 dlrs or 25 cts share versus extraordinary loss of 265000 dlrs or two cts share
it is also doubtful whether the tertiary sector can fully employ those put out of work in the manufacturing sector he said
dome was the most active stock on the toronto exchange at 150 dlrs per share up 37 cts
wilshire also said that jacobs chairman joseph jacobs has agreed to recommend a second wilshire nominee for election to the board if the person was found to be qualified
the company said 1987 got off on a much better footing than fiscal 1986 from which the company recorded a loss of 676 mln dlrs or 628 dlrs per share on revenues of 6414 mln dlrs
sanwa plans to increase its stake in bpi to four pct the ceiling for foreign shareholders the official said
whittaker wkr to have gains from sales
mulford sees more bank loans to debtors in 1987
the company said it intends to used the proceeds from the sale to redeem its entire 125 mln dlrs of its outstanding 13 pct subordinated debentures due 2000 with the balance to be added to the companys general funds
such a solution is still not in sight said nobel prize winning economist franco modigliani
he said according to ico statistics there was a shortfall of nine mln 60 kg bags on the world market between october the start of the coffee year and february
wells rich green handles procters pringles gain safeguard spic and span prell sure banner and oil of olay brands
the company said it plans to complete the sales which are subject to various regulatory approvals by the end of july
but strategic diversification into downstream operations in europe several years ago and a hefty refining investment at home gives it guaranteed markets abroad and enables it to sell over one half of its output as high grade refined oil products
this is why countertrade has not been made a law in india
that tender originally only sought two to three cargoes but resulted in the sale of eight
over the past 18 months as the us dollar plunged and investors moved into strong currencies the resulting sharp rise of the west german mark severely strained the system
progressive bank inc psbk 
the total number of unemployed in february was 213200 against 215700 in january and 216600 in february 1986
we are not here to dictate to them he stated
the loan reference rate is based on longer term trends
diplomats said that conable was expected to press suharto and leading economic ministers to maintain the pace of policy change particularly in dismantling indonesias high cost protected economy
he gave no further details on the release which was confirmed minutes earlier by a mitsui spokesman in tokyo
foreign commercial business was influenced by a fall in west german foreign trade but earnings were still satisfactory
this compares with the banks downward revised estimate of the shortfall in the system today of around 700 mln stg
maryland national corp mdnt said it has completed the acquisition of american security corp in an exchange of 081 maryland share for each of americans 12 mln shares outstanding
shr loss 74 cts net loss 4192613 revs 2928021 note 1986 net includes 3095000 dlr write off tied to discontinuation of emulator board production
crazy eddie said the new amendments limit future amendments to the plan modify the definition of continuing directors and permit amendment or termination of the plan with the consent of the companys shareholders if there are no continuing directors in office or the approval of at least three such directors cannot be obtained
saab scania ab is establishing a 100 mln dlr euro commercial paper issuance program enskilda securities said as arranger
the property and casualty insurance companys chairman and chief executive officer martin j
rite aid corp rad sets quarterly dividend
period ended march 31 oper shr profit four cts vs loss 17 cts oper net profit 584000 vs loss 2165000 revs 7493000 vs not given six mths oper shr profit eight cts vs loss 14 cts oper net profit 1177000 vs loss 1778000 revs 148 mln vs not given
the stock closed at 550 dlrs bid on friday
ab astra share split to widen foreign ownership
he urged creation of a task force to be headed by former federal reserve chairman paul volcker to coordinate international credit and montary policies among major nations and stabilize interest rates at the lowest possible levels
bf saul real estate investment bfs payout
for the year ended november 30 gencorp earned 130 mln dlrs on sales of 310 billion dlrs
the co leaders in the new danish eurobond deal are copenhagen handelsbank den danske bank and kredietbank luxembourg thuesen added
the defense group subsidiaries are astronics corp which is based in santa monica calif and employs 1076 people instrument and avionic systems corp based in grand rapids mich and employs 3479 people international corp based in stamford conn and employs 266 people and development sciences corp based in ontario calif and employs 237 people
the selling concession is 1 1 4 pct while management pays 1 4 pct and underwriting pays 3 8 pct
she said fords already good market share is expected to remain favorable and earnings from overseas are expected to improve
however kay told later that his reply to roberts was not based on any particular knowledge
terms were not immediately disclosed
the transaction is subject to a definitive agreement and government and board approvals
kentucky central life insurance co said it declared a semi annual dividend of 55 cts per share payable march 31 to shareholders or record march 19
the aim is to pressurise a companys management into action dedicated solely to a favourable impact on the share price in the short term partly or even primarily at the expense of the future he said
oil sources said they were not crucially important to irans oil export trade
rates could ease further in trading today but dealers expect them to rise later in the week as banks begin paying out funds for tax payments on behalf of clients
dutch dairy and general foods manufacturer koninklijke wessanen nv wessas said it is planning further world wide acquisitions and forsees strong profit growth over the next 10 years
we hope this will encourage more metal traders to set up shop here and that singapore can become a delivery port for other metals as well he said
siemens will have a 20 pct stake in the new company while jeumont schneider will own 80 pct
hong kong provides new guarantee for mtrc debts
swire is developing a large commercial and hotel complex in the central business district of hong kong but it will not provide income until the first stage is completed next year
grain ships loading at portland
taiwan says us wants taiwan dollar to appreciate
it is not clear however whether all consuming countries will follow suit as a number of them in particular britain west germany and belgium appeared to have strong reservations the sources added
enactment of this bill will reduce the price gap between sweeteners and help to correct or stabilize the many adverse impacts and trends which the sugar industry is currently facing myers said
india passed on all other materials they added
the notes have a 6 7 8 pct coupon and were priced at 9980 to yield 47 basis points more than comparable treasury securities
the cpo market was lower in light trading with april traded between 74750 and 755 ringgit per tonne
in a filing with the securities and exchange commission moller said he bought 65000 first western common shares between jan 20 and march 26 at prices ranging from 10000 to 10625 dlrs a share
he added that the current discussions were a reaffirmation of that agreement indicating that the solidarity that occurred in paris was still in place
japan is sending a three man team to washington to try to halt threatened trade sanctions that officials warn could spark a wave of anti us sentiment here
supply of cane in guangdong is inadequate the newspaper said
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
in a statement the commission reiterated its view that the industry needs to lose between 25 and 30 mln tonnes of capacity by 1990
arango described measures adopted here yesterday including a lower export registration price as a major change in colombias coffee marketing policy
many even resort to harakiri swaps those with unprofitable pricing
berisford wants to stay independent
one money market dealer for a major foreign bank said i dont think the bundesbank wants rates to go up whatever happens
by making the disclosure in a filing with the sec which is obviously already aware of its own probe icahn was also alerting current and potential shareholders of twa
it said office machinery and data sectors wood and furniture precision mechanics oil and electricity showed improved activity
growth in japans m 2 plus certificates of deposit cd money supply in the october to december period is not expected to accelerate but will remain at high levels between 11 and 12 pct a senior bank of japan official said
lamson and sessions co lms 3rd qtr net
the new issue is for payment on march 31 and coupon payments annually on august 11 with the first coupon a long coupon
he acknowledged that the mine suffered a loss of production but declined to give estimates
trade interests ready for battle in us house
the west german registered motor vessel stefan e
applications totalled 440 mln ringgit for the 100 mln of bills on offer
speaking to reporters the bank research group said that the increase in interest rates announced yesterday and other activity in the foreign exchange markets did not indicate a fundamental change in the outlook
usda estimates european community crops
corn supply demand by country usda
att also charges 40 dlrs per hour for on line usage fees with a monthly minimum of 250 dlrs
basf basff says 1986 results affected by dlr
rather they will operate as sister companies it said
there had been some doubts on wall street that the company could meet the payment
miyazawa says exchange rates will stay stable
shr 15 cts vs 15 cts prior qtr pay june one record april 24
southmark corp said it acquired 28 long term care facilities containing for approximately 70 mln dlrs in cash
the submission also said australias federal system impeded the awbs role of coordinating and managing the marketing of wheat
uk money market forecast revised to show surplus
fitzwater says reagan strongly against tax hike
international cocoa organization icco producers and consumers accepted the principles of a compromise proposal on buffer stock rules as a basis for further negotiation delegates said
the exact amount of the swap will be determined later it said
price levels will continue to be expressed in the joint malaysian singapore currency he added
federal reserve weekly report 2 feb 26 two weeks ended feb 25 total vault cash 25237 vs 27327 inc cash equal to req res 22834 vs 24680 one week ended feb 25 daily avgs mlns bank borrowings 614 down 131 including seasonal loans 88 up 14 including extended loans 304 up 10 float 511 down 320 balances adjustments 2101 down 67 currency 206490 down 519 treasury deposits 4208 down 63
ministers from the group of 24 developing coutries said that the debt crisis was entering a new and dangerous phase and called for the formation of a ministerial committee to examine solutions to the problem
qtly div 15 cts vs 15 cts previously pay june 19 record june one
towle manufacturing co qtow year loss
the uk s prime minister margaret thatcher us secretary of state george shultz us commerce secretary malcolm baldrige and us trade representative clayton yeutter have all expressed such opposition
also as loan rates get lower collins said there would be more incentives to participate in a 0 92 program
moodys investors service inc rates the unocal notes baa 3 and standard and poors corp rates them bbb minus
but seipp said last year the figure for the first time had topped one billion marks for the parent bank and the group result was around 50 pct higher than this
hospital corp of america said its management believes the 47 dlr per share acquisition offer it received from charles r
the bank of england said it gave the money market a further 191 mln stg assistance in the afternoon session
under the bilzerian proposal the dividend rate on the preferred stock would be set so that in the joint opinion of the financial advisor to bilzerian and the financial advisor to pay n pak the preferred stock would trade at its liquidation value on a fully distributed basis the company said
time said these moves are part of a continuing effort to reduce the average cost of its debt and to increase its financing flexibility
mannville oil and gas ltd mogto 1st qtr net
mcdermott international inc said the purchase of a 54 pct block of its stock was an apparent violation of the laws of panama its country of incorporation
investor david laroche said he has extended his cash offer to buy 170000 shares of neco enterprises inc at 26 dlrs each until april 14
united telecommunications inc 1st qtr shr 13 cts vs 47 cts
pakistan swedish goods exchange agreed
the government bonds are making serious inroads on the private sector companies resources said r
japans ailing shipbuilding industry plans to refloat itself in a few years from the twin rocks of recession and a strong yen through capacity and workforce cuts and greater use of computers industry sources told 
roto rooter inc rotoo 3rd qtr net
the primary market had a steady day with the australian dollar and the yen sectors again seeing the most activity dealers said
analyst rosemarie morbelli of ingalls and snyder said servicemaster companies lp svm or rollins inc rol were examples of companies that could be interested
sun alliance pretax profit 1804 mln stg vs 377 mln for 1986
black and decker corp is raising 100 mln dlrs via an offering of notes due 1997 yielding 840 pct said lead manager first boston corp
they said mexicos new debt package last october marked a 1 16 point drop from its 1985 debt agreement while manilas new pact slashed its 1985 agreement by up to 3 4 percentage points
about one third of the deficit was with japan
twa said it may acquire additional shares in the open market in private transactions through a tender offer or otherwise subject to department of transportation approval
the bonds have an average life of 115 years and are rated a 1 by moodys and a by s p
dealers said that last week a 260 mln dlr trade involving two and 10 year treasuries was transacted on brokers screens
the treasury secretary stressed however it was very important for the main surplus countries to grow as fast as they could consistent with low inflation to resolve trade imbalances
bell group made a similar 75 mln dlr bond issue in december 1985
the sudden crisis between sri lanka and its giant neighbour deepened as prime minister ranasinghe premadasa told parliament we have our territorial limits and nobody can be allowed to trespass there president junius jayewardene has ordered the army navy and air force to protect the island and its territorial waters premadasa said to a round of applause from the house
showboat has saiud it expects to open for regular gaming on friday
us to sell 132 billion dlrs in bills
qtly div 1 1 2 cts vs 1 1 2 cts prior pay march 31 record march 13
ferruzzi plans to set up a sugar division and import some 30000 tonnes of industrial sugar from its french factories in its first year of operation
the decision announced last week would apply higher tariffs on a range of japanese products in retaliation for the alleged failure of tokyo to honor an agreement with the us on semiconductor trade
this sale will fulfill the requirements under our bank agreements to sell certain assets by june 30 and give us additional flexibility in the disposal of the remaining divisions being sold allied stores is required to pay 200 mln dlrs in bank debt by june 30
they were 202 billion in february 1986
a second prospectus relates to a planned public sale of four mln common shares which cdc sold privately to an unidentified investor in december
the group will also ask for authorisation to issue in any currency bonds and warrants for a maximum of ten billion francs and to underwrite the issue of bonds and shares in any currency for a maximum of ten billion francs
new rubber pact appears in the balance
the european community launched an investigation into allegations of dumping by japanese semiconductor makers in a move which diplomats said could mark an intensification of world trade strains
twa twa sees benefits in usair u merger
discount window borrowings in the week to wednesday were 935 mln dlrs a day producing a daily average for the two week statement period of 689 mln dlrs the highest since the week of december 31 1986 and up from 393 mln dlrs previously
withdrawal from the showa aluminium industries kk joint venture had been recapitalised in expansion by the new zealand aluminium smelters ltd project with japans sumitomo aluminium smelting co ltd permitting repayments and increases in liquid funds totalling 165 mln dlrs it said
oil prices said now based on futures price
the assets to be sold under the consent decree consist of bakers domestic oilfield drilling bit business and its domestic submersible electric pump business
lucente an ibm vice president and group executive of the information systems group said in a statement this is an important step toward providing a single ibm marketing and service organization to increase our focus on our customers telecommunications products needs ibm said jack w
the earlier announcement also said american express and shearson were studying options including expansion of capacity to meet international competition and broadening access to capital
delta dal completes western air wal buy
ladd furniture incs clayton marcus furniture subsidiary said it completed the previously announced purchase of privately held colony house furniture inc for an undisclosed amount of cash and notes
union bank of finland issues euroyen bond
the deficiency payment rates for both commodities are the maximum permitted by law the department said
government beef policy protects farmers rather than meeting consumers demands and the cutback is too marginal a housewives association of japan official said
keycorp said the merger is expected to become effective as soon as possible after december 31 1987 the date utahs interstate banking law becomes operational
it was a deterioration in the countrys trade balance which precipitated brazils current debt crisis and the decision on february 20 to suspend interest payments on 68 billion dlrs of commercial debt
nspa also said us soybean meal exports in the week were 117866 tonnes vs 121168 tonnes a week ago and compared with 84250 tonnes in the year ago week
for example the 409 mln barrels discovered in the five years 1980 84 represent about two years consumption he said
citgo said its new posting for west texas intermediate and west texas sour is 19 dlrs a barrel
broking house officials in the sri lankan capital colombo yesterday told pakistan had suspended the licences in order to link tea imports to pakistani exports
the flotation plan has been interpreted by financial analysts as a means of helping finance the acquisition of the cpc business
todays injection of liquidity shows that the bundesbank does not want a further strong rise in the tender allocation rate which is likely to turn out at between 380 and 390 pct little changed from the 385 pct on the last facility
the yen sank below 145 at one point despite intervention by the bank of japan
early redemption is not permitted the bank said
financial news network inc fnni 2nd qtr net
trading profit 2172 mln vs 2111 mln launching costs 476 mln vs 516 mln share of profit of related companies 36 mln vs 34 mln net interest receivable 90 mln vs 124 mln payable extraordinary debit 441 mln vs nil trading profit includes civil aircraft 77 mln loss vs 25 mln loss military aircraft and support services 1460 mln vs 1483 mln guided weapon and electronic systems 1397 mln vs 1278 mln space and communications 19 mln vs 20 mln loss company funded research and development 627 mln loss vs 549 mln reorganisation costs nil vs 56 mln loss launch costs include bae 146 171 mln vs 273 mln airbus 194 mln vs 69 mln bae 125 800 03 mln vs 15 mln atp 108 mln vs 159 mln
endotronics said it was providing documentation to the securities and exchange commission in connection with that agencys investigation
last week licences for 60500 tonnes were awarded at a maximum rebate of 43147 ecus
wholesale prices are likely to turn upward in march as higher world crude oil and raw material prices are expected the bank said
the bank of england said it has forecast a shortage of around 700 mln stg in the system today
but asked whether a bridge loan might be arranged to pay the interest he said it could happen bankers said this possibility had not been raised at the committee meeting and dismissed it as inconsistent with brazils determination to find a long term solution to the problem of servicing its 110 billion dlr foreign debt
bond corp to acquire 80 pct of merlin pete
all but one were british
the 19 pct reserve requirement will only be applied to further increases in banks convertible peseta funds the spokesman said
the economy grew by 53 pct last year up from 41 pct in 1985 ouko said
the agricultural stabilization and conservation service ascs bought 23 mln pounds of peanut products at a cost of 21 mln dlrs and 74 mln pounds of vegetable oil shortening for 20 mln dlrs for domestic distribution april 1 15 and april 16 30 an ascs spokesman said
the european community ran a 182 billion dlr trade deficit with japan last year and seeks redress when it feels japanese trade policy hurts europeans diplomats and economists said
soviet economist says production figures padded
fhlbb changes short term discount note rates
last year france provided its former indian ocean colony with a structural adjustment loan of 160 mln francs
in the january year nbfis borrowings rose by 95 pct from a revised 101 in december and compared with a previous januarys 128 at the end of january broad money stood at 175866 mln dlrs dlrs from decembers 174668 mln dlrs and a january 1986 level of 159453 mln
bank of japan governor satoshi sumita said in a statement the central bank will intervene in foreign exchange markets to stabilise exchange rates if necessary in close cooperation with other major industrial nations
analysts noted that heyman seems to have no problems with financing the transaction
masstor systems corp said it it signed a volume purchase agreement with national westminster bank plc worth up to 73 mln dlrs
apparent confusion in the ranks of the g 5 nations has encouraged the market to challenge the authorities despite concerted intervention by the central banks of the united states japan britain and west germany they said
new zealands current account deficit narrowed to 76 mln nz dlrs in april from a revised 89 mln dlrs in march and 224 mln dlrs in april 1986 in a smoothed seasonally adjusted measurement the statistics department said
mafina issues 200 mln sfr bond with warrants
estimated french barley stocks worrying onic
the company said this was the third consecutive year it has raised its quarterly cash dividend
the restatement was made because of change in the method of accounting for a combination of several company controlled concerns that resulted in a 535 mln dlr charge cooper development said
last week bally said it was considering the sale of another non casino unit its six flags amusement park unit which analysts said could fetch about 300 mln dlrs
arizona silver asc reports on burro creek
manufacturers hanover corp mhc and other banks told texaco it would cut off a one billion dlr credit line texaco said in the court filing
he said it was up to countries that declined to cooperate such as britain to come up with their own proposals if they saw fit
it said the offer for the petroleum products would be open until 0600 gmt on november 19
fleet flt aims to speed merger with norstar
it said the purchase price will be applied against the 1700000 dlrs putnam mills currently owes pope evans for merchandise
the assets stood at 1517 billion dlrs in january last year
moore mcl sees substantial 1987 profit gain
the federal reserve entered the us government securities market to arrange overnight system repurchase agreements a fed spokesman said
twa has said it owns less than 10 pct of usairs stock
key centurion keyc completes acquisitions
associated was one of the major investors participating in the previously reported placement of 1289 mln shares at 375 dlrs each northern star said in a statement
diamond shamrock dia to raise share values
shr profit three cts vs loss seven cts net profit 161000 vs loss 367000 revs 243 mln vs 265 mln
us says no pact on relief for poorest states
usair u in credit pact with commercial banks
this should continue through the second half to enable passenger yields to end the year up 76 pct a strong performance from the 29 billion dlrs in cash under management also improved profits james capel said
shr profit two cts vs loss 16 cts net profit 558000 vs loss 580000 sales 662 mln vs 295 mln avg shrs 4476000 vs 3615000 year shr loss 61 cts vs loss 79 cts net loss 1760000 vs loss 2180000 sales 1584 mln vs 763 mln avg shrs 4475000 vs 2751000
the white house aide said of the tariff action it wasnt done to appease congress but because there was an unfair trade practice the aide added however on another plane it was an example of how the administration uses the trade law to fight unfair practices an that it is not necessary to make a major overall of our trade laws but the analyst crandall said the tariff action was not in the best interests of the united states and that negotiations should have been pursued to resolve the issue
japanese finance minister kiichi miyazawa said the strengthening of the yen against the dollar since the paris agreement was within the range agreed in the louvre discussions
all sales under the credit guarantee lines must be registered and exports completed by september 30 the department said
the prices are ridiculous said julian mateo vice president of costa ricas sugar cane industrial agricultural league
but on may 1 president kenneth kaunda abolished the auctioning system inspired by the international monetary fund and announced zambia would pursue a go it alone economic strategy based on national resources
underwriters are led by union bank of switzerland
based on last weeks events there is little to indicate that the appetite for yield has begun to wane said economists at salomon brothers inc
world oil supply fell through the first quarter by about two bpd to 452 bpd from 475 bpd in the last quarter of 1986
the fourth quarter charges included a 208 mln stg provision on a retroactive price agreement recently initialled by pertamina and japanese buyers of the companys liquid natural gas and 47 mln for the early months of its ownership of gulf canadas marketing assets
the figures are unreservedly good chase manhattan securities economist andrew wroblewski said
dieter said mannesmann would act quickly when and if it found a firm in which it wanted to take a stake
a 0 92 plan however would not be decoupling but simply a different type of acreage diversion program glickman said
seven managers and employees at general mining union corp ltds kinross mines ltd will face charges of culpable homicide following last years disaster when 177 gold miners died the attorney generals office said
the debt talks in new york are being headed by argentine finance minister mario brodersohn and are expected to last for several days
corrected media general inc ups annual div to 68 cts shr from 64 cts sets stock split corrects to show raise in annual div not qtly
henderson said 1987s results would be boosted by glidden paints which ici bought last november for 580 mln dlrs from a unit of hanson industries inc
dna medical inc said walter g
he declined to comment further before the major review of the interim debt agreement regarding the moratorium on principal repayments on 13 billion dlrs of south africas 24 billion dlr external debt
heublin is a subsidiary of grand metropolitan plc gmhll corby said mcguinness will remain a seperate business unit with a seperate sales force
when the dot opens for business on monday morning we will be refiling a perfected and completed section 408 application said twa general counsel mark buckstein
us senate panel votes to limit county loan rate changes starting with 1988 crops
sales to non european community countries rose to 419541 tonnes from 349511 while sales within the ec fell sharply to 29712 tonnes from 86216
taunton savings bank tsbk sets first dividend
most of that surplus this year estimated at around 25 billion dlrs will be swallowed up by repayments on the nations estimated 23 billion dlr foreign debt in terms of an arrangement reached earlier this year with major international creditor banks
capital has a land bank of some 2600 units and in the current year the company expects to sell 500 homes trafalgar house said
the reason was not disclosed
smoke was seen spiralling up from the rostam field soon after
harcourt canadas us parent harcourt brace jovanovich inc hbj indirectly acquired the canadian book publishing companies when it purchased holt rinehart and winston from cbs inc cbs last october
security pacific corp said it is placing medium and long term loans to brazil and ecuador on a non accrual basis as of march 31 a move that will reduce first quarter earnings by 72 mln dlrs or nine cts per share after taxes
b and r posted pretax profit of 855000 dlrs in the year to dec 31 1986 when it had net tangible assets of 563000 dlrs
the question of sales from the original 360000 tonne buffer stock is expected to be the main topic of the council meeting which is scheduled to end on thursday
but other dealers said they doubted the efficacy of central bank intervention saying it may stimulate the dollars decline because many dealers are likely to await such dollar buying intervention as a chance to sell dollars
yesterday gaf said a group led by chairman samuel j
financial holding company nord est is issuing a 3929 mln franc 625 pct five year domestic bond convertible into shares an announcement in the official bulletin balo said
mickelberry corp mbc 4th qtr net
industrial nations reconvene for talks
usxs subsidiary marathon petroleum co said it will raise its contract prices for eleven grades of crude oil 50 cts a barrel effective tomorrow
the situation is different in comparison to three five or ten years ago we can produce more he said
but under the 1987 plan the government will not pick up the tab for storage
arab heavy dropped 10 cts to 1663 dlrs a barrel and dubai was off 12 cts to 1809 dlrs
talking point viacom international via 
in addition tendering and non tendering investors will receive the bonds may one interest payment in common stock
ny traders say soviets made large sugar purchase
the accord runs till 1999
there was now a reasonable alignment of currencies and the uk government intended to keep sterling at about its present level he said
the company said it hoped to resolve its debt problems in the near future
the debtentures will settle on march 10 1987
hutton would maintain a majority interest in purolator
canadian narrowly defined money supply m 1 fell 116 billion dlrs to 3294 billion dlrs in week ended march 11 bank of canada said
k tel international inc 2nd qtr dec 31 loss
there was balance between the purchase and sale of foreign securities the statement added
terms were not disclosed
finnish wholesale prices rose 02 pct in february after a rise of one pct in january and a drop of 12 pct in february 1986 the central statistical office said
shr nine cts vs 19 cts net 188000 vs 362000 revs 204 mln vs 113 mln note1985 restated for reversal of certain tax benefits
it declined to provide further details
stonecipher said the companys product will be marketed through at least two ich subsidiaries
the pantherella board estimates the company which manufactures socks will show a 1986 pretax profit of about 690000 stg
divi hotels nv dvh 3rd qtr net
shr 63 cts vs 50 cts net 738 mln vs 623 mln sales 6642 mln vs 6006 mln nine mths shr 206 dlrs vs 167 dlrs net 2412 mln vs 2059 mln sales 204 billion vs 180 billion avg shrs 1171 mln vs 1234 mln
feb 28 oper shr six cts vs two cts oper net 189683 vs 47499 revs 2874930 vs 2594574 note prior year net excludes 33000 dlr tax credit
service corp international srv 3rd qtr net
public service co of north carolina inc said its board raised the quarterly dividend to 23 cts per share from 22 1 2 cts previously as adjusted for a two for one stock split that takes effect april 27
he noted that the board has sold more than three mln tonnes to japan in the past three years
moodys said it would assess the companys future financing flexibility in light of current negotiations of existing credit and loan agreements
in its sec filing the firm said it intends to acquire more stock and may attempt to influence management of the company to make major changes in the companys business or corporate structure siebel said it made net purchases of 163200 coopervision shares since jan
such plans allow foreign bank creditors to sell third world debt at a discount to investors who then become stockholders in firms in these countries
latin american officials here said citicorps move would probably boost trading of discounted third world debt in the secondary market implicitly downvaluing the amount owed
rainier rban completes acquisition
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
their problems are not just limited to energy
as of march six only 353 shares of cyclops 41 mln outstanding shares had been tendered
in the first two months of the year partial operating profit excluding trading on the banks own account declined he said without giving details
some of these proposals are likely to take some time to put into effect the sources said
shr 44 cts vs not given net 3499000 vs 2295000 note converted to stock ownership aug 1 1986
dynascan dynao completes management buyout
van lanschot bankiers is a subsidiary of van lanschot beleggingscompagnie bv in which britains national westminster bank plc and dutch cooperative bank rabobank nederland ba each have a 40 pct stake
military experts said washington is putting strong pressure on tokyo to buy a us plane either the mcdonnell douglas corp f 18 or general dynamics corp f 16 to reduce japans huge trade surplus with the us it might be a good idea to jointly produce planes with us makers as japan is supported by the us defence umbrella iida said
international aero engines iae 30 pct owned by united technologies pratt and whitney division has decided not to launch a superfan version of its v2500 engine
researchers measured the fat content of the seven muscles before cooking and the fat moisture and tenderness of cooked boneless rib chops
fees are 3 8 pct each for management and underwriting and 1 1 4 pct for selling
including acceptances loans dropped 134 billion dlrs to 6323 billion
swiss sight deposits rise 310 billion francs
japan trade surplus will grow again in 1987 oecd
m a r c inc marco 2nd qtr sept 30 net
shr 104 dlrs vs 87 cts net 777 mln vs 642 mln revs 5337 mln vs 4618 mln avg shrs 747 mln vs 739 mln nine mths shr 335 dlrs vs 263 dlrs net 2495 mln vs 1939 mln revs 163 billion vs 136 billion avg shrs 745 mln vs 738 mln
assets of us money funds fell 7024 mln dlrs in latest week to 23575 billion
as a result the number of shares outstanding will increase to 102 mln from 68 mln the maker of industrial equipment said
government and commodity sources also said there are elements in the usda most notably undersecretary daniel amstutz who remain opposed to a wheat subsidy to the soviets
qtr ends feb 28 shr six cts vs three cts net 189683 vs 80499 revs 2874930 vs 2594474 note full name hospital staffing services inc
banque paribas will act for carburos metalicos while union carbide frances bid is being led by rothschild et associes banque
among the bank issues never rated publicly are long term debt securities of lloyds bank plc allied irish banks bank of ireland and bank of scotland
the issue has a coupon of 9 1 8 pct matures on april 7 1994 and is priced at 101 pct
leigh pemberton said he recognised there are some who would argue that interest rates are still too high and deter investment in industry
the federal reserve entered the us government securities market to arrange 15 billion dlrs of customer repurchase agreements a fed spokesman said
some 7000 miners go on strike in south africa
shr profit seven cts vs loss 177 dlrs net profit 446000 vs loss 9370000 revs 150 mln vs 133 mln six mths shr profit eight cts vs loss 187 dlrs net profit 523000 vs loss 9883000 revs 271 mln vs 271 mln avg shrs 5324464 vs 5324350 note trillium telephone systems inc
it anticipates the turnaround will contine and that profitability with be restored
blockbuster bbec to acquire licensee
essentially it is a flat performance said warren jestin deputy chief economist at the bank of nova scotia
kuwait is also looking at flagging out to european registries the officials said
indonesian stocks as of april 1 however are put at only 65000 tonnes compared with 160000 a year ago
taft broadcasting co stock rose almost three points today as its vice chairman and an investment group proposed to sweeten a takeover offer for the company
the deal is scheduled to close by the end of june the company said
century telephone enterprises inc said it has accepted an offer to sell its cable television properties in michigan tennessee florida arkansas and louisiana for a substantial gain
lincoln national corp lnc votes dividend
this is a major undertaking and a process that would spread out over next year he said
danish crops are up to two weeks behind normal growth levels due to the cold weather in may and june when mean temperatures were up to four centigrade below average the state plant cultivation bureau said in a report
japanese commercial creditor banks confirmed an earlier commitment to extend some 360 mln dlrs in new loans to argentina banking sources said
san paolo di torino cuts prime rate to 1250 pct from 1300 pct official
consolidated bathurst inc said it expects improvement in the pulp and paper sector shown in the second half of 1986 to continue this year
it had been 380 90 on friday
terms of the agreement were not disclosed
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
the average price for the three month bills was 98488 and prices ranged from 98504 to 98486
the deal is callable immediately at 106 for the first three years declining by one pct per year each year thereafter
bass group emerges as possible taft tfb bidders
cyacq said financial projections it developed for cyclops were materially lower than the financial projections provided by cyclops to dixons group
in determining whether to participate a producer would need to weigh the expected cash costs of production against the loan rate the risk that market prices may rise above the expected levels and reduce the deficiency payment also must be considered according to the analysis
the financing is to be replaced with permanent financing expected to come from banks
the report said the firmness in oil prices was likely to continue in the short term
kenyan minister forecasts economic expansion
paz estenssoro froze public sector wages set a market related rate for the peso introduced tax reforms and laid off thousands of workers in state corporations
dealers said the bundesbank would want to inject enough liquidity in this weeks pact to keep short term rates down
us officials have also said the sale would give fujitsu a powerful role in the us market for supercomputers while japans supercomputer market remains closed to us sales
delmed inc dmd year loss
bankhaus centrale credit with 31 branches had total assets of 927 mln marks at year end 1986
damage insurances made losses mainly due to car damage insurances
french economists including cheval at indosuez agreed with the report
the newspaper yesterday quoted highly placed sources as saying the state owned zambia consolidated copper mines zccm was diverting its mineral exports away from south africa but it did not say which alternative routes were being used
oil world said it did not expect the european community ec to introduce a vegetable oils tax but if such a tax were introduced it would have a negative impact on ec consumption
but now fed officials will have to wait for the first quarter real us gross national product data in april to sort things out
talks between management and unions at cargill uk ltds oilseed processing plant at seaforth adjourned today without a solution to the three month old strike a company spokesman said
but he added the gillette board has to be careful
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
merrill lynch economists raymond stone and ward mccarthy said that while the fundamentals generally bode for a healthy investment climate the market will have no confidence in this environment until there is illumination of and confidence in us dollar trade policy
us dot approves american amr aci acf pact
both rainbows and progressives boards have approved the merger proposal
london exchange declines comment on merrill case
asian cocoa producers are expanding output despite depressed world prices and they dismiss suggestions in the london market that their cocoa is inferior
the non callable bonds will be listed in luxembourg and will be issued in denominations of 1000 and 10000 dlrs
we know theyd buy more beef if they had the opportunity lyng said
purolator had traded above the hutton offer price on speculation a new bidder would emerge
since 1982 shell has acquired two billion dlrs in new reserves including 470 mln barrels of oil equivalent at a net cost of 280 dlrs a barrel he said
todd also said the collective bargaining division in effect at its galveston division expires april 17 and negotiations with the galveston metal trades council are continuing
the british printing and communication corp plc bpll is considering selling its specialist packaging and labelling operations a spokeswoman said
soo line said in january it was seeking bids for the property
louis dreyfus 3700 tonnes same corn for may 10 june 5 at 7568 dlrs fob gulf
shr loss 26 cts vs loss six cts net loss 535110 vs loss 129433 revs 787000 vs 622130
william dannemeyer a california republican to require the us to pay investors one pct for the right to hold their gold investments in government storage
miyazawa said the paris currency accord among six major industrial nations last month does not necessarily mean the yen should stay stable around current levels in the future
a fourth national spokesman said the deal was for cash but would not disclose the amount
a major misunderstanding is that the private report was government policy
under the proposal which would be undertaken as a court approved plan of arrangement shareholders of murphy oil co ltd of calgary alberta canada would be offered the option to receive 31 dlrs canadian a share cash or the equivalent market value of common shares of the parent company
it would not be the kind of issue that the president or the chairman would get into specific negotiations or discussions about lyng said
a group of new york investors said it lowered its stake in rospatch corp to 170250 shares or 70 pct of the total outstanding common stock from 202108 shares or 83 pct
borealis exploration ltd said it entered into an agreement with faraway gold mines ltd of vancouver british columbia under which faraway will acquire an interest in borealiss whale cove gold property in the keewatin district of the northwest territories
us senate republican leader robert dole r kan said he and a group of republican lawmakers are considering introducing legislation to extend the ethanol tax exemption through the year 2000
safeway stores inc said it agreed to sell the assets and operations of its salt lake city division to bormans inc under undisclosed terms
covenant corp initial public offering of two mln shares of common stock including 1543916 being sold by current holders at an estimated 1100 to 1250 dlrs each through first boston corp
he said part of this would be the normal loss inevitable in harvesting but that most of it would stem from storage problems
but it faces stiff opposition in the house banking committee which has blocked its consideration by the house in the past
they said about nine vlccs of iranian crude have been sold to western traders with pricing based 60 pct on the official price and 40 pct on spot prices or with part of the price related to processing arrangements
convertible yen bond brokerage fee may be cut
the case is being appealed to the us appeals court
the mint said that firms in submitting their offers select to receive payment by standard check or be wire transfer
geriatric and medical centers inc gemc payout
it was a bad investment for them
goh said local banks want to restore the prime to 6 1 2 pct the level at beginning of 1987
american motors said directors took no action on chrysler proposal postpones annual meeting
charter federal jefferson savings agree to merge
in addition upwards of 100 billion dlrs in capital flight is estimated to have left the region during that time
in the annual report chairman robert reuss told shareholders telephone profits will continued to be limited by ceilings imposed by regulators as well as deregulation and structural changes within the industry that have slowed growth in the investment base for setting rates
the bill permanently extended the authorization for federal housing authority mortgage insurnce
traders are assessing whether to require cash prepayment or letters of credit or to continue to trade as usual with texaco on an open line basis he said
the feasibility study anticipated gold production of 49600 ounces a year at a cost of 129 canadian dlrs a short ton they said
does this mean that the fed abandons its current open market position no sullivan said
no reason was given for the recent sales
fed funds were trading at 5 15 16 pct at the time of the indirect injection of temporary reserves dealers said
at that time the stock purchase portion was worth close to 80 dlrs per share but now that portion is worth 53 dlrs per share for a net price of 68 dlrs one analyst said
additionally the citicorp unit and audio video have increased their commitments to cyacq to 185 mln dlrs
solv ex corp said it successfully completed its oil sands pilot testing program under its agreement with shell canada limited shc and received a 250000 us dlr bonus payment
a spokesman for schlumberger declined to elaborate on the companys news release
cie financiere de paribas paripa 1986 year
dixons boosts cyclops cyl ownership to 83 pct
but the plaza accord did not set any target for the dollars fall he said
lawson said the us should embark on a gradual reduction of its fiscal deficits over the next two or three years he said the february 22 louvre accord had produced satisfactory exchange rate stability in part thanks to heavy coordinated intervention of group of seven central banks and he was content with sterlings exchange rate
argyll shares were up 12p to 440 firming before the announcement
gencorp takes no action on stock dividend
the menu must become richer the banker said
money market dealers noted that call money continued to normalize today falling to 360 70 pct from 375 85 yesterday and as much as five pct on friday when it was pushed up by month end distortions
mining minister jaimie villalobos told in la paz that bolivia expected to export about 9000 tonnes of tin in calendar 1987
habbel said the us sales decline would probably bottom out in 1987
some 10000 pitmen in the northern province of leon entered the second day of an indefinite stoppage to demand wage rises and a five day working week the sources said
austria is making a two billion schilling issue of floating rate treasury notes carrying interest of 1 8th of a point over the three month vienna interbank offered rate vibor lead manager oesterreichische laenderbank ag olbvvi said
the notes will be issued in any maturity of between seven and 364 days and the funds will be used for the companys general financing requirements
freedom federal savings bank said it hired salomon brothers inc to solicit offers for the purchase of the bank as part of an ongoing review of methods to enhance shareholder value
american express says its holding talks on sale of shearson stake to nippon life
guardian trustco did not give a specific earnings forecast
until now foreign investor interest in the gilt market has been one of the major reasons behind the rise in sterling
one trader said some west african producers are annoyed the buffer stock manager is not playing his part as required by the international cocoa pact to stabilise prices from current lows
ministers also agreed a 35 billion dlrs scheme to rid the ec of its butter mountain despite spanish and portuguese opposition
officials expect the waterway to lose nine to ten mln canadian dlrs this year about the same as the estimated deficit for fiscal 1986 87 which ends today
he said there was virtually no room for further monetary policy action to boost the economy
oak hill sportswear corp ohsc 4th qtr net
the commodity credit corporation ccc has authorized 20 mln dlrs in credit guarantees to cover sales of seeds for planting to algeria the us agriculture department said
the outlook is more worrying than it was a few weeks ago said societe generale economist alain marais
the fund estimated world output would only grow by 27 pct this year versus 29 pct last year and 31 pct in 1985
the plaintfiffs counsel are seeking fees of up to 10 cts per share jones and vining said
an investor group led by new york investor george soros said it was dissatisfied with fairchild industries inc management and was considering boosting its holdings to as much as 499 pct of the aerospace and aviation companys outstanding stock
sedgwick buys bsi incorp
navistar international corp chairman donald lennox repeated that benefits from recapitalization are likely to boost future earnings for fiscal 1987
the administration should communicate to the european community the message that the united states will view the establishment of such a tax as inconsistent with the european communitys obligations under the general agreement on tariffs and trade that will result in the adoption of strong and immediate countermeasures the resolution stated
the company said accounts will be moved into other transohio offices
manufactured homes inc mnh year net
the federal reserve entered the us government securities market to arrange 15 billion dlrs of customer repurchase agreements a fed spokesman said
for its fiscal year ended july 31 caesars world reported net income of 41 mln dlrs or 136 dlrs per primary share
malaysia has come under pressure from some producers to join the pact soon officials said but they noted that it need not rush to do so as there are provisions which allow countries to join the agreement even at a later date
correction duesseldorf north rhine westphalia in duesseldorf item north rhine westphalia issues 12 billion mark bond please read in second paragraph payment date is april 7 and the bond matures corrects payment date from april 17
payment date is april 10
however stocks were well below the 282 mln held at the end of january
lyng has no comment on wheat subsidy to soviets
shr 108 dlrs vs 88 cts net 409000000 vs 328000000 revs 1219 billion vs 1117 billion avg shrs 3782 mln vs 3684 mln nine mths shr 286 dlrs vs 217 dlrs net 109 billion vs 8083 mln revs 3439 billion vs 3131 billion avg shrs 3777 mln vs 3662 mln
joseph jamail a houston attorney for pennzoil said the company had made its latest settlement offer to texaco on saturday and was taken by surprise when texaco filed for bankruptcy
aqazadeh arrived last night after a brief stopover in riyadh where he met saudi arabias oil minister hisham nazir
nl industries inc nl set regular payout
shr 78 cts vs one dlr net 1413000 vs 1776000 assets 7053 mln vs 5973 mln deposits 4956 mln vs 4939 mln loans 2600 mln vs 3797 mln qtly div six cts vs six cts prior qtr pay april 1 record march 6 note 1986 net includes charges from accounting changes from one time expenses associated with a proxy contest and an increase in loan reserves
at this time last year it operated 4100 specialty stores garofalo said
they benefited considerably from the pickup in loan demand as their loan portfolio is well balanced an analyst at mansion house securities fe ltd said
canada may monitor steel shipments
turnover at 37 billion guilders in 1986 was 450 mln guilders down because of the lower dollar and lower raw material prices
bank of japan governor satoshi sumita said a further yen rise would have adverse effects on the japanese economy
meanwhile the market is awaiting results of an algerian import tender which took place over the weekend for about 10000 tonnes of refined vegetable oils in drums traders added
it added it had a two for one stock split in may 1986
hedging during the lme ring sessions becomes much simpler with a dollar contract
bha group inc bhago 2nd qtr march 31 net
gaf corp is studying an agreement under which merrill lynch capital partners will take borg warner corp private in a 423 billion dlr transaction a gaf spokesman said
valero natural gas vlp offering underway
guadalco has a processing capacity of 250 tonnes a day of sunflower seeds and 12000 tonnes a day of raw cotton
bormans brf to buy safeways utah division
wallace computer services inc wcs 2nd qtr net
fao sees lower global wheat grain output in 1987
american express was trading today at 78 1 4 off 3 8
other gatt countries will be nervous about china in this respect
canadian foremost ltd year net
he added that the deficit for the year ending march 1988 could be much higher than the governments 13 billion dlr forecast
coopervision inc eye told the securities and exchange commission it has acquired 1420500 shares of cooper lasersonics inc or 65 pct of the total outstanding common stock
montana power co mtp votes quarterly dividend
the new zealand government will sell 25 pct of state owned air new zealand ltd to the public civil aviation minister richard prebble said
adding piedmont dominant in the southeast to the mix would develop an even stronger force
shr two cts vs na net 68281 revs 639471 note company became public in march 1987
cra ltd 1986 net profit 1382 mln dlrs vs 878 mln
analysts expect it will now extend or raise slightly the current ceiling for the coming months
continued low crude oil prices would continue to subdue us exploration activity
qtly div ten cts vs ten cts pay april 15 record april 1
shr five cts vs 20 cts qtly div two cts vs two cts prior net 223000 vs 1418000 sales 153 mln vs 171 mln year shr 61 cts vs 81 cts net 3106000 vs 5940000 sales 630 mln vs 595 mln note 1986 net includes tax credits of 63000 dlrs in quarter and 1365000 dlrs in year
allied signal ald to sell linotype unit
the plan is being developed in conjunction with the ecgd and the bank of england
nigeria especially found its gasoline rich bonny light crude now opecs highest priced grade at 1892 dlrs a barrel was uncompetitive on the spot market against britains brent
no one doubts the bank of japan is serious
the company said proceeds from this sale together with the sale of the remaining coal assets should allow it to fully recover its investment in the operations
first interstate said net proceeds would be used principally to fund investments in or extensions of credit to the companys subsidiaries or to repay loans incurred for such purposes
shr 31 cts vs 53 cts net 42 mln vs 71 mln revs 161 mln vs 272 mln
amoskeag bank shares inc and portsmouth savings bank said they will file motions for a rehearing with the new hampshire supreme court of its march 30 ruling that overturned state regulatory approval of amoskeags acquisition portsmouth
hertz realty corp is issuing a 75 mln canadian dlr bond due april 30 1993 paying nine pct and priced at 100 3 4 pct syndicate sources said
economists had been expecting the fed to do this because of the need to offset seasonal factors expected to drain reserves heavily over the next few weeks
the placer development ltd offshoot which operates australias largest gold mine in north queensland earlier reported net profit rose to 6050 mln dlrs from 5076 mln in the 1985 period of 10 months from the start of production
rexham corp rxh 1st qtr net
banco santander to buy west germanys cc bank
results benefitted from cost cutting and higher volumes
i think it is possible that there may be scope for a further reduction in interest rates in germany he added but stressed that he had had no indication that such a move was likely
this compares with the banks estimate that the system would face a shortage of around 400 mln stg today
the proposal is described by its promoters as a stabilisation program which would penalise a new sector going into massive overproduction and complement proposals to cut cereals and dairy production rather than a straight forward tax
the dollar subsequently hovered at 14755 65 yen
the meeting was unveiled as part of a plan to boost imports and help head off protectionist legislation in the us senior officials from the ministry of international trade and industry told reporters that such personal appeals appeared to have paid off in the past as japanese imports of manufactured goods have climbed
the united states appears to have lost sight of the us asean memorandum of understanding it said
chrysler made 98648 us cars in march down from 115540 last year
the sources said they could not estimate the total volume to be purchased for april shipping because japans crushing program for april and june is unclear
a limited belgian issue of silver ecu coins with a face value of five ecus will go on sale from march 23 at a price of 500 belgian francs each a finance ministry spokesman said
communaute urbaine de montreal is issuing a 75 mln canadian dlr bond due april 22 1997 carrying a coupon of 8 7 8 pct and priced at 101 5 8 banque nationale de paris said as lead manager
first albany and wheat first co managed the deal which was reduced from an initial offering of 30 mln dlrs
american motors board will consider the chrysler bid again this friday at a regularly scheduled board meeting
shr profit nil vs profit five cts net profit 9879 vs profit 118852 revs 1581894 vs 1878052 avg shrs 2627952 vs 2617090 nine mths shr loss two cts vs profit 24 cts net loss 51001 vs profit 619860 revs 4006024 vs 6646587 avg shrs 2532959 vs 2621397 note nine mth orders 4601463 dlrs up 39 pct and backlog at end of period 4906670 dlrs up 83 pct from a year before
once the first tranche of its new six billion dlr loan is drawn down in the second quarter mexico will still only have enough reserves to pay for imports and debt service for four or five months gurria noted
1986 net includes tax crdits of 2942000 dlrs in quarter and 2729000 dlrs in year
tseng posted total revenues for 1986 of 4255731 and net income of 258125 or 14 cts per share
mobil france to take 10 pct stake in primagaz
wessanen now has 15 separate businesses in the us out of a total of 62 world wide
the move is designed by the government to improve indias trade deficit
she noted that most of the reductions in soybean acres came in southeastern states where yields are usually low
managing board chairman dieter spethmann told the annual meeting the group was satisfied with profit developments in the first half of the 1986 87 financial year to september 30
edelman cuts lucky stores lks stake to 48 pct
were considering it he said its one of those dinosaur laws and i think its time has come
revising the definition of infested to give equal value to all insects injurious to grain
it is making the tender offer through nm rothschilds
the 1986 total excluded extraordinary gains of 563 mln dlrs partly from the sale of some of its stake in the south china morning post the leading english language newspaper compared with 369 mln dlrs the previous year
he added that federal reserve board chairman paul volcker has also been very outspoken in suggesting main trading partners grow as fast as they can
the purchase price was not disclosed
share after preferred dividends
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
sigma mines details gold ore reserves
no casualties were seen and the tanker pivot laden with crude oil was towed towards dubai by tugs after they put out the fire the sources said
honduras will tender april 13 under public law 480 for us and non us flag vessels to deliver approximately 52500 tonnes of various wheats in bulk an agent for the country said
in the 1987 first quarter american can will record a one time gain of 28 cts per share from the sale of shares in its musicland group subsidiary
david ob
the west german cocoa grind rose 29 pct to 55190 tonnes in the first quarter of 1987 from 53643 tonnes in the same quarter of of 1986 the bonn based confectionery industry association said in a statement
rainbow and equiticorp place ultramar stake
henderson said the major new products in the companys pipeline expected to each bring in sales of over 200 mln dlrs annually were statil a treatment for diabetic complications zoladex a treatment for advanced prostate cancer and carwin a treatment for mild to moderate congestive heart failure
note final div deferred for tax advantage until after july 1 but not expected to be less than nine cents interim seven net after tax 8238 mln vs 9592 mln depreciation and amortisation 9329 mln vs 7619 mln interest 9094 mln vs 11649 mln minorities nil vs loss 10000 but before extraordinary loss 649 mln vs loss 5340 mln
usg corp is raising 200 mln dlrs through an offering of debentures due 2017 yielding 877 pct said lead manager salomon brothers inc
qtly div 35 cts vs 35 cts prior payable march 31 record march nine
us grain certs save 50 100 mln dlrs amstutz
in return the united states waived its right to impose import duties on the japanese microchips
trelleborg take larger slice of boliden
uk oil industry said not permanently damaged
oper shr 49 cts vs 22 cts oper net 1018000 vs 468000 sales 950 mln vs 983 mln note net excludes tax credits of 284000 dlrs vs 310000 dlrs
our all in cost was comparable
he said the deficit on invisible trade narrowed to 740 mln us dlrs from 197 billion
the newspaper said that air atlanta which flies to 11 us cities has a fleet of five boeing jets with passenger capacity of 110 and employs 400 people is making losses
they will be aided in 1987 by an expected slight rise in economic growth in industrial countries
the currency has risen about 25 pct in the past three months to its current rate of 2950 cents due partly to signs of a possible power shift with the appearance of a number of independent candidates in the whites only election on may 6 they added
tie communications inc tie 4th qtr loss
todd shipyards corp said production workers represented by the multi union pacific coast metal trades district council at its san francisco division struck on april six
the minimum amount of each tranche to be sold will be one billion francs
guillevin international inc year jan 31 net
for its summer 1987 programme it would be adding 127 extra flights to european destinations an increase of 27 pct
such a method would make canadian resource industries vulnerable to similar penalties like a 15 pct export tax imposed last january on shipments of canadian softwood lumber to the us zimmerman added
hungary to devalue forint against western units
cummins engine cum sees improved earnings
they said that shultzs comments while not explicitly endorsing subsidized wheat sales to the ussr were noteworthy because they were not negative towards such action
it was not immediately clear what impact the denial would have on twas bid to take over usair
us exports of edible groundnuts could fall to 185000 tonnes in the year to september 1987 from 248000 in the same 1986 period trading company tracomin sa said
the commonwealth bank of australia said it was preparing a 500 mln dlr commercial paper facility aimed at establishing a new australian dollar denominated paper market in asia
finally it will ask for authorisation to issue certificates of deposit for a maximum of ten billion francs and to underwrite a similar maximum amount of certificates of deposit in all currencies
it has retained barclays de zoete wedd to advise on the introduction of independent investors to subscribe for additional capital and believes that the proportion of equity capital held by outside investors would not exceed 20 pct of the total
printronix inc ptnxo 2nd qtr sept 25 net
near may in new york fell below one dlr in early trading at around 9910 cents per pound traders said
two or three years ago a showdown between the worlds largest debtor and its largest creditors would have sent shock waves through the financial markets
trilon financial corp said it declared a stock dividend of one class a share for each two class a shares held payable may 15 to shareholders of record on april 30
michael pointed out however that trimming the us trade deficit the ultimate aim of the recent meeting of major industrial countries may not necessarily aid bond prices
oper shr 74 cts vs 30 cts oper net 3034000 vs 1225000 note 1987 operating net excludes credits of 1043000 dlrs or 25 cts a share
they said major japanese investors in the past two years are estimated to have held 50 to 80 pct of their foreign portfolios in us bonds but many have lightened their us bond inventory to as low as 40 pct
toromont industries ltd year net
in the tender offer blocked by the court zico offered to buy 500000 shares or about 22 pct of bancrofts outstanding stock for 30 dlrs a share
if the saudis wish to stop our trade relationship fine i am sure that if they do we will be getting dozens of offers from elsewhere santana added
us bank net free reserves 660 mln dlrs in two weeks to march 11 fed says
gem managing director pieter van der vorm said the facilities were 40 pct operational
greyhound said gli is authorized to continue using the familiar running dog logo on a red white and blue shield while greyhound corp will continue to use the running dog alone as its symbol
total trade reached 290 mln dlrs last year up 32 pct on 1985 according to chinese statistics
kingdom of sweden is issuing a 100 mln stg bond due april 15 1997 carrying a coupon of 9 1 2 pct and priced at 101 1 4 said baring brothers and co ltd as lead manager
but their dislike of taxes exceeded their general dislike of spending programs
work on a second drill below 4000 meters would start soon in the bay of gabes the statement said
shr loss 94 cts vs profit 28 cts net loss 6319337 vs profit 1702016 revs 2899513 vs 5239106 note 1986 net includes 5250000 dlr writedown of oil and gas properties
the facility fee for example was 1 8 pct compared with the 1 16 pct bp paid on a recent 15 billion dlr refinancing
the ec commission has proposed a tax of up to 330 european currency units ecus a tonne on both imported and ec produced vegetable and marine fats for human consumption which could raise up to two billion ecus a year
certainteed corp is seeking a 150 mln dlr multiple facility which will incorporate a revolving credit and allow the borrower to issue short term advances euronotes and euro commercial paper on an uncommitted basis chemical bank international said as arranger
the loan to be lead managed by the bank of china is expected to mature in eight to nine years but terms have not been finalized
noranda to spin off forest interests into separate company
shr loss 85 cts vs loss 136 dlrs net loss 1653386 vs loss 2646876 year shr loss 12 cts vs loss 130 dlrs net loss 236469 vs loss 2522293 note year net includes realized investment gains of 734609 dlrs vs 645438 dlrs
talking before his departure for paris he said there could be no question of brazil adopting another imf austerity plan after a similar package four years ago put brazil in a very big recession we had an imf program it simply meant export more and import less
at a rally in this city about 100 km northwest of sao paulo about 5000 bank workers voted to strike on march 24 unless their demand for 100 pct pay rises is met
np energy corp said the us bankruptcy court has indicated it will appoint a trustee to oversee the companys chapter 11 bankruptcy proceedings
is said that afterwards reebok will have bank credit lines available for general corporate purposes including possible acquisitions
analysts said phelps dodge corp pd will be a strong performer because it is the largest us copper producer
senate finance committee chairman lloyd bentsen told the senate the measure was not aimed at retaliation but at correcting japans unfair trade practices
marshall has been named president and co chief executive officer sharing power in the latter post with founder and chairman nolan k
beet output last season of 155 mln tonnes yielded a higher than expected 172 mln tonnes of white sugar
a farm secondary market would allow lenders to sell high quality loans on farmland to poolers who in turn would package the loans and issue farm mortgage backed securities for resale to investors called aggie mae by some proponents
bosworth said the united states strongly supports manilas bid to put its international financial situation in order and that the private bank creditors were aware of that
shr 165 dlrs vs 150 dlrs net 5370000 vs 4901000 rev 84 mln vs 78 mln note 1986 net gain from property investments 717000 dlrs or 22 cts per share vs 721000 dlrs or 22 cts per share
oper shr 130 dlrs vs 151 dlrs oper net 406 mln vs 417 mln sales 1463 mln vs 1559 mln note 1985 excludes extraordinary loss of 745 mln dlrs or 270 dlrs per share
analysts have been divided on whether it makes sense for american express to give up a stake in the wholly owned brokerage which improved its after tax earnings by about 50 pct in the last year
the notes are guaranteed by fuji bank ltd
and if we starve the nation of essential services there may be no one around to honour the debt aquino said her officials would try to get all 483 creditor banks to sign the debt rescheduling pact by the november 15 effective date
canada ruling on us corn injury due this week
ecuador to export no oil for 4 months official
the unadjusted deficit on invisibles was 215 mln dlrs against 204 mln in january and 249 mln in february 1986
oper shr loss 31 cts vs profit three cts oper net loss 887886 vs profit 646250 revs 9724418 vs 108 mln note year ago oper net excludes tax credit of 230000 dlrs
it said the interest margin over london interbank offered rates libor for the committed advances will be based on the total utilisation of the facility 175 basis points for up to one third 20 basis points for up to two thirds and 225 points for an amount above that level
convergent technologies inc said it has reached an agreement in principle to buy oakleaf corp which supplies finance insurance and leasing computers to auto dealers
safecard services sfcd sets split ups payout
it will apply to list the notes on the new york stock exchange
it said the recognition comes as a result of repayment of a loan which was granted when the complex was sold
with the recent stabilisation of the us dollar however foreign investors have begun to back away from the market as hopes of further currency gains in marks diminish
other ec countries would be authorised to use stocks of food for which they have already applied under the scheme up to april 30
there will be two co leads
the market has not approached the old price limits and trading is relative quiet in narrow ranges he said
in a filing with the securities and exchange commission harris said it sold 68000 bell common shares between dec 18 and feb 20 at prices ranging from 2025 to 2524 dlrs each
strong daily fundamentals may add to nearby support while the current discount of deferred months to the cash market may offset much of the effect of the report analysts said
in fiscal 1986 the company earned 7206000 dlrs or 278 dlrs a share
it does not even figure in the countrys foreign trade policy
in a letter to gencorp chairman and chief executive a
pea sowings are estimated likely to rise 277 pct to 350000 ha against 274000 while field bean sowings are forecast unchanged at 40000
duff phelps lowers delmarva power and light dew 
toussie group sells hecks hex shares
the dollar will be pushed down until there is coordinated central bank intervention one dealer for a german bank said echoing widepread sentiment in the market
it is guaranteed by mitsui bank ltd
what is needed is an anchor or reference point that can serve as a guide for both domestic and international monetary purposes says heller
these certificates will provide ample free supplies of corn and wheat for the remainder of the crop year the department said in a summary of its agricultural outlook report
initial products to be developed will be gate arrays with 500 to 2500 gate complexity and radiation hardening capabilities the company said
and air canada is on the verge of going that way he said
fed expected to add reserves
since the debtor countries must look to the wealthier states for markets for their products as well as financial assistance economic weakness in the developed nations economies poses fundamental worries
brazil cancels oil purchase from saudi arabia
silver prices in march gained some 15 pct in dlr terms due to a weak dollar and silver is felt to be fairly cheap relative to gold montagu said in its monthly silver newsletter
the us appears to have lost sight of the us asean memorandum of understanding the chamber said
it was a review of the fate of the mexican deal and of others that followed it for chile venezuela the philippines and argentina that helped to convince reed that the debt crisis was not about to be solved and that citicorp needed to bolster its reserves in case some of the loans went bad
miyazawa said major nations are trying hard to stabilize exchange rates
the refiners said the increase is needed because the quota is so restrictive there could be some spot shortages of sugar in the us later this year a refiner spokesman said
petroleum operations are to be carried out by pertamina as operator through a joint operating body established by the two companies the pertamina spokesman stated
the purchase included 51880 tonnes for may shipment and 73843 tonnes for june shipment
26 weeks ended dec 28 net shr 259 cents vs 282 int div 55 cents vs 50 pre tax 4830 mln dlrs vs 4429 mln net 2594 mln vs 2535 mln turnover 45328 mln vs 40735 mln other income 448 mln vs 318 mln shrs 100 mln vs 90 mln
shr 45 cts vs 64 cts net 578 mln vs 794 mln nine mths shr 153 dlrs vs 187 dlrs net 1958 mln vs 2289 mln
but even if german banking authorities agree with some of the assessments of swaps they disagree on how to find balance sheet equivalents for the risk
the company had said the offer was inadequate and that it was exploring restructuring or sale of the company to another party
the officials said that when the plaza agreement took place the dollar was already on its way down
the trade believes the international coffee organization ico is unlikely to tackle the re introduction of quotas before its september meeting and until then the market will not see any unexpected sharp moves in either direction
we project free world dependence on persian gulf oil at 65 pct by 1995 herrington said
ansbacher shares were up 4 1 2p to 90 1 2 helped by the announcement earlier today of a 1986 pretax profit rise to 556 mln stg from 274 mln in 1985
the bank of spain earlier this month imposed a 19 pct reserve requirement on new convertible peseta funds held by banks to curb short term speculative capital from abroad
in a newspaper advertisement the company said the offer is conditioned on received of at least 51 pct of harper and rows shares
electromagnetic sciences inc elmgo 1st qtr
honeywell reported 1987 first quarter operating earnings rose to 437 mln dlrs or 96 cts a share from 364 mln dlrs or 79 cts in the same period a year ago
ncr ncr continues to expect earnings growth
the legislation was prompted by a growing us trade deficit that hit 156 billion dlrs last year and is still rising
qtly div class b 1 1 2 cts vs 1 1 2 cts prior class a two cts vs two cts prior pay april 30 record april 15
a miti official said that while japan is faithfully abiding by the agreement problems remain in halting the sale of microchips in europe and southeast asia at prices below those set by the pact
lukman said qatar nigeria saudi arabia and iran had all produced in february below their opec quotas
miyazawa expects dollar rebound soon spokesman
beginning 1990 they were to receive semi annual interest payments at an annual rate of 16 pct
their japanese buying over the course of the last six months has been very much concentrated in the medium term maturities noted one canadian bond trader who asked not to be identified
national intergroup nii unit files for offer
atcor atco says outlook depends on steel
telecom tele completes sale
instead merchant banks advising bidding companies must show restraint and responsibility to avoid the excesses that have marred recent takeovers he told the yorkshire and humberside regional confederation of british industries annual dinner
the spokesman said bp will not suffer supply shortages as a result of the explosion as it will be able to bring in product from other sources
blue arrow shares were trading 9p lower at 670 this morning
three geographically diverse droughts in asia are being linked by some scientists to a reintensification of the complex and little understood el nino weather pattern accu weather inc a commercial weather forecasting service said
the company said that by year end 1987 it intends to complete the repurchase of 33 mln shares remaining of a five mln share buyback program which began in 1986
the bond is available in denominations of one mln yen and will be listed in luxembourg
wheat prices were pressured by selling in response to trends on price charts they said
ec annual inflation falls in may
paton reports us green coffee roastings higher
gulf canada goc acquires suez oil stake
extraordinary items amounted to a 113 mln debit after a 165 mln debit previously
some countries like argentina are pursuing anti inflation programs
the federal reserve is not expected to intervene in the us government securities market to add or drain reserves economists said
browing ferris bfi declares 2 for 1 split
britain is considering how to retaliate against japans attempt to prevent cable and wireless from taking a major position in a japanese international telecommunications venture
electro rent corp elrc 3rd qtr feb 28 net
with the heavy tax drain in march banks are likely to remain cautious about taking more liquidity out of reserves than is absolutely necessary
last week underwoods shares rose 49p to 237p ahead of any announcement of the talks
it would surely be foolish to put that favourable conjuncture at risk by lowering interest rates prematurely or excessively he said
baker noted that the benefits of a weaker currency take 12 to 18 months to affect the trade balance and said it is now 18 months since the plaza agreement to lower the dollars value
princeville pvdc gets letter of credit
american recreation centers inc amrc 3rd qtr
shell transport and trading plc scl shares the uk arm of the group rose to 1139 stg from a close last night of 1106 stg
tagaris founded the company which produces precision data acquisition conversion and control components and subsystems in 1970
the united states is considering the request to temporarily transfer kuwaiti ships to american registration but such a move could create insurance and other problems the officials said
there were indications of improvement in the huge imbalance between the volume of goods imported to the united states and those shipped abroad
shareholders are better off if we grow the business rather than reinvest in dividends or share repurchases he said
st lawrence seaway to open on schedule
agriculture ministry officials said they are not considering cuts in import duties on chocolate to help ease friction with the united states over agricultural trade
wolverine said it will concentrate its effort in the athletic footwear market in its brooks footwear division
in its weekly petroleum status report the energy department agency said distillate demand was down 22 pct in the period to 333 mln bpd from 340 mln a year earlier
it gave no further details
oil world said substantial losses of soviet winter grain area due to recent severe frosts were probably behind the recent pick up in soviet purchases of us corn
brazil crop weather summary usda noaa
new prices for 015 gm lead grades are 970 cents litre for 97 octane and 908 cents for 95 octane
fruit of the loom inc said it agreed to sell its general battery corp subsidiary to exide corp for about 145 mln dlrs in cash
it gave no further details
dart said it was to fund up to five mln dlrs for top managements supplemental retirement plan
the agreement was made during a meeting here last week between algerias entreprise nationale des non ferreux et substances utiles enof and spains almaden to discuss the market situation
both he and tinker said this factor should help keep input costs down over the next few months although tinker added that last years fall in oil prices is now about to drop out of the year on year comparisons and is likely to lead to a return to rises in the index rather than falls
kahan said his early estimate for first quarter growth is around three pct due largely to a buildup in inventories reflected in the january inventory data friday which showed the largest increase since 1979
the debentures are convertible into the companys common stock at 4850 dlrs per share representing a premium of 236 pct over the stock price when terms on the debt were set
of this amount a total of 150000 tonnes was exported by march 1 they said
shr 20 cts vs 16 cts net 5849000 vs 4630000 revs 338 mln vs 271 mln nine mths shr 41 cts vs 40 cts net 119 mln vs 115 mln revs 846 mln vs 772 mln
between 1984 and 1986 on the recommendation of the council 13 oil companies were integrated into 11 companies within seven refining and marketing groups to improve the efficiency of the industry
the officials said the study has been inaccurate so far and they said japan would comment on the final results
american express cos axp recent launch of a new optima credit card with relatively low interest rates and fees will increase competition with bank credit card issuers but will not lead to a pricing war a senior citicorp offical said
the shares in the trust formerly represented shares of transworld corp common stock
exovir inc said it sold to an investor group led by mark hammer 200000 shares of company common stock and warrants to purchase an additional 200000 shares
john porter r ill
the company said a preliminary estimate of the geological resources of one of the properties to a depth of 200 meters indicates a potential of 12 mln ounces of gold and by the middle of 1987 it expects to establish proven ore reserves containing at least 500000 ounces of gold
wells fargo and co wfc raises quarterly div
the additional output would be related to plans now under discussion for venezuela and mexico to lend ecuador crude while it repairs a pipeline damaged by the quake
im very positive on gm said jack kirnan of kidder peabody and co
while relatively unsuccessful the scale of intervention between so many nations is unprecedented in recent years
it said the move was needed because of distortions in the foreign exchange market
loblaw said it plans to file a preliminary prospectus relating to the issue in all provinces of canada
it takes effect tomorrow and lifts restrictions on rates now limited to six pct on deposits of up to 180 days
they will be issued in denominations of 1000 and 10000 dlrs and listed in luxembourg
unadjusted the revised index was down 23 pct from a year earlier after a 21 pct year on year drop in december
the soybean crop for this season was not adjusted remaining at a record 75 mln to 77 mln tonnes up 42 to 55 pct on the 72 mln to 73 mln estimated by private sources for 1985 86 and 56 to 85 pct higher than the official figure of 71 mln
consideration of the buffer stock rules is the most controversial topic on the agenda delegates said
unlike amro algemene bank nederland nv abn says this is a price the dutch have to pay
according to the revised data there were 94000 jobless in february representing 22 pct of the workforce against 120000 or 28 pct of the workforce in february 1986
shr 27 cts vs 14 cts net 5664000 vs 2812000 revs 682 mln vs 547 mln avg shrs 21254054 vs 20167714
romero said he would also visit oxford universitys department of agricultural economics to discuss ways of avoiding the copra process altogether
cashin said the sale will result in a significant profit and places renouf in a good position to consolidate on recent transactions and pursue other opportunities
canada building permits rise in november
foundation cuts wurlitzer wur stake
shr 22 cts vs 12 cts net 3243000 vs 1656000 revs 284 mln vs 215 mln note all amts reflect 3 for 2 stock split of companys common in form of 50 pct stock dividend paid feb 26 1987
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
norbert tanghe head of division of the commissions directorate general for agriculture told the 8th antwerp oils and fats contact days the commission firmly believes that the sacrifices which would be undergone by community producers in the oils and fats sector would justify asking consumers to make an appropriate contribution to solving the serious problem within that sector by paying a levy the proposed tax is necessary because the level of budgetary costs resulting from olive oil and oilseeds production has become unacceptable tanghe said
we sincerely hope for some type of agreement among the worlds major grain producing nations to reduce stocks and restore profitability to agriculture miller said
but many experts say opec should change prices quarterly or monthly to match seasonal demand for fuel oil rich heavy crudes and gasoline rich lighter grades
global petroleum corp said today it raised its posted prices for numbers six fuel cargoes in the new york harbor 70 cts to 160 dlrs per barrel depending on grade
there would accordingly be a two step procedure whereby it would need just a 35 pct vote to delay loan approval for a year after which a second review would require a 40 pct blocking vote
orders especially from abroad were also falling sharply for capital goods in the electronics sector it added
new harding group inc formerly harding carpets ltd said it declared its first dividend since fiscal 1978 of 10 cts per subordinate voting share and multiple voting share pay april 15 record april 8
but some bank economists said the lower rating would increase the cost of national borrowing to finance the external current account deficit which rose to a record 345 billion crowns in 1986
bermuda star line inc said it has leased a 23500 ton passenger vessel from orley shipping co inc of liberia for a term with options extending for 15 years
the company said it has already been contacted by several potential buyers
it said the sharp decline in oil prices during 1986 was the most significant factor for norcens reduced performance
brazilian farmers also need cash flow and they cant afford to store the crops he said
it said the bodies were made on presses used for bertones steel structured sports cars
employees also get one free share for each one bought if the shares are held for at least one year
genstar sale boosts belgian societe generale net
it put the 1985 86 crop at 7810 mln tonnes vs 7810 mln tonnes last month
saudi arabia has dropped its condition that brazil secure international bank guarantees before saudia arabia would ship it oil state oil company petrobras said in a statement
for the week as a whole the borrowing was split roughly evenly between the large regionals and the small banks
during the last week of april silver futures traded up and down the price limit in the back months causing traders to rush into the spot contract to offset those moves analysts said
among the host of amendments to restrict imports approved by the panel the most significant would require quotas on imports of goods containing more than 25 pct of a bulk farm product that is subject to us quotas
the issue price will be 10175 pct of the principal
us secretary of agriculture richard lyng said in a letter to ec officials that us retaliatory measures would cover more than agricultural products if the tax was imposed bennett said
issuing and paying agent is first chicago clearing centre
metro mobile cts inc said it declared a 10 pct stock dividend
the third project to improve refinery efficiency reduce energy consumption and increase crude oil processing capacity will be supported by a 21 mln dlr loan
sprinkel said that compared with fiscal 1978 the 1986 federal expenditure share of gnp is 27 percentage points higher and the revenue share of gnp is virtually the same
taiwan central bank issues certificates of deposit
he said about 10 banks are likely to finish details of the project in a few weeks
he said a budget process that sets targets arbitrarily is not likely to succeed
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
uk chancellor of the exchequer nigel lawson said he wanted sterling to stay roughly where it was specifying a rate of around 290 marks and 160 dlrs
a company spokesman declined to comment further on the investigation
in 1985 adnoc marketed a total of 476000 bpd of crude oil and 72 mln tonnes of refined products
if these credit lines were cut we would face difficulties to honour our foreign debt in the future funaro said
the company said demand for its deskpro 386 portable iii and the new compaq deskpro 286 will contribute to the sales increase
capacity is around 150000 bpd
sterivet stvtf sets three for one share split
paperboard to sell 93 mln dlrs of notes
iran selling discounted crude japan traders say
payment terms vary depending on the type of service provided a southwestern spokesman said
cardis also said it expects to report a loss in excess of five mln dlrs for its first fiscal quarter ended jan 31 1987 on approximate revenues of 58 mlns dlrs
the iranian spokesman was quoted by tehran radio as saying the us was trying to build up its military presence in the region
the farm they bought back a few years ago is being sold back to the americans goldston morris said
saying many will be suprised by the results he believes ge has shown through its acquisition of rca corp that it has a unique ability to buy a major business and reshape it pruning some parts and recombining parts with other elements of its 14 business areas
they will be determined
hogan systems inc said it acquired systems 4 inc of durango colo for 17 mln dlrs
venezuela agreed last friday with its 13 bank advisory committee to lower the interest margin to 7 8 pct over libor from 1 1 8 and reduce amortisations in the next three years to 135 billion dlrs from 335 billion
market forecasts are for a deficit of around 250 mln stg after januarys small surplus
bundesbank president karl otto poehl told a closed investment symposium that west germany could cut leading interest rates again if the united states makes a similar move banking sources said
last month the company announced that pretax profits rose in 1986 to 120 mln stg from 81 mln the year before
standard chartered plc stchl 1986 year
the soviet economy recovered slightly last month after a poor performance in january but major industries including oil and machinery are still short of production targets official figures show
in 1983 84 an outbreak of avian influenza in pennsylvania maryland virginia and new jersey cost taxpayers 65 mln dlrs to control and required the destruction of more than 17 mln birds it said
rank xerox south africa was founded in 1964 as a wholly owned unit of rank xerox the xerox affiliate that manufactures and markets xerox products in the eastern hemisphere
the loan is convertible into an additional 229463 dim shares it noted
pittston pco agrees to acquire wtc waf 
japanese short term interest rates buoyed recently by seasonal factors are likely to fall from the beginning of april when the new financial year begins money traders said
we are continually monitoring the whole nationwide structure to maintain its accuracy he said
singapores m 1 money supply rose 27 pct in january to 1009 billion singapore dlrs after a 37 pct increase in december the monetary authority of singapore said
the international swap dealers association has developed the first standard form contract for use by arrangers of currency and interest rate swap transactions said thomas jasper the associations co chairman
henderson also speculated the company might attempt a restructuring such as the one carried out by goodyear tire and rubber co last year when it was being courted by sir james goldsmith
he added that telecom plus communications was the largest independent supplier of telephone exchange systems in the us and had turnover of 234 mln dlrs in 1986
us trade representative clayton yeutter had announced the intended action on january 2
if this is the case the three month cd rate will stay above four pct for the time being he said
operators took bakers comment to indicate impatience with some g 7 members for failing to stick to the louvre accord due to their fears of increasing inflation
southern national corp snat sets stock split
hughes chairman wa kistler told reporters that hughes did not want to sign the department of justice consent decree until after bakers submersible pump and drilling bit operations were sold
south korea plans to take steps to keep its 1987 current account surplus below five billion dlrs economic planning board minister kim mahn je said
grain shipments to the ussr usda
bankers trust co is trustee
ny grain freights april 7 yukong took nichiku maru 52000 tonnes north pacific to japan april may dates 975 dlrs 11 days all purposes peavey took maria sitinas 26000 tonnes us gulf to puerto cabello and guanta prompt 1525 dlrs four days load 1500 discharge puerto cabello 1000 guanta portline took sky crest 35000 tonnes us gulf to lisbon spot 1525 dlrs 7000 load 5000 discharge feruzzi took alecos m
the non callable bonds guaranteed by den norske creditbank will be issued in denominations of one mln yen and will be listed in luxembourg
yet you bought almost 10 per cent more from japan last year than you bought from canada he said
distributors have turned a deaf ear to transcos request for an inventory charge which reserves the pipeline facility for spot gas to be delivered to these companies he said
jwp inc jwp 3rd qtr net
image video is scheduled to release 20 video projects in 1987 it said
the associations said the move is subject to approval by the federal home loan bank board and the wisconsin commissioner of savings and loan as well as republics shareholders and pioneers depositors
mining could start in 1988 subject to a satisfactory feasibility study
taft through theta co sent and letter to tafts board of directors stating he was committed to purchasing the broadcasting company and was ready to discuss all aspects of the purchase
exchange rates almost within g 6 levels sumita
the company later sold its 20 pct stock for about 180 mln to 200 mln dlrs according to analysts
cyacq said its new offer is also subject to cyclops rescinding any agreements with dixons under which the uk based firm would receive break up fees or expenses from cyclops or could buy cyclops common stock from the pittsburgh based company
there was widespread confidence a result on the outstanding items could be reached by friday when the council session is due to end consumers said
the locals bargaining committees are expected to meet and prepare for the reopening of negotiations with cominco he said
he said todays raids fall within iraqs policy to deprive iranian rulers of oil revenue used to serve their aggressive aims iraqi planes yesterday raided the nearby ardeshir oil field resuming attacks on iranian targets after a month long lull
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
employment in the non manufacturing sector will continue to increase the institute said without giving figures
also echlin said it had second quarter net income of 118 mln dlrs or 24 cts per share compared with net income of 83 mln dlrs or 20 cts a share in fiscal 1986s second quarter
gemini food corp six mths january 31 net
severel vessels were booked from antwerp hamburg range including a 61000 tonner bound for singapore japan at 7500 dlrs daily and a 16000 tonner destined for west coast india at 5000 dlrs
cooper canada ltd said it has received takeover offers from a number of companies the company also said that discussions are continuing but no definitive arrangements have been made it gave no further details
poland has said it will not be able to meet interest repayments and debt principle falling due this year
sosnoff said he hopes that caesars world management will be willing to negotiate an acquisition agreement with him
the company which went public dec 23 also said it expects to be able to fill back orders from the first two quarters because of improved supply of computer chip components
a tender offer for the outstanding shares will be launched also at 30 dlrs a share for a maximum further cost of 1844 mln
this lead to the widespread assumption that the commission had actually approved the release of 300000 tonnes during the three months of april may and june at last weeks meeting
biw cable systems inc biwc 4th qtr loss
the peking government faces another major obstacle in its efforts to ensure chinas people get enough grain to eat
anz bank plans 100 mln aus dlr euro cp program
russo filled orders for david sofer an israeli citizen who allegedly traded on inside information from nahum vaskevitch head of merrill lynch and cos mer london mergers office
pantera pant and pizza pza agree to merge
denman told reporters that possible retaliation which he warned of in a letter to house ways and means committee chairman dan rostenkowski would not necessarily be on a product for product basis
combined sales of 71300 running bales of cotton 60200 bales for the current season and 11100 bales for 1987 88 season were four fifths higher than the prior weeks level but nine pct below the four week average
but the countrys hard currency trade balance nevertheless fell into a deficit of 5394 mln dlrs from a surplus of 2953 mln in 1986 and 12 billion in 1985
lee ming yi deputy director of the ministrys industrial development and investment centre said the forecast rise is due to planned government incentives and growing willingness among taiwanese to invest abroad
they added the shares are covertible into paine webber groups common stock at a conversion price of 44125 dlrs a share
canadian negotiators agreed to levy the new tax if a us forest industry lobby would drop its request for a countervail duty on imports of canadian softwood lumber
utilicorp united inc said it completed the acquisition of west virginia power from dominion resources for about 21 mln dlrs
the cost was about 65 mln dlrs in cash and paper
we regard this as a test case she told parliament
stockbroker sources said that a likely share offer price of 120 francs would value sogenal at 15 billion francs
1985 oper excludes loss from pension plan liquidation of 631000 and loss from discontinued operations of 1015000
brazil debt official offers resignation
it said the us underwriters have been granted an option to buy from certain selling stockholders up to an additional 900000 shares to cover overallotments
delivery would be by shipping certificate from production facilities designated by the exchange
rank said it did not exclude the possibility of making large as well as small acquisitions
citicorp has estimated its profits for the first quarter would be cut by 50 mln dlrs if it put brazil on a cash basis
the eliminations caused losses of three mln dlrs compared to six mln dlrs in the year
the drop in january is not surprising considering that a significant portion of decembers near record pace was made up of sellers seeking to get favorable capital gains treatment under the old tax laws said the nars john tuccillo
the ministry has given the companies 10 days to accept or decline the proposed shares
in a speech to a womens group here johnson said there is room for stronger domestic growth in those countries strong enough to absorb growth in us export markets johnson also said there was a better alignment of exchange rates now and the paris agreement to stabilize currencies has brought western nations a long way towards establishing that goal
minntech corp said it expects to report loss for its fiscal 1988 first quarter to end june 30 due to start up costs related to a new membrane oxygenator and water filtration products
continental information systems corp cny 2nd
net profit 255 mln swiss francs vs 222 mln turnover 717 mln vs 739 mln cash flow 754 mln vs 581 mln proposed dividend 70 francs vs same note company plans one for two rights issue of 40000 participation certificates of nominal 50 francs
brazil strikes cause government major problems
thus far they have been willing the eic said adding that if japan was deterred from buying us bonds the dollar would collapse
it said the price increases on plate and h pile products will apply to all shipments from uss plants
was planning to take becor for about 2381 mln dlrs
what i was advocating here was more japanese purchases of american goods heller said in response to a question about the dollars weakness in currency markets
australias proposals which aim to reduce us target prices and quarantine us wheat stocks would continue to place the burden of supply adjustment and reform on us farmers they said
sogenal founded in 1881 and nationalised in 1982 is the leading french regional bank and has branches in austria belgium luxembourg east and west germany and switzerland
state officials said the only sectors affected in the past three days were some government building projects railway freight movement and cargo handling in sydneys ports
electro sensors inc else votes extra payout
liberty has total assets of 35 mln dlrs
they told local banks may decide on the increase at this weekends routine meeting of the hong kong association of banks
commerce and planning minister mahbubul haq said in a televised speech the government had also decided to allow duty free import of cotton yarn to make the textile industry more competitive and to link bulk tea imports to the export of pakistani products
this report was commissioned late last year to report on the administrative structure of the ico
official figures show bonds floated by government companies have been heavily oversubscribed
economic spotlight kuwaiti economy
drexel burnham lambert inc will underwrite the sale
mirtone international inc 1st qtr dec 31 net
explaining its request for the amendment siemens informed telecom it had recently become aware of information causing concern with respect to certain accounting and other matters
one even showed interest in buying 45 mln dlrs worth of notes he said
we suspect that one or more of the 20 are leveraged buyout firms said a source close to dart
a similar deal yesterday by toronto dominion priced slightly higher at 5437 pct for an effective yield of 1352 pct was quoted slightly lower at less 137 less 125 pct
while there are pockets where irrigation is not possible most of the wheat crop has access to some water and therefore has emerged from dormancy and is doing well the report said
lawrence inc referring to both brazil and citicorp
telecom plus international inc said siemens ag s siemens information systems wants to amend its agreement to purchase telecoms 65 pct interest in tel plus communications to delay payment of 25 mln dlrs for 11 months
finance minister barend du plessis will announce details at a news conference at 1500 gmt a spokesman said
any trader should recommend his bank against joining the deal said a dealer
shr 18 cts vs 31 cts net 7168000 vs 113 mln sales 4974 mln vs 4756 mln avg shrs 396 mln vs 371 mln year shr 134 dlrs vs 164 dlrs net 522 mln vs 597 mln sales 228 billion vs 207 billion avg shrs 390 mln vs 365 mln note current year net both periods includes charge 2885000 dlrs or seven cts shr from early note retirement and charge seven cts shr from reversal of tax credits
as envisioned by the latter the next move would be for brazil which has delayed payments on its debts to say it does not intend to pay interest for a very long period of time
the bank of england said it has revised its estimate of todays shortfall to around 125 billion stg from 13 billion before taking account of 775 mln stg morning assistance
taiwan overnight bought 450000 tonnes of us number two corn 145 pct moisture for gulf and west coast shipment in 11 cargoes between may and october private export sources said
the diw repeated earlier predictions that gross national product gnp in the first quarter of 1987 would contract in real seasonally adjusted terms against the weak final quarter of last year
foote mineral to merge into rio tinto
but in remarks prepared for the signing ceremony he warned against complacency
the tender offer was to have expired yesterday
it is dwarfed by viacom
treasury balances at the federal reserve rose on april 6 to 4262 billion dlrs from 3876 billion dlrs on the previous business day the treasury said in its latest budget statement
coradian cdino stake acquired by sage
the company will continue to be under the direction of martin woodhead who will report to henry hirschberg president of simon and schusters international group
it will still be half underwritten and half uncommitted but the underwriting margin has been raised to 10 basis points over the australian dollar bank bill rate
the sale expected to close by mid april is subject to certain conditions including board approval at both companies
environmental systems co esc 1st qtr jan 31
the proposals are to be voted on at the march 31 annual meeting
but bankers said they believed the new controls would be ineffective since businessmen could split up remittances into smaller units or simply remit money through taiwans flourishing currency black market
another idea is to include debt under gatt negotiations but cartegena ministers have yet to endorse any proposals
general partners cuts stake in gencorp gy 
tanjug said this years exchange will value 530 mln dlrs
the company said the sales proceeds will be partly used to reduce debt
in france the distillation unit at societe francaise de bps lavera refinery has been closed for maintenance since march 2 and is due to restart early april
the meeting had been expected to go on until tomorrow when the european communitys legal advisers were due to attend but delegates reviewed the progress of the various legal actions today
unctads spokesman said once they have agreed on detailed functions and objectives then the way will be cleared to setting up the body
mannesmann managing board chairman werner dieter told the business weekly wirtschaftswoche in an interview that mannesmann wanted to invest in a us company in order to strengthen its presence on the us market
williams pipeline co took the charge against earnings in 1986 for the removal of more than 500 miles of old pipeline from service and for casualty losses
before seasonal adjustment permits rose to 135500 in september from 128000 in august
eurobonds for texaco inc subsidiaries were unquoted this morning as traders assessed the implications of the companys shock weekend decision to file for bankruptcy under chapter 11 of us bankruptcy laws eurobond dealers said
oracle systems orcl files for offering
progressive savings and loan association prsl said it has agreed in principle to be purchased by far west financial corps far west savings and loan association
kidnapped japanese businessman nobuyuki wakaoji has been released after four months in captivity presidential spokesman teodoro benigno said
gdp which fell 02 pct in november was 21 pct above the december 1985 level the federal agency said
neoax noax to sell novatronics for 20 mln dlrs
matsunaga also advised that the prime minister should be prepared to discuss us japan economic issues
morgan officials declined to disclose the level at which pacific purchased the westpac securities although in late february they were quoted at 85 against an issue price of par
the philippine proposal is very interesting its quite unique and i dont think its something that should be categorically rejected out of hand the official said
qtly dividend 52 1 2 cts vs 52 1 2 cts pay may one record april 17
there has also been a return of interest in industrial investment
health and rehabilitation properties trust said its board declared an initial dividend of 55 cts including 50 cts for the first quarter just ended and five cts from its initial operating period that began december 23
the newspaper quoted pentagon officials as saying the navy would keep the aircraft carrier kitty hawk on station in the arabian sea and the rest of the indian ocean until may three months longer than planned
shipping and military sources in the region have said iran used its southern gulf rigs as bases to launch helicopter and later speedboat attacks on neutral ships in the waterway
the february interim surplus was sharply up from a 96504 mln dlr surplus in the same january period
boston five bfcso neworld nworo to merge
it said narrowing of international interest rate spreads was a major factor in the dollars fall
the texas gulf has always been the dominant market in those counties
in reporting that first half results declined from 650 mln dlrs minorco said the contributions from its 50 pct investment in december 1985 in adobe resources corp was negative as a result of low oil and gas prices
shr three cts vs four cts net 101376 vs 125922 revs 568884 vs 494227
enseco inc ncco 4th qtr loss
oper shr loss 24 cts vs profit 24 cts oper net loss 716000 vs profit 729000 revs 3673000 vs 7826000 avg shrs 2930000 vs 2930000 year oper shr profit nil vs profit 131 dlrs oper net profit 10000 vs profit 3200000 revs 129 mln vs 263 mln avg shrs 2930000 vs 2454521 note net excludes realized investment gains of 2000 dlrs vs 13000 dlrs quarter and 104000 dlrs vs 6000 dlrs year
german exports have in fact been falling in real terms for sometime he said
chock full onuts corp said it filed a registration statement with the securities and exchange commission for a proposed offering of 60 mln dlrs in convertible senior subordinated debentures due 2012
the newspaper said another 33 mln dlr loan was lead managed by citicorp
shr five cts vs 51 cts net 2300000 vs 22500000 revs not given note prior shr and net include 203 mln us dlr gain on sale of equity holdings results in us funds
the contract covers the gebang block contract area
he said money market rates were too high to arrange both the mortgages and hedge profitably
coastal corp said it expected earnings for 1987 to be significantly above profits of 716 mln dlrs last year
pentair inc said it has filed for an offering of two mln shares of cumulative convertible preferred stock at an expected price of 25 dlrs per share through underwriters led by kidder peabody and co inc and piper jaffray and hopwood inc it said proceeds would be used to repay bank debt incurred in the acquisition of mcneil corp last august
lincoln foodservice products inc said it completed purchasing certain assets of redco product line of food slicers cutters and wedgers from the dean alco food prep division of alco foodservice equipment co
it said it also paid out 669 mlndlrs in bonuses to over 93000 hourly and salaried employees and it recently paid out 467 mln dlrs in profit sharing payments to full time employees based on 1986 performance
cash flow continued at a high level being 9506 mln dlrs before capital expenditure against 102 billion in 1985
software ag saga sees weak results
the group balance sheet including for the first time vereinwest overseas finance jersey rose 92 pct to 179 billion marks luckey said
canada plans two bond auctions
the underlying trend indicates the level of recent bank of england intervention on currency markets to curb sterlings strength
french bond committee approves domestic issues totalling 445 billion francs
they concluded that present and prospective progress in implementing the policy undertakings at the louvre and in this statement provided a basis for continuing close cooperation to foster the stability of exchange rates
the split would improve the marketability of the existing certificates chief executive giorgio ghiringhelli told a news conference
fernald declined to identify the other party involved in the talks
it said it expects the courier market to grow by about 25 to 30 pct a year
rapid american completes k mart km store buy
total brass mill shipments increased to 69600 tons in january from 54400 tons in december while receipts rose to 63800 tons from 47100 tons
american express co said it and its shearson lehman brothers inc subsidiary have been holding talks on the possible equity investment in shearson lehman by nippon life insurance co of japan
an official at minero peru comercial minpeco perus state minerals marketing firm confirmed there had been no declaration of force majeure on the shipments from cobriza
the operation will put outstanding bill supply at about 4300 billion yen they said
but dealers and economists said the bundesbank was unlikely to encourage lower rates in the foreseeable future largely for fear of upsetting the current wage round
gradual warming continued in most regions of western soviet union in the week ended april 4 the joint agricultural weather facility of the us agriculture and commerce departments said
japanese banks are expected to give nigerian debt negotiators a cool response when they arrive here tomorrow for talks banking sources said
ibm said net income fell to 785 mln dlrs or 130 dlrs a share from 102 billion dlrs or 165 dlrs on about 18 pct fewer shares outstanding
but even with similar production man expects cuban exports to be significantly down
oper shr 26 cts vs not given oper net 866000 vs 480000 note 1987 net excludes 157000 dlr gain from termination of pension plan
at issue is whether the western unions would continue to represent western employees after the integration of the two airlines
central bank special drawing right holdings were 282 billion crowns compared with 289 billion in december and 213 billion a year ago
the rate was cut last year to 1220 from 1275 pct
the talks followed an earlier round between the two trading blocs here last september and the first ever direct talks between the ec and the soviet union on establishing diplomatic relations in january
the sorghum harvest reached between nine and 11 pct of total planted area compared to four to six pct a week ago
it said proceeds will be used for acquisitions
this move heralded by some sources as a measure that gives all parties more time frightened others who see it as the beginning of a tit for tat exercise that could lead to complete unraveling of the monetary system
two new yen issues were features on an otherwise quiet primary market
we grew basically 100 pct last year im not sure were going to be able to grow 100 pct again this year but we certainly will grow at least 50 pct over last year takefman said
the growth in imports appears to be flattening even if januarys bad weather had curbed consumer spending on overseas goods and import intensive stock building among manufactureres harwood said
bond prices jumped as much as 1 4 point in the initial reaction to the news
the price index for sales of manufactured goods in the uk rose a provisional unadjusted 03 pct in march after an identical rise in february department of trade and industry figures show
net interest payable 72 mln vs 68 mln making 208 mln vs 203 mln
johnson and johnson said the sweetner is being jointly developed with tate and lyle plc tatl tate and lyle is seeking approval in canada the united kingdom and other european countries johnson and johnson said
qtly div five cts vs five cts pay may 22 record may 8
china is a major copper importer
sure the fed bought dollars near the 150 yen level in january
there are about 199 mln shares outstanding on a presplit basis it said
it said bankruptcies in texas were up 574 pct oklahoma 559 pct colorado 558 pct and louisiana 466 pct
yeutter said the trade bill should increase us competitiveness aid us trade negotiating leverage and avoid provoking foreign retaliation
hughes tool co said its board voted at a special meeting last night to approve a new agreement with regulators that would allow the company to complete its proposed merger with baker international corp bko the agreement approved by the us department of justice yesterday will give the merged company baker hughes six months instead of three to sell certain assets
proceeds will be used to terminate the companys current revolving credit facility
analogic corp alog 2nd qtr jan 31 net
chrysler will be challenged to integrate these facilities and the distribution network it is acquiring s and p said
danish central bank cuts overnight money market interest rate to 105 pct from 11 pct official
more
treasury secretary james baker and office of management and budget chief james miller defended an administration plan to sell the us naval petroleum reserves
figures for the coming temporao might be distorted upwards by the inclusion of undeclared current main crop beans
gros said he will also formally ask the banks for a 90 day rollover of some 96 billion dlrs of debt which originally matured in 1986 and is now due to be repaid on april 15
uk wheat and barley exports adjusted upwards
it said the amount of notes originally issued totaled 60 mln dlrs
a twister in lubbock yesterday damaged six mobile homes and two houses
the cable program said a buyout of outboard would be for up to 40 dlrs a share or for a total of 680 mln dlrs
but this has been going on for a long time and no one pays any attention to the second figure the 151 billion dlr february trade deficit compared with a revised january deficit of 123 billion dlrs
american motors corp said its directors reviewed a chrysler corp merger proposal but took no action on it
treasurys mulford says g 6 has no currency target zones ranges
earlier webcor reported a third quarter net loss of 18 mln dlrs and nine months net loss of 40 mln dlrs
the second 200 mln franc 12 year bond led by ccbp will be issued at 99 pct with interest also based on tam with the same coupon payment date
transworld liquidating trust said it will distribute proceeds from the sale of hilton international co to ual inc ual to its holders on april 8
codelco and madeco have formed the chilean wrought copper company to take a 50 pct stake in a new company called peking santiago tube company with the chinese holding the other half
tokyos foreign exchange market is watching nervously to see if the us dollar will drop below the significant 14000 yen level dealers said
china gets world bank loan for fertilizer
doe issues offer to buy alaska power unit
standard and poors corp said it downgraded 360 mln dlrs of debt of fluor corp and its units fluor finance nv and st
handy and harman said 22800000 ounces of silver were used to produce coins last year up from 12700000 ounces in 1985 with the demand getting a big boost from the production of us coins including the american eagle
the economys performance in the future very much depends on fiscal policy he added
they said it was likely rain combined with high winds uprooted many sunflower and maize plants
us treasurys baker says commercial bank loans to developing countries too slow
computrac inc said it expects first quarter earnings to be down 50 to 60 pct from a year ago
science accessories corp said it has ended talks on acquiring privately held owl electronics laborarories inc because it could not reach satisfactory terms
spethmann said engineering turnover would not be lower this year but lower steel prices would result in a drop in steel turnover and sales volume
co managers are banque bruxelles lambert ka wah bank kyowa bank saitama bank sanwa bank and yasuda trust and banking co ltd
the men were accused of conspiring to bribe government officials and defaud the social security administration
burmese paddy production lower in 1986 87
sand technology sndcf mulling reverse split
schweizerische aluminium ag aluzz alusuisse plans further drastic cuts in its aluminium smelting capacity and more concentration of higher value added products chief executive hans jucker said
citibank na is issuing up to 50000 currency warrants which give the holder a call right on us dollars from marks or yen citicorp investment bank ltd said as sole manager
preussag cut its 1985 dividend to eight marks from nine marks on 1984 results after parent company net profit dropped to 650 mln marks from 1030 mln the year before
economists cut austrian gdp growth forecast
first chicago corps american national bank unit said it completed the acquisition of four suburban chicago banks with combined assets of about 231 mln dlrs
all we ask is for our companies to be given similar opportunities he added
j and j snack jjsf to sell convertible debt
lynch lgl plans offer for becor bcw stock
kohl made clear the dismantling would mainly hit german farmers who without mcas would find it much more difficult to export to weaker currency states which means virtually all other 11 ec states diplomats said
it will be guaranteed by parent company equiticorp holdings ltd of new zealand the managers said
shr 31 cts vs 26 cts net 3308000 vs 1512000 revs 6467000 vs 2590000 avg shrs 107 mln vs 5788594 nine mths shr 132 dlrs vs 117 dlrs net 102 mln vs 3041000 revs 187 mln vs 5682000 avg shrs 107 mln vs 3780626
polysar in joint venture on finland latex plant
it said first federal is located in kearn county northeast of los angeles and has assets of 130 mln dlrs
a consortium 50 pct owned by teck and 25 pct each by mim canada inc and metallgesellschaft canada ltd acquired its cominco stake last year from canadian pacific ltd cp
an imf world bank team will visit colombo next month to start negotiations on details of a three year economic reform programme
it said it received a 3695465 dlr return of capital and 572406 dlrs in income on the sale and the 50 ct distribution would represent a 43294 ct return of principal and a 6706 ct capital gain and would be payable june 30 to holders of record may 31
the 10 1 2 pct notes had been priced at par
the major target of the japanese government is to maintain the yen at above 150 at least for the rest of the year he told reporters during a brief visit to malaysia
deutsche bank unit issues 75 mln stg eurobond
jesse helms r nc former chairman of the senate agriculture committee
hongkong bank and hang seng bank control half of all deposits in the banking system giving them access to a large base of low cost funds
exports in 1985 86 196 vs 196 last month
indeed talk persisted last week that japanese investors are planning to re weight their portfolios in favour of the higher yielding markets at the start of japans new fiscal year on april 1
concord fabrics inc cis 3rd qtr oper net
taiwans trade surplus with the us rose to 136 billion us dlrs last year compared with 102 billion in 1985
yields are adjustable annually and linked to those on 12 month treasury bills
in its annual report and in a briefing for reporters the bank made it clear however that the latin countries needed vast amounts of new investment if they are to strengthen their ailing economies in the period ahead
us bond trading is likely to remain cautious in the near term with a possible downward price bias as market participants focus on trends in the dollar the economy and federal reserve policy economists said
fletcher challenge ltd fcl managing director hugh fletcher said he was disappointed that rada corp ltd had decided to sell its shares in nz forest products ltd nzfp to australias amcor ltd he said in a statement that fcl had made an offer for the 24 pct of nzfp held by rada
he was speaking at the swearing in of c
us prepared to escort kuwaiti tankers
the executives would also get cash settlements of options plans and continuation of insurance and other benefits
both are owned by hk hotels
i am expecting sanctions at least and even more than sanctions sen
usda reports corn sold to ussr taiwan
danish trade in balance in february
the paper would be issued at a discount and guaranteed by the australian government hand said
bank and finance company downgrades outpaced upgrades by 16 to 6 respectively
the commerzbank statement added the distributable profit last year rose to 2282 mln marks from 1617 mln in 1985
sales in local currency terms were up by 14 pct with market share increases in the united states and japan
the united states defended its sales of stockpiled tin in 1986 in reaction to criticism from malaysian miners who have said it violated an agreement with southeast asian producers
triangle microwave makes microwave components
the uae together with the much smaller producer ecuador was also producing above quota in the first days of march the survey reveals
the malaysian government said it raised the export duty on processed palm oil ppo to 7090 ringgit per tonne from 6406 in march effective today
hadson corp said it completed the acquisition of 85 pct of the seaxe energy corps seaxo common stock for 182415 shares of hadsons stock
several japanese firms have already taken 10 to 30 pct shares in smaller us high technology firms such as super minicomputer makers he said
it added that any federal taxes owed on the transaction will be offset by operating loss carryovers
jordan sudan sign 100 mln dlr barter trade pact
hankes added that the national pork producers council will work to save farmers and keep credit available but not to save or create any one credit system
nederlandse gasunie in 328 billion yen loan deal
usda orange juice yield estimate
french exports to nigeria were 342 billion francs in 1986 down from 494 billion in 1985 while nigerias exports to france were 563 billion francs in 1986 down from 1533 billion in 1985
analyst edward johnson of johnson redbook associates said sales for february rose between six and 65 pct compared to a 36 pct increase last year
the last series of six month paper issued in january raised 1596 mln francs at 98392 pct to give an average yield of 3251 pct
turnover in the uk government bond gilt market in february slipped to 8125 billion stg from januarys 8337 billion although it was 165 pct higher than the 3063 billion in february 1986 the stock exchange said
qtly div five pct stock vs five pct stock pay april 16 record april six
the shipment period required was not specified
sources close to italys gruppo ferruzzi said european sugar france a french company owned by ferruzzi would take over control of cpc industrial division the corn wet milling business acquired by the italian group earlier this week from cpc international inc cpc the sources told that european sugar owned by ferruzzi subsidiary eridania zuccherifici nazionali spa erdimi planned to seek a listing on the paris bourse and make a share offering there
the sources said the commissions view was made clear at a meeting of its sugar management committee today
rephs board has appointed a special committee to negotiate terms of the proposed merger pesch said
he told a general assembly of frances oilseeds federation ffcop that a suppression of monthly increases of oilseed support prices for example was unacceptable
rockwood holding co rkwd 4th qtr net
thai zinc exports fall in march
de keersmaeker who chaired a meeting of ec farm ministers which ended today was asked about reports enough countries were against the tax to ensure that it would be defeated in negotiations on the ec farm price package for 1987 88
tanghe said the proposed system conforms with general agreement on tariffs and trade gatt rules
diamond shamrock said it raised the contract price it will pay for crude oil 50 cts a barrel effective today
painewebber pwj unit ups shaer shoe shs stake
the company which announced a net non consolidated profit of 531 billion francs compared with 282 billion in 1985 said its current profits rose by 19 pct last year without giving further figures
a sinking fund starts in 1994 to retire 75 pct of the notes by maturity
singapore which is the first port warehouse outside europe to be used as an lme delivery point will be used for high grade metal only and the rent imposed by owners steinweg will be 105 us dlr a tonne per week the lme said
they said the biggest was bci holdings 235 billion dlr offering on april 10 1986
uk chancellor of the exchequer nigel lawson welcomed on monday the reaffirmation by the us and west germany of the louvre accord aimed at stabilising currencies
the el nino does not always produce the same effects and the present occurrence is much less pronounced than the last major event in 1982 83 it said
ec officials said while the lack of growth may have been due in part to the icy weather which gripped large parts of the ec in january it also reflects a worrying trend
german finance ministry confident of maintaining currency stability at around current levels spokesman
the all suite residence inn system which is geated to extended stays currently has 93 open franchised or company owned hotels nationwide and another 55 in construction or development
one trader said malaysian cocoa is virtually indistinguishable from west african output if treated in the same way but this is not possible on the larger malaysian estates
the rise in february real earnings resulted from a 05 pct increase in average hourly earnings and a 06 pct increase in average weekly hours
revs for qtr include life subsidiary account deposits of 548538 vs 241465 and for year of 2104840 vs 300404
the net position of public authorities at the bundesbank declined 67 billion marks in the last week of february
new york bank discount window borrowings 64 mln dlrs in feb 25 week
the governments gnp growth target for 1987 is five pct the same level it had set for 1986
the company added that in 1986 its return on equity reached 173 pct up from 155 pct in 1985 and close to its goal of 18 pct
deb shops inc debs sets stock split
lyng plans to ask japan to open the door to rice imports by partially lifting the longstanding ban on foreign purchases
asked what opecs output level was now he replied below 158 mln barrels per day he did not elaborate
soviet purchases to date may not be far short of that quantity czarnikow said
the payout of existing preferred shareholders will be completed just before next months initial distribution to common shareholders continental added
remarks by japans prime minister yasuhiro nakasone that last months g 6 meeting agreed to stabilize the dollar above 150 yen have come too late to influence currency trading dealers said
bills are pending in congress to move up the final feedgrain deficiency payment to as soon as five months after harvest as possible rather than the current year lag time
the most sophisticated ones wouldnt buy these because the premiums are too high he said
the new facility replaces old 11 day advances totalling 65 billion guilders at the same rate
it assigned a ccc plus rating to hyponexs 150 mln dlrs of senior subordinated debentures due 1999 that were priced wednesday for offering
magma copper co a subsidiary of newmont mining corp said it is cutting its copper cathode price by 075 cent to 66 cents a lb effective immediately
second national building snbl raises dividend
but even a net loss of this magnitude has very little bearing on the day to day operations of dome chairman macdonald said
s and p assigned a bbb plus rating to hechingers planned 100 mln dlr issue of convertible debt due 2012
a sinking fund starting in 1998 to retire annually five pct of the debentures can be upped by 200 pct at the companys option giving them an estimated minimum life of 1385 years and maximum of 205 years
asked however if the bundesbank could move to cut rates on repurchase agreements at the setting of the next repurchase tender due next tuesday schlesinger said since the central bank council gives its opinion on this theme only every 14 days this is hardly probable responding to the question whether the bundesbank had moved away from a policy of targetting monetary growth toward one of targetting currency rates schlesinger said he could have no comment on the subject while negotiations were still in progress in washington
coastal corp cgp said it raised the postings of crude oil 50 cts a barrel across the board effective yesterday june 17
french estimate 86 87 wheat deliveries unchanged
for income gdp the year on year rise was 26 pct against against three pct a year earlier
the company last changed its crude postings on jan 12
investment group raises robeson rbsn stake
the international finance corp is privately placing a 50 mln dlr bond due april 7 1997 carrying a 7 5 8 pct coupon and priced at 99 3 4 pct bank of tokyo international ltd said as sole lead manager for the issue
but rates were likely to tighten again as soon as the full effect of this months major tax payment period is felt
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
bayou also reported net loss of three cts or 23024 dlrs for the fourth quarter compared with a net income of 10128 dlrs or one cts a year
crs sirrine plans major restructuring write off of up 43 mln dlrs
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
however operating results are likely to remain under pressure in the first quarter ending april 30 it said
the policies of the open door and economic development outlined in 1979 will not change although there may be fluctuations in speed
he said narjes told him there appeared no fundamental barriers to ec states quickly ratifying the new international rubber agreement inra although translations of the accord into some ec languages are still being awaited
in order to encourage the construction of additional smelters aluminium prices will need to settle at a higher level
conference chairman manaspas xuto of thailand has said it was imperative to settle outstanding issues this week so that technical drafting work can be done next week
interest payments on the notes will be made semiannually in us dlrs starting on sept 20 1987 sallie mae said
reference new york grain freights 1 of april 8 ship brokers say the vessel fixed by cam from the great lakes to algeria at 28 dlrs is reported to be the vamand wave
centel cnt sells debentures at 9233 pct
iceland needs to try harder to implement its new economic strategy if any more progress is to be made towards sustained and balanced non inflationary growth the oecd said
the option is exercisable in the event that another party were to acquire 20 pct or more of chemlawn by means other than a tender offer for all shares at a higher price than ecolab is offering
singapore m 1 money supply 27 pct up in january
several other takeover proposals have crumbled following declines in financial markets leading to speculation that edelman might also drop his offer
the bank of japan will sell tomorrow 200 billion yen of financing bills under a 50 day repurchase agreement maturing on may 2 to help absorb a projected money market surplus due largely to distribution of local allocation tax ahead of the march 31 fiscal year end money traders said
he said the pse calculations provide a tool to negotiate down domestic farm support levels which are a major cause of the present crisis in world agriculture
pharmacia forecasts higher 1987 earnings
qtly divs class a and b 20 cts vs 20 cts pay may 15 record april 30
it also said the project plans to increase the area and management of protected forests establish pilot wood farms and nurseries and rehabilitate soft wood plantations
brazilian soymeal pellets were offered between one dlr lower and one higher while argentines indicated up to two dlrs a tonne higher than yesterday
hoechst will announce its dividend proposal on april 23
it named no sources
our representatives have gone to washington to the international monetary fund the world bank the fed federal reserve board and the us treasury to brief them in advance on this alternative and it has generally been positively received we dont believe that there is going to be a problem on the accounting side ongpin said
the loan has a swap agreement but a bank spokesman declined to give further details
the remainder of the price will be a one mln dlr note to eskey
that is its highest level since january 1986
mclean industries inc said its shipping subsidiary united states lines inc reached an agreement in principle to transfer its south american service to american transport lines inc a subsidiary of crowley maritime corp under the terms of the agreement united states lines will lease five vessels to american transport for 15 months with an option to extend the period up to 10 years the company said
credit lyonnais is acting as coordinator for this facility
bank of new england corp is offering 200 mln dlrs of subordinated capital notes due 1999 yielding 886 pct said lead manager morgan stanley and co inc
rates stood at 121 pct at the start of the year and have been increased to drain liquidity on rising demand for funds
purchases from non members such as malaysia will be limited to 15 pct of the total stock and those on any one day should be limited to 40 pct each in nearby intermediate and forward positions
minimum interest rates for officially subsidised trade loans have also been revised with the aim of cutting the subsidies and ending them completely on loans to relatively rich developing countries by july next year
a western diplomat said chinas foreign debt needs careful management but its debt service ratio remains very low at six to eight pct
rainbow earlier this week lifted its stake in progressive to 52 pct from 44 pct
after opening at a tokyo low of 14375 yen the dollar fell as low as 14290 yen on heavy selling led by securities firms and institutional investors they said
some analysts noted friction between the finance ministry and the central bank with finance minister onno ruding having said before the bundesbank discount rate cut he favoured lower dutch rates but that the germans should move first
if the boycott is lifted tomorrow kuranari would probably have to remain in japan to attend parliamentary discussions on the governments 1987 88 budget japanese officials said
glynwed shares were up 5p to 494 after the announcement
plant and equipment investments of all firms polled fell 39 pct to 8004 billion yen compared with a 14 percent fall the previoius quarter
the central bank charged with supervision of commercial banks has previously issued only finance ministry bonds
the prices the state pays to farmers for grain are too low making it more profitable for them to grow other crops
meanwhile the port and transport union fnv attacked loss figures given for the port for this year
balladur maintains 1987 25 pct inflation target after february 34 pct year on year
ortner said he would like to see the law changed to eliminate the 48 hour delay in reporting the two figures
by bringing forward to the third quarter some imports the quota would effectively be eased by about 250000 tons
starrett housing corp sho 4th qtr net
the state owned kenya ports authority kpa signed an agreement with the hamburg based shipping line unimar seetransport to establish the kenya national shipping line with an initial capital of 100 mln shillings sources said
such a development could worsen the business climate by increasing uncertainty and pushing up interest rates which in turn would adversely affect world trade but the report noted a surprising rise in imports to the united states despite the dollars depreciation which makes foreign products more expensive
hudsons bay co 4th qtr net
universal communication systems inc said it has tentatively agreed to sell substantially all its assets for about 79 mln dlrs in cash and notes plus limited profit participation
it previously appointed management for the new airline
a european monetary official said the ministers of the group of seven countries would gather at about three pm local 1900 gmt at the treasury
toshiba has an agreement with motorola inc motn to sell the us firms chips in japan
the chrysler spokeswoman said we are still working toward a definitive agreement said another chrysler official who is not part of the talks but who would be told if the deal were in trouble there are no glitches analysts also downplayed the significance of the delay
it is 83 pct owned by reichhold
infinite graphics infg sees higher 4th qtr
npo therapies provides home infusion therapy services
computerland a privately held company said to be the worlds largest retailer of personal computers declined to provide details of the arrangement
the ministry will abolish the minimum rate and introduce a market related one to resolve the problem and stimulate the domestic economy they said
he said the survey showed currency transactions by trade houses and exporters contributed little to the dollar fall
csr ltd csras said its sale of delhi petroleum pty ltd will not affect the other oil and gas interests it manages or operates
his plan would exempt existing secondary and tertiary wells that produce at a rate of less than three barrels a day for three years or until the price of oil reaches 25 a barrel
no reason was given for the purchases
investor martin t
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
parent pretax profit 182 billion marks vs 162 billion
allied bancshares inc albno 3rd qtr loss
i dont see any reason to change full year earnings estimates said frederick meinke analyst at ef hutton co
he said the alaskan oil trade continues to be the principal source of employment for its us flag tanker fleet which represents approximately 15 pct of the companys tonnage
the debentures are not redeemable for three years numac said
some of the economic indicators are not as rosy as they were a month ago he noted
the utility holding company said the offering should be completed in late march or early april
last year production was 174 mln tonnes
the statement said the request for the withdrawal of the troops was made because of the calmness reigning in all of its refineries
the cargo priced at 21387 us dlrs per tonne c and f taiwan is for delivery between april 20 and may 5
that recommendation echoes calls made recently at secret meetings of the international monetary funds executive board
fendt said the rise in imports in february to 127 billion dlrs from 112 billion in february last year was in line with government plans to foster economic growth
in the last three years it has bought back about 25 pct of its shares
the government is also considering letting individuals make payments on their student loans with credit cards officials told reporters
but a spokesman for the owners townsend thoresen said it was also possible the ferry had been holed
it also said t bills and three year t note auctions totaled 611 billion pesos in the first quarter of 1987
the six underwriters will be joined by 11 other financial institutions in the tender panel
halcyon investments a new york firm reported a 69 pct stake in research cottrell inc
the notes which will be callable after 1992 will be underwritten by first boston corp
the uk based pergamon media trust of robert maxwell has a 20 pct stake in the consortium representing a 10 pct stake in tf1 while maxwell media france has a six pct stake or three pct of the television network
the indonesian rupiah has held steady since its 31 pct devaluation against the dollar six months ago but has slipped against the mark and to a lesser extent against the yen according to central bank figures
fairfax also pointed to the cyclical downturn in revenue growth in the television industry as another reason for the flat first half earnings
analysts said it accounts for a third of borgs earnings
the holder may convert the remaining half of the principal amount beginning may one at a conversion price calculated according to terms of the indenture damson said
chemlawn earlier told its shareholders not to tender to waste management
elders happy to leave carling shares outstanding
washington is also pressing the world bank to take more account of the environment when making loan for dams and other projects
by drawing attention to us in our discussions it means that others may be a little reluctant to come forward he said
it said its subsidiaries which account for 96 pct of its 326 billion dlrs in revenues and 79 pct of its net property plant and equipment were free of the action
all wheat 1986 87 1985 86 cont 04 09 87 03 09 87 04 09 87 03 09 87 usage food 700 690 678 678 seed 84 90 93 93 feed 350 325 274 274 ttl domest 1134 1105 1045 1045 exports 1025 1025 915 915 total use 2159 2130 1960 1960 end stocks 1848 1877 1905 1905 farmer reser 475 450 433 433 ccc stocks 950 950 602 602 free stocks 423 477 870 870 avg price 230 40 230 40 308 308 note price in dlrs per bushel
the bank of england said it provided the money market with assistance of 104 mln stg in the afternoon session
while the treasury bond contract has been somewhat disappointing other simex contracts continue to expand fong yew meng simex assistant general manager told 
universal communication ucs to sell assets
the bank of france sold 16 billion francs of 850 pct march 1987 99 caisse de refinancement hypothecaire crh state guaranteed tap stock at an auction the bank said
first bank fbs sees loss on brazilian loans
cable shares at 1100 gmt were quoted nine pence firmer at 374p
for 1986 nuclear support a supplier of support personnel and services to the nuclear power industry had net income of 24 mln dlrs on sales of 306 mln dlrs
ameron inc amn 1st qtr feb 28 loss
reed international plc reedl denied rumours on the uk stock market that it was the target of a takeover bid and said it had received no approach
the agriculture department should make grain deficiency payments and paid land diversion payments in a two third certificate one third cash ratio through fiscal year 1989 carroll brunthaver president of sparks commodities told a house agriculture subcommittee hearing on certificates
sam gibbons said the agencies analyses seemed to agree with his opinion against congressional approval of protectionist textile quota legislation aimed mainly at western europe japan and other asian textile producing countries
usair group inc said it seeking two billion dlrs in bank debt to complete its takeover of piedmont aviation inc pie and its pending acquisition of ps group incs pacific southwest airlines
it serves no purpose to embark on another confrontational course before the recent wounds have healed and as we are beginning to make progress on the uruaguay round of global trade talks he said
witco wit sells convertible debt at 5 1 2 pct
the us mint said it is seeking offers on 4784000 lbs of special high grade zinc that it intends to purchase
bowne and co inc said its board declared a two for one stock split payable may 10 to holders of record april 17
they attributed this to a huge number of bond redemptions by the issuing companies
the transaction with merrill lynch will take borg warner private in the form of a leveraged buyout
bally bought the great america theme park in gurnee ill in may 1984 for 1132 mln dlrs from marriott corp mhs in 1986 the parks had pretax operating profit of 486 mln dlrs on revenues of 3694 mln dlrs
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
spain is threatened with massive imports from third countries by the end of the year they said
hanson also said in accordance with the merger agreement kasier cement also has redeemed all outstanding shares of its 1375 dlr convertible preferance stocks and its outstanding 9 pct convertible debentures due 2005
standard and poors corp said it raised to a 1 from a 2 american security corps commercial paper
reichhold chemical rci sets anti takeover plan
like other analysts healy sees gms share of the domestic car and truck market falling in 1987
the minneapolis grain exchange mge will start trading futures contracts in high fructose corn syrup on april 6 if the commodity futures trading commission cftc approves the contract as expected next week
per share figures also reflect partial three for one stock split effected december 1985
one official even called the markets recent actions irrational
central ill public service cip 1st qtr net
the cera survey of congress shows that the oil import fee will face a stiff uphill battle
king world productions inc said it will finance the repurchase of up to 7600000 of its shares announced earlier today through cash on hand and about 200 mln dlrs of bank borrowings for which it has received commitments from first chicago corp fnb and bank of new york bk the company today started a tender offer for up to 4100000 shares at 28 dlrs each and agreed to buy up to 3485085 more shares from members of the king family and management who together own a total of 139 mln shares
guillaume told the conference the government will make available 24 billion francs 396 mln dlrs to help producers reduce milk output and to encourage older farmers to retire
lloyds bank nza ltd chief economist will buttrose said the 42 mln dlr trade surplus was encouraging as were imports at 277 billion dlrs down from 299 billion in january
american pima ginnings from the final 1986 crop totaled 201129 bales vs 150746 bales in the 1985 crop and 126117 bales in 1984 the bureau said
the report forecasts cocoa exports to rise to 35000 tonnes this year from 33000 tonnes in 1986 and 31000 in 1985
they added that only france and italy had indicated they would support the commission proposal which would lead to a tax initially of 330 ecus per tonne during the 1987 88 price round
discounts which are currently under review range up to 50 stg a tonne for brazilian and malaysian cocoa
asamera inc said it will transfer all its mineral interests into a new wholly owned subsidiary asamera minerals inc which will later issue up to 15 pct of its shares to the public
the disease was first discovered about six months ago
kaneb now owns approximately 82 pct of kep
tenders were accepted for 255 billion dlrs of 91 day bills at an average price of 98296 dlrs against 98310 dlrs last week
the bank of england said it revised up its forecast of todays surplus in the money markets to 250 mln stg from its earlier estimate of a 150 mln
we see it that way but we dont like to seem arrogant said a senior official who declined to be named
the issue is non callable for five years
latest federal reserve data suggest that the central bank voted to maintain the existing degree of pressure on banking reserves at its regular policy making meeting two weeks ago money market economists said
credit lyonnais unit has australian dollar bond
norways september oil output rose by 222 pct to 107 mln barrels per day bpd from 830492 bpd in august according to a survey of firms operating here
the uk companies act allows the possibility of the winding up of what it defines as an association and amt will argue that the tin council falls within this definition arnold said
venezuelas biggest private sector company la electricidad de caracas will meet urgently with bank creditors in new york on monday to discuss the danger of a total default on its 622 mln dlr foreign debt a company spokesman said
wolohan lumber co wlhno 3rd qtr net
he said the system would be reintroduced after current talks with the world bank and the international monetary fund and he hoped would be backed by fresh foreign aid funds
the royal dtuch shell group owns 72 pct of shell canada and public shareholders primarily canadian own the remaining 28 pct of the company a shell canada spokesman said
it said there is significant potential for the discovery of additional ore
the conditions are the same as those on the most recent public authority loan stock issue for the state road building fund fonds des routes
controversy exists over whether the 0 92 provisions of the bill should be expanded cut back or left as is
the notes in denominations of 100000 us or australian or new zealand dlrs will have maturities of one to 12 months
but omb officials said other reagan administration efforts had already saved taxpayers 84 billion dlrs and would save another 25 billion dlrs or so by the time reagan left office
meanwhile amcs b 1 preferred stock remains under moodys review
shr 843 cts vs 961 cts int div nil vs nil group net 78 mln dlrs vs 89 mln turnover 306 mln dlrs vs 335 mln note the company said group net profits for the year ending this aug 31 should amount to 135 mln dlrs
proceeds will be used to retire existing bank debt for working capital and to retire a portion of its outstanding 12 pct debentures
warburg begins tender offer for symbion symb 
more and more of them are switching from term lending to major growth areas such as stockbroking and fee based income he said
renta inmobiliaria seeks cannon group can assets
the bond issue is guaranteed by the parent aga ab
department officials said the 750000 tonnes of exports are for the year up to september 30 1987
tanzanian cotton threatened by lack of storage
nationwide cellular service inc ncel 4th qtr
however the finance ministry statement said all the british banks had promised their participation in the loan
we are losing our semiconductors which are at the heart of our national security subcommittee chairman james florio a new jersey democrat said
but he sees potential trouble beyond then
national fuel gas co said its mail date for its previously announced two for one stock split is june 19 1987
boise cascade corp said it completed the previously announced sale of its consumer packaging division to sonoco products co sono for approximately 175 mln dlrs
rexham rxh repurchases stake from nortek ntk 
klm net profit declines in 1986 87 year amsterdam june 18 year ended march 31 net profit 301 mln guilders vs 312 mln profit per 20 guilder nominal ordinary share 593 guilders vs 614 on unchanged 5085 mln shares
braceras said that last year brazil bought 800000 tonnes of argentine maize but in some years it had not imported any from argentina
central bank president francisco gros said possible retaliation by brazils creditors would not be an intelligent measure because it would affect both sides
he said that bank card operations and the new york branch system would continue to turn in hefty profits but also picked out other developing areas such as us mortgage and international consumer as major potential earners
includes provision for store closing costs and unproductive inventory of 1000000 for 1986 qtr and 251 mln for qtr prior
it said formation of first national bank corp will result in a one for one stock exchange for shareholders of first national bank in mount clemens
its teccor unit makes a specialized line of semiconductors
residential mortgage investments incs mortgage acceptance inc unit said it is offering a 543 mln dlrs collaterized mortgage obligation using mortgage pass through certificates evidencing undivided interests in pools of conventional mortgage loans on single family residential properties as collateral
iea sees one pct growth in 1987 oecd oil demand
xuto said producers and consumers had agreed on four points 1 regular price reviews will be held every 15 months
gac liquidating trust gactz sets cash payout
written mainly in december last year the report took no account of a rise in oil prices early in 1987 and a 09 pct surge in january consumer prices caused partly by the governments deregulation of service sector tariffs
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
hutchison unit buys container cranes from japan
qtly div six cts vs six cts prior pay march 31 record march 20
moodys said home shopping leads the shop at home industry and is profitable but noted that a newly emerging industry is associated with risk
the panel also voted to apply to lamb imports the same countercyclical import quota law which is operating for us beef imports
it will supply the remaining 100000 tonnes at a rate of 9342 dlrs by april 16
a spokesman said the group had no immediate issue plans
i believe they are looking at 18 dlrs long term also in their heart of hearts they believe that will be exceeded margoshes said
acklands ltd 1st qtr feb 28 net
conditions worldwide in the television industry continued to look buoyant the chairman noted
traders detail irish intervention barley tender
hoechst which acquired celanese corp on feb 27 said it plans to offer 200 mln dlrs of notes due 1997 and 300 mln dlrs of debentures due 2017 to repay part of the debt incurred in the takeover
moodys investors service inc said it downgraded 110 mln dlrs of debt of michigan general corp
allegis aeg westin sets news conference on sale
but most analysts expect the more moderate producers such as saudi arabia to block any changes in policy
near term earnings and cash flow protection will weaken from the acquisition though banners plans to sell some rexnord assets will reduce debt for the medium term
australian trade minister john dawkins said if the general agreement on tariffs and trade gatt does not give high priority to agricultural trade reform it will be neglecting the area of greatest crisis
the company cited the recent in house embezzlement and a subsequent review by auditors of its international situation as reason for the delay
jeffrey neuman of santa monica calif told the securities and exchange commission he sold his entire rb industries inc stake of 341210 shares or 100 pct of the total outstanding
he also said his bill would protect program participants from reduced income payments in the event market prices rose above the loan rate
hall said that under recently enacted legislation banks and other financial institutions can be held liable for environmental risks in projects that they finance
for 1986 the company had revenues of 983 mln dlrs
west german government sources said rising west german money market rates could not be seen as a breach of the louvre pact
in a speech to the national newspaper association baker said the six steps beginning with the plaza agreement and culminating in the paris accord are only a start he added we see our role as a steward of a process in which we sit down with our industrial allies to find ways to promote more balanced international growth the paris agreements called trade surplus countries to strengthen their growth and on the us to reduce its budget deficit
audi ag nsugf the 99 pct owned subsidiary of volkswagen ag vowgf said profit in 1986 fell by around half compared with 1985 when it achieved a record 221 mln marks net profit a rise of 195 pct on the previous year
but the left wing was left in control of the union after the christian democrats and independents failed to reach agreement on a joint candidate for the presidency and withdrew from negotiations
january imports were 919 billion dlrs against 943 billion in december and 971 billion in january 1986
balances in tax and loan note accounts fell to 12453 billion drls from 14350 billion dlrs on the same respective days
biogen nv said as part of a program to reduce expenses it is in talks on the sale of its geneva switzerland operations
banks must repurchase securities pledged on april 22
senior market sources noted that in any case when issued trading would be supervised by the stock exchange and would be subject to bank of england supervisory guidelines
boothe financial corp bcmp 4th qtr net
the new firm to be known as kpmg peat marwick will rank among the largest public account and consulting firms in the us based on combined 1986 revenues of 135 billion dlrs 1825 partners and a total staff of 16500 in 136 offices
morrison knudsen corp said black river constructors a joint venture with martin eby and a subsidiary of hunt corp has received a 517 mln dlr construction contract from the us army corp of engineers
he said there are times when exploiting a profitable market is done best with a partner
retaliation was also called for by the semiconductor industry and its chief trade union both hard hit by japanese semiconductor trade
currency trading had begun in the los angeles branch he added
ellmann said he feels it is highly unlikely that any progress will be made in tomorrows hearing
semiconductors are the small silicon chips used for memory and recall purposes in a wide variety of computers
joint ventures might in some cases be preferable to starting new activities on their own the statement said
investment crucial to us textile recovery
this takes the banks total help so far today to 582 mln stg and compares with its forecast of a 750 mln stg shortage in the system today
the bank board said that the federal savings and loan insurance corp will make a cash contribution provide capital loss coverage and indemnify standard pacific against undisclosed liabilities
analysts said the fact british petroleum made such a bid in the first place indicates that the british oil giant has changed its outlook for the oil industry
we dont care if it is eep what we the soviets are looking for is competitive prices ivlev said
no other details of the proposed agreement were available
de nationale investeringsbank nv of the netherlands has signed a 31 billion yen bullet loan agreement arranger mitsubishi bank europe sa said
japan officials see difficulty hitting gnp target
nondilutive acquisitions are a real possibility gavin herbert president of the eye and skin care product group said in the report
reckitt and colman plc pretax profits 1986 yr 14511 mln stg vs 12339 mln
three equity linked dollar denominated deals were offered the largest of which was a 200 mln dlr offering by sekisui chemical co and guaranteed by sanwa bank ltd
highveld hgvjj sees lower 1987 earnings
they added that the rise in the reserves was merely the result of commercial currency transactions by the bank
the bank said the issue is divided into two pools one bearing annual interest of 8 3 4 pct and the other 8 5 8 pct with interest calculated semi annually and paid monthly
svenska cellulosa ab scabst 1986 year
he gave no precise sum
computer memories cmino to delay merger
they anticipated a concerted effort to prop up the dollar and restrain the yen via a mixture of open market intervention and public comments
unicorp american corp said it signed a definitive agreement to acquire lincoln savings bank fsb
though this was above the march requirement of 507 billion actual holdings at the weekend were 442 billion
the spokesman reacting to irish and british press reports said he continues to be interested were the group to offer the brewery side of guinness for sale
teck hocks financial adviser singapore international merchant bankers ltd simbl will work on the new proposal with the creditor banks they said
slower than expected growth in britains narrow m0 money supply measure in february will help spur a further cut in uk interest rates if a surge in sterlings value requires such a move economic analysts said
harvard industries hava announces stock split
1986 net includes losses from discontinued operations of four cts in the quarter and six cts in the six months
im quite confident he understands the problems and is prepared to do something about it herrington said
the unadjusted rise was 131 billion stg compared with an 813 mln stg increase in january
if and when it becomes necessary the government will be ready to take any necessary economic and political initiatives as it has in the past simonsen said
a high level meeting last week which included the secretary of agriculture and other senior usda officials along with leaders of the major soybean lobbying groups failed to reach any decision on what should be done about the soybean loan level participants at the meeting told 
component b to be unsecured will be for a maximum of 200 mln dlrs with a maximum spread of libor plus 5 8 pct for the first three years libor plus 3 4 pct for the fourth to sixth years and libor plus 7 8 pct for the seventh year
the canadian wheat board has advised the federal government to sharply cut initial prices paid to farmers for their wheat oats and barley in the crop year beginning august 1 a board spokesman said
us soviet grain accord questioned by lyng
vertex industries inc vetx 2nd qtr jan 31 net
bp shares dropped on the announcement to 877p from 888p at last nights close
israels inflation rate for february was one pct compared to 21 pct in january and 16 pct in february 1986 a spokesman for the central bureau of statistics said
sudan rejects imf demand for devaluation
he said seoul would try to limit its current account surplus to around five billion dlrs a year for the next few years although trade volume would continue to grow
it has been the intent to set the dividend at a level so that it could be sustained through the ups and downs of the business cycle olson told a meeting of securities analysts
medar mdxr changes fiscal year
they estimated that the bulk of liquidity was added at about 395 pct
unit loss 436 dlrs vs loss 427 dlrs net loss 374 mln vs 329 mln revs 193 mln vs 303 mln avg units 8413000 vs 7557000 note net includes writedown of oil and gas properties of 210 ln dlrs vs 165 mln dlrs and writedown of geothermal property of 104 mln dlrs vs 105 mln dlrs
french adjusted february trade deficit 400 mln francs vs january deficit 25 billion
protective life prot in acquisition
both markets were pushed higher by an ebullient pound and renewed buying by uk institutions following chancellor of the exchequers nigel lawsons well received budget yesterday
green tree acceptance inc gnt sets dividend
the stock price has changed but the company hasnt changed so theres no reason for us to change said daniel good head of shearson lehman merchant banking
bangladesh to buy 10000 tonnes soyabean oil
the bass group which did not identify any of the other people with whom it said it has had talks said it plans to continue evaluating taft and will be involved in further discussions relating to the future control and direction of the company
the notes have an 8 1 8 pct coupon and were priced at 99375 to yield 105 basis points more than comparable treasury securities
this work was scheduled to be completed by mid april but this is now being assessed following the hydrocracker accident
the citicorp unit said its higher offer came to about three dlrs more for each cyclops share outstanding
heavy signup seen in 1987 corn program usda
we will entertain any approaches he told in reply to questions following uk press speculation
baldrige referring to the us japan trade agreement on semiconductors said their government wants to live up to it
a cut before the election has been virtually ruled out
it said cwt inc which has operations in the midwest and southeast has annual revenues of approximately 135 mln dlrs
the redstone group which has a 195 pct stake in viacom and the management group which has a 54 pct stake have both agreed not to buy more shares of the company until a merger is completed unless the purchases are part of a tender offer for at least half of the outstanding stock
our central message to japan this week was that while we have made progress in some areas much needs to be done he told a press conference after three days of talks
it involves a major reduction in tax rates and we believe that getting the tax burden down is one way of stimulating the economy he added
provision for loan losses in the quarter was 353 mln dlrs vs 441 mln dlrs the prior first quarter
japans finance minister kiichi miyazawa said that remarks by us treasury secretary james baker on sunday that some nations were not abiding by the spirit of the louvre accord were just aimed at reaffirming that agreement
the deadline has been moved up because the department of transportation and ps group shareholders have already approved the transaction the company said
a reduction in the us current account deficit would occur only if the growth rate of gnp was higher than domestic demand
the bonds will be availalbe in book entry form only it said
black hawk mining inc said it knows of no major activities to account for the recent rise in the companys stock price
under these programs the company systematically buys back shares in the open market to replace shares issued under its stock plan and acquisition earnout agreements
total fees of 1 7 8 pct comprise 1 1 4 pct for selling and 5 8 pct for management and underwriting combined
uganda re routes coffee exports through kisumu
a potential for alternative supplies could limit the willingness of opec nations to raise oil prices he said
industry sources said the 33 will seek to renew the cartel in 1988 89 in the belief demand will remain sluggish
current year figures include security gain of 46 mln dlrs or 64 cts per share vs gain of 415 mln dlrs or 583 dlrs per share
placer pacific ltd said it will undertake a full feasibility study of western australias big bell gold prospect
other reasons are low domestic inflation a bottoming out of the fall in imports in recent years and signs government spending on productive sectors will remain steady
1986 excludes gain of 987 mln for extinguishment of debt from companys chapter 11 filing and subsequent reorganization
much of that will be attributed to businesses rebuilding their inventories and is not likely to be sustained in the second quarter gramley said
only the cash portion of the payments will be subject to the 43 pct reduction in compliance with the gramm rudman budget deficit control act of 1985 it said
with the restart of this 22700 tonne a year production line reynolds said it will be operating at 100 pct of its consolidated primary aluminum capacity of 695000 tonnes per year
average exports were 129 mln bpd down from 144 mln bpd
the yens 40 pct climb against the dollar over the last two years has hit the export driven economy hard by forcing its companies to raise prices and lose sales in the us market
the second two tranches of the equipment backed deal are non callable for five years drexel said
the federal reserve entered the us government securities market to arrange two billion dlrs of customer repurchase agreements a spokeswoman for the new york fed said
the debentures are convertible into the companys common stock at 1875 dlrs per share representing a premium of 271 pct over the stock price when terms on the debt were set
phillips sold its interests in the t block in the uk north sea and us reserves totaling about 13 billion dlrs in 1986 as part of a two billion dlrs asset sales program that is now completed silas said
moscows decision at that time to reenter the us corn market strengthened the perception of warming farm trade prospects
however the sources said they expect the ibc to adopt a marketing strategy aimed at regaining brazils dominant position as an exporter but without causing a price war
inter tel inc intla 1st qtr feb 28 net
speculation about an impending deal rumored to be worth 600 mln dlrs also sent shares of other us brokerages up sharply
ball corp said it was unable to complete negotiations to acquire the plastic container business of monsanto co
philadelphia electric co pe shelf offering of up to 250 mln dlrs of first and refunding mortgage bonds
rubbermaid rbd sees continued improvement
the economic planning agency will announce gross national product gnp figures for the october december quarter today at 1700 hrs local time 0800 gmt agency officials told 
the new margin for red bean spot march rises to 150000 yen per 24 tonne lot from 120000 and to 190000 for outstanding contracts as of march 13
advanced institutional management software inc said it has cut its workforce to 53 from 74 and closed its atlanta office to cut expenses and improve profitability
year to date ford said it produced 534209 us cars up from 446505 last year to date
nicholas said that hbo and cinemax had combined subscriber growth of 800000 for last year
oak industries inc said it agreed to buy the stock of electronic technologies inc of new york for an undisclosed amount of cash
caltex raises singapore oil product prices
in a letter to shareholders bilfinger und berger said foreign construction work fell to 137 billion marks in 1986 from 210 billion the year before
italian interbank rate rises in february
this cut producer stocks and contributed to a closer supply demand balance within the us market for many years depressed by surplus production and a regular supplier to the world market
president reagan called for continued nondiscriminatory treatment for romanian exports to the united states in the face of congressional opposition because of the bucharest governments record on human rights
the offer covers four mln corona common shares and all outstanding 950 dlr corona share purchase warrants expiring august 31 1987 royex said
transtar said the new april one schedule will offer 21 daily departures from new orleans to 11 cities in florida texas nevada and california
mauritius gets 25 mln dlr world bank loan
bankers said the cement importer arabian bulk trade and the construction and trading firm ali and fahd shobokshi group are still negotiating with creditor banks
as to the traditionally more active currencies stability was the catchword and reluctance the watchword among analysts
jp morgan jpm says dlr may prevent fed easing
geoffrion leclerc inc in reporting sharply higher earnings for the six months ended february 28 said it expects third quarter results to continue at a strong pace and approximate the preceding quarters
meanwhile disruption began today to cargo handling in the ports of sydney newcastle and port kembla they said
he said the current marketing posture will provide added support to the nearby month
valor makes home products
frost and sullivan inc frsl increases payout
the statement did not disclose financial details
period ended dec 28 shr 42 cts vs 35 cts net 941000 vs 786000 revs 12798000 vs 2269000 year shr 97 cts vs 83 cts net 2211000 vs 1841000 revs 19027000 vs 6474000 note 1985 period ended december 29 share results adjusted for five for four stock split on april 28 1986 and 10 pct stock dividend issued dec 10 1986
the labour party government removed exchange controls and floated the dollar two years ago when it was worth 44 cents
the countrys total foreign debt is 816 billion dlrs the eighth largest in latin america
those amendments affecting imports face an uncertain future because the house ways and means committee which has overall jurisdiction over trade legislation will oppose them congressional sources said
chinas state and collective firms do not have enough cash to operate imported equipment so banks will issue more bonds to raise funds a chinese bank official was quoted by the china daily as saying
the company said williams 4327p per share offer was unsolicited and unwelcome and significantly undervalues norcros
shr five cts vs eight cts net 100000 vs 176000 revs 4027000 vs 3649000 note 1986 qtr includes gain 90000 dlrs or four cts per share from tax gain
i think we got a better deal
white house spokesman marlin fitzwater said president reagans record in opposing tax hikes is long and strong and not about to change
graham mccormick oil and gas partnership said it completed the sale of interests in two major oil and gas fields to energy assets international corp for 21 mln dlrs
banks and mutual funds have cash that should be put to work so the auctions should breathe some life into the market said economists at merrill lynch capital markets inc
horizon bancorp hzb sets regular payout
german analysts see gold firming later this year
chilis named goldman sachs and co and alex brown and sons inc as underwriters
shr profit 72 cts vs profit 14 cts net profit 3309000 vs profit 609000 revs 72 mln vs 65 mln year shr nil vs loss 413 dlrs net profit 1000 vs loss 19 mln revs 249 mln vs 269 mln note full name stewart and stevenson services inc
the statement said the issue followed up the 1986 tender issuance involving the first non restricted or free shares which can be held by aliens
municipal financial corp 1st qtr jan 31 net
net loan charge offs were 865 mln up from 607 mln leaving the allowance for loan losses at 6726 mln dlrs at quarters end or 174 pct of loans outstanding compared with 5943 mln or 150 pct a year earlier
the venezuela guayana corporation cvg which oversees the state steel iron aluminum and other industries will invest 75 billion bolivars in new projects during 1987 89 cvg president leopoldo sucre figarella announced
it also said it plans an acetaminophen production plant at bishop texas
shr primary 105 dlrs vs 88 cts shr dilulted 105 dlrs vs 86 cts net 1516 mln vs 1352 mln revs 232 billion vs 255 billion avg shrs 1446 mln vs 1545 mln
the frenzy and disruption created by merger mania is particularly distressing shad said the recent cases involving ivan boesky dennis levine and others was a warning that those who engage in insider trading were taking a heavy risk of imprisonment high fines and disbarment from the securities industry
qtly div 45 cts vs 45 cts prior pay march 31 record march 20
australia could lose valuable wheat markets through lack of availability if plantings for the coming 1987 88 season are significantly reduced australian wheat board awb chairman clinton condon said
members told him de zeeuw that we lowered our us loan rates and cant eliminate subsidies unilaterally one source said
the trade deficit in the first two months of 1987 totalled 233 billion pesetas a 68 pct increase over the corresponding period last year
sheet was firm as in previous weeks with rss1 averaging 2205 rupees against 22 previously
he said the best way to deal with this was to use the policies outlined in treasury secretary james bakers debt initiative
grand metropolitan plc s heublein inc subsidiary said it will phase out operations at almadens san jose winery and transfer production of the wines to the companys madera calif winery
spreads over comparable treasury securities run from 90 to 115 basis points
he did not comment directly on the soviet question replying that any decision would be made at the highest levels of the reagan administration and i dont want to preempt that yeutter told the national grain and feed association eep should continue to be used as a tactical tool against the european community but not as a general policy
the company said it is now posting west texas intermediate and west texas sour at 19 dlrs a barrel
geo
baker reiterated that the ministers at the paris meeting agreed that their currencies were within ranges broadly consistent with underlying economic fundamentals and that further substantial exchange rate shifts could damage growth and adjustment prospects he added in these circumstances we agreed to cooperate closely to foster stability of exchange rates around current levels
dome spokesman david annesley said in new york that transcanadas announcement could be seen as an attempt to fix the bidding price for dome and an effort to preclude other possible buyers from making an offer
paperboard industries corp said it planned to make an unconditional 21 dlr a share cash offer for belkin inc s 76 mln common and 23 mln non voting shares
uk money market given 10 mln stg late assistance
new market emerges in warrants for gold
the dollar opened at 15120 30 swiss francs against 15085 00 at the new york close
bilbao one port vietnam 5000 mt steels fio 1000 500 end april singapore mizushima 6000 10000 mt steel scrap fiot 1200 300 2 12 4
pentagon officials then announced that a us guided missile destroyer began escorting two kuwaiti tankers flying the us flag southwards the 80000 tonne product carrier ocean city and 46000 tonne petroleum tanker gas king
the planning minister presented a review of the kenyan economy during the second half of 1986 which showed inflation falling to 43 pct from 102 a year earlier
im convinced were about to see an improvement on the import side
the bill also would aid about 200 feedgrains producers along the missouri and mississippi rivers who were prevented from planting crops this year because of residual damage from last falls flooding
gelco express ltd was one of the companies scheduled for divestiture
the company said it expects to mail checks representing the purchase price of the 20 mln shares purchased later this week and will be returning unpurchased shares shortly thereafter
ivaco sees minimal first quarter earnings
however iafmm said in a statement that it expected chilean and peruvian fish meal production in the first quarter of 1987 to be much lower than the 651000 tonnes produced in the last quarter of 1986 due to a ban on sardine fishing in chile for the month of february and to adverse fishing conditions in peru in the same month
the treasury declined comment on the figures
the associations added that they would remain independent but wholly owned units of the holding company
the company since has granted trackage sharing rights to four western railroads to meet the iccs concerns and persuade it to reopen the hearings in its three year old struggle to merge the lines
jwt said it asked the court to enjoin the defendants from acquiring any further jwt stock make them return all confidential and proprietary information and to disgorge all profits or other gains
london floating rate note prices open sharply lower dealers say
however the industry did not proceed with this plan as zinc market conditions improved in 1984 the sources noted
figures for february out on monday are expected to show a further increase of between 300 and 400 mln stg pushing the total for 11 months above target government officials said
that would be little changed from the performance expected this year
france yugoslavia commission to boost trade
holden brown said allied lyons financial results for the fiscal year just ended march seven would include three months of hiram walker gooderham profits but he did not provide actual figures
ncnb ncb to merge with centrabank 
moodys will also study the adequacy of projected earnings and cash flow from western national in relation to the financing plan
webb dwpa 
the uk produced 820400 tonnes of oilcake and meal and 431000 tonnes of crude vegetable oil in calendar 1986 ministry of agriculture figures show
pay date is april 7
rather the groups or individuals leading a takeover declare that they can raise the capital for a takeover without actually putting any of their own money proxmire said
kraft kra completes frostex acquisition
linseed cake and expellers 146 145 pellets 124 123 and meal 114 113 all for shipments july onwards
still at the heart of the talks is ongpins offer to pay part of the countrys interest bill in philippine investment notes pins instead of cash
black hawk mining cant explain stock rise
you could question just how committed they are in addition some industry analysts question the effectiveness of a bilateral agreement that leaves out third country chipmakers such as those in south korea
spanish refiner plans gasoline additive plant
galactic said the accounting change resulted in a 228 mln us dlr charge against 1986 earnings
on the failure of the recent ico talks arango said colombia understandably felt frustrated at not having managed to force a compromise
we would like to see the aggregate for the oecd area comfortably exceeding three pct david henderson head of the oecds economics and statistics department said
energy development edp had year loss
clary corp 4th qtr dec 31 loss
the portfolio manager noted that besides the three federal government loan stocks so far this year it has also fallen back twice to raise a total 643 billion marks through the issue of fixed rate medium term kassenobligation notes
pennzoil sees lower 1st qtr net before unusual item against year ago loss 49 cts
this gave a year on year february inflation rate of 95 pct against 98 pct in january and 126 pct in february 1986
the study shows that on dairy products japans pse or the amount of aid to farmers expressed as a percentage averaged 833 pct over 1979 81 with the european community at 688 pct and the united states 482 pct
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
standard elektrik lorenz finanz bv is issuing a 40 mln australian dlr eurobond due may 11 1990 paying 14 1 4 pct and priced at 101 1 2 pct lead manager credit suisse first boston ltd said
paralax video enterprises inc said it signed a definitive agreement to buy american video group inc for stock
nationwide said its property casualty group the fourth largest us property casualty insurer had a 106 mln dlr loss in 1986
share adjusted for two for one stock split in june 1986
the turkish central bank set a lira dollar rate for april 8 of 78450 78842 to the dollar down from the previous 78435 78827
of the 13 billion dlrs frozen debt 35 billion was owed by public sector and 95 billion by private industry du plessis said
stocks of money center banks were mostly down fractions in late dealings
the strategy left its stock in a slump and its pilots union concerned that the company was not focussing enough attention on its airline
the signup period of the 1987 feedgrains program officially ends at the close of the business day on march 30
speaking to a senate agriculture appropriations committee hearing amstutz said i think we can reach agreement in calendar 1988 amstutz said the us places a high priority on the uruguay round of global trade talks
the disparity between output and sales is showing up in inventories economists pointed to sharp rise in january us business inventories as a sign that production may be outstripping demand in the first quarter of 1987
british airports authority seeks credit facility
mellon mel republic rpt lift prime rates
the agreement calls for northview to make a self tender offer for all of its outstanding stock at a price of 22 dlrs per share in cash
shr loss 38 cts vs profit eight cts net loss 104 mln vs profit 2144317 revs 729 mln vs 674 mln nine mths shr loss 21 cts vs profit 38 cts net loss 5747393 vs profit 101 mln revs 2246 mln vs 2006 mln note current year net both periods includes 200 mln dlr pretax charge for disposition of 21 underperforming company owned restaurants
explosion at bp oil refinery in scotland
the us agriculture department said private us exporters reported sales of 104000 tonnes of corn to unknown destinations for shipment in the 1986 87 marketing year
ghiirardi told the group considered japan one of the prime markets in which it intends to expand
pete wilson told reporters the clear import of what he said is that there will be japan cant just say they will comply
but analysts said it would be difficult to ascertain the origins of such purchases
lynch said its proposed offer substantially improves over the offer of 1045 dlrs a share in cash and 400 dlrs of senior sinking fund debentures made by bcw acquisition inc formed by becors management
the request was also due to the end of the seamens strike and the willingness of the oil industry workers to sit again by the negotiating table the statement said
oper shr five cts vs six cts oper net 1100000 vs 1463000 revs 1778 mln vs 3315 mln avg shrs 219 mn vs 257 mln first half oper shr six cts vs five cts oper net 1121000 vs 1090000 revs 3153 mln vs 5674 mln avg shrs 206 mln vs 256 mln note operating net excludes gains of 659000 dlrs or three cts a share vs 599 dlrs or two cts a share in quarter and 676000 dlrs or three cts a share vs 599000 dlrs or two cts a share in year from tax loss carryforward
shr 65 cts vs 47 cts net 1843 mln vs 1331 mln sales 385 billion vs 277 billion year shr 159 dlrs vs 116 dlrs net 4501 mln vs 3275 mln sales 1191 billion vs 845 billion
he said it was important the government ensure the creation of more jobs was not just a transitory development
preston corp ptrko 3rd qtr net
s and p said that with an improved cost structure mack can compete more vigorously for market share without reverting to a loss position
general hydrocarbons assets now consist of cash and montana power co mtp shares
peter beutel oil analyst with elders futures inc who looks for a build said we have had five weeks of gasoline demand at 73 mln bpd or more and it is likely to taper off to between 67 70 mln bpd which should make stocks build
rhodes said in a statement that the parties are expected to discuss brazils economic plans and interim arrangements he did not elaborate further
pam transportation services inc ptsio net
ivory coast is the worlds largest cocoa producer
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
us agriculture secretary richard lyng declined to confirm statements made today by a farm state congressman that the united states will offer subsidized wheat to the soviet union within the next 10 days to two weeks
shr profit one ct vs loss seven cts net profit 63761 vs loss 43006 revs 1961219 vs 1413859 year shr loss seven cts vs loss 20 cts net loss 380273 vs loss 1108151 revs 6245012 vs 5368522 shr out 5950000 vs 5462547
its publication follows a long debate among bankers on the amount of information that should be provided by borrowers heightened by difficulties with swiss franc issues here on recent occasions it applies to all notes in units of at least 50000 swiss francs the usual denomination which are placed directly with customers by the syndicate and not quoted on the bourse
finland files for 550 mln dlr debt offering
this implies the possibility of a share buyback or significant dividend increase or a stock split he said
cocoa consumers narrow gap on buffer stock issue
bids totalled 19758 billion yen
cominco ltd said it expects to meet today with two of five united steelworkers of america locals on strike at its trail smelter and kimberley bc lead zinc mine a cominco spokesman said
the recent widening of interest rate differentials the fact that the dollar has fallen sharply in a very short period and an improvement in real trade balances have all combined towards stabilizing the dollar he said
ireland and france continued to oppose the deal on meat saying that the main dispute was over sales of cereals substitutes but they were outvoted by the other states the officials said
brazil suspended interest payments on its 68 billion dlrs of medium and long term debt on february 20
gordon said he plans to issue a decision tomorrow on burlington industries incs request for an injunction to stop samjens acquisition corps takeover bid for the company
rep
investments 318 mln vs 317 mln
the us push for iadb reforms which began at last years meeting in costa rica is particularly sensitive in an institution latin americans have traditionally thought of as their own
it said subject to approval by nichols shareholders and regulatory authorities the transaction is expected to be completed later this year
us commercial paper rises 298 billion dlrs in march 11 week fed says
company based in mayaguez puerto rico
qtly div 14375 dlrs vs 14375 dlrs pay may 1 record april 3 note dividend paid to all shareholders other than norfolk southern corps nsc norfolk and western railway co
as a result those amounts will be subject to federal taxes it said
clayton and dubilier new joint unit to buy firm
heating oil stocks were also expected to build between 700000 barrels and one mln from the 96 mln barrel level reported last week but a rise in distillate stocks was discounted as having a market impact at this time
the dividend will be payable to holders of record april six and expire 10 years later on april 6 1997
marketings will be very aggressive this summer when prices are usually high relative to the rest of the year due to the vulnerability of the us crop to bad growing weather
murray told shareholders that despite the cuts the company has promising acreage to explore as well as major oil and gas reserves to develop in the us canada europe africa and indonesia
the stock transfer tax would be a particularly unfortunate approach to take the treasury secretary said
bank of japan governor satoshi sumita said the central bank has no intention of cutting its discount rate again as a way of preventing the yens rise
the poultry is for shipment june september and the bonus was 71980 dlrs per tone it said
among the leading seven industrial countries consumer price inflation was highest in italy at 42 pct followed by canada at 40 pct britain at 39 pct france at 34 pct the us at 21 pct and west germany and japan with negative rates of 05 pct and 14 pct respectively
expenses for personnel had increased 75 pct to 782 mln marks and others costs had increased 94 pct to 272 mln marks
usair group rejects trans world airlines takeover bid
the company said its property operations would increase substantially following the start of a joint venture deal with developers rosehaugh plc the defence costs against the 19 billion stg bid from dixons resulted in a 160 mln stg extraordinary charge
total assets and liabilities of banks rose to 7760 billion dlrs in january from 7683 billion in the previous month and 6945 billion a year ago
present lower terminal values may be a reflection of the lack of renewed prompt offtake particularly from these two large consumers the report said
each 2000 franc bond carries three warrants each of which allows the purchase of one certificate of a nominal 100 francs at a price of 600 francs from june 1 1987 until november 30 1990
eurosterling which has been in the limelight lately also on foreign exchange and currency bullishness slipped slightly
it said valor has arranged financing through an issue of ordinary and convertible preference shares underwritten by hoare govette ltd and barclays de zoete wedd ltd
the upper reaches of the yangtze are at their lowest levels in a century causing many ships to run aground and making harbour manoeuvres difficult it said
the prospective plant would cost an estimated 270 mln canadian dlrs and would produce methyl tertiary butyl ether mtbe from raw materials available locally it said
nova nvaato considering bid for dome dmp 
mueller said in an article for the boersen zeitung financial daily that a monetary policy which took into account exchange rate expectations and capital flows could not be confused with an exchange rate oriented policy
economists said it appeared the government had already stepped up borrowing this year to accomodate revenue loss from other sources including tax losses resulting from weaker than expected economic growth and higher than expected spending
on the demand side developments in automobiles and packaging bode well for secondary aluminium consumption
loh said the banks participation in the stock market has increased business transactions and provided long term growth for the market
the bank said in a statement forecasts indicate a net cash withdrawal from the system through the week
news corp nws completes purchase of newspaper
british land of america inc bla year march 31
oil production in ecuador was halted on march five when an earthquake damaged the countrys main pipeline from lago agrio at the heart of the ecuadorean jungle oilfields to the pacific port of balao
the statement said the agreement with pdvsa will enable the company to supply a steady flow of refined products to its customers
but the us ran up a 23 billion dlr deficit in manufactured goods that year compared to a 14 billion dlr surplus in services trade with its neighbour
it said negotiations continue with the banks but has no assurance that such funding will continue
some problems were solved as a result of the contacts while others remained unresolved
the report said a decline in economic growth as a result of the fee would reduce tax revenues
on monetary policy lawson confirmed the target range for the narrow m0 measure would be two to six pct in fiscal 1987 88
shr 82 cts vs 63 cts net 1661000 vs 1251000 revs 148 mln vs 116 mln
idea inc idea to buy private firm
sosnoff said he holds his caesars world stock primarily for investment purposes he also said he reserves the right to alter his intentions at any time
ethyl corp ey units complete acquisiton
talking to reporters funaro said this attitude would not help resolve the crisis started when brazil suspended indefinitely interest payments on 68 billion dlrs in external debt on february 20
jp morgan and co inc said its first quarter earnings fell by 32 pct largely reflecting its previously announced decision to place on non accrual status its 13 billion dlrs of medium and long term loans to brazil
danforth who is chairman of the westinghouse electric co wx first learned of bps interest in acquiring the rest of standard in a telephone call march five from sir peter walters chairman of bp
an official at the ministry of post and telecommunications told the ministrys position is unchanged despite mounting pressure from london and washington
chase banks steinhaeuser and other frankfurt dealers said the g 7 communique guaranteed a relatively calm and stable market for the foreseeable future compared with the extreme volatility seen in the first few months of this year
in addition british printing and communications corp headed by maxwell owns 95 mln dlrs face amount harcourt said
reports about the trade surplus especially overseas tended to concentrate on nominal trade figures which rose to a record 1122 billion marks in 1986 he said
by drawing on its parent companys strength a weaker finance subsidiary can achieve a credit rating as high as its parent
the marketing year for wheat begins june 1 corn september 1 and soybean meal october 1
sales 188 billion vs 178 billion other income 5275 mln vs 1522 mln shrs 56061 mln vs same
farm credit paper was cited by some as undervalued and a good buy despite the issuers well publicized financial woes
the bureau noted australias terms of trade had fallen by 199 pct since the fourth quarter of 1983
westinghouse wx sees higher earnings growth
philippine coffee exports seen falling sharply
us bank reserve monetary and discount window borrowings data released by the federal reserve today clearly indicate that policy is on hold and may not be changed for weeks or even months economists said
miti anxious to salvage the bilateral agreement has been pressing chip makers to limit production in the hope that will boost domestic chip prices and reduce the incentive to export
the kingdom of belgium is launching 100 mln swiss francs of seven year notes with warrants attached to buy gold lead mananger credit suisse said
the fire which started wednesday and burned for more than 24 hours destroyed the mines three year old conveyor system officials said
the key prerequisite is clearly in the hands of brazilian authorities he said
these will include an expected four to five billion franc issue for electricite de france to be followed by a bond of around one billion francs for auxiliaire du credit foncier a subsidiary of the banking group credit foncier de france and a new issue by tender from the mortgage agency caisse de refinancement hypothecaire
coffee export quotas used to regulate coffee prices under an international coffee agreement were suspended a year ago when prices soared in response to a drought in brazil
it has just one track the track and thats all de clercq said
sosnoff holds about 136 pct of the companys stock
usair u acquires 99 pct of piedmont pie 
permian pbt raises crude prices
shr profit three cts vs loss nine cts net profit 103664 vs loss 326675 revs 76 mln vs 69 mln six months shr loss two cts vs loss 15 cts net loss 78246 vs loss 522868 revs 147 mln vs 129 mln note1986 net includes gain of 43185 or one cts in 2nd qtr and six months for discount on early long term debt repayment
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
gencorp inc chairman william reynolds said the companys board and its financial and legal advisors will study the unsolicited tender offer from general partners right now our advice to all our shareholders is to wait until the board advises them of its position which will happen on or before march 31 reynolds said
in case the operation should be finalized the bonds would be issued by banks and not by fiat the spokesman said
the belgian government which introduced large scale public spending reductions last year has been told by an international monetary fund team there is scope for further cuts in 1988
restructuring has not compensated for a greater than anticipated deterioration in market conditions s and p said
the remainder of the funding would be conducted by traditional tender and tap issue means
qtrly 25 cts vs 16 cts pay march 30 record march 13 note prior qtr is for two months operation october and november and represents a parital dividend
treasury corp of nsw issues australian dlr bond
in other action waste management directors approved an increase in the quarterly dividend to 18 cts from 14 cts payable april three record march 18
american express axp seen in possible spinnoff
the rating agency said it would study bp s strategy to restore financial flexibility after the acquisition
he said south africa already had repaid five pct of the debt under the standstill agreement expiring on june 30 1987
reagan signs ginnie mae bill voices concern on fees cap
during 1986 the 17 1 2 pct debentures and 9 7 8 dlrs preferred stock were redeemed or converted resulting in 6028755 common shares outstanding at december 31 1986 as compared to 2408766 common shares outstanding at december 31 1985
us roastings of green coffee in the week ended march 7 were about 325000 60 kilo bags including that used for soluble production compared with 290000 bags in the corresponding week of last year and about 315000 bags in the week ended february 28 george gordon paton and co inc reported
bond international also said in the document that while it plans to sell an interest in the complex it will hold the hk tvb shares as a long term investment
ajinomoto co inc ajint said it will sign around end april to buy the 50 pct of knorr foods co ltd capitalised at four billion yen that it does not already own from its us partner cpc international inc ajinomoto will also acquire 50 pct each of cpcs two sales subsidiaries and six production units in hong kong the philippines singapore malaysia taiwan and thailand he said
bangemann said everything possible would be done to find new jobs for the workers affected by the cuts
shr loss 14 cts vs profit 23 cts net loss 835000 vs profit 950000 revs 8617000 vs 118 mln
continental also said that as of march 2 it had cash of more than 250 mln dlrs and equity of about 2846 mln dlrs allowing for a final total distribution of 1660 dlrs per common share
outokumpu restructures copper division
but he said there was still a danger that the correction of the dollars value could overshoot
januarys sales were 282 billion dlrs or 07 pct below the january 1986 level of 43156 billion dlrs
the bundesbank will not hold a press conference after its regular fortnightly council meeting tomorrow a spokesman said in answer to enquiries
in recent years good autumn weather has given yields a late boost making up for lower areas despite some disappointing starts to growing seasons
moodys pointed out that the company has minimal levels of variable rate debt
portuguese consumer prices up 14 pct in march
general partners said it began a 100 dlrs a share cash tender offer for all of gencorp an akron ohio based concern that is worth nearly 23 billion dlrs
the bundesbank has a natural interest in seeing domestic savings channelled into bonds and shares thomas said
in the group this nearly doubled to 264 billion marks from 145 billion
it looks like the national savings move reflects this one senior dealer said
gulf resources gre sees 1st qtr pretax profit
coastal cgp raises oil posted prices
moving reluctantly into line with most private sector forecasts the government yesterday raised its 1987 inflation estimate a half percentage point to 25 per cent and cut its economic growth estimate to between two and 28 per cent from a 28 per cent target written into the annual budget last september
trade interests ready for fight in us congress
he said the changes sought by the us would require loan approval by a greater majority of shares than a simple majority
mhi group mh affiliated with cemetary offer
imports of wool rose 1176 pct to 10248 tonnes over the same period the figures show
cheyenne said it had five pct or less interest in the three other properties
ec rejects all free market wheat export offers at weekly tender traders
british aide criticizes usprotectionism
reichhold rci raises waferboard resin prices
barclays bank plc bcsl and midland bank plc mdbll said they are cutting their base lending rates to 105 pct from 11 pct
portugals trade deficit narrowed in 1986 to 3365 billion escudos from 3548 billion in 1985 according to provisional national statistics institute figures
shr loss one ct vs loss one ct net loss 483518 vs loss 220582 sales 381841 vs 400518 note 1985 net includes 196868 dlr gain from forgiveness o accrued interest due to affiliates
it attributed the sales decline to a transition period for its new products and a delay in a major order
the restatement results from a tentative agreement reached in february with pertamina the indonesian state owned petroleum enterprise and japanese purchasers of lng
india steps up countertrade deals to cut trade gap
the new york branch of mitsubishi bank ltd said it set a one billion dlr us medium term certificate of deposit note program
belgrade tanjug says yugoslavia reaches paris pact on refinancing part of debt
van ommeren plans 75 mln guilder bond issue
us lines said negotiations on the contract are expected to be completed within the next week
ideally we the government should have a full term but events could force a premature poll lawson said
stoltenberg says criticism not one way street 
french gross domestic product should grow by 23 pct in 1988 after two pct growth this year and 21 pct in 1986 the finance ministry said
sallie mae said it generally offers short term floating rate notes each month
crude oil imports in the week fell to 398 mln bpd from a revised 422 mln api added
instead he argues banks should either be required to hold a percentage of the face value say one pct per year to maturity or to hold a percentage of the cost of replacing the contract in the event of a counterparty default
telex corp said its board adopted a shareholder rights plan which will allow shareholders to purchase one common share for two dlrs if a hostile group acquires 15 pct or more of the company
japan is attempting to cut back semiconductor production to forstall the 300 mln dlrs in us tariffs on japanese electronic goods set to take effect april 17 industry analysts said
in august the rate of increase was 110 pct
the recently refurbished and expanded theater is located in garden city ny
the company said it expects the transaction to be completed by september 1 1987
exports rose to a record 693 billion last month from 620 billion in january
it said the estimates reflect a decrease of about 44 pct in net reserve revenues and 39 pct in discounted present value compared with the study made in 1985
texas commerce bancshares inc said that relatively stable oil prices and the banks planned merger with chemical new york corp chl would help 1987 earnings increase from last years profits of 20 mln dlrs
shr 970p vs 853p div 225p vs 200p making 350p vs 305p pretax profit 2539 mln stg vs 2679 mln tax 963 mln vs 1256 mln operating income 115 billion vs 9988 mln operating expenses 7593 mln vs 6927 mln trading profit before charge for bad and doubtful debts 3944 mln stg vs 3061 mln charge for bad and doubtful debts 1842 mln vs 1007 mln share of profits of associates 437 mln vs 625 mln minority interests 66 mln debit vs 96 mln debit extraordinary items 87 mln debit vs 157 mln credit operating income includes interest income 249 billion vs 233 billion interest expenses 177 billion vs 164 billion other operating income 4288 mln vs 3132 mln operating expenses include staff 4059 mln vs 3760 mln premises and equipment 1970 mln vs 1552 mln others 1564 mln vs 1615 mln pretax profit includes north america 658 mln vs 496 mln asia pacific 09 mln vs 318 mln middle east and south asia 177 mln vs 23 mln tropical africa 475 mln vs 447 mln uk 1076 mln vs 1357 mln south africa 368 mln vs 356 mln
but if the merger does not occur bakers senior debt would be cut to a minus from a and commercial paper to a 2 from a 1
geoffrey pyne analyst at stockbrokers phillips and drew said he was impressed by the sensible us response
general electric ge 1st qtr helped by rca
denominations will be 50000 francs and payment is due march 31
he said at a meeting of ec states representatives here yesterday britain undertook to communicate its own decision to its partners today
uk money market gets 347 mln stg afternoon help
the company said the loss was attributable to costs associated with its acquisition costs and operating losses of nine beckett aviation fixed base operations purchased in august 1985 and discontinued weather service and flight simulator segments
the agent said deliveries of northern spring dns wheat will include laydays of july 1 10 for 7500 9500 tonnes august 1 10 for 8000 10000 tonnes and september 15 25 for 12500 14500 tonnes
consumer spending also tailed off in december because of bad weather and smaller than normal end year bonuses they said
grain handling at rotterdam ports main grain terminal was at a standstill today as members of the largest dutch transport union fnv staged a lightning strike for the third day running
usda reports 350000 tonnes corn to unknown
he cited a sharp drop in non earning assets healthy asset growth and lower expenses
analysts said they foresaw no major complications that would abort a combination which historians said would be the auto industrys biggest merger since american motors was formed in 1954
avx was listed on s and ps creditwatch with negative implications on december 17 1986 because of the proposed acquisition
mannesmann is buying 75 pct of mec sachs vermoegensholding which owns 375 pct of sachs ag which in turn holds 965 pct of fichtel und sachs
hughes tool said it counted a total of 692 rigs drilling on land 74 rigs active offshore and 18 drilling in inland waters
the value of kuwait crude fell 14 cts to 1837 dlrs while iranian light fell 11 cts to 1914 dlrs
the state owned british steel corporation benefitting from massive recent write offs of its accumulated debts is currently one of the few ec steel companies in the black
bsn corp said its agreement to sell 1750000 new common shares or a 25 pct interest to 31 unaffiliated european institutional investors for 304 mln dlrs has become definitive
because of the rating cut to ccc plus from b minus the underwriter halted sales and repriced the issue
the acquisitions appreciably develop and strengthen glynweds strategic position in the thermoplastic pipework systems market
they added that of the 97 mln cars in the ec only 20 mln now ran on regular leaded petrol and these would risk no damage if they switched over to premium leaded petrol
indeed a texas state court of appeal this morning said the bankruptcy petition effectively stays texacos obligation under texas law to post a bond in its 1053 billion dlr litigation against pennzoil co pzl the filing was not the result of credit weakness
health images inc himgo 3rd qtr net
in a filing with the securities and exchange commission the group which includes shamrock associates included a march 6 letter to prime which asks for a complete list of all shareholders and their addresses
peter friend of walywn stodgell cochran murray ltd said institutional buyers will be eager to add air canada to their portfolios as a blue chip investment but warned that new competition makes profit growth less certain
the office of finance of the federal home loan banks announced a debt offering totalling 2135 billion dlrs consisting of three issues
he said the ec not only ignored manilas request for lower tariffs on coconut oil but introduced a levy on vegetable oils and fats that are vital exports for southeast asian countries
the offering was seen by the banking industry as one of the major deterrents to first interstate bancorps i take over bid which it withdrew on february 9
berkshire gas co bgas pays regular qtlry div
japanese firms are becoming more aggressive now he said
the january decline in sales was the largest since last october when sales fell 93 pct
georgia power said the revised vogtle budget estimate was due to several factors including additional labor costs incurred to keep the plants first unit on schedule for commercial operation by june
shamrock capital is a limited partnership led by shamrock holdings inc the roy e
standard and poors corp said it upgraded 295 mln dlrs of debt of hawaiian telephone co a gte corp unit
that left the 1985 account with a 756 mln franc loss instead of 692 mln 1984 with a 68 mln profit instead of 169 mln 1983 with a 217 mln loss instead of 82 mln and 1982 with a 479 mln loss instead of 179 mln
bpi systems inc said it is holding discussions that could lead to the sale of all its outstanding shares for about 12 mln dlrs
traded volumes for uk grain and potato futures in february were down on the previous month while pigmeat and pig cash settlement futures were higher official figures show
the bank said the loan is being made through its affiliate the international development association and will be used to restore economic confidence approve the allocation of resources and stimulate economic growth
genex said the rights would not be transferable separately from the common stock
the 24 nations of the organisation for economic cooperation and development oecd hampered by sluggish industrial output and trade face slower economic growth and their joint balance of payments will swing into deficit in 1987 the economist intelligence unit eiu said
the issues real rate of return price and the amount of the first interest payment will be fixed at 1400 gmt today
data architects inc dai 2nd qtr may 31 net
in the audited results released today the company broke down results by business segment
in fact he could be said to be actively depressing it one company spokesman said
allegis aeg meets with united employees group
leading us farm state senators are seeking to insert into the senates omnibus trade bill a provision that would broaden eligibility requirements under the us agriculture departments export enhancement program eep to include traditional buyers of us farm products including the soviet union senate staff said
but that cost will be more than offset by an extraordinary gain of about 60 mln stg on allied lyons sale of its 249 pct interest in australian brewers castlemaine toohey he said
memotec data said teleglobe which has provided canadas overseas telecommunications services since 1950 now becomes teleglobe canada inc a unit of memotec
but they were isolated to just a small portion of the west texas area probably less than five pct mohler said
despite the apparent differences in stakes offered the cable spokesman said the two offers appeared to be essentially the same
cummins engine co inc cum sets payout
canada industrial production up 253 pct
so far this year the won has gone up by 08 pct against the dollar after a 334 pct revaluation in 1986
american motors amo march output falls
the company also said it approved a certificate of designation with respect to its 45 mln shares of authorized but previously undesignated and unissued shares of preferred stock and adopted an employee stock ownership plan
in addition coopervision said operating income in its current fiscal quarter ending april 30 is expected to show an improvement over its prior fiscal quarters 825 mln dlrs and its year ago quarter
new dutch advances total four billion guilders
northview novco plans to sell company
opec believes world oil prices should be set around a fixed average price of 18 dlrs a barrel oapec assistant general secretary abdelaziz al wattari said today
mercury entertainment corp said it expects improved results in 1987
the recent stability would last until markets decided to test the resolve of central banks he said
the fnv said the actual losses were nearer 17 to 20 mln and said the employers had inflated the figures as part of their plan to restructure completely the ports general cargo sector
the 1987 target is 405 mln
bankers said the measure is designed to curb the inflow of foreign exchange and slow the growth of money supply
remaining 18 pct of sealy is recorded as minority interest
plans by the us based icn pharmaceuticals inc icnn to issue a mark eurobond soon are in doubt owing to uncertainties about future expansion arab banking corp daus and co gmbh abc daus said
he said the government had cut agricultural investment to three to four pct from 11 pct
wright who has not hitherto concerned himself with debt is concerned about the potential for damage
he told reporters at an energy conference in jakarta that opec had decided to maintain its price level of 18 dlrs
we didnt see that a year ago he said
shr 65 cts vs 67 cts net 49517000 vs 47732000 revs 2292 mln vs 2457 mln avg shrs 65994142 vs 63293867 note per share results reflect payment of preferred dividend requirements
durham told the company was examining potential candidates but not yet talking with any
while declining specifics on his corporate strategy when asked if acquisitions will be part of the plan pinola replied thats undoubtedly a fair statement it would be almost naive not to think that pinola characterized his acquisition strategy as opportunistic he said he will look for banks in management trouble that he can get at a bargain then add management to restore profitability or for banks in states where first interstate already operates then cut costs by combining resources
the bonds are also better for those who expect the australian dlr to appreciate
some said sumitomo may have paid too much for heiwa sogo in view of the smaller banks large debts
shr nine cts vs three cts net 549000 vs 72000 rev 70 mln vs 28 mln year shr 49 cts vs 32 cts net 2441000 vs 801000 rev 196 mln vs 97 mln
merrill was the arranger for that program and will act as one of the dealers along with salomon brothers international ltd and swiss bank corporation international ltd
moodys affirms chrysler c and unit
waste management also said that chemlawn has offered to supply waste management with materials being forwarded by chemlawn to other potential purchasers of chemlawn but only if waste management agrees to conditions which would result in termination of its current offer and a 120 day standstill on any unnegotiated transaction
shr 19 cts vs 10 cts net 653464 vs 287606 revs 106 mln vs 7600000 year shr 68 cts vs 46 cts net 2309181 vs 1408813 revs 384 mln vs 260 mln
the personal savings rate eased to 36 pct in february from four pct in january the department said
international monetary sources say finance ministers and central bankers who will review market performance and their own economic prospects will reassemble again in washington just before the april 9 policymaking meeting of the international monetary fund
azpurua was commenting in a television interview on fridays agreement to lower the interest margin to 7 8 pct over libor from 1 1 8 pct and extend the period to 14 years from 12 1 2
winston wallin medtronic chairman said the company will improve market share in fiscal 1988 in cardiac pacemakers and expand its cardiovascular therapeutic product line
period ended jan 31 oper shr loss 66 cts vs loss 129 dlrs oper net loss 1309000 vs loss 2522000 sales 251 mln vs 199 mln year oper shr loss 65 cts vs loss 97 cts oper net loss 1287000 vs loss 1882000 sales 1134 mln vs 766 mln note earnings exclude a loss on sale of discontinued operations of 17000 dlrs or one ct a share vs a gain of 1383000 dlrs or 70 cts a share in the quarter and gains of 300000 dlrs or 15 cts a share vs 1941000 dlrs or 100 dlr a share for the year
david ruder a 58 year old republican law professor at northwestern university in evanston ill was named thursday to be the 23rd chairman of the five member us securities and exchange commission
bankers trust is the trustee for the debentures
hodel said the loss of some domestic oil production through the shutdown of stripper 10 barrels a day or less wells because of low prices was probably permanent
prior qtr and year figures exclude losses from discontinued operations of 600000 dlrs or 17 cts per share and 11 mln dlrs or 33 cts per share respectively
lme ring dealers said the new contract would match more closely trade requirements and possibly alleviate some of the recent wide backwardations
southmark said the offers record date is may 1 with an ex dividend date of april 27 adding that the it will issue the rights to shareholders on may 6 and the offer will expire on may 22
dean foods df sees strong 4th qtr earnings
total bahia sales are currently estimated at 613 mln bags against the 1986 87 crop and 106 mln bags against the 1987 88 crop
showers continued throughout the week in the bahia cocoa zone alleviating the drought since early january and improving prospects for the coming temporao although normal humidity levels have not been restored comissaria smith said in its weekly review
getty petroleum gty sets stock dividend
nearly 108 mln tons of ore was milled three pct higher than the prior year while revenues rose 17 pct to 165 billion rand and profits increased 65 pct to 831 billion rand the chamber reported
olson industries inc olsn 4th qtr net
intermagnetics general corp said it completed the purchase of the advanced products department of air products and chemicals inc apd terms were not disclosed
bilzerian did not provide details with respect to financing of his proposal which is not subject to a financing condition
the measure would have the most impact on japan west germany taiwan and south korea
some 7000 south african miners return to work
us congressman introduces reagan sugar bill
topps had been public once before but went private in a leveraged buyout in 1984
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
brokers said the market was steady early this morning but began to slip marginally by late morning as rumours of a new issue circulated
ibc president jorio dauster is meeting government ministers producers exporters and market analysts to assess brazils position in the light of the failure of talks in london earlier this month to set new international coffee organization ico export quotas
he told brazil was not planning to modify the position it held before the recent international coffee organisation meeting
the government aims to narrow the current account deficit for the whole of 1987 to 975 mln dlrs compared with 152 billion last year up from 101 billion in 1985
an economist at a german bank who declined to be identified said if poehl is confirmed in his post it will certainly be a plus for the pragmatic course which is not so rigidly oriented towards money supply one of poehls great struggles recently has been to persuade the united states to stop talking down the dollar
three for two stock split pay and record date subject to shareholder confirmation may four qtly dividend 5 1 4 cts vs four cts pay may 15 record may one note dividends declared on pre split shares
analysts said the companys downbeat forecasts helped shares dip to 242p in mid afternoon down 4p from yesterdays close and off an early high of 248p
im quite optimistic about carrying out a serious and quick negotiation treasury secretary mario brodersohn said on return from talks in new york with leading us and world financial officials
no reason was given for the recent purchases
the rules would be published by the finance ministry and the central bank
banking authorities and police are investigating an alleged fraud by the second largest trading house in the caracas free foreign exchange market finance minister manuel azpurua told reporters
shearson stressed however that the spread over the commercial paper index to be paid by an issuing bank will be determined by investor demand
zim energy zimr to sell shares privately
wichita also said it made a number of refinancing agreements in connection with the acquisition
nyse says loral lor will not comment on stock
producers say they want the buffer stock to consist only of icco member cocoa comprise a representative basket of various grade cocoas and pay different prices for different grades delegates said
metrobanc mtbc shareholders approve merger
oper shr 99 cts vs 54 cts oper net 9515000 vs 3449000 revs 5093 mln vs 4405 mln note 1985 net excludes extraordinary gain of 12 mln dlrs
adb president babacar ndiaye released a 1987 economic report on africa prepared by the adb and the un economic commission for africa eca saying progress was being made toward substantial increases in the banks capital resources
oil traders in the new york area said exxon corps exxon usa unit reduced the price it charges contract barge customers for heating oil in new york harbor 050 cent a gallon effective today
business in the first three months of 1987 developed positively it added
there will be a call from 90 days after payment at 106 declining by one pct per annum to par but not before march 26 1992 unless the share price is 130 pct of the conversion price
mdc holdings inc said it sold substantially all the assets of its oil and gas unit mizel petro resources inc and affiliated partnerships for 38 mln dlrs in cash to parker and parsley petroleum co midland texas
it makes for an explosive type of situation that often leads to a breakout in this case to the upside sloane said
asked if the united states should consider increasing interest rates to support the dollar he said if there is a need for changes in relative interest rates it doesnt need to be a rise in interest rates in the united states lawson said there was some concern expressed in yesterdays meetings at the slow progress the united states had made in reducing its budget deficit
the loan will also help pay for new trains
at that price uspci could maintain a stock price in the low 40s augenthaler said
nacco reported earnings of 108 mln dlrs or 111 dlrs a share in last years second quarter
uk property company greycoat group plc is seeking two financings one for 120 mln stg and the other for 16 mln stg in connection with its embankment place development above and around charing cross station in london banking sources said
the tender calls for shipment of 6100 tonnes in may 12200 tonnes each in june july and august and 12300 tonnes in september they said
mobil mob capital expenditures lower in 1987
allegheny international inc said it sold its wilkinson sword consumer group to the swedish match co of stockholm for for 230 mln dlrs
the new advances for the period march 25 to april 4 replace current 53 pct five day advances totalling 4003 billion guilders which expire today
ameritrust amtr proposes 2 for 1 stock split
ascs buys peanut products veg oil shortening
firm acquires american nutrition works inc 
pdvsas contribution to the treasury last year was 44480 billion bolivars
the combination of former archrivals republicbank and interfirst giving the two banks a virtual lock on the dallas banking market has not changed texas commerces expansion plans for the states second largest city love said
jordan and sudan signed a barter trade agreement under which they will exchange 100 mln dlrs worth of goods a year sudanese officials said
hj meyers and co inc will manage the underwriting of the offer
one way west germany agreed to do this was making a round of tax cuts worth 39 billion marks from 1990
telecom said it advised siemens it intends to close the transaction on march 16 as scheduled if it is approved by shareholders
it could find its true water mark with a lesser exposure to brokerage
shr loss five cts vs loss eight cts net loss 657000 vs loss 566535 revs 9341755 vs 260468 avg shrs 14323384 vs 7081688 nine mths shr loss 19 cts vs loss 39 cts net loss 2449094 vs loss 1408789 revs 15571230 vs 683684 avg shrs 12655172 vs 3612300
industry sources said they expected the ministry to approve the plan because it has encouraged the japanese futures industry to expand and internationalise
it had sales of 171 mln dlrs in the period
pipelines also transport its own gas to customers
currently the only other potentially diluting instruments are the warrants that the company also issued in connection with the hybritech acquisition
cbi survey points to surge in uk output
as of march 13 renouf said about 3847375 units had been tendered
fiat spa fiatmi said it had no plans to issue eurobonds linked to shares still held by banks after the placement of the 15 pct libyan stake in fiat last autumn a company spokesman said
all three ministers involved in the reshuffle had spent more than four years in their posts
speaking to reporters caputo said the near doubling in trade showed the tangible and immediate results of a wide ranging economic integration accord signed by the presidents of both countries last july
caesars world caw rejects sosnoffs offer
terms were not disclosed and company officials were unavailable for comment
california biotechnology inc said it expects to report a loss of 1300000 dlrs to 1600000 dlrs for the first quarter due to increased investment in research and manufacturing and a scaleup of production
sterivet laboratories ltd said it authorized a three for one split of its common stock
the agency cited chemicals relatively large exposure to latin american borrowers particulary brazil and mexico continued high levels of nonperforming assets and the pending acquisition of texas commerce
terms were not disclosed
swire pacific ltd swpchkg said it plans for a one for five bonus issue for both its a and b shares following an earlier report of a 447 pct jump in 1986 net profits to 178 billion hk dlrs
meanwhile production of refined lead in january rose to 28188 tonnes from 23693 in december but slab zinc production fell to 4490 tonnes from 5793 the wbms figures showed
the spot riyal stood at 37500 05 to the dollar after 37506 09 yesterday
disease puts zimbabwe beef exports in jeopardy
weizsaecker speaking at a reception held for him by president raul alfonsin at buenos aires city council hall also said no one could overlook the enormity of the obstacle posed by the foreign debt to countries like argentina
media general mega ups dividend sets split
the government was easing procedures to enhance incentives especially for exporters of textiles and frozen food and importers of industrial machinery and raw materials munim told reporters
chinas state owned beijing non ferrous metals industrial corp and wrought copper ltd of chile signed a contract to jointly build a copper tube plant on the outskirts of peking the china daily said
roberts urged kay to convey to top officials of the usda that some in congress favor a wheat eep to moscow
the cut follows announcements of cuts yesterday by citibank ltd to 1600 pct from 165 effective today and commonwealth bank of australia to 1575 pct from 1625 effective june 24
ec officials have said that if the commission has to buy the sugar it is determined immediately to resell it a move which could drive down market prices further
he said australias interests in the uruguay round the eighth under the gatt are wide ranging
a management group is currently being formed
the bonds are callable on april 15 1992 at par and at any time for tax reasons
borg warner bor corp facing an unwanted offer from gaf corp gaf agreed to a 423 billion dlr buyout offer from a company to be formed by merrill lynch capital partners inc borg warner and merrill said yesterday they entered a definitive merger agreement under which a subsidiary of the new company av holdings corp will begin a 4850 dlr per share cash tender offer today for 776 mln shares or 89 pct of borg warner common stock
renault is a leader in our industry and i am happy to be working with them iacocca was quoted as saying
roy f weston inc said it filed with the securitites and exchange commission a registration statement covering a 30 mln dlr issue of convertible subordinated debentures due 2002
full year results will be published in june
but now with all the smuggling even the state cant compete with smuggled dominican refined sugar rigaud said
next few months crucial for oil hernandez
the selling concession is 1 1 2 pct while management and underwriting each pay 1 2 pct
this brought total imports in 1986 87 ending march 31 to 109 mln tonnes against 125 mln a year earlier
yesterday the company said it agreed to sell the division which has annual sales of about 300 mln dlrs and is based in long beach california
southmark sm acquires 28 nursing homes
kemper financial services economist john silvia stressed that any deficit reduction was better than none
and director arnold t
the market is wary of being caught wrong footed by a central bank foray but is no longer mesmerized
but iran was not deterred according to us defense officials who said iranian forces used chinese made silkworm missiles to hit a us owned liberian flagged ship on thursday and the sea isle city on friday
public comments by fed officials suggest the central bank is keeping credit conditions broadly unchanged but if the major economies continue to show sluggish growth and the us trade deficit remains stubbornly high further coordinated action could be on the april agenda
first michigan bancorp fmbco 3rd qtr net
s p may upgrade wainoco oil wol 
cash proceeds from both sales will be used to reduce outstanding debt
a float of part of delhi would have raised between 200 and 300 mln dlrs but in opting to sell outright csr had given itself the cash to all but eliminate its debt and embark on an ambitious expansion programme in its best performing divisions of sugar and building products analysts said
jestin said given the fact the us economy is showing signs of weakening particularly car sales it would indicate that part of the strength in canadas trade figures is probably transitory
quinn echoed the sentiment of many analysts that there are large amounts of cash waiting to be invested
but he said it may only be a quarter point drop instead of the usual half point to avoid hurting the dollar further
we are prepared to support those steps which we believe are consistent with the development of the indonesian economy he said
imperial chairman arden haynes said in the annual report that it is too early to determine whether the recent upward movement in international oil prices will be sustained
gould inc said it sold its french battery unit cie francaise delectro chimie to a group of investors including the units employees and gnb inc of minnesota
security pacific expects brazil loan action to cut net by 72 mln dlrs
at a time when the world is attempting to liberalize trade in the new rounnd of multilateral negotiations it is incomprehensible that a country that stands to gain so much from the reduction in agricultural trade barriers would threaten that process by caving in to pressures for protectionism council president darwin e
april delivery cattle on the chicago mercantile exchange closed at 6445 cents a pound up 083 cent as the market expected demand for live animals to increase as the plant restarts operations
proceeds will be used to redeem after june one all outstanding shares of the companys cumulative preferred stock four dlr series redeem certain outstanding long term indebtedness and repay outstanding short term indebtedness
uk authorities have lost patience with japanese trading practices and said they are seeking ways to retaliate without unleashing a damaging trade war
shr loss four cts vs profit four cts net loss 93574 vs profit 100469 revs 3125532 vs 3253239 nine mths shr loss three cts vs profit seven cts net loss 67184 vs profit 179116 revs 9125965 vs 9284055
am international inc reporting an operating loss for the january 31 second quarter said prospects for the balance of the fiscal year remain good
an interagency committee is reviewing the industrys draft petition
the officials took comfort from a decline in the volume of exports last month after an unexpected year on year increase in january
fees total two pct and are divided 1 3 8 pct for selling and 5 8 pct for management and underwriting combined
abu dhabis offshore abu al bukhoosh oilfield in the gulf shut since an aerial attack last november will reopen when new anti aircraft defences are ready and this could be in the next two months oil industry sources said
hanson han to buy intl protein pro stock
the sec as a matter of policy never comments on its enforcement activities
the shipment of 22 mln barrels represents two days of consumption
it will invest in international shares with the emphasis on us and japanese markets he said
it is currently operating at around 50 pct capacity a company spokesman said
comdata said it may terminate the agreement if financing is not arranged by april three
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
vulcan corp said it was discontinuing its efforts to negotiate a purchase of the common stock of jones and vining inc
temperatures tonight in most of texas are expected to drop to freezing to the low 20s although the lower rio grande valley may see more moderate readings in the middle 30s according to meteorologists at accu weather inc
the bank of england said it had invited an early round of bill offers from the discount houses after forecasting a shortage in the system of around 11 billion stg
it said it would offer 1500 billion lire of six month paper priced at 9535 pct for a net annualised compound yield of 930 pct
ual inc said it completed the acquisition of hilton international from transworld corp twt paying 9825 mln dlrs in cash and securities
s and p said it would review managements plans to sell assets and use proceeds to reduce debt
canada plans a three part one billion dlr issue tuesday which will be dated and delivered may 1 the finance department said
armel is a specialty retailer of a broad line of athletic and leisure footwear accessories and other sportswear
holders of the certificates are entitled to a quarter of the 1986 payment or around 250 marks the company added
however he is not optimistic that opec can address its principal problems
but british authorities would be far from happy if forced to use that weapon government sources said
it said revenues for the period were about 119 mln dlrs about even with those of a year earlier
colombia with stockpiles standing at about 10 mln bags exported a record 115 mln bags in the 1985 86 coffee year which ended last september and 113 mln in calendar 1986
it said the results could have been even better had it not been for the collapse of refining and sales profit margins in the last quarter of the year
shell canada ltd 72 pct owned by royal dutch shell group rd st scheduled its annual maintenance refinery shutdowns during the next two months company spokeswoman judy wish said
the loan will be 100 pct guaranteed by sace the official italian export credit agency
along with the 1449550 units already held by renouf it now owns 934 pct of the 5745706 units outstanding
news of an agreement among g 5 and g 7 finance ministers meeting in washington this week will be key to the direction of currency futures at the international monetary market but any such agreement will need to go beyond the paris accord to stem the recent rise in futures financial analysts said
at the same time there are countries favoured by the current system that have been assigned quotas far above their export potential he said
the agreement assures that the unit meets its obligations on time and requires it to operate within specific guidelines
usda sets 0 92 provision for some producers
the index has been updated o reflect 1982 84 consumption patterns previously the index was based on 1972 73 patterns
astrotech international corp said its director s
cyacq comprising audio video affiliates inc citicorp capital investors ltd and other investors yesterday said it would increase its tender offer for cyclops to 9250 dlrs a share from 80 dlrs subject to certain conditions
shr loss two cts vs profit three cts net loss 77400 vs profit 134000 revs 418500 vs 435900 year shr profit eight cts vs profit 27 cts net profit 315100 vs profit 1082700 revs 1761900 vs 2511200 note per share figures adjusted for four for three stock distribution effective dec 14 1984 1985 results include an extraordinary tax benefit of 55000 dlrs or one ct a share in each period
central bank president javier nogales told the negotiations with the paris club which have yet to be finalised had been extremely successful
defense secretary caspar weinberger on sunday declined to discuss specifics but said the united states would do whatever was necessary to keep the gulf shipping open in the face of new iranian anti ship missiles in the region
the reserve bank of india rbi announced new rules to allow exporters of 25 products to use foreign exchange up to 10 pct of their firms total annual export earnings for export promotion abroad
the treasury will also offer 9500 billion lire of six month bills at a base price of 9535 pct for an effective annualized net yield of 924 pct
there is also a view among european traders that while the proposed kuala lumpur tin futures market would provide another useful reference point a market inaugurated by the malaysian government in the past viewed as a major player at times by the trade would make participants uncomfortable
now it is much less certain buoyant share prices are supposed to reflect a booming economy
in 1986 the company earned 4513 mln dlrs or 221 dlrs a share on revenues of 349 billion dlrs
it has commitments to export another 381171 tonnes this year
it is vital to the industry that we get this problem behind us
the company also said it expects to report a 10 mln dlrs net gain in the quarter from excess pension funds used to pay down debt
it said each preferred share would be convertible to 185 common shares on either march 31 1997 or the business day before a fixed redemption date
some governments including austria had linked their final approval to other trade credit issues which would be discussed at a meeting here in mid april they added
audiotronics corp ado to offer debt
trade payables and obligations incurred in the ordinary course of business will be met
irving put 215 mln dlrs of brazilian and 33 mln dlrs of ecuadorean loans on non accrual reducing first quarter net income by a total of 44 mln dlrs after tax
usda said moscow already has purchased over 25 mln tonnes grain for delivery in 1986 87 including 14 mln tonnes wheat and 12 mln tonnes coarse grain
everybody wants an open investment policy but there have to be some exceptions for the national interest baldrige was quoted as saying
live hogs were pressured early by the agriculture departments report tuesday that producers expanded their breeding herds more than the market expected last quarter
cba novel australian dlr issues upped to 125 mln
thailand exported 56652 tonnes of rice in the week ended april 7 down from 75160 tonnes the previous week the commerce ministry said
australian trade minister john dawkins told the reporters bilateral retaliation at the enormous expense of the rest of the world was no way to solve trade disputes
it said its outlook for the year remains unchanged
it will buy back the notes at par value plus accrued interest du pont overseas said
fundamental brokers inc a major us brokers broker has decided to launch yen bond broking on its display system in new york as early as april
the extra fiscal measures planned for next year are part of a general reform of the tax system which will come into effect in 1990
in a joint statement american express and shearson said the actions under consideration are an integral part of american express worldwide financial services strategy and that the two companies have been having both internal and external discussions on the matters
any final decision on easing the quota must be made by the reagan administrations interagency sugar policy group
ryan said combined is testing a direct response long term care product through its union fidelity life insurance co and has plans to offer it through ryan insurance group
analysts said the change will discourage some farmers from participating in the program which could result in more cotton
safeway agrees to severance for dallas workers
shr primary 99ct vs 82 cxts shr diluted 93 cts vs 78 cts net 7784000 vs 6357000 assets 325 billion vs 274 billion deposits 258 billion vs 224 billion loans 220 billion vs 181 billion
for the past two years the government has struggled with an economic reality that demands measures beyond those which it sees as politically practicable it said
the ministry had originally estimated that industrial production fell 30 pct in january
shr 14 cts vs 14 cts net 213000 vs 210000 revs 229 mln vs 229 mln nine months shr 42 cts vs 42 cts net 630000 vs 628000 revs 689000 vs 689000 note full name pittsburgh and west virginia railroad
three grades are not warranted said henry rosenberg chairman of crown central petroleum cnp refiners will have to upgrade again he added
duff and phelps said it lowered its ratings assigned to minnesota power and light cos fixed income securities covering about 442 mln dlrs in debt
swire seen reporting 20 pct rise in 1986 profit
ati medical inc atim 2nd qtr jan 31 net
treasury secretary james bakers comments that the g 6 nations remain committed to the paris accord coupled with his refusal to give any targets for exchange rates provided a note of stability to the market tuesday the analysts said
mr camdessus assured president moi that the imf would continue to give kenya maximum help it added
dry weather covered most european crop areas in the week ended march 14 except for those in southwestern france southern italy and greece the joint agricultural weather facility of the us agriculture and commerce departments said
venezuelan president defends refinancing accord
the chubb corp cb sets qtrly payout
pentland said that as soon as the date and price of the offering have been determined it will release further details
the specter of argentina emulating brazil and suspending interest payments haunted policymakers and bankers alike who have long feared the emergence of a debtors cartel
the borrowings actually averaged 265 mln dlrs in the latest statement period and that was up from 191 mln dlrs in the prior period
the new york trade sources said if pasars shipments were delayed customers might have to turn to the london metal exchange for supply
dealers said the intervention halted a sudden late morning drop to a low of 14865 yen holding the dollar steady until midsession at about 14880
under the offer the company said holders of the preferred would receive one share of a new issue of convertible redeemable preferred stock for each share of their 1985 preferred
wallin said our objective is to get a hold of new products and start building market share if we have to beg borrow or steal to get into new markets in the past medtronics pacemakers have been plagued with a number of problems leading to product recalls
joe gold said if the necessary operating permits were granted in time it would start gold production in the second half of the year ending october 31 1988 at an annual rate of about 40000 troy ounces
the centre said the strength of the swiss franc which has firmed sharply in recent months would continue to put pressure on swiss exporters
centel corp is raising 50 mln dlrs through an offering of debentures due 2017 yielding 9233 pct said lead manager smith barney harris upham and co inc
under ongpins rescheduling plan the philippines would offer to make interest payments in cash at 5 8 pct over the london interbank offered rate
ecuador will ask opec to raise its oil export quota by 100000 barrels per day to 310000 to compensate for lost output due to last weeks earthquake deputy energy minister fernando santos alvite said
the cla would then report back to the commerce ministry which had requested the enquiry
snyder did not say whether it has received any response to its proposal from cenergy
erk said the capital and other requirements for issuing commercial paper is too high for some turkish companies to meet
shipping sources say unidentified jets raid iranian oil platforms in southern gulf
the bureau attributed the fall to a long christmas break and particularly cold weather which lowered production in the forestry industry
a company spokesman said the proposals appear to have been made in todays edition of the japanese daily asahi by fumio watanabe head of a telecommunications committee with the federation of economic organisations
president andrew tananbaum said the announcement will follow a regularly scheduled board meeting
its a very complex transaction but basically what happens is they ostensibly put up money but the fees recapture any investment they might have once the merger takes place gardner said
1985 operating net for the quarter and year includes a pretax gain of nine mln dlrs from the sale of two divisions and a loss from discontinued operations of 285 mn dlrs in the quarter and 37 mln dlrs in the year
the report was prepared jointly by the central intelligence agency and the defense intelligence agency for the congressional joint economic committee which released it
in the first case the board said it found knapp failed to maintain rquired net capital filed inaccurate focus part 1 reports and inaccurately calculated the amount required to be on deposit in the special reserve account
mpt has helped block finance ministry plans to deregulate interest rates on small deposits a key element in financial liberalisation since the change would remove the postal savings systems ability to offer slightly higher rates than banks they said
us treasurys mulford reaffirms g 6 pact to foster currency stability around current levels
us government expands crackdown on bad debts
dow chemical launches 200 mln swiss franc bond
the paris club of creditor nations agreed to a major rescheduling of ugandas and mozambiques government to government debts the club said in a statement
payment date is april 30
but christians said the bank still regarded shares in these non bank companies as an investment rather than an active participation
china faces dilemma over sugar imports
board of foreign trade director vincent siew told reporters on saturday us officials told him in washington last week that unless taiwan allowed its dollar to rise faster it would face retaliation
the year on year rise was put at 37 pct down from 42 pct in february
the order was given to the hudong shipyards in shanghai after lengthy negotiations with west german shipbuilders the company said in a statement
xerox corps uk unit rank xerox ltd said it agreed in principle to sell its south african company rank xerox south africa pty ltd to altron groups fintech unit
roy garofalo woolworth vice president told that income generated by the companys specialty store operations accounted for 52 pct of the parent companys 1986 profits
shr loss 57 cts vs loss 30 cts net loss 59 mln vs loss 32 mln revs 56 mln vs 163 mln year shr loss 211 dlrs vs loss 95 cts net loss 220 mln vs loss 99 mln revs 293 mln vs 663 mln
it said 39000 options have been exercised to net the company 25530 dlrs to be added to working capital
the copper mine and smelter produced 72000 tons of copper anodes in 1986
david m
the decline in foreign exchange reserves reflected the dismantling of swap arrangements the national bank said
i think that is the unrealistic position i would suggest that they ec listen to what we are trying to say lyng also rejected suggestions the us and ec agree a freeze in export subsidies to get the gatt negotiations started
porla crude palm oil trade report for april 2
wilson estimated the deficit will fall to 293 billion dlrs in the year ending march 31 1988 the same level as he forecast in the february budget
the bank of england also apparently sold sterling in london when it neared 160 dlrs on wednesday they said
he criticized the attitude of the outgoing irish government in recent ems realignments the punt was devalued by eight pct last august
the proportion of the facility to be issued in australian dollar paper will depend on investor demand but the total outstanding value will still not exceed 200 mln us dlrs
share dealers said some of the weakness on the bourse recently probably has been due to the amount of money tied up in glaverbel applications
if the ec farm budget were protected by a subsidy freeze there would be little incentive for the community to work to correct the international trade situation he added
sterling inc strl 4th qtr jan 31 net
the daily average reserve holdings were above the level of around 51 billion marks dealers said is needed for the required daily average for the month
in remarks prepared for delivery to the senate agriculture committee brian crowley senior associate director of gao also said that a preliminary analysis of proposed changes in fmhas financial eligibility standards indicated as many as one half of fmha borrowers who received new loans from the agency in 1986 would be ineligible under the proposed system
ecuador quake to cut oil revenues 800 mln dlrs
the uruguay meeting is considered by most countries to have been particularly successful with northern hemisphere countries managing to have service industries such as banking and insurance included in the next full round
healthy trees will be sprayed and remain under observation
liberty financial says it agrees to be acquired by equimark for 48 dlrs per share
whats interesting is the values are there
the accord reached by opec ministers in vienna saturday set an output ceiling of 166 mln bpd for the groups 13 members from july to december raising iraqs share to 154 mln bpd and irans to 2369 mln
shr 199 dlrs vs 205 dlrs diluted shr 180 dlrs vs 175 dlrs net 500 mln vs 485 mln nine months shr 537 dlrs vs 569 dlrs diluted shr 487 dlrs vs 476 dlrs net 1346 mln vs 1296 mln
the issue price was set at 10175 pct
us farm loan secondary market gains support
swedish export credit issues new zealand dlr bond
us house panel votes to ease export controls
commerce ministry officials said the countries will try to adopt a common strategy to counter protectionist measures by developed countries and forge developing country cooperation commerce secretary abm ghulam mostafa said the officials would discuss issues relating to financial resources commodities international trade and least developed countries and formulate concrete measures towards concerted action recommendations of the dhaka meeting will be placed before the july united nations conference on trade and development meeting at geneva officials said
this represents over 25 pct of professional management and indirect employees it added
walker has 7600 customers in northeast georgia
the senate agriculture committee is expected to take up a bill tomorrow that would exempt from government conservation regulations those farmers who have rotated alfalfa and other multiyear grasses and legumes with row crops committee staff said
ecuador stricken by a severe earthquake is seeking through negotiations with private foreign banks to postpone all payments due to them for the rest of the year finance minister domingo cordovez said
jp stevens stn climbed 5 8 to 44 7 8 and fieldcrest cannon inc fld the result of a merger of fieldcrest and cannon rose 1 1 8 to 39 3 4
kenyas economy will continue to expand this year and the government will do more to encourage investment by foreign firms and the local private sector planning minister robert ouko said
however it excludes convertible subordinated debenture issues and tax exempt bonds as well as bonds with maturities under five years or with variable rate coupons
soybean cake and meal sales of 103700 tonnes were 2 3 4 times the previous weeks marketing year low but six pct less than the four week average
ec commission given plan to save steel industry
with the best of intentions africa cannot attain a three to four pct gdp growth rate if the current high level of debt persists mamman said
coast savings csa in talks on buying bank
economic policy decisions made last year in tokyo and at this years meetings of group of 7 finance ministers in paris and in washington cannot be ignored or forgotten he said
analysts noted japans ministry of international trade and industry miti has already ordered chipmakers to cut production in order to dry up the source of cheap chips sold in third countries at non regulated prices
oper shr 15 cts vs 107 dlrs oper net 372000 vs 2601000 year oper shr 80 cts vs 61 cts oper net 1952000 vs 1491000 note net excludes realized investment loss 13000 dlrs vs gain 986000 dlrs in quarter and gains 1047000 dlrs vs 1152000 dlrs in year
the us customs will allow such importation to be made under bond the brief said
the offer has been extended to april 15
total systems services tsys 1st qtr net
texas eastern transmission corp a unit of texas eastern corp said it plans to redeem on april 30 its outstanding 100 mln dlrs of 13 pct debentures due 2009 and 100 mln dlrs of 12 3 4 pct debentures of 2008
springs industries inc smi 3rd qtr oct three
it said as a result of the settlement ctss special board committee has stopped soliciting orders to purchase some or all of cts
affandi replied that rice is the main staple and provides an income for 17 pct of the workforce
others said there were technical reasons for the sharp dollar drop
the agriculture department is in the best position to determine whether consideration should be given at this time to extending to the soviets a subsidy under the export enhancement program although shultz will not oppose a wheat subsidy to the soviets there remain obstacles to another subsidy offer to moscow the state department official said
kraft inc said in its annual report it expects 1987 capital expenditures to be between 250 mln dlrs and 300 mln dlrs
this would mean an expensive exercise right on the edge but not impossible he added
prior nine mths net includes 512 mln dlr gain from cumulative effect of accounting change
uk march producer prices rise 03 pct
tax increase reduced 1986 yr per shr by 26 cts
stephen hanke chief economist at friedburg commodity management said opec production was lower because of the saudi cut to 31 mln bpd and this could spell trouble if it gives other members an incentive to exceed their quotas he added the saudis will be picking up the tab for other members who produce over their quota and the drain on the saudis will continue forcing them to cut output maybe as low as 25 mln bpd to support the 18 dlrs average price he added
the company said initial costs connected with the startupo of a new memphis tenn marketing center for seven oaks direct may hurt earnings slightly in the first half of the year ending in april 1988 but seven oaks direct should operate at no worse than breakeven for fiscal 1988 as a whole
turnover 214 billion stg vs 211 billion
he said the treasury expected a current account balance of payments deficit in 1987 of 25 billion stg after a 11 billion shortfall in 1986
but he told a press conference that due to the high marginal tax rate on north sea operations the main impact of the drop in profit was absorbed by a fall in taxation to 330 mln stg from 145 billion in 1985
platt does not foresee potential for tighter monetary policy on the basis of the latest retail sales report
shr 13 cts vs 10 cts net 1109000 vs 875000 revs 166 mln vs 132 mln nine mths shr 44 cts vs 33 cts net 3770000 vs 2851000 revs 469 mln vs 369 mln note share adjusted for three for two stock split in june 1986
nakasone says dollar fall only temporary
it said it would also continue gencorps policy of trying to sell its new york area television station wor to mca inc mca for 387 mln dlrs and its los angeles station khj to walt disney co dis for 217 mln dlrs
the jamaican information service said the rescheduling agreement reached with the paris club of western government creditors covers 1255 mln dlrs of debt and not 255 mln dlrs as it announced yesterday
merrill lynch in london said any further amplification on the sec charge against its executive nahum vaskevitch would have to come from the firmss new york office
montedison spa of italy said net consolidated profit for its agrimont group formed in june 1986 totalled 15 billion lire in 1986
funaro says brazils creditors must trust him
japans four largest securities houses are members of the london stock exchange
shr 10 cts vs seven cts net 3501000 vs 2420000 sales 3327 mln vs 2749 mln qtly div four cts vs four cts prior pay april six record march six
the head of the economics department in the brazilian foreign ministry sebastiao do rego barros told an agreement can be successful if it keeps a link with market reality
bank of japan governor satoshi sumita said the central bank will carefully consider its monetary policy in light of the recent sharp fall of the dollar
but banks believe the vehicle meets a need of investors and predicted a lively future
empire empato to buy sobeys sysato stock
goodyear tire and rubber co said the all american pipeline of its celeron corp subsidiary will start line fill activities on march 30 as it begins operating
we in the asa are dedicated free traders
the mexican secretariat of commerce has told the us that recent implementation of a 10 pct ad valorem tariff for fixed vegetable oils fluid or solid crude refined or purified was not targeted at sunflower oil the us agriculture department said
s and p affirmed the aa ratings on the senior debt of gm general motors acceptance corp gmac grantor trust and various overseas units
cold temperatures over the next month could cause damage under these conditions they said
the company said proceeds will be used for general corporate purposes including funding an increasing commitment to research and development on new drug formulations and delivery systems
the kiel institute a leading research body is still expecting growth of three pct but some other research institutes have revised forecasts down to below two pct
while some said the west german central bank would support the dollar once it fell below 180 marks others said the bundesbank would only intervene after a fall below 175 marks or if the decline accelerated
conable could do indonesia a great service if he is straightforward enough to point his finger at shortcomings that could be corrected it said in an editorial
mexican state oil firm petroleos mexicanos pemex signed for a 500 mln dlr27untied loan from the export import bank of japan to finance its pacific petroleum project pemex japan representative tito ayal said
giorgios boutique in beverly hills calif will be sold back to fred hayman one of the shareholders who will continue to operate it independently avon said
our investigator is there already
he did not elaborate
shl systemhouse inc said it filed a registration statement with the securities and exchange commission relating to common shares owned by kinburn technology corp shl said the filing was made to satisfy exchange rights under a proposed offering of us 100 mln dlrs principal amount of exchangeable secured debentures due 2007 by kinburn
following meetings with house agriculture committee chairman kika de la garza d tex and senate agriculture committee chairman patrick leahy d vt the groups issued a statement saying lawmakers should resist efforts to overhaul the 15 month old law which is operating in its first crop marketing year the farm groups included the american farm bureau federation american soybean association national cattlemens association national corn growers association national cotton council national pork producers council and the us rice producers legislative group
oper shr 63 cts vs 47 cts oper shr diluted 56 cts vs 38 cts oper net 3284955 vs 2176925 revs 316 mln vs 230 mln note current oper net excludes writedown of 344039 dlrs or seven cts a share on unidentified investment
tri star trsp buys cineplex theater
rexham said nortek has also agreed not to buy rexham shares or take other actions under a 10 year standstill agreement
external risks for the economy have increased but growth of two to 25 pct this year is still possible according to president of the west german federation of banks hanns christian schroeder hohenwarth
moodys investors service inc said it downgraded niagara mohawk power corps 22 billion dlrs of debt securities and preferred stock
the complaint asked the defendants be enjoined from proceeding with the reebok acquisition of avia
wiehn told a news conference deutsche babcock would double the absolute amount it distributes to shareholders
funaro said however he was told creditors understand brazils position and do not wish to turn the negotiation for the renewal of the credit lines more difficult
several firms had protested the proposed merger
as the storm moves north across the central plains winter storm watches were issued over south central south dakota late tonight and wednesday over west central minnesota
oper shr profit five cts vs loss 171 dlrs oper net profit 196000 vs loss 2388000 sales 405 mln vs 432 mln avg shrs 2212000 vs 1482000 year oper shr profit 71 cts vs loss 624 dlrs oper net profit 1799000 vs loss 8991000 sales 1545 mln vs 1450 mln note net excludes losses from discontinued operations of 712000 dlrs vs 2843000 dlrs in quarter and 1972000 dlrs vs 106 mln dlrs in year
bargaining in agricultural goods and services banking tourism insurance is included for the first time as well as manufactured goods
area planted is expected to increase by 10 pct in both 1986 87 and 1987 88
debt leverage has risen to 87 pct and the company has suspended dividend payments to conserve cash s and p noted
money market dealers had earlier expressed mixed views on a possible quarter point cut
but bp said the unit in which swedens ok petroleum ab has a 22 pct stake had performed well both technically and financially up to and including the first quarter of 1987
there is some threat
the companys full name is town and country jewelry manufacturing corp
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
the bank of england said it did not operate in the money market during the morning
wheat and corn acreage comprised slightly over 40 pct of the total 10572402 acres accepted into the ten year program
ben and jerrys homemade inc bjico eight mths
its initial capital of 17 mln dlrs will come from caricom member governments private sector donors and the caribbean development bank
the increase will be to cover potential write downs of certain inventories or products used in compact disc stereo systems
canada plans 4 part 12 billion dlr bond issue tuesday official
global raised one pct fuel oil by 35 cts to 2025 dlrs a barrel
the market is getting mixed signals and it doesnt know which way to go one analyst said
esquire radio and electronics inc ee 4th qtr
shr 516 cts vs 347 final div 135 vs 125 making 190 vs 180 pre tax 133 mln rand vs 137 mln net 260 mln vs 172 mln tax 76 mln vs 42 mln att to outside shareholders 96 mln vs 53 mln pref div 1 mln vs same turnover 314 billion vs 256 billion div pay may 8 register march 27
net also includes gains from sale of real estate of 3000 vs 83000 for qtr and 563000 vs 1317000 for year
output fell sharply from a year ago as most aluminium firms stopped smelting in the past year due to cheap imports industry sources said
federated department stores inc fds 4th qtr
he said european and japanese banks were showing a more flexible attitude towards brazils problems than us banks and it was difficult to discuss capitalisation with the latter
the senate agriculture committee rejected the proposal by a 10 8 vote virtually snuffing out us soybean producers hopes the plan would be adopted this year
bread wheat nil nil nil maize 113500 21800 51300 sorghum 13600 nil 26500 soybean 30000 36000 72000 sunflowerseed nil nil 19100 cumulative figures export registrations for the 1986 87 crop to april 8 1987 with comparative figures for the 1985 86 crop up to april 9 1986 in brackets were in thousands of tonnes
china unit to issue bonds in hong kong
a reasonable value for the new zealand dollar would be between 10 and 15 pct less and nearer 15 than 10
in addition chapman and troon will establish a 10 mln dlrs acquisition joint ventures it said
the notes are redeemable at par at arvins option after march 1 1994
that was up from 2255000 the previous week
the us has taken a hardline stance on the beef and citrus quotas which tokyo says must remain in place to protect japanese farmers
earlier today gencorp said it will not ask shareholders to approve an increase in the number of its outstanding shares the election of a staggered board of directors and the elimination of cumulative voting
in the most detailed report to date on the heavy snows in january and floods in february izvestia said 8200 people had been evacuated from mountain areas 4500 houses had been damaged and hundreds of kilometres of roads and power lines had been destroyed
industrial equity tells sec it will send calmat proposal for business combination
bank of spain officials said this was an understandable response given that the market is short of funds but banking sources noted that a continued rise in interest rates would neutralize the central banks attempts to curtail short term speculation with foreign funds by making the spanish money markets more attractive
oppenheimer the brokerage and investment subsidiary of oppenheimer group inc told the securities and exchange commission it sold its entire 60 pct stake of cyclops corp
the reserve requirement which was already in place on normal peseta deposits was intended to curb short term foreign speculative capital which is entering the country and threatening the governments money supply growth target
the condition that was modified which required cyacq to be satisfied that break up fees or other obligations to dixons were rescinded or ineffective now says cyclops shall not have paid any such fees or expenses to dixons prior to the consummation of cyacqs offer
usdas amstutz sympathetic to wood credits
maize exports for 1986 87 to january 31 1987 totalled 315000 tonnes with about a further 40000 tonnes expected to be exported in february and march against 285000 tonnes in 1985 86
scott and stringfellow financial inc said it declared its first quarterly dividend of three cents per share payable april 15 to shareholders of record april one
the report dated march 25 said imports in the 1987 88 season are projected at 80 mln tonnes 10 mln tonnes above the the current seasons estimate
fiat finance and trade ltd is issuing a 100 mln dlr eurobond due april 2 1991 at 7 1 4 pct and 101 1 8 pct lead manager morgan stanley international said
bernstein co inc said
the seasonally adjusted february average of m 2 plus cds supply rose 08 pct from january it said
topps co inc files for initial offering
analysts said they base their thinking on royal dutch shell groups rd sc bid to buy the outstanding stake of shell oil co in 1984 and 1985
london traders said the g 7 communique failed to curb underlying bearishness toward the dollar but this negative sentiment was not yet strong enough to tempt interbank operators to test the downside
domestic imports last week were 24774
inspiration said a production decision is expected to be made in 1988
federated department stores fds march sales up
no reason was given for the delay in releasing the monthly report
colombias cost of living index rose 271 pct in march after a 203 pct increase in february and a 221 pct rise in march 1986 the government statistics institute said
estimated oil and gas drilling completions in the united states dropped by almost 41 per cent in 1986 from 1985 the american petroleum institute said
the facility includes options for sterling acceptances multi currency advances sterling and dollar notes via tender panels and there is also a sterling swingline
the company said it continues to be in default of certain financial and non financial covenants set forth in its major loan documents
the company said the plant is expected to starft operating by the fourth quarter of 1988
sources close to italian state owned investment bank imi said earlier this month that a convertible issue was being considered but gave no details of the amount involved
texas instruments inc one of the few us semiconductor producers expected to benefit directly from the reagan administrations actions to curtail japanese dumping of chips received a reaffirmed buy recommendation from smith barney today
kpa will hold 70 pct of the shares in the new company
production at shells major refinery at strathcona alberta will be closed for about one month wish said
memory protection mpdi sees bogen closing
the bulk of tax last year was corporation tax with petroleum revenue tax prt representing only 16 mln stg he said
todd shipyards tod omits commmon dividend
several experts say only one quarter to one third of the total in fact sells at official prices with some of the rest included in processing or barter deals or sold in the form of refined products
the composite index is a seasonally adjusted figure based on five components of the napm business survey new orders production vendor deliveries inventories and employment
affiliated publications afp to buy billboard
wickes wix plans reverse split calls debt
volcker says fed policy not linked to rate rise
consumers and most producers see no point in reopening the quota dialogue while brazils position remains unchanged they said
that is quicker than some recent fixed rate new zealand dollar note issues he said
west germany recorded a net outflow of 753 billion marks on the february capital account combining long and short term capital flows compared with a net inflow of 1191 billion marks in january the bundesbank said
the implied senior debt rating is b
the policy shift which means abandoning seouls goal of rapidly reducing its foreign debt was worked out at a series of ministerial meetings
its a yen problem more than anything else some dealers said a rising wave of trade protectionist sentiment in the us limits the extent to which the american authorities can endorse a stronger dollar against the yen
carson pirie scott and co said it plans to start mailing proxy materials to stockholders in connection to a november 16 special meeting at which holders will be asked to consider a previously announced agreement with greyhound corp g under the agreement greyhound will acquire in a merger three of the companys foodservice operations dobbs international services dobbs houses and carson international
the subcommittee also projects annual economic growth for japan of nearly four pct over that period and a very gradual appreciation of the yen to about 130 to the dollar by around 1993 from 150 now
year to september 30 1986 domestic group net profit 699 mln marks vs 614 mln
the government ordered thousands of troops into the refineries on tuesday to forestall any occupation but the troops were removed yesterday
the round which covers 13 areas of trade in agriculture manufactured goods and services will take four years to negotiate
the planned agency could take over the states equity in current developments
the central banks surprise signal followed its strenuous efforts last week to prevent market forces from bringing down base rates before the uk budget on march 17
princeville pvdc to sell its air operation
the two week strike comes as brazil faces a debt crisis and is delaying exports badly needed to earn foreign exchange
the buyback and the restructuring were triggered in november after companies controlled by ronald perelman chairman of revlon group inc rev acquired about 76 pct of cpcs then outstanding stock
simon did not mention an oil import fee which many in the industry have called for as a way of building up the nations domestic operations before imports reach such a level that national security might be compromised
at the end of 1985 vw had parent company reserves of slightly less than three billion marks
the paris club is demanding repayment but poland needs new credits and has made certain supplementary proposals but it is up to the club to show an initiative one of the diplomatic sources said without elaborating
cb and t cbtb to make acquisition
over the past five years ziering said the company has had average compound net income growth of 32 pct annually with a 27 pct per year growth in earnings per share
in last years first quarter the company lost 600 mln dlrs or 55 cts per share on 1084 mln shares outstanding after a 1108 mln dlr writedown of oil reserves of its celeron corp unit
detroit edison dte registers bonds
the us has been promised a near monopoly of maize exports to spain from third countries guaranteed under an agreement with the european community an ec official said
tokyo has denied the charges
nobel financiere robur issue french franc bonds
some us lawmakers have proposed canadas share of the american market be limited to 24 pct
dealers said spreads would widen and the dollar would move more sharply if the bundesbank did intervene
finance minister boris gostev told the supreme soviet that defense spending in 1988 would total 32 billion dlrs the same figure as was announced last year
shr 31 cts vs 26 cts net 3516000 vs 2972000 revs 400 mln vs 363 mln avg shrs 114 mln vs 112 mln nine mths shr 89 cts vs 73 cts net 100 mln vs 8146000 revs 1168 mln vs 1050 mln avg shrs 113 mln vs 111 mln
sumita says bank will intervene if necessary
traders today described the buying in ual as widespread indicative to them that big institutions believe the stock is in play
under a separate agreement japanese and foreign brokers will allow the latter including the six newcomers to underwrite five pct of the enlarged share up from 119 pct underwriting sources said
specific details of the pst production project including sites for proposed facilities and engineering plans were not disclosed
while financial results are far from the previous years record levels it is clear that norcen has withstood declining prices and remains financially and operationally strong norcen said
hughes tool ht up on merger speculation
the definitive agreement provides for a closing on april 1 1987
georgia pacific gp sees gain from sale
these moves are in line with its long term strategy to put more emphasis on overseas investment management as opportunities at home are declining while the companys assets are growing
the official soviet news agency tass denounced a us attack on an iranian oil drilling platform in the gulf on monday as military adventurism and said it would bring no dividends to the reagan administration
the world bank is issuing a multicurrency financing package totalling 232 mln us dlrs coordinator dg bank deutsche genossenschaftsbank said
malaysian treasury bill rises at latest tender
ryder system inc rdr 3rd qtr net
the house was to vote today on a bill supported by the democratic and republican congressional leadership and the administration which demanded a report within seven days on plans to meet the security needs of us forces in the gulf
latta of data resources said strong sales of new condominiums in the northeast and on the west coast were reflected in sales of existing but not new homes
cts automatically offers a portfolio diversification between fixed rate and variable rate investments
they declined to disclose details because two or three representatives on the panel have still to obtain the approval of their senior management for the new terms
usda personnel in the corn belt states of iowa illinois and indiana have been reporting heavy signup activity an ascs official told 
feds seger says us thrift industry needs stable interest rates
jewelmasters jem sees net below estimates
mielke expects the ratio to fall to 59 weeks by the start of next october and to the unusually low level of 54 weeks by the end of next season
federated said the dividend is payable on a pre split basis on april 24 to shareholders of record april 10
macandrews forbes begins revlon rev offer
the move suggested it had reached agreement with depositors using the bureau the postal savings system of the posts and telecommunications ministry and the japan welfare annuity of the ministry of health and welfare the sources said
the original concession appears to have a substantial amount of gold bearing material containing about 2 grams or 6 100 ounces of gold per tonne
onic also will hold a tender june 9 for 65000 tonnes soft wheat under the european community food aid programme for shipment in bulk during august the official said
the sources warned that maybe the price of a barrel of oil will fall below 18 perhaps 1780 dlrs this week or next if there is no control on supplies
yesterday one or two large west german banks effectively drained the domestic money market of liquidity in order to achieve higher rates from their overnight deposits dealers said
in addition commodity prices are at the beginning of the production chain and serve as an imput into virtually all production processes
based on its financial expectations fifth third said the dilution in per share earnings for the merger will be negligible
phillips raises crude oil posted prices 50 cts bbl effective yesterday wti now 19 dlrs
enfield corp ltd said it planned to issue 60 mln dlrs principal amount of notes and 16 mln class e preferred shares at 25 dlrs a share
banking analysts said this put group total operating profits at some 6 1 2 to seven billion marks and parent bank operating profits at over five billion marks
police said the owners of the firm mario muggia and his brother luigi muggia have left venezuela
banking sources said the new government securities market scheduled to have been launched on march 2 had been delayed pending legislative approval of these bills
there have been acquisitions in this area
vms strategic vlans sets initial dividend
sudan has set aside 7816 mln dlrs to service foreign debts in 1987 88 according to budget plans presented to parliament
it said unadjusted m 3 increased to an estimated 3007 billion nz dlrs from a revised 2830 billion in november and 2553 billion in december 1985
stokely usa inc stky regular dividend set
late last month social affairs minister louw de graaf said unless the dispute was settled by yesterday he would withdraw the sectors 10 mln guilder annual labour subsidy
american vanguard corp amgd year net
a japanese borrower with a five year equity warrant eurodollar bond issued at 2 1 2 pct can now swap into domestic yen rates of one pct
seton co said its board has received a proposal from chairman and chief executive officer philip d
japanese seen lightening us bond holdings
patten pat calls convertible debentures
southwest forest industries said it and stone container corp have complied with all federal waiting period requirements for stones proposed 3225 dlr per share cash acquisition of southwest
they amounted to 1808 mln dlrs fob compared with 1475 mln dlrs for coffee a drop of 42 pct from last year
ultramar shares firmed on the announcement to 187p from 181p at last nights close
cooperative energy tests oil at two wells
the price hike follows a round of crude oil price increases started late june 17 by sun co
london intl selling hot water bottle unit
us may end additional sanctions against japan
the future belongs to the brave
multilateral agencies by their very nature are lenders of last resort
industry officials have disputed this saying the diseases that develop a resistance in cattle probably do not affect humans
a hutton official declined comment
throughout the talks producers had adamantly resisted a consumer proposal to lower the floor price of 150 cents if the buffer stock currently 360000 tonnes rose to 450000 tonnes
the fall was largely due to a 60 mln franc loss on swissairs core flying business last year against a profit of 27 mln francs the previous year he said
parent company 1986 net profit 20255 mln francs vs 17131 mln dividend 1302 francs vs same including 434 francs tax credit
brazilian finance minister dilson funaro will extend his international tour flying to japan for talks with government officials and representatives of banks to explain brazils decision to halt payment of part of its 109 billion dlrs foreign debt finance ministry sources said
iwc says effect of lower support prices limited
new dutch advances total 41 billion guilders
proceeds will be added to general funds and used to support aetnas basic insurance and financial services businesses
the figures are expected to show a deficit of 13 billion dlrs from a provisional 148 billion in january
neworld bank for savings nwor 1st qtr net
a system of individual export quotas is being reestablished in brazil a previous system was abandoned in 1985 to ensure shipments are kept in line with the countrys ico quota
thai rice exports rise in week to october 13
we are encouraging creditor banks to grant new loans to make argentine growth possible said knox who arrived in argentina last thursday
on a non seasonally adjusted value basis retail sales in february were a provisional 90 pct higher than a year earlier
the new york mercantile exchange said it will introduce exchanges for physicals efps to its energy futures markets april one
shr one cent vs nine cts net 51057 vs 554878 sales 245 mln vs 213 mln first half shr 15 cts vs five cts net 1026479 vs 313676 sales 484 mln vs 374 mln note net includes gains of 28000 dlrs or one cent a share vs 61000 dlrs or seven cts a share in quarter and 453000 dlrs or seven cts a share vs 61000 dlrs or one cent a share in half from tax loss carryforward
american electromedics corp aeco 2nd qtr loss
the company said its management and board of directors will consider the proposal but have not set a date to meet
argentina is aiming at four pct growth in 1987 and has said this target is not negotiable
presidential spokesman marlin fitzwater said the new figures signalling more economic growth in coming months showed that the index was back on track after its downturn at the first of the year
the terminal will be completed in mid 1989
the farny r
opponents to a 0 92 feedgrains program argue it is premature to make major changes in the farm bill and that the house agriculture committee needs to study more closely the impacts of such a program
federal industries sets commercial paper issue
gatt rules cover some 80 pct of world commerce
under an between sumitomo bakelite and sheldahl as long as its stake is more than five pct sumitomo said it has preemptive rights for 60 days following notice of issuance of new sheldahl common stock
it said through its guarantor program first union will be allowed to convert its investment quality mortgages into mortgage backed securities accepted in capital markets
the bond will improve the groups debt structure significantly keppel chairman sim kee boon said
british petroleum co plc said it has started its previously announced 74 billion dlr offer to purchase the 45 pct interest in standard oil co that it does not already own for 70 dlrs per share
she told parliament that the bid by the uk s cable and wireless plc cawll to enter the japanese telecommunications market was being regarded by her government as a test case
conversion of bank debt into equity investments in mexico is one option banks can take advantage of to reduce their exposure
the federal reserve entered the us government securities market to arrange 15 billion dlrs of customer repurchase agreements a fed spokesman said
atlas consolidated mining and development acmb 
azpurua said that in 1990 payments of restructured debt are lowered to 105 billion dlrs from 1339 mln to 125 billion from 1994 mln in 1991 and to 145 billion from 2403 billion in 1992
bio vascular inc 1st qtr jan 31 loss
the measure comes one week after the central bank raised reserve requirements on domestic deposits by one percentage point to 19 pct also with effect on friday
final terms will be set on or before april 15
home shopping network inc announced it agreed with underwriter drexel burnham lambert inc to amend its recent filing for an offering of 400 mln dlrs of 15 year convertible subordinated debentures in order to accommodate demand from europe
dome petroleum takes 1986 writedowns totalling 208 billion dlrs
usair rejected the offer and said it asked the department of transportation to dismiss the application
trintoc union carbide to build methanol plant
he has the tacit backing of the government in his efforts to merge two telecommunications companies into one competitor to kokusai denwa denshin kdd which has a monopoly on international telephone services here industry analysts said
some political analysts said baudouins comments possibly reflect widening differences within the rpr udf coalition on social issues ahead of next years presidential elections
medco containment services inc said its board declared an initial annual dividend of 10 cts per share its first payout payable march 19 to holders of record march 12
james cotting now vice chairman and chief financial officer was named to succeed lennox as chairman and chief executive officer of navistar international corp
the government has already made the political decision to entertain this time problem by inviting the existing producers to continue their activities in indonesia albeit on a selective basis indonesia one of the 13 members of opec must find new oil reserves if it is to remain an exporter in the next decade oil industry sources say
he also said the yens large and rapid rise is depressing the outlook for the japanese economy noting that in addition to hurting exporters it is also damaging domestic market manufacturers through cheap imports
it said that banks net free reserves in the latest two weeks averaged 660 mln dlrs versus 675 mln dlrs previously
psis report was qualified in 1984 and 1985 when its auditors arthur andersen and co questioned the utilitys ability to recover costs of its marble hill nuclear power plant and to extend the maturity of its credit agreement
arkadi kuhlmann president and chief executive officer of deak international said the purchase will expand deaks operations into the precious metals and wholesale non ferrous metals trading arenas
the chlorine content enhances sweetness without providing calories
the caesars world official suggested various forms of payment for sosnoffs stake including other securities of the company and cash he said
interim income dividend 20 cts
some 7000 black miners went on strike at south african gold and coal mines the national union of mineworkers num said
the white paper on agriculture for the year ended march 31 said active participation in writing world farm trade rules at the next round of general agreement on tariffs and trade gatt talks will help prepare japan to improve access
the louvre agreement has been honored by the market he said
he said the tendency in such programs was to exaggerate the costs by presenting ten year perspectives in a one year context
time also announced its subsidiary time life overseas finance corp nv intends to call for redemption all of its 100 mln dlr outstanding 10 3 4 pct guaranteed notes due january 26 1990
he said the current oil price of some 18 dlrs a barrel might suggest a level of 74 on the bank of englands sterling index when compared with the indexs level before oil prices dropped from around the 30 dlr level
united medical um to amend covenants
asked if the us had contacted japan after the stock market plunge in new york miyazawa said there was not any contact
the 54 pct cumulative redeemable convertible series d preferred shares will be flow through shares entitling holders to tax deductions not claimed by the company
new world has 30800 shares of the total 44 mln shares
bp said further details would be released on july 21
the season produced another good crop with only 02 pct of receivals being downgraded to feed quality he said
the balance of rephs common stock is owned by members of republic management mcdonnell douglas corp md donaldson lufkin and jenrette and pacific asset holdings lp republic currently owns 44 hospitals and manages 46 other facilities in 25 states
iraq said its warplanes launched two bombing raids on irans offshore nowruz oilfield in the northern gulf today
the loan will be used for lending mainly by commercial banks and the national rural credit bank mexicos largest agricultural credit lender the bank said
the kanata ontario based microchip manufacturer was the first company to qualify under ottawas 20 mln dlr fund called the technology opportunitie in europe program
video said peters will continue as chairman and president of the company
the contracts were set up to attract hedging from the rapidly growing underlying cash market in us treasury bonds in toyko but interest has waned as that market has grown more stable traders said
frolov said the soviet union exported 500 mln dlrs worth of goods to the united states in 1986 and imported 15 billion dlrs worth
the dividend of 399 shares per danzar share held will be paid to shareholders of record april 15 the company said
the world bank said it has extended pakistan 220 mln dlrs in three loans to support projects in education energy conservation and modernization and small scale industry development
faster results could be achieved by a policy of reducing both price and areas as employed in the united states the iwc says in a survey of support prices in the five main wheat exporters argentina australia canada the ec and the us in some countries for example australia and argentina which are highly dependent on wheat shipments for export income there may be problems in reducing production
british petroleum stock rose 2 1 4 to 59 5 8
citicorp can afford it he said
total investment is estimated at 10 mln dlrs of which the chileans will contribute two mln
crowley milner and co com 4th qtr jan 31 net
the terminal will be able to handle 21 mln tonnes of crude palm oil from new plantations in northern sumatra and western kalimantan borneo he said
selas said it has not decided whether it will appeal the ruling
azpurua and other senior economic officals returned from a trip to tokyo last week in which they hoped to acquire new credits for industrial expansions but no agreements were reached
moodys investors service inc said it affirmed the long term debt ratings but cut the commercial paper to prime 2 from prime 1 of avco financial services inc a unit of avco corp
dataproducts dpc gets siemens contract
saudi riyal deposit rates remain firm
pemex official says opec output critical to price
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
keefe bruyette goldman sachs and merrill lynch co managed the deal
earlier toshiba information systems uk ltd said it wanted to enter the british business facsimile and key telephone market
ryans family steak houses inc said its board declared a three for one stock split payable may 20 to holders of record may 6
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
balladurs comments came after us treasury secretary james baker said on sunday that the us would have to re examine the louvre accords in the light of the rise in west german short term interest rates
the retail car market is much more freeform now than it was in 1956 the year things began to change says detroit analyst arvid jauppi of arvid jauppi and associates
shr 24 cts vs four cts net 663000 vs 109000 sales 205 mln vs 139 mln six mths shr 48 cts vs nine cts net 1311000 vs 255000 sales 432 mln vs 300 mln avg shrs 2719205 vs 2804048
the bank of thailand said it has floated 500 mln baht of new five year loan bonds for public sale
the growing debt burden of latin american and african nations will also provide impetus for the gatt round to succeed he said
it will market its products as apd cryogenics inc
exxon also said that it acquired 112 mln acres for expoloration spread over 10 countries including the us europe and the far east
trade between argentina and brazil jumped 90 pct in 1986 versus 1985 foreign minister dante caputo said
the banks following the trend are the overseas union bank ltd united overseas bank ltd oversea chinese banking corporation and the development bank of singapore ltd the shift towards securitisation has been helped by volatile financial markets which have developed hedging facilities such as floating rate notes and bonds for risk management said overseas union general manager loh hoon sun
grade mar 27 mar 20 feb 27 es sider 1940 1918 1644 arab light 1861 1844 1552 iran lt 1925 1908 1616 kuwait 1851 1833 1542 urals cif 1916 1894 1607 netbacks in northern europes refinery region were lower last friday from the previous week with brent falling 16 pct to 1889 dlrs a barrel
the increase brings citgos posted price for west texas intermediate to 1700 dlrs a bbl
the rating agency cited consecos proposal to acquire western national life insurance co from beneficial corp bnl moodys said its review would focus on the financing of the deal which will increase consecos size from 650 mln dlrs in assets to about 27 billion dlrs
the sources said south koreas yards are now some 35 pct more competitive than japans due to such factors
he said zimbabwean veterinary officials had notified him that they suspected foot and mouth disease had broken out at insiza 100 km northeast of bulawayo capital of the mainly cattle ranching southwestern province of matabeleland
chrysler says amc holders to get chrysler stock worth four dlrs a share under buyout plan
those japanese companies have the capital and our companies have the capital needs and the growth opportunities to use the money
i dont know what theyll tell us that we dont already knwo but well hear what they have to say lyngs aide said
there were no reports of any deaths
now that tokyo has unveiled its fiscal stimulus package analysts expected bonn and the dollar mark rate to bear the brunt of us calls for further action
platinum demand estimated 17 pct higher by 1991
the federation the nations largest conservation group said further study was needed to assess any possible damage that development might have on the wildlife in the area the coastal plain of the arctic national wildlife refuge
asked by securities analysts if allied lyons plans a share issue in canada after acquiring a 51 pct interest in hiram walker holden brown responded plan might be too strong a word
showboat sbo unit sells mortgage backed bonds
india is searching for non communist countertrade partners to help it cut its trade deficit and conserve foreign exchange
he said the increase includes all of its equadorian loans which he expects will be ultimately repaid after the company recovers from an earthquake earlier this year
the first national bank of boston the main banking unit of bank of boston said it is raising its prime lending rate to 775 pct from 750 pct effective immediately
fine art acquisitions ltd faaa 4th qtr net
catena reported profits after financial income and costs up to only 231 mln crowns from 207 mln in 1985 despite an increase in sales to 854 billion crowns from 559 billion in 1985
the bank is committed to defending the crown at certain levels in a basket of 14 trade weighted currencies
but opposition leader constantine mitsotakis told reporters he thought the suspension would be temporary until the crisis is resolved
van der vorm said that if strikes continued on todays scale for some time vessels coming to unload grain in rotterdam would face delays but this was not happening yet
the lack of statutory marketing for oilseeds pulses and oats is a cause for concern if those crops are to comprise a high proportion of growers income awf said
ropak ropk has 34 pct of buckhorn bkn 
five other ships loaded with raw sugar are awaiting at silvertown to be discharged tate and lyle added
moodys said that continued leveraged buyouts and restructuring among small and medium sized companies will account for up to one quarter of coporate debt downgrades
paper says us may seek to curb foreign takeovers
monsanto to buy rhone poulenc polyphenyl business
shr loss 11 cts vs profit five cts net loss 279726 vs profit 76591 revs 1300000 vs 2200000
that compared with a revised usage of 10750 mln lbs in january and 10842 mln lbs in february 1986
the sources said that with frances economic targets for 1987 roughly in line with its main trading partners the government had no intention of pushing the economy to grow at an artificial pace out of step with neighbouring economies
as a condition of its offer it said dixons would have to increase the cash price it was to pay for each cyclops share to 9325 dlrs in cash
the fed may add the reserves directly instead via system repurchases
area for undisclosed terms
asked by reporters if he would close the us bases in greece in the event of war papandreou replied obviously and perhaps even before the war
integrated genetics inc ingn offering of two mln shares of convertible exchangeable preferred stock through alex
ltx corp ltxx 2nd qtr jan 31 loss
chase manhattan bank na is considering expanding its operations in italy particularly in the consumer banking sector a chase manhattan official said
the increase should result from lower disappearance as production is expected to fall to 1840 mln tonnes from 1857 mln last year he said
nonetheless the pricing procedure did not prevent shultz from saying the soviets were chortling because washington was offering soviet housewives cheaper grain than that available to us housewives
theyll take the hit this year but at least well be looking at an honest earnings picture barnes also said
currency exchange loss pushes malaysias debt up
reagan said his administration has already proposed deregulating natural gas and eliminating the windfall profits tax on crude oil production
producers will be informed by the local offices when applications are being accepted it said
net would have risen 101 pct but for the increase in company tax to 49 pct from 46 and the imposition of the tax on fringe benefits paid by employers and not the recipients the company said in a statement
fed funds were trading at 6 3 4 pct at the time of the direct injection of temporary reserves dealers said
rep
city investing trust cnvlz sets cash payout
guinness starts court action against saunders
they also reported vague talk algeria may be seeking 50000 tonnes of raws tomorrow but details are unclear
in a separate action the sec filed a friend of the court brief in a private civil case involving a complaint against merrill lynch over excessive mark ups on zero coupon bonds
carter hawley hale stores inc chh 4th qtr loss
the company said both transactions are subject to approval by shareholders at a meeting to be held in april or may it said
us personal income rose 09 pct in february spending up 17 pct
b and c reorganises commercial operations
the dividend comes after a two for one stock split effective april 10 which was approved by shareholders today
lindner last week told the securities and exchange commission he may be interested in making a bid for taft
turkeys central bank set a lira dollar rate for april 6 of 78195 78586 to the dollar up from 78250 78641
it said output of gas and electricity was very high but activity slowed on construction sites in quarries and in certain base industries
brazils recent announcement of a suspension in interest payments on 68 billion dlrs of foreign debt gave the banking system the jitters and confirmed views among many international economists and commodities analysts that brazil will continue to flex its trading muscles in 1987
baldrige says changes needed in exchange rates of currencies pegged to dollar
hes a great man the official said adding that more and more people expect his reappointment
commercial metals co cmc 2nd qtr feb 28 net
the company did not disclose earnings for the 1986 period before august 15 or prior year results
but it is the underlying peaks and troughs of the major currency movements which lay bare the real picture in which the plaza pact appears as an event of prime importance but not necessarily central significance the officials said
de clercq is on his way to china after attending a two day conference for 22 gatt trade ministers held in new zealand
its major project will be a two year upgrading project on its mckee reinery in the panhandle at 90000 bpd rated capacity
ho said the cuts may come into effect by the end of next month
goldman sells most 1st pennsylvania fpa stock
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 dollar has eased this week but remains stable at around 15150 yen
in its report on world production and trade developments usda said that in 1987 beef production is expected to reach 23 mln tonnes
theres no doubt that the cairns group is being seen as a third force to be reckoned with both inside the general agreement on tariffs and trade and in other international trade negotiations he said
the financial sources said interest payments to the firm would not be taxed because of its location
shr profit 17 cts vs profit 14 cts net profit 13 mln vs profit 901000 revs 369 mln vs 362 mln six months shr profit 18 cts vs loss 11 cts net profit 14 mln vs loss 716000 revs 636 mln vs 577 mln note1986 six months includes increase in provision for doubtful accounts to 15 mln dlrs
february housing starts were up 168 pct from 93554 in january when they fell 274 pct from a month earlier but rose 103 pct from a year earlier
leon greenblatt a chicago investor told the securities and exchange commission he has acquired 89450 shares of technology development corp or 53 pct of the total outstanding common stock
the uk government forecasts that oil revenues will fall to four billion stg in the fiscal year 1987 88 from 475 billion in 1986 87 and 115 billion in 1985 86
hechinger hecha debt upgraded by moodys
the balance comprised 25000 tonnes of grains plus oilseeds and 45000 tonnes of derivatives
the benchmark canada 9 1 2 pct of 2001 ended at 106 1 4 3 8 and the 8 1 2 pct of 2011 at 97 1 4 1 2
the bank of italy took up 500 billion lire of the offer leaving 1073 billion lire unassigned
this is not a topic which can be solved by creditor banks alone he said
the stores are profitable
mauritius exported 47144 tonnes of sugar tel quel in february down from 57911 tonnes tel quel shipped in january and 89351 in february 1986 the mauritius chamber of agricultures sugar news bulletin said
the stocks of brokerage firms also climbed in response to the relatively high value nippon put on its stake in the us firm
production at trail and kimberley has been shut down since the strike started may 9
wilson gomes de moura president of the national confederation which groups the bank employees 152 unions representing 700000 workers told the indefinite stoppage would affect all banks
ors seeks canadian funds for heavy oil test
gros said brazil was likely to meet again with the 14 bank advisory committee once brazil had information to present on an economic plan
paralax said holders of some american video convertible debentures have elected to exchange them for paralax restricted common with a market value of about 380000 dlrs with that value to be determined in about 45 days
gantos inc gtos 4th qtr jan 31 net
cross told the sec he bought the new shares at between 775 and 80 dlrs
amro bank plans 300 mln guilder 675 pct bonds
ford motor co of canada ltd fc cuts annual div
centerior energy corps cleveland electric illuminating co subsidiary sdaid it will redeem on april three all 75 mln dlrs of its 16 5 8 pct first mortgage bonds due 2012 at 1120 dlrs per 1000 dlrs principal amount plus accrued interest of 1478 dlrs
the redemption resulted in the issuance of 2685142 shares of the companys common stock western digital said
other primes range from 1825 to 185 pct including those of the other three majors
general housewares corp ghw 1st qtr net
exports projected at 1375 vs 1250 last month
hog and cattle slaughter guesstimates
the department said thailand exported 7715 tonnes of tin during january may compared with 8462 tonnes a year ago
mercury savings and loan msl 3rd qtr loss
astec industries inc aste 4th qtr dec 31
the telexes have fueled rising world prices in the last week and reflect a poor cuban crop worry over brazils export availability and increasing soviet demand analysts said
he said industry estimates put the total reserves at the field at over one billion barrels but given the low gravity of oil the recovery rate would be expected to be around 20 25 pct
cut were the parents senior and guaranteed debt to aa 3 from aa 2 and subordinated debt to a 1 from aa 3 and the lead banks long term debt and deposits to aa 1 from aaa
kiena gold mines ltd 4th qtr net
dutch cocoa bean imports rise in january
lawson told journalists he had been surprised by how much the psbr had undershot his original assumption of 71 billion stg for 1986 87 by some three billion stg
on tuesday hundreds of thousands of farmers held rallies throughout the country to protest against high interest rates
perini investment properties pnv raises payout
a spokesman for the finance ministry said no exact date had yet been set for the privatisation which the government has tabled for the second half of march
a poll of 10 economists shows most expect interest rates to edge lower with the fed likely to drop its basic lending rate from 5 1 2 pct late next quarter to help the economy
the department said exceptionally cold weather in january reduced exports that month and that there had been an element of catching up in the february figures
the ministry accepted 50 pct of bids at the issue price
if the bank invokes such swaps both parties would announce the decision jointly said the first official
year to date figures will not become available until march 26 when eias petroleum supply monthly data for january 1987 becomes available the agency said
we are certainly within reach of our 15 mln tonne export target for the year he said in a statement
coupon and conversion price for both par priced bonds will be set at a board meeting to be held later this month and payment is due on may 14 mitsubishi said in a statement
in january the cost of living increased by 64 pct from december and stood 918 pct higher than in january 1986
closing of the transaction is anticipated in august the companies said
some traders said recent chinese purchases could total as much as 300000 tonnes but others while agreeing a heavy volume had been taken said an amount less than that figure was involved
morrison inc said its board adopted a shareholder rights plan designed to fend off unwanted takeovers
the facility will incorporate a 100 mln stg revolving standby credit and a 50 mln stg swingline credit both of which will be available for seven years
cbt discusses major changes for renovation
it said it may by more shares or sell some or all of its current stake
the us and the european community could enter into a new trade dispute unless urgent action is taken to explain ec farm policy to the us congress french official sources said
modulaire modx buys boise homes property
that last minute change of heart adds a measure of uncertainty even to the predictions of those most convinced that the administration will not now pass up the opportunity to sell four mln tonnes of wheat to the soviet union
japan lines cumulative debt was 6898 billion yen at the end of september which exceeded shareholders equities and reserves totalling 6340 billion
federal reserve board governor robert heller said the banking system could be strengthened by permitting formation of financial services holding companies involved in areas like banking insurance real estate and securities
a tax on gasoline he said would fail the first criteria by not increasing domestic production
holder communications hold to buy five firms
the justice department in january said it would block the hughes and baker merger on anti trust grounds unless both companies agreed to sign a consent decree that would provide for the sale of the assets after the merger took place
the relative shortage of farmland in japan is mainly responsible for higher domestic prices it said
us consumer credit rose 536 mln dlrs in jan
the statement said the agreement in principle gave each side 30 days to put together a definitive accord
there are no firm figures on exactly how much us treasury debt is traded here and estimates vary widely
carson said it was extremely optimistic about improved profit performance in 1987 it said in the first half of 1987 it hopes to reduce seasonal type losses sustained in the 1986 first and second quarters
a jefferies spokesman said the sec had asked for information a few months ago as part of an informal probe
usda last night notified the grain industry that effective immediately all gulf differentials used to price interior corn would be widened on a sliding scale basis of four to eight cts depending on what the differential is
under the offer current dome common and preferred shareholders would own 20 pct of the new subsidiary which would own and operate all domes former assets
in contrast to dec ibm faultered with an incompatible mid range product line
1985 net includes 108 mln dlr gain on sale of canadian natural gas property
the company reported fourth quarter earnings of 213 mln dlrs or 138 dlrs a share up from 195 mln dlrs or 124 dlrs a share a year earlier
zuercher ziegeleien ag plans a 60 mln swiss franc 2 1 4 pct domestic bond with warrants for participation certificates lead manager swiss bank corp said
the us state department said two days ago tehran had been told of us concern that iranian anti ship missiles posed a threat to the free flow of oil from the gulf
the company said it changed its fiscal year end from august 31 to december 31
dutch growth likely to slow jobless rise in 1987
s africa gold mining industry had record year
denmarks net official reserves rose to 60629 billion crowns in may from 48380 billion in april against 39481 billion in may 1986 the central bank said in its monthly balance sheet report
he said usx was not conducting talks with any other possible buyer of its energy assets
i dont think the bundesbank would give that up one banking analyst said
electricite de france is issuing 100 mln swiss francs of 3 3 8 pct notes with warrants issued by credit suisse attached to buy gold lead manager credit suisse said
security capital scc suspends dividends
the french treasury has decided to repay 680 mln francs of debt issued before 1950 the finance ministry said
not enough research and development effort has been put in by tin producers and we have been pushed out by substitutes such as aluminium paper and plastics lim said
cpc international inc said it has agreed in principle to sell its peterson puritain inc subsidiary to hi port industries inc
yesterday washington announced plans to put as much as 300 mln dlrs in tariffs on imports of certain japanese electronic goods in retaliation for what it sees as tokyos failure to live up to their bilateral chip pact
conchemco inc ckc sets quarterly
but the difficult task of keeping production advances at bay still remains as at least one more season of production deficit is needed to eliminate some of the remaining surplus stocks still overhanging the market man said
it said sorghum output in calendar 1986 was 534 mln tonnes down five pct from the 1985 level and prices on the free market rose in january to 042 yuan per kg up 14 pct on january 1986
treasurer paul keating forecast economic growth at slightly under two pct in the financial year ending june this year down from the 225 pct forecast contained in the 1986 87 budget delivered last august
monetary and fiscal policy appear to be the key factors behind the avoidance of recession the report said
thai prices for march may 15 shipments have hardened to around 13 14 points under may new york from larger discounts previously they added
frozen pork belly stocks at 345 mln lbs on march 1 compared with a revised 349 mln lbs on february 1 for a net out movement of 05 mln lbs
payment is due april 30
bbc ag brown boveri und cie bbczz said it will omit dividend in 1986 for the second consecutive year
hill expects morris to earn 775 dlrs a share this year and 950 dlrs in 1988
within the past few months national westminster bank plcs county bank subsidiary and swiss bank corp have applied to the federal reserve bank of new york to become primary dealers in us government securities and their london offices have just recently received direct dealing brokers screens
the 10 year bond which pays 10 pct and is priced at par is guaranteed by the parent company bell group ltd whose shares closed in australia today at 1070 australian dlrs
in addition exchequer transactions and bankers balances below target will remove some 85 mln stg and 15 mln stg for the system respectively
consumer prices in the countries of the organisation for economic cooperation and development oecd rose 03 pct in february and inflation rose to 24 pct year on year the oecd said in a communique
the whole refinery was closed pending enquiries but a decision when to reopen the main units will be taken in the next couple of days he said
japans 1986 87 sugar cane output seen falling
lvi group inc lvi 4th qtr oper net
fiber optic lines which send digital light impulses along microscopic glass lines is quicker more accurate and more economical than traditional copper cables
if you start selecting priorities your priority is not my priority
amoco an oil reserves down gas up in 1986
consolidated fibres inc cfibo 1st qtr net
the bank of france intervened in the paris foreign exchange market this morning for the third successive day banking sources said
an increase in personal tax allowances would save taxpayers 14 billion marks
western canadas resource based economy is being hurt by international market forces and there is little ottawa can do about it finance minister michael wilson said
us agriculture secretary richard lyng warned the european community yesterday it will face serious retaliation if it enacts a new tax on products such as us soybean oil
us soybean acreage after soaring to 714 mln acres in 1979 from only 52 mln acres five years prior to that has steadily declined in the 1980s
the statistics office said the march increase reflected rises in certain sectors such as food clothing and household goods and falls in transport heating and lighting
ec sources said the office was likely to open in the second half of this year
the financial results for the diversified leisure and defense aerospace company had been qualifed by arthur andersen and co since 1982
current first quarter includes results of operations of loews theatre management corp which tri star acquired december 31
the strike began on june 11
this would be equal to a dividend of 46 cts a share on the present common seven pct higher than the current rate
observers say the plan has failed to stabilise the countrys economy
adsteams equity accounted net earnings rose to 7505 mln dlrs in the half ended december 31 from 5568 mln a year earlier and interim dividend to 18 cents from 16
woodside earlier reported attributable net loss rose to 1714 mln dlrs in 1986 from 873 mln in 1985 although group revenue rose to 22084 mln from 17350 mln
although the worldwide economic situation remains unsettled there are some encouraging signs in our business ibm said in a statement
national royalty corp nroc 4th qtr loss
dupont unit raises crude oil postings 50 cts bbl effective yesterday
lloyds shipping intelligence service said the british bulk carrier envoy 75453 tonnes dw was grounded at mile 190 in the orinoco river on october 16
marcade group said it had agreed to buy europe craft imports inc for a combination of cash and common stock
new dutch special advances unchanged at 53 pct
the debentures have an 8 3 4 pct coupon and were priced at 99784 to yield 120 basis points over the off the run 9 1 4 pct treasury bonds of 2016
the bank board said thrifts were net repayers of 44 billion dlrs of borrowings in january in contrast to their 63 billion dlr net increase in borrowings in december
for the next few years most analysts see three six pct air traffic growth and they expect profits will come from cost cutting and careful spending
banks must repurchase securities pledged on july 1
it does confirm however that the financial services firm which unsuccessfully attempted to expand shearson with a major acquisition last year is looking beyond its own walls for growth and positioning in the global market competition
but he said there was a need to spell out government policy especially on prices
a large dutch animal feed compounder will begin formal legal proceedings early next month as a test case on the way the ec grain co responsibility levy is applied a spokesman for dutch grain and feed trade association het comite told 
may was at 154 dlrs from 15280 asked last night
final terms will be fixed on april 10
any further sharp decline of the dollar would hinder washingtons efforts to reduce its trade deficit stoltenberg told a news conference on tuesday
he said there was virtually no room for further monetary policy action to boost the economy
american security corp said a release will be forthcoming shortly regarding its pending merger with maryland national corp mdnt approved by its stockholders october 10
egypt rejected all offers at a vegetable oil import tender yesterday for unspecified amounts of sunflowerseed oil and or cottonseed oil traders said
if we had not supplied oil to ecuador the life of this country would have ground to a halt he said
he said telephone contact had been established with the trapped miners but they could not be brought to the surface until the fire was extinguished
the west texas sour and light louisiana sweet grades were also raised 50 cts to 1810 and 1935 dlrs a barrel respectively
so we dont know if any of the swap arrangements will really stand up in court said one bank official
a statement issued by the conference here said frequency of southern africa europe container service sailings is being increased from nine to seven days
french unemployment rises to seasonally adjusted 265 mln in february official
domestic sales rose 04 pct to 27417 billion yen from a year earlier while exports declined 99 pct to 61504 billion
belgian bank said to see slower growth
first federal of michigan ffom 1st qtr net
the mint said two increments of 1300000 lbs each are for delivery the weeks of april 13 and april 20 to ball corp greeneville tenn and two increments of 1092000 lbs each are to be delivered the weeks of april 20 and april 27 to lasalle rolling mills lasalle ill
soybeans produced in the united states face a competitive price problem because of the loan rate provisions of the 1985 farm bill us undersecretary of agriculture daniel amstutz said
the effective date of the rule has yet to be determined
medtronic inc mdt sets payout
and the australian reserve bank using the fed as agent sold australian dollars in the us yesterday dealers said
he pointed out that there are some contractual points to be considered
the mood in the united states is extremely disturbing
theres a lot of speculation here that someway or other they would be forced to come up with another bid said rosario ilaqua of lf rothschild
in light of these disclosures sun found it necessary to re evaluate the feasibility of seeking control of the company and has sold a portion of its shares and currently intends to sell the balance thereof from time to time the group said
the study by the non partisan congressional research service crs said the proposed merger appears to comply technically with the mandates or letter of statutes if may nevertheless violate the spirit of the law comsat created by a 1962 act of congress and contel a corporation of local telephone and communications firms filed with the federal communications commission last november 3 an application for merger
the borrower is a state backed public corporation which provides 70 to 85 pct of the single family residential mortgages in alaska
hungary devalued the forint by a similar amount last september 23
after trading late yesterday at 5 15 16 pct fed funds were indicated by brokers to open comfortably at 5 15 16 six pct
he said in the case of textiles import restrictions however retaliation would be against us textile exports
chemclear inc cmcl terminates merger talks
shr not given net profit 1033000 vs loss 4346000 sales 6060000 vs 5818000 note company operating in chapter 11 bankruptcy
german retail turnover rises one pct in january
the company said both flows were through 40 64 inch chokes and from zones between 10000 and 13000 feet in depth
usx x consolidated natural cng end talks
the oecd in its semi annual review of the world economy said a failure of the reagan administration and congress quickly to agree on measures to cut the deficit could seriously affect confidence both in the united states and elsewhere it predicted that the federal deficit in fiscal 1987 running until september 30 this year would substantially overshoot both the balanced budget acts target of 144 billion dlrs and official us estimates in february of 175 billion
hbo hboc urges shareholders against andover
this upsetting of the markets political perceptions which are all but discounting a conservative victory in the upcoming general election made them more sensitive to the trade data harwood said
the central bank will keep a watch on high growth in liquidity because this is a factor that may cause rises in prices of goods he said
taiwan imports all its soybeans from the united states
initial 1987 crop estimates will probably be compiled towards the end of may he said
closing of the acquisition is scheduled for april
a banker involved in the veba placement said nothing has changed in the planning
dealers said federal funds were trading at 6 3 8 pct when the fed began its temporary and indirect supply of reserves to the banking system
the 15 1 2 year facility with a six year grace period carries fixed interest of 648 pct
he said the daily telegraphs first quarter operating loss was sharply reduced from last year
the use rate for utilities was up to 808 pct last month from 804 pct in january
sorghum production estimates remained steady at 32 to 35 mln tonnes down 167 to 22 pct from the 41 to 42 mln tonnes produced in the last harvest
the obvious lack of coordination between the bundesbank and finance ministry does not instil confidence in foreign investors said one economist for a london broker who asked not to be identified
coarse grain supply demand by country usda
douglas said the present scale of the public debt was massive
but the smelter remains closed as do the suralco mines at moengo 60 miles east of paramaribo which were closed down by guerrillas last november
montreal trustco inc is issuing a 100 mln canadian dlr 8 1 2 pct bond due may 6 1992 at 101 pct lead manager societe generale said
onic tenders wednesday for wheat for pakistan
swiss regional banks set two bonds
industrial output grew 44 pct in the first quarter of 1986
new harding group sets first payout since 1978
a foreign agricultural expert said the rise will take the price to 17 fen per jin 05 kg from 16 fen
copperweld steel co cpsl a subsidiary of csc industries inc said it will increase from market price levels its bar semi finished and leaded products effective july one
within this total lending to consumers fell by 60 pct and lending to businesses declined by 50 pct
the operation will put outstanding bill supply at about 1500 billion yen
the traders were responding to questions whether they would follow the example of cpa members meeting in yaounde
the government currently holds some 5785 mln ordinary shares in the company
chilean left wing leaders were elected by the copper workers union for the first time since the left wing government of salvador allende was overthrown in a 1973 coup
with many electronic goods produced overseas this may show that foreign producers are not raising prices which bodes ill for us competitiveness he said
the us index of leading indicators fell a seasonally adjusted 10 pct in january after a revised 23 pct december gain the commerce department said
it said instead that such moves as increasing oil reserves and more exploration and development research would help to guard against or mitigate the risks of increased imports
in a filing with the securities and exchange commission the group said it bought the stake which amounts to 53 pct of the total outstanding common stock to acquire an equity interest in the company for investment purposes
the company said small royalties expected to result from use of cpc trademarks by the new owners will be utilized for social programs in south africa it said no significant impact on earnings is expected from the sale
emerald homes lp said its general partners declared an initial 30 ct per unit distribution payable may 15 to unitholders of record march 31
we cannot accept this assessment because we have made not inconsiderable progress under difficult conditions even though we are aware of our own weaknesses zemljaric said
the recent decline in the dollar which hit a 40 year low against the japanese yen monday was reversed wednesday when several large us money center banks unexpectedly raised their prime lending rates by a quarter point to 7 3 4 pct
the restructured agreements call for suspending dividend payment on tidewaters common and convertible adjustable preferred stock and contain other restrictive covenants including a requirement to maintain minimum tangible net worth
respondents reporting an increase in orders fell to 22 pct in march from 30 pct in december while those with orders accepted but not yet delivered fell to 14 pct from 21 pct
the bank of england said it revised down its forecast of the deficit in the money market today to 750 mln stg from 800 mln
a total of 500 mln lira of commercial paper of turk henkel as is on sale today osman erk deputy general manager of yapi ve kredi bankasi told 
following news of the tender offer caesars worlds shares were trading at 27 7 8 up 3 3 8
the issue has been taken up by the british government as a test case on the openness of japanese markets
i think what we have to face now is trying to preserve our economy the one time chairman of merrill lynch and co inc mer said in an interview on the abc television network
caesars world said in a statement that the cash distribution will result in a substantial deficit in stockholders equity it did not give an estimate of the size of this deficit
westpac perpetual frn no instant cure dealers say
theys said the plant would cost about 125 mln canadian dlrs with production beginning in 1991 if economic conditions are right
the two consortiums international digital communications planning inc idc and international telecom japan itj were set up in 1986 to compete with monopoly kokusai denshin denwa co kdd after the market was deregulated in 1985
dna said that when the transactions are approved by its shareholders it will issue additional shares of its common so that mize will own 80 pct of its issued and outstanding stock
world bank lends to chinas machine tool industry
norway has offered 10 new offshore blocks to foreign and domestic applicants in the first phase of the countrys eleventh concession round government officials said
market loan could be pinned to us trade bill
general acquisition said that if gencorp agrees to accept another buyout proposal that it also be given an opportunity to bid on a competitive and fair basis before any final decision is made
my outlook at this point is optimistic that there will be no adjustment for the full years earnings meredith forecast 1987 fully diluted per share earnings of 380 dlrs for royal bank of canada compared with 374 in 1986 430 dlrs for bank of montreal compared with 359 225 dlrs for canadian imperial bank of commerce compared with 223 215 dlrs for bank of nova scotia compared with 194 and 285 dlrs for toronto dominion bank against 274
the wilkinson sword group was transferred to the swedish match co today except for companies in certain countries where approval from government authorities is required the company said
mikron instrument co mikr 1st qtr jan 31
cogeco inc said it agreed to acquire 100 pct of quebec city radio station cjmf fm and will issue subordinated voting shares of the company to cover a portion of the purchase price
ea viner holdings ltd said the earlier reported chapter 11 bankruptcy filing of hecks inc hex in which viner holds 408000 shares would not materially affect viners capital position or its ability to carry on its profitable brokerage business
ecuador owes private foreign banks 450 to 500 mln dlrs in interest payments for the rest of the year and 66 mln dlrs in principal payments maturing in 1987 finance officials said
london trader e d and f man said it sold two cargoes at 233 dlrs a tonne cif for march april shipment with an option to sell an additional two cargoes at the same price
it said the proposal is subject to approval by commercial security shareholders and various regulators
stgobain netherlands guaranteed by cie de stgobain is issuing a 75 mln ecu bond with gold warrants attached due may 6 1992 carrying a 4 1 2 pct coupon and priced at par lead manager salomon brothers international ltd said
a malaysian oil palm growers council official borge bek nielsen has said studies have shown that palm oil is cholesterol free low in saturated fats has anti cancer properties and prevents blood clotting and blocking of arteries in humans
the exercise period is june 5 1987 to february 4 1992
although some say the franchise system might get in the way of a public offering jauppi says there are few obstacles to trading in car dealer shares
the commodity credit corporation ccc has accepted a bid for an export bonus to cover a sale of 6000 tonnes of semolina to egypt the us agriculture department said
colombia coffee exporters believe in pragmatism
that package heralded as the first to incorporate all aspects of us treasury secretary james bakers plan to aid indebted countries included a 77 billion dlr loan which was signed today in new york
dnc international finance as is issuing a 10 billion yen eurobond due april 7 1994 with a five pct coupon and priced at 102 3 8 pct yamaichi international europe ltd said as joint book runner with tokai international ltd
ausimont compo nv aus raises quarterly
the us general services administration sold 5490 tonnes of tin in 1986 well above an agreed upon annual limit of 3000 tonnes the states of malaya chamber of mines said
when nymex announced its proposed rule change in december nymex president rosemary mcfadden said expansion of the efp provision will add to globalization of the energy markets by providing for in effect 24 hour trading the commodity futures trading commission approved the rule change in february according to a cftc spokeswoman
the volume of european exports to south africa carried by container line vessels has declined 40 pct in the last two years british shipping executive antony butterwick said
the market is getting mixed signals and it doesnt know which way to go one analyst said
bond corp holdings ltd bonas of australia said it had no comment on an article in a london evening newspaper speculating on its plans for a bid approach to uk ddrinks and food giant allied lyons plc alldl tony oates bond corps executive director for finance and administration said the company does not comment on market rumors or press conjecture he added in all instances of this kind problems are likely to arise whatever is said
the operation will put the outstanding bill supply at about 3200 billion yen
abc said the deal had originally been mandated for 50 mln dlrs but a lead management group of six banks each underwriting 10 mln dlrs had been formed prior to general syndication which started today
indonesias non oil and gas exports fell to 579 billion dlrs in calendar 1986 from 598 billion in 1985 according to bank indonesia figures
sony is hoping to retain at least 1985 86 levels of group net profits and sales in the new financial year starting april 1 1987 he added
in the first a 285 pct dividend was set on the stock with a strike price of 190 dlrs that represented a 15 pct premium over the common stock price when terms were set
i think ronald perelman is less interested in gillette and more interested in putting gillette into play because he stands to make a ton of money said andrew shore analyst at shearson lehman brothers inc
with a timely spring soviet farmers would probably be able to reseed the damaged acreage with spring crops but analysts noted that spring crops normally yield lower than winter crops sometimes as much as 30 35 pct lower
habbel said the new audi 80 had sold extremely well in the first two months of 1987 helping audi to increase its overall market share in west germany to 84 pct from 52 pct in the same months of 1986
qtly div three cts vs 12 cts prior pay april 15 record april 6
payment date is april 22 1987
general refractories co said it agreed to sell its european refractories and building products operations for about 62 mln dlrs to an austrian investor group
christiania bank og kreditkasse is issuing a 15 billion yen eurobond due march 31 1992 paying 7 1 2 pct and priced at 101 3 4 pct lead manager yamaichi international europe ltd said
the firm will then use the funds to buy from its stock holding banks title to repayments of specified foreign loans which are potentially bad the sources said
this in turn could lead to urgent appeals from latin american countries faced with mounting debt problems to the us state department and to the national security council in the white house for an easing of the us position us officials said
the business daily gazeta mercantil reported that in many sectors of the economy there was a real fear that production lines would grind to a halt next month
mountain view acquires maratech communications
marine midland banks mm has an agreement in principal to acquire first pennsylvania
he said the fed is focusing instead on the funds rate and is trying to keep it roughly within a six to 6 1 4 pct band
he said if other countries follow canadas lead it could result in a rash of protectionist actions throughout the world french corn growers have recently indicated they will challenge us corn gluten feed shipments to europe
but it said growth may be higher in added value products in financial services and in other diversified businesses
it said at the time the shelf is issued the net proceeds from this registration and a previous registration together totaling 75 mln dlrs will be used in part to refund a portion of the companys outstanding first mortgage bonds and in part to reimburse a part of the funds required in earlier refunding activities
it is guaranteed by the bank of nova scotia
bachelor lake gold mines inc year loss
the linotype unit based in eschborn west germany had revenues in 1986 of more than 200 mln dlrs the company said
the treasury would strive to keep the psbr at 10 pct of gdp in future he said
bonn expresses support for us on ec veg oil tax
csr bids 220 dlrs a share for pioneer sugar mills
gander mountain gndro buys western wear firm
shr 23 cts vs nine cts net 5700000 vs 1920000 revs 355 mln vs 198 mln 1st half shr 41 cts vs 17 cts net 100 mln vs 3100000 revs 693 mln vs 367 mln note share adjusted for two for one stock split approved in december 1986
melville corp mes 3rd qtr net
the preference stock has been called
unadjusted may unemployment totalled 191 mln people up from 190 mln in april and 162 mln a year earlier
traders said they were reluctant to take out new positions amidst uncertainty over whether opec will succeed in halting the current decline in oil prices
most believed the fed had targetted a two week borrowings average of around 500 mln dlrs
short term refers to 1987 and 1988 the spokesman said
interfirst corp ifg 1st qtr loss
the imf last year approved a 22 month loan package for zaire totaling 270 mln dlrs
31 1982 not already owned by aegon
mts acquisition corp a company formed by martin t
condere corp formed by former managers of armtek corp said it completed the acquisition of a tire plant and other assets of armtek for undisclosed terms
the market also faces the regular weekly three and six month bill auction today amounting to 128 billion dlrs
the well has a choke of 11 64 of an inch and is 10097 feet deep
fixman said diversified industries as part of its effort to redeploy assets wants to sell its theodore sall inc and liberty smelting works 1962 ltd units
azpurua said four basic elements are being negotiated with the banks now spread reduction deferral of principal payments due in 1987 and 1988 lenghtening the 12 1 2 year repayment schedule and debt capitalization schemes
global trading in yen bond futures expected soon
mitsui real estate development co ltd mreat 
such bids often depend for their success on creating a highly charged and artificial situation in the share market and give rise to temptations on both sides of the battle to engage in aggressive even manipulative tactics that are immensely damaging to the interest of the shareholders he said
the company will buy back its outstanding 797 mln dlrs of 770 pct debentures of 2001 at 10320 pct of par value plus accrued interest 599 mln dlrs of nine pct debentures due 1999 at 10315 pct per principal amount plus accrued interest and 50 mln dlrs of 9 1 8 pct debentures of 2000 at 103625 pct of par value plus accrued interest
backing up the soybean producers active lobbying the us government has also indicated it will be prepared to retaliate with penal import taxes if the proposal does get through he said
the consumer affairs and coinage subcommittee bill would limit credit card interest rates at eight percentage points above the yield on one year treasury securities
us negotiators were successful in getting other members of the pact to agree that the price review and adjustment mechanism of the rubber agreement would accurately reflect market trends and also to continue the accord as a market oriented agreement us officials said
one banker at nikko securities co ltds the nikko securities co deutschland gmbh said the cost of mark issues may be too high for some japanese firms
subsidiary of hongkong and shanghai banking corp
it may be possible for them to sell additional loans kotowski said
the trade issue has now become a political issue since the reagan administration is facing uproar in congress over th3pygks in cutting the countrys 1698 billion dlr trade deficit they said
if metropolitan were to exercise the option and acquire all of hacks stake it would have 471208 metex common shares or 359 pct of the total
progressive savings prsl 4th qtr loss
its total disbursed foreign debt is estimated by the world bank at 37 billion dlrs
van driel said the company would continue an active takeover policy in the us but would be wary about paying more than its current price earnings ratio of 17 times net profit
in addition woolowrth said 137367 armel shares have been tendered subject to guaranteed delivery
shr 41 cts vs 31 cts net 4568656 vs 3461674 assets 17 billion vs 14 billion deposits 146 billion vs 119 billion note 1986 results restated to reflect a 100 pct stock dividend
bp uk refinery due to partly re open next week
safety kleen corp said it completed the acquisition of an 80 pct interest in breslube enterprises for about 12 mln dlrs in stock and cash
macneal schwendler corp mns raises payout
a three part 160 mln dlr offering of virginia housing development authority collateralized mortgage obligations was priced first boston corp said as a manager
analysts say the potential of santa fes land assets are likely to be realized slowly
the disaster aid bill as it now stands calls for a one year 0 92 pilot program for 1987 crop wheat and the 1988 winter wheat crop
the banks have responded by laying the groundwork for writing down brazilian loans
note full name is anglo american industrial corp ltd
de croo in washington for talks with administration officials and congressional leaders said at a news conference there is a battle within the community on the tax on fats and oils used in the 12 ec countries
one source said india is showing more dynamism in promoting countertrade deals than in the past when the deals were made discreetly because they break gatt rules
the first major rescheduling was not sealed until mid february this year when arabian auto agency known as aaa reached agreement to stretch out repayments of 700 mln riyals of debt to some 50 saudi and international banks
but opinion was divided on whether the united front forged in paris still exists
public service co of new hampshire said its board voted to omit the quarterly dividend which would have been paid on may 15
feb 28 end shr nil vs nil net 132804 vs 53510 revs 2001107 vs 1467742 avg shrs 739 mln vs 567 mln nine mths shr nil vs nil net 302316 vs 171034 revs 5230014 vs 4112562 avg shrs 744 mln vs 567 mln
espinosa said ecuador planned to pump 35 mln barrels through the link in the next five years at a cost of 75 cents per barrel during the first year
borden to acquire prince co for about 180 mln dlrs
the canadian dollar bond launched earlier today for hydro quebec has been increased to 150 mln dlrs from 125 mln lead manager merrill lynch international said
note results for year 1986
the yugoslav firms in turn will export oil products to france
the communique did not identify the supertanker but said columns of smoke were seen billowing from it
british compound feed production detailed
international fine foods inc said it has acquired 2001 distributors inc of west babylon ny for 875000 common shares plus contingent shares based on future earnings
huckaby said the campaign to urge a halt to domestic sweetener output increases is an effort to forestall further cuts in the sugar import quota now at one mln short tons
qtly div 10 cts vs 10 cts previously pay april 20 record april 10
papandreou told an emergency cabinet meeting in athens the military readiness of our country is able now to give a very hard lesson if our neighbours turkey were to carry out military actions he said the activities of the research vessel could be aimed at partitioning the aegean
the cut in exchange earnings of oil exporting countries was only partly offset by the advantages gained by the regions oil importing states he noted
a 100 mln dlr deal for norsk hydro was launched later in the day and the issue was trading around its total two pct fees at close of grey market trade although dealers said the borrowers frequent appearance in the euromarkets could deter investors
american express axp approves shearson offer
sunter acquisition corp and sunter holdings corp were formed by first boston and allegheny
bilzerian said he and bicoastal made net purchases of 515600 shares on the new york stock exchange jan 26 march 25
citicorp cci the largest us bank said last week that it might have to reclassify most of its 46 billion dlrs in brazilian loans as non performing thus removing them as part of the banks expected income producing assets
shr 35 cts vs 44 cts net 1311000 vs 1619000 revs 1252 mln vs 1172 mln note american building maintenance industries inc
the bureau said total trade volume was up 25 pct on the same 1986 period with exports up 181 pct but it gave no other comparative figures
he said smc and ucpb would meet later this week to try to resolve disputes over the pricing of the shares
niedermeyer spent two weeks in baghdad negotiating the sale late last month and early march
it said gold production in the first three years should average 50000 ounces per year
under a pact reached last july japan was to stop dumping semiconductors in world markets and to open its own market to us made semiconductors
asamera inc year oper shr loss 48 cts vs profit 50 cts
leading industrial nations to meet in april
he said the 10 billion dlrs increase in total reserves in the past seven months may foreshadow full uk entry into the european monetary system
a house agriculture committee meeting to draft a disaster aid bill containing a controversial 0 92 provision has been postponed until next tuesday committee staff members announced
colombia blasts us for coffee talks failure
nippon columbias share price fell 20 to 1260 yen on the tokyo stock exchange today
however with the ec budget stretched to breaking point this could give treasury ministers extra resolve in resisting higher guaranteed sugar prices and build a case for a future cut in the basic a and b quotas they added
this compares with the banks estimate that the system would face a shortage of around 12 billion stg today
27000 long tons usg taiwan 2325 dlrs fio five days 1500 1 10 5 continental
originally occidental had planned to offer 30 mln shares
cable and wireless to merge two hk units into new telecommunication operation
this is well below the 73 pct rise planned for the industry for all of 1988
this is what is produced in excess of the basic area needed to meet the ec a and b quotas which receive full and partial price support respectively
french industrial production rises in february
harnischfeger industries inc hph 2nd qtr net
remaining recoverable gas reserves in the areas held by the santos ltd stoss led cooper basin joint ventures have been upgraded to 27217 billion cubic feet bcf from the 2466 estimated last may santos said
the company said ami diagnostic operates seven magnetic resonance and mutli modality diagnostic imaging centers
he said the report favourably assessed some trends in the yugoslav economy but did not say which
the treasury said the bank of england used the opportunity of strong demand to rebuild reserves after losses last autumn and said the underlying rise was still relatively modest
crude futures are called unchanged to five cts weaker tracking unchanged domestic crudes and north sea brent crude which traded at 1801 dlrs a barrel today about ten cts below yesterdays new york close
per share amounts adjusted for 10 pct stock dividend paid june two 1987
kenya devalued the shilling by 06 pct against the special drawing right sdr in response to the decline of the dollar last last week bankers said
meinhardt said without the sharp appreciation of the mark against major trading partner currencies incoming orders would have been four pct above the prior years level
the selling concession is 1 1 2 pct while management and underwriting each pay 1 2 pct
a rio port spokesman said the halt would cause daily losses of about 100000 us dlrs
besides vaskevitch who is a british and israeli citizen who lives in london others named as defendants in the suit were david sofer an israeli citizen living in jerusalem and two corporations plenmeer ltd a british company and meda establishment a lichtenstein corporation
the steep increase in the number of branches of japanese securities houses in london and the growing numbers of us and uk brokers coming to tokyo has helped the london markets growth dealers said
the countrys 1987 92 medium term development plan targets a 98 pct average annual growth in exports and a 107 pct growth in imports the ncso said
sosnoff said it has extended the tender until may 15
a two year project to search for oil and gas in jordan was agreed in amman by jordans natural resources authority nra and the canadian company petrocanada international assistance corporation pciac the 191 mln dlr assistance agreement was signed by jordans minister of energy hisham al khatib and pciac chairman peter m
the domestic economies of the major trading partners of the us may deteriorate to such an extent that they will be forced to ease thus paving the way for a more accomodative us credit policy added john michael analyst at first options of chicago
he said that the reagan administration was resisting strong domestic pressure for trade protection and was working closely with the us congress in crafting a trade bill
the unilateral boycott gives domestic companies until late september to cut trade ties with south africa and namibia
the basis for the talks is the gatt ministerial declaration last september in punta del este uruguay and the subsequent trade negotiating plan agreed in geneva
house speaker jim wright dismissed charges that the trade bill before congress contributed to the fall in stock prices on wall street
shr 33 cts vs 48 cts shr diluted 33 cts vs 44 cts net 4435000 vs 6410000 revs 8393 mln vs 7518 mln 1st half shr 55 cts vs 94 cts shr diluted 55 cts vs 88 cts net 7374000 vs 126 mln revs 168 billion vs 151 billion
its amazing to me that the japanese were surprised
e and b marine ebmi 4th qtr net edison nj april 3 shr loss 165 dlrs vs loss 24 cts net loss 3259000 vs loss 470000 revs 160 mln vs 9510000 12 mths shr loss 84 cts vs gain 63 cts net loss 1661000 vs gain 1301000 revs 805 mln vs 564 mln
total corn commitments for the 1986 87 season total 1015800 tonnes the department said
qtly div 30 cts vs 30 cts in prior qtr payable may 25 record may one
while the companys operating record has been successful s and p said the action also reflected uncertainties and risks associated with managements new business and investment strategies
base rates will decrease by 625 mln dlrs due largely to its sale in the seabrook nuclear power project a reduction in federal income taxes and lower costs of capital
the reduction should help india reach its coffee export target of 90000 tonnes in fiscal 1987 88 ending march 31 against provisionally estimated exports of 75000 tonnes in 1986 87 and an actual 99254 tonnes in 1985 86 he said
wonnacott an economics professor at the univerity of maryland said an agreement should include elimination of tariffs between the two countries phased in over a five to 10 year period equal access to federal government procurement in the two countries replacing current buy america and buy canada provisions with a buy north america provision fewer restrictions in trade in services chiefly finance and transportation a commitment not to screen foreign investments in favor domestic producers a commission to resolve bilateral trade disputes
gunze sangyo sets 25 mln swiss franc notes issue
refiners were not significant purchasers of physical oil on monday as a result increased gulf tension following the us attack analysts said
other major issues of the meetings include a us bid to to have a larger say in approving loans of the inter american development bank strengthening the link between loans and economic policy changes in debtor nations
the london based trade journal metal bulletins average producer price of good ordinary brand zinc for week ended april 10 is 79000 dlrs per tonne
morgan grenfell says 1986 profits hit by guinness
philippines heads confidently into debt talks
montgomery securities co managed the deal
the warrant will be for a term of two years
they have always honoured the agreement and theres no reason now to think they wont this year he told 
security council calls talks after gulf attack
among other units are little folk shop a chain of discount childrens apparel stores the rx place a discount drug health and beauty aid operation and face fantasies which sells cosmetics
aetna life and casualty co said it filed a shelf registration with the securities and exchange commission for the issue of 200 mln dlrs of debt securities
it said in a statement it has bought an extra 94 mln shares at prices ranging from 380 nz dlrs to 480
dnc unit issues 19 billion zero coupon yen bond
diamond shamrock corp said that effective today it had cut its contract prices for crude oil by 150 dlrs a barrel
meanwhile the value of exports of agricultural products from the netherlands in calendar 1986 fell 54 pct to 487 billion guilders from 515 billion in calendar 1985 figures from the ministry of agriculture show
the company wrote off 141 mln dlrs of marble hill costs in november 1986 and repaid its final 20 mln dlrs in debt in october 1986 it said
hayes albion hay completes going private deal
gantos inc gtos 4th qtr jan 31 net
nine mths 1987 includes seven cts gain for partial settlement on an insurance claim
most latin officials set greater store on building up export income than on debt equity schemes
mge planning april 6 start up of hfcs contract
despite the dearth of activity in the dollar straight secondary market two new dollar issues were the only early features on the primary market
non callable to maturity the issue is rated aa 3 by moodys investors service inc and aa by standard and poors corp
the gulf market overreacted to the soviet buying reports which indicate the ussr has booked over two and perhaps as much as 40 mln tonnes of us corn one midwest cash grain trader said
the industrys outlook for 1987 is positive but not robust texaco canada said in its annual report
investor paul bilzerian has 72 pct pay n pak stake may seek control
pillsbury co psy votes quarterly dividend
at this weeks tender on monday the bank sold a total of 77 billion francs worth of 13 and 26 week bills against an original offer of seven billion and demand for 2266 billion
dealers said that the sharp drop in three month bills resulted in part from recent outright bill purchases for a customer believed to be related to heavy intervention by foreign central banks to support the dollar
yao liu president of chi shun hwa steel co a leading shipbreaker and steel producer in kaohsiung told we expect to scrap fewer ships this year because of an expected decline in our steel product exports lin said many breakers predicted a 20 pct decline in scrapping operations this year due to falling demand from the us japan and southeast asia for taiwanese steel
a majority of producers wanted quotas to continue under this basic scheme
analysts said transcanadas bid signals domes debtholders that an alternative exists to domes debt plan
on canadas stock exchanges energy shares have soared to their highest levels since 1983 with many issues trading at record highs
pre tax profit 5132 mln guilders vs 5455 mln net profit 2853 mln guilders vs 2654 mln consolidated net turnover 668 billion guilders vs 640 billion net profit per 2500 guilder nominal share 1111 guilders vs 1033 taking into account one for three scrip issue last year final dividend two guilders vs same making total 350 guilders vs same
consumer spending a main driving force of domestic demand was likely to remain lacklustre although brisk housing and business investment would help sustain the economy this year the economists said
geodyne geodo sets warrants acquisition
oper shr profit six cts vs loss two cts oper net profit 225000 vs loss 91000 revs 4814000 vs 3339000 year oper shr profit 12 cts vs loss two cts oper net profit 415000 vs loss 73000 revs 164 mln vs 169 mln note data does not include from discontinued operations 4th qtr 1986 gain of 632000 dlrs or 19 cts per shr 4th qtr 1985 loss of 250000 dlrs or seven cts per shr 1986 year loss of 4054000 dlrs or 117 dlrs per shr and 1985 year loss of 606000 dlrs or 17 cts per shr
the minister will seek a clear timetable from japan for easier access for british institutions to japanese financial markets reciprocating the easy access japanese securities houses and banks have to the city of london
pechiney pukgpa said it signed two letters of intent with the soviet union covering the setting up of packaging and packaging materials joint ventures
he also forecast gdp would rise 28 pct in 1987
standard closed in new york last night at 64 7 8 dlrs down 1 3 4 dlrs
income from discontinued operations including the liquor businesses was 67 cts per share
the last time the adjusted total of unemployed was below three mln was july 1984 while the unadjusted total was last below this level in june 1983
weiss predicted the pattern of quarterly lossses which characterized 1986 will be reversed and 1987 will see the company return to profitability
the six nations agreed in paris exchange rates prevailing then were broadly consistent with underlying economic fundamentals and further substantial rate shifts could damage growth and adjustment prospects in their countries the paris statement said
58 japanese financial institutions are authorised to deal in london of which 29 are banks
anchor financial corp afcxo 3rd qtr net
talks with third parties are expected to continue the shareholder group said
elcor elk ups qtly div sets stock split
the sale was approved by the west virginia public service commission in january and became effective march one
karl herbert schneider gaedicke deputy management board chairman of dg bank deutsche genossenschaftsbank said german domestic and institutional investors had also shown reservations about investing in participation shares
bank board says mortgage rates down in february
this was a remarkable change in attitude especially on the part of our american colleagues he said
it said spiridellis had revenues of 3500000 dlrs in calendar 1986
indias state owned oil and natural gas commission ongc plans to drill more wells in the bombay offshore area where a well spudded in february this year gave both oil and gas an ongc spokesman said
the operation will begin on march 31 a spokesman said
its not totally off the wall says cole
traders had also forecast todays total authorised sugar tonnage export awards to be between 60000 and 70000 tonnes versus 71000 last week when the restitution was 43248 ecus
the louvre agreement by the group of seven finance ministers and central bankers to stabilise currencies has worked well and needs no fundamental strengthening at the economic summit in venice on june 8 10 uk chancellor of the exchequer nigel lawson said
it said it indicated it was flexible on price but was told there were certain issues important to sgl management and while they were not conditions to the deal dart was expected to take them into account in putting together its package
vegetable oils may tighten despite seed surplus
marketing systems of america inc said it has retained richter cohen and co to assist in efforts to redirect its business through merger or acquisition
if there were a strike we would not expect any interruption in our service the nbc spokeswoman said
their secretaries said they were out of their offices
sweden raises fuel taxes to fund defence spending
michigan general mgl begins exchange offer
s and p cited hechingers outstanding record of sales and earnings growth as well as what it termed the companys position as one of the best operators in the retail home improvement industry
mtech corp said it has received 33467 shares of commercial resources corp in response to its 1025 dlr per share tender offer for all 150000 shares
indonesian sugar output is forecast by the government to reach 2126 mln tonnes in calendar 1987 against projected consumption of 2039 mln tonnes agriculture minister achmad affandi said
shr 72 cts vs 74 cts net 119 mln vs 119 mln nine mths shr 218 dlrs vs 218 dlrs net 350 mln vs 346 mln assets 46 billion vs 43 billlion loans 31 billion vs 28 billion note 1986 3rd qtr includes securities after tax gain of 1519000 dlrs or 10 cts a share
upon completing the deal there will be 2649500 common shares of capitive venture capital issued and outstanding of which 149500 shares will be held by the public
the new division will have production plants in finland sweden norway the netherlands and the us
a total 60500 tonnes of current series white sugar received export rebates of a maximum 44819 european currency units ecus per 100 kilos at todays european community ec tender the uk intervention board said
treasury balances at the federal reserve rose on march 23 to 3332 billion dlrs from 3062 billion dlrs on the previous business day the treasury said in its latest budget statement
treasurys baker forecasts reduction in japanese trade surplus this year
allied supermarkets inc said it filed with the securities and exchange commission a registration statement covering 240 mln dlrs of debt securities
thus the dollar firmed to close the period at 18320 marks and 15370 yen
jan 31 end shr profit 49 cts vs loss not given net profit 1360000 vs loss 241000 revs 208 mln vs 143 mln avg shrs 2760000 vs 1970000
fees comprise 1 3 8 selling concession and 5 8 pct management and underwriting combined
national city bancorp ncbmo 10 pct dividend
istat said its consumer prices index for the families of workers and employees base 1985 was 1091 in february against 1087 in january and 1047 in february 1986
the current account deficit fell at the lower end of the range of forecasts of 700 mln to one billion dlrs made by market economists yesterday
tandy corp said consolidated sales and operating revenues for the third quarter ended march 31 totaled nearly 7760 mln dlrs up 12 pct from 6934 mln dlrs last year
they said the maximum rebate of 45678 european currency units ecus per 100 kilos was 087 ecus below what producers claim is needed to obtain the equivalent price to that offered for sales into intervention
the bundesbank said its balance sheet total fell by 377 billion in the week to 21845 billion
the south and south central areas of alberta lacked moisture with germination patchy at best
a dayton hudson spokeswoman would not identify the buyer but wall street sources said dart group corp dartao was the company interested in buying dayton hudson stock
taco bell corp a unit of pepsico inc said it increased its stake in calny inc common stock to 1349884 shares or 279 pct of the total outstanding from a previous figure of approximately 1230107 shares or 254 pct
i think it just fits in with their long range plans to increase their position in the us market dean witter analyst eugene nowak said
tin traders response muted to kl futures market
oregon steel buys kaisers napa valley plant
ibc closes export registrations ibc official
van lanschot bankiers nv co owned by national westminster plc nwbll and rabobank ba rabna said 1986 net profit rose 88 pct to 241 mln guilders on a 48 pct higher balance sheet total of 62 billion
meanwhile nakasones ruling liberal democratic party ldp is to consider measures to boost imports and open up the japanese market such as government purchase of supercomputers and expanding foreign access to the kansai airport project party sources said
pioneer savings bank inc psbno 2nd qtr net
mr
arguing that oil is a political tool in every nation on earth frank pitts chairman of pitts oil co today called for a variable oil import fee among other measures before the treacherous foothold of the middle east is irreversible and our national security is compromised royce wisenbaker chairman of wisenbaker production co agreed saying that like many federal government programs that were set up with good intentions it would probably turn into a shambles wisenbaker added that he was optimistic for the future
the purchase for an undisclosed sum will be made mostly with idea common stock the company said
improved market conditions for the products from these plants may make it feasible to reopen some of them usx said in the report
a penalty rate of interest of 19 pct is now introduced if the limit is exceeded
the action reduces the guarantee lines previously authorized for sales of cotton from 15 mln dlrs to 500000 dlrs for feedgrains from four mln to two mln and for wheat from 45 mln dlrs to 43 mln dlrs and increases coverage for vegetable oil sales from two mln to seven mln dlrs the department said
it also said lower 1986 earnings were due to much lower earnings in transportation equipment and losses in steel castings and forgings which offset gains in the mining sector and improvements in forestry equipment
corn cont 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 usage feed 4500 4300 4095 4126 other 1180 1150 1160 1129 ttl domest 5680 5450 5255 5255 exports 1375 1250 1241 1241 total use 7055 6700 6496 6496 end stocks 5240 5595 4040 4040 farmer reser 1400 1300 564 564 ccc stocks 1700 1500 546 546 free stocks 2140 2795 2930 2930 avgprice 135 165 135 165 223 223 note price in dlrs per bu
m 3 which is non personal fixed term deposits and foreign currency deposits of residents booked at chartered banks in canada rose 113 billion dlrs to 21728 billion dlrs
another 400 billion yen will yield 37991 pct in a 20 day repurchase pact maturing on april 28 they said
he said oil industry aid is needed because exploration and development spending dropped by at least 50 pct since world oil prices fell during the first half of 1986
i dont think theyll even get to what they did last year mitchell said
oper net excludes extraordinary gain of 875000 dlrs vs 284000 dlrs for qtr and 1053000 dlrs vs 462000 dlrs for 12 mths
weather conditions were good with no fog or wind and there were many other vessels in the area
among canadas largest oil companies class a shares of imperial oil ltd imoa 70 pct owned by exxon corp xon is trading at 71 up from a 52 week low of 34 3 4
louisiana land and exploration co said it assumed the obligation to pay the principal and interest on the 8 1 2 pct convertible subordinated debentures due september 1 2000 of inexco oil co a unit of louisiana land
another arbitrageur said he was not sure what was going on
we find more room to discuss these things innovations with european banks which have already bitten the bullet what is clear however is that banks are so angry and frustrated with brazil that they are in no mood to offer quick concessions
window dressing operations by some japanese companies who were selling dollars and buying yen before the end of the japanese fiscal year on march 31 were undermining the us currency
a five billion dlr credit facility being arranged for two units of british petroleum co plc bpl attracted over 15 billion dlrs in syndication but will not be increased morgan guaranty ltd said on behalf of morgan guaranty trust co of new york the arranger
carteret savings bank said it has completed the previously announced sale of six virginia branches to charter federal savings and loan association chfd carteret said it has opened a retail banking office in vienna va as the next step in its move to build a strong presence in the washington dc baltimore md area
oper shr profit 92 cts vs loss six cts oper net profit 1351000 vs loss 112000 revs 228 mln vs 287 mln avg shrs 1465926 vs 1968601 year oper shr profit 181 dlrs vs profit three cts oper net profit 2837000 vs profit 59000 revs 848 mln vs 699 mln avg shrs 1569287 vs 1980432 note current qtr figures exclude gain from discontinued operations of 533000 dlrs or 37 cts per share vs loss of 480000 dlrs or 24 cts per share
it was business as usual yesterday at the american motors headquarters one day after the proposed merger was unveiled by chrysler and amcs french parent renault according to company spokesman edd snyder
fed funds were trading at 6 1 8 pct at the time of the direct injection of temporary reserves dealers said
extra heavy crudes were among those left out
of the total original issue of 667 mln dlrs 50 mln dlrs of notes were sold to the public and 167 mln dlrs were sold to the merchant navy officers pension fund of great britian
shr 65 cts vs 63 cts net 527 mln vs 477 mln revs 116 billion vs 9766 mln avg shrs 799 mln vs 743 mln nine mths shr 173 dlrs vs 154 dlrs net 1414 mln vs 1179 mln revs 339 billion vs 275 billion note share after preferred dividends
mangan and the co lead managers said the three different pricings enabled the finance arm of general motors to borrow at attractive rates
it bought 45 mln stg of local authority bills plus 27 mln stg of bank bills in band one at 10 3 8 pct together with 94 mln stg of band two bank bills at 10 5 16 pct
the two companies agreed earlier this month for klm to take a 15 pct stake in british and commonwealth commuter airline air uk ltd in a deal worth around two mln stg
denominations are in 1000 and five times 1000 guilders
the company said the deposits do not affect the safe operation of the plant but interfere with the production of steam
chrysler corp said it has no intention of increasing its offer for electrospace systems inc ele chrysler agreed to purchase the texas based defense electronics contractor in a tender offer of 27 dlrs a share for a total value of about 367 mln dlrs
i think well still be able to get a reasonable trade bill out in spite of that because the whole congress is trying to work together with the administration but there is a hardening trade attitude he said
on corporation tax he said the rate will remain unchanged at 35 pct in 1987 88
food department officials said the us department of agriculture approved the continental grain co sale of 52500 tonnes of soft wheat at 89 us dlrs a tonne c and f from pacific northwest to colombo
they are not going to be enough for any kind of surge in economic activity but i think they will keep us out of a recession mauro said
in recent years brazil has demonstrated its ability to generate surpluses sufficient to service its debt and i have no doubt that in due course it will reach an agreement with the banks and its other creditors libra managing director peter belmont said in a statement
bowater reported a 324 mln stg profit in 1985
we feel the balls in the banks court one source said
the marines were despatched to the ports after the seamens strike now two weeks old was ruled illegal last friday
argentine officials said they might halt debt payments last month if creditor banks did not agree to a new 215 billion dlr loan
the unit reported total assets of 1967 mln dlrs on juen 30 1987
stephen slifer of shearson lehman brothers inc added we have some very good looking monetary aggregate data
gulf barge freight rates up further on call
opec conference president rilwanu lukman who is nigerias oil minister said friday he expects the meeting in vienna to be brief and calm and that opecs current price and production agreement may only need a slight review
the car industry was the major beneficiary of the upturn in activity in february with both domestic and export orders rising
pitt des moines inc said it will receive a qualified opinion from auditors on its 1986 and 1985 financial statements
metro funding shareholders approve merger
sama increased the offer price on the 500 mln riyal issue to 9846094 from 9842188 last monday
but one industry source doesnt think oil prices will hold recent gains and more government assistance is needed
fuel storage tanks in france burst into flames
financial security savings and loan association said it signed a letter of intent for a controlling interest to be acquired by an investor group led by south florida developer william landa
according to the letter chairman kenneth macke expressed to the group buying its stock the companys desire to remain independent
that will ease their interest cost burden said henry
the new shares will rank for dividends declared after october 31
but conflicting with this trend are plans to increase west german tax cuts part of the paris currency pact designed to meet us demands for faster west german growth
shr loss five cts vs profit 10 cts net loss 381391 vs profit 736974 revs 6161391 vs 9241882 note canadian dollars
last year republic was acquired by reph in a leveraged buyout transaction led by dr
canadian steel shipments to the us have risen to 57 pct cent of the us market in recent months almost double the level just two years ago canadian trade officials said
they said the australian dollar which last week touched an eight month high of 06900 us dlrs but is now around the 06800 level should not react adversely to the figures unless the current account shortfall tops one billion dlrs
he cautioned that while growth so far was high the targets had not yet been achieved
about 300 other creditor banks also are expected to approve the agreement he said
bentsen also south korea and taiwan should be pressured to revalue their currencies in relation to the us dollar
niagara said it is concerned about the continued lowering of authorized return and has reinforced petitions to grant a fair return on equity
the purchase would include shells interest in 39 retail gasoline stations and four petroleum product terminals pri said
saudi oil reserves rise despite higher output
carolyn bean cben completes acquisition
brazil is the worlds largest coffee producer and exporter
norcen previously reported 1986 earnings excluding a 201 mln dlr writeoff declined by 58 pct to 500 mln dlrs from 1197 mln dlrs in in 1985
us declines comment on schlumberger slb move
century business credit corp said it received an offer from stanley tananbaum chairman and chief executive officer to take the company private in a transaction giveing shareholders 2440 dlrs per share in cash
a sinking fund starts in 1998 to retire 76 pct of the debentures by maturity giving them an estimated maximum life of 224 years
the fhlbb said home savings was the 12th troubled savings institution requiring federal action this year
it is an internal constraint that exists because the imf debt cannot be rescheduled fernandez said
the february increase left the index at 1871 over its 1967 base of 100 and was led by a rise in stock prices
total m2 rose 33 pct to 53526 billion dlrs in january from december when it rose 35 pct on the previous month
net interest earnings were 4904 mln dlrs in the first quarter down from 4994 mln a year earlier and net yield fell to 279 pct from 320 pct
referring to that attack howe added i trust the iranians will fully understand that continued attacks of this kind will only enhance justification for firm action in self defense at a press conferenced in luxembourg during a meeting of european community ec ministers howe was asked about statements from a senior iranian official who said america was now involved in a full scale war
the farmers expect rain this week
yu said the interest earned from the reserves totalled about 168 billion us dlrs from july 1986 to february 1987
the effective rate including a central bank levy for transactions in the coming week was 38241 against 39246 last week
arkansas best corp said its 1987 first quarter earnings will be significantly lower than fully diluted earnings of 22 1 2 cts per share in last years first quarter
ida approves 114 mln dlr credit for india
generally we feel very good about the bipartisan consideration of the trade legislation
the dollar was trading around its midday rate of 14230 yen
the annualized growth rate accelerated to 32 pct in october december from 30 pct in july september
belgian state loan priced at par
amcast acst completes sale of newman division
diplomats call us attack on oil rig restrained
the project costing 523 billion taiwan dlrs will be completed by april 1988 two months ahead of the targetted date he said
debtors and bank creditors have a joint responsibility and there will be no lasting solution unless a positive flow of financing is guaranteed azpurua said
uk 4th qtr trade deficit 26 billion stg current account deficit 760 mln official
sweden has current payments surplus in 1986
american management systems amsyo 1st qtr net
but dealers said the longer term outlook for the dollar remained bearish
so far our copper has been reaching its destinations without hindrance he told the times
this is the first hard constructive proposal coming out as an alternative to the reagan administrations farm proposal the plan offered by reps
energy factors efac to buy allied ald units
we want to have a weeks pause one manager said
audiotronics corp said it registered with the securities and exchange commission to offer five mln dlrs of convertible subordinated debentures due 2002
the ufcwu bargaining committee and full membership rejected in late january a contract proposal by john morrell a subsidiary of united brands inc he said
reagan imposed the sanctions on april 17 in retaliation for japans failure to honor commitments to end dumping semiconductors in world markets at less than production costs and to open its own market to us goods
world bank figures show approved lending to china by the two bodies amounted to 1137 billion in 1985 86 1102 billion in 1984 85 and 104 billion in 1983 84
he urged a wholesale reorganization of bank personnel
it has begun to level off but we dont see it beginning to go down yet he told the panel
us exporters report 120000 tonnes wheat purchased from foreign sellers for 1987 88
there now looks to be no danger that the chancellor of the exchequer nigel lawsons forecast of a 1987 current account deficit of 25 billion stg will be exceeded wroblewski said
we expect natural gas to regain 250 to 400 billion cubic feet of demand in the overall energy market in the second and third quarter 1987 he said
bfgs parent credit volume eased to 3263 billion marks in 1986 from 3351 billion
pay n pak said the second proposal is conditioned upon a satisfactory agreement with the companys management regarding its equity participation in the new company
usda reports 10572 mln acres in conservation
the hawaiian insurance companies ad assets at the end of 1986 of 1374 mln dlrs and earned premiums of 461 mln dlrs
he also said that although he was confident the bacterium salmonella eventually could be eradicated it would take time and much money to contain the growing problem
the official was quoted as saying that lower output was the result of member countries firm determination to defend the organisations official price of 18 dlrs per barrel and to refrain from selling any quantity below that price the unnamed official was further quoted as saying that no opec meeting was foreseen before the next biannual opec session planned to start on june 25
with domestic demand of around 12000 barrels per day bpd and prospects of production of over 100000 bpd by late 1991 png would become an ecuador level crude exporter fesharaki said
miguel ascensao of acico told that lisbons civil court in a preliminary ruling had decided epac should not be allowed to take part in tenders open to private traders
cut to baa 2 from baa 1 were the senior debt of the company and the guaranteed debt of its unit beneficial overseas finance nv
economic analysts and the imf have been saying for some time that the ability to keep the debt crisis from turning into an economic rout rests on sustained economic growth
the dividend represents a 12 pct annual return based on the companys original offering price in december of 10 dlrs a share
the five year non callable bullet bond is for payment on march 24 and coupon payments are annually on march 25
the fledgling exchange currently trades coffee and rubber physicals on an open outcry system four days a week
pyable april 20 record april eight
jp morgan says brazil action will reduce first quarter net by about 20 mln dlrs
berger asserted that brazil is doing its own politicking by talking to us regulators and trying to drive a wedge between us and european banks
tokyo is the worlds most expensive city for business travellers a survey issued this month by employment conditions abroad said
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
1986 3rd and nine mths 21 mln and 79 mln dlrs for tax credits
but industry sources said they expected the company to show current losses of about five billion yen or more in 1986 87 compared with a 298 billion loss in 1985 86
time tl unit to redeem 100 mln dlrs in notes
moodys investors service inc said it may downgrade british petroleum co plcs 35 billion dlrs of debt and standard oil cos 38 billion dlrs of debt
showboat sbo to take charge sees 3rd qtr loss
but imtec said no merger talks havew yet taken place
the department said it decided to make final its tentative decision after reviewing the public response to it
the market had been untapped prior to this announcement
jamaica has put a cap on its 35 billion dlr foreign debt and will reduce its obligations by 300 mln dlrs this year prime minister edward seaga said
the 050 cent a gallon price reduction brings suns heating oil contract barge price to 50 cts a gallon the company said
under the new procedure all current outstanding and all new upland cotton certificates issued under the 1986 upland cotton program will have an expiration date of either february 29 1988 or nine months from the last day of the month in which the certificate is issued whichever is later
but some bankers who declined to be identified said the halt also suited mexico as it would keep up pressure on the banks during the final campaign to persuade all 400 creditors worldwide to participate in the loan
no signal is being sent he said that the kitty hawk is operating in an area where it usually does
the 1986 summer grain harvest was a record 93 mln tonnes up from 92 mln in 1985 out of a total 1986 grain harvest of 391 mln
french sugar group beghin say which is 496 pct owned by italys gruppo ferruzzi is to raise its capital to 703 mln francs from 527 mln through a three for one issue of shares and investment certificates to finance expansion president jean marc vernes told analysts
extensive drilling continues at goldstrike the company said adding that the full economic value of the property cannot be assessed until further results are available
marine midland mm buys brokerage assets
he also said capital expenditures should be about 400 mln dlrs in 1987
pacific gas began construction of the two nuclear power units in 1969
tecsyn tsnato terminates takeover talks
producers have resisted reducing the role of the council in the price adjustment procedure and have expressed concern that changes proposed by consumers would weaken the present pact
at the havana meeting delegates from latin america asia and africa will attempt to hammer out a common position for presentation at unctads annal meeting next july in geneva
six months net includes gain from discontinued operations of 104000 dlrs or three cts a share versus a loss of 588000 dlrs or 15 cts a share in the prior six months
he told reporters the committee would likely mount a campaign to fight the legislation when it comes up for debate on the senate floor expected next week
last week nakasone ruled out japanese military or financial help to patrol the waters of the gulf
suralcos alumina refinery at paranam 18 miles south of the capital was shut down february 2 after workers destroyed plant and computer equipment in a protest over layoffs at the companys nearby aluminum smelter
peabody the largest coal producer in the us had net income of 1008 mln dlrs on sales of 14 billion dlrs in 1986
it said in a statement it backed a proposal to allow ec states to ban sales of regular grade gasoline containing lead at six months notice
immunogenetics inc igen year net
more than 50 pct of the banks must give their approval and nogales said he is confident that this threshold will be reached
average yen cd rates fall in latest week
technigen platinum corp in metals find
conseco currently carries b 1 senior subordinated debentures and convertible debt
it said neither has declared the loans due
the medium and longer term interbank rates firmed today with three months ending at 5 1 16 to 4 7 8 pct against yesterdays five to 4 13 16 close
santana said if the saudis do not accept brazils terms by monday then petrobras will negotiate elsewhere
building materials rose 18 pct in february after falling by 17 pct in january
1986 year net includes gain one mln dlrs from sale of building and gain 3200000 dlrs from termination of pension plan
unadjusted february m1 b was 1168 billion dlrs against 1232 billion in january and 788 billion in february 1986
he said the mooring is the first of its kind in the us the new system can accomodate vessels up to 150000 deadweight tons or one mln barrels of cargo pri said
given the scope of these subsidies it should be possible despite major political difficulties to finance the tax reform by cutting state handouts
m 1 grew to an estimated 472 billion dlrs against 503 billion in december and 387 billion in january 1986
it continues a buffer stock of not more than 550000 tonnes established by a 197agreement
twa however has pursued its application with the department of transportation for a takeover of usair according to mark buckstein twa general counsel and vice president
the bank of japan will sell 800 billion yen in deficit financing bills today through 51 day repurchase agreements maturing june 3 to help absorb a projected money market surplus money traders said
funaro said last night brazil wants a rescheduling program spread over four years and added that it had to include new loans to keep the domestic economy growing
miles said he expects the property market to remain firm but said the firm has no available land for a major housing project such as its taikoo shing development on hong kong island now near completion
chairman gordon cain who previously led a leveraged buyout of duponts conoco incs chemical business has spent 11 billion dlrs since january to buy seven petrochemical plants along the texas gulf coast
holding company gemina spa said it had no comment on an italian press report today that it has acquired a 12 pct stake in nuovo banco ambrosiano spa italian daily la repubblica said that gemina paid 205 billion lire for the shareholding from several italian banks
portugals economy which has been enjoying one of its most buoyant periods in more than a decade may now be strong enough to shrug off the countrys latest government crisis analysts said
mcgraw hill fell 2 1 4 to 68 1 4 on 223000 shares
the average work week fell to 348 hours in march from 350 hours in february the department said
traders recently returned from west africa say some producers there are dismayed by the ineffective action so far by the international cocoa organization icco buffer stock manager on buffer stock purchases
money market mutual funds fall 119 billion dlrs in latest week ici says
davis water and waste industries inc said it has restated its earnings on a pre stock split basis for fiscal 1987s third quarter and nine months ended january 31 which were reported march 10 on a post four for three stock split basis
gnb inc said it joined with the management of the french company compagnie francaise delectro chimie to purchase the company for an undisclosed amount
french official reserves rose 258 mln francs in may to 42050 billion francs from 42024 billion at the end of april the finance ministry said
in the latest flashpoint in canadian us trade relations the us international trade commission ruled unanimously monday that canadian potash shipments valued at 270 million us dlrs last year were injuring the us industry
if world protein meal demand stagnates thus limiting the crush of soybeans the need for serious supply rationing in the edible oils sector could develop he said
the system transfers crude and fuel oils from tankers to the refinerys tank farm and carries refined products to ships for export pri said
one dealer said the bank of japan probably intervened in australia before the opening here but could not confirm this
metex corp said its chairman and chief executive officer alan cohen sold 78375 shares of metex common stock to metropolitan consolidated industries inc mony the company said the selling price was 1125 dlrs per share with an option for metropolitan consolidated industries to purchase up to 42750 shares more at the same price
the proposed sale was under antitrust review by the us justice department
flash flood watches were issued for this morning across the eastern half of kansas
madagascar extends amoco oil exploration agreement
international technology itx sees 4th qtr loss
frns whose coupons are refixed regularly usually trade around par
duffy told a press conference the cairns group of 14 major agricultural producers to which australia and thailand belong has emerged as an important third force in any multilateral trade talks
since 1970 weve been consuming oil at rates of 20 25 billion barrels per year while making new discoveries of only about 10 15 bilion barrels per year mcivor said
finance minister ray macsharry making cuts across the board reduced the exchequer borrowing requirement to 185 billion punts 107 pct of gnp compared with 215 billion punts or 13 pct of gnp last year
i dont think anybody has the stomach for it because they saw the futility of it in the seventies indeed because the market has grown in leaps and bound since then intervention on an even greater scale would probably be needed to impress the market
the state then sells the grain at subsidised prices to chinas 200 mln city residents
more
on the proposed omnibus investment code he said he was opposed to a clause which would allow the unrestricted repatriation abroad of investments made during the first two years after the imposition of the code
the company has also reduced costs through some staff cutting and a switch to profit sharing plans for sales staff instead of straight commissions shattner said
despite some late signs that prices were recovering last week todays erratic trade provided a similarly mixed final picture with longer dated frns still clearly under pressure
earlier this week the lme declared that a 9970 pct minimum purity aluminium contract would commence trading on june 1 1987 alongside its long established sterling based 9950 pct contract
with the april 15 tax return deadline less than a month away confused taxpayers will be converging on h and r block incs offices to interpret the new tax codes
currently it must be shut twice a year
syeduzzaman said remittances from expatriates would rise to 600 mln dlrs this year from 425 mln in 1981 82
the agreement calls for drilling of 10 to 12 offshore wells per year primarily in the gulf of mexico area off the texas and louisiana coasts and 30 to 40 onshore texas and louisiana gulf coast wells
independence bancorp inc said it completed its merger with scranton penn based third national bank and trust co with assets of 316 mln dlrs
marcom telecommunications mrcm 2nd qtr jan 31
gurantees subordinated debt is currently rated b
the division makes specialty industrial chemicals it said
kidder peabody introduced this concept on february 12
us wheat growers set state dept trade meeting
after more than four hours of talks the g 7 issued a communique which merely reaffirmed the recent paris agreements view that prevailing currency levels were broadly consistent with economic fundamentals and that exchange rate stability should be fostered around these levels
adtec inc jail 3rd qtr feb 28 net
the notes were priced at 9963 pct to yield 843 pct and the debentures were priced at 9954 pct to yield 917 pct
it grew 83 pct last year
france sets 75 billion franc t bill tender
process chemicals acquired from diamond shamrock corp dia in september makes specialty chemicals for a variety of industrial markets and has annual sales of about 160 mln dlrs
taiwan trade surplus widens in first quarter
but it said the loss was offset by a 25 mln dlr gain on the sale of common shares of sea land corp a unit of csx corp csx
storehouse reports higher profits in 1986 87
wardley had a tremendous year acting as financial adviser and underwriter an analyst said
the debentures were given a 7 1 2 pct coupon and par pricing
duquesne first mortgage bonds and debentures were lowered to dp 9 middle bbb from dp 8 high bbb preferred stock rating to dp 10 low bbb from dp 9 and preference stock to dp 11 high bb from dp 10
the stock should settle back down to around 76 he added
seasonally adjusted figures showed that imports rose in february to 716 billion stg from 673 billion in january
the flotation plan has been interpreted by financial analysts as a means of helping finance the acquisition of the cpc business
belgian three month treasury certificate rate cut 010 points to 740 pct
he expects real gnp which grew at a 11 pct rate in fourth quarter 1986 to expand at a 33 pct rate this quarter and 35 pct next quarter
id be buying up to 90 toufexis said last week when the stock rose sharply to near that level
german february central bank money growth steady
the sunflowerseed harvest has covered 23 to 26 pct of the area sown and continues in parts of central buenos aires although at a standstill elsewhere due to rain and floods
american can co filed with the securities and exchange commission for a shelf offering of up to 500 mln dlrs of debt securities on terms to be determined at the time of the sale
the debentures are convertible into common stock at 825 dlrs per share
the us agriculture department said it will begin charging interest tomorrow on the over 12 mln dlrs the department of transportation dot owes usda to pay for its share of the cost of shipping food aid on us vessels
atoka currently operates a 20 mile natural gas pipeline of 46 miles in length in southeastern oklahoma
uk money market given late help worth 15 mln stg
offshore data services said some drilling contractors had reported recent increases of about 1000 dlrs a day on large jackup rigs which now command rates of 11000 to 12000 dlrs a day
rolls approaches float with profits set to rise
sensormatic electronics corp said it upped its investment in checkrobot inc in the form of 25 mln dlrs of convertible preferred stock raising its stake in checkrobot to 42 pct from 37 pct on a fully diluted basis
consumption of oil derivatives totalled 114 mln bpd in february 167 pct up on february last year but down from the record 122 mln bpd used in october last year
the study by the management consulting firm said that partly due to corporate restructuring the rate of job growth in san francisco has slowed since 1980
he said negotiations with the steering committee for the countrys creditor banks in new york would not end next week
the credit facility will also allow the borrower to issue cash advances with maturities of one three or six months through a tender panel which will be comprised of banks committed to the facility
industry sources said zccms projected pre tax profit for the financial year ended march 31 would be around 500 mln kwacha
mrs fields plans to open more stores
but todays smaller than expected rate cut appeared to have placated markets for now analysts said
analysts believe mondays wall street crash wiped out about 500 billion dlrs in stock values
a council official who declined to be named told the imports which will include about seven mln tonnes of oilseeds grains and dairy products would be worth some four billion us dlrs against 372 billion in 1986 and 338 billion in 1985
ibc acquisition gets 8857807 shares in tender to buy 909 pct
computerland officials could not immediately be reached for comment
the company said lane will become an independent dealter for the company in certain midwestern states
analysts said they were surprised at the governments announcement of a forecast budget surplus for fiscal 1988 but said it was consistent with previous policy statements and positive for the economy
the department is scheduled to release the new estimate at 1500 hrs est 2100 gmt today
s and p said recent sales of non regulated oil and gas coal fertilizer and telecommunications assets significantly reduce business risk
de villiers also warned in the annual report that failing prompt and decisive political action south africa faces a future of violent deadlock between different racial and political groupings he said south africas future economic prospects are clouded by political and social issues and in the absence of evidence that these are being positively addressed i am unable to offer an earnings forecast for 1987 standard bank 39 pct owned by standard chartered plc stchl london previously reported that 1986 net income rose by 138 pct to 2090 mln rand
bra kanon reckoned the world cocoa surplus could be less than half the 94000 tonnes estimated by the icco statistics committee
venezuela plans new borrowing with limits
the facility will allow argyll to issue sterling acceptances and multi currency advances and domestic sterling advances
it denied an iranian report that an iraqi jet was shot down
thats a very healthy development he added if you asked me about that a year or 18 months ago i would have said that it was terribly protectionist members of congress that is the contemplative members of congress have begun to realise protectionism is not the answer to the 170 billion dlr trade deficit yeutter said
this means that no open currency positions exist any longer on the amount of the provision that is made against an actual default he added
and the forum for such a reform is the general agreement on tariffs and trade he noted
compared with the same months of 1986 industrial production in january and february 1987 fell 1 1 2 pct the ministry said
headquartered in keene nh mpb designs and makes precision ball and roller bearings used in aerospace ordnance and computer applications
federal reserve weekly report 4 feb 26 one week ended feb 25 daily avgs mlns foreign deposits 219 down 29 gold stock 11059 unch custody holdings 168348 down 366 federal funds rate avg 595 vs 621 factors on wednesday feb 25 bank borrowings 1239 vs 446 including extended credits 92 vs 298 matched sales 8250 vs 2998 including sales w cust 4392 vs 2998 float 935 vs 2125
fed adds reserves via customer repurchases
electrospace systems designs develops and installs communications and electronic systems and equipment for the specialized needs of military and commercial customers worldwide
he said he expects substantial cutbacks in the 20000 member workforce at baker hughes inc the name the merged company will take
japanese securities houses have asked the finance ministry again to consider introducing auctions of 10 year government bonds securities sources said
commercial paper in tenures of one to three months will be issued in denominations of one mln dlrs it said
world group turnover 4047 billion vs 4438 billion
the report gave the targets for various crops with estimated harvested crops in 1986 87 in brackets as following in mln tonnes rice 65 60 wheat 49 49 coarse grains including sorghum and millets 32 29 and pulses 14 13 despite failure of monsoon rains in recent years it was possible to maintain higher foodgrain production signifying growing resilience in agricultural sector the report said
gobert characterized the market action in dome today as awfully optimistic given transcanadas offer to give current dome shareholders stock in a new subsidiary which it valued at 110 dlrs canadian per common share
state street boston corp stbk sets quarterly
the conference extended the term of office of fadhil al chalabi as deputy secretary general for a period of one year from october 7 1987
merrill lynch mer disputes moodys downgrade
the directors of hughes tool co ht said they would recommend to shareholders that they reject a merger with baker international corp bko today
reichold chemicals rci increases prices
federated group inc fegpo 1st qtr loss
viacom says federal court rejects request to block planned merger
dutch salvage firm smit tak said it may take some three weeks to lift the swiss tug orinoko and its lighter pavo which sank 10 days ago at karlsruhe in west germany blocking the rhine river
one of several investor groups formerly associated with london investor christopher moran in his unsuccessful bid to take over zondervan corp last year said it cut its stake in the company to less than five pct
he gave no further details of the change
the hydraulic co said its board approved a three for two stock split of its common stock and increased its quarterly cash dividend
entertainment makes buyout offer to crazy eddie
banknotes in circulation rose by 834 mln francs to 2479 billion while other deposits on call mainly government funds fell 160 billion francs to 104 billion
japanese crushers bought 5000 to 7000 tonnes of canadian rapeseed in export business over the weekend for april shipment trade sources said
japan october december gnp up 08 pct july sept revised 07 rise official
the company said it had expected higher revenues from the records conversion work but it now foresees revenues from southern bell work at about eight mln dlrs the same level as last fiscal year
i think all partners are hopeful that the situation will be resolved comincos townson said
the market is taking a breather now and i would expect it to last a little longer said craig sloane a currency analyst with smith barney harris upham and co
he added the treasury was aware of japanese news reports suggesting the reagan administration might issue such bonds as the former carter administration did when it sold carter bonds denominated in west german marks
excluding energy exports the 1987 figure would be two pct it said
dixons offered 9025 dlrs in its tender
a three year eurobond launched earlier this week for news international plc nwsll has been increased to 150 mln dlrs from 100 mln due to good demand lead manager credit suisse first boston ltd said
the bank is the latest to cut prime rates in recent days following a continuing decline in market rates
richard fritz director of international marketing at us wheat associates said he was confident an export enhancement offer would be made by the middle of this month
congress eyes loans that aid us competitors
however by the close of trading that spread had narrowed to 55 and continued to slide in aftermarket activity
the return is guaranteed through december 31 1988 the company said
if the recommendations are approved by the board the capital of the bank would rise from around 655 billion dlrs to 1966 billion dlrs
bids for the tender held today totalled about 465 mln dinars the spokesman said
qtly div 62 cts vs 58 cts in the prior quarter payable april 30 record march 20
sec charges merrill lynch uk managing director nahum vaskevitch with insider trading
borden inc bn to redeem 8 1 2 pct debentures
kiichi miyazawa japans finance minister said the movement since paris was consistent with currency trading ranges the nations agreed to defend in the february talks
however soviet purchases from the united states have tended to displace additional argentine purchases the report said
in january texas commerce acquired a failed bank in montgomery county adjacent to the houston metropolitan area and earlier this month opened a new bank in san antonio
in the 15 months to end 1986 ae produced pretax profits of 274 mln stg compared with 256 mln in the 12 months previously
shr 151 dlr vs 162 dlr net 286 mln vs 304 mln assets 238 billion vs 209 billion deposits 155 billion vs 14 billion loans 138 billion vs 12 billion
besides ibm computer associates will be far and away the most powerful company in the field added ef hutton analyst terence quinn
the rise in the fourth quarter of 1985 was probably a statistical anomaly that was repeated in the final months of 1986 the official said
we are not interested in confrontation but we would like the loan mechanisms to show that the crisis belongs to both sides funaro said
all bids for wheat were rejected they said
but miners union chief simon reyes told reporters the strike had nothing to do with subversion and was to press for more government investment in comibol
breakdown was as follows cotton 26992 41933 sunflower 1403230 1190862 linseed 261600 309191 groundnutseed 23595 22809 soybean 3275225 2415492 bran pollards wheat 606352 659271 fiber cotton 3256 107752 wheat flour 18065 67878 rape nil nil the board added
dutch merchant bank pierson heldring en pierson said in its february economic outlook that gdp growth at constant prices was expected to be 11 pct this year and market analysts had expected the cpbs final forecast to be below its own latest estimate
first union corp said the buyout of commerce national bank by its first union national bank of florida unit was approved by commerce shareholders
weve been following this louisiana gulf situation for a month and we dont think its going to get back in line in any nearby time burgess said
shares of temple inland inc tin and international paper co ip rose sharply this morning following a recommendation by prudential bache securities traders said
general partners holds 98 pct of gencorp stock and there was some concern about greenmail greenmail is the payment at a premium for an unwanted shareholders stock
about one third of that sum would be spent on export crops such as coffee tea rubber and pepper in the central highlands it said
tomorrows surplus is attributable to government tax allocations to local governments and public entities
while all but eight pct of westerns 11000 employees are unionized only deltas pilots are union members
wam said the officials would be discussing implementation of last sundays agreement in doha by gulf cooperation council gcc oil ministers to help each other market their crude oil
shr 62 cts vs 38 cts net 1110484 vs 677192 revs 366 mln vs 311 mln six mths shr 92 cts vs 68 cts net 1649453 vs 1211597 revs 682 mln vs 585 mln
the imf since the emergence of the debt crisis in 1982 has pressed many countries to tighten their belts and cut back on social spending as conditions to granting assistance
board of foreign trade director vincent siew told reporters on saturday us officials told him in washington last week that unless taiwan allowed its dollar to rise faster it would face retaliation
lanston and co
the attitude expressed here today so far is a great deal more optimistic than last year commissioner james e
landesbank rheinland pfalz finance bv is issuing a zero coupon 75 mln australia dlr bond due may 7 1992 priced at 52 3 4 pct for an effective yield to maturity of 14 1 4 pct said orion royal bank as lead manager
colombia will also attend for the first time as an observer nation the ministry said
allegheny today said it agreed to a buyout from first boston at 2460 dlrs per share
the company which lowered the payout from 27 cts to 26 cts this current quarter said it did not know how low the payout would go
about 1300 miners and workers entered today their fourth day of fast in union offices and roman catholic churches to press for a substantial hike in bolivias minimum monthly wage which is 40 bolivianos about 20 dlrs cob leader walter degadillo said
planting intentions in the south east ranged between nine pct less and two pct more than last years 125000 ha
ecuador crude oil output to resume next month
national video inc nviso year net
cpc international cpc completes asian sale
money brokers said yesterday they expected the bank to allocate about 35 billion guilders
westcoast said the acquisition would enable it to apply more than 150 mln dlrs of accumulated tax pools of agip canada ltd to enhance after tax cash flow from the acquired properties
a 133 pct jump in non interest expense to 4713 mln dlrs from 4159 mln also hit the bottom line
computer task group inc tsk 3rd qtr net
terminal prices today rose by up to 10 stg a tonne from fridays close basis july at its high of 1271
bankers said the move represented a change of tactic by the bank which until now has relied on raising interest rates to choke off money supply growth
mr
ford motor credit f to redeem debentures
the us treasuries market here is swap driven said david jones vice president at goldman sachs and co international and head of its us government bond trading desk
top officials arrive at treasury for g 5 talks
he gave no more details
imported tropical oils displace 171 mln bushels of us soybean sales in the us market asa estimates
volcker says reducing us budget deficit needed to improve trade balance
paul area
a federal appeals court ordered the oil companies to halt all exploration and remove all drilling rigs from two tracts in the bering sea off alaska because of possible harm to the subsistence needs and culture of native eskimos
davy mckee ltd a subsidiary of uk engineering and contruction company davy corp plc has been awarded a contract worth around 15 mln stg for the design of a zinc and lead smelter in india a spokesman for the company said
20 dlrs per barrel according to the state oil company petroleos de venezuela sa
sunflower sowings were expected to increase by between 86 pct and 146 pct from 829000 ha
the reserve bank of australia this morning cut the rediscount rate from 1730 pct to 1700 pct
bayou international gets stake in amalgamated
bank of japan governor satoshi sumita said there is little room left for the central bank to further ease its credit policy as interest rates levels are now approaching their lower limit
their position is a little less favorable than philip morris and rj reynolds he said
national security insurance co said a group of investors has acquired 226243 common shares or a 222 pct interest for 2750 dlrs per share
1985 results reflect operations for eight months ended dec 31 1985
avaq international inc said it intends to require gates learjet corp glj to honor its agreement to sell its shares to the company
the offer also eliminated overtime after eight hours following the normal 40 hour work week he added
rubber producers consumers start new pact talks
some also blamed the government for not paying for public sector contracts promptly
rooter rooto rescinds united western pact
our position has been made clear about the status of events in the gulf
under terms of the sale agreement which was announced on september 15 ferruzzi acquired all the equity in central soya and assumed subordinated term debt of about 195 mln dlrs in a transaction valued at about 370 mln dlrs
share of exports in sales rose to 87 pct from 80 pct
seven issues accounting for 013 pct of total state domestic debt would be redeemed by the caisse d amortisement de la dette publique the national debt amortisation fund a ministry statement said
us steelmakers union seek renewed import curb
the payment date is march 30 1990
there were fears that the combination of the two stoppages could lead to a serious fuel shortage
wall street stocks supermarkets general sgl 
japanese economist sees stable yen dollar rates
hcc industries hcci quarterly dividend
rothschild holdings plc it said ronald j
halmi said it reported earnings of 2800000 dlrs in fiscal year 1986 ended may 1986 on sales of 172 mln dlrs
hoechst ag hfagf said its group pre tax profit in 1986 would be slightly lower than the 316 billion marks posted in 1985 while parent company pre tax profits rose slightly from the 162 billion in 1985
they have enormous internal growth plans that takes capital
shr 14 cts vs 13 cts net 2867 000 vs 2723000 revs 189 mln vs 191 mln 1st half shr 39 cts vs 32 cts net 8139000 vs 6709000 revs 473 mln vs 445 mln note affiliate of mckesson corp mck
spanish dockers began a nine day strike on wednesday in which they only work alternate hours in protest at government plans to partially privatize port services
in a filing with the securities and exchange commission gfi said it sold 114000 allied products common shares on march 3 at 42 dlrs each and donated another 4746 shares to two universities
bundesbank president karl otto poehl said a weaker dollar would be risky and a further appreciation of the mark would damage prospects for sustained west german economic growth
the non callable issue of senior debt guaranteed by france has fees of 1 1 4 pct for selling and 5 8 pct for management and underwriting including a 1 8 pct praecipuum
the sources said the world bank wanted respected private sector individuals to be appointed to the apt and immunity from prosecution for the trust
the non callable bond is available in denominations of 5000 dlrs and will be listed in luxembourg
charles cheleden chairman and president of liberty financial and liberty savings will continue as president and chief executive officer of liberty savings headquartered in horsham pa the company said
in the balance of services a fall in net investment income led to a 300 mln mark deficit in february after a 300 mln mark surplus in january
mcv called its previous offer made february 26 the final proposed revision of its agreement with viacom
it also suggested the setting up of a marketing mission on coconut fibre to be sent this month to principal target markets
arango said that government measures adopted here last week including a lower export registration price indicated a major change but also disclosed a welcome pragmatism
bellsouth said the services aimed at companies requiring up to 20 telephones include speed dialing for 500 frequently called numbers last number redial conference calling and speakerphones among others
american home shield corp ahsc 4th qtr net
usda comments on export sales 
nigeria is hoping that further bilateral accords can be concluded soon as this could encourage official export credit agencies to renew insurance cover for exports to nigeria
banking sources said that while the bank of england is reluctant to inhibit competition it is willing to accept some constraints in order to ensure that underwriters act prudently
midmississippi river opens today for season
lone star industries inc said it signed an agreement to buy or lease five import cement terminals from hanson industries han kaiser cement corp
he said usda has grain left in only about 250 barges and that under provisions of the program these all have to be emptied by the end of march
shr profit 48 cts vs loss 21 cts net profit 1308503 vs loss 561384 revs 560 mln vs 661 mln note 1986 net includes pretax gain 2429563 dlrs from sale of worldwide computer services inc subsidiary and 352000 dlr tax credit
nucor corp nue raises quarterly
one dealer said he felt some business had been done but that the amount probably was on the low end of trade estimates
britain and west germany told their european community partners they would strongly oppose major elements of proposals to rid the ec of its farm surpluses
i myself believe that opec will tend to take a position to strengthen the gains we have made so far lukman said
the nordic investment bank is issuing a zero coupon 100 mln australian dlr bond due april 24 1992 priced at 53 1 2 pct for an effective yield at launch of 1333 pct lead manager chemical bank international ltd said
a military spokesman quoted by the official iraqi news agency said platforms at the field were reduced to rubble he said attacks on the field 55 miles northwest of irans kharg island oil terminal were carried out at 0600 gmt
personal computer products inc said it expects to report a loss of about 195000 dlrs in its third quarter ended march 31 compared to a year ago loss in the quarter of 169000 dlrs
photographic sciences corp pscx 4th qtr
rockefeller said the recent tour by brazilian finance minister dilson funaro of major industrial nations was a sign that brazil wanted to be cooperative
american express bank ltd a unit of american express co said it has agreed with the mexican government and local business groups to convert 100 mln dlrs of existing debt into equity to fund the construction of 3000 hotel rooms around mexico
comdata said rosewood financial inc together with cypress partners lp and driftwood ltd have acquired over five pct of comdata stock and rosewood intends to acquire over 15 pct of comdata
comb cmco sells three retail stores
some of the 80 boxes in the parsley consignment had already been distributed to markets and the department called on all shopkeepers and the catering trade to be on the alert
we dont want to see tension rise and we are doing what we can to see if we can help here redman said
shr 13 cts vs 37 cts net 1300000 vs 3700000 sales 189 mln vs 163 mln
the spokesmen said the sale results from an expected restructuring later this year of the 50 50 caterpillar mhi joint venture japanese company caterpillar mitsubishi ltd formed in 1963
india is to partially cover the cost of its malaysian palm oil imports through a countertrade deal involving the construction of two bridges valued at 20 mln dlrs an indian trade source told 
purchase of notes will be conditional on paperboard acquiring 982 pct of belkins shares from balaclava enterprises ltd
marble financial corp mrbl 1st qtr net
it earlier said 1986 earnings fell to 1042000 dlrs from year ago 2510000 dlrs
interco iss completes lane lane acquisition
soybean processors will continue to take seasonal downtime for maintenance if soybeans remain difficult to buy reducing the weekly soybean crush rate still further and keeping the spot soymeal basis strong dealers said
westcorp wcrp unit offers auto bonds
the fed spokesman said the banking system had excess reserves on thursday monday and tuesday and a deficit on friday and wedndsday
uk money market given 120 mln stg late help
a us economic policymaker said the accord was on track and tokyo and bonn seem to want more stimulative measures which is what the paris accord calls for international monetary sources said exchange market developments generally have not unsettled policymakers although japan is an obvious exception
amax said additional reserves amenable to heap leaching are estimated at 383 mln tons averaging 0025 ounce gold and 024 ounce silver per ton
the firm said over the weekend that it will conduct its savings and loan activities through standard pacific savings fa a federal stock association
fed sets one billion dlr customer repo
pillsbury corp reporting lower earnings for the third quarter ended february 28 said a strong performance by its foods group was offset by restaurants group declines
irving bank corp v 1st qtr net
hallwood group inc hwg 2nd qtr jan 31 loss
net write offs in qtr 1987 vs 1986 totaled 338 mln vs 342 mln and in year to date 1987 vs 1986 of 106 billion vs 988 mln
the trade data will be a deciding factor to see if the dollar has bottomed out said jim mcgroarty of discount corp
alfa corp alfao 3rd qtr net
co lead managers are dbcm and sbci
we believe it would put downward pressure on consumer costs
he said duty free import of cotton yarn was allowed to make high quality yarn available to local ancillary industries and to enable them to compete effectively in the world market
the significance that retreat will emerge from the terms of the bundesbanks next tender for a securities repurchase pact on tuesday and its result on wednesday money market economists said
usx x unit raises some crude postings
it is guaranteed by the bank of nova scotia
the current gross 725 pct interest rate for one year fixed bank deposit and the 115 pct minimum loan rate are the lowest in a decade
woolworths earlier reported a fall in net profit to 927 mln from 6320 mln on sales of 547 billion against 483 billion
finance ministry officials said that the governments abolition of price and rent controls last year was responsible for nearly a quarter of a 09 per cent surge in january living costs
the application which was approved unanimously will not eliminate sears savings as a competitor the fed said
soros has told the company today that he is not dissatisfied with management fairchilds bill fulwider told 
officials at waste management could not be reached for immediate comment
asta group inc unit in loan purchase
dutch animal feed usage in the first half of the current season from july through december 1986 fell 76 pct to 65 mln tonnes from 71 mln in the same period of 1985 figures in the latest newsletter from the co operative cebeco handelsraad show
he said the company is a major shareholder of ebi foods ltd a united kingdom blender and has licensing arrangements in australia canada brazil and japan
thailand has shipped 343 mln tonnes of rice in the year to date down from 368 mln a year ago
hillenbrand industries inc hb 1st qtr feb 28
cable unimpressed by new japanese telecoms offer
earlier today usda rejected its bids of 70 dlrs for both varieties they said
house 0 92 plan seen scaled back to 1987 wheat
based on the companys performance for the first nine months we expect to achieve our 23rd consecutive year of new growth records anthony jf oreilly heinzs newly elected chairman
net asset value in 1986 rose 35 pct to 1609 dlrs a share from 1189 a year earlier adjusted for a three for two stock split
pakistan will retender for 6000 tonnes of refined bleached deodorised palm oil for second half march shipment tomorrow after failing to take up offers today palm oil traders said
this view was shared by the majority of frn market sources polled by since trade began to collapse last week
the plan calls for intest to be paid at an annual rate of nine pct during may and 12 pct thereafter
the oecd said that the economy should pick up next year with the gross national product rising by two pct in real terms
oncor inc oncro 1st qtr loss
lyng will also urge japan to put its domestic farm policies including rice on the negotiating table during gatt talks in geneva
wainocos said its shareholders purchase rights distributed to the shareholders in june 1986 are unaffected and remain valid
shr profit one cts vs loss two cts net 74000 vs loss 122000 revs 17 mln dlrs vs 14 mln nine months shr profit five cts vs loss 10 cts net profit 299000 vs loss 624000 revs 51 mln vs 37 mln note3rd qtr ended january 31
the decision in paris is being understood by the market he said
madagascar has signed oil exploration agreements with four foreign oil companies since 1981
ended january 31 oper shr profit 398 dlrs vs profit 435 dlrs oper net profit 1236 mln vs profit 1083 mln revs 188 billion vs 176 billion year oper shr profit 32 cts vs loss 123 dlrs oper net profit 330 mln vs loss 9055000 revs 569 billion vs 527 billion note 1986 excludes writeoff of 404 mln dlrs primarily due to investment in dome petroleum ltd dmp
in fact currency dealers said there was nothing in wednesdays g 7 communique to alter the prevailing view that the yen needs to rise further to redress the huge trade imbalance between the united states and japan
santa fe southern pacific corp said it has discussed with henley group that companys almost five pct stake and was told the holdings are for investment purposes
the dutch ministry of finance plans a new fixed eight year state loan at an unchanged 6 1 4 pct
shr 43 cts vs 37 cts net 2276000 vs 1674000 sales 319 mln vs 239 mln avg shrs 53 mln vs 45 mln year shr 90 cts vs 69 cts net 4508000 vs 3096000 sales 984 mln vs 750 mln avg shrs 50 mln vs 45 mln
and many investing institutions such as pension funds and insurance companies still have excess cash he added
marcus corp said its board voted a 50 pct stock dividend to be distributed may 1 record april 15
on november 2 the house of lords will decide if and to what extent itc documents whether circulated or not are admissible as court evidence
bond corp international ltd said it has sold a residential block at hong kongs mid levels to a joint venture between sun hung kai properties ltd shkphk and new town nt properties ltd for 138 mln hk dlrs
foreign sales of silver copper zinc and other minerals earn peru over half of its export income
uk money market given further 152 mln stg help
mobil corp said it will spend over 30 mln dlrs to upgrade a gasoline producing unit at its beaumont texas refinery
high technology exports must be approved by the departments of commerce defense and state
s and p said the action reflected a change in the issues terms to unsecured from secured
the analysts who issued buy recommendations on some stocks said the recovery in oil services should begin in the second half of 1987 after drilling activity bottoms out in the first half and continue into the next decade
minstar inc mnst 4th qtr net
neither castro nor the cuban press have given out figures to estimate tonnes of crude production during the present harvest or the goals for the sugar campaign
coleman sees 23 cts a shr 1st qtr charge from heat exchanger replacement program
the total comprised 392845 bags in new york an increase of 261 bags and 192710 bags in new orleans a drop of 500 bags
i think its certainly on the low end of relative values of airline deals said pettee
the market is very unstable
key centurion keyc to buy bank of buckhannon
yesterday the federal department of energy charged gulf canada with eight counts of illegal dumping for discharging powdered cement and drilling mud between september 23 and 30 last year
the 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
caterpillar inc cat votes quarterly dividend
before seasonal adjustment the index for finished goods stood at 2923 over its 1967 base of 100
the decrease brings the companys posted price for the benchmark grade edmonton swann hills light sweet to 2226 canadian dlrs a bbl
general mining union corp ltd chairman derek keys cautioned that profits may not rise this year if the rand stays at its current level of 48 us cents
industrial equity pacific ltd a hong kong investment firm said it raised its stake in wrather corp to 2025850 shares or 281 pct of the total outstanding common stock from 1808700 shares or 251 pct
arango said an illustration of colombias new attitude was the decision on friday to open export registrations for an unlimited amount
bouey said the bank was able to reduce the number of new bond issues with maturities of 10 years of more lessen the reliance on canada savings bonds while raising substantailly more through short term treasury bill financings
funaro said us officials understand his position but they dont like it later he left washington for a tour of europe and debt discussions with officials in britain west germany france switzerland and italy
net includes pretax gains on sale of securities of 11 mln dlrs vs 29 mln dlrs in quarter and 13 mln dlrs vs 130 mln dlrs in nine mths
parker drilling suspends quarterly dividend
total reserves in 1986 declined by 189 mln rand to 570 billion rand and were equivalent to about 145 pct of the total annual value of import payments
he said the company plans to introduce several products including two low end systems and a data base that uses the sql programming language an industry standard
jamesway corp said its board declared a two for one stock split and increased the quarterly cash dividend by 33 pct
shr 10 cts vs 29 cts net 584000 vs 1688000 sales 198 mln vs 169 mln avg shrs 5959000 vs 5762000 year shr 68 cts vs 96 cts net 4013000 vs 5430000 sales 681 mln vs 613 mln avg shrs 5934000 vs 5679000 backlog 679 mln vs 606 mln
he said norstar had a book value at the end of 1986 of 1963 dlrs per share while fleets book value was 2802 dlrs
the agreement to limit 0 92 to a wheat pilot program follows vocal criticism of the proposal by some influential farm groups who are concerned about the major impact of 0 92 and by members of congress wary of reopening the farm bill
global lowers heavy fuels prices
prospects for the second quarter were relatively favourable with crude exports seen at 1320 mln bpd after an expected 1324 mln this month 1323 in february and 1395 mln in january
during the option period it said it will manage american la s operations
the entire hallmark offering is non refundable for 10 years
at the time bankers had argued unsuccessfully for a larger repayment given the countrys trade surplus of 25 billion dlrs
sanwa plans to increase its stake in bpi to four pct the ceiling for foreign shareholders the official said
ec warns us and japan on trade tensions
s and p expects fundamentals to remain strong for electric utility and natural gas pipeline and distribution units
turkeys trade deficit widened to 382 mln dlrs in april from 275 mln in march and 273 mln in april 1986 the state statistics institute said
siebel capital management inc a california investment adviser told the securities and exchange commission sec it bought 13 mln coopervision inc common shares or 59 pct of the total outstanding
the government has fixed the exchange rate at nine kwacha per dollar effectively revaluing the kwacha by 677 pct
the commodity credit corp ccc has accepted bids for export bonuses to cover sales of 340000 tonnes of hard red winter wheat and 210000 tonnes of soft red winter wheat to china the us agriculture department said
shell also said its shell canadian tankers ltd unit will lay off 13 employees and that socanav will offer jobs to 41 employees
sight deposits are a major indicator of money market liquidity in switzerland
we must be very careful
new zealand government borrows 100 mln sterling
most analysts said they were pleasantly surprised by ibms performance
french 1986 current account surplus revised
iroquois brands ltd ibl 4th qtr loss
the miti official said miti undertakes such surveys when exchange rates fluctuate widely
the next ordinary meeting of the conference will be convened in vienna on december 9 1987
rostenkowski reluctant to back tax hike
usair received an offer from trans world airlines to buy the airline at 52 dlrs cash per share
metropolitan currently owns about 257 pct of metex common and holds options to purchase about an additional 16 pct of metex common stock
the united states and a group of other industrial nations on thursday granted argentina a 500 mln dlr bridge loan
it said most opec members were overproducing slightly but only the united arab emirates uae was seriously above quota
qtr ends sept 25 shr 75 cts vs 64 cts net 2794000 vs 2363000 revs 1578 mln vs 1384 mln note 1986 qtr figures exclude effect of 1986 tax reform act which retroactively reduced earnings from 64 cts to 56 cts per shr
world trade in manufactures grew by only three pct in 1986 about half of the rate of the previous year
the officials said negotiations will start next month on another 150 mln dlr loan sought by manila to carry out reforms in 14 major state owned corporations
us official to visit japan as trade row grows
crow reiterated the banks previous statements that inflation remains a major priority in setting monetary policy and said only zero inflation would be acceptable
crude oil prices up as stocks output fall
renault to forgive american motors amo debt
shr 80 cts vs 62 cts net 111 mln vs 8545000 revs 686 mln vs 419 mln nine mths shr 196 dlrs vs 188 dlrs net 268 mln 241 mln revs 1801 mln vs 1263 mln
shr three cts vs 11 cts net 126000 vs 434000 revs 840 mln vs 802 mln avg shrs 4948731 vs 3870511
qtly div eight cts vs eight cts prior pay april 24 record april 10
argentine grain producers adjusted their yield estimates for the 1986 87 coarse grain crop downward in the week to yesterday after the heavy rains at the end of march and beginning of april trade sources said
us exporters report 150000 tonnes corn sold to unknown destinations for 1986 87
elders purchase of canadian brewer approved
the us treasury would be required to ask other countries for their views under a bill approved by a house banking subcommittee and sponsored by john lafalce a new york house democrat
profit from australia and the far east showed the greatest percentage rise jumping 550 pct to 155 mln from 100 mln while the profit from uk operations rose 307 pct to 247 mln and europe 429 pct to 110 mln
although citicorp denied earlier rumors of major loan writedowns its warning that it may have to place some of its brazilian loans on non accrual unnerved many wall street investors
i think someone else will probably come in or they mts will have to raise their bid said marvin roffman an analyst at janney montgomery scott inc
s and p cited the weekend bankruptcy filing
he said the inquiry will be the first step in setting marketing arrangements to apply after june 30 1989 when the underwriting and pricing provisions of the 1984 wheat marketing act expire
the japanese have complained that they have been honoring the semiconductor pact but that it would take time before the results showed up
japan may unemployment record 32 pct 30 pct in april official
revenue said it hopes to keep costs of compliance to a minimum
the measures are also aimed at cooling an overheated economy and could help dampen hungarians appetite for imported western goods which consume increasingly expensive hard currency the diplomats said
together with expected progress in commercial bank discussions with argentina and we hope brazil this should add up to substantial new lending for the major latin debtors in 1987 baker wrote
pittston said wtcs three principal shareholders who own 62 pct of its stock are parties to this agreement
weekly temperatures were below normal it said
both tranches are non callable for life
the fed seems to have been a bit slow in meeting the banking systems reserve needs this statement period but i wouldnt conclude anything until ive seen the fed data said jeffrey leeds of chemical bank
meinhardt said the authorisation would give the company the necessary flexibility in case linde needed additional funds for acquisitions
the 1986 projection of 145 mln tonnes is up from a provisional figure of 13 mln tonnes
today the government faced a fresh problem when most petrol station owners in sao paulo the countrys industrial heartland and in three other states closed down to press for higher fuel prices
chapman energy inc said it is launching a major restructuring which if not approved it will have no alternative but to seek protection under chapter 11
the notes may be redeemed on september 30 1989 at 101 1 4 pct declining by 1 2 pct per annum thereafter
a world bank mission was due here soon to evaluate emergency loans government officials said
the national development finance corp of pakistan has raised three billion yen through private placement arranger daiwa securities co ltd said
the reserve was taken to offset a decline in the us dollar against the danish kroner and other factors adversely affecting sales of its danish manufactured medical products in the us market nuclear data said
while the combination would strengthen both airlines market position and enhance revenue generating capability usair group would require substantial debt to finance the 16 billion dlr acquisition s and p said
last week a group formed by theodore cross offered to acquire harper and row for 34 dlrs per share
the ldp generally believes that there is no need for a further discount rate cut at the moment he said
safrica expected to unveil expansionary budget
he said that under the terms of this loan agreed during a visit here this week by ecuadors deputy energy minister fernando santos alvite ecuador will begin repaying the loan in august
investors set deadline for japan fund jpn 
joe gold corp said it plans to proceed with development of its golden patricia gold property in northwestern ontario
if the split is approved at the may 13 annual meeting the quarterly dividend rate will be adjusted to 10 cts a share dcny said
producers zinc stocks in organization for economic co operation and development oecd european countries rose to 159732 tonnes in january from 151171 in december and 127725 in january 1986 latest international lead and zinc study group ilzsg figures show
his legislation which also rejects president reagans call to sell the amtrak rail line would affect the states of massachusetts rhode island connecticut new york pennsylvania new jersey delaware and maryland
moodys said the lower ratings anticipate certain debt reduction in the coming year from the sale of assets
in addition us lines sa subsidiaries in brazil and argentina will be sold to american transport
the central bank made outright purchases of bank bills comprising 347 mln stg in band one at 9 7 8 pct 207 mln stg in band two at 9 13 16 pct and 135 mln stg in band three at 9 3 4 pct
debt rescheduling package for nigeria may be signed by mid september barclays nigeria say
opec has to learn that in a buyers market you cannot have deemed quotas fixed prices and set differentials said the regional manager for one of the major oil companies who spoke on condition that he not be named
wrather corp wco 4th qtr loss
he said he did not know how much support the levy had within the ec but he said he believed those originally opposed to the tax were under pressure to change their position
however the officials travelling with japanese finance minister kiichi miyazawa and who asked not to be identified would not provide any details of how they wanted the accord which was signed by the six leading industrial democracies in february to be strengthened
the confrontation is a fact now
healthmate inc hmte 4th qtr loss
general partners which includes gc holdings inc and general acquisitions inc said yesterday it was dropping its 100 dlr a share hostile takeover bid for gencorp because of gencorps move to buy back its shares for up to 130 dlrs each
he put sugar stocks at 2333 mln tonnes in september 1986
warburg said it reserves the right to buy more than 2500000 shares if the offer is oversubscribed but has no present intention of doing so
it said it hopes the appointment will thwart hostile actions being pursued by two unsecured creditors to whose claims the company objects
he said the government has finalised an agreement with edfman sugar ltd under which edfman will hold a buffer stock on the governments behalf of 20000 tonnes against the 45000 tonne buffer stock usually held by the department
cgee alsthom year to end december 1986
oper shr loss 20 cts vs loss 81 cts oper net loss 1042000 vs loss 4077000 revs 385 mln vs 503 mln 12 mths oper shr profit six cts vs loss 43 cts oper net profit 336000 vs loss 2176000 revs 1378 mln vs 2091 mln company corrects to show profit rather than a loss for current 12 mths oper shr and oper net
price details were not available
for 1985 the company posted a gain of 143 mln dlrs on the sale of 48 pct of abbey life
total m1 and local m1 year on year growth was 325 and 326 pct respectively
the most urgent problem now is the trade question because that has to be decided within the next 10 months clark told the commonwealth club of california
he said commodity operations deputy administrator ralph klopfenstein is currently in the midwest on a speaking tour and will meet with ascs oficials in kansas city next week
japan february current account trade surplus jump
ec oils tax canada corn ruling opposed by panel
santa fe energy partners lp sfp qtly payout
a decline in gas drilling and the time lag to bring gulf of mexico productions onstream will tighten gas supplies and firm prices shearsons tulis said
the market doesnt want to do anything because of the election commented an economist at a big us investment bank
james capel estimated cathays passenger kilometres flown last year rose six pct from 1985 and freight kilometres flown climbed 17 pct though the airlines load factor probably fell to 688 pct from 70 pct
the spot riyal was little changed at 37501 03 to the dollar after quotes of 37498 7501 yesterday
terms were not disclosed
the seasonally adjusted index for input prices showed a 02 pct rise between february and march
colombia opened coffee export registrations for april and may with the national coffee growers federation setting no limit gilberto arango president of the private exporters association said
charter crellin crtr to acquire sebro plastics
the dollar straight sector of the eurobond market ended easier after a subdued days trading as us banks began to match yesterdays surprise 1 4 point prime rate hikes by citibank and chase manhattan bank dealers said
a finance ministry official said the ministry has recently conducted a survey on foreign exchange transactions by institutional investors but declined to say if it was aimed at moderating their dollar sales
other sources said they expect the dialogue to continue
judges offer of 38 billion pesos is about five pct of the philippines yearly budget ariadnes philippine agent domingo panganiban was quoted as telling reporters yesterday
both tranches are non refundable for five years and rated baa 2 by moodys and bbb by standard and poors
leader ldco buys petrosurance stake
oper includes charge of 11 mln dlrs for cumulative effect of repeal of the investment tax credit for qtr and writedown of 216 mln dlrs on gas and oil facilities for 12 mths
analysts said the speculation also focused on american express selling 20 pct of the profitable brokerage firm to the public
1986 net includes tax credits of 165000 dlrs in quarter and 189000 dlrs in year
the tender offer is set to expire march 16
its not really that expensive
however sims said he did not expect any plywood exports to be including under the lumber guarantee offer
when the dollar was strong against the mark many porsches had been bought locally in west germany for illegal export to the us porsche has previously said domestic sales in the 1986 87 first half fell to 3267 from 5387 in the same 1985 86 period
the figure compared with a surpluses of 117 billion dlrs in 1985 101 billion in 1984 and 293 mln in 1983
the delegate said unless major producers like brazil showed readiness to negotiate new quota shares prospects for a quota accord in october also looked bleak
american motors corps board of directors is meeting this morning in new york to consider chrysler corps c 15 billion dlr takeover offer an american motors spokesman said
we feel very confident about raising our prices because we see demand over supply as being sustainable for some time said ian rugeroni alcans president of metal sales and recycling usa rugeroni said sheet and can bookings for alcan aluminium were up at a time when the companys total 11 mln tonne north american smelter system had less than a weeks supply
court blocks delta western airlines merger
interest expense strengthen the companys financial condition and increase operating flexibility it said in a release
hutchison and hongkong will indirectly hold 43 pct victor tk li will own nine pct and canadian imperial bank of commerce will have a five pct interest
theyve made bold moves to put everything in place
the dry period means the temporao will be late this year
some arbitragers said there is now some risk in the current price of piedmont since it is not clear that usairs bid will succeed
consolidated group net profit 188 billion francs vs 129 billion
the report said jardine which moved its place of domicile from hong kong to bermuda in the wake of the agreement to transfer the british colony back to china in 1997 was contemplating a similar move for hongkong land
wainoco said the offering will be underwritten by ef hutton and co inc kidder peabody and co inc and smith barney harris upham inc
uk confirms january sterling m3 rise
they are not worried about downside risk at all especially for junk bonds issued by well known companies said one portfolio manager
a savings department spokesman refused to comment on this interpretation saying the suspension of the issue was merely a reaction to the recent fall in uk interest rates which had pushed yields on national savings bonds way out of line with the rest of the market
some thought a price cut unlikely while others said there was room for a further 1 4 point cut by the bank
premier industrial corp pre 3rd qtr net
however bankers said one of the main points under discussion is a plan to refinance the bulk of the ecgds medium term credit portfolio in the international capital markets
french gdp should rise 23 pct in 1988 ministry
opecs production ceiling for the second half of 1987 is 166 mln bpd
bond media will be 50 pct owned by bond corp and is expected to be listed by the end of may it said
rpc energy services inc res 1st qtr sept 30
analysts said ballys health club units profits have remained strong but are skeptical about the industrys long range prospects
it said 11 of the new berths will be able to handle ships of more than 10000 tonnes three will handle containers and the expansion will enable the port to handle coke non metal mineral ores and mining equipment for the first time
nickel prices unlikely to rise much shearson
stone container said shareholders also have the right to convert any or all of the debt into common shares at the conversion price of 56 dlrs a common share or about 17857 shares for each 1000 dlrs of debentures and 893 shares for each series c share
the peak broke a steady trading trend of 15 to 17 billion dlrs a day seen in the second half of 1986
the paper said the price paid for corn from 14 northern provinces cities and regions has increased by one yuan per 50 kg
the paper said chinas crude steel output totalled 52 mln tonnes in calendar 1986 and that it plans to increase to 80 mln by 1996
work will begin on april 3 and the company aims to increase output to 10 tonnes within a decade to pay off pyongyangs 70 billion yen debt to 30 japanese companies li added
egyptian 1986 crude oil output down on 1985
investor disappointed at caesars caw response
borg warners chemical and plastics business provided 1986 operating profits of 1533 mln dlrs on revenues of 104 billion dlrs
bra kanon completed bilateral consultations with several delegations today on the main sticking points in the draft buffer stock rules package they said
in 1986 it cut about 850 positions
analysts said the gilts market may also be building steam on the political implications of the budget which suggests an early election
it also failed to secure soyoil for the same reason they said
the seasonally adjusted trade surplus fell to 916 billion dlrs in february from the record 958 billion in january the ministry said
west germany and japan had both pledged at g 7 meetings to boost domestic demand to help narrow the huge us trade deficit tanaka said
thailand reduces main rice crop projection
they also call for stepped up spending as an emergency measure to stimulate the economy despite prime minister yasuhiro nakasones avowed fiscal reform program
the partnership is controlled by marcus schloss and co inc a new york brokerage firm and prime medical products inc a greenwood sc medical supplies firm
in a memorandum backing its application presented to gatt last month china said it was gradually reforming its economic system and replacing mandatory instruction with guidance planning and economic levers
spectra physics said ciba geigy indicated at the time of the standstill agreement that it would not make an unsolicited takeover proposal for the company and that the intent of the agreement was that ciba geigy would not acquire more than 20 pct of the company unless there was another takeover threat
shr 556 dlrs vs 388 dlrs net 475 mln vs 332 mln revs 2545 mln vs 2435 mln note shr after preferred dividends itt corp itt owns 100 pct of itt canada common shares
the january figure was revised from a preliminary 15482
senior central bank officials suggested to reporters last week that the foreign exchange ceiling will be lowered to discourage banks use of excess funds for currency speculation
american telephone and telegraph co chairman james e
earlier this week some 65000 dockworkers cancelled a scheduled national strike to pressure port officials to give them a wage increase and other benefits
ph glatfelter glt acquiring ecusta
computer memories inc said its board has decided to take additional time to evaluate the impact of litigation on the proposed acquisition of hemdale film corp computer memories said it plans to adjourn its annual shareholders meeting scheduled for october 23 after it is convened
oil analyst sees papua new guinea as good prospect
outokumpu group had a 1986 loss before appropriations and taxes of 83 mln markka after a profit of 355 mln in 1985
primary dealers are considered an elite group of firms because they are approved to purchase us treasury securities directly from the feds agent the federal reserve bank of new york investment bankers explained
the iwc 1986 87 estimate for world trade in wheat and coarse grain is thus estimated two mln tonnes higher at 173 mln against 169 mln the previous season with the forecast three mln rise in soviet imports offset by small reductions elsewhere
currently us growth is fragile and depends heavily on an improvement in trade
for the stock north american coal will receive about 152 mln dlrs 52 mln of which will be paid at closing april 10 and the rest in installments the company said
last week williams reported that pretax profits for 1986 rose to 229 mln stg from 63 mln
baker said those nations were stimulating their economies in a manner consistent with gains against inflation
one of the main architects of the pins proposal us lawyer lee buchheit is adamant that the banks have nothing to worry about
there has definitely been an evolving mind set from the situation of slow grain buying a couple months ago to one of frenetic buying now the official said
if a default does occur it would first quarter earnings by about five cts a share which would bring the banks in the lower level of the estimated range he added
existing credit lines were used only to a small extent and the parent company had been granted a new credit line of 200 mln francs from a consortium of swiss banks that would cover most of the loans falling due in 1987
the notes are to be sold in three equal sized issues of 50 mln dlrs
he said governments must retain flexibility in dealing with exchange market pressures and efforts to establish rigid exchange rate objectives or to specify too precisely the goals of intervention would hurt official attempts to react to market pressures he said
latest year net includes gain from sale of interest in fort worth texas shopping center of 9500000 dlrs
the prv committee received results of a three year five state pilot project which had a 975 pct success rate in eradication of the disease within 116 hog herds
he told les echos he aims to reduce the 1988 budget deficit to 115 billion francs from this years figure of 129 billion and compared with a 141 billion deficit in 1985
new applications for unemployment insurance benefits fell to a seasonally adjusted 338000 in the week ended march 28 from 355000 in the prior week the labor department said
sen
australia and new zealand banking group ltd anzas said it will make a one for two bonus issue from its asset revaluation reserve to shareholders registered june 2
iomega corp said it has laid off over a quarter of its professional and management staff and nearly half of its direct labor force as part of a restructuring and downsizing of its business
the tender offer and merger are subject to customary conditions and expiration of the hart scott rodino notification waiting period they said
the independent directors said they will engage an expert to evaluate the fairness of the offer
the ration system had also not had the stabilising effect on the internal wheat market that was intended aziz said
many analysts in the private sector are now paying less attention to the figures presented in the budget and are using their own estimates of expenditure to draw conclusions for the money and capital markets
soares who is expected to announce a decision by the end of the month can either call early elections or form a new government from parties in the existing left wing dominated parliament
however analysts said the bank of england will need to be convinced that the present rise is a fundamental re rating rather than a result of short term speculative gains
within these constraints economists believe du plessis has little room to manoeuvre
it carries a 1 1 8 pct margin over libor with a seven year maturity and four years grace
each of the 17 current foreign securities houses in the syndicate underwrites 007 pct of each issue they said
norstar nor sets acquisition for stock
brazilian finance minister meets stoltenberg
we dont intend to put pressure on them he added
venezuela may ask imf for credits
the company said the transaction would reduce cornings ownership in rigolleau to approximately 20 pct
i hope it will persuade them were serious smart said of the white house trade sanctions
deutsche bank finance nv curacao is issuing a 100 mln australian dlr eurobond due may 14 1990 paying 14 1 8 pct and priced at 101 1 4 pct lead manager deutsche bank capital markets ltd said
the cost of living in north rhine westphalia germanys most populous state fell 01 pct in the month to mid march to stand 05 pct lower than at the same time a year earlier the regional statistics office said
simex is also enjoying record trading in other contracts
the maize import target for calendar 1987 is set at well over 34 mln tonnes compared with an actual 307 mln in 1985 he added
the ministry said the fresh allocation for the february 27 july 7 shipment period is the third under a maximum 55 mln tonne overall quota that thailand obtained from the ec for calendar 1987
sales of wheat and corn to the ussr for delivery during the fourth year of the agreement totaled 8182500 tonnes 4080500 tonnes of wheat and 4102300 tonnes of corn
the more you look at ways to expand export markets the more you have to look at ways to expand certs to put more grain into the market to meet demand he said
the non callable bond is available in denominations of 1000 and 10000 canadian dlrs and will be listed in luxembourg
stansbury mining stby gets funding for mine
australias keating changes economic forecasts
the letter also said the general acquisition offer jeopardizes the security and interests of its shareholders employees customers suppliers and the communities throughout the country where the companys facilities are located
the executive board has limited its current discussions to administrative matters and is set to adourn thursday
but haq said now the private sector would also export cotton and rice along with the corporations which meets a long standing demand of the local traders
it also said rafael collado has assumed the positions of president and chief operating officer in addition to his role as chief executive officer
the unusual situation on the crude oil market last year also produced a clear sales slide in the oil and gas sector and forced price declines for petrochemical products basf said
final terms will be fixed on or before april 8
marine midlands oneill said pressure will build up on germany to take stimulative action like japan some japanese bank dealers warned that although the dollar could hold above 145 yen for some months it could also come under attack again if it seems the latest economic package is not having much impact on japans economy and its trade surplus
pakistan to tender for rbd palm oil
belgian minister sees new accord on ec oils fats
the international consumer business will show 22 pct compound annual growth in earnings between 1986 and 1992
the fed said that banks net free reserves averaged 603 mln dlrs in the two week statement period that ended on wednesday versus 749 mln dlrs in the previous period
lured by the weakening dollar and the conviction that oil prices are poised for a rebound european energy companies are buying up cheap us oil and gas reserves to replenish their supplies oil industry analysts said
the ministry said the estimate for the 1986 87 years supply of domestically produced sugar was revised to 881000 tonnes from the earlier estimate of 863000
the merger agreement was announced earlier this week
the talks will include an examination of trade protectionist pressures in the wake of a decision by the reagan administration to place some 300 mln dlrs in tariffs on microchip products from japan the sources said
the import price index rose 11 pct from a month earlier to 574 for the sixth successive month on month gain mainly due to the continued strength of world crude oil prices
uk money market given 265 mln stg assistance
ef hutton efh starts purolator pcc bid
chicago board of trade cbt agricultural and financial futures markets could be in for a period of major upheaval later this year if the exchange goes ahead with planned renovation
s and p also said the outlook for firm sales growth is positive because of a vibrant regional economy
to contain such a currency crisis dollar interest rates would have to soar bringing recession and a third world debt crisis it said
now its largely out of their hands said kleinwort benson ltd financial analyst simon smithson
the ministers of industry and communication and transport had both been relieved of their posts the news agency said
aritech corp arito 3rd qtr oct two
new zealand has imposed sanctions against fiji in response to that countrys change of status to a republic acting prime minister geoffrey palmer said
the issue is available in denominations of 1000 and 10000 australian dlrs and will be listed in luxembourg
farmers can place soybeans under the loan program if they sign up for reduced acreage but they have no price guarantees
windy weather followed to dry fields and limit planting delays
the rate on the shorter term floater will be reset quarterly at 55 basis points over three month libor while the rate on the longer tranche will be reset at three month libor plus 65 basis points
oilmeal demand still strong in us soviet union
there will also be an investor put option annually at par
the dutch current account surplus fell 54 billion guilders last year to a provisional 121 billion guilders the finance ministry said in a statement
herrington said he understood the reagans reluctance to amend the newly enacted tax code to fund some of these proposals but added he hoped his departments energy security study would make a strong case for the need to help the struggling domestic oil industry
the lower psbr means the bank of england will have to offer far less new stock to the market to meet its funding needs and the scarcity factor is sure to drive prices up further analysts said
cayacq an investor group led by audio video affiliates inc and citicorp raised the value of its offer from 80 dlrs per cyclops share on friday
taiwan said considering currency liberalisation
rubber prices particularly crepe fell sharply by about four rupees a kilo between december and march
if import propensity does not expand very soon there is a real risk from protectionist lobbies particularly in the us with whom japan has so massive a surplus he said
usda puts march 1 us wheat stocks at 2253143000 bu
proponents say a secondary market also would increase liquidity in farm lending and spread the risk of such loans
more details would be given later by greek industry undersecretary george petsos who was in moscow
the fundamental keys to the pounds rise have been relatively high uk interest rates and a vague optimism surrounding the british economy analysts said
he said he was also concerned by the decline in domestic oil exploration
although a handful of frn market makers were expected to remain on the sidelines for the time being dealers noted a tangible return of retail interest from the far east lured back by extremely attractive yields and bargain prices
although many european banks were opposed to the use of interest capitalisation this was an alternative which has to be brought in sarrazin said
whites tenders are scheduled for next wednesday by syria for 36000 tonnes and greece for 40000 tonnes while pakistan is due to tender on april 11 for 100000 tonnes whites they said
bramall shares were trading 6p lower at 278p
thailand exported 123 mln tonnes of rice in january march down from 129 mln tonnes a year ago
it said the 38 pct interest was sold by westwood funding corp a wholly owned subsidiary of combustion engineering inc csp westwood funding retains an interest in the partership and serves as a general partner it said
and they did a lot better in the second half of the year estimates of profits from the firms wholly owned swire properties ltd unit range widely from 500 mln dlrs to 700 mln compared with 570 mln dlrs in 1985
there will be an underwriting margin of up to of 3 16 pct over the london interbank offered rate
reserve money the total available to monetary authorities was a provisional 5258 billion pesos at the end of 1986
general electric ge to buy kraft kra unit
unocal corp is raising 450 mln dlrs through a two tranche offering of notes said lead manager merrill lynch capital markets
analysts said the bank had also been helped by a reduced need to write off bad debts
ecuador had recently been pumping 260000 barrels per day
honeywell bull said it will continue to develop its product line and build its business in integrated systems for networking database management and transaction processing
there will be a facility fee of 3 16 pct
as reported separately soon after announcing the delhi sale csr launched a takeover bid for the 6826 pct of pioneer sugar mills ltd that it does not already hold valuing its entire issued capital at 2196 mln dlrs
bob smith r ore does not require the administration make an offer but urges such action
the order requires that until 1989 cooper must get ftc approval before acquiring companies in the natural gas compressor or hand held industrial pneumatic tool businesses
on full conversion the issued ordinary share capital of the company would increase by some 64 pct
shr 21 cts vs 10 cts net 10798000 vs 4704000 revs 474 mln vs 329 mln year shr 58 cts vs 54 cts net 291 mln vs 258 mln revs 1877 mln vs 1347 mln note 1986 net includes 28 mln dlr extraordinary gain in 4th qtr and 65 mln dlr fl yr extraordinary loss involving provision for decline in market value of marketable securities partly offset by gain from sale of stake in dome petroleum ltd dmp
the open pit oxide ore reserves of alligator ridge will be exhausted by august 1987 as expected when the work force will be reduced to about 72 from 127 the company said
the company said third quarter earnings will be released in the latter part of april
but finance department documents show the pace of deficit reduction was expected to slow temporarily in fiscal 1989 and 1990 as a result of lower oil and grain prices and the transition to the reformed taxation system
as of march 13 renouf said about 3847375 units had been tendered
shr 96 cts vs 83 cts net 1193 mln vs 1028 mln revs 101 billion vs 8699 mln nine mths shr 253 dlrs vs 201 dlrs net 3136 mln vs 2485 mln revs 283 billion vs 252 billion note 1986 nine month earnings include nonrecurring loss of 99 mln dlrs or eight cents a share from purchase of 1237 mln dlrs principal amount of the companys 150 mln dlr 12 1 4 pct debentures due february 15 2015
the federal reserve is expected to enter the us government securities market to add reserves today economists said
lone stars one sentence statement gave no further details and company spokesmen were not available
at the same time 48 pct of the congressmen surveyed opposed the fee with the respondents saying the tariff would hurt consumers and some regional interests
nihon keizai said japans plan resulted from worries about mounting trade tension with the us at the gatt talks japan will try to persuade the us that its rice policy is justified it said
the qtr and year 1986 includes charges of 1200000 and 5200000 respectively for restructuring costs and operating losses which were charged against the previously provided accruals for restructuring costs
earlier today diplomats said belgium the current holder of the european community presidency appears ready to drop the plans for the controversial oils and fats tax
safeway also said the transaction is subject to bormans ability to obtain financing and to successfully negotiate new labor agreements with the various unions involved
moreover as the first major package built on us treasury secretary james bakers strategy of offering loans to countries willing to implement market oriented pro growth policies intense market scrutiny was only to be expected
house ways and means committee chairman dan rostenkowski said he would be reluctant to back the tax increase if it did not have president reagans support
paul volckers resignation as federal reserve board chairman creates a serious leadership vacuum at a time of deep uncertainty about the future management of the third world debt crisis bankers said
api says distillates off 195 mln barrels gasoline off 398 mln crude up 242 mln
us economic data this week could be the key in determining whether us interest rate futures break out of a 3 1 2 month trading range financial analysts said
but as it will not be able to draw on surplus stocks this year man estimates cubas export availabilty will be reduced to 64 to 65 mln tonnes
hawaiian electric said it plans to operate the comapny which has 226 employees with current management
wtd industries inc said it filed with the securities and exchange commission a registration statement covering a 30 mln dlr issue of senior subordinated debentures due 1997
this is amore realistic approach because the metals market is a 24 hours market and prices can move without limit oneill said
danish wholesale prices fall 05 pct in february
its permanent health insurance was now the market leader and its unit trust group was now the second largest in the uk eagle star general premiums rose 32 pct to 103 billion
the mint uses mainly newly mined us gold for the coins as long as this is available at market prices
the coins will be the first ever denominated in the ecu the basket comprised of the 12 nation european communitys currencies except the spanish peseta and the portuguese escudo
for qtr and nine mths 1987 exchange rate fluctuations had a favorable sales impact of 259 mln dlrs and 703 mln dlrs respectively
there is concern that the action prompted by us charges that japan has been selling computer chip products below fair market value and has kept its own market closed to imports further undermining the international trading system
the proceeds will be used to refinance and retire debt and other general corporate purposes the company said
the sale of gelco express canadas second largest courier service is part of the parent companys strategy to repay 350 mln us dlrs of debt by the end of 1987 the report said quoting a gelco spokesman
james hardie industries ltd hahas yr to march
it is moving forward with market development and is enhancing market share beall said of allen bradley unit
the commodity credit corporation ccc has reallocated 50 mln dlrs in credit guarantees previously earmarked for sales of us wheat to provide coverage for sales of us vegetable oil to bangladesh the us agriculture department said
delegates would not speculate on the prospects for agreement at this time
but there was extensive damage to the central part of the 32000 bpd hydrocracker which upgrades heavy oil products to gasoline and it will be out of operation for some months
tenneco holds natural gas reserves estimated in excess of 35 trillion cubic feet analysts said
the number of goods producing jobs fell 68000 in march while service producing jobs rose 232000 to bring the total jobs in the departments survey of businesses to 10203 mln in march
it said a five year 355 billion dlr us defense contract was awarded shortly after the close of the first quarter
the federal reserve is expected to intervene in the government securities market to add reserves via two to 25 billion dlrs of customer repurchase agreements economists said
robertson colman and stephens co managed the deal
harley davidson hdi unit files note offering
start up went well today and operations will continue to pick up as employees return and others are hired according to a company statement
the agreement also incudes the right to buy gms canadian transit bus and parts business contingent on a satisfactory labor agreement
lilly lly cuts liposome co lipo stake
novamin says it received proposed takeover bid from breakwater
it set up international farm corp of america in chicago last september to oversee the operation
the package was expected in april but debate on the budget has been delayed by an opposition boycott of parliamentary business over the proposed introduction of a sales tax
one of the assumptions of the government is that if you give them freedom the employers will invest and modernise but nine out of ten will say yes they like freedom and then wait to be told which way to go he said
primary industries minister lim keng yaik said in a statement that malaysia wants to continue with a second inra and is prepared to accept modifications that would strengthen the present agreement
sallie mae said it will enter into a separate currency exchange agreement to convert the principal payment at maturity from australian dollars to us dollars
us business loans rise 377 mln dlrs
franco nevada said it has a four pct royalty plus a five pct net profit interest on the acreage
tokyo exchange allows more gold and rubber brokers
within the world there are enormous changes taking place in attitudes of different banks he said the banks were no longer flush with funds from the post 1973 oil boom and were reluctant to lend money
japan set to ride out yen rise officials say
theyre all lower he said
varian var buys analytichem international
large banks those with assets of one billion dlrs or more reporting fourth quarter losses totaled 22 the fdic said
wisconsin electric wtc offers preferred
a committee of the national association of broadcast employees and technicians discussed the offer but after three hours they had not come to any decision
however the letter also allowed room for an extension of that date to april 23 if an agreement could not be reached
prime minister yasuhiro nakasone will make an official week long visit to the united states from april 29 and hold talks in washington with president reagan chief cabinet secretary masaharu gotoda told reporters
1985 is for eight mths ended dec 31 1985
no date was established for the renewal of payments
salomon brothers international inc said it has raised the size of its collateralised mortgage obligation trust 23 to 350 mln dlrs from the 228 mln dlrs announced yesterday
ronald perelman head of revlon group inc rev may be trying to ignite a bidding war for gillette co that could draw some big international players and in the process make a lot of money for himself wall street analysts said
speaking at a house foreign agriculture subcommittee roberts said the us has offered eep to china and poland and should also include the soviet union
us energy industry said in better health
the agreement calls for cascade to have the rights for the manufacturing and trading of perfumes skin care and treatment products and cosmetics of the group it said
non callable for seven years the issue is rated a 2 by moodys investors service inc and a by standard and poors corp
the average price of rice fell 27 pct cotton was down 22 pct corn 18 pct wheat 16 pct and soybeans nine pct
zaire pointed out that during four years of imf backed austerity 1983 86 it had become a net exporter of capital without receiving appropriate financing from abroad
each note will bear interest at a fixed rate or variable rate formula established at the time of issuance society for savings said
the company said conditions of the offer include the receipt of at least two thirds of purolators shares outstanding on a fully diluted basis and the repeal of its share purchase rights plan
as of the present time the average interest rate on the financing which we proposed to raise in connection with the acquisition has increased since the original proposal by approximately 150 basis points he said the group intends to promptly review all available options including the revision of its offer to reflect current market conditions
data general dgn to take 2nd qtr charge
the february rise in production was aided by a sharp 19 pct increase in construction output compared with january when production in many industrial sectors was depressed by unusually severe winter weather
adams russell electronics co inc said it has acquired hermetronics plc a maker of hermetic integrated circuit packages for about 600000 dlrs
anacomp inc said it acquired the common stock of datagraphix inc from general dynamics corp gd for about 128 mln dlrs
speculation a clearing bank might break ranks and lead the way lower were confounded today
firm has 148 pct of decision capital fund dcf 
ashland oil inc said it expects to report a loss from operations in the second quarter
the bank creditors advisory committee led by manufacturers hanover trust co rejected the concept as it was originally drafted but the counter proposal made on friday contains a revised version bankers said
one japanese investor took 50 mln guilders alone a dealer said
lajous said there was still excess supply and as long as this remains there will be a tendency to instability in oil markets but prices should remain around 18 to 19 dlrs during 1987 if output remains under control
group trims material sciences msc stake
mutual of omaha interest shares muo qtly div
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
genzyme said that since 1985 it has entered into several licensing agreements for the technology with amylase test kit makers
qtly div 10 cts vs 10 cts prior pay may 13 record april 29
greenspan says there is evidence dollar has bottomed out
payment date is april 24 and there will be a long first coupon
net includes loss 294000 dlrs vs nil in quarter and gain 2248 mln dlrs vs loss 1750000 dlrs in year from settlement of liabilities under plan of reorganization from chapter 11 bankruptcy
its shares closed off 1 3 8 at 21 1 8 as about 84400 shares changed hands
the japan tourist bureau estimates endaka caused an 115 pct drop in the number of foreign visitors to japan last year
the other two saw only one pct growth and said exports would fall 25 pct
fidelity national financial inc said its fidelity national title insurance co subsidiary acquired the operations of safeco title insurance co in the northern california counties of alameda contra costa and san mateo
the new price for unalloyed ingot will be 645 cents a lb while the new price for extrusion billet will be 725 cents a lb
the program was arranged by kleinwort benson ltd which will act as a dealer along with morgan grenfell and co ltd and swiss bank corp international ltd
lucht will continue to function as a unit of innovex innovex said
shr loss nine cts vs profit 35 cts net loss 299000 vs profit 1025000 sales 9704000 vs 9659000 avg shrs 3792138 vs 2892138 year shr profit one ct vs profit 58 cts net profit 45000 vs profit 1705000 sales 254 mln vs 178 mln avg shrs 3567138 vs 2892138
qtr ended jan 31 net 553 mln dlrs vs 517 mln dlrs revs 4191 mln vs 3917 mln note revs include investment and other income of 184 mln dlrs vs 185 mln dlrs
thai coffee exporters said they hoped the international coffee organisation ico would not reimpose export quotas even though this may lead to a further slump in world prices
coopervision inc eye qtly dividend
shr 40 cts vs eight cts net 2292000 vs 465000 revs 819 mln vs 789 mln nine mths shr 120 dlrs vs 101 dlrs net 6842000 vs 5755000 revs 2447 mln vs 2342 mln note 1986 qtr and nine mths includes loss 2223000 dlrs or 39 cts per share from unspecified extraordinary item
shr 37 cts vs 50 cts net 2776000 vs 2756000 sales 469 mln vs 388 mln avg shrs 7508000 vs 5550000 year shr 58 cts vs 55 cts net 4021000 vs 3005000 sales 1259 mln vs 1128 mln avg shrs 7090000 vs 5500000
a spokeswoman for the company said that the early morning dynamite attack was the 31st in the last nine months on the cano limon covenas pipeline which links colombias biggest oilfied at cravo norte to the caribbean
assistant us treasury secretary david mulford said yesterday that the reluctance of these banks had nearly jeopardized the deal at one stage
ec commission details sugar tender
honeywell bull chairman jacques stern who is also chairman of bull said he believed the computer industry could be a fast growing market for companies that provide the type of computers customers want
grain traders said a large part of the tonnage on offer was in stores which would mean high transport costs to deficient areas
frn traders noted japanese investors initially enthusiastic floating rate debt buyers had lost confidence in the market and speculated that a crisis meeting such as the one called upon the collapse of the perpetuals could be imminent
the facilities will be established to serve japanese and domestic automobile and appliance parts manufactures in the us the company said
first financial management corp said it has offered to acquire comdata network inc for 18 dlrs per share in cash and stock or a total of about 3427 mln dlrs
but they noted that mis match deals issues whereby the coupon is re fixed on a monthly basis were firmer
oil accounts for 60 per cent of its export income
bill englebright joint secretary of the lpfa said there is a two tier market for physical potatoes
erbynn is likely to present fleshed out details of the buffer stock rules proposal to the working group early tomorrow delegates said
mthly div eight cts vs 71 cts prior pay april 30 record april 15 note franklin high yield tax free income fund
the remaining gold is taken either from us treasury stocks or from the open market pope said
advanced tobacco atpi merger talks end
nestle said the final agreement subject to required approvals would be signed shortly
while the belgian government has made progress in trimming its borrowing requirement it will probably be insufficient to check the self sustaining nature of the deficit the oecd said
financing agreements were reached recently with chile and venezuela an accord with the philippines seems to be close at hand and a deal with argentina on new loans and a debt restructuring could be reached in the next two weeks bankers say
net includes tax credits 5738000 dlrs vs 494000 dlrs in quarter and credit 4194000 dlrs vs provision 112 mln dlrs in nine mths
the firms would have to buy the bonds between april and december 1987
avatar holdings avtr offering rights to notes
drilling increases were reported by michigan up by five rigs and ohio and pennsylvania which each rose by three
shr 83 cts vs 75 cts net 3053000 vs 2775000 assets 12 billion vs 10 billion deposits 8518 mln vs 7541 mln loans 9125 mln vs 7981 mln
it said it expects 1987 north american heavy duty truck production to total 135000 units an 85 pct increase from 1986
the commissioners came away from the friday meeting with an informal agreement to respond to signs of flexibility among producers on the key buffer stock issues delegates said
the february year one year rise was 40 pct compared with a 39 pct rise in januaryr
the management group includes banque paribas luxembourg kredietbank sa luxembourgeoise and banque de luxembourg sa
volckers letter was written march 24 in advance of the committees march 25 approval of the proposed legislation
phelps dodge which ranks as the largest copper producer in the us last year paid 240 mln dlrs for columbian chemicals co a maker of carbon black which is used in rubber and tires among other products
the bank of italy took up a total 4200 billion lire of the remaining six and 12 month paper leaving 1118 billion lire unassigned
chicago dock and canal docks 3rd qtr net
saudi arabian business leaders assembled for a conference aimed at thrashing out problems facing the private sector of the kingdoms oil dependent economy
chase said the offer for the remaining 276 pct of entregrowth worth 342 mln dlrs involved the issue of 580 mln chase shares and 310 mln chase options
a mine official said that the fire broke out last night and about 25 of the miners made it to safety
bond corp completes consolidated press purchase
the possibility that recent indonesian palm oil purchases will not actually enter the country but be transshipped to other countries to fulfill indonesias export orders cannot be ruled out it said
the spokesman said paemen will continue as chief spokesman until the retirement on may 1 of paul luyten who is now in charge of ec departments handling negotiations in the world trade body gatt the oecd and other forums
the cardenas letter responded to a us letter last month which praised colombia for trying to find a compromise formula for the reintroduction of quotas but outlined several concerns with the technical details of the colombian plan
the company said it is also submitting to shareholders at its may 21 annual meeting a proposal authorizing an additional class of common stock
dominican alfredo ricart will take over as executive director of the international sugar organization iso in mid april iso officer in charge constantin politoff said
but lawson told funaro brazil had to solve its problems with the banks rather than governments
northern trust corp said it filed with the securities and exchange commission a shelf registration statement covering up to 150 mln dlrs of debt
net in qtr 1987 vs 1986 includes provision for possible crit losses of 320 mln vs 431 mln
holiday hia recapitalization approved
the future of the us soviet long term grains agreement will be discussed the first of next year lyng said but the agriculture secretary questioned the benefits of the long standing agreement
the santos group stakes will rise to between 525 and 70 pct of the four atp259p blocks as a result of the purchase
white sugar denatured and non denatured 5194 versus 5136 previously
american express ambitious plans for international growth may be also enhanced by the added cash that spinning out part of shearson would bring
it said the increase is in addition to a previously announced seven cts a pound solids increase effective march one
s and p assigned an a rating to the companys 200 mln dlrs of convertible exchangeable preference stock and affirmed its a plus senior debt and a 1 commercial paper
it has said the auctions were suspended because it planned to introduce a modified system after talks with the world bank and the international monetary fund
if exporters or importers can raise funds in yen they will be more willing to agree to using the japanese yen as a settlement currency he added
colombia has no intention to give its coffee away he added
industrial equity pacific ltd a hong kong based investment firm leading a group holding 191 pct of calmat cos common stock said it intends to submit to calmat a proposal for a possible business combination
higher world oil prices coupled with a new realism ushered in by austerity could lift saudi arabias economy after five years of falling revenue and growing budget deficits bankers and diplomats said
morgan stanley mortgage trust a unit of the morgan stanley group is offering 31387 mln dlrs of collateralized mortgage obligations cmos in seven classes
penril pnl seeks to sell two units
washington has threatened to take retaliatory action after april 1
louis based harvard industries a manufacturer and distributor of automobile supplies held 80 pct of hayes following completion of a 13 dlrs a share cash tender offer in december
it is also distributing a new product called sapiens which is artificial intelligence computer language for use by major corporations
laidlaw declares three for two split boosts payout to 5 1 4 cts shr from four cts
each of the five locals have separate contracts all of which expired april 30 but the main issues are similar
another stumbling block would be encors 225 mln dlr joint liability in loans to dome petroleum advanced by arctic petroleum corp of japan for beaufort sea exploration
west germany also opposed to the oils and fats tax will advise the meeting formally later today it cannot countenance other proposals that could hit german farmers they added
interest received on loans was low with the prime rate at 65 pct at end 1986 but interest paid on savings was two pct
they said the facility which will be syndicated among a small group of the borrowers relationship banks is being put in place ahead of the privatisation of rolls royce in april or may
john spika said the number of people who have developed the chloramphenicol resistant infection in los angeles county alone jumped from 69 in 1984 to 298 the following year
fannie mae said the swap includes 15 year mortgages for fannie mae stripped mortgage back securities that bear a nine pct coupon
its new currency the european currency unit ecu has been a runaway success with investors and borrowers alike seeking an alternative to the volatile dollar
templeton energy inc tmpl 4th qtr net
leader said it already owns 125 pct of petrorusrance and conversion would give it about 450 pct
sandsport data services inc sand 3rd qtr net
the purchase price is about 125000 dlrs
swedens trade surplus rose to 36 billion crowns in february from 15 billion in january and 348 billion in february 1986 the central bureau of statistics said
mulford rejected congressional ideas for a debt facility as being far too costly to creditor governments and ultimately taxpayers
nigerias early march output was about one mln bpd down from 114 mln bpd in february and its quota of 1238 mln bpd
qtly div 14 1 2 cts vs 14 1 2 cts prior pay june one record april 24
honduras seeks pl480 vessels for tallow delivery
fed approves chemical new york chl merger
but some heavy rain may have caused damage
us secretary of state george shultz said the 6000 billion yen economic package announced by tokyo last week went further than the us had expected
hosposable products inc hosp 4th qtr net
shr 37 cts vs 37 cts net 687888 vs 441659 revs 79 mln vs 68 mln nine months shr 112 dlrs vs 107 dlrs net 18 mln vs 13 mln revs 232 mln vs 197 mln avg shrs 16 mln vs 12 mln notefull name is scott and stringfellow financial corp
discussing the status of other parts of bolivias four billion dlr foreign debt 25 billion of which is owed to governments and the rest to international agencies nogales said negotiators had achieved considerable success in recent discussions with the paris club
worthington industries inc wthg 3rd qtr net
madrid estimates that it needs to import 17 mln tonnes of maize this year while an ec us accord guarantees non ec producer sales to spain of two mln tonnes of maize and 300000 tonnes of sorghum annually for the next four years
they said that to expand participation by foreigners the syndicate must either expand the securities industrys 26 pct share cut local brokerages share or introduce auctions to the government bond primary market the sources said
most have maturities of 10 years or less and were issued before 1984 the spokesman said
merrill lynch and co said investment banking revenues were strong in the first quarter rising to 2574 mln dlrs from 1529 mln in the first quarter 1986
adsteam rights issue to raise 228 mln dlrs
gold 471 billion 490 billion and 383 billion sdrs 503 mln 524 mln and 468 mln imf reserve position 354 mln 365 mln and 312 mln us dollars 325 billion both 399 billion other foreign exchange 378 billion 407 billion and 432 billion
i am sure that with 17720 marks the dollar is still within the louvre agreement
mortgage growth investors mtg 1st qtr feb 28
maytag co said it expects capital spending in 1987 to increase to about 60 mln dlrs from 49 mln dlrs in 1986
cutting the maximum levy rate to 70 pct would create higher levels of self sufficiency increase government revenue boost exports and provide incentives for exploration and development he said
companies mentioned in market speculation as potential buyers for dome include imperial oil ltd imoa which is 70 pct owned by exxon corp xonn pancanadian petroleum ltd which is 87 pct owned by the conglomerate canadian pacific ltd cpn and british petroleum co plc bpl along with the transcanada offer dome has had another proposal from a substantial company and discussions with a third company which could lead to an offer dome said in a statement
barbados is making its annual trip to the international capital markets a bit earlier this year and has mandated barclays bank plc to arrange a 25 mln stg revolving credit barclays said
a new computer code named fort knox was supposed to tie together a number of ibms mid range systems but the product never got off the ground he said
tokyo has denied the charges
bolivias top union leader joins miners fast
the national pork producers council nppc will receive almost 18 mln dlrs for use in the areas of food service consumer education and marketing
japans long term banks will soon cut their prime rate now at a record low 55 pct by 02 or 03 percentage point in response to falling secondary market yields on their five year debentures long term bankers said
us officials said both schemes are regarded by the administration as providing debt relief
1986 qtr and nine mths includes gain 6233000 dlrs and 155 mln dlrs respectively from utilization of net operating loss carryforward
oper shr 64 cts vs 52 cts oper net 872272 vs 706836 revs 9271541 vs 7744466 year oper shr 203 dlrs vs 196 dlrs oper net 27827801 vs 2684089 revs 312 mln vs 291 mln note full name is north west telecommunications inc
exxon xon gains due to streamlined operations
however he said he would prefer to leave the tax rates enacted in last years tax reform bill unchanged
the partnership said it will terminate before august 3 1987
south african mutuals lee believes government spending will again exceed the budget target and increase to around 49 billion rand this year leaving a deficit of between 5 and 55 pct of gdp compared with a three pct limit suggested by the imf
barwon said it was represented by australian stockbroker jacksons ltd which forwarded a formal offer to philippine president corazon aquino of 100 pesos for each of the 381 mln a and b shares of san miguel
the governor of west flanders province said 240 people were still unaccounted for
refined copper stocks held by us refineries fell to 109200 short tons at the end of january from 145400 short tons at the end of december the american bureau of metal statistics reported
chemlawn corp said it is talking with new suitors about being acquired
sucre figarella told a news conference the cvgs 12 companies showed an overall increase of 120 pct in profits which rose from 1732 billion bolivars in 1985 to 3926 billion bolivars last year
the bank has loaned indonesia 107 billion dlrs over the past 20 years
kingsbridge masco set merger
kenai ken sets note offer avoids chapter 11
the bill sponsored by senate energy committee chairman bennett johnston also repeals mandatory incremental pricing of natural gas which was designed to protect residential consumers from major price increases by forcing some industrial users to pay higher than market prices
bundesbank vice president helmut schlesinger said today there was no reason to cut interest rates because money supply growth had shown no signs of slowing in may and the dollar was stable against the mark
aside from holiday inns and new world pictures i cannot remember the last time an issue was downgraded so soon after the pricing remarked one corporate bond trader
the exchange said it contacted the company and requested that loral issue a public statement indicating whether any corporate developments would explain the unusual activity in its stock
roses operates 224 discount stores as of february 1987 compared to 208 stores a year ago in 13 southeastern states
teledyne inc tdy owns about 984 pct of unicoas outstanding shares
gaspe mines is the name of the noranda division that operates the murdochville mine
louis businessmen
brown group inc 4th qtr shr 77 cts vs 76 cts
chimbote kaohsiung 9500 mt bulk bagged fishmeal 250 ph 200 ph 20 4 5 5
japanese net purchases of foreign securities in the first half of march fell an estimated one billion dlrs compared with average monthly net purchases of 77 billion for the whole of 1986 finance ministry sources said
vulcan vul withdraws jones vining jnsv bid
saudi rates rise as bahrain banks caught short
qtr and year 1986 excludes tax loss 1557000 and loss 151000 respectively
but he stopped short of reaffirming the original us position that veto power should exist with a 35 pct vote
it said the market will in its first phase trade four bonds two issued by banks one by a well known city bicycle factory and one issued by the city government to finance construction of a road
weis markets inc said its board declared a three for two stock split for holders of record may 1 1987 with a distribution date of may 22 1987
yesterday frank hoenemeyer a retired vice chairman of prudential insurance co and currently a purolator board member said an initial offer from hutton was rejected by the board of directors february third
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
delors quoted favouring franco german bid for cgct
tin pact extension likely itc delegates
the spokesman said this would enable distribution of flour semolina sugar and olive oil at a relatively high rate next month
oper shr 24 cts vs 19 cts oper net 1096332 vs 794711 revs 803085 vs 442420 six mths oper shr 53 cts vs 43 cts oper net 2375844 vs 1741437 revs 1471257 vs 768683 note prior year excludes income from discontinued operations of 19 cts per share in the quarter and 17 cts per share in the year
ecuador had enough oil to meet domestic demand for about 35 days and would have to import crude to supplement stocks
vernitron which manufactures electromechanical components and related products and services said it expects that a special meeting of shareholders will be held in august
lear siegler holding to divest aerospace unit
the banks are anxious to know the situation on debt payments but we can only tell them we are waiting for a government response to our proposals he said
non performing loans at quarter end are estimated at 145 billion dlrs or 65 pct of the loan portfolio compared with 928 mln dlrs or 394 pct at the end of 1986
another is expected to load 20000 tonnes of colza for the soviet union
there is no need to react to every small fluctuation in commodity prices or to do so on a daily basis heller said in a prepared text
trump agreed not to buy any more bally stock or to try to seek control of the company for 10 years it said
annual div four cts vs 176 cts pay march 20 record march 15
in 1985 more than 200 were feared dead after two ferries sank near dhaka 174 drowned when a ferry capsized in china and 147 died when a launch sank off the malaysian state of sabah
in february the figures were 24 pct 22 pct and 54 pct respectively
im among those who believe the g 6 have a plan behind the scenes horner said
apart from the french plant these include three factories in each of italy and west germany two in britain and spain and one in the netherlands and denmark
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
because the securities never mature there is no way to price them properly unless there is a liquid two way market for them
english has agreed to support an amendment by rep
icgsl it said in a statement the offer was on the basis of 700p for each ic gas ordinary and 252p for every one stg nominal of ic gas loan stock
while modest open market intervention was apparently enough to defuse any funding pressures in the first week of the latest statement period economists predicted that the fed would have to be more aggressive in coming weeks
the proposal initiated by the us was withdrawn last friday setting the stage for compromise at the weekend
the move by toshiba comes in the middle of a dispute over japans refusal to open up its telecommunications market to foreign companies
to facilitate the acquisition crossland said western was converted from a mutual to a stock association in a voluntary supervisory conversion
it certainly hasnt been what we had hoped it would be
south korea to change policies to avert trade war
although the parent companys capital adequacy ratios exceeded regulatory minimum requirements at the end of 1986 first city said its two largest subsidiaries did not
nfs financial nfsf sets initial dividend
the name is intended to eliminate confusion between the parent company and its principal subsidiary combined insurance co of america
lawson says his sterling target comments were misunderstood and insignificant
danish unemployment falls to 78 pct in february
dual lite inc mdt sets quarterly
one aide once described darman as indispensable to baker
italian m 2 money supply rose a provisional 28 pct seasonally adjusted in the three months to end january 1987 the bank of italy said
other constraints were capacity 11 pct and labour nine pct the survey said
this was part of a major economic reform to be announced in the coming weeks he said
us oil traders said texaco incs filing for protection under the chapter 11 bankruptcy code is adding uncertainty to an already skittish oil market but opinions are divided on the impact to the market
china will receive loans totalling 390 mln dlrs from japan and the world bank for investment in new highways and port facilities
further drilling is being conducted it said
john mowlem arranges 50 mln sterling cp program
dec 31 end shr profit nil vs loss four cts net profit 6891 vs loss 590460 revs 6518133 vs 2521884 avg shrs 131 mln vs 120 mln nine mths shr profit six cts vs loss seven cts net profit 772703 vs loss 758620 revs 201 mln vs 7599017 avg shrs 132 mln vs 109 mln
the agency cited british petroleums 74 billion dlr tender offer today for the remaining 45 pct of standard oil shares it does not already own
the fed is sitting fairly pretty now
gulf states utilities co said its condition has significantly deteriorated and that its operating cash reserves will be inadequate by may 1987 unless it receives additional financing or rate relief from state public utilities commissions in texas and louisiana
deutsche babcock sees higher 1986 87 profits
last month rubber importing and exporting countries adopted a new international natural rubber agreement in geneva
the conversion price is fixed at 640 pence per share representing a premium of 11 1 2 pct over yesterdays mid price close of 574 pence
despite the fact that stocks are a half mln tonnes over target the surplus will not be exported at present he said
we hope that the dispute on this specific issue wont have an adverse effect on our overall relationship with the united states a ministry of international trade and industry miti official said
the 285 mln dlr project is designed to financially rehabilitate the railway the primarily state owned ferrovia paulista sa and improve transport on the lines leading to the city of sao paulo and the port of santos
lacy said that rmj employed some 300 people with 200 in the brokerage business and about 70 in its sms unit which provided computer software for the financial services community
shifts in domestic economic policy not a further fall in the dollar or trade restrictions are the key to reducing imbalances in trade and payments dutch finance miniister h
london traders said bids for licences have been reported between 4300 and 4400 ecus per 100 kilos and if any licences are granted they are likely to be towards the lower end of that range possibly 4330 4350 ecus
the department said the action was taken at the request of iraqs state trade organization for grains and foodstuffs
pravda added today that the crisis in the industry had been drawn to zolotukhins attention and two of his deputies reprimanded
but the ceiling on mmcs with maturities of one year or less will remain the same or 075 percentage point below the cd rates
in a filing with the securities and exchange commission zinn said the demand for the shareholder list was made on june 26 because he may desire to communicate with other crazy eddie shareholders regarding the affairs of the company
the great northern nekoosa corp said it will recommend to shareholders a two for one common stock split
it gave no further details
it has said it bought the stock for investment purposes but may raise its stake to 15 pct
gasekt co mrgc 3rd qtr dec 31
west german barley rape affected by winter kill
the companys largest subsidiary georgia power co said the budget for the plant has increased by 63 pct or 522 mln dlrs to 887 billion
canada lumber exports may become unprofitable
uslico corp usvc increases dividend
robert hibbert general counsel for the american meat institute said the meat industry expected to submit a formal trade retaliation petition by april 30
trus joist said it expects to close the transaction before june 30
prior year net both periods includes 7580000 dlr pretax charge for store closings
shr not given net loss 9900000 vs loss 17300000 revs 147 mln vs 298 mln note previous loss restated
raised were the pairs senior debt to bb plus from bb minus
yields may have to rise to lure other buyers
madeira inc said it signed a letter of intent to be acquired by tradevest inc through a stock for stock exchange
shr loss eight cts vs loss eight cts net loss 655457 vs loss 566429 rev 258712 vs nil year shr loss 31 cts vs loss 26 cts net loss 2725882 vs loss 1759675 rev 349070 vs nil note companys full name is computer network technology corp
the european community is willing to offer limited concessions to the united states on one of two major issues which threaten to poison their trade relations next year an ec commission spokesman said
it reported earnings of 36 cts a share in 1986 which included two large writeoffs
oper shr one ct vs six cts oper net 48000 vs 556000 revs 190 mln vs 265 mln year oper shr 19 cts vs 46 cts oper net 1586000 vs 3971000 revs 908 mln vs 1031 mln note previous oper net excludes 404000 dlrs of extraordinary expenses for qtr and 991000 dlr gain for year
weve got a fairly good chance of a prime rate rise in the near future said allan leslie of discount corp
its revenues for the year ended february 28 totaled about 20 mln canadian dlrs
centerre bancorp ctbc 1st qtr net
pittsburgh and west virginia pw 3rd qtr net
he said costa rica would press for quotas based on the real production and export potential of each country in the past few years and to distribute quotas based on historic production levels rather than recent harvests and crop estimates
asked if major nations were now negotiating on what measures to take miyazawa said they were not as measures had already been agreed in paris
waste management inc said its directors approved a may 10 accord with modulaire industries modxo under which waste management would acquire modulaire
this is 222 to 234 pct below the 124 mln to 126 mln tonnes estimated by private sources for the 1985 86 crop and 219 to 258 pct down on the official figure of 128 mln tonnes
the financial daily quoted schlesinger as saying in an interview that the bank would try to maintain current interest rate levels for the time being
we only have to wait two or three years not until the 21st century komatsu said
mcminimy told spring weather and its impact on crops will determine how much wheat moscow would buy under a subsidy offer
singapore ends scheme to help broking firms
the new facility will lower labor and mill costs and enhance product quality and range slater said
us credit market outlook prime rate
mitsui and co ltd mitst paid 15 mln dlrs in early may for a five pct stake in zoran corp a california based maker of large scale integrated circuits lsi with computer graphic communications and medical applications a mitsui spokesman told 
i understand the japanese concern
the european investment bank said it was advancing loans to italy worth a total of 3185 billion european currency units equivalent to 4606 billion lire to finance transport industry and infrastructure projects
deregulation has brought an infusion of additional capital and a broader base of products asx chairman ian roach told 
in march 1986 the utility told georgia regulators it would cap the price of vogtle its customers would be asked to pay at 356 billion dlrs the companys share of the then projected 835 billion dlr total
gencorps stock has traded well above the 100 dlr offer price since the tender was made
maize was sown on 358 mln to 378 mln hectares two to seven pct down on last seasons 385 mln
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
it said that because of the ltv and am general reorganizations the final amount of a confirmed award and the amount of any loss to ltv is uncertain
but land losses in future should fall because nearly all families already have new houses she added
new york state electric nge ends acquisition
the company said the deferral will reduce its thrid quarter revenues and earnings
most had expected the fed to supply reserves directly via system repurchase agreements or to add them indirectly through two billion dlrs or more of customer repurchase agreements
it said clopsing is expected around april 30 subject to approval by tri states board and shareholders
as a result the parent bank partial operating profit rose by 32 pct to 752 mln marks
currency options pioneered by the phlx in 1982 had become an accepted means of hedging against foreign exchange risk and had grown in popularity he said
mount isa mines holding ltd plans to acquire a 30 pct stake in europes largest primary copper producer norddeutsche affinerie ag a spokesman for metallgesellschaft ag said
indeed the bank and the gilts dealers are believed to be disappointed that the treasury has not agreed to go along with the plan
but this view has since been clouded by reports from tokyo that nakasones assurances really constituted little more than politeness in the face of british anger they added
the banks are putting a lot of pressure on these guys markwart said
colombian exports other than coffee rose 55 pct in january compared with the same period last year figures from the government statistics institute show
swiss franc notes issued after may 1 must be provided with a prospectus virtually erasing the difference in information requirements between notes and public bonds according to a convention drafted by the bankers federation
stritch jr
soviet and east german delegates did not attend the council session because of a conflicting international sugar organization meeting today but could arrive this afternoon delegates said
earlier this year usda extended the deadline to april 1 from march 1 sitter said
previously consumers were proposing 12 month intervals between price reviews instead of 18 in the current pact
the five year transaction has a 14 1 4 pct coupon and was priced at 101 3 4 pct
in a letter to caesars chairman henry gluck included in the statement sosnoff said gluck had again refused on april 8 to meet with him even though he had said he was willing to increase the price of his offer
americus shareowner service corp said the americus trust for bristol myers will continue to accept tendered bristol meyers co bmy shares until december one extending the original expiration date of april one for eight months
three is now 525 cents a lb while alloy no
the department said the presidents budget proposals for 1988 1992 would cut farm program spending an additional 24 billion dlrs
under the transaction american centennial will receive a cash infusion of 200 mln dlrs including the settlement of tax sharing agreements with beneficial corp beneficial said
southwest bancorp swb 3rd qtr loss
overnight interbank sterling was being offered at eight pct shortly after the banks announcement
at chemicals and plastics expenditures rose to 147 mln dlrs from 133 mln and at industrial gases they rose to 209 mln dlrs from 168 mln dlrs
china wants to buy 5000 tonnes pakistani cotton
leutwiler who served 10 years as head of the swiss central bank said such a step would not contradict the national banks target of monetary stability
p young said it had aquired 1905 pct of the shares of sorg inc srg to facilitate a newgotiated business combination
it said dixons held about 83 pct of cyclops stock following a tender offer and other purchases earlier in the year
interco inc said its shareholders and shareholders of the lane co laneo approved the merger of the two companies
he cautioned that it was dangerous to read too much into the monthly figure adding that a rise of only 02 pct in april would take the year on year rise back above 42 pct
a shareholder meeting is expected to be held in august
toyota motor credit corp is issuing a 23 billion yen eurobond due april 10 1992 paying 4 1 2 pct and priced at 101 1 2 pct lead manager nomura international ltd said
as early as january 1986 mobutu had warned that one does not feed on austerity and praise
the tender was announced last friday because carnival festivities closed banks in duesseldorf yesterday and will close banks here this afternoon
vernitron said that sb holding holds 552 pct in vernitron resulting from a tender offer in november 1986
rio tinto zinc net attributable profit lower
the budget has been delayed by opposition boycotts of parliament to protest government plans for a new sales tax
but sentiment now looks to have turned about again
unicorp american corp uac sets quarterly
the official said there has not been a consensus reached yet when asked about reports the paris club of western creditors had agreed to long term stretch outs of african debt at concessional interest rates
fleets current annual distibution on a pre split basis would be equivalent to 168 dlrs a share
shr loss 14 cts vs loss 31 cts net loss 144522 vs loss 334890 revs 10019828 vs 9021835 year shr loss 16 cts vs profit 10 cts net loss 170177 vs profit 105090 revs 368 mln vs 361 mln avg shrs 1068850 vs 1074624 note 1985 period ended december 28 1985 earnings include loss in each period from discontinued operations of 184777 dlrs
rexnord rex sees may merger with banner bnr 
there are banks that have decided that lending is not a good business any more
the report predicts annual world seaborne iron ore imports of 2677 mln tonnes by 2000 versus 3124 mln tonnes in 1985
amalgamated metal trading amt today lodged an appeal against the ruling which prevented its petition to wind up the international tin council itc
regulators also have criticized the industry citing quality problems and a needless overprescription of pacemakers
cargo handling remains halted at bangladeshs chittagong port since nearly 7000 workers walked out on monday following a pay dispute the port workers association said today
in return us lines will receive a fixed payment and a percentage of revenues for at least three years and possibly as long as american transport utilizes its vessels and conducts trade in south america the company said
turkey pulled warships back from close escort of its sismik 1 survey ship as the threat of conflict with greece over oil rights in the aegean sea abated
fellner said that under more normal conditions this would have given the bond and currency markets a pause but that they were too bullish to worry about such fundamentals
indonesia expects crude palm oil cpo prices to rise sharply to between 450 and 550 dlrs a tonne fob sometime this year because of better european demand and a fall in malaysian output hasrul harahap junior minister for tree crops told indonesian reporters
weizsaecker said argentina has had difficulties with the european community over trade barriers and subsidies for grain exports
ny bank discount borrowings 169 mln dlrs
kato added japan is the largest customer for us grain and depended on domestic output for only 53 pct of its food requirements in 1985
solar systems ssdn inkey of spain set pact
allegheny western energy algho ups payout
1986 qtr and nine mths includes charge 4860000 or 50 cts per share from strengthening reserve for casualty claims
toshiba could be first to feel uk trade anger
it gets attention but it hasnt devastated anything because it wasnt working in the first place a senior arab banker in the area said after the news broke this was a good measured response without risking a flare up it is a face saving response for the americans
shr 44 cts vs 71 cts net 148 mln vs 211 mln revs 6286 mln vs 6056 mln avg shrs 30743000 vs 26969000 nine mths shr 201 dlrs vs 193 dlrs net 650 mln vs 574 mln revs 189 billion vs 181 billion avg shrs 30782000 vs 26619000
this association will expand our overall activities and significantly enhance our ability to compete in the defense electronics area boeing president frank shrontz said in a statement
brunswick corp said it filed a registration statement with the securities and exchange commission on a shelf offering of 300 mln dlr in senior debt securities
the change will take effect on april 1 1987 but genuine trading companies will not be affected
shr six cts vs five cts net 188000 vs 130000 revs 122 mln vs 101 mln avg shrs 3029930 vs 2764544 12 mths shr 81 cts vs 145 dlrs net 2463000 vs 3718000 revs 524 mln vs 475 mln avg shrs 3029930 vs 2566680 note net for 1985 includes 500000 or 20 cts per share for proceeds of a life insurance policy
the adjusted world price is at average us producing locations near lubbock texas and will be further adjusted for other qualities and locations
investcorp raises 60 mln dlr facility
there has been oil industry speculation that opec might have to hold an extraordinrary meeting prior to its scheduled june session to discuss reports of overproduction by some states and strains on the differential matrix which prices each opec crude according to its quality and distance from main markets
oil normally accounts for 60 pct of its exports
a proposed sales tax on gold transactions could put a damper on the tokyo market and encourage a shift of trading to hong kong and singapore senior vice president and tokyo branch manager of credit suisse paul hofer told a press conference
a fiat spokesman contacted by said only that the report was one of the typical rumours which circulate on the bourse senior sources at the milan investment bank sige which il giornale said was involved in the planning along with mediobanca banca di credito finanziario spa and imi istituto mobiliare italiano said they were unaware of any such project
fcs said that if various aspects of the proposal are better defined its board may consider it
shr 26 cts vs 11 cts net 8700000 vs 3600000 revs 9889 mln vs 6745 mln nine mths shr 365 dlrs vs 138 dlrs net 1206 mln vs 436 mln revs 27 billion vs 21 billion note net for 1987 includes 44 mln from discontinued opers 516 mln after tax gain on sale of ef hutton insurance group and 366 mln on extraordinary gains from utiliazation of loss carryforward
most recently when prices of perpetual floating rates notes frns suddenly plunged most market makers abandoned the securities altogether leaving investors stuck with about 17 billion dlrs worth of unmarketable securities on their books
output from the naccowlah block 40 pct owned by santos provides the bulk of the throughput of both pipelines
the courts ruling came in an appeal to the trade commissions decision filed by the pork producers council
invitron corp invno 1st qtr sept 30 net
analysts shrugged off as largely irrelevant a higher than expected increase in february sterling m3 which pushed the annual growth rate to almost 19 pct well above the previous target of 11 to 15 pct
the dhaka meeting would also discuss the possibility of setting up a south bank along the lines of the asian development bank to boost financial exchanges and economic coperation between developing countries
it said the debentures which will be priced at 100 pct will have interest payable semi annually and be convertible into common after april 30 1987 at seven dlrs a share
west germany still committed to louvre accord
the plan would be similar to those already in effect in other latin american nations he said
qtly div 62 1 2 cts vs 62 1 2 cts previously pay april 30 record april seven
president reagan said the united states remains committed to the louvre accord in which the seven major industrial nations agreed to stabilize currency exchange rates
genova gnva signs definitive merger agreement
varity vat sees improved results after 1st qtr
danworth attributed the results to an increase in the operating profit in the energy and advanced technology industries and commerical segments
i suppose that under that condition there is a danger our exports will continue to drop and that the government will continue to accumulate large stocks of soybeans he said
a similar euroyen offering was reported to be in the market for a scandinavian borrower
royal bank of canada lowers prime rate to 8 3 4 pct down 1 2
the package would provide 20 mln ecus for research into alternative farming techniques the sources added
miyazawa expects dollar rebound soon spokesman
diversified industries inc plans to recover more than four mln dlrs from the sale of two marginal subsidiaries chairman ben fixman told the annual meeting
they said another problem that could hit the industry is the dry spell in producing areas
non callable for five years the issue is rated a 3 by moodys investors service inc and a by standard and poors corp
chrysler c non profit group sells unit
gencorp said its agreement to sell its rko pictures subsidiary to a management group has been terminated because the group could not raise the necessary financing
the saudis had demanded that brazil get credit guarantees from leading international banks
non callable for five years the issue is rated a 2 by moodys investors service inc and a plus by standard and poors corp
usda estimated soviet 1986 87 coarse grain imports at 1200 mln tonnes vs 1000 mln tonnes last month and 1985 86 imports at 1370 mln tonnes vs 1370 mln tonnes last month
basing their judgement on todays market conditions dealers expected the loan to be priced at 10100 pct for a yield of 609 pct
he said world consumption of wheat is increasing by about 20 mln tonnes this year primarily for feed use
west germanys chemical industry fears mounting risks will hurt earnings but hopes 1987 turnover will stabilize around 1986s 140 billion marks josef strenger a board member of the industry association vci said
dealers said they expected rates to remain within a 370 to four pct range this month
the cuts follow nearly two months after the bundesbank reduced leading interest rates far longer than the usual interim period
yields on certificates of deposit issued by the united arab emirates central bank were unchanged at 6 1 8 pct the bank said
weve heard news every now and then of violations but they were not at all verified he said
the company said for the first quarter of 1987 earnings were about 48000 dlrs up from 13000 dlrs or nil per share in the year ago period
terms of the extension require nuclear data to obtain replacement financing from outside sources before june 30 it said
banc one corp said it has completed the acquisition of first national bank of bloomington ind which has assets of 271 mln dlrs
its objectives would include increasing market transparency through improved statistics and undertaking activities aimed at developing the copper market and contributing to improvement of demand
us japanese open talks on semiconductors
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
the rate of increase in world palm oil use is likely to slow next season despite an expected 800000 tonne production rise to 813 mln tonnes siegfried mielke editor of the hamburg based newsletter oil world said
shr 47 cts vs 40 cts net 4399000 vs 3768000 sales 766 mln vs 680 mln year shr 179 dlrs vs 184 dlrs net 16701000 vs 17159000 sales 2917 mln vs 2691 mln note fiscal 1987 year based on 53 weeks compared wqith 52 weeks a year earlier
we have the potential for record breaking soybean yields this year which will temper the enthusiasm on tomorrows opening she said
above all it wants to wait to see how the unions wage round goes in west germany unions and employers prepare the ground for triennial wage negotiations based on detailed assessments of growth and inflation economists said
greece aims to reduce foreign borrowing to 16 or 17 billion dlrs this year from 26 billion in 1986 and will use some of the funds to make early debt servicing payments the governor of the bank of greece dimitris halikias said
the majority of the 170 billion dlr merchandise trade deficit in 1986 was with japan
several analysts previously had said they saw takeover values for the package delivery company in the 35 dlr per share range
the national plan set before prices began to rise put plantings this year at 460000 hectares against 425000 in 1986 nowicki said
he said he will put a so called hold on the bill until he finds out whether the war powers act applies to protecting kuwaiti tankers
the 1987 88 budget deficit is forecast to be 28 billion dlrs against an expected 29 billion dlrs in 1986 87 and 187 billion in 1985 86
sigma said it changed its 1986 reserve reporting method following dome mines previously reported move to adopt general industry practice of reporting proven and probable ore reserves
as previously reported pending a ruling from the internal revenues service the trusts distribution may be reduced by 109 dlr per unit plus interest spread out over the life of the productive properties in which the trust has an interest
the gao concluded in a preliminary report last week that payment in kind or pik certificates cost between five and 20 pct more than cash outlays administration officials who asked not to be identified said
members of the security council met behind closed doors on monday to discuss developments in the gulf war but no statement was issued afterwards
they said he threatened to withhold support for the ec commission plan for new limits on farm output which if breached would mean price cuts unless spain received some help
network executives cited cable television services and video cassette players which compete for viewers
selling of buffer stock rubber had levelled off during the past week to 10 days and this could reflect a wait and see attitude by buyers he said
foote mineral co said it signed a letter of intent with shieldalloy corp a wholly owned subsidiary of metallurg inc for the sale of its cambridge ohio business
the officials looking beneath the rhetoric of statements by the group of five g 5 industrial nations told the currency movements of the past two years are also creating a fundamentally new world trade picture which is throwing up new trade tensions and imbalances
there had not been a declaration of force majeure on contracts to ship minerals abroad
but it said a 415 mln dlr non cash writeoff of oil and gas properties taken in the first quarter resulted in a net loss of 439 mln dlrs or 721 dlrs per share
2nd qtr feb 28 shr loss two cts vs loss eight cts net loss 33482 vs loss 163130 revs 143961 vs 287131 1st half shr loss 14 cts vs loss eight cts net loss 276238 vs loss 149407 revs 273737 vs 679860
the revised adjusted january index was down 05 pct from december when it rose 36 pct from a month earlier
all wheat 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stks 13705 13648 12554 12587 production 52920 52840 49897 49881 imports 9757 9827 9456 9436 feed use 10179 10082 9019 9056 total domes 51726 51489 48745 48820 exports 10108 10120 9592 9576 end stocks 14899 14999 13705 13648 note world imports exports may not balance due to differing marketing years grains in transit and reporting discrepancies
divi hotels dvh warrant price adjusted
credithrift financial to redeem notes
sumita says little room for bank to ease policy
the non callable bond is available in denominations of one mln yen and will be listed in luxembourg
holders of venezuelan public debt bonds would be able to exchange them for bolivar denominated bonds at up to 100 pct of their nominal value which could be turned into private investment in priority areas
europeans are confused about this underlined by von moltkes reference to the leadership of the maekawa report
government sources said nakasone would try to resolve growing bilateral trade friction and discuss the june venice summit of western industrial democracies
any shortfall during this period affects production in the main rainy season because farmers eat their stocks of seed
the icco daily and average prices on friday fell below the must buy level of 1600 sdrs a tonne designated in the pact which came into force at the last icco session in january but without rules for the operation of the buffer stock
toyota motors signs purchase agreement with pnb
cbt february volume down 14 pct from year ago
halvorsen said this is the first time saga has applied to operate on opec member gabons continental shelf adding that italian oil company agip is heading a group of applicants in a separate bid for the same license
the units existing management group headed by ron mcarthur will also participate in ownership the company said without elaborating
in fiscal 1986 ending september federal spending amounted to 238 pct of gnp while federal receipts absorbed 185 pct of gnp leaving a deficit of 53 pct he said
under the previous system spains foreign reserves would have risen by 391 mln dlrs in february taking into account a fall of 514 mln dlrs in financial institutions foreign currency position
sour grades in the us gulf showed an increase of 33 cts a barrel for alaska north slope up 17 pct
computer devices inc 4th qtr
dauster said except in rare cases brazil has always sent its london based representative to ico board meetings
orange co inc said its largest shareholder summit resoureces inc has increased its stake to 15 pct from 14 pct and now owns 644727 shares
he told reporters at an energy conference in jakarta that opec had decided to maintain its price level of 18 dlrs
calgary based domes restructuring plan would allow creditors to convert debt to common shares under a formula yet to be negotiated
zondervan corp zond 4th qtr net
1985 net includes extraordinary gain of 892000 dlrs
for finance ministers and central bankers attending this weeks semi annual meetings of the international monetary fund and world bank the new figures released by the imf add an additional concern
imf urges belgium to make further spending cuts
usda details conservation crop enrollment
fed funds were trading at 6 3 4 pct close to yesterdays 681 pct average
the european community commission confirmed it granted export licences for 59000 tonnes of current series white sugar at a maximum export rebate of 45678 european currency units ecus per 100 kilos
the soviet oil production target for 1988 has been set at 625 mln tonnes a rise of eight mln tonnes over this years planned output
nissan affiliate to acquire us autoparts maker
kaufman and broad home corp kbh 1st qtr feb 28
these banks hold two thirds of the countrys 816 billion dollar foreign debt
in a report dated march 10 the official said that about 800000 tonnes of the corn has been delivered with the balance of 700000 tonnes to be shipped between now and june
iu international co said it reached a preliminary agreement to sell the hawaiian insurance cos to hawaiian electric industries inc
a major non opec producer britain has so far resisted the groups pleas to curb its north sea oil output
romero said he would tell big buyers of copra meal in london that the philippines was doing its best to meet ec standards
fellner noted that the exchange rate was to remain the leading edge of monetary policy but said the authorities were likely to be extremely cautious on this front
ongpin is angry because the banks granted argentina an interest rate spread of 13 16 pct the same as mexico won just weeks after telling the philippines that it must accept 7 8 pct because the mexican margin could never be repeated
india again in market for sugar trade
cash flow from its low growth tobacco but the tobacco business does require great amounts of capital expenditures
ford motor f distributes profit sharing
transco exploration partners ltd exp in payout
in that year company changed to calendar year from previous fiscal year ended april 27 1985
simmons airlines inc simm 2nd qtr loss
venezuela probes alleged foreign exchange fraud
keihin electric express railway co ltd is issuing a 150 mln dlr eurobond with equity warrants due april 22 1992 with an indicated coupon of 2 3 8 pct and priced at par lead manager yamaichi international europe ltd said
pakistan produced 540 mln kilos of yarn in fiscal year 1985 86 and exported 157 mln
saskatchewan crops deteriorate in hot weather
lac lac intersects more gold at doyon mine
bp bp to hold new york press conference
january september figures released at the weekend showed soviet oil output in the first nine months of this year at 467 mln tonnes
but asked by japanese reporters also linked into the news conference whether the positive reaction meant the us might decide at next weeks venice summit to lift its sanctions on some japanese electronic goods shultz replied these sanctions were undertaken on the basis of an agreement that had been reached between the united states and japan on various sale practices and prices relating to the chip market
dufour said the company has been negotiating with many us textile companies but would not say whether burlington industries was one of them
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
renewal of us ussr grain pact said uncertain
prime minister david lange is in hawaii on his way home from vancouver
1986 net excludes tax credits of 271538 dlrs
shr 64 cts vs 51 cts net 4373000 vs 3346000 sales 598 mln vs 455 mln avg shrs 6808000 vs 6600000 nine mths shr 157 dlrs vs 118 dlrs net 107 mln vs 7745000 sales 1670 mln vs 1231 mln
roy f
shr nine cts vs six cts net 3500000 vs 2500000 revs 2940 mln vs 3515 mln note 1986 year includes tax gain of 1700000 dlrs
turkey sees 15 billion dlr deficit in 1986
johnson at first chicago agreed citing political opposition in washington to a dollar defense package at a time when congress sees further dollar depreciation as the key to reducing the us trade surplus with japan
the new debt settlement scheme entails a rescheduling of problem credit over 10 to 15 years depending on whether debtors have regular cash flows or not
cable and wireless plc cawll is resisting attempts to merge two japan based telecommunications firms in the hope that overseas political pressure will force a change in those plans a company executive said
an investment group leds by robert m
results include us press inc from november three acquisition
meanwhile the official praised the philippine plan under which it would make interest payments on its debt in cash at no more than 5 8 pct above libor
very little physical business is now done in 9950 pct purity metal nearly all of which is produced in eastern bloc countries such as romania
exports to the eec rose 351 pct to 770 mln dlrs and imports fell 38 pct to 15 billion he said
feds johnson sees inflation controlled
the agreement assures the retention of more than 600 jobs at a northeast philadelphia plant which had been in jeapardy when gould had accepted a tentative offer from westinghouse inc which was later terminated
the ec had so far only agreed to provide 380 mln ecus towards transport modernisation
but he said hong kongs large trade deficit with the us may result in protectionist measures that will adversely affect the british colony
commerce said the us trade deficit with latin america rose 900 mln dlrs to 26 billion dlrs with japan increased 700 mln dlrs to 148 billion dlrs and with western europe rose 200 mln to 72 billion dlrs in the quarter
nationwide cellular service inc said it has acquired an option to purchase rights to about 4000 subscribers from americom la systems a los angeles reseller of mobile telephone service for 2750000 dlrs
a tender for engineering work on the asia port project will be offered mid year
qtly div 30 1 2 cts vs 28 1 2 cts prior pay july 15 record june 30
swedish matchs b shares open to foreign buyers closed at 424 crowns on friday
in a filing with the securities and exchange commission the group led by investors lawrence altschul and james apostolakis said it cut its zondervan stake to 157500 shares or 38 pct of the total from 246500 shares or 59 pct
under the amended deal lifestyle shareholders will get one bombay share for each six instead of five lifestyle shares
there is growing consensus that the dollar has bottomed out for the medium term added tom campbell of first national bank of chicago
at the urging of the us recording industry the subcommittee agreed to bar imports of a new japanese product digital audio recorders
pdvsa income on oil sales fell 45 pct in 1986
american can ac files 500 mln dlr shelf offer
the us agriculture department projected chinas 1986 87 wheat crop at 9030 mln tonnes vs 8850 mln tonnes last month
analysts said esso also gained its first real onshore stake in australia in its first major diversification from the 50 50 bass strait partnership with the broken hill pty co ltd brkns esso has been very keen to diversify from the gippsland basin
it allocated 61 billion marks in new liquidity much less than the 149 billion leaving the market as a prior pact expired
coffee sugar and cocoa exchange names chairman
the finance ministry described todays tender as successful and said the amount raised reflected a change in market circumstances since the last loan issue together with international demand for guilder denominated paper
the company employs 2500 people
the redemption price will be 5263 dlrs a share declining to 50 dlrs a share on or after june 15 1997 plus accrued and unpaid dividends the underwriter said
lvi an interior construction firm said the acquisition is subject to execution of a definitive agreement and completion of due diligence
it referred to a marked downturn in the number of workers taken on in the capital goods sector
saudi role in gulf praised by us officials
the italian treasury said today that italy was certain that this time incidents would not occur but it said it would be opportune to look in depth at the role and the procedures of g 7 in relation to those of g 5
northgate ngx quebec workers end strike
s and p cited the adjournment of a special shareholder meeting in which hughes objected to certain conditions for the merger of the companies set by the us justice department
they said the market for denim is more fragmented than burlington contends and that burlington has the ability to switch between light weight and heavy weight denim production as demand and price dictate
philippines world bank sign 310 mln dlr package
as part of the restructuring goodyear executed a major stock buyback program that resulted in an increase in its debt
caesars world caw bid valued at 907 mln dlrs
he believed the trade would remain with a continuing demand for fresh meat
miyazawa would not say what specific measures major nations would take but told reporters the measures had been discussed in paris
overall indonesian output during jan sept is forecast to rise three pct to 933000 tonnes
the barley is for delivery august 15 november 30 in three shiments of 50000 tonnes each
durables manufacturing increased to 768 pct last month from 763 pct in january the fed said
he encouraged companies to take advantage of new laws guaranteeing the interests of foreign partners in joint ventures
cocoa buffer stock accord closer delegates say
the wheat price in karachi the most expensive pakistani city had dropped from 311 rupees per kilo on march 1 to 285 rupees on march 30
bhp will subscribe for the remaining 540 mln shares or 56 pct of issued capital on the same terms
partial operating profit 1826 mln marks vs 3137 mln
february exports rose to 287 billion dlrs fob from 283 billion in january and 230 billion in february 1986
us carriers or battleships would sail out of range of those missiles but within striking distance the paper quoted officials as saying
both the split and the dividend are payable april 30 to holders of record march 31
the company said clinton president f
hartford steam hbol sets split dividend hike
oil tankers taking oil from iraq and kuwait have been regular targets for iranian planes
additional interest and principal payments may be due on the bank revolving credit lines if the company generates more cash than it needs for operations
norways 84 pct share of statfjord which extends into the british north sea sector was 611138 bpd against 552646 bpd in august operator den norske stats oljeselskap a s statoil said
jannock jnto acquires half stake in printer
the number of live sheep shipped last year to saudi arabia the biggest single market was 3214159 compared with 2939226 in 1985
s k i skiio to buy califora ski area
almost 60000 tonnes of food was taken out of ec stores between january 20 when agriculture ministers approved the scheme and march 13 according to latest commission figures
during the qtr and nine months period ended febraury 28 1987 the company capitalized pre tax amounts of 746000 dlrs and 1445000 dlrs of development costs respectively
about 92 pct of its sales were to the military
shr 278 dlrs vs 255 dlr net 3020 mln vs 2716 mln revs 20 billion vs 21 billion
by the end of february shipments had fallen 800000 bags behind registrations leaving around 24 mln bags to be shipped during march
shr after preferred divs
the last confirmed iraqi attack took place on march eight when the iranian tanker khark 5 was hit south of kharg
qtly div four cts vs three cts prior pay april 15 record march 31
the central bank will have 10 days to decide whether to issue the required foreign exchange
novo industri a s nvoco year 1986
year on year m 3 rose 1966 pct in january from 1780 pct revised from 1777 in december and 2010 pct in january 1986
imports to south east asia are seen rising to 586 mln from 326 mln tonnes in 1985
however fukukawa said japan was ready to continue trade talks with the united states despite its failure to convince america to call off the threatened tariffs during two days of emergency talks which ended in washington yesterday
conseco inc said it has signed a definitive agreement to acquire western national life insurance co from beneficial corp for 275 mln dlrs in cash
as previously announced icn also said it authorized the additional purchase of up to 15 mln shares of viratek common
our mandate is to finance investment related activities rolando arrivillaga the banks resident representative in the philippines told in an interview
pre extraordinaries net shr 7553 cents vs 7832 div pay april 30
france posted a seasonally adjusted trade deficit of 400 mln francs in february after a 25 billion franc deficit in january the finance ministry said
peru says new gold deposits worth 13 billion dlrs
autotrol corp autro 3rd qtr net
eateries inc eats year net
it was also possible the us would reimpose a 40 pct tariff on ec pasta lifted when the citrus row was settled
an investor group including bessemer securities corp and cilluffo associates told the securities and exchange commission it asked federal antitrust regulators for advance clearance to hold more than 30 mln dlrs of intermedics inc common stock
calny clny gets bid from pepsico pep 
van driel said he expected a 1987 us turnover of 700 mln dlrs
thailand calculates foreign reserves to include gold special drawing rights and convertible currencies
i wish to emphasise that the growth in the volume of the external indebtedness of african countries reflects the full effect of the deflationary monetary and trade policies of the developed market economy countries mamman said
it said the price is based on diversifieds estimated 32 mln dlrs pro forma pre tax earnings for 1986 after adjustment for certain non continuing expenses
the group said all tender offers should remain open for at least 30 calendar days
s p downgrades bethlehem steel corps one billion dlrs of debt
baker says us not seeking iadb veto
the us agriculture department forecast the soviet 1986 87 cotton crop at 1120 mln bales 480 lbs net vs 1120 mln bales forecast last month
pakistan cotton output reaches 77 mln bales
flooding in the red river on the texas oklahoma border has shut down the basin pipeline a 24 inch pipeline that transports as much as 300000 barrels per day of sweet and sour crudes from texas to cushing okla a texaco pipeline co spokesman confirmed
payment date is april 15
this weeks economic calendar begins on tuesday with february durable goods orders
rumors circulated among the trade this morning that the ussr may have purchased between one and two mln tonnes of us corn but there was no confirmation
earlier this year it negotiated a possible bid for underwoods plc buit the talks were broken off two weeks ago
waste management ends tender offer for chemlawn
what happened is that the storm hit lubbock airport and when that happens everybody sees it said dale mohler a senior meteorologist with accu weather inc
net for nine mths 1987 includes a cumulative effect of a change in accounting for gain on pension assets reversion of 101 mln or 42 cts a shr
but the company said it expects to close the acquisition over the next 60 to 90 days
lsb industries lsb agrees to acquire bank
gulf escorts still under discussion weinberger
patrick michaels jr and cea investors partnership ii video said it currently has 7525000 shares of common stock outstanding
stanwood corp snw 4th qtr jan 3
the program will reach an initial 118000 viewers
the average wholesale price related inflation stood at 52 pct in march this year against 51 pct a year ago the ministry said in a statement
shr profit 15 cts vs profit 15 cts net profit 1025000 vs profit 969000 revs 109 mln vs 78 mln 12 mths shr profit 33 cts vs loss one cts net profit 2375000 vs profit 90000 revs 382 mln vs 203 mln note revenues figure shows contract revenue not gross contracts written
the long term appreciation of the swiss franc and the accelerating deregulation of foreign banking markets could lead to a loss of international market share for both it said
may same section 140 pct bid offered five lower at 145
balance computer corp 3rd qtr jan 31 loss
representatives of south africas standstill coordinating committee scc and its commercial bank creditors have agreed new terms covering repayments of 14 billion dlrs of debt banking sources said
other milds coffee producers to meet may 4
it said the units being sold lost 28 cts per share in the first nine months of fiscal 1987 and 12 cts in all of fiscal 1986
on beef exports he said a 50 pct drop in european community intervention stock in the past 12 months would help australian sales
imports are currently very low
in the year to september 1986 group profits totalled 39 mln marks on sales of 514 billion against the previous years 32 mln on 511 billion marks
the 775 dlrs a share cash offer expired at 2000 est yesterday
in its international weather and crop summary the agency said southern winter wheat areas are in the early vegetative stage
union members unanimously rejected the latest company offer that was submitted to the union late last week ufcw union spokesman allen zack said
there are 96 mln shares outstanding this year up from the 85 mln shares in 1986 utilicorps president richard green told financial analysts here
service resources corp said it has withdrawn and terminated its 23 dlr per share takeover offer to sorg inc because sorg failed to respond to the bid
diversified also said it is in the process of obtaining six mln dlrs in an industrial revenue bond financing from the state of connecticut to modernize the companys plume and atwood brass mill plant in thomaston conn
the exchange rate has been fixed at 124 australian dlrs to the mark
they said that in meetings of the ec special committee on agriculture representatives of most member states had said the changes taken together would have too harsh an impact on farmers incomes
earlier supermarkets general said an unsolicited third party had made the offer
general mining genmj cautions on 1987 profits
saudi arabias 11 commercial banks are reporting a further decline in profits for 1986 as increasing provisions have to be set aside to cover the burden of non performing loans
the deficit for the eight months to the end of february was 153 mln dlrs as against 1057 billion dlrs in the same period a year ago
jim walter corp said it completed the acquisition of owens corning fiberglas corps mineral ceiling and fiberboard plant in meridian miss
att t to sell neti netfc software
the buyback plan caused several analysts bullish on the stock to reiterate buy recommendations this morning and at least one increased his earnings estimates for gm based on a good performance expected from new car models
on the economy seger called the latest figures in gross national product a modest upward revision
rowe price umbrella or among outside money managers collins thinks stocks are better investments than bonds at this time
papandreou repeated an invitation to turkey to take the long standing continental shelf dispute to the international court of justice at the hague
in the full year ended may 31 1986 the group earned a record 9882 mln dlrs
the department said the bonuses awarded averaged 11684 dlrs per tonne
philippines finance minister jaime ongpin said he was cautiously optimistic an accord on debt rescheduling would be reached with commercial bank creditors as he prepared for the third week of talks starting monday
aegons net equity was 271 billion guilders in december 1986 against 346 billion the year before
the ways and means committess trade bill forces president reagan to retaliate against unfair trade practices that violate international trade agreements but it allows him to wave retaliatory tariffs or quotas if the action would hurt the us economy
government officials have said earlier that the more valuable class a shares would not be sold to foreigners
one rural vote is worth several city votes due to the pattern of constituency borders
tokyo bids to stop chip row turning into trade war
japan in last ditch effort to avert tariffs
i think theyll help each other he said
by drawing attention to us in our discussions it means that others may be a little reluctant to come forward he said
the treasury said it reserved the right to close the issue early
banks were well stocked up with funds having an average 521 billion marks in bundesbank minimum reserves in the first 24 days of march well above the 507 billion requirement
the european community ec expressed disquiet over protectionist moves in the united states to limit imports of textiles and said it would retaliate immediately if ec exports were hit
dividend 34 cts vs 34 cts previously pay april 15 record march 23
the officials said negotiations will start next month on another 150 mln dlr loan sought by manila to carry out reforms in 14 major state owned corporations
the bundesbank and finance ministry had given no indication that the meeting would take place although the finance ministry spokesman said it had been arranged last week
in st louis mercantile bancorp said its mercantile bank na was also raising its prime rate to 7 3 4 pct from 7 1 2 pct effective immediately
the debt has a quarterly payment schedule
the trade surplus rose to 814 billion dlrs in february from 477 billion a year earlier and 570 billion in january
the taiwan dollar opened at 3109 to the us dollar today unchanged from yesterday
seal sinc acquires ademco ltd
the debenture carries a three year term and is convertible from april 1 1987 to march 31 1989 at 135 dlrs a share and from april 1 1989 to march 30 1990 at 150 dlrs a share
qtly div 22 cts vs 22 cts previously pay april 15 record march 31
the canadian government today said ottawa would continue to apply a duty of 849 cents per bushel on us corn imports
current capacity is 136000 bbl day
four of west germanys five leading economic research institutes warned that excessive monetary growth threatened a resurgence of inflation
payment to open reserves 20 mln marks vs 20 mln
qtly div 57 1 2 cts vs 54 1 2 cts prior qtr pay may 15 record may 1
besides stock prices they were manufacturers new orders for consumer goods and materials average work week and building permits
the purchase gives esso a 50 50 partner with the broken hill pty co ltd brkns in the bass strait its first onshore production in australia they said
moodys said it would assess the likely financial consequences of the 19 mln dlr rate reduction ordered today by the pennsylvania public utility commission
pessimism mounts over bahian temporao cocoa crop
colorocs corp clrx year loss
the bundesbank did not intervene as the dollar was fixed lower at 18063 marks after 18231 on friday dealers said
thailand to renew long term sugar contracts trade
the cocoa pact establishes precise differentials the buffer stock manager must use when purchasing varying grades
they said recent high interest rates have encouraged an acceleration in foreign funds returning to france discouraging the authorities from making a hasty rate cut
in the third agreement year sales totaled 6960700 tonnes 152600 tonnes of wheat and 6808100 tonnes of corn
the new china news agency said rain and snow in henan had improved the prospects for wheat sown on 48 mln hectares and caused a drop in grain prices at rural fairs since late february
last year we embarked on the most dramatic restructuring programme ever attempted by a major south african business and we have largely achieved what we set out to do escom chairman john maree told a news conference
in addition to the purchase price csr will share equally in any returns due to increases in crude oil and condensate prices over certain levels for liquids produced from delhis interests in the next two years the statement said
the put option will be at 125 pct to yield 87 pct
maxxam group inc mxm 4th qtr loss
taiwan agreed last year to voluntarily limit its steel product exports to the us to 120000 tonnes in the first half of 1987 from about 260000 tonnes in the first half of 1986 a taiwan steel and iron association official said
the company said over 576 mln dlrs of last years group losses came from commercial insurance lines and 282 mln dlrs from its personal auto insurance business
ico executive board to meet early november
we believe gas prices have bottomed out
deposits from the public sector rose 185 mln stg in february while deposits from overseas residents rose by 43 mln
insider trading has not been eradicated but it has been inhibited and multimillions of dollars of profits that boesky and others have been siphoning off the markets are now flowing through to legitimate investors and traders shad said in his statement
but even some government borrowers were not getting the best reception for bonds which would have been taken up more readily under other conditions
the spokeswoman said the talks foundered on the question of how much the subsidy should be cut
exchange rate trends therefore hit us much more severely than most other airlines
japan india conference cuts gulf war risk charges
as a result foreign exchange reserves increased somewhat from their level at end 1986 he said but gave no figure
association president edward obrien said the group acted out of concern over the ad hoc restructuring of corporate america on wall street and investor fears about insider trading and fairness in the marketplace
this tranche is non callable to maturity
to date 3863000 dlrs principal amount of the securities has been tendered under the offer it said
rockwell has a net interest charge of 7722 pct for the issue the daiwa officer said
its almost an issue of sovereignty for the latin americans one iadb official said
the decision follows the emergence of structural changes in japanese industry following the rise in the value of the yen and a decline in domestic electric power demand
pall corp pll sets quarterly dividend
shr loss 43 cts vs profit eight cts net loss 31 mln vs profit 502896 revs 56 mln vs 42 mln note1986 net includes negative effect of accounting change of 354650 or five cts a share
estimates at the time showed a french 190 mln franc surplus for december 1986
grain ships loading at portland
sara lee corp sle shelf offering of up to 10 mln shares of common stock through morgan stanley and co inc and goldman sachs and co
arden international aiki 2 larkville note 1985 period ended december 28 earnings exclude losses from discontinued operations of 30000 dlrs or one ct a share vs 71000 dlrs or three cts a share for the year earnings exclude gains from tax loss carryforwards of 13000 dlrs or one ct a share vs 45000 dlrs or two cts a share in the quarter and 28000 dlrs or one ct a share vs 105000 dlrs or four cts a share for the year
the japanese authorities want only one competitor and have proposed that the two consortia band together
they said the fed may add the reserves indirectly instead via a large round two billion dlrs or more of customer repurchase agreements
he said the market could come down to test the 16 dlr a barrel level again but the main thrust of investing in oil is positive right now
consul restaurant corp said it extended the deadline of its exchange offer for its 13 pct convertible debentures due 1992 to 1700 cdt april 24
us home loan banks set 2135 billion dlr offer
british airways issues 100 mln stg eurobond
santos ltd stoss said it had made a significant oil discovery at its mawson one well in the moomba block of the cooper basin south australia
in henan shandong and hebei wheat aphids are affecting 467 mln hectares wheat red mite 28 mln hectares and wheat powdery mildew 17 mln hectares
grain traders and analysts look for a 10 to 12 mln acre sign up in the usdas conservation reserve program scheduled to be announced after 1400 cst today
the march trade surplus was 145 billion dlrs compared with 132 billion in february and 102 billion in march 1986
john maslen head of the ec delegation told as he emerged from the final session we made some progress but we have called for another meeting officials who asked not to be named said the comecon team had refused to accept a clause in the draft declaration which would recognise west berlin as part of the 12 nation ec
but if there is superpower protection we would rather it come from us the official said
terms of the agreement were not disclosed
shr diluted 118 dlrs vs 104 dlrs net 450 mln vs 392 mln assets 167 billion vs 152 billion deposits 130 billion vs 121 billion loans 119 billion vs 101 billion note results restated for merger of midlantic banks inc and continental bancorp inc on january 30 1987
bundesbank president karl otto poehl said there were good chances for exchange rate stability
cohen sees an average price of 425 dlrs and another analyst michael pickens at yorkton securities puts the average at 450 dlrs with a possible spike above 500 dlrs
icahn filed such an application with the dot but the filing was thrown out by the dot on friday
however the finance ministry statement said all the british banks had promised their participation in the loan
fiscal 1987 nonrecurring income items totaled 4322342 vs 1393187 in 1986
industry commissioner karl heinz narjes told ministers capacity was 30 mln tonnes in excess of requirements and that this excess ought to be eliminated by the end of 1990
the ec tariffs which would involve renouncing obligations entered into with the world trade body gatt would be designed to stop a diversion of exports to the ec market from that of the us the diplomats were meeting as tokyo announced that the ecs trade deficit with japan reached a record 213 billion dlrs in march up from 194 billion in february
officials from the national corn growers association and the national cattlemens association said their groups oppose any 0 92 or decoupling plan due to concerns about reopening the farm bill and creating more confusion among farmers
biotechnology development corp said its medicontrol corp subsidiary received a 500000 dlr investment by monsanto cos gd searle and co subsidiary
at a news conference after todays g 7 meeting miyazawa said the ministers and central bank governors did not believe a totally new statement was needed
petroleum futures rallied today in a market that was expecting declines in domestic supplies and became further unsettled by escalated mideast fighting
he noted growth in the money supply slowed after mid january
opecs overall ceiling is 166 mln bpd
on march 16 twa withdrew its bid saying it did not intend to seek control of usair group or to acquire more of its stock at the time
executone is at the top of the list said one analyst referring to contels loss riden telecommunications equipment unit
he warned that the us japan agreement governing trade in semiconductors was in jeopardy
he said there were positive signs of growth in the economy particularly the drawdown of business inventories in the fourth quarter
shr royal dutch petroleum co rd 230 dlrs vs 290 dlrs final royal dutch dividend of 830 guilders for total 1280 guilders vs 1280 guilders for 1985 shr shell transport and trading co plc sc 138 dlrs vs 165 dlrs final shell transport dividend 1180 pence for total of 1720 pence vs 1400 pence for 1985 group net 107 billion vs 124 billion group sales 2042 billion vs 2584 billion year shr royal dutch 865 dlrs vs 911 dlrs net shell transport 478 dlrs vs 516 dlrs group net 371 billion vs 388 billion group sales 8140 billion vs 9457 billion notes group is 60 pct owned by royal dutch and 40 pct by shell transport dollar amount of royal dutch dividend will depend on guilder dollar exchange rate on may 14
security pacific also acquired a stock appreciation right equal to 18 pct of the value of the new companys fully diluted common stock schwab said
fed data indicate policy likely to stay on hold
the dollar could well come under renewed pressure after the international forums as attention returned to the us and the uk s trade dispute with japan dealers said
morgan stanley mortgage trust i a unit of morgan stanley group is offering 3178 mln dlrs of aaa rated collateralized mortgage obligations that include two floating rate tranches said sole manager morgan stanley
the bank of france said it sold a total 845 billion francs worth of treasury tap stocks through its latest monthly tender at which it offered a choice of one floating rate and two fixed rate tranches
tesco plc tscol said it was extending its 151 mln stg contested bid for hillards plc until may 1
nrm energy co nrm sets regular payout
just how long the run is is anybodys guess swearingen said
the issues had been on creditwatch since january 2
it said the exercise price of the warrants may be reduced and the number of shares increased in certain circumstances
shr 15 cts vs 10 cts net 1790824 vs 1031602 revs 140 mln vs 67 mln nine mths shr 41 cts vs 23 cts net 4830513 vs 2296192 revs 405 mln vs 154 mln avg shrs 120 mln vs 105 mln
commission would have been passed along to customers who did place orders via the primary dealers making it less expensive to buy through them than to go directly to the bank
amstutz is expected to tell the committee that there are uncertainties in determining the cost of certificates compared to cash outlays and that savings to the commodity credit corp ccc almost equal costs department sources said
they now range from 1775 pct to 185 after a recent series of reductions since late march following an easier trend in short term money market rates
diamond crystal dslto 2nd qtr sept 30 net
established in 1866 the plant was acquired by du pont in 1928
foreign exchange dealers estimate the fed had sold two billion dlrs worth of yen from its own account to support the dollar in new york last week
they also helped a major improvement in the trade balance
cms advertising inc said its board has approved a three for two stock split in the form of a dividend payable march 30 to holders of record march 16
mse cable systems inc 4th qtr net
shr profit 31 cts vs loss 20 cts net profit 1044424 vs loss 515425 avg shrs 3406841 vs 2544531 year shr profit 283 dlrs vs profit 42 cts net profit 8811142 vs profit 1058503 avg shrs 3111464 vs 2544531 note full company name is united fire and casualty co net includes realized gains of 93551 dlrs and 764177 dlrs respectively in 1986 qtr and year and of 92075 dlrs and 972935 dlrs respectively in 1985 qtr and year
of the two components comprising central bank money stock cash in circulation rose to 1117 billion marks in february from 1109 billion in january the bundesbank data showed
but operators find it hard to push the dollar either way for fear of possible concerted central bank intervention
experts attributed the fall to lower world market prices following the failure to re introduce international coffee export quotas but they said colombia could compensate the drop with higher exports in calendar 1987
but that will be reduced early next year after a placement of 11 pct of the issued shares of hong kong telecommunications by both cable and wireless and the government
as a result tokyo is striving to meet us complaints about its trade practices in a variety of fields including super computers
lerner said he accumulated the other one mln shares through march 3 and sold them to clevebaco lp which he controls on march 10 for 4010 dlrs a share
the company said the rising political controversy in the us concerning the venture made it unlikely that the sale of the fairchild stake could be completed within a reasonable time
an inconclusive meeting here march 22 between central bank governor francisco gros and brazils bank advisory committee can only have stiffened that resolve
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
the western industrialised nations have agreed reforms in rules by which they provide credit for exports to developing countries the organisation for economic cooperation and development oecd said
dealers said that now the question was to see how the terms of imminent operations would be set with great market interest focussed on the likely three next issues
the sources said this indicated a move by the government out of other types of debt to gain access to foreign funds through the more acceptable loan stock form
however chris tinker uk analyst at brokers phillips and drew said that the faster rise in exports than imports would prove partly aberrational in coming months
dart group corp darta which wants to acquire supermarkets general corp for 162 billion dlrs is not likely to give up without a fight if its target seeks another buyer arbitrageurs said
they said the bank of communications issue traded at a low of 9970 but was later pushed up to 9990 95 within the 10 basis point fee adding that buying came mainly from sister banks in the bank of china group
pat roberts of kansas that the administration would soon offer export enhancement wheat to the soviet union lyng said well it wont be today and then added we have no official comment one way or the other lyng would not comment on whether a wheat subsidy offer to the ussr is under more active consideration at the usda saying that any remarks by him would be tantamount to an official announcement and could be construed inappropriately
as the second largest us gypsum wallboard producer it generates over 80 pct of operating earnings through wallboard output
chinese port underused despite congestion nearby
in the meantime ultramars objectives were to improve profitability by selling or restructuring weak operations while strengthening core businesses and developing a sound operational and financial base
streamlining of the new money process is running parallel with efforts to develop a broader menu of alternatives to new loans such as trade credits or debt equity conversions
bicc pre tax profits rose to 101 mln stg in 1986 from 92 mln in 1985 with turnover rising from 211 billion stg in 1985 to 214 billion stg in 1986
business loans on the books of major us banks excluding acceptances fell 822 mln dlrs to 27794 billion dlrs in the week ended march 25 the federal reserve board said
numac oil and gas ltd said it expects significant improvement in operating performance during 1987
central bank president leonel figueroa said peru had enough hard currency gold and silver on hand to cover 10 or 11 months worth of imports
shr 28 cts vs 16 cts net 9387000 vs 25617000 revs 4101 mln vs 3935 mln avg shrs 354 mln vs 1647 mln note 1987 net reflects interest expense on debt incurred to finance recapitalization in oct
wilhelm christians said
canamax resources inc said it agreed to acquire the 50 pct interest it does not already own in the krezmar gold property near wawa ontario by paying nine mln dlrs to algoma steel corp ltd and granting algoma a four pct net smelter return royalty which is payable after payback
shultz is set to arrive in moscow april 13
the dividend is payable may 20 to shareholders of record april 20 1987 it said
our expansion schedule is on track may said it plans to invest more than 600 mln dlrs this year to open 11 department stores eight discount stores and more than 240 specialty outlets
news corp said if the merger agreement were terminated under certain circumstances news would be entitled to a 16 mln dlr cash payment
ghana has lifted a ban on rice and maize imports due to crop problems caused by unusually dry weather the official ghana news agency gna reported today
the company said the remainder of its write off would include a one time expense for future costs related to early retirement programs office consolidations and an increase in the general reserve for adjustments and contingencies
m 2 showed a rise of 509 pct for january at 5568 billion rand after 430 pct in december m 1 1672 pct at 512 billion after 1280 pct and m 1a 2279 pct at 1430 billion rand after 2054 pct
its up to tehran to respond one way or the other a diplomat said
the balance of 14 mln dlrs will be paid as required by merlin for its exploration and production commitments it said
indonesian sugar output seen short of target
chief inspector of mines redzuan sumun told that excess output of some 3000 tonnes after exports of 28500 in the one year quota period would be kept in the national stock
the bank has provided the system with around 171 billion stg assistance so far today
but in an address to a conference of the indonesian petroleum association he said if worst comes to worst and say the flow of oil through the straits of hormuz is completely shut off i believe the world oil supply given time to adjust can take care of the situation but this is not to say that prices at least for a short duration will not skyrocket as speculators take advantage of the situation he declared
gunnar gold gggto in venture agreement
us law requires that at least 75 pct of shares in a us airline be owned by american firms or persons the spokeswoman added
dutch consumer prices are set to fall by 05 pct in 1987 and stay stable in 1988 partly as a result of declining domestic gas prices
abu dhabi marketing said not breaching opec pact
transit financial holdings inc 4th qtr net
these forecasts develop a strong counterpoint to the fears that natural gas suplies would be tight and prices significantly higher given a sharp decline in drilling last year
edelman had no comment on the rumors
india bought eight cargoes of white sugar at a buying tender this week but also gave sellers options to sell an extra eight cargoes at the same prices traders said
styx missiles have a range of up to 50 miles
qtly div 25 cts vs 25 cts prior pay march 31 record march 18
ortner said there had been little impact on us trade deficit by the decline of the dollar because at the time of the plaza accord the dollar was extremely overvalued and that the first 15 pct decline had little impact
holders who wish to participate in the offer must first convert their preferred stock into borg warner common stock
the company said it also approved an amendment to its articles of incorporation allowing class b shares to be coverted into class a shares at the option of the holder
shv united kingdom holding co ltd said it was making a tender offer for up to 33 mln ordinary shares in imperial continental gas association
they predict the three month bill discount rate to slip to 3875 pct from 40000 today and the three month certificate of deposit rate to slide to 410 415 from 435 25
it said it intends to sell the rest of its dayton hudson shares
the agreement tentatively set in january includes production tooling design and equipment for urban transit buses inventories and trademark identification
brown forman today reported a 37 pct increase in third quarter profits to 216 mln dlrs or 100 dlr a share on a seven pct increase in sales to a record 337 mln dlrs
the fed added reserves indirectly via one billion dlrs of customer repurchase agreements last friday 25 billion dlrs on monday and two billion dlrs on wednesday
gencorp gy to study general partner bid
west germany and bolivia signed two cooperation treaties today expected to nearly double the amount of overall aid the south american country receives from its european trade partner german officials said
campeau acquired allied for an estimated 42 billion dlrs on jan 1 following a battle with debartolo
swift to sell south dakota pork plant
florida public fput splits stock ups div
turner broadcasting system incs cnn said it reached an agreement with china central television to air its news programming in china
tom kay administrator of the usdas foreign agricultural service said yesterday the requirement that more food aid shipments be carried on us vessels has been difficult to meet
early redemption is not allowed
co operative bancorp said it completed the acquisition of all the issued and outstanding stock of the quincy co operative bank qbcko under the agreement quincy stockholders will receive 30 dlrs cash for each share owned of the quincy co operative bank for a total transaction of approximately 50 mln dlrs co operative said
the bonds will be exchangeable from july 1 for shares on a one for one basis
burr brown bbrc sees lower 1st qtr earnings
electromedics lost 6000 dlrs in last years first quarter
one idea is to levy new loan contributions on the basis of current exposure instead of outstandings at an earlier base date august 1982 in the case of mexico
va polypropylene plant
larry feinberg an analyst with dean witter reynolds inc said a management led leveraged buyout cannot be ruled out
aqazadeh said the two sides agreed to conduct feasibility studies for a pipeline to take iranian crude from fields in southern iran to the black sea through the soviet union
shr 60 cts vs 57 cts net 1037 mln vs 965 mln revs 4725 mln vs 4341 mln avg shrs 1523 mln vs 1470 mln 12 mths shr 260 dlrs vs 244 dlrs net 3931 mln vs 3471 mln revs 179 billion vs 176 billion avg shrs 1509 mln vs 1422 mln
they are sceptical about the chances for any fundamental change
national heritage inc a unit of southmark corp said it began an initial public offering of two mln shares of common stock at a price of 950 dlrs a share
usair said it has already bought 23 mln piedmont common shares or 99 pct of the total outstanding from norfolk southern corp nsc for 1619 mln dlrs
she said deposits with the commercial banking system rose to just over 118 billion pesos at the end of december from 10789 billion at the end of 1985 and 9283 billion at the end of 1984
one said that the companys proposal was equivalent to a japanese company wanting to take a stake in mercury international the subsidiary of cable and wireless that is the only real competitor of british telecommunications plc btyl british corporate affairs minister michael howard leaves for japan on saturday
what is obvious is that the latest military adventure will not bring political dividends to the american administration krutikhin said
dixons initially ended its 9025 dlr a share tender offer on march 17 after receiving 54 pct of cyclops shares
swires share of cathay which stood at 70 pct before the flotation fell to 5425 pct at the end of last year and has since slipped to 5023 pct
in a filing with the securities and exchange commission twa which is controlled by carl icahn said it continues to closely watch the developments of usair which has an agreement to acquire piedmont aviation inc pie twa said it spent 1782 mln dlrs to acquire its 4043200 usair shares which amount to 148 pct of its total outstanding common stock
the imf position was unchanged from january at 507 mln but was above the 422 mln in february a year ago
we have made significant progress over the last 30 days and we should have an agreement in a shorter lapse of time than managed by mexico venezuela or chile he said
suntrust banks inc sti 1st qtr net
the paper said the proposed rules would not cover spot foreign exchange contracts and securities traded in futures and options exchanges
to meet that request they had to slash production by 20 pct over the final six weeks of the first quarter
george weston ltd year net
swissair 1986 net 645 mln swiss franc vs 685 mln div 33 francs vs 38
us selling 17 billion dlrs of 9 20 day bills
an investor group led by new york investor george soros said it acquired a 61 pct stake in bf goodrich co common stock as an investment
shr loss nine cts vs profit 14 cts net loss 773000 vs profit 1618000 revs 163 mln vs 267 mln six mths shr loss 56 cts vs profit 27 cts net loss 4763000 vs profit 3398000 revs 293 mln vs 499 mln
the us government has attempted to remedy the trade imbalance by driving down the value of the dollar
brazil trade surplus rises in february
an explosion and fire today damaged a grain elevator in bancroft iowa destroying thousands of bushels of grain authorities said
net excludes tax credits of 62000 dlrs vs 41000 dlrs in quarter and 127000 dlrs vs 88000 dlrs in year
the government for which competition and the deregulation of markets are major political themes is unlikely to make final decisions tomorrow on how to act against japan officials said
each 10000 franc bond has one 275 franc warrant giving the right in the first three years to exchange the host bond for a similar non callable 9 1 8 pct 1994 bond or in years four seven to buy a 9 1 8 pct 1994 non callable bond
datron corp datr 4th qtr net
the issue was announced on monday when it was widely seen as a move by the authorities to brake market optimism for a further uk interest rate reduction following the half point cut in clearing bank base lending rates to 105 pct earlier in the day
oper shr loss 471 dlrs vs loss 1409 dlrs oper loss 22 mln vs loss 672 mln note 1986 loss excludes gain on the sale of gold lance corp of 121 mln dlrs
mclean said us lines has a letter of intent with csx corps csx sea land corp subsidiary to transfer assets of its transpacific hawaii guam service to sea land
at that meeting the two reaffirmed their willingness to cooperate on exchange rate issues
palomino said the government would soon publish a list of those to be sold including those whose shares would be offered on the lima stock exchange
brown forman corp said it filed a shelf registration covering up to 200 mln dlrs of debt securities guaranteed by its parent company brown forman inc
exxons refinery operations benefited from a three year 500 mln dlr upgrading program to its baytown texas refinery completed last october and an 850 mln dlr upgrading project in rotterdam both of which emphasize utilizing lower grade crudes to extract higher proportions of light products
salomon brothers internationals cmo eurotrust subsidiary is issuing a 228 mln dlr collateralised mortgage obligation priced at par and yielding 40 basis points over the three month london interbank offered rate libor salomon said as lead manager
however hernandez stressed that the government had managed to keep gasoline sales almost constant at 164000 bpd
this is based on a price of 892p the bass share quotation at 1630 gmt on april 2
in may malaysia cut output to 420000 bpd from 459000 in response to a call by opec to boost prices
it was not only important to achieve the domestic goals of price stability economic growth and full employment but also to tackle international problems like the exchange rate problem the debt problem and the current account problem
the company said preliminary estimates of 1986 revenues is 245 mln dlrs compared with 7900000 for 1985
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
shr 31 cts vs 26 cts net 1858000 vs 1388000 sales 271 mln vs 187 mln nine mths shr 87 cts vs 76 cts net 5126000 vs 3798000 sales 706 mln vs 572 mln
bank of new england corp said it filed with the securities and exchange commission a registration statement covering a 200 mln dlr issue of subordinated capital notes due 1999
the loan assumption was again ratified by last weeks board meeting
but in the early 1980s interest rates soared
the statistics office said producer prices for liquefied gas fell 10 pct in may from april and heavy heating oil prices declined 53 pct while lead prices rose 23 pct and silver prices increased 13 pct
the statement confirmed released preliminary earnings figures the company released in february
the finance ministry said indias wholesale price linked inflation rate dropped marginally to 53 pct in all fiscal 1986 87 ended march from 58 pct in 1985 86 and 71 pct in 1984 85
it is under separate administration from the tanzania zambia railway linking dar es salaam with the zambian copperbelt and the railway system of southern africa which has already received substantial aid as part of international efforts to ease the dependence of landlocked african states on trade routes through south africa
saudi arabia bahrain qatar and the uae are linked in theory to the international monetary funds basket of currencies the special drawing right sdr but in practice to the dollar
inl said the acquisition took effect on march 1
electro nucleonics inc enuc 2nd qtr dec 31
royal said the shares issued in the deal will be subject to registration rights
harbour workers returned to work this morning after a strike in support of pay claims closed new zealands 15 ports for 24 hours yesterday
the advisory body said in its report that the yen would soar against the dollar if structural adjustments on a global basis were delayed
twelve years of civil war have devastated productive sectors of the lebanese economy and created gaping trade and budget deficits
the economy ministry is holding its inflation forecast to five pct in spite of minister carlos solchagas doubts last week on whether this target could be maintained if wage settlements continue to rise above the governments recommended five pct ceiling
he noted the firm last year sold interests in airfreight operations australian properties and trucking business and its remaining us oil and gas activities
the republican congressmen also said they will offer an amendment to the trade bill instructing the us agriculture department to value the bonus commodities used for eep at the market value rather than the cost of acquisition
merrill said the loan is a back up to a proposed euro commercial paper program
as we can see from the market expectations for a further revaluation of the deutschemark have diminished schlesinger said
cross owner of about six pct of the companys stock who offered 34 dlrs a share and harcourt brace jovanovich inc hbj which offered 50 dlrs a share
projected issue price is around par against 9950 for the march bond they said
a commerzbank spokesman noted the figures werehowever preliminary and required approval of the banks supervisory board which meets today
cuts of up to 50 pct on those items were made last year and wang said further cuts would go much deeper
assistant us treasury secretary david mulford for instance criticized what he called large scale solutions such as debt forgiveness or the creation of new multilateral lending agencies
finance minister kiichi miyazawa said that the dollars drop today to 145 yen is partly attributable to the perception inside and outside japan that the country has failed to fulfill its promise to expand domestic demand
stoltenberg told journalists he saw no fundamental weakness of the february 22 agreement of the group of five countries and canada to keep exchange rates near the then current levels
unequivocal glickman said at the hearing
oklahoma farmers prepared 10 pct of their cotton seedbeds 15 points below average the agency said
announcing the 1986 results wagner said we will endeavour to maintain the higher dividend in 1987 laenderbanks balance sheet total rose five pct to 1977 billion schillings against 81 pct growth in 1985
the federal funds rate at which banks lend overnight money to one another could help determine how many banks match the higher prime rate and also how quickly they move
in return latin nations would have to give up their 54 pct simple majority voting power over iadb lending
unit wage costs in uk manufacturing industry rose 33 pct in the three months to end january on a year on year basis after a 31 pct rise in the three months to end december the department of employment said
the complaint reviews the price action of avia stock from march 1986 and noted the plaintifs who purchased stock between 19 dlrs and 25 dlrs per share
the funds will be raised through the issue of up to 116 mln ordinary sedgwick shares to the vendors of bsi by no later than 31 january 1991
gulf canada goc asserts no damage from spill
the commercial banks have much to gain from taking the lead themselves to develop the kinds of ideas that help assure the concerted lending process works he said
trade house sources said china is expected to step up its sugar purchases following yesterdays steep drop in world sugar prices
miller attributed the expected loss to completion of the purchase transfer and consolidation of operating assets of the osullivan rubber division saying this was proving more costly and taking more time than originally anticipated
bruce and james o
ico talks set to end with no quota debate
gasper said he sees a new drilling cycle emerging that could last until 1992 and that he expects the average rig count to peak near 2000 in december of 1989
transcapital tfc unit closing 12 offices
denominations are 1000 and 10000 dlrs
consumers and a splinter group of eight producers favoured redistribution of export shares using objective criteria which would likely have reduced brazils share
we have given permission for a small amount of imports to prevent a shortage during ramadan he said
delegates on both sides are keen to come to some agreement today the last day of the fortnight long council meeting they said
the proceeds of the issue will be used to fund outstanding short term borrowings storehouse plc corporate treasurer lance moir told 
ec 1986 87 coarse grain production is projected at 8122 mln tonnes vs 8119 mln tonnes last month
morgan led a group that won the bonds in competitive bidding
no rain was recorded in corrientes chaco and formosa
chartered bank general loans outstanding rose 481 mln dlrs to 12499 billion dlrs
the spokesman said the bill was introduced without any changes from the administrations proposal sent to congress last month
it said it will use the proceeds to repay its debt
equiticorp tasman ltd etl said it will offer 415 dlrs a share cash for all the issued capital of monier ltd mnras currently the subject of a 380 dlrs a share bid by csr ltd csras alternatively etl will offer three shares plus 82 cents cash for each monier share it said in a statement
bc resources also recorded a 999 mln dlr extraordinary loss which included losses on disposition of north sea oil and gas interests by 67 pct owned westar mining ltd bc resources 1986 extraordinary charge also included a writedown of its investment in westar petroleum
the company will continue to post a louisiana price it said
peabody holding completes acquisition
oreilly who declined to make a specific projection said the food company is stronger than at any time in its 118 year history last week heinz reported third quarter earnings rose to 55 cts a share from 46 cts a share
the bank report said indonesias rice production had peaked and the subsidies are a waste of money
prime minister yasuhiro nakasone sounded a conciliatory note in japans increasingly bitter row with the united states over trade in computer microchips
he estimated that debt equity conversion plans accounted for 25 billion dlrs last year in four of the regions major debtor states
but it was better than never ko fei lo vice president at first commercial bank said the government should rapidly relax its foreign exchange controls and open its market wider to help balance trade with its trading partners especially the united states
the federal home loan bank board said interest rates on both fixed rate and adjustable rate home mortgage loans were down substantially in early february
bankers trust co is raising 200 mln dlrs through an offering of subordinated equity contract notes due 1997 with an eight pct coupon and par pricing said lead manager shearson lehman brothers inc
only a small percentage of spring wheat farmers would likely sign up for 0 92 since the incentives to plant are greater than to idle the land economists said
an aide to agriculture secretary richard lyng who asked not to be identified said there was nothing to substantiate the speculation which he said was started by somebody fanning the wheat market wheat futures strengthened today partly on the basis of the speculation
net borrowings were 20 pct of shareholders funds and the group had listed investments of 471 mln
shr 84 cts vs 75 cts net 475000 vs 425000 total income 7248000 vs 7286000 1st half shr 161 dlrs vs 150 dlrs net 911000 vs 847000 total income 146 mln vs 142 mln
foreman said usda should follow a national academy of sciences recommendation to label chicken packages to remind consumers of preparation procedures necessary to avoid illness
new york mercantile exchange president rosemary mcfadden declined to comment on texacos futures trading saying that is is proprietary information
the target is to raise exports to 20 pct of gross domestic product over the next four years compared to 15 pct now he said
he said the allis chalmers division accounting for some 50 pct of the us groups sales would fit in well into boliden
belgian wholesale prices fell by 59 pct in january from a year earlier after a 57 pct year on year fall in december figures from the economics ministry show
asked if american authorities could have been persuaded by cuts in german rates to come to the bargaining table as early as last september one of the sources quoted poehl as saying no they wouldnt have been
pentland said the amount of the capital gain from the sale depends on the offering price for the reebok shares to be negotiated between it reebok and the other selling stockholders who will offer about 16 mln shares of reebok common and the underwriters
shr loss six cts vs profit three cts net loss 368188 vs profit 149334 revs 39i3523 vs 4129240
it said that the uae and ecuador may demand higher quotas in vienna but the biggest obstacle is iraq which has refused to honour its quota as it is less than that of gulf war enemy iran
we have to speed up liberalisation and cut import tariffs faster and more substantially he said
aegon said annuities are subject to such strong personal investment influences that it should be accounted differently from the more traditional insurances
that has a lot of potential as well as risks for us business yeutter said
k mart chairman bernard fauber said the success of these programs is better illustrated by the strong 359 pct increase in 1986 income from continuing operations before income taxes to 103 billion dlrs the first time k mart corp has reached this milestone sales for the 1986 fiscal year reached a record 238 billion dlrs an 81 pct rise from 2204 billion dlrs the prior year
the administration has proposed a goal of 700 million dlrs worth of strategic materials to be held in the stockpile
the companies said they choose a 77 acre site in west greenwich ri for the ventures manufacturing facility which will make biotechnology based pharmaceuticals
dlr below 150 yen counter to paris pact miyazawa
it based its predictions on its liabilities and on the resources which would be available under such a plan
marcos was toppled by a military civilian revolt in february 1986
the louvre accord on currency stability which has maintained an uneasy calm in currency markets since last february appeared in serious danger today as a transatlantic dispute over west german interest rates came to the boil foreign exchange dealers said
several local newspapers reported the joint venture would be capitalised at 150 mln dlrs owned 60 pct by inland and 40 pct by nippon steel and have annual production capacity of one mln tonnes of steel to supply car makers
the conversion price has been fixed at 262p which represents a premium of 962 pct over fridays closing share price of 239p
the current bid is 55500 dlrs but offers at 65000 show that confidence in simex remains said michael killian general manager of chase manhattan futures corp
california energy said that as part of the financing it received a letter of commitment for 133 mln dlrs of project funding from credit suisse
today purolator revealed in a filing with the securities and exchange commission that director doresy gardner resigned from its board of directors in a letter dated march 10
ccc credit guarantees to haiti amended
russo securities inc said in a statement it acted as a broker executing unsolicited orders for an individual named in a securities and exchange commission civil suit alleging insider trading violations
hawkeye entertainment inc said it completed its initial public offering at the maximum subscription level of 14 mln shares at 25 cts per share for proceeds of 35 mln dlrs
todd said the 75 ct preferred dividend will be paid may one to shareholders of record april 15
all steers imported into the united states from mexico must now be branded with the letter m on the right jaw the us agriculture department said
note 1986 qtr and nine mths include loss 131000 dlrs or one cent per share from unspecified extraordinary item
on tuesday the world bank approved two loans totalling 310 mln dlrs to help the countrys economic recovery program
all we know is that cacex has increased the dollar amount to translate fob price to ex dock new york price to 1050 dlrs from 770 dlrs goncalves said
micropro international corp mpro 4th qtr net
growth in oil consumption in the western industrialized countries is likely to slow to around one pct this year compared with 23 pct in 1986 the international energy agency said
he noted the firm has suggested financial services as a key sector and he said it may add some insurance firms to its existing business
prior year includes extraordinary gain of one ct per share
consolidated said customers needs will be met from a wide range of low cost sources including the spot market independent producers and brokers and consolidateds producing affiliates cng development co of pittsburgh and cng producing co based in new orleans
despite the stronger states net needs in the week their cash position and other market dependent influences just about balanced the outflow of liquidity from the money market through an increase in cash in circulation the bundesbank said
banking sources say yugoslavias reserves are inadequate at present for even one months debt and import bill
california firm has five pct of modulaire modx 
ec commission grants export licences trade
gardenamerica corp gaco secondary offering of 489764 shares of common stock through montgomery securities
one trader said that although demand from japanese investors is heavy it may prove to be only short term
as expected market conditions have improved so that demand for automotive replacement parts is gradually and steadily expanding echlin president frederick mancheski said
finnish export corp is issuing a 20 billion yen bond maturing april 23 1992 carrying a 4 3 8 pct coupon and priced at 102 3 4 said yamaichi securities international europe ltd
he said they were optimistic this could mean the continuation in the near future of liberalisation policies introduced over the last year
s p may downgrade mepc plcs eurobonds
the agreement between usda and transportation is expected to resolve the matter usda officials said
however the ministry sources added it is possible the government may make further cuts in response to strong us and european demand
consolidated attributable net 1986 profit 360 mln francs vs 2798 mln
shells product sells for 145 yen per litre 15 yen higher than regular gasoline and has already achieved a 38 pct share of japans high octane gasoline market it said
lastly baldrige said that the united states was hopeful that it could complete a free market agreement with canada by the autumn but said major issues including acid rain remained unresolved
first boston the swiss affiliate of first boston inc said it raised its stake in the company to 11262307 shares or 355 pct of the total from 10262307 shares or 328 pct
risk provisions in 1987 were therefore unlikely to reach the same high level as in 1986
operating loss 696 mln francs vs 146 billion
analyst robert gordon of shearson lehman brothers inc said manufacturers hanover corp mhc has the greatest exposure to brazilian loans of any new york bank in terms of percentage of earnings
chapman also repoted a loss of 434 mln dlrs for the year including asset writedowns of 355 mln dlrs compared to december 31 compared to a net income of 177243 in 1985
the sia us semiconductor industry association doesnt even have an office here a source close to the industry said
gonzalez praised the committee for its cooperation in the latest negotiations and said the resulting deal which was announced by the banks on wednesday should put argentina on the road to meeting its economic goals
no single nation could substitute for saudi arabia as an lpg supply source to japan the sources said
shr profit 75 cts vs profit 25 cts net profit 2742962 vs profit 936333 sales 749 mln vs 701 mln year shr profit 105 dlrs vs loss 107 dlrs net profit 3868888 vs loss 3931580 sales 2993 mln vs 2811 mln
proceeds will be used for general purposes which may include possible acquisitions refunding outstanding securities and repaying short term debt the bank holding company said
he said the nominal trade surplus for 1987 as a whole is likely to fall only slightly from the record 1122 billion marks in 1986 but other economists said the surplus could fall to around 80 billion marks
french finance minister edouard balladur discussed the need to control public spending in talks here today with british chancellor of the exchequer nigel lawson a treasury spokesman said
one latin american debt official said he saw the brazil and ecuadorean announcements as spurring moves by other debtors to link debt service payments to macroeconomic indicators such as export earnings gdp or raw materials prices
treasurys baker says new money not debt panacea
the bonds will be sold in denominations of 5000 dlrs and will be listed in luxembourg
fears that the program would encourage inflation were incorrect he said
only these 18 japanese branches of foreign owned brokers would meet other existing requirements to participate
a further cut in rates would have little impact on the economy as banks are in any case reporting slack credit demand with companies swimming in liquidity chrobok said
the fledgling private sector was hard hit by the middle east recession as early as 1983 and several big manufacturing and trading companies ran into problems repaying loans
spain gives cuba 25 mln dlr credit line
gabelli is an investment firm headquartered in new york city
thomson mckinnon units cmo offering priced
service corp international srv sets quarterly
the restructuring is subject to approval by carter hawley shareholders
taylor said it would be premature to speculate on the outcome of debt resturcturing negotiations with brazil or their potential impact on the royal bank
pension insurance group pgai 4th qtr net
allied signal said bearing acquisition is a newly formed corporation owned by an investors group organized by harold s
on january 9 the company sold 100 mln dlrs of same rated same maturity notes yielding 7 3 4 pct or 115 basis points over treasuries via a shearson lehman led syndicate
the bill extends reagans authority to negotiate an international coffee agreement through october 31 1989
the sale will also include the related marketing and distribution system for the refinerys products
both sides are showing clear interest to secure stability of the currencies
owens and minor inc obodo 3rd qtr net
change of european operations method resulted in pre tax translation losses of 11 mln dlrs in 1987
non oil commodity prices will show a modest dollar price increase in 1988 for the first time since 1984 the eiu said
the farm credit funding corp said it will not issue bonds as scheduled on april 21 because of a decline in borrower needs for term credit
the theory runs that once a debtor nation has reformed its economy it can service its debt comfortably and without an atmosphere of crisis
focusing on commodity prices as an early and sensitive indicator of current and perhaps also future prices pressures the monetary authorities may take such an index into account in making their monetary policy decisions he says
union texas also said it would seek acquisitions of oil and gas properties as well as petrochemical related businesses
the irs estimates about 90000 returns will be directly filed this tax season up from the 26000 returns injected in the 1986 tax season
saying he was content with sterlings current value lawson told reporters he wanted to maintain the exchange rate stability we have all signed up for he declined to say if he favoured a rise or a fall from present sterling levels
the company said it previously reported special charges of nine mln dlrs in the fourth quarter from losses on restaurant closings lease termination costs contract settlements and severance arrangements
earthquake damage to a pipeline sharply cut ecuadorean production from march to may this year
deutsche bank posted a sharp rise in holdings of other securities to 464 billion marks from 271 billion in the parent bank
shareholders will be asked to approve the issue and an increase in authorised capital to 175 mln shares from 125 mln at a general meeting on may 1 it said in a statement
in addition to a half dozen ships in the us navys small mideast task force near the straits of hormuz the pentagon has moved 18 warships including the aircraft carrier kitty hawk into the northern indian ocean in the past month
obviously nobody wants to pay more than you have to
but he did not elaborate or name any countries
it means they could become interest free loans if the korean currency continues to rise in value he said
after the trade data are released the dollar could fall towards 177 marks and 140 yen similarly natsuo okada of sumitomo bank in new york warned i dont think the dollar has bottomed out yet although the dollar could rise as high as 14650 yen okada said market impatience about the painstakingly slow decline of the us trade deficit may lead to renewed pressure
among finished goods the index for energy products rose four pct in february after a 98 pct increase in january
brazil is not happy with the existing structure of the 14 bank advisory committee which coordinates its commercial bank debt finance minister dilson funaro said
common shares not bought in the offer will be converted into the right to receive 6050 dlrs per share in cash the tender price
he said some of the countries which were complying as venezuela indonesia libya algeria ecuador saudi arabia and iran
high winds keep vessels trapped in baltic ice
a bp spokesman said the fire was confined to one plant at the 700 acre refinery at grangemouth 25 miles west of edinburgh
the asset sales and equity offering were part of a recapitalization plan undertaken by the chemicals company last year
fed expected to set three day repurchase pacts
trade in mark denominated bonds was expected to be subdued today due to pre lenten carnival festivities in west germany
brazil did not do this homework one said
but for now all analysts say there is no sign the buying pressure is slowing down
terms were undisclosed
benetton of italy sees expansion acquisitions
it planned to increase the number of flights from italy to new york to 19 per week to reinstate flights to boston and to re open the direct rome milan los angeles service
orange co oj holder raises stake
but a seventh accord we believe to be unnecessary the sixth ita will expire at the end of june unless a two thirds majority of members vote for an extension
brazil would like to come up with such a plan he said adding the moritorium is likely to be a temporary affair during his formal remarks conable made it clear that he believed brazil must take some specific internal action
s and p cited concerns over bethlehems viability over the intermediate term rather than any immediate threat to solvency
donald regan president reagans former chief of staff said the government should loosen the money supply try to keep interest rates down and try to reduce the federal budget and trade deficits to avoid a recession
despite its cost cutting mhi expects profits to drop 40 pct to 30 billion yen in the current fiscal year ending march 31 from 1985 86s record 5014 billion
its fiscal year ends september 30
foreign exchange reserves totalled 8368 billion crowns compared with 8552 billion in december and 9919 billion crowns a year ago
aqazadeh said the half billion dollar damage estimate was preliminary
marathon raised crude posted prices by 50 cts a barrel effective october 16
schlesinger said the contraction in the first quarter was mainly due to adverse weather conditions just as occured in 1986
hertz corp a unit of ual inc filed with the securities and exchange commission for a shelf offering of up to 500 mln dlrs of senior debt securities on terms to be set at the time of sale
soviet grains seen entering spring on shaky note
engelhard corp said its board declared a three for two stock split and raised the quarterly dividend to 19 1 2 cts per share presplit from 19 cts both payable march 31 to holders of record march 17
the agreement signed in january for the months from february to june is up for renegotiation
singapores united industrial corp ltd uic has agreed in principle to inject 16 mln dlrs in convertible loan stock into teck hock and co pte ltd a creditor bank official said
this sector suffered from slack demand from abroad and from low domestic consumption
bedford computer corp year net
it was a smaller deal than expected and somewhat disappointing said analyst george baker at smith barney
stocks july 31 1986 at 935 vs 935 last month
the non callable bonds will be guaranteed by the national bank of canada
the following deliveries are scheduled for april 6 against chicago baord of trade futures silver 392 lots at chicago illinois
in the 1986 first quarter brand reported earnings of 21 cts on revenues of 285 mln dlrs
argentine meat exports during jan dec 1986 totalled 220911 tonnes against 223204 tonnes shipped in the same 1985 period the national meat board said
yeutter told a congressional hearing it was possible china could be a member of gatt before the end of the year
data measurement corp dmcb 4th qtr
the ministry of mines has announced the discovery of a major gold field in grand bois in haitis mineral rich north
the potential for environmental damage is being downplayed at this time despite the volume of oil that runs through this line
us military forces in the mideast gulf are under orders to protect only american flag vessels and occasional us arms deliveries on other ships to non belligerent states in the area the pentagon said today
wilderness experience inc 4th qtr loss
note shr applies to total net 5466 mln dlrs vs 6948 mln after extraordinaries loss
if confirmed by the senate as expected he will succeed john shad who left the agency earlier this week after a record six years as chairman to become ambassador to the netherlands
makoto kuroda vice minister of japans ministry of international trade and industry miti is to hold two days of meetings with the deputy us trade representative michael smith and the under secretary of commerce bruce smart
canadas february unemployment rate seasonally adjusted fell to 96 pct from 97 pct in january statistics canada said
us treasury part of argentine bridge loan
us to ask for share of japans rice market
but analysts said hopes of reduced stocks is likely to founder on increased runs in refineries which could be up 03 pct above may 22s 812 pct capacity operated
national convenience ncs to have 3rd qtr loss
each stock is convertible into the companys common stock at 2360 dlrs a share which represents a conversion premium of 242 pct over the last sale price of 19 dlrs a share on march 11
international minerals and chemical corp said its board approved a 50 mln dlrs budget over the next several years to build production facilities for a newly developed product to be used to improve the lean weight of hogs
the union representative said that the pact offered cost of living increases designed to keep pace with inflation but contained no wage increase
it said a bank can sell the bonds on the secondary bond market for either dlrs or pesos depending on its requirement
details were not immediately available
levitt corp lvt 4th qtr net
dome said operating income from its crude oil and natural gas segments fell by 250 billion dlrs to a 1986 loss of 171 billion dlrs from prior year earnings of 7370 mln dlrs
allegheny noted it had previously cancelled plans to spin off the foodservice subsidiary
the very existence of all these bilateral irritants clearly emphasises the need to develop multilateral solutions to some of these problems the eighth gatt round of negotiations was launched at punta del este in uruguay in september 1986
this compares with a loss of 137000 dlrs or 15 cts a share and again of 13 mln dlrs or 145 a share for the fourth qtr and year respectively in 1985
the spokesman said the problems affecting sulphuric acid and roaster plants that had halted production since may 4 had been resolved
european community finance ministers discussed the economic outlook for the 12 nation bloc and many said a recent gloomy forecast by the ec commission was too pessimistic
lilco was seeking to include costs totaling 118 mln dlrs for the abandoned nuclear power plant project in its rate base a spokeswoman said
hernandez was speaking to reporters at miraflores palace on the results of talks with ecuadors deputy energy minister fernando santos alvite who arrived here last night
texaco canada cuts crude prices 64 canadian cts bbl par grade to 2226 canadian dlrs
one of two rival firms seeking to enter japans international telecommunications market said it will offer a stake in the company to 10 foreign firms
midland bank plc mdbll said it has initially allocated 500 mln stg for home loans at this rate while lloyds bank plc lloyl will offer 300 mln stg
d p selected utilities dnp hikes payouts
white engine a manufacturer of industrial and automotive diesel and gasoline engines with more than 100 mln dlrs in sales said it has been sold to a group of group investors
1986 oper net excludes one time charge of 168 mln dlrs or 246 dlrs a share in qtr and year due to the february 1987 sale of the companys engine parts division
the platinum coins would be made in four weights but the silver coin would be of one ounce weight
the source said the ec will be looking for signs of flexibility on the part of producers in the next few days and will be able to respond if they are there
american motors corp said it is extending and enhancing its buyer incentive programs on renault alliance encore and gta models and jeep comanche cherokee and wagoneer to april 10
the court ruled the employers had made a mistake in the complicated legal procedure for obtaining official permission for the redundancies and therefore could not proceed
continental bank said it continues to expect that the final distribution to shareholders will be in the range of 1650 dlrs to 1725 dlrs per share and will take place in late 1988 or early 1989
bank of japan to sell 300 billion yen in bills
moodys downgrades bankamerica bac 
uk budget seen boosting government bond market
it is being built at citroens large plant at aulnay sous bois in northern paris as well as at rennes in brittany and vigo in spain with production just reaching target level of 1000 cars a day
a chinese trade official estimated the yen component of the countrys total debt at about 30 pct
they slipped 394 mln francs to 3733 billion mostly due to sales of dollars for special drawing rights the spokesman said
iraq rejects new opec oil quota
the cuts follow a similar move by national westminster bank plc nwbll the rate changes take effect tomorrow
the independent research organisation cut its 1987 growth rate forecasts for west germany to 22 pct from 32 pct in december and to 23 pct from three pct for japan
reynolds metals co said it plans to restart the last idle potline at its troutdale ore primary aluminum plant
however others were less worried
he said the present trade surplus was vital if his nation was to reduce its 445 billion dlr foreign debt
current exchange rates almost within levels agreed by major nations sumita
earlier ual announced that it completed the purchase of hilton international co for 8357 mln dlrs in cash and 25 mln shares of ual inc common stock
widdrington said labatts three year business plan now being updated targets total sales of about six billion dlrs including 250 billion dlrs in the us labatt canadas leading brewer has expanded in the us food products industry by acquisitions
malaysia declines to state position on cocoa pact
arkadi kuhlmann president and chief executive officer of deak international said the purchase will expand deaks operations in precious metals and wholesale non ferrous metals trading
european monetary officials said later that the italian delegation was inside the building
a series of labor disputes and bad weather has meant brazils coffee exports have been running at an average two weeks behind schedule since the start of the year one source added
indonesian foreign debts manageable conable says
the latest guidelines call for a ceiling of four mln cgrt in the year to march 31
he said brazils current quota reflects the reality of the market allows for an orderly supply and satisfies demand but added more clarity was needed to assess the criteria that determined it
year to feb 28 shr 17003 cts vs 15330 pre tax 3733 mln rand vs 3410 mln net 3733 mln vs 3365 mln tax nil vs 45 mln final div 900 cts making 1600 cts vs 1450 div payable april 24 register march 20
jordan is to receive 988 mln dlrs in loans to finance development projects planning minister taher kanan said
peter greenbaum of smith barney harris upham and co said several areas including transport equipment should have bounced back
the designation of these loans as non accrual reduced the banks earnings by about 22 mln dlrs after tax chairman allan taylor said in a statement
national distillers dr closes almaden sale
however jiji quoted the sources as saying the central bank would not take such actions as guiding interest rates higher
a face off was averted when turkey confined its research to territorrial waters
borg warner bor board oks sale of unit
london on rise as trading centre in us debt
lindner who holds his taft stake through american financial and its subsidiaries said he is also considering buying more taft stock on the open market or in private deals
the bond will be available in denominations of 1000 and 10000 dlrs and will be listed in luxembourg and frankfurt
asked if he would raise the issue at the next federal open market committee meeting he said even at previous meetings commodity prices were raised he added i would not expect future meetings to be different from past meetings in that respect
brazilian coffee rainfall
colombia coffee registrations remain open
pearson concentrates on four sectors
gaughan said that earlier this week he told representatives of the company whose identify he did not know that chartered vessels flying the us flag would be protected the newspaper reported
argentine meat exports lower in 1986
bouygues holds a 50 pct stake in the winning consortium giving it a 25 pct stake in tf1
new zealand will continue firm monetary policy
the china based joint venture would process portland aluminium and aim to sell aluminium products to the domestic chinese market as well as for export jolly said
it said the acquisition is part of its ongoing stategy to restructure its core businesses through cost reduction programs and the purchase of compatible companies
itoh and co
another speculated that lindner might bid but he speculated the investor would not really be interested in running the company
six black miners have been killed and two injured in a rock fall three km underground at a south african gold mine the owners said on sunday
shr 86 cts vs 99 cts net 435610 vs 497160 sales 166 mln vs 177 mln note 1986 year net penalized 13 cts shr from loss of investment tax credits
we urged the congress to go on record through a resolution stating its commitment to protect the stock beesley said
on may 11 baxter and carmark announced a definitive agreement for baxter to acquire carmark in a stock transaction valued at 528 mln dlrs
japan slightly reduces sugar consumption estimate
bell chairman robert holmes a court who is also a director of standard was not available for comment on his companys intentions in boosting its holding and other company officials contacted here by declined to comment
the company has agreed to permit the group and its potential lenders to perform a due diligence review of service america it said
but bankers who attended the meeting with gros said it was inconclusive
santos has a 60 pct stake in the block delhi petroleum pty ltd has 30 pct and south australian oil and gas corp pty ltd has 10 pct
they have to realise that the more our economies suffer the less capcity we have to buy their goods and repay the regions 360 billion dollar foreign debt geplaceas latorre said
mccormick capital mkor 1986 year net
correction two brazil shipping firms settle in todays sao paulo story headlined two brazilian shipping firms settle with strikers please read in second para offer from the companies global and flumar instead of offer from the companies globo and flumar corrects name of first company
it could take weeks before the extent of the compensation claims for passengers crew and cargo was known and also before it was known how much if any of the ship could be salvaged said david larner of lloyds
china where the affected areas have received between 40 and 75 pct of normal rainfall will have to wait for the may september rains it said
theres no doubt consumption will be higher than production by the fourth quarter and stocks are not that high said an international trader in tokyo
bank of america nt and sas bacn west german branch said it is negotiating the sale of bankhaus centrale credit ag a small local west german bank it acquired in 1965 and of its west german visa credit card operation
british banks are resisting signing a 76 billion dlr rescheduling package for mexico in a last ditch effort to get all participants to contribute equally to a new 77 billion dlr loan contained in the package
however silver was less likely to continue to outpace the other metals by such a margin montagu said
hk dealers say nakasone g 6 comment too late
ongpin said the philippines 7 1 2 year grace period was better than mexicos seven year grace period while the pins proposal would result in savings of foreign exchange and generate pesos which would be reinvested in domestic enterprises
frances cne issues 650 mln franc domestic bond
the total wheat import target this year has been set at 700000 tonnes down from actual imports of 758770 last year
otherwise he said the trade deficit would be resolved either through a much lower dollar or a us recession both alternatives he termed unacceptable and undesirable
the sources quoted miyazawa as saying japan is trying to prevent a further rise of the yen
shr 13 cts vs 41 cts net 1079100 vs 3535205 revs 136 mln vs 162 mln note current results for 16 months after change in fiscal year end to december 31 from august 31
the agriculture department is not considering any major changes in its pricing system for posted county prices an agriculture department offical said
american medical international inc 2nd qtr shr profit 32 cts vs loss 95 cts
lawson said he expected intervention to be sterilised by draining excess sterling liquidity from the market through new issues of government securities and foreign currency sales when the market allowed
the bond is guaranteed by the parent
gold was fixed this morning in london at 41130 dlrs
the smelter continues to operate with available concentrate from stockpiled supplies noranda said
spectra physics said it also filed a lawsuit in delaware federal court this morning seeking to enjoin the offer and alleging among other things that the offer vilates federal securities laws certain agreements between ciba geigy and spectra physics and ciba geigys fiduciary duties
mcdonalds corp issued a 75 mln canadian dlr bond paying 8 1 2 pct over five years and priced at 101 5 8 pct
the study has not been officially released due to objections from some countries
for the first half of 1986 quaker reported net income of 260 mln dlrs on sales of 4735 mln dlrs
government sources said nakasone would try to resolve growing bilateral trade friction and discuss the june venice summit of western industrial democracies
romero said the philippines was at the end of a five year coconut production cycle which showed production tended to fall after two successive years of good harvests
shr profit five cts vs loss 18 cts net profit 91000 vs loss 355000 revs 115 mln vs 117 mln nine mths shr profit six cts vs loss 145 dlrs net profit 127000 vs loss 2846000 revs 318 mln vs 349 mln
the company said its board approved a plan to discontinue the operations of three subsidiaries which are primarily involved in direct mail marketing
he said he thought west germany would instead come under pressure at the summit to adopt similar stimulation measures to jack up faltering economic growth
the debentures are convertible into the companys common stock at 6350 dlrs per share representing a premium of 181 pct over the stock price when terms on the debt were set
the head of another foreign bank said that only a month ago the bank of spain had dismissed his suggestion of a rise in reserve requirements preferring to pursue its strategy of raising interest rates
alcan aluminium ltd is closing its aluminum smelter in ludwigshafen west germany this june due to high operating costs an alcan spokesman said
cotton said it bought the stock for investment purposes only
thermo electron corp said it has entered into talks with underwriters on the possible public sale of a minority interest in its packaged cogeneration systems subsidiary tecogen inc
shr 135 dlrs vs 127 dlrs div 39 cts vs 39 cts prior net 14291000 vs 13211000 revs 526 mln vs 511 mln avg shrs 10234000 vs 9936000
armistice eludes ec and us in spaghetti war
this compares with the banks estimate of the liquidity shortage of around 450 mln stg raised from its early forecast of 400 mln stg
in addition to lloyds telexes were sent by national westminster bank plc barclays bank plc midland bank plc 27tandard chartered bank plc and royal bank of scotland plc
group raises texstyrene foam stake to 117 pct
early morning gusty winds brought the wind chill to 15 and 25 degrees below zero
usx corp chairman david roderick called for a lower value for the us dollar against other currencies to help speed a correction in the us trade deficit which last year reached 170 billion dlrs
pepsico climbed 7 8 to 34 3 4 on 615000 shares by midmorning
period ended jan 31 shr loss three cts vs loss two cts net loss 183500 vs loss 163800 sales 608800 vs 1156100 year shr loss 16 cts vs loss 21 cts net loss 1128600 vs loss 1081600 sales 3811200 vs 6968700
conrac cax exploring restructuring buyout
recurrent profits of manufacturing industries are projected to rise 296 pct next fiscal year against an estimated 401 pct fall in the current year
taiwans central bank issued 12 billion taiwan dlrs worth of certificates of deposit after issuing six billion yesterday bringing cd issues so far this year to 11547 billion dlrs a bank official told 
wardair international ltd year net
bc resources also said dividends on its series 2 preferred shares and exchangeable preferred shares will remain suspended
gidel also noted that marketings for the early part of march are running ahead of a year ago
allwaste inc said it agreed in principle to acquire all outstanding stock of a company in the industrial service business for 198 mln dlrs in common stock
manufacturers hanover corp filed with the securities and exchange commission for a shelf offering of up to 82225 mln dlrs of debt securities on terms to be determined at the time of the sale
the company said the stock was acquired through recent open market purchases and the stake does not require specific disclosure
investor acquires 99 pct of munford mfd 
swedish match ab smbsst said it was selling one of its portuguese subsidiaries sociedade de iniciativa e aproveitamentos florestais sarl siaf to the porto based sonae group for an undisclosed price
however baldrige warned measures that would penalise trading partners such as japan south korea and taiwan for failing to cut their trade surpluses with the us could lead to retaliation and he said he would urge reagan to veto any such bill
us bancorp oregon said it has been advised orally that its application for the acquisition of old national bancorp has been approved by the board of governors of the federal reserve
us bancorps pacific state bank of lincoln city said it plans to merge with us bancorps us national bank of oregon
weizsaecker arrived for a four day visit opening a latin american tour which includes bolivia and guatemala
qtr ended jan 31 shr 33 cts vs 29 cts net 148 mln vs 11 mln revs 1086 mln vs 700 mln avg shrs 452 mln vs 376 mln nine mths shr 88 cts vs 76 cts net 367 mln vs 287 mln revs 2604 mln vs 1930 mln avg shrs 419 mln vs 378 mln note net for nine mths includes gains from dispositions of 1783000 dlrs or four cts a share vs 900000 dlrs or two cts a share
north american biologicals inc nbio 4th qtr
legal wrangles continue
the company said burger king and another pillsbury unit qsv properties will be the master limited partnerships general partner
trade minister mike moore told his colleagues at a welcoming ceremony before two days of talks here that great progress had been made in preparing for the negotiations which must not be sidetracked
benihana national corp said it signed a letter of intent with tishman realty and construction co inc to build a teppanyaki style restaurant at the hilton hotel at walt disney world village in lake buena vista fal
dutch government revenue is being depressed further by falling income from natural gas sales in 1987 the cpb said
few are willing to predict a sharp upturn in economic activity but one banker said the top 50 pct of the saudi banks are now at or close to international levels on provisions from 1982 to 1985 the kingdoms largest bank national commercial bank ncb stashed away 17 billion riyals in provisions or 89 pct of its total loans and advances to the private sector bankers calculated
another problem is a lack of liquidity in the existing markets owing to lack of private investor participation
newmont said magma has pre tax losses of 290 mln dlrs during the 1981 through 1985 period noting the five major us primary copper producers reported aggregate pre tax losses of 19 billion dlrs during five year period
underwriters noted that korth and painewebber along with co managers ag edwards and thomson mckinnon have strong retail bases
the seasonally adjusted volume index base 1980 a guide to underlying non oil trade showed exports rising to 1310 from 1146 in january and imports rising to 1422 from 1365 the value of british oil exports in february rose to 751 mln stg from 723 mln in jnauary while oil imports rose to 425 mln from 352 mln
transact intl inc tact 3rd qtr jan 31 net
merry go round mgre sets stock split
hopes of a cut were dashed on tuesday with an allocation at an unchanged 380 pct
yesterday afternoon the bankruptcy court issued a temporary restraining order prohibiting transamerican and coastal from taking any action in any court that would interfere with the jurisdiction of the bankruptcy court
the official international business newspaper today published chinas demands in a editorial to coincide with the visit of us secretary of state george shultz
qtly div 15 cts vs 10 cts prior qtr pay 17 april record 3 april note great lakes federal savings and loan is full name of company
goldman sachs and co is lead underwriter for the offering
while us bankers obviously see things differently some have started to wonder whether the advisory committee is still the right tool for the job
sight deposits of commercial banks at the swiss national bank fell 288 billion swiss francs in the first 10 days of march to 765 billion the national bank said
a rise of this size would be the largest since the fourth quarter of 1984 when industrial output rose 27 pct the officials said
instead aspects of the computer were integrated into the ibm 9370 machine introduced last year and other aspects should be unwrapped by 1988 martin said
kansas legislator to offer us 0 92 bill today
morgan guaranty ltds hong kong office will act as dealer for the australian dollar issues
the outlook for 1987 remains at 250 dlrs to three dlrs
federal express corp 3rd qtr oper shr 69 cts vs 83 cts
an italian press report today said montedison has agreed to acquire antibioticos for 500 billion lire
new zealand to repay up to 600 mln dlrs of debt
dutch investment bank raises 310 billion yen loan
loh told in an interview that singapore banks see limited growth in credit risk
the terms and conditions of the offer will be described in documents to be filed with the securities and exchange commission and mailed to conrac shareholders as soon as possible
with 900 mln dlrs of proceeds available to reduce debt the financial profile should also improve
iran is preparing lawsuits to file for compensation from the us over the american raid on its gulf oil platforms tehran radio quoted iranian oil minister gholamreza aqazadeh as saying
seal inc sinco 2nd qtr april 30 net
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
were just wondering if hes not just trying to get twa into play
esselte ab esbst 1986 results
i am confident that problems between the two big partners the gcc and the ec will find a solution
analysts said gaf already has a large profit built into its borg warner holdings
us feedgrain 0 92 supporters evaluate position
silicon graphics sgic sells convertible debt
shr 39 cents vs 42 cents interim dividend three cents vs same group net 358 mln ringgit vs 391 mln pre tax 773 mln vs 998 mln turnover 116 billion vs 105 billion note dividend pay may 22 register april 24
the proxy statement filed with the securities and exchange commission is required for a november 5 shareholders meeting called to approve the previously announced acquisition of southland by a company controlled by southland chairman john thompson and members of his family
transform logic corp said it has revised downward its previously reported fourth quarter and year ended october 31 results to reflect compensation expense for employee stock options
prime minister yasuhiro nakasone intervened to try to resolve japans escalating dispute with the us over semiconductor trade government officials said
he said the countrys balance of payments was now projected at a surplus of about 12 billion dlrs in 1987 compared with a surplus of about 11 billion dlrs in 1986 and a previous projected deficit of 12 billion dlrs this year
both saudi american owned 40 pct by citicorps ccin citibank na and saudi french 40 pct owned by banque indosuez increased provisions sharply
it said the companies may form a joint venture partnership to bring the mine to full commercial production
sens
our employees are asked to continue to return to work at 8am unless otherwise notified he said
prime gave no reason for the termination of the talks with national hmo
73 pct owned by kelsey hayes co
other us options would be to appeal the decision in canadian courts or to retaliate against canadian goods a lower level us trade official said
southam inc said its flyer force unit acquired three community newspapers in winnipeg with a combined circulation of 65000 for undisclosed terms
co lead managers are new japan securities wako securities and yasuda trust
loius dreyfus 3700 tonnes number two yellow corn 145 pct maximum moisture for apirl 10 may 5 at 7629 dlrs fob gulf
echlin inc ech dividend increased 12 pct
echo bay has nevada gold discovery
slightly more than half of this payment will be in cash von garlem said but he said this will not markedly upset the 50 50 ratio since most farmers got advance payments
closing stocks at the end of february were 270212 tonnes up from 196309 tonnes at end february 1986
morgan crucible says prospects are encouraging
over the year these firms had total losses of 83 billion dlrs up from 36 billion dlrs in 1985
a spokeswoman for exxon was unable to say whether secondary market trading in the notes had been affected or who would have legal responsibility for reimbursing defrauded investors
several of the companys telephone units may be faced with a reduction in the rates of return authorized by their regulators reuss said
quinn of ef hutton said wang has a proven track record of completing acquisitions without earnings dilution
tokheim corp tok 1st qtr feb 28 net
throughout the talks which began on march 9 producers had strongly opposed a consumer proposal to lower the reference price and the lower indicative price or floor price of 150 cents in the present pact if the buffer stock currently 360000 tonnes reached 450000 tonnes
it noted that an additional one mln tonnes of us corn had been bought recently by the soviet union
japanese investment at home could start to pick up once markets have stopped reacting to wall street the managers said
we have already seen substantial progress baker said in a miami herald article and argued the plan was never meant to be a quick fix but brazil ecuador peru nicaragua and bolivia have all ceased servicing some or all of their debt
citicorp cci sees doubling in retail bank net
transamerica corp ta quarterly dividend
us 4 year note average yield 679 pct stop 679 pct awarded at high yield 95 pct
both firms have been struggling with losses caused by the recession in the steel industry and the yens appreciation
the company said no damages were set in the courts ruling
giant yellowknife mines ltd 4th qtr net
the company said it has filed for an offering of four mln common shares and 150 mln dlrs of subordinated debentures due 2017 with proceeds to be used to refinance the short term bank debt incurred for the accuray acquisition to finance other costs of the transaction and for general corporate purposes
egypt buys pl 480 wheat flour us traders
the japanese officials also declined to detail what miyazawa and baker discussed on the subject of greater joint intervention in currency markets to stabilize the dollar or on independent american intervention
the company said it had bought a total of 40 companies during the year for a total price of some 180 mln stg
new venezuela debt interest rate goes into effect
herrington also said he believed president reagan who requested the comprehensive national security study was committed to some action to help the ailing us oil industry
the company said that it added about four pct to production bringing it to 18 mln bpd the highest level since 1979 based largely on increased production of oil overseas but additions to its reserves from new discoveries and reserve acquisitions did not replace all of the oil and gas produced
the us is not opposed to short term measures as long as they are directly linked to long term commitments to end major trade distortions samuels said
the exercise period of the a warrants will be three years and of the b warrants five years
we want to call this a sugarcane industry instead of the sugar industry he said sugarcane could be fed to pigs and livestock used for thatching roofs or used in room panelling
and if the market starts regarding anything that comes out negatively then it means that the underlying sentiment is negative he said
its capital structure will be strengthened and interest expense reduced as a result the company noted
austria has decided to redeem six years early a 20 billion yen 12 year 85 pct samurai bond due on august 18 1993 daiwa securities co ltd said as lead manager
ec grants licences for 35000 tonnes barley at 13735 ecus rebate brussels trade
a bp statement said its cut came as a result of a price review occasioned by substantial changes in the lpg market bp last lowered its posted propane price from 175 dlrs a tonne on march 1 and shell uk s last change was from 113 dlrs may 1
orders received by the machinery and plant sector 11 member companies which comprise the core area of the group rose by four mln marks last year to 69 billion krupp said
france and yugoslavia agreed to set up a joint economic commission as part of efforts to promote commercial links and industrial cooperation between the two countries
sheldahl shel votes three for two stock split
net includes tax credits of 2970000 dlrs vs 980000 dlrs in quarter and 5210000 dlrs vs 1590000 dlrs in half
hughes gmh elects chairman
costa ricas economy minister said he sees new hope for winning changes in the international coffee organisation system of export quotas
john cotton an arizona businessman told the securities and exchange commission he has acquired the equivalent of 213500 shares of class a common shares in del e
the economists generally agreed that the fed is aiming for steady policy now that should correspond to a weekly average fed funds rate between six and 6 1 8 pct
kirnan raised his earnings estimates slightly today in part in reaction to the announced buyback and sees gm earning 565 dlrs this year and 975 dlrs in 1988
honeybee inc hbe 4th qtr net
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
reynolds told the shareholders friends and family members have been telling him bill just dont pay greenmail to end the takeover threat
he said the poor results were caused by a range of exceptional circumstances wholly outside our direct control and predicted a return to profitability this year
advanced institutional aims cuts workforce
shr 73 cts vs 58 cts net 1101000 vs 901000 sales 329 mln vs 291 mln note results include operations of bmd of new england inc acquired sept
now it is beyond the reach of many small investors pldt common stock surged from a low of 37 pesos in february 1986 to 36750 at close of trading yesterday on the manila stock exchange
questions would then be presented to china
we used to have a forward market he said
new chief elected for world sugar organisation
belgolux trade swings into january deficit
williams rose 2p to 742
convenient food mart inc said it has tentatively agreed to buy all the outstanding stock of plaid pantries inc and two associated businesses in oregon and washington for undisclosed terms
treasury balances at fed fell on march 10
as a result the overall economic and financial situation improved markedly with inflation down to 41 pct last year from 100 pct in 1983
buehrmanns board chairman adriaan overwater told reporters he expected 1987 turnover to grow more rapidly than in 1986 when net sales posted only a 44 pct rise to 34 billion guilders while profits were up 63 pct to 932 mln
sales 206 billion stg vs 220 billion
we live in troubled and dangerous times for the world trading system he said
dutch state owned chemical group nv dsm is launching a 150 mln guilder dual currency bond with a 7 1 4 pct coupon due 1992 and priced at par lead manager algemene bank nederland nv said
le peep restaurants inc lpep 4th qtr loss
1st central financial fcc sees higher earnings
shr 33 cts vs 28 cts net 3722000 vs 3103000 sales 330 mln vs 318 mln avg shrs 112 mln vs 111 mln 1st half shr 68 cts vs 58 cts net 7585000 vs 6346000 sales 659 mln vs 613 mln avg shrs 112 mln vs 110 mln note share adjusted for three for two october 1986 stock split
it said it remains willing to negotiate all terms of the proposed acquisition
french official reserves 42050 billion francs in may vs 42024 billion april official
successful bidders the amount of crude oil and the price per bbl according to the doe are as follows texaco incs tx texaco trading and transport 15000 bpd at 1579 dlrs and 2200 bpd at 1519 dlrs beacon oil co 7000 bpd at 1566 dlrs and 2500 bpd at 1604 dlrs golden west refining 8110 bpd at 1542 dlrs
the wholesale price index same base rose to 22983 in january from 22906 in december and compared with 21797 in january 1986
overnight interbank sterling traded at the 11 1 4 1 8 pct level for most of the morning while period rates have eased on the strength of sterling dealers said
analysts said although major oil companies are increasing exploration and development overseas they expect the pickup in oil services will begin in the us activity in the us is so depressed it should move up faster said vishnu sharp of goldman sachs
i think we may be beginning to stabilize this economy
shr 19 cts vs 18 cts net 1230041 vs 1153280 sales 10909729 vs 9675355 six mths shr 31 cts vs 29 cts net 2019930 vs 1857357 sales 210 mln vs 178 mln
effective net annualised compound yield on the bills is 987 pct down from 998 pct on the previous issue of three month paper
swedens wallenberg group said it raised its holding in telecommunications maker telefon ab lm ericsson ericst
the major destinations in february were china 419196 tonnes egypt 301909 iraq 142055 japan 110261 south korea 100847 and the soviet union 100056 tonnes
imperial oil said it expects to spend about 750 mln dlrs on capital and exploration expenditures in 1987 compared to 648 mln dlrs in 1986 and 116 billion dlrs in 1985
longview fibre co lfbr quarterly dividend
amc amo takes no action on chrysler c bid
asked what would happen if the leveraged buyout group which the company did not identify topped his offer between now and the board meeting bilzerian said he expected an opportunity to respond
secondly other opec members will press for another price rise if the dollar remains weak against other currencies
rockefeller says brazil solution will be found
recent us oil demand up 23 pct from year ago
the fdic sold 52 mln shares to the public last year and has said it intends to sell the rest as quickly as possible
vista management inc to make acquisition
mexico to sign 77 billion dlr loan friday
taking the two months together the seasonally adjusted surplus was slightly below the figure for the previous two
bull and bear equity income fund bulax div new york march 12 qtly div eight cts vs eight cts prior payable march 31 record march 18
humana said it is now aware of any effort to gain control of the company
terms were not disclosed
generale de banque heller buy factoring unit
belgian minister unveils privatisation plan
yeutter says budget cut key to better us trade
pegasus said it began mining and processing operations at its zortman landusky mine one month ahead of schedule
mitsubishi buys into danish dairy product firm
companies will henceforth be able to own stakes in banks but these should not constitute a dominant holding an italian government committee ruled
as a result of the dispute over payment of the promissory note the law suit challenging its financial data and the various investigations concerning insider trading the company said it no longer expects that anticipated declines in instrument sales in japan in fiscal 1987 will be offset by increased instrument sales in other foreign countries and the united states
sprint optimistic despite losses
the imf team also urges belgium to adopt a firm interest rate policy with a particular emphasis on long term rates
west german government officials have stressed bonn is not in a position to stimulate growth further since tax cuts due next year and 1990 are already stretching the budget
henley groups chairman michael dingman has said he wants to take major positions in undervalued natural resource companies
bankers trust co said it raised its broker loan rate to 7 1 4 pct from seven pct effective immediately
the president vice president former president director general and four other managers at the southern italian cassa di risparmio di calabria e lucania carical had been released but were still under investigation for an alleged embezzlement conspiracy
the congressional budget office estimated that the proposed increase in the minimum tonnage requirement would have cost up to 50 mln dlrs per year senate staff said
japanese demand for uk gilts seen rising
eastman kodak co files 900 mln dlr debt shelf registration
he said squibb was the good partner because squibb has a major joint venture in japan and has sales capabilities of its own in that market
chevron corps domestic oil and gas unit chevron usa said it will honor american express cards at all of the companys chevron outlets but only some of its gulf branded outlets
townsend thoresen say the ship built at the west german yard of bremerhaven in 1980 was built to the highest safety standards
national capital real estate trust said it has entered into a definitive agreement to sell its irvine commercial center in irvine calif to shuwa corp of california for 1085 mln dlrs
john wiley and sons inc willb sets quarterly
the industry also faces transport problems due to zambia being landlocked
american brands inc said it filed with the securities and exchange commission its financial statements for fiscal 1986 in connection with its previously announced offering outside the us of its 50 mln stg 9 1 2 pct notes due 1994
concern that finance ministers and officials still in washington could issue more concrete statements in favour of currency stabilisation kept players sidelined along with worries about provoking fresh central bank intervention in the near term the traders said
analysts said the central banks moves to stifle sudden upward movement leave the market uncertain about its next step
a bank of japan official also said the central bank will renew its call on financial institutions to moderate excessive loans for the purpose of land and securities investment as such investments threaten to cause inflation
malta tenders for white sugar today trade
the government of japan reaffirmed its intention to further open up its domestic markets to foreign goods and services
lyng called us and european community export subsidies just plain nonsensical as a long term policy and said he saw an end to the expansion of the eep
the western name was to have disappeared at midnight last night
the eiu said in its world trade forecast it revised oecd economic growth downwards to 25 pct this year compared with a 28 pct growth forecast in december
i expect it to continue in that vein excess reserves fell but they are still over a billion dlrs added first chicagos johnson
sayam bank has existed since august 1984 when the finance ministry took over and re named the asia trust bank ltd
yesterday icahns transworld airlines inc twa made a 14 billion dlr offer for usair group
the shares later eased back to 481p
they said japan submitted a report earlier this month alleging south koreas plan to import less from japan and more from the us and elsewhere was tantamount to creating non tariff trade barriers
singapore to spend 12 billion dlrs on ports
1987 2nd quarter and six mth net excludes 2288000 dlrs or 17 cts a share and 4648000 dlrs or 33 cts a share respectively for tax carryforwards
she estimated a takeover price would be at least 15 dlrs per share
one yen bond manager said japanese financial authorities are giving up a lot of their control in liberalising the rules governing international transactions of the yen
both are payable may one to holders of record april 10
the current management will remain in place and the unit will continue at its locations in wrexham uk the company said
mitsubishi ny branch sets us cd note program
chancellor of the exchequer nigel lawsons budget speech was described as sound and well balanced by analysts if slightly lacking in excitement
oper shr 96 cts vs 79 cts oper net 437 mln vs 364 mln sales 148 billion vs 115 billion note 1987 sales includes operations of sperry aerospace
he said much of the strength came from factors that do not point to a sustained rise in industrial output
instead of seeking to slash the domestic sugar program huckaby said the reagan administration should file a complaint with the general agreement on tariffs and trade against the european communitys sugar policy
the total includes two billion francs of 13 week bills 25 billion francs of two year bills and three billion francs worth of five year bills
however the european coffee trade federation meeting which began here today and is to continue to the end of the week has revealed gaps in the european position on re introducing quotas
if the soviet needs are greater than we have been thinking then they might need more than what argentina can provide during the april to june period he said
k mart km raises payout votes split
neyra told that peru was current on interest payments on short term debt including the trade credit lines and on about 750 million dollars in so called working capital credits
he reported that the 23 mln dlr hydrocal ii system under construction at the companys refinery in princeton la is on schedule and production will begin early in fiscal 1988
korea said it is choosing many of the 122 items on which the us wants it to cut import tariffs in order to deflect pressure for currency revaluation
it said it would pay an unchanged dividend on its ordinary share capital which is entirely in private hands and held largely by family foundations
de croo also said he thought the community would postpone its april 28 deadline for imposing new slaughterhouse rules to cover all meats brought into ec nations if some progress was made toward resolving differences with the united states
european markets react quietly to g 7 communique
us treasury selling 25 billion dlrs of notes
tenney engineering inc tny 4th qtr net
about 200 people are feared dead after a british cross channel ferry rolled on its side off the belgian coast last night but almost 350 passengers were plucked to safety from the ice cold sea
nj nicholas president and chief operating officer said the company might be interested in a relatively small book business
gc goh chief dealer of the standard chartered bank said prime rate increases by citibank and chase manhattan bank to 7 3 4 pct from 7 1 2 may prompt hong kong banks to follow suit
peru will sell about 40 state owned firms to trim a projected 740 mln dlrs loss this year among government owned companies
chase banks steinhaeuser and other frankfurt dealers said the g 7 communique guaranteed a relatively calm and stable market for the foreseeable future compared with the extreme volatility seen in the first few months of this year
because the fiscal deficit has been reduced to some four pct of gross domestic product money supply could be increased to pay for the drug eradication drive without too much of n impact on inflation he added
charter power systems inc chp 1st qtr
the sources added that volcker for his part is dissatisfied with some major banks refusal to make interest rate concessions to brazil and other latin american debtors and would like to see smaller creditor banks take a more actve role in the rescheduling process
to salvage the pact tokyo has instructed its chip makers to slash production and has helped establish a multi lateral organisation designed to promote chip imports
it said the measures were the latest steps to deregulate spains financial sector a move triggered by entry into the community last year
the utility said transcontinental will transport the gas being purchased from shell oil possibly beginning as soon as november 1
underwriters are wood gundy inc gordon capital corp merrill lynch canada inc burns fry ltd and midland doherty ltd
standard and poors corp said it downgraded 17 billion dlrs of debt of united technologies corp and subsidiaries
dyncorp dyn 3rd qtr net
nonetheless the dollars sharp fall has not undermined cooperation
to fitness inc said it has been named exclusive florida distributor for the hardpack version of the frozen dessert tofutti by tofutti brands inc tof replacing pillsbury cos psy haagen dazs
in trading earlier today traders said prices of several dated frns had firmed slightly and that some buyers were beginning to re enter the market
planning chief nikolai talyzin told the supreme soviet industrial output should rise by 45 pct in 1988 up from a planned 44 pct in 1987
the yen should stabilize at around 152 to 153 to the us dollar for about a year the bank of tokyos economic adviser koei narusawa said
channel ferry reported sinking off belgium
the bond features a sinking fund from 1989 which will retire 10 mln ecus worth each year thereafter giving the issue an average life of four years
dick darman has contributed mightily to the success of this administration over the past six years and his departure represents a substantial loss he said
the may consumer price index which has the same base rose 14 pct to 1491 after a 03 pct gain in april for a year on year rise of 35 pct
cut were the companys first mortgage bonds and secured pollution control issues to baa 2 from baa 1 and eurobonds unsecured pollution control debt unsecured medium term notes and preferred stock to baa 3 from baa 2
still mccarthy said it may have had a cumulative miss in its estimates over the week that caused it to add fewer reserves earlier in the week than were actually needed
malaysia may not meet 1987 oil palm target
parisian inc pasn 4th qtr jan 31 net
us naval forces destroyed an offshore oil platform and raided another in what the administration called a measured and appropriate response to an iranian silkworm missile attack last friday on a us flagged tanker in kuwaiti waters
it said the reserves were equal to about five months worth of imports
iomega corp iomg expects qtr and year losses
atlas consolidated mining acmb 4th qtr
chase corp ltd chcawe said it will make an offer for all fully paid shares and options of entregrowth international ltd it does not already own
the chase economist also said commodities markets were depressed and generally did not appear very promising for a country like brazil where pure commodities account for some 50 pct of exports and in 1986 had a total value of around 23 billion dlrs
dart said sgl representatives said the company has not received any other offer
the future of the stock will depend on the firms ability to creatively structure some new acquisitions said hargreaves of hoare govett
jones and vining inc said vulcan corp one of its main competitors in the production of shoe lasts has offered to acquire jones and vining for five dlrs a share
that is our definition of the delay she said
mti did not say when the devaluation would become effective but it expected new rates to be announced later today
it said it plans to reply in detail to issues raised by evans but its immediate concern was the decision to proceed with the current resource rental tax rrt legislation
jumardi jukardi head of pertaminas foreign contractors coordinating board gave no details about the outcome of the talks
south africas trade surplus rose to 162 billion rand in february after falling to 9062 mln in january customs and excise figures show
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
major cocoa exporters are likely to limit sales in the weeks ahead in an effort to boost world prices sources close to a meeting of the cocoa producers alliance cpa said
bellofram corp and railway maintenance equipment co have already been sold
canada panel advises cutting us corn duty
montedisons agrimont unit 1986 earnings
in particular the stability sought by the nations would allow west germany and japan to stimulate their economies domestically and the us to cut its budget deficit mulford said in his testimony
doubts about accord seen weakening dollar further
weston named drexel burnham lambert inc as sole manager of the offering
manpower fertiliser and other costs have been cut back as farmers feel the pinch of the rise in interest rates over the past six months coupled with low bean prices
swedens industrial production fell 18 pct during january compared with a fall of 08 pct the month before and remains unchanged compared with january 1986 according to figures from the central bureau of statistics
in the european mediterranean area the rig utilization rate rose 06 pct to 536 pct against 673 pct one year ago
in particular they said it had become clear that argentina was serious about its threat to suspend interest payments unless it got a good deal
weve captured the fiber high ground shown the importance of it he said
in canada the weekly rig count rose 19 to 100 compared to 46 working rigs last year
banks took up the bundesbanks standing offer of treasury bills to place excess liquidity
policy management systems corp said it has acquired the majority of the assets and business of allied research inc of salem ore and consolidated insurance services inc of springfield va for undisclosed terms
crude oil which early last year slipped below 10 dlrs a barrel has since crept back to over 18 dlrs
it said the junior subordinated debentures to be issued in the subsequent merger will carry a 13 pct annual interest rate payable twice a year
the conversion price into storehouse ordinary shares has been fixed at 346 pence which represents a premium of 984 pct over last nights 315 pence closing share price
sixteen governments signed the paris club umbrella agreement last september which restructured 18 billion dlrs of official debt and petricioli said he hopes to finalize pacts with the remaining eight countries in the next few weeks
shr five cts vs one ct net 196986 vs 37966 revs 155 mln vs 8900000 nine mths shr 52 cts vs 22 cts net two mln vs 874000 revs 537 mln vs 286 mln
lowes cos inc low qtly div
the underlying rise was 75 pct after 775 pct in december
the non callable issue is of direct unsecured unsubordinated debt
qtly div 27 1 2 cts vs 27 1 2 cts prior pay april 15 record march 31
manufacturers hanover which chairs a 12 bank advisory committee that agreed the terms of the deal in late february said all of chiles creditor banks have approved the package
but sentiment now looks to have turned about again
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
instron corp isn sets quarterly
this eliminated the widespread market caution against possible joint central bank intervention kidokoro said
ferruzzi said the acquisition of these assets would extend its presence in the european agro industrial industry both geographically and in terms of products
bullet loans have attracted considerable foreign demand but have also given rise to worries their fixed repayment date might interfere with intricate redemption schemes built up around previously issued split maturity bonds dealers said
shr profit 30 cts vs profit three cts net profit 3933000 vs profit 436000 revs 704 mln vs 472 mln avg 132 mln vs 130 mln nine mths shr profit 85 cts vs loss 17 cts net profit 112 mln vs loss 2083000 revs 1921 mln vs 1448 mln avg shrs 132 mln vs 120 mln
negotiations will resume next tuesday he said
ida extends 371 mln dlrs in africa loans
senator urges action to stabilize stock markets
japan is doing all it can to solve its trade problems with the united states but the two nations will remain at odds as long as the trade account is lopsided in japans favour a senior official said
in petitioning the sec de los angeles amended an earlier suit two weeks ago in which he charged smc chairman andres soriano iii and nine other directors of violating their duties
ceco corp repurchases 20 mln dlrs in notes
total liabilities fell to 1221 billion rand in march after rising to 1362 billion in february
finlands neste oy whose turnover last year was over five billion dlrs has extensive experience with mtbe
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
clevite industries inc clev 4th qtr oper loss
if the farm credit system were the guarantor of the pools of farm mortgage loans it would benefit from the fees charged for providing this service the life insurers study said
the chairman said in the past two years akzo had spent 11 billion guilders on acquisitions of which nearly two thirds were in the united states
individual west europe country estimates in 1000 hectares with 1986 figures in brackets are belgium luxembourg 114 118 denmark 69 69 france 419 421 greece 35 44 ireland 36 38 italy 270 275 netherlands 129 138 portugal 1 1 spain 192 190 uk 200 201 west germany 385 399 austria 32 28 finland 30 31 sweden 51 52 switzerland 15 14 turkey 355 340 yugoslavia 160 136 eastern europe plantings are forecast as follows ussr 3400 3440 albania 10 9 bulgaria 52 50 czechoslovakia 195 196 east germany 210 205 hungary 108 96 poland 460 440 romania 295 280 on the basis of average yields this year licht said these area forecasts pointed to a total european beet sugar crop in 1987 88 of 298 mln tonnes raw value down from 314 mln tonnes in 1986 87
however if a subsidy is offered at competitive levels moscow would likely buy more he said
bank of france cuts seven day repurchase rate to eight pct from 8 1 4 pct official
in fact he said theres a chance those banks could get more involved in the future
as of dec 31 1986 nonperforming brazilian outstandings were about 41 mln dlrs it said
in a letter to treasury secretary james baker the group said sanctions should be imposed against japanese chipmakers as of april 1 and should continue until the united states is satisfied that there is full compliance with the agreement
it said exports over the period rose by 87 pct to 1238 billion dlrs and imports by 89 pct to 1464 billion for a trade deficit of 226 billion against a 206 billion deficit in the same 1986 period and 178 billion deficit previously
the company said new york investment banking firm matthews and wright has arranged 7300000 dlrs in tax free industrial revenue bonds and 4700000 dlrs in conventional bonds
the 11254837 acres of highly erodable farmland submitted to the us department of agriculture for the conservation reserve program was within trade guesses of 10 12 mln and should have an overall neutral impact on grain and soybean prices monday grain traders said
the managers of the facility are westpac bank of montreal asia ltd bot international hk ltd commonwealth bank of australia and credit industriel et commercial de paris
negotiations between indonesias state oil company pertamina and foreign oil contractors on extension of the standard 30 year production sharing contract will be concluded by the end of this month a pertamina official said
english in a telephone interview said the sec staff planned to allege that wppss had overstated the demand for power in the region and had understated the cost of the plants which were to built with the bonds proceeds
a tight money market has pushed interest rates on three to six month time deposits to between 15 and 18 pct from 13 to 15 pct a month ago bankers said
there is going to be more rain for the next two three days he said
the ec is no more illiberal on trade issues than is the us said martin wolf director of studies at the trade policy research centre in london
the sources said the depressed world market had been one of the main topics discussed in a closed door meeting of the 11 member cpa which began on monday
no underwriter was named
christians said this 193 billion mark rise was partly due to its increased activity in international share placements with some shares such as those from fiat spas international placement last year remaining on its books
but others disagreed
j bildner and sons inc jbilo year jan 25 net
a regular meeting of the politburo heard that in march industry achieved the average daily rate needed to fulfil annual targets
the final certificate payments will be very close to 300 mln dlrs he said
indias annual inflation rate drops marginally
the company said if the decision to disallow the other 20 mln dlrs is not changed earnings would be penalized by another 19 cts
the study was released earlier today
the number of foreign banks has risen to 16 from just two in 1981
it said efforts to wind up the banks affairs were proceeding as quickly as possible
hu said while the new government securities market will be essentially domestic non residents are free to invest but interest earned will be subject to withholding tax
following the exchange there will be 4969643 shares of circuit systems stock outstanding
gould gld completes sale of division
a statement delivered by the conferences president nicaraguas external trade minister alejandro martinez cuenca said the object of future meetings would be to seek negotiations leading to basic export quotas
detroit edison co is raising 400 mln dlrs through a two tranche offering of general and refunding mortgage bonds said sole manager morgan stanley and co inc
it said each cargo should consist of 15000 tonnes
rexnord rex to redeem rights
analysts said american express and its shearson unit will benefit from the doors nippon life can open to the increasingly important tokyo financial markets
current qtr includes loss 899000 for accounting change
japans economy remains sluggish but is beginning to show signs it may bottom out soon the economic planning agency said in a monthly report submitted to cabinet ministers
traders said some of the activity stems from battles among japanese and foreign securities companies and banks for the prestige of placing a larger share of issues
gencorp gy 1st qtr operating earnings rose
the amount of a eurobond issued yesterday by walt disney co ltd has been raised to 75 mln australian dlrs from an original 60 mln lead manager warburg securities said
buehrmann tetterode said its international expansion will be aimed at the united states in particular adding that the company was pursuing wider geographical spread of assets and profits
secretary of agriculture richard lyng will meet with representatives from major grain exporting companies today and the subject of subsidized wheat to the soviet union will likely be discussed an aide to lyng said
but now both tranches have been increased by 50000 tonnes to 170000 tonnes with south korea added as a possible destination
the metals were found in rocks on the periphery of a sulphide deposit
last week carl c
standards net assets at end 1986 were 702 billion dlrs and in the year it reported a loss of 108 billion dlrs before tax and before an extraordinary item of 608 mln dlrs
the tender offer is therefore void it said
oper shr seven cts vs 20 cts oper net 347855 vs 787117 revs 6748868 vs 6849499 avg shrs 5391666 vs 4277157 year oper shr 56 cts vs 46 cts oper net 2617528 vs 2003661 revs 271 mln vs 273 mln avg shrs 4763793 vs 3377157 note net excludes realized gains on investments of 925576 dlrs vs 577389 dlrs in quarter and 1776341 dlrs vs 797932 dlrs in year
smoradas salary was not listed in the sec filing
four major japanese steelmakers plan to form a seamless pipe export cartel for markets other than the us and the european community for a year from april to keep prices above output costs company officials involved said
germanys current account surplus widened to 663 billion marks in february from 479 billion in january but was down on the 726 billion figure for february 1986
period ended december 31 1986 shr loss one ct vs profit two cts net loss 52922 vs profit 220041 revs 481832 vs 824554 six mths shr loss one ct vs profit four cts net loss 104129 vs profit 345515 revs 937685 vs 1460000
jordan has boosted its bids for us soft and hard wheat under export bonus private export sources said
us wine exports rose 15 per cent last year
most traders were surprised by this move as they had expected the bank to follow suit unconditionally they said
the cmbs financial difficulties first started in january following delays in rail freighting export consignments of coffee to the ports of mombasa dar es salaam and tanga
they said the plan could raise more than 25 billion francs in revenue over the next five years according to verhofstadts projections helping the government to reduce its huge budget deficit targetted this year at 418 billion francs
news international bond increased to 150 mln dlrs
adds dropped year of rights expiration
he told journalists the exact decline would depend on dollar developments
it hovered today around 185 marks
belgian foreign trade minister herman de croo said if congress passed legislation curbing world textile imports the only way the european community ec could react was to retaliate
the bank of england said it has revised its estimate of todays shortfall to 350 mln stg from 400 mln before taking account of 103 mln stg morning assistance
sportscene acquires christophe van houtte chain
the agricultural stabilization and conservation service ascs bought 257 mln pounds of wheat flour at a cost of 28 mln dlrs for domestic shipment april 1 15 and april 16 30 an ascs spokesman said
the underwriting margin was raised to 10 basis points over the australian dlr bank bill rate
nomura securities international inc and daiwa securities america inc were named primary dealers in us government securities in december they noted
it did not immediately disclose the affect of the change on prior years results
rb industries also said it recently secured a five year 8573 pct secured 99 mln dlr loan on its irvine property from a major institution
in their talks this week the two sides discussed the administrations previous eep offer but did not talk about any new initiative
the mahanagar telephone nigam mobilised 383 billion rupees last year against authorised 15 billion and last month the indian railway finance corporations record susbcription totalled 55 billion rupees against authorised 25 billion
it is only a matter of time before we solve this problem he told 
salomon offers units of van dusen airport lp 
it said the firm which it did not name earned about 1500000 dlrs pretax for the first nine mons of 1987
asked to comment on a report from jakarta saying indonesia hoped colombia could use its contacts with brazil to suggest a compromise on the quota issue cardenas said the brazilian stand was quite clear
atari said the debentures will not be available for us resal until at least 90 days after completion of the offering abroad
the report reviewing the countrys economy in the first three months of this year said year on year gnp was provisionally estimated to have grown by about 12 pct in the period against a 105 pct growth in the same 1986 period
shr 64 cts vs 55 cts net 140 mln vs 118 mln nine mths shr 183 dlrs vs 153 dlrs net 397 mln vs 327 mln assets 465 billion vs 453 billion loans 324 billion vs 292 billion deposits 332 billion vs 315 billion
the ec charges the accord breached gatt trade rules by allowing tokyo to set minimum prices for japanese chips sold in third countries and is requesting a gatt dispute panel be set up to review the agreement
the news corp said the south china morning post ltd of hong kong become a wholly owned subsidiary march 7 as previously announced
the sources did not give an estimate for exports in 1987 but they noted that shipments declined to 37200 tonnes last year from 41662 in 1985
five consortia have applied to buy the french state owned telephone equipment manufacturer cie generale de constructions telephoniques cgct which will give the owners control of 16 pct of the french telephone switching market sources close to finance minister edouard balladur said
pakistans foreign exchange reserves fall
swiss banks are holding talks with protestant and roman catholic officials to hear church complaints about lending to south africa the swiss bankers association said
the agency said it will repurchase treasury bills with a simultaneous agreement to resell them to the same bank at a higher price which will reflect an interest charge
commercial and industrial loans on the books of the 10 major new york banks excluding acceptances fell 718 mln dlrs to 6487 billion in the week ended march 4 the federal reserve bank of new york said
this idea has been suggested by the american farm bureau federation afbf as the fairest approach for all commodities
in sri lanka the drought has come when rainfall should be at its maximum for the year
pioneer recommended in a statement that shareholders retain their stock pending the boards response once it receives full details of the csr offer
merrill lynch co managed the deal
k mart said it will continue to operate the stores until early june when mccrory will take over with no interruption of service
march us purchasing managers index up at 539
the country was pumping between 245000 bpd and 250000 bpd before the tremor
the senate and house budget committees are known to be considering curbs on pik and roll transactions among other savings alternatives
for the year ended december 31 paradyne reported a net loss of 385 mln dlrs
he did not give figures for the fourth quarter of 1985
swedens national debt office said it was issuing a four billion crown seven year domestic government bond with a coupon of 1075 pct
the venture expects to bring into production a gold silver lead zinc ore body on admiralty island alaska containing about 3500000 short tons of ore assaying about 018 ounce of gold 240 ounces of silver 97 pct zinc and 39 pct zinc per short ton hecla said
german m3 rises 26 billion marks in february
the us defense department said just 10 pct of one section of the structure remained
year ago results restated to reflect deconsolidation of guaranty national
bank of japan satisfied with yen at current range
suffield said it still needs the approval of the superintendent of maines banking department
american can ac files for debt offering
the fund said 60 mln dlrs of the loan is available through the so called structural adjustment facility saf over the next three years
retail sales in the quarter ended december 31 fell a seasonally adjusted 132 pct compared with a 78 pct rise in the september quarter and a 13 pct fall a year ago period the statistics department said
bulk movement was 1934494 against 1954103 a year earlier
this drop was mostly due to a decline in opec crude production to around 155 bpd in february march from 165 bpd in january and to the seasonal drop in exports from centrally planned economies the iea said
up to march 26 19962000 shares or 92 pct of carlings stock has been deposited under the offer elders said
we hope they will be concluded by the year end he said
the securities are priced at 25 basis points over the three month london interbank offered rate libor payable quarterly
money supply is well under control
in a newspaper advertisement the company said the offer and withdrawal rights expire april 20 unless extended
a group of investment firms told the securities and exchange commission they raised their stake in intermedics inc to 1721900 shares or 168 pct of the total outstanding from 1565900 shares or 152 pct
us exporters report 200000 tonnes wheat sold to jordan for 1987 88 delivery
if indonesia spurs its economic growth too much such as through expansionary monetary and budgetary policies it might create negative effects not only on price increases but also on the balance of payments he told bankers and businessmen in the north sumatran city of medan
as envisioned by heller a basket of say 30 major commodities ranging from wheat to oil would be put together and prices would be measured on a regular basis
mobils debt reduction program has also been abetted by several steps taken by the company to restructure its operations
the second tranche is for the period april 14 to july 14
chinas 1986 87 sugar crop has been revised to 526 mln tonnes raw value down four pct from the previous forecast and five pct below the previous season the us agriculture department said
five holds are partially flooded and there is some leakage of bunkers from double bottom tanks
shr 136 dlrs vs one dlr net 1010249 vs 750856 revs 152 mln vs 119 mln 12 mths shr 324 dlrs vs 218 dlrs net 2407186 vs 1627250 revs 57 mln vs 531 mln
prior to the completion of the recent exploration program gordex estimated the cape spencer deposit had 200000 tons
the bond and warrants will be listed in frankfurt
buyers taking delivery of the propane must pay the seller by certified check and the deadline for payment is 1200 est noon of the second business day following receipt of the propane
there is little chance soviet exports to the united states will rise in 1987 but moscows current trade reforms should result in more trade in manufactured goods in future a soviet economist said
the company also said it has arranged a one mln dlr loan secured by its fort lauderdale fla property from republic bank for savings of jackson miss and has sold its peter pan restaurant in urbana md for 1100000 dlrs
a one billion dlr lawsuit pushed hughes tool co into an about face on its rejection of a proposed merger with baker international corp bko wall street analysts said
analysts expect foothill to record earnings of 65 cts to 85 cts a share in 1987
taiwans central bank will issue 12 billion taiwan dlrs worth of savings bonds on april 13 to help curb m 1b money supply which rose by a seasonally adjusted 4822 pct in the year to end february a bank spokesman told 
wilson foods corp wilf 2nd qtr jan 31 net
neither have the government regulators indicated that there will be a problem
she said that the fed bought bills maturing in june and july and on august 27 and september 10 for regular delivery tomorrow
among the main factors affecting liquidity bills maturing in official hands and the take up of treasury bills will drain around 572 mln stg while a rise in note circulation wil take out some 280 mlns stg
the association of white metals has decided to publish a daily tin price here in french francs per 100 kilos the french federation of non ferrous metals said
whirlpool corp 1st qtr shr 66 cts vs 67 cts
duff and phelps upgrades philip morris mo 
this was above market expectations for a 100 mln dlrs rise
a byproduct of the soviet buying has been a sharp rise in barge freight costs quoted for carrying grain from the midwest to the export terminals cash dealers said
farmers in one central region of china can from 01 hectare earn 2250 yuan a year from vegetables 375 450 yuan from cotton or 225 yuan from grain it added
that showed our portfolio is desirable he commented
redemption at maturity is at par when 50 pct will be paid in australian dlrs and again the investor will be able to opt for the balance in one of the two currencies
an agreement reached last year allowed for the conversion of the short term debt covered by the standstill into three year loans
polish officials are unable to provide a precise breakdown of the figure saying it takes into account a number of hypothetical losses
it would have been a bonus if the company had won but all budgeting had been on the assumption that it would not he said
middle south utilities inc is taking a conversative approach to formulating a new common stock dividend policy chairman edwin lupberger said
texas utilities co txu 12 mths feb 28 net
shr three cts vs four cts net 30969 vs 18230 revs 956971 vs 702994
a burning issue must be whether there ought to be a complete seperation in the future of risk arbitrage and investment banking proxmire said
fed buys one billion dlrs of bills for customer
lloyds merchant bank chief economist roger bootle said he expected base rates to be cut by one full point tomorrow
the deal is subject to execution of a definitive agreement
the proposed tax is designed to provide the ec with extra cash to finance community oilseed crops at their current levels and to brake a dramatic decrease in olive oil consumption by making it more competitive with other oils
system software associates inc said it completed its previously announced acquisition of admin edp pty ltd for cash and a small amount of stock
chief executive david kendall said improved results mirrored benefits of a restructuring program undertaken in recent years
pegasus gold inc said it cut its long term debt to 85 mln dlrs from 100 mln dlrs when its european bondholders voluntarily converted some of their debt holdings into 15 mln shares of pegasus common
strike to close new zealand ports on monday
it completed the first phase of its 1987 super pad ahead of schedule as well allowing the mining company to load up to 75 mln tons of new ore on the pad
charterers are considering combining contracted shipments because of inadequate space shipping sources said noting 13 raws cargoes are awaiting shipment from various ports
industry analysts said the increase did not exceed norways voluntary move to curb by 75 pct planned growth in its oil output a move designed to back opec led efforts to stabilise oil prices by limiting supplies to world crude markets
in his explanation walters said the united states took defensive action in response to an iranian attack against american ships in the gulf
rodriguez said the latin and caribbean nations backed the reagan administrations opposition to many of the sections in the legislation including those to curb imports and to require retaliation for foreign unfair trade practices
we are quite confident japan will make an increasing investment in development because of their willingness to support institutions like ours in increasing ways with each passing year he said
but rates were expected to rise toward the end of the week
an important feature of the aid program is a decision to let companies issue flow through shares allowing investors to benefit from the subsidy rather than restricting benefits to only participating companies he said
but dealers said the federal reserve bank of new york gave traders a sharp reminder that the g 6 pact had encompassed the idea of limiting inordinate dollar gains as well as declines
teck still in talks on bc copper venture
the amount of cash per share has not yet been determined it added
oper shr loss 102 dlr oper loss 631000 dlrs note prior year results are not available as company completed its public offering in april 1986
the company said the start up was necessitated by continuing strong demand for aluminum and dwindling worldwide inventories and that the metal is needed to supply reynolds various fabricating businesses
among the main factors affecting liquidity bills maturing in official hands will drain some 501 mln stg while a rise in note circulation and bankers balances below target will take out around 285 mln stg and 45 mln stg respectively
federal reserve board governor martha seger told reporters that the apparent strength in the 48 pct growth figure was the result of a temporary buildup in inventories that will not last and said the recovery was showing anemia
first quarter sales rose 615 pct to 3729 mln dlrs reflecting the acquisition of columbian chemicals and increased copper shipments from the chino copper mine in new mexico also acquired last year
nelson designs and develops new drugs ethyl said
noranda estimated that the securing operation for the zone will not be completed before the end of april
anadarko petroleum apc sells convertible debt
florida national fnbf downgraded by moodys
ico quota talks failure paralyse hamburg market
the products are used in the chemical aluminum iron rubber and semiconductor industries
until the end of last week the central was holding out staunchly against market pressures for lower rates in an apparent effort to preserve the expected rate cuts for around the time of the governments annual budget on march 17
wedge said it has no plans to join in an effort to seek control of american medical but it would not rule out a future takeover try
a special meeting between importing and exporting countries ended in a deadlock late yesterday after eight days of talks over how to set quotas
weather advisories were posted for this morning over central kansas and central and southeast sections of south dakota where two to five inches of snow could accumulate
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
however he appeared to discard earlier venezuelan proposals for a direct link between oil income and debt payments because circumstances change too quickly at the same time he said the government is presently studying possible mechanisms for capitlizing public and private sector foreign debt based on experience in other countries
we want to see how it went and where the securities were placed the gmac officer added
york financial yfed splits stock
the company said the exchange offer will expire at 1500 est on may one unless extended
the finished goods index was up 01 pct from its february 1986 level
colt industries inc cot 1st qtr net
the notes will be convertible into 75 pct convertible subordinated debentures which in turn will be convertible into 24 mln subordinate voting shares of the company
coca cola bottling coke terminates talks
novar electronics novr sees results improving
the company believes that in order to address its long term needs and return to a satisfactory level of operations it will ultimately need several hundred million dollars of additional capital or a combination with a more strongly capitalized entity first city said in a note to its financial statements included in the annual report
mercer said about seven companies are interested in buying celeron and they may form a consortium to buy the unit
and while consumers press for the price adjustment to be automatic producers have resisted reducing the role of the international rubber organization council in the price adjustment procedure
alberta energy plans debenture issue
he added i do not think there will be a trade war at all on friday washington announced plans to put as much as 300 mln dlrs in tariffs on japanese electronic goods from april 17 because of tokyos failure to observe the agreement
security pacific spc buys orbanco orbn 
inflation was by 88 pct in indonesia during fiscal 1986 87 to march 31 compared to 566 pct the previous year information minister harmoko said after a cabinet session to discuss the economic situation
the pta set up in 1982 groups burnudi the comoros djibouti ethiopia kenya lesotho malawi mauritius rwanda somalia swaziland tanzania uganda zambia and zimbabwe
i dont know what is going to happen to the market
the new system is expected to substantially enhance the liquidity and effiency of markets fundamental said
the ministers resolved that the proposed closures which should bring production capacity more in line with weak demand remain considerably below the surplus in capacity they asked the ec executive commission to consult with eurofer major steel companies and with governments to pinpoint scope for further capacity reductions beyond the annual 1526 mln tonnes identified by eurofer
it appears to be nearing a crossroads with regard to deregulation both as it pertains to investments and imports the report says
the company said the change came after talks with the securities and exchange commission on the companys judgement in considering the five mln dlrs collectible
colombian oil installations were not damaged by an earthquake which shook ecuador and southern colombia last night and there are no plans to suspend exports a spokesman for the state run oil company ecopetrol said
saudi arabia reiterates commitment to opec accord
he said south korea was selecting many of 122 items on which washington recently asked seoul to lower tariffs to help narrow its trade surplus with the us no further details were given
reynolds said in the letter that for the last few years gencorp management has taken action to enhance shareholder value and the stock price and earnings have improved since he joined the company
flooded areas total between 12 and 15 mln hectares buenos aires province governor alejandro armendariz said after flying over the flooded area
in times of rising commodity prices monetary policy might be tightened and in times of falling commodity prices montary policy might be eased he says
the west german government expressed support for the us position in opposing the proposed european community tax on vegetable oils and fats a us embassy spokesman said
west german finance minister gerhard stoltenberg declined to comment on whether unpublished target zones for currencies agreed at last februarys louvre accord had been changed as a result of the meeting on monday with us treasury secretary james baker
fujitsu makes similar chips and supplies them to us supercomputer makers they said
dow chemical launches 200 mln swiss franc bond
the issue would offer a coupon attractive to commercial banks which currently have an estimated 30 to 60 billion baht in funds invested in low yield securities the sources said
executive board members of the international coffee organization ico passed over the issue of export quota negotiations at its regular meeting here delegates said
how quickly they can move the sugar is one factor determining import levels he said
john labatt ltd 3rd qtr shr diluted 32 cts vs 30 cts
brazil halted payment of interest rates on 68 billion dlrs owed to 700 private commercial foreign banks as part of an strategy to alleviate the burden of its commitments
court lifts restraining order on mark iv iv 
air canada to acquire calgary courier company
bastian said alternatives being considered include an attempt to acquire cosmo through a merger tender or exchange offer seeking to influence the companys management and policies and seeking representation on cosmos board of directors through a proxy contest or otherwise
in the previous 10 years vw had received 80 pct of audis earnings as a dividend
the yield on 180 day bankers security deposit accounts issued this week by the saudi arabian monetary agency sama rose slightly to 663492 pct from 656823 last week bankers said
proceeds will be used to retire commercial paper and for general corporate purposes
firstbanc corp of ohio fboh 1st qtr net
i think there is a us willingness to explore this issue as it pertains to competitiveness amstutz said
in a separate statement usair said the agreement also included a provision that all usair shares currently owned by twa and its chairman carl icahn will be voted through a voting trust in proportion to the votes of other shares not controlled by twa or icahn
diamond shamrock executives said that to reduce the vulnerability to takeover pressures they want to raise the value of the two companies to be formed by splitting diamond shamrock
placer pacific ltd said it hopes the papua new guinea government will approve development of the misima gold project next month following the submission of its final environmental plan in port moresby today
he added that because of resignations by many seamen there were scarcely any crews left on 38 of these ships
this order included highly stringent performance standards for the companys five nuclear plants the ratings agency said
ackerman has been named chairman of data access as well and two other phoenix representatives have been named to the data access board
but in eastern and southeastern europe warmer weather has boosted sugar beet growth
this is a new market for us so to speak mangan said
brooklyn union gas co said it has contracted to purchase up to 60 mln cubic feet of natural gas per day from shell oil co a royal dutch shell group rd sc subsidiary
shr 89 cts vs not available net 1163000 vs 466000 nine mths net 3696000 vs 1624000 note company converted to stock ownership effective august 1986
delhi is one of australias largest onshore oil producers yielding about six mln barrels a year from the cooper basin
indonesia protests against ec vegetable oil duty
the bank of england said the broad measure of uk money supply sterling m3 rose a seasonally adjusted 22 pct in february after a 11 pct rise in january
1986 excludes extraordinary gain of two cts per share in the quarter and four cts per share in the year
burlington bur files two debt offerings
correction non communist february aluminium in todays london item non communist february aluminium output up ipai please read in first paragraph and throughout daily average primary aluminium production correcting from average unwrought aluminium production
adb sources said bank staff have been stationed intermittently in jakarta in response to government requests
these warrants would have an exercise price equal to 150 pct of the 15 day average